EXHIBIT 8.1.1
WESTERN UNION(R) SWIFTPAY(R) SERVICE APPLICATION AND AGREEMENT
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1. LEGAL NAME OF ENTITY: Contact (person signing contract):
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▇▇▇▇▇▇ Beaumont Inc. ▇▇▇▇ ▇▇▇▇▇▇
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DBA: Title:
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President
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Address: Floor/Suite:
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▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇
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City: State: Zip Code:
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▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇
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TELEPHONE: Fax:
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▇▇▇-▇▇▇-▇▇▇▇ ▇▇▇-▇▇▇-▇▇▇▇
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3. SIC CODE: Company Website URL:
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▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇
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4. TAX ID NUMBER (TIN): Type of Entity: (Circle one or fill in)
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xx-xxxxxxx Corporation
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5. TYPE OF BUSINESS:
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Stored Value
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6. CLIENT'S BANK: Routing and Transit Number (FRABA):
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xxxxxxx xxxxxxxx xxxxxxx xxxxxxxxx
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Address: Account No.:
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xxxx xxxxx xxx xxxxxxxxxxx
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City: State: Zip Code:
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xxxxx xxxxxxxxxx AL xxxxx
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7. CLIENT'S MINIMUM MONTHLY SWIFTPAY TRANSACTION VOLUME: Existing Customer Base Potential Customer Base
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[X] 500-999 [ ] 1,000-2,500 [ ] 2,500-5,000 [ ] 5,000 plus
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Client must provide us with a written description of its compliance program
relating to the prepaid card program, most recent Annual Report together with
the signed Agreement, including the Terms and Conditions, and the completed
Credit Application attached hereto for Western Union review. Client agrees to
provide to Western Union updated compliance program description, financial
statements and other Credit Application information throughout the term of this
Agreement and upon request.
CLIENT: ▇▇▇▇▇▇ BEAUMONT, INC. WESTERN UNION FINANCIAL SERVICES, INC.
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇ By: /s/ ▇. ▇▇▇▇▇▇
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Title: President Title: Credit Analyst
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Date: March 16, 2005 Date: 6/20/2005
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1
TERMS AND CONDITIONS
Client and Western Union agree as follows:
1. Western Union agrees to receive payments from customers (Customers) of Client
and send such payments to Client as specified herein. In order to make a
SWIFTPAY payment to Client, Customers shall go to a participating Western Union
agent location, provide Western Union with their card and pay to Western Union
cash equal to the amount to be sent to Client, plus Western Union's standard fee
of $4.95. If Client elects to pay all or a portion of the fee, Western Union
shall retain such fee from any transmittal of the principal amount to Client.
Client agrees to a minimum monthly volume commitment of 500 SWIFTPAY
transactions to be achieved within twelve months of Clients first transaction
and 1,500 transactions to be achieved in each succeeding month thereafter
throughout the term of this agreement. If Client's customers fail to send the
required transactions in any given month, Client shall remit to Western Union an
amount equal to the required minimum volume of transactions minus the actual
transaction volume in such month, with the difference multiplied by $4.95. Such
payment shall be remitted to Western Union by the 15th of the following month.
2. Client agrees to market the SWIFTPAY program to its Customers in accordance
with the distribution and marketing plans attached hereto as Exhibit A. Client
agrees not to make any changes in the program except with Western Union's prior
written approval.
3. Client agrees to grant Western Union access to the names, addresses,
telephone numbers and account numbers of customers (and other identification
information requirements as Western Union may reasonably require from time to
time) who are eligible to load value to Clients card program, such access to be
made available by Transmission Control Protocol/Internet Protocol (TCP/IP)
messaging to and from the Client's host. Such data access shall be in the form
and content specified by Western Union as outlined in the STORED VALUE CARD
EXTERNAL HOST INTERFACE document. The name and account number for each Customer
in the data messaging shall correctly correspond to the card number assigned to
such Customer. If any errors exist in the data message, Client shall be
responsible for any losses arising therefrom, including any damages and expenses
incurred by Western Union as a result thereof.
a. Western Union will deliver SWIFTPAY payment transactions to its
secure web site in a downloadable data file. Client will be provided with access
to such web site to download the payment data file and to review the payments
received. Costs of standard programming are included in the service. Client
shall reimburse Western Union for costs incurred to meet any custom programming
requirements of Client upon a mutual agreement.
b. Western Union will deliver SWIFTPAY payments to Client on the third
business day after the day of the transaction by initiating an Automated
Clearing House (ACH) credit to the bank account designated by Client above (For
example, for a payment made on Sunday, Western Union will initiate a
corresponding ACH credit on Wednesday, and, for a payment made on Monday,
Western Union will initiate a corresponding ACH credit on Thursday.), provided
that, prior to the receipt of any SWIFTPAY payments from Western Union, such
bank or any successor or additional bank(s), as appropriate, shall have executed
and delivered to Western Union a Client-Bank Agreement in the form of Exhibit C.
The above-identified bank and any successor or additional banks are referred to
herein as the "Bank."
4. Western Union shall provide training of Client's personnel in the receiving
and handling of SWIFTPAY transactions. Client and Western Union shall work
together to develop an appropriate training program.
5. Client shall be responsible for promptly and diligently responding to and
resolving inquiries and complaints from Customers relating to Client's Cards and
shall promptly refer all inquiries and complaints concerning the SwiftPay
service to Western Union. Western Union shall be responsible for promptly and
diligently responding to and resolving inquiries and complaints from Customers
arising out of the SWIFTPAY service and shall promptly refer all inquiries and
complaints concerning the Cards to Client. The parties will cooperate with each
other to resolve Customer service inquiries, to the extent necessary, with each
party to bear its own costs.
6. Client shall credit each Customer's SWIFTPAY payment on its books promptly
(and in no event later than the next business day) after such payment is posted
on Western Union's web site. Client may not cancel or refuse a SWIFTPAY payment
sent by Western Union on behalf of a Customer.
7. Western Union agrees to keep the names of Customers confidential and to make
no disclosure thereof to any third party, except as necessary to process
SWIFTPAY transactions or as required by law, regulation or order. Client agrees
that it shall not either directly or indirectly disclose, disseminate or
otherwise make available to any third party any information concerning the terms
of this Agreement, any related policies, procedures, systems or processes of
Western Union, any information concerning Western Union's SWIFTPAY agent network
or any information regarding the Client's transaction volume, except as required
by law.
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8. Client shall comply (and shall cause its employees, agents, and
subcontractors to comply) with all laws, orders, rules and regulations
applicable to Client's business, including but not limited to, all federal and
state consumer protection laws. Client agrees to indemnify Western Union and
hold it harmless from any and all claims, losses, damages, liabilities or
expenses (including attorneys' fees) of every nature and kind incurred as a
result of Client's failure or alleged failure to comply with applicable laws,
orders, rules and regulations. Any act or omission in breach of any such law,
order, rule or regulation shall constitute a material breach of this Agreement.
9. Client will indemnify Western Union and hold it harmless from any and all
claims, losses, damages, liabilities or expenses (including attorneys' fees) of
every nature and kind arising from Client's breach of this Agreement, from
Client's breach of the Client-Bank Agreement, or from the product or service
provided by Client to a Customer, regardless of the presence or absence of
negligence or criminal conduct. Western Union's sole responsibility for damages
for error, delay, or nonpayment, whether or not caused by negligence (apart from
Western Union's responsibility to assure payment of the principal amount
accepted from Customer), shall be limited to a refund of the service fee paid in
connection with the affected transaction, and Western Union shall have no
liability therefor to Client, and Western Union's aggregate liability to Client
for any other reasons shall be limited to $10,000. Under no circumstances will
Western Union be liable to Client or Customers for indirect, incidental,
special, or consequential damages, whether or not either party knew or had
reason to know that they might be incurred.
10. In case of any overpayment by Western Union to Client, for any reason,
Client agrees to promptly, upon request, refund the overpayment to Western
Union. Client also agrees to promptly, upon request, reimburse Western Union for
any duplicate payments, any payments refunded to Customers by Western Union or
any incorrect payments. Western Union, at it s option, may deduct any such
payment from future payment amounts transmitted by Western Union to Client
hereunder and promptly advise Client of any such deductions.
11. The initial term (Initial Term) of this Agreement shall continue for a
period of xxxx (x) years from the start of service date in accordance with
Exhibit B. Unless terminated at the end of the Initial Term or any renewal term
by written notice given at least thirty (30) days prior thereto by either party
to the other, this Agreement shall automatically renew for successive additional
one (1) year renewal terms. This Agreement may be terminated after notice by
Western Union (i) if any information in Client's Credit Application or otherwise
in connection with this Agreement is inaccurate, incomplete or misleading, (ii)
if Client shall not have cured a breach of the Agreement, (iii) if Client has
violated a Western Union compliance policy, (iv) if the Client-Bank Agreement
terminates and is not immediately replaced with a substantially similar
Agreement, or (v) for its convenience at any time upon at least thirty (30) days
notice. In the event Western Union believes, in its sole discretion, Client may
be in violation of any law, rule or regulation, or any Western Union compliance
policy, Western Union may immediately suspend the services under this Agreement
until such time as the violation is cured. This Agreement may be terminated by
Client if Western Union shall not have cured a breach of the Agreement within
(30) days after written notice of such breach.
12. It is expressly agreed that the parties hereto are acting hereunder as
independent contractors and not as joint venturers, partners, employer-employee,
principal-agent or other similar business arrangement. This Agreement shall not
be construed as authority for either party to act for the other party in any
agency or other similar capacity.
13. This Agreement, the Credit Application, the Client-Bank Agreement(s), and
any exhibits or Addenda attached hereto, represent the entire agreement of the
parties with respect to the subject matter hereof, and may be modified only in
writing signed by duly authorized representatives of the parties to be bound
thereby. The construction, interpretation and performance of this Agreement, as
well as any case or controversy arising out of the parties' relationship that is
related to or contemplated by this Agreement, shall be governed and construed in
accordance with the domestic laws of the State of New York without regard to its
conflict of law provision. Client may not assign or otherwise transfer its
rights and obligations pursuant to this Agreement without Western Union's prior
written consent.
14. Additional Client Obligations. Client represents, warrants and covenants
throughout the term of this Agreement as follows:
a. Client's stored value cards and related products and services have
received all necessary approvals of all relevant card associations, payment
networks and similar organizations (collectively, the "Associations");
b. That, to the best of Client's knowledge, the Bank is in good
standing with applicable regulatory authorities and with the Associations;
c. This Agreement does not conflict with any rules or regulations of,
or any agreements that Client has entered into with Customers, the Bank or the
Associations;
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d. Client and the Bank will use commercially reasonable efforts to
comply with all relevant laws and the rules or regulations of all Associations;
e. Client and the Bank will properly credit all SWIFTPAY payments to
the Bank account designated in this Agreement, and will apply Customer's funds
and settle stored value card transactions of Customers in accordance with this
Agreement, the Client-Bank Agreement and the cardholder agreement among the
Customer, the Bank and Client;
f. Client and Bank shall not permit Customers to transfer funds from
one card or card account to another card or card account, or from one Customer
to another Customer;.
g. Only a single stored value card will be issued to a Customer and
only that Customer will be permitted to use or transact with such stored value
card;
h. Client and the Bank will require that the Customer be identified in
connection with each SWIFTPAY transaction in accordance with Western Union's
compliance requirements and Client will require Customers to present their
stored value card to the Western Union agent in order to load value to such
stored value card using the SWIFTPAY service;
i. Client will not specifically target Western Union agents or agent
locations to market, promote, distribute, sell or resell any stored value card
products.
j. Client agrees that the SWIFTPAY and Western Union name or logo shall
not appear on Client's stored value card products unless preapproved in writing
by Western Union, and shall only be used for marketing, sale, distribution or
use of such Client products consistent with the terms of this Agreement;
k. Client and Bank shall not permit the use of or loading of value to a
stored value card by Customer, from any source, except as follows:
i) The stored value cards shall be subject to a load limit of
$950 (inclusive of all fees and charges) per value load per
day, an aggregate load limit of $2,500 (inclusive of all fees
and charges), and the first to occur in any given month of (A)
aggregate load value of $9,500 or (B) 10 Prepaid Services load
transactions;
Customers may load value to their stored value cards only by (1) ACH
(or direct deposit initiated by Customer) from a bank account in a US bank to
the designated account at the Bank; (2) money order payment to the designated
account at the Bank; (3) Prepaid Services transfer to the designated account at
the Bank; or (4) or money transfer by a licensed money transmitter to the
designated account at the Bank. If Client would like to permit the loading of
value to a stored value card by a means other than those set forth in this
Section, Client may submit a written request to Western Union that such means be
added to this list. Western Union may agree or disagree with such a request at
its sole discretion. If Western Union agrees to Client's request, this Agreement
must be amended in writing before Client may permit Customers to load value to a
stored value card through such means.
i) Client has implemented, and shall maintain throughout the
duration of this agreement, an anti-money laundering program as required by 31
USC 5318(h)(1) and a customer identification program meeting the requirements of
31 CFR 103.121(b)(1) ET SEQ. Upon request, Client shall provide documents and
information requested by Western Union demonstrating Client's compliance with
the referenced laws and regulations. Additionally, Client shall cooperate with,
and provide reasonable access during normal business hours to, Western Union for
the purpose of reviewing Client's anti-money laundering program.
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EXHIBIT A
DISTRIBUTION AND MARKETING PLANS
Client agrees to engage in the following promotional activities:
1. Existing Customers of Client. Within thirty (30) days of the Effective date
of the agreement, Client shall provide notice to all cash paying (including
money orders) or high-risk customers describing the addition of the SwiftPay
service to the existing value load solutions. The notice may include a
description of the SwiftPay service, the Cardholder Agreement and any other
promotional materials as deemed necessary by Western Union or Client.
2. New Customers of Client. During the enrollment of a new customer, Client
shall provide notice to each new customer promoting the SwiftPay service as one
option for loading value to the pre-paid card product. The notice may include a
description of the SwiftPay service, the Cardholder Agreement and any other
promotional materials as deemed necessary by Western Union or Client.
3. On-Going Promotions. Client shall promote the SwiftPay service, in addition
to all other value load solutions, to its Customers via Western Union-approved
references on Client's web site and in Customer's email communications with its
Customers. Such promotions shall be continuously on going throughout the term
hereof. Prior to the start-of-service date, Client shall submit a marketing plan
for Western Union's approval.
4. Western Union Approval. Client acknowledges and agrees that all materials
representing, promoting or referring to Western Union or the SwiftPay service
shall be not be utilized or distributed until approved in writing by Western
Union in its sole discretion.
Pursuant to paragraph 2(a) of the Terms and Conditions, Client agrees to engage
in the following promotional activities: [INDICATE MARKETING INTIATIVES BELOW]
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Marketing Initiatives
▇▇▇▇▇▇ Beaumont will provide the following marketing efforts to notify our
customers of the relationship with Western Union.
1. ▇▇▇▇▇▇ Beaumont will provide information to all cardholders or
the strategic relationship with Western Union, whereby all
Western Union locations will be able to accept value loads for
their card.
2. ▇▇▇▇▇▇ Beaumont will provide information to appropriate
personnel at Western Union to enable the customer service
personnel to quickly and accurately answer any questions from
Western Union store locations regarding FAQ's about ▇▇▇▇▇▇
value load process.
3. Provide appropriate identifying information to Western Union
personnel for any store wishing to display the SIRE Network
logo to allow the store wishing to capture additional foot
traffic by taking advantage of Morgans marketing efforts.
4. Prominent mention of the Western Union Preferred Partner
status in all communications with ▇▇▇▇▇▇ Beaumont cardholders.
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EXHIBIT B
CONFIGURATION AND IMPLEMENTATION
This information is required for proper implementation. Please answer all questions prior to submission as delays will negatively
impact the time to implement. All information in this Agreement may be verified by Western Union.
PLEASE RESPOND IN ALL WHITE BOXES.
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1. WHAT TYPE OF CARD WILL BE USED: Will you produce your own cards? (Does not refer to Standard card)
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Visa and MasterCard Debit Yes
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2. PAYMENT SPLIT: (must add to $6.00). ALL CLIENT PORTIONS WILL BE NETTED FROM THE DAILY SETTLEMENT AMOUNT
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Consumer Portion: $ Client Portion:
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3. PAYMENT AMOUNTS (TO NEAREST $1)
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Min (Std $1): $ Max (Std $200): $
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4. DATA TRANSMISSION/COMMUNICATION: (CIRCLE ONE) If FTP, Please enter your Primary and Secondary FTP Addresses
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FTP Dial Up (TO WU SERVER) Web Site
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5. HOW DO YOU MANAGE YOUR CLIENT RECORDS? (CHECK ONE):
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[ ] Ledger Book [ ] Spreadsheet [ ] Flat Database [x] Relational Database
Name/Ver: Name/Ver: Name/Ver: Oracle 10G
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[x] Relational Database with Programming [ ] Dedicated Customer [ ] Outsource to a Third
Name/Ver: Oracle 10G Management System Party
Name/Ver: Name:
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WHAT BILLING SYSTEM/METHOD DO YOU USE? (CHECK ONE):
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[ ] Ledger Book [ ] Spreadsheet [ ] Flat Database [x] Relational Database
Name/Ver: Name/Ver: Name/Ver: Oracle 10G
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[x] Relational Database with Programming [ ] Dedicated Customer [ ] Outsource to a Third
Name/Ver: Oracle 10G Management System Party
Name/Ver: Name:
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DO YOU HAVE AN IN-HOUSE PROGRAMMER? YES HAVE YOU IDENTIFIED PROGRAMMING N/A
RESOURCES/COMPANIES TO ASSIST YOU?
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DO YOU REQUIRE ADDITIONAL TECHNICAL HELP IN IMPLEMENTING? NO
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6. TRANSMISSIONS:
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HOW OFTEN WILL YOU UPLOAD CUSTOMER FILES?: HOW OFTEN WILL YOU RETRIEVE PAYMENT FILES?
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Every 15 minutes X Every 30minutes Every 15 minutes X Every 30minutes
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Every Hour [ ] Times Daily Every Hour [ ] Times Daily
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7. CURRENT QUICK COLLECT CLIENT: Will SWIFTPAY be the Primary Method of taking Payments? If
not, explain.
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No No Proprietary value load solution
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OFFICE USE ONLY: If current Quick Collect Client = YES
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Code City: Account Number:
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IMPORTANT NOTE: THIS CANNOT EQUAL THE SWIFTPAY DBA NAME FOR
THE CLIENT. IF THE NAMES ARE THE SAME, THE QC "PAY TO" NAME
QC "PAY TO" NAME: MUST BE CHANGED.
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7
EXHIBIT B
CONFIGURATION AND IMPLEMENTATION
Continued
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8. CONTACTS:
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EXECUTIVE MGMT. CONTACT: E-Mail Address:
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Street Address: Floor/Suite:
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▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ 102
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City: State: Zip Code:
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▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇
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Telephone: Fax:
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TECHNICAL CONTACT: E-Mail Address:
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Street Address Floor/Suite:
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▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ 102
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City: State: Zip Code:
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▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇
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Telephone: Fax:
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CASH MANAGEMENT/ACCOUNTING/OPERATIONS CONTACT: E-Mail Address:
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Street Address: Floor/Suite:
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▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ 102
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City: State: Zip Code:
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▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇
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Telephone: Fax:
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CUSTOMER SERVICE CONTACT: E-Mail Address:
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Street Address: Floor/Suite:
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▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ 102
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City: State: Zip Code:
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▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇
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Telephone: Fax:
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9. INITIAL MARKETS AND TARGET DATES:
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DESIGNATED MARKET AREA (DMA): DATES: DESIGNATED MARKET AREA DATES:
(DMA):
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8
EXHIBIT C
WESTERN UNION (R) PREPAID SERVICES (SWIFTPAY(R)) CLIENT-BANK AGREEMENT
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This Client-Bank Agreement (Agreement) is entered into among Western
Union Financial Services, Inc. ("Western Union"), ▇▇▇▇▇▇ Beaumont, Inc.
("Client"), and First Gulf Bank, N.A., with a business address c/o Alabama
National BanCorporation, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
("Bank") pursuant to the Western Union Prepaid Services (also known as Western
Union SWIFTPAY) Agreement between Western Union and Client dated March 18, 2005
(the "Service Agreement").
A. Under the terms of the Service Agreement, Western Union will send value
load payments ("Load Payments") by customers ("Customers") holding
stored value cards ("Stored Value Cards") in connection with Client's
stored value card program ("Stored Value Program") and such amounts
will be sent via Automated Clearing House (ACH) transfers to the
account at the Bank for such purposes as designated below, and
B. The Service Agreement requires the execution of this Agreement among
the Client, Bank and Western Union with regard to the designated
account at the Bank and other obligations as set forth herein.
In consideration of the promises set forth herein, Client, Bank and Western
Union agree as follows:
1. Bank shall hold the Load Payments sent by Customers through Western Union to
Bank on behalf of Customers in the Bank account designated as follows:
[account Number]
[account Name]
[Bank Routing Number]
The Load Payments sent by Western Union to such account shall be held by the
Bank for the benefit of the Customers, and Bank shall be liable to each such
Customer for the total amount of Load Payments sent by Western Union and
received by Bank according to the terms and conditions of the cardholder
agreement with such Customer.
2. The Bank and Client agree to authorize and settle all Stored Value Card
transactions by Customers from the designated account at the Bank in
accordance with the terms and conditions of this Agreement, the Service
Agreement, and the cardholder agreement with each such Customer.
3. Bank represents, warrants and covenants throughout the term of this
Agreement as follows:
a) Client's stored value cards and related products and services
have received all necessary approvals of all relevant card
associations, payment networks and similar organizations
(collectively, the "Associations");
b) Bank is in good standing with applicable regulatory
authorities and with the Associations;
c) The Bank will use commercially reasonable efforts to comply
with all relevant laws and the rules or regulations of all
Associations;
d) Bank's Agreement with Client shall include a provision that
the Stored Value Program shall not permit Customers to
transfer funds from one card or card account to another card
or card account, or from one Customer to another Customer;
only a single stored value card will be issued and outstanding
at any given time to a Customer; the Bank's cardholder
agreement with Customers shall permit only that Customer to
use or transact with such stored value card,;
e) Bank's cardholder agreement shall include a provision that the
Customer agree to be identified in connection with each
Prepaid Services transaction in accordance with Western
Union's compliance requirements and that Customers present
identification and must present their stored value card to the
Western Union agent in order to load value to such stored
value card using the Prepaid Service; such language to be
provided by Western Union to Bank;
f) Bank `s Agreement with Client, shall include a provision to
not permit the use of or loading of value to a stored value
card by Customer, from any source, except as follows:
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i) The Stored Value Cards shall be subject to a load
limit of $950 (inclusive of all fees and charges) per
value load per day, an aggregate load limit of $2,500
(inclusive of all fees and charges), and the first to
occur in any given month of (A) aggregate load value
of $9,500 or (B) 10 Prepaid Services Load Payment
transactions;
ii) Customers may load value to their Stored Value Cards
only by (1) ACH (or direct deposit initiated by
Customer) from a bank account in a US bank to the
designated account at the Bank; (2) money order or
check payment to the designated account at the Bank;
(3) a Western Union Load Payment sent to the
designated account at the Bank; (4) or money transfer
by a licensed money transmitter to the designated
account at the Bank;
g) Bank's Agreement with Client shall include throughout the
duration of this agreement, an anti-money laundering program
as required by 31 USC 5318(h)(1) and a customer identification
program meeting the requirements of 31 CFR 103.121(b)(1) ET
SEQ.
4. Upon request, Client shall provide documents and information requested
by Western Union demonstrating Client's compliance with the referenced
laws and regulations. Additionally, Client shall cooperate with, and
provide reasonable access during normal business hours to, Western
Union for the purpose of reviewing Client's anti-money laundering
program.
5. Client may not cancel or refuse a Load Payment sent by Western Union
once it has been authorized by Client.
6. If Client receives a load transaction from Western Union that exceeds
the limits established in subsection 3(f) above, Client will provide,
or cause to be provided, to Western Union an error report itemizing the
transaction data, including card account number, the date, time and
amount of the transaction, and the limit that was exceeded. Client and
Western Union will work to determine the reason that the transaction
occurred and to develop a solution to prevent similar situations from
occurring. Client will establish procedures similar to those set forth
above to address load transactions from sources other than Western
Union which exceed the limits established above. Client may credit a
load transaction that exceeds the limits set forth above to the
Customer account; however, if repeated transactions in excess of the
limits occur with respect to a given account, it will suspend load
transactions to that account.
7. Bank shall not, directly or indirectly, disclose, disseminate or
otherwise make available to any third party, other than Client, any
information concerning the terms of this Agreement, any related
policies, procedures, systems or processes of Western Union, any
information concerning Western Union's Prepaid Services agent network
or any information regarding the transaction volume or Client's stored
value card program, except as required by law.
8. Bank shall comply with all laws, orders, rules and regulations
applicable to its business and Bank's stored value card program.
9. Except as otherwise limited in this Agreement, Bank, Client and Western
Union will indemnify each other and hold each other harmless from any
and all third party claims, losses, damages, liabilities or expenses
(including attorneys' fees) of every nature and kind incurred as a
result of the indemnifying party's (x) failure or alleged failure to
comply with applicable laws, orders, rules and regulations or (y)
material breach of any duty, representation or warranty under this
Agreement.
10. Western Union's maximum aggregate responsibility to any party under
this Agreement and the Service Agreement (apart from Western Union's
responsibility to assure transfer of the Load Payments accepted from
Customers) for direct damages incurred by such party shall not exceed
$250,000, except that Western Union's maximum aggregate liability under
Section 9 of this Agreement shall not exceed $1,000,000.
11. Client's maximum aggregate responsibility to any party under this
Agreement and the Service Agreement for direct damages incurred by such
party shall not exceed $1,000,000, except that Client's liability under
Section 9 of this Agreement and Section 9 of the Service Agreement
shall be unlimited.
10
12. Bank's maximum aggregate responsibility to any party under this
Agreement (apart from Bank's responsibility to assure application of
the Load Payments to Customers accounts) for direct damages incurred by
such party shall not exceed $250,000, except that Bank's maximum
aggregate liability under Sections 8 and 9 of this Agreement shall not
exceed $7,500,000.
13. Under no circumstances will either Bank or Western Union be liable to
the other or to Client (nor will Western Union be liable to Customers)
for indirect, incidental, special, exemplary, or consequential damages,
whether or not any such person or party knew or had reason to know that
they might be incurred.
14. This Agreement shall terminate upon the termination or expiration of
the Service Agreement.
15. It is expressly agreed that the parties hereto are acting hereunder as
independent contractors and not as joint venturers, partners,
employer-employee, principal-agent or other similar business
arrangement. This Agreement shall not be construed as authority for any
party to act for any other party in any agency or other similar
capacity.
16. This Agreement, together with the Service Agreement, and any exhibits
or Addenda attached thereto, represents the entire agreement of the
parties with respect to the subject matter hereof, and may be modified
only in writing signed by duly authorized representatives of the
parties to be bound thereby. This Agreement is made under, and shall be
construed in accordance with, the laws of the State of Colorado.
Neither Bank nor Client may assign or otherwise transfer its rights and
obligations pursuant to this Agreement without Western Union's prior
written consent.
17. Additional stored value card programs offered by Bank and Client with
their own BINs and approved by Western Union may be allowed to load
pursuant to this Agreement, upon execution of an addendum adding such
programs to this Agreement and to the Service Agreement.
FIRST GULF BANK, N.A. WESTERN UNION FINANCIAL SERVICES, INC.
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇ By: /s/ ▇. ▇▇▇▇▇▇
------------------- -------------------------------
Title: Exec. V.P. Title: Credit Analyst
------------------- -------------------------------
Date: 6/9/05 Date: 6/20/05
------------------- -------------------------------
▇▇▇▇▇▇ BEAUMONT, INC.
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇
-------------------
Title: President
-------------------
Date: 6/9/05
-------------------
11
EXHIBIT D
---------
Transaction Volume Rebate Schedule
TOTAL NUMBER OF COMPLETED SWIFTPAY AMOUNT PAYABLE
TRANSACTIONS PER CALENDAR MONTH PER TRANSACTION
From To
---- --
---------------------------------------------------------------
1 20,000 $x.xx
---------------------------------------------------------------
20,001 40,000 $x.xx
---------------------------------------------------------------
40,001 60,000 $x.xx
---------------------------------------------------------------
60,001 50,000 $x.xx
---------------------------------------------------------------
80,000 + $x.xx
---------------------------------------------------------------
▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇ COMMERCIAL SERVICES
CREDIT APPLICATION
WESTERN UNION IS SEEKING ANSWERS TO THE FOLLOWING QUESTIONS TO SATISFY ITS RESPONSIBILITIES UNDER ANTI-MONEY LAUNDERING LAWS AND
REGULATIONS.
Application Date: _________________________________
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GENERAL INFORMATION
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Corporate or Trade Name Legal Name
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DBA Name Tax ID#
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Business Address City State Zip
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Telephone # ( ) Fax # ( ) Email Address
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Type of Business
------------------------------------------------------------------------------------------------------------------------------------
Type of Organization [ ] Individual Proprietorship [ ] Partnership in the state of _______ [ ] Corporation in the state of ________
------------------------------------------------------------------------------------------------------------------------------------
Date Started / / Years at Present Address
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Bank Name Address
------------------------------------------------------------------------------------------------------------------------------------
Telephone # ( ) Account #
------------------------------------------------------------------------------------------------------------------------------------
BUSINESS PRINCIPALS (Required)
------------------------------------------------------------------------------------------------------------------------------------
President/Proprietor Social Security # DOB / /
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Home Address City State Zip
------------------------------------------------------------------------------------------------------------------------------------
Telephone # ( ) Email Address
------------------------------------------------------------------------------------------------------------------------------------
Marital Status [ ] Single [ ] Married [ ] Divorced [ ] Other _________________________
------------------------------------------------------------------------------------------------------------------------------------
Officer/Partner Social Security # DOB / /
------------------------------------------------------------------------------------------------------------------------------------
Home Address City State Zip
------------------------------------------------------------------------------------------------------------------------------------
Telephone # ( ) Email Address
------------------------------------------------------------------------------------------------------------------------------------
Marital Status [ ] Single [ ] Married [ ] Divorced [ ] Other _________________________
------------------------------------------------------------------------------------------------------------------------------------
The name of the Client's compliance officer and, if the Client is a money services business ("MSB") subject to registration (I.E., a
currency dealer or exchanger; check ▇▇▇▇▇▇; money transmitter; or issuer, seller or redeemer of money orders or traveler's checks,
unless the Client only offers these services as a Client for another company), attach a copy of its FinCEN registration.
------------------------------------------------------------------------------------------------------------------------------------
Name
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
If the Client's business name or principal business address has changed in the
last three (3) years, list the Client's previous business name(s) and
addresses.
------------------------------------------------------------------------------------------------------------------------------------
Previous Name
------------------------------------------------------------------------------------------------------------------------------------
Previous Address City State Zip
------------------------------------------------------------------------------------------------------------------------------------
Any significant changes in its services over the last three (3) years? Explain:
------------------------------------------------------------------------------------------------------------------------------------
13
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Has Business Ever Been Bankrupt Or Insolvent? [ ] Yes [ ] No
------------------------------------------------------------------------------------------------------------------------------------
If Yes, Give Date / / City State
------------------------------------------------------------------------------------------------------------------------------------
Has Bonding Ever Been Refused or Cancelled? [ ] Yes [ ] No
------------------------------------------------------------------------------------------------------------------------------------
If Yes, Give Date / / Name of Surety Company
------------------------------------------------------------------------------------------------------------------------------------
Give Names And Contact Information Of Three Trade References:
------------------------------------------------------------------------------------------------------------------------------------
Contact Name Telephone Number
------------------------------------------------------------------------------------------------------------------------------------
( )
------------------------------------------------------------------------------------------------------------------------------------
( )
------------------------------------------------------------------------------------------------------------------------------------
( )
------------------------------------------------------------------------------------------------------------------------------------
Has the Client or any officer, director, compliance officer, or owner (other
than a shareholder of a publicly-traded corporation) ever been charged or
convicted of any felony under state, federal or foreign law or any of the above
currently under investigation for any violation under state, federal or foreign
law? If so, please explain:
Has the Client or any owner of the client ever had a state-issued regulatory or
business license revoked? If so, please explain:
Has any state or federal authority ever brought a regulatory enforcement action
or is such an enforcement action currently pending against the Client,
including enforcement actions related to violations of the bank secrecy act or
other anti-money laundering statutes? If so, when, by which authority, what was
the nature of the violations, and what was the disposition?
Has any money transfer company, ▇▇▇▇ payment company or issuer of payment
instruments terminated its relationship with the Client? If so, which company
and why?
If the Client is a check ▇▇▇▇▇▇; currency dealer or exchanger; issuer, seller
or redeemer of stored value cards; seller, redeemer or issuer of money orders
or traveler's checks; a money transmitter or another financial institution
subject to the BANK SECRECY ACT, has it implemented an AML compliance program?
Does the Client accept, transmit, or payout funds for gaming purposes or to pay
gaming-related debt? If yes, please list the Client's gaming licenses.
14
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CLIENT BACKGROUND INFORMATION (Answer all questions)
-------------------------------------------------------------------------------
1. Has Client (i.e., the sole proprietorship, partnership, or corporation)
or any owner, officer, director or general partner of Client ever been
charged with or convicted of any felony under state, federal or foreign
law?
[ ] Yes [X] No (If Yes, attach explanation)
2. Has Client (i.e., the sole proprietorship, partnership, or corporation)
or any owner, officer, director or general partner of Client ever had a
prior business relationship with Western Union Financial Services,
Inc., Integrated Payment Systems Inc., or First Data Corporation or any
of its affiliates?
[ ] Yes [X] No (If Yes, attach explanation)
3. Has Client or any owner ever been bankrupt, refused borrowing, or are
there current outstanding liens or judgments or civil actions pending?
[ ] Yes [X] No (If Yes, attach explanation)
15
Additional Instructions:
>> Submit copies of client's year-end financial statements for the last
two years.
>> Client verifies that the information in this credit application and in
the accompanying financial statements is true, complete and correct.
Client agrees to update this information from time to time upon
request, or if ownnership changes. Client understands that western
union may use this information to obtain credit bureau reports,
information from trade references and information from other sources as
western union deems necessary or desirable.
>> Please read the following and sign below.
All statements contained in this application and in the financial statements and
other documentation submitted in support of this application are true and
correct. Permission and authorization is hereby granted to Western Union
Financial Services, Inc., Integrated Payment Systems Inc., First Data
Corporation and its and their affiliates and representatives (collectively
"WUFSI") as well as to prior employers, trade references, Dun & Bradstreet,
banks, consumer credit services, consumer reporting agencies and state and
federal government representatives, without regard to whether they are listed
herein, to verify, receive, exchange, and obtain business and/or personal credit
and other information including, without limitation criminal background checks,
as part of this application or at any time thereafter in connection with the
ongoing Client evaluation process, review of Money Transfer and Money Order
activity and/or collection of any obligation arising from the Money Transfer and
Money Order business relationship, including any related guaranties or any
services offered by WUFSI. The undersigned further agree that neither WUFSI nor
anyone who has furnished WUFSI any information concerning Client or the
undersigned owners and/or principals of Client shall be responsible for any
losses or damages Client or the undersigned owners or principals of Client may
claim as resulting from said verification, receipt, exchange, or obtaining
business and/or personal credit or other business and/or personal information.
WUFSI reserves the right in its sole and absolute discretion to reject Client's
application to become a WUFSI Client. Such rejection shall be without penalty of
any type or kind to WUFSI. Under penalty of perjury, the undersigned certify
that: (i) the federal taxpayer identification number shown on this application
as Client's Federal Tax ID Number is the correct taxpayer identification number
of Client (or Client is waiting for a number to be issued to Client), and (ii)
Client is not subject to backup withholding because either Client is exempt from
backup withholding, or Client has not been notified by the Internal Revenue
Service (IRS) that it is subject to backup withholding as a result of failure to
report all interest or dividends, or the IRS has notified Client that it is no
longer subject to backup withholding.
(ALL OWNERS AND PRINCIPALS MUST SIGN)
16
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SIGNATURE PRINTED NAME DATE
------------------------------------------------------------------------------------------------------------------------------------
ADDRESS CITY STATE ZIP
------------------------------------------------------------------------------------------------------------------------------------
SSN Marital Status [ ] Single [ ] Married [ ] Divorced [ ] Other ___________________
------------------------------------------------------------------------------------------------------------------------------------
SIGNATURE PRINTED NAME DATE
------------------------------------------------------------------------------------------------------------------------------------
ADDRESS CITY STATE ZIP
------------------------------------------------------------------------------------------------------------------------------------
SSN Marital Status [ ] Single [ ] Married [ ] Divorced [ ] Other ___________________
------------------------------------------------------------------------------------------------------------------------------------
SIGNATURE PRINTED NAME DATE
------------------------------------------------------------------------------------------------------------------------------------
ADDRESS CITY STATE ZIP
------------------------------------------------------------------------------------------------------------------------------------
SSN Marital Status [ ] Single [ ] Married [ ] Divorced [ ] Other ___________________
------------------------------------------------------------------------------------------------------------------------------------
17
