Safeguarding measures

In case your debtor isn’t able to settle your claim in a speedy manner, we can request that the debtor secure the debt in favour of you - the creditor. This can be done amicably and cost-effectively by providing an acknowledgement of debt, which is authenticated by a notary and is immediately enforceable in case the agreed payment terms are not honoured. The corresponding notary cost has to be carried by the debtor, and the notary will send the enforceable engrossment directly to us. In exceptional cases, the cost of obtaining such a title is advanced by us (e.g. if the debtor is not capable of doing so). The cost is then charged back to you. Approaches like this have to be evaluated on a case-by-case basis and are dependent on the outstanding principal amounts.

Debtors are also able to offer other means of security, such as mortgages, assignment of debts or assets. Contracts must be drawn up for assignment of debts or assets, whilst mortgages have to be registered by a notary.

(End of chapter 3 - Safeguarding measures)

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