31 Aug

Dunning notice

Of the Dunning notice is a central instrument in the German legal system and initiates the judicial dunning procedure. It is an efficient method for a creditor to assert an undisputed monetary claim against a debtor without having to immediately file a time-consuming and expensive lawsuit. The creditor applies for the order for payment from the competent central court, which only formally checks the claim and then serves the order on the debtor. The debtor has two weeks after service to settle the claim or lodge an objection. If the debtor does not respond, the creditor can apply for an enforcement order, which is equivalent to a judgement and enables enforcement measures. The reminder notice is therefore the final escalation stage in debtor management and follows the out-of-court dunning procedure, which is an integral part of the debt collection process. Sales process in SAP Business One is. Sophisticated add-ons such as the Versino Financial Suite can not only automate the commercial dunning process, but also track the status of legal proceedings and prepare the necessary data for the application.


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