Buyer Terms

TWO B2B 

KEY INFORMATION FOR END CUSTOMERS

Definitions

We use the following terms in this Key Information for End Customers: 

Business Day means any day other than a Saturday, Sunday or a Bank or public holiday in England and Wales; 

Receivable means the amount of any type of debt, payment obligation, indebtedness or monetary claim including any tax or duty payable, owed to a Store, that will arise from Your purchase.

Services means all services provided by Us as part of Our payment solution.

Solution means the services for business-to-business invoicing made available by Us via a software-as-a-service platform.

Store means the (online or offline) store of the business-to-business retailer, or seller, in which You have made Your purchase.

We/Us/Our/Two means TWO B2B LTD (a company registered in England and Wales with company number 13078389 whose registered office is at 4 Crown Place, London, EC2A 4BT, trading as “Two”). 

You/Your means the company that has made a purchase in the Store and has chosen to pay by means of Our payment Services, including any principal where that company is acting as an agent.

Assessment of application and procedure

By choosing the Solution, You are giving Us permission to perform AML checks and credit checks on You. We require Your information for Us to run Our underwriting processes and come to a decision on whether We are willing to purchase a Receivable.

We have absolute discretion on whether to purchase a Receivable. 

Prior to Us purchasing a Receivable, We may contact You to confirm the amount of that Receivable and any other details of the relevant transaction. We may also carry out further verification checks where We deem it appropriate. 

We will only consider purchasing a Receivable if Our verification processes are completed to Our satisfaction. If Our verification process results in Us not wishing to purchase a Receivable, then We aim to notify You within one (1) Business Day of Your order on the Store.

Requirements 

You can only use the Solution if:

• You are not currently insolvent and have not ceased to pay Your debts in a timely manner;
• where you are an agent, You must be authorised by the company You represent to use the Solution and to submit a purchase intent on its behalf; and
• You have provided accurate information regarding Your identity, Your relationship to any company You represent to submit a purchase intent and Your delivery details.

Payment

By choosing to pay using the Solution, you are acknowledging that Your payment obligations arising from Your purchase will be assigned and transferred to Us. You will therefore need to make payment for Your purchase to Us and You only be discharged from Your payment obligations by paying outstanding obligations directly to Us.

You will need to fulfil Your payment obligations arising from Your purchase using Our Solution by the Due Date and in accordance any other conditions stated on each invoice.

Upon Our request, You will need to provide information required for Us to provide the Services and to collect payment from You.

If You fail to pay an invoice by the Due Date: 

• You will be in default;
• a late fee may be applied where the invoice remains unpaid after the Due Date; and/or
• We may decide to transfer Your debt to an external debt collection agency.

If You make a payment without a valid payment reference, We will use the amount paid to cover any outstanding Receivable, starting with the receivable with the earliest creation date.

If You make a payment with payment reference and a payment amount larger than the corresponding Receivable, We will use the additional amount to cover other outstanding Receivables, starting with the receivable with the earliest creation date.

We have the right to assign, transfer and/or sell the debt arising from Your purchase in the Store to a third party at any time.

In the event that You fail to pay any outstanding Receivable by the Due Date, all other Receivables owed by You to Us, whether due or not, will be deemed to be in default immediately. This means that all outstanding amounts will become payable to Us in full, without further notice or demand, and will accrue any applicable late fees or interest from their respective Due Dates.

Responsibility for loss

We are involved in the payment processing activity, but not with Your purchase from a Store. Therefore, except where required by law, we are not responsible for any losses that may occur to You in connection with Your purchase.

Changes

We may from time to time change the basis on which We offer the Solution. If We do so, then We will seek to inform You within 90 Business Days.