Wollcom's Terms and Conditions

These terms and conditions, combined with the Authority to Act form, represent the agreement between the client named above ("you") and Wollcom Credit Management Services ("Wollcom").

1. You agree that…
1.1. Wollcom and its servants or agents shall be your agent for the purpose of collecting one or more debts listed on the Wollcom database ("the debts") and is engaged to perform all acts necessary to recover the debts including instructing our associated legal firm Heard McEwan Legal to take legal and enforcement action;
1.2. the details of the debts provided to us are accurate, the debts are properly owed to you and you believe them to be recoverable;
1.3. once Wollcom has commenced collection action, you will allow Wollcom to continue collection action without pause;
1.4. you will provide the following documents to Wollcom by fax in relation to each debt within 24 hours of our request:
1.4.1. a copy of the invoice or invoices for each debtor;
1.4.2. if there is more than one invoice for each debtor, a payment transaction history showing the invoices and payments received (if any) with a final balance owing;
1.4.3. any documentation showing the nature of the business arrangement (e.g. contracts, letters of engagement, etc.)
1.4.4. copies of any correspondence or file notes in relation to the collection of the debt;
1.4.5. anything else that may assist.
1.5. you will, when referring any debts to Wollcom, provide the date of the debt becoming due. If the date of debt is not provided, you agree to be charged to higher commission rate as detailed in the attached documents. Once the commission has been charged as agreed in this point, it may not be reversed or amended.
1.6. you will notify Wollcom within 48 hours of any communication with a debtor or any part of any of the debts being paid to you;
1.7. termination of our engagement either generally or on any particular debt matter must be in writing;
1.8. Wollcom may cease to act at any time on any of the debts;
1.9. you will, within 7 days of the provision of written notice, pay us commission at the agreed rate:
1.9.1. on the amount recovered of any of the debts; or,
1.9.2. on the amount of any debt for which collection action is paused at your request;
1.9.3. in the event that you terminate our engagement for any reason except for any particular debt remaining unrecovered for 12 months from the date of your instructions, or, an unacceptable change in these terms;
1.9.4. the full amount of the commission payable;
1.9.5. in the event that a compromise is reached with the Debtor and agreed by Wollcom, the value of that compromise.
1.9.6 for all and any payments made to Wollcom or direct to you after the account has been referred to Wollcom for collection resulting from your direct contact with the Debtor.
1.10. you will, within 7 days of the provision of an invoice by either us or businesses engaged by us on your behalf, pay us or the engaged business the full amount of any charge that we incur on your behalf in attempting to recover any of the debts;
1.11. you will, within 7 days of the request by Wollcom, provide Wollcom with advances of the out-of-pocket expenses (e.g.: court filing fees, service fees and location search fees)
1.12. you will accept our reasonable advice in relation to the conduct or settlement of any debt;
1.13. in the event that the commission payable is not paid to Wollcom as requested, Wollcom shall be entitled to add a charge of 10% per month of the outstanding amount. In addition, Wollcom shall be entitled to be paid all the costs of recovery from you on an indemnity basis;
1.14. you will indemnify us against all loss and damages arising from our attempting to recover any of the debts;
1.15. Wollcom may destroy all documents in relation to any of the debts one month after a Debt is recovered or the file relating to that debt is closed;
1.16. these terms and conditions may be varied by Wollcom with one month's notice in writing;
1.17. all communications between us will be handled by the person nominated as the Authorised Client Contact and you will keep Wollcom informed in writing of your current address and contact details.

2. Wollcom agrees that…
2.1. we will make all genuine attempts to recover the debts;
2.2. we will not act in any way that damages your name and reputation;
2.3. we will not engage any person on your behalf or incur any expense without your prior approval;
2.4. we will account to you for monies recovered for each calendar month and will pay you monies due to you on or before the 10th day of the month following the month of receipt.
2.5. if you have selected the Annual Membership option, your membership period is for 12 months from the date of the receipt of the signed Authority to Act Form.
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Customers, please note we have upgraded our online client portal.

To gain access to the new system please email info@wollcom.com.au.


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