Everflow Pay Terms and Policies

Everflow Pay is provided by Everflow Technologies Inc. ("Everflow"), working with Veem Inc. (“Veem”) subject to the following terms and policies (collectively, the "Everflow Pay Terms").
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Everflow Fintech Terms of Service

Everflow Fintech Program Privacy Policy

Everflow Electronic Communications Agreement

Veem, Inc. Terms of Use

Veem, Inc. Acceptable Use Policy

Where applicable, the Everflow Pay Terms, together with the Order Form(s) to which these Everflow Pay Terms are attached or incorporated, constitute the agreement (“Agreement”) between Everflow Technologies Inc. with a registered address at 530 Showers Drive Suite 7-302, Mountain View, CA 94040, USA, or Everflow Technologies B.V. with a registered address at Herengracht 449A, 1017 BR AMSTERDAM (“Everflow”), as the case may be, and the customer identified in the Order Form.

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‍Everflow Fintech Terms of Service

May 2024

Welcome to everflow.io  (the “Site”), a website of Everflow Technologies Inc., a Delaware corporation (“Everflow,” “we,” or “us”). This page explains the terms by which you may use the financial services we make available to you on our Site or on our mobile application (collectively the “Fintech Services” or "Services").

By submitting your application to obtain an account with us (“Account”) and to use the Fintech Services, you signify that you have read, understood, and agree to be bound by these Everflow Fintech Terms of Service (“Agreement”), Everflow Fintech Account Agreement, Everflow FinTech Card Agreement, the Everflow Deposit Account Agreements of the banking service provider for your account, other applicable terms and conditions referenced and incorporated in this Agreement, and to the collection and use of your information as set forth in the Everflow Fintech Privacy Policy. You also agree to receive all notices and other communications from us electronically. Everflow reserves the right to make unilateral modifications to these terms and will provide notice of these changes by posting an updated version to our Site.

“Company” or “You” means the legal entity that is applying for or that has opened an Account to use the Services and the individual applying for the Account. If you are the individual applying for the Account for a business, you represent and warrant that you are an authorized representative of Company with the authority to bind Company to this Agreement, and that you agree to this Agreement on Company’s behalf.

In case of conflict between this Agreement and any other agreement with Everflow, this Agreement shall prevail.

PLEASE READ THIS AGREEMENT CAREFULLY TO ENSURE THAT YOU UNDERSTAND EACH PROVISION. THIS AGREEMENT CONTAINS A MANDATORY INDIVIDUAL ARBITRATION AND CLASS ACTION/JURY TRIAL WAIVER PROVISION THAT REQUIRES THE USE OF ARBITRATION ON AN INDIVIDUAL BASIS TO RESOLVE DISPUTES, RATHER THAN JURY TRIALS OR CLASS ACTIONS.

‍1. Scope of the Services; Use of the Services; Eligibility

A. Eligibility. This is a contract between you and Everflow. You must read and agree to these terms before using the Services. If you do not agree, you may not apply for an Account or use the Services. You may only apply for an Account or use the Services for business purposes, if you are a legal entity formed and registered in the United States and can form a binding contract with Everflow and only in compliance with this Agreement and all applicable local, state, national, and international laws, rules and regulations. Any use of or access to the Services for consumer or non-commercial purposes, by anyone under 18 is strictly prohibited and in violation of this Agreement. There may be other eligibility requirements applicable to specific Services.

B. Scope of the Services. Your Account gives you access to various Services, including the demand deposit account (“Deposit Account”), payments and other services as made available from time-to-time by Everflow and by Veem Inc. (our “Banking Services Provider”), and any other functionality that we may establish and maintain from time to time and in our sole discretion.

C. Applying for an Account. You will need to provide Company information and certain personal information (collectively, “Company Information”), when you apply for an Account for business purposes. Company Information may include your registered business name and state of incorporation, the business address, ownership details, the nature of the business, and other business information we may request from time to time; the name, contact information, and date of birth of beneficial owners and certain other personnel, and other personal information; and a corporate registration certificate, proof of address, personal identification, and any other documentary information used to verify business and personal information. We provide Company Information to our Banking Services Provider and other third-party service providers to determine your eligibility for the Services. We rely on the accuracy of the Company Information you provide us when opening and maintaining your Account. We may deny your applications, suspend provision of the Services to you, or close your Account if Company Information is out of date, incomplete, or inaccurate. At any time during the term of this Agreement and as part of your use of the Services, we may require additional Company Information from you to verify your identity and the identity of your business, to obtain other information about your business, to open and maintain accounts and aspects of the Services, to assess your financial condition, and to evaluate the risks associated with your business. You expressly consent and authorize us to retrieve additional Company Information about Company and its owners or directors from our vendors and other third parties to solely to assess the history and risks of the business and to prevent fraud, including by obtaining information from credit reporting agencies and information bureaus, and you authorize and direct such third parties to compile and provide such information to us. You acknowledge that this may include names, addresses, credit history, and other data. You acknowledge that we may use Company Information to verify any other information you provide to us, and that any information we collect may affect our assessment of your overall risk to our business.

D. Account Management and Security. 

(1) Account Management. You are solely responsible for the activity that occurs on your Account, and you must keep your Account password secure. We encourage you to use “strong” passwords (for recommendations on what constitutes a strong password, check NIST SP 800-63B) with your Account. You must notify Everflow immediately of any breach of security or unauthorized use of your Account. Everflow will not be liable for any losses caused by any unauthorized use of your Account. We may suspend access to your Account if we believe that your Account has been compromised.

(2) Account Security. You are responsible for maintaining adequate security and control of any and all IDs, passwords, or any other codes that you use to access your Account (“Credentials”) and the Services. You are responsible for keeping your mailing address and email address up to date for your Account.  We will not have any liability to you for any unauthorized payment or transfer made using your password that occurs before you have notified us of possible unauthorized use and we have had a reasonable opportunity to act on that notice.  Accordingly, you should log into your Account regularly and review your transaction history for unauthorized transactions or access.

(3) Unauthorized Transactions. You are responsible for the security of your Account and credentials which are used to make payments. You should regularly log into your Account and review the activity to ensure that there has not been an Unauthorized Transaction or other error. When an Unauthorized Transaction occurs, we will work with you to provide information necessary for you to seek remedies that may be available to you through your financial institutions and we will work with you to address the issue as described herein.

An “Unauthorized Transaction” is a type of error that occurs when payment is sent that the sender did not authorize and that did not benefit the sender. 

(4) Liability for Unauthorized Transactions. 

(i) Your Liability for Unauthorized Transfers Made Through Your Account

Unauthorized Transactions related to your Account may result in the loss of your funds with no recourse. Through the Services and your Account, you may initiate payment transactions to and from your Account (and linked accounts) through electronic payment systems.

Without limiting the foregoing, an Unauthorized Transaction occurs when a payment is made through your Account or using your Credentials, and you neither authorized that payment nor benefited from the payment. As an example: if someone steals your Credentials and uses those Credentials to access your Account and send a payment without your permission, that transfer is unauthorized. For clarity, an Unauthorized Transfer will not have occurred if you give someone access to your Credentials, even if that person uses your Credentials without your permission, unless you previously notified Everflow that you shared your Credentials with someone who isn’t authorized to use your account so that we could take appropriate action. 

We recommend that you regularly log in to your Account account to review your transaction history.

You must inform Everflow immediately if you believe your Credentials have been lost or stolen, or your Account has been otherwise compromised, or if you believe that an Unauthorized Transfer has been made from your account. 

If you believe there is an Unauthorized Transfer on your Account, you must tell Everflow at once, but at least within 60 days of the transfer posting to your Account history. If you do NOT tell us within 60 days of the Unauthorized Transfer posting to your Account payment history, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

(b) Who to Contact for Unauthorized Transfers or Other Concerns

If you believe that your Credentials have been lost, stolen, or otherwise compromised, or you believe there may be an Unauthorized Transfer on your Account, you must contact us IMMEDIATELY by emailing us at fintech@everflow.io. 

E. Prohibitions. You may not use the Account or the Services (a) for any purpose that is unlawful or prohibited by this Agreement; (b) for any personal, family, household, or other use that is not related to Company’s business purpose in case of a business Account; (c) for the benefit of an individual, organization, or country identified on the United States Office of Foreign Assets Control’s Specially Designated Nationals List, or (d) for any third parties unaffiliated with Company.

F. Acceptable Use. By registering for and using the Services, you are confirming that you will not use the Services (i) to accept payments in connection with any illegal, unauthorized, or not bona fide transactions; (ii) to handle, process, or transmit funds for any third party; or (iii) to conduct any of the restricted business activities or practices listed here:

• Any illegal activity, goods, or services
• Money and legal services (including financial institutions, money transmission, prepaid cards, check cashing, wire transfers, money orders, currency exchanges or dealers, credit counseling services, bill pay services, crowdfunding, insurance, bail bonds, or collections agencies or collections attorneys)
• Buyer or membership clubs, including dues associated with such clubs
• Credit protection or identity theft protection services
• Direct marketing or subscription offers or services or unauthorized multi-level marketing businesses
• Infomercial sales
• Internet/mail order/telephone order pharmacies or pharmacy referral services (where fulfillment of medication is performed with an Internet or telephone consultation, absent a physical visit with a physician including re-importation of pharmaceuticals from foreign countries)
• Inbound or outbound telemarketers
• Rebate based businesses
• Up-sell merchants
• Betting, including lottery tickets, casino gaming chips, Fantasy Football, off-track betting, and wagers at races
• Virtual currency
• High-risk products and services, including telemarketing sales
• Service station merchants
• Automated fuel dispensers
• Adult entertainment-oriented products or services (in any medium, including Internet, telephone or printed material)
• Sales of (i) firearms, firearm parts or hardware, and ammunition; or (ii) weapons and other devices designed to cause physical injury
• Drug paraphernalia
• Occult materials
• Hate or harmful products
• Escort services
• Internet/mail order/telephone order of age restricted products (e.g., tobacco)

We may, at any time and without notice, suspend or terminate your Account or your access to any of the Services if you engage in activities that violate the letter or spirit of this section. Our determination of whether a violation of this section has occurred will be final and binding, and any action taken with respect to enforcing this section will be at our sole discretion. We may, at our discretion, permit businesses that conduct any of the activities above to use the Services with restrictions as determined by us. Everflow may modify this section at any time by posting a revised version in this Agreement.

‍2. The Everflow Fintech Services

A. Deposit Account. Your Deposit Account is a demand deposit account held with our Banking Services Provider and is subject to the terms of this Agreement and the additional terms of our Banking Services Provider. Your funds are fully insured by the Federal Deposit Insurance Corporation up to $250,000. Your Deposit Account will be used in connection with the provision of the other Services under this Agreement. You may also use your Deposit Account to the extent provided in the terms of our Banking Services Provider.

B. Everflow Fintech Virtual and Physical Cards.

Where applicable, your Everflow Fintech Account gives you access to virtual and physical cards (the “Fintech Card” or “Fintech Cards”) that you can use to make purchases for your business using funds in your Fintech Deposit Account. You may not use the Fintech Cards for any non-business purpose, such as for personal or household purchases, when issued in conjunction with your business Account.

(i) Requesting and Receiving Fintech Cards. When you sign up for an Everflow Fintech Deposit Account for your business, you will be issued one physical Fintech Card. You may request additional virtual and physical Fintech Cards for your employees, contractors, or other people affiliated with your business.

(ii) Spending Limits, Payments, and Refunds. Spending on your Fintech Card(s) is limited by the available funds in your Deposit Account. Your Fintech  Card transactions will be settled as they occur by debiting your Fintech Deposit Account an amount equal to each Fintech Card transaction. Refunds to your Fintech Card will be applied to your Fintech Deposit Account. If you use your Fintech Card for preauthorized, recurring, or subscription payments, you should regularly monitor the available funds in your Deposit Account to ensure that funds are available to make those payments. If funds are not available at the time a preauthorized, recurring or subscription payment is attempted on your Fintech Card, the transaction will ordinarily be declined. We will generally decline transactions attempted on your Fintech Card that would overdraw your Deposit Account. If, however, we do not decline a transaction and that transaction does overdraw your account, we may limit your ability to use other features or spend additional funds from your Deposit Account until your Deposit Account has a positive balance and the transaction that has overdrawn your account has been paid. For more information related to the manner in which your Fintech Card transactions are debited and settled, refer to the Fintech Card Agreement.

(iv) Disputes. If you have a dispute about a purchase on your Fintech Card that you cannot resolve with the merchant directly (a “Disputed Charge”), please contact us at fintech@everflow.io as soon as possible, and in all cases within 60 days of the charge. We cannot help you with Disputed Charges you report to us more than 60 days after the charge appears on your account. Disputed Charges will remain debited from your Deposit Account while we determine the outcome of the dispute. We will resolve all disputes in a commercially reasonable timeframe. If we determine you should be reimbursed, we will credit the amount of the Disputed Charge back to your Deposit Account and you will not be charged any fees. If we determine that the Disputed Charge was valid, your Deposit Account will not be reimbursed, and you will be charged a fee as set forth in the Fee Schedule. You assign and transfer to us any rights and claims, excluding tort claims, that you have against a merchant for any Disputed Charge that is fully or partially credited to your Deposit Account. We may assign and transfer the rights you assign and transfer to us under this provision to the Fintech Card Issuer.

(v) Records, Fees, and Communication. All transaction records and periodic statements may be found in your dashboard for your Account. All fees associated with the Fintech Cards may be found in the Everflow FinTech Card Agreement.

(ii) Returned Items. You acknowledge and agree that we may charge you any fees associated with a returned item if a check is returned to us for any reason.

(iii) Representations and Warranties. In addition to any other representations and warranties applicable to your Deposit Account, with respect to each Mobile Deposit, you make any representation or warranty that would have applied had you deposited the original paper check. This includes representations and warranties we make on your behalf when we transfer, present, or originate the Mobile Deposit created from your check image. These representations and warranties include but are not limited to, that: (a) the transmissions contain accurate images of the front and back of the original checks; (b) the transmissions contain all necessary endorsements; and (c) no depository bank, drawee, drawer, or endorser will be asked to make a payment based on an item that it has already paid.

D. Digital Checks. You may send digital checks to payees from your Deposit Account. Payees will be able to print the digital check or present the digital check via email or other electronic means to the payee’s bank for deposit. By creating and authorizing the issuance of a digital check or remotely created check (“RCC”), you authorize Everflow to honor the RCC in the amount and to the payee stated on the RCC even though the RCCs do not contain your signature. You authorize Everflowto debit your Account for any claim or return based upon an unauthorized RCC and you agree to indemnify and hold Everflow harmless from and against any claims, liabilities, costs and expenses (including attorney’s fees) resulting directly or indirectly from any breach of the foregoing warranty.

‍3. Fees and Payment.

A. Payment Method. You must keep a valid payment method on file with us to pay for all fees owed. We will debit fees from your Deposit Account or another payment method that you authorize. Everflow will charge the payment method that you authorize for all applicable fees until the Services are terminated, and any and all outstanding fees have been paid in full. If we are unable to process payment of fees using your payment method on file, we will make a second attempt to process the payment using the payment method on file within three (3) days. If the second attempt is not successful, we will notify you, and may suspend and revoke access to the Services. If the Services are suspended, your Services will be reactivated upon payment of any amounts owed. If the outstanding fees remain unpaid for sixty (60) days following the date of suspension, then Wise reserves the right to terminate your Account. You may change your payment method through your account settings.

B. Applicable Fees. Your use of the Services is subject to the fees on the Fee Schedule, which may be updated from time-to-time at our discretion. For fees owed under this Agreement, we will automatically charge you using the payment method you have on file with us and by agreeing to this Agreement, you authorize us to do this. You will be charged via invoice each month on your billing date (“Billing Date”) for all outstanding fees that have not previously been charged or collected. All fees are exclusive of applicable taxes. You are responsible for all applicable taxes that arise from or as a result of your use of the Services.

C. Collection and Right to Set-Off. You agree to pay all amounts owed to us on demand. Your failure to pay amounts owed to us under this Agreement is a breach and you will be liable for any costs we incur during collection in addition to the amount you owe. Collection costs may include attorneys’ fees, costs of arbitration or court proceeding, collection agency fees, any applicable interest, and any other related cost. We may collect amounts you owe to us under this Agreement by deducting any amounts you owe to use from your Deposit Account. You grant us a security interest in and right to set off against the Deposit Account.

‍4. Proprietary Rights

A. Limited License. Subject to the terms and conditions of this Agreement, you are hereby granted a non-exclusive, limited, non-transferable, freely revocable license to use the Services as permitted by the features of the Services. Everflow reserves all rights not expressly granted herein in the Services and the Everflow IP (as defined below). Everflow may terminate this license at any time for any reason or no reason. The Services and all materials therein or transferred thereby, including, without limitation, all software, images, text, graphics, illustrations, logos, patents, trademarks, service marks, copyrights, photographs, audio, videos, music, and other content available on the Site (the “Everflow IP”), and all Intellectual Property Rights related thereto, are the exclusive property of Everflow and its licensors. Except as explicitly provided herein, nothing in this Agreement shall be deemed to create a license in or under any such Intellectual Property Rights, and you agree not to sell, license, rent, modify, distribute, copy, reproduce, transmit, publicly display, publicly perform, publish, adapt, edit or create derivative works from any Everflow IP. Use of the Everflow IP for any purpose not expressly permitted by this Agreement is strictly prohibited. For the purposes of this Agreement, “Intellectual Property Rights” means all patent rights, copyright rights, mask work rights, moral rights, rights of publicity, trademark, trade dress and service mark rights, goodwill, trade secret rights and other intellectual property rights as may now exist or hereafter come into existence, and all applications therefore and registrations, renewals and extensions thereof, under the laws of any state, country, territory or other jurisdiction.

B. Feedback. You may choose to, or we may invite you to, submit comments or ideas about the Services, including without limitation about how to improve the Services or our products (“Feedback”). By submitting any Feedback, you agree that your disclosure is gratuitous, unsolicited and without restriction, and will not place Everflow under any fiduciary or other obligation, and that we are free to use your Feedback without any additional compensation to you, or to disclose your Feedback on a non-confidential basis or otherwise to anyone. You further acknowledge that, by acceptance of your submission, Everflow does not waive any rights to use similar or related ideas previously known to Everflow, or developed by its employees, or obtained from sources other than you.

C. Copyright Complaints. If you believe that any material on the Site infringes upon any copyright which you own or control, you may send a written notification of such infringement to our Designated Agent as set forth below:

Everflow Technologies, Inc.

530 Showers Drive Suite 7-302

Mountain View, California 94040

fintech@everflow.io

To meet the notice restrictions under the Digital Millennium Copyright Act, the notification must be a written communication that includes the following:

• A physical or electronic signature of a person authorized to act on behalf of the owner of an exclusive right that is allegedly infringed;
• Identification of the copyrighted work claimed to have been infringed, or, if multiple copyrighted works at a single online site are covered by a single notification, a representative list of such works at that site;
• Identification of the material that is claimed to be infringing or to be the subject of infringing activity and that is to be removed or access to which is to be disabled, and information reasonably sufficient to permit us to locate the material;
• Information reasonably sufficient to permit us to contact the complaining party, such as an address, telephone number and, if available, an electronic mail address at which the complaining party may be contacted;
• A statement that the complaining party has a good-faith belief that use of the material in the manner complained of is not authorized by the copyright owner, its agent or the law; and
• A statement that the information in the notification is accurate, and under penalty of perjury, that the complaining party is authorized to act on behalf of the owner of an exclusive right that is allegedly infringed.

5. Site Data and Privacy

You understand that by using the Services you consent to the collection, use and disclosure of Company Information and aggregate data we collect from your use of the Services (“Site Data”) as set forth in our Privacy Policy, and to have Company Information and Site Data collected, used, transferred to and processed in the United States. You grant us a worldwide, irrevocable license to use, modify, distribute, copy, and create derivative works from Site Data for the purposes identified in this Agreement. Everflow uses commercially reasonable physical, managerial, and technical safeguards to preserve the integrity and security of your Company Information and implement your privacy settings. However, we cannot guarantee that unauthorized third parties will never be able to defeat our security measures or use Company Information for improper purposes. You acknowledge that you provide Company Information at your own risk. Your use of the Deposit Account and other financial services is subject to the privacy policies of our Banking Services Provider.

‍6. Third-Party Links and Information

The Services may contain links to third-party materials that are not owned or controlled by Everflow. Everflow does not endorse or assume any responsibility for any such third-party services, information, materials, products, or Services. If you access a third-party website, application or service from the Services, you do so at your own risk, and you understand that this Agreement and Everflow’s Privacy Policy do not apply to your use of such third-party services. You expressly relieve Everflow from any and all liability arising from your use of any third-party websites, applications, services, or content. Additionally, your dealings with or participation in promotions of advertisers found on the Services, including payment and delivery of goods, and any other terms (such as warranties) are solely between you and such advertisers. You agree that Everflow shall not be responsible for any loss or damage of any sort relating to your dealings with such advertisers.

‍7. Indemnification

You agree to defend, indemnify and hold harmless Everflow and its subsidiaries, agents, licensors, managers, and other affiliated companies, and their employees, contractors, agents, officers and directors, our Banking Services Provider, and our third-party service providers, from and against any and all third-party claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney’s fees) arising out of, related to, or resulting from : (a) your use of and access to the Services, including any data or content transmitted or received by you; (b) your violation of any term of this Agreement, including without limitation your breach of any of the representations and warranties above; (c) your violation of any third-party right, including without limitation any right of privacy or Intellectual Property Rights; (d) your violation of any applicable law, rule or regulation; (e) your intentional misconduct; or (f) any other party’s access and use of the Services with your unique username, password or other appropriate security code.

‍8. No Warranty

THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. USE OF THE SERVICES IS AT YOUR OWN RISK. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE SERVICES ARE PROVIDED WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM EVERFLOW OR THROUGH THE SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED HEREIN. WITHOUT LIMITING THE FOREGOING, EVERFLOW ITS SUBSIDIARIES, ITS AFFILIATES, AND ITS LICENSORS DO NOT WARRANT THAT THE INFORMATION PROVIDED TO YOUR THROUGH THE SERVICES IS ACCURATE, RELIABLE OR CORRECT; THAT THE SERVICES WILL MEET YOUR REQUIREMENTS; THAT THE SERVICES WILL BE AVAILABLE AT ANY PARTICULAR TIME OR LOCATION, UNINTERRUPTED OR SECURE; THAT ANY DEFECTS OR ERRORS WILL BE CORRECTED; OR THAT THE SERVICES ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. ANY CONTENT DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICES IS DOWNLOADED AT YOUR OWN RISK AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR MOBILE DEVICE OR LOSS OF DATA THAT RESULTS FROM SUCH DOWNLOAD OR YOUR USE OF THE SERVICES.

EVERFLOW DOES NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE ADVERTISED OR OFFERED BY A THIRD PARTY THROUGH THE SERVICES OR ANY HYPERLINKED WEBSITE OR SERVICE, AND EVERFLOW WILL NOT BE A PARTY TO OR IN ANY WAY MONITOR ANY TRANSACTION BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.

‍9. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL EVERFLOW, ITS AFFILIATES, AGENTS, DIRECTORS, EMPLOYEES, SUPPLIERS OR LICENSORS BE LIABLE FOR ANY INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, THE SERVICES. UNDER NO CIRCUMSTANCES WILL EVERFLOW BE RESPONSIBLE FOR ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICES OR YOUR ACCOUNT OR THE INFORMATION CONTAINED THEREIN.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EVERFLOW ASSUMES NO LIABILITY OR RESPONSIBILITY FOR ANY (I) ERRORS, MISTAKES, OR INACCURACIES OF CONTENT; (II) PERSONAL INJURY OR PROPERTY DAMAGE, OF ANY NATURE WHATSOEVER, RESULTING FROM YOUR ACCESS TO OR USE OF OUR SERVICES; (III) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SECURE SERVERS AND/OR ANY AND ALL PERSONAL INFORMATION STORED THEREIN; (IV) ANY INTERRUPTION OR CESSATION OF TRANSMISSION TO OR FROM THE SERVICES; (V) ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE THAT MAY BE TRANSMITTED TO OR THROUGH OUR SERVICES BY ANY THIRD PARTY; (VI) ANY ERRORS OR OMISSIONS IN ANY CONTENT OR FOR ANY LOSS OR DAMAGE INCURRED AS A RESULT OF THE USE OF ANY CONTENT POSTED, EMAILED, TRANSMITTED, OR OTHERWISE MADE AVAILABLE THROUGH THE SERVICES; (VII) UNAUTHORIZED TRANSACTIONS; AND/OR (VIII) USER CONTENT OR THE DEFAMATORY, OFFENSIVE, OR ILLEGAL CONDUCT OF ANY THIRD PARTY. IN NO EVENT SHALL EVERFLOW, ITS AFFILIATES, AGENTS, DIRECTORS, EMPLOYEES, SUPPLIERS, OR LICENSORS BE LIABLE TO YOU FOR ANY CLAIMS, PROCEEDINGS, LIABILITIES, OBLIGATIONS, DAMAGES, LOSSES OR COSTS IN AN AMOUNT EXCEEDING $100.00.

THIS LIMITATION OF LIABILITY SECTION APPLIES WHETHER THE ALLEGED LIABILITY IS BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OROLID ANY OTHER BASIS, EVEN IF EVERFLOW HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.

‍10. Term and Termination

This Agreement is effective when you submit your application to us and continues until terminated by either you or us, or in accordance with the Banking Services Provider’s agreements, third-party payment processor agreements, or as otherwise set forth in this Agreement. You may terminate this Agreement by paying all amounts you owe and providing notice to us; except that you will still be responsible for any charges, fees, fines, and other losses caused by your action or inaction prior to terminating this Agreement. We may terminate this Agreement, or suspend your Account for any reason, by providing you notice, or we may terminate this Agreement immediately in the event you breach or violate any of the terms of this Agreement, as determined in the sole discretion of Everflow.

‍11. Governing Law, Arbitration, and Class Action/Jury Trial Waiver

A. Governing Law. You agree that: (i) the Services shall be deemed solely based in California, except as may be set forth in the Bank Provider Agreements; and (ii) the Services shall be deemed a passive one that does not give rise to personal jurisdiction over us, either specific or general, in jurisdictions other than California. This Agreement shall be governed by the internal substantive laws of the State of California, without respect to its conflict of laws principles. The parties acknowledge that this Agreement evidences a transaction involving interstate commerce. Notwithstanding the preceding sentences with respect to the substantive law, any arbitration conducted pursuant to the terms of this Agreement shall be governed by the Federal Arbitration Act (9 U.S.C. §§ 1-16). You agree to submit to the personal jurisdiction of the federal and state courts located in San Francisco County, California for any actions for which we retain the right to seek injunctive or other equitable relief in a court of competent jurisdiction to prevent the actual or threatened infringement, misappropriation or violation of a our copyrights, trademarks, trade secrets, patents, or other intellectual property or proprietary rights, as set forth in the Arbitration provision below, including any provisional relief required to prevent irreparable harm. Subject to Section 11.B, you agree that the federal or state courts located in San Francisco County, California is the proper forum for any appeals of an arbitration award or for trial court proceedings in the event that the Arbitration provision below is found to be unenforceable.

B. Arbitration. READ THIS SECTION CAREFULLY BECAUSE IT REQUIRES THE PARTIES TO ARBITRATE THEIR DISPUTES AND LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM Everflow. For any dispute with Everflow, you agree to first contact us at Everflow Technologies, Inc. at 530 Showers Drive Suite 7-302, Mountain View, California 94040 and attempt to resolve the dispute with us informally. In the unlikely event that Everflow has not been able to resolve a dispute it has with you after sixty (60) days, we each agree to resolve any claim, dispute, or controversy (excluding any claims arising from protection of Intellectual Property Rights, breach of Confidential Information, which will be resolved through litigation in accordance with Section 11.A, or for injunctive or other equitable relief as provided below) arising out of or in connection with or relating to this Agreement, or the breach or alleged breach thereof (collectively, “Claims”), by binding arbitration by JAMS. Claims with amounts claimed greater than $250,000 will apply the JAMS Comprehensive Arbitration Rules and Procedures; and Disputes with amounts claimed less than or equal to $250,000 will apply the JAMS Streamlined Arbitration Rules. The arbitration will be conducted in San Francisco County, California, unless you and Everflow agree otherwise. If JAMS cannot administer the Claim, either party may petition the US District Court for the Northern District of California to appoint an arbitrator. Each party will be responsible for paying any JAMS filing, administrative and arbitrator fees in accordance with JAMS rules, and the award rendered by the arbitrator shall include costs of arbitration, reasonable attorneys’ fees and reasonable costs for expert and other witnesses. Any judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction. Either party may commence arbitration by providing a written demand for arbitration to JAMS and the other party detailing the subject of the Claim and the relief requested. Each party will continue to perform its obligations under this Agreement unless that obligation or the amount (to the extent in dispute) is itself the subject of the Claim. Nothing in this Section shall be deemed as preventing either party from seeking injunctive or other equitable relief from the courts as necessary to prevent the actual or threatened infringement, misappropriation, or violation of our data security, Intellectual Property Rights or other proprietary rights. Proceedings and information related to them will be maintained as confidential, including the nature and details of the Claim, evidence produced, testimony given, and the outcome of the Claim, unless such information was already in the public domain or was independently obtained. Company and Everflow, and all witnesses, advisors, and arbitrators will only share such information as necessary to prepare for or conduct arbitration or other legal proceeding, or enforcement of the outcome, unless additional disclosure is required by law.

C. Class Action/Jury Trial Waiver. With respect to all persons and entities, regardless of whether they have obtained an account or used the services for personal, commercial or other purposes, all Claims must be brought in the parties’ individual capacity, and not as a plaintiff or class member in any purported class action, collective action, private attorney general action or other representative proceeding. This waiver applies to class arbitration, and, unless we agree otherwise, the arbitrator may not consolidate more than one person’s claims. You agree that, by entering into this agreement, you and Everflow are each waiving the right to a trial by jury or to participate in a class action, collective action, private attorney general action, or other representative proceeding of any kind.

‍12. Communication

By providing us with a telephone number for a mobile device, including a number that you later convert to a mobile device number, you are expressly consenting to receiving communications—including but not limited to prerecorded or artificial voice message calls, text messages, and calls made by an automatic telephone dialing system—from us and our affiliates and agents at that number, about any product or services offered by Everflow. This express consent applies to each such telephone number that you provide to us now or in the future. Calls and messages may incur access fees from your mobile services provider. You understand that you need not provide this consent as a condition of obtaining goods or services from Everflow, and that you may decline to provide or revoke your consent at any time by emailing fintech@everflow.io or by any other method that reasonably ensures we receive your revocation.

By providing us with a telephone number, you agree that Everflow may record any telephone conversation with you (or any another individual) during any telephone call to or from that number for training purposes, whether or not the call was initiated by you, and whether or Everflow disclosed the fact that the call was recorded during the call.

‍13. General

A. Assignment. This Agreement, and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by Everflow without restriction. Any attempted transfer or assignment in violation hereof shall be null and void.

B. Notification Procedures and Changes to the Agreement. You consent to us providing notices to you under this Agreement electronically and understand that this consent has the same legal effect as a physical signature. We will provide notices to you electronically through your Account, and via text or SMS to the phone numbers provided to us by you. If you sign up to receive certain Everflow notifications or information via text or SMS, you may incur additional charges from your wireless provider for these notices. You agree that you are solely responsible for any such charges. Notices affecting the terms of this Agreement will be sent to you and are considered received 24 hours after they are sent. You understand that you may not use the Services unless you consent to receive notices from us electronically. You may only withdraw consent to receive notices electronically by closing your Account. Notices may include alerts about the Services, your Account, and your Deposit Account and may provide you the ability to respond with information about Deposit Account transactions or your Account. You may disable notification preferences to limit the use of certain Service features or to decrease financial risks to the Company. You are required to maintain a regularly updated web browser, and computer and mobile device operating systems to receive notices correctly. You will be responsible for all costs imposed by internet or mobile service providers for sending or receiving notices electronically. Contact us immediately at Everflow Technologies, Inc. at 530 Showers Drive Suite 7-302, Mountain View, California 94040  if you are having trouble receiving notices from us.

C. Entire Agreement/Severability. This Agreement, together with any amendments and any additional agreements you may enter into with Everflow in connection with the Services, shall constitute the entire agreement between you and Everflow concerning your Account and the Services. If any provision of this Agreement is deemed invalid by a court of competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of this Agreement, which shall remain in full force and effect, except that in the event of unenforceability of the universal Class Action/Jury Trial Waiver, the entire arbitration agreement shall be unenforceable.

D. No Waiver. No waiver of any term of this Agreement shall be deemed a further or continuing waiver of such term or any other term, and Everflow’s failure to assert any right or provision under this Agreement shall not constitute a waiver of such right or provision.

E. Legal Orders. We may respond to and comply with any subpoenas, warrants, liens, or any other legal order we receive related to your use of the Services. We are not responsible to you for any losses you incur due to our response to such legal order. We may hold funds or provide information as required by the issuer of the legal order or take any other actions we believe are required of us under legal orders. Where permitted, we will provide you reasonable notice that we have received such an order.

F. Survival. Any and all provisions of this Agreement reasonably giving rise to continued obligations of the parties will survive termination of this Agreement.

G. Relationship. No joint venture, partnership, employment, or agency relationship exists between you and Everflow as a result of this Agreement or your use of the Site.

‍

‍Everflow Fintech Program Privacy Policy

‍October 2022

This policy describes how Everflow Technologies, Inc.(“Everflow,” “Company,” “we,” “us,” or “our”) collects, aggregates, stores, safeguards and uses the data and information (including non-public personal information, or “NPI”) provided by users through our website, www.everflow.io (the “Site”), as well as information collected by us through other means, including by email, over the phone, or in offline communications. This Site is operated by Everflow and has been created to provide information about our fintech, products, and services (together, the “Fintech Services”). 

We take your privacy and the security of your information seriously. 

This policy explains:

·  What information we collect, and how we use it

·  Choices you can make about the way your information is collected and used

·  How we protect personal information electronically and physically

This policy is incorporated into and a material term of your registration and/or use of Everflow’s products and services, including our website, www.everflow.io.  By using the Site or Fintech Services, you consent to the practices set forth in this Privacy Policy.

When the Privacy Policy mentions “Company,” “we,” “us,” or “our,” it refers to Everflow Technologies, Inc., a Delaware corporation and Veem, Inc. Everflow Technologies, Inc. referred to herein as “Everflow” unless the context requires otherwise. You are contracting with Everflow in this policy.

INFORMATION WE COLLECT

Information You Provide to Us

Everflow collects information from you when you choose to provide it to us through the Site or through any other means. This may include when you create an account on the Site, register or request products or services, request information from us, sign up for newsletters or our email lists, use our Site, or otherwise contact us.

The information we collect may include your name, address, email address, telephone or mobile phone number, information relating to your employment or professional activities and financial account information. You may be required to provide certain personal and/or business information to apply for and receive Everflow products services.

Information We Automatically Collect

We may use cookies or other technologies to automatically collect certain information when you visit our Site or interact with our emails. For example, if you are responding to an offer, promotional email or other email from us, we may automatically populate your personal information into our system once you enter your offer code or similar identifying device or otherwise accept your offer or promotion. Additionally, we may automatically collect certain non-personal information from you such as your browser type, operating system, software version, and Internet Protocol ("IP")address. We also may collect information about your use of the Site, including the date and time of access, the areas or pages that you visit, the amount of time you spend using the Site, the number of times you return, whether you open, forward, or click-through emails, and other Site usage data.

You may adjust your browser or operating system settings to limit this tracking or to decline cookies, but by doing so, you may not be able to use certain features on the Site or take full advantage of all of our offerings. Check the "Help" menu of your browser or operating system to learn how to adjust your tracking settings or cookie preferences. Please note that our system may not respond to Do Not Track requests or headers from some or all browsers.

HOW WE USE INFORMATION WE COLLECT

Everflow uses the data and information you provide in a manner that is consistent with this Privacy Policy and applicable law. If you provide personal data for a certain reason, we may use the personal data in connection with the reason for which it was provided. For instance, if you contact us by email, we will use the personal data you provide to answer your question or resolve your problem. Also, if you provide personal data in order to obtain access to the Site or Fintech Services, we will use your personal data to provide you with access to such services and to monitor your use of such services. 

Everflow may also use your personal data and other personally non-identifiable information collected through the Site or the provision of the Fintech Services to help us improve the content and functionality of the Site or the Fintech Services, to better understand our users and to improve the Site and the Fintech Services. Everflow and its affiliates may use this information to contact you in the future to tell you about services we believe will be of interest to you. If at any time you wish not to receive any future marketing communications or you wish to have your name deleted from our mailing lists, please contact us as indicated below.

‍SHARING OF INFORMATION WE COLLECT

Everflow is not in the business of selling your information.  There are, however, certain circumstances in which we may share your personal data with certain third parties without further notice to you, as set forth below:

Agents, Consultants, and Third-Party Service Providers:

Everflow, like many businesses, sometimes hires other companies to perform certain business-related functions. Examples of such functions include mailing information, maintaining databases, and processing payments. When we employ another entity to perform a function of this nature, we only provide them with the information that they need to perform their specific function.

Business Transfers:

As we develop our business, we might sell or buy businesses or assets. In the event of a corporate sale, merger, reorganization, dissolution or similar event, personal data may be part of the transferred assets.

Related Companies:

We may also share your personal data with our corporate affiliates and subsidiaries, if any, for purposes consistent with this Privacy Policy.

Legal Requirements:

Everflow may disclose your personal data if required to do so bylaw or in the good faith belief that such action is necessary to (i) comply with a legal obligation, (ii) protect and defend the rights or property of Fintech, (iii) act in urgent circumstances to protect the personal safety of users of the Site, the Fintech Services or the public, or (iv) protect against legal liability.

LINKS TO OTHER WEBSITES

The Site may have links to third-party websites, which may have privacy policies that differ from our own. We are not responsible for the practices of such sites, nor does any such link imply that Everflow endorses or has reviewed the third party site subject to such link. We suggest contacting those sites directly for information on their privacy policies.

‍CHILDREN AND MINORS

Everflow does not knowingly collect personal data from minors under the age of 18. If you are under the age of 18, please do not submit any personal data through the Fintech Services. We encourage parents and legal guardians to monitor their children’s Internet usage and to help enforce our Privacy Policy by instructing their children never to provide personal data without their permission. If you have reason to believe that a minor under the age of 18 has provided personal data to Everflow through the Site or the Fintech Services, please contact us, and we will endeavor to delete that information from our databases.

‍DATA SECURITY

We have taken certain physical, administrative, and technical steps to safeguard the information we collect from and about our customers and Site visitors. While we make reasonable efforts to help ensure the integrity and security of our network and systems, we cannot guarantee our security measures. Therefore, you should take special care in deciding what information you send to us via email. Please keep this in mind when disclosing any personal data to Everflow via the Internet.

ACCESS TO YOUR PERSONAL INFORMATION

To keep your personal data accurate, current, and complete, please contact us as specified below. We will take reasonable steps to update or correct personal information in our possession that you have previously submitted via the Fintech Services.

Who Can I Contact at Everflow Regarding Data Protection Issues? 

Everflow has designated a Data Protection Officer to assist with data privacy and data protection issues.  You may contact him or her by emailing fintech@everflow.ioand addressing your questions or concerns to the Data Protection Officer. 

‍IF YOU HAVE QUESTIONS

If you have any questions about this Privacy Statement or the practices described herein, you may contact us at: fintech@everflow.io.

‍CHANGES TO THIS STATEMENT

Everflow reserves the right to revise this Privacy Policy at any time. When we do, we will post the change(s)on the Site. This Privacy Policy was last updated on the date indicated above. Your continued use of the Site and the Fintech Services after any changes or revisions to this Privacy Policy shall indicate your agreement with the terms of such revised Privacy Policy.

‍

Everflow Electronic Communications Agreement

October 2022

It is our goal to provide you with as many digital banking options as possible, including providing information to you electronically. We are required by law to give you certain information in writing. This means you have the right to receive that information on paper. With your consent, we can provide it to you electronically, instead.

In this Agreement:

• "We," "us," "our," and "Everflow" mean Everflow Fintech Program. .
• "You" and "your" mean the person giving this consent, and also each additional account owner, authorized signer, authorized representative, delegate, product owner and/or service user identified on any Everflow product that you apply for, use or access.
• "Communications" means each disclosure, notice, agreement, fee schedule, privacy policy, statement, record, document, and other information we provide to you, or that you sign or submit or agree to at our request.

You agree to receive electronic Communications from us.

As part of your relationship with us, we will provide you with Communications. By accepting this Agreement, you consent to receive Communications in electronic form for any products, services and accounts that you have or apply for, either now or in the future. You also consent to the use of electronic signatures in your relationship with us.

We may still choose to provide you with information on paper even though you have consented to receive it electronically. In some cases, we are not permitted by law to deliver certain Communications to you electronically. However, if the law changes in the future and permits additional Communications to be delivered electronically, this Agreement will automatically cover those Communications as well.

We may deliver electronic Communications to you in several ways.

When we deliver electronic Communications to you, we will either: (1) email them to you; (2) post them on our website; (3) present them on-screen or for download through one of our online or mobile banking services; (4) include them in other electronic Communications that we are delivering to you, such as electronic account statements; or (5) in the manner specified in any other agreement we have with you. If we are not emailing or presenting the information to you directly, we will tell you where you can go to view that information.

If you seek to obtain a new product, service or account with us, we may remind you that you have already consented to receiving electronic Communications and using electronic signatures in your relationship with us. If you choose not to receive electronic Communications or use electronic signatures in connection with the new product, service or account, that choice does not mean you have withdrawn your consent with respect to any other product, service or account.

‍You will need some technology to receive electronic Communications.

To receive and retain electronic Communications from us, you will need the following:

• A computer or mobile device with an operating system that supports everything below;
• A connection to the internet;
• A current version of a web browser that we support. You should check the system requirements periodically for updates to supported software;
• A hard drive or other data storage unit;
• A valid, active email address; and

A current version of a program that displays PDF files (such as Adobe® Reader®).

If our hardware and software requirements change, and that change would create a material risk that you would not be able to access or retain electronic Communications, we will give you notice of the change. Continuing to use our electronic services after receiving notice of updates to our system requirements signifies your acceptance of the change and reaffirmation of your consent.

‍Please keep your contact information up to date.

It is your responsibility to keep all of your contact information current so that we can send you electronic Communications. You can update your email address and other contact information by editing your profile in the Everflow Application. You may also contact us at fintech@everflow.io.

‍You may have the option to receive paper copies.

We may choose to make paper copies of certain electronic Communications available upon request. You can request paper account statements via email to fintech@everflow.io.

‍You can withdraw your consent to receiving electronic Communications.

You have the right to withdraw this consent at any time. Withdrawing consent may terminate your access to certain electronic services. You may also no longer be able to use certain Fintech products. After we have processed your withdrawal, future Communications required to be in writing will be delivered to you on paper, subject to applicable fees. To withdraw your consent to receiving electronic Communications, you may contact us via email at fintech@everflow.io. Your withdrawal of consent will become effective only after we have had a reasonable opportunity to act upon it.

‍‍

Veem Terms of Use

These Terms of Use (“Terms”) set forth the terms and conditions that apply to your access and use of the payment receiving services (“Accounts Receivable Services”) as owned and operated by Veem Inc. (“Veem”), its subsidiaries and/or affiliates, and bill payment services (“Accounts Payable Services”) as owned and operated by Veem Payments Inc. (“Veem Payments”) a wholly-owned subsidiary of Veem, and/or its affiliates. Veem and Veem Payments are collectively referred to herein as “we,” “our,” or “us”. Accounts Receivable Services and Accounts Payable Services are collectively the “Services”.

This is a legal agreement between us and the entity or person doing business in their individual capacity (“you,” “your,” or “user”) who registered for a User Account or is using the Services at veem.com. These Terms describe the terms and conditions that apply to your use of the Services.

You may use the Services only to receive and make payments for goods and services. By accessing or using the Services you agree to these Terms.

We may amend these Terms at any time by posting a revised version on our website. The revised version will be effective at the time we post it. In addition, if the revised version includes a substantial change, we will provide you with 30 Days’ prior notice of any substantial change by posting notice on our website.

These Terms provide that all disputes between you and Veem will be resolved by BINDING ARBITRATION. YOU AGREE TO GIVE UP YOUR RIGHT TO GO TO COURT to assert or defend your rights under this contract, except for matters that may be taken to small claims court. Your rights will be determined by a NEUTRAL ARBITRATOR and NOT a judge or jury, and your claims cannot be brought as a class action. Please review Section 5.15 (“Dispute Resolution and Arbitration”) for the details regarding your agreement to arbitrate any disputes with Veem.

Veem is located at 1160 Battery St. East, Suite 100, San Francisco CA 94111.

1. Relationship for the Services

1.1 Our Role. Veem acts as an “agent of payee” meaning we provide Accounts Receivable Services to collect and transfer funds from a sender on behalf of a receiver of funds. Veem Payments is a licensed money transmitter in applicable states in the U.S.A. that provides Accounts Payable Services on behalf of a sender to make a payment to a receiver for goods and services.

Except for our limited role in processing or receiving payments that you authorize or initiate and transmit, we are not involved in any underlying transaction between you, any other user, or any service providers and you are solely responsible for resolving any disputes concerning any underlying transaction. We are not a bank and do not offer banking services. We may use the services of one or more third parties to provide the Services and process your transactions (each a “Processor”). We do not guarantee payment on behalf of any user. We are not a selling agent in connection with any sale or purchase by you of goods or services to any person.

1.2 Your Authorization. You authorize us to receive, hold and disburse funds in accordance with your payment instructions. Your authorization permits us to make an electronic transfer via Automated Clearing House network (“ACH”) from your bank account in the amount and currency you specify and send money electronically to a receiver’s bank account in the designated currency. You also authorize us to debit your bank account for Service Plan fees.  Once you have provided your authorization for the transfer, you authorize and order us to commit your payment (less any applicable Pricing, foreign exchange, or other amounts we may collect under these Terms) to a receiver. You give us the right to resubmit any ACH debit you authorized that is returned for insufficient or uncollected funds. You agree to allow us to recover any amounts due to us if there are insufficient funds in your bank account to cover your liability, and agree to reimburse us immediately, upon demand, through other means. You agree to reimburse us for any fees imposed on us or costs we incur as a result of the transaction. Your liability under this Section extends to any of your guarantors, successors and assigns.

You also agree to be bound by any applicable rules of the National Automated Clearing House Association. Your authorizations will remain in full force and effect while you maintain your User Account and for any registered bank account.

As a receiver using Accounts Receivable Services you agree that we will be your agent to collect and receive payments on your behalf for goods and services sold to your customers. You further agree the sender’s obligation to pay you is fulfilled upon delivering funds to us as your agent.  You also agree to our offsetting from payment that you receive transaction fees applicable for such transactions.

1.3 Your Privacy. Protecting your privacy is very important to us. You agree to our Privacy Policy which explains our commitment to maintaining your privacy, as well as our collection, use and disclosure of your Information.

1.4 Intellectual Property. You acknowledge and agree that (i) all right, title and interest in the Services and associated software, website and technology, including all intellectual property rights therein, are and will remain with us or our third party licensors; (ii) no right or interest in the software or the Services is conveyed herein; and (iii) the software, website and the Services are protected by the copyright and other intellectual property laws. All rights not expressly granted in these Terms are reserved.

1.5 Password Security and Keeping Your Email and Address Current. You are responsible for maintaining adequate security and control of any and all IDs, passwords, or any other codes that you use to access your User Account and the Services. You are responsible for keeping your mailing address and email address up to date in your User Account.  We will not have any liability to you for any unauthorized payment or transfer made using your password that occurs before you have notified us of possible unauthorized use and we have had a reasonable opportunity to act on that notice.  Accordingly, you should log into your account regularly and review your transaction history for unauthorized transactions or access.

1.6 Notices to You. You agree that we may provide you communications about your User Account and the Services electronically on the Veem website or to the email addressor by mail to the mailing address registered on your User Account. Any electronic communications will be considered to be received by you within 24hours after the time we post it to our website or email it to you. Any communications sent to you by postal mail will be considered received by you 3 Business Days after we send it.

1.7 Notices to Us. Notices to Veem must be sent by postal mail to:

Veem Inc.
Attention: Legal Department
1160 Battery St. East, Suite 100
San Francisco CA 94111

1.8 Prohibited Businesses and Activities.  You may not use the Services for any services, activities or business type we have identified as prohibited as set forth in our Acceptable Use Policy. We retain full rights over the customers and the industry types we elect to service. We may amend our Acceptable Use Policy at any time by posting a revised version on our website.

You may not use the Services in or for the benefit of a country, organization, entity, or person embargoed or blocked by any government, including those on sanctions lists identified by the Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”).

1.9 Third Party Offerings: Veem users may elect to use products or services developed and offered by other parties that may be used in or through Veem offerings, including services offered or “powered by” parties other than Veem (collectively, “Third Party Offerings”). Veem has no responsibility for Third Party Offerings. You agree and acknowledge that (i) Veem has no control over any Third Party Offerings that you may elect to use in connection with Veem applications and services; and (ii) Veem does not endorse or recommend Third Party Offerings even if they are marketed or distributed via our services, products or websites, or otherwise are associated with Veem. You agree that the parties delivering Third Party Offerings, and not Veem, are solely responsible for the Third Party Application and Service performance (including technical support), the content on the Third Party Offering providers’ website(s) and their use or disclosure of your data. Such third parties, and not Veem, will not be liable for any damages, claims or liabilities arising from the third parties or the Third Party Offerings.

2. User Account

2.1 Eligibility.  To be eligible to use the Services, you must be at least 18 years old and a resident of the United States or one of the countries on our Countries Service List. You may use the Services only to receive and make payments for goods and services. To send or receive payments using the Services, you must register for a User Account or send a payment as a Guest User pursuant to these Terms. We may terminate your use of the Services at any time for any reason.

2.2 Registration. To register for a User Account, you or the person or persons registering for a User Account (your “Representative”) must provide us with your business or trade name, address, email, phone number, tax identification number, URL, the nature of your business or activities, valid bank account information, and certain other information about you that we require. We may also collect personal information (including name, birthdate, and government-issued identification number) about you, your beneficial owners, principals, and your Representative. You agree to provide us with accurate and verifiable information about you and your business. Federal law requires that we verify some of your information. Until you have submitted, and we have reviewed and approved all required information, your User Account will be available to you on a preliminary basis only, and we may close, suspend, or limit access to your User Account and/or the Services in the event we are unable to obtain or verify your information or for any reason. You must provide accurate and complete information in response to our questions, and keep that information current.

If you are a business, you confirm you are authorized to conduct business by the jurisdiction in which you operate and that you and your Representative are an authorized signatory for the business you represent.

2.3 Guest User. We may allow for a guest use of the Services to make limited payments. The amount of funds you can send as a guest user will be restricted based on a risk assessment. Guest use requires you to provide information we will require to fulfill a transaction and comply with applicable laws. You will be required to register for a User Account as your use increases.

2.4 Identity Authentication. You authorize us, directly or through third parties, to make any inquiries we consider necessary to validate your and your company’s identity and information. This may include asking you for further information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your email address or valid bank account, ordering a credit report, or verifying your information against third party databases or through other sources.

2.5 Continuing Validation. At any time during your use of the Services, we may require additional information from you to verify beneficial ownership or control of the business, validate information you provided, verify you or your Representative’s identity, and assess the risk associated with your business. This additional information may include business invoices, copies of government-issued identification, business licenses, copies of bank statements, or other information related to your business, your beneficial owners or principals. Your failure to provide this information may result in suspension or termination of your User Account or placing a hold on your transaction.

2.6 Business Representative. You and your Representative individually affirm to us that you and your Representative are authorized to provide the information described in these Terms on your behalf and to bind you to these Terms. We may require you or your Representative to provide additional information or documentation demonstrating your Representative’s authority. Neither you nor your Representative may register or attempt to register for a User Account on behalf of a user previously terminated from use of the Services without our express written consent.

If you are a sole proprietor, you and your Representative also affirm that you and your Representative are personally responsible and liable for your use of the Services and your obligations under these Terms.

2.7 Changes to Your Information, Keeping your User Account Current: You agree to keep the information in your User Account current. You must promptly update your User Account with any changes affecting you, the nature of your payment activities, your Representative, beneficial owners, principals, or any other pertinent information. We may suspend or terminate your User Account or place a hold on your transaction if you fail to keep this information current.

2.8 User Account Activity. You may view your User Account activity at any time by logging into your User Account. You are fully responsible for all activity that occurs under your User Account, including any actions taken by your Representative or other persons to whom you have granted access to your User Account.

2.9 Service Fees. We will provide the Services to you at the rates and for the fees described on the Veem.com website, which are incorporated into these Terms by reference. In these terms, fees are sometimes referred to alternatively as “Pricing” or “Service Fees” and include account subscription fees, transaction fees, payment processing fees, and other special services fees. You agree to pay when due all Service Fees applicable to your use of the Service. You agree that you are responsible for the full amount of applicable Service Fees for each billing cycle in which you use the Service or maintain a Veem account, even if you don’t use the Service during the billing cycle or use the Service for only a portion of the billing cycle. We reserve the right to refuse to cancel your Veem account if your account is not in good standing or has any overdue Service Fees.  We reserve the right to change the Service Fees from time to time, in our sole discretion. If the increase in Service Fees is not acceptable, your sole and exclusive remedy will be to stop using the Service and/or cancel your Veem account, as applicable. By continuing to use the Service after notice of the new Service Fees, you accept all changes in Service Fees. All Service Fees are non-refundable. You authorize us to use the credit or debit card you have provided to us, or the bank account associated with your Veem account to automatically charge you, in U.S. dollars, for the Service Fees applicable to your Veem account or your use of the Service, plus any applicable taxes.  If your Veem account becomes overdue, Veem will be entitled to reimbursement for the reasonable costs of collection, including reasonable attorneys’ fees and expenses.

2.10 User Account Suspension, Limitation or Termination. You may close your User Account at any time. You will still be obligated to us for any fees incurred before the closure. We will remit any payments that you have committed to prior to account closure, but have not been processed and paid out after closure. We may terminate your use of the Services at any time for any reason. Any termination of these Terms does not relieve you of obligations to pay Pricing or costs accrued prior to the termination and any other amounts owed to us as provided in these Terms. We will not be liable to you for any losses that you incur in connection with our closure or suspension of your account.

2.11. Inactive Accounts. If your Veem account becomes inactive because you do not process a payment for an extended period of time, or because you have not linked a valid bank account, you may have a balance that is deemed “unclaimed” or “abandoned” under applicable state law. We may transfer any such “unclaimed” or “abandoned” funds in your Veem account as required or permitted by applicable law. As provided by law, we may deduct a dormancy fee from any funds transferred under this paragraph.

3. Sending and Receiving Payments

3.1 Payment Purpose. You warrant and represent that your use of the Services is solely to receive and make payments for goods and services as permitted under these Terms.

3.2 Payment Limits. The amount of funds you can send or receive may be restricted based on a risk assessment and the amount of verification on your User Account. Your User profile will tell you what is required to increase your limits. For questions, please contact Client Services at (877) 279-2629 or email clientservices@veem.com.

3.3 Payment Review.  We review and monitor payment transactions for risk, fraud, money laundering and terrorist financing activity. For certain potentially high-risk transactions, we will place a hold on the payment, conduct a review, may contact you for additional information, and either clear or cancel the payment. In order to prevent financial loss to you or to us, we may place a delay on a payment for a period of time, refuse to process a payment, or deactivate your User Account. If we have reason to suspect that you are using the Services to violate local, state or federal laws, we may share information about you with law enforcement agencies.

3.4 Refused and Refunded Transactions. When you send money, the receiver is not required to accept it. You agree that you will not hold us liable for any damages resulting from a receiver’s decision not to accept a payment made through the Services. Any unclaimed, refunded or denied payment will be returned to your bank account. We will return any unclaimed payment to you within 30 Days of the date you initiated payment. To be eligible for a refund, a transaction must not have been fulfilled by any statutory refund timelines. You must submit a request for a refund in writing to clientservices@veem.com. Veem shall refund to the customer all moneys received for transmittal within ten days of receipt of a written request for a refund.

3.5 Insufficient Funds and Reversals.  When you send or receive a payment, you are liable to us for the full amount of the payment plus any Pricing if the payment is later invalidated for any reason (e.g. insufficient funds from sender). This means that, in addition to any other liability, you will be responsible to us for the amount of the payment, plus the applicable Pricing if there is a reversal of the payment. You agree to allow us to recover any amounts due to us by debiting your bank account. If there are insufficient funds in your bank account to cover your liability, you agree to reimburse us immediately, upon demand, through other means. You agree to reimburse us for any fees imposed on us or costs we incur as a result of the transaction. Your failure to fully pay amounts that you owe us on demand will be a breach of these Terms. You are liable for any of our costs associated with collection in addition to any amounts owed, including attorneys’ fees and expenses, collection agency fees, and any applicable interest. Your liability under this Section extends to any of your guarantors, successors and assigns.

3.6 Refund and Reversal Currencies. All refunds and reversals will be made in the same currency as the original transaction. If your transaction must be refunded or reversed and you do not have the correct currency available in your bank account, a currency conversion will be performed.

3.7 Payment Processing Delays. We will use commercially reasonable efforts to process and facilitate your payment in accordance with these Terms and applicable law. When you send a payment to a receiver, the payment is treated as authorization to process your payment and complete the transaction. Some receivers may delay claiming your payment, in which case the payment may be held as pending until the receiver claims your payment. We will cancel the transaction within 30 Days of the date you initiated payment in accordance with Section 3.4.

3.8 Errors Regarding Payments. It is your responsibility to review all payment transactions initiated through the Services. Your payment transaction information is maintained in your User Account and included in the receipts we provide you. All questions about transactions made through the Services must be directed to us either in writing to clientservices@veem.com or by calling us at (877) 279-2629. We will rectify any of our processing errors that we discover. If the error results in a receiver’s receipt of less than the correct amount to which a receiver is entitled, we will credit their account for the difference. If the error results in their receipt of more than the correct amount to which a receiver is entitled, we will debit the extra funds from their account.

3.9 Unauthorized Transactions. You are responsible for the security of your User Account and credentials which are used to make payments. You should regularly log into your User Account and review the activity to ensure that there has not been an Unauthorized Transaction or other error. We will also send an email to the primary email address you provide to notify you of each transaction. You should also review these transaction confirmations to ensure that each transaction was authorized and is accurate. When an Unauthorized Transaction occurs, we will work with you to provide information necessary for you to seek remedies that may be available to you through your financial institutions and we will work with you to address the issue as described below:

An “Unauthorized Transaction” is a type of error that occurs when payment is sent that the sender did not authorize and that did not benefit the sender. Unauthorized Transactions that result from our processing error will be addressed as set forth in Section 3.9.

3.10 Scheduled Transactions. In the event of a Force Majeure event (definedbelow) we may be unable to complete a payment that is to occur at a future point in time (a “Scheduled Transaction”) at the rate initially quoted as part of our “Locked Exchange Rate” or similar program, or at all. In such a situation we will modify or cancel the payment and provide you notice of thisaction and the related reason.

3.11 Instant Deposit. Veem enables users the ability to receive funds on a debit card in some locations. You may configure your payment preferences for your Veem account to specify your payout preferences. If you are using the service on behalf of a business or entity, you acknowledge and agree that you have authority to bind such business and to direct funds to the debit card you input into Veem for such purpose. To use Instant Deposit you must have a valid and active debit card issued in your name. Your ability to use Instant Deposit is dependent upon your debit card’s acceptance of fast funds. Not all debit cards are eligible to accept fast funds, and the card’s issuing bank may choose at any time to disable the acceptance of fast funds or enable restrictions. You will be required to pay the Instant Deposit fee irrespective of the type of card that you use with the service even though settlement may take longer. We are not able to ensure that all payments are deposited instantly. The speed at which you receive will depend on your bank and other factors. If your bank rejects a payment, or it fails in our system, the transaction will be routed to the regular bank account affiliated with your Veem account, and you will receive the payment typically 1-3 business days later. We are not responsible for any fees from your bank in association with your use of Instant Pay. We reserve the right to block access to Instant Deposit at any time for any reason, including for improper use of Veem services. Your debit card use is also subject to the terms of your agreement with the issuer of your debit card.

3.12 Credit and Debit Card Payments. You may fund payment transactions by using a qualified credit or debit card. We charge a fee for this service which is set forth on our Pricing Page. You may add various debit and/or credit cards as funding sources in your Veem account.  We may authorize your cards to confirm their validity.  In such a case, a temporary, small authorization charge may appear on your card statement. When you add cards to your account, you agree you have the authority to disclose the information and to bind the person or organization for which you act, and you authorize the initiation of debit or credit entries, as applicable, to the payment methods in accordance with instructions provided via the Veem services, and, if necessary, the initiation of adjustments for any transactions debited or credited in error.  By submitting your payment for processing by Veem, you agree that the goods or services provided by your recipient in exchange for the principal have already been rendered to your satisfaction. You hereby forfeit any future claims regarding insufficient or unexpected quality or untimely delivery of the goods and services provided, including those services rendered by us in exchange for your payment of fees.  In addition to limits that we may impose on use of cards with the Veem services, the cards that you elect to use with the Veem service are subject to credit or transactional limits, credit and interest terms, and rewards programs provided by the card issuer. We may elect to apply different and more restrictive terms than your card issuing institution. Card payments are also subject to limitations imposed by card networks on the types of industries that can be paid with a card funding source. Non-accepted categories are noted by Veem in its user experience and submission of payments to non-permitted industries is a violation of our terms. By selecting the recipient category, you acknowledge that the payment you are making is for the category type you indicate and which is allowable by the issuing bank. For a current list of non-accepted categories for card payments, please visit the Help Center. Your transactions may be treated as a cash advance by your issuing bank even though we code the transactions as a purchase. You agree not to hold us liable for any consequences resulting from issuer treatment of card authorizations, which may include but are not limited to cash advance fees, impacted reward program earnings, or altered credit programs and interest rate terms.

3.13 Funds in Settlement Process. Veem uses bank accounts to help fulfill payments. Funds in the payment settlement process may be stored in a master bank account owned by Veem, as custodian and for the benefit of Veem customers. Such funds may be commingled with other funds similarly collected by and held by Veem for purposes of making payments requested through the Service. Even though funds will be held in an account owned by Veem, the funds are held solely for the benefit of the Veem users, not Veem and the Veem user will be the principal with respect to those funds. Veem will not mix user funds with Veem corporate funds and Veem will not use customer funds for any corporate purposes, nor will Veem voluntarily make customer funds available to its creditors in the event of bankruptcy. Funds will be held in U.S. dollars. You will not receive interest on the funds that Veem holds on your behalf.

4. Changes to the Service

We will occasionally provide automatic upgrades to the Services and its functionality to improve your experience, although these upgrades may not be consistent across all platforms and devices. You agree to take no action to interfere with such automatic upgrades and changes to the Services. We have the right at any time to change, modify, add to, discontinue or retire any aspect or feature of the Services including, but not limited to, the hours of availability, equipment needed for access or use, the maximum or minimum settlement amounts or the availability of the Services on any particular device or platform. We have no obligation but will make a reasonable effort to provide you with notice of any such changes.

5. General Provisions

5.1 Indemnity. Notwithstanding the foregoing or anything to the contrary in these Terms, you agree to defend, indemnify, and hold us harmless, and our respective employees, directors, agents, affiliates and our Processors (collectively, “Veem Parties”) from and against any claim, suit, demand, loss, liability, damage, action, or proceeding arising out of or relating to (a) your breach of any provision of these Terms; (b) your use of the Services; (c) your obligation to pay for Pricing or other amounts owing to us, or third parties; and (d) negligence or willful misconduct by you, your employees, contractors, agents or Representatives.

In addition, you will indemnify, defend, and hold Veem Parties harmless from and against any and all claims, costs, losses, damages, judgments, Taxes, penalties, interest, and expenses (including reasonable attorneys’ fees) arising out of any claim, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises out of or relates to any transaction submitted by you through the Services (including the accuracy of any content or product, service, or transaction information that you provide or any claim or dispute arising out of products or services offered or sold by you).

5.2 Limitation of Liability. In no event will Veem Parties be liable for any lost profits, lost revenue, lost business opportunity, loss of data, or any indirect, punitive, incidental, special, consequential, or exemplary damages arising out of, in connection with, or relating to these Terms, or the Services, including without limitation the use of, inability to use, or unavailability of the Services. Under no circumstances will any of the Veem Parties be responsible for any damage, loss or injury resulting from hacking, tampering, or other unauthorized access or use of the Service or your User Account or the data contained therein, or your failure to use or implement security, controls, or processes that are appropriate for your business.

Veem Parties assume no liability or responsibility for any (a) personal injury or property damage, of any nature whatsoever, resulting from your access to or use of the Services; (b) any misuse of Services or data; (c) any interruption or cessation of transmission to or from the Services; (d) any software bugs, viruses, or other harmful code that may be transmitted to or through the Services; (e) any errors, inaccuracies, or omissions in the Services or data, or any loss or damage resulting therefrom (other than the transfer amount and the transfer fees charged directly by Veem, for which Veem will be responsible), regardless of the manner of transmission; or (f) defamatory, offensive, or (subject to our obligation to safeguard funds in our care) illegal conduct of any third party;. or (g) being prevented from, hindered or delayed by reason of acts of God, war or war-like hostilities, civil commotions, riots, blockades, embargoes, sabotage, strikes, lock-outs, fire, flood, shortage of material or labor or act of state, including currency control measures, in its performance under these Terms of Use (e.g. “Force Majeure” events).

Without limiting anything to the contrary, the Veem Parties’ cumulative liability to you is limited to direct damages and in all events will not exceed in the aggregate amounts actually received by us (including any Pricing paid to us) for providing the Services to you during the three (3) month period immediately preceding the event that gives rise to the claim for liability (in addition to refunding the transfer amount and transfer fee).

This limitation of liability section applies regardless of the legal theory that the claim is based on, including without limitation contract, tort (including negligence), strict liability, or any other basis. The limitations apply even if we have been advised of the possibility of such damage.

The foregoing will apply to the fullest extent permitted by law.

5.3 No Warranty; Disclaimer. THE SERVICES ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OF WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. VEEM, OUR PARENT AND AFFILIATES, AND THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF VEEM, OUR PARENT OR OUR AFFILIATES, SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. We do not have any control over the products or services that are paid for with the Services and we cannot ensure that a payment sender or a receiver you are dealing with will actually complete the transaction or is authorized to do so. We do not guarantee continuous, uninterrupted or secure access to any part of the Services, and operation of our site may be interfered with by numerous factors outside of our control. We will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts are processed in a timely manner but we make no representations or warranties regarding the amount of time needed to complete processing because the Services are dependent upon many factors outside of our control, such as delays in the banking system or the U.S. or international mail service. Certain Services may not be available to you based on residency, geographic location or other eligibility criteria. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you. This paragraph gives you specific legal rights and you may also have other legal rights that vary from state to state.

5.4 Entire Agreement. These Terms and all policies and procedures that are incorporated by reference constitute the entire agreement between you and us for provision and use of the Services. Except where expressly stated otherwise in a writing executed between you and us, these Terms will prevail over any conflicting policy or agreement for the provision or use of the Services. These Terms sets forth your exclusive remedies with respect to the Services. If any provision or portion of these Terms is held to be invalid or unenforceable under law, then it will be reformed and interpreted to accomplish the objectives of such provision to the greatest extent possible, and all remaining provisions will continue in full force and effect.

5.5 Modification; Waiver. In the event that we make material changes to these Terms, we will provide you with 30 Days’ prior notice by posting notice on our website. You agree to the new-posted Terms by continuing your use of the Services. If you do not agree with the modified Terms, your sole remedy is to terminate your User Account and discontinue using the Service. The waiver by either party of a breach of any provision hereof shall not be construed as a waiver of any succeeding breach of the same or any other provision, nor shall any delay or omission on the part of such party to avail itself of any right, power or privilege that it has or may have hereunder operate as a waiver of any right, power or privilege

5.6 Applicable Law. You agree that, except to the extent inconsistent with or preempted by federal law and except as otherwise stated in these Terms, the laws of the State of California, without regard to principles of conflict of laws, will govern these Terms and any claim or dispute that has arisen or may arise between you and us.

5.7 Assignment. You may not transfer or assign any rights or obligations you have under these Terms without our prior written consent. We reserve the right to transfer or assign these Terms or any right or obligation under these Terms at any time. These Terms shall inure to the benefit of all permitted successors and assigns.

5.8 Force Majeure. Neither we nor you will be liable for any delays in processing or other nonperformance caused by telecommunications, utility, failures, or equipment failures; labor strife, riots, war, or terrorist attacks; nonperformance of our vendors or suppliers, fires or acts of nature; or any other event over which we have no reasonable control. However, nothing in this section will affect or excuse your liabilities or your obligation to pay fees, reversals, or returns under this Agreement.

5.9 Taxes. You are responsible for determining any and all Taxes assessed, incurred, or required to be collected, paid, or withheld for any reason for your use of the Services (“Taxes”). You also are solely responsible for collecting, withholding, reporting, and remitting correct Taxes to the appropriate tax authority. We are not obligated to, nor will we determine whether Taxes apply, or calculate, collect, report, or remit any Taxes to any tax authority arising from any transaction. We specifically disclaim any liability for Taxes. If in a given calendar year, you process (i) more than $20,000 in gross amount of payments and (ii) more than 200 payments, we may be required by law to report information about you and your use of the Services to the Internal Revenue Service (“IRS”). For purposes of determining whether you have met the IRS reporting threshold, the gross amount does not include any adjustments for credits, cash equivalents, discount amounts, fees, refunded amounts or any other amounts. Whether you reach $20,000 in payments or more than 200 payments will be determined by looking at the taxpayer identification number (“TIN”) associated with your User Account, including the applicable social security number (“SSN”) or entity identification number (“EIN”).

5.10 Severability. In the event that any provision contained herein shall for any reason be held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, to such extent such provision shall be deemed null and void and severed from these Terms, the remainder hereof shall remain in full force and effect and enforceable.

5.11 Independent Contractor. We are an independent contractor for all purposes. Except as otherwise provided herein, neither we nor you have any right or authority to assume any obligations, or to make any representations or warranties, whether express or implied, on each other’s behalf, or to bind each other in any matter.

5.12 Survival. The following shall survive the termination of these Term: (i) all liabilities accrued under these Terms prior to the effective date of termination; (ii) all provisions that give rise to a party’s ongoing obligation; (iii) all provisions of Sections 1.2, 2.5, 2.8. 3.4, 3.6 and 5.1 through 5.14 of these Terms of Use; and (iv) any other terms which by their nature should survive.

5.13 Compliance with Laws. You represent and warrant that you will comply (and will cause your employees, agents, and representatives to comply) with all laws applicable to your business and the Services. Use of the Services is subject to all applicable laws and regulations regarding the prevention of terrorist financing and anti-money laundering. You agree and acknowledge that your use of the Services will comply with such laws and regulations, including, without limitation, the sanctions programs administered by the Office of Foreign Assets Control of the United States Department of the Treasury.

5.14 Contacting Us. If you have questions concerning these Terms, you may contact us at clientservices@veem.com or at (877) 279-2629.

5.15. Dispute Resolution and Arbitration
a. Generally. In the interest of resolving disputes between you and Veem in the most expedient and cost-effective manner, you and Veem agree that every dispute arising in connection with these Terms will be resolved by binding arbitration. Arbitration is less formal than a lawsuit in court. Arbitration uses a neutral arbitrator instead of a judge or jury, may allow for more limited discovery than in court and can be subject to very limited review by courts. Arbitrators can award the same damages and relief that a court can award. This agreement to arbitrate disputes includes all claims arising out of or relating to any aspect of these Terms, whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory and regardless of whether a claim arises during or after the termination of these Terms. YOU UNDERSTAND AND AGREE THAT, BY ENTERING INTO THESE TERMS, YOU AND VEEM ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY OR TO PARTICIPATE IN A CLASS ACTION.

b. Exceptions. Despite the provisions of Section 17(a), nothing in these Terms will be deemed to waive, preclude, or otherwise limit the right of either party to (i) bring an individual action in small claims court; (ii) pursue an enforcement action through the applicable federal, state, or local agency if that action is available; (iii) seek injunctive relief in a court of law; or (iv) to file suit in a court of law to address an intellectual property infringement claim.

c. Arbitrator. Any arbitration between you and Veem will be settled under the U.S. Federal Arbitration Act, and governed by the Commercial Dispute Resolution Procedures and the Supplementary Procedures for Consumer-Related Disputes (collectively, “AAA Rules”) of the American Arbitration Association (“AAA”), as modified by these Terms, and will be administered by the AAA. The AAA Rules and filing forms are available online at www.adr.org, by calling the AAA at 1-800-778-7879.

d. Notice; Process. A party who intends to seek arbitration must first send a written notice of the dispute to the other party by certified U.S. Mail or by Federal Express (signature required) or, only if such other party has not provided a current physical address, then by electronic mail (“Notice”). Veem’s address for Notice is: Veem Inc., 1160 Battery St. East, Suite 100, San Francisco CA 94111; Attention: Legal Department. The Notice must: (i) describe the nature and basis of the claim or dispute; and (ii) set forth the specific relief sought (“Demand”). The parties will make good faith efforts to resolve the claim directly, but if the parties do not reach an agreement to do so within 30 days after the Notice is received, you or Veem may commence an arbitration proceeding. During the arbitration, the amount of any settlement offer made by you or Veem must not be disclosed to the arbitrator until after the arbitrator makes a final decision and award if any. If the dispute is finally resolved through arbitration in your favor, Veem will pay you the highest of the following: (A) the amount awarded by the arbitrator, if any; or B) the last written settlement amount offered by Veem in settlement of the dispute prior to the arbitrator’s award.

e. No Class Actions. YOU AND VEEM AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. Further, unless both you and Veem agree otherwise, the arbitrator may not consolidate more than one person’s claims and may not otherwise preside over any form of a representative or class proceeding.
f. Modifications to this Arbitration Provision. If Veem makes any future change to this arbitration provision, other than a change to Veem’s address for Notice, you may reject the change by sending us written notice within 30 days of the change to Veem’s address for Notice, in which case your account with Veem will be immediately terminated and this arbitration provision, as in effect immediately prior to the changes you rejected will survive.

g. Enforceability. If Section 5.15a is found to be unenforceable or if the entirety of this Section 5.15 is found to be unenforceable, then the entirety of this Section 5.15 will be null and void and, in that case, the parties agree that the exclusive jurisdiction and venue described in these Terms will govern any action arising out of or related to these Terms.

Last Updated: June 5, 2023

Terms and Conditions in French / Termes et conditions (version française)

Terms and Conditions in French / Termes et conditions (version française)

Veem Wallet Supplemental Terms and Conditions

1. Introduction

Veem Wallet is a service offered to select Veem customers in good standing by Veem Inc. (including its subsidiaries and affiliates, “Veem”).  Your relationship with Veem is governed by Veem’s Terms of Service, these Supplemental Terms and Veem’s Privacy Policy (collectively, “Terms”).  YOU AGREE TO ALL OF THE TERMS AND CONDITIONS IN THESE TERMS, AND ALL OTHER RULES, POLICIES AND PROCEDURES RELATING TO VEEM’S WALLET AND THAT VEEM MAY PROVIDE YOU FROM TIME TO TIME (AS DESCRIBED IN THESE TERMS).

“You” (and all of its derivations) means you individually and any person acting as your agent, under your authority, or with your permission, and if you are accepting these Terms on behalf of a company or other legal entity, that legal entity. You represent and warrant that you are: (i) at least 18 years of age (or the minimum age in your jurisdiction for entering into a binding contract), (ii) capable of entering into a legally binding agreement, and (iii) a legal resident of one of the countries where Veem operates. If you are entering into these Terms on behalf of a company or other legal entity, you further represent and warrant that: (1) you have the authority to bind the legal entity, (2) such legal entity is authorized to conduct business in the jurisdiction(s) in which you operate, and (3) all employees, officers, agents, and other representatives of the legal entity who use your Veem Wallet are duly authorized to access it and to engage in transactions using your Veem Wallet.

These Terms provide that all disputes between you and Veem will be resolved by BINDING ARBITRATION. YOU AGREE TO GIVE UP YOUR RIGHT TO GO TO COURT to assert or defend your rights under this contract, except for matters that may be taken to small claims court. Your rights will be determined by a NEUTRAL ARBITRATOR and NOT a judge or jury, and your claims cannot be brought as a class action. Please review Section 29 (“Dispute Resolution and Arbitration”) for the details regarding your agreement to arbitrate any disputes with Veem.

2. Setting up a Veem Wallet

The Veem Wallet is a service that permits Veem users to hold a balance of funds that they can later send to a bank account or other approved deposit instrument (e.g. debit card) associated with their Veem account, or use to make payments to another party using Veem. As a condition of holding a Veem balance and use money sent to you for Veem payments to other users or authorized parties, we must verify the required identifying information you provide to us.

Funds held in Veem wallet will be stored in a master bank account owned by Veem, as custodian and for the benefit of Veem customers. Such funds may be commingled with other funds similarly collected by and held by Veem for other wallet holders. Even though funds will be held in an account owned by Veem, the funds are held solely for the benefit of the Veem users, not Veem and the Veem user will be the principal with respect to those funds. Veem will not mix user funds with Veem corporate funds and Veem will not use customer funds for any corporate purposes, nor will Veem voluntarily make customer funds available to its creditors in the event of bankruptcy. Funds will be held in U.S. dollars. You will not receive interest on the funds that Veem holds on your behalf.

Veem is not an FDIC-insured depository institution, however, its wallet funds are held at Citibank, NA. Should Citibank enter FDIC receivership, the account will be eligible for FDIC pass-through insurance up to the applicable limit, subject to certain conditions and at the FDIC’s sole discretion.

3. Funding your Veem Wallet

a. Adding money. You may transfer money to your Veem account from an associated bank or other funding source enabled by Veem from time to time (e.g. a debit card).  When receiving payment from other parties using Veem, Veem may offer you the ability to have such funds deposited in your Veem account.

b. Transferring money out of Veem. Money in your Veem account may be transferred out of Veem to: (1) a bank account linked to your Veem account; (2) another approved deposit instrument (e.g. debit card) associated with their Veem account or (3) pay another party with an account on the Veem system.  We may set limits on your payment activity. The fees applicable to transferring money out of Veem and fees for sending payments will be presented to you in the withdrawal and payment flows.

c. Bank transfer reviews. We review account and transaction activity at various times, including when transfers are initiated. This review checks for, among other things, suspicious or illegal activity, and whether your account activity and the activity of users with whom you’ve transacted comply with this agreement. In connection with our review process, you may be required to provide us with additional information and/or documentation to verify your identity. We may limit your account and your access to money in it or that is sent to you until verification is completed. Reviews may result in:

• delayed, blocked or canceled transfers;
• money or payments being held by us;
• money or payments being applied to amounts you owe to us or used to offset the loss incurred by us;
• account limitation, suspension or termination;
• money or payments being seized to comply with a court order, warrant or other legal processes; and/or
• money or payments you previously received being reversed (i.e., sent back to the sender or to the card, bank account or Veem wallet that was used to fund the payment).

Among other reasons, we may take the above actions if you knowingly or unknowingly were a participant in a payment that was made from a compromised bank account, or compromised Veem account.  VEEM SHOULD ONLY BE USED TO TRANSACT WITH ACCOUNTS YOU KNOW AND TRUST. DO NOT USE VEEM TO TRANSACT WITH ACCOUNTS YOU DON’T KNOW.

4. Account Records

You may view your Veem account activity by logging into your Veem account on the Veem website.

5. Fees and limits

We may, at our discretion, impose limits on the amount and/or the number of payments you can send and receive.  The fees applicable to sending money will be presented to you at the time you confirm a payment using the system.

 6. Using Veem as a Payment Method

If you have access to a Veem balance and have enough balance to cover the entire payment, Veem will use your balance to fund your payment. Otherwise, Veem will charge the entire cost of the payment to the bank account or other funding method associated with your Veem account. Veem may offer you the option to use a combination of your Veem valance as partial payment with the balance being drawn from your bank account or other approved funding source. You will be presented with such options as part of the payment, and/or preferences settings for your account.

 7. Protecting and Updating Your Account Information

Passwords. You are responsible for keeping your Veem Wallet password secure and for all activities that occur through or by usage of your Veem Wallet, including the activities of others (whether or not the activities are authorized). You must immediately notify Veem of unauthorized access to or use of your Veem Wallet. Veem reserves the right to require you to change any of your passwords if Veem believes they are no longer secure.  Veem will not be liable for any loss or damages of any kind that may arise as a result of the unauthorized access to or use of your Veem Wallet or any Payment Information (with or without your knowledge), except to the extent the foregoing limitation is prohibited under applicable law.

Maintaining Up-to-date Information. You are solely responsible for maintaining up-to-date and accurate information pertaining to your Veem Wallet, including all Payment Information. Veem has no responsibility for the authenticity, validity, accuracy, or completeness of the Payment Information Veem transmits on your behalf.

8. Veem’s Rights

a. Our suspension and termination rights.  We, in our sole discretion, reserve the right to suspend or terminate this user agreement, access to or use of our websites, software, systems (including any networks and servers used to provide any of the Veem services) operated by us or on our behalf or some or all of the Veem services for any reason and at any time upon notice to you and, upon termination of this user agreement, the payment to you of any unrestricted money being held for you.

b. Security interest.  As security for the performance of your obligations under this user agreement, you grant to us a lien on, and security interest in and to, money in your Veem account and any other funds held in our possession.

c. Amounts owed to us.  We may deduct amounts owed to us, in whole or in part, from money that is sent to your Veem account later, either by you or from payments sent to you. While you owe amounts to us, we may: reverse payments you have sent; engage in collection and other efforts to recover such amounts from you, including, but not limited to, making attempts on your linked payment methods to cover the amounts; and place a limitation or take other action on your Veem account.

d. Insolvency proceedings.  If any proceeding by or against you is commenced under any provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, we will be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this agreement.

e. Assumption of rights.  If we invalidate and reverse a payment that you made to a recipient (either at your initiative or otherwise), you agree that we assume your rights against the recipient and third parties related to the payment, and may pursue those rights directly or on your behalf, in our discretion.

f. No waiver.  Our failure to act with respect to a breach of any of your obligations under this user agreement by you or others does not waive our right to act with respect to subsequent or similar breaches.

9. Indemnification and Limitation of Liability

a. Indemnification.  You must indemnify Veem for actions related to your Veem account and your use of the Veem services. You agree to defend, indemnify and hold Veem harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party due to or arising out of your breach of this user agreement, your improper use of the Veem services, your violation of any law or the rights of a third party and/or the actions or inactions of any third party to whom you grant permissions to use your Veem account or access our websites, software, systems (including any networks and servers used to provide any of the Veem services) operated by us or on our behalf, or any of the Veem services on your behalf.

b. Limitation of liability.  Veem’s liability is limited with respect to your Veem account and your use of the Veem services. In no event shall Veem be liable for lost profits or any special, incidental or consequential damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with our websites, software, systems (including any networks and servers used to provide any of the Veem services) operated by us or on our behalf, any of the Veem services, or this user agreement (however arising, including negligence), unless and to the extent prohibited by law.

Our liability to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, Veem is not liable, and you agree not to hold Veem responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from: (1) your use of, or your inability to use, our websites, software, systems (including any networks and servers used to provide any of the Veem services) operated by us or on our behalf, or any of the Veem services; (2) delays or disruptions in our websites, software, systems (including any networks and servers used to provide any of the Veem services) operated by us or on our behalf and any of the Veem services; (3) viruses or other malicious software obtained by accessing our websites, software, systems (including any networks and servers used to provide any of the Veem services) operated by us or on our behalf or any of the Veem services or any website or service linked to our websites, software or any of the Veem services; (4) glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems (including any networks and servers used to provide any of the Veem services) operated by us or on our behalf or any of the Veem services or in the information and graphics obtained from them; (5) the content, actions, or inactions of third parties; (6) a suspension or other action taken with respect to your Veem account; or (7) your need to modify your practices, content, or behavior, or your loss of or inability to do business, as a result of changes to this user agreement or our policies.

10. Disclaimer of Warranty and Release

a. No warranty.  The Veem services are provided “as-is” and without any representation or warranty, whether express, implied or statutory. We specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose and non-infringement.

We do not have any control over the products or services provided by sellers who accept Veem as a payment method, and we cannot ensure that a Veem user or a seller or buyer you are dealing with will actually complete the transaction or is authorized to do so. We do not guarantee continuous, uninterrupted or secure access to any part of the Veem services, and operation of our websites, software, or systems (including any networks and servers used to provide any of the Veem services) operated by us or on our behalf may be interfered with by numerous factors outside of our control. We will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, debit cards, and credit cards, as applicable, are processed in a timely manner but we make no representations or warranties regarding the amount of time needed to complete processing because the Veem services are dependent upon many factors outside of our control, such as delays in banking systems. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you.

b. Your Release of Us.  If you have a dispute with any other Veem account holder or other party that deposits funds to your Veem account, you release us from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. IN ENTERING INTO THIS RELEASE YOU EXPRESSLY WAIVE ANY PROTECTIONS (WHETHER STATUTORY OR OTHERWISE, FOR EXAMPLE, CALIFORNIA CIVIL CODE § 1542) THAT WOULD OTHERWISE LIMIT THE COVERAGE OF THIS RELEASE TO INCLUDE ONLY THOSE CLAIMS WHICH YOU MAY KNOW OR SUSPECT TO EXIST IN YOUR FAVOR AT THE TIME OF AGREEING TO THIS RELEASE.

11. Intellectual Property

We do not claim ownership of the content that you provide, upload, submit or send to us. When you provide content to us or post content using Veem services, you grant us (and parties that we work with) a non-exclusive, irrevocable, royalty-free, transferable, and worldwide license to use your content and associated intellectual property and publicity rights to help us improve, operate and promote our current services and develop new ones. We will not compensate you for any of your content. You acknowledge that our use of your content will not infringe any intellectual property or publicity rights. Further, you acknowledge and warrant that you own or otherwise control all of the rights of the content you provide, and you agree to waive your moral rights and promise not to assert such rights against us.

12. Termination

a. Term and Termination. These Terms will be effective until terminated as provided in this Section. Veem may suspend or terminate your access to your Veem Wallet, or your access or use of any Payment Information in your Veem Wallet at any time, with or without cause, and without notice, including in the event Veem believes (i) your contact information is not up-to-date or you do not respond to communications directed to you; (ii) the information you have provided to obtain your Veem Wallet is false, inaccurate, not current, or incomplete; (iii) you are engaged in illegal activity; (iv) you have breached any of these Terms; or (v) your Veem Wallet has been inactive for more than thirteen (3) months.  You may terminate these Terms with respect to Veem or for any reason or no reason at all, at your convenience, by ceasing all use of Veem services.

b. Effect of Termination. Upon termination of these Terms for any reason, the rights granted to you with respect to Veem Wallet will immediately terminate and you will have to immediately cease all use of the service. The terms, conditions, and warranties contained in these Terms that by their nature and context are intended to survive the termination of these Terms will survive. Veem will have no liability to you for any damages, loss of profits or other claims arising from the termination or suspension of your access to Veem Wallet.

13. Governing law

You agree that, except to the extent inconsistent with or preempted by federal law and except as otherwise stated in this user agreement, the laws of the State of California, without regard to principles of conflict of laws, will govern this user agreement and any claim or dispute that has arisen or may arise between you and Veem regarding your use of the Veem services.

14. Notifications

Unless provided otherwise by Veem in connection with Veem Wallet, all notices required from you under these Terms must be sent to the US headquarters address identified at veemdev.wpengine.com/contact/.  Notices to be sent related to Arbitration must be delivered as set forth in Section 17. You consent to receive certain electronic communications from us as further described in our Privacy Policy. Please read our Privacy Policy to learn more about our electronic communications practices. You agree that any notices, agreements, disclosures, or other communications that we send to you electronically will satisfy any legal communication requirements, including that those communications be in writing.

15. Entire Agreement

The Terms constitute the entire agreement between you and Veem with regard to their subject matter.

16. Relationships of the Parties

These Terms do not create and must not be construed as creating a joint venture, co-ownership, partnership, or agency relationship between you and Veem.

17. Interpretation

The section headings in these Terms are for convenience only and have no legal or contractual effect. For purposes of these Terms, (a) the words “include,” “includes” and “including” will be deemed to be followed by the words “without limitation;”; (b) the words “such as”, “for example” “e.g.” and any derivatives of those words will mean by way of example and the items that follow these words will not be deemed an exhaustive list; (c) the word “or” is used in the inclusive sense of “and/or” and the terms “or,” “any,” and “either” are not exclusive; and (d) the singular includes the plural and the plural includes the singular. No ambiguity will be construed against any party based on a claim that the party drafted the language.

18. Assignment

You may not assign or transfer your rights or obligations under these Terms. Any purported transfer or assignment in violation of the foregoing will be invalid.

19. Force Majeure

Veem will not be liable for any delay or failure to perform its obligations hereunder resulting from any cause beyond its reasonable control, including without limitation, telecommunications, power or utility failures.

20. Miscellaneous

Veem is only a payment service provider. We act as a payment service provider only. We do not:

• Act as an escrow agent with respect to any money sent to you on Veem that has not been transferred;
• Act as your agent or trustee;
• Enter into a partnership, joint venture, agency or employment relationship with you;
• Guarantee the identity of any user or seller;
• Determine if you are liable for any taxes; or
• Unless otherwise expressly set out in this agreement, collect or pay any taxes that may arise from your use of our services.

Last Updated: June 5, 2023

Consent to Electronic Delivery

CONSENT TO ELECTRONIC DELIVERY OF COMMUNICATIONS AND USE OF ELECTRONIC SIGNATURES

This E-SIGN Disclosure and Consent (“Consent”) allows Veem Inc., on behalf of itself, its affiliates and any service providers (“Veem” or “We”), to provide you (“You” or “Your”) with electronic versions of communications, notices, agreements, statements, or disclosures (“Communications”) associated with Your Veem account or Your use of or interactions with Veem’s products, services, or other offerings (collectively, the “Service”).

By enrolling in or using the Service, You are agreeing to this Consent and that Veem may, in its sole discretion, send You Communications electronically by email, text, or by making them accessible via the Veem websites or applications. 

All Communications provided electronically to You under this Consent will be considered to have been provided “in writing.”

Communications covered by this Consent include, but are not limited to: (1) agreements, disclosures, policies and notices related to Your Veem account or Your use of the Service (such as Veem’s Terms of Use, Privacy Policy and Acceptable Use Policy), (2) Veem payment or transaction records, (3) account statements and history, and (4) any disclosure or notice required under applicable federal, state or local law to be provided “in writing”.

This Consent also allows Veem to use electronic signatures and obtain them from You.

 
Electronic Delivery of Documents: System Requirements

Electronic Communications may be sent to You by email, text, or may be made available on the Veem websites or applications, as permitted by law. By providing Your consent here, You are confirming that You have access to the computer hardware and software needed to access these electronic Communications, including but not limited to:

• An internet-ready device (including a computer, tablet, mobile phone, or other similar device),
• A reliable connection to the internet,
• Recent internet browser software with 256-bit encryption, supported browsers include Google Chrome, Microsoft Edge, Mozilla Firefox, and Apple Safari,
• A valid email address and access that email account,
• Access to software that allows print, download, or otherwise store electronic Communications, and
• A mobile device with a recent device operating system that supports email, text messages and attachments.

 
Keeping Your Contact Information Updated

It is Your responsibility to keep Your primary email address and other electronic addresses up-to-date so that Veem can communicate with You electronically. By consenting here, You agree that if We send you an electronic Communication but You do not receive it because Your electronic addresses are incorrect or out-of-date, or You cannot receive electronic Communications as provided under this Consent, Veem will have met any requirement to provide the Communication to You.

 
FOR CONSUMERS ONLY: Withdrawing Your Consent

If You are, or You are acting on behalf of, an individual using the Service for personal, family or household purposes, You may withdraw this Consent at any time. If You decide to withdraw this Consent because You do not want to receive future Communications electronically, You can contact Veem Customer Support through our customer support. Your withdrawal of this Consent will become effective after We have had a reasonable opportunity to process it and upon confirmation by You of an up-to-date address for delivery of paper copies of Communications.

PLEASE BE AWARE, HOWEVER, THAT IF YOU WITHDRAW THIS CONSENT, VEEM MAY RESTRICT OR TERMINATE YOUR USE OF THE SERVICE.

 
Requesting a Paper Copy of Electronic Communications

If You do not wish to withdraw this Consent, but You wish to obtain a paper copy of a Communication that was provided electronically, You can contact Veem Customer Support through our customer support.

 
Termination or Changes to the Consent

We reserve the right, in our sole discretion, to terminate or change this Consent or the way in which We provide You with Communications.

Electronic Funds Agreement

ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURES & ERROR RESOLUTION NOTICE

Electronic Funds Transfer Agreement and Disclosures

This electronic funds transfer (“EFT”) agreement and disclosure (“EFT Agreement”) is made in compliance with federal law regulating EFT services. All capitalized terms not defined in this EFT Agreement have the meanings given to them in the Veem Terms of Use.

This EFT Agreement applies to you if you are, or if you are acting on behalf of, an individual who is using the Veem Service for personal, family or household purposes. This EFT Agreement does not apply to any electronic transfers initiated through the Veem Service to or from a business bank account, or for a commercial purpose. If this EFT Agreement applies to you, by continuing to use or interact with the Veem Service after receiving a copy of this EFT Agreement, you are consenting to and accepting the terms of this EFT Agreement.

(a) Your Liability for Unauthorized Transfers Made Through Your Veem Account

Through the Veem Service and using your Veem Login Credentials, you may initiate EFT payment transactions to and from your linked accounts through electronic payment systems.

An “unauthorized transfer” occurs when an EFT payment is made through your Veem account or using your Veem Login Credentials, and you neither authorized that payment nor benefited from the payment. As an example: if someone steals your Veem Login Credentials and uses those Login Credentials to access your Veem account and send an EFT payment without your permission, that transfer is unauthorized. Please note, however, that an unauthorized transfer will not have occurred if you give someone access to your Veem Login Credentials, even if that person uses your Login Credentials without your permission, unless you previously notified Veem that you shared your credentials with someone who isn’t authorized to use your account so that we could take appropriate action.

To help you protect yourself against unauthorized activity and monitor your account and transactions in real time, we provide you with a full transaction history for your account that can be accessed at any time from any device through your Veem account. This transaction history includes: the amount, date and type of each payment made through your account; the payment account(s) used; and information about the payor and payee. The transaction history will also provide you with our contact information in case you have any questions or concerns about a transaction. We recommend that you regularly log in to your Veem account to review your transaction history.

You must TELL US AT ONCE if you believe your Login Credentials have been lost or stolen, or your Veem account has been otherwise compromised, or if you believe that an unauthorized transfer has been made from your account. 

If you tell us within 2 business days after you learn of the loss or theft of your Login Credentials or of the compromise of your Veem account, you can lose no more than $50 if someone used your Login Credentials or account without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your Login Credentials or of the compromise of your Veem account, and we can prove we could have stopped someone from using your Login Credentials or Veem account if you had told us within 2 business days, you could lose as much as $500.

If you believe there is an unauthorized transfer on your account, you must tell us AT ONCE, but at least within 60 days of the transfer posting to your Veem payment history. If you do NOT tell us within 60 days of the unauthorized transfer posting to your Veem payment history, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

If a good reason (such as a long trip or a hospital stay) kept you from telling us about the loss or theft of your Login Credentials or the compromise of your Veem account, or about an unauthorized transfer on your account, we will extend the time periods above.

(b) Who to Contact for Unauthorized Transfers or Other Concerns

If you believe that your Veem Login Credentials have been lost, stolen, or otherwise compromised, or you believe there may be an unauthorized transfer on your Veem account, you must contact us IMMEDIATELY through our customer support.

(c) Our Business Days

For purposes of these disclosures, our business days are Monday through Friday. Holidays are not included.

(d) Transfer Types and Limitations

(1) Account access. You may use your Login Credentials and the Veem Service as provided in our Terms of Use.

(2) We may limit the frequency and available of transfers as provided in our Terms of Use.

(3) We may limit the dollar amount of transfers, on a per transaction or cumulative basis, as provided in our Terms of Use.

(e) Fees

(1) Per transfer charge. We will charge you a transaction fee for each EFT you make using the Veem Service. Information on transaction fees is available here.

(2) Fixed charge. From time to time we may offer a subscription service offering.  If you participate in such a plan, we will charge you a monthly subscription fee for the Veem service. Information on monthly subscription fees is available here.

(f) Confidentiality

We will disclose information to third parties about your account or the EFTs you make:

(i) Where it is necessary for completing transfers, or

(ii) In order to verify the existence and condition of your account for a third party, or

(iii) In order to comply with government agency or court orders, or

(iv) As otherwise provided in our Privacy Policy, or

(v) If you give us your written permission.

(g) Transaction History

You will get a full transaction history for your account that can be accessed at any time from any device through your Veem account.

(h) Preauthorized Payments

(1) Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here’s how:

You may make changes to scheduled payments through your Veem account, or you may contact our customer support, in time for us to receive your request 3 business days or more before the payment is scheduled to be processed. If you reach out to us through our customer support portal, we may also require you to put your request in writing and get it to us within 14 days after you call. We may charge you a fee for each stop-payment order that you give.

(2) Notice of varying amounts. If these regular payments may vary in amount, we will tell you, at least 10 days before each payment, when it will be made and how much it will be.

(3) Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled to be processed, and we do not do so, we will be liable for your losses or damages.

(i) Our Liability for Incomplete EFTs

If we do not complete an EFT to or from your account on time or in the correct amount according to our Terms of Use, we will be liable for your losses or damages. However, there are some exceptions.

We will not be liable, for instance:

(1) If, through no fault of ours, you do not have enough money in your linked account to make the transfer.

(2) If the Veem system was not working properly and you knew about the breakdown when you started the transfer.

(3) If circumstances beyond our control (such as a fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

(4) Other exceptions as stated in our Terms of Use.

Error Resolution Notice

For purposes of this EFT Agreement, an error includes the following:

• An unauthorized transfer.
• You send a payment through the Veem Service and an incorrect amount is debited from your account.
• You receive a payment through the Veem Service and an incorrect amount is credited to your account.
• An EFT payment does not appear in your Veem account transaction history.
• An EFT payment does not appear correctly in your Veem account transaction history.
• Your request for information about your account related to an EFT transaction(s), including for information needed to determine whether an error has occurred.
• An inquiry into the status of a pending EFT payment transaction.
• You request account or transaction documentation related to an EFT payment documentation, other than a request for a duplicate copy, a request for tax or recordkeeping purposes or a request for a paper copy when you have consented to electronic delivery.

An error does not include the following:

• A routine inquiry about your Veem account balance.
• Your request for account or transaction documentation related to an EFT payment documentation if that request is for a duplicate copy, for tax or recordkeeping purposes, or for a paper copy when you have consented to electronic delivery.

If you believe there is an unauthorized transfer or other error on your Veem account, or if you need more information about your account to determine if there is an unauthorized transfer or other error on your account, contact us through our customer support portal AS SOON AS YOU CAN. We must hear from you no later than 60 days after the transfer or error posted to the payment history on your Veem account.

We will investigate and, where appropriate, resolve any suspected error that you report within 60 days of the error posting to your Veem account. We may also investigate and/or resolve suspected errors that are reported after 60 days of posting to your Veem account, in our sole discretion.

When you contact us, be prepared, if possible, to:

(1) Tell us your name and account number (if any).

(2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

(3) Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three (3) business days after completing our investigation. If we decided that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Privacy Policy

This Privacy Policy explains our online and offline information practices, the kinds of information we may collect, how we intend to use and share that information, and how you can opt-out of a use or correct or change such information.   The terms “Veem,” “us,” “we,” and “our” refer to Veem Inc. and its affiliates. The terms “you” and “your” refer to any person or business that applies or signs up for a Veem account, or accesses or uses any Veem application, product, service, feature, technology, content, or website (collectively, “Services”).

Scope and Consent

This Privacy Policy applies to Personal Information that is Processed by Veem in the course of our business, including through our Services.  “Personal Information” is any information relating to an identified or identifiable natural person. “Process” or “Processing” means any operation that we perform on Personal Information.

This Privacy Policy is intended to meet requirements globally, including those in North America, Europe, APAC, and other jurisdictions.

This Policy applies to all Veem’s operating divisions, subsidiaries, affiliates, and branches, including Veem Payments Inc. and any additional U.S. subsidiary, affiliate, or branch of Veem that we may subsequently form.

You accept the terms of this Privacy Policy and consent to our collection, use, disclosure and retention of your information as described in this Privacy Policy (including to contact you), and for all other purposes permitted under applicable personal information privacy statutes, credit bureau reporting rules, anti-spam legislation, and consumer protection laws.

Collection of Personal Information

We collect Personal Information about you to deliver Services.

Personal Information You Provide Directly to Us

We collect information you provide when you apply or sign up for a Veem account or use Veem Services and when you provide information as part of our identity or account verification process.  We may collect information about you, including but not limited to:

• Identification information, such as your name, email address, mailing address, phone number, photograph, birthdate, passport, driver’s license, Social Security, Taxpayer Identification, or other government-issued identification number;
• Financial information, including bank account and payment card numbers;
• Tax information, including withholding allowances and tax filing status; and

Other historical, contact, and demographic information.  We may collect Personal Information from you such as email address, phone number or mailing address when you contact us to request information about our Services, register for our newsletter that we may offer, request to receive customer or technical support, or otherwise communicate with us.

We also collect information you upload to or send through our Services, including but not limited to:

• Information about products and services you purchase or sell;
• Information you provide about you or your authorized users, representatives, or beneficial owners; and
• Information you provide to counterparties using our Services (for example, invoice information).
• Information you post in comments on the blog on our website. These comments will be visible to the public.

Some of the information we collect is collected to comply with laws and regulations, including anti-money laundering and anti-terrorist financing laws.

Personal Information We Collect from Your Use of our Services

We collect information about you when you use our Services, including but not limited to:

• Device Information. We may collect specific information about the computer or mobile device (“device”) used when you access our Services, including your hardware model, operating system and version, unique device identifier, internet service provider, mobile network information, and information about the device’s interaction with our Services.  We may also identify other software running on the device for anti-fraud and malware-prevention purposes, but we will not collect any content from such software.
• Location Information. Through our applications, we may collect information about the location of your device.
• Use Information. We collect information about how you use our Services, including your access date and time, browser type and language, and Internet Protocol (“IP”) address.
• Transaction Information. When you use our Services to make, accept, request, or record payments or money transfers, we may collect information about when and where the transactions occur, the names of the transacting parties, a description of the transactions, the payment or transfer amounts, billing and shipping information, and the devices and payment methods used to complete the transactions.
• Information Collected by Cookies and Web Beacons. We use various technologies to collect information when you use our Services, including sending cookies to your device and using web beacons.  Cookies are small data files that are stored on your hard drive or in your device memory when you visit a website or view a message. Among other things, cookies support the integrity of our registration process, retain your preferences and account settings, and help evaluate and compile aggregated statistics about user activity.  For more information and to learn how to block or delete cookies used in the Services, please see “Your Choices” below. We also may collect information using web beacons. Web beacons are electronic images that may be used in our Services or emails. We may use web beacons to deliver cookies, track the number of visits to our website, understand usage and campaign effectiveness, and determine whether an email has been opened and acted upon.

Personal Information We Collect from Other Sources

We may also collect information about you from third parties, including third-party verification services, credit bureaus, mailing list providers, and publicly available sources.  In some circumstances, where lawful, this information may include your government-issued identification number. By applying or signing up for a Veem account, you authorize and consent to our obtaining from, and disclosing to, third parties, from time to time, any information about you in connection with the processing of any credit investigation, identity or account verification, fraud detection, or collection procedure, or as may otherwise be required by applicable law.  This includes, where lawful, the receipt and exchange of account or credit-related information with any credit reporting agency or credit bureau.

We use Plaid Technologies, Inc. (“Plaid”) to gather information about you from financial institutions.  By using our Services, you grant us and Plaid the right, power, and authority to act on your behalf  from time to time to access and transmit your personal and financial information from the relevant financial institution.  You agree to your personal and financial information being transferred, stored, and processed by Plaid in accordance with the Plaid Privacy Policy located at www.plaid.com/legal.

Third-Party Advertising and Analytics

We may allow third-party service providers to deliver content and advertisements in connection with our Services and to provide anonymous site metrics and other analytics services.  These third parties may use cookies, web beacons, and other technologies to collect information, such as your IP address, identifiers associated with your device, other applications on your device, the browsers you use to access our Services, webpages viewed, time spent on webpages, links clicked, and conversion information (e.g., transactions entered into).  This information may be used by Veem and third-party service providers on behalf of Veem to analyze and track usage of our Services, determine the popularity of certain content, deliver advertising and content targeted to your interests, and better understand how you use our Services. The third-party service providers that we engage are bound by confidentiality obligations and other restrictions with respect to their use and collection of your information.

This Privacy Policy does not apply to, and we are not responsible for, third-party cookies, web beacons, or other tracking technologies, which are covered by such third parties’ privacy policies.  For more information, we encourage you to check the privacy policies of these third parties to learn about their privacy practices. For more information about targeted advertising specifically, please visit www.aboutads.info/choices.

Third-Party Websites, Social Media Platforms, and Software Development Kits

Our website may contain links to other websites, and other websites may reference or link to our website or other Services.  These other domains and websites are not controlled by us, and Veem does not endorse or make any representations about third-party websites or social media platforms.  We encourage our users to read the privacy policies of each and every website and application with which they interact. We do not endorse, screen or approve, and are not responsible for, the privacy practices or content of such other websites or applications.  Visiting these other websites or applications is at your own risk.

Our Services include a publicly accessible blog.  Our website and our other Services may also contain links and interactive features with various social media platforms (e.g., widgets).  If you already use these platforms, their cookies may be set on your device when using our website or other Services. You should be aware that information which you voluntarily include and transmit online in a publicly accessible blog, chat room, social media platform, or otherwise online, or that you share in an open forum may be viewed and used by others without any restrictions.  We are unable to control such uses of your information when interacting with a social media platform, and by using such services you assume the risk that the information provided by you may be viewed and used by third parties for any number of purposes.

We use third-party software development kits (“SDKs”) provided by HotJar and Amplitude as part of the functionality of our Services for analytics purposes to help us understand how you use our website.  You may opt out HotJar’s SDK on your browser at https://www.hotjar.com/legal/compliance/opt-out. If you would like to opt-out of Amplitude’s collection, please contact us at compliance@veem.com.

Use of Your Personal Information

We acquire, hold, use, and Process Personal Information about you for a variety of business purposes, including:

To Provide Products, Services, or Information Requested

We may use Personal Information about you to provide, maintain, and improve our products, Services, or information, such as:

• Processing or recording payment transactions;
• Displaying historical transaction information;
• Accessing certain areas, functionalities, and features of Veem’s services, such as business resources; and
• Delivering the information and support you request.

We also may contact you to resolve disputes, collect fees, and provide assistance for problems with our Services or your Veem account.

Research and Development

We may use Personal Information about you to improve, personalize and facilitate your use of our Services.  We also may use Personal Information about you to measure, customize, and enhance our Services, including the design, content, and functionality of our applications and websites, or to track and analyze trends and usage in connection with our Services.

Sharing Content with Your Contacts

We may use Personal Information you provide to connect you with people you already know.  For example, you may upload contact information from your address book or accounting software.  We will use that information to help make transactions easier to initiate or fulfill.

List My Business Directory

Veem offers on online directory of users called List My Business that enables users of our services to connect with one another. Veem may use personal information you provided in connection with this service. Participation in this service is strictly optional. You may modify your participation in this program under the Business Settings tab in the Customer Portal.

Marketing Veem Products and Services

We may use Personal Information about you to send you news and information, or to conduct surveys and collect feedback, about our Services.  We may communicate with you about products, services, contests, promotions, discounts, incentives, and rewards offered by us and select partners, based on your communication preferences and applicable law.

You may contact us at any time to opt-out of the use of your Personal Information for marketing purposes, as further described below.

Other Uses

We may use Personal Information about you:

• To protect our rights or property, or the security or integrity of our Services;
• To enforce the terms of our Terms of Use or other applicable agreements or policies;
• To verify your identity (e.g., some of the government-issued identification numbers we collect are used for this purpose);
• To investigate, detect, and prevent fraud, security breaches, and other potentially prohibited or illegal activities;
• To comply with any applicable law, regulation, legal process, or governmental request, including to meet obligations to verify customer identities under the Patriot Act;
• For any other purpose disclosed to you in connection with our Services.

Sharing of Information

We may share Personal Information about you as follows:

• With our group companies and other affiliates for the purposes outlined above;
• With third parties to provide, maintain, and improve our Services, including service providers who access information about you to perform services on our behalf (e.g., fraud prevention, identity verification, and fee collection services), as well as financial institutions, payment networks, payment card associations, and other entities in connection with the payment or money transfer process. As noted above, we share your Personal Information with Plaid Technologies, Inc. (“Plaid”) to gather information about you from financial institutions;
• With financial institutions or other working capital providers we partner with to offer you lending or working capital products
• With third parties that run advertising campaigns, contests, special offers, or other events or activities in connection with our Services;
• With other users of our Services with whom you interact through your own use of our Services. For example, we may share information when you make or accept a payment using our Services;
• In connection with, or during the negotiation of, any merger, sale of company stock or assets, financing, acquisition, divestiture, or dissolution of all or a portion of our business; or
• If we believe that disclosure is reasonably necessary (i) to comply with any applicable law, regulation, legal process or governmental request (e.g., from tax authorities), (ii) to enforce or comply with the terms of our Terms of Use or other applicable agreements or policies, (iii) to protect our rights or property, or the security or integrity of our Services, or (iv) to protect us, users of our Services, or the public from harm or potentially prohibited or illegal activities.

We also may share aggregated information with third parties that does not specifically identify you or any individual user of our Services.

International Data Transfers

You agree that all Personal Information collected via or by Veem may be transferred, processed, and stored anywhere in the world, including but not limited to, the United States, in the cloud, or on the servers of our service providers.  Your Personal Information may be accessible to law enforcement or other authorities pursuant to a lawful request. By providing information to Veem, you explicitly consent to the storage of your Personal Information in these locations.

Your Choices

Personal Information

You may access, change, correct, or delete Personal Information about you by logging into your Veem account at any time or by contacting us.  We may need to verify your identity before granting access or otherwise changing, correcting, or deleting your information.

Where otherwise permitted by applicable law, you may send an e-mail to compliance@veem.com or use any of the methods set out in this Privacy Policy to request access to, receive (port), seek rectification, or request erasure of Personal Information held about you by Veem. Please include your full name, email address associated with your Account, and a detailed description of your data request. Such requests will be processed in line with local laws.

Although we will make good faith efforts upon your request to provide you with access to your information, there may be circumstances in which we are unable to provide access, including but not limited to: where the information contains legal privilege, would compromise others’ privacy or other legitimate rights, where the burden or expense of providing access would be disproportionate to the risks to your privacy, or where it is commercially proprietary.  If we determine that access should be restricted in any particular instance, we will provide you with an explanation of why that determination has been made and a contact point for any further inquiries.

Deactivating Your Account

You may deactivate your Veem account by logging into your Veem account or by emailing us using the contact details provided below.  We may retain archived copies of Personal Information about you and any transactions or Services you used for a period of time that we believe is reasonably necessary to comply with applicable law, regulation, legal process, or governmental request, to prevent fraud, to collect fees owed, to resolve disputes, to address problems with our Services, to assist with investigations, to enforce our Terms of Use or other policies, or to take any other actions consistent with applicable law.

Cookies and Internet-Based Advertising

When you access or use the Services, to help make your experience simpler, our web server may send a cookie to your device.  Certain cookies we use last only for the duration of your web or application session and expire when you close your browser or exit the application.  Other cookies are used to remember you when you return to use the Services and, as such, will last longer.

We may use cookies to:

• Remember that you have visited us or used the Services before.
• Customize elements of content of our website or application for your experience.
• Collect anonymous statistical information about how you use the Services (including the length of your web or application session) and the location from which you access the Services, so that we can improve the Services and learn which elements and functions of the Services are most popular with our users.

Some of the cookies used in the Services are set by us, and others are set by third parties who deliver services on our behalf.

Most web and mobile device browsers are set to automatically accept cookies by default.  However, you can change your browser settings to prevent automatic acceptance of cookies, or to notify you each time a cookie is set.

You also can learn more about cookies by visiting www.allaboutcookies.org, which includes additional useful information on cookies and how to block cookies on different types of browsers and mobile devices.  Please note, however, that by blocking or deleting cookies used in the Services, you may not be able to take full advantage of the Services.

The online advertising industry also provides websites from which you may opt-out of receiving targeted ads from our data partners and our other advertising partners that participate in self-regulatory programs.  You can access these, and also learn more about targeted advertising and consumer choice and privacy, at www.networkadvertising.org/managing/opt_out.asp, or www.youronlinechoices.eu and www.aboutads.info/choices.  You can also choose not to be included in Google Analytics here.

To be clear, whether you are using our opt-out or an online industry opt-out, these cookie-based opt-outs must be performed on each device and browser that you wish to have opted-out.  For example, if you have opted-out on your computer browser, that opt-out will not be effective on your mobile device. You must separately opt-out on each device. Advertisements on third-party websites that contain the AdChoices link and that link to this Privacy Policy may have been directed to you based on anonymous information collected by advertising partners over time and across websites.  These advertisements provide a mechanism to opt-out of the advertising partners’ use of this information for interest-based advertising purposes.

Do Not Track

Do Not Track (“DNT”) is an optional browser setting that allows you to express your preferences regarding tracking across websites.  We currently do not respond to DNT signals. We may continue to collect information in the manner described in this Privacy Policy from web browsers that have enabled DNT signals or similar mechanisms.

Promotional Communications

You may opt out of receiving promotional messages from Veem by following the instructions in those messages or by changing your notification settings by logging into your Veem account.  We will process your request within a reasonable time after receipt. If you decide to opt out, we may still send you non-promotional communications, such as digital receipts and messages about your account or our ongoing business relations.

Children’s Information

Our website and Services are not targeted or directed at children under the age of 13 and do not knowingly collect or store any personal information about children under the age of 13. If you learn that your child has provided us with Personal Information without your consent, you may alert us at the contact information provided below.  If we learn that we have collected any Personal Information from children under 13 (and in certain jurisdictions under the age of 16), we will promptly take steps to delete such information and terminate the child’s account.

California Privacy Rights

California law permits residents of California to request and receive once each calendar year certain details about information we have disclosed to third parties for those third parties’ direct marketing purposes during the immediately preceding calendar year.  If you are a California resident and would like to request this information, please contact us at the address listed below.

Security of Your Information

We take reasonable measures, including administrative, technical, and physical safeguards, to protect your Personal Information from loss, theft, misuse, and unauthorized access, disclosure, alteration, and destruction.  We hold Personal Information about you at our own premises and with the assistance of third-party service providers. We restrict access to Personal Information to those Veem employees, contractors, and agents who need to know that information in order to transmit, store, or Process it, who are subject to contractual confidentiality obligations consistent with this Privacy Policy, and who may be disciplined or terminated if they fail to meet these obligations.  Our third-party service providers store and transmit Personal Information in compliance with this Privacy Policy and other appropriate confidentiality and security measures.

Nevertheless, Veem cannot guarantee that unauthorized third parties will never be able to defeat our security measures or use your Personal Information for improper purposes.  If information in our possession or under our control is compromised as a result of a security breach, we will take reasonable steps to investigate the situation and, where appropriate, notify those individuals whose information may have been compromised and take other steps in accordance with applicable laws or regulations.

Amendment

We may amend this Privacy Policy from time to time by posting a revised version and updating the “Last updated” date below.  The revised version will be effective at the time we post it. We will provide you with reasonable prior notice of substantial changes in how we use your information, including by email at the email address you provide or as otherwise required by law.  Where these changes would cause material detriment to you, you may of course cancel your account at any time. We encourage you to review this Privacy Policy whenever you use our Services to stay informed about our information practices and the choices available to you, and to contact us if you have any questions about these changes.  Your continued use of our Services constitutes your acceptance of any amendment of this Privacy Policy.

Contact

If you have any questions or concerns regarding our Privacy Policy, or if you believe our Privacy Policy or applicable laws relating to the protection of your personal information have not been respected, you may file a complaint with our Compliance Department and we will respond to let you know who will be handling your matter.  We may request additional details from you regarding your concerns and may need to engage or consult with other parties in order to investigate and address your issue. We will keep records of your request and any resolution.

Veem Inc.

1160 Battery St. East, Suite 100,
San Francisco CA 94111

compliance@veem.com

If you are an EU or Swiss citizen and feel that Veem is not abiding by the terms of this Policy, please contact Veem at the contact information provided above.

Compliance

This Policy shall be implemented by Veem and all its operating divisions, subsidiaries and affiliates. Veem has put in place mechanisms to verify ongoing compliance with this Policy. Any Employee that violates these privacy principles will be subject to disciplinary procedures;

Updated June 5, 2023

Anti-Money Laundering Approach

Veem is committed to Anti-Money Laundering (AML) compliance and Anti-Terrorist Financing and has built policy, procedures and reporting to prohibit use of Veem system for such activities.

In support of our AML and Anti-TF policy and procedures Veem must:

• Identify our customers (KYC): Customer information is collected during registration and during transactions. Based on the risk, Veem will ensure that it has a reasonable belief of the true identity of our customers. In verifying customer Veem will perform enhanced due diligence for those customers presenting higher risk and may require additional information such as photo identification.
• Monitoring transactions and activity: Veem has a risk based system and procedures to monitor on-going customer activity to detect fraud as well as money laundering activities including but not limited to placement, layering and integration of funds.
• Reporting: Procedures for reporting suspicious activity internally and to the relevant law enforcement authorities as appropriate.

Veem is prohibited from transacting with individuals, companies and countries that are on prescribed Sanctions lists. Veem will therefore screen against European Union, US Office of Foreign Assets Control (OFAC) and other global sanctions lists in all jurisdictions in which we operate.

Veem Acceptable Use Policy

This Acceptable Use Policy lists items and activities that Veem prohibits or limits because they may be illegal or inappropriate in connection with the use of our services and applies to any person or entity using our payment service and any transactions that we are asked to process. Veem retains full rights over the customers and the industry types we elect to service. We may amend this Acceptable Use Policy at any time by posting a revised version on our website.

A. Illegal Activities

Veem does not provide services to customers engaged in services that violate any law, statute, ordinance or regulation.

B. Prohibited Business Types and Activities

Veem does not provide services to customers engaged in services and transactions that involve or support the following:

Internet pharmacies, internet pharmacy referral sites, pharmaceutical, synthetic drugs, drugs or drug paraphernalia, prescription drugs, any payment for sexual services, bestiality, rape/violence, bride catalogs, escort services, items considered obscene, certain sexually oriented materials or services, trading of items or support of organizations that promote hate, violence, or racial intolerance, multi-level marketing businesses and money making schemes, pawn shops, payday loans, counterfeit goods, illegal or Stolen goods or services, gambling, poker chips, lotteries, trading of crypto-currency/blockchain, malware, spyware, phone unlocking services, communications jammers, illegal downloads or any other goods and services infringing intellectual property rights (trademark, patent, copyright) of a third party, tobacco products or vaping, inhalants, alcohol sales to consumers, marijuana/Cannabis/CBD Any activities related to the processing, distribution and sale, firearms, ammunition, weapons, certain knives regulated under applicable law, used vehicles purchase

C. Cautionary Business Types and Activities Requiring Approval

Veem requires enhanced review and pre-approval for certain services as detailed below:

Medical tourism, buyer clubs/membership clubs, credit counseling/credit repair services, credit protection/identity theft protection, affiliate and direct marketing-subscription merchants, infomercial merchants, outbound telemarketers/Telephone Up-Sellers, including, but are not limited to, discount buying clubs, discount travel clubs, credit card protection/registration and protection services, cosmetics, health-care products and vitamins, travel, tickets, & events, E-books, alcohol not related to sales to consumers, auction/bid, PC technical support, unlock software/services, cyberlockers, unlicensed financial advisory services, astrology/Tarot card, dating services, online marketplaces, money services businesses (MSB), crypto related businesses not related to trading of crypto-currency/blockchain, gold, diamonds, precious metals, jewelry, luxury goods, not for profit organizations, nutraceuticals, marijuana/cannabis/CBD not related to processing, distribution and sale, real estate purchase, escrow services

Effective October 2023

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