Dragon Argent: Collections Process
Dragon Agent
Debt Collection Process
Effective Date: 25 April 2026Introduction
This document sets out the approach taken by DA to the collection of outstanding fees for professional services. It sets out the steps DA intends to take if you fall into arrears. However, DA may depart from the process in this document depending on your particular circumstances. It applies to all invoices issued by DA to its clients and should be read alongside the terms of your engagement letter.DA is committed to maintaining constructive and professional relationships with its clients at all times. Where fees remain outstanding, DA will pursue payment in a fair, transparent, and proportionate manner in accordance with this process and applicable law.Payment Terms
Unless your engagement letter specifies otherwise, all invoices issued by DA are due for payment within 15 days of the date of issue. Payment must be made in full and in the currency stated on the invoice.Interest
If payment is not received by the due date, in accordance with the Terms of Business, DA may charge interest on the outstanding amount(s). The statutory interest rate in accordance with the Late Payment of Commercial Debts (Interest) Act 1998 is 8% per annum above the Bank of England base rate applicable on the date the payment fell due for business clients and 8% simple interest of non-business clients. Interest accrues on a simple daily basis from the due date until the date of payment in full. DA also reserves the right to claim reasonable recovery costs as permitted under the Act or otherwise at law.Collection Procedure
If an invoice remains unpaid after the due date: Stage 1: Reminder (30 days from invoice date)
If payment has not been received within 30 days of the invoice date, DA's finance team will send a written reminder requesting payment of the outstanding balance.Stage 2: Reminder with Interest Statement (45 days from invoice date)
If payment has not been received within 45 days of the invoice date, the fee earner responsible for your matter will write to you setting out the outstanding balance together with a calculation of accrued interest.Stage 3: Formal Demand (60 days from invoice date)
If payment has not been received within 60 days of the invoice date, DA's General Counsel will issue a formal demand for payment of the outstanding principal and all accrued interest. The demand will state that the matter may be referred to an external collection agent if payment is not received within the time specified.Stage 4: Referral to External Collection Agent (70 days from invoice date)
If payment has not been received within 70 days of the invoice date, DA may refer the outstanding debt to an appointed external collection agent. The collection agent will act on behalf of DA to recover the full amount due, including all accrued interest and any permitted recovery costs.Stage 5: Letter of Demand from Collection Agent (75 days from invoice date)
The external collection agent will issue a formal letter of demand for payment of the outstanding principal, accrued interest, and recovery costs. If payment is not received following this demand, further recovery steps may be taken, which may include the commencement of legal proceedings.—-
DA may in its sole and unfettered discretion vary the procedure for particular clients or matters. The timescales are indicative. Failure to follow the procedure is not a wavier of DA’s rights. An agreement to vary the procedure in once particular circumstance in relation to one invoice is not an agreement to vary it generally and to apply a bespoke procedure for you.DA may at any point assign or sell any debt to a debt collection agency.Invoice Disputes and Complaints
If you wish to dispute an invoice, you must notify DA in writing as soon as possible and in any event before the relevant payment due date. Your notification must set out the specific grounds for the dispute and identify the invoice or invoices concerned.DA will acknowledge your dispute and will endeavour to resolve the matter promptly. The collection timetable set out above will be suspended in respect of any genuinely disputed amount pending resolution, but interest will continue to accrue on the payable balance.If you wish to make a complaint our complaints procedure can be found here: https://www.dragonargent.com/complaints-procedurePayment Arrangements
If you are experiencing financial difficulty and are unable to pay an invoice in full by the due date, you are encouraged to contact your fee earner or DA's finance team as early as possible. DA may, at its discretion, agree to a reasonable payment arrangement. Any such arrangement must be confirmed in writing and will not take effect until confirmed by DA.Agreement to a payment arrangement does not constitute a waiver of DA's right to charge interest, which will continue to accrue unless DA confirms otherwise in writing.Right to Suspend or Cease Services
DA may suspend or cease the provision of services where fees remain outstanding beyond the due date, subject to any applicable professional conduct obligations and regulatory requirements.Data Protection
DA will process personal data in connection with debt collection in accordance with the UK General Data Protection Regulation and the Data Protection Act 2018. Where a debt is referred to an external collection agent, relevant personal data and correspondence will be shared with that agent for the purposes of recovering the outstanding amount. Further information about how DA processes personal data is set out in DA's Privacy Notice.Regulatory Obligations
DA is authorised and regulated by the Solicitors Regulation Authority. All collection activity will be conducted in accordance with the SRA Standards and Regulations and any other applicable regulatory requirements.Contact
If you have any questions about this process or about an outstanding invoice, please contact:collections@dragonargent.comReviewThis process is reviewed annually or following any material change in relevant legislation or regulatory guidance. The current version is effective from the date stated above.