Square Installments Seller Terms of Service
Last Updated: November 8, 2018
These Square Installments Seller Terms of Service (the “Installments Terms”) are a legal agreement between you and Square Capital, LLC, a subsidiary of Square, Inc. (“Square Capital,” “we,” “our” or “us”). By participating in Square Installments (the “Program”), you agree to be bound by these Installments Terms, the E-Sign Consent, the General Terms of Service (“General Terms”), and all other terms, policies, and guidelines applicable to your use of the Program, including terms that limit our liability and require individual arbitration for any potential legal dispute. If you are using the Program on behalf of a business or entity, that business or entity accepts these terms. Defined terms will have the same meaning as those found in the General Terms, unless otherwise defined here.
1. The Program.
Under the Program, Square Capital will provide consumer loan offers for your customers or potential customers (“customer or customers”) to allow them access to an alternative way to finance a purchase from you. Upon your customer’s acceptance of a loan from Square Capital to finance, as defined below, a purchase of goods and/or services from you, Square Capital will instruct Square, Inc. (“Square”), as payment processor, to electronically pay to you the proceeds of the amount financed by your customer (“loan proceeds”). You authorize Square Capital and/or Square to make such electronic payments. Square Capital will solely determine which transactions, if any, will include a loan offer and whether or not any particular customer qualifies for a loan under the Program. If you wish to stop being a participant in the Program, you may do so by sending written notice to us at firstname.lastname@example.org.
2. Program Restrictions and Requirements.
By being a participant in the Program, you represent, warrant, and covenant that:
You or your employees, associates, or other individuals acting on your behalf will act in compliance with the terms of these Installments Terms, applicable laws, and any materials, training, manuals, and/or instructions provided to you by Square Capital;
You will not alter or change any materials produced, distributed, and/or approved by Square Capital, including customer-facing signage or other marketing materials. If you want to alter or change any such materials, or otherwise use materials not already produced, distributed and/or approved by Square Capital, you must first obtain our written consent;
You will only discuss the Program with your customers in compliance with the terms of these Installments Terms, applicable laws, and any materials, training, manuals, and/or instructions provided to you by Square Capital, including referring prospective and/or actual applicants to the materials produced, distributed, and/or approved by Square Capital;
The transaction that underlies any loan, loan application, and/or loan offer from Square Capital to your customer is not made for business and/or commercial purposes;
The transaction that underlies any loan, loan application, and/or loan offer from Square Capital to your customer represents a bona fide, actual sale of good(s) and/or service(s) (“goods and/or services”);
You have delivered and/or provided, or will deliver and/or provide, the goods and/or services to your customer;
You will not use the Program to facilitate a sale to yourself, a family member, or to any employee or affiliate of your business;
You will not use your information, nor commingle your information with your customer’s information, to apply for a Square Capital loan;
You will not provide false information or otherwise misrepresent any aspect of the Program to your customer;
You will not induce your customer to fraudulently complete a loan application or aid in their doing so in any way;
In the event of a dispute between you and your customer regarding the goods and/or services, you will first make good faith attempts to resolve the issue directly with your customer. In the event of a dispute between you and your customer, you will cooperate with any requests, outreach, and/or other communications from Square Capital;
You will cooperate with Square Capital to ensure the Program is compliant with the terms of these Installments Terms, applicable laws, and any materials, training, manuals, and/or instructions provided to you by Square Capital; and
You will cooperate with us in connection with any matter that may arise relating to the Program, including any arbitration, regulatory action, or other dispute.
3. Consent to Debit/Return of Loan Proceeds.
If we reasonably determine you are in violation of these Installments Terms, or if a return of loan proceeds is otherwise authorized or required by the terms of these Installments Terms, you agree to return such loan proceeds. In addition to any other rights or remedies provided in your Terms with us, you authorize Square Capital, through Square’s payment processing services or other channels, to electronically debit your linked bank account and/or your Square Account in the affected amount associated with the loan transaction.
4. Additional Terms Regarding Certain Disputes Over Goods and/or Services.
In the event your customer claims that you have not delivered and/or provided the goods and/or services for which you received loan proceeds, then Square Capital will give you an opportunity to submit information and/or documentation to dispute the customer’s claim(s). You must provide Square Capital such information and/or documentation within the response time we specify in our communication(s) to you. If Square Capital reasonably determines that you delivered and/or provided the goods and/or services, then you will not be required to return loan proceeds to Square Capital.
You agree to return loan proceeds to Square Capital when one or more of the following occurs:
If you do not submit complete information and/or documentation to dispute the customer’s claim(s) within the response time we specify in our communication(s) to you;
If Square Capital reasonably determines that you did not deliver and/or provide the goods and/or services; or
If your customer is otherwise successful in reversing a debit charge, such as by disputing the charge through their bank, on grounds that you did not deliver and/or provide the goods and/or services.
If your customer is entitled to a refund for a transaction for which you received loan proceeds, you will return such proceeds to Square Capital, either via your Square Account or as otherwise directed by Square Capital.
6. Use of Square Marks.
Square Capital and/or Square may also periodically make available certain Square logos, trademarks, boilerplate, and/or other identifiers (the “Square Marks”) for your use to promote the Program. If we do so, you will submit mockups of your intended and/or actual use of the Square Marks for Square Capital’s and/or Square Inc.’s prior and/or subsequent review and approval. All use of the Square Marks shall inure to the benefit of Square Capital and/or Square.
7. Other Provisions.
These Installments Terms is a complete statement of the agreement between you and Square Capital regarding the Program and supersedes any and all prior contracts and understandings regarding the Program.