Cash App Afterpay on Cash App Card Loan Agreement

Effective Date: January 21, 2026

Afterpay on Cash App Card is a Cash App product offered and managed through your Cash App account. Your pay over time loan cannot be accessed or serviced through an Afterpay account. For any help, contact Cash App Support.

This Afterpay on Cash App Card Loan Agreement (“Agreement”) is between you and First Electronic Bank, a Utah-chartered industrial bank (“Bank”), as the originator and issuer of your loan. Please read this Agreement and keep a copy.

Please note that you should review this Agreement carefully, including those provisions which limit Bank’s liability and those regarding individual arbitration for potential legal disputes (see Section 24).

You acknowledge that you have read, agree with, and accept all terms and conditions contained in this Agreement. In consideration of the promises and the respective representations, warranties, covenants, agreements and conditions contained below and on the following pages, you and Bank enter into this Agreement and agree with, and accept, the terms and conditions set forth herein.

1. Definitions

“Amount Financed” is the amount of credit provided to you or on your behalf, equal to the amount of the eligible transaction made using your Cash App Visa® Debit Flex Card issued by Sutton Bank (“Card”) after you toggle on the Afterpay feature in Cash App (the “Financed Transaction”), as reflected in your Truth in Lending Act Disclosure.
“Cash App Balance” means the funds you have in your Cash App account that are available for new transactions and are not subject to pending transactions.
“Final Due Date” is the date by which you must pay the Total of Payments, as shown in your Truth in Lending Disclosure.
“Finance Charge” is the dollar amount the credit will cost you, calculated as a percentage of the Amount Financed, as reflected in your Truth in Lending Act Disclosure, and is paid by you when the loan is disbursed.
“Loan Proceeds” means the total amount of funds extended to You by the Bank and includes the Amount Financed plus the Finance Charge. See Section 2 (Disbursement of Funds) below.
“Outstanding Balance” means the Total of Payments less the amount(s) of any payments that have been made over the term of the loan.
“Overdue Interest” means the weekly charge that may be applied to your unpaid Amount Financed in the event You fail to pay the Outstanding Balance by or on the Final Due Date, as reflected in your Truth in Lending Act Disclosure.
“Pay Over Time Summary” means the summary of your order and payment due dates.
“Payoff Amount” means the Outstanding Balance plus any unpaid Overdue Interest.
“SQC” means Square Capital, LLC, a wholly owned subsidiary of Block, Inc., d/b/a Square Capital of California, LLC in Florida, Georgia, Montana, and New York.
“The Company” means Block, Inc., a Delaware company with offices at 1955 Broadway, Suite 815, Oakland, California, 94612 and includes its agents, authorized representatives, successors, and assignees.
“Total of Payments” is the amount you will have paid after you have made all payments as scheduled, equal to the Loan Proceeds.
“Truth in Lending Act Disclosure” means the disclosure provided to you prior to your executing this Agreement, pursuant to the federal Truth in Lending Act and Regulation Z, which includes certain details related to this loan.
“You” means the person identified as “Borrower” in your Truth in Lending Act Disclosure.

2. Disbursement of Funds

By executing this Agreement, You agree that by toggling a Cash App Card purchase within the Cash App to be funded as an Afterpay on Cash App Card purchase, the Bank will disburse the Amount Financed to the merchant at which you made the Cash App Card purchase in the amount you choose to finance. You acknowledge and agree that you are using this loan and the loan proceeds solely for personal, family, or household purposes.

3. Promise to Pay

You agree to pay Bank (a) the Total of Payments by or on the Final Due Date, and (b) if applicable, the Payoff Amount, promptly after the Final Due Date.

You authorize Bank to initiate payments on the Final Due Date from your Cash App Balance and, if necessary, the third party debit card linked to your Cash App account (“Linked Debit Card”) as a funding source not your Cash App Visa® Debit Flex Card or “Card”), in an amount not to exceed the Outstanding Balance. Bank will first attempt to initiate a payment from your Cash App Balance. If your Cash App Balance has insufficient available funds, then we will initiate a second transaction for the remainder of the Outstanding Balance from any Linked Debit Card. If such repayment attempt does not fully satisfy the Outstanding Balance, then starting four days after the Final Due Date, Bank will attempt to initiate payments from your Cash App Balance upon receipt of funds therein, until the full satisfaction of the Payoff Amount. This authorization will remain in effect until your Payoff Amount is paid in full.

4. Overdue Interest

If you fail to pay the Total of Payments by the Final Due Date and the Outstanding Balance remains unpaid, you will be assessed and charged Overdue Interest on any unpaid Amount Financed on the seventh calendar day after the Final Due Date or any additional grace period required by applicable law. For example, if the Final Due Date is January 1st, you will be charged and assessed Overdue Interest on any unpaid Amount Financed on January 8th if the loan remains unpaid. You will continue to be charged non-compounding Overdue Interest every seven days until the Payoff Amount has been paid in full or the loan is written off.

5. Automatic Payment Authorization; Optional Automatic Payment; Manual Electronic Payments; Making Your Payments

a. Automatic Payment of Payoff Amount. For purposes of the payment authorization provided in Section 3 above, you authorize Block, Inc. (which shall be a third party beneficiary of this provision), in its capacity as the holder of your Cash App Balance, to monitor activity on your Cash App Balance and to notify Bank or any holder of your loan, or to initiate a payment in the amount of the Payoff Amount, or in the amount of available funds in your Cash App Balance, whichever is less, on our behalf pursuant to standing instructions from Bank, any time funds are available in your Cash App Balance. You additionally agree, pursuant to the Security Interest Agreement agreed to concurrently with this Agreement, to give us a security interest in your Cash App Balance to allow for us to initiate payment for this loan from that account.

b. Automatic Payment Authorization. In taking this loan, you agree to the Autopay Terms (the “Autopay Terms”), which contain additional disclosures. You can opt out of automatic payments at any time by contacting Cash App Support, which may be accessed by clicking on your profile in Cash App, clicking “Support” and following the in-app prompts. You can also manage Autopay and Payments by clicking on “Manage Payments” in Cash App and following the in-app prompts. Opting out will, by no later than three business days after the date of such opt-out, disable all subsequent automatic payments, including those to be made during the loan term, on the Final Due Date and (if applicable) after the Final Due Date. You will still be responsible for repaying this loan and all associated fees.

c. Optional Automatic Payment. You may in automatic payments for any voluntary prepayments to be made during the loan term, at your discretion. Additional disclosures regarding such automatic payments for such optional prepayments are contained in the Autopay Terms.

d. Manual Electronic Payments. You also may choose to manually make electronic payments. If you choose to unenroll from the automatic payments authorized herein and in the Autopay Terms, you will be required to manually authorize payments from your Cash App Balance or a linked debit card(s).

e. Payment by Mail. You may also pay by sending checks payable to “First Electronic Bank ℅ Square Capital, LLC” to the following address:

First Electronic Bank ℅ Square Capital, LLC \ Attn: Cash App Lending Program Operations \ Lockbox Services 208731 \ Dallas, TX 75320-8731

Your check must specify your $Cashtag, your Loan ID, the Amount Financed, and the date you entered into this Agreement. Your payment must be made in U.S. dollars from a valid U.S. source in a form acceptable to Bank.

A check must be physically received at the above address by 4:00 PM CT on a business day in order to be credited to your loan on the same day.

f. Making Your Payments. You agree to take all necessary steps to ensure notifications are not being filtered out of the mode by which you have selected to receive notifications in your Cash App. Your payment will still be due on your regularly scheduled due date even if you do not receive a notification from Bank.

6. Payment Processing

a. You agree that Bank may accept and process payments without losing any rights.

b. You agree to make payments electronically or through check payments that you send to Bank. You agree that any other form of payment, including cash payments, will not be accepted. You agree that neither Bank nor any of Bank’s service providers are responsible if your financial institution rejects a payment you make. You will be responsible for any fees charged by your financial institution.

c. You agree and authorize Bank to resubmit and/or collect returned payments electronically if you have opted to pay electronically.

d. You agree and authorize Bank to make electronic reversals or credits to any debit card you have provided in the event of an erroneous debit or as otherwise appropriate.

e. You agree and authorize Bank to correct errors, to process returned and reversed payments, and to handle other issues pertaining to your loan.

f. You acknowledge that funds may be withdrawn from your Cash App Balance or a linked debit card(s) as early as the same day your payment is received.

7. How Your Payments Are Applied

During the loan term, repayments will be applied proportionally to your Outstanding Balance. After a loan goes overdue, repayments will be applied in the following order: 1) Overdue Interest and 2) Outstanding Balance.

8. Repayments

a. You may prepay your loan in full or in part at any time. There is no penalty for early prepayment of all or any part of your loan. If required by applicable law, if You repay the loan before the Due Date, the Bank will refund pro rata any portion of the Finance Charge that exceeds 5% of the Amount Financed, proportional to the number of days remaining until the Due Date. You agree that any other portion of the Finance Charge is nonrefundable in the event You repay the loan before the Due Date and is fully earned on the Execution Date.

b. You may elect to repay the Total of Payments on either of the following schedules: (i) “Six Equal Payments”, consisting of six payments due at regular intervals during the loan term and on the Final Due Date; or (ii) “Pay-in-One”, consisting of a single payment due on the Final Due Date.

c. If you choose the Six Equal Payments payment plan, you will have six weekly payments beginning one week from the date hereof, with the final payment being due on the Final Due Date. All of these payments will be due at regular intervals over the loan term. The five payments to be made before the Final Due Date are voluntary prepayments. You are not required to make the optional prepayments and will not be subject to any late fees or penalties for missing those payments. If you do not make the voluntary prepayments, the amount of the missed payment will be added to the subsequent payment. If you choose to skip all voluntary prepayments, the Total of Payments will be due on the Final Due Date. If you do not pay the Total of Payments by the Final Due Date, you will be considered in Default as described in Section 9 and you may be assessed overdue interest as detailed in Section 4.

9. Default

a. Unless expressly prohibited by law, you will be in default on your loan if:

You do not pay the Total of Payments by the Final Due Date;
You file or become the subject of a bankruptcy or insolvency proceeding;
You are unable to repay your obligations, including upon death or legally declared incapacity;
You provided inaccurate, untrue, or incomplete information, or you otherwise tried to defraud or provide material misrepresentations to Bank or its service providers;
Your Cash App account is restricted, suspended, or terminated;
You do not comply with any term of this Agreement; and/or
You permanently reside outside the United States.

b. If you are in default, Bank may take certain actions with respect to your loan without notifying you unless notification is required by law. For example, depending on the default, the following actions may be taken:

If you are enrolled in automatic payments, your Cash App Balance or Linked Debit Card may be debited the amount of the Outstanding Balance not paid by the Final Due Date;
Your ability to use any or all features on Cash App may be suspended until you satisfy your outstanding loan obligation;
You may be charged a late fee after any applicable grace period has passed; and/or
You may be unable to obtain further credit from Bank.

10. Disputes

a. Your Billing Rights: Keep This Document For Future Use

This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.

b. What To Do If You Think You Find A Mistake On Your Statement

If you think there is an error on your statement, you should contact us immediately:

Through your Account in the App by selecting Contact Support.
Call us at 1-800-969-1940.
Write to us at Cash Disputes, 1955 Broadway, Suite 600, MSC 211, Oakland, CA 94612.

In your letter, give us the following information:

Account information: Your name and account number.
Dollar amount: The dollar amount of the suspected error.
Description of Problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.

You must contact us:

Within 60 days after the error appeared on your statement
At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is wrong

You must notify us of any potential errors in writing or electronically. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.

c. What Will Happen After We Receive Your Letter

When we receive your letter, we must do two things:

Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error.
Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill is correct.

While we investigate whether or not there has been an error, the following are true:

We cannot try to collect the amount in question, or report you as delinquent on that amount.
The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
We can apply any unpaid amount against your credit limit.

After we finish our investigation, one of two things will happen:

If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees. We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe.

If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us.

If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.

d. Your Rights If You Are Dissatisfied With Your Credit Card Purchases

If you are dissatisfied with the goods or services that you have purchased with your credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the purchase.

To use this right, all of the following must be true:

The purchase must have been made in your home state or within 100 miles of your current mailing address, and the purchase price must have been more than $50. (Note: Neither of these is necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
You must have used your credit card for the purchase. Purchases made with cash advances from an ATM or with a check that accesses your credit card account do not qualify.
You must not yet have fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing or electronically:

Through your Account in the App by selecting Contact Support.
Call us at 1-800-969-1940.
Write to us at Cash Disputes, 1955 Broadway, Suite 600, MSC 211, Oakland, CA 94612.

While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not pay we may report you as delinquent.

11. Liability for Unauthorized Use

If you notice the loss or theft of your credit card or a possible unauthorized use of your card, you should contact us immediately:

Through your Account in the App by selecting Contact Support.
Call us at 1-800-969-1940.
Write to us at Cash Disputes, 1955 Broadway, Suite 600, MSC 211, Oakland, CA 94612.

You will not be liable for any unauthorized use that occurs after you notify us. You may, however, be liable for unauthorized use that occurs before your notice to us. In any case, your liability will not exceed $50.

12. Loan Documents

The following documents (“Loan Documents”) govern your loan:

This Agreement;
The E-Sign Consent provided to you when you applied for the loan;
The Pay Over Time Summary and Truth in Lending Act Disclosure, and any updates to either document;
The Autopay Terms;
The Security Interest Agreement;
The Cash App Acceptable Use Policy; and
Any privacy notices applicable to your Cash App account or provided to you when you applied for the loan.

Please read these carefully and keep them for future reference.

13. Entire Agreement

The Loan Documents constitute the entire agreement between you and Bank with respect to this loan. You acknowledge and agree that no oral representations shall vary, modify or amend the terms and conditions of the Loan Documents. Any failure by Bank to exercise, or delay by Bank in exercising, any right or remedy shall not operate as a waiver thereof. Bank may make changes to the Loan Documents at any time in accordance with and to the extent permitted by applicable law.

14. Applicable Law

This Agreement and any dispute arising hereunder will be governed by Utah law and/or applicable federal law (including the Federal Arbitration Act) as applied to agreements entered into and to be performed entirely within Utah, without regard to its choice of law or conflicts of law principles that would require application of law of a different jurisdiction.

15. Service Providers and Third Party Beneficiaries.

a. Bank may retain service providers to perform on its behalf any actions authorized or contemplated by this Agreement. Any authorization or permission that you grant to Bank in this Agreement (or otherwise in connection with your loan) shall extend to and cover any service provider acting on Bank’s behalf or at Bank’s direction. Without limiting the generality of the foregoing, you expressly authorize Block, Inc. and/or its affiliates (including SQC), when acting as Bank’s service provider, to take any actions authorized or contemplated by this Agreement regardless of whether such actions are authorized or contemplated by the Cash App Terms of Service.

Other provisions in this Agreement that expressly extend rights or protections under this Agreement to Bank’s service providers (either generally or to specific service providers) are included for the avoidance of doubt, and should not be interpreted to limit the operation or effect of the general provisions in this Section.

b. The parties agree that SQC, along with SQC’s parent company, subsidiaries, affiliates, agents, employees, predecessors, successors, or assigns and any authorized users or beneficiaries of the Cash App pay over time loan program, are intended to be, and shall have the rights of, a third party beneficiary of this Section 15.

16. Personal Financial Information

You agree to provide personal financial information about you that may be requested from time to time for underwriting, security, and/or other purposes related to the management of your account. This includes, but is not limited to:

Your full legal name;
A valid U.S. mailing address and residential address (if different);
Your date of birth;
Your Social Security Number or Individual Taxpayer Identification Number;
Your telephone number(s); and
Your employment and income information.

You agree to promptly update your personal information in your Cash App profile, including but not limited to your name, street address, email address or telephone number. In doing so, you agree that you will not provide false information or signatures, electronic or otherwise, at any time. You may be asked for additional documents to verify any changes. You understand that if you move to a state where this product is not offered, you will be unable to borrow subsequent loans.

17. Important Information About Procedures for Opening a New Account

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: when you open an account, Bank will ask for your name, address, date of birth, and other information that will allow Bank to identify you. Bank may also ask to see your driver’s license or other identifying documents.

18. Age and Residency

By entering into this Agreement, you agree that you are at least 18 years of age and of sufficient legal age to enter into a contract in the state where you reside and you are a resident of the United States when you execute this Agreement.

19. Communications and Contact Information

a. You consent to accept and receive communications from Bank including e-mail, text messages, calls, and push notifications to the cellular telephone number you provide when you inquire about a loan or update your contact information. Such communications may include, but are not limited to, communications regarding applications for credit, credit decisions, disclosures, servicing, collections, requests for secondary authentication, receipts, reminders, and notifications regarding updates to your account or account support. Call and text message communications may be generated by automatic telephone dialing systems. Standard message and data rates applied by your cell phone carrier may apply to the text messages sent to you.

b. You may opt out of receiving promotional email communications from Bank by following the unsubscribe options contained in such emails. You may opt out of any promotional phone calls from Bank by informing the caller that you would not like to receive future promotional calls. You may also opt out of text messages from Bank at any time by texting END to the number from which you received a text. You acknowledge that opting out of receiving communications may impact your use of Bank’s and/or Block, Inc.’s and/or SQC’s services.

20. Submission of Ideas

You may submit comments or ideas about the loans and/or services you receive (“Ideas”). By submitting any Idea, you agree that your disclosure is gratuitous, unsolicited, and without restriction, that it will not place Bank under any fiduciary, confidentiality or other obligation, and that Bank and/or SQC is free to use the Idea without any additional compensation to you, and/or to disclose the Idea on a non-confidential basis or otherwise to anyone. You hereby grant Bank a perpetual, irrevocable, worldwide, fully paid up, non-exclusive, sub-licensable, right and license to use the user content and all elements thereof, in any and all media formats and forms, known now or hereafter devised for any purpose that Bank chooses.

21. Severability

Except as otherwise provided herein and to the extent not prohibited by law, if any provision of this Agreement is held to be invalid or unenforceable, such determination shall not affect the validity or enforceability of the remaining provisions of this Agreement.

22. Assignment and Delegation

This Agreement will be binding on, and benefit, any of your and Bank’s successors and assigns, which such assigns shall include, for the avoidance of doubt, any subsequent holders of your loan. Except as provided by applicable law, Bank may sell, assign or transfer your loan and this Agreement in whole or in part without your permission and without prior notice to you. If this Agreement is sold, assigned or otherwise transferred, your rights under the law or under this Agreement will in no way be altered or impaired. Any assignee or assignees, including, for the avoidance of doubt, any subsequent holders of this Agreement, will take Bank’s place under this Agreement. You must pay them and perform all of your obligations to them and not Bank. If you pay Bank after you are notified that your loan or this Agreement has been transferred, Bank may return the payment to you, forward the payment to the assignee, or handle it in another way that is reasonable. You may not sell, assign, delegate or transfer your loan, this Agreement, or your obligations under this Agreement to someone else without Bank’s written permission or the written permission of any subsequent holder of your loan. Any sale, assignment or transfer of your loan by you in violation of this Section shall be null and void.

23. Survival of Obligations

Notwithstanding any other provision in this Agreement, the obligations in Sections 13 (Entire Agreement), 14 (Applicable Law), 21 (Severability), 22 (Assignment and Delegation), 23 (Survival of Obligations), and 24 (Binding Individual Arbitration) will survive any expiration or termination of this Agreement.

24. Binding Individual Arbitration

This arbitration provision does not apply to “Military Borrowers,” which means a “covered borrower”, as that term is defined in 32 CFR Section 232.3(g).

“Disputes” in this section are defined as any claim, controversy, or dispute between You and Bank, SQC or the Company, and their processors, suppliers or licensors (or their respective affiliates, agents, directors or employees), whether arising before or during the effective period of this Agreement, and including any claim, controversy, or dispute based on any conduct of You or Bank, SQC or the Company that occurred before the effective date of this Agreement, including any claims relating in any way to this Agreement, or any other aspect of our relationship.

General. You and the Company agree that any and all Disputes, except those that are resolved informally or brought in a small claims court, will be individually arbitrated by a neutral arbitrator who has the power to award the same individual damages and individual relief that a court can. ANY ARBITRATION UNDER THIS AGREEMENT WILL ONLY BE ON AN INDIVIDUAL BASIS; CLASS ARBITRATIONS, CLASS ACTIONS, REPRESENTATIVE ACTIONS, MASS ACTIONS, AND CONSOLIDATION WITH OTHER ARBITRATIONS ARE NOT PERMITTED. YOU WAIVE ANY RIGHT TO HAVE YOUR CASE DECIDED BY A JURY AND YOU WAIVE ANY RIGHT TO PARTICIPATE IN A CLASS ACTION AGAINST THE BANK, SQC, OR COMPANY. Nothing in this agreement prevents you or the Company from settling Disputes on a class, representative, or consolidated basis. If any term of this arbitration agreement in Section 24 is found unenforceable, including the Bellwether Arbitration procedures described below, the unenforceable term will be severed, and the remaining terms will be enforced (but in no case will there be a class action, consolidated action, mass action or representative action arbitration).

Pre-Filing Requirement to Attempt to Resolve Disputes. Before an arbitration is commenced, you and the Company agree to attempt to avoid the costs of formal dispute resolution by giving each other a full and fair opportunity to address and resolve a Dispute informally. Both parties recognize that this is an important requirement, and that breach of this requirement would be a material breach of the Terms. To provide this opportunity, before commencing any arbitration, proceeding in small claims court, or lawsuit (when permitted by this arbitration agreement), each party agrees to send to the other party a written Notice (“Notice”) and personally meet and confer to informally resolve any Dispute. Any Notice to the Company should be sent by mail to Block, Inc., Attn: Arbitration Agreement, 1955 Broadway, Suite 600, Oakland, CA 94612. Any Notice sent to you will be mailed to the address on file for your account. The Notice must: (i) include your name, mailing address, $Cashtag, email address and phone number associated with your account; (ii) provide detailed information sufficient to evaluate the merits of the claiming party’s individualized claim and for the other party to determine if an amicable resolution is possible; (iii) set forth the specific relief sought, including an accurate, good-faith calculation of the amount in controversy, enumerated in United States Dollars, including whatever amount of money is demanded and the means by which the demanding party calculated the claimed damages; and (iv) be personally signed by you or the Company, as applicable. A Notice is only valid when it pertains to, and is on behalf of, an individual party. A Notice brought on behalf of multiple parties is invalid as to all. Both parties agree that they will attempt to resolve a Dispute through an informal negotiation within sixty (60) days from the date the Notice is received, and you and the Company therefore agree that, before either you or the Company demands or attempts to commence arbitration or litigation (where permitted) against the other, both parties will personally meet and confer, via telephone or videoconference, with each other in a good-faith effort to resolve informally any Dispute. These informal resolution conferences shall be individualized such that a separate conference must be held each time either party intends to commence individual arbitration or litigation (where permitted); multiple parties initiating claims cannot participate in the same informal resolution conference, unless mutually agreed to by the parties. If you are represented by counsel, your counsel may participate in the conference, but you shall also fully participate in the conference. Engaging in an informal resolution conference is a requirement that must be fulfilled before commencing arbitration or litigation (where permitted). Any statute of limitations shall be tolled while the parties engage in the informal resolution process required by this paragraph.

After that sixty (60) day period and not before, and after the informal resolution conference has occurred and not before, either party may elect, in a written Notice to the other party as described above, that it will pursue the matter either through small claims court or arbitration. The party receiving the notice shall then have seven (7) days to respond, including to elect for the case to be heard by a small claims court with jurisdiction. After that seven (7) day period and not before, either party may commence arbitration if not proceeding in small claims court with jurisdiction. You agree that compliance with the informal resolution process described above is a condition precedent to commencing arbitration or filing a claim in small claims court. A party’s failure to satisfy this condition precedent entitles the opposing party to seek immediate dismissal of the arbitration or litigation (where permitted) and the right to seek reimbursement of its costs. If either party elects small claims court, the Dispute will be resolved in that forum and not through arbitration. Each party agrees that state courts in the City of Oakland and County of Alameda, California, or federal court for the Northern District of California, referenced below, may enter injunctive relief to enforce the pre-filing requirements of this paragraph, including an injunction to stay an arbitration that has been commenced in violation of this paragraph. Each party also agrees that state courts in the City of Oakland and County of Alameda, California, or federal court for the Northern District of California may address whether a claim filed in small claims court or in arbitration has been previously released.

Scope of Arbitration. If we and you are not able to resolve the Dispute by informal negotiation or, as provided below, in a small claims court, all Disputes will be resolved finally and exclusively by binding individual arbitration with a single arbitrator (the “Arbitrator”) administered by National Arbitration and Mediation (“NAM”) (https://www.namadr.org) according to the NAM Comprehensive Rules and Procedures and, when applicable, the NAM Supplemental Rules for Mass Arbitration Filings (together, the “NAM Rules”), and this Section. In the event NAM is unavailable to administer the arbitration, either party may invoke 9 U.S.C. § 5 to request that a court appoint the Arbitrator. Except as set forth above, and for Disputes subject to jurisdiction in small claims court, the Arbitrator shall be responsible for determining all threshold arbitrability issues, including issues relating to whether the Cash App Terms (or any aspect thereof) are enforceable, unconscionable or illusory and any defense to arbitration, including waiver, delay, laches, or estoppel.

Small Claims Court. Subject to applicable jurisdictional requirements, either party may elect to pursue a Dispute in a local small-claims court rather than through arbitration so long as the matter remains in small claims court and proceeds only on an individual basis. If a party has already submitted an arbitration demand to the arbitration provider but before an Arbitrator has been selected, and the claim is subject to the jurisdiction of the filing party’s local small claims court, the other party can send a written notice to the opposing party and the arbitration provider requesting that the Dispute be decided in small claims court. Upon receipt of such notice, and if all outstanding arbitration service fees have been paid, the arbitration provider shall then administratively close the case.

Arbitration Procedures. The Federal Arbitration Act, 9 U.S.C. §§ 1-16, including its procedural provisions, fully applies. So long as it is consistent with the NAM Rules, the arbitration shall occur through the submission of documents to one Arbitrator. To the extent the Arbitrator determines a hearing is required, the arbitration shall be conducted remotely by telephone or video conference. To the extent that the Arbitrator determines that an in-person hearing is required, the arbitration hearing will take place as close to your hometown as practicable. You and the Company will have the right to file early or summary dispositive motions. The Arbitrator’s award will be binding on the parties and may be entered as a judgment in any court of competent jurisdiction. The Company values your privacy, particularly with respect to your financial transactions and data. Each of the parties shall maintain the confidential nature of the arbitration and shall not (without the prior written consent of the other party) disclose to any third party the fact, existence, content, award, or other result of the arbitration, except as may be necessary to enforce, enter, or challenge such award in a court of competent jurisdiction or as otherwise required by applicable law. While an Arbitrator may award declaratory or injunctive relief, the Arbitrator may do so only with respect to the individual party seeking relief and only to the extent necessary to provide relief warranted by the individual party’s claim. The Arbitrator’s decision and judgment thereon will not have a precedential or collateral estoppel effect with respect to disputes involving other parties.

Bellwether Arbitration Procedures. You and the Company agree that if twenty-five (25) or more similar individual arbitration demands are brought against you or us by or with the assistance of the same or coordinated counsel or entities (“Mass Proceeding”), the parties shall select twelve (12) individual arbitration demands (six (6) per side) for arbitration to proceed (“Bellwether Arbitrations”). The NAM Supplemental Rules for Mass Arbitration Filings shall apply if the parties’ dispute is deemed by NAM, in its sole discretion pursuant to the NAM Rules and this Section 24, to be part of a Mass Proceeding. While the Bellwether Arbitrations are adjudicated, all other demands for arbitration that are part of the Mass Proceeding shall be held in abeyance and stayed, and no party shall be responsible for paying any administrator or arbitrator fees (other than the arbitration provider’s initial filing/administrative fees, and Procedural Arbitrator fees, if applicable) with respect to such stayed demands while the Bellwether Arbitrations are adjudicated. Any applicable statute of limitations shall be tolled as to non-Bellwether Arbitrations demands when such non-Bellwether Arbitrations are held in abeyance. The tolling period will begin when the claimant first provided the Notice of its intent to initiate an informal resolution conference as described above.

Any party may request, within five (5) Business Days of being notified by the arbitration provider that arbitration demand(s) have been filed, that the arbitration provider appoint a sole procedural arbitrator (“Procedural Arbitrator”) to determine initial questions that arise in the Bellwether Arbitrations, including whether the Bellwether Arbitration procedures are applicable or enforceable, whether any particular demand is part of a Mass Proceeding, and whether any particular demand within a Mass Proceeding was filed in accordance with this Section 24. To expedite the Procedural Arbitrator’s resolution of any such initial questions, the parties agree that the Procedural Arbitrator may set forth such procedures as are necessary to resolve any such initial questions promptly. The Company shall pay the Procedural Arbitrator’s costs.

All parties agree that the Bellwether Arbitration procedures are designed to be a generally faster, more efficient, and more affordable mechanism for resolving a Mass Proceeding, including the claims of individual parties who are not selected for a Bellwether Arbitration. All parties shall work in good faith with the Arbitrator or Procedural Arbitrator to complete each Bellwether Arbitration within one hundred and twenty (120) calendar days of its initial pre-hearing conference.

Following resolution of the Bellwether Arbitrations, all parties agree to engage in a mediation of all remaining arbitration demands comprising the Mass Proceeding (the “Bellwether Mediation”). The Bellwether Mediation shall be administered by the arbitration provider. If the parties are unable to resolve the remaining demands for arbitration comprising the Mass Proceeding within thirty (30) calendar days following the Bellwether Mediation, the remaining demands for arbitration comprising the Mass Proceeding shall be administered by the arbitration provider on an individual basis pursuant to the arbitration provider’s rules and this Section 24, unless the parties mutually agree otherwise in writing.

All parties agree to cooperate in good faith with the arbitration provider to implement the Bellwether Arbitration procedures, including deferring any costs associated with the non-Bellwether Arbitration Mass Proceedings until the Bellwether Arbitrations and subsequent Bellwether Mediation have concluded, and cooperate on any steps to minimize the time and costs of arbitration, which may include the appointment of a discovery special master to assist the arbitrator in the resolution of discovery disputes and the adoption of an expedited calendar of the arbitration proceedings.

These Bellwether Arbitration procedures shall in no way be interpreted as authorizing a class, collective, or mass action of any kind, or an arbitration involving joint or consolidated claims under any circumstances, except as expressly set forth in this Section 24.

Arbitration Fees. In accordance with the NAM Rules, the party initiating the arbitration (either you or us) is responsible for paying the applicable filing fee. For purposes of this arbitration agreement, references to you and the Company also include respective subsidiaries, affiliates, agents, employees, predecessors, successors and assigns as well as authorized users or beneficiaries of the Services.

Opt Out. You may reject this arbitration agreement, in which case only a court may be used to resolve any Dispute. To reject this agreement, you must send us an opt-out notice (the “Opt Out”) within thirty (30) days after you take out a loan or the Bank first provides You with the right to reject this provision. The Opt Out must be mailed to First Electronic Bank, ℅ Square Capital, LLC, Attn: Arbitration Provision, 1955 Broadway, Suite 600, Oakland, CA 94612 (please note that any correspondence not related to opting out sent to this address will not receive a reply). For your convenience, we are providing an opt out notice form you must fill in to Opt Out. You must complete this form by providing your name, address, $Cashtag, phone number and the email address(es) you used to sign up for the loan as well as the loan number for the loan for which you choose to Opt Out. This is the only way of opting out of this arbitration agreement. Rejecting this provision will not affect any other aspect of the Agreement or your loan and you will be opted out of arbitration for any subsequent (but not prior) loans you may borrow. An Opt Out that purports to opt out multiple parties will be invalid as to all such parties. No individual party (or their agent, representative, or group of agents or representatives) may effectuate an Opt Out on behalf of other individual parties.

Court Proceedings. Subject to and without waiver of the arbitration provisions above, you agree that any judicial proceedings (other than small claims actions as discussed above) will be brought in and you hereby consent to the exclusive jurisdiction and venue in the state courts in the City of Oakland and County of Alameda, California, or federal court for the Northern District of California.

25. Military Annual Percentage Rate Statement:

Federal law provides important protections to members of the United States Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependents may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: (1) the costs associated with credit insurance premiums; (2) fees for ancillary products sold in connection with the credit transaction; (3) any application fee charged (other than certain application fees for specified credit transactions or accounts); and (4) any participation fee charged (other than certain participation fees for a credit card account). To hear these disclosures and information about your payment obligation over the telephone, please call the following toll-free number: (855) 949-7782.

26. State Notices

For KANSAS residents:

NOTICE TO CONSUMER: 1. Do not sign this Agreement before You read it. 2. You are entitled to a copy of this Agreement. 3. You may prepay the unpaid balance at any time without penalty.

For MASSACHUSETTS residents:** Massachusetts law prohibits discrimination based upon marital status or sexual orientation.

For MISSOURI and NEBRASKA residents: Oral agreements or commitments to loan money, extend credit or to forbear from enforcing repayment of a debt including promises to extend or renew such debt are not enforceable. To protect You (borrower(s)) and Bank (creditor) from misunderstanding or disappointment, any agreements we reach covering such matters are contained in this writing, which is the complete and exclusive statement of the agreement between You and Bank, except as You and Bank may later agree in writing to modify it.

For NEW JERSEY residents: The section headings of this Agreement are a table of contents and not contract terms. Because certain provisions of this Agreement are subject to applicable law, they may be void, unenforceable or inapplicable in some jurisdictions. None of these provisions, however, are void, unenforceable or inapplicable in New Jersey.

For OHIO residents: The Ohio laws against discrimination require that all creditors make credit equally available to all credit-worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with the law.

For SOUTH DAKOTA residents: If there are any improprieties in the servicing of this loan or in any loan practices, please refer to the South Dakota Division of Banking: South Dakota Division of Banking, 1714 Lincoln Avenue, Suite 2, Pierre, South Dakota, 57501; (605) 773-3421.

For UTAH residents: As required by Utah law, You are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if You fail to fulfill the terms of your credit obligations.

This Agreement is the final expression of the agreement between You and Bank and it may not be contradicted by evidence of an alleged oral agreement.

For WASHINGTON residents: Oral agreements or oral commitments to loan money, extend credit, or to forbear from enforcing repayment of a debt are not enforceable under Washington law.

For Married WISCONSIN residents: No provision of any marital property agreement, unilateral statement or court decree adversely affects our rights, unless You give Bank a copy of such agreement, statement or court order before Bank grants You credit, or Bank has actual knowledge of the adverse provision. All obligations under this Agreement will be incurred in the interest of your marriage or family. You understand that Bank may be required to give notice of this Agreement to your spouse. Married Wisconsin residents must furnish the name and email address of their spouse to First Electronic Bank ℅ Square Capital, LLC through Cash App Support, which is accessed by clicking on your profile in the Cash App and clicking “Support” and following the in-app prompts.

This Agreement is the final expression of the agreement between You and Bank and it may not be contradicted by evidence of an alleged oral agreement.

Executed via electronic signature on the date of your loan as shown in your Cash App Activity tab.

Cash App Afterpay on Cash App Card Loan Agreement

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