Terms of Business for Holding Client Rent Deposits

This document outlines the terms and conditions under which Fusrol ("the Company") agrees to hold rent deposits on behalf of clients ("the Client") in accordance with applicable laws and regulations in the United States. By engaging the Company's services, the Client agrees to abide by these terms.

Rent deposit account:

A separate bank account designated for holding rent deposits.

Rent Deposit:

Funds provided by the Client to be held in rent deposit account as security for rental obligations.

Client:

The individual or entity providing the rent deposit.

Beneficiary:

The party entitled to receive the rent deposit under specific conditions (e.g., landlord or property manager).

The Company agrees to:

• Establish and maintain a dedicated rent deposit account for holding rent deposits.
• Safeguard the rent deposit in compliance with federal and state laws.
• Release the rent deposit only under the conditions agreed upon by the Client and the Beneficiary or as required by law.
• Provide periodic statements or updates regarding the status of the rent deposit account upon request.

The Client agrees to:

• Provide accurate and complete information regarding the rent deposit, including the amount, purpose, and parties involved.
• Notify the Company of any disputes or changes related to the rent deposit promptly.
• Pay any applicable fees for rent deposit account services as outlined in Section 7.

The rent deposit will be released from the rent deposit account under the following conditions:

• Upon mutual written agreement between the Client and the Beneficiary.
• Upon receipt of a court order or legal directive.
• At the termination of the lease agreement, provided all conditions for release are met.

The Company is not responsible for disputes between the Client and the Beneficiary regarding the release of funds.

• Any interest earned on the rent deposit held in rent deposit account will be handled in accordance with state laws.
• If required by law, interest will be paid to the appropriate party (e.g., the Client or the Beneficiary).

• The Company charges a fee for rent deposit account services, which will be disclosed to the Client prior to the establishment of the rent deposit account.
• Fees may include setup fees, maintenance fees, and transaction fees.
• All fees are non-refundable unless otherwise stated.

• The Company acts as a neutral third party and is not liable for disputes between the Client and the Beneficiary.
• The Company is not responsible for any losses arising from fraudulent activity, provided the Company has acted in good faith.
• The Company is not liable for any delays in the release of funds caused by circumstances beyond its control, including but not limited to bank processing times or legal disputes.

• The Company may terminate rent deposit account services upon written notice to the Client if the Client breaches these terms or fails to pay applicable fees.
• Upon termination, the Company will release the rent deposit in accordance with the agreed-upon conditions or as required by law.

By engaging the Company's rent deposit account services, the Client acknowledges that they have read, understood, and agreed to these terms of business.