Loan Agreement Terms

This Afterpay Plus Card Loan Agreement (“Agreement”) governs your financing of a particular purchase using the Afterpay Plus Card Account, and includes: (i) the invoice, receipt, or other similar statement of total purchase price provided to you by the merchant in connection with the financed transaction; and (ii) the Final Payment Schedule that is sent after you complete your purchase with the merchant that will contain your actual down payment, payment amounts and due dates with respect to the financed transaction. The Final Payment Schedule will supersede and replace the Payment Schedule shown above. The merchant’s invoice, receipt, or other similar statement of total purchase price are expressly incorporated into the terms of this agreement to the extent that they address the total amount due.

As a condition of the disbursement of proceeds hereunder you agree to make the down payment identified above which shall be due prior to disbursement of any proceeds described below.

PROMISE TO PAY: The Agreement governs your repayment to us in connection with funds we disbursed at your direction and on your behalf through your use of the Afterpay Plus Card Account to make a particular purchase transaction through which you acquire certain merchandise or services that you have selected from a merchant. You promise to pay the total purchase price (inclusive of all taxes and fees) indicated on your merchant’s invoice, receipt, or other similar statement of total purchase price in connection with the transaction for which you presented your Afterpay Plus Card Account number or alternative means of account access for payment, plus all other charges accruing under this Agreement until paid in full. Your total obligation will be the sum of your down payment (if applicable, as indicated in the Payment Schedule) and your remaining payments under this Agreement. Your down payment, if applicable, will be due immediately upon your use of your Afterpay Plus Card Account number or alternative means of account access. Your remaining payments will be due in two-week intervals from the date of your down payment, in amounts substantially equal to 25% of the total purchase price. You understand that the actual amounts and due dates of your “Down Payment” and the payments in your “Remaining Payment Schedule” will be provided to you electronically as a supplement to this Agreement (the “Final Payment Schedule”) that will be made available to you through our service provider in your Afterpay Account when you use your Afterpay Plus Card Account for a financed transaction that we approve.

THERE ARE NO FINANCE CHARGES AND NO INTEREST PAYMENTS ASSOCIATED WITH THIS AGREEMENT. The issuer of your Payment Method (defined below) may charge interest or other charges in accordance with the terms and conditions of the agreement between you and your Payment Method issuer.

Please note that Section 10 of this Agreement includes provisions that govern how claims we may have against each other are resolved. These provisions limit our liability and may require arbitration for a dispute that you assert against us. The Agreement includes important terms regarding your rights related to fees, dispute resolution and governing law.

This Agreement incorporates by reference all terms and conditions of our Privacy Policy or the U.S. Terms of Service (available at: https://www.afterpay.com/terms-of-service) and the U.S. Privacy Policy (available at https://www.afterpay.com/privacy-policy) of our service provider in connection with the Afterpay Plus Card Account unless explicitly superseded by this Agreement. In the event of a conflict with our Privacy Policy, or the U.S. Terms of Service or the U.S. Privacy Policy of our service provider, this Agreement shall govern with respect to the subject matter of such conflicting terms.

1. Use of Proceeds and Disbursement Authorization

By electronically accepting this Agreement through use of your Afterpay Plus Card Account number or alternative means of account access to complete a purchase, you agree to pay the down payment amount to us or our service provider, and we agree to disburse the proceeds under this Agreement to the merchant that you select by using the Afterpay Plus Card Account at checkout. You promise to repay us the amount of your purchase as indicated by the merchant at checkout. Your final payment schedule including your future payment schedule will be provided to you electronically as a supplement to this Agreement (the “Final Payment Schedule”). You also agree to pay any applicable Late Fees and NSF or Returned Payment Fees (each, as defined below) you incur under this Agreement. Please be aware that by entering this Agreement you are incurring a personal obligation for goods and/or services for personal use.

If your purchase is in a foreign currency, we will convert the amount of your purchase in a foreign currency into U.S. dollars based on the conversion rate we received from a third party as of the end of the prior business day. This rate may differ from other exchange rates and may differ from the rates in effect in the wholesale markets on the date you made the purchase. If you return your purchase, we will process the return based on the currency conversion rate used to determine the purchase price.

1. Installment Payments

In connection with use of your Afterpay Plus Card Account number or alternative means of account access to enter into this Agreement, you will have identified your preferred method of payment, designating an eligible US-issued credit or debit card as your “Payment Method.” In addition to any required down payment, you must make three (3) payments to us (each, an “Installment Payment”) in the amounts shown in your Final Payment Schedule identified as “Remaining Payment Schedule”. You are responsible for ensuring that you have sufficient funds available to make Installment Payments on the dates specified in your Final Payment Schedule.

If you make all Installment Payments in full on their due dates, your final payment will be made on the Maturity Date identified in the Final Payment Schedule. You may prepay all amounts due under this Agreement in whole or in part at any time without a penalty and may make any payment early, in whole or in part, without penalty or premium at any time.

If you would like to change your Payment Method or make alternate payment arrangements, you are able to do so online or if the specific feature is not available, or if you have further issues or questions, you may contact us through our service provider at [email protected]. The Payment Method you select and any necessary authorization will not affect your obligation to pay when due all amounts payable under this Agreement. The foregoing authorization is in addition to, and not in limitation of, any rights of setoff we may have under applicable law.

1. Late Payments and Returned Payments

There are no finance charges or interest associated with this Agreement.

However, if an Installment Payment is not paid on or prior to the due date specified in the Final Payment Schedule and remains unpaid for a period of ten (10) days after the due date (or such additional grace period required by applicable law), the Late Fee indicated above in the Payment Schedule (if any) will be imposed, up to a maximum of $8.00 and which in no event will exceed the maximum late fee permitted by applicable state law. Additionally, the aggregate sum of Late Fees associated with a particular order will not exceed 25% of the order value at the time of purchase. Thus, lower value purchases may be subject to fewer or lesser Late Fees in the event of late payment.

1. Delinquency and Default

If you fail to make any payment when due in the manner required by this Agreement, you will be delinquent. If you are delinquent, have filed or have instituted against you bankruptcy or insolvency proceedings or are in breach any other material term of this Agreement, we may, to the extent and at the time permitted by applicable law, deem you in default and accelerate the maturity of this Agreement and all payments due hereunder. If you fail to make a payment required under this Agreement or your Afterpay Plus Card Account, or if your use of your Afterpay Plus Card account is in breach of the Afterpay Plus Card Account Agreement, we reserve the right to limit, restrict, suspend or terminate your access to your Afterpay Plus Card Account.

1. Approval and Cancellation

When you use your Afterpay Plus Card Account number or alternative means of account access to make a purchase, you are requesting credit from us and submitting an application for our review. All applications for credit are subject to our approval. We may, in our sole discretion, not approve your application, or cancel an approved application before the goods or services are delivered or supplied. If we cancel your previously approved application:

1. We will apply a full refund of any amounts you have paid (excluding any chargebacks or fees incurred in relation to your payment), and will cancel any future payments related to that order;
2. The merchant providing the merchandise will not be obliged to deliver the goods (or provide any related services); and
3. You will have no obligation to make any further payments to us, or continue any other ongoing relationship with us, with respect to your application.

You agree that we may make any inquiries to assess your eligibility to use the services including of third parties. This includes consent for us or our service provider, Afterpay US Services, LLC, to obtain one or more credit reports or other consumer reports from consumer reporting agencies for use in determining my eligibility for an Afterpay Plus Card Loan Agreement, reviewing and servicing my Afterpay Plus Card Account, marketing Afterpay Plus Card or other Afterpay products or services to me, and for other permissible purposes under the Fair Credit Reporting Act.

1. Pre-Authorizations

As part of our approval process and our assessment as to whether or not you have the ability to fulfill your obligation to pay when due all amounts owed under this Agreement, we reserve the right to conduct a pre-authorization of your Payment Method. This may involve placing funds in the account linked to your Payment Method on hold each time you make an online purchase, obtain authorization for an in-store purchase or add a Payment Method to your Afterpay Plus Card Account. For online purchases, we immediately instruct your bank to void this pre-authorization transaction. For in-store purchases, where an authorization is obtained but there is no completed purchase, we instruct the bank to void the pre-authorization if the authorization is cancelled or expires. No funds are received by us or our service provider, Afterpay, during this process. We cannot guarantee the time it takes for your bank to process the void action and make your funds available.

PLEASE NOTE: In most circumstances, relevant banks will void a pre-authorization transaction within a few hours of the pre-authorization transaction being conducted by us or our service provider, Afterpay. However, in some observed instances, banks have taken up to fourteen (14) days to finalize this process. Unfortunately, we do not have any control or influence over the timing of your bank’s ability to finalize this process and neither we nor our service provider, Afterpay, make any representations on this subject matter.

For online purchases:

1. the pre-authorization amount will not exceed your first Installment Payment (plus one cent) owed to us for that purchase; and
2. we immediately instruct your bank to void this pre-authorization transaction.

For in-store purchases:

1. the pre-authorization amount will not exceed 25% of the value of the authorization (plus one cent); and
2. where an authorization is obtained but there is no completed purchase, we instruct the bank to void the pre-authorization transaction.

No funds are received by us or our service provider, Afterpay, during the pre-authorization process.

1. Merchandise Refunds and Other Adjustments Subsequent to Disbursement of Funds

Processing refunds and any merchandise exchanges or modifications are subject to the discretion of the merchant to whom you directed us to disburse funds under this Agreement. Neither we nor our service provider, Afterpay, are able to override merchant return, refund and exchange policies. If you decide to return goods acquired using funds we have disbursed under this Agreement and request a refund, or a return and refund are otherwise accepted or permitted by law, you will remain obligated to make all payments still outstanding under this Agreement when due. However, for any amounts that a merchant returns directly to us in connection with such returned or exchanged merchandise, we shall retain such amounts and reflect an equivalent credit to reduce your outstanding obligation to us under this Agreement or, where applicable, refund to you any amounts already paid. In the event of a partial refund, the credit will be applied against your last payment first. If, for any reason, we are unable to apply a refund to the order to which it corresponds, we may in our discretion apply the refund to any method of payment you have on file with us. You will remain obligated to make payments still outstanding when due.

1. Transfers or Assignments

We may transfer, assign or sell this Agreement, and any rights under this Agreement, to a third party without your consent. You agree that we may appoint third party collections agencies to collect any amounts owing to us under this Agreement without your consent. As permitted by law, you hereby waive demand, notice of non-payment, protest and all other notices or demands whatsoever, and hereby consent that without notice to and without releasing the liability of any party, the obligations evidenced by this Agreement may from time to time, in whole or part, be renewed, extended, modified, accelerated, compromised, settled, canceled or released by us.

1. Express Written Consent to Receive Short Message Service (“SMS”) Communications & Email Communications and Marketing
2. Notwithstanding any current or prior election to opt in or opt out of receiving telemarketing calls or SMS messages (including text messages) from us, our agents, representatives, affiliates, or anyone calling on our behalf, you expressly consent to be contacted by us, our agents, representatives, affiliates, or anyone calling on our behalf for any and all purposes arising out of or relating to this Agreement, at any telephone number, or physical or electronic address you provide or at which you may be reached. You agree we may contact you in any way, including SMS and text messages, calls using prerecorded messages or artificial voice, and calls and messages delivered using auto telephone dialing system or an automatic texting system. Automated messages may be played when the telephone is answered, whether by you or someone else. In the event that an agent or representative calls, he or she may also leave a message on your answering machine, voice mail, or send one via text. You also expressly consent to the receipt of electronic communications in connection from the merchant, our service provider, Afterpay, or any third party, including TrueAccord Corp., that is engaged by our service provider, Afterpay, to collect any amount owed under this Agreement.
3. You consent to receive SMS and text messages, calls and messages (including prerecorded and artificial voice and autodialed) from us, our agents, representatives, affiliates or anyone calling on our behalf at the specific number(s) you have provided to us, or numbers we can reasonably associate with your account (through skip trace, caller ID capture or other means), with information or questions about your application, this Agreement and/or your account. You certify, warrant and represent that the telephone numbers that you have provided to us are your contact numbers. You represent that you are permitted to receive calls at each of the telephone numbers you have provided to us. You agree to promptly alert us whenever you stop using a particular telephone number.
4. By signing this Agreement, you are providing express written consent to receive SMS and text messages to each telephone number provided by you to us regarding this Agreement and your Afterpay Plus Card Account You agree that you are responsible for any message, data rates or fees that your telephone service provider charges in relation to SMS messages sent and received by you. If you have any questions regarding those rates, please contact your wireless carrier.
5. If you wish to withdraw your consent to have communications provided via SMS, you may opt-out of receiving SMS from us at any time by emailing us at [email protected]. Upon receipt of your message, we will process the request and it will be effective only after we have a reasonable period of time to process your request. If you fail to provide or if you withdraw your consent to receive SMS communications as set forth in this section, we reserve the right to restrict, deactivate or close your Afterpay Plus Card Account and you agree that you may be prevented from using certain features of your Afterpay Plus Card Account.
6. You agree that we may send you marketing communications to the email address you have provided including but not limited to targeted offers, introduction of new features, or other special announcements. You may opt out of these marketing communications at any time by using the “unsubscribe” link within a marketing email.
7. Miscellaneous

This Agreement is effective until all amounts due under the Agreement are paid in full or otherwise cancelled or refunded. If any provision of this Agreement (or any portion thereof) is determined to be invalid or unenforceable, the remaining provisions of this Agreement shall not be affected thereby and shall be binding upon the parties and shall be enforceable, as though said invalid or unenforceable provision (or portion thereof) were not contained in this Agreement. This Agreement, including all documents incorporated by reference, constitutes and contains the entire agreement between you and us with respect to the subject matter hereof and supersede any prior or contemporaneous oral or written agreements.

1. Electronic Transactions

THIS AGREEMENT IS FULLY SUBJECT TO YOUR CONSENT TO ELECTRONIC TRANSACTIONS AND DISCLOSURES PREVIOUSLY PROVIDED.

1. State Specific Disclosures

For Florida customers:

Florida documentary stamp tax required by law in the amount of $[VARIABLE FIELD] has been paid or will be paid directly to the Department of Revenue. Certificate of Registration No. 78-8018194724-3.

For Maryland customers:

This loan is made pursuant to the Credit Grantor Closed-end Credit Provisions of Title 12, Subtitle 1 of the Maryland Commercial Law Article (Md. Code Ann., Com. Law § 12-1001 et seq.).

For North Dakota customers:

NOTICE: MONEY BROKERS ARE LICENSED AND REGULATED BY THE DEPARTMENT OF FINANCIAL INSTITUTIONS, 2000 SCHAFER STREET, SUITE G, BISMARCK, NORTH DAKOTA 58501-1204. THE DEPARTMENT OF FINANCIAL INSTITUTIONS HAS NOT PASSED ON THE MERITS OF THE CONTRACT AND LICENSING DOES NOT CONSTITUTE AN APPROVAL OF THE TERMS OR OF THE BROKER’S ABILITY TO ARRANGE ANY LOAN. COMPLAINTS REGARDING THE SERVICES OF MONEY BROKERS SHOULD BE DIRECTED TO THE DEPARTMENT OF FINANCIAL INSTITUTIONS.

For Oklahoma customers:

You should refer to the relevant sections of this Agreement for information about nonpayment, default, the right to accelerate the maturity of this Agreement, prepayment and penalties.

For South Dakota customers:

If there are any improprieties in the making of this loan or in any loan practices, please refer to the South Dakota Division of Banking: South Dakota Division of Banking 1714 Lincoln Avenue, Suite 2, Pierre, South Dakota 57501; (605) 773-3421.

NOTE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER.

Agreed: [Name]

Installment Payment Authorization

You authorize us (Afterpay) to charge your Payment Method for the down payment on the date your Final Payment Schedule is provided to you (this may be immediately at the time of purchase).

The amount of the down payment will be based on your final purchase amount confirmed by the merchant, as described in the Installment Agreement.

You also authorize us to charge your Payment Method in the amounts and on the payment dates in your Remaining Payment Schedule (as identified and provided to you in your Installment Agreement, as it may be superseded by the Final Payment Schedule delivered to you as a supplement to the Installment Agreement), to collect any recurring amounts due, and to correct any erroneous transactions. If we are unable to collect any payment because your Payment Method fails or you have any amounts due under this Agreement for any other reason, you authorize us to charge your Payment Method (or any other debit or credit card you provide to Afterpay) for any amounts due, at any time prior to or within 28 days after the Maturity Date identified on your last Remaining Payment Schedule. You understand and agree that this may result in multiple charges to any credit or debit card you provide to Afterpay to collect the amounts due under this Agreement.

You also authorize us to debit or credit your Payment Method as we deem necessary to correct any erroneous transactions.

You also authorize us to elect combine multiple payments owed on your Afterpay account into a single payment if those payments are due on the same day. If you have insufficient funds for the combined single payment, Afterpay may collect those payments separately.

You are responsible for all fees charged by your financial institution associated with the payments. You must update your Afterpay account with all changes to your debit/credit card information. If you do not update this information and we are unable to charge your Payment Method for an amount due, you will may be subject to late fees and you may be charged fees by your financial institution.

By accepting this agreement, you authorize Afterpay to charge the Payment Method you selected at checkout or in the customer portal. You are responsible for ensuring that you have sufficient funds available to make Installment Payments on the dates specified in your Final Payment Schedule.

Electronic Fund Transfers

If your select payment method is covered under the rules for electronic fund transfers the following terms also apply.

If you select a bank account as your payment method and we are unable to collect any payment because your payment method is declined, we will not reattempt to collect the payment from your checking account. Please note that your financial or banking institution may charge you a fee for a returned or unsuccessful payment. We will not be held responsible for any fees assessed by your financial or banking institution for returned or unsuccessful payment agreement payments.

You may revoke this authorization at any time by contacting our Customer Service center at https://help.afterpay.com. Any notice of revocation must be received at least three (3) business days prior to the next scheduled payment due date to avoid the next scheduled payment from being automatically debited from your account. If you revoke this authorization, you understand that you will be responsible for making your payments by another payment method.

You have the right to receive advance notice if any payment we seek will vary from the amount authorized above or from the prior payment in this authorization. We will notify you of such changes via email at least ten (10) business days before the varying payment is due.