Terms and Conditions. Debt Collection Services COLLECTIONS

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1 Terms and Conditions Debt Collection Services COLLECTIONS SUPPLY OF SPECIFIED SERVICE VILCOL WILL SUPPLY THE CLIENT THE SERVICE AS OUTLINED BELOW OR AS AMENDED FROM TIME TO TIME BY AGREEMENT BETWEEN THE PARTIES. COLLECTION PROCEDURE 1.1 Vilcol shall carry out the Collection of unpaid accounts by recognised methods in accordance with, and pursuant to, all relevant legislation, regulations and accepted trade practices. Vilcol shall at all time act in accordance with all relevant current legislation, the Data Protection Act and the current Code of Practice of Office of Fair Trading, Financial Credit Authority (FCA) and the Credit Services Association Limited. 1.2 The collection strategy can be designed by the client and all changes from the Vilcol standard strategy should be stipulated in the contract or quote. The content of letters, the periods between letters, the content of collection calls, the duration of the collections procedure, and the content & layout of activity reports can be specified. The action after the collection procedure ceases can also be stipulated for example moving to doorstep or litigation. In the absence of a client strategy the following Vilcol standard collection strategy will apply. 1.3 Vilcol is prepared to negotiate penalty clauses if required, based on allowing Vilcol a reasonable time to get up to speed with the type of work and working practise of a new client, before benchmarking against competitive agencies. 1.4 Upon receipt of your written instructions the cases are placed on the Vilcol Collections System and the collections procedure starts. 1.5 The client instructions can be sent by post or ; all additional relevant documents are scanned or imported to our management information system MIS. 1.6 The first collection letter is sent out on the first working to all addresses supplied, unless otherwise stipulated. The cases with telephone numbers are automatically put into the telephone pool and all supplied telephone numbers are scheduled for immediate telephone calling. 1.7 After the first collection stage all the supplied information is compared with an up to date internet based telephone numbering system. This supplies new addresses and telephone numbers. These are added to the existing MIS information. 1.8 When the first stage of the collection strategy includes a trace, for example in a Trace & Collection strategy. The matters are loaded on the collections system then sent to the Trace department for electronic tracing. The no traces are returned to the client. They can be manually traced if specified in the T&C strategy or procedure. 1.9 The new addresses are identified as such and added to the original instructions on the MIS system. They will be sent letters and telephoned the next working day If telephone contact is made with the debtor then the full amount will be requested or, if this is not a viable option, a realistic repayment schedule will be discussed between Vilcol 1

2 and the debtor. Vilcol will, if appropriate, discuss the repayment schedule with the client prior to acceptance All gone away and returned not at this address cases are then removed from the system and referred to the client. They are either return to the client or sent to the Trace department for an optional manual trace for a separate fee The second collection letter is automatically sent according to the collection strategy in 1.2 above or in the Vilcol strategy after seven days, to the main addresses if no telephone contact is possible If telephone contact is made with the debtor then the full amount will be requested or, if this is not a viable option, a realistic repayment schedule will be discussed between Vilcol and the debtor. Vilcol will, if appropriate, discuss the repayment schedule with the client prior to acceptance All gone away and returned not at this address cases are then removed from the system and referred to the client. They are either return to the client or sent to the Trace department for an optional manual trace for a separate fee The third collection letter is automatically sent according to the collection strategy in 1.2 above or in the Vilcol strategy after fourteen days If there is still no contact after a further seven days, twenty one days after the first instructions the Vilcol collection procedure ceases. If the debt is over 750 a fourth further letter or Insolvency letter is despatched to the address or as specified in the collection strategy in 1.2 above When we receive a response from the debtor and a payment in full is not possible, a repayment schedule will be entered into upon the receipt of a written Statement of Means from the debtor. If the debtor states they are unemployed or on Income Support, Family Credit etc., then documentary proof is required If there is a dispute on the account, we will make enquiries to resolve the dispute. This may involve us requesting further information from the Client Debtor complaints are investigated by the collections manager and reported according to the Vilcol ISO 90001, 2008 standard procedure. Customer complaints are dealt with in a similar manner directly by the managing director Once the collection procedure ceases the cases are referred back to the client. They can then be moved for example in to a doorstep procedure or legal collections procedure, these attracts different commission rate see schedule One In the event of the debtor not making any repayment, repayment proposals, or not responding to our payment demands, the Client can request us to place the account in Debt Surveillance, where it will be compared with new credit applications every six months, this attracts a different commission rate see schedule One The Client shall afford all reasonable assistance to Vilcol in respect of the submitted cases Matters can be requested to be returned to the client free of charge up to five working days from initial instruction. Thereafter it is deemed that the contracted collection procedure has commenced and all monies paid directly to the client or Vilcol and shall attract the agreed commission rate in schedule one Our Fee for this service is as per agreed fee stipulated on the Traceadebt.com site, the contents of which form a legal and binding part of this contract. 2

3 LEGAL COLLECTIONS 2 Litigation, if required, will be a separate collection procedure and invoiced as per current Woolf Reform rates and the current County Court Fees. Vilcol will claim commission on collected monies as before. AGREEMENT 3 This Agreement shall commence on the date which appears at the bottom of the Agreement and shall continue in force unless terminated by either party by giving one months written notice to terminate. 3.2 Unless otherwise required by written notice from the client Vilcol shall continue to provide Services in accordance with this Agreement in relation to all cases placed with Vilcol at the time of the Agreement. 3.3 Should either party terminate the Agreement all accounts held by Vilcol will, within a reasonable time, be returned to the client. All outstanding monies due will be invoiced immediately and paid within 28 days. PAYMENTS 4.1 Vilcol will pay all monies recovered from the debtors into a nominated bank account, details of which will be provided on request to the Client by Vilcol, which will be held separately from the Agency s money. 4.2 All monies recovered from the debtors subject to the conditions more particularly described in Traceadebt.com of this Agreement shall be paid to the client at the end of each accounting month or at such periods as agreed in writing by the parties. 4.3 The cancellations or re-calls of matters, will be Free of Charge up to 5 calendar days from receipt of instructions. When an account is re-called after 5 calendar days our commission is due in full see Traceadebt.com. 4.4 Commission is due on all monies paid to Vilcol or directly to the client. COLLECTION REPORTS 5.1 We will also report to you on:- 5.2 New addresses located (in accordance with the Data Protection Act current legislation), and Close Out reports. 5.3 There are optional special activity reports, that can be supplied as an when requested. These can be used for batches of trial work or for annual reviews. 5.4 If any further information is required from you, a response by fax or is required by us within five working days or within such time as both parties agrees as acceptable. 3

4 Terms and Conditions TRACE Service SUPPLY OF SPECIFIED SERVICE VILCOL WILL SUPPLY THE SERVICE AS OUTLINED BELOW OR AS AMENDED FROM TIME TO TIME BY AGREEMENT BETWEEN THE PARTIES Vilcol shall carry out the Specified Service by recognised methods in accordance with, and pursuant to, all relevant legislation, regulations and accepted trade practices. Vilcol shall at all time act in accordance with all relevant current legislation and the Data Protection Act Upon receipt of your instructions the trace is placed on the Vilcol System and the tracing procedure starts. 6.3 In all instances of tracing the gathering, storing and reporting of all information will be in accordance with the Data Protection Act as amended. 6.4 Where a new address is ascertained this will be confirmed whenever possible through a minimum of two sources. 6.5 Where the supplied address is found to still be current this will be confirmed through a minimum of two sources. 6.6 Where our investigations prove unsuccessful you will be furnished with a full account of our findings without charge. 6.7 All tracing will be completed within a maximum of thirty days from receipt. 6.8 On occasions that you may require a recheck, we will seek confirmation of our original information from different sources and respond within 10 days. If, after further investigation, we find that our original information is incorrect, but are able to confirm the subject s current address, this further report will be forwarded to you under the auspices of the original invoice. In the circumstance that we find our original information is incorrect, and are unable to confirm the subject s current address, we will issue you a credit. In the circumstances that we find our original information is correct you will be charged a trace fee for the re-working of that case (subject to service level agreement). 6.9 The charge for our tracing service is as per Traceadebt.com and forms a legal and binding part of our agreement There is no charge for unsuccessful traces Vilcol agrees to accept your instructions in paper, computer disc format or electronically. 7. We aim to offer an efficient and effective service and will deal with your business in a competent and professional manner with care and diligence 8. The client shall afford all reasonable assistance to Vilcol in respect of the submitted cases. 9 This agreement shall commence on the date which appears at the bottom of the agreement and/or as defined by discussions by both parties and shall continue in force unless terminated by either party by giving one month written notice to terminate. 10 Should either party terminate the agreement all traces held by Vilcol will, within a reasonable time, be returned to the client with an invoice for work completed to the effective date. 4

5 11 If any further information is required from you, a response by fax or is required by us within five working days. ADDITIONAL SERVICES 12.1 The client may, at any time during the currency of this Agreement, request Vilcol to carry out additional services as agreed between the parties from time to time The parties shall agree the remuneration for any additional services prior to Vilcol taking action on such instructions as may from time to time be issued For the avoidance of any doubt any additional services shall be carried out in accordance with this Agreement subject to such amendments as may be agreed in writing between the parties. NOTICE 13 Any notice given under this Agreement shall be in writing and shall be delivered by hand or sent by first class mail or facsimile transmission addressed to the relevant party at the address given at the foot of this Agreement or such other address as may be notified for such purpose and shall be deemed served, if by hand, when delivered, if by first class mail, three days after date of posting and if by facsimile transmission, when despatched as evidenced by positive transmission report. DISCLAIMER 14. Nothing in this Agreement shall create:- I. A sole agency collections Agreement. II. Employment of Vilcol within the meaning of the employment legislation or as amended or as re-enacted from time to time. III. A partnership within the meaning of the Partnership Act 1890 or as amended or reenacted IV. A joint venture between parties. DATA PROTECTION ACT 15. Vilcol will not be responsible for breaches of the Data Protection Act 1998 which may be deemed to have arisen as a result of the original information passed to us which we, under current legislation, are permitted to use. All matters relating to original information and its compliance with the Data Protection Act 1998 remain with the Client. Vilcol will not be deemed Data Controllers of the clients information but only Data Processors. At all times the client is deemed as the Data Controller under the definition of the Data Protection Act (as amended). LEGAL 16. This Agreement shall be governed by the laws of England and Wales and the parties submit to the exclusive jurisdiction of the Courts of England and Wales Village Investigations Ltd T/A Vilcol Vilcol House, 97 Ewell Road, Surbiton Surrey KT6 6AH 5