Revised August 16, 2025

These Modu Card Program Terms set forth the requirements for your participation in the Modu Card Program and the terms that govern your use of Cards, including the process for obtaining and managing Cards through your Modu Account, and the issuance and use of Cards as governed by Issuer Terms between you and Issuers.
We may update these Modu Card Program Terms at any time, subject to the notice provisions herein, and your continued use of Cards will constitute acceptance of the updated terms.
These Modu Card Program Terms include an authorization for Modu to automatically debit your Linked Accounts for amounts owed for use of the Services, including Charges, Fees, Fines, and transactions you make on Cards.
Capitalized terms that are not defined in Section 5 have the definitions provided in the Platform Agreement.

Table of Contents

• Payment Cards
• Payments
• Specialty Card Features and Programs
• Modu Fraud Protection
• Defined Terms

1. Payment Cards
1.1 Issuer Terms
Cards are issued by a licensed bank partner of Modu, or any other bank as identified on the back of physical Cards issued to you, on your Account page on our website, or in relevant program materials provided to you. The Issuer is the creditor responsible for funding your Charges. These Modu Card Program Terms and the Issuer Terms concurrently govern your use of the Cards. You may only use the Cards if you consent to the applicable Issuer Terms. Please be aware that the Issuer Terms may state that (1) Issuers may update Issuer Terms at any time, and (2) your continued use of the Cards constitutes your acceptance of such updated Issuer Terms.

1.2 Linked Accounts
We will use Financial Data to verify account balances and account information, identify spending patterns and potential fraud, determine and review spending limits, analyze and report transactions, and provide Services. You must maintain at least one Linked Account at all times and agree that Modu may directly debit any Linked Account for payment of amounts owed. You may change or update Linked Accounts through your Modu Account. Use of specific Services or features may also require Modu to access Company Data through Third-Party Services.
If you receive a Card with Daily Payments, you agree to designate your Modu business account as a Linked Account.

1.3 Spending Limits
Company spending limits are set by Modu, at its sole discretion, using Company Data and other data available to Modu including available funds and spending patterns, unbilled volume, financial projections, the nature and history of Company’s business, foreign exchange rate fluctuations if you transact in currencies other than Kazakhstani tenge, and anticipated use of Cards. We may not disclose exact spending limits but may provide guidance identifying whether specific transactions or monthly volumes may exceed any spending limits. Spending limits are dynamic and may be modified at any time with or without Notice to you, including temporary increases or decreases or reducing spending limits to KZT 0.
Limits for Cards with Monthly Payments: We will often attempt to provide Notice before or soon after a potential spending limit decrease for Cards with Monthly Statements. There are times, however, where prior Notice will not be provided. In particular, you agree that we may not provide Notice when spending limits are increased or decreased as part of our regular periodic review of your spending limit based on the factors described above, and you understand such regular periodic adjustments are an inherent part of your Card.
Limits for Cards with Daily Payments: For Cards with Daily Payments, spending limits are set based in part on the available balance in Company’s Modu business account and may change as transactions are made from that account. Any authorized Charge, Fee, or Fine on a Card with Daily Payments may reduce your spending limit by a corresponding amount, which you understand may be greater than or less than the amount of the final transaction. When you use a Card to initiate a transaction at certain merchants where the amount of the final transaction is unknown at the time of authorization (such as hotels, gas stations, restaurants, and rental car companies), a hold may be placed on funds in your Modu business account for an amount higher or lower than the final Charges.
For all Cards, Administrators may set Entity-specific and User-specific limits or controls through your Modu Account, but the aggregate spending limit for all Entities and Users (including Department Cards) may not exceed the total spending limit established for Company.

1.4 Requesting and Replacing Cards
Administrators may request Cards for Users through your Modu Account. Administrators are prohibited from requesting more than one active physical Card for any individual User other than for Users who are authorized to use one or more Department Cards. We may decide in our sole discretion not to grant requests for Cards or limit the number of physical or virtual Cards provided to any User.
In order to request a Card for any User, we may require Administrators to provide the User’s full legal name, contact information, personal address, and date of birth. Additional information may be required, as determined in our sole discretion. Cards may be denied or canceled due to changes in Issuer’s policies, as required by law, or for any other reasons we determine are appropriate in our sole discretion. Cards may be issued to Users as physical or virtual cards (a Card issued without an associated physical card).
Administrators may request that Users be issued Cards with specific restrictions made available by Modu. For example, we may allow Users to be issued vendor cards, which can only be used at specific merchants, or we may allow Users to be issued cards with expiration dates set by Administrator.
Administrators may request Department Cards. Any employee or contractor authorized to use a Department Card is considered a User, and all obligations relating to Users will apply with respect to such person. You are solely responsible for identifying and authorizing Users permitted to use Department Cards.
You are responsible for securing Cards, account numbers, and Card security features (including the CVV and PIN, if any). You will promptly notify us and take appropriate measures to prevent unauthorized charges when a Card is lost, stolen, breached, or needs to be replaced. In such cases, Administrators may request the issuance of replacement Cards by Issuers through your Modu Account. Replacement Cards may have new account numbers that could require you to update the Card on file for any scheduled or recurring payments. You are solely responsible for updating Card information stored with merchants where account numbers have been changed.

1.5 Using Cards and Unauthorized Use
Users may only use Cards for bona fide business-related Charges and transactions for Company purposes, and not for personal, family, or household purposes.
You understand that your Modu Account is commercial in nature and that certain consumer protection laws, such as the Credit Card Consumer Accountability, Responsibility, and Disclosure Act of 2009, do not apply to this Account. You agree that all Charges and other transactions in your Account will be treated as business transactions made solely for business purposes. You agree, in accordance with Section 135 of the federal Truth in Lending Act, that if at any time you have been issued ten (10) or more Cards for use by Users at Company’s request, then Company waives any and all limitations on its liability for unauthorized use of such Cards that it may have under the Truth in Lending Act.
You are responsible for selecting the individuals in your organization who are authorized to use Cards. You are responsible for all Card transactions and activities, including transactions made by your Entities. You agree to establish and maintain controls designed to ensure that the Cards are only used by authorized Users for bona fide Company business purposes and in compliance with the Platform Agreement, these Modu Card Program Terms, the Issuer Terms, and applicable law. You are responsible for Charges and transactions made by any person given access to Cards even if they are not the person associated with or named on the Card.
Modu, Issuers, Card Networks, or other intermediary Third-Party Service Providers (including merchant acquirers) may deny or reverse Charges for any reason. Modu is not responsible for any losses, damages, or harm caused by any Charges that are denied or reversed.
All Users are subject to the Platform Agreement and all terms, agreements, and policies incorporated by reference, including these Modu Card Program Terms, the Issuer Terms, and the User Terms. Company is responsible for ensuring that Users understand and comply with these obligations, including any amendments thereto.

1.6 Settlement Currency and Conversion
By default, all Charges, Fees, and Fines must be paid in your "Settlement Currency," which will be specified in your Modu Account and may vary by region or agreement between you and us. If a Charge is made on a Card in a currency other than the Card’s Settlement Currency, we will determine the foreign exchange rate (“FX Rate”) applied to the transaction. The FX Rate may vary from time to time or vary among customers depending on your relationship with us, the type of transaction, the amount, type of currency, the date and time of the exchange, and/or other factors we deem relevant. The FX Rate may include costs or other markups as determined by us in our sole discretion, which are typically up to three percent (3%) of the Charge amount. This rate may be less favorable to you than rates publicly quoted or available to us through our banking or payment partners.
The amount of any Charge made on a Card will be calculated as of the date of the transaction and denominated in that Card’s Settlement Currency. You agree that the amount you owe for any such Charge is determined with reference to that Settlement Currency, regardless of any subsequent changes in the FX Rate against other currencies. This means that the equivalent amount in another currency on the date of your payment may be higher or lower than the equivalent on the transaction date.
For each Settlement Currency, you agree to pay us the amount due in that Settlement Currency. For example, if you have 100,000 KZT in Charges in KZT Settlement Currency Cards, and 250 USD in Charges in USD Settlement Currency Cards, you agree to pay us 100,000 KZT and 250 USD, and not an equivalent amount converted entirely into one currency. You may designate one of your Entities to pay us the amount due in the Settlement Currency on your behalf, but you remain responsible for paying such Charges.
If you do not pay us amounts due on the Due Date, we may withdraw amounts due in an alternative Settlement Currency from one of your Linked Accounts. In such cases, or if we allow you to pay us in a different Settlement Currency, we will determine the converted amount using an FX Rate obtained from one of our banking or Third-Party Service Providers on or near the date of withdrawal.
If we withdraw payment in one currency and later receive payment in the original Settlement Currency (for example, if the payment in Settlement Currency is delayed in transit), then you agree we may refund you for any overpayment in either the original Settlement Currency or in the alternative currency we received from you, at our sole discretion.

1.7 Disputing Charges
You are responsible for reviewing your Periodic Statements promptly and identifying any Charges that you believe are erroneous, unauthorized, or that you wish to dispute.
If you and a merchant have a dispute regarding a Charge on your Periodic Statement – for example, incorrect goods or services delivered, or being charged the wrong amount – you should first attempt to resolve the dispute directly with the merchant. If the dispute is not resolved to your satisfaction, or if you believe the Charge is unauthorized, you may initiate a dispute through your Modu Account.
The Modu Card Program is subject to the applicable Card Network rules regarding chargebacks. These rules set specific procedures for resolving disputed Charges, and you may be required to provide details and supporting documentation. To preserve your rights, you must initiate a dispute within 90 days of the date the Charge posts to your Account, as the Card Networks may not process disputes reported after this time.
Pending disputed Charges will still appear on your Periodic Statement and must be paid by the due date. If the Chargeback is resolved in your favor, the credited amount will be reflected in your Modu Account in the current or a future Statement.
We may impose Fees, adjust your spending limits, or suspend access to your Modu Account or Services if you fail to pay Charges related to disputed transactions that remain unresolved by the payment due date.

2. Payments
2.1 Periodic Statements
You – and not your Entities – are responsible for full payment of all Charges, Fees, and Fines. We will provide you with Periodic Statements that identify all Charges, Fees, Fines, refunds, other Card transactions, and any amounts owed or credited to your Modu Account, including items attributable to each of your Entities.
Periodic Statements may be delivered on a daily, monthly, or other schedule, as described in the materials provided when you receive your Card, or as later communicated by Notice. When you sign up for a Modu business account and apply for a Card with Monthly Payments, we may provide you with a Modu Card with Daily Payments to use while your application is under review. If you accept this offer, the Daily Payment Card will serve as your temporary Card, and the terms of that Card will apply until we notify you of approval for the Monthly Payment Card. Once approved, the Monthly Payment Card terms will apply.
At the end of each billing cycle (or as otherwise specified in your Periodic Statement), Modu will automatically debit your Primary Linked Account for all amounts owed. In certain cases, Modu may delay this debit or, if the scheduled debit date falls on a non-business day, initiate the debit on the nearest prior business day. If an automatic debit fails, we may reattempt the debit from your Primary Linked Account or charge another Linked Account to recover the amounts owed. You may also make additional payments at any time by logging into your Modu Account.

2.2 Failure to Pay, Set Off, Collections
If you fail to pay the full amount owed on time, Modu may attempt to collect outstanding amounts from any Linked Account, whether or not it is designated as your Primary Linked Account. We may collect partial payments from any Linked Account, but acceptance of a partial payment does not waive our rights and does not release you from your obligation to pay the full amount due.
Any amounts owed may also be set off, debited, or collected from balances in any Modu Account you hold, including accounts opened in the future, even if the original account has been closed. This right extends to Company or its successors, assigns, or any representatives acting on behalf of your creditors.
Failure to pay amounts owed to Modu when due constitutes a breach of the Platform Agreement and these Modu Card Program Terms. You – and not your Entities – are responsible for all costs and expenses incurred by Modu or its Issuers in the process of collecting overdue amounts, including legal fees, third-party collection costs, and any expenses resulting from the actions or inactions of your Entities. Interest may accrue on overdue amounts at a rate up to the maximum permitted under applicable law, at Modu’s discretion.

2.3 Authorization to Debit Linked Accounts
Your Authorization to Debit Linked Accounts
You authorize Modu, Issuers, or their successors and assigns to collect any amounts owed under these Modu Card Program Terms by debiting funds from your Linked Accounts (including accounts no longer connected to your Modu Account). You also authorize us to debit your Linked Accounts for verification purposes (for example, through test transactions or microdeposits). Debits may be processed in the name of Modu or its successors and assigns.
Manner and Timing of Payment
We will automatically debit your Linked Accounts for all amounts owed in connection with the Services. If payment cannot be collected via the default method, you agree to immediately settle the balance using another method we designate. Fees may be debited separately from other Charges.
You also authorize Modu to debit your Linked Accounts immediately, on any date (including before the due date), and without additional Notice, if we determine in our sole discretion that:
(a) the combined balance of Linked Accounts connected to your Modu Account falls below the minimums required by our underwriting criteria,
(b) Company no longer meets one or more of our underwriting or credit requirements, or
(c) Company or the amounts owed present, or may present, an unacceptable risk to Modu, its Program Partners, Service Providers, or Issuers.
In the event of an error in processing a debit, you authorize us to correct it by initiating a debit or credit adjustment to the relevant Linked Account.
Withdrawing Your Authorization
To withdraw debit authorization from a Linked Account, you must provide us with at least 30 days’ written notice. If you withdraw authorization from all Linked Accounts, you must first pay in full all amounts owed under your Modu Account, including Charges, Fees, Fines, and any other amounts not yet reflected on your Periodic Statement. We may debit your Linked Account for such amounts before the withdrawal of authorization becomes effective.
Withdrawal of debit authorization does not terminate the Platform Agreement or relieve Company of its obligation to pay all amounts owed under these Modu Card Program Terms or the Issuer Terms. Company remains responsible for all costs of collection and damages if amounts are not paid when due.

2.4 Fees
We will disclose applicable Fees to you when you are approved for a Card, in these Card Program Terms, or through our website. We may introduce new Fees or increase existing Fees with at least 30 days’ Notice to you. We may also charge a new or increased Fee earlier if you explicitly agree to it.
Fees may include, but are not limited to: periodic fees, fees for Card issuance or replacement, transaction-based fees, usage or service fees, cash advance fees, late payment fees, failed or returned payment fees, or other fees we disclose to you. You are responsible for all Fees in addition to Charges and Fines.
If you fail to make timely payments on your Modu Card, you may be charged a late fee equal to 2.99% of the overdue balance, or USD $38 (or local currency equivalent), whichever is higher. This late fee may be applied once per statement cycle that remains unpaid thirty (30) days past the due date.
If we agree to a repayment plan for any delinquent amounts, and the plan extends beyond six (6) months, an extended repayment fee of up to 10% of the outstanding delinquent balance may apply, distributed across the repayment installments.

3. Specialty Card Features and Programs
3.1 Card Transfers
The Modu Card Transfer feature allows you to reassign a Modu Card from one User to another in limited circumstances, for example, when a User departs from the Company and temporary continuity is required to maintain pre-approved business expenses. If you choose to use this feature, the Card:

• may only be transferred to another User (a) that you have authorized to use the reassigned Card; and (b) who has active Modu User credentials; and
• may only be used with the same merchants previously used by the Card’s former holder for card-not-present transactions.

Before transferring Card ownership, you must, with respect to each such Card:

1. Review all existing spend on the Card and confirm that all merchants appearing on the transaction history are acceptable, appropriate, and may continue to be used for business purposes;
2. Ensure that the former cardholder destroys or returns all physical Card(s) and deletes all Card information from all of their devices; and
3. Obtain any required consents from the former cardholder to the continued use of the Card.

Modu and its Issuers shall not be liable for any losses, damages, or disputes arising from your decision to transfer a Card from one User to another.

3.2 Modu Lodge Card
The Modu Lodge Card is a centralized virtual card number that can be used by your Company to transact with a designated travel management company (“TMC”).
By using the Modu Lodge Card, you acknowledge and agree that the relevant Card details will be transmitted to and stored by the TMC in order to facilitate travel bookings and related services. As a result, the TMC will have access to your Modu Lodge Card information. Modu and Issuers disclaim any liability for unauthorized use, loss, or disclosure of your Modu Lodge Card details by the TMC, its employees, contractors, or agents.
Your designated TMCs will relay transaction information to the Card Network. Modu then receives aggregated transaction data from the Card Network. Accordingly, discrepancies may arise between the information displayed in your Modu Account and the underlying transactions. Because Modu only receives and presents aggregated data, Modu and Issuers shall not be liable for any mismatches or delays between displayed information and actual transactions.
Modu Lodge Cards are issued with a single overall spend limit and one Administrator. They do not allow for the application of individual employee limits or automated travel policy enforcement. The Administrator is responsible for reviewing, monitoring, and approving all transactions conducted with the lodge card. The Administrator may lock the lodge card at any time or contact Modu Support to request cancellation.

4. Modu Fraud Protection
4.1 Introduction
Modu is committed to providing your Company with strong protections against unauthorized charges. Modu’s Fraud Protection Policy applies to all Card transactions, including those made in-store, online, over the phone, via mobile devices, or at ATMs, except as otherwise stated in the Specialty Card Features and Programs sections.
Under Modu’s Fraud Protection Policy, your Company will not be held liable for unauthorized charges on Modu Cards provided that you:
– comply with the Cardholder Responsibilities described below;
– remain in Good Standing with Modu; and
– ensure that charges are not the result of Cardholder Misuse or violations of the Modu Platform Agreement or Modu Card Program Terms.
If applicable law imposes a different or stricter liability framework, such law shall govern.

4.2 Cardholder Responsibilities
Modu relies on your Company to provide timely and accurate information regarding your Modu Account and Card activity. In return, Modu endeavors to protect you from fraud and will take reasonable steps to remediate fraudulent activity. To facilitate this protection, you must adhere to the following standards of conduct to remain eligible for Modu Fraud Protection.
4.2.1 Routine review of card transactions and reporting obligations
You must review the Periodic Statement for your Cards at least once per month. Transactions are available at any time through your Modu dashboard and should be reviewed on a regular basis. You must promptly Notify Modu of any unauthorized or suspicious activity.
4.2.2 Deactivation of cards and user account profiles
You must routinely audit your Modu Account to identify Users who should no longer have access, including individuals who resign, are terminated, or are otherwise no longer authorized to hold a Card. In such cases, you must deactivate and delete the User’s profile from your Modu Account promptly, and in no event later than 48 hours after the change in the User’s status. If you are unable to remove the User’s profile using the Modu dashboard, you must Notify Modu within 48 hours. Failure to do so may result in any subsequent activity being deemed “authorized,” at Modu’s discretion.
4.2.3 Deactivation of cards belonging to inactive users
You are expected to audit your Cards regularly and deactivate any Cards that belong to Users who are no longer active or authorized. In these cases, you must either promptly transfer the Card as described in Section 3 of these Modu Card Program Terms, or deactivate and terminate the Card within 48 hours of the User’s status change. If you are unable to deactivate the Card through the Modu dashboard, you must Notify Modu within 48 hours. Failure to do so may result in any continued use of the Card being considered “authorized,” at Modu’s discretion. If a former User’s Card has an outstanding balance, your Company remains responsible for settling the debt.

4.2.4 Report lost or stolen cards in a timely manner
You must Notify Modu of the loss or theft of any Modu Cards within 48 hours of the event. This requirement applies both to Cards already received under your Modu Account and to Cards that are in transit but do not arrive.
4.2.5 Report lost or stolen electronic devices in a timely manner
You must Notify Modu within 48 hours of the loss or theft of any electronic device that has been, or could reasonably be, used to access your Modu Account.
4.2.6 Protect accounts, cards, and card information
You are required to exercise reasonable care in safeguarding Modu Cards, including PINs and card details, against loss, theft, or unauthorized use. In addition to the responsibilities outlined above, reasonable care includes:

• Promptly reporting if you suspect that account or card information has been exposed or misused.
• Ensuring that Modu accounts, cards, and card information are not accessed by any unauthorized third parties.
• Practicing safe computing, such as using unique and complex passwords, maintaining antivirus and anti-spyware protections, enabling firewalls, and adopting other industry-standard security measures.

Modu may, from time to time, issue fraud alerts via email, SMS, dashboard notifications, and/or push notifications. Modu may also proactively lock a Card to mitigate suspected fraud risk. Both measures are intended to signal the presence of unusual or potentially unauthorized activity.
While you may choose whether to subscribe to fraud alerts, opting out of such notifications renders you ineligible for Modu Fraud Protection. You must respond to alerts promptly and accurately, and ensure your contact information remains current to enable Modu to protect your Account.
Companies and Users who repeatedly disregard fraud alerts or approve unauthorized charges may be subject to additional anti-fraud restrictions, may lose eligibility for Modu Fraud Protection, and/or may be denied continued access to Modu Cards.
If Modu locks a Card associated with your Account, you must review recent activity to confirm whether all transactions are authorized. By unlocking a Card, you acknowledge that all prior transactions on that Card are deemed authorized.

4.2.8 Respond and participate in Modu investigations
You, along with all relevant Users associated with your Modu Cards, must actively participate in any Modu investigation concerning alleged unauthorized charges. This includes being responsive to ongoing investigations and providing any supplementary information and/or documentation that Modu reasonably deems necessary to complete the review.

• You may be deemed unresponsive if you fail to reply to Modu after three or more contact attempts.
• You may be deemed unwilling to participate if you do not provide requested information within five (5) business days, or within the timeframe required by applicable card networks, whichever is shorter.

4.3 Cardholder Misuse
Modu will not be responsible for any losses that result from Cardholder Misuse, including use of a Modu Card:

• To obtain money or property through deceptive or misleading conduct, or to deprive another party (including the employer or Modu) of money or property;
• In violation of the cardholder’s employer’s expense policies, the Modu Platform Agreement, or these Modu Card Program Terms;
• Due to failure to exercise reasonable care in protecting Modu Cards, including PINs and card details, from loss, theft, or unauthorized access.

Examples of Cardholder Misuse include, but are not limited to:

• Misappropriation of company resources;
• Transactions that exceed an assigned or intended budget limit;
• Use of company cards for personal expenses;
• Submitting false or fictitious fraud claims;
• Falsifying records such as invoices, receipts, or transaction statements;
• Collusion with vendors, merchants, or suppliers;
• Identity theft involving employer or employee information to create or use Modu accounts or cards;
• Sharing card information with a third party for any purpose other than completing an authorized transaction;
• Card misuse by members of a cardholder’s household;
• Providing a card or card information to another person (even if they are an employee or another authorized cardholder) except for completing a specific approved transaction;
• Sharing card information through non-secure channels.

4.4 Dispute Crediting
4.4.1 Eligibility for Card Dispute Crediting
You may request credit to remediate losses tied to unauthorized charges if you file a formal transaction dispute through the Modu Dashboard or by contacting Modu Support. To be eligible for such crediting, you must meet the requirements of the Modu Fraud Protection Policy.
During the dispute process, you may also receive refunds or goodwill credits directly from merchants or service providers seeking to compensate their customers in cases of fraud or abuse. If you receive such credit from a third party, you must disclose it to Modu during the dispute resolution process and return any duplicate credits provided by Modu. Failure to return duplicate credits may result in reversal of credits, withholding of future credits, and/or ineligibility for Modu Fraud Protection.
4.4.2 Provisional and Final Credits
Modu may issue Provisional Credits, which are conditional and temporary credits granted before the final outcome of the dispute is determined. Provisional Credits may be reversed if:

• The merchant issues a refund on the disputed transaction (the refund will be reflected in your account, and the provisional credit will be removed);
• The card network adjudicates the dispute as not the responsibility of the cardholder (in which case the provisional credit will be converted into a Final Credit);
• After further investigation, Modu determines the dispute is not eligible under Modu Fraud Protection, and you are responsible for the transaction.

Final Credits are permanent credits issued once all investigations are complete. Modu reserves the right to revoke Final Credits if substantive new information arises after the dispute is closed. This includes identifying patterns of disputes that collectively undermine the validity of individual claims.

5. Defined Terms
Authorized Charge means a card transaction authorized by a cardholder, or by any third party whom the cardholder has, at any time, permitted to use the card and/or access card information.
Modu Card Program means the program through which Issuers issue Cards and extend credit to you, and for which Modu provides related Services.
Card means a physical or virtual payment card issued by an Issuer and managed through your Modu Account.
Card Networks means the payment card networks, including Visa, Mastercard, or other supported networks.
Issuer Terms means the agreement between the Company and the Issuer of your Card concerning your use of the Cards.
Charge means a payment for goods or services made to a merchant that accepts payments on the applicable Card Network.
Chargeback means a dispute initiated against a merchant for an unresolved dispute with the merchant or where a Charge is unauthorized.
Card with Daily Payments means a Modu credit card with a spending limit based on your available Modu business account balance, with payments withdrawn automatically from your Modu business account or other Linked Account the following business day after the transaction clears.
Card with Monthly Payments means a credit card with a 30-day or other periodic statement period, with payments due for that statement period withdrawn from your Linked Account or Modu business account, if applicable.
Department Card means a Card issued in the name of a Company department to be used by one or more authorized Users.
FX Rate is defined in Section 1.6 (Settlement Currency and Conversion).
Good Standing means that you do not have an outstanding Modu card or cash balance, have not filed for bankruptcy, are not subject to any legal process that would materially impact your ability to repay Modu, and have not issued any failed payment instruments (e.g. checks) within the prior month.
Periodic Statement means the periodic statements that reflect activity for all Cards issued to the Company, identifying Charges, Fees, Fines, refunds, or other amounts owed or credited to your Modu Account during the time covered by that statement.
Primary Linked Account means the specific Linked Account you designate as the funding source Modu should use first for payment of Charges, Fees, and Fines on your Modu Account. By default, the Primary Linked Account is the initial Modu business account you open with us.
Settlement Currency is defined in Section 1.6 (Settlement Currency and Conversion).
Third Party means any person or entity who is not the authorized cardholder and may include vendors, service providers, current or former employees of a company, or cardholders who are authorized to use a different Modu card.
Unauthorized Charge means a card transaction initiated on a company’s card without the cardholder’s authorization where the company, the cardholder, and/or any company User did not obtain any direct or indirect benefit, or where the intended benefit of purchased goods and/or services was materially not as described by the merchant.
Notify means to inform Modu either by disputing a charge via your Modu Dashboard or by contacting Modu Customer Support by phone, by email at support@modu.kz, or through in-app chat.