Terms and Conditions

Agreement to Terms

These Terms and Conditions ("Terms") constitute a legally binding agreement between you and Split LLC ("Split," "we," "us," or "our") concerning your access to and use of our payment processing and merchant funding services, including our website and mobile applications (collectively, the "Services").

By accessing or using our Services, you agree to be bound by these Terms. If you do not agree with any part of these Terms, you must not use our Services.

Eligibility

To use our Services, you must:

• Be at least 18 years of age
• Have the legal authority to enter into this agreement on behalf of your business
• Operate a legitimate business with valid tax identification
• Comply with all applicable laws and regulations
• Not be listed on any government prohibited or restricted party lists

Payment Processing Services

Merchant Account

By using our payment processing services, you authorize us to:

• Process credit card, debit card, and ACH transactions on your behalf
• Hold funds in accordance with our settlement schedule
• Withhold reserves as necessary to manage risk
• Deduct our fees from your transaction proceeds

Prohibited Activities

You agree not to use our Services for:

• Illegal activities or prohibited business types
• Processing transactions that you know or suspect to be fraudulent
• Money laundering or terrorist financing
• Processing transactions without proper customer authorization
• Circumventing card network rules or our policies

Chargebacks and Disputes

You are responsible for all chargebacks, reversals, and disputes related to your transactions. We may debit your account for chargeback amounts, fees, and associated costs. You agree to maintain sufficient funds in your account to cover potential chargebacks.

Merchant Funding Services

Funding Offers

Split Funding is a merchant cash advance product, not a loan. Funding offers are based on your card processing history and are subject to our underwriting criteria. We reserve the right to:

• Approve, deny, or modify funding applications at our discretion
• Adjust funding amounts based on processing volume changes
• Require additional documentation or information
• Withdraw funding offers prior to disbursement

Repayment Terms

Repayment is made through automatic daily deductions from your card processing receipts at a fixed percentage rate specified in your funding agreement. Key terms include:

• Repayment continues until the purchased amount is fully reconciled
• No prepayment penalties or interest charges
• Repayment speed varies based on your daily sales volume
• Minimum processing requirements may apply

Renewal and Additional Funding

Upon reaching 50% repayment of your current funding, you may become eligible for additional funding. Renewal offers are subject to your processing performance and our underwriting criteria.

Fees and Charges

You agree to pay all fees associated with our Services as outlined in your merchant agreement and pricing schedule. Fees may include:

• Transaction processing fees (per-transaction and percentage-based)
• Monthly account fees
• Chargeback fees
• PCI compliance fees
• Equipment rental or purchase fees
• Funding origination fees

We reserve the right to modify our fees with 30 days' written notice. Continued use of our Services after such notice constitutes acceptance of the new fees.

Data Security and Compliance

You agree to:

• Maintain PCI DSS compliance for all cardholder data
• Implement reasonable security measures to protect customer information
• Notify us immediately of any data breaches or security incidents
• Comply with all applicable data protection and privacy laws
• Never store prohibited cardholder data (CVV, full magnetic stripe, PIN)

Account Termination

Either party may terminate this agreement with 30 days' written notice. We may immediately suspend or terminate your account if:

• You violate these Terms or our policies
• We detect fraudulent or suspicious activity
• Your chargeback rate exceeds acceptable thresholds
• You fail to pay fees or settle negative balances
• Required by law or card network rules

Upon termination, all outstanding obligations remain due, including funding repayment obligations and negative balance settlements.

Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW:

• SPLIT SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES
• OUR TOTAL LIABILITY SHALL NOT EXCEED THE FEES PAID BY YOU IN THE THREE MONTHS PRECEDING THE CLAIM
• WE ARE NOT LIABLE FOR LOSSES CAUSED BY SERVICE INTERRUPTIONS, THIRD-PARTY ACTIONS, OR FORCE MAJEURE EVENTS

Indemnification

You agree to indemnify, defend, and hold harmless Split and its officers, directors, employees, and agents from any claims, liabilities, damages, losses, and expenses arising from:

• Your use of our Services
• Your violation of these Terms
• Your violation of any laws or third-party rights
• Chargebacks and transaction disputes
• Your products, services, or business practices

Dispute Resolution

Any disputes arising from these Terms shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association. The arbitration shall be conducted in Raleigh, North Carolina, and the decision shall be final and binding.

You waive any right to participate in class action lawsuits or class-wide arbitration.

Governing Law

These Terms shall be governed by and construed in accordance with the laws of the State of North Carolina, without regard to its conflict of law provisions.

Changes to Terms

We reserve the right to modify these Terms at any time. We will provide notice of material changes by email or through our Services. Your continued use of our Services after such notice constitutes acceptance of the modified Terms.

Contact Information

If you have any questions about these Terms, please contact us: