Terms of Service

These Terms of Service (“Terms”) are a binding agreement between you (the “Customer”) and [Veltafi Inc. — registered name pending incorporation/counsel] (“Veltafi,” “we,” or “us”). By using the service, you agree to these Terms and to our Privacy Policy.

Veltafi provides cheque-processing and accounts-receivable services to small and medium-sized businesses in Canada. The service includes (a) receiving cheques addressed to you under a Limited Deposit Authorization (LDA), (b) optical extraction of payer and amount data, (c) reconciliation against invoices, (d) deposit to your designated bank account, and (e) audit-log and reporting access via the customer dashboard.

• You must be a legally constituted business in Canada with authority to enter into this agreement.
• You must provide accurate, current, and complete information during signup and keep it current.
• You are responsible for safeguarding access to your account, including the email inbox that receives sign-in links.
• One account per business entity. Multi-entity accounts require the Volume tier.

By signing and uploading an LDA, you authorize Veltafi to receive, hold, and deposit cheques made payable to you, into the bank account you designate. The LDA is your instruction to your bank and may be revoked by you at any time on at least thirty (30) days' written notice. You represent and warrant that you have the legal authority to grant this authorization.

• Use the service only for cheques you are entitled to receive in the ordinary course of your business.
• Do not submit cheques that you know or suspect to be fraudulent, post-dated beyond your accounting period, or subject to dispute.
• Maintain accurate bank-account information; notify us within 5 business days of any change.
• Comply with all applicable Canadian and provincial laws, including anti-money-laundering and tax obligations.

• Subscription fees are charged monthly in advance via Stripe. Pricing is as listed on the marketing site at the time of signup.
• If your monthly cheque volume exceeds your tier's cap, we will notify you and propose an upgrade; we do not charge surprise overage fees.
• You may cancel at any time. Cancellation takes effect at the end of the current billing period; we do not pro-rate refunds for partial months, except where required by Quebec consumer-protection law.
• We may suspend the service for non-payment after 14 days' notice.

We are an agent for collection, not a bank. Funds collected on your behalf are deposited to your designated bank account; Veltafi does not custody customer funds. Our cheque-handling times are best-effort targets, not guarantees; cheque clearing ultimately depends on the issuing bank and on the Canadian payments system.

• No use of the service for cheque-kiting, structuring, money laundering, or any unlawful purpose.
• No reverse engineering, scraping, or attempting to circumvent access controls.
• No use of the service to process cheques for third parties without our written consent.

To the maximum extent permitted by applicable law: Veltafi's aggregate liability to you for any claim arising out of or related to the service is limited to the fees you paid to us in the twelve (12) months preceding the event giving rise to the claim. We are not liable for indirect, incidental, consequential, or punitive damages, or for loss of profits, revenue, or data.

Quebec consumer-protection carve-out:Nothing in this section limits any non-waivable rights or remedies you have under Quebec's Consumer Protection Act (R.S.Q., c. P-40.1) or under the Civil Code of Québec.

We provide the service with reasonable care and skill. Except as expressly set out in these Terms, the service is provided “as is” and we disclaim all other warranties, express or implied, including merchantability and fitness for a particular purpose, to the maximum extent permitted by law.

You agree to indemnify and hold Veltafi harmless against any third-party claim arising from (a) cheques you submit that you were not entitled to receive, (b) inaccurate information you provide, or (c) your breach of these Terms.

We may suspend or terminate the service immediately, on notice to you, if we reasonably believe you are in material breach of these Terms, or if we are required to do so by law or by a payment processor. On termination, we will return your cheque records and audit log on reasonable request, in a machine-readable format.

If we change these Terms materially, we will notify you by email and require re-acceptance at next sign-in. The version string at the top of this page is recorded in our audit log alongside each acceptance.

These Terms are governed by the laws of Quebec, Canada, without regard to conflict-of-laws rules. The courts sitting in the judicial district of Montreal, Quebec have exclusive jurisdiction, subject to your non-waivable rights as a consumer.

For service questions, email privacy@veltafi.com.
For privacy questions, email dpo@veltafi.com.