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Terms of Service

These terms govern your use of the “Obligato” credit set-off platform stewarded by Informal (the “services”). You agree to be bound by the Informal Systems general terms of service and privacy policy incorporated here by reference. Your use of the services affirms and confirms your agreement to these terms. If you do not agree with any of the terms do not use the services.

Liability and Indemnification

In addition to your other obligations under the Informal general terms of service, you agree to defend, indemnify, and hold harmless Informal from and against any claim or demand (including reasonable legal fees) due to or arising out of your breach of these terms of service and/or applicable law, and/or your improper use of the service.

Any fees charged do not include any taxes, levies, duties or similar governmental assessments of any nature, including, for example, value-added, sales, use or withholding taxes, assessable by any jurisdiction (collectively, “taxes”).

It is your responsibility to determine what, if any, taxes may apply to your use of the service and/or to any relevant set-off(s). Informal takes no responsibility whatsoever for any tax issue or liability.

Suspension and Cancellation

We reserve the right to discontinue, modify, or condition your use of the service. Except as otherwise required by applicable law, we may block, restrict, suspend, or terminate your use of the service at any time upon notice, including for breach of these terms, or if we suspect fraudulent activity. You agree that we will not be liable to you or any third-party for any block, suspension, cancellation, or termination of your use of the service.

Holds and Use Limitations

Under certain circumstances, in order to protect Informal or the security and integrity of the network that provides the services, Informal may, in its sole discretion, take account-level or transaction-level actions. A hold may be placed on your account when we believe there may be a high level of risk associated with you or that placing a hold is necessary to comply with legal/regulatory requirements.

Our decision about holds and limitations may be based on confidential criteria that are essential to our management of risk and the protection of Informal, our customers and/or service providers. We may use fraud and risk modeling when assessing the risk associated with your account. In addition, we may be restricted by regulation or a governmental authority from disclosing certain information to you about such decisions. We have no obligation to disclose the details of our risk management or security procedures to you.

Additionally, limitations may be placed on your account to help protect Informal or services users when we notice restricted activities or activity that appears to us as unusual or suspicious.

Additional Limitations of Liability

In addition to the general limitation of liability set forth in the Informal general terms of service, liability is limited with respect to your use of the services. In no event shall Informal be liable for lost profits or any special, incidental or consequential damages (including without limitation damages for loss of data or loss of business) arising out of or in connection in any respect with the services, our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf, (however arising, including negligence), unless and to the extent prohibited by law.

In addition, to the extent permitted by applicable law, Informal is not liable, and you agree not to hold Informal responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from: (1) your use, or inability to use, our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf, or any of the services; (2) delays or disruptions in our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf and any of the services; (3) viruses or other malicious software obtained by accessing our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf or any of the services or any website or service linked to our websites, software or any of the services; (4) glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf or any of the services or in the information and graphics obtained from them; (5) the content, actions, or inactions of third parties; (6) a suspension or other action taken with respect to your account; or (7) your need to modify practices, content, or behavior, or your loss of or inability to do business, as a result of changes to this user agreement or our policies.

No warranty

The services are provided “as-is” and without any representation or warranty, whether express, implied or statutory. We specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement.

We do not have any control over users of the services and cannot ensure that a user you are dealing with will actually complete a given transaction or is authorized to do so. We do not guarantee continuous, uninterrupted or secure access to any part of the services, and operation of our websites, software, or systems (including any networks and servers used to provide any of the services) operated by us or on our behalf may be interfered with by numerous factors outside of our control. We will make reasonable efforts to ensure that set-offs occur or are processed in a timely manner but we make no representations or warranties regarding the amount of time required to complete processing, or regarding the completeness of any set-off.

All transactions are final.

Your Release of Us

If you have a dispute with any other user/account holder, you release us from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering into this release, you expressly waive any protections (whether statutory or otherwise, for example, California Civil Code § 1542) that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.

Service Provider

We act as a credit set-off platform only. We do not:

  • Act as an escrow agent;
  • Act as your agent or trustee;
  • Act as a financial institution of any sort;
  • Enter into a partnership, joint venture, agency or employment relationship with you;
  • Guarantee the identity of any user;
  • Determine if you are liable for any taxes.
  • Privacy and Security.
  • You acknowledge that we may be required by applicable law to report your business name and/or the name of your beneficial owners and/or principals to law enforcement agencies. You acknowledge that, where we are required to so report, you waive and agree to hold us harmless from all claims and liabilities you may have as a result of such reporting. 
  • You authorize us to share information with law enforcement about your use of the service if we reasonably suspect that it has been used for unauthorized, illegal, or criminal purposes.
  • You are responsible for the security of data in your possession or control as a result of using the service. You agree to comply with all applicable law, including pertaining to the privacy, secrecy, confidentiality, collection, usage, sharing, security, protection, disposal, or transfer, of any personal, financial, or transaction information (“data”). 

Prohibited uses

You agree that you will not use the services relative to any following:

  • Pharmaceuticals and other controlled substances;
  • Illegal drugs;
  • Drug paraphernalia;
  • Firearms, ammunition or other weapons;
  • Sexually oriented activities or materials;
  • Pornography;
  • Obscene or offensive activities or materials;
  • Materials or activities that promote intolerance, violence or hate;
  • Ponzi or pyramid schemes;
  • Illegal gambling, gaming, lotteries or sweepstakes;
  • Court-ordered alimony or child support payments;
  • Counterfeit materials;
  • Infringement on the copyright, patent, trademark, trade secret or other intellectual property rights of another user or any other third party;
  • Terrorist funding;
  • Fraud;
  • Scams;
  • Money laundering; or
  • Any other illegal activity or unlawful purpose.