Lockbox Mail Authorization

Lockbox Terms

Last Updated: September 9, 2026

This Lockbox Mail Authorization (this “Authorization”) supplements the Stedi Treasury Terms and the Service Terms between you (“Customer” or “you”) and Stedi, Inc. (“Stedi,” “we,” or “us”). It applies only if you use Stedi Lockbox. Capitalized terms not defined here have the meanings given in the Stedi Treasury Terms or the Service Terms, as applicable. If this Authorization conflicts with the Stedi Treasury Terms or the Service Terms with respect to Stedi Lockbox, this Authorization controls.

1. What Stedi Lockbox is

Stedi provides one or more mailing addresses (each, a “Lockbox Address”) for receiving mail sent to you by payers and their agents. Lockbox Addresses are established and titled in Stedi’s name and are provided through Stedi’s mail service provider, which receives, opens, and scans mail on Stedi’s behalf. You may give a Lockbox Address to payers and their agents for delivery of payments and remittance documents.

2. Your authorization

You agree that an electronic image of a check has the same legal effect as the original check and may be processed, presented, and collected as such. You authorize Stedi and its service providers to act as your agent in order to:

(a) receive and take delivery of mail addressed to you or your billing entities at a Lockbox Address;

(b) open that mail and inspect, image, and electronically store its contents;

(d) endorse, on your behalf, checks payable to you or your billing entities, in any form Sponsor Bank requires or permits, and deposit those checks into the applicable Stedi Treasury account by transmitting an image of the check to Sponsor Bank; and

(e) hold, store, and dispose of original items and other mail as described in Section 5.

Stedi holds all mail and original items received under this Authorization as your agent and for your benefit.

3. Each check is deposited once

Each check received at a Lockbox Address will be deposited one time. You agree not to deposit, present, or transmit any check received at a Lockbox Address through any other account, service, or financial institution, and to notify us promptly if you learn that a check has been deposited more than once. You remain responsible for returned, reversed, or unpaid items and for amounts credited in error, as provided in the Stedi Treasury Terms.

4. Items we cannot deposit

Sponsor Bank does not accept all paper items. We may decline to deposit any item, including an item not payable to you or a billing entity you are authorized to act for, an item that is altered or appears fraudulent, an item not drawn on a U.S. financial institution or not payable in U.S. dollars, an item dated more than six months before deposit, an item previously deposited, any item Sponsor Bank rejects, or any other item designated as ineligible under the Grasshopper Bank Master Services Agreement or by Sponsor Bank. We may decline or suspend deposits if your account is negative or restricted or has had repeated returned items.

5. Original items and other mail

Unless you instruct otherwise, we retain Customer Mail (mail and packages received at your Lockbox Addresses, “Customer Mail”) or at least 30 days from receipt. Before destruction, we will provide any original item to you, or to Sponsor Bank, on request and at your cost. You may request return of original mail, at your expense, while we hold it. We do not forward physical mail by default. We may retain specific items longer where Sponsor Bank requires or where a deposit is returned or disputed. If a deposited check is returned or dishonored after the original has been destroyed, the original will not be returned, and the amount of the check and related fees may be charged back to your account. You agree that we and Sponsor Bank may process an electronic or paper reproduction of any replacement check you obtain.

6. Timing and funds availability

Receipt, processing, deposit, and settlement depend on mail delivery, Sponsor Bank, payment networks, and applicable cutoff times, and deposits are subject to Sponsor Bank’s funds availability policy. We do not guarantee that mail will be received, processed, or deposited within any particular time. Funds availability for check deposits made under this Authorization is not governed by Regulation CC; Sponsor Bank determines availability and may extend holds in its discretion.

7. Your representations

You represent and warrant that: (a) you are authorized to receive, and to direct payers to send, the mail delivered to your Lockbox Addresses; (b) you will use Lockbox Addresses only for business purposes related to your use of Stedi’s services, and not as a general business or mailing address, for personal mail, or for any unlawful purpose; and (c) each check deposited under this Authorization is payable to you or to a billing entity you own or are authorized to act for.

8. Postal and other authorizations

You will promptly complete and deliver any additional documentation that Stedi, its mail service provider, Sponsor Bank, or the United States Postal Service requires in order for Stedi to receive mail on your behalf, including USPS Form 1583 or its successor if requested.

9. Protected health information

Mail delivered to a Lockbox Address may contain protected health information. Stedi’s handling of that information is governed by the Business Associate Addendum between you and Stedi.

10. Sponsor Bank

Stedi is a financial technology company, not a bank. Deposit accounts and banking services are provided by Sponsor Bank, Member FDIC, under the agreements you accepted when your Stedi Treasury account was opened.

11. Changes, revocation, and closing

We may update this Authorization as described in the Stedi Treasury Terms. You may revoke this Authorization at any time by closing your Lockbox in the Stedi portal or by written notice to Stedi. Revocation applies prospectively only and does not affect items already received or deposited. After revocation we will stop receiving mail at your Lockbox Addresses and will handle mail already received as described in Section 5. Mail sent to a closed Lockbox Address may be returned to sender or treated as undeliverable.