Chasemax, Inc. Terms and Conditions
for Commercial Account Placements
Chasemax, Inc. (“CHASEMAX”) and CLIENT agrees that
the accounts placed with CHASEMAX are subject to the
terms and conditions of the following agreement between
them:
1. All accounts placed from CLIENT to CHASEMAX will
be in compliance with federal, state and local laws
and regulations. CLIENT will refer to CHASEMAX for collection
services only commercial accounts which are due and
owing to CLIENT. No account will be placed by CLIENT
if the debt was incurred by the debtor for personal,
family or household purposes.
2. All accounts placed shall be placed by CLIENT utilizing
the CHASEMAX Commercial Collection Division Placement
Form. Placement of accounts for collection shall signify
CLIENT’S acceptance of these Terms and Conditions.
3. CLIENT warrants that the balances on all accounts
placed are true and correct and that any interest or
additional charges added to any account balance by CLIENT,
or which CLIENT directs CHASEMAX to add, are authorized
by contract or are otherwise authorized by law.
4. CLIENT authorizes CHASEMAX to endorse all checks,
money orders, drafts, cash, etc. payable to CLIENT for
the purpose of deposit into a separate trust account
maintained by CHASEMAX for its clients.
5. CLIENT shall promptly notify CHASEMAX of payments,
adjustments and disputes received directly by CLIENT
on accounts placed for collection. Failure to provide
such information promptly may result in a fine. CLIENT
shall be responsible for all fines for information not
provided to CHASEMAX.
6. The fees payable to CHASEMAX for its services are
set forth on Exhibit A hereto.
7. CHASEMAX shall provide CLIENT a detailed monthly
invoice. All collections made by CHASEMAX on CLIENT’S
accounts shall be remitted to CLIENT less the collection
fees due CHASEMAX by the 10th day of each month for
the prior month’s collections. In the event that the
amount collected by CHASEMAX is not sufficient to pay
all amounts due, CHASEMAX shall invoice CLIENT for any
unpaid amount due. All CHASEMAX invoices are due and
payable upon receipt by CLIENT.
8. Any negotiable instrument that is submitted by a
debtor, which is returned unpaid, will be charged back
to CLIENT, or CHASEMAX in the case of a payment to Creditor,
and adjustments as appropriate shall be made.
9. A cancellation fee will be charged on any account
that is inappropriately cancelled or due to interference
from client once CHASEMAX has been retained. Cancellation
fee will be full fee due or 15% of balance. Waiver of
Cancellation fees will be based upon just cause; our
corporate attorneys will review any discrepancies. In
event litigation deems necessary, unless Harris County,
Houston, Texas we direct and authorize you, as our attorney
in fact, to send the above account to an attorney, designed
by us, in the county of Debtor, and whose name appears
in the Columbia Law List Publication, according to prevailing
rates in the county.
