FICO Scoring Certifications Clause Samples

The FICO Scoring Certifications clause requires parties to confirm the accuracy and proper use of FICO credit scores within their business dealings. Typically, this involves certifying that FICO scores are obtained from authorized sources and are used in compliance with relevant agreements or regulations. By including this clause, the contract ensures that all parties maintain data integrity and legal compliance, reducing the risk of misuse or misrepresentation of credit information.
FICO Scoring Certifications. NCC and Client hereby understand and agree to the following terms and conditions regarding the use of Consumer Reports and reason codes obtained through NCC and the Credit Bureaus: a. Client may disclose the Consumer Reports provided to Client to credit applicants, when accompanied by the corresponding reason codes, in the context of bona fide lending transactions and decisions only. b. The client agrees to comply with all applicable laws and regulations with respect to the use of the Consumer Reports and reason codes purchased from NCC and certifies that it has a permissible purpose under the FCRA to obtain said Consumer Reports. The client agrees to limit its use of the Consumer Reports and reason codes to its own business and will not sell, transfer, license, or distribute Consumer Reports or reason codes to third parties. Client agrees to maintain security procedures to minimize the risk of disclosure of Consumer Reports to employees without a legitimate need to know. c. Client will not permit its employees, agents, or subcontractors to use any of the trademarks, service marks, logos, names, or any other proprietary designations, whether registered or unregistered, of Equifax Information Services LLC, Transunion, Experian Information Solutions, Inc., Fair ▇▇▇▇▇ and Company, or the Affiliates of either of them or of any other party involved in the provision of the Credit Bureau/Fair ▇▇▇▇▇ Model, without such entity’s prior written consent. d. Client will not permit its employees, agents, or subcontractors to, in any manner, directly or indirectly, discover or reverse engineer (or attempt to discover or reverse engineer) any confidential and proprietary criteria developed or used by Credit Bureau/Fair ▇▇▇▇▇ in performing the Credit Bureau/Fair ▇▇▇▇▇ Model. e. The Credit Bureau/Fair ▇▇▇▇▇ has warranted to NCC that the Credit Bureau/Fair ▇▇▇▇▇ Model is empirically derived and demonstrably and statistically sound and that to the extent the population to which the Credit Bureau/Fair ▇▇▇▇▇ Model is applied is like the population sample on which the Credit Bureau/Fair ▇▇▇▇▇ Model was developed. The Credit Bureau/Fair ▇▇▇▇▇ Model score may be relied upon by Client to rank consumers in the order of the risk of unsatisfactory payment such consumers might present to Client. Credit Bureau/Fair ▇▇▇▇▇ has further warranted NCC that so long as it provides the Credit Bureau/Fair ▇▇▇▇▇ Model, it will comply with regulations promulgated from time to time pursuant to the ...
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Related to FICO Scoring Certifications

  • Lobbying Certification This certification is a material representation of fact upon which reliance was placed when this transaction was made or entered into. Submission of this certification is a prerequisite for making or entering into this transaction imposed by section 1352, title 31, U.S.C. Any person who fails to file the required certification shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each such failure.

  • RECYCLING CERTIFICATION The Contractor shall certify in writing under penalty of perjury, the minimum, if not exact, percentage of post consumer material as defined in the Public Contract Code Section 12200, in products, materials, goods, or supplies offered or sold to the State regardless of whether the product meets the requirements of Public Contract Code Section 12209. With respect to printer or duplication cartridges that comply with the requirements of Section 12156(e), the certification required by this subdivision shall specify that the cartridges so comply (Pub. Contract Code §12205).

  • New Certifications If a participating Employer is newly certified by ONA at one of its owned nursing homes for its registered nurses, the existing standard non-monetary provisions in the central ONA/RN agreements will automatically apply to the nurses effective nine (9) months after the Employer receives notice to bargain from the Union or a Memorandum of Agreement or Interest Arbitration Award is received, whichever is earlier. These provisions include: Article 1 Article 2.03 Articles 2.05, 2.07-2.12 Articles 3-8 Articles 9.01(d) only, 9.03-9.13, 9.15, 9.16, 9.17 Article 10

  • CERTIFICATION REGARDING CERTAIN FOREIGN OWNED COMPANIES IN CONNECTION WITH CRITICAL INFRASTRUCTURE (Texas law as of September 1, 2021) By submitting a proposal to this Solicitation, you certify that you agree, when it is applicable, to the following required by Texas law as of September 1, 2021: If (a) company is not a sole proprietorship; (b) company has at least ten (10) full-time employees; (c) this contract has a value of at least $100,000 that is paid wholly or partly from public funds; (d) the contract is not excepted under Tex. Gov’t Code § 2274.003 of SB 19 (87th leg.); and (e) governmental entity has determined that company is not a sole-source provider or governmental entity has not received any bids from a company that is able to provide this written verification, the following certification shall apply; otherwise, this certification is not required. Pursuant to Tex. Gov’t Code Ch. 2274 of SB 19 (87th session), the company hereby certifies and verifies that the company, or association, corporation, partnership, joint venture, limited partnership, limited liability partnership, or limited liability company, including a wholly owned subsidiary, majority-owned subsidiary parent company, or affiliate of these entities or associations, that exists to make a profit, does not have a practice, policy, guidance, or directive that discriminates against a firearm entity or firearm trade association and will not discriminate during the term of this contract against a firearm entity or firearm trade association. For purposes of this contract, “discriminate against a firearm entity or firearm trade association” shall mean, with respect to the entity or association, to: “ (1) refuse to engage in the trade of any goods or services with the entity or association based solely on its status as a firearm entity or firearm trade association; (2) refrain from continuing an existing business relationship with the entity or association based solely on its status as a firearm entity or firearm trade association; or (3) terminate an existing business relationship with the entity or association based solely on its status as a firearm entity or firearm trade association. See Tex. Gov’t Code § 2274.001(3) of SB 19. “Discrimination against a firearm entity or firearm trade association” does not include: “ (1) the established policies of a merchant, retail seller, or platform that restrict or prohibit the listing or selling of ammunition, firearms, or firearm accessories; and (2) a company’s refusal to engage in the trade of any goods or services, decision to refrain from continuing an existing business relationship, or decision to terminate an existing business relationship to comply with federal, state, or local law, policy, or regulations or a directive by a regulatory agency, or for any traditional business reason that is specific to the customer or potential customer and not based solely on an entity’s or association’s status as a firearm entity or firearm trade association.” See Tex. Gov’t Code § 2274.001(3) of SB 19.

  • S▇▇▇▇▇▇▇-▇▇▇▇▇ Certification Each Form 10-K with respect to the Trust shall include a S▇▇▇▇▇▇▇-▇▇▇▇▇ Certification in the form attached to this Agreement as Exhibit X required to be included therewith pursuant to the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act. The Certificate Administrator, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer (in the case of the Asset Representations Reviewer, solely with respect to reporting periods in which the Asset Representations Reviewer is required to deliver an Asset Review Report Summary), the Custodian and the Trustee shall provide (and (i) with respect to any Servicing Function Participant of such party that is a Mortgage Loan Seller Sub-Servicer, shall use commercially reasonable efforts to cause such Servicing Function Participant to provide, and (ii) with respect to any other Servicing Function Participant of such party (other than any party to this Agreement), shall cause such Servicing Function Participant to provide) to the Person who signs the S▇▇▇▇▇▇▇-▇▇▇▇▇ Certification for the Trust or any Other Securitization Trust (the “Certifying Person”) no later than March 1 in the year immediately following the year as to which such Form 10-K relates or, if March 1 is not a Business Day, on the immediately following Business Day, a certification in the form attached to this Agreement as Exhibit Y-1, Exhibit Y-2, Exhibit Y-3, Exhibit Y-4, Exhibit Y-5, Exhibit Y-6, Exhibit Y-7 and Exhibit Y-8, as applicable, on which the Certifying Person, the entity for which the Certifying Person acts as an officer, and such entity’s officers, directors and Affiliates (collectively with the Certifying Person, “Certification Parties”) can reasonably rely. With respect to each Outside Serviced Mortgage Loan serviced under an Outside Servicing Agreement, the Certificate Administrator shall use commercially reasonable efforts to procure, and upon receipt deliver to the Certifying Person, a S▇▇▇▇▇▇▇-▇▇▇▇▇ back-up certification similar in form and substance to the certifications referenced in the preceding sentence, from the related Outside Servicer, the related Outside Special Servicer, the related Outside Paying Agent and the related Outside Trustee. In the event any Reporting Servicer is terminated or resigns pursuant to the terms of this Agreement, or any applicable Sub-Servicing Agreement or primary servicing agreement, as the case may be, such Reporting Servicer shall provide a certification to the Certifying Person pursuant to this Section 10.06 with respect to the period of time it was subject to this Agreement or the applicable sub-servicing or primary servicing agreement, as the case may be.