If Customer feels that Contractor did not achieve what its validation language says it achieves, Customer may submit a claim up to $25,000 to the Validation Institute (VI). VI will review the claim and either pay it, offer a smaller payout, or request a binding, final finding by an arbitrator assigned by the American Arbitration Association.If a claim is paid, the validated entity may either reimburse the Validation Institute, change the validation language to the satisfaction of VI, or remove it. In the latter situations, Customers must be notified that the original guarantee no longer applies. Likewise, if the validated entity drops its validation, customers must be notified.
We [The Recipient] warrant that, above and beyond those clearly required by the Consolidated Appropriations Act, all disclosures are being/will be made that could, or could be perceived to, create a conflict of interest that would put the employer group in a position of violating its fiduciary provisions. This includes payments made to the employer group’s consulting or brokerage firm, or carrier, or principals of either, over the last three years for any reason, or any service provided to us by them, such as actuarial consults related or not related to the particular offering or customer in question.We warrant this subject to a self-assessed penalty of the greater of $1,000,000 or five times the annual revenues for the customer in question.