Measures to Reduce Accounts Receivable

One of the main responsibilities of any business entity's head is not only the efficient use of the resources of the entity they lead but also the timely adoption of a full range of measures aimed at reducing the level of accounts receivable.

In this regard, I clarify that in case debtors fail to take measures to fulfill their obligations to pay for goods (works, services) after pre-action work has been carried out, business entities have the right to apply to the district prosecutor's office with petitions for the initiation of writ proceedings and (or) statements of claim in the economic court on their behalf, attaching relevant materials confirming the existence of contractual obligations and their non-performance.

Furthermore, Decree of the President of the Republic of Belarus No. 366 of August 11, 2011, "On Certain Issues of Notarial Activity" (hereinafter - the Decree), establishes a list of cases where notaries, in compliance with the procedure and conditions stipulated by legislative acts, make enforcement endorsements for collection.

At the same time, based on the content of paragraph 2 of the Decree, claims for the collection of monetary amounts (debts) in these cases are not subject to consideration in courts under writ proceedings.

I also draw attention to the fact that the failure to take exhaustive measures to eliminate overdue accounts receivable is regarded as improper performance by managers of their official duties regarding the preservation of entrusted property and entails disciplinary and material liability, including by collecting uncollectible debt from the manager who failed to take exhaustive measures for its timely collection.

Deputy District Prosecutor

Junior Justice Advisor V.V. Doylidov