Bonded, Licensed, Insured and Proud Members of the IACC

Terms & Conditions

 

Goldman, Evans & Trammell LLC (hereinafter referred to as "Agency"), agrees to render services to customers (Hereinafter referred to as "Client").  Each account forwarded by Client shall be deemed transferred and sent over to Agency for collection effective and subject to the following terms, conditions and provisions:

 

Client shall, from time to time, transfer certain accounts to Agency for third-party collection.  Client agrees not to transfer any such account to any other collection company while the account is in Agency's possession.

 

Agency shall use reasonable efforts to effect collection of accounts referred to it by Client. Unless otherwise instructed by Client, all collection efforts shall be conducted in Agency's name and Agency agrees that it shall comply with all provisions of applicable state statutes with regard to commercial debt.  Agency will abide by the code of ethics as set out in the IACC, Agency Section.

 

Debtors will make payments directly to Client and/or Agency.  Client understands and agrees that full commissions are due and payable to Agency.

 

Payment of any costs advanced or fees due to Agency for services rendered on behalf of the Client shall be due upon receipt of invoices.

 

Agency hereby agrees to indemnify Client and hold Client harmless from and against all damage, cost, loss and expense, including reasonable attorney's fees, directly resulting from Agency's performance under this contract; provided, however, that Client hereby warrants and guarantees that the information furnished to Agency regarding the identity of the debtor, any information about the debtor, the debtor's eligibility for repayment exemption, the balance of the account and the payments and credits due shall be accurate.  Agency shall have no obligation to indemnify or hold Client harmless from and against all damage, cost, loss and expense, including reasonable attorney's fees resulting from errors in such information to be furnished by Client to Agency.  The indemnities provided for herein shall survive the termination of this agreement.  Agency hereby expressly disclaims responsibility for any other damages whether special, incidental, or consequential.

 

Furthermore, Agency shall maintain and hold all information pertaining to Client's accounts, records, and any and all other information pertaining to Client in utmost confidence.  Under no circumstances shall Agency disclose any such information to any source or entity outside of the scope of Agency’s personnel for resolving accounts on behalf of Client.  Client shall also, hold and maintain Agency's information and records with likewise confidence and disclosure guidelines, as directed by applicable legal statutes and commercial code of ethics.

 

Either party may terminate this agreement at any time with 30 days prior written notice.

 

Upon termination of this agreement or upon Client's request, the unpaid balance of any account transferred to Agency hereunder will be promptly canceled and returned to Client.  However, as compensation for Agency's efforts and expenditures on behalf of Client, Agency shall be entitled to receive commission on debtor accounts as follows:

 

Agency shall be paid its normal commission on all collections received by either Client or Agency for a period of ninety (90) business days following the date of the recall of an account or termination of this agreement, unless otherwise specifically agreed in writing and authorized in writing by an executive of the Agency.

 

Agency shall retain possession of accounts on time payment plans in order to receive commissions on all payments made pursuant to such plans.

 

Agency shall retain possession of accounts, which have been referred to an attorney in order to receive its commission on any collections, which may be realized.

 

Each party shall maintain true and correct records pertaining to the accounts, which are subject to this agreement.  Each party, upon request shall have the right to audit sufficiently to verify the accounting of all funds and the accuracy and appropriateness of all changes.

 

Client hereby authorizes Agency to select an attorney to institute legal action on behalf of Client.  Agency and/or Attorney shall not institute legal proceedings on behalf of Client without the express written authorization of client.

 

Client agrees to pay all sales, use, or similar taxes applicable to the collection services rendered by the agency.

 

In consideration for the collection efforts of Agency, Client agrees to pay a contingency fee for payments received from all placement accounts, whether the payment is received by Agency or directly by Client, with the rate as agreed and confirmed through our 'Acknowledgment Letter'. Unless specifically listed otherwise in the Acknowledgment Letter, the contingency fee will be 33.3% from companies still in business, domestic, with an age less than one year from date of last sale by Client, and 50% fee for payments received from all second placement accounts, out of business accounts, international accounts and accounts with an age in excess of one year from date of last sale by Client. Client agrees to pay Agency full commissions on one-half the value of any merchandise returned.

 

 This agreement supersedes and replaces any and all prior agreements, understandings, or arrangements, whether written or verbal, and may be modified, amended, or terminated only in writing.