Silver Shield Capital

  1. 1. By entering into this agreement, the transportation carrier (hereinafter referred to as “The client”) warrants that you the legal owner, or that they have been duly authorized by the legal owner to enter into this Agreement. The client engages Sliver Shield Capital to act on their behalf in relation to debt recovery or related matters as requested.

  2. 2. The client authorizes Sliver Shield Capital to engage its attorneys or agents as necessary and agrees to use those representatives

  3. 3. This agreement shall remain valid until either party provides 30 days written notice by certified mail to the other party at their business address or registered office. The agreement shall terminate 120 days from receipt of the advice.

  4. 4. The client agrees that the rate selected shall apply to all debts placed with Sliver Shield Capital. The client agrees that payment of the Annual Subscription (where applicable), Handling (Rate) fees and Ancillary Fees shall always be due and is not conditional on the results of any debt collection process or the addition of our fees to the debt.

  5. 5. While effort is made by Silver Shield Capital to recover outstanding monies on behalf of the Client, no guarantee can be made that such money will be recovered.

  6. 6. The client warrants that all information it provides to Sliver Shield Capital is totally accurate, true and lawful.

  7. 7. The client confirms that where they instruct Sliver Shield Capital to collect the fees and charges of a collection matter that the client holds a signed written agreement with the debtor authorizing this action.

  8. 8. If clause 3 is executed or the client otherwise withdraws a file then the following shall apply;

    1. 8.1 Sliver Shield Capital and its attorneys or agents shall immediately cease action on all debts including any legal action

    2. 8.2 The client must inform all debtors that they must redirect any payments or instalments to them

    3. 8.3 There shall be no refund of any fees including subscriptions

    4. 8.4 All files shall remain the property of Sliver Shield Capital until all Sliver Shield Capital Invoices have been fully paid

    5. 8.5 Commission will still apply on all payments by the debtor as per clause 10 below.

  9. 9. The client must always advise Sliver Shield Capital immediately of any contact with or payment from a debtor or their representatives.

  10. 10. Commission will apply in all of the following circumstances from the time Sliver Shield Capital creates a debt on its systems;

    1. 10.1 On all payments received by Sliver Shield Capital, its agents, attorneys or representatives at any time (this shall include debts where clause 3 has been executed and/or any other debts that may have been otherwise withdrawn)

    2. 10.2 On all payments received by the client, its agents, solicitors, representatives or insurers during the term of this agreement and for 120 days after the withdrawal of any file (including when clause 3 is executed by the client).

    3. 10.3 On any withdrawal of a debt by the client where legal action exists, or where the debtor has entered into a repayment arrangement by instalments, or promised payment to either Sliver Shield Capital or the client (even if the promised payments have not been received). Commission shall apply immediately as if the debt were paid in full.

    4. 10.4 Where goods are returned or contra arrangements are made. Commission applies as if the debt were paid in full.

    5. 10.5 Where the client raises a credit against the debt or advises it was paid before placement or on the day of placement with Sliver Shield Capital. Commission will apply on the value of the credit or payment.

    6. 10.6 Where a client withdraws a file claiming it should never have been placed with Sliver Shield Capital. Commission shall apply on the full sum of the debt but at the discretion of Sliver Shield Capital.

  11. 11. Minimum commission amounts outlined in the proposal are applied to the value of each payment received.

  12. 12. Sliver Shield Capital shall continue all collection efforts without referral to the client except for any action that requires the payment of a fee (save for commission, joining fee, handling fees, age fees, subscriptions, letter or telephone fees, on-line location fees or new address fees – these fees may be billed to the client without referral to the them).

  13. 13. Sliver Shield Capital shall never commence legal action against a debtor without client approval, such approval may be verbal.

  14. 14. Sliver Shield Capital shall always have the right to close any file for any reason at any time without notice to the client.

  15. 15. Sliver Shield Capital shall always retain the right to contact any client’s debtor at any time; even after file closure or withdrawal.

  16. 16. Any overseas client must remit payment to Sliver Shield Capital in the US Dollars in full. Any shortfall due to currency fluctuations and / or any bank fees incurred by Silver Shield Capital shall be the responsibility of the client.

  17. 17. Sliver Shield Capital, its agents or solicitors shall have the right without notice to the client to cease action (including legal action) and/or close files if Sliver Shield Capital’s statement of account is overdue. File reinstatement shall be solely at the discretion of Sliver Shield Capital.

  18. 18. Sliver Shield Capital shall have the right to deduct any money owed to it by the client from any money it holds on behalf of the client. This clause may be overturned with the permission of Sliver Shield Capital but will unconditionally apply if the clients account is overdue.

  19. 19. Sliver Shield Capital shall have the right to request pre-payment of any fees or legal costs at any time for any reason.

  20. 20. Jurisdiction for this agreement shall always be in the State of New York.

  21. 21. The client agrees that receipt of this agreement by Sliver Shield Capital by internet application, or internet acceptance tick, or by facsimile or by email shall at all times constitute a legally binding agreement on it and any court or tribunal.

  22. 22. The client confirms that Sliver Shield Capital will not provide copies of demand letters used in the collection process

  23. 23. An owner or director of the client or any other person who signs and enters into this agreement shall be liable jointly and severally with the client for payment of all money due to Sliver Shield Capital, its agents or solicitors.

  24. 24. The client provides Sliver Shield Capital with an on-going and irrevocable authority to endorse payments Sliver Shield Capital receives that are made payable to the client, so that Sliver Shield Capital may then deposit those funds into the Sliver Shield Capital account nominated in the clause above.

  25. 25. The client and its owners or directors indemnify Sliver Shield Capital in respect of any and all demands, claims, actions, proceedings, suits or court rulings brought against Sliver Shield Capital, whether in law or equity, with respect to this agreement.

  26. 26. If any clause or part clause of this agreement is deemed invalid or unlawful the balance of the agreement shall still be deemed as lawful and to hold full effect.

  27. 27. The client gives authority for Sliver Shield Capital to undertake credit inquiries on it with any credit reporting agencies and to obtain or provide personal and company information to or from other credit providers.

  28. 28. The client agrees that they will be responsible for all collection costs, including commission fees, relating to the collection of any overdue account owed by the client to Sliver Shield Capital.

  29. 29. The client agrees that if any part of a debt owed to Sliver Shield Capital is overdue then all of its debt will be deemed as overdue.

  30. 30. All subrogation, litigation, or legal action against Silver Shied Capital must be filed in New York County in the State of New York.  By executing this agreement, the client waives any and all rights to litigate elsewhere.