NMS Terms of Engagement

DEBT COLLECTION TERMS OF ENGAGEMENT WITH NMSNZ LIMITED (DECEMBER 2014)

1. Definition:

1.1   “NMS Collections” shall mean NMSNZ Limited, or any agents or employees thereof.

1.2   “Client” shall mean the Client, any person acting on behalf of and with the authority of the Client, or any person purchasing services from NMSNZ Limited.

1.3   “Services” shall mean all services provided by NMSNZ Limited to the Client and shall include without limitation the provision of debt collection and/or enforcement, recovery services, service charges, or any fee or charge associated with the supply of services by NMSNZ Limited to the client.

1.4   “Price” shall mean the cost of services as agreed between NMSNZ Limited and the client subject to clause 3 of this agreement.

2. Acceptance:

2.1   Any instruction received by NMS Collections from the Client for the supply of services shall constitute acceptance of the terms and conditions contained herein.

2.2   NMS Collections will make every endeavour to attend to the Clients affairs and provide efficient and professional service.

3. Price:

3.1   Where no price is stated in writing or agreed to orally the services shall be deemed to be sold at the current amount as such services are sold or provided by NMSNZ Limited at the time the services are requested.

3.2   The price may be increased by the amount of any reasonable increase in the cost of supply of the services that is beyond the control of NMSNZ Limited between the date of the contract and providing of the service.

4. Payment:

4.1   Payment for services shall be made in full on the 20^th of the month following the date of the invoice.

4.2   Receipt of cheque, Bill of Exchange, or other negotiable instrument shall not constitute payment until such negotiable instrument is paid in full.

4.3   Interest may be charged on any amount owing after the due date at the rate of 2.5% per month compounding until payment has been made in full.

4.4   Any expenses, disbursements and legal costs incurred by NMSNZ Limited in the enforcement of any rights contained in this contract shall be paid by the Client, including any solicitors fees or debt collection agency fees.

4.5   NMS Collections debt recovery service is provided by NMSNZ Limited to its Clients. NMS Collections fees are, at all times, invoiced to the Client. If the Clients terms of engagement make its debtor liable for debt collection costs then NMS Collections may increase the original amount of the debt owed by the debtor to the Client by the amount of our fees. It does not create a debt between NMS Collections and the debtor.

4.6   If for whatever reason, the Debtor pays the original amount of the debt but is unwilling to pay the NMS Collections fees, NMSNZ Limited will, if the amount is paid to NMS Collections, deduct its fees from the amount collected and remit the balance to the Client, or if the amount is paid directly to the Client, NMS Collections will invoice the Client for its fees.

4.7   If for whatever reason, the Debtor pays part of the original amount of the debt, NMS Collections debt recovery fees will be charged as a percentage of the amount recovered, and the debt lodgement fee and any other service fees agreed to by the Client will be invoiced to and payable by the Client.

5. Copyright:

5.1   NMS Collections retains copyright of all intellectual property prepared by NMSNZ Limited. The Client shall be entitled to use them or copy them only for the works and the purpose for which they were intended. The ownership of data and factual information collected by NMSNZ Limited and paid for by the Client shall, after payment by the Client, lie with the Client. The Client shall have no right to use any of these documents where any or all of the fees and expenses payable to NMS Collections have not been paid in accordance with this agreement.

6. Disputes:

6.1   No claim relating to delivery of services shall be considered unless made within seven (7) days of the invoice date.

7. Limitation of Liability:

7.1   The Client shall indemnify NMSNZ Limited against all claims of any kind whatsoever arising as a result of this agreement, except in the event of (1) a breach by NMS Collections or any employee of NMS Collections of this contract and/or (2) NMS Collections or any employee of NMS Collections negligence, gross negligence or fraudulent intent.

7.2   NMS Collections shall not be liable for any loss or damage arising totally or partially from the Clients failure to disclose all information pertinent to the successful execution of services.

8. Consumer Guarantees Act:

8.1   The guarantees contained in the Consumer Guarantees Act 1993 are excluded where the Client acquires goods or services from NMSNZ Limited for the purposes of a business in terms of section 2 and 43 of that Act.

9. Cancellation:

9.1   NMS Collections shall, without any liability, and without any prejudice to any other right it has in law or in equity, have the right by notice to suspend or cancel in whole or in part any contract for the supply of services to the Client if the Client fail’s to pay any money owing after the due date or the Client commits an act of bankruptcy, insolvency, liquidation, receivership or voluntary administration.

9.2   NMS Collections reserves the right to charge a cancellation fee limited to 5% of the outstanding balance of any debt, if the Client at any time, terminates or withdraws its collection instructions.

9.3   Notwithstanding the termination of this agreement the Client shall remain liable to pay all outstanding charges owing to NMS Collections which have been incurred by the Client prior to termination.

10. Miscellaneous:

10.1 The Client shall not assign all or any of its rights or obligations under this contract without the written consent of NMSNZ Limited.

10.2 Failure by NMSNZ Limited to enforce any of the terms and conditions contained in this contract shall not be deemed to be a waiver of any of the rights or obligations NMS Collections has under this contract.

10.3 The law of New Zealand shall apply to this contract except to the extent expressly negatived or varied by this contract.

10.4 Where the terms of this contract are at variance with the order or instruction from the Client, this contract shall prevail.

10.5 If any provision of this contract shall be invalid, void or illegal or unenforceable the validity existence, legality and enforceability of the remaining provisions shall not be affected, prejudiced or impaired.

 

Debt Collection Terms of Engagement with NMSNZ Limited (December 2014)