Daniels Silverman Terms and Conditions

1. We work on a “no collection – no fee” basis for pre-legal debt recovery and charge commission plus vat on the amount of debt actually collected irrespective of the value of the initial debt referred to us for collection. “Collected” means part or all of the debt is recovered from your customer, or from a third party on their behalf, either direct to you, us, or a third party for your benefit, after the date the matter was referred to us. It also includes the resale value of goods being returned to you, where you accept the return of goods in lieu of payment. Whilst all our communications stress payment should be made to us, if a debt is paid to you, you agree to inform us of the amount received immediately on receipt. We will then invoice you the commission payable plus vat which is payable within 30 days of collection. We reserve the right to charge interest on overdue invoices at the rate of four per cent per annum above HSBC Bank’s base rate.

2. We aim to deduct our commission from any payments received by us from the debtor. We will add the amount of commission we charge to the amount of the debt we seek to recover together with the statutory debt recovery costs if allowed either under your terms and conditions of business or under the Late Payment of Commercial Debts Regulations 2013 (currently £40 for debts under £1000, £70 for debts between £1000 and £10,000 and £100 for debts over £10,000).

3. To assist us you hereby agree that we are entitled to authorise and request any third party (for example a debtor’s solicitor, representative or debt management company) to deal with us rather than you, and make payments due in respect of the debt to us. We will not accept any reduced offer in settlement of the debt without your written confirmation.

4. Where our standard collection methods are unsuccessful, we can offer you - without obligation - additional services such as external tracing or legal action through the courts. You do not have to take up any additional services, and you would never incur any fees for such services unless you instruct us to do so in writing. If you do instruct us, you agree you will pay the charges at the prevailing rate. If you don’t instruct us, and we think that there is no alternative option, we can deem the matter closed and take no further action.

5. Whilst we will work really hard to secure a successful recovery for you on every case , we cannot give any guarantee we will successfully recover any particular debt on your behalf. We will advise you of progress throughout and the steps taken to secure payment.

6. Should a case be withdrawn as it has been paid prior to our instruction or sent in error we will charge a revoke fee of £19.95 plus vat. If a case is withdrawn for whatever reason on which there is a payment plan in place or we are negotiating a payment plan under which the first payment will be due within 45 days we will charge you commission on the full account value. On all other cases you have the right to withdraw at any time after 180 days with no additional charge being made.

7. As we are not solicitors we do not give professional advice, and information we provide should not be treated as a full and authoritative statement of the law. We cannot be responsible for the incorrect provision of legal information, or any problems caused by third parties (including any court, agent of ours or the postal service). Any liability of ours to you is expressly limited to either £50,000 or the amount of the debt you referred to us (whichever is the lower sum).

ANY DEBTS REFERRED TO DANIELS SILVERMAN LIMITED FOR COLLECTION WILL BE SUBJECT TO THE ABOVE TERMS.