| Below is a legal binding agreement for Collection Service.
If you would like to contact FDR before signing this agreement
(Click Here). To sign into an
agreement for collections services with FDR, simply
fill out the boxes in the form with your information and hit the
"Submit Agreement" button at the bottom and FDR will
receive the binding agreement within a few moments. |
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Agreement for Collection Service
All fields are required! |
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| FINANCIAL DEBT RECOVERY, INC. Herein referred to as
“COLLECTOR” and
(input
your company name), as CLIENT”, and that the
accounts placed with the COLLECTOR are subject to the terms and
conditions of the following agreement between parties: |
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| 1. Collection activities shall be in compliance with
Federal, State and local laws or regulations, and be courteous
and businesslike, consistent with the image and reputation of
CLIENT. |
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| 2. Collections made by COLLECTOR of CLIENT’s accounts will
be deposited immediately in a separate trust account maintained
in a bank for CLIENT, as well as other clients. (Checks made out
to client will be mailed to them directly.) |
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| 3. All collections made by COLLECTOR of CLIENT’s accounts
will be remitted to CLIENT less COLLECTOR commission fee. CLIENT
agrees to provide COLLECTOR with information on all direct
payments received by CLIENT from accounts placed for collection
with COLLECTOR. |
| COLLECTOR will prepare a monthly statement
containing account names, numbers, dates of payments received by
COLLECTOR or CLIENT, gross amounts of collections, and
collection fees due COLLECTOR are due and payable upon receipt
of the statement by CLIENT. COLLECTOR has the right to offset
any such fees due, but un-remitted to COLLECTOR or sister
companies, against collections made on CLIENT’s accounts.
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| 4. Collections made by COLLECTOR, and remitted to CLIENT by
COLLECTOR, on which a check is returned by the bank unpaid,
shall be reported on the remittance advice as a minus payment
and collection fee. |
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| CLIENT will notify COLLECTOR when a check is returned by the
bank unpaid on a payment made direct to CLIENT has paid
COLLECTOR the collection fee due. COLLECTOR will list such
returned checks on the next statement for direct payments to
CLIENT as a minus payment and minus collection fee. |
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| 5. To help offset COLLECTOR’s costs of investigation and
search, CLIENT authorizes COLLECTOR to add 10% and retain 100%
of the interest at the rate allowable by law to accounts placed
for collection. |
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| 6. The collection fee on payments made to COLLECTOR and
direct to CLIENT on accounts placed with COLLECTOR for
collection shall be at 35% on all Accounts.( CLIENT subject to
same rate above if COLLECTOR obtains proof of payment after account(s) has been assigned.) |
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| 7. COLLECTOR will not institute civil legal collection on
any CLIENT account(s) without requesting and receiving CLIENT’s
express written authorization to do so. Costs incurred by
COLLECTOR in instituting legal action may be recovered by
COLLECTOR prior to remitting to CLIENT the proceeds of
collection made on the account as a result of such legal action,
if such costs have been added to the balance originally due by
decision of the court. |
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| 8. CLIENT will hold COLLECTOR harmless of any wrong doing
which has arise by CLIENT’s own behalf furthermore, CLIENT will
be held responsible for any legal matter that arise from the
accounts assigned by CLIENT’s facility at the time his practice
was established. |
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| 9. Accounts placed by CLIENT with COLLECTOR for collection
may be withdrawn by CLIENT through reasonable written request.
Upon receipt of such request, COLLECTOR shall cancel all
eligible account(s). COLLECTOR shall retain paying accounts that
would have pending payments within One (1) year. Providing the
patient does not break there promise. |
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| 10. As further consideration for the receipt and handling
and collection of accounts by COLLECTOR, the party agrees that
each party will assume its own proper responsibility in
connection with any claims made by a third party against CLIENT
and or COLLECTOR. If the acts of the agents, servants and
employees of COLLECTOR are the proximate cause of any action
brought against CLIENT, the COLLECTOR will assume full
responsibility for the defense of said action and payment of any
resulting judgment. |
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| 11. This agreement shall be effective as of the date shown
for (90) days and continue in effect until terminated as
hereinafter provided. Either party may terminate this agreement
by giving the other party at least 60 days prior written notice
of the date of termination (refer to Paragraph #9 for
cancellation procedures). However, termination or cancellation
of this agreement by either party shall not effect the
collection, enforcement or validity of any accrued obligations
owing between parties.(There will be a $15.00 charge for every
account client ask us to delete off there patient(s) credit
report.) |
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| 12. Any notice given pursuant to the proceeding paragraph
shall be deemed to have been received by the other party at the
address shown below. Except as otherwise provided by law,
neither this agreement nor any rights granted, or payments due
or to become due, hereunder, shall at any time be assigned ,
sold or pledged by the COLLECTOR. It is further understood that
COLLECTOR is, and will be acting and occupying the status of an
independent contractor and not the status of an agent or
employee of CLIENT. |
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| The provisions of this agreement shall override any and all
contrary or conflicting provisions contained in the past or
present agreement. |
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| 1. This agreement is entered into by and between COLLECTOR
and CLIENT, this day:
, by their duly authorized and empowered
representatives. |
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