Legal Opinion: Is your business partner creditworthy?

A new act on providing access to business information dated 14 February 2003 (in force as of 26 April 2003) constitutes a legal framework to allow general access to certain information relating to the creditworthiness of entrepreneurs or consumers. Those who are or have been in default in respect of their financial obligations or have committed a crime by using forged or counterfeit documents are now legally identifiable. The government has also intended the new act to restrict and regulate the process of publishing information on debtors and provide some protection for them in respect of their personal data. Therefore, no information on debtors may be passed unless upon prior written notice to debtors of the intention to do so. The act prevents the unauthorized publication of 'debtor black lists' on the internet, as has been common practice in recent years. Data is collected and administered by credit reporting agencies, private companies supervised by the Economy Ministry. To achieve faster, more cost effective and up-to-date service, the collection process and the provision of access to information is being performed on-line. The system is relevant only to commercial relationships between entrepreneurs or consumers, i.e., it will be impossible to enter or obtain data regarding any entrepreneur's default in the making of payments arising from employment contracts. For further information please contact Lejb Fogelman or Jarosław Grzesiak at Dewey Ballantine Grzesiak LP. Książęca 4, 00-498 Warsaw. Tel +48 22 690 6100; fax +48 22 690 6222; www.deweyballantine.com