BY SUBMITTING A REQUEST WITH IDEAL RECOVERY & SETTLEMENT, AN IDAHO LIMITED LIABILITY COMPANY, YOU (THE “CUSTOMER”) HEREBY CONFIRM AND ACKNOWLEDGE THAT YOU READ, UNDERSTAND, AND AGREE TO THE FOLLOWING TERMS AND CONDITIONS.
FEES & BILLING
OUR TERMS OF BUSINESS are NET FIFTEEN (15) days unless prior arrangements have been made. The fifteen (15) days begin from the date Ideal Settlement & Recovery returns the emailed results and invoice to your office. There will be a fifteen (15) grace period. Invoices not paid within the fifteen (15) day grace period are subject to a twenty-five dollar ($25) late fee. Every subsequent thirty (30) days will result in an additional twenty-five-dollar ($25) late fee. Invoices not paid within sixty (60) days will result in collections actions and the pursuit of legal remedies.
FEES QUOTED on the Request Form and Fee Schedule are “per policy researched” and will apply where a policy or a Self-Insurer fails to provide coverage for any reason (i.e., policy exclusions). A definitive confirmation that there is NO POLICY IN PLACE or there is NO COVERAGE ON THE DATE OF LOSS is considered a successful search. ONLY AN INCONCLUSIVE RESULT OR A NO-HIT will result in ‘No-Fee.’
EXCEPTIONS TO THE FEE SCHEDULE may apply in cases involving lengthy research due to the age of the case. In these situations, we will outline any additional charges that will apply and seek your approval in writing before we commence the work.
IN SITUATIONS WHERE INCOMPLETE OR INACCURATE information has been provided to our office at the commencement of the trace. We will do our best to notify you of any additional information we may need to successfully process your order case.
If we are unable to identify policy limits or the definitive lack of coverage on the date of loss. We will report the limits of the policy on the date of loss provided. If there is no coverage on the date of loss, we will report the limits of the policy as ZERO (0), indicating the policy was not in effect on the date of loss. The only time there will not be an invoice for a LIABILITY LIMITS search is if we are unable to obtain the limits of the policy that was indeed in effect on the date of loss OR we cannot determine definitively there was no coverage.
POLICY DISCOVERY TRACES are not conducted on a “No-Find, No-Fee” basis. A $150.00 Processing Fee applies regardless of outcome. You will receive a Report Summary of all our findings if we do not find an applicable policy.
SHOULD WE OBTAIN ONLY PART OF THE INFORMATION REQUESTED, you will be invoiced only for that portion of the Request. (i.e., your request to us is to identify the insurer, policy number, and policy limits. However, if we can only identify the insurer, you will only be invoiced for the portion of the information provided.)
TURN AROUND TIMES FOR NORMAL LIABILITY LIMIT TRACES is 3-5 business days. Ideal Settlement & Recovery shall not be responsible for extended delays or failure in performance resulting from force majeure or other causes beyond reasonable control.
ALL RUSH cases are placed ahead of all NON-RUSH cases, however, the RUSH fee is waived when the requested information is not obtained or if the research has taken in excess of three business days.
TERMINATION of a submitted request can result in a termination fee depending on if a researcher has been assigned your case or work has been done on this case.
TO AVOID BEING INVOICED for policies already known to exist, please indicate the policy information on the Request Form when submitting your request. We have no way of knowing what policy(s), if any, you are aware of, unless they are made known to us at the time of your request submission. Policies noted on police reports are NOT considered valid policies, so we do not interpret them as known policies unless you specifically advise us that they are valid.
DEFINITIONS
INSURER shall be defined as the Carrier, Agent, Broker, or a Defendant who is found to be Self-Insured.
DATE OF LOSS shall be defined as the date provided on the Request Form. However, if a loss period is given, then the loss date shall be defined as any date during the reported loss period.
POLICY Discovery/IDENTIFYING THE INSURER shall be defined as providing the client with a name, address and telephone number of the Insurer insuring the named Defendant on the loss date specified. Should the Insurer no longer be in business, we will provide you with the Insurer name and last known address on record when their business operations ceased.
TERMINATION shall be defined as the termination or cancellation of any search or request at any point following our receipt of the Request.
PROCESS
SEARCHES ARE PERFORMED under Defendant's name(s) only. Policies found may or may not cover the target vehicle or property owned/operated by the Defendant. The client will be
invoiced in accordance with the Fee Schedule.
TURNAROUND time for our research is approximately 5-7 business days. However, we do offer several expedited services. All results will be emailed to the client immediately upon
completion of our research with an applicable invoice.
WHEN REQUESTING THE POLICY LIMITS TRACE of an established policy, you must include the policy number and/or claim number and ANY correspondence from the Insurance Carrier.
DISCLAIMER & Errors / Admissions Policy
1. Accuracy of Information
Ideal Settlement & Recovery, LLC (“Ideal Settlement & Recovery”) uses reasonable care to obtain information from sources deemed reliable. However, Ideal Settlement & Recovery makes no warranties or guarantees, express or implied, that any information is complete, accurate, or up-to-date. All services and information are provided “as-is” and “as-available”, and customers are encouraged to verify information independently.
2. Limitation of Liability
To the fullest extent permitted by law:
3. No Admissions of Liability
No statement or action by Ideal Settlement & Recovery or its representatives constitutes an admission of fault or liability. Corrections or clarifications are solely for informational purposes.
4. Indemnification
Customer agrees to indemnify and hold harmless Ideal Settlement & Recovery, its partners, affiliates, employees, agents, and contractors from claims arising from:
5. Customer Acknowledgment
By using services, Customer acknowledges they:
6. Governing Law & Jurisdiction
7. Employee & Communication Protocol
Employees and representatives cannot admit fault or liability in any communication. All claims or threats must be documented and reviewed according to internal policy.
Ideal Settlement & Recovery
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