NFN anyone? - REO Property Preservation Forum
 
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post #1 of 8 (permalink) Old 11-07-2016, 08:27 PM Thread Starter
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NFN anyone?

Looking over their contract, and a couple things rub me the wrong way.

1.
NFN has the right to deduct ten percent (10%), per day that completed results are uploaded late, from any fee(s) due if Contractor’s result(s) or services were not compliant as described herein. However, if Contractor submits a property inspection outside of the time frames described, e.g. in Field Technician Memo 2015-17 "72-Hour Invoicing", but that is otherwise compliant and sufficient to constitute a claimable inspection, NFN may pay Contractor a fee of three dollars ($3.00) for the inspection.

2.
Contractor agrees that, as consideration to NFN for providing access to NFN’s confidential and proprietary information, Contractor will not compete with NFN as to, or solicit business from, NFN’s existing customers or potential customers with whom/which Contractor came into contact during the term of this Contract, even if Contractor was aware of any such existing or potential customer(s) prior to the term of this Contract, such non-compete period to include both the term of this Contract and a period of two (2) years following the expiration or termination of this Contract, regardless of reason.


Is this typical?
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post #2 of 8 (permalink) Old 11-08-2016, 07:05 AM
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Don't worry too much about that.

They will breach that contract the first time a payment is due.

Enforcement of the No-compete clause would be near impossible, since there is no proprietary process or product,and the scope and duration is not well defined.

Be more worried about their tendency to delay payment, and force contractors to collect the debt.
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post #3 of 8 (permalink) Old 11-08-2016, 11:02 AM
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Why do you think they are needing contractors? Because they didn't pay the last guy! They pay ridiculously slow!
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post #4 of 8 (permalink) Old 11-16-2016, 05:35 PM
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nfn

suing them now dont do it..
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post #5 of 8 (permalink) Old 12-02-2016, 06:36 AM
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Word is they are now losing clients, it started days ago.
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post #6 of 8 (permalink) Old 12-02-2016, 06:37 AM
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Due to not paying contractors.
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post #7 of 8 (permalink) Old 12-03-2016, 04:03 PM
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Owed $11,000 from August. The same answer every time. We are working on it. We put our acct on hold!!!


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post #8 of 8 (permalink) Old 12-04-2016, 10:51 AM Thread Starter
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My gut told me not to mess with them.
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