regarding debt collection by faXin AG
I. General
1. The faXin AG debt collection service handles collection of outstanding receivables.
II. Our services
2. faXin AG handles the collection of outstanding receivables on behalf of the customer.
3. The procedure always commences with a check of the debtor's creditworthiness, for which there is a charge. This check is carried out before the initiation of legally enforceable steps.
4. faXin AG suggests the most cost-effective handling option to the customer. Handling procedures and the flow of information are based on the judgement of faXin AG's debt collection specialists. The type of handling depends on the corresponding order placed by the customer. The options available and scope of service are stated in the corresponding faXin AG production descriptions.
5. Should involvement of a lawyer be required within the scope of the debt collection mandate, then further handling will be carried out on the basis of the terms and conditions for legal action to collect debts. The customer will commission the lawyer directly and carry out legal proceedings at their own cost and risk. faXin AG will obtain the required advance on costs from the customer and provide the customer with an accounting for the outcome of the process. faXin AG monitors deadlines and carries out correspondence.
6. faXin AG is authorized to agree payment in instalments or settlement agreements with the debtor.
7. As a matter of principle, the sums collected are paid out together with the final accounting; in the case of larger sums payments on account may be made. faXin AG reserves the right to offset collected debts against its own credit balance.
8. faXin AG is entitled to hold the sums collected from the debtor during handling of the order placed by the customer in accounts with Swiss banks for the account and at the risk of the customer. faXin AG accepts no liability for the financial solvency of the relevant bank.
9. Loss certificates are handled on a purely success-related basis and at the discretion of faXin AG. faXin AG is not obliged to carry out any action which would interrupt the statute of limitations and accepts no liability should the limitation period expire.
10. faXin AG undertakes to hold the monies received from third parties under the terms of this contract in a separate escrow account and separately from faXin AG monies and to comply with the regulations specified under money laundering legislation.
III. Your obligations
11. The relevant applicable charges apply for management and invoicing of faXin AG debt collection services.
12. faXin AG must be notified without delay regarding any correspondence or verbal agreements between the customer and the debtor or payments received directly by the customer from the debtor.
13. Direct payments, returns of goods, credit notes and withdrawal of the debt collection order without giving reasons will be deemed to be cases of success and thus subject to a commission. The same applies if corresponding procedures have been carried out prior to handing over of the mandate to faXin AG but faXin AG is, however, only subsequently informed of them.
14. faXin AG is authorized to charge the debtor default interest for late payment and, as per the provisions of Art. 106 Swiss Code of Obligations (OR), to assert claims for other damages incurred as a result of late payment. Monies received as per these titles will be assigned to faXin AG to cover administrative costs.
15. The customer will not provide the debtor with a balance statement or issue a final accounting without first contacting faXin AG.
16. Any withdrawal of the order will entitle faXin AG to offset third-party costs paid in advance.
17. Should the customer be in default of payment, then faXin AG will be entitled to charge 8% default interest for late payment. A fee of at least CHF 20 will be charged for every reminder issued.
IV. Concluding provisions
18. For the rest, the debt collection mandate will be subject to the regulations of the Swiss Code of Obligations regarding agency contracts (Art. 394 ff OR).
19. The place of jurisdiction is the domicile of the company carrying out debt collection.
20. These General Terms and Conditions of Business will come into force on 1 January 2021 and replace all previous versions.