On November 15, 2016, the Dutch Authority for the Financial Markets (AFM) published the guideline ‘Consumers and Collection Processes’.
This guideline outlines what is expected of credit providers under legislation and regulations, and how they can prioritize the customer’s interests in cases of payment arrears. The AFM emphasizes the responsibility of credit providers in handling collection issues related to consumer credit and has established rules regarding the use of collection agencies by lenders.
According to the Dutch Financial Supervision Act (Wet financieel toezicht), it is prohibited in the Netherlands to mediate without a license issued by the AFM. This means that if credit providers wish to use a collection agency when mediating between the lender and the customer, the agency must hold an AFM-issued license. AVS Netherlands has held an AFM license since 2017, which can be found under license number: 12044888.
Thanks to our AFM license, AVS Netherlands B.V. meets all AFM requirements and is authorized to locate and repossess vehicles if requested by our client.
Remuneration Policy
AVS Netherlands B.V. complies with the Dutch Financial Enterprises Remuneration Policy Act (Wbfo). Our organization does not use a remuneration structure that could influence employee behavior. In short: all employees of AVS Netherlands B.V. receive a fixed salary, there is no bonus structure, and working on a commission basis is excluded. Our organization also does not employ freelancers.
For further questions or comments regarding our AFM license, please use our contact form.
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