Collection Agency Agreement

Williams, Cohen & Gray’s Service (the "Service") is a collection service provided by Williams, Cohen & Gray Inc. ("WCG"), subject to your compliance with the terms and conditions set forth on the following link . Please read this Agreement carefully before accessing or using the Service. By accessing or using the Service, you agree to be bound by the terms and conditions set forth on the following page below. If you do not wish to be bound by these terms and conditions, you may not access or use the Service. If you utilize the Service in a manner inconsistent with these terms and conditions, WCG may terminate your access, block your future access and/or seek such additional relief as the circumstances of your misuse indicate is proper. WCG may modify this Agreement at any time and such modifications shall be effective immediately upon posting of the modified Agreement. You agree to review the Agreement periodically to be aware of such modifications and your continued access or use of the Service shall be deemed your conclusive acceptance of the modified Agreement. Our standard rate will apply to all accounts that use our service and the rates may be found here. http://www.wcgcollects.com/rates2.html, unless you receive a separate agreement signed by an officer of the corporation or an acknowledgement letter stating a lower rate then what is listed on the website. Any oral agreement between WCG and you as the client for a lower rate then agreed will be put into an acknowledgement letter and mailed to you via first-class mail. It is your responsibility to make sure that you agree to this rate prior

Williams, Cohen and Gray, herein referred to as "AGENCY" and ______________, herein referred to as "CLIENT" AGREES that the accounts placed with the AGENCY are subject to the terms and conditions of the following agreement between the said parties:

1.        All accounts placed from Client will be in compliance with Federal, State, and Local Laws and regulations, and will be valid debts owed to client.

2.        Collection activities will be in compliance with Federal, State, and Local Laws and regulations, and be courteous and business like consistent with the image and reputation of the CLIENT.

3.        Collections made by AGENCY on clients' accounts will be deposited immediately into a trust account maintained for clients' disbursements. All collections made by AGENCY on clients' accounts will be remitted to CLIENT less AGENCY collection fee, by the first Friday following the 15^th of the month following collection. Agency will provide such statements which will be descriptive i.e. (Debtors name, amount collected, amount due CLIENT, amount due AGENCY, balance of account).

4.        CLIENT authorizes AGENCY to endorse and deposit in its Trust Account any and all checks, money orders, drafts, cash etc. made payable to or paid to AGENCY for CLIENT on accounts placed with AGENCY.

5.        CLIENT agrees to provide AGENCY with information on all direct payments, adjustments, and disputes within a timely manner, not to exceed 30 days. If this information is not provided to the Agency per FCRA there maybe a fine for any information not provided to the Agency. The Client will be responsible for any and all fines for information not provided to the Agency.

6.        The collection fee on payments made to AGENCY and direct to CLIENT on accounts placed with AGENCY will be _____% on 1st placements and _____% on 2nd. The Client authorizes Agency to settle for _____% of account if this is the only way to collect the account in a timely manner. For Pre-Collect Services there is a Flat Fee of $______, per account. AGENCY requests to add interest to your accounts, as State law provides, and retain 100% of interest collected to offset expenses and supplement lower collection fees.

7.        AGENCY will not initiate any form of legal action without prior written authority from CLIENT. When legal action is authorized, CLIENT will execute a written assignment of the account. Legal action will be brought in the name of AGENCY to further indemnify CLIENT. All legal action accounts will be charged at the rate of ______%.

8.        AGENCY will not be responsible for all legal fees and court costs with reference to accounts placed for collections by CLIENT. The AGENCY will not be obligated to file suit on any account referred by CLIENT. Legal fees and court costs will be retained out of first monies collected.

9.        CLIENT may perform audits of AGENCY from time to time or persons retained by CLIENT, to include a review of collection effort, adequacy of cash controls, promptness of recording and remitting payments, compliance with this agreement and any other normal audit procedures.

10.     CLIENT may withdraw accounts placed in error by CLIENT with AGENCY for collection by written or verbal request. Upon receipt of such request AGENCY will cancel and return said account along with all media pertaining to said account that CLIENT may have provided. AGENCY will retain the right to commissions on paying, settlements, and insurance accounts, unless other arrangements are made with management. This article is not a provision for canceling this contract.

11.     As further consideration for the receipt and handling and collection of accounts by AGENCY, and for the services rendered to CLIENT by AGENCY, the parties agree that each party will assume its own proper responsibility in connection with any claims made by a third party against CLIENT and/or AGENCY. AGENCY being an independent contractor and licensed and bonded is solely responsible for the employment, acts and omissions, control and direction of its employees. If the acts of the employees of AGENCY are the proximate cause of any action brought against CLIENT, AGENCY will assume full responsibility for the defense of said action and payment of any resulting judgment. If the acts of CLIENT or employees etc. are the proximate cause of any action brought against AGENCY by third party, then CLIENT will assume full responsibility for the defense of said action and payment of any judgment.

This agreement will be effective as of date shown and continue in effect until terminated as herein provided. Either party may terminate this agreement by giving the other party thirty (30) days notice by certified mail; however, CLIENT may terminate this agreement immediately in the event AGENCY violates any of the terms or provisions of this agreement. Termination or cancellation of this agreement by either party will not affect the collection enforcement or validity of any accrued obligations owing between parties. Agency will retain commissions on paying accounts, settlements accounts, insurance accounts as well as the right to recover any court costs advanced on said accounts. All accounts returned by Client request may be charged at the rate of 10%each to cover set up costs.

The provisions of this agreement will override any and all contrary or conflicting provisions contained in the past or present agreements. Their duly authorized and empowered representatives enter into this agreement by and between AGENCY and CLIENT on this ____day of _______ 20___.

AGENCY:

Williams, Cohen & Gray
8300 Bissonnet Suite 640
Phone 713-457-0830
BY: Robert Williams
TITLE: Chief Executive Officer                       ___________________________________Robert D Williams II

CLIENT:

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