Dick Wolff Management
Dick Wolff Management

Terms & Conditions

You will find the terms and conditions for debt collection from Dick Wolff Management (DWM) in Triesen in the Principality of Liechtenstein below. Dated: 09.2013. These replace all previous terms and conditions.

I. Scope of the collection mandate

The client grants power of attorney to Dick Wolff Management (DWM) and charges them with the collection of debts in their name. They will hand over all documents necessary for claiming the debt to DWM. DWM is obliged and entitled to use all measures relevant to the situation and the law which are necessary to enforce payment of the debt. Particularly costly measures (trials and similar) are only carried out with the client's permission. As far as is permitted by law, DWM will carry out enforcement measures in the name of and under power of attorney for the client.

II. Correspondence

After an order has been issued, all correspondence with relation to the issued mandate will be carried out exclusively via DWM. The client is obliged not to carry out any correspondence or negotiations with third parties in order to insure a proper implementation of the collection mandate. The client will pass inquiries from the debtor and third parties which relate to the mandate on to DMW immediately for them to deal with. Furthermore, it is forbidden for third parties to use DMW's name as a means to put pressure on debtors.

III. Transfer of payment

Payment of repayments of the debts assigned for collection and the resulting costs must be carried out exclusively through DWM, which is authorised to accept this money. All payment received is available without delay after the end of the respective mandate after offsetting debts to which DWM is entitled. If payments are made directly to them, the client is obliged to inform DWM of their amount and value immediately.

IV. Liability

DWM is only liable for intent or gross negligence. In particular, DWM is not obliged to monitor the expiry of limitation periods and to disrupt or limit this period through suitable measures - in this respect, DWM is free from all liability.

V. Termination of the collection mandate

The collection mandate ends with full repayment of the debts assigned for collection, including interest and resulting costs. If the customer cancels the collection mandate prematurely due to reasons for which DWM is not responsible, DWM has the right to a reimbursement of all costs which have already been incurred within 10 days. Furthermore, in this case DWM also reserves the right to claim any commission for success to which they are entitled according to the terms and conditions. DWM has the right to cancel the mandate before final repayment of debts if the client no longer meets their obligation to reimburse the collection costs, if they consistently breach the terms of the contract and if they attempt to prompt DWM to carry out measures which go against good morals. DWM also has the right to cancel the mandate if it emerges that the debt is irrecoverable (e.g. the debtor dies, the estate is heavily indebted and the heirs prove that the estate cannot pay).

VI. Documents

After the termination of the collection mandate, the customer receives all documents which they made available to DWM when the debt collection contract was closed and is entitled to request that all documents and enforcement documents are surrendered. Until all debts which DMW is entitled to claim from the client have been settled, DWM - under exclusion of a mandatory storage period - has the right to retain any documents mentioned in paragraph 1 above.

VII. Collection costs

DWM charges the client costs for its work according to a separate table of costs; it will try to raise these costs from the debtor as far as this is permitted. Unless it has forgone it in writing, DWM reserves the right to adjust the rates of its costs proportionally with immediate effect.

VIII. Severability clause

If any individual conditions within these terms and conditions are invalid, the rest of the conditions remain valid. In such a case, the invalid condition is to be changed or amended so that the intended economic purpose is met by the invalid condition.

IX. Applicable law

The contractual relationship between the client and DWM is to be construed exclusively according to the law in the Principality of Liechtenstein. The place of implementation and court of jurisdiction is Vaduz. DWM also has the right to file a suit in the client's home country.

DWM – Dick Wolff Management
Industriestrasse 32 | 9495 Triesen | Principality of Liechtenstein
T +423 392 37 66 | F +423 392 37 69 | info@dwm.li
IB Score AG
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