Latest Update: 19 August 2014
1) APPLICATION AND ACCEPTANCE
Application. Unless otherwise agreed in writing with Compumatrix, these Terms apply to your use of the Services. You may not use the Services if you do not accept the Terms.
Acceptance. The Terms shall be deemed accepted by you upon the earlier of your: (i) creation of an Account; (ii) using the Services; or (ii) clicking to “accept” or “agree” or otherwise signifying your agreement when this option is made available to you in the course of accessing or registering for the Services.
Supplemental Terms. In the event that an additional Service is introduced or an existing Service is altered and supplementary terms and conditions of access or use are applicable, those additional terms (“Supplemental Terms”) shall also apply. When Supplementary Terms apply to a specific Service, these may be accessible and/or presented to you within or prior to the use of such Service. These Terms shall continue to apply to such additional or altered Service and shall be deemed modified only to the degree they are in direct conflict with the Supplemental Terms, in which case the Supplemental Terms shall prevail.
Updates. Compumatrix may make changes to the Terms or Supplemental Terms from time to time, and Compumatrix will make a new version of the Terms available at in the “Legal Agreements” section of the Site. Any new Supplemental Terms may be made available to you from within, or through, the applicable Services. You understand and agree that you are responsible for periodically checking to determine whether the Terms or Supplemental Terms have been updated and, in any event, that if you use the Services after the date on which the Terms or Supplemental Terms have changed, you are deemed to have affirmatively accepted the updated Terms and/or Supplemental Terms. When Compumatrix posts changes to the Terms, the “Latest Update” date at the top of Terms will be updated.
Minimum Age. You must be at least eighteen (18) years old to use the Services. Any registration, use of or access to the Services by anyone under 18 is unauthorized, unlicensed, and in violation of these Terms.
Legally Capable of Contracting and Receiving Services. Without limiting the foregoing, you may not use the Services and may not purport to accept the Terms if you are not of legal age to form a binding contract with Compumatrix, or are otherwise precluded from using or receiving such Services under the laws of the Jurisdiction or other countries, including the country in which you are resident or from which you intend to use or access the Services.
Your Representation and Warranty. You expressly represent and warrant that then you are at least eighteen (18) years of age and do not require the consent, approbation or approval of any other person or entity to conclude a contractual obligation of the type represented in these Terms.
Access to Services Conditional. We may terminate your Account and/or prohibit you from using or accessing the Service (or any portion, aspect or feature of the Service) for any reason, at any time in its sole discretion, with or without notice, including without limitation if we believes that you are under 18 or are otherwise ineligible to use the Services pursuant to these Terms.
Single User Account. In order to use Services, you must register an Compumatrix account through the Site (“Account”). An individual User may only have one Account at a time.
Account Security. You agree and understand that you are responsible for maintaining the confidentiality of the password associated with your Account. KEEP YOUR PASSWORD STRICTLY CONFIDENTIAL. If a User shares their password with others or allows others to discover and use their password with the Account, the User is giving access to the funds and information in the Account and assumes all responsibility for transactions in their Account Accordingly, you agree that you will be solely responsible to Compumatrix for all activities that occur within or through your Account. If you become aware of any unauthorized use of your password or of your Account, you agree to notify Compumatrix immediately.
Dormant Accounts. Accounts with a positive balance, but which have not been accessed in twelve (12) months are considered “Dormant”. We will attempt to contact you in advance of any account becoming Dormant using the contact details associated with your Account. Dormant accounts are subject to a Dormancy Fee per month (see “Fees & Availability” section on website). To regain access to your Account after it has reverted to Dormant status, please contact Compumatrix support.
Account Access. Compumatrix reserves the right to limit Account access and/or functionality (including deposits, transfers or withdrawals) and the right to terminate the Account with no prior notice if we, in our sole discretion, have reason to believe that a User has violated these Terms or has engaged in a Prohibited Activity or for any other reason in our sole and absolute discretion. Compumatrix will use reasonable commercial efforts to investigate Accounts that are subject to Account access limitations expeditiously and to reach a final decision on said limitations. Should a User’s Account be limited, all funds will be held for a period of time until the issue is resolved. However, it may be held for a lesser period which Compumatrix will determine.
4) FUNDING YOUR Compumatrix Portal
Funding Your Compumatrix Portal. You can load funds into your Compumatrix Portal by various means, which, depending on your location and method of funding, may incur fees. Please note that some fees are not imposed by Compumatrix and are not within Compumatrix’s control. Not all Portal funding methods are available in all regions and Compumatrix makes no representation as to the availability or continued availability of a given method in a particular region.
Funding Limitations. Portal loading options may vary from time to time depending on local availability and any limits that may apply to your Account. Also, in order to mitigate fraud and to comply with Anti-Money Laundering and Anti-Terrorist Financing legislation and best practices, certain limits will be imposed on loads into Compumatrix Portals dependent on the status of an Account, Account transaction history, and load method.
Returned Load. Please ensure that you provide accurate data before initiating a bank transfer. If you load funds by bank transfer and the amount is unpaid due to non-sufficient funds (NSF), a closed account, a non-existent account or a stopped payment, you will be liable to pay a fee.
Charge-backs. In the event that a User initiates a Charge-back on a Portal load, that User will be liable to pay a Charge-back Fee per incident (see “Fees” below).
5) TRANSFERRING FUNDS TO & FROM YOUR Portal
Please see the ‘Fees and Availability’ section on our website for a clear breakdown of our pricing and services.
Transfer Limitations. In order to mitigate fraud and to comply with Anti-Money Laundering and Anti-Terrorist Financing legislation, certain transactional limits will be imposed on transfers, which limits may vary from User to User dependent on the verification status of the Account and Account transaction history.
6) WITHDRAWING FUNDS FROM YOUR Portal
Withdrawing From Your Compumatrix Portal. You can withdraw funds from your Compumatrix Portal by various means, which may, depending on your location and method of funding, may incur fees. Not all withdrawal methods are available in all regions and Compumatrix makes no representation as to the availability or continued availability of a given method in a particular region.
Withdrawal Limitations. Portal withdrawal options may vary from time to time depending on local availability and any limits that may apply to your Account. Also, in order to mitigate fraud and to comply with Anti-Money Laundering and Anti-Terrorist Financing legislation and best practices, certain limits will be imposed on withdrawals from a User’s Portal dependent on the status of the Account, Account transaction history, and withdrawal method.
Portal Money Card. The Compumatrix-issued prepaid card is not a credit card or a pre-loaded debit card. The Portal Money card is a reloadable card onto which you must transfer money. In order to use your card, you must transfer funds from your Compumatrix Portal onto your card. The Portal Money card can be used at any location worldwide that accepts MasterCard. You can use it to make purchases online or at in-store point-of-sale locations, and at any Maestro-sponsored ATM to withdraw cash. If your card is lost or stolen, you must notify Compumatrix immediately. Upon receipt of notification, the card will be deactivated and any remaining funds on your lost or stolen card will be immediately transferred to your Compumatrix Portal. You will then have to order a new card — a replacement card will not be automatically sent to you. Should you require a replacement card, you may be responsible for the cost of the replacement card. Compumatrix’s issuing bank applies fees to the use of the card, which are described in Portal Money Card Fee Schedule, which are deducted from your card balance; these fees are not imposed by Compumatrix and Compumatrix does not receive or collect any portion of these fees. Portal Money Card are not available in all regions and Compumatrix makes no representation as to the availability or continued availability of a given method in a particular region.
Returned Withdrawal. Please ensure that you provide accurate data before initiating a bank transfer. If you withdraw funds by bank wire or bank transfer and the amount is returned due a closed account or unable to locate, you will be liable to pay a Rejection Fee per incident as well as any other associated fees passed on by correspondent banks.
7) ACCOUNT BALANCES and ADMINISTRATION
No Portal Balance Required. You are not required to carry a balance in your Compumatrix Portal.
Balances Not Co-Mingled With Compumatrix Funds. If you do hold a balance in Portal, your funds will be kept separate from the corporate/operational funds of Compumatrix.
Administration. While your funds are in our custody or control, Compumatrix will combine your funds with the funds of other Users and place those pooled funds into pooled accounts with one or more insured banks. These pooled accounts will be held for the benefit of Compumatrix’s collective Users. You acknowledge that you will not receive interest or other earnings on the funds that Compumatrix processes on your behalf through pooled bank or financial institution accounts. In consideration for your use of the Services, you irrevocably transfer and assign to Compumatrix any ownership right that you may have in any interest that may accrue on funds held in pooled bank or financial institution accounts. This assignment applies only to interest earned on your funds, and nothing in these Terms grants Compumatrix any ownership right to the principal of the funds. In addition to or instead of earning interest on pooled bank or financial institution accounts, Compumatrix may receive a reduction in fees or expenses charged by banking services by the banks or institutions that hold your funds.
8) REVERSALS, LIABILITY and NEGATIVE BALANCES
Liability for Reversed Transfers.
When you receive a transfer from another Compumatrix User to your Compumatrix Portal, you are and the sender (“Sending User”) are jointly and severally liable to Compumatrix for the full amount of the transfer sent to you (plus any Fees, if applicable) if the payment is later invalidated for any reason, including a reversal or invalidation of the funding of the Sending User’s Portal.
Compumatrix will first attempt to recover the entire amount of the reversed or invalidated transfer from the Sending User directly. If there are insufficient cleared funds in the Sending User’s Compumatrix Portal to cover the entire amount of the transfer to you plus any applicable Fees, Compumatrix may place a temporary hold on the funds in your Account to cover the amount of the liability.
If Compumatrix is unable to recover the full amount of the liability from the Sending User within fifteen (15) days, Compumatrix may recover any remaining amounts due to Compumatrix by debiting your Account. If there are insufficient funds in your Account to cover your liability, your remaining balance (if any) will be removed, your Account will have negative balance up to the amount of your liability, and you will be required to immediately add funds to your balance to eliminate the negative balance.
Negative Balances. In the event that you are liable for any amounts owed to Compumatrix, you agree to allow Compumatrix to recover any amounts due to Compumatrix by debiting your Account. If you do not have an Account balance that is sufficient to cover your liability, your remaining balance (if any) will be removed, your Account will have negative balance up to the amount of your liability, and you will be required to immediately add funds to your balance to eliminate the negative balance. If your Account has a negative balance, you agree to load funds into your Account to cover the negative balance immediately. In addition, if your Account has a negative balance, Compumatrix may set off the negative balance with any funds that you subsequently receive or deposit into your Account. If you have multiple currency balances in your Account and one of the currency balances becomes negative for any reason, Compumatrix may setoff the negative balance by using funds you maintain in a different currency balance.
Collections. If you do not promptly clear any negative Account balances, we reserve the right to recover the funds by any means necessary, including initiating collection efforts to recover such amounts from you by engaging a collections agency and/or law enforcement.
Security. To secure your performance of this agreement and compliance with the Terms, you grant to Compumatrix a lien on and security interest in and to the funds held in your Account in the possession of Compumatrix.
9) MULTIPLE CURRENCIES AND EXCHANGE
Maintaining Balances in Multiple Currencies. You are responsible for all risks associated with maintaining Account balances in multiple currencies. You agree that you will not attempt to use multiple Account currencies for speculative trading.
Currency Exchange Fees. A currency conversion fee applies whenever a currency conversion is required to complete your transaction. The exchange rate is determined by a financial institution and is adjusted regularly based on market conditions. 1.5% is added to this exchange rate. Adjustments may be applied immediately and without specific notice to you.
10) PROHIBITED ACTIVITIES
Abuse Reporting. To report Prohibited Activities or use of the Services contrary to these Terms, please email: . Prohibited Activities. Users shall at all times act reasonably and in good faith when using the Services and you expressly represent and warrant that in connection with your use of the Site, your Account, the Compumatrix Services, or otherwise in the course of your interactions with Compumatrix, other Users, or third parties, you shall not engage in the following activities (“Prohibited Activities”):
11) REMEDIAL ACTIONS
Remedial Measures. If we have reason to believe or suspect that you have engaged or plan to engage in any Prohibited Activities, we may take various actions we deem appropriate to protect Compumatrix, our other Users or you from reversals, chargebacks, claims, fees, fines, penalties and any other risk, including, without limitation:
we may close, suspend or limit your access to your Account or functionality within your Account;
we may notify others who have transacted with you, contact your bank or credit card issuer and/or warn other Users, law enforcement or impacted third parties of your actions;
we may update inaccurate information you provided us;
we may refuse to provide the Services to you in the future;
we may hold your funds for up to 180 days if reasonably needed to protect against the risk of liability;
we may at any point ask for information regarding your business, the source of funds, or the reason for you sending or receiving the payment and you agree to furnish same; and/or
we may take legal action against you.
Notice of Measures. If we close your Account or terminate or restrict your use of the Compumatrix Services for any reason, we will provide you with notice of our actions. You acknowledge that Compumatrix’s decision to take certain actions, including limiting access to your Account by placing holds or other actions, may be based on confidential criteria that is essential to our management of risk and the security of Users’ Accounts and the Compumatrix system. You agree that Compumatrix is under no obligation to disclose the details of its risk management or its security procedures to you.
Inter-User Disputes. If you have a dispute with one or more Users, you release Compumatrix from any and all claims, demands and actual/consequential damages related to your transaction(s) with said User(s).
Contact Us First. If a dispute arises between you and Compumatrix, our goal is to learn about and address your concerns and, if we are unable to do so to your satisfaction, to provide you with a neutral and cost effective means of resolving the dispute quickly.
Good Faith Attempts to Resolve. The parties agree that they will make good faith efforts to settle any dispute, claim or controversy arising out of or relating to this Agreement by discussion and/or negotiation.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the Jurisdiction for purposes of any action commenced under this Agreement or with respect to any tort committed or alleged to be committed in the performance of this Agreement. No choice of law rules of any jurisdiction shall apply hereto. The parties hereto expressly waive any right they have to a jury trial and agree that any court preceding under this Agreement shall be tried by a judge without a jury.
Forum. You agree that: (i) the Service shall be deemed solely based in the Jurisdiction; and (ii) the Service shall be deemed a passive one that does not give rise to personal jurisdiction over Compumatrix, either specific or general, in jurisdictions other than the Jurisdiction; and (iii) the Terms, and your relationship with Compumatrix under the Terms shall be governed by the internal substantive laws of the Jurisdiction, without respect to its conflict of laws principles. Any claim or dispute between you and Compumatrix that arises in whole or in part from the Service shall be decided exclusively by a court of competent jurisdiction located in the Forum City. You agree to submit to the personal jurisdiction of the courts located in the Forum City, for the purpose of litigating all such claims or disputes. Notwithstanding this, you agree that Compumatrix shall still be allowed to apply for injunctive remedies (or an equivalent type of urgent legal relief) in any jurisdiction.
No Waiver. You agree that if Compumatrix does not exercise or enforce any legal right or remedy which is contained in the Terms (or which Compumatrix has the benefit of under any applicable law), this will not be taken to be a formal waiver of Compumatrix’s rights and that those rights or remedies will still be available to Compumatrix.
Severability. If any court of law, having the jurisdiction to decide on this matter, rules that any provision of these Terms is invalid, then that provision will be removed from the Terms without affecting the rest of the Terms. The remaining provisions of the Terms will continue to be valid and enforceable.
Compumatrix provides third-party payment processing services and carries out related actions on your behalf. At all times, your funds are held separately from our corporate funds and are not incorporated into or used for Compumatrix’s operating expenses or corporate purposes. You acknowledge that Compumatrix is not a bank and that the Services are a payment processing and transfer service rather than a banking service. By initiating and sending funds through the Service or adding funds to your Portal, you appoint Compumatrix as your agent to obtain the funds on your behalf and transfer them to the designated receiver. When you initiate funding transaction into your Portal or when you transfer funds to another Compumatrix User, Compumatrix processes the funds on your behalf through the banks or institutions that hold your funds. You will not be able to withdraw those funds or send the funds to any other User unless the initial transaction is canceled. When you receive funds through the Service from another Compumatrix User, Compumatrix processes the funds on your behalf through the banks or financial institutions that hold your funds. Funds received in your Portal are held in pooled bank or financial institution accounts. You may, from time to time, authorize Compumatrix to transfer your funds through our Site, but any such transferee must be an Compumatrix User.
14) WARRANTIES and LIABILITY
Indemnity. You agree to defend, indemnify and hold Compumatrix, its parent, officers, directors and employees harmless from any claim or demand (including attorneys’ fees) made or incurred by any third party due to or arising out of your breach of these Terms and/or your use of the Compumatrix Services.
Compumatrix makes reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards and check issuances are processed promptly, but we make no representations or warranties regarding the amount of time needed to complete transactions because our Service is largely dependent upon many factors entirely outside of our control. NOTHING IN THESE TERMS SHALL EXCLUDE OR LIMIT Compumatrix’S WARRANTY OR LIABILITY FOR LOSSES WHICH MAY NOT BE LAWFULLY EXCLUDED OR LIMITED BY APPLICABLE LAW. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR CONDITIONS OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR LOSS OR DAMAGE CAUSED BY NEGLIGENCE, BREACH OF CONTRACT OR BREACH OF IMPLIED TERMS, OR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, ONLY THE LIMITATIONS WHICH ARE LAWFUL IN YOUR JURISDICTION WILL APPLY TO YOU AND Compumatrix’S LIABILITY WILL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW. YOU EXPRESSLY UNDERSTAND AND AGREE THAT YOUR USE OF THE SERVICES IS AT YOUR SOLE RISK AND THAT THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE.” IN PARTICULAR, Compumatrix, ITS SUBSIDIARIES AND AFFILIATES, AND ITS LICENSORS DO NOT REPRESENT OR WARRANT TO YOU THAT: (I) YOUR USE OF THE SERVICES WILL MEET YOUR REQUIREMENTS, (II) YOUR USE OF THE SERVICES WILL BE UNINTERRUPTED, TIMELY, OR FREE FROM ERROR, (III) ANY INFORMATION OBTAINED BY YOU AS A RESULT OF YOUR USE OF THE SERVICES WILL BE ACCURATE OR RELIABLE, AND (D) THAT DEFECTS IN THE OPERATION OR FUNCTIONALITY OF ANY SOFTWARE PROVIDED TO YOU AS PART OF THE SERVICES WILL BE CORRECTED. ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICES IS DONE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR OTHER DEVICE OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM Compumatrix OR THROUGH OR FROM THE SERVICES SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THE TERMS. Compumatrix FURTHER EXPRESSLY DISCLAIMS ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.
YOU EXPRESSLY UNDERSTAND AND AGREE THAT Compumatrix, ITS SUBSIDIARIES AND AFFILIATES, AND ITS LICENSORS SHALL NOT BE LIABLE TO YOU FOR: (I) ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL CONSEQUENTIAL OR EXEMPLARY DAMAGES WHICH MAY BE INCURRED BY YOU, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY. THIS SHALL INCLUDE, BUT NOT BE LIMITED TO, ANY LOSS OF PROFIT (WHETHER INCURRED DIRECTLY OR INDIRECTLY), ANY LOSS OF GOODWILL OR BUSINESS REPUTATION, ANY LOSS OF DATA SUFFERED, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR OTHER INTANGIBLE LOSS; (II) ANY LOSS OR DAMAGE WHICH MAY BE INCURRED BY YOU, INCLUDING BUT NOT LIMITED TO LOSS OR DAMAGE AS A RESULT OF: (A) ANY CHANGES WHICH Compumatrix MAY MAKE TO THE SERVICES, OR FOR ANY PERMANENT OR TEMPORARY CESSATION IN THE PROVISION OF THE SERVICES (OR ANY FEATURES WITHIN THE SERVICES); (B) THE DELETION OF, CORRUPTION OF, OR FAILURE TO STORE, ANY CONTENT AND OTHER COMMUNICATIONS DATA MAINTAINED OR TRANSMITTED BY OR THROUGH YOUR USE OF THE SERVICES; (C) YOUR FAILURE TO PROVIDE Compumatrix WITH ACCURATE ACCOUNT INFORMATION; (D) YOUR FAILURE TO KEEP YOUR PASSWORD OR ACCOUNT DETAILS SECURE AND CONFIDENTIAL. THE LIMITATIONS ON Compumatrix’S LIABILITY ABOVE SHALL APPLY WHETHER OR NOT Compumatrix HAS BEEN ADVISED OF OR SHOULD HAVE BEEN AWARE OF THE POSSIBILITY OF ANY SUCH LOSSES ARISING.
“Agreement” or “Terms” means this agreement including all subsequent amendments or revisions;
“Balance” means any money that you have in your Account. The terms “money” and “funds” are used interchangeably in this Agreement;
“Chargeback” means a request that a credit or debit card holder files directly with his or her debit or credit card company or debit or credit card issuing bank to invalidate a payment;
“eCheck” means a payment funded using a sender’s bank account Payment Method that is held pending and not received by the recipient until it clears. When you send money using eCheck it will usually be held pending for up to eight business days;
“Forum City” means the city in which you are resident or from which you intend to use or access the Services
“Jurisdiction” means the country in which you are resident or from which you intend to use or access the Services;
“Services” means all our products and services and any other features, technologies and/or functionalities offered by us on our Site or through any other means. “Services” means any software, services and web site provided by or made available through Compumatrix or its affiliated or partner companies, including, without limitation the “Compumatrix” service, an online service to enable self-directed feedback and personal development management;
“Site” means any website www.compumatrix.us.com operated by or on behalf of Compumatrix and through which Services are accessed by you;
“We”, “our”, “us” or “Compumatrix” means Compumatrix & Networks International Inc. or any successor company or assignee; and
“User” means any person or entity using the Compumatrix Services, including you.