MODINT Credit & Finance has been active for several years in assisting various Turkish clothing manufacturers in properly managing legal frameworks in international trade and helping to collect outstanding invoices. By joining forces with TGSD, MODINT Credit & Finance strengthens its international activities and provides TGSD members access to specialized services.
During a webinar for TGSD members last week on “Reducing debtor risks,” the collaboration was formalized by the signing of the partnership agreement by Frans van der Hoorn, Managing Director of MODINT Credit & Finance, and Sanem Dikmen, co-chair of TGSD.
The webinar was attended by about 45 members and focused mainly on developments and current affairs in Northwest Europe, particularly Germany and the Netherlands. Many Turkish clothing manufacturers have numerous customers in the region and are increasingly faced with payment problems from clients. The international services of MODINT Credit & Finance provide them with solutions.
MODINT lawyer Wolfgang May RA highlighted the opportunities but also the (legal) risks of doing business in Germany, especially the phenomenon of ‘Insolvenzanfechtung’ and the increasingly common insolvencies such as ‘Schutzschirmverfahren’, before explaining how to protect oneself with a good retention of title
Allianz Trade presented on the current economic situation in the Netherlands, developments in bankruptcies, current Western European country risks, and an outlook on expectations from the perspective of the credit insurer.
Finally, Jeroen Leijser provided an overview of the ‘state of fashion’; the situation in the retail supply chain, expected developments in the industry, and how Turkish companies can respond to them in order to avoid or address risks appropriately.
