To the extent that the transaction summary describes a future payment of a specified percentage, the seller will enter into a contract acceptable to the buyer with a processor to obtain processing services («processing contract») and authorize and order the processor to pay and pay the daily payment amount attributable to the purchaser (as defined below) in the specified percentage of payment card applications filed in the bank account until the purchaser receives The total amount of the cash payment reported. The sale of future debts is a way for a company to sell future business income to third parties and to instantly obtain cash. As it is a matter of selling future profits, this is a business-to-transaction transaction transaction – not a loan. Since the sale of future receivables is not a loan, it is not regulated by most local, state or federal laws. Let us remember that the purchase of future debts is a kind of high-risk corporate financing and that the risk will be taken into account in the financing offer. As a result, rates for the acquisition of future receivables are often higher, if not much higher, than in the case of conventional business financing. In addition, interest rates on a traditional loan are calculated with an RPO, while cash advance rates are calculated using a formula called «factor rates.» The seller and buyer agree that the buyer has advanced the total amount of the remaining receivables for the purchase and sale of all future receivables and should not be construed as a loan or assignment for the buyer`s guarantee to the seller. The seller agrees never to bring a claim, claim, remedy or appeal against the buyer for a usurious claim, a claim, a claim or, in any way, in the institution or pursuit of claims, claims, lawsuits or lawsuits against the buyer over a usurious claim, a requirement that the buyer must have a loan license , or any other claim alleged that the payment of the order paid by the buyer in exchange for the total amount of the outstanding or should be interpreted as a loan from the buyer to the seller. The above is an alliance, do not bring action and no release. In the event that the seller violates or violates in any way the provisions of this section 8, the seller undertakes to compensate the buyer for any damages resulting from that breach, including, but not only, the payment of all costs and expenses of any kind related to the application of the buyer`s rights and remedies under this agreement. , including all legal fees and costs incurred by these costs. The seller acknowledges and accepts that none of the parties to this agreement is a «consumer» in relation to this agreement and the underlying transaction, and this agreement should not be construed as a consumer transaction.

In the event that the transaction summary describes a future payment of a certain percentage, the seller, through the buyer`s payment liquidator, must pass on the authorization to deposit the total outstanding directly into the buyer`s account by debit, as indicated by the buyer. This authorization is irrevocable, absolute and unconditional without the buyer`s written consent. The seller acknowledges and agrees to make available to the buyer certain financial and banking information of the seller, as permitted by law and if necessary to facilitate this process. As this is not a loan, there is no interest rate or RPO associated with the purchase of future receivables. It is no secret that access to sufficient corporate capital is essential for a business to stay afloat and prosper.