Debt Collectors Associates
Hereinafter referred to as DCA
Terms & Conditions of Trade
THE DUTIES AND RESPONSIBILITIES OF DCA:
DCA will act upon the submitted debt from the Client to resolve and secure debt collection from the clients debtor.
The Client authorises DCA to instruct such other persons as it deems necessary to assist in the resolving and securing of debts. Such costs will be payable by the Client. ie Service Agents, Solicitors, Barristers, Receivers and Liquidators etc.
DCA shall receive approval from the Client before accepting any offers of payment of a debt where such offer is less than the full amount of the debt.
The Client authorises DCA to bank into DCA’s bank account. Funds received by DCA shall be held on behalf of the Client in DCA’s Account and will be accounted to the Client on a monthly basis.
DCA will furnish regular progress reports, designed to keep the client informed, and also to act on further instructions required from the client.
THE DUTIES AND RESPONSIBILITIES OF THE CLIENT ARE AS FOLLOWS:
The Client will pay DCA Commission in accordance with DCA’s standard rate structure as per the current terms of trade where settlement is effected either in part or in whole by either party to this agreement, settlement being:
The Client will pay DCA Commission in accordance with DCA’s standard rate structure as per the current terms of trade where settlement is affected either in part or in whole by either party to this agreement, settlement being:
Commission is payable by the Client as follows:
When payment is made by the Debtor to either the Client or DCA.
Where goods have been returned for credit or have been repossessed
Where the Client and the Debtor agree to any settlement by way of a Contra Agreement or simply accepts a lesser amount in settlement, commission will be payable on the full account.
Where the Legal System, ie. Judge or Disputes Tribunal, rule that an account is to be reduced and/or dismissed, commission is payable on the full debt.
The Client shall provide DCA all relevant information concerning the debt and the parties responsible for the debt. DCA will accept no liability for the veracity of such information and will not be liable for any actions-
-arising out of the term of this agreement or information supplied to DCA by the Client. Furthermore the Client will indemnify DCA in respect of any such liability which may arise.
The Client accepts that legal action is only used to assist in recovery action and accepts that, if applied, there is no guarantee that their debt will be collected.
If the Debtor or any other person makes payment towards a debt direct to the Client, the Client shall immediately notify DCA of such payment in order for DCA to amend or withdraw any the collection process.
The Client authorises DCA to contact the Debtor at any time under the proviso’s set by the Privacy Act 1993 and the Client will confirm to the Debtor that DCA has the authority to do so if necessary.
Payment of invoices issued by DCA shall be payable within 7days day of the invoice, or DCA may offset funds received from the debtor to cover the invoice amount owed by the client. Legal cost must be paid to DCA on presentation of invoice. Court awarded cost will be reimbursed to the client after any monies owing to DCA has been paid in full.
In the event of non-payment of DCA’s invoice by the Client, all costs and disbursements incurred in the recovery of the invoiced amount by DCA will be payable by the Client, plus interest at the rate of 24.0% p.a.
DCA reserves the right to cease any action on a Client’s file, where DCA believes that they may be put at risk or there is an act of misconduct by the Client.
The Client must notify DCA of any dispute in writing that they may have with DCA’s service within 7 days of receiving DCA’s account. Failure to do so will result in the account becoming fully payable by the 7th of the invoice.
Once the Client has given a Dispute or advice of poor service to DCA in writing; DCA has 21 days to review the file and correct any error at no cost to the Client if required. In accordance with the Fair Trading and consumer Guarantees Act.
DCA reserves the right to invoke a closure fee equivalent to full commission if a file is closed or cancelled without legitimate justification.
Where a client fails to issue instructions within 7 days of a progress report being provided, DCA reserves the right to deem that file as ‘settled’ and charge full commission.
Where a client fails to pay their account to DCA, DCA reserves the right to close all files on a commission bearing basis.