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month following collection, submit an ACH deposit to the City for all monies collected in the <br /> previous month, less collection fees, along with a report including the account name and number, <br /> amount collected and collection fees. <br /> 23. Any compromise settlement of principal or charges shall be agreed upon in writing between the <br /> firm and the City prior to acceptance. <br /> 24. Firm may allow for time payment agreements (payment plans) and may enter into time payment <br /> agreements with consumers for any period less than one year without the consent of the City. Any <br /> time payment agreement extending beyond one year from the date of initiation of plan or any <br /> account owing more than $5,000 must be agreed upon in writing between the firm and the City <br /> prior to acceptance. <br /> 25. No legal actions shall be taken by the firm without express written consent of the City. <br /> 26. Firm shall be solely responsible for any and all costs incurred in and associated with the collection <br /> of debts referred to it by the City. <br /> 27. In the event of contract termination or the bankruptcy/dissolution of the firm, all accounts and <br /> documentation relating to City accounts shall be returned to the City, regardless of status or <br /> payment arrangements made with consumers. <br /> Page 13 of 13 <br /> #2068906vl <br />