ELECTRONIC FUND TRANSFER DISCLOSURE
This Electronic Fund Transfers Agreement and Disclosure is the contract which covers your and our rights and responsibilities concerning the electronic fund transfers (EFT) services offered to you by FarmTogether, Inc. (FarmTogether). In this Agreement, the words “you,” “your,” and “yours” mean those who sign up on the FarmTogether Online Platform (Platform) and utilize the Platform to invest in farmland real estate offerings or any authorized users. The words “we,” “us,” and “our” mean FarmTogether. The word “account” means your membership on the Platform, for which you have been vetted and confirmed as a valid and authorized user, and through which you make investments from your bank account into investment vehicles facilitated by FarmTogether, BUT IT DOES NOT REFER TO YOUR BANK ACCOUNT. Any reference to your bank account will be referred to as such. Electronic fund transfers are electronically initiated transfers of money from your bank account, which you utilize the Platform to initiate, and which allow you to invest in the FarmTogether offerings. By using any FarmTogether service, you agree to the terms and conditions in this Agreement and any amendments for the EFT services offered.
FarmTogether typically utilizes ACH systems to perform EFTs on your behalf. ACH (Automated Clearing House) is a system used to transfer funds electronically between the accounts of businesses and individuals. ACH automates common transactions and replaces the slower and more cumbersome paper-based system of checks, drafts, deposit and withdrawal slips, and other forms of money transfer. ACH is efficient, low-cost, and a safe means of conducting financial transactions. Because all transactions are initiated and processed electronically, ACH is significantly less expensive and more efficient than paper-based systems. ACH is also less expensive than wire transfers. FarmTogether also may utilize wire transfers to perform EFTs on your behalf.
TRANSFER TYPES AND LIMITATIONS
Account Access. You may use your Account to invest in FarmTogether investment offerings. When you utilize the Platform to make an investment in such an opportunity, the Platform executes a debit from your bank account through an ACH transaction and subsequently credits that account through an ACH transaction once rent distributions begin paying out. Alternatively, the Platform may execute a wire transfer using the information you provide us in order to complete the same transaction.
Limitations on Frequency and Dollar Amounts of Transfers. FarmTogether places no limitation on the frequency with which you as an approved investor participate in FarmTogether offerings. However, our investment offerings have stated minimum investments that you must adhere by. In addition, there are occasionally limitations on the maximum value that you may invest in a particular deal, though there are no particularized limits on transfer dollar amounts made using your Account.
Confidentiality. We will disclose information to third parties about your account or the transfers you make:
Where it is necessary for completing transfers;
In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
In order to comply with government agency or court orders; or,
ELECTRONIC FUND TRANSFER SERVICE-PROVIDING INSTITUTION NOT HOLDING CONSUMER’S ACCOUNT
FarmTogether is a service-providing institution that does not maintain an account for the consumer besides the Account which allows the consumer to cause funds to be pulled from the consumer’s bank account in order to make an investment. Therefore, ALL QUESTIONS ABOUT TRANSACTIONS MADE USING YOUR BANK ACCOUNT ON THE FARMTOGETHER PLATFORM MUST BE DIRECTED TO FARMTOGETHER, INC., AND NOT TO THE BANK OR OTHER FINANCIAL INSTITUTION WHERE YOU HAVE YOUR ACCOUNT. We are responsible for the investment service provided through our Platform, and for resolving any errors in transactions made regarding such investments with your account and through the FarmTogether Platform.
We will not send you a periodic statement listing the investments you make while utilizing the FarmTogether Platform. The investments you are currently actively involved with will appear only on your personalized FarmTogether Platform Account Overview, as well as on the statement issued by your bank or other Financial Institution. SAVE THE RECEIPTS WE EMAIL YOU AND CHECK THEM AGAINST THE ACCOUNT STATEMENT YOU RECEIVE FROM YOUR BANK OR OTHER FINANCIAL INSTITUTION. If you have any questions about one of these transactions, write us at firstname.lastname@example.org or 1885 Mission St, San Francisco, CA 94103, USA.
IF YOU BECOME AWARE THAT YOUR ACCOUNT HAS BEEN OR IS BEING ACCESSED AGAINST YOUR PERMISSION, NOTIFY US AT ONCE by writing to us at email@example.com or 1885 Mission St, San Francisco, CA 94103, USA.
UNAUTHORIZED ELECTRONIC FUND TRANSFERS
Tell us AT ONCE if you believe or become aware that your FarmTogether account has been accessed by another without your permission or without your knowledge, or if you believe that an electronic fund transfer has been made without your permission using information from your FarmTogether account. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your bank account (plus your maximum overdraft line of credit). If you tell us within 4 business days after you learn of the improper access to your FarmTogether account you can lose no more than $50 if someone unlawfully or improperly accessed your account.
If you do NOT tell us within 4 business days after you learn of the improper access to your FarmTogether account, and we can prove we could have stopped someone from using your FarmTogether account without your permission if you had told us, you could lose as much as $500.
Also, if your statement from the financial institution maintaining your account shows transfers made through your FarmTogether Account that you did not make, tell us at once. If you do not tell us within 90 days after the statement was mailed to you, you may not get back any money you lost after the 90 days if we can prove that we could have stopped someone from taking the money if you had told us in time.
ERROR RESOLUTION NOTICE
In Case of Errors or Questions About Your Electronic Transfers:
Write us at 1885 Mission St, San Francisco, CA 94103, USA or email us at firstname.lastname@example.org.
if you think your account statement is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 90 days after we sent the FIRST statement on which the problem or error appears.When contacting us, you must provide:
- Your name and account number;
- A description of the error or the transfer you are unsure about, and as clear an explanation as possible why you believe it is an error or why you need more information; and,
- The dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question.
For errors involving new accounts, we may take up to 90 days to investigate your complaint or question.
We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.