Terms & Conditions

INTRODUCTION

 

This agreement constitutes a contract (hereinafter, the “Contract)”) between the User (hereinafter, the “User” or collectively, the “Users”) and SHASTA TECHNOLOGIES, S.L. BRANCH VENEZUELA, CA, domiciled in the city of Caracas, registered with the First Commercial Registry of the Judicial District of the Capital District and Miranda State, on May 29, 2020, under No. 21, Volume 11-A, and before the Single Tax Information Registry under N ° J500233159 (hereinafter, indistinctly “Shasta” or the “Company”) and the clauses established below represent the general terms and conditions of use (hereinafter, the “Terms and Conditions”) applicable to the website https://shasta.me, (hereinafter, the “Website”) the Shasta mobile application (hereinafter, the “App”), and the services (hereinafter, the “Services”) offered to through these platforms or those that may be available in the future that are operated by Shasta.

 

 

 

By accessing or using the Website and / or the App, the User, on their own behalf in the case of being a natural person or on behalf of a legal person, agrees to sign the Contract and states that they have read, understood and accepted the Terms and Conditions , along with the Privacy Policy and other principles that are incorporated into these Terms and Conditions by reference. If you accept the Terms and Conditions on behalf of a legal person, he confirms that he is a duly authorized representative to do so on his behalf.

 

 

 

These Terms and Conditions may be modified by the Company at any time and will inform the User of any changes made to them, and, if applicable, how to accept them, as described in clause 3. Without prejudice to the foregoing , the corresponding changes will be published on the Website, so it is recommended to read them each time you visit it. These changes will come into effect at the time of their publication and the use of the Website and / or App after the publication of the same, the acceptance of the updated Terms and Conditions will be considered for all purposes.

 

 

 

About us

 

 

 

Shasta is a non-banking institution, issuer and administrator of credit, debit, prepaid cards and other financing or electronic payment cards, duly authorized by the Superintendency of Institutions of the Banking Sector (SUDEBAN) of the Bolivarian Republic of Venezuela, through the Official Letter N ° SIB-II-GGR-GA-02762, dated May 26, 2020, which, according to what is described in these Terms and Conditions, provides electronic payment processing services and transfers through the use of a virtual wallet, which, assigned individually to each User, will allow them to access the following services: (a) make and receive payments between Shasta Members, (b) debit card issuance and management services and electronic payments (c ) hire exclusive experiences such as discounts in shops, immediate assistance, Shasta card to use the money in your wallet in shops, etc. and, (d) also subject to the terms and conditions of said service, contract the opening of an electronic money account, make currency exchanges and the issuance of a prepaid financial card and enjoy the services associated with them, all of this from quickly and easily (hereinafter, the “Services“).

 

Registration and memberships

 

 

 

Any person who downloads the App and creates an account in it (hereinafter, interchangeably the “Account” or “Account Shasta ”), for which you must register and designate your access password. For this, the User must be at least eighteen (18) years old and have the legal capacity to contract. If the User is representing a legal person, it must be incorporated, operate, or have its headquarters in Venezuela and the User must have the powers of representation to contract on its behalf and to oblige it.

 

 

 

In order to carry out the satisfactory registration in the App, the User must provide the information that is required in application of the Know Your Customer Policy (PCSC) complied with by Shasta. Once the information provided has been processed and analyzed, Shasta will confirm that the User has been registered or, otherwise, may inform the User that they do not meet the conditions to be a Shasta Member.

 

 

 

The User guarantees the veracity and authenticity of the information entered. Shasta may at any time require the provision of additional information and / or receipts in order to corroborate the accuracy of the information provided, as well as proceed to the rejection of your registration request or the temporary or permanent suspension of your Shasta Account if your data they cannot be confirmed or their information presents inconsistencies. In this sense, the User authorizes Shasta to make the necessary consultations to third parties to validate the identity and ownership of the User’s banking instruments.

 

 

 

In any case, Shasta reserves the right of admission and maintenance of its Members, without in any case the rejection of a Member may be determined by reason of birth, race, sex, religion, opinion or any other condition or personal circumstance of the User.

 

 

 

It is prohibited for a User to have more than one (1) Account. In the event that Shasta detects different Accounts that contain matching data, it may temporarily or permanently suspend them.

 

 

 

Likewise, the User must keep their information permanently updated and maintain the confidentiality of their access password. Your Shasta Account is personal and non-transferable, the User being obliged to notify Shasta in the event that an unauthorized third party has had access to it.

 

 

 

The User may opt for additional services within Shasta, such as Shasta memberships (Lite, Lite +, Premium, VIP). Currently they offer additional advantages and amenities, they can be contracted through the application (Profile section -> Memberships) or by contacting customer service from it. Additional amenities are specified in more detail in point 6. The User may unsubscribe at any time, once the last billing period has ended since the last notice.

 

 

 

The User gives his express consent to the use of electronic means of acceptance and data messages, such as the action of clicking on a checkbox or on an icon that includes expressions such as “accept”, “I agree”, “Finalize”, “ok”, “confirm”, or similar, or the introduction of a username and password (“Telematic Signature”), as a way of giving consent for, by way of example, but not limited to, the celebration of contracts with Shasta, the acceptance of warnings and communications, as well as for the sending of orders and instructions through the App.

 

 

 

Consequently, the sending of orders and instructions through the App implies the authorization and acceptance by the User of the operation carried out, as well as the impossibility of refusing or rejecting the operations carried out through the App (even in cases where , due to the User’s negligence, this or a third party who had access to the device where the App was downloaded carried out the operation, or when the latter has acted fraudulently or in bad faith).

 

 

 

The User expressly accepts that Shasta may archive the contracts and orders signed on its secure servers, by way of telematic delivery, and use them as proof of its execution. In the event of a discrepancy between your copy and the archived contract or order, the latter shall prevail.

 

 

 

 

 

Changes

 

 

 

Shasta may modify this Agreement and its Privacy Policy from time to time. If Shasta decides to include any important changes in any of them, it will notify the User through its Services, or to the email account that the User has designated in their registration, to give them the opportunity to review the changes before they are made. effective. Therefore, the User should make sure to read said notice carefully, as well as the new version of this Contract and Privacy Policy.

 

 

 

If the User does not agree to any of the changes, they may cancel their account by contacting Shasta through the following email: [email protected] In particular, Shasta may modify the price of paid Memberships at any time (described below), including periodic subscription fees, and will inform the User of any changes made in the prices in advance and, if applicable, how to accept those changes. Price changes will apply at the beginning of the next subscription period after the date the price change was made. If the User does not agree with the price change, they will have the right to reject the change by terminating this Agreement before the price change becomes applicable. Provided that the applicable legislation allows it, the use of Shasta Services after publishing or sending a notice about changes in these terms will be considered for all purposes acceptance with the updated terms by the User.

 

 

 

Linking of a bank account or cards

 

 

 

Once registered, the User may include in his/her Shasta Account, the information of his/her bank account(s) in U.S. Dollars or Euros (hereinafter, “Linked Bank Account” or “Linked Bank Accounts”) and of one or more credit or debit cards (hereinafter, Cards) held by him/her. These Linked Bank Accounts and Cards may be used as indicated below, through the App.

 

 

 

It is hereby stated that only bank accounts and cards held by the User may be linked. If the User is not the holder of such accounts, he/she should refrain from trying to link them, as such linking will be automatically rejected. Failure to comply with this prohibition may lead to temporary or indefinite suspension of the Account.

 

Services

 

Shasta, through the App and in accordance with these Terms and Conditions, allows Users to access the following services (“Shasta Payment Services”):

 

  1. Virtual Wallet.
  2. Transactions.
  3. Transfers and payments to third parties.
  4. Transfers received from third parties.
  5. Payment request.
  6. Issuance of Cards.
  7. Currency changes.

 

For a better experience, it is recommended that the first of the payments made by each User be made by bank transfer.

 

 

 

Virtual Wallet

 

 

 

The User may manage their funds through a virtual wallet (hereinafter, “Virtual Wallet” or “Virtual Wallets”) in which they can be deposited. Your balance in the App may be reflected in any of the currencies that Shasta accepts, that is, Bolivars, United States Dollars or Euros. The User understands and accepts that the funds credited to the Virtual Wallet will not generate interest or other earnings.

 

 

 

To have funds in their Virtual Wallet, the User must carry out the deposit of the corresponding funds, in the currency in question, in a bank account in one of the Affiliated Banks (hereinafter, “Affiliated Banks”) of which Shasta is the owner (hereinafter, “Treasury Account”) and whose data it will promptly indicate. Shasta will be the sole owner of the Treasury Account and it will be managed exclusively by it. It is not an individual or joint bank account of Users, it is a Shasta bank account in which all Users will keep all their funds.

 

 

 

It is understood that Shasta will not be responsible for the insolvency of any of the Affiliated Banks or any third party that affects the Treasury Account, especially those derived from political and economic decisions that could be taken in the Bolivarian Republic of Venezuela.

 

 

 

Said deposits may be made following any of the processes indicated below:

 

  • The User may transfer the corresponding funds to the Treasury Account, from one of their Linked Bank Accounts. This will be done by the User indicating in the App the Linked Bank Account in question, according to the currency in which the operation will be carried out and the exact amount of funds to be credited in the Virtual Wallet.
  • The User may transfer the corresponding funds to the Treasury Account, from an unrelated bank account of which he is the holder. Shasta may require in these cases that the transaction details be notified, such as the banking institution from which it was made and the reference number.
  • The User may make the deposit in the Treasury Account, through their Cards, through the appropriate bank transfer.
  • The User may make the direct cash deposit in the currency in question, in the Treasury Account through an ATM, in accordance with current Venezuelan regulations.
  • The User may receive funds in the Treasury Account that are transferred by other Shasta Users and / or third parties not linked to Shasta.

 

 

 

Once the funds are available in the Treasury Account, the same amount of funds transferred to it, less any amount for commissions that may be applicable, will be reflected in the User’s Virtual Wallet. The term for the effective availability of the funds in the Treasury Account will be twenty-four (24) hours, if the transfer was made from an Affiliate Bank or with a Card issued by any of these and up to one (1) week if the transfer It was carried out from a banking institution other than the Affiliated Banks or with Cards issued by them.

 

 

 

With these funds, the User will be able to make payments in the manner indicated below or order their withdrawal to their Linked Bank Accounts or to the bank account linked to the Cards. In these cases, these funds will come out of the Treasury Account and the User authorizes Shasta to reduce the balance reflected in the Virtual Wallet and to make the corresponding deductions for commissions that are applicable according to the corresponding transaction. Shasta will process your withdrawal request, within a maximum period of forty-eight (48) hours.

 

 

 

 

 

Transactions

 

 

 

Users may make transfers to third parties of the funds deposited in their Virtual Wallets, as well as receive transfers from them, and request payments to them. The aforementioned third parties may: i) be Shasta users who are in their contact book of the device where the User has downloaded the App (hereinafter, “Shasta Contact” or “Shasta Contacts”); ii) be Shasta users who are not in your contact book (hereinafter, “Registered Third Party”); iii) not be registered in Shasta (hereinafter, “Unregistered Third Party”).

 

 

 

The above transactions will be carried out through the following mechanisms, subject to the availability of funds in the currency in question, existing in your Virtual Wallet:

 

 

 

  • Transfers and payments to third parties.

 

 

 

To Registered Third Parties: To carry out this transfer, the User must enter the exact amount of the transfer and the recipient’s email address or send the QR code linked to their Virtual Wallet to the Registered Third Party, who must scan it to receive the funds. transferred by the User.

 

 

 

To Unregistered Third Parties: If the User is sending money to an unregistered Third Party, the User will decide: i) that an invitation be sent to him via email, notifying him that he has received a payment and requesting his registration to receive it. . If that recipient does not accept the invitation to register within a period of forty-eight (48) hours, then the money will not be sent and the balance will be automatically reversed to the User to their Virtual Wallet or ii) that is transferred to the bank account that the User indicates, for which he will be required to provide Shasta with all the necessary data to carry out this transaction.

 

 

 

To other Shasta Contacts: To carry out this transfer, the User must enter the exact amount of the transfer and select the recipient Shasta Contact, thus authorizing the payment transaction.

 

 

 

 

 

  • Transfers received from third parties.

 

 

 

Registered Third Parties: In order for this transfer to be carried out, the User must provide their email address to the Registered Third Party or their QR code to receive the funds in their Virtual Wallet.

 

 

 

Unregistered Third Parties: In order for this transfer to be carried out, the User must provide the bank details of the Treasury Account to the Unregistered Third Party. Once the funds transferred by the Unregistered Third Party are available in this bank account, the same amount of funds transferred, less any amount for commissions that may be applicable, will be reflected in the User’s Virtual Wallet.

 

 

 

From other Shasta contacts: In order for this transfer to be carried out, the Shasta Contact must select the User among their Shasta contacts to send the funds to their Virtual Wallet.

 

 

 

  • Request for Payments.

 

 

 

Through this option, the User can request Shasta to process a payment request to a third party in order to request that it transfer a certain amount of funds to their Virtual Wallet.

 

 

 

To Registered Third Party: This requirement will be carried out by Shasta via email and once it is accepted and the amount is paid by the third party, it will appear credited in the User’s Virtual Wallet.

 

 

 

To Unregistered Third Party: When payment is requested from an Unregistered Third Party, Shasta will send the latter an invitation requesting their registration by email. Once the invitation is received, the Unregistered Third Party may accept it and register in the App and deposit funds in their Virtual Wallet through the process indicated above in these Terms and Conditions, and finally, once accredited, make the transfer to the User’s Wallet. Virtual. If the Unregistered Third Party decides not to accept the invitation to enroll within a period of forty-eight (48) hours, the User’s request for payment will expire.

 

 

 

To other Shasta Contacts: The User may request money from Shasta Contacts, for which he must enter the exact amount he wishes to receive and select this other Shasta Contact among his contacts, thus authorizing the sending of a communication to him, who in turn must have the User among their contacts and they will be able to approve the payment or reject it.

 

 

 

It is expressly understood that Shasta will not be responsible under any circumstances for the existence, quality, operation or legitimacy of the goods or services offered or acquired by the User and paid through the App.

 

 

 

Likewise, it is the responsibility of each User to check their transaction history in the App and notify Shasta in the event that any movement appears incorrect, has not been made in accordance with its instructions, has been sent to a wrong third party, or has been made. for an incorrect amount, within a period of twenty-four (24) hours from the date on which the corresponding transaction was carried out.

 

 

 

Shasta will initiate the evaluation of the transaction and will respond to the User within twenty-four (24) hours. If Shasta determines that the unauthorized transaction has been made by error creditable to Shasta, Shasta will cover the total amount of the transaction or will debit the additional funds credited in error in the event that an amount greater than that corresponding to the User is received. However, the User will be responsible in the event that it is determined that he has entered erroneous data in his instructions, for which this in no case will generate any kind of responsibility to Shasta.

 

 

 

 

 

Card issuance

 

 

 

Additionally, and only for Users who request it through the App, Shasta may issue one or more debit cards in the User’s name, which will be linked to their Account and will allow them to make use of the funds available in it.

 

 

 

By contracting the Card Services, the User knows and accepts that they may link their Shasta Account to the Card requested by them from Shasta, in accordance with clause 4.

 

 

 

 

 

Currency exchanges

 

 

 

Through the App, Users may request a currency exchange on the amount they deem appropriate up to the maximum of the funds available in their Accounts their Virtual Wallet to carry out this operation (hereinafter, “Change”).

 

 

 

The User who wishes to request a Change must enter in the App the currency of origin, the exact amount and the currency to which the selected amount is to be changed. Once said request has been made, the User will receive a change proposal with the exact amount that they will receive once the Change has been confirmed and completed (hereinafter, the “Resulting Amount”). This change proposal will have a temporarily limited availability, usually thirty (30) seconds, in which the User may accept or reject said proposal, understanding the lack of acceptance as the rejection of it. Once confirmed and accepted by the corresponding banking institution, the User will have access to the result of the Exchange operation, immediately or, if this is not possible, in a reasonably short period of time, in the User’s Account.

 

 

 

The applicable exchange rate will be the one offered in each Exchange by the banking institution of the payment entity that works with Shasta at all times. The Resulting Amount will include all commissions, fees and service charges applied, either as an exact total amount or through the percentage that this represents on the Resulting Amount.

 

 

 

The App will show the types of currencies available at all times. Shasta does not guarantee the availability of any currency for the Exchange, nor the viability or success of the Exchange operation until it has been offered, confirmed by the User in accordance with these Terms and Conditions and effectively carried out by the institution. bank.

 

 

Security and custody of money in the Services.

 

 

 

The User’s funds will be guarded by regulated entities, which will keep them in bank accounts arranged exclusively for the safeguarding of funds of the Users of the App, according to the ecosystem in which the User operates:

 

 

 

If the User has completed his registration by providing the Identity Card of Venezuela as an identification document, he will be authorized to carry out operations at the national level. In that case, when the User deposits money in their virtual wallet, or receives money to their virtual wallet from transfers originated by other Users, said money will be considered cumulatively as their funds, which will be safeguarded by the Venezuelan entity BANCO NACIONAL DE CRÉDITO, CA, BANCO UNIVERSAL, (hereinafter, “BNC”), domiciled in the city of Caracas, registered with the Commercial Registry V of the Judicial District of the Capital District and Miranda State, for the execution of payment operations maintaining them in a bank account separate from their own funds, being responsible for their custody.

 

 

 

If the User has completed his registration by providing the Venezuelan Passport or extension as an identification document, he will be authorized to carry out operations at the international level. In that case, when the User deposits money in their virtual wallet, or receives money to their virtual wallet from transfers originated by other Users, said money will be considered cumulatively as their funds, which will be safeguarded according to their origin by the BNC or by the Spanish entity EASY PAYMENT AND FINANCE, EP, SA, (hereinafter, “EASY”), with registered office at Calle Gran Vía, nº 51, 6º C, 28013-Madrid (SPAIN), holder of the NIF A-85785905, and registered in the Madrid Mercantile Registry, which is subject to the supervision of the Bank of Spain, also registered in the Official Register of Payment Institutions of the Bank of Spain, under number 6849, for the execution of the payment operations keeping them in a bank account separate from their own funds, being responsible for their custody.

 

 

 

If the User has completed his registration by providing a National Document or European Passport as an identification document, he will be authorized to carry out international operations. In that case, when the User deposits money in their virtual wallet, or receives money to their virtual wallet from transfers originated by other Users, said money will be considered cumulatively as their funds, which will be safeguarded by EASY, for the execution of payment operations, keeping them in a bank account separate from their own funds, being responsible for their custody.

 

If the User requests the issuance of a European card associated with their virtual wallet, the Spanish entity PECUNIA CARDS EDE, SL, (hereinafter, “PECUNPAY”) with registered office at calle Guzmán el Bueno, 133, Edificio América, Bajo B , 28003-Madrid (SPAIN), holder of the NIF B-86972346, and registered in the Madrid Mercantile Registry, which is subject to the supervision of the Bank of Spain, also registered in the Official Registry of Electronic Money Institutions of the Bank of Spain, with number 6707, issuing entity of the cards associated with the virtual wallets of registered Users with European documentation, will deposit the User’s funds in a safeguarded account, where they will be safeguarded by PECUNPAY, for the execution of payment operations, keeping them in a bank account separate from their own funds, being the person responsible for its custody.

 

Commissions and limits.

 

The following fees and rates will apply to the Payment Services:

 

 

 

NATIONAL ECOSYSTEM

 

 

LITELITE+PREMIUM
Multi-currency walletFreeFreeFree
Transfer between UsersFreeFreeFree
Customer Support24h support24h support24h support (prioritary assistance)
Currency exchange5 %4,5 %3,5 %
Withdrawal of funds in EUR / USD3,5 %3.5%3%
Deposit of funds in EUR / USD2,5 %2,5 %2 %
Withdrawal of funds in VES2 %1,5 %1 %
Deposit of funds in VES2 %1,5 %1 %
Direct debit of payroll1,5 %1,5 %1,5 %
FREE4,99€ – $5,9924,99€ – $29,99

 

 

 

 

INTERNATIONAL ECOSYSTEM

 

LITELITE+PREMIUM
Multi-currency walletFreeFreeFree
Transfers between UsersFreeFreeFree
Customer Support24h support24h support24h support (prioritary assistance)
Currency exchange5 %4,5 %3,5 %
Card deposit (U.E.)FreeFreeFree
Deposit by card (outside the U.E.)3 % (Max 485€/$ weekly)2,5 % (Max 485€/$ weekly)2 % (Max 485€/$ weekly)
Deposit with SEPA transferFreeFreeFree
Deposit with SWIFT transfer1,5% (min 10 € fee)0,75% (min 10 € fee)0,25% (min 10 € fee)
Withdrawal with SEPA transferLimit: 1000€/month y 4000€/year (o 0,2%)Limit: up to 2000€/month y 10000€/year (o 0,15%)Unlimited
Withdrawal with SWIFT transfer1,5 % (min 30€ fee)0,75 % (min 25 € fee)0,25 % (min 25 € fee)
ATM withdrawalATM costATM costATM cost
SHASTA cardFree with 20€/$20 depositFreeFree
FREE4,99€ – $5,9924,99€ – $29,99

 

 

* 0.083% month of your paid monthly payroll.

 

* Currency exchange: The associated commission is included in the ratio offered at the time of currency exchange.

 

* Shasta Card Lite Deposit: In order to apply for the Shasta card, a minimum contribution of € 20 is required for the Lite subscription. Lite + and Premium do not require a contribution to the Shasta account.

 

The commissions, rates and service charges applicable to Exchange services will be those expressed in each Exchange operation in accordance with the provisions of clause 1.5 of these Terms of Use.

 

The following fees and rates will apply to the Payment Services for business entities:

 

 

 

BASICFULL
Multi-currency walletFreeFree
Transfer between UsersFreeFree
Intra-European Income (SEPA)FreeFree
Intra-European Outcome (SEPA)0,06%0,04%
International income (SWIFT)0,5% (Min. 30€/$ fee)0,25% (Min 25€/$ fee)
Customer Support24h / 7 with priority24h / 7 with priority
Currency exchange4%3%
Direct debit of payrollFreeFree
Cash withdrawal EUR / USD2%1%
EUR/USD electronic withdrawal2%1%
EUR / USD cash deposit2.5%2%
EUR / USD electronic deposit2.5%2%
Withdrawal of funds in VES1,5 %1%
Deposit of funds in VES2%1,50%
0,00€ / $0,0059,99€ / $69,99

 

 

 

* 0.083% month of your paid monthly payroll.

 

* Currency exchange: The associated commission is included in the ratio offered at the time of currency exchange.

 

The commissions, rates and service charges applicable to Exchange services will be those expressed in each Exchange operation in accordance with the provisions of clause 1.5 of these Terms of Use.

 

 

  • Exclusion of liability 

 

 

 

The availability of the Services may vary depending on the data signal of the User’s telephone and internet service provider.

 

 

 

To the extent permitted by law (and unless Shasta has entered into a separate written agreement that supersedes this Agreement), Shasta and its affiliates (and those who work with Shasta to provide the Services) will not be liable for any consequential damages, inherent, special, consequential or punitive, or by the loss of data signal of the telephone and internet service providers of the User, or by the loss of data, opportunities, reputation or profits or income related to the Services (such as statements offensive or defamatory, lost time, use or changes in the information or content of the User).

 

 

 

The responsibility of Shasta, its affiliates and of those who work with Shasta to provide the Services will not exceed in any case, once all the claims have been added, the amount that is less than: (a) five times the most recent commission that the User has paid for a paid service, if applicable, or (b) thousand euros. (€ 1,000).

 

This limitation of liability is part of the agreement between the User and Shasta, and will apply to all liability claims (such as warranty, damage, negligence, contract, law), even if this damage has been reported to Shasta and its affiliates, and even if these solutions do not remedy its essential purpose.

 

 

Suspension of accounts

 

 

 

Shasta may suspend the User’s Account in the following cases:

 

 

 

  1. a) When an unauthorized third party has had access to the Account as a result of improper storage or negligent disclosure of the access data to it by the User;

 

 

 

  1. c) When any User transaction is associated with any fraud or illegal activity, especially those related to drug trafficking, money laundering, financing of terrorism and financing of the proliferation of weapons of mass destruction.

 

 

 

  1. d) When Shasta detects the registration or attempted registration of more than one (1) Account that contains matching data.

 

 

 

  1. e) Breach by the User of the Terms and Conditions or of the applicable legislation;

 

 

 

Fortuitous event or cause majeure

 

 

 

It is expressly agreed that Shasta will not be responsible for breach of its obligations if it is impossible, restricted or interfered with for any period of time, due to unforeseeable circumstances, force majeure or events of third parties, especially in the event that the lack of operation or malfunction of the Services are due to failures beyond its control, including, without being limited, to failures of the electrical system, internet and other communication channels or failures of the User’s computer system as a result of the presence of viruses in the device used. by the User to access the Website and / or App, or security or navigation errors produced by a malfunction of the browser or by the use of outdated versions. Under no circumstances, in these cases, the User may demand from Shasta any compensation, damages for consequential damages, lost profits, moral damages or any other.

 

Termination of the contract

 

Both the User and Shasta may unilaterally terminate this Agreement at any time after notifying the other party.

 

 

 

For these purposes, in case the User wishes to close his Shasta Account, he must send an email to [email protected] and Shasta will process his request, once the pending transactions are completed. In this case, the User must withdraw the balance that he may have in his Shasta Account before the resolution or transfer the remaining funds to a bank account selected by the User.

 

 

 

Similarly, in the event that Shasta decides to close its Account unilaterally, it will notify the User of said resolution by email where it will also indicate its balance in favor (reduced the amounts owed to Shasta) on the termination date and will refund the same in a period not exceeding forty-eight (48) hours. The User agrees that Shasta will have no obligation to reveal the details and reasons for the closure of his Account and termination of the Contract.

 

 

 

The resolution of this Agreement will not exempt the User from the due fulfillment of his obligations with respect to Shasta that had arisen before the resolution. The Services initiated by virtue of the termination of this Agreement will be carried out in accordance with the provisions contained in this Agreement applicable prior to termination, unless Shasta and the User agree otherwise.

 

Third party agreements

 

 

 

The User understands and accepts that Shasta works with banking financial institutions and third-party service providers for the optimal execution of the Services. They may require Shasta to share your personal information, which Shasta agrees to share in compliance with the highest security standards and in accordance with its Privacy Policy, which is incorporated by reference into these Terms and Conditions and is available at the following link https://shasta.me/ve/politica-de-privacidad-ve/.

 

Data messages and electronic signatures

 

 

 

The User accepts that the use of electronic means of acceptance will have the same effectiveness as written documents as a way to express their consent to, among others, enter into this Contract, accept the Terms and Conditions in their entirety, as well as to send orders. and instructions through the App necessary for the provision of the Services.

 

 

 

Consequently, the sending of orders by the User and his compliance with the instructions issued by Shasta through the Website and / or App implies the authorization and acceptance by the User of the operation carried out.

 

 

 

Claims

 

 

 

In the event that the User wishes to make a claim derived from the use of the Website or the App, they must send it via email to [email protected]. Claims on transactions must be notified within a period of no more than five (5) days from the date on which the incident took place. Shasta will have a period of up to five (5) days to process the claim and respond to it to the User.

 

Intellectual Property

 

All the contents, as well as the brands, logos and texts used on the Website and in the App, are the property of Shasta. The use of the Website and App by the User does not involve the resignation, transmission or total or partial cession of the same, nor does it confer the right to use or reproduce them, without the prior and express authorization of Shasta, since Shasta reserves all its intellectual property rights related to the Website and the App. The unauthorized use of any of these will entail the responsibilities established in the applicable legislation.

 

Privacy and data protection

 

 

 

In order to facilitate navigation, the Website and the App use cookies. Said use is accepted by the User when accessing and using said platforms and understands that they constitute an instrument of the web page servers and applications that allows to store and retrieve data about its visitors.

 

 

 

All the personal information transmitted during the registration in the App and the provision of the Services is done through secure means that protect and encrypt the information that is stored on servers that maintain high security standards and comply with the requirements of the applicable legislation. Shasta treats all personal information provided by Users in accordance with its Privacy Policy.

 

 

 

Indemnity

 

 

 

The User will hold Shasta and its managers, representatives and workers harmless for any claim or demand from third parties for their activities on the Website and / or App, breach of these Terms and Conditions, Privacy Policy and other principles that are incorporated in these Terms and Conditions by reference.

 

Lack of compliance

 

 

 

Shasta’s failure to comply with any right or option granted in these Terms and Conditions or tolerance for delays in complying with the User’s obligations will not constitute a waiver of said rights or options, which may be fulfilled at any time.

 

Separability

 

 

 

If any stipulation, agreement, condition or provision of these Terms and Conditions, or if the application of the same in any of its parts or in any circumstance becomes null, invalid or ineffective, the remaining provisions will not be affected by such nullity, invalidity or ineffectiveness.

 

Confidentiality 

 

Users know and assume the strictest duty of confidentiality regarding the content and information to which they come to have access when enjoying the Services, committing themselves not to disclose it, either totally or partially to third parties without the prior written authorization of Shasta and the Users who could be affected in any way by said disclosure.

 

This obligation will remain in force after the termination of this Contract or of any of the Services provided for in this Contract for a period of no less than four (4) years, counted from the aforementioned termination.

 

 

 

Dispute Resolution, Applicable Law and Jurisdiction

 

 

 

In case of conflict between the User and Shasta and as long as they have not resolved it by mutual agreement within a period of fifteen (15) business days, the claims presented as established in clause 13, all and any claims, disputes, controversies and / or differences, whether or not they are contentious in nature, that arise on the occasion, relationship or as a consequence of this contract, including claims for illegal acts, or that derive from its interpretation, termination or invalidity, language and / or intention of the parties, as well as all and any controversies derived from the interpretation of the law or differences with respect to the jurisdiction and / or competence of the arbitral tribunal or its members, or the validity, scope or scope of this contract and / or of this arbitration clause (any of the above, a “Controversy”), will be resolved exclusively, definitively and excluding, through institutional arbitration of law, in accordance compliance with the laws of the Bolivarian Republic of Venezuela, in the city of Caracas, through an arbitral tribunal constituted and governed in accordance with the Regulations of the Business Center for Conciliation and Arbitration (CEDCA). The arbitral tribunal will be composed of three (3) arbitrators and the arbitration procedure will be conducted in Spanish. The arbitration award, which must be duly motivated and in writing, will be final and binding on the parties. With the conclusion of this arbitration clause, Shasta and the User express their unequivocal and express will to withdraw the knowledge of any eventual Controversy from the knowledge of the courts of ordinary jurisdiction.

 

Prevention of Money Laundering

 

 

 

The User understands and accepts that in faithful compliance with the applicable legislation related to the prevention of money laundering, terrorist financing and financing of the proliferation of weapons of mass destruction, Shasta is obliged to keep it in physical and digital form for a minimum of five (5) years, the documents or records of the operations and business relationships with the Users, as well as the identification documents requested at the time of registration in the App. Likewise, the User accepts that Shasta may require information on transactions carried out by the User in order to ensure the lawful origin and destination of the funds and that Shasta is under the obligation to detect and report unusual or suspicious activities regardless of their amount and collaborate in this regard with the competent authorities in order to provide the information that is required to prevent operations related to crimes s described above and any other illegal activity. In this sense, the User accepts that Shasta may delay transactions while conducting the relevant risk reviews. Likewise, you agree that Shasta may, at its discretion, refuse to process any transaction under evaluation and temporarily or indefinitely suspend the Shasta Account, thus blocking the available balance in the Virtual Wallet, until the investigation procedure is completed.

 

Addresses and notifications.

 

 

 

Shasta will send the User electronic communications regarding their Account, directly from the App, through text messages or emails. All electronic communications shall be deemed to be received by the User within forty-eight (48) hours from the moment Shasta has sent them. The User will have the obligation to keep the email and means of contact registered in the App updated.

 

 

 

No assignment 

 

The User may not transfer or assign the rights or obligations that he has under this Agreement, without the prior written consent of Shasta, however, Shasta may assign it without notice or restrictions.

 

 

 

 

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