Clearco Referral Program:
Terms & Conditions
Last updated August 29 2024. Updated again December 12 2024.
To participate in the Clearco Referral Program (“the Program”), you must agree to, and abide by, these terms and conditions (“Terms”) in their entirety. You may not participate in the Program where doing so would be prohibited by applicable law, or, would cause Clearco to violate applicable law. No referrer may use the Program to violate any law, infringe or violate the rights of any third party, or otherwise act in a manner that is deemed harassing, harmful, illegal, hateful, obscene or outside the spirit and intent of the Program.
- Key Definitions:
“Advance(s)” means any amount funded by Clearco to pay invoices of the Qualified Customer, as calculated by Clearco based on its records.
“Clearco” means CFT Clear Finance Technology Corp.
“Completed Online Referral Application” means the completed application submitted by or on behalf of Eligible Referrer through the Clearco Referral Program link as provided by Clearco.
“Eligible Referrer” means a business, company, or other legal entity which meets all of the following criteria: (a) be an active business; (b) has not breached the terms and conditions of any written agreement with Clearco or its affiliates, as determined by Clearco in its sole discretion; (c ) have an outstanding Clearco advance, as determined by Clearco in its sole discretion.
“Qualified Customer(s)” means a Referral that (i) is approved by Clearco to receive an Advance in a single transaction of $25,000 USD or more, (ii) receives from Clearco an Advance in a single transaction of $25,000 USD or more, (iii) is using Clearco in accordance with the terms and conditions established by Clearco, and (iv) is incorporated in a jurisdiction in the United States of America.
“Referral” means a business, company, or other legal entity that is (i) referred to Clearco through a Completed Online Referral Application by the Eligible Referrer, (ii) not previously referred by another Eligible Referrer of Clearco or its affiliates, as determined by Clearco at the time of the Advance, (iii) not a customer of Clearco or its affiliates with an active advance or any other funding from Clearco on or within one (1) year prior to the Referral Date, as determined by Clearco at the time of the first Advance, and (iv) not a current or previous customer of Clearco or its affiliates that has breached the terms and conditions of any written agreement with Clearco or its affiliates, as determined by Clearco at the time of the first Advance. If the Referral does not become a Qualified Customer within ninety (90) days of the Referral Date, the Referral shall no longer be a Referral of Eligible Referrer.
“Referral Date” means the date the Completed Online Referral Application is submitted to Clearco via the Partner Link.
“Referral Bonus” means $2,000 USD.
- Program. The Program allows fully compliant Eligible Referrer’s to earn a one-time Referral Bonus for each new Referral. Under the Program, upon completion of a successful referral, and subject to the terms and conditions below, an Eligible Referrer may be entitled to receive the Referral Bonus for such referral.
- Payment. Clearco will pay the Eligible Referrer the Referral Bonus for each Qualified Customer in accordance with the Terms herein. The Referral Bonus shall be earned as follows: one hundred (100%) of the Referral Bonus on the date Clearco irrevocably receives payment in full of the Specified Amount (as such term is defined in the executed Clearco Agreement between Clearco and the Qualified Customer, e.g., Advance plus fee) in accordance with the terms of such Clearco Agreement, provided that Eligible Referrer and Qualified Customer have (A) not breached the terms and conditions established by Clearco, and (B) No Outstanding Advance. Clearco will pay the Referral Bonus by net 30 business days or by in which the Referral Bonus is earned in U.S. dollars. “No Outstanding Advance” means no outstanding amounts are due and payable to Clearco on or prior to the date of the payment of the Referral Bonus.
- Taxes. The Referral Bonus shall be inclusive of all taxes. Eligible Referrer shall be responsible and liable for payment of all applicable taxes. Clearco may withhold taxes from the Referral Bonus and remit such withholding taxes to the relevant tax authority on behalf of the Eligible Referrer, as applicable.
- Non-Transferability. Any rights hereunder, if any, are not transferable or redeemable for cash except as described herein.
- Additional Terms.
a. Participation in this promotion is also subject to, and you agree to the terms of, Clearco’s Terms of Use (available at https://clearco.com/terms) and Clearco’s Privacy Policy (available at https://clearco.com/privacy), in each case as may be updated from time to time.
b. As a condition precedent to participating in the Program, you also agree and acknowledge that you are not and will not hold yourself out or conduct yourself in a manner which could give reason to believe that you are an employee, intermediary, agent, or sub-contractor of Clearco, or are otherwise affiliated to Clearco. You agree that your participation in the Program will not be construed as establishing an employment, agency, sub-contractor, or any similar other engagement/ relationship between you and Clearco.
c. In order to be considered as an Eligible Referrer, you also agree that you will not refer yourself, or any business by which you are employed, or of which you are otherwise considered to be a beneficial owner, officer, agent, sub-contractor or affiliate of under applicable law.
d. This Program is not an amendment to, nor does it supersede or waive any term of any executed agreement between Eligible Referrer and Clearco including any revenue share agreement, merchant cash advance agreement, Clearco Agreement or any other type of agreement. If there is a conflict between this program and such agreement, such agreement will govern to the extent necessary to resolve the conflict.
e. We reserve the right, at our sole discretion, at any time, and without notice, to change, modify, suspend, or revoke all or any part this Program or its terms or refuse any payments of the Referral Bonus hereunder, including, without limitation, for any person we find or believe to be manipulating or otherwise abusing the process, fairness, or integrity of the program or that otherwise in our discretion becomes ineligible. We also reserve the absolute right (with or without reason) to terminate any persons’ participation in the Program as well as review and investigate all referral activities and to suspend accounts or modify or rescind referrals as we deem fair and appropriate.
f. A Referral Bonus obtained through fraudulent activities or activities in violation of the terms and conditions hereunder, or the representations contained herein, will be null and void.
g. Referrals should only be sent to persons you have personal connections with and for personal and non-commercial purposes. The Program should not be used by any person for purposes other than as, and in the spirit, intended herein. By sending a referral, you hereby confirm that the referred party is aware of such intended referral, and has granted its consent to being contacted by Clearco to discuss Clearco’s products/ services. Mass email distribution, publication on third party websites (such as Redditt etc.) or any other promotion/ solicitation to participate in the Program in a manner that constitutes or appears to constitute unsolicited commercial email or "spam" in Clearco’s sole discretion is expressly prohibited. Bulk email distribution, distribution to strangers, or any other use of the services described herein in a manner that is not promoted is expressly prohibited and may be grounds for immediate disqualification from the Program and further legal action. In addition, you may not (i) tamper with the Program, (ii) act in an unfair or disruptive manner, or (iii) use any system, bot or other device or artifice to participate or receive any benefit in the Program.
h. In the event more than one Eligible Referrer provides the same Referral, only the Eligible Referrer that submitted the Completed Online Referral Application first, will be eligible for the Referral Bonus for such Referral.
i. CAUTION: ANY ATTEMPT TO DELIBERATELY DAMAGE OR UNDERMINE THE LEGITIMATE OPERATION OF THE PROGRAM MAY BE IN VIOLATION OF LAW. SHOULD SUCH AN ATTEMPT BE MADE, CLEARCO RESERVES THE RIGHT TO SEEK REMEDIES AND DAMAGES (INCLUDING ALL COSTS, FEES AND EXPENSES WE INCUR SUCH AS LEGAL/ATTORNEY’S FEES, COSTS AND DISBURSEMENTS) TO THE FULLEST EXTENT OF THE LAW, INCLUDING CRIMINAL PROSECUTION.
j. Referrers who do not comply with the Terms herein or the law, including anti-spam laws, are obligated to indemnify Clearco against any liabilities, costs and expenses Clearco incurs.