Terms and conditions

Version 2022:1

I Waya Finance & Technology AB's general terms and conditions (hereinafter "The agreement"), you will find rules, requirements and prerequisites for becoming a customer and user of our services. You must read and accept the agreement in order to gain access to our services.

1. Introductory Terms and Conditions

This Agreement applies between Waya Finance & Technology AB, org. no. 559012–7725, Sveavägen 9, 111 57 Stockholm, (“Waya”) and the Customer. Waya and the Customer can each be called "Part" and jointly "The parties".

Waya provides an automated invoice service as well as a collection service (Inkassogram), collectively called "The services".

The agreement refers to Wayas provision of the Services to the Customer, unless otherwise specifically agreed in writing.

Signing and identification against Waya with BankID is a requirement and prerequisite for accessing the Services.

A prerequisite for using the services is that the Customer pays the Start-up and monthly fees in accordance with the agreement.

In the event that the Customer fails to pay the monthly fee during the contract period, the owner Waya right to limit the Customer's access to the Services until the fee has been settled.

By accepting the Agreement, the Customer gains access to the Services, which include Wayas web application as well as surrounding services. With the Services, the Customer can, among other things, benefit Wayas invoice service and collection services. The Customer hereby also agrees that information required by law, and other information about his legal rights and obligations, can be sent to the Customer electronically and that the Customer's electronic signature has the same effect as a personally signed signature.

By the Customer entering into an Agreement with Waya Customer undertakes to comply Wayas at any time applicable Ethical Rules and Policies published on waya.se.

Waya may from time to time, at its own discretion, make updates and changes to the Agreement. It is the Customer's responsibility to take note of the versions of the Agreement that are published at any time waya.se. In all circumstances, the Customer's continued use of the Services constitutes acceptance of these changes to the Agreement.

Waya undertakes to perform Services for the Customer in accordance with the applicable at each billing occasion price list as well as supplementary contractual terms for the respective Service.

Unless otherwise specifically agreed between the parties, the following shall apply. Waya invoices the Customer on an ongoing basis based on the work performed and the expenses incurred in accordance with the prevailing price list. 

The customer must pay no later than fourteen (14) days from the invoice date. In case of late payment, late payment interest is charged at 2,2 percent per month (equivalent to annual late payment interest of 26,4 percent). Waya further has the right to impose a reminder fee in accordance with law in the event of late payment.

Waya has the right to use the Customer's company name or brand in advertising and marketing contexts after obtaining the Customer's written consent to such use. 

2. The Billing Service

Waya provides the opportunity for the Customer to use the Invoice Service service integrated via the Customer's business system. The service includes complete customer account management with distribution of invoices via e-mail, letters and e-invoices, other administration and automatic claims handling via the Debt collection service.

a) Wayas commitments
Waya undertakes to provide administrative services including the following:

- Creation and distribution of invoices to Buyers and related administration.
- Report sent invoices to the Customer on an ongoing basis.
- Provide account for the buyer's payment of invoice amount.
- Receipt of paid invoice amounts from the buyer.
- Customer service function regarding payment of invoices.
- Receive and immediately report incoming invoice amounts to the Customer.
- Automatic claim handling with sending of payment reminders, collection claims, Final notice and further automatic handling via summary process at the Bailiff as well as follow-up of overdue claims under "Follow-up services" according to conditions found under point 3.17.

b) Customer's commitments
If liquidation for the invoice claim should be paid directly to the Customer by mistake, the Customer must promptly ensure that the payment is registered in Wayas web application (My Pages/Insight).

The customer must notify immediately Waya if the recipient of the invoice disputes the payment obligation or makes another objection to the invoice generated in the Invoice Service.

The customer must save all documents that form the basis of the invoice and, upon request, keep these available for Waya.

The customer bears full responsibility for legal penalties and costs that may arise Waya due to the Customer not fulfilling its obligations under this Agreement.

c) Payout 
Payment to the Customer takes place, unless otherwise agreed, once a week. The payment takes place after Waya received payment for the respective claim.

2.1 Contract terms regarding the charging of interest and payment reminder fees

Wayas fees consist of interest and fees paid by the debtor. Waya follows the general industry recommendation regarding the charging of interest. A prerequisite for the Customer to use Wayas Invoice service service and/or Debt collection service is that the Customer updates its terms of agreement with the additions below regarding the charging of interest and fees. This update must be done before the Customer starts using the Services.

"Our invoices are administered by Waya Finance & Technology AB. Payment terms on invoice are XX days. In the event of non-payment after the invoice is due, a reminder fee of SEK 60 will be charged, as well as late payment interest of 2.2% per month (equivalent to annual late payment interest of 26,4 percent)."

3. The debt collection service (Collection schedule)

Overdue claims will be handled via Wayas special company name Debt collection.

Inkassogram undertakes to conduct debt collection operations in accordance with good debt collection law in accordance with what follows from the Debt Collection Act 1974:182 and the Data Inspectorate's regulations in force at any time regarding the same law. Inkassogram has the right to waive all or part of an assignment, if the assignment conflicts with current legislation, practice, authority intervention and guidelines, good debt collection oath as well as Inkassogram's general conditions and ethical rules.

3.1 Statutory fees and charges, interest as well as expenses and other costs that are applied to the principal amount of the invoice and that are paid by the debtor constitute Inkassogram's fee. In the event that such fees and charges, interest and expenses and other costs are not paid by the debtor, Inkassogram has the right to charge the Customer.

3.2 Inkassogram has the right to request advance payment from the Customer and obtains a general right of lien on the claims that the Customer instructs Inkassogram to collect with the right to set off or withhold amounts corresponding to Inkassogram's costs, expenses, fees and commissions from the collected funds.

Regulation of Inkassogram's fee takes place by settlement from the inflow of funds or according to another agreement if such exists. Collection schedule reports to the Customer what has been collected of capital, interest and costs. If the debtor's payment does not cover the total claim, Inkassogram's fees must be settled in the following order. First, a reminder fee and debt collection fee as well as any application fees are deducted from the amount received. Interest is then deducted from the remaining funds. Inkassogram's fees are subject to VAT, which means that the Customer is charged VAT at 25%. These amounts are settled according to the general rule against the recovered capital amount before payment takes place. The customer will receive back an amount corresponding to VAT debiting on their eventual VAT return.

Inkassogram always keeps paid amounts regarding the Customer's invoices separate from own funds through a separate client funds account at the bank where the Customer has separation rights vis-à-vis Inkassogram's other creditors.

3.3 It is the customer's responsibility to inform Inkassogram as soon as possible about everything that is important for Inkassogram's execution of the assignment, such as payments, granted credits, disputes and similar information of importance to the assignment.

3.4 Matters handed over to Inkassogram shall refer to overdue receivables incurred by the Customer and in his ordinary business in accordance with the purpose description available at the Swedish Companies Registration Office. The claim must relate to delivered goods or services rendered. The customer is responsible for the fact that the collection cases submitted to Inkassogram consist of overdue claims, that the claims are not disputed, subject to dispute, counterclaim, part of a debtor's bankruptcy, reconstruction, liquidation, debt settlement, directed at minors or otherwise unclear. Upon request from Inkassogram, the customer must be able to prove the correctness of the claim.

The receivables must, in accordance with both the debt collection act and good debt collection oath, also not be the subject of another ongoing debt collection measure or previously a registered ongoing case with the Swedish Enforcement Agency. Inkassogram's Services may therefore not be used as a means of pressure in such an ongoing matter.

The customer is unlimitedly liable for damage incurred by both the debtor and Inkassogram for debt collection cases submitted on the wrong basis. At the end of disputed or incorrectly submitted cases, the customer will be charged unpaid fees and any expenses in accordance with the applicable price list or written agreement between Customer and Debt Collection.

3.5 Decayed and unpaid receivables are handled primarily in Inkassogram's flow with the sending of payment reminders, debt collection claims and Final notices.

Upon receipt of final payment from the debtor, Inkassogram calculates accrued interest on the capital amount as a fee for the Service performed, demand fees and VAT on these fees in accordance with point 3.2 of the Agreement. Payment of the original capital amount is then made to the account specified by the customer.

If the Customer is a community association or equivalent organization, such Customer's requirements will be handled through a special process flow. If the debtor does not pay the overdue claim, Inkassogram has the option of requesting enforcement from the enforcement agency without it being preceded by an application for a payment order. In the simplified process, Inkassogram only has the right to request compensation for the original capital amount. This means that Inkassogram, upon receipt of payment in the case after the application for enforcement has been submitted to the Norwegian Enforcement Agency, settles the fees which consist of demand fees, interest on the capital amount and VAT on the fees. Payment of the remaining amount is then made to the account specified by the customer.

3.6 In the event that Inkassogram receives an assignment to initiate legal proceedings on behalf of the customer and the customer subsequently wishes to cancel the ongoing process, Inkassogram has the right to charge the customer unpaid costs, any interest and costs for time spent in accordance with the applicable price list for the services.

3.7 Inkassogram is obliged by law and in accordance with Inkassogram's general terms and conditions to block the Customer's account with Inkassogram from further use and to immediately stop payments to the Customer of collected funds in the event of suspicion of use of an account with Inkassogram in violation of this Agreement or applicable regulations as well as Inkassogram's general terms and conditions and ethical rules. If the Customer appears on some form of "blacklist" or "warning list", consisting of companies that conduct a non-serious business or otherwise exhibit deficiencies in their operations, Inkassogram has the right to block the Customer's account with Inkassogram and start an investigation in accordance with following.

If the Customer's account is blocked, Inkassogram is obliged to immediately investigate the use of the account and to clarify whether the use is contrary to this Agreement, the applicable regulations and Inkassogram's general conditions and ethical rules.

The customer has an obligation to assist Inkassogram during the investigation by quickly answering questions from Inkassogram. Upon request, the customer must provide documents requested by Inkassogram, supporting documents for cases registered with Inkassogram and other information relevant to the case, regardless of whether this has been requested by Inkassogram or not.

If it appears in Inkassogram's investigation and according to Inkassogram's assessment that the Customer's account has been used in violation of this Agreement and applicable regulations, Inkassogram's general conditions and ethical rules, Inkassogram has the right to terminate the cooperation with the Customer. In connection with terminated cooperation, all of the Customer's matters with Inkassogram are terminated, regardless of their status. The customer's debtors are informed that the cooperation between Inkassogram and the customer has ended and that the debtor's case has been closed with Inkassogram.

After the Customer's account has been terminated by Inkassogram due to improper use and in violation of this Agreement or applicable regulations as well as Inkassogram's general conditions and ethical rules, Inkassogram has the right to charge the Customer unpaid fees incurred, accrued interest, any lost income and costs for time spent in connection with the investigation of the account's use. Inkassogram charges costs for time spent with an hourly cost that corresponds to each year's applicable legal aid rate (1 kroner per hour for the year 404).

3.8 Inkassogram communicates with the customer via the channels that the customer has registered with Waya/Debit card in connection with registration of the Customer's account. It is the responsibility of the Customer and the Customer's users of Inkassogram's services to keep Inkassogram updated at all times with current e-mail addresses, telephone numbers, postal addresses, etc.

Inkassogram does not control the decision-making authority of the Customer regarding persons who use Inkassogram's services on behalf of the Customer according to the communication channels specified by the Customer. In this case, the debt collection program assumes that the customer has a correct internal control over the decision maker indicated by the customer.

Inkassogram cannot be held responsible in the event that information or requests regarding the Customer's matters with Inkassogram are sent to an incorrect or out-of-date address registered with Inkassogram by the Customer. Inkassogram can also not be held responsible for damage caused by non-response from the Customer in these requests.

In the event of non-response to inquiries from Inkassogram in the Customer's cases, Inkassogram has the right to close these cases and charge the Customer unpaid fees, interest and accrued costs according to Inkassogram's applicable at the time price list or according to another written agreement between Debt Collection and the Customer, if such exists.

3.9 Inkassogram waives all responsibility for damage caused by an organization hired by Inkassogram for collection action according to this agreement.

3.10 It is Inkassogram's goal to administer the customer's matters as quickly as possible. Inkassogram does not, however, make any guarantees or statements about the time within which Inkassogram will carry out the assignment.

3.11 Payment of the claim directly to the Customer's account shall be considered collected by Inkassogram if the payment was made after Inkassogram received the assignment.

3.12 The customer does not have the right to take measures himself or through another representative regarding debt collection assignments submitted to Inkassogram for collection before the assignment has been completed by Inkassogram.

3.13 The customer bears full responsibility for legal penalties and costs that may arise for Inkassogram due to the customer not fulfilling its obligations under this agreement.

3.14 In the event of non-payment by the Customer for Services performed by Inkassogram as well as related costs such as fees and accrued interest, Inkassogram has the right to take such measures as may mean that Inkassogram terminates the cooperation with the Customer and blocks the Customer's account. In connection with terminated cooperation, all of the Customer's matters with Inkassogram are terminated, regardless of their status. The customer's debtors are informed that the cooperation between Inkassogram and the customer has ended and that the debtor's case has been completely closed with Inkassogram.

3.15 In the event that the customer withdraws the case or ends the collaboration with Inkassogram owns Debt collection right to invoice customer processed fee as shown by price list.

3.16 Processing (E-subpoena service)

If a case is contested by the Debtor, Inkassogram is legally prevented from taking further collection measures against the Debtor. The same applies to cases where the Debtor avoids service in process through the Crown Enforcement Agency. On these occasions, the Customer needs to pursue the matter through court proceedings in order to seek the right to further demand payment. Inkassogram can assist in the process as a representative for the Customer via the company's litigation lawyers. 

The e-summation service is an optional separate service and special conditions apply to it. A separate agreement will be made for the initiation of this service.

3.17 Follow-up (“Follow-up Service”)

When a case has gone through Inkassogram's regular claim process without the debtor settling his debt and if Inkassogram judges that the debtor lacks the ability to pay in the short term, the case can, after the Customer's approval through a representative specified by the Customer, be transferred to the Follow-up Service.

In the Follow-up service, Inkassogram works actively and at its own discretion with the aim of ensuring payment and continuously checks the debtor's ability to pay and takes measures to break the statute of limitations. However, Inkassogram is not responsible for damage as a result of the claim being time-barred. Inkassogram has the right to reach a settlement with the debtor or write off a claim that is subject to follow-up. Claims that are in dispute, subject to an installment plan or enforcement cannot be transferred to the Follow-up Service.

Inkassogram's compensation for the Follow-up Service consists of a commission calculated on 40% of the remaining capital amount as well as accrued interest and claim fees. Settlement for Inkassogram's commission takes place with each payment from the Debtor.

Waya also has the right to charge the Customer reasonable expenses in any summary process management within the framework of the Follow-up Service.

If the Customer withdraws the follow-up case or terminates this agreement on debt collection services, Inkassogram has the right to charge the Customer a) all unpaid expenses and b) compensation corresponding to the agreed commission calculated on the remaining capital amount as well as accrued interest and demand fees.

4. Personal data

Processing of the Customer's data
Personal data such as Waya upon registration and use of the Services collects and processes are handled in accordance with Wayas privacy Policy. 

Processing of other people's data
Om Waya processes personal data on behalf of the Customer in connection with the use of the Invoice Service, the parties must enter into a special personal data processing agreement that regulates Wayas processing of personal data in its capacity as a personal data processor.

5. Early termination
Waya has the right, without refund of the paid fee, to terminate or cancel the Agreement with immediate effect if:

a) The application that the Customer shall be declared bankrupt is submitted, the Customer suspends its payments, enters into composition negotiations, is granted or applies for company restructuring, prepares a control balance sheet or otherwise may be considered to have become insolvent,
(b) Customer grossly neglects to observe its obligations under this Agreement, applicable regulations or there is otherwise reason to assume that Customer will not take corrective action,
(c) Customer knowingly provides incorrect or misleading information or conceals circumstances that are important,
(d) if information comes to light that means that the Customer does not meet general creditworthiness requirements,
(e) Customer initiates legal proceedings against Wayaor
(f) Customer offers for sale goods or services of a nature that violates applicable regulations or industry recommendations.

Upon termination or cancellation according to this provision owns Waya right to withhold further payments and instead take a final settlement after that Waya checked the status of outstanding claims and return times passed. Waya has the right to close the Customer's access to Wayas web service (My Pages/Insight) as well as to request part of the information that may be of importance to find out whether the Customer has breached the Agreement.

6. Limitation of liability
If either party does not fulfill its obligations under the Agreement, the other party has the right to demand compensation. Wayas responsibility for damages that may arise as a result of Wayas action or failure to act in accordance with this Agreement is limited per damage to an equivalent amount Wayas fees towards the Customer during the month immediately preceding the occurrence of the damage. Wayas total liability per year is limited to 100% of Wayas fees towards the Customer during the previous calendar year, however never higher than two price base amounts according to the Act (1962:381) on general insurance. Waya is never responsible for loss of profit or other indirect damage or damage to third parties.

7. Actions upon and after termination

In the event that the customer terminates the Agreement, that termination takes place in accordance with point 7.1 above or in other cases that the Agreement between the parties is terminated, all transactions between the parties must be terminated immediately.

Upon termination, the Party must ensure that its customers are informed that cooperation has been terminated Waya and inform customers about where any payments should be sent in the future.

If after the end of the agreement there are situations there Waya is forced to handle or inform the party or the party's customer and/or spend unreasonable time on refunds of incorrectly paid funds reserves the right Waya the right to charge the party for time spent in accordance with price list regarding processing time. 

8. Privacy
The parties undertake not, during the term of the agreement and for a period of two (2) years thereafter, to disclose to third parties confidential information, which the parties receive from each other on the basis of this Agreement or on the basis of the cooperation under the Agreement, or which is generated in the work carried out based on the Agreement. In this agreement, "confidential information" refers to any information of a technical, commercial or other nature, regardless of whether the information is documented or not and which the right-holding Party expressly states is secret or can reasonably be presumed to wish to keep secret, with the exception of:

(a) Information that is generally known or that comes to public knowledge otherwise than through a breach by the Party of the contents of this Agreement,
(b) information that the Party can demonstrate that the Party already knew before it was received from the other Party or before it was generated in the work carried out based on the Agreement,
(c) information which the Party is obliged to disclose according to applicable law, listing agreement, court or authority decision and
(d) information received by the Party from a third party without being bound by confidentiality in relation to this party.

9. force majeure
If a party's fulfillment of its obligations under this agreement is prevented or made difficult by circumstances beyond the party's control, such as e.g. lightning strike, fire, changed government regulations, government intervention, strike, communication, supplier, production or transport disruptions, exchange rate changes or natural disaster, this shall constitute grounds for exemption which entails moving forward the time for performance and exemption from damages and other possible penalties.

10. Applicable Law and Dispute Resolution
Swedish law is applied to the legal relationship between Waya and the Customer. Disputes arising from this Agreement shall be referred to and settled in general court with the Gothenburg district court as the first instance.

11. Miscellaneous
Waya® and Inkassogram® are registered trademarks with the Patent and Registration Office (PRV). Wayas Customer or Partner does not have the right to use the trademarks without agreement with Waya.