Integrated Payment System Policy

1. Use of IPS

Customer is not required to use Handbid's Integrated Payment System ("IPS") to process payments from bidders. Customer may process payments outside of the Handbid Platform using any of its preferred payment methods. However, Customer must use the IPS if Customer wishes to process payments from bidders through the Handbid Platform.

2. Payment Processor

(a) Handbid currently uses, and reserves the right to continue using, third-party payment providers (each, a "Payment Processor") in connection with the IPS. As a condition to using the IPS, (a) Customer must establish and maintain its own account with the Payment Processor ("Processor Account"); (b) Customer must ensure that its Processor Account remains in good standing and is capable of accepting payments and processing payouts; (c) Customer must connect its Processor Account to its account with the Handbid Platform; (d) Customer agrees to be bound by and comply with the Payment Processor's terms of service (each a "Processor Agreement"); (e) Customer must provide accurate and complete payment information; (f) Customer authorizes Handbid to share such information with the Payment Processor; and (g) Customer authorizes Handbid and the Payment Processor to share any information and payment instructions provided by Customer to the extent required to complete the payment services.

(b) The Processor Agreement is solely between Customer and the Payment Processor. Handbid is not a party to the Processor Agreement, does not control the Payment Processor's performance of its obligations, and assumes no liability for the acts or omissions of Customer or the Payment Processor in connection with the Processor Agreement. Customer is solely responsible for checking for updates to the Processor Agreement.

(c) Currently, Handbid uses Stripe, Inc. as its Payment Processor for payment services. Handbid may change or add other Payment Processors at any time with or without notice to Customer, and Customer's use of payment services via such Payment Processors may be subject to additional terms or conditions.

(d) If Customer deauthorizes or disconnects the Processor Account from the Handbid Platform, Customer must notify Handbid in advance. Failure to do so may result in disruptions to payment processing.

3. End User Consent

Customer is solely responsible for obtaining any consent required to share its end users' data with Handbid and the Payment Processor.

4. Payment Methods

The IPS supports any card supported by the Payment Processor (collectively "the Card Networks"). Customer is solely responsible for verifying the identity of its end users and of the eligibility of a presented payment card used to purchase Auction Items. The Payment Processor may add or remove one or more types of cards as supported payment methods any time without prior notice to Customer.

5. Security

All payment information is sent directly to and stored with the applicable Payment Processor using their security protocols. Handbid does not store any payment information on its systems and shall not have any responsibility for the safety or security of that information. If the Processor Agreement or Customer's use of the applicable Payment Processor's services is terminated by the Payment Processor, Customer may not be able to use certain portions of the Handbid Service.

6. Transaction Fees and Conversion Fees

All payments processed through the IPS shall be subject to the Payment Processor's designated transaction fees ("Transaction Fees"). The Transaction Fees shall be set forth in Customer's Order Form or Subscription Summary, as applicable. Transaction Fees are non-refundable, even if the underlying transaction is canceled or refunded. To the extent Customer collects payments in any currency other than United States Dollars, the Payment Processor will convert such payment to USD, and Customer will be subject to a currency conversion fee ("Conversion Fee"). The Transaction Fees and Conversion Fees will be deducted from the proceeds from each Auction prior to Distribution (as defined below).

7. Processing Funds into Handbid's Account

Customer must maintain an active Processor Account for payments.

(a) If Customer cannot establish or maintain this account, Customer can request, and Handbid may, at its discretion, process payments on Customer's behalf under the following terms:

(b) Fund Holding & Settlement Process. If Handbid processes transactions, collected funds will remain in Handbid's account until the Customer's event concludes and all payments are finalized. Once the event is complete and no further payments are expected, Customer must request settlement closure by emailing service@handbid.com. Handbid will then initiate the closing process and issue a Settlement Report ("Settlement Report"). Customer must review, sign, and return the report before Handbid initiates a payout ("Distribution").

(c) Settlement Report Authorization. A Customer-authorized representative must sign the Settlement Report. For distributions exceeding $10,000, Handbid may require a live video call for verification. Customer must specify in the report whether the payout should be issued by check or electronic transfer.

(d) Payout Timing. The time required to process a Settlement Report and release funds varies. Handbid generally processes payouts within three weeks, depending on factors such as Customer response time, payment account setup with Handbid's bill pay system, banking delays, and other external factors. Handbid does not guarantee a specific payout timeline.

(e) Single Payout Policy. Customer may request only one payout per event, which must be deposited into an organization-owned account. Personal accounts are not permitted.

8. Administrative Fee & Considerations

Having Handbid process funds on behalf of Customer may result in delays and additional costs. This option should be used only as a last resort. Handbid charges a $100 administrative fee for handling distributions due to the added processing effort and associated risks. This fee is non-refundable.

(a) Uncollected Funds. If Customer does not request and sign a Settlement Report within one (1) year after the conclusion of the Event (defined as the date of the most recent successful credit card transaction for that event), Customer irrevocably forfeits any claim to the collected funds. Upon forfeiture, Handbid may retain and use the funds for any purpose allowed by applicable laws and regulations, including, but not limited to, covering administrative costs, operational expenses, or other business purposes.

9. Chargebacks and Disputes

Customer is solely responsible for delivery of Auction Items, bidder satisfaction, and any refunds, returns, or liabilities arising from disputes with its end users that are reasonably outside of the control of Handbid (each, an "Issue").

10. IPS Indemnity

In addition to the indemnification obligations in the Agreement, Customer agrees to defend, indemnify, and hold Handbid harmless from any liabilities, losses, expenses, or claims related to: (a) Customer's breach or nonperformance of any terms in the Processor Agreement; (b) Customer's activities on its Processor Account; and (c) chargebacks, reversals, disputes, fines, assessments, or any other merchant losses.

11. Payment Card Industry Data Security Standards (PCI DSS)

Handbid complies with and will continue to comply with applicable PCI DSS standards and will maintain industry-accepted security measures. Handbid agrees that:

(a) It will not store, transmit, or process full primary account numbers (PANs).

(b) It has a business continuity program in compliance with PCI DSS.

(c) It will cooperate with payment card industry representatives regarding security reviews.

(d) Customer is solely responsible for ensuring its own PCI DSS compliance in connection with payment processing. At Customer's written request, Handbid will provide its current Attestation of Compliance and available third-party security audit summaries. Handbid, at its sole discretion, may be willing to complete customer-generated security plans (e.g., IT Vendor Security Plans).

12. Changes to this Policy

Handbid reserves the right to update or modify this IPS Policy at any time. Continued use of Handbid's IPS constitutes acceptance of any changes to the IPS Policy.