Payment Policy

Last updated: May 1, 2024

1. PREAMBLE

a. The following Payment Policy ("Policy") is subject to Wreno's Terms of Use, Terms of Service, and Privacy Policy. The Policy sets forth the terms for subscription-based services provided by Wreno, Inc. and its subsidiary entity named Wreno Home Services, LLC ("Wreno", "we", "us" or "our") to you ("User," "you," or "your"). By using our services, you agree to adhere to this Policy. b. We retain the right to update this Policy and your continued use of our Services indicated your agreement with any modifications. c. This Policy, including any annexes is made by and between Wreno and you, pursuant to the Terms of Service or other written or electronic agreement between the parties (as applicable) ("Agreement").

2. SUBSCRIPTION FEES AND REFUNDS FOR VENDOR USERS

a. We offer a subscription service to verify and onboard Vendors with Property Management companies. b. Subscription fees are to be paid upfront. c. An annual subscription renews automatically on an annual basis unless You provide Wreno with written notice to support@wreno.io of intent not to renew at least ninety (90) days prior to expiration of the then-current subscription term. d. Each annual subscription allows Vendor's verification for one Property Management company only. Verification with each additional company incurs an extra subscription fee. Wreno may offer monthly subscriptions in the future, which renew monthly unless canceled. e. Subscription cancellations can be made via our payment processing platform or by emailing support@wreno.io. f. Full refund of subscription fee is provided if new Vendor Users cancel within 30 days of payment. g. This refund policy applies to new subscriptions only. No refunds are given for existing or renewed subscriptions after 30 days from the start of the subscription. If there’s an issue wrong with your order or subscription, please contact us at support@wreno.io. In limited situations, solely within our discretion, we may offer refunds for certain losses or disputes. Otherwise, you assume there are no refunds, and all sales are final. h. Each new subscription will have a separate anniversary date. However, we aim to maintain a unified anniversary by modifying the quantity of the original subscription in the future.

3. SUBSCRIPTION FEES AND REFUNDS FOR PROPERTY MANAGERS

a. Compliance checks are provided free of charge to Property Managers. However, a subscription is required for locating new Vendors on our platform. b. Subscription cancellations can be made via our payment processing platform or by emailing support@wreno.io. c. A full refund is provided for new Property Managers that cancel their subscription within 30 days of the first payment. d. This refund policy is applicable only to new subscriptions. After the first 30 days, no refunds are provided for existing or renewed subscriptions.

4. TIERED CHARGES FOR PROPERTY MANAGERS

a. Property Managers will be subject to a tiered system of charges, which may be processed via ACH and/or credit card/payment card methods. b. These charges may include: i. One-time implementation fee for initial service setup. ii. Custom implementation/integration fee for personalized systems. iii. Recurring platform access fee. iv. Variable per-Vendor charge for compliance verification. v. Variable per-Vendor charge for additional compliance services.. vi. Recurring Vendor sourcing fee, which may be fixed or variable.

5. ADDITIONAL FEES

a. Property Managers may choose to pass on certain costs and fees to their Vendors, such as administrative fees, platform fees, compliance check fees, background check fees, insurance requirements, and licensing fees. b. Vendors are accountable for understanding and meeting their financial obligations. Non-compliance may result in suspension from Wreno, and/or termination of their contract with the Property Manager.

6. PAYMENT METHODS

a. Wreno currently accepts payments through Stripe, which allows credit card and ACH payments. b. We reserve the right to change our payment processing providers. Users agree to update their payment details accordingly.

7. PAYMENT TERMS

a. All Wreno subscription fees are payable in advance and are non-refundable except as specified by Wreno, subject to modification solely within Wreno’s discretion. This applies regardless of how long the service has been utilized. b. Promotional or discounted pricing may be offered at our discretion. However, our standard pricing will apply at renewal unless otherwise notified in writing.

8. LATE PAYMENTS

a. All fees are due on the dates specified in invoices, statements, or other notices sent by us. b. For any outstanding balances not paid within 30 days of the due date, a late fee of 1.5% per month calculated daily and compounded monthly or, if lower, the highest rate permitted under applicable law. This will be calculated based on the total overdue amount. c. We reserve the right to send payment reminders and overdue notices to Users via email or other methods. Failure to pay after such reminders may result in suspension of services. d. If any account is sent to collections for chronic late payment or non-payment, the User will be responsible for paying all collection costs incurred by Wreno. e. We aim to work constructively with Users facing financial hardship. In certain cases, payment plans or adjusted timelines may be arranged at Wreno's discretion by contacting our billing department. However, interest may still accrue on overdue balances. f. We reserve the right to disable User accounts and access to our platform if invoices remain unpaid after reasonable notice. Services will be restored once payment is received.

9. CANCELLATION POLICY

a. Users can cancel their subscriptions via our payment processing platform or by emailing support@wreno.io. b. Upon cancellation partway through the subscription term, no refunds will be provided for the remaining portion of the subscription, except as stated otherwise in this Policy. This signifies that in a situation where a User terminates their annual subscription service just three months into the subscription period, no refund will be provided for the remaining nine months of the subscription. c. Notwithstanding Section 9(b), we reserve the right, at our sole discretion, to make exceptions to this non-refund policy in unique or exceptional circumstances. d. Decisions made by us under this section shall be final and binding.

10. COMPLIANCE

a. In circumstances where Wreno has fulfilled its compliance verification obligations for the year, no refunds will be made available, even in cases where we initiate the termination of the contract. b. However, if the termination of the contract takes place before the completion of Wreno's annual compliance verification obligations, a full refund will be issued to the User.

11. MISCELLANEOUS

a. Any subject matter not addressed in this Policy shall be governed by the Agreement. b. In the event of a conflict between this Policy and the Agreement, the terms of the Agreement shall prevail. c. All Fees and other amounts payable by you under this Policy are exclusive of taxes and similar assessments. Without limiting the foregoing, You are responsible for all sales, use, and excise taxes, and any other similar taxes, duties, and charges of any kind imposed by any federal, state, or local governmental or regulatory authority on any amounts payable by You hereunder. d. All amounts payable to Wreno under this Policy shall be paid by You to Wreno in full without any setoff, recoupment, counterclaim, deduction, debit, or withholding for any reason (other than any deduction or withholding of tax as may be required by applicable law). e. This Policy is governed and construed in accordance with the laws of Arizona, United States, without regard to its conflict of law provisions.