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This Commercial Debt Collection Service Agreement (the "Agreement") is between:
Ranch Club Capital (the "Agency"), a commercial debt collection agency with its principal place of business in Sacramento, California,
AND
Client Name: (the "Client"), with its principal place of business at 'client location', (collectively referred to as the "Parties").
1. Engagement of Services
The Client hereby engages the Agency to provide commercial debt collection services for outstanding debts owed to the Client. The Agency agrees to use its best efforts to collect such debts on behalf of the Client, subject to the terms and conditions set forth in this Agreement.
2. Contingency Fee
The Agency's services are provided on a contingency fee basis. The Agency shall be entitled to a fee equal to thirty percent (30%) of all funds successfully recovered from debtors (the "Collection Fee"). The Collection Fee shall be deducted by the Agency from the recovered funds prior to remittance to the Client. No fee shall be charged if no funds are recovered.
3. Client Responsibilities
The Client agrees to:
• Provide the Agency with all necessary documentation and information pertaining to the debts to be collected, including but not limited to invoices, statements, contracts, and debtor contact information.
• Confirm that all documentation and information provided to the Agency is factual, accurate, and complete.
• Promptly notify the Agency in writing of any direct payments received from debtors after the date of this Agreement. Any such direct payments shall be subject to the Collection Fee as if collected by the Agency.
• Cooperate fully with the Agency in its collection efforts, including providing any additional information or assistance as reasonably requested by the Agency.
4. Agency Responsibilities
The Agency agrees to:
• Handle all communication with debtors regarding the collection of outstanding debts. The Client shall refrain from communicating directly with debtors concerning debts placed with the Agency, unless otherwise agreed upon in writing.
• Use professional and ethical collection practices in accordance with all applicable laws and regulations.
• Direct all debtors to make payments directly to the Agency.
• Remit all recovered funds, less the Collection Fee, to the Client within business days of receipt of such funds.
5. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of California.
6. Entire Agreement
This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral, relating to such subject matter.