Terms of Service and User Agreement

Lump provides a technological scheduling and disbursement service. By creating a Lump, you instruct us to receive a single upfront funding payment and, in turn, schedule and execute a series of automated outbound daily electronic funds transfers (EFTs) to a designated Interac e-Transfer email address.

1.1 Components of the Transaction

When you fund a Lump, your total upfront payment consists of two distinct and legally severable components:

• The Principal: The aggregate monetary value that will be disbursed back to your designated recipient sequentially over your chosen duration.
• The Structuring & Facilitation Fee (The "Lump Fee"): A one-time, upfront service charge. This fee is earned in full at the exact moment your Lump is successfully funded and the disbursement architecture is generated on our servers. This fee covers the immediate cost of identity verification, fraud screening, payment gateway processing, and algorithmic scheduling.

1.2 Definition of "Delivered Product"

For the purposes of payment processing, consumer protection, and dispute resolution, our contractual obligation for each daily installment is legally fulfilled, and the product is deemed "Delivered," at the precise moment Lump Financial Services LTD successfully initiates the outbound Interac e-Transfer API request to your designated email address.

Delivery is measured exclusively by our system's initiation timestamp.

We do not warrant or guarantee the timeline of your receiving financial institution, nor are we responsible if you fail to open the email, fail to answer a security question, or if the recipient bank places a hold on the funds.

To comply with the Retail Payment Activities Act (RPAA), the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), and FINTRAC regulations, Lump strictly enforces identity verification.

2.1 Verification Requirements

You must successfully complete our Know Your Customer (KYC) protocols, which include providing a valid, government-issued Canadian identification document and submitting to a live biometric facial scan (liveness check). We reserve the right to mandate secondary verification via your financial institution (e.g., Verify with Interac).

2.2 Name Matching and Authorization

The verified legal name on your Lump account must perfectly match the legal name registered to the payment method (credit card, debit card, Klarna, Afterpay, or bank account) used to fund your Lump. By initiating a funding transaction, you represent and warrant that you are the lawful, authorized owner of the payment instrument. Transactions exhibiting name mismatches will be voided, frozen, or refunded at our sole discretion.

Lump employs a dynamic risk-management framework to ensure platform integrity. We do not guarantee the availability of all funding methods (e.g., Credit Cards, BNPL) to all users at all times.

3.1 Tiered Gating

New accounts and first-time users may be restricted to funding their initial Lumps exclusively via inbound Interac e-Transfer. Access to premium funding rails is granted progressively based on account age, successful verification, and positive transaction history. We reserve the right to impose, modify, or revoke daily funding limits and duration caps at our sole discretion.

We guarantee that all scheduled daily disbursements will be initiated by our systems prior to 8:00 AM Eastern Time (ET) on the scheduled dates.

4.1 Exclusions of Liability

Lump utilizes the Interac® network and third-party banking infrastructure to route your funds. To the maximum extent permitted by applicable law, Lump Financial Services LTD shall not be held liable for delayed access to funds resulting from:

• Standard fraud-prevention or clearing holds executed by your receiving bank.
• Network-wide outages, API latency, or scheduled maintenance by Interac or participating financial institutions.
• Typographical errors made by you when entering the destination email address.

You retain absolute control over your undisbursed Principal and may cancel an active Lump at any time via your Account Dashboard by clicking the "Cancel Lump" button, pursuant to Quebec Bill 10 and applicable consumer protection statutes.

5.1 Cancellation Execution

• Cancellations initiated between 9:00 AM ET and 11:59 PM ET take effect at midnight ET of that calendar day. You may revert a cancellation request prior to midnight ET.
• Once a cancellation is finalized at midnight ET, the remaining scheduled disbursements are permanently voided.

5.2 Refund Processing and the Lump Fee

Pursuant to Article 2125 and Article 2129 of the Civil Code of Quebec, you may resiliate this service contract at any time. Upon cancellation:

• The Principal: 100% of the remaining, undisbursed Principal will be immediately refunded to you.
• The Lump Fee: Because the Lump Fee corresponds to the completed, one-time service of processing your initial payment and architecting the digital disbursement schedule (which is fully executed on day one), it represents the value of work already performed and actual costs incurred prior to the notice of resiliation. Therefore, the Lump Fee is non-refundable.

5.3 Destination of Refunds

To comply with federal Anti-Money Laundering (AML) directives, all refunds of undisbursed Principal will be credited exclusively back to the original payment instrument used to fund the Lump. Refund processing times are dictated by the payment network (e.g., up to 3 business days for Interac; 3–10 business days for Cards; up to 14 business days for Klarna/Afterpay).

Lump maintains a zero-tolerance policy for fraudulent disputes and first-party misuse.

6.1 Prohibited Chargebacks

By agreeing to these Terms, you expressly agree not to initiate a network chargeback, payment dispute, or reversal claim through your bank, credit card issuer, or BNPL provider for:

• Funds that correspond to daily deposits already initiated to your designated email address (Delivered Product).
• The one-time Structuring & Facilitation Fee (Lump Fee) after the Lump schedule has been successfully generated.
• Delays in fund availability caused by your receiving bank or the Interac network.

6.2 Merchant Defense and Liability

In the event of a chargeback, Lump will actively contest the dispute by providing the issuing bank or processor with your KYC biometric data, IP logs, authentication records (including 3D Secure cryptographic data), and API timestamps of all successfully initiated Interac transfers. Filing a chargeback while retaining the disbursed Principal constitutes unjust enrichment and a material breach of this Agreement. We reserve the right to suspend accounts, report fraudulent activity to financial authorities, and pursue the recovery of lost funds and administrative costs through appropriate legal channels.

Pursuant to the Retail Payment Activities Act (RPAA), Lump Financial Services LTD safeguards the Principal portion of your funds. End-user funds are strictly segregated from Lump's operational capital. Please note: Lump Financial Services LTD is a Payment Service Provider, not a bank. Funds held by Lump are not insured by the Canada Deposit Insurance Corporation (CDIC) against the insolvency of Lump Financial Services LTD.

The Lump platform is designed to provide financial stability, budget management, and secure gifting. You agree not to use the service to:

• Facilitate money laundering, terrorist financing, or any criminal enterprise.
• Fund a Lump using unauthorized, stolen, or third-party financial instruments.
• Obfuscate your identity, location, or intended use of the funds.

To the fullest extent permitted by the laws of the Province of Quebec and the federal laws of Canada, Lump Financial Services LTD, its directors, officers, and affiliates shall not be liable for any indirect, incidental, consequential, special, or punitive damages arising out of your use of the platform. Our maximum aggregate liability for any claim arising from a specific Lump shall be strictly limited to the Lump Fee paid for that transaction, except regarding our absolute obligation to refund your undisbursed Principal as outlined in Section 5.

These Terms, and all interactions with Lump Financial Services LTD, shall be governed by and construed in accordance with the laws of the Province of Quebec and the federal laws of Canada applicable therein. Any legal action or proceeding arising under these Terms shall be brought exclusively in the courts located in the judicial district of Montreal, Quebec.

We may update these Terms periodically to reflect changes in regulatory requirements or operational upgrades. Material changes will be communicated to you via email or platform notification prior to their effective date. Continued use of the platform following the posting of amended Terms constitutes your acceptance of the changes.

Lump Financial Services LTD

Headquarters: 658 - 2000 McGill College Ave, H3A 3H3, Montreal, Quebec, Canada

Email: support@lump.money

Phone: 1-855-221-2212