Last Updated: November 1, 2023

These Issuing Bank Terms - Celtic Bank (these “Issuing Bank Terms”) form a legal agreement between Celtic Bank Corporation (“Issuing Bank”) and the entity that has applied and qualified for the Program (as defined below) and established a Card Account (as defined below) (“you” or “your”). Stripe, Inc. (“Stripe”) is the program manager appointed by Issuing Bank for the Program. If you are a Connected Account or if you are not a Connected Account, but will otherwise have access to the Program through a platform, the platform provider listed in your Card Program Terms (your “Platform Provider”) will give you access to the Program (as defined below). These Issuing Bank Terms may be updated or amended from time to time.

These Issuing Bank Terms will be effective as of the date you sign up to participate in the Program and will remain in effect until you pay all amounts owed to Issuing Bank and close your Card Account.

WHEN YOU APPLY FOR A CARD ACCOUNT, ACTIVATE A CARD, OR OTHERWISE PARTICIPATE IN THE PROGRAM IN ANY WAY, YOU REPRESENT THAT YOU HAVE READ, UNDERSTAND, AND AGREE TO THESE ISSUING BANK TERMS.

1. DEFINITIONS. The following terms have the meanings set forth below.

“Account Data” means personal or business information that you provide to Issuing Bank (through your Platform Provider or Stripe) relating to the Program, including any information associated with eligibility criteria, your Card Account, Cards (including CVVs and PINs), Authorized Users, Card Transactions, access credentials, records, regulatory compliance data, and any other information used or generated in relation to the Program.

“Administrator” means a person appointed by you to manage your participation in a Program.

“Affiliate” means an entity that directly or indirectly controls, is controlled by, or is under common control with another entity.

“Amounts Due” means any amounts related to Card Transactions, fees, penalties, finance charges, and other amounts incurred through use of your Cards or posted to your Card Account.

“Issuing Balance” means the balance you fund in an asset account to support and secure the credit extended to you through the Program (e.g. the Issuing balance in your Stripe Account).

“Authorized User” means any person you authorize to use Cards and make purchases and other Card Transactions on behalf of your business, including but not limited to your individual employees, independent contractors, and representatives.

“Authorized User Terms” means the terms governing an Authorized User’s use of a Card, as may be updated from time to time.

“Available Spend” means the aggregate dollar amount available for Card Transactions on all Cards. Available Spend is equal to your Total Spending Limit minus the amount of any outstanding unpaid amounts and holds on your Cards.

“Card” means a business charge card that is issued by Issuing Bank and linked to your Card Account.

“Card Account” means the credit account maintained with Issuing Bank through which you are extended credit and through which you may request the issuance of Cards.

“Card Program Terms” means (a) the terms (other than these Issuing Bank Terms) governing your use of the Program, including the Stripe Issuing Terms - Accountholder available at http://stripe.com/ssa and (b) if you are a Connected Account (or if you otherwise participate in the Program through a Platform Provider), any other Program terms your Platform Provider provides to you.

“Card Network” means a payment card network, including the network operated by each of Visa, Mastercard, American Express and Discover.

“Card Network Rules” means the guidelines, bylaws, rules and regulations published by a Card Network.

“Card Transaction” means a transaction to make a payment with a Card or to obtain cash at an automatic teller machine (ATM).

“Connected Account” has the meaning given in the Stripe Services Agreement.

“Dashboard” means the Platform Provider's or Stripe’s accountholder interface.

“Law(s)” means all laws, rules, regulations, and other binding requirements of any governmental authority with jurisdiction over your use of the Program.

“Program” means Card issuing services that Issuing Bank provides under these Issuing Bank Terms, together with the issuing services that Stripe makes available to you under any relevant program terms.

“Payment Source” means (a) an Issuing Balance; (b) any account at a third-party financial institution that you have linked to your Stripe Account, or (c) if you participate in the Acquiring Receivables Program, the proceeds of the Acquiring Receivables assigned, transferred, and conveyed to Issuing Bank under the Acquiring Receivables Program.

“Personal Data” means information that identifies a specific living person (not a company, legal entity, or machine) and is transmitted to or accessible through the Program.

“Principal Owners” means, with respect to a legal entity: (a) each individual, if any, who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise, owns 25 percent or more of the equity interests of the legal entity; and (b) one individual with significant responsibility for managing the legal entity, such as an executive officer or senior manager (e.g., Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, Treasurer) or any other individual who regularly performs similar functions.

“Stripe Account” has the meaning given in the Stripe Services Agreement.

“Stripe Issuing Program Guidelines” means all product design, marketing, compliance, reporting, and other guidelines and requirements Stripe and the Issuing Bank establish related to the Program, as updated from time to time, including the guidelines available at https://stripe.com/docs/issuing/compliance-us.

“Territory” means the United States and its territories.

“Total Spending Limit” means the maximum amount of credit Issuing Bank makes available to you through your Card Account for Card Transactions.

2. OVERVIEW OF THE PROGRAM

2.1 General. Through the Program and subject to these Issuing Bank Terms, you may request and receive Cards issued by Issuing Bank, allow the use of such Cards by Authorized Users to access credit and initiate Card Transactions, and repay Amounts Due. Issuing Bank will issue each Card to you subject to a license from the applicable Card Network and your compliance with these Issuing Bank Terms. Stripe will provide the Program services (directly or through a Platform Provider) and will manage the opening of a Card Account, the issuance of Cards by Issuer linked to such Card Account, and the provision of such Cards to Authorized Users. As the issuer of Cards, Issuing Bank must enter into an accountholder agreement with you, and these Issuing Bank Terms constitute your accountholder agreement with Issuing Bank.

2.2 Stripe as Program Manager. Stripe will facilitate your access to and use of a Card Account (directly or through your Platform Provider) and will perform certain related software, account management, and processing services on Issuing Bank’s behalf, as further described in the Card Program Terms. The Card Program Terms supplement these Issuing Bank Terms. In the case of any conflict between the Card Program Terms and these Issuing Bank Terms, these Issuing Bank Terms will govern.

2.3 Communications. Stripe or, if applicable, your Platform Provider will make all communications to you regarding your Card Account and the Program.

3. APPLICATION AND CARD ACCOUNT OPENING

3.1 Card Account Use for Business Purposes. The Program is only available for business purposes. Any use of the Program for personal, family or household purposes may result in immediate termination of these Issuing Bank Terms and your participation in the Program. You represent and warrant that you are a commercial enterprise, and you agree that all Cards issued to you will be used for business purposes only.

3.2 Eligibility. To establish a Card Account, you must (a) submit a complete application through Stripe or, if applicable, your Platform Provider, including any identity verification information described in Section 3.3 and Section 3.5; (b) agree to these Issuing Bank Terms; and (c) agree to any applicable Card Program Terms.

3.3 Identity Verification. You must provide information identifying you and your Principal Owners, Administrators, Authorized Users, and representatives and other information requested by Issuing Bank, Stripe, and if applicable, your Platform Provider. Your failure to promptly provide requested information may result in your immediate suspension or termination from the Program. Each time you provide such information, you represent and warrant that such information is true, accurate, complete, and current. You agree to keep all such information current and to notify Stripe or, if applicable, your Platform Provider of any change affecting you, the nature of your business activities, or your Principal Owners, Administrators, Authorized Users, or representatives. You acknowledge that Issuing Bank, Stripe and, if applicable, your Platform Provider may use any information provided by you to screen and monitor you and your Principal Owners from time to time in connection with the Program, including to determine whether you or any of your Principal Owners or representatives is included on any U.S. Office of Foreign Asset Control (“OFAC”) or other governmental authority list. You represent, warrant, and agree that neither you nor your Principal Owners or representatives are or will be subject to any Law or list of any governmental authority that prohibits or limits their participation in the Program.

3.4 Information from Third Parties. You authorize Issuing Bank, Stripe, and, if applicable, your Platform Provider to retrieve information about you from third parties, including credit reporting agencies and information bureaus, and you authorize and direct such third parties to compile and provide such information to Issuing Bank, Stripe, and your Platform Provider. Issuing Bank, Stripe, and (if applicable) your Platform Provider may periodically update any information about you as part of their underwriting criteria and risk analysis procedures.

3.5 Identity Verification Disclosure.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A CARD ACCOUNT: TO HELP THE GOVERNMENT FIGHT THE FUNDING OF TERRORISM AND MONEY LAUNDERING ACTIVITIES, FEDERAL LAW REQUIRES ALL FINANCIAL INSTITUTIONS TO OBTAIN, VERIFY, AND RECORD INFORMATION THAT IDENTIFIES EACH PERSON WHO OPENS AN ACCOUNT. WHAT THIS MEANS FOR YOU: WHEN YOU OPEN AN ACCOUNT, STRIPE OR, IF APPLICABLE, YOUR PLATFORM PROVIDER WILL ASK FOR YOUR NAME, ADDRESS AND EMPLOYER IDENTIFICATION NUMBER AND THE NAMES, ADDRESSES, DATES OF BIRTH, AND OTHER INFORMATION CONCERNING EACH PRINCIPAL OWNER THAT WILL ALLOW STRIPE AND, IF APPLICABLE, YOUR PLATFORM PROVIDER TO IDENTIFY YOU AND YOUR PRINCIPAL OWNERS ON ISSUING BANK’S BEHALF. ISSUING BANK, STRIPE, AND, IF APPLICABLE, PLATFORM PROVIDER MAY ALSO ASK TO SEE A COPY OF EACH PRINCIPAL OWNER’S DRIVER’S LICENSE OR OTHER IDENTIFICATION DOCUMENTS.

3.6 Approval. After you submit your application, Issuing Bank will assess your eligibility for the Program, which could result in approval, denial, or a request for additional information. Stripe or, if appliable, your Platform Provider will notify you of Issuing Bank's decision via the Dashboard or email. Issuing Bank, in its sole discretion and for any reason allowed by Law, reserves the right to decline to provide you with a Card Account. Following approval of your application, you must provide any additional information that Issuing Bank (or Stripe on Issuing Bank’s behalf) requests.

4. USING YOUR ACCOUNT

4.1 Cards and Card Account. All Cards issued to you are linked to your Card Account. When an Authorized User makes a Card Transaction and it is approved by Issuing Bank (or Stripe on Issuing Bank’s behalf), Issuing Bank will extend you credit to cover the Card Transaction, and you agree to repay Issuing Bank for the Card Transaction in accordance with these Issuing Bank Terms. All Cards remain the property of Issuing Bank and you must return all Cards upon request. Issuing Bank may cancel, revoke, repossess, or restrict the use of Cards at any time.

4.2 Authorized Users. At your request, Issuing Bank may issue Cards to Authorized Users. Authorized Users do not have Card Accounts with Issuing Bank, but they may make Card Transactions on your Card Account subject to the terms of these Issuing Bank Terms, the Card Program Terms and the Authorized User Terms.

• (a) Authorized User Terms; Terms of Service Compliance. Unless you are a Connected Account, you are responsible for providing the Authorized User Terms to your Authorized Users and recording acceptance of the Authorized User Terms in the manner described in the Stripe Issuing Program Guidelines. In addition, you are responsible for ensuring your Authorized Users comply with these Issuing Bank Terms, the Card Program Terms, and the Authorized User Terms.
• (b) Responsibility for Authorized Users. You are responsible for all use of Cards by Authorized Users. If an Authorized User permits another person to have access to your Card Account or Card, Issuing Bank will treat this as if you authorized that person to use the Card Account or Card, and you will be liable for all Card Transactions and fees incurred by that person. You must not require that Authorized Users be liable for any Transactions, fees or any other obligations in connection with the Program, except as Law permits.

4.3 Restricted Businesses and Activities.You will not permit the Card Account or Cards to be used for any unlawful purpose, or to be used in connection with any activities identified by Issuing Bank, Stripe, or, if applicable, your Platform Provider as a restricted business or activity. Restricted businesses or activities include use of the Program and Cards in or for the benefit of a country, organization, entity, or person embargoed or blocked by any government, including any lists published by OFAC. Issuing Bank, Stripe and, if applicable, your Platform Provider may periodically add to or revise businesses designated as restricted businesses.

4.4 International Use. Issuing Bank reserves the right to prevent Cards from functioning outside of the Territory. If Cards are used to make international Card Transactions, Issuing Bank will convert any charges made in foreign a currency to U.S. dollars. Issuing Bank or the applicable Card Network will select exchange rates from a range of exchange rates available on the date the Card Transactions are cleared over the applicable Card Network; thus, the exchange rate on the clearing date may vary from the exchange rate at the time of the Card Transaction.

4.5 Fees and Penalties. You will be responsible for any fees, penalties, or other amounts you owe for any Card Account or Cards as may be disclosed by Stripe or, if applicable, your Platform Provider.

4.6 Complaint Handling. The Card Program Terms govern the procedures for handling complaints.

5. OTHER LIMITS

5.1 General. You may not make any Card Transactions that would cause you to exceed or violate any of the limits stated in these Issuing Bank Terms.

5.2 Limits Established by You. You may establish limits on the dollar amount of individual Card Transactions, the maximum number and aggregate dollar amount of Card Transactions in a given period, the number of Cards associated with your Card Account, the types of merchants with which your Cards may be used to initiate Card Transactions, and other limits through the Dashboard.

5.3 Limits Established by Issuing Bank. Initial or additional limits established by Issuing Bank are disclosed when you are approved for a Card Account and are available in your Dashboard. You are responsible for communicating any applicable limits or restrictions to your Authorized Users.

5.4 Additional Limits on Transactions. Issuing Bank (or Stripe on Issuing Bank’s behalf) may (a) decline to authorize any Card Transaction that would cause you to exceed any applicable limit; (b) decline to authorize Card Transactions at merchants characterized by a Card Network, Issuing Bank, or Stripe as prohibited or restricted merchants or restricted businesses; or (c) decline to authorize Card Transactions, reverse Card Transactions, and suspend Cards, if: (i) you breach these Issuing Bank Terms, applicable Law, or the Card Network Rules; (ii) Issuing Bank (or Stripe on Issuing Bank’s behalf) reasonably suspects fraud; (iii) you file for dissolution or bankruptcy; (iv) you misrepresent a fact in your application, or use or maintain a Card Account using inaccurate or false information; or (v) you or your Authorized Users pose an unacceptable regulatory, reputational, or financial risk to Issuing Bank.

5.5. Holds. Issuing Bank (or Stripe on Issuing Bank’s behalf) reserves the right to place a hold on a Card and/or the associated Card Account for any Card Transaction. When you use a Card to initiate a Card Transaction at a hotel, restaurant, gas station, rental car company, and certain other merchants where the amount of the final Card Transaction is unknown at the time of authorization, a hold will be placed on your Card Account for an amount equal to or in excess of the final Card Transaction amount. When a hold is placed on your Card Account, the amount of the hold will reduce the Available Spend until the hold is released.

6. Card Security.

6.1 Securing Cards and Account Data. You and your Authorized Users are responsible for securing Cards and Account Data. When stored or processed digitally, you must use commercially reasonable, physical, organizational and technical measures to secure Cards and Account Data in your and your Authorized Users’ possession or control, including through the use of industry-standard encryption. You must monitor any suspicious or unauthorized activities and fraud on your Card Account and each Card.

6.2 Unauthorized Transactions. Subject to applicable Law, your Card Account is a commercial account and does not provide all consumer protections for lost or stolen Cards or unauthorized Card Transactions. You and your Authorized Users are responsible for securing Cards, Account Data, and Card security features (including the CVV and PIN). You understand that it is your responsibility to monitor any suspicious or unauthorized activities on your Card Account and each Card. To the extent Law permits, you are responsible for Card Transactions, fees, and penalties that you, Stripe, or Issuing Bank incur as a result of any Authorized User’s failure to (a) exercise reasonable care in safeguarding Cards from loss or theft; or (b) promptly report loss or theft of a Card, including fraud. Additionally, to the extent Law permits, if you or an Authorized User allows another party to use the Card or Account Data for any purpose or if an unauthorized person uses a Card or Account Data, you will be liable for that use, including all losses, damages and costs arising out of or relating to that use. To the extent Law permits, Stripe is not liable for any losses, damages or costs to you or your Authorized Users arising out of or relating to (y) unauthorized access to or use of a Card or your Card Account; or (z) your failure to use or implement anti-fraud measures, security controls or any other data security measures.

7. Card Disputes.

7.1 Reporting Unauthorized Transactions. If you believe your Card has been lost or stolen or if you believe there are fraudulent or unauthorized transactions on your Card or Card Account, you must IMMEDIATELY (a) report any unauthorized Card Transactions to Stripe via the Dashboard, and (b) cancel any compromised Cards through the Dashboard. Disputing a fraudulent or unauthorized Card Transaction will not cancel a Card. Failure to cancel any compromised Cards through the Dashboard may result in you incurring additional liability.

7.2 Reporting Erroneous Transactions. If you believe that your Card or Card Account was subject to an erroneous or otherwise incorrect charge, you must first contact the merchant to dispute the relevant Card Transaction. If you are unable to resolve the dispute with the merchant, then you may dispute the Card Transaction through your Dashboard. You must report any erroneous or disputed Card Transactions to Stripe within 110 days (or within any extended timeframe required by Law or Card Network Rules) from the date the Card Transaction appears on your Card Account.

7.3 Reporting Card Disputes. When you submit or report an erroneous or unauthorized Card Transaction through the Stripe Dashboard, Stripe will evaluate the submitted information in accordance with Law. If Stripe determines, in its sole discretion, that the dispute of the Card Transaction is valid or the Card Transaction was erroneous or unauthorized, Stripe will credit the amount of the applicable Card Transaction back to your Card Account. If Stripe fully or partially credits the amount of any Card Transaction to your Card Account, you agree to transfer, and, if necessary, to execute any necessary agreements, to effect the transfer, to Stripe all claims (excluding tort claims) that you may have against the merchant for the Card Transaction.

8. TERM AND TERMINATION.

8.1 Termination. Issuing Bank (or Stripe on Issuing Bank’s behalf) may suspend or close your Card Account or any Card, or terminate these Issuing Bank Terms, at any time if Issuing Bank determines, in its sole discretion, that:

• (a) you breach any Law, the Card Network Rules, or any obligation, term, condition, representation, warranty, or covenant in these Issuing Bank Terms;
• (b) you fail to pay any amounts you owe in connection with the Program;
• (c) you initiate a Card Transaction that would exceed or violate any limits established for your use of the Program;
• (d) you file for dissolution or bankruptcy;
• (e) you use inaccurate or false information in your application;
• (f) you pose an unacceptable regulatory, reputational, or financial risk to Issuing Bank; or
• (g) such action is necessary or in Issuing Bank’s best interest.

8.2 Survival. All provisions of these Issuing Bank Terms that give rise to a party’s ongoing obligation or that by their nature are intended to survive termination will survive termination of these Issuing Bank Terms.

8.3 Closing your Card Account. The Card Program Terms describe the procedures for closing your Program Account. You must pay all Amounts Due prior to closure.

9. DATA PRIVACY AND USE. Issuing Bank’s Privacy Policy (located at https://www.celticbank.com/privacy-policy) explains how and for what purposes Issuing Bank collects, uses, retains, discloses, and safeguards Personal Data provided to Issuing Bank in connection with the Program. You agree to review and accept the terms of this policy (which may be updated from time to time and which form part of these Issuing Bank Terms).

10. USE OF TRADEMARKS. If you choose to place a design, name, logo, and other trademark or service mark (the “User Marks”) on any materials related to the Program, you represent and warrant that you have, and during the term of these Issuing Bank Terms will retain, all right, title, and interest in and to the User Marks necessary for your proposed use of the User Marks. You grant to Issuing Bank, Stripe and, if applicable, Platform Provider (and their respective Affiliates), and any third party engaged by Issuing Bank, Stripe or your Platform Provider, a fully paid-up, worldwide, non-exclusive license to use the User Marks on any Program materials during the term of these Issuing Bank Terms. You may not use any design, name, logo, or other trademark or service mark of Issuing Bank, Stripe or Platform Provider. You will promptly provide further evidence of all right, title, and interest contemplated by this Section if requested by Issuing Bank or Stripe.

11. DISCLAIMER. Issuing Bank does not make any express or implied representations or warranties regarding the Program, including any warranties of merchantability, suitability, or fitness for a particular purpose, or title to or non-infringement of any technology or intellectual property, or any warranties arising from a course of dealing, course of performance, or trade usage. Issuing Bank specifically disclaims all representations and warranties that your Card Account, the Program, or the services provided by any third party will be error-free or uninterrupted, or that they will be compatible with, or operate in, any computer operating system, network or system configuration, or any other environment.

12. LIMITATION OF LIABILITY.

12.1 Disclaimer; Limitation of Liability. Neither Issuing Bank nor its Affiliates, employees, officers, directors, or service providers (each, an “Indemnified Party”) will be liable for any indirect, punitive, incidental, special, consequential, or exemplary damages, for any loss of profits, for any personal injury or property damage, or for any other damages or losses arising out of your use of the Program, even if such damages or losses are foreseeable or preventable. No Indemnified Party will be liable for any damages, harm, or losses arising out of, relating to, or in connection with: (i) any hacking, tampering, or other unauthorized access to or use of your Card Account, Cards, or the Program, or (ii) your failure to use or implement anti-fraud measures, security controls, or any other data security measures. To the extent any Indemnified Party is determined to be liable in connection with these Issuing Bank Terms, you agree to limit any liability of the Indemnified Party to your direct, documented damages, and you further agree that under no circumstances will any such liability exceed in the aggregate the greater of (i) the total amount of fees paid by you to the Indemnified Party during the 3-month period immediately preceding the event giving rise to your claim for damages; and (ii) $500 USD. These limitations on the liability of the Indemnified Parties will apply regardless of the legal theory on which any claim is based, including contract, tort (including negligence), strict liability, or otherwise.

13. INDEMNIFICATION. You will, at your own expense, hold harmless, defend, protect, and indemnify each Indemnified Party from and against all losses, claims, breaches, suits, damages, liabilities, costs, charges, fines, penalties, reasonable attorneys’ fees, judgments, court costs and expenses, amounts paid in settlement, and all other liabilities of every nature, kind, and description, regardless of the form of action or legal theory, incurred by such Indemnified Party in connection with any action or threatened action, suit, claim, or proceeding, regardless of merit, brought by any third party, arising out of, relating to, or alleging: (a) any breach of any term, condition, obligation, representation, warranty, or covenant in these Issuing Bank Terms; (b) any actual or alleged infringement, violation, or misappropriation of a third party’s intellectual property or proprietary rights; (c) any gross negligence, fraud or intentional misconduct; (d) any violation of Law or Card Network Rules by you or any violation of Law or the Card Network rules caused by you; or (e) any other acts or omissions, including the acts or omissions of you or your Administrators or Authorized Users. This Section 13 does not and will not limit your responsibility and liability for any other amounts for which you are responsible pursuant to any other provisions of these Issuing Bank Terms.

14. GOVERNING LAW.

14.1 Governing Law. Utah law, without regard to Utah’s conflict of law principles, will govern any disputes, claims, or controversies brought under these Issuing Bank Terms. Each party irrevocably submits to the exclusive personal jurisdiction, and will bring all suits and actions under or in connection with these Issuing Bank Terms exclusively, in the federal district court of Utah and each party waives all objections to this jurisdiction and venue.

15. DISPUTE RESOLUTION; AGREEMENT TO ARBITRATE.

15.1 Binding Arbitration.

• (a) All disputes, claims and controversies, whether based on past, present or future events, arising out of or relating to statutory or common law claims, the breach, termination, enforcement, interpretation or validity of any provision of these Issuing Bank Terms, and the determination of the scope or applicability of your agreement to arbitrate any dispute, claim or controversy originating from these Issuing Bank Terms, but specifically excluding any dispute principally related to either party’s IP Rights (which will be resolved in litigation before the United States District Court for the Northern District of California), will be determined by binding arbitration in Salt Lake City, Utah before a single arbitrator.
• (b) The American Arbitration Association will administrate the arbitration under its Commercial Arbitration Rules. The Expedited Procedures of the American Arbitration Association’s Commercial Arbitration Rules will apply for cases in which no disclosed claim or counterclaim exceeds $75,000 USD (excluding interest, attorneys’ fees and arbitration fees and costs). Where no party’s claim exceeds $25,000 USD (excluding interest, attorneys’ fees and arbitration fees and costs), and in other cases where the parties agree, Section E-6 of the Expedited Procedures of the American Arbitration Association’s Commercial Arbitration Rules will apply.
• (c) The arbitrator will apply the substantive law of the State of California and of the United States, excluding their conflict or choice of law rules.
• (d) Nothing in these Issuing Bank Terms will preclude the parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction.
• (e) The parties acknowledge that these Issuing Bank Terms evidences a transaction involving interstate commerce. Notwithstanding the provisions in this Section 15 referencing applicable substantive law, the Federal Arbitration Act (9 U.S.C. Sections 1-16) will govern any arbitration conducted in accordance with these Issuing Bank Terms.

15.2 Arbitration Procedure.

• (a) A party must notify the other party of its intent to commence arbitration prior to commencing arbitration. The notice must specify the date on which the arbitration demand is intended to be filed, which must be at least 30 days after the date of the notice. During this time period, the parties will meet for the purpose of resolving the dispute prior to commencing arbitration.
• (b) Subject to Section 15.2(a), each party may commence arbitration by providing to the American Arbitration Association and the other party to the dispute a written demand for arbitration, stating the subject of the dispute and the relief requested.
• (c) Subject to the disclaimers and limitations of liability stated in these Issuing Bank Terms, the appointed arbitrators may award monetary damages and any other remedies allowed by the laws of the State of Utah. In making a determination, the arbitrator will not have the authority to modify any term of these Issuing Bank Terms. The arbitrator will deliver a reasoned, written decision with respect to the dispute to each party, who will promptly act in accordance with the arbitrator’s decision. Any award (including interim or final remedies) may be confirmed in or enforced by a state or federal court located in Salt Lake City, Utah. The decision of the arbitrator will be final and binding on the parties, and will not be subject to appeal or review.
• (d) In accordance with the AAA Rules, the party initiating the arbitration is responsible for paying the applicable filing fee. Each party will advance one-half of the fees and expenses of the arbitrator, the costs of the attendance of the arbitration reporter at the arbitration hearing, and the costs of the arbitration facility. In any arbitration arising out of or relating to these Issuing Bank Terms, the arbitrator will award to the prevailing party, if any, the costs and attorneys’ fees reasonably incurred by the prevailing party in connection with those aspects of its claims or defenses on which it prevails, and any opposing awards of costs and legal fees awards will be offset.

15.3 Confidentiality. The parties will keep confidential the existence of the arbitration, the arbitration proceeding, the hearing and the arbitrator’s decision, except (a) as necessary to prepare for and conduct the arbitration hearing on the merits; (b) in connection with a court application for a preliminary remedy, or confirmation of an arbitrator’s decision or its enforcement; (c) Issuing Bank may disclose the arbitrator’s decision in confidential settlement negotiations; (d) each party may disclose as necessary to professional advisors that are subject to a strict duty of confidentiality; and (e) as Law otherwise requires. The parties, witnesses, and arbitrator will treat as confidential and will not disclose to any third person (other than witnesses or experts) any documentary or other evidence produced in any arbitration, except as Law requires or if the evidence was obtained from the public domain or was otherwise obtained independently from the arbitration.

15.4 Conflict of Rules. In the case of a conflict between the provisions of this Section 15 and the AAA Rules, the provisions of this Section 15 will prevail.

15.5 Class Waiver. To the extent Law permits, any dispute arising out of or relating to these Issuing Bank Terms, whether in arbitration or in court, will be conducted only on an individual basis and not in a class, consolidated or representative action. Notwithstanding any other provision of these Issuing Bank Terms or the AAA Rules, disputes regarding the interpretation, applicability, or enforceability of this class waiver may be resolved only by a court and not by an arbitrator. If this waiver of class or consolidated actions is deemed invalid or unenforceable, neither party is entitled to arbitration.

15.6 No Jury Trial. If for any reason a claim or dispute proceeds in court rather than through arbitration, each party knowingly and irrevocably waives any right to trial by jury in any action, proceeding or counterclaim arising out of or relating to these Issuing Bank Terms or any of the transactions contemplated between the parties.

16. GENERAL.

16.1 Notices and Communications. You consent to accept notices and communications under these Issuing Bank Terms electronically and understand that such notices and communications have the same legal effect as a physical signature. Issuing Bank and Stripe (on Issuing Bank’s behalf) may send notices to you through the Dashboard, or to the email addresses or phone numbers maintained in your Card Account.

16.2 Severability. If any provision of these Issuing Bank Terms is determined by any court or governmental authority to be invalid, illegal, or unenforceable, these Issuing Bank Terms will be enforced as if the unenforceable provision were not present and any partially valid and enforceable provision will be enforced to the extent that it is enforceable.

16.3 Assignment. Issuing Bank may transfer, sell, or assign your Card Account, these Issuing Bank Terms, or any other rights or obligations under these Issuing Bank Terms. You may not transfer, sell, or assign your Card Account, Cards, these Issuing Bank Terms, or any other rights or obligations under these Issuing Bank Terms without Issuing Bank’s prior written consent. Any assignment in violation of the foregoing will be void in each instance from the beginning.

16.4 Updates to these Issuing Bank Terms and Related Matters. Issuing Bank may prospectively add to, delete, or amend these Issuing Bank Terms or any documents referenced in these Issuing Bank Terms at any time. Issuing Bank reserves the right, subject to Law, to deliver to you any notice of changes to these terms by notifying you through the Dashboard, by posting such changes to Platform Provider’s or Stripe’s website, or by providing notice of changes to you electronically. Your continued use of the Program will constitute acceptance of any amended or new terms.

16.5 Third-Party Beneficiary. The parties acknowledge and agree that Stripe is a third-party beneficiary to these Issuing Bank Terms and is entitled to the rights and benefits stated within.

Appendix: Pre-Funded Spend Card

This Pre-Funded Spend Card Module applies to you if you participate in the Pre-Funded Spend Card Program.

1. PRE-FUNDED SPEND CARD PROVISIONS. The following provisions apply to your use of the Pre-Funded Spend Card Program.

1.1 Issuing Balance. You must fund the Issuing Balance to support the credit Issuing Bank extends to you through your Card Account. Stripe or, if applicable, your Platform Provider will designate where you will maintain the Issuing Balance. Issuing Bank, Stripe and ,if applicable, your Platform Provider may view and verify the amount of the Issuing Balance at any time.

1.2 Total Spending Limit. Issuing Bank will establish your Total Spending Limit as the amount equal to the dollar amount of funds on deposit in your Issuing Balance. The funds in your Issuing Balance are collateral for the Amounts Due.

1.3 Issuing Balance and Available Spend. If payments on your Card Account are made from your Issuing Balance, your Available Spend will be decreased each business day by the Amounts Due until you load additional funds to your Issuing Balance. If your Issuing Balance is terminated for any reason or if the amount of your Issuing Balance falls to zero, or if Issuing Bank (or Stripe on Issuing Bank’s behalf) does not receive payment from another Payment Source, your Available Spend will be zero and you will not be permitted to initiate Card Transactions through your Cards.

1.4 Repayments.

• (a) Repayment Period. All Amounts Due must be paid each business day.
• (b) Repayments from your Payment Source. You authorize Issuing Bank (or Stripe on Issuing Bank’s behalf) to automatically debit or offset Amounts Due for Card Transactions and any other Amounts Due to Stripe or Issuing Bank from a Payment Source each business day. If you select a default Payment Source, Issuing Bank will initially seek repayment from your default Payment Source. If Issuing Bank (or Stripe on Issuing Bank’s behalf) is unable to collect Amounts due from the default Payment Source, Issuing Bank (or Stripe on Issuing Bank’s behalf) will attempt to collect Amounts Due from other Payment Sources. If the Amounts Due exceeds the amounts or proceeds available from the Payment Sources, Issuing Bank (or Stripe on behalf of Issuing Bank) may debit or offset outstanding Amounts Due from any other financial account held by you or require you to immediately wire transfer the amount of any uncollected Amounts Due. You will pay all legal fees and other reasonable costs and expenses incurred by Issuing Bank or Stripe in connection with the collection of any Amounts Due. If you do not designate a default Payment Source, Issuing Bank will treat your Issuing Balance as the default Payment Source.

2. Additional Definitions. The following terms have the meanings set forth below.

“Pre-Funded Spend Card Program” means a Program (a) with a Total Spending Limit that is supported by the amounts on deposit in your Issuing Balance and (b) requires you to repay all outstanding amounts each business day.