Terms of the single order

Tasks are accepted by INC Business (Chamber of Commerce: 73064165), hereinafter referred to as the “Collection Company,” which operates the trademark Collection Company under a granted license from CM TM B.V. The general terms and conditions, accessible at https://collection-company.com/terms-and-conditions/, apply to the service agreement.

1. Applicability 

The following conditions are valid for individual orders submitted via the website, as long as they do not deviate from other agreed-upon rate arrangements and conditions that have been confirmed in writing by the Collection Company. This includes, among other things, a service agreement or an ongoing promotion. For all orders, the general terms and conditions of the Collection Company also apply, which are available at https://collection-company.com/terms-and-conditions/. If desired, you can request a copy of these general terms and conditions free of charge.

2. 24/7 Online Access 

Using our Online Tool, you can monitor the progress of your cases, submit new claims, make comments, and provide payment information at any time, 24/7. Regarding the execution of the order, we ensure that the submitted principal sum is collected from your debtor, along with interest, 15% collection costs, administrative fees, and any information costs.

3. No Cure No Pay 

The principle of ‘No Cure No Pay’ applies to all of our collection orders. In the event that we are unable to collect your claim, we will not charge you any fees.

Partial collection: 
For partial collection, if only a portion of the outstanding amount is recovered, we charge a percentage of the collected amount. The minimum amount for this is €37. For amounts up to €2,950, we apply a rate of 15%. For amounts up to €5,900, we charge 10%. For amounts up to €14,570, we apply a rate of 8%. For amounts up to €59,000, we charge 5%, and for amounts above €59,000, we charge 3%

4. Exceptions

If you decide to withdraw a collection order, negotiate a payment arrangement or settlement outside of the Collection Company, fail to notify the Collection Company or provide incorrect information regarding the claim, handle the payment or collection yourself, or if the Collection Company is not authorized to recover interest and collection costs from the debtor, or if further collection actions are hindered, the Collection Company will calculate a 15% commission on the full amount of the principal sum placed for collection, along with all additional costs.

5. Obligations of the Client 

It is essential that you keep the Collection Company informed about all payments, correspondence, and other interactions between yourself and the debtor. After the transfer of the claim, contact with the debtor regarding the claim should be kept to a minimum. No arrangement with the debtor should be made without prior consultation with the Collection Company. If necessary, you are expected to provide a copy of all relevant documentation concerning the respective claim, at the request of the Collection Company.

6. Dispute 

In the case of a disputed claim, an assessment will be made of the nature of the dispute. If this dispute is found to be without merit, the collection process will continue. It is up to the Collection Company to decide whether a claim is substantively disputed. If so, the ‘No Cure No Pay’ approach will no longer apply, and the Collection Company will contact you to discuss possible next steps.

7. Legal Collection

If your debtor refuses to pay after an intensive amicable process, you will receive a comprehensive proposal from us, free of charge, outlining the possibilities for legal collection. Collection Company handles the entire legal and bailiff process, allowing your collection to proceed seamlessly.

8. Debt Monitoring

Collection Company offers debt monitoring, where the recovery position of your debtor is monitored after the conclusion of the amicable process. In case of recovery, the collected amount is evenly distributed between you and the Collection Company. You decide whether to avail yourself of this option.