Terms and Conditions of Agency Agreement with
Prushka Fast Debt Recovery Pty Ltd

1. In this Agreement, PRUSHKA FAST DEBT RECOVERY PTY LTD ABN 55 005 962 854, shall be known as Prushka and the party completing one or more Action Forms ("form") shall be known as the PRINCIPAL.

2. By the act of forwarding one or more forms to PRUSHKA, the PRINCIPAL acknowledges that he has read and agrees to be bound by these Terms and Conditions.

3. PRUSHKA will on the following Statement Date forward to the PRINCIPAL a sum equivalent to any monies received on behalf of the PRINCIPAL less any commission due, calculated according to prevailing rates, such commission to be calculated on the sum received by PRUSHKA or paid directly by the debtor to the PRINCIPAL.

4. The PRINCIPAL covenants that he will notify PRUSHKA within one working day of a debt referred to in a form being paid in whole or in part to him whether paid directly by the debtor or on behalf of the debtor and further acknowledges that PRUSHKA shall be entitled to charge commission to the PRINCIPAL on such recovery calculated according to the prevailing rates.

5. The PRINCIPAL covenants that the details supplied by him are true and correct and include all information relevant to the debt. Should PRUSHKA suffer loss or expense due to misleading, false or insufficient details being supplied by the PRINCIPAL, the PRINCIPAL will indemnify PRUSHKA in full for such loss or expense.

6. The PRINCIPAL expressly authorises PRUSHKA to perform all acts reasonable necessary to recovery a claim on his/her behalf including legal and enforcement action. In the event where PRUSHKA initiates legal action, it shall do so at its cost provided that it shall be entitled to deduct from monies recovered from the debtor the scale legal costs and disbursements incurred and in the event where the legal costs and disbursements exceed the recovery PRUSHKA shall bear the excess.

7. During the time period PRUSHKA is acting for the PRINCIPAL, the PRINCIPAL covenants that PRUSHKA acts on its/their behalf exclusively and the PRINCIPAL shall not negotiate with or contact the debtor or accept less than total payment directly from the debtor.

8. PRUSHKA warrants that it will not act in any manner which may besmirch the PRINCIPAL'S name and reputation.

9. PRUSHKA reserves the right to refuse to act as agent against any one or more debtors and may at any time by notice in writing, cease to act for the PRINCIPAL in relation to any one or more debts.

10. The PRINCIPAL'S instructions to PRUSHKA to recover a debt pursuant to this Agreement shall be deemed to have commenced from the date of receipt of a form or instructions by PRUSHKA and should the PRINCIPAL thereafter at any time instruct PRUSHKA whether expressly or by conduct to terminate recovery proceedings for any reason whatsoever PRUSHKA shall be entitled to charge commission from the date of termination regardless of the ultimate outcome of further recovery action as if the debt has been paid in full.

11. PRUSHKA shall be entitled to vary these Terms and Conditions at any time upon the giving of one month’s notice in writing to the PRINCIPAL detailing such changes.

12. In the event where the PRINCIPAL accepts a return of goods, offset or credit in satisfaction of a claim PRUSHKA shall be entitled to charge commission based on the agreed value allowed by the PRINCIPAL to the debtor.

13. PRUSHKA shall be bound by no covenants, representations or warranties other than those specified in this Agreement.

14. PRUSHKA shall be entitled to destroy its file and all documents and particulars provided by the PRINCIPAL in relation to any debt referral upon the expiration of thirty days from the date a statement is sent to the principal advising either of the payment of the debt or that PRUSHKA has closed the file.

15. In the event where the PRINCIPAL fails to pay to PRUSHKA the debt balance on the statement forwarded to the PRINCIPAL within 14 days from the date of the statement, PRUSHKA shall be entitled to charge an account keeping fee calculated at its prevailing rate every month in which there is a debt balance outstanding. In addition, the PRINCIPAL shall be liable for all legal costs and disbursements incurred by PRUSHKA arising from the default calculated on the indemnity basis.

16. In the event where the PRINCIPAL does not cash a cheque sent to him within 6 months of the cheque being sent to him by PRUSHKA, PRUSHKA shall be entitled to cancel the cheque and retain the monies.

17. All GST levied by the Commonwealth Government on PRUSHKA'S commission shall be borne by the PRINCIPAL and PRUSHKA shall provide a Tax Invoice.

18. This Agreement is deemed to be made in the State of Victoria and all disputes hereunder shall be determined by the relevant Victorian Court.

19. Reference to a party shall include reference where applicable to its heirs, successors in title, executors, administrator, receiver or liquidator.