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PRESS RELEASE - European Account Preservation Order (EAPO)

The main provisions of the EU Regulation 655/2014 which came into force on 17 July 2014 apply from 18 January 2017. This EU Regulation establishes a European Account Preservation Order (EAPO) procedure to facilitate cross-border debt recovery in civil and commercial matters. The EAPO procedure allows for a single order to be made in the courts of one Member State which would be capable of 'freezing' any bank account of a debtor in any other Member State. It thus makes it less cumbersome, lengthy and costly for a creditor to obtain provisional measures to preserve assets in bank accounts of their debtor/s located in another EU Member State. Attached please find Full Press Release.

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Press Release - MACM at the 5th World Credit Congress

Josef Busuttil, director general of the Malta Association of Credit Management (MACM), participated in the 5th World Credit Congress, which was held between the 8th and 10th June 2016 at the Marriott Hotel in Bucharest, Romania. During his one hour presentation, Josef Busuttil argued that in today’s commercial world, competition is increasing and suggested that the credit function has become a people’s function and its role has become that to assist sales. Companies are deploying the credit function to gain and sustain competitive advantage in the market.

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PRESS RELEASE - MACM at the 4th World Credit Congress

Josef Busuttil, director general of the Malta Association of Credit Management (MACM), participated in the 4th World Credit Congress, which was held between the 14th and 16th May 2013 at Indaba Hotel & Conference Centre in Johannesburg, South Africa. During his one hour presentation, Josef Busuttil suggested that in view of the current World economic and financial strains, the credit management function should be involved to gain and sustain competitive advantage in the market.

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PRESS RELEASE - New FECMA Officials

Josef Busuttil, Director General of MACM - Malta Association of Credit Management, has been re-elected Vice President of FECMA (Federation of European Credit Management Associations) in a meeting held in Paris, France, on Friday, 19th November 2010. MACM joined FECMA in May 2003 and Josef Busuttil has held the role of Vice President since 2004.

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Press Release - FECMA

FECMA – Federation of European Credit Management Associations has issued a Press Release to be published in all Business Press across Europe regarding the negative impact of Abridged Accounts and Audit Thresholds in view of the current economic and financial turmoil. MACM – Malta Association of Credit Management is member of FECMA Please find attached a news release. For favour of publication.

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MACM at the 2nd World Credit Congress

Josef Busuttil, director general of the Malta Association of Credit Management (MACM), participated in the 2nd World Credit Congress, which was held on the 24th and 25th November 2009 at The Burlington Hotel, Dublin. During his one hour presentation, Josef Busuttil suggested that the credit management function should contribute to gain and sustain competitive advantage in the market. Josef Busuttil said that following the recent credit crisis, the role of the credit practitioners should be enhanced. The credit people should be more involved in the strategic decisions taken by the management team, as they are the ones who are responsible for sound cash flow - the lifeblood of business organisations.

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Press Release - HSBC & MACM Focuses on International Trade, Risk Mitigation & Financing

Undoubtedly, during these turbulent times, local exporters and importers are being faced with formidable challenges in obtaining or effecting payment from / to overseas. In view of its widely acclaimed international network and vast acquired expertise, HSBC is ideally placed to give invaluable assistance in this field. In fact this is an integral part of HSBC’s ‘Leading International Business’ strategy, whereby the bank is highlighting its competitive advantage derived from its unique worldwide network

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MACM Press Release - Revamped Website January 2009

In view of the economic and commercial turmoil that the business community has experienced during the year 2008, the Malta Association of Credit Management (MACM) has been proactive by improving its services and systems provided to its members. All enhancements were made upon the suggestions of the members themselves in order to ensure high quality standard and to meet the various demands of the Maltese creditors. Keeping in mind the importance of sound profit and efficient cash flow management, the revamped website features a wide variety of content and introduces new interactive and unique tools for the MACM users.

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Department of Information - No 1513 Press Release

“Biex nirnexxu fin-negozju rridu nieħdu ħsieb il-cash flow tagħna u noqodu attenti mid-dejn.” Dan qalu s-Segretarju Parlamentari Edwin Vassallo meta kien qed jitkellem fil-ftuħ tal-Konferenza organizzata mis-Segretarjat Parlamentari għan-Negozji Żgħar u s-Self Employed flimkien mal-Malta Association of Credit Management. Il-konferenza ttrattat l-immaniġjar tad-dejn u x’jista` jsir biex negozji ma jbgħatux minħabba dejn li jkunu taw.

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New Council and Officials for MACM

The fourth year of the Malta Association of Credit Management was once again characterised by a remarkable increase in its membership. At this point in time, the member groups have a representative turnover of around Lm 500,000,000 and members are coming from various sectors of the Maltese economy, including: FMCG, automotive, communications, insurance, postal services, shipping, transport, IT services, brown & white goods, hardware, printing, travel, advertising, jewellery, chemical industry and public utilities organisations.

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Banks adopt Code of Conduct dealing with Dishonoured Cheques

The local commercial banks have recently adopted a voluntary Code of Conduct which sets out minimum standards and principles of good banking practice when they deal with cheques which are dishonoured due to non-availability of funds. The objective of this Code of Conduct is to encourage a greater understanding of the roles, rights and responsibilities of the banks, their customers and third parties for their mutual benefit

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Fourth Council of MACM

The third year of the Malta Association of Credit Management was characterised by a steady increase in membership. The Member groups have a representative turnover of more than Lm400,000,000 and are coming from various sectors of the Maltese economy including the FMCG, Automotive, Communications, Insurance, Shipping and Transport, IT, Brown & White Goods, Hardware Supplies, Printing, Chemical & Paints, Security Systems and Services and Utilities Organisations

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MACM Launches its Revamped Web Site

As a result of the continuous increase in membership, the total members’ turnover, coming from various sectors of the Maltese economy, has now reached LM 400,000,000. The Malta Association of Credit Management (MACM), a non-profit, members-owned organisation announces the launch of its improved web site and internet resources to satisfy the various demands pertaining to credit management and control.

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MACM joins FECMA

Following the meeting held in Oslo on Friday, 16th May 2003, The Malta Association of Credit Management (MACM) joined the pan-European organisation FECMA (Federation of European Credit Management Associations). MACM was accepted unanimously by all the members of FECMA present at the meeting.

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Seminar Re Dishonoured Cheques

A cheque is one of the oldest forms of non-cash payment instruments having wide-spread use in almost every country. A cheque essentially is an instruction to the bank to debit the payer’s account for a specified amount and to transfer that value to the payee’s bank for credit to the payee account or to pay out cash.

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Second Council of MACM

During the first year of The Malta Association of Credit Management, leading companies selling on credit and operating in different commercial sectors of the Maltese economy joined the Association, representing in total a market turnover of over Lm242,000,000 and employing 6,000 people. The sectors now covered are FMCG, automotive, insurance, white & brown goods, computers & IT.

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Establishment of MACM

Following a number of meetings between Malta's main automotive and FMCG suppliers, the Malta Association of Credit Management was formed on the 1st of June 2001, with the primary object of providing a central national organisation for the promotion and protection of all credit interests pertaining to local businesses.

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