I have a scenario I would like to get some feedback on. Lets say my institution enters into an agreement with a builder in which the builder will provide marking for my institution in their spec homes and open houses. In addition, the builder will send us the info for customers who express an interest or are purchasing homes from the builder. In exchange for this, we will pay the builder a flat monthly amount of several thousand dollars. Payment isn't based on number of leads that come to fruition. Its just a flat amount every month.
I have read the new CFPB bulletin on MSAs and some other cases that are making me leery of this arrangement. Does anyone have any feedback? Based on my description, are we in hot water on this or does it seem like we have properly structured things?
Thanks in advance for any opinions, viewpoints, or resources.
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Opinions expressed are my own and do not reflect legal advice or the opinions of my employer.