Common use of Written agreement required Clause in Contracts

Written agreement required. (a) A debt settlement services provider may not perform, or impose any charges or receive any payment for, any debt settlement services until the provider and the debtor have executed a debt settlement services agreement that contains all terms of the agreement between the debt settlement services provider and the debtor, and the provider complies with all the applicable requirements of this chapter. (b) A debt settlement services agreement must: (1) be in writing, dated, and signed by the debt settlement services provider and the debtor; (2) conspicuously indicate whether or not the debt settlement services provider is registered with the Minnesota Department of Commerce and include any registration number; and (3) be written in the debtor's primary language if the debt settlement services provider advertises in that language, or in the language in which the agreement was negotiated, regardless of whether the debt settlement services provider advertises in that language. (c) The registrant must furnish the debtor with a copy of the signed contract upon execution.