Terms and Conditions of Business


JMS Credit Consultancy®


  1. Quality Service: In all our dealings with our clients we aim to provide a high-quality service, to find out what our clients want, and achieve it.  We try to work quickly and efficiently, and we hope you find us friendly and approachable.  At the end of the transaction we hope you will think our fee represents good value for money.
  • Contacting Us: Our business hours are from 8.30 a.m. to 6pm Monday to Friday.  Our telephones are answered from 8.30 a.m. to 6.00 p.m. Monday to Friday.  If the person concerned is unable to take your call, or if we are closed for a local or statutory holiday, you can leave a message on voicemail. Contact out with these ours will be subject to a fee of £25.00 per call.
  • Initial Meeting: We will be happy to have an initial telephone discussion or meeting with you to decide whether we can be of assistance to you. (subject to location)
  • Instructions:  Instructions may be given to us in writing or verbally.  We may well ask you to confirm in writing the terms of verbal instructions given to us. If there is any change in your instructions, you must notify us immediately. If you wish anyone other than yourself to give us instructions or information, we will require confirmation of this in writing.
  • Conflict of Interest: In general, we cannot act for two or more parties if they have conflicting interest.  Please advise us at the outset if you are aware of potential conflicts which may arise.  If we decide that we can still act (i.e. if you are one of the exceptions to the general rule) we will confirm this to you in writing.
  • Liability: Unless we agree otherwise, in writing, we shall assume that where we act for more than one person but only one of them tells us what to do, that person has the authority of the other(s) to do so.  Where we do act for more than one person, each person for whom we do work is equally responsible for the instructions given to us and for payment of our fees and outlays in connection with that matter.  If you do not understand what this means, please ask us to explain.
  • Our Liability Credit Opinion and Drafting Terms and Conditions
  • Credit Opinion; The service is not intended to be used as the sole basis for any decision making and is based upon data which is provided by third parties, the accuracy of which it would not be possible for us to guarantee. Whilst we always aim to maintain a quality, fully operative service, the service and third-party services are nonetheless provided on an “as is”, as available basis without warranties of any kind, whether express or implied.
  • Specifically, we give the customer(s) no warranty or assurance about the contents of the service. Whilst we do endeavour to maintain the accuracy and the quality of the service, information contained may be incorrect or out of date. Therefore, any use of the service is at the customer’s own risk.
  1. Drafting Terms and Conditions. We give the customer(s) no warranty or assurance about the contents of the service. Whilst we do endeavour to maintain the accuracy and the quality of the service, you are encouraged to have all drafted Terms and Conditions reviewed by a suitably qualified solicitor.
  1. James Sleith T/A JMS Credit Consultancy® disclaims all liability in contract, negligence, for breach of statutory duty, or under any indemnity or otherwise in connection with the service and third-party service and shall not be liable for any indirect, or consequential loss.  We shall not be liable for the following types of financial loss; loss of profits, loss of earnings, loss of business or goodwill in addition to the following types of anticipated or incidental losses; loss of anticipated savings, increase in bad debt and failure to reduce bad debt.  You (the client) agree to indemnify James Sleith trading as JMS Credit Consultancy ® against all costs, inclusive of those costs for legal actions arising out of mistaken or erroneous information passed on, or information omitted to be passed on  from you the Client in furtherance of the collection of a debt.
  1. Private Limited Companies: If we are given instructions by a private limited company then, unless otherwise agreed with you in advance, it is a condition of our accepting these instructions that the Directors are jointly and severally liable along with the Company for payment of our fees and costs and any interest, compensation and debt collection costs thereon. By accepting these terms and conditions the directors accept that they have received or had the opportunity to receive independent legal advice. 
  1. Confidentiality: Information passed to us is kept confidential and will not be disclosed to third parties unless authorised by you or required by law or for the sake of actions to recover any and all unpaid fees.

JMS Credit Consultancy®


As at 09 December 2020

  1. Copyright and Third Parties: All copyright in documents we produce is reserved to us. Advice given and documents prepared are for your use only and may not be copied or used by any third party without our express written consent.
  1. How Long Will it Take: The nature of work, particularly ledger reviews and debt collection work, often makes it difficult to accurately estimate how long something will take to complete. When we discuss your requirements at the outset we can also discuss timescales.  We do attempt to meet these, even to beat them, and always to deal with everything as quickly and efficiently as possible.  Please remember that often the speed at which work can undertaken is affected by the cooperation (or lack of it) received from other parties which are out with our control. It is also fully reliant on prompt information and / or instructions from you, the client.
  1. Costs – The basis upon which we will charge you fees for such matters will be calculated on one of the following bases: (to be agreed with you in writing)
  • On an hourly rate of £25.00 charged in 15 minute segmants (exclusive of VAT). We will advise you of any change in the hourly rate.  When assessing our fee, we take into account a number of factors, including the value of the transaction, the complexity and difficulty of the matter, the skill, knowledge and responsibility involved and the urgency of the matter; or
  • On a fixed fee basis. In those circumstances you will be advised of the fixed cost in writing (letter or email or both) at the outset of the transaction.
  • On a commission basis at a rate of 12.5% per first placement debt placed with us and collected by us or, our agents / solicitors either paid to you, us, our agents or solicitors or your factoring company / agent and / or funders. (paid in full or part) and 20% on any second placement debts. (taking over from another collector or we are subsequently advised that collection agents and / or solicitors have been involved in trying to collect this debt)

Commission is payable on all amounts recovered in respect of the principle debt.  If you ask us to close our file prior to the full debt being paid, or if you issue credit notes you agree to pay us 5% of the debt value as well as commission of 12.5% (20% second placement) on any debts paid after we have been instructed.  There is a £25.00 take on fee for each debt collection case, this is payable irrespective of the debt collection outcome.

  • Third party costs, in the event that external parties are instructed with your approval (Solicitors, International Debt Collection Companies, Credit Referencing Companies, Quantity Surveyors, Adjudicators and or any other professionals etc.) you will be responsible for those costs. We will endeavour to obtain the most cost-effective quote for you. 
  • In the event that a debt is passed to a third party for collection, we will work closely with our collection partners / solicitors to ensure the best possible chances of recovery. In these instances, we will work closely with you (the client) and our collection partners / solicitors. This may involve compiling case history, communications history, drafting replies to the debtor’s agents / solicitors. In those instances, the commission rate of 12.5% (20% second placement) of any value recovered and an hourly rate of £25.00 (exclusive of vat) will be charged.
  • Disputed debts; dealing with disputes and corresponding with other parties will be charged at an hourly rate of £25.00 per hour with all time charged in 15 minute segments. This is in addition to any commission payable on debts collected.
  • In the event of a favourable court judgment / decree you agree that our commission / fees become payable at the date judgment / decree is awarded in your favour.
Debt collectionFees will be as outlined at 16) Costs plus VAT will apply to each debt, if you opt to pay commission rather than an hourly rate and if late payment interest and compensation is recovered on your debt, commission will be will be payable only on the principle debt. Commission rate as outlined at 16c   
Settlements- maintaining instalment planWhere we receive instalments from debtors on your behalf, we will be entitled to deduct a fee of 5% of each instalment in respect of our maintenance, and administrative costs, in facilitating the instalment plan.
Any other matterFees will be agreed separately, in writing, depending on anticipated work required on your behalf. Prices for other services can be found at jmscredit.co.uk/about-us/more-information/

JMS Credit Consultancy®


As at 09 December 2020

  1.  Costs – General – VAT: In addition to fees, Value Added Tax.  Value Added Tax is charged at the current rate on all fees and will be subject to the prevailing legislation at the time of our fee being rendered to you.

18)   Costs – General – OutlaysIn addition to fees and Value Added Tax, Outlays incurred on your behalf will be payable by you.  The costs will be chargeable to you at the market rate for such outlays.  In some cases, all or some of the outlays are not recoverable from debtors for varying reasons.  In cases such as that, you will remain liable to us for the full sum charged to you.

  1. Accounts: We will issue our account either at the end of a matter or at regular intervals. Payment is due within 7 days of the date of the invoice.  If you have not paid within this time, we reserve the right to charge interest, late payment compensation and debt recovery costs as outlined in The Late Payment of Commercial Debts (interest) Act 1998 (as subsequently amended) on the amount(s) overdue.

If you do not pay our invoices on time, we reserve the right to stop working for you and to charge you for the full amount of work we have done for you. Further, in the event of non-payment or late payment, we reserve the right to withdraw credit facilities after which, all amounts outstanding will become due for payment irrespective of the due date as stated on the invoice(s).

  • Deduction of Fees and Outlays at Source: Where we receive sums from other parties which are due to you, we shall be entitled to deduct from those sums all outstanding fees and outlays before sending you the balance. (In the event we have not already received payment from you)
  • Costs paid on your behalf: Where fees, outlays or expenses are to be paid by us on your behalf, we will endeavour to give you details of these in advance in order that you may place us in funds before the sums are due.  If, however, we are unable to do so, we will require to be repaid by you immediately upon your receiving a request for payment of the appropriate sum. Where costs are paid on your behalf, they will be subject to an administration fee of 5% of total costs paid on your behalf.
  • Payment of our invoices/ Credit Terms:  With the exception of outlays only invoices, which are payable by you immediately upon your receiving a request for payment of the appropriate sum., payment of all invoices rendered by us to you must be made within 7 days of the date of issue.  If payment is not remitted by you in that timescale then interest, late payment compensation and debt recovery costs may be charged in terms of the Late Payment of Commercial Debts (Interest) Act 1998. (as subsequently amended) Further to that you agree thatall reasonably incurred cost in pursing you for the debt, whether professional or otherwise, will be payable by you.
  • In terms of debt collection works carried out by us on your behalf, you undertake to confirm receipt of recovered payments promptly on demand by us and by withholding any such confirmation we have the right to infer, acting reasonably, that payment has been received and invoice you in full at the rate agreed between us, payable by you in accordance with the payment terms above.  Further, you agree to provide prompt instructions as and when requested as well as provide any and all information requested.  If you fail to provide instructions and / or information to us within 7 days from request, we reserve the right to close our file and invoice you for our commission at the agreed rate.
  • Request for return of Records: On completion of the work, and after payment of all fees and outlays due to us, you will be entitled to request return of any documents, papers, etc owned by you.   We reserve the right to make a charge to you for copying of these papers, and for postage for such returned documentation, prior to release thereof.  Alternatively, you may uplift the documents, papers, etc at a mutually convenient time, arranged in advance.  In that case a cost for copying of these documents, papers, etc may be made, but no postage cost will be chargeable.  

If a request is made for return, or copy of, any records stored/archived in accordance with these Terms of Business, then a reasonable charge may be payable in respect of the uplift of these records from storage/archive.

  • Dissatisfaction: If for any reason you are unhappy about the quality of service provided, then you should, in the first instance, take the matter up with the person whom you have been dealing.  Alternatively, should you prefer or if you feel your initial approach has not resolved the point, complaints should be made in written form to, Mr James Sleith, Collections Department, PO Box 9215, Wishaw, Lanarkshire, ML2 2AP.
  • We recognise that Alternative Dispute Resolution Regulations have implemented ADR/EDR Directive 2013/11/EU to promote alternative dispute resolution as a means of redress for customers in relation to unsatisfactory services. 

We have however chosen not to adopt an ADR process and if you have any concerns about the services you receive from us you should contact the us as outlined at 25) Dissatisfaction

JMS Credit Consultancy®


                                                                      As at 09 December 2020

  • Whole Agreement: These terms and conditions, together with the letter accompanying them and any enclosed Estimate of Fees and Outlays, will form the whole agreement between us to carry out any work and or services that you request.
  • Applicable Law: These terms and conditions are governed by the Laws of Scotland and are subject to the exclusive jurisdiction of the Scottish Courts.
  • Acceptance of Terms of Business: We would be grateful if you would sign and date where indicated below and return a copy of the Terms of Business to us. Unless otherwise agreed these Terms of Business apply to any future continuing instructions to us. In the event that we do not receive a signed copy from you, your continuing instructions to us will confirm acceptance of these Terms.
  • These Terms along with the letter of introduction contain the entire agreement between the parties and unless otherwise agreed in writing by James Sleith of JMS Credit Consultancy®, these terms prevail over any other terms of business or purchase conditions (or similar) put forward by the client and / or it’s representatives.

I/we acknowledge receipt of the Letter of Engagement and Terms of Business and agree with the terms of your engagement set out therein. I further acknowledge and agree as outlined at paragraph 12 of these Terms and Conditions that in the event of non -payment by my / our company I will be held personally liable for payment of your fees and costs and any interest, compensation and debt collection costs thereon.