THE TRIADIC SYSTEM
AGENCIES · ATTORNEYS · LAW LIST PUBLISHERS
Agencies, attorneys and law list publishers have the common tie of being members of a Triadic system which endured for many years.
After an attorney meets our requirements of what we define as a “creditor rights specialist,” counsel must also be a member in good standing with a Law List Publisher (the “List”). This means that counsel meets the List’s business and professional elevated standards of what is expected from a commercial collection attorney. Upon acceptance as a listed member, the attorney qualifies for bonding protection through the Law List Bond, which can range anywhere from $1 million to $3.5 million. This is to insure against criminal business activity and proceeds embezzlement.
A “List” is a reference, which to an attorney equates to a substantial source of income. The List is made available to agencies committed to the “Triadic System.” There is always a waiting list of attorneys to become members of a List; consequently, the List Publisher has a great deal of influence, control, persuasion and police powers in this business relationship.
Agencies generally have very good working rapport with attorneys but sometimes find it necessary to turn to a Law List for assistance when the agency’s expectations of an attorney cannot be corrected or are not fulfilled. Accordingly, counsel should always put their best foot forward when it comes to servicing an agency like Williams & Williams.
Bypassing the Triadic System and attempting to use an attorney that is not a member of the Triadic system means that the forwarding party has no managing leverage, police powers or remedies if counsel’s performance falls short of expectations. Members in the Triadic System, including Williams & Williams, Inc., set parameters on how potential problems are resolved. Fortunately, our company has never had to resort to seeking relief under these guidelines. We subscribe to this mode of operation, as it incorporates due diligence with sound business practices that have been proven decade after decade. We also believe that “an ounce of prevention is worth a pound of cure.”