COLLECTION SERVICES TERMS OF SERVICE (“Terms of OF SERVICE”)
Please read these terms carefully before you start to use our services. By using the services, you accept and agree to be bound and abide by these terms of service.
This T&C is effective as of March 26th 2024 and was last updated on March 26th 2024
V1.00
These Terms of Service are an integral part and subject to terms of VaultN Terms and Conditions (“T&Cs”), Documentation (as defined under T&Cs) that may be published and amended from time to time by VaultN over Platform (as defined under the T&Cs).
Any term with capitalized initial letter that are not defined herein shall have their corresponding meaning determined under the T&Cs and Documentation.
In case of any conflict between the T&Cs and Documentation, these Terms of Services shall prevail.
You hereby agree to comply with and adhere to the T&Cs, the Documentation and these Terms of Services in order to benefit from the Distribution Platform Services hereunder.
DEFINITIONS
| Collection Terms of Services | refers to the Terms of Service related to the Collection Platform which will be concluded between You and VaultN for Collection Services. |
| Collection Platform | Refers to the Platform where VaultN will provide the Collection Services. |
| Collection Services | refers to the Service offered by VaultN’s that allows You to (i) collect of payments from Retailers from the Retailers or to process payments to the Publishers (ii) pay the Charges over Third Party Payment Service Providers. |
| Transaction Data | refers to the records and information generated through the usage of VaultN Platform, including but not limited to activities such as purchases, sales, distributions, billing, and payments. VaultN retains all rights over Transaction Data as part of the Platform’s operational processes |
| Publisher | means any legislaRefers to You or Your Connection who is a publisher or the owner of the rights to sell or distribute any Digital Inventory to Retailers. |
| Retailer | Refers to You or Your Connection who is a retailer, a distributor, a sub-retailer or a sub-distributor of Digital Inventory that is obtained from a Publisher where You or Your Connections sell and distribute such Digital Inventory to end-users. |
Scope and Use of the Service
1.1 The Collection Services is an optional Add-On in addition to the Services provided by VaultN upon the Your explicit request.
1.2 VaultN acts solely as an intermediary to facilitate the collection of payments from Retailers to Publishers through a Payment Service Provider. VaultN does not provide payment processing services directly but relies on Payment Service Providers.
1.3 You agree to comply with all applicable laws, regulations, and policies of both VaultN and the Payment Service Provider. The Collection Services will not be provided to You unless you accept and comply with the terms of the Payment Service Providers.
1.4 You shall provide all necessary information and documentation required by VaultN and the Payment Service Provider to facilitate the Collection Service.
Authorization of VaultN
2.1 You hereby authorize VaultN in the following matters:
- To receive and transfer your instructions related to Collection Services and Charges to the Payment Service Provider;
- To automatically and initially collect any Charges due and owed to VaultN from any amounts that would be transferred to You due from Collection Services.
Fees and Commission
3. 1 VaultN shall receive Charges as reflected in your Plan for the Collection Service, which will be deducted from the collected amounts before remitting the funds to the You or to Your Connections. VaultN shall not be liable for not being able to remit to You or to your Connections, in case You owe VaultN Charges and these are deducted from the collected amounts.
3.2 VaultN shall not be obligated to issue invoices related to the payments of the Digital Inventory collected automatically through the Collection Platform from your Connections and forwarded to You. VaultN shall only issue invoices for the Charges you owe to VaultN and it is Your responsibility to issue proper invoices to your Connections.
Refund Requests
4.1 Refund requests shall be subject to the terms of the relevant Publisher applicable to refunds. VaultN does not have any discretion or responsibility related to refund requests. Refund requests will only be carried out if the relevant Publisher accepts the refund request.
4.2 In case You, as a Retailer, request a refund for any reason and provided that such refund request is accepted by the relevant Publisher, You will receive a credit that You can use with that Publisher against future Collections, unless you specifically ask to be refunded. In case of a refund, You hereby agree that You may not receive the complete amount that was collected, but that eventual Charges applied by the respective Payment Service will be deducted from any such returns.
Refund Requests
4.1 Refund requests shall be subject to the terms of the relevant Publisher applicable to refunds. VaultN does not have any discretion or responsibility related to refund requests. Refund requests will only be carried out if the relevant Publisher accepts the refund request.
4.2 In case You, as a Retailer, request a refund for any reason and provided that such refund request is accepted by the relevant Publisher, You will receive a credit that You can use with that Publisher against future Collections, unless you specifically ask to be refunded. In case of a refund, You hereby agree that You may not receive the complete amount that was collected, but that eventual Charges applied by the respective Payment Service will be deducted from any such returns.
Licensing
5. 1 VaultN does not hold, own, or possess any licenses for the Collection Services provided under these Terms. The Collection Service is facilitated exclusively through Payment Service Providers that are licensed to perform such financial transactions.
5.2 You acknowledge and agree that all payment processing are provided by third-party entities that are independently licensed and regulated. VaultN shall not be held liable for compliance or regulatory matters related to the licensing of the Payment Service Providers.
5.3 You agree that any issues or claims related to licensing, compliance, or regulatory matters must be directed solely to the Payment Service Providers, and not to VaultN.
Limitations of Liability
6.1 VaultN does not guarantee the successful collection of any payments from Retailers.VaultN’s obligation to remit payments to Publishers is strictly limited to the amounts successfully collected from Retailers, minus any Charges.
6.2 In the event that payments cannot be collected from Retailers, VaultN shall have no liability to You or Publishers for such amounts.
6.3 VaultN shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising out of or related to these Terms.
No Liability for Third-party Actions
7.1 The Company shall not be responsible or liable for any actions, omissions, errors, delays, or failures of the Payment Service Provider.
7.2 All claims, disputes, or issues related to payment processing must be directed solely to the Payment Service Provider.
7.3 You agree to indemnify and hold harmless VaultN from any claims, losses, or damages arising out of or related to the actions or omissions of the Payment Service Provider
