1. The following Terms & Conditions are the only Terms & Conditions, which NIDR Ltd contracts with the party whose name and address appear overleaf (hereinafter called ‘the client’)
2. The Terms and Conditions of this agreement shall not be varied
3. In consideration of:-
3.1 The payments of the contract price as detailed overleaf and subject to strictly the terms and conditions herein NIDR Ltd, its servants or agents, shall provide a debt recovery service for the period stated overleaf but not exceeding one year., or
3.2 The payment of the Subscription fee as detailed overleaf and subject to strictly the terms and conditions of NIDR Ltd its servants or agents shall provide a recovery service in relation to the individual debt as described and fully detailed within the recovery demand completed by the client, if there is more than one debtor and completed recovery demand then this will be marked as a multiple case contract internally.
4. The service provided shall commence immediately upon the signing of this contract and the subscription fee must be credited immediately to NIDR Ltd as cleared funds.
5. For the purpose of this contract not being a yearly service we shall undertake your debt for a 120 day period if by this time there have been no collections we will at our upmost discretion have the right to extend the contract at no further cost to our client.
6. NIDR Ltd Is under no obligation to provide interim written reports. We will provide updates on the case where an update is required to be given.
7. NIDR Ltd expressly excludes liability whatsoever arising for any delay in the provision of service where:-
7.1 The full and precise details of the debt and any other information pertaining to the debt have not been and/or are not able to provide to its servants or agents by the client whether expressly requested or otherwise:- or
7.2 Documents and/or letters issued are delayed and/or destroyed in circumstances beyond the control of NIDR Ltd its servants or agents:- or
7.3 The individual or company named as debtors in bankruptcy, liquidation or receivership, or any insolvency proceedings as defined by and/or pursuant to the insolvency act 1986, or any amendments to the act or subsequent act of parliament are reasonably believed to be immediately pending.
8. NIDR Ltd shall be under no further obligation to the client in respect of any debt placed for recovery with NIDR Ltd and pursuant to this agreement where:-
8.1 The debt has been paid to NIDR Ltd and account made to the client, its servants or agents, pursuant to the terms and conditions here under:-
8.2 The debt has previously been or is subject to court proceedings and/or commencement of the litigation process has been made pursuant to such proceedings:- or
8.3 The service to be provided by NIDR Ltd, its servants or agents has been exhausted., or
8.4 The client, its servants, has failed to respond to reasonable requests and/or correspondence from NIDR Ltd, its servants or agents; or
8.5 The debtor is / or becomes subject to the actions described under clause 7.3; or
8.6 In the opinion of NIDR Ltd its servants or agents there exists no reasonable prospect of discharging the civil burden of proof within the courts of England and Wales, or Scotland for this reason the debt is deemed such that there is no reasonable prospect of recovery; or the expiry of the term of this agreement
8.7 Expressly exclude any liability for the set-of and/or counterclaim arising from any action and / proceedings to recover the contracting parties debt
9. NIDR Ltd expressly exclude any liability for any cost arising; incurred or awarded as a result of the attempts of NIDR Ltd to recover the debt owed to the contracting party.
10. Should circumstances negate, or the debtors’s whereabouts prove insuperable, or in the event of the debtor not being, for legal reasons, able to underwrite the debt a written report outlining events in relation to the above will be issued to the client if so the client request, and will conclude this contract, NIDR Ltd will not be held responsible/liable for such events.
11. From time to time NIDR Ltd may, in the pursuit of debt, recommend formal legal proceedings to be taken. In such circumstances, NIDR Ltd would offer to the client, an introduction to our company solicitors, or if expressly instructed by our client we would liaise with our company solicitors on the behalf of our client.
11.1 Should the client (or NIDR Ltd upon the clients’ behalf) provide our company solicitors with instruction to act upon their behalf all costs, fees, disbursements and other associate will be subject to agreements between the clients and our company solicitors. NIDR Ltd are not authorised to agree, vary or negotiate costs levied by our company solicitors upon the client during the course of their conduct if any matter referred. NIDR Ltd does not accept liability or responsibility in connection with the conduct of our company solicitors in respect of the clients’ instructions.
11.2 Any monies recovered or secured upon the clients behalf from the date of provision of instruction by the client (or NIDR Ltd on the clients behalf) to our company solicitors will be subject to a commission charge by NIDR Ltd at a rate equal to the rate agreed between NIDR Ltd and the client at the time of first instruction, or any subsequent written rate variation as notified by NIDR Ltd to the client. The client agrees that our company solicitors will account to NIDR Ltd in respect of any monies recovered.
Receipts & Payments
12. NIDR Ltd shall under no circumstances become a party to any agreement howsoever made, reached or created between the client, its servants or agents, and any debtor / or third party, its servants or agents.
13. NIDR Limited shall charge a commission rate set at 15% of all monies recovered unless stated differently overleaf.
14. The client, its servants or agents hereby agrees to provide to NIDR Ltd, its servants or agents, at its registered office address written notice of receipt of monies pursuant to debts placed with NIDR Ltd for collection and subject to the terms and conditions here under and receive directly by the contracting party, its servants or agents, with seven days of receipt of such monies being received.
15. The contracting party hereby agrees to pay NIDR Ltd costs, interest and agreed commission and V.A.T. thereon, at a rate set by parliament from time to time prevailing on monies received by the contracting party.
16. Any sums paid to the client directly to the client from the date of this contract will be deemed a collection and therefore our commission will be charged and will be immediately payable.
17. NIDR Ltd reserve the absolute right and discretion to place funds into accounts, as it thinks fit for the purpose of holding such monies where the client consents to a debtors request to discharge sums due by way of an instalment arrangement, fees and/or commissions due to NIDR Ltd will also be charged up to the aggregate value of the total instalments agreed in accordance with the current rates agreed between the client and NIDR Ltd and all such charges, will be subject to V.A.T. Payment will become due from the client upon receipt of the first instalment from the debtor.
18. Where a debtor defaults upon an agreed instalment NIDR Ltd will endeavour to recover the balance of the sums due. In the event of which, the client will not be entitled to any refund of commissions or fees, whether NIDR Ltd are successful in securing the balance of monies due or not.
19. English Law shall govern the construction, performance and validity of these terms and conditions and of any contract between NIDR Ltd and the client. NIDR Ltd and the client shall submit to the jurisdiction of the English Courts, as NIDR Ltd shall in its sole discretion direct.
20. NIDR Ltd will not discuss any part of your agreement with any third party and therefore this contract is bound as a Non Disclosure Agreement (NDA). Both parties agree that no part of this contract is to be discussed with any other party. No part of this contract is to be discussed within the public domain either during or after the contract has expired, this includes online forums, within social media and online review sites without the express permission of NIDR Ltd under The General Data Protection Regulation (GDPR). Any breaches of this NDA will result in immediate injunctive relief.