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Terms and Conditions

Agency Agreement with Prushka Fast Debt Recovery Pty Ltd

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  1. In this Agreement, PRUSHKA FAST DEBT RECOVERY PTY LTD ABN 55 005 962 854, shall be known as Prushka and the party completing one or more Action Forms ("form") shall be known as the PRINCIPAL.

  2. By the act of forwarding one or more forms to PRUSHKA, the PRINCIPAL acknowledges that he has read and agrees to be bound by these Terms and Conditions.

  3. PRUSHKA will on the following Statement Date forward to the PRINCIPAL a sum equivalent to any monies received on behalf of the PRINCIPAL less any commission due, calculated according to prevailing rates, such commission to be calculated on the sum received by PRUSHKA or paid directly by the debtor to the PRINCIPAL. The only deduction shall be bank fees charged on foreign currency payments received.In the event where the PRINCIPAL accepts a reduced lump sum, the commission rate shall be calculated on the applicable rate for the reduced amount and not on the submitted amount. Early release of funds will attract a fee at PRUSHKA'S prevailing rate.

  4. The PRINCIPAL covenants that he will notify PRUSHKA within one working day of a debt referred to in a form or instructions being paid in whole or in part to him whether paid directly by the debtor or on behalf of the debtor and further acknowledges that PRUSHKA shall be entitled to charge commission to the PRINCIPAL on such recovery calculated according to the prevailing rates.

  5. The PRINCIPAL covenants that the details supplied by him are true and correct and include all information relevant to the debt. Should PRUSHKA suffer loss or expense due to misleading, false or insufficient details being supplied by the PRINCIPAL, the PRINCIPAL will indemnify PRUSHKA in full for such loss or expense.

  6. (a) The PRINCIPAL expressly authorises PRUSHKA to perform all acts reasonably necessary to collect a claim on his/her behalf and to instruct Mendelsons Lawyers Pty Ltd ("ML") unless otherwise advised to carry out part or all of the collection process. ML is authorised to request payment of legal costs on legal demand letters sent by it and the cost of such letters shall be borne by the PRINCIPAL but the cost shall be offset by any costs recovered from the PRINCIPAL'S debtors and PRUSHKA shall apply any commission received by it against such liability and to the extent that there is a shortfall, PRUSHKA shall bear the shortfall.

    (b) In the event where the PRINCIPAL has trading terms in place with its Debtor which provide for collection costs to be added to the debt, PRUSHKA shall endeavour to collect the applicable costs but is irrevocably authorised to waive part or all of such costs and commission payable by the PRINCIPAL shall be calculated on the total of the amount recovered and accounted for to the PRINCIPAL and in the event where there is recovery of an amount exceeding the original debt, PRUSHKA is authorized to instruct Mendelsons Lawyers to allocate the excess between legal costs and recovery of commission in such proportion as it directs.

  7. During the time period PRUSHKA is acting for the PRINCIPAL, the PRINCIPAL covenants that PRUSHKA acts on its/their behalf exclusively and the PRINCIPAL shall not negotiate with or contact the debtor or accept less than total payment directly from the debtor. In the event where the PRINCIPAL breaches this clause PRUSHKA shall be entitled to charge commission as if the debt had been paid in full.

  8. Both parties warrant that it will not act in any manner which may besmirch the name and reputation of the other.

  9. PRUSHKA reserves the right to refuse to act as agent against any one or more debtors and may at any time by notice in writing, cease to act for the PRINCIPAL in relation to any one or more debts.

  10. The PRINCIPAL'S instructions to PRUSHKA to recover a debt pursuant to this agreement shall be deemed to have commenced from the date of receipt of a form or instructions by PRUSHKA and should the PRINCIPAL thereafter at any time instruct PRUSHKA whether expressly or by conduct to terminate recovery proceedings for any reason whatsoever PRUSHKA shall be entitled to charge commission from the date of termination regardless of the ultimate outcome of further recovery collection action as if the debt has been paid in full.

  11. In the event where the PRINCIPAL accepts a return of goods, offset or credit in satisfaction of a claim PRUSHKA shall be entitled to charge commission based on the agreed value allowed by the PRINCIPAL to the debtor.

  12. PRUSHKA shall be bound by no covenants, representations or warranties other than those specified in this Agreement.

  13. PRUSHKA shall be entitled to destroy its file and all documents and particulars provided by the PRINCIPAL in relation to any debt referral upon the expiration of thirty days from the date a statement is sent to the principal advising either of the payment of the debt or that PRUSHKA has closed the file and Mendelsons Lawyers shall be entitled to destroy its files on the same basis other than litigation files.

  14. In the event where the PRINCIPAL fails to pay to PRUSHKA the debt balance on the statement forwarded to the PRINCIPAL within 21 days from the date of the statement, PRUSHKA shall be entitled to charge an account keeping fee calculated at its prevailing rate every month in which there is a debt balance outstanding. In addition, the PRINCIPAL shall be liable for all legal costs and disbursements incurred by PRUSHKA arising from the default calculated on the indemnity basis.

  15. These terms may be amended from time to time and the applicable current terms shall be those detailed on the Prushka website and PRUSHKA shall be under no obligation to provide notice whenever there has been a change. Changes made shall relate to all debts submitted by the PRINCIPAL from the date of change.

  16. In the event where the PRINCIPAL does not cash a cheque sent to him within 6 months of the cheque being sent to him by PRUSHKA, the PRINCIPAL authorizes PRUSHKA to cancel the cheque and to transfer an equivalent amount from its trust account and to retain same.

  17. All GST levied by the Commonwealth Government on PRUSHKA'S commission shall be borne by the PRINCIPAL and PRUSHKA shall provide a Tax Invoice.

  18. This Agreement is deemed to be made in the State of Victoria and all disputes hereunder shall be determined by the relevant Victorian Court.

  19. Reference to a party shall include reference where applicable to its heirs, successors in title, executors, administrator, receiver or liquidator.

  20. Prushka shall be entitled to set-off monies due to the PRINCIPAL with monies Prushka reasonably believes are owing by the PRINCIPAL to it.

  21. Pursuant to Rule 7 of the Legal Profession Uniform Legal Practice (Solicitors) Rules 2015 Mendelsons Lawyers Pty Ltd ACN 125 099 701 discloses that it is associated with and shares common ownership with Prushka Fast Debt Recovery Pty Ltd ACN 005 962 854.
  22. Mendelsons Lawyer Pty Ltd is authorised to direct monies recovered from debtors for other than litigation files into Prushka's trust account.