Terms & Conditions of Use of the Credicol Online System
TERMS AND CONDITIONS (Please note that these terms and conditions can only be changed by agreement in writing)
When CrediCol Demand Letters are used, it is agreed that a copy of any letter sent by the client to their debtor, will be sent to CrediCol by either facsimile or email prior to the original being posted.
CrediCol will contact the client after the Demand Letter period of 7 days to seek instruction. In the event of non payment by the debtor CrediCol will suggest the next action. If payment has been made within this period, the matter will be closed without Commission.
Once instructed to continue with collection action after the 7 day Demand Letter period, no arrangements or negotiations should be made with the debtor without CrediCol first being notified. Dealing directly with the debtor, after an account has been placed for collection, may affect your legal rights of recovery.
CrediCol, once instructed to continue with collection action after the 7 day Demand Letter period, is authorised to take any action necessary to attempt collection of outstanding accounts submitted and is entitled to commission (which is subject to change with 60 days written notice) if the matter is withdrawn, held for more than one month, payment is made, a contra is made or if a credit is passed.
All incidental expenses such as solicitors fees, court fees, defended solicitors costs, service fees and other charges are payable to CrediCol when charged but refunded if and when recovered from the debtor by CrediCol. These charges are not fixed and changes occur. Current charges are available on request.
In the event that CrediCol is carrying solicitors costs on behalf of the client, CrediCol is entitled to charge those costs if the matter is held, the matter is withdrawn, a payment is made, the matter is defended or CrediCol is prevented from collecting the costs from the debtor by the client. The client will still be responsible for the court fees associated with the collection of solicitors costs should the debt be paid.
CrediCol will remit monthly the balance of trust monies after deducting all charges. Any debit statement rendered by CrediCol is payable STRICTLY 7 DAYS. Interest of 1.5% per month will be charged on all accounts outstanding 30 days or more from invoice/statement. Action will be held on any account where CrediCol’s account remains unpaid beyond 30 days of the invoice/statement date.
The client authorises CrediCol to select from its panel of solicitors to provide the legal services for the client should they be required.
All legal actions will be initiated from NSW courts unless further instructions are given by the client.
CrediCol shall be entitled to retain custody of any papers, documents and files until any account rendered is paid in full.
It is agreed by the client CrediCol Demand Letters are not to be copied or duplicated in any way, nor the wording changed. The unauthorised use the CrediCol logo, letters or name will be subject to a minimum fee of $200.00 per document produced plus any damages that may be caused.
The client is responsible for keeping CrediCol informed of any changes to its registered details. All changes should be advised in writing to PO Box 20410, World Square NSW 2002 or email pay@CrediCol.com.
Commission FREE for 7 Days from Demand Letter being sent.
Agreed Commission rate on Recovered Debts Over $300 is 9% + GST
Agreed
Commission rate on Recovered Debts Under $300 is 9% + GST