Terms and Conditions
Terms and Conditions of Service Updated July 2018
Benjamin Verde Incorporated. (“Benjamin Verde”) collects personal information, including your name, address, telephone number, social insurance number, income and other financial information, banking, vehicle, and reference information to confirm your identity and qualify you for the services for which you have applied. From time to time, Benjamin Verde may share this information with its subsidiaries as well as third party collection agencies whom we engage to assist us in the collection of bad debt or to agencies that acquire bad debt for a cost of one hundred dollars that you will be liable for in the event you fail to pay for the services for which you have applied and your account is placed in default for any material breach.
The following documents will be required to process your funding request along with your completed online application;
(1.) A statement showing last 30 days of banking transactions;
(2.) Recent phone bill (from the home address listed on application);
(3.) Copy of one (1) piece of ID – Government issued with photo and signature;
(4.) Thirty percent minimum down payment deposit (30% of Artist Advance) value * in addition to the down payment any and all Merchandise, Social Media, Marketing, Music Video, Radio Tracking, Advertising, Tour Support, Business Development and/or combination of the above. The Company has defined such items as (Intangible Assets). These Advances will require a Collateral Deposit in the form Electronic goods or Jewellery with a value that is greater than the Assigned Artist Advance amount. A Collateral Transfer Form must also be completed prior to funding.
(5.) Assigned Processing Transaction (APT) fees will follow the schedule illustrated below and will only apply to approved applications.
(6.) in addition to the above requirements, The Company may also request that the applicant provide a Co-Signers/Guarantors for Equipment Financing.
(7.) A Monthly Convenience Service Charge (MCSC) follows the schedule below in accordance with the applicable tier.
i) Rookie $29.50
ii) Starter $38.50
iii) Pro $45.00
Based on the amount Advanced in addition to monthly installment principal payments;
(8.) A (One-time) Data Maintenance Fee of $37.50 will be added to the Principal Sum of the Advance amount.
Artist Advances Tiers: APT Fees by Tiers:
Assigned Equipment Financing Tiers:
APT Fees by Tiers:
Grant Processing Period & Fees:
The following will be required to process your Grant application
(1.) The Contribution Committee has 10 business days to review and make a decision regarding your Application (Weekly submission deadline: Every Thursday at 2:00 PM Eastern Standard Time)
(2.) The recipient is responsible for applicable taxes in relation to the amount of the grant contribution that has been approved by the Contribution Committee and in accordance with provincial and state legislation.
(3.) (i) The cost of the Review and Feedback service is $10.00 plus applicable taxes for customers and clients and (ii) All non-clients will be required are required to remit an processing fee of $10.00 plus applicable taxes.
(iii) If an Applicant is declined for a Grant the Contribution Committee will not issue any refunds or credits to the Applicant.
(iv) The Applicant (approved or declined) shall receive the Feedback service as part of the application process.
(4.) Qualified candidates may receive “micro-grant” contributions ranging between ($100) – ($500) dollars per applicant per funding category
(5.) Applicants have two (2) days from the date of the online application to pay the Application Processing Fee of $10.00, and the will be application cancelled, and noted as “Withdrawn by Applicant”.
(6.) The Application Processing Fee for the “Open Box” Grant is non-refundable. No exceptions!
(7.) Qualified candidates must first obtain a minimum thirty-minute (30) consultation to be eligible for any funding consideration.
Refunds and Credits Guarantee “RCG”
(1.) No Refunds available on APT fees on approved advances;
(2.) The Company will issue a Credit that is to be added to the customers personal account with Benjamin Verde;
(3.) RCG credits are non-transferable and hold no cash value.
(4.) No refunds will he provided to applicants who have purchased software in accordance with the Benjamin Verde Incorporated Return and Refund Policies.
(5.) Applicants may apply for all available contributions but must submit an online application for the each associated contribution category. The Benjamin Verde Incorporated Refunds and Credits Guarantee “RCG” policy is based on the completion of the RCG Request form and is will be reviewed at the sole discretion of the of the Quality Assurance Department.
Notice of Consent
Please Read Before Signing: As a condition of Benjamin Verde lending me money based on the information provided above, I make the following representation: I am not contemplating filing for bankruptcy within the next four months and have not consulted with an attorney or trustee concerning bankruptcy in the last 2 months.
Benjamin Verde Incorporated (BV) may collect information (as defined below) during the course of your relationship with Benjamin Verde from credit bureaus, other financial institutions, and the references you provide Benjamin Verde. Benjamin Verde may also disclose Information to credit bureaus and financial institutions. (The word “Information” means financial and financially-related information about you, in a business or personal capacity, including information to identify you or qualify you for products and services, or information that Benjamin Verde needs for regulatory requirements.)
Your Privacy is protected and is available at the Benjamin Verde head office or www.benjaminverde.com which describes how Benjamin Verde Incorporated collects, uses, discloses and retains information about you and the products and service you use.
To protect both you and us, we use services provided by a third-party to help decide whether to accept transactions from personal computers, mobile phones, or other devices. The third-party service checks whether these devices have been identified with fraudulent or abusive transactions in the past, such as reported instances of identity theft, account takeovers, or malware attacks.
For this purpose, a cookie file, flash storage token, or other code file may be placed on your device to identify it in the future when you visit our website or connect with our applications. On connection with our site or service, we will transmit that device identification code to the third-party’s server, along with data concerning certain technical attributes of your device such as the model, operating system, and browser version, as well as the IP address, all of which are used to confirm device identification.
The third-party’s server responds with a code recommending that transactions be accepted, denied, or reviewed, according to settings we have selected. We also report to the third-party if we conclude that a device has been used in connection with a fraudulent or abusive transaction with us. If you set your browser or device to reject these cookies or tokens, you may not be able to conclude some transactions through our website or application. We share with the third-party referenced above only information about the device you are using, which may also have been used or appropriated by others, and do not identify you or reveal the details of your transaction to that third-party. If your requested transaction is declined, or if you have questions about our use of a “device reputation” service, please contact Customer Service.
i.) Disclosure with Benjamin Verde Incorporated. BV may share Information with the company so that BV may tell you about products and services.
ii.) Direct Marketing. Benjamin Verde may tell you about products and services via direct mail, telephone and other direct means.
If you do not wish to consent to (i.) or (ii.), you can contact BV at 1.888.995.8926 at any time. You will not be refused credit or other services just because you withdraw your consent to (i.) or (ii.). Including your Social Insurance Number (SIN) in this credit bureau request is the best way to ensure credit bureau information accurately refers to you. However, this is completely optional, and if you opt not to give Benjamin Verde permission, this by itself will not prevent you from continuing the credit application process.
Landlord waiver The borrower indemnifies the Company, its agents, affiliates, employees and directors from any damages caused as a result of repossession or other means of recovery at the place of the borrower’s residence or wherever the equipment is being held and grants the Company irrevocable access to all applicable premises. Furthermore, hereby gives consent to Benjamin Verde Incorporated request to attend as well as enter the private property of the borrower.
I hereby give my consent to Benjamin Verde Incorporated to include my SIN in the credit bureau request.
Benjamin Verde Incorporated may obtain a credit report on you from Trans Union Canada Inc. If you wish to review a copy of your credit report file, contact Trans Union of Canada Inc. Consumer Relations Centre, P. O BOX 338 LCD1, Hamilton Ontario, L8L 7W2, 1.800.663.9980
Variable Pre-Authorized Credits/Debits
You acknowledge that the authorization is to allow the business with whom your agreement is with to debit funds from your bank/credit union account for regular or recurring payments and/or a one-time full payment based on your payment obligations in accordance with the terms and conditions described in this agreement. YOU HEREBY WAIVE ANY LEGISLATIVE OR REGULATORY REQUIREMENT FOR PRE-NOTIFICATION. You understand this is a personal Pre-Authorized Debit, and that only Benjamin Verde Incorporated or its service provider Plooto will debit or credit your bank account on file.
You may revoke your authorization at any time, subject to providing notice 10 business days before the next scheduled debit. You can obtain a sample cancellation form or more information on your rights to cancel a PAD agreement at your financial institution or by visiting the www.cdnpay.ca. You can also reach out directly to us and cancel your authorization.
You have certain recourse rights if any debit does not comply with this agreement (because the debit was not withdrawn in accordance with this authorization or amounts were withdrawn after the agreement was revoked). For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD agreement based on the timeline set out by the Canadian Payment Association. To obtain more information on your recourse rights, contact your financial institution or the Canadian Payment Association. Please Note: Transaction dates that fall on a weekend or holiday will be processed the next business day.
Processing Fee and Annual Membership Fee
No Affiliate Agreement is binding on the Company unless this Agreement is first countersigned by an officer of the Company, and until this Affiliate Agreement is accompanied by the initial processing and membership fees. The current processing fee is free. By signing below, the individual executing this Agreement on behalf of the Affiliate represents that he or she has all requisite signing authority for and on behalf of the entity seeking to participate and that the Initial Processing Fee will be forthcoming immediately upon receipt of invoice.
New Affiliate Funding Line:
Tier 1 “Rookie Package”
The Company shall make a Tier 1 “Rookie” Affiliate Funding Line available on a monthly basis of up to $2,000.00 at a fixed interest rate of 3.75% per month. The Affiliate Member shall remit a non-refundable Affiliate Funding Line Monthly Access Fee “Access fee” payable to the Company in the amount of $9.79 via pre-authorized debit of the Affiliates bank account or by pre-authorized credit card payments.
Tier 2 “Starter Package”
The Company shall make Tier 2 “Starter” Affiliate Funding Line available on a monthly basis of up to $4,000.00 at a fixed interest rate of 3.50% per month. The Affiliate Member shall remit a non-refundable Affiliate Funding Line Monthly Access Fee “Access fee” payable to the Company in the amount of $18.59 via pre-authorized debit of the Affiliates bank account or by pre-authorized credit card payments.
Tier 3 “Pro Package”
The Company shall make Tier 3 “Pro” funding available on a monthly basis to the Affiliate of up to $6,000.00 at a fixed interest rate of 3.25% per month The Affiliate Member shall remit a non-refundable Affiliate Funding Line Monthly Access Fee “Access fee” payable to the Company in the amount of $37.78 via pre-authorized debit of the Affiliates bank account or by pre-authorized credit card payments.
Tier 4 “BVIP Package”
The Company shall make Tier 4 “BVIP” funding available on a monthly basis to the Affiliate of up to $10,000.00 at a fixed interest rate of 2.78% per month The Affiliate Member shall remit a non-refundable Affiliate Funding Line Monthly Access Fee “Access fee” payable to the Company in the amount of $48.69 via pre-authorized debit of the Affiliates bank account or by pre-authorized credit card payments.
The Company shall make Verdefied funding available on a monthly basis to the Affiliate of up to $25,000.00 at a fixed interest rate of 1.82% per month The Affiliate Member shall remit a non-refundable Affiliate Funding Line Monthly Access Fee “Access fee” payable to the Company in the amount of $60.69 via pre-authorized debit of the Affiliates bank account or by pre-authorized credit card payments.
Funds advanced to the Affiliate on behalf of its clientele, shall be for the sole purpose of providing the services that are to be rendered by the Affiliate, and may not be used for any other reason, for greater certainty, the Affiliate shall not misappropriate funds for the purchase of personal items, renovation or leasehold improvements or the purchase of any business-related expenditures without prior written approval from the Company.
i) Affiliate may hire the Company to collect monthly payments in addition to any applicable service charges and fees directly from the Affiliates customers who have been approved for funding by the Company in accordance with the Terms of Service.
ii) The Affiliate will repay the full amount advanced via the “Affiliate Funding Line” plus any applicable service charges and fees described within this Affiliate Funding Line Agreement
(a) No less than 48 hours prior to the agreed upon day of the scheduled event for which Benjamin Verde funds were used
(a) 90 days or within the same quarter in which the funds were disbursed or
(b) monthly installments not exceeding 21 days within the subsequent quarter from which the funds were disbursed plus any applicable service charges and fees in accordance is the Company’s Terms and Conditions.
Please Note: No further funding will be advanced until the outstanding balance has been satisfied.
Term of Agreement (Affiliates)
The term of agreement shall be on a year-to-year basis, expiring at the end of the 365th day from the date of execution of an Affiliate Agreement. The Company will issue the current renewal notice to its Affiliates ninety (90) days prior to the expiration of the pending term. Failure to make a timely renewal may cause suspension and termination of the Affiliates benefits.
Please note that Benjamin Verde does not currently fund to U.S. residents or residents of countries other than Canada at this time, but intends on servicing these territories in the future. Please note that Benjamin Verde does requires a down payment deposit equal to thirty percent of the artist advance value upon confirmation of approval as well as any applicable service charges or fess. Should you receive any such calls or requests, please contact our Artist Services Department at 1-888-995-8926.