Macquarie Collections

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Terms and Conditions

The Client appoints Macquarie as its agent for debt recovery and agrees to the following Terms and Conditions.

1. The following Terms and Conditions will apply to each of the Products:

MAC – PAY AS YOU GO  

  1. Upon referral of a debt the Macquarie shall seek the Client’s instructions on each of Macquarie’s recommended steps to recover the debt (“the Referred Debt”).
  2. Macquarie shall charge and the Client shall pay all Court scale solicitor fees and scale filing  fees, expenses and service fees for each step of the Collection Process.
  3. Should a request for further and better particulars, an application to set aside the default judgment or a defence or cross claim be requested, made or filed by the any defendant in the proceedings (“Defended Proceeding”), Macquarie shall charge and the Client will pay all solicitors fees, expenses and service fees incurred in the Defended Proceedings.

MAC – NO UPFRONT SOLCITORS FEES

  1. Upon referral of a debt the Client instructs Macquarie to take any of the following debt collection action that Macquarie considers appropriate on any debt referred by the Client (“the Referred Debt”) until the debt is paid or a payment arrangement is reached with the debtor/s or guarantor (“Debtor”):
    1. issue a 7 day Macquarie letter of demand; issue a Statement of Claim or other Originating Process;
    2. upon the statutory period expiring enter default judgment; and
    3. at Macquarie’s discretion take enforcement action on the judgment debt. (“the Collection Process”).
  2. Macquarie shall charge and the Client shall pay the Court scale filing costs, service fees, search fees and file opening fee for each step in the Collection Process. The court scale solicitor’s fees shall be deferred until any payment is received from the Debtor (the “Deferred Solicitors Fees”). 

Exceptions – where Client liable to pay Solicitors Fees upfront.

  1. Macquarie shall seek the Client’s instructions on whether to commence a windup or bankruptcy application to enforce the judgment debt (Other Enforcement Action), and if agreed by the Client, Macquarie shall charge and the Client shall pay all solicitor fees and Court scale filing fees, expenses and service fees for that Other Enforcement Action.
  2. Should a request for further and better particulars, an application to set aside the default judgment or a defence or cross claim be requested, made or filed by the any Debtor in the proceedings (“Defended Proceeding”), Macquarie shall charge and the Client will pay all solicitors fees, expenses and service fees incurred in the Defended Proceedings.

MAC – SMALL DEBT COLLECTION (DEBTS UNDER $1,000).

  1. Apart from No Upfront Upon referral of a Referred Debt valued at less than $1,000, the Client instructs Macquarie to take the following debt collection action on any debt referred by the Client until the debt is paid or an arrangement is reached with the debtor or the debt collection is completed:
    1. issue a 7 day Macquarie letter of demand;
    2. issue a 7 day solicitors letter of demand; and
    3. a telephone or a SMS demand. (“the Small Debt Collection Process”).
  2. If Macquarie recommends or the client instructs the Macquarie take further collection action then such action shall be taken in accordance with the Pay as You Go product and the commission rate shall be decreased to 7.5%.

Reduced Commission

  1. No matter the Product, where a Debt Referred becomes a Defended Proceedings flat commission of 5% will be charged on all monies received after the debt referral becomes a Defended Proceeding.
2. Payment/s received from the debtor or guarantor.
  1. Where payment is received by the Client from the Debtor, Macquarie shall charge and the Client shall pay on any payment:
    1. any accrued Deferred Solicitor Fees on the Referred Debt, but no greater than the payment received; and
    2. commission at the agreed commission rate on the payment received.
  2. Where payment is received in Macquarie’s Trust Account the following payments shall be made in the following order:
    1. (firstly, in payment of all Deferred Solicitor’s Fees, if any;
    2. then in payment of commission charged on that Referred Debt;
    3. then in payment of any other outstanding fees and commission on any Referred Debt matter due to Macquarie by the Client;
    4. then in payment of any other current fees and commission due to Macquarie by the Client including any defended matter fees charged bythe solicitors but not yet billed by Macquarie; and
    5. then the balance to the Client.
  3. Where payment is received into the Trust Account of a solicitor appointed by Macquarie then the Client directs and authorises Macquarie to instruct the Solicitor to make the following payments in the following order:
    1. firstly in payment of all Deferred Solicitor’s Fees, if any;
    2. then in payment of commission on that payment;
    3. then in payment of any other outstanding fees and commission on any Referred Debt matter due to Macquarie by the Client;
    4. then in payment of any current fees and commission due to Macquarie by the Client; and
    5. then the balance to the Client.
  4. The Client shall advise Macquarie of any payment received from or on behalf of the Debtor within 48 hours of receipt of the payment.
3. Appointment of Solicitor

The Client directs and authorises Macquarie to appoint any solicitor of its choice to act as the Client’s solicitor in relation to legal services required to collect the Referred Debt. 

4. Payment of Macquarie’s Statement / Invoices.
  1. The Client shall pay all outstanding fees and charges set out in Macquarie’s Statement \ Invoices within 14 days of the date of the Statement / Invoices, unless otherwise agreed.
  2. Should the Client fail to pay any outstanding fees and charges by the due date then Macquarie may charge interest on the outstanding fees and charges until paid in full at the rate of 15% per annum.
  3. Where the Client fails to pay any outstanding fees and charges by the due date Macquarie may halt all collection action and instruct the solicitor to cease action until the fees and charges are paid in full.
  4. Macquarie shall be entitled to retain custody of any papers, documents and files until all fees and charges are paid in full.
  5. The client grants Macquarie a lien over all papers, documents and other information until such time as full payment of the fees and charges are made.
5. Withdrawal of Account or Failure to provide Instructions:
  1. If prior to the Collection Process has been completed the Client withdraws the Referred Debt from collection then Macquarie may charge and the client shall pay commission, at the agreed commission rate, on the Referred Debt amount less any payments received.
  2. Where Client has failed to provide instructions to Macquarie on any Referred Debt for a period of twenty eight (28) days then:
    1. Macquarie may serve on the Client a notice advising that should instructions on the Referred Debt not be received within fourteen (14) days of the date of the notice Macquarie will be entitled to charge the Client commission, at the agreed commission rate, on the Referred Debt amount less any payments received; and
    2. if the Client fails to provide reasonable instructions within the fourteen (14) day period Macquarie may charge the Client commission, at the agreed commission rate, on the Referred Debt amount less any payments received.
6. Jurisdiction and Service.
  1. Service.
    The parties agree that service of any notices, demands, proceedings summons suits or actions (“process”) upon the Client may be effected by Macquarie or its solicitors sending such process by email or prepaid post to the address given in this Agreement as the email address or address of the Client.  Service shall be deemed to have been effected on the day of receipt of the email by the Customer or two business days after the posting of the process.
  2. Jurisdiction
    The parties agree that the Terms and Conditions of this Agreement shall be governed by the laws of the State or Territory nominated by Macquarie or failing any nomination the laws of the State of New South Wales in force for the time being and from time to time, and the parties irrevocably submit generally and unconditionally to the jurisdiction of the Courts of the State or Territory nominated or failing nomination the Courts of the State of New South Wales.
7. Miscellaneous
  1. Nothing in these Terms and Conditions is intended to exclude, restrict or modify rights which the Client may have under the Competition and Consumer Act 2010 or any other legislation which may not be excluded, restricted or modified by agreement.
  2. A party waives a right under these Terms and Conditions only if it does so in writing. A party does not waive a right simply because it fails to exercise the right, delays exercising the right or only exercises part of the right. A waiver of one breach of a term of these conditions does not operate as a waiver of another breach of the same term or any other term.
  3. If a provision in these Terms and Conditions is wholly or partly invalid or unenforceable in any jurisdiction, that provision or the part of it that is invalid or unenforceable must, to the extent of its invalidity or unenforceability in that jurisdiction be severed from this agreement. All the remaining provisions shall be enforceable between Macquarie and the Client.
  4. These Terms and Conditions may only be varied in writing.