Priority Credit Recovery - North America's leading commercial debt recovery and collection service provider

AGREEMENT

Consumer / Commercial Contract

Commercial Rates	25%

Retail Rates / International Accounts	35%

If account is more than one year past due, less than $500, has judgment or listed with another agency or lawyer	50%	I have read and acknowledge this commission rate.

Discovery Fee of ½ of our regular commission rate for previously paid accounts and accounts referred to collection in error.
When merchandise is recovered in lieu of cash payment, fees will be ½ of our regular commission rate.
Accounts withdrawn after placement will be subject to the regular commission rate.
Collection fees can be negotiated based on volume listings exceeding $500,000.00 annually.
There is a minimum $100.00 processing fee for placements withdrawn due to client error.

For accounts requiring legal action, we will provide you with a Permission to Sue form, which outline the attitude of the debtor, our intention after Judgment and court costs involved.

Terms and Conditions NO COLLECTION – NO CHARGE

I hereby authorize Priority Credit Recovery Inc. to establish a trust account on our behalf, to handle and process payments from our debtors. All interest earned on trust funds held by Priority Credit Recovery Inc. on behalf of the Creditor shall become the property of Priority Credit Recovery.
The Creditor agrees to leave the accounts assigned in the hands of Priority Credit Recovery Inc. for a period of not less than six months from the date of assignment, providing accounts are in the process of collection or litigation.
The Creditor agrees that the debtors assigned to Priority Credit Recovery Inc. are not/will not be given to another agency while assigned to Priority Credit Recovery Inc.
The Creditor agrees to report to Priority Credit Recovery Inc. all direct payments received by debtors submitted for collection to Priority Credit Recovery Inc. It is understood that full credit for collections is to be given to Priority Credit Recovery Inc. and the above commissions will apply. It is also understood that as soon as Priority Credit Recovery Inc. initiates action, all commissions are due and payable even if the customer clears up the account that day.
The Creditor guarantees that accounts assigned are legal debts and names and amounts of the accounts assigned are correct.
Listing accounts is implied permission to sue, however, Priority Credit Recovery Inc. will not commence court action on any account assigned without prior consent of the Creditor. Court costs and legal fees are the responsibility of the Creditor. Court awarded costs will be returned to the creditor without commission from the first monies collected on the account.
We regret we cannot accept the responsibility for the loss of original documents.
This contract applies to accounts listed now and at later dates.
No agent has the authority to alter or change in any manner whatsoever the above conditions or rates in this contract unless approved by Priority Credit Recovery Inc.’s management in writing.
I would like to have Priority Credit Recovery Inc. periodically forward to me, via email, information on the industry, trends, service issues and matters affecting my account that they believe are beneficial and informative. If at any time I wish to be removed from their list, I will advise them of such and I will no longer receive these messages.
I/We being authorized officer(s) of the Creditor acknowledge and agree to assume full responsibility, on a joint and several basis for any costs incurred, including legal fees on a solicitor and his own client basis, that arise in connection with the recovery of an overdue account between the Creditor and Priority Credit Recovery Inc.
Interest will be charged by Priority Credit Recovery Inc. at a rate of 2% per month (24% per annum) on overdue accounts.
The laws of Alberta will govern the relationship between the parties and I hereby agree to irrevocably attorn to the jurisdiction of the courts in the Province of Alberta.

A. Report to Credit Bureau?	Yes No
B. Interest to be charged on accounts?	Yes No
If yes - Amount	$
C. Settlement allowed?	Yes No
If yes - Terms (e.g. 90%) Amount	$

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Download our agreement and send it back via fax.

It has been provided in Adobe Acrobat PDF format. If you do not have Adobe Acrobat, please download it by clicking on the icon below.

Send completed form via fax 1-866-266-0137 or email it to: info@prioritycredit.ca