Terms of Service

1. Definitions

For the purposes of these Terms, the following definitions apply:

• Activo Digital (Digital Asset): Any digital representation of value or rights that can be transferred, stored or traded electronically, including cryptocurrencies and stablecoins.
• API de Colurs: The application programming interface provided by Colurs that allows third parties to interact with Colurs services.
• API: Application Programming Interface — a set of protocols and tools for building software applications.
• Aplicación (Application): The mobile or web application developed and operated by Colurs through which users access the services.
• Autoridad Regulatoria (Regulatory Authority): Any governmental or regulatory body with jurisdiction over the services offered by Colurs.
• Cliente (Client): Any natural or legal person who has entered into a contractual relationship with Colurs for the use of its services.
• Cuenta (Account): The user account created within the Colurs platform to access and manage the services.
• Tarifa de Uso (Usage Fee): The fees charged by Colurs for the use of its services, as specified in the applicable commercial offer.
• Cuenta Bancaria (Bank Account): A bank account registered and associated with a user's Colurs account.
• Cuenta Concentradora (Pooled Account): An account used by Colurs to aggregate client funds for operational purposes.
• Custodia de Activos Digitales (Digital Asset Custody): The service by which Colurs holds and manages digital assets on behalf of users.
• Datos Personales (Personal Data): Any information that identifies or makes identifiable a natural person, as defined in applicable data protection regulations.
• Derechos de Propiedad Intelectual (Intellectual Property Rights): All patents, copyrights, trademarks, trade secrets, and any other intellectual or industrial property rights.
• Dirección de Cartera Externa (External Wallet Address): A blockchain address not managed by Colurs, to or from which digital assets may be sent.
• Desembolso de Pagos (Payment Disbursement): The process of sending funds to a designated recipient account or wallet.
• Afiliados de Colurs (Colurs Affiliates): Entities that control, are controlled by, or are under common control with Colurs.
• Fork: A change in the protocol of a blockchain network that results in two versions of the blockchain running simultaneously.
• KYC/AML/ATF: Know Your Customer, Anti-Money Laundering, and Anti-Terrorism Financing — regulatory compliance programs.
• Leyes Aplicables (Applicable Laws): All laws, regulations, and rules that apply to the use of Colurs services in the relevant jurisdiction.
• Listas Restringidas (Restricted Lists): Lists of individuals, entities, or countries subject to sanctions or restrictions by regulatory authorities.
• Marcas Comerciales (Trademarks): Trade names, logos, and other distinctive signs used by Colurs in commerce.
• Materiales del Usuario (User Materials): Content, data, or information submitted by users to the Colurs platform.
• Moneda Fiat (Fiat Currency): Government-issued currency that is not backed by a physical commodity (e.g., USD, COP, MXN, BRL).
• Notificación Escrita (Written Notice): Official communication sent by Colurs or the user through the channels specified in these Terms.
• Oferta Comercial (Commercial Offer): The specific pricing, features, and service levels agreed upon between Colurs and a client.
• On/Off-Ramps: Services that allow users to convert between fiat currencies and digital assets.
• Pasarela de Pago (Payment Gateway): Technology that facilitates the transfer of payment information between parties in a transaction.
• Plataforma de Colurs (Colurs Platform): The complete set of software, systems, and infrastructure operated by Colurs to deliver its services.
• Política de Privacidad (Privacy Policy): Colurs' policy governing the collection, use, and protection of personal data.
• Regulación de la Regla de Viaje (Travel Rule Regulation): Requirements under applicable law to transmit certain information along with financial transactions.
• Representantes (Representatives): Authorized agents, employees, or contractors acting on behalf of Colurs or a client.
• Sandbox: A testing environment provided by Colurs that simulates the production environment without real transactions.
• Servicios (Services): All products, features, tools, and functionalities offered by Colurs under these Terms.
• Sitio Web (Website): The Colurs website accessible at www.colurs.io.
• SMS: Short Message Service — text messages used by Colurs for communications and authentication.
• Top up: The process of adding funds to a Colurs account or wallet.
• Transacción (Transaction): Any financial operation carried out through the Colurs platform.
• Usuario/Usuarios (User/Users): Any person or entity that accesses and uses the Colurs platform and services.
• Cartera (Wallet): A digital wallet used to store, send, and receive digital assets within the Colurs platform.

2. Propósito

3. Activos Digitales y Servicio

Sobre los Activos Digitales

Digital assets are highly volatile and speculative instruments. The value of digital assets can fluctuate significantly within short periods of time. Colurs does not guarantee the value of any digital asset and is not responsible for losses resulting from changes in the value of digital assets held on the platform.

Digital Asset Protocols and Network Fees

Transactions involving digital assets are subject to network fees (commonly referred to as "gas fees") charged by the underlying blockchain network. These fees are separate from Colurs' service fees and are paid directly to the network. Colurs is not responsible for delays caused by network congestion.

Management of Your Keys

For custodial wallets, Colurs manages the private keys on behalf of users. Users are responsible for maintaining the security of their account credentials. Any unauthorized access resulting from inadequate credential security is the user's responsibility.

Wallets and Digital Assets

Colurs provides both custodial and non-custodial wallet options. Users should understand the distinction between these wallet types and the associated risks and responsibilities before using each type.

Passwords and Security

Users are responsible for maintaining the confidentiality of their account passwords and for all activities that occur under their account. Colurs recommends using strong, unique passwords and enabling two-factor authentication where available.

Identity Authentication

Colurs uses various identity authentication methods to verify user identity and secure transactions. Users must cooperate with Colurs' identity verification procedures and provide accurate and up-to-date information.

Third-Party Services

Colurs may integrate with third-party services to provide certain functionalities. Colurs is not responsible for the performance, availability, or security of third-party services. Use of third-party services is subject to their respective terms and conditions.

Taxes

Users are solely responsible for determining and fulfilling their tax obligations arising from the use of Colurs services and transactions involving digital assets. Colurs may provide certain transaction records to assist with tax reporting but does not provide tax advice.

Risks

The use of digital assets and related services involves significant risks, including but not limited to market volatility, regulatory changes, technological failures, and cybersecurity threats. Users should carefully consider these risks before using Colurs services.

4. Use of the Service

Permitted Use

Users may only use Colurs services for lawful purposes and in accordance with these Terms. Permitted uses include:

• Sending and receiving payments in fiat and digital currencies.
• Managing USD accounts for business operations.
• Converting between fiat currencies and digital assets.
• Accessing APIs for integration into approved business applications.
• Using the Colurs platform for treasury and cash management.

Fees and Charges

Colurs charges fees for certain services as described in the applicable commercial offer or pricing schedule. Fees may change with prior notice to users. Continued use of services after fee changes constitutes acceptance of the new fees.

Modifications

Colurs reserves the right to modify, suspend, or discontinue any service at any time with reasonable prior notice. Colurs shall not be liable for any losses resulting from such modifications.

Your Privacy

Your privacy is important to us. The use of your personal data is governed by our Privacy Policy, which is incorporated into these Terms by reference.

Account Communications

By creating an account, you agree to receive communications from Colurs, including transactional notifications, service updates, and promotional messages. You may opt out of promotional communications at any time.

Suspension and Termination

Colurs may suspend or terminate your account if you violate these Terms, engage in fraudulent activity, or if required by applicable law or regulatory authorities.

Unacceptable Use

Users may not use Colurs services for money laundering, terrorism financing, fraud, or any other illegal activity. Users may not attempt to circumvent security measures or access systems without authorization.

Product Updates

Colurs may update its products and services from time to time to improve functionality, security, or compliance. Users will be notified of significant updates through appropriate channels.

License and Restrictions

Colurs grants users a limited, non-exclusive, non-transferable license to use the platform for the purposes described in these Terms. Users may not reverse engineer, copy, or create derivative works from Colurs software or content.

Colurs Trademarks and Feedback

The Colurs name, logo, and related marks are trademarks of Colurs. Users may not use these marks without prior written permission. Feedback submitted to Colurs may be used by Colurs without restriction or compensation to the user.

5. User Content

Your Content

You retain ownership of any content you submit to the Colurs platform. By submitting content, you grant Colurs a license to use, process, and store that content as necessary to provide the services.

Sharing Content

You may share content with other users or third parties through the platform. You are responsible for ensuring that any content you share complies with applicable laws and does not infringe on third-party rights.

License

By submitting content to Colurs, you grant Colurs a worldwide, royalty-free license to use, reproduce, and process your content for the purpose of providing and improving the services.

Responsibility

You are solely responsible for the content you submit and any consequences arising from its submission. Colurs is not responsible for any user-generated content on the platform.

Inappropriate Content

Colurs reserves the right to remove any content that violates these Terms, applicable laws, or Colurs' content policies without prior notice.

6. Registration and User Account

6.1. Account Creation

To use Colurs services, you must create an account by providing accurate and complete information. You agree to maintain and promptly update your account information to keep it accurate and current. You must be at least 18 years old and legally authorized to enter into binding contracts to create an account.

6.2. Identity Verification (KYC)

As required by applicable laws and regulations, Colurs must verify the identity of its users. You agree to provide any documentation or information required for identity verification, including but not limited to government-issued identification, proof of address, and business registration documents for corporate accounts.

6.3. Account Responsibility

You are responsible for all activities that occur under your account. You must notify Colurs immediately of any unauthorized use of your account or any other breach of security. Colurs will not be liable for any losses resulting from unauthorized access to your account.

7. Wallet Custodial

7.1. Security of Funds

Colurs employs industry-standard security measures to protect custodial assets, including multi-signature controls, cold storage, and regular security audits. However, no security system is impenetrable, and Colurs cannot guarantee the absolute security of assets held in custody.

7.2. Access to Funds

Users can access and withdraw their custodial assets subject to applicable compliance checks and withdrawal limits. Colurs may temporarily restrict access to funds in cases of suspected fraud, regulatory requirements, or security concerns.

7.3. Digital Asset Risk

Custodial assets are subject to the risks inherent in digital assets, including market volatility, regulatory changes, and technological risks. Users acknowledge that the value of their custodial assets may fluctuate significantly.

8. Payments and Transactions

8.1. ON/OFF Ramps and Payment Gateways

Colurs provides on-ramp and off-ramp services that allow users to convert between fiat currencies and digital assets. These services are subject to applicable regulatory requirements, including KYC/AML checks and transaction monitoring. Processing times and fees may vary depending on the method and jurisdiction.

8.2. Payment Processing

All transactions are processed in accordance with applicable payment network rules and regulatory requirements. Colurs reserves the right to refuse or reverse any transaction that violates these Terms, applicable laws, or payment network rules. Users are responsible for providing accurate payment information, and Colurs shall not be liable for losses resulting from incorrect information.

9. Privacy and Data Protection

Colurs is committed to protecting your personal data in accordance with applicable data protection laws. The collection, use, and storage of personal data is governed by our Privacy Policy, which is available at www.colurs.io/privacy and is incorporated into these Terms by reference. By using our services, you consent to the processing of your personal data as described in the Privacy Policy.

10. Limitation of Liability

10.1. Exclusion of Liability

To the maximum extent permitted by applicable law, Colurs shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, loss of data, or loss of goodwill, arising from or in connection with the use of our services. Colurs' total aggregate liability shall not exceed the fees paid by the user in the three months preceding the event giving rise to the liability.

10.2. Service Interruptions

Colurs does not guarantee uninterrupted or error-free operation of its services. Colurs shall not be liable for any losses or damages resulting from service interruptions, maintenance periods, or technical failures beyond Colurs' reasonable control. Colurs will make reasonable efforts to minimize service disruptions and provide advance notice of planned maintenance.

11. Modifications to the Terms

Colurs reserves the right to modify these Terms at any time. Changes will be communicated to users through appropriate means, such as email notification or in-app alerts, with reasonable advance notice. If you do not agree with the modified Terms, you must stop using the services before the changes take effect. Continued use of the services after the effective date of any modifications constitutes your acceptance of the new Terms.