25G - COLLECTION AGENCY SVCS - Laserfiche WebLink

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6. Retain from first monies collected on a legal account, its advanced costs. 7. Remit to City all monies, less commission, by the 20`h day of the month following collection. 8. Provide written acknowledgment of account received from City. 9. Mail first notice to debtor within 24 hours of receipt of placement. 10. Provide City with monthly reports summarizing the activity or all accounts assigned to Consultant, including: a. Total dollar value assigned b. Total dollar value collected c. Percentage collected on total dollar value assigned d. Number of account assigned e. Number of accounts on which payments received f. Number of payments received as a percentage of number of accounts assigned. 11. Allow City to cancel an assigned account at any time for a mistake or an error in assignment. 12. Allow City to audit an assigned account at any time. 13. Maintain a valid Collection License and bonding as required by the State of California, Bureau of Collection and Investigative Services. 14. Provide suggestions on methods to improve collection rates on an ongoing basis. B. City will: 1. Use reasonable care to assign bonafide miscellaneous accounts receivable claims to Consultant. 2. Use its best efforts to verify any disputed amount. 3. Warrant the accounts assigned to Consultant are first placements (no collection agency has attempted to contact the debtor by letter service or otherwise) and understands the commission rates herein are based on this representation. 2. COMPENSATION a. Consultant shall retain commission on all monies collected on assigned accounts as set forth in Section 1, SCOPE OF SERVICES. 3. TERM This Agreement shall commence on July 1, 2009 and terminate on June 30, 2011, unless terminated earlier in accordance with Section 12, below. This Agreement may be extended for up to three additional one-year terms at the option of the City. 25G-4