Form of Agent Services Appointment Acknowledgment
Last updated on August 24, 2022
This ACKNOWLEDGMENT OF AGENT SERVICES APPOINTMENT (“Agent Appointment”) is made and entered into between The Currency Cloud Inc., a company incorporated in the state of Delaware, with a principal place of business at 104 5th Avenue 20th Floor, New York, NY 10011 (“Currencycloud”), and you.
Appointment of Agent
You acknowledge and agree that Currencycloud is appointed your agent to receive on your behalf, in a bank account in the United States, funds due to you directly from third parties. Currencycloud shall receive such funds as your agent and shall transmit such funds to [Client name] after which [Client name] shall make these funds available to you. You agree and understand that such funds received on your behalf shall be deemed received by Currencycloud with the automatic instruction to settle such funds to [Client name]. You agree and understand that the receipt of funds by Currencycloud from a Payer (“Payer” means a third party that sends funds to Currencycloud on your behalf), pursuant to instructions you have provided the Payer, satisfies the Payer’s obligation to you.
Term and Termination
This Agent Appointment shall commence on the same date on which you agree to this Addendum and shall expire coincident with the expiration of the agreement between [Client name] and you unless terminated earlier by Currencycloud in its sole discretion.
Representation and Warranties
You represent and warrants that you have (i) the full authority to enter into and perform your obligations under this Agent Appointment and (ii) read this Agent Appointment, understand the same, and agree to be bound by all the terms, conditions and provisions of this this Agent Appointment.
Notwithstanding anything to the contrary in your agreement with [Client name], this Agent Appointment shall be governed by and interpreted in accordance with the laws of New York without regard to its principles of conflicts of law, and regardless of your location.