No Cure No Pay For Collection Agencies

No Cure No Pay collection agency

No Cure No Pay incasso is the principle that a service provider only gets paid if he delivers. This applies to virtually all professional activities – from the sale of cars to debt collection. In this way, the creditor only pays for a successful result.
This is also the case for out-of-court debt collection. By attempting to ban no cure no pay in amicable debt collection, the Justice Ministers are condemning hundreds of thousands of consumers and small-scale traders to the considerable enrichment of a few bailiffs, as well as channeling more work into tribunals. In our view, this is a completely unnecessary measure that serves no one. The LOF 80 edition of the Salvage Contract moves beyond this principle by offering a safety net for salvors who respond to laden or partially laden oil tankers requiring salvage assistance.