Terms of Use

Last modified: 2024-10-01

Effective Date: 2024-10-01

1. PARTIES ACCESSING THE SITE AGREE TO BE BOUND BY OUR TERMS

These terms of use (the "Terms" or "Terms of Use") govern your access of the payment tool which can be integrated with your ecommerce storefront and designed to enable merchants (herein the Users) to accept and integrate cryptocurrencies from their respective customers directly to the merchant for their products or services, and any other products created by Bitrecs from time to time, whether accessed: (a) on a computer connected to the internet at bitrecs.ai (the "Website"); (b) on Bitrecs’s social media properties; or (c) by mobile device (individually and collectively, (a), (b), and (c) are the "Product"), as owned and operated by 10795593 Canada Inc, a corporation registered federally in Canada (referred to in these Terms as "we", "us" or the "Company"). These Terms govern the use of all persons who have registered for the use of the Product (the "User"), and are binding on any use of the Product, and apply to You from the time that You access the Product. For clarification, You includes terms such as your and yourself.

2. APPROVAL OF THE TERMS

It is important that You read these Terms carefully. If You do not agree to these Terms, please do not use the Product or browse the Website. By accessing or using the Product, You represent, warrant and signify that: (a) You are at least 18 years of age; (b) You have read, understood and agree to be bound by these Terms as they may be amended from time to time; (c) You’re not using the Product on behalf of another person; and (d) You have read and understand our Privacy Policy, which can be accessed at here (the "Privacy Policy"), the terms of which are incorporated herein by reference, and agree to abide by the Privacy Policy.

You may not use the Product nor accept these Terms if you are not of a legal age to form a binding contract with us. If You accept these Terms, You represent that You have the capacity to be bound by them, or if You are acting on behalf of a company or entity, that You have the authority to bind such a company or entity (and in which case You will refer to the company or entity).

3. AMENDMENT

We may add to, discontinue or revise these Terms or any aspect, mode, design, or service provided under the Product pursuant to the privacy legislation and regulations under the Consumer Protection Act, 2002, S.O. 2002, c. 30 (the "Act") which include but are not limited to the:

• scope of the features;
• timing of the features;
• software/hardware required for access to the Product;
• geographic locations or jurisdictions in which certain features may be available.

We may amend the Terms without notice for non-material amendments. In the event of a material change, we will provide the User with thirty (30) days’ notice of a material change in the Terms and conditions (including changes in pricing) via email to the email address supplied to us by the User, setting out:

• the new or amended agreement terms;
• how such terms read formerly;
• the date of the coming into force of the amendment;
• the means in which You can respond and the effects of not responding;
• the option to either terminate the agreement or retain the existing agreement unchanged; and
• the language of this provision with reference to the applicable consumer protection legislation rules for amending these terms and making any additional requirements for amendments as prescribed by law (if any).

We highly recommend that Users read any amendments carefully. Unless explicit consent is required by the law, we have the right to assume that You have accepted the change to the terms and conditions, unless You notify us to the contrary, no later than thirty (30) days after the amendment comes into force, that You desire to cancel the contract or deregister or unsubscribe from access to the Product.

We will post the most current Terms on the Website and your use of the Product will be subject to the most current Terms as posted on the Website at such time. It is your responsibility to visit this page to find any updates that may have been made to the Terms. You hereby agree that the Company shall not be liable to You, your employee, or any other third party for any amendments to the Terms of Use.

4. PAYMENT TERMS

The fee is based on the plan you select via the pricing page, as set out on our Website here: ("Pricing Page") plus any tax such as GST, VAT, sales tax or the like that is chargeable by the Company in accordance with any local, state, provincial or foreign laws with respect to your subscription ("Taxes", and together with the subscription fee, the "Fees"). All payment is exclusive of any Taxes or duties imposed by jurisdiction tax law. The Company will not be responsible for any taxes or duties owed by You.

The User must make payment to the Company of such Fees in accordance with the Pricing Page and upon delivery of an invoice by the Company. The Fees on the Pricing Page may be updated and amended from time to time, and the Fees that were on the Pricing Page on the date of creation of your account will apply to you. Any amounts payable by the User hereunder which remain unpaid thirty (30) days after an invoice is delivered shall bear interest at the rate of 1% per month or 15% annually, or the maximum amount allowable by law (whichever is less), such interest to be calculated on a daily basis from the date the payment becomes overdue until the date payment is made in full.

You will never be required to provide payment information to the Company. You may be required to provide payment information through third-party payment methods. You acknowledge that such payment information is subject to such third-party’s policies.

We are not liable for any payments that are not completed because: (1) your debit or credit card account does not contain sufficient funds to complete the transactions or the transactions would exceed the credit limit or overdraft protection of the debit or credit card account; (2) You have not provided us with correct payment account information; (3) your debit or credit card has expired; or (4) of circumstances beyond our control (such as but not limited to, power outages, interruptions of cellular service, overzealous fraud protection rules applied by your payment card brand or acquirer bank, or any other interface from an outside force).

Exchange Rate Guarantee: We guarantee the exchange rate displayed to the customer if the customer pays within the applicable time window after the payment is created. Invoice timeout information is clearly displayed for each payment through the Product. While we guarantee the exchange rate if the customer pays within such time, You agree that You assume the volatility risk of the currency or cryptocurrency in which You choose to settle payments. For clarity, if You ask us to collect USD$100, and the customer sends the cryptocurrency equivalent, based on the displayed exchange within the time window, we guarantee You will receive exactly USD$100, minus our applicable Fees. We do not, however, guarantee the value of the United States dollar.

If you have any questions or comments regarding these Terms please contact our head office by email at support@bitrecs.ai or for subscription-related matters, support@bitrecs.ai.