Split/IBAN Power of Attorney and Terms & Conditions

YOU, being a natural person and YOU account holder of Yoursafe (hereinafter: “Main Recipient”), hereby applies for the registration of a Split/IBAN. A Split/IBAN is an International Bank Account Number issued by Yoursafe which enables the automatic division of incoming funds between the Main Recipient and a designated third party beneficiary (hereinafter: “Beneficiary”), in accordance with the allocation settings determined and registered by the Main Recipient. By accepting these Terms and Conditions, the Main Recipient grants Yoursafe a Power of Attorney to execute and administer the transactions resulting from the use of the Split/IBAN as further described herein.

1. Grant of Power of Attorney

By approving this Power of Attorney, the Main Recipient irrevocably authorises Yoursafe to debit present and future amounts from the account held by the Main Recipient with Yoursafe, exclusively for the purpose of crediting the account of the Beneficiary. The debited amounts represent percentages of incoming funds which have been contractually agreed upon between the Main Recipient and the Beneficiary, arising out of future pay-outs by third parties, including but not limited to payment service providers, financial institutions, and platforms, into the Split/IBAN assigned to the Main Recipient. The Main Recipient expressly acknowledges and agrees that Yoursafe is authorised to carry out all legal and administrative acts that Yoursafe deems necessary or desirable for the execution of the subject matter of this Power of Attorney.

2. Authorisation of Transactions

Transactions debited from the Main Recipient’s account and credited to the Beneficiary’s account shall be regarded as duly authorised where three cumulative conditions are met. Firstly, the Main Recipient must have accepted these Split/IBAN Terms and Conditions during the registration process of the Split/IBAN. Secondly, a third-party pay-out must have become due and payable to the Split/IBAN of the Main Recipient. Thirdly, Yoursafe must have verified and approved the execution of the relevant transaction. Yoursafe retains full discretion with regard to the approval of transactions and is under no legal or contractual obligation to authorise any present or future transaction. Once a transaction has been verified and authorised by Yoursafe, such authorisation shall be final and cannot be withdrawn or revoked by the Main Recipient.

3. Costs of Transactions

All costs, fees and charges arising from or in connection with transactions processed through a Split/IBAN shall be borne exclusively and in full by the Main Recipient. This allocation of costs is based on the ongoing contractual relationship between Yoursafe and the Main Recipient as the account holder. The Beneficiary shall not, under any circumstances, be responsible for such costs, nor shall Yoursafe bear such costs on behalf of either party.

4. Term and Termination

This Power of Attorney is granted for an indefinite period of time. The Main Recipient and/or the Beneficiary do not have the right to unilaterally terminate or revoke this Power of Attorney. Yoursafe, however, reserves the right to terminate this Power of Attorney with immediate effect if Yoursafe, at its sole discretion, determines or reasonably suspects that the Split/IBAN, the account of the Main Recipient, the account of the Beneficiary, or any transaction executed under this Power of Attorney is being used, directly or indirectly, for fraudulent purposes, money laundering, terrorist financing, or any other illegal or prohibited activity. Upon termination by Yoursafe, all rights arising from this Power of Attorney shall lapse immediately and without compensation.

5. Limitations of Liability

Yoursafe acts solely as a payment service provider facilitating the transfer of funds in accordance with the instructions provided under this Power of Attorney. Yoursafe is not a party to, and assumes no responsibility for, the underlying commercial relationship or contractual arrangements between the Main Recipient and the Beneficiary. Yoursafe shall not be held liable for any defects, delays, or deficiencies in the products or services forming the subject matter of such commercial relationship. To the maximum extent permitted by law, Yoursafe shall not be liable for any indirect, consequential or incidental damages, including loss of profit, loss of opportunity or reputational damage. Yoursafe shall furthermore not be liable for damages resulting from force majeure events, including but not limited to natural disasters, acts of war, strikes, pandemics, governmental actions, technical failures outside Yoursafe’s control, or any other event beyond Yoursafe’s reasonable control.

6. Governing Law and Jurisdiction

This Power of Attorney and these Terms and Conditions shall be governed exclusively by and construed in accordance with the laws of the Netherlands. Any dispute, controversy or claim arising from or relating to this Power of Attorney, the Split/IBAN, or the services provided by Yoursafe in connection therewith, shall be submitted exclusively to the competent court of the District of Amsterdam, the Netherlands.

7. Fair Business Requirement

The granting and use of this Power of Attorney, as well as the services of Yoursafe connected thereto, are strictly conditional upon the requirement that the underlying relationship between the Main Recipient and the Beneficiary, and any other related relationship with third-party payment service providers, platforms or other involved parties, be based on fair, lawful, and equitable business practices. The use of the Split/IBAN and/or this Power of Attorney is expressly prohibited if the underlying relationship involves exploitation, coercion, violations of human rights, fraudulent or deceptive practices, or any other unfair or unlawful activity, all interpreted in the broadest possible sense. Should Yoursafe determine that such prohibited practices are involved, Yoursafe may, at its sole discretion, immediately terminate this Power of Attorney and block any related transaction(s), Split/IBAN(s) or account(s).

8. Final Provision

By registering a Split/IBAN and accepting these Terms and Conditions, the Main Recipient confirms having read, understood and agreed to the content of this Power of Attorney in its entirety, and acknowledges that the Power of Attorney constitutes a legally binding agreement between the Main Recipient and Yoursafe.