Between Credit Intelligence (Pty) Ltd and the Client

 

Definitions

In this agreement, except in a context indicating that some other meaning is intended:

(a) “Signature” hereof shall mean the acceptance by registering on the website of Credit Intelligence Pty Ltd trading as Credit Intel (hereinafter called CI) and accepting the terms electronically by ticking “I Accept the Terms of Agreement” and furthermore by clicking on the “Submit” button.
(b) “Date of commencement” and “Date of signature” means the date on which this agreement becomes legally binding between the parties by registering on CI’s website and accepting the terms electronically by ticking “I Accept the Terms of Agreement” and furthermore by clicking on the “Submit” button.

Terms and Conditions

1. The duration of this agreement shall be for twelve months from date of signature and will remain in force, unless cancelled by either party by giving at least 30 days’ notice
after the initial twelve months.
2. The Client is of the intention to hand over selected outstanding debtors and collection matters (hereinafter referred to as “Client’s Debtors”) to Credit Intelligence Pty Ltd
(hereinafter called “CI”) for the collection thereof and CI undertakes to apply reasonable endeavours to collect such Client’s Debtors. Accordingly, the Client hereby appoints
CI as its lawful agent in respect of all Client’s Debtors handed over to CI for collection and the Client shall ratify all such lawful actions taken by CI in the pursuance thereof.
3. CI does not guarantee that the Client’s debts/monies will be collected or that any specific process in doing so or attempting to do so will be followed. All work done together
with that of agents or service providers appointed by CI or actions taken by either of them shall be done in CI’s sole and exclusive discretion.
4. CI warrants that it will safeguard and refrain from using such information for any other purpose other than to collect the Client’s Debtors.
5. The Client warrants that the information provided to CI is true and correct to the best of its knowledge and that it has the capacity and authority to act and instruct CI to act.
6. The Client hereby authorises CI to receive monies collected, hold such monies in trust, and to deduct any monies owed in respect of fees as set out above, from such monies
and then to pay the balance into the Client’s nominated banking account. Any monies received from the Client’s debtor shall be applied first to service fees.
7. CI undertakes to fully account to the Client in respect of the monies collected on its behalf.
8. The Client undertakes to provide information on all payments received by the Client at least once a month in respect of all collection matters that were handed over to CI.
9. Monies received by CI from the Client’s handed over debtors once the agreement has expired, will be remitted to the Client and CI will be entitled to the service fees. CI shall retain the right to retain matters in which an active and ongoing payment arrangement is in place.
10. The Client agrees to pay the non-refundable subscription fee following date of signature of this agreement, on presentation of invoice.
The subscription fee shall be payable regardless of any action taken or not taken and regardless of the success in the collection of any client debts.
11. The Client agrees to pay a Service Fee as chosen on the actual amount collected following date of signature of this agreement.
12. CI reserves the right to change the fees reasonably from time to time after the initial twelve months, with at least 30 days’ notice to the Client.
13. CI shall charge the Client’s handed over debtor/s on monies collected from such debtor/s in accordance with Annexure “B” of the Debt Collectors Act 114 of 1998 together
with the Magistrates’ Courts Act 32 of 1944, both as amended, hereinafter called “Debtor Fees”.
14. CI shall be entitled to fees so incurred in the collection of the Client’s debts should the Client’s debtor/s pay the Client directly. The Client undertakes to settle CI’s fees on
presentation of invoice.
15. In the event that a Client withdraws a previously handed over debtor, the Debtor Fees will become due and payable by the Client to CI.
16. The Client agrees to cede all handed over debts to CI for the purpose of default listing of debtors on registered credit bureaux.
17. The Client indemnifies CI and its employees against any loss or damage suffered as a result of this agreement or anything incidental thereto.
18. In the event of any dispute pertaining to this agreement, the parties consent to the jurisdiction of the Magistrate’s Court.
19. The Parties choose as their respective domicilia citandi et executandi for all purposes under this Agreement, whether in respect of court process, notices or other documents
or communications of whatever nature, for the Client the address as given on this agreement, for CI: Credit Intel Legal Dept., Dx 600 Johannesburg, 4th Floor, Carlton
Centre, 150 Commissioner Street, Johannesburg, Dx 13 Halfway House.
20. No agreement to vary, add to or cancel this Agreement shall be of any force or effect unless reduced to writing and signed by or on behalf of the Parties to this Agreement.