VAYA TECHNOLOGIES TERMS OF SERVICE

EFFECTIVE: July 1, 2022

General

These Terms of Service, together with any materials that are linked from these Terms of Service (collectively, this “Agreement”), describe the terms and conditions that govern your access to and use of the Application, as defined below.

BY CLICKING THE “CONTINUE” BUTTON, YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS OF THIS AGREEMENT.  IF AN INDIVIDUAL IS ENTERING INTO THIS AGREEMENT ON BEHALF OF AN ENTITY CREATED UNDER STATUTE, THAT INDIVIDUAL REPRESENTS AND WARRANTS THAT HE OR SHE HAS THE AUTHORITY TO BIND THE ENTITY TO THIS AGREEMENT. 

VAYA MAY CHANGE THE TERMS OF THIS AGREEMENT FROM TIME TO TIME BY POSTING SUCH CHANGE AT WWW.VAYA.FINANCE.  YOUR USE OF THE APPLICATION AFTER VAYA HAS CHANGED THE TERMS OF THIS AGREEMENT WILL CONSTITUTE YOUR ACCEPTANCE OF AND AGREEMENT TO SUCH CHANGED TERMS.  YOU AGREE THAT VAYA MAY NOTIFY YOU ABOUT MATERIAL CHANGES TO THE TERMS OF THIS AGREEMENT BY E-MAIL OR ANY OTHER NOTIFICATION METHOD WE CONSIDER TO BE REASONABLE.

Defined terms used in these Terms of Service

The following terms are used in these Terms of Service:

  • References to “Vaya”, “our”, “we” or “us” mean Vaya Technologies Inc.
  • References to the “Vaya Capital Program” mean a program operated by Vaya that makes short-term loans to businesses for commercial or business purposes only.  
  • References to “you” mean each business providing information through the Application for  Vaya’s use in underwriting and otherwise considering that business’s participation in the Vaya Capital Program.  A business can be either an entity or an individual who is a sole proprietor.
  • References to “Participating Lender” mean any third party directly or indirectly providing funds for extensions of credit under the Vaya Capital Program.
  • References to “Platform” mean the online service or platform in connection with which you are considered for a potential offer of credit under the Vaya Capital Program. 
  • References to the “Application” mean a web-based application linking to these Terms and Conditions and through which Vaya collects information for and administers the Vaya Capital Program.

Privacy Policy

The Vaya Technologies Privacy Policy applies to Vaya’s information collection practices under the Vaya Capital Program and the ways in which we may use the information we receive. A copy of the Vaya Technologies Privacy Policy can be found here. By your use of the Application, you agree to the Vaya Technologies Privacy Policy and to be bound by the terms and conditions set forth in the policy.

Use of the Application

Vaya grants you access to the Application for the sole purpose of providing the information requested by the Application. You agree that all information provided by you through use of the Application will be complete and correct, and that you are authorized to provide all information that you submit. If after submitting information through the Application you determine that any of the information submitted is incomplete and/or incorrect, you will promptly contact Vaya by e-mail at corrections@vaya.finance to provide any information needed to make the information complete and correct.
You will not use the Application for any purpose other than providing the information requested by the Application.  Without limiting the preceding sentence, you will not:

  • Disable, damage or disrupt the operation of the Application, or interfere with any other party’s use of the Application;
  • Gain unauthorized access to the Application or any information submitted to or stored by the Application;
  • Deactivate or render ineffective any technological measure or protection employed by the Application;
  • Introduce any malicious software into the Application (including any virus, trojan horse, worm or logic bomb); or
  • Use the Application for any illegal purpose.

Actions by Vaya

Vaya will use the information submitted by you through the Application for purposes related to the Vaya Capital Program, consistent with the Privacy Policy.

Vaya will use the information provided by you through the Application, in combination with additional information obtained by Vaya from third parties, to underwrite a potential offer of credit to you under the Vaya Capital Program.  After Vaya completes the underwriting process, Vaya will notify you whether you qualify for an offer of credit and, if you qualify for an offer, the details of the offer.  If you receive an offer of credit, your receipt of that credit will be subject to your completion of any additional actions required by Vaya or any Participating Lender.  Such additional steps will include, but not be limited to, your provision of additional information, and your execution of a loan agreement and/or a promissory note and other documentation, all in a form and format acceptable to Vaya and any Participating Lender.

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In addition to the information you provide through the Application, Vaya will collect information regarding you from other sources in order to underwrite a potential offer of credit to you under the Vaya Capital Program.  Other sources from which Vaya may collect information about you include but may not be limited to:

  • The Platform;
  • Financial institutions at which you maintain an account, through use of Plaid, Inc.’s information-gathering service;
  • Credit reporting agencies; and
  • Public records.

You agree and consent to Vaya’s collection of information from other sources, and authorize Vaya, any Participating Lender, and any other source of information used by Vaya or a Participating Lender to access, transmit, store and process your information as necessary to underwrite, make, administer and collect extensions of credit under the Vaya Capital Program.

Vaya will provide you with notice if we decline to extend an offer of credit to you under the Vaya Capital Program based on information in your consumer credit report.  You agree and consent to allow Vaya to access all of the other sources of information, including your consumer credit report and any public records, for as long as an extension of credit under the Vaya Capital Program is outstanding to you.     

Transfer of Funds

If credit is extended to you pursuant to the Vaya Capital Program, you will be required to open a “Dwolla Account” provided by Dwolla, Inc. and to accept the Dwolla Terms of Service and Privacy Policy. Any funds held in or transferred through your Dwolla Account will be held or transferred by Dwolla’s financial institution partners. You must be at least 18 years old to create a Dwolla Account. If you open a Dwolla Account, you authorize Vaya to collect and share with Dwolla your personal information including full name, email address and financial information, and you are responsible for the accuracy and completeness of that data. You understand that you will access and manage your Dwolla Account through the Application, and Dwolla account notifications will be sent by Vaya, not Dwolla. Vaya will provide customer support for your Dwolla Account activity, and can be reached for Dwolla customer support at help@vaya.finance

Disclaimers

You agree with Vaya as follows:

  • By submitting information through the Application you are applying for credit pursuant to the Vaya Capital Program; 
  • You are applying for credit to be used solely for short-term commercial and business purposes;
  • The proceeds of any credit extended to you will not be used for any personal, family or household purposes;
  • Any decision regarding the extension of credit to you pursuant to the Vaya Capital Program will be made at the sole discretion of Vaya and any Participating Lender;
  • Your receipt of any credit offered pursuant to the Vaya Capital Program will be subject to your completion of any additional actions and documentation required by Vaya or any Participating Lender;
  • Your use of the Application does not create an agreement by, or a commitment or obligation on the part of, Vaya or any Participating Lender to extend credit to you; 
  • Vaya or any Participating Lender may, at any time and in its sole discretion, cease to underwrite or consider a potential extension of credit to you under the Vaya Capital Credit Program; and
  • Vaya may, at any time and in its sole discretion, terminate the Vaya Capital Credit Program.

Waiver and Release

In consideration of Vaya’s evaluation of a potential offer of credit to you under the Vaya Capital Program, you agree to waive and release any and all claims, demands, causes of action and damages that you may have or claim to have against Vaya, any Participating Lender, and the Platform, arising from, relating to or in connection with this Agreement or the subject matter of this Agreement, other than Vaya’s use of your information in violation of the Vaya Technologies Privacy Policy. 

Electronic Records and Signatures

You agree with Vaya that:

  • All notices, disclosures, applications, notes and other documents given, made, submitted, issued or exchanged in connection with the Vaya Capital Program will be created, executed, delivered and stored electronically; and 
  • All of your and Vaya’s signatures in connection with the Vaya Capital Program will be created or affixed by electronic means, and your and Vaya’s electronic signatures will have the same legal effect for all purposes, including validity, enforceability and admissibility, as a handwritten signature.

Miscellaneous Provisions

This Agreement embodies the entire agreement of the parties relating to the subject matter hereof and supersedes all prior understandings or agreements between the parties relating to the same. You will not assign any of your rights under this Agreement without the prior written consent of Vaya. Any attempted assignment of this Agreement in violation of this section will be void. Nothing in this Agreement shall be construed to give any person or entity other than the parties hereto any legal or equitable right, remedy or claim in connection with or arising from this Agreement. Neither party shall be liable to the other for any indirect, special, incidental, punitive or consequential damages, caused by or resulting from any breach of this Agreement or arising out of the performance of this Agreement, and each party hereby expressly waives such damages. The parties hereto are independent contractors, and neither party is authorized to bind the other party or otherwise act in the name of or on behalf of the other party.This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect to the conflict of laws principles thereof.  Venue for any suit, cause of action or other dispute relating to this Agreement shall be in Delaware. If any provision of this Agreement is determined to be invalid by a court of competent jurisdiction, all other provisions of this Agreement shall remain in effect.

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