MEDIA RELEASE PR37013
Atradius Collection Signs a Partnership Agreement With China's FinancePro
AMSTERDAM, Nov. 17 /PRNewswire-AsiaNet/ --
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 byabout $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.
SOURCE: Atradius N.V.
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