how to recover outstanding payments from foreign party.

I presume you have exported certain goods to a foreign party and such a foreign party is not paying. Hope, before sending the goods, you have taken the precaution of obtaining Status Report on the overseas party from Dun and Bradstreet or such other credit information agencies so that the overseas party is in fact available at the address given to you and his credentials are established.

Recovery in such cases is not easy for the simple reason that it is difficult to file a case in the country of the Importer and later if at all a suit can be filed, it would be prohibitively costly defeating the very purpose of filing suit. And later execution of Decree is also very difficult.

You may seek the assistance of the Indian Embassy in the country of the Importer giving full details to them.

You have not posted the material facts.

Recovering money from international ventures or extricating oneself from such circumstances is indeed a time-consuming, complex, and an expensive process. One needs to be well versed with the nitty-gritties of the foreign trade dynamics involved.

As it turns out to be extremely expensive for you as the exporter to visit the court of an unknown country and, that too, coupled with the stressful, long drawn legal procedures, you may utilise the services of some agencies who will be effective to recover the amount due to you on their terms. 

One among such agencies is The Dollar Business (TDB).

The Dollar Business (TDB) may help you get your money back through its specialized money recovery feature called TDB RECOVER.

It negotiates a reasonable repayment plan and watches it through to completion. Using advanced technology, their collection team members ensure your money recovery along with flexible lettering and payment arrangements.

You can cotact any simiar orgnisation also rendering  such services 

You have not described the transaction and left things to the imagination.