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Sample agreement

Sign Up with NorthStar:
Company Profile

(*Required information)
*Merchant Name: The name of your business
*Tax ID: Your federal tax number
*Address: Your business address
*City: Self explanatory
*State: Self explanatory
*Zip Code: Self explanatory
*Owner/Contact Person: Self explanatory
*Contact Phone: Self explanatory
Fax: Self explanatory
*Email Address: Self explanatory
*Estimated # of Checks/Month: Your average number of returned checks
*# of Locations and POS (point of service) locations requiring disclosure stickers: 

 

 NorthStar needs your number of store locations.  The disclosure stickers warn customers that you will be using NorthStar for your bad check collection service.  Put these stickers by your cash registers and perhaps on the entrance doors to your stores.
   If more than 1 location is entered and you want separate reporting for NorthStar's collection efforts, a "Company Location Worksheet" must be completed.  This can be done after the on-line agreement has been processed.
Payment Method Desired: Check Electronic NorthStar will return collected funds by paper check or electronic (ACH) deposit.  They remit payment twice per month (the 5th and 20th). If you select electronic, you must enter your banking information.
Bank Name: List your bank name if you want your money returned electronically.
Bank Routing Number: Self explanatory
Client Account Number: Self explanatory
Check Collections Options: Phase I Phase I & II  

Phase 1 is just for NSF checks - when collected you receive 100% of the face value plus 25% of the state bad check fee at no cost to you.

Phase 2 is for stop payment, closed account, and any NSF checks NorthStar cannot recover in its first phase collection.  The full value of a phase 2 check plus the full state bad check fee is divided equally (50/50) between NorthStar and its clients in second phase collections. 

Phase II Selection: Automatic Selective  

"Automatic" means phase 2 checks "automatically" go to second phase collection (NorthStar will do this for you).

"Selective" means NorthStar will not engage in second phase collection efforts unless you go to their web site and manually select these checks for collection (i.e. you control which checks are and are not processed for a 50/50 split).
Report to National Credit Bureaus:   YES NO
Legal Action to Include judgment/garnishment:   YES NO
Filing with local district attorney and/or law enforcement: YES NO
Requested length of time that items are to be in Phase II Collections: 6 Months 12 Months 18 Months
Return Items Mailed to Client Monthly?  If you want NorthStar to receive your checks, collect them and then return them after collection process, there is a fee for this.  NorthStar provides a copy of your checks (front and back) on its secure web site that you may print them off for free for as long as you are a NorthStar client. YES NO

Ready to sign up?   Use NorthStar's secure sign up link.