Commercial disputes are common place worldwide. Be it unpaid invoices, product quality problems or outright fraud. Anyone doing business has to stay alert of potential financial losses due to such uncertainties.

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While some problems can be avoided or minimised through timely research of information on the partners you are doing business with, others may occur regardless of any precautions that might have been taken. Regardless, when things go wrong GIC/AHK Hong Kong helps with business intelligence as well as with direct intervention.

Ad Hoc Dispute Resolution

In cases of commercial disputes, it is traditionally the role of an AHK to help resolve conflicts by way of informal communication between the parties involved in a neutral manner. These are explicitly NOT legal proceedings and It is not the role of an AHK to adjudicate, but to help identify possible compromises.

The minimum requirement for this is that both parties are present and willing to negotiate.

Of critical importance in such cases is to know:

  • Who are the contracting parties?
    It is often the case, that e.g. a buyer or seller of goods in Hong Kong or China holds legal entities in both locations. Thus, it can be unclear at times, who is the legal party in the contract. This is important as the legal systems in Hong Kong and P.R. China are different. Our scope of services covers the territory of the Hong Kong SAR only.
  • When did the dispute arise?
    The older the debt, the smaller the chance to settle. 
  • What is the amount and currency of the dispute? 

In cases of outright fraud or if the whereabouts of the defendant party are unknown or cannot be reached, we suggest seeking legal counsel as our scope of services are limited.

Engagement fee: Euro 300 per case.

Market Intelligence / Reports

To investigate the legal status and solvency of a business partner in Hong Kong or in Germany, we can help to arrange relevant business intelligence, namely credit reports and company registry retrievals. Detailed offer on request.

The most common reports provided are:

  • Annual return/Handelsregisterauszug, certification and apostille service
  • Company credit report (regular and express)
  • Other documentation such as company articles of association, court filings, certificates of registration, certification and apostilles etc.

Prices range between Euro 50 and 500 depending on the scope.

Identity Verification (KYC)

Companies and individuals overseas, who wish to open a bank account in Germany, can have their identity verified by our office, provided the receiving bank in Germany agrees to the procedure and acknowledges the documents supplied. For reasons of compliance banks need to verify their customers’ identities by way of personal meetings. Our verification service saves the customer from having to travel to Germany. Applicable to Hong Kong registered businesses and residents only.

Engagement fee: HK$500 per account opening