Bill Pay Terms

Revision Date: February 17, 2022

These Bill Pay Terms are subject to the Subscription Services Agreement (together with the Order Form signed by Procurify and the Customer, the “Agreement”). All capitalized terms used here that are not defined have the meaning given to them in the Agreement.

1. Defined Terms

For the purposes of these Bill Pay Terms, the following terms have the meanings given to them below:

2. Creation of Financial Account

3. Authorized User Fraud

Procurify will not hold Customer responsible for or seek to collect from Customer any loss caused by or resulting from any Authorized User’s fraud, misuse, or negative balance transactions involving the Financial Account except to the extent such loss was caused by Customer’s breach of a representation, warranty, or covenant of the Agreement or Bill Pay Account Agreement or if Customer (or Customer’s employees, agents or representatives) participated in, had or should have had knowledge of any deceptive, fraudulent or other illegal activity. Subject to applicable Law, Customer agrees to comply with all reasonable requests made by Procurify to investigate, prevent, and recover sums due relating to any actual or suspected loss, fraud, or other improper use of any Financial Account created by Customer or on Customer’s behalf. Procurify reserves the right to suspend or cancel any Financial Accounts if it believes such Financial Account is being used for illegal or improper purposes.‍

4. Customer Identification and Recordkeeping.

5. Anti-Money Laundering Disclosure

To help governments fight the funding of terrorism and money laundering activities, certain regulations require financial institutions and their third parties to obtain, verify, and record information that identifies each person or company who opens an account. If the Customer requests that Procurify provide a Financial Account that requires a financial institution, including Stripe or a Bank, to establish accounts for the Customer or its Authorized Users, that financial institution may require the Customer’s business name, address, federal tax ID, and other information that will allow the financial institution to identify the Customer.  In some cases, the Customer may be required to provide identifying business documents. The Customer acknowledges and agrees that if the Customer does not provide such information or documents to the financial institution, including Stripe or a Bank, Procurify will not have any obligation to offer the Customer a Financial Account.

6. Transaction Fees

The Fees applicable to the Customer for use of the Bill Pay Services and Financial Account, including transaction, service, and other fees, are governed by the Agreement and the pricing terms found at www.procurify.com/legal/fees-and-rates. Some Fees, including transaction fees, may be subject to change from time to time, with or without notice, according to the Agreement and Bill Pay Account Agreement, as applicable.

7. Interest

Financial Account balances may accrue interest according to the terms of an applicable Order Form, applicable Laws, the Agreement, or the Bill Pay Account Agreement, as applicable. Other than as expressly stated in such Laws or agreements, Procurify has no obligation to pay interest to the Customer on any Financial Account balance and the Customer expressly acknowledges that Procurify has no liability for failure to pay interest to the Customer on Financial Account balances except as otherwise provided herein.

8. Cash Back

9. Limitation on Liability

Without limiting the application of the other exclusions and limitations of liability under section 13 of the Subscription Services Agreement, the Customer acknowledges and agrees that the Bill Pay Services are offered “as-is” without any warranty or guarantee of any kind. PROCURIFY IS NOT LIABLE FOR ANY INTEREST, PENALTIES, CHARGES, OR OTHER AMOUNTS INCURRED BY, CHARGED TO, OR OTHERWISE PAYABLE BY THE CUSTOMER DUE TO A PAYMENT MADE THROUGH THE BILL PAY SERVICES NOT BEING RECEIVED BY THE INTENDED RECIPIENT OR NOT BEING RECEIVED OR PROCESSED BY THE INTENDED RECIPIENT IN ANY REQUIRED TIMEFRAME, WHETHER SUCH FAILURE RESULTS FROM THE CUSTOMER’S OR ITS AUTHORIZED USERS’ ERROR WHILE USING THE BILL PAY SERVICES OR A FAILURE, FLAW, ERROR, OR OUTAGE IN THE BILL PAY SERVICES OR THE SERVICES, AND EVEN IF PROCURIFY IS NOTIFIED IN ADVANCE OF THE POSSIBILITY OF SUCH INTEREST, PENALTIES, CHARGES, OR OTHER AMOUNTS. THE CUSTOMER ACKNOWLEDGES AND AGREES THAT AS BETWEEN THE PARTIES, IT IS SOLELY RESPONSIBLE FOR ENSURING THAT ALL AMOUNTS DUE TO OTHERS BY THE CUSTOMER ARE RECEIVED BY SUCH THIRD PARTY ACCORDING TO THE TERMS OF THE AGREEMENT BETWEEN THE CUSTOMER AND SUCH THIRD PARTY.