[RickyR3712]

If a rep sent me an email that I will get paid 10 points on a deal and it turns out that due the funding amount it was capped at 5% and that is in the iso agreement(That i signed 5 years ago). Is there any recourse?I only sold it with that lender based on the rep email that i will get paid 10%.Lender "upper management" basically told me all i will accomplish will be to get the rep fired.
Has anyone had this happened to them?is there anything legally i can do? Thanks for your help

[Funder Mark]

Sounds like you are SOL.

[sigmundpannu]

The contract rules. Doesn't matter what the rep said. Unfortunately sounds like you don't do much business with this company to know how they operate

[RickyR3712]

The contract rules. Doesn't matter what the rep said. Unfortunately sounds like you don't do much business with this company to know how they operate

What is the number to be considered doing "much"business?I funded in 2016 4 million over 82 deals.This is the first time i funded a 500k plus with them.

[Michael I]

Happened to me a couple of times years ago. Best move is to push for some bonus points and move on.

[WestCoastFunding]

What is the number to be considered doing "much"business?I funded in 2016 4 million over 82 deals.This is the first time i funded a 500k plus with them.

Edit: Seems the ISO agreement would rule, and that rep would be responsible for providing false info. You've funded a bunch of deals with them so I'm sure you have a good relationship with that rep? Did he give an explanation why he quoted 10?

[Karen37a]

I would have to have more information to give an answer. What was the rate etc. Algorithms. ( Then I could guess if that was a mistake, or again make a guess if someone took the points away after the fact)

Written contracts do rule. But what I could guess happened was a tier 1 , tier 2 pricing, glitch. And if that was the case it might have been the rep making a mistake on the commission pricing in the email.

It happened to me once. When I checked I am the one that ok'd the pricing for the downward commission , didnt catch it. That was that

[RickyR3712]

It was 100% a mistake of a new processor that sent the offer as a 12 month 1.35 with ten points built in.
Thank you Michael I pushed for a bonus like you said. They gave me a 2 point bonus on the entire February which equaled another 3.5% on this deal so i found that very fair.

[golf2014]

The issue I'm finding is that the dept that pays the deals is not often available to iso direct. I recently was to be paid on a deal and the rep had to sign off for me to be paid...why??