Square Consumer Installments
Last updated: July 9, 2019
1. Consumer Loan Application
During your application for any Consumer Credit Service you will be asked for your name and other personally identifying information (e.g., address, date of birth, etc.). You must provide accurate and complete information in response to the questions. You are fully responsible for all activity that occurs during your Use of Service, including for any actions taken by persons to whom you have granted access to your devices or accounts used for taking advantage of our Services. We reserve the right to suspend or terminate access to any of the Services, the Website or any account created for the purposes of accessing the Services or the Website for anyone who provides inaccurate, untrue, or incomplete information, or who fails to comply with the account registration or application requirements.
2. Important Information About Procedures for Opening a New Account
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW 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 Bank will ask for your name, address, date of birth, and other information that will allow Bank to identify you. Bank may also ask to see your driver’s license or other identifying documents.
3. Revisions, Disclosures and Notices
You may not, nor may you permit any third party, directly or indirectly, to:
- engage in activity, which may be subject to export restrictions imposed by U.S. law, including U.S. Export Administration Regulations (15 C.F.R. Chapter VII);
- access or monitor any material or information on any system of Square Capital, its parent company, and/or its affiliates using any manual process or robot, spider, scraper, or other automated means;
- except to the extent that any restriction is expressly prohibited by law, violate the restrictions in any robot exclusion of headers, work around, bypass, or circumvent any of the technical limitations encountered during Use of Service, use any tool to enable features or functionalities that are otherwise disabled in the Services, or decompile, disassemble or otherwise reverse engineer the Services;
- perform or attempt to perform any actions that would interfere with the proper working of the Services, prevent access to or use of the Services by our other customers, or impose an unreasonable or disproportionately large load on our infrastructure;
- copy, reproduce, alter, modify, create derivative works, publicly display, republish, upload, post, transmit, resell or distribute in any way material, information or Services from Square Capital, its parent company, and/or its affiliates;
- use and benefit from the Services for the purposes of a rental, lease, timesharing, service bureau or other arrangement;
- Engage in Use of Service in a way that distracts or prevents you from obeying traffic or safety laws;
- Engage in Use of Service for the purchase or sale of firearms, firearm parts, ammunition, weapons or other devices designed to cause physical harm;
- Engage in Use of Service for any illegal activity or goods or in any way that exposes you, other our partners, or Square Capital its parent company, and/or its affiliates to harm; or
If we reasonably suspect that the Services have been used for an unauthorized, illegal, or criminal purpose, you give us express authorization to share information about you, your account(s), and any of your transactions with law enforcement.
5. Compatible Mobile Devices and Third Party Carriers
We do not warrant that your Use of Service will be compatible with your mobile device or carrier. Use of Service may be subject to the terms of your agreements with your mobile device manufacturer or your carrier. You may not use a modified device for Use of Service if the modification is contrary to the manufacturer’s software or hardware guidelines, including disabling hardware or software controls—sometimes referred to as “jail broken.”
We have implemented technical and organizational measures designed to secure your personal information from accidental loss and from unauthorized access, use, alteration, or disclosure. However, we cannot guarantee that unauthorized third parties will never be able to defeat those measures or use your personal information for improper purposes. You provide your personal information at your own risk.
You are responsible for safeguarding your password and for restricting your Use of Service from your compatible mobile devices and computer(s). You will immediately notify us of any unauthorized use of any password you use or any other breach of security. Notwithstanding Sections 16 and 17, in the event of any dispute between two or more parties as to account ownership, we will be the sole arbiter of such dispute in our sole discretion. Our decision (which may include termination or suspension of Use of Service subject to dispute) will be final and binding on all parties.
You consent to accept and receive communications from us, including e-mail, text messages, calls, and push notifications to the cellular telephone number you provide to us when you inquire about a loan or update your contact information. Such communications may include, but are not limited to communications regarding applications for credit, credit decisions, disclosures, servicing, collections,requests for secondary authentication, receipts, reminders, notifications regarding updates to your account or account support, and marketing or promotional communications. You acknowledge that you are not required to consent to receive promotional texts or calls as a condition of Use of Service. Call and text message communications may be generated by automatic telephone dialing systems. Standard message and data rates applied by your cell phone carrier may apply to the text messages we send you.
You may opt-out of receiving promotional email communications we send to you by following the unsubscribe options on such emails. You may opt out of any promotional phone calls by informing the caller that you would not like to receive future promotional calls. You may also opt-out of text messages at any time by texting END to the number you received a text from. You acknowledge that opting out of receiving communications may impact your Use of Service.
8. Modification and Termination
We may terminate these Use Terms or suspend or terminate your access to any Service, at any time for any reason. We may add or remove, suspend, stop, delete, discontinue or impose conditions on any feature or aspect of a Service as allowed by law. We will take reasonable steps to notify you of termination or these other types of changes by email or at the next time you attempt to gain access to a Service.
9. Effect of Termination
You may submit comments or ideas about our products and services about the Services (“Ideas”). By submitting any Idea, you agree that your disclosure is gratuitous, unsolicited, and without restriction, that it will not place us under any fiduciary, confidentiality or other obligation, and that we are free to use the Idea without any additional compensation to you, and/or to disclose the Idea on a non-confidential basis or otherwise to anyone.
12. Representations and Warranties
13. No Warranties
THE USE OF “SQUARE CAPITAL” IN THIS SECTION 13 AND SECTION 14 MEANS SQUARE CAPITAL, ITS AGENTS, ITS SUPPLIERS, AND ITS LICENSORS (AND THEIR RESPECTIVE SUBSIDIARIES, AFFILIATES, AGENTS, DIRECTORS, AND EMPLOYEES).
THE SERVICES ARE PROVIDED “AS IS” WITHOUT REPRESENTATION OR WARRANTY, WHETHER IT IS EXPRESS, IMPLIED, OR STATUTORY. WITHOUT LIMITING THE FOREGOING, SQUARE CAPITAL SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.
SQUARE CAPITAL DOES NOT WARRANT OR GUARANTEE THAT THE SERVICES ARE ACCURATE, RELIABLE OR CORRECT; THAT THE SERVICES WILL MEET YOUR REQUIREMENTS; THAT THE SERVICES WILL BE AVAILABLE AT ANY PARTICULAR TIME OR LOCATION, UNINTERRUPTED, ERROR-FREE, WITHOUT DEFECT OR SECURE; THAT ANY DEFECTS OR ERRORS WILL BE CORRECTED; OR THAT THE SERVICES ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
Square Capital does not warrant, endorse, guarantee, or assume responsibility for any product or service advertised or offered by a third party. Square Capital does not have control of, or liability for, goods or services that are paid for by your Use of Service.
14. Limitations of Liability and Damages
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL SQUARE CAPITAL BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES, THAT RESULT FROM THE USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE SERVICES. IN ALL CASES, SQUARE CAPITAL WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE THAT IS NOT REASONABLY FORESEEABLE.
UNDER NO CIRCUMSTANCES WILL SQUARE CAPITAL BE RESPONSIBLE FOR ANY DAMAGE, LOSS, OR INJURY RESULTING FROM HACKING, TAMPERING, OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICES, OR THE INFORMATION CONTAINED THEREIN.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE TOTAL LIABILITY OF SQUARE CAPITAL IS LIMITED TO THE GREATER OF (A) THE AMOUNT OF FEES AND INTERESTS EARNED BY US IN CONNECTION WITH YOUR USE OF SERVICE DURING THE THREE (3) MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY, OR (B) $500.
THIS LIMITATION OF LIABILITY SECTION APPLIES WHETHER THE ALLEGED LIABILITY IS BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR ANY OTHER BASIS, EVEN IF SQUARE CAPITAL HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. THE FOREGOING LIMITATION OF LIABILITY WILL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
15. Third Party Products and Representations
Your Use of Service may cause you to purchase, engage, or otherwise use third party products. Selection and use of third party products shall be your responsibility and according to the warranty and other terms specified by the manufacturer or the merchant, who is solely responsible for service and support for its product. For service, support, or warranty assistance, you should contact the manufacturer or the merchant directly. SQUARE CAPITAL MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO SUCH THIRD PARTY PRODUCTS, AND EXPRESSLY DISCLAIMS ANY WARRANTY OR CONDITION OF MERCHANTABILITY, NON-INFRINGEMENT, OR FITNESS FOR A PARTICULAR PURPOSE.
17. Binding Individual Arbitration
You and Square Capital agree to arbitrate all Claims.
You and Square Capital agree that Square Capital, Square Capital’s parent company, Bank, and each of their subsidiaries, affiliates, agents, employees, predecessors, successors, or assigns and any authorized users or beneficiaries of the Square Installments program, are intended to be, and shall have the rights of, a third party beneficiary of this section of this Agreement.
Arbitration is more informal than a lawsuit in court and seeks to resolve Claims more quickly. Instead of a judge or a jury, the Claim will be decided by a neutral arbitrator.
YOU AND WE ARE WAIVING THE RIGHT TO LITIGATE A CLAIM IN COURT AND TO HAVE A JURY TRIAL ON ANY CLAIM.
ANY ARBITRATION UNDER THIS AGREEMENT WILL ONLY BE ON AN INDIVIDUAL BASIS; CLASS ARBITRATIONS, CLASS ACTIONS, PRIVATE ATTORNEY GENERAL ACTIONS, AND CONSOLIDATION WITH OTHER ARBITRATIONS ARE NOT PERMITTED. AN ARBITRATOR CAN AWARD RELIEF ONLY ON AN INDIVIDUAL BASIS. YOU WILL NOT HAVE THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR AS A PRIVATE ATTORNEY GENERAL RELATING TO ANY CLAIM.
Individual Claims filed in small claims court are not subject to this Arbitration Agreement, as long as the Claim remains in small claims court.
All Claims shall be resolved finally and exclusively by binding individual arbitration with a single arbitrator administered by the American Arbitration Association (“AAA”) according to this provision and the applicable AAA rules, which may limit the discovery available to you or to us. You can obtain copies of the AAA rule and forms by contacting AAA at 1-800-778-7879 or www.adr.org. Any arbitration hearing that you attend will take place in the federal judicial district where you reside as of the date you execute this Agreement. Square Capital will pay all arbitration fees.
The arbitrator will apply applicable substantive law consistent with the Federal Arbitration Act, 9 U.S.C. §§ 1-16 (“FAA”) and applicable statutes of limitations, and will honor claims of privilege recognized at law.
The arbitrator’s award shall be binding on the parties and may be entered as a judgment in any court of competent jurisdiction. While an arbitrator may award declaratory or injunctive relief, the Arbitrator may do so only with respect to the individual party seeking relief and only to the extent necessary to provide relief warranted by the individual party’s claim. The arbitrator’s decision and judgment thereon will not have a precedential or collateral estoppel effect on claims asserted by any individual or entity who was not party to the arbitration.
If any provision of this arbitration agreement is found unenforceable, the unenforceable provision will be severed, and the remaining arbitration terms will be enforced (but in no case will there be a class or representative arbitration). The Arbitration Agreement shall be governed by the FAA. If a court or arbitrator decides that this arbitration agreement cannot be enforced as to a particular claim for relief, then that claim (and only that claim) must be severed from the arbitration and may be brought in court.
18. Governing Law
20. Third Party Services and Links to Other Websites
You may be offered services, products and promotions provided by third parties and not by Square Capital and/or its affiliates, including, but not limited to, third party developers who use Square Capital’s and/or its affiliates’ services (“Third Party Services”). If you decide to use Third Party Services, you will be responsible for reviewing and understanding the terms and conditions for these services. We are not responsible or liable for the performance of any Third Party Services. Further, you agree to resolve any disagreement between you and a third party regarding the terms and conditions of any Third Party Services with that third party directly in accordance with the terms and conditions of that relationship, and not Square Capital and/or its affiliates. The Services may contain links to third party websites. The inclusion of any website link does not imply an approval, endorsement, or recommendation by Square Capital and/or its affiliates. Such third party websites are not governed by these Use Terms. You access any such website at your own risk. We expressly disclaim any liability for these websites. When you use a link to go from the Services to a third party website, our Privacy Notice is no longer in effect. Your browsing and interaction on a third party website, including those that have a link in the Services is subject to that website’s own terms, rules and policies.
21. Other Provisions