Please read this Uncapped Business Account Agreement (the “Agreement”) carefully and retain it for your future reference. This Agreement contains the general terms, conditions and disclosures related to the demand deposit account (the “Account”) made available to eligible businesses by Uncapped Technologies Inc. (“Program Partner”), the program partner responsible for managing the Account program, in partnership with Blue Ridge Bank, N.A. (“Bank”).
When you see the words “we,” “us,” or “our” in this Agreement, it refers to the Bank, the Program Partner acting as agent for the Bank, and any of the Bank’s affiliates, successors, assignees, agents or service providers. When you see the words “you” or “your,” it refers to you, the commercial owner of the Account, as well as your Authorized Users, representatives, officers, agents and successors.
By opening or continuing to hold an account with us, you agree to be bound by this Agreement as well as any other agreement or document we may provide to you from time to time in connection with the Account.
IMPORTANT NOTE: THIS AGREEMENT IS SUBJECT TO BINDING ARBITRATION AND A WAIVER OF CLASS ACTIONS AND YOUR RIGHT TO A JURY. THE TERMS OF ARBITRATION AND THE WAIVER APPEAR IN SECTION 8 OF THIS AGREEMENT.
1 Account Overview
1.1 How to Contact Us
You may contact us with any questions or concerns regarding your Account. All communication between you and us will be handled by the Program Partner. The best way to contact us is through the Online Banking Services (see Section 1.3 of the Agreement). If you cannot reach us via the online support tools accessible at weareuncapped.com, you can also contact us via email at support@weareuncapped.com
1.2 Type of Account and Eligibility
The Account is a non-consumer demand deposit account used to hold your business deposits and make certain types of payments and transfers. To open an Account, you must be a sole proprietorship, corporation, unincorporated association, limited liability company, limited liability partnership, or partnership (collectively, “Business Entity”) within the fifty (50) United States, the District of Columbia, and all U.S. territories. Other eligibility requirements may apply. This Account may only be used for business purposes and cannot be used for any personal, family or household purposes.
We may decline to open an Account for any reason at the sole discretion of the Bank or Program Partner. We are not liable for any damages or liabilities resulting from refusal of an Account relationship.
1.3 Online or Mobile Access To Your Account
When you open an Account, you will also be enrolled in an online business banking service or mobile application (collectively, “Online Banking Services”) offered by the Program Partner that you can use to access your Account, view information about your Account and conduct certain transactions. You may also be given access to various features through the Online Banking Services separate from your Account. If you cancel your enrollment in the Online Banking Services at any time, we may close your Account (see Section 3.13 below).
Unless otherwise specified in this Agreement, the Online Banking Services and any of its features are governed by the Program Partner’s Terms of Use, available at https://www.weareuncapped.com/terms-of-use, and Privacy Policy, available at https://www.weareuncapped.com/privacy-policy. Please review these documents carefully because by using the Online Banking Services, you agree to be bound by them. These services are not provided or controlled by the Bank or this Agreement, and you agree not to hold the Bank liable for issues that may arise from your use of the services or features.
1.4 Paperless Account
To open an Account, you must agree to go “paperless.” This means that you must (1) provide us with and continue to maintain a valid email address and (2) accept electronic delivery of all communications that we need or decide to send you in connection with your Account by agreeing to our Electronic Disclosure and Consent, available at https://weareuncapped.com/electronic-disclosure-and-consent.
1.5 Authorized Users
You may be given the ability to designate additional individuals (“Authorized Users”) who you authorize to access your Account and/or conduct transactions through your Account. By establishing an Authorized User, you understand that any transaction authorization, instruction or any other action concerning your Account that your Authorized User engages in shall be deemed authorized by you and valid and we are under no obligation to investigate the authorization, instruction or activity. You also agree that you will not hold us liable for acting upon any such authorization, instruction or activity. We will continue to treat all actions taken by your Authorized User as authorized by you until you revoke the Authorized User’s access to your Account by notifying us using the online support tools on our website or app. We also reserve the right to terminate your Authorized User’s access to the Account for any reason and without advance notice.
1.6 How To Open an Account
You may open an Account by visiting the Program Partner’s website, weareuncapped.com, and follow the instructions posted there.
Any person completing the Account opening process or otherwise completing any Account opening requirements represents and agrees that they:
We may refuse to recognize any resolution or document affecting the Account that appears to us to be incomplete, improperly executed, or fraudulent.
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 identifying each person who opens an Account. This means that when you open an Account, we will ask for information that allows us to identify you. We may ask for a driver’s license or other identifying documents for your business, Authorized Users, account owners, and your officers, directors, beneficial owners, controlling shareholders and others.
1.7 Minimum Deposits and Balances
There is no minimum deposit required to open an Account and no minimum balance you need to maintain in your Account.
1.8 Interest Disclosures
This Account is not interest-bearing. No interest will be paid on this Account.
1.9 Authority
You agree that we may honor and rely upon the instructions or the execution, delivery and/or negotiation of any check, substitute check, draft, withdrawal order, instruction or similar instrument (collectively, “items”) or document by any of your authorized agents regardless of the necessity or reasonableness of such action, the circumstances of any transactions affected by such action, the amount of the transaction, the source or disposition of any proceeds and regardless of whether the relevant items or documents result in payment to the authorized agent or an individual obligation of the authorized agent or anyone else. “Authorized agents” include Authorized Users and any person who has signed a signature card, who is authorized by this Agreement, any resolution or otherwise to access or use the Account. It also includes any person who has been permitted by you or another authorized agent to act on your behalf in dealing with us.
You agree that you may not deny the authenticity, validity, binding effect and authorization of any action we take in reliance upon the instructions, items or documents provided by an authorized agent unless you have previously revoked such person’s authority to access or use your Account by notifying us via the online support tools onour website or app. Make sure to submit your request by the section “Contact us”. and we have confirmed our acceptance of your notice.
1.10 Power of Attorney and Attorneys-In-Fact
We may allow you to give another person (known as an “attorney-in-fact”) power of attorney to act on your behalf for your Account. You must obtain written approval from us before we will honor any power of attorney. Email us at support@weareuncapped.com for approval if you plan to create a power of attorney. Please be aware that it may take up to two (2) weeks for us to review your request. If approved, we will honor orders and instructions from your attorney-in-fact until (1) we receive a written revocation from you; (2) we are notified that you or your attorney-in-fact have died or become incapacitated; or (3) we terminate our acceptance of the power of attorney. We may terminate our acceptance at any time, for any reason and without notice to you, and you agree not to hold us liable for any damages that may result from such action. You also agree to hold us harmless for any actions we take based on the instructions of your attorney-in-fact, including if it is later determined that your power of attorney was invalid or improperly executed.
1.11 Death or Incapacitation
You agree that if we receive notification or if we have reason to believe that you or any Authorized User has died or become legally incapacitated, we may place a hold on your Account and refuse all transactions until we know and have verified the identify of your heir, devisee or successor. Until we receive notice and any required proof of death or incapacitation, we may continue to accept deposits and process transactions to your Account. Your estate will be responsible for repaying us for any tax liability resulting from payment of your account balance to your estate. You agree to hold us harmless for any actions we take based on our belief that you have died or become incapacitated. If certain payments originating from government entities are deposited into your Account after your death, we may be required to return those payments to the originator upon notice.
1.12 Our Relationship With You
good faith and to the exercise of ordinary care in our dealings with you as defined by the Uniform Commercial Code as adopted by the Commonwealth of Virginia. This Agreement and the Account relationship do not create a fiduciary relationship or any other special relationship between you and us.
1.13 Third-Party Service Providers
We work with one or more third-party service providers, including Unit Finance Inc. (“Unit”), in connection with your Account. Unit may assist us in processing transactions, handing account operations, and providing technological connection to the Program Partner and the Bank. By using your Account, you license and authorize us to access information maintained by Unit and/or other third parties, on your behalf as your agent, and you expressly authorize such third parties to disclose your information to us. In particular, you agree that Unit may perform any functions on your Account that we are otherwise authorized to perform and that Unit’s access and use of your information will be governed by the terms of Unit’s Privacy Policy, available at https://www.unit.co/clients-privacy-policy.
1.14 Confidentiality and Our Privacy Policy
Your privacy is very important to us. Under this Agreement, we will only disclose information about your Account or the transactions you make in accordance with our Privacy Policy, available at https://www.mybrb.com/privacy-policy.html. Unit may also disclose information concerning your Account and transactions that it obtains as a third-party service provider in accordance with its Unit’s Privacy Policy, available at https://www.unit.co/clients-privacy-policy. By opening an Account, you agree to both our and Unit’s privacy policies. In addition, we disclose your information to Unit in order to facilitate the Account and for other ancillary purposes. You agree to Unit’s use of your information in accordance with the terms of Unit’s Privacy Policy, available at https://www.unit.co/clients-privacy-policy.
1.15 Cell Phone Communications
By providing us with your cellular phone or other wireless device number, you are expressly consenting to receiving non-marketing communications at that number—including but not limited to prerecorded or artificial voice message, calls and text messages, and calls made by an auto-dialer—from us and our affiliates and agents. This consent applies to all telephone numbers you provide to us now or in the future. Your telephone or mobile service provider may charge you for these calls or messages. You also agree that we may record or monitor any communications for quality control and training purposes.
1.16 Our Business Days
Our business days are Monday through Friday, excluding United States federal holidays.
2 Your Account Responsibilities
We strive to keep your Account secure and provide you with tools and services to help you manage your Account. However, there are certain things you should do to protect your Account and your funds.
2.1 Notify Us If Your Information Changes
You must notify us immediately if there is a change to your business or trade name, the names of any individual or Authorized User with access to your Account, telephone number, mailing address, email address or any other information you have provided us so that we can continue to provide you with statements and important notices concerning your Account.
2.2 Keep Track of Your Transactions and Available Balance
It is important that you keep track of your transactions and the funds in your Account that are available for you to use (“Available Balance”) by reviewing your transaction history. It is also important to understand that your Available Balance may not reflect transactions you have authorized that have not yet been presented to us for payment.
You are also responsible for reviewing your Account statements as they are made available to you for errors or unauthorized activity. If you identify an error or unauthorized activity, you must notify us promptly to avoid losing your money. Please refer to Sections 3.10, 4.5, 4.6, and 6.10 for information concerning errors and unauthorized activity.
2.3 Protect Your Account Information
It is important that you protect your Account information to prevent unauthorized transactions and fraud. Keep your Account number, debit card, and statements secure at all times, and be careful about who you share this information with. If the Program Partner provides you with access to Online Banking Services, make sure to also keep your computer or mobile device secure at all times and avoid accessing the Online Banking Services when others can see your screen.
If your Account number, debit card, mobile device or Online Banking Services login credentials are lost or stolen, notify us immediately to keep your losses to a minimum. Please refer to Section 4.5 for information and applicable deadlines for notifying us of losses or theft.
3 General Rules Governing Your Account
You understand that any payment instruction or activity performed using any Online Banking Services provided to you by the Program Partner shall be deemed authorized by you and valid and we are under no obligation to investigate the instruction or activity.
3.1 Deposits Into Your Account
You may make deposits into your Account using any of these methods described below. We do not charge you any fees for making deposits.
*Der Name des Empfängers einer direkten Einzahlung oder einer ACH-Überweisung muss mit dem Namen auf dem Konto übereinstimmen, andernfalls kann die Einzahlung an den Absender zurückgegeben werden.
** Sie können Gelder zwischen Ihrem Konto und einem anderen Bankkonto überweisen. Das verbundene Bankkonto muss sich in den Vereinigten Staaten befinden.
Wir akzeptieren keine Einzahlungen per Post, Papierschecks oder Fremdwährungseinzahlungen: Wir haften nicht für Einzahlungen jeglicher Art, die Sie uns per Post zukommen lassen, auch nicht, wenn sie auf dem Transportweg verloren gehen, auf dem Postweg verloren gehen oder anderweitig nicht bei uns eingehen.
Wir senden alle Artikel an die Adresse zurück, die wir für Sie haben, und wir sind nicht haftbar, wenn Sie die Artikel nicht erhalten.
Sie können nur Gelder bei uns einzahlen, die sofort verfügbar sind, die nach geltendem Recht unwiderruflich sind und die keinem Pfandrecht, keiner Forderung oder Belastung unterliegen.
Weitere Informationen über Einlagen und darüber, wann Ihnen Gelder aus einer Einlage zur Verfügung gestellt werden, finden Sie in Abschnitt 3.2.
3.2 Unsere Verfügungspolitik
Es ist unsere Politik, Einlagen auf Ihrem Konto an jedem Geschäftstag gemäß der nachstehenden Tabelle zur Abhebung bereitzustellen. Das Ende des Geschäftstages wird als "Annahmeschluss für Einzahlungen" bezeichnet. Wenn Sie an einem Geschäftstag, an dem wir geöffnet sind, eine Einzahlung vor unserer Annahmeschlusszeit vornehmen, betrachten wir diesen Tag als den Tag Ihrer Einzahlung. Wenn Sie jedoch eine Einzahlung nach unserer Annahmeschlusszeit oder an einem Tag, an dem wir nicht geöffnet haben, vornehmen, betrachten wir die Einzahlung als am nächsten Geschäftstag, an dem wir geöffnet sind, vorgenommen.
Die Verfügbarkeit von Geldern, die von einem angeschlossenen Bankkonto eines anderen Finanzinstituts auf Ihr Konto überwiesen werden, unterliegt anderen Regeln. Weitere Informationen hierzu finden Sie in Abschnitt 3.7. Darüber hinaus gelten für die Verfügbarkeit von Geldern, die Ihrem Konto aufgrund von Transaktionen gutgeschrieben werden, die über den ACH Origination Service initiiert wurden, ebenfalls andere Regeln. Weitere Informationen hierzu finden Sie in Abschnitt 5.
3.3 ACH-Gutschriftstransaktionen und UCC Artikel 4A
Die von uns in Bezug auf eine ACH-Gutschrift erteilte Gutschrift ist vorläufig, bis wir die endgültige Abrechnung für eine solche Buchung durch eine Federal Reserve Bank erhalten. Für den Fall, dass wir keine endgültige Abrechnung erhalten, erkennen Sie an und erklären sich damit einverstanden, dass wir Anspruch auf Rückerstattung des Ihnen im Zusammenhang mit der ACH-Gutschrift gutgeschriebenen Betrags haben, und dass die Partei, die die Zahlung an Sie über eine solche Buchung vornimmt, nicht so behandelt wird, als hätte sie den Betrag dieser Buchung an Sie gezahlt.
Gemäß den Betriebsregeln der National Automated Clearing House Association, die für ACH-Transaktionen mit Ihrem Konto gelten, sind wir nicht verpflichtet, Sie am nächsten Tag über den Eingang einer ACH-Position zu benachrichtigen und werden dies auch nicht tun. Wir werden Sie jedoch weiterhin durch Ihre Kontoauszüge über den Eingang von ACH-Positionen informieren.
Wir sind berechtigt, in Ihrem Namen Zahlungen auf Ihr Konto anzunehmen, die über eine oder mehrere automatische Verrechnungsstellen (Automated Clearing Houses) übermittelt wurden und nicht dem Electronic Fund Transfer Act unterliegen, und Ihre Rechte und Pflichten in Bezug auf solche Zahlungen unterliegen den Gesetzen des Commonwealth of Virginia, es sei denn, in einer separaten Vereinbarung wird festgelegt, dass das Recht eines anderen Staates gilt.
3.4 Probleme, die bei Einzahlungen auftreten können
Wenn eine Einzahlung oder Überweisung auf Ihr Konto aus irgendeinem Grund vom zahlenden Finanzinstitut zurückgegeben oder abgelehnt wird, oder wenn ein Fehler oder Irrtum bei einer Einzahlung oder Überweisung vorliegt, können wir den Betrag der Einzahlung, Überweisung oder des Fehlers ohne vorherige Benachrichtigung an Sie abziehen. Wenn Ihr Konto zu diesem Zeitpunkt nicht ausreichend gedeckt ist, kann Ihr Konto überzogen werden. Weitere Informationen hierzu finden Sie in Abschnitt 3.12 über Überziehungen.
3.5 Überweisungen auf oder von zwei Konten, die Sie bei uns haben
Sie können Geldbeträge von einem auf Ihren Namen lautenden Konto auf ein anderes auf Ihren Namen lautendes Konto bei uns, das vom Programmpartner verwaltet wird, überweisen (eine "interne Überweisung"). Es gibt keine Begrenzung für die Anzahl der internen Überweisungen, die Sie vornehmen können, und interne Überweisungen sind sofort verfügbar.
3.6 Abhebungen von Ihrem Konto
Sie können Geldbeträge bis zur Höhe Ihres verfügbaren Guthabens auf Ihrem Konto mit einer der folgenden Methoden und innerhalb der folgenden Grenzen abheben:
* Sie können Geldbeträge zwischen Ihrem Konto und einem anderen Bankkonto überweisen. Das verbundene Bankkonto muss sich in den Vereinigten Staaten befinden.
Wenn Sie eine Debitkarte für Ihr Konto erhalten haben, können auch Einschränkungen für die Nutzung der Karte gelten. Informationen über etwaige Beschränkungen und andere Bedingungen finden Sie in der entsprechenden Karteninhabervereinbarung, die Sie zusammen mit Ihrer Karte erhalten haben.
Sie können keine Gelder per Scheck abheben, und wir erlauben Ihnen nicht, Schecks auszustellen, die auf Ihr Konto gezogen werden.
Bevor wir eine Abhebung oder eine andere Transaktion genehmigen, können wir Sie auffordern, uns zusätzliche Informationen oder Unterlagen zur Verfügung zu stellen, die wir zur Bestätigung Ihrer Identität oder zur Verhinderung illegaler Aktivitäten für erforderlich halten. Wir können die Transaktion ablehnen, wenn Sie unserer Aufforderung nicht nachkommen.
3.7 Überweisungen zu oder von verbundenen Bankkonten
Sie haben die Möglichkeit, ein anderes Bankkonto, das Sie bei einem anderen Finanzinstitut haben ("verbundenes Bankkonto"), mit Ihrem Konto bei uns zu verbinden, um eingehende und ausgehende ACH-Überweisungen zwischen dem verbundenen Bankkonto und Ihrem Konto über die Online-Banking-Dienste vorzunehmen. Bei einer "eingehenden Überweisung" werden Gelder von einem angeschlossenen Bankkonto auf Ihr Konto überwiesen. Bei einer "ausgehenden Überweisung" werden Gelder von Ihrem Konto auf ein angeschlossenes Bankkonto überwiesen. Wir erleichtern Überweisungen an ein angeschlossenes Bankkonto unabhängig von dem Zugang, den wir Ihnen zum ACH Origination Service (siehe Abschnitt 5 unten) gewähren.
Bei eingehenden Überweisungen belasten wir Ihr verbundenes Bankkonto und schreiben Ihr Konto bei uns am nächsten Werktag, nachdem Sie die Überweisung veranlasst haben, gut. Der Betrag, den Sie auf Ihr Konto überweisen, wird Ihnen spätestens am fünften (5.) Werktag nach der Gutschrift auf Ihrem Konto zur Verfügung gestellt.
Bei ausgehenden Überweisungen belasten wir Ihr Konto bei uns und schreiben den Betrag Ihrem verknüpften Bankkonto am nächsten Werktag gut, nachdem Sie die Überweisung veranlasst haben. Das Finanzinstitut, bei dem Ihr verbundenes Bankkonto geführt wird, bestimmt, wann Ihnen diese Gelder auf Ihrem verbundenen Bankkonto zur Verfügung gestellt werden.
Die Annahmeschlusszeit sowohl für eingehende als auch für ausgehende Überweisungen ist 3:00 PM ET. Überweisungsanträge, die Sie an einem Werktag vor der Annahmeschlusszeit stellen, werden als an diesem Tag eingeleitet betrachtet. Überweisungsanträge, die Sie nach der Annahmeschlusszeit oder an einem Tag, der kein Geschäftstag ist, stellen, gelten als an dem darauf folgenden Geschäftstag, an dem wir geöffnet sind, veranlasst.
Für eingehende und ausgehende Überweisungen gibt es bestimmte Höchstbeträge. Bitte beachten Sie die Abschnitte 3.1 und 3.6.
Sie stimmen zu, dass Sie nur versuchen werden, ein Bankkonto zu verknüpfen, für das Sie die Berechtigung haben, Gelder zu überweisen. Sie verpflichten sich außerdem, uns von allen Ansprüchen von Unternehmen oder Personen freizustellen, die mit dem verknüpften Bankkonto in Verbindung stehen, einschließlich aller anderen Eigentümer des verknüpften Bankkontos. Sie dürfen nur ein Bankkonto anschließen, bei dem es sich um ein Einlagekonto handelt, wie z. B. ein Giro-, Spar- oder Geldmarktkonto.
3.8 Keine illegalen Aktivitäten, Internet-Glücksspiele und Recht auf Ablehnung von Transaktionen
Sie dürfen Ihr Konto nicht für illegale Zwecke oder, unabhängig davon, ob es sich um legale oder illegale Internet-Glücksspiele handelt, nutzen. Wir sind berechtigt, Transaktionen oder Einzahlungen abzulehnen, von denen wir glauben, dass sie mit illegalen Aktivitäten, Online-Glücksspielen oder aus anderen Gründen in Verbindung stehen.
3.9 Wie wir Transaktionen auf Ihr Konto buchen und Ihren verfügbaren Saldo bestimmen
3.9.1 Buchungsübersicht
Um zu verstehen, wie wir Transaktionen auf Ihr Konto buchen, ist es wichtig, zunächst den Unterschied zwischen Ihrem verfügbaren Saldo und Ihrem Kontostand zu verstehen. Ihr verfügbarer Saldo ist der Geldbetrag, den Sie zu einem bestimmten Zeitpunkt auf Ihrem Konto haben und über den Sie verfügen können. Ihr Hauptbuchsaldo ist der Saldo auf Ihrem Konto zu Beginn des Tages, nachdem wir alle Transaktionen des Vortages auf Ihrem Konto verbucht haben. Wir verwenden Ihren verfügbaren Saldo, um Ihre Transaktionen im Laufe des Tages zu genehmigen und um festzustellen, ob Sie über ausreichende Mittel verfügen, um Ihre Transaktionen zu bezahlen. Im Folgenden finden Sie einige weitere Begriffe, die für das Verständnis hilfreich sind:
3.9.2 Posting Order
We receive transactions throughout the day and post them to your Account as they are received and in the order that they are received. Note that for debit card transactions, we consider the transaction received when the merchant requests settlement, which may occur several days after you authorize the transaction. See Section 3.9.4 for additional information concerning how debit card transactions are processed.
We may change the order in which we post transactions to your Account at our discretion and without notice to you. It is therefore important for you to keep track of the deposits you make and the transactions you authorize to make sure there are sufficient funds in your Account to cover all transactions and any applicable fees.
3.9.3 Determining Your Available Balance
To determine your Available Balance, we start with your ledger balance at the beginning of the business day, add any pending credits or deposits that we make available to you, and subtract any card authorizations and pending debits. All transactions are debited or credited from your Available Balance in the order received.You can check your Available Balance via the Online Banking Services. Keep in mind that your Available Balance may not reflect every transaction you have initiated or previously authorized. For example, your Available Balance may not include transactions you have authorized that we have not received.
3.9.4 Debit Card Authorizations
If you are issued a debit card with your Account, you will be able to use your card to pay for goods or services or conduct other transactions with a merchant. When you engage in a transaction with a merchant using your debit card, the merchant will request preauthorization (“card authorization”) for the transaction. If there are sufficient available funds in your Account, we will approve the request and reduce your Available Balance for as long as the card authorization remains on your Account.
Your Available Balance will generally be reduced by the amount of the card authorization. If you use your card at a restaurant, your Available Balance may be reduced by the amount of the card authorization plus up to an additional twenty percent (20%) of that amount, to account for potential tipping.
The card authorization will remain on your Account until the merchant sends us the final amount of the transaction and requests payment (“settlement”). In most cases, If the merchant does not request settlement, or the merchant is delayed in requesting settlement, the card authorization will automatically be removed after three (3) days. However, for certain merchants such as hotels and rental car companies, it may take up to thirty (30) days for the card authorization to be removed.
It is important to understand that the merchant controls the timing of card authorizations or settlement. A merchant may request settlement after the card authorization has been removed from your Account. This means that if you use the funds in your Account after the card authorization has been removed and the merchant later requests settlement, your Account may become overdrawn. A merchant may also request settlement for an amount that is different than the card authorization. Therefore, it is important that you keep track of your transactions and your balance. Once we have approved a card authorization, we cannot stop the transaction and you will be responsible for repaying any negative balance that may occur.
3.10 Statements
Statements will be provided to you upon request via the Online Banking Services. You may also use the Online Banking Services to check your Account balance and transaction history at any time. We do not provide paper statements.
3.11 Errors On Your Account and Limitations of Liability
You agree to carefully review your statements and promptly report to us any errors or unauthorized activity using the online support tools on our website. Make sure to submit your request via our online support tools within thirty (30) days after we make the statement available to you. Unless otherwise specified in this Agreement or required by law, if you do not provide us with timely notice of an error or unauthorized activity, we will deem our records concerning your Account to be correct and you agree that we will not be liable to you for any loss you suffer relating to the error or unauthorized activity. You further agree that we may debit or credit your Account at any time and without notice to you to correct an error or address unauthorized activity.
In any case, our maximum liability to you will never exceed the amount of actual damages proven by you. Our liability may also be further reduced by the amount of the loss that is caused by your own negligence or lack of care, as well as any recovery of the loss you obtain from third parties. Please refer to Section 4 for additional information concerning errors and unauthorized transactions involving electronic fund transfers and related limitations of liability. There may also be other limitations of liability contained in this Agreement.
3.12 Overdrafts, Nonsufficient Funds and Negative Balances
We do not permit you to overdraw your Account. If the Available Balance in your Account is not sufficient to cover any transaction you have authorized, we may return the transaction or refuse to process the transaction. However, there may be instances where your Account can still go into the negative, such as if a deposit you make is returned. You must make a deposit immediately to cover any negative balance. If your Account has a negative balance for sixty (60) calendar days or more, we may close your Account.
3.13 Closing Your Account and Account Suspensions
You can close your Account at any time and for any reason by contacting us directly using our website. Make sure to submit your request on our online support tools. We reserve the right to refuse your request if you have a negative balance on your Account. We recommend that you transfer or withdraw any funds you may have in the Account prior to submitting a request to close the Account to avoid delays in receiving your funds.
We may also suspend or close your account, or suspend or disable any service or feature of your Account, at our discretion with or without notice. This includes if we believe you are using your Account for fraudulent or illegal purposes or in violation of law or regulation, this Agreement, any other agreement you may have with us or Unit, if multiple transactions are returned on your Account, or if you otherwise present undue risk to us or Unit. We may also close your Account if you have not made any deposits or withdrawals from your Account in over twelve (12) months. In addition, cancelling your enrollment in the Online Banking Services with the Program Partner will result in our closure of the Account and our return of your funds. We are not responsible to you for any damages you may suffer as a result of the closure or suspension of your Account.
If your Account is closed with a balance greater than $1.00, we will return any funds you may have in the Account to you by ACH transfer to another bank account or by paper check. We reserve the right not to return the funds to you if the balance in your Account is $1.00 or less. The closure of your Account or termination of this Agreement does not impact any right or obligation that arose prior to closure or termination, or any right or obligation that, by its nature, should survive termination (including, but not limited to, any indemnification obligation by you, our limitations of liability, and any terms governing arbitration).
3.14 Dormancy, Inactivity and Unclaimed Property
State law and our policy govern when your Account is considered dormant. Your Account is usually considered dormant if you have not accessed your Account, communicated to us about your Account or otherwise shown an interest in your Account within the period of time specified under applicable law. Each state has varying laws as to when an account becomes dormant, and we may be required to send the balance in your Account if it becomes dormant to the state of your last known address. We will make reasonable efforts to contact you if required by applicable law before transferring the remaining balance of your Account to the applicable state. After we surrender the funds to the state, you must apply to the appropriate state agency to reclaim your funds. You can avoid the surrender of your funds by simply conducting transactions, contacting us about your Account or replying to any abandoned property notices we may provide to you.
We may also place your Account in an inactive status if you have not had any transaction for at least six (6) months. If your Account becomes inactive, you may not receive statements or be able to conduct certain transactions. Inactive Accounts must be reactivated. Contact us on our online support tools to reactivate your Account.
3.15 Account Fees and Fee Schedule
You agree to pay all fees and charges applicable to your Account. All fee amounts will be withdrawn from your Account and will be assessed regardless of whether you have sufficient funds in your Account, except where prohibited by law. Fees are subject to change at any time. We will provide you advance notice of any changes where required by law.
4 Elektronische Überweisungen
Auf Ihrem Konto können Sie durch elektronische Überweisungen ("EFTs") Gelder bis zum verfügbaren Saldo abheben oder Einzahlungen vornehmen. EFTs sind Transaktionen, die auf elektronischem Wege abgewickelt werden und umfassen u.a. ACH-Überweisungen, Debitkartentransaktionen und direkte Einzahlungen. In diesem Abschnitt finden Sie Informationen und wichtige Angaben und Bedingungen zu den EFTs, die auf Ihrem Konto zulässig sind. Sie können über die vom Programmpartner bereitgestellten Online-Banking-Dienste auch zusätzliche Dienstleistungen erhalten, die es Ihnen ermöglichen, EFTs auf und von Ihrem Konto zu veranlassen, die nicht in dieser Vereinbarung beschrieben sind. Für diese Dienstleistungen erhalten Sie vom Programmpartner gesonderte Vereinbarungen und Offenlegungen.
4.1 Arten von EFTs, die von Ihrem Konto unterstützt werden
Ihr Konto erlaubt die folgenden Arten von EFTs:
4.2 Beschränkungen für EFTs
Es gibt Beschränkungen für die Häufigkeit und den Betrag der Transaktionen, die Sie auf oder von Ihrem Konto vornehmen können. Diese Grenzen sind für jede Art von Transaktion unterschiedlich. Zu den Beschränkungen, die für Transaktionen gelten, bei denen Gelder auf Ihrem Konto gutgeschrieben oder eingezahlt werden, lesen Sie bitte den Abschnitt 3.1 über Einzahlungen. Für Limits, die für Transaktionen gelten, die Ihr Konto belasten oder abheben, lesen Sie bitte Abschnitt 3.6 über Abhebungen. Für Limits, die für Überweisungen auf oder von Ihrem Konto von einem angeschlossenen Bankkonto gelten, lesen Sie bitte Abschnitt 3.7. Diese sicherheitsrelevanten Grenzen können sich von Zeit zu Zeit ändern.
Wenn Sie eine Debitkarte für Ihr Konto erhalten haben, können auch Transaktionsbeschränkungen für die Nutzung der Karte gelten. Informationen über etwaige Beschränkungen und andere Bedingungen finden Sie in der jeweiligen Karteninhabervereinbarung, die Sie zusammen mit Ihrer Karte erhalten haben.
4.3 Dokumentation Ihrer Transaktionen
Wir informieren Sie auf Ihren Kontoauszügen über jede Transaktion, die Ihrem Konto belastet oder gutgeschrieben wird. Informationen zu Kontoauszügen finden Sie in Abschnitt 3.10. Sie können Ihre Transaktionshistorie und andere Informationen auch über die Online Banking Services einsehen, die Ihnen vom Programmpartner zur Verfügung gestellt werden.
Wenn Sie mit einer Debitkarte ausgestattet sind, können Sie bei Abhebungen an einem Geldautomaten oder bei Einkäufen an einem Kassenterminal unter Verwendung Ihrer Karte Quittungen erhalten.
4.4 Vorautorisierte Überweisungen, Zahlungsstopps und Mitteilungen über abweichende Beträge
Wenn Sie uns oder ein anderes Unternehmen oder eine andere Person ermächtigen, regelmäßig Geld von Ihrem Konto abzuheben (z. B. wenn Sie sich für "Autopay" anmelden, um eine wiederkehrende Rechnung zu bezahlen), wird dies als vorautorisierte Überweisung bezeichnet. Sie können beantragen, dass wir einen Zahlungsstopp für vorautorisierte Überweisungen verhängen, und Sie können eine Benachrichtigung erhalten, wenn sich der Betrag einer bestimmten Abhebung von dem Betrag der letzten Abhebung unterscheidet.
4.4.1 Beantragung eines Zahlungsstopps
Wenn Sie einen Dritten ermächtigen, regelmäßig Zahlungen von Ihrem Konto durch eine vorautorisierte Überweisung zu tätigen, können Sie einen Zahlungsstopp für diese Zahlungen veranlassen, indem Sie uns über unsere Online-Support-Tools, die über weareuncapped.com zugänglich sind, mindestens drei (3) Werktage vor der nächsten geplanten Zahlung kontaktieren.
Sie müssen uns (1) Ihren Namen, (2) Ihre Kontonummer, (3) das Unternehmen oder die Person, die die Zahlungen vornimmt, und (4) das Datum und den Betrag der geplanten Zahlung, die Sie einstellen möchten, mitteilen. Wenn Sie möchten, dass alle zukünftigen Zahlungen von dieser Firma oder Person gestoppt werden, müssen Sie uns dies ebenfalls mitteilen. Wenn Sie uns nicht die richtigen Angaben machen, z. B. den richtigen Zahlungsempfänger oder den richtigen Betrag der Zahlung, die Sie stoppen möchten, können wir die Zahlung möglicherweise nicht stoppen.
4.5 Fragen zu Ihren EFTs und Meldung von Fehlern oder nicht autorisierten EFTs
Sie können sich mit Fragen zu EFTs, die auf Ihrem Konto eingehen, an uns wenden. Für kartenbezogene Transaktionen und für alle anderen Transaktionen kontaktieren Sie uns über unsere Online-Support-Tools.
Sie können uns auch über die oben genannten Methoden kontaktieren, um vermutete Fehler oder nicht autorisierte EFTs zu melden. Wenden Sie sich unverzüglich an uns, wenn Sie glauben, dass ein Fehler oder eine nicht autorisierte EFT in Bezug auf Ihr Konto aufgetreten ist oder auftreten könnte, oder wenn Ihr Konto, Ihre Debitkarte oder Ihre Online-Banking-Zugangsdaten verloren gegangen sind, gestohlen wurden oder gefährdet sind. Sie müssen uns spätestens dreißig (30) Tage nach dem Versand des ERSTEN Kontoauszugs, auf dem der Fehler oder die nicht autorisierte EFT erscheint, kontaktieren. Sie müssen uns die folgenden Informationen zur Verfügung stellen:
Nachdem wir Ihre Mitteilung über einen Fehler oder eine nicht autorisierte EFT erhalten haben, werden wir die Angelegenheit untersuchen und Ihnen die Ergebnisse und etwaige Korrekturen, die wir auf Ihrem Konto vornehmen, innerhalb eines wirtschaftlich angemessenen Zeitraums mitteilen.
4.6 Unsere Haftung für eine nicht abgeschlossene Transaktion, nicht autorisierte Transaktionen oder das Versäumnis, eine Zahlung zu stoppen
Wir werden auf Mitteilungen über Fehler oder nicht autorisierte EFTs und auf Anfragen, Zahlungen zu stoppen, in einer wirtschaftlich angemessenen Art und Weise und Zeit reagieren. Sie erklären sich damit einverstanden, dass wir in keinem Fall in einer Höhe haften, die den niedrigeren Betrag von fünftausend Dollar ($5.000) oder den tatsächlichen Betrag Ihres Verlustes übersteigt. Sie erklären sich außerdem damit einverstanden, dass wir nicht für Verluste haften, die Sie erleiden, wenn Sie:
Darüber hinaus haften wir nicht für Verluste, die Ihnen unter den folgenden Umständen entstehen können:
5 ACH Origination Service
5.1 Beschreibung des ACH Origination Service
Der ACH Origination Service ermöglicht es Ihnen, uns zu beauftragen, in Ihrem Namen eine NACHA-formatierte Datei zu erstellen und/oder zu senden, um die Überweisung von Geldern an/von einem anderen Finanzinstitut auszuführen, um Gelder auszuzahlen/zu konzentrieren oder um Zahlungen an/von einer anderen Partei über das System zu tätigen/einzuziehen. Alle Transaktionen, die über den oben beschriebenen ACH Origination Service ausgeführt werden, werden als "ACH-Transaktionen" bezeichnet. Der ACH Origination Service ist nur über die Online Banking Services zugänglich. Die Nutzung des ACH-Anbahnungsservice und der Zugang zu diesem Service ist unabhängig von der Möglichkeit, Überweisungen per ACH auf ein angeschlossenes Bankkonto zu tätigen (siehe Abschnitt 3.7).
Wir werden nur Internet-Initiated/Mobile Entry ("WEB") und Corporate Credit or Debit Entry ("CCD") ACH-Transaktionen über den ACH Origination Service ermöglichen. Wir entscheiden nach eigenem Ermessen, ob wir eine bestimmte ACH-Transaktion als WEB-Transaktion oder als CCD-Transaktion abwickeln.
Sofern in dieser Vereinbarung nicht anders definiert, haben die in diesem Abschnitt 5 in Großbuchstaben geschriebenen Begriffe die Bedeutung, die in den Betriebsregeln (die "Regeln") der National Automated Clearing House Association ("NACHA") festgelegt ist.
5.2 Verarbeitungsfristen
Vorbehaltlich der Sicherheitsverfahren in Abschnitt 5.4 sind wir verpflichtet, (i) die von Ihnen erhaltenen Eingaben so zu verarbeiten, dass sie den in den Regeln festgelegten Dateispezifikationen entsprechen, (ii) diese Eingaben als Originating Depository Financial Institution an die Federal Reserve Bank zu übermitteln und (iii) diese Eingaben auf die in den Regeln festgelegten Konten abzurechnen.
Wir übermitteln diese Eingaben an die Federal Reserve Bank innerhalb der ACH-Frist einen (1) Geschäftstag vor dem in diesen Eingaben angegebenen effektiven Eingabetag, vorausgesetzt (i) diese Eingaben gehen um 15:00 Uhr ET an einem Geschäftstag ein, (ii) der effektive Eingabetag liegt mindestens zwei (2) Tage nach diesem Geschäftstag und (iii) die Federal Reserve Bank ist an diesem Geschäftstag für den Geschäftsverkehr geöffnet. Ein "Geschäftstag" ist ein Tag, an dem die Federal Reserve Bank für die Öffentlichkeit geöffnet ist, um im Wesentlichen alle ihre Geschäfte abzuwickeln, mit Ausnahme eines Samstags, Sonntags oder gesetzlichen Feiertags.
Wenn eine der oben aufgeführten Anforderungen von Klausel (i), (ii) oder (iii) nicht erfüllt ist, werden wir uns in angemessener Weise bemühen, diese Einträge bis zum nächsten Einreichungstermin, an dem die Federal Reserve Bank für den Geschäftsverkehr geöffnet ist, an die Federal Reserve Bank zu übermitteln.
5.3 ACH-Regeln
Wenn Sie eine Transaktion über den ACH-Originierungsdienst durchführen, verpflichten Sie sich, die Regeln einzuhalten. Sie können ein Exemplar der Regeln von NACHA unter 13450 Sunrise Valley Drive, Suite 100 Herndon, VA 20171 erhalten; Anweisungen zum Erhalt eines Exemplars der Regeln sind auch unter www.nacha.org verfügbar. Sie erklären sich damit einverstanden, die Regeln einzuhalten und an sie gebunden zu sein. Falls Sie gegen eine der geltenden Regeln verstoßen und NACHA uns wegen Ihres Verstoßes eine Geldstrafe auferlegt, können wir Ihnen die Geldstrafe in Rechnung stellen. Wir verpflichten uns, Sie über Änderungen der Regeln, von denen wir Kenntnis haben, zu informieren. Unser derzeitiges Verfahren unterstützt nicht die Veranlassung von IATs (International ACH Transactions).
5.4 Sicherheitsverfahren
Unsere Sicherheitsverfahren oder Sicherheitsanforderungen sind in die Online-Banking-Dienste integriert, und Sie erkennen an und erklären sich damit einverstanden, dass diese Sicherheitsverfahren eine wirtschaftlich angemessene Methode zur Gewährleistung der Sicherheit gegen nicht autorisierte Zahlungsaufträge sind. Sie erklären sich damit einverstanden, ACH-Anträge ausschließlich über die Online-Banking-Dienste einzureichen.
5.5 Unsere Verpflichtungen bei der ACH-Erstellung
Wir werden die von Ihnen erhaltenen Eingaben, die den Bedingungen dieser Vereinbarung und/oder etwaiger Nachträge oder künftiger Nachträge entsprechen, rechtzeitig und in Übereinstimmung mit den Regeln verarbeiten, übermitteln und abrechnen.
5.6 Garantien
Sie garantieren und stimmen zu, dass:
5.7 Authorized Daily Dollar Limits
There are limitations on the frequency and amount of ACH transactions you can originate from your Account using the ACH Origination Service. For limits that apply to transactions that credit or deposit funds into your Account, please refer to Section 3.1 concerning deposits. For limits that apply to transactions that debit or withdraw from your Account, please refer to Section 3.6 concerning withdrawals. These security related limits may change from time to time.
Inherent to the implementation of any ACH Origination Service is a degree or risk assumed by us. It is possible for you to expose us to significant financial liability if you do not have sufficient funds on deposit in the Account to settle ACH transactions or returns. We reserve the right to periodically request and review your financial information and revoke your access to ACH Origination Service if we believe, in our sole discretion, that you cannot financially support your liability for ACH transactions originated from the Account.
The following types of ACH transactions may be originated using the Account and the Online Banking Services: CCD and WEB.
5.8 Provisional Credit
You acknowledge that the Rules make provisional any credit given for an entry until the financial institution crediting the account specified in the entry receives final settlement. If the financial institution does not receive final settlement, it is entitled to a refund from the credited party and the originator of the entry shall not be deemed to have paid the party.
5.9 Settlement
You will maintain the Account during the term of this Agreement. You will maintain in the Account as of the applicable settlement date immediately available funds sufficient to cover all credit and debit entries initiated by you. You authorize us to debit the Account on the applicable settlement date in the amount of each entry. In the event there are not sufficient available funds in the Account to cover your obligations under this Agreement, you agree that we may debit any account maintained by you with us or that we may set off against any amount we owe to you, in order to obtain payment of your obligations under this Agreement.
5.10 Cancellation or Amendment
You shall have no right to cancel or amend any entry/file after its receipt by us. However, we shall use reasonable efforts to act on a request, in writing, by an Authorized User to cancel an entry/file before transmitting it to the Federal Reserve Bank. Any such request shall comply with the security procedures described in Section 5.4 above. You may be required to submit a new transfer request in writing or electronically through the Online Banking Services. We shall have no liability if the cancellation or change is not affected.
5.11 Reversals
You may request the reversal of an entry for erroneous or duplicate transactions that have been transmitted to the Federal Reserve by contacting us through the Online Banking Services.
5.12 Rejection of Entries
We shall reject any entry, including an on-us entry, which does not comply with the requirements of this Agreement and may reject any entry if you are not otherwise in compliance with the terms of the Agreement. We shall notify you by email or via the Online Banking Services of such rejection no later than the business day such entry would otherwise have been transmitted by us to the ACH or, in the case of an on-us entry, its effective entry date.
5.13 Returned Entries
We shall notify you by email or via the Online Banking Services of the receipt of a returned entry from the Federal Reserve no later than one business day after the business day of such receipt. We shall have no obligation to re-transmit a returned entry if we complied with the terms of this Agreement with respect to the original entry.
You agree not to exceed ninety five percent (95%) of any thresholds set forth in the NACHA Rules for returns on the basis that the Transaction was unauthorized, returns for administrative reasons, or all returns regardless of the cause in any thirty (30) day period. You further agree not to exceed one-half percent (0.5%) returns on the basis that the Transaction was unauthorized in any thirty (30) day period irrespective of whether any NACHA thresholds have been exceeded. Returns on the basis that the transaction was unauthorized will be assigned a NACHA return status of R07 (“authorization revoked by customer”), R10 (“customer advises not authorized”), or R29 (“corporate customer advises not authorized”).
We reserve the right to limit, suspend, or terminate your ACH Origination Service privileges for any violation of this Section 5.13.
5.14 Notifications of Change
We shall advise you of all notifications of changes that we receive related to entries that you transmit by email or via the Online Banking Services no later than five (5) business days after receipt thereof.
5.15 Fees
You agree to pay us for ACH Origination Service provided under the Agreement in accordance with the current schedule of fees in Section 3.15 above. We may change our fees from time to time upon written notice.
5.16 Audits
We shall have the right to audit any records for compliance with the agreements and Rules relating to ACH Transactions originated by you.
5.17 ACH Origination Service Liability, Limitations on Liability & Indemnity
WE SHALL BE RESPONSIBLE ONLY FOR PERFORMING THE ACH ORIGINATION SERVICE EXPRESSLY PROVIDED FOR IN THIS AGREEMENT AND SHALL BE LIABLE ONLY FOR OUR GROSS NEGLIGENCE IN PERFORMING THIS SERVICE. WE SHALL NOT BE RESPONSIBLE FOR YOUR ACTS OR OMISSIONS (INCLUDING WITHOUT LIMITATION THE AMOUNT, ACCURACY, TIMELINESS OF TRANSMITTAL OR AUTHORIZATION OF ANY FILE RECEIVED FROM YOU) OR THOSE OF ANY OTHER PERSON. WE ARE AUTHORIZED BY YOU TO PROCESS TRANSACTIONS IN ACCORDANCE WITH THE INFORMATION THAT WE RECEIVE IN THE ISSUED FILE TRANSMISSION FROM YOU. YOU SHALL BE SOLELY RESPONSIBLE FOR THE INFORMATION CONTAINED IN THE FILE, AND WE SHALL HAVE NO RESPONSIBILITY FOR ERRONEOUS DATA PROVIDED BY YOU. YOU WILL INDEMNIFY AND HOLD US HARMLESS FROM AND AGAINST ANY LOSS, CHARGE, LIABILITY, COST, FEE OR EXPENSE (INCLUDING ATTORNEYS’ FEES AND EXPENSES) WE SUFFER OR INCUR RESULTING FROM ANY THIRD-PARTY LAWSUIT, CLAIM, ARBITRATION OR OTHER ACTION, ACTUAL OR THREATENED, ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT.
IN NO EVENT SHALL WE BE LIABLE FOR ANY CONSEQUENTIAL, SPECIAL, PUNITIVE OR INDIRECT LOSS OR DAMAGE THAT YOU MAY INCUR OR SUFFER IN CONNECTION WITH THIS AGREEMENT, INCLUDING LOSSES OR DAMAGES FROM SUBSEQUENT WRONGFUL DISHONOR RESULTING FROM OUR ACTS OR OMISSIONS PURSUANT TO THIS AGREEMENT.
WITHOUT LIMITING THE GENERALITY OF THE FOREGOING PROVISIONS, WE SHALL BE EXCUSED FROM FAILING TO ACT OR DELAY IN ACTING IF SUCH FAILURE OR DELAY IS CAUSED BY LEGAL CONSTRAINT, INTERRUPTION OF TRANSMISSION OR COMMUNICATION FACILITIES, EQUIPMENT FAILURE, WAR, NATURAL DISASTER, EMERGENCY CONDITIONS, OR OTHER CIRCUMSTANCES BEYOND OUR CONTROL. NOTWITHSTANDING THE ABOVE, WE WILL REIMBURSE YOU FOR EXPENSES INCURRED (E.G. WIRE FEES) IN THE EVENT OF OUR FAILURE OR DELAY IN TRANSFERRING FUNDS SOLELY CAUSED US.
IN ADDITION, WE SHALL BE EXCUSED FROM FAILING TO TRANSMIT OR DELAY IN TRANSMITTING AN ENTRY IF SUCH TRANSMITTAL WOULD RESULT IN OUR HAVING EXCEEDED ANY LIMITATION UPON ITS INTRA-DAY NET FUNDS POSITION ESTABLISHED PURSUANT TO PRESENT OR FUTURE FEDERAL RESERVE GUIDELINES OR IN OUR REASONABLE JUDGMENT OTHERWISE VIOLATE ANY PROVISION OF ANY PRESENT OR FUTURE RISK CONTROL PROGRAM OF THE FEDERAL RESERVE, OR ANY RULE OR REGULATION OF ANY OTHER U.S. GOVERNMENTAL REGULATORY AUTHORITY. SUBJECT TO THE FOREGOING LIMITATIONS, OUR LIABILITY FOR LOSS OF INTEREST RESULTING FROM ITS ERROR OR DELAY SHALL BE CALCULATED BY USING A RATE EQUAL TO THE AVERAGE FEDERAL FUNDS RATE SET BY THE FEDERAL RESERVE BANK FOR THE PERIOD INVOLVED. AT OUR OPTION, PAYMENT OF SUCH INTEREST MAY BE MADE BY CREDITING THE ACCOUNT RESULTING FROM OR ARISING OUT OF ANY CLAIM OF ANY PERSON WE ARE RESPONSIBLE FOR, ANY ACT OR OMISSION OF YOU OR ANY OTHER PERSON.
PERFORMANCE INTERRUPTION OF THE ACH ORIGINATION SERVICE FOR ANY REASON SHALL NOT RELIEVE YOU OF YOUR OBLIGATION TO MAKE ANY TAX DEPOSIT, AND WE WILL INCUR NO LIABILITY TO YOU FOR YOUR FAILURE TO MAKE ANY REQUIRED TAX PAYMENT BY OTHER MEANS IN THE EVENT OF SUCH INTERRUPTIONS.
5.18 Inconsistency of Name and Account Number
You acknowledge that, if an entry describes the Receiver inconsistently by name and/or account number, payment of the entry may be made based on the account number even if it identifies a person different from the named Receiver. You are solely responsible for providing correct information for all ACH Origination Service requests through the Online Banking Services.
5.19 Termination
You may cancel your ACH Origination Service at any time by providing us with written notice. Your access to the ACH Service through Online Banking Services will be suspended within three (3) business days of our receipt of instructions to cancel your ACH Origination Service from any Authorized User. We shall be entitled to rely on any written notice believed by us, in good faith, to be signed by any Authorized User. We shall have no obligation to transmit entries if you are in default of any of its obligations under this Agreement, including the obligation to pay any related fees for each credit and debit entry.
You will remain responsible for all transactions that occur prior to termination, whether termination by you or by us, and for any fees and charges incurred prior to the date of cancellation. Any unprocessed transactions including future dated and recurring transactions, will be cancelled as a result of termination of your ACH Origination Service. You agree that we can terminate or limit your access to the ACH Origination Service for any of the following reason without prior notice:
5.20 Notice Disclosure
Under the operating rules of NACHA, which are applicable to ACH transactions involving your Account, we are not required to give next day notice to you of receipt of an ACH item, and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide you.
6 Wire Transfers
The Account may permit domestic wire transfers through Online Banking Services provided to you by the Program Partner.
6.1 Types of Wire Transfers Supported by Your Account
Your Account may support domestic wire transfers. If wire services are made available to you, your Account will be able to both receive and initiate wire transfers.
We may select any means for the transmission of funds that we consider suitable. We may make use of correspondents, agents, subagents, and funds transfer and communication systems. Such third parties shall be deemed your agents, and we shall not be liable for any errors, delay, misdelivery, or failure of delivery by any of them unless applicable law says otherwise.
We will not be liable for our inability to perform our obligations under this Agreement when such inability arises out of causes beyond our control, including but not limited to, any act of God, accident, labor disputes, power failures, system failure, equipment malfunction, suspension of payment by another bank, refusal or delay by another bank to accept the wire transfer, war, emergency conditions, fire, earthquake, or the failure of any third party to provide any electronic or telecommunication service used in connection with the execution or cancellation of a wire transfer.
6.2 Limitations on Wire Transfers
There are limitations on the frequency and amount of transactions you can make to or from your Account. These limits are different for each type of transaction. For limits that apply to transactions that credit or deposit funds into your Account, please refer to Section 3.1 concerning deposits. For limits that apply to transactions that debit or withdraw from your Account, please refer to Section 3.6 concerning withdrawals. There may be limits on the beneficiaries who can receive a wire transfer you initiate from your Account. These security-related limits may change from time to time.
6.3 Cut-Off Times for Wire Transfers
We have cut-off hours for processing wire transfers. If a wire request is received by 1:00 PM ET on a Business Day and verified through our security procedures outlined in the section below titled “Security Procedures,” funds will be processed the same business day. If it is received after 1:00 PM ET or on a non-Business Day and verified through our security procedures, funds may be processed the next business day.
We may treat any wire transfer request received at or after our cut-off time as if it was received that business day, or we may treat it as if it were received at the opening of the next business day.
6.4 Security Procedures
You agree and consent to the use of certain security procedures by us to confirm the validity of the wire transfer request made pursuant to this Agreement. You understand the security procedures are not designed to detect errors in the content of the wire transfer request or to prevent duplicate transfers. Some elements of the procedures will vary, depending upon the method used to initiate a wire transfer. You hereby agree that your utilization of any security procedure established hereunder shall constitute your agreement to its use and affirmative acknowledgment of its commercial reasonableness.
You further agree that any wire transfer request that is acted upon in good faith by us in compliance with these security procedures, whether in fact authorized by you, shall constitute an authorized wire transfer.
6.5 Liability for Incorrect Wire Transfers
You are responsible for providing us with the accurate name and account number for wire transfers, and we are responsible for transmitting money to the account number you provided.
When you provide us with a name and account number for us to process a wire transfer, we may make payment solely on the basis of the account number, even if the account number identifies a person different from the beneficiary so named. We or an intermediary bank may send a wire transfer to an intermediary bank or beneficiary's/designated recipient's bank based solely on the bank identifying number, even if the payment order indicates a different name. You should be very careful when providing the account number for a wire transfer.
If you have provided us with the wrong account number, there may be no way to correct the error or retrieve the funds. You agree that you will pay the amount of a wire transfer even in such circumstances. You are responsible for any losses resulting from an incorrect account number or your misidentification of the beneficiary/designated recipient.
If you think a wire transfer is wrong or if you need more information about a wire transfer, you must contact us on our online support tools as soon as possible and no later than fourteen (14) days after you receive your monthly statement. If you do not tell us about an error, we will not have any obligation to pay interest on the amount of an unauthorized or erroneous wire transfer for which we are liable, and you will also be liable to us for any damages or losses we may incur.
6.6 Payment
You must pay us the amount of the wire transfer, plus any applicable fees, before we will execute the wire transfer request. Please see Section 3.15 of this Agreement for fees applicable to wire transfers.
6.7 Execution of Wire Transfers
A wire transfer request is considered accepted by us when we execute it. Please refer to Section 6.3 concerning cut-off times for more details. You can verify whether your wire transfer request has been executed via the Online Banking Services.
We have no responsibility to accept any incoming wire transfer(s) for your benefit. Likewise, we have a right to reject any wire transfer request(s) for an outgoing wire transfer for reasons including, but not limited to, insufficient or uncollected funds in the account specified in the wire transfer request, a request that fails any requires security procedures, our inability to execute the wire transfer for the reasons set out in the section of this agreement entitled method used to make the wire transfer above, or if we are unable to verify the authenticity of the wire transfer request. If we stop a domestic outgoing wire transfer, we will refund the fee.
If we determine, in our sole discretion, not to honor, execute, or accept a wire transfer request, we will make reasonable efforts to notify you. We will also make reasonable efforts to notify you promptly if a wire transfer is returned to us after its execution. In either case, we shall have no liability by reason of our delay or failure to provide you with notice, and we shall have no obligation to resend a wire transfer if we complied with the original wire transfer request and such wire transfer was returned to us.
6.8 Cancellation or Amendment of Wire Transfer
Once we receive a wire transfer request, it may not be able to be canceled or amended. However, at our discretion, we may use reasonable efforts to act on any request for cancellation or amendment, provided that the method by which we are notified of a request for cancellation or amendment complies with our security procedures. However, we shall have no liability if such cancellation or amendment is not affected. You agree to indemnify and hold us harmless from all liabilities, claims, damages, costs, and expenses we may incur in attempting to cancel or amend the wire transfer. any cancellation or amendment of a wire transfer by us shall relieve us of any obligation to act on the original wire transfer request.
6.9 Our Liability for Failure to Complete a Wire Transfer
We shall be responsible only for performing the wire transfer service expressly provided for in this Agreement; provided however, we shall be liable only for our own gross negligence or willful misconduct in performing such service. We shall not be liable to any third party or for any act or omission of yours or any third party, including, but not limited to, third parties used by us in executing a wire transfer or performing a related act and no such third party shall be deemed to be our agent. IN NO EVENT SHALL WE BE LIABLE FOR ANY DAMAGES OF ANY KIND INCLUDING WITHOUT LIMITATION DIRECT, INDIRECT, PUNITIVE, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOST PROFITS, LOSSES OR EXPENSES ARISING OUT OF OR IN CONNECTION WITH THE WIRE TRANSFER SERVICE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SAME. Except as otherwise provided by applicable law, the maximum period for which we shall be liable for interest on any amount to be refunded or paid to you with respect to an unauthorized, erroneous, or other wire transfer request is thirty days.
6.10 Your Liability for Unauthorized Wire Transfers
Except as otherwise provided by law, you shall be liable for any loss or damage to which your negligence contributed or which resulted in unauthorized, fraudulent, or dishonest acts by your current and/or former authorized representatives. Such liability includes instances when a current or former authorized representative effects one or more wire transfers or improper use of telephone security procedures to effect a wire transfer to your detriment.
6.11 Compliance with Anti-Money Laundering and Exchange Control Regulations and OFAC Enforced Sanctions
You agree to observe all Anti-Money Laundering and Exchange Control laws and regulations including economic and trade sanctions promulgated by the Office of Foreign Assets Control of the U.S. Department of Treasury in relation to any wire transfer, and you will use all reasonable endeavors to assist us to do likewise. You agree that the information given to us by you is accurate. We may disclose any information given to us that we in our sole discretion think necessary or desirable to disclose; except we will only disclose confidential information if required by law, a court, or legal, regulatory, or governmental authority, or as permitted by law to combat, prevent, or investigate issues arising under anti-money laundering laws, economic sanctions, or criminal law.
Sometimes legal, regulatory, or governmental authorities require additional information, either in respect of individuals, entities, or particular transactions. You agree to promptly supply all such information, which any such authority may require, and/or which we may be required to supply, in relation to the individual, entity, or particular transaction.
If you, or your authorized representative, breach any such laws or regulations, you irrevocably agree that we may retain any monies or funds transmitted to us pursuant to this Agreement and/or not fulfill any wire transfer request if we are required to take or refrain from such action by any legal, regulatory, or governmental authority or if we reasonably believe that such action may violate any laws or regulations described herein, and such monies shall not bear interest against us. You further agree that we may pay such monies to the appropriate legal, regulatory, or governmental authority, when required by law.
7 Other Legal Terms and Conditions
7.1 No Assignments
Your Account and your obligations under this Agreement are not transferable and not assignable as collateral for a loan or for any other purpose. We may transfer our rights under this Agreement.
7.2 Legal Processes and Claims Affecting Your Account
If we receive a levy, attachment, or other legal process against you (collectively, “Legal Process”), we may refuse to permit withdrawals or transfers from your Account until the Legal Process is dismissed or satisfied. Any Legal Process will be subject to our right of set-off and security interest. You are responsible for any losses, costs or expenses we incur as a result of any dispute or legal proceeding involving your Account. If we receive a claim against the funds in your Account, or if we know of or believe that there is a dispute as to the ownership or control of funds in your Account, we may, in our discretion: (1) place a hold on your Account and refuse to pay out any funds until we are satisfied that the dispute is settled; (2) close your Account and send the balance to the named account holder; (3) require a court order to act; or (4) take any other action we feel is necessary to protect us. We will not be liable to you for taking any such action.
7.3 Limitation of Liability and Disclaimer of Warranty
EXCEPT AS REQUIRED BY LAW, WE ARE NOT LIABLE FOR ANY CLAIMS, COSTS, LOSSES, OR DAMAGES RESULTING DIRECTLY OR INDIRECTLY FROM OUR FAILURE TO ACT, OR ANY DELAY BEYOND TIME LIMITS PRESCRIBED BY LAW OR PERMITTED BY THIS AGREEMENT IF SUCH FAILURE OR DELAY IS CAUSED BY MAINTENANCE OR INTERRUPTION OR MALFUNCTION OF EQUIPMENT OR COMMUNICATION FACILITIES, UNUSUAL TRANSACTION VOLUME, SUSPENSION OF PAYMENTS BY ANOTHER FINANCIAL INSTITUTION, FIRE, NATURAL DISASTERS, ELEMENTS OF NATURE, GOVERNMENT ACTION, ACTS OF WAR, TERRORISM OR CIVIL STRIFE, EMERGENCY CONDITIONS, OR OTHER CIRCUMSTANCES BEYOND THE REASONABLE CONTROL OF THE BLUE RIDGE BANK, N.A. EXCEPT AS REQUIRED BY LAW, OUR LIABILITY TO YOU FOR A CLAIM IS LIMITED TO THE FACE VALUE OF THE ITEM OR TRANSACTION, OR THE ACTUAL VALUE OF ANY FUNDS NOT PROPERLY CREDITED OR DEBITED. IN NO EVENT WILL WE OR UNIT BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, SPECIAL OR PUNITIVE DAMAGES EVEN IF YOU ADVISE US OF THE POSSIBILITY OF SUCH DAMAGES.
EXCEPT AS REQUIRED BY LAW AND NOTWITHSTANDING ANYTHING TO THE CONTRARY, WE SHALL ONLY BE RESPONSIBLE AND LIABLE FOR OUR OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT IN PERFORMING OUR OBLIGATIONS UNDER THIS AGREEMENT. WE SHALL NOT BE LIABLE TO ANY THIRD PARTY OR FOR ANY ACT OR OMISSION OF YOURS OR ANY THIRD PARTY, INCLUDING, BUT NOT LIMITED TO, THIRD PARTIES USED BY US IN EXECUTING ANY TRANSACTION CONTEMPLATED BY THIS AGREEMENT OR PERFORMING A RELATED ACT AND NO SUCH THIRD PARTY SHALL BE DEEMED TO BE OUR AGENT.
IN ADDITION, EXCEPT AS REQUIRED BY LAW, BLUE RIDGE BANK, N.A. IS NOT LIABLE OR RESPONSIBLE FOR ANY SERVICES OR FEATURES OF ANY ONLINE BANKING SERVICES PROVIDED TO YOU BY UNCAPPED TECHNOLOGIES INC. WE ARE ALSO NOT LIABLE FOR ANY UNAUTHORIZED ACCESS OF YOUR INFORMATION OR DATA BY A THIRD PARTY DUE TO YOUR USE OF THIRD-PARTY COMMUNICATION CHANNELS NOT OFFERED BY US.
ALL BANK SERVICES AND ACCOUNT FEATURES ARE PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE. WE DO NOT WARRANT THE BANK’S SERVICES OR ACCOUNT FEATURES WILL MEET YOUR REQUIREMENTS, BE CONTINUOUS, UNINTERRUPTED, SECURE, TIMELY, OR ERROR-FREE, OR THAT DEFECTS WILL BE CORRECTED.
7.4 Indemnification
You agree to indemnify and hold us and our officers, directors, shareholders, employees, successors, predecessors, representatives, principals, agents, assigns, parents, subsidiaries and/or insurers harmless for any losses, damages, suits and expenses, including reasonable attorneys’ fees, that we may incur, without regard to the merit or lack thereof, arising out of, or related in any way to (1) the matters set forth herein; (2) our taking any action or not taking any action that we are entitled to take pursuant to this Agreement; (3) any action or omission by you; or (4) our action or inaction in reliance upon oral, written or electronic instructions or information from you.
Equally, you agree to indemnify and hold Unit and its officers, directors, shareholders, employees, successors, predecessors, representatives, principals, agents, assigns, parents, subsidiaries and/or insurers harmless for any losses, damages, suits and expenses, including reasonable attorneys’ fees, that we may incur, without regard to the merit or lack thereof, arising out of, or related in any way to (1) the matters set forth herein; (2) our taking any action or not taking any action that we are entitled to take pursuant to this Agreement; (3) any action or omission by you; or (4) our action or inaction in reliance upon oral, written or electronic instructions or information from you.
7.5 Our Right of Set-Off and Security Interest
We have the right to set-off any liability, direct or contingent, past, present or future that you owe against any account you have with us. This means that we can take any funds in your Account or any other account you have with us to pay any debt or liability you owe us. You also agree to grant us a security interest in your Account to secure payment of any money that you owe to us or will owe us arising under this Agreement or any other agreements with us. You acknowledge that this security interest is consensual and in addition to any right of set-off. We may exercise our security interest or right of set-off without regard to the source of the funds in your Account or prior recourse to other sources of repayment or collateral, even if it causes you to incur penalties or suffer any other consequence. You waive any conditions or limits to our right of set-off to the maximum extent permitted by law. We will notify you if we exercise our right to set-off if required by law.
If we take any action to collect debt incurred by you or other amounts you owe us under this Agreement or defend ourselves in a lawsuit brought by you where we are the prevailing party, you agree to reimburse us for our losses, including, without limitation, reasonable attorneys’ fees, to the extent permitted by applicable law. We may charge your Account for our losses without prior notice to you.
7.6 Changes in Terms and Additional Services
We may change this Agreement, or any fees and features of your Account, at any time by posting an amended Agreement on Uncapped Technology Inc’s website, https://weareuncapped.com, and any such amendment shall be effective upon posting. We will give you advance notice of any change where required by law. We may provide such notice to you with your statement, electronically, or by mail. Any notice we provide to you will be binding and sent to the last (postal or electronic) address in our records. We may change your address if we receive an address change notice from the U.S. Postal Service. We may change or terminate this Agreement without notice at our discretion or to comply with any appropriate federal or state law or regulation.
If we make any of our other banking services available to you in connection with your Account, we may provide certain terms and conditions for those additional services to you in a separate agreement or disclosure.
7.7 No Waiver of Rights
We may waive or decline to enforce any of our rights under this Agreement without obligating ourselves to waive such rights in the future or on any other occasion. We may release any other person obligated under this Agreement without affecting your responsibilities under this Agreement.
7.8 Conflicts and Section Headings
If there is a conflict between this Agreement and any other document or statement made to you concerning the Account, this Agreement will govern. If there is a conflict between this Agreement and any other document or statement made to you concerning any services or products other than the Account, the separate terms and conditions applicable to that service or product will govern. Section headings that appear in this Agreement are for convenience purposes only and are intended to help you find information. They should not be construed as affecting the meaning of the Agreement.
7.9 Severability
If any court or tribunal of competent jurisdiction determines that any provision of this Agreement is illegal, invalid or unenforceable, the remainder of this Agreement shall not be affected. To the extent permitted by law, the parties waive any provision of law which prohibits or renders unenforceable any provisions of this Agreement, and to the extent that such waiver is not permitted by law, you and us agree that such provision will be interpreted as modified to the minimum extent necessary to render the provisions enforceable.
7.10 Governing Law, Forum and Time Limits
All actions relating to your Account and this Agreement will be governed by the laws and regulations of the United States and the Commonwealth of Virginia where your Account will be opened, irrespective of conflict of law principles. You agree that any dispute arising under this Agreement or relating in any way to your relationship with us that is not arbitrated will be resolved in a federal or state court located in Virginia and that you will be subject to such court’s jurisdiction.
Except where prohibited by law, you agree that you must file any lawsuit or arbitration against us within two (2) years after the claim arises unless federal or Virginia law, or another agreement you have with us, provides for a shorter time. If federal or Virginia law requires a longer time period than the time periods in this Agreement, you agree to the shortest time period permitted under the law.
8 Arbitration and Waivers
BE SURE THAT YOU HAVE READ THIS PROVISION CAREFULLY AND UNDERSTAND THAT IT LIMITS YOUR RIGHTS IN THE EVENT OF A DISPUTE BETWEEN YOU AND US.
8.1 Election to Arbitrate
You, Program Partner, and the Bank agree that the sole and exclusive forum and remedy for resolution of a Claim be final and binding arbitration pursuant to this Section 8 (the “Arbitration Provision”). As used in this Arbitration Provision, “Claim” shall include any past, present, or future claim, dispute, or controversy involving you (or persons claiming through or connected with you), on the one hand, and us on the other hand, relating to or arising out of this Agreement, and/or the activities or relationships that involve, lead to, or result from this Agreement, including the validity or enforceability of this Arbitration Provision, any part thereof, or the entire Agreement. Claims are subject to arbitration regardless of whether they arise from contract; tort (intentional or otherwise); a constitution, statute, common law, or principles of equity; or otherwise. Claims include matters arising as initial claims, counterclaims, cross-claims, third-party claims, or otherwise. Please note that you may continue to assert Claims in small claims court, if your Claims qualify and so long as the matter remains in such court and advances only on an individual (non-class, non-representative) basis. The scope of this Arbitration Provision is to be given the broadest possible interpretation that is enforceable.
8.2 Applicability of the Federal Arbitration Act; Arbitrator’s Powers
This Arbitration Provision is made pursuant to a transaction involving interstate commerce and shall be governed by and enforceable under the Federal Arbitration Act (the “FAA”). The arbitrator will apply substantive law consistent with the FAA and applicable statutes of limitations. The arbitrator may award damages or other types of relief permitted by applicable substantive law, subject to the limitations set forth in this Arbitration Provision. The arbitrator will not be bound by judicial rules of procedure and evidence that would apply in a court. The arbitrator shall take steps to reasonably protect confidential information.
8.3 Informal Dispute Resolution
If a Claim arises, our goal is to address your concerns and, if we are unable to do so, to provide you with a neutral and cost-effective means of resolving the dispute quickly. You agree that before filing any claim in arbitration, you will first submit your Claim to us through our online support tools and provide us with the opportunity to resolve your concern prior to initiating arbitration.
8.4 Arbitration Procedures
The party initiating arbitration shall do so with the American Arbitration Association (the “AAA”) or Judicial Alternatives and Mediation Services (“JAMS”). The arbitration shall be conducted according to, and the location of the arbitration shall be determined in accordance with, the rules and policies of the administrator selected, except to the extent the rules conflict with this Arbitration Provision or any countervailing law. If you have any questions concerning the AAA or would like to obtain a copy of the AAA arbitration rules, you may call 1(800) 778-7879 or visit the AAA's web site at: www.adr.org. If you have any questions concerning JAMS or would like to obtain a copy of the JAMS arbitration rules, you may call 1(800) 352-5267 or visit their web site at: www.jamsadr.com. In the case of a conflict between the rules and policies of the administrator and this Arbitration Provision, this Arbitration Provision shall control, subject to countervailing law, unless all parties to the arbitration consent to have the rules and policies of the administrator apply. The arbitration will be held in the United States county where you live or work, or any other location we agree to.
8.5 Arbitration Fees
If we initiate arbitration, we shall pay all the administrator's filing costs and administrative fees (other than hearing fees). If you initiate arbitration, filing costs and administrative fees (other than hearing fees) shall be paid in accordance with the rules of the administrator selected, or in accordance with countervailing law if contrary to the administrator's rules. We shall pay the administrator's hearing fees for one full day of arbitration hearings. Fees for hearings that exceed one day will be paid by the party requesting the hearing, unless the administrator's rules or applicable law require otherwise, or you request that we pay them and we agree to do so. Each party shall bear the expense of its own attorneys' fees, except as otherwise provided by law. If a statute gives you the right to recover any of these fees, these statutory rights shall apply in the arbitration notwithstanding anything to the contrary herein.
8.6 Appeals
Within thirty (30) days of a final award by the arbitrator, any party may appeal the award for reconsideration by a three-arbitrator panel selected according to the rules of the arbitrator administrator. In the event of such an appeal, any opposing party may cross-appeal within thirty (30) days after notice of the appeal. The panel will reconsider de novo all aspects of the initial award that are appealed. Costs and conduct of any appeal shall be governed by this Arbitration Provision and the administrator's rules, in the same way as the initial arbitration proceeding. Any award by the individual arbitrator that is not subject to appeal, and any panel award on appeal, shall be final and binding, except for any appeal right under the Federal Arbitration Act (“FAA”), and may be entered as a judgment in any court of competent jurisdiction.
8.7 No Class Actions
NO ARBITRATION SHALL PROCEED ON A CLASS, REPRESENTATIVE, OR COLLECTIVE BASIS (INCLUDING AS PRIVATE ATTORNEY GENERAL ON BEHALF OF OTHERS), EVEN IF THE CLAIM OR CLAIMS THAT ARE THE SUBJECT OF THE ARBITRATION HAD PREVIOUSLY BEEN ASSERTED (OR COULD HAVE BEEN ASSERTED) IN A COURT AS CLASS REPRESENTATIVE, OR COLLECTIVE ACTIONS IN A COURT. Unless consented to in writing by all parties to the arbitration, no party to the arbitration may join, consolidate, or otherwise bring claims for or on behalf of two or more individuals or unrelated corporate entities in the same arbitration unless those persons are parties to a single transaction. Unless consented to in writing by all parties to the arbitration, an award in arbitration shall determine the rights and obligations of the named parties only, and only with respect to the claims in arbitration, and shall not (a) determine the rights, obligations, or interests of anyone other than a named party, or resolve any Claim of anyone other than a named party; nor (b) make an award for the benefit of, or against, anyone other than a named party. No administrator or arbitrator shall have the power or authority to waive, modify, or fail to enforce this Section 8.7, and any attempt to do so, whether by rule, policy, arbitration decision or otherwise, shall be invalid and unenforceable. Any challenge to the validity of this Section 8.7 shall be determined exclusively by a court and not by the administrator or any arbitrator.
8.8 Survival and Severability of Arbitration Provision
This Arbitration Provision shall survive the termination of this Agreement. If any portion of this Arbitration Provision other than Section 8.7 is deemed invalid or unenforceable, the remaining portions of this Arbitration Provision shall nevertheless remain valid and in force. If there is a final judicial determination that applicable law precludes enforcement of this Arbitration Provision’s limitations as to a particular claim for relief or particular term, then that claim (and only that claim) or that term (and only that term) must be severed from the Arbitration Provision and may be brought in court. If an arbitration is brought on a class, representative, or collective basis, and the limitations on such proceedings in Section 8.7 are finally adjudicated pursuant to the last sentence of Section 8.7 to be unenforceable, then no arbitration shall be had. In no event shall any invalidation be deemed to authorize an arbitrator to determine Claims or make awards beyond those authorized in this Arbitration Provision.
8.9 Judicial Forum for Claims
Except as otherwise required by applicable law, in the event that this Arbitration Provision is found not to apply to you or your Claim, you and the Bank agree that any judicial proceeding (other than small claims actions) will be brought in the federal or state courts of Virginia. Both you and the Bank consent to venue and personal jurisdiction there. All parties agree to waive our right to a jury trial.
8.10 WAIVER OF RIGHT TO LITIGATE
THE PARTIES ACKNOWLEDGE THAT THEY HAVE A RIGHT TO LITIGATE CLAIMS THROUGH A COURT BEFORE A JUDGE OR JURY, BUT ARE HEREBY KNOWINGLY AND VOLUNTARILY WAIVING THAT RIGHT BY AGREEING TO THIS AGREEMENT AND ARBITRATION PROVISION.
