Contract for extrajudicial collection

Date:

Between:

I.C.S. INTERNATIONAL COLLECTION SERVICES BVBA,

Noorderlaan 98/B29, 2030 Antwerp, Belgium, VAT BE0676 982 695

hereinafter named I.C.S.

And: (please fill in)

hereinafter named the client,

The following has been agreed:

I.C.S. undertakes, to process, to the best of its abilities, the business-related collection tasks assigned to it by the client.

The client is under no obligation and is in no way committed to exclusivity with I.C.S. as regards the provision of collection assignments. On the other hand, the client acknowledges that the collection and processing of the collection assignments will proceed in accordance with the rates and conditions detailed below: the commissions shall only be calculated on the basis of the amounts collected, paid to I.C.S. or to the client after intervention by I.C.S. (no cure - no pay). Prices/ rates are shown without VAT.

1. Belgium

Bank costs, exchange rate costs and representative costs are at the client’s expense. These last amount to 5% in case of success and € 9 report cost (non-recurring).

The flat rate amounts to € 18 and for claims older then one year and/or smaller then € 250, 5 % is added to the highest commission in case of success.

2. Direct trade partners – The Netherlands, United Kingdom, Ireland, Germany and France

Bank costs and exchange rate costs are at the client's expense. For claims older than one year, 5% is added to the commission in case of success. The flat rate amounts to 43 €. No additional commission will be charged for small claims. Luxembourg: 75€

3. All other EU-countries + Switzerland, Norway and Cyprus

Bank costs and exchange rate costs are at the client's expnense. For claims older thatn one year and/or in Spain, 5% is added to the commission in case of success. The flat rate amounts to 43 € except Italy: 75 €. No additional commission will be charged for small claims.

4. Hungary, Poland, Czech Republic, Slovak Republic, Slovenia, Romania and Bulgaria

Bank costs and exchange rate costs are at the client's expense. For claims older than one year, 5% is added to the commission in case of success. The flat rate amounts to 92 €. No additional commission will be charged for small claims.


5. United States and Canada

Bank costs and exchange rate costs are at the client's expense. For claims older than one year, 5% is added to the commission in case of success. The flat rate amounts to 111 €. No additional commission will be charged for small claims.

6. All other countries:

Commission: 35%. Bank costs and exchange rate costs are at the client's expense. For claims older than one year, 5% is added to the commission in case of success. The flat rate amounts to 185 €, Africa 483€. No additional commission will be charged for small claims.

GENERAL SALES CONDITION

Article 1

The services provided by I.C.S. will be paid for in the form of a commission on the amounts collected.

The commission and processing expenses are payable from the moment that the assignment is issued to I.C.S..

Article 2

The commission is owed in the following cases:

- when the amount is paid to the client or to I.C.S..

- when an agreement has been reached between the client and the debtor for the cancellation or compensation of the debt.

- when the client repossesses the goods supplied.

Article 3

The client undertakes to inform I.C.S. IMMEDIATELY of any intervention on the part of the debtor such as payment, contact or correspondence.
Article 4

The amounts collected by I.C.S. shall be paid to the client on a monthly basis, with the amount of the commission withheld.

Article 5

Invoices from I.C.S. are payable in cash in Antwerp, at the company's head office.

A notice of default will be sent concerning invoices not paid after 30 days.

If no payment is forthcoming, a fixed amount in damages will be charged at 15 % with a minimum of € 37.

Moreover, late payment interest in the amount of 12 % per year will be charged.

Article 6

In the case of dispute, both parties accept the jurisdiction of the courts of Antwerp.

For I.C.S.                                                                                 For the client,

(name and signature)                                                             (name and signature)

Document drawn up in duplicate in Antwerp.