Debt Collections Handbook Austria 2018

Debt Collection Handbook

  • Austria
  • Agriculture,
  • Automotive/Transport,

24th September 2018

Having drawn from the expertise of Atradius Collections' local offices, the International Debt Collections Handbook explains the different regulations and procedures for debt collections in Austria.

Amicable collections

General information

 

 

Handbook Report Page - Amicable Phase

 

 

Atradius Collections maintains a professional collection process, focusing on the relationships between our clients and their debtors at all times. Our team of collection specialists carry out the collection process in-house. We contact debtors both verbally and in writing whilst adhering to federal and state laws.

Interest

Atradius Collections always charges interest to debtors calculated from the base rate set by the Austrian National Bank plus 9.2% on a daily basis (see European Directive 2011/7/EU in conjunction with the Austrian trade law paragraph 456). From a cultural point of view, Austrian debtors are used to paying late payment interest, although the actual amount of the interest payment is considered a matter for negotiation between debtors and collectors.

Debt collection costs

Collection costs (‘Inkassokosten’) can be charged according to §1333 Allgemeines Bürgerliches Gesetzbuch (ABGB) – the General Austrian Civil Code – as damage for delay. Austrian cases are dealt with by our German subsidiary, so we apply the same debt collection costs that are charged to German debtors, calculated on the basis of the Rechtsanwaltsvergütungsgesetz (RVG) – the German statutory lawyers’ fees. Atradius Collections will either forward all recovered debt collection costs to our clients to reduce the claim, retain the cost or add them to the success fee. This will depend on the contractual agreement between the client and Atradius Collections.

The Debt Collections Handbook presents a snapshot of Austria's  economic situation  and covers the following topics:

  • Legal procedures
  • Required documents
  • Insolvency proceedings
  • Time frame and outcome

To read more about steps and procedures undertaken in debt collections in Austria:

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Download Debt Collections Handbook Austria now!

 

Disclaimer

The statements made herein are provided solely for general informational purposes and should not be relied upon for any purpose. Please refer to the actual policy or the relevant product or services agreement for the governing terms. Nothing herein should be construed to create any right, obligation, advice or responsibility on the part of Atradius, including any obligation to conduct due diligence of buyers or on your behalf. If Atradius does conduct due diligence on any buyer it is for its own underwriting purposes and not for the benefit of the insured or any other person. Additionally, in no event shall Atradius and its related, affiliated and subsidiary companies be liable for any direct, indirect, special, incidental, or consequential damages arising out of the use of the statements made information herein.