RAL Eligibility Clause Samples
The RAL Eligibility clause defines the criteria that must be met for a party to qualify for a Refund Anticipation Loan (RAL). Typically, this clause outlines specific requirements such as filing a tax return through an approved provider, meeting minimum refund thresholds, or passing certain credit checks. By clearly stating who is eligible for a RAL, the clause ensures that only qualified applicants can access these loans, thereby reducing the risk of default and streamlining the application process for both lenders and borrowers.
RAL Eligibility. The parties agree that only those ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Tax Service customers that apply for a Financial Product from Republic (“Applicants”) whose federal income tax returns are filed electronically and such return sets forth an anticipated federal income tax refund shall be eligible to receive a RAL. An Applicant who meets the foregoing requirements shall nevertheless be subject to underwriting criteria developed by Republic.
RAL Eligibility. The parties agree that only those ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Tax Service customers that apply for a Financial Product from SBBT (“Applicants”) whose federal income tax returns are filed electronically and such return sets forth an anticipated federal income tax refund shall be eligible to receive a RAL. An Applicant who meets the foregoing requirements shall nevertheless be subject to underwriting criteria developed by SBBT, after consultation with JHI, pursuant to Section 7.5. Notwithstanding the foregoing, if SBBT receives current information from a reliable credit reporting agency or other reliable source that an Applicant’s income tax refund may be subject to attachment, delay or offset, then SBBT may deny such Applicant a RAL.
RAL Eligibility. The parties agree that only those Customers whose federal income tax returns are filed electronically and who are entitled to a federal income tax refund shall be eligible to receive a RAL. A Customer who meets the foregoing requirements shall nevertheless be subject to underwriting criteria developed by SBBT, after consultation with JHI, pursuant to Section 7.5. Notwithstanding the foregoing, if SBBT receives current information from a reliable credit reporting agency or other reliable source that a Customer’s income tax refund may be subject to attachment, delay or offset, then SBBT may deny such Customer a RAL.