Update June, 27th 2018

 

Framework Agreement for payment services

General conditions of use 

Preamble

The Holder shall read carefully the following Framework Agreement before accepting it.

Anytime operates, under the brand “Anytime”, as an agent appointed by TREEZOR to commercialize the Payment Services and the Card to the Users. 

 

The Framework Agreement is concluded between:

The Holder, appointed in the Specific Conditions, registered legal person or a natural person living in a Member State of the European Union or in a State of the European Economic Union acting on its behalf for non-professional purposes.

Hereinafter named the “Holder” or the “Accountholder” and,

Treezor, simplified joint-stock Company, registered in the Nanterre Trade and Companies Register under the number 489 395 111 R.C.S., whose head office is located 41 rue de Prony, 75017, PARIS, acting as an electronic money institution in accordance with article L. .525-1 of the Monetary and Financial Code and supervised by the French Prudential Control and Resolution Authority (“ACPR”), sise 61 rue de Taitbout, 75436 PARIS CEDEX 09, as an electronic money institution under the number 16798,

Hereinafter named the “Institution” or “Treezor”, which can be represented by the Partner.

Together named the “Parties”.

 

1.    CONTRACTUAL DOCUMENTS

The Framework Agreement is composed of these General Conditions of Use and of its Annexes:

• Annex 1 : Withdrawal slip
• Annex 2 : Pricing and Specific Condition
• Annex 3 : General conditions of use of the Treezor Card
• Annex 4 : Power of attorney

 

2.     PURPOSE OF THE AGREEMENT AND DESCRIPTION OF THE SERVICES

The purpose of the Agreement is to set out the conditions of use of the Payment Services provided by Treezor, in return for payment of fees by the Holder as specified in article 4. It set out the opening, functioning and closing conditions of the Payment Account.

Any eligible prospect can submit, via the Website, a Payment Account opening application used for the execution of Payment Transactions. If the application is accepted in accordance with article 5, the client becomes Holder of a Payment Account which functionalities can only be used online. 

The Institution provides to the Holder the execution of the following Payment Transactions (the “Payment Services”):

• Credit of the Payment Account by acquisition of a Payment Order by card ;
• Credit of the Payment Account by acquisition of Payment Order by credit transfer;
• Credit of the Payment Account by acquisition of a direct debit Payment order;
• Debit of the Payment Account following the execution of a credit transfer order;
• Debit of the Payment Account following the execution of a direct debit order;

 

The Services are provided in return for payment of fees as specified in the article 4. The Institution does not accept cash transactions, check deposit and does not offer any payment services other than those specifically described in this Framework Agreement.

The Framework Agreement is accepted online by the Holder. The language used to write the contractual documents and the subsequent communications between the Parties are in French. The Holder may ask at any time and free of charge a copy of the Framework Agreement.

 

3.    DÉFINITIONS

 

Card	Card requiring systematic authorisation, issued in the name of the Holder associated with a Card Account.
Card Account	Electronic money account opened in the name of the Holder to whom is associated the Card.
Cardholder	Natural person mandated by the Holder to be able to use a professional Card within its professional activity, acting for and on behalf of the Holder. The Cardholder is a corporate officer, an employee or a proxy of the Holder who must give on demand evidence of its links with the Cardholder.
Framework Agreement	The Agreement stated herein concluded between the Holder and the Institution including these General conditions of use and its annexes, the General Conditions governing the Card (or the Cards), the completed forms and the Pricing Conditions.
Holder	Natural or legal person represented by a corporate officer, acting within its professional activity and having subscribed to the Framework Agreement.
Identifier	Sequence of characters used by the Holder to identify itself on the Website.
Partner	Company operating the Website and appointed as electronic money issuer and payment agent by the Institution, under the name Anytime.
Payment Account	Account held by an institution in the name of a Holder, used for executions of Payment Transactions.
Payment Order or Order	Instruction issued a) By the payer, who gives a payment order to its payment services provider;  b) By the payer, who gives a payment order through the Recipient who, after receiving the payer’s payment order, will transfer it to the payer’s payment services provider, if so, through its own payment services provider; c) By the Recipient, who gives a payment order to the payer’s payment services provider, based on the consent given by the payer to the Recipient and, if so, through its own payment services provider.
Payment Transaction or Transaction	Payment Order given by the payer or the Recipient, executed by the Institution and charged to the Payment Account.
Payment Services	Services defined in the 3rd and 5th of article L. 314-1. I of the Monetary and Financial Code provided by the Institution to the Holder according to the Framework Agreement.
Personal Data	Any personal information concerning a User, identified natural person or who can be identified, directly or indirectly, by reference to an identification number or to one or more elements unique to that person.
Pricing Conditions	Document attached as an Annex, updated regularly and which last version is available on the Website.
Profile	All the data linked to the Holder or to a User.
Recipient	Natural or legal person acting as beneficiary and creditor of a Payment Transaction. The Holder could be the Recipient.
The Recipient’s account holding Institution	Credit or payment institution authorised by an authority established in a Member State of the European Union, in a State of the European Economic Union or in a third country imposing corresponding obligations against money laundering and terrorist financing, in which the Recipient of a money transfer has opened a bank or payment account.
User	Natural Person appointed by the Holder and owning a Profile to connect to a dedicated environment on the Website and to consult the Payment Account and/or to give a Payment Order, within the rights given by the Holder as defined in the General conditions of use of the Website.
Website	Website www.Anytime.euand the mobile application « Anytime » operated by the Partner.
Working Day	A calendar day apart from Saturdays, Sundays and French public holidays during which the payment institutions and the concerned Banks perform their activities and usual functioning.

4.    PRICING ET COMPENSATION

In return for the performed Services, the Holder must pay the fees as agreed in the Pricing Conditions. It is expressly agreed that the revocation of a Payment Order and the provision of information will lead to the collection of additional fees.

The Holder expressly grants the Institution the right to charge the fees to be paid by the Holder, as agreed in the Framework Agreement by direct debit on his Payment account.

The Parties agree that their mutual debts resulting from the execution of the Framework Agreement will automatically be transformed into simple credit or debit items within the limit of the available provision on the Payment Account. After compensation, these debit and credit items form a net payable balance or a zero net balance of the Payment Account. Without the sufficient provision on the Account, the remaining amount due by the Holder after compensation is written on its Account statement as an outstanding debt.

Notwithstanding the above, the Parties agree to balance any cash and mutual due debt, resulting from the execution of the Framework Agreement or any other agreement. Hence, this due debt shall be balanced by Treezor with electronic money unit balance on the Account(s) of the Cardholder

The Institution may condition the authorisation and the execution of any Payment Transaction to the full payment of the amount due to the Institution by the Holder. Thus, the Institution may suspend the execution of the Payment Services or refuse a Payment Transaction, to affect the available provision to the prior payment of the outstanding debt of the Holder.

 

5.    OPENING OF A PAYMENT ACCOUNT

Before being able to submit a Payment Account opening application, the prospect confirms being in capacity and duly registered in a Member State of the European Union or in a State of the European Economic Area..

Any Payment Account opening application requires the input by the Holder of the required identification elements on the Website. The Holder allows the Website to transmit to the Institution the Personal Data needed to process the application. The Institution may ask for any additional document. 

The Holder must sign the present Framework Agreement. The Institution may, at its own discretion and without any explanation, refuse any Account opening application. This decision must not lead to monetary damages and must be notified by e-mail to the prospect. 

The prospect, legal person, who wishes to become a Payment Account Holder, shall give the following information:

• Last name,
• First name,
• Date of birth,
• Postal address,
• E-mail address and/or phone number,
• Career,
• Annual revenues,
• Civil situation,
• The proof of identity and address of the Cardholder, as well as those of the natural person responsibe in case the Cardholder is a minor.

 

The Holder may authorise the Partner to transmit in writing or on any durable medium its documents on its behalf to Treezor. 

Treezor reserves the right to ask for any additional documents or information to be able to verify any useful information in the in accordance with its legal obligations including those against money laundering.

The Institution implements complementary requirements according to article R. 561-20 of the Monetary and Financial Code. A third party will then carry out the verification and certification of the documents.

The Holder agrees that the Partner Website sends these documents to Treezor via Treezor’s computer systems or via regular mail.

If the Holder’s application is accepted by the Institution, the Holder will receive the confirmation of the opening of its Account via the Website by any means. The use of this Account requires setting up a personal security feature allowing the Holder to issue remote payment orders. For this purpose, every Holder has to create a Profile on the Website to identify itself through an Identifier, a confidential code and/or a one-time-use code when issuing an order according to this Framework Agreement.

Each Holder can only open one Payment Account and can only ask for one Card in his name. The Holder is, hence, auhtorised to ask for a Card attributed to a minor to whom he is legally responsible.

 

6.    FUNCTIONNING OF THE PAYMENT ACCOUNT

6.1.   Général Description 

The amounts credited on the Payment Account come from a Payment Order by credit transfer or debit to the account or from a refund of electronic money coming from a Card Account belonging to the Holder. The reversal of these orders is credited to the same Account.

The Payment Transactions debited from the Payment Account come from a Payment Order by credit transfer or debit to an account opened in the name of the Recipient appointed by the Account Holder or in the name of the Issuer to purchase electronic money units for the Card Account appointed by the Holder.

The fees due by the Holder under the Framework Agreement are charged by the Institution on its Payment Account.

6.2.   Credit transfers

6.2.1.   Credit transfer orders

The Holder identifies itself and enters its password, gives his transfer order from the Payment account, entering among other elements:

• The amount (which cannot be higher than the amount available on the Payment Account after the charge of the fees)
• The currency (if not specified, the currency will be euro)
• the Recipient (name and bank details)
• the date of the transfer
• the frequency (optional for standing orders)
• the object of the order

 

The procedures for the transmission of the Orders listed above have the same values as an electronic signature of the Holder allowing his identification and proving his consent.

The Holder acknowledges that such Orders transmitted via the Website are irrevocable orders given to the Institution to transfer the funds to the Recipient’s payment services provider, effective from their receipt by Treezor. The revocation of the order by the Holder can be accepted if received before its receipt for immediate transfers and 10 hours before the Working Day coming before the date of the execution for the delayed transfers.

Every transfer Orders is time stamped and kept for 10 years.

It is expressly agreed that the credit transfers will be executed before the end of the Working Day following the receipt for the immediate credit transfer and at the execution date for delayed standing or transfers. We offer a paying date D until 10:00 am, after this deadline the payment day will be D+1.

The Institution may have to refuse the execution of a credit transfer order in case of missing or incorrect information. The Holder will have to reedit the order to comply with this agreement. The Institution may also block a credit transfer Order in case of doubt concerning fraudulent use or non-authorised use of the Payment Account, in case of violation of the security of the Payment Account or in case of the freezing of the assets by an administrative authority.

6.2.1.  Acceptation of credit transfer Orders

The Holder expressly mandates the Insrtitution in order to receive the credit transfer Orders on his Account. In case of a denial of the credit transfer Order, the Website immediately produces an alert message specifying that the Order could not be authorised, and depending on the reason, suggesting to retry later or to contact the transfer issuing institution. As an example, an incomplete Order, a non-identified Holder, an incorrect Order or an Order request denied by the issuing institution can result in a denial.

Assuming that the direct debit Order is granted, the Holder receives a summary of the payment including the following information: amount, date and time of the Payment Transaction, name of the initiating User, the charged account and the Recipient.

The Institution receives the funds in the name of and on the behalf of the Holder and credits the Payment Account Holder before the end of the Working Day during which its own account has been credited with the funds.

6.3.   Direct Debits

6.3.1.  Inssuance of Direct Debit Orders

The Holder identifies itself and enters its password, gives a direct debit order from his Payment Account, entering among other elements:

• The amount;
• The currency (if not specified, the currency will be euro);
• The unique reference of the concerned SEPA direct debit mandate;
• The date of the debit that can be less than D+2 Working Days;
• The frequency;
• The purpose of the orde.

The procedures for the transmission of the Orders listed above have the same values as an electronic signature of the Holder allowing his identification and proving his consent.

The Holder acknowledges that such Orders transmitted via the Website are irrevocable orders given to the Institution to debit the funds as soon as Treezor receives the Orders. The revocation of the order by the Holder can be accepted if received before 10am the Working Day before the planned date of the transaction execution.

Every direct debit Orders is time stamped and kept for 10 years.

It is expressly agreed that the direct debit Orders will be executed before the end of the Working day following the receipt of the direct debit request.

The Institution may have to refuse the execution of a direct debit order in case of missing or wrong information. The Holder will have to reedit the order to comply with this Agreement. The Institution may also block a direct debit Order in case of doubt concerning fraudulent use or non-authorised use of the Payment Account, in case of violation of the security of the Payment Account or in case of the freezing of the assets by an administrative authority.

In case of a denial of the direct debit Order by the debited person, the Website immediately produces an alert message specifying that the Order could not be authorised, and depending on the reason, suggesting to retry later or to contact the direct debit issuer. As an example, an incomplete Order, a non-identified Holder, an incorrect Order or an Order request denied by the issuing institution can result in a denial.

Assuming that the direct debit Order is granted, the Holder receives a summary of the payment including the following information: amount, date and time, number of the Transaction name of the initiating User, the charged account and the Recipient.

6.3.2.  Management of direct debit mandates

In the framework of national direct debit, the debtor expresses his will to be debited through a debit request, which is kept by the creditor (the Holder). The proof of the debtor’s consent, embodied by the debit authorisation, is kept by the Institution.

The SEPA introduces new rules for the collection and the management of the debtor’s consent by unifying the request and the debit authorisation in a unique document: the mandate.

The Holder must have the mandate signed by the debtor into an electronic format through the Website.

The Holder undertakes to keep the direct debit mandates list up to date and to take immediately into account any request for mandate revocation that he becomes aware.

Even though the form of the mandate is free, some statements must appear:

• The title: « SEPA direct debit Mandate »;
• The statement notifying the debtor of his commitment and his rights;
• The Unique Reference of the Mandate (RUM);
• The name, the corporate name or the trade name of the creditor;
• The Creditor SEPA Identifier (ICS);
• The full address of the creditor;
• The type of the direct debit: occasional or regular;
• The name or the corporate name of the debtor;
• The full address of the debtor;
• The debtor’s bank details;
• The place and the date of the signature.

 

Optional data can be added to the mandate:

• The creditor’s logo;
• The debtor’s Identifier code which he wishes to be given back by his bank (to be added in agreement with the creditor);
• The debtor’s Identifier and the third debtor’s name (if the debtor pays on behalf of another party);
• The third creditor’s identifier and name (the creditor must fill this information if he presents SEPA direct debits on behalf of another party);
• The Identifier of the agreement and its description.

 

When the mandate concerns a regular direct debit, it becomes obsolete after thirty-six (36) months without direct debit issuance. No direct debit issuance can be performed anymore under this mandate.

A SEPA direct debit mandate is subject to an identification via a unique reference freely assigned by the creditor: the Unique Reference of the Mandate or “RUM”.

This reference contains at most 35 characters. Coupled with the ICS, it ensures the unique identification of the agreement concluded between creditor and debtor.

It must be given to the debtor before the inssuance of SEPA direct debits mandate.

A creditor can choose to sign one or more mandates to a same debtor depending on the number of agreements he concluded with him.

6.3.3.   Acceptation of direct debit Orders

The Holder expressly mandates the Institution in order to transfer from his Account the direct debit Orders it received. The Institution commits to notify the Holder of any reception of a direct debit Order related to him. Once notified, the Holder can inform the Institution of his refusal of the direct debit Order execution. This refusal can be notified until 10:00 am on the day of the Order execution.

In case of insufficient funds on the Holder’s account, the Holder receives a notification indicating he shall transfer funds to his Account. If the funds are insufficient on the day of the execution, the Institution will deny the Order.

In case of a denial of the direct debit Order, the Website immediately produces an alert message specifying that the Order could not be authorised, and depending on the reason, suggesting to retry later or to contact the direct debit issuer. For instance, an incomplete Order, a non-identified Holder, an incorrect Order or an Order request denied by the issuer can result in a denial.

Assuming that the direct debit Order is granted, the Holder receives a summary of the payment including the following information: amount, date and time, number of the Transaction, name of the initiating User, the charged account and the Recipient.

The Institution receives the funds in the name of and on the behalf of the Holder and credits the Holder Payment account before the end of the Working Day during which its own account have been credited with the funds.

6.4.    Reporting

A statement of the Transactions linked to the Payment account is available for the Holder on the Website to ease the monitoring of the Account.

The Holder must give its exact address on the Website or any subsequent change. Should any information be missing or be incorrect, the Institution will not be held responsible of the prejudicial consequences for the Holder.

It is recommended to the Holder to keep the Account statement in case of dispute and to systematically check the contempt of the account statement. For any complaint, the Holder shall comply with article 7.

A fees summary statement will be available on a monthly basis on the Website. Only this statement will be taken as proof between the Parties.

The Holder will be able to obtain, free of charge, these monthly statements upon the written request to the commercial service during the last twelve (12) months. The Holder must communicate on the Website his exact address as well as any subsequent changes. Without this information or in case of incorrect information, the Establishment will not be held liable for any prejudice for the Holder.

A recap statement of the fees will be sent annually to the Holder, unless the Holder expressly requests it to be made available on the Website.

All the monthly statements and annual recaps are archived on a durable medium during a period of ten (10) years. The Holder who wishes to receive a copy of these documents prior to twelve (12) months must request it to the commercial service. This service may be subject to fees in accordance with the Pricing Conditions.

The access conditions to the Payment Account are defined by the Partner in the General conditions of use of the Website.

 

7.    CONTESTATION OF A PAYMENT TRANSACTION

The Holder that wishes to contest a defectively executed Payment transaction by the Institution shall contact the Customer Service as soon as he notices the anomaly and at the latest, thirteen (13) months following the execution of the Payment Transaction on the Account. Without any contest during this delay, the Payment Transactions are considered to be definitely approved by the Holder unless proven otherwise by the Holder. The Holder who wishes to contest a Payment Transaction shall contact the Customer Service.

If a Payment Transaction is incorrectly performed due to the Institution’s mistake, it belongs to the Holder to prove that it has been incorrectly performed by the Institution, within the above-mentioned delay. If this should happen, the Payment Account is restored to its situation before the Order in question. Thereafter, the Payment Order is correctly performed.

In case of contest by the Holder within the thirteen (13) months following the debit of the Payment Account following a a non-authorised Payment Transaction, it belongs to the Institution to prove that this Transaction has been authorised under the conditions of the Framework Agreement. In the absence of such evidence, the Institution will cancel the Transaction and refund the Payment Account with a temporary credit as if the Transaction had never been performed. After investigating the validity of the contest, the Institution will adjust the Account in accordance with the following:

-                In case of non-authorised Payment Transactions caused by the loss or the theft of the Card or by the personal security feature associated with a payment instrument (Card or direct debit), the Holder bears the loss linked to the use of the personal security feature of this instrument occurring before blocking it as described in article 8, with a maximum of 50 euros;

-                In case of non-authorised Payment Transactions performed thanks to diversion of the payment instrument (Card or direct debit) or the data related to it, without the knowledge and consent of the Holder, the Holder is not responsible for the resulting loss; 

-                In case of non-authorised Payment Transactions caused by the use of the counterfeit payment instrument (Card or direct debit), the Holder is not held responsible if he still is in possession of the instrument.

However, the Institution must not be held responsible for any loss caused by non-authorised Payment Transactions in case of force majeure, in case of fraudulent acts of the Holder, or in case of serious mistakes such as a wilful default or a default causing a serious negligence of his obligations (such as a late transmission of the request to block the payment instrument). 

The Holder may submit a refund application to the Institution for a Payment Transaction given through the Recipient and authorised by the Holder without specifying the exact amount or if the transaction concerns a higher amount than the one that it could reasonably expect. This application must be completed within the eight (8) weeks following the date on which the Payment Account was debited and concerns the entire Transaction. No partial refund application can be dealt by the Institution. The Holder must provide all the elements concerning this application. The Institution evaluates the legitimacy of the application according to these elements, to the Profile of the Holder’s previous expenses, to the conditions of the Framework Agreement and to the circumstances of the Transaction. It notifies its acceptation or refusal of the refund within the ten (10) days following the receipt of the application.

The claims dealing with the price of the goods or services bought are not acceptable. Only those concerning a Payment Transaction are concerned under this article. The Institution stays away from any trade dispute that could occur between the Holder and the beneficiary or the payer, depending on the case. The existence of such a dispute cannot justify the Holder’s refusal of the execution of a Payment Transaction.

A good or service paid by any means of payment made available for the Holder by the Institution may only constitutes the purpose of a refund application to the beneficiary if a prior transaction of an amount equal to or higher has been executed. Only the beneficiary may ask for this application. If the Holder and the beneficiary reach an agreement, the latter may initiate the refund on the Payment Account used for the initial payment. No cash reimbursement can be accepted in this case. Furthermore, this option is not given to every beneficiary.The reimbursement decision and terms fully belong to them.

 

8.     OPPOSITION AGAINST PERSONALISED SECURITY FEATURES AND FREEZING OF THE ACCOUNT

The Holder commits to keep secret the confidential code or any other code used to access its Account. In case of non-authorised use of the Account by a third party, the Holder bears the loss caused by his fraudulent acts, or caused by a wilful default or a default causing a serious negligence of its obligations under this Framework Agreement.

As soon as the Holder notifies a theft or a loss of his data, it must ask to freeze his account as soon as possible. The declaration of the fraudulent use of the Account or of the loss must be completed by mail at the Customer Service. These declarations must be confirmed by registered letter with acknowledgement of receipt sent to the Customer Service. The Holder is informed that any wrong declaration under this Agreement is liable to punishment as prescribed by law.

A registration number of the freezing of the Account is given to the Holder through the Website. He must keep it for eighteen (18) months. Upon written request by the Holder and before the expiry of this period, the Website will provide a copy of this freezing.

The request to freeze the Account is taken into account immediately by the Institution that proceeds to the freezing of the Account.

The Institution must not be held responsible for the consequences of the request that would not come from the Holder. The request is registered on the date of the receipt of the request by the Establishment or any other person mandated for this purpose. In case of theft or fraudulent use, the Institution may ask a receipt or a copy of the complaint to the Holder who commits to answer it as soon as possible.

Furthermore, the Institution may freeze the use of this Account on its own initiative for any reason linked to its security or in case of suspicion of a non-authorised use or a fraudulent use. This decision is reasoned and notified to the Holder by any means. When a Payment Account receives a significantly large number of reimbursements or cancelations of orders or contests for non-authorised orders, the Institution may freeze the Account. 

 

9.    THRESHOLDS

The Institution will fix the maximum thresholds for the Holder’s Payment Account for any Payment Transaction. These thresholds will be given to the Holder on its Profile and can be modified at any time by the Institution within a one (1) month notice. However, the Institution may set them to zero, at any time and without notice, in case of fraud or outstanding amount. The Institution must not be held responsible for the damages it could cause to the Holder following the refusal of an authorisation for a Payment Transaction under the following article. 

The Holder can consult the ceilings amount on its Profile. They will be defined by Transaction or per period (per day, per week, per month and per year).

The Holder is informed that the Institution will automatically refuse any Payment Transaction exceeding one of these thresholds. To submit an authorisation request for such Transaction, the Holder shall contact the Customer Service.

10.  DURATION AND TERMINATION

10.1.  Terms

The Framework Agreement shall be of unlimited duration after its acceptance from the Parties. The Framework Agreement may be signed online. The Parties acknowledge that this signature will have the same value as a handwritten signature.

The Holder may ask for the termination of this Agreement at any time. This request must be formalised by registered letter with acknowledgement of receipt and will take effect after a one (1) month notice starting from the receipt of the letter by the other party (“Effective Date”). The Holder must maintain sufficient funds to ensure a successful completion of the ongoing Payment Transactions within the delay needed for their execution and to pay the fees due by it.

The Establishment can terminate this Agreement with a two (2) months notice. The fees related to the provision of the Payment Services are only owed to the Holder proportionnaly up to the termination of this Agreement. If these fees were paid in advance, they will be refunded proportionnaly.

In case of serious default from one of the Parties, the Framework Agreement may be terminated with immediate effect by registered letter with acknowledgement of receipt sent to the other Party. The resolution will take effect starting from the receipt of the letter (“Effective Date”). Serious default may be: a communication of false information, illegal activities or contrary to morality, suspicion of money laundering or suspicion of terrorist financing, threat against agents of the Institution, payment default, disrespect of any obligation mentioned under this Agreement, excessive debt, closing of his Profile, on the Holder’s side. On the Institution’s side, serious default may be: communication of false information, disrespect of any obligation mentioned under this Agreement, appointment of an ad hoc agent or a receiver, opening of an administration or compulsory liquidation proceedings.

In case of the modification of the applicable regulation and of the interpretation given of it by the Regulatory authority concerned, preventing the Institution or its agents from providing the Payment Services, the Framework Agreement will automatically be terminated by registered letter with acknowledgement of receipt. The termination will be effective from the receipt of this letter (“Effective Date”).

At any time, the Partner may notify to the Holder the name of a successor of the Institution in order to provide any equivalent services defined in this Agreement. Under these circumstances, the Framework Agreement will be subject to a termination and the Holder will have to conclude a new agreement with the appointed successor. The Holder must, then, confirm by written note to Treezor the transfer of the funds belonging to him which the amount and date will be notified to it. The resolution will take effect starting from the receipt by Treezor of this confirmation from the Holder (“Effective Date”).

In case of the appointment of an ad hoc agent, backup procedure, receivership or judicial liquidation procedure, Treezor may notify by registered letter with acknowledgement of receipt the termination of the Framework Agreement to the agent or to the liquidator, effective from the receipt, subject to the applicable laws (“Effective Date”).

10.2. Effect of the resolution

The Account will be closed at the Effective date of the termination, provided that all the due amounts have been paid by the Holder according to the Framework Agreement. This termination of the Framework Agreement does not affect the services performed or being performed prior to the Effective Date. The Holder will not be able to transmit Order and to initiate Payment Transactions anymore, starting from the Effective Date. The Account may be maintained for fifteen (15) months in order to deal with any subsequent contest or claim. The outstanding Payment Transactions ordered before the Effective Date of the termination will not be affected by the request for termination and will be performed under the terms of the Framework Agreement.

The closing of the Payment Account automatically implies the closing of the Card Account(s). The amounts on these Accounts will be redeemed beforehand on the Payment Account.

 

11.  COMMITMENTS OF THE HOLDER

Once the Holder creates an Account, he undertakes to comply with all the provisions of the Framework Agreement.

The Holder ensures that the information on his Profile, as well as the information about every User and every Cardholder are true and accurate on the day of the Account opening request and undertakes to update them as soon as possible throughout the duration of the Framework Agreement. If the Institution has not been informed, it will not be held responsible for any damages caused by the inaccuracy or the change in this information. The Institution reserves the right to suspend the Framework Agreement until the documents have been provided or to proceed to its termination according to article 10.

The Holder undertakes not to perform or promote the exercise of activities penalized by law such as jeopardizing minors, paedophile acts, counterfeiting works protected by an intellectual property right, the non-compliance with the provisions regarding the protection of Personal data, violation of automatic data processing systems, money-laundering, the non-compliance with the provisions related to games of chance, horse races, lottery and with the provisions related to the practice of regulated professions. 

 

12.   CONVENTION OF PROOF AND TELEPHONE RECORDING

The Parties acknowledge that the Orders transmitted as set out above and registered by the Institution are deemed to be authorised by the Holder (whether they have been given by him, by a User or a Cardholder) and duly authenticated. The proof of this authentication may be constituted by the reproduction on a digital medium of the use of the dedicated technical mean by the Website to the Holder.

The Holder is informed that the telephone conversations with the Institution personnel may be recorded by it or by any company appointed to do so, in order to improve the quality of Payment Services.

 

13.  MODIFICATION

Treezor reserves the right to modify the Framework Agreement at any time. Any draft amendment is communicated to the Holder before the effective date of its entry into force, with a two (2) months notice as of the notification of the online update of the new applicable conditions.

Without any written contest by registered letter with acknowledgment of receipt sent to the Institution by the Holder before the expiry of this period, the Holder is deemed to have accepted these modifications. In case of refusal of the modification within the given time, the Holder can terminate on written notice the Framework Agreement, free of charge, before the suggested date of entry into force of this modification. This request does not concern the debits (fees, contributions, payment) due by him.

 

14.  MISCELLANOUS

14.1.  Death

After receiving the information of the Holder’s death (only relevant in respect of a natural person) the Payment Account is immediately frozen until the end of the estate liquidation operations in accordance with applicable law. The Institution will reimburse the amounts standing to the credit of the Account after the conclusion of the occurring Transactions and the payment of the fees.

However, any Transaction performed by the Holder until the date of its death implying a payment will be executed.

14.2.  Inactive account

A Payment Account is deemed inactive in the following cases:

• No Payment Transaction, apart from interests and debits registered by the Institution and apart from any commission, has been performed through the Payment Account for twelve (12) months during which the Account Holder, its legal representative or a person authorised by him, has not manifested itself, in whatever form, to the Institution.
• After twelve (12) months following the death of the Holder.

The Holder and any entitled person are informed by this article of the consequences of such behaviour.

The assets registered on the inactive Payment Account are deposited at the Caisse des dépôts and consignationafter ten (10) years as of the last Payment Transaction, apart from the registration of the debits by the Institution and apart from any commission.

14.1.  Power of Attorney

The Holder represented by a corporate officer may give another person (as a corporate officer) the power to give Payment Orders on the Payment Account and under its full responsibility, under the provisions defined in the power of attorney. The form is given online on demand and must be sent back to the Institution either via the Website with the Holder’s electronic signature or by letter with its handwritten signature. The power of attorney will take effect as of the receipt of the filled form by the Institution and provided that the Institution accepts it. This will be notified by any means. It automatically ceases after the Holder’s or the Holder’s proxy death. The Holder can revoke it by informing the agent and the Institution by registered letter with acknowledge of receipt or by the signature of a form available online. The termination takes effect as of the date of receipt of this revocation by the Institution. The Holder remains responsible for the Payment Transaction performed on its behalf by the appointed agent until this date.

The Holder releases the Institution from the professional secrecy concerning the data of the Payment Account towards the agent appointed by the proxy.

 

15.  RIGHT OF WITHDRAWAL

The Holder corresponding to the definition of article D. 341-1 of the Monetary and financial Code, approached by Treezor or its agent, has fourteen (14) calendar days withdrawal period to exercise its right of withdrawal, without having to justify such a choice. He will not bear penalties by exercising its right of withdrawal. The delay starts either on the day the Framework Agreement is concluded or the day the approached person receives the contractual conditions and the information if this date is after the date the agreement was concluded. The Holder that wishes to exercise its right of withdrawal shall send its written request (“Withdrawal form”, available below) by registered letter with acknowledgment of receipt at the address available on the Website. 

Unless there is express approval from the client, the Agreement can only be executed once the withdrawal period has expired. Despite the early execution of the Agreement before the end of the withdrawal period, the client will be able to terminate the Agreement in accordance with the the conditions above-mentioned after the reimbursement of the due sums.

Treezor cannot raise money from the approached Holder before the expiry of forty-eight (48) hours of reflection time starting the day after the delivery of the withdrawal form, which gives the Holder the information about the solicitation. The beginning of the execution of the Framework Agreement will start upon express request from the Holder.

 

16.  PERSONAL DATA AND PROFESSIONAL SECRECY

16.1.  Professional secrecy

According to the provisions of article L. 526-35 of the Monetary and Financial Code, the Institution is bound by professional secrecy. However, this secrecy obligation may be waived, in accordance with current legislation, under regulatory and prudential legal obligations including the request from the supervisory authorities, from the custom and tax administration, or from the penal judge established by article L. 562-4 of the Monetary and Financial Code or in case of judicial requisition notified to the Institution.  Notwithstanding the above, the Holder has the ability to waive the Institution its obligation of professional secrecy by notifying it in writing the list of the third Parties allowed to receive confidential information about the Holder. The professional secrecy is legally waived with the regulation for the benefit or companies providing important operational tasks to the Institution under the Framework Agreement

The individuals receiving information protected by professional secrecy, provided for the needs of one of the Transaction and Payment Services mentioned above, must keep it confidential, whether the Transactios and Services succeeded or not. However, assuming that the Transactions and Services succeed, these individuals may also provide the information, protected by professional secrecy, in accordance with the provisions referred to in this article to the individuals with whom they negotiate, conclude or perform the above-mentioned Transactions and Services.

16.1.  Personal data

The Holder, the Cardholder, the User or any other agent appointed by the Holder (“the Concerned individuals”) is the only one responsible for the data he communicates to the Institution and ensures that the provided data are complete and accurate. 

The information and data related to the Concerned Individuals are needed in particular to open the Account and to manage the Payment Services. The information and personal data are also kept, in order to comply with the legal and regulatory security obligations, during five (5) years following the closing of the Account for the information collected to fight against money laundering and terrorist financing.

These data may also be used in order to improve and customise the services provided by the Institution and the information sent to it. Furthermore, the Concerned Individuals grant the Institution the right to communicate any useful information about them to external companies for the performance of the services outsourced, by agreeing to this Framework Agreement.

In accordance with the law N° 78-17 of January 6, 1978 amended by the law n°2004-801 of August 6^th2004, any natural person has the right of correction and opposition to the personal data relating to them. This person only needs to contact the Customer Service  and specifies their family name, name, mail address and references (phone number, e-mail registered for the Account). In accordance with the current regulation, the applicant’s letter must be signed and a copy of a piece of signed personal identification must be joined and the address for reply must be indicated. An answer will be given within two (2) months following the receipt of the application.

 

17.   FIGHT AGAINST MONEY LAUNDERING AND TERRORIST FINANCING

According to the enforcement of the measures of articles L. 561-2 and following of the Monetary and Financial Code concerning the participation of financial institutions to money laundering and terrorist financing, the Institution must ask to the Holder information about any transaction or business relationship initiated in the conditions of articles L. 561-2 and following of the Monetary and Financial Code, such as the origin, the purpose and the destination of the Payment Transaction or of the Account opening. It must also perform all the necessary diligences to identify the Holder and if appropriate to identify the actual Recipient. The Holder commits to perform every diligence to allow the Institution to carry out a thorough review of the Payment Transaction, to inform it of any specific transaction and to provide any required document or information.

The Holder acknowledges that the Institution may have to set up surveillance system to fight against money laundering and terrorist financing. 

The Holder acknowledges that the Institution may end or report an account opening or a Payment Transaction at any time, if not enough elements about its purpose or nature are provided. The Holder is informed that a Payment Transaction performed under the Framework Agreement may be subject to the right of the communication of the national financing intelligence unit.

The Holder may have access to all the communicated information provided that this right of access is not against the fight against money laundering and terrorist financing when the data concerned the Holder and held in accordance with articles L. 621-8, L. 621-9 and L. 621-10 of the Monetary and Financing Code.

No prosecution based on the articles 226-13 and 226-14 of the Penal Code, and no action with civil responsibility shall be performed neither any professional sanction shall be pronounced against the Institution, its leaders or its agents or any other person referred in article L. 562-1 of the Monetary and Financing Code who made with good faith the declarations mentioned in articles L. 561-22 of the same code.

                                                                                                                                 

18.  FORCE MAJEURE

The Parties will not be held responsible or considered as having failed under the present terms and conditions, for any delay or non-performance, when caused by a force majeure as defined in article 1218 of the Civil Code.

These conditions stand for the entire agreement between the Parties and replace any previous agreement or declaration, written or oral, related to their object.

 

19.  COMMUNICATION

The language used during the pre-contractual and contractual relations is French.

Any notification concerning this Framework Agreement should be given (and would be deemed to have been received at the date of receipt) by recommended letter with receipt notice or in person at the following address:

Treezor SAS

Service juridique

41 rue de Prony

75017 PARIS

And by e-mail: legal@treezor.com

Or via the Customer service of the Website whose address is specified in the legal notices.

 

20.  MEDIATION

For any claims regarding the Account or the Payment Service provided, the Holder must first imperatively contact the customer service of the Institution.

If the Holder and the Institution do not succeed in resolving the issue, the Holder is informed of the possibility to address the service of the AFEPAME’s Mediator at the following address: 36 rue de Taitbout 75009 Paris. This procedure is free of charge for the Holder.

The Mediator must rule within a period of two (2) months starting from the receipt of the request.

If the Mediator’s decision does not satisfy the Holder and the Institution, the competent jurisdiction will be the one stated in article 23.

 

21.  PROTECTION OF THE FUNDS

The Holder is aware that the funds credited on the Account are protected according to article L. 522-17 I. of the Monetary and Financial Code and are registered with a safeguarding account opened in the conditions required by the regulation. They are hence protected against any claim of other creditors of the Institution, included the case of enforcement or insolvency procedures initiated against the Institution.

 

22.  TRANSFERABILITY

These conditions cannot be subject to a total or partial assignment nor a free transfer by the Holder. In case of failure to this prohibition, in addition to the immediate termination of this Agreement, the Holder could be held liable.

 

23.  APPLICABLE LAW AND JURISDICTION

The Framework Agreement is subject to French law.

Without an negociated settlement, all disputes concerning the formation, the validity, the understanding, the execution or the termination of the Framework Agreement is within the exclusive jurisdiction of the courts of the Paris Court of Appeal.

 

 

 

 

 

 

ANNEXE 1 – WITHDRAWAL FORM

 

WITHDRAWAL FORM

In accordance with article L. 314-16 of the Monetary and Financial Code, I benefit from a fourteen (14) calendar days reflection time as of the signature of the Framework Agreement for Payment Services regarding the Account opening above-mentioned, without any additional charge nor justification. This withdrawal is only available if addressed, readable and perfectly filled, before the expiry of the above-mentioned period, by registered letter with acknowledgment of receipt to the address available on the Website.   I, the undersigned (LAST NAME / FIRST NAME) _________________________________________________ renounces to open the Payment Account above-mentioned with TREEZOR following an operation performed remotely.   On:                                                              Signature:

 

 

 

 

TREEZOR PAYMENT SOLUTIONS

ANNEXE 3 OF THE FRAMEWORK AGREEMENT FOR PAYMENT SERVICES

GENERAL CONDITIONS OF SUBSCRIPTION TO AND USE OF THE CARD

 

 

 

Preamble

The Accountholder and the Cardholder shall read carefully the following Conditions of use of the Card before accepting them.

Anytime operates, under the brand “Anytime”, as an agent appointed by TREEZOR to commercialize the Payment Services and the Card to the Users. 

 

The Agreement is concluded between:

Treezor, simplified joint-stock Company, registered in the Nanterre Trade and Companies Register under the number 489 395 111 R.C.S., whose head office is located 41 rue de Prony, 75017, Paris, acting as an electronic money institution in accordance with article L. .525-1 of the Monetary and Financial Code and supervised by the French Prudential and Resolution Authority (“ACPR”), sise 61 rue de Taitbout, 75436 PARIS CEDEX 09, as an electronic money institution under the number 16798,

Hereinafter named the “Treezor” or “Issuer” and,

The Accountholder, natural person, acting on its own behalf for non-professional purposes and having concluded a Framework Agreement for payment services with Treezor.

Hereinafter named the “Accountholder”.

The natural person is willing to subscribe to the Card and enter into the general conditions of subscription to and use of the Card for non-professional uses.

Hereinafter named the “Cardholder”.

Together named the “Parties”.

 

1.     PURPOSE

The General conditions of use stated herein intend to define the conditions of subscription and use of the Card by the Cardholder and the opening of the associated Card Account. The Card is a MasterCard “Anytime” Card.

 

2.     DEFINITIONS

Articles 16, 19, 23 of the Framework Agreement for Payment Services apply to the General Conditions of subscription to and Use of the Business Card, set forth herein. Hence, the words having a capital letter have the meaning stated in the Framework Agreement.

 

Card	MasterCard Card issued by the Issuer for the Card Account Holder’s use.
Card Account	Electronic money account opened in the name of the Accountholder to whom is associated the Card of each Cardholder.
General Conditions of Use	The present document.
Issuer	Treezor, acting as the card issuer.
Partner	Anytime, company operating the service and acting as payment agent appointed by the Issuer and supervised by the Prudential Control and Resolution Authority (“ACPR”).
Payment Order by Card or Payment Order	Instruction issued by the Cardholder with its Card in order to transfer electronic money units immediately refunded in favour of an appointed Recipient.
Payment Transaction	Transfer of electronic money units from the Card Account to the Recipient, accepting the Payment Order. These units are immediately refunded through funds transfer to the Recipient’s bank.
Point of acceptation	Payment page or payment terminal used by the Cardholder to issue a Payment Order by Card to a Recipient.
Recipient	Acceptor of a Payment Order by Card disposing of a point of acceptance.
Scheme	MasterCard Scheme.

 

3.     CARD ACCOUNT

The Accountholder has concluded beforehand a Framework Agreement for Payment Services and is the Payment Accountholder. The Accountholder wishes to appoint one or several Cardholders and commits to make them agree to the present provisions. The Accountholder may be a Cardholder.

 

For this purpose, the Accountholder gives each Cardholder, in accordance with article 12.3 of the Framework Agreement, the power to issue Payment Orders by Card on the Card Account within the limits of the available provision. Each Cardholder may only have one Card. The Accountholder must give the Issuer all the required identification elements regarding the Cardholder.

 

The Accountholder agrees to fund the Card Account, so that the Cardholder shall have electronic money in accordance with the terms agreed between the Accountholder and the Cardholder at the latest before the Issuer’s authorisation of the Payment Order by Card. The Card Account shall be credited with electronic money units acquired through transfer from the Payment Account to the Issuer.

The electronic money is reimbursable at any time, at the request of the Accountholder via the Website, to the extent of electronic money units available on the Card Account appointed by the latter. The reimbursement will be achieved as soon as possible, following the receipt of the Issuer’s request and at the latest before the end of the Working Day during which the request has been received.

 

4.     PRICING

For each service, the Issuer provides the Card to the Cardholder under the Pricing Conditions including the fees related to the reimbursements to the extent of the applicable regulation. These fees are collected on the Payment Account in accordance with the Framework Agreement.

 

5.     CARD ISSUING

The Card issued by the Issuer, to which it remains its property, at the request of the Accountholder. The Issuer may refuse to issue a Card to a Cardholder appointed by the Holder. In this case, it informs the Accountholder of the reasons behind its decision at the request of the latter, unless there is an interdiction in accordance with the regulation.

The Card is intended for non-professional purposes and allow to achieve Payment Transactions which have no professional purposes. The Cardholder agrees to use the Card or its number solely within the Scheme of payment cards to which the brand is indicated on the Card and to respect the terms thereof of each brand indicated on the Card as referred in this agreement.

The Card is personal, its Cardholder must put on it its own signature upon receipt, when a dedicated space on the Card is featured. It is strictly forbidden for the Cardholder to lend or discard the Card. When a dedicated space for the signature is featured on the Card, the absence of signature can justify its refusal.

 

It is forbidden for the Cardholder to put adhesive tags or stickers or to write on the Card except for the signature above-mentioned. The Cardholder cannot modify the Card on a functional or physical aspect if it can lead to hinder its functioning or those of the electronic payment terminals and automatons (hereinafter the “Electronic Equipment”), or the automatic cash dispenser.

 

6.     CARD PURPOSE

The Card is a physical support held by the Cardholder for:

• Reimbursing electronic money through cash withdrawals using automatic cash dispensers of duly authorised establishments providing payment services, displaying one of the Scheme payment card brand appearing on the Card,
• Settling purchases of goods and services to merchants and services providers equipped with a Point of acceptation displaying one of the Scheme payment card brand appearing on the Card (hereinafter the “Acceptors”),
• Remotely settling, possibly by using the chip, the purchases of goods and service to the Acceptors.

 

7.     PERSONALISED SECURITY FEATURES

Personalised security features are made available to the Cardholder in the form of a personal code, communicated personally, only and confidentially to it by the Issuer. The Cardholder must take any measures to ensure the security of the Card and the confidential code and more generally any other element related to the personalised security features. The Cardholder must keep its code secret and must not communicate to any other person, which means for instance not writing the code on the Card or any other document. He or she must ensure to enter the code hidden from prying eyes. He or she must use the personalised security features each time he or she receives the instruction by the Point of acceptation, under penalty of involving its own liability. This code is essential for using the Electronic Equipment and any remote payment terminal (such as the secured reader connected to a computer, TV decoder, mobile phone with Card insertion…) made in such a way that no transaction can be made without entering the code. The number of successive attempts when entering the code is limited to three (3) on the Electronic Equipment. At the third unsuccessful attempts, the Cardholder causes the Card invalidation and/or, if so, its capture. When the Cardholder remotely performs a Payment Transaction by Point of acceptation by entering the confidential code, he or she must ensure that the terminal is certified by the Scheme by verifying if the brand MasterCard is displayed and only use it for the purposes described in article 1. The Cardholder must take any measures to ensure the security of the personalised security features, which, other than the confidential code, can be a remote payment terminal under custody.

 

8.     OTHER PERSONALISED SECURITY FEATURES

To ensure the securing of remote Payment Orders by Card (via Internet for instance) by the Cardholder, it may be asked to the latter to communicate, other than the usual information related to the remote use of the Card (number, validity date and visual cryptogram on the back of the Card), any other information (for instance a password or a different code than the one mentioned in article 3) which may, if so, be communicated by the Issuer. The Cardholder acknowledges having been informed by the Issuer that, for any secured Payment Order by Card done remotely from a foreign country, the delivery by the Issuer of the securing information may result in additional fees to any transporter of said information, such as its mobile phone operator. These fees will stay at the charge of the Cardholder.

 

9.     FORM OF CONSENT AND IRREVOCABILITY

The Parties agree that the Cardholder gives its consent to issue a Payment order before or after determining its amount:

• By entering the confidential code on the keyboard of an Electronic Equipment, by verifying the presence of one of the Scheme payment card brand displayed on the Card,
• By the introduction of the Card in an Electronic Equipment deprived of a keyboard to enter the confidential code, by verifying the presence of one of the Scheme payment card brand displayed on the Card,
• By the communication and/or confirmation of the information related to the remote use of the Card,
• By the confirmation of the information related to the Payment Order communicated via a certified interbank digital wallet.

The Accountholder commits himself or herself to perform all the Transactions ordered with the Card by the Cardholder.

The Cardholder and the Issuer agree that the Cardholder can use the Card for a chain of Payment Transactions by Card, hereinafter named “recurring and/or staggered payments”, to the Acceptors for the purchase of goods and/or services.

The Cardholder gives its consent to the chain of Payment Transactions by Card by the communication and/or confirmation of the information related to the remote use of the Card during the first transaction, if so via a certified interbank digital wallet. The Cardholder may withdraw in the future its consent to the execution of a Payment Transaction or chain of Transactions at the latest at the end of the working day preceding the day agreed for its execution (a working day is a day during which the Issuer exercises an activity allowing the execution of payment transactions).

The Payment Transaction by Card is authorised if the Cardholder has given its consent in one of the forum stated above. However, the Cardholder or the Accountholder can contest the payment in case of liquidation proceedings for the Acceptor.

 

10.   TERMS OF USE OF THE CARD FOR A REIMBURSEMENT OF ELECTRONIC MONEY BY CASH WITHDRAWALS IN THE AUTOMATIC CASH DISPENSER DISPLAYING ONE OF THE BRAND APPEARING ON THE CARD

The Cardholder and the Accountholder must, before each withdrawal and under their own responsibility, ensure the existence of the Card Account on which the Card is associated with a sufficient and available balance. The Accountholder agrees to maintain the balance until the corresponding debit.

The exchange rate which may be applicable is the one currently in effect at the date of the process of the transaction by the relevant Scheme. The conversion to euro or, if so, in the currency of the Card Account on which the Card is functions, is done by the relevant payment card Scheme on the day of the process of the transaction under the conditions of exchange rate of such Scheme. The transaction receipt includes the following information: the payment transaction’s amount in source currency, the amount of the payment transaction converted in euro, the amount of the commissions, the exchange rate applicable. The statement of the Card Account indicates the electronic money balance. Treezor also apply an intermediation margin specified in the Pricing Conditions.

 

11.   TERMS OF USE OF THE CARD FOR THE PURCHASE OF GOODS AND SERVICES

The Card is a payment instrument which must be used only to settle the purchase of goods actually delivered and services actually provided. The payments by Card are done according to the provisions in effect with the Acceptors. They include in principle the control of the confidential code and, under certain conditions defined by the Schemes, a request of authorisation. When the Acceptor is located in a State of the European Economic Area, it has the possibility to install a mechanism of priority selection on the electronic equipment. If the Cardholder does not agree with this choice, he or she can ask the Acceptor for the use of another Scheme or another payment application displayed as “accepted” by the Acceptor.

For the Payment Orders by Card done remotely, the Cardholder can be required to comply with a secure procedure of said Payment Orders, as described in article 4.

The settlements presented for payment by the Acceptor involve a debit of the electronic money unit registered on the Card Account, on which functions the Card according to the Specific Conditions of this Agreement.

The Cardholder must ensure, on the day of the debit of the settlements, that the Card Account on which functions the Card has a sufficient and available balance in electronic money which will be transferred to the Acceptor and immediately reimbursed.

The detailed amount of the electronic money transferred from the Card Account above-mentioned appears, unless stated otherwise, on a statement of the Transactions sent after each Transaction through the Partner.

The Issuer is not concerned by any trade dispute, meaning other than related to the Payment Order, which can appear between the Cardholder and the Acceptor, between the Cardholder and the Accountholder. Such a dispute cannot justify the refusal by the Cardholder or the Accountholder to execute the settlements by Card.

A Payment Transaction by Card can only be reimbursed by an Acceptor if there was a transaction debited from an amount in electronic money higher or equal. This reimbursement must be done with the same Card than the one used for the initial transaction.

A Payment transaction can be used to obtain “quasi-cash” (chips from a casino, foreign currency…) in the dedicated locations to do so.

The exchange rate applicable is the one currently in effect at the date of the transaction’s process by the relevant Scheme at the time of the reimbursement of the electronic money. The conversion in euro or, if so, in the currency in which the electronic money units are registered on the Card Account on which the Card functions, is done by the concerned payment card Scheme on the day of the Payment Transactions process and under the conditions of exchange rate of the relevant Scheme. The Transaction statement includes the following information: amount of the payment transaction in source currency, amount of the payment transaction converted in euro, amount of the commissions, applicable exchange rate. Treezor also apply an intermediation margin specified in the Pricing Conditions.

 

In some cases, the merchant can ask the Cardholder to have an available balance higher than the amount of the transaction the Cardholder wishes to do. Only the real and final value of the transaction will be effectively debited. The merchants take securities and must block the funds which may not be debited from the Card. It can concern for instance:

• hotels, car rentals, and
• internet websites – some merchant sites proceed to request an authorisation on the Card to ensure the funds’ availability. This authorisation has a temporary impact on the available balance on the Card Account. Many merchants only debit a Card at the moment of the delivery of the goods, the Accountholder must hence ensure to have at all time the sufficient funds to cover these purchases.

 

The Card must not be used in situations where it is not possible to obtain an authorisation request online which would allow to know the available balance on the Card Account.

The Card can be used at fuel pumps in self-service in France, as long as the available balance is higher than the necessary amount to authorise the purchase. The Card can be used to pay at the cashier.

 

If, for any reasons, a transaction which had not been subject to a systematic authorisation, has been paid by the Issuer despite an insufficient available balance on the Card Account, the debit amount would be written on the statement of the Accountholder on a specific line “outstanding debt”. The Accountholder agrees to credit the Card Account as soon as possible, in order to allow Treezor to debit the account proportionally to its outstanding debt.

The Accountholder will be notified and will receive an invoice to be paid immediately. If the Accountholder does not immediately pay this amount after having received the invoice, the Issuer will be able to take any necessary measure, including legal, to obtain the due amounts.

 

12.   RECEPTION AND EXECUTION OF THE PAYMENT ORDER

By convention, the Issuer informs the Cardholder that the Payment Order by Card has been received at the moment where it is communicated by the Acceptor’s bank or by the manager of the automatic cash dispenser, through the clearing system or settlement of the payment order. When the Payment Order by Card has been executed within the European Economic Area, the Issuer has a period of one (1) working day after this receipt, to credit the account of the Acceptor’s bank. Concerning the withdrawals, the Issuer informs the Cardholder that the withdrawal order is executed immediately by the provision of cash in the Cardholder’s hands.

 

13.   TREEZOR’S RESPONSIBILITY

When the Cardholder denies having consented to the Payment Transaction by Card, the Issuer must bring the proof of authentication of the Transaction, duly registered and accounted in accordance with the state of the current technology and scientific knowledge, and that the Transaction has not been affected by a technical deficiency. This proof of use of the Card and of the personalised security features can be provided by all means, such as recordings of Points of acceptations or their reproduction on a computer support. The Issuer can use these recordings to justify their imputation to the Card Account on which the Card functions.

The Issuer is responsible for the direct losses incurred by the Cardholder or the Accountholder and caused by a technical deficiency of the Card on which the Issuer has a direct control. However, the Issuer is not held liable for a loss caused by a technical deficiency of the Scheme if it was reported to the Cardholder by a message on the Point of acceptation or other visible way.

 

14.   PARTIES RESPONSIBILITY

The Cardholder must take any measure to keep its Card and maintain the personalised security features attached to it, such as his confidential code. He or she must use it in accordance with the purposes specified in article 1. The Accountholder bears the consequences of the use of the Card as long as he did not make any request of contestation as described in article 10 above.

The Payment Transactions by Card following the loss or theft of the Card are the responsibility of the Accountholder from the first euro and without any limitation of amount. The unauthorised Payment Transactions by Card following the counterfeit of the Card or the unauthorised use of the information related to its use are the responsibility of the Issuer. The unauthorised Transactions done after the contestation request are the responsibility of the Issuer, except those done by the Cardholder.

 

15.   DURATION AND TERMINATION

The General conditions of use are concluded for an unlimited duration. It can be terminated at any time by registered letter with acknowledgement of receipt by the Accountholder, the Cardholder or by the Issuer. The termination by the Accountholder or the Cardholder shall take effect thirty (30) days after the date of receipt of his notification to the Issuer. The termination by the Issuer shall take effect two (2) months after the date of receipt of its notification to the Accountholder. It is expected that in case of closing of the Payment Account of the Accountholder, the General conditions of use are automatically terminated without notice. The Accountholder must restore the Card at the effective date of termination. He or she agrees to respect and make sure the Cardholder respects all the contractual provisions of the General conditions of use until the aforesaid date. As of the effective date of termination, the Cardholder cannot use the Card anymore and the Issuer can take any measures necessary to do so.

 

16.   PERIOD OF VALIDITY OF THE CARD – RENEWAL – WITHDRAWAL AND RESTITUTION OF THE CARD

The Card includes a period of validity which term is indicated on the Card itself. The limited period of validity of the Card corresponds to technical and security necessities, and does not have any consequence on the unlimited period of the General conditions of use. At the expiry date, the Card can be renewed automatically unless the General conditions of use were terminated under the conditions stated here above. Except in case of blockage resulting from the management of the Card Account on which functions the Card, the Issuer can block the Card for security reasons or in case of presumption of unauthorised or fraudulent Transaction, or in case of high risk that the Accountholder is unable to satisfy to its payment obligation. This decision to block is motivated and notified in any cases to the Cardholder and/or the Accountholder. If so, the Issuer can remove the Card or make an Acceptor or any duly certified payment services institution remove it. The closing of the Card Account on which functions the Card or the Payment Account of the Accountholder results in the obligation for the Cardholder to return the Card. The definitive closing of the Account can only intervene at the earliest one (1) month after the restitution of the Card(s).

 

17.   CONTESTATION OF A TRANSACTION

The Cardholder or Accountholder has the possibility to contest a Transaction, if possible by presenting the ticket issued by the Electronic Equipment or a proof of the Payment Order by Card, as soon as possible and in at least one (1) month after the date of debit of the Card Account on which functions the Card. The Issuer is not responsible for the contestations related to the price of the purchase of goods and services. Only those related to the absence of incorrect execution of the Payment Order given by the Cardholder or the Accountholder to the Issuer are concerned by this article. By way of derogation, the Accountholder can ask for the reimbursement of an authorised Payment Transaction if the authorisation given did not indicate the exact amount of the Payment Transaction and if the amount is higher than the one the Cardholder could have reasonably expected. In this case, the Issuer can ask the Holder to provide it all the elements related to the reimbursement asked. The reimbursement request must be presented before the expiration of the eight (8) weeks period starting from the date of debit of the Card Account on which functions the concerned Card. The Issuer has ten (10) working days starting from the receipt of the reimbursement request to carry out the reimbursement or justify its refusal. The Issuer, the Accountholder and the Cardholder agree to do their best to communicate the information related to the conditions of execution of the Payment Transaction. If so, and for instance in case of fraud or suspected fraud committed by a non-identified third party or not, the Issuer can ask for a voucher or a copy of the complaint form.

The Cardholder or the Accountholder may contest to the Issuer when, during a cash withdrawal, the Cardholder did not receive all the sums asked. The contestation must be presented before the expiry of the eight (8) weeks period starting from the debit of the electronic money reimbursement Transaction. The amount of the funds returned is equal to the sum not received.

 

18.  REIMBURSEMENT OF NON-AUTHORISED OR INCORRECTLY EXECUTED TRANSACTIONS

The Accountholder is reimbursed:

• Of the amount of the contested debits in good faith by the Cardholder or the Holder in case of a fraudulent use or hijacking of the Card or the information related to it for the transactions which occurred before the contestation request in accordance with the present General conditions of use,
• Of the amount of all the contested debits in good faith by the Cardholder or the Holder for the transactions which occurred after the contestation request, in accordance with the present General conditions of use, in such a way that the debited Card Account is restored in the situation where it would be if the amounts contested would not have occurred, of the amount of all the debits corresponding to incorrectly executed transactions.

 

19.   WARRANTY

The Issuer agrees to exchange at any time the Card declared defective. The defective product must be returned to the Issuer as it is by registered letter with acknowledgment of receipt (the shipping charges are reimbursed to the Holder on its funds reserve if the product is confirmed to be defective after verification by the services). The Card wrongly declared defective will be returned to the Cardholder, with the charge for it of management fees, which will be debited on his funds reserve. In any cases, the Cardholder has legal warranty of conformity and latent defects, in accordance with articles L. 211-4 and following of the Consumer Code and article 1641 of the Civil Code.

The warranty does not cover:

• The abnormal use or non-compliant use of the Card compared to its purposes and the documentation of its uses and the present agreement;
• The defects and their consequences related to a non-compliant use;
• The defects and their consequences related to any external cause;
• The negligence in the conservation of the Card (prolonged exposure to the sun, to the water or high humidity, repeated contacts with metallic objects such as keys, etc.).

 

20.   SANCTIONS

Every false declaration is subject to legal sanctions. Every false declaration or abusive use of the Card can also result in the termination of this agreement. Every fees or real expenses engaged for the forced recovery of the Transactions are shared jointly by the Cardholder and Holder. The amount of the Payment Transaction by Card which could not be debited to the Card Account on which the Card functions, shall bear interest at the legal rate starting from the value date and without prior notice.

 

 

 

 

ANNEXE 1 – WITHDRAWAL FORM

 

WITHDRAWAL FORM

In accordance with article L. 314-16 of the Monetary and Financial Code, I benefit from a fourteen (14) calendar days reflection time as of the signature of the Framework Agreement for Payment Services regarding the Account opening above-mentioned, without any additional charge nor justification. This withdrawal is only available if addressed, readable and perfectly filled, before the expiry of the above-mentioned period, by registered letter with acknowledgment of receipt to the address available on the Website.   I, the undersigned (LAST NAME / FIRST NAME) _________________________________________________ renounces to open the Payment Account above-mentioned with TREEZOR following an operation performed remotely.   On:                                                              Signature: