Terms and Conditions

Thank you for choosing to make a payment with COINPAY. Please read these terms and conditions carefully. They are an agreement between you and LIQD, Inc. By using this web site, you agree to these Terms and Conditions.

By registering for the Service, you appoint COINPAY as your agent to process payments on your behalf in accordance with your instructions, subject to these terms and conditions. COINPAY will at all times hold your funds separate from its corporate funds, will not use your funds for its operating expenses or any other corporate purposes, and will not voluntarily make funds available to its creditors in the event of bankruptcy or for any other purpose. You acknowledge that (i) COINPAY is not a bank and the Service is a payment processing service rather than a banking service, savings association, or any other type of depositary institution and (ii) COINPAY is not acting as a trustee, fiduciary, or escrow with respect to your funds and (iii) your COINPAY balance is not a financial asset and (iv) your COINPAY account is not a bank account or other type of deposit account. COINPAY does not accept funds from you for purposes of transfer or for deposit.

 

COINPAY SHALL BEAR NO LIABILITY OR RESPONSIBILITY FOR ANY LOSSES OF ANY KIND THAT YOU MAY INCUR AS A RESULT OF AN ERRONEOUS STATEMENT, ANY DELAY IN THE ACTUAL DATE ON WHICH YOUR ACCOUNT IS DEBITED, OR YOUR FAILURE TO PROVIDE ACCURATE AND/OR VALID PAYMENT INFORMATION.

 

COINPAY reserves the right to change these terms and conditions at any time. Notice of any such change may be given on or with your bill or by other methods.

 

Service Overview:

You may submit a bill payment by providing account details for the bill you would like paid by COINPAY on your behalf. Before COINPAY submits your bill payment to our bill payment processor you must send virtual currency equal to an exchange rate plus any applicable fees to an address provided by our virtual currency exchanger whom is responsible for (i) providing the conversion rate, (ii) performing the conversion of the virtual currency to USD and (iii) providing the USD to COINPAY’S bill payment processor and to COINPAY. Upon notification from the virtual currency exchanger that you have successfully submitted the required virtual currency COINPAY will immediately submit your bill payment to our bill payment processor.

 

Account:

COINPAY requires the registration of an account prior to submitting a payment. You agree to promptly update all your profile information, including, as applicable, your name, physical address, email address, and any other required profile fields. For instructions on how to update your information, please email us at support@coinpay.xyz. We are not responsible for any payment processing errors or fees or other Service-related issues arising from your failure to keep your account information current.

 

New COINPAY users may be subject to a $5,000.00 rolling 30-day payment velocity limit. To facilitate your use of the COINPAY system, we may use third-party and publicly available information to validate your identity.

 

COINPAY is not responsible for the accuracy of any identity-based information on public record or provided by licensed third-parties. COINPAY may solicit additional user information to validate the authenticity of an account. The information requested may include, but is not limited to: a copy of state or federal identification documents, utility bills, or bank statements. The refusal to provide requested information may result in the cancellation of a COINPAY account and its associated payments. COINPAY maintains the right to limit its users to one active user per account. The association of multiple users per COINPAY account by payee account or any other personally identifiable information may result in delay of posting, cancellation of payment, or the closing of one or more associated COINPAY accounts.

 

Refund Policy:

Completion of a payment transaction is contingent upon the receipt of payment in BTC to the address specified on the invoice and acceptance of the payment by the relevant receiving company provided by you. In the event that the payment is unable to be processed, COINPAY will attempt to notify you at least once using the contact information provided at account registration or at the time the payment was submitted. In the event the applicable entity you paid fails to accept payment, your payment liability shall remain outstanding and unpaid and will be subject to penalties, late fees and interest charges assessed by the relevant entity thereon, all of which obligations remain the responsibility of the account holder. In this instance, the payment will be refunded in BTC to an address provided by you at a current exchange rate equivalent to the original payment amount in USD. Where the receiving company accepted payment, there are no refunds.

 

Your Liability:

You are solely liable for errors you make in using the Bill Payment Service, including the following:

●      you erroneously direct COINPAY to submit a payment to a Payee multiple times;

●      you direct COINPAY to submit the wrong amount to a Payee;

●      you direct COINPAY to submit a payment to the wrong Payee; or

●      you change your mind about making a payment to a Payee after directing COINPAY to submit the payment.

 

COINPAY does not have control of, or liability for, the products or services that are paid on your behalf.

 

You should confirm receipt of all payments you submit through COINPAY by checking your statement from your biller. ALL QUESTIONS ABOUT TRANSACTIONS MADE THROUGH COINPAY MUST BE DIRECTED TO COINPAY. We are responsible for resolving any errors in transactions made through COINPAY. We will work with you and your biller (as appropriate) to resolve errors.

 

We will not send you a periodic statement listing payments that you made using COINPAY.

 

Invoice Generation & Exchange Guarantee:

COINPAY works with select virtual currency exchanges to obtain an exchange rate based on a proprietary algorithm. The total amount in BTC owed to complete the Bill Payment Transaction is disclosed at the time of Invoice Presentment. The quoted price in BTC is guaranteed for 10 minutes. If Invoice is not paid within 10 minutes the invoice will automatically expire. If your browser fails to update the invoice will still be considered expired 10 minutes after generation. A new invoice must be generated by selecting the “REFRESH INVOICE” button displayed to you, selecting the “BACK” button and repeating prior steps or by restarting the submission process from step 1. If you elect to generate a new invoice the amount owed in BTC will be calculated in the same manner as described above.

 

Termination:

COINPAY has developed proprietary technology and processes to evaluate customer accounts and transactions to detect fraud and other types of financial or business risk, and reserves the right to cancel any user account or transaction that exceeds the acceptable risk level. Payments submitted outside of the US or its territories may be canceled without prior notice. Any user found to be in violation of the COINPAY terms and conditions may be denied use of the service without prior notice. Voluntary closure of a COINPAY account can be requested by emailing support@coinpay.xyz.

 

COINPAY is not responsible for any underpayment or overpayment of a payee account or any losses or damages sustained as a result.

 

Disclosure of Information to Third Parties:

Except as described in the next two sentences, COINPAY will not willfully sell or disclose your customer identifiable information to third parties (without your consent), except as required by law or to respond to a subpoena or other valid governmental order. However, by the very nature of our service, we share selected information about you with the entities whose obligations you are using our service to pay. We may also share information with our clients and others for marketing purposes, to tailor our content and help our advertisers and third party marketers better understand the demographic profile of our Site’s users. This is essential to keep the costs of our products and/or services reasonable.

 

In addition, COINPAY may use customer identifiable information to investigate and help prevent and prosecute unlawful activity or activity which threatens the Web site or our users’ privacy or otherwise violates the terms and conditions for this Web site.

 

Security:

COINPAY is committed to ensuring the security of your personally identifiable information. We will take reasonable precautions to protect this information from loss, misuse, unauthorized disclosure or alteration, including, putting in place appropriate physical, electronic and administrative procedures to safeguard and secure such information. We use encryption when collecting or transferring sensitive data (e.g., card information).

 

Log Files:

Like many Web sites, we may automatically gather – or engage a third party to gather – certain information about our Site traffic and store it in log files. For this purpose, we use Internet Protocol (IP) addresses to analyze trends, administer the Website, track our users’ movements and gather broad demographic information for aggregate use.

 

Links to Other Web Sites:

Our Web site contains links to other Web sites operated by our clients and business partners. Please be aware that COINPAY is not responsible for the privacy practices of these other sites. We encourage you to be aware as to when you leave our Web site and to read the privacy policy of each and every Web site that collects personally identifiable information. In addition, the entities operating these third-party sites may use cookies. However, we have no access to or control over these cookies.

 

Correcting Personally Identifiable Information:

If you have submitted incorrect personally identifiable information through this Web site and would like to revise this information, you may make appropriate revisions within the My Profile section of the site (if you have previously registered on the site) or may contact our customer service department by emailing support@coinpay.xyz. The accuracy of email addresses and phone numbers submitted with payments is your sole responsibility. COINPAY will not be held liable for any unreceived communications, or any losses or damages resulting from an incorrectly submitted email address or phone number.

 

User Acceptance of Terms and Conditions and Changes to Terms and Conditions:

By using this site, you signify your assent to these terms and conditions. If you do not agree to these, please do not use our site. If we make any substantial changes in this privacy policy (including with respect to how we use customer identifiable information) we will notify you by posting a prominent announcement on our Web site thirty (30) days prior to implementing the change (to the extent commercially possible). COINPAY encourages you to periodically review the Terms and Conditions. Your continued use of the COINPAY Web site following the posting of changes to these terms will mean that you accept those changes.

 

Jurisdiction and Governing Law:

These Terms of Service shall be deemed and treated as though they were entered into, executed, and performed solely in Utah, and the laws of the State of Utah, without regard for conflict of law rules thereof that would result in the application of the laws of another jurisdiction, apply to all matters relating to use of the Sites and Services and shall without limitation govern these Terms of Service.

 

By use of the Sites or Services, you agree that any lawsuit or other action brought or filed with respect to use of the Sites or Services or concerning these Terms of Service shall be brought in a court of competent jurisdiction in Salt Lake County, Utah and you hereby submit to jurisdiction of such court. In any lawsuit or other action relating to enforcement or breach of these Terms of Service, the prevailing party shall be entitled to recovery of costs, fees, and expenses of any action, including attorneys’ fees and accounting fees.

 

TO THE EXTENT PERMITTED BY LAW, THE PARTIES AGREE THAT ANY DISPUTE RESOLUTION PROCEEDINGS, WHETHER IN ARBITRATION OR IN COURT, WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS AND NOT IN A CLASS OR REPRESENTATIVE ACTION OR AS A NAMED OR UNNAMED MEMBER IN A CLASS, CONSOLIDATED, REPRESENTATIVE, OR PRIVATE ATTORNEY GENERAL ACTION, UNLESS BOTH YOU AND COINPAY SPECIFICALLY AGREE TO DO SO IN WRITING.

 

If you do not wish to be bound by the class-action waiver in this Section 19, you must notify COINPAY in writing within 30 days of the date that you accept these Terms of Service. Your written notification must be mailed to: COINPAY, Inc., Attn: CEO, 325 West 200 South, #102, Salt Lake City, UT 84101.