Collection Agreement

Terms of Agreement between your business (Subscriber / Creditor) and Newman & Kane, 8303 Southwest Freeway, Houston, TX 77074.

Serving you, Newman & Kane provides all services to creatively and professionally pursue recovery of bad debts you electively submit by assignment. Litigation service is available at your discretion.

1.	Method of Placement - Creditor may place accounts for collection with Newman & Kane by any means convenient to the Creditor. These Terms and Conditions shall apply to all future placements by Creditor regardless of method of account submission. Any other signed agreements with Newman & Kane supersede this agreement.
2.	Fees - All services provided by Newman & Kane. are subject to Newman & Kane's regular rate schedule, which may be amended from time to time by Newman & Kane. Invoices for services rendered by Newman & Kane are due upon receipt. Creditor shall incur a late fee of one and one-half percent per month on any unpaid amounts, and agrees to pay all reasonable costs of collection including court costs and attorney fees. Standard fee rates are as follows: 20% of the amount collected for amounts from 0 to 90 days from date of invoice. 25% of the amount collected for amounts from 91 to 180 days from date of invoice. 33% of the amount collected for amounts from 181 days to 1 year from date of invoice. 50% of the amount collected for amounts 1 + years from date of invoice.
3.	Offset - Should Creditor fail to pay Newman & Kane sums due, Newman & Kane has the right to offset any monies due Newman & Kane against any monies due Creditor in addition to any other remedies provided by law.
4.	Commercial Claim - Creditor represents and warrants that the Creditor's claim arises out of a commercial account (a claim against a corporation, partnership or proprietorship conducted as a business venture) and that the claim is valid and lawful in all respects.
5.	Information - Creditor consents to Newman & Kane's use of any information supplied by Creditor and warrants and represents to Newman & Kane the truth and accuracy of such information. Creditor authorizes Newman & Kane to release information concerning the existence of Creditor's claim to credit reporting agencies.
6.	Attorney Involvement - Creditor can authorize Newman & Kane, if necessary, to forward accounts on Creditor's behalf, to attorneys for collection. On those accounts, the attorneys are the agent of the Creditor and subject at all times to the Creditor's direction and control. Newman & Kane shall not be responsible for the acts or omissions of such attorneys.
7.	Hold Harmless - Creditor shall defend, indemnify and hold harmless Newman & Kane, its agents and employees, from and against any and all liability, loss, claims, demands, suits, actions, damages or expenses (including reasonable attorneys' fees) of every nature or description arising out of or resulting from any of the following: (a) any amendments to the rate schedule of services provided to Creditor by Newman & Kane; (b) the truth and accuracy of the information provided by Creditor; (c) the validity and lawfulness of Creditor's claim against the Debtor; (d) the Creditor's claim arising out of a non-commercial account; (e) any acts, omissions or claims of any attorney relating to any account forwarded by Newman & Kane on Creditor's behalf for collection.
8.	Endorsement Authorization - Creditor authorizes Newman & Kane to endorse in the name of the creditor and deposit in its escrow account any and all remittances in any form payable or endorsed to Creditor, which come into the possession of Newman & Kane while performing services for Creditor. Creditor authorizes Newman & Kane to deduct Newman & Kane's fees from these payments. Additionally, Newman & Kane will be entitled to a commission on all pay directs, merchandise returns or on accounts withdrawn pending collection.
9.	Withdrawal - Creditor has the right to withdraw an account at any time. Newman & Kane reserves the right to charge a 10% fee for any account that is withdrawn pending collection. If attorney involvement was initiated, the attorney may assess an additional fee.
10.	Amendments - Newman & Kane may amend the Terms and Conditions by providing Creditor with written notification.