EVEREST BUSINESS FUNDING - DEAL EXCLUSIVITY POLICY CHANGE - PLEASE NOTE

Due to the increase in competition for certain deals, we are finding many situations where an ISO Partner is blocked from competing because another ISO Partner has submitted the deal and received an offer, but is unable or unwilling to close the deal with Everest.

To create a fair and competitive playing field for all ISO Partners, we are establishing the following new Deal Exclusivity Rules.
Any ISO submitting a deal that qualified for an offer will receive that same offer.
Offers will be amended on an ISO by ISO basis. What this means that if two ISOs have an offer, but one asks for a larger amount, additional days, etc. and is granted that request, then other ISO may also request the same changes and will receive that revised offer, but they have to ask for it.
The first ISO to send in CORRECTLY signed contract and stipulations will be the ISO of record for Final Underwriting and Funding.
Sending only a signed contract but no stipulations will not prevent another ISO from claiming the deal by sending the correctly signed contract and all stipulations.
Once Contracts are received an ISO has five (5) business days for that deal to fund. If the deal cannot be funded because of missing items, reluctant merchant, unavailable landlord, or some other reason, then the deal will be automatically killed. The deal may be re-activated if missing items are submitted, but this will not be automatic, it will be allowed on a case by case basis. Until a deal is re-activated, it will be open for another ISO to submit and clos