1) PARTIES
This agreement is made and entered into between:
(Hereafter called “Client”)
And
Continental Credit Control, Inc. dba RADREVENUE
(Hereafter called "Agency")
CONTRACT
2) SERVICES; COLLECTION ACCOUNTS
a) Upon receipt of delinquent accounts Agency will send Client a current alphabetized listing of all accounts
received and amount owed Client.
b) Agency works only on a contingency basis. There are no out of pocket expenses for the Client. The
contingency fees are taken out of monies received by Agency or billed Client should debtor pay Client or
the Affiliate directly following assignment to Agency.
c) Agency agrees to collect bad debt accounts for Client at the rate of 30% on all accounts directly collected
from a debtor without Agency's use of skip tracing to locate the debtor or without use of third-party
attorney (“Demand Accounts”) and 40% on accounts requiring skip tracing, referred to an attorney or
forward agency. No accounts will be forwarded to an attorney without Client's written authorization.
3) TERM
The term of this agreement shall remain open for one year. Renewals will be automatic for one-year intervals.
Notice of termination must be in writing 60 days prior to the normal anniversary date of this agreement in any
given year.
4) CLIENT ACCESS TO FILES
Client or Client's agent(s) shall have the right to enter Agency's premises during normal business hours for the
purpose of inspecting the Client's own files and records.
5) AGENCY DUTIES
a) Agency shall provide remittance for the previous month's collections along with a detailed statement of
the amount received by Agency and Client within 60 days of receipt of monies due Client.
b) Agency shall comply with all state and federal laws, including but not limited to those applicable to the
collection of debts. Agency will not represent that it or its representatives are acting on behalf of Client or
any of Client's Affiliates.
c) Legal action: Agency will only file suit on an account with written authorization from Client. Under no
circumstances shall Client be responsible for payment of attorney fees or costs on any accounts referred
by Agency to an attorney for collection.
d) Agency will not be obligated to file suit on assigned accounts. Agency will not be liable for accounts
barred by the statute of limitations.
6) SETTLEMENT OF ACCOUNTS
Agency is ___ is not ___ authorized to settle assigned accounts without special permission. If authorized, agency
may settle for no less than ___% of the principal balance assigned. Agency will not settle for less than this
amount without special authorization from Client.
7) CLIENT DUTIES
Client represents that the account balances will reflect true and just indebtedness, that Client followed all laws
and regulations affecting the accounts assigned, that the account balances are not barred by any statute of
limitations, that the consumer(s) obligated to pay the assigned accounts are not represented by an attorney or
protected by any bankruptcy proceeding and are not at time of assignment assigned to another collection agency,
attorney, or other persons.
Client agrees not to make active collection attempts with the consumer(s) of the assigned account. Client further
agrees to notify Agency upon receipt of any notification of bankruptcy or that an attorney represents any
consumer whose account has been assigned.
8) INDEMNIFICATION; LIMITATION OF LIABILITY
Agency agrees to indemnify and hold harmless Client against any and all claims, demands, damages or costs
arising out of Agency's acts or omissions.
Client agrees to indemnify and hold Agency harmless against any and all claims arising out of Client's acts or
omissions.
9) ACCOUNTS ASSIGNED
Pursuant to this agreement Client will assign to Continental Credit Control, a California Corporation doing
business as, Continental credit Control and Rad Revenue, claims, notes and accounts (collectively “accounts”)
that are unpaid and due, including all contractual and statutory rights relating thereto, and acknowledge that
Agency has exclusive right to collect and enforce all obligations relating thereto, including, without limitation,
credit reporting assigned accounts to a Credit Reporting Agency, filing suit as determined appropriate by
Agency, forwarding to out of state Attorney/Agency for the purpose of collection and to assert all rights under
Civil Code section 1719 for treble damages on returned checks. This agreement shall apply to all accounts
assigned heretofore and hereafter.
a) Agency shall not be required to return accounts where legal fees have been incurred or where payments
are in progress or have been arranged to pay.
b) Agency shall not be required to return accounts that are certain to be collected because of some future
event, such as probate claims or insurance claims already filed, or pending loans or escrows by which the
agency has reasonably been assured payment.
c) Agency shall not be required to service accounts with a total balance under the value of $20 USD.
d) Agency may impose a 10% contingency fee, if more than 10% of the current month's placements are
retracted at the Client's request
10) SUCCESSORS AND ASSIGNS
The terms, covenants, and conditions hereof shall apply to bind, and inure to the benefit of the parties hereto and
their respective heirs, executors, administrators, legal representatives, successors and assigns.
11) CONFIDENTIALITY
Agency agrees to maintain absolute confidentiality of Client's (and Client's Affiliates') records; and that all such
records (or parts thereof) shall not be transferred, in any fashion, to any other party without the written consent
of Client. Furthermore, Agency guarantees that Client's records shall be used exclusively for the purpose of
collecting debt owed to Client or the Affiliates; and that Agency's collection activities shall be conducted in a
professional and non-threatening manner in accord with all state and federal regulations and laws. Limited
information on the Client's type of business and area of operation may be shared with State and Federal
regulators and Agency's Bank underwriting departments. This paragraph 6 shall survive termination of this
agreement.
12) REMITTANCE AND CREDIT REPORTING
To promote good public relations, properly update credit reporting status of consumer accounts and to assure
Agency ceases collection activity, Client agrees to report all payments it receives direct promptly to Agency.
Agency shall have the right to endorse for deposit to Agency's Client Trust Account any check, draft or other
negotiable instrument, in the name and on behalf of client, from remittances received on assigned accounts.
To partially compensate Agency for work done on accounts where there is no recovery and for other unrecovered
court costs and attorney's fees advanced, whenever authorized by statutory law, specifically by California Civil
Code 3287 (a) and California Civil Code 3289 or by contract, interest accrued over the assigned amount that may
be collected shall be retained by Agency. Agency, as assignee, may waive or reduce the amount of interest
accrued as part of negotiating or reaching a payment arrangement with the consumer. All collections shall first be
applied as follows: Reimbursement of advanced Court Costs, Attorneys fees, Client Assigned Amounts, Accrued
Interest.
Agency may report accounts to the major credit reporting agencies, such as EXPERIAN, EQUIFAX and TRANS
UNION, unless specifically requested otherwise by Client.
13) NOTICES
All notices, demands and other communications to be given or delivered under this agreement will be in writing
and will be deemed to have been given (i) when delivered, if personally delivered by hand; (ii) when received, if
sent by a nationally recognized overnight courier service (receipt requested); (iii) 3 business days after being
mailed, if sent by first class mail, return receipt requested, or (iv) when receipt is acknowledged by an affirmative
act of the party receiving notice, if sent by facsimile or other form of electronic transmission (provided that such
an acknowledgment does not include an acknowledgment generated automatically by a facsimile or telecopy or
other electronic transmission device).
IN WITNESS WHEREOF, the parties have affixed their signatures and titles, on the dates indicated.
