End-User Terms for Mobile Applications.

These Terms and Conditions stipulated herein are a binding agreement between Colu Technologies Ltd. ("Colu"), a duly incorporated Israeli corporation, and yourself, either a natural person or a designated representative acting on behalf of a corporation.

The Colu Application allows you to manage your wallet for local currencies for active local communities. The Colu Application allows you to manage payments and currencies issued via the Colu Platform. For purposes herein, the “Colu Platform” shall mean the Colu API, Colu SDK and Colu engine; and a “E-Money” shall mean a virtual token which may represent monetary value.

The Colu Application comes with absolutely no warranty, and is meant to be used AS-IS.

Please read the full terms and conditions, as they are the sole legal document, and this preamble shall not be used for interpretation.

  • Registration, Eligibility and Application Terms: The following article sets forth Colu’s eligibility and registration terms. If you are not eligible to register, please do not perform the activation of your account. Should you be found later to be non-eligible, then Colu may terminate your account without notice.
    • General Information Required To Register: Colu requires your phone number as a prerequisite to enter into these Terms and Conditions. Colu may later request additional information, in order to verify your identity and/or in order to provide additional services. Colu may also allow you to register with your Facebook account; in such case, Colu shall receive access to your name, user ID, profile picture, gender and network; as well as information relating to your language and country.
    • Solvency: You are solvent and have not filed for bankruptcy, liquidation, debt arrangement or otherwise lost your ability into entering into agreements such as these terms.
    • Not Representing An Enemy State: You do not reside in North Korea, Libya, Syria, Iran, or any other jurisdiction where Colu cannot enforce its terms.
    • Adult: If you are a natural person, you are either over 18, or you are over 13 years of age and have obtained your parental consent.
    • Access To Your Phone’s Contacts: Colu shall require access to your mobile phone’s contacts in order to provide you with the services. If you do not provide it with such access, then your use of the Colu Application may be limited.
    • Securing Your Mobile Device: As your mobile device is the key for your use of the Assets, please keep it secure at all times.
  • Services: The following services are a part of the Colu Application; where Colu may add or deprecate services from time to time, and may withhold a portion of the services. Each of the services may be referred to as a part of the Colu Application, or as a “Service”.
    • Manage Account: Colu may allow you to manage your Colu account, where you may be able to view your specific balances of Wallets and to view your address book.
    • Backup: Colu may allow you to backup your data to a third party service provider (such as iCloud or Google). In such case, it is your responsibility to retain the backup secure.
    • Transaction History: Colu may allow you to view your transaction history and other information.
    • Acceptable Use Policy: Colu provides the Colu Application for your bona fide use.You may use the Colu Application for your own personal (or corporate) use. You shall not resell the Colu Application, allow third parties to access the Colu Application and/or information obtained through the Colu Application or make excessive calls and/or uses of the API and/or Colu Application. Colu may put a cap on the number of server calls, E-Money transfers, Asset activities and/or other functions.
    • Withdrawal:Colu may allow you to withdraw sums from your wallet against a fee, where Colu may charge a fee for such payment and may refuse, at any time, provide a withdrawal for any reason. In any case, the maximum amount you may withdraw from your wallet shall be all funds in excess of your aggregate registration bonus and deposit bonuses, as well as any other bonuses granted. Colu may charge a 5% withdrawal fee according to its sole discretion.
  • License: Colu hereby licenses you a limited, non-exclusive, non-assignable, non-transferrable, revocable, temporary, personal license to use the Colu Application on your own device and solely for its intended legal uses. Apart where specifically licensed, you are prohibited from using, distributing, publishing, making derivative works, changing, reverse engineering, decompiling or otherwise manipulating the Colu Application.
  • Payment: Colu may charge your payment apparatus in consideration with the E-Money you purchase through the Colu App and may convey such payment to third parties who issue such E-Money, or retain it if it issued the E-Money.
  • Refunds: As the E-Money is considered “Data” according to the Israeli Computer Act, 1995, then under law Colu is not required to provide you with any refunds. However, Colu may refund you, or provide you with the value of all your wallet, minus bonuses, at its sole discretion, if: (i) you requested the refund within 14 days of purchasing the E-Money; and (ii) you did not use the wallet; and (iii) your wallet remains unused and in its original, uncorrupted form. However, Colu may charge you with a reasonable processing fee for the refund, which shall not exceed 100ILS or 5% of the transaction, whichever is lower.
  • No Warranty: Colu does not warrant for Colu Application quality and supplies it on an “as-is” and “as-available” basis. Your use of the Colu Application is at your own risk and under your liability. Colu makes no warranty that: (i) the Colu Application will meet your requirements; (ii) the use of the Colu Application will be uninterrupted, timely, secure, or error-free; (iii) the results that may be obtained from the use of the Colu Application will be accurate or reliable; (iv) the quality of any products, services, information, or other material purchased or obtained by you through Colu Application will meet your expectations; or (v) any errors in the Colu Application will be corrected. Moreover, you hereby acknowledge that the Colu Application is in early beta stage and that it is currently under development. You acknowledge that the service may be flawed and that some errors may occur.
  • No Liability: For no case and for no reason shall Colu be held liable for any damage, direct or indirect, consequential, exemplary, physical or special, to you, any other user or any third party due to its misperformance of duties herein. Colu provides the services on an AS-IS basis and shall not be held liable, to the extent permitted by law, by any case of misconduct, negligence, gross negligence, malice or any other mean, to any damages or loss of property, including damages to: your credit on the Colu service, Assets, reputation and business reputation, user account information including login information, loss of profit and loss of good name, all resulting from the use or inability to use Colu services.
  • Amending these Terms: Colu may amend these Terms and Conditions from time to time, provided that you shall be informed through electronic communication on such amendment and shall be granted the option to terminate your agreements with Colu by providing a 30 days prior written notice.
  • Terminating User Accounts: Colu shall have the right to terminate your use of the Colu Application at any time and by providing a 30 day prior notice. Moreover, Colu may terminate your use of the Colu Application at any time and with no prior written notice in any case where you breached these Terms and Conditions and such breach may cause Colu irreparable harm. You may terminate your account at any time, but please note that in such case, some of the information and E-Money you purchased may be lost.
  • Terminating The Platform: Colu may terminate the Colu Application at any time, by providing a written notice of 30 days prior to such termination. In such case, Colu shall exercise best efforts to allow you to migrate your E-Money to a different platform.
  • Independent Contractors: The parties enter into these terms as independent contractors. Nothing in these terms shall create any employee-employer relationship, partnership, joint venture, equity holdings or any other legal construction.
  • Severability: If any provision of these Terms and Conditions shall be held unenforceable by any competent legal authority, it shall not limit the other provisions of these terms.
  • Governing Law, Jurisdiction, No Class Action: These Terms and Conditions shall be solely governed by the laws of the state of Israel and any dispute arising from it shall be solely brought to the competent courts of the Tel-Aviv district. You hereby warrant and undertake not to initiate any class action lawsuit against Colu, any merchant or user of the service, for any cause and to solely seek your own damages.
  • Assignment: These Terms and Conditions and any rights and licenses granted hereunder, may not be transferred or assigned by you but may be assigned by Colu without restriction or notification.