Terms of Service

Your use of the VeriMoney.com web site and service constitutes your agreement without modification to all of the following terms, conditions and notices. If you do not agree with our Terms of Service, your sole remedy is to discontinue your use of this web site and service.

Availability of Services

The Services defined on this web site are available only in the United States and other countries where permitted by law. Services may not be available in all geographic areas. All Services are subject to change without notice.

Services Provided

You agree that VeriMoney is not an escrow agent or escrow company. You agree the funds move between VeriMoney members as payments for bonafide goods and services provided by sellers to buyers. You agree that VeriMoney may require proof and documentation to support the business purpose of any transaction. You agree that VeriMoney.com is your agent for negotiation, funds allocation, remittance release, and dispute resolution for transactions in which you participate using the VeriMoney.com web site. You agree that VeriMoney is not the vendor or buyer in any transaction. You agree that any necessary information required by law to be gathered in a business transaction will be exchanged directly between you and your transaction partner and VeriMoney.com is not a party to the transaction.

Payment of Funds

VeriMoney will follow accepted business procedures to pay out eligible requested funds to service members. A minimum of two full banking days must pass from the time funds are received until they are eligible to be withdrawn from VeriMoney. VeriMoney may require electronic funds withdrawal based on amounts and account activity. VeriMoney reserves the right to perform reasonable due diligence to verify activity before releasing funds. VeriMoney is NOT responsible for any delays in member receipt of the funds for any reason including processing delays, postal delivery, banking service time, errors in transmission, or errors in information provided to VeriMoney by member. VeriMoney sole responsibility is to affect the transfer of member funds in a business like manner using the information provided by member. VeriMoney has no responsibility to verify the correctness of such information. You agree to notify VeriMoney.com in writing of any discrepancy detected in a transfer of funds to you within 15 days of your request for funds. Such notice MUST be in writing and sent to VeriMoney.com at 747 S. Brea Blvd. #31 Brea, CA 92821 USA.

Safety of Funds

You are not required to hold monetary balances that you receive in your VeriMoney Account (your "Balance"). If you end up with a Balance, your funds will be co-mingled and held with other participants' funds in one or more pooled accounts at one or more FDIC-insured banks by us on your behalf and for the benefit of you and others holding balances (each a "Pooled Account"). US dollar balances held in the pooled account are eligible for FDIC pass-through insurance, meaning that your Balance may be insured up to the FDIC maximum, which is currently $250,000. We have sole discretion over the establishment and maintenance of any pooled account. Funds associated with your VeriMoney Account will at all times be held separate from our corporate funds. We will not use your funds for our corporate purposes (including the granting of any security or similar interest), will not voluntarily make funds available to our creditors in the event of bankruptcy or for any other purpose, and will not knowingly permit our creditors to attach the funds. You will not receive interest or any other earnings on any funds that we handle for you. As consideration for using the Services, you irrevocably assign to us all rights and legal interests to any interest and/or other earnings that may accrue or are attributable to our holding of your Balance in a pooled account or Reserve.

Dispute Resolution

You agree that VeriMoney.com is the final arbitrator of any dispute arising between any buyer and seller conducting a transaction using the VeriMoney service. The decision of VeriMoney.com is binding on both parties to the transaction. You agree to cooperate with VeriMoney.com and their designated representatives in resolving any such disputes. This cooperation shall include, but not be limited to, providing access to any goods referenced in a transaction or to the site of any service performed in a transaction during normal business hours, maintaining and providing VeriMoney.com any supporting records including advertisements for goods and services, listings and original offers whether printed or electronic, shipping documents, packing lists, packing materials, and documents or agreements or proposals separate from the electronic records of the VeriMoney site. You agree that VeriMoney may resolve a dispute at their discretion by paying the funds due to seller, less normal charges, and refunding funds submitted by buyer; and taking title and control of the goods delivered in the transaction.

Currency Conversion

When a currency conversion is required, it will be completed at a foreign exchange rate determined by a licensed financial institution, which is adjusted regularly based on market conditions. The exchange rate is adjusted regularly and may be applied immediately and without notice to you. The exchange rate includes 2.5% processing fee above the wholesale exchange rate at which VeriMoney obtains foreign currency, and the processing fee is retained by VeriMoney.

No Unlawful or Prohibited Use

As a condition of your use of this web site, you warrant to VeriMoney.com that you will not use this web site or any information contained on the web site for any purpose that is unlawful or prohibited by these Terms of Service or in violation of any law of the United States of America or the country from which you access this web site and that you will not access this web site or use materials or services available on this web site from territories where such access or use is illegal. You may not use the VeriMoney service for activities that:

  1. violate any law, statute, ordinance or regulation.

  2. relate to transactions involving (a) narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety, (b) drug paraphernalia, (c) items that encourage, promote, facilitate or instruct others to engage in illegal activity, (d) stolen goods including digital and virtual goods (e) items that promote hate, violence, racial intolerance, or the financial exploitation of a crime, (f) items that are considered obscene, (g) items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction, (h) certain sexually oriented materials or services, (i) ammunition, firearms, or certain firearm parts or accessories, or (j) ,certain weapons or knives regulated under applicable law.

  3. relate to transactions that (a) show the personal information of third parties in violation of applicable law, (b) support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs, (c) are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card, (d) are for the sale of certain items before the seller has control or possession of the item, (e) are by payment processors to collect payments on behalf of merchants, (f) are associated with the sale of traveler's checks or money orders, (g) involve currency exchanges or check cashing businesses, or (h) involve certain credit repair, debt settlement services, credit transactions or insurance activities.

  4. involve the sales of products or services identified by government agencies to have a high likelihood of being fraudulent.

  5. violate applicable laws or industry regulations regarding the sale of (a) tobacco products, or (b) prescription drugs and devices.

  6. involve gambling, gaming and/or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not it is legally defined as a lottery) and sweepstakes unless the operator has obtained prior approval from VeriMoney and the operator and customers are located exclusively in jurisdictions where such activities are permitted by law.

Links from Other Internet Sites

A link to the VeriMoney.com website may be provided from various advertisements, search engines, portals, or other sites and/or email messages. It is the user's responsibility to take precautions to ensure that material selected from such sites is free of such items as viruses, worms, Trojan horses and other items of a destructive nature. VeriMoney.com is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of the use of such linked sites, or reference to or reliance on information contained therein

No Warranties

Use of this web site and its contents are at the user's sole risk. VeriMoney.com assumes no responsibility for consequences from the use of the information herein, or in any respect for the content of such information, including, but not limited to, delays, errors or omissions, the accuracy or reasonableness of information, the defamatory nature of statements, ownership of copyright or other intellectual property rights, and the violation of property, privacy or personal rights of others. VeriMoney.com is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference or reliance on such information.

INFORMATION ON THIS SITE IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

IN NO EVENT WILL VERIMONEY.COM OR ITS SUBSIDIARIES, AFFILIATES, CONTRACTORS, OR THEIR RESPECTIVE EMPLOYEES BE LIABLE UNDER ANY CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHER CLAIM FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES) RESULTING FROM THE USE OF OR THE INABILITY TO USE THE WEB SITE, SITE CONTENT OR ANY PRODUCTS OR SERVICES, OR ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, EFFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, LINE SYSTEM FAILURE, LOSS OF DATA, OR LOSS OF USE RELATED TO THIS WEB SITE OR ANY WEB SITE OPERATED BY ANY THIRD PARTY.

Copyrights & Trademarks

The contents of this site are the property of VeriMoney, Inc. (VeriMoney.com) unless otherwise indicated, and protected by copyright and trademark laws. VeriMoney.com reserves all rights and the content of the web site may not be produced, downloaded, disseminated, published, or transferred in any part whatsoever. The trademarks, logos and service marks displayed on the web site are the property of VeriMoney.com and other parties.

Modifications

VeriMoney.com reserves the right to change the Terms of Service, change the fees charged, and modify the contents of the web site without notice.

Governing Law

You agree that disputes arising out of or relating to the contents or use of this web site are to be governed by the laws of the State of Delaware, United States of America. You consent to the exclusive jurisdiction of courts sitting in the State of Delaware in all disputes arising out of or relating to the contents or use of this web site.

General

If any part of this agreement is determined to be unenforceable by a court of competent jurisdiction, the unenforceable portion will be modified by the court solely to the extent necessary to cause such portion to be enforceable, and the remainder of the agreement shall continue in full force and effect.

This agreement constitutes the entire agreement between you and VeriMoney.com with respect to the use of this web site and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral or written, between you and VeriMoney.com with respect to this web site. A printed version of this agreement shall be admissible in judicial or administrative proceedings based upon or relating to this agreement to the same extent and subject to the same conditions as other business documents.

Last Updated Date: 7/15/2014