collectionagencyagreement：集代理協(xié)議

1、collection agency agreementknow all men by these presentsthis agreement made and entered into thisinby and between:an entity duly existing under and by virtue of philippine laws with office address atrepresented herein by its duly authorizedhereinafter referred to as the agencya corporation exisring

2、 under and by virtue of philippine laws with address atrepresented herein byhereinafter referred to as thebankwitnesseth, thatwhrereas the agency is engaged in the business of collecting accounts through judicial and extra-judicial means;whrereas the agency has offered its services for the collectio

3、n of receivables;now,therefore ,for and in consideration of the foregoing premises and the mutual covenants herein stipulated the agency hereby undertakes to collect and assist in the collection of money claims which the bank has against its borrowers on a “no result no paym basis subject to the fol

4、lowing terms and conditions:1. 1 .nno result no pay" basis means that the agency shall not collect any fee or commission from the bank unless collection of the receivables is actually made, whether partially or in full collection here refer only to cash collections, whether paid to the agency o

5、r to the bank .however the agency may collect commission on payments in dacion only upon the conversion of the property to cash. all offers for dacion in payment shall be referred to and handled by the bank.2. n endorsing accounts to the agency ,the bank shall deliver to the agency state me nts of a

6、ccount and all other perti nent docume nts evide ncing the indebtedness of the borrower as the basis for effecting collections. the agency shall not collect from the borrowers any other amount ,fee or charge except those stated in the statements of account;3. the agency guarantees to exert all extra

7、-judicial remedies to effect collection within a period of ninety(90)days from the date of endorsement hereinafter called ”collection period” and should there be no positive result whatsoever within the collection period, such as partial payment ,the agency shall return such account to the bank upon

8、 the latter's dema nd. should there be positive con tact with the borrower the said collection periods shall be deemed renewed.positive con tact shall mean pers onal communicati on with the borrower where the said borrower executes a written promise to pay for a period not exceeding on e(1)month

9、 the agency shall submit to the bank a monthly status report of all such accounts which shall include the date of endorsement and the date of expiration of the collection period of the accounts covered by the report .the agency shall likewise render an opinion-status report as often as may be necess

10、ary, on whether or not extrajudicial remedies or action to effect collection is still effective. if an account be found to be uncollectible ,the agency shall return the account for whatever disposition the bank may so desire ,indicating therein the reason and/or findings for such particular account.

11、4. the collection of all accounts receivables under this agreement shall be under the direct management ,control and supervision of the agency which shall be independent of, but directly responsible to the bank as to the results of collection jor such purpose ,the bank authorizes the agency to negot

12、iate such payment scheme or arrangement enunciated under the payment policies of the bank ,but subject to the condition that any waiver or condonation of any amount due and owing to the bank shall be with prior consent and approval of the bank. the bank may accept any payment from ,or enter into any

13、 kind of payment arrangement with the borrowers relative to any account endorsed or turned over to the agency, provided the agency is promptly informed of any such payment and likewise advised of any payment arrangement prior to effecting the same such payments made directly to the bank shall be cre

14、dited to the agency as part of its collection recovery;5. .by way of compensation, the bank shall pay to the agency a contingentcollecti on fee at the rate ofof the actual amount collected, in elusive of allcharges ,commissions and other expenses the agency may incurred6. in case of recoveries or co

15、llection through voluntary surrender of properties (dacion en pago) by any borrower, the price at which the property is actually sold to a third party shall be considered actual collection upon acceptance of the bank of said properties .commissi on shall be paid to the agency only upon con version o

16、f the properties to cash7. .the agency shall advise the bank within the day of any receipt of collection in cash or in check and shall remit the same to the bank in full(gross amount collected)within the same day the cash collection was made. however where circumstances and distanee will not allow r

17、emittanee of collection within the same day ,the agency may remit the particular collection to the bank on the next ban king day.the daily collection to be remitted shall be summarized by the agency and remitted to the branch cashier, together with the duplicate copy of the provisional receipts the

18、bank on the other hand shall promptly submit to the agency a report/listing of all accounts for which payments were made directly to the bank by the borrower.8. judicial prosecution of collection cases up to its successful conclusion shall be an undertaking of the bank, however on a case-to-case bas

19、is ,the bank may opt to assign this activity to the agency under a separate commission scheme or pay arran geme nt.9. n case of court litigation arising out of this contract, the parties expressly agree tosubmit themselvesto the jurisdictionof the proper courtsinthe party at fault expressly agrees t

20、o pay attorney's fees in the amount of p10,000.00 or 25% of the total amount due whichever is higher and all amounts due to either party shall earn interest at the rate of one(1) per centum per month from the due date thereof.10. this agreement shall have an initial life of one(1) year from the

21、date of its effectivity and shall be deemed renewed automatically from year to year unless a written no tice of renegotiati on or termi nation is served by one party to the other within thirty(30)days immediately prior to the expected date of termi nation; provided however ,that in case this agreeme

22、nt shall no longer be renewed ,the agency shall have the option to retain accounts receivables with pending payment arrangements with it until the same are fully liquidated, but only for the remainder of the collection period, unless authorized by the bank to continue even beyond the said period11. .the agency shall issue in favor of the bank a performanee bond in the amount ofpto guarantee complianee by the agency of a