To whom it may concern,
I work at a company located in VA where I found a lender in MN who provided my company a private-label services (lease hybrid) agreement/contract for information technology-telephony services for an e-rate approved funds over 5 years for a VA, local government agency, school system.
This is lender approved the credit and verified the e-rate award and provided a services agreement/contract, and advanced my company $1.6M upfront for this agreement/contract.
Here is my concern and question, senior management and middle management at my company with me crafted an addendum without disclosing this document as part of the services agreement/contract to lender. Additionally, I was directed not to communicate, and send this same document to the lender for fear the deal/agreement/contract would be terminated even when I recommended that we should.
The assignment and purchase order from lender, as part of the original credit approval and documents package states, "Vendor further agrees to notify LENDOR of any changes to the above listed specifications or the terms and conditions of the Contract within 5 working days of said change."
Is this fraud that my company, the senior management and sales management did not disclose and ordered me to not disclose this services agreement/contract under VA and MN state law?
1 Answer from Attorneys
Fraud, yes, possibly, but at the very least (or so it would seem) a basic
breach of the agreement and therefore a basis for a termination of the contract and possibly a claim for damages that might arise therefrom.
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