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Terms of Agreement between your business (Subscriber / Creditor) and Performance Source II, Ltd., (PS II, Ltd.), 5097 N Elston Ave, Suite 300, Chicago IL 60630. Phone: 773/205-8000. FAX: 773/205-8041.

Serving you, PS II, Ltd. provides all services to creatively and professionally pursue recovery of bad debts you electively submit by assignment. Litigation service is available at your discretion.

1. Method of Placement - Creditor may place accounts for collection with Performance Source by any means convenient to the Creditor. These Terms and Conditions shall apply to all future placements by Creditor regardless of method of account submission.
2. Fees - All services provided by Performance Source. are subject to Performance Source's regular rate schedule, which may be amended from time to time by Performance Source. Invoices for services rendered by Performance Source are due upon receipt. Creditor shall incur a late fee of one and one-half percent per month on any unpaid amounts, and agrees to pay all reasonable costs of collection including court costs and attorney fees.
3. Offset - Should Creditor fail to pay Performance Source sums due, Performance Source has the right to offset any monies due Performance Source against any monies due Creditor in addition to any other remedies provided by law.
4. Commercial Claim - Creditor represents and warrants that the Creditor's claim arises out of a commercial account (a claim against a corporation, partnership or proprietorship conducted as a business venture) and that the claim is valid and lawful in all respects.
5. Information - Creditor consents to Performance Source's use of any information supplied by Creditor and warrants and represents to Performance Source the truth and accuracy of such information. Creditor authorizes Performance Source to release information concerning the existence of Creditor's claim to credit reporting agencies.
6. Attorney Involvement - Creditor authorizes Performance Source, if necessary, to forward accounts on Creditor's behalf, to attorneys for collection. On those accounts, the attorneys are the agent of the Creditor and subject at all times to the Creditor's direction and control. Performance Source shall not be responsible for the acts or omissions of such attorneys.
7. Hold Harmless - Creditor shall defend, indemnify and hold harmless Performance Source, its agents and employees, from and against any and all liability, loss, claims, demands, suits, actions, damages or expenses (including reasonable attorneys' fees) of every nature or description arising out of or resulting from any of the following: (a) any amendments to the rate schedule of services provided to Creditor by Performance Source; (b) the truth and accuracy of the information provided by Creditor; (c) the validity and lawfulness of Creditor's claim against the Debtor; (d) the Creditor's claim arising out of a non-commercial account; (e) any acts, omissions or claims of any attorney relating to any account forwarded by Performance Source on Creditor's behalf for collection.
8. Endorsement Authorization - Creditor authorizes Performance Source to endorse in the name of the creditor and deposit in its escrow account any and all remittances in any form payable or endorsed to Creditor, which come into the possession of Performance Source while performing services for Creditor. Creditor authorizes Performance Source to deduct Performance Source's fees from these payments. Additionally, Performance Source will be entitled to a commission on all pay directs, merchandise returns or on accounts withdrawn pending collection.
9. Withdrawal - Creditor has the right to withdraw an account at any time. Performance Source reserves the right to charge a full fee for any account that is withdrawn pending collection. If attorney involvement was initiated, the attorney may assess an additional fee.
10. Rates:
Business to Business (B2B) collection:
22% on claims $300.00 or above, 30% on international accounts.
40% on claims over 1 year old,  less than $300.00, or non-B2B accounts, with a minimum fee of $25.00.
Consumer collection
- Call for rates, 773 / 205-8000 ext.202.
Forwarded accounts
- On accounts forwarded to counsel or forwarding agency, the rate is 30% of the amount recovered for B2B claims, 40% for international accounts or non-B2B claims.
- Where suit is filed, the rate is 40% for commercial accounts, 50% for international accounts or non-B2B claims. This includes suit fees. However, some attorneys may request a non-contingent suit fee in advance, usually not to exceed 5%. This will be credited to the collection fee upon recovery.
Court costs
- Client advances court costs, which vary by jurisdiction. Suit is never initiated without clients written authorization. 
Merchandise Return
- Acceptance of return of merchandise for credit shall be charged at 1/2 the published rate.
- Withdrawal of claim by client, pending collection, is billed at the published rate.
Discovery of payment
- Accounts paid prior to placement shall be billed at 1/2 the published rate.
- Reasonable expenses, such as bank fees, credit card processing fees or express
delivery fees are charged to client at actual cost.
11. Amendments - Performance Source may amend the Terms and Conditions by providing Creditor with written notification.

Although debtor payments go in full at once to Subscriber, PS II, Ltd. is licensed and bonded.
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