Terms and conditions

THE FOLLOWING TERMS AND CONDITIONS HAVE BEEN DIVIDED INTO CHAPTERS IN ORDER TO MAKE USERS AWARE OF HOW POLISPAY OPERATES.

CHAPTER I DEFINITIONS

The terms contained within these Terms and Conditions which are written in block capitals are to be interpreted according to the following definitions, these are to apply whether the term appears in its singular or plural form:

POLISPAY”: A software belonging to POLISHOLD S.A.P.I. DE C.V. Consisting of a virtual wallet (“WALLET”) in which cryptocurrency can be deposited, protected, organized, exchanged and transferred. The software contains advanced algorithms which allow for the conversion of cryptocurrency into legal tender. Furthermore, the software allows users to withdraw money from a CARD issued by MasterCard, which acts as a pre-paid card and may be loaded up with money which has previously been converted from cryptocurrency into legal tender.

APPLICATION”: The mobile APPLICATION belonging to POLISPAY and which is compatible with Android, Windows Chrome OS, MacOS, Linux and shortly, with IOS.

VIRTUAL ASSET”: This represents an electronically registered value and may be used by the public as a means of payment for all types of legal transactions. VIRTUAL ASSETS may only be transferred electronically. They may be traded digitally and they may act as: (i) a medium of exchange; (ii) a unit of ACCOUNT; or (iii) any other concept permitted in other jurisdictions.

AVAILABLE CREDIT”: this refers to, at any one time:

ACCOUNT”: A user's account registered with POLISPAY within the APPLICATION in accordance with these Terms and Conditions.

DIGITAL CURRENCY”: A representation of a digital value which is not issued by a central bank or authority, nor is it necessarily linked to a physical currency, but which is accepted by natural or moral persons as a payment method and which can be transferred, saved, or exchanged electronically. DIGITAL CURRENCY does not necessarily correspond to a legal tender or constitute the power to discharge a debt, nor is it guaranteed by any authority.

CARD ISSUER”: The company authorized to issue pre-paid CARDS, including the CARD and program controlled by POLISPAY or the CARD ISSUER, whether jointly or otherwise.

EXCHANGE”: Exchange platforms which offer their USERS a service allowing them to store, send, receive, buy, sell, convert and trade Digital Currencies or certain types of virtual currency, cryptocurrencies and/or other digital assets or derivatives associated with virtual currencies, coins and/or fiat money, at the exchange rate permitted by said platform, however this does not grant USERS the right to export their private keys for cryptocurrency wallets associated with the platform.

TRANSACTION LIMITS” The limit of AVAILABLE CREDIT on the CARDS referred to in these Terms and Conditions.

OPERATIONS”: The OPERATIONS that the USER may carry out with their CARD in accordance with these Terms and Conditions.

POLIS”: The cryptocurrency used in the POLISPAY “WALLET” and applications, which has an equivalent value in legal tender and which may be repeatedly exchanged for real money.

WEBSITE”: The WEBSITE, https://polispay.com owned by POLISPAY.

CARD”: The pre-paid CARD POLISPAY provides its USERS with.

USER”: The natural persons who solicit POLISPAY’s services and who are subject to these Terms and Conditions.

WALLET”: The system which allows USERS to deposit, store, organize, exchange and transfer cryptocurrency.

CHAPTER II ACCEPTANCE OF THE GENERAL TERMS

The following Terms and Conditions regulate the use of the APPLICATION offered by POLISPAY to its clients (the USERS). USERS are hereby obliged to adhere to each and every one of the Terms and Conditions contained herein, without exception.

Upon downloading and registering within the APPLICATION, USERS expressly accept the present Terms and Conditions. These Terms and Conditions constitute a service contract between POLISPAY and the USER, to which both parties mutually agree. The continued use of the APPLICATION will be interpreted as the USER's implied consent with these Terms and Conditions, regardless of whether the USER is required to manifest their consent (including by means of a click). If the USER does not agree to these Terms and Conditions, they must cease to access and suspend their use of the APPLICATION, failure to do so will result in the user being contractually obliged in terms of these Terms and Conditions.

The USER accepts and acknowledges that POLISPAY reserves the right to change these Terms and Conditions at any time. Whenever these Terms and Conditions are updated and a USER continues to use the APPLICATION, this shall be interpreted as the USER’s consent to said updates. If a USER is unable to periodically revise these Terms and Conditions in order to check for updates, the USER assumes the responsibility for not doing so, and accepts that by failing to do so they thereby renounce the right to take out any legal action against POLISPAY in which they contest modifications to these terms.

The USER hereby accepts and acknowledges that POLISPAY may make corrections, additions, improvements or modifications to the content, presentation, information, services, areas, data bases and other elements of the APPLICATION at any time and without the USER's consent, and that therefore the USER shall have no grounds for filing a claim against POLISPAY or demanding any form of compensation. POLISPAY does not acknowledge any responsibility to the USER.

These Terms and Conditions only apply to people and places in which the local laws and authorities do not prohibit the use of Digital Currencies. POLISPAY takes no responsibility for the actions taken by USERS in disregard of this provision and reserves the right to terminate any OPERATIONS with said USERS.

CHAPTER III REGISTERING WITHIN THE APPLICATION

In order to register on the APPLICATION, the USER must create an ACCOUNT by entering their email address and creating a password.

The information the USER enters upon registering must be true and valid.

In addition to the Password created by the USER, the ACCOUNT is protected by a recovery phrase made up of random letters, created by POLISPAY for the USER. This phrase protects the ACCOUNT and allows the USER to recover their ACCOUNT in the event that their APPLICATION is uninstalled or they lose access to their ACCOUNT.

This recovery phrase must be saved by the USER as they will be asked to confirm it later on.

POLISPAY shall not be responsible for the loss of this phrase owing to USER negligence.

CHAPTER IV CARD REGISTRATION

The USER must fill out the form provided to them by POLISPAY with their personal details. The USER must accompany said form with documents which attest to their identity (such as a voter registration card or passport) in order to complete their registration.

USERS must be at least 18 (eighteen) years of age and have the legal capacity necessary to use the CARD (the capacity to enforce and acquire legal rights). If a USER has not yet reached the minimum age, under no circumstances will they be permitted to use the CARD. The USER will bear sole responsibility for registering false details when requesting a CARD. If a USER is under 18 years old, they may send a request to the following email address [email protected] for their legal guardian to open an ACCOUNT in their name.

All the personal details that the USER provides POLISPAY with through the APPLICATION or their WEBSITE are protected under Mexico's Federal Law on the Protection of Personal Data held by Private Parties. Before registering the USER must accept POLISPAY’s Privacy Policy without any vices of consent.

In the event that a Password or ACCOUNT is lost, stolen or misplaced, the process of Password or USERNAME recovery may only be carried out following the steps designated for said process by POLISPAY. The recovery process may only be initiated by the USER and never by POLISPAY.

In order to commence the recovery process, the USER must make POLISPAY aware of their wish to do so through the APPLICATION.

Under no circumstances will POLISPAY assume responsibly for charges made prior to a report of a lost or stolen ACCOUNT, even when said charges have been incurred by a third party.

In the event of a lost or stolen ACCOUNT, the USER must block their CARD through the APPLICATION in order to avoid OPERATIONS being made without their consent, upon the understanding that this does not relieve them of their responsibility to inform POLISPAY of this situation through the APPLICATION.

In any case, any operation that takes place will be considered to have been carried out by the USER, who shall bear sole responsibility for these and who must pay any expenses and/or damages arising from any unauthorized access and/or use of their ACCOUNT prior to its recovery.

In the event that the USER requires a clarification or wishes to file a complaint, they must do so through the APPLICATION. POLISPAY will have a period of 60 (sixty) calendar days to issue the USER with a report, and a period of 120 (one hundred and twenty) calendar days for cases in which clarifications regarding transactions carried about abroad are required.

All the personal details that the USER provides POLISPAY with through the APPLICATION are protected under Mexico's Federal Law on the Protection of Personal Data held by Private Parties. USERS may consult POLISPAY’s Privacy Policy at any time on the APPLICATION.

POLISPAY reserves the right to reject, at its own discretion, any registration request made through the APPLICATION.

CHAPTER V SERVICES.

The APPLICATION allows USERS to manage their Digital Currencies and the OPERATIONS that they carry out with said currency through the creation and administration of one or more WALLETS.

Creation of WALLETS

First of all the USER must download the APPLICATION from any participating virtual store, or from the POLISPAY WEBSITE free of charge.

In order to create the WALLET, the APPLICATION will generate a recovery phrase for the USER made up of random words, meaning that in the event that the WALLET is lost or uninstalled, it may be recovered using said phrase.

Before the USER may finish setting-up their WALLET, they must confirm that they are aware of the following: (i) that Digital Currency is protected by the APPLICATION which the user may access through their device, the latter is to be understood as a cellular phone or computer and not a company; (ii) that Digital Currency may be recovered using the recovery phrase; and (iii) that they must provide their consent so that POLISPAY may send them payment notifications and, if the USER wishes, notifications regarding their WALLET.

Once the USER has created their WALLET, they must confirm the email address to which they would like POLISPAY to send notifications regarding the OPERATIONS they carry out through the APPLICATION.

USERS may set up a WALLET(S) in the following three ways: (i) by creating a new personal WALLET; (ii) by creating a shared WALLET; or (iii) by importing a WALLET they created previously.

CHAPTER VI OPERATIONS THAT MAY BE CARRIED OUT THROUGH THE APPLICATION.

The APPLICATION allows the USER to carry out the following OPERATIONS: (i) To transfer Digital Currency to their POLISPAY WALLET or another WALLET registered on the APPLICATION; (ii) to receive Digital Currency from other WALLETS from within the APPLICATION; (iii) to consult the general balance of their ACCOUNT; (iv) to convert the Digital Currency in their WALLET and (v) to revise the OPERATIONS carried out using their POLISPAY CARD.

CHAPTER VII DIGITAL CURRENCY OPERATIONS

The USER may send and receive Digital Currency by accessing their WALLET in which they will carry out or receive the transfer.

Receiving Digital Currency

In order to receive a transfer the USER must access the QR code scanner under the “Receive” heading, they may use this to scan the QR Code generated for carrying out the transfer, and send the transfer to the WALLET of the USER’s choosing, or they may use the address generated at the bottom part of the QR Code, by entering this into the appropriate field within the WALLET.

Sending Digital Currency

In order to send Digital Currency via the APPLICATION, the USER may do so by heading to the “Send” section which will lead them to a numerical key board which they may use to type the quantity of DIGITAL CURRENCY they wish to send. In the top left hand corner the USER may choose the currency that they wish to make their transfer in, which may be cryptocurrency or a balance which can be converted to legal tender. The USER may then make their transfer.

Reviewing OPERATION history

Upon accessing any of their WALLETS, the USER may view a history of their recent ACCOUNT OPERATIONS on the APPLICATION's interface by clicking on “Activity”. In this section USERS may view both the assets that they have sent from their WALLET and the assets received within their WALLET.

CHAPTER VIII USER OBLIGATIONS

The USER promises to keep their ACCOUNT information accurate, complete and updated.

The USER is responsible for all of their ACCOUNT activity and promises to keep their ACCOUNT USER name and password safe and secure at all times.

Upon registration, the USER may not, under any circumstances, do any of the following: i) use an email address belonging to someone else in order to create their ACCOUNT; ii) choose a USER name which is offensive, vulgar or obscene; iii) choose a USER name which another party has property rights over without said party’s consent; iv) use another USER’s ACCOUNT without their authorization; v) use another USER’s personal information as though it were their own without authorization; or vi) make use of POLISPAY’s WEBSITE or Services for reasons other than those set out in these Terms and Conditions.

The USER is prohibited from carrying out any of the actions listed below among others. In the event the USER fails to comply to with this provision, they shall be subject to any penalties which may be applied to them in terms of the applicable legislation:

CHAPTER IX CANCELLING AN ACCOUNT

 

USERS may cancel their ACCOUNTS at any time, all they have to do is send and email to the following address [email protected] The USER’s email must contain their request for cancellation and their ACCOUNT details (USER name and email address). POLISPAY will cancel the USER’s ACCOUNT within 60 working days following receipt of the cancellation request.

POLISPAY reserves the right to cancel the ACCOUNT of any USER who does not comply with these Terms and Conditions. Likewise, POLISPAY may cancel the ACCOUNT of any USER whose use of the APPLICATION is abusive, is linked to malicious intent, or in bad faith.

POLISPAY reserves the right to prohibit access from any device whose operative system has been, or is suspected of having been, altered in any way, and to cancel any ACCOUNT which it deems suspicious, at its own discretion.

CHAPTER X RISKS

The USER bears sole responsibility for understanding and complying with each and every one of the laws, norms and regulations applicable upon agreeing to these Terms and Conditions or using any of POLISPAY’s Services, including without being limited to, services related to taxes or foreign currency exchanges, as well as information sharing obligations.

A list of a few of the risks which POLISPAY deems important to take into consideration has been provided below:

CHAPTER XI MONEY LAUNDERING.

POLISPAY and the USER accept that OPERATIONS carried out via the APPLICATION involving a sum of money greater than $45,000.00 MXN (forty-five thousand Mexican pesos) per month, will be classified as vulnerable OPERATIONS and therefore will be subject to identification and reports according to Mexico’s Federal Law for the Prevention and Identification of Operations with Illicit Resources.

Upon agreeing to these Terms and Conditions, the USER hereby declares that the funds they will use to carry out their OPERATIONS do not originate from activities related to drug trafficking, terrorism or other illicit activity.

CHAPTER XII PERSONAL DATA AND SECURITY

Upon registering for the APPLICATION, the USER agrees to POLISPAY’s use of their Personal Data according to the terms of the Privacy Policy available on the APPLICATION, which the USER must be aware of and must agree to prior to agreeing to these Terms and Conditions.

CHAPTER XIII UPDATING PERSONAL DATA

The USER must inform POLISPAY via the APPLICATION, as soon as possible, of any change to their name, address, telephone number or email address.

In order to send notifications to the USER, POLISPAY will use the most recent details provided by the USER in the APPLICATION.

CHAPTER XIV LIMITATIONS OF LIABILITY

In so far as the law permits, POLISPAY under no circumstances, shall bear responsibility for direct, special, incidental, indirect or consequential damages, which in anyway originate form, or are related to, any of the following:

What is more, POLISPAY shall not be responsible if a USER is a victim of Phishing, does not take care of their access keys, shares their access keys with third parties, or is guilty of any other form of negligence. Nor does POLISPAY accept responsibility for acts committed by third parties which effect the Internet, the APPLICATION, the WEBSITE, or a USER’s identification documentation, or any other acts of a similar nature. The USER therefore renounces any right or legal recourse that might otherwise correspond to them in the event of acts of this nature.

Furthermore, POLISPAY is to bear no responsibility for any loss or expense incurred by the USER owing to breach of these Terms and Conditions. In the event that the USER does not use the APPLICATION according to the Terms and Conditions, or in the event that POLISPAY discovers by any means that the USER is guilty of fraud, POLISPAY reserves the right to charge the USER for reasonable costs which POLISPAY may incur upon taking actions to prevent the USER from accessing the APPLICATION, and for expenses incurred through the recovery of sums owed to POLISPAY as a result of a USER’s illicit activity.

POLISPAY would like to make the USER aware that neither Mexico’s Federal Government, nor any of its departments may acquire responsibilities for, or guarantee, the resources that USERS may make use of in the OPERATIONS which they carry out with POLISPAY or others. Nor may any government body assume any responsibility for obligations acquired by POLISPAY or the USER in relation to a third party owing to the OPERATIONS they may carry out.

CHAPTER XV COPYRIGHT AND INDUSTRIAL PROPERTY

POLISPAY, its logos, and all features of the APPLICATION, are trademarks, domain names and commercial names which belong to POLISPAY, and which are protected by international agreements, as well as federal and local copyright and industrial property laws. Copyrights over the APPLICATION’s content, organization and collection of information, logos, photographs, images, videos, programs, applications, or in general, any information contained or published within the APPLICATION, are duly protected under the applicable legislation relating to industrial property and copyright law.

USERS, and all other individuals, are expressly prohibited from modifying, altering or deleting, either totally or partially, any notifications, trademarks, commercial names, signs, adverts, logos, or in general, any feature relating to information owned by POLISPAY contained within their WEBSITE and/or the APPLICATION.

CHAPTER XVI CHANGES TO THE APPLICATION

POLISPAY may make corrections, additions, improvements or modifications to the content, presentation, information, services, areas, data bases and other elements of the APPLICATION at any time and without the USER's consent, the USER therefore shall have no grounds for filing a claim against POLISPAY or demanding any form of compensation.

CHAPTER XVII USE OF COOKIES

The APPLICATION makes use of cookies, this allows POLISPAY to distinguish each of their USERS and therefore offer them an improved experience when they seek out the APPLICATION online. Upon agreeing to these Terms and Conditions, the USER agrees to POLISPAY’s use of cookies according to these Terms and Conditions.

CHAPTER XVIII CHANGES TO THESE TERMS AND CONDITIONS

POLISPAY may make changes to these Terms and Conditions whenever they deem necessary. The USER will be notified of any changes either via the WEBSITE or the APPLICATION. However, it is the USER’s responsibility to continually revise the Terms and Conditions in order to keep themselves informed of any changes or modifications thereof.

CHAPTER XIX INDEMNITY

The USER hereby agrees to defend, indemnify and hold POLISPAY, its associates, workers, directors, providers, allies and other collaborators, harmless from and against any claim, law suit, costs or expenses (including lawyer fees) which may arise from breach of these Terms and Conditions.

CHAPTER XX VALIDITY AND TERMINATION

These Terms and Conditions are to be valid for an indefinite period, however any party may choose to terminate them at any moment.

The USER may request the termination of these Terms and Conditions at any time by sending a termination request to the following email address, [email protected] Once these Terms and Conditions have been terminated, the USER’s ACCOUNT will be canceled, provided they do not hay any payments pending. In the event that the USER has Balance Available, it is the USER’s responsibility to carry out any OPERATIONS necessary, given that POLISPAY may not, under any circumstances, return cash to the USER following the termination of these Terms and Conditions.

CHAPTER XXI ASSIGNMENT

The USER may not assign, or in any way negotiate, their rights and obligations under these Terms and Conditions.

POLISPAY however, may assign, either totally or partially, their rights under these Terms and Conditions whenever they deem necessary.

CHAPTER XXII ENTIRE AGREEMENT

These Terms and Conditions contain the whole agreement between the Parties with regard to the APPLICATION with which POLISPAY provides its USERS, and cancels any previous agreements, negotiations, pacts, documents, letters, quotes and/or correspondence regarding the APPLICATION.

CHAPTER XXIII APPLICABLE LEGISLATION AND JURISDICTION

These Terms and Conditions are to comply with, and be interpreted according to, the federal laws of the United Mexican States, including in cases of conflict of laws. Any legal proceeding arising from, or related to, these Terms and Conditions is to be settled in the competent courts of Mexico City, Mexico. The USER hereby waives their right to any other jurisdiction that may apply to them by reason of their present or future address.