Dealer Agreement 1010
Entire Contract
The statement above and the following agreement constitute the full and entire understanding and Agreement between the parties. Except as
expressly provided in this agreement, no amendment, supplement, or modification of this Agreement nor any waiver of any provision thereof
shall be made except in writing executed by both parties to this Agreement.
THIS AGREEMENT is entered into by and between, Sterling Financial Management located at 518 E. Barbour Street, Eufaula, AL 36027,
hereinafter referred to as COMPANYand the DEALER shown in the above schedule hereinafter referred to as “DEALER.” WHEREAS,
DEALER desires to market the Sterling Service Contract Buy Back/Refund Program, hereinafter referred to as the PROGRAM, and
WHEREAS, The COMPANY is willing to authorize DEALER to market the PROGRAM on the terms and conditions hereunder; NOW,
THEREFORE, in consideration of the mutual covenants set forth herein, the parties hereby agree as follows:
I. DEALER’s Rights and Obligations
a. DEALER intends to offer the DEALER’s customers a Vehicle Service Contract Buy Back/Refund Program on the extended vehicle
service contracts sold by DEALER and engages COMPANY to administer such programs pursuant to the terms of this Agreement
including the net rates, terms, conditions, exclusions and coverage stated on the Service Contract Buy Back/Refund Agreement.
b. Subject to all applicable laws, where DEALER is named as lessor, selling dealer, or the financing entity, DEALER may offer to its
customers Service Contract Buy Back/Refund Programs, hereinafter referred to as “PROGRAM”. DEALER shall enter into such
PROGRAMS when the collateral is originally purchased or leased and only on forms supplied by
shall be entered into only on eligible collateral.
Sterling Representative’s Name:
Rep. Acct. Number:
Dealer Name: Dealer Acct. Number:
City: State: ZIP Code:
Phone: Fax:
Contact Name: Title:
Name of VSC provider(s):
Number of VSCs sold per month:
It is understood that the presentation of the Sterling program by its representative was not a solicitation of insurance and that
the representative of the Dealer
signing this document so acknowledges that and also that the sale of the Sterling VSC Buy
Back/Refund is not an insurance transaction.
I have read and understand the eligibility requirements, including terms and coverages of this VSC program and agree to
market the program within those guidelines.
IN WITNESS WHEREOF, the parties have duly executed and made this Agreement effective as of this ______ day of
_________________ 20______.
By: By:
Title: Title:
Date: Date:_______________________________________
Dealer Agreement
VSC Buy Back Refund Program
Dealer Agreement 1010
d. Within ten (10) days after the end of each calendar month, DEALER shall submit to COMPANY a copy of each PROGRAM entered
into during the month including the appropriate remittance for each reported. All checks will be made payable to the COMPANY
e. DEALER shall not at any time be authorized to alter, supplement, modify, or waive any terms or conditions of PROGRAMS issued by
f. DEALER is an independent contractor, and no relationship of principal and agent, employer and employee, partnership, joint venture,
or the like shall be created between COMPANY and DEALER. DEALER shall be solely responsible for all expense incurred in
performing the terms of the Agreement.
g. In the event that any amount of money becomes due or repayable as the result of cancellation for any reason, DEALER agrees to return
the full or pro-rata portion of any amount(s) received or retained by such DEALER, whether prior to or subsequent to the termination of
this Agreement.
II. Reversionary Provision
If the DEALER is, for any reason, unable to discharge the obligation created by the terms and conditions of the Buy Back/ Refund
Agreement, the DEALER hereby assigns those obligations to the administrator and the administrator’s insurance company.
III. Company’s Rights and Obligations
a. The COMPANY will maintain and provide the DEALER all administrative services for the PROGRAM including verification and
services reimbursement.
b. The COMPANY will provide the DEALER all printed materials necessary for the DEALER to implement the program. All such
materials shall remain the property of the COMPANY and shall be returned by the DEALER in the event of the termination of this
IV. Claims
The COMPANY agrees to accept, investigate and process requests for benefits related to the program and submit such requests to the
insurance underwriter for payment. Such requests must be accompanied by the documents outlined in published claims procedures and are
subject to A & B below.
The DEALER further agrees:
a. Not to induce and/or convince service contract purchaser to not use their service contract with the intent of receiving the benefits of the
Buy Back/ Refund Agreement described in this Agreement.
b. Not to establish any customer records of any kind for the purpose of assisting the customer in making a Buy Back/ Refund Claim. It is
specifically understood and agreed that making a request for benefits in connection with the Buy Back/ Refund program is the exclusive
responsibility of the Customer.
c. In the event DEALER is found to be in violation of these provisions, COMPANY will be under no obligation to honor a request for
benefits on any Agreements issued.
V. Insurance
The DEALER hereby requests and acknowledges and the COMPANY hereby agrees to secure from a qualified insurance carrier contractual
liability insurance to protect the COMPANY, the DEALER and the DEALER’S Assignees against any liabilities created from the sale of
the program and adjustment costs related thereto. The COMPANY will provide evidence of such insurance to the DEALER upon request.
VI. Notices
Any notices shall be in writing and mailed by registered or certified mail (return receipt requested and postage prepaid), or sent by prepaid
overnight courier service, and addressed to the respective parties at the addresses set forth within, or to such changed addresses as may be
specified by written notice as provided herein. Any notice periods set forth in this Agreement may be waived, amended, or modified by the
written consent of both parties.
This Agreement may be terminated at any time by either party by thirty (30) days written notice to the other. However, the COMPANY may
terminate the Agreement immediately if the DEALER violates any applicable laws or fails to fulfill any of its obligations hereunder.
Termination shall not affect rights or duties of either party with respect to contracts properly issued and paid for, prior to the effective date of
such termination.
VIII. Governing
This Agreement shall be governed by and construed in accordance with the laws of the State of Florida without regard to any otherwise
applicable principles or conflict of laws.
IX. Legal Interpretation
If any term, covenant, or condition of this Agreement, shall be found by a court of competent jurisdiction to be, to any extent invalid or
unenforceable under any law, rule, or regulation, the remainder of the Agreement shall not be affected thereby, and each term, covenant, or
condition shall be valid and enforced to the fullest extent permitted by law. Upon determination that any such term is invalid, illegal, or
unenforceable, the parties hereto shall seek in good faith to amend this Agreement so as to affect the original intent of the parties as closely as
possible in an acceptable manner.