Collections Agreement
Our Collection Business agrees to the following terms and conditions:
• That all collection efforts will be carried out in compliance with all applicable federal, state and local laws.
• All monies collected will be remitted to the client with their monthly statement.
· 5% will be charged up front for all collection accounts. This will serve for company contacts, travel, time spent on account. 20% will be paid if and when debt is collected. If payment is not received then 5% will be only money paid for efforts.
• The Client, agrees to the following terms and conditions:
• The Client agrees to report all payments, bankruptcy notices, and any and all communications from the debtor or any third party.
• Once an account has been placed for collection with the Agency, the Client will stop all collection efforts on the account.
• The Client agrees to provide copies of invoices, checks or statements that will verify the debt, if requested by the debtor or the Agency as needed.
• The Client agrees to pay any commission or court costs owed upon receipt of our monthly statement. Once accounts are placed, commission is due if client collects, finds bill was paid previously or resolves account and client decides to write off or close account.
• This agreement shall remain in effect for one full year from the date of signing, and unless terminated in writing by either party with a ninety- (90) day notice it shall automatically be renewed from year to year.
Type of business: ______________________________ Amount Owed: _______________
Client Signature: _______________________________ Date: _______________________
Title: ________________________________________ Ph: ÂÂÂ_________________________
Osorio Financial Signature ________________________ Date________________________