This review list is intended to educate you about this document and to aid you in its preparation. Numerous service providers have their own agreements, which are often more onerous than the ones we make available for your use and modification. Because you are the customer in this transaction, if that is your position, you may choose to utilize your own agreement. If you are the service provider, this agreement may be adapted for a variety of different reasons.
- Make many copies. Each party should get a signed copy.
Credit Agency Subscription Agreement
Credit Agency Subscription Agreement
This agreement is made this _____ day of ___, 20__, between ______________________, herein referred to as SUBSCRIBER, and ______________________ herein referred to as AGENCY.
The term of this agreement shall begin on _____________________ and terminate on _____________________, unless earlier terminated as is provided herein.
AGENCY shall provide credit reports upon the request of SUBSCRIBER. SUBSCRIBER warrants that all inquiries made shall be either pursuant to written consent from the subject of the inquiry or pursuant to a valid business reason and in conformity with all applicable laws and regulations related to use of credit reports.
SUBSCRIBER agrees to indemnify AGENCY against any claims made against AGENCY for providing a credit report unlawfully to SUBSCRIBER.
SUBSCRIBER may from time to time provide information to AGENCY. SUBSCRIBER warrants that any information provided by it shall be true and correct and were acquired in a lawful fashion. SUBSCRIBER shall indemnify AGENCY from any claims related to the information provided by AGENCY. In the event that any challenges are received to the data provided by SUBSCRIBER to agency, SUBSCRIBER shall investigate the challenge and report the results of the verification as soon as possible, but in any event within the time period required by applicable credit laws.
SUBSCRIBER shall pay a fee of $____________ (_____________________________________ & _____/100 dollars) per monthly in advance. In the event that the SUBSCRIBER fails to pay as agreed, AGENCY shall have the right to discontinue service, or, in its option, to accelerate payment of the remaining sums due. Any past due amounts shall bear interest at the highest legal rate.
This agreement shall be subject to the general terms and conditions related to the use or reporting of credit information as published by AGENCY. AGENCY shall provide all services in strict accordance with the applicable laws and regulations related to the provision of commercial or consumer credit reports and will indemnify and hold SUBSCRIBER harmless from any claims related to the performance by AGENCY of reports.
AGENCY may terminate this agreement at any time, if in its sole discretion SUBSCRIBER is or is about to fail to comply with the general terms and conditions relating to the use or reporting of credit reports, or laws or regulations related to the same.
This is the entire agreement between the parties and only a writing executed by both parties hereto may alter this agreement.
Dated: ___________________
For ______________________:
_____________________________________ By Agency
For ______________________:
_____________________________________ By Customer
Credit Agency Subscription Agreement
Review ListThis review list is provided to inform you about this document in question and assist you in its preparation. Many service providers have their own agreements which usually are more onerous than the ones we provide for your use and modification. Since you are the customer, if that is your role in this transaction, then you can decide to use your own agreement. If you are the service provider, you can adapt this agreement to many other purposes.
1. Make multiple copies. Give a signed copy to each party.
Frequently Asked Questions
What is a Credit Agency Subscription Agreement?
A Credit Agency Subscription Agreement is a contract between a subscriber and a credit agency that governs the provision of credit reports. The agreement outlines the term, the subscriber's obligations, and indemnification provisions. It is used to ensure compliance with applicable laws and regulations regarding credit report usage.
What are the key obligations of the subscriber under this agreement?
The subscriber warrants that all inquiries for credit reports are made either with written consent from the subject or for a valid business reason, in conformity with all applicable laws and regulations. The subscriber also agrees to indemnify the agency against claims arising from unlawful provision of credit reports. Additionally, any information provided by the subscriber must be true, correct, and lawfully acquired.
How long does the agreement last?
The term of the agreement begins on a specified start date and terminates on a specified end date, unless it is earlier terminated as provided in the agreement. The exact dates are left blank in the template to be filled in by the parties. The agreement does not specify a default duration beyond the dates entered.
What happens if there is a challenge to the data provided by the subscriber?
The article text is cut off mid-sentence regarding challenges to data provided by the subscriber. It states: 'In the event that any challenges are received to the data provided by SUBSCRIBER to agency, SUBSCRIB...' The full procedure is not detailed in the provided excerpt. Therefore, the agreement likely contains provisions for handling such challenges, but they are not specified here.
Does the subscriber need to obtain consent before requesting a credit report?
Yes, the subscriber warrants that all inquiries made shall be either pursuant to written consent from the subject of the inquiry or pursuant to a valid business reason. This must also be in conformity with all applicable laws and regulations related to the use of credit reports. The agreement does not specify the form of written consent or the definition of a valid business reason.
What is the subscriber's indemnification obligation?
The subscriber agrees to indemnify the agency against any claims made against the agency for providing a credit report unlawfully to the subscriber. The subscriber also shall indemnify the agency from any claims related to the information provided by the subscriber. The agreement does not limit the indemnification to specific types of claims or amounts.
Can the subscriber provide information to the agency?
Yes, the subscriber may from time to time provide information to the agency. The subscriber warrants that any information provided shall be true and correct and were acquired in a lawful fashion. The agreement does not specify the purpose or use of such information by the agency.
What laws and regulations govern the use of credit reports under this agreement?
The agreement requires conformity with all applicable laws and regulations related to the use of credit reports. It does not list specific laws or regulations. The subscriber must ensure that inquiries are made pursuant to written consent or a valid business reason as defined by those laws.
How can the agreement be terminated early?
The agreement states that it terminates on the specified end date unless earlier terminated as is provided herein. The provided article text does not include the specific provisions for early termination. Therefore, the conditions for early termination are not detailed in the excerpt.
What happens if the subscriber violates the agreement?
If the subscriber violates the agreement, such as by making unlawful inquiries or providing false information, the subscriber may be liable to indemnify the agency against claims. The agreement does not specify other consequences like penalties or termination rights. The indemnification obligation is the primary remedy mentioned.
