These Terms of Service (“Terms”) constitute a legally binding agreement between you, whether personally or on behalf of an entity (“User” or “you”), and Colonpay (“we,” “us,” or “our”) concerning your access to and use of the Colonpay website and all related services (collectively, the “Services”). By accessing or using the Services, you confirm that you have read, understood, and agree to be bound by all of these Terms.
2.1. Eligibility: You must be at least 18 years of age or the age of legal majority in your jurisdiction to use the Services. You must also satisfy our Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
2.2. Account Security: You are responsible for maintaining the confidentiality of your account credentials, including your password and API keys. You must notify Colonpay immediately of any unauthorized use or security breach. Colonpay will not be liable for any loss or damage arising from your failure to comply with this security obligation. and Colonpay (“we,” “us,” or “our”) concerning your access to and use of the Colonpay website and all related services (collectively, the “Services”). By accessing or using the Services, you confirm that you have read, understood, and agree to be bound by all of these Terms.
Colonpay is a Payment Service Provider and Facilitator, NOT a Bank. We provide technology that enables businesses to accept payments and manage financial transactions. We do not hold funds in a banking capacity and are not covered by deposit insurance schemes.
Our Services include:
4.1. Fees: You agree to pay the transaction fees and other charges for the Services as detailed on our Pricing Page or as otherwise agreed upon in writing. All fees are exclusive of applicable taxes, which you are responsible for paying.
4.2. Fee Changes: We reserve the right to change our fees at any time. We will provide you with prior notice (typically 30 days) of any increase in fees or introduction of new fees. Your continued use of the Services after the fee change constitutes acceptance of the new fees.
You may only use the Services for legal purposes and in accordance with these Terms. Prohibited activities include, but are not limited to:
6.1. Indemnification: You agree to indemnify, defend, and hold harmless Colonpay and its affiliates, officers, agents, and employees from any claim, demand, loss, liability, or expense (including attorneys’ fees) arising out of or related to your breach of these Terms, your misuse of the Services, or your violation of any law or the rights of a third party.
6.2. Limitation of Liability: To the maximum extent permitted by law, Colonpay shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or goodwill, arising out of your use of the Services, even if we have been advised of the possibility of such damages.
We may terminate or suspend your account and access to the Services immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms or if required by law or our payment partners.
These Terms are governed by the laws of Government of India, without regard to its conflict of law principles. Any legal action or proceeding arising under these Terms will be brought exclusively in the courts located in Mumbai Jurisdiction.