Terms of Trade
1. DEFINITIONS
1.1 “We”, “us” and “our” mean Specialist Collections & Consultants Limited or any agents or employees thereof (“SCCL”). “You” and “Your” mean the client and any person acting on behalf of and with the apparent authority of you. “Service” and “Services” include SCCL’s debt collection, and associated services requested by you from time to time.
2. APPOINTMENT OF SCCL
2.1 You appoint us to act as your agent to provide the services in accordance with these terms and conditions, and we accept your appointment.
3. OUR OBLIGATIONS
3.1 SCCL will provide the Service requested promptly and efficiently.
3.2 Provide a written report to you on or before the last working day of every calendar month on all Services that are still outstanding. SCCL will provide to you a written report at any time a request is received from you in writing.
3.3 Instruct, with the prior consent and at the cost of the client, other such persons as is necessary to assist in carrying out its obligation to recover and secure the debt(s) including any barrister, solicitor or field service agent as may be necessary to assist, where instructed, in providing the Services.
3.4 Seek instructions from the client before accepting any offer for payment of a debt where the offer is less than the full amount of the debt except in the circumstances it is not reasonably practical to obtain your authority or where we have your written authority to accept any offer for payment of a debt that we consider fair and reasonable.
3.5 Do such other things as may be necessary to execute any judgment obtained against the debt(s).
3.6 Promptly deposit all monies received on behalf of the Client in the Specialist Collections & Consultants Limited Trust Account and except as otherwise agreed with the client, account for the same to the Client on a monthly basis after deducting all commissions, fees and disbursements (including GST thereon).
4. OBLIGATIONS & WARRANTIES OF THE CLIENT
4.1 The Client warrants to SCCL that all debt(s) referred to us for collection are, at the time of referral, due, owing, payable by the Debtor to the client, legally enforceable and no dispute has been raised.
4.2 Then SCCL receives an instruction to act, the instructing person confirms that they are duly authorised to issue such instructions or the instructing person confirms that they have the apparent authority to issue such instructions on behalf of the client and any other individual or company they represent.
The Client will:
4.3 Give SCCL instructions in writing in respect of each service requested. If SCCL receives oral instructions from the client at any time, the client agrees to confirm the instructions in writing at the earliest opportunity.
4.4 Provide to SCCL the relevant documentation, file notes, witness statements, invoices and all other documents supporting and relating to the debt(s).
4.5 Confirm to SCCL that every debt that we are asked to collect is not disputed In full or in part.
4.6 Confirm that no other debt collection agency, person, partnership, limited liability company or trust has been appointed to collect the same debt from the same debtor. SCCL will immediately upon learning of the involvement of a third party, refuse to act on the instructions given and the client will pay to SCCL a file closure fee of $75.00 + G.S.T.
4.7 Inform SCCL immediately if you become aware any debtor has changed address, private land line telephone number, business land line telephone number, mobile telephone number, email address and P.O.Box number.
4.8 Immediately notify SCCL of any payment paid direct to you. You will not after appointing SCCL, enter into any payment arrangement or compromise with the debtor.
5. PAYMENT OF COMMISSION, FEES & DISBURSEMENTS
5.1 You will pay the collection commission that is being charged by SCCL at the time of our appointment, fees and all other charges as set out and/or agreed from time to time. The onus is upon you to be aware of the amount of collection commission that you are liable to pay to SCCL.
5.2 Collection commission is payable to SCCL on any payment by or on behalf of a debtor, or on any credit raised, compromise reached or contra settlement.
5.3 SCCL will deduct collection commission, fees and disbursements out of monies collected on the clients behalf.
5.4 Where collection commission, fees and disbursements are paid directly to the client, the client shall pay all invoices issued by SCCL for collection commission, fees and disbursements within 7 days following the date of the invoice. If payment is not made on the due date, the client shall pay to SCCL penalty at the flat rate of 10% interest on the balance outstanding plus 5% per month (compounding monthly) on the balance of the invoice outstanding from the due date for payment to the date on which the amount is paid. You will be liable to pay to SCCL all costs we incur as a result of your failure to pay on time, including debt collection costs, and the costs of legal action including lawyers' costs on a solicitor client basis. SSCL may refer details of the account to the nationwide credit reporting agencies.
6. PRIVACY ACT 1993
6.1 The client warrants to SCCL that all information concerning the Debtor(s) has been collected, obtained, used and disclosed in accordance with the Privacy Act 1993 and the Credit Reporting Privacy Code 2004.
7. INDEMNITIES & EXCLUSION OF LIABILITY
7.1 The client agrees to defend, indemnify and hold harmless SCCL,its officers, directors, shareholders, employees and agents from and against any and all damage, loss, cost, liability, tax and expense whatsoever (including reasonable barristers and/or solicitors fees, all and any actual court costs and associated fees and expenses and all disbursements) incurred by SCCL relating to the provision of the Service by SCCL to the client and/or supply of information by the Client to SCCL.
7.2 SCCL shall be under no liability to the client in respect of any loss of any kind suffered by the Client including loss of profits and any indirect consequential or economic loss arising out of or relating to:
-- the provision of the Service to the Client; or
-- the delay in providing or the failure to provide the Service to the Client.
8. COPYRIGHT ACT 1994
8.1 The Service provided to the Client by SCCL may not be reproduced or copied in any form whatsoever without the prior written consent of SCCL. The Service is protected by copyright, all rights reserved.
9. TERMINATION
9.1 Each party reserves the right to terminate this Agreement in writing by giving the other party 30 days notice.
9.2 Upon termination of the agreement by the client, or the client withdraws its collection instructions, SCCL reserves the right to charge a cancellation fee limited to 10% + GST of the outstanding balance of each debt referred for collection.
9.3 The client shall remain liable to pay all outstanding charges owing to SCCL which have been incurred by the Client prior to the termination of the Agreement or the withdrawal of all or any collection instructions in addition to any penalty interest and collection costs legal costs on a solicitor/client basis as set out in clause 5.4.
10. FORCE MAJEURE
10.1 Each party releases the other party from any claim, liability or responsibility under this Agreement concerning the other party's failure or delay under this Agreement where such failure or delay is due to any circumstances whatsoever which is not reasonably within the control of either party (whether actual or contemplated), including but not limited to, any act of God, flood, fire, explosion, earthquake, breakdown of plant, casualty, accident, war, revolution, civil commotion, act of a public enemy, blockage, embargo, ordinance, demand or other requirement of any government or government subdivision authority or representative or any strike, labour or industrial dispute whether or not either party would be able to influence or procure the settlement thereof.
11. OTHER TERMS
11.1 SCCL reserves the right to review its terms and conditions, its rates of collection commission, consultancy fees, management fees, fees and disbursements at any time.
11.2 If a Liquidator or Receiver reclaims money that has been collected by SCCL from the client, the client agrees that SCCL was acting as a service provider to the client and upon the clients' instructions and is entitled to the payment of collection commission, fees and disbursements. The client agrees that collection commission that has been paid to SCCL will not have to be refunded to the client and collection commission due to be paid to SCCL will not be withheld.
11.3 That in issuing any instruction to SCCL the client agrees that they have read, understood and agreed to SCCL's terms and conditions of trade.
