RES 88574 - Laserfiche WebLink

C . XFO nA 8/ /85 Agreement for Collection Service PAYCO-GENERAL AMERICAN CREDITS, INC., herein referred to as "COIJ-F~CTOR," and THE CITY OF PLEASANTON, herein referred to as "CLIENT," agree that the accounts placed with the COI.I oF~CTOR are uncontested and subject to the terms and conditions of the following agreement between the parties: 1. The conduct of COLLECTOR in collecting the account shall be in compliance wkh federal, state and local laws and shall be courteous and businesslike, consistent with the image and reputation of the CLIENT. 2. Collections made by COLI-F~CTOR of CLIENTS accounts will be deposited immediately in a separate mist account maintained in a bank for CLIENT, as well as other clients. COLLECTOR is authorized to endorse checks drawn in favor of CLIENT for deposit to the trust account maintained by COLLECTOR for receipt of sums collected on the accounts. 3. Collection assignments are subject to the rules and regulations of the Bureau of Collection and Investigative Services of the State of California. 4. All collections made by COI,I.F-CTOR of CLIENTS accounts will be remitted to CLIENT less COLLECTOR'S collection fee. CLII:~NT agrees to provide COLLECTOR with information on all direct payments received by CLIENT from accounts placed for collection with COLLECTOR. COLLECTOR will prepare a statement containing account names, numbers, dates payments received by COLLECTOR or CLIENT, gross amounts of collections and collection fees due COIJ-F~CTOR. Collection fees due COIJF~CTOR on any statement to CIJF~NT are due and payable upon receipt of the statement by CLIENT. COLLECTOR has the fight to offset any such fees unpaid after ninety days against collections made on CLIENTS accounts. 5. Collections made by COLLECTOR and remitted to CLIENT by COLLECTOR, on which a check is returned by the bank unpaid, shall be reported on the remittance advice as a minus payment and minus collection fee. CLIENT will notify COl I-F-CTOR when a check is returned by the bank unpaid on a payment made direct to CIX!~NT on which CLIENT has paid COLLECTOR the collection fee due. COLI*F~CTOR will list such returned checks on the next statement for direct payments to CLIENT as a minus payment and minus collection fee. 6. The collection fee on payments made to COLLECTOR and direct to CLIENT on nonlegal accounts placed with COLLECTOR for collection shall be 33-1/3%. 7. COLLECTOR will not institute civil legal collection action on any client account without requesting and receiving CLIENTs express written account balance verification. The commission rate on accounts referred to legal by COLLECTOR shall be 33-1/3%. COLLECTOR agrees to advance all court cost on accounts referred to legal and CLIENT agrees from the first sums collected, COLLECTOR shall be reimbursed for all advance costs and then shall be paid its commission rate as specified herein and the balance shall then be remitted to CLIENT.