Do you have any outstanding credit collection in Albania? Rely on Invenium!
In Albania, unlike other countries, credit collections are mainly carried out by lawyers and not by agencies. As consequence lawyers are specialized in this field.
If deemed necessary, lawyers may resort to bailiffs to send a notice of payment to debtors, in order to increase the pressure on them. The activity is a mix of the bailiff’s activities and the lawyer’s activities.
If the debtor doesn’t carry out the payments, legal actions are taken according to the legal framework based on the Civil Code, Law No. 7850 dated 29.7.1994 and subsequent amendments. This specific law allows proceeding with the payment injunctions, as is the case for almost all European countries.
If the injunction cannot be used, for fear of the negative dispute result, legal process actions must be taken. Legal credit collection begins by submitting an application to the court of jurisdiction – through an order for payment (if not contested) or alternatively initiating legal proceedings.
On 24.04.2014, the Albanian parliament approved Law 48/2014 “For payment of contractual and commercial obligations”, which was partially aligned with Directive 2011/7/EU of the European Parliament “On combating late payment in commercial transactions”.
Until now, late payments were regulated by the provisions of the Civil Code, which were based on the principle of freedom of contract. The new law defines the rules for calculation of statutory interest for late payments in business transactions.
So, in summary, it can be said that in Albania is relatively simple to activate an out-of-court credit collection activity. The credit collection is usually carried out by local lawyers, without any helps from an intermediary. Rely on a credit collection agency like Invenium, your credit collection will be taken care by a specialized local expert. In this way the process will be better optimized.