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Question: What kind of case do you usually accept?

Answer: We work on behalf of all kinds of enterprises and individuals when the delinquent account is of transnational type.

  Question: When should we submit a claim to a professional collection agency?

Answer: Accounts are delinquent when they have not been paid in accordance with your terms. Early contacts will give you the maximum chance of recovery. The most productive efforts take place during the period between 30-90 days past due. Beyond 90 days, recovery percentages start dropping dramatically. If an account is delinquent, you are probably not the only creditor demanding payment. Usually the creditor who acts promptly gets paid. And other who wait and hope to save the agency fee, always wind up filing a claim in the Bankruptcy Court.So, you should turn over an account to a professional agency once you feel your own reasonable collection efforts are not productive.

  Question: What should we submit when instructing place a claim?

Answer:Evidence to back up your claim: which should include trading document such as copies of any order, invoice, bill of lading/air waybill, certificate of quality inspection, delivery note and copies of correspondences, judgment or award, the more the evidence, the better the recovery prospect. If the evidence could not be collected right away, send us whatever you already have and we will have them reviewed and ask for a supplement.

  Question: Can a creditor collect interest on the unpaid claim?

Answer: Generally, yes. Any agreed upon rate should be added to the account at the time of submission. If it is necessary to file suit, interest will be part of the legal demand.

  Question: How about cost?

Answer: Our principle is "No Collection, No Commission". A commission is charged on successful collection and collected amount only. The commission rate bases the debtor¨s location & condition, debt amount & age. Mostly, the rate will be 20%~30%.But in special case or position, the handling fee should be necessary.

  Question: How do you collect during pre-legal phase?

  Answer: We design the collecting tactic based on the characteristic of each case, and it will differ because of whereabouts of the debtor, whether debtor¨s asset will satisfy the claim, age and scale of the claim, etc. We will give every claim a unique reference number for identification and we suggest the client to quote this reference number in their future contact with us. A primary investigation will be carried out when we receive the placement. Along with the development of collecting work, we will take up the claim with debtor by phone or fax and we will also send attorney¨s letter by all possible contact means. In most cases, direct visit will be taken in order to boost an offer of settlement. Our aim, is to achieve a satisfactory settlement for our client through an amicable way and on the other hand, help maintaining a health relationship between parties.

  Question: What is your turnaround time for collection? 

Answer: We work on the cases for a minimum of four to eight weeks before getting back to the clients. This allows us to perform all the necessary searches and investigations, to contact and make appointments with the debtors and to conduct all the necessary follow-up action. 

  Question: What is your ratio of recovery? 

Answer: We work on the cases for a minimum of four to eight weeks before getting back to the clients. This allows us to perform all the necessary searches and investigations, to contact and make appointments with the debtors and to conduct all the necessary follow-up action. 

  Question: What is your ratio of recovery? 

Answer: There is no quick answer for this question. The ability to collect is basically dependent on how well you, the creditor, have done your job, the age of the debt, the amount and location & jurisdiction of the debtor. If your information is outdated, and your claim is old and poorly worked, our job is made more difficult. 

  Question: How will I know what you're doing? 

Answer: We provide monthly status reports. And we are pleased to provide more regular reports if the client so desires. In addition, you'll have access to the account manager that's handling your work. Our online file monitoring and performance review system will be up and running soon and you will be able to monitor progress of your files 24 hours a day. 

  Question: May I contact with the debtor after signing your Collection Agreement?

Answer: No! Except the official notice to debtor that this case has been assigned to SINOSURE, we do not recommend any active contact with debtor from your side, as this may jeopardize our collection effort. In the event the debtor should contact you directly or send you a check or otherwise, you shall refer that communication or check to us.

  Question: How fast will you take legal action? 

Answer: In most cases, we endeavor to get a settlement through amicable negotiation and in this phase, we usually work on contingency fee. If we are unable to obtain a recovery without court proceedings, we will write to you advising whether we believe that court proceedings are likely to produce a recovery or not. The cost for the litigation efforts will include the court fee and sometimes retainer. We will also provide you with a report on what action should be taken and why we recommended so, the estimated cost and the turn around times to obtain judgment and its execution. You will be free to decide whether to go to legal action then.

  Question: What will it cost me if we have a lawsuit?

Answer: With legal procedure, the possible costs include "Court Fee", "Lawyer Fee", "Translation Fee" & "Execution Fee", etc. 

  Question: How to arrange transfer of recovery, commission?

  Answer: Debtor may clear the indebtedness by paying to our account or directly to yours. Unless otherwise agreed, transfer of recovery, commission should be made within 2o working days from receipt. If the debt was not cleared through case, the parties should arrange payment within reasonable time. 

  Question: How to define your recovery?

  Answer: The detail answer of this question should refer to the clause of our Trust Deed with you. In brief, any value transfer after enforcement of the Trust Deed should be treated as our success in collection.

  Question: How do I assign my cases to you? 

Answer: Send us an E-mail or fax together with all necessary supporting documents to let us find out more about the nature of the debt. Or simply tell us how to contact you and we will get in touch by phone immediately. You can also feel free to contact our subsidiaries and branches all over the country for further detail.Contact InformationAddress: Rongjin Bldg, 5 Fuchengmen North Str., Xicheng District, Beijing 100037, ChinaTel: +86-(0)10-6800-8811 ext. 3202、3217、3219、3220、3221、3222、3224、3239 Fax: +86-(0)10-6800-6117e-mail: collect@sinosure.com.cn


Accounts Receivable Management Center / China Export & Insurance Corporation