Last Updated: February 9th, 2017
PLEASE READ THESE TERMS OF USE CAREFULLY. YOU AGREE TO BE BOUND BY THESE TERMS OF USE AND ALL TERMS INCORPORATED BY REFERENCE. BY AGREEING TO THESE TERMS OF USE YOU ACKNOWLEDGE AND CONFIRM THAT YOU WILL COMPLY WITH ALL APPLICABLE LAWS AND REGULATIONS AND THAT YOU HAVE SOUGHT YOUR OWN THIRD PARTY COUNSEL AND GUIDANCE REGARDING ANY POTENTIALLY APPLICABLE REGULATIONS, LICENSES, OR REGISTRATIONS THAT MAY BE REQUIRED IN PROVIDING THE INDIVIDUAL TELLER SERVICES DESCRIBED HEREIN.
Scope. These are the Terms of Use of Plutus Financial Inc. for Individual Tellers providing Individual Teller Services (as defined below) through Abra. Plutus Financial Inc. is referred to in these Terms as “Abra”, “we” or “us”. Individual Teller Services are offered via Individual Tellers only. We define an Individual Teller as an entity such as an individual, small business owner, retailer or other merchant that through Abra’s software purchases, owns, and sells digital currency directly to Abra Users (“Individual Teller”). Individual Tellers must be an Abra Users who have already accepted the Abra Terms of Use. Items not mentioned in these Terms shall be governed by the Abra Terms of Use. Definitions capitalized but not defined herein have the same meaning as accorded to them in the Abra Terms of Use. If you do not agree to these Terms, you may not provide Individual Teller Services.
Changes to These Terms. Abra may modify these Terms at any time for any reason, including, but not limited to, changes to Abra’s software or technology. If we do, we will provide notice of such changes by posting the updated Terms to https://www.goabra.com/terms-of-service/tellers/ and changing the “Last Updated” date above. Any amended Terms will become effective no earlier than 5 days after they are posted to this Internet address and apply to the provision of the Individual Teller Services after such changes become effective, except that changes addressing new functions of the Abra software used to provide Individual Teller Services or changes made for legal reasons will be effective immediately. Your continued provision of the Individual Teller Services through Abra following the effective date of such changes will constitute your acceptance of the updated Terms of Use in their entirety. If you do not agree to any amended Terms, you must discontinue providing the Individual Teller Services. When making substantial changes that materially supplement, alter or modify your rights and obligations, Abra will post such changes with at least 15 calendar days’ notice.
Individual Teller Services. If Individual Tellers are eligible, Abra provides them with a software platform to connect individuals and entities to engage in real-world transactions using digital currencies, specifically to convert digital currencies into fiat currencies and vice versa. An Individual Teller transaction typically includes the buy and sell of bitcoins for cash via Individual Tellers who will sell bitcoins and buy back bitcoins which are transferred directly into and out of an Abra User’s Abra Wallet at the time of purchase and sale (all of the foregoing together the “Individual Teller Services”). Abra offers the platform services either through the Abra app, the Abra websites or any other user interaction. For sake of clarity these transactions (exchanges of fiat currency for digital currency and vice versa) are between the Individual Teller and the Abra User only; Abra is in no way a party to any financial transaction (aka the contract between the buyer and seller of the digital currency) but a provider of a software platform only. The Abra application and services are intended to be used to facilitate buyers and sellers of digital currency to connect and exchange directly with each other. Our Individual Teller Services may evolve over time. This means we may make changes, replace, or discontinue (temporarily or permanently) our Services at any time for any reason with or without notice. In this case, you may be prevented from accessing or using our Individual Teller Services. Abra reserves the right to permanently discontinue our Individual Teller Services.
Eligibility, Application. You are eligible to provide the Individual Teller Services using Abra if you have successfully applied for and been accepted by Abra to provide the Individual Teller Services via the Abra software. Applications are made online. During application you will have to provide Abra with certain data requested during onboarding. Abra may, in its sole discretion accept or deny the application or generally deny anyone the ability to provide the Individual Teller Services later on by removing Individual Tellers from the Individual Teller Services. Individual Tellers have, in this respect, no claim or right to the Individual Teller Services. To be eligible for the Individual Teller Services you must be an individual Abra user for the Abra Services. You can provide Individual Teller Services only if you can lawfully enter into an agreement to these Terms under applicable law. You must be an Abra User in good standing to be able to use the Individual Teller Services and you must be 18 years or older when using our Individual Teller Services. If you provide Individual Teller Services, you agree to do so in compliance with these Terms and with applicable laws and regulations.
Abra’s role. Abra acts as a software provider, only providing software enabling individual to provide the Individual Teller Services described above. Abra provides the Individual Teller with software through which Individual Tellers can use the Abra Wallet in connection with the Individual Teller Services. Abra is never the seller or acquirer of digital currencies. You are solely responsible for determining whether any contemplated transaction is correct and appropriate. Lastly, Abra is facilitating payments via its software only and not a party to the buying and/or selling of digital currencies. You, the Individual Teler fully indemnify Abra against any and all liability for the aforementioned digital currency transactions.
Our Privacy Policy. Our Privacy Policy is located here. By providing the Individual Teller Services, you automatically agree to our Privacy Policy. You also expressly acknowledge and agree that Abra may share data related to an Individual Teller transaction with credit bureaus and/or identity verification agencies, regulators or governmental agencies if Abra is required to do so by applicable law or with third parties if applicable law and/or user consent allows such transfers. We may disclose to Abra Users that you are an Individual Teller for Abra Services and show your logo and information, including your location, in the Abra App. You hereby expressly consent to this provision.
Fees. The following fees apply to the provision of the Individual Teller Services:
For each transaction initiated in the Abra Network through the Individual Teller, Abra is entitled to fees in the amount of 20% of the total fees that the Individual Teller charges its customers on any given transaction (the “Fee”). Abra may charge and deduct any applicable Fees directly from the Abra User or the Individual Teller, at Abra’s sole discretion.
Ownership of Intellectual Property Rights. We retain all right, title, and interest (including all copyright, trademark, patent, trade secrets, and all other intellectual property rights) in our Individual Teller Services and all content on our Individual Teller Services, including our trademarks, service marks, designs, logos, URLs, and trade names that are displayed on our Individual Teller Service. We hereby grant you a limited, nonexclusive, and non-sublicensable license to access and use any material provided to you by Abra in connection with the Individual Teller Services for your personal or internal business use. Such license is subject to these Terms and does not permit any resale of such materials; modifying or otherwise making any derivative uses of the material, or any portion thereof; or any use of the material other than for their intended purposes. The license granted under this Section will automatically terminate if we suspend or terminate your access to the Individual Teller Services. We will own exclusive rights, including all intellectual property rights, to any feedback, suggestions, ideas or other information or materials regarding Abra or our Individual Teller Services that you provide, whether by email, posting through our Individual Teller Services or otherwise, which we refer to in these Terms as Feedback. Any Feedback you submit is non-confidential and will become the sole property of Abra. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You may not use, copy or retransmit anything on our website without our permission. We reserve all rights not expressly granted herein.
Disclaimer of Warranties. OUR INDIVIDUAL TELLER SERVICES ARE PROVIDED “AS IS” WITH NO WARRANTY OF ANY KIND. Your use of our Individual Teller Services is at your sole risk. We and our licensors, service providers or subcontractors (if any) make no representations or warranties about the suitability of the information, software, products and Individual Teller Services contained in our Individual Teller Services for any purpose or their compliance with any accounting rules, principles or laws, and expressly disclaim any representation or warranty that the Individual Teller Services will be free from errors, viruses or other harmful components, that communications to or from the Individual Teller Services will be secure and not intercepted, that the Individual Teller Services and other capabilities offered from the Individual Teller Services will be uninterrupted, or that their content will be accurate, complete or timely. EXCEPT AS EXPRESSLY STATED IN THESE TERMS, WE DISCLAIM ALL WARRANTIES AND CONDITIONS, EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE. YOU ACKNOWLEDGE THAT YOU HAVE NOT ENTERED INTO THIS AGREEMENT IN RELIANCE UPON ANY WARRANTY OR REPRESENTATION EXCEPT THOSE SPECIFICALLY SET FORTH IN THESE TERMS. Some jurisdictions do not allow the disclaimer of implied terms in contracts with consumers, so some or all of the disclaimers in this section may not apply to you.
Indemnification. You agree to indemnify, defend and hold us, our employees, agents, consultants, subsidiaries, partners, affiliates, and licensors, harmless against any and all claims, costs, losses, damages, liabilities, judgments and expenses (including reasonable fees of attorneys and other professionals) arising from or in any way related to your use of our Individual Teller Services, your violation of these Terms, or your violation of any rights of any other person or entity.
Limitation of Liability. IN NO EVENT WILL WE, OUR LICENSORS, SERVICE PROVIDERS OR SUBCONTRACTORS (IF ANY) BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOST PROFITS, LOSS OF USE, LOSS OF DATA OR LOSS OF GOODWILL), ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OF USE, OR THE PERFORMANCE OR OPERATION OF OUR INDIVIDUAL TELLER SERVICES, YOUR ACCESS TO, DISPLAY OF, USE OF THE INDIVIDUAL TELLER SERVICES, OR WITH DELAY OR INABILITY TO ACCESS, DISPLAY OR USE THE INDIVIDUAL TELLER SERVICES, ANY COMPUTER VIRUSES, INFORMATION, SOFTWARE, LINKED SITES, PRODUCTS OR INDIVIDUAL TELLER SERVICES OBTAINED THROUGH THE INDIVIDUAL TELLER SERVICES, OR THE ACT OR OMISSION OF ANY BUSINESS USING OUR INDIVIDUAL TELLER SERVICES OR OTHER THIRD PARTY, WHETHER SUCH LIABILITY ARISES FROM ANY CLAIM BASED UPON BREACH OF CONTRACT, BREACH OF WARRANTY, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR OTHERWISE, AND WHETHER OR NOT WE, OUR LICENSORS, SERVICE PROVIDERS OR SUBCONTRACTORS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. In no event will the aggregate liability of Abra, our licensors, service providers, or subcontractors for any loss or damage that arises out of, or is connected with, any of the occurrences described above exceed, the greater of one hundred US dollars ($100) or the service fees that you paid to us for the service we provide through the Individual Teller Services during the month during which the incident occurred. The limitation of liability reflects the allocation of risk between the parties. The limitations specified in this section will survive and apply even if any limited remedy specified in these Terms is found to have failed of its essential purpose. The limitations of liability provided in these Terms inure to the benefit of us, our licensors, service providers and subcontractors. FOR THE AVOIDANCE OF DOUBT, THE LIMITATIONS OF LIABILITY DESCRIBED IN THIS SECTION WOULD NOT LIMIT THE AMOUNTS OTHERWISE PAYABLE TO YOU BY ABRA AS A RESULT OF SUCCESSFUL VAULT INSURANCE CLAIMS PAID OUT BY ABRA’S INSURER AND RECEIVED BY ABRA. SOME JURISDICTIONS DO NOT ALLOW CERTAIN WARRANTY DISCLAIMERS OR LIMITATIONS ON LIABILITY. ONLY DISCLAIMERS OR LIMITATIONS THAT ARE LAWFUL IN THE APPLICABLE JURISDICTION WILL APPLY TO YOU AND OUR LIABILITY WILL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.
Severability. If for any reason a court of competent jurisdiction finds any provision of these Terms invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect.
Arbitration and Governing Law. PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH US AND IT LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF. You and Abra agree to arbitrate any dispute arising from these Terms or your use of our Individual Teller Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets, or patents. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL. You and Abra agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Abra shall be sent to [email protected]. You and Abra further agree: (a) to attempt informal resolution prior to any demand for arbitration; (b) that any arbitration will occur in Santa Clara County, California, United States of America; (c) that arbitration will be conducted confidentially by a single arbitrator in accordance with California laws and regulations; and (d) that the courts in Santa Clara County have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws of California, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction. WHETHER THE DISPUTE IS HEARD IN ARBITRATION OR IN COURT, YOU AND ABRA WILL NOT COMMENCE AGAINST THE OTHER A CLASS ACTION, CLASS ARBITRATION OR REPRESENTATIVE ACTION OR PROCEEDING.
Limitations. To the extent allowed by applicable law, you agree that you will bring any claim or cause of action arising from or relating to your access or use of our Individual Teller Services within two years from the date on which such claim or action arose or accrued or such claim or cause of action will be irrevocably waived.
Assignment; Entire Agreement. Abra may assign these Terms to its affiliate or subsidiary, or in connection with a merger, consolidation, or sale or other disposition of all or substantially all of its assets. These Terms, together with any other agreements that apply to you, constitute the entire and exclusive agreement between us and you regarding its subject matter, and supersede and replace any previous or contemporaneous written or oral contract, warranty, representation or understanding regarding its subject matter.
Contact Us. If any concerns or questions, please contact us at [email protected].
© 2017 Plutus Financial Inc.
