Payment Agent Authorization Addendum
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1. Receivables.
The Stuut Platform enables Customer to, for its internal business purposes, process outstanding accounts receivables (“ Receivables”). Customer agrees that use of the Stuut Platform includes Stuut processing Receivables on Customer’s behalf.
2. Authorization to Collect Receivables.
All Receivables are credited to Customer in accordance with Stuut’s payment policies and procedures and subject to Stuut’s agreements with third party payment processors. Customer agrees to provide all information reasonably requested by Stuut to support these collection and processing activities. By using the Stuut Platform, Customer hereby expressly appoints Stuut as its limited payment collection agent solely for the purpose of collecting Receivables held by third parties (“ Payors”) on Customer’s behalf (“ Payment Agent”). Customer agrees that any payment of Receivables made by a Payor to Stuut shall be considered the same as a payment made directly to Customer. In accepting appointment as Payment Agent of Customer, Stuut assumes no liability for any acts or omissions of Customer.
3. Remitting Amounts.
As Payment Agent of Customer, Stuut shall remit funds to Customer upon Stuut’s receipt of the associated Receivables from the applicable Payor. Stuut guarantees payments to Customer only for such amounts that have been successfully received by Stuut from the applicable Payor.
4. Interpretation.
To the extent of any conflict or inconsistency between the terms of the Agreement and this Payment Agent Addendum, the terms of this Payment Agent Addendum will prevail.