Head of criminal law practice
Expert in criminal and international law. He also specializes in crimes in the field of military activity and in the financial sector.
Debt collection from counterparties
Debt collection from counterparties
If we are talking about collecting debts from counterparties, then in this case we are talking about the relationship between economic entities: legal entities and / or individual entrepreneurs.
In the course of business relationships between business entities, from time to time, due to various kinds of circumstances, situations occur when one counterparty does not fulfill contractual obligations to another, for example, not to pay for the delivered goods, or vice versa, after receiving the goods, refuses to pay for it. From this moment on, the enterprise, whose rights have been violated, is faced with the concept of collecting debts from counterparties.
Possible stages of debt collection from counterparties
Debt collection from counterparties can be roughly divided into three stages:
Pre-trial collection or negotiated settlement. It is based on a negotiation procedure closely related to claims activity, the essence of which is the exchange of claims and letters of demand between the parties. If the outcome is favorable, such a procedure ends with mutual consensus, or, on the contrary, moves to the next stage, namely, to the stage of judicial enforcement.
Judicial collection of debts from counterparties.
The second stage of debt collection from counterparties, which consists in filing a claim for debt collection in a competent court. The judicial collection of debts from counterparties is a more costly stage than the previous one, since it requires the plaintiff creditor at least to pay the court fee, not to mention the cost of legal assistance. This stage ends with the issuance of a court decision either in favor of the creditor, or in favor of the debtor. In most cases, the outcome of the case depends on quality legal assistance.
After the judicial collection of debts from counterparties. The third , the final stage of debt collection from counterparties, which consists in the implementation of the court decision obtained following the results of the successful completion of the second stage – judicial collection. This stage consists in obtaining a writ of execution – a court order / writ of execution with its further transfer to the state executive service or a private contractor for enforced debt collection.
What influences the effectiveness of debt collection from counterparties?
In order to get the maximum result when collecting debt from counterparties, it is necessary to prepare for such a procedure from the very beginning, namely from the beginning of interaction with the counterparty.
Before concluding a contract, especially before the delivery of goods or payment of an advance, it is necessary to carefully check the counterparty’s enterprise, its ability to fulfill the contract, in particular to deliver goods / perform work or provide services.
And only after carrying out the above actions, conclude an agreement in which to describe in detail all the essential conditions, and only after that carry out the delivery of the goods or payment of the advance payment.
The effectiveness of debt collection from counterparties depends on the documentary registration of the relationship between counterparties, as well as the professionalism of a lawyer / attorney who is engaged in such practice.Svyatoslav Ugrin
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What is included in legal services for business?
Corporate law, contracts, Due Diligence, licensing, tax and employment matters, intellectual property, real estate, commercial disputes, investment transactions, M&A, and ongoing legal support.
How do legal services for business differ from ongoing legal support?
“Legal services for business” is a broad category covering both individual and comprehensive legal tasks. Ongoing legal support is a specific cooperation model in which a company regularly delegates legal matters to an external team.
Does a small business need a lawyer?
A small business does not necessarily need to employ an in-house lawyer, but it still regularly deals with contracts, employees, counterparties, payments, and regulatory matters. Some or all of these functions can be outsourced.
What is a business legal audit?
It is a review of corporate, contractual, licensing, employment, IP, and other legal areas in order to identify risks and provide recommendations for resolving them.
Can a counterparty be legally checked before a major transaction?
Yes. The review may cover corporate data, authority, litigation and enforcement risks, assets, encumbrances, and other factors depending on the structure of the transaction.
Do you provide legal support for attracting investors?
Yes. Support may include legal Due Diligence, preparation of a term sheet, structuring the investor’s entry, corporate documents, an agreement between LLC participants, and closing of the investment transaction.
Can the entire legal department be outsourced?
Yes. An external team can handle contractual, corporate, pre-trial claims, and other recurring legal work, involving specialized practices when necessary.
What legislation now governs commercial relations after repeal of the Commercial Code?
As of August 28, 2025, the Commercial Code ceased to be in force. The Civil Code and special laws apply depending on the specific legal relationship, while commercial disputes are considered under the rules of the current Commercial Procedure Code.
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