Collection and Recovery (Masri & Associates) Sarl is a Lebanese company with limited liability, founded in 1992, and registered in the Register of Commerce of Beirut under number 62575 with a share capital of LBP 5,000,000.
Collection and Recovery (Masri & Associates) Sarl is affiliated to Associated Holdings Sal, the holding company of the Khalil Masri et Fils group, a well-established and well-known group of Lebanese firms, founded in 1984, engaged mainly in: financial, commercial and credit information; business investigation; collection and recovery, receivables management; market surveys and feasibility studies; asset valuation and appraisal; inspection, certification and testing.
Collection and Recovery (Masri & Associates) Sarl, which has actually started operations in May 1997, specializes (a) in the management and collection of accounts receivable, including the collection of bills, promissory notes, insurance premium and commercial invoices, and (b) in the recovery of unpaid and overdue accounts and debts. The activity of the company covers trade receivables as well as consumer accounts.
Collection and Recovery (Masri & Associates) Sarl employs an executive staff having a strong experience in credit management, and a team of collectors and recovery agents selected on strict professional and personal grounds, trained with particular care, and familiar with the geographic areas and economic sectors in which they operate.
Collection and Recovery (Masri & Associates) Sarl works mainly for local commercial banking establishments, financial companies, insurance organizations , and industrial and trading enterprises, providing to its valued principals and customers specialized, efficient, reliable and at the same time discrete services, with the purpose of an improved management and monitoring of credit risk and cash flow.
Collection and Recovery (Masri & Associates) Sarl has an impressive professional and business record on the Lebanese market, characterized by a remarkably high success rate in the management and collection of accounts receivable, and by a reasonable success rate in the recovery of unpaid debts.
Collection and Recovery (Masri & Associates) Sarl’s range of services, combined with the comprehensive and unique range of products and services offered by the Khalil Masri et Fils group in the field of credit information, represent the ultimate solution to problems associated with the evaluation, monitoring and management of commercial and consumer credit risk.
Management & Collection of Accounts Receivable
This service consists (a) in managing and organizing accounts receivable (commercial and consumer) existing in the books of the principal, and/or (b) in collecting, on behalf of the principal, the amount of bills, promissory notes, insurance premium, trade invoices, subscriptions, memberships, statements of account, etc…
This is achieved on the basis of a general collection mandate, empowering Collection and Recovery (Masri & Associates) Sarl to manage receivables and collect funds on behalf and for account of the principal.
For each collection transaction, a numbered collection order and a subsequent collection report are established by Collection and Recovery (Masri & Associates) Sarl, a copy of which is remitted to the principal at the closing of the transaction.
Collection and Recovery (Masri & Associates) Sarl’s field collection staff always carry proper authorizations and identification documents when on duty.
Against all payments made, an official receipt issued by Collection and Recovery (Masri & Associates) Sarl on behalf of the principal, is remitted to the paying party, in addition to any other relevant or required document (promissory note, statement of account, etc…).
Discounted payments and partial payments are not accepted by Collection and Recovery (Masri & Associates) Sarl unless this is authorized by the principal.
Collection takes place during office hours in general, and as many visits as necessary are generally made before an account is referred to the principal as unpaid.
Collection methods and techniques used by Collection and Recovery (Masri & Associates) Sarl do not include in any way undue pressure or actions contrary to fair professional practice and behavior.
Information made available to Collection and Recovery (Masri & Associates) Sarl in the framework of a collection mandate or agreement -such as name of accounts, number of accounts and prices of products and services- remain strictly confidential.
Fees charged by Collection and Recovery (Masri & Associates) Sarl for the management and collection of accounts receivable normally depend on the nature of accounts to be managed and collected, and on the volume (number) of transactions.
Fees consist in a retainer fee for management, and a fee per achieved collection (percentage of amount collected for commercial receivables, fixed tariff for consumer receivables). A firm quotation is prepared after careful examination of the details and particulars of respective portfo
Fees are not deducted from amounts collected, but are charged regularly (generally on monthly basis) in a subsequent invoice, and are payable within fifteen days as from the date of invoice.
Other specific terms of service can be agreed case by case.
Recovery of unpaid accounts
This operation consists in the recovery, for account of the principal, of valid and true unpaid debts (commercial and consumer) from debtors in default.
This is achieved on the basis of a recovery mandate or recovery order, issued by the principal and accepted by Collection and Recovery (Masri & Associates) Sarl, identifying the debtor, stating the amount, nature and background of the debt, the date at which it became due for payment, and eventually any discount on the due amount acceptable to the principal.
The recovery mandate or recovery order must be accompanied by supporting documents (bill, promissory note, invoice, etc…), and by copies of all correspondence exchanged between the principal and the debtor regarding payment.
The validity of the recovery mandate or recovery order depends on the nature and amount of the respective debt, but generally ranges between 60 days and 90 days.
When a recovery mandate or recovery order is issued, and until the case is closed, the principal is required to cease all direct contact and negotiation with the debtor in respect of the unpaid debt, and to refer the debtor to Collection and Recovery (Masri & Associates) Sarl.
In case the debtor settles the amount of the debt directly to the principal after a recovery mandate or recovery order is issued, Collection and Recovery (Masri & Associates) Sarl's agreed fees are due by the principal in full.
In case a debtor requests a reduction of the amount of the debt, Collection and Recovery (Masri & Associates) Sarl submits the matter to the principal's approval together with its recommendation.
In case a debtor requests to reschedule the debt, Collection and Recovery (Masri & Associates) Sarl submits the matter to the principal for approval together with its recommendation. If rescheduling is accepted, Collection and Recovery (Masri & Associates) Sarl's agreed fees are due by the principal in full upon approval, and the case is considered as closed.
In case a debtor requests to settle the amount of the debt against the supply of products and services, Collection and Recovery (Masri & Associates) Sarl submits the matter to the principal for approval together with its recommendation. If the proposed way of settlement is approved, Collection and Recovery (Masri & Associates) Sarl's agreed fees are due by the principal in full, and the case is considered as closed.
Collection and Recovery (Masri & Associates) Sarl's recovery agents always carry proper authorizations and identification documents when on duty.
Recovery methods and techniques used by Collection and Recovery (Masri & Associates) Sarl do not include in any way actions contrary to fair professional practice and behavior.
Against all payments made, an official receipt issued either by the principal, or by Collection and Recovery (Masri & Associates) Sarl on behalf of the principal, is remitted to the paying party.
If recovery has not been achieved during the validity of a recovery mandate or recovery order, Collection and Recovery (Masri & Associates) Sarl submits to the principal a detailed recovery report and agrees with the principal either to extend the mandate, or to close the case and terminate the intervention.
A recovery operation usually starts with a preliminary investigation conducted by Collection and Recovery (Masri & Associates) Sarl aimed at determining the status and condition of the debtor, at assessing the ability of the debtor to settle the outstanding or unpaid debt, and (if necessary) at identifying the existence of seizable assets. A subsequent investigation and evaluation report is established and submitted to the Customer for consideration.
Fees charged by Collection and Recovery (Masri & Associates) Sarl for recovery of unpaid debts can be provided upon request, and consist of (a) a fixed fee for the preparation of the investigation and evaluation report, and (b) a percentage of amount recovered depending on the ageing of the unpaid debt.
Address & Contact Numbers
Street address : 1st floor, Block A
Basha Gardens
Builing 7, Street 83, Sector 5
Pres. Charles Debbas avenue
Jisr El-Bacha
Sin El-Fil (Metn)
Lebanon
Mailing address : P.O.Box 166318
Postal code 1100-2110
Telephone : +961 1 513666 (grouped lines)
Facsimile : +961 1 510987 (operations)
+961 1 511109 (management)
Electronic mail : collection_recovery@masri.com.lb
Internet address : http://www.masri.com.lb
References
Bankers
Banque Audi Sal
Sofil main branch
Centre Sofil
Mar Nicolas sector
Beirut
Lawyers
Maître Fadi Masri
Beirut
Maître Hussein Berjaoui
Beirut
Auditors
Mr Antoine Stephane
Beirut
Other references
Masri Corporate Credit Reporting Sal
MCCR number 49600
