Common use of Funding and Credit Terms Clause in Contracts

Funding and Credit Terms. (a) Notwithstanding anything contained herein to the contrary, Sage Payroll shall not be obligated to provide You with any Services unless and until Sage Payroll approves such Services for You. Sage Payroll's review process will begin upon its receipt of all of the documentation Sage Payroll requires. You agree to provide Sage Payroll with any and all information and documentation (financial or otherwise) that reasonably may be required by Sage Payroll in its review process. If approved, the Services will begin upon the date advised by Sage Payroll and shall automatically continue thereafter unless and until terminated as provided for by this DD Agreement. (b) You certify that the information You have provided or will provide to Sage Payroll is true, accurate and complete. You understand that the Services provided under the terms of this DD Agreement require credit approval. You authorize Sage Payroll to make whatever inquiries it deems necessary of others, including but not limited to, requesting Your consumer reports, bank credit information or other credit reference review. The credit approval process will be dictated by Your average net payroll. The credit process may require up to five (5) business days. Sage Payroll will advise You of Your processing schedule after credit approval ("Payroll Processing Schedule"). Sage Payroll reserves the right not to provide Services under the terms of this DD Agreement based on negative information received from consumer reports in compliance with the applicable provisions of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq. and its corresponding regulations. Sage Payroll agrees to process Your direct deposit payroll by initiating electronic debit and credit instructions through an Originating Bank. After credit approval, if You do not process payroll for six (6) months or more, Sage Payroll may deactivate Your account(s) and You acknowledge and agree that You must re-apply for credit and obtain credit approval from Sage Payroll if You desire to re-commence the Services. (c) You acknowledge and agree that reporting direct deposit after the time associated with Your Payroll Processing Schedule may result in late receipt of direct deposits on or after the Payroll Check Date. You further agree that You will cooperate with Sage Payroll to recover funds paid to any employee or any other nonemployee account in error, or in the event a debit entry to the Your Account is returned for any reason.