User Agreement for Metro 2® Software and Data Reporting Services
This User Agreement (“Agreement”) is entered into by and between [Your Company Name] (“Service Provider,” “we,” or “us”) and the undersigned party (“Client,” “you,” or “Data Furnisher”). This Agreement governs your use of our Metro 2® software and related data reporting services (the “Services”).
By using the Services, you acknowledge that you have read, understand, and agree to be bound by this Agreement. If you do not agree, you may not use the Services.
1. Definitions
1.1 Subscriber Code
A unique identifier assigned by credit bureaus (including, but not limited to, Experian, Equifax, and TransUnion) to recognize a business as a data furnisher.
1.2 Metro 2® Software
Our proprietary software designed to transform consumer data into the Metro 2® format for submission to credit bureaus.
1.3 Aggregator Model
A reporting structure in which uses its own Subscriber Code to report data provided by multiple clients.
1.4 Direct Furnisher Model
A reporting structure in which the Client utilizes its own Subscriber Code to report data via the Services.
2. Scope of Services
2.1 Metro 2® Software
We provide software to format your consumer data into the Metro 2® standard for subsequent submission to credit bureaus.
2.2 Data Reporting
Depending on your chosen model:
• Aggregator Model: We will report your data to the credit bureaus under our Subscriber Code.
• Direct Furnisher Model: We will transmit your data to credit bureaus using the Subscriber Code(s) you provide.
2.3 Non-Legal Advice
You understand and agree that we are not a law firm or compliance consultancy. Any information provided by us regarding credit reporting requirements is for general guidance only and does not constitute legal advice.
3. Client Responsibilities
3.1 Data Integrity
You represent and warrant that:
• All data you provide is accurate, complete, and lawful to report under applicable consumer reporting laws (including, but not limited to, the Fair Credit Reporting Act (“FCRA”) and the Fair and Accurate Credit Transactions Act (“FACTA”)).
• You have obtained any necessary consents or authorizations from consumers whose data you are reporting.
3.2 Compliance with Laws
You agree to:
• Comply with all federal, state, and local laws, rules, and regulations related to consumer credit reporting.
• Properly handle consumer disputes, reinvestigations, corrections, or inquiries in accordance with FCRA, FACTA, and other applicable statutes.
• Notify us promptly of any dispute or change in account status that would require updating previously reported data.
3.3 Secure Uploads
You are responsible for:
• Using only the secure file transfer methods we designate.
• Maintaining the confidentiality of your login credentials.
• Notifying us immediately if you suspect any unauthorized access to your account or data.
3.4 Own Bureau Relationships (if using the Direct Furnisher Model)
If you use your own Subscriber Code, you must maintain an active bureau relationship with each credit bureau to which data is transmitted. You must follow each bureau’s specific procedures for data submission and dispute resolution.
4. Service Provider Responsibilities
4.1 Data Transmission
We will use commercially reasonable efforts to format and transmit your data to the designated credit bureaus in the Metro 2® format.
4.2 Compliance Support
We may provide tools, resources, or general guidance to help you understand Metro 2® standards. However, you are solely responsible for ensuring that the data you furnish (and any associated reporting processes) comply with all legal requirements.
4.3 Data Security
• We employ industry-standard security measures to protect data during transfer and storage.
• We are not liable for breaches caused by third parties, force majeure events, or your own negligence (e.g., sharing passwords or failing to safeguard credentials).
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5. Aggregator Model: Additional Terms
If you opt to report under our Subscriber Code:
5.1 Data Furnishing Authorization
You explicitly authorize us to furnish your data to credit bureaus on your behalf under our Subscriber Code.
5.2 Liability for Data
You remain solely responsible for the accuracy and lawfulness of the data. You agree to indemnify and hold us harmless from any claims, penalties, or damages arising from inaccurate or unlawful reporting.
5.3 Dispute Handling
• You must promptly inform us of any consumer disputes or inquiries regarding data we have reported for you.
• We will reasonably cooperate in relaying disputes to the credit bureaus and facilitating updates or corrections as required by law.
5.4 Termination by Bureaus
If a credit bureau suspends or terminates our Subscriber Code privileges due to issues with your data (e.g., repeated inaccuracies), we may terminate this Agreement immediately. You agree to indemnify us for any losses or liabilities arising from such suspension or termination.
6. Direct Furnisher Model: Additional Terms
If you report using your own Subscriber Code:
6.1 Bureau Relationships
You are responsible for establishing and maintaining valid agreements with each relevant credit bureau and ensuring that your Subscriber Code remains active and in good standing.
6.2 Compliance and Reporting
• You shall follow each bureau’s guidelines for data acceptance, dispute resolution, and updates.
• We do not guarantee that the bureaus will accept or process your data without errors or delays.
6.3 Independence
Our role is limited to providing data formatting and transmission services. All compliance obligations, including the resolution of consumer disputes, remain with you.
7. Payment Terms
7.1 Fees
• Fees for the Services are outlined in your subscription plan or order form.
• All fees are non-refundable unless otherwise specified in a separate written agreement.
7.2 Payment Schedule
• Failure to pay may result in suspension or termination of your access to the Services.
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8. Liability Limitations
8.1 Disclaimer
We do not guarantee acceptance of data by any credit bureau or the accuracy of any data provided by you. We make no warranties, express or implied, regarding the Services, and disclaim all implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
8.2 Indemnification
You agree to defend, indemnify, and hold us harmless from and against any and all claims, losses, liabilities, or damages (including reasonable attorneys’ fees) arising out of or related to:
• Your breach of this Agreement.
• Inaccurate, incomplete, or unlawful data you provide.
• Your violation of any consumer reporting laws.
8.3 Limitation of Liability
To the fullest extent permitted by law, our total liability under this Agreement shall not exceed the total amount of fees you paid for the Services in the 12 months preceding the event giving rise to the claim. We are not liable for any indirect, incidental, special, or consequential damages, including but not limited to lost profits or business interruption.
9. Termination
9.1 Termination by Client
You may terminate this Agreement by providing 30 days’ written notice to us. No refunds will be issued for any fees already paid unless otherwise stated in a separate written agreement.
9.2 Termination by Service Provider
We may terminate this Agreement or suspend Services immediately if you:
• Fail to pay fees.
• Provide inaccurate or unlawful data.
• Breach any provision of this Agreement or violate applicable credit reporting laws.
9.3 Effect of Termination
Upon termination, you must:
• Cease all use of the Services.
• Address any outstanding consumer disputes or data corrections for which you are responsible.
10. Governing Law and Venue
This Agreement is governed by the laws of the State of [Insert State], without regard to its conflict of law principles. Any disputes shall be resolved exclusively in the state or federal courts located in [Insert Jurisdiction]. You consent to personal jurisdiction in these courts.
11. Miscellaneous
11.1 Amendments
We may update or amend this Agreement at any time by providing written notice or electronic communication. Your continued use of the Services after changes are posted constitutes acceptance of the revised terms.
11.2 Entire Agreement
This Agreement (together with any subscription plan or order form) constitutes the entire understanding between the parties, superseding all prior discussions, representations, or agreements.
11.3 Severability
If any part of this Agreement is found unenforceable, the remainder shall remain valid and enforceable to the fullest extent permitted by law.
11.4 No Third-Party Beneficiaries
Nothing in this Agreement is intended to create any third-party beneficiary rights.
11.5 Electronic Consent
By clicking “Agree,” signing electronically, or otherwise using the Services, you acknowledge that this Agreement constitutes a legally binding contract.
Acknowledgment and Agreement
By signing below or electronically consenting, you agree to the terms of this Agreement.
Client Name:
Authorized Representative:
Signature:
Date:
[Your Company Name]
[Signature / Authorized Representative]
Date:
Disclaimer: This template is provided for informational purposes and does not constitute legal advice. Consult with an attorney to tailor this agreement to your specific business needs and to ensure compliance with applicable laws and regulations.