FICO Scoring Certifications Sample Clauses

FICO Scoring Certifications. NCC and Client hereby understand and agree to the following terms and conditions regarding the use of Consumer Reports and reason codes obtained through NCC and the Credit Bureaus: a. Client may disclose the Consumer Reports provided to Client to credit applicants, when accompanied by the corresponding reason codes, in the context of bona fide lending transactions and decisions only. b. The client agrees to comply with all applicable laws and regulations with respect to the use of the Consumer Reports and reason codes purchased from NCC and certifies that it has a permissible purpose under the FCRA to obtain said Consumer Reports. The client agrees to limit its use of the Consumer Reports and reason codes to its own business and will not sell, transfer, license, or distribute Consumer Reports or reason codes to third parties. Client agrees to maintain security procedures to minimize the risk of disclosure of Consumer Reports to employees without a legitimate need to know. c. Client will not permit its employees, agents, or subcontractors to use any of the trademarks, service marks, logos, names, or any other proprietary designations, whether registered or unregistered, of Equifax Information Services LLC, Transunion, Experian Information Solutions, Inc., Fair Xxxxx and Company, or the Affiliates of either of them or of any other party involved in the provision of the Credit Bureau/Fair Xxxxx Model, without such entity’s prior written consent. d. Client will not permit its employees, agents, or subcontractors to, in any manner, directly or indirectly, discover or reverse engineer (or attempt to discover or reverse engineer) any confidential and proprietary criteria developed or used by Credit Bureau/Fair Xxxxx in performing the Credit Bureau/Fair Xxxxx Model. e. The Credit Bureau/Fair Xxxxx has warranted to NCC that the Credit Bureau/Fair Xxxxx Model is empirically derived and demonstrably and statistically sound and that to the extent the population to which the Credit Bureau/Fair Xxxxx Model is applied is like the population sample on which the Credit Bureau/Fair Xxxxx Model was developed. The Credit Bureau/Fair Xxxxx Model score may be relied upon by Client to rank consumers in the order of the risk of unsatisfactory payment such consumers might present to Client. Credit Bureau/Fair Xxxxx has further warranted NCC that so long as it provides the Credit Bureau/Fair Xxxxx Model, it will comply with regulations promulgated from time to time pursuant to the ...
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Related to FICO Scoring Certifications

  • CERTIFICATION REGARDING CERTAIN FOREIGN OWNED COMPANIES IN CONNECTION WITH CRITICAL INFRASTRUCTURE (Texas law as of September 1, 2021) By submitting a proposal to this Solicitation, you certify that you agree, when it is applicable, to the following required by Texas law as of September 1, 2021: If (a) company is not a sole proprietorship; (b) company has at least ten (10) full-time employees; (c) this contract has a value of at least $100,000 that is paid wholly or partly from public funds; (d) the contract is not excepted under Tex. Gov’t Code § 2274.003 of SB 19 (87th leg.); and (e) governmental entity has determined that company is not a sole-source provider or governmental entity has not received any bids from a company that is able to provide this written verification, the following certification shall apply; otherwise, this certification is not required. Pursuant to Tex. Gov’t Code Ch. 2274 of SB 19 (87th session), the company hereby certifies and verifies that the company, or association, corporation, partnership, joint venture, limited partnership, limited liability partnership, or limited liability company, including a wholly owned subsidiary, majority-owned subsidiary parent company, or affiliate of these entities or associations, that exists to make a profit, does not have a practice, policy, guidance, or directive that discriminates against a firearm entity or firearm trade association and will not discriminate during the term of this contract against a firearm entity or firearm trade association. For purposes of this contract, “discriminate against a firearm entity or firearm trade association” shall mean, with respect to the entity or association, to: “ (1) refuse to engage in the trade of any goods or services with the entity or association based solely on its status as a firearm entity or firearm trade association; (2) refrain from continuing an existing business relationship with the entity or association based solely on its status as a firearm entity or firearm trade association; or (3) terminate an existing business relationship with the entity or association based solely on its status as a firearm entity or firearm trade association. See Tex. Gov’t Code § 2274.001(3) of SB 19. “Discrimination against a firearm entity or firearm trade association” does not include: “ (1) the established policies of a merchant, retail seller, or platform that restrict or prohibit the listing or selling of ammunition, firearms, or firearm accessories; and (2) a company’s refusal to engage in the trade of any goods or services, decision to refrain from continuing an existing business relationship, or decision to terminate an existing business relationship to comply with federal, state, or local law, policy, or regulations or a directive by a regulatory agency, or for any traditional business reason that is specific to the customer or potential customer and not based solely on an entity’s or association’s status as a firearm entity or firearm trade association.” See Tex. Gov’t Code § 2274.001(3) of SB 19.

  • Regulatory Good Standing Certification Does Vendor certify that its entity is in good standing will all government entities and agencies, whether local, state, or federal, that regulate any aspect of Vendor's field of work or business operations? If Vendor selects "No", Vendor must provide explanation on the following attribute question. Yes

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