Terms & Conditions
A legal disclaimer
The explanations and information provided on this page are only general and high-level explanations and information on how to write your own document of Terms & Conditions. You should not rely on this article as legal advice or as recommendations regarding what you should actually do, because we cannot know in advance what are the specific terms you wish to establish between your business and your customers and visitors. We recommend that you seek legal advice to help you understand and to assist you in the creation of your own Terms & Conditions.
Terms & Conditions - the basics
PARTIES
​
This Agreement is made between:
​
[Your Company Name], a [State] limited liability company with offices located at [Your Address], ("FARM1140 LLC")
​
[Client Full Legal Name], residing at [Client Address], ("Client")
SCOPE OF SERVICES
FARM1140 LLC agrees to provide the following:
1. Financial consulting and credit-building strategy
2. Assistance in establishing and optimizing Client’s personal and business credit
3. Guidance in the acquisition of income-producing assets
4. Strategic advisory related to loan acquisition, tradeline stacking, and creative finance techniques
5. Ongoing support as outlined in attached Schedules
LIMITED POWER OF ATTORNEY
Client agrees to grant FARM1140 LLC a limited power of attorney, allowing Consultant to:
Submit business credit applications on Client’s behalf
Communicate with lenders, vendors, and financial institutions solely for approved activities
Access and share necessary identifying information (SSN, EIN, etc.) solely for purposes agreed upon
A separate notarized LPOA form shall be executed.
DATA USAGE & PRIVACY
Client authorizes Consultant to use personal and financial data for the purposes stated above, in compliance with applicable data protection laws (GLBA, CCPA, etc.). Consultant will not share, sell, or transfer this data to third parties outside the stated purpose.
NO GUARANTEE
FARM1140 LLC makes no guarantee of credit approval, loan amounts, or investment returns. All recommendations are educational in nature.
COMPENSATION
See attached Profit Sharing Addendum or custom fee schedule in Schedule B.
TERM & TERMINATION
This agreement shall remain in effect for [1 year, renewable annually], unless terminated by either party with 30 days' written notice.
Termination does not remove obligation of either party under any separate Joint Venture or Profit Participation Agreement. FARM1140 Holdings will retain the asset and profits upon separation. Venture or Profit Participation Agreement.
2. PROFIT SHARING ADDENDUM
BACKGROUND
This Addendum outlines a performance-based compensation structure whereby FARM1140 receives a share of profits generated from assets acquired or financed under the Client's portfolio as a result of FARM1140 LLC's services.
TERMS
1. Asset-Linked Profits: FARM1140 shall receive 20% of the net profits generated by each income-producing asset acquired during the term of this agreement, for the life of the asset or agreement.
2. Calculation:
“Net profits” defined as: Gross revenue minus direct operational expenses, debt service, taxes, and maintenance costs.
Client agrees to provide quarterly statements or allow FARM1140 LLC to verify income/expenses.
3. Payment Schedule: Distributions shall be paid quarterly to FARM1140 LLC via direct deposit or designated method.
4. Reporting Requirements: Client must disclose all investments made using strategies provided by FARM1140 LLC and comply with reporting standards set in Schedule C.
5. Duration: This Addendum remains valid for any asset acquired within 2 years of FARM1140 LLC services.
6. Dispute Resolution: In case of conflict, both parties agree to attempt mediation prior to legal action.
SIGNATURES
Client and Consultant agree to all terms and acknowledge understanding of rights and responsibilities under this Agreement and its Addendum.
​