Terms of Service
These Terms of Service (“Terms”) govern access to and use of vaultfinancialtech.com and the Vault application and services (the “Services”) provided by Vault Financial Technologies, Inc. (“Vault”, “we”). By creating an account or using the Services you agree to these Terms and to our Privacy Policy. If you use the Services on behalf of a business, you represent that you are authorized to bind it, and “you” means that business.
1. Eligibility and accounts
The Services are for businesses that provide delivery, logistics or related contractor services and for their authorized owners and personnel; you must be at least 18 and able to form a binding contract. You must provide accurate, complete information and keep it current. You are responsible for your credentials and for all activity under your account; keep your password and second factor confidential and tell us at once at security@vaultfinancialtech.com if you suspect unauthorized use. We may require identity and business verification before enabling any feature.
2. The Services
The Services reconcile settlement statements against delivery records, provide reporting and financial tools, and allow eligible businesses to offer receivables for purchase. Any purchase of receivables, advance, reserve, fee or recourse obligation is governed solely by the Master Receivables Purchase Agreement and related documents you sign with Vault Receivables I, LLC; these Terms do not create any obligation to purchase receivables or fund an advance, and nothing in the Services is a loan, credit decision or offer of credit. Reconciliation results are prepared from data supplied by you and by the carriers and platforms you serve and are provided for your review; you remain responsible for your own books, taxes and disputes with your counterparties.
3. Bank connections and Plaid
To verify a bank account and receive payments you may connect an account through Plaid Inc. By doing so you grant Vault and Plaid the right to access and transmit your personal and financial information from the relevant financial institution, in accordance with Plaid’s End User Privacy Policy (plaid.com/legal) and our Privacy Policy. You represent that you own or are authorized to use each connected account. You can disconnect an account at any time in account settings.
4. Electronic records and signatures
You consent to receive agreements, notices, disclosures and statements electronically, through the Services or at the email address on your account, and to sign documents electronically; electronic records and signatures have the same effect as paper. You may withdraw this consent or request a paper copy by writing to us, which may limit the Services we can provide. Keep a current email address and a device that can open PDF files.
5. Acceptable use
You will not: provide false information or impersonate another person or business; access another user’s account or data; use the Services for any unlawful purpose or in violation of sanctions or anti-money-laundering law; interfere with, probe, scrape, reverse engineer or overload the Services; upload malicious code; or use the Services to build a competing product. We may suspend or terminate accounts that violate these Terms.
6. Data and intellectual property
The Services, including software, designs, reports and trademarks, are owned by Vault and its licensors and are licensed, not sold; you receive a limited, revocable, non-transferable right to use them for your business. You retain ownership of the data you provide and grant Vault a license to use it to provide, secure and improve the Services, to verify you and your receivables, and to share it as described in the Privacy Policy, including with carriers, platforms, banking partners and lenders. We may use aggregated or de-identified data for any purpose.
7. Disclaimers and limitation of liability
The Services are provided “as is” and “as available”, without warranties of any kind, express or implied, including merchantability, fitness for a particular purpose and non-infringement. Vault does not warrant that the Services will be uninterrupted or error-free or that reconciliation results are complete. To the fullest extent permitted by law, Vault and its affiliates, officers, employees and agents will not be liable for indirect, incidental, special, consequential or punitive damages, or for lost profits, revenue or data, and their total liability arising out of the Services or these Terms will not exceed the greater of $100 and the fees you paid to Vault under these Terms in the twelve months before the claim. Obligations under a signed receivables purchase agreement are governed by that agreement, not by this section.
8. Indemnification
You will defend, indemnify and hold harmless Vault and its affiliates from claims, losses and expenses, including reasonable attorneys’ fees, arising from your use of the Services, your data, your violation of these Terms or of law, or your disputes with carriers, platforms, drivers or other third parties.
9. Term and termination
You may close your account at any time. We may suspend or terminate access at any time for violation of these Terms, risk or legal reasons, or discontinuation of the Services, with notice where practicable. Sections 2, 4, 6, 7, 8, 10 and 11 survive termination, as do obligations under any signed receivables purchase agreement.
10. Governing law and disputes
These Terms are governed by the laws of the State of Delaware, without regard to conflict-of-laws rules. Any dispute not resolved informally within 30 days of written notice will be resolved exclusively in the state or federal courts located in Delaware, and each party consents to their jurisdiction and waives trial by jury to the extent permitted by law. A signed receivables purchase agreement that specifies a different forum controls for disputes under that agreement.
11. General
We may change these Terms by posting a revised version with a new effective date and, for material changes, notifying account holders; continued use after the effective date is acceptance. These Terms, the Privacy Policy and any signed agreements are the entire agreement between you and Vault regarding the Services. You may not assign these Terms without our consent; we may assign them to an affiliate or successor. If a provision is unenforceable, the rest remains in effect. Notices to Vault: legal@vaultfinancialtech.com, or Vault Financial Technologies, Inc., 850 New Burton Road, Suite 201, Dover, DE 19904.