Common use of Payment Rules Clause in Contracts

Payment Rules. The following Payment Rules apply: (a) If the Client refers a Debt Amount to BCA Debt for recovery and payment is at any time made to the Client, BCA Debt or a third party, the Commission and Fees payable by the Client to BCA Debt shall be calculated in accordance with Items 4 or 5 of the Reference Schedule, as applicable. (b) If the Client refers a Debt Amount to BCA Debt for recovery and the debtor is entitled to a reduction on the Debt Amount and: (i) if the amount of the reduction is equal to or exceeds the Debt Amount, the Commission and Fees payable by the Client to BCA Debt shall be calculated in accordance with Item 4 or 5 of the Reference Schedule on the full Debt Amount; or (ii) if the total of the reduction is less than the Debt Amount, the Commission and Fees payable by the Client to BCA Debt shall be calculated in accordance with Item 4 or 5 of the Reference Schedule on the full Debt Amount. (c) If the Client have referred a Debt Amount to BCA Debt for recovery and the Client have settled with the debtor (a Settlement), the Commission and Fees payable by the Client to BCA Debt shall be calculated in accordance with Item 4 or 5 of the Reference Schedule on the full Debt Amount. (d) If the Client accepts goods in lieu of payment from the debtor, the Commission and Fees payable by the Client to BCA Debt shall be calculated in accordance with Item 4 or 5 of the Reference Schedule on the full Debt Amount. (e) If the Client becomes aware that their debtor has paid the full Debt Amount prior to referring the matter to BCA Debt, the Commission and Fees payable by the Client to BCA Debt shall be calculated in accordance with Item 4 or 5 of the Reference Schedule on the full Debt Amount. (f) If the Client is aware that the debtor is bankrupt at the time the Client referred the matter to BCA Debt, the Commission and Fees payable by the Client to BCA Debt shall be calculated in accordance with Item 4 or 5 of the Reference Schedule on the full Debt Amount. (g) If BCA Debt elects to lodge a Client’s debtor’s details on any credit reporting agency as a mercantile enquiry and five (5) years lapses, the Client agrees to pay BCA Debt the Commission and Fees calculated in accordance with Item 4 or 5 of the Reference Schedule on the Full Debt Amount. (h) In the event that any case handled by BCA Debt for collection is discontinued in any way, including but not exclusive to the process being compromised, within 12 months of the debt being referred to BCA Debt by the Client, the Client Agrees that the full Commission and Fees calculated in accordance with Items 4 or 5 of the Reference Schedule apply. A debt is deemed compromised when a Client interferes with BCA Debt’s ability to collect a Debt Amount through their normal processes and procedures. (i) The Payment Rules and BCA Debt’s right to recover unpaid Commission and Fees as a debt due and owing from the Client shall survive the termination of this Agreement and/or withdrawal of your instructions.