Legal collection
If a debtor fails to pay after repeated reminders, Atradius Collections can ask the court to impose a forced payment. This is done via a summons of the defaulter by a bailiff. This officially informs the debtor that the competent court will be called in to enforce collection of the debt.
Letter of credit
An L/C (Letter of Credit) or documentary credit is a written commitment made by a bank (the opening bank) to you at the request of the debtor. The L/C stipulates that payment will be made at a time specified in the L/C provided all the conditions in the L/C are met (e.g. submitting the necessary documents on time).
Make sure you apply for a credit limit on the debtor and not on the opening bank.
Limit appendix
For a credit check and a Start Cover in Atrium, you will receive the decision immediately on your screen. Only for a credit limit decision will you receive a document with the decision by e-mail. We call this document the limit appendix. On this document you will see any conditions or codes explaining the decision. Such a limit appendix is strictly confidential and may not be shared with third parties.