FinHub Service Level Agreement – BaaS
1. During provision of the provided services, FinHub undertakes to provide Client with the maintenance services (maintenance and support) of the Software. The services are necessary to ensure proper operation of the Software.
2. The maintenance services of the Software include the following:
- 2.1 Monitoring of the Software operations, operating systems, databases and network.
- 2.2 Incidents registration and resolution, including cooperation with the third parties providing hardware and software for service of the Software.
- 2.3 Recovery of Software functionality.
- 2.4 Fixing Software errors and defects.
- 2.5 Software version upgrades, including operational systems and databases.
- 2.6 Maintenance of software used in the provided services.
- 2.7 Administration of the Software, system configuration, parameters, settings, access rights, execution of periodic tasks and monitoring of processes.
- 2.8 Monitoring and management of data exchange with other third parties.
- 2.9 Backup of databases and recovery.
- 2.10 Consultation of Client’s employees.
3. The services are provided only for the software that is provided to the respective Client as a service according to the Agreement with FinHub.
4. FinHub is not responsible for the failures of the hardware functioning such as break/failure of the internet connection between the Client and the data center used for provision of services and similar circumstances that are beyond the FinHub’s control, or for the errors of the system software functioning at the Client’s workplaces, except the cases when such errors incur due to the fault of FinHub.
5. Failure is a situation when during operation of the software and its usage, one or several occurrences happens: (i) the software or its separate module stops operating or provides an incorrect result; or (ii) operation of the software does not confirm to the functions that are described in documentation of the software. Failures, based on their severity, are divided into the following levels, and in the respective Service Level/Availability/Runtime and Reaction time in case of incident:
| Nr. | Description of the Service Level | Service Level / Availability / Runtime | Reaction Time in Case of Injury |
|---|---|---|---|
| 1. | Operational workflows – the duty and work schedule define the working calendar, daily operational procedures, obligations as well as shutdown and processing times. This is the basis for all work that must be performed between CORE X – SPP and CORNER – STONES. |
The Service levels are linked to service level explained in the duties, and redefined on an ongoing basis and as agreed between the Parties and considering the progressive stabilization of the workload and transmission processes | As agreed between the Parties |
| 2. | Difficulty – Reaction Time General Customer Service, Comparisons & Reporting, Phone & Email – Level 2 and Level 3 Support. Note: The following definitions apply only where the unavailability or a reduction in the processing is within the responsibility of the Service Provider. Or to its infrastructure. | Loss of damage l Critical:
Extent of damage 3 Average:
| 60 minutes after the fault has been detected, FinHub must notify the client for the first time and update it within 120 minutes or as agreed Client must be informed of the cause and the service plan. Appropriate periods for solving the problem (temporary or permanent solution) are mutually agreed by all Parties at the time of the incident and is dependent on nature and relevance. The Service Provider shall supply the Client with information until the incident resolves. With response time of 4 hours there will be one update of the client per day. 100% of requests will be answered within 24 hours. The Service Provider shall provide appropriate technical solutions during the incident. 100% of the requests will be processed within two business days after receipt The Service Provider provides appropriate technical responses during business hours > 8am – 5 pm (or as tested in accordance with operational necessity), except Monday to Friday (EET) are Bulgarian holidays. 100% of the requests will be answered three business days after receipt. |
| 3 | System failure: FinHub will not make any system modifications that will lead to a planned system failure without prior notification of five business days. All system failures, including those of the authorization system, are only carried out at the planned downtime, as part of the scheduled maintenance. | 100% | N/A |
| 1. | System Availability: Access to the CORE X front-end system web interface (with the exception of planned maintenance within the scope of Service Level 3). | 99.5% | < 1hr |
| 2. | Availability of the authorization system: Will be available 24 hours a day on any calendar day of the year (except for planned service level 3 maintenance). | N/A | N/A |
6. The Client, having determined the failure, shall try to follow instructions of FinHub to find the causes of failure, to eliminate the failure or to find a workaround. Having taken all measures to eliminate the failure and being rationally sure that there is no possibility of eliminating the failure or applying a workaround, the Client must notify FinHub immediately about determined failures
7. If the Client notices the failure, the Client must immediately notify the Service Provider about the failure by:
- 7.1 Registering a ticket on the failure on support@finhub.cloud.
- 7.2 Providing the failure level as described in Clause 5 of this Service Level Agreement
- 7.3 Providing the actions carried out before the failure occurred
- 7.4 Providing the results obtained during the failure compared to the expected result
- 7.5 Providing actions performed by the Client to eliminate the failure or to find a workaround.
- 7.6 Providing information that the Client deems important.
8. For all the failures which are not registered, FinHub cannot ensure agreed terms of failures resolution as described in this Service Level Agreement.
9. FinHub, having received from the Client a notice about the failure, will evaluate the level of failure severity and depending based on severity level, shall exercise all reasonable efforts to eliminate the failure. FinHub will submit a response to the Client’s notice informing him about the evaluated level of severity of the failure and continue work on eliminating the failure over the time indicated in this Service Level Agreement, unless the Parties mutually agree on longer or shorter periods.
10. FinHub may eliminate the failure by the following means: (i) providing the Client with a solution that allows avoiding the failure, or (ii) providing the Client with the written instructions on how to avoid the failure, or (iii) performing necessary amendments to the Software at its own discretion, or (iv) referring the Client to an updated version of the software that fixes the particular problem.
11. FinHub has the right to demand the Client to create conditions for diagnosing the failure at the Client’s premises. In such cases, FinHub has the right to demand reimbursement of the travel time costs of responsible FinHub’s employees according to the tariffs specified by the FinHub. FinHub has the right to demand reimbursement of travel time costs of responsible FinHub’s employees according to the tariffs specified by the FinHub only if the failure was caused by Client actions/side.
12. The Parties agree that the contact person who was notified about the failure will be considered responsible for proper cooperation with the FinHub during the elimination of the failure, as well as for submitting all the necessary information about the failure to FinHub. The Client may indicate another person who will be responsible for proper cooperation with FinHub during the elimination of the failure, as well as submitting all the necessary information about the failure to FinHub.
13. The contact addresses of the specific FinHub’s contracting party are the following:
| Company | Contracting Party’s Address | Region |
|---|---|---|
| FINHUB EAD UIC 206306842 | 16 Usta Kolyu Ficheto str., Western industrial zone, 9000 Varna, Bulgaria | Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, Montenegro, Poland, Republic of Moldova, Romania, Serbia, Slovakia, Slovenia, The Republic of North Macedonia, Ukraine |
| FINHUB D-A-CH GmbH District Court of FrankfurtHRB 122210; District Court of Mannheim HRB 731980 | Zeil 109, 60313 Frankfurt am Main, Germany District Court of Frankfurt HRB 122210; District Court of Mannheim HRB 731980 | Andorra, Austria, Belgium, France, Germany, Italy, Liechtenstein, Luxembourg, Malta, Monaco, Netherlands, Portugal, San Marino, Spain, Switzerland |
| FINHUB USA LLC UIC4960956 | 16192 Coastal Highway, Lewes, Delaware 19958, United States | Antigua and Barbuda, Argentina, Bahamas, Barbados, Belize, Plurinational State of Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Cuba, Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, United States of America, Uruguay, Venezuela |
| FINHUB TECH UK LTD UIC 12968265 | The Innovation Centre, Boundary Road, Colchester, Essex, England, CO4 3ZQ | Denmark, Finland, Iceland, Ireland, Norway, Sweden, the United Kingdom |
| FINHUB MIDDLE EAST AND AFRICA TEKNOLOJI TICARET ANONIM SIRKETI Register Number 283063- | GÜZELTEPE MAH.ÇANAKÇI SK. NO:2 İÇ KAPI /DOOR NO:4 ÜSKÜDAR, Turkey Register Number 283063 | Algeria, Angola, Armenia, Azerbaijan, Bahrain, Benin, Botswana, Burkina Faso, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Comoros, Congo, Côte d’Ivoire, Democratic Republic of the Congo, Djibouti, Egypt, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Gabon, Gambia, Georgia, Ghana, Guinea, Guinea-Bissau, Iraq, Israel, Jordan, Kenya, Kuwait, Lebanon, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Oman, Qatar, Rwanda, Sao Tome and Principe, Saudi Arabia, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Syria, Togo, Tunisia, Türkiye, Uganda, United Arab Emirates, United Republic of Tanzania, Yemen, Zambia, Zimbabwe |
| FinHub APAC PTE. Ltd. UEN 202339230H | 160 ROBINSON ROAD, #14-04, SINGAPORE (068914) UEN 202339230H | Afghanistan, Australia, Bangladesh, Bhutan, Brunei, Cambodia, China, Cook Islands, Fiji, India, Indonesia, Japan, Kazakhstan, Kiribati, Kyrgyzstan, Lao People’s Democratic Republic, Malaysia, Maldives, Marshall Islands, Federated States of Micronesia, Mongolia, Nauru, Nepal, New Zealand, Niue, Pakistan, Palau, Papua New Guinea, Philippines, Republic of Korea, Samoa, Singapore, Solomon Islands, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Tonga, Turkmenistan, Tuvalu, Uzbekistan, Vanuatu, Vietnam |
15. In case the service levels indicated above are breached FinHub should take measures to prevent such service level breaches in the future. The Service Provider should inform the Client about the measures taken on a case-by-case basis
16. Additional services related to the maintenance services of the software provided by FinHub are ordered on Client’s request by concluding a separate written agreement:
- 16.1 Preparation of the information on request of Client’s employees and Governmental institutions.
- 16.2 Data export to external data media before termination of the Agreemen
- 16.3 Data import to the Software.
- 16.4 Representation of the Client against third parties in relation to operation, technologies and project implementation issues.