European Payment Order

The European Payment Order (EPO) is a system of cross-border debt-collecting methods established on December 11, 2006 that is used in the European Union.

Uses

The European Payment Order is only available for cross-border cases. It allows for citizens and businesses to use a simple method to enforce uncontested payments. Small businesses in particular should benefit from the EPO since it provides a simple, cost-effective method of collecting payments from a multinational group of customers.[1]

Local law

Local debt-recovering systems work alongside the European Payment Order. Creditors can choose which system they wish to use. One of the biggest benefits of using the European Payment Order is that it is specifically designed to work in multinational scenarios.[2]

See also

References

  1. ↑ "Go-ahead for the European Payment Order". European Parliament. March 10, 2006. Retrieved 2008-03-26.
  2. ↑ "EU Member States to implement a common debt recovery procedure". Lindorff. December 12, 2006. Archived from the original on 2007-02-06. Retrieved 2007-03-09.


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