Enforcement inscription as a new tool for debt collection in Belarus

Belarus: Since August 2015 legislation allows creditors, including foreign creditors, to recover debts by means of an enforcement inscription.

 An enforcement inscription is issued by a notary public in cases where a debt arises from a specified range of most common commercial contracts subject to a written acknowledgement of the debt by the debtor. Roughly speaking, an enforcement inscription is equal to an enforceable court decision.

Obtaining an enforcement inscription is quick and cheap. Subject to submitting all the necessary documents, it takes only up to three days to obtain an enforcement inscription. Although a notary fee is calculated as 5% of the amount to be recovered, it is limited to a maximum 10 basic units (approx. EUR 95).

To avail itself of the enforcement inscription procedure a creditor must make sure that the debt meets certain conditions and that a number of documents are at the creditor’s disposal. It is advisable to take control of these documents at an early stage, even before the debt arises.

For more information on enforcement inscription, please follow this link.

For more information on debt collection in general, please follow this link.

Source: National legal Internet portal of the Republic of Belarus (NLIP) 1/15789, 08.05.2015

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