Term

Three (3) years after the Effective Date (the “Initial Term”), unless terminated earlier in accordance with the Agreement. Following the Initial Term, this Order Form No. 1 will automatically renew for additional and successive one-year periods (each, a “Renewal Term”), unless either Party provides the other Party a notice of non-renewal at least 90 days prior to the end of the Initial Term or then-current Renewal Term, as applicable (the Initial Term and any Renewal Terms, collectively, the “Term”); provided that if “Term” is otherwise defined in a valid agreement between the Parties, such provision will apply.

Integration and Channels

The Integration(s) and Channel(s) approved by Affirm in writing during the Term. 

Affirm Product Placement

Commencing on the date that Merchant makes the Services available for all eligible Merchant Products in the Channels (the “Launch Date”) and continuing throughout the Term as applicable to eCommerce, Merchant will display the Services in any place or instance in which Merchant references available payment methods, and on the home page, product page, cart page, and checkout page on each Merchant Site. Commencing on the Launch Date and continuing throughout the Term, as applicable to In-Store, Merchant will place Affirm messaging at the product level on or near pricing information and at or near the register, in each case, in a manner that makes it likely that customers will see such Affirm messaging and associate it with the applicable Merchant Products.

Merchant Fees to Affirm

With respect to each Successful Transaction during the Term, Merchant will pay to Affirm U.S a fee equal to (i) the applicable percentage (as set forth in Schedule 1) of the gross dollar amount of such Successful Transaction (including any Upfront Payments) (each, an “MDR”), plus, as applicable, (ii) a transaction fee (in the amount set forth in Schedule 1) for such Successful Transaction (the “Transaction Fee” and MDR, both “Fees”). With respect to the Fees in Schedule 1, Fee refundability will be as documented in a valid agreement between the Parties.

The Fee Schedule is referenced herein as Schedule 1 and is incorporated by reference and governed by the terms and conditions of the Agreement.

Schedule 1
Fee Schedule

As agreed to by Merchant or such other valid agreement between the Parties.