TECFRAC CTO S.L. built the WHISH app as a commercial app. TECFRAC CTO S.L. is a company based in Spain, Marbella, Malaga, (29600) Ricardo Soriano avenue n° 12 2°, and governed by the laws of Spain.
This page is dedicated to providing visitors with clear and concise information regarding our protocols for collecting, utilizing, and disclosing personal information for those who choose to utilize our services.
Your utilization of our Service implies your unequivocal acceptance of the terms stipulated within this policy. The Personal Information collected is exclusively dedicated to enhancing and delivering superior Service to you. Be assured that your information will not be disclosed or utilized in any manner that is not explicitly outlined in this Privacy Policy.
The terms used in this Privacy Policy have the same meanings as in our Terms and Conditions, which are accessible at WHISH unless otherwise defined in this Privacy Policy.
In order to provide you with the best possible service experience, we may request that you share certain personal information with us. Please be aware that any information we ask for is stored solely on your device and not collected by us in any way.
It's worth noting, however, that we do employ third-party services that may collect data for identification purposes. For more information on this, we recommend reviewing the privacy policies of our third-party providers.
When opening an account, making a transaction, or interacting with customer support at WHISH Money, you will be prompted to provide personal information, such as your name, email address, phone number, date of birth, address, passport, ID cards, proof of address, and financial statements. This information is crucial for WHISH Money to offer you the services you require, such as sending and receiving money, and to enhance its services.
WHISH Money may share your information with regulatory authorities if required by law, and with third-party service providers who assist in providing its services, such as payment processors and fraud prevention services. However, WHISH Money takes every measure to safeguard your information, such as utilizing encryption and security measures to prevent unauthorized access, and has established protocols to deal with any suspected data breaches. Be confident that your personal information is in capable hands with WHISH Money.
Please be aware that in the event of an error occurring within the app when utilizing our service, Log Data may be collected from your phone through the use of third-party products. This Log Data may contain information such as your device's Internet Protocol ("IP") address, device name, operating system version, the app's configuration at the time-of-Service usage, the date and time of your Service usage, and other relevant statistics.
When you visit websites, you will inevitably encounter cookies - small data files that act as unique identifiers. These files are stored on your device's internal memory after being sent to your browser by the website.
It is important to note that although this Service does not use cookies directly, third-party code and libraries that do use cookies may be employed to improve the app's performance. You must choose to accept or reject these cookies, and you will be notified if a cookie is sent to your device. Refusing cookies may mean that some parts of the Service are unavailable to you.
In order to deliver our Service, we may engage third-party companies and individuals for various purposes. These purposes include facilitating the Service, performing Service-related tasks, and analyzing the usage of the Service. Please note that these third parties will have access to your Personal Information; however, they are obligated to use the information exclusively for the assigned tasks and are prohibited from disclosing or utilizing it for any other reason.
To ensure the cancellation of a Whish-to-Whish or Cash Out transaction, confirmation from the receiver is required. Without the receiver's authorization, refunds cannot be processed.
By initiating and/or submitting a payment, both the account holder and the payer agree to the following terms and conditions:
In the event that a Whish user is found to have engaged in fraudulent activities or submitted duplicate claims, their account will be swiftly deactivated.
Whish Money facilitates the transfer of funds and acts as an intermediary for collection purposes on behalf of our clients. While we make every effort to ensure the secure and efficient transfer of funds, we must emphasize that we are not liable for the actions, performance, or reliability of third-party entities involved in the collection of funds.
If a third-party collection service provider engages in any negligent or wrongful conduct, WHISH Money will not be liable for any losses or damages incurred by our clients.
Our clients agree to release Whish money from any and all claims, losses, damages, costs, and expenses arising out of the actions or performance of third-party collection service providers.
Any contractual or service agreements entered into with third-party collection service providers are solely the responsibility of the client, and Whish Money bears no liability for the obligations, performance, or outcomes related to these agreements. Our role is limited to providing a platform for the initiation of fund transfers and the facilitation of these transactions.
Clients engaging in third-party collection services are advised to exercise due diligence and conduct their own assessments of third-party providers. We recommend reviewing and understanding the terms and conditions, policies, and liabilities associated with these providers before entering into any agreements.
By using our services, you acknowledge and agree that Whish Money is not responsible for third-party collection service providers, and our liability is strictly limited to the extent specified in our terms and conditions related to the transfer of funds.
It's important to keep in mind that our application does not accept returns, refunds, exchanges, or credit for vouchers once they have been sold.
These Terms & Conditions stipulate the Service provided by both Whish, in its capacity as software provider, and Veem, a powered licensed money transfer company, to enable US customers holder of Whish Application to deposit funds to a Lebanese-based Whish wallet.
These Terms of Use (“Terms”) set forth the terms and conditions that apply to your access and use of Veem payment services (the “Services”). This Agreement is also referred to as an electronic funds transfer (“EFT”) agreement and disclosure for purposes of compliance with federal law regulating EFT services. Veem is a licensed money transmitter and delivers services for customers in the United States for all states other than Pennsylvania, Indiana and North Carolina. Veem is also referred to in these Terms as “we,” “our,” or “us,” and the person electing to use the Services is referred to as “you,” “your,” or “user.” By accessing or using the Services you agree to these Terms.
The term “User Account,” refers to the US payment functionality delivered by Veem. Access to information regarding the User Account and associated payment activity is provided through the Whish provided User interface (the “Whish Account”).
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 5.13 (“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.
1.1 Our Role: Veem acts as a payment services provider on behalf of a sender of funds. 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”).
1.2 Your Authorization: You authorize us to disburse funds in accordance with your payment instructions. Your authorization permits us to make an electronic transfer (an “EFT”) via Automated Clearing House network (“ACH”) from your bank account in the amount you specify and send money electronically to a receiver’s account in the designated currency. 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.
1.3 Confidentiality; 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. As noted in the Privacy Policy, we will disclose information to third parties about your account or the EFTs you make: (i) where it is necessary for completing transfers; (ii) In order to verify the existence and condition of your account for a third party, (ii) In order to comply with government agency or court orders, (iv) if you give us written permission; or (v) As otherwise provided in our Privacy Policy.
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: 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 Whish Services and associated User Account (the “Login Credentials”). You are responsible for keeping your mobile phone number, mailing address and email address up to date in your User Account. See Section 3.9 regarding your liability for Unauthorized Transactions.
1.6 Notices: You agree that we may provide you communications about your User Account and the Services electronically or to the email address or by mail to the mailing address registered on your User Account. Any electronic communications will be considered to be received by you within 24 hours 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. When used in this Agreement, a “business day” means a weekday, not counting any US federal holidays. Notices to us related to matters other than Disputes under Section 5.13(d), will be provided through Whish at [LINK].
1.7 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”).
Veem will deliver Services through a User Account using directions provided through the User’s Whish Account:
2.1 User Account Eligibility: To be eligible to use the Services, you must be an approved user of Whish services, 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 make authorized payments. We may terminate your use of the Services at any time for any reason.
2.2 Registration: To register for a User Account, for you as an individual, we may collect personal information (including name, birthdate, and government-issued identification number) about you. We may also collect valid bank account information, and certain other information about you that we require. You agree to provide us with accurate and verifiable information about you. 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.
2.3 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.
2.4 Continuing Validation: At any time during your use of the Services, we may require additional information from you to validate information you provided, verify your identity, and assess the risk associated with your payment activity. This additional information may include copies of government-issued identification, copies of bank statements, or other information. Your failure to provide this information may result in suspension or termination of your User Account or placing a hold on your transaction.
2.5 User Account Activity: You may view your User Account activity at any time by logging into your Whish 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 through your Whish Account.
2.6 Service Fees: We will provide the Services to you at the rates and for the fees described in the Whish user interface. All Service Fees are non-refundable. Fees may include an EFT per transfer charge and fixed charges for a subscription service.
2.7 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 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.
3.1 Payment Purpose: You warrant and represent that your use of the Services is solely to make remittance payments or 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. We may limit the dollar amount of transfers, on a per transaction or cumulative basis.
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. 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. Unless provided for sooner under your agreement with Whish, 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.
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. 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 Your Liability for Unauthorized Transactions: An “Unauthorized Transaction” occurs when an EFT payment is made using your Login Credentials, and you neither authorized that payment nor benefited from the payment. Please note, however, if you give someone access to your Login Credentials and they process a transaction, this will not be considered an Unauthorized Transaction, 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 Whish 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 contact information for the customer care team in case you have any questions or concerns about a transaction. We recommend that you regularly log in to your Whish account to review your transaction history.
You must TELL WHISH AT ONCE if you believe your Login Credentials have been lost or stolen, or your Whish account has been otherwise compromised, or if you believe that an Unauthorized Transaction 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 Whish 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 Whish account, and we can prove we could have stopped someone from using your Login Credentials or Whish account if you had told us within 2 business days, you could lose as much as $500.
If you believe there is an Unauthorized Transaction on your account, you must tell us AT ONCE, but at least within 60 days of the transfer posting to your Whish payment history. If you do NOT tell us within 60 days of the Unauthorized Transaction, 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 Transaction on your account, we will extend the time periods above.
If you believe that your Login Credentials have been lost, stolen, or otherwise compromised, or you believe there may be an Unauthorized Transaction you must contact us IMMEDIATELY through our customer support..
3.10 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.
3.11 Error Resolution Notice: Under federal law, we are required to address errors in the following manner:
If you believe there is an Unauthorized Transaction or other error, or if you need more information about your account to determine if there is an Unauthorized Transaction or other error on your account, contact Whish through the 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 Whish Account.
We will investigate and, where appropriate, resolve any suspected error that you report within 60 days of the error posting to your Whish account. We may also investigate and/or resolve suspected errors that are reported after 60 Business days of posting to your Whish account, in our sole discretion.
When you contact us, be prepared, if possible, to:
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 business 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 business 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
For purposes of this Agreement, an error includes the following:
An Unauthorized Transaction.
You send a payment through the Service and an incorrect amount is debited from your account.
An EFT payment does not appear in your account transaction history.
An EFT payment does not appear correctly in your 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:
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.
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.
5.1 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.
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).
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.
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 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. 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 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.
5.6 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.
5.7 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.
5.8 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.
5.9 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.
5.10 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.
5.11 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 5.13 of these Terms of Use; and (iv) any other terms which by their nature should survive.
5.12 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.
5.13. 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 5.13(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 5.14a is found to be unenforceable or if the entirety of this Section 5.14 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.
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