Credit Report Service Contract


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									This Credit Report Service Contract is an agreement whereby a credit bureau agrees to
provide a subscriber with credit reports regarding persons, firms and companies,
provided that the subscriber is requesting the credit check for a legal and enumerated
purpose. The agreement calls for an annual fee and a per report fee. 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. Use this contract
when entering into a service agreement with a credit reporting agency.

This services agreement (the “Agreement), is made this ____ day of _____________, 2______
[Instruction: Insert Date] (the “Effective Date”), by and between _______________
[Instruction: Insert Credit Bureau Name], __________________ [Instruction: Insert
Address] (the “Company”) and __________________ [Instruction: Insert Subscriber Name],
__________________ [Instruction: Insert Address] (the “Subscriber”).

WHEREAS, the 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:


Provided that Subscriber fully performs all of Subscriber’s material obligations hereunder, within
seventy two (72) hours of Company’s receipt from Subscriber of a fully completed “Report
Request Form”, a copy of which is attached as Schedule “A” hereto, containing adequate
information regarding the Person for whom such report is requested and complying with the
terms and conditions contained herein as well as with all applicable Federal and State statutes,
Company shall run and provide Subscriber with a report that provides Information regarding the
particular Person (the “Report”).


   A. In full consideration of Company’s Services, Subscriber shall pay the following fees (the
“Fees”) to Company:

    i.   a subscription fee in the amount of _________ Dollars, ($_____)[Instruction: Insert
Amount] per annum ; and

     ii. a Report request fee in the amount of _________ Dollars, ($_____)[Instruction:
Insert Amount] per Report.

    B. The Fees shall be due and payable within thirty (30) days of Subscriber’s receipt of
Company’s invoice indicating as such. After said period, 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 Subscriber fails to pay any Fees within ninety (90) days of
Subscriber’s receipt of Company’s invoice, Company reserves the right to refuse to run
additional Reports.

© Copyright 2011 Docstoc Inc.                                                          2

   A. The Subscriber will comply with all the provisions of Public Law 91-508 (the “Fair
Credit Reporting Act”) and all other applicable statutes, both state and federal.

    B. Reports will be requested only for the Subscriber's exclusive use, and the Subscriber
certifies that inquiries will be made only when the 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:
(a) to the Person seeking employment that the Report is being requested; and (b) to the Company
that the Report is regarding employment.

            (a) 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 the
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.


    A. All Information and/or Reports received by Subscriber from the Company, whether
written, printed or oral, is for the exclusive use of Subscriber, and in the event that the disclosure
of such information leads to any claims or litigation, the Subscriber shall hold the Company
harmless from any liability, damages or cost or expense including reasonable attorney's fees
resulting therefrom.

    B. The 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 and
shall not be deemed to have guaranteed the accuracy of such Information and/or Reports, such
Information and/or Reports being based, however, upon reports obtained from sources
considered by the Company to be reliable.

    C. Company and the Subscriber shall each be liable to any third party claimant for its own
acts of negligence with regard to the performance of its duties hereunder, and each shall

© Copyright 2011 Docstoc Inc.                                                             3
indemnify and hold harmless the other for and from all such third party claims arising on account
of its acts of negligence, or on account of its failure to perform any of its obligations hereunder,
and any cost or expense, including reasonable attorney's fees, incurred by the other in connection

IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year
hereinabove first written.


________________________________ [Instruction: sign]
By: ___________________________ [Instruction: Insert Name of Signatory]
Title: ___________________________ [Instruction: Insert Title of Signatory]


________________________________ [Instruction: sign]
By: ___________________________ [Instruction: Insert Name of Signatory]
Title: ___________________________ [Instruction: Insert Title of Signatory]

© Copyright 2011 Docstoc Inc.                                                           4

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