Terms & Conditions

CLIENT AGREEMENT

COLLECTION RATES

Retail Accounts (Consumer) ……………………………………………………	35%
Commercial Accounts (Businesses)……………………………………………	25% – over $5000.00
	35% – $500 – $4999.00
All accounts under 500 or over 1 year past due…………………………….	50%
Account Withdrawals ……………………………………………………………..	15%
Litigation…………………………………………………………………………….	40.00%
Other Judgements/Tribunal Orders…………………………………………	50%

 

TERMS AND CONDITIONS

1. Accounts submitted to Credit Bureau Collection Services of Southwestern Ontario (hereinafter called CBCS) by you (hereinafter called the Creditor) must remain with our agency for a minimum of 180 days. Accounts closed out at the Creditor’s request are subject to Account Withdrawl fee.
2. Once the account has been submitted, the Creditor is liable to notify CBCS of any direct payments made to the client the above collection rates will apply. The Creditor will immediately notify CBCS of any disputes or bankruptcy notifications received by the client subsequent to placement of an account with CBCS.
3. Accounts can and will be litigated by the advice of the collector. Permission to sue form will be faxed to the client.
   court costs and legal fees are the responsibility of the client.
4. Arrangements may be made with a debtor to accept a sum of monies that is less than the listed balance due and owing to the Creditor provided that CBCS has been given approval by an authorized person of the Creditor to accept this arrangement.
5. All monies collected by CBCS will be deposited into a trust account. All funds collected by CBCS will be paid directly to the Creditor by the 20th of the following month or upon verification that the monies have cleared the debtor’s bank account minus the above collection rates.
6. CBCS does not accept responsibility for loss of original documents.
7. the individual submitting the account has the authority or received permission from a person whom has the authority to enter
   into this contract and be bound by the terms and conditions.
8. CBCS warrants that all accounts placed within CBCS are valid and legally enforceable debts and are not disputed or subject to defense, offset, counterclaim or bankruptcy proceedings, unless otherwise disclosed in writing to agency by the creditor. The Creditor will be liable and shall indemnify, defend and save CBCS harmless from and against any and all legal suits.
9. CBCS contract applies to all accounts currently listed and/or will be listed by the Creditor at later dates.
10. Interest may be charged and claimed on accounts submitted, in order to compensate expenses incurred by Credit Bureau, on traced and uncollectible accounts.