Arena Terms of Use Agreement - Arena Financial Services

Last Updated and Effective: October 11, 2023

These terms of use (“Terms of Use”) are provided on behalf of Arena and its affiliates (“Arena”, “we”, “us”, “our”). By using Arenapay.io, Arenacfo.com, or any subdomain thereof (the “Site”), you signify that you have read, understand and agree to be bound by these Terms of Use, regardless of whether you are a registered member of the Service. Please read them very carefully. If you do not wish to be bound by these terms of use, you should not access or use the Site. In addition to these Terms of Use, you may enter into other agreements with us, banks and other lenders (“Lenders”) and with others that will govern your use of the products and services offered on the Site. If there is any contradiction between these Terms of Use and another agreement you enter into that is applicable to a product or service offered on the Site, then the other agreement will take precedence as it applies to the product or service.

About Our Services

We are a client financial advisory service “Fractional CFO Services” or “Service” and payment platform that allows business customers to pay and receive payments from vendors. We use the information you provide us to determine if you meet the eligibility criteria. After we analyze the information you provide, and if you are eligible to become an Arena client, when you become an Arena client, you will receive monthly CFO support for your business in addition to any additional financial service needed for your particular business. If any information you provide is untrue, inaccurate, or incomplete, we have the right to reject any application you have submitted or terminate any agreement we have with you.

Scope. Arena agrees to provide fractional CFO services to its clients. The scope of the services shall be mutually agreed upon and may include financial management, strategic financial planning, forecasting, financial reporting, cash flow management, financial analysis and other related services (the “Services”).

Collection of Information and Verification. We may require that you furnish us with identifying information. We use this information as detailed under our Privacy Policy. You authorize us to obtain a credit profile from a credit bureau for credit pre-qualification and identity verification of you and your business. You further agree that we may verify your identity and the information you provide us with third parties. We may require further information from you to comply with our legal obligations, including, without limitation, anti-terrorism laws and regulations. You agree that any information you provide us will be governed by the Terms of Use.

Electronic signature. By establishing an Account with Arena, you are agreeing to Arena sending you communications electronically by email, by text, or by making them accessible via the Arenapay.io or Arenacfo.com websites or applications. All communications provided electronically to you will be considered to have been provided “in writing”. This also allows Arena to use electronic signatures and obtain them from you.

Syncing to your Accounting Software. If your Account is connected to your accounting software, you understand and agree that you are solely responsible, and Arena is not responsible for the information and data that you choose to synchronize and share between your Arena account and your accounting software. When you use third party accounting software, you understand and agree that use is subject to the terms of service and privacy policy of the software provider.

Authorized Bank Account. Your Account information may include access credentials (for example, username and password) that allow you to gain online access to one or more accounts that you maintain with a third-party financial institution and that you choose to designate for use in connection with the Services (each, an “Authorized Bank Account”). We work with one or more Third Party Services (as defined below) that will securely store pursuant to industry standards any Authorized Bank Account access credentials that you provide on the Services and will access your Authorized Bank Accounts for the purposes of providing and improving the services we offer on the Services. You may only provide account access credentials for and authorize us to access valid accounts that you hold in your own name. You may not provide access credentials for an account that is held by a third person. You must update your Account information to reflect any change to the username or password that is associated with any Authorized Bank Account. If you choose to link your Authorized Bank Account, you authorize the use of this information to provide you with Arena Services. This authorization will remain in effect until you notify us that you wish to revoke this authorization, which may affect your ability to receive the Services. The Third Party Service providers that we work with include Quickbooks (“Quovo”) and Plaid Inc. (“Plaid”). By using our Services, you grant us, Capital One, Plaid, and Quickbooks the right, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution.You agree to your personal and financial information being transferred, stored, and processed by Quickbooks in accordance with the Quickbooks Privacy Policy (https://quickbooks.intuit.com/eu/privacy-policy/) and by Plaid in accordance with the Plaid Privacy Policy (https://plaid.com/legal/).

Social Media Sharing. Arena acknowledges and agrees that during the term of this Agreement and in connection with the performance of the Services, Arena may have access to and become aware of the your confidential and proprietary information, including but not limited to financial data, business plans, trade secrets, and other proprietary information (collectively, “Confidential Information”). Arena shall maintain the confidentiality of the your Confidential Information and shall not disclose or share any of your Confidential Information on social media platforms or any other public forums without prior written consent.

Non-Disparagement. Both you and Arena agree that during the term of this Agreement and thereafter, neither party shall make any negative, disparaging, or derogatory comments or posts on social media or any other public forums about the other party, its officers, directors, employees or agents. Both parties further agree not to engage in any conduct that may harm the reputation or business interests of either party.

Fees. You agree to pay Arena for the Services at the rate detailed in your client quote. Payment shall be due within 15 days of invoicing. We may charge fees to process payments and provide custom financial services as detailed in your client quote. We also reserve the right to charge interest on outstanding balances and past due amounts. We also reserve the right to receive reimbursement for any expenses incurred to support the financial management service of your business.

Non-Solicitation. During the term of this Agreement, you must notify Arena if you would like to hire your Arena CFO independently as a contractor or as an employee. In addition, a fee of 30% of first year salary plus benefits will be assessed.

Recording Meetings. Arena acknowledges and agrees that all meetings, discussions, and interactions between you and Arena in connection with the Services may be recorded or otherwise captured without the additional written consent. Any recordings or captured content created by Arena during the performance of the Services shall be the property of Arena. You are reserved the right to revoke consent to record meetings or interactions at any time, for any reason, by providing written notice to Arena. Upon receipt of such notice, Arena shall immediately cease recording or capturing meetings or interactions and shall not use or disclose any recordings or captured content created after the revocation of consent.

Privacy Policy. Our Privacy Policy explains how the personal information you provide on this website is used and protected by Arena when you use the Site.

Electronic Communications/Notices and Information Delivered Electronically. Our Consent Agreement for Electronic Disclosures and Communications, hereby incorporated by reference into this Agreement, explains your agreement to receive all current and future notices, disclosures, communications and information, and to do business electronically with us. Your continued use of this site is evidence of your acceptance and agreement to be bound by this Agreement.

Copyright, Trademark and Service Mark Notices. All text, graphics, photographs, videos, sound, trademarks, logos, artwork, interfaces and computer code, including but not limited to the design, coordination, “look and feel” and arrangement of elements contained on the Websites (collectively “Content”) is owned or licensed by or to us. The Content is protected by trademark, copyright, and patent laws, and other intellectual property rights and unfair competition laws. Except as expressly stated herein, no part of the Websites or Content may be copied, reproduced, republished, uploaded, posted, publicly displayed, encoded, transmitted or distributed in any way, including the use of framing or mirrors, to any other computer, server, website or other medium for publication or distribution or for any commercial enterprise, without Arena’s prior written permission. Nothing on the websites should be construed as granting any license or right to use any Content.

Disclaimers and Liability. The websites, content, and services are provided for use “as is” without warranty of any kind. Arena does not warrant that the websites, content or services will be accurate, error-free or uninterrupted. Arena does not warrant that the websites, content or services will provide specific results to the maximum extent not prohibited by law:

Under no circumstances will Arena be liable for any damages whatsoever arising out of your reliance on or use of the websites, content, services or other items located on the websites.
Arena disclaims all warranties of any kind, whether statutory, express or implied, including, without limitation, implied warranties of merchantability and fitness for a particular purpose.

Additionally, the inclusion or offering of any products or services on the websites does not constitute any endorsement or recommendation of such products or services by us. All such information, products and services are provided “as is” without warranty of any kind.

Indemnity. You agree to indemnify, defend and hold harmless Arena and its officers, directors, shareholders, predecessors, successors-in-interest, licensors, employees, agents, subsidiaries and affiliates (“Arena Parties”), from and against any and all claims, losses, liabilities, expenses (including attorneys’ fees and costs) and damages arising out of or relating to your use of the Websites or Services, your violation of any third-party right or law, or your violation or alleged violation of this Agreement. You must not settle any such claim or matter without the prior written consent of Arena. The Arena Parties reserve the right, at their own expense, to assume the exclusive defense and control of any matter subject to indemnification by you, and you further agree that you will cooperate fully in the defense of any such claims.

Limitation on Damages. Arena’s liability, if any, shall be limited to direct and foreseeable damages, which shall not exceed the amount provided below. Under no circumstances shall Arena be liable for indirect, incidental, consequential, special, statutory, punitive or exemplary damages such as, but not limited to, loss of revenue or anticipated profits or lost business, loss of or damage to data, or emotional distress notwithstanding any other provision of this agreement. In no event shall Arena’s total liability exceed USD $100.00. These limitations and exclusions apply even if this remedy does not fully compensate you for any losses or fails of its essential purpose or if we knew or should have known about the possibility of the damages. To the maximum extent permitted by law, these limitations and exclusions apply to any claims related to this agreement or to the services.

Links to Third Party Websites. The Websites may contain links to websites maintained by third parties. Such links are provided for your convenience and reference only. We do not operate or control in any respect any information, software, products or services available on non-affiliated third-party websites. Our inclusion of a link to a website does not imply any endorsement of the services or the website, its contents, or its sponsoring organization. Your use of any such third-party websites may be subject to other terms and conditions imposed by the third parties maintaining those websites. When you leave the Websites, you agree that Arena is not responsible for the accuracy or content of the information provided by that website, nor is it liable for any direct or indirect technical or system issues arising out of your access to or use of third-party or programs available through that website.

Errors and Delays. You agree that Arena is not responsible for any errors or delays in responding to a request or referral form caused by, including but not limited to, an incorrect email address or other information provided by you or other technical problems beyond our reasonable control.

Dispute Resolution, Governing Law, Waivers and Limitations. You agree that any dispute between you and us, including without limitation disputes relating to the websites, content or services (“dispute”), shall be finally and exclusively resolved by legal intervention.

You also agree that any dispute or cause of action arising out of or related to the Websites, Services or Content must be commenced within one year from the later of (1) when the dispute or cause of action occurs or, (2) through the exercise of reasonable diligence you should have known about the occurrence or the cause of action. Otherwise, such cause of action is permanently barred. This Agreement (including all referenced or incorporated policies, agreements and other provisions) constitutes the entire agreement between you and Arena and supersedes all prior or contemporaneous oral or written agreements or other communications between the parties with respect to the subject matter hereof. If a conflict between the language of this Terms of Use Agreement and the language of any terms incorporated by reference, the latter incorporated terms shall control.

You acknowledge and agree that, in entering into this Agreement, you are not relying on any representation, warranty, statement or promise, express or implied, not explicitly set forth in this Agreement, and you hereby waive any claimed reliance on the same. If any provision of this Agreement shall be found to be invalid or unenforceable, you agree such provision shall, to the maximum extent feasible, be modified by to render it enforceable with respect to the Dispute at issue and to reflect to the maximum extent possible the intent of the existing language of the provision when considered in the context of this Agreement as a whole, that such modified provision shall be enforced with respect to the underlying claims in the Dispute at issue, and that such a finding of invalidity or unenforceability shall not affect the validity or enforceability of this Agreement as a whole or of any other provision of this Agreement.

Terms Applicable to All Services. We provide educational content and referrals to our clients as part of the service that Arena offers. By submitting any form through an Arena Website, and separately for each such request you submit, you are indicating that you desire to be contacted by Arena, and you are providing express written consent that Arena or a third party on Arena’s behalf may deliver calls or text messages to you, including for marketing purposes, using an automatic telephone dialing system or an artificial or prerecorded voice to the phone number you have provided. You understand that you are providing this consent to receive such telephone calls even if your telephone number is currently listed on any federal, state, local, internal, or corporate Do-Not-Call (“DNC”) Lists. You understand that you are not required to consent to receive these communications as a condition of using Arena’s services.

You consent to receive email from Arena, its affiliates, and its Providers at the email address you provided or at other addresses that may be associated with you that we receive from Providers or other parties. You hereby consent to any such email, so it will not be considered spam or unauthorized by any local, state or federal law or regulation. You agree that the consents described herein shall remain valid and in effect until you revoke them by opting out as described below.

You may opt out of receiving calls from Arena at any time by emailing support@arenacfo.com to expressly state in writing that you no longer wish to be contacted by Arena and are revoking your consent to be contacted.

Any form you submit is not an application for credit. Rather, it is an inquiry that may be able to present conditional offers. You understand that Arena may keep your form information and any other information provided or received in the processing of your form, whether you are qualified for a product with them or complete a formal application for services with them.

For any Service, by saving your information with Arena or submitting a form through the Arena website, you represent that all the information you have provided is true, accurate, current and complete. You further acknowledge that you alone will use your account to access the Services. You must not sell, transform, or assign your account to anyone else. You agree to keep your login information confidential, to employ reasonable and appropriate safeguards to prevent unauthorized access to your account, and to not share your account credentials with any third party or allow anyone else to log into our Services as you. You are responsible for all activities that occur under your member account. If you believe that your account is no longer secure, you agree to notify us immediately. In addition, Arena reserves the right to use your information with our partners as needed to perform services on your behalf.

When you “submit” information, create an account or otherwise register for Services through our Websites, you understand and agree that you have established a business relationship between you and Arena. Accordingly, Arena may send your information to certain affiliates and third parties as provided in the Privacy Policy, and you agree that Arena, its affiliates, and persons calling on Arena’s behalf may contact you using information you provided with information and offers of services available through Arena and the Websites. You also give Arena permission to retain all such provided information and to make live or recorded calls to discuss, provide, or remind you of any information regarding your submission.

In addition, certain state and federal laws require that the information you provide us is housed and securely maintained and cannot be removed, purged, or destroyed until the expiration of certain prescribed periods. Arena may also maintain and share information provided by you and about you by third parties for internal marketing and analytics.

Services offered by Providers may only be made to residents of states where Providers are authorized to make such Loans. A Provider’s participation in and offering of its products on the Websites does not constitute an offer by any Provider or by Arena to provide services outside of their authorized jurisdictions, and to the extent you seek or receive information from a Provider regarding any prospective service which would be outside of the Providers’ authorized jurisdiction, that information is for informational purposes only. Providers shall have the right to discontinue, suspend or terminate the offering of any Loan product in any specific state through the Websites at any time, without prior notice.

We do not guarantee acceptance into any particular program or specific terms or conditions with any Provider; approval standards are established and maintained solely by individual Providers. Likewise, we do not guarantee that the rates offered by Providers include the lowest rates available in the market or the rate that the Providers will ultimately charge. A Provider’s conditional Loan offer may be subject to market conditions, approval and qualification. The rates and fees actually provided by Providers may be higher or lower depending on your complete credit profile, collateral/property considerations (if applicable) including but not limited to location, equity and value and income/asset consideration including but not limited to Loan to value and debt to income ratios. Unless expressly stated in writing, nothing contained herein shall constitute an offer or promise for a Loan commitment or interest rate lock-in agreement. Providers may not offer all products as well as not offer products in all states. You might not be matched with the Provider making any specific offer. If you agree to terms with any Provider with whom you are matched on our Websites, you will be responsible for paying for any closing costs associated with your Loan (such as settlement services, Loan processing, underwriting or funding fees) at closing.

By clicking on any button indicating an acceptance or agreement to terms, a continuance of processing or submission (collectively, a “submission”) you understand that you are consenting, acknowledging, and agreeing to the stated terms and conditions of that submission and that you are submitting an inquiry for a Service through Arena to each of the Providers to whom your Loan request is transmitted. You are also indicating that you are consenting, acknowledging, and agreeing to receive notices, disclosures, and other communications (“Disclosures and Communications”) in electronic form (either by email or via the Internet) as provided for in the Consent for Electronic Disclosures and Communications from Arena and its Providers.

Termination. You may terminate your relationship with us by notifying us in writing using the information in the Contact Us section below. We may terminate your use of the Website on any grounds, without notice, and without liability to you or any third party. If your use of the Website is terminated, you will still remain liable for any obligations you have incurred in connection with using the Website. We have the right to bar you from accessing the Website without liability to you or any third party. Under no circumstances is Arena obligated to provide a refund. Transition work completed upon your request outside the scope of agreement or after termination will be billed at a rate of $100.00 per hour and due within 15 days of invoicing.

Contact Us. We may send you notices, statements, or any other type of communication by regular mail or email, by posting it on our Website, or by any other reasonable methods. You also agree that we may post changes to the Terms of Use or other matters through links on our Website. You shall provide notice to us at: Arena 4023 Chain Bridge Rd, Fairfax VA 22030. You may contact us by email at support@arenacfo.com, or by using the address above.