The following additional terms and conditions are Third-Party Application Terms that apply to Customer’s and its End Users’ access to and use of the products and services that Quiltt offers from Plaid, Inc. (“Plaid”) as a Third-Party Application. These Third-Party Application Terms are in addition to the terms and conditions of any Order and the Quiltt Terms of Service, all of which comprise the “Agreement” for purposes of the Plaid Service. In the event of a conflict between these Third-Party Application Terms and the terms and conditions relating to Quiltt Services, these Third-Party Application Terms control and govern with respect to the Plaid Service. Capitalized terms that are not defined in these Third-Party Application Terms have the meanings given to them in the Quiltt Terms of Service or the Order.
“Plaid Auth” means a service that provides to Client (through Partner), for a checking or savings account that an end user has connected to the Plaid Services with Client, financial institution account numbers, associated routing numbers, and other basic account data.
“Plaid Balance” means a service that provides to Client (through Partner), for an account that an end user has connected to the Plaid Services with Client, the applicable balance based on the total amount of funds in the account (“Current Balance”), and if available, the Current Balance less any outstanding holds or debits not yet posted to the account, in near real-time.
“Plaid Identity” means a service that provides to Client (through Partner), for an account that an end user has connected to the Plaid Services with Client, the name and, as available, the address, phone number, and email address associated with that account.
“Plaid Transactions” means a service that provides to Client (through Partner), for a depository or credit account that an end user has connected to the Plaid Services with Client, financial institution account transaction data in a standardized format, including data elements such as transaction ID, account ID, amount, and date.
“Plaid Liabilities” means a service that provides to Client (through Partner), for a loan account that an End User has connected to the Plaid Services with Client, account data in a standardized format, including data elements such as balances, payment timing, current loan terms, and account details.
“Plaid Investments – Transactions & Holdings” means a service that provides to Client (through Partner), for an investment account that an End User has connected to the Plaid Services with Client, both (i) account data in a standardized format, including data elements such as security type, quantity, value, cost basis, as well as other ownership details and (ii) account transaction activity data in a standardized format, including data elements such as quantity, price, amount, and other descriptive fields.
Client Flow Down Terms
1. Restrictions. Unless Plaid specifically agrees in writing, Client will not, and will not enable or assist any third-party to: (i) attempt to reverse engineer (except as permitted by law), decompile, disassemble, or otherwise attempt to discover the source code, object code, or underlying structure, or algorithms of the Plaid services described at www.plaid.com (the, “Services”); (ii) modify, translate, or create derivative works based on the Services (for clarity, this subsection (ii) does not apply to the Output or prohibit the linking of Client’s application to the Services); (iii) make the Services or information and data of Client’s business and consumer end users (the “End Users”) provided via the Services (the “Output”) available to, or use the Services or Output for the benefit of, anyone other than Client or End Users; (iv) sell, resell, license, sublicense, distribute, rent or lease any Services or Output to any third-party, or include any Services or Output in a service bureau, time-sharing, or equivalent offering; (v) publicly disseminate information from any source regarding the performance of the Services or Output; or (vi) attempt to create a substitute or similar service through use of, or access to, the Services or Output. Client will use the Services and Output only in compliance with (a) the Client application, use case, and other restrictions agreed to between Plaid and Partner, (b) the Plaid developer policies (available at https://plaid.com/legal/#end-user-privacy-policy), (c) Plaid’s applicable technical user documentation (available at www.plaid.com/docs), and (d) any agreements between Client and End Users. Notwithstanding anything to the contrary, the Client accepts and assumes all responsibility for complying with all applicable laws and regulations in connection with all of Client’s activities involving any Services, Output, or End User data. Client acknowledges and agrees that Plaid is neither a “consumer reporting agency” nor a “furnisher” of information to consumer reporting agencies under the Fair Credit Reporting Act (“FCRA”) and the Output is not a “consumer report” under the FCRA and cannot be used as or in such. Client represents and warrants that it will not, and will not permit or enable any third-party to, use the Services (including Output) as a or as part of a “consumer report” as that term is defined in the FCRA or otherwise use the Services (including Output) such that the Services (including Output) would be deemed “consumer reports” under the FCRA.
2. Secondary Investors. Subject to this Section 2, Client may request that Plaid or Partner disclose Output or a Partner product or service incorporating Output (collectively, the “Shared Data”) to Client’s Secondary Investors. “Secondary Investor” means a third-party investor or purchaser of a financial product originated by Client and provided to an End User (e.g. a loan).
4. WARRANTY; DISCLAIMER; ENFORCEMENT. THE SERVICES ARE PROVIDED “AS IS.” TO THE FULLEST EXTENT PERMITTED BY LAW, NEITHER PLAID NOR ITS AFFILIATES, SUPPLIERS, LICENSORS, AND DISTRIBUTORS MAKE ANY WARRANTY OF ANY KIND, EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, OR ANY WARRANTY THAT THE SERVICES ARE FREE FROM DEFECTS. PLAID DOES NOT MAKE ANY WARRANTY AS TO THE OUTPUT THAT MAY BE OBTAINED FROM USE OF THE SERVICES. PLAID WILL BE AN INTENDED THIRD-PARTY BENEFICIARY OF THE AGREEMENT BETWEEN PARTNER AND CLIENT AND MAY DIRECTLY ENFORCE SUCH AGREEMENT AGAINST CLIENT, WITHOUT PARTNER’S CONSENT OR PARTICIPATION, BUT SOLELY RELATING TO THE OUTPUT OR SERVICES PROVIDED BY PLAID TO PARTNER OR CLIENT.
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