Debt collection in Bosnia and Herzegovina - Law Office

Poor payment discipline in Bosnia and Herzegovina is a burning problem of a modern society faced by all legal entities, but also individuals. The best prevention is regular checking the credit worthiness of business partners and refusing business with those who have difficulties in paying. If in spite of this there is no payment, you should act as soon as possible and initiate court proceedings for debt collection in Bosnia and Herzegovina before a competent court.
In the out-of-court settlement of monetary and non-monetary claims and debts, it is possible to collect receivables and debts by contracting additional guarantees, warranties, pledges of objects and rights, introducing new ways of fulfilling payment obligations, by change of obligation, by submitting timely objections in a debtor-creditor relation, as well as by giving statements in an appropriate form, which is a notarized form with executive power. 
If it does not come to settlement of monetary and non-monetary claims and debts in the out-of-court proceeding, the collection of monetary and non-monetary claims and debts can be achieved by force through a court proceeding before a competent court in Bosnia and Herzegovina.

The means of execution of claims collection

The means of execution in order to achieve monetary claims are: sale of movable property, sale of real estate, transfer of monetary receivables, transfer of receivables for sale of movable or real property, transfer of other rights into money, transfer of funds kept in the bank account, sale of shares and sale of shares in companies.
The means of execution in order to achieve non-monetary claims are: handing over of movable property, evacuation and handing over of real estate, execution of obligation by acting, non-acting or suffering, executing of decisions from family relationships, execution to return an employee to work, execution of the decision on division of objects, entry in public registers and obtaining the declaration of intent.

Evidence of debt collection in Bosnia and Herzegovina
In order to achieve their right in a court proceeding in the shortest possible time and with the least cost, it is necessary that the facts on which you base your right can be proved as appropriate evidence before a competent court in Bosnia and Herzegovina.
In commercial disputes the existence of business cooperation between the parties, as well as the existence and amount of monetary and non-monetary claims and debts are usually proved by a private document (executed written contract, offer, declaration of acceptance of the offer, termination, etc.), invoices, shipment documents, final and enforceable judgment, and others.

The contract of debt assumption
The contract of debt assumption represents an agreement between a debtor and transferee for which the creditor has given his consent that the debtor be changed by contract.

Forced collection from the client’s account
Forced collection from the client’s account is carried out in accordance with provisions of articles of the Law on Payment Transactions in Bosnia and Herzegovina . The stated legal provisions govern the basics of payment enforcement, the order of execution of basics of payment enforcement, as well as the procedure of implementation of enforced collection before the competent banks in Bosnia and Herzegovina.