The process of claims recovery by LCH Claim Services is carried out in three phases: First of all LCH Claim Services negotiates in a professional, friendly and factual manner an out-of-court settlement of the matter. This is of utmost priority at every stage, since it saves costs and resources and a legal enforcement of claims generally does not offer any advantage when taking into account the costs incurred hereby. In doing so, we always focus on our clients’ long-term commercial interests.
Unfortunately, it is not always possible to reach an out-of-court settlement. In this case, LCH Claim Services chooses and recommends one or more adequate law firms from its network, depending on the place of jurisdiction at home or abroad, for the legal enforcement of the claim. LCH conducts the correspondence with the law firms on behalf of the client and undertakes the project management.
Following the conclusion of the court proceedings LCH collects the claim or deals with the enforcement.