Client: [Business Name] ("The Furnisher")
Processor: National Data Compliance Group ("The Processor")
The Processor agrees to convert the Furnisher’s internal accounts receivable ledger into Metro 2® Format and transmit said data to the Credit Reporting Agencies (CRAs) on a monthly cycle via the Switch Labs infrastructure.
The Furnisher warrants that:
● All data provided is accurate and verifiable.
● The Furnisher has a "Permissible Purpose" under the FCRA to report this debt.
● The debt is not beyond the Statute of Limitations for reporting (7 years).
The Furnisher agrees to indemnify and hold harmless the Processor (NDCG) from any claims, lawsuits, or fines arising from the Furnisher’s provision of inaccurate, false, or malicious data. If a consumer sues because the debt was not valid, the Furnisher accepts full liability.
The Processor agrees to handle all Automated Credit Dispute Verifications (ACDVs) received via e-OSCAR. If a consumer disputes an item, the Processor will verify the data against the Furnisher’s ledger. If the data cannot be verified, the item will be deleted in accordance with the law.
● Implementation: $2,500.00 (One-Time).
● Compliance Retainer: $597.00 / Month.
● Payments are due on the 1st of the month. Failure to pay will result in the immediate suspension of data reporting (The "Ghost Data" Clause).