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CEMS offers services to Dubai Chamber

Dubai Chamber and Coface Emirates Services (CEMS) on behalf of France-based Coface "Compagnie Francaise D'Assurance pour Le Commerce Exteriors" signed a Memorandum of Understanding (MoU) whereby CEMS will offer international debt collection services to the Chamber's members and non-members while the Chamber will support the debt collection services in its entirety.

  • Staff Report
  • Published: 23:37 June 30, 2008
  • Gulf News

Dubai: Dubai Chamber and Coface Emirates Services (CEMS) on behalf of France-based Coface "Compagnie Francaise D'Assurance pour Le Commerce Exteriors" signed a Memorandum of Understanding (MoU) whereby CEMS will offer international debt collection services to the Chamber's members and non-members while the Chamber will support the debt collection services in its entirety.

Hamad Bu Amim, director-general of Dubai Chamber, and David Venediger, managing director, CEMS, signed the agreement at the Chamber premises last week as the two agreed to work jointly to provide this important service of recovering international B2B debts.

Said Bu Amim, "This strategic partnership with Coface Emirates Services is yet another example of the dynamic approach that the Chamber has with regards to value-added services for the business community as it will provide with an online access to monitor their debt collection process, first action within 24 working hours from receipt of debt, no recovery no fee, and pre-legal diagnosis at the end of the amicable procedure."

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"The present credit crisis is starting to have an impact and the payment behaviour of companies has clearly deteriorated since the beginning of 2008," said David Venediger, MD of CEMS.

"Dubai Chamber members will get the service on discounted rates and will benefit from Coface's 60-years experience of handling account receivable worldwide. Companies now have the resources to recover bad debts more efficiently," he added.

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