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Debt Collection

 

The Client agrees to pay to Global the appropriate fees and costs as shown below which are payable on the collection in full of each separate debt

Amount Collected                               % of Debt

Up to $10,000.00                                 22.00%

$10,000.01 to $20,000.00                  20.00%

Over $20,000.01                                   18.00%

Minimum fee for collection of any debt in full is $30.43 ($35.00 including gst).

All fees costs shown are excluding gst.

Note: Our collection fee as shown above will only be charged on collection of the debt in full please note above fee structure excludes field  agent visit costs, any offshore collection agency costs, credit checks, trace costs, legal recovery costs and preparation of documents for any legal/court action. All these services must be approved by the Client in writing before such action is taken and costs associated with such recovery action is payable immediately whether the debt is collected or not. Global may charge a load fee of $5.00 plus GST on any debt sent for collection that is over 12 months old at the time the debt is loaded and any debt that is over $10,000 will incur a load fee of $20.00 plus GST. These load fees are payable by the Client on loading of the debt(s).

Global may at its discretion vary their term of trade including collection fees / charges at any time. These changes will be advised on the Global website via the Client Area and / or the terms of trade section.

The Client will be invoiced at the end of each month for all collection costs and undertakes to make payment by the 20th of the month following the invoice date. Should the invoice not be paid on the due date the client may be liable for an administration fee of $15.00, penalty interest at a rate of 10%pa and any collection costs not excluding legal costs associated with the recovery of the outstanding invoice(s). Failure to pay the outstanding invoice(s) could also lead to a credit default being loaded. At its discretion Global may require the Client to pay the invoice immediately that is invoiced to the said Client.

Should a debt be disputed once Global has started collection action and the debt is referred to the Disputes Tribunal, the client must ensure the collection fee is added to the debt amount if their terms of trade allow the adding of collection fees. Should the Disputes Court see in the Clients favor then the collection fee is payable.

The Client authorises Global to contact any parties associated with the debt(s) handed to Global at any time under the provisions of the Privacy Act 1993 and the Client will confirm to the debtor(s) if called on that Global has such authority.

The Client undertakes to immediately notify Global should the debtor(s) approach them with a repayment arrangement whether acceptable or not make any payment in full settlement or in part payment of the debt, where an agreement is made to credit / set off any part of the debt or receive any correspondence from the debtor(s) or any party acting for the debtor(s).

Global in turn undertakes to keep the Client fully informed of the collection process and use its best endeavours to collect the debt(s). Global will seek instruction from the Client before accepting any payment of a debt where the amount offered is less than the full amount.  At all times Global will ensure that any information provided by the Client on their business will remain confidential.

The debtor(s) provided by the Client will be loaded on Global’s database and that information may be provided to third parties such as, but not limited to credit reference companies who may provide credit default information to other parties the Client authorises such use under the Privacy Act 1993 and Credit Reporting Act 2004.

The Client undertakes not to withhold any information that is relevant to the collection of the debt. Should it be found after collection action has already started on a specific debt that the Client has withheld or failed to disclose any information that may deem that debt to be unrecoverable then Global at its discretion may charge an administration fee of up to $50.00 plus gst.

 

Should the Client request Global to remove a specific debt where a repayment arrangement has been entered into and payments have started or the debtor has entered into an agreement with Global to pay the debt in full and it is later found that they have paid then the Client will be liable for the collection fee. Should Global negotiate a full and final settlement amount that is acceptable to all parties involved then the appropriate collection fees/costs as shown above will apply on the total amount paid to the Client. Global may at its discretion charge a fee should the client request the removal of a debt after the debt has been loaded and collection has started.

Global reserves the right to terminate this agreement and cease all action forthwith at their discretion.

The Client undertakes that to their best knowledge the information relating to any debt handed to Global is true and correct and undertake to advise Global if any of the debts handed to Global are under dispute by the debtor(s).