FUNDING CONSULTING AGREEMENT
This FUNDING CONSULTING AGREEMENT (hereinafter referred to as “Agreement”), dated
, (“Effective Date”) between BONAFIDE FUNDING LLC., a Delaware protected series Limited Liability Company (hereinafter referred to as “Consultant”) and , an individual (hereinafter referred to as “Client”) with a personal email address of . This agreement shall remain in effect for a six (12) month period from the Effective Date. September 25, 2020
Client, with the guidance of the Consultant, shall obtain auto loans, personal loans, commercial loans, business loans, credit lines (SSN/EIN), vendor lines of credit, corporate credit lines, credit cards, equipment funding and/or any other credit or loan type from various financial institutions, lenders, vendors and creditors in a reasonable and timely manner.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained in this Agreement, Client and Consultant agree to the following terms and conditions:
1. Client, throughout the duration of the funding process, shall not engage in any litigation, personal or otherwise, with any domestic bank, private lender, credit union, or any other financial institution in the United States.
2. Consultant shall assist Client in obtaining personal and/or corporate credit cards, term loans and other credit products from various financial institutions, private lenders, creditors or other lending sources.
3. Client agrees to pay Consultant a consulting success fee of ten (10) percent based on the gross limit of each individual credit line, credit card, loan, and/or any other funding product acquired for Client as a result of Consultant's efforts. This fee shall be due within two (2) days of each successfully executed credit account, credit card, loan or any other form of credit. If credit accounts or loans are approved at various times, the consulting fee due date is based upon each successful execution. This consulting fee is separate from any costs, advance payments, administrative fees, points charged, closing costs, due diligence costs, interest charged, etc., assessed or imposed by any direct lender or other party not controlled by Consultant necessary to the successful execution of credit or funding.
4. Client agrees and understands that compensation is for Consultant's full effort and cooperation in obtaining and activating all credit lines, credit cards and/or any other source of funding. Duties that must be performed by Client to achieve successful credit offers are as follows:
a) Communicate in a timely manner with all underwriters and lenders. Client agrees to fully respond and comply with all requests made to Client within twenty four (24) hours from receiving the communication. Any written or electronic communication from lenders/underwriters shall be forwarded electronically, via scan and emailed to Consultant no later than twenty four (24) hours from the date of written or electronic communication from lenders/underwriters.
b) Client understands that any reduction in accessible credit due to negative or derogatory activity due to Client’s action(s) or absence of action(s) will cause this agreement to terminate. In such instance, Client agrees to pay Consultant a flat fee of One Thousand United States Dollars ($1,000.00) for it's efforts made in addition to any commission earned as a result of credit approvals already granted.
c) Client agrees to establish any necessary bank/merchant accounts required to receive credit approvals.
d) Client agrees to provide Consultant with access to their active credit monitoring service throughout the process.
e) Client understands and agrees they are responsible to make purchases, and for timely payment, of vendor orders that create business trade references, when business credit is being obtained for Client’s benefit.
f) Client agrees to provide Consultant Limited Power of Attorney to act on Client’s behalf to fulfill the terms of this Agreement.
g) Client agrees to indemnify and hold harmless Consultant and/or any third party funding sources, Service Providers and all of their Owners/Members/Principals should any entity not listed in this Agreement bring forth litigation for commissions and/or fees not received as a result of this Agreement. Client also agrees to indemnify and hold harmless Consultant and/or any third party funding sources, Service Providers, and or their Owners/Members/Principals should Client default or use his or her credit for illegal or unauthorized purposes.