Terms & Conditions For Debt Collection

Here and after CBC International will be known as the agency, while the instructing entity utilising the service will be known as the client
This is a binding contract between the agency and the client, and the Terms and Conditions are to be complied with in all stages of collection
Whilst every effort is made by the agency to recover outstanding monies within reason and cost effectively, no guarantee is either expressed or implied that such money will be recovered.The agency shall be indemnified by the client for any actions taken by itself, the debtor or its agents after contracting the agency to act on its behalf. If such actions prejudice the agency’s ability to collect by interfering with the collection process, the agency reserves the right to charge such commissions that would be due as if the debt had been collected in full
The client must not make any communication with the debtor(s) after the debt(s) is passed on to CBC International. If the debtor(s) attempt to contact the client, the client must immediately revert the debtor(s) directly to CBC International. If this term is broken, this is liable to prejudice the agency’s ability to collect, and commission will be due to CBC International as if the debt was collected in its entirety.
Once the agency has been instructed, all monies collected are subject to commission at the rate relating thereto, whether the monies come in directly to the client or are paid to the agency, unless the agency has terminated the instruction or advised the client that it cannot recover the debt.
Commission will only be taken by the agency as a percentage of the collected amount only and not as a percentage of the total debt submitted. If instalment payments are made, each payment will be charged at the commission rate band applicable to the size of the payment.
The minimum charge on any monies collected is £30. For example, if the debt recovered is £100 and the commission rate is 15%, the commission to be paid to the agency will be £30 as opposed to £15.
The agency is authorised to collect monies on behalf of its clients. Payment if collected in full as per the client’s instructions, or as a full and final payment, as per the client’s authorisation, will be remitted to the client at the end of the month providing the funds have cleared and the agent reserves the right to deduct its outstanding invoice payments. Payments may be made upon receipt to the client upon request and at the discretion of the agency.
Once the agency has been authorised to act on the client’s behalf, if the debt is withdrawn by the client for whatever reason prior to the agency recommending or agreeing to termination of action, or where due to lack of requested information from the client, the account has to be returned to the client, this is subject to charge at the stated commission rates.
Any additional service(s) requested by the client to any division or associate of the agency is chargeable to the client at the agreed rates.
Foreign rates apply to Eire.
Where goods and services are subsequently returned to the client and/or the balance is written off by way of a credit, the agency reserves the right to charge that commission which would normally be levied as if this had been a full successful collection.
All invoices are rendered are due for settlement upon receipt. Accounts unsettled within 14 days may be subject to a late payment charge of £40.00 under late payment legislation at the agency’s discretion.
Where debts are collected in instalments of under £50.00 per month and constant monitoring and reminders are required to retrieve payments, these will be subject to an additional 5% commission charge.
The client must inform the agency of any payment received direct or information regarding the debt immediately so that the agency does not pursue the debtor unnecessarily. If the agency does pursue a debt unnecessarily, the client may incur additional fees at an hourly rate of £50 at the discretion of the agency.