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BlocX LLC. USER AGREEMENT

This user agreement will be effective for all users as of July 2, 2020.

Welcome to BlocX!

This user agreement is a contract between you and BlocX, LLC. governing your use of your BlocX wallet and the BlocX services. It applies to U.S. BlocX wallets only. If you are an individual, you must be a resident of the United States or one of its territories and at least 14 years old, or the age of majority in your state of residence to open a U.S. BlocX wallet and use the BlocX services. If you are a business, the business must be organized in, operating in, or a resident of, the United States or one of its territories to open a U.S. BlocX wallet and use the BlocX services.

By opening and using a BlocX wallet, you agree to comply with all the terms and conditions in this user agreement. The terms include an agreement to resolve disputes by arbitration on an individual basis. You also agree to comply with the following additional policies that apply to you:

Please read carefully all the terms and conditions of this user agreement, terms of these policies and each of the other agreements that apply to you.

We may revise this agreement and any of the policies listed above from time to time. The revised version will be effective at the time we post it, unless otherwise noted. If our changes reduce your rights or increase your responsibilities we will post a notice on the Policy Updates page of our website and provide you at least 21 days advance notice for personal wallets and at least 5 days advance notice for business wallets. By continuing to use our services after any changes to this user agreement, you agree to abide and be bound by those changes. If you do not agree with any changes to this user agreement, you may close your wallet.

OPENING A BLOCX WALLET

We offer two types of BlocX wallets: personal BlocX wallets and business BlocX wallets, both covered by this user agreement.

All BlocX wallets let you do things like:

  • Send and receive money.

  • Buy things online, using mobile devices or in stores.

  • Make payments using your credit card, debit card, bank wallet, or other payment options, including funds held as balance in a business BlocX wallet (if we have verified the required identifying information you provide to us) or funds held in a BlocX wallet linked to a personal BlocX wallet if you choose to open a BlocX Cash or a BlocX Cash Plus wallet. The term “Cash Wallet” in this user agreement will be used to refer to either a BlocX Cash or a BlocX Cash Plus wallet. 

  • Accept credit card, debit card, bank wallet, Cash Wallet and other payment methods from others.
     

You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers, or any other codes that you use to access your BlocX wallet and the BlocX services. You must keep your mailing address, email address and other contact information current in your BlocX wallet profile.

PERSONAL BLOCX WALLETS

If you primarily need to make purchases and send funds to family and friends, a personal BlocX wallet is probably right for you. With a personal BlocX wallet you can do things like:

  • Send and request funds from friends and family.

  • Buy goods and services.

You can also use a personal BlocX wallet to receive funds for the sale of goods and services and hold that funds in a linked BlocX Wallet or transfer it to a linked bank wallet if you do not open a Cash Wallet, but if you plan to use your personal BlocX wallet primarily to sell things, you should open a business BlocX wallet. You can also convert your personal BlocX wallet to a business BlocX wallet should circumstances change.

BUSINESS BLOCX WALLETS

We recommend business BlocX wallets for people and organizations that primarily use BlocX to sell goods or services or accept donations, even if your business is not incorporated. With a business BlocX wallet, you can do things like:

  • Use a company or business name as the name on your business BlocX wallet.

Business BlocX wallets may be subject to fees that differ from the fees applicable to personal wallets.

By opening up a business BlocX wallet or converting a personal BlocX wallet to a business BlocX wallet, you certify to us that you are using it primarily for a business or commercial purpose. You also consent to BlocX obtaining your personal and/or business credit report from a credit reporting agency at wallet opening and whenever we reasonably believe there may be an increased level of risk associated with your business BlocX wallet.

LINK OR UNLINK BANK ACCOUNTS

You can link or unlink a a U.S. bank account to your BlocX wallet to fund or cash out of digital asset. Please keep Linked Bank account information current. If this information changes, we may update it using information and third party sources available to us without any action on your part. 

RECEIVING FUNDS, HOLDING A BALANCE OR TRANSFERRING FUNDS

Individual BlocX wallets

Any USD send to your BlocX Wallet is converted to BLX stable token.

Any digital assets such as BTC or ETH, can be held in the wallet or transferred to another wallet of your choice.

BlocX is not a bank and does not itself take USD deposits. BlocX combines your BlocX funds with the BlocX funds of other BlocX users and holds in in the FBO account of our partner bank- IFEB. You will not receive any interest on the funds held within FBO IFEB account of BlocX.

Business BlocX wallets

BLX Stable Token sent to a business BlocX wallet can be held directly as balance in the business BlocX wallet. The balance functionality in your business BlocX wallet will differ depending on whether we have been able to verify the required identifying information or KYC process that you provide to us.

The required identifying information is:

  • For sole proprietorships: name, physical address, date of birth and taxpayer identification number; or

  • For other types of business legal entities: business name, business address, taxpayer identification number, and proof of business existence.

If we have not verified the required identifying information, a balance in your business BlocX wallet can only be held in your business BlocX wallet and cannot be transferred to a linked bank account. 

 

If we have verified the required identifying information, a balance can be held in your business BlocX wallet, transferred to a linked bank wallet, used to make purchases or send funds to others.

 

You can use BLX stable token to withdraw balance from your business BlocX wallet by:

  • transferring it via a ACH transfer to a bank account linked to your business BlocX wallet for a fee for every transaction

RESTRICTIONS ON TRANSFERS OR WITHDRAWALS FROM BLOCX WALLETS

To protect us and our users from loss, we may delay a withdrawal, in certain situations, including if we need to confirm that you have authorized the withdrawal or if other payments to your BlocX wallet have been subject to a reversal. If we place a limitation on your BlocX wallet, a payment is subject to a hold, or your wallet or an associated wallet has a negative balance in any currency while a withdrawal from your BlocX wallet is pending, you will have to reinitiate the withdrawal once the limitation or hold has been lifted, or negative balance is fully paid off.

SENDING DIGITAL CURRENCY

You can send digital currency to a friend or family member using the send funds feature in your BlocX wallet (sometimes called “peer-to-peer/P2P transaction”). You can send ETH or BTC to a friend or family member if you have their wallet address in a different wallet for FREE.

 

We do not impose limits on the amount of digital currency you can send, including BLX stable token you send for purchases. 

When you send digital currency to a friend or family member, you are sending it via public Blockchain. Please, insure you are sending to the correct address by using copy/paste feature that many wallets have or scanning a QR code.

 

 You can also use the send funds feature in your BlocX wallet to pay for goods or services. You will not be charged any transaction fee for sending funds to purchase goods or services. In that case, the merchant will pay a fee. 

BUYING SOMETHING FROM, OR RETURNING SOMETHING TO, A SELLER WHO ACCEPTS BLOCX

How to buy something

You can buy something from a seller who accepts BlocX, in BlocX stable token that the seller accepts and that BlocX supports using any bank account linked to your BlocX wallet. This includes, for example:

  • Buying something at an online retailer’s website and selecting BlocX as your payment method at checkout.

  • Sending funds to a seller for goods or services.

  • Using your BlocX wallet to buy something at a seller’s physical store.

If the seller you are buying from sells goods or services and that seller does not already have a BlocX wallet, they can claim your payment by opening a BlocX wallet. 

 

When you authorize a payment to a seller who accepts BlocX, some sellers may take up to 5 days to complete the transaction. In these instances, your payment may appear as a pending order in your BlocX wallet. In that case, your authorization of the payment will remain valid until the seller completes the transaction (but no longer than 30 days). 

FEES

When you buy something from a seller who accepts BlocX you don’t pay a fee to BlocX. 

PAYMENT REVIEW

When BlocX identifies a potentially high-risk transaction, we review the transaction more closely before allowing it to proceed. When this happens, BlocX will place a hold on the transaction and notify the seller to delay shipping of the item. As a buyer, this may delay your receipt of the item you purchased. If we clear the transaction, we will notify the seller and direct them to ship the item. If we don’t clear the transaction, we will cancel it and return the funds to you, unless we are legally required to take other action.

REFUNDS

When you buy something from a seller online using BlocX, you have to go through various verifications to make sure this is not a fraudulent transactions including 2A Verification and biometric verification on your smart phone. Therefore, the transactions for the reason of fraud will be highly unlikely. However, if that happens, you need to contact Customer support from your app, to open a support ticket.  Customer will be charged $25 Fee for all fraud transactions disputes.

 

For purchases you make in a seller’s store location that you paid for using your business BlocX wallet and the you are returning goods and disputing services, you need to open a Customer service request in your app.  If the merchant, agrees to refund, then you will receive your refund via BlocX Wallet. Merchant will be charged $25 for each disputed transaction.

 

Funds will be refunded in the currency you paid.

PAYMENT METHOD USED FOR MY TRANSACTION

Selecting a preferred payment method

You can choose any of the payment methods in your BlocX wallet as your preferred payment method. Please note, we offer two methods to fund your wallet and receive stable token.  You can connect your bank or use BTC or ETH to exchange for Stable token. You can select a preferred payment method in your wallet settings in the BlocX app. 

If you have not selected a preferred payment method, or your preferred payment method is unavailable, we will show you available payment methods, including the payment method you used most often or most recently, at the time of transaction.

OUR ONLINE DISPUTE RESOLUTION PROCESS 

If you’re unable to resolve a transaction related issue directly with a seller, you must follow our online dispute resolution process through the Customer Service to pursue a claim under our Purchase Protection program. The steps you must follow are described below, and if you do not follow these steps your claim may be denied:

 

Step 1: Open a dispute within 30 days of the date you made the payment. This might allow you to start a direct conversation with the seller regarding your issue with the transaction that may help resolve the dispute. If you are unable to resolve the dispute directly with the seller, proceed 

 

Step 2: Escalate the dispute to a claim for reimbursement within 20 days after opening the dispute, if you and the seller are unable to come to an agreement, or we will automatically close the dispute. You can escalate the dispute to a claim for reimbursement through the 

 

Proof of delivery means:

  • For transactions that total less than $750 U.S. dollars (or the foreign currency threshold in the table below), confirmation that can be viewed online and includes the delivery address showing at least city/state or zip code, delivery date, and the identity of the shipping company you used.

  • For transactions that total $750 U.S. dollar (or the foreign currency threshold in the table below) or more, you must provide signature confirmation of delivery.
     

Step 3: BlocX will make a decision (including automatically closing any dispute or claim), in its sole discretion, based on the coverage and eligibility requirements set forth above, any additional information provided during the online dispute resolution process or any other information BlocX deems relevant and appropriate under the circumstances.

 

Note that when you are making Digital Assets Transactions, there are special rules that apply and that include pre-determined thresholds where we may, at our discretion, reverse the transaction without requiring you to take further action. We may limit the number of automatic reversals that you benefit from, but, even if that is the case, you will still be able to follow BlocX's standard dispute resolution processes described above. Furthermore, BlocX ACH reverse transaction activity is not applicable once the BLX Stable Token has been issued to your wallet address.

ACCEPTING PAYMENTS FROM BUYERS FOR GOODS AND SERVICES

Receiving personal payments

If you want to use your BlocX wallet to receive payments for the sale of goods or services or accept donations, you must register as a merchant and pay applicable transaction fees. 

No surcharges

You agree that you will not impose a surcharge or any other fee for accepting BlocX as a payment method. You may charge a handling fee in connection with the sale of goods or services as long as the handling fee does not operate as a surcharge and is not higher than the handling fee you charge for non-BlocX transactions.

TAXES AND INFORMATION REPORTING

Our fees 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 apply to the payments you make or receive, and it is solely your responsibility to assess, collect, report and remit the correct taxes to the appropriate authority. BlocX is not responsible for determining whether any taxes apply to your transaction, or for calculating, collecting, reporting or remitting taxes arising from any transaction.

You acknowledge that we may make certain reports to tax authorities regarding transactions that we process. For example, BlocX is required to report to the Internal Revenue Service the total amount of payments for goods and services you receive each calendar year into all of your BlocX wallets associated with the same tax identification number if you receive more than $20,000 in payments for good and services and process more than 200 transactions involving goods or services through those BlocX wallets in the same calendar year.

YOUR CUSTOMER SERVICE INFORMATION, REFUNDS, RETURNS AND PRIVACY POLICY 

You must publish customer service information with clear instructions on how your customers can contact you. Such instructions must include at least: (1) one active customer service email address or active customer service URL to file tickets for assistance and (2) at least one active customer service telephone number. Such information must be readily accessible for review by your customers.

You must publish a refunds and returns policy.

You must publish a privacy policy, where required by law.

PAYMENT REVIEW

BlocX reviews certain potentially high-risk transactions. If BlocX determines, in its sole discretion, that a transaction is high-risk, we place a hold on the payment and provide notice to you to delay shipping of the item. BlocX will conduct a review and either complete or cancel the payment. If the payment is completed, BlocX will provide notice to you to ship the item. Otherwise, BlocX will cancel the payment and the funds will be returned to the buyer, unless we are legally required to take other action. All payments that complete this payment review will be eligible for BlocX Seller Protection coverage if they meet the BlocX Seller Protection requirements. We will notify you about payment reviews by email and/or through your BlocX wallet.

IN-STORE PAYMENTS

If you accept BlocX payments at your physical store, you must communicate the total amount of the transaction to the customer before it takes place. You may charge your customer’s wallet only for transactions that they have authorized. You must also provide customers with a physical or digital receipt if they request one. You agree that any transaction that you make shall have an accurate and true description of the goods and services being purchased.

BLOCX CASH OUT 

BlocX’s Cash Out services let you cash out BLX stable token for USD through our partner bank.  To use these services, you must have:

  • a business BlocX wallet in good standing and with no withdrawal limits; and

  • Be a KYC verified merchant

We may remove your ability to use Cash out at any time if there is a higher than acceptable level of risk associated with your use of those services.

The amount you will pay us for these services differs depending on the merchant risk type. 

 

These fees can be found in the BlocX Fees table.

 

BlocX is not liable for amounts sent by you in error. BlocX shall have no responsibility to reverse any payout payment. 

RESTRICTED ACTIVITIES

In connection with your use of our websites, your BlocX wallet, the BlocX services, or in the course of your interactions with BlocX, other BlocX customers, or third parties, you must not:

  • Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising);

  • Infringe BlocX's or any third party's copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;

  • Sell counterfeit goods;

  • Act in a manner that is defamatory, trade libelous, threatening or harassing;

  • Provide false, inaccurate or misleading information;

  • Send or receive what we reasonably believe to be potentially fraudulent funds;

  • Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;

  • Attempt to double dip during the course of a dispute by receiving or attempting to receive funds from both BlocX and the seller, bank or card issuer for the same transaction;

  • Control of a wallet that is linked to another wallet that has engaged in any of these restricted activities;

  • Conduct your business or use the BlocX services in a manner that results in or may result in:
    - complaints;
    - requests by buyers (either filed with us or card issuers) to invalidate payments made to you;
    - fees, fines, penalties or other liability or losses to BlocX, other BlocX customers, third parties or you;
    - Allow your BlocX wallet to have a negative balance;

  • Take any action that imposes an unreasonable or disproportionately large load on our websites, software, systems (including any networks and servers used to provide any of the BlocX services) operated by us or on our behalf or the BlocX services;

  • Facilitate any viruses, trojan horses, malware, worms or other computer programming routines that attempts to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept or expropriate, or gain unauthorized access to any system, data, information or BlocX services;

  • Use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our websites without our prior written permission; or use any device, software or routine to bypass our robot exclusion headers;

  • Interfere or disrupt or attempt to interfere with or disrupt our websites, software, systems (including any networks and servers used to provide any of the BlocX services) operated by us or on our behalf, any of the BlocX services or other users’ use of any of the BlocX services;

  • Take any action that may cause us to lose any of the services from our Internet service providers, payment processors, or other suppliers or service providers;

  • Circumvent any BlocX policy or determinations about your BlocX wallet such as temporary or indefinite suspensions or other wallet holds, limitations or restrictions, including, but not limited to, engaging in the following actions: attempting to open new or additional BlocX wallet(s) when an wallet has a negative balance or has been restricted, suspended or otherwise limited; opening new or additional BlocX wallets using information that is not your own (e.g. name, address, email address, etc.); or using someone else’s BlocX wallet; or

  • Harass and/or threaten our employees, agents, or other users.

ACTIONS WE MAY TAKE IF YOU ENGAGE IN ANY RESTRICTED ACTIVITIES

If we believe that you’ve engaged in any of these activities, we may take a number of actions to protect BlocX, its customers and others at any time in our sole discretion. The actions we make take include, but are not limited to, the following:

  • Terminate this user agreement, limit your BlocX wallet and/or close or suspend your BlocX wallet immediately and without penalty to us;

  • Refuse to provide the BlocX services to you in the future;

  • Limit your access to our websites, software, systems (including any networks and servers used to provide any of the BlocX services) operated by us or on our behalf, your BlocX wallet or any of the BlocX services, including limiting your ability to pay or send funds with any of the payment methods linked to your BlocX wallet, restricting your ability to send funds or make withdrawals;

  • Hold the balance in your Wallet, the balance in your business BlocX wallet, or any funds waiting to be claimed through your personal BlocX wallet for up to 180 days if reasonably needed to protect against the risk of liability or if you have violated our Acceptable Use Policy;

  • Suspend your eligibility for BlocX’s Purchase Protection program and/or BlocX’s Seller Protection program;

  • Contact buyers who have purchased goods or services from you using BlocX, your bank or credit card issuer, other impacted third parties or law enforcement about your actions;

  • Update inaccurate information you provided us;

  • Take legal action against you;

  • If you’ve violated our BlocX LLC Terms & Conditions, then you’re also responsible for damages to BlocX caused by your violation of this policy; or

  • If you are a seller and you violate the Acceptable Use Policy, then in addition to being subject to the above actions you will be liable to BlocX for the amount of BlocX's damages caused by your violation of the Acceptable Use Policy. You acknowledge and agree that $2,500.00 U.S. dollars per violation of the Acceptable Use Policy is presently a reasonable minimum estimate of BlocX's actual damages considering all currently existing circumstances, including the relationship of the sum to the range of harm to BlocX that reasonably could be anticipated because, due to the nature of the violations of the Acceptable Use Policy, actual damages would be impractical or extremely difficult to calculate. BlocX may deduct such damages directly from any existing balance in any BlocX wallet you control.

If we close your BlocX wallet or terminate your use of the BlocX services for any reason, we’ll provide you with notice of our actions and make any unrestricted funds held in the balance of your individual BlocX Wallet or in the balance of your business BlocX wallet, or any funds waiting to be claimed through your personal BlocX wallet available for withdrawal.

You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by BlocX, any BlocX customer, or a third party caused by or arising out of your breach of this agreement, and/or your use of the BlocX services.

HOLDS, LIMITATIONS, AND RESERVES 

What are holds, limitations and reserves

Under certain circumstances, in order to protect BlocX and the security and integrity of the network of buyers and sellers that use the BlocX services, BlocX may take wallet-level or transaction-level actions. Unless otherwise noted, if we take any of the actions described here, we’ll provide you with notice of our actions, but we retain the sole discretion to take these actions. To request information in connection with a wallet limitation, hold or reserve, you should visit the contact customer service or follow the instructions in our email notice with respect to the limitation, hold or reserve.

Our decision about holds, limitations and reserves may be based on confidential criteria that are essential to our management of risk and the protection of BlocX, our customers and/or service providers. We may use proprietary fraud and risk modeling when assessing the risk associated with your BlocX wallet. 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.

In order to facilitate BlocX’s actions described above and allow us to assess the level of risk associated with your BlocX wallet, you agree to cooperate with BlocX’s reasonable requests for financial statements and other documentation or information in a timely fashion. 

HOLDS

A hold is an action that BlocX may take under certain circumstances either at the transaction level or the wallet level. When BlocX places a temporary hold on a payment, the funds is not available to either the sender or the recipient. BlocX reviews many factors before placing a hold on a payment, including: wallet tenure, transaction activity, business type, past customer disputes, and overall customer satisfaction. Some common situations where BlocX will hold payments include:

  • New sellers or sellers who have limited selling activity.

  • Payments for higher-risk categories like electronics or tickets.

  • Sellers who have performance issues, or a high rate of buyer dissatisfaction or disputes.
     

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Holds based on BlocX’s risk decisions
 

We may place a hold on payments sent to your BlocX wallet if, in our sole discretion, we believe that there may be a high level of risk associated with you, your BlocX wallet, or your transactions or that placing such a hold is necessary to comply with state or federal regulatory requirements. We make decisions about whether to place a payment hold based on a number of factors, including information available to us from both internal sources and third parties. When we place a hold on a payment, the funds will appear in your BlocX wallet with an indication that they are unavailable or pending. We’ll notify you, either through your BlocX wallet or directly by phone or email, whenever we place a hold.

Risk-based holds generally remain in place for up to 21 days from the date the payment was received into your BlocX wallet. We may release the hold earlier under certain circumstances (for example, if you’ve uploaded shipment tracking information related to the transaction), but any earlier release is at our sole discretion. The hold may last longer than 21 days if the payment is challenged as a payment that should be invalidated and reversed based on a disputed transaction as discussed in the following paragraph below. In this case, we’ll hold the payment in your BlocX wallet until the matter is resolved (but no longer than 180 days).

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Holds based on disputed transactions
 

If a payment sent to you as a seller is challenged as a payment that should be invalidated and reversed, we may place a temporary hold on the funds in your BlocX wallet to cover the amount that could be reversed. If we determine the transaction should not be reversed, we’ll lift the temporary hold. If we determine the transaction should be reversed, we’ll remove the funds from your BlocX wallet.

WALLET LIMITATIONS

Limitations are implemented to help protect BlocX, buyers and sellers when we notice restricted activities, an increased financial risk, or activity that appears to us as unusual or suspicious. Limitations also help us collect information necessary for keeping your BlocX wallet open.

There are several reasons why your BlocX wallet could be limited, including:

  • If we suspect someone could be using your BlocX wallet without your knowledge, we’ll limit it for your protection and look into the fraudulent activity.

  • If your debit or credit card issuer alerts us that someone has used your card without your permission. Similarly, if your bank lets us know that there have been unauthorized transfers between your BlocX wallet and your bank wallet.

  • In order to comply with applicable law.

  • Seller performance indicating your BlocX wallet is high risk. Examples include: indications of poor selling performance because you’ve received an unusually high number of claims and chargebacks, selling an entirely new or high-cost product type, or if your typical sales volume increases rapidly.

You will need to resolve any issues with your wallet before a limitation can be removed. Normally, this is done after you provide us with the information we request. However, if we reasonably believe a risk still exists after you have provided us that information, we may take action to protect BlocX, our users, a third party, or you from reversals, fees, fines, penalties, legal and/or regulatory risks and any other liability.

COURT ORDERS, REGULATORY REQUIREMENTS OR OTHER LEGAL PROCESS

If we are notified of a court order or other legal process (including garnishment or any equivalent process) affecting you, or if we otherwise believe we are required to do so in order to comply with applicable law or regulatory requirements, we may be required to take certain actions, including holding payments to/from your BlocX wallet, placing a reserve or limitation on your BlocX wallet, or releasing your funds. We will decide, in our sole discretion, which action is required of us. Unless the court order, applicable law, regulatory requirement or other legal process requires otherwise, we will notify you of these actions. We do not have an obligation to contest or appeal any court order or legal process involving you or your BlocX wallet. When we implement a hold, reserve or limitation as a result of a court order, applicable law, regulatory requirement or other legal process, the hold, reserve or limitation may remain in place longer than 180 days.

PROTECTION FROM UNAUTHORIZED TRANSACTIONS

To protect yourself from unauthorized activity in your BlocX wallet, you should regularly log into your BlocX wallet and review your BlocX transactions. BlocX will notify you of each transaction by sending an email to your primary email address on file. You should review these transaction notifications to ensure that each transaction was authorized and accurately completed.

BlocX will protect you from unauthorized activity in your BlocX wallet. When this protection applies, BlocX will cover you for the full amount of the unauthorized activity as long as you cooperate with us and follow the procedures described below. 

What is an Unauthorized Transaction

An “Unauthorized Transaction” occurs when funds is sent from your BlocX wallet that you did not authorize and that did not benefit you. For example, if someone steals your password, uses the password to access your BlocX wallet, and sends a payment from your BlocX wallet, an Unauthorized Transaction has occurred.

What is not considered an Unauthorized Transaction

The following are NOT considered Unauthorized Transactions:

  • If you give someone access to your BlocX wallet (by giving them your login information) and they use your BlocX wallet without your knowledge or permission. You are responsible for transactions made in this situation.

Reporting an Unauthorized Transaction

If you believe your BlocX login information has been lost or stolen, please contact BlocX customer service.

Tell us AT ONCE if you believe that an electronic fund transfer has been made without your permission using your login information or by other means. You could lose all the funds in your BlocX wallet. If you tell us within 60 days after we provide you your BlocX wallet statement showing transfers you did not make, you will be eligible for 100% protection for Unauthorized Transactions.

Also, if your BlocX wallet statement shows transfers that you did not make, including those made with your BlocX login information or by other means, tell us at once. If you do not tell us within 60 days after we provided the statement to you, you may not get back any funds you lost after the 60 days if we can prove that we could have stopped someone from taking the funds if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we may extend the time periods.

ERROR RESOLUTION

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An “Error” means the following:

  • When funds are either incorrectly taken from your BlocX wallet or incorrectly placed into your BlocX wallet, or when a transaction is incorrectly recorded in your BlocX wallet.

  • You send a payment and the incorrect amount is debited from your BlocX wallet.

  • An incorrect amount is credited to your BlocX wallet.

  • A transaction is missing from or not properly identified in your BlocX wallet statement.

  • We make a computational or mathematical error related to your BlocX wallet.

  • You request receipt or periodic statement documents that BlocX is required to provide to you.

  • You request information concerning preauthorized (recurring) transfers to your BlocX wallet that BlocX is required to provide to you.

  • You request additional information or clarification concerning a transfer to or from your BlocX wallet, including a request you make to determine whether an error has occurred.

  • You inquire about the status of a pending transfer to or from your BlocX wallet.

  • You request documentation or other information, unless the request is for a duplicate copy for tax or other record-keeping purposes.

What is an Error

What is not considered an Error

The following are NOT considered Errors:

  • If you give someone access to your BlocX wallet (by giving them your login information) and they use your BlocX wallet without your knowledge or permission. You are responsible for transactions made in this situation.

  • Routine inquiries about the balance in your individual BlocX Wallet or business BlocX wallet.

  • Requests for duplicate documentation or other information for tax or other recordkeeping purposes.

In case of Errors or questions about your electronic transfers

Contact us through the contact BlocX customer service.

Notify us as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

  • Tell us your name and wallet number (if any).

  • Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

  • Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 Business Days.

We will determine whether an error occurred within 10 Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your BlocX wallet within 10 Business Days for the amount you think is in error, so that you will have the use of the funds during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days, we may not credit your BlocX wallet.

For errors involving new BlocX wallets, point-of-sale transactions, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new BlocX wallets, we may take up to 20 Business Days to credit your BlocX wallet for the amount you think is in error.

We will tell you the results within 3 Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Processing Errors

We will rectify any processing error that we discover. If the error results in:

  • You receiving less than the correct amount to which you were entitled, then we will credit your BlocX wallet for the difference between what you should have received and what you actually received.

  • You receiving more than the correct amount to which you were entitled, then we will debit your BlocX wallet for the difference between what you actually received and what you should have received.

  • Our not completing a transaction on time or in the correct amount, then we will be responsible to you for your losses or damages directly caused by this failure, unless: 
    - through no fault of ours, you did not have enough available funds to complete the transaction;
    - our system was not working properly and you knew about the breakdown when you started the transaction; or
    - the error was due to extraordinary circumstances outside our control (such as fire, flood or loss of Internet connection), despite our reasonable precautions.

COMMUNICATIONS BETWEEN YOU AND US

If you provide us your mobile phone number, you agree that BlocX and its affiliates may contact you at that number using autodialed or prerecorded message calls or text messages to: (i) service your BlocX branded wallets, (ii) investigate or prevent fraud, or (iii) collect a debt. We will not use autodialed or prerecorded message calls or texts to contact you for marketing purposes unless we receive your prior express written consent. We may share your mobile phone number with service providers with whom we contract to assist us with the activities listed above, but we will not share your mobile phone number with third parties for their own purposes without your consent. You do not have to agree to receive autodialed or prerecorded message calls or texts to your mobile phone number in order to use and enjoy the products and services offered by BlocX. 


 

BlocX may communicate with you about your BlocX wallet and the BlocX services electronically. You will be considered to have received a communication from us, if it’s delivered electronically, 24 hours after the time we post it to our website or email it to you. You will be considered to have received a communication from us, if it’s delivered by mail, 3 Business Days after we send it. 

 

You understand and agree that, to the extent permitted by law, BlocX may, without further notice or warning, monitor or record telephone conversations you or anyone acting on your behalf has with BlocX or its agents for quality control and training purposes or for our own protection. You acknowledge and understand that while your communications with BlocX may be overheard, monitored, or recorded not all telephone lines or calls may be recorded by BlocX, and BlocX does not guarantee that recordings of any particular telephone calls will be retained or retrievable.

BLOCX'S RIGHTS

BlocX suspension and termination rights

BlocX, in its sole discretion, reserves the right to suspend or terminate this user agreement, access to or use of its websites, software, systems (including any networks and servers used to provide any of the BlocX services) operated by us or on our behalf or some or all of the BlocX services for any reason and at any time upon notice to you and, upon termination of this user agreement, the payment to you of any unrestricted funds held in your BlocX wallet.

Security interest

As security for the performance of your obligations under this user agreement, you grant to BlocX a lien on, and security interest in and to, funds held in your BlocX wallet.

Amounts owed to BlocX

If the balance in your BlocX wallet becomes negative for any reason, that negative balance represents an amount that you owe to BlocX. BlocX may deduct these amounts from funds that are added to your BlocX wallet later, either by you or from payments you receive. If you have more than one BlocX wallet, we may set off a negative balance in one BlocX wallet against a balance in your other BlocX wallet(s), including a Cash Wallet. If you continue using your BlocX wallet when it has a negative balance, you authorize BlocX to combine the negative balance with any debit or transaction sent from your wallet when that combination is disclosed to you in advance of initiating the debit or transaction.

If you hold funds in a BlocX wallet in multiple currencies, and the balance for one of the currencies becomes negative for any reason, 

Insolvency proceedings

If any proceeding by or against you is commenced under any provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, we’ll be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this user agreement.

Assumption of rights

If BlocX invalidates and reverses a payment that you made to a recipient (either at your initiative or otherwise), you agree that BlocX assumes your rights against the recipient and third parties related to the payment, and may pursue those rights directly or on your behalf, in BlocX's discretion.

No waiver

Our failure to act with respect to a breach of any of your obligations under this user agreement by you or others does not waive our right to act with respect to subsequent or similar breaches.

Indemnification and Limitation of Liability

In this section, we use the term “BlocX” to refer to BlocX, Inc., our parent BlocX Holdings, Inc., and our affiliates, and each of their respective directors, officers, employees, agents, joint venturers, service providers and suppliers. Our affiliates include each entity that we control, we are controlled by or we are under common control with.

Indemnification 

You must indemnify BlocX for actions related to your BlocX wallet and your use of the BlocX services. You agree to defend, indemnify and hold BlocX harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party due to or arising out of your breach of this user agreement, your improper use of the BlocX services, your violation of any law or the rights of a third party and/or the actions or inactions of any third party to whom you grant permissions to use your BlocX wallet or access our websites, software, systems (including any networks and servers used to provide any of the BlocX services) operated by us or on our behalf, or any of the BlocX services on your behalf.

Limitation of liability

BlocX’s liability is limited with respect to your BlocX wallet and your use of the BlocX services. In no event shall BlocX 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 with our websites, software, systems (including any networks and servers used to provide any of the BlocX services) operated by us or on our behalf, any of the BlocX services, or this user agreement (however arising, including negligence), unless and to the extent prohibited by law.

Our liability to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, BlocX is not liable, and you agree not to hold BlocX 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 of, or your inability to use, our websites, software, systems (including any networks and servers used to provide any of the BlocX services) operated by us or on our behalf, or any of the BlocX services; (2) delays or disruptions in our websites, software, systems (including any networks and servers used to provide any of the BlocX services) operated by us or on our behalf and any of the BlocX 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 BlocX services) operated by us or on our behalf or any of the BlocX services or any website or service linked to our websites, software or any of the BlocX 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 BlocX services) operated by us or on our behalf or any of the BlocX 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 BlocX wallet; or (7) your need to modify your practices, content, or behavior, or your loss of or inability to do business, as a result of changes to this user agreement or BlocX’s policies.

DISCLAIMER OF WARRANTY AND RELEASE

No warranty

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

BlocX does not have any control over the products or services provided by sellers who accept BlocX as a payment method, and BlocX cannot ensure that a buyer or a seller you are dealing with will actually complete the transaction or is authorized to do so. BlocX does not guarantee continuous, uninterrupted or secure access to any part of the BlocX services, and operation of our websites, software, or systems (including any networks and servers used to provide any of the BlocX services) operated by us or on our behalf may be interfered with by numerous factors outside of our control. BlocX will make reasonable efforts to ensure that requests for electronic debits and credits involving bank wallets, debit cards, credit cards, and check issuances are processed in a timely manner but BlocX makes no representations or warranties regarding the amount of time needed to complete processing because the BlocX services are dependent upon many factors outside of our control, such as delays in the banking system or the U.S. or international mail service. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you.

Release of BlocX

If you have a dispute with any other BlocX wallet holder, you release BlocX 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.

Agreement to Arbitrate

You and BlocX agree that any claim or dispute at law or equity that has arisen or may arise between us will be resolved in accordance with the Agreement to Arbitrate provisions set forth below. Please read this information carefully. Among other things it:

  • Affects your rights and will impact how claims you and we have against each other are resolved.

  • Includes a Prohibition of Class and Representative Actions and Non-Individualized Relief pursuant to which you agree to waive your right to participate in a class action lawsuit against us.

  • Requires you to follow the Opt-Out Procedure to opt-out of the Agreement to Arbitrate by mailing us a written notice and the opt-out notice must be postmarked no later than 30 days after the date you accept this user agreement for the first time.

If a dispute arises between you and BlocX, acting as either a buyer or a seller, our goal is to learn about and address your concerns. If we are unable to do so to your satisfaction, we aim to provide you with a neutral and cost effective means of resolving the dispute quickly. Disputes between you and BlocX regarding the BlocX services may be reported to customer service online through the contact BlocX customer service.

INTELLECTUAL PROPERTY

BlocX’s trademarks

"BlocX.com," "BlocX," and all logos related to the BlocX services are either trademarks or registered trademarks of BlocX or BlocX's licensors. You may not copy, imitate, modify or use them without BlocX's prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of BlocX. You may not copy, imitate, modify or use them without our prior written consent. You may use HTML logos provided by BlocX for the purpose of directing web traffic to the BlocX services. You may not alter, modify or change these HTML logos in any way, use them in a manner that mischaracterizes BlocX or the BlocX services or display them in any manner that implies BlocX's sponsorship or endorsement. All right, title and interest in and to the BlocX websites, any content thereon, the BlocX services, the technology related to the BlocX services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of BlocX and its licensors.

License grants, generally

If you are using BlocX software such as an API, developer's toolkit or other software application, which may include software provided by or integrated with software, systems or services of our service providers, that you have downloaded or otherwise accessed through a web or mobile platform, then BlocX grants you a revocable, non-exclusive, non-sublicensable, non-transferable, royalty-free limited license to access and/or use BlocX's software in accordance with the documentation accompanying such software. This license grant applies to the software and all updates, upgrades, new versions and replacement software. You may not rent, lease or otherwise transfer your rights in the software to a third party. You must comply with the implementation, access and use requirements contained in all documentation accompanying the BlocX services. If you do not comply with implementation, access and use requirements you will be liable for all resulting damages suffered by you, BlocX and third parties. BlocX may update or discontinue any software upon notice to you. While BlocX may have (1) integrated certain third party materials and technology into any web or other application, including its software, and/or (2) accessed and used certain third party materials and technology to facilitate providing you with the BlocX Services, you have not been granted and do not otherwise retain any rights in or to any such third party materials. You agree not to modify, alter, tamper with, repair, copy, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the software or any third party materials or technology, or otherwise create any derivative works from any of the software or third party materials or technology. You acknowledge that all rights, title and interest to BlocX’s software are owned by BlocX and any third party materials integrated therein are owned by BlocX’s third party service providers. Any other third party software application you use on the BlocX websites is subject to the license you agreed to with the third party that provides you with this software. You acknowledge that BlocX does not own, control nor have any responsibility or liability for any such third party software application you elect to use on any of our websites, software and/or in connection with the BlocX services.

License grant from you to BlocX; intellectual property warranties

BlocX does not claim ownership of the content that you provide, upload, submit or send to BlocX. Nor does BlocX claim ownership of the content you host on third-party websites or applications that use BlocX services to provide payments services related to your content. Subject to the next paragraph, when you provide content to BlocX or post content using BlocX services, you grant BlocX (and parties that we work with) a non-exclusive, irrevocable, royalty-free, transferable, and worldwide license to use your content and associated intellectual property and publicity rights to help us improve, operate and promote our current services and develop new ones. BlocX will not compensate you for any of your content. You acknowledge that BlocX’s use of your content will not infringe any intellectual property or publicity rights. Further, you acknowledge and warrant that you own or otherwise control all of the rights of the content you provide, and you agree to waive your moral rights and promise not to assert such rights against BlocX.

License grant from sellers to BlocX

Notwithstanding the provisions of the prior paragraph, if you are a seller using the BlocX services to accept payments for goods and services, you hereby grant BlocX and its affiliates a worldwide, non-exclusive, transferable, sublicensable (through multiple tiers), and royalty-free, fully paid-up, right to use and display publicly, during the term of this user agreement, your trademark(s) (including but not limited to registered and unregistered trademarks, trade names, service marks, logos, domain names and other designations owned, licensed to or used by you) for the purpose of (1) identifying you as a merchant that accepts a BlocX service as a payment form, and (2) any other use to which you specifically consent.

MISCELLANEOUS

Assignment

You may not transfer or assign any rights or obligations you have under this user agreement without BlocX's prior written consent. BlocX may transfer or assign this user agreement or any right or obligation under this user agreement at any time.

Business Days

“Business Day(s)” means Monday through Friday, excluding holidays when BlocX’s offices are not considered open for business in the U.S. Holidays include New Year's Day (January 1), Martin Luther King, Jr.’s Birthday (the third Monday in January), George Washington's Birthday (the third Monday in February), Memorial Day (the last Monday in May), Independence Day (July 4), Labor Day (the first Monday in September), Columbus Day (the second Monday in October), Veterans Day (November 11), Thanksgiving Day (the fourth Thursday in November) and Christmas Day (December 25). If a holiday falls on a Saturday, BlocX observes the holiday on the prior Friday. If the holiday falls on a Sunday, BlocX observes the holiday on the following Monday.

Consumer fraud warning

We’re always looking for ways to help keep you even more secure. So stay on the lookout for some of these common scams:

  • Spoofing: a scammer sends forged or faked electronic documents or emails falsely claiming to be BlocX or coming from BlocX but asks you to send funds outside your BlocX wallet.

  • Relative in Need: a scammer impersonates a family member (commonly grandchildren) and claims there is an emergency requiring you to send money.

  • Lottery or Prize: a scammer informs you that you’ve won a lottery or prize and must send funds in order to claim it.

  • Debt Collection: a scammer impersonates a debt collector and induces you to send funds using threats or intimidation.

  • Employment Related: a scammer instructs you to send funds in connection with a fraudulent offer of employment.

Always use common sense when sending money. If something sounds too good to be true, it probably is. Only send funds for yourself and not for others. Remember that if you don’t send the payment through your BlocX wallet, you’re not covered by BlocX Purchase Protection. Please let us know immediately if you believe someone is trying to scam or defraud you by contacting us.

Dormant wallets

If you do not log in to your BlocX wallet for two or more years, BlocX may close your BlocX wallet and send any funds in the BlocX wallet, including any balance in a linked Cash Wallet to your primary address (if we have verified the required identifying information that you have provided to us) or, if required, escheat (send) those funds to your state of residency. BlocX will determine your state of residency based on the state listed in the primary address for your BlocX wallet. If your address is unknown or registered in a foreign country, the funds in your BlocX wallet, including any balance in a linked Cash Wallet will be escheated to the State of Delaware. Where required, BlocX will send you a notice prior to escheating any funds in your BlocX wallet, including any balance in a linked Cash Wallet. If you fail to respond to this notice, the funds in your BlocX wallet, including any balance in a linked Cash Wallet will be escheated to the applicable state. If you would like to claim any escheated funds from the applicable state, please contact the applicable state’s unclaimed property administrator.

Governing law

You agree that, except to the extent inconsistent with or preempted by federal law and except as otherwise stated in this user agreement, the laws of the State of Delaware, without regard to principles of conflict of laws, will govern this user agreement and any claim or dispute that has arisen or may arise between you and BlocX.

Identity authentication

You authorize BlocX, directly or through third parties, to make any inquiries we consider necessary to verify your identity. This may include:

  •  asking you for further information, such as your date of birth, a taxpayer identification number, your physical address and other information that will allow us to reasonably identify you;

  •  requiring you to take steps to confirm ownership of your email address or financial instruments;

  •  ordering a credit report from a credit reporting agency, or verifying your information against third party databases or through other source; or

  •  requiring you to provide your driver’s license or other identifying documents.

Anti-funds laundering and counter-terrorism financing laws may require that BlocX verify the​ required identifying information if you use certain BlocX services. BlocX reserves the right to close, suspend, or limit access to your BlocX wallet and/or the BlocX services in the event that, after reasonable enquiries, we are unable to obtain information about you required to verify your identity.

BlocX is only a payment service provider

We act as a payment service provider only. We do not:

  • Act as an escrow agent with respect to any funds kept in your wallet;

  • Act as your agent or trustee;

  • Enter into a partnership, joint venture, agency or employment relationship with you;

  • Guarantee the identity of any buyer or seller;

  • Determine if you are liable for any taxes; or

  • Unless otherwise expressly set out in this agreement, collect or pay any taxes that may arise from your use of our services.

Privacy

Protecting your privacy is very important to us. Please review our Privacy Policy in order to better understand our commitment to maintaining your privacy, as well as our use and disclosure of your information.

Unlawful internet gambling notice

Restricted transactions as defined in Federal Reserve Regulation GG are prohibited from being processed through your BlocX wallet or your relationship with BlocX. Restricted transactions generally include, but are not limited to transactions in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with unlawful Internet gambling.

Your use of information; Data protection laws

If you receive information about another BlocX customer, you must keep the information confidential and only use it in connection with the BlocX services. You may not disclose or distribute any information about BlocX users to a third party or use the information for marketing purposes unless you receive that user’s express consent to do so. You may not send unsolicited emails to a BlocX customer or use the BlocX services to collect payments for sending, or assist in sending, unsolicited emails to third parties.

To the extent that you (as a seller) process any personal data about a BlocX customer pursuant to this agreement, you agree to comply with the requirements of any applicable privacy and data protection laws. You have your own, independently determined privacy policy, notices and procedures for any such personal data that you hold as a data controller, including a record of your activities related to processing of personal data under this agreement.

CONTACT US

BlocX, LLC

311 West 43d Street New York NY 10036

customer.service@blocxcorp.com

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