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GLOSSARY

Debts or receivables

The schedule of work a Member RMA processes in order to try and collect debts (also known as a Workflow)

On-going debts being collected

Profitable enough to warrant a cost investment

The levels of professionalism in approach an RMA can demonstrate e.g the training of its agents, how data is protected by the RMA, how secure are its payments process and client money, once debts have been collected etc

The arrangement whereby debt collection services are offered on a “commission on collection” basis

Criminal records bureau checks

A company, an organisation or individual who places debts for collection onto the Metwork platform

Group of debts/accounts/receivables

The layout of the debt information (usually on an excel file) that is transferred to the RMA.

  • (a) The age of the debt. The older it is the more difficult it is to collect
  • (b) the quality of the contact data supplied. Is there a phone number, an email, a work telephone number, the full address available etc? The less the amount of contact data available the more the Member has to do to find it.
  • (c) The level of dispute around the debts. Are people refusing to pay because services haven’t been carried out or information hasn’t been supplied?
  • (d) Amount of work already processed to try and collect the debts. How many letters, emails and calls have been sent/made and have the debts been placed with another agency prior to placing on Metwork?

RMAs based in the same country as the debt placer.

Formal checking process to establish the business credentials of a party

Secure online facility provided by RMAs (Metwork members) that supplies information and analysis to the debt placer on the progress of their accounts.

Laws and guidance governing the work of collection agencies

A formal procurement process where multiple bidders are invited to submit a detailed proposal

Materials and know-how that specifically are the creation of a particular party and as such are subject to ownership rights.

The debt collection system that the RMA( Metwork Member) works on.

A Receivables Management Agency or RMA, better known as a debt collection agency who may place bids to collect your accounts.

A company, an organisation or individual who places debts for collection onto the Metwork platform.

A rapid procurement process. Usually sent to “preferred potential bidders”

Amounts of debt that have been collected

If no debt has been collected in that reporting period the RMA must record a 0, as opposed to not recording a figure.

One payment based on a forecast of how much debt will be collected

Group of debts/accounts/receivables

Would be considered by all interested parties as a “fair proposal” based on the information supplied

Debts or accounts

The amount of debt that a member RMA predicts will be collected.

Receivables Management Agency/ Metwork member

A formal procurement process where multiple bidders are invited to submit a detailed proposal.

An amount an RMA will charge for finding someone who has disappeared from an address

Sending the debt amounts and personal information to the RMA so they can start collecting them

A legal action resulting in a court judgment awarded against the defendant

To cancel a placement of debts already on the Metwork platform

The difference it costs a Member to collect a debt and the commission they earn from collecting it.

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“You’ll find nothing more critical to united states than just leading to the commercial and you can personal better-becoming of our society,” told you MacMillan. “Even as we commercially kick off the extension now, we would like to inform you one while the the studio increases, so also commonly the efforts to support regional organizations and community groups.”

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From the Rideau Carleton Gambling establishment:Rideau Carleton Gambling enterprise technically exposed because Rideau Carleton Raceway into the September first, 1962 , as the Canada’s earliest-ever before five-eighths kilometer egg-shaped and contains started a button element of Ontario’s utilize racing neighborhood from the time. Because the gambling webpages was extra during the , the town off Ottawa has had approximately $6 Million a year and over $93 Billion in total repayments to own holding Rideau Carleton Gambling enterprise within this the fresh new Federal Capital Region. An additional $1+ Billion per year are committed to local sponsorships and nonprofits, gaining local organizations and the people contained in this. For the , OLG selected Hard-rock Ottawa while the effective the newest Local casino spouse for this web site. (belonging to Rideau Carleton Raceway Holdings Minimal) was working to make a different state-of-the-artwork activities studio which can soon give the latest iconic Hard-rock brand to help you Ottawa , and you will enliven the town including never before. The fresh facility is a huge rider regarding occupations creation that’s anticipated to employ more 700 regional citizens because business extension might have been accomplished. Rideau Carleton Gambling enterprise was work from the Hard rock International and you will influenced from the Ontario Lotto and you can Gaming Organization (OLG). For more information on Rideau Carleton Gambling enterprise, visit rideaucarletoncasino.

Included in the ceremony, Rideau Carleton Gambling enterprise, Coming Hard rock exhibited a great $20,000 contribution to help you Minwaashin Resorts, an area Indigenous ladies security.

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