HomeMy WebLinkAboutCOLLECTION SERVICES AGREEMENTCOLLECTION 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:
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.
RMI will observe debtors’ rights at all times.
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.
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.
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 RMI’s performance under this contract, and RMI 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.
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.
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 RMI through the termination date within 15 days after said date.
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
transmit the Clients portion of monies collected by the 15th of the following month.
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.
The scope of services and related fees are 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 Receivables Management, Inc.
By: ___________________________ By: __________________________
Jeff Wood
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 321-868-1234
Fax 321-868-1248
Email a.bowers@cityofcapecanaveral.org