knnct Guarantee

Terms and Conditions

Please note: These knnct Guarantee Terms contain an arbitration clause and class action waiver that applies to all knnct Members. If you reside in the United States, this provision applies to all disputes with knnct. If you reside outside of the United States, this provision applies to any action you bring against knnct in the United States. It affects how disputes with knnct are resolved. By accepting these knnct Guarantee Terms, you agree to be bound by this arbitration clause and class action waiver. Please read it carefully.

Please read these Knnct Guarantee Terms carefully as they contain important information about your legal rights, remedies and obligations. By posting a Listing or otherwise using the knnct Platform as a Knnct, you agree to comply with and be bound by these knnct Guarantee Terms.

Last Updated: June 15, 2021

Members may benefit from the knnct Guarantee program (the “knnct Guarantee”), which is subject to these terms and conditions (the “knnct Guarantee Terms”). The knnct Guarantee Terms apply in addition to knnct’s Terms and Conditions (“knnct Terms and Conditions”), knnct’s Service Agreement  (“Service Agreement“)and the Payment Terms of Service (“Payment Terms“).

All capitalized terms shall have the meaning set forth in the knnct Terms and Conditions, Service Agreement or Payment Terms, unless otherwise defined in these knnct Guarantee Terms. If you agree to these knnct Guarantee Terms on behalf of a company or other legal entity, you represent and warrant that you have the authority to bind that company or other legal entity to these knnct Guarantee Terms and, in such event, “you” and “your” will refer and apply to that company or other legal entity.

Except as permitted by law, these knnct Guarantee Terms do not affect your statutory rights. If you would like a written copy of the knnct Guarantee Terms, please email us.

I. The Knnct Guarantee

knnct agrees to pay you, as a Member, an amount equal to the amount that you paid as a fee for an annual subscription (“annual subscription fee”) to knnct in the event that you fail receive an amount in fees, interest payments or other payments generated through deals attributable to your subscription to the knnct App or knnct Platform equal to 100% of the annual subscription fee paid by you during the time period relating to the annual subscription, subject to the limitations, exclusions and conditions in the knnct Guarantee Terms.  To the extent that a Member has free access to the Service and does not pay an annual subscription fee or that Member is paying a Mortgage Origination Connection Fee, the knnct Guarantee Terms do NOT apply to you.

You must comply with all of the requirements and conditions in these knnct Guarantee Terms in order to be eligible to receive any payments for Guaranteed Refunds. Your failure to fully comply will prevent your recovery for any Guaranteed Refunds. Please carefully review the definitions of “Guaranteed Refunds” below.

II. Key Defined Terms

The following capitalized terms shall have the following meanings:

“knnct Guarantee Payment Request Form” means knnct’s standard form as amended from time to time, accessible through the Resolution Center or by contacting customer service directly, that a Member uses to request payment from knnct pursuant to these knnct Guarantee Terms.

“Guaranteed Refunds” means and is limited to the annual subscription fee paid by a Member. 

III. Limitations and Exclusions

The knnct Guarantee pays Guaranteed Refunds only and does not pay for any of the following (“Excluded Losses”):

1. any losses caused or expenses incurred by a Member relating to any potential mortgage transaction.
2. any losses, damages, cost or expense of whatsoever nature, directly or indirectly, caused by, relating to or resulting from contacting another Member, due diligence, closing or any other part of a potential mortgage transaction.
3. any losses, damages, cost or expense of whatsoever nature, directly or indirectly, caused by or resulting from any of the following, regardless of any other cause or event contributing thereto:
   1. any act of war, terrorism, insurrection or rebellion;
   2. actual or threatened malicious use of poisonous biological or chemical materials;
   3. nuclear reaction or radiation or radioactive contamination;
   4. seizure or destruction under quarantine or custom regulation, or confiscation by order of any governmental or public authority; or
   5. any dishonest act, including but not limited to theft, committed by you or any persons or entities retained by you to do anything in connection with a potential mortgage transaction or Invitee and such act is done without your knowledge.
4. Costs arising out of the loss of, loss of use of, damage to, corruption of, inability to access, or inability to manipulate, any and all Electronic Data will not be paid. “Electronic Data” means information, facts or programs, stored as or on, created or used on, or transmitted to or from any Electronic Media. “Electronic Media” means computer software, including systems and applications software, hard or floppy disks, CDROMS, tapes, drives, cells, data processing devices or any other media which are used with, electronically controlled equipment.

IV. Conditions to the knnct Guarantee

In order to be eligible to obtain payment under these Knnct Guarantee Terms, you must fully comply with each of the following conditions. Your failure to fully comply will prevent your recovery of any Guaranteed Refunds. In all cases, the onus will be upon you to demonstrate that you have complied with the following conditions.

You must be entitled to and have incurred Guaranteed Refunds.

You must have participated or used reasonable efforts to participate in the knnct App and paid the annual subscription fee by: 

1. if you are a Lender using the knnct Platform for mortgage origination, by providing the knnct App or knnct App with your lending criteria and having reviewed and made offers every month of not less than 10 potential transactions that meet your specific lending criteria as submitted by you on the knnct Platform during the 12 month period of your subscription; and 
2. if you are a Broker or Agent, by submitting and posting on the knnct App or knnct Platform not less than 5 potential mortgage deals requiring a mortgage every month during the 12-month period of your subscription. 

V. Disposition of knnct Payment Requests

knnct Guarantee Payment Request Form

knnct will complete its processing of any knnct Guarantee Payment Request Form that you file within a reasonable period following the date you have (a) completed and filed an Knnct Guarantee Payment Request Form, and (b) provided knnct with all information and materials that you are required to provide to comply with the conditions set forth in “Conditions to the knnct Guarantee” above. In any event, we will use commercially reasonable efforts to complete processing of your knnct Guarantee Payment Request Form within three (3) months after our receipt of such documents and information

Approved Payment Request

If you have filed a knnct Guarantee Payment Request Form (an “Approved Payment Request”), you will be paid the amount of the Guaranteed Refund as calculated by knnct or its designees. You will be notified by knnct and, as a condition of payment hereunder, you will be required to deliver to knnct an executed Approved Payment Request Agreement. knnct may use third party service providers to assist in the processing of the knnct Guarantee Payment Request Forms.

VI. Acknowledgments and Agreements by knnct

By your use of the knnct Platform, you acknowledge and agree that:

• The knnct Guarantee is a guarantee of obligations by knnct that you, to the extent that you have paid the annual subscription fee, will receive amounts an amount in fees, interest payments or other payments through your participation in and subscription to the knnct App or knnct Platform equal to 100% of the annual subscription cost and is dependent upon you pursuing any rights and remedies you may have to recover amounts paid by knnct to you with respect to an Approved Payment Request.  For the sake of clarity, if your annual subscription was $2,000, you will receive $2,000 if you qualify for the knnct Guarantee.
• knnct provides Members with the knnct Guarantee benefits described herein solely for the purpose of promoting use of the knnct Platform by building customer loyalty and strengthening customer confidence as to use of the knnct Platform.
• The benefits provided under these knnct Guarantee Terms are solely as set forth in the paragraph entitled “knnct Guarantee” above and such benefits are not assignable or transferable by you, including without limitation any transfer or assignment by operation of law or in connection with your divorce or death.

You acknowledge and agree that if you make a claim under this knnct Guarantee, you give knnct consent to review your account with respect to the relevant time period including all your activities on the knnct App and any properties submitted or searches made, as the case may be, and all communications between you and other Members via the knnct Platform and that knnct has the right to audit your activities, accounts and your files (including computers and other portable devices) to ensure the integrity of any claim for a payment under the knnct Guarantee.

VII. Modification or Termination of knnct Guarantee Terms

To the extent permissible by applicable law in your jurisdiction, knnct reserves the right to modify or terminate these knnct Guarantee Terms, at any time, in its sole discretion.

If knnct terminates these knnct Guarantee Terms, knnct will provide you with notice by email at least thirty (30) days before such termination and knnct will continue to process all knnct Guarantee Payment Request Forms that you filed prior to the effective date of termination, but your right to file any new knnct Guarantee Payment Request Forms will immediately terminate.

If knnct modifies these Knnct Guarantee Terms, we will post the modification on the knnct Platform at https://www.knnct.com/guarantee. knnct will continue to process all knnct Guarantee Payment Request Forms that you filed prior to the effective date of the modification.

VIII. Disclaimers and Limitations of Liability

If you choose to use the knnct Platform as a Member, you do so at your sole risk. The knnct Guarantee is provided “as is”, without warranty of any kind, either express or implied.

You acknowledge and agree that, to the maximum extent permitted by law, the entire risk arising out of your access to and use of the Knnct Platform, and your use of the knnct Platform whether to post a Mortgage Deal or review a Mortgage Deal and make an Offer remains with you. Neither knnct nor any other party involved in creating, producing, or delivering the knnct Platform will be liable for any incidental, special, exemplary or consequential damages, including lost profits, loss of data or loss of goodwill, service interruption, computer damage or system failure, or for any damages for (1) personal or bodily injury or emotional distress arising out of or in connection with these knnct Guarantee terms, (2) from the use of or inability to use the knnct Platform, (3) from any communications, interactions or meetings with other users or Members of the knnct Platform or other persons with whom you communicate or interact as a result of your use of the knnct Platform, or (4) from your listing of any Mortgage Deal or providing an Offer on a Mortgage Deal via the knnct Platform. knnct will not be liable for any such damages described above, whether based on warranty, contract, tort (including negligence), product liability or any other legal theory, and whether knnct has been informed of the possibility of such damage, even if a limited remedy set forth herein is found to have failed of its essential purpose.

Except for knnct’s obligation to pay amounts to you pursuant to an Approved Payment Request under these knnct Guarantee Terms, in no event will knnct’s aggregate liability arising out of or in connection with (a) these knnct Guarantee Terms; (b) your use of or inability to use the knnct Platform including, but not limited to, posting a Mortgage Deal for a Property requiring a mortgage or searching for a Mortgage Deal and Properties to provide a loan for or failing to consummate a mortgage transaction for any reason whatsoever and (c) your interactions with any other Members, exceed the amounts paid by knnct to you in the twelve (12) month period prior to the event giving rise to the liability, or one hundred dollars ($100), if no such payments have been made, as applicable. 

The limitations of damages set forth above are fundamental elements of the basis of the bargain between knnct and you. Some jurisdictions do not allow the exclusion for certain limitations of liability, so the above limitations may not apply to you. If you reside outside of the U.S., this does not affect knnct’s liability for death or personal injury arising from its negligence, nor for fraudulent misrepresentation, misrepresentation as to a fundamental matter or any other liability which cannot be excluded or limited under applicable law.

IX. Dispute Resolution and Arbitration Agreement

1. This Dispute Resolution and Arbitration Agreement shall apply if you (i) reside in the United States; or (ii) do not reside in the United States but bring any claim against knnct in the United States (to the extent not in conflict with Section 21 of the knnct Terms and Conditions).
2. Overview of Dispute Resolution Process. knnct is committed to participating in a consumer-friendly dispute resolution process. To that end, these knnct Guarantee Terms provide for a two-part process for individuals to Section X.1 applies: (1) an informal negotiation directly with knnct’s customer service team, and (2) a binding arbitration administered by the American Arbitration Association (“AAA”) using its specially designed Consumer Arbitration Rules (as modified by this Section X). Specifically, the process provides:
   • Claims can be filed with AAA online (www.adr.org);
   • Arbitrators must be neutral, and no party may unilaterally select an arbitrator;
   • Arbitrators must disclose any bias, interest in the result of the arbitration, or relationship with any party;
   • Parties retain the right to seek relief in small claims court for certain claims, at their option;
   • The initial filing fee for the Lender or Broker is capped at $200;
   • The Lender or Broker gets to elect the hearing location and can elect to participate live, by phone, video conference, or, for claims under $25,000, by the submission of documents;
   • The arbitrator can grant any remedy that the parties could have received in court to resolve the party’s individual claim.

1. Pre-Arbitration Dispute Resolution and Notification. Prior to initiating an arbitration, you and knnct each agree to notify the other party of the dispute and attempt to negotiate an informal resolution to it first. We will contact you at the email address you have provided to us; you can contact knnct’s customer service team by emailing us. If after a good faith effort to negotiate one of us feels the dispute has not and cannot be resolved informally, the party intending to pursue arbitration agrees to notify the other party via email prior to initiating the arbitration. In order to initiate arbitration, a claim must be filed with the AAA and the written Demand for Arbitration (available at www.adr.org) provided to the other party, as specified in the AAA Rules.
2. Agreement to Arbitrate. You and knnct mutually agree that any dispute, claim or controversy arising out of or relating to these knnct Guarantee Terms or the breach, termination, enforcement or interpretation thereof, or to the use of the knnct Platform, the Services, or the Collective Content (collectively, “Disputes”) will be settled by binding arbitration (the “Arbitration Agreement”). If there is a dispute about whether this Arbitration Agreement can be enforced or applies to our Dispute, you and knnct agree that the arbitrator will decide that issue.
3. Exceptions to Arbitration Agreement. You and knnct each agree that the following claims are exceptions to the Arbitration Agreement and will be brought in a judicial proceeding in a court of competent jurisdiction: 
   • Any claim related to actual or threatened infringement, misappropriation or violation of a party’s copyrights, trademarks, trade secrets, patents, or other intellectual property rights; and
   • Any claim seeking emergency injunctive relief based on exigent circumstances (e.g., imminent danger or commission of a crime, hacking, cyber-attack).
4. Arbitration Rules and Governing Law. This Arbitration Agreement evidences a transaction in interstate commerce and thus the Federal Arbitration Act governs the interpretation and enforcement of this provision. The arbitration will be administered by AAA in accordance with the Consumer Arbitration Rules (the “AAA Rules“) then in effect, except as modified here. The AAA Rules are available at http://www.adr.org/ or by calling the AAA at 1–800–778–7879.
5. Modification to AAA Rules – Arbitration Hearing/Location. In order to make the arbitration most convenient to you, knnct agrees that any required arbitration hearing may be conducted, at your option, (a) in the county where you reside; (b) in Toronto, Ontario Canada; (c) in any other location to which you and knnct both agree; (d) via phone or video conference; or (e) for any claim or counterclaim under $25,000, by solely the submission of documents to the arbitrator.
6. Modification of AAA Rules – Attorney’s Fees and Costs. You may be entitled to seek an award of attorney fees and expenses if you prevail in arbitration, to the extent provided under applicable law and the AAA rules. Unless the arbitrator determines that your claim was frivolous or filed for the purpose of harassment, knnct agrees it will not seek, and hereby waives all rights it may have under applicable law or the AAA rules, to recover attorneys’ fees and expenses if it prevails in arbitration.
7. Arbitrator’s Decision. The arbitrator’s decision will include the essential findings and conclusions upon which the arbitrator based the award. Judgment on the arbitration award may be entered in any court with proper jurisdiction. The arbitrator may award declaratory or injunctive relief only on an individual basis and only to the extent necessary to provide relief warranted by the claimant’s individual claim.
8. Jury Trial Waiver. You and knnct acknowledge and agree that we are each waiving the right to a trial by jury as to all arbitrable Disputes.
9. No Class Actions or Representative Proceedings. You and knnct acknowledge and agree that we are each waiving the right to participate as a plaintiff or class member in any purported class action lawsuit, class-wide arbitration, private attorney-general action, or any other representative proceeding as to all Disputes. Further, unless you and knnct both otherwise agree in writing, the arbitrator may not consolidate more than one party’s claims and may not otherwise preside over any form of any class or representative proceeding. If this paragraph is held unenforceable with respect to any Dispute, then the entirety of the Arbitration Agreement will be deemed void with respect to such Dispute.
10. Severability. Except as provided in Section IX.11, in the event that any portion of this Arbitration Agreement is deemed illegal or unenforceable, such provision shall be severed and the remainder of the Arbitration Agreement shall be given full force and effect.
11. Changes. Notwithstanding the provisions of Section VII (“Modification or Termination of knnct Guarantee Terms”), if knnct changes this Section X (“Dispute Resolution and Arbitration Agreement”) after the date you last accepted these knnct Guarantee Terms (or accepted any subsequent changes to these knnct Guarantee Terms), you may reject any such change by sending us written notice (including by email) within thirty (30) days of the date such change became effective, as indicated in the “Last Updated” date above or in the date of knnct’s email to you notifying you of such change. By rejecting any change, you are agreeing that you will arbitrate any Dispute between you and knnct in accordance with the provisions of the “Dispute Resolution” section as of the date you last accepted these knnct Guarantee Terms (or accepted any subsequent changes to these knnct Guarantee Terms).
12. Survival. Except as provided in Section IX.12 and subject to Section 15.8 of the knnct Terms and Conditions, this Section IX will survive any termination of these knnct Guarantee Terms and will continue to apply even if you stop using the knnct Platform or terminate your knnct Account.

XI. General Provisions

Indemnification

You agree to release, defend, indemnify, and hold knnct and its affiliates and subsidiaries, and their officers, directors, employees and agents, harmless from and against any claims, liabilities, damages, losses, and expenses, including, without limitation, reasonable legal and accounting fees, arising out of or in any way connected with the knnct Guarantee and these knnct Guarantee Terms.

Entire Agreement

These knnct Guarantee Terms constitute the entire and exclusive understanding and agreement between knnct and you regarding the knnct Guarantee and these knnct Guarantee Terms and supersede and replace any and all prior oral or written understandings or agreements between knnct and you regarding the knnct Guarantee.

Assignment

You may not assign or transfer these knnct Guarantee Terms, by operation of law or otherwise, without knnct’s prior written consent. Any attempt by you to assign or transfer these knnct Guarantee Terms, without such consent, will be null and of no effect. knnct may assign or transfer these knnct Guarantee Terms, at its sole discretion, without restriction. Your right to terminate the Agreement with knnct remains unaffected. Subject to the foregoing, these knnct Guarantee Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.

Notices

Unless specified otherwise, any notices or other communications to Members permitted or required under this Agreement, will be in writing and given by knnct via email, knnct Platform notification, or messaging service (including SMS and WeChat). For notices made to Members residing outside of United States or Canada, the date of receipt will be deemed the date on which knnct transmits the notice.

Controlling Law and Jurisdiction

These knnct Guarantee Terms will be interpreted in accordance with Section 21 of the knnct Terms and Conditions.

Waiver and Severability

The failure of knnct to enforce any right or provision of these knnct Guarantee Terms will not constitute a waiver of future enforcement of that right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of knnct. Except as expressly set forth in these knnct Guarantee Terms, the exercise by either party of any of its remedies under these knnct Guarantee Terms will be without prejudice to its other remedies under these knnct Guarantee Terms or otherwise. If for any reason an arbitrator or a court of competent jurisdiction finds any provision of these knnct Guarantee Terms invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the other provisions of these knnct Guarantee Terms will remain in full force and effect.

XII. Contacting Knnct

If you have any questions about these knnct Guarantee Terms, please email us.