payment plan agreement

Buyer
Name:
Address:
City:State:Zip:
Cell:
Seller
Name:
Address:
City:State:Zip:
Email:

 

You, the Buyer, may buy the Mechanical Breakdown Insurance Policy (“Mechanical Breakdown Coverage”) for the total cash price shown in the itemization or according to the terms of this Payment Plan Agreement (“Agreement”). By signing this Agreement, you choose to buy the Mechanical Breakdown Coverage from TriStar Indemnity, LLC dba Olive Insurance Solutions “olive” and pay for it according to this Agreement. The Mechanical Breakdown Coverage is issued by QBE insurance Company (“Insurer”). The Mechanical Breakdown Coverage number is provided at the top of this Agreement. You and we agree to be bound by the terms of the Agreement. “We,” “us” and ‘our’ refer to Olive, and upon assignment of this Agreement, to Paylink Payment Plans, LLC (“Paylink Direct”). The important Disclosures below are part of this Agreement.

Except as checked, you have purchased the Mechanical Breakdown Coverage primarily for personal, family or household use.
▢ Agricultural ▢ Business

Itemization of Payment Plan Amount
(a)CASH PRICE (before taxes)$(3600)
(b)TAXES on SALE$(0)
(c)TOTAL CASH PRICE (a + b)$(3600)
(d)FIRST PAYMENT (made at time of purchase)$(100)
(e)TOTAL UNPAID BALANCE (c – d)$(3500)

important disclosures

ANNUAL PERCENTAGE RATE

The cost of your credit as a yearly rate.

0.00%

FINANCE CHARGE

The dollar amount the credit will cost you.

$ 0.00

Amount Financed

The amount of credit provided to you or on your behalf.

$[3600]

Total of Payments

The amount you will have paid after you have made all payments as scheduled.

$[3600]

Total Sale Price

The total cost of your purchase on credit, including your first payment of$[100]
$[3600]
Payment Schedule

Number of Payments 36
Amount of Each Payment $[100]
When Payments are Due Monthly beginning [05/21/2020]

Security Interest: You give us a security interest in any refund due upon cancellation of the Mechanical Breakdown Coverage.

Prepayment: If you pay early, you will not have to pay a penalty.

Please read this Agreement for additional information about security interests, non-payment, default, and any required repayment in full before the scheduled date.

Payment Authorization

You have paid Olive the first payment in the amount set forth above. You will make your remaining payments, as scheduled and disclosed in the Important Disclosures, to Olive using your preferred payment option selected below. You authorize us to make the applicable number of consecutive monthly charges to your account listed below (either your credit/debit card account or your preferred electronic payment platform account) in the amount and on the dates specified in the Important Disclosures above. This authority will remain in effect until the Payment Plan Amount is paid in full, or until we receive written notification of termination from you in time to allow reasonable opportunity to act on such notification. You agree to notify us in writing of any changes in your account information or termination of this authorization at least 3 business days prior to the next payment date. If you change your credit/debit card account, or electronic payment platform account, this authorization remains effective for your new account once you provide the new account information to us. You request the financial institution that issued your card or holds the account to honor the charges that we initiate.

Payment Option Selected:

Authorization for Apple Pay Digital Wallet Service

Additional Terms and Conditions

promise to pay

You agree to pay us the Payment Plan Amount according to the terms of this Agreement.

cancellation and assignment of rights

You have the right to cancel the Mechanical Breakdown Coverage at any time in accordance with the terms of the Mechanical Breakdown Coverage. If you exercise the right to cancel the Mechanical Breakdown Coverage before making all payments, you agree to send written notice of the cancellation to us. You authorize us to direct the Insurer to cancel the Mechanical Breakdown Coverage if we do not receive any payment within 10 days of the scheduled payment date, or as applicable law allows.

You hereby grant us a security interest in and assign to us your right to receive refunds pursuant to the Mechanical Breakdown Coverage. If the Mechanical Breakdown Coverage is cancelled before you have paid the full Payment Plan Amount to us under this Agreement, any refund due to you after proceeds are applied to your outstanding obligations under this Agreement (the “Buyer Refund”) will be paid to you. The Buyer Refund is calculated in the manner described in the Mechanical Breakdown Coverage but based on amounts actually paid by you rather than the Total Sales Price of the Mechanical Breakdown Coverage.

payments after cancellation

Any payment you make after we receive a notice of cancellation will not constitute a reinstatement of the Mechanical Breakdown Coverage but will be applied to your outstanding obligations under this Agreement. Neither the acceptance nor the application of any payment will constitute the reinstatement of Mechanical Breakdown Coverage or constitute a waiver of any default hereunder.

default

If you fail to make any payment when due or, subject to the requirement in this section, fail to comply with any other provision in this Agreement (default), after notice and any right to cure required by applicable law, we have the right to cancel the Mechanical Breakdown Coverage and take any action permitted by law to collect what you owe. Upon cancellation, you agree that we may collect and receive any refunds or proceeds with respect to the Mechanical Breakdown Coverage. We will apply those refunds and proceeds to your outstanding obligations under this Agreement. If there is a surplus in excess of $1.00, you are entitled to the surplus. Except where prohibited by applicable law, you hereby release and discharge us from any liability for damages with respect to cancellation of the Mechanical Breakdown Coverage due to default and you shall indemnify and hold us harmless from any liabilities, claims, damages or causes of action for any action taken as a result of your default under this Agreement. Our failure to require strict performance of any provision in this Agreement or to exercise any of our rights under this Agreement will not waive or relinquish any future right under this Agreement.

**If required by applicable law, we will only consider the failure to comply with other provisions of this Agreement an event of default if our prospect of payment, performance, or realization of collateral is significantly impaired. Where required, we bear the burden of establishing significant impairment.

power of attorney

In the event you default under the terms of this Agreement, and if allowed by applicable law, you hereby irrevocably appoint us as your true and lawful attorney-in-fact with respect to the Mechanical Breakdown Coverage until all amounts payable hereunder are paid in full. If allowed by applicable law, you agree that we will have full power under this power of attorney to (i) cancel or reinstate the Mechanical Breakdown Coverage, (ii) endorse or execute, in your name, all checks issued and all other documents or instruments relating to the Mechanical Breakdown Coverage, (iii) receive, demand, collect or sue for any amounts relating to the Mechanical Breakdown Coverage due and owing to us by the Insurer, or other obligor and (iv) take such other actions as are necessary to further the purposes of this Agreement.

acceptance, ratification, accuracy

This Agreement shall be effective when signed by you and us, or where applicable, upon the first of the following events to occur after we mail you a copy of the Agreement (1) you sign and transmit to us a copy of the signed Agreement, in wet ink or electronically, or (2) you make your first payment. Either signature or payment according to the terms of the Agreement ratifies and makes effective your and our obligations under the Agreement. You may not modify the preprinted terms of this Agreement.

servicing and collection contacts

By providing your wireless (cell) telephone number, you expressly consent to receiving telephone calls from us, and any assignee of this Agreement, concerning your Agreement, including calls to collect what you owe. Live calls may be made by one of our employees. Calls may also be made by a prerecorded, autodialed voice or text message as applicable law allows. Your consent covers all types of calls. We do not charge you for such calls. Your wireless carrier will charge you for our incoming calls and text messages according to your plan.

entire agreement

This Agreement constitutes the entire agreement between you and us. It supersedes any other written or oral agreement between the parties, and, except as otherwise set forth herein, may be modified only in writing signed by us. No oral changes to the terms of this Agreement are binding on you or us.

remedies, governing laws, waivers

This Agreement is governed and construed in accordance with federal law and the laws of the state of your residence as provided on the first page of this Agreement. Each provision in this Agreement will be interpreted so as to be effective and valid under applicable law. This Agreement includes an arbitration provision. By signing or ratifying this Agreement, you agree to be bound by the terms of the arbitration provision.

miscellaneous

The content and format of this Agreement has been adopted to provide you with important information in a clear and familiar form and its use does not imply that any particular federal or state law relating to lending or installment sales applies to this Agreement or transactions it contemplates. You expressly acknowledge and understand that the purchase of Mechanical Breakdown Coverage is not required either to purchase or obtain financing for a vehicle. Time is of the essence in this Agreement.

For purchases primarily for personal, family or household use, the following disclosures applies.

NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER.

ARBITRATION PROVISION: This Arbitration Provision significantly affects your rights in any dispute with us. Please read this Arbitration Provision carefully before you sign or ratify the Agreement.

EITHER YOU OR WE MAY CHOOSE TO HAVE ANY DISPUTE BETWEEN US DECIDED BY ARBITRATION AND NOT IN COURT. IF A DISPUTE IS ARBITRATED, YOU AND WE WILL EACH GIVE UP CERTAIN RIGHTS THAT MAY BE AVAILABLE IN COURT, INCLUDING OUR RIGHT TO A TRIAL BY JURY. IF A DISPUTE IS ARBITRATED, YOU WILL GIVE UP YOUR RIGHT TO PARTICIPATE AS A CLASS REPRESENTATIVE OR CLASS MEMBER ON ANY CLASS CLAIM YOU MAY HAVE AGAINST US.

Any claim or dispute, whether in contract, tort or otherwise (including the interpretation and scope of this clause and the arbitrability of any issue), between you and us or our employees, agents, successors or assigns, which arises out of or relates in any manner to this Agreement or any resulting relationship (including any such relationship with third parties who do not sign this Agreement, such as an assignee of the Agreement) shall, at your or our election (or the election of any such third party), be resolved by neutral, binding arbitration and not by a court action. Any claim or dispute is to be arbitrated on an individual basis and not as a class action. You expressly waive any right you may have to arbitrate a class action. This is called the “class action waiver.”

You may choose the applicable rules of either the American Arbitration Association (“AAA”) or another arbitration organization, subject to our approval. You may obtain a copy of the rules of the AAA by visiting its web site (www.adr.org). We waive the right to require you to arbitrate an individual claim if the amount you seek to recover qualifies as a small claim under applicable law.

This Arbitration Provision relates to an agreement that evidences a transaction involving interstate commerce. Any arbitration under this Arbitration Provision shall be governed by the Federal Arbitration Act (9 U.S.C. § 1 et seq.).

The arbitrators shall be attorneys or retired judges and shall be selected in accordance with the applicable rules of the chosen arbitration organization. The arbitrator shall apply substantive governing law and the applicable statute of limitations. The arbitration award shall be in writing. The arbitration hearing shall be conducted in the federal district in which you live, or such other place convenient to you as required by the rules of the chosen arbitration organization. If you demand arbitration first, you will pay the filing fee if the chosen arbitration organization requires it. We will advance and/or pay any other fees and costs required by the rules of the chosen arbitration organization.

The arbitrator’s award shall be final and binding on all parties. There shall be a limited right to appeal to the extent allowed by the Federal Arbitration Act. The amount we pay may be reimbursed in whole or in part by decision of the arbitrator if the arbitrator finds that any of your claims is frivolous.

If any part of this Arbitration Provision other than the Class Action Waiver is found by a court or arbitrator to be unenforceable, the remainder shall be enforceable. If the Class Action Waiver is found by a court or arbitrator to be unenforceable, the remainder of this Arbitration Provision shall be unenforceable. This Arbitration Provision shall survive the termination of any contractual agreement between you and us, whether by default or repayment in full.

state law disclosures

OHIO. If you reside in Ohio, the following disclosures applies: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

NOTICE TO BUYER: (1) DO NOT SIGN THIS AGREEMENT BEFORE YOU READ IT OR IF IT CONTAINS ANY BLANK SPACES. (2) YOU ARE ENTITLED TO AN EXACT COPY OF THIS AGREEMENT. (3) YOU HAVE THE RIGHT TO CANCEL THE MECHANICAL BREAKDOWN COVERAGE AT ANY TIME AND MAKE NO FURTHER PAYMENTS. (4) YOU HAVE THE RIGHT TO PAY IN ADVANCE THE FULL AMOUNT DUE WITHOUT PENALTY. (5) KEEP THIS AGREEMENT TO PROTECT YOUR LEGAL RIGHTS.

BY SIGNING BELOW OR BY MAKING YOUR FIRST PAYMENT AFTER YOU HAVE RECEIVED A MAILED OR ELECTRONIC COPY OF THIS AGREEMENT, YOU ACKNOWLEDGE RECEIPT OF A COMPLETED COPY OF THIS AGREEMENT. YOU ACKNOWLEDGE THAT YOU HAVE READ THIS AGREEMENT, INCLUDING THE ARBITRATION PROVISION ABOVE, AND YOU AGREE TO BE BOUND BY THE TERMS OF THIS AGREEMENT.

Buyer

 

 

X

Signature   Date

Seller

 

 

By X

Signature   Date

In accordance with the terms and conditions of the agreement between Olive and PayLink Direct, Olive hereby assigns its right, title, and interest in this Agreement to PayLink Direct.