The Rhino Guarantees – Terms and Conditions
FixedLending provides two performance guarantees that hold us accountable for timely service, delivering direct benefits to borrowers who fulfill their obligations and timelines. These Terms and Conditions govern the applicability, limitations, and enforcement of those guarantees and are binding upon any borrower who elects to engage FixedLending’s services.
I. Charging Speed Guarantee
FixedLending guarantees that eligible draw requests will be funded within three (3) full business days from the date of receipt of all required documentation, subject to the conditions outlined below. If FixedLending fails to meet this standard, the borrower will receive a waiver of their next scheduled interest-only payment, up to a maximum of $2,000. This waiver excludes escrow payments, late fees, or principal paydowns.
1. Borrower Responsibilities
To qualify for the Charging Speed Guarantee, the following must occur:
The draw request must be submitted using FixedLending’s required form or portal. All supporting documentation, including but not limited to photographs, invoices, receipts, and video inspections, must be submitted in full and meet FixedLending’s standards. The requested draw must correspond to completed work that aligns with the approved project scope and satisfies FixedLending’s quality requirements. If a third-party inspection is required, it must be completed with a satisfactory result.
2. Timing Parameters
Draw requests received after 3:00 PM Central Standard Time (CST) will be considered submitted at 9:00 AM on the following business day. The three (3) business day timeline commences once all required documentation and inspections have been received and approved by FixedLending. Business days exclude weekends and federally recognized holidays. Wire and ACH transfers are subject to applicable banking deadlines. Funding shall be deemed complete upon FixedLending’s initiation of the wire or ACH transfer. Funding is considered complete when FixedLending initiates the wire or ACH transfer within the 3-business-day window. FixedLending is not responsible for delays in receipt caused by banking systems, weekends, holidays, or third-party financial institutions.
3. Technical Submission Disclaimer
FixedLending shall not be held liable for any delays resulting from failed uploads, technical errors, or unreceived submissions. Borrowers are advised to email their loan manager to confirm receipt of each draw request.
4. Exclusions
The Charging Speed Guarantee shall not apply in the following circumstances:
Incomplete or inaccurate submissions, including missing documentation or delayed inspections. Draw requests that include unapproved change orders. Delays caused by the borrower, contractors, inspectors, or other third parties. Force majeure events including, but not limited to, inclement weather, natural disasters, terrorism, acts of God, or other unforeseen events beyond the reasonable control of FixedLending. Loans that are in default or associated with borrowers who are in default on any FixedLending loan. Draw requests that are delayed, modified, or held at the borrower’s request.
II. Ring the Bell Promise
FixedLending guarantees that eligible loan closings will occur on or before the committed closing date. If FixedLending causes a delay, and none of the exclusions apply, the borrower will receive $250 for each business day that funding is delayed, up to a maximum of $2,000. Payment will be provided as a closing cost credit or post-close wire, at FixedLending’s sole discretion.
1. Borrower Responsibilities
To qualify, the borrower must fulfill the following conditions at least three (3) full business days prior to the scheduled closing date:
Title must be clear and ready to close. All underwriting conditions must be satisfied, including the delivery of a valid insurance certificate and proof of payment. All required borrower documentation must be completed, signed, and submitted. A satisfactory survey must be received, if applicable. The borrower must be responsive and available to coordinate scheduling and address final documentation requests.
It is the borrower’s sole responsibility to ensure that title work and surveys are ordered sufficiently in advance to meet this deadline. The borrower is solely responsible for researching and choosing qualified and timely third party vendors, including those recommended by FixedLending.
2. Exclusions
The Ring the Bell Promise shall not apply in the following circumstances:
Delays related to unresolved title issues, incomplete surveys, payoff errors, or insurance deficiencies. Delays caused by third parties, including but not limited to sellers, wholesalers, title agents, or surveyors. Closings that are rescheduled to an earlier date at the request of the borrower or third parties. Closings that are delayed or held at the request of the borrower. Delays arising from force majeure events, including natural disasters, weather, terrorism, or any other circumstances beyond the reasonable control of FixedLending.
3. Definition of Funding Completion
Funding shall be deemed complete when FixedLending initiates the wire transfer. FixedLending is not responsible for any delay in receipt caused by banking systems, wire cutoffs, weekends, holidays, or the receiving financial institution.
III. General Terms (Applicable to All Guarantees)
Guarantees are void if the borrower is in default on any FixedLending loan. A loan shall be considered in default if any payment is past due, required documentation is outstanding, insurance coverage has lapsed, or any other loan agreement terms have been violated at the time the guarantee would apply.
FixedLending reserves the right to verify full compliance with all requirements prior to honoring any guarantee claim.
Guarantees may be updated, modified, or discontinued at any time with written notice, including by publication to FixedLending’s website or borrower portal. Any loan already in process shall remain subject to the terms in effect as of the date of the initial loan commitment.
Borrowers must submit a written claim to FixedLending within five (5) business days of the missed funding or closing. Claims received after this deadline may be denied.
All determinations, interpretations, and applications of these guarantees shall be made at FixedLending’s sole and reasonable discretion.
IV. Mediation, Arbitration and Governing Law
A. Mediation First
Before taking any legal steps, both parties agree to try resolving any issues related to these guarantees through non-binding mediation, using the American Arbitration Association (AAA) rules. Mediation will take place in Tulsa, Oklahoma, unless both parties agree otherwise.
B. Mediation Process
If a dispute arises, either party can request mediation in writing. A mediator must be chosen within 10 business days, and mediation should begin within 30 business days of the mediator’s appointment. If the parties can’t agree on a mediator, AAA will appoint one. Each party will pay their own costs, and the mediator’s fees will be split evenly, unless otherwise agreed.
C. Participation in Good Faith
Both parties agree to make a genuine effort to resolve the dispute through mediation. What’s said during mediation stays confidential and can’t be used later in legal proceedings.
D. If Mediation Fails
If mediation doesn’t resolve the issue within 60 days or if either party chooses not to participate, the matter may move to binding arbitration as described below. Mediation is not required before seeking urgent legal action to prevent serious harm.
E. Arbitration
If mediation doesn’t resolve the dispute, any disagreements will be settled by binding arbitration through AAA’s Commercial Arbitration Rules in Tulsa, Oklahoma, unless both parties agree otherwise. The arbitration decision is final and can be enforced by any court with authority.
By participating in this program, borrowers waive their right to a jury trial or to be part of a class action related to these guarantees.
V. Continuing Acceptance
By accepting these Terms and Conditions — whether through written acknowledgment, use of FixedLending’s services, submission of a draw request, or execution of a loan agreement — the borrower agrees that these terms shall apply to all current and future loans, draw requests, and closings, unless expressly modified in writing by FixedLending.
These Terms and Conditions are deemed accepted upon first use and shall remain binding for all subsequent transactions, even if not separately acknowledged.