Terms and Conditions
THIS AGREEMENT SETS FORTH THE TERMS AND CONDITIONS UNDER WHICH HD
MONEY WILL PROVIDE ITS USERS WITH SERVICES. THIS AGREEMENT DESCRIBES
USER'S RIGHTS AND OBLIGATIONS WHEN USING THESE SERVICES. ALL USERS
MUST READ CAREFULLY AND ENSURE THAT THEY FULLY UNDERSTAND THESE
REGULATIONS PRIOR TO USING THE SERVICE.
CREATION OR USE OF AN HD-MONEY ACCOUNT MEANS USER ACCEPTS ALL THE
TERMS AND CONDITIONS OF THIS AGREEMENT.
1 Conditions of Use
User acknowledges that
(i) HD-Money is not a bank
(ii) HD-Money accounts are not insured by any government or private agency and
(iii) HD-Money is not subject to banking regulations.
1.1 User Obligations
User agrees that all User obligations under this Agreement are the
joint and several obligations of all the Users with greater than
read-only access to a particular account.
1.2 Identifying Information.
User must provide Issuer with valid and accurate identifying
information as determined by HD-Money. All official communication
must be done using the e-mail address on file. HD-Money will not
release private account information to a third party email address.
1.3 Protection of Passphrase
User is responsible for the protection of User's Passphrase and PAK
that gives access to User's HD-Money account. User agrees that, in the
event of the loss or misuse of User's Passphrase or PAK, HD-Money
disclaims all liability for such loss. User shall indemnify and hold
harmless Issuer for relying on transactions authorized using User's
Passphrase and PAK prior to such time as User notifies Issuer that
User's Passphrase has been compromised. This also applies to all
transactions conducted by use of the API function. DO NOT ACTIVATE THE
API FUNCTION IF YOU WILL NOT BE USING IT. PROTECT YOUR API PIN.
1.4. Irrevocability of Spends
User agrees that all Spends from User's "HDM" balance, initiated by
User (or those with pass phrase access) are final and not reversible.
1.5 User understands and acknowledges that HD-Money does not act as
judge or jury or as law enforcement or as a court of law with respect
to any disputes between users when a payment is made from the HDM
1.6 Any disputes that arise between Users are not the responsibility
of HD-Money. ALL HDM PAYMENTS ARE FINAL.
1.7 User acknowledges Issuer does not make any guarantees regarding
purchases made when using the HD-Money service. User acknowledges that
HD-Money does not ensure the quality, safety, or legality of any
merchandise received, nor that the seller will even ship the
1.8 User agrees to indemnify and hold harmless HD-Money, its agents,
affiliates, officers, directors and employees from any claim or demand
whatsoever relating to or arising out of User's use of the HD-Money
2 Issuer (Hd-Money)
2.1 Reserve Requirement
All funds in circulation shall be backed 100% at all times with
2.2 Secure HD-Money Interface
Issuer will ensure that a secure online User interface is made
available. In addition, the Automatic Payment Interface is to be
HD-Money will collect fees on all "HDM" transactions in the amount of
1% of the total transaction amount. Each HDM transaction has a maximum
applicable fee of $2.99.
2.4 Right of Association
HD-Money reserves the right to refuse service to particular
individuals or entities, at its sole discretion, with or without
This Agreement constitutes the entire and whole Agreement between User
and HD-Money and is intended as a complete and exclusive statement of
the terms of the Agreement. This Agreement shall supersede all other
communications between the parties. This Agreement may be amended only
upon execution of a subsequent agreement or upon User's failure to
object within 10 days to modifications posted on the HD-Money website.
publicly available at the Liberty Reserve website. In the event of any
this Agreement will control.
1.1 HD-Money will not store Passphrase in plaintext. No employee of
HD-Money will ever ask for User's Passphrase.
1.2 User agrees that the only way to recover access to a User Account
where the Passphrase or Account Number have been lost is by following
the password recovery procedure established by HD-Money. User is
responsible for being able to meet the requirements and costs for the
password recovery. HD-Money will not be responsible in any way for any
of User's losses due to User failing to meet the requirements for
password recovery. Users have the responsibility of storing their
password in a secure location.
1.3 Account Privacy
HD-Money shall not reveal User's contact or identifying information or
transaction history to any third party, unless prescribed by a legally
enforceable court order.