Business Cash Advance Contract
This is a contract between Jane Smith and Moves (US) Financial Inc. (“Moves”).
Cash Advance of $1,000 USD
A. You will receive $1,000 USD as a business cash advance.
B. In return for this cash advance, Moves will receive $1,035 USD of your future business earnings.
C. You will allow Moves to withdraw $103.50 USD from your account every week, starting on the 7th day following the $1,000 USD cash advance, using the pre-authorized debit form attached as Schedule 1 of this contract (“PAD”).
D. Withdrawals will continue until Moves receives $1,035 USD from your business, which is expected to be 10 weeks of withdrawals. If a withdrawal doesn’t happen as expected then you will still need to make it, and do so promptly.
F. You promise not to deliberately stop Moves from accessing the accounts that you have linked (e.g. Argyle, Plaid, gig platform account, or bank account) until Moves has received the $1,035 USD of your business earnings. For example, you may not change a password to prevent Moves from accessing a linked account.
G. The maximum that can be recovered in a lawsuit about this contract is $1,035 USD, no matter what the dispute is about.
H. Any legal dispute will be heard in the courts of Dover, Delaware, USA, and the laws of Delaware will apply.
I. Moves may assign this agreement to another company, upon 10 days notice.
J. Communication about this agreement will be by email or in-app notification.
I authorize Moves Financial Inc. to debit my account according to the contract between myself and Moves Financial Inc.
This is a business PAD that authorizes Moves Financial Inc. to debit the specified account. The payor and payee have mutually agreed to waive any Pre-Notification/Confirmation requirements.
For general questions or account inquiries, please visit https://movesfinancial.com/. If you have questions about this PAD then you may contact Moves (US) Financial Inc. by email: [email protected].
You have certain recourse rights if any debit does not comply with this agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD Agreement.
This PAD Agreement may only be modified upon 30 days notice. You may obtain a sample cancellation form, or further information regarding your right to cancel this PAD Agreement, at your financial institution.
This PAD Agreement concerns a method of funds transfer. Terminating this PAD Agreement does not terminate any agreements between you and Moves Financial Inc.
Moves (US) Financial Inc., and not any payment processor/financial institution used by Moves Financial Inc., is solely responsible for this PAD Agreement and the contract to which it relates.