Commission is payable on all accounts paid from and including the listing date whether paid to Collection Recovery Systems (hereinafter referred to as the Agency) or to the Client.
The Client shall not withdraw any account that the Agency has accepted for collection without first paying to the Agency an amount equal to the commission to which the Agency would have been entitled if the full amount of the account had been collected. If however, in the Agency’s opinion the Client has not recovered, and never will recover any value on the account, then…
a) Where the Agency has assisted the Client in reconciling the Client’s accounts receivable, the Client shall pay the Agency an amount equal to the commission to which the Agency would have been entitled on the amount adjusted.
b) Where the Client has received no value and has written off the amount as a bad debt, no commission is payable to the Agency.
The Client agrees to reimburse the Agency for court attendance/trial fees in all cases where a dispute is entered upon suit, and (in the opinion of the Agency) where process after judgment becomes necessary. Where a claim cannot be supported sufficiently to obtain a judgment, the Agency may charge a closing fee to compensate for the work and expense involved up to that point.
The Client must advance all court costs where applicable. Court costs are returned to the Client out of the first funds recovered and before any commissions are payable to the Agency. CLAIM PROCESSING FEES ARE NOT RECOVERABLE.
Where the Client accepts returned merchandise for credit to the account, the Client shall pay to the Agency half of the commission otherwise payable.
The Agency may deduct all amounts owed to it by the Client, including commissions, legal fees and disbursements, from any funds held for the Client for any reason whatsoever, whether or not related to the amounts owned, including funds collected on behalf of the Client and advances for legal fees from the Client.