AIS GROUP – COLLECTIONS - TERMS AND CONDITIONS
This terms and conditions document will only need to be submitted one time and will apply to all accounts listed with our firm. AIS Group is a
Licensed and Bonded Agency Originally Established in 2004.
AIS Group to be referred to hereinafter as: “AGENCY or FIRM”
YOUR COMPANY to be referred to hereinafter as: “CLIENT”
Your debtor customer to be referred to hereinafter as: “DEBTOR”
This terms and conditions document will not contain any rate agreement. The reason; from time to time we will offer lower or alternative rates for clients – a specific account may have a different negotiated rate due to age or specific situations – in the event there is a rate variation on any given account, it will be confirmed via email between you and your sales representative so you have a paper-trail of the rate, this email correspondence will be the agreed rate for any specific account.
The Terms:
1. Payments: a payment on an account placed with agency can be made by the debtor directly to agency, directly to client – it does not matter to us, the goal is to get you paid. In the event the debtor feels more comfortable mailing a check to you, you MUST report it as soon as it is discovered, we will bill you our portion at some time after the money is received and cleared your bank.
a. Reporting: It is crucial to report payments, we are acting as your legal representative and the demands and accounting must be accurate, agency will not be held liable for pursuing your debtor for the wrong balances.
b. Invoices: CLIENT agrees to remit AGENCY collections fees within 30 days of invoice date or date of receipt whichever is sooner.
2. Remittance: Agency will remit collected funds typically within 10 business days or less; Typically, means reasonable accounting time for process, for example, in the event there are two payments to remit to you within a couple of days from each other, we may hold the first payment for that period to include both in one check for a consolidated remittance. We will communicate this with you and can make exceptions if needed upon your needs.
3. Credit Card Payments: Client agrees that if a credit card is charged back by your debtor after agency remits funds to you, the client guarantees the payment to be returned to agency within 24 hours of notification. This would be no different that being paid directly by your client and the
card being declined or charged back.
4. Trust Accounts: Agency maintains trust accounts enabling agency to accept and deposit payments on your behalf, we bond your deposit(s) for up to $50,000.00. This bond ensures your funds are safe while in our possession.
5. No Contact: Client agrees and understands the laws and the importance of ceasing communication with your debtor once a claim is referred to AGENCY or FIRM. You MUST wash your hands of this claim – continued communication could cause you to violate your customer/debtors’ rights, FDCPA Laws and could result in harsh penalties or a lawsuit against you. AGENCY is your liaison between the debtors. We will relay all
information, questions, documents, offers of settlement, and any point that is important for you the CLIENT or the DEBTOR.
6. Cancellation: Any and all cancellations should be communicated with your sales representative for evaluation as we seldom ever experience cancellation charges.
a. There is no charge, regardless of time and expenses spent by AGENCY, to cancel any account whereas both parties (AGENCY AND CLIENT) agree that a claim is uncollectable and pursuit of such should cease.
b. There is a 10% of balance cancellation charge for any debtor account that for the following examples are requested by the client to be canceled (all claims are subject to review and at AGENCY’S discretion to amend generally based on time and money spent to work the account). Client remorse for placing a debtor/client, client wishes to forgive the debt and salvage a relationship, an unknown dispute arises that could result in a counter suit or problem.
c. A full agreed rate will be paid to AGENCY in the event DEBTOR conveys a desire to resolve, however CLIENT attempts to collect payment direct from DEBTOR and circumvents fees due to AGENCY.
7. AGENCY reserves the right to lower collections fees, waive collections fees to CLIENT and/or to waive or extend discounts to debtors regarding collections fees if Agency feels it will slow, cease or negatively affect the collection of clients’ money.
8. Settlements: AGENCY will ALWAYS bring discussions of any settlements to client unless blanket authorizations have been conveyed outside of this agreement – CLIENT reserves the right to make all financial decisions on their accounts and to give agency direction to convey and resolve accounts accordingly.
9. Hold Harmless: AGENCY offers hold harmless to client for AGENCY actions – as long as any adverse action were not a result of bad information or actions by CLIENT.
10. Venue: in the event a dispute arises between CLIENT and AGENCY, the venue of resolve will be Louisiana, County/Parish of St. Tammany.
11. Lawsuits: AGENCY will not engage in lawsuits against DEBTOR without explicit written consent with CLIENT. In the event you wish for us to sue a claim, there will be an independent legal agreement that we will walk you through and take care of the entire legal process.
