The text of the original article
Italy and Bulgaria have significant bilateral trade in goods and services.
Total trade between Italy and Bulgaria amounts to approximately €3.5 billion.
A significant figure confirming the now well-established tradition of commercial cooperation between the two countries.
The increase in commercial transactions between Italy and Bulgaria brings an increase in contractual breaches or defective performance and, frequently, non-payment of invoices for goods and services supplied by either Bulgarian or Italian companies.
In some cases, outright fraud is perpetrated against Bulgarian and Italian companies through increasingly sophisticated schemes involving computer systems.
Except in cases of deliberate premeditation or contractual fraud, where the practical prospect of recovering the debt is very limited, immediate action is required in all other cases to maximise the chance of recovery.
Italian and Bulgarian companies very often grant trade credit and deferred payment terms for supplies without an underlying contract enabling them to take effective debt recovery action if payment is not made within the agreed time.
In essence, it is a serious mistake for a Bulgarian or Italian company not to invest in professional advice before opening a line of credit with a supplier.
Taking remedial action once a problem has already arisen is more costly, slower and often less effective.
De Amicis & Petrova Law Firm provides clients with legal and corporate advice both at the pre-contractual stage and if problems arise during the relationship, with a view to maximising the prospects of debt recovery.
The Firm has set up a desk in Bulgaria to assess debtor positions in advance and plan the best debt recovery strategy in Bulgaria.
The Firm cooperates with other professionals, lawyers and accountants, supporting them and assisting shared clients through the various stages of the procedure.
Please contact us for information and quotations.