PAYZIP SERVICE TERMS AND CONDITIONS

Welcome to our online spending account service (referred to as the "Service"). We provide the Service to you on the following Terms and Conditions.

By clicking on the appropriate button to indicate your acceptance or by paying for the Service, you agree to use the Service consistent with these Terms and Conditions and with all applicable laws and regulations. We may modify these Terms and Conditions from time to time. If we do, we will notify you by posting the amended Terms and Conditions on the Service. Please read these Terms and Conditions carefully. We will not notify you before we terminate your account for violation of these Terms and Conditions. If we terminate your account, we may not reinstate it in our sole discretion.

A. RULES FOR USING THE SERVICE

1. YOUR RESPONSIBILITIES. You are solely responsible for the content of your purchases. You are not permitted to perform purchases using the Service that (a) infringe on any third party's intellectual property or proprietary rights, or rights of publicity or privacy; (b) violate any law, statute, ordinance or regulation; (c) are defamatory, trade libelous, threatening, unlawfully harassing, abusive, pornographic or obscene; (d) any product related to gaming, betting, casino or similar products that offer winnings or payouts.

2. RULES RELATING TO MINORS. If you are under the age of 18 you may not use the Service without the consent of a parent. If you are under the age of 16, you may not use the Service at all. If you are age 18 or older, you warrant to us that you are at least 18 years old, that all information that you submit to us is true and verifiable (including your credit card account information), and you agree to pay all fees, charges, taxes and assessments arising out of your use of the Service.

B. PAYMENT TERMS

1. TERM. The Service is available to purchase products on the Internet on a regular basis beginning on the date that you accept these Terms and Conditions and return the signed contract to us by mail.

We will automatically renew your Service for additional terms (yearly) and charge your credit card account for each successive term unless you provide us with notice of your intent to cancel your account, 10 days in the case of yearly, prior to the end of your term either by email to support@payzip.com or fax to any of the fax numbers listed on our website. No other notices of Service cancellation will be accepted.

2. PAYMENT. Upon placing an order for the Service, you must provide us with a valid credit card account number. You hereby authorize us to charge your credit card account in advance, for the full price of the Service for one term. You acknowledge and agree that we may, in our sole discretion, change the Fee Schedule at any time; provided that we will only apply any changes in the Fee Schedule to your future charges.

3. REFUNDS - OUR CANCELLATION. You will not be entitled to a refund in the event we cancel your account Service for a violation by you of these Terms and Conditions.

4. REFUNDS - NON-USE. Notwithstanding anything to the contrary herein, in no event will you be entitled to a refund of any portion of the Service fees because you have not used the Service. In certain cases where you are unable to use the service due to technical problems your will be entitled to a full refund of the setup fee once you return the Digipass security device and the ATM/Visa card if it has been sent to you.

5. TERMINATION. We, in our sole discretion, may suspend or terminate the Service if you default in your payment. A payment "default" means that your credit card company denies the charge to your credit card account (chargeback). We will provide you with notice of any payment default by email, when possible. You will have five (5) days to cure a payment default updating your credit card account information through our Customer Service at disputes@payzip.com or send a fax to any of the fax numbers listed on our website.

In case of failure to balance your account default, we will use bill collection agencies in your jurisdiction to reclaim that debt.

C. OUR PRIVACY POLICY

1. PRIVACY OF YOUR ACCOUNT. We consider your registration data and the content of all of your messages to be private. Transactions that you perform will be received with your Digital ID and Internet Protocol (IP) address from the location where you perform the transaction. We will not intentionally monitor or disclose any of your transactions or personal data unless we believe in good faith that we are required to do so (i) to enforce these Terms and Conditions, (ii) by law, (iii) to defend us in any action, or (iv) to protect our property. Additionally, you agree to respect the privacy and confidentiality of others. Since privacy is a function of your password and Digipass device, we encourage you to change your password frequently and to not share it with anyone.

2. PRIVACY OF YOUR REGISTRATION DATA. Unless you are in violation of any of the items listed in C1, we will never intentionally monitor or disclose any of your transactions or personal data unless you specifically instruct us to do so.

D. ABOUT YOUR ACCOUNT

1. ALLOWED USE. You acknowledge that only you are authorized to use your account. You agree not to resell the Service and you agree to be fully liable for the use of your account, including any unauthorized use of your account by a third party. You agree to notify us immediately if you become aware of any unauthorized use of your account.

2. ACCOUNT LIMITS. Your account will include a maximum of five thousand (5,000) EUR. We may not process any transactions that are larger than five thousand (5,000) EUR, at our sole discretion.

3. CANCELLING YOUR ACCOUNT. If your account is cancelled for any reason, all transaction data, including your personal details will kept for twelve (12) months dated from cancellation date in order for us to handle any forthcoming disputes. After that period your data will automatically be deleted and unrecoverable and we may, in our sole discretion, close your account if it has been inactive for twelve (12) months.

E. OTHER PROVISIONS

1. PROPRIETARY RIGHTS. We may provide you with content such as text, software, music, sound, photographs, graphics, video or other material which may be protected by copyrights, trademarks, or other intellectual property rights and laws. You may use this material only as expressly authorized by us and you may not copy, transmit or create derivative works of such material without express authorization.

You acknowledge and agree that you may not upload, post, reproduce, or distribute any content on or through the Service that is protected by copyright or other proprietary right of a third party, without obtaining the permission of the owner of such right. Any copyrighted or other proprietary content distributed with the consent of the owner must contain the appropriate copyright or other proprietary rights notice. The unauthorized submission or distribution of copyrighted or other proprietary content is illegal and could subject you to personal liability or criminal prosecution.

2. INDEMNIFICATION. You agree to defend, indemnify and hold us, our parents, subsidiaries, affiliates, officers and employees, harmless from any claim, demand or damage, including reasonable attorneys' fees, caused by or arising out of claims made against us based upon the use of the Service.

3. SURVIVAL OF TERMS AND CONDITIONS. You must adhere to these Terms and Conditions for so long as you are using the Service. The following provisions of these Terms and Conditions will survive any termination: Rules for Using the Service, Our Privacy Policy, Indemnification and Other Provisions.

4. DISCLAIMER OF WARRANTIES. YOU EXPRESSLY AGREE THAT USE OF THE SERVICE IS AT YOUR SOLE RISK. THE SERVICE ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. WE MAY CHANGE THE FEATURES OR FUNCTIONALITY OF THE SERVICE AT ANY TIME, IN OUR SOLE DISCRETION. WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.

WE MAKE NO WARRANTY THAT THE SERVICE WILL MEET YOUR REQUIREMENTS, OR THE SERVICE WILL BE UNINTERRUPTED, TIMELY, SECURE, VIRUS FREE OR ERROR FREE; NOR DO WE MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED THROUGH THE SERVICE OR THAT DEFECTS IN THE SOFTWARE WILL BE CORRECTED.

YOU UNDERSTAND AND AGREE THAT ANY MATERIAL AND/OR DATA DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICE IS DONE AT YOUR OWN DISCRETION AND RISK AND YOU WILL BE SOLEY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEMS OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF SUCH MATERIAL AND/OR DATA.

WE MAKE NO WARRANTY REGARDING ANY GOODS OR SERVICE PURCHASED OR OBTAINED THROUGH THE SERVICE OR ANY TRANSACTIONS ENTERED INTO THROUGH THE SERVICE.

NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, WHICH YOU OBTAIN FROM US OR THROUGH THE SERVICE SHALL CREATE ANY WARRANTY NOT EXPRESSLY MADE HEREIN.

5. LIMITATION OF LIABILITY. WE SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES OR FOR INTERRUPTED COMMUNICATIONS, LOST DATA OR LOST PROFITS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF DAMAGES. Some jurisdictions do not allow the limitation of liability so the foregoing may not apply to you.

YOU ALSO AGREE THAT YOUR SOLE REMEDY UNDER THE TERMS AND CONDITIONS OF THIS AGREEMENT IS CANCELLATION OF YOUR ACCOUNT.

6. MISCELLANEOUS. These Terms and Conditions will be governed by and construed in accordance with the laws of Singapore without giving effect to principles of conflict of laws. If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced. Our failure to act with respect to your breach does not waive our right to act with respect to subsequent or similar breaches. These Terms and Conditions set forth the entire understanding and agreement between you and us. These Terms and Conditions and all documents relating hereto have been drafted and will be interpreted in English.