Terms of Service

Last updated: December 2025

1. Acceptance of Terms

By accessing or using Cord's services, you ("Provider," "you," or "your") agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, do not use our services.

These Terms constitute a binding agreement between you and Cord ("Cord," "we," "us," or "our").

2. Description of Services

Cord provides payment processing services that facilitate FSA/HSA payments for healthcare practices ("Services"). We act as a technology platform connecting practices with payment processing infrastructure.

Cord does not provide healthcare services, medical advice, tax advice, or legal advice.

3. Provider Responsibilities

As a Provider using Cord, you acknowledge and agree that:

Compliance Responsibilities:

  • You are solely responsible for determining whether your services qualify as eligible medical expenses under IRS Section 213(d) and applicable FSA/HSA regulations.
  • You are solely responsible for ensuring that your practice complies with all applicable federal, state, and local laws, regulations, and licensing requirements.
  • You are solely responsible for maintaining appropriate documentation, including Letters of Medical Necessity where applicable.
  • You are solely responsible for the accuracy of information provided to patients regarding FSA/HSA eligibility of your services.
  • You are solely responsible for verifying patient information and the appropriateness of any documentation you issue.

Prohibited Activities:

  • Misrepresenting the nature of services to obtain FSA/HSA approval
  • Submitting false or misleading information through our platform
  • Using our Services for any unlawful purpose
  • Attempting to circumvent FSA/HSA eligibility requirements

4. LMN Templates and Tools

Cord may provide Letter of Medical Necessity templates and tools to assist Providers. You acknowledge and agree that:

  • Templates are provided as convenience tools only, not as medical or legal advice
  • You are solely responsible for the content, accuracy, and appropriateness of any LMN you issue
  • Templates do not guarantee FSA/HSA approval
  • You must customize templates to reflect accurate patient information and clinical judgment
  • Cord does not review, approve, or validate any LMN you create or issue

5. Third-Party Referrals and Services

Cord may provide referral services to third-party providers and product companies ("Third-Party Partners"). You acknowledge and agree that:

  • Cord does not endorse, guarantee, or warrant any Third-Party Partner or their products
  • Your relationship with any Third-Party Partner is solely between you and that partner
  • Third-Party Partner products and services are subject to their own terms and policies
  • Cord is not responsible for the quality, safety, legality, or efficacy of any third-party products
  • You are responsible for compliance with all applicable regulations regarding any products or services you offer or recommend

6. Fees and Payment

Pricing: Service fees are determined by agreement between you and Cord. Contact us for current pricing.

Payment: You authorize Cord to collect applicable fees from transactions processed through our Services.

Payment Processing Fees: Standard payment processing fees from third-party providers are separate from Cord's fees and are your responsibility.

No Refunds: Fees are non-refundable except as required by law.

7. Term and Cancellation

Term: These Terms are effective upon your acceptance and continue on a month-to-month basis until terminated.

Cancellation by You: You may cancel your account at any time by providing 30 days written notice to hello@cord.ai. Upon cancellation:

  • Access to Services will terminate at the end of the notice period
  • Outstanding fees become immediately due
  • We may retain transaction records as required by law

Cancellation by Cord: We may suspend or terminate your account at any time, with or without cause, upon 30 days notice to you (or immediately in cases of fraud, illegal activity, or violation of these Terms). Reasons for termination may include, but are not limited to:

  • Violation of these Terms
  • Fraudulent or illegal activity
  • Excessive chargebacks or disputes
  • Failure to pay fees
  • At our sole discretion

Effect of Termination: Decline appeal support and related services are available only to Providers with an active Cord subscription in good standing.

8. Disclaimer of Warranties

CORD PROVIDES ITS SERVICES "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED.

WE DO NOT WARRANT THAT:

  • FSA/HSA payments will be approved for any particular transaction
  • Our Services will be uninterrupted, secure, or error-free
  • LMN templates will result in claim approval
  • Third-Party Partner products or services will meet your needs

APPROVAL OF FSA/HSA PAYMENTS IS SUBJECT TO THE POLICIES OF INDIVIDUAL FSA/HSA ADMINISTRATORS AND CARD ISSUERS, OVER WHICH CORD HAS NO CONTROL.

9. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, CORD SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, DATA, OR BUSINESS OPPORTUNITIES.

CORD IS NOT LIABLE FOR ANY CLAIMS, DAMAGES, OR LOSSES ARISING FROM:

  • Declined FSA/HSA transactions
  • Determinations by FSA/HSA administrators regarding eligibility
  • IRS audits or penalties related to FSA/HSA usage
  • Your failure to comply with applicable laws or regulations
  • Inaccurate information provided by you or your patients
  • Actions or omissions of Third-Party Partners
  • Any LMN you create, issue, or submit

IN NO EVENT SHALL CORD'S TOTAL LIABILITY EXCEED THE FEES PAID BY YOU TO CORD IN THE SIX (6) MONTHS PRECEDING THE CLAIM.

10. Indemnification

You agree to indemnify, defend, and hold harmless Cord and its officers, directors, employees, and agents from any claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or related to:

  • Your use of our Services
  • Your violation of these Terms
  • Your violation of any applicable laws or regulations
  • Any LMN you create, issue, or submit
  • Your relationship with patients or Third-Party Partners
  • Any claim that your services do not qualify for FSA/HSA reimbursement

11. Arbitration Agreement and Class Action Waiver

PLEASE READ THIS SECTION CAREFULLY. IT AFFECTS YOUR LEGAL RIGHTS.

Mandatory Arbitration: Any dispute, claim, or controversy arising out of or relating to these Terms or your use of Cord's Services shall be resolved by binding arbitration administered by JAMS under its Streamlined Arbitration Rules, rather than in court, except that either party may bring individual claims in small claims court if they qualify.

Waiver of Jury Trial: YOU AND CORD EACH WAIVE ANY CONSTITUTIONAL AND STATUTORY RIGHTS TO GO TO COURT AND HAVE A TRIAL BEFORE A JUDGE OR JURY.

Class Action Waiver: ALL CLAIMS AND DISPUTES MUST BE ARBITRATED ON AN INDIVIDUAL BASIS AND NOT ON A CLASS BASIS. CLAIMS OF MORE THAN ONE PROVIDER OR USER CANNOT BE ARBITRATED JOINTLY OR CONSOLIDATED.

Opt-Out: You may opt out of this arbitration agreement by sending written notice to hello@cord.ai within thirty (30) days of first accepting these Terms.

Survival: This arbitration agreement survives termination of these Terms.

12. Changes to Terms

We may modify these Terms at any time. Material changes will be communicated via email or through our Services with at least 30 days notice. Continued use after changes constitutes acceptance of the modified Terms.

13. Governing Law

These Terms shall be governed by the laws of the State of Delaware, without regard to conflict of law principles.

14. Severability

If any provision of these Terms is found unenforceable, the remaining provisions will remain in full force and effect.

15. Entire Agreement

These Terms, together with our Privacy Policy, constitute the entire agreement between you and Cord.

16. Contact

Questions about these Terms should be directed to hello@cord.ai.