Novo Payments Agreement

1. Authorization

You authorize Novo Platform Inc. (“Novo”) and its affiliates to initiate credits and debits to your designated Novo checking account in connection with any activity under this agreement. This includes, but is not limited to:

Disbursing payouts from payment processors;
Withdrawing amounts owed to Novo or a third party;
Making adjustments due to transaction errors, refunds, disputes, reversals, chargebacks, or any other correctional activity;
Handling funds subject to high-risk activity reviews;
Complying with actions by acquiring banks, card networks, or regulatory authorities;
Enforcing this agreement or applicable laws.

You authorize Novo to initiate such entries without prior notice, and to reverse any entry made in error. These debits and credits may occur at Novo’s discretion and as often as necessary.

You agree to maintain sufficient available funds in your account to satisfy any amounts owed under this agreement. You acknowledge that adjustments may affect your final payout balance and may result in a net debit to your account.

2. Nacha Compliance

You agree to be bound by the Nacha Operating Rules, including those applicable to the origination of transactions. This includes authorizing Novo to initiate entries in accordance with those rules.

3. Use of Novo Payments

You authorize Novo to use your designated Novo checking account to receive all payouts, transfers, or credits associated with your use of Novo’s payment services and products.

By completing the Novo Payments setup you acknowledge that you have read and agree to the terms of this agreement, the Stripe Payment Processor Agreement, Novo’s Privacy & Security Policy and Novo’s E-sign and Electronic Communications Agreement. Links to these agreements are displayed at setup.

4. Prohibited Use

You agree not to misuse the service or engage in any prohibited conduct, including but not limited to:

Any activity that compromises the security or integrity of the platform;
Violations of any applicable federal, state, or local laws or regulations;
Unauthorized access, reverse engineering, or fraudulent behavior.

Novo may suspend or terminate your access to the service without notice for any violation of this section.

5. Holds and Disputes

In the event of a dispute involving your account or transactions processed through the service:

Novo may place a hold on funds pending review and resolution of the dispute. Funds held will not be available for withdrawal or use.
If a dispute is resolved in Novo’s favor, or in favor of a third party, you authorize Novo to debit your account for the disputed amount without further notice.
You authorize Novo to make any financial adjustments necessary in connection with refunds, chargebacks, overpayments, underpayments, or errors.
Novo may provide notice of any holds, debits, or adjustments applied to your account in connection with a dispute or other activity.
You are responsible for ensuring that your account contains sufficient funds to cover such amounts.

These actions are necessary for Novo to comply with applicable law, risk policies, and the terms of this agreement.

6. Fees

You acknowledge and agree that:

Any fees applicable to your use of Novo’s payment services—including but not limited to dispute management fees, or other service-related charges—will be disclosed in the Payment sections of the Invoice Settings and the Create Invoice pages of your account.
Novo reserves the right to update applicable fees at any time, and such changes will apply prospectively. You are responsible for reviewing the fees disclosures to stay informed of applicable charges.

7. Representations and Warranties

You represent and warrant that:

You are a business owner or duly authorized representative using the services for commercial/business purposes;
You will use the services in full compliance with this agreement and all applicable laws, rules, and regulations;

You will not use the services in a fraudulent, abusive, or disruptive manner.