QR payments

Terms and conditions

QR payments

These terms and conditions ("Terms and Conditions") describe the conditions of use of the QR payment product ("QR payment"), which allows merchant Users ("The Merchant") to offer consumer Users ("Consumer"), together referred to as the "Users"," to make payments for products and/or services of EL Comercio by reading the QR Code offered by El Dorado (the "Service").

The use of the Service implies the express acceptance of El Dorado's General Terms and Conditions of Use, as modified by these Conditions of Use. Any aspect not regulated in these terms and conditions will be subject to the provisions of the General Terms and Conditions of El Dorado.

1- What does the service consist of?

The Service will allow Users to receive or make payments for goods and/or services offered by the Merchant by reading QR Codes available in their account at El Dorado. To make the payment, the Consumer must scan said QR Code to directly connect them to transfer the amount they must pay to acquire the good or service.

The Merchant must print or display from its mobile application the QR Code in its Account, which can be found when entering its profile or from the free send option through El Dorado Pay, so that the Consumer can scan the Merchant's QR Code with their cell phone from the El Dorado Application and enter the amount to be paid. The Merchant may also configure the QR code with the specific amount to be paid so that the Consumer scans the QR Code and the amount to be paid is preconfigured.

If the consumer does not have funds in his El Dorado wallet, the operation will be rejected by El Dorado without any liability on the part of El Dorado, releasing the Consumer from any claim or damage that may arise due to the lack of funds.

The Merchant will have a receipt of the transaction once it is successfully completed. The receipt will contain the amount received, the status, the Consumer user who sent the stablecoins, the date of the transaction, and the description of the transaction.

2- QR Code Generation

To use the QR Code, Users must:

a. Download the El Dorado App.
b. Have a User Account.
c. Generate a QR code from the El Dorado mobile app.

3- Collection and payment operations with QR Code:

3.1. Collection and payment for the sale of goods and/or provision of services

Users expressly accept and agree to comply with the general terms and conditions applicable to El Dorado, as well as to any relationship between the Merchant and the Consumer and understand that the exchange relationship between stable cryptocurrencies and the goods and services offered is direct, with El Dorado being only a facilitator.

El Dorado will not be liable under any circumstances for errors made by the Consumer when verifying the payment amount. It is the Consumer's sole responsibility to verify the amount to be sent through El Dorado Pay and the username to which the Consumer is sending the payment. If the Consumer sends an incorrect amount, both users must find a direct settlement method without El Dorado intervening.

3.2. Periods for accreditation and settlement of the Funds

Stablecoins derived from QR Code payment transactions will be available immediately in the Merchant's Dorado Account.

4- Rates

El Dorado reserves the right to charge a fee for payment facilitation services, for which the applicable fee will be disclosed in this document and at the time of the transaction.

5- QR Code Communication

The Merchant must place the QR Code in a visible place, preferably next to the cash register so that Consumers can scan it. Likewise, it must place in visible places, including at the entrance of the establishment, if applicable, communications indicating that payments made to third parties who fraudulently attempt to offer QR codes other than the one located next to the cash register will not be valid.

6- Policy on correct use of trademarks and intellectual property

El Dorado is the owner of the intellectual property rights made available to the User for the provision of the Service.

In the dissemination, promotion and use of the QR Code, the Merchant is obliged to use only those logos, banners and other promotional material that El Dorado provides. The Merchant shall refrain from using banners or logos designed by itself and/or third parties, as well as any other promotional material using the intellectual rights of El Dorado, without prior written authorization from El Dorado.
The use of the Service by the User shall in no case imply the transfer of any of said intellectual property rights in favor of the User.

7- User Responsibility

Users are solely and exclusively responsible for the use of the Service, including any damages arising therefrom.

The Merchant expressly accepts and undertakes to use the QR Code only for the purpose of (i) receiving payments for the sale of goods and/or the provision of services offered or marketed by it. For its part, the Consumer expressly accepts and undertakes to use the QR Code only for the purpose of (i) making payments for goods and/or services purchased or contracted by it. Users assume the obligation not to use the QR Code for purposes other than those provided for in these Terms of Use.

El Comercio is the sole and exclusive party responsible for its activity, whether commercial, professional, services, work, content, goods or services offered, both in physical and online stores, which may not be within any of the prohibited areas of activity in accordance with the Terms and Conditions of Use of El Dorado.

The Consumer may not use the QR Code to purchase or contract any of the goods or services prohibited in accordance with the Terms and Conditions of El Dorado.

The User undertakes to comply with the applicable laws and regulations, and with the rules for use of the QR Code that El Dorado issues at any time.

Users will be responsible for any tax or fiscal charges arising from the use of the Service. El Dorado is not obligated to issue receipts or invoices of any kind for transactions carried out.

8- El Dorado Declarations

8.1 In no event will El Dorado be liable for loss of profits, or for any other damage and/or loss that Users may have suffered, due to transactions carried out or not carried out through the Service.

8.2 Users' access to the QR Code reader depends on third-party services (such as, among others, internet and mobile data services). The User accepts that El Dorado has no responsibility related to the fulfillment of the aforementioned third-party services. In particular, the User accepts that the Internet connection necessary for the operation of the QR Code reader is the sole responsibility of the User.

8.3 El Dorado assumes no obligation to maintain the QR Code reader in usable condition for all operating environments, including, but not limited to, interoperability with all current and/or future versions of software or hardware.

8.4 El Dorado is not responsible for any damages suffered by the User or any third party as a result of improper and/or unauthorized use of the QR Code. In the event that any third party initiates any type of claim or legal, administrative or extrajudicial action against El Dorado, its shareholders, controlling companies, controlled companies, affiliates or subsidiaries, officers, employees, directors, agents and employees, derived from the use of the QR Code by the User, the User undertakes to hold El Dorado and its shareholders, controlling companies, controlled companies, affiliates or subsidiaries, officers, employees, directors, agents, representatives and attorneys harmless. The User expressly accepts that El Dorado may debit from the Funds in his/her Account (existing or entered in the future) any amount owed by the User as compensation for damages, waiving any claim against El Dorado.

9- Modification of the Conditions of Use of the QR Code.

El Dorado may modify the QR Code Terms of Use at any time, notifying the User of the changes by publishing an updated version of said terms and conditions on the site stating the date of the last modification. All modified terms will enter into force 5 (five) business days after their publication.

10- Jurisdiction and applicable law

This agreement shall be governed in all its points by the laws in force in the Republic of El Salvador. Any dispute arising from this agreement, its existence, validity, interpretation, scope or compliance, shall be submitted to the national commercial courts based in the City of San Salvador, with express waiver of any other jurisdiction.

11- El Dorado as a payment service provider

El Dorado offers payment services and is not authorized to operate as a financial institution. El Dorado does not provide the User with any banking services. The funds deposited in the account do not constitute deposits in a financial institution, nor do they have any of the guarantees that such deposits may enjoy in accordance with the applicable legislation and regulations regarding deposits in financial institutions.

12- Processing of Personal Data

The provisions of the general terms and conditions of use of El Dorado shall apply in this regard.

Modification date: February 10, 2025

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