SOS Children’s Villages Kenya
TERMS OF REFERENCE (TOR): DEBT COLLECTION SERVICES
SOS Children’s Villages Kenya (SOS CV KE) is a member of SOS – Kinderdorf International, the largest private child welfare organization in the world. SOS CV KE implements programmes focusing on Alternative Family Care of children with inadequate parental care, education, health, youth empowerment, Family Strengthening and Advocacy.
The organization has a presence in 7 of the country’s 47 counties; these are Nairobi, Mombasa, Uasin Gishu, Meru, Kisumu, Busia and Homa Bay.
The debt collector will support SOS CV KENYA in recovery of due debts. Working closely with the finance department and respective locations, the debt collector shall be responsible to recover
outstanding debts and constantly keep both the debtors and SOS CV KENYA updated on the recovery process progress as well as maintain accurate files on the financial status of recovered customer accounts.
a) Tracing and locating all the handed over debtors and obtaining any other necessary information needed to succeed in the recoveries and reaching out to customers with overdue accounts by sending out notices of unpaid debt.
b) Setting up and maintaining the handed over debtors’ files and reporting on a monthly basis on the status of the various debtors handed over for the collection of debts as well as the successful collection of the capital amount collected. This shall include keeping full and proper books of accounts and records showing clearly all enquiries, transactions and proceedings regarding the debt settlement progress and sharing the same with SOS CV KENYA for updating the debtor account.
c) Negotiate and manage reasonable debt repayment plans with the handed over debtors to ensure full debt recovery.
d) As it may be necessary from time to time depending on the debt being handled, liaise with the lawyer (s) to write necessary demand letter (s) to assist in recovery of the debt and/or obtain necessary court orders to auction debtor (s) assets to be used to recover the debt.
e) As it may be necessary from time to time depending on the debt being handled, liaise with the auctioneers to execute the court orders to auction the assets of the debtor to recover the outstanding debt and have the same paid to SOS CV KENYA.
f) To submit to SOS CV KENYA all relevant enquiries and requests obtained from the debtors in respect of the debts outstanding.
g) To identify and evaluate the possible write offs of outstanding debts that prove to be completely unrecoverable with reasons detailing why a write off of the said debts should be considered.
h) To ensure that individuals and/or organizations with outstanding debts have been reported to the credit reference bureaus together with necessary supporting documentation and to ensure that such submission affects the credit rating of the debtors.
i) Prepare monthly debtor statements for all the outstanding debts and share the same with the debtors and SOS CV KENYA.
j) Perform other assigned tasks and duties necessary to support recovery of debts and enlist the efforts of senior management when necessary to accelerate the collection process.
a) Monthly debtor statements/report for all outstanding debts detailing status of the debts/ors.
The scope covers all SOS CV KENYA debtors at the national office and the locations and as directed by SOS CV KENYA.
6. CONSULTANT PROFILE
A minimum of ten (10) years of proven experience in debt collection and recovery.
The budget will be dependent on the proposed fee of the debt collector who will be selected based on a competitive bidding process.
8. EXPRESSION OF INTEREST
In addition to satisfying the requirements indicated under consultant profile above, interested firms should submit a proposal based on the Terms of Reference outlined above complete with:
a. The methodology: this should describe your detailed understanding of the assignment and objective of the exercise and proposed approach towards achieving the proposed deliverables.
b. Financial proposal/professional fee as percentage of paid up / recovered debts.
c. At least 3 reference letters with contact details of referees (phone and email) for similar services done within the last 10 years.
d. List of clients and debt value recovered last ten years.
e. Registration/incorporation certificate.
f. Tax Compliance certificates
g. Company profile
h. Any other documents to support/strengthen your proposal submission.
Proposals should be submitted by email to email@example.com quoting “Debt collection services for SOS CV Kenya” on the subject line to be submitted not later than Friday, January 29th, 2021 1700 hrs.