Collections Process Clause Samples

Collections Process. 8.1. The Institution has a very strict policy on any outstanding fees or payments, which is to ensure that the fundamentals of financial responsibility and respect toward others, which is taught to our Students, can be seen to be put into practice by this Institution, when payment by Parents and Guardians is sought. 8.2. In light of this ideology, any outstanding payments, so outstanding for 30 days, will be handed over to Debt Collectors/Attorneys for the collection thereof. Parents/Guardians shall be liable for any and all legal costs and permissible interest accrued to such overdue accounts/payments. 8.3. Any outstanding payment(s) will lead to the surety being held personally liable for the full outstanding Tuition Fees not yet paid.

Collections Process. PM AM Corporation shall take full responsibility of collecting all fees, fines and charges of delinquent accounts. PM AM Corporation shall offer multiple payment options to Chula Vista alarm users: • Checks or money-orders • Credit Cards, Debit cards and E-checks via: • Pay via phone using by calling Customer Support Center • On-line, via self-service web portal • Via iPhone/Android app • Via Interactive Voice Response (IVR) over the weekends PM AM Corporation shall partner with ▇▇▇▇▇▇▇▇▇.▇▇▇ and EVO Merchant Services as a payment gateway hosted software application on PM AM Corporation’s server, which shall authorize credit card payments between the self-service website and each credit card processor. Information such as credit card numbers, amount, and customer name shall be encrypted and passed to the credit card processor, who shall process the payment through the Visa/MasterCard network. All payments shall be made in compliance with PCI. All payments received via credit cards, debit cards, e-check shall be posted in real-time with a copy of the confirmation sent to the alarm user immediately. All payments received by checks or money-order shall be posted within 1 to 3 days of receipt. PM AM Corporation shall issue refunds from the alarm program bank account on behalf of the City of Chula Vista for over payments. As a part of its monthly reconciliation, PM AM Corporation shall provide a monthly report online as well as through email to the City staff for all refunds issued. In accordance with the City of Chula Vista Alarm Ordinance Chapter 9.06, failure to pay alarm fines results in 10% basic penalty along with a delinquency charge of 1.5% per month to the alarm user. To maximize the effectiveness on collection accounts, PM AM Corporation shall apply their process-driven comprehensive collections process which includes: • Sending invoices via physical mail (USPS), email and/or mobile strategy • ▇▇▇▇▇▇▇▇ email reminders every week for unpaid invoices past the due date • Automated phone calls on bi-weekly basis • Courtesy phone calls by PM AM staff on bi-weekly basis PM AM Corporation shall employ proactive and reactive skip-tracing procedures to process return mail and track alarm users, in order to clear outstanding balances in a timely fashion. PM AM Corporation shall utilize technology to track Forwarding Address changes to track and reach out to debtors and forward outstanding invoice information to the correct addresses. PM AM Corporation shall int...