Common use of Acquiring Services Clause in Contracts

Acquiring Services. opening an Account 2.1. If you are engaging us (or a Partner, as applicable) to provide Acquiring Services, when you apply for a Judopay Account we will ask you to provide some information about your business as part of our KYC process. This is a compliance requirement imposed by the Card Schemes, Government Regulations, and our regulated Partners. The information you will be asked to provide includes, but is not limited to, your legal business name, your company trading name, your address, your website URL, the nature of your business activity and a description of the Purpose. 2.2. You will provide on the first request from Judopay and within five (5) Business Days any documentation or information related to the KYC process. 2.3. We may also request personal information from your ultimate beneficial owners (i.e. those holding 25% or more of the voting rights in your business), Authorised Signatories and directors including details like their full name, passport number, birth date, and residential address. You warrant and represent, unconditionally, that all information provided to us concerning your Application is correct, complete and up to date. 2.4. You will notify us in writing of any changes to the information supplied in accordance with the preceding clauses during the Term as soon as possible, and no later than ten (10) Business Days from the date of such change. We may suspend your Account if you fail to keep this information updated. 2.5. At any time during the Term, we may require additional information from you to verify the ownership of your business and validate the information you provided. Unless otherwise stated, you agree to provide this information within three Business Days of receipt of a request from us. 2.6. You acknowledge that, in some cases, such changes in information may lead to a rejection of your Account (by us or our Partners) and thus a suspension or termination of your Account with us. 2.7. Judopay’s acceptance of your Application will be subject to final approval from our Partners. For the avoidance of doubt, Judopay shall not be liable to you, under any circumstances, if your Application is rejected by us or any of our Partners. 2.8. Judopay will inform you about the acceptance of your Account at which point we will notify you of your Merchant Identification Number (MID) and we will be able to start providing you with the Services. 2.9. Judopay provides you with Payment Services through our Partners. You accept and acknowledge that the information submitted to Judopay about you will be shared with our Partners for the purpose of providing you with the Services. 2.10. You accept and acknowledge that you will need to enter into separate agreements with our Partners. Your refusal to enter into these agreements or comply with our Partner’s terms will prevent you from benefiting from and/or using our Services. 2.11. From time to time, Judopay may decide to change which partners provide merchant acquiring services to you. In the event this is required, you allow Judopay to make this change on your behalf with 30 days written notice. 2.12. Judopay reserves the right to reassess the terms of your Order Form should you fail to provide all of the KYC documents required by us. For the avoidance of doubt, the terms set out in the Order Form are expressly conditional on provision of the correct KYC documentation. Failure to provide the same will permit Judopay to terminate the Order Form immediately for cause.