FINANCING AGREEMENT
Agreement
This Financing Agreement ("Agreement") is made and entered into as of:
, by and between Custom Health Centers, a Michigan corporation ("Company"), and:
, an individual ("Patient").
WHEREAS, the Company offers optimization services and medications ("Services") to its patients; and
WHEREAS, the Patient desires to obtain such Services and agrees to finance the cost of the Services according to the terms set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the parties hereto agree as follows:
Services Description
The Company agrees to provide the Patient with the Services in the form of medication as outlined in Patient's invoice that includes "Financing Fee". Any Modifications to the Services must be agreed upon in writing by both parties and attached as and amendment.
Financing Terms
A. A grace period of three (3) days after the due date will be provided before any penalties are applied.
B. If the Patient fails to make any monthly payment within the grace period, a late fee of $100 will be added to their balance.
C. If the late payment is not made within 30 days of the due date, an additional late fee of $100 will be added, and interest on the remaining balance will accrue at a rate of 20% per annum until paid in full.
Collection Costs
The Patient will be notified and given a final opportunity to settle their balance before the Company initiates any collection efforts. Should these efforts be necessary, the Patient will be responsible for all costs incurred by the Company related to such collection efforts, including, but not limited to, attorney’s fees and collection agency fees. The Company may disclose necessary personal data to relevant third parties (e.g., collection agencies, legal representatives) involved in the collection process only as permitted by applicable laws and with the strict requirement that these parties maintain the confidentiality and security of the data.
Privacy and Data Protection
The Company shall comply with applicable data protection laws, including [Specify Law, e.g., HIPAA], regarding the personal data received from the Patient. The Company agrees to handle the Patient's personal data with the utmost care, to use it solely for the purposes of fulfilling this Agreement, and not to disclose it to third parties without the Patient's explicit consent, except as required by law or as necessary for the collection of unpaid balances as detailed in section 4.
Dispute Resolution
A. In the event of a dispute arising under or relating to this Agreement, the parties first agree to try to resolve the dispute through friendly consultation.
B. If the dispute cannot be resolved by negotiation within thirty (30) days, the parties agree to proceed to mediation before a neutral mediator.
C. If mediation is unsuccessful, the dispute shall be resolved by arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules. The award rendered by the arbitrator shall be final and binding upon both parties.
Miscellaneous
A. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of Michigan.
B. Entire Agreement: This document contains the entire agreement between the parties regarding the subject matter hereof and supersedes all prior discussions, agreements, or understandings of any kind.
C. Amendments: No amendment, modification, or addition to this Agreement shall be binding unless in writing and signed by both parties.
D. Severability: If any provision of this Agreement is found to be illegal, invalid, or unenforceable, the remaining provisions will continue in full force and effect, and the parties will negotiate in good faith to replace the invalid provision with a valid one that most closely reflects the original intention.
E. Electronic Communications and Signatures: Electronic signatures on this Agreement are considered as valid as handwritten signatures. Electronic communications are permitted for all aspects of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Financing Agreement as of the date first above written.
Company Representative Name:
Jake Beaudin
Company Representative Signature:
