Referral Agreement Template (Page 2 of 4) in pdf

Prospect except as it relates to lenders the Company has already presented the Prospect

Loan Application to.

4. Term, Fees, and Expenses: The Company will charge a fee on either a flat rate basis or

as a percentage of the loan amount for each Prospect loan placed with one of its lenders.

Those Fees will be expressly written into a contract with the Prospect and Company. The

Company and Agent agree that each Prospect shall be responsible for paying their fee.

The Agent and Company agree that all such Fees shall be due and payable to the

Company by the Prospect at time of closing on any loans, and shall be fully paid either at

closing or within a timeframe mutually agreed upon between the Agent, Company, and

Prospect. The Company agrees to pay the Agent ____% of all fees earned by the

Company for the placement of Prospect loans after removing any third party costs the

Company incurs for the Loan, should any exist. The Company agrees to pay the Agent

their portion of the fee within five (5) business days of the Company’s receipt of the fee

from each Prospect. Should the Agent close a loan with another lender for a Prospect the

Company is actively working on, with or without the assistance of the Company, the

Agent shall reimburse the Company the Company’s percentage of the fee, as outlined

above, earned for placing that Prospect loan with a lender, and the Agent will pay that fee

within five (5) business days of loan closing. The Company agrees that no additional

compensation will be sought from or received from any lenders or the Prospect, unless

expressly approved and agreed to in advance by the Agent and Company, and that the

Company’s fee as disclosed to each Prospect in their contract will stand for that

transaction unless both the Agent and Company agree to modify it at a future date. If the

Company receives any referral or other fees from any lenders, the Agent will earn the

same percentage of those fees as described above. Should the Company fail to collect the

full or even the whole fee from any Prospects even despite best efforts to collect those

fees, the Agent will only earn their percentage of the fee collected. The Agent only gets

paid its fee so long as the Company can collect the fee from the Prospect.

5. Agent Responsibilities: The Agent shall be responsible for communicating with each

individual Prospect and for collecting financial information from each Prospect needed to

process that Prospects loan application. The Agent will also serve as the primary source

of contact between each Prospect and the Company, and will respond to calls and

information requests from the Prospect for the Company, and from the Company for the

Prospect.

6. Costs: The Agent and Company agree that all costs incurred for new procedures,

software, or contracts entered into during the term of this Agreement shall be the

responsibility of each party individually, and that neither the Agent nor Company has the

ability to enter into any fee agreements on behalf of each other. The Company will not

incur any outside expenses on behalf of Agent, nor will the Agent incur any outside

expenses on behalf of the Company, unless expressly agreed to by both parties in writing.

7. Term of Agreement: The term of this agreement shall be open-ended. However, either

party may terminate this agreement within ten (10) business days from the date written

notice is provided to the other party. Termination of this Agreement by either party does

not waive the Exclusivity provisions of this Agreement nor does it waive the fees as it

relates to Prospects for which work is already in process.

8. Confidential Information: The Company and Agent acknowledge that in the performance

of the duties under this Agreement both parties may acquire information that is

Referral Agreement Template Page 2

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