Terms of Trade

 

Central Collections Limited
P O Box 12742 Chartwell
Hamilton
Phone 0800 433 287
Fax 0800 433 900

THIS AGREEMENT IS MADE BETWEEN CENTRAL COLLECTIONS LIMITED AND A CENTRAL COLLECTIONS CLIENT HEREIN REFERRED TO AS CLIENT.

CENTRAL COLLECTIONS LIMITED GRANTS YOU THE RIGHT TO ESTABLISH AN ACCOUNT WITH THIS SITE ONLY UPON THE CONDITION THAT YOU ACCEPT ALL OF THE TERMS CONTAINED IN THIS AGREEMENT.

PLEASE READ THE TERMS OF SERVICE CAREFULLY.

BY SUBMITTING YOUR REGISTRATION YOU ARE INDICATING THAT YOU ACCEPT THE TERMS OF SERVICE. IF YOU DO NOT AGREE TO THESE TERMS, CENTRAL COLLECTIONS LTD IS UNWILLING TO GRANT YOU THE RIGHTS TO ESTABLISH AN ACCOUNT.

  1. Upon placement of a claim(s), where a debtor owes funds to CLIENT, Central Collections Ltd will use its best efforts to expeditiously collect the claim on behalf of CLIENT. Central Collections Ltd agrees to charge a commission only on funds actually paid by debtor to Central Collections Ltd or CLIENT and not the actual amount owed, subject to the provisions of paragraphs 4, 5, and 7 below.
  2. CLIENT warrants the validity, amount and authenticity of all claims and accounts placed with Central Collections Ltd for collection. Upon request by Central Collections Ltd, CLIENT agrees to forward documentation to Central Collections Ltd to prove the amount, the authenticity of the claim when requested.
  3. Central Collections Ltd shall notify CLIENT of any settlement offers received by Central Collections Ltd and no settlement offer shall be accepted by Central Collections Ltd without CLIENTS expressed consent.
  4. CLIENT may withdraw a claim placed with Central Collections Ltd only where a) there has been no activity on the account in the proceeding sixty (60) days and b) the claim is not in litigation or involved in an insolvency proceeding. All withdrawals must be done via fax to 0800 433 900 by CLIENT and any commission then due and payable to Central Collections Ltd must be paid before the claim is deemed withdrawn. Any claim cancelled by CLIENT while payments are being made by debtor will be billed by Central Collections Ltd for the full anticipated commission due Central Collections Ltd on the entire amount of the original claim assigned to Central Collections Ltd. There is a fee of 10% of the principal balance of the account for administrative, initiation and clerical expense on all accounts withdrawn by CLIENT.
  5. CLIENT shall report all direct payments made by debtor to CLIENT to Central Collections Ltd within three (3) business days of receipt of payment by CLIENT via fax to 0800 433 900, and the commission due to Central Collections Ltd on the direct payment shall be remitted to Central Collections Ltd within (21) days.
  6. CLIENT agrees that should payment not be made within twenty one (21) days Central Collections Ltd may charge you interest at the rate of 2% per month on the outstanding amount. Should CLIENT default in any payment to us we may at our discretion lodge a default with a credit bureau of our choosing. CLIENT also agrees to indemnify Central Collections Limited against any action taken by any third party in relation to the default. CLIENT will be liable for any and all cost related to the recovery of any outstanding account. A minimum default fee of $100.00 will apply to all overdue accounts.
  7. All claims placed with Central Collections Ltd by CLIENT, regardless of amount or previous collection efforts shall be billed by Central Collections Ltd to CLIENT at a rate of 20% + GST of any and all funds collected by Central Collections Ltd unless otherwise agreed. All new accounts attract an account opening fee of $30.00 + GST. All first demand letters attract a load fee of $7.00 +GST. All default loadings attract a fee of $7.00 +GST.
  8. Any merchandise returned, credits passed, or original balance adjustments made by client will be taken as payment by Central Collections Ltd and will be billed at a commission of 20% + GST.
  9. Any claim placed with Central Collections Ltd by CLIENT that is discovered to have been previously paid by debtor or placed by CLIENT in error will be billed by Central Collections Ltd at a rate of 10% of the claim as an administrative, clerical and initiation fee.
  10. Central Collections Ltd shall provide to CLIENT within the first 5 working days of the month all remittances and/or invoices and statements. Central Collections Ltd shall account to CLIENT by the 10th of the month, all funds collected by Central Collections Ltd on CLIENTS behalf, however Central Collections Ltd reserves the right to withhold these said funds at their discretion.
  11. CLIENT grants to Central Collections Ltd will at its sole discretion forward all undisputed debts to a nationwide credit reporting database after 14 days of lodgement.
  12. CLIENT understands that Central Collections Ltd may at their discretion forward a case or a claim to an outside law firm or collection network to assist in the recovery of said account and hereby grants Central Collections Ltd permission to do so. It is further understood that CLIENT must give Central Collections Ltd approval in the event that such a transfer will result in additional charges. You also authorise Central Collections Limited to act as your agent for filing and serving court documents drafted and signed by our appointed Solicitors who we may engaged to act on our behalf for court proceedings.
  13. In no event shall Central Collections Ltd be liable in any respect for the inability to collect any account placed with Central Collections Ltd by CLIENT for collection, including any files that have progressed to court proceedings. It is understood and agreed by CLIENT that whilst Central Collections Ltd undertakes to represent CLIENT to the best of their ability it is not a guarantee of any specific result on accounts placed and the consequence is undertaken by CLIENT.
  14. All Field Agent Fees are available on request. These fees vary according to the location and time involved in the execution of the visit to the address supplied.
  15. This agreement shall be construed in accordance with the laws of the New Zealand. In the event that any provision hereof is found to be invalid or unenforceable, then that provision shall deemed to be severed and removed and the remaining provisions shall remain valid and in full effect. The client agrees that should any account be transferred to the Disputes Tribunal after placement with CCL then CCL will be entitled to commission charged at a rate of 20% + GST upon settlement from the Judgment debtor, whether paid to CCL or the client.