Seventy-five percent of Slovak companies have encountered problems with collecting monies owed to them over the past six months, while one-third says it is a frequent or even a very common problem. A survey of the payment discipline of Slovak companies by insurance company Atradius found that as many as 36 percent of respondents experienced cases where they were not paid at all. According to the head of Atradius’ Slovak branch, Tomáš Mezírka, Slovak companies say that their key clients' failure to pay would cause them serious problems. It is thus striking that their protection against this is surprisingly low. Thirty-seven percent of the surveyed companies did not take any measures to protect their claims. Of companies that do apply such measures, 26 percent demand advance payment as protection.
Protection against overdue receivables in Slovakia is the lowest in the region, according to Mezírka. Slovak companies settle an invoice within 31 days on average. Polish firms are the most disciplined, paying up within 23 days on average. The survey, conducted by the Factum Invenio agency for the Atradius Credit Insurance, covers the past six months and was carried out in the Czech Republic, Hungary, Poland, Romania and Austria in 1,200 firms with varying turnovers. SITA
Compiled by Zuzana Vilikovská from press reports
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3. Jul 2008 at 17:00