1. Assignment of Accounts Receivable

Client agrees to sell and assign selected accounts receivable ("Accounts") exclusively to Rapidfire. Rapidfire reserves the right to approve or reject any submitted Accounts at its sole discretion.

2. Account Submission Requirements

Client must provide:

• Original bill of lading, proof of delivery, or contract

• List of invoices and amounts to be funded

• Any additional documentation requested by Rapidfire

3. Power of Attorney

Client grants Rapidfire the authority to:

• Receive and manage mail related to assigned Accounts

• Endorse and negotiate payments on factored invoices

• Notify Clients’ customers of assigned Accounts and collect payments directly

4. Factoring Fees

• Fees are detailed in the Discount Schedule.

• A minimum fee of $10 per invoice applies.

• Fees are nonrefundable.

5. Advance Policy

• Clients may only receive advances from Customers before an invoice is factored.

• Unreported advances must be reimbursed to Rapidfire within five (5) business days, plus a penalty of 25% of the advance amount.

6. Ownership of Factored Accounts

Upon purchase, Rapidfire becomes the sole owner of factored Accounts. Any payments received by Client on factored invoices must be forwarded to Rapidfire within two (2) business days.

7. Default & Termination

Events of default include but are not limited to:

• Nonpayment of obligations to Rapidfire

• Submission of false financial statements

• Bankruptcy or insolvency

• Unauthorized assignments or pledges of Accounts

Rapidfire reserves the right to terminate agreements immediately upon default. Early termination by Client incurs a penalty of $125 per truck and a 2% fee on outstanding invoice balances.

8. Client Warranties

Client guarantees:

• Sole ownership of factored Accounts

• No prior assignment, pledge, or dispute on submitted Accounts

• Full performance of all goods or services related to the Accounts

9. Dispute Resolution

If a dispute results in payment withholding for more than five (5) days, Rapidfire may charge back the amount to the Client.

10. Personal Guaranty

The Client’s authorized representative personally guarantees all debts and obligations to Rapidfire, including legal costs incurred in enforcing these terms.

11. Security Interest

Client grants Rapidfire a security interest in all present and future accounts receivable, contract rights, reserves, and general intangibles. Rapidfire may file a UCC-1 Financing Statement to perfect its interest.

12. Handling Payments on Factored Invoices

• Clients must immediately notify Rapidfire of any factored invoice payments received.

• Failure to forward payments to Rapidfire may result in contract termination and a penalty of 15% of the invoice amount.

13. Governing Law & Jurisdiction

These Terms shall be governed by Oklahoma law. All disputes shall be resolved in Oklahoma County or the U.S. District Court for the Western District of Oklahoma.

14. Updates to Terms & Conditions

Rapidfire reserves the right to modify these Terms at any time. Continued use of our services constitutes acceptance of any updates.