Business Collection One

BUSINESS COLLECTION ONE

This Business Collection Agreement (the "Agreement") is entered into as of Effective Date: by and between Client Name: with principal place of business at Client Address: , and Contractor Name: with principal place of business at Contractor Address: .

WHEREAS

WHEREAS, Client is a business that holds accounts receivable and other monetary claims for services rendered or goods supplied and seeks professional assistance to recover overdue amounts; and

WHEREAS, Contractor provides collection services, including skip-tracing, demand communications, negotiation, and litigation referral, and represents it has the experience and authority to perform such services in accordance with applicable law; and

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows.

SCOPE OF WORK

Contractor shall provide collection services for those accounts specifically submitted by Client and accepted by Contractor. Services may include written and telephonic demands, account investigation, skip-tracing, negotiation of settlement, placement with third-party attorneys, and related collection activities described below.

PAYMENT TERMS

As compensation for services performed under this Agreement, Client shall pay Contractor in accordance with the terms set forth below.

All sums due to Contractor shall be paid in lawful funds and shall be exclusive of any taxes, duties, or other governmental assessments imposed on the services provided, except taxes imposed on Contractor's net income. Client shall reimburse Contractor for reasonable and preapproved out-of-pocket expenses incurred in connection with collection efforts.

TERM AND TERMINATION

Term: This Agreement shall commence on Start Date: and shall continue until End Date: unless earlier terminated in accordance with this Section.

Either party may terminate this Agreement for convenience upon providing Notice Period: days' prior written notice to the other party. Either party may terminate immediately for material breach that remains uncured for thirty (30) days after written notice specifying the breach. Termination shall not relieve Client of its obligation to pay Contractor for services rendered and expenses incurred through the effective date of termination.

CONFIDENTIALITY

Definition: "Confidential Information" means non-public business, technical, financial and account information disclosed by Client to Contractor in connection with collection services, including account details, debtor contact information, ledger balances, documents, and settlement terms.

Obligations: Contractor shall (a) use Confidential Information solely for performance of this Agreement; (b) restrict disclosure to employees, agents, or professional advisors who have a need to know and who are bound by confidentiality obligations at least as protective as those in this Agreement; and (c) implement commercially reasonable measures to protect Confidential Information from unauthorized access or disclosure.

Exceptions: Confidential Information does not include information that is or becomes generally available to the public other than through Contractor's breach, was already known to Contractor without restriction at the time of disclosure, is independently developed by Contractor, or becomes available from a third party having the lawful right to disclose it.

Remedies: Contractor acknowledges that breach of this Section may cause irreparable harm for which monetary damages may be inadequate and that Client shall be entitled to injunctive relief in addition to other legal remedies.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to its conflict of laws principles. Venue for any dispute arising out of or relating to this Agreement shall lie exclusively in the state and federal courts located within that state.

MISCELLANEOUS

Assignment: Neither party may assign or delegate its rights or obligations under this Agreement without the prior written consent of the other party, except that Contractor may assign receivables arising from this Agreement.

Independent Contractor: Contractor is an independent contractor and not an employee, partner, or agent of Client. Contractor shall have sole responsibility for its employees, agents, and subcontractors and for compliance with applicable employment laws.

ENTIRE AGREEMENT

This Agreement, together with any schedules or attachments executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous understandings, agreements, representations, and warranties, whether written or oral. No amendment or waiver shall be effective unless in writing and signed by authorized representatives of both parties.

Survival: The obligations of the parties that by their nature survive termination or expiration of this Agreement shall so survive, including but not limited to payment obligations, confidentiality, governing law, and indemnification provisions.

Counterparts: This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Signatures transmitted by electronic means shall be binding.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the dates set forth below.

Sign Now