Vendor
Contract Agreement
This
is a text copy of the Dealer Agreement that dealers have to sign
for LeaseComm. I wonder if it too is non-cancellable?
Vendor/Dealer
Agreement
Vendor/Dealer Name
Contact Name
Street Address
City State ZIP
Phone No. ( ) - Fax No. ( E-mail) -
Product Lines Date
This document states our agreement (Agreement) concerning the lease
programs to be furnished by Leasecomm.
Corporation, referred to below as ''LC'' and the above named Vendor/Dealer
referred to below as you or your company'' We agree as follows:
1. From time to time you will submit to LC applications for lease
credit approval covering
equipment and/or software licenses (hereinafter
''Product'') your company sells. Each application will be assessed
a $25 processing fee which will be charged to your account by automatic
debit. Upon successful approval and ultimate closing of the transaction,
the processing fee is fully refundable and added to your funding
amount. If
an application is not acceptable to the credit standards of LC for
any reason, the fee shall be forfeited. You shall perform such services
on behalf of your customer and not as an agent of LC. Nothing in
this agreement shall be deemed to create a partnership or joint
venture between you and LC or constitute you as the agent of LC.
You
agree not to act as, or represent yourself as, an agent, partner
or joint venture of LC.
2. You must present LC with a complete lease package within 30 days
of authorization to receive funding. A completed lease package must
include a lease application and agreement with the appropriate signatures
and information requested (including your signed bill of sale on
the reverse side of the lease agreement), an advance payment check
from the Lessee made payable to LC (advance payment checks in the
amount of
$500.00 or more must be bank checks; personal or company checks
will not be accepted), your invoice for the Product equal to the
funded amount of the lease, verification of the lessee's signature,
and an insurance binder covering the value of the Product that names
LC as the loss payee. For funded amounts of $10,000.00 or more LC
also requires a filing of a UCC form naming LC as the owner of the
Product prior to funding.
3. You warrant that each lease you submit: will be for commercial
business customers only and will be properly executed by the lessee
and guarantor(s); no
promises or representations have been made by you, your employees
or your agents, to the lessee which
are not contained in or contradict the written Lease; the lease
is not in default by you or the Lessee; the lease as executed by
the lessee will be the only lease executed covering the Product
to be leased; you have good and marketable title to the Product
which is subject to the lease, free and clear of any and all liens,
charges, encumbrances, mortgages, pledges, security interests and
claims of any kind, following the transfer of the lease and Product
to LC, LC will have good title to the Product, free and clear of
any such liens and encumbrances; the lease, the assignment by you
and the bill of sale are valid and binding obligations, enforceable
in accordance with the stated terms without alteration; you have
not agreed to any modification or waiver of the lease terms without
the express written consent of an authorized officer of LC; and
your business activities in the preparation and execution of all
lease documents are in compliance with all applicable laws, ordinances,
rules and regulations (whether federal, state or local) and you
possess any and all permits, licenses and consents as may be necessary
in connection therewith.
4.
You
warrant that you have been in business for at least two years under
your current business name.
5.
You shall not accept collections from lessees or repossess or consent
to the return of leased Products. Any payment you receive from a
Lessee with respect to a lease transaction will be received in trust
for LC and will be promptly remitted to LC in the same form received.
You will perform or cause to be performed, at no cost to LC, all
maintenance and service on the Product required under warranties
or maintenance contracts.
6.After
the expiration of such warranties and/or any maintenance contracts,
you will perform or cause to be performed all maintenance and service
on the Product reasonably requested by LC at reasonable costs. You
agree to provide LC with product, from your product lines, at your
cost for the purpose of fulfilling Loss or Destruction Waiver claims.
7.
In the event any Lessee defaults in its obligations to LC (for the
purpose of this agreement a lease shall be deemed to be in default
if the Lessee violates any material covenant of the lease), you
agree to an arrangement whereby at LC's request you will assist
in recovery of the Product and repair and recondition of same and
remarketing said Product on terms to be negotiated at that time.
Should the Lessee fail to make at least one full monthly payment
beyond any advance or down payment and/or if the Lessee's first
authorized ACH debit is declined by the Bank (provided the reason
for the decline was not due to LC's error), LC will notify you and
you will have 5 months from the original lease funding date to assist
in collecting the delinquent account. If after the
aforesaid 5 months LC has not received the first full monthly payment
LC will charge you back the original funded amount of the Lease.
8.
You agree to indemnify and hold LC harmless from all losses, damages,
liabilities and expenses (including reasonable attorney's fees and
court costs) which
may result from any claim or action against LC by any Lessee arising
out of any action or omission by you in connection with the execution
of the lease, any representation
or warranty made to the Lessee, or any other claim of any nature
arising out of the leasing of the Product by you to the Lessee.
9.
LC
reserves the right to charge you back for funded amounts, damages
and/or reasonable expenses it may incur for your violations of the
provisions of Paragraphs 3, 4, 5, 6, 7 or 8 of this agreement. Any such chargebacks
may, at LC's option, be offset from current funding and shall be
separate from transfers pursuant to Goldplan, reserve or loss/destruction
reimbursements. Should current funding be insufficient to cover
the amount of any chargebacks, LC shall notify you of the amount
of the chargeback and you shall forthwith remit the necessary funds
for same. LC will thereupon assign the lease to you without recourse.
10.
Either you or LC may terminate this agreement at any time by written
notice to the other. No termination will affect the obligations
of either party with respect to lease transactions entered before
the date of termination.
11.
If you elect to participate in Leasecomm DireCtTM you agree to safeguard
your password and access to your account and to indemnify and hold
LC harmless from any and all damages, losses and liabilities incurred
or suffered as a result of, or incident to, any action by persons
other than LC employees. You further agree to use the system only
for its stated purpose. Failure to do so may result in the immediate
termination of your access to Leaseccomm DireCtTM.
12. This Agreement is the only and entire Agreement between LC and
you and supersedes, terminates and voids all other agreements, whether
oral or written between the parties with respect to the subject
matter hereof.
This
Agreement is for the sole use and benefit of your company, may not
be assigned or transferred by you, and any attempted assignment
or transfer by you shall be void.
13. This Agreement shall be considered to be a MASSACHUSETTS contract
and shall be deemed to
have been made in Middlesex County, Massachusetts, regardless
of the order in which the sip-natures of the parties shall be affixed
hereto, and shall be interpreted, and the rights and liabilities
of the parties hereto determined, in accordance with the law, and
exclusively
in the courts, of the Commonwealth of Massachusetts. The undersigned
hereby consents and submits to the jurisdiction of the courts of
the Commonwealth of Massachusetts for the purposes of any suit,
action or other proceeding arising out of the undersigned obligations
hereunder, and expressly waives any
objection to venue in any such courts.
I have read and agree to the terms and conditions of this Agreement.
I certify that I am an authorized signer for Vendor listed above.
Owner #1 Owner #2
Signature: Signature:
Print Name: Print Name:
Title: Title:
Personal
Guaranty:
To induce Leasecomm to enter into this Vendor/Dealer Agreement,
The undersigned party unconditionally guarantees to Leasecomm prompt
payment when due of all of Vendor/Dealer obligations to Leasecomm
under this agreement. Leasecomm. shall not be required to proceed
against the Vendor/Dealer or to enforce any other remedy before
proceeding against the undersigned. The undersigned agrees to pay
all attorney fees and other expenses incurred by Leasecomm by reason
of the Vendor/Dealer's default. The
Undersigned waives notice of the acceptance hereof and of all other
notices or demands of any kind to which the undersigned may otherwise
be entitled. This is a continuing
Guaranty. The undersigned specifically understands and also agrees
with the bold, underlined provision stated above submitting and
consenting to the laws and jurisdiction of the Commonwealth of Massachusetts
for any action whatsoever arising out of this lease.
Guarantor #1 Guarantor #2
Signature: Signature:
Date: Date:
Witness Signature: Date:
Accepted for Leasecomm: Dealer Code:
Date:
LeasecommDirectTM Member Information
Enrollment Form
Member Name Email
Title
Home Phone Number
Home Address
City State Zip
Member Security Information
Social Security Number - -
Mother's
Maiden Name
Dealer
Code(s) to Access
Choose your own password
(Passwords must be 6 - 15 characters in length)
Authorization
I certify that the information provided above is true and I agree
to
safeguard my password and access to my account and to indemnify
and
hold Leasecomm harmless from any and all damages, losses and
liabilities incurred or suffered as a result of, or incident to,
any action
by persons other than Leasecomm employees. I also agree to use the
system only for its stated purpose and that failure to do so may
result
in the immediate termination of my company's access to
LeasecommDireCtTM.
User Authorized Signature
Print Name Title Date
I authorize the above listed user to use LeasecommDireCtTM to access
information pertaining to the above listed dealer code(s).
Dealer/Vendor Authorized Signature
Print Name Title Date
Do not mark in this box. For Leasecomm use only.
User Functions Requested:
Account Manger Approval: Date:
User Id assigned: Date activated:
Access Granted by: Assigned to:
06/17/98
PHONE (800) 515-5327
FAX (781) 672-6879
LEASECOMM 950 Winter ST.
WALTHAM MA 02154 Authorization for ACH Direct Deposit
Customer Information
Name (Please Print) Company Name
Social Security # / Federal Tax ID # Dealer Code
Bank Name Branch / Phone Number
City / Town State Zip
Account Information
I authorize Leasecomm Corporation and the financial institution
named below to deposit all funds payable to me automatically to
my checking account I also authorize adjusting entries, as they
may be required.
I understand that Direct Deposit may be altered with three weeks
written notice to Leasecomm Corporation.
During the prenote/Change period Leasecomm will automatically send
disbursements by check.
Authorized Signature Date
Clerical Information
ROUTING NUMBER I: I:
ACCOUNT NUMBER
Company Name ATTACH COMPANY VOID CHECK HERE
1.011012337 I- 32373488811 0458
