Ongoing Service Levels Clause Samples

Ongoing Service Levels. In providing the Services, including but not exclusively via the Platform, Candex maintains the following service level targets: # Task Description Target 1 Sanctions screening Seller company name scanned prior to order acceptance (where applicable), billing entity and beneficial owners (where applicable) scanned prior to invoicing. Each scanned name is monitored daily after the initial scan. 100% 2 Speed issuing payment Provided Candex has all required information (including completion of applicable Seller verification), payment issued to Seller within three (3) business days of receipt of funds from Customer or Customer’s financial partner(s), as applicable. 100% 3 Business Reviews Senior Customer Success leaders will offer Quarterly Business Reviews with Customer to review Customer-selected KPI's and collaborate on continuous improvement of the Services 4 /year 4 Platform uptime Platform available with full functionality for access and use by Customer Users. 99.5% 5 Incident Management Severity Ratings: Severity 1 Production use of the Platform is stopped or so severely impacted that it is not functional and all users are affected. Severity 2 Material Platform features are unavailable with no acceptable workaround, but certain features continue to work and/or the Platform remains available in some but not all areas. Severity 3 Material Platform features are unavailable, but there is a readily available workaround. Minimal impact on users. Severity 4 Requests for information or enhancements, cosmetic software defects, requests for documentation or clarification regarding the Platform. No impact on the operation of the Platform. Defects Resolution Matrix Defects resolution will be handled by Candex according to the following matrix: Severity Code Response Resolve Status Reporting Severity 1 4 hours 24 hours daily Severity 2 4 hours 48 hours daily Severity 3 48 hours 2 weeks weekly Severity 4 48 hours Based on business impact and prioritization bi-weekly