ADDENDUM TO THE SUBSCRIBER SERVICES AGREEMENT
FOR
OFAC NAME MATCHING SERVICE
This Addendum to the Subscriber Services Agreement for OFAC Matching Service (“Addendum”) is made and entered into this ______day of ______, ______(“Effective Date”), by and between ______, a(n) ______corporation (hereinafter referred to as “Subscriber”) and KCB INFORMATION SERVICES, Inc.
WHEREAS, Subscriber and KCB INFORMATION SERVICES, Inc. have entered into the Subscriber Services Agreement dated ______, ______(“Agreement”); and
WHEREAS, Subscriber and KCB INFORMATION SERVICES, Inc. mutually desire to amend the Agreement as set forth herein;
NOW, THEREFORE, in consideration of the foregoing and subject to the terms and conditions set forth herein, the parties hereto mutually agree as follows:
1. General Provisions
A. Application. This addendum sets forth the conditions under which KCB INFORMATION SERVICES, Inc. will provide Subscriber with the OFAC Name Matching Service (described below). This Addendum shall apply to all OFAC Name Matching Services performed by KCB INFORMATION SERVICES, Inc. for Subscriber during this Addendum. Except to the extent set forth herein, the term “Services” (as used in the Agreement) shall include the OFAC Name Matching Service, and the terms and conditions in the Agreement relating to Services will apply to the OFAC Name Matching Service described herein.
B. Term of this Addendum. This Addendum shall terminate upon the earlier of (i) the termination of the Agreement; or (ii) by either KCB INFORMATION SERVICES, Inc. or Subscriber thirty (30) days after written notice to the other; or (iii) ten (10) days after KCB INFORMATION SERVICES, Inc.’s written notice to Subscriber of default, unless Subscriber shall have remedied the default within such ten (10) day period.
2. Charges to Subscriber. KCB INFORMATION SERVICES, Inc. shall invoice and Subscriber agrees to pay KCB INFORMATION SERVICES, Inc. the applicable charges set forth in Attachment A for the OFAC Name Matching Services rendered to Subscriber for each such inquiry to Experian’s consumer credit reporting database.
3. OFAC Name Matching Service. For purposes of this Addendum, the term “OFAC Name Matching Service” means the application of a name matching service performed by KCB INFORMATION SERVICES, Inc. wherein the consumer’s name transmitted by Subscriber inquiry or tape is compared to an Experian file containing limited identifying information of consumers listed by the United States Treasury Department, Office of Foreign Asset Control (“OFAC”) of Specially Designated Nationals whose property is blocked, to assist the public in complying with the various sanctions programs administered by OFAC. Based upon Subscriber’s request in a manner identified in Schedule B, KCB INFORMATION SERVICES, Inc. will perform a match of characters in the consumer’s name, social security number and year of birth, when available, and only where a match occurs, will KCB INFORMATION SERVICES, Inc. transmit to Subscriber a message indicating the “Spelling of name used to access report matches OFAC List” in the on-line environment, and will only return a list of those consumers where a match occurs in the batch environment (“OFAC Statement”).
4. Disclaimer of Warranty. KCB INFORMATION SERVICES, Inc. updates its file periodically from OFAC and cannot and will not, for the fee charged for the OFAC Name Matching Service, be an insurer or guarantor of the accuracy or reliability of the OFAC Name Matching Service nor the data contained in its file. Subscriber acknowledges and Subscriber will ensure that it’s customer’s acknowledge that the existence of a match based on very limited identifying information provided by OFAC does not necessarily indicate that the consumer for whom the Subscriber inquired is the same consumer referenced by OFAC. The use of the OFAC Name Matching Service does not attempt to, nor does it, satisfy any of Subscriber’s customer’s legal obligations which may be administered by OFAC or any other governmental agency. KCB INFORMATION SERVICES, INC. MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE OFAC NAME MATCHING SERVICE, INCLUDING, FOR EXAMPLE AND WITHOUT LIMITATION, WARRANTIES OF CURRENTNESS, COMPLETENESS, ACCURACY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
5. Subscriber Warranty. Subscriber warrants that it will use the OFAC Name Matching Service received from KCB INFORMATION SERVICES, Inc. hereunder solely in connection with transactions involving the consumer as to whom such information is sought, and will not request or use such information for purposes prohibited by law. Subscriber further wants that it will prohibit it’s customers from taking any adverse action against a consumer in whole or in part based upon an OFAC Statement.
6. Indemnification. Subscriber shall indemnify, defend and hold KCB INFORMATION SERVICES, Inc. harmless from and against any and all claims, liabilities and expenses, including responsible attorney’s fees, which may be asserted against or incurred by KCB INFORMATION SERVICES, Inc., that arise out of or are related to the use by Subscriber or its customers of the OFAC Name Matching Service.
7. Entire Understanding. This Addendum, Attachments A and B and the Agreement set forth the entire understanding of the parties with respect to the subject matter hereof and supersede to the extent indicated all prior agreements, letters, convenants, arrangements, communications, representations and warranties, whether oral or written, by any employee, officer or representative of their party.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed by their duly authorized representatives as of the day and year first above written.
KCB INFORMATION SERVICES, Inc. / Subscriber:By: / By:
Signature (Duly Authorized Officer Only) / Signature (Duly Authorized Officer Only)
Title: / Title:
Print / Print
3.28.02 / 2 of 2 / Reseller OFAC Addendum
SCHEDULE A
PRICING
The following pricing shall apply to the Subscriber Services Agreement for OFAC Name Matching Service covered by this Addendum:
No Charge for OFAC Search
10¢ for “ No Hit Notice “ for Dues Paying Members
20¢ for “ No Hit Notice “ for Dues Paying Members