Receivables

The right to receive payment (claim) arises from a legal relationship between a creditor and a debtor, under which the debtor is obliged to settle its obligation to the creditor. In practice, this is most often a monetary claim, i.e. the right to a monetary consideration. If the debtor fails to fulfil this obligation, the obligation is enforceable by state authorities, primarily in insolvency proceedings, and also by public auction or by satisfaction of claims in bankruptcy proceedings. For more information on legal relationships establishing an obligation, see §§ 488 et seq. of the Civil Code.

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