Fees and Policies/Terms of Service
OVERVIEW: Cornerstone Funding Inc d/b/a Cornerstone Billing Solutions of Fox Lake, IL (“Servicer”) has entered into Billing Agreements or Services Agreements (“Agreements”) with many life safety companies in North America (“Customers”). Because Servicer has entered into different version of Agreements, and has introduced new services and software modules, this Fees and Policies Notice (“Notice”) is provided both on our www.alarmbills.com website and as a Tip Sheet at our online platform to help clarify use terms, certain policies, and services/software pricing. This Notice does not affect the terms of the Agreements, unless explicitly stated so below. Any updates of this Notice will “pop up” for Customer upon logging into the Online System, requesting acceptance. Whether or not Customer accepts the updated Notice at that time, if Customer then proceeds to use the Online System, such use will constitute acceptance of the updated Fees and Policies. Should there be any conflict between the terms of this Agreement and the Notices, the terms of the Notices shall apply.
CREDIT CARD PAYMENT PROCESSING & FEES: Customer has separately entered into an agreement with Finix of San Francisco, CA to act as a “payment service provider” and “payment facilitator”, where Customer is deemed a “Sub-Merchant”. Servicer has also entered into an agreement with Finix to be a Platform Provider using Finix’s proprietary software platform and an integration with Finix’s payment processing services. As a result, Servicer can support efficient processing of payments due to Customer from Customer’s subscribers, originating in Servicer’s SaaS platform. Servicer may provide access for Customer to a management dashboard developed by Finix; such dashboard includes credit card transaction and batch details, settlement information, chargeback information, and more.
Credit card processing fees through Servicer / Finix are shown below. Servicer reserves the right to customize pricing at its discretion, including increasing processing and/or per transaction fees if a Customer’s subscribers have a high mix of premium and/or corporate cards. Unless customized by Servicer for Customer, these card processing fees replace any card processing fees previously specified in the Customer’s Billing or Services Agreement.
COMPLIANCE WITH FINIX SUB-MERCHANT AGREEMENT: In order for Servicer to provide payment processing services, Customer must be and remain in full and complete compliance with the Finix Sub-Merchant Agreement. That agreement includes provisions requiring compliance with credit card industry association rules, available on websites such as http://www.usa.visa.com/merchants, http://www.mastercardmerchant.com, and https://icm.aexp-static.com/content/dam/gms/en_us/optblue/us-mog.pdf as updated from time to time. Similarly, the Finix agreement includes provisions requiring compliance with National Automated Clearing House Association (“NACHA”) rules and Federal Trade Commission (“FTC”) rules, as amended and in effect from time to time.
CARD SURCHARGING: Customer can opt to surcharge credit card charges in Servicer’s system, whether the charges are for recurring services or other products, systems and services. Per the credit card industry rules, the maximum amount of a surcharge is limited to 3.0%. Servicer has built a robust ‘Surcharge Management System’ that can automatically add surcharges, as well as check for debit cards (cannot be surcharged), opt out certain accounts from surcharging, and so on. Servicer will charge .3% of credit card volume ($50 monthly minimum) to enable and manage surcharging, both for recurring charges and for payments submitted through Servicer’s Alarmpayments.com website.
AUTOPAY / ALARMPAYMENTS LIMITS: The maximum amount of individual credit card or ACH debit charges that are submitted to Servicer for processing (whether scheduled or run through www.Alarmpayments.com) will be limited to LESSER OF Customer’s average recurring monthly revenue dollars processed by Servicer OR $10,000. Servicer reserves the right to reduce these limits at any time, at its sole discretion.
CENTRAL STATION INTEGRATIONS & DATA RESPONSIBILITY: As stated in Servicers Billing and Services Agreements, "Customer acknowledges that it is solely responsible for the integrity and daily management of the Billed Account data". If a Customer opts to use Integration Services as noted above, Customer agrees and acknowledges that a) it remains 100% responsible for data both in Servicer's system and data moved to/from other integrated systems, and b) the terms of the Billing or Services Agreement with Servicer--including "CUSTOMER OBLIGATIONS", "LIMITED LIABILITY", and "INDEMNIFICATION" paragraphs--extend to data associated with the Integration Services.
PAYMENT OF SUBSCRIBER RECEIPTS: The number of monthly payment subscriber receipts to Customer will be based on consistent levels of weekly subscriber receipts processed through Servicer. as follows: a) 2 payments weekly if $6,500+ weekly receipts, b) 1 payment weekly if $2,500+ weekly receipts, c) 2 payments monthly (mid-month and just after month's end) if $1,250+ weekly receipts, and d) 1 payment after month-end if less than $1,250 weekly receipts.
CB DEALERS: For dealers whose accounts are housed on Servicer's “CB” database, the functionality of that database is limited primarily to billing and account management features. Therefore, the Optional Service-and related fees-noted below will not be available, with the exception of www.Alarmpayments.com.
The Team at Cornerstone Billing Solutions