Payment Terms of Use

Introduction

These Payments Terms of Use (“Payments Terms of Use”) set out the terms on which the Pinchorja Payment Entities set forth below offer you Payment Services (as defined below in Part I, Section 1) in relation to your use of the Pinchorja Services. Your use of the Pinchorja Services will continue to be governed by the User Agreement applicable to you. Capitalized terms used, but not defined, in these Payments Terms of Use have the same meaning as set forth in the User Agreement. The applicable User Agreement, related Pinchorja policies, or other agreements between you and us (for example, a billing agreement) may include provisions regarding your use of the Pinchorja Services without Managed Payments (as defined below) which may conflict with these Payments Terms of Use. You understand that, with respect to our Payment Services, these Payments Terms of Use supersede any and all such conflicting provisions. You agree to comply with these Payments Terms of Use when accessing or using our Payment Services.

These Payments Terms of Use are between you and the applicable Pinchorja Payment Entities, as set forth below. If you have international sales, you may receive Payment Services from one or more Pinchorja Payment Entities, as described in Part I, Section 2 below. In addition to the General Payments Terms (Part I of these Payments Terms of Use), each Pinchorja Payment Entity has Additional Payments Terms (Parts II, III, IV, V and VI of these Payments Terms of Use) that apply to the Payment Services such entity provides. Pinchorja . and the companies it directly or indirectly controls, is controlled by, or is under common control with, are referred to as our “Affiliates.” The Pinchorja Payment Entities are Affiliates of Pinchorja .

I. GENERAL PAYMENTS TERMS

This Part I of the Payments Terms of Use applies to all Payment Services you receive from the Pinchorja Payment Entities (also collectively referred to as “we” or “us” in this Part).

1. About Payments on the Pinchorja Services

You agree to have the Pinchorja Payment Entities receive or execute payments on your behalf in relation to your use of the Pinchorja Services, and manage settlement of related payments to you (referred to as “Managed Payments,” “Payment Services,” or similar names).

Buyers may pay for your items using payment methods such as the following, the availability of which may vary:

Certain credit or debit cards (including VISA, Mastercard, and Discover),
PayPal,
Digital wallets (such as Google Pay, and Apple Pay),
Direct debit,
“Pay Later” payment methods or point-of-sale financing known in some regions as payment via installments, or “direct debit upon invoice” or “payment upon invoice,” or “Buy Now Pay Later,”, if this service is available or active to your store- Pinchorja will provide this service depending on the business history with us.
Pinchorja coupons, gift cards, etc. (if applicable We may modify the scope of payment methods available at our sole discretion.

The underlying contract for the buyer’s purchase of “items” (which may refer to goods and/or services) from you is directly concluded between you and the buyer.

After a Managed Payments transaction occurs, you will receive a notification confirming such payment transaction. We will initiate settlement of proceeds received to your Linked Financial Account (as defined below in Part I, Section 4 “Seller Onboarding”). You can access the status of your Managed Payments transactions, including settlements and other payment information, under the Payments tab in the Seller Hub, which will be available to you when you successfully onboard to Managed Payments. If a payment is made to you in error, or if you receive funds that you are not otherwise entitled to receive at the time of disbursement, we have the right to recoup such amounts from you.

2. International Sales

Because multiple Pinchorja Payment Entities provide Payment Services, you may receive Payment Services from more than one Pinchorja Payment Entity, as follows:

If you receive Payment Services from a Pinchorja Payment Entity, such entity is appointed to process transactions and manage the settlement of funds related to your sales.
Each Pinchorja Payment Entity is appointed to manage payments for sales on one or more sites, as set forth in the table below (“Responsible Payment Entity”). The site on which you list your item will determine the Responsible Payment Entity for a given sale.
Your “Payout Entity” is the Pinchorja Payment Entity associated with the country in which you reside or are established as a business. You will receive all disbursements to your Linked Financial Account from this entity, regardless of where you list your items.
These disbursement or Payouts will be done via bank transfers to the banking information provided on our Pinchorja Platform and related to your store registered on our platform.
In cases where you have listed an item on a Pinchorja site whose Responsible Payment Entity differs from your Payout Entity, you will cease to be considered as receiving payment services from that Responsible Payment Entity if more than 12 months have passed since you last sold an item listed on the relevant Pinchorja site.

Payout Currency

Your “Payout Currency” is the currency that we will use for settling your transaction proceeds to your Linked Financial Account. We will generally determine your Payout Currency as follows, unless you and we agree otherwise:

The Payout Currency to be used at the moment is in Jamaican Dollars (JMD).
Payouts in other currencies will be determine as Pinchorja Limited expand its operations in other international markets.

We may enable further Payout Currencies at our sole discretion in the future. Where offered by us and agreed upon by you and your buyer, your buyer may pay for an item you sell with currency other than your Payout Currency. When this happens, the paid amount will be converted into your Payout Currency prior to disbursement of the funds to you, using the applicable transaction exchange rate and assessing the currency conversion charge as indicated on our Fee Page described in Section 3 (“Seller Payment Fees”) below. Similarly, your receipt of Pinchorja Services from Affiliates may cause you to incur fees which are published in a currency other than your Payout Currency; if this happens, we may convert such fees into your Payout Currency in the same manner as described in the prior sentence.

Further, if you live in an Additional Country, the financial institution you opened your Linked Financial Account with may charge you a separate fee for converting your funds from Jamaican Dollars to your local currency.

3. Seller Payment Fees

The fees and expenses which we charge in relation to your use of Managed Payments are, unless otherwise communicated to you, set forth in the applicable.

These fees also include bank charges related to transfers or credit card fee charges related to the transactions or sales generated through the Sellers store using our Platform.

4. Seller Onboarding

In order to use our services, you must register and accept these Payments Terms of Use. Payments online registration application constitutes your offer to conclude this agreement. If your onboarding is not immediately confirmed, you will receive notification that you have been approved to receive services once we have reviewed your information.

To use Managed Payments, you must:

Link a financial account, so you may receive settlements of proceeds from Managed Payments to this account (“Linked Financial Account/Bank Account”). If you reside in the outside Jamaica as the United States, Canada, the United Kingdom, or Australia, your Linked Financial Account must be a bank account based in your country of residence, or such other type of account or instrument (such as a debit card) that we may permit in our discretion. If you reside in an Additional Country, we may require you to create a Linked Financial Account with a spOther Entityfic non-bank third-party financial institution to receive payouts. Depending on the Additional Country that you reside in, we may also offer you the option to use a bank account located in the Additional Country as a Linked Financial Account. If we cannot make direct debits from your Linked Financial Account for Owed Amounts (as defined in Section 10), we require you to keep another payment method on file with us and we may withhold payouts to your Linked Financial Account until you have successfully provided us with such other payment method.
At this time, you may only use our Payment Services to receive disbursements to a Linked Financial Account. You may change your Linked Financial Account at any time as permitted by us. Payouts will be made to your Linked Financial Account subject to (i) your completion of the Linked Financial Account verification process, and (ii) the completion of our assessment for security and risk purposes and under our anti-money laundering and other legal obligations. Our assessment typically takes up to two (2) days after your completion of the verification process, or longer if any issues or irregularities arise in which case we will complete our assessment without undue delay. If you reside in an Additional Country and we offer you the option to receive payouts to more than one Linked Financial Account, we will allocate your payouts among your Linked Financial Accounts in conformity with your instructions. By adding a Linked Financial Account to your Pinchorja account, you represent and warrant that you are the lawful owner of, or have the lawful right to use, any Linked Financial Account you associate with your account. In certain circumstances, we may permit you to direct payouts to a Linked Financial Account owned or controlled by your legal representative. If you elect to receive payouts to a Linked Financial Account owned or controlled by a legal representative, you represent and warrant that the legal representative has the authority to receive payouts on your behalf, and you fully release us from any and all liability for losses you may sustain arising from disbursements made by us to the legal representative under these Payments Terms of Use.
Provide us with all information which we may require for purposes that include: verifying your identity, complying with applicable laws and regulations such as anti-money laundering and sanctions screening obligations, allowing us to manage settlements of your transaction proceeds, and assessing fraud and risk. If you are an individual, this information may include, without limitation, your full name, address, phone number, date of birth, taxpayer identification number, bank account information, and a form of government-issued identification (e.g., a copy of your identity card or driver’s license, passport number). If you are a business, this information may include, without limitation, your full business name, address, phone number, entity type, bank account information, tax identification number, and business number, in addition to details regarding your beneficial owner(s), director(s), officer(s), authorized representative, legal representative, and/or primary contact, such as name, contact information, nationality, title, and government-issued identification (such as TRN- Tax Return Number). You understand that we will be unable to settle your proceeds or issue you any tax documents if you do not provide or appropriately update us with accurate contact information and other requested data.
Provide us with all information necessary to authenticate you or your payment transactions, which may include validation of your phone number or email. You understand that we may be unable to execute certain transactions or complete certain requests without this information.
Maintain in a timely manner the accuracy of the information we have on file, and consent to our periodic updating of such stored information based on information provided by you, your bank, or other payments services providers. You will only provide us information about payment or settlement methods that you are authorized to use. You understand that if you update information such as your country of residency, you may need to repeat some or all of the onboarding steps described above to continue using Payment Services.
Comply with all, and not cause a third party to violate any, applicable laws, regulations, rules, and terms and conditions in connection with your use of the Pinchorja Services. You will not use Payment Services to move funds associated with gambling. You understand that some third parties (such as banks, credit and debit card issuers, credit and debit card networks, and payments services providers) may have their own terms and conditions for the payment or settlement methods you or buyers choose to use in connection with payments that we manage, such as terms and conditions that relate to the settlement of funds, chargebacks, prohibited items, and overdrafts. Failure to abide by third-party terms and conditions may result in fees assessed to you, delays in your receipt of funds, or other actions taken by such third parties. You agree that we have no control over, or responsibility or liability for, such fees, delays, or actions.

You authorize us and our Affiliates to verify and evaluate information you provide to us, including by verifying the existence of your bank account, verifying your identity and other personal information, obtaining reports from third parties, or comparing information you provide to us with information provided by third parties. Such third parties may include without limitation banks, credit and consumer reporting agencies, data brokers and service providers. We reserve the right to close, suspend, or limit your account or rescind your access to any or all of our services in the event we are unable to obtain or verify any of this information. We are not responsible for any losses suffered by you as a result of incomplete or inaccurate information you provide.

5. Shipping

When you receive notice that a buyer has paid for an item through a Managed Payments transaction, you must then ship or otherwise deliver your item in accordance with the agreed shipping method.

6. Managed Payments Limitations

In some listings or categories, Pinchorja may allow sellers to offer buyers the option to pay for a purchase directly to the seller without using the payment services offered by us under these Payments Terms of Use, for example by cash payment on pickup (“Offline Payment Methods”). We do not manage payments for such Offline Payment Methods. Offline Payment Methods are not covered by affiliates programs; additionally, we will not assist buyers or sellers with payment disputes (such as chargebacks) in connection with Offline Payment Methods. Your listings are subject to Pinchorja ‘s payment policies and any other terms about payments that may appear on the Pinchorja Services, including terms relating to the payment and disbursement methods available to you for such listings.

7. Using Managed Payments

Returns and Cancellations; Refunds

If your buyer is entitled to a refund for a return or cancellation for a Managed Payments transaction, based on an agreement between you and the buyer or according to Pinchorja ’s policies regarding such transaction, you authorize us to pay to the buyer the corresponding refund amount on your behalf.

Disputes

A buyer (or the owner of a payment instrument) may initiate a chargeback, direct debit reversal, or PayPal buyer protection claim, or otherwise ask their financial institution to open a payment dispute (all referred to solely within this Part I as “Dispute”) in connection with a Managed Payments transaction. The final outcome of the Dispute will be dOther Entityded by the buyer’s financial institution.

We will manage Disputes, as follows: When a Dispute is opened, we will notify you and ask you whether you choose to accept or challenge the Dispute. If you accept the Dispute, you agree to the reversal of the payment to the buyer. If you challenge the Dispute, Pinchorja will submit to the financial institution any relevant evidence you provide about the Dispute. You agree to provide timely information to assist in the Dispute resolution process and understand that your failure to provide requested information on the timeline we require and as spOther Entityfied by credit and debit card networks’ and other payment service providers’ rules could adversely impact the outcome of a Dispute investigation, up to complete forfeiture of the amounts in Dispute. If you accept the Dispute or if the buyer’s financial institution dOther Entitydes in favor of the buyer, the respective amount will be refunded to the buyer’s original payment method and charged to us. You must reimburse us for such charges, unless you are eligible for the Seller Protection policy provided by the Pinchorja Affiliate which provides the Pinchorja Services to you, in which case you are not held liable for amounts refunded to the buyer. If you choose to accept the Dispute, we may still dOther Entityde to challenge the Dispute in our discretion and at no additional costs to you.

Some payment institutions offer an optional arbitration process to contest the results of an individual Dispute. We may ask for your consent to participate in such arbitration process. If you consent to chargeback arbitration, you authorize us to represent and defend you throughout the arbitration. You will be responsible for all costs and expenses (including reasonable legal fees and any arbitration fees assessed by third parties, arising from such arbitration proceedings), as agreed between you and us in each case, and you authorize us to pay these amounts on your behalf while the arbitration is pending.

Seller Protection

If you have met your eligibility requirements for, and fulfilled all your applicable obligations, under the Seller Protection policy provided by the Pinchorja Affiliate which provides the Pinchorja Services to you, you will not be held liable for any amounts to be returned to buyers due to Pinchorja program claims, Disputes or unauthorized transactions with Pinchorja spendable funds.

Fines, Penalties and Losses

We are unable to manage payments for prohibited and restricted items. Before listing your item, you must ensure it complies with Pinchorja ‘s rules, applicable laws, and any additional restrictions imposed by credit card associations, network rules, or third-party payments service providers that we may use.

You agree to indemnify and reimburse us for all reversals, chargebacks, claims, costs, losses, damages, fees, fines, penalties and other liabilities and expenses incurred by us or brought against us by a third party arising out of (a) your breach of these Payments Terms of Use or the User Agreement including without limitation any violation of Pinchorja ’s policies; (b) your violation of any law or the rights of a third party; or (c) any transaction processed by us for you for an item or service you listed on Pinchorja (including without limitation the accuracy of your item description or any claim or dispute arising out of items or services offered or sold by you).

Holds

We reserve the right to manage the risks associated with providing you the Payment Services, by placing restrictions on your access to your funds when deemed necessary, as described in further detail below.

You agree that we may place holds on your funds or instruct a payment service provider to hold your funds, prior to disbursement. For the avoidance of doubt, if you receive funds to either a stored value account issued to you under Pinchorja ’s Balance Terms and Conditions or to a payment account, a hold may also be placed on such funds. If a hold is placed on your funds, the amount and status of the hold will be displayed under the Payments tab in the Seller Hub/My Pinchorja . We will notify you through the Pinchorja Message Center and/or by email and, depending on the reason, may request additional information from you to help resolve the issue.

Your bank’s holds and settlement procedures may at times cause delays in the settlement of funds to your Linked Financial Account, and we do not have control over these delays.

Reserves

In order to manage risk or secure your obligations under these Payments Terms of Use, we have the right to require a reserve of transaction proceeds. This means that the respective portion of your funds is reserved as unavailable for disbursement. Reserves may be in the form of rolling and/or minimum reserves.

A rolling reserve is a reserve funded by withholding a set percentage of your transaction proceeds each day for a fixed period to be released to you later at a scheduled time on a rolling basis. For example, we may require a rolling reserve of 10% for a period of 60 days. Under this requirement, 10% of your transaction proceeds earned on day 1 will be withheld from your payouts and then be released to you on day 61. Subsequently, 10% of your transaction proceeds earned on day 2 will be withheld and then released to you on day 62, and so forth. Rolling reserves are the most common type of reserve.
A minimum reserve is a requirement to hold a spOther Entityfic amount of money in your reserve. A minimum reserve may be funded by contributing a set percentage of your daily transaction proceeds to the reserve up to the minimum requirement, or by setting-off the entire amount of the minimum requirement from your pending payouts. For example, if we require a minimum reserve of $300,000 JMD, the reserve may be funded by contributing 10% of your transaction proceeds to the reserve each day until the amount reaches $300,000 JMD. Alternatively, if your pending payouts equal or exceed $300,000 JMD, the minimum reserve may be funded by setting off the reserve requirement from your pending payouts at one-time in full.

We may require a reserve if we have reason to believe there is an increased risk of non-fulfillment of your obligations under these Payments Terms of Use. We take into consideration relevant risk factors before requiring a reserve, including, as applicable (i) your Pinchorja account history, (ii) whether the category you are listing in has a higher likelihood of chargebacks or refunds, (iii) whether your Pinchorja account has an elevated number of customer claims or disputes, (iv) your business and/or personal credit history (business sellers may be subject to credit agency checks if permitted by applicable law), (v) whether you are selling products in advance of availability (pre-selling orders), and (vi) whether you have extended delivery time frames. Depending on your performance and the risk associated with your use of Managed Payments, a reserve may be raised, lowered, or removed at any time. The amount of each reserve (and any subsequent change) will be reasonably determined based on the seller-spOther Entityfic risk (including the volume of your sales). The amount and status of each reserve will be displayed under the Payments tab in the Seller Hub/My Pinchorja and we will notify you of any reserves we require of you.

Our Liability

If we have acted with reasonable precautions and/or in accordance with our legal obligations, we are not liable for any unauthorized, incorrectly, unexecuted, or delayed payment transactions when such issues were caused by abnormal and unforeseeable circumstances beyond our control.

Signature

In instances where we are required to collect your signature to meet anti-money laundering and/or other legal requirements, we may (where not prohibited by applicable law) treat your acceptance of these Payments Terms of Use as the equivalent of you providing us your signature.

8. SpOther Entityfic Payment Methods

8.1 SpOther Entityfic Payment Methods

On certain Pinchorja sites/stores, buyers may be able to choose spOther Entityfic payment methods, including but not limited to direct debit, payment by invoice, or installment payments (“SpOther Entityfic Payment Methods”), to pay for items purchased from you, and which require you to assign your purchase claim against the buyer to us. The SpOther Entityfic Payment Methods are offered to buyers by our integrated payment partners (“Payment Partners”).

If your buyer chooses a SpOther Entityfic Payment Method in connection with a purchase on Pinchorja (“Sales Contract”), the Responsible Payment Entity processing the transaction will acquire your purchase price claim against the buyer, including all ancillary rights, and will sell and assign the claim to its acquirer (“Acquirer”), e.g., “Cute Things” The Acquirer will sell and assign the purchased claim to the respective Payment Partner, who will assume the payment default risk in accordance with the following provisions. This arrangement is referred to as “Chain Assignment”. Buyers using a SpOther Entityfic Payment Method will make their payments to the Payment Partner, who will forward the payments to the Responsible Payment Entity via the Acquirer, so that the Responsible Payment Entity can process and settle such payments to you according to these Payments Terms of Use.

You shall conclude with your buyer the Payment Partners’ terms and conditions for the use of the SpOther Entityfic Payment Method, including any applicable privacy notice (“Partner Terms”). You hereby agree and accept that the respective Partner Terms shall become an integral part of each Sales Contract where the buyer uses a SpOther Entityfic Payment Method. You instruct Pinchorja and the Payment Partners to implement the Partner Terms into the Pinchorja checkout and make the Partner Terms available to the buyer on your behalf.

The Payment Partners and the Acquirer will not be a party to and not have any obligation under these Payments Terms of Use or any other agreement between you and the Responsible Payment Entity, Pinchorja , the buyer, or any third party.

8.2 Purchase and Assignment of Seller Receivables

You agree that each receivable against your respective buyer in connection with a Sales Contract where your buyer has chosen a SpOther Entityfic Payment Method (jointly the “Seller Receivables” and each a “Seller Receivable”) will automatically be offered to the Responsible Payment Entity for purchase after conclusion of each Sales Contract. The Responsible Payment Entity will either accept your offer by proceeding with the payment process or reject your offer. Such offer and acceptance will conclude a purchase agreement between you and the Responsible Payment Entity (“Single Purchase Agreement”) regarding the relevant Seller Receivable which is purchased (the “Purchased Receivable”) in accordance with this Section 8.

You hereby assign, subject to the conclusion of a Single Purchase Agreement, all your current and future Seller Receivables including ancillary rights (such as rights for any securities, transport and deficiency insurance claims, withdrawal or rescission rights, or other claims against third parties with respect to the relevant Seller Receivable) to the Responsible Payment Entity, which hereby accepts the assignment. Upon conclusion of a Single Purchase Agreement, you and the Responsible Payment Entity reiterate the assignment of the relevant receivable identified through the transaction-ID in the purchase offer whereby the purchase offer constitutes an offer to assign the relevant receivable from you to the Responsible Payment Entity and the acceptance of purchase offer constitutes an acceptance of this offer by the Responsible Payment Entity.

In case there is any doubt about the validity of the assignment of the Seller Receivables and this requires any further declaration or action by you, you will execute such declaration or action upon request of the Responsible Payment Entity.

You irrevocably authorize the Responsible Payment Entity with the power of sub-delegation to notify the relevant buyer regarding the assignment of the Seller Receivable and to exercise non-assignable rights, such as contractual rights, in connection with the Seller Receivables in its own name.

8.3 Collection Risk/Collection

Except in a case of a Defect Receivable pursuant to Section 8.5, the Responsible Payment Entity bears the risk that the Purchased Receivables are not collectable from the respective buyer in part or in full, in particular caused by the insolvency of the buyer. The Responsible Payment Entity will pay the purchase price (minus the agreed fees and expenses) for the relevant Purchased Receivable regardless of whether it chooses to enforce the relevant Purchased Receivable.

The collection and enforcement of the Purchased Receivables is the responsibility of the Responsible Payment Entity which shall bear any and all costs in this regard. The Responsible Payment Entity will transfer the economic risks of the obligations described in the sections above to the Acquirer and consequently to the Payment Partners in accordance with the Chain Assignment arrangement.

8.4 Representations and Warranties

Every time upon entering into a Single Purchase Agreement concerning a Purchased Receivable, you represent and warrant to the Responsible Payment Entity that

the Purchased Receivable is valid, validly assigned to the Responsible Payment Entity, and enforceable against the buyer;
you hold free and clear title to, and may freely assign and transfer, the Purchased Receivable, and the Purchased Receivable has not yet been assigned or transferred to third parties; and
you will ship, deliver, or provide the respective item(s) to the relevant buyer completely, on time and in accordance with the Sales Contract with the respective buyer in order that the respective buyer is not able to exercise any right or claim of retention, set off, supplementary performance, reduction, recession right or damage claims.

Your representations and warranties with respect to a Single Purchase Agreement will be provided by the Responsible Payment Entity to the Acquirer (and by the Acquirer to the Payment Partners) back-to-back in accordance with the Chain Assignment arrangement.

8.5 Assignment of Purchased Receivables back to You/Disputes

If the relevant Purchased Receivable fulfills one of the following criteria (the “Defect Receivable”):

the buyer reverses the Sales Contract on the basis of a mandatory withdrawal right or a voluntary right of return offered by you;
in case of an Pinchorja claim or a payment dispute; for example, if the buyer objects to a Purchased Receivable, if, upon request, you do not provide valid proof of shipment or delivery or other proper performance to the Responsible Payment Entity in accordance with the Seller Protection Policy;
you are in breach of a representation and warranty pursuant to Section 8.4 in respect of the Purchased Receivable;

or in any other case where you give a refund to a buyer for any Purchased Receivable (“Refunded Receivable”), and the Acquirer consequently dOther Entitydes to use its right to assign back the relevant Defect/Refunded Receivable to the Responsible Payment Entity, the Responsible Payment Entity is entitled to assign back any Defect/Refunded Receivable to you.

The Responsible Payment Entity hereby assigns all current and future Defect/Refunded Receivables to you subject to the condition precedent that we notify you of the refund to the buyer in relation to a Defect or Refund Receivable (the “Reassignment Notice”), and you hereby accept the assignment of all current and future Defect/Refunded Receivables. You are obliged to pay back any purchase price which you have received from the Responsible Payment Entity for the Defect/Refunded Receivable without undue delay after the relevant Re-Assignment Notice was provided. The Responsible Payment Entity is entitled to set off this claim against you with any further payment it is obliged to pay to you.

8.6 Information and Assistance Obligations/General Provisions

You shall undertake to inform the Responsible Payment Entity promptly upon becoming aware of (i) any breach of a representation and warranty according to Section 8.4 regarding any Purchased Receivable or (ii) any other event that may materially impair or jeopardize the realization of the Purchased Receivables or might materially change your solvency or, subject to you becoming aware of it, the probability of payment of the Purchased Receivables by the buyer.

In case you receive any direct payments from a buyer on the Purchased Receivable, you shall reject these received payments and refund the buyer, and notify the payer that payment shall be made to the respective Payment Partner. You shall notify the Responsible Payment Entity of any rejected payments on the Purchased Receivables.

Upon our request, you shall promptly hand over to the Responsible Payment Entity, the Acquirer, and/or the Payment Partners any information, records and documents which are necessary or expedient for the examination and the enforcement of the Purchased Receivables.

9. Security; Third-Party Providers; Data Protection

Security

You acknowledge the importance of the security measures we put in place with regards to Managed Payments, and agree to comply with them. You are responsible for maintaining the security of all passwords, codes, or other login credentials used to access your Pinchorja account and the related Payment Services and, subject to Pinchorja ‘s seller protection policies, for any transactions made or actions taken using your Pinchorja account.

If you become aware of an unauthorized payment transaction or of a delayed or incorrectly executed transaction, you must notify us immediately by using a contact method stated in the “Introduction” of these Payments Terms of Use, above. If you notify us by telephone of such a transaction, we may request written confirmation immediately following the notification. The notification shall be free of charge.

Third-Party Providers

We may use our Affiliates or third-party service providers (for example companies that process payments and disburse settlements, perform risk assessments or compliance checks, verify identity, or validate payment or settlement methods) in different locations to assist us in providing Managed Payments. Our Affiliates or third-party service providers may further outsource the services to other Pinchorja Affiliates or third-party service providers. In this context we may transfer your data to such Pinchorja Affiliates or third-party service providers to whom services are outsourced. At times, we may communicate to you through the Pinchorja Affiliate which provides the Pinchorja Services to you. For example, our Affiliate may notify you of a hold or other restrictions taken on your account. As relating to outsourced services, you hereby explicitly agree to our use of such Pinchorja Affiliates or third-party service providers to assist us in providing Managed Payments and the outsourcing of services in relation thereto (including the right to sub-outsource), and you accept that the obligation of secrecy does not exist with respect to the related transfer of data (e.g. contact details, account information, sales related information) to such Pinchorja Affiliates and third-party service providers. Our Affiliates and third-party service providers are either subject by law to a professional secrecy obligation, as provided by the law applicable to the Pinchorja Affiliates or third-party service providers, or will be contractually bound to comply with strict confidentiality rules. Customer data transferred in accordance with these purposes will only be accessible to a limited number of persons within the relevant Pinchorja Affiliates or third-party service providers, on a need to know basis. Regardless of whether we use Pinchorja Affiliates or third-party service providers, the appropriate Pinchorja Payment Entity remains responsible to you for the performance of the services contemplated under these Payments Terms of Use.

In conformity with our User Privacy Notice, we may also share information collected by us pursuant to these Payments Terms of Use with our Affiliates as necessary to enable your continued use of our Payment Services and the Pinchorja Services. Please view our User Privacy Notice for more information on the collection and processing of personal data, including details on processing purposes and legal bases under applicable data protection laws.

Data Protection

Our performance of Payment Services entails the processing of your buyer’s personal data when a sale happens. With respect to such data processing, you, the Responsible Payment Entity, and the Payout Entity each act as a separate data controller/business under applicable data protection laws. You agree to comply with your obligations as a data controller/business pursuant to all applicable data protection laws to which you are subject, and provide us with all reasonable cooperation, information, and assistance as necessary for us to meet our requirements as a data controller/business.

10. Collection of Fees and Other Amounts You Owe

You authorize us to collect from you any amounts you owe us, our Affiliates (in particular the Affiliate which provides the Pinchorja Services to you), or third parties who, as separately authorized by you, provide services to you in connection with your use of the Pinchorja Services (such as shipping carriers), under these Payments Terms of Use, the User Agreement, any other service contract, policy, agreement or as required by law (referred to as “Owed Amounts”). Owed Amounts typically include the following:

Fees;
Amounts as described in “Returns and Cancellations; Refunds”, “Disputes” or “Fines, Penalties and Losses” in Section 7 above;
Amounts you owe the Pinchorja Service Provider under the applicable Pinchorja Policy;
Taxes or other charges related to your use of our or our Affiliates’ services, if applicable and required by law; and
Amounts we incorrectly settled to you due to a payment processing error or otherwise (see Section 1 above).

For clarity, your authorization permits us to collect amounts which you already owe to us, our Affiliates or third parties as described above. This authorization does not establish any new claims for payment against you. In some cases, our Affiliates may assign a claim against you for payment of Owed Amounts payable by you to us.

Collection of the Owed Amounts may be carried out on a one-time, sporadic, or recurring basis by the following means:

Retaining such amounts from your current or future disbursements relating to any transactions that you may have in connection with any Pinchorja account owned by you;
Recouping from your Linked Financial Account (and if required, by issuing a direct debit mandate or other similar authorization);
Recouping from any other payment instrument or payment method you may have authorized or placed on file with us or our Affiliates (for example, to pay for seller fees, shipping labels, or dispute resolution);
Recouping from your stored value account, if a stored value account has been issued to you;
Recouping from your payment account, if a payment account has been issued to you; and
Retaining collections agencies or using other collections methods, if the collection by other means has been unsuccessful.

You authorize us to choose the method of collection among those listed above. We generally deduct Owed Amounts from your current or future disbursements we process on your behalf. If a stored value account or payment account has been issued to you, we will deduct the Owed Amounts from funds held in the relevant stored value account or payment account before disbursing the funds to you. If your disbursements awaiting payout or funds held are not sufficient to cover these amounts, we will charge your Linked Financial Account or another payment method on file. If you have several payment instruments on file, you may indicate a spOther Entityfic payment instrument as your preferred payment method for collecting Owed Amounts in your Pinchorja account.

You also authorize the Affiliate whom you have entered into the User Agreement with for the provision of Pinchorja Services to charge you for any Owed Amounts on our behalf from any payment method you may have on file with such Affiliate.

If our attempt to recoup an Owed Amount from a payment instrument you have authorized us to use fails as a result of your acts or omissions, we may charge you for the failed attempt as set forth on the Fee Page or as applicable in Parts IV and V below.

11. Amendment

All sellers

We may amend these Payments Terms of Use by notifying you of the changes in writing (for example, by posting a revised version of these Payments Terms of Use on our website, including the Seller Hub or the Pinchorja Message Center). Before the anticipated effective date of such change, we will notify you at least fourteen (14) days prior, or

if your Payout Entity is Pinchorja Jhon, then two (2) months prior,
if your Payout Entity is outside the Caribbean and you are a consumer, micro-enterprise or charity, then two (2) months prior,
if your Payout Entity is in Jamaica, then thirty (30) days prior.

Termination right in case of amendments (all sellers)

If you do not agree to proposed changes, you may terminate these Payments Terms of Use, pursuant to Section 12 (“Term, Termination”) below, without any extra cost at any time before the effective date. We always publish the amended Payments Terms of Use on the Pinchorja website.

12. Term, Termination

These Payments Terms of Use are effective indefinitely, unless terminated in accordance with the below.

We may terminate these Payments Terms of Use by giving written notice fourteen (14) days prior or if Pinchorja Jhon or your Payout Entity, then two (2) months prior via email to your registered email address. However, we may also terminate these Payments Terms of Use on less notice or with immediate effect in the following scenarios:

We are required to do so by law or a court order,
A governmental authority requires us to do so to comply with anti-money laundering or counter-terrorism financing obligations,
We have reasonable grounds to believe you are carrying out a prohibited or illegal activity (including, but not limited to, financial crimes such as fraud, bribery, corruption money laundering, or sanctions violations),
We are unable to verify your or your business’s identity, or any other information pertaining to you, or
You are otherwise in breach of a material contractual obligation of these Payments Terms of Use, or seriously or persistently violating any provisions of these terms in any other way.

If Pinchorja Sarl or XXXX is your Payout Entity, you may terminate these Payments Terms of Use and close your payment account, without prejudice to the termination events foreseen above, by giving one (1) month notice by notifying Pinchorja preferably via email at info@pinchorja.com or by contacting the Customer Service via any of the available communication methods (e.g. Contact Us form, chat).

If you give notice of termination to one Pinchorja Payment Entity, such notice shall also be deemed as a termination notice to the remaining Pinchorja Payment Entities.

Your use of the Pinchorja Services as a seller requires continued registration for Managed Payments. Should you therefore terminate this agreement, you will not be able to use the Pinchorja Services provided by our Affiliates. Our Affiliates which provide you the Pinchorja Services according to the User Agreement may terminate the User Agreement pursuant to the termination provisions therein.

Termination of this Agreement shall not affect the rights or liabilities of either party accrued until termination and/or any terms intended (expressly or implicitly) to survive termination, including your obligation to pay amounts owed to us relating to your activities prior to termination and our right to collect from you such amounts in accordance with these Payments Terms of Use. If there are pending payment transactions at the time the termination takes effect, they will be processed pursuant to terms of these Payments Terms of Use unless prohibited by law. As of the effective date of the termination, you will not be able to sell any items on Pinchorja Services anymore.

13. Assignment

In our sole discretion, we may assign our rights and obligations under these Payments Terms of Use and, in such event, we will notify you accordingly.

II. ADDITIONAL TERMS FOR SERVICES PROVIDED BY Other Entity

In addition to the General Payments Terms above, the following provisions apply with respect to Payment Services you receive from Other Entity. Within this section, “we” or “us” refers to Other Entity.

As between you and Other Entity, these Payments Terms of Use incorporate by this reference the provisions of the User Agreement to the extent applicable to this agreement. In the event of any conflict between the User Agreement and these Payments Terms of Use, these Payments Terms of Use will govern.

We may change, discontinue, enhance, or modify features of Managed Payments at any time.

Receipt and Settlement of Funds

After a Managed Payments transaction occurs, you will receive a notification confirming such payment transaction. In certain instances, your transaction may be declined, frozen, or held for any reason including for suspected fraud, high risk or potential violation of any regulation, compliance with economic or trade sanctions, Pinchorja or a policy of one of our third-party payments services providers.

Unless subject to a hold in accordance with these Payments Terms of Use, proceeds from your sales on Pinchorja will typically appear in your payment summary (or your stored value account, if you have opened a stored value with with us) and become available for disbursement within one to two business days of confirming the buyer’s payment. In some cases (for example, if you are a new seller on Pinchorja ), funds may become available for disbursement after the items have been deemed delivered to their shipping destination as described in this help page. Once available for disbursement, proceeds will be aggregated in a batch settlement to your Linked Financial Account when you request an on-demand payout or upon the next date of your scheduled payout. Transaction proceeds will generally settle within three business days of initiating disbursement to you although actual settlement times may vary for individual transactions based on your bank’s processing times. Notwithstanding the foregoing, when you onboard to Managed Payments, we may initially place you on a different payout schedule (no less frequently than monthly) and will communicate the applicable payout schedule to you in My Pinchorja or Seller Hub.

We may diverge from this procedure as needed for compliance or operational reasons. If we are unable to settle the Managed Payments proceeds, then, depending on the reason why we are unable to settle the proceeds, we may refund the buyer or otherwise process these funds in accordance with applicable law, including abandoned property laws, such as by escheating funds to a governmental body after the passage of an applicable period of time, or our policies.

3. Authorization for Collection of Owed Amounts

You hereby authorize Pinchorja to debit or charge any Owed Amount from your Linked Financial Account or any other payment method you have on file with us, including your stored value account (if stored value has been issued to you). Your authorization will remain in full force and effect until the earlier occurrence of: our receipt from you of any written communication that revokes such authorization, or upon the closure or termination of your Pinchorja account.

To the extent permitted by law, you hereby irrevocably sell, assign, grant, convey and transfer to Pinchorja and its Affiliates, as applicable, all of your rights, title, and interests in any and all accounts receivable, payments of money, and general intangibles owed in your favor to satisfy any and all obligations or liabilities you owe to Pinchorja or its applicable Affiliate in connection with your use of Managed Payments and Pinchorja Services for the sale of goods or services to your Buyers.

4. Legal Disputes

PLEASE READ THIS SECTION CAREFULLY. IT AFFECTS YOUR RIGHTS AND WILL HAVE A SUBSTANTIAL IMPACT ON HOW CLAIMS YOU AND Other Entity HAVE AGAINST EACH OTHER ARE RESOLVED.

You and Other Entity Agents agree that any claim or dispute at law or equity that has arisen, or may arise, between you and Other Entity (or any related third parties) that relates in any way to or arises out of this or previous versions of these Payments Terms of Use, your use of or access to Managed Payments, or the actions of the entety or its agents, will be resolved in accordance with the provisions set forth in this Legal Disputes Section. Any translation of these Payments Terms of Use and all related documents is done for our users’ convenience and in the event of a dispute between the English and any Chinese-language versions, the English version of these Payments Terms of Use and all related documents shall govern.

A. Applicable Law

You agree that, except to the extent inconsistent with or preempted the Jamaican Laws, without regard to principles of conflict of laws, will govern these Payments Terms of Use and any claim or dispute that has arisen or may arise between you and other Entities, except as otherwise stated in these Payments Terms of Use.

B. Agreement to Arbitrate

You and Other Entity each agree that any and all disputes or claims that have arisen, or may arise, between you and Other Entity (or any related third parties) that relate in any way to or arise out of this or previous versions of these Payments Terms of Use, your use of or access to Managed Payments, the actions of Other Entity or its agents, or any products or services sold, offered, or purchased through the Services shall be resolved exclusively through final and binding arbitration, rather than in court. In this Legal Disputes Section, the term “related third parties” includes your and Other Entity’s respective affiliates, subsidiaries, parent companies, predecessors, successors, assigns, as well as your, Other Entity’s, and these entities’ employees and agents. Alternatively, you may assert your claims in small claims court, if your claims qualify and so long as the matter remains in such court and advances only on an individual (non-class, non-representative) basis. The Federal Arbitration Act governs the interpretation and enforcement of this Agreement to Arbitrate.

1. Prohibition of Class and Representative Actions and Non-Individualized Relief

YOU AND OTHER ENTITY AGREE THAT EACH OF US MAY BRING CLAIMS AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, OR REPRESENTATIVE OR PRIVATE ATTORNEY GENERAL ACTION OR PROCEEDING. UNLESS BOTH YOU AND OTHER ENTITY AGREE OTHERWISE, THE ARBITRATOR MAY NOT CONSOLIDATE OR JOIN MORE THAN ONE PERSON’S OR PARTY’S CLAIMS, AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A CONSOLIDATED, REPRESENTATIVE, CLASS, OR PRIVATE ATTORNEY GENERAL ACTION OR PROCEEDING. ALSO, THE ARBITRATOR MAY AWARD RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ONLY IN FAVOR OF THE INDIVIDUAL PARTY SEEKING RELIEF AND ONLY TO THE EXTENT NECESSARY TO PROVIDE RELIEF NECESSITATED BY THAT PARTY’S INDIVIDUAL CLAIM(S). ANY RELIEF AWARDED CANNOT AFFECT OTHER USERS. If a court dOther Entitydes that applicable law precludes enforcement of any of this paragraph’s limitations as to a particular claim or a particular request for a remedy (such as a request for injunctive relief), then that claim or that remedy request (and only that claim or that remedy request) must be severed from the arbitration and may be brought in court, subject to your and Other Entity’s right to appeal the court’s dOther Entitysion. All other claims will be arbitrated.

2. Arbitration Procedures

Arbitration is more informal than a lawsuit in court. Arbitration uses a neutral arbitrator instead of a judge or jury, and court review of an arbitration award is very limited. However, an arbitrator can award the same damages and relief on an individualized basis that a court can award to an individual. An arbitrator should apply the terms of these Payments Terms of Use as a court would. All issues are for the arbitrator to dOther Entityde, except that issues relating to arbitrability, the scope or enforceability of this Agreement to Arbitrate, or the interpretation of Section 1 of this Agreement to Arbitrate (“Prohibition of Class and Representative Actions and Non-Individualized Relief”), shall be for a court of competent jurisdiction to dOther Entityde.

If the matter is not resolved or Where no disclosed claims or counterclaims exceed $2,0000,000, the dispute shall be resolved by the submission of documents only, subject to the arbitrator’s discretion to require an in-person hearing, if the circumstances warrant. In cases where an in-person hearing is held, you and/or Other Entity may attend by telephone, unless the arbitrator requires otherwise.

The arbitrator will dOther Entityde the substance of all claims in accordance with applicable law, including recognized principles of equity, and will honor all claims of privilege recognized by law. The arbitrator shall not be bound by rulings in prior arbitrations involving different users, but is bound by rulings in prior arbitrations involving the same Other Entity user to the extent required by applicable law. The arbitrator’s award shall be final and binding and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.

3. Costs of Arbitration

Payment of all filing, administration and arbitrator fees will be governed by the AAA’s rules, unless otherwise stated in this Agreement to Arbitrate. If you complied with the Notice of Dispute procedures of Section 2 of this Agreement to Arbitrate (“Arbitration Procedures”) and the value of the relief sought is $10,000 or less, at your request, Other Entity will pay all administration, and arbitrator fees associated with the arbitration. Any request for payment of fees by Other Entity should be submitted by mail to the AAA along with your Demand for Arbitration and Other Entity will make arrangements to pay administration and arbitrator fees directly to the AAA. In the event the arbitrator determines the claim(s) you assert in the arbitration to be frivolous, you agree to reimburse Other Entity for all fees associated with the arbitration paid by Other Entity on your behalf that you otherwise would be obligated to pay under the AAA’s rules. Other Entity will pay as much of the filing, administration, and arbitrator fees as the arbitrator deems necessary to prevent the cost of accessing the arbitration forum from being prohibitive.

4. Severability

With the exception of any of the provisions in Section 1 of this Agreement to Arbitrate (“Prohibition of Class and Representative Actions and Non-Individualized Relief”), if an arbitrator or court dOther Entitydes that any part of this Agreement to Arbitrate is invalid or unenforceable, the other parts of this Agreement to Arbitrate shall still apply.

5. Opt-Out Procedure

IF YOU ARE A NEW USER OF OUR PAYMENT SERVICES, YOU CAN CHOOSE TO REJECT THIS AGREEMENT TO ARBITRATE (“OPT-OUT”) BY MAILING US A WRITTEN OPT-OUT NOTICE (“OPT-OUT NOTICE”). THE OPT-OUT NOTICE MUST BE POSTMARKED NO LATER THAN 30 DAYS AFTER THE DATE YOU ACCEPT THESE PAYMENTS TERMS OF USE FOR THE FIRST TIME. YOU MUST MAIL THE OPT-OUT NOTICE TO PINCHORJA .,. ANY SUCH OPT-OUT NOTICE ADDRESSED TO AND RECEIVED BY PINCHORJA WILL ALSO BE DEEMED TO BE RECEIVED BY OTHER ENTITY, IF SUCH OPT-OUT NOTICE REGARDS SERVICES OFFERED BY OTHER ENTITY.

For your convenience, we are providing an Opt-Out Notice form. You must complete and mail that to us in order to opt out of the Agreement to Arbitrate. You must complete the Opt-Out Notice form by providing the information called for in the form, including your name, address (including street address, city, Parish), and the user ID(s) and email address(es) associated with the Pinchorja Service account(s) to which the opt-out applies. You must sign the Opt-Out Notice for it to be effective. This procedure is the only way you can opt out of the Agreement to Arbitrate. If you opt out of the Agreement to Arbitrate, all other parts of these Payments Terms of Use and its Legal Disputes Section will continue to apply to you. Opting out of this Agreement to Arbitrate has no effect on any previous, other, or future arbitration agreements that you may have with us.

6. Future Amendments to the Agreement to Arbitrate

Notwithstanding any provision in the User Agreement or these Payments Terms of Use to the contrary, you and we agree that if we make any amendment to this Agreement to Arbitrate (other than an amendment to any notice address or site link provided herein) in the future, that amendment shall not apply to any claim that was filed in a legal proceeding against Other Entity prior to the effective date of the amendment. The amendment shall apply to all other disputes or claims governed by the Agreement to Arbitrate that have arisen or may arise between you and Other Entity. We will notify you of amendments to this Agreement to Arbitrate by posting the amended terms on www.Pinchorja .com at least 30 days before the effective date of the amendments and by providing notice through the Pinchorja Message Center and/or by email. If you do not agree to these amended terms, you may close your account within the 30-day period and you will not be bound by the amended terms.

C. Judicial Forum for Legal Disputes

Unless you and we agree otherwise, in the event that the Agreement to Arbitrate above is found not to apply to you or to a particular claim or dispute, either as a result of your dOther Entitysion to opt out of the Agreement to Arbitrate or as a result of a dOther Entitysion by the arbitrator or a court order, you agree that any claim or dispute that has arisen or may arise between you and Other Entity must be resolved exclusively by a court of Jamaica.

Expand Part V

1. Receipt and Settlement of Funds; Disabling Payment Methods

After a Managed Payments transaction occurs, you will receive a notification confirming such payment transaction. In certain instances, your transaction may be declined, frozen, or held for any reason including for suspected fraud or potential violation of any Pinchorja policies, or a policy of one of our third-party payments service providers.

Unless subject to a hold in accordance with these Payments Terms of Use, proceeds from your sales on Pinchorja will typically become available for disbursement within one to two business days of confirming the buyer’s payment. In some cases, funds may become available for disbursement after the item is deemed delivered to its shipping destination. Once available for disbursement, transaction proceeds will be aggregated in a batch for settlement to your Linked Financial Account upon the next date of your scheduled payout. Once we initiate disbursement, transaction proceeds will generally be settled to your Linked Financial Account within two business days after initiating disbursements to you, although actual settlement times may vary for individual transactions based on circumstances such as your bank’s processing times. However, we may diverge from this procedure as needed for compliance or risk reasons. If we are unable to settle your proceeds, then, depending on the reason why we are unable to settle your proceeds, we may refund the buyer (e.g., in the event that we cannot process your information for technical reasons etc.) or otherwise process these funds in accordance with applicable law.

We may disable spOther Entityfic payment method(s) available to buyers for all or some of your listings if we reasonably believe the use of such payment methods for your transactions will increase regulatory, financial, or other risk to us. For example, if you would like to offer a high-priced item with a new Pinchorja account, we may disable such payment methods where the amount is credited with a time delay after the transaction (e.g. Buy Now Pay Later- Not available as yet). In assessing the risk, we consider relevant factors such as your sales history, service status, Pinchorja account history, risks associated with certain item categories, transaction value, and number and monetary amounts of Pinchorja cases. We will re-enable the affected payment method(s) for your listings once the risk no longer exists.

2. Unsuccessful Direct Debits

We will charge your account an transaction fee by way of a separate debit for every debit transaction for an Owed Amount that is unsuccessful or returned unpaid by your financial institution. We shall have no liability to you whatsoever caused by a dishonored debit.

3. Legal Disputes

If a dispute arises between you and entity, our goal is to provide you with a neutral and cost-effective means of resolving the dispute quickly. We strongly encourage you to first contact us to seek a resolution. If your dispute is not resolved by contacting Customer Service, all legal notices and formal disputes should be sent to legal registered agent in accordance with the “Notices” section below. We will consider reasonable requests to resolve the dispute through alternative dispute resolution procedures, such as mediation or arbitration, as alternatives to litigation.

Law and Forum for Legal Disputes

These Payments Terms of Use will be governed in all respects by the laws of Jamaica. We encourage you to try and resolve disputes using certified mediation (such as online dispute resolution processes, or reliable legal entities).

Execution of Payment Transactions

When you, as a payee or payer, use Managed Payments, the payment transactions will be executed in accordance with the payment schemes rules and procedures, or as otherwise agreed.

Required Information

Your payer (for example, the buyer of an item you sell on Pinchorja ) must ensure we are provided with the data required for us to execute the payment transaction. If we do not have sufficient data to execute such transaction, we reserve the right to ask your payer’s payment service provider for the required information.

We require the following information for the execution of a payment transaction:

Your name,
Your Pinchorja username,
The buyer’s name (where applicable),
The buyer’s Pinchorja username, and any other data about the buyer which the buyer’s payment service provider or we may require (where applicable),

The currency of the payment transaction (if possible, in abbreviated form),
The amount of the payment transaction, and
The beneficiary’s payment details.

We may also require spOther Entityfic information, such as a one-time authorization code sent to your verified phone number or email address, to authenticate a payment transaction (or to allow you to access certain information related to Managed Payments on Pinchorja ).

To the extent reasonably possible, we will automatically utilize the information stored in our systems. Where the required information provided by you or your payer is not fully available or is inaccurate, we will not bear any liability for any damage, delay, or other consequence from the non-execution or defective execution of the relevant payment transaction.

Payment Condition of Payout Sales

Once the buyer has received the product/products purchased from you or your and the buyer has confirmed that there are no issues with the product(s) received, we require at least 7-10 business days to ensure that there are no claims for cash or product returns from the buyer and that all transactions are satisfactory and have completed the with all the policies and processes put in place.
It is implemented this way to protect all parties or entities involved in the purchase transactions, that includes Pinchorja Multicomerce Platform, the Seller, the Buyer, banks and other entities involved in the process.
Once this is confirmed, we will proceed to do the payouts to your account based on the banking details provided and confirmed accurate.
All due fees and charges are deducted or cleared out.

Receipt of Payment Orders

A payment order will be deemed to have been received by us if:

Carried out by means of a payment card, then in accordance with the card schemes rules; or
Received by our available electronic communication channels, then on the business day when it is actually received by us.

If the payment order is not received on a business day, it will be deemed to be received on the next business day. “Business days” in this Part III of these Payments Terms of Use shall mean the days on which banks in Jamaica are open for regular business.

You may not revoke a payment order after we have received it. However, if we have agreed that a payment order will be executed on a certain future date, the business day prior to this future date will be the latest you can revoke the payment order.

Refusal of Payment Orders

We reserve the right to refuse the execution of a payment order when:

The payment order information contains factual errors and/or is incomplete;

You have not satisfied your obligations under these Payments Terms of Use or any other agreement between you and us;
There are doubts about the validity of the instruction, or the identity or authority of the person giving the payment order; or
The payment order, if executed, would lead to a breach of the applicable rules, laws, or regulations.

We may charge a reasonable fee for such a refusal.

You acknowledge that when executing a payment transaction, we may have to disclose information mentioned above and your legal address to the other party’s payment service provider and, where relevant, also to intermediaries involved in the execution of the payment transaction. You expressly accept and instruct us to disclose such data.

Where you are the payer, the execution of the transaction may depend on us having received the respective amount from you prior to the execution.

3. Settlement of Funds

If we are your Payout Entity, we will initiate settlement of proceeds received to your Linked Financial Account. Your payments will generally be initiated either automatically according to the schedule you have pre-selected (if such scheduled payments are available to you) or “on demand” based on an individual payment instruction we receive from you. However, if your payment account is not configured to include a regularly scheduled settlement, we may periodically sweep available funds out of your payment account and send them to your Linked Financial Account.

Proceeds from the sales of private or non-professional sellers become available for disbursement after the item is deemed delivered to its shipping destination as detailed. If you are a business seller, as defined in our business seller policy, proceeds from your sales on Pinchorja typically become available for disbursement within 5 business days of confirming the buyer’s payment.

Unless subject to a hold as described in these Payments Terms of Use, funds that become available for disbursement will be aggregated in a batch for settlement to your Linked Financial Account in conformity with the payout schedule selected by you. For example, if you select weekly payouts, a single settlement will be initiated automatically once a week for all transactions available for disbursement to you on that day. If you request a payout on demand, a single settlement will be initiated for transactions available for disbursement to you on that day. Transaction proceeds will generally settle to your Linking Financial Account within two business days of initiating disbursement to you, although actual settlement times may vary for individual transactions depending on circumstances such as your bank’s processing times. We may diverge from the settlement process as needed for compliance or risk reasons. The balance on your payment account is not a deposit. You will not receive interest or any other earnings on the money held in your payment account.

If we are unable to settle your proceeds, then, depending on the reason why we are unable to settle your proceeds, we may refund the buyer (e.g., in the event that we cannot process your information due to technical reasons etc.) or otherwise process these funds in accordance with applicable law.

We will provide you with monthly statements of your transactions free of charge, which can be accessed in the Seller Hub.

4. Liability for Unauthorized Payment Transactions

You will be fully liable for all losses relating to an unauthorized payment transaction if you acted fraudulently with respect to such a payment transaction, or if you failed to fulfill one or more of the obligations under this agreement (such as keeping your credentials safe or notifying us without undue delay) with intent or gross negligence.

5. Our Liability

We will refund you in full and are liable for losses directly and reasonably foreseeably incurred by an incorrectly or non-executed payment transaction, provided that you have informed us of such transaction without undue delay after becoming aware of the defect and in no event later than thirteen (13) months after the transaction was executed, unless we failed to make information about the transaction available to you.

To the fullest extent permitted by applicable law, we and our Affiliates (and our and their respective employees, directors, agents and representatives) will not be liable for any direct lost profits, any indirect lost profits, or any spOther Entityal, incidental or consequential damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with these Payments Terms of Use or Managed Payments (including the inability to use Managed Payments). In addition, to the fullest extent permitted by applicable law, in no event will aggregate liability of us or our Affiliates (and our and their respective employees, directors, agents and representatives) arising out of or in connection with these Payments Terms of Use, the transactions contemplated hereby, or Managed Payments exceed the actual amount of direct damages (excluding direct loss of profits), whether in contract, tort (including negligence, product liability or other theory), warranty, or otherwise.

Without limiting the foregoing, in no event will we or any of our Affiliates be liable to you for any failure or delay by us (or our employees, agents, or representatives) in performing our obligations under these Payments Terms of Use, where such failure or delay is caused by abnormal and unforeseeable circumstances beyond our control, the consequences of which would have been unavoidable despite all reasonable efforts to the contrary, or where we are bound by other legal obligations covered by applicable law.

6. Shipping Labels

If buyers purchase a return shipping label at their own expense on the Pinchorja website, Pinchorja may automatically deduct the label costs from the refund amount a buyer receives from you. If this occurs, you agree (as a debtor to the buyer for the refund) to be delegated as a debtor to the shipping carrier for the label costs, and authorize us to use the relevant part of the refund amount to pay the shipping carrier on your behalf. You will not bear any additional shipping costs in this event.

7. Corrective Measures

If we become aware of suspected or actual fraud or other security threats affecting your Pinchorja account, we will notify you by email and provide you with instructions on how to protect such account.

Individuals

If you are an individual acting in your own capacity and not on behalf of a business, you may not use the Payment Services to receive or transfer funds on behalf of another natural person or a legal entity.

Complaints

Please send us all your complaints to info@pinchirja.com, we will communicate directly with you to resolve all your issues and make your business experience more effective and successful.

Communication

We will communicate with you in the language(s) in which we provided these Payments Terms of Use to you. You agree that we may give you notice or other information by posting it in your Pinchorja Account, emailing it to your registered email address, mailing it to your registered physical address, calling your phone number, or sending you mobile messages.

You may request a copy of any legally required disclosures (including these Payments Terms of Use) from us; we will then provide it to you in a format which allows you to store and reproduce the information (for example, by email) or, upon your request, on paper.

Governing Law and Jurisdiction

These Payments Terms of Use shall be governed by and construed in accordance with the laws of Jamaica. If you are acting as a consumer (rather than as a business) and if mandatory statutory consumer protection regulations in your country of residence contain provisions that are more beneficial for you, such provisions shall apply irrespective of the choice of English law.

As a consumer, you may bring any judicial proceedings relating to the General Payments Terms and these Additional Payments Terms for Payment Services provided by before the competent court of either your place of residence. If an entity wishes to enforce any of its rights against you as a consumer, we may do so only in the courts of the jurisdiction in which you are a resident. If you are acting as a business seller, you agree to submit to the exclusive jurisdiction of the courts of Jamaica.