Terms and Conditions of Service
STABLE APP LLC, a limited liability company, incorporated under the laws of Delaware, with Employer Identification Number EIN 50-18840, and STABLE COLOMBIA S.A.S. employer identification number EIN 50-18840, and STABLE COLOMBIA S.A.S., sociedad comercial, with tax identification number 901.701.366-7, are the companies in charge of and responsible for the the treatment of personal data that the present terms and conditions of service terms and conditions of service regulate. In particular, each company will act responsible for the data it processes within the framework of its activities. activities. That is to say, STABLE APP LLC, as the controller and owner of the Stable App, as well as for the owner of the Stable Application, as well as for the issuance, back-up, guarantee and immediate guarantee and immediate availability of the Stable Dollars acquired by the Customers acquired by the Clients and STABLE COLOMBIA S.A.S., as responsible for the issuance of Cards in the of the issuance of Cards in the Colombian territory.
In particular, each company will act as responsible for the data it processes within the framework of its activities. That is, STABLE APP LLC, as responsible and owner of the Stable Application, as well as the issuance, support, guarantee and immediate availability of the Stable Dollars acquired by the Customers, and STABLE COLOMBIA S.A.S., as responsible for the issuance of Cards in the Colombian territory.
1.DEFINITIONS
The words defined below shall have the meaning indicated for each one of them:
1.1. “Application or Stable App”: It is the platform developed by Stable, which allows Customers to acquire Stable Dollars, access a Wallet, make transfers and purchases at national and international level
1.2. “Authorization”: Consent that, in a prior, express and informed manner, is given by the owner of any Personal Data for the company to carry out the processing of his or her Personal Data.
1.3. “Database”: Organized set of Personal Data that is the object of processing.
1.4. “Customer(s)”: Is any natural person, over fourteen (14) years of age, or legal entity that downloads Stable App, registers, opens its Wallet, obtains its Card, and makes the purchase of Stable Dollars and makes use of the functionalities provided in the Application.
1.5. “Personal Data”: It is all the information that allows identifying or making identifiable a natural person.
1.6. “Sensitive Personal Data”: Those data that affect the privacy of the Data Subjects or whose misuse may lead to discrimination. Sensitive Personal Information may include racial or ethnic origin, political orientation, religious or philosophical beliefs, among others.
1.7. “Establishment of Commerce”: A set of assets organized by an entrepreneur to develop and fulfill the company's purposes, including but not limited to: stores, factories, warehouses, etc., through which payments can be made with Stable Dollars or via the Stable Card for products or services offered by these establishments, nationally and internationally.
1.8. “Privacy Policy”: A physical, electronic, or other format document generated by Stable and made available to the holder upon downloading and accessing the Application.
1.9. “Data Processing Responsible Party”: A natural or legal person, of a private nature, who decides on the processing of Personal Data.
1.10. “Service(s)”: All those included in the Stable App and offered to Clients once they successfully register in the Application. These will be made available to Clients to acquire Stable Dollars, make purchases and transfers nationally and internationally, and access experiences sponsored by Stable.
1.11. “Stable”: Refers to STABLE APP LLC and STABLE COLOMBIA S.A.S., the providers and operators of the Application, Services, and Cards.
1.12. “Stable Dollar(s)”: A digital right that functions as an alternative to physical money, equivalent to the value of one dollar. These can be acquired by Clients through the Stable App to use at any Establishment of Commerce. Stable Dollars are characterized by maintaining parity with the current and real value of the dollar.
1.13. “Stable Card”: The card issued by Stable to the Client, once they have successfully registered, allowing them to use it as a payment alternative for acquiring products and services. If the Client requests the Stable Card physically, they will receive it at their registered address.
1.14. “Terms and Conditions of Service”: Refers to these terms and conditions of service, which are accepted by the Client at the time of completing the registration form and creating their account.
1.15. “Data Subjects”: The natural person to whom the Personal Data belongs.
1.16. “Wallet”: The virtual wallet hosted in the Stable operating system, where the Client can see the amount of Stable Dollars they have acquired, resold, spent, and transferred. The Stable Dollars available in the Wallet can be used by the Client to purchase any product or service in Establishments of Commerce nationally and internationally.
II. AUTHORIZATION
For the purposes of Authorization referred to in these Terms and Conditions of Service, the Client declares that they understand, accept, and agree to authorize:
2.1. STABLE APP LLC, responsible for providing Clients access to the Application, as well as issuing, backing, guaranteeing, and immediately making available the Stable Dollars acquired by them.
2.2. STABLE COLOMBIA S.A.S., responsible for the process of issuing Cards in the territory.
All of the above in accordance with the terms and conditions of service established herein. The purpose of this Authorization is to ensure Clients fully understand the responsibilities and management tasks of each mentioned entity and to highlight that STABLE COLOMBIA S.A.S. will not have any authority to make discounts, charges, or fees of any kind on the Clients' accounts.
III. NATURE OF THE TERMS AND CONDITIONS OF SERVICE
2.1. STABLE APP LLC, responsible for providing Clients access to the Application, as well as issuing, backing, guaranteeing, and immediately making available the Stable Dollars acquired by them.
2.2. STABLE COLOMBIA S.A.S., responsible for the process of issuing Cards in the territory. All of the above in accordance with the terms and conditions of service established herein. The purpose of this Authorization is to ensure Clients fully understand the responsibilities and management tasks of each mentioned entity and to highlight that STABLE COLOMBIA S.A.S. will not have any authority to make discounts, charges, or fees of any kind on the Clients' accounts.
III. NATURE OF THE TERMS AND CONDITIONS OF SERVICE
Stable provides the Application to Clients with the aim of offering a suitable and secure tool for purchasing Stable Dollars, using the Stable Card, and accessing the Wallet. The Terms and Conditions of Service regulate the use and rules that Clients must accept to access the Services through the Stable App.
They also regulate the commercial contractual relationship between Clients and Stable, particularly concerning the following activities: (i) the purchase, sale, transfer, and use of Stable Dollars; (ii) navigation and use of the Services offered through the Stable App by Clients, (iii) general conditions of the Application's use, and (iii) prohibited behaviors for Clients.
To access and use the Application and the Services offered by Stable, Clients must accept the Terms and Conditions of Service. If any Client does not accept the Terms and Conditions of Service, Stable is fully authorized to deny such Client access to the Stable App, the Services, and particularly the purchase of Stable Dollars.
Similarly, by linking, registering, and/or using the Services, the Client expressly and unequivocally authorizes Stable to process their Personal Data under the terms of this Authorization and in accordance with our Privacy Policy.
IV. MODIFICATION TO THE TERMS AND CONDITIONS OF SERVICE
These Terms and Conditions of Service may be modified, changed, and updated as deemed necessary at the full discretion of Stable. All changes take effect from their publication and notification to Clients. Clients will have the option to accept or reject the changes included in the Terms and Conditions of Service. If rejected, the Client will lose the right to use the Services offered through the Stable App.
V. GENERAL CONDITIONS OF APPLICATION USE
The Terms and Conditions of Service apply to the use, access, purchase, and sale of Stable Dollars and, in general, to all other activities related to the Application and Services provided by Stable and its partners through the Stable App. The Application serves as a tool for the purchase and sale of Stable Dollars, which can be used by Clients to make payments at commercial establishments nationally and internationally. When making payments, Stable converts Stable Dollars into fiat currency for the commercial establishment to process the Client's payment.
Downloading the Application does not constitute a license for the assignment of rights over the software; instead, Stable grants exclusive, personal, and non-commercial use of its software to the Client. All other rights not mentioned in the Terms and Conditions remain the exclusive property of Stable.
The Service offered by Stable will be available after completing the initial registration process, accepting the authorization for the processing of Personal Data mentioned in the Privacy Policy, and passing the Know Your Client (KYC) process.
After completing these steps, Stable will automatically create an account within the Application, where Clients can request the issuance of their Stable Card and purchase Stable Dollars at their sole discretion. For this, Stable will collect and verify the following:
5.1 Credit information, both positive and negative, stored in credit risk databases, telecommunications companies, and/or publicly accessible sources, in compliance with applicable legislation. This data is used for identity validation and to complete or correct information obtained from secure and reliable sources, such as public entities, service providers, or Stable's business partners.
5.2 During account registration, Clients commit to providing truthful and accurate information solely to allow Stable to verify their identity and detect money laundering, terrorist financing, fraud, or any other financial crime. Stable will keep a record of this information and reserves the right to conduct additional investigations to protect itself and other Clients.
5.3 Based on these investigations, Stable reserves the right to take measures deemed necessary based on the findings.
All Clients registered in the Application will have access to at least the following sections:
5.1 “Profile”: A section where Clients can view, edit, or update their registered personal information.
5.2 “Stable Card”: A section where Clients can verify all information related to their Stable Card.
5.3 “Transfers”: An informational module containing the history of transfers made by the Client, offering various options to transfer funds from a savings account or credit card created with an authorized financial institution to purchase Stable Dollars; send Stable Dollars to other Clients, or even resell their Stable Dollars to Stable.
5.4 “Wallet”: An informational tab displaying the total Stable Dollars available.
5.5 “Settings”: Application settings options such as changing the language, changing the password, notifications, filing PQRs, among others.
5.6 “About Stable App”: A section where Clients can read and consult relevant information about Stable, the Terms and Conditions of Service, and the Privacy Policy.
Stable assumes no responsibility for: (i) any interruption or cessation of transmission to or from the Application; (ii) any failures, viruses, or similar issues that may occur during the provision of Services; (iii) deductions for legally mandated withholdings and taxes; and (iv) additional fees charged by Clients' specific banking entities, third parties for various service provisions, such as maintenance costs for Services, fees charged by non-bank ATMs, and others related to the Services.
By accepting the Terms and Conditions of Service, Clients understand and agree that they may receive communications from Stable or entities designated directly or indirectly by Stable, including notices, surveys, and/or notifications required or not by current legal regulations.
In any case, Stable may notify Clients of any unusual activity it deems necessary to prevent unauthorized access or transactions in their registered account.
Clients are responsible for: (i) Having an Android or iOS device (without modifications to its operating system) with an updated operating system and making all necessary configuration changes to access and use the Service properly. Stable only requests access to data relevant to the primary functionality of the Application and collects only the data necessary to fulfill its Services. Stable will not be held responsible if Clients' mobile devices experience operating system errors due to device age, lack of software updates, or memory capacity issues; (ii) ensuring no unauthorized person uses their account to access the Service; (iii) paying all fees required for Service use, including but not limited to internet provider fees and charges for data usage exceeding the data limit agreed with their mobile operator; (iv) accepting the processing of their Personal Data; (v) understanding that Stable’s Service and Application are delivered under a license for exclusive and personal use; (vi) using the Service as determined in these Terms and Conditions; and (vii) carefully and responsibly verifying transaction details as the Service is provided as-is. Stable is limited to the obligations acquired under these Terms and Conditions.
VI. CONFIDENTIALITY OF INFORMATION FOR REGISTRATION AND LOGIN TO THE STABLE APPLICATION
The Client's name, password, or any other information chosen by the Client to identify themselves in the Application, or that is provided or suggested as part of our security procedures, must be treated as confidential and must not be disclosed to any other natural or legal person.
By accepting the Terms and Conditions of Service, you also acknowledge that your account is personal and agree not to provide any other person or third party access to Stable App using your registration information (Client name, password, or other security information). Therefore, the Client agrees that the account and the data associated with it are non-transferable and that if any unauthorized access to their account in the Application or the use of their Client name or password is noticed, as well as any other security breach, they will immediately notify Stable.
The Client agrees that it is their responsibility to ensure they log out of their Stable App account when they do not need to use the Services. They also understand that using public devices to access their account is a risk to the extent that unauthorized third parties may see or record their password or other personal information.
Stable reserves the right to disable any Client name, password, or other identifier, whether chosen by you or provided by us, including, but not limited to, cases of Client misuse or account misuse concerning these Terms and Conditions, or in violation of any applicable law or regulation.
VII. CLIENT STATEMENTS
By requesting the opening of a Client account in Stable App, the Client, by doing so, will be declaring, guaranteeing, and consenting that the following statements are and will remain true throughout the duration of the corresponding legal relationship with Stable:
7.1 They are over fourteen (14) years old, have the necessary capacities and authorizations to engage with Stable as a result of using the Services.
7.2 They have provided truthful, accurate, and complete information.
7.3 The funds used to purchase Stable Dollars through the Application are their property and not that of others, and their origin comes from lawful activities.
7.4 The Client does not reside in countries considered high-risk territories or jurisdictions according to the criteria established by the competent authorities in Colombia, the Financial Action Task Force (FATF), and/or Stable's internal policies.
7.5 The Client is not listed on OFAC sanctions lists or other global sanctions lists.
7.6 The Client is not on Terrorist Lists issued by the United Nations Security Council (UNSC).
7.7 They are not anonymous nor using a fictitious name.
7.8 They are not related to criminal activities, especially those linked to drug trafficking, terrorism, or organized crime.
7.9 They do not qualify as 'shell banks,' meaning banks without a physical presence in the jurisdiction in which they are incorporated and authorized and that are not affiliated with a regulated financial group subject to effective consolidated supervision.
7.10 They understand how Stable Dollars are acquired and how they can be used.
7.11 They know that the value of one (1) Stable Dollar is equivalent to one (1) US dollar.
7.12 They use the Application legally.
7.13 They are not linked to proceedings and/or judicial investigations and/or restrictive lists related to money laundering, financing terrorism, proliferation of weapons of mass destruction, child prostitution, corruption acts, and other illegal and/or illicit activities.
7.14 They do not access the Services using automated means of any kind without Stable's prior express consent.
7.15 They agree to indemnify Stable and its direct and indirect personnel for any consequences that providing the Services may generate.
7.16 The Client is exclusively responsible for managing and safeguarding the suitability and accuracy of the information provided through Stable App, as well as maintaining custody of the Client and access key associated with their personal account. It will be understood in all cases that any access and/or use of the Application using the Client and access key associated with the account is carried out by the Client unless they subsequently inform otherwise through the means provided in Stable App, providing the necessary evidence for such purpose.
7.17 They understand that registering in Stable App does not automatically grant them the Stable Card, with which they can purchase products and services at various Commercial Establishments, under the parameters established in the Terms and Conditions of Service. Therefore, if they wish to have the Stable Card physically, they must request it once they meet the requirements set by Stable.
7.18 They are aware that the use of the Stable Card is personal and non-transferable, so they cannot sell, rent, or transfer it (in whole or in part) to any third party.
7.19 They have read and fully acknowledge these Terms and Conditions of Service.
VIII. OBLIGACIONES DE LOS CLIENTES
Con la aceptación de los Términos y Condiciones de Servicio de Stable App, el Cliente se obliga a:
8.1 Provide truthful and reliable information from the moment they request the creation of their own account in the Stable Application until the relationship with Stable ends.
8.2 Refrain from transferring validation data (Customer name and password) to third parties.
8.3 Refrain from accessing and/or using Stable App to perform acts contrary to morality, public order, good customs, or illegal acts against Stable or third parties.
8.4 Inform Stable immediately in case of cancellation or opposition to validation data.
8.5 Refrain from performing actions that disrupt the functioning of the Application, such as reverse engineering, decompilation, or using the Stable Application to create derivative software, etc.
8.6 Access the Application and perform transactions only when connected to secure networks and from personal devices.
8.7 Maintain proper confidentiality about the form, management, functionalities, and facilities of the Services contained in the Application.
8.8 Report to Stable any dissatisfaction and/or alteration noticed in the use or data of their profile.
8.9 Not transfer the rights and commitments assumed through the Stable Card.
8.10 Not license, sell, resell, sublicense, assign, distribute, advertise, or commercially exploit the Application, Stable trademarks, tools, and/or Services it provides.
8.11 Change their password preventively at least once a month through the Application.
8.12 Keep the information provided within the Application updated.
8.13 Keep the Application updated to ensure its proper functioning.
8.14 Refrain from impersonating other Customers.
8.15 Refrain from modifying any component of the Application through reverse engineering.
8.16 Enable pop-up windows during the operation of the Application.
8.17 Authorize Stable App to access phone functionalities such as the camera, location, contacts, among others as necessary.
8.18 Transfer funds for the purchase of Stable Dollars only from their own, secure, and reliable accounts.
8.19 Acquire Stable Dollars with money originating from lawful activities.
8.20 Perform all actions necessary for the proper provision of Services.
IX. DUTIES OF STABLE
Under these Terms and Conditions of Service, Stable undertakes to:
9.1 Provide true, reliable, sufficient, clear, and updated information regarding the Services it offers.
9.2 Specify the general characteristics of the Service to serve as a reference for Customers.
9.3 Provide adequate information on the means available for Customers to perform transfers, top-ups, purchases, and withdrawals with Stable Dollars.
9.4 Provide adequate information on the means available for Customers to exercise their rights of access, rectification, cancellation, and opposition.
9.5 Keep the Terms and Conditions of the Stable Application updated and available to Customers.
9.6 Use the information only for the purposes established in these Terms and Conditions and Privacy Policy.
9.7 Use information and validation mechanisms during transactions, such as pop-ups, to allow Customers to accept or reject each step of the process involving the purchase, sale, transfer, or withdrawal of Stable Dollars.
9.8 Make every effort within its capabilities to maintain a 1:1 relationship between Stable Dollars and the US dollar.
9.9 Ensure the existence and availability of a monetary reserve to back the availability of Customers' Stable Dollars.
9.10 Keep the Stable Dollars deposited in the Customer's account secure.
9.11 Provide Customers with a record of transactions performed.
9.12 Notify Customers of any discounts, bonuses, or promotions related to acquiring Stable Dollars as a result of the Services provided.
9.13 Establish technical and technological mechanisms for resolving Customers' requests, complaints, or claims.
X. REGISTRATION, AUTHENTICATION FACTORS, AND RESTRICTIONS
To use the Application, the Customer must have set up an access password and/or an additional security mechanism such as facial recognition or fingerprint during the registration process. Therefore, the Customer acknowledges that this mechanism is unique, personal, and non-transferable.
The Customer is responsible for prudence, custody, and absolute confidentiality to prevent third parties from accessing the Application from their account and Services. Additionally, Stable will require minimum security standards for the assignment, update, and use of passwords, which may vary over time with prior notice to the Customer.
If the Customer forgets the access password, they may request its reset through a mechanism provided by Stable.
By accepting the Terms and Conditions of Service, the Customer acknowledges that Stable has the authority at all times to deny, restrict, suspend, cancel, or conditionally access and/or use the Application, temporarily or permanently, if it deems that the Customer has misused the Application.
XI. TRANSFERS, PURCHASES, AND TOP-UPS
The Client may acquire Stable Dollars through the following options: (i) via recharge received through a bank transfer to the account registered in Stable App or electronic ACH transfer made using an electronic payment system (PSE), (ii) through a recharge at one of the physical points enabled by Stable, (iii) through purchase with a credit card.
In this sense, Stable is not authorized to dispose of the Client's Stable Dollars; the funds deposited by the Client in the Application account will be considered an instruction from the Client for the transfer of Stable Dollars to their Wallet, at the value indicated at the time of receipt. The Client may use the Stable Dollars in their Wallet to purchase products or services at any Merchant Establishment that accepts Stable Dollars or the Mastercard card.
The acquisition value of Stable Dollars will be the amount informed by Stable within the Application, which may be related to but not identical to the Market Representative Rate. In any case, Stable will inform the Client of the value in Stable Dollars of the amount in local currency they intend to deposit when possible.
The value of the Stable Dollar will be equivalent to the value of one US dollar. Under this understanding, Stable will only provide the Stable App platform as a suitable and secure tool for the purchase and sale of Stable Dollars, as well as for granting additional benefits (e.g., the Stable Card), allowing Clients to purchase goods and services at Merchant Establishments. The collection account will be supported by digital platforms belonging to money transfer agents, enabling and facilitating the allocation of those funds for the acquisition of Stable Dollars.
Stable will not directly or indirectly raise funds from the public in national territory for deposit, loan, credit, mutual, or any other operation causing direct or contingent liability. Stable also does not provide investment services (marketing) or advice for the purchase and sale of digital currencies, foreign exchange, securities, or any other type of asset.
For any transfer through Stable App, prior use of passwords and/or biometric systems or codes such as tokens, OTP (One Time Password), transaction codes sent to the mobile device (SMS), acceptance buttons such as yes, accept, or agree, and/or the combination of any other mechanism defined by Stable as a means of identification and expression of consent, will be required to correctly finalize and approve contracts and operations.
XII. TRANSPARENCY IN OPERATIONS
Stable is committed to ensuring the parity of Stable Dollars with the US dollars deposited in their Clients' accounts. In this sense, Stable is responsible for ensuring the availability of funds, not for generating returns on them.
To fulfill the aforementioned purposes, Stable will establish a reserve comprised of its own funds to guarantee the immediate availability of funds in its Clients' accounts. This reserve will solely serve this purpose and cannot be used for other activities.
XIII. TRANSACTION COSTS
When any transaction is made using the Stable Card, the company incurs charges from third parties for executing such operations. These costs will be included in the prices of Stable Dollars offered in the application. Any additional costs to the Stable Dollars price (e.g., ATM withdrawals) will be updated on our website (www.stable-app.com).
XIV. ECONOMIC COMPENSATION
Regarding the purchase and sale of Stable Dollars, the Stable company will receive economic compensation determined by the profit margin obtained from acquiring the US dollar at a more favorable rate. Stable will not charge its Clients any fees for the availability of funds deposited in their accounts, except for service maintenance costs and transaction fees.
XV. ABSENCE OF ADVICE
Any information provided by Stable, either directly or through its social media, partners, or Application, is solely for informational purposes. Stable does not solicit, influence, or recommend any action based on such information. Similarly, Stable does not provide any consultation on the convenience of conducting operations of any kind with Stable Dollars or other intangible rights or assets.
Accordingly, those who use the Application for buying and selling Stable Dollars, by doing so, explicitly understand and accept that Stable does not intend to provide any investment advice.
XVI. ACCESS TO THE CLIENT'S GEOGRAPHIC LOCATION
The Client has full rights and control to determine whether they wish to share their geographic location with Stable through the Application. This feature is enabled for Android and iOS devices to personalize and enhance each Client's experiences and gather the necessary information to provide Stable's services appropriately. However, the Client can enable or disable this feature at any time.
When using the Application for the first time, the Client's explicit consent will be requested to access their geographic location. The Client may provide this initial consent and later revoke it through the Application's privacy settings. This revocation may affect the provision of services.
Revoking consent to share geographic location will adversely impact the Client's ability to use other aspects and features of the Application. The Client will not have access to all functionalities and services available in the Application unless they choose to share their geographic location.
Stable is committed to respecting the Client's privacy and preferences regarding location usage. The collection and processing of location data will comply with the Application's privacy policy and applicable data protection laws.
XVII. STABLE'S INTELLECTUAL PROPERTY
The Application, including but not limited to texts, data, articles, designs, logos, trademarks, forms, documents, graphics, photos, images, general content, its organization and compilation, source codes, software, artificial intelligence, know-how, among others, and any other information contained in the Application, is the property of Stable and is protected by intellectual property laws and international treaties in force in Colombia and the United States regarding this matter.
Stable, its trade names, or distinctive signs appearing in the Application are the property of Stable. Clients acknowledge, declare, and accept that using the Application and the Services provided by it does not grant them any rights over the distinctive signs or the Application.
XVIII. ACCOUNT CANCELLATION AND SUSPENSION
Any Client can terminate their relationship with Stable at any time through the channels enabled for this purpose by Stable in the Application. Once the Client's account is deleted, Stable will delete all their information from the databases, provided there is no legal or contractual obligation to maintain such information. If there is any balance in their favor, Stable will allow the withdrawal of funds to an external account from Stable App.
Similarly, Stable may limit, suspend, freeze, or delete Clients' accounts without prior notice, as well as access to some or all Services, when at Stable's discretion, the Client has violated the Terms and Conditions of Service. Stable also reserves the right to suspend and/or cancel an account in the Application in the following cases:
19.1 When there are inconsistencies in the Personal Data provided by the Client during account registration;
19.2 When, at Stable's discretion, the Client acts as an intermediary, participant, or beneficiary of multi-level or pyramid schemes through Stable App.
19.3 Upon request from a government authority.
19.4 In case of detecting suspicious activities related to money laundering and/or terrorist financing;
19.5 Upon refusal to provide information required by Stable for compliance associated with obligations on money laundering prevention and terrorist financing;
19.6 When activities against applicable legislation are detected, and
19.7 Any other cause determined by Stable.
If a Client's account is suspended, they will not be able to access Stable Dollars during the suspension period, which will be notified to the registered email address. The suspension term will be reasonably evaluated by Stable and will depend on the severity and recurrence of violations.
A Client who violates applicable laws—especially related to terrorism financing or money laundering—will have their account canceled as a sanction. As a result, the Client will not be able to re-register on the Application or use the Services. The funds in a canceled account's Wallet will be reported and allocated to the competent authority to take necessary actions. Stable will make the canceled account available to competent authorities to determine the origin of the funds and potentially return resources to the Client.
If the Client believes their account was suspended or canceled unjustly, they must submit their reasons and supporting evidence through Stable's contact channels. Stable will have the legally established period (fifteen (15) business days) to respond to the request, resolving whether the account's cancellation or suspension was justified or not. If unjustified, the Client acknowledges that no compensation will be granted.
XIX. PROHIBITED ECONOMIC ACTIVITIES
Stable will not allow Clients engaged in the following economic activities under any circumstances:
19.1. Manufacture and/or commercialization of firearms, explosives, ammunition, and/or related materials.
19.2. Manufacture and/or commercialization of narcotics and drugs.
19.3. Commercialization of pornography-related content.
19.4. Prostitution and/or related services.
19.5. Any other illegal activity according to local legislation.
XX. RISKS OF OPERATIONS WITH DIGITAL RIGHTS
Anyone using the Services, by doing so, freely, autonomously, and voluntarily chooses to engage in operations that involve the inherent risks of activities carried out with digital rights through technological platforms.
Stable, in developing activities related to the Services, has implemented processes and procedures aimed at ensuring maximum security for Service Clients. However, this does not imply that the Services are free from the various risks associated with operations involving digital rights with characteristics similar to those subject to the Services, including, but not limited to, technological failures and any type of actions and/or elements used to commit cybercrimes.
Stable guarantees the Client that, unless they use their Stable Dollars to acquire products or services, they will always have access to the Stable Dollars they have acquired, regardless of changes in the Representative Market Rate. Likewise, the Client understands and acknowledges that the value of the currency represented in Stable Dollars can be volatile, and Stable is not and will not be responsible or liable for losses incurred due to market currency fluctuations.
Consequently, Stable does not offer financial services or conduct activities requiring authorization for operation as financial entities.
XXI. TAXES
The Client is solely responsible for paying all taxes, fees, contributions, and duties applicable to activities arising from the Services unless expressly attributable to Stable by law. Accordingly, anyone using the Services is solely responsible for reporting transactions made through the Services to tax authorities as required by applicable law. Stable may provide relevant information to competent authorities as per the applicable legislation.
Stable does not provide tax advice. Clients are solely responsible for determining the tax implications of using the Services.
XXII. HIGH-RISK JURISDICTIONS
The Client, along with their representatives, administrators, and shareholders, declares that they do not reside in countries or territories considered high-risk jurisdictions as per the criteria established by competent authorities, the Financial Action Task Force, and Stable's internal policies. Clients will only access the Services from countries and jurisdictions other than those listed.
If connections are made from any of the aforementioned countries or jurisdictions by any means, Stable reserves the right to suspend and/or cancel the Client's account.
XXIII. INVOICE STANDARDIZATION
For the purposes of electronic invoicing established in Colombia, the reporting of operations carried out monthly by the Client will be considered its equivalent. Each support document issued and recorded by Stable in the Application will be automatically registered so that they can be consulted and used in real-time and immediately by the Client as needed.
XXIV. DISCLAIMER OF LIABILITY
Clients understand and accept that Stable has no involvement in the transactions, purchases, or withdrawals that the Client autonomously decides to carry out in different Commercial Establishments, nor is it responsible for the insolvency of the bank, financial institution, or agent used for acquiring Stable Dollars. Stable is solely limited to offering a service to the Client—through artificial intelligence—so that their resources are reflected in another unit of measure, such as Stable Dollars.
In any case, Clients will hold Stable, its shareholders, and its personnel, direct or indirect, harmless from claims, lawsuits, damages, and other losses (actual or consequential) of any kind or nature, known or unknown, suspected or not, disclosed or not, resulting in any way arising from a conflict between Clients and/or third parties and Stable.
Clients acknowledge that Stable reserves, can, and has the right to interrupt or impose all the limits it deems appropriate, with notification, and consequently, acknowledge that Stable will not be responsible in case it decides not to provide the Service due to inconsistencies in the documents and information provided. Stable reserves the right of admission and continued presence of Clients in the Application and the authority to decide whether or not to provide the Services exclusively offered in the Application.
Under no circumstances will the collaborators, employees, shareholders, directors, and legal representatives of Stable be responsible for any damage, actual or consequential, caused to Clients derived from errors, omissions, interruptions, defects, delays, or inaccuracies in information, responses, transmission, computer viruses, system failures, and other problems that occur in the Application.
XXV. RESOLUTION OF PQRS AND CUSTOMER SERVICE
Stable Colombia S.A.S. will be responsible for providing clear, sufficient, and timely solutions to all petitions, complaints, claims, and suggestions submitted by its Clients. To this end, the company will have suitable mechanisms for receiving PQRS and will comply with the terms established in Law 1755 of 2015.
Similarly, Stable Colombia S.A.S. will be the company responsible for creating customer service channels so that Clients can request help regarding their products, platform, website, app, and more.
XXVI. APPLICABLE LAW AND JURISDICTION
The applicable law and jurisdiction for the Services offered by Stable will be those of the Republic of Colombia. Matters not regulated in the Terms and Conditions of Service herein will be supplemented or replaced by current legal provisions governing the subject matter of the dispute.
XXVII. SEVERABILITY
If it is determined that any provision of these Terms and Conditions of Service is illegal, void, or unenforceable, such provision will be enforceable to the maximum extent permitted by applicable law, and the unenforceable part will be deemed severable from these Terms and Conditions of Service. Such determination will not affect the validity and enforceability of any other remaining provisions.
XXVIII. CONTACT
Communications that the Client must or wishes to direct to Stable will be made via email addressed to the relevant area. Stable's contact details are:
28.1. Technical support: clientes@stable-app.com
28.2. Customer Service: (+57) 323-801-6000
Communications that Stable must or wishes to direct to the Client will be made via email sent to the address registered by the Client.
XXIX. FINAL STATEMENT
At this time and by this document, Clients acknowledge having read and understood the full content of the Terms and Conditions of Service and, having accepted the provision of Services, expressly, unequivocally, and irrevocably accept their content and the obligations stated herein.
The electronic document in which the Terms and Conditions of Service are formalized will be stored in Stable's Database. If the Client needs to identify and correct errors in submission or in their data, they may contact Stable through the means indicated in this document.
The Client expressly declares to have the legal capacity to use the Application and to enter into sales contracts that may be generated through Stable Dollars in different Commercial Establishments. They also declare to have provided real, truthful, and reliable information.
Therefore, they expressly and unequivocally declare that they have read, understood, and consented to all the assumptions outlined and regulated in the Terms and Conditions of the Stable Application and that Stable is not considered a bank, thereby committing to fully comply with the duties, obligations, actions, and omissions stated herein.
In case Clients from other countries use the Application, they consent to fully comply with the provisions of the Terms and Conditions of the Application and applicable laws.
Effective from September 15, 2023
In particular, each company will act as responsible for the data it processes within the framework of its activities. That is, STABLE APP LLC, as responsible and owner of the Stable Application, as well as the issuance, support, guarantee and immediate availability of the Stable Dollars acquired by the Customers, and STABLE COLOMBIA S.A.S., as responsible for the issuance of Cards in the Colombian territory.
1.DEFINITIONS
The words defined below shall have the meaning indicated for each one of them:
1.1. “Application or Stable App”: It is the platform developed by Stable, which allows Customers to acquire Stable Dollars, access a Wallet, make transfers and purchases at national and international level
1.2. “Authorization”: Consent that, in a prior, express and informed manner, is given by the owner of any Personal Data for the company to carry out the processing of his or her Personal Data.
1.3. “Database”: Organized set of Personal Data that is the object of processing.
1.4. “Customer(s)”: Is any natural person, over fourteen (14) years of age, or legal entity that downloads Stable App, registers, opens its Wallet, obtains its Card, and makes the purchase of Stable Dollars and makes use of the functionalities provided in the Application.
1.5. “Personal Data”: It is all the information that allows identifying or making identifiable a natural person.
1.6. “Sensitive Personal Data”: Those data that affect the privacy of the Data Subjects or whose misuse may lead to discrimination. Sensitive Personal Information may include racial or ethnic origin, political orientation, religious or philosophical beliefs, among others.
1.7. “Establishment of Commerce”: A set of assets organized by an entrepreneur to develop and fulfill the company's purposes, including but not limited to: stores, factories, warehouses, etc., through which payments can be made with Stable Dollars or via the Stable Card for products or services offered by these establishments, nationally and internationally.
1.8. “Privacy Policy”: A physical, electronic, or other format document generated by Stable and made available to the holder upon downloading and accessing the Application.
1.9. “Data Processing Responsible Party”: A natural or legal person, of a private nature, who decides on the processing of Personal Data.
1.10. “Service(s)”: All those included in the Stable App and offered to Clients once they successfully register in the Application. These will be made available to Clients to acquire Stable Dollars, make purchases and transfers nationally and internationally, and access experiences sponsored by Stable.
1.11. “Stable”: Refers to STABLE APP LLC and STABLE COLOMBIA S.A.S., the providers and operators of the Application, Services, and Cards.
1.12. “Stable Dollar(s)”: A digital right that functions as an alternative to physical money, equivalent to the value of one dollar. These can be acquired by Clients through the Stable App to use at any Establishment of Commerce. Stable Dollars are characterized by maintaining parity with the current and real value of the dollar.
1.13. “Stable Card”: The card issued by Stable to the Client, once they have successfully registered, allowing them to use it as a payment alternative for acquiring products and services. If the Client requests the Stable Card physically, they will receive it at their registered address.
1.14. “Terms and Conditions of Service”: Refers to these terms and conditions of service, which are accepted by the Client at the time of completing the registration form and creating their account.
1.15. “Data Subjects”: The natural person to whom the Personal Data belongs.
1.16. “Wallet”: The virtual wallet hosted in the Stable operating system, where the Client can see the amount of Stable Dollars they have acquired, resold, spent, and transferred. The Stable Dollars available in the Wallet can be used by the Client to purchase any product or service in Establishments of Commerce nationally and internationally.
II. AUTHORIZATION
For the purposes of Authorization referred to in these Terms and Conditions of Service, the Client declares that they understand, accept, and agree to authorize:
2.1. STABLE APP LLC, responsible for providing Clients access to the Application, as well as issuing, backing, guaranteeing, and immediately making available the Stable Dollars acquired by them.
2.2. STABLE COLOMBIA S.A.S., responsible for the process of issuing Cards in the territory.
All of the above in accordance with the terms and conditions of service established herein. The purpose of this Authorization is to ensure Clients fully understand the responsibilities and management tasks of each mentioned entity and to highlight that STABLE COLOMBIA S.A.S. will not have any authority to make discounts, charges, or fees of any kind on the Clients' accounts.
III. NATURE OF THE TERMS AND CONDITIONS OF SERVICE
2.1. STABLE APP LLC, responsible for providing Clients access to the Application, as well as issuing, backing, guaranteeing, and immediately making available the Stable Dollars acquired by them.
2.2. STABLE COLOMBIA S.A.S., responsible for the process of issuing Cards in the territory. All of the above in accordance with the terms and conditions of service established herein. The purpose of this Authorization is to ensure Clients fully understand the responsibilities and management tasks of each mentioned entity and to highlight that STABLE COLOMBIA S.A.S. will not have any authority to make discounts, charges, or fees of any kind on the Clients' accounts.
III. NATURE OF THE TERMS AND CONDITIONS OF SERVICE
Stable provides the Application to Clients with the aim of offering a suitable and secure tool for purchasing Stable Dollars, using the Stable Card, and accessing the Wallet. The Terms and Conditions of Service regulate the use and rules that Clients must accept to access the Services through the Stable App.
They also regulate the commercial contractual relationship between Clients and Stable, particularly concerning the following activities: (i) the purchase, sale, transfer, and use of Stable Dollars; (ii) navigation and use of the Services offered through the Stable App by Clients, (iii) general conditions of the Application's use, and (iii) prohibited behaviors for Clients.
To access and use the Application and the Services offered by Stable, Clients must accept the Terms and Conditions of Service. If any Client does not accept the Terms and Conditions of Service, Stable is fully authorized to deny such Client access to the Stable App, the Services, and particularly the purchase of Stable Dollars.
Similarly, by linking, registering, and/or using the Services, the Client expressly and unequivocally authorizes Stable to process their Personal Data under the terms of this Authorization and in accordance with our Privacy Policy.
IV. MODIFICATION TO THE TERMS AND CONDITIONS OF SERVICE
These Terms and Conditions of Service may be modified, changed, and updated as deemed necessary at the full discretion of Stable. All changes take effect from their publication and notification to Clients. Clients will have the option to accept or reject the changes included in the Terms and Conditions of Service. If rejected, the Client will lose the right to use the Services offered through the Stable App.
V. GENERAL CONDITIONS OF APPLICATION USE
The Terms and Conditions of Service apply to the use, access, purchase, and sale of Stable Dollars and, in general, to all other activities related to the Application and Services provided by Stable and its partners through the Stable App. The Application serves as a tool for the purchase and sale of Stable Dollars, which can be used by Clients to make payments at commercial establishments nationally and internationally. When making payments, Stable converts Stable Dollars into fiat currency for the commercial establishment to process the Client's payment.
Downloading the Application does not constitute a license for the assignment of rights over the software; instead, Stable grants exclusive, personal, and non-commercial use of its software to the Client. All other rights not mentioned in the Terms and Conditions remain the exclusive property of Stable.
The Service offered by Stable will be available after completing the initial registration process, accepting the authorization for the processing of Personal Data mentioned in the Privacy Policy, and passing the Know Your Client (KYC) process.
After completing these steps, Stable will automatically create an account within the Application, where Clients can request the issuance of their Stable Card and purchase Stable Dollars at their sole discretion. For this, Stable will collect and verify the following:
5.1 Credit information, both positive and negative, stored in credit risk databases, telecommunications companies, and/or publicly accessible sources, in compliance with applicable legislation. This data is used for identity validation and to complete or correct information obtained from secure and reliable sources, such as public entities, service providers, or Stable's business partners.
5.2 During account registration, Clients commit to providing truthful and accurate information solely to allow Stable to verify their identity and detect money laundering, terrorist financing, fraud, or any other financial crime. Stable will keep a record of this information and reserves the right to conduct additional investigations to protect itself and other Clients.
5.3 Based on these investigations, Stable reserves the right to take measures deemed necessary based on the findings.
All Clients registered in the Application will have access to at least the following sections:
5.1 “Profile”: A section where Clients can view, edit, or update their registered personal information.
5.2 “Stable Card”: A section where Clients can verify all information related to their Stable Card.
5.3 “Transfers”: An informational module containing the history of transfers made by the Client, offering various options to transfer funds from a savings account or credit card created with an authorized financial institution to purchase Stable Dollars; send Stable Dollars to other Clients, or even resell their Stable Dollars to Stable.
5.4 “Wallet”: An informational tab displaying the total Stable Dollars available.
5.5 “Settings”: Application settings options such as changing the language, changing the password, notifications, filing PQRs, among others.
5.6 “About Stable App”: A section where Clients can read and consult relevant information about Stable, the Terms and Conditions of Service, and the Privacy Policy.
Stable assumes no responsibility for: (i) any interruption or cessation of transmission to or from the Application; (ii) any failures, viruses, or similar issues that may occur during the provision of Services; (iii) deductions for legally mandated withholdings and taxes; and (iv) additional fees charged by Clients' specific banking entities, third parties for various service provisions, such as maintenance costs for Services, fees charged by non-bank ATMs, and others related to the Services.
By accepting the Terms and Conditions of Service, Clients understand and agree that they may receive communications from Stable or entities designated directly or indirectly by Stable, including notices, surveys, and/or notifications required or not by current legal regulations.
In any case, Stable may notify Clients of any unusual activity it deems necessary to prevent unauthorized access or transactions in their registered account.
Clients are responsible for: (i) Having an Android or iOS device (without modifications to its operating system) with an updated operating system and making all necessary configuration changes to access and use the Service properly. Stable only requests access to data relevant to the primary functionality of the Application and collects only the data necessary to fulfill its Services. Stable will not be held responsible if Clients' mobile devices experience operating system errors due to device age, lack of software updates, or memory capacity issues; (ii) ensuring no unauthorized person uses their account to access the Service; (iii) paying all fees required for Service use, including but not limited to internet provider fees and charges for data usage exceeding the data limit agreed with their mobile operator; (iv) accepting the processing of their Personal Data; (v) understanding that Stable’s Service and Application are delivered under a license for exclusive and personal use; (vi) using the Service as determined in these Terms and Conditions; and (vii) carefully and responsibly verifying transaction details as the Service is provided as-is. Stable is limited to the obligations acquired under these Terms and Conditions.
VI. CONFIDENTIALITY OF INFORMATION FOR REGISTRATION AND LOGIN TO THE STABLE APPLICATION
The Client's name, password, or any other information chosen by the Client to identify themselves in the Application, or that is provided or suggested as part of our security procedures, must be treated as confidential and must not be disclosed to any other natural or legal person.
By accepting the Terms and Conditions of Service, you also acknowledge that your account is personal and agree not to provide any other person or third party access to Stable App using your registration information (Client name, password, or other security information). Therefore, the Client agrees that the account and the data associated with it are non-transferable and that if any unauthorized access to their account in the Application or the use of their Client name or password is noticed, as well as any other security breach, they will immediately notify Stable.
The Client agrees that it is their responsibility to ensure they log out of their Stable App account when they do not need to use the Services. They also understand that using public devices to access their account is a risk to the extent that unauthorized third parties may see or record their password or other personal information.
Stable reserves the right to disable any Client name, password, or other identifier, whether chosen by you or provided by us, including, but not limited to, cases of Client misuse or account misuse concerning these Terms and Conditions, or in violation of any applicable law or regulation.
VII. CLIENT STATEMENTS
By requesting the opening of a Client account in Stable App, the Client, by doing so, will be declaring, guaranteeing, and consenting that the following statements are and will remain true throughout the duration of the corresponding legal relationship with Stable:
7.1 They are over fourteen (14) years old, have the necessary capacities and authorizations to engage with Stable as a result of using the Services.
7.2 They have provided truthful, accurate, and complete information.
7.3 The funds used to purchase Stable Dollars through the Application are their property and not that of others, and their origin comes from lawful activities.
7.4 The Client does not reside in countries considered high-risk territories or jurisdictions according to the criteria established by the competent authorities in Colombia, the Financial Action Task Force (FATF), and/or Stable's internal policies.
7.5 The Client is not listed on OFAC sanctions lists or other global sanctions lists.
7.6 The Client is not on Terrorist Lists issued by the United Nations Security Council (UNSC).
7.7 They are not anonymous nor using a fictitious name.
7.8 They are not related to criminal activities, especially those linked to drug trafficking, terrorism, or organized crime.
7.9 They do not qualify as 'shell banks,' meaning banks without a physical presence in the jurisdiction in which they are incorporated and authorized and that are not affiliated with a regulated financial group subject to effective consolidated supervision.
7.10 They understand how Stable Dollars are acquired and how they can be used.
7.11 They know that the value of one (1) Stable Dollar is equivalent to one (1) US dollar.
7.12 They use the Application legally.
7.13 They are not linked to proceedings and/or judicial investigations and/or restrictive lists related to money laundering, financing terrorism, proliferation of weapons of mass destruction, child prostitution, corruption acts, and other illegal and/or illicit activities.
7.14 They do not access the Services using automated means of any kind without Stable's prior express consent.
7.15 They agree to indemnify Stable and its direct and indirect personnel for any consequences that providing the Services may generate.
7.16 The Client is exclusively responsible for managing and safeguarding the suitability and accuracy of the information provided through Stable App, as well as maintaining custody of the Client and access key associated with their personal account. It will be understood in all cases that any access and/or use of the Application using the Client and access key associated with the account is carried out by the Client unless they subsequently inform otherwise through the means provided in Stable App, providing the necessary evidence for such purpose.
7.17 They understand that registering in Stable App does not automatically grant them the Stable Card, with which they can purchase products and services at various Commercial Establishments, under the parameters established in the Terms and Conditions of Service. Therefore, if they wish to have the Stable Card physically, they must request it once they meet the requirements set by Stable.
7.18 They are aware that the use of the Stable Card is personal and non-transferable, so they cannot sell, rent, or transfer it (in whole or in part) to any third party.
7.19 They have read and fully acknowledge these Terms and Conditions of Service.
VIII. OBLIGACIONES DE LOS CLIENTES
Con la aceptación de los Términos y Condiciones de Servicio de Stable App, el Cliente se obliga a:
8.1 Provide truthful and reliable information from the moment they request the creation of their own account in the Stable Application until the relationship with Stable ends.
8.2 Refrain from transferring validation data (Customer name and password) to third parties.
8.3 Refrain from accessing and/or using Stable App to perform acts contrary to morality, public order, good customs, or illegal acts against Stable or third parties.
8.4 Inform Stable immediately in case of cancellation or opposition to validation data.
8.5 Refrain from performing actions that disrupt the functioning of the Application, such as reverse engineering, decompilation, or using the Stable Application to create derivative software, etc.
8.6 Access the Application and perform transactions only when connected to secure networks and from personal devices.
8.7 Maintain proper confidentiality about the form, management, functionalities, and facilities of the Services contained in the Application.
8.8 Report to Stable any dissatisfaction and/or alteration noticed in the use or data of their profile.
8.9 Not transfer the rights and commitments assumed through the Stable Card.
8.10 Not license, sell, resell, sublicense, assign, distribute, advertise, or commercially exploit the Application, Stable trademarks, tools, and/or Services it provides.
8.11 Change their password preventively at least once a month through the Application.
8.12 Keep the information provided within the Application updated.
8.13 Keep the Application updated to ensure its proper functioning.
8.14 Refrain from impersonating other Customers.
8.15 Refrain from modifying any component of the Application through reverse engineering.
8.16 Enable pop-up windows during the operation of the Application.
8.17 Authorize Stable App to access phone functionalities such as the camera, location, contacts, among others as necessary.
8.18 Transfer funds for the purchase of Stable Dollars only from their own, secure, and reliable accounts.
8.19 Acquire Stable Dollars with money originating from lawful activities.
8.20 Perform all actions necessary for the proper provision of Services.
IX. DUTIES OF STABLE
Under these Terms and Conditions of Service, Stable undertakes to:
9.1 Provide true, reliable, sufficient, clear, and updated information regarding the Services it offers.
9.2 Specify the general characteristics of the Service to serve as a reference for Customers.
9.3 Provide adequate information on the means available for Customers to perform transfers, top-ups, purchases, and withdrawals with Stable Dollars.
9.4 Provide adequate information on the means available for Customers to exercise their rights of access, rectification, cancellation, and opposition.
9.5 Keep the Terms and Conditions of the Stable Application updated and available to Customers.
9.6 Use the information only for the purposes established in these Terms and Conditions and Privacy Policy.
9.7 Use information and validation mechanisms during transactions, such as pop-ups, to allow Customers to accept or reject each step of the process involving the purchase, sale, transfer, or withdrawal of Stable Dollars.
9.8 Make every effort within its capabilities to maintain a 1:1 relationship between Stable Dollars and the US dollar.
9.9 Ensure the existence and availability of a monetary reserve to back the availability of Customers' Stable Dollars.
9.10 Keep the Stable Dollars deposited in the Customer's account secure.
9.11 Provide Customers with a record of transactions performed.
9.12 Notify Customers of any discounts, bonuses, or promotions related to acquiring Stable Dollars as a result of the Services provided.
9.13 Establish technical and technological mechanisms for resolving Customers' requests, complaints, or claims.
X. REGISTRATION, AUTHENTICATION FACTORS, AND RESTRICTIONS
To use the Application, the Customer must have set up an access password and/or an additional security mechanism such as facial recognition or fingerprint during the registration process. Therefore, the Customer acknowledges that this mechanism is unique, personal, and non-transferable.
The Customer is responsible for prudence, custody, and absolute confidentiality to prevent third parties from accessing the Application from their account and Services. Additionally, Stable will require minimum security standards for the assignment, update, and use of passwords, which may vary over time with prior notice to the Customer.
If the Customer forgets the access password, they may request its reset through a mechanism provided by Stable.
By accepting the Terms and Conditions of Service, the Customer acknowledges that Stable has the authority at all times to deny, restrict, suspend, cancel, or conditionally access and/or use the Application, temporarily or permanently, if it deems that the Customer has misused the Application.
XI. TRANSFERS, PURCHASES, AND TOP-UPS
The Client may acquire Stable Dollars through the following options: (i) via recharge received through a bank transfer to the account registered in Stable App or electronic ACH transfer made using an electronic payment system (PSE), (ii) through a recharge at one of the physical points enabled by Stable, (iii) through purchase with a credit card.
In this sense, Stable is not authorized to dispose of the Client's Stable Dollars; the funds deposited by the Client in the Application account will be considered an instruction from the Client for the transfer of Stable Dollars to their Wallet, at the value indicated at the time of receipt. The Client may use the Stable Dollars in their Wallet to purchase products or services at any Merchant Establishment that accepts Stable Dollars or the Mastercard card.
The acquisition value of Stable Dollars will be the amount informed by Stable within the Application, which may be related to but not identical to the Market Representative Rate. In any case, Stable will inform the Client of the value in Stable Dollars of the amount in local currency they intend to deposit when possible.
The value of the Stable Dollar will be equivalent to the value of one US dollar. Under this understanding, Stable will only provide the Stable App platform as a suitable and secure tool for the purchase and sale of Stable Dollars, as well as for granting additional benefits (e.g., the Stable Card), allowing Clients to purchase goods and services at Merchant Establishments. The collection account will be supported by digital platforms belonging to money transfer agents, enabling and facilitating the allocation of those funds for the acquisition of Stable Dollars.
Stable will not directly or indirectly raise funds from the public in national territory for deposit, loan, credit, mutual, or any other operation causing direct or contingent liability. Stable also does not provide investment services (marketing) or advice for the purchase and sale of digital currencies, foreign exchange, securities, or any other type of asset.
For any transfer through Stable App, prior use of passwords and/or biometric systems or codes such as tokens, OTP (One Time Password), transaction codes sent to the mobile device (SMS), acceptance buttons such as yes, accept, or agree, and/or the combination of any other mechanism defined by Stable as a means of identification and expression of consent, will be required to correctly finalize and approve contracts and operations.
XII. TRANSPARENCY IN OPERATIONS
Stable is committed to ensuring the parity of Stable Dollars with the US dollars deposited in their Clients' accounts. In this sense, Stable is responsible for ensuring the availability of funds, not for generating returns on them.
To fulfill the aforementioned purposes, Stable will establish a reserve comprised of its own funds to guarantee the immediate availability of funds in its Clients' accounts. This reserve will solely serve this purpose and cannot be used for other activities.
XIII. TRANSACTION COSTS
When any transaction is made using the Stable Card, the company incurs charges from third parties for executing such operations. These costs will be included in the prices of Stable Dollars offered in the application. Any additional costs to the Stable Dollars price (e.g., ATM withdrawals) will be updated on our website (www.stable-app.com).
XIV. ECONOMIC COMPENSATION
Regarding the purchase and sale of Stable Dollars, the Stable company will receive economic compensation determined by the profit margin obtained from acquiring the US dollar at a more favorable rate. Stable will not charge its Clients any fees for the availability of funds deposited in their accounts, except for service maintenance costs and transaction fees.
XV. ABSENCE OF ADVICE
Any information provided by Stable, either directly or through its social media, partners, or Application, is solely for informational purposes. Stable does not solicit, influence, or recommend any action based on such information. Similarly, Stable does not provide any consultation on the convenience of conducting operations of any kind with Stable Dollars or other intangible rights or assets.
Accordingly, those who use the Application for buying and selling Stable Dollars, by doing so, explicitly understand and accept that Stable does not intend to provide any investment advice.
XVI. ACCESS TO THE CLIENT'S GEOGRAPHIC LOCATION
The Client has full rights and control to determine whether they wish to share their geographic location with Stable through the Application. This feature is enabled for Android and iOS devices to personalize and enhance each Client's experiences and gather the necessary information to provide Stable's services appropriately. However, the Client can enable or disable this feature at any time.
When using the Application for the first time, the Client's explicit consent will be requested to access their geographic location. The Client may provide this initial consent and later revoke it through the Application's privacy settings. This revocation may affect the provision of services.
Revoking consent to share geographic location will adversely impact the Client's ability to use other aspects and features of the Application. The Client will not have access to all functionalities and services available in the Application unless they choose to share their geographic location.
Stable is committed to respecting the Client's privacy and preferences regarding location usage. The collection and processing of location data will comply with the Application's privacy policy and applicable data protection laws.
XVII. STABLE'S INTELLECTUAL PROPERTY
The Application, including but not limited to texts, data, articles, designs, logos, trademarks, forms, documents, graphics, photos, images, general content, its organization and compilation, source codes, software, artificial intelligence, know-how, among others, and any other information contained in the Application, is the property of Stable and is protected by intellectual property laws and international treaties in force in Colombia and the United States regarding this matter.
Stable, its trade names, or distinctive signs appearing in the Application are the property of Stable. Clients acknowledge, declare, and accept that using the Application and the Services provided by it does not grant them any rights over the distinctive signs or the Application.
XVIII. ACCOUNT CANCELLATION AND SUSPENSION
Any Client can terminate their relationship with Stable at any time through the channels enabled for this purpose by Stable in the Application. Once the Client's account is deleted, Stable will delete all their information from the databases, provided there is no legal or contractual obligation to maintain such information. If there is any balance in their favor, Stable will allow the withdrawal of funds to an external account from Stable App.
Similarly, Stable may limit, suspend, freeze, or delete Clients' accounts without prior notice, as well as access to some or all Services, when at Stable's discretion, the Client has violated the Terms and Conditions of Service. Stable also reserves the right to suspend and/or cancel an account in the Application in the following cases:
19.1 When there are inconsistencies in the Personal Data provided by the Client during account registration;
19.2 When, at Stable's discretion, the Client acts as an intermediary, participant, or beneficiary of multi-level or pyramid schemes through Stable App.
19.3 Upon request from a government authority.
19.4 In case of detecting suspicious activities related to money laundering and/or terrorist financing;
19.5 Upon refusal to provide information required by Stable for compliance associated with obligations on money laundering prevention and terrorist financing;
19.6 When activities against applicable legislation are detected, and
19.7 Any other cause determined by Stable.
If a Client's account is suspended, they will not be able to access Stable Dollars during the suspension period, which will be notified to the registered email address. The suspension term will be reasonably evaluated by Stable and will depend on the severity and recurrence of violations.
A Client who violates applicable laws—especially related to terrorism financing or money laundering—will have their account canceled as a sanction. As a result, the Client will not be able to re-register on the Application or use the Services. The funds in a canceled account's Wallet will be reported and allocated to the competent authority to take necessary actions. Stable will make the canceled account available to competent authorities to determine the origin of the funds and potentially return resources to the Client.
If the Client believes their account was suspended or canceled unjustly, they must submit their reasons and supporting evidence through Stable's contact channels. Stable will have the legally established period (fifteen (15) business days) to respond to the request, resolving whether the account's cancellation or suspension was justified or not. If unjustified, the Client acknowledges that no compensation will be granted.
XIX. PROHIBITED ECONOMIC ACTIVITIES
Stable will not allow Clients engaged in the following economic activities under any circumstances:
19.1. Manufacture and/or commercialization of firearms, explosives, ammunition, and/or related materials.
19.2. Manufacture and/or commercialization of narcotics and drugs.
19.3. Commercialization of pornography-related content.
19.4. Prostitution and/or related services.
19.5. Any other illegal activity according to local legislation.
XX. RISKS OF OPERATIONS WITH DIGITAL RIGHTS
Anyone using the Services, by doing so, freely, autonomously, and voluntarily chooses to engage in operations that involve the inherent risks of activities carried out with digital rights through technological platforms.
Stable, in developing activities related to the Services, has implemented processes and procedures aimed at ensuring maximum security for Service Clients. However, this does not imply that the Services are free from the various risks associated with operations involving digital rights with characteristics similar to those subject to the Services, including, but not limited to, technological failures and any type of actions and/or elements used to commit cybercrimes.
Stable guarantees the Client that, unless they use their Stable Dollars to acquire products or services, they will always have access to the Stable Dollars they have acquired, regardless of changes in the Representative Market Rate. Likewise, the Client understands and acknowledges that the value of the currency represented in Stable Dollars can be volatile, and Stable is not and will not be responsible or liable for losses incurred due to market currency fluctuations.
Consequently, Stable does not offer financial services or conduct activities requiring authorization for operation as financial entities.
XXI. TAXES
The Client is solely responsible for paying all taxes, fees, contributions, and duties applicable to activities arising from the Services unless expressly attributable to Stable by law. Accordingly, anyone using the Services is solely responsible for reporting transactions made through the Services to tax authorities as required by applicable law. Stable may provide relevant information to competent authorities as per the applicable legislation.
Stable does not provide tax advice. Clients are solely responsible for determining the tax implications of using the Services.
XXII. HIGH-RISK JURISDICTIONS
The Client, along with their representatives, administrators, and shareholders, declares that they do not reside in countries or territories considered high-risk jurisdictions as per the criteria established by competent authorities, the Financial Action Task Force, and Stable's internal policies. Clients will only access the Services from countries and jurisdictions other than those listed.
If connections are made from any of the aforementioned countries or jurisdictions by any means, Stable reserves the right to suspend and/or cancel the Client's account.
XXIII. INVOICE STANDARDIZATION
For the purposes of electronic invoicing established in Colombia, the reporting of operations carried out monthly by the Client will be considered its equivalent. Each support document issued and recorded by Stable in the Application will be automatically registered so that they can be consulted and used in real-time and immediately by the Client as needed.
XXIV. DISCLAIMER OF LIABILITY
Clients understand and accept that Stable has no involvement in the transactions, purchases, or withdrawals that the Client autonomously decides to carry out in different Commercial Establishments, nor is it responsible for the insolvency of the bank, financial institution, or agent used for acquiring Stable Dollars. Stable is solely limited to offering a service to the Client—through artificial intelligence—so that their resources are reflected in another unit of measure, such as Stable Dollars.
In any case, Clients will hold Stable, its shareholders, and its personnel, direct or indirect, harmless from claims, lawsuits, damages, and other losses (actual or consequential) of any kind or nature, known or unknown, suspected or not, disclosed or not, resulting in any way arising from a conflict between Clients and/or third parties and Stable.
Clients acknowledge that Stable reserves, can, and has the right to interrupt or impose all the limits it deems appropriate, with notification, and consequently, acknowledge that Stable will not be responsible in case it decides not to provide the Service due to inconsistencies in the documents and information provided. Stable reserves the right of admission and continued presence of Clients in the Application and the authority to decide whether or not to provide the Services exclusively offered in the Application.
Under no circumstances will the collaborators, employees, shareholders, directors, and legal representatives of Stable be responsible for any damage, actual or consequential, caused to Clients derived from errors, omissions, interruptions, defects, delays, or inaccuracies in information, responses, transmission, computer viruses, system failures, and other problems that occur in the Application.
XXV. RESOLUTION OF PQRS AND CUSTOMER SERVICE
Stable Colombia S.A.S. will be responsible for providing clear, sufficient, and timely solutions to all petitions, complaints, claims, and suggestions submitted by its Clients. To this end, the company will have suitable mechanisms for receiving PQRS and will comply with the terms established in Law 1755 of 2015.
Similarly, Stable Colombia S.A.S. will be the company responsible for creating customer service channels so that Clients can request help regarding their products, platform, website, app, and more.
XXVI. APPLICABLE LAW AND JURISDICTION
The applicable law and jurisdiction for the Services offered by Stable will be those of the Republic of Colombia. Matters not regulated in the Terms and Conditions of Service herein will be supplemented or replaced by current legal provisions governing the subject matter of the dispute.
XXVII. SEVERABILITY
If it is determined that any provision of these Terms and Conditions of Service is illegal, void, or unenforceable, such provision will be enforceable to the maximum extent permitted by applicable law, and the unenforceable part will be deemed severable from these Terms and Conditions of Service. Such determination will not affect the validity and enforceability of any other remaining provisions.
XXVIII. CONTACT
Communications that the Client must or wishes to direct to Stable will be made via email addressed to the relevant area. Stable's contact details are:
28.1. Technical support: clientes@stable-app.com
28.2. Customer Service: (+57) 323-801-6000
Communications that Stable must or wishes to direct to the Client will be made via email sent to the address registered by the Client.
XXIX. FINAL STATEMENT
At this time and by this document, Clients acknowledge having read and understood the full content of the Terms and Conditions of Service and, having accepted the provision of Services, expressly, unequivocally, and irrevocably accept their content and the obligations stated herein.
The electronic document in which the Terms and Conditions of Service are formalized will be stored in Stable's Database. If the Client needs to identify and correct errors in submission or in their data, they may contact Stable through the means indicated in this document.
The Client expressly declares to have the legal capacity to use the Application and to enter into sales contracts that may be generated through Stable Dollars in different Commercial Establishments. They also declare to have provided real, truthful, and reliable information.
Therefore, they expressly and unequivocally declare that they have read, understood, and consented to all the assumptions outlined and regulated in the Terms and Conditions of the Stable Application and that Stable is not considered a bank, thereby committing to fully comply with the duties, obligations, actions, and omissions stated herein.
In case Clients from other countries use the Application, they consent to fully comply with the provisions of the Terms and Conditions of the Application and applicable laws.
Effective from September 15, 2023
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