The European Payment Order (EPO) is a system of cross-border debt-collecting methods established on December 11, 2006 that is used in the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

Uses

The European Payment Order is only available for cross-border cases. It allows for citizens and businesses to use a simple method to enforce uncontested payments.

Small business Small businesses are types of corporations, partnerships, or sole proprietorships which have fewer employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to ap ...

es in particular should benefit from the EPO since it provides a simple, cost-effective method of collecting payments from a multinational group of customers.

Local law

Local debt-recovering systems work alongside the European Payment Order.

Creditor A creditor or lender is a party (e.g., person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property ...

s can choose which system they wish to use. One of the biggest benefits of using the European Payment Order is that it is specifically designed to work in multinational scenarios.

References

European Union law 2006 in European Union law 2006 in the European Union European Union regulations Judicial cooperation in civil matters in the European Union {{EU-stub

Uses

Local law

See also

References