[华南]AG墨西哥案例Assurance Global successful collection case for mexico|
Assurance Global Case
Successful Collection of Aged Account Receivable from Mexico
This recent case featured a Vietnam food exporter and a buyer in Mexico. The Vietnam exporter developed a long relationship with this Mexican buyer over a number of years. Gradually, the Vietnam exporter decided to offer its Mexican customer less stringent trade terms.
However, after more of shipments this year, the Mexican buyer declined to pay for the goods. Product quality and delivery was according to contract. However, despite the best efforts of the exporter, the buyer refused to pay the invoice.
The exporter constantly communicated with the offshore buyer via email and phone. However, the invoice balance remained unpaid. Gradually, the account receivable aged and became over one and a half years’ old. At this time, the exporter tasked Assurance Global to collect these overdue funds.
Immediately, Assurance Global began the offshore funds collection process. First, Assurance Global briefed its Mexican legal to start to confirm the debtor was still in business and with enough assets to pay the outstanding amount. Subsequently, the Mexican lawyer sought to negotiate an amicable settlement with the debtor. When this approach initially was not successful, Assurance Global’s lawer took steps to bring the debtor to court. This approach was effective as the debtor was aware of the legal attorney's experience and capabilities and realized if negotiation failed, the debtor could be taken to court. Hence, after a six month engagement, the debtor agreed to pay 100% of the invoice. When the settlement was reached, the debt was over two years past due
The Vietnam exporter was highly satisfied with the recovery as this percentage is much higher than the industry standard for the recovery of debt aged over two years. Typically, efforts to recover offshore debt over two years past due are either unsuccessful or result a negligible collection of funds.