The Collection Agency Agreement is essential for businesses operating in Hong Kong that require professional debt collection services. This document is typically used when a company needs to engage a specialized agency to recover outstanding debts while ensuring compliance with Hong Kong's strict regulatory requirements. The agreement covers crucial aspects such as commission structures, compliance with debt collection guidelines, data privacy requirements, and reporting obligations. It's particularly important in Hong Kong's business environment where debt collection activities are closely scrutinized and must adhere to specific legal and regulatory frameworks. The document protects both the creditor and the collection agency by clearly defining responsibilities, limitations, and operational procedures.

1. Parties: Identifies the contracting parties: the creditor/client and the collection agency, including their full legal names and registered addresses

2. Background: Explains the context of the agreement, including the creditor's need for collection services and the agency's qualifications

3. Definitions: Defines key terms used throughout the agreement, including 'Debts', 'Services', 'Commission', 'Debtors', etc.

4. Appointment and Scope of Services: Details the appointment of the collection agency and specific services to be provided

5. Term and Termination: Specifies the duration of the agreement and circumstances for termination

6. Commission and Payment Terms: Outlines the fee structure, commission rates, and payment arrangements

7. Obligations of the Collection Agency: Lists the agency's duties, including compliance with laws and professional standards

8. Obligations of the Client: Specifies the client's responsibilities, including providing necessary documentation and information

9. Compliance with Laws: Details compliance requirements with Hong Kong laws, particularly regarding debt collection practices

10. Data Protection and Confidentiality: Addresses handling of personal data and confidential information in compliance with PDPO

11. Representations and Warranties: Contains standard warranties from both parties

12. Limitation of Liability: Sets out the extent and limitations of the agency's liability

13. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction for disputes