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04-05-2013, 12:35 AM #1
- Join Date
- Apr 2013
- Posts
- 359
Application Disclaimer/Ownership
Does anyone have any tips as to what disclaimer/language needs to be on an Application to protect it for both the broker and the merchant? I am particularly surprised at the stories I've heard of banks demanding their own application be used, while others don't require it at all. Why would a bank need their own application? Most of the time, we'll never know which bank we're going to send a deal to before getting the submission back.
What gives?
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04-05-2013, 08:39 AM #2
- Join Date
- Sep 2012
- Location
- Gainesville Florida
- Posts
- 168
Since we are a decline house... it makes no sense for us to request an application on our agreement as most deals we receive are usually denied by other funders first. I will say that the application we work with must have a third party disclaimer or partner disclaimer at the bottom with the merchants signature just allowing and notifying that the application will be reviewed by other parties other than yourself.