, hereafter known as Company.
The Client has legal authority to act on behalf of Company and authorizes Consultant to obtain any financial and or credit history from the credit reporting agencies for the purpose of determining their creditworthiness. The Consultant is keenly aware of those lenders who are aggressively seeking customers with a specific credit profile and agrees to use its knowledge to obtain funding for Client. Client agrees to complete and sign the financial application truthfully to the best of their knowledge. The Consultant agrees to work to obtain unsecured business loans for Client. Client understands and agrees that there is no guarantee of success for each individual application, or that lenders will issue a commitment, Consultant is not an employee of the lending institution and is not authorized to make any financial commitments on behalf of any lender.
The Client agrees to pay to Consultant a business consulting fee based upon the amount of loans provided to Client. The business consulting fee will include, bank application fees, bank set up fees, underwriting fees, and processing costs. Client agrees that the loan will be charged the full amount of the consulting fee at the time the loan is established by lender. Client authorizes Consultant to charge the Consulting Fee to the Client's loan. The consulting fee due to Consultant will be 10% (Ten Percent) of the approved amount of loan. Client acknowledges that Consultant will be doing significant work to establish loan on Client's behalf. Client further acknowledges it will not terminate the contract during funding. Client agrees to pay a late fee of $50 per day for each day that the payment is delinquent. Client acknowledges that once loan is established, the consulting fee is payable to Consultant and will be charged to the loan. Client agrees that NO REFUNDS will be possible. Client agrees that Consultant's invoice will serve as proof of the amount due and payable. For Clients that have been referred to Consultant by an affiliate: Client agrees to not remit payment through such affiliate company or individual, but rather remit payment directly to Consultant upon completion of services by Consultant. In addition to the provisions of the business consulting agreement, Client agrees to the provisions of the Letter of Understanding and Client further agrees to hold confidential and not disclose to any third party all information provided by Consultant for a period of three (3) years after the completion of this transaction. Specifically, but not limited to, the names and locations of Consultant's lending institutions / investors. Client acknowledges that Consultant has spent substantial effort and funds to procure the loans on behalf of Client and payment due to Consultant from Client must be paid upon receipt. The client agrees to a non-contacted voluntary judicial judgment in the amount of the full fee, late fees, and court costs if Client does not pay as agreed. Client acknowledges that Client is responsible for any and all collection fees and legal fees that Consultant incurs in the process of recovering the fee due from Client.
This agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of the State of Texas, without regard to its conflicts of laws and rules. The parties irrevocably submit and consent to the exclusive jurisdiction and venue of the Texas state courts in and for Tarrant County and the Federal courts in and for the US District Court of Texas. The parties waive all rights to a trial by jury in any action or proceeding instituted in connection with this Agreement.