First Debt Agency is created in Azerbaijan

Business Materials 7 January 2012 14:35 (UTC +04:00)

Azerbaijan, Baku, Jan 7 /Trend N.Ismayilova/

The first collection agency Ltd Collection Agency BOA passed the state registration in the Ministry of Taxes of Azerbaijan.

Rustam Hajiyev and Ilkin Garibli are the founders of the company. Official website of the Ministry said Rustam Hajiyev is the legal representative of the agency. Ltd. was established with a capital of 100 manat.

The agency has passed the state registration on December 19, 2011.

The collection agency, also known as debt agency is an agency specializing in recovery of overdue accounts receivable and problem debt, a form of business which purpose is to promote the commission payments on debts of individuals and entities.

Most collection agencies exist and operate as an agency of lender, and collect debts for a fee. The fee is formed from the certain predetermined percentage payments of the total collected

Official exchange rate on Jan 7 is 0.7864 AZN/USD