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8424.BLD
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1992-08-31
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87 lines
#8424
@001 Enter the name of collection agency:
@002 Enter the name of the client:
@003 Enter agency fee in percent:
@004/@004/@004 Reports shall be provided on collection activity:
month
quarter
KEY IN VALUE
#end control section
#8424
/* Para. 8424: Collection agency agreement */
COLLECTION AGREEMENT
@001, referred to as AGENCY and @002, referred to as CLIENT,
agree:
AGENCY represents that it is properly licensed, bonded, with a
capable and trained (if required) staff of collectors, and can
effect reasonable and lawful effects to collect accounts
receivable of CLIENT.
CLIENT shall provide to AGENCY, from time to time, accounts
receivable to collect. CLIENT represents that any accounts which
it turns over to AGENCY are legally due and owed. CLIENT shall
provide upon request to AGENCY source documentation for any and
all accounts due, and, verification of any balance due.
AGENCY shall at all times conduct collection activity on behalf
of CLIENT in compliance with all lawful regulations and laws and
shall hold CLIENT harmless from any claims related to unlawful
collection activity. A periodic report of the status of all
collections shall be provided to CLIENT by AGENCY at least every
@004.
AGENCY shall receive a fee of @003 percent from all sums
collected on behalf of CLIENT. AGENCY may deduct from sums
collected its fee; however, all sums which are due to the CLIENT
shall be held in a separate trust account. In the event that a
debtor returns merchandise, the value for the purposes of the
agreement shall be the net sales price received for the same, or
if the merchandise is accepted by CLIENT, 1/2 its wholesale
value.
CLIENT shall be entitled to, either itself or through designated
agents, auditors and accountants, conduct audits of the books and
records of AGENCY to verify accountings.
CLIENT shall be entitled to withdraw accounts once assigned from
AGENCY, however, if any collections are made as related to such
accounts shall be reported to AGENCY, and the AGENCY fee paid.
AGENCY shall be responsible for all expenses related to its
collection efforts, other than court costs and attorneys' fees,
if suit is authorized, and expenditure is approved for court
costs and attorney's fees. Any suit fees or court costs shall be
approved in writing prior to their expenditure.
Dated: _________________
____________________________________________________
@001
____________________________________________________
@002