Insurance coverage is not guaranteed. All eligibility, underwriting, pricing, and acceptance decisions are made solely by Allianz Trade / Euler Hermes (“Allianz” or “Insurer”)) in accordance with the policy terms. 40 Seas Inc. (or its affiliates) (the “Provider”) has no authority to approve coverage or change policy terms.

It is agreed that the Customer commits to pass through the Provider’s platform all its account receivables volumes and buyers in order to be eligible for the Insurance Services (as defined hereafter) 

1. Purpose and Scope

This Annex governs the Customer’s use of the Trade Insurance handling service made available through the Provider’s platform (the “Insurance Service”). The Insurance Service enables the Customer to request, access, and manage trade insurance coverage offered by the Insurer.

1. No Insurance Brokerage / No Insurance Mediation

The Customer acknowledges and agrees that:

a) Provider is not an insurance company, insurer, reinsurer, agent, or underwriter.

b) Provider is not an insurance broker, insurance intermediary, insurance producer, or insurance advisor, and does not perform regulated insurance distribution/mediation activities.

c) Provider does not provide insurance advice, recommendations, suitability assessments, or comparisons of insurance products.

d) Provider’s role is limited to technical enablement and administrative facilitation of interactions between the Customer and the Insurer.

2. Policy Issuance and Underwriting Decisions

All decisions regarding insurance coverage are made exclusively by the Insurer, including without limitation:

1. eligibility and acceptance/rejection of applications;
2. underwriting decisions;
3. coverage scope, limits, exclusions, and deductibles;
4. premium calculation and pricing;
5. policy amendments, renewals, suspensions, cancellations, or terminations.

Provider has no authority to bind the Insurer, issue insurance coverage, approve or reject coverage, modify policy terms, or make underwriting decisions.

3. Insurance Contract and Governing Policy Documents

Any insurance coverage obtained through the Insurance Service constitutes a separate contract between the Customer and the Insurer (the “Insurance Policy”).

The Insurance Policy, including its terms, conditions, exclusions, and endorsements, is the only legally binding document governing the insurance coverage. Provider’s Terms and this Annex govern only the use of Provider’s platform and related services.

4. Information Provided by Customer

1. To obtain the Insurance Policy, the Customer will make sure to utilize the Platform’s Buyer Intelligence Module and such buyers must be successfully verified and approved. In certain cases, the Insurer may request additional information such as buyer's historical transaction volumes and payment performance; and anticipated or projected future transaction volumes.
2. To enable the Insurance Service and the exchange of data between the Platform and the Insurer, the Customer may be required to provide the Provider with access credentials, authentication tokens, API keys, or other technical access mechanisms relating to the Customer’s systems or third-party platforms used by the Customer. The Customer expressly authorizes the Provider to use such credentials or access mechanisms solely for the purpose of:

• retrieving and transmitting insurance-related data to the Insurer;
• receiving insurance-related data from the Insurer; and
• enabling the operational administration of the Insurance Service through the Platform.

3. The Customer acknowledges that it is responsible for ensuring that it is authorized to grant such access and that any credentials or access mechanisms provided are valid, current, and lawfully obtained.
4. The Provider shall not be responsible for any limitations, disruptions, inaccuracies, or failures resulting from changes to the Customer’s systems, third-party platforms, APIs, authentication requirements, or access permissions.
5. The Provider will implement reasonable technical and organizational measures to protect credentials and access data in accordance with its applicable security and privacy practices. The Provider does not access or use such credentials for any purpose other than the Insurance Service.
6. The Customer is solely responsible for ensuring that all information submitted through the Platform in connection with the Insurance Service is: accurate, complete, up to date, not misleading. The Customer acknowledges that incorrect, incomplete, or misleading information may result in rejection of coverage, cancellation of the policy, denial of claims, or other consequences under the Insurance Policy, and Provider shall have no liability for such outcomes.
7. Coverage amounts and coverage status shown in the Reevol platform are provided for convenience and may not update in real time. Insurer’s policy records are the single source of truth for coverage amounts, coverage status, and any changes to the policy. The Insurer platform and/or the signed policy documents will prevail.

5. Data Sharing and Authorization 

1. The Customer hereby authorizes Provider to share with the Insurer such data, information, and documentation as is reasonably required for the purposes of:

• evaluating eligibility for insurance coverage;
• underwriting, issuing, administering, amending, or renewing the Insurance Policy; and
• processing and administering claims.

2. The Customer further authorizes Provider to receive from the Insurer insurance-related data, including coverage status, coverage limits, policy information, and claim-related updates, for the purpose of displaying such information on the platform and enabling operational administration of the Insurance Service.

3. The Customer represents and warrants that it has all necessary rights, permissions, and lawful bases (including, where applicable, consents from third parties such as buyers or counterparties) to provide such data and to permit its disclosure to the Insurer.

4. Provider acts solely as a technical facilitator in connection with such data exchanges. The Insurer acts as an independent data controller with respect to personal data processed in connection with underwriting, policy administration, and claims handling.

5. Each party shall process personal data in accordance with applicable data protection laws and its respective privacy notices and data processing agreements, as applicable.

6. Claims Handling

All claims under the Insurance Policy are: assessed, accepted or rejected, processed, settled solely by the Insurer and subject to the Insurance Policy terms. Provider may provide a technical interface to submit claim-related information or track claim status, but Provider: does not decide claims outcomes, does not guarantee claim acceptance or payout, does not have authority to negotiate or settle claims on behalf of the Insurer.

7. Payments and Fees (Platform vs. Insurance)

Premiums and insurance-related charges are determined solely by the Insurer. Upon approval by the Insurer and/or execution of the Policy Documents (as applicable), the Insurance Service shall be deemed activated on the platform, and the Customer acknowledges and agrees that:
the applicable insurance service fees shall become payable through/within the platform; and
the minimum monthly volume requirement of USD 300,000 monthly shall apply and be enforced (e.g. a minimum of $300,000 insured payment volume per month is committed and billed).

8. Regulatory Compliance

The Customer acknowledges that the Insurance Service is offered in cooperation with the Insurer and subject to applicable insurance laws and regulations. The Insurer is solely responsible for regulatory compliance related to the issuance and management of the Insurance Policy.

9. Contact and Communications

Reevol may route communications between the Customer and the Insurer through the platform. However, all legally binding insurance communications (including policy notices, endorsements, claim decisions) are issued by the Insurer or its authorized representatives.

Premium Trade Insurance confirmation:

I have read and accepted the specific terms above,

Authorized Signatures

Customer: [Customer Legal Name]

By: ___________________________

Name: _________________________

Title: _________________________

Date: _________________________