Kunstrux Terms of Use / User Terms of Service

Introduction

Who we are.

This technology is provided to you by:

This is a legal contract.

These Kunstrux Terms of Use / User Terms of Service (the “Terms”) govern your use of Kunstrux mobile phone-based technology products and services (collectively, the “Products”) offered by us to you for your use. By downloading, installing, and/or using the Products you agree to be bound by these Terms, the Kunstrux ESign Consent, the Kunstrux Acceptable Use Policy, and any and all other terms and policies which may apply to separate Company products and/or services.

Our Products are for Commercial (business) use only.

You acknowledge and agree that Kunstrux Products are commercial in nature, and are not intended to be used for personal, family, or household purposes. You represent and warrant to us that you will only use the Products on behalf of a business or entity; you further represent and warrant to us that you have authority to bind such business or entity and that such business or entity accepts these terms. By continuing you agree that the foregoing is a material inducement for us to offer the Products for your use.

Eligibility Requirements

You must be a resident of the United States, at least 18 years and the age of majority in your state of residence, and you must register for an account (your “Account") on behalf of your business or commercial enterprise to use the Products. Certain features of the of the Products will only be available for use in the United States. Some features, such as the ability to send funds to another Kunstrux User or use an associated payment device (“Device”), may be available only if you provide us with certain information about you and we are able to verify your identity, and will be subject to you agreeing to certain additional terms.

Your Account with us

You represent and warrant that you own the email or mobile phone number you use to register the Products for use (creating an “Account”) and all the information you entered, or that we collected, during the registration process, as well as any information you subsequently add or update from your settings (collectively, “Account Information”), is true and accurate. You agree that should any information become untrue or inaccurate at any time following registration, you will promptly and truthfully and accurately update such information.

To register, open, use, or upgrade an Account, the Company may require that you submit certain Account Information, which may include (but is not limited to): your name, email address, text-enabled mobile phone number, street address, zip code, date of birth, social security number/taxpayer identification number (TIN), and a government-issued form of identification.

When you first open your Account, it will be a “Restricted Account.” A Restricted Account has all the features and functionality described in these Terms except that you cannot make a payment or transfer funds (any kind of “Transaction”) to another Kunstrux customer. If you have a Restricted Account and you attempt to make a payment or transfer funds to another Kunstrux customer, then you will be given the option of upgrading your Account to an “Unrestricted Account”. To upgrade your Account, you will need to provide us with certain personal information so that we can verify your identity. After we verify your identity, your Account will convert to an Unrestricted Account. If you decline to provide us with the information that we request or if we cannot verify your identity to our satisfaction (in our sole judgment and discretion) for any reason, then your Account will remain a Restricted Account and you will not be able to use the Kunstrux Products to make payments or transfer funds to other users.

The first time you access your Account using a new device we may require you to authenticate your Account with additional information. If your Account cannot be verified you may be required to set up a new Account.

Validating and Authenticating your Identity

You hereby authorize the Company, directly or through third parties, to make any inquiries we consider necessary to validate your identity or authenticate your identity and Account Information, your company,or employer. This may include asking you for further information or documentation about your Account usage or identity, requiring you to take steps to confirm ownership of your email address, mobile phone number or financial instruments, or verifying your information against third party databases or through other sources.

In connection with your use of the Kunstrux Products, you may not refuse to (a) cooperate in an investigation concerning activity that potentially violates the law or the Terms, (b) provide confirmation of your identity, or (c) provide confirmation of any information you provide us.

Adding a Payment Method and Bank Account

With an Unrestricted Account you may link an external, U.S.-issued bank account (an “Eligible Bank Account”) (subject to these Terms of Service) to make a payment to another Kunstrux user, receive a payment from another Kunstrux user, and you may transfer funds to your Eligible Bank Account. To link an Eligible Bank Account you will need to provide us your bank-issued account number and the bank routing number. Funds transferred to and from your Eligible Bank Account will be settled by an applicable Kunstrux banking partner (“Partner Bank”) using the Automated Clearing House (“ACH”) Network governed by Nacha.

With an Unrestricted Account you can link a U.S.-issued card account payment device (credit or debit card) (a “Payment Method”). To do so, you must have a valid debit or credit card issued by a U.S. bank or financial institution bearing the Visa Inc. (“Visa”), MasterCard International Inc. (“MasterCard”), or DFS Services, LLC (“Discover”) logo. We may also offer issuance of a Payment Method to you from a banking partner, subject to other terms, conditions, and agreements.

Limitations

We may limit your Transactions in our absolute sole discretion. This may include the number, size, type, frequency, sender, and recipient of any particular Transaction. Transactions are only permitted with Unrestricted Accounts that have a linked Eligible Bank Account and a linked Payment Method.

Treatment of Funds

We are an independent contractor for all purposes, except that we act as your limited agent with respect to the custody and transfer of your funds in accordance with the instructions you provide via our Product.

User-to-User Services

With an Unrestricted Account and a linked bank account and/or Payment Method, you can send funds to or receive funds from other Kunstrux Users (the “User-to-User Service”) for commercial, non-personal purposes. We or an applicable bank partner may limit in our or its sole discretion the amounts, timing, senders, and recipient Users of the User-to-User Service with or without notice to such Users.

By initiating each payment instruction (a “Payment Instruction”) you authorize us or any applicable bank partner to debit or credit (as applicable) your linked Eligible Bank Account that is linked to your Account at the time of the payment instruction by the amount you specify and to send those funds to your designated recipient immediately upon your request. You may have to agree to further agreements or terms and conditions provided by a bank partner (“Bank Terms”) prior to using the User-to-User Services to send or receive funds. Each Payment Instruction may be subject to additional authorization by you prior to submission and shall be subject to and in accordance with any applicable Bank Terms.

Subject to different or specific Bank Terms, you agree that neither we nor any applicable bank partner shall be liable for any failure of the User-to-User Services to function as intended or for funds to be sent or received as intended by any User.

Miscellaneous Legal Terms

Compliance with Laws

You agree that you shall at all times comply with the law, including Nacha rules and the laws governing your business (collectively, “Laws”) and as required by applicable Bank Terms.

Taxes

You agree that you shall at all times be and remain responsible for any and all taxes applicable to your business and to your use of our Products. You shall also provide, at our request (which may be made inApp or otherwise using our Products), certain information we determine in our sole discretion necessary or advisable for us to comply with our obligations under Laws, including the U.S. Internal Revenue Code and Treasury Regulations and our Anti-Money Laundering and Bank Secrecy Act obligations.

By your acceptance of these Terms you certify that your use of our Products to send or receive payment(s) is to send or receive payment(s) that are “reportable payment transactions” as defined in Treas. Reg. § 1.6050W–1(a)(3) and the associated applicable state and local regulations, including, but not limited to, the payments for goods and services.

Disclaimer of Warranties and Limitation of Liability

You agree that the Disclaimer of Warranties (Sec. 10), Limitation of Liability (Sec. 11), and Indemnification (Sec. 12) provisions of the Kunstrux Mobile-Application End-User Agreement shall apply to all Products and to these Terms as though those sections were written here in their entirety.

Governing Law

These Terms and any dispute between you and us related to these Terms or to any Product shall be governed by the laws of the state of Texas and/or applicable federal law, without regard to any conflicts of law or choice of law principles or provisions of either.

[End of Terms]