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 balance.

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 merchandise.

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 System.

2 Issuer (Hd-Money)

2.1 Reserve Requirement
All funds in circulation shall be backed 100% at all times with unencumbered USD.

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 secure.

2.3 Fees
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 cause.

3.0 Agreement
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.

Privacy

HD-Money will produce and maintain a Privacy Policy, which will be publicly available at the Liberty Reserve website. In the event of any conflict between the Privacy Policy and this Agreement, the terms of 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.