LIC – International
WHAT IS LIC?
LIC, League International for Creditors, is an association of independent debt-collecting firms, credit reporting firms, law firms and credit managers, comprising approximately three thousand seven hundred skilled professionals. A number of these firms are confidential partners with Embassies and Consulates. Nearly half a century of experience and co-operation have moulded LIC into what is today, an association of reliable experts.
HISTORY OF LIC
The Association was founded in 1962 in Germany. Its founders were agencies in Germany, France, Austria and Switzerland. Its first president, elected in 1962 was Dr. Rieber of LIC Germany and he continued as President of the Association until 1990 when he retired and was replaced by the current president Dr. De Feu, Ireland. In 1963 Great Britain and The Netherlands joined and in 1987 the membership was opened to allow more than one member per country to join. In 1992 LIC, representing the collection industry, developed a close co-operation with the European Commission. Such co-operation was in part instrumental in the subsequent directives concerning interest penalties on late payments.
The association developed important co-operation networks and contacts during the pre-internet age which have continued and expanded in line with technological advancement. It is a cohesive and highly motivated group of experts who deal with approximately one hundred and fifty thousand exporters from all over the world who entrust their collection cases, credit reporting needs or legal assistance matters to its members. In recent years LIC members have been provided with collection cases totalling in value approximately €7,000,000,000 per annum.
COMMITMENT AND GUARANTEE OF LIC
The LIC international network of reliable representatives can help creditors to resolve their debt collection, credit reporting and legal assistance needs regarding credit management in almost any country worldwide. All members are bonded as required in their state or country. In addition they have pledged to abide by the Code of Ethics and LIC Rules and Regulations. To become and remain a LIC member, ethical conduct is required and competent business operations are a necessity.