Terms and Conditions
Graystone Partners, LLC will attempt to collect your claim(s) under the following agreement:
1. We will comply with all local, state ,and federal laws, and such policies of your company as you may disclose to us.
2. Any remittances will be held in our insured, non-interest bearing trust account, and you authorize us to endorse checks and negotiable instruments for deposit into this account.
3. Our fees and our attorney's fees are contingent on collection at the fee schedule specified. Fees are calculated on gross payment. Interest may be charged from the receivables due date at the allowable interest rate in the state where the debtor receives mail, and may be waived or retained by Graystone Partners, LLC to offset litigation reports, UCC searches, US Postal inquiries, asset searches, investigative reports or other expenses incurred.
4. Your company will advise us immediately of any debtor payments made directly to you, and Graystone Partners LLC will invoice you for the fee for the collection. Return Merchandise will be billed at 1/2 the original rate or 10%, whichever is higher.
5. You will be responsible for any existing and subsequent commissions due on files that are booked with the agency and withdrawn by you. If open files are withdrawn, you agree to compensate the agency for the appropriate commissions for collection.
6. If active files are withdrawn from our agency, your company agree's to pay a cancellation fee of 1/2 of the original placement rate.
7. Graystone Partners will notify you of any lawsuit or claims against you, or Graystone PartnersLLC arising out of our efforts on your behalf, and Graystone Partners LLC will defend and indemnify you against such claims or suits that arise out of our action. You will defend and indemnify Graystone Partners LLC in any such action where cause arises out of erroneous information supplied by you. In any action, you will have the sole right to choose your attorneys.
8. Graystone Partners LLC. has no authority to settle any debt for less than the full amount owing, except under your express permission.
9. Graystone Partners LLC is authorized to refer files to attorneys for collection at its discretion. However, authorization to file suit may come only from you, and you will be required to pay any court costs.