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Forwarders Debt Recovery Services

Updated January 2017

Terms and Conditions of account assignment to FDRS

  • Forwarders Debt Recovery Services (FDRS) accepts accounts related to the forwarder/freight community for collection

  • FDRS will only accept for collection amounts over USD 1,000 or equivalent in other currencies

  • The Client will assign the case solely to FDRS for a minimum period of one hundred and twenty (120) days after which time the Client may withdraw the case upon written notification to do so. If any other party is involved in the collection activity we will close the matter and cease all action

  • The Client guarantees that any claim against an assigned party is accurate and lawful in all respects and that all supporting documents forwarded to FDRS are true and accurate and expressly authorise FDRS to use any/all of those documents in the pursuit of collecting the claims from the debtor

    • Please note - FDRS assumes that your express permission is given for any supporting documentation so supplied to be on-forwarded to the debtor in support of the claim

  • FDRS will pursue recourse pursuant to the documents as supplied by the Client

  • In the event that legal action is necessary, and upon the express written authority of the Client, a local legal representative versed in forwarder/freight community law will be selected by FDRS and will be deemed as an agent of FDRS

  • If the matter does proceed to involvement of local legal representation (pre-court) then the client will assign the case for a further one hundred and twenty (120) days from date of such assignment

    • Please note - Pre-court means commencing legal action, without involving a court

  • The Client expressly authorises FDRS and/or their agent to appropriately endorse for deposit and collection any remittances received from the debtor, and to deduct therefrom its lawful fee(s)

  • In the circumstance that the debtor pays the assigned outstanding debt to the Client directly after the signing of the FDRS Collection Agency Agreement and/or the assignment of a Case to FDRS, then FDRS shall invoice the due commission to the Client and the Client agrees to pay this invoice within seven days after receipt

  • If the claim against the debtor shall be settled in a form that is different from a standard financial settlement (e.g. balancing of accounts, offset payment against other work(s) performed by the debtor, etc.) then the Client shall pay the collection service fee to FDRS in money

  • Should a Client have any special requests, the Client must advise FDRS in writing at the time of account assignment

 
 
FDRS has legal representative offices in more than 165 countries worldwide

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