TRAIPSE: My Local Token, Account Terms of Service
Last Updated, March 23, 2022
Please read these terms carefully. This is the agreement about your use of a My Local Token account within the My Local Token app. This agreement contains an Arbitration Clause requiring all claims to be resolved by way of binding arbitration.
These terms of service constitute an agreement (“Agreement”) under which a My Local Token Account (“Account”) has been issued to you by Traipse PBC, a Delaware benefit corporation (“Traipse,” “we,” “us,” “our”), and our vendors and partners. This Agreement includes Customer Accounts used by those who add value to their Accounts and use them to purchase goods and services, and Merchant Accounts used by those who agree to accept payment from Customer Accounts.
By accepting and using an Account, you agree to be bound by the terms and conditions contained in this Agreement. "You" and "your" mean the person or entity that has received the Account and is authorized to use the Account. This Agreement applies to both the Accountholder who activates and registers the Account and any other user of the Account.
The Account may be canceled or revoked at any time, subject to applicable law. In that event, we will provide email notice to you, and any previously purchased or fully earned account balance will be transferred back to you, by the same means in which it was transmitted by us.
1. YOUR ACCOUNT
Your Account is not a checking account or connected in any way to any bank or any other account other than your Account with My Local Token which tracks credits and balances and allows you to redeem those at participating merchant businesses.
If you have a Customer Account, your Account can be loaded by you with a specific amount of money, redeemable to buy goods and services at any participating merchant. You can access a list of participating merchants within the My Local Token mobile app when you are logged in. We or participating merchants, localities, or merchant associations may also, from time to time, allow you to earn additional funds or credits on your Account through the use of incentives, contests, or other promotions or giveaways.
If you have a Merchant Account, your Account can be used to receive payment from a Customer Account via our network, provided you initiate and maintain the necessary account connection via the Ponto API or similar. You agree during the period of your participation as the holder of a Merchant Account that you will maintain sufficient connectivity, software, and hardware (i.e., a point of sale scanner, API connection to your bank, mobile device(s) with the My Local Token app, etc.) to enable purchases via Customer Accounts.
2. ACCOUNT USAGE
Each time you use your Customer Account, you authorize us to reduce the value available in your Account by the amount of the transaction. Your Customer Account cannot be: (a) used to obtain cash in any transaction; (b) used for illegal transactions; (c) used to make foreign transactions; or (d) used for purchases where recurring payments may occur, such as subscriptions, memberships, rentals, and the like.
We may refuse to process any transaction that we believe may violate the terms of this Agreement. You are not allowed to exceed the balance of the funds available in your account. If a transaction that exceeds your Customer Account balance occurs due to a systems malfunction or otherwise, you will remain fully liable to us for the amount of the transaction. Our network may limit the amount or number of transactions on your Account for security reasons. If you do not have enough funds available in your Customer Account, you may ask the merchant to charge part of the purchase to your Account and pay the remaining amount with another form of payment. Not all merchants will accommodate such a request. Your Customer Account is valid in the U.S. only, and only with participating merchants.
3. ACCOUNT INFORMATION AND TRANSACTIONS
You may obtain information about your Account balance, participating merchants, pending transactions, movement of funds, how to add value to your Account, how to cash out and/or close your Account, and other relevant information through the My Local Token mobile app. You will not have the right to stop payment on any completed or pending purchase through a Customer Account. If you are entitled to a refund for any reason for goods or services obtained with your Customer Account, the return and refund will be handled by the merchant. We do not offer any dispute resolution services and cannot fulfill any role in handling or mediating disputes about purchases or returns.
If you believe your Account has been compromised, unauthorized access has occurred, or an unauthorized transaction has been made from your Account, contact us immediately through the My Local Token app. We may not be able to assist you if you do not contact us within 10 days of the unauthorized transaction. Any refund or restoration of value to your Account, if appropriate in our sole discretion, may take up to 30 days.
You agree that we or our participating organizations may contact you by using the My Local Token app and any and all contact information that you provide to us, and that contacts and messaging might include system, service or app updates, promotions, or information about your Account.
6. NO WARRANTIES AND LIMITATION OF LIABILITY
We are not responsible for the quality, safety, legality, or any other aspect of any goods or services purchased with your Account. Further, we will not be liable if: (a) a merchant refuses to accept or cannot process a transaction on your Account; (b) an electronic terminal where you attempt a transaction does not operate properly; (c) circumstances beyond our control (such as fire, flood, natural disaster, pandemic, or server, software, or communication failure) prevent the completion of a transaction or cause a loss of value on your Account; or (d) any other exception occurs as stated in this Agreement.
5. OTHER TERMS
You may not assign or transfer your Account or your obligations under this Agreement. We may, however, transfer or assign our rights under this Agreement, including any balances in your Account.
You will be notified of any change to this Agreement in the manner required by applicable law prior to the effective date of the change. However, if the change is made for security purposes, we can implement such change without prior notice. We do not waive our rights by delaying or failing to exercise them.
If any provision of this Agreement is determined to be invalid or unenforceable under any rule, law, or regulation, the validity or enforceability of any other provision of this Agreement will not be affected. This Agreement will be governed by the laws of the Commonwealth of Virginia except to the extent governed by federal law. If your Account has a remaining balance after a certain period of inactivity, we may be required to remit the remaining funds to the appropriate state agency.
(a) Jury Trial Waiver: To the extent permitted by law, you and we knowingly and voluntarily waive any right to trial by jury in the event of litigation arising out of or related to this agreement. This Jury Trial Waiver does not modify in any fashion the Arbitration Clause set forth in the following section, which contains its own jury trial waiver.
(b) Arbitration Clause: This Arbitration Clause governs any dispute arising under this Agreement, aside from the validity and coverage of this Arbitration Clause. Arbitrations will be conducted under the rules of the arbitration administrator, as chosen by us. Arbitration may be brought by you or us. In addition to the Jury Trial Waiver above, you also waive your rights to be a class member or bring suit in a class action or class arbitration. In order to commence an arbitration, the party bringing the dispute must send the notice and complaint in writing. You must send your notice to the Notice Address. After receiving notice, the other party has 30 days to attempt to resolve the issue before a suit or arbitration commences. We will pay all costs associated with administering an arbitration brought by you in good faith, if you cannot get a waiver and ask us to pay. This Arbitration Clause will stay in force if your Account is closed or we assign our rights under this Agreement. This Arbitration Clause and any rights to appeal or requests for information will be governed by the Federal Arbitration Act and the rules of the arbitrator.
We will provide notice to you for any event, claim, update, or otherwise related to your account, by both email to the address provided by you and by notice within the Traipse app, and/or by hard copy via U.S. mail to the mailing address provided to you by us.
To be effective, any notice to us must be transmitted both by email to email@example.com and by hard copy via U.S. mail to NOTICES, Traipse PBC, 32 N Augusta Street, Staunton, VA 24401