1. Account Accuracy and Authorization:
The Client, a Canadian-based business residing in Canada confirms that the names and amounts listed for collection are accurate and legally due, to the best of their knowledge. The Client authorizes ICON to collect and forward the listed account(s) at their discretion. Additional accounts submitted will be subject to the same terms outlined in this agreement.
2. Uncollectible Accounts:
The Client ensures that none of the accounts are bankrupt, out of business, or have unresolved disputes.
3. Commission Rate:
The Client agrees to a commission rate of 33% on all balances placed for collection, whether payment is made directly to ICON or to the Client. Rates are subject to change with prior notice to the Client. There are not start up costs or any administration fees.
4. Minimum Balance:
ICON will only accept accounts with a minimum balance of $100 CAD.
5. Client Liability and Indemnification:
The Client assumes all liability and agrees to indemnify ICON from any suits, actions, claims, demands, costs, and actual damages, except in cases where ICON is at fault for not adhering to collection guidelines under the Consumer Protection Act.
6. Credit Bureau Reporting:
The Client agrees to have all accounts reported to the relevant Canadian credit bureaus.
7. Contract Term and Cancellation:
All accounts placed with ICON are subject to a one-year contract. If the Client withdraws an account during this period, a 33% cancellation fee will apply. After one year, there will be no cancellation fee, provided the Client submits a written request to salesteam@iconcollectionsolutions.com at least 30 days in advance. All payments must be reported, or legal action may be taken.
8. Exclusive Collection Rights:
The Client confirms that the account(s) listed have not been placed with other agencies or law firms. If an account is placed elsewhere, a 33% fee will apply, and the account will be immediately closed.
9. Direct Payments and Invoice Terms:
The Client agrees to notify ICON of any direct payments immediately. ICON will invoice the Client at the end of the billing cycle for any outstanding balances. All invoices are due within 30 days of issuance. If the invoice is not paid within 90 days, ICON reserves the right to take legal steps, including placing the Client’s company into collections, and the contract will automatically terminate.
10. Collection Guarantee:
ICON does not guarantee or promise to collect debts within a specific time frame. ICON will not settle any debts without the Client’s written consent.
11. Authority and Responsibility:
The individual signing below confirms they have the authority to enter into this contract and are bound by the terms and conditions listed above. In the event that any invoices issued by ICON for direct payments are not paid within 90 days, the undersigned agrees to be personally responsible. This could result in the individual being placed into collections, which may affect their credit.
12. Communication Consent:
By providing contact information, the Client agrees to receive phone calls, text messages, and emails regarding their request, notifications, and promotions. Message and data rates may apply. The Client may reply STOP to unsubscribe or HELP for assistance.