HomeMy WebLinkAboutReceivables Managment, Inc. Collection Services Agreement • 2010-05-24 10:10 tnt 1950 » _--3218681248 P 2/3
COLLECTION SERVICES AGREEMENT
Receivables Management, Inc
This Agreement made on the 24th day of May,2010 by and between Receivables
Management Incorporated(RMI), and the City of Cape Canaveral, hereinafter called the
Client.
It is mutually agreed,understood, and promised as follows:
1) RMI will use its best efforts and any lawful means which in its judgment and
discretion believes will effect repayment on accounts referred to it by the Client.
RMI shall endeavor to elicit payment in such a way as to maintain goodwill and
in no way jeopardize future relationship between the Client and its customers.
2) RMI will observe debtors' rights at all times,
3) RMI will maintain company records as they pertain to said accounts,in such a
manner as to be auditable by the Client during normal business hours.
4) RMI will only transfer accounts for litigation after mutual agreement between
RMI and Client. All court filing/serving costs associated with the litigation will
be borne by the Client and refunded upon collection.
5) The Client, its' agents and employees shall not be liable for any loss,damage,
injuries, or other casualty of whatsoever kind,to the person or property of
anyone(including RMI) arising out of or resulting from R1%fl's performance
under this contract,and RMX for itself,heirs,executors,employees, agrees to
indemnify and hold Client harmless from and against all such claims,demands,
liabilities,suits or actions(including all reasonable expenses and attorney's fees
incurred by or imposed upon Client in connection therewith)for such loss,
damage, or other casualty unless such loss, damage,injury,or other casualty is
caused by the conduct or negligence of Client.
6) RMI agrees that any information provided by client on the debtor will be used
solely for the purpose of securing payment on the account placed by the Client.
This information will be held in the strictest confidence and used for no other
purpose.
7) This agreement may be terminated at the option of either party by written notice
given at Sixty(60) days prior to the date of termination. The Client agrees to
remit all commissions earned by RMX through the termination date within 15
days after said date.
8) Client agrees to report all payments to accounts assigned to RMI upon receipt.
RMI will report all payments in an Activity Statement on a monthly basis and
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transmit the Clients portion of monies collected by the 15th of the following
month.
9) The Client agrees to authorize RMI to reach negotiated settlements on any debt
at the level specified below. The Client further agrees not to make any settlement
or otherwise take any action in derogation of RMI's exclusive right to collect the
listed debt. In the event of such RMI shall be entitled to its full commission.
10)The scope of services and related fees arc as follows:
-Collection Commission Rate of 25%of monies collected.
-Collection Commission Rate when assigned for litigation of 50%of
monies collected,less Client filing fees,with a minimum debt of
$2,000.00. RMI will consult with Client prior to pursuing litigation.
-Settlement level of 100%of debt amount without contacting Client
IN WITNESS THEREOF,the parties have executed this contract in duplicate on the date
above written.
Client Receivabl Management,Inc.
By: By. G'_/'9
ood
Title: Acting City Manager , City of Cape Canaveral
Contact: Andrea Bowers, City Treasurer
Address: P.O.Box 326
City, ST Zip: Cape Canaveral, Florida 32920
Phone 321-S68-1234
Fax 321-868-1248
Email a.bowers@cityofcapecanaveral.org