Balance Supplier Payments Terms
Last updated: September 23rd, 2024
These Balance Supplier Payments Terms (“Terms”) are supplementary to the Balance Services Agreement (the “Agreement”) and the Balance B2B Payment Solutions Terms within it, and apply to use of the functionality within the Balance Platform (as defined in the Agreement) which enables Customer to make one-time and recurring payments to vendors or suppliers for Customer’s purchase of goods or services from them for their internal business use only.
Balance Payments Inc. provides users with a B2B payment solutions that enables them to procure goods or services to use for their business, including via using ‘Stripe Connect’ enabled by Stripe Inc to make payments to third parties.
In such cases, Balance or Stripe are not offering such vendors or suppliers any services directly, including but not limited to, payment services or financing services. Balance and Stripe will facilitate the transfer of funds to such third party based on instructions given to Balance or Stripe as applicable.
Each person who receives such payments from a Balance customer represents, warrants and covenants to such Balance customer and to Balance that such person is not engaged, and will not at any time engage, in any business, activities or practices which are prohibited by applicable law.