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Credit Report Service Agreement

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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.

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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.
                                   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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