(Revised 2024-12-31)
Agency Agreement
AGENT: [NAME]
COMPANY: Easyterms Ltd.
This Agreement) is entered on the [DATE] (herein referred to as the "Effective Date") into by and between:
[NAME] of [ISLAND], The Bahamas (herein referred to as "Agent") and
Easyterms Ltd. of University Drive, Nassau, The Bahamas (herein referred to as "Company”).
Parties may be referenced individually as "Party" and collectively as "Parties".
WHEREAS, Agent is an independent contractor engaged in the business of sales and professional advice.
WHEREAS, Company is in the business of private lending.
WHEREAS, Agent desires to encourage its customers to do business with the Company.
WHEREAS, Company desires to provide loans to customers referred by Agent.
WHEREAS, Parties collectively desire to enter into this AGENCY AGREEMENT to memorialize the terms and conditions of their anticipated relationship.
NOW, THEREFORE, the Parties hereby agree to be bound by the following terms and conditions:
The purpose of this Agreement is to establish a good-faith foundation between the Parties for future commercial efforts that are mutually beneficial. The Parties agree to work independently in a cooperative and coordinated manner to achieve each Party's individual desires and commercial objectives. This Agreement is designed to detail the specifics of the relationship between the Parties.
This Agreement does not obligate the Parties to provide funds or payment unless explicitly stated. This Agreement does not bind Parties to any legal obligations not explicitly provided for in this Agreement.
To achieve Parties’ mutual desires, each party agrees to the following roles and responsibilities.
Agent Duties, Roles, and Responsibilities
The Agent Shall:
Promote the Company and its financial products to prospective customers;
Assist customers applying for the Company’s financial services through the completion of application forms, providing accurate and current customer due diligence and KYC information, and providing of electronic versions of all required documents together with signatures as required by the Company;
Provide a contact name, details, and authorization to use the name and likeness of the Agent and/or customer in advertising and promotional materials;
At all times during the continuance of this Agreement act with utmost good faith towards the Company in all matters;
Strictly adhere to any guidelines issued by the Company;
Comply with and be bound by all applicable, laws, regulations, and codes when transacting business in accordance with the terms of this Agreement;
Obtain approval, in writing, before engaging in any promotional/marketing activity;
Uphold high standards of professionalism and ethical conduct at all times and in all dealings with customers and the Company;
Promptly inform the Company of any changes in the staff, officers, or employees of the Agent;
Promptly inform the Company of any legal proceedings instituted against the Agent or any disciplinary proceedings against the Agent instituted by any professional or regulatory body;
Maintain adequate, accurate, and relevant records of all business transacted pursuant to this Agreement;
Represent the Company’s services accurately and refrain from any and all actions that may harm the Company’s reputation or violate applicable laws and regulations;
Show clearly any additional fees or charges levied in excess of agreed commissions in relation to any business introduced to the Company, such fees or charges having been first approved by the Company in writing; and
Refrain from charging customers any fees for services related to this Agreement or profiting directly from customers referred under this Agreement otherwise than strictly in accordance with the terms hereof.
The Agent Shall Not:
Delegate any authority granted hereunder. Notwithstanding the foregoing the Agent shall be entitled to delegate to employees who will perform obligations on behalf of the Agent (as appropriate). The Agent accept(s) responsibility for all acts of their respective employees;
Pledge the credit of the Company;
Be entitled to bind the Company in contract or any other way, or sign documents on behalf of the Company;
Knowingly acquiesce in any attempt by a prospective customer to mislead the Company or withhold material information, including information which comes into the Agent’s knowledge, possession, custody, or control and which is not included in any application form submitted to the Company;
Directly, indirectly, or otherwise, provide professional services or information to, assist, or advise any company or business which provides or plans to provide or perform the same or similar services as those provided by the Company.
Company Roles and Responsibilities
The Company Shall:
Process applications submitted by Agent or by Agent’s customers; and
Communicate with and provide support to Agent for completion of the customer application process with the intent of providing financial services, specifically consumer loans, in accordance with Company policy which may vary from time to time.
The Parties agree:
To meet or correspond as needed to plan ahead and try to determine all the relevant information for each customer application; and
That each Party shall use their best efforts to accurately compile all relevant information and data required for the completion of each customer application.
This is done with the intention of preparing and submitting the application in a timely manner.
To further the business relationship between the Parties, the Parties agree to provide the following resources:
Agent shall provide customers access to an internet enabled device for the purposes of completing each application and submission of documents.
Company shall provide sales and marketing support and pay to Agent a fee in accordance with Appendix A.
Parties, at a minimum, agree to provide the resources listed above. The Parties may agree to provide additional resources in future agreements.
The Agreement may be modified or altered as necessary with the consent of both Parties. Any changes must be made in writing.
Parties agree that they each use confidential, sensitive information to achieve their individual business goals. Due to the nature of the Parties’ businesses and intent to establish a working relationship together, confidential information may be shared between the Parties.
The Parties agree to keep all confidential information and trade secrets in the strictest of confidence during the working relationship. Parties may not share any disclosed confidential information with unauthorized third parties. Such confidential information will be used solely for the purposes of this Agreement.
Agent agrees to only reveal confidential information to its employees who meet the following criteria:
have a reasonable need to know the confidential information for the purposes of the contract particulars;
have been made aware of the classified information's confidentiality and the provisions of the settlement act; and
have been briefed of and consent to be bound by commitments that are equivalent to those within the contract particulars.
All Private Information, including all monopoly, copyright, proprietary information, registered trademark, and other intellectual property law therein, shall remain the sole domain of each Party. The Parties acknowledge that no license or right to use any intellectual property is granted or implied by this Agreement.
Any transfers and duplicates of classified material must be limited and under the user's supervision. At the plea of the other Party or, at the latest, upon termination of this Agreement, the Agent shall return all documentation or versions of the Confidential Information. This is not applicable to confidential data or copies thereof that the Agent is required by law to keep on file, provided that the Agent is under an ongoing obligation to maintain the confidentiality of such private information or copies thereof.
The Parties agree this Agreement represents the most current agreement between the Parties. This Agreement contains the entire agreement between the Parties and supersedes all previous written or oral negotiations, commitments and writings with respect to the matters contemplated herein. If Parties wish to update the terms or otherwise adjust provisions of this Agreement, Parties shall do so by the drafting and signing of a new Agreement or contract.
The Parties agree that this Agreement may be executed in one or more counterparts, each of which shall be executed by one or more of the Parties, and such executed counterparts, taken collectively, will constitute one agreement. A facsimile or electronic signature will have the same force and effect as an original signature.
This Agreement shall be in force from the Effective Date. For five (5) years after the date of expiration or dissolution, the Agreement and any corresponding confidentiality agreements contained herein, or NDAs executed further hereto, will remain in effect.
This Agreement does not create, and shall not be construed as creating, any partnership, joint venture, or employment relationship between the parties. Neither party has the authority to bind or obligate the other in any manner. Each party is an independent contractor and is solely responsible for its own actions and obligations.
This Agreement's provisions are all applicable as defined under the statutory powers.
In the event that either Party violates the terms of this Agreement in a way that can be corrected, the other Party shall have the right to request of the Party violating the terms to correct the violation within fifteen days from the day of the notice, neglecting which the violation will be considered to be a tangible violation and shall give the Party requesting correction the right to rescind this Agreement for tangible violation.
This Agreement is operative upon acceptance and will continue unless prematurely canceled by one of the following: upon 30 days’ written notice from one Party to the others; upon all Partys’ permission; or at the good faith request of any Party if the other Parties violate the Agreement’s terms. Nevertheless, any such voluntary termination for good cause must first be preceded by written notice of the claimed non-compliance and a 30-day period in which to cure; or upon the registration of any Party's bankruptcy or liquidation.
This Agreement shall be effective from the Effective Date. Parties may terminate this Agreement by means of signing a termination addendum.
Appendix A
Company shall pay to Agent the following fees upon completion of a successful application when processed in accordance with Referral Program Terms and Conditions as set out below:
Referral fee $50
A solicitation fee is payable in the event that the Agent solicits a customer that has not been referred by the Company, another Agent or any other third party. There are two ways that a qualifying referral fee is triggered:
By the Customer using the referral fee link provided by the agent, or
By the Agent enrolling a new customer through their online Agent account.
Application fee $50
A processing fee is payable to the Agent for assisting a customer with a successful loan application. A qualifying application fee is triggered only when the Agent has submitted the application through their online Agent account. This application fee is independent of referrals and can be earned any time the Agent processes a customer application, including with returning customers.
The Company operates a referral program where both the referring customer and the referred customer each receive a $50 reward. Agents are encouraged to promote this program as a marketing tool.
If a customer is not solicited by the Agent, the solicitation fee does not apply. In such cases, the Company will pay the following upon successful application completion:
The application fee of $50 to the Agent
And in the event the customer is referred to the Agent:
A referral fee of $50 to the referring customer, and
A reward of $50 to the referred customer
If customers introduced by the Agent are not referred by a third party, the Agent qualifies for both the solicitation fee and the processing fee.
Eligibility for referrals is defined in the Referral Program Terms and Conditions.
These terms and conditions govern the referral program (“Program”) offered by Easyterms Ltd. (“Company”) and apply to the referring customer (“Referrer”) and the newly referred customer (“Referee”).
A referral is deemed valid only when all the following conditions are met:
2.1. The Referrer introduces a Referee by:
- Submitting the Referee’s email address via the “Refer a Friend” section of their online account, or
- Utilizing the unique referral link provided by the Company.
2.2. The Referee has not held an active account with the Company within the 12 months preceding the referral date.
2.3. The Referrer and Referee must be separate individuals.
2.4. The Referee’s loan application is approved, and a loan with a minimum value of $1,000 is successfully disbursed.
3.1. For each valid referral, the Referrer and Referee will each receive a reward of $50, paid via bank transfer.
3.2. There is no cap on the number of referrals a Referrer may make.
4.1. The Company reserves the right to withhold rewards if it reasonably suspects fraudulent or abusive behavior.
4.2. The Company retains sole discretion in determining the validity of referrals.
Employees of the Company and their immediate family members are not eligible to participate in the Program.
All decisions made by the Company in relation to the Program, including eligibility and rewards, are final and binding.