ViaBill Free Terms and Conditions

Provided by First Electronic Bank, Member FDIC

Summary of key terms

Lender: First Electronic Bank, member FDIC c/o ViaBill, 228 Park Ave S, #300 New York, NY 10003 1-929-242-1100
Payments: Generally, four payments of one-fourth of the Purchase Price, payable today and on the last banking day of the next three calendar months. A modified schedule will apply if you have an outstanding loan at a time we make a new loan to you.
Interest Rate: 0%
Late charge: For any late payment, the lesser of $29 or the amount of your scheduled payment.

Arbitration Notice: Arbitration Notice: EXHIBIT A IS AN ARBITRATION CLAUSE WHICH WILL APPLY TO YOU UNLESS YOU REJECT IT AS PROVIDED IN EXHIBIT A. IF APPLICABLE, THE ARBITRATION CLAUSE WILL SIGNIFICANTLY AFFECT YOUR RIGHTS IF A DISPUTE ARISES BETWEEN YOU AND US. FOR EXAMPLE, YOU WILL NOT BE ABLE TO BRING OR PARTICIPATE IN A CLASS ACTION RELATING TO MATTERS ARISING UNDER THIS AGREEMENT. INDIVIDUALS PROTECTED BY THE MILITARY LENDING ACT ARE NOT SUBJECT TO THE ARBITRATION CLAUSE IN THIS AGREEMENT.

AGREEMENT TERMS

By choosing to pay for your purchase of goods and/or services (“Products”) from a participating merchant (“Merchant”) with a ViaBill Free Installment Loan Agreement from First Electronic Bank, member FDIC (“Bank”), you agree to the terms of this ViaBill Free Installment Loan Agreement, including the Arbitration Clause in Exhibit A (the “Agreement”). In this Agreement, the words “you,” “your” and “yours” mean the purchaser of the Products, who elected to pay for the Products in part through the proceeds of a loan under this Agreement (the “Loan”); the terms “Lender,” “we,” “us” and “our” mean Bank and/or its successors and assigns; and “ViaBill” means ViaBill, Inc., a company that assists Bank in connection with the Loan. This Agreement applies to each purchase you make with a loan from us. Please keep a copy of the Agreement for your records and read it carefully.

1. Loan; Promise to Pay; Add-On Purchase; Freeze of Credit Card or Debit Card Funds:

(a) In order to obtain a Loan, you must electronically sign our Recurring Online Payment Authorization (the “Payment Authorization”), which authorizes us to initiate payments from the debit or credit card account you have identified (the “Payment Account”). You must also electronically authorize our service provider, Plaid Technologies, Inc. or any substitute provider (“Plaid”), to obtain, and provide to us, data about the Payment Account from the issuer/provider of the Payment Account. We will not approve a Loan unless Plaid advises that the Payment Account has sufficient funds available to pay the Loan in full and we are able to initiate a successful payment of the amount due on the purchase date, as provided below. 

(b) We will separately review each Loan request you make. Our approval of one Loan, even if you decide to obtain a smaller Loan, does not mean we will approve a subsequent Loan. If we approve you for a Loan, we will make the Loan to you by paying the Merchant for the Products you are purchasing. You promise to pay us the purchase price for the Products, including applicable taxes and/or shipping and handling charges (the “Purchase Price”), pursuant to the Payment Authorization.

(c) f we agree to make a Loan when you do not owe us any money on a prior outstanding Loan, you must pay us in four substantially equal payments, payable on the day of the purchase and on the same day for the next three (3) calendar months. For example, if you have no outstanding Loan from a prior purchase and make a $200 purchase on June 15, your payment schedule would be $50 on June 15, $50 on July 15, $50 on August 15and $50 on September 15(assuming these last three dates are all banking days).

(d) If we agree to make a new Loan for a new purchase when you do owe us money on a prior outstanding Loan, the new Loan will provide funds for the new purchase and refinance any prior outstanding Loan. In this case, you will pay us one-fourth of the Purchase Price of the new purchase on the day of the purchase. At the time of your new Loan, we will take any remaining balance on your prior Loan, add the remaining amount(s) due on any new purchase(s) not included in your prior outstanding Loan balance and determine the amounts needed to pay off this sum in three substantially equal additional payments. These three payments are payable on the existing due date for the outstanding loans. For example, if you have $30 outstanding on a Loan from a prior $40 purchase, and the due date for that loan is the 1st day of each calendar month, and you subsequently make a new $40 purchase on June 15, you will pay $10 on June 15 (i.e., one-fourth of $40), and then three payments of $20 (i.e., the sum of the $30 balance remaining on the original loan and the $30 remaining on the new purchase divided by three) on July 1, August 1 and September 1 (assuming the last days of July, August and September are banking days). Your due date does not change with subsequent purchases.

(e) If any payment date falls on a weekend or holiday, a payment made by the next business day will be treated as timely.

(f) You authorize Plaid to obtain and provide Payment Account information to us and agree to your personal and financial information being transferred, stored, and processed by Plaid, in accordance with the Plaid Privacy Policy, which can be found here: https://plaid.com/legal. (As used in the Plaid Privacy Policy, you are an “End-User” and we are a “Client.”) PLAID WILL CONTINUE TO ACCESS YOUR ACCOUNT INFORMATION AFTER THE LOAN IS MADE AND REPAID UNLESS AND UNTIL YOU CHANGE YOUR PAYMENT ACCOUNT LOG-IN USER ID OR PASSWORD OR REVOKE YOUR CONSENT TO ACCESS THIS INFORMATION.

2. Late Charges: If you fail to make any payment by its due date, you agree to pay us on demand in the maximum amount of up to $29, certain state limitations may apply, the amount of your scheduled payment, or the maximum amount permitted by applicable law, whichever is the least.

3. Prepayment: You may prepay the Loan in whole or in part at any time without penalty. A partial prepayment will not reduce upcoming payments until the Loan is paid in full.

4. Irregular Payments: We may accept late payments, partial payments, disputed payments or payments marked with restrictive writing, such as “Paid in Full” or similar language, without losing any of our rights under this Agreement. If you wish to make a payment in satisfaction of a disputed amount or balance, you must send it to First Electronic Bank at the address set forth at the top of the first page of this Agreement, as such address may be modified by notice to you (the “Notice Address”), Attn: Legal Department, with a letter of explanation. Despite any such language, we may deposit any such payment without such deposit satisfying the amount in dispute or otherwise affecting our right to receive payment in full.

You may not use a post-dated check as a payment. If you do, we may return or deposit such check without waiting for the date found on the check. We are not liable to you for any expense or loss you incur arising from the actions we may take with respect to a post-dated check.

5. Returns and Exchanges: Any return, cancellation or exchange of the Products is a matter between you and Merchant, subject to Merchant’s return policy. It will not impact the amount you owe under this Agreement.

6. Product Questions and Issues: Please contact Merchant with any questions regarding the Products.

7. Events of Default: To the extent permitted by applicable law and subject to any restrictions under Section 17, we may declare you to be in default under this Agreement if you fail to make any payment when due and, in such event, (a) declare the entire Loan to be immediately due and payable; (b) deny you credit in the future; and/or (c) charge you all reasonable collection expenses we incur, including attorneys’ and collection agency fees and charges.

8. Transfer of Rights and Obligations: We may transfer, sell, or assign this Agreement and/or any of our rights under this Agreement at any time and without notice to you. You may not transfer or assign your rights or obligations under this Agreement. You further understand and agree that we and any assignee of the Loan Agreement may share account information with any servicer or sub-servicer.

9. Credit Reports and Reporting; Identity Theft: You give us permission to request information and to make whatever inquiries we consider necessary and appropriate (including obtaining information from third parties and requesting consumer reports from consumer reporting agencies) for the purpose of considering your application for credit and subsequently in connection with any product upgrades or offers or the collection of your Account. You also authorize us to report information concerning you or this Agreement, including information about your performance under this Agreement, to consumer reporting agencies and others who may properly receive such information. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit bureau report. If you believe that any information that we have reported to a credit bureau is inaccurate or incomplete, you may write to us at the Notice Address. In your letter, (a) provide your name, (b) the date of this Agreement, (c) identify the specific information that is being disputed, (d) explain the basis for the dispute, and (e) provide any supporting documentation you have that substantiates the basis of the dispute. We will investigate the matter. If our investigation shows that you are right, we will contact each credit reporting agency to which we reported the information and will request they correct the report. If we disagree with you after our investigation, we will tell you in writing.

If you believe that you have been the victim of identity theft, submit an identity theft report and affidavit to us at the Notice Address.

10. Change of Contact Information: You agree to notify us promptly if you change your name, address, email address, telephone number or any other contact information. You also agree that if the U.S. Postal Service or one of its agents notifies us of a change in address for you, we may change your address based on this information. We will have no liability to you for changing your address based on such information, even if the information provided by the U.S. Postal Service or one of its agents is in error.

11. Telephone Communication Monitoring and Contacting You: You agree that your telephone communications with us, ViaBill and each of our and its representatives, affiliates, agents and service providers (the “Communicating Parties”) may be monitored, recorded and retained by any of them, although they have no obligation to do so. You expressly authorize the Communicating Parties to contact you at any telephone number you provide to the Communicating Parties now or in the future, or any number you have previously provided to the Communicating Parties, using an autodialer, pre-recorded messages, and/or text messages, in order to provide alerts and other information regarding your current or future applications, agreements and accounts for all products you have had, currently have, or may have with us. Message and data rates may apply. You also expressly consent to the Communicating Parties sending email messages to your email address, including emails delivered to a cell phone or mobile device. You agree that you will accept calls at your home, place of business or on a mobile telephone regarding this Agreement. You understand and agree that because calls may be automatically dialed and that a message may be automatically delivered or played, calls and messages may be read or listened to by anyone with access to your telephone or email account, and that such calls are not “unsolicited calls” for purposes of any state or federal law, and you expressly consent to receive such calls and messages. You agree that the Communicating Parties are not liable for any resulting breach of privacy or for any charges or costs you incur in connection with text messaging, emails or other communications that the Communicating Parties may send you. You agree that this authorization constitutes a bargained for exchange and that, unless applicable law permits you such a right, you may not unilaterally revoke this authorization. To the extent you have a right to unilaterally revoke this authorization, you agree you may do so only by writing to us at the Notice Address or by sending an email to us at help@viabill.com.

12. Communications under Federal Bankruptcy Code: Any communication with us required or permitted under the Federal Bankruptcy Code must be in writing and must be sent to us at the Notice Address, Attn: Bankruptcy Notice.

13. GOVERNING LAW; CLASS ACTION WAIVER: THE TERMS OF THIS AGREEMENT AND ANY DISPUTES RELATING TO THIS AGREEMENT SHALL BE GOVERNED AND INTERPRETED IN ACCORDANCE WITH FEDERAL LAW AND, TO THE EXTENT STATE LAW APPLIES, THE LAW OF THE STATE OF UTAH, WITHOUT REGARD TO CONFLICT-OF-LAW PRINCIPLES. YOU EXPRESSLY WAIVE YOUR RIGHT TO INITIATE OR PARTICIPATE IN A CLASS ACTION RELATED TO THIS AGREEMENT PURSUANT TO UTAH CODE ANN. § 70C.

14. Waiver of Jury Trial: You acknowledge that the right to trial by jury is a constitutional right but may be waived in certain circumstances. To the extent permitted by law, you knowingly and voluntarily waive any right to trial by jury in the event of litigation arising out of or related to this Agreement. This jury trial waiver shall not affect or be interpreted as modifying in any fashion the Arbitration Clause in Exhibit A, which has its own separate jury trial waiver.

15. Enforceability: Except as otherwise provided in the Arbitration Clause in Exhibit A, if any term of this Agreement is finally determined to be void or unenforceable by a court or government agency of competent jurisdiction, that term will continue to be enforceable to the extent allowed by such court of agency, and the remainder will no longer be a part of this Agreement. All other provisions of this Agreement will remain in effect.

16. Agreement in Writing: This Agreement is the final expression of the agreement between you and us and it may not be contradicted by evidence of an alleged oral agreement.

17. Additional Disclosures and Limitations

CALIFORNIA AND UTAH RESIDENTS: As required by California and Utah law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.

IOWA, MISSOURI, NEBRASKA, AND TEXAS RESIDENTS ONLY: ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR FORBEAR FROM ENFORCING REPAYMENT OF DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE. TO PROTECT YOU AND US FROM ANY MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT.

NEW YORK, RHODE ISLAND AND VERMONT RESIDENTS: You understand and agree that we may obtain a consumer credit report in connection with any updates, renewals or extensions of any credit as a result of your application. If you ask, you will be informed whether or not such a report was obtained and, if so, the name and address of the agency that furnished the report. You also understand and agree that we may obtain a consumer credit report in connection with the review or collection of any extension of credit made to you or for other legitimate purposes related to such extension of credit.

WISCONSIN RESIDENTS ONLY: We may declare you to be in default if you permit to be outstanding an amount exceeding one full payment for more than 10 days after its due date or you fail to pay the last payment within 40 days of its scheduled due date.

MARRIED WISCONSIN RESIDENTS: If you are married: (i) you confirm that the Loan is being incurred in the interest of your marriage or family; (ii) no provision of any marital property agreement, unilateral statement, or court decree under the Wisconsin Marital Property Act will adversely affect our interest unless, before the time credit is granted, we are furnished a copy of that agreement or decree or are given complete information about the agreement or decree; and (iii) you understand and agree that we will provide a copy of this Agreement to your spouse for his or her information. If the Loan is granted, you will notify us if you have a spouse by sending your name and your spouse’s name and address to us at the Notice Address.

ARBITRATION CLAUSE—EXHIBIT A

We have put this Arbitration Clause (“Clause”) in question and answer form to make it easier to understand. However, this Clause is part of this Agreement and is legally binding. For purposes of this Clause, “we,” “us,” “our” and related words include the Bank and ViaBill, and our Notice Address is: 228 Park Ave S, #300 New York, NY 10003 

Background and Scope.

Questions
Short answer
Further Detail
What is arbitration?
An alternative to a court case

In arbitration, a third party arbitrator (“TPA”) resolves “Claims” (as defined below) in a hearing. It is less formal than a court case.

Is it different from court and jury trials?
Yes

The hearing is private. There is no jury. It is usually less formal, faster and less expensive than a lawsuit. Pre-hearing fact finding (called “discovery”) is limited. Appeals are limited. Courts rarely overturn arbitration awards.

Can you opt-out of this Clause?
Yes, within 60 days

If you do not want this Clause to apply, you must send us a signed notice within 60 calendar days after you agree to this Agreement. You must send the notice in writing (and not electronically) to our Notice Address, Attn. Arbitration Opt-Out Notice. Provide your name, address and date. State that you “opt out” of the arbitration clause.

What is this Clause about?
The parties’ agreement to arbitrate Claims

Unless you opt out, you and we agree that any party may elect to arbitrate or require arbitration of any “Claim” as defined below.

Who does the Clause cover?
You, us, Cred and certain “Related Parties”

This Clause governs you, us and our “Related Parties”: (1) our parents, subsidiaries and affiliates; (2) employees, directors, officers, shareholders, members and representatives of ours or such other entities; and (3) any person or company, including Merchant, that is involved in a Claim you pursue at the same time you pursue a related Claim against us.

What Claims does the Clause cover?
All Claims (except certain Claims about this Clause)

This Clause governs all “Claims” that would usually be decided in court and are between us or any Related Party and you. In this Clause, the word “Claims” has the broadest reasonable meaning. It includes contract and tort (including intentional tort) claims and claims under constitutions, statutes, ordinances, rules and regulations. It includes all claims even indirectly related to the Account, your application for the Account, this Agreement or our relationship with you. It includes claims related to collections, privacy and customer information. It includes claims related to the validity in general of this Agreement.

However, it does not include Claims about the validity, coverage or scope of this Clause or any part of this Clause. All such Claims are for a court and not the TPA to decide.

Who handles the arbitration?
Usually AAA or JAMS

Arbitrations are conducted under this Clause and the rules of the arbitration company in effect at the time the arbitration is commenced. However, arbitration rules that conflict with this Clause do not apply. The arbitration company will be either:

  • The American Arbitration Association (“AAA”), 1633 Broadway, 10th Floor, New York, NY 10019, www.adr.org.
  • JAMS, 620 Eighth Avenue, 34th Floor, New York, NY 10018, www.jamsadr.com.
  • Any other company picked by agreement of the parties.

If all the above options are unavailable, a court will pick the arbitration company. No arbitration brought on a class basis may be administered without our consent by any arbitration company that would permit class arbitration under this Clause. The TPA will be selected under the arbitration company’s rules. However, the arbitrator must be a lawyer with at least ten years of experience or a retired judge unless you and we otherwise agree.

Can Claims be brought in court?
Sometimes

You or we may bring a lawsuit if the other party does not demand arbitration. We will not demand arbitration of any lawsuit you bring as an individual action in small-claims court. However, we may demand arbitration of any appeal of a small-claims decision or any small-claims action brought on a class basis.

Are you giving up any rights?
Yes

For Claims subject to this Clause, you give up your right to:

  1. Have juries decide Claims.
  2. Have courts, other than small-claims courts, decide Claims.
  3. Serve as a private attorney general or in a representative capacity.
  4. Join a Claim you have with a Claim by other consumers if we object.
  5. Bring or be a class member in a class action or class arbitration.

We also give up the right to a jury trial and to have courts decide Claims you wish to arbitrate.

Can you or another consumer start class arbitration
No

The TPA is not allowed to handle any Claim on a class or representative basis. All Claims subject to this Clause must be decided in an individual arbitration or an individual small-claims action. This Clause will be void if a court rules that the TPA can decide a Claim on a class basis and the court’s ruling is not reversed on appeal.

What happens if part of this Clause cannot be enforced?
It depends.

If any portion of this Clause cannot be enforced, the rest of this Clause will continue to apply, except that:

  • If a court rules that the TPA can decide a Claim on a class or other representative basis and the court’s ruling is not reversed on appeal, only this sentence will apply and the remainder of this Clause will be void.

AND

  • If a party brings a Claim seeking public injunctive relief and a court determines that the restrictions in this Clause prohibiting the TPA from awarding relief on behalf of third parties are unenforceable with respect to such Claim (and that determination becomes final after all appeals have been exhausted), the Claim for public injunctive relief will be determined in court and any individual Claims seeking monetary relief will be arbitrated. In such a case the parties agree to request that the court stay the Claim for public injunctive relief until the arbitration award pertaining to individual relief has been entered in court.

In no event will a Claim for class relief or public injunctive relief be arbitrated.

What law applies?
The Federal Arbitration Act (“FAA”)

This Agreement involves interstate commerce. Thus, the FAA governs this Clause. The TPA must apply substantive law consistent with the FAA. The TPA must honor statutes of limitation and privilege rights. Punitive damages are governed by the constitutional standards that apply in judicial proceedings.

Will anything you do make this Clause ineffective?
No

This Clause stays in force even if: (1) this Agreement ends; or (2) we transfer or assign our rights under this Agreement.

Process.

Question
Short answer
Further Detail
What must a party do before starting a lawsuit or arbitration?
Send a written Claim Notice and work to resolve the Claim

Prior to initiating, joining or participating in any judicial or arbitration proceeding, whether individually, as a class representative or participant or otherwise, regarding any Claim, the party asserting the Claim (the “Claimant”) must give the other party written notice of the Claim (a “Claim Notice”) and a reasonable opportunity, not less than 30 days, to resolve the Claim. Any Claim Notice you send must include your name, address, telephone number and Loan date. Any Claim Notice must explain the nature of the Claim and the relief that is demanded. You may only submit a Claim Notice on your own behalf and not on behalf of any other party. The Claimant must reasonably cooperate in providing any information about the Claim that the other party reasonably requests.

How does arbitration start?
Mailing a notice

If the parties do not reach an agreement to resolve the Claim within 30 days after notice of the Claim is received, the Claimant may start a lawsuit or arbitration, subject to the terms of this Clause. To start arbitration, the Claimant picks the arbitration company and follows the arbitration company’s rules. If one party starts or threatens a lawsuit, the other party can demand arbitration. This demand can be made in court papers. It can be made if a party starts a lawsuit on an individual basis and then tries to pursue a class action. Once an arbitration demand is made, no lawsuit can be brought and any existing lawsuit must stop.

Will any hearing be held nearby?
Yes

The TPA may decide that an in-person hearing is unnecessary and that he or she can resolve a Claim based on written filings and/or a conference call. However, any in-person arbitration hearing must be held at a place reasonably convenient to you.

What about appeals?
Very limited

Appeal rights under the FAA are very limited. The TPA’s decision will be final and binding, except for any FAA appeal right. Any appropriate court may enter judgment upon the arbitrator’s award.

Do arbitration awards affect other disputes?
No

No arbitration award involving the parties will have any impact as to issues or claims in any dispute involving anyone who is not a party to the arbitration, nor will an arbitration award in prior disputes involving other parties have any impact in an arbitration between the parties to this Clause.

Arbitration Fees and Awards.

Question
Short answer
Further Detail
Who bears arbitration fees?
Usually, we do

We will pay all filing, administrative, hearing and TPA fees if you act in good faith, cannot get a waiver of such fees and ask us to pay.

When will we cover your legal fees and costs?
If you win

If you win an arbitration, we will pay your reasonable fees and costs for attorneys, experts and witnesses. We will also pay these amounts if required under applicable law or the arbitration company’s rules or if payment is required to enforce this Clause. The TPA shall not limit his or her award of these amounts because your Claim is for a small amount.

Will you ever owe us for arbitration or attorneys' fees?
Only for bad faith

The TPA can require you to pay fees incurred by us if (and only if): (1) the TPA finds that you have acted in bad faith (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)); and (2) this power does not make this Clause invalid.

Can a failure to resolve a Claim informally result in a larger recovery for you?
Yes

You are entitled to an arbitration award of at least $7,500 if: (1) you give us notice of a Claim on your own behalf (and not on behalf of any other party) and comply with all of the requirements of this Clause (including the requirements described in response to the question reading “What must a party do before starting a lawsuit or arbitration?)”; and (2) the TPA awards you money damages greater than the last amount you requested at least ten days before the arbitration commenced. This is in addition to the attorneys’ fees and expenses (including expert witness fees and costs) to which you are otherwise entitled. This $7,500 minimum award is a single award that applies to all Claims you have raised or could have raised in the arbitration. Multiple awards of $7,500 for you are not contemplated by this Clause. Settlement demands and offers are strictly confidential. They may not be used in any proceeding by either party except to justify a minimum recovery of $7,500.

Can an award be explained?
Yes

A party may request details from the TPA, within 14 days of the ruling. Upon such request, the TPA will explain the ruling in writing.

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