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TERMS
AND CONDITIONS
When you obtain your payday loan, you will
sign an agreement to reference the following
procedures. The words
"I, you, and your" refers to you
(borrower) as a participant associated with
Hot Payday Cash Advance Program. The words
"us, we, and our" refers to Hot
Payday (lender).
Prepayment:
You may prepay your obligation under
this Agreement in full at any time without
penalty.
If you pay off your cash loan early you will
not have to pay a prepayment penalty, and
you may be entitled a refund of part of the
finance charge
Method
of Payment:
Your electronic authorization in the
amount of the Total of Payments stated in
the Federal Truth-In-Lending Disclosures and
dated as of the date indicated in the
Payment Schedule stated in the Federal
Truth-In-Lending Disclosures (the “Payment
Date”) will be held by us until the Payment
Date as Security for this cash advance. You
agree that we may debit your account for the
Payment if you have not paid us by cashier’s check, money order, or
other immediately available funds for the amount
of Total Payments on or after the
Payment Date. If payment is made prior to
the EFT/ACH payment date, we will cancel the
electronic authorization at the time we
receive payment.
Returned
Payments: In the event your electronic
payment of any amount due under this
agreement is returned due to insufficient
funds or credit, stopped payment, or closed
account, or any other reason, we shall
assess a $20 returned fee.
Documentation: I agree that electronic mail,
electronic forms, records, photocopies,
and/or facsimile copies of the documents I
submit are valid and enforceable as the
original. I agree that by typing or writing
my name as my signature, it is acknowledged
and understood that it constitutes an
acceptance of all terms and conditions of
the master cash advance agreement and is
valid and enforceable.
Jurisdiction:
This transaction shall be governed in
accordance with the laws of the State of
Utah without regard to its conflicts of law
principles, regardless of the order in which
the parties agree.
The Agreement shall be
deemed executed in
Utah as designated herein. Further, if any provision(s) of the Arbitration Clause
is/are found invalid, you agree that all
actions or proceedings arising directly or
indirectly, from this Agreement shall be
litigated in such courts and consent that
valid service of process may be made by
certified or registered mail, to you at your
address set forth herein or as may otherwise
be designated hereafter by you in writing,
and service so made shall be complete two
days after delivery as aforesaid. You and we
agree that each party in any such action is
to bear its own attorneys fees, costs and
expenses of such litigation regardless of
whether such fees and costs are provided for
under any applicable law or statute. The
codes, statutes and laws of the State of
Utah govern this entire transaction.
Class
Action:
I agree, to the extent permitted
by law, which I will not bring, join, or
participate in any class action or
multi-plaintiff action as to any claim,
dispute, or controversy I may have against
Hot Payday. I agree to the entry of
injunctive relief to stop such a lawsuit or
to remove myself as a participant in the
suit. This agreement does not constitute a
waiver of any of my rights and remedies to
pursue a claim individually.
Arbitration:
Both parties agree that any claim,
dispute, or controversy between us, any
claim by either party against the other or
the agents, services, or assigns of the
other, including the validity of this
agreement to arbitrate disputes as well as
claims alleging. Fraud or misrepresentation
shall be resolved by binding arbitration by
and under the Code of Procedures of the
National Arbitration Forum (NAF) at the time
the claim is filed.
Rules and form of the NAF may be
obtained and all claims shall be filed at
any NAF office on the World Wide Web at
www.arbforum.com
or at P.O. Box 50131, Minneapolis, MN 55405.
Any arbitration hearing, if one is held,
will take place at a location near your
residence. Your arbitration fees will be
waived by the NAF in the event you cannot
afford to pay them. This arbitration
agreement is made pursuant to a transaction
involving interstate commerce and shall be
governed by the Federal Arbitration Act 9.
USC Section 1-18. Judgment upon the
award may be entered by any party in court
having jurisdiction. Notice: Both parties
have had the right or opportunity to
litigate disputes through a court but we
have agreed instead to resolve disputes
through binding arbitration.
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