Legal
Client Recovery Agreement
The subjects covered by the agreement between UK Financial Law and a creditor client.
Draft pending legal review. This document has been prepared operationally and has not been approved by a solicitor. Final wording requires separate legal review.
Purpose
The Client Recovery Agreement governs the relationship between UK Financial Law and a creditor client whose commercial accounts are referred for recovery. The summary below sets out the subjects the agreement deals with. The executed agreement takes precedence.
Subjects covered
- authority to contact the debtor on the client's behalf
- B2B-only case acceptance
- accuracy of the information supplied by the client
- authenticity of evidence supplied
- disclosure of any existing dispute before referral
- commission rate and how it is applied
- what counts as a recovery
- direct payments to the client and commission following a direct payment
- withdrawn cases and case closure
- settlement authority and payment plan authority
- external court fees and external legal or professional costs
- no guarantee of recovery
- data protection, confidentiality and VAT
- termination and case refusal
Standard commercial terms
The default arrangement is no successful recovery, no recovery commission, with a standard recovery commission of 25% of sums successfully recovered. Different rates and authorities may be agreed with individual clients.
UK Financial Law is a trading name of Retail ABC Ltd. We provide commercial debt recovery and claims-management services. We are not a firm of solicitors or enforcement agents.