Chile collection profile

Chile-bnr

 

Collecting debts in Chile

  • Although the payment behavior of domestic companies is generally good, with payments normally taking place within 60 days on average, standard payment terms are very broad (60 to 90 days).

  • Courts are trustworthy however the system provides no fast track proceedings, meaning pre-legal action conducted by collection specialists is the most efficient way to obtain payment without incurring legal costs and delays.

  • Debt renegotiation mechanisms aiming at rescuing companies have been put in place but these are rarely used, with liquidation remaining the default proceeding when it comes to dealing with insolvent debtors. Therefore the chances of collecting unsecured debt through insolvency courts are nonexistent.

 

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    Chile

    Chile

    Collection complexity

    severe-2

    Collection relating to

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

     

     

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