In the Debt Instruction Agreement, “The Company”, “We” “Us” and “Our” refers to Chaser Technologies Limited whose registered address is 117 Strathville Road, London, England, SW18 4QW; “The Client”, “You” and “Your” means the client of Chaser Technologies Limited whose name and details are set out in the Debt Instruction Agreement; “Debt” means any debt referred by you to us and accepted in line with this Debt Instruction Agreement; “Documentation” means all information needed to prove the existence and validity of a Debt; “Services” means the collection of Debts from third parties and any other possible service ancillary linked with this function; “Commission” means our charges, exclusive of VAT, for the Services provided; “Confidential Information” means all information acquired by one party from the other marked confidential, that is manifestly confidential or whose confidentiality is informed by one to the other; Transfer Charge” means a Charge imposed by us as if the Debt had been collected at face value if you transfer, sell or encumber a Debt before it is collected or Rejected; and “Withdrawn” means any Debt you explicitly withdraw from the agreed Services; “Data Protection Law” means all laws and regulations concerning privacy, confidentiality and/or data protection, including the General Data Protection Regulation (Regulation (EU) 2016/679), the Data Protection Act 1998 (c 29), the Privacy and Electronic Communications (EC Directive) Regulations 2003 (SI2003/2426), the Regulation of Investigatory Powers Act 2000 and the Telecommunications (Lawful Business Practice) (Interception of Communications) Regulations 2000 (SI 2000/2699) and any relevant national laws implementing Directives 95/46/EC and 2002/58/EC.
2. Chaser’s obligations
Chaser will endeavour to collect the Debt and perform the Services on your behalf. You authorise us to collect the Debts as your agent and to give good receipt to the debtor/s. We will use every reasonable effort to complete agreed Services, but we do not under any circumstance guarantee any recovery. If we see necessary, we may recommend obtaining legal assistance from a Chaser-approved provider. Yet, we will always consult with you before proceeding with this step. We may Reject any Debt and stop our collection process upon notice to you. If this is the case, we will not impose any Commission in respect of that Debt.
3. Instalment debts and payment plans
If a Debt is payable in instalments of which not all are yet due, we may deduct a pro rata share of our Commission from any instalment. Where you consent to accept payment of a Debt by instalments, we may recover a Commission as though the whole Debt has been paid. If a payment plan is agreed by all parties, meaning you and us, we will collect our pro rata share. Where a payment plan or agreement has been made seperate to us, we will recover our full commission.
4. Customer’s Obligations
You are obligated to provide all Documentation (being materially true, complete and accurate) we reasonably require in the format we agreed. You will not waive or alter the terms of any Debt or sell, assign, hinder or transfer such without informing us. Such activities may deny us the opportunity to collect the Debt, and therefore Chaser will be entitled to a Transfer Charge in such event from the date of the sale, assignment, transfer or encumbrance. You shall notify Chaser immediately of any payment received in respect of any Debt regardless of the source or any matters affecting the debt or its collectability. You are not liable to pay us the agreed Commission unless we are able to collect the debt set out in the Debt Instruction Agreement. Once a Debt has been collected, our Commission will be due (i) regardless of who receives payment of the Debt, (ii) who pays the debt, (iii) where a Debt is paid within 12 months of termination of the Debt Instruction Agreement; (iv) even if a Debt is found to have been paid or payment offered; and (v) even if you settle the Debt in exchange for credit, goods, services or permit a Debt to be set off (this shall be charged as if the face value of the Debt had been paid). You will fully compensate us against any claims, proceedings, liabilities, losses, damages (including reasonable costs), charges and expenses of whatever nature arising out of, or in connection with any claim or action made against us relating to the performance of the Services. You give us permission to phone, text and email your clients. You are aware that we will record conversations with your clients which we will store for three months. Thus, you have the right to request copies of these recordings, both audio and visual up until three months after they were gathered.
Our Commissions are set out in the Debt Instruction Agreement above, but may be altered by reasonable notice. We will apply the suitable commission rate, defined in the Debt Instruction Agreement, to the age of the Debts based on the date your Debt Instruction Agreement is signed/submitted. Unless specified, the Commission is based on a percentage of the total collected amount (with interest and charges for late payment) only. Once we have commenced collections activity, you have to have valid concerns about our service in order to not be liable for payment. If you Withdraw a Debt from us without our prior agreement, a Commission will be imposed as if the Debt had been fully collected and you are held accountable for reimbursing us for all costs reasonably incurred on your behalf. All invoices for our Commission are accepted if they are not objected to within 7 days of receipt, and they must be paid in full within 7 days of receipt. If any Commission is not paid when agreed due, we can exercise our rights under the Late Payment of Commercial Debts (Interest) Act 1998 (as amended), and we may charge interest on the outstanding amount at the rate of 8% (eight per centum) above the Barclays Bank base rate until the date of actual payment and may at our wish suspend or terminate the Services.
We will perform the agreed Services with reasonable due diligence and skill and in accordance with any agreed standards. Except where prohibited by law, Chaser’s liability to you in respect of any claim arising out of the Services shall be limited to (where subject to insurance cover) the proceeds of insurance cover; or (where not) a sum equal to the Commissions attributable to the lesser of any Debts giving rise to the claim or the Commissions levied during the past 6 months. We shall in no event be liable to you for any loss of business, contracts, profits, goodwill or anticipated savings or other special, indirect or consequential losses.
7. Force Majeure
Chaser will not be liable or take responsibility for any delay in, or failure of, the agreed Services due to any occurrence, event or cause beyond our reasonable control which obstructs the performance of any of our commitments to you.
Unless essential for the agreed Services or under clause 11, both parties shall treat as confidential all Confidential Information and shall not disclose it to any person, except its own employees who have to know, without the other party’s prior written consent on condition that this clause shall not extend to information (i) rightfully in the possession of such party, (ii) which is already public knowledge or becomes so in the future (other than as a result of a breach of this clause) or (iii) which is insignificant or obvious. Neither party will use the other as a commercial reference, except in cases where we may use successful recoveries as a case study or press release.
9. Duration and Termination
The Debt Instruction Agreement is valid from the time you sign the contract and will continue unless terminated as explained in this clause. Both parties are entitled to terminate the contract on 14 days’ written notice. If you terminate our contract, you will have to pay all Commissions and expenses accruing for the period up to, and including the date of termination. If the other party is declared bankrupt, has a receiver or administrative receiver or administrator appointed or will pass a resolution for winding-up or enter into any voluntary arrangement with its creditors, or ceases/threatens to cease to carry on business, both parties can instantly terminate the contract. We are entitled to terminate the Services instantly without giving notice if you are in material breach of our Debt Instruction Agreement, and fail to solve the breach within 7 days of us asking you to do so. Clause 9 does not affect our or yours rights or liabilities.
It is crucial that any notice given from both parties shall be in writing. Approved means of delivery are either delivered in person, sent by first class postage, or sent by e-mail to firstname.lastname@example.org, and will be served if by personal delivery when delivered, if by first class post 48 hours after posting, and by email when dispatched.
11. Credit and Debtor Information
You agree, and can confirm that your principals and directors will consent that we are allowed to consult, or register any information we see necessary with a licensed credit reference agency, including information about your directors and principals. We can keep records of that search both on computers and on manual records. We may use your Copy Documentation, and other data, which excludes your identity as a creditor, but includes the value of Debts and Debtors’ identities, in our business and include it in credit reporting/business information services provided to third parties.
12. Data protection and use of personal data
No variation of these terms and conditions will have effect unless it is in writing and signed by, or on behalf of both of us. No failure nor delay in exercising our rights shall be seen as a waiver of that right, and no waiver of any breach can be considered as a waiver of a subsequent breach. If the whole or any part of this Debt Instruction Agreement should be unenforceable, the remainder shall remain in full force and effect. The Contracts (Rights of Third Parties) Act 1999 will not apply to this Debt Instruction Agreement. This Debt Instruction Agreement is governed by English Law and jurisdiction shall be accepted in English Courts.