I. Business Loan Referral Program
The terms and conditions below (the “Terms and Conditions”) govern your participation in the referral program (the “Business Loan Referral Program”) currently offered by Idea 247, Inc., a Florida corporation (“Idea 247”) and its affiliates. If you wish to participate in the Business Loan Referral Program described below, you agree to the terms described herein. The Business Loan Referral Program is open to any individual residing in the United States (the “Eligible Business Loan Referrer(s)”).
Eligible Business Loan Referrers may refer parties (collectively, the “Eligible Business Loan Recipient(s)”) they believe may be interested in applying for an Idea Financial Line of Credit or Idea Financial Term Loan (collectively, the “Eligible Business Loan(s)”). Idea247 reserves the right to disqualify anyone from participating in the Business Loan Referral Program at any time. The Eligible Business Loan Referrers will NOT receive a Business Loan Referral Payments (as defined below) for referrals of any other Idea 247 loan products other than the Eligible Business Loans. Anyone who violates these terms and conditions is ineligible for payment of any Business Loan Referral Payments.
To receive credit for a referral under the Business Loan Referral Program, Eligible Business Loan Referrers must either (i) send their unique referral code to an Eligible Business Loan Recipient, or (ii) provide the name and email address of an Eligible Business Loan Recipient to Idea 247 and the Eligible Business Loan Recipient must complete the steps set forth below in the following paragraph. If a unique referral code is provided by an Eligible Business Loan Referrer to an Eligible Business Loan Recipient, the Eligible Business Loan Recipient must use their Eligible Business Loan Referrer’s unique referral code within 120 days after receipt of the Eligible Business Loan Referrer’s unique referral code.
If the Eligible Business Loan Recipient (i) applies for an Eligible Business Loan with Idea 247 which is approved and funds, (ii) requests an initial draw under the Eligible Business Loan in an amount set forth below, and (iii) remits an initial repayment on the Eligible Business Loan pursuant to the terms and conditions applicable to such Eligible Business Loan and such initial repayment is received by Idea 247 (a “Funded Eligible Business Loan”), then Idea 247 or its designee shall pay to the Eligible Business Loan Referrer, a one-time referral bonus for such Funded Eligible Business Loan in the amounts specified as follows (the “Business Loan Referral Payments”).
Only one Business Loan Referral Payments will be paid to the Eligible Business Loan Referrer for each referred Eligible Business Loan Recipient, regardless of whether the Eligible Business Loan Recipient takes out multiple Eligible Business Loan. Business Loan Referral Payments will be made via direct deposit within 30 days of receipt of the initial repayment on the Eligible Business Loan.
An Eligible Business Loan Referrer will not earn a Business Loan Referral Payments if the Eligible Business Loan Recipient has or had an existing funded Idea 247 loan account, or, to the extent the Eligible Business Loan Referrer provided a unique referral code to the Eligible Business Loan Recipient, if the Eligible Business Loan Recipient does not use the unique referral code provided by the Eligible Business Loan Referrer.
Idea 247 cannot disclose to you any information about Funded Eligible Business Loans opened by any Eligible Business Loan Recipients you refer to us. Participation in the Business Loan Referral Program serves as a one-time limited waiver of privacy rights by both parties, whereby each may become aware of the presence of an account relationship with Idea 247.
II. Referral Cap
In no event will any person been titled to receive more than $10,000 in cumulative referrals under the Business Loan Referral Program within any calendar year. Business Loan Referral Payments are each considered miscellaneous income and may be reportable to the IRS on Form 1099-MISC.
III. Non-Solicitation Agreement
Other than as set forth herein, you agree not to compensate or accept any compensation from applicants whom you refer to Idea 247 through the Business Loan Referral Program described above. You further agree that your activities will be limited to referring potential customers as described above, so they may independently decide whether to apply for an Eligible Business Loan. You may not collect information (other than a name and email address in connection with the Business Loan Referral Program) from potential customers, including without limitation, Eligible Business Loan Recipients, under the Business Loan Referral Program, assist with filling out an application, or discuss specific product terms with any potential customers.
IV. No Spam
You must comply with all applicable laws and regulations in soliciting referrals in connection with the Business Loan Referral Program. Eligible Business Loan Referrers may not purchase internet search terms or publicly advertise Idea 247’s products or name in any fashion. Further, any distribution of a program link that could constitute unsolicited commercial email or “spam,” any content which impersonates or implies an affiliation with or endorsement by Idea 247 or any Idea 247subsidiary, or any actions which otherwise violate any terms or conditions imposed by Idea 247, are prohibited and will be grounds for immediate termination from the Business Loan Referral Program. We will not honor Business Loan Referral Payments for referrals which are generated using any of the foregoing means.
V. Independent Contractor
Your participation in the Business Loan Referral Program is solely as an independent contractor. Neither you nor Idea247 intend to establish an employment relationship, and you are not entitled to any benefits. If the cumulative welcome or referral bonuses paid to an individual in one calendar year exceed $599 USD, then we may require completion of a Form W-9 prior to fund disbursement. Any payments that are not claimed within 180 days of the date the funds have been made available because either the direct deposit bank account or required tax information have not been provided are subject to forfeit.
VI. Discontinuation of Loan Referral Program
Idea 247 reserves the right to temporarily, or permanently modify or discontinue or otherwise cancel the Business Loan Referral Program at any time, for any reason, at our sole discretion and without notice to you.
VII. General Conditions
Idea 247 reserves the right, in its sole discretion, to disqualify any individual it finds to be tampering with the operation of the Business Loan Referral Program or to be acting in violation of the Terms and Conditions. Idea 247reserves the right, at its sole discretion, to disqualify any individual found to be: (a) violating the Terms and Conditions; or (b) violating the terms of service, conditions of use and/or general rules or guidelines of any Idea 247property or service. Any person who supplies false information or is otherwise determined to be in violation of these Terms and Conditions in an attempt to obtain any Business Loan Referral Payments will forfeit any Business Loan Referral Payments and may be prosecuted to the full extent of the law. Any attempt by any person to undermine the legitimate operation of the Business Loan Referral Program may be a violation of criminal and civil law, and, should such an attempt be made, Idea 247 reserves the right to seek damages from any such person to the fullest extent permitted by law. Idea 247’s failure to enforce any term of these Terms and Conditions shall not constitute a waiver of that provision.
By participating in the Business Loan Referral Program, all Eligible Business Loan Referrers agree to release, indemnify, defend and hold harmless Idea247, its subsidiaries and affiliates and each such company’s officers, directors, employees and agents (collectively, the “Released Parties”) from and against any claim or cause of action, including, without limitation, personal injury, death, or damage to or loss of property, arising out of, in whole or in part, directly or indirectly, from participation or attempting to participate in the Business Loan Referral Program. The Released Parties are not responsible for: (i) any incorrect or inaccurate information, whether caused by Eligible Business Loan Referrers, Eligible Business Loan Recipients, or otherwise, printing, electronic or human errors or by any of the equipment or programming associated with or utilized in the Business Loan Referral Program; (ii) technical failures of any kind, including, but not limited to malfunctions, interruptions, or disconnections in phone lines or network hardware or software; failed, incorrect, incomplete, inaccurate, garbled or delayed electronic communications or entry information, any error, omission, interruption, deletion, defect, delay in operation or transmission, failures or technical malfunction of any computer online systems, servers, providers, computer equipment, software, email, players or browsers, whether on account of technical problems, traffic congestion on the Internet or at any website, or on account of any combination of the foregoing; (iii) the unavailability or inaccessibility of any transmissions or telephone or Internet service; (iv) unauthorized human intervention in any part of the entry processor the Business Loan Referral Program; (v) technical or human error which may occur in the administration of the Business Loan Referral Program; or (vi) any injury or damage to persons or property which may be caused, directly or indirectly, in whole or in part, from your participation in the Business Loan Referral Program or receipt or use or misuse of any Business Loan Referral Payments.
IX. Choice of Law; Forum for Disputes
The Terms and Conditions and all disputes, claims or controversies (whether in tort, contract or otherwise)arising out of or relating in any way to the Terms and Conditions, Business Loan Referral Program, Terms of Service, the Website or the Content, the negotiation, interpretation, validity or performance of the Terms of Service, the rights and obligations of you and us hereunder or any transaction contemplated by the Business Loan Referral Program shall be governed by and construed in accordance with the laws of the State of New York without regard to the rules or principles of conflict of laws of such State or any other jurisdiction that would permit or require the application of the laws of any other jurisdiction.
Idea 247 and you each hereby irrevocably and unconditionally consent to submit to the sole and exclusive jurisdiction of the courts of the State of New York and of the United States of America located in the State of New York, City of New York, Borough of Manhattan (the “New York Courts”) for any litigation, lawsuit or proceeding between you and us arising out of or relating in any way to the Business Loan Referral Program (including any non-contractual claims), the Terms and Conditions, the Website or the Content, the negotiation, interpretation, validity or performance of the Business Loan Referral Program, the Terms and Conditions, Terms of Service, the rights and obligations of you and us hereunder or any transaction contemplated by the Website or the Business Loan Referral Program. You and we each waive any objection to the laying of venue of any such litigation in the New York Courts and agree not to plead or claim in any New York Court that such litigation brought therein has been brought in an inconvenient forum or that there are indispensable parties to such litigation that are not subject to the jurisdiction of the New York Courts. You and Idea 247 each hereby irrevocably waive any and all rights which you or we, respectively, may have, or may have had, to bring such litigation in or before any other court or tribunal (whether domestic or foreign), or before any similar domestic or foreign authority or body, and agree not to claim or plead any such rights.
X. WAIVER OF JURY TRIAL
IDEA 247 AND YOU EACH ACKNOWLEDGE ANDAGREE THAT ANY CONTROVERSY THAT MAY ARISE UNDER THESE TERMS AND CONDITIONS ANDTHE BUSINESS LOAN REFERRAL PROGRAM IS LIKELY TO INVOLVE COMPLICATED ANDDIFFICULT ISSUES AND, THEREFORE, EACH PARTY IRREVOCABLY AND UNCONDITIONALLYWAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTIONOR PROCEEDING ARISING OUT OF OR RELATING TO THESE TERMS OF SERVICE OR THEWEBSITE AND FOR ANY COUNTERCLAIM THEREIN. EACH PARTY CERTIFIES AND ACKNOWLEDGESTHAT (I) NO REPRESENTATIVE OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OROTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVERIN THE EVENT OF A LEGAL ACTION, (II) SUCH PARTY HAS CONSIDERED THE IMPLICATIONSOF THIS WAIVER, (III) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) SUCHPARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THEMUTUAL WAIVERS AND CERTIFICATIONS IN THIS PROVISION.
XI. CLASS ACTION WAIVER