Terms and Conditions
1. The Client hereby appoint Ringrose Credit Control (being the Company) in accordance with the Conditions set out herein. The Company recommends that independent professional advice be obtained prior to entering into this agreement. These terms and conditions should be read in conjunction with, Guide to Fees, Service Entitlement and Privacy Policy.
2. The Company undertakes to act as Agents in the attempted collection and recovery of monies owing to the Client, by any Debtor or Debtors listed either verbally or in writing from time to time by the Client and to do all things lawful and deemed necessary thereafter by the Company to effect this purpose.
3. The Client agrees to promptly provide all information and documentation as reasonably requested by the Company to facilitate the collection of monies owing to the Clients. The Client agrees to advise the Company promptly of any credits, contras given or monies received directly by the Client on those accounts listed for collection. If no response is forthcoming within 60 days of the Company’s request in writing for the clarification of arrangements, payments, credits, contras or a request for information, then for the purpose of this Agreement the account is deemed collected.
4. The Client agrees to pay on those matters listed for collection, and subject to the Service Entitlement commission in accordance with the Commission Rates and all out of pocket expenses including Professional and legal charges, bank fees, financial institution or financial services fees disbursements, account keeping fees and or Goods and Services Tax. All payments and or collections, contras, credits or matters withdrawn are subject to commission charges at the agreed scale and for the purpose of this agreement are deemed to be collected amounts.
5. This is a continuing appointment, but either party can terminate by giving 14 days notice in writing to the other. Matters listed for collection and uncompleted at the end of this appointment are subject to the Company being entitled to recover all deferred costs, subsidies, fees and or commissions thereby rendered abortive.
6. The Client holds the Company free of any liability whatsoever. The Company shall not be liable for any loss or injury caused by the neglect or other act or omission of the Company in procuring collection and/or communicating such information or in acting as the Clients duly authorised Agent. The Client shall indemnify and keep the Company indemnified against any liability, loss, claim or costs for damages arising out of the use of information supplied or any other loss, claim or cost that may be suffered by the Company in its capacity as the Clients duly authorised Agent.
7. On expiration of any Annual Subscription period matters listed for collection and uncompleted will be continued with as per the Commission Payable Option as described in the Service Entitlement. It is agreed that matters not withdrawn in writing on or before the expiration of the Subscription period can be continued with and all the Terms and Conditions herein remain in force. No refunds are available for SMS messaging credits if not used during the Annual Subscription period, credits will carry over on continuous renewal.
8. If the Company agrees to defer or subsidise any costs associated with any one account listed for collection and in the event that a payment is received being a payment as defined in this agreement for that account, then the Company will look to recover these costs when a payment is received. Where subsidies or deferred costs have been agreed to, the company shall also be at liberty to retain (after payment of the original debt and recoverable fees), any interest component as additional remuneration for its services. If it becomes apparent and in the opinion of the Company a payment can not be received as defined in this agreement, no deferred costs, subsidies or interest is payable.
9. The Client authorises the Company to appoint and instruct a Solicitor to take such legal proceedings in the name of the Client as may be necessary to effect recovery of monies owing. The Company agrees to seek the Clients instructions to commence legal proceedings prior to legal proceedings being commenced. The Company is authorised to advance payments for court costs, Solicitors fees and all other costs associated with obtaining and enforcement of Judgments. In defended matters or requests for further and or better particulars the Client Agrees to pay the Company a secretarial fee to coordinate, prepare, negotiate or reply to any requests. Where the Company deems necessary a separate costs agreement will be presented. All costs shall remain the responsibility of the Client. Such costs are payable by the Client on receipt of the Company’s monthly statement. The Client further authorises the Company to appoint others commercial agents on behalf of the Client and assign any services to those agents at its discretion.
10. All accounts are to be settled within 30 days of the date of receipt by the Client of the Company’s statement. The Company Statement is presumed received 2 business days after posting to the Clients postal address.
11. The Client authorises the Company to endorse for deposit cheques payable to the Client and receive all monies collected on its behalf and to hold the same in trust for the Client subject always to the right of the Company to deduct there from all monies that may otherwise be due by the Client to the Company. If payments are received via a Credit Card, the Client Indemnifies the Company for the transaction fee, charge, levy and or claim backs. The Client authorises the Company to pass any transaction fees, charges or levies on to the Debtor.
12. This agreement and any contract for the supply of goods or services to the Client shall be deemed to have been entered into in Queensland jurisdiction Southport Court district.
13. The Appointment to Act commences on the date shown on the Service Agreement, continuance of this agreement can be by mutual consent and or the payment by the Client of any Annual Subscription fee within 30 days of expiration. It is agreed that while collection action is current on any one account and that account has not been withdrawn in writing, then this agreement remains in force.
14. The website, www.ringrose.com.au (the "Site") is provided by Ringrose Credit Control ("the Company"). By accessing and/or using the Site, the Client acknowledges that the Client has read, understand, and agree to be legally bound by all the Terms and Conditions. If the Client does not agree to abide by the Terms and Conditions, the Client is not permitted to access or use the Site.
a. The Company grants the Client a non-exclusive, non-transferable, revocable, limited right to access and use the Site for the purpose of conducting business and communicating with the Company. The Client retains all rights and interest in the data (the "Data") that the Client adds on the Site. The Client retains responsibility for its accuracy and can amend or delete the data at any time. The Site, including all Data, is protected from unauthorised use, the Company only accesses the data for the sole purpose of conducting business between the Company and the Client, and any data accessed by the Company is subject to the Company Privacy Policy. The Company may delete Data on non active files without notice to the Client.
b. The Client agrees they will comply with all applicable laws and use the Site only for lawful purposes; take necessary precautions to ensure that all content or other data posted or otherwise made available on the Site does not contain any viruses, time bombs, worms, Trojan horses or other computer programming that may damage or interfere with the operations of the Site or any system, or information pertaining to the Site; and be solely responsible for any use or misuse of the Clients user name(s) and user password(s), and take all precautions necessary to maintain the secrecy and security of the Clients user name(s) and user password(s). The Client agrees they will not violate the privacy rights of other users of the Site; access or attempt to access portions of the Site dedicated to other users; modify or tamper with the software of the Site; allow unauthorised disclosure or copying of any part of the Site or any information obtained from the Site; allow use of the Site by any third parties, engage in any conduct that, as determined by the Company in its sole discretion, restricts, inhibits or impacts any other user from using the Site; or transmit to or through the Site any unlawful, harmful, threatening, abusive, harassing, defamatory, vulgar, obscene, sexually explicit, profane, racially, ethnically or otherwise objectionable data of any kind.
c. To the maximum extent permitted by law, the Site, the information and data on the Site, and the software made available on the Site, are provided “as is” without any representation or warranty and the Company, and their representatives, expressly disclaim all warranties, express or implied, of any kind including, without limitation, any warranties of satisfactory quality, fitness for a particular purpose.
d. Notwithstanding anything contained herein to the contrary, the Company makes no representation or warranty concerning the accuracy, completeness, operation, or availability of the Site or any data, information or content posted on or otherwise accessible through the Site. Neither the Company, nor any of their representatives, warrant or covenant that the Site will be secure, uninterrupted or error-free. The Client accepts full responsibility for any use made by its authorised users using the Site. The Client expressly agrees that the use of the Site is at the Clients sole risk and that the Company, its affiliates and their representatives shall not be responsible for any termination, interruption of services, delays or errors in the Site.
e. The Company reserves the right, at its sole discretion, to change, modify, add or remove any portion of these Terms and Conditions in whole or in part, at its discretion and without notice. A copy of the current Terms and Conditions is displayed on the Site at all times. You should therefore periodically visit the Site to determine the then-current Terms and Conditions. By continuing to use the Site the Client accept the Terms and Conditions as they apply from time to time.
f. The Company shall have the right to terminate or suspend the Clients access to all or any part of the Site and/or the Clients right to use the Data at any time, with or without notice, for any conduct that the Company, in its sole discretion, believes is in violation of these Terms and Conditions, or is harmful to the interests of another user, any third party or the Company. The Company may terminate, change, suspend or discontinue any aspect of the Site and/or the Data, including the availability of any features of the Site, at any time and without notice or liability. The Company may also impose limits on certain features and services or restrict the Clients access to parts or the entire Site without notice or liability.
g. To enable the correct working of the Internal Action procedures in the Cash Flow System from the Site the Client agrees to Provide:
(g-1). Details for Electronic funds transfers (EFT) namely Account and BSB numbers for transferring funds. EFT’s may be used for payment for monies held in trust by the Company for the Client or for directing the Clients customers (debtors) to make payments direct to the Client. Where the Client has neglected, refused or is unable to provide EFT details the Company reserves the right to substitute their EFT Trust Account details. Any monies received by the Company via EFT’s where it was necessary for the Company to substitute their details, will incur a service fee for all payments received and redirected to the Client during any month.
(g-2). An active mobile phone number to where SMS message replies can be directed. Where the Client has neglected, refused or is unable to provide an active mobile phone number, the company reserves the right to substitute a virtual number chosen and monitored by the Company. Any SMS replies received by the Company on the virtual number, from SMS’s sent to Clients customers (debtors) by the Client will be redirected by the Company to the Client by email, a service fee for SMS to email per redirection will be incurred.
(g-3). An email address to where emails replies can be directed. Where the Client has neglected, refused or is unable to provide a current email address, the company reserves the right to substitute an email address chosen and monitored by the Company. Any email received by the Company in reply to emails sent to the Clients customers (debtors) by the Client will be redirected by the Company to the Client by posting by ordinary post within 7 days of receipt, a service fee for this service will be incurred.
15. Any one provision in this Agreement if found to be invalid or unenforceable shall not effect any other provision.
Service Entitlements:
1. COMMISSION ON RESULTS
When an account is listed for collection action, commission is payable subject to the Terms and Conditions, Ringrose Credit Control will make all the contact and payment demand decisions without reference to you. Unlimited demands may be made on a file to achieve payment. We will only contact you for special instructions that may need to be clarified from time to time.
2. CASH FLOW SYSTEM
We ask a modest upfront Annual Subscription fee, in lieu of commission on results.
The Cash Flow System is predominantly a client prompted system, unless the Commission Payable option has been invoked. It involves internal action by yourself, or you may wish to instruct Ringrose Credit Control to take external action. This is achieved with the aid of The Cash Flow System administered by Ringrose Credit Control. For a practical explanation the Cash Flow System is split into 3 areas Credit Control, Internal Action and External Action.
Credit Control includes procedures and documentation for assessing Credit Applicants and obtaining Personal Guarantees, all provided in the Client web portal.
Internal Action
involves a 3 progressive demand system or a stand alone final notice demand, these actions are initiated by you using our preformatted letters, emails or SMS messages, each action demands a payment and introduce Ringrose Credit Control as a third party, no commission is payable on Internal Action matters, 200 SMS messages, unlimited internal demand letters and email demands are included in the annual subscription fee, this is the most cost effective way of pursuing slow accounts. All actions, ledger notes, procedures and instructions are recorded within the Cash Flow System hosted in the cloud and administered by Ringrose Credit Control. Accessible on any computer, tablet or smart phone with Internet access your email address and security password.
External Action is for all other action and involves instructions to Ringrose Credit Control, e.g.; verbal demands, letters of demand, setting up and monitoring repayment plans, skip tracing, negotiating settlements, process serving and coordinating legal action, all the way through to Bankruptcy or Liquidation, should that become necessary. All debtor lodged are sent a free initiating Demand.
No commission is payable on any recovered amount providing your Annual Subscription is current when a payment of an account is received, and you have not chosen the Commission Payable Option.
Commission Payable Option this is an external action procedure and can be taken any time after the initial free demand, you must inform us that you wish to take this option. Taking the option has the same effect as the Commission on Results service entitlement. Why and when you would take this option? The Cash Flow System is a predominantly a client prompted system, if no results are obtained from our initial free demand, you may request us to undertake additional demands, personal visits or location enquiries, these services attract additional fees if the Commission payable option is not taken. Once taken the option cannot be reversed. We suggest taking this option only after our initial demand, on difficult debtors, where location enquiries are necessary, or on those debtors who may require regular prompting. We don’t recommend taking this option if legal action is pending after the initial demand.
3. CUSTOMISED SERVICES
To be negotiated. We realise that in order to satisfy all needs we have to be flexible and provide customers with the versatility needed to handle all types of debt recovery problems. You now have the ability to choose the desired service and cost structure, have one of our experienced credit consultants tailor a package to suit your needs.
LEGAL ENFORCEMENT ACTION
If legal action is desired or becomes necessary, we will contact you for your approval. The fees applicable are those fees which the court would normally allow as recoverable from the Debtor. They include Professional Costs at the scale rate, court outlays, process service fees, Solicitors or Agents attendance fee.
In all legal matters, Professional Costs, Court outlays, Process Service fees, plus interest where applicable are added to the debt amount However, due to the nature of the court system and the Professional fee structure, this is not always possible. If your Debtor has signed a Credit Application stating that they agree to pay all collection costs and or account keeping fees, please advise us, as this will assist in their recovery.