TERMS AND CONDITIONS COMMERCIAL COLLECTION SERVICES

1) Agency shall have the right to endorse for deposit and collection in the name of the Creditor payments received on accounts placed for collection, to hold such funds for clearance of payment, and to deduct any and all Agency charges due from Creditor.

2) In case of payments, or merchandise returns received directly by Creditor, Creditor agrees to advise Agency upon receipt, and pay Agency its commissions and other amounts due within thirty days of receipt. Agency collection charges apply to any claim that is withdrawn by Creditor pending collection.

3) Creditor indemnifies, and will defend and reimburse Agency for any payment made to the Creditor that subsequently is claimed to be a preferential payment under applicable bankruptcy and insolvency laws.

4) If the Creditor does not designate an attorney, Agency is authorized to select an attorney and forward account(s) to the attorney(s) selected. The Creditor and the attorney(s) shall be free at all times to communicate directly, as attorneys are not employed by Agency but are the Creditor’s attorneys. Creditor agrees to indemnify and hold Agency harmless from any loss, damage, or expense associated with the acts or omissions of any attorneys in connection with accounts forwarded.

5) Creditor agrees that Agency will not be liable for consequential damages, even if advised of the possibility of such damages. The agrees that Agency’s total liability, if any, for all losses or injuries arising out of any acts or omissions of Agency shall never exceed $1,000 and the Creditor promises that it will not sue Agency for an amount greater than such sum.

Any questions should go to info@smyyth.com