Terms and Conditions of the Belfast Coins Programme

  1. Introduction

    • Who we are
  • Colu Technologies (GIB) Limited (“Colu” or “we/us”) is a company with limited liability incorporated in Gibraltar with incorporation number 116311 and whose registered office is at 57/63 Line Wall Road, Gibraltar. Our mailing address and office is situate at Unit 5.02 World Trade Centre, 6 Bayside Road, Gibraltar. We may be contacted at cs@colu.com.
  • Some of the Services provided by Colu are regulated activities in Gibraltar under the Financial Services (Electronic Money) Regulations 2011. Colu holds an Electronic E-Money Institution License under the Financial Services (Banking) Act 1992 (the “Act“) to issue electronic money (e-money) licence number FSC0065BNK, authorized and supervised by the Gibraltar Financial Services Commission (“GFSC”). Colu is also authorised to passport and to carry out its e-money services in the United Kingdom.

  • Colu is an e-money issuer offering its customer base (“User” or “Users“) easy-to-operate e-money In addition, we operate a reward scheme known as “Belfast Coins Programme“.

    • Overview of the Belfast Coin Programme
  • The Belfast Coins Programme enables our Users to receive and use virtual tokenised vouchers (“Belfast Coin” or “Belfast Coins”) that can be spent with participating merchants within the Belfast area that accept payments via the Colu mobile application (the “Colu App”) and are listed in the Belfast Community in the Colu App (“Merchants“). The Belfast Coins Programme is available to our Users via the Colu App to effect payments to Merchants.
  • Users may be issued, at Colu’s sole direction, Belfast Coins when carrying out certain activities and/or executing payments that have been pre-approved by Colu as payments and/or activities for which Belfast Coins will be granted (each a “Reward Activity” and collectively the “Reward Activities”). The Reward Activities will change from time to time, and Colu will announce which payments and/or activities constitute Reward Activities through the Colu App.
  • Please note that the Belfast Coins Programme is entirely discretionary and that, as such, Colu may terminate the Belfast Coins Programme at any time and also may at any time change the list of Reward Activities and their specific terms without prior notice, at Colu’s sole discretion. If we terminate the entire Belfast Coin Programme under this section 1.2, we may, at our sole discretion in addition cancel any Belfast Coins credited to a User account after giving the User 90 days’ notice of such cancellation.
  • Once issued, Belfast Coins can be spent, using the Colu App, to purchase goods and/or services from Merchants. One Belfast coin has a face value equivalent to one pound sterling (GBP) when it is being used in this way.
  • This document (the “BCP Terms”) sets out the terms and conditions governing the Belfast Coins Programme. Please note that the Belfast Coins Programme is only available to Users whom have read and agreed to the General Terms and Conditions [Belfast Users TOUs] (the “General Terms“) and that, as such, these BCP Terms are supplemental to the General Terms.
  • Except as otherwise expressly stated herein, the General Terms shall continue to apply to Users of the Belfast Coins and, more generally, in respect of the Belfast Coin Programme. Please note that the BCP Terms shall prevail over the General Terms where a conflict or inconsistency arises between the provisions set out under the General Terms and the BCP Terms, but only in respect of the Belfast Coins Programme or in connection with the use of the Belfast Coins.
  • AS SPECIFIED UNDER THE GENERAL TERMS, WHEN USERS ACCEPT THE GENERAL TERMS THEY ARE ALSO DEEMED TO ACCEPT THESE BCP TERMS.

We have the right to amend the BCP Terms at any time. We will notify you of any proposed material change to the BCP terms by sending an email to the email address you registered with us or by notifying you from within the Colu App. Any such proposed change will come into effect no later than the date set out in the change notice, and not earlier than 30 days prior to the effective date of the notice, unless the change make these Terms more favourable to you, in which case such change may be made by us immediately upon giving notice. If you are unhappy with the proposed changes, you should stop using the Colu APP and close your account with Colu before the changes come into effect. Your use of the Colu App following any amendment of these BCP Terms will signify your acceptance of the revised BCP Terms. The up to date, governing version of the BCP Terms will be the one presented in the Colu App at a given time.

  1. Nature and use of the Belfast Coins

  • Belfast Coins constitute virtual tokenised vouchers that are awarded to the Users through the Belfast Coins Programme in accordance with these BCP Terms, and which are designed for the sole purpose of effecting payments to Merchants through the Colu App.
  • Please note that some Belfast Coins may present and be subject to some features and/or conditions, such as but not limited to an expiry date (“Features”). Colu will notify the Users of any such Feature through the Colu App or via other means of communication which Colu may use from time to time to communicate with the Users.
  • PLEASE NOTE THAT BELFAST COINS ARE NOT E-MONEY NOR ANY OTHER TYPE OF REGULATED FINANCIAL PRODUCT AND, THEREFORE, ARE NOT SAFEGUARDED OR PROTECTED AS E-MONEY FUNDS. THE USE OF BELFAST COINS TO PAY FOR GOODS OR SERVICES DOES NOT CONSTITUTE A REGULATED PAYMENT SERVICE AND THE PROTECTIONS AVAILABLE TO CUSTOMERS UNDER GIBRALTAR’S FINANCIAL SERVICES (PAYMENT SERVICES) REGULATIONS 2018 DOES NOT APPLY TO ANY USE OF THE BELFAST COINS.
  • Users cannot convert Belfast Coins into pounds sterling (GBP) or any other currency or legal tender or redeemed them for cash. Additionally, Belfast Coins cannot be credited to a credit card or any other means of payment. Belfast Coins are intended for use within the Colu App only, they cannot be withdrawn on redeemed or otherwise transferred or used outside the Colu App.
  • If you pay for goods or services with the Colu App and subsequently return the goods or cancel the services (the “Canceled Services”), you agree that any and all Belfast Coins that were issued to you with respect to the Canceled Services shall be returned and/or deleted and/or removed from your account without notice and will not be available for any further use.
  • If you pay for goods or services with Belfast Coins and subsequently return the goods or cancel the services, you agree that any refund that is due to you shall be made in the form of re-crediting your Belfast Coin balance and not in cash or other means.
  • Your Belfast Coin balance and any right granted to the Users through the Belfast Coins Programme is personal and non-transferrable. As such, the Belfast Coins and/or any rights in them cannot be transferred or inherited.

  1. Using the Colu App for the Programme

  • A User’s Belfast Coins balance, as this may be from time to time, will be displayed separately from any e-money balance on the Colu App.
  • You may use your Belfast Coin balance to make payments (“BC Transaction” or “BC Transactions”) to Merchants. Users are only able to make BC Transaction through the Colu App and no card (including but not limited to debit cards, prepaid cards or any other form of card) is needed or provided to make BC Transactions. At present, Colu does not allow Users to make payments to Merchants by using the Belfast Coins balance and the e-money balance for the same transaction (“Combined Payments”). Nonetheless, going forward, Colu may at its sole discretion decide to provide Users with the ability to make Combined Payments.
  • Colu’s registers and ledgers shall constitute final and definitive evidence of the amount of Belfast Coins accumulated by a User, their usage and their remaining balance.

  1. Cancellation of Belfast Coins

  • Without prejudice to some Belfast Coins being subject to specific Features pursuant to clause 1.2 above (“NATURE AND USE OF THE BELFAST COIN”), Colu shall have the right but not the obligation to delete and remove all or any Belfast Coins from a User’s wallet where no BC Transaction or other Transaction has been made in the 90 days prior to Colu taking such action; If Colu chooses to exercise such a right, it will provide the User with at least 30 days‘ notice.
  • All Belfast Coins contained in a wallet which has been closed, cancelled or deleted, for any reason whatsoever, shall be cancelled and will not be available for any further use.
  1. Taxes
  • You shall be liable for determining, collecting, withholding, reporting and remitting to the appropriate tax authorities any taxes assessed, incurred, or required to be collected, paid, or withheld for any reason in connection with the grant of Belfast Coins from Colu to you.

  1. Our Liability

    • General Limitations on liability
  • To the maximum extent permitted by law, Colu shall not be liable for direct or indirect damages and losses or non-performance under the BCP Terms which result from:
  1. Colu’s compliance with any legal and/or regulatory requirements as these may be from time to time;
  2. any force majeure event;
  3. actions/omissions of any third party that may, from time to time, be involved in the Belfast Coin Programme (including Merchants and/or any other third party which Colu may advertise on the Colu App or its website from time to time); and
  4. any breach by any User, whether such a breach relates to the BCP Terms, the General Terms or any other legal and/or legal or regulatory requirements that the User may be subject to from time to time.
  • Nothing in the BCP Terms shall exclude our liability for any statutory liability that cannot be excluded or amended by agreement between the parties.

  1. Your liability

  • A User shall be responsible for any loss to the User’s Belfast Coin balance in respect of an unauthorised BC Transaction if the User has:

    • acted fraudulently; or

    • have intentionally or with negligence failed to:

      • look after and use the security details in accordance with these BCP Terms or the General Terms; or
      • notify us of the problem in accordance with the General Terms.

  1. Third Party Relations

  • We are not a party to the legal relationship between the Users and the Merchants, and we assume no liability whatsoever relating to the underlying purpose of any BC Transactions, including, but not limited to, the quality and nature of the goods and services provided, the sale price, discounts, and warranty conditions.

  1. Term, Suspension, Termination

    • Term

  • The BCP Terms is an agreement to which Users subscribe automatically by virtue of accepting the General Terms. The BCP Terms shall constitute a valid and enforceable agreement until terminated in accordance with the terms herein, or until the General Terms are terminated in accordance with the terms there.

    • Our right to terminate
      • No fault termination

    • Without prejudice to our general right to terminate the Belfast Coins Programme at any time, we may in our sole discretion suspend or terminate User/s access to the Belfast Coins Programme. Colu will provide 10 days’ notice before terminating User/s access to the Belfast Coins Programme.

      • Please note that such a termination shall not of itself prevent your using any Belfast Coins already credited to your account.

    • Termination for cause

      • We may also suspend or terminate and close a User’s right to access to the Belfast Coins Programme with or without prior notice when:
      • Colu or the User are entitled to and do terminate the User’s e-money account on the Colu App;
      • the User breaches any condition set out under the BCP Terms or the General Terms as they may be from time to time;
      • the User violates or we have reason to believe that the User is in violation of any law or regulation that is applicate to the usage of the Colu App, the Services or the BCP;
      • Colu has reason to believe that the User is in any way involved in a fraudulent activity, money laundering, terrorism financing or any other type of criminal activity;
      • the User poses an unacceptable fraud risk to us; or
      • the User’s account on the Colu App is inactive for six (6) consecutive months.

Please note that when we terminate Users’ access to the Belfast Coin Programme under this paragraph (b) we may also, at our sole discretion, cancel any Belfast Coins credited to your account.

  1. Assignment

  • We shall be entitled to freely assign our rights and to novate our obligations under these Terms to any affiliate or successor to Colu and/or to a purchaser or acquirer of the business assets relating to the services provided by Colu and your consent for such assignment and obligation shall be considered as granted by virtue of these Terms.
  • You may not assign any of your rights and obligations under these Terms to third parties without our prior written consent.

  1. Governing Law etc.

    • Governing law
    • These BCP Terms and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with them or their subject matter or formation shall be governed by and construed in accordance with the laws of Gibraltar, without regard to conflict of law rules that would cause the application of the laws of any other jurisdiction.
    • You and Colu irrevocably agree the courts of Gibraltar shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with these BCP Terms, their subject matter or formation.

Last update: September 5, 2019