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AFFILIATE AGREEMENT


Affiliate Agreement

This AFFILIATE AGREEMENT ("Agreement"), effective as of September 24, 2020, ("Effective Date"), is hereby made by and between BONAFIDE FUNDING LLC, a protected Delaware series limited liability company doing business as ("d/b/a") “'BONAFIDE FUNDING” and ("Affiliate") with a business address of , ,     

Whereas Company desires to provide services as described herein, and Affiliate desires to participate with said Services by engaging potential leads for the sale(s) of such Services, the parties acknowledge and agree as follows:

  1. THE SERVICES. Company offers credit building services and financial broker services (“Services”) to consumers and businesses both directly and through affiliate relationships. Credit building services may include consumer credit restoration, debt settlement, the use of authorized user tradelines, establishing primary consumer accounts, establishing business lender compliance and establishing business vendor or credit accounts. Financiak services may include personal loans, business loans, establishing credit card accounts, or establishing other methods for access to credit and/or cash. These services may be offered individually or packaged as a group of Services. Services may be performed by Company or by one of it’s affiliates, joint venture partners or subsidiary companies. Services offered are determined on a case by case basis depending upon the end client’s goals and needs.

  2. AFFILIATE RELATIONSHIP. Company grants Affiliate the non-exclusive right to market to and solicit for leads to which Company can sell it’s Services. Affiliate acknowledges and agrees that: 2.1 It is an Independent Contractor and not an employee or partner of Company, it’s affiliates, subsidiary companies, or partners. At no time shall Affiliate present it’s self as being an employee, director, member, or partner of Company to any other party. 2.2 As an Independent Contractor, Company will issue Affiliate an IRS 1099- MISC form accounting for all monies paid to Affiliate throughout the year. 2.3 As an Independent Contractor, Affiliate is responsible to pay all taxes owed to local, state, and federal agencies as a result of the monies received from Company including but not limited to state and federal income tax, employment security tax, social security tax, and disability benefits tax. 2.4 Commission paid to Affiliate for each sale of Services made to Affiliate’s referral constitutes full payment and no other compensation will be due. 2.5 This Agreement is non-transferable. If Affiliate elects to develop other working relationships with individuals or companies to solicit for leads to provide to Company, Affiliate acknowledges that Company has no relationship with, or duty to the other parties, including no obligation to contract with or compensate the other parties. 2.6 Affiliate acknowledges and agrees that in order to receive full benefit of commissions as outlined in Exhibit A. COMMISSION STRUCTURE & QUOTA, it will fully pre-qualify, review, and package loan application for it’s leads where financing is elected utilizing Company’s loan application documents prior to submitting the lead to Company. 2.7 Affiliate may elect to simply refer pre-qualified leads to Company without reviewing and packaging the loan documents. In such circumstance, Affiliate’s commission payout will be reduced. See Exhibit A.

  3. OWNERSHIP; GRANT OF RIGHTS, AUTHORITY. Under no circumstances does Company transfer rights or ownership of Company’s Services, software, or intellectual property to Affiliate. 3.1 Upon submission of lead information to Company by Affiliate, Affiliate acknowledges that it no longer retains exclusive ownership of the information. Company may, upon receipt of lead contact information, solicit for sale any product or Service offered by Company, its subsidiary companies, affiliate companies, joint venture partners, board members, officers, directors, or others as deemed appropriate by Company with no further notification to Affiliate. 3.2 Affiliate shall have no authority to bind Company to any agreement, contract, or terms of sale and shall not act in any way as to present itself to have such authority.

  1. MARKETING. Affiliate agrees that in utilizing Company’s website, web links, documents, or other Company marketing materials or other material available, Affiliate will not alter links or their contents in any way except as expressly authorized in writing by Company. 4.1 Affiliate understands and agrees that it will not make any promise or guarantee of any specific result to it’s leads related to the Services provided by Company. 4.2 Affiliate is prohibited from creating any printed, online, or other marketing materials that reference the Company name or logo, including that of Company’s subsidiary companies, without first submitting such material to Company for written approval. 4.2 Company may at it’s own discretion review Affiliate’s marketing materials for appropriate content. If Company deems any material to be inaccurate or inappropriate related to Services provided by Company, Company shall notify Affiliate in writing with a 3-Day period for removal of the inaccurate or inappropriate material.

  2. FEES AND PAYMENTS. There are no fees due to Company from Affiliate for the non-exclusive right to refer qualified leads to Company. Company shall pay Affiliate a commission for closed sales from leads furnished by Affiliate. Sales of services provided by Company are considered closed once payment from the client (formerly the lead) has cleared Company’s bank account. If the client fails to make payment to Company, no commission will be earned by or paid to Affiliate. In the case of a third party being responsible for payment to Company for services provided to the client, commissions will be considered earned once the third party payment has cleared Company’s bank account. Any commission paid to Affiliate on a sale that later results in any portion of the client fee being returned to the client or the lender will result in the ‘claw-back’ of the Affiliate paid commission from future commissions. 5.1 Affiliate understands and agrees that Company must contract directly with Affiliate’s leads to be able to collect fees from the lead and make commission payment to Affiliate. In no case will Affiliate collect fees from the lead/client on behalf of Company unless Company has agreed on a case by case basis to perform Services on a fulfillment basis only with Affiliate acting as the ‘Consultant’ for it’s client. 5.2 Company’s commission structure is designed to reward Affiliate’s who put time and effort into this affiliate relationship as evidenced by the quantity of successful sales made each week. See Exhibit A – Commission Structure for commission payout information. 5.3 Ancillary services sold to client as part of the business credit building process are not eligible for commission earnings. An example of an ineligible ancillary service is the establishment of a business phone service or virtual office for the client’s business. 5.4 Affiliate shall earn commissions on initial Services sold to client. Client agreement with Company typically carries a 6-month term. Services sold to repeat clients are not eligible for commissions. Example: Affiliate brings lead to Company. Company sells financing services and credit repair services to lead who is now a client. Both services are fulfilled, client pays fees, Company pays Affiliate commissions on these services. Several months after all services are delivered, client returns wanting more services. If at least 6 months have past since client first enrolled in Services, no commission will be paid to Affiliate for the new Services unless Affiliate brings the client back. Clients who return to Company on their own will not generate Affiliate commissions. 5.5 Affiliate shall not be entitled to commissions on the sale of Services to any person or business that has a prior relationship with Company, it’s owners, members, partners, or subsidiary companies. Commissions shall only be applicable to the sale of Services to new leads with no prior relationship regardless of the circumstances surrounding the relationship.

  1. NON-CIRCUMVENTION. Company and Affiliate do hereby decree intent to be legally bound, hereby irrevocably agree not to circumvent, avoid, bypass, or obviate one other directly or indirectly, to avoid payment of fees, commissions, or other form of compensation in any transaction with any lead introduced to Company by Affiliate.

  2. AFFILIATE INDEMNIFICATION. Affiliate agrees to indemnify, defend and hold harmless COMPANY and its officers, directors, employees, shareholders, customers, agents, successors and assigns from and against any and all loss, damage, settlement or expense (including legal expenses), as incurred, resulting from or arising out of any acts or omission of Affiliate in the distribution or use of the Services.

  3. TERM AND TERMINATION 8.1 TERM. Unless terminated earlier as provided herein, this Agreement shall have a term of one (1) year commencing from the Effective Date. This Agreement shall automatically renew for successive one (1) year term(s) if Affiliate meets sales goals as outlined in Section 9. REFERRAL GOALS herein. Regardless of sales made, the parties may extend the term of this Agreement for additional one (1) year periods by written agreement executed no later than thirty (30) days prior to the expiration of the then current term. 8.2 TERMINATION FOR CAUSE OR CONVENIENCE. Either party may terminate this Agreement at any time for any reason. Upon Termination, an accounting of commissions earned but not yet paid shall be made by Company and provided to Affiliate. Affiliate shall be entitled to commissions from the sale of Services on any lead that Affiliate provides prior to a written Notice of Termination served by either party upon the other, so long as the sale is pending and the lead has committed to making the purchase of a service within fourteen (14) days of the written notice date.

  4. COMPLIANCE WITH LAWS. Company warrants that in performance of work under this Agreement it has complied with or will comply with all applicable federal, state, local laws and ordinances now or hereafter enacted. Affiliate warrants that in performance of fulfilling the Services under this Agreement it will comply with all applicable federal, state, local laws and ordinances now or hereafter enacted.

  5. GENERAL10.1 NOTICES. All notices shall be sufficient only if delivered by certified or registered US mail, return receipt requested, to either party at its address below or by email as listed below. 10.2 CONTROLLING LAW AND JURISDICTION. This Agreement shall be governed, controlled, interpreted and defined by and under the laws of the State of Texas (COMPANY’s state of registration if left blank) and the United States, without regard to the conflicts of law provisions thereof. The exclusive jurisdiction and venue of any action with respect to the subject matter of this Agreement shall be the Superior Court of Texas State for Travis County or the United States District Court jurisdiction of COMPANY’s registered county and state and each of the parties hereto submits itself to the exclusive jurisdiction and venue of such courts for the purpose of any such action. In the event any dispute arises and claims are made between the parties, the successful or prevailing party shall be entitled to recover attorney’s fees and costs from the non- prevailing party. 10.3 WAIVERS AND AMENDMENTS. No failure or delay by either party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial waiver thereof include any other right, power or privilege. This Agreement may not be amended, changed, discharged or terminated except by in writing signed by duly authorized officers of the parties. 10.4 SEVERABILITY. In the event that any provision of this Agreement shall be unenforceable or invalid under any applicable law or be so held by applicable court decision, such unenforceability or invalidity shall only apply to such provision and shall not render this Agreement unenforceable or invalid as a whole; and, in such event, such provision shall be modified or interpreted so as to best accomplish the objective of such unenforceable or invalid provision within the limits of applicable law or applicable court decision and the manifest intent of the parties hereto.10.5 RELATIONSHIP OF THE PARTIES. In fulfilling its obligations under this Agreement, each party shall be acting as an independent contractor. This Agreement does not make either party the employee, agent or legal representative of the other. Each party shall be solely responsible to pay it’s own local, state and federal taxes and licensing as required in each jurisdiction. 10.6 ENTIRE AGREEMENT. This Agreement constitutes the entire Agreement between the parties hereto concerning the subject matter of this Agreement; and there are no conditions, understandings, agreements, representations, or warranties, expressed or implied, which are not specified herein.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement by persons duly authorized as of the date and year first above written.

Affiliate Company Name:

Authorized Representative:

 

Affiliate Agreement Exhibit A – Commission Structure
 

1. COMMISSION STRUCTURE & QUOTA. To encourage Affiliate to actively participate in this Agreement, Company requires a minimum of two (2) successful sales per month. Services can be a combination offered by Company to comprise the minimum number of sales. Each Service is counted separately. One lead could participate in two (2) Services that each generate payments to Company, therefore one lead could fulfill the minimum monthly requirement. 1.1 To allow new Affiliates time to become familiar with Company’s Services, and time to design and employ strategies to produce qualified leads, for the first sixty (60) days after the Effective Date of this Agreement, known as the Grace Period, Company will payout as though each week Affiliate has met the quota so long as Affiliate is producing at least one lead each month with or without a sale. After the Grace Period, Company will follow the guidelines below. 1.2 From time to time, Affiliate may experience circumstances beyond it’s control that prevent Affiliate from producing a minimum of two (2) successful leads per month. Company reserves the right to, at it’s sole discretion and for any reason, terminate the Affiliate Agreement. At no time during this Agreement will Company payout percentages lower than indicated herein except as described in Section 5. FEES AND PAYMENTS as related to any ‘claw-back’. Company reserves the right, at it's sole discretion, to payout percentages higher than indicated herein 1.2 COMMISSION PAYOUT GUIDELINE. Commission amounts vary based upon service sold, lender restrictions, and volume of successful leads produced each month by Affiliate. Company agrees to pay Affiliate the following commissions based upon the net fees received by Company from lead/referral/client/client’s lender.

2. Description of Services.

Personal & Business Funding – A 5% commission of total amount of funding (personal and/or business) secured by Company for client referred by Affiliate shall be paid to Affiliate.

Business Credit Builder – 20% commission of total fee shall be paid to Affiliate upon referred client whom contracts Company for services.

Credit Restoration - A one-time flat fee of $50.00 USD shall be paid to Affiliate upon referred client whom contracts Company for Credit Restoration services.

PAYMENT TERMS. Company shall make payment to Affiliate each Friday for all commissions earned the preceding week. Affiliate Commissions are earned upon fees paid by Affiliate’s Lead/Client/Client’s Lender clearing Company’s bank account.

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Document name: AFFILIATE AGREEMENT
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October 1, 2018 8:45 pm CDTAFFILIATE AGREEMENT Uploaded by Bonafide Funding - info@bonafidefunding.com IP 73.8.114.87