Common use of COSTS OF DEBT COLLECTION Clause in Contracts

COSTS OF DEBT COLLECTION. In the event that the Bank hires an attorney-at-law or debt collection agency to collect any debt for which the Cardholder is liable to the Bank under this Agreement (the “Cardholder’s debt”), the Cardholder will be liable for all the costs incurred by the Bank as a result of such hiring, subject to a percentage limit of the Cardholder’s debt which is the subject of the collection, such percentage limit to be decided by the Bank. This liability for costs is in addition to and without prejudice to any order for costs made against the Cardholder in favour of the Bank by a court of competent jurisdiction in respect of a suit or action brought in such a court to recover the Cardholder’s debt.

COSTS OF DEBT COLLECTION. In the event that the Bank hires an attorney-at-law or debt collection agency to collect any debt for which the Customer and/or Cardholder is liable to the Bank under this Agreement (the “CardholderCustomer’s debt”), the Cardholder Customer will be liable for all the costs incurred by the Bank as a result of such hiring, subject to a percentage limit of the CardholderCustomer’s debt which is the subject of the collection, such percentage limit to be decided by the Bank. This liability for costs is in addition to and without prejudice to any order for costs made against the Cardholder Customer in favour of the Bank by a court of competent jurisdiction in respect of a suit or action brought in such a court to recover the CardholderCustomer’s debt.