Receivable Advance Service — Terms and Conditions

1. Introduction and Scope

These Terms and Conditions ("Terms") govern the Advance Service ("Service") made available by Higlobe [Higlobe Inc.] ("Higlobe", "we", "us", or "our") to eligible users ("User", "you", or "your"), businesses located in a jurisdiction served by Higlobe stablecoin wallet ("Wallet").

These Terms are supplemental to, and must be read together with, the Higlobe Terms and Conditions and Privacy Policy, which remain in full force. In the event of any conflict between these Terms and Higlobe Terms and Conditions, specifically in relation to the Advance Service, these Terms shall prevail.

2. Definitions

For the purposes of these Terms, the following definitions apply:

• "Average Monthly Deposits" (AMD): the arithmetic mean of the total value of deposits credited to your Wallet during each of the preceding three (3) full calendar months immediately before the date of calculation, expressed in US Dollars (USD).
• "Advance Limit": the maximum negative balance permitted in your Wallet,
• "Triggering Transaction": any off-ramp transaction, including a transfer to a local bank account in the jurisdiction of the User or a debit card transaction via your Higlobe Visa debit card, that causes your Wallet balance to fall below zero (USD 0.00).
• "Negative Balance": a Wallet balance of less than zero (USD 0.00) resulting from a Triggering Transaction.
• "Replenishment Date": the date falling thirty (30) calendar days after the date on which a Negative Balance was first created.
• "Delinquent Account": a Wallet that has maintained a Negative Balance beyond the Replenishment Date.
• "Business Day": any day other than Saturday, Sunday, or a public holiday in the United States of America.

3. Eligibility

To be eligible for the Advance Service, you must, at the time of activation and continuously during use:

• Be a User who has accepted the Higlobe Wallet Terms of Service;
• Have held an active Higlobe Wallet in good standing for a minimum of three (3) consecutive calendar months prior to the date of your application or automatic qualification;
• Have received regular deposits into your Wallet during each of those three (3) preceding months, such that a meaningful AMD can be calculated;
• Not have an existing Delinquent Account or unresolved Negative Balance at the time of activation;
• Comply with all applicable know-your-customer (KYC) and anti-money-laundering (AML), among other compliance requirements that Higlobe may determine from time to time.

If you are an active user of The Global Hire’s board: your engagement with this service may result in a higher advance limit. We may use the email address you provided to us to assess your activity with the Global Hire board.

Higlobe reserves the right to assess eligibility at its sole discretion and to decline or revoke eligibility at any time without prior notice, subject to applicable law.

4. How the Advance Service Works

4.1 Activation

Once you are deemed eligible under Section 3, the Advance Service option will automatically be shown on your Higlobe app. You will need to opt-in and agree to these Terms through the App to enable the service. If you do not opt-in, transactions which exceed your Higlobe wallet balance will be declined.

4.2 Advance Limit

Your Advance Limit is set at Higlobe’s discretion and has been disclosed to you prior to enabling this service. Higlobe will recalculate your Advance Limit periodically (no less than once per calendar month) and will notify you of material changes through the App. You may not initiate any off-ramp transaction that would cause your Wallet balance to exceed the applicable Advance Limit.

4.3 Permitted Use

The Advance Service may only be used in connection with the following off-ramp transactions:

• Transfer of funds to a local bank account in the User's name, in the applicable currency (BRL-denominated);
• Debit transactions processed through your Higlobe Visa debit card.

Use of the Advance Service for any other purpose, including peer-to-peer transfers or wallet top-ups, is not permitted.

4.4 No Periodic Interest

Higlobe does not charge periodic interest on any Negative Balance. Your obligation is limited to the fees described in Section 5 and the settlement of the Negative Balance by the Replenishment Date.

5. Fees and Charges

The following fees apply to the Advance Service. All amounts are expressed in US Dollars (USD):

Advance Usage Fee: USD 10.00 per triggering transaction. This fee applies to every transaction which results in a negative Higloble wallet balance, regardless of whether the balance was already negative prior to the transaction.

Delinquency Fee: USD 30.00 (if balance not replenished within 30 days)

Periodic Interest: None

5.1 Advance Usage Fee

A fee of USD 10.00 (five US Dollars) will be automatically debited from your Wallet each time a Triggering Transaction results in a Negative Balance. The fee is charged per Triggering Transaction, not per calendar day or per period.

If your Wallet already carries a Negative Balance and a subsequent off-ramp transaction further deepens that balance, a new Advance Usage Fee of USD 10.00 will apply to each such additional Triggering Transaction, subject always to your Advance Limit.

5.2 Delinquency Fee

If a Negative Balance is not fully replenished by the Replenishment Date (i.e., thirty (30) calendar days from the date the Negative Balance first arose), an additional fee of USD 30.00 (thirty US Dollars) will be automatically applied to your account.

The Delinquency Fee is a one-time charge. However, if the account remains unreplenished after the Delinquency Fee has been applied, Higlobe reserves the right to take further action as described in Section 8.

5.3 Fee Changes

Higlobe reserves the right to modify the fee schedule at any time. Where required by applicable law, Higlobe will provide at least thirty (30) calendar days' prior written notice before any increase in fees takes effect. Continued use of the Advance Service after the notice period constitutes your acceptance of the revised fees.

6. Replenishment of Negative Balance

You are required to bring your Wallet balance to zero (USD 0.00) or above within thirty (30) calendar days from the date on which the Negative Balance first arose (“Replenishment Deadline”).

Replenishment may be effected by:

• Depositing funds into your Wallet from an external source;
• Receiving a transfer from another Higlobe Wallet user;
• Any other funding method supported by Higlobe from time to time.

Replenishment must cover the full Negative Balance plus any applicable fees. Partial replenishments will reduce the outstanding balance but will not stop the accrual of the Delinquency Fee if the balance remains negative after the Replenishment Deadline.

Higlobe reserves the right to apply incoming funds automatically to any outstanding Negative Balance and fees before making residual funds available for other use.

7. Suspension and Restriction

Higlobe may, at its sole discretion and without prior notice:

• Suspend or reduce your Advance Limit if your deposit activity declines materially or your AMD falls below a threshold that supports the current limit;
• Suspend the Advance Service while a Negative Balance remains outstanding;
• Restrict outgoing transactions from your Wallet while a Delinquent Account status is active;
• Terminate the Advance Service with respect to your account in accordance with Section 9.

8. Consequences of Non-Replenishment

If a Negative Balance is not replenished within thirty (30) calendar days of the Replenishment Deadline (i.e., sixty (60) calendar days from first arising), Higlobe may, to the extent permitted by applicable law:

• Restrict or suspend all Wallet functionality, including off-ramp transactions;
• Refer the outstanding balance and fees to a debt collection process;
• Report the delinquency to credit reference bureaus or relevant financial authorities, where applicable under the relevant jurisdiction; these maye include:

A- Credit bureaus such as Serasa/SPC;

B- The Chex System in the US for users who were issued US checking account details to get paid by US companies.

• Take such other lawful steps as Higlobe deems appropriate to recover the outstanding amount.

Higlobe will endeavour to contact you through the App and registered email address prior to initiating collection proceedings.

9. Termination

9.1 Termination by You

You may cancel the Advance Service at any time through the App, provided that no Negative Balance is outstanding at the time of cancellation. If a Negative Balance exists, you must replenish your Wallet to zero (USD 0.00) or above before the Service can be deactivated.

9.2 Termination by Higlobe

Higlobe may terminate the Advance Service upon thirty (30) calendar days' written notice. In the event of material breach of these Terms (including, but not limited to, failure to replenish a Negative Balance by the Replenishment Deadline or Delinquency Deadline), Higlobe may terminate the Service with immediate effect.

9.3 Effect of Termination

Upon termination, all outstanding Negative Balances and fees become immediately due and payable. Termination of the Advance Service does not affect your rights and obligations under the Higlobe Wallet Terms of Service.

10. Currency, FX, and Exchange Rate Risk

Your Wallet is denominated in US Dollars (USD) via stablecoin. Off-ramp transactions to local bank accounts involve a conversion to other currencies at the exchange rate applied by Higlobe or its payment partners at the time of the transaction. Higlobe does not guarantee any particular exchange rate.

Fluctuations in exchange rates may affect the effective cost of using the Advance Service. Higlobe is not liable for any losses arising from currency conversion or exchange rate movements.

11. Governing Law and Dispute Resolution

Please refer to Higlobe Terms and Conditions.

12. Amendments

Higlobe reserves the right to amend these Terms at any time. Where required by applicable law, Higlobe will provide at least thirty (30) calendar days' prior notice of material changes through the App or by email to your registered address.

Amendments that are required for compliance with applicable law or regulatory guidance may take effect immediately upon notice. Your continued use of the Advance Service after the effective date of any amendment constitutes your acceptance of the revised Terms.

If you do not accept any proposed amendment, you may cancel the Advance Service in accordance with Section 9.1 before the amendment takes effect, provided no Negative Balance is outstanding.

13. Entire Agreement

These Terms, together with the Higlobe Terms and Conditions and Privacy Policy, constitute the entire agreement between you and Higlobe in relation to the Advance Service and supersede all prior representations, understandings, or agreements relating to the same subject matter.

14. Contact Information

For questions, complaints, or requests relating to the Advance Service, please contact Higlobe at [email protected]