V1 Financial Technologies, LLC · Effective Date: 12/01/2023
This End User License Agreement ("Agreement") is entered into by and between you ("End User") and V1 Financial Technologies, LLC ("V1", "Company", "we", or "us"), a financial technology company providing smart payment solutions tailored to the business aviation industry.
By accessing or using our Services (as defined below), you acknowledge that you have read, understood, and agree to be bound by the terms of this Agreement. If you do not agree, you may not access or use the Services.
1.1 "Services" refer to the software, card issuing services, expense management tools, virtual platforms, and any related application programming interfaces (APIs), mobile applications, or websites provided by V1.
1.2 "User Data" means any data, content, or information provided or generated by the End User through use of the Services.
1.3 "Authorized User" means an individual authorized by the End User to access and use the Services in accordance with this Agreement.
2.1 Grant of License. Subject to the terms of this Agreement, V1 grants the End User a limited, non-exclusive, non-transferable, non-sublicensable right to access and use the Services solely for internal business operations.
2.2 Restrictions. The End User shall not:
3.1 Data Security. V1 maintains administrative, physical, and technical safeguards in accordance with ISO/IEC 27001:2022 and PCI DSS standards to protect the confidentiality, integrity, and availability of User Data.
3.2 Data Access Controls. The End User must ensure proper user authentication, authorization, and role-based access controls within their organization.
3.3 Incident Response. In the event of a security incident affecting the End User's data, V1 will notify the End User within 72 hours of becoming aware, and follow its documented incident response procedures.
3.4 PCI Compliance. All card-related data processing, transmission, and storage within V1's platform complies with the Payment Card Industry Data Security Standard (PCI DSS). The End User agrees not to store full PAN (Primary Account Number) or CVV data on their local systems.
4.1 All rights, title, and interest in and to the Services, including all associated intellectual property rights, remain with V1 and its licensors.
4.2 The End User retains all rights to their User Data. V1 shall have a limited license to use such data solely for the purpose of providing the Services.
5.1 Each party agrees to maintain the confidentiality of non-public technical, financial, or business information disclosed by the other party.
5.2 Confidentiality obligations survive termination for a period of three years.
6.1 V1 represents that the Services will materially perform as described in accompanying documentation.
6.2 EXCEPT AS EXPRESSLY SET FORTH HEREIN, V1 DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
7.1 TO THE MAXIMUM EXTENT PERMITTED BY LAW, V1 SHALL NOT BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES, OR LOSS OF PROFITS, REVENUE, OR DATA.
7.2 V1's aggregate liability for any claim shall not exceed the total amount paid by the End User for the Services in the six months preceding the claim.
8.1 This Agreement remains in effect until terminated. Either party may terminate this Agreement upon thirty days' written notice.
8.2 Upon termination, the End User must cease all use of the Services and destroy any confidential materials.
The End User agrees to comply with all applicable export laws and regulations and shall not export or re-export the Services without the required governmental licenses.
This Agreement is governed by the laws of the State of Florida, without regard to conflict of laws principles. Any dispute arising out of this Agreement shall be resolved in the courts located in Miami-Dade County, Florida.
V1 reserves the right to audit the End User's use of the Services to ensure compliance with this Agreement, upon reasonable notice and during normal business hours.
12.1 Amendments. V1 may modify this Agreement upon 30 days' notice to the End User.
12.2 Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements.
12.3 Survivability. Provisions regarding confidentiality, IP ownership, limitations of liability, and governing law shall survive termination.
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