SenCred Terms of Service

Effective Date: February 2026

1. Introduction
These Terms of Service form the agreement between you (the Client) and Sentinel Credit Services Limited (“SenCred”, “we”, “us”, “our”).

By instructing us, you agree to these Terms.

2. Our Services
We provide commercial debt recovery and related services. We act on your instructions and in your best interests.

We may cease to act if we believe you have provided misleading or inaccurate information.

3. Our Obligations
We will:

• Act competently and in a timely manner
• Keep you informed
• Protect your confidentiality
• Act in accordance with New Zealand law

4. Your Obligations
You agree to:

• Provide accurate and complete information
• Inform us of any payments received directly
• Cooperate with reasonable requests

5. Fees and Charges
   5.1 Debt Collection Fees

• Our fees are added to the debt and recovered from the debtor.
• You do not pay these fees in normal circumstances.

   5.2 Cost Recovery Fee
   A fee of $115 + 1% of the original debt (incl. GST) applies if:

• The debtor pays you directly after we commence action, or
• You cancel within 28 days of instruction.

   5.3 External Costs

• Any third-party costs require your approval
• Charged at cost + 15%

   5.4 Definition of Collection
   A debt is considered collected if payment is received by either party or settled via agreed value.

   5.5 Professional Services
   Additional work is charged at $180/hour + GST (minimum 1 hour).

   5.6 Misleading Information
   You are liable for any costs resulting from incorrect or misleading information provided.

6. Invoicing and Payment

• Invoices are payable within 7 days
• Disbursements billed weekly
• Consultancy billed in advance

7. Late Payment

• Interest: 12.5% per month (non-compounding)
• Recovery costs and admin fee ($180 + GST) apply

8. Joint Liability
Where multiple parties engage us, each is jointly and severally liable.

9. Confidentiality
We will keep your information confidential except where required by law.

10. Records
We retain records for 7 years.

11. Termination

• Either party may terminate with 28 days notice
• Immediate termination if misleading conduct is identified

12. Disputes

12.1 If any dispute arises in connection with these Terms or our services, both parties agree to first attempt to resolve the matter in good faith through direct discussion.
12.2 If the dispute cannot be resolved within a reasonable timeframe, the parties agree to attempt resolution through mediation before taking further action.
12.3 Unless otherwise agreed, the costs of mediation will be shared equally between the parties.
12.4 Nothing in this clause prevents either party from taking immediate action where necessary to protect their legal rights.

13. Governing Law
These Terms are governed by New Zealand law.