Transactional Funding – Terms of Service

Effective Date: April 2, 2025

Last Updated: April 2, 2025

A. OVERVIEW

REI Workplace, LLC (“REI Workplace”) facilitates access to transactional funding through its network of third-party affiliates and partner entities (collectively, “Affiliates”). REI Workplace itself does not directly fund transactions; rather, it connects borrowers with Affiliates who may provide funding at their sole discretion.

By using REI Workplace’s membership or funding services, you acknowledge and agree to the following terms, conditions, and disclosures.

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B. FUNDING OPTIONS

Option 1: Membership Plan

Cost: Monthly: $300 OR Yearly: $2,500

Funding Fees (per deal):

$0–$150,000: $500

$150,001–$250,000: $1,000

$250,001–$350,000: $1,500

$350,001–$450,000: $2,000

$450,001+: Case-by-case

Wire Fee: $30 (50% of $60)

Document Prep: $75 (50% of $150)

Admin Fee: $37.50 (50% of $75)

Deposit (per deal): $50

Ideal For: Wholesalers doing multiple deals, lower per-transaction costs, waived add-on fees

Key Benefits: Stable budgeting with monthly/yearly fees, reduced wire/doc/admin costs (50% off)

Option 2: Pay-As-You-Go

Cost: No monthly or annual fee

Funding Fees (per deal): Minimum: $600 OR 1 point (1% = 0.01) of the funded amount (whichever is higher)

Wire Fee: $60

Document Prep: $150

Admin Fee: $75

Deposit (per deal): $100

Ideal For: Occasional closers, pay-per-deal approach, no recurring membership cost

Key Benefits: Only pay when you close, flexible if you do fewer deals, no membership commitment

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C. MEMBERSHIP PLAN – KEY TERMS

1. Minimum 6-Month Commitment

- You agree to maintain your Membership Plan for at least 6 months, starting from the date you make your first monthly payment.

- Cancellation Within 6 Months:

- If you choose to cancel before 6 months have elapsed, your membership and related services will officially end only upon the completion of the 6th month from your start date.

- You remain obligated to pay the monthly membership fee for each of the 6 months, regardless of any earlier notice of cancellation.

- Written Cancellation Required:

- All cancellation requests must be emailed to [email protected].

- Your monthly payments will continue to be charged until the end of the 6-month term, after which the membership will fully terminate.

2. Non-Transferable

- Membership applies only to the individual or entity named on the membership.

- If the signing borrower differs from the membership account, the deal defaults to Pay-As-You-Go fees.

3. Monthly Payments & Suspension

- Monthly fees must be paid on time.

- If a payment is late or behind for any reason, REI Workplace, LLC and/or its Affiliates are under no obligation to facilitate or proceed with any new or pending fundings until the account is made fully current, including all late fees, interest, or other charges that may apply.

- Late or missed payments may also result in a shift to Pay-As-You-Go rates until the account is current.

4. No Mentorship Services

- Membership fees cover reduced funding costs only; they do not include coaching, mentorship, or advisory services.

5. Credit Card Convenience Fee

- By enrolling in the Membership Plan or paying any fees via credit card, you acknowledge and agree that a credit card convenience fee will be charged to your card on file for each payment transaction.

- You are solely responsible for paying this convenience fee, in addition to the monthly membership fee, deposit fees, or any other charges.

6. Automatic Fee Adjustments & Opt-Out

- Right to Adjust Fees: REI Workplace reserves the right to adjust membership fees at any time. If fees change during your subscription term, you will be notified at least 30 days before the new fee takes effect (“Effective Date”).

- Opt-Out Policy: If you do not agree to the new rate, you may cancel your subscription without penalty before the Effective Date. However, if you are still within your 6-month minimum commitment, you remain subject to that obligation.

- Continued Use: If you do not cancel before the Effective Date, you agree to the new membership fee, which will be billed accordingly.

- Annual Pre-Paid Subscriptions: If you have pre-paid for an annual subscription, you may continue using services at the original rate until the Effective Date. From that date onward, the new fee structure applies, unless otherwise stated or agreed upon in writing.

- No Retroactive Refunds: Unless otherwise stipulated, no retroactive refunds will be issued for any period in which the original rate applied.

7. Termination of Membership

- Grounds for Termination: REI Workplace, LLC may terminate your membership at any time, with or without notice, if you:

1. Violate or fail to abide by any terms or conditions set forth in this document or any related policies.

2. Engage in fraudulent, deceptive, or unlawful conduct in connection with your membership or any funded transaction.

3. Provide incomplete, false, or misleading information to REI Workplace, LLC or any Affiliate.

4. Fail to submit required documents or comply with underwriting requests in a timely and honest manner.

5. Misuse or abuse your membership privileges, including but not limited to frequent missed payments.

6. Post or publish any negative, disparaging, or false statements (including on social media or public forums) about REI Workplace, LLC, 7 Bridge Funding, LLC, or their respective Affiliates, officers, employees, or agents.

7. Otherwise act in a manner deemed by REI Workplace, LLC to be harmful or disruptive to its interests, business operations, or Affiliates.

- No Refund of Fees: In the event your membership is terminated under any of the above conditions, you are not entitled to any refund of fees paid to date (including but not limited to membership fees, deposits, or other service-related charges).

- Immediate Effect: Termination is effective immediately upon REI Workplace, LLC providing notice, if such notice is deemed necessary.

- Future Eligibility: Once terminated, you may be barred from re-enrolling in any membership plan or accessing other services provided by REI Workplace, LLC.

- Additional Remedies: REI Workplace, LLC reserves the right to pursue any legal remedies available for damages or losses resulting from non-compliance with these terms, including but not limited to defamation or disparagement claims.

8. Default & Remedies

- Attempted Circumvention of 6-Month Minimum

1. If a Member subscribes to the Membership Plan, obtains or attempts to obtain funding, and subsequently refuses or fails to pay the remaining monthly installments due during the 6-month minimum commitment, such conduct shall constitute a material breach of this Agreement.

2. REI Workplace, LLC may pursue all legal and equitable remedies available, including but not limited to:

- Collection of Unpaid Fees: Recovery of any outstanding monthly fees owed for the remainder of the 6-month term.

- Attorney’s Fees & Costs: Recovery of reasonable attorney’s fees, court costs, and any expenses incurred to enforce these terms or collect unpaid amounts.

- Interest & Late Charges: Assessment of interest or late charges on all unpaid amounts at the maximum rate allowable by law until the overdue sums are paid in full.

3. The Member acknowledges that any cancellation attempt before the 6-month term without paying the full amount of monthly fees is a breach that justifies these legal and financial remedies.

- Jurisdiction & Venue

- The Member consents to personal jurisdiction in Tarrant County, Texas and agrees that any disputes under this Agreement shall be brought exclusively in the state or federal courts of Tarrant County, Texas.

- The Member waives any objection to venue or forum non conveniens in these courts.

- No Waiver of Rights

- Failure by REI Workplace, LLC to promptly exercise any right or remedy shall not constitute a waiver of that right or remedy. All rights and remedies under this Agreement are cumulative and non-exclusive.

9. 30-Day Cancellation Notice, Automatic Renewals & No Refunds

- Ongoing Billing: Member agrees their credit card on file will be continuously charged for monthly or annual fees, as applicable.

- 30-Day Written Notice:

1. After fulfilling the 6-month minimum (or annual subscription), you must provide at least 30 days’ written notice of cancellation by emailing [email protected].

2. Your credit card will be charged for that final 30-day period, and the Membership Plan will terminate at the end of those 30 days.

3. No refunds will be issued for any past charges already processed.

- Annual Renewal:

1. If you are on an annual plan, you agree and understand that your credit card may be charged automatically for renewal one year from the start date unless you provide written notice of cancellation before the renewal date.

- Acceptance of Future Changes:

1. It is your responsibility to review these Terms & Conditions periodically.

2. By continuing to use REI Workplace, LLC’s services after any modifications to these Terms & Conditions, you agree to be bound by such changes.

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D. ROLE OF REI WORKPLACE & AFFILIATES

1. Facilitation, Not Direct Lending

- REI Workplace is an umbrella organization providing access to funding through its network of Affiliates.

- Affiliates independently underwrite and approve or deny funding requests.

2. No Guarantee of Funding

- Submitting a membership fee or funding request does not guarantee approval.

- Each deal is assessed on its own merits by the Affiliate.

3. Financial Interest in Successful Closings

- REI Workplace, LLC may have a financial interest in successfully closed transactions.

4. Affiliated Ownership Disclosure

- 7 Bridge Funding, LLC and REI Workplace, LLC share affiliated ownership but operate separately on each entity’s behalf.

- This affiliation does not guarantee approval or preferential terms; all underwriting is conducted independently at the Affiliate’s discretion.

5. Verification & Information Requests

- Affiliates may require additional documentation, including proof that the closing/title company is legitimate.

- The borrower must comply with all requests for information in a timely manner.

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E. FUNDING PROCESS & OPERATIONAL EXPECTATIONS

1. Double-Closing Requirement

- Transactional funding is typically used for double closings. Each Affiliate may require evidence that an A-to-B and B-to-C transaction is prepared to close consecutively.

2. Title/Closing Verification

- The borrower must ensure a legitimate, licensed title or closing agent is handling both sides of the transaction. Affiliates may require proof or direct communication with the title or closing company to confirm legitimacy.

3. Documentation & Disclosures

- All required documents (e.g., purchase contracts, assignment agreements, closing statements) must be submitted accurately and in a timely manner. Failure to provide documents on time may delay or cancel funding.

4. Timing of Funding Wires

- While Affiliates endeavor to wire funds promptly, wires are typically processed only on business days within standard banking hours.

- Borrowers are responsible for coordinating closings to allow sufficient time for funds to arrive.

5. No Blind Funding

- Affiliates generally will not wire funds without proper verification of the title company, the transaction structure, and the end-buyer’s readiness.

- Any request lacking sufficient detail may be refused or delayed until compliance is satisfied.

6. Back-End Buyer Requirements

- Borrowers must demonstrate a valid, financially capable back-end buyer (the B-to-C side of the transaction). If the end-buyer’s funding is not verified, the Affiliate may reject or postpone the transaction.

7. Non-Refundable Deposits

- Any deposit or fee paid to initiate the funding process (e.g., \$50 for Membership Plan, \$100 for Pay-As-You-Go) is non-refundable once due diligence or document review has begun.

8. Post-Approval Changes Fee

- Any changes made after the Affiliate (lender) has submitted final numbers to the title company will incur a \$150 fee per change. This includes last-minute adjustments to the purchase price, fees, or closing date.

- Substantial or repeated changes may require new underwriting and could delay or jeopardize the closing.

9. 48-Hour Approval Requirement

- All agreed-upon terms for the A-B transaction (including purchase price, fees, and closing details) must be finalized and approved at least 48 hours prior to closing.

- Failure to provide final terms within this timeframe may result in a delayed closing or additional \$150 change fees, as the Affiliate and title company need this time to accurately determine loan amounts.

10. Required Signatures Before Wire

- Buyer funds and all closing documents for both the A-B and B-C transactions (including the promissory note) must be signed before the wire is initiated.

- The borrower is responsible for ensuring all parties sign promptly to avoid delays.

11. Scheduling Closings

- It is recommended to schedule closings in the morning to ensure the wire cutoff deadline can be met on the same business day.

- Closings scheduled for late in the afternoon risk missing the same-day wire window, causing potential delays.

12. Fridays and Mondays

- Fridays and Mondays can be problematic due to higher transaction volumes and potential bank delays.

- If funds are not returned in the agreed-upon timeframe, additional fees may apply (e.g., per-diem interest or re-wiring fees).

13. Rescheduling & Cancellations

- If a closing must be rescheduled or canceled, you agree to notify both REI Workplace and the Affiliate immediately.

- It is the borrower’s responsibility to update the lender and all appropriate parties if the closing date changes. Failure to do so may result in funding being canceled and forfeiture of the deposit.

- Repeated cancellations or reschedules may incur additional fees or lead to future funding refusals.

14. Borrower’s Duty to Verify Third Parties

- The borrower is responsible for verifying the legitimacy and performance of all third parties (e.g., buyers, sellers, attorneys, title companies). REI Workplace and its Affiliates are not liable for any third-party misrepresentation or fraud.

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F. ADDITIONAL Q&A-BASED TERMS

1. Do You Fund Outside of My State?

- Yes, generally available in most states with a legitimate, licensed title or closing agent. Some states or property types may have additional requirements.

2. What If the B-to-C Buyer Fails to Close?

- Transactional funding depends on a valid end-buyer. If the B-to-C buyer fails to perform, the A-to-B transaction may not be funded. Any fees or deposits already paid remain the borrower’s responsibility.

3. Is There a Limit on the Number of Deals per Month?

- Typically no set cap, but each request is independently underwritten. Frequent, successful past performance may expedite future approvals.

4. Can I Use My Own Title Company?

- Yes, as long as it is reputable, licensed, and meets Affiliate requirements. The Affiliate may require direct contact with the title company for verification.

5. What Happens if I Need to Change the Closing Date Last-Minute?

- Changing the closing date after final approval may trigger the \$150 Post-Approval Changes Fee. Additional underwriting or re-verification could further delay closing.

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G. DISCLAIMERS & LIABILITY LIMITS

1. Right of Refusal

- REI Workplace and its Affiliates reserve the right to deny or withdraw any funding request at their sole discretion.

2. No Liability for Funding Denial

- REI Workplace and its Affiliates are not liable if a transaction fails to close due to borrower, title company, backside buyer non-compliance, or any other reason.

3. Waiver of Lawsuits

- By using these services, you agree not to pursue legal action against REI Workplace, LLC or its Affiliates for any denied or delayed funding.

4. No Warranty / Not an Offer of Credit

- All outlines, rates, and terms are for informational purposes only and do not constitute a formal commitment to lend.

- Final approvals are subject to underwriting by Affiliates.

5. Limitation of Damages

- In no event shall REI Workplace, LLC or its Affiliates be liable for direct, indirect, incidental, or consequential damages arising from denied funding or delayed closings.

6. Indemnification

- You agree to indemnify and hold harmless REI Workplace, LLC, 7 Bridge Funding, LLC, and their Affiliates from any losses, claims, damages, or liabilities arising from any third-party disputes, including those involving title companies, end-buyers, or other intermediaries.

7. Severability

- If any provision of these Terms & Conditions is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect, and the invalid or unenforceable provision shall be deemed modified so that it is valid and enforceable to the maximum extent permitted by law.

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H. ACCEPTANCE OF TERMS

By enrolling in a Membership Plan or requesting transactional funding through REI Workplace, LLC:

1. You acknowledge you have read, understood, and agreed to all terms and disclaimers stated herein.

2. You affirm that these terms are reasonable and fair, and that you waive any right to legal recourse pertaining to funding denials, cancellations, or failures to close.

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Have Questions?

- Check our FAQ for quick answers.

- If you need further assistance, email us at [email protected] or call +1 972-640-5649.

Thank you for choosing REI Workplace, LLC for your transactional funding needs!