Financing Application Terms

OSI is a product development and product design service provider that assists customers in applying for financing through third-party financial institutions. In order to facilitate this process, the Customer agrees to provide OSI with certain personal and financial information.

Information Provided by Customer

Customer agrees to provide OSI with accurate and up-to-date personal and financial information, which may include but not limited to:

Full name and contact information
Social Security Number or other government-issued identification number if lender is requiring it,
Date of birth
Employment and income information
Financial account information (e.g. bank account number, credit card information)

Use of Customer Information

Customer acknowledges and agrees that OSI will use the information provided solely for the purpose of assisting the Customer in obtaining financing for the product development and design services.
OSI will not disclose any Customer information to third parties without the express consent of the Customer, except to the extent necessary to obtain financing for the Customer.

Authorization for Processing

Customer hereby authorizes OSI to process their personal and financial information, including obtaining credit reports and verifying employment and income, for the purpose of obtaining financing for the product development and design services.

No Guarantee of Financing

Customer acknowledges and agrees that OSI does not guarantee that financing will be obtained. OSI will use its best efforts to assist the Customer in obtaining financing but cannot guarantee that financing will be approved.

Confidentiality and Security

OSI agrees to maintain the confidentiality and security of the Customer's personal and financial information. OSI will use reasonable efforts to protect the information provided by the Customer from unauthorized access, use, or disclosure.

Origination Fee

If the financing obtained through OSI's assistance is not used for product development or design services with OSI, the Customer agrees to pay OSI an origination fee equal to 10% of the financing amount.

Payment of Origination Fee

The origination fee shall be due and payable upon receipt of the financing proceeds. OSI shall have the right to deduct the origination fee from the financing proceeds before disbursing the remaining funds to the Customer.

Termination

Either party may terminate this Agreement at any time upon written notice to the other party. Upon termination, OSI will cease processing the Customer's personal and financial information.

Governing Law and Jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of the state where OSI is headquartered. Any disputes arising under or in connection with this Agreement shall be resolved in the courts located in the state where OSI is headquartered.

Entire Agreement

This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.

Counterparts

This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.