ASSIGNMENT OF A CLAIM FOR COLLECTION



ASSIGNMENT OF A CLAIM FOR COLLECTION

This Assignment is made by and between______________________

____________("Assignor"), located at_____________________________

___________, and__________________________("Assignee"), located at

__________________________________________, subject to the

following terms and conditions:

Section 1. Intent of the Assignment. In consideration of the

Assignee's acceptance of this claim for collection, the Assignor

sells, assigns, and transfers to the Assignee full authority to

perform all lawful acts to collect this claim.

Section 2. Debtor Information.

Name of the debtor:

Name of the debtor's spouse:

Telephone number:

Current address:

Debtor's occupation:

Debtor's employer:

Employer's address:

Debtor's social security number:

Amount owed: $

Date of last payment:

Date of last charge:

Additional remarks:

Section 3. Exclusive Right. This assignment is a sole and an

exclusive right to collect on the claim listed above. The Assignor

warrants that no other assignment governing the collection of this

claim has been made.

Section 4. Compromise of Claim. The Assignee is authorized

to compromise this claim for_____________________________________.

Section 5. Commission. The Assignee shall receive_________

__________percent (_____%) commission on all money paid on account

of this claim to the Assignee, its agents or to the Assignor after

the execution of this Assignment.

Section 6. Direct Payments. Should the debtor make any

payments on this claim directly to the Assignor, the Assignee shall

be entitled to its commission on these amounts and may deduct the

commission from any other money due the Assignor from collections

made by the Assignee.

Section 7. Withdrawal of the Claim. The Assignor may have

the claim withdrawn from collection by giving the Assignee_________

__________(_____) days' notice of that order for withdrawal. Upon

withdrawal of the claim, the Assignor shall be compensated for

services extended in collecting that claim in the amount of________

____________________.

Section 8. Governing Law

The laws of the State of _______________ shall govern this Agreement   

 

Section 9. Attorney's Fees

Should any action be commenced between the parties to this Agreement concerning the matters set forth in this Agreement or the rights and duties of either in relation thereto, the prevailing party in such action shall be entitled, in addition to such other relief as may be granted, to a reasonable sum as and for its Attorney's Fees and Cost.

 

Section 10. Arbitration and Venue

Any controversy arising out of or relating to this Agreement or any modification or extension thereof, including any claim for damages and/or recession, shall be settled by arbitration in  _____________County,  ______________(state) in accordance with the Commercial Arbitration Rules of the American Arbitration Association before one arbitrator. The arbitrator sitting in any such controversy shall have no power to alter or modify any express provisions of this Agreement or to render any reward which by its terms effects any such alteration, or modification. The parties consent to the jurisdiction of the Superior Court of  _________(state), and of the United States District Court for the  _________ District of  _________(state) for all purposes in connection with such arbitration including the entry of judgment on any award. The parties consent that any process or notice of motion or other application to either of said courts, and any paper in connection with arbitration, may be served by certified mail or the equivalent, return receipt requested, or by personal service or in such manner as may be permissible under the rules of the applicable court or arbitration tribunal, provided a reasonable time for appearance is allowed. The parties further agree that arbitration proceedings must be instituted within one year after the claimed breach occurred, and that such failure to institute arbitration proceedings within such period shall constitute an absolute bar or the institution of any proceedings and a waiver of all claims. This section shall survive the termination of this Agreement.

Section 11. Amendment. Any modification, amendment or change

of this Agreement will be effective only if it is in a writing

signed by both Partners.

Section 12. Headings. The titles to the paragraphs of this

Agreement are solely for the convenience of the Partners and shall

not affect in any way the meaning or interpretation of this

Agreement.

Executed on _____________________, 20___.

ASSIGNOR: ASSIGNEE:

_________________________________ ______________________________

(Signature) (Signature)

_________________________________ ______________________________

(Typed or printed name) (Typed or printed name)

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