Term and conditions

Terms of Use

Nov 12, 2019

Please review these Terms of Use before using this site or accessing any data on the Payment Porte platform. If you do not agree to these terms without limitation or exclusion, you should exit this site. These Terms of Use are effective immediately for new users, and from Nov 12, 2019 for existing users.

Welcome to the Payment Porte financial platform. The Payment Porte service and network (collectively, the "Service") are operated by Payment Porte Corporation, a Panama ("the Company," "we," or "us"). By accessing or using our web site at www.Payment Porte.com, including any subdomain thereof (the "Site"), you (the "User") signify that you have read, understand and agree to be bound by these terms of use ("Terms of Use"), regardless of whether you are a registered member of the Service. In addition to these Terms of Use, you may enter into other agreements with us or others that will govern your use of the Service or related services offered by us or others. If there is any contradiction between these Terms of Use and another agreement you enter into applicable to specific aspects of the Service, the other agreement shall take precedence in relation to the specific aspects of the Service to which it applies. As used herein, "Users" means anyone who accesses and/or uses the Site. For any terms herein applicable to all Users, all applicants, whether individually or jointly, all investor members, or business and other entity Users specifically, or where the context otherwise requires, "Users" shall be deemed to include any business or other entity on behalf of which the Site or Service is accessed by any other User, and "you" shall be deemed to include any such business or other entity and any person acting on behalf of any such business or other entity in connection with the use of the Site or Service. For purposes of these Terms of Use, a sole proprietor participating in our Small Business lending program is deemed to be acting on behalf of a business.

Changes to these Terms of Use

We may make changes to these Terms of Use from time to time. If we do this, we will post the changed Terms of Use on the Site and will indicate at the top of this page the date the Terms of Use were last revised. You understand and agree that your continued use of the Service or the Site after we have made any such changes constitutes your acceptance of the new Terms of Use

General & Acceptance

BY USING AND/OR VISITING THIS WEBSITE AND/OR USING THE Payment Porte SERVICES (specifically, inputting your user id in the space provided on various pages of the www.paymentporte.com website, the "Services"), YOU SIGNIFY YOUR ASSENT TO BOTH THESE TERMS AND CONDITIONS (the "Terms of Use" or "Agreement") AND THE TERMS AND CONDITIONS OF Payment Porte, ("Paymentporte") PRIVACY POLICY, WHICH ARE PUBLISHED VIA A LINK ON http://www.paymentporte.com (the "Website"), AND WHICH ARE INCORPORATED HEREIN BY REFERENCE. If you do not agree to any of these terms, then please do not use the Website or the Services. Please note that your application for a funding account with Paymentporte is subject to a separate agreement that will be provided to you upon application. THESE TERMS OF USE DO NOT COVER YOUR FUNDING ACCOUNT APPLIED FOR THROUGH THE WEBSITE, unless otherwise stated herein. The use of the term Paymentporte herein includes Paymentporte, Inc. and its affiliates, vendors, partners, agents and other personnel. In addition to all other agreements that may be provided to you, this Terms of Use Agreement sets forth the legally binding terms for your use of the Services and they shall apply to all users of the Website. By using the Services, you agree to be bound by this Agreement. You are only authorized to use the Services (regardless of whether your access or use is intended) if you agree to abide by all applicable laws and to this Agreement. PLEASE READ THIS AGREEMENT CAREFULLY AND SAVE IT. IF YOU DO NOT AGREE WITH IT, YOU SHOULD LEAVE THE WEBSITE AND DISCONTINUE USE OF THE SERVICES IMMEDIATELY. IF YOU WISH TO USE OF THE SERVICES, YOU MUST READ THIS AGREEMENT. In order to participate in certain other services provided through the Website, you will be notified that you are required to agree to additional terms and conditions. Paymentporte may modify this Agreement from time to time and such modification shall be effective upon posting by Paymentporte on the Website. You agree to be bound to any changes to this Agreement when you use the Services after any such modification is posted. It is therefore important that you review this Agreement regularly upon each use of the Services to ensure you are updated as to any changes.

1: Eligibility

Use of the Services is void where prohibited. By using the Services, you represent and warrant that (a) all application information you submit is truthful and accurate; (b) you will maintain the accuracy of such information; (c) you are 18 years of age or older; and (d) your use of the Services does not violate any applicable law or regulation. Your profile may be deleted and your Membership may be terminated without warning, if we believe, in our sole discretion, that you are less than 18 years of age.

2: Provided Services

Subject to full compliance with the Terms of this Use Agreement, PaymentPorte shall provide certain services related to the input of your marketplace ID(s) on various pages of the Website. The Services are provided by PaymentPorte AS IS and PaymentPorte assumes no responsibility for any failure in providing the Services to you. PaymentPorte may change, suspend or discontinue any or all of the Services for any reason, at any time, including the availability of any products or services included within the Services. PaymentPorte may also impose limits on all or any of the Services or restrict your access to parts or all of the Services without notice or liability. PaymentPorte may include commercial opportunities or content in any PaymentPorte product, services, image or webpage.

General Undertakings

You accept sole responsibility for all of your activities using the Website, including your conduct on the site. You will not use the Services for any unauthorized or illegal purpose. You will be responsible for ensuring that you do not violate any laws of your jurisdiction, including but not limited to copyright laws. You will not upload or transmit viruses, worms or any other destructive code. You will not use bots to engage the Services.

The Website

The Website may contain third party content about, and links to, third parties and their websites that are not owned or controlled by PaymentPorte. PaymentPorte has no control over, and assumes no responsibility for the content, privacy policies, or practices of any third party content or websites or any of their contents. In addition, PaymentPorte will not and cannot censor or edit the content of any third-party site. By using the Website, you expressly relieve PaymentPorte from any and all liability arising from your use of any third-party website. Accordingly, we encourage you to be aware when you leave the Website and to read the terms and conditions and privacy policy of each other website that you visit.

Website Access

A. PaymentPorte, hereby grants you permission to use the Website as set forth in this Terms of Use, provided that: (i) you will not alter or modify any part of the Website other than as may be reasonably necessary to use the Website for its intended purpose and/or in a manner allowed by PaymentPorte; and (ii) you will otherwise comply with the terms and conditions of these Terms of Service. B. In order to access some features of the Website, you will have to create an account. You may never use another's account without permission. When creating your account, you must provide accurate and complete information. You are solely responsible for the activity that occurs on your account, and you must keep your account password secure. You accept sole responsibility for keeping your password secure. You must notify PaymentPorte immediately of any breach of security or unauthorized use of your account. Although PaymentPorte will not be liable for your losses caused by any unauthorized use of your account, you may be liable for the losses of PaymentPorte or others due to such unauthorized use.

Third-Party Service Providers

Provide Accurate Information. You agree to provide true, accurate, current, and complete information about yourself and your accounts maintained at other web sites and you agree to not misrepresent your identity or your account information. You agree to keep your account information up to date and accurate.

Proprietary Rights. You are permitted to use content delivered to you through the Services only on the Services. You may not copy, reproduce, distribute, or create derivative works from this content. Further, you agree not to reverse engineer or reverse compile any of the Services technology.

Content You Provide. You are licensing to PaymentPorte and its service providers ("Service Provider"), any information, data, passwords, materials or other content (collectively, "Content") you provide through or to the Services for the purpose of enabling PaymentPorte and the Service Provider to provide you the Services. During the term of this Agreement, PaymentPorte and the Service Provider may use, modify, display, distribute and create new material using such Content to provide the Services to you. By submitting Content, you automatically agree, or promise that the owner of such Content has expressly agreed that, without any particular time limit, and without payment of any fees, PaymentPorte and the Service Provider may use the Content for the purposes set out above.

Third Party Accounts. By using the Services, you authorize PaymentPorte and the Service Provider to access third-party sites designated by you, on your behalf, to retrieve information requested by you, and to register for accounts requested by you. For all purposes hereof, you hereby grant PaymentPorte and the Service Provider a limited power of attorney, and you hereby appoint PaymentPorte and the Service Provider as your true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for you and in your name, place and stead, in any and all capacities, to access third- party internet sites, servers or documents, retrieve information, and use your information, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with such activities, as fully to all intents and purposes as you might or could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN PaymentPorte OR THE SERVICE PROVIDER ACCESSES AND RETRIEVES INFORMATION FROM THIRD-PARTY SITES, PaymentPorte AND SERVICE PROVIDER ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OR ON BEHALF OF THE THIRD PARTY. You agree that third- party account providers shall be entitled to reply on the foregoing authorization, agency and power of attorney granted by you. You understand and agree that the Services are not endorsed or sponsored by any thirdparty account providers accessible through the Services. You acknowledge that through the use of the Services, PaymentPorte shall have access to your account credentials, including but not limited to login username and passwords.

Modification and Termination of the Services

PaymentPorte may, in its sole discretion, discontinue offering the Services or terminate or suspend your access to the Services at any time.

PaymentPorte reserves the right to change or modify any of the terms and conditions contained in the Terms of Use at any time, in its sole discretion, by posting changes at www.paymentporte.com/terms-of-service (or another URL that PaymentPorte may provide from time to time). You are advised to regularly review the policy. You accept modifications of the Terms of Use through online acceptance of the terms or through your continued use of any part of the Services following the posting of any such changes or modifications.

Definitions

In the Merchant Agreement, and in the Terms & Conditions, the following definitions shall apply:

Account Holder

Any person who is authorised to use a Payment Method issued to him.

Acquirer

A financial institution that is authorised by a Scheme Owner to enable the use of a Payment Method by accepting Transactions from merchants on behalf of the Scheme Owners, routing these to the Scheme Owners or Issuing Banks and collecting and settling the resulting funds to the Merchant.

Acquiring via Payment Porte

Use of a Payment Method via Payment Porte where Payment Porte acts as the Acquirer or Payment Porte contracts with the relevant third party Acquirer on behalf of the Merchant to enable the use by Merchant of such Payment Method

API

Application Programming Interface consisting of a direct secured internet connection between the Merchant's site and the Payment Porte environment via which Payment Details are sent.

Authorisation

The bank account held by an Eligible Merchant with Payment Porte on which funds owed by Payment Porte to the Eligible Merchant (credit) or by the Eligible Merchant to Payment Porte (debit) are administered and on which Payment Porte will Settle the funds for Transactions validly processed for the Merchant.

Business Day

A day other than a Saturday or Sunday on which banks are open for business in Panama.

Capture Period

The period in which an Authorised Transaction can be Captured. The Capture Period varies per Payment Method. 


Capturing

The confirmation by (or on behalf of) the Merchant to the Acquirer that a Transaction for which Merchant received an Authorisation is to be executed and the Account of the Account Holder is to be actually charged for the Transaction. “Captured” shall have the corresponding meaning.

Card

Any form of Credit Card or Debit Card, which may be used by a Cardholder to carry out a Transaction on a Cardholder's account.

Card Association / Card scheme

Visa, MasterCard, Discover or comparable bodies which provide Cards.

Cardholder

Any person who is issued a Card and possesses and uses a Card and, where required on the Card, whose signature appears on the Card as an authorised user.

Credit Card

Any form of credit card, which permits or enables Transactions on a Cardholder's account

Customer Area

The secured interface on Payment Porte website where Merchants can review and operate on their Transactions, profile and settings and find usage instructions, information regarding the Services and the Payment Methods.

Debit Card

Any form of debit card, which permits or enables Transactions on a Cardholder's account.

Working Hours

24 hr client services (when platform is live) in Panama, or such other hours as may be published by Payment Porte on the Customer Area.

Payment Porte Inc

Should you have any questions concerning this Agreement, or if you desire to contact the Company for any reason, please email to [email protected] or write: PaymentPorte Limited, Panama City, Panama.