ISO Agent Sales Agreement
This Sales Agent Agreement (the “Agreement”) is made and effective as of this date Monday, March 10, 2019 by and between Chrome Capital Funding, Inc. (Hereinafter “Chrome”) and (Agent) with Offices at
WHEREAS, Chrome purchases and out sources the purchase from merchants (“Merchants”) a percentage of each future credit card, debit card, bank card and/or other banking deposits, checks, electronic deposits (collectively, “credit card”) receipts (“Receipts”) due to the Merchants for an amount agreed to by Chrome and the Merchants (“3Program”);
WHEREAS, the Program permits Merchants to sell an agreed upon portion of their future Receipts at a discount (“Preprocessing Receipts”);
WHEREAS, Agent wishes to promote the Program, assist with its implementation and refer potential Merchants to Chrome that may wish to participate in the Program, all subject to the terms hereof.
NOW, THEREFORE this Agreement witnesses that in consideration of the mutual covenants by each of the parties hereto, the parties agree as follows:
An agent covenant that during the term hereof and so long as it is bound by the non-interference provisions hereof, it shall:
breach of any obligation, covenant, representation or warranty set forth in this Agreement or if determined by Chrome, in its sole discretion that Agent is causing a negative effect on the Program, Chrome or its affiliates;
“Confidential Information” means all proprietary, secret or confidential information or data relating to either party and its affiliates, operations, employees, products or services, clients, customers or potential customers. Confidential Information shall include customer lists, card member account numbers, pricing information, computer access codes, instruction and/or procedural manuals, and the terms and conditions of this Agreement. Information shall not be considered Confidential Information to the extent, but only to the extent, that such information is: (i) already known to the receiving party free of any restriction at the time it is obtained; (ii) subsequently learned from an independent third party free of any restriction and without breach of this Agreement; (iii) or becomes publicly available through no wrongful act of the receiving party; (iv) independently developed by the receiving party without reference to any Confidential Information of the other; or (v) required to be disclosed by law.
If to Agent:
City / State / Zip:
Phone/ Fax / E-mail:
If to Chrome Chrome Capital Funding, Inc.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above.
Chrome – Signature Agent (ISO) Signature
Print Name: Print Name:
This Agent Compensation Schedule sets out the terms of payment of Compensation under the Agreement (the “Agreement”). In the event of any discrepancy between the terms of this Schedule and the Agreement, the Agreement shall prevail. Agents may be paid Compensation in Four forms: a One-Time Lump Sum Compensation, Ongoing Compensation, a One Time Renewal Compensation and processing residual commission as detailed below. Compensation is subject to change when changes are made by Chrome to the Program. Changes to the program may be made in Chrome sole discretion, with notice in writing.
Agent shall be paid its One-Time Lump Sum Compensation in respect of a Merchant within 7 business days after the purchase price for the purchased amount is paid by Chrome to the Merchant (provided the Merchant is still processing with one of Chrome approved processors and is forwarding Chrome all amounts due).
If a Merchant referred by Independent Sales Organization defaults under its Merchant Agreement within the first 30 business days after funding, the Independent Sales Organization shall immediately return to Chrome the One-Time Lump Sum Compensation (as defined in Schedule A) paid to Independent Sales Organization with respect to such Merchant (and, if Independent Sales Organization fails to do so, then without limiting Independent Sales Organizations obligation to represent such amounts or any other rights of Chrome, Chrome may set off the amount of such One-Time Lump Sum Compensation against other amounts due to Independent Sales Organization hereunder or any other agreement). In the event that a Merchant terminates or is in default of its obligations under a Merchant Agreement, no Ongoing Compensation shall be paid in respect of such Merchant.
All compensation is based on the funded amount of the cash advance.
New Merchant: Per Grid in Approval email
Renewal: Same (minus any monthly bonuses/promotions)
*Each approval e-mail will include the offer, buy-rate and max commission upsell opportunity. Due to the the range of risk levels of files in which we fund, each offer will have a unique breakdown in order to be most competitive on the highest quality files. General compensation ranges between 10-16 points on the funding amount with large A paper files being compensated on the top end.
Agent Contact Info
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Please include all contact info for the person in charge on a deal-by-deal basis:
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Document Name: ISO Agreement
Agree & Sign