Results 51 to 75 of 77
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08-12-2021, 02:15 PM #51
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It's all about Relationships.
MLM peeps generally market to their warm market and teach their Recruits to do the same. MCA's aren't our lead product - so, our Brokers will have probably procured a relationship via one of our other Products / Services.
Brokers will have many hooks available to help keep the Merchants once they have them as a Client and the Relationship . . ." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-12-2021, 02:23 PM #52
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Won't really be an issue. We will be transparent with peeps upfront that they can either participate in the Network and earn Personal + Team commissions / bonuses -or- they can do their own thing.
100% -vs- 50% with Team Bonuses may or may not make sense for them . . .
They can actually start within the Network and then self terminate their Broker Agreement with us when they are ready and wish to move on. They won't be able to take any Clients or Brokers with them, since our Broker Agreement will prohibit those actions." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-12-2021, 06:17 PM #53
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08-12-2021, 06:29 PM #54
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"since our Broker Agreement will prohibit those actions."
You are dealing with Independent Brokers - maybe if they were an "Employee" you could enforce a "Non-Compete"
The Merchant is not married to the broker or the funding company - nor is the Independent Broker married to you.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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08-12-2021, 07:10 PM #55
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" The world has always gone forward when people have dared to have crazy ideas . . . "
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08-12-2021, 07:11 PM #56
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08-13-2021, 09:47 AM #57
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08-13-2021, 10:53 AM #58
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08-13-2021, 12:42 PM #59
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- Mar 2014
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I know of several Lawyers that make a good living fighting so-called "Non-Competes"
BTW - I bring a merchant to the table - secure the funding (You write the check) - who's customer is it.
Mine or Yours?
IMO - Technically, neither - the merchant can choose to do business with whoever he/she wants.
So we are fighting over what?Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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08-13-2021, 01:06 PM #60
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08-13-2021, 01:18 PM #61
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" The world has always gone forward when people have dared to have crazy ideas . . . "
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08-13-2021, 01:22 PM #62
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" The world has always gone forward when people have dared to have crazy ideas . . . "
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08-13-2021, 01:31 PM #63
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If you bring the Merchant to the table while being part of our Network then that Merchant can't be serviced by that Broker or any 3rd party relationships of that Broker for a period of 2 years after the Broker Agreement is terminated.
That is how it is written up. Will it stand up in Court? In most cases it doesn't even go to Court because of the expense the Broker would have to incur to defend themselves.
Within the Network, we have a vested interest in that Broker and their production since we provided the training, the support and in some cases the "lead" that got the Merchant into the fold.
We don't care if the Broker leaves to do their own thing. They just can't take Merchants or other Brokers with them for 2 years after termination." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-13-2021, 01:33 PM #64
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08-13-2021, 03:52 PM #65
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08-13-2021, 04:13 PM #66
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08-13-2021, 05:11 PM #67
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08-13-2021, 05:27 PM #68
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08-13-2021, 05:34 PM #69
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Are you paying them salary or just 1099 cm ?from what I understand from a legal standpoint it is a big difference
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08-13-2021, 06:02 PM #70
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08-13-2021, 06:12 PM #71
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lol no Funder is gonna red-line their ISO agreement for you, or any beginner. They don't want you to move the deals you bring them. its a referral agreement, not your client. so only weak, desperate funders would agree to take that out of their ISO agreement with you, knowing their deals are put in jeopardy given your lack of knowledge, your willingness to already luc 1.49s at 6mths as an mlm biz model, and overall motor mouth without action.
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08-13-2021, 09:17 PM #72
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You would be surprised . . .
Then it behooves them to take care of us.
Unless the Funder provided the lead for said Client, the Client belongs to our Network and the Broker that brought them in. The Broker, has exclusive rights to said Client, provided that the Broker has an active Agreement with our Network and they are in good standing.
Funding Deals isn't rocket science. Additionally, our inhouse Manager + the Funder ISO Manager should be able to tell prior to funding if the Deal could be jeopardized.
Nothing wrong with 1.49's over 6 months if the Client qualifies for it. MLM bix model isn't evil. It allows Brokers to leverage their time and resources to create additional income.
LOL - you haven't a clue what actions we will be capable of Josh . . .
You seem to be just another keyboard warrior like Bcooper." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-13-2021, 09:22 PM #73
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Seems that this thread in this sub-forum has more replies than any other thread in this sub-forum in over 4 years.
Keep them coming.Last edited by cruisinman; 08-14-2021 at 12:58 PM.
" The world has always gone forward when people have dared to have crazy ideas . . . "
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08-16-2021, 10:22 AM #74
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08-16-2021, 10:49 AM #75
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lol buddy, I've been in this business for years. I'm stating fact about who owns the relationship in most agreements but yet you want to argue even though you haven't read 5 ISO agreements.
Id laugh at a broker like you if they asked to redline an agreement. only time funders even discuss that is high volume producing ISOs, and you dream of that, come back when you have even 10 brokers working for you.
1.49s at 6 mths and worse deals are why there are new laws for APR disclosures and more regulations and crackdown. You can pretend all you want that its ok because a merchant accepted it, but all you offer is talk about what you are going to do and not actually doing it. no 'disruptor' tells the whole world what they are doing before anything is accomplished.
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