In Romanian Law a debt represents a patrimonial right in on the basis of which the creditor can request from another person (named debtor) to act per his obligations. The debt is of a relative character, being only opposite to the debtor. Per its stipulations the creditor gains a possessory lien over the debtor’s patrimony.
In the case the obligation remains unfulfilled, the creditor has a number of ways to execute the debtor.
The debtor is able to request the execution of the obligation in its nature when this is still possible or the execution through an equivalent, respectively by obtaining damages from the debtor in the case the latter cannot or chooses not to fulfill the contractual obligations.
For the enforced execution of the debtor, the creditor must possess a Court Decision or another execution decision.
This Court Decision can be obtained in several ways:
1. through the procedure known in Romanian Law as “Summons for Payment”
The summons for payment procedure requires explicit documents that can prove the debts (without penalties).
This procedure takes place at the creditor’s request with the purpose of executing freely or forcedly debts representing obligations of payment of certain amounts, assumed through a written contract or determined through a different statute, regulation or written document, agreed upon by the parties by signing or through another lawfully admitted method and which attests rights and obligations regarding the execution of certain services.
According to law, the documents should be signed by the debtor. If possible, the documents should be also stamped by the debtor. If all these conditions are met, the complaint shall be immediately judged. In this procedure, an irrevocable and final decision shall be obtained in maximum four (4) months. The documents required by law are: invoices, orders, account files or any other written document proving the concerned amount of money.
It is important to note that the Romanian Court might not admit certain Summons of Payment trials, if the judge considers written proof to be insufficient; the only admissible proof during the Summons of Payment procedure being written documents.
2. by common law procedures.
After obtaining the Court Decision the creditor can move to the actual execution of the debtor.
The creditor has a number of ways to protect himself from a possible insolvency of the debtor. The creditor can request from the Court to lay a distraint upon the debtor’s patrimony. Also he can sign a contract of “movable guarantee”, which per the current legislation represents an execution decision which can be used immediately in the event that the debtor does not fulfill the main obligation of his contract.