Bilateral will attempt to collect you collection charges from the debtor if you have a signed contract, that was signed by the debtor or any authorized agent of the debtor or any perceived to authorized agent or employee of the debtor that calls for collection charges to be paid by the debtor in the event of a default in terms where you must use a collection agency or an attorney to collect, keep in mind if you say “attorney fees, that means just that, attorney fees, that would exclude collection agency fees, there is a difference so include both by saying collection agency or collection attorney fees however your contract with the debtor must be signed prior to any debt being incurred by the debtor and the document must specifically state the debtor will accept responsibility for collection or attorneys fees not exceeding 25%
This contract is often part of a credit application ( see our generic credit application in our education zone by going into the information zone first from our main page) or it can be part of the delivery document providing the debtor signed it or any other document signed prior to any debt being incurred. Bilateral with its progressive thinking can and will help you protect your credit risk sales, we will work with you to reduce your bad debt write offs.
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