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Terms and Conditions of Use

   I.        General

This contract is intended to establish the Agreements and Conditions for use of the website and the services offered by Pagadito, Sociedad de Responsabilidad Limitada, a company incorporated under the laws of the Republic of Panama, in the website www. pagadito.com or the various websites redirected to it from various ccTLD (Country Code Top Level Domain), which henceforth will be referred to as “Pagadito”.

The Conventions set out in this document constitute a contract between any individual or company (hereinafter User or Users) wanting to use the Pagadito’s Payment Platform.

The User has agreed to this contract so that:

a) Pagadito, in behalf of the User, makes payment and/or collection of a Product or Service purchased through a sales transaction at any Pagadito Comercio,

b) The User may transfer the Balance from his/her Mi Pagadito Account to Mi Pagadito Accounts of other Users,

c) The User may reload his/her Pagadito Account through one or more credit and/or debit cards,

d) The User may make withdrawals from his/her Pagadito Account balance.

These Agreements and Conditions of Use describe the rights and responsibilities of the User and Pagadito to use the Platform of Payments and any related products or services offered by Pagadito.

The User must read, understand and accept all the conditions set forth herein and other policies and principles that comprise it, before its registration as User and it starts using Pagadito services. If the Agreements and Terms of Use and other Pagadito Policies are not accepted, people should refrain from using the services offered by Pagadito.

    II.        Registration

No one under 18, the hearing impaired who cannot make themselves understood beyond doubt, any suspended or canceled Pagadito Users, can register or use Pagadito, and in general, only all individuals with the capacity to acquire rights and undertake obligations on their own, without requiring the authorization of another person can register. For legal persons, whoever signs the contract for and on behalf of them, shall be the legitimate bearer of the legal and sufficient capacity therefor.

Pagadito services may be used in one's own behalf or on behalf or of third parties in the case of legal persons. No assignment of these to third parties is allowed, unless authorized by Pagadito.

Any person wishing to use Pagadito services must register Pagadito or fill the appropriate forms and accept these Terms and Conditions of Use and other policies.

To register with Pagadito it is necessary to complete the form provided, in all fields, with accurate, precise and true Personal Information ("Personal Information"). The User agrees to update the Personal Information as needed. All information entered by the User has the status of an Affidavit.

Then, in case of registering with Pagadito, it is required to validate the credit or debit cards and activate the Pagadito Account.

On the other hand, Pagadito reserves the right to:

a) Request receipts and/or additional information to confirm the information provided by a User. If the Personal Information cannot be verified, Pagadito may temporarily or permanently suspend the User.

b) Reject an application for registration or cancel or discontinue an account, temporarily or permanently, if it finds any inconsistencies in the information provided by the User or if it finds suspicious actions, without any compensation or restitution for the User

Pagadito is not responsible for the accuracy of Personal Information provided by its Users, so it is the Users who guarantee and respond, in any case, for the truthfulness, accuracy, validity and authenticity of personal information entered.  

For more information see Registration Policy.

   III.        Privacy of Information

User´s Personal Information will not be shared with other companies, except as provided in the Privacy Policy. Pagadito shall share information with providers of value-added services that integrate with Pagadito to provide better service to Users, and with companies that provide information on credit history and behavior of the Users, which is accepted by the User when signing these "Terms and Conditions of Use”.

The transmission of personal information is done through a secure website that offers protection and encrypting of the same. This information is stored on magnetic media using standard security procedures for the type of information stored.

Pagadito will maintain the confidentiality and security of Personal Information, but is not responsible if any third parties obtain it either on their own or illegally.

For further information see Privacy Policy.

     VI.        Pagadito Accounts

Upon registration with Pagadito, the User shall open an account "Pagadito Account" or "Account". The Pagadito Account shall entitle the User to make and receive payments as well as to receive and send funds by debiting or crediting money to the Account.

The User will access his/her Pagadito Account by entering his/her Nickname and chosen User Personal Password ("Password").

The User agrees to maintain the confidentiality of all his/her Passwords. Under this, the User shall be solely responsible for all transactions on his/her Account. Further, the User agrees to change his/her personal password if he/she suspects or becomes aware of any unauthorized use of his/her Account as well as the logging in or attempts to log in by unauthorized third parties.

     V.        Types of Account

Pagadito offers Users two types of accounts:

 1.      Pagadito eWallet

This account is available to anyone who registers with Pagadito, i.e. for people who want to use their account to make purchases at any Pagadito Commerce, provided they comply with the applicable requirements such as the provision of personal data.

 2.      Pagadito Comercio

Users who own businesses, i.e. individual traders and companies, who have a Pagadito Comercio shall have access to this type of account.

The Pagadito Account, whatever its class may be, is personal, unique and untransferable; it shall be assigned to a single User and it is not for resale, assignment or transfer of any title including reputation. The User shall not permit or authorize the use of his Account to third parties.

The Pagadito Account shall be designated in numbers and letters and any reference to money shall be made in Dollars of the United States of America.

    VI.        Payment Management Mandate

Payment Management Agreement

The User and Pagadito (the "Parties") may enter into management contracts for payment through a "Request for Payment". Through this contract Pagadito provides management or payment processing services according to instructions from the User, in order to pay or receive funds for and on behalf of the User, using the platform provided by Pagadito on Pagadito Comercios websites.

Payment Applications completed timely shall be governed by these Agreements and Terms of Use and other Pagadito Policies.

Irrevocable Mandate

When making a Payment Request, the User is granting an irrevocable mandate to Pagadito for:

1. Paying for and on behalf of the User, a specified amount of money (the "Funds") in relation to which the Application for Payment is completed, and/or

2. Collecting funds for and on behalf of the User, subject to the Pagadito Agreements and Terms of Use of and other policies.

Pagadito will not use the User’s Funds for purposes other than those instructed by the User.

Nature of the service

Pagadito provides payment management to its Users through a means of payment of his/her property. Pagadito is NOT a financial institution therefore it does not provide banking services; consequently, the funds credited to the Pagadito Account will not bear any interest assets. The User may use the funds at his/her own discretion and pursuant to these Agreements and Conditions of Use and other Pagadito Policies.

  VII.        Payment Procedure

1.     Request for Payment

The Request for Payment (Request) is the beginning of the collection and payment process through Pagadito. The request will be made by the User’s acceptance of a Request for Payment where detailed instructions regarding the use of the Funds are provided. Any link sent by a Pagadito Comercio, requesting payment or collection of amounts for obligations incurred by the Pagadito User constitutes a Request for Payment.

Pagadito reserves the right not to process requests that are incomplete or where there are differences between the information provided by Users and the information effectively entered in Pagadito’s system or because Pagadito deems it necessary, at its sole discretion. Payment instructions entered in a Request may be made only through Pagadito platform.

The Request for Payment shall not be deemed perfected and Pagadito does not assume any obligation under the request until Pagadito has accepted, received and all the Funds are available, including fees and applicable expenses.

Pagadito will not be responsible for any wrong or incomplete Requests for Payment and/or payments caused by the wrong entry of data in the Request caused by missing information relevant to the consignee or the payment transaction, or any other errors or omissions caused or incurred by the User.

2.     Charge of funds

Upon acceptance of the Pagadito’s Request the amounts will be charged automatically to the Pagadito Account or, if the funds are not available in Pagadito Account, the User will be asked to confirm a different way of payment associated with his Pagadito Account. 

The User agrees that when he opens a Pagadito account, he must register a credit or debit card, which is validated and then used to charge the amounts of the Requests for Payment.

3.     Payment of Funds

The deadline for the accreditation of Funds to the Pagadito User Account shall be made according to the User type as follows: A. For SubastaloTodo/InterMall Selling Users, accreditation or credit to his Account will be: a) At the expiry period for bringing a Claim Settlement Mechanism, b) The day after the Final report in which it has been ruled on behalf of the Selling User, in case the Claims Settlement Mechanism has been used, or c) Within 48 to 72 hours after the Purchasing  User successfully reports acceptance of the goods traded. B. For Pagadito Comercio, payment will be credited to his account within five business days after having received the payment from the Purchasing Pagadito Comercio.

Pagadito will make all reasonable efforts to ensure compliance with the terms mentioned above. However, the User understands that certain factors, mostly external and/or beyond Pagadito’s control, could cause delays, in which case the User holds Pagadito free from any liability because of any inconvenience or result.

Should Pagadito believe that a User may be using any irregular mechanisms to reload funds, Pagadito may unilaterally terminate this contract without any liability.

The User binds himself not to apply any additional charges for accepting payments or receiving funds through the Platform.

Limits

Pagadito will determine a maximum amount for the Requests of Payment Management, which may vary according to payment method, type of request and/or Pagadito's criteria and it may even be amended at any time for which publication in Pagadito will suffice.

VIII.        Liability of Parties

Pagadito is not responsible nor guarantees the fulfillment of the obligations undertaken by the Users with third parties relating to any payments to make or receive through Pagadito. The User acknowledges that when making transactions with other Users or third parties he is acting of his own free will, with his consent at his own risk. Pagadito will not be liable for any damages that the User may have had due to unrealized transactions through Pagadito.

On the other hand, and since Pagadito is detached of the obligation that gave rise to the Request for Payment Management, it will not be liable for such obligation, nor will verify the cause, size, or any other circumstances relating to that application as well as regarding the existence, quality, quantity, operation, condition, completeness or legality of the products or services offered or acquired by Users and paid through Pagadito, or the Users’ ability to recruit  and the accuracy of Personal Information entered by them.

Should one or more  Users or any third party file any legal action against one or more Users, each of the Users involved in such claims, holds Pagadito and its directors, officers, employees, agents, operators, representatives and assigns harmless from liability. The maximum liability accepted by Pagadito is to the amount charged for any services provided to a User in a specific transaction.

Pagadito will keep the funds of Pagadito Accounts as a deposit for third parties, separately, in a special bank account and use various trusted agents to transfer money, according to the Users' instructions.

Pagadito will only use banks with excellent international ranking, but shall not be liable in any case by the insolvency of the bank or financial institution or agent used to transfer funds or any regulatory change affecting the account to which funds are deposited by Pagadito. So, Users exonerate Pagadito, its affiliates or subsidiaries, holding and/or controlled companies of any conditions that could affect the banking, financial and/or agents where the funds of the accounts are deposited, as a result of economic policies that may arise and are beyond Pagadito. In such case, the User must give Pagadito all additional amounts necessary to enable it to fulfill its mandate.

Moreover, in the situation described above, Pagadito will have the right to choose the option that, at its option, may be the most convenient choice even for those it considers most appropriate in order to settle quickly, easily and ordered the funds deposited in the Bank although it may involve rebates, commissions or waiting on the amounts deposited.

Pagadito does not guarantee the admission and continuous use of its platform and everything it includes, therefore it will not award any compensation arising from the claim of such failures, yet the User is encouraged to contact the Pagadito team via the form provided on site to report any disagreement. The User releases Pagadito from any liability for damages and/or loss of profit.

    IX.        Rates

To learn about the charges for using the Pagadito Platform to collect, pay, send and receive money and other charges for operating through Pagadito, see Charges.

     X.        Prohibitions

The operations carried out through Pagadito must not violate applicable laws, this Terms and Conditions of Use. Among other activities, it is prohibited to use Pagadito for gambling, trafficking in arms, people, animals, drugs or substances, money laundering and/or terrorism, pornography, prostitution, white slavery, pedophilia, any type of business that may be considered fraudulent or illegal or suspicious.

It is strictly forbidden to use Pagadito for Cash Advance or loans, i.e. those transactions in which it is perceived that a User adds funds to his account and withdraws the funds or if a first User makes a request for Payment Management on behalf of a second party, who later performs for the first a new request for Payment Management or transfer of funds, being the first the one who finally withdraws the funds.

When Pagadito believes that its services have been used to carry out prohibited activities, it may reject, cancel or suspend a Request for Payment Management, limit access and use of an account or permanently cancel an account, without any liability. This is without prejudice to legal actions that may be done by Pagadito against the offending User.

Users are solely responsible for the damages that their conduct might cause Pagadito, his controlling, controlled, affiliates or subsidiaries, officers, employees, directors, agents and/or other  Users, therefore it shall be liable for damages that might result.

To learn more about prohibited activities see Restricted Activities.

    XI.        Claims Settlement Mechanisms

Where there are claims of a User the Claims Settlement Mechanism implemented by Pagadito must be activated. To do this the User will fill out a Claims Form, indicating the reasons for his claim. Upon receiving the request, Pagadito will check its history, examine the case, solve the problem within a maximum of 3 business days and take corrective measures in the shortest possible time.

  XII.        Intellectual Property Rights

Pagadito, its controllers, controlled, affiliates and/or subsidiaries own all intellectual property rights on its Website and its content, codes, software, hardware, domain name, logos, trademarks, symbols, designs, structure, bases data, their content and information, and others that Pagadito may acquire from time to time.

The User expressly acknowledges that he has NO right over them. Pagadito only allows the Selling User to use the Sales tools it shall make available, and for the sole purpose of carrying out the transactions described in this Agreement. Pagadito only allows the Selling User to use its Intellectual Property with regard to the Sales Tools made available to the Selling User, to carry out the activities arising from this Agreement.

 XIII.        Changes to the Agreements and Terms of Use and other Pagadito policies

Pagadito reserves the right to change or renew at any time this agreement and other policies. These modifications will be made public to Users through a notice and/or by posting them on the website.

The User has 5 calendar days after receipt of notice to indicate whether or not to accept the changes. If the User accepts the changes, the agreement will be resolved. Silence by the User will assume acceptance of the changes.

 XIV.        Grounds for termination of this Agreement

This Agreement may be terminated by mutual agreement between Pagadito and the User without any reason whatsoever. This involves the cancellation of User's Account, leaving in force any existing compliance obligations.

This Agreement may be terminated unilaterally by Pagadito, exercising its sole discretion, with notice to the User when there are breaches by the User to the laws described in this Agreement and other Pagadito policies. All this without prejudice to legal actions Pagadito may assume.

   XV.        Recordings and transcripts of Pagadito

The User may make copies of this Agreement and its components. The User authorizes Pagadito and/or whoever Pagadito may designate to keep a record of transactions made within the site and use them as evidence in the relevant agencies.

User acknowledges as full proof of the operations performed, the internal electronic records Pagadito may store on its system to record client changes and amounts arising from the operations and therefore balances Pagadito may certify based on such information and for this purpose.

The certificates issued by Pagadito are a receipt and are enforceable against the User.

XVI.           Notices

Notices will be valid if they are made to the primary email address provided by Users upon registration in Pagadito.

 XVII.        Official time

The official time of Pagadito is GMT-5 (Panama), so that all transactions through the platform shall comply with the above hours regardless of the country from which such transactions occur.

XVIII.      Governing Law

This agreement is governed by the laws of the Republic of Panama. The User gives up his domicile and for purposes of this agreement sets the city of Panama as its special address, and submits itself to the jurisdiction and laws of the Republic of Panama. Pagadito, S. de R.L. domicile is Panama City, Republic of Panama.

XIX.           Annexes

The following are part of this Agreement and therefore linked to the acceptance of individual Pagadito policies and guidelines:

Registration Policy

Privacy Policy

Restricted activities in Pagadito

Types of Users and Accounts

Payment Agreement

Payment Policy

Policy for Reloading, Transfers and Withdrawals

Charges

Claims Settlement Mechanisms

Chargeback Policy