2.
Client agrees to reimburse Agency for any fees or
charges that may be incurred by Agency as a result
of accepting credit card payments on Client’s
behalf, and agrees to allow agency to deduct these
fees from Client’s remittances.
3.
Client agrees to notify Agency of all debtor payments
made directly to Client within 2 business days from
receipt of payment.
4.
Client agrees that Agency’s contingent fees
apply to all payments received on Client’s behalf
including principle balance, interest charges, NSF
or bank charges, and collection or attorney fees.
Client further agrees to pay Agency commission on
any debtor payment received by Client’s office
or agents when these payments are received on or after
the date that said claim is assigned to Agency by
Client.
5.
Client agrees to pay Agency a cancellation fee equal
to 10% of the balance of any claim when said claim
has been assigned to Agency for collections and is
subsequently found to have been paid prior to the
date of agency assignment, to have an unapplied credit
memo which reduces or eliminates the balance, or if
the claim was listed with Agency in error or for any
other reason.
6.
Client agrees to Pay agency a commission equal to
one-half he assigned contingency rate if any portion
of a debtor’s balance is resolved or credited
due to return of merchandise.
7.
Client agrees that Agency’s acceptance of contingent collection claims, to the extent of the assigned contingent collection fee, represents a financial interest in said claim. Therefore Client agrees to allow Agency adequate time to exhaust its collection efforts prior to claim recall, with adequate time being defined as a minimum of 60 days from either; 1) the date of original assignment, or 2) that date of last payment received by the debtor. Client agrees that agency reserves the right to remit collected funds at it’s own discretion. Client agrees that payments can be remitted by agency to client in full or in payments. Agency will pay client less agency overhead, this could be but not limited to Private Investigation, Legal Fees, Collector Activity.
Diversified Recovery Systems Inc reserves the right to forward any consumer / retail accounts to one of it’s collection agency partners.
Arbitration. Any controversy, claim or dispute arising out of or relating to these terms and conditions Agreement, shall be settled solely and exclusively by binding arbitration in St Tammany, Louisiana. Such arbitration shall be conducted in accordance with the then prevailing commercial arbitration rules of a ST Tammany Louisiana arbitrator, with the following exceptions if in conflict: (a) one arbitrator shall be chosen by a St Tammany Louisiana arbitrator; (b) each party to the arbitration will pay its pro rata share of the expenses and fees of the arbitrator, together with other expenses of the arbitration incurred or approved by the arbitrator; and (c) arbitration may proceed in the absence of any party if written notice (pursuant to the St Tammany Louisiana arbitrator rules and regulations) of the proceedings has been given to such party. Each party shall bear its own attorneys fees and expenses. The parties agree to abide by all decisions and awards rendered in such proceedings. Such decisions and awards rendered by the arbitrator shall be final and conclusive. All such controversies, claims or disputes shall be settled in this manner in lieu of any action at law or equity; provided however, that nothing in this subsection shall be construed as precluding the bringing an action for injunctive relief or other equitable relief. The arbitrator shall not have the right to award punitive damages or speculative damages to either party and shall not have the power to amend this Agreement. The arbitrator shall be required to follow applicable law. IF FOR ANY REASON THIS ARBITRATION CLAUSE BECOMES NOT APPLICABLE, THEN EACH PARTY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER MATTER INVOLVING THE PARTIES HERETO.
GOVERNING LAW, JURISDICTION, AND VENUE
These Terms and Conditions shall be governed by, and construed in accordance with, the laws of the State of Louisiana. The Client agrees and consents to the exclusive jurisdiction of the courts of the State of Louisiana for all purposes regarding these Terms and Conditions and further agrees and consents that venue of any action brought hereunder shall be exclusively in the Parish St. Tammany Louisiana.
You are hereby bound by the terms and conditions of your placements and any other placements there after.
