Common use of Disclosure and Certification Requirements Clause in Contracts

Disclosure and Certification Requirements. Section 607(e) requires any person who obtains a consumer report for resale to take the following steps: • Disclose the identity of the end-user to the source CRA. • Identify to the source CRA each permissible purpose for which the report will be furnished to the end-user. • Establish and follow reasonable procedures to ensure that reports are resold only for permissible purposes, including procedures to obtain: o the identify of all end-users; o certifications from all users of each purpose for which reports will be used; o and certifications that reports will not be used for any purpose other than the purpose(s) specified to the reseller. o Resellers must make reasonable efforts to verify this information before selling the report. • Reinvestigations by Resellers Under Section 611(f), if a consumer disputes the accuracy or completeness of information in a report prepared by a reseller, the reseller must determine whether this is a result of an action or omission on its part and, if so, correct or delete the information. If not, the reseller must send the dispute to the source CRA for reinvestigation. When any CRA notifies the reseller of the results of an investigation, the reseller must immediately convey the information to the consumer.

Disclosure and Certification Requirements. Section 607(e) requires any person who obtains a consumer report for resale to take the following steps: • Disclose the identity of the end-user to the source CRA. • Identify to the source CRA each permissible purpose for which the report will be furnished to the end-user. • • Establish and follow reasonable procedures to ensure that reports are resold only for permissible purposes, including procedures to obtain: o : (1) the identify of all end-users; o ; (2) certifications from all users of each purpose for which reports will be used; o and and (3) certifications that reports will not be used for any purpose other than the purpose(s) specified to the reseller. o Resellers must make reasonable efforts to verify this information before selling the report. • Reinvestigations by Resellers Under Section 611(f), if a consumer disputes the accuracy or completeness of information in a report prepared by a reseller, the reseller must determine whether this is a result of an action or omission on its part and, if so, correct or delete the information. If not, the reseller must send the dispute to the source CRA for reinvestigation. When any CRA notifies the reseller of the results of an investigation, the reseller must immediately convey the information to the consumer.