Debt Collection Contingency Rates

Debt Collection Terms and Conditions

1. By executing this Collection Agreement and Submitting claims online, via fax, or via email; CLIENT authorizes National Business Collections to perform debt collection services according to these rates and terms and conditions on all accounts placed for collection, including credit bureau reporting. Rates are for accounts not previously placed with another agency.

2. This agreement shall become effective upon submission of account(s), and shall last for a term of twelve (12) months. HOWEVER, either party may cancel this agreement at any time with a thirty (30) day written notice. In the event that payments are received within 2 months, by either party, after the account has been closed or returned, National Business Collections shall receive their commission.

3. Upon placement of a claim(s), where a Debtor owes funds to the CLIENT, National Business Collections will use its best efforts to expeditiously collect the claim(s) on behalf of the CLIENT. National Business Collections agrees to charge a commission only on funds actually paid by the Debtor to National Business Collections or the Client and not the actual amount owed, subject to the provisions of paragraphs below.

4. CLIENT warrants the validity, amount, and authenticity of all claims and accounts placed with National Business Collections for collection. Upon request by National Business Collections, CLIENT agrees to forward documentation to National Business Collections to prove the amount, and authenticity of the claim when requested.

5. National Business Collections shall notify CLIENT of any settlement offers received by National Business Collections, and no settlement offer shall be accepted by National Business Collections without CLIENT’S expressed consent.

6. CLIENT shall report all direct payments made by Debtor to CLIENT within three (5) business days of receipt of payment by CLIENT, and the commission due National Business Collections on the direct payment shall be remitted to National Business Collections within (30) days.

7. Any merchandise returned to CLIENT by Debtor after initial contact by National Business Collections shall entitle National Business Collections to a commission equal to 10% of the actual invoiced amount when the equipment was purchased.

8. Any claim placed with National Business Collections by CLIENT that is discovered to have been previously paid by Debtor or placed by CLIENT in error will be billed by National Business Collections to Client at a rate of 10% of the claim as an administrative fee for services rendered.

9. CLIENT grants to National Business Collections express authority to endorse and negotiate any check, draft, or other negotiable instrument made payable to CLIENT for deposit in trust for distribution to CLIENT after deducting the commission and fees due National Business Collections under this agreement.

10. National Business Collections shall account to CLIENT all funds collected by National Business Collections on CLIENT’S behalf, and all remittances and/or invoices will be sent on a monthly basis.

11. In no event shall National Business Collections be liable in any respect for the inability to collect any account placed with National Business Collections by CLIENT for collection. It is understood and agreed that National Business Collections is not a guarantor of any specific result on accounts placed by CLIENT.

12. National Business Collections agrees and shall hold harmless CLIENT from any claim, demand, action, cost or judgment, including a reasonable attorney’s fee arising out of any act done or failing to be done by National Business Collections in connection with the collection of any claim(s) placed with National Business Collections by CLIENT for collection.

Claims Not Accepted for Collection

• Small claims court judgments.
• Claims with no supporting documentation.
• Claims against businesses that are no longer in business with no personal guarantee.
• Other claims were deemed unacceptable by National Business Collections Financial Services.