Service Agreement

Service Agreement (Master Agreement)

1. Parties

This Agreement is entered into between:

Credvanta Recovery Group Limited (“Credvanta”) is a company incorporated and registered in England and Wales under company number 17251971, with its registered office at 5 Canon Court, Institute Street, Bolton, BL1 1PZ, England.

For all operational, trading and correspondence purposes, Credvanta conducts business from:
Credvanta Recovery Group Limited
Suite 2/3
48 West George Street
Glasgow
G2 1BP

References in this Agreement to “Credvanta”, “we”, “us” or “our” mean Credvanta Recovery Group Limited.

and

The business entity instructing Credvanta (“Client”).

2. Purpose of Agreement

This Agreement sets out the basis upon which Credvanta will provide commercial debt recovery and related services to the Client.

This Agreement should be read alongside Credvanta’s Terms & Conditions, Privacy Policy, and any service-specific documentation issued by Credvanta.

In the event of any inconsistency between this Service Agreement and the Credvanta Recovery Group Terms & Conditions, the Terms & Conditions shall prevail in relation to operational procedures, payment processing, reconciliation, settlement, fees and commissions.

3. Services

Credvanta may provide:

• Commercial debt recovery services;
• Pre-legal collections;
• Letter Before Action services;
• Debtor communication services;
• Trace & locate services;
• Field visit services;
• Negotiation of payment arrangements;
• Collection and administration of debtor payments on behalf of the Client using Credvanta’s payment processing facilities and Client Money Account in accordance with Credvanta’s Terms & Conditions; and
• Referral to third-party legal representatives where required.

Credvanta acts strictly as a debt recovery agent only.

4. Commercial Debts Only

The Client acknowledges and agrees that:

• Credvanta provides recovery services for commercial/business debts only;
• Credvanta does not undertake regulated consumer debt collection activity;
• Credvanta is not authorised or regulated by the Financial Conduct Authority (FCA).

The Client agrees not to submit consumer-regulated debts to Credvanta.

5. Client Responsibilities

The Client agrees to:

• Provide accurate and complete information;
• Provide supporting documentation when requested;
• Ensure all instructed debts are legally recoverable;
• Notify Credvanta immediately of any direct payments or disputes;
• Cooperate with reasonable requests during recovery activity.

The Client remains solely responsible for the legal validity of all instructed debts.

6. Fees & Payment

Fees, commissions, payment terms and settlement procedures shall be governed by Credvanta’s current Terms & Conditions unless otherwise agreed in writing.

Credvanta reserves the right to suspend or terminate services where invoices remain unpaid or where the Client is otherwise in breach of its payment obligations.

The Client acknowledges that Credvanta is authorised to collect and administer debtor payments on the Client’s behalf using Credvanta’s payment processing facilities and Client Money Account in accordance with the authority granted under the Terms & Conditions.

Recovered monies shall be reconciled, accounted for and remitted to the Client in accordance with the reconciliation and settlement procedures set out in Credvanta’s Terms & Conditions.

The Client further acknowledges that Credvanta is contractually entitled to deduct commissions, agreed fees, disbursements, the minimum monthly usage fee where applicable, and any other sums due under the Terms & Conditions before remitting the Net Recovery to the Client.

The Client agrees that all payment processing, reconciliation, settlement and accounting procedures shall be governed exclusively by Credvanta’s Terms & Conditions as amended from time to time.

7. Data Protection

Both parties agree to comply with all applicable UK data protection legislation including UK GDPR and the Data Protection Act 2018.

The Client confirms it has lawful authority to share all data submitted to Credvanta.

8. Liability

Credvanta provides services on a reasonable endeavours basis only and does not guarantee recovery outcomes.

Credvanta’s liability shall be limited in accordance with its Terms & Conditions.

9. Termination

Either party may terminate this Agreement at any time upon written notice.

Termination shall not affect:

• Outstanding fees owed to Credvanta;
• Commission entitlement on instructed Cases;
• Credvanta’s right to complete the reconciliation, deduction and settlement of monies received prior to the effective date of termination;
• Any outstanding payment obligations of either party; or
• Ongoing obligations relating to confidentiality, data protection or indemnity.

10. Governing Law

This Agreement shall be governed by the laws of Scotland.

Any disputes shall be subject to the exclusive jurisdiction of the Scottish courts.