Defending Your Receivable is Our Mission
The Korean electronics parts manufacturer approached iQor RMS HK in collecting a large unpaid debt from their US buyer. The buyer had placed heaps orders with our client during last year; however, due to global economy downturn, the buyer failed to collect the finished products and denied to fulfill the rest orders as well. All finished products and materials have been abandoned in client’s warehouse for over half year, which costs US$1,000,000 in total.
iQor RMS has held a risk management seminar at Canton Trade Fair on October 25th, 2019. The main concern for enterprises is to manage trade risks in order to ensure cash flow for operations and business developments. International trading business is fiercely competitive, along with unknown factors and environmental changes, which created opportunities and crisis for exporters.
With the intensive trading between Hong Kong and China, delinquent debt receivables are often the going-concern for Hong Kong traders as well as foreign investors, who encounter difficulties with recovering receivables in mainland China. A specialist from RMS will highlight how to recover debt receivables in China through litigation, non-litigation as well as arbitration approach. He will also introduce key facts within the Chinese Bankruptcy Law and the Civil Procedure Law of China, and analyze each option, their respective advantages and limitations. Recent real case studies will be shared to facilitate the understanding of the debt recovery know-how in mainland China. Business executives, SMEs, factory owners and all interested individuals are welcome to join the seminar.
We are excited to announce the launch of our official accounts of “WeChat” & “WhatsApp Business”, to keep our clients updated with the most current news, no matter when and where they are!
iQor RMS will hold a Corporate Risk Management seminar at Canton Trade Fair on October 25th, 2019. Attendees include traders, SME and foreign enterprises etc. The ongoing trade war combining with political and currency risks factors have impacts increasing bad debts of traders. During the seminar, RMS senior consultant, Mr. Norris Chan, will analyze the global economic situation, share mitigating risk advices, managing accounts receivables, and introduce how iQor RMS resources and international network could assist in overseas debt management and recovery. Don’t miss the seminar and register asap!
iQor RMS has held a seminar “Make Use of 2019 New Agreement: Enforce Hong Kong Judgments in Mainland China to Mitigate Risks of Doing Business in the Mainland” on June 20th, 2019 at Hong Kong General Chamber of Commerce (HKGCC) Chamber Theatre. The seminar was hosted by iQor RMS Senior Consultant Mr. Norris Chan and Yingke Law Firm lawyer Ms. Su Ping.
iQor RMS had reviewed in its earlier blog in regard the latest news of legal collection in China. Hereby we would like to share the current credit and recovery risks in doing business with the mainland China, and the various provisions of services/reports that help to mitigate risks in dealing with this market.
The jewelry industry is notorious for its inconsistent pricing model stemming from the difficulties to authenticate its genuineness and quality control standard. As a result not many insurance companies are willing to provide sufficient insurance coverage in this segment. Lacking insurance protection, small and medium jewelry suppliers might expose to various threats including payment risks. Thus receivable collection services is always an indispensable tool for the jewelry industry to recover its overdue debts. In this blog, we share a successful case where a local jewelry supplier approached iQor RMS to collect a large amount of debts from a US jewelry buyer.
Language barrier and time difference are usually the key reasons for enterprises to abort the recovery of small size overseas debt. iQor RMS' statistics, over 30 years commercial collection data base, show that the recovery rate of small size debts could be 30% higher than that of the large amount accounts. Here are two typical cases oftenly seen from non-English speaking countries.
The Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters was signed between China and HKSAR in January 2019. This arrangement helps to skip the process of re-litigation and speed up account receivables collection in China by Hong Kong corporates.
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