Our Terms & Conditions

This agreement is made between

#1

Invoice Claims (company registration number 03662973) and includes the trading name of Passive Software Ltd of Building 2- J3 Business Park, Balby Carr Bank, Doncaster, DN4 8DE.

#2

And where a Invoice Claims customer, or any company relating to a Invoice Claims customer engages in our services in a collections capacity via telephone, email or website is hereafter referred to as ‘you’.

Instructions

#1

Instructions are sent to us via our website, by email, by telephone or fax.

#2

Once an instruction is received it is processed within 48 hours (excluding weekends, bank holidays and the period between Xmas Eve & New years Day).

#3

As a client you can create a free account via our website which will automatically register your business and position within the company. Any delegate accounts made by co-workers can also be linked to the same business.

#4

Our clients can upload individual invoices or bulk invoices and our system will automatically calculate Statutory Late Fees i.e. (Fixed Fee) Compensation, Interest and admin fees. In order for late fees to be added our client must opt in when uploading Invoice(s). We may also need to do additional verification checks prior to chasing the Invoice which will be done by a Dedicated Account Manager.

#5

Collection Recovery commences once the relevant fields have been completed and Statutory fees have been added or waivered. Our Client must have selected at least one option and communication method before our services can commence. It is the responsibility of our client (The Creditor) to ensure all details are accurate and that each invoice is legitimate.

#6

Once our Client has instructed us to begin chasing a debt then they may still be contacted by the Debtor. It is important to note that our client still have the right to discuss the matter directly with the customer (The Debtor) and can still demand and take payment. If payment is partially received or paid in full simply update the client portal immediately so we can send the correct correspondence to the Debtor and/or cease any further communication. If we receive a satisfactory settlement then a dedicated Account Manager will update the portal automatically and our client will be notified.

#7

Our admin fee/commission is due once payments have been received either directly to our client or us. If we receive payment we will deduct our fees from the balance and forward the difference to our client (The Creditor). If you receive payment directly from the Debtor an Invoice will be automatically raised when it is marked as paid on the customer portal. We reserve the right to follow up with your Debtor(s) to ensure that payment(s) have been made.

#8

We may pursue invoice debts under different trading names depending in the invoice amount, jurisdiction and/or industry.

#9

We reserve the right to terminate any pending recovery on ethical grounds or if we feel there is a lack of legitimacy regarding from our Client (The Creditor) regarding the invoice. We may also terminate the process if the Client (The Creditor) is not forthcoming with payment updates or information regarding an outstanding debt and charges may still be applicable. This also includes using our trading name and/or branding without prior written permission which could tarnish our reputation.

#10

Any touchpoint between Invoice claims and our Clients customer(s) will be logged and accessible to our Client during the recovery process and thereafter for up to 2 years. This includes any emails, telephone calls, SMS messages and Letters sent to the Debtors. Records may be kept in written format or as audio files.

#11

Invoice Claims takes no responsibility for any discussions had before or during the recovery process between the Creditor and Debtor. It is of the responsibility of our client (The Creditor) to ensure that they notify their Account Manager of any communications taken place.

We will always approach every Debtor in a polite and respectful manner with the aim of reaching a satisfactory resolution for our Client, however we take no responsibility for the demise of any trading relationship post communication with us and the Debtor.

#12

Invoice Claims makes no guarantee of being able to recover outstanding monies owed but will always aim to get the best solution possible for each one of our clients. This may include proposing payment plans or taking a lump sum settlement based on our experience with your Debtor, however we cannot provide financial advice and it will ultimately be the decision of our client (The Creditor) on which course of action is best to take.

Cancelling an Instruction

#1

In the event our client require us to cancel your instruction, charges will be applied to any payments received from the time the instruction is entered onto our system and the time of cancellation. This will include charges on Invoice above and below the 10,000GBP threshold.

If an Invoice has been paid directly to our client as a result of Invoice Claims chasing payment then this cannot be cancelled without charge and therefore charges will still apply.

#2

We reserve the right to investigate any invoice which has been deleted by our Client “The Creditor” which has not been marked as fully paid. This includes contacting The Debtor to clarify whether any payment(s) were made so that we can correctly apply our fees should a payment have been made during our chasing period.

We will contact our client “The Creditor” and an Invoice may be raised if our findings conclude that payment(s) have been made directly to our Client. Please note it is a violation of terms of service to not correctly update your account when a payment has been made directly to you the Creditor. Therefore please ensure any payments made are reported onto the system within 24 hours.

Our Obligations

#1

We will accept an instruction from you to act on your behalf to recover a debt and any interest, compensation and other charges, provided the debt us still collectible by law. Examples of a debt being non-collectable are: the debt is subject to the Limitation Act 1980, the debtor company is now in Liquidation or other form of insolvency. We will contact you as soon as we are aware of any potential problems with a case to seek either further instruction from you or to offer advice on alternative action.

#2

We will keep you informed on a regular basis and inform you immediately of any payments we receive.

#3

All cases can be viewed & tracked via our website using the secure login details provided to you. If you have any difficulties in using our website, assistance is available from our helpdesk team 0800 055 4525.

#4

We will use all reasonable and legally compliant endeavours to recover the debt on your behalf. We take legal compliance very seriously. We are an affiliate member of the Credit Services Association, authorised and regulated by the Financial Conduct Authority and registered under the Data Protection Act 1998.

#5

Unless otherwise instructed by you, we will seek confirmation from you regarding settlements, staged payments or escalation to the next level of collection.

#6

For multiple outstanding Invoices owed by a single business customer above 10,000GBP we may batch these and chase them as a single debt. If this is the case you will be assigned a dedicated case manager who will chase the debt and provide you with regular updates.

#7

Should any of our clients require additional financial advice or services, we will refer you to someone who is authorized by the FCA to provide the necessary advice or service.

Your Obligations

#1

You will provide us with the minimum information required to process the instruction.

#2

We will always require copies of Invoices corresponding to the debt and proof of payment i.e. snippets of bank statements or remittance slips as proof of late paid invoices. You agree to provide this information as quickly as possible in order for us to maintain an efficient and effective service. Any delay in providing this information will cause delays to chasing outstanding amounts or prevent us from chasing the debt entirely.

#3

Information provided to us by you will be as accurate as possible and will give a true reflection of the background of the case.

#4

Our client may still wish to contact Debtors whilst we are chasing overdue payments which is their right to do so. However, if our client does have any discussions relating to payment matters i.e. negotiations settlements or payment plans whilst we are pursuing payments, then they should endeavour to contact us directly or via the your online portal within 24 hours.

#5

If our client receives a payment from a debtor then they should inform us as soon as possible by telephone, by email or via your portal, ideally no later than 24 hours. We will then Invoice our client for our fees which will be due for payment within 30 days. If payment is not received within 30 days then late fees will be automatically added to the outstanding balance and daily interest will accrue based on the original invoice amount.

#6

It is your responsibility to ensure that any information passed to us is compliant with current ICO regulations for data protection.

#7

Deleting Invoices from our system may still incur fees if the invoice has been paid in full or partially paid. We reserve the right to make follow up enquiries with our clients customer/debtor.

It is a violation of our terms and conditions to delete an invoice from our system to circumvent paying our fees. Therefore if an Invoice has been paid or partially paid after we have begun chasing the Invoice then our fees are applicable regardless of whether the customer/debtor pays the balance via our system or directly to our client.

If the client does receive a direct payment whether it is in full or a partial payment they must update the status immediately to prevent further possible action.

Payments Received

#1

We endeavour to get payments from debtors paid in the quickest format for you.

#2

For Invoices 9,999.99 GBP and below, Invoice Claims takes an administrative fee starting at 40.00 GBP, rising to 85.00 GBP depending whether the original Invoice and Late Invoice Demand is paid within 7 days or after 7 days by the Debtor. The admin fee can rise to 120 GBP for invoices still due after 14 days up to 21 days but is capped at this amount.

If our client (The Creditor) opts to add Statutory Late Payment Fees to the original overdue invoice, then our admin fees are usually covered by the Statutory Late fees which the Debtor is required to pay.

Interest from Statutory Late fees is divided 50/50 and deducted from the balance which is sent to the customer. The fixed compensation fee is paid directly to our client (The Creditor).

The Balance is only considered settled when the whole sum including the Late fee added is paid. Any partial payments will be deducted from the original balance, but Interest will continue to accrue based on the whole original outstanding amount.

Our client (The Creditor) reserves the right to waiver Statutory late fees before the recovery process has begun or once payment of the original debt has been received. If Statutory Late fees are waivered then our admin fees are simply deducted from the balance The Creditor receives. Again, this is capped at 40.00 GBP if the Debtor pays within 7 days or has an Invoice 500.00 GBP and below, 85.00 GBP if after 7 days or has an Invoice value of up to 999.99 GBP and 120.00 GBP between 14 – 21 days or between 1000.00 GBP – 9,999.99 GBP

After 21 days and/or when a LBA (letter Before Action) has been issued to the Debtor, additional Court costs may be added if our Client (The Creditor) decides to take the case to Court. If they choose not to take the matter to Court or use their own Legal Team, then they will not face any further charges from us. Additional Court costs will be calculated on a case-by-case basis and our client will received an estimate prior to any action taking place.

If we do not manage to recover monies up to 9,999.99 on your behalf, then there is no fees to pay unless any pre-agreed pre-preparation work has been carried out.

#3

For Invoices above 10,000.00 GBP but below £150,000GBP a 2.5% commission is charged to you the client (The Creditor). This may be reduced no lower than 1% depending on the amount of pre-preparation work needed to begin the recovery process.

If our Client (The Creditor) decides to include Statutory Late fees then this will contribute towards our admin fee and in some cases may even cover our entire admin fee. Again, Interest is split 50/50 between us and our client and the fixed compensation fee is also allocated to our client although both of these can be used to subsidise our admin fee(s) if Statutory Late Fees are applied.

After 21 days and/or when a LBA (letter Before Action) has been issued to the Debtor, additional Court costs may be added if our Client (The Creditor) decides to take the case to Court. If they choose not to take the matter to Court or use their own Legal Team, then they will not face any further charges from us. Additional Court costs will be calculated on a case-by-case basis but will be estimated prior to any action taking place.

If we do not manage to recover the balance, then our admin fee may still apply in instances where we’ve had to do pre-preparation work although this will be discussed and made clear before the recover process has commenced. However, if we are simply chasing Invoices between the value of 10,000.00 GBP but below £150,000GBP and no pre-preparation work is required then no fee will apply if we do not recover any of the balance.

#4

For Invoice amounts above £150,000 a flat 5% commission is applied. Much of our admin fee(s) may be covered by Statutory Late Fees if our Client (The Creditor) decides to include it. In instances where Statutory Late fees are not added then our fee will become payable on receipt of first payment to our Client (The Creditor) by the Debtor.

If we do not manage to recover the balance, then our admin fee may still apply in instances where we’ve had to do pre-preparation work although this will be discussed and made clear before the recover process has commenced. However, if we are simply chasing Invoices above the value of £150,000GBP and no pre-preparation work is required then no fee will apply if we do not recover any of the balance.

#5

If the debtor does make payment(s) towards the debt either to us directly or to our Client (The Creditor) then our admin fee shall take priority and an Invoice will be raised immediately and made payable within 30 days.

If our Client (The Creditor) has opted to also include Statutory Late Fees to the Debt, then half of the Interest will be due to Invoice Claims within 30 days once the balance has been settled by the Debtor.

The Fixed Compensation fee will be allocated to our Client (The Creditor).

#6

In cases where cheques are made payable to us will be banked in a separate client bank account. Upon clearance the full amount will be transferred to you electronically.

#7

Debtor cheques sent to us, but made payable to you, are forwarded to you by first class post within 24 hours (excluding weekends and bank holidays).

#8

Payments taken electronically will be processed by stripe and a 2% charge will be added to the overall balance. 1.4% + 20p will be allocated to Stripe with the remaining 0.6% (less 20p) will be allocated to invoice. Once the full payment has been processed you will receive the remaining balance less Invoice Claims fees within 10 working days (excluding bank holidays and weekends). Invoice Claims generated Invoices due for payment can be processed via stripe where payments received will be stored in a client account and sent to your bank account electronically within 10 working days. All Late Invoice Demands billed separately will be taken using Stripe.

Charges

#1

We charge commission on a no-win-no-fee basis on payments made by the debtor up to 9,999.99 GBP immediately after our first payment demand has been sent to the Debtor. Please see our website for our commission charges.

#2

If the debtor goes into liquidation or insolvency or if any transaction does not proceed to completion for any reason during the period in which we are instructed, then we shall be entitled to charge for any pre-preparation work completed up to date of termination. If there has been no pre-preparation work carried out then then no charges will apply for insolvency or cancellation.

For amounts 10,000 GBP and above a minimum of 1% and maximum of 2.5% will be charged per invoice up to 150,000 GBP. For invoices over 150,000 GBP a 5% charge will be applied which will be liable to the Creditor and will be billed on 30-day payment terms when a debt has been recovered. VAT at the prevailing rate is chargeable in addition unless otherwise stated on the Initial Letter or Agreement or Receipt.

#3

In most instances you will be billed immediately after receiving monies recovered from the debtor although this could be up to 30 days after receiving recovered funds.

#4

Court fee’s, other disbursements and solicitors’ fees will be paid upfront by our Client (The Creditor) unless otherwise agreed. You may be invoiced for this service separately or it may be deducted from the amount paid by the debtor depending on the type of payment taken. Any invoice raised by Invoice Claims and sent to you are on strict 30 payment terms. If Invoices are not paid within that time Late fees will be applied.

Complaints & Disputes

#1

In the unlikely event you are dissatisfied with the service you receive please contact our Admin manager by email complaints@invoiceclaims.co.uk, or by telephone 0800 055 4525. A copy of our complaints procedure is available upon request. Please note that calls made to and from our switchboard are recorded for training, monitoring and compliance purposes. Telephone calls are securely stored for a reasonable period, along with all website and email instructions. This information may be taken into account should any queries be raised.