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Please read these Terms of Service carefully as they contain important information about your legal rights, remedies and obligations. By accessing or using the Lolaguide Platform, you agree to comply with and be bound by these Terms of Service.
Thank you for using Lolaguide!
Last updated: December 19, 2018
These Terms of Service ("Terms") constitute a legally binding agreement ("Agreement") between you and Lolaguide (as defined below) governing your access to and use of the Lolaguide website, including any subdomains thereof, and any other websites through which Lolaguide makes its services available (collectively, "Site"), our mobile, tablet and other smart device applications, and application program interfaces (collectively, "Application") and all associated services (collectively, "Lolaguide Services").
When these Terms mention “Lolaguide,” “we,” “us,” or “our,” it refers to LOLAGUIDE INTERNET INC, Registration No. 759385917BC0001, with its registered office at 425 CARRALL ST #90, VANCOUVER, BC V6B 6E3 – CANADA, the entity in which you are contracting with.
Please consider this document carefully when deciding whether to use LOLAGUIDE’s Services. Please be advised: This Agreement contains provisions that govern how any disputes between the parties hereto shall be resolved.
Agreement: means this Merchant Agreement and all Schedules hereto;
Applicable Legislation: means all applicable legislation, regulations and any and all directives and/or guidelines of any applicable regulatory or governmental authority relating (as applicable to the context) to each Party’s obligations under and/or pursuant to this Agreement or the business activities performed by the parties;
Chargeback: means when the Customer claims to his acquirer that the products and/or services were not received and therefore demands to be refunded for the payment or have the respective transaction cancelled and not charged from the Customer.
Chargeback Fee: means the amount to be charged per Chargeback.
Confirmed Payment: means the transaction is confirmed and its respective funds will become available to LOLAGUIDE according to the fund’s availability time for the payment method used to process the transaction.
Customer: means a person situated in the Territory described in Clause 1.1 that makes purchases from you through LOLAGUIDE Payment Methods;
Customer Data: means the personal data collected from the Customers by you for KYC (Know Your Customer), AML (Anti-Money Laundering) and FX (Foreign Exchange) policies and purposes; Customer ID: means the personal information used by LOLAGUIDE on its systems to identify each customer using LOLAGUIDE Payment Methods.
LOLAGUIDE Group: means the companies that are part of the same economic group responsible for providing the services described in this Agreement;
LOLAGUIDE Payment Methods: means the payment methods used by LOLAGUIDE or through a third-party contractor to you to provide the payment processing services that constitute the scope of this agreement.
LOLAGUIDE Services: means any services provided by a Company within LOLAGUIDE Group.
Fee per transaction: means the amount to be charged per transaction processed on behalf of you by LOLAGUIDE.
FX Conversion Rate: means the Conversion Rate for Canadian Dollars (CAD) or American Dollars (USD) from the Territory’s Currency provided by the Processor's Banks.
Monthly Limit: means the limit per Customer ID to which the Customer is entitled to spend per month using LOLAGUIDE Payment Methods. This limit does not apply solely to the transactions processed on your behalf.
Net Transaction Value: means the sum of the Authorized Transactions minus the applicable Service Fee;
Payment Processing Service: means the services to be provided by LOLAGUIDE pursuant to this Agreement under which LOLAGUIDE processes transactions on your behalf;
Rate per Transaction: means the percentage rate to be calculated over the transaction amount;
Refund: means returns, reversals or adjustments due to Transactions pursuant to Payment Network Rules or Applicable Legislations where the Customer is refunded with the value of all or part of the amount of a Transaction.
Refund Fee: means the amount to be charged per Refund.
Territory: means the Countries where the LOLAGUIDE shall provide its Payment Processing Services, as described in Clause 1.1 subject to LOLAGUIDE policies;
Transaction: means the monetary consideration given by the Customer when purchasing a product or service offered by you using LOLAGUIDE Payment Methods.
1.1 LOLAGUIDE is a Value Added Payment Service Provider. LOLAGUIDE facilitates online payments from customers to your business. LOLAGUIDE Payment Methods shall only be used for commercialization of products or services, and under no circumstances, shall be used for money remittance purposes.
1.2 Intellectual Property. "LOLAGUIDE.com", "LOLAGUIDE", and all logos related to LOLAGUIDE’s Services are either trademarks or registered trademarks of LOLAGUIDE or LOLAGUIDE's licensors. You shall undertake to use LOLAGUIDE logo in accordance with our requirements and we shall have the right to restrict its usage.
1.3 Assignment. The rights and obligations hereunder apply for the specific use related to the products and services commercialized on the websites listed on SCHEDULE A. You may not transfer or assign any rights or obligations you have under this Agreement without LOLAGUIDE's prior written consent. To add or exclude a website, product or service to be commercialized using LOLAGUIDE Payment Methods you shall request LOLAGUIDE’S consent. LOLAGUIDE reserves the right to transfer or assign this Agreement or any right or obligation hereunder at any time to a company within LOLAGUIDE Group.
1.4 Password Security and Keeping Your Email and Address Updated. You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access LOLAGUIDE’s Services. Moreover, you are responsible for making sure all information shared with LOLAGUIDE is accurate and updated.
1.5 Contact information. We provide you with technical support by email (firstname.lastname@example.org) 7 days a week and/or from 9am to 5pm Monday to Friday.
1.5.1 In addition, you hereby agree that any official notification to us shall be sent to our email email@example.com and shall only be deemed valid upon receipt confirmation.
1.5.2. You hereby agree that any official notification from us shall be sent to your email
2.1 Identity Authentication. You hereby authorize LOLAGUIDE to, directly or through third parties, make any necessary inquiries to validate your identity pursuant to local laws and compliance directives. This may include requesting you further information, requiring you to provide your date of birth, a taxpayer identification number or any other information that will allow LOLAGUIDE to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit check report, or verifying your Information against third-party databases or through other sources. We may also request to check your driver’s license or any other identification documents at any time. LOLAGUIDE reserves the right to close, suspend, or limit access to your Account and/or LOLAGUIDE’s Services in the event we are unable to obtain or verify the Information within 72 hours after such information is requested from you.
3.1 Risk of Reversals, Chargebacks and Claims. When you receive a payment, you are liable to LOLAGUIDE for the full amount of the payment sent to you plus any Fees if the payment is later invalidated for any reason. This means that, in addition to any other liability, you will be responsible for the amount of the payment sent by the sender plus the applicable Fees listed in Section 6 (Fees) of this Agreement in case you lose a Claim or a Chargeback or if there is a Reversal of the payment. You hereby undertake to allow LOLAGUIDE to recover any amounts due to LOLAGUIDE by means of debit from your Balance. If there are insufficient funds in your Balance to cover your liability, you hereby agree to reimburse LOLAGUIDE through other means. If a payee files a card Chargeback, the card issuer, not LOLAGUIDE, shall determine who wins the Chargeback.
3.3 Taxes. Processor shall be responsible for the collection of the applicable taxes that may be levied by the authorities in the Argentinian and Brazilian Territory (see 3.9.1 and 3.9.2). Such taxes will be charged at the moment of the Transaction from the Customer and paid to the authority by the Processor. Therefore, the collection, payment, remittance and liability associated with such taxes shall be borne by the Processor. However, it’s the Merchant’s responsibility to inform its Customers that taxes may apply to their Transactions, not limited to the following taxes:
3.3.1 Argentine Territory. The Argentine authorities may charge VAT (value-added tax) over transactions from purchases of digital services. The Customer’s obligation to pay will be determined by the listing of taxable digital service providers set by the Argentinian authorities. Meaning, if your entity is or becomes listed by the authorities as a taxable digital service provider, your Customer in this Territory will have the obligation to pay VAT over the purchase amount, which will be added to the total amount of the Transaction by the Processor.
3.3.2. Brazilian Territory. The applicable tax to all Transactions processed in Brazil involving LOLAGUIDE Payment Processing Services is the IOF (Taxes over Financial Operations for foreign exchange transactions).
3.4. The Processor responsibility to collect taxes resumes to the IOF in Brazil and VAT in Argentina. Any other taxes that may be levied for the sale of goods or services are not the Processor’s responsibility, and it’s the Merchant duty to inform its Customers that other taxes may apply to their Transaction.
4.1. Reserve. LOLAGUIDE at its sole discretion, may place a Reserve on funds held in your Business Account when LOLAGUIDE believes there may be a high level of risk associated with your Account, regarding high rates of chargebacks, refunds, customer complaints, negative media, and associated reputational risk. If LOLAGUIDE places a Reserve on funds in your Account, they will be displayed as "pending" in your Balance and LOLAGUIDE may hold your funds for up to 180 days in order to verify any possible liability, in case any liability is suffered by LOLAGUIDE on your behalf we may deduct the liability amount from your Reserve, as stated on clause 7.1. If your Account is subject to a Reserve, LOLAGUIDE will send you a previous notification specifying terms thereof. LOLAGUIDE may change the terms of the Reserve at any time by sending you a notification of the new terms.
5.1 Tiered Pricing – Payment Processing Fee. LOLAGUIDE works with tiered pricing based on total payment volume, which is not limited to any particular market. The tiered pricing is based on a Calendar month, and the new fee rate will be applied from the first day of the month subsequent to the one in which the volume for the new Tier is reached. Therefore, the fee rate will be applied every month according to the previous month volume of processed payments. These provisions are not applicable for installments.
Volume Processed per Month (USD) Rate per confirmed payment
Up to 25,000 10 %
From 25,000 to 150,000 9.5 %
From 150,000 to 250,000 9 %
From 250,000 to 500,000 8.5 %
More than 500,000 Over negotiation
5.2 Chargeback Fees. There shall be a $20.00 USD Chargeback Fee for every chargeback deducted from the Merchant’s Settlement requests.
5.3 Refund Fees. There shall be a $2.00 USD Refund Fee for each Refund paid on your behalf by LOLAGUIDE to your Customers.
5.4 Settlement Fees. The Merchant has one settlement exempt of settlement fee per month, with the first free settlement only available after 30 days from the first real payment processed. Any settlement requested within 30 days before or after the settlement exempt of settlement fee - with its amount equal to or less than $20,000 USD, shall be charged $100.00 USD per settlement and such amount shall be deducted from the respective settlement in course.
5.5 Payments in Installments Fee. If you offer payments in installments, the fee for the installment payments will be different. Payments in installments are only available in Argentina, Brazil and Mexico and we will charge the fee just once per payment, the fee shall change in accordance with the number of installments. Moreover, the fees regarding settlement advances are subject to bank loan interest rates, therefore established by the market and dependent on it. Consequently, the settlement advance fee (and hence the total amount) may change, in which case the customer will see it by the time of the purchase. We are not chargeable for this circumstance.
The fees for Payments in Installments are:
Number of Installments Rate to be added to the tiered pricing
6.1 Transactions using LOLAGUIDE Payment Methods have their funds available and will be transferred to you within the first 15 business days of every following month.
6.1.1 Individual transactions that exceed USD 3,000 may take additional 7 days to be available and transferred.
6.2 You hereby acknowledge that your bank account shall be owned by the entity entering into this agreement, on a Financial Institution in a country other than the ones in which LOLAGUIDE Payment Methods are being offered, otherwise, you shall not be able to receive your settlements. Furthermore, you acknowledge that it is your responsibility to inform us if there are any changes to your Bank Account Information and, in this case, we may have 2 (two) business days to review your bank account information.
6.2.2 All Settlements shall be made to your Bank Account by bank wire transfer in Canadian Dollars or United States Dollars, according to your choice in your Account Profile.
7.1 Your Liability.
General. You are responsible for all Refunds, Chargebacks, Claims, fees, fines, penalties and other liabilities incurred by LOLAGUIDE, a User, or a third party, that is caused by or arising out of your breach of this Agreement, and/or your use of the LOLAGUIDE’s Services. You undertake to reimburse LOLAGUIDE, a User, or a third party for any and all such liabilities. Additionally, we can withhold funds from your balance at any time to provide for these liabilities as stated on clause 4.2.
Payments on Demand. LOLAGUIDE Payment Methods shall only be used for commercialization of products or services, and under no circumstances, shall it be used for money remittance purposes. You are responsible for the products and services commercialized using LOLAGUIDE Payment Methods. Therefore, you shall be responsible for any liability arising out of such commercialization. Furthermore, you hereby represent that all products and services commercialized using LOLAGUIDE Payment Methods will be in accordance with applicable legislation and our compliance policy. Furthermore, you represent to understand that in no event shall our payment methods be used for illegal purposes, and a breach of this provision may be cause for a criminal complaint and will be handled by the competent authorities.
7.2 Reimbursement for Your Liability. In the event that you are liable for any amounts owed to LOLAGUIDE due to actions relating to your business activities with us, LOLAGUIDE may immediately deduct such amounts from your future payments. If your Balance is insufficient to pay your liability off, your remaining Balance (if any) will be withdrawn, and your Account will have negative Balance to cover the full and/or outstanding amount of your liability, and you will be required to immediately add funds to your Account in order to settle the negative Balance. If you do not do so, LOLAGUIDE may engage in collection efforts to recover such amounts from you.
7.3 Restricted Activities. If LOLAGUIDE, at its sole discretion, believes that you may have engaged in any Restricted Activities, we may take various actions to protect LOLAGUIDE, other Users and third parties, from Reversals, Chargebacks, Claims, fees, fines, penalties and any other liabilities. The list of Restricted Activities is specified in our Compliance page at https://lolaguide.com/compliance and may change at any time at LOLAGUIDE’s discretion.
7.3.1 You are not entitled to, in no case nor under any excuse, sell products that are prohibited by the Health Surveillance authorities, or any other authority, in the Territory where LOLAGUIDE will provide you with our payment methods. You can ask us at any time to confirm which substances or products are prohibited or not. In case you are not in compliance with this provision, LOLAGUIDE reserves the right to terminate this Agreement immediately. Any such situations shall entail that you are solely responsible for fully reimbursing the customer, and also for bearing any costs that LOLAGUIDE might incur as a result of this situation.
7.3.2 If any product you sell using our payment methods gets confiscated by the authorities, you acknowledge that you sold that product at your own discretion and, therefore, neither the customer nor LOLAGUIDE shall be punished for it. Moreover, we may refund the customer in these cases, and deduct the amount from your next settlement.
7.4 Account Closure, Termination of Service, Limited Account Access; Confidential Criteria. If we close your Account or terminate your use of LOLAGUIDE’s Services for any reason, we will notify you of our actions. Further, you represent to acknowledge that LOLAGUIDE’s decision to take certain actions, including limiting access to your Account by placing holds or imposing Reserves, may be based on confidential criteria that are essential to our management of risks and to the security of the Users’ Accounts and the LOLAGUIDE’s system itself. You hereby agree that LOLAGUIDE has no obligation to disclose the details of its risk management policies or security procedures to you.
8.1 You must have and maintain in place, throughout the Term of this Agreement, adequate policies and procedures to prevent abuses, enforcing said procedures in order to avoid that such events might affect LOLAGUIDE and our business.
8.2 You hereby agree that your website payment transaction will be screened by our antifraud systems. Moreover, you understand, that our anti fraud system cannot guarantee the prevention of all frauds and chargebacks, but it will reduce the incidence of such events. Consequently, you hereby agree that we may not be held liable for any fraud or chargeback that may occur.
8.3 LOLAGUIDE may inquire about your due diligence, and request documents related to your relationship with third parties involved in the product or service you provide, such as, but not limited to, your suppliers, etc. Therefore, you hereby agree to provide any documents that may be requested within 72 hours.
8.4 You are exclusively responsible, at all times, for marketing and providing the LOLAGUIDE Payment Methods in compliance with applicable laws and regulations, LOLAGUIDE’s policies, as well as with our restricted and prohibited list. Consequently, prior to activating any new payment method to your business, LOLAGUIDE shall approve the activation of said method.
8.5 The failure to comply with the items of this clause is cause for immediate termination of this
9.1 Dispute Resolution. In the event of any dispute arising out of or relating to the performance, enforcement, breach, or termination of this Agreement, the parties shall first use their best efforts to resolve such matters by negotiation. If the parties do not settle their differences within a period of fifteen (15) days from the date either party gives notice that a dispute exists, the dispute shall be finally settled by jurisdiction of British Columbia, Canada.
9.2 Applicable Law. You hereby agree that, except to the extent it is inconsistent with or preempted by any other applicable law, the laws of Canada shall govern this User Agreement and any claim or dispute that has arisen or may arise between you and LOLAGUIDE.
9.3 No Waiver. Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches.
9.4 Indemnification. You agree to defend, indemnify and hold harmless LOLAGUIDE, our parent company and Affiliates, and the officers, directors, agents, joint venture partners, employees and suppliers of LOLAGUIDE, our parent company and Affiliates, harmless from any claim or action (including attorneys’ fees) brought or incurred by any third party due to or arising out of your breach of this Agreement, your improper use of LOLAGUIDE’s Services and/or your violation of any laws or the rights of a third party.
10.1 This Agreement shall commence on the date hereof and continue for an initial period of twenty-four (24) months with automatic renewal for another period of twenty-four (24) months thereafter.
10.2 In addition to any rights of termination: (i) any Party may terminate this Agreement at any time without cause upon a 15 (fifteen) calendar days’ prior written notice sent to the other party’s email (our email is firstname.lastname@example.org) with the respective receipt confirmation; and (ii) either Party may terminate this Agreement immediately should the other Party breach a material provision of this Agreement and, as stated in clause 9.4, the failure to comply with applicable laws, LOLAGUIDE’s policies, or with our restricted and prohibited list is cause for immediate termination.
10.3 If we believe you are acting illegally or not in compliance with the requirements set out herein, we shall, at our own discretion, be entitled to suspend or disconnect the LOLAGUIDE Payment Methods from your website or your access to payment on demand in your Merchant Area until you prove to our satisfaction that you are compliant with our agreement.
10.4 We may terminate this agreement with immediate effect pursuant to any credit card schemes’, acquirers’, issuers’ or regulatory demand, requirement or directive, within the Territory, for the cessation of the payment processing services for all or part of the products or services sold by you. In the event of receipt of such communication, we shall immediately notify you of such demand, requirement or directive.
11.1 Limitations of Liability. To the extent permitted by law, we, our parent company and affiliates, and the officers, directors, agents, joint venture partners, employees and suppliers of LOLAGUIDE, our parent or our Affiliates shall not be liable for lost profits or any special, incidental or consequential damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with our website, LOLAGUIDE’s services, or this agreement. Our liability, and the liability of our parent company and affiliates, and ours and their respective officers, directors, agents, joint venture partners, employees and suppliers, to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, LOLAGUIDE, our parent company, and affiliates, and ours and their respective officers, directors, agents, joint venture partners, employees, and suppliers are not liable, and you hereby agree not to hold these parties liable, for any damages or losses (including, without limitation, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from: (1) your use of or your inability to use LOLAGUIDE’s sites and services; (2) viruses or other malicious software; (3) the content, actions, or inactions of third parties; (4) a suspension or other action taken with respect to your account; (5) any fraud or chargeback that is not prevented by our anti fraud system (6) your need to modify practices, content, or behavior, or your loss of or failure to do business, as a result of changes to this user agreement or LOLAGUIDE’s policies.
11.2 Force Majeure. If any event beyond our control such as natural disaster, war, strike, embargo, among others, prevents us from performing our obligations hereunder, we shall immediately notify you, so we can reach an agreement over how to resume the provision of our services.
11.3 Confidentiality Clause. Every information and all communications exchanged between us is deemed confidential. Therefore, the breach of our confidentiality is a breach of our contract.
11.4 Amendment. Any change hereto shall only be valid and effective if in writing upon agreement by both parties.
11.5 Permission to use copyrighted material. You, hereby, grant LOLAGUIDE the right to use and display your logo and name on LOLAGUIDE’s website, films, multimedia presentations, public events, catalogs, trademarks, logotypes, designs, especially in any material used to sell and promote LOLAGUIDE’s services. Moreover, your logo and name can be explicitly used on LOLAGUIDE’s website to show that we process your payments in Latin America, with the single purpose of promoting LOLAGUIDE’s services.
11.6 Customer Data Usage. You hereby acknowledge and allow LOLAGUIDE to use your customer’s data for marketing actions on your behalf or for LOLAGUIDE.
Your continued use of the Services imply your acceptance of these terms.
If you have any questions about these terms contact us at email@example.com
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