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This is an agreement between a credit report company and a subscriber, where the subscriber agrees to pay the company a monthly subscription fee, and a per report fee. In return, the company agrees to provide the subscriber with credit reports on demand. This document in its draft form contains numerous of the standard clauses commonly used in these types of agreements; however, additional language may be added to allow for customization to ensure the specific terms of the parties’ agreement are addressed. This agreement can be used by small businesses or by credit reporting agencies that want to enter into an agreement to provide credit reports on demand.
This is an agreement between a credit report company and a subscriber, where the subscriber agrees to pay the company a monthly subscription fee, and a per report fee. In return, the company agrees to provide the subscriber with credit reports on demand. This document in its draft form contains numerous of the standard clauses commonly used in these types of agreements; however, additional language may be added to allow for customization to ensure the specific terms of the parties’ agreement are addressed. This agreement can be used by small businesses or by credit reporting agencies that want to enter into an agreement to provide credit reports on demand. SERVICE AGREEMENT THIS SERVICE AGREEMENT (the “Agreement), made as of ___________ [Instruction: Insert Date], by and between, by and between ___________ [Instruction: Insert Name of Credit Report Company], ___________ [Instruction: Insert Address] (“Company”) and ___________ [Instruction: Insert Name of Subscriber], ___________ [Instruction: Insert Address] (“Subscriber”). WHEREAS, Company is in the business of furnishing certain information, including but not limited to, identifying information, credit history, employment and public record information (the “Information”); WHEREAS, Subscriber desires to utilize Company’s services to obtain Information regarding certain individuals, firms or corporations (each a “Person”) for lawful purposes; NOW, THEREFORE, in consideration of the mutual promises, covenants, stipulations and agreements set forth herein, Company and Subscriber hereby acknowledge and agree as follows: 1. Reports. A. Provided that Subscriber fully performs all of Subscriber’s material obligations hereunder, upon request from Subscriber, in the manner described in paragraph 1(B), Company shall run and provide Subscriber with reports providing Information regarding the Persons for whom such Information was requested (each, a “Report”). B. Company shall provide each Report no more than ___________ (___) hours [Instruction: Insert Number of Hours] following Company’s receipt from Subscriber of a completed “Report Request Form”, a copy of which is attached hereto as Exhibit “A” (each, a “RRF”). Each RRF must contain adequate information regarding the Person for whom such Report is requested and comply with the terms and conditions contained herein as well as with all applicable Federal and State laws and regulations. 2. Fees. In full consideration of Company’s Services, Subscriber shall pay the following fees (the “Fees”) to Company: A. A subscription fee in the amount of ___________ Dollars, ($____)[Instruction: Insert Amount] per month, payable upon the first of the month; and B. A Report fee in the amount of ___________ Dollars, ($____)[Instruction: Insert Amount] per Report, payable within ___________ (___) days [Instruction: Insert Number of Days] following Subscriber’s receipt of the report. All unpaid Fees shall be subject to Company’s standard late payment fees and penalties, including but not limited to the accrual of interest at the legal rate. Further, if any Fees become more than sixty (60) days in arrears, Company reserves the right to refuse to run additional Reports for Subscriber. 3. Use of the Information. A. Subscriber agrees to comply with all the provisions of Public Law 91-508 (the “Fair Credit Reporting Act”) and all other applicable Federal and State laws and regulations. B. Subscriber will request Reports only for Subscriber's exclusive use, and Subscriber certifies that inquiries will be made only when Subscriber intends to use the Information for a permissible purpose, namely: i. In connection with a credit transaction involving the extension of credit to or review or collection of an account of the Person whom the Report is regarding ii. For employment purposes, provided that Subscriber provides advance written notice to the Person seeking employment that the Report is being requested. Reports regarding employees shall only be requested by Subscriber's designated representatives. Employees will be forbidden to attempt to obtain Reports regarding themselves, associates, or any other person except in the exercise of their official duties. iii. In connection with the underwriting of insurance involving the Person. iv. In connection with a business transaction involving the Person; provided that Subscriber certifies the legitimate business need for the Report. C. It is acknowledged that the Fair Credit Reporting Act provides that any person who knowingly and willfully obtains information on a Person from a consumer reporting agency under false pretenses shall be fined not more than Five Thousand Dollars ($5,000) or imprisoned not more than one (1) year, or both. 4. Liability. A. All Information and/or Reports received by Subscriber from Company are for the exclusive use of Subscriber and in the event that the disclosure of such Information and/or Reports leads to any claims or litigation, Subscriber shall indemnify and hold Company harmless from any liability, damages, cost or expense, including reasonable attorney's fees resulting therefrom. B. While the Information contained in the Reports is obtained from sources considered by Company to be reliable, Company does not guaranteed the accuracy of such Information and/or Reports. Company shall not be liable in any manner whatsoever for any loss or injury to Subscriber resulting from the obtaining or furnishing of such Information and/or Reports. C. Company and Subscriber shall each be liable to any third party claimant for their own acts of negligence with regard to the performance of its duties hereunder, and each shall indemnify and hold the other harmless for and from all such third party claims arising on account of their respective acts of negligence, or on account of their failure to perform any of their respective obligations hereunder, and any cost or expense, including reasonable attorney's fees, incurred in connection therewith. 5. Miscellaneous. A. In the event that any provision or part of this Agreement shall be deemed void or invalid by a court of competent jurisdiction, the remaining provisions or parts shall be and remain in full force and effect. B. This Agreement constitutes the entire agreement between the parties hereto with respect to the specific subject matter hereof and supersedes all prior agreements or understandings of any kind with respect to the specific subject matter hereof. C. Any modification to this Agreement must be in writing and signed by the parties or it shall have no effect and shall be void. D. This Agreement shall be governed in accordance with the laws of the State of _____________, [Instruction: Insert State], applicable to agreements to be wholly performed therein, with jurisdiction exclusive to the Federal and State courts located in the County of _____________ [Instruction: Insert County], State of ______________ [Instruction: Insert State]. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year hereinabove first written. COMPANY: ________________________________ [Instruction: sign] By: ___________________________ [Instruction: Insert Name of Signatory] Title: ___________________________ [Instruction: Insert Title of Signatory] SUBSCRIBER: ________________________________ [Instruction: sign] By: ___________________________ [Instruction: Insert Name of Signatory] Title: ___________________________ [Instruction: Insert Title of Signatory] Exhibit “A” Report Request Form
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