Terms and Conditions
We are Ashley Commercial Finance Ltd trading as Specialist Debt Collections (SDC)
Hexagon House Gatley Road, Cheadle, Cheshire.SK8 1LZ
Registered Office as above
Registered in England No. 2797120
You are
the “Client”
IMPORTANT : Only
complete the form if you totally agree with the following terms.
Ours Terms of Acceptance
1. Debtor
Debtors (customers) must be commercial and based in the UK, debts must be business to business.
2. Suitability
We reserve the right to refuse any debt.
3. Termination
We reserve the right to terminate the collection process, if we feel there are disputes that will not allow us to pursue the case successfully or if it is uneconomical to pursue the case or unlikely to be recovered within a reasonable period, without liability to SDC.
4. Conduct
SDC will determine the most suitable collection methods for a debt, no costs will be incurred without your permission.
All payments are requested to be paid direct to you the Client.
5. Cancellation
You may cancel your instruction at any time before the debt has been collected. However, if within 6 months from the date of instruction the Debtor pays you direct, or you come to any arrangement with the Debtor then the whole fee will be immediately payable to SDC.
6. Our Fees
The fees payable, only on successful recovery, are as follows:
10% of the outstanding balance where the amount is 31 to 60 days from the invoice date.
15% of the outstanding balance where the amount is 61 to 120 days from the invoice date.
17.5% of the outstanding balance where the amount is 121 to 180 days from the invoice date.
25% of the outstanding balance where the amount is 181 to 365 days from the invoice date.
There is a minimum fee of £200 on all amounts recovered.
If payments are made in instalments the minimum fee will not be applied to individual payments.
If late payment interest or debt recovery charges are negotiated by us, on your behalf, there will be a 25% charge for this service on the additional amounts collected.
7. The Debt
All debts must have been invoiced to the Debtor a minimum of 30 days prior to requesting SDC to collect any debt. A copy invoice must be available at all times, and produced within 48 hours of a request by ourselves. All queries must be disclosed at the time of ordering our services, and by not informing us, you are stating that no query exists between you the Client and the Debtor.
Please Note:
Unless we are instructed to charge Late Payment Interest, we will only collect the invoice amount. However, we do encourage the use of the Late Payment of Commercial Debts (Interest) Act 1998
If Late Payment Interest is to be charged, this will have to been requested in writing to the Debtor, before we can pursue payment.
8. Liability
SDC will not accept any liability to you or any third party for any kind of loss or damage, consequential or other due to disclosure or non-disclosure of all/any contentious or damaging information, be it intentional or unintentional. SDC reserve the right to seek damages and costs from you the Client where the Debtor suffers any loss due to our reliance on information provided by you
9. Our Service
We will write to the Debtor explaining our relationship to you and making a formal demand for payment,
We will contact your Debtor by telephone and by any other means at our disposal.
If a promise of payment is not received we will pay for a Solicitors letter to be sent, or, with your agreement, a Statutory Demand, Bankruptcy Petition or Winding Up Petition.
In 85% of debts the above action will result in settlement. Failing payment, we will offer you our best advice. We will advise you of options and costs BUT if this involves Solicitor's further work and Court fees, we will consult with you if you to agree the appropriate course of action. You can at this stage cancel your debt recovery contract without cost to you.
Law
This Agreement shall be governed and construed according to English law and you accept the jurisdiction of the English Courts.
All figures exclude VAT.