BOS Group
(Briddock O’Sullivan Group
Limited)
The
Credit Management and Debt Recovery sectors are currently
unregulated.
In the absence of regulation it is essential that companies operating within
the sector conduct their business in accordance with guidelines which will
ensure the highest ethical and
professional standards and promote Best
Practice within our Industry.
Our
Code of Practice has carefully been
compiled over the past two years based on seven years experience in the
Industry . It’s aim is to create clear guidelines to which all staff, agents
and directors must adhere to, to provide unique transparency into the
operations within our business and to promote best practice within our
Industry. Compliance with our Code will ensure that the very highest standards
of service are provided to our Clients. We are committed to resolving all
complaints to the satisfaction of our Clients, to acknowledge any errors made
in the past or in the future and to take all necessary steps and advice to
improve our services .
The
Group will continually examine its systems and procedures to conform to the
highest ethical standards. The company commits to train its Staff & Agents
and bring to their attention this Code.
Briddock
O’Sullivan Group Limited wholly supports any movement towards the regulation of
all businesses operating with our Industry.
CODE OF PRACTICE
1. Legislation & Guidelines
a) Briddock O’Sullivan Group Limited (
hereinafter referred to as “The Group”) shall conduct it’s business lawfully
and comply with all relevant Irish & EU legislation.
b) Agents of
the Group shall conduct their business lawfully and comply with all relevant Irish and EU Legislation
c) The
Group,it’s Agents and Employees shall comply with the terms of this Code
and with Guidelines issued from time
to time.
2.Marketing , Advertising and
Publication
a)
The
Group, it’s Agents or Employees shall
not knowingly misrepresent
It’s services or extent therof.
b)
The
Group, it’s Agents or Employees shall not provide false, misleading or exaggerated
information regarding it’s services or success thereof.
c) The Group and it’s Agents shall ensure that
all publications including
information brochures, website or marketing
literature does not provide any
false, misleading or exaggerated
information.
d)
All
collections statistics published shall be supported and properly substantiated.
e)
Terms
& Conditions shall be readily available and published on The Group’s website.
f)
Contracts
shall be written in plain English.
g)
The
Group shall take appropriate measures to ensure that marketing literature is
not issued nor cold calls made to those Companies that have registered
their preference on the ‘opt out” listing of the NDD in accordance with
guidelines of The Office of the Data Protection Commissioner of Ireland.
3. Conduct regarding Clients.
a)
The
Group, for ethical reasons, shall not actively solicit consumer type debt
portfolios example utility providers, credit card companies, consumer banking
institutions, mobile phone companies. The Group specialises in ‘Business to
Business’ type debt portfolios which may contain a proportion of consumer debt.
b)
The
Group shall make special arrangements from time to time to facilitate consumer
debt portfolios.
c)
The
Group shall at all times act in the best interests of it’s Clients and will
utilize all lawful collection processes at it’s disposal in pursuit of debtor
accounts referred. The Group is committed to applying exhaustive methods to
ensure resolution of all accounts referred.
d)
The
Group shall not undertake collection of any debtor accounts in the absence of a
signed contract (‘Service Agreement’) between the Group on the one part and
it’s Client on the other.
e)
The
Group shall not undertake collection of any debtor account in the absence of a
special declaration duly signed by it’s Client confirming that he/she is fully
aware of all the terms conditions and exceptions of the contract.
f)
The
Group shall not undertake collection of debtor accounts without Due Diligence
having been completed in respect of
each debt referred.
g)
The
Group shall not undertake collection of debtor accounts in the absence of proof
of debt being provided by the Client or confirmation from the Client that it
will be provided.
h)
The
Group will at all times adhere to and abide by terms and conditions of the
contract entered into by both parties.
i)
The
Group shall provide oral progress reports to the Client each month.
j)
The
Group shall provide written progress reports upon request by the Client.
k)
The
Group shall provide an on-line facility for it’s Clients to access their
accounts in real time.
l)
The
Group shall from the outset clearly outline it’s fee schedules and the agreed
premium will form part of the Contract.
m)
The
Group, unless otherwise agreed in writing , shall not charge any additional
fees such as legal or administrative charges or membership fee. The initial fee
agreed will be the only amount payable during the lifetime of the Contract
unless following instruction from the Client the debt is passed to Solicitors
for collection.
n)
The
Group shall make zero charges for debt portfolios where zero collections have
been achieved provided the terms and conditions of the contract have been met,
debtor accounts actually referred for collection and/or as otherwise agreed in
writing.
o)
The
Group’s refund policy shall be clearly explained including the terms conditions
and exceptions contained in the Contract. A hard copy of the Contract shall be
given to Client at inception and a further photocopy posted to the Client after
set-up.
p)
A copy
of the Group’s Terms & Conditions shall be available on it’s website.
q)
Upon
receipt of the signed Contract the Group shall undertake a “Customer Care
Introductory Call” with the Client wherein the terms & conditions of the
Contract will be reinforced.
r)
The
Group shall arrange a 3 monthly customer care visit to the Client’s business
address by the introducing Agent .
s)
The
Group shall ensure that all communications to it’s office from it’s Clients will
be responded to within a reasonable time-frame and that records will be
maintained of all such communications.
t)
The
Group shall request in writing to all Clients’ debtors that settlement
cheques are made payable to the Client
.
u)
The
Group shall not hold debtors’ cheques in trust.
4.Conduct regarding debtors.
a)
Only
lawful means shall be used in pursuit of settlement from debtor accounts.
b)
The
Group shall act at all times in a reasonable manner when dealing with debtors.
c)
The
Group shall take all reasonable precautions to ensure that the debt is lawfully
owing and that the identity of the debtor is proven.
d)
The
Group shall not make contact with a debtor before 9.00am or after 6.30pm or on
weekends/bank holidays.
e)
The
Group shall not act in a manner likely
to cause embarrassment or upset to the debtor.
f)
Phone
calls to the debtor shall be made at reasonable intervals .
g)
The
Group shall not issue false or misleading documents to the debtor. It shall not
imply that criminal proceedings will be brought when it is unable to do so or
when legal restrictions apply.
h)
Collectors
or other staff members who use pseudonyms shall be readily identified within
the Group.
i)
In the
case of disputed debts the Group shall cease collections activity until proper
and reasonable evidence of the debt and debt amount has been obtained from the
Client.
j)
The
Group shall try to resolve disputed debts by reasonable means.
k)
Site
visits by the Group’s collections representatives to a debtors business
premises shall be conducted in a matter that will not cause embarrassment to
the debtor nor to cause intimidation. All such on site visits shall be subject
to a pre-arranged appointment.
l)
The
Group shall not visit a debtor’s private dwelling unless specifically requested
to do so by the debtor.
m)
The Group
shall, in the case that a debtor is unable to settle a debt in full recommend
to the Client that a reasonable offer is accepted. This however is subject to
proof being provided by the debtor of his/her inability to settle the debt in
full at that time or at any time in the future.
n)
It is
the policy of the Group to issue a letter of appreciation ( a ‘Thank You
letter’ ) to all debtors who settle their account in full if requested by the
Client.
5. Confidentiality.
a)
The
Group shall keep in strict confidence any relevant information provided by the
Client or the debtor unless otherwise authorised.
b)
The
Group shall be in compliance with all relevant sections of the Data Protection
Act.
6. Complaints.
a)
The
Group shall have adequate processes to deal with Client and debtor complaints.
b)
A copy
of the Group’s complaints procedure shall be issued to the Client on request.
c)
All
complaints shall be handled in a friendly and efficient manner.
d)
All
written complaints shall be responded to in writing and within a reasonable
time-frame.
e)
All
complaints shall be recorded.
f)
By
agreement with the Client, the Group shall arrange for a member of it’s
Customer Services Unit to call to the former’s business premises to discuss
his/her complaint.
g)
Should
the Client or the debtor be dissatisfied by the Group’s response to his/her
complaint , the matter shall be referred directly to the Group’s Internal
Auditor.
7. All Transactions & General
Conduct.
a)
The
Group, it’s Agents & Employees shall act with responsibility and with
integrity in the day to day conduct of their business.
b)
The
Group shall ensure that all communications are in plain English.
c)
For
debtors residing in non English speaking Countries communications shall be in
English and in the official language of that Country.
d)
The
Group shall clearly specify it’s fee schedules and policy to all Clients.
e)
The
Group shall clearly identify activities that will be undertaken on behalf of
the Client and will provide , on request, copies of documentation /information supporting work carried out.
f)
The
Group shall provide adequate professional
training for it’s Agents & Employees.
g)
The
Group shall provide to it’s Agents & Employees training regarding this Code
and bring to their attention it’s terms & conditions .
h)
Breach
of the Code shall result in appropriate disciplinary being taken against the
Agent or Employee concerned. Continued breach will result in termination of the
Agency/Employment contract.
i)
The
Group shall ensure that all Directors, Agents & Employees shall sign a true
copy of this Code and that these will be held on record.
j)
The
Group has appointed an Internal Auditor in order to ensure that the Group, it’s
Agents, Directors & Employees are compliant with the terms of this Code.
Regular auditing procedures have been put in place to ensure compliance and to
promote Best Practice.
Auditor’s Statement
In conjunction with the publication of it’s updated
and comprehensive Code of Practice , The Group has established an Internal
Audit Section and appointed an Internal Auditor to ensure the Group’s overall
compliance with it’s code.
To that end, the Internal Auditor will devise and
publish an Audit Programme with a number of specific audits to be completed
between 31st March 2008 and 31st March 2009. These
specific audits will be selected on the basis of the Internal Auditor’s
judgement of priorities. Along with the published Audit Programme, the Internal
Auditor will undertake ‘ad hoc’ audits as required.
The Group intends that all internal audit reports and
recommendations will be published on it’s website’.