How a Ukrainian company achieved a satisfying settlement
The Ukrainian company had done everything they needed...
May 02, 2021
A Ukrainian software company was owed money by a commercial property company in Saudi Arabia. The Ukrainian company had done everything they needed to do delivering all the work according to the SOW of the Client Agreement.
But the Ukrainian company had not been successful in receiving payment despite offering the Saudi company a discount as part of a settlement. So they gave the debt to Payfor to collect.
Having analysed the debt, Payfor’s team started to email the Saudi company and managed to receive replies but in general, the communication was poor and the debt remained unpaid.
Luckily in a final call with the Saudi company, an Arabic-speaking Payfor executive got involved. The negotiation was handled in Arabic and even though it grew quite heated, in the end, a settlement amount was reached. The Saudi company and Ukrainian Creditor were both happy with the outcome and the debt was paid.
Disclaimer:
This blog post is intended for informational purposes only and should not be construed as legal advice. The information provided in this post is based on general principles and may not apply to specific legal situations. Laws and regulations vary by jurisdiction and can change over time. Readers are advised to seek professional legal counsel before making any decisions based on the information provided in this blog post. Payfor Ltd is not a law firm and does not provide legal services. The company disclaims any liability for actions taken based on the contents of this blog post.
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