The European Payment Order (EPO) is a system of cross-border debt-collecting methods established on December 11, 2006 that is used in the European Union

European Union

The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...

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Uses

The European Payment Order is only available for cross-border cases. It allows for citizens and businesses to use a simple method to enforce uncontested payments. Small businesses in particular should benefit from the EPO since it provides a simple, cost-effective method of collecting payments from a multinational group of customers.

Local Law

Local debt-recovering systems work alongside the European Payment Order. Creditors can choose which system they wish to use. One of the biggest benefits of using the European Payment Order is that it is specifically designed to work in multinational scenarios.