Debt Recovery Terms Of Business
1. For the purpose of this contract Direct Collection Bailiffs Ltd shall be referred to as the company, and the client, whose name and address appears overleaf, shall be referred to as the client.
2. The company shall use its best endeavours to pursue and collect overdue or bad debts for a period not exceeding one hundred and twenty days. After one hundred and twenty days, the company shall report its findings in writing to the client. Should it be deemed by mutual consent of the parties to this contract necessary to pursue any debt or debts beyond the above mentioned one hundred and twenty day period. The company would undertake to pursue said debt or debts for no further charges to the client.
3. The company shall act for and on behalf of the client’s written instructions as agents and representatives of the client.
4. All monies collected by the company shall be paid to the client and shall be subject to a commission payment to the company by the client as outlined overleaf plus VAT. Should no collection be made no commission will be charged. Collection shall be deemed to have applied where monies have been transferred from debtor direct to the client as a result of the companies involvement, in which case the appropriate commission charges shall apply.
5. Once a debt has been issued to the company any monies received by the client including monies received by the client direct from the debtor/s or goods returned in lieu from whatever source will be deemed a collection as a result of direct action by the company and payment from the client to the company will be due to be paid in full within 14 days of receipt as stated in para 4.
6. Both parties agree that no legal proceedings on settlements shall be entered into by the company on behalf of the client without first obtaining the clients permission to do so in writing and then only upon receipt of the appropriate legal fees.
7. The client shall have, at all times, the right to terminate this contract subject with the condition that all administration fees are not refundable and that there should no entitlement to the client to make the demand upon the company to refund any administration fee whether in whole or part.
8. The client shall pay to the company an administration fee in respect of this agreement, as specified overleaf.
9. The company shall not be expected to provide written progress reports to the client or agents of the client within the 120 day period of the contract verbal reports can be provided by contacting the companies offices and quoting the unique client reference number.
10.The Company will not be held responsible/liable for debtor’s whereabouts proving insuperable, or in the event of the debtor not being, for legal reasons, able to underwrite the debt.
11. The Company hereby undertakes to observe confidentially at all times.
What Our Clients Say...
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