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Quality Asset Recovery (QAR)
agrees to make every effort to recover your asset (account
receivable).
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QAR agrees to comply with Federal and State regulations regarding
the recovery of your asset.
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QAR agrees not to charge any additional fees (other than those
allowed by a court) or interest on assigned inventory unless included in
this contract.
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QAR agrees to report payments received by our office on the 7th
of the following month. QAR will provide a statement of all payments
received on assigned inventory at this time. QAR will withhold fees due
QAR on these recoveries and submit payment or an invoice for any
additional balance due at this time.
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QAR agrees to act as an agent for your company in the handling of
these payments, this includes accepting payments in your name and
honoring agreements made by you or our office in respect to this
debt.
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The client agrees to report all payments received on assigned
inventory promptly. The client agrees to accept responsibility for
efforts to collect incorrect balances that result from a delay in
payment reporting to QAR.
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Inventory will be considered assigned to this office upon receipt
of a copy of all invoices included in the current balance. The client
should also include all identifying information on the debtor at the
time of the assignment. The client can choose to assign individual
accounts or combined balances at their
discretion.
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The client agrees to pay QAR __% of the recoveries generated on
assigned inventory.
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NO COLLECTION, NO CHARGE.
