Business Term & Conditions

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 Platform", which includes the Colu API, Colu SDK and Colu engine allows you to issue and manage Assets (as defined later in this document) based on the core blockchain technology, which is not managed or owned by Colu. Using the Colu Platform you may issue Assets, manage them, revoke them or otherwise modify their properties. However, as they are based entirely on the blockchain, which is not managed by Colu, these Assets may be modified and managed also by the use of the bitcoin blockchain, by yourself.

Colu encourages an open platform, and the use of its API in order to provide the services, but does not allow illegal or harmful use. Therefore, you are prohibited from using the Colu Platform in a manner which violates the law, or in a manner which might harm Colu and its property.

The Colu Platform 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: The following information is a prerequisite to enter into these Terms and Conditions: your full name, the Company which you represent (if applicable), and your email. Colu may later request additional information, in order to verify your identity and/or in order to provide additional services.
    • One Account Per One Entity: Colu's current policy is that each legal entity shall have only one account with one login. This means that if you are acting on behalf of a corporation, then you may share this account between the corporation's staff. However, it is your sole responsibility to keep this account secure.
    • If acting on behalf of a corporation: If you are acting on behalf of a corporation, then you are the authorized entity to enter into these terms and are acting on behalf of such corporation.
    • 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.
    • Password: When using the Colu Platform, you may be required to select a password. The password shall be hashed on Colu's servers and may be used to encrypt your private key for issuing the Assets. Please take into consideration that if you lose both your password and backup files, then you may not be able to recover access to your Assets, as they are controlled by this private key.
    • Notification: You are required to inform Colu, immediately, upon any case where you believe that your account was breached and in any case you are in knowledge of any unauthorized use of any Colu account.
    • Colu's Liability: Colu shall not be liable in any case where you did not adhere to these security guidelines and shall not be able to assist you in any manner should you refrain from using Colu's best practices, as published from time to time.
    • Backup: Colu may allow you to backup your private key to your computer or any other third party service. It shall be your sole responsibility to keep such backup secure, as it allows access to your Assets.
    • API Key: Colu may provide you with an API (Application Programming Interface) key. Such API key may be used to issue and manage your Assets. It shall be your sole responsibility to keep the API key secure, as it allows access to your Assets.
    • Activation Link: Following your initial registration, you may be required to activate your account and validate your email by accessing an activation link sent to you.
  • Services: The following services are a part of the Colu Platform and fully owned by Colu, or duly licensed to it; 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 Platform, or as a "Service".
    • Issue Assets: Colu may allow you to issue Assets. An "Asset" is a virtual token based on the blockchain technology, which may represent either a token granting access to a specific venue and time (such as a movie ticket), a control of a physical Asset (such as a "certificate of authenticity" for a rare baseball card), or a membership card (such as a gym membership).
      • Issuance of Assets: Colu may allow you to issue Assets, either using your own set of rules and metadata stored on the Assets (such as the seat of a movie ticket, or dates where the gym membership is applicable) and to control the transferability of the Asset, its divisibility (such as half of a movie ticket versus half ownership of a baseball card), it's original issuer (yourself), and other options.
      • Access Assets: Colu may also allow you to issue access Assets. An access Asset is used for online and offline authentication and identity management (such as a gym membership or accessing a website through two-factor authentication).
      • Use Of Templates: Colu may allow you to use templates generated either by Colu or its users for issuing your Assets. These templates may be provided for free or against a fee, and may or may not be available for modification. Please note that the use of templates does not mean that Colu warrants that such templates may be free from any legal restrictions and impediments, and you undertake to review such templates prior to using them. Please contact your counsel for legal advice.
      • Migration: If you previously issued Assets on different protocols, then Colu may allow you to migrate your Assets to the Colu Platform.
    • Send Asset: The Colu Platform may allow you to send Assets to users who installed the Colu application or to addresses on the blockchain. Please note that while it is possible to send Assets on top of the blockchain to non-Colu users, it may cause the Asset to be unusable or lost forever.
    • Manage Asset: Colu may allow you to manage your Assets, and add or remove information from them, as well as adding a data layer on top of such Assets, where you can add additional data to your Asset which is not stored on the blockchain.
    • SDK: Colu may provide you with a specific software code, to be used to integrate the Colu Platform and/or access the Colu API with your products. When doing so, you shall be licensed a limited, non-exclusive, non-assignable, non-transferrable, revocable, temporary, personal license to distribute the Colu SDK solely as a part of your own application, provided that your end-users shall accept the Colu application terms of service and shall hold Colu as harmless and exempt from any warranty. Apart where specifically licensed, you are prohibited from using, distributing, publishing, making derivative works, changing, reverse engineering, decompiling or otherwise manipulating the Colu SDK and/or the Colu application.
    • Revocation: Colu may allow you to revoke specific Assets (such as lost movie tickets), and to either replace or reissue Assets against revoked Assets.
    • Analytics: Colu may allow you to review statistical information about the use of your issued Assets. This may include the use of the Assets by other users, the transaction information on the blockchain and your internal use of the Assets.
    • API: Colu may avail you to API access to the Colu Platform, where you may be able to perform some of the services provided by Colu. In such case, Colu may also monitor and/or review your use of the API as a part of your use of the services.
    • Generate Templates: Colu may allow you to generate templates for managing Assets, where such template may either be used internally by yourself (such as a theater generating a movie ticket template) or shared with others through the Colu Platform (such as a high school issuing prom tickets and allowing nearby schools to copy it).
    • Send Messages: Colu may allow you to send messages to Asset holders over the blockchain.
    • Precaution: Please note that as the actions performed on the Colu Platform are based on the blockchain technology, anyone who holds a copy of your public key may view your transactions.
  • Fees: In consideration of its services, Colu may charge you fees as set forth in Colu's fee schedule, which may be amended from time to time. Such fees may include set-up fees, monthly subscriptions, usage fees or overage fees. Colu may determine the means which the fees shall be paid by, such as credit card, PayPal or bitcoins.
  • Taxes: You and/or your end-users shall bear any tax implications and/or liabilities which you, and/or your end-users, incur as a result of your use of the Colu Platform.
  • Refunds: Colu's services are provided to you where your purchase of Colu's services is a payment for services, intangible goods, tailor made goods, or virtual property. Therefore, Colu is not obligated to refund or reimburse you in any way. Colu may personally consider each refund request and may refund according to its sole discretion.
  • Support: Colu currently provides limited support, where such support is provided by email, during regular business hours. Colu may provide extended support services, either for free or for additional charges, and may provide professional services as part of such support (such as assisting in developing Colu Platform applications).
  • User Generated Content: In some cases, Colu may allow you to share content you created with others. For the purpose of these Terms and Conditions, the term "Content" shall refer to: templates you created through the Colu Platform, your Asset's logo and description, images you publish through the Platform, messages you transmit over the Colu Platform and metadata you store through the Colu Platform.
    • License To Use: You hereby license Colu an irrevocable, permanent, unlimited, world-wide, royalty-free, sublicensable, non-exclusive license to use your Content and to allow users to use your Content according to the functionality of the Colu Platform, all as required by the functionality of the Colu Platform.
    • Warranty: You hereby warrant that you are either the sole proprietor or a designated licensee of any Content you submit through Colu Platform and that no other party's rights are infringed or violated by using the Content through the Colu Platform. You moreover warrant that no legal claim, dispute or lawsuit was filed or threatened against you or for using the Content.
    • Trademarks: If your Content contains a trademark, then you hereby license Colu an irrevocable, permanent, unlimited, world-wide, royalty-free, sublicensable, non-exclusive license to use and display any trademarks associated with your Content according to the functionality of the Colu Platform.
    • Prescreen: You acknowledge that Colu cannot pre-screen all Content, but that it shall have the right (but not the obligation) in their sole discretion to refuse or remove any Content that is available via the Colu Platform.
    • Disclosure of Content: You acknowledge and agree that Colu may preserve Content and may also disclose Content if required to do so by law or in the good faith belief that such preservation or disclosure is reasonably necessary to: (a) comply with legal process; (b) enforce these terms; (c) respond to claims that any Content violates the rights of third parties; or (d) protect the rights, property, or personal safety of Colu, its users, and the public. You understand that the technical processing and transmission of the Content through the Colu Platform, may involve: (i) transmissions over various networks; and (ii) changes to conform and adapt to technical requirements of connecting networks or devices.
    • Harmless: You agree and warrant to hold Colu and its users harmless and to immediately indemnify Colu or its users for any claim of copyright infringement, trademark dilution or patent infringement arising from their use of your Content according to these terms.
    • Notifications: Should you encounter any Content which you believe to be in violation of any of your rights, good name or copyrights, please file an infringement complaint to Colu's Content Officer at officer@colu.co. Colu's officer shall examine your complaint and shall forward it to the user who published said Content for his answer. Should your complaint be false, harassing or in order to prevent legal use of service, you shall bear all liability to compensate the user which you reported as infringing and/or Colu. In your complaint you will be required to inform us with: (i) a written statement regarding which Content infringes your rights and proof that you hold those rights; (ii) what is the exact location or identifier of the Content; and (iii) notification that you believe that the use made by the Content is not considered fair-use, criticism, consumer protest or any other protected speech.
    • Moderation: Pursuant to any notification of infringement, and promptly thereafter, Colu shall moderate the Content and review your request; Colu shall notify the user who posted the Content on your complaint, including your information and request his response.
    • Removal or Restoration: Should the user who posted the content fail to respond within 96 hours, Colu shall remove the Content; had he responded, Colu shall inspect his response and had there any material questions of fact or law arise, shall forward his personal information directly to you so you could commence litigation over your complaint.
    • Indemnification: You hereby warrant and agree to hold Colu harmless and to indemnify Colu for any damage, loss, expense, legal expense or cost incurred as a result of: (i) your posting of any Content in direct violation of these Terms and Conditions, including any false representation; and/or (ii) any claim, complaint or notification filed maliciously or negligently against any user where no such claim had any legal standing.
  • Acceptable Use Policy: Colu provides the Colu Platform for your bona fide use. You may use the Colu Platform for your own personal (or corporate) use. You shall not resell the Colu Platform, allow third parties to access the Colu Platform and/or information obtained through the Colu Platform or make excessive calls and/or uses of the API and/or Colu Platform. Colu may put a cap on the number of server calls, Asset issuances, Asset activities and/or other functions.
  • No Malicious Activity: Colu places high value on the safe and bona fide use of the Colu Platform. Each of the following malicious activities shall cause immediate termination of your account and withholding of any Assets:
    • Spam: you may not use the Colu Platform to spam, nor you may use spam to promote and distribute your Assets. For the purpose of this agreement, "spam" shall mean all and any uninvited or unsolicited postings or communications, including repetitive web-posting, splogs, unsolicited emails, short messages or social network messages, sending of invitations through social networks or end-users' contacts and engaging in any harassing activity.
    • Viruses and Malware: you may not use the Colu Platform to distribute Viruses and Malware, nor you may use viruses and malware to distribute Assets. For the purpose of these Terms and Conditions, "Viruses and Malware" shall mean any and all software or code which acts without the end-users' specific consent and/or performs any activity which was not intended to be performed by the end user, including any secret key-loggers, trojans, back-doors, and including any automated installers and updaters.
    • Adult Content: you may not use the Colu Platform to distribute Adult Content to end-users, nor may you use Adult Content to distribute Assets, where "Adult Content" shall mean any pornography, obscenity, nudity, or other content which may be harmful to minors.
    • Tricking Children: Children are considered a sensitive group and are not eligible to enter into agreements without their parents' consent. Therefore, they cannot agree to Colu's terms and conditions or install Colu's application. Therefore, you may not use the Colu Platform to distribute Assets to children nor you may target children to download and install the Colu application.
    • Fraudulent Activity: You may not use the Colu Platform for fraudulent activity nor you may use fraudulent activity to distribute Assets. Fraudulent activity shall mean any activity where (i) Assets are used for illegal issuance of securities, shares, equity, bond, stock or other forms of property rights; (ii) Assets are used during the holding of an illegal gambling or gaming event; (iii) Assets are used to convey property which is prohibited by law; or (iv) Assets are otherwise used for means which are prohibited by law.
    • Illegal Activity: you may not use the Colu Platform in any illegal activity nor may you use illegal activity to distribute Assets. Illegal activity shall mean any activity which is prohibited in the jurisdiction where the Assets are used in.
    • Infringing on Third Party Rights: you may not use the Colu Platform in any manner which infringes third party rights, nor may you infringe any third party rights to distribute Assets. Third party rights shall include, but not be limited to, right for privacy, copyright, patents, trademarks, goodwill, good name and other rights.
    • Invading Personal Information: You may not share any personal information over the Assets, as they may be viewable by the public through the blockchain.
  • Warranty: Colu does not warrant for Colu Platform's quality and supplies it on an "as-is" and "as-available" basis. Your use of the Colu Platform is at your own risk and under your liability. Colu makes no warranty that: (i) the Colu Platform will meet your requirements; (ii) the use of the Colu Platform will be uninterrupted, timely, secure, or error-free; (iii) the results that may be obtained from the use of the Colu Platform will be accurate or reliable; (iv) the quality of any products, services, information, or other material purchased or obtained by you through Colu Platform will meet your expectations; or (v) any errors in the Colu Platform will be corrected. Moreover, you hereby acknowledge that the Colu Platform 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.
  • 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.
  • Indemnification: You hereby warrant and agree to hold Colu harmless and to indemnify Colu for any damage, loss, expense, legal expense or cost incurred as a result of: (i) Your use of the Colu Platform in direct violation of these Terms and Conditions, including any false representation; and/or (ii) any claim, complaint or notification filed maliciously or negligently against any Colu user where no such claim had any legal standing.
  • 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 Platform at any time and by providing a 30 day prior notice. Moreover, Colu may terminate your use of the Colu Platform 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 Assets you issued may be lost.
  • Terminating The Platform: Colu may terminate the Colu Platform 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 Assets 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.

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 Assets based on the core blockchain technology, which is not managed or owned by Colu. The Colu Application allows you to manage the Assets issued by the Colu Platform users, but not to issue additional Assets. For purposes herein, the "Colu Platform" shall mean the Colu API, Colu SDK and Colu engine; and an "Asset" shall mean a virtual token based on the blockchain technology, which may represent either a token granting access to a specific venue and time (such as a movie ticket), a control of a physical Asset (such as a "certificate of authenticity" for a rare baseball card), or a membership card (such as a gym membership).

However, as the Assets are based entirely on the blockchain, which is not managed by Colu, these Assets may be modified and managed also by the use of the bitcoin blockchain, by yourself.

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 only 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".
    • Assets: Colu may allow you to manage your Assets and scan (by means of QR codes) new Assets to your Application and to send and/or receive Assets through your application.
    • Manage Account: Colu may allow you to manage your Colu account, where you may be able to view your Assets' metadata, to delete or archive Assets, and to view your address book, which contains your friends' public keys.
    • Authentication: Colu may allow you to use the Colu Application as a two-factor authentication mechanism for specific access, such as gym membership, or login to secure websites.
    • 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, Asset transfers, Asset activities and/or other functions.
    • Use of the Blockchain: You may send Assets to regular blockchain addresses (which are not Colu clients). However, in such case, you may lose these Assets or lose access to these Assets. Please note that as the Colu technology is in early development, interoperability is very limited.
  • 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 Assets you purchase through the Colu App and may convey such payment to third parties who issue such Asset, or retain it if it issued the Asset.
  • Refunds: As the Assets are 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, at its sole discretion, if: (i) you requested the refund within 14 days of purchasing the Asset; and (ii) you did not use the Asset; and (iii) your Assets remain unused and their 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 Assets you issued 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 Assets 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.