Terms and conditions
Last Updated: October 2nd, 2023
1. User Agreement
1.1. Acceptance of Terms
By using the Skopa products and services through our website or mobile app (the "Platform"), you agree to be bound by these Terms and Conditions. Please read them carefully. If you do not agree with any of these terms, refrain from accessing the Platform or using the Services, and discontinue any ongoing use immediately. These Terms constitute a legally binding contract between you ("User" or "Users") and Skopa Innovation LLC ("Skopa," "Company," "we," or "us").
1.2. Legal Capacity
By accessing and using the Platform, you declare and confirm that:
a) You have thoroughly read, understood, and accepted these Terms along with our Privacy Policy.
b) You are of the legal age and possess the capacity to accept and be legally bound by this agreement.
c) If you are acting on behalf of a corporation, partnership, or any other legally incorporated entity, you confirm that you have the authority to enter into this agreement and be bound by its terms on behalf of that entity.
1.3. Electronic Signature
By accepting these terms and conditions, you acknowledge that your registration constitutes an electronic signature under U.S. Federal Law, and you agree to be bound by these Terms.
1.4. Supplemental Agreements
If you qualify to participate in specific Skopa products or services, we may require you to enter into supplemental agreements with us. In such cases, the terms of those agreements will complement the provisions outlined here regarding the collection, use, sharing, and security of your information.
2. Amendments
2.1. Obligations and Rights
Upon acceptance of these Terms, you become subject to the obligations and rights detailed herein, serving as the foundation for this contract.
2.2. Modification of Terms
Skopa reserves the unilateral right to modify any part of this agreement at any time by posting an updated version on the Platform. The updated terms become effective upon publication. If substantial changes are made, Skopa may, at its discretion, notify users via email. If you disagree with the updated terms, you must cease using the Services and accessing the Platform. Continued use of the Services implies acceptance of the revised terms.
3. Account Eligibility and Registration
3.1. Eligibility
To access the Skopa Services, you must create an account ("Account") with Skopa or, where applicable, with a Third-Party Partner. To open an Account and use the Services, you must be 18 years of age or older, have the legal capacity to form a binding contract, and not be prohibited from using the Services by applicable law. Ongoing eligibility in specific states or territories depends on product and service availability, with additional eligibility criteria subject to our discretion.
3.2. Account Credentials and Security
When creating an Account, you must safeguard access to the email and other credentials linked to your Account("Credentials"). Protect your Account's security by not disclosing your Credentials to others and promptly reporting any suspected security breaches or unauthorized Account access. You are responsible for all Account activities, whether or not you are aware of them.
Negligence or inadequate diligence in handling this information may lead to unauthorized third-party access and potential loss or theft of funds stored in your Account. Skopa bears no responsibility for such losses or thefts resulting from unauthorized access due to hacking, involuntary disclosure, theft, or loss of access credentials .If you suspect third-party Account use, contact our support team immediately at contact@skopa.io.
3.3. Account Verification
To verify your Account, complete the verification form in the "User Data" section with accurate, non-third-party information. Acceptance of Skopa's Privacy Policy is necessary to process your personal data for service provision. You are responsible for maintaining the accuracy and completeness of this information. By requesting Account verification, you authorize Skopa to perform necessary actions, such as inquiries, database checks, and identity verification, to comply with anti-money laundering, fraud prevention, terrorism financing, and bribery regulations. Skopa may request additional information or documentation, even after verification, solely for identity confirmation.
3.4. User Information
Provide all requested information accurately, including your full legal name, gender, date of birth, email address, phone number, identity documents, and any other information required to open or maintain an Account. You agree to keep this information updated. Failure to comply may result in suspension or termination of your Account or restricted access to certain Services.
3.5. Usernames
Select a unique alpha-numeric Username for identification on the Services. Your Username must not mislead or deceive others or create a risk of fraudulent or mistaken payments. We may require you to change your Username at our discretion.
3.6. Blocking IDs
To protect service integrity, we reserve the right to block access to the Services from specific IP addresses and unique device identifiers. We may suspend or close your Account, temporarily or permanently, if you breach these Terms or if we reasonably suspect a breach.
3.7. Restricted Jurisdictions
You may not use the Services if you are listed on any U.S. government list of prohibited or restricted parties or if you are located in, or a citizen or resident of, any jurisdiction embargoed or sanctioned by the United States. You also may not use the Services in any other jurisdiction where Skopa or its Third-Party Partners prohibit usage. Notify Skopa and close your Account before establishing residency in any Restricted Jurisdiction. Attempting to access your Account from such a jurisdiction may lead to Account restrictions and cancellation of pending transactions. Contact contact@skopa.ioif you find yourself in this situation.
4. Description of the Services
4.1. Services Offered
Skopa provides services exclusively through the Platform, which may be modified at our discretion. Skopa operates the Platform that uses an embeddable international payment and transfer solution, which allows you to create and maintain an Account, which, together with the Third-Party Services, allows you to receive, hold, transfer, and spend supported fiat and virtual currencies in accordance with these Terms. As our Services evolve, we may change or discontinue all or any part of the Services, at any time and without notice, at our sole discretion. In addition, some Services will be subject to the User's account having been duly verified by Skopa. Moreover, the User expressly and irrevocably grants the necessary power and authority to Skopa to buy any digital or crypto currency on his/her behalf using the User’s available credit.
4.2. Account Balance
“USDC” refers to USD Coin, a virtual currency “Stablecoin” issued by Circle Internet Financial, LLC (“Circle”), designed to remain pegged in value to the U.S. Dollar and backed by U.S. Dollar reserves. Circle is not affiliated with Skopa. Skopa may use other Stablecoins that are backed by the US dollar on a 1:1 basis, including but not limited to BUSD, USDC, USDT, GLOUSD OR USDP (the “Designated Stablecoin”). USDC or Stablecoins may be referred to on the Platform as “cash” or using the “$” symbol, but your account balance is denominated in USDC or the Designated Stablecoin. Where necessary due to market conditions affecting one or more Designated Stablecoins, Skopa may adjust the conversion rate used for the Designated Stablecoin conversion.
4.3. Deposits
You can deposit fiat currency, including U.S. Dollars, into your Account through available payment methods, such as bank transfers, debit/credit cards or cash. Skopa reserves the right to add or remove payment methods temporarily or permanently. Your use of these methods is subject to your agreements with the respective partners, not these Terms. Ensure you have the legal right to use your chosen funding method. You authorize us or our partners to debit your Account or linked payment methods for any amounts owed. The name on your linked bank account must match your Account's name. Deposits from third-party bank accounts or informal cash deposits are not accepted, and such deposits will be refunded, less any charges incurred by Skopa. Contact support at contact@skopa.io if this situation arises.
4.4. Conversion to USDC / Designated Stablecoin
If applicable, when you complete deposits, you are using Third-Party Services to exchange your U.S. Dollars for USDC or the Designated Stablecoin, which will then be credited to your Account balance.
4.5. Withdrawals
The Platform allows you to withdraw USDC from your Account via wire transfer or other transfer methods at Skopa's discretion. In some cases, withdrawals of U.S. dollar balances will be converted to the local currency of the destination country. If this occurs, you will be informed of the exchange rate and relevant fees. Withdrawals are processed within three business days. Timings depend on the chosen option and provider location. Delays due to banking processes are possible. The name on your linked bank account must match your Account's name. Account suspension or closure won't affect service payment or withdrawal requests. Closed Accountholders must register a valid bank account or choose an authorized physical location for fund recovery.
4.6. Transaction Processing
Transactions, once submitted and marked as complete or pending, cannot be canceled, reversed, or changed. If a Transaction fails due to insufficient funds or an error, Skopa may cancel it or debit your other payment methods to cover the amount. Ensure sufficient balance and credit limits to avoid additional fees. Skopa reserves the right to refuse, cancel, or reverse Transactions in cases of money laundering, fraud, erroneous Transactions, violation of Terms, or governmental orders.
4.7. Holding an Account Balance
Your account portfolio is held in USDC or the Designated Stablecoin for all future Transactions or Outside Transactions. The balance is held at a Third-Party Partner technology.
4.8. Outside Spending
The Platform allows you to maintain an Account balance in USDC or the Designated Stablecoin for the purpose of completing subsequent Transactions or Outside Transactions (as defined in Section 4.8 below). Your Account balance reflects a USDC or Designated Stablecoin balance held by you at a Third-Party Partner technology.
4.9. Skopa Card
The Platform allows you to request and use an Skopa Card, a prepaid Mastercard® (including virtual or physical card) which allows you to spend your Account balance everywhere Mastercard® is accepted as well as to withdraw cash at supported ATMs (a “Card Transaction”). A hold for the value of the Card Transaction will be placed on your Account balance until the Transaction is settled, which in exceptional cases may be as long as 30 days. In addition to these Terms, your use of the Skopa Card and related services is governed by the Skopa Cardholder Agreement, which is provided to you when you request an Skopa Card and which you are required to accept as a condition of using the Skopa Card.
4.10. Sending and Receiving USDC or Designated Stablecoin
The Platform allows you to send USDC or the Designated Stablecoin from your Account balance to other Users as well as to receive USDC or the Designated Stablecoin to your Account balance from other Users (a “Send Transfer”). When you send or receive USDC or the Designated Stablecoin as a Send Transfer, you are using Third Party Services to send or receive USDC or the Designated Stablecoin from your Account balance. For convenience and ease of reference, Send Transfers of USDC or the Designated Stablecoin may be referred to on the Platform as “cash” or use the “$” symbol, but all such transfers are made in USDC or in the Designated Stablecoin. As stated above, your Account is for your personal, non-commercial use only, and you may not use the Account for any other purpose, including to sell products or services. YOUSHOULD ONLY SEND TRANSFERS TO PEOPLE YOU KNOW AND TRUST.
4.11. Limitations
In our sole discretion and without prior notice, we may impose and alter limits on the amount and/or the number of Send Transfers you can send and receive, as well as the types of Send Transfers you may make. We may also temporarily or permanently suspend Send Transfers of any type from the Platform in our sole discretion and without prior notice.
4.12. Irreversibility and Other Risks
You cannot cancel, reverse, or change any Send Transfer once submitted and marked as complete or pending. YOUASSUME ALL RISKS AND ALL COSTS ASSOCIATED WITH YOUR USE OF SEND TRANSFERS,INCLUDING COMPLIANCE WITH ANY AND ALL APPLICABLE LAWS AND REGULATIONS. TO THEEXTENT PERMITTED BY APPLICABLE LAW, WE EXPRESSLY DISCLAIM ALL WARRANTIES ANDCONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, RELATING TO SEND TRANSFERS. Please contact us at contact@skopa.io if you have any questions regarding a Send Transfer you made or received.
4.13. Skopa's Services
Skopa does not provide financial, legal, risk, or investment advisory services of any kind. Skopa is not a trading site, therefore, it is the user’s responsibility and risk to make decisions and take the necessary actions to determine whether to carry out transactions or purchases of stable coins on the site. Therefore, Skopa does not offer or guarantee any profitability, product of the operations that its users freely carry out through the platform. Skopa Innovation LLC, is registered as a Money Service Business with the Financial Crimes Enforcement Network(“FinCEN”), a bureau of the United States Department of the Treasury (MSB Registration Number: 31000258508377).
4.14. Accuracy of Information
Ensure accurate information when using Services. Skopa isn't responsible for errors or omissions in transactions.
4.15. Third Parties
Skopa is not responsible for any goods or services that you may receive from, or any action by, a third party with respect to any transfer of funds or cryptocurrency using the Services. Skopa is not responsible for ensuring that any third party that you may transact with will complete the transaction.
4.16. Access
Although we endeavor to provide the Services as soon as we can, the timing of certain aspects of the Services may be subject to the limitations of Third-Party Partners, such as financial institutions who only operate during banking hours. As a result, access to certain or all Services may become delayed from time to time, including due to unexpected increases in transaction volumes on a weekend or bank holiday.
4.17. The Skopa Network The Skopa Network encompasses all licensed partners utilized by Skopa across various regions for the reception and transmission of payments. By participating in this ecosystem, you grant permission for these partners to operate seamlessly within the broader Skopa framework.
4.18. Suspicious Activities
Skopa may suspend or prevent transactions for compliance with applicable laws or regulations, even after debiting funds, if suspicious activity is suspected. Report issues to contact@skopa.io.
5. Third-Party Partners
5.1. General
Skopa has partnered with third parties to facilitate, provide, or otherwise offer certain parts of the Services ("Third-Party Partners"). You may be required to enter into additional agreements with such Third-Party Partners in order to enable or access certain functions of the Services. Skopa does not have control of, or liability for, the products or services offered by Third-Party Partners or for the performance of any Third Party Partners (“Third Party Services”). If applicable, you appoint Skopa or its Third-Party Partner as your limited agent to receive, process, or custody payments as part of any transaction on your behalf or that you initiate and to effect transfers to and from your Account.
5.2 Triangle Platform and Wallet Services
Skopa is not a bank or any chartered depository institution. Instead, Skopa collaborates with Triangle Platform, Inc., a non-custodial wallet, where the user bears full responsibility for safeguarding their assets. Neither Skopa nor Triangle can access the user's wallets without the user's direct involvement and permission. In the event that a user loses access to their wallet or requests Skopa for their private keys, Skopa can assist with wallet recovery solely upon the user's explicit permission. The user is furnished with an encrypted PIN code and, subsequently, their private keys and the Skopa account will be closed. If you lose access to your wallet or want to obtain your private keys, please reach out to contact@skopa.io.
Triangle Terms: Triangle is a company incorporated and existing under California, USA law. To be able to use the Triangle wallet, services or platform in relation to Virtual Currency transactions, User must enter into a separate agreement with Skopa which is governed by the Triangle Terms and conditions for Virtual Currency Wallet Services. The User shall not be entitled to and shall refrain from using the Triangle website, wallet, services or platform in the context of virtual currency transactions as long as this separate agreement is not entered into. Skopa shall not allow User to perform any transaction with virtual currencies and shall be entitled to block any wallet or virtual currency transaction from or towards Users’ wallet as along as this separate agreement is not entered. For more information, please refer to https://www.triangleplatform.com/terms.
5.3. Enhanced Verification.
Skopa may, in its sole discretion, require identity verification, screening procedures, or enhanced verification using our Third-Party Partners ("Enhanced Account Verification"). As a result, you may be required to provide Skopa or our Third-Party Partner with certain personal information, including, but not limited to, your (or any Recipient's) name, address, telephone number, email address, date of birth, taxpayer identification number, government identification number, photograph of your government[1]issued ID or other photographic proof of your identity, and information regarding any of your linked Bank Accounts. You hereby authorize Skopa, directly or through our Third-Party Partner, to make any inquiries necessary to verify your or any Recipient's identity or protect against fraud, including but not limited to:(i) query identity information contained in public reports (e.g., your name, address, past addresses, or date of birth); (ii) query account information associated with your linked Bank Account (e.g., name or account balance); and(iii) take reasonably necessary actions to comply with applicable law. You further authorize any and all third parties to which such inquiries or requests may be directed to fully respond to such inquiries or requests. Skopa will have no liability or responsibility for any permanent or temporary inability to access or use any Services, including your inability to withdraw the balance of your Account or execute transactions, as a result of any identity verification or other screening procedures
6. Purpose of the Funds
6.1. You declare that funds in the Skopa application or website will be used for payments, international transfers, or other authorized purposes via digital assets.
6.2. You declare that you are aware that the funds that you have in your Skopa account, whether in legal tender or digital assets, will not accrue readjustments or interest. You understand that Skopa is a provider of transfer services, and does not consider credit modalities, payments in installments or overdrafts associated with the funds disposed in the account.
7. Fees, Exchange Rates, andTaxes
7.1. Fees Associated with theServices
There is no cost to you to create an Account. We do not currently charge transaction fees for the Services; however, we reserve the right to do so in the future, and in such case any such fees will be shown to you at the time of or prior to your confirmation of a transaction to which a transaction fee applies. Skopa reserves the right to pass on fees charged by Third-Party Partners to you.
7.2. Exchange Rates
Use of our Services may involve or require the purchase or sale of cryptocurrencies or the exchange of fiat currencies or cryptocurrencies (each such purchase, sale, or exchange, a “Conversion”) by Skopa or one or more Third-Party Partners. The cost of a Conversion depends on the all-in exchange rate (the “Rate”), which is based on: (i) exchange rates offered by Skopa’s Third-Party Partners, from which those Third-Party Partners earn revenues, and (ii) for some Services, a margin applied by Skopa, from which Skopa earns revenue. Applicable Rates may differ depending on transaction types and may also differ from exchange rates provided by third parties.
7.3. Taxes
The user is solely responsible for determining, calculating, declaring, paying and complying with the tax obligations that are his responsibility and correspond to the country(ies) in which the user is taxed. Skopa is not responsible to assess or remit user taxes to any tax authority arising from any transaction.
8. Disclosures, Risks, and Liability
8.1. Digital Assets
The Services may implicate the use of cryptocurrencies. In this sense, the Company may provide information on the price, range, volatility and events that have affected the price of such Digital Assets, but this is not considered investment advice and should not be construed as such. You should carefully assess your financial situation, risk appetite, relevant experience and knowledge before you decide to use our services. You should also seek advice from an independent and suitably licensed financial advisor. User discretion is advised. Digital Assets are held in a non-custodial wallet by Triangle.
8.2. User Errors
Users are responsible for accurate information. Skopa isn't liable for transactions based on user instructions, regardless of errors.
8.3. Third-Party Services
Third-Party Services' use is governed by terms with Third-Party Partners.
8.4. Volatility
While designed to be stable, USDC and Designated Stablecoins' value isn't guaranteed. Skopa doesn't control their issuance or redemption.
8.5. Not a Bank
Skopa isn't a bank but collaborates with Third-Party Partners for licensed services.
8.6. No Insurance
Funds held on the Platform aren't insured by governmental or private deposit insurance.
8.7. Risk of Loss
Account balance security depends on Third-Party Partners. A breach may lead to loss of balance.
8.8. General Risks
User's use of the Service is at their own risk. Skopa isn't responsible for professional services or advice.
8.9. No Warranty
Services are provided "ASIS." Skopa disclaims warranties, including continuous access, security, and accuracy.
8.10. Liability
The service is provided "AS IS" and on an "AS AVAILABLE" basis. To the maximum extent permitted by applicable law, Skopa disclaims all warranties, express or implied, including any warranties of fitness for a particular purpose, merchantability, data loss, noninfringement, or the accuracy, reliability, quality of any information or content in or linked to the service. Skopa does not warrant that the service will be completely secure, free from bugs, viruses, interruption, errors, theft or destruction. Skopa does not guarantee continuous, uninterrupted or secure access to any part of the platform, and operation of the platform may be interfered with by numerous factors outside of our control. Skopa will make reasonable efforts to ensure that instructions are executed in a timely manner but Skopa makes no representations or warranties regarding the amount of time needed to complete fiat or digital currency processing because the platform is dependent upon many factors outside of our control.
9. Authorized Use
9.1. General
Platform use must comply with applicable laws and regulations.
9.2. Restricted Activities
Users must not violate laws, defraud, provide false information, transmit malicious code, attempt unauthorized access, or use the Service on behalf of others.
9.3. Prohibited Transactions
Transactions involving sanctioned individuals, weapons, controlled substances, gambling, money laundering, prohibited goods or services, and other prohibited activities are not allowed.
You are prohibited from engaging in the following activities on the platform:
9.3.1 Engaging with individuals or entities listed on sanctions maintained by U.S. government authorities such as the U.S. Treasury Department’s Office of Foreign Assets Control, U.S. Commerce Department, or U.S. Department of State, or any similar government agencies.
9.3.2 Dealing in weapons of any type, including firearms, ammunition, knives, or explosives.
9.3.3 Handling controlled substances, including but not limited to narcotics, prescription drugs, steroids, or related paraphernalia.
9.3.4 Participating in gambling activities.
9.3.5 Involvement in money laundering or terrorist financing.
9.3.6 Engaging in ponzi schemes, pyramid schemes, multi-level marketing, or other forms of "get rich quick" schemes.
9.3.7 Using annuities, lotteries, or lay-away systems.
9.3.8 Dealing in counterfeit goods, including fake or "novelty" photo IDs.
9.3.9 Engaging in activities that are illegal or prohibited by federal, state, or local law.
9.3.10 Engaging in any other activities, goods, or services that we may communicate to you as
10. Right to Suspend or Close Accounts
10.1 We retain the authority, at our sole discretion and without incurring any cost or liability towards you, to suspend, modify, or terminate, either temporarily or permanently, all or part of our Services, establish specific transaction or trading limits, or terminate your Account, with or without prior notice and for any reason. This includes situations where we reasonably believe: (i) your actions pose a risk or potential legal exposure to us; (ii) providing Services to you is no longer commercially viable; (iii) your Account has remained inactive for more than 12 consecutive months; (iv) you have violated any of these Terms; (v) any authority, judicial body, or administrative office necessitates it; or (vi) you cause or attempt to cause operational disruptions on the Platform. Skopa shall not be held accountable for any losses stemming from the suspension or closure of an account.
10.2 Skopa possesses the prerogative to promptly suspend your Account, potentially freezing the funds and assets held within it, under the following circumstances: (i) Skopa has reason to believe, at their sole discretion, that your Account breaches these Terms or the Skopa Anti-Money Laundering program; (ii) Skopa is compelled by a governmental or regulatory authority, legal mandate, court order, or valid subpoena; (iii) your Account displays a negative balance; (iv) a deposit made to your Account is reversed to your Bank Account; (v) Skopa detects unusual activities within your Account or observes unauthorized or inappropriate use of your Credentials or Account; or (vi) if your Account has remained inactive for more than one year. The suspension of your Account, along with the freeze on its funds and assets, will persist until a determination is reached following an investigation by Skopa or its Third-Party Partner. At that juncture, Skopa may decide to terminate your Account.
10.3 You have the option to terminate the applicable Terms governing your Account by deactivating it at any time. Should these Terms be terminated or suspended for any reason: (a) you commit to immediately cease using the Platform and all Skopa Services; (b) we may, but are not obligated to, remove the information and account data stored on our servers; and (c) we shall not be liable to you or any third party for compensation, reimbursement, or damages resulting from any suspension or termination of Services, or the removal of your information or account data. The sections designated 8, 9, 12, 16, and 18 of these Terms will continue to bein effect following termination.
10.4 By creating an Account, you comprehend and acknowledge that the decision to cancel or block it might rely on confidential criteria crucial to Skopa's risk mitigation protocols. You acknowledge that Skopa holds no obligation to reveal the intricacies of these internal protocols.
10.5 Upon the closure of your Account, except in cases of fraud or when your funds and assets are frozen as stipulated in Section 10.2, Skopa will endeavor to facilitate the withdrawal of any remaining balance to a linked Bank Account. No further use of your U.S. Dollar balance will be authorized after Account termination. Your liability to Skopa for all obligations incurred within your Account will persist, irrespective of whether they arise prior to or after the termination of your Account or these Terms.
11. Intellectual Property
11.1. All materials (logo, software, texts, images, graphics, information, prices, exchanges, and audiovisual materials) available on the site are the property of Skopa and are protected by copyright, industrial property, and other applicable international laws. Skopa authorizes the user to review, print, and/or download copies of the materials on the site for informational purposes and non-commercial use only. Any use other than those mentioned is strictly prohibited.
12. Limitation of Liability
12.1. Despite its best efforts in this regard, Skopa does not guarantee that the services will operate free of errors or viruses, nor does it guarantee continuous and uninterrupted access to the site or sections thereof. In this sense, the service may occasionally not be available due to technical difficulties, internet failures, or any other circumstances beyond or within Skopa's control. In such cases, efforts will be made to restore it as quickly as possible, without any responsibility being imputed for this. Skopa also reserves the right to voluntarily affect the availability of the services to carry out maintenance, both preventive and corrective, to update its content, to safeguard the security and integrity of the site, or for similar causes or purposes.
12.2. NOTWITHSTANDING ANYOTHER SECTION OF THESE TERMS, NEITHER SKOPA, ITS AFFILIATES, THIRD-PARTYPARTNERS, NOR ANY OTHER PARTY INVOLVED IN CREATING, PRODUCING, OR DELIVERINGTHE SERVICES WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY, ORCONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, TRADINGLOSSES, LOST SAVINGS, LOST BUSINESS OPPORTUNITY, LOSS OF DATA OR GOODWILL,SERVICE INTERRUPTION, COMPUTER DAMAGE, OR SYSTEM FAILURE, OR THE COST OFSUBSTITUTE SERVICES OF ANY KIND ARISING OUT OF OR IN CONNECTION WITH THESETERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES, WHETHER BASED ONWARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY, OR ANYOTHER LEGAL THEORY, AND WHETHER OR NOT SKOPA, ITS AFFILIATES, OR ANY OTHER PARTYHAS BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGE. SOME JURISDICTIONS DO NOTALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTALDAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
12.3. Notwithstanding any other section of these Terms, in no event will Skopa’s and its affiliates' total liability arising out of or in connection with these Terms or from the use of or inability to use the services exceed one thousand U.S. dollars($1000).
12.4. The exclusions and limitations of damages set forth above are fundamental elements of the basis of the bargain between Skopa and you. The waivers and limitations in this Section 12 apply regardless of the form of action, whether in contract, tort (including negligence), strict liability, or any other legal theory, and will survive and apply even if any limited remedy in these terms fails of its essential purpose.
13. Purchase Authorization
13.1. You authorize Skopa to exchange fiat money for Digital to make all types of transfers within the application or web platform. You guarantee that you are using the Services at your own will and at your own risk. You affirm that you understand in detail the nature of the web platform, the mobile application, the services offered, and the Digital Assets, as well as that the exchange of goods or products, real or virtual, as well as money or currencies, carries a risk and that the value of digital assets can increase or decrease drastically at any time and without prior notice.
13.2. You understand and accept that to mitigate the risk, Skopa has a bot within its technology that constantly monitors the value of each stable coin and is limited to a maximum drop of 0.05%. If the value of the active stable coin falls above this limit, the bot will activate and convert all retained assets to another stable coin to mitigate losses.
13.3. You represent and warrant that you can use the service and, therefore, the correct or incorrect performance of transactions, exchanges, payments, and withdrawals are your absolute responsibility. Skopa is not responsible for incorrect transactions carried out that result in the loss of funds, loss of income, loss of business, loss of opportunities, or loss of data, indirect, or consequential.
13.4. Skopa does not control or have any interference in the base protocols that support the operation of the assets supported by the site. Therefore, Skopa will not be responsible for the operation of the protocols, nor does it guarantee their operation, security, or availability. Likewise, you declare to be aware that the protocols of the supported Digital Assets may be subject to modifications in their operating rules and that such modifications may materially affect the value, utility, and availability of the affected Digital Asset. Consequently, in such a case, you acknowledge and accept that Skopa will not assume any responsibility for any damage caused by a change not supported by the platform. Skopa also reserves the right to accept or reject modifications made to the protocols of the supported Digital Assets.
13.5. Skopa assumes no responsibility for funds (charges) authorized and completed, which are later subject to reports or disputes, requests for refund or reversal, which a represented without authorization, by mistake, or in violation of applicable laws. In these cases, you will be immediately responsible to Skopa for all inconveniences and requests for reimbursement or returns that must be made, regardless of the reason or the moment, and Skopa may withhold or delay the execution of the payments in the time that is estimated to resolve the doubts generated by the user or third parties during this time and as a result of said reports, disputes, refunds, or reversals. In this case, you will see the following actions in your Account: a) a negative balance in your Account for the amount under review, in addition to a deduction for the opening of the investigation protocol; b) in the case of bankruptcy of a company registered as a client, there will be a stoppage of your Account and the amounts until you settle the outstanding amounts or resolve the amounts in dispute; and c) when it is presumed that there is a risk of non-compliance with your responsibility under these Terms, the payment made may be withheld, the current money in your account may be retained, or the amount of the transaction may be reversed to the original account, as appropriate.
14. External Links
14.1. Skopa may from time-to-time reference or link to other websites; in this sense, Skopa is not responsible, in any case, for external or third-party websites or resources that the user can access from the Site or from communications and notifications ("Third-Party Content"). Skopa does not control those sites, their rules, their policies, or the information contained in them; therefore, it is not responsible for the interaction by users. These links should not be construed as a suggestion or recommendation to use, purchase, or subscribe, unless otherwise explicitly stated. You acknowledge that (i) Third-Party Content is not part of the Services, (ii) Skopa and its affiliates are not responsible for Third-Party Content, including, without limitation, content that may be misleading, incomplete, erroneous, offensive, indecent, or otherwise objectionable, and (iii) we provide the Third-Party Content to you only as a convenience. You further acknowledge sole responsibility for and assume all risk arising.
15. Indemnification
15.1. You will indemnify and hold harmless Skopa and its affiliates, and their respective officers, directors, employees, and agents, from and against any claims, disputes, demands, liabilities, damages, losses, and costs and expenses, including, without limitation, reasonable legal and accounting fees arising out of or in any way connected with (a) your improper or unauthorized access to or use of the Services; (b) any breach or alleged breach of these Terms or any related policies such as our Privacy Policy, (ii) your violation of any law, regulation, order or the rights of a third party, (iii) our reliance on Account information, transaction instructions, or other information and data furnished by you or (iii)information and data resulting from activities that Skopa or any other indemnified party undertakes at your request, or at the request of anyone Skopa or any other indemnified party believes in good faith to be your authorized agent, in providing the Services on the Platform.
16. Notices and notifications
16.1. You accept in this act that Skopa sends him regular communications, notifications and other information related to his account. These may be sent electronically or via text message and will always be considered "in writing".
16.2. Skopa may also send the user data, opinions, estimates, forecasts, news and promotions via email. The content of these communications must be considered as merely informative and must not be interpreted as an offer, invitation or request to buy or sell digital assets, nor can they serve as a basis to assume any commitment or decide of any kind. Relying on the advice, opinions, statements or affirmations that such reports or reports may contain, will be solely at the user's own risk. Unless proven otherwise, neither Skopa nor any of its directors, administrators, managers, employees or representatives shall be responsible for the accuracy, error or omission of any information contained in these reports, or for its timeliness, veracity or completeness. The content of the reports or reports is based on information that is estimated to be available to the public, obtained from sources that are considered reliable, but said information has not been subject to independent verification, therefore no express or implicit guarantee is offered. as to its accuracy or completeness.
17. Compliance with Local Laws
17.1. It is your responsibility toa bide by local laws in relation to the legal usage of Skopa Services in your local jurisdiction as well as other laws and regulations applicable to you. You must also factor, to the extent of your local laws, all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. ALL USERS OF THE SKOPASERVICES ACKNOWLEDGE AND DECLARE THAT THEIR FUNDS COME FROM LEGITIMATE SOURCESAND ARE NOT ORIGINATED FROM ILLEGAL ACTIVITIES; USERS AGREE THAT SKOPA WILLREQUIRE THEM TO PROVIDE OR OTHERWISE COLLECT THE NECESSARY INFORMATION ANDMATERIALS AS PER RELEVANT LAWS OR GOVERNMENT ORDERS TO VERIFY THE LEGALITY OFTHE SOURCES AND USE OF THEIR FUNDS. Skopa maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate Users’ accounts and funds which are flagged out or investigated by legal mandates.
18.Miscellaneous
18.1. Entire Agreement. These Terms constitute the entire and exclusive understanding and agreement between Skopa and you regarding the Services and supersedes and replaces all prior oral or written understandings or agreements between Skopa and you regarding the Services.
18.2. Severability. If any provision of these Terms is held invalid or unenforceable by an arbitrator or a court of competent jurisdiction, that provision will be enforced to the maximum extent permissible, and the other provisions of these Terms will remain in full force and effect.
18.3. Assignment. You may not assign or transfer these Terms, by operation of law or otherwise, without Skopa’s prior written consent. Any attempt by you to assign or transfer these Terms, without such consent, will be null. Skopa may freely assign or transfer these Terms without restriction. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors, and permitted assigns. In the event that Skopa, its parent entity, or substantially all of the assets used in connection with providing the Services is or are acquired by or merged with another entity, Skopa may transfer or assign the information Skopa has collected from you as part of such change of control.
18.4. Waiver of Rights. Skopa’s failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Skopa. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or at law.
18.5. Interpretation. For purposes of these Terms, (i) the words "include", "includes", and "including" shall be deemed to be followed by the words "without limitation"; (ii) the word "or" is not exclusive; (iii) all pronouns and any variation thereof will be deemed to refer to the masculine and feminine, and to the singular or plural as the identity of the person or persons may require for proper interpretation of these Terms, and (iv) the words "herein", "hereof", "hereby", "hereto", and "hereunder" refer to these Terms as a whole. Unless the context otherwise requires, references herein: (x) to Sections, Appendices, and Addenda refer to the Sections of, and Appendices, and Addenda attached to these Terms;(y) to an agreement, instrument, or other document means such agreement, instrument or other document as amended, supplemented, and modified from time to time to the extent permitted by the provisions thereof and (z) to a statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. These Terms shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The Appendices and Addenda referred to herein, if any, shall be construed with, and as an integral part of, these Terms to the same extent as if they were set forth verbatim herein. Captions and headings of the sections and paragraphs of these Terms are intended solely for convenience and no provision of these Terms is to be construed by reference to the caption or heading of any section or paragraph.
18.6. Event of Death. In the event of your death, the representative of your estate or the survivor(s) shall give Skopa written notice as soon as practicable. In such event, Skopa may cancel all open orders or transactions, including recurring transactions, and Skopa will not be responsible for any action taken on transactions or orders made prior to Skopa’s actual receipt of notice of death and a reasonable amount of time thereafter. Further, Skopa may in their discretion close out any part or all of your Account without awaiting the appointment of a personal representative for your estate and without demand upon or notice to any such personal representative. We may, before or after receiving such written notice, take such proceedings, require such papers or waivers, or restrict transactions in your Account as we may deem advisable, which may include the liquidation of any balances in your Account.
18.7. Unclaimed Property. If there are funds in your Account and we have no record of you accessing the Services for several years and are unable to contact you, Skopa may be required by applicable law to deliver any such funds to the applicable state or jurisdiction as unclaimed property. If this occurs, Skopa will try to locate you at the address shown in our records, but if Skopa is unable to locate you, it may be required to deliver any such funds to the applicable state or jurisdiction as unclaimed property. Skopa reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
18.8. Downtime. The Services may be periodically unavailable during scheduled or unscheduled downtime by Skopa or its Third-Party Partners. Skopa and its Third-Party Partners are not liable to you for any inconvenience or loss as a result of such downtime.
18.9. Force Majeure. Skopa shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions of these Terms.
18.10. Governing Law and Jurisdiction. These Terms and any Claim will be governed by the Federal Arbitration Act, as set forth above, and by California law and/or applicable law of the United States of America, without regard to choose of law or conflicts of law principles. All disputes arising from or relating to these Terms or your use of the Platform (other than small claims actions) must be brought exclusively in the state courts located in the County of San Francisco, California, or the federal courts located in the County of San Francisco.
Contact Information
If you have any questions about these Terms or the Services, please contact Skopa at contact@skopa.io.