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<br /> I('-{if <br />7. J DIRECT PAYMENTS: CLIENT will notify AGENCY immediately of all <br /> direct payments. AGENCY will include commission owing on <br /> direct payments on collection statements. Wherever possible, <br /> CLIENT should transmit said payments to AGENCY in form <br /> received, together with any accompanying correspondence in <br /> order to avoid confusion. Once an account is assigned, AGENCY <br /> receives commission on all direct payments. <br />8. J CANCELLATION OF ACCOUNTS: AGENCY will not cancel any account <br /> held for collection less than one year from date of last <br /> collection activity, except under unusual circumstances, or <br /> when account is considered uncollectible. CLIENT must give a <br /> thirty (30) days written notice of cancel accounts within <br /> AGENCY system unless otherwise stated in this agreement. <br /> CLIENT has option to cancel any account if payment was made <br /> before placement to AGENCY. It is also understood that CLIENT <br /> agrees that all information obtained on said accounts through <br /> acceptable means shall become the sole property of AGENCY and <br /> its subsidiaries. <br />9. J COMPROMISE SETTLEMENTS: AGENCY shall not accept compromise <br /> settlements without prior approval of CLIEN~. AGENCY will <br /> accompany a proposal for compromise settlement with a review <br /> of the facts, and its recommendation. <br />10.] RECORD INSPECTION: AGENCY shall maintain for all accounts, <br /> ledger records which reflect the original balance, additional <br /> charges, collections, commissions, court costs and attorneys <br /> fees. CLIENT shall have the right to inspect such records. <br />11. J LEGAL ACTION: AGENCY shall not initiate any form of legal <br /> (e.g., attachment, garnishment, etc.) without prior written <br /> authority from CLIENT. When I legal action is authorized, <br /> CLIENT will execute a written assignment of the account. <br /> Legal action will be brought in AGENCIES name, where <br /> applicable, to better indemnify the CLIENT. <br />12. J COSTS OF LEGAL ACTION: CLIENT will advance all court costs and <br /> attorneys fees. ALL CLIENT approved legal accounts will be <br /> escalated to a 45% rate, regardless of prior rate. <br />13. J GLOSSARY OF TERMS: <br /> a.) Current Account: This is an account still being worked b <br /> Dynamic for collections. <br /> b.) Skip Account: This is an account which has fallen into an <br /> unable to locate debtor status, but still active. <br /> c.) Nearby: A nearby is a neighbor in close proximity to <br /> debtor, who are able to get a message to debtor. <br />