Treasury Addendum
Last Updated: September 9, 2026
This Treasury Addendum (the “Addendum”) is incorporated into and forms a part of the existing agreement(s) governing your use of Stedi’s services (the “Terms”) between you (“you” or “Customer”) and Stedi, Inc. (“Stedi,” “we,” or “us”) and governs your access to and use of Stedi’s Treasury product (the “Platform”) and related software tools and functionality that enable you to initiate and manage transactions through third-party financial institutions and payment networks (the “Platform Services”). Capitalized terms used but not defined in this Addendum have the meanings given to them in the Terms. The “Platform Services” constitute a “Service” for purposes of the Terms, subject to the limitations and qualifications set forth in this Addendum. Except as modified herein, all provisions of the Terms, including any applicable Order Forms and incorporated policies, remain in full force and effect. In the event of any conflict between this Addendum and the Terms, this Addendum will control with respect to the Platform Services.
Stedi is a technology company, not a bank. The Platform Services enable you to access banking services offered by third-party financial institutions. Banking services are provided by Grasshopper Bank, N.A., Member FDIC (“Sponsor Bank”). When you open or use a deposit account with Sponsor Bank through the Platform Services (your “Account”), you are establishing a direct relationship with Sponsor Bank and are agreeing to Sponsor Bank’s Deposit Account Agreement, including any related disclosures and policies, and Sponsor Bank’s Privacy Policy (collectively, the “Bank Terms”). Stedi is not a party to the Bank Terms and is not responsible for the banking services provided by Sponsor Bank.
Agreement to Terms. By using the Platform Services, you agree to be bound by this Addendum. If you don’t agree to be bound by this Addendum, do not use the Platform Services. If you are accessing or using the Platform Services on behalf of a company or other legal entity, you represent and warrant that you have the authority to bind that company or other legal entity to this Addendum. In that case, “you” and “your” will refer to that company or other legal entity.
Changes. Stedi reserves the right to modify or change this Addendum, as well as its policies relating to the Platform Services, at any time, in our sole discretion. Stedi will post the revised version of this Addendum on our website. You will be deemed to have accepted and to have agreed to any revisions or changes to this Addendum at the time of (i) your acceptance of the revised, changed, or new Addendum, or (ii) your access to or use of the Platform Services after the effective date of the revised, changed, or new Addendum. If the revised, changed, or new Addendum is not acceptable to you, your sole and exclusive remedy will be to stop using the Processing Service and to close your Account.
Commercial Use. You represent and warrant that you will access and use all Platform Services for business purposes only and not for personal, family, or household purposes.
Eligibility to Use the Platform Services.
Eligibility. The Platform Services are only available to residents of the United States. You agree to use the Platform Services in compliance with this Addendum, and all applicable local, state, national, and international laws, rules and regulations (“Applicable Law”). Stedi may restrict or deny access to the Platform Services if you have previously been restricted or denied access.
Registration and Your Information. To use the Platform Services, you will be required to create an Account with the Sponsor Bank. To create an Account, you will be asked to provide certain identifying and other information requested by us or the Sponsor Bank. Please reference the Bank Terms for more information.
Accuracy of Account Information. You agree to provide us with accurate, complete and up-to-date information in connection with your use of the Platform Services and your Account and you agree to update such information to keep it accurate, complete and up-to-date. If any information provided in connection with the Platform Services or the Account is inaccurate, Sponsor Bank may suspend or terminate your Account.
Customer ID and Password Security. You will register a Customer ID and password to access the Platform and Platform Services. You are the only person authorized to use your Customer ID and password and for maintaining the confidentiality of your Customer ID and password. You shall not permit or allow other persons to have access to or use your Customer ID and password. You are responsible for the use of the Platform Services under your Customer ID.
Use of the Platform Services. Your use of the Platform Services is subject to the license granted in the Terms. Stedi reserves all rights not expressly granted in the Terms.
Your Authorizations. You authorize Stedi to submit transaction instructions to the Sponsor Bank based on your requests through the Platform Services. You acknowledge and agree that Stedi may rely on any such instructions without further verification, and that such instructions may not be reversible once submitted to the applicable payment network or financial institution. You are solely responsible for the accuracy and completeness of all transaction instructions.
Payment Network Rules. You agree to comply with all applicable rules and operating guidelines of payment networks used in connection with the Platform Services, including, as applicable, the NACHA Operating Rules for ACH transactions (the “Network Rules”). You acknowledge that your failure to comply with Network Rules may result in rejected transactions, reversals, fees, or penalties, for which you are solely responsible. For additional information on Network Rules and applicable payment methods, please refer to the Bank Terms.
Transaction Processing Discretion. Notwithstanding any instruction you submit through the Processing Services, Stedi may, in its sole discretion and without prior notice, delay, reject, cancel, or refuse to refuse to submit or facilitate any transaction where Stedi deems such action appropriate, including to comply with Applicable Law, Sponsor Bank requirements, payment network rules, or to mitigate risk, fraud, or potential loss. Stedi shall have no liability to you for taking any such action.
Timing; Funds Availability. You acknowledge that the timing of the initiation, processing, and settlement of transactions through the Platform Services is dependent on third-party financial institutions and payment networks, and may be subject to delays outside of Stedi’s control. Stedi does not guarantee that transactions will be completed within any particular time frame or that funds will be available at any specific time.
Fees; Payment. Fees for the Platform Services will be as set forth in the applicable Order Form or, if no fees are specified in an Order Form, as otherwise communicated to you by Stedi. You are responsible for all applicable taxes that arise from, or that are a result of, your use of the Platform Services. We reserve the right to change how we charge you for access or use of the Platform Services. We will communicate any such change to you. In addition to any other payment method supported by Stedi, by using the Platform Services, you authorize Stedi to debit your Account for any fees or other amounts that are owed to Stedi. All fees are nonrefundable and non-transferable unless otherwise provided in the Terms.
Sponsor Bank and Third-Party Fees: Sponsor Bank may charge fees for issuing your Account and for certain transactions (e.g., wire transfers). Additional fees may also be charged by the Sponsor Bank or other third-party service providers for their services. These fees are not included in our fees unless expressly stated otherwise. For more information, please refer to the Bank Terms.
Returned and Reversed Transactions. You are responsible for all returned, reversed, or rejected transactions initiated through the Platform Services, including those resulting from insufficient funds, incorrect instructions, or unauthorized or disputed transactions. You authorize Stedi and Sponsor Bank to debit your Account for the amount of any such transaction, together with any applicable fees, penalties, or costs incurred by Stedi or Sponsor Bank.
Authorized Users.
Actions of an Authorized User. You may authorize any of your employees, agents, consultants or service providers to access or use the Platform Services on your behalf (each an “Authorized User”). You acknowledge and agree that you are liable, and will hold Stedi harmless, for any actions or failures to act on the part of an Authorized User in relation to the Platform Services. You represent and warrant that you have entered into a separate agreement with each Authorized User, and you acknowledge that we have no obligations in relation to that agreement.
Limitations and Termination of Authorized Users. You may limit or revoke an Authorized User’s access at any time by updating or removing the Authorized User’s access rights within the Platform. Stedi, in its sole discretion, may deny or terminate access of any Authorized User, with or without notice to you, if we determine that (i) the Authorized User presents a risk to Stedi, Sponsor Bank, the Platform Services, your Account, or any other user, or (ii) you or your Authorized User have violated this Addendum or any other terms applicable to the Authorized User’s use of the Platform Services.
Authorized User Acknowledgement. If you use the Platform Service as an Authorized User, you represent and warrant that you: (i) are duly authorized and empowered by and for the individual or organization you are using the Platform Services on behalf of, and (ii) you accept this Addendum on behalf of such individual or organization.
Data and Content. Your rights and obligations regarding any data, information, or other content you provide in connection with the Platform Services (“Customer Data”) are governed by the Terms, as supplemented by this Addendum. You represent and warrant that you have all necessary rights and permissions to provide such Customer Data and to authorize Stedi and its service providers to use it as needed to provide the Platform Services. You authorize Stedi to (i) share Customer Data with the Sponsor Bank and other service providers to facilitate your access to your Account and to request and manage transactions; (ii) as needed to perform and improve the Platform Services; and (iii) as needed to comply with Applicable Laws and Network Rules. You grant Stedi a non-exclusive, worldwide, royalty-free license to use Customer Data as necessary to provide the Platform Services and as otherwise permitted under the Terms.
General Prohibitions and Stedi’s Enforcement Rights. The restrictions set forth in the Terms apply to your use of the Platform Services. Without limiting the foregoing, you agree not to use the Platform Services:
In violation of any agreement between you and the Sponsor Bank or any third party involved in processing transactions;
To initiate or facilitate transactions you know or reasonably should know are unauthorized, erroneous, or fraudulent;
To transmit or facilitate any transaction or data that violates Applicable Law, infringes third-party rights, contains malicious code, or is intended to disrupt the Platform Services or related systems; or
In any manner that interferes with the proper functioning of payment systems or the Platform Services.
Unauthorized Transfers. You are responsible for contacting us immediately if you believe your Customer ID, password, or any other Platform access credentials have been lost or compromised or have been used to initiate unauthorized transfers.
Ownership; Feedback. Stedi’s ownership rights over the Platform Services and Feedback are set forth in the Terms.
Third Parties and Partners.
We may utilize third-party providers to help facilitate the Platform Services. If the Platform contains links to other sites and resources provided by third parties, these links are provided for your convenience only. This includes links contained in advertisements, such as banner advertisements and sponsored links. We do not control the content of these sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them. We are also not responsible or liable for the performance of any third-party services. You acknowledge sole responsibility for and assume all risk arising from, your use of any third-party websites or resources. Further, Stedi will have no responsibility to remedy or resolve any disagreement between you and any such third-party whose website, services or products you may use.
Stedi may provide you with information about offers from various third-party service providers, such as financial institutions, lenders and other financial professionals (“Third Party Providers”). You understand and acknowledge that Stedi may be compensated by Third Party Providers for referrals made through our Services. Stedi does not guarantee the accuracy or completeness of any of the information provided regarding the Third Party Providers, and is not responsible for any loss resulting from your reliance on such information. Stedi is not liable for any losses, costs, damages or claims in connection with, arising from, or related to, your use of any Third Party Provider’s products or services. Without limiting the foregoing, the Platform Services rely on third-party financial institutions and payment systems to execute transactions, and Stedi is not responsible for any delays, errors, or failures caused by such third parties.
Rights and Terms for Platform. Your access to and use of the Platform is governed by the license and restrictions set forth in the Terms. The Platform is part of the Services and may be used by you to access and interact with the Platform Services.The Platform Services may be accessed through the Platform, through which you may view and interact with your Account. Stedi may require you to provide and verify certain contact information, including a mobile phone number, in order to access or use certain features of the Platform Services. Standard message and data rates may apply.
No Professional Advice. Unless expressly stated in writing in a separate agreement between Stedi and you, Stedi does not provide legal, financial, accounting or other professional services or advice. We are not responsible for determining your tax liability or the amounts that you need to withhold or save to cover such liability. You are solely responsible for your compliance with applicable tax laws.
Confidentiality. The Parties’ confidentiality obligations are set forth in the Terms.
Independent Parties. You are not an employee, contractor or agent of Stedi, but are an independent third party who is a current or prospective user of Stedi’s Services. Nothing in this Addendum is intended to render Stedi and you as joint venturers, partners, or employer and employee.
Modification and Termination. We may terminate your access to and use of any or all of the Platform Services, at our sole discretion, at any time and without notice to you. You may terminate your use of the Platform Services at any time by sending an email to Contact us - Stedi. If the Terms or this Addendum are terminated for any reason, your access to the Platform Services will terminate and your Account may be closed or restricted by Sponsor Bank. We may, from time to time, add or remove, suspend, stop, delete, discontinue or impose conditions on Platform Services or any feature or aspect of the Platform Services. Upon any termination, discontinuation or cancellation of the Platform Services or your Account, the following Sections will survive: 4(c), 6, 8, 9, 11, 15, 17, 18, 19, 20, 21, 22, and 23. In addition, you will remain liable for any transactions you initiated or fees, expenses, or other payment obligations you incurred prior to termination.
Warranty Disclaimers. The warranty disclaimers set forth in the Terms apply to the Platform Services.
Indemnification. Your indemnification obligations with respect to the Platform Services are governed by the Terms. Without limiting the foregoing, you will also indemnify, defend, and hold harmless Stedi and its service providers from and against any claims, losses, or expenses arising out of or relating to: (a) any transaction initiated through the Platform Services based on your instructions; or (b) your breach of any obligations specific to the Platform Services set forth in this Addendum.
Limitation of Liability.
NEITHER STEDI NOR ANY OTHER PARTY INVOLVED IN CREATING, PRODUCING, OR DELIVERING THE PLATFORM SERVICES WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST SAVINGS, LOST BUSINESS OPPORTUNITY, LOSS OF DATA OR GOODWILL, SERVICE INTERRUPTION, COMPUTER DAMAGE OR SYSTEM FAILURE OR THE COST OF SUBSTITUTE SERVICES OF ANY KIND ARISING OUT OF OR IN CONNECTION WITH THIS ADDENDUM OR FROM THE USE OF OR INABILITY TO USE THE PLATFORM SERVICES OR CONTENT, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT STEDI OR ANY OTHER PARTY HAS BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGE, EVEN IF A LIMITED REMEDY SET FORTH HEREIN IS FOUND TO HAVE FAILED ITS ESSENTIAL PURPOSE.
Your use of the Platform Services is also subject to our Privacy Notice, which describes how we collect, use, and disclose information. You agree that Stedi may use any data it receives from you (including via the Platform Services) or from the Sponsor Bank in accordance with the Privacy Notice.
Without limiting our rights in the Terms, Stedi may take any actions it deems necessary with respect to the Platform Services to address operational, security, or risk-related concerns. While we are not obligated to monitor, review, or edit access to or use of the Platform Services or any Content, we may do so to operate the Platform Services, ensure compliance with this Addendum, or comply with Applicable Law. We reserve the right to remove or disable access to any Content at any time, without notice, if we determine, in our sole discretion, that it is objectionable or violates this Addendum. We may also investigate violations of this Addendum or conduct affecting the Platform Services and may cooperate with law enforcement authorities in prosecuting unlawful activity.
IN NO EVENT WILL STEDI’S TOTAL LIABILITY ARISING OUT OF OR IN CONNECTION WITH THIS ADDENDUM OR FROM THE USE OF OR INABILITY TO USE THE PLATFORM SERVICES EXCEED, FOR ANY DIRECT DAMAGES IN EXCESS OF (IN THE AGGREGATE), THE FEES PAID BY YOU TO STEDI FOR THE PLATFORM SERVICES IN THE TWELVE (12) MONTHS PRIOR TO THE EVENT GIVING RISE TO A CLAIM. Without limiting the foregoing, Stedi shall not be liable for any failure or delay in processing any transaction to the extent caused by third-party financial institutions or systems.
Governing Law and Forum Choice. The Agreement shall be governed by and construed in accordance with the laws of the State of California, excluding its conflicts of law rules. You consent to exclusive jurisdiction and venue in the state and federal courts located in San Francisco, California.
Dispute Resolution. At Stedi’s sole discretion, we may require you to submit any disputes arising from the use of this Addendum, including disputes arising from or concerning their interpretation, violation, invalidity, non-performance, or termination, to final and binding arbitration under the Rules of Arbitration of the American Arbitration Association applying California law.
General Terms.
Consent to Receive Communication. By providing your phone number(s), you give us permission to contact you via voice call or via text message (SMS), by using an autodialing system and/or by using prerecorded voice. You do not need to agree to receive these calls or texts in order to receive our services or products. You may opt out of receiving autodialed or prerecorded calls or texts. We may monitor and record calls for training and quality assurance purposes. By agreeing to this Addendum, you also give us permission to contact you via the email address that you have provided. You may unsubscribe from marketing email communication by using the link in the email, or by contacting us directly.
Entire Agreement. The Terms, as supplemented by this Addendum, constitute the sole and entire agreement between you and Stedi with respect to the Platform Services and supersede all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, with respect to the Platform Services. If any provision of this Addendum is held invalid or unenforceable by an arbitrator or a court of competent jurisdiction, that provision will be enforced to the maximum extent permissible and the other provisions of this Addendum will remain in full force and effect. You may not assign or transfer this Addendum, by operation of law or otherwise, without Stedi’s prior written consent. Any attempt by you to assign or transfer this Addendum, without such consent, will be null. Stedi may freely assign or transfer this Addendum without restriction. Subject to the foregoing, this Addendum will bind and inure to the benefit of the parties, their successors and permitted assigns.
Notices. Any notices or other communications provided by Stedi under this Addendum, including those regarding modifications to this Addendum, will be given: (i) via email; or (ii) by posting to the Platform Services. For notices made by e-mail, the date of receipt will be deemed the date on which such notice is transmitted.
Waiver of Rights. Stedi’s failure to enforce any right or provision of this Addendum will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Stedi. Except as expressly set forth in this Addendum, the exercise by either party of any of its remedies under this Addendum will be without prejudice to its other remedies under this Addendum or otherwise.
Contact Information. If you have any questions about this Addendum or the Platform Services, please contact Stedi at Contact us - Stedi.