Canada collection profile

Canada-bnr

 

Collecting debts in Canada

  • Although the payment behavior of domestic companies is good, the law provides no standard payment terms and does not facilitate the debt collection process meaning late payment conditions (delays, interest rates, collection costs) are left for the parties to consider contractually.

  • Canada offers an efficient judiciary system despite being complex insofar as different federal and local rules are applicable. Contractual ownership protection mechanisms commonly admitted in many countries are not recognized by Canadian courts.

  • Insolvency law provides sophisticated mechanisms, but their efficiency in recovering unsecured debt is very limited so that pre-legal action ought to be considered as the best debt collection opportunity.

 

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    Canada

    Canada

    Collection complexity

    severe-2

    Collection relating to

    Payments
    $-3
    Court
    proceedings
    Gav-3
    Insolvency
    proceedings
    Arrow-4

     

     

    Publications about Canada

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