Atradius Collection Signs a Partnership Agreement With China's FinancePro
By Atradius N.v., PRNESunday, November 15, 2009
AMSTERDAM, November 17 - Atradius Collections, a worldwide leader in business-to-business debt
collection services, has entered into a partnership agreement with
FinancePro. The pioneer and market leader in commercial receivable management
services in China, FinancePro selected Atradius Collections to provide
international debt collections services to its entire customer base.
According to the partnership agreement, FinancePro will use
Atradius Collections international service to pursue the collection of unpaid
invoices of Chinese exporters to their foreign customers. This development
builds on Atradius' position as the expert in international debt collections.
More than 75 percent of Chinese exporters write off unpaid international
invoices due to language barriers and widely varying collection procedures
worldwide. Atradius Collections through its sophisticated worldwide network
and strong local presence is uniquely positioned to help Chinese exporters
reduce bad debts.
Raymond van der Loos, Atradius Collections Managing Director
said: << FinancePro and Atradius are an excellent strategic fit. Our
partner's intimate knowledge, coverage and experience of the local business
and collections landscape in China coupled with Atradius Collections' strong
international expertise, provide an unparalleled offering to the Chinese
business community. >>
<< With China being the second largest exporting nation in the world,
collecting international trade debt in diverse business cultural setting
poses a substantial challenge - commented Brook Zhang, founder of FinancePro.
- The partnership with Atradius Collections will enhance our product
portfolio and value proposition to our customer base. >>
According to different online sources, overseas debts to Chinese
companies have long exceeded $100 billion, and the amount is increasing by
about $15 billion per year. Atradius Collections, capitalising on its vast
international network and expertise, is uniquely positioned to help Chinese
companies improve their cash flow.
About Atradius Collections :
Atradius Collections, a business unit of Atradius Group, provides
efficient, quick and flexible solution to recover domestic and international
trade debts. With over 400 staff in 18 offices and an extensive network of
collections specialists, lawyers and insolvency practitioners worldwide,
Atradius Collections serve over 12,000 customers handling on average 100,000
cases a year. Over 80 years of global credit management industry experience
uniquely position Atradius Collections as a worldwide leader in
business-to-business debt collections.
About FinancePro:
FinancePro is a leading supplier of receivable solutions in China,
established in 1998 as a division of SINOTRUST. (SINOTRUST is a pioneer and
market leader of credit solutions in China since 1992.) FinancePro, with over
160 staff and a Nationwide network of over 200 collection lawyers in China,
provides Commercial Debt Solutions, Consumer Debt Solutions, and
Non-Performing Debt Solutions and helps companies in banking, insurance,
telecom, trading, manufacturing and service sectors to better manage their
receivables, reduce bad debt losses and promote cash flow.
www.atradiuscollections.com
For further information: Natasha Pearson, e-mail: natasha.pearson at atradius.com, +31-20-553-3028, Tony Au, e-mail: tony.au at atradius.com, +852-3657-0908
Tags: Amsterdam, Atradius N.V., Europe