20/20 Program Terms of Service

Diverse real estate team grouped in a circle
Our program is very simple and fully transparent

Step 1. Agents Agree to the Terms of Service and Apply for the Program.

Step 2. Approved Agents upload specific types of leads from their client logs. 

Step 3. We send periodic communications to these leads. 

Step 4. Leads that show interest in our programs are contacted directly by a loan advisor. 

Step 5. If a funding transaction is completed with an Agent-provided lead, 20% of the transaction proceeds are distributed to the Agent that sourced the lead. 

20/20 PROGRAM INDEPENDENT CONTRACTOR AGREEMENT

I.  THE PARTIES. This Independent Contractor Agreement (“Agreement”) is by and between: Up Capital & Mortgage, Inc., DBA Up Mortgage (Company) and Agent (Contractor).

 In consideration of the mutual terms, conditions, and covenants hereinafter set forth, Contractor and Company agree as follows:

 II.  SERVICES. The Contractor shall provide the following services:

a.  Contractor shall provide to Company a list of prior clients (Contact List) and Company may process up-to a maximum of 20 Contact List leads at any one time. 

b.  For compliance purposes no active listings are allowed in the Contact List.

c.  Contractor shall not provide contact information for any persons that Agent did not engage with in a professional relationship

d.  Other than for the specified use by Company, Contact List shall remain the property of Contractor

e.  Contact List shall match the demographic and geographic criteria established by Company

f.  The Contact List criteria may be updated by Company from time-to-time

g.  The Contact List shall contain at a minimum, the following information for each prior client:

      1. contact full name(s)
      2. contact residence address
      3. contact telephone number
      4. contact email address

III.  TERM. The term begins upon written acceptance by Company of the Contractor’s application, delivered to Agent.

 IV.  TERMINATION. Either Party may terminate this Agreement without cause:

a.  Providing a minimum of 30-days prior notice
b.  Notice must be provided in writing to the Parties listed in Section I, and
c.  delivered by one of the following methods:

      1. USPS Certified Mail – Return Receipt Requested, postage prepaid
      2. Email with either read receipt or confirmation of receipt

 V.  COMPENSATION. In exchange for the services provided by the Contractor, the Company agrees to pay the following:

  • 20% of Mortgage Transaction Fees generated by the closing of financing with a verified lead supplied by Contractor
  • Compensation to be distributed to Contractor within 5 working days of Transaction Funding
  • In the event that duplicate leads are supplied by more than one Contractor, Company compensation shall default to the first Contractor providing the lead.
  • There is no compensation paid to Company when Company generates a real estate transaction for Contractor

 VI.  EXPENSES. There are no billable expenses related to the terms of this Agreement.

 VII.  INDEMNIFICATION. The Contractor shall indemnify and hold the Company harmless from any loss or liability from performing the Services under this Agreement.

 VIII.  ASSIGNMENT. Neither the Company nor the Contractor may assign this Agreement without the express written consent of the other party.

IX.  RELATIONSHIP DEFINED. Contractor acknowledges status as Independent Contractor. The Contractor’s engagement pursuant to this Agreement shall be as independent contractor, and not as an employee, officer or other agent of the Company. Neither party to this Agreement shall represent or hold itself out to be the employer or employee of the other. Contractor further acknowledges the consideration provided hereinabove is a gross amount of consideration and that the Company will not withhold from such consideration any amounts as to income taxes, social security payments or any other payroll taxes. All such income taxes and other such payment shall be made or provided for by Contractor and the Company shall have no responsibility or duties regarding such matters.

 X.  OTHER AGREEMENTS. It is agreed between the parties that there are no other agreements or understandings between them relating to the subject matter of this Agreement. This Agreement supersedes all prior agreements, oral or written, between the parties and is intended as a complete and exclusive statement of the agreement between the parties. No change or modification of this Agreement shall be valid unless the same be in writing and signed by the Parties.

 XI.  LEGAL NOTICE. All notices or required or permitted to be given hereunder shall be in writing and may be delivered by email with a confirmation reply addressed to those mentioned in Section 1. Or by Certified Mail – Return Receipt Requested, postage prepaid, addressed those mentioned in Section I.

 XII.  BINDING ARBITRATION. Any controversy or claim arising out of or relating to this Agreement, or the breach hereof, shall be settled by arbitration pursuant to the Commercial Arbitration Rules of the American Arbitration Association, and judgment on the award rendered by the Arbitrator(s) shall be binding, conclusive and non-appealable and may be entered in any court having jurisdiction thereof.

XIII.  GOVERNING LAW. This Agreement shall be construed in accordance with and governed by the laws under the state of California, County of San Francisco.