This Credit Report Service Contract is an agreement whereby a credit bureau agrees to
provide a subscriber with credit reports regarding persons, firms and companies,
provided that the subscriber is requesting the credit check for a legal and enumerated
purpose. The agreement calls for an annual fee and a per report fee. This document in
its draft form contains numerous of the standard clauses commonly used in these types
of agreements; however, additional language may be added to allow for customization
to ensure the specific terms of the partiesâ€™ agreement are addressed. Use this contract
when entering into a service agreement with a credit reporting agency.
CREDIT REPORT SERVICES AGREEMENT
This services agreement (the â€œAgreement), is made this ____ day of _____________, 2______
[Instruction: Insert Date] (the â€œEffective Dateâ€), by and between _______________
[Instruction: Insert Credit Bureau Name], __________________ [Instruction: Insert
Address] (the â€œCompanyâ€) and __________________ [Instruction: Insert Subscriber Name],
__________________ [Instruction: Insert Address] (the â€œSubscriberâ€).
WHEREAS, the Company is in the business of furnishing certain information, including but not
limited to: identifying information, credit history, employment and public record information
WHEREAS, Subscriber desires to utilize Companyâ€™s services to obtain Information regarding
certain individuals, firms or corporations (each a â€œPersonâ€) for lawful purposes;
NOW, THEREFORE, In consideration of the mutual promises, covenants, stipulations and
agreements set forth herein, Company and Subscriber hereby acknowledge and agree as follows:
Provided that Subscriber fully performs all of Subscriberâ€™s material obligations hereunder, within
seventy two (72) hours of Companyâ€™s receipt from Subscriber of a fully completed â€œReport
Request Formâ€, a copy of which is attached as Schedule â€œAâ€ hereto, containing adequate
information regarding the Person for whom such report is requested and complying with the
terms and conditions contained herein as well as with all applicable Federal and State statutes,
Company shall run and provide Subscriber with a report that provides Information regarding the
particular Person (the â€œReportâ€).
A. In full consideration of Companyâ€™s Services, Subscriber shall pay the following fees (the
â€œFeesâ€) to Company:
i. a subscription fee in the amount of _________ Dollars, ($_____)[Instruction: Insert
Amount] per annum ; and
ii. a Report request fee in the amount of _________ Dollars, ($_____)[Instruction:
Insert Amount] per Report.
B. The Fees shall be due and payable within thirty (30) days of Subscriberâ€™s receipt of
Companyâ€™s invoice indicating as such. After said period, all unpaid Fees shall be subject to
Companyâ€™s standard late payment fees and penalties, including but not limited to the accrual of
interest at the legal rate. Further, if Subscriber fails to pay any Fees within ninety (90) days of
Subscriberâ€™s receipt of Companyâ€™s invoice, Company reserves the right to refuse to run
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3. USE OF INFORMATION
A. The Subscriber will comply with all the provisions of Public Law 91-508 (the â€œFair
Credit Reporting Actâ€) and all other applicable statutes, both state and federal.
B. Reports will be requested only for the Subscriber's exclusive use, and the Subscriber
certifies that inquiries will be made only when the Subscriber intends to use the Information for a
permissible purpose, namely:
i. In connection with a credit transaction involving the extension of credit to or review
or collection of an account of the Person whom the Report is regarding
ii. For employment purposes; provided that: Subscriber provides advance written notice:
(a) to the Person seeking employment that the Report is being requested; and (b) to the Company
that the Report is regarding employment.
(a) Reports regarding employees shall only be requested by Subscriber's designated
representatives. Employees will be forbidden to attempt to obtain Reports regarding themselves,
associates, or any other person except in the exercise of their official duties.
iii. In connection with the underwriting of insurance involving the Person.
iv. In connection with a business transaction involving the Person; provided that the
Subscriber certifies the legitimate business need for the Report.
C. It is acknowledged that the Fair Credit Reporting Act provides that any person who
knowingly and willfully obtains information on a Person from a consumer reporting agency
under false pretenses shall be fined not more than Five Thousand Dollars ($5,000) or imprisoned
not more than one (1) year, or both.
A. All Information and/or Reports received by Subscriber from the Company, whether
written, printed or oral, is for the exclusive use of Subscriber, and in the event that the disclosure
of such information leads to any claims or litigation, the Subscriber shall hold the Company
harmless from any liability, damages or cost or expense including reasonable attorney's fees
B. The Company shall not be liable in any manner whatsoever for any loss or injury to
Subscriber resulting from the obtaining or furnishing of such Information and/or Reports and
shall not be deemed to h