XPERT Collection Agency, herein referred to
as “AGENCY” and Contracted Company, herein referred to as “CLIENT”
AGREES that the accounts placed with the AGENCY are subject to
the terms and conditions of the following agreement between the
said parties:
1. Collection activities will be in compliance with Federal, State,
and Local Laws and regulations, and be courteous and business like
consistent with the image and reputation of the CLIENT.
2. Collections made by AGENCY on clients’ accounts will be deposited
immediately into a trust account maintained for clients’ disbursements.
All collections made by AGENCY on clients’ accounts will be remitted
to CLIENT less AGENCY collection fee, by the 15th day of the month
following the month of collections. Such statements will be descriptive
i.e. (Debtors name, amount collected, amount due CLIENT, amount
due AGENCY, balance of account).
3. CLIENT authorizes AGENCY to endorse and deposit in its Trust
Account any and all checks, money orders, drafts, cash etc. made
payable to or paid to AGENCY for CLIENT on accounts placed with
AGENCY.
4. CLIENT agrees to provide AGENCY with information on all direct
payments, adjustments, and disputes within a timely manner, not
to exceed 30 days. If this information is not provided to the Agency
per FCRA there maybe a fine for any information not provided to
the Agency. The Client will be responsible for any and all fines
for information not provided to the Agency.
5. The collection fee on payments made to AGENCY and direct to
CLIENT on accounts placed with AGENCY will
range from 18%-30% on 1st placements and 35%
on 2nd . The Client authorizes Agency to settle
for 75% of account if this is the only way
to collect the account in a timely manner.
For Pre-Collect Services there is a Flat Fee
of $4 per account. AGENCY requests to add interest
to your accounts, as State law provides, and
retain 100% of interest collected to offset
expenses and supplement lower collection fees.
6. AGENCY will not initiate any form of legal action without prior
written authority from CLIENT. When legal action is authorized,
CLIENT will execute a written assignment of the account. Legal action
will be brought in the name of AGENCY to further indemnify CLIENT.
All legal action accounts will be charged at the rate of 45%.
7. AGENCY will be responsible for all legal fees and court costs
with reference to accounts placed for collections by CLIENT. The
AGENCY will not be obligated to file suit on any account referred
by CLIENT. Legal fees and court costs will be retained out of first
monies collected.
8. Accounts placed in error by CLIENT with AGENCY for collection
may be withdrawn by CLIENT by written or verbal request. Upon receipt
of such request AGENCY will cancel and return said account along
with all media pertaining to said account that CLIENT may have provided.
AGENCY will retain the right to commissions on paying, settlements,
and insurance accounts, unless other arrangements are made with
management. This article is not a provision for canceling this contract.
9. The Client authorizes the Agency after 30 days of placement
to report the accounts with a credit-reporting agency. i.e.; Experian,
Trans Union, Equifax.
10. In the event the debtor moves out of the area serviced by AGENCY,
the AGENCY may forward account to an associated AGENCY located in
debtors’ area. AGENCY will remain responsible to CLIENT for all
collection activity on forwarded accounts.
11. As further consideration for the receipt and handling and collection
of accounts by
AGENCY, and for the services rendered to CLIENT
by AGENCY, the parties agree that each party will assume its own
proper responsibility in connection with any claims made by a third
party against CLIENT and/or AGENCY. AGENCY being an independent
contractor is solely responsible for the employment, acts and omissions,
control and direction of its employees. If the acts of the employees
of AGENCY are the proximate cause of any action brought against
CLIENT, AGENCY will assume full responsibility for the defense of
said action and payment of any resulting judgment. If the acts of
CLIENT or employees etc. are the proximate cause of any action brought
against AGENCY by third party, then CLIENT will assume full responsibility
for the defense of said action and payment of any judgment.
12. This agreement will be effective as of date shown and continue
in effect until terminated as herein provided. Either party may
terminate this agreement by giving the other party thirty (30) days
notice by certified mail; however, CLIENT may terminate this agreement
immediately in the event AGENCY violates any of the terms or provisions
of this agreement. Termination or cancellation of this agreement
by either party will not affect the collection enforcement or validity
of any accrued obligations owing between parties. Agency will retain
commissions on paying accounts, settlements accounts, insurance
accounts as well as the right to recover any court costs advanced
on said accounts. All accounts returned by Client request may be
charged at the rate of $5.00 each to cover set up costs.
The provisions of this agreement will override any and all contrary
or conflicting provisions contained in the past or present agreements.
Their duly authorized and empowered representatives enter into
this agreement by and between AGENCY and CLIENT on this day.
