General Business Conditions

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General Business Conditions of KNP Financial Services GmbH
(valid from July 17, 2018)


Services of KNP

KNP accepts domestic and foreign accounts receivable for out-of-court collection.

KNP provides services all around the printing and mailing of customer invoices, the electronic tracking of incoming payments, the allocation of payments, the mailing of internal payment reminders of the customer, and debtor management.

In case out-of-court collection is not successful, KNP shall pass the receivable on to a partner lawyer for further in-court collection. In case of insolvency, the lawyer will file the claim in the insolvency proceedings, if commercially reasonable and not disallowed by the customer.

The customer shall support KNP and the lawyer and shall provide the required information to them. If this is not done, the customer shall be responsible for related legal fees

KNP shall decide the manner of collection within the scope of the guidelines, if any, provided by the customer. A waiver of customer claims shall in any event require the customer’s consent, which also may be provided generally. The customer in principle shall not make agreements with respect to the receivable to be collected, without consultation with KNP. The customer forthwith shall inform KNP of all changes in relation to the receivable, such as a new address of the customer, or payments.

In the event that KNP receives the instruction not to effect further collection steps, or if the customer itself disposes of the claim to the disadvantage of KNP, or if the customer fails to make the invoiced prepayment of court fees, KNP may charge the collection and lawyer’s services provided to date pursuant to the regulation of the Federal Ministry for Economic Affairs, federal gazette (BGBl)141/1996 and pursuant to the Austrian Act on the Tariff of Lawyer’s Fees (RATG) as amended at the relevant time; this shall apply, too, if the customer instructs another enterprise with the further collection of the receivables given to KNP. In case of foreign debtors, KNP shall be entitled to forward the file to a foreign debt collection agency or to a foreign lawyer. The customer notes with agreement that these foreign business partners regularly charge fees of up to 25 % of the recovered capital.

KNP shall be entitled to forward the data of the debtors forwarded by the customer to a credit reporting agency, with regard to the provisions of the General Data Protection Regulation (GDPR).


Accounting

Incoming payments shall be applied initially to costs and interest and then to capital, regardless of whether received by KNP or by the customer. The collected default interest shall be due to KNP as all-inclusive payment for its services, regardless of whether the debtor arranged the payment to KNP, to the attorney-at-law assigned or to the customer.

If the customer is entitled to claim input taxes, then KNP is not entitled to invoice debtors the turnover tax arising with respect to the collection fees. KNP therefore must invoice the customer for the turnover tax; the same constitutes a transitory item to the customer.

If the customer disposes of the receivable to be collected in a manner so that KNP or the lawyers engaged by them do not receive the amounts to which they are entitled, such as collection fees or awarded costs, then KNP shall be entitled to invoice the customer for these amounts as fees.

If it turns out in the course of collection that the receivable to be collected does not exist, KNP shall be entitled to invoice the customer for the costs according to tariff pursuant to the regulation of the Federal Ministry for Economic Affairs, BGBl 141/1996 as amended at the relevant time, and pursuant to the RATG. 

In case of collection work relating to of foreign receivables, the lawyers’ charges and other cash disbursements shall be invoiced.

KNP shall be entitled to retain customer’s funds received for the satisfaction of all claims against the customer, and to set off its fee claims against the customer’s claim to payment of the funds received.


Limitations of liability

In principle, KNP does not accept original records. Unless otherwise required by compulsory laws, KNP does not accept any obligation to store the records received from the customer.

KNP shall not be obligated to monitor the expiry of the period of limitations of actions. KNP shall not be liable for a claim becoming statute barred, in particular not in case of receivables, which cannot be sued upon immediately due to economic considerations.

KNP shall be liable only for intentional and grossly negligent conduct.

In every case, the liability shall be limited to EUR 10,000.

KNP shall not be liable for the correctness and completeness of the information obtained by it through reporting agencies.

This limitation on liability shall apply also in favour of the lawyers instructed by KNP.


Final provisions

Collateral agreements and supplements to these business conditions shall be in writing in order to be valid.

Unless otherwise agreed, the guidelines and fees for collection agencies of the federal trade association of the real estate and asset trustees as amended at the relevant time shall apply.

In the event that one or several provisions of these conditions shall be or become ineffective, the remaining provisions of these conditions shall not be affected. In the stead of the invalid provision, such provision shall be deemed agreed, which comes closest to the economic purpose of the ineffective provision with regard to the intention of the parties.

The customer does not object to the electronic processing of the data delivered by it, and that the data of debtors be processed for the purpose of assessing credit worthiness by KNP.

The customer shall not be entitled to set off its claims against KNP, except acknowledged claims and claims found to be valid by a court of law.

The customer assigns to KNP all claims against any legal expenses insurance maintained by it, if any, with respect to the assigned debt collection matters.

Only Austrian law shall apply, to the exclusion of conflicts of legal provisions referring to foreign law.

All legal disputes in connection with this contract shall be subject to the exclusive jurisdiction of the courts having jurisdiction in commercial matters and local jurisdiction with respect to the first district of Vienna.

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