These Terms of Use (the “Terms”) are a binding agreement between you (“you,” “User”) and Splitz Inc., a Delaware corporation (“Splitz,” “we,” “us”), governing your access to and use of the Splitz website at www.splitzapp.co, the Splitz mobile applications, and all related products and services (collectively, the “Platform”).

BY CREATING AN ACCOUNT OR USING THE PLATFORM, YOU AGREE TO THESE TERMS, INCLUDING THE ARBITRATION AGREEMENT AND CLASS ACTION WAIVER IN SECTION 15. IF YOU DO NOT AGREE, DO NOT USE THE PLATFORM.

1. The Platform

Splitz provides financial technology services built for the creator economy, including: (a) purchases of creator receivables (advances), as described in Section 4; (b) payment facilitation, including multi-party payment splits and royalty distribution; (c) collaboration and split-agreement tools for rights holders; and (d) Splitz Streamz, a direct-to-fan music sales service governed additionally by the Splitz Streamz Terms & Conditions. Splitz is a financial technology company, not a bank. Certain banking services are provided by our partner bank, an FDIC-member U.S. financial institution (the “Partner Bank”).

2. Eligibility

The Platform is available only to individuals who are at least eighteen (18) years old, and to legal entities, in each case capable of forming a binding contract and located in the United States.

You represent that you are not: (a) located in, or a resident of, any jurisdiction subject to U.S. sanctions or embargoes; or (b) identified on any U.S. government restricted-party list, including the OFAC Specially Designated Nationals list.

3. Account Registration; Identity Verification

You must provide accurate, current, and complete information when registering and keep it updated. You authorize Splitz, directly or through third-party service providers, to make inquiries necessary to verify your identity, including as required under applicable anti-money-laundering (“AML”), Bank Secrecy Act (“BSA”), and know-your-customer (“KYC”) obligations, and to verify your ownership of any linked financial account. We may deny, suspend, or close an account if we cannot complete verification. You are responsible for maintaining the confidentiality of your credentials and for all activity under your account.

4. Advances — Purchase and Sale of Receivables

4.1 Nature of the Transaction. When Splitz provides you an advance, Splitz purchases from you, and you sell, assign, and transfer to Splitz, all right, title, and interest in the specified receivable(s) — such as amounts owed to you under a brand agreement, royalty statement, platform earnings, or Streamz sales proceeds (each, a “Purchased Receivable”) — in exchange for an upfront purchase price. Each advance is a true sale of a receivable at a discount. It is not a loan, does not accrue interest, and does not create a debtor-creditor relationship. 

4.2 Purchase Price and Fees. The purchase price, applicable discount or fees, and the amount of the receivable purchased will be disclosed to you in the Platform before you accept any advance. By accepting, you agree to the disclosed terms for that transaction.

4.3 Ownership; Collections; Authorization to File. Upon purchase, the Purchased Receivable belongs to Splitz. You irrevocably direct the applicable payor to remit payment of the Purchased Receivable as instructed by Splitz, and if you receive any proceeds of a Purchased Receivable, you will hold them in trust for Splitz and promptly remit them. You authorize Splitz to file UCC financing statements and take other actions to perfect its interest in Purchased Receivables.

4.4 Your Representations. For each receivable you sell, you represent that: (a) it is a bona fide, existing obligation arising from services actually performed or sales actually made; (b) you own it free of liens and have not sold or assigned it to anyone else; (c) the underlying agreement is valid and you are not in breach of it; and (d) all information you provide about it is accurate and complete.

4.5 Repurchase on Breach. Splitz bears the credit risk that a payor fails to pay a valid Purchased Receivable. However, if a Purchased Receivable is not paid because you breach Section 4.4, a dispute arising from your performance, fraud, or your interference with collection, you will, upon demand, repurchase the receivable for the amounts advanced plus disclosed fees, and Splitz may offset such amounts against balances or future payouts in your account.

5. Payments, Splits, and Custody of Funds

5.1 Payment Services. The Platform enables disbursement of funds, including automated splits among collaborators you designate. You are solely responsible for the accuracy of split instructions.

5.2 How Funds Are Held. Funds pending disbursement to you are held in accounts maintained by Splitz at the Partner Bank. Funds held pending disbursement are not individual deposit accounts in your name. FDIC deposit insurance protects deposits at the Partner Bank in the event of the Partner Bank’s failure, subject to applicable FDIC rules and limits; it does not protect against the failure of Splitz.

5.3 Errors and Reversals. You authorize Splitz to reverse or correct erroneous transactions and to offset amounts you owe under these Terms against your balances or future payouts.

6. Fees

Splitz charges fees for certain services, including advance discounts/fees, transaction and transfer fees, and subscription fees. All fees applicable to a transaction or subscription are disclosed in the Platform before you commit. Fee schedules may change prospectively with notice.

7. Prohibited Conduct

• Providing false, inaccurate, or misleading information, including fabricated or inflated receivables;
• Using the Platform for money laundering, terrorist financing, fraud, or any unlawful purpose;
• Selling the same receivable more than once or to more than one purchaser;
• Interfering with the operation or security of the Platform, or accessing it by any means other than the interfaces we provide;
• Circumventing suspension or termination by opening a new account.

8. Intellectual Property

Splitz and its licensors retain all right, title, and interest in the Platform. You retain ownership of your content and, except for receivables sold under Section 4, your rights in your works. You grant Splitz a limited license to host, process, and display your content as needed to operate the Platform.

9. Third-Party Services

The Platform relies on third-party services, including the Partner Bank, identity-verification providers, payment processors, and Apple Inc. (for in-app purchases and subscriptions). Your use of those services may be subject to their separate terms. Splitz is not responsible for third-party services.

10. Split Agreements

Where the Platform facilitates split or collaboration agreements among rights holders, those agreements are solely between the participating rights holders. Splitz is not a party to them, makes no representation regarding any user or the accuracy of user-supplied split data, and has no liability arising from them.

11. Disclaimers

THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” TO THE MAXIMUM EXTENT PERMITTED BY LAW, SPLITZ DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. SPLITZ DOES NOT PROVIDE LEGAL, TAX, ACCOUNTING, OR INVESTMENT ADVICE.

12. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, SPLITZ WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, DATA, OR GOODWILL. THE AGGREGATE LIABILITY OF SPLITZ FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THESE TERMS OR THE PLATFORM WILL NOT EXCEED THE GREATER OF (A) U.S. $500 AND (B) THE FEES PAID BY YOU TO SPLITZ IN THE TWELVE (12) MONTHS PRECEDING THE CLAIM. THESE LIMITS DO NOT APPLY TO AMOUNTS YOU OWE UNDER SECTION 4.

13. Indemnification

You will indemnify, defend, and hold harmless Splitz and its affiliates, officers, employees, and agents from any claims, losses, and expenses (including reasonable attorneys’ fees) arising out of your use of the Platform, your content, your breach of these Terms, or your breach of any representation in Section 4.

14. Term; Suspension; Termination

Either party may terminate at any time. Splitz may suspend or terminate your access immediately for suspected breach, legal or compliance risk, or failed verification. Termination does not affect completed receivable purchases, amounts owed, or Sections 4, 5.3, and 11 through 17, which survive.

15. Dispute Resolution — Arbitration Agreement and Class Action Waiver

PLEASE READ THIS SECTION CAREFULLY. IT AFFECTS YOUR LEGAL RIGHTS.

Any dispute arising out of or relating to these Terms or the Platform will be resolved by binding individual arbitration administered by JAMS under its rules, in Los Angeles County, California, rather than in court, except that either party may bring an individual claim in small-claims court or seek injunctive relief for intellectual-property misuse. YOU AND SPLITZ EACH WAIVE THE RIGHT TO A JURY TRIAL AND TO PARTICIPATE IN A CLASS ACTION. You may opt out of this arbitration agreement by emailing legal@splitzapp.co within thirty (30) days of first accepting these Terms. 

16. Governing Law

These Terms are governed by the laws of the State of California, without regard to conflict-of-laws principles, except that the Federal Arbitration Act governs Section 15.

17. General

These Terms, together with the Privacy Policy and, if applicable, the Splitz Streamz Terms & Conditions, are the entire agreement between you and Splitz regarding the Platform. We may update these Terms prospectively by posting the revised version with an updated effective date; material changes will be notified through the Platform or by email. You consent to receive notices and agreements electronically. You may not assign these Terms without our consent; we may assign them freely. If any provision is unenforceable, it will be modified to the minimum extent necessary and the remainder will stay in effect.

Contact: Splitz Inc., 1925 Century Park E, Los Angeles, CA · Info@splitzapp.co