CloudFran Unified Payments + Marketplace Addendum (Fintech, Marketplace, Settlement, Compliance)
1. Scope
This Addendum governs all payment processing, marketplace transactions, settlements, transfers, and financial operations conducted through CloudFran, including Exchange, QRPay, Omnitopia, and CloudMeMoney.
2. Platform Role
CloudFran operates as a technology platform and is not a bank, money transmitter, or payment processor. Payment services are provided through third-party providers such as Stripe.
3. Merchant of Record
Unless explicitly stated, the merchant or seller is the merchant of record and is solely responsible for taxes, fulfillment, refunds, and compliance.
4. Payments and Settlement
All payments are processed via third-party providers. Settlement timing, availability of funds, and payouts are subject to provider terms.
5. Fees
CloudFran charges platform fees (e.g., 3.5% + $0.75 per transaction) in addition to third-party processing fees. Fees are non-refundable.
6. Transfers and Revenue Sharing
CloudFran may facilitate revenue splits between platform and merchants using provider tools such as separate charges and transfers.
7. Chargebacks and Disputes
Users are responsible for all disputes and chargebacks. CloudFran may assess fees equivalent to processor dispute fees (e.g., $15).
8. Marketplace Transactions
In marketplace environments, CloudFran is not a party to transactions between buyers and sellers and is not responsible for product quality or delivery.
9. Refunds
Refunds are issued by the merchant. CloudFran fees are not refunded unless required by law.
10. KYC and Compliance
Users may be required to complete identity verification (KYC/KYB) and comply with anti-money laundering (AML) regulations.
11. Prohibited Activities
Users may not engage in illegal, fraudulent, or restricted activities as defined by payment providers and applicable law.
12. Tax Reporting
Users are responsible for all tax obligations, including reporting requirements such as 1099-K where applicable.
13. Data Security
CloudFran follows SOC2-aligned practices. Payment data is handled by certified processors.
14. International Transactions
Cross-border transactions may involve additional fees, currency conversion, and regulatory requirements.
15. Liability
CloudFran is not liable for financial losses, payment delays, processor errors, or regulatory actions.
16. Data Usage
Transaction data may be used for analytics, fraud detection, and platform optimization.
17. Governing Law
This Addendum is governed by Delaware law with Georgia enforceability considerations.