The Palestinian market faces significant challenges related to commercial disputes and financial collections due to various factors. We aim to help our clients resolve these issues as quickly as possible, given the critical importance of time in financial matters.
Debts and receivables pose major economic problems for companies and individuals, impacting the national economy and particularly affecting Palestinians. The number of legal disputes related to financial collections has been increasing annually. For instance, the Monetary Authority's report on returned checks highlights this issue, showing a significant rise in their value:
In 2015: $670 million.
In 2016: $831 million.
In 2017: $1.15 billion.
In 2018: $1.05 billion.
In 2019: $1.277 billion.
In 2019: $1.52 billion.
In 2020: $2.07 billion.
In 2021: $1.5 billion.
In 2022: $1.5 billion.
In 2023: $1.6 billion.
In 2024: $1.68 billion.
This means that more $800,000 in returned checks occurs every hour of operation. Additionally, cases related to financial claims registered in courts increase annually by 15%, underscoring the magnitude of this problem for both companies and individuals.
The types of debts are categorized as follows:
1. Debts with Executive Documents: This includes returned checks, other commercial papers, executive agreements, and court rulings, all of which are ready for debt settlement.
2. Commercial Debts: These arise from commercial disputes, bankruptcy, commercial contracts, and other reasons.
3. Civil Debts: These result from contracts, agreements, or ordinary civil transactions.
