After the spectacular e-CODEX video on the European Investigation Order, a new e-CODEX video has been released. In this new video, the European Order for Payment procedure is introduced based on the fictional story of an Italian fashion designer making as cross-border claim to recover an outstanding debt from a theatre company in Austria. Click on the video to see how the simplified procedure for cross-border monetary claims helps the fashion designer to receive his money from a foreign company. Watching the video will help you to get a better understanding of how e-CODEX makes the difference in cases like this by enabling the digital exchange of case-related information.
Source: e-CODEX Newsletter #4, by Sandra Taal
Late payments and outstanding invoices are a major threat to small and medium-sized companies all over Europe. Recovering debt is a time-consuming and costly process, especially in cross-border cases. The European Payment Order (EPO) helps consumers and businesses to swiftly recover outstanding debts via harmonised procedures while respecting existing judiciary systems of Member States. Ten years after its introduction, the EPO has led to many successful credit recoveries across Europe. While there are still hurdles to overcome and dilemmas to be solved, the use of innovative digital systems will make all the difference in future debt recovery through EPOs.
Read the full article by Bina Ayar: Freedom from barriers in cross-border business