Updates to the Vendor Payouts Terms and Conditions

We are making the following changes to the Vendor Payouts Terms and Conditions:

• “Pursuant to these Terms, you may request to transfer your funds held in your designated account associated with PayPal Affiliate (as defined below) that are received from an Eligible Transaction (as defined below) to a bank account opened in China by your Designated Vendor (as defined below) (hereinafter “Vendor Bank Account”) under the Service. Each request to transfer is a cross-border payment request under the Service.” has been changed to “Pursuant to these Terms, you may request to pay to a bank account in China (hereinafter “Vendor Bank Account”) opened by your Designated Vendor (as defined below) with the funds held in your Linked Offshore Account (as defined below) that are received from an Eligible Transaction (as defined below). Each request is a cross-border payment request under the Service.”
• “These Terms are in addition to the User Agreement for PayPal Services (hereinafter “PPCN User Agreement”) and its incorporated policies, including the Acceptable Use Policy and Privacy Policy.” has been changed to “These Terms are in addition to the User Agreement for PayPal Payment Services and/or User Agreement for PayPal China Cross-Border Payment Services (as applicable, each a “China User Agreement”), and its incorporated terms of services and policies, including PayPal Worldwide Terms of Service, where applicable, the Acceptable Use Policy and Privacy Policy.”
• Defined “Linked Offshore Account” as “the PayPal account opened with a PayPal Affiliate by you or a different entity, as applicable, which is associated with your PayPal Account for the purpose of the Service. PPCN is entitled to review, approve and place controls on any PayPal account associated and/or purported to be associated with your PayPal Account under these Terms, including, but not limited to, the identity and account number of the PayPal account(s). For the purpose of these Terms, a Linked Offshore Account may include a PayPal account opened with PayPal Pte. Ltd. and/or PayPal Hong Kong Limited. ”
• ““Eligible Transactions” refers to cross-border transactions carried out by you, on your behalf, and/or for your interest under a lawful arrangement with you, which you can lawfully declare in your name. Eligible Transactions shall comply with applicable Laws and regulations of People’s Bank of China and State Administration of Foreign Exchange of China, and shall have been reviewed and approved by PPCN for using the Service.” has been changed to ““Eligible Transactions” refers to cross-border transactions carried out directly or indirectly by you and/or the owner of the Linked Offshore Account, on your behalf, and/or for your interest, which can be lawfully declared in your name for the purpose of any applicable regulatory reporting under the Service. Eligible Transactions shall comply with applicable Laws and regulations of People’s Bank of China and State Administration of Foreign Exchange of China. PPCN is entitled to review, approve and decline any Eligible Transaction for the purpose of the Service.”
• Added “Where the Owner of Your Linked Offshore Account is a Different Entity” section as follows:
  • “Where the owner of the Linked Offshore Account is a different entity, you specifically represent, warrant and undertake to us that for the purpose of, and during your entire use of, the Service:
    • Pursuant to written legal and valid arrangements, the owner of the Linked Offshore Account is legally and properly authorized to (a) carry out cross-border trading activities under the Linked Offshore Account and any associated procurement on your behalf and/or for your benefit, including but not limited to the purchase of goods and services from Designated Vendor, and (b) access and operate your PayPal Account, including but not limited to initiating payments to your Designated Vendors from your PayPal Account under the Service. All trading and procurement activities carried out on your behalf and/or for your benefit under the Linked Offshore Account and/or your PayPal Account are in compliance with applicable Laws and regulatory requirements.
    • You are entitled to debit any funds received into the Linked Offshore Account on valid and subsisting legal and/or contractual grounds, free of any claims, encumbrance and/or disputes, whether or not related to a third party. The owner of the Linked Offshore Account has given valid, adequate and subsisting consents and authorizations, including but not limited to consent to data sharing and debit authorization in relation to the Linked Offshore Account.
  • Should you breach any of the foregoing representations, warranties and undertakings at any time, you agree to assume full responsibility and to indemnify and hold us, PayPal Affiliates, PayPal Service Cooperative Parties, as well as their respective employees, officers, and agents harmless from any losses or liabilities.”
• “For the purpose of activating and using the Service, you agree to provide us with relevant information and authorize us to collect from PayPal Service Cooperative Parties any information that we deem necessary to review and evaluate Eligible Transactions and adjust any available balance enabled under the Service, including information relating to your personal identity and business identity, risk control information, transaction information, account information, financial information, order information, payment information, logistics information and any other records and documents relevant to the transaction verification. You understand and agree that any displayed available balance (or payable balance or the equivalent) under the Service is merely a service quota which is adjustable from time to time and is not the same as or equal to any balance held in your account provided by PayPal Affiliate. You agree that we may share any such information obtained with PayPal Service Cooperative Parties in order to provide you with the Service. You acknowledge you have carefully read and fully understand the Privacy Policy of PPCN.” has been changed to “For the purpose of activating and using the Service, you agree to provide us (and procure to be provided to us where the owner of the Linked Offshore Account is a different entity) with all relevant information, and authorize us (and procure effective authorization to us where the owner of the Linked Offshore Account is a different entity) to collect from PayPal Service Cooperative Parties any information that we deem necessary to review and evaluate Eligible Transactions and adjust any payable balance enabled under the Service, including information relating to the personal identity and business identity of you and the owner of the Linked Offshore Account, risk control information, transaction information, account information, financial information, order information, payment information, logistics information and any other records and documents relevant to the transaction verification. You understand and agree that any displayed payable balance (or collectible and/or payable service amount or the equivalent) under the Service is merely a service quota which is adjustable from time to time and is not the same as or equal to any balance held in the Linked Offshore Account. You agree, and undertake to procure consents where necessary, that we may share any such information obtained relating to you and/or the owner of the Linked Offshore Account with PayPal Service Cooperative Parties for the purpose of the Service. You acknowledge you have carefully read and fully understand the Privacy Policy of PPCN.”
• “After activation of the Service, you agree to continue to provide us with relevant information and authorize us to collect from PayPal Service Cooperative Parties any information we deem necessary to continuously review and evaluate Eligible Transactions, verify payment requests and adjust available balance enabled under the Service, including information relating to your personal identity and business identity, risk control information, transaction information, account information, financial information, order information, payment information, logistics information and any other records and documents relevant to the transaction verification. We may from time to time request you to provide us with updated information (or otherwise correct information previously provided) if we deem necessary, pursuant to applicable Laws and regulatory requirements. You undertake to fulfill our request in a timely manner, otherwise your use of the Service may be rejected, suspended or terminated. Please carefully read the Privacy Policy of PPCN. You undertake to reply to our request in a timely manner and provide us with genuine, accurate, complete, updated and effective information. You shall be solely responsible for all liabilities, losses and consequences as a result of your provision of any information that is untrue, inaccurate, incomplete, and/or ineffective.” has been changed to “After activation of the Service, you agree to act in a timely manner to continue to provide us (and procure to be provided to us where the owner of the Linked Offshore Account is a different entity) with all relevant information and authorize us (and procure effective authorization to us where the owner of the Linked Offshore Account is a different entity) to collect from PayPal Service Cooperative Parties any information we deem necessary to continuously review and evaluate Eligible Transactions, verify payment requests and adjust payable balance (or collectible and/or payable service amount or the equivalent) enabled under the Service, including information relating to the personal identity and business identity of you and the owner of the Linked Offshore Account, risk control information, transaction information, account information, financial information, order information, payment information, logistics information and any other records and documents relevant to the transaction verification. We may from time to time request you to provide us with updated information (or otherwise correct information previously provided) if we deem necessary, pursuant to applicable Laws and regulatory requirements. You undertake to fulfill our request of information and procure effective fulfillment of our request of information where the owner of the Linked Offshore Account is a different entity in a timely manner, otherwise your use of the Service may be rejected, suspended or terminated. Please carefully read the Privacy Policy of PPCN. You undertake to reply to our request in a timely manner and provide us with genuine, accurate, complete, updated and effective information. You shall be solely responsible for all liabilities, losses and consequences as a result of your provision of any information that is untrue, inaccurate, incomplete, and/or ineffective.”
• “You acknowledge and confirm that PPCN may reject, suspend and/or terminate the Service if any of the deduction authorizations, and/or account association under the Service made by you to PayPal Affiliate(s) is interrupted, failed, invalidated, terminated, or revoked for any reason.” has been changed to “You acknowledge and confirm that PPCN is entitled to reject, suspend and/or terminate the Service if any of the consents to data sharing, debit authorizations, and/or account association under the Service made by you or the owner of the Linked Offshore Account is interrupted, failed, invalidated, terminated, or revoked for any reason, voluntarily or involuntarily.”
• “You may request for termination of the Service, and we will handle your request accordingly within a reasonable time. If any payment request you have initiated has not been completed when you request for the termination of the Service, we and PayPal Service Cooperative Providers will continue to process such payment request and complete the payment to your Vendor Bank Account, unless the process or payment is not allowed in accordance with applicable Laws or regulatory requirements.” has been changed to “You may request termination of the Service, and we will handle your request accordingly within a reasonable time. If any payment request you have initiated has not been completed, or there is any information pending review with respect to your PayPal Account and/or the Service when you request termination of the Service, we and PayPal Service Cooperative Providers shall continue to process such payment request and complete the payment to your Vendor Bank Account, and shall complete our review of any such information, as applicable, unless the payment request or information review is not permitted under applicable Laws or regulatory requirements.”
• “You acknowledge and confirm that if you request for termination of the Service, we may accordingly notify the PayPal Affiliate(s) to which you made the deduction authorization and account association under the Service, and the PayPal Affiliate(s) may immediately suspend or terminate your relevant deduction authorization and account association. If you have any question, you shall promptly contact the PayPal Affiliate(s) for confirmation.” has been changed to “You acknowledge and confirm that if you request termination of the Service, we may accordingly notify the PayPal Affiliate(s) to whom the debit authorization and account association are made under the Service. The PayPal Affiliate(s) is entitled to follow, immediately suspend or terminate the relevant debit authorization and account association, or otherwise take any actions as it otherwise deems appropriate. If you have any questions, you should promptly contact the PayPal Affiliate(s) for confirmation.”
• Newly added “You acknowledge and confirm that PPCN is entitled to decline your request to associate your PayPal Account with a different Linked Offshore Account or your request to re-associate your PayPal Account with the same Linked Offshore Account, during or after the termination of the Service, including but not limited to the circumstance where you re-apply for the Service after you have requested the termination.”
• “You shall be solely responsible for all fees and costs under the Service, including service fees related to the payment request processing and costs related to the currency conversion. You agree that you shall also be responsible for any applicable tax, including any value added tax applicable to service fees.” has been changed to “You and/or the owner of the Linked Offshore Account, as applicable, shall be solely responsible for all fees and costs under the Service, including service fees related to the payment request processing and costs related to the currency conversion. You agree that you shall also be responsible for any applicable tax, including any value added tax applicable to service fees.”
• “For the purpose of providing the Service, we will process your payment request pursuant to your specific instructions. The currency conversion is completed through PayPal Service Cooperative Parties outside of PRC. You understand and accept that the transaction exchange rate is formed on a base exchange rate, inclusive of a currency conversion fee applied by PayPal Service Cooperative Parties, and is subject to regular adjustments. The base exchange rate is typically based on rates quoted at the wholesale currency markets on the conversion day or the prior Business Day, unless otherwise required by applicable Laws and regulatory requirements.” has been changed to “For the purpose of providing the Service, we will process your payment request pursuant to your specific instructions. In case where the currency conversion is completed through PayPal Service Cooperative Parties outside of PRC, you understand and accept that the transaction exchange rate is formed on a base exchange rate, inclusive of a currency conversion fee applied by PayPal Service Cooperative Parties, and is subject to regular adjustments. The base exchange rate is typically based on rates quoted at the wholesale currency markets on the conversion day or the prior Business Day, unless otherwise required by applicable Laws and regulatory requirements. In cases where the currency conversion is completed through PayPal Service Cooperative Parties in China, we will not charge any currency conversion fees separately in compliance with applicable Laws.”
• “We are not involved in any of your transaction disputes or claims for compensation of losses, and shall not be held responsible for any liabilities thereof. You shall be solely responsible for any complaint and dispute under any applicable contracts, arrangements and policies, which may arise from time to time during your ordinary course of business with any of your transaction counterparties, payors, vendors, customers or payees, including but not limited to any fees, costs, deductions, reserves, withholdings, provisions, reversals, off-sets or otherwise. You will indemnify and hold us, PayPal Affiliates, PayPal Service Cooperative Parties, as well as their respective employees, officers, and agents harmless from any losses or liabilities. You shall properly keep the relevant transaction data and written proof, including but not limited to orders, proof of logistics and relevant documents signed by your customers when accepting goods and/or services, as well as orders, contracts, proof of logistics, customs clearance documents, tax payment certificates and other related documents between you and your vendors for at least one year from the relevant transaction date or the termination of these Terms, whichever is later. You shall publish a refund and return policy, as well as a privacy policy pursuant to the relevant requirements of applicable Laws.“ has been changed to “We are not involved in any of transaction disputes or claims for compensation of losses against you or the owner of the Linked Offshore Account, and shall not be held responsible for any liabilities thereof. You and/or the owner of the Linked Offshore Account shall be fully responsible for any complaint and dispute under any applicable contracts, arrangements and policies, which may arise from time to time during your ordinary course of business with any of your transaction counterparties, payors, vendors, customers or payees, including but not limited to any fees, costs, deductions, reserves, withholdings, provisions, reversals, off-sets or otherwise. You agree to assume full responsibilities and to indemnify and hold us, PayPal Affiliates, PayPal Service Cooperative Parties, as well as their respective employees, officers, and agents harmless from any losses or liabilities. You shall properly keep, and procure that the owner of the Linked Offshore Account keeps, where applicable, the relevant transaction data and written proof, including but not limited to orders, proof of logistics and relevant documents signed by the customers when accepting goods and/or services, as well as orders, contracts, proof of logistics, customs clearance documents, tax payment certificates and other related documents between your vendors(including but not limited to Designated Vendor(s)) and you and/or the owner of the Linked Offshore Account, where applicable, for at least one year from the relevant transaction date or the termination of these Terms, whichever is later. You shall publish or procure to be published where the owner of the Linked Offshore Account is a different entity, a refund and return policy, as well as a privacy policy pursuant to the relevant requirements of applicable Laws.”
• “You specifically represent and warrant to us that: …(ix) Neither the designating, adding or changing an Vendor Bank Account nor any use of the Service is intended for or could give rise to any breach or potential breach of any existing obligations binding on you, legal, contractual and otherwise, including but not limited to tax evasion, evasion of investigations, illegal assets transfers, evasion of proceedings and defrauding creditors. (x) You shall be solely responsible for and properly pay any fees, disbursements and/or taxes under applicable Laws and regulatory requirements.“ has been changed to “You specifically represent and warrant to us that: …(ix) Neither the association with Linked Offshore Account, designating, adding or changing a Vendor Bank Account, nor any use of the Service is intended for or could give rise to any breach or potential breach of any existing obligations binding on you, legal, contractual and otherwise, including but not limited to tax evasion, evasion of investigations, illegal assets transfers, evasion of proceedings, incompliant booking of accounts or financial records and defrauding creditors. (x) You shall be solely responsible for and properly pay any fees, disbursements and/or taxes under applicable Laws and regulatory requirements, including but not limited to any late payment fees, charges and/or penalties thereof.”
• “We may amend these Terms and any of the other agreements and policies that apply to you from time to time. The revised version will be effective from the time we post it on the Legal Agreements page of our website, unless otherwise noted. If our changes reduce your rights or increase your responsibilities, we will post a notice on the Policy Updates page of our website providing you with at least 30 days advance notice. All future changes set out in the Policy Updates page which, at the time you register for PayPal Services, have been published on the Legal Agreements page of our website are incorporated by reference into these Terms and will take effect as specified in the relevant Policy Update(s). “ has been changed to “We may amend these Terms and any of the other agreements and policies that apply to you from time to time. The revised version will be effective from the time we post it on the Legal Agreements page of our website, unless otherwise required by applicable Laws. Without prejudice to the foregoing, if our changes reduce your rights or increase your responsibilities, we will post a notice on the Policy Updates page of our website providing you with at least 30 days advance notice. All future changes set out in the Policy Updates page which, at the time you register for PayPal Services, have been published on the Legal Agreements page of our website are incorporated by reference into these Terms and will take effect as specified in the relevant Policy Update(s).”

To review the updated Vendor Payouts Terms and Conditions, please click Here.