These Terms and Conditions (“Terms”) apply to Your access to and use of the Web and Mobile “Application” provided by PayOwl Exchange UAB, registration code 306160395, address Lithuania, A. Goštauto g. 8-328, postal code LT-01108, Vilnius (“We”, “Us”, and “Our”).

Interpretation

The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.

Definitions

For the purposes of these Terms and Conditions:

• Account means a unique Account created for the Client to access our Service or parts of our Service.

• Affiliate means an entity that controls, is controlled by, or is under common control with a party, where "control" means ownership of 50% or more of the shares, equity interest or other securities entitled to vote for election of directors or other managing authority.

• Company (referred to as either "the Company", "We", "Us" or "Our" in this Agreement) refers to PayOwl Exchange UAB, A. Goštauto g. 8-328, LT-01108 Vilnius.

• Content refers to text, images, or other information that can be posted, uploaded, linked to or otherwise made available by the Client, regardless of the form of that Content.

• Device means any Device that can access the Service such as a computer, a cell-phone or a digital tablet.

• Feedback means Feedback, innovations or suggestions sent by the Client regarding the attributes, performance or features of our Service.

• Subscriptions refer to the Services or access to the Service offered on a subscription basis by the Company to the Client.

• Terms and Conditions (also referred as "Terms") mean these Terms and Conditions that form the entire agreement between the Client and PayOwl regarding the use of the Service.

• Third-party Provider means any Services or Content (including data, information, products or Services) provided by a third-party that may be displayed, included or made available by the Service.

• Website refers to PayOwl, accessible from https://payowl.com/en/

• You/Client/User means the individual accessing or using the Service, or the Company, or other legal entity on behalf of which such individual is accessing or using the Service, as applicable. Under GDPR, You can be referred to as the Data Subject or as the User as You are the individual using the Service.

Our Website is https://payowl.com/ and our app is PayOwl supported by iOS.

Our contact details are info@payowl.com

1. APPLICATION AND SERVICES

You can access the Application through Our Website: www.payowl.com or download our app via the app store by searching for PayOwl.

Through the Application, You can access the following Services "Services":

• Use of the Application.

• Virtual Asset Services – provisioning a virtual asset wallet/Account and providing virtual asset exchange and transfer Services.

• Virtual IBAN issuing – for fiat currency deposits and withdrawals.

• Payment Card related Services – Payment Card issuing and transactions.

PayOwl operates a platform accessible through the PayOwl application, which can be downloaded on Your mobile Device (the "App"), or accessed via our Website at https://payowl.com. Apply for, manage, and utilize a PayOwl payment card linked to Your PayOwl Account funds (the "PayOwl Service").

The information provided through the PayOwl Service is not intended to constitute financial advice or any other form of advice. It is of a general nature and not specific to You. It does not constitute an offer to buy or sell, nor is it a solicitation of an offer to buy or sell any product or Service.

You are advised to carefully assess whether Your financial situation and risk tolerance are suitable for any transactions conducted using the PayOwl Service. It is Your responsibility to conduct thorough research before engaging in any transactions through the PayOwl Service.

Your use of the Application and Services is governed by these Terms. By accessing or using the Application and Services, You agree to be bound by these Terms in their entirety. If You do not agree with any part of these Terms, You may not access or use the Application and Services.

The PayOwl Service is provided in cooperation with Our Third-party Provider(s). Your use of the Services is hence additionally subject to the terms of our Third-party Provider(s) which You must accept before using the Services.

Virtual Asset Services are provided, and Virtual IBAN issuing and transacting is made available by Striga Technology OÜ (registry code: 16298772), address: Sepapaja 6, Tallinn, Estonia, in accordance with its terms and conditions.

The Payment Card is issued, and related payment Services are provided by Wallester AS (registry code: 11812881), address F.R. Kreutzwaldi 4, 10120 Tallinn, Estonia, in accordance with its terms and conditions.

2. ACCOUNT CREATION

If the Client wishes to use the Service, they must create an Account in the application. The Clients Account must be linked to a valid e-mail address, and they must create a password that allows them to log in to their Account. Requirements of PayOwls third-party Service provider(s) apply for Account creation and access to the PayOwl Service.

The Clients password to access the Application is stored by PayOwl.

Password requirements:

• Must be 8-32 characters

• Must contain at least one digit

• Must contain at least one lowercase letter

• Must contain at least one uppercase letter

• Must contain at least one special character

• Connection is secured by TLS (Transport Layer Security).

3. FEES

We charge the following fees for the Services we provide through the Application:

PayOwl collect the above fees through our third-party provider Striga Technology OÜ. PayOwl guarantee that they instruct Striga Technology OÜ to debit the fees payable by the Client from their Account in accordance with the pricing applicable to them. PayOwl assumes sole liability for compensating charged fees to which the Client have not consented.

While the above fees are standard, PayOwl may adjust fees depending on the client’s specific usage or volume of transactions. Clients can view and review their customised fees by logging into their account. PayOwl reserves the right to modify fees at any time, with prior written notice to the Client.

PayOwl is responsible for ensuring that all fees charged are in accordance with the Client's consent and applicable fee structure. In the event of any unauthorised charges, PayOwl will take full responsibility for resolving the issue and ensuring appropriate compensation to the Client.

4. SYSTEM SECURITY AND DOWNTIMES

PayOwl guarantee system security through:

• Encrypted hard drives

• Encrypted passwords and other sensitive data, as required

• Continuous monitoring of hardware, software, libraries, and system component vulnerabilities

• Centralized logging system

• Internal production access policy restricted exclusively to DevOps

• Utilization of encrypted protocols for all connections

• OWASP best practices

Downtimes: As of the date of this document, PayOwl have not experienced any recorded instances of downtime. However, it is acknowledged that unforeseen events or technical issues may arise, leading to temporary disruptions in Service. While we strive to maintain continuous operation, PayOwl cannot always guarantee uninterrupted access. In the event of downtime, PayOwl will make all reasonable efforts to restore Service promptly and minimize any inconvenience to their Clients.

Maintenance: Maintenance activities are conducted as required to ensure the continued operation and security of PayOwls platform. This may include routine updates, patches, and enhancements to our systems and infrastructure. PayOwl strive to minimize disruptions to our Users by scheduling maintenance during off-peak hours whenever feasible. Users will be notified of any scheduled maintenance activities in advance.

5. DATA PROCESSING

PayOwl process Your personal data in accordance with our Privacy Policy which is available on our Website: https://payowl.com

To the extent PayOwl process Client data upon the instructions of Striga Technology OÜ and Wallester AS, they act as a data processor, but upon processing any additional personal data and/or for additional purposes, PayOwl act as a data controller.

6. CUSTOMER SUPPORT

Customers can reach our support team by emailing info@payowl.com. We are committed to providing prompt assistance to our customers. Our customer support team aims to respond to all inquiries within 24 to 48 hours. However, please note that response times may vary based on the complexity of the issue and the volume of inquiries.

OTHER TERMS:

7. ACKNOWLEDGMENT

The Clients access to and use of the Service is also conditioned on their acceptance of, and compliance with, the Privacy Policy of PayOwl. PayOwl's Privacy Policy describes our policies and procedures on the collection, use and disclosure of Clients personal information when they use the Application or the Website. It further informs the Client about their privacy rights and how the law protects them. Please read our Privacy Policy carefully before using our Service.

8. CONTENT

PayOwl's Service allows the Client to post Content. The Client is responsible for the Content that they post to the Service, including its legality, reliability, and appropriateness.

By posting Content to the Service, the Clients grants PayOwl the right and license to use, modify, publicly perform, publicly display, reproduce, and distribute such Content on and through the Service. The Client retains any and all of their rights to any Content they submit, post or display on or through the Service and they are responsible for protecting those rights. The Client agrees that this license includes the right for PayOwl to make the Clients Content available to other Users of the Service, who may also use the Clients Content subject to these Terms.

The Client represents and warrants that: (i) the Content is theirs (the Clients owns it) or they have the right to use it and grant PayOwl the rights and license as provided in these Terms, and (ii) the posting of the Clients Content on or through the Service does not violate the privacy rights, publicity rights, copyrights, contract rights or any other rights of any person.

9. INTELLECTUAL PROPERTY

Except for the Content the Client owns and has chosen to include on this Website, under these terms, PayOwl and/or its licensors retain ownership of all intellectual property and materials contained within this Website, with all rights reserved. The Client is granted a limited license only, subject to the restrictions provided in these terms, for the purpose of viewing the material contained on this Website.

10. TERMINATION

We reserve the right to terminate or suspend Your Account immediately, without prior notice or liability, for any reason, including, but not limited to, if You breach these Terms and Conditions. Upon termination, Your right to use the Service will cease immediately. If You choose to terminate Your Account, You can simply discontinue using the Service.

11. LIMITATION OF LIABILITY

PayOwl, its Affiliates, officers, directors, employees, agents, or licensors shall not be liable for any damages arising out of or in connection with the Clients use of the PayOwl Website or Services, to the extent permitted by law, whether based on contract, tort, negligence, or any other legal theory. In no event shall PayOwl's total liability for any claims under this agreement exceed the total amount of fees paid by the Client to PayOwl during the twelve (12) month period immediately preceding the event giving rise to such liability, to the extent permitted by applicable law.

This limitation of liability does not extend to third-party Services where liability is governed by the third-party provider's terms.

Exceptions:

Notwithstanding the foregoing, PayOwl's liability shall not be limited or excluded for death or personal injury resulting from negligence, fraud, or fraudulent misrepresentation, or for any other liability that cannot be excluded or limited by applicable law.

Sole Remedy:

The Clients sole remedy for any dispute with PayOwl is to discontinue their use of the PayOwl Website and Services, to the extent permitted by applicable law.

12. SERVICE AVAILABILITY AND LIMITATION OF LIABILITY

PayOwl endeavors to maintain the operational integrity of its Service and aims to provide uninterrupted access to the Client. However, the Client acknowledges that occasional interruptions, errors, or defects may occur due to circumstances beyond PayOwl's reasonable control, including but not limited to acts of nature, technical malfunctions, or Third-party Service interruptions.

While every reasonable effort is made to minimize downtimes and ensure continuous access to the Service, the Client acknowledges and agrees that PayOwl assumes no liability for interruptions, errors, or defects arising from circumstances beyond its reasonable control.

PayOwl shall not be liable for any damages or losses incurred by the Client as a result of such interruptions, errors, or defects, to the extent permitted by applicable law.

13. SEVERABILITY

If any provision of these terms is deemed unenforceable or invalid, that provision will be modified and interpreted to fulfill its intended purpose to the maximum extent permitted by applicable law. The remaining provisions of these terms will remain in full force and effect.

14. WAIVER

Except as expressly provided herein, the failure to exercise a right or to enforce an obligation under these terms shall not impair a party's ability to exercise such right or enforce such obligation at any later time. Furthermore, the waiver of a breach shall not be construed as a waiver of any subsequent breach.

15. TRANSLATION INTERPRETATION

These terms and conditions may have been translated if PayOwl have made them available to the Client on its Service. The Client agrees that the original English text shall prevail in the case of a dispute.

16. FOR EUROPEAN UNION (EU) USERS

If You are a European Union consumer, You will benefit from any mandatory provisions of the law of the country in which You are resident in.

17. GOVERNING LAW AND DISPUTE RESOLUTION

These terms will be governed exclusively by the laws of Lithuania. Any dispute arising out of or in connection with these terms, unless amicably settled between the Parties, shall be referred to the competent court in Lithuania, determined as per the procedural law of Lithuania. The Client agrees that any dispute resolution proceeding subject to Lithuanian law under the preceding sentence shall be conducted only on an individual basis and not as a plaintiff or class member in any purported class, consolidated or representative action or proceeding under Lithuanian law. Lithuanian courts cannot consolidate or join more than one claim under Lithuanian procedural law and cannot otherwise preside over any form of a consolidated, representative, or class proceeding. Any relief awarded cannot affect other Clients under Lithuanian law.

18. COMMUNICATIONS AND NOTICES

We will contact the Client through the PayOwl Service or the email address they provide on their PayOwl profile. Please make sure to keep this updated with an email address You check regularly. The Client should also check their transaction history regularly through the PayOwl Service and let us know immediately of any errors or unauthorized transactions. PayOwl will communicate with Clients in English through the PayOwl Service, email, phone, or mail. Please ensure that contact information in Your PayOwl Profile is current so that we can reach You regarding any questions or issues with Your Account.

19. AMENDMENTS TO TERMS

We reserve the right to update and amend these terms and policies from time to time. Whenever possible, we will notify the Client at least 2 months in advance of any upcoming changes. If the Client disagrees with the modifications, they must discontinue using PayOwl Services before the changes take effect. By continuing to use the PayOwl Service, the Client indicates acceptance of the revised terms.

Some alterations may take place immediately and without prior notice. This could occur when PayOwl are mandated by law to make changes or when they make minor adjustments to the terms that don't affect the Clients rights or our obligations. In such cases, PayOwl will notify the Client promptly.

20. CONTACT US

If the Client has any questions about these Terms and Conditions, they can contact us by email: info@payowl.com