Chirgilchin Business No Cure No Pay Collection Agency

No Cure No Pay Collection Agency

The incasso No Cure No Pay principle (which also applies to other professions such as the sale of buildings or car hire) makes it clear that the service provider only gets paid if he succeeds. This is especially true in the case of amicable debt collection, where success is defined by the achievement of a result, not the number of actions taken. Banning the no-cure, no-pay method in this context will only serve to confuse the customer and channel more work into courts (which are already overflowing) to the benefit of a few bailiffs who do not really deserve it. It would be useful if Justice Ministers stopped turning a blind eye to the enrichment of this small group.

Risk-Free Recovery: Understanding No Cure No Pay Collection Agencies

The LOF (Lloyd’s Open Form) 87 (1980) edition introduced a “Safety Net” for salvors responding to laden or partly-laden oil tankers in distress, enabling them to be paid an increment of up to 15 percent of their expenses in addition to the normal salvage award.

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