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Credit Partner Agreement
"I need a Credit Partner Agreement for a partnership between our fintech company and a major Canadian bank, focusing on providing buy-now-pay-later services to retail customers, with the agreement starting March 1, 2025."
1. Parties: Identification of all parties to the agreement, including their legal names, addresses, and registration details
2. Background: Context of the agreement, including the purpose of the credit partnership and the general business relationship
3. Definitions: Detailed definitions of terms used throughout the agreement
4. Scope of Partnership: Detailed description of the credit partnership arrangement, including roles and responsibilities
5. Credit Criteria: Specifications for credit assessment, approval processes, and lending parameters
6. Financial Terms: Details of fees, revenue sharing, payment terms, and financial obligations
7. Compliance Requirements: Regulatory compliance obligations, including AML, KYC, and reporting requirements
8. Risk Allocation: Distribution of risk between partners and risk management procedures
9. Operational Procedures: Day-to-day operational processes, including communication protocols and reporting requirements
10. Representations and Warranties: Standard legal representations and warranties from each party
11. Confidentiality: Provisions for handling confidential information and data protection
12. Term and Termination: Duration of the agreement and circumstances for termination
13. Dispute Resolution: Procedures for resolving disputes between parties
14. General Provisions: Standard legal clauses including governing law, notices, and amendments
1. White Label Provisions: Required when one party's brand will be used to market credit products
2. Technology Integration: Needed when the partnership involves specific technology platforms or APIs
3. Insurance Requirements: Include when specific insurance coverage is required for the credit products
4. Training and Support: Required when one party needs to provide training or ongoing support to the other
5. Marketing and Promotion: Include when the agreement covers joint marketing activities
6. International Operations: Required for cross-border credit partnerships
7. Debt Collection Procedures: Include when specific debt collection processes need to be outlined
8. Service Level Agreement: Required when specific performance metrics need to be maintained
1. Schedule A - Credit Products: Detailed description of credit products covered under the agreement
2. Schedule B - Fee Schedule: Comprehensive breakdown of all fees, commissions, and revenue sharing arrangements
3. Schedule C - Operating Procedures: Detailed operational procedures and workflows
4. Schedule D - Compliance Requirements: Specific regulatory compliance requirements and procedures
5. Schedule E - Service Levels: Detailed service level requirements and metrics
6. Appendix 1 - Credit Assessment Criteria: Detailed criteria for credit assessment and approval
7. Appendix 2 - Required Reports: Templates and specifications for required reporting
8. Appendix 3 - Security Protocols: Information security and data protection requirements
Authors
Financial Services
Banking
Fintech
Retail
E-commerce
Telecommunications
Automotive
Real Estate
Consumer Services
Technology
Legal
Compliance
Risk Management
Finance
Operations
Business Development
Credit Operations
Partnership Management
Product Development
Information Technology
Data Protection
Treasury
Chief Financial Officer
Head of Partnerships
Credit Risk Manager
Compliance Officer
Legal Counsel
Business Development Director
Operations Manager
Risk Assessment Officer
Partnership Manager
Product Manager
Chief Technology Officer
Data Protection Officer
Treasury Manager
Credit Operations Director
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