CLAIM ASSESSMENT REPORT
DEFINITIONS FOR CLAIM ASSESSMENT REPORT / DEBT COLLECTION PROCESS:
1WHO IS CLAIMANT ?
A party (e.g. person, organisation, company, or government) who believes that he or she has a right to an amount which derives from the purchasing of goods or by the provision of services or lending property or money e.t.c
2WHO IS DEBTOR ?
A debtor is a party (e.g. person, organisation, company, entity) that owes to another party, the creditor, (e.g person, organisation, company, entity), a debt.
3WHAT IS GOVERNING JURISDICTION ?
Governing jurisdiction determines which country’s courts will hear any claim brought under the contract in the case of a dispute.
4WHAT IS COURT ORDER ?
A direction issued by a court or a judge requiring a person to do or not do something. Direction of a court or judge normally made or entered in writing, and not included in a judgement, which determines some point or directs some step in the proceedings
5WHAT ARE MOVABLE ASSETS ?
i.e. refers to assets that can be moved without damage or permanent alteration to the asset. Examples include auto-mobiles, clothes, appliances, machinery, furniture, liquid assets (shares, bonds, deposits and anything else that can be easily converted into cash) and so on.
6WHAT ARE IMMOVABLE ASSETS?
i.e. refers to assets that are fixed or immobile/immovable or cannot be moved without causing destruction or permanent alteration to the asset. These refer to land, buildings, hereditary allowances, rights to way, lights, ferries, fisheries or any other benefit which arises out of land, and things attached to the earth or permanently fastened to anything which is attached to the earth.
7WHAT ARE STATUTORY BOOKS ?
Statutory Books are the official records kept by the company relating to all legal and statutory matters. A company's statutory books are usually kept at the registered office of the company.
8WHAT ARE ASSETS ?
Any item of economic value owned by an individual or corporation, especially that which could be converted to cash. Examples are cash, securities, accounts receivable, inventory, office equipment, real estate, a car, and other property.
9PERSON RELATED TO DEBTOR
Companies or individuals, who have interest in or claim against the Debtor or are associated directly or indirectly with the Debtor.
Any commercial, industrial or professional activity, undertaken by an individual or an entity.