RAI Financial is an ecommerce platform with a no turn down policy that helps individuals obtain a revolving line of credit to purchase products online.
Net 30 Account Terms
Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases
BusinessFacts Standard $179.99
BusinessFacts Plus $249.99
• $15 on balances up to $100
• $29 on balances of $100 up to $250
• $39 on balances of $250 and over
Returned payment fee: $39
Method of computing the balance for purchases
Daily balance. This includes new purchases.
How do we apply your payment? We apply your payments in a way that is most favorable or convenient for us. This may include applying such payments to low APR balances before higher APR balances.
When can we change the rates, fees, and terms of your card agreement? We may change the rates, fees, and terms of your card agreement at any time, for any reason. These reasons may be based on information in your credit report or general market conditions. If the change will cause a rate or fee to increase, you will receive advance notice and a right to opt out. If you opt out, we will close your account. You can then pay the remaining balance under the old rates, fees, and terms.
The information about the cost of the card described in this application is accurate as of September 29, 2020. This information may have changed after that date.
TERMS AND CONDITIONS OF OFFER
• This offer is only valid for new accounts. You must be at least 18 years of age. If you are married, you may apply for a separate account. Rai Financial (“we” or “us”) is the issuer of your BusinessFacts NET30 Account. Rai Financial is located in Teaneck, NJ. Credit offers are intended for residents of, and this is not an offer for the credit card to individuals outside of, the United States and its Territories.
• To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. This means that we will ask for your name, address, date of birth, and other information that will allow us to identify you when you open an account. In addition, the bank must obtain the business’ legal name, its street address, and its taxpayer identification number. We may also ask to see your driver’s license or other identifying documents; and obtain identification information about you or any employees you add to your account.
• Federal law requires us to obtain, verify and record information that identifies each person who opens an account, in order to help the government fight the funding of terrorism and money laundering activities. To process the application, we must have the Business’ legal name, its street address, and its taxpayer identification number. Also, we must have the Authorized Officer’s name, home address, date of birth and other identifying information. We may ask for additional identifying documents from you as well.
• We may gather information about you including from an employer, bank, credit bureau, and others to verify your identity and to determine your eligibility for credit, the renewal of credit and future extension of credit. If you ask us, we will tell you whether or not we requested a credit bureau report, and the names and addresses of any credit bureaus that provided us with such reports.
• You authorize us to share with the retailer for whom this card is issued, and its affiliates, experiential and transactional information regarding you and your account.
• To receive a Rai Financial BusinessFacts NET 30 Account, you must meet our credit qualification criteria. Your credit limit will be determined by a review of your business credit report, bank data and in some instances, a review of such other financial information as we may ask you or the business to provide. You will be informed of the amount of your credit line when your account is opened.
INITIAL DISCLOSURE STATEMENT FOR THE STAPLES BUSINESS ACCOUNT
Please read this Initial Disclosure Statement (“Statement”) and keep it for your records.
Late Fee. We add a late fee for each billing period you do not pay the Minimum Payment Due by the payment due date. This fee is based on your account balance as of the Transaction Date shown on your statement for the late fee. The fee is $15 on balances up to $100; $29 on balances of $100 up to $250; and $39 on balances of $250 and over. We add this fee to the regular purchase balance.
Returned Payment Fee. We add a $39 fee if a payment check or similar instrument is not honored or if it is returned because it cannot be processed. We also add this fee if an automatic debit is returned unpaid. We assess this fee the first time your check or payment is not honored, even if it is honored upon resubmission. We add this fee to the regular purchase balance.
This Agreement (Agreement) is being made between you (“Client’) and Rai Financial LLC. Client and Rai Financial LLC may also be referred to as “Party” or together as the ‘Parties’.
This Agreement will become effective on sign up (“Effective Date”). IN CONSIDERATION OF Rai Financial LLC Providing merchandise as desired by the Client. and the Client paying Rai Financial LLC for merchandise, the Parties agree to the following: E-Commerce Services Rai Financial LLC will process client orders in a timely fashion with confirmation of shipping within thirty (30) days.
Installments The remaining balance of the total cost of the Products after the Down Payment is made will be paid in 30 days (NET 30). Financing and Payment Cost: The total cost of the products are detailed on the invoice.
Agreement. The Down Payment will be applied to the total cost of the Services and is non-refundable. Method of Payment Payment of the Down Payment and Monthly Installments will be invoiced and due on receipt.
The Client is required to provide their preferred payment information to Rai Financial LLC upon signing this Agreement. The Client agrees to promptly update Rai Financial LLC in the event that there are any changes to their preferred payment information. Termination Termination by Completion.
This Agreement will automatically terminate when the Parties have performed all of their obligations under the Agreement and all payments have been made. Termination by the Client. The Client may terminate this Agreement at any time by providing Rai Financial LLC with a fourteen (14) day written notice of termination.
if the Client chooses to terminate this Agreement prior to full payment of the total cost of Services as detailed in Section 3(a), the Client must pay Rai Financial LLC the outstanding balance no later than the last day of the fourteen (14) day notice of termination period.
Termination by Rai Financial LLC If Rai Financial LLC makes reasonable requests for a response from the Client and the Client does not respond within thirty (30) days Rai Financial LLC may terminate this Agreement. Additionally Rai Financial LLC may terminate this Agreement immediately if the Client fails to make payment to Rai Financial LLC in accordance with Section 3.
Rai Financial LLC is not required to refund any monies paid for termination of this Agreement pursuant to this agreement. Changes to Credit Reporting Policy Rai Financial LLC reserves the right at its sole discretion, to change, modify, add or remove portions of this Credit Report Policy and the other Rai Financial LLC policies at any time, without notice.
It is your responsibility to check these policies and terms periodically for changes. Your continued use of this Website following the posting of changes will mean that you accept and agree to the changes. As long as you comply with these terms and policies, Rai Financial LLC grants you personal, non-exclusive, non-transferable, limited privilege to enter and use the Website. Commercial Reports We may request commercial reports and related information about your business in connection with either your inquiry as to whether you qualify for a Rai Financial LLC BusinessFacts NET 30 account or your submission of an application for a Rai Financial LLC product on the Website (“Product Application”).
These commercial reports will be requested from one of more U.S. National Commercial credit reporting agencies such as Experian, Equifax, Dun & Bradstreet, and Credit Safe (collectively, the “Credit Bureaus”).
Dispute Resolution Negotiation – In the event of a dispute, the Parties agree to work towards a resolution through good faith negotiations. Mediation/Arbitration – If negotiation attempts are unsuccessful, either Party may initiate mediation or binding arbitration in a forum mutually agreed to by the Parties. Litigation – If litigation is necessary, this Agreement will be interpreted based on the laws of the State of New Jersey, regardless of any conflict of law issues may arise. The Parties agree that the dispute will be resolved at a court of complete jurisdiction in the State of New Jersey.
Attorney’s Fees – The prevailing party is entitled to recover its attorney’s fees and other reasonable costs for a dispute resolved by binding arbitration or litigation.
Collections – Rai Financial LLC reserves the right to make collection efforts as necessary, to include the use of a collection agency, in attempt to recover any debts owed to it.
Severability – If any section of this Agreement is found to be invalid, illegal, or unenforceable, the rest of this Agreement will still be enforceable. Relationship of the Parties – The Parties of this Agreement are independent contractors. Neither Party is an agent, representative, partner, or employee of the other Party.
Waiver – Neither Party can waive any provision of this Agreement, or any rights or obligations under this Agreement unless agreed to in writing. If any provision, right, or obligation is waived, it’s only waived to the extent agreed to in writing. Reporting the Rai Financial LLC Account In the event you are approved for and accept a Rai Financial LLC product, you hereby authorize Rai Financial LLC to report commercial information to the Bureaus at various times during the term of your Rai Financial LLC product in connection with the servicing and monitoring of such product.
Notices All notice pursuant to this Agreement must be sent either by email with return confirmation of receipt, or certified or registered United States Postal Service mail with return receipt requested to the following individuals/entities Rai Financial, LLC 1340 Teaneck Road, Floor 2. Teaneck, NJ 07666
By electing to receive online e-Statements, you agree to receive and access your monthly periodic billing statement electronically. You will receive an email from us notifying you when your current RAI Financial Account statement is available. To view your billing statement you must click on the link in the email notification or sign in at ncdfinancial.com to access, view or print your statement. We reserve the right to send you paper statements at our discretion, even if you have given us consent to provide your statements electronically. If the email address you have provided to us is not deliverable, you will receive paper statements until the time you provide us a new valid email address. Once you have provided a new email address, you will begin to receive e-Statements.
You will continue to receive e-Statements other than in the two situations described above. If you wish to change your preference to not receive e-Statements and instead to receive paper statements, you must sign in at www.raifinancialmgt.com to change your preference from e-Statement delivery to paper statements. You may opt to change your preference at any time.
Communications may be sent to your email address provided to us by you. Communications may include your name and information about your Credit Account, including your balance or the due date. Electronic communications may be disclosed to any party with access to your Credit Account or email account. All communications in either electronic or paper format from us to you will be considered “in writing.”
By accepting e-statements, you agree to:
• Receive this information electronically, access and retain any disclosures received. To do this you will need a desktop or laptop personal computer with a minimum web browser that supports 128 bit encryption.
• Have ability to receive and read email.
• Receive statements electronically and confirm that you will download or print the statements for your records, acknowledge that you can access information that is provided electronically at this website.
• Acknowledge that you are providing your consent to receive electronic communications pursuant to the Electronic Signatures in Global and National Commerce Act and our intent that this statute applies to the fullest extent possible.
Important Notice: You understand that the information you have elected to receive is confidential in nature. We are not responsible for unauthorized access by third parties to information and/or communications provided electronically or any damages caused by unauthorized access. We are not responsible for delays in the transmission of any information. We are not responsible for any computer virus or related problems.
If your email address changes, you are required to notify us. You have the option to receive any information provided electronically in paper form. To receive specific information in paper form, or to notify us of a change in your email address, contact us at email@example.com. You may also write us at RAI FINANCIAL LLC, 1340 Teaneck Road, Floor 2, Teaneck, NJ 07666.
Additional Mobile Technology Requirements: If you are accessing our site and the disclosures electronically via a mobile device (such as a smartphone, tablet, and the like), in addition to the above requirements you must make sure that you have software on your mobile device that allows you to print and save the statements presented to you. These applications can be found for most mobile devices in the device’s respective “app store.” If you do not have these capabilities on your mobile device, please access our site through a device that provides these capabilities.
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