Virtual Currency Terms of Service

Last Updated: August 14, 2020

These Virtual Currency Terms of Service (the “Virtual Currency Terms”) govern your use as an individual of the Virtual Currency (as defined below) and Perk Hero Coins services offered by Perk Hero Software Inc. (the “Company,” “we,” “our,” or “us”). By accessing or using any services provided by the Company, including the Virtual Currency services (collectively, the “Services”), you agree to be bound by these Virtual Currency Terms of Service, the User Terms of Service found at https://perkhero.com/terms-conditions/, and all other terms, policies, and guidelines applicable to the Services (collectively, the “Agreement”).

If you have any questions regarding the use of the Services, please contact our Support Center.

1. Definitions

Capitalized terms not otherwise defined in these Virtual Currency Terms of Service will have the following meanings:

“App” means the Perk Hero Application which provides a mobile payments and loyalty solution and is available for download on the App Store for iOS devices and Google Play for Android devices.

“Conversion Price” means the price of Virtual Currency in terms of Fiat currency as listed on the Perk Hero App at the time the Company receives your Fiat currency in exchange for your purchase of Perk Hero Coins. You agree, as a condition of buying Perk Hero Coins through the App, to accept the conversion rate as the sole conversion metric.

“Perk Hero Coins” represent a credit that can be used at Perk Hero merchants.

“Virtual Currency” means virtual currencies that the Company may offer from time to time, which may include Perk Hero Coins.

2. The Services – Buying Perk Hero Coins 

2.1 The App is a payment gateway and is not intended for the use of exchanging cash or cash equivalents. By providing the Services, the Company allows you to purchase a credit in the form of “Perk Hero Coins” which can be used at certain merchants within the App. We are not a crypto exchange, wallet, or a place to purchase or sell cryptocurrencies, or a money services business. The sale and/or exchange of currencies using our services is prohibited.

2.2 Funding
In order to complete a purchase transaction via the Services, you must first have a Perk Hero Pay Account. A “Buy” transaction is a sale of Perk Hero Coins from the Company to you in exchange for the amount of Virtual Currency transferred by You to the Company at the Conversion Price. Once complete, your Perk Hero Coin Balance will reflect the amount of Perk Hero Coins that You own.

2.3 Conditions and Restrictions
We may, at any time and in our sole discretion, refuse any transaction, including any purchase or sale request submitted via the Services, impose limits on the amount of Perk Hero Coins you can purchase via the Services or impose any other conditions or restrictions upon your use of the Services, without prior notice. We may also make the purchase of Perk Hero Coins in the App unavailable at any time, in our sole discretion. If the Services are unavailable, any purchase or sale requests you may have submitted for such Perk Hero Coins will be cancelled. The act of purchasing Perk Hero Coins from the Company does not result in a guarantee that you may purchase Perk Hero Coins from the Company at a later time. Perk Hero Coins may expire after 12 months from the date of purchase without any liability to the Company.

2.5 Transaction Settlement
We will use commercially reasonable efforts to complete transactions within two days of the date upon which you have initiated a “Buy” transaction of Perk Hero Coins via the Services.

3. Rights and Obligations
The Company provides the Services solely on the terms and conditions set forth in the Agreement and on the condition that You accept and comply with them. By using the Services You (a) accept this Agreement and agree that You are legally bound by its terms; and (b) represent and warrant that You are of legal age to enter into a binding agreement.

4. Eligibility and Identity Verification

4.1 Eligibility
You must (a) be an individual person, not an entity, using the Services for personal use, (b) be a resident of Canada, (c) be at least 18 years, and the age of majority in your Province of residence, or older to use the Services, and (d) use the Services in Canada.

4.2 Identity Verification

In order to use certain features of the Services, including the purchase of Perk Hero Coins using Virtual Currency, you may be required to provide the Company with certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, and source of funds  In submitting this or any other personal information as may be required, you verify that the information is accurate and authentic, and you agree to update the Company if any information changes.

4.3 Availability

The Company may not make all of the Services available in all markets and jurisdictions, and may restrict or prohibit use of all or a portion of the Services from certain states, territories, or jurisdictions (“Restricted Locations”).  You must not attempt to use our Services if you are located in any of those Restricted Locations. You must not attempt to circumvent any restrictions imposed via the Services, such as by obscuring your IP address or submitting any inaccurate information regarding your location.

5. Making Purchases in the Perk Hero App using Perk Hero Coins

When making a purchase using Perk Hero Coins, a minimum of amount $0.50 towards the transaction must be contributed from another source such as your credit card, Apple Pay wallet, or Google Pay Wallet. The Company reserves the right to make certain goods and services not eligible for Perk Hero Coin redemption.

6. Daily Transaction Volume Limits

The Company imposes a daily transaction processing limit of Perk Hero Coins in the equivalent amount of CAD $500. At the Company’s discretion, and based on the Company’s risk assessment of Your transaction history and behaviours, transaction capabilities may not be enabled until additional documentation or information regarding You are collected and verified. Requests to increase your processing limit will not be approved unless and until we have reviewed your documentation to our satisfaction and have confirmed the accuracy and authenticity of the information therein.

7. Transaction History

Transaction information will be reflected in your Transaction History in the App. You agree that the failure of the Services to provide such confirmation shall not prejudice or invalidate the terms of such transaction.

8. Final
Transactions for the purchase of Perk Hero Coins are final. Once you purchase Perk Hero Coins, the transaction cannot be reversed.

9. No functionality to sell Virtual Currency through the App
You understand and agree that you cannot sell Virtual Currency through the App.

10. Our Right to Reject

We reserve the right to decline to process a sale if we reasonably believe that it violates these Terms or would expose you, other merchants, Purchasers, or other parties to harm. If we decline your purchase or transfer, you will bear the costs related to any conversion or exchange fees. If we reasonably suspect that your Perk Hero account has been used for an illegal purpose, you authorize us to share information about you, your Perk Hero account, and your account activity with law enforcement.

11. Taxes

It is your responsibility to determine what, if any taxes may apply to the transactions you complete under the Services and it is your responsibility to report and remit the appropriate tax to the relevant taxing authorities. You agree that we are not responsible for determining whether taxes apply to Your transactions under the Services. To the extent obligated by the relevant taxing authorities that we are required to deduct or withhold any amounts from payment, we will make the required payment net of such taxes. Any amounts so withheld will be treated as having been paid for all purposes of this Agreement. You certify the information provided to the Company is accurate and consent to the Company using such information as is necessary to fulfill the Company’s federal, provincial and local tax payment or withholding purposes and tax filing obligations.

12. Risks Inherent to Virtual Currency

You acknowledge and agree to the following: (a) the Company shall not be held liable for any fraudulent or accidental transactions, (b) Virtual Currency is not legal tender and is not backed by a government or central bank and the Company is not a bank. As such, there is no protection, such as deposit insurance, to cover any losses associated with Virtual Currency, (c) legislative and regulatory changes or actions at the provincial, federal or international level may adversely affect the use, transfer, exchange, and value of Virtual Currency and choosing to participate in Virtual Currency is at your own risk, (d) Virtual Currency is a target for fraud and the potential for fraud is especially likely when you engage in transactions with external Virtual Currency addresses, (e) Virtual Currency is a target for hackers and hacking can occur even when you use the strongest security settings and as such your Virtual Currency may be irretrievably stolen, (f) the value of Virtual Currency may be derived from the continued willingness of market participants to exchange Fiat Currency for Virtual Currency, which may result in the potential for permanent and total loss of value of a particular Virtual Currency should the market for that Virtual Currency disappear, (h) there is no assurance that a person who accepts Virtual Currency as payment today will continue to do so in the future.

13. Disruption Events

In the event of a market disruption or Force Majeure Event (as defined below), we may do one or more of the following: (a) suspend access to the Services; or (b) prevent you from completing any actions via the Services. We will not be liable for any losses suffered by you resulting from such actions. Following any such event, when Services resume, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event

14. Indemnification

You agree to indemnify the Company, its affiliated and related entities, and any of its officers, directors, employees and agents from and against any claims, costs, losses, liabilities, damages, expenses and judgments of any and every kind (including, without limitation, costs, expenses, and reasonable legal fees) arising out of, relating to, or incurred in connection with any claim, complaint, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises or relates to: (a) any actual or alleged breach of your representations, warranties, or obligations set forth in these Terms; (b) your wrongful or improper use of the Services; (c) the products or services sold by you through the Services, including but not limited to any claims for false advertising, product defects, personal injury, death or property damage; or (d) any other party’s access or use of the Services with your account information

15. Limitation of Liability

IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OR ANY LOSS, THEFT, DISAPPEARANCE, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST DATA OR OTHER INTANGIBLE LOSSES THAT RESULT FROM THE USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE SERVICES, REGARDLESS OF THE FORM OF ACTION AND WHETHER OR NOT WE KNEW THAT SUCH DAMAGE MAY HAVE BEEN INCURRED. IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING, VIRUS TRANSMISSION OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICES, YOUR PERK HERO ACCOUNT, OR ANY INFORMATION CONTAINED THEREIN. IN NO EVENT WILL OUR LIABILITY FOR ANY DAMAGES ARISING IN CONNECTION WITH THE SERVICES EXCEED THE FEES EARNED BY US IN CONNECTION WITH YOUR USE OF THE SERVICES DURING THE 6 MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY. THE FOREGOING LIMITATIONS OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION

16. Suspension; Termination; Discontinuance of Services

16.1 Suspension, Termination, Discontinuance of your Access. We may suspend your access to all or a portion of our Services. We may terminate your access to the Services in our sole discretion, immediately and without prior notice, and delete or deactivate your Perk Hero Account and all related information and files in such account without liability to you, including, for instance, in the event that you breach any term of these Terms.

16.2 Notice

If we suspend or close your account, or terminate your use of the Services for any reason, we will provide you with notice of our actions unless a court order or other legal process prohibits us from providing you with such notice. You acknowledge that the Company’s decision to take certain actions, including limiting access to, suspending, or closing your account, may be based on confidential criteria that are essential to the Company’s risk management and security protocols. You agree that the Company is under no obligation to disclose the details of its risk management and security procedures to you.

17. Choice of Law

This Agreement, and its application and interpretation, shall be governed exclusively by the laws of the Province of British Columbia, without regard to its conflict of law rules. You consent to the exclusive jurisdiction of the courts located in or near Vancouver, British Columbia for any dispute arising under this Agreement.

18. Severability

In the event any court shall declare any section or sections of this Agreement invalid or void, such declaration shall not invalidate the entire Agreement and all other paragraphs of the Agreement shall remain in full force and effect.

Contact information for the Company’s Privacy Officer:
Norman Tan
[email protected]
555 Burrard Street
Two Bentall Centre, Suite 1755
Vancouver, BC

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