TITUS SERVICE PRO TERM
Revised: October 31, 2024
1. ACCEPTANCE OF TERMS
Aalto, Inc., dba Titus (“Titus”, “we”, “our” or “us”) provides the Services, as such term is defined in the Titus Terms of Services, provided at gotitus.com/terms (the “TOS”). By using the Services as a Titus - approved home improvement service provider (a “Service Pro”), you also agree to be bound by the TOS, and its terms are hereby incorporated by reference (together with these Service Pro Terms, this “Agreement”). Titus may, at its discretion, update these Service Pro Terms at any time. You can access and review the most current version of these Service Pro Terms at the URL for this page or by clicking on the “Service Pro Terms” link within the Services, or as otherwise made available by Titus.
PLEASE REVIEW THIS AGREEMENT CAREFULLY. BY REGISTERING FOR A SERVICE PRO ACCOUNT OR OTHERWISE ACCESSING OR USING THE SERVICES AS A SERVICE PRO, YOU AGREE TO BE BOUND BY THIS AGREEMENT AND TITUS’ ESIGN CONSENT (WHICH IS INCORPORATED HEREIN BY REFERENCE), INCLUDING ANY UPDATES OR REVISIONS POSTED HERE OR OTHERWISE COMMUNICATED TO YOU. IF YOU DO NOT AGREE WITH THE TERMS AND CONDITIONS OF THIS AGREEMENT, YOU MAY NOT ACCESS OR USE THE SERVICE S AS A SERVICE PRO.
You represent and warrant that you: (a) meet the eligibility requirements set forth in Section 2(b); (b) are of legal age to form a binding contract; (c) have the right, authority, and capacity to agree to and abide by this Agreement; and (d) are not a person barred from using the Services under the laws of any applicable jurisdiction. THE SERVICES ARE NOT INTENDED FOR USERS UNDER THE AGE OF 18, SUCH USERS ARE EXPRESSLY PROHIBITED FROM SUBMITTING ANY PERSONAL DATA OR USING ANY ASPECT OF THE SERVICES, AND BY ACCESSING OR USING THE SERVICES YOU AGREE, REPRESENT, AND WARRANT THAT YOU ARE 18 YEARS OF AGE OR OLDER.
2. SERVICES
(a) Nature of the Services. The Services offer functionality that allows home improvement service providers and contractors to refer their clients (“Clients”) that are listing their homes for sale to apply for, and such individual homeowners to submit applications for, a closed-end installment loan (a “CLOC”), the proceeds of which such homeowners can use to pay for renovations or other improvements to their property (“Improvement Services”) in preparation for its sale. CLOCs are provided by Titus and loan eligibility and terms are not guaranteed and are subject to credit approval and underwriting by Titus.
(b) Eligibility Requirements. To be eligible to participate in the Services as a Service Pro, you must meet each of the following requirements during the entirety of the term of this Agreement:
- (i) You are, and at all times will be, properly and fully licensed, bonded and insured (at levels in accordance with applicable industry standards) under all applicable laws and trade regulations (and upon request will produce documentation to verify this), and further, you are currently insured in appropriate amounts to protect against any reasonably foreseeable risks associated with the Improvement Services, and have not been turned down for insurance coverage related to your provision of services. You will notify Titus promptly of any such changes to your licensing, bonding or insured status. If you or your company are operating under a license with special restrictions, you agree and represent that you will at all times operate within the guidelines as specified by such restrictions.
- (ii) You are qualified and capable of performing the Improvement Services;
- (iii) There must be no outstanding complaints against you with any state or government entity related to the provision of the Improvement Services or similar services;
- (iv) There must be no pending legal proceedings related to your business or any other functions you perform as a service provider or while providing Improvement Services;
- (v) You shall not make or give any representations, warranties or other promises concerning the Services, or use or distribute any marketing materials regarding the Services, which are not approved in advance by Titus in writing, and shall otherwise ensure that any statements you make regarding the Services to any current or prospective Client are accurate and complete in all respects;
- (vi) You must complete the required onboarding with the Titus team and remain current with Titus’ product and loan terms;
- (vii) You may not recommend any other renovation-to-sell services or loans in combination with the Services (including without limitation any CLOC);
- (viii) You must not seek or accept compensation from Titus; and
- (ix) You must agree to provide accurate Client information to the best of your knowledge.
(c) Scope of Authority. As a Service Pro and in connection with your promotion of the Services to your Clients, you agree that your sole authority shall be to market and promote the Services to your Clients who, to the best of your knowledge, meet the criteria set forth in Section 2(d) below. You agree that Titus will directly enter into agreements with your Clients in respect of the Services, including without limitation the Titus Terms of Service provided at gotitus.com/terms and, if a Client’s CLOC application is accepted, a loan agreement and related documentation. You are not, and shall not hold yourself out as, or permit any person to hold itself out as, or otherwise create the impression that you are, authorized to bind Titus in any capacity. You must further disclose to each applicable prospective or current Client that you have no authority or ability to negotiate or vary the Services, the terms of any CLOC or other loan provided by Titus or its designated third party loan provider, or enter into any contract or agreement on behalf of Titus.
(d) Client CLOC Applications. Titus will provide you, as a Service Pro, with a web or mobile link that you may share with Clients you reasonably believe are qualified to access the Services for the purpose for applying for a CLOC. You acknowledge your understanding that, to qualify to access the Services and apply for a CLOC, a Client must: (i) own an approved property type (single-family home or condo); (ii) own a home in a simple, common ownership structure; (iii) have a home that could benefit from rehabilitation or renovation; (iv) have less than 80% debt to equity ratio, including the desired CLOC amount; (v) own a home expected to sell quickly as compared to the general market; and (vi) meet Titus’ credit score requirements and such other underwriting requirements and changes to the foregoing as Titus may implement or apply from time to time.
(e) Additional Service Pro Obligations. In addition to any and all of your obligations hereunder, you, as a Service Pro, must comply with the following:
- (i) You must abide by any and all applicable local, state, or national, and any rules and regulations having the force of law while acting as a Service Pro and performing Improvement Projects;
- (ii) You may not use the Services in any manner that violates any relevant law or that infringes, misappropriates or violates any third party’s rights;
- (iii) You may not use the Services to harass, threaten, intimidate, impersonate, or attempt to impersonate, any other person, falsify your contact or other information, misrepresent a relationship with any person or entity, including misrepresenting a relationship with Titus, or otherwise attempt to mislead others; and
- (iv) You may not knowingly provide or submit false or misleading information to Titus, the Services or to Clients.
3. PAYMENTS FOR IMPROVEMENT SERVICES
Client Payments and Improvement Services Agreements. Through the Services, your Clients who have been approved for a CLOC and remain eligible as borrowers and not in default will be able to initiate payments to you. You agree to provide Titus with accurate, complete and current information for the direction to you by Clients through the Services of any ACH or other mode of payment Titus may specify from time to time, and to immediately update such information upon any change. Your Client will have sole control over whether and when any payment to you is initiated through the Services using such CLOC loan proceeds as may be available to such Client. Titus is not a party to, and shall have no responsibility for, any agreement between you and a Client or any other matter related to the provision of, receipt of and/or payment for Improvement Services. YOU ACKNOWLEDGE AND AGREE THAT TITUS IS NOT RESPONSIBLE FOR, AND YOU RELEASE AND DISCHARGE TITUS FROM ANY LIABILITY FOR, (i) ANY LOSSES YOU MAY INCUR DUE TO THE INACCURACY OR COMPLETENESS OF ANY BANK OR OTHER PAYMENT INFORMATION YOU MAY PROVIDE TITUS OR OTHERWISE THROUGH THE SERVICES, (ii) ANY FAILURE BY A CLIENT TO MAKE A TIMELY OR COMPLETE PAYMENT TO YOU, AND (iii) ANY DISPUTE BETWEEN YOU AND A CLIENT ARISING OUT OF OR RELATED TO THE IMPROVEMENT SERVICES.
4. FEES
(a) Fees. You agree to pay Titus a fee (“Fee”) equal to three percent (3%) of all amounts paid through the Services by a Client to you for Improvement Projects, which Fee amount will be debited by Titus from any such payment initiated by a Client to you through the Services, and which Fee amount may be increased or decreased by Titus from time to time in its sole discretion upon notice to you. You hereby authorize Titus and any third-party processor used by Titus to automatically withhold all such Fees from any and all payments to you initiated by a Client through the Services.
(b) Payment Terms and Third Party Providers. All payments will be made in United States dollars and are non-refundable. You hereby: (i) acknowledge and agree that Titus uses or may use a third party payment provider in connection with payments made by Clients to you through the Services and Titus’ collection of Fees; (ii) acknowledge and agree that Titus will not be responsible for any payments or charges as a result of your failure to provide up-to-date, accurate and complete information to Titus or any third party payment provider used by Titus; and (iii) acknowledge and authorize Titus and its third-party payment processors to charge and collect all Fees; and (iv) acknowledge that Titus is not responsible for any delay in or failure of Client payments to you due to inaccurate, incomplete or out-of-date payment account information provided by you.
(c) Taxes. All Fees exclude any and all taxes and similar fees now in force, enacted or imposed in the future on the delivery of the Services, including any sales, use or value added taxes, goods and services tax, consumption tax, customs duties or similar charges, but excluding withholding taxes and taxes solely based on Titus’ net income, and you shall be responsible for payment of all such taxes, duties and charges, and any related penalties and interest arising from the payment of such amounts.
5. THE TOS TERMS AND CONDITIONS
For the avoidance of doubt, all of the terms and conditions of the TOS are incorporated herein by reference, including without limitation, terms related to indemnification, arbitration, limitations of liability, notice, representations and warranties, assignment, governing law, and restrictions on use of the Services. Upon the termination of this Agreement pursuant to the TOS, in addition to any other terms and conditions in the TOS, you must immediately cease your use of the Services as a Service Pro, including without limitation, ceasing to market and promote the Services.