Veracity Terms and Conditions
CLIENT SERVICES AGREEMENT
This Client Services Agreement (this "Agreement"), is entered into by and between the undersigned (the "Client") and Veracity Credit Consultants LLC, a Colorado limited liability company ("VCC"). The Effective Date of this Agreement is the date of payment for the initial file set-up and membership fee, WHEREAS, the Client and VCC wish to enter into an agreement under which VCC will provide certain credit related services to the Client.
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows:
1. Term and Termination.
(a) Month to Month Term of Agreement. The term of this Agreement shall be monthly (month to month) and shall commence on the Effective Date as set forth above and shall continue for a period of successive months thereafter (the "Term") unless earlier terminated pursuant to Sections 1(b) or 1(c) below.
(b) Termination by the Client.
The Client may terminate this Agreement before the end of the Term at any time, for any reason or no reason, by providing written notice of termination to VCC, within three days prior to the expiration of any month. Failure to timely provide such notice of termination shall be effective to terminate this agreement as of the end of the following month.
(c) Termination by VCC Upon Default.
The Client will be in default under this Agreement if he or she does not pay any sum when due or breaches any other provision of this Agreement. VCC has the right to discontinue services and/or terminate this Agreement without prior notice if the Client defaults under this Agreement.
(d) Termination Date. In the case of an early termination of this Agreement pursuant to this Section 1, the Agreement will be terminated, in the case of a termination of the Agreement by the Client under Section 1(b), as of the date VCC receives the notice of termination, and in the case of a termination by VCC pursuant to Section 1(c), as of the date VCC elects to terminate this Agreement (each, a "Termination Date"). Fees for services performed before the Termination Date will be determined and billed in accordance with Section 3 below.
(a) Initial Set-Up. Upon receipt of this payment, VCC will perform the following set-up and related services (the "Initial Set-Up"): (i) set-up of the Client's profile, and (ii) the opening of the membership file. PLEASE NOTE: VCC does not provide credit reports. You are responsible for obtaining your credit reports. VCC's work is to assist you in evaluating your credit report and assisting in obtaining corrections or other actions to assist you in having your report be as accurate and, therefore, beneficial to you as possible.
(b) Monthly Services. Each month, VCC will provide the following services to the Client: (i) reminders about materials or information that the Client needs to provide to VCC, (ii) access to trained VCC credit consultants, (iii) review and analysis of correspondence from credit bureaus, creditors and others, including any credit report that is forwarded by the Client to VCC or received by VCC directly from such sources no later than three (3) days before the end of the current Billing Period (as defined below), and (iv) filing with the appropriate credit bureaus requests for verification or clarification of all disputed items properly submitted by the Client to VCC no later than three (3) days before the end of the Start Date or previous Billing Period.
3. Fees and Billing.
(a) Membership Fee. A $69.95 membership fee (the "Membership Fee") is due and payable on the Effective Date. Thereafter, the following occurs: (i) VCC receives this Agreement and any additional requested documents, properly completed and executed by the Client, (ii) the Initial Set-Up services have been performed by VCC, and (iii) the three-day and five-day rescission periods described on the signature page hereof and in the Notice of Cancellation Form attached hereto as Exhibit A have expired. PLEASE NOTE: In the event that you elect to rescind this Agreement within the specified period, your Membership Fee shall also be promptly refunded to you.
(b) Monthly Service Fee. Starting on the day the Membership fee becomes due and payable (the "Effective Date"), the Client will begin incurring a monthly fee of $45 (the "Monthly Fee"). The "Billing Period" for the first month of service will start with and include the Start Date and end on and include the 30th day following the Start Date. Subsequent Billing Periods will continue in such 30-day increments, until this Agreement is earlier terminated under Section 1, in which case the Billing Period for that month will end on Termination Date and the Monthly Service Fee for such month shall be $45.
(c) Billing and Payment, or to Terminate This Agreement Effective as of the End of Any Month. The Client will be billed for the Membership Fee on the day it becomes due and payable and will be billed for each Monthly Fee on the first day after the end of the relevant Billing Period (each, a "Billing Date"). The relevant fees will automatically be charged to the Client on the Billing Date according to the method of payment selected by the Client. VCC requires at least three (3) business days notice prior to the Client's Billing Date in order to change the Client's billing information or method of payment. VCC will assess a $10.00 fee on all returned checks. Invoices confirming that the fees have been charged to the Client shall be emailed to the Client on the Billing Date unless otherwise requested in writing by the Client.
4. Client Responsibilities. The Client agrees to provide VCC with any and all information, in a timely manner, needed to facilitate the services to be provided to the Client. The Client authorizes VCC, its employees and agents to prepare all necessary correspondence, either written or electronic, relating to VCC's services and to submit to VCC any additional information legally required to support those services. The Client agrees to forward immediately to VCC all correspondence from the credit bureaus, creditors or others relating to services provided by VCC. The Client understands that all information provided to VCC must be true and accurate to the best of the Client's knowledge.
5. Disclaimer of Guarantee or Warranty. VCC AGREES ONLY TO PERFORM THE SERVICES SPECIFICALLY DESCRIBED IN SECTION 2 ABOVE. VCC DOES NOT REPRESENT OR WARRANT THAT IT WILL ACHIEVE SPECIFIC RESULTS FOR THE CLIENT. VCC DOES NOT REPRESENT OR GUARANTEE THAT THE CLIENT'S CREDIT REPORT OR SCORE WILL BE AFFECTED BY THE SERVICES PROVIDED BY VCC OR THAT THE CLIENT WILL RECEIVE NEW CREDIT OR LOANS, CREDIT CARDS OR MORTGAGES AS A RESULT OF VCC'S SERVICES.
All notices and other communications hereunder shall be given in writing and shall be deemed to be duly given and effective: (i) upon receipt if delivered by electronic mail or facsimile, (ii) three days after deposit in the United States mail, and (iii) one day after deposit with a national overnight express delivery service. Either party may change the following contact information upon written notice to the other party. Notices shall be delivered or transmitted to:
Veracity Credit Consultants, LLC
Attn: Processing Department
535 16th St. Suite 700
Denver, CO 80202
The above address is the principal place of business for VCC. The registered agent of VCC for service of process is Corporation Service Corporation at 1560 Broadway, Denver, CO 80202.
7. Mortgage Brokers. In the event that Client is utilizing VCC's services as part of Client's dealings with a Mortgage Broker, Client authorizes Mortgage Broker to disclose Client's financial history to VCC and also authorizes VCC to disclose Client's financial information to said Mortgage Broker.
8. Severability. If any provision of this Agreement is held to be inapplicable or unenforceable, then such provision shall be construed, as nearly as possible, to reflect the intentions of the parties, with the other provisions remaining in full force and effect.
9. Indemnification. The Client agrees to defend, indemnify and hold VCC and its members, managers, employees and agents harmless from and against any and all claims, demands, actions, liabilities, costs or damages arising out of VCC's provision of services to the Client under this Agreement or the Client's breach of this Agreement, except for claims, demands, actions, liabilities, costs or damages arising out of VCC's gross negligence or willful misconduct. The Client further agrees to pay VCC's reasonable attorneys' fees and costs arising from any actions or claims eligible for indemnification under this Agreement.
10. Governing Law. The laws of the State of Colorado shall govern the construction and interpretation of this Agreement, without regard to conflict of law or choice of law provisions thereof.
11. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument.
12. Digital Signatures. The Client agrees that his or her digital signature is equivalent to a handwritten signature as provided in The Federal E-Sign Act.
13. Arbitration of Disputes. In the event of any claim or dispute between the Client and VCC arising from or relating to this Agreement, or the enforceability or scope of this arbitration provision, or of any prior agreement, the Client and VCC must resolve the claim or dispute by binding arbitration.
IF A CLAIM OR DISPUTE IS TO BE ARBITRATED PURSUANT TO THIS AGREEMENT, NEITHER THE CLIENT NOR VCC SHALL HAVE THE RIGHT TO LITIGATE THE CLAIM OR DISPUTE IN A COURT OR TO HAVE A JURY TRIAL ON THAT CLAIM OR DISPUTE. PRE HEARING DISCOVERY RIGHTS AND POST HEARING APPEAL RIGHTS WILL BE LIMITED. NEITHER THE CLIENT NOR VCC SHALL BE ENTITLED TO JOIN OR CONSOLIDATE CLAIMS IN ARBITRATION BY OR AGAINST OTHER CLIENTS OF VCC WITH RESPECT TO THEIR AGREEMENTS WITH VCC, OR ARBITRATE ANY CLAIMS AS A REPRESENTATIVE OR MEMBER OF A CLASS OR IN A PRIVATE ATTORNEY GENERAL CAPACITY.
This Agreement involves interstate commerce, and this provision shall be governed by the Federal Arbitration Act ("FAA"). The arbitration shall be conducted through, at the option of whoever files the arbitration claim, JAMS or the National Arbitration Forum ("NAF") in accordance with their procedures in effect when the claim is filed. For a copy of their procedures, to file a claim or for other information contact JAMS at www.jamsadr.com, toll free at 1(800)352 5267 or NAF at www.arb forum.com, toll free at 1(800)474 2371. The arbitrator's decision will be final and binding except for any appeal rights under the FAA.
This arbitration provision shall survive termination of this Agreement, as well as voluntary payment in full by the Client and any legal proceedings by VCC to collect a debt owed by the Client.
In the event that Client fails or refuses to pay amounts properly due and owing, VCC may elect to proceed by way of collection action within the courts of proper jurisdiction, without the use of any arbitration. Further, should any court of competent jurisdiction determine that this arbitration clause is not enforceable, then the remainder of the terms and restrictions contained therein shall apply to said litigation. Under such circumstances and in the event of any such litigation, no jury trial shall be allowed to any party. To the extent allowable by law, the exclusive jurisdiction and forum for the resolution of any dispute shall be located within the City and County of Denver, State of Colorado, applying Colorado law without regard to choice of law principles.
14. Entire Agreement. This Agreement represents the final and entire agreement between the Client and VCC and shall supersede all other agreements between the parties regarding the subject matter hereof.