MISSION STATEMENT

Our objective is to provide the most effective, cost efficient, prudent business solutions to debt recovery problems in Africa.

Christopher Bean & Associates, International Recoveries

What We Do
Business in Africa is invariably conducted in a different manner from that in Europe & the USA . Our network is composed of international lawyers, bankers, recovery agents and businessmen who are well versed in dealing with business problems in Africa and, therefore, have experience in and a fundamental understanding of that vital difference.

How We Do It
The team visits the debtor in the country where the debtor is located. In those cases (approx. 30%) where our powers of persuasion are inadequate, we have established our own network of proven legal correspondents (i.e.: attorneys, bailiffs and huissieers de justice) throughout the continent whom we instruct personally. By this we mean that we are personally/physically on the spot to assist the correspondent in achieving our goal which is the recovery of money or attachment of assets. We do not operate vicariously and that is why we are successful. We also don't have to break peoples' legs to achieve our goals.

Forensic Tracing / Criminal Debtors
We have an extensive knowledge of attachment procedures in most jurisdictions. Often the debtor in Africa has "nestegg" assets in Monaco, the UK, Switzerland or elsewhere in Europe. Therefore, if necessary, (and very often it is necessary) we are able to search for and, upon discovery, attach assets almost anywhere in the world. To this end we also make use of police agencies such as Scotland Yard, the FBI and Interpol.

Why We are Different and Better
The method of physical confrontation is far more effective than written or telephonic correspondence. Frequently, we find that a visit from one of our team is enough to find a solution. The solution often involves a debt repayment schedule, a barter, or a debt secured on a mortgage.

With our understanding of law in Africa - be it based on the French, Portuguese or English systems - we have set many precedents in the way in which we operate. For example, we were the first lawyers to have obtained and used a Mareva injunction (attachments) in Tanzania, Zambia and Ghana.

Our Fees
Our fee structure is simple, reasonable and fixed. The creditor, our client pays IRL a nonreturnable advance of between 10% and 15% of the value of the debt (debts in excess of $400,000.00 attract a lower deposit) The advance is used to cover travel, hotel and legal costs vital to achieve recovery. IRL then takes a further agreed percentage (usually the same as the initial commission) on whatever is recovered. This formula guarantees that the clients know the limitations of their costs of recovery and the client will also be aware that we are results driven.

We will not undertake any commission unless there is a strong prospect of a successful recovery.

Note
- Debt recovery requires investment. One has to spend money to make a return because, from the moment when the debtor is in default, the creditor has nothing except hope until a return is made.

- There are collection agencies who lure clients with a "no cure no pay" arrangement. By nature of the fact that virtually all debts require an initial financial investment in terms of investigation, surveillance, litigation, monitoring and persistent, consistent pressure on the debtor, it is a fools paradise to believe recoveries in Africa are possible on a contingency basis

- In many cases we keep the debtor under continuous pressure to repay until the end - which is why some of our cases have taken many years to finalize and recover. In our experience, very few significant recoveries are made by arriving like "Zorro " in a foreign country, and then exerting brief pressure on the debtor in pursuit of a claim. However, the additional time spent pursuing the debtor does not cost the creditor more money.

- The reality is that the (a) debtor country itself or (b) the debtors themselves are in economic difficulties. This often results in the recovery period and level of difficulty being heightened.

Success Rate
Our success rate on specific cases is dependent on several factors including the age of the debt and the financial standing of the debtor. Since 1999, however, we have made returns ranging from a low of 44% to a high of 80% in Africa.

In another light: Our recovery reconciliation figures show that for every dollar the creditor has spent on our services, that creditor has seen an average of $3 in return

References
At the point when the client is about to instruct us formally, we will provide that client with names of referees / other clients who will explain and provide references. Contact our South Africa Debt Collection Offices Today.