Service Agreement

StormStrong Hurricane Resilience Agreement (template)

 

 

1. This agreement is executed by and between Parachute Insurance Inc., 1509 Waukegan RD #1070 Glenview, IL 60025-2122, herein referred to as “Service Provider”, and 

 

    {{client_name}} 

 

    {{billing_address}} , 

 

herein referred to as the “Client”.

 

2. In consideration of the mutual promises and covenants in this Agreement, of which the receipt and sufficiency are hereby acknowledged, the parties agree to the terms as follows:

 

Services: 

 

3. The Service Provider agrees to the following:

 

3.1. Continuously monitor the Client Location for the proximity of Hurricanes,

 

3.2. Inform the Client when its Hurricane risk has increased significantly,

 

3.3. Pay the Client a Resiliency Money grant when the Client Location has been directly affected by a Hurricane (as per sections 4 and 5).

 

Definitions: 

 

4. The Services described in the previous section 3 are rendered according to the following definitions: 

 

4.1. The Client Location corresponds to the address to be serviced by this contract, which is given below, as per the US Census-designated 2019 ZIP Code Tabulation Area: 

 

{{client_location}}

 

4.2. The Client Position is defined by the geographical coordinates of the Client Location, which is positioned at 

 

Latitude {{latitude_deg_north_4decimals}} degrees North and 

 

Longitude {{longitude_deg_east_4decimals}} degrees East.

 

4.3. The Hurricane Position is given by the path of its center, according to the official location by the U.S. National Hurricane Center within three hours of its estimation.

 

4.4. The Resiliency Money grant will correspond to $ {{payout_usd}} USD 

 

Conditions: 

 

5. For the Resiliency Money payment described in section 3.3, the following conditions need to be fulfilled: 

 

5.1. The Client has subscribed into the “Resiliency by Parachute” network, for the duration of this Service Agreement, by providing the Service Provider with enough information on the Client to render the services, following standard data privacy policies in the industry.

 

5.2. The National Hurricane Center is reporting an active Hurricane on its official website (www.nhc.noaa.gov) and providing real time data on its track.

 

5.3. An Impact Event occurs, namely, Service Provider calculates that the geodesic distance between the Location Position (defined in 4.2) and the reported Hurricane Position (defined in 4.3) is 20 statutory miles or less. 

 

5.4. The Service Provider will notify the Client of the Impact Event using the contact information on its Resiliency by Parachute membership (defined in 5.1).  

 

5.5 The Client will confirm receipt of the notification in 5.4 by replying to electronic mail and provide in the confirmation the account information for receipt of the Resiliency Money.

 

5.6. The Service Provider will initiate a deposit of the Resilience Money grant into the Client’s financial account, within the next 48 hours after all the previous conditions in paragraph 5 are fulfilled. 

 

6. The Client can receive a maximum of one Resiliency Money payment during a Service Period, as per paragraph 9. 

 

7. The Service Provider will provide electronic evidence of its calculations in section 5, upon request to the Client. In case of dispute, resolution will follow the Service Provider’s Dispute Resolution Policy of paragraphs 16 and 17 below.

 

8. The Effective Date, when this agreement will become active, corresponds to 30 days after the Service Provider have received the signed agreement and payment from the Client.

 

9. The Service Period for this agreement will corresponds to

 

            {{start_date_cst}} at 00:01 am Central Standard time

 

            through {{end_date_cst}} at 00:01 am Central Standard time,

 

as per paragraphs 8, 11, 12 and 13. 

 

Pricing:

 

10. If the Client is not a current member of the Resiliency by Parachute network before the Effective Date, the Client agrees to pay the Service Provider a Network Subscription Fee amounting to 

 

$ 10.00 USD per year. 

 

As a one-time promotion, the Service Provider will offer an annual membership fee of 

 

$ 0.00 USD for the first year.

 

11. The Client shall pay to the Service Provider an amount of 

 

$ {{price_usd}} USD, in one installment,

 

for the StormStrong Product described in section 3, before the beginning of the Service Period of this Agreement.

 

Cancelation and Renewal:

 

12. In the event the Client does not pay the Service Provider before the effective date, the Service Provider has the ability to cancel this Agreement and is no longer required to render to the Client any service, as defined in paragraph 5.

 

13. Both Client and Service Provider have the mutual ability to cancel this contract with 30 days of notice, with or without cause. Cancelation fees may apply.  

 

14. This Service Agreement will automatically renew at the end of the Service Period, unless the Client notifies the Service Provider, electronically in writing ahead of the renewal date.

 

15. Upon service renewal, the service price may vary between Service Periods, as a function of the hurricane activity expected for the new period of service.

 

Dispute Resolution:

 

16. In case of a dispute over a Resiliency Money payment, and whether the required conditions were met, the Client will contact the Service Provider within 14 days of the event in writing and share the following information: Client name, Client address, email address, phone number, the event date, a description of the dispute. The Service Provider will provide the Client a response within 30 days.

 

17. The National Hurricane Center in some cases revises the Hurricane track data several days after an event. To ensure expedite payment of the Resiliency Money, the Service Provider will always use the first version of data available from the National Hurricane Center to determine eligibility (paragraph 4.3).

 

Disclaimer:

 

18. This Service Agreement is not an insurance product or intended to replace a Client’s insurance coverage. 

 

19. This Service Agreement not linked to any Client’s losses. Therefore, proof-of-loss statements are not required for its execution.

 

20. Force Majeure. Neither Party will be liable for any failure or delay in performing an obligation under this Agreement that is due to any of the following causes (which causes are hereinafter referred to as “Force Majeure”), to the extent beyond its reasonable control: acts of God, accident, riots, war, terrorist act, epidemic, pandemic (including the COVID-19 pandemic), quarantine, civil commotion, breakdown of communication facilities, breakdown of web host, breakdown of internet service provider, natural catastrophes other than Hurricanes, governmental acts or omissions, changes in laws or regulations, national strikes, fire, explosion, or generalized lack of availability of raw materials or energy.

 

21. Eligibility. By accepting this agreement, you warrant that you are 18 years of age or older and have the legal authority to enter into these Terms.

 

 

 

Client:  {{client_name}}                                                          

Date:   {{today_date_cst}}