Accounts Payable Terms
For users of Accounts Payable
I. General
Efficient Capital Labs, Inc. ("Efficient Capital Labs," "we," "our" or "us") enables businesses to approve and schedule payments from their business bank account to their vendors and other payees through the Site (the "Accounts Payable Services"). Each payment made through the Accounts Payable Services is a "Payment." The Accounts Payable Services are available only for business purposes and only from business bank accounts.
These Accounts Payable Terms apply to your use of the Accounts Payable Services, together with our Terms of Use (https://www.ecaplabs.com/legal/terms-and-conditions), which are incorporated herein by reference. If there is a conflict, these Accounts Payable Terms control for the Accounts Payable Services.
II. Fees
Any fees for a Payment, including any fee charged when a debit from your bank account is returned, reversed or not paid (a "Returned-Payment Fee"), are shown to you on the Platform before you approve the Payment. By approving a Payment, you agree to pay the fees shown for it. We will not charge a fee that was not shown to you before you approved the Payment.
III. Cancellations
You may edit or cancel a Payment on the Platform before the cut-off time shown on the Platform. After the cut-off, the Payment may not be stopped.
IV. Refunds
Once a Payment has been sent to the payee, it cannot be reversed. Any error in a Payment you approved must be resolved directly with the payee. If a Payment cannot be completed, the amount debited for it will be returned to your bank account within seven (7) business days, and any related fees will be refunded. All other fees are non-refundable. For questions about a Payment, contact us at payment-support@ecaplabs.com.
V. Payment Processing
Payments are processed by Straddle Payments, Inc. ("Straddle"), our third-party payment service provider. By using the Accounts Payable Services, you also agree to the Straddle Payment Services Agreement, available at https://legal.straddle.com/legal/straddle-payment-services-agreement. We may change our payment service provider by updating these Accounts Payable Terms.