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Terms & Conditions

Lead Referral Program Agreement

This Lead Referral Program Agreement (the "Agreement") is entered into between "Racks Direct," hereinafter referred to as the "Company," and the "Agent." This Agreement outlines the terms and conditions under which the Agent can participate in the Company's lead referral program.

 

1. Referral Commission Structure

The Company agrees to pay the Agent a referral commission for successfully referred leads as follows:

  • All new agents will start at a 3% referral commission for each successfully closed and funded deal.

  • The referral commission rate will step up incrementally based on the cumulative number of successful deals referred by the Agent, as follows:

    • 4% for deals 1-10 referred

    • 5% for deals 11-20 referred

    • 6% for deals 21-30 referred

    • 7% for deals 31-40 referred

2. Referral Eligibility

To be eligible for the referral commission, the following conditions must be met:

  • The lead's information must be submitted accurately through the official form submission located at www.racks-direct.com/agent.

  • The submitted lead information must include:

    • Agent's full name and phone number, including first and last name.

    • Lead's phone number.

    • Address of the new property.

3. Payment and Payout

The referral commission will be paid out to the Agent once the referred deal is fully funded and closed. Payment will be made in accordance with the commission structure mentioned in Section 1 of this Agreement.

4. Commission Cap

The maximum referral commission rate payable to the Agent is 7% of the total deal value. This cap applies regardless of the number of deals successfully referred by the Agent.

5. Non-Exclusivity

This Agreement does not create an exclusive relationship between the Company and the Agent. The Agent is free to participate in other referral programs or engage in other activities.

6. Confidentiality

The Agent agrees to treat all non-public information about the Company, its clients, and its business operations as confidential and shall not disclose such information to any third party without prior written consent from the Company.

7. Termination

Either party may terminate this Agreement at any time, with or without cause, by providing written notice to the other party.

8. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of [Your Jurisdiction], without regard to its conflict of laws principles.

9. Entire Agreement

This Agreement constitutes the entire agreement between the parties and supersedes all prior and contemporaneous agreements, understandings, negotiations, and discussions, whether oral or written.

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