BENEFICIARY TELR SPLIT AGREEMENT – TERMS AND CONDITIONS

Last updated: May 15, 2023

In addition to the Telr Split Payout Agreement (the “Split Agreement” or “Agreement”) this Beneficiary Telr Split Terms and Conditions (“Beneficiary Split Agreement”) constitutes a legally binding agreement between Innovate Technologies FZCO (“Telr”, “Us”, “We” and “Our”), registered in the United Arab Emirates, having its offices at 101-119, Building A1, Dubai Digital Park, Dubai, and the person or legal entity (“you”, “your”, “Beneficiaries” “Beneficiary” or “user”), who shall Onboard itself as including without limitation vendor of Merchant on Telr’s Split Platform in order to receive the Spilt payout amount as initiated by the Merchant.

The words defined in this Beneficiary Split Agreement shall have the same meaning as the words defined in the Split Agreement.

DISCLAIMER:CONSENT TO THIS AGREEMENT SHALL AUTOMATICALLY BE DEEMED AS YOUR FORMAL ACKNOWLEDGMENT OF THE SPLIT AGREEMENT. 

Beneficiary Information
Telr as part of its Added Value Services provides Merchants the ability to use Telr Split in order to facilitate payments to vendors/you who have provided goods or services. You are not a Telr Customer, and Telr’s Services Agreement does not apply to you if you are receiving payment from Telr’s Merchants using Telr Split Services. 

Telr provides its users with the ability to use its platform to receive payments from third parties (these Telr users are referred to as "Beneficiary(ies)" and the third parties are referred to as "Merchants").

As part of Telr Split Onboarding Process, Telr may separately offer Beneficiary(ies) the ability to access via a onetime secured link an information portal managed by Telr in order for them to upload required documents (including but not limited to personal data and in accordance with Telr’s Privacy Policy) for Telr compliance and risk team to review. Upon acceptance, you shall receive an email from Telr confirming your onboarding as a Beneficiary of one of our Telr Merchants.

If any further document is required, Telr team shall contact you via the email provided by our Telr Merchant.

DISCLAIMER:PENALTIES AND FEES MAY BE APPLIED IF THERE IS AN ERROR OR OMISSION IN PROVIDING CORRECT OR INCOMPLETE BENEFICIARY INFORMATION FROM YOU DURING THE BENEFICIARY ONBOARDING AND MAY CAUSE A REJECTION OF, OR DELAYS IN THE PAYOUT. WE SHALL NOT BE HELD LIABLE FOR ANY POTENTIAL DIRECT AND/OR INDIRECT LOSS.

Outside of the informational portal, Telr is not offering Beneficiary(ies) any services, including, but not limited to, payment services, and the Telr Services Agreement does not apply to them. Telr will facilitate the transfer of payout to Beneficiary(ies) based on instructions given to Telr by Telr Merchants.

Beneficiary(ies) may have a separate agreement with Telr Merchants for the Merchant to pay them for goods or services. Please contact Merchant with any questions about the status of any funds the Merchant has sent to Beneficiary(ies).