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Piggy the Bank User Agreement

Last Update: July 2, 2015

This Agreement contains fifteen sections.

This User Agreement ("Agreement") is a contract between you and Piggy the Bank and applies to your use of the Piggy the Bank Services.

You must read, agree with and accept all of the terms and conditions contained in this Agreement.

We may amend this Agreement at any time by posting a revised version on our website. The revised version will be effective at the time we post it. In addition, if the revised version includes a Substantial Change, we will provide you with 30 Days' prior notice of any Substantial Change by posting notice on our website.

This is an important document which you must consider carefully when choosing whether to use the Piggy the Bank Services.

1. Our Relationship with You.

1.1 Piggy the Bank is an E-Commerce Marketplace. Piggy the Bank helps you setup a Goal and Payment Schedule to pre-pay for a future purchase and then connects you with Piggy the Bank Sellers when you are ready to make your purchase. Piggy the Bank is an independent contractor for all purposes, except that Piggy the Bank acts as your agent with respect to the custody of your funds and the Sellers it connects you with. Piggy the Bank does not have control of or liability for the products or services that are paid for with the Piggy the Bank Services. We do not guarantee the identity of any User or ensure that a Buyer or a Seller will complete a transaction.

1.2 Your Privacy. Protecting your privacy is very important to Piggy the Bank. Please review our Privacy Policy in order to better understand our commitment to maintaining your privacy, as well as our use and disclosure of your Information.

1.3 Privacy of Others; Marketing. If you receive Information about another User through the Piggy the Bank Services, you must keep the Information confidential and only use it in connection with the Piggy the Bank Services. You may not disclose or distribute a User's Information to a third party or use the Information for marketing purposes unless you receive the User's express consent to do so. You may not send unsolicited email to a User or use the Piggy the Bank Services to collect payments for sending, or assisting in sending, unsolicited email to third parties.

1.4 Intellectual Property. "PiggytheBank.com," "Piggy the Bank," and all logos related to the Piggy the Bank Services are either trademarks or registered trademarks of Piggy the Bank or its licensors. You may not copy, imitate or use them without Piggy the Bank's prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of Piggy the Bank. You may not copy, imitate, or use them without our prior written consent. You may use HTML logos provided by Piggy the Bank through our services and tools features or affiliate programs without prior written consent for the purpose of directing web traffic to the Piggy the Bank Services. You may not alter, modify or change these HTML logos in any way, use them in a manner that is disparaging to Piggy the Bank or the Piggy the Bank Services or display them in any manner that implies Piggy the Bank's sponsorship or endorsement. All right, title and interest in and to the Piggy the Bank website, any content thereon, the Piggy the Bank Services, the technology related to the Piggy the Bank Services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of Piggy the Bank and its licensors.

1.5 Assignment. You may not transfer or assign any rights or obligations you have under this Agreement without Piggy the Bank's prior written consent. Piggy the Bank reserves the right to transfer or assign this Agreement or any right or obligation under this Agreement at any time.

1.6 Password Security and Keeping Your Email and Address Current. You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access the Piggy the Bank Services. You are also responsible for keeping your email address and street address up to date in your Account Profile.

1.7 Notices to You. You agree that Piggy the Bank may provide communications about your Account and the Piggy the Bank Services to you by posting it on our website, emailing it to the email address listed in your Account Profile, or mailing it to the street address listed in your Account Profile. Such communication shall be considered to be received by you within 24 hours of the time we post it to our website or email it to you, or within 3 Business Days after we send it to you by postal mail.

1.8 Notices to Piggy the Bank. Except as otherwise stated below in Section 11 (Resolution Procedures for Unauthorized Transactions and Processing Errors) and Section 13 (Disputes with Piggy the Bank), notice to Piggy the Bank must be sent by postal mail to: Piggy the Bank Attention: Legal Department, 952 Queen St W. Toronto, Ontario

1.9 Calls to You; Mobile Telephone Numbers. By providing Piggy the Bank a telephone number (including a mobile telephone number), you consent to receiving autodialed and prerecorded message calls from Piggy the Bank at that number. If we determine that a telephone number you have provided to us is a mobile telephone number, we may categorize it as such in our systems and in your Account Profile, and you consent to receive text messages from us about your use of the Piggy the Bank Services at that number.

1.10 Taxes. All fees related to the Piggy the Bank Services are made free and clear of, and without any deduction or withholding for and on account of, any taxes, duties or other deductions. Any such deduction or withholding, if required by the laws of any country, shall be on your account and be borne by you.

2. Accounts.

2.1 Eligibility. To be eligible to use the Piggy the Bank Services, you must be at least 18 years old and a resident of Canada. This Agreement applies only to Users who are residents of Canada. If you are a resident of another country, you not use this service at this time.

2.2 Personal and Business Accounts; Types of Transactions. We offer two different types of Accounts: Buyer or Personal Accounts and Seller or Business Accounts. By opening a Business Account and accepting the terms as outlined in this Agreement, you attest that you are not establishing the Account primarily for personal, family, or household purposes.

You may make purchases from, and make payments into, your Account, as described in more detail in Section 3 (Making Purchases) and Section 4 (Goals & Payments). You may also add money to your Balance using an available Payment Method, as described in more detail in Section 4.

2.3 Identity Authentication. You authorize Piggy the Bank, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information that will allow us to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying your Information against third party databases or through other sources. We may also ask to see your driver’s licence or other identifying documents at any time. If you use certain Piggy the Bank Services, federal law requires that Piggy the Bank verify some of your information. Piggy the Bank reserves the right to close, suspend, or limit access to your Account and/or the Piggy the Bank Services in the event we are unable to obtain or verify this information.

2.4 Credit Report Authorization. If you open a Business Account, you are providing Piggy the Bank with written instructions and authorization to obtain your personal and/or business credit report from a credit reporting agency. You are also authorizing Piggy the Bank to obtain your personal and/or business credit report: (a) when you upgrade your Personal Account to a Business Account, (b) when you request a product for which Piggy the Bank requires a review of your credit report, or (c) at any time Piggy the Bank reasonably believes there may be an increased level of risk associated with your Business Account.

2.5 Third Party Permissions. If you grant express permission to a third party to take specific actions on your behalf, or access particular information about your Account, either through your use of the third party’s product or service or through your Account Profile, you acknowledge that Piggy the Bank may disclose the information about your Account that is specifically authorized by you to this third party. You also acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold Piggy the Bank responsible for, and will indemnify Piggy the Bank from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant. You may change or remove these permissions at any time by changing your settings in your Account Profile.

3. Making Purchases.

3.1 Purchase Limits. We may, at our discretion, impose limits on the amount of money you can send through the Piggy the Bank Services, including money you send for purchases.

3.2 Default Purchase Methods. When you make a purchase, Piggy the Bank will fund your transaction in this order:

Total Goal Balance from Goal where the Offer Listing presides.
Payment from a select payment source

3.3 Offers. Piggy the Bank allows you to make purchases in the form of an Offer Listing that is sent to you from Piggy the Bank Sellers. Offers will be sent to Users without permission as long as the Goal is Active. An Offer Listing will contain the following:

Offer Name
Sale Price
Description
A shipping and/or pickup method and policy for such method
An expiry date
Return policy
Offer Number ID
Seller’s Name

Should there be any discrepancy or error listed in the Offer, you may notify Piggy the Bank in writing through our contact page, please include the Offer Number ID.

3.4 Offer Acceptance. After you have accepted an Offer we will transfer the Total Offer Price to the Seller. The refund or return policy from the Offer Listing will become active, ie. Whatever is written as the Sellers Return Policy in the Offer Listing. Piggy the Bank’s Goal Payment Refund Policy is no longer valid.

3.5 Goal Status Completed. After you have accepted an Offer and completed the purchase, your Goal’s status will be marked as completed you will no longer receive Offers for that specific Goal.

3.6 Offer Errors prior to Offer Acceptance. If there is a dispute in which the Offer contains an error, the Piggy the Bank Seller will have the opportunity to retract, cancel or correct the Offer at their discretion prior to Offer Acceptance within the first 24 hours of posting the Offer Listing without penalty. After this period, the Offer may be cancelled but any fees the Seller incurred will be non-refundable.

3.7 Offer Errors after Offer Acceptance. If the Seller finds that the Offer contains an error and the Buyer has already accepted the Offer, the Seller may retract the Offer or may make changes to the Offer. The Buyer has a right to retract the Offer based on the new changes or accept the Offer with the new changes. If they chose to retract the Offer they will not be held accountable for any fees associated with the Offer and will have any funds placed back into their Goal.

3.8 Refused and Refunded Purchases. When you send money, the Seller is not required to accept it. You agree that you will not hold Piggy the Bank liable for any damages resulting from a Seller’s decision not to accept a payment made through the Piggy the Bank Services. Any unclaimed, refunded or denied payment will be returned to your Balance or to the original Payment Method. We will return any unclaimed payment to you within 30 Days of the date you initiated payment.

3.9 Money Back Guaranteed on Purchases policy. Piggy the Bank will guarantee that you get the item you purchased or your money back. You will need to take the following steps:

If your item hasn’t arrived or isn’t as described, get in touch with your Seller through the Offer Listing.
If your issue’s not resolved in 3 business days, contact us and You’ll hear from us in 48 hours.
You’re eligible as long as you contact your seller within 30 days of the latest estimated delivery date.

3.10 Overpayment. Piggy the Bank considers overpayment when you accept on Offer that is less than the Total Goal Balance in your Goal. The difference between the Sale Price and Total Goal Balance and Transactions Fees is considered the Overpayment Amount (Total Goal Balance – Sales price -Transaction Fees = Overpayment Amount). Piggy the Bank will return the Overpayment Amount to the Buyer within 30 days of Offer Acceptance. This payment will be sent through the Payment Source that was chosen by the Buyer or we may apply the Overpayment Amount to a new Goal.

3.11 Overpayment Transaction Fees. There maybe Overpayment transaction fees incurred from us refunding the Overpayment Amount. You agree to a transaction fee of $0.30 + 2.9% of the Overpayment Amount.

4. Goals & Payments.

4.1 Goals. Piggy the Bank allows you to create Goals with the intention for you to make future purchases from any Piggy the Bank Sellers. Goals are based on the following parameters:

You may create multiple Goals in your Account
You may create a Goal for any Product available from the Product Catalogue.

For each Goal you create specific parameters, and/or pre-set parameters and/or preferences such as:

Total Payment Amount
You may choose a Product within Product Catalogue
Number of Payments
Payment Frequency. Currently this is defaulted to Weekly payments.
other preferences/choices for your Goal including but not limited to, Brands you like, Colour specific choices, Sizes and other specifics related to the Product choice.
Payment Source

4.2 Goal Limits. It is at the discretion of Piggy the Bank to impose limits or changes to Goals in the following ways:

The amount of Goals you create
Payment Amounts
Number of Payments
Payment Frequency
Payment Source
Payment Schedule
Preferences, Features and/or any choices made toward your Goal

Piggy the Bank can impose changes to your Goal at any time without reason or notice, unless the changes imposed reflect changes to any Complete Payment you have already made toward your Goal, in which case we will provide you with notice.

4.3 Goal Payments. Piggy the Bank allows you to pay money into your Goal as set by you within your Goal preferences. Money paid into your Goal is a pre-payment only for future purchases from any Piggy the Bank Sellers. In consideration for your use of Piggy the Bank’s Goal Creation process identified to you by the Goal Name and Confirmation Code, you irrevocably transfer and assign to Piggy the Bank custody of any money that you pay into your Goal. Money paid into your Goal is refundable as stated in the Goal Payment Refund Policy (4.12).

No deposit account, credit line or overdraft protection is associated with your Goal. No interest, dividends, or any other earnings on money paid into your Goal will accrue or be paid or credited to you by Piggy the Bank. The value associated with a Piggy the Bank Goal is not insured by either the Canadian Deposit Insurance Corporation (CDIC) or the Federal Deposit Insurance Corporation (FDIC). Piggy the Bank reserves the right not to accept, load, reload or re-issue any Piggy the Bank Goal or otherwise limit the use of a Piggy the Bank Goal if we reasonably believe that the use is unauthorized, fraudulent, or otherwise unlawful.

4.4 Payment Review. Payment Review is a process by which Piggy the Bank reviews certain potentially high-risk transactions. If a payment is subject to Payment Review, Piggy the Bank will place a hold on the payment and provide notice to the Seller to delay shipping of the item. Piggy the Bank will conduct a review and either clear or cancel the payment. If the payment is cleared, Piggy the Bank will provide notice to the Seller to ship the item. Otherwise, Piggy the Bank will cancel the payment and the funds will be returned to the buyer. All payments that clear Payment Review will be eligible for coverage under Piggy the Bank Seller protection if they meet the Piggy the Bank Seller protection requirements. Piggy the Bank will provide notices to you by email and in your Account Profile.

4.5 Risk of Reversals, Chargebacks and Claims. When you receive a payment, you are liable to Piggy the Bank for the full amount of the payment sent to you plus any Fees if the payment is later invalidated for any reason. This means that, in addition to any other liability, you will be responsible for the amount of the payment sent by the sender, plus the applicable Fees listed in Section 7 (Fees) of this Agreement if you lose a Claim or a Chargeback, or if there is a Reversal of the payment. You agree to allow Piggy the Bank to recover any amounts due to Piggy the Bank by debiting your Balance. If there are insufficient funds in your Balance to cover your liability, you agree to reimburse Piggy the Bank through other means. If a Buyer files a Chargeback, the payment source, not Piggy the Bank, will determine who wins the Chargeback.

4.6 Refund and Reversal Currencies. All refunds and reversals will be made in the same currency as the original transaction. If your transaction must be refunded or reversed and you do not have the correct currency available in your Balance, a currency conversion will be performed.

4.7 Refund and Reversal to Payment Source. All refunds and reversals will be made in the same Payment Source account it was taken from. If the Payment Source for some reason is no longer available, it is at the discretion of Piggy the Bank as to how it will refund and/or reverse the payment.

4.8 Refund and Reversal Fees from PayPal Payment Source. If using Paypal as your Payment Source, all refunds and reversals within 60 days of the Transaction Date may not incur any fee from Piggy the Bank. After 60 days, the fee may increase to $0.30 + 2.9% of the refunded amount. The fee amount will be deducted from your refunded amount.

4.9 No Surcharges. As a Piggy the Bank Seller you agree that you will not impose a surcharge or any other fee for accepting Piggy the Bank as a payment method. You may charge a handling fee in connection with the sale of goods or services, as long as the handling fee does not operate as a surcharge and is not higher than the handling fee you charge for non-Piggy the Bank transactions.

4.10 Taxes. As a Piggy the Bank Seller you agree It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. Piggy the Bank is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.

4.11 Mandatory Refund Policy for Sellers. As a Piggy the Bank Seller it is mandatory that you have a published return policy with your Offer Listing, we also recommend having a published privacy policy on your Offer listing.

4.12 Refund Policy for Goal Payments. All Completed Payments towards your Goal are 100% refundable by clicking the “Refund” link and following the procedures in your Goal Transaction Page except under the following conditions:

When Piggy the Bank incurs transactional fees from your Payment Source due to the Goal Payment. In this case we would not refund the payment in its entirety instead we would deduct the transaction fee incurred and refund the leftover amount from the payment. (See section 4.8 for applicable fees from Paypal)
Offer Acceptance (See section 3.4). In this case we would not refund the Goal Payment because you have authorized us to transfer the funds to the Seller after accepting an Offer to purchase something.
Overpayment Amount, In the case we would refund any Overpayment Amount less the transaction fees (see section 3.10 and 3.11).
User Account inactivity for a period of 3 years from the last login date will make the Goal Payment non-refundable.

5. Account Balances.

5.1 Balances. You do not need to maintain a Balance in your Account and in your Goals. If you do hold a Balance, Piggy the Bank will hold your funds separate from its corporate funds, and it will not use your funds for its operating expenses or for any other corporate purposes. Piggy the Bank will not voluntarily make your funds available to its creditors in the event of bankruptcy. While your funds are in our custody, Piggy the Bank will combine your funds with the funds of other Users and place those pooled funds into Pooled Accounts with one or more banks. These Pooled Accounts will be held in Piggy the Bank's name for the benefit of its collective Users.

5.2 Assignment of Interest to Piggy the Bank. You agree that you will not receive interest or other earnings on the funds that Piggy the Bank handles as your agent and places in Pooled Accounts. In consideration for your use of the Piggy the Bank Services, you irrevocably transfer and assign to Piggy the Bank any ownership right that you may have in any interest that may accrue on funds held in Pooled Accounts. This assignment applies only to interest earned on your funds, and nothing in this Agreement grants Piggy the Bank any ownership right to the principal of the funds you maintain with Piggy the Bank. In addition to or instead of earning interest on Pooled Accounts, Piggy the Bank may receive a reduction in fees or expenses charged for banking services by the banks that hold your funds.

5.3 Negative Balances and Multiple Currencies. If your Account has a negative Balance, Piggy the Bank may setoff the negative Balance with any funds that you subsequently receive into your Account. If you have multiple currency Balances in your Account and one of the currency Balances becomes negative for any reason, Piggy the Bank may setoff the negative Balance by using funds you maintain in a different Goal Balance, or by deducting amounts you owe Piggy the Bank from money you subsequently add or receive into your Account.

5.4 Risks of Maintaining Balances in Multiple Currencies. You are responsible for all risks associated with maintaining Balances in multiple currencies. You agree that you will not attempt to use multiple currencies for speculative trading.

5.5 Setoff of Past Due Amounts. If you have a past due amount owed to Piggy the Bank which amount is not the subject of a dispute, Piggy the Bank may debit your Account to pay any amounts that are more than 180 Days past due.

5.6 Security Interest. To secure your performance of this Agreement, you grant to Piggy the Bank a lien on and security interest in and to the funds held in your Account in the possession of Piggy the Bank.

6. Closing Your Account.

6.1 How to Close Your Account. You may close your Account at any time by contacting Piggy the Bank in writing. You must refund your Balance prior to closing your Account.

6.2 Limitations on Closing Your Account. You may not close your Account to evade an investigation. If you attempt to close your Account while we are conducting an investigation, we may hold your funds for up to 180 Days to protect Piggy the Bank, its affiliates, or a third party against the risk of Reversals, Chargebacks, Claims, fees, fines, penalties and other liability. You will remain liable for all obligations related to your Account even after the Account is closed.

7. Fees.

7.1 Fees Overview. As a Buyer on Piggy the Bank, we intend to not charge you any fees for Goal Payments and Purchases. At the time of purchase the Seller may cover the fees the Buyer has incurred. In most cases you will not be subject to transaction fees or other fees unless you request a Refund or Reversal whereby Piggy the Bank incurs fees from this request. Fees will be deducted from the Balance in your Goal and/or Account.

For Goal Payments and Purchases, the following applies:

The Fee depends on the Payment Source you use, it is at your own discretion to check with the selected Payment Source of any fees involved in using them for Payments and Refunds.
The Fee maybe paid by both the Buyer and the Seller
The Buyer generally does not pay any fees unless there is a refund or reversal provided after 60 days of the Transaction Date. If you send a Payment to Piggy the Bank from a third party (non-Piggy the Bank) website or by using a third party’s product or service, then the third party will determine if the Buyer or Seller recipient of the Payment will pay a Fee. This will be disclosed to you by the third party before the Payment is initiated.
Additional Fees may apply if you are sending or receiving money to or from a country outside Canada, or transacting in a foreign currency, it is at your discretion to check with your Payment Source.
If you use your credit card as the Payment Method for a Payment, you may be charged a cash-advance fee by your credit card company.
Payments may not be available on non-Piggy the Bank websites or other applications that offer you the ability to send a payment to and from your Goal and/or Account.
Payments may not be sent to recipients in certain countries.
Overpayments (see section 3)

8. Restricted Activities.

8.1 Restricted Activities. In connection with your use of our website, your Account, the Piggy the Bank Services, or in the course of your interactions with Piggy the Bank, other Users, or third parties, you will not:

Breach this Agreement or any other agreement or policy that you have agreed to with Piggy the Bank;
Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising);
Infringe Piggy the Bank’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
Sell counterfeit goods;
Act in a manner that is defamatory, trade libelous, threatening or harassing;
Provide false, inaccurate or misleading information;
Send or receive what we reasonably believe to be potentially fraudulent funds;
Refuse to cooperate in an investigation or provide confirmation of your identity or any Information you provide to us;
Attempt to double dip during the course of a dispute by receiving or attempting to receive funds from both Piggy the Bank and the Seller, bank or credit card issuer for the same transaction;
Control an Account that is linked to another Account that has engaged in any of these Restricted Activities;
Conduct your business or use the Piggy the Bank Services in a manner that results in or may result in complaints, Disputes, Claims, Reversals, Chargebacks, fees, fines, penalties and other liability to Piggy the Bank, other Users, third parties or you;
Have a credit score from a credit reporting agency that indicates a high level of risk associated with your use of the Piggy the Bank Services;
Use your Account or the Piggy the Bank Services in a manner that Piggy the Bank, Interact, PayPal, Visa, MasterCard, American Express, Discover or any other electronic funds transfer network reasonably believes to be an abuse of the card system or a violation of card association or network rules;
Allow your Account to have a negative Balance;
Provide yourself a cash advance from your credit card (or help others to do so);
Take any action that imposes an unreasonable or disproportionately large load on our infrastructure; facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or Information; use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our website without our prior written permission; or use any device, software or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with our website or the Piggy the Bank Services;
Take any action that may cause us to lose any of the services from our Internet service providers, payment processors, or other suppliers;
Use the Piggy the Bank Services to test Payment Source behaviors; or
Allow your use of the Piggy the Bank Services to present to Piggy the Bank a risk of non-compliance with Piggy the Bank’s anti-money laundering, counter terrorist financing and similar regulatory obligations (including, without limitation, where we cannot verify your identity or you fail to complete the steps to lift your sending, receiving or withdrawal limit in accordance with Sections 3 and 4)

9. Your Liability - Actions We May Take.

9.1 Your Liability.

General. You are responsible for all Reversals, Chargebacks, Claims, fees, fines, penalties and other liability incurred by Piggy the Bank, a User, or a third party caused by or arising out of your breach of this Agreement, and/or your use of the Piggy the Bank Services. You agree to reimburse Piggy the Bank, a User, or a third party for any and all such liability.
Liability for Claims under Piggy the Bank Purchase Protection. If you are a Seller and Piggy the Bank makes a final decision that you lose a Claim filed directly with Piggy the Bank, you will be required to reimburse Piggy the Bank for your liability. Where you receive payment from a Piggy the Bank Account holder in another country and we determine under the Piggy the Bank Buyer Protection Policy of that country that the funds received should be returned or reversed, you will be subject to that country’s Piggy the Bank Buyer Protection Policy and required to reimburse Piggy the Bank for your liability (before receiving payment from a Piggy the Bank Account holder in another country, you should review the relevant Piggy the Bank Buyer Protection Policies accessible via the “Legal” or “Legal Agreements” footer on most Piggy the Bank site pages). Your liability will include the full purchase price of the item plus the original shipping cost (and in some cases you may not receive the item back). You will not receive a refund of your Piggy the Bank fees. Piggy the Bank Seller protection may cover your liability—see Section 10 (Protection for Sellers) below.

If a buyer files a Significantly Not as Described (SNAD) Claim for an item they purchased from you, you will generally be required to accept the item back and refund the buyer the full purchase price plus original shipping costs. You will not receive a refund on your Piggy the Bank fees. Further, if you lose a Claim because we, in our sole discretion, reasonably believe the item you sold is counterfeit, you will be required to provide a full refund to the buyer and you will not receive the item back (it will be destroyed). Piggy the Bank Seller protection will not cover your liability.

9.2 Reimbursement for Your Liability. In the event that you are liable for any amounts owed to Piggy the Bank, Piggy the Bank may immediately remove such amounts from your Balance. If you do not have a Balance that is sufficient to cover your liability, your remaining Balance (if any) will be removed, your Account will have negative Balance up to the amount of your liability, and you will be required to immediately add funds to your Balance to eliminate the negative Balance. If you do not do so, Piggy the Bank may engage in collection efforts to recover such amounts from you.

9.3 Actions by Piggy the Bank – Restricted Activities. If Piggy the Bank, in its sole discretion, believes that you may have engaged in any Restricted Activities, we may take various actions to protect Piggy the Bank, other Users, other third parties, or you from Reversals, Chargebacks, Claims, fees, fines, penalties and any other liability. The actions we may take include but are not limited to the following:

We may close, suspend, or limit your access to your Account or the Piggy the Bank Services (such as limiting access to any of your Payment Methods, and/or your ability to make purchases, take refunds, or remove financial Information);
We may contact Users who have purchased goods or services from you, contact your bank or credit card issuer, and/or warn other Users, law enforcement, or impacted third parties of your actions;
We may update inaccurate Information you provided us;
We may refuse to provide the Piggy the Bank Services to you in the future;
We may hold your funds for up to 180 Days if reasonably needed to protect against the risk of liability or if you have violated our Acceptable Use Policy;
We may take legal action against you; and
If you violate these Terms and Conditions then in addition to the above actions you will be liable to Piggy the Bank for the amount of Piggy the Bank’s damages caused by your violation of the Acceptable Use Policy. You acknowledge and agree that $2,500.00 CAD per violation is presently a reasonable minimum estimate of Piggy the Bank’s actual damages considering all currently existing circumstances, including the relationship of the sum to the range of harm to Piggy the Bank that reasonably could be anticipated because due to the nature of the violations, actual damages would be impractical or extremely difficult to calculate. Piggy the Bank may deduct such damages directly from any existing Balance in the offending Account, or any other Account you control.

Piggy the Bank, in its sole discretion, reserves the right to terminate this Agreement, access to its website, or access to the Piggy the Bank Services for any reason and at any time upon notice to you and payment to you of any unrestricted funds held in custody for you.

9.4 Actions by Piggy the Bank – Holds.

Risk-Based Holds. Piggy the Bank, in its sole discretion, may place a hold on any or all of the payments you receive when Piggy the Bank believes there may be a high level of risk associated with you, your Account, or any or all of your transactions. Piggy the Bank’s determination may be based on a number of different factors and Piggy the Bank may rely on information it receives from its third party partner. If Piggy the Bank places a hold on a payment, the funds will appear in your “Pending Balance” and the payment status will show as “Funds not yet available”. If Piggy the Bank places a hold on any or all of the payments you receive Piggy the Bank will provide you with notice of our actions. Piggy the Bank will release the hold on any payment after 21 Days from the date the payment was received into your Account unless you receive a Dispute, Claim, Chargeback, or Reversal or Piggy the Bank has taken another action permitted under this Section 10. Piggy the Bank, in its sole discretion, may release the hold earlier under certain circumstances. If you receive a Dispute, Claim, Chargeback, or Reversal, Piggy the Bank may continue holding the payment in your Account until the matter is resolved pursuant to this Agreement.
Disputed Transaction Holds. If a User files a Dispute, Claim, Chargeback or Reversal on a payment you received, Piggy the Bank may place a temporary hold on the funds in your Account to cover the amount of the liability. If you win the dispute or the transaction is eligible for Piggy the Bank Seller protection, Piggy the Bank will lift the temporary hold. If you lose the dispute, Piggy the Bank will remove the funds from your Account.

9.5 Actions by Piggy the Bank – Reserves. Piggy the Bank, in its sole discretion, may place a Reserve on funds held in your Account when Piggy the Bank believes there may be a high level of risk associated with your Account. If Piggy the Bank places a Reserve on funds in your Account, they will be shown as "pending" in your Piggy the Bank Balance. If your Account is subject to a Reserve, Piggy the Bank will provide you with notice specifying the terms of the Reserve. The terms may require that a certain percentage of the amounts received into your Account are held for a certain period of time, or that a certain amount of money is held in reserve, or anything else that Piggy the Bank determines is necessary to protect against the risk associated with your Account. Piggy the Bank may change the terms of the Reserve at any time by providing you with notice of the new terms.

9.6 Actions by Piggy the Bank - Account Closure, Termination of Service, Limited Account Access; Confidential Criteria. If we close your Account or terminate your use of the Piggy the Bank Services for any reason, we will provide you with notice of our actions. If we limit access to your Account, including through a Reserve or hold, we will provide you with notice of our actions, and the opportunity to request restoration of access if, in our sole discretion, we deem it appropriate. Further, you acknowledge that Piggy the Bank’s decision to take certain actions, including limiting access to your Account by placing holds or imposing Reserves, may be based on confidential criteria that is essential to our management of risk and the security of Users’ Accounts and the Piggy the Bank system. You agree that Piggy the Bank is under no obligation to disclose the details of its risk management or its security procedures to you.

10. Protection for Sellers.

10.1 Piggy the Bank Seller Protection. Piggy the Bank Seller protection is protection we provide Sellers from Claims, Chargebacks, or Reversals that are based on:

Unauthorized Transaction or
Item Not Received

Piggy the Bank Seller protection is available for eligible payments from buyers in any country.

10.2 Scope of Protection. Piggy the Bank will protect you for the full amount of the eligible payment and waive the Chargeback Fee, if applicable. There is no limit on the number of payments for which you can receive coverage.

10.3 Eligibility Requirements. To be eligible for Piggy the Bank Seller protection, you must meet all of the basic requirements listed below under (a) Basic Requirements. To be covered for Item Not Received protection, you must meet both the Basic Requirements and the Item Not Received Additional Requirements listed below under (b). To be covered for Unauthorized Transaction protection, you must meet both the Basic Requirements and the Unauthorized Transactions Additional Requirements listed below under (c).

a. Basic Requirements:
- You must ship the item to the shipping address on the Transaction Details Page.
- YYou must respond to Piggy the Bank's requests for documentation and other information in a timely manner.
- YThe item must be a physical, tangible good that can be shipped.
- Your primary residence, as listed in your Account, must be in Canada.
b. Item Not Received Additional Requirements:
- You must provide Proof of Delivery as described below in Section 11.4.
- It is recommended that you ship the item within 7 Days of receipt of payment. Or, if the payment is for pre-ordered or made-to-order goods, shipment is required within the timeframe specified in your item listing.
c. Unauthorized Transactions Additional Requirements:
- You must provide Proof of Shipment or Proof of Delivery.

10.4 Proof of Shipment, Proof of Delivery and Signature Confirmation Requirements. "Proof of Shipment" is online or physical documentation from an Approved Shipping company that includes all of the following:

The date the item is shipped.
The recipient’s address matches the shipping address on the Transaction Details Page.
The recipient's address, showing at least the city & province, or city & country or postal code (or international equivalent).

"Proof of Delivery" is online documentation from a shipping company that includes all of the following:

The date the item is delivered.
The item’s status as delivered.
The recipient’s address matches the shipping address on the Transaction Details Page.
The recipient's address, showing at least the city & province, or city & country or postal code (or international equivalent).
Signature Confirmation as described below if the full amount of the payment, including shipping and taxes, is greater than $200 CAD.

"Signature Confirmation" is online documentation that can be viewed at the shipping company’s website and indicates that the item was signed for on delivery.

10.5 Items/transactions not eligible for Piggy the Bank Seller Protection. The following are examples of items/ transactions not eligible for Piggy the Bank Seller Protection.

Claims or Chargebacks for Significantly Not as Described.
Items that you deliver in person, including at a retail point of sale.
Intangible items, including Digital Goods, and services.
Virtual Terminal Payments.
Items that are not shipped to the recipient's shipping address on the Transaction Details Page. We recommend that you do not use a shipping service arranged by the buyer, so that you will be able to provide valid proof of shipping and delivery.

11. Resolution Procedures for Unauthorized Transactions and Processing Errors.

11.1 Protection for Unauthorized Transactions and Processing Errors. When an unauthorized transaction or processing error occurs in your Account, including unauthorized transactions that occur, Piggy the Bank will cover you for the full amount of every eligible unauthorized transaction or processing error as long as you follow the procedures set out below in Section 11.2.

An unauthorized transaction is a type of error that occurs when money is sent from your Account that you did not authorize and that did not benefit you. For example, if someone steals your password, uses the password to access your Account, and sends a payment from your Account, an unauthorized transaction has occurred. If you give someone access to your Account (by giving them your login information) and they conduct transactions without your knowledge or permission, you are responsible for any resulting use. These transactions are not covered under any Piggy the Bank protection programs.

Examples of processing errors include: when money is either incorrectly taken from your Account or incorrectly placed into your Account; when transactions are incorrectly recorded in your Account; if you send a payment and it is debited twice from your Account; if a transaction is missing from, or not properly identified in your Account history statement; if you receive an incorrect amount of money at an ATM; and if there is a computational or mathematical error by Piggy the Bank.

You may request documentation or information regarding your Account or transaction to determine whether an unauthorized transaction or processing error exists by contacting us through the Contact Us link at the bottom of each page of the Piggy the Bank website.

11.2 Notification Requirements.

You should immediately notify Piggy the Bank if you believe:
1. there has been an unauthorized transaction or unauthorized access to your Account;
2. there is an error in your Transaction statement or your transaction confirmation sent to you by email;
3. your password has been compromised;
4. your Piggy the Bank Debit Card or Piggy the Bank Mobile-activated phone has been lost, stolen or deactivated; or
5. you need more information about a transaction listed on the statement or transaction confirmation.
To be eligible for 100% protection for errors in your Account, you must notify us within 60 Days after any unauthorized transaction or processing error first appears in your Account history statement. We will extend the 60 Day time period if a good reason, such as a hospital stay, kept you from notifying us within 60 Days.

You should regularly log into your Account and review your Account history statement to ensure that there has not been an unauthorized transaction or processing error. Piggy the Bank will also send an email to the primary email address you have provided in order to notify you of each transaction from your Account. You should also review these transaction confirmations to ensure that each transaction was authorized and is accurate.
For unauthorized transactions or processing errors in your Account, notify us as follows:
1. Write to Piggy the Bank, Attn: Error Resolution Department, 952 Queen St W. Toronto, Ontario; or
2. Telephone Piggy the Bank Customer Service at (416) 749-3895.
When you notify us, provide us with all of the following information:
1. Your name and email address registered to your Account;
2. A description of any suspected unauthorized transaction or processing error and an explanation as to why you believe it is incorrect or why you need more information to identify the transaction; and
3. The dollar amount of any suspected unauthorized transaction or processing error.
4. If you notify us orally, we may require that you send us your complaint or question in writing within 10 Business Days. During the course of our investigation, we may request additional information from you.

11.3 Piggy the Bank Actions after Receipt of Your Notification. Once you notify us of any suspected unauthorized transaction or processing error, or we otherwise learn of one, we will do the following:

We will conduct an investigation to determine whether there has been an unauthorized transaction or processing error that is eligible for protection.
We will complete our investigation within 10 Business Days of the date we received your notification of the suspected unauthorized transactions or processing error. If your Account is new (the first transaction from your Account was less than 30 Business Days from the date you notify us), we may take up to 20 Business Days to complete this investigation. If we need more time, we may take up to 45 Days to complete our investigation (or up to 90 Days for new Accounts, or if your transaction was at a point of sale where you were physically present, or a foreign initiated transaction).

If we decide that we need more time to complete our investigation, we will provisionally credit your Account for the amount of the suspected error. You will receive the provisional credit within 10 Business Days of the date we received your notice (or 20 Business Days for new Accounts). This will allow you to have use of the money until we complete the investigation. We will notify you of the provisional credit within 2 Business Days of the crediting. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days (or 20 Business Days for new Accounts), we will not provisionally credit your Account.
We will inform you of our decision within 3 Business Days after completing our investigation.

If we determine that there was an error, we will promptly credit the full amount of the error into your Account within 1 Business Day of our determination. Or, if you have already received a provisional credit, you will be allowed to retain those amounts.

If we decide that there was not an error, we will include an explanation of our decision in our email to you. If you received a provisional credit, we will remove it from your Account and notify you of the date and amount of the debit. You may request copies of the documents that we used in our investigation.

11.4 Piggy the Bank Processing Errors.

We will rectify any processing error that we discover. If the error results in your receipt of less than the correct amount to which you are entitled, Piggy the Bank will credit your Account for the difference. If the error results in your receipt of more than the correct amount to which you are entitled, Piggy the Bank will debit the extra funds from your Account. If the error resulted in our not completing a transaction on time or in the correct amount, we will be liable for your losses or damages directly caused by this failure, unless: (a) through no fault of ours, you did not have enough available funds to complete the transaction, (b) our system was not working properly and you knew about the breakdown when you started the transaction, or (c) circumstances beyond our control (such as fire, flood or loss of Internet connection) prevented the transaction, despite our reasonable precautions.

12. Protection for Buyers.

12.1 Types of Problems Covered. Piggy the Bank Purchase Protection (also known as Piggy the Bank Buyer Protection) helps you if you encounter either of these problems:

You did not receive the item you paid for with Piggy the Bank – “Item Not Received” (INR); or
You received an item you paid for with Piggy the Bank but it is “Significantly Not as Described” (SNAD) (as described below)

If your problem is a transaction that you did not authorize, please report the unauthorized transaction through the contact us page.

An item is “Significantly Not as Described” if it is materially different from what the Seller described in the item listing. Here are some examples:

You received a completely different item. For example, you purchased a book and received a DVD or an empty box.
The condition of the item was misrepresented. For example, the description when you bought the item said “new” and the item was used.
The item was advertised as authentic but is not authentic.
The item is missing major parts or features which were not disclosed in its description when you bought the item.
You purchased three items from a Seller but only received two.
The item was damaged during shipment.

An item is not Significantly Not as Described if it is materially similar to the Seller’s item listing description. Here are some examples:

The defect in the item was correctly described by the Seller.
The item was properly described but you didn't want it after you received it.
The item was properly described but did not meet your expectations.
The item has minor scratches and was listed as used condition.

12.2 Eligibility Requirements. To be eligible for Piggy the Bank Purchase Protection you must meet all of the following requirements:

Pay for the eligible item from your Account.
Pay for the full amount of the item.
Open a Dispute within 180 Days of the date you sent the payment – then follow the online dispute resolution process described below under Dispute Resolution.
Have an Account in good standing.

12.3 Ineligible Items. Piggy the Bank Purchase Protection only applies to Piggy the Bank payments for certain tangible, physical goods. Payments for the following are not eligible for reimbursement under Piggy the Bank Purchase Protection:

Intangible items, including Digital Goods
Services
Real estate, including residential property
Businesses
Vehicles, including motor vehicles, motorcycles, caravans, aircraft and boats
Significantly Not As Described issues for Custom made items
Travel tickets, including airline flight tickets
Items which you collect in person, or arrange to be collected on your behalf, including at the retail point of sale
Industrial machinery used in manufacturing
Items equivalent to cash, including prepaid or gift cards
Piggy the Bank Direct Payments
Virtual Terminal Payments
Personal Payments

Even if your payment is not eligible for Piggy the Bank Purchase Protection, you can file a Dispute and try to resolve the issue directly with the Seller; however, Piggy the Bank will generally not find in your favor if you escalate a Dispute to a Claim for an item which is not eligible for Piggy the Bank Purchase Protection.

12.4 Coverage Amount. If you are eligible for Piggy the Bank Purchase Protection and Piggy the Bank finds in your favor on your Claim, Piggy the Bank will reimburse you for the full purchase price of the item and original shipping costs – with no cap on coverage.

Piggy the Bank will not reimburse you for the return shipping costs that you incur to return a Significantly Not As Described item to the Seller or other party specified by Piggy the Bank. If the Seller presents evidence that they delivered the goods to your address, Piggy the Bank may find in favor of the Seller for an Item Not Received claim even if you did not receive the goods.

12.5 Relationship between Piggy the Bank’s protection programs and Chargebacks. Credit card Chargeback rights, if they apply, are broader than Piggy the Bank’s protection programs. Chargebacks may cover unsatisfactory items even if they do not qualify as SNAD, and may cover intangible items. You may pursue a Dispute/Claim with Piggy the Bank, or you may contact your credit card company and pursue your Chargeback rights. You may not pursue both at the same time or seek a double recovery. If you have an open Dispute or Claim with Piggy the Bank, and also file a Chargeback with your credit card company, Piggy the Bank will close your Dispute or Claim, and you will have to rely solely on your Chargeback rights.

If Piggy the Bank does not make a final decision on your Claim until after your credit card issuer's deadline for filing a Chargeback, and because of our delay you recover less than the full amount you would have been entitled to recover from the credit card issuer, we will reimburse you for the remainder of your loss (minus any amount you have already recovered from the Seller).

Before contacting your card issuer or filing a Dispute with Piggy the Bank, you should contact the Seller to resolve your issue in accordance with the Seller’s return policy as stated on their auction or website.

12.6 No Double Recovery. You may not file a Dispute/Claim, or receive a recovery, for a purchase under Piggy the Bank Purchase Protection if you have already received a recovery for that purchase directly from the Seller, or another third party, or if you have already filed a case for that purchase with the Seller, or another third party.

12.7 Exclusions. If we reasonably determine, having considered all the relevant circumstances, that you have made an excessive or unreasonable number of claims, Reversals or Chargebacks, we may exclude you from the Piggy the Bank Purchase Protection policy and deny all open and future claims, or take any other actions pursuant to this Agreement. We will notify you if you are excluded.

13. Disputes with Piggy the Bank.

13.1 Contact Piggy the Bank First. If a dispute arises between you and Piggy the Bank, our goal is to learn about and address your concerns and, if we are unable to do so to your satisfaction, to provide you with a neutral and cost effective means of resolving the dispute quickly. Disputes between you and Piggy the Bank regarding the Piggy the Bank Services may be reported at any time through contact us page, or by calling (416) 749-3895 from 6 AM to midnight Eastern Standard Time.

13.2 Arbitration. For any claim (excluding claims for injunctive or other equitable relief) where the total amount of the award sought is less than $10,000.00 CAD, the party requesting relief may elect to resolve the dispute in a cost effective manner through binding non-appearance-based arbitration. If a party elects arbitration, that party will initiate such arbitration through an established alternative dispute resolution (“ADR”) provider mutually agreed upon by the parties. The ADR provider and the parties must comply with the following rules: a) the arbitration shall be conducted by telephone, online and/or be solely based on written submissions, the specific manner shall be chosen by the party initiating the arbitration; b) the arbitration shall not involve any personal appearance by the parties or witnesses unless otherwise mutually agreed by the parties; and c) any judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction.

13.3 Law and Forum for Disputes. Except as otherwise agreed by the parties or as described in Section 13.2 above, you agree that any claim or dispute you may have against Piggy the Bank must be resolved by a court located in New Brunswick, Canada. You agree to submit to the personal jurisdiction of the courts located in New Brunswick, Canada, for the purpose of litigating all such claims or disputes. This Agreement shall be governed in all respects by the laws of Ontario, Canada.

13.4 No Waiver. Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches.

13.5 Indemnification. You agree to defend, indemnify and hold Piggy the Bank, its parent, officers, directors and employees harmless from any claim or demand (including attorneys’ fees) made or incurred by any third party due to or arising out of your breach of this Agreement and/or your use of the Piggy the Bank Services.

13.6 Assumption of Rights. If Piggy the Bank pays out a Claim, Reversal or Chargeback that you file against a recipient of your payment, you agree that Piggy the Bank assumes your rights against the recipient and third parties related to the payment, and may pursue those rights directly or on your behalf, at Piggy the Bank’s discretion.

13.7 Release of Piggy the Bank. If you have a dispute with one or more Users, you release Piggy the Bank (and our officers, directors, agents, joint ventures and employees) from any and all Claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.

14. General Provisions.

14.1 Limitations of Liability. IN NO EVENT SHALL WE, OUR PARENT, EMPLOYEES OR OUR SUPPLIERS BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH OUR WEB SITE, THE PIGGY THE BANK SERVICES, OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE). Some states do not allow the exclusion or limitation of incidental or consequential damages so the above limitation or exclusion may not apply to you. OUR LIABILITY, AND THE LIABILITY OF OUR PARENT, EMPLOYEES AND SUPPLIERS, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES.

14.2 No Warranty. PIGGY THE BANK, OUR PARENT, EMPLOYEES AND OUR SUPPLIERS PROVIDE THE PIGGY THE BANK SERVICES “AS IS” AND WITHOUT ANY WARRANTY OR CONDITION, EXPRESS, IMPLIED OR STATUTORY. PIGGY THE BANK, OUR PARENT, EMPLOYEES AND OUR SUPPLIERS SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. Piggy the Bank does not have any control over the products or services that are paid for with the Piggy the Bank Services and Piggy the Bank cannot ensure that a buyer or a Seller you are dealing with will actually complete the transaction or is authorized to do so. Piggy the Bank does not guarantee continuous, uninterrupted or secure access to any part of the Piggy the Bank Services, and operation of our site may be interfered with by numerous factors outside of our control. Piggy the Bank will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards, and cheque issuances are processed in a timely manner but Piggy the Bank makes no representations or warranties regarding the amount of time needed to complete processing because the Piggy the Bank Services are dependent upon many factors outside of our control, such as delays in the banking system or the U.S. or international mail service. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you. This paragraph gives you specific legal rights and you may also have other legal rights that vary from state to state.

14.3 License Grant. If you are using Piggy the Bank software such as an API, developer's toolkit or other software application that you have downloaded to your computer, device, or other platform, then Piggy the Bank grants you a revocable, non-exclusive, non-transferable license to use Piggy the Bank's software in accordance with the documentation. This license grant includes the software and all updates, upgrades, new versions and replacement software for your personal use only. You may not rent, lease or otherwise transfer your rights in the software to a third party. You must comply with the implementation and use requirements contained in all Piggy the Bank documentation accompanying the Piggy the Bank Services. If you do not comply with Piggy the Bank’s implementation and use requirements you will be liable for all resulting damages suffered by you, Piggy the Bank and third parties. You agree not to alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code which is derived from the software. You acknowledge that all rights, title and interest to Piggy the Bank’s software are owned by Piggy the Bank. Any third party software application you use on the Piggy the Bank website is subject to the license you agreed to with the third party that provides you with this software. Piggy the Bank does not own, control nor have any responsibility or liability for any third party software application you elect to use on the Piggy the Bank website and/or in connection with the Piggy the Bank Services. If you are using the Piggy the Bank Services on the Piggy the Bank website, or other website or platform hosted by Piggy the Bank, or a third party, and are not downloading Piggy the Bank’s software or using third party software applications on the Piggy the Bank website, then this section does not apply to your use of the hosted Piggy the Bank Services.

14.4 License Grant from You to Piggy the Bank; IP Warranties. When providing Piggy the Bank with content or posting content using Piggy the Bank Services, you grant us a non-exclusive, worldwide, perpetual, irrevocable, royalty-free, transferable, and sublicensable (through multiple tiers) right to exercise any and all copyright, publicity, trademarks, database rights and intellectual property rights you have in the content, in any media known now or in the future. Further, to the fullest extent permitted under applicable law, you waive your moral rights and promise not to assert such rights against Piggy the Bank, its sublicensees or its assignees. You represent and warrant that none of the following infringe any intellectual property or publicity right: your provision of content to Piggy the Bank, your posting of content using the Piggy the Bank Services, and Piggy the Bank’s use of such content (including of works derived from it) in connection with the Piggy the Bank Services.”

14.5 Complete Agreement. This Agreement, along with any applicable policies and agreements on the Piggy the Bank website, sets forth the entire understanding between you and Piggy the Bank with respect to the Piggy the Bank Services. Sections 1 (Our Relationship with You), 6 (Closing Your Account), 7 (Fees), 9 (Your Liability – Actions We May Take), 13 (Disputes with Piggy the Bank), 14 (General Provisions), and 15 (Definitions), as well as any other terms which by their nature should survive, will survive the termination of this Agreement. If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced.

15. Definitions.

"Account" means a Personal, Business or Premier Piggy the Bank account.

"Account Profile" means the location on our website where you can, after logging in, view and manage your profile, including your personal information, Payment Method details, preapproved payment authorizations, your selling tools, and your Account settings including your notification preferences and API Access permissions.

“Accepting an Offer” means committing to purchase product from an Offer Listing

“Active” means a Goal that has an active status, meaning it has a balance greater than $1, and an Offer has not been accepted.

"Add Funds" means your ability to add money into your Goal or Account through a Piggy the Bank hosted flow (and not from a third party website).

"Agreement" means this agreement including all subsequent amendments.

"Approved Shipper" means a shipping provider offering services that meet Piggy the Bank's standards herein for Viewable Online Proof of Delivery, and Viewable Online Signature Confirmation. Approved Shippers include Canada Post, UPS (United Parcel Service), and FedEx.

"Authorize" or "Authorization" means a buyer's express authorization to a Merchant to collect a payment from the buyer's Account.

"Balance" means any money that you have in a Goal or in your Account. The terms “dollar value” and "money" and "funds" are used interchangeably in this Agreement.

"Business Account" or “Seller” means an Account used primarily for business purposes and not for personal, family, or household purposes.

"Business Days" means Monday through Friday, excluding Holidays.

“Confirmation Code” means the alpha-numeric code provided to you upon completing the Goal Creation process.

"Chargeback" means a request that a buyer files directly with his or her debit or credit card company or debit or credit card issuing bank to invalidate a payment.

"Claim" means a challenge to a payment that a User files directly with Piggy the Bank in pursuant to Section 12 (Protection for Buyers) of this Agreement.

"Confirmed Address" means an address that has been reviewed by Piggy the Bank and found highly likely to be that of the User to which it is associated.

“Complete Payment” or “Payment Complete” means a payment was successfully taken from your Payment Source. This does not include money that has not transferred or money that is pending clearance from a Payment Source.

"Customer Service" is Piggy the Bank's customer support which can be accessed online through the Piggy the Bank Help Centre at any time, or by calling (416) 749-3895 from 6 AM to midnight Eastern Standard Time.

"Days" means calendar days.

"Default Payment Methods" means the order in which Piggy the Bank uses your Payment Methods to fund a transaction if you do not select a Preferred Payment Method.

"Digital Goods" means goods that are delivered and used in an electronic format.

"Dispute" means a dispute filed by a User directly with Piggy the Bank pursuant to Section 13 of this Agreement.

"eCheck" means a payment funded using a sender's bank account Payment Method that is held pending and not received by the recipient until it clears. When you send money using eCheck it will usually be held pending for up to 8 Business Days. The amount of time that it is held pending will increase if the payment is sent from a bank account outside Canada.

"Fees" means those amounts stated in Section 8 (Fees) of this Agreement.

“Goal Creation” means the initial setup process of your Goal.

“Goal Complete” means the end date setup in the Payment Schedule to reach the Total Goal Amount.

“Goal” means a specific fund that a User sets up to make payments into that includes a name, payment plan, Product Category and Confirmation Code.

“Goal Name” means the name you have assigned to your Goal in the Goal Creation process.

"Information" means any confidential and/or personally identifiable information or other information related to an Account or User, including but not limited to the following: name, email address, billing/shipping address, phone number and financial information.

"Instant Transfer" means a payment funded using the sender's bank account Payment Method in which Piggy the Bank credits the recipient instantly.

“Item Not Received” means a challenge to a payment from a User claiming that the item purchased was not received.

"Mass Payments" means the ability to send multiple payments at the same time.

"Merchant" and “Seller” are used interchangeably and mean a User who is selling goods and/or services and using the Piggy the Bank Services to setup Offer Listings.

"Merchant Processing Delay" means a delay between the time you Authorize a payment and the Merchant processes your payment.

“Number of Payments” means the amount of payments to be taken from your Payment Source over the Payment Frequency in the Goal Creation process

“Offer” and “Offer Listing” means a specific offer or listing that is sent to a User’s Goal, it contains information about purchasing an item as described in Section 3 (Making Purchases)

“Offer Total Price” means the Sale price listed in the Offer, including any Shipping or Pick Up fees, and applicable taxes.

"Payment Review" means the process described in Section 4 (Goals & Payments) of this Agreement.

"Payment Method" or “Payment Source” means the payment method used to fund a transaction. The following payment methods may be used to fund a transaction: Balance, Instant Transfer, eCheck, credit card, debit card and Redemption Codes.

“Payment Amount” means the dollar value amount you have set in Goal Creation process to be deducted from your Payment Source within the Payment Duration.

“Payment Frequency” means the time span chosen in the Goal Creation process between each Payment Amount. Such as Weekly, Daily, Monthly, Bi-weekly. Currently this is defaulted to Weekly.

“Payment Schedule” means the time period from the date of Goal Creation to Goal Complete setup in the Goal Creation process. This schedule will vary based on the Payment Amount, Number of Payments, Payment Frequency you have selected in Goal Creation to achieve the Total Payment Amount.
For example, On January 1, 2015 you setup a Goal Creation with a $50 (Payment Amount) * 10 (Number of Payments) = $500(Total Payment Amount). The Payment Frequency is set to daily payments. The Goal Creation date would be January 1, 2015. The Goal Complete date will be January 10, 2015. Payment Schedule is this time period.
The Payment Schedule may not be accurate and should be considered unpredictable by you as we rely on your Payment Source which may be delayed, unauthorized or various other reasons.

"Piggy the Bank," "we," "us" or "our" means Piggy the Bank and its subsidiaries and affiliates.

"Piggy the Bank Mobile" means a Piggy the Bank Service that allows you to send and receive payments through your mobile phone.

"Piggy the Bank Purchase Protection" (also known as Piggy the Bank Buyer Protection) means the protection program Piggy the Bank offers Buyers as described in Section 12 (Piggy the Bank Purchase Protection).

"Piggy the Bank Services" means all our products and services and any other features, technologies and/or functionalities offered by us on our website or through any other means.

"Personal Account" means an Account used for non-business purposes and used primarily for personal, family, or household purposes.

"Policy" or "Policies" means any Policy or other agreement between you and Piggy the Bank that you entered into on the Piggy the Bank website, or in connection with your use of the Piggy the Bank Services.

"Pooled Accounts" means Accounts at one or more banks in which Piggy the Bank will place User Balances.

"Preapproved Payment" means a payment in which the recipient is provided advance Authorization to debit the sender’s Account directly on a one-time, regular, or sporadic basis in accordance with the recipient’s agreement with the sender. Preapproved Payments are sometimes called "subscriptions", “automatic payments”, “automatic billing” or "recurring payments."

"Preferred Payment Method" (also called “Backup Payment Method”) means a Payment Method that you select to fund a payment instead of using the Default Payment Methods.

“Product Catalogue” means all products that are displayed in our Browse section. These products are non-specific or generic. They do not have a specific manufacturer, product bar code or specification. A product for all intensive purposes can be items such as a TV, SmartPhone, Jeans, Casual shoes etc.

“Purchase Payment” means a payment received for any of the following:

A payment for the sale of goods or services;
A payment you received for a donation;
A payment that is sent to, or received by, a business or other commercial or non-profit entity.

A Piggy the Bank Business Payment is not a Purchase Payment even if it meets any of the descriptions above.

"Redemption Code" means the sequence of letters, numbers, and/or symbols placed on gift certificates promotional coupons or other promotional offers and used to obtain a benefit.

"Reserve" means a percentage of the funds received into your Account that we hold in order to protect against the risk of Reversals, Chargebacks, Claims or any other liability related to your Account and/or use of the Piggy the Bank Services.

"Restricted Activities" means those activities described in Section 9 (Restricted Activities) of this Agreement.

"Reversal" means Piggy the Bank reverses a payment you received because (a) it is invalidated by the sender’s bank, (b) it was sent to you in error by Piggy the Bank, its parent, or any direct or indirect Piggy the Bank subsidiary, (c) the sender of the payment did not have authorization to send the payment (for example: the sender used a credit card that did not belong to the sender), (d) you received the payment for activities that violated this Agreement, the Piggy the Bank Acceptable Use Policy, or any other Piggy the Bank agreement, or (e) Piggy the Bank decided a Claim against you.

"Seller" and "Merchant" are used interchangeably and means a User who is selling goods and/or services and using the Piggy the Bank Services to receive payment.

"Send Money" means your ability to send money though the Piggy the Bank Services including in connection with a purchase of goods or services or as a Personal Payment.

“Sellers Return Policy” means the return policy written in the Offer Listing

"Significantly Not as Described" has the definition provided in Section 13 (Protection for Buyers) of this Agreement.

"Substantial Change" means a change to the terms of this Agreement that reduces your rights or increases your responsibilities.

“Total Payment Amount” means the total dollar value amount you assign to achieve your Goal. This is a set number you may choose and/or change and does not reflect the Total Goal Balance.

“Total Goal Balance” means the total dollar amount of money you have completely paid into your Goal via your Payment Sources. This does not include money that has not transferred or money that is pending clearance from a Payment Source.

"Transaction Details Page" means the page on the Piggy the Bank website titled "Transactions" that displays information about the transaction.

“Transaction Date” means the date the Payment Amount has been taken from your Payment Source

"Verified Account" means an Account status that reflects that Piggy the Bank is reasonably sure that an Account holder has legal control of one or more of his or her Payment Methods. A Verified Account status does not constitute an endorsement of a User or a guarantee of a User's business practices.

"Viewable Online Proof of Delivery" means documentation that can be viewed online at the Approved Shipper's website and includes the address to which the package was delivered.

"Viewable Online Signature Confirmation" means documentation that can be viewed online at the Approved Shipper's website and includes the signature of the person who received the package.

“Virtual Terminal Payment” means a payment processed by Piggy the Bank through the Virtual Terminal flows that is funded directly by a Card and not through an Account.

"User" means any person or entity using the Piggy the Bank Services including you.