Terms


Between Hokas Credit Management (hereinafter referred to as HC) and the customer signed up at www.hokas.com

1. HC provides accounts receivables management for the client as follows: 

Hokas’ credit management system, is called ESP.

This is operated and supported by ESP CREDITMANAGEMENT, see www.espcreditmanagement.com 

1.1 Invoices and credit notes

HC will receive all open notes from the client’s ERP system. The client must ensure that the information detailed on the invoice: amount, due date, name, email and address of the debtor, is accurate.

The debtor will have access to their copies of their invoices, their current balance, cases sent to collection, and other account details. Access information is included on all reminders generated from ESP.

1.2 Payments

All payments made in the client’s ERP system will be automatically synchronized by ESP.

The client is responsible for updating and reconciling of the open notes on a daily basis.

1.3 Accounts Receivable Management

The debtors will be sent reminders according to the timelines agreed upon with the creditor. The client can also customize the workflow of each individual debtor or invoice in ESP.  Late fees and interest rates are also configurable.

If desired, all reminders sent out by ESP can be configured to include the client’s bank account number so that the invoice amount, interest and fees will be paid directly to the client. 

Accounting entries for all interest and fees incurred are imported to the client’s ERP system.

The client is responsible for reconciling these.

1.4 Debt Collection

Cases will be sent directly from ESP to the debt collection partner.  It is possible to select automatic submission of cases. All payments after the case is sent to Collections will be reported automatically to the collection agency. The debtor will always be able to see cases sent to debt collection by the assigned login in ESP.

2. Reports

The client will have access to ESP by logging into www.hokas.com with their username and password.

Training will be provided as needed. Further support can be provided by contacting the HC account manager.

The client will receive a quality report every month displaying trends and analysis of the company’s outstanding payments, cash flow and additional reports.

The client will be provided with the opportunity to review this at least once per quarter.

3. Billing and Pricing

HC will bill the client monthly according to the current price list.

The client will be notified one month in advance of price increases and changes to the terms and conditions. Prices will be adjusted reasonably, once a year, in accordance with inflation. HC may update the current price list and terms and conditions to this agreement without requiring a signature from the client.

4. Start up and Integration

The client will be billed a start-up fee covering the administrative and initial integration costs.

These costs related to the integration each accounting software, and the customer will be notified up front.

5. Duration of agreement.

This agreement is effective from the signature date. Acceptance of the agreement as per the submission on HC’s website is considered a signature.

In cases where the client wishes to terminate the agreement due to any perceived failures in HC’s system or procedures, HC shall be given the opportunity to correct the perceived failure.

This agreement has a probation period of 3 months. Thereafter the contract period is the remainder of the current year plus 12 months. 

If the client decides to not use HC’s services during the contract period, the client will be charged the average for the last three active months,  each month of the remaining contract period.

Any dispute arising out of or relating to this Agreement which has not been resolved within a reasonable period shall be settled by arbitration by a sole arbitrator in accordance with the then current JAMS streamlined arbitration rules; except that if any party refuses to participate in the non-binding procedure, the other parties may initiate arbitration before expiration of the period above. The place of arbitration shall be Massachusetts at a location in Boston (“Arbitration Location”) designated by the arbitrator unless otherwise agreed by all parties in writing.

6. Confidentiality

The Parties shall not disclose any trade or business secrets that they have become aware of the other party to a third party. Such trade secrets should only be used as part of the fulfillment of the agreement. The Parties shall monitor and ensure that employees also respect the obligation of secrecy. The right to privacy shall continue to be applied after termination of this Agreement.

7. Disclaimer

In the event that incomplete information from the client leads to incorrect reminders, HC can not be held financially responsible for the consequences. If HC sends reminders that have incorrect information, the interested party will be contacted to inform them about the error. Other than this, HC will not provide any other compensation


Price List


FREE

Rate per invoice $ 0,- *

All added interest belongs to HC


STANDARD

Rate per invoice $ 0,- *

All added interest belongs to HC


PREMIUM

Rate per invoice: $ 2.90

Fixed price per invoice where the price per reminder. reminder. balance reports are included *

All added interest and fees belongs to the customer.



General

Delivery costs: