CASHWAY FUNDING STARTUP KIT FREE ACCOUNT IN 5 MINUTES Welcome to Cashway Funding! Now you can join other successful trucking companies and enjoy the benefits of a profitable and growing trucking business. If you are looking for a fast and simple way to get paid for the loads you haul, Cashway is for you. Fax us your freight bills & get cash now Cashway offers the fastest way to get paid for your freight bills. With a free Cashway Funding account, you can just fax or email your freight bills to us and we will send payment-in-full to you today! Instead of waiting weeks or months to collect, receive your money within hours with no risk and no hassles. For your convenience, we offer multiple funding options including: prepaid VISA cards, Comdata fuel cards, Comcheks, ACH deposits, wire transfers, cash pickups at popular locations like Walmart as well as traditional checks by mail. Free back office support and risk protection Cashway Funding clients never worry about customers who don't pay, because we provide billing and collection services for free. On top of that, we take full responsibility for collecting payments from your customers as part of our 100% non-recourse risk protection. Cashway clients also enjoy unlimited access to free credit information and online transaction reports as well as special offers from leading industry partners. Fast & flexible with no strings attached Use your Cashway Funding account every day, once a month, or once a year it's completely up to you! We don't force you to send us freight bills and we don't charge monthly or annual fees. Simply choose the customer accounts you want us to handle for you and continue to bill your other customers directly. Our service is easy to use and it's always free to make changes. Common-sense account setup Ready to get started? Activating your new Cashway account is quick and easy! Just fax us the documents listed below and we'll take care of the rest. Try us with no obligation - you will be ready to start receiving payments in minutes! Fax the documents listed below to 877-779-3621 to start today! Cashway Agreement (4 pages) If you are a Sole Proprietor (DBA), please include: Cashway Notice of Assignment Completed IRS Form W9 Copy of Utility Bill listing physical address Copy of Social Security Card Copy of Operating Authority Copy of Driver's License Copy of Voided Check If you are a Corporation or LLC, please include: Articles of Incorporation (Or similar, listing owners) Insurance Certificate (List Cashway as Certificate Holder) Our clients always come first Thank you for choosing Cashway Funding. Our friendly team of experienced professionals is here to help you get what you want from your business. Call us today at 888-752-1443 to learn how to get the most from your new Cashway account we are at your service. We appreciate the opportunity to earn your business, and look forward to talking with you soon!
SECTION A: CLIENT INFORMATION Full Legal Name of Company: Other Trade Names: Prior Business Name(s): Years in Business: Business Structure: Principal Owner: Corporation Limited Liability Company Sole Proprietor (DBA) Partnership Title: Authorized Contact: Title: Street Address: City: State: Zip: Office Phone: Cell Phone: Email Address: USDOT Number: MC Number: # of Trucks: # of Drivers: Please answer the following questions (Yes or No): Have you or has your company ever filed for bankruptcy? YES NO Do you or does your company have any past due Federal or State Taxes? YES NO Are there any UCC filings against you or against your company? YES NO Are there any liens against you or against your company? YES NO Have you or has your company ever used a factoring company? YES NO Are you or is your company currently using a factoring company? YES NO AS OWNER OF THE ABOVE-NAMED BUSINESS, I DECLARE THE FOREGOING INFORMATION TO BE TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE AND PROVIDE ANY AND ALL INFORMATION CONTAINED HEREIN TO INDUCE EAGLE BUSINESS CREDIT, LLC D/B/A CASHWAY FUNDING TO CONSIDER ENTERING INTO A FACTORING ARRANGEMENT WITH THE ABOVE-NAMED BUSINESS. I HEREBY AUTHORIZE CASHWAY FUNDING AND/OR ITS AGENTS AND ASSIGNS TO VERIFY AND INVESTIGATE ANY AND ALL OF THE FOREGOING STATEMENTS AND HAVE CASHWAY FUNDING PERFORM A UCC SEARCH AND FILING(S). THERE IS A $100 PROCESSING AND UCC TERMINATION FEE WHICH IS REQUIRED TO CLOSE THE ACCOUNT AT THE CONCLUSION OF THE FACTORING RELATIONSHIP WHEN ALL OBIGATIONS ARE PAID AND SATISFIED IN FULL. AGREED AND CONSENTED TO: Print Name: Signature: Company Name: Date:
SECTION B: FUNDING GUIDELINES To ensure fast and dependable service, we ask clients to please be aware of the following terms and conditions of your Cashway Funding account. Please note that terms are subject to change without notice: SAME-DAY FUNDING. Cashway will fund client 95.05% of the full amount of each freight bill submitted, net of any advances and/or fees held against the bill by client's customer. To obtain funding, client agrees to provide Cashway with a) a legible and complete rate contract/rate confirmation for the shipment, and b) legible and complete copies of bills of lading for delivered and complete shipments which have been signed by any and all applicable consignees/receivers, along with any and all applicable documentation required to obtain payment for the shipment from their customer. Client may send paperwork by any convenient means to Cashway for payment (ie. Fax, email, truck stop scanning, etc.). Client agrees to forward all original bills of lading to Cashway within five (5) business days of funding. FREE CREDIT INFORMATION. Cashway will provide clients with free credit information as to the funding status of client's customers and/or prospective customers. Cashway will research the status of the customer at no charge and advise client of the funding status of the customer. The funding status will be reported to clients as either Approved or Denied. Cashway will not provide funding for loads delivered on behalf of Denied customers. We encourage clients to check the funding status of their customers before moving freight for them. Credit requests can be made by telephone, email, text message, or through the Cashway website. CUSTOMER-BY-CUSTOMER BASIS. Cashway does not force clients to send freight bills to us. Once a client begins to use Cashway for a certain customer, client agrees to send Cashway all freight bills pertaining to that customer until Cashway has been notified otherwise. If you choose to discontinue using Cashway for a particular customer, we will remove that customer from your Cashway account at no charge upon receipt of a written request from you, and upon satisfaction of any obligations owed to Cashway by the customer. NON-FACTORED LOADS. Cashway takes all possible steps to provide funding for every freight bill we receive, but we do reserve the right to delay funding for shipments which have been double-brokered, damaged, picked up or delivered late, deemed subject to claim, received under protest, delivered with shortages, or for any other reason. To avoid funding delays, we suggest that any problems which arise during shipments are immediately communicated to your customer and to Cashway. If Cashway is short-paid by one of your customers on a freight bill which was funded by us, we reserve the right to deduct/offset the short-paid amount from a future settlement. In the event that we are unable to provide funding for a certain shipment, we will be happy to invoice your customer for you at no charge and forward paymentin-full to you when it is received. We will not charge funding fees for such shipments. NOTIFICATION. Prior to receiving funding, Client agrees to notify Cashway of any known or suspected damages, potential claims, shortages, late deliveries/pickups, or of any other issues which may affect the timely and full payment of the freight bill. Should client receive funding from Cashway for a shipment which is later found to be subject to non-payment or short-payment due to non-performance of the client, fault of the client, or for any other reason, client will reimburse Cashway the amount of the short-payment up to the full amount of the invoice within five (5) business days. ADVANCES. Clients are free to draw advances from their customers against the balance of their shipments prior to receiving funding by Cashway, provided that: a) the advances are for no more than fifty percent (50%) of the gross amount of the amount payable for the shipment, b) that any and all advances are taken following the issue of a rate contract/rate confirmation for the shipment and c) that the advance is issued to the client following pickup of the shipment at issue by the client. Clients may not draw advances or other payments of any kind from customers for shipments after they have received funds from Cashway for those shipments. Should client violate this policy, client will reimburse Cashway the full amount of any advances received. Cashway reserves the right to charge client a collections fee up to the maximum amount allowed by law. MISDIRECTED PAYMENTS. It is possible that clients may from time to time receive payment from customers for shipments which have been previously funded to client by Cashway. Should client receive payment which is legally owed to Cashway, client agrees to notify Cashway and forward the payment to Cashway within two (2) business days of receipt. AGREED AND CONSENTED TO: Print Name: Signature: Company Name: Date:
SECTION C: TERMS & CONDITIONS Client, its owners and officers warrant all information provided herein to be true and correct to the best of its knowledge. Providing Cashway with fraudulent information, including but not limited to falsifying documents, modifying or altering documents, providing false or misleading information in any way will subject client to any and all civil, criminal or other courses of action available to Cashway. Client represents and warrants that the execution, delivery and performance of this Agreement and all documents or agreements related to this Agreement by Client, to the extent to be executed, delivered or performed by Client, have been duly authorized by all necessary action by Client; that this Agreement and any instrument or agreement required hereunder to be given by Client, when executed and delivered by an authorized representative of the Client, will constitute the legal, valid and binding obligations of Client, in accordance with their respective terms; that Client is solvent, duly organized, validly existing and in good standing within the state it is organized, is validly existing and in good standing in all states in which Client is doing business, and is properly insured pursuant to applicable law and to prudent levels; that Client has the full power and authority to transact the business in which it is presently engaged or presently proposes to engage; that each account purchased by Cashway is and will remain a bona fide obligation created by the rendition of services, does not involve either sales to any entity which is affiliated with Client or sales that in any way could be construed as constituting arms length transactions, and each account is unconditionally owned by Client; that each account purchased by Cashway will be paid to Cashway when due without defenses, disputes, offsets, counterclaims, rights of return or cancellations, and is not double brokered; that Client will not factor of sell its accounts except to Cashway; that Client shall notify Cashway in writing prior to any change in Client's name, address, use of additional trade names or proposed change in any of the officers, principals, partners and/or owners of Client; and that Client shall notify Cashway in the event of it changing its form of entity. If Client fails to act in accordance with any of the terms presented herein, client agrees to pay interest on any unpaid balances owed to Cashway at a rate not less than 1.5% per month, and not more than the maximum rate allowable by law. Should Cashway employ an attorney or any other professional service to enforce any of its rights under this Agreement or under any other Agreement between Cashway and client, including, without limitation, rights arising out of the inaccuracy of any of the promises made of the obligations set forth in this Agreement, Client agrees, in addition to any other amounts owed to Cashway, to pay to Cashway any and all costs and expenses of collection, including reasonable attorney's fees. In no event will Cashway be liable to Client for any lost savings, lost profits, or any other consequential, incidental or special damages resulting from or arising out of or in connection with this Agreement, the transactions or relationships contemplated hereby or Client's performance or failure to perform hereunder, even if Client has been advised of the possibility of such damages. This Agreement shall have full and binding effect on Client until such time as the obligations are paid and satisfied in full and Cashway has no other or further obligation, contingent or otherwise, to make any present or future funding or to incur any present or future expense contemplated by this Agreement or any other agreement between the Client and Cashway, and Client shall have executed a release, in form and substance satisfactory to Cashway of all obligations and liabilities of Cashway and its officers, directors, employees, agents, parents, subsidiaries, affiliates and assigns. If Client obtains new financing from another lender, Client shall deliver such lender's indemnification of Cashway, in form and substance satisfactory to Cashway, for checks and payments which Cashway has credited to Client's account, but which subsequently are dishonored for any reason. Client will indemnify, defend and hold harmless Cashway, its officers, employees, attorneys, agents and assigns against any obligations demands, claims, and liabilities asserted by any other party in connection with the transactions contemplated by this Agreement; and any losses or expenses incurred or paid by Cashway from or consequential to transactions between Cashway and Client (including reasonable attorney's fees and expenses), except for losses caused by the gross negligence or willful misconduct of Cashway. Client will indemnify and hold harmless Cashway, its officers, employees and designees against any claims and demands arising from the collection of any of the Accounts or the exercise of any rights against any collateral by Cashway, its officers, employees and/or designees. As an inducement to enter into this Agreement, Client hereby grants to Eagle Business Credit, LLC d/b/a Cashway Funding a continuing senior security interest in all accounts, equipment, inventory, deposit accounts, instruments, chattel paper, electronic chattel paper, letter of credit rights, and general intangibles now or hereafter owned or acquired by Client, however arising, and all proceeds and collections thereof and all guaranties or other security therefore, together with all records of Client which pertain to the foregoing and all computer programs and systems used in connection therewith and a general lien to secure the full payment and performance of all liabilities and obligations of Client to Cashway of every kind and description, direct or indirect, absolute or contingent, due or to become due, whether now existing or hereafter arising under this Agreement. Notwithstanding the creation of the above security interest, the relationship of the parties shall be that of purchaser and seller of Accounts, and not that of lender and borrower. Client hereby authorizes Eagle Business Credit, LLC d/b/a Cashway Funding to file all documents it deems necessary to perfect a security interest in any collateral, including but not limited to UCC Financing Statement(s). Upon default by Client under this Agreement or any other agreement between Cashway and Client, or in the event that Cashway determines in its sole discretion at any time hereafter, that it is insecure with respect to the performance by Client of all or part of the obligations of Client to Cashway under this Agreement or any other agreement between Client and Cashway, then all obligations of Client under this Agreement or any other agreement between Client and Cashway, without demand or notice of any kind or nature, shall immediately become due and payable and Cashway may exercise its rights under this Agreement, any other agreement between Client and Cashway or any applicable law.
SECTION C: TERMS AND CONDITIONS Each provision of this Agreement is severable from every other provision in determining the enforceability of any provision. In the event any one or more of the provisions contained in this Agreement is held to be invalid, illegal or unenforceable in any respect, then such provision shall be ineffective only to the extent of such prohibition or invalidity, and the validity, legality, and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. This Agreement binds and is for the benefit of successors and permitted assigns of each party. Client may not assign this Agreement or any rights under it. Cashway may, without the consent of or notice to Client, sell, transfer, or grant participation in any part of Cashway's obligations, rights or benefits under this Agreement. Cashway may assign its rights and delegate its duties hereunder. Upon such assignment, Seller shall be deemed to have attorned to such assignee and shall owe the same obligations to such assignee and shall accept performance hereunder by such assignee as if such assignee were Cashway. This Agreement and all transactions contemplated hereunder and/or evidenced hereby shall be governed by, construed under, and enforced in accordance with the laws of Cherokee County, Georgia. The parties agree that any suit, action or proceeding arising out of the subject matter hereof, or the interpretation, performance or breach of this Agreement, shall, if Cashway so elects, be instituted in Cherokee County, Georgia. Each party agrees that Cherokee County, Georgia is convenient to it, and each party irrevocably submits to the jurisdiction of Cherokee County, Georgia, irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement, and waives any and all objections to jurisdiction or venue that it may have under the laws of Georgia or otherwise in those courts in any such suit, action or proceeding. HAVING READ, UNDERSTOOD AND AGREED TO THIS DOCUMENT, the parties hereto have executed this Agreement as of the date indicated below. Each of the undersigned acknowledges that he/she is the owner or authorized representative of Company. The undersigned hereby jointly and severally unconditionally guarantees and promises to pay on demand and in full Cashway, it's agents, successors or assigns, and and all indebtedness and obligations of Company to Cashway under this Agreement or any other agreement between Cashway and Client. AGREED AND CONSENTED TO PERSONALLY AND ON BEHALF OF COMPANY: Print Name: Signature: Company Name: Title: Date:
Attention: Accounts Payables Manager NOTICE OF ASSIGNMENT We are pleased to notify you that the below-named has chosen Eagle Business Credit d/b/a Cashway Funding to provide it with funding and professional services. Accordingly, all payments pertaining to the account of the Carrier named below are hereby assigned to Cashway Funding: Company Name: City: State: MC Number: USDOT Number: Effective immediately, all current and future payments due to your Carrier are to be sent to Cashway Funding and not to any other party or location. As provided by 9-406 of the Uniform Commercial Code, payments to any party other than Cashway Funding will not relieve your obligation to your Carrier. Please make remittances payable to (YOUR CARRIER) C/O CASHWAY at the following address: CASHWAY FUNDING P.O. BOX 300044 DULUTH, GA 30096-0300 This Assignment shall remain effective until such time a written release is provided to you by Cashway Funding. We appreciate your cooperation in this matter and we would be pleased to answer any questions you may have regarding this Notice. Please contact us at 855-420-8318 if we may be of service. Best Regards, Company Name Signature CASHWAY FUNDING Ian Varley, CEO Printed Name Title Date