Issuer - Underwriter - Oriented Sample Stored Value Product Agreement and Disclosures
What this document covers
The Issuer - Underwriter - Oriented Sample Stored Value Product Agreement and Disclosures is a legal document that outlines the terms and conditions associated with the purchase and use of a stored value card. This form is intended for use by financial institutions or businesses offering stored value products, distinguishing it from other financial agreements by focusing specifically on prepaid monetary instruments and their associated transactional boundaries.
Main sections of this form
- Initial Purchase Agreement: Details the terms for the initial payment for the stored value product.
- Loading Value Instructions: Outlines procedures for adding value to the stored value card and any associated fees.
- Usage Guidelines: Specifies how the stored value product should be treated, its non-credit nature, and liability concerns.
- Lost or Stolen Card Protocol: Addresses the process for reporting lost or stolen cards and limits on liability.
- Foreign Currency Transactions: Covers how currency conversions are handled for transactions outside the U.S.
- Governing Law: Indicates that the laws of Delaware govern the agreement.
Situations where this form applies
This form should be used when a business or financial institution wishes to issue stored value products, such as prepaid cards, to customers. It is essential in situations where the business intends to outline the rules and responsibilities related to the usage of these cards, including the risks involved for both the issuer and the cardholder.
Who this form is for
- Financial institutions that offer stored value products to consumers.
- Businesses looking to establish clear terms when selling or issuing prepaid cards.
- Individual contractors involved in the development or management of electronic payment solutions.
Completing this form step by step
- Identify the parties involved: Clearly list the issuer (XYZ, Inc.) and the customer acquiring the stored value product.
- Specify the payment amount: Fill in the initial purchase amount for the stored value product.
- Detail loading value procedures: Provide information on how customers can add value to the card, including fees.
- Address lost or stolen card procedures: Include instructions for customers to report lost or stolen cards.
- Sign and date the agreement: Both parties must sign and date the document to finalize the agreement.
Does this document require notarization?
This form usually doesn’t need to be notarized. However, local laws or specific transactions may require it. Our online notarization service, powered by Notarize, lets you complete it remotely through a secure video session, available 24/7.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to specify all applicable fees related to loading value onto the stored value card.
- Neglecting to provide clear instructions for reporting lost or stolen cards.
- Not ensuring both parties sign and date the agreement.
Benefits of completing this form online
- Convenience: Access and complete the form from anywhere, at any time.
- Editability: Easily modify the content to fit your specific needs before finalizing.
- Reliability: Forms are crafted by licensed attorneys, ensuring legal validity.
Legal use & context
- The agreement establishes the legal relationship between the issuer and the customer regarding stored value products.
- It serves as a binding contract, outlining the rights and responsibilities of both parties.
- Limits on liability associated with lost or stolen cards are highlighted and must be considered carefully by the user.
Quick recap
- The agreement governs the use of stored value products and protects both the issuer and customer.
- Understanding the terms is crucial to prevent mismanagement of funds loaded onto the cards.
- Regular users of stored value products must be aware of their rights and obligations as outlined in this agreement.
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FAQ
The term best efforts refers to an agreement made by a service provider to do whatever it takes to fulfill the requirements of a contract. In finance, an underwriter makes a best efforts or good faith promise to the issuer to sell as much of their securities offering as possible.
Definition: Underwriting is one of the most important functions in the financial world wherein an individual or an institution undertakes the risk associated with a venture, an investment, or a loan in lieu of a premium. Underwriters are found in banking, insurance, and stock markets.
Underwriters commission is calculated at 5% of the shares offered and underwritten. R120 was received along with matching application forms. Underwriters commission is calculated at 5% of the shares offered and underwritten.
Usually, there are two types of securities underwriters Institutional underwriters, which are specialized financial institutions, and Non-Institutional underwriters, which are mainly brokers.
Underwriting commission is the compensation that an underwriter receives for placing a new issue with investors. It is the fee which an investment banker charges for underwriting a security issue.Underwriting commission is also called a concession.
Quote quickly. Decline even quicker. Return phone calls with answers. I get back to the customer within a few hours, and certainly no longer than 24 hours. Be a step ahead. Share information. Understand the client. If I can't help, I know who can. Never get a follow-up.
Firm Underwriting. Firm underwriting is an underwriting agreement in which underwriter takes up a certain number of securities of firm himself. Sub-Underwriting. Joint Underwriting. Syndicate Underwriting. Complete Underwriting. Partial Underwriting.
An underwriter is a financial expert who takes a look at your finances and assesses how much risk a lender will take on if they decide to give you a loan. More specifically, underwriters evaluate your credit history, assets, the size of the loan you request and how well they anticipate that you can pay back your loan.
As outlined above, there are basically three different types of underwriting: loans, insurance, and securities.
