Terms & Conditions
Contract
The purpose of this contract is to entitle you to become a Client of IDSC Ltd from the date commercial debts are passed to us, this contract is bound by English Law should IDCS Ltd agree to act on your behalf as a third party debt collection agency. It is not for one specific matter (even if you have a specific matter in mind when you enter into this agreement). It does not amount to guarantee we will successfully recover any particular debt.
Interpretation
i. These terms and conditions apply to the collection of outstanding debts by IDCS Ltd for the client.
ii. In these terms and conditions, IDCS LTD means International Debt Collection Services Limited.
iii."Client" means any individual, Company, Partnership or Trader using the service provided by IDCS LTD.
Use of information and Confidentiality
i. All information given by the Client to IDCS LTD will be treated as strictly private and confidential and will be subject to the regulations as outlined under the Data Protection Act.
ii.All information provided by IDCS LTD under these terms and conditions shall be treated in confidence by the client and shall not, other than by County Court Order, be communicated, copied or otherwise divulged to any person or party whatsoever.
Liability
i. Reports or information provided to the Clients may, in whole or part, represent expressions of advice or opinion based on data supplied by third parties, the accuracy of which IDCS LTD will be unable to verify in every case. IDCS LTD will accept no liability for any errors therein or omissions there from.
ii.IDCS LTD will not be liable for any loss or damage whatsoever as a result of the Client's use of any report or information supplied by IDCS LTD.
Debt Collection
i. IDCS LTD are authorised by and on behalf of the Client to collect payments and issue receipts in relation to the Clients debtor and to deduct and retain fees owed by the debtor to IDCS LTD for services rendered.
ii. Payment of the recovered balance (less any retained fee) will be issued to the Client 30 days after being banked thus allowing time for the payment to clear.
iii. Signed authorisation by the debtor or IDCS LTD will enable the debtor to pay both the original debt and IDCS LTD collection fees owed directly to the Client.
iv. In this instance an invoice will be issued by IDCS LTD to the Client for the agreed fee. Payment shall be made to IDCS LTD within 14 days of the invoice date.
v. The client must inform IDCS LTD within 48 hours on receipt of any funds from the debtor.
vi. Accounts settled and any monies received via any source after intervention by IDCS LTD are subject to commission fees at the prevailing rate. These fees must be settled within 14 days from the date of payment receipt.
vii. Once a case is passed to IDCS LTD and a part payment results in a balance outstanding, the case will remain with IDCS LTD until the full amount is cleared.
viii. Withdrawal of an account before IDCS LTD recommends closure is subject to a commission charge equal to that of a full collection, unless an alternative rate is agreed with IDCS LTD before final action.
ix. The client must recognise that whilst every effort is made by IDCS LTD to recover the outstanding balance, no guarantee is either expressed or implied that such money will be recovered.
x. The client must notify IDCS LTD immediately if there is any change in the amount due in respect of any account passed to IDCS LTD for collection.
Litigation
i. If a case is recommended by IDCS LTD for litigation, no action will take place without the Clients approval, and only after all legal tariffs have been discussed and agreed upon by both IDCS LTD and the Client.
ii. It is the Clients responsibility to advise IDCS LTD where any payment is received directly from the debtor after legal action has been instigated. Failure to do so may make it difficult for the solicitor to recover any advance court costs that may have been made.
iii. IDCS LTD will not accept liability for any unnecessary costs, which might result.
Additional Charges
i. It is accepted that the Client will be notified, in advance, of any additional costs resulting from legal action or fees the Client is likely to incur whilst IDCS LTD carries out the Clients instructions.
Contractual Stipulations
i. The time IDCS LTD takes to perform any obligation under this contract shall not be the essence of the contract.
ii. Where agreed in advance, IDCS LTD will accept settlement of the debt by instalments. The agreed upon fee will be taken from each instalment collected (i.e. 10% of each part payment).
Fees
i. IDCS LTD shall agree with the client prior to any action taking place a 20% commission fee for full or part recovery of the debt. The commission fee will be levied on the net amount recovered ie: less VAT and court costs, but will include any interest charged by the client.
ii. Should the Client decide, after requests to the debtor have been made by IDCS LTD for payment and none has been received, not to pursue the matter through the county court, despite IDCS LTD advising that County Court Action is likely to be successful, IDCS LTD will charge a minimum fee currently £150.00. If both IDCS LTD and the Client agree that further action, including a County Court Claim, would likely be unsuccessful then no minimum fee will be payable. After court action has been taken if no amount is recovered then the client will not be liable for any remuneration to IDCS LTD other than incurred costs.
iii. The client is responsible for all court fees and legal fees incurred in the recovery of the debt. However these fees will be detailed by IDCS LTD to the client prior to any fees being incurred.
iv. Should a Charging Order or Attachment of Earnings be successfully placed over the debtors property, the agreed fee payable to IDCS LTD shall be remitted immediately.
v. When a contract has been agreed upon, the fixed fee is solely to employ IDCS LTD to collect and advise on the debt only. Where other services are needed or required by the client, these will be charged at our standard rates as detailed in our rate guide. Other charges include skip tracing and Bailiffs.
Law of Contract
This contract shall be governed, construed and enforced in accordance with English Law, which shall be the proper law of this agreement.
Both parties hereby submit to the non-exclusive jurisdiction of the English Courts.