How your PayBev™ account works
ABOUT USING YOUR ACCOUNT
Using the account
You may use the account to request Program Investments as well as request Program Payments made on your behalf. We decide whether to approve a charge based on our interpretation of the local, state and federal alcohol laws. We also consider the credibility of the investor, vendor or service provider. Keep your Account safe and don't let anyone else use it. If your Account is being used without your permission, contact us right away. You may not use your Account for illegal activities.
Declined requests
We may decline to authorize an Investment, Payment or Transfer request. Reasons we may do this include suspected fraud and our assessment of the investor, vendor or service provider. We are not responsible for any losses you incur if we do not authorize a request. And we are not responsible if any investor, vendor or service provider refuses to comply with our request for additional information (based on any local, state or federal alcohol laws).
ABOUT YOUR INVESTMENTS
Investment requests
You may only request alcohol-related marketing support from an investor for the sole purpose of your beverage program. All Investments are voluntary by law and are never guaranteed. Some investors require additional information regarding your Program in order to process payment. It is your responsibility to fulfill these requests for the investor directly.
Any Investment that is cancelled after the invoice has been issued will carry a $100 fee that will be deducted from the account balance.
Investment terms
The amount and payment terms for all Program Investments are determined by the investor company. PayBev™ does not dictate the marketing support amount or Payment terms. We are not responsible for overdue payments or unpaid invoices. We send overdue notices regularly from our AR department as well as follow-up by phone and email.
Investment collections
Alcohol-related Investor payments are held by PayBev™ for the sole purpose of the specific Program they were intended. Alcohol-related Investments are the property of the investor and can be returned at any time upon request by the investor. At no time can alcohol-related Investments be sent directly or indirectly to the Account Holder.
ABOUT YOUR PAYMENTS
Payment requests
You may request a Payment from your Account to a vendor or service provider for your Program. All Payment requests require sufficient backup (e.g., a vendor invoice), including tax documentation (e.g., vendor W9). Payment approvals using alcohol-related investments are subject to our interpretation of the local, state and federal alcohol laws. We typically approve or deny Payment requests within 3 business hours of receiving the submission.
Payment options
Standard Payments are sent by mail, EFT or credit card (based on vendor’s payment options). They are typically paid or delivered within 5 business days of the approval of the request.
Any Payment that is cancelled, returned or requires reissuing (based on the vendor information submitted in PayBev™) will carry a $50 fee that will be added to the transaction.
Rush Payments are guaranteed to be paid or delivered within 48 hours of the approval of the request (not including weekends or holidays). Rush payments carry a $50 fee that is added to the transaction.
Wire Payments are guaranteed to be sent within 24 hours of the approval of the request (not including weekends or banking holidays). Wire payments carry a $50 fee that is added to the transaction.
We are not responsible for any additional costs or penalties associated with late payments.
Stop payments
We reserve the right to stop Payment on any vendor payment at any time. We also reserve the right to request Payment back from a vendor if we have reason to believe the payment was sent unlawfully. At no time do we take responsibility for any vendor or service provider agreements, contracts or invoices.
ABOUT YOUR TRANSFERS
External transfer requests into PayBev™
You may request marketing support funds previously collected by a legal third-party entity to be transferred into your PayBev™ account for disbursement under the same criteria as funds collected directly from investors by PayBev™. External transfers into your PayBev™ account are subject to 1.5% fee of the total transfer amount. This fee is subtracted from the total Transfer amount. These funds are available immediately after payment has cleared our bank.
External transfer requests out of PayBev™
You may request alcohol-related marketing support to be transferred out of your PayBev™ account to a third-party entity that fulfills our requirement of a trusted steward of alcohol marketing support. In the case we are unable to confirm a third-party entity that meets all of our requirements, the marketing support will be refunded back to the investors directly prorated on their individual program contribution and branded activation costs. All transfers out of your PayBev™ account are subject to 1.5% of the total transfer amount. This fee is subtracted from the total transfer amount. The maximum transfer amount is the available balance, minus all fees. External transfers can take up to two weeks in order to reconcile the account.
OTHER IMPORTANT INFORMATION
About additional account users
At your request, we may issue additional Account access. They do not have accounts with us but they can use your Account subject to the terms of this Agreement. You are responsible for all use of your Account by Additional users and anyone they allow to use your Account. You must pay for all charges they make. You authorize us to give Additional Account users information about your Account and to discuss it with them. If you want to cancel an Additional Account user’s right to use your Account you must tell us.
Converting charges made in a foreign currency
If you request a payment in a foreign currency, we will convert it into U.S. dollars on the date we or our agents process it, so that we bill you for the charge in U.S. dollars based upon this conversion.
Closing your account
You may close your Account at any time by calling us or writing to us. The Account will be immediately suspended for all users, and no new investment or payment requests will be accepted. We will settle all current payment and investment requests depending on the stage of the process. External transfers can take up to two weeks in order to reconcile the closed account.
We may contact you
If we need to contact you to service your account, you authorize us (and our affiliates, agents and contractors) to contact you at any number you provide, from which you call us, or at which we believe we can reach you. We may contact you in any way, such as calling or texting. We may contact you using an automated dialer or prerecorded messages. We may contact you on a mobile, wireless or similar device, even if you are charged for it. We may monitor and record any calls between you and us.
Governing law
Local, state and federal law govern this Agreement and your Account. We hold your Account in Georgia. We entered into this Agreement with you in Georgia.