Terms & Conditions

Interpretation

These terms and conditions apply to the collection of outstanding debts by Asset Services Ltd for client.

“Client” means any individual, Company Partnership or Trader using the service provided by Asset Services Ltd.

Use of Information and Confidentiality

All information given by the client to Asset Services Ltd will be treated as private and confidential and will be subject to the regulations as outlined under the Data Protection Act

All information provided by Asset Services Ltd under these terms and conditions will be treated in confidence by the client and shall not be copied or otherwise divulged to any person or party whatsoever; the only exception being than by County Court Order.

Liability

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 Asset Services Ltd will be unable to verify in every case. Asset Services accept no liability for any errors.

Asset Services Ltd will not be liable for any loss or damage whatsoever as a result of the Client’s use of any information supplied by Asset Services Ltd.

Indemnity

Asset Services Ltd shall be indemnified by the Client for any actions taken by itself, the debtor or it’s agents, if such actions prejudice Asset Service Ltd’s ability to collect. If such prejudice action occurs, Asset Services Ltd reserves the right to charge such commission that would be due as if the debt had been collected in full.

Debt Collection

Asset Services Ltd are authorised by and on behalf of the Client to collect payments and issue receipts in relation to the Client’s debtor and to deduct and retain fees owing to Asset Services Ltd for services rendered. Payment of the Client’s debtor. Payment of the recovered balance (less the retained fee) will be issued to the client 10 days after being banked, allowing ample time for the payment to clear.

Accounts settled any monies received via any source after intervention from Asset Services Ltd are subject to commission fees at the prevailing rate. These fees must be settled within 10 days from the date of the payment receipt.

Once a case is passed to Asset Services Ltd and a part payment results in a balance outstanding, the case will remain with Asset Services Ltd until the full debt is cleared. Withdrawal of an account before Asset Services Ltd recommends closure, is subject to a commission charge equal to that of full collection, unless an alternative rate is agreed between Asset Services Ltd and Client before final collection.

The client must recognise that Asset Services Ltd do not express or imply that they can guarantee collection of debt.

The client must notify Asset Services Ltd immediately if there is a change to the amount due of any debt passed to Asset Services Ltd for collection.

If Asset Services Ltd recommend a case for litigation, no action will commence without the Client’s approval, and only after all legal tariffs have been discussed and agreed by Asset Services Ltd and the Client. It is the Client’s responsibility to notify Asset Services Ltd if payment is received directly form the debtor after legal action has been instigated. Failure to do so may make it difficult to recover advance court costs of which the client would be liable to pay.

The Client will be notified in advance of any additional costs as a result of legal action, or fees that the Client is likely to incur if Asset Services Ltd carries out action as instructed.

Asset Services Ltd cannot stipulate any time constraints on actions taken and this will not form part of any contract.

Where agreed in advance, Asset Services Ltd will accept settlement of a debt in instalments. The pre-agreed fee will be taken as a percentage of each payment.

Law of Contract

This contract shall be governed, constructed 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.