Merchant Terms of Service

Gloebit Developer Partner and Merchant Services Agreement

Gloebit Developer Partner and Merchant Services Agreement

Thank you for your interest in the Gloebit Merchant Services. This agreement spells out our community standards, expectations and requirements for all of our developer and merchant partners. Once you agree to abide by this agreement, we will review your request for access to our Merchant Services. We look forward to adding you as our newest Gloebit partner.

  • Table of contents

  • Terms and Conditions of Service

    This Developer Partner and Merchant Service Agreement (“Agreement” or “Merchant Agreement” or “Partner Agreement”) is a contract between You and Gloebit LLC and applies to Your use of Gloebit and any related products, services and Merchant Services (collectively the “Gloebit System”). This Agreement affects Your rights and You should read it and consider it carefully when choosing whether to use the Gloebit System. We encourage You to print the Agreement or copy it to Your computer’s hard drive for Your reference. For additional information about the Gloebit System and how it works, please consult Our website at www.gloebit.com.

    By clicking “I Agree,” “I Accept,” or by applying for the Merchant Services through our online application process, integrating any Gloebit APIs into your software, submitting any requests or data to Gloebit via any Gloebit APIs, accessing any Gloebit Merchant Services or tools, accepting Gloebits into to your account as part of a transaction in return for goods or services delivered, placing any Gloebits for sale, or requesting a cashout of proceeds from sales of Gloebits into any real world currency, You acknowledge that You have read, understood, and agree to be bound by the terms and conditions of this Agreement, the Gloebit Privacy Policy, the Gloebit User Terms of Service, and any documents incorporated by reference. You further agree that this Agreement forms a legally-binding contract between You and Gloebit LLC and that this Agreement constitutes “a writing signed by You” under any applicable law or regulation. Any rights not expressly granted herein are reserved by Gloebit LLC. This Agreement contains a binding arbitration provision, which affects your legal rights and will be enforced by the parties.

    This Agreement may be modified by Gloebit, for any reason, without prior notice (unless prior notice is required by law), by posting the revised Agreement on the Gloebit website. If at any time You do not agree to those terms and conditions, You must immediately cease Your use of the Gloebit System.

  • Definitions

    The following capitalized terms shall have the indicated meanings:

    • “Gloebit LLC.,” or “Gloebit” or “Us” or “We” or “Our” refers to Gloebit LLC, a limited liability company organized under the laws of California that provides, maintains and operates the Gloebit System for Gloebit Users and Gloebit Partners.

    • “Gloebit System” means software owned by Gloebit; provided to Gloebit Users and Gloebit Partners by Gloebit; or used by Gloebit in the provision of its services.

    • “Gloebit Merchant Services” or “Merchant Services” or “Services” means any and all services provided to merchants and developer partners in order to integrate with and make use of the Gloebit System including, but not limited to, functionality on the Gloebit website where Gloebits can be placed for sale and Merchant Details can be updated, linking accounts, requesting balances, requesting transactions, identity and entitlements.

    • “Gloebit User” or “User” means a natural person, corporation or other entity that has established a User Account on the Gloebit System.

    • “Gloebit Partner,” “Partner,” “You” or “Your” means a natural person, corporation or other entity that Gloebit does business with in order to bring the Gloebit System to the marketplace.

    • “User Account” is the online account with Gloebit on the Gloebit System associated with a Gloebit User.

    • “Gloebit Balance” means the User Account parameter detailing the number of Gloebits a User Account possesses.

    • “Gloebits” means valueless, digital tokens, the purchase, ownership and transfer of which are facilitated by the Gloebit System.

    • “Gloebit Payment Processors” or “Payment Processors” means entities and service providers and systems integrated with the Gloebit System to provide Users the ability to purchase Gloebits via Payment Methods.

    • “Gloebit Payment Methods” or “Payment Methods” means the methods made available for the User to pay online for products and services, such as credit cards, debit cards, or bank accounts.

    • “Gloebit Cash Out Processors” or “Cash Out Processors” means entities and service providers and systems integrated with the Gloebit System to provide Partners the ability to transfer proceeds from the sale of Gloebits to an account outside of the Gloebit System.

    • “Gloebit APIs” or “Gloebit SDKs” or “Gloebit Plugins” means interfaces, connection points and associated software made accessible to Partners in order to make use of the Gloebit Service.

    • “Merchant Credentials” means the information provided with calls made through the Gloebit APIs or with any requests made from a Partner to Gloebit and used in order to gain access to the Gloebit APIs and to identify the Partner making the request.

    • “Merchant Details” means any information about Yourself or Your product, including information supplied at the time You request to be a merchant and information made editable from the merchant tools section of the Gloebit Website.

  • General

    Gloebit provides a software platform which allows You as a developer partner to link accounts in Your product to Gloebit User Accounts, retrieve balances for linked User Accounts and request transactions on behalf of linked User Accounts, and as a merchant to receive Gloebits into Your User Account in return for delivering products and/or services and to sell Gloebits.

    You understand and agree to these important features of Your relationship with Gloebit as a Gloebit Developer Partner and/or Gloebit Merchant:

    1. You will not take any action in Your consumption of the Gloebit APIs or data provided by Gloebit in any way that violates any Gloebit policy, including the Gloebit Privacy Policy, Gloebit User Terms of Service, and this Agreement.

    2. Gloebit provides any approved merchant with unique Merchant Credentials allowing identification of that merchant through Our APIs. You will not share Your Merchant Credentials with any other party or entity, nor will You use those Merchant Credentials to gain API access for a business or purpose other than that described in the merchant submission form and merchant account information for which the Merchant Credentials were provided. If You believe Your Merchant Credentials have been compromised, used by a party or entity which is not Yourself, or used for a purpose which is outside the scope for which Your Merchant Credentials were granted, You will immediately notify Gloebit and take any necessary action to halt such activity.

    3. Gloebits are valueless tokens. Neither Gloebit nor any User or Partner within the Gloebit System has any requirement to redeem Gloebits for any real-world currency at any time.

    4. Sale of Gloebits, while facilitated by Gloebit, is to consumers with speed determined by consumer demand.

  • Complimentary to Other Gloebit Agreements

    You understand and agree that the terms of this Agreement are in addition to and not in replacement of the terms of all other Gloebit Agreements. These include, but are not limited to the Gloebit Privacy Policy and Gloebit User Terms of Service. For emphasis, some terms are duplicated within this Agreements. You are bound by all terms, whether duplicated or not. Lack of duplication is not intended to signify removal of requirements. If You believe that any terms within an agreement or across agreements conflict, You will immediately inform Gloebit. Lack of reporting of such believed conflict will be accepted as agreement to abide by Gloebit’s discretion as to precedence or meaning for any given dispute for which such perceived conflict could have an impact.

  • Representation

    Gloebit acts on Your behalf by maintaining records related to Your User Account and by sending information and instructions associated with Your User Account to Users, Partners, Payment Processors, and Cash Out Processors. You understand and agree that:

    1. You are responsible for the accuracy and validity of all Merchant Details provided to Gloebit and therefore to any Partners, Payment Processors, or Cash Out Processors.

    2. Your failure to provide accurate and valid Merchant Details may result in actions taken against Your User Account by Gloebit, actions taken by Partners, actions taken by Payment Processors, actions taken by Cash Out Processors, or other penalties or actions as detailed in this Agreement.

    3. Gloebit is not responsible for incorrect or invalid Merchant Details provided by You through the Gloebit System to Users, Partners, Payment Processors, Cash Out Processors or anyone.

  • Explicit Authorizations

    Identity Authentication Authorization:
    You authorize Gloebit, directly or through third parties, to make any inquiries We consider necessary to validate Your identity. This may include asking You for further information, requiring You to provide Your date of birth, a taxpayer identification number and other information that will allow Us to reasonably identify You, requiring You to take steps to confirm ownership of Your email address or financial instruments, ordering a credit report, or verifying Your information against third-party databases or through other sources. We may also ask to see Your driver’s license or other identifying documents at any time.

    Credit Report Authorization:
    You authorize Gloebit, in accordance with the Fair Credit Reporting Act, to obtain your personal and/or business credit report from a credit bureau both now and whenever Gloebit reasonably deems necessary and relevant in the future.

  • User Account Merchant Credentials

    You understand and agree to take all necessary steps to protect Your User Account Merchant Credentials including the following:

    • Your Merchant Credentials will be unique to Gloebit and will not be used on any other site or with any other service.

    • You will keep your Merchant Credentials secret.

    • You will not share Your Merchant Credentials with any other person, business or entity.

    • In the case where any other person, business or entity may have gained access to your Merchant Credentials, You will immediately update Your Merchant Credentials and will examine Your Account for and immediately report any fraudulent transactions. You are responsible for all activity on Your User Account.

    Gloebit will never ask for Your Merchant Credentials. You agree Gloebit carries no liability for losses or problems that may arise due to Your sharing of Your Merchant Credentials or any other private information with other people, businesses, or entitles.

  • Merchant Conduct and Obligations

    You understand and agree that you will not engage in the following activities:

    • Breach of this Agreement, the User Terms of Service, or any other agreement or policy that You have agreed to with Gloebit.

    • Violation of any law, statute, ordinance, or regulation (for example, those governing consumer protections or false advertising).

    • Infringing Gloebit’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy.

    • Transfer or sale of Merchant Credentials associated with a User Account to anyone who is not the owner and creator of said User Account or an authorized agent acting on behalf of said User Account and bound by all agreements.

    • Sharing or publication of Merchant Credentials associated with a User Account to anyone who is not the owner and creator of said User Account or an authorized agent acting on behalf of said User Account and bound by all Gloebit agreements.

    • Any attempt to access or use Merchant Credentials which are not Your own.

    • Any attempt to hide or alter the location from which You run Your business or provide services or products in any way which could affect regulations or controls put in place by Gloebit, any Gloebit Partner, Payment Processor, Cash Out Processor, or any governmental agency or regulatory body.

    • Falsification of Your Merchant Details or providing any false, inaccurate or misleading information.

    • Any attempt to falsify, obfuscate or conceal Your identity in any way which could affect regulations or controls put in place by Gloebit, any Gloebit Partner, Payment Processor, Cash Out Processor, or any governmental agency or regulatory body.

    • Association of Your User Account or the attempted cash out of Your User Account to any account outside the Gloebit System which is not Your property or to which You do not have the legal right to use for such purpose.

    • Any attempt or involvement in an attempt to misuse any service provided by Gloebit, any Gloebit Payment Processor, any Gloebit Cash Out Processor or any Gloebit Partner.

    • Use the Gloebit System in association with or to receive payment for illegal goods or services, including, but not limited to, illegal substances, counterfeit goods, illegal online gambling/ wagering, pyramid schemes, or any type of money laundering.

    • Use of the Gloebit System to provide cash or its equivalent to Your customers, Yourself, or anyone else in any way that could be conceived as money transmission, money laundering or a cash advance from a credit card.

    • Using the Gloebit System to test credit card behaviors.

    • Use of lewd, vulgar or explicit language or imagery in any information in Your Merchant Details.

    • Permitting others to use information obtained through the use of the Gloebit System for any purpose other than in conjunction with the Gloebit System and in a manner described in the documentation for the Gloebit System.

    • Receiving Gloebits for deposit or anything not in return for products or services provided within the application which integrates with Gloebit.

    • Receiving what You know or reasonably suspect to be fraudulent funds or designing a product offering which You reasonably suspect to attract fraudulent funds.

    • Taking any action that imposes an unreasonable or disproportionately large load on Our infrastructure.

    • Facilitating any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information.

    • Taking any action that may cause Us to lose any of the services from Our internet service providers, Payment Processors, Cash Out Processors, or other suppliers.

    • Circumventing any Gloebit policy or determinations about Your Account such as temporary or indefinite suspensions or other account holds, limitations or restrictions, including, but not limited to, attempting to create new or additional Gloebit account(s), creating new or additional Gloebit accounts using information that is not Your own, or using someone else’s Gloebit account.

    You understand and agree that:

    • You will secure Your Merchant Credentials to the best of Your ability, including, but not limited to, following all of the guidelines stated in the User Account Merchant Credentials section of this Agreement.

    • You are solely responsible for establishing, hosting and maintenance of Your web site and its connection to the internet, fulfilling all orders for products and services sold to Users including without limitation transmitting Your Merchant Credentials and transaction data to Gloebit servers and ensuring that any data stored or transmitted in conjunction with the Gloebit System and for enrollment in the Gloebit Merchant Services is accurate, complete and in the form as requested by Gloebit, is securely collected and is not corrupted due to Your systems.

    • You will review the transactions in Your account on a regular basis and notify Gloebit promptly of suspected unauthorized activity.

    • You will maintain commercially-reasonable business practices in conjunction with use of the Gloebit System, collecting, storing and transmitting its customer data in a secure manner and protecting the privacy of its customer data. You shall comply with Gloebit’s requests for reasonable action on Your part, to the extent necessary, to maintain security and integrity of the Gloebit System.

    • You will update to the most current software version and security updates and patches necessary to properly operate the Services provided by Gloebit.

    • You will keep all Merchant Details current and updated.

    • You will use the Services provided by Gloebit in accordance with the applicable user guides and other documentation.

    • You will deliver a product or service in return for any Gloebit transaction and that product or service will relate to the computer application from which the transaction request was made.

    • You will comply with all applicable laws, statutes, ordinances, regulations and privacy guidelines.

  • Actions Against Your User Account due to Non-Compliance with This Agreement or Security Concerns

    You understand and agree that You may not be able to access Gloebits, Information, funds, or any other assets held in Your Gloebit User Account or any associated accounts held with Gloebit Partners if Your User Account is closed, suspended, has a hold placed on it, or is otherwise limited, as detailed in this section.

    You understand and agree that Gloebit is not responsible for any losses or liability resulting from actions taken against Your User Account as detailed in this section.

    You understand and agree that the decision by Gloebit to take certain actions, including placing holds on or limiting access to Your User Account or suspending or terminating access to Merchant Services may be based on confidential criteria that are essential to risk management or security concerns. You understand and agree that neither Gloebit nor any Gloebit Partner nor any third-party service which Gloebit makes use of, nor any Payment Processor, nor any Cash Out Processor is under any obligation to disclose the details of its risk management or its security procedures to You.

    You understand and agree that Gloebit is authorized, pursuant to general parameters of conduct established by Gloebit, to take any or all of the following actions due to User misconduct or Security Concerns as detailed in this section:

    • Place a hold on Your User Account for up to ninety (90) days;

    • Temporarily or permanently suspend or otherwise limit Your access to Your User Account;

    • Temporarily or permanently suspend or otherwise limit Your access to Merchant Services;

    • Contact Partners from whom You have purchased goods or services or which is associated with Your Gloebit account, contact Users who have purchased goods or services from You, contact Your bank, credit card issuer or any Payment Processor or institution associated with a Payment Method linked to or used by Our account, contact any Cash Out Processor or institution associated with any account outside of the Gloebit System to which You have linked Your Gloebit Account or transferred funds, and/or warn other Users, law enforcement, or impacted third parties of Your actions; or

    • Take legal action against You.

    If Gloebit, acting in accordance with the general parameters of conduct established by Gloebit, Gloebit Partners, third parties providing services to Gloebit, Payment Processors, and Cash Out Processors, takes an action against Your User Account, including: placing a hold on, suspending or otherwise limiting Your access to, or terminating Your User Account, or suspending, limiting, or terminating access to Merchant Services, We will provide You with notice that such action has been taken against Your User Account. Gloebit may also provide the opportunity to request restoration of access if it is deemed appropriate by Gloebit acting in accordance with the general parameters of conduct established by Gloebit, Gloebit Partners, third parties providing services to Gloebit, Payment Processors, and Cash Out Processors.

    User Misconduct or Security Concerns that may result in any of the above listed actions, as applicable, include:

    • Your Non-compliance with this Agreement, including attempting to use the Gloebit system for illegal purposes or attempting to falsify Your identity or provide false information;

    • Inability of Gloebit to acquire sufficient information to verify Your identity if and when identity verification is deemed necessary;

    • A determination by Gloebit, pursuant to general parameters of conduct established by Gloebit, that a Hold on Your User Account is reasonably needed to protect against the risk of liability; or

    • A determination by Gloebit, pursuant to general parameters of conduct established by Gloebit, Gloebit Partners, third parties providing services to Gloebit, and Payment Processors that there may be a high level of risk associated with You, Your User Account, or other Gloebit users or Partners who have transacted with You or Your User Account.

  • Proprietary Rights

    Except as otherwise set forth herein, all right, title and interest in and to all, (i) registered and unregistered trademarks, service marks and logos; (ii) patents, patent applications, and patentable ideas, inventions, and/or improvements; (iii) trade secrets, proprietary information, and know-how; (iv) all divisions, continuations, reissues, renewals, and extensions thereof now existing or hereafter filed, issued, or acquired; (v) registered and unregistered copyrights including, without limitation, any forms, images, audiovisual displays, text, software and (vi) all other intellectual property, proprietary rights or other rights related to intangible property which are used, developed, comprising, embodied in, or practiced in connection with any of the services identified herein ("Gloebit Intellectual Property Rights") are owned by Gloebit or its licensors, and You agree to make no claim of interest in or ownership of any such Gloebit Intellectual Property Rights. You acknowledge that no title to the Gloebit Intellectual Property Rights is transferred to You, and that You do not obtain any rights, express or implied, in the Gloebit or its licensors' service, other than the rights expressly granted in this Agreement. To the extent that You create any Derivative Work (any work that is based upon one or more preexisting versions of a work provided to You, such as an enhancement or modification, revision, translation, abridgement, condensation, expansion, collection, compilation or any other form in which such preexisting works may be recast, transformed or adapted) such Derivative Work shall be owned by Gloebit and all existing and future copyright and other right, title and interest in and to each such Derivative Work, are assigned to, and shall automatically vest in, Gloebit. Gloebit shall have no obligation to grant You any right in any such Derivative Work. Except to the extent permitted by applicable law, You shall not disassemble, decompile, decrypt, extract, reverse engineer, prepare a derivative work based upon, distribute, or time share the services or any components thereof, or otherwise apply any procedure or process to the services or components thereof in order to ascertain, derive, and/or appropriate for any reason or purpose, the source code or source listings or any algorithm, data, process, procedure or other information contained therein. You shall not rent, sell, resell, lease, sublicense, loan or otherwise transfer the services or components thereof.

  • Gloebit Services and Modification

    Subject to the terms in this Agreement, Gloebit agrees to provide to You the Merchant Services for which You enroll and pay the applicable fees. Gloebit hereby grants to You the right to access and use the Merchant Services in accordance with the Agreement.

    Except as otherwise provided in this Agreement, You agree that Gloebit may: (1) revise the terms and conditions of this Agreement, including without limitation modifying the service fees or payment terms; and/or (2) change part of the Merchant Services provided under this Agreement at any time. Any such revision or change will be binding and effective either, at Gloebit's sole discretion, upon posting of the revised Agreement or change to the Services on the Gloebit web site, or upon electronic or written notification to You. You agree to periodically review the Gloebit web site, including the current version of this Agreement available, to be aware of any such revisions. By continuing to use Gloebit Merchant Services after any revision to this Agreement or change in Services, You agree to abide by and be bound by any such revisions or changes.

  • Linking Accounts

    Gloebit provides functionality for a Gloebit User to approve linking of that User’s Gloebit account to an account which that User controls within Your application.

    You understand and agree that You will not:

    • Make use of any access token to link that User’s Gloebit Account to any account other than the account which the Gloebit User explicitly approved.

    You understand and agree that You will:

    • Implement and maintain reasonable security standards for Your application before allowing any Gloebit User to link a Gloebit account to an account in Your application. You understand that You will be liable for unauthorized transactions and other damages resulting from a security breach.

    • Enforce reasonable password or other access requirements for an account in Your application before allowing that account to be linked to a Gloebit Account. You understand that You may be liable for unauthorized transactions and other damages resulting from unauthorized access to an account on Your system.

    • Immediately notify Gloebit if there has been a breach of security affecting any accounts in Your application which were linked to Gloebit accounts at the time of said breach or were linked between the time the breach occurred and the breach was detected and fixed.

  • Requesting a User's Balance

    Gloebit provides functionality to request the Gloebit Balance for a Gloebit User who has approved the linking of that User’s Gloebit Account to an account in Your application.

    You understand and agree that You will not:

    • Request a Gloebit Balance for any activity other than displaying that balance to the User from within Your application, or for providing necessary and normal functionality within the application or purchase flow within the application.

    • Provide a User’s Gloebit Balance to another party without explicit permission from the User or from Gloebit.

    • Publish a User’s Gloebit Balance without explicit permission from the User or from Gloebit.

    You understand and agree that You will:

    • Implement and maintain reasonable security standards to ensure the privacy of Gloebit Balances.

    • Immediately notify Gloebit of any breach, or suspected breach which may have compromised the privacy of any Gloebit User’s Gloebit Balance.

  • Requesting a Transaction

    Gloebit provides functionality to request transactions on behalf of Gloebit Users who have approved the linking of their Gloebit User Accounts to accounts within Your application.

    You understand and agree that You will not:

    • Request a transaction on behalf of a user unless that user has approved or requested that transaction through Your application..

    • Request a transaction for a different amount than the User reasonably expects or has approved.

    • Request a transaction which is not in return for delivering a product or service.

    • Request a transaction for a product or service which is not related to the business described in Your Merchant Details and the request You submitted to become a Gloebit Partner.

    • Request a transaction for any illegal product or service.

    You understand and agree that You will:

    • Clearly display the price for any product or service which a User may purchase from You.

    • Immediately refund a User and notify that User and Gloebit if You have accidentally processed a transaction which that User did not request.

    • Immediately refund a User if the expected product or service for which the User requested the transaction was not delivered or was not reasonably what was expected by the User.

    • Immediately deliver the product or service to a User upon successful transfer of Gloebits or clearly explain the delivery estimate prior to the User requesting the transaction if delivery is of any product or service will not occur immediately upon successful transfer of Gloebits.

    You are allowed to deliver Your product or services at any point in the transaction flow. However, if You choose to deliver a product before requesting a transaction or before a transaction fully completes successfully, You understand and agree that Gloebit is not liable if the transaction does not complete, nor is Gloebit responsible or required to attempt to collect the funds from the other User in the transaction. If You choose to offer a subscription to a User, We recommend that You execute the transaction request prior to the start of the subscription period. Gloebit is not responsible if a User’s Balance will not cover the transaction for a product or service which You have already delivered, nor will Gloebit attempt to process a transaction with a User Account which a User has disconnected from Your application.

  • Restrictions on Received Gloebits

    Gloebit attempts to make Gloebits received by You available to spend or sell from Your User Account as soon as a transaction is executed. This is not always possible and You agree:

    • Gloebits in or delivered to Your account may be placed in a hold preventing their use or sale until various levels of required payment verification or reduced risk of reversal are achieved.

    • Gloebits in Your account may be colored as to payment verification state or risk of reversal and Gloebit may provide functionality so Partners may choose not to accept Gloebits until they reach the state of verification of the Partner’s choosing.

  • Transaction Disputes

    Gloebit Users from whom You have received Gloebits can dispute the transaction in which You received those Gloebits and request a reversal of said transaction. Gloebit tracks and resolves disputes. Depending upon the dispute and the history of the Users involved, the onus may be upon either the sender or receiver of Gloebits to prove that the transaction was invalid or valid. In the case where a User disputes a transaction with You, you agree to the following:

    • You will supply any and all information which Gloebit requests regarding the transaction being disputed.

    • You will supply any and all information which Gloebit requests regarding any transactions related to the disputed transaction which Gloebit deems relevant to the disputed transaction investigation.

    • Gloebit may, but is not required to, contact You and allow You to resolve the dispute directly with or refund the User who disputed the transaction.

    • Gloebit may take action to reverse the transaction as detailed in the Reversal of Received Gloebits section of This Agreement.

    • The risk level associated with Your User Account may be modified.

    • The risk level associated with any transactions made by You and with any Gloebits in Your User Account may be modified.

  • Reversal of Received Gloebits

    On occasion, Gloebit will be required to reverse a transaction in which You received Gloebits. This may be due to a number of scenarios including, but not limited to a User disputing a transaction directly with You, a payment failure, chargeback or reversal affecting the User who sent You Gloebits, or detection of illicit activity such as fraud or money laundering. In the case where Gloebit considers or takes action on Your account related to a reversal, You understand and agree to the following:

    • The risk level associated with Your User Account may be modified.

    • The risk level associated with any transactions made by You and with any Gloebits in Your User Account may be modified.

    • Gloebit is not liable for or responsible for returning any product or service which You have or claim to have delivered as part of the transaction which is being reversed.

    • If the reversal does not involve a dispute directly with You, Gloebit may make attempts to resolve the reversal with minimal impact to You and without Your knowledge including but not limited to the following:

      • Gloebit may attempt to re-process the transaction with Gloebits from the sender’s User Account which have not been reversed or held.

      • Gloebit may delay action to allow the sender reasonable time to resolve the account issue.

      • Gloebit may determine that the reversal chain will have a larger impact than the loss from the reversal and may choose to re-process the transaction with Gloebits from an alternate source.

    • Gloebit may make attempts to limit the impact to You including but not limited to the following:

      • Gloebit may place the amount of Gloebits received from the transaction on hold in Your User Balance.

      • Gloebit may remove the Gloebits received from the transaction from Your User Balance.

    • Gloebit recommends that You maintain a Gloebit Balance in your User Account to cover potential reversal of transactions. If Your User Account Gloebit Balance does not contain enough Gloebits to recoup the Reversal Amount, then Gloebit may take actions which could extend the chain of impact including but not limited to the following:

      • Gloebit may reverse transfers of Gloebits made from You to other Users or Partners until the Reversal Amount has been recouped. This may affect Your account standing with said Users and Partners, reputation, or any assets acquired from such transfers. You will not hold Gloebit liable for any damages from such reversals.

      • Gloebit may suspend Your User Account and require You to take immediate action to acquire enough Gloebits to cover the Reversal Amount.

  • Balance from Sale of Gloebits

    When a request You have placed to sell Gloebits executes, Your User Account balance for the currency for which you sold your Gloebits (your “Non-Gloebit Balance”) is incremented accordingly. You do not need to maintain a Non-Gloebit Balance in Your Account. If You do hold a Non-Gloebit Balance, that Non-Gloebit Balance represents an unsecured claim against Gloebit and is not insured by the FDIC or any other medium. Gloebit may combine Your Non-Gloebit Balance with other Users’ Non-Gloebit Balances and invest those funds in liquid investments. Gloebit will own the interest or other earnings on pooled Non-Gloebit Balances.

    To secure Your performance of this Agreement, You grant to Gloebit a lien on and security interest in the Non-Gloebit Balances in Your User Account in the possession of Gloebit.

    Depending upon the degree to which You have verified Your identity, Your history with Gloebit, the risk level of Your User Account, and any applicable laws and regulations, We may limit the amount of Your Non-Gloebit Balance that You may cash out. In addition, We may delay cash outs of Your Non-Gloebit Balance, especially for large amounts, while We perform a risk review.

  • Fees

    As consideration for the Services You use, You agree to pay Gloebit the applicable service fees set forth on our website or as otherwise provided by Gloebit concurrently with this Agreement or when applicable, upon the receipt of an invoice from Gloebit. All fees are due immediately and are non-refundable except as otherwise expressly noted herein or in one or more attached schedules. If We do issue a refund, it will only be via the same payment method used by You to pay for the Service.

    Transaction Fee
    Two percent (2%) of the transaction amount in Gloebits is automatically sent from the receiver of Gloebits to Gloebit.

    Gloebit Sales Fee
    Gloebit does not charge any direct fee to the seller of Gloebits. Gloebits are sold at a slightly lower price than the purchaser of Gloebits pays. This margin is used to cover payment processing fees, fraud and other costs and to provide a service fee to Gloebit. Gloebits are currently sold at 200 Gloebits for US$1.

    Cash Out Fee
    The greater of $1 or the cost of delivering real-world funds to the external financial account and via the cash out method which You have requested.

    Transaction Dispute and Chargeback Fees
    Gloebit does not pass chargeback fees through to Partners, nor does it charge a fee for disputed transactions. However, Gloebit explicitly reserves the right to implement dispute fees globally in the future, or on an individual basis for Partners who are subject to a high level of disputes and to fine any Partner whom Gloebit reasonably believes welcomed transactions likely to be fraudulent or reversed due to chargebacks.

  • Taxes

    It is Your responsibility to determine what, if any, taxes apply to Your activities and it is Your responsibility to collect, report and to remit the correct tax to the appropriate tax authority. Gloebit is not responsible for determining whether taxes apply, or for collecting, reporting or remitting any taxes arising from any transaction, purchase of Gloebits, sale of Gloebits, Cash Out, or any other activity. You acknowledge that Gloebit may report to the Internal Revenue Service and to any other necessary regulatory body or government agency, the activity for Your account.

    You agree to pay all value added, sales and other taxes related to the Gloebit services or payments made by or to You hereunder. All transactions shall be made without any deduction or withholding on account of any tax, duty, charge or penalty except as required by law.

  • System Maintenance, Updates and Unexpected Downtimes

    Gloebit may, from time to time, perform maintenance on its systems and/or update its systems. When Gloebit expects that maintenance or updates will affect merchants, We will make attempts to schedule the maintenance or updates for periods of low usage and to inform merchants of this schedule.

    Gloebit may, from time to time, experience unexpected downtimes. When this occurs, Gloebit will make attempts to inform any merchants affected by the downtime, to quickly restore the Gloebit Services, to inform affected merchants once the system is restored, and to investigate and provide an explanation of the downtime after the system has been restored.

    Such maintenance, updates and unexpected downtimes may result in temporary unavailability of the Gloebit System including Merchant Services such as linking User Accounts, requesting balances and requesting transactions. You agree to relieve Gloebit from any liability or losses that may be associated with such maintenance, updates and unexpected downtimes.

  • Security Breaches

    Gloebit has implemented and will maintain security systems for the transmission of transactions, consisting of encryption and other technologies that are understood in the industry to provide adequate security for the transmission of such information over the Internet. Gloebit does not guarantee the security of the services or transaction data, and Gloebit will not be responsible in the event of any infiltration of its security systems, provided that Gloebit has used commercially reasonable efforts to prevent any such infiltration. You further acknowledge and agree that You, and not Gloebit, are responsible for the security of transaction data or information or any other information stored on Your servers, and that Gloebit is not responsible for any other party's servers (other than subcontractors of Gloebit solely to the extent Gloebit is liable for its own actions hereunder).

  • Warranty

    Services provided by Gloebit are only as represented in this Merchant Services Agreement and the User Terms of Service. No other warranties are expressed or implied.

  • Indemnification

    You will defend, indemnify, save and hold harmless Gloebit and its officers, directors, agents, affiliates, distributors, and employees from any and all third party claims, demands, liabilities, costs or expenses, including reasonable attorneys’ fees, resulting from Your breach of any duty, representation or warranty by You in this Agreement.

  • Limitations on Liability

    Gloebit is not responsible for any damages or costs You suffer or incur as a result of any instructions given, actions taken or omissions made by You. In no event will Gloebit’s liability (including liability for negligence) arising out of this Agreement exceed the fees paid to Gloebit by You hereunder during the twelve (12) month period immediately preceding the event which gave rise to the claim for damages. In no event will Gloebit or its licensors have any liability (including liability for negligence) to You or any other party for any lost opportunity or profits, costs of procurement of substitute goods or services, or for any indirect, incidental, consequential, punitive or special damages arising out of this agreement, under any cause of action or theory of liability (including negligence), and whether or not Gloebit has been advised of the possibility of such damage. These limitations will apply notwithstanding any failure of essential purpose of any limited remedy.

  • Force Majeure

    You understand and agree Gloebit will not be held responsible for losses or damages resulting from suspension of service due to extraordinary events or circumstances beyond the control of Gloebit (a “Force Majeure Event”). In the event of a Force Majeure Event, Gloebit may suspend service and access to the Gloebit System.

  • Assignability

    You may not transfer any rights or obligations You may have under this Agreement without the prior written consent of Gloebit. Gloebit reserves the right to transfer this Agreement or any right or obligation under this Agreement without Your consent.

  • Headings

    The section headings appearing in the Agreement are inserted only as a matter of convenience and in no way define, limit, construe or describe the scope or extent of such section or in any way affect such section.

  • Choice of Law

    This Agreement is governed by and interpreted under the laws of the state of California, USA as such laws are applied to agreements entered into and to be performed entirely within California by California residents.

  • Arbitration

    Any controversy or claim arising out of, relating to, or in connection with this Agreement, the breach thereof, or any representations by the parties relating thereto, including without limitation the arbitrability of such controversy or claim, will be settled by arbitration in San Francisco, California, in accordance with the then-prevailing Rules of Commercial Arbitration of the American Arbitration Association, subject to the modifications in this Section entitled Arbitration. Any judgment on the awards granted by the arbitrator may be entered in any court having competent jurisdiction thereon. Any such arbitration will be held before a single arbitrator. Unless otherwise agreed by the parties in writing, the arbitrator will only permit limited discovery: specifically, discovery will be limited to document discovery completed within thirty (30) days after the arbitrator issues the scheduling order; no deposition discovery will be permitted, and no forensic examination of electronic records will be permitted. The parties may agree to waive the arbitration hearing, and have the arbitrator decide the controversy or claim summarily based upon written pleadings and sworn statements. If the parties agree to waive the arbitration hearing, such agreement will be in writing. Unless otherwise agreed by the parties in writing, any final arbitration hearing will occur within ninety (90) days of submitting party's submission of the demand for arbitration, and unless the parties agree otherwise in writing, the hearing will not exceed three (3) days. The arbitrator will issue any ruling within fourteen (14) days following the hearing. The arbitrator will be chosen from American Arbitration Association arbitrators knowledgeable in the law surrounding the information technology industry.

  • Termination

    Gloebit, in its sole discretion, reserves the right to terminate this Agreement, access to Our website, access to the Gloebit Merchant Services, or access to the Gloebit System for any reason and at any time upon notice to You.

  • Privacy Policy

    You can find Our Privacy Policy here.

  • User Terms of Service

    You can find Our User Terms of Service here.

Last Revised: February 2014

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