What Is A Precautionary Attachment?
A precautionary attachment is a court order issued to prevent the transfer of the debtor’s property to third parties in order to prevent the debtor from evading its assets. Especially in commercial activities based on bills of exchange (checks, bonds), in the event that the debtor is unable to pay the bills of exchange, the legislation in force has allowed the creditor to apply a precautionary attachment against a certain collateral in order for the creditor to collect the receivable quickly.