CONTRACT (10)


REQUIRED DOCUMENTS TO COMPLETE YOUR CONSULTATION:

In order to expedite your loan approval process, please send the following items that are marked to our office. You may scan and email them to info@creditlinecap.com or fax to: (323) 285-5626

____ Application

____ Contract For Services

____ Articles of Incorporation

____ Copy of Your Driver’s License

____ Utility Bill

____ Copy of a Voided Check for Payment

____Social Security Card

____ Login Information to  www.creditchecktotal.com

Username:  

Password:  

                                                 

***Please note: Your file will NOT be started until all documents are received. If you cannot obtain certain items please contact your sales representative for acceptable alternative documentation.

Initial:

CREDIT LINE CAPITAL

CONTRACT FOR SERVICES

This AGREEMENT made this , by and between ALLADO CO. dba CREDIT LINE CAPITAL / CREDIT LINE CAP a Delaware Limited Liability Corporation having offices at 106 ½ Judge John Aiso St. #738, Los Angeles, CA 90012, (the Company), and   , (the “Borrower/s), having its principal

place of business at  

and Business name of

collectively referred to as the (“Parties”).

In consideration of the mutual promises hereinafter contained, the Parties hereto promise and agree as follows:

The types of services we will be providing you include, without limitation, establishing multiple Credit Accounts on behalf of you and/or your business; and general credit consulting. For the purpose of this letter agreement, “Credit Accounts” means credit lines, credit cards, credit facilities, accounts, loans or similar financing mechanisms, which may be secured or unsecured, guaranteed or not, or established through your business or person/s.

Credit Line Capital will be providing you with credit consulting and financing services for an initial term of 6 months from the date this letter is signed by you. This term will automatically extended for an additional period of 6 months if our services continue beyond the initial term. You may terminate our services only upon our failure to perform as agreed for not less than 30 days.

We expect to help increase your Dunn&Bradstreet/Experian/Equifax/FairIsaac/TransUnion/Paydex credit score and, thereby, maximize your borrowing power. In order to provide you these services, we may evaluate your creditworthiness by obtaining a credit report or background information about you and/or your business from other appropriate sources. Accordingly, you will be asked to complete an application detailing certain personal, business, and financial information, and you agree to take any other actions reasonably requested to assist us in obtaining information and credit opportunities as may be required.

You will not be required to pay us an up-front fee. One of our goals is to help you obtain an acceptable Dunn&Bradstreet/Experian/Fair Isaac/TransUnion/Paydex credit score, reduce revolving accounts to less than forty five percent (45%) of the limit; limit, reduce or remove excessive inquiries or other material derogatory information from your credit report.

Initial:

Once we have verified newly established Credit Accounts opened on behalf of you or your business, you agree to the following fees:

  • 10% of Gross Approvals Upon our Verification of Newly Established Credit Accounts with Credit Lines Aggregating a minimum of $5,000.00 USD to be Paid In Full Within 48 Hours After Receiving Invoice for Payment

You agree that fees or any other amount due may be automatically deducted via ACH or electronic/substitute check to your bank account by us. You acknowledge that these fees are non-refundable once we have met the minimum threshold for charging the respective fee. Moreover, you specifically waive any option to, and agree to not, cause any chargeback/dispute of fees once processed. The below paragraphs describe our conflict resolution procedures to which you agree.

In addition to how we collect payment from ACHing the business bank account which it states on page 3; You agree that fees or any other amount due may be either automatically deducted via ACH or electronic/substitute check  to your bank account by us; or pay via Merchant Processing from a dedicated creditor of Credit Line Capital’s choice, or deliver payment via a Paypal transfer method.

Due to the nature of our services, you agree to not apply, establish or cause the opening of new Credit Accounts or modify your existing Credit Accounts during our engagement term without the prior written consent of us. Further, you will provide guaranties and/or collateral at such times and to such extent as necessary for the established Credit Accounts.

All billings will be made in accordance with the Fee Policy Statement, and you agree it is a material basis of, and incorporated into, this letter agreement. Please carefully review the Fee Policy Statement and contact this office immediately to discuss any questions you might have. Although we ask that you sign and return a copy of this letter, please understand that even if you do not do so, your acceptance of our services constitutes your acceptance of the terms of this correspondence and the accompanying policies for the duration of our engagement.

However, if you breach any this or any other agreement between you and us, you agree to pay us a liquidated damages in the amount of the fee that would otherwise be charged had we met our proposed funding, minus any fees actually paid by you.

INDEMNIFICATION:

You specifically acknowledge that you are solely responsible for payment of any debts incurred through the Credit Accounts and waive any claims against us. Further, you hereby agree to indemnify, defend and hold Credit Line Capital, its subsidiaries, and affiliates, and each of their successors, licensees, distributors, and assignees and their respective officers, owners, executives, employees, attorneys, and other agents, harmless from and against any and all claims, actions, judgments, damages, losses, penalties, liabilities, costs and expenses of whatever kind and nature imposed on, incurred by, or asserted against us or the foregoing parties arising out of or in connection with the services provided by us or any breach by you of any agreement between you and us.

Initial:

Credit Line Capital is not responsible and will not be held liable for any negatively adverse decisions or results on your credit report and credit scores that may occur during its credit consulting period and thereafter. You agree to not hold Credit Line Capital liable for any and all Credit Accounts on your credit report that are negatively affected during the consulting period.

ARBITRATION:

We agree that all disputes arising out of our engagement shall be brought before a neutral mediator. If the parties are still unable to reach an amicable solution, each party shall submit to binding arbitration in Los Angeles County, California. If we are required to bring an action or otherwise spend time attempting to collect amounts due us for services rendered, you will also be responsible for our costs and reasonable attorney’s fees, if we prevail in such proceedings.

This letter shall be governed by the internal laws of the State of California. This is the complete and final expression of our agreement with regards to your retention of us and our services to you. No amendment of this letter is effective unless made in writing and signed by you and us. If any provision of this letter is unenforceable, then the unenforceable provision will be severed and the remaining provisions will be enforceable.

Unless otherwise required by law, any notice will be given by delivering it or mailing it by first class mail to your and our last known address. Notice to one party will be deemed to be notice to all parties. Where a notice is required, we agree that 10 days prior written notice will be reasonable.

If you are a company, you and the undersigned represent and warrant that the signatory hereunder is authorized to execute this letter on your behalf and there are no further company proceedings or authorizations necessary prior to its enforcement.

We thank you in advance for the opportunity to be of assistance to you and look forward to working with you. Should you have any questions, please feel free to contact us.

POWER OF ATTORNEY:

To all persons; be it known, that the undersigned as grantor hereby makes and grants a Limited and specific Power of Attorney to Credit Line Capital and its consultants, to act as my Attorney-in- Fact. My Attorney -in-fact shall act in my name, place and stead in any way which I, myself, could do if I were personally present, with the respect to the following matters:

  1. To the extent that I am permitted by the law to act through an agent.
  2. To obtain any and all forms that my Attorney-in-Fact may deem necessary

for the effective representation of my interest in this matter.

  1. To request and receive any and all documents that are alleged or claimed to be my responsibility and to sign on my behalf for the completion of my business interest.

This Power of Attorney shall be revoked upon:

  1. Resolution of the above referenced matter.
  2. If the grantor does not wish to be represented any longer: and/or
  3. If the Attorney-in-Fact does not wish to represent the grantor any longer.

Initial:

FEE POLICY STATEMENT

This Fee Policy Statement (“Policy Statement”) describes how we, Credit Line Capital, bill for services and details our policies and procedures as they relate to the provision of services to clients. We believe that we can serve our clients better if they know about our policies at the beginning of our engagement.

We make no guarantees as to the interest rates or terms in which credit may be granted to our clients by lenders and other financial institutions. We may, and generally will, apply for credit lines on behalf of our clients at banks and institutions who may report to the credit bureaus. We cannot guarantee that such banks or institutions will not report to our clients’ personal credit or business credit. These decisions and their impact on our clients’ credit, either positive or negative, are completely out of our control.

Our fees are not contingent on our clients’ needs for financing or lack thereof. Accordingly, clients may not cancel, withdraw, intentionally cause to be denied, or fail to follow through on a credit application unless given permission in writing by us. Additionally, if a client does not provide us with an approval or denial letter from the lender within 30 days of submitting an application for credit, such application will be deemed approved and we will include the requested amount in calculating total credit obtained and fees owed. Once the aggregate credit limit is achieved, fees shall be considered fully earned and non-refundable.

We hold the right to bill our clients automatically using an ACH (Automated Clearing House) or electronic/substitute check provided or approved by the client. We also hold the right to bill our clients using Balance Transfer methods from approved credit line accounts. We also hold the right to bill our clients via Merchant Processing and accepting credit card payments. We also hold the right to bill our clients via electronic money transfers including PayPal and Venmo. All amounts due and owing are billed upon verification of newly established accounts on behalf of the client with the requisite aggregate credit lines. If we are unable to collect fees due for any reason, we will attempt to ACH or electronic/substitute check the client’s bank account up to 3 times. Balances unpaid after 3 attempts will accrue interest at an annual rate of 15%, compounded daily. We may suspend or terminate our services if any statement is left unpaid for more than 15 days. All unpaid charges at the expiration or termination of services will become immediately due and payable. Additionally, we may automatically ACH or electronic/substitute check up to $250 on a client’s bank account for fees associated with accessing his or her credit reports and/or membership to various credit/banking organizations.

Upon a client’s failure to pay fees when and as due, we will provide the client with 5 days written notice, at the end of such time we may suspend our services until all fees are paid. Additionally, we may terminate our services if provision of such services would be unlawful or our services have remained suspended for more than 10 days due to failure to pay fees. If we elect to terminate our services, clients will not be entitled to a refund or return of any funds paid to us.

Initial:

I hereby accept this contract and all the terms/conditions as stated above.

Name:  

Title:  

Date:  

Signature Below of Contract

 

 

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Document name: CONTRACT (10)
Unique Document ID: b781a61099b37047c7122edf580f7965add1362e
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May 2, 2019 5:55 pm PSTCONTRACT (10) Uploaded by LIGHTNING CANNABIS LOANS - info@lightningcannabisloans.com IP 77.234.44.150