Customary charges contingent upon collection on commercial accounts are 25% of any monies collected in excess of $501.00 domestic except if otherwise specified. MINIMUM CHARGES ON COLLECTIONS OF LESS THAN $500.00 ARE 50%. International claims will be handled on a per claim basis.
Creditor shall defend, indemnify and hold harmless MB&S, its agents and employees, from and against all liabilities, losses, claims, demands, suits, actions, damages, or expenses (including reasonable attorney's fees) of every nature or description arising out of or from any of the following: (i) any amendments to the schedule of rates for services being provided to the creditor by MB&S; (ii) the truth and accuracy of the information provided to MB&S by the creditor; (iii) the validity and lawfulness of the creditor's claim against the debtor; or, (iv) and acts, omissions or claims of an attorney relating to any account provided MB&S on creditor's behalf.
MB&S shall have the right to endorse for deposit and collection, in the name and on behalf of claimant, remittances received on accounts placed with us for collection, and to deduct from such remittances our authorized charges.
With respect to each account accepted by MB&S for collection, MB&S may make the collection ourself or forward on behalf of claimant the same for collection to an attorney or attorneys who are to be the claimant's attorneys or agents. If claimant does not designate the attorney to whom any particular account or accounts shall be forwarded on its behalf, MB&S is hereby authorized and instructed as claimant's agent to select an attorney for collection, (the name and address of attorney being promptly furnished to claimant) subject to charges not in excess of those referred to hereinafter, unless higher charges are agreed to by claimant. Any attorney to whom an account or accounts are forwarded, as herein authorized, is to act in his professional capacity on behalf of the claimant and shall be subject at all times to claimant's direction and control. Our employment is that of claimant's agent in exerting our own proper efforts to effect collections and with respect to accounts forwarded to attorneys, to conduct as a conveniences to claimant, with the understanding that the attorney is claimant's direct representative and the claimant and attorneys are, at all times, free to communicate directly with one another. MB&S is not to be responsible for any losses caused by the act or omissions on the part of said attorneys or agents. The forwarding of accounts to attorneys or others, on claimant's behalf, and conducting as a convenience to claimant the necessary correspondence with those to whom accounts are forwarded, in accordance with instructions from claimant. The total charges for Forwarding Service, including charges of attorneys, are usually a minimum of 40% of amount collected. There are additional charges by attorneys when suits or other legal proceedings are authorized by claimant consisting of suit fees, advance costs and in some instances, a retainer.
These services are available except where prohibited. Accounts withdrawn or settled directly are subject to charges for the service the accounts are in at the time MB&S receives notice from claimant, or otherwise learns of such event. MB&S at all times reserves the right to withhold any monies due claimant, and to deduct service fees due MB&S that have not been paid, for the purpose of settling off any and all unpaid amounts. MB&S reserves the right to charge a service fee herein identified as "discovery" for identifying those claims that have been paid one month or longer before being placed for collection, at a rate of 12.5%, with the same rate applicable to merchandise accepted by claimant as partial or full settlement, herein referred to as "merchandise return".
TERMS OF USE
Any Charges by MB&S to claimant on direct payments or otherwise, not settled within 60 days of billing will automatically be recovered from any monies owed by MB&S to claimant.
PERSONAL COLLECTION SERVICE
"HOLD HARMLESS" CLAUSE
DEPOSITS
FORWARDING SERVICE
CHARGES
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