Conditions of Engagement
Waterstone Recovery Agreement
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CONDITIONS OF ENGAGEMENT FOR PROFESSIONAL SERVICES
1. DEFINITIONS
1.1 "Waterstone Recovery" shall mean Waterstone Recovery Limited, or any agents or employees thereof.
1.2 "Client" shall mean the Client, any person acting on behalf of and with the authority of the Client, or any person purchasing services from Waterstone Recovery.
1.3 "Services" shall mean all services provided by Waterstone Recovery to the Client and shall include without limitation the provision of debt collection/enforcement, recovery services, service charges, or any fee or charge associated with the supply of services by Waterstone Recovery to the Client.
1.4 "Price" shall mean the cost of services as agreed between Waterstone Recovery and the Client subject to clause 3 of this contract.
2. ACCEPTANCE
2.1 Any instructions received by Waterstone Recovery from the Client for the supply of services shall constitute acceptance of the terms and conditions contained herein.
2.2 Waterstone Recovery will make every endeavour to attend to your affairs and provide efficient and professional service.
3. PRICE
3.1 Where no price is stated in writing or agreed to orally the services shall be deemed to be sold at the current amount as such services are sold or provided by Waterstone Recovery at the time the services are requested.
3.2 The price may be increased by the amount of any reasonable increase in the cost of supply of the services that is beyond the control of Waterstone Recovery between the date of the contract and providing of the services.
4. PAYMENT
4.1 Payment for services shall be made in full on the 20th of the month following the date of the invoice.
4.2 Receipt of a cheque, Bill of Exchange, or other negotiable instrument shall not constitute payment until such negotiable instrument is paid in full.
4.3 Interest may be charged on any amount owing after the due date at the rate of 2.5% per month until payment has been made in full.
4.4 Any expenses, disbursements and legal costs incurred by Waterstone Recovery in the enforcement of any rights contained in this contract shall be paid by the Client, including any solicitor's fees or debt collection agency fees.
4.5 Waterstone Recovery's debt collection service is provided by Waterstone Recovery to its Clients. Waterstone Recovery fees are, at all times, invoiced to the Client. If the Client's terms of engagement make its debtor liable for debt collection costs then Waterstone Recovery may increase the original amount of the debt owed by the debtor to the Client by the amount of our fees. It does not create a debt between Waterstone Recovery and the debtor.
4.6 If, for whatever reason, the debtor pays the original amount of the debt but is unwilling to pay the Waterstone Recovery fees, Waterstone Recovery will, if the amount is paid to Waterstone Recovery, deduct its fees from the amount collected and remit the balance to the Client, or if the amount is paid directly to the Client, Waterstone Recovery will invoice the Client for its fees.
4.7 If, for whatever reason, the debtor pays part of the original amount of the debt, Waterstone Recovery's debt collection fees will be charged as a percentage of the amount recovered, and the debt lodgement fee and any other service fees agreed to by the Client will be invoiced to and payable by the Client.
4.8 Waterstone Recovery will always endeavour to recover the original amount of the debt and its fees from the debtor.
 
5. COPYRIGHT
5.1 Waterstone Recovery retains copyright of all intellectual property prepared by Waterstone Recovery. The Client shall be entitled to use them or copy them only for the works and the purpose for which they are intended. The ownership of data and factual information collected Waterstone Recovery and paid for by the Client shall, after payment by the Client, lie with the Client. The Client shall have no right to use any of these documents where any or all of the fees and expenses payable to Waterstone Recovery have not been paid in accordance with this agreement.
6. DISPUTES
6.1 No claim relating to delivery of services shall be considered unless made within seven (7) days of the invoice date.
7. LIMITATION OF LIABILITY
7.1 The Client shall indemnify Waterstone Recovery against all claims of any kind whatsoever arising as a result of this agreement, except in the event of (1) a breach by Waterstone Recovery or any employee of Waterstone Recovery of this contract and/or (2) Waterstone Recovery's or any employee of Waterstone Recovery's negligence, gross negligence or fraudulent intent.
7.2 Waterstone Recovery shall not be liable for any loss or damage arising totally or partially from the Client's failure to disclose all information pertinent to the successful execution of services.
8. CONSUMER GUARANTEES ACT
8.1 The guarantees contained in the Consumer Guarantees Act 1993 are excluded where the Client acquires goods or services from Waterstone Recovery for the purposes of a business in terms of Section 2 and 43 of that Act.
9. CANCELLATION
9.1 Waterstone Recovery shall, without any liability, and without any prejudice to any other right it has in law or equity, have the right by notice to suspend or cancel in whole or in part any contract for the supply of services to the Client if the Client fails to pay any money owing after the due date or the Client commits an act of bankruptcy, insolvency, liquidation, receivership or voluntary administration.
9.2 Waterstone Recovery reserves the right to charge a cancellation fee limited to 5% of the outstanding balance of any debt, if the Client at any time, terminates or withdraws its collection instructions.
9.3 Notwithstanding the termination of this agreement the Client shall remain liable to pay all outstanding charges owing to Waterstone Recovery which have been incurred by the Client prior to termination.
10. MISCELLANEOUS
10.1 The Client shall not assign all or any of its rights or obligations under this contract without the written consent of Waterstone Recovery.
10.2 Failure by Waterstone Recovery to enforce any of the terms and conditions contained in this contract shall not be deemed to be a waiver of any of the rights or obligations Waterstone Recovery has under this contract.
10.3 The law of New Zealand shall apply to this contract except to the extent expressly negatived or varied by this contract.
10.4 Where the terms of this contract are at variance with the order or instruction from the Client, this contract shall prevail.
10.5 If any provision of this contract shall be invalid, void or illegal or unenforceable the validity existence, legality and enforceability of the remaining provisions shall not be affected, prejudiced or impaired.
10.6 Any dispute between the parties is to be dealt with in accordance with the Arbitration Act 1996.
The Client further authorises WATERSTONE RECOVERY to make contact in relation to any other matter that may arise in the future
Authority by client for credit checks
 The Client, whether individual or corporate, hereby authorizes WATERSTONE RECOVERY to undertake credit check/s at any time by any means whatsoever on the client
Acknowledgement of Terms
The Client hereby acknowledges that he/she has read and understood the terms of enegagement set out above.
 I agree to the terms of engagement
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