TERMS AND
CONDITIONS LITTIO
1. General aspects
The present terms and conditions (the “T&C”) will apply to the use, access, and other activities related to the mobile applications, products, software, websites, APIs, and other services (together, the “Services”) offered and/or made available by Selenio S.A.S., a company incorporated and existing under the laws of the Republic of Colombia, with its main office in Bogotá D.C. and identified with NIT 901.551.748-2 and its affiliated entities (“Littio”), and, if applicable, other service providers available in our Services or through them.
2. Acceptance
By linking, registering, and/or using the Services, you do so at your own risk and, therefore, fully and unreservedly accept the content of these T&C. Likewise, by linking, registering, and/or using the Services, you expressly and unequivocally authorize Littio to process your personal data in accordance with our Policy of Treatment as outlined in this Authorization.
Littio reserves, in every sense, the right to update and modify these T&C at any time and in any manner, unilaterally and without prior notice, as well as the features and functionalities of the Services. If you do not agree with the modifications to the terms of the T&C or the Services, you must cease your use immediately and inform Littio so that your corresponding disconnection can be carried out.
It is the responsibility of the users of the Services to periodically review the T&C and other publications and communications made by Littio.
3. Linkage
For the purposes of linking to the services, the following will be taken into account:
a) To make use of the Services, a user account must be created.
b) For legal and regulatory reasons, it is necessary to confirm the identity of the user before they can make use of the Services. To this end, personal information will be requested (including, but not limited to, name, address, identity documents, or financial information).
c) As a consequence of our internal policies, we will conduct verification questions to the user or investigations or verifications through public and/or third-party databases in order to verify that the necessary requirements for the use of the Services are met. This will include all information we consider necessary related to their identity and creditworthiness.
d) In the event that the respective user is created on behalf of a legal entity, the individual creating the respective user will be confirming that they are a representative/agent of that entity and that they are authorized to enter into the respective legal relationship on its behalf. In these cases, information regarding the ultimate beneficiaries of the respective legal entity must be provided, and Littio will conduct, either directly or through third parties, verification questions or investigations or verifications through public and/or third-party databases in order to verify that the necessary requirements for the use of the Services are met. This will encompass all information we consider necessary related to the identity and creditworthiness of the respective beneficial owner and the legal entity.
e) In any case, when required, written authorizations and instructions must be provided to request additional information and/or credit reports from third parties regarding the person who opens the user account for the Services. Littio will also request such documentation and/or reports when new products are requested or when we have a reasonable suspicion that there is a high level of risk associated with the respective account.
f) Once the corresponding information has been verified, to the full satisfaction of Littio, the user account for the Services will be activated and this will be communicated to the corresponding user.
4. Representations and warranties
By requesting the opening of a user account for the Services, the interested party, solely by doing so, will be declaring, guaranteeing, and consenting that the following statements are and will remain true for as long as the corresponding legal relationship with Littio lasts:
a) All information submitted will be true and accurate and the user commits to keep it that way at all times, as well as to update it when it changes and/or when requested by Littio.
b) That they have the necessary powers and authorizations to establish a legal relationship arising from the use of the Services and, consequently, have the sufficient legal capacity to bind themselves legally to all that is stated in these T&C.
c) That the holder of the user account for the Services, as well as their representatives, administrators, and shareholders do not reside in countries or territories considered as high-risk countries and jurisdictions according to the criteria established at each moment by the competent authorities in the Republic of Colombia, by the Financial Action Task Force, and/or by the internal policies of Littio, and therefore, the account holder will only access the Services from countries and jurisdictions other than those previously mentioned.
d) The use of the services will comply, at all times, with applicable legal and regulatory provisions.
e) That the holder of the user account for the Services, as well as their representatives, administrators, and shareholders, are not involved and/or related, directly or indirectly, with illegal activities, unlawful activities, or those that may be considered risky according to the criteria established at each moment by the competent authorities in the Republic of Colombia, by the Financial Action Task Force, and/or by the internal policies of Littio.
f) That the holder of the user account for the Services, as well as their representatives, administrators, and shareholders, are not linked to legal proceedings and/or judicial investigations and/or restrictive lists related to money laundering, terrorist financing, the proliferation of weapons of mass destruction, child prostitution, acts of corruption, transnational bribery and other illegal and/or unlawful activities. Likewise, that the holder of the user account for the Services, as well as their representatives, administrators, and shareholders, are not related, directly or indirectly, to individuals involved in legal proceedings and/or judicial investigations and/or restrictive lists related to money laundering, terrorist financing, the proliferation of weapons of mass destruction, child prostitution, acts of corruption, transnational bribery, and other illegal and/or unlawful activities.
g) That the holder of the user account for the Services, as well as their representatives, administrators, and shareholders will take all necessary measures to prevent them, their agents, and employees from using or paying any sums of money, or giving or delivering gifts, for unlawful and/or inappropriate purposes such as bribery, incentives, or inducements in order to secure undue benefits in favor or on behalf of Littio and/or its affiliated companies, nor will they engage in any conduct that may be considered an act of corruption or transnational bribery.
h) That the holder of the user account for the Services, as well as their representatives, administrators, and shareholders are not related in any way to the activities listed below, nor are their funds or resources linked to or derived from them:
a. Sexual services - Includes, but is not limited to, pornography, prostitution, sale of sexual accessories, escort agencies, etc.
b. Auction services - Means online auction services and pawn shops.
c. Controlled substances and drug paraphernalia - Includes, but is not limited to, activities related to the manufacture, marketing, or any other type of management related directly or indirectly to narcotics, prescription drugs, steroids, or related paraphernalia or accessories, unless authorized by the jurisdiction in which the activity is carried out and has the corresponding license, when applicable. Likewise, includes, but is not limited to activities related to equipment or material that is used to make, use, or conceal illegal drugs.
d. Cyber blocking services - Includes, but is not limited to, activities related to the marketing or any type of management related to devices that are designed to block or interfere, without authorization, with cellular and personal communication services, official authority radars, global positioning systems, and wireless network services.
e. Gambling services - Includes, but is not limited to, sports betting, casino games, horse racing, dog racing, games that can be classified as gambling, betting brokers, lotteries, bingo, online gambling or other activities that facilitate any of the above, unless authorized by the jurisdiction in which the activity is carried out and has the corresponding license, when applicable.
f. Illegal activities - Businesses or transactions that may be related to any form of illegal activity, including, among others, money laundering, terrorist financing, trafficking in persons, or political corruption or transnational bribery.
g. Activities that infringe intellectual property - Includes, but is not limited to, activities related to the manufacture, marketing, or any other type of management related directly or indirectly to goods or services that infringe or violate any copyright, trademark, or property rights under the laws of any jurisdiction. This includes the sale of counterfeit items and unauthorized replicas or copies of items, and applies to both physical and virtual items.
h. Precious metals and jewelry - Sale or trade of precious metals (coins, bars, etc.), gemstones, and fine jewelry.
i. Multilevel schemes - Pyramid and Ponzi schemes, multi-level marketing programs, wealth creation programs, pay-per-click schemes, and other similar programs that are not traditional and legitimate businesses.
j. Ransomware - Ransomware services, including illegitimate responses to cyber incidents and illegitimate responses to data breaches.
k. Fake banks and financial institutions (e.g., shell banks) - Banks or other financial institutions registered in a jurisdiction where they have no physical presence.
l. Unlicensed financial or monetary service companies - Any financial and monetary services business that does not have a license in the jurisdiction in which it operates, unless a license is not required by the respective jurisdiction for the development of such activities.
m. Weapons - Includes, but is not limited to, activities related to the manufacture, marketing, or any other type of management related directly or indirectly to manufacturing, building, or assembling weapons of any kind, including, among others, firearms, ammunition, explosives, or related accessories.
i) The Services will not be used to carry out any activity related to the activities referenced in the previous section.
j) Access to the Services will not be made through automated means of any nature without the prior express consent of Littio.
k) The holder of the user account for the Services will comply at all times with the applicable legal provisions and with what is established in these T&C.
l) The holder of the user account for the Services will timely inform Littio of their obligation to issue electronic invoices in accordance with Colombian legislation, committing, for this purpose, to provide the documentation that may be required in this context, as well as to issue the corresponding electronic invoices when required by applicable legislation.
m) The sole responsibility of the holder of the user account for the Services is to manage and safeguard the suitability and veracity of the information provided through the Services, as well as to maintain custody of the user and access key associated with the corresponding account. In any case, it will be understood that any access and/or use of the Services using the user and access key associated with the user account for the Services is carried out by the holder of this account.
n) They will not take any action that may disable, overload, or damage the operation, provision of Services, and appearance of these, nor use the Services for purposes involved and/or related, directly or indirectly, to illegal activities, unlawful activities and/or those that may be considered risky according to the criteria established at each moment by the competent authorities in the Republic of Colombia, by the Financial Action Task Force, and/or by the internal policies of Littio.
o) That, by using the Services, they expressly and unequivocally acknowledge and accept that: (i) They are aware of the risks associated with digital asset transactions as stated in these T&C; (ii) They will assume all risks arising from the use of Littio's Services; and (iii) Littio will not be responsible for any risk or adverse outcome associated with a failure or interruption of the technology used for the operation of the Services unless it corresponds to an action or omission duly proven in a judicial setting that is directly attributable to Littio.
5. Transactions with digital assets
By registering, accessing, and using the Services, the holders of the user accounts related to the Services will be able to buy, sell, and exchange digital assets in accordance with the provisions set forth in these Terms & Conditions.
Accordingly, the holders of the user accounts related to the Services will be able to perform, among others, the following operations:
a) Buy and/or sell and/or exchange digital assets to Littio; and
b) Have Littio buy and/or sell and/or exchange digital assets on behalf of and for the account of the holder of the account associated with the Services, in accordance with the information provided at any given time through these same Services, which will be understood as the specific instructions ordered by the holder as the principal.
To carry out operations related to digital assets through the Services, the holders of the user accounts associated with the Services must verify and provide the information that is requested at any time through the Services. This information will include, without limitation (i) the amount of digital assets, (ii) the price of these or their exchange value, as applicable, (iii) the method and destination of the payment to be made to the account holder or to Littio, as applicable, and (iv) the documents required to comply with Littio's policies and fulfill legal or regulatory obligations that may arise (including, but not limited to, proof of ownership of financial products, proofs of transactions related to the Services, electronic invoices, among others).
Littio assumes no responsibility for errors made by the holder of the user account associated with the Services at the moment of providing the data that are requested at any time to carry out the operations regarding digital assets that are carried out through the Services. Therefore, the holders of user accounts related to the Services have the obligation to act with the utmost diligence when carrying out operations through the Services. Notwithstanding the above, in the event that the corresponding transactions could not be carried out due to causes directly attributable to Littio, Littio will maintain costs, fees, and commissions associated with the use of the Services that were in effect at the time of the initial transaction requested by the account holder associated with the Services that could not be carried out due to causes directly attributable to Littio.
The digital assets acquired by the holders of the user accounts through the Services will be under the custody of Littio's partners with recognized suitability, who have adequate mechanisms to ensure the security of the digital assets acquired through the Services.
The digital assets acquired by the holder of the user account that are under the custody of the previously referenced partners will be reflected on the virtual platform provided through the Services, through which the user will be able to order the corresponding buy/sell/exchange operations, in accordance with the conditions offered at any given moment on the same and, in any case, subject to the provisions set forth in these Terms & Conditions.
The costs, fees, and commissions associated with the use of the Services at any time will be provided through these and/or through the communication channels established in these Terms & Conditions and will be updated periodically in such a way that, from the corresponding update, they will be applicable to all operations carried out after such moment. The holders of user accounts related to the Services have the obligation to verify this information periodically and, in particular, with integrity regarding the execution of any operation through the Services.
Littio shall have the right, but not the obligation, to grant rewards to the holders of the user accounts of the Services who have a positive amount of digital assets. Such rewards may be recognized based on the length of time the holders have been users of the Services and calculated as determined by Littio from time to time. In any case, Littio may revoke, at any time, the reward schemes that have been implemented under the Services, being obliged only to recognize the rewards that have accrued up to that point.
In the event that the holder of the user account wishes to transfer the digital assets acquired through the Services to any digital wallet or similar product offered by a third party, they may, at any time, instruct Littio to proceed with this in accordance with the conditions provided in these Terms & Conditions, the applicable risk policies, and current regulations governing the matter through written communication addressed in accordance with the provisions set forth in these Terms & Conditions. The request will be addressed within 5 business days following the moment in which the holder of the user account provides all the information that is requested for such purpose.
In any case, by linking, registering, and/or using the Services, the holder of the user account associated with the Services declares and acknowledges that the accounts/products of the holders of the user accounts associated with the Services from and to which transactions are made as a result of the operations with digital assets carried out in connection with the Services must be owned by the respective holders of the user accounts associated with the Services. Eventually, Littio may, at its sole discretion and after verifying the entirety of the supporting documentation it considers appropriate to request in accordance with the applicable regulations and its risk policies, authorize transactions with accounts/products of holders other than those of the holders of the user accounts associated with the Services.
6. Specific mandate
By accepting these T&C, the account holder associated with the Services instructs Littio to carry out the tasks so that, on their behalf and representation, directly and/or through third parties, it performs all necessary actions to carry out the operations associated with the Services in accordance with the provisions of these T&C, which include, but are not limited to (i) receiving the funds provided by the account holder solely for the purpose of fulfilling their instructions regarding the purchase of digital assets on their behalf and for their account; (ii) buying/selling/exchanging digital assets on behalf of and for the account of the account holder at the rates provided through the Services in accordance with the provisions of these T&C; (iii) receiving, on behalf of and for the account of the account holder, the amounts derived from the sale of digital assets made following the account holder's instructions, solely for the purpose of holding them until they are transferred to the account holder in accordance with the instructions they have provided for that purpose; (vi) sending the digital assets acquired by the account holder for safekeeping by Littio's partners and proceeding to withdraw them when the account holder requests to proceed with their sale; (iii) all instructions given by the account holder through the Services in accordance with the options provided for that purpose, and (iv) all actions associated with the Services that must or may be carried out on behalf of and for the account of the account holder in accordance with the provisions of these T&C.
The mandate granted here shall be irrevocable and will terminate once the legal relationship that arises between the parties as a consequence of the acceptance of these T&C has ended.
The mandate granted here will be compensated in accordance with the corresponding costs and fees established in these T&C. In the case of buying/selling/exchanging digital assets on behalf of and for the account of the account holder, the applicable fees provided through the Services will apply, and any difference between them and the final buying/selling/exchanging price to the corresponding third party will be understood as compensation.
7. Acceptable use
The use of the Services shall be subject, at all times, to the following acceptable use conditions:
a) Any illegal or unlawful use of the Services is strictly prohibited.
b) The account holder is and will be the sole responsible for the privacy and storage of their username and password to access the Services.
c) All operations carried out from the Services or in connection with them are final and, therefore, non-refundable.
d) By using the Services, the account holder agrees that all activities that can be traced to their username and password will be considered as having been performed by them and, therefore, are legally binding for the respective user.
e) By using the Services, the account holder accepts exclusive responsibility for the operations carried out through them.
f) By using the Services, the account holder acknowledges that Littio reserves the right to exclude them from the use of these, as a consequence of a use that, in Littio's opinion, is improper or illegal.
g) By using the Services, the account holder acknowledges and agrees that they use them at their own risk. Therefore, the account holder will be solely responsible for complying with all applicable laws and regulations.
h) By using the Services, the account holder guarantees that, if requested by Littio, they must provide written proof of compliance with the commitments they have made in accordance with these T&C.
i) By using the Services, the account holder acknowledges that, in case of breach of the provisions in these T&C, Littio will have the right to suspend, limit, or immediately terminate their access to the Services and to any information contained therein.
j) By using the Services, the account holder guarantees that, in the event of a claim and/or investigation against Littio by a third party due to the user's breach of the provisions in these T&C and/or applicable law, the account holder must keep Littio harmless from all damages or losses that may have been directly or indirectly caused as a result, which will include reimbursement of all costs, losses, and damages related to such claim.
k) Only one user account for the Services may be held, managed, and/or controlled per account holder.
8. Cancellation
The holders of the user accounts associated with the Services may, at any time, request the cancellation of their account, subject to what is established in these T&C and, in any case, to what is indicated below:
a) In order to request the cancellation of the user account, the holder must not have pending obligations with Littio and must not have a positive amount of digital assets; therefore, they must take the necessary actions to this effect before proceeding with the voluntary cancellation of the account.
b) Once the cancellation of the user account has been requested, Littio will carry out the relevant validations and inform the holder whether there is a basis for the cancellation or suspension of any pending transactions, which will be duly communicated to the holder. For this purpose, the holder's digital assets may be retained until all their pending obligations are satisfied.
c) Under no circumstances will the cancellation proceed if it could reasonably be interpreted as an attempt to avoid payment of the holder's pending obligations or if their activity is being investigated.
d) In case the holder has problems or questions when cancelling their account, they should contact Littio's support service.
Under certain circumstances, Littio may terminate, suspend, or restrict in some way the accounts of holders and their use of the Services if there are suspicions of violation of these T&C or any applicable agreement or policy, when required by current legislation, or to prevent a possible loss. As a consequence of the above, by accepting these T&C, the holder of the user account associated with the Services explicitly acknowledges and accepts that Littio reserves the right to terminate, suspend, or restrict access to the account and the Services, as well as to take, at any time, other measures stipulated in these T&C to protect the holder, other users, and/or Littio as deemed necessary.
If your account is canceled by Littio, or is subject to verification requirements, you will generally be allowed to transfer funds out of the Platform within the 30 calendar days following the notification made for this purpose, unless such transfers are prohibited by these T&C and/or applicable legislation. In any case, the following will be taken into account:
e) During the aforementioned period, the account holder may proceed with the sale/transfer of the digital assets they have at that time.
f) The applicable fees will be those in effect at the time the holder carries out the corresponding operation(s).
g) Once the previously indicated period has expired, the holder's digital assets will be liquidated at the rates in effect in COP for the day of expiration of the said period, and Littio will retain the corresponding funds to be transferred to the holder according to the instructions they request or to the competent authorities, as appropriate. Littio will not recognize any interest on the amounts derived from the liquidation of the digital assets during the time they hold them as a consequence of what is established in this paragraph and until they are finally transferred to the corresponding person.
h) Littio may, at any time, require the holder to link a backup bank account to their user account for the Services, so that transfers can be made when there is no express instruction from the holder to the contrary. It is the sole responsibility of the holder to keep this account properly updated from time to time.
In the event of liquidation of Littio, this will be communicated to the holders of the user accounts associated with the Services, so that they can proceed with the sale/transfer of the digital assets they have at that moment in accordance with what is indicated in this section. If the holders of the user accounts associated with the Services have not proceeded with such management by the time the company enters into a state of dissolution, the holder's digital assets will be liquidated at the rates in effect in COP for the day when the company enters into a state of dissolution, and Littio will retain the corresponding funds to be transferred to the holder's backup account or, if applicable, according to the instructions the holder requests or to the competent authorities, as appropriate. Littio will not recognize any interest on the amounts derived from the liquidation of the digital assets during the time they hold them as a consequence of what is established in this paragraph and until they are finally transferred to the corresponding person. It is understood that users grant a specific mandate to Littio to keep the funds available until they can be transferred to the holder's backup account.
9. Privacy
The processing of data that is carried out as a consequence of and/or in relation to the Services shall be governed by the provisions of our Data Processing Policy, which shall be understood as incorporated into this T&C for all legal purposes.
10. Intellectual property
The Services and their content, including, but not limited to, source codes, software, texts, graphics, logos, trademarks, animations, and sounds, are the exclusive property of Littio. Therefore, the total or partial reproduction of the same (including their translation, inclusion, transmission, storage or access through any means) without prior written authorization from Littio is strictly prohibited. In accordance with the above, reverse engineering is prohibited, as well as any other method that aims to extract the codes and other technological aspects related to the Services. Similarly, it is prohibited to extract, change, lease, distribute, sell and/or license any of the Services.
By using the services, you guarantee that: (i) You will be responsible for any misuse, illegal or abnormal use of the content, information or particularities of the Services; (ii) You will not in any way, directly or indirectly, attack the Services, their information systems, nor will you interfere with their normal operation; (iii) You will not alter, block, or perform any other act that prevents the display or access to any content, information or particularities of the Services; (iv) You will not engage in and from the Services in illegal conduct similar to damages or cyberattacks, interception of communications, copyright infringements, identity theft, disclosure of secrets or falsification of documents, among others; (v) You will hold Littio harmless with respect to all damages or losses that, as a result of the breach of the provisions of this section, may have been caused directly or indirectly, which will include reimbursement of all costs, losses, and damages related to such claim.
11. Confidentiality
By "Confidential Information", it will be understood as all information communicated to you, by any means, by Littio or its collaborators in relation to the services. The above includes, but is not limited to, any information of a technical, scientific, financial, legal, tax and commercial nature, business models and strategies, know how, information related to clients and partners, projects and operations of Littio, as well as analyses and working documents, compilations, comparisons, studies and in general, all information that Littio transmits or has transmitted prior to or after the use of the Services.
Any unauthorized disclosure and use of the Confidential Information entails the obligation to respond to Littio and third parties for the damages that may have been caused as a consequence. In accordance with the above, Littio shall have the right to claim judicially and to obtain compensation for the damages that such unauthorized disclosure and use have generated.
12. Taxes
Whoever makes use of the Services will be solely responsible for paying all taxes, fees, contributions, rights, and applicable fees related to the activities derived from them, as long as they are not expressly attributable to Littio by legal provision. In accordance with the foregoing, whoever makes use of the Services will be the sole and exclusive responsible party for informing and reporting to the competent tax authorities about the proceeds from the transactions made through the Services in accordance with applicable law. The foregoing is without prejudice to the possibility that Littio may provide relevant information on the matter to the competent authorities in accordance with the applicable legislation for that purpose.
Littio does not provide any type of tax advice, so anyone using the Services will have the burden and exclusive responsibility to determine the tax implications associated with their use.
13. Risks associated with operations involving digital assets
Whoever uses the Services, simply by doing so, freely, autonomously, and voluntarily chooses to participate in operations that involve the inherent risks of activities conducted with digital assets through technological platforms.
Littio, in the development of activities related to the Services, has implemented processes and procedures aimed at ensuring the highest possible security for users of the Services. Notwithstanding the above, this does not imply that the Services are free from the various risks associated with conducting operations with digital assets that have characteristics identical and/or similar to those which are the subject of the Services, including, but not limited to, technological failures, failures associated with the use of blockchain technology, and any type of actions and/or computer elements used to commit crimes and/or cybercrimes.
For this reason, it is understood that whoever uses the Services, simply by doing so, acknowledges that they are aware of and understand the various risks associated with conducting operations with digital assets having characteristics identical and/or similar to those which are the subject of the Services, including, but not limited to, technological failures, failures associated with the use of blockchain technology, and any type of actions and/or computer elements used to commit crimes and/or cybercrimes. By accepting these T&C, it is understood that you assume and accept, freely, autonomously, and voluntarily, these risks.
Whoever uses the Services, simply by doing so, understands and acknowledges that the value of virtual assets can be volatile and that, therefore, Littio is not and will not be in any way responsible or liable for any losses that may occur as a consequence of the above.
Taking into account the current state of regulation of digital assets, it is possible that the T&C as well as the Services may be subject to eventual changes based on the regulations that may be issued in this regard at any given time. Littio, as a consequence of its commitment to comply with applicable laws, will make the necessary changes or modifications and will communicate this to the users of the Services in advance.
Littio does not provide or offer financial services nor does it engage in any type of activity typical of financial entities that require authorization for their operation.
14. Inactivity Collection Policy
In order to optimize operations and prevent the accumulation of unused balances, Littio may apply monthly charges to inactive accounts. An account is considered inactive if the user has not made transactions with the status 'COMPLETED' for a continuous period, counted from the date of the last completed transaction.
Users with between twelve (12) and eighteen (18) months of inactivity will be subject to a fixed monthly charge of one US dollar (USD $1). This charge will be applied recurrently until the available balance reaches zero or the user advances to the next category of inactivity. Upon reaching a zero balance, the account will be automatically deactivated.
In the case of users with between nineteen (19) and twenty-four (24) months of inactivity, a variable monthly charge will be applied, determined by the available balance: if the balance is equal to or less than one dollar (USD $1), that amount will be charged; if the balance is between one (USD $1) and five dollars (USD $5), a charge of two dollars (USD $2) will be applied; between five (USD $5) and ten dollars (USD $10), three dollars (USD $3) will be charged; and for balances exceeding ten dollars (USD $10), the charge will be four dollars (USD $4). If the user's balance is below the corresponding charge amount, up to the available amount will be charged.
For users with more than twenty-four (24) months of inactivity, a one-time charge equivalent to the total available balance in the account will be made. Once this charge is applied, the account will be automatically deactivated.
The reactivation of an account deactivated due to inactivity will require the user to contact Littio's support team and will be subject to a verification and validation process. Charges for inactivity are non-refundable under any circumstances, even if the user requests the subsequent reactivation of their account. These charges will be applied without prior notice during the last five (5) calendar days of each month starting from the effective date of this policy.
15. Absence of advice
The information provided by Littio directly or through the Services is purely informational, and therefore, Littio is not soliciting, influencing, and/or recommending any action based on such information. Likewise, Littio does not provide any consultation regarding the advisability of conducting any type of operations with digital assets.
Accordingly, anyone using the Services, by the mere act of doing so, understands and expressly accepts that Littio does not intend to provide any type of investment advisory.
16. Limitation of liability
Littio in the development of activities related to the Services has implemented processes and procedures aimed at ensuring the highest possible security for users of the Services. Notwithstanding the above, this does not imply that the Services are free from the various risks associated with conducting operations with digital assets that have characteristics identical to and/or similar to those that are the subject of the Services. Therefore, anyone who uses the Services, by the mere act of doing so, accepts and acknowledges that they do so at their own risk.
The operation of the Services may be affected by numerous factors outside of Littio's control. Accordingly, Littio does not guarantee or ensure that access to any component of the Services will be continuous, uninterrupted, timely, or free of errors or risks.
Littio will make all reasonable efforts to ensure that debit and credit requests related to the Services are processed in a timely and appropriate manner. Notwithstanding the above, Littio makes no representations or guarantees regarding the amount of time required to complete the corresponding processing for each operation.
Anyone who uses the Services, by the mere act of doing so, explicitly states and acknowledges that Littio, nor its employees, collaborators, representatives, administrators, and shareholders, will not be liable for any loss of profit or any other consequential, special, indirect, or incidental damages arising from or related to the aforementioned.
17. Information and third-party websites
The Services may offer hyperlinks or access to web pages and content of other individuals or entities, with the purpose of informing users of the Services about the existence of other sources that may expand the content they provide, or that are related to them.
Anyone who uses the Services, by merely doing so, acknowledges that Littio does not control, endorse, or guarantee the content included on such sites, nor is it responsible for the operation or accessibility of the web pages and content of other individuals or entities. Likewise, it is stated that they understand that Littio does not suggest, invite, or recommend visiting the web pages and content of other individuals or entities.
Anyone who uses the Services, by merely doing so, acknowledges and accepts that Littio is not responsible in any way for any content, link, resource, or service related directly or indirectly to a third-party site. Anyone who uses the Services, by merely doing so, acknowledges and accepts that Littio will not be liable for any loss or damage of any kind that arises from the use of third-party content and/or services.
18. Communications
Whoever uses the Services, merely by doing so, acknowledges and accepts that all communications related to the use or access of the Services and/or their relationship with Littio may be provided or made known to them electronically (including, but not limited to, mechanisms such as email, text messages, or communications through the platforms or interfaces of the Services).
Electronic communications will be considered received by whoever uses the Services when delivery is made in the following way: (i) Communicating them through an account enabled for the use of the Services; (ii) Communicating them through a website or mobile application associated with us or the Services; (iii) Communicating them by email to the email address that was used to register for the Services; or (iv) Communicating them by text message to the phone number that was used to register for the Services.
Accordingly, it will be the sole responsibility of whoever uses the Services to open and review the communications we deliver through any of the methods described above. Likewise, it will be the sole responsibility of whoever uses the Services to keep their primary email address and registered mobile number updated so that we can communicate with you under the previously indicated terms. Thus, if we send you a communication, but it is not received due to the corresponding primary email address or registered mobile number with us being incorrect, outdated, or blocked by the respective provider, it will be considered that the communication was delivered properly.
The holders of the accounts associated with the Services may communicate with Littio through the mechanisms enabled for that purpose in the Services or through the email soporte@littio.co.
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19. Electronic invoicing
Whoever makes use of the Services, by merely doing so, voluntarily acknowledges and expressly accepts that, in relation to the formal obligation to issue electronic sales invoices in accordance with the provisions of the current regulations governing the matter, authorizes Littio to deliver the electronic invoices that must be issued in relation to the digital assets acquired through the Services via the "littio" application, the same through which the Services are available, in accordance with what is established below.
18.1 Start date
The date from which the provisions of this clause will be understood to apply will be the date of entry into force of these T&C and will apply to the electronic invoices that must be issued in relation to the digital assets acquired through the Services via the "littio" application that for that date have not been issued.
18.2 Termination causes
The provisions in this clause will have as termination causes those provided in these T&C for the cancellation of the Services. Therefore, the provisions of this clause will remain in effect as long as the Services continue to be used by the corresponding user.
18.3 Participants in the process
For clarity, it is understood that the participants in the electronic invoicing process referred to in this clause will be: (i) The user of the services as the purchaser; and (ii) Littio as the obligated party to invoice. Likewise, Littio will use the authorized providers for the issuance of electronic invoices that it deems appropriate at any given moment.
18.4 Sales operations to which it applies
The provisions of this clause apply in relation to the digital assets acquired through the Services via the "littio" application, the same through which the Services are available.
18.5 Issuance
Littio will issue the electronic invoice electronically according to its internal processes and once issued, will make it available to the purchasing user through the Services.
18.6 Delivery
Littio will publish the electronic invoice related to the sales referred to in this clause in the Services once the sale is finalized. It will be the responsibility of the purchasing user to consult the corresponding electronic invoices through the Services.
18.7 Acceptance
Once the delivery of the electronic invoice is made under the terms provided herein, the purchasing user may verify its information to determine whether they wish to reject it or not. If the purchasing user does not expressly indicate that they reject the invoice within 3 business days following its delivery through the means enabled for that purpose via the Services or, alternatively, by communication sent to the communication channels provided in these T&C, it will be understood that it has been accepted.
18.8 Retention
The electronic invoices related to the sales operations referred to in this clause will be retained by Littio and by the authorized providers for the issuance of electronic invoices that are used from time to time, guaranteeing in all cases their suitability and veracity. Electronic retention format: (i) for the graphic representation of the electronic invoice, the PDF format will be used; and (ii) for the structured data that make up the tax document for electronic invoicing purposes, the XML format will be used.
18.9 Display
The electronic invoices will be available to purchasing users through the Services. If the purchasing user so wishes, they may request a copy of the same by communicating through the communication channels provided in these T&C.
18.10 Information technology used
The technological platform used by Littio is a mobile environment available for iOS and Android operating systems. The user must have a good internet connection, the software requirements to view their invoice are: to have the most recent version of the "littio" application available in the Google Play stores for Android or PlayStore for iOS to be able to view and download their invoice correctly.
In accordance with the above, whoever makes use of the Services understands and expressly accepts that, by accepting these T&C, Littio is exempt from delivering the electronic invoices that must be issued in relation to the digital assets acquired through the Services by any channel other than the "littio" application, the same through which the Services are available.
20. Unique agreement
The present T&C constitute the entirety of the understanding and agreement between the parties regarding the subject matter hereof, and replace all prior conversations, agreements, and understandings of any kind (including, without limitation, any previous version of these T&C) and of any nature between the parties.
21. Successors and assignees
The provisions of these T&C shall be binding and shall redound to the benefit of the parties thereto and their respective successors and assigns, provided that neither party shall assign or otherwise transfer, directly or indirectly, any of its respective rights or obligations under these T&C, nor its contractual position, without the consent of the other party. In any case, Littio may freely assign its respective rights or obligations under and/or its contractual position in these T&C to any of its affiliated parties. Likewise, Littio may subcontract, in whole or in part, any of the management that comprises the Services.
22. Divisibility
If any term, provision, agreement, or obligation of these T&C is deemed invalid, void, ineffective, unenforceable, or inapplicable by a court of competent jurisdiction or another governmental authority, the remaining provisions, agreements, and obligations of these T&C shall remain in full force and effect and shall not be considered invalid, void, ineffective, unenforceable, or inapplicable in any way, provided that the economic and legal essence of the transactions contemplated herein is not adversely affected in any substantial way for any of the parties. In the event of such a court decision from a competent jurisdiction or another governmental authority, the parties shall negotiate in good faith to amend these T&C in order to come as close as possible to the original intent of the parties in a manner satisfactory to them, so that the transactions contemplated herein may be completed to the greatest extent possible as originally contemplated.
23. Resignation
No waiver shall operate or be construed as a waiver with respect to any breach that has not been expressly identified by such written waiver, whether of a similar or different nature, and whether it occurs before or after such waiver. No abstention from exercising, or delay in exercising, any right, remedy, prerogative or privilege arising from these T&C shall operate or be construed as a waiver of these; nor shall any individual or partial exercise of these prevent any subsequent exercise of such rights, remedies, prerogatives or privileges or the exercise of any other right, remedy, prerogative or privilege.
24. Survival
All provisions of these T&C that, by their nature, extend beyond the expiration or termination of the legal relationship arising from their acceptance shall survive the termination or expiration of the same.
25. Applicable law
These T&C will be governed by and construed in accordance with the laws of the Republic of Colombia.
26. Dispute resolution
The parties agree that for the resolution of any controversy arising under this Contract or regarding the interpretation of this Contract, its execution, compliance, termination, and/or settlement, the following procedure must be exhausted for the resolution that may arise:
a) Amicable Resolution: The parties will resolve the differences and/or conflicts that arise between them due to the content and scope of the provisions contained in these T&C amicably through good faith discussions, within a maximum period of 15 business days from the date on which either party has notified the other in writing about the existence and reasons for the conflict. The above shall not be understood as a limitation or restriction on the administration of justice and, therefore, the parties may exercise the actions that are legally applicable to them.
b) Ordinary Justice: Any disagreement or controversy arising from the Services subject to these T&C will be submitted to the ordinary justice of the judges and courts of the city of Bogotá D.C.
27. Validity
These T&C are in effect since August 2, 2023, and apply to all Services executed from the date of their publication onward.
The present T&C may be modified from time to time by Littio, and such modifications shall be deemed applicable to the Services executed from the corresponding modification onward.