Terms for Operation

1. Scope of Services

Rainscript LLC ("the Collector") will act as a third-party payment collection agent for Recipient Company ("the Client"). The Collector will be responsible for invoicing, follow-ups, and collecting payments from customers on behalf of the Client, ensuring timely remittance to the Client.

2. Payment Collection Process

• Invoicing: The Collector will generate and send invoices on behalf of the Client, as per agreed formats and timelines.
• Collection Follow-up: Follow-ups will commence within 7 days post-due date, including reminders via phone, email, SMS, etc.
• Escalation Protocol: If payments remain outstanding after 30 days from the due date, the matter will be escalated to the Client with recommendations on next steps.

3. Payment Terms and Conditions

• Payment Deadlines: Payments will be considered overdue if not received within 15 days from the invoice date.
• Late Fees: For overdue payments, a late fee of 1% may apply as per Client’s policy.
• Partial Payments: If a customer makes a partial payment, this will be recorded, and follow-up will continue for the remaining balance unless otherwise specified by the Client.

4. Remittance to the Client

• Frequency of Remittance: Collected payments will be remitted to the Client weekly.
• Service Fee Deduction: Rainscript LLC’s service fee of 10% will be deducted from the collected payments prior to remittance.

5. Confidentiality

Rainscript LLC will keep all client information confidential, adhering to applicable data protection regulations.

6. Dispute Resolution

Any payment disputes raised by customers will be reviewed by Rainscript LLC in coordination with the Client. Unresolvable disputes will be promptly communicated to the Client for further action.

7. Compliance with Legal Requirements

Rainscript LLC agrees to operate within all applicable legal and regulatory standards for payment collection. The Client is responsible for informing Rainscript LLC of any specific compliance requirements for their industry.