Terms & Conditions

These Terms & Conditions (the “Flex Altitude Terms”) govern the Flex Altitude plan offered by Efficient Capital Labs Inc. (“ECL,” “we,” “us,” or “our”) and apply to customers who have enrolled in Flex Altitude. They supplement, and should be read together with, your Financing Agreement and our general Terms & Conditions.

These Flex Altitude Terms describe the Payment Flexibility feature. The benefits described here are provided in addition to, and over and above, the features available under the Flex Base tier (the tier below Flex Altitude). Your Flex Base entitlements continue to apply; these Flex Altitude Terms add to them and do not replace them.

The Payment Flexibility features available within Flex Altitude affect when you pay. They do not reduce your balance or forgive any amount. Your total obligation and the cost of your financing are governed by your Financing Agreement, which continues to apply except as expressly modified here. Your financing may take the form of a loan or a merchant cash advance, and these Flex Altitude Terms apply to either.

All Payment Flexibility options are request-based and require ECL’s review and confirmation before taking effect. Submitting a request does not modify your payment schedule automatically. Until you receive written confirmation from ECL, your existing schedule and due dates remain in effect and you remain responsible for all payments as originally scheduled. No changes are applied automatically.

1. Definitions

• Current / in good standing — Your account has no past-due amount (no payment is overdue) at the time of your request.
• Due date — The scheduled calendar date a given installment is owed.
• Payment cycle / installment — A single scheduled payment under your repayment schedule.
• Business day — Monday through Friday, excluding U.S. federal banking holidays.
• Relief option — Any Deferral, Skip-a-Pay, or Permanent Due Date Change described in these Flex Altitude Terms.
• Financing Agreement — Your underlying agreement with us, whether structured as a loan or a merchant cash advance.

2. General eligibility (applies to all options)

To request any option below, all of the following must be true at the time of your request:

1. You are an active Flex Altitude customer and have enrolled in the plan.
2. You have an active account with us and a valid, working payment (ACH) authorization on file.
3. Your account is current (no overdue payments).
4. You are not already enrolled in, or do not already have pending, another relief option on any of your financings, except as specifically permitted below.

3. When these options are not available

Regardless of anything else in these Flex Altitude Terms, Payment Flexibility options are not available, and any pending request may be declined or cancelled, if:

• Your financing is delinquent or otherwise past due in any amount;
• Your account is subject to an active bankruptcy proceeding or a confirmed fraud determination;
• You are currently enrolled in another payment-assistance restructuring arrangement with ECL; or
• Your bank payment authorization is inactive, revoked, or has been returned or flagged as unusable by your bank.

Approval of any option is at our discretion and subject to the eligibility rules below. Meeting the listed criteria does not guarantee approval.

4. Deferral

What it does: Moves a single upcoming payment to a later date — up to 14 calendar days after its originally scheduled due date.

Eligibility

• Your account must be current at the time of the request.
• Deferrals are not available during the first 60 days of scheduled payments on the financing.
• You may not have any other active or pending relief option — including a Deferral, Skip-a-Pay, or Permanent Due Date Change — on any of your financings at the time of the request.

When to request

• Requests must be submitted at least 2 business days before the payment’s due date.

Usage limits

• Up to 1 Deferral per financing within a 12-month term.
• Up to 2 Deferrals per customer within any 12-month period across all financings.
• A cooldown period of at least 60 days is required between Deferrals taken across two different financings.

How it works

• Once ECL confirms your request, the selected installment’s due date is moved forward by the number of days requested, up to a maximum of 14 calendar days.
• No late fee is charged for a Deferral that you complete on the new date.
• Important: If payment is not received by the new (deferred) due date, your account will be treated as past due, and the past-due period will be calculated from your original due date — not the deferred date.

5. Skip-a-Pay

What it does: Skip-a-Pay allows you to skip one full payment cycle. The skipped installment is added to the end of your repayment schedule, extending your financing term by one cycle.

Eligibility

• Your account must be current at the time of the request.
• Not available during the first half of your financing’s scheduled payment term.
• You may not have any other financing currently in a relief option ( Skip-a-Pay, or Deferral).
• You must have a valid payment authorization on file..
• Not available if a Deferral or Permanent Due Date Change is already scheduled within the same due-date window.

Usage limits

• Up to 1 Skip-a-Pay per financing.
• Up to 2 Skip-a-Pay events per customer within a rolling 12-month period across all active financings.

If you have more than one financing

• Skip-a-Pay requested in-app is allowed on one financing at a time.
• If you have two active financings, you may use Skip-a-Pay on one only. A second Skip-a-Pay or Deferral request on the other financing is not available in-app until the first relief period ends. You may, however, request it by emailing your sales point of contact.

Fees and how it works

• A Skip-a-Pay fee applies, equal to the fee amount of one regular scheduled payment on your financing. This fee is due on the original due date of the cycle you are skipping.
• Once we confirm your request, the skipped installment is removed from your near-term schedule and added to the end of your financing; your term extends by one cycle. Your scheduled amounts and fees continue to be calculated in accordance with your Financing Agreement.
• Important: If the Skip-a-Pay fee is not received by the original due date, the request will not take effect and your account will be treated as past due as of that due date.

6. Permanent Due Date Change

What it does: Changes the recurring day of the month your payment is due, going forward.

This option is request-based. Submitting a request does not modify your due date automatically. Your request will show as Pending Approval until ECL approves or declines it. Until you receive written confirmation, your existing due date remains in effect and you remain responsible for making payments as originally scheduled.

Eligibility

• You must have made at least 2 successful payments on the financing prior to submitting a request.
• Your account must be current at the time of the request.
• You may not have an active or scheduled Deferral or Skip-a-Pay.

Usage limits

• Up to 1 Permanent Due Date Change per customer in any 12-month period, regardless of the number or term length of your active financings.
• The new due date you select may be no more than 10 days from your current due date.
• Changes take effect on your next payment cycle or later — same-day changes are not available.

How to request

• Submit your preferred new due date and a brief reason for the change. ECL will review the request and notify you of approval or denial.

7. General terms

• No reduction of balance. None of these options forgive, reduce, or waive any amount owed under your Financing Agreement. These options adjust the timing of payments only.
• Your agreement continues. Except as expressly changed by an approved option, all terms of your Financing Agreement remain in full force.
• Payment authorization. By submitting a request under these Flex Altitude Terms, you reauthorize ECL to debit the adjusted amount or amounts on the adjusted date(s) from the bank account on file.
• No waiver. Our offering or approving one option does not obligate us to offer or approve any future request.
• Changes to these terms. We may modify, suspend, or discontinue any Payment Flexibility option, or the Payment Flexibility feature itself, at any time, subject to applicable law and your Financing Agreement.
• Discretion and accuracy. We may decline or reverse any option if eligibility requirements were not met, if information provided was inaccurate, or if your account status changes before the option takes effect.