Collection Agreement

The Organization hereby grants the GCM the sole, entire, and exclusive right to collect charges which may include, but are not limited to: dues, rent, utilities, meal plans, destruction of property, late fees, fines, organizational paraphernalia, and other charges assessed by the Organization.

GCM will:

1. Input a roster of contact information for the Members of the Organization, which may include but is not limited to names, addresses, email addresses, phone numbers, parents’ names, parents’ addresses, parents’ email addresses, and parents’ phone numbers;
2. Provide an online Terms of Service which must be accepted by all Members of the Organization. Upon request, GCM will provide a Membership Contract to the Organization that the Organization may ask its Members to execute. If requested, the GCM will maintain copies of these contracts;
3. Send invoices to each Member of the Organization and/or Member’s parent(s) or legal guardian(s) for each period designated in the Organization’s billing cycle during the term of this Agreement or until the Member’s account balance has been paid for that billing cycle;
4. Collect payment from each Member of the Organization or on behalf of each Member and deposit same into Greek Capital Management’s escrow account;
5. Transfer funds on behalf of the Organization in a timely manner;
6. Provide an online accounting of all charges, credits, and payments made by each Member of the Organization. Upon request, GCM will produce a summary of the current or previous semester’s transactions;
7. Upon request, charge a late fee to each Member of the Organization who is delinquent in paying monies owed;
8. Upon request, send a collection letter to each Member of the Organization whose account is 90 days past due and/or to the Member’s parent(s) or legal guardian(s);
9. Keep and maintain for a reasonable time all contracts and financial records for the Organization and its Members.

The Organization will:

1. Provide a roster of contact information for the Members of the Organization, which may include but is not limited to names, addresses, email addresses, phone numbers, parents’ names, parents’ addresses, parents’ email addresses, parents’ phone numbers;
2. Update the roster when new Members join the Organization during the same semester that the new Members join the Organization;
3. Designate a primary administrator to correspond with GCM for all of the Organization’s needs;
4. Provide direction to GCM as to when a Member of the Organization should be turned over to a third party collection agency;
5. Inform GCM as to how to proceed with respect to all tax-related issues.

GCM shall not condone or be held accountable for any illegal activities as seen by the laws of this country or for any actions that:

1. infringe on any third party’s copyright, patent, trademark, trade secret or other proprietary rights or rights of publicity or privacy;
2. violate any applicable law, statute, ordinance or regulation (including those regarding export control);
3. are defamatory, trade libelous, threatening, harassing, or obscene;
4. interfere with or disrupt any services or equipment with the intent of causing an excessive or disproportionate load on Greek Capital Management or its licensors or suppliers’ infrastructure;
5. involve knowingly distributing viruses, Trojan horses, worms, or other similar harmful or deleterious programming routines;
6. involve the preparation and/or distribution of “junk mail,” “spam,” “chain letters,” “pyramid schemes,” or the like;
7. would encourage conduct that could constitute a criminal offense, give rise to civil liability or otherwise violate any applicable local, state, national or international laws or regulations; or
8. involve the unauthorized entry to any machine.

GCM reserves the right to alert and voluntarily submit Organization’s records to the proper authorities if it is believed that illegal activity has occurred. The Organization agrees not to take part in any illegal activity in conjunction with using GCM’s service, including using GCM’s website to perform illegal activity.

The Organization agrees to pay GCM $50.00 per year for each Member registered with the Organization. This fee will be broken down into $25.00 per Member per semester for semester schools or $16.67 per Member for three quarters for quarter schools.

Member and/or Organization agree to pay a 3% charge for all domestic credit/debit card charges and 4% for all international credit/debit card charges (collectively, “Merchant Discount Fees”). Furthermore, the Organization agrees to pay a $25.00 penalty for each and every returned or “bounced” check by a Member and/or Organization that is collected on the Organization’s behalf. GCM may change its fees, charges, and discounts from time to time resulting from increases in the fees and charges imposed by any credit card association, banking institution, or third party vendors by giving notice of the change to the Organization.

This Agreement shall be for the term of one year from the date hereof and shall be renewed annually unless the Organization or GCM opts out of service.

This Agreement shall automatically renew for successive one-year terms unless either party provides written notice of non-renewal at least sixty (60) days prior to the end of the then-current term. Organization may also terminate this Agreement for convenience upon ninety (90) days written notice and payment of any unpaid fees remaining in the term of the Agreement. Cancellation for convenience shall require additional confirmation from a member of the Kappa Sigma Fraternity Headquarters staff. For purposes of this Agreement, “written notice” includes an email sent by a Chapter Officer and receipt confirmation by GCM or a letter sent via the United States Postal Service.

The failure of any party at any time to require performance of any provision or to resort to any remedy provided under this Agreement shall in no way affect the right of that party to require performance or to resort to a remedy at any time thereafter, nor shall the waiver by any party of a breach be deemed to be a waiver of any subsequent breach. A waiver shall not be effective unless it is in writing and signed by the party against whom the waiver is being enforced.

Any notice or other communication to GCM shall be made in writing.

This Agreement shall be governed by and construed in accordance with the laws of the State of Maryland.

The invalidity or unenforceability of any provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

This Agreement is the complete Agreement. It may only be modified by a writing signed by both Parties.