Commercial collection services are provided independently by Smyyth Collections LLC (“Agency”) on the following Terms and Conditions. By placing a debt for collection you (also referred to as “Creditor”) accept these terms. All Accounts referred to Agency by Creditor shall be governed by this Agreement. This document is subject to change from time to time, so you should check this location for updates.
- Creditor represents that any Accounts that it refers to Agency are legally due and owed commercial receivables, and not consumer obligations.
- Creditor may refer to Agency certain accounts or debts (“Accounts”) for collection, which, if accepted by Agency, Agency will provide its collection services on behalf of Creditor at our standard fee schedule of 25% for domestic and 35% for international accounts or as otherwise arranged with Agency.
- Creditor shall provide upon request to Agency source documentation for any and all accounts due, and, verification of any balance due. Consumer debts, if accepted, at Agency discretion, may be forwarded to selected attorneys for handling,
- In case of payments received directly by Creditor, Creditor shall advise and pay Agency its commissions and other amounts due Agency upon invoicing. A periodic report of the status of all collections shall be provided to Creditor by Agency.
- For administrative convenience, if Creditor has not so selected, Agency is authorized to select attorneys on Creditor’s behalf, and then forward Accounts to them. The Creditor and the attorneys shall be free at all times to communicate directly, as attorneys are not employed by Agency but are the Creditor’s attorneys. Agency is not responsible for any acts or failure to act of such attorneys. Creditor shall be responsible for attorney fees, suit fees or court costs or any hourly attorney fees that have been agreed upon.
- Agency (and attorneys) shall have the right to endorse for deposit to hold payments received in trust for clearance of payment, and to deduct any and all Agency and attorney charges due from Creditor.
- Creditor shall be entitled to withdraw accounts provided that Agency has not made material progress towards obtaining payment within ninety (90) days. However, if any collections are received from such accounts within thirty (30) days of withdrawal, they shall be promptly reported to Agency, and the full Agency fees paid within fourteen (14) days. If the Creditor asks for closure of a file, or multiple files, despite the fact that collections are still ongoing and reasonably can be expected to be wholly or partly successful, Agency is entitled to compensation as if collection of the file(s) referred to Agency were completed.
- Creditor understands that Agency makes no representations about, nor guarantees of successful collection of any amount claimed as owing to Creditor and, additionally, Creditor agrees that Agency will not be liable for consequential damages in any event, even if advised of the possibility of such damages.
- Agency reserves the right to refuse to perform a service and to terminate an ongoing service if Agency has reasons to believe that the Creditor has not acted in accordance with applicable collection laws, local practices, or regulations, or acts or fails to act so that LEIB is unable to perform its services properly, or if the work undertaken is proven to be commercially unfeasible.
- The Agency is based in the State of New Jersey, USA and all questions with respect to the construction of this Agreement and the rights and liabilities of the parties shall be construed in accordance with the substantive law of the State of New Jersey, without regard to conflict of laws principles. Venue as to any action arising out of the subject matter hereof shall be in any court of competent jurisdiction in Mercer County, New Jersey. In the event of legal action, both parties waive trial by jury. Notwithstanding the foregoing, Agency may seek preliminary injunctive relief from any court of law in the event if in its judgment such action is necessary to avoid irreparable harm.
- This Agreement becomes effective upon the first time Creditor places an account for collection.
Smyyth Collections LLC
51 Cragwood Road
S. Plainfield, NJ 07080