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1.
These Terms and Conditions
a)
These Terms and Conditions apply to the services
performed by, or at the direction of Credit UK,
its associates, members of staff and agents in
relation to the recovery or attempted recovery
of debts or other action or matter arising there
from, on behalf of the client, as further
described under Clause 3.
b)
Brochure Details are for information purposes
only and no liability is accepted by credituk
for its contents.
2.
The Services
a)
The services shall be provided by Credit UK
through its own resource and it shall determine
the most appropriate method and steps to be
taken for provision of the services, including
(without limitation) the giving of instructions
on behalf of the client to agents (solicitor,
bailiff, sheriffs or other persons instructed by
Credit UK to act on behalf of the client in
respect of service).
3.
Obligations of Credit UK
a)
Credit UK shall ensure that the services are
performed in an ethical and professional manner,
in compliance with the law. Credit UK shall
ensure that its employees act in accordance with
its internal code of conduct.
b)
Credit UK shall treat all information concerning
the client, its business and financial affairs
in complete confidence.
C)
Credit UK shall report to the client on a net
monthly basis in respect of monies received, if
not upon receipt.
4.
Obligations of the Client
a)
The client to provide Credit UK with all
documents and information relating in any way to
the debt. The client further undertakes to
notify Credit UK promptly of any material change
to the documents and information provided,
including any new information of any kind,
affecting directly or indirectly recovery of the
debt.
b)
The client shall notify Credit UK of any payment
made to the client or towards the satisfaction
of the debt.
C)
All information provided by Credit UK to the
client shall be held by the client in the
strictest of confidence and shall not be
disclosed to, nor relied upon, by any other
person, firm or company without the consent of
Credit UK.
d)
The client undertakes to cooperate at all times
with Credit UK and the agents.
e)
The client shall not instruct any other person,
firm or company in respect of the debt or the
service without first terminating the agreement
or prior approval of Credit UK.
f)
The client shall provide all information and
comply with the obligations specified under
clause 5 (a), (b) and (d) without delay. Any
delay affecting the performance of the services
provided shall entitle Credit UK to terminate
the services immediately.
5.
Solicitors
a)
Credit UK shall have absolute discretion in the
choice of Solicitor and its choice shall be
final and binding. Credit UK shall inform the
client of the name and address of the Solicitor
that is to be instructed.
b)
All monies recovered by a Solicitor in pursuance
of the service shall be paid direct to Credit UK
and held in a client account.
6.
Fees and Expenses
a)
The fees shall be paid by the client in
accordance with the relevant standard Credit UK
scale of fees in force at the time the debt was
placed.
b)
In the event that, once a debt has been placed
and actively worked on, the client enters into
any settlement or compromise with the debtor,
which if has the effect of reducing the fee
payable, the client shall pay the additional
fee.
c)
The fee shall be paid by the client, if payment
is or terms of settlement are agreed after 24
hours, after date of dispatch of first letter by
Credit UK. This time delay allows for receipt of
monies already in transit to the client by post
or BACS. In the event request is made by the
client for immediate action, Credit UK will fax
a final demand immediately and if as a result
payment is made within 24 hours then the fee is
payable by the client.
d)
Court Fees and expenses payable to agents shall
be payable by the client in addition to the fees
and shall be paid irrespective of the extent of
any recovery achieved by Credit UK hereunder (if
any). Unbilled
or outstanding fees and expenses of agents shall
become immediately due and payable in the event
of the termination of the service for any
reason.
e)
The client shall obtain the prior written
consent of Credit UK before agreeing to any
settlement or compromise with the debtor.
Failure to do so will render the client liable
to Credit UK for all and any legal costs and
other disbursements incurred during, or arising
out of, the provision of the service.
f)
Payment of invoices is due 30 days from date of
the invoice, if the customer fails to pay any
invoice by the due date interest will be charged
at the discretion of the company in accordance
with the Late Payment Of Commercial Debts
(interest) Act 1998, 8% per annum above the base
rate of the Bank of England, and the client will
be liable to reimburse to the company all costs
and expenses, including legal costs incurred in
collection of any of the overdue amount.
7.
Recovery Payments
a)
Any monies received by Credit UK in performance
of the service and any fees, will be paid into a
Credit UK client collections account, or part
thereof, together with other fees and expenses
of any agent shall be discharged out of monies
held in that account.
For security where possible Credit UK
will request payments be made directly to the
client.
b)
Upon receipt of monies recovered by the agents,
Credit UK will account to the client on a net
monthly basis in respect of the monies received,
if not before. Under clause 7 (a), in excess of
fees and charges due and payable. No interest is
payable on monies held in the Credit UK client
collections account.
8.
Termination of Services
a)
The client may give written notice to Credit UK
at any time to terminate the services. The client shall be responsible for all fees, expenses and
costs incurred and accruing as a result of the
termination and shall forthwith pay those fees,
expenses and costs to Credit UK and any
solicitor, as appropriate.
b)
Credit UK reserves the right to terminate the
service at its discretion at any time and
without specifying any reason. Credit UK will
usually endeavor to notify the client of the
reason.
9.
Limitation of Liability
a)
Any defect in the services or any breach by
Credit UK of these terms, shall be limited to a
maximum amount of £10,000 in respect of any one
or more incidents whether related or otherwise
during the contract period.
b)
Neither Credit UK, its staff or agents represent
that any information or advice given is accurate
or that any statement made by Credit UK, its
staff or agents amounts to an undertaking, term,
condition, representation or warranty capable of
incorporation in to the Terms and Conditions or
any collateral agreement hereto.
10.
Insolvency
a)
Credit UK may at any time at its absolute
discretion, terminate the provision of the
services if the client has petitioned for,
commits an act of, or is adjudged to be bankrupt
or insolvent in any jurisdiction.
b)
Credit UK may, at any time and at its absolute
discretion, terminate the provision of the
services if the client is the subject of any
receiving or administration order, or if the
client enters into any composition agreement
with its clients.
c)
In the event of Credit UK exercising its
absolute discretion under clauses 10(a) and (b),
such action shall not prejudice any rights and
remedies otherwise available to it.
11.
Notice
a)
Either Credit UK or the client may serve notice
upon the other by facsimile transmission or
ordinary pre-paid first class post at the
registered office or normal place of business of
the other party. Facsimile transmissions are
deemed to have been received at the time of
transmission. Post is deemed to have been
received the next working day after the day of
posting.
12.
Jurisdiction
a)
These Terms and Conditions shall be subject to,
construed and interpreted in accordance with the
laws of England and Wales and, unless otherwise
agreed, the High Court shall be the court of
competent jurisdiction.
b)
Where the debt is collectable within the
European Union, Credit UK may, at its absolute
discretion, nominate another jurisdiction as
provided under the Brussels Convention.
c)
Where the debt is collectable outside the
European Union, Credit UK may, at its absolute
discretion, nominate the courts of the competent
jurisdiction.
13.
Brochure
b)
Any brochure in circulation is for information
purposes only and no liability is accepted by
credituk for its contents.
14.
Declaration
a)
By instructing Credit UK you agree to be bound
by the above Terms and Conditions of Business
for the provision of service.
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