Data Destruction Policy

Last Updated: August 22, 2023

This Data Destruction Policy ("Policy" or "Agreement") governs the relationship between Payerset LLC ("Payerset", "we", "us", or "our") and our customers ("Company", "you", "your", or "yours") in relation to the use of Payerset offerings, hereinafter referred to as "Products" or "Services", which include but are not limited to data, metadata, user interfaces, APIs, data applications, web applications, and web services.

By using Payerset's Products or Services, Company agrees to adhere to this Policy in its entirety, acknowledging that it serves as a legally binding contract between Company's organization and Payerset. If Company is accepting this Policy on behalf of a legal entity other than an individual, such as a business or governmental entity, Company asserts and guarantees that it possesses the requisite legal authority to commit that entity to this Policy. Payerset retains the right to amend this Policy at any time, and we will post the updated Policy to this page. Company is advised to periodically review this Policy page for any changes. Any modifications will be enforceable thirty days after publication. By persisting in the utilization of Payerset's Products or Services subsequent to any Policy amendments, Company signifies its acceptance of and compliance with the revised Policy.

1. Data Destruction

a. Upon termination of any agreement related to a specific Payerset Product or Service, reasons for which may include, but are not limited to, non-payment of fees, any unauthorized or illegal use of the Product or Service, or a breach of Payerset's "Terms of Use" (accessible at https://www.payerset.com/terms-of-use), Company is obligated to promptly, and within a maximum period of ten (10) days from the termination date, eliminate all components associated with that specific Product or Service, irrespective of their format (written, electronic, or any other). Company commits to execute this data destruction in accordance with industry-leading practices and standards, ensuring deletion methods align with the protocols of their respective cloud service providers for complete data eradication.

b. Within five (5) days of the destruction of the Service, Company must provide Payerset with a certified declaration of destruction in writing, validated and signed by Company's Chief Security Officer or other equally qualified authorized executive, confirming that all components of the Service have been destroyed in accordance with the terms of this Agreement.

c. Payerset reserves the right to audit compliance with these data destruction obligations, up to and including using third party data destruction vendors. Company agrees to cooperate with Payerset in connection with such audits and to provide all necessary assistance and access to records and materials necessary to conduct the audit. Any expenses related to such audits will be shared equally between both Payerset and Company.

2. Data Backup

Upon termination of any agreement related to Payerset's Products or Services, the Company is expressly forbidden from maintaining or retaining backups of any kind related to said Products or Services. In the event that any backups exist or are inadvertently created, they must be immediately and irreversibly destroyed in compliance with the data destruction guidelines provided by Payerset. Under no circumstances, irrespective of any rationale or perceived business requirement, is the retention of such backups permitted by Payerset.

3. Breach of Data Destruction Obligations

a. In the event that Company fails to comply with the obligations set forth herein, such failure shall be considered a material breach of this Policy, entitling Payerset to pursue any and all rights and remedies available under this Policy or at law or in equity.

b. Company further acknowledges that in the event of a breach of this Agreement, substantial injury could result to Payerset and money damages may not be a sufficient remedy for such breach. Therefore, in the event that you engage in, or threaten to engage in any act which violates any provision of this Policy, Payerset shall be entitled, in addition to all other remedies which may be available to it under law, to seek injunctive relief (including, without limitation, temporary restraining orders, or preliminary or permanent injunctions) and specific enforcement of the terms of this Policy. Payerset shall not be required to show proof of actual damages or post a bond or other security in connection with the granting of any such relief.

4. Entire Agreement

This Policy, in conjunction with Payerset's "Terms of Use" (https://payerset.com/terms-of-use), represents the complete understanding between Payerset and the Company. Any legal jurisdiction or governing law stipulations found within the "Terms of Use" are applicable to this Policy as well.

5. Contact

Please contact Payerset at info@payerset.com with any questions or concerns regarding this policy.