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Terms and Conditions

DollarPot (the Service Provider) is a rotating savings mobile application. By using DollarPot, you will save money in the form of a money pool and agree to the terms set forth here by the service provider, DollarPot.

 

DollarPot Account Agreement

How you agree to this agreement

You agree to the terms of this Agreement and you make the promises it contains by taking a position in a money pool pot and electronically agreeing to the money pool pot terms (by confirming your account) at the time of taking your position.

Pot Limit

No pot should exceed 12 members and $10,000 USD.

User Accounts

In order to use most aspects of the Services, you must register for and maintain an active personal user Services account ("Account"). You must be at least 18 years of age, or the age of legal majority in your jurisdiction (if different than 18), to obtain an Account, unless a specific Service permits otherwise. Account registration requires you to submit to Provider certain personal information, such as your name, address, mobile phone number and age, as well as at least one valid payment method supported by Provider. You agree to maintain accurate, complete, and up-to-date information in your Account. Your failure to maintain accurate, complete, and up-to-date Account information, including having an invalid or expired payment method on file, may result in your inability to access or use the Services. You are responsible for all activity that occurs under your Account, and you agree to maintain the security and secrecy of your Account username and password at all times. Unless otherwise permitted by Provider in writing, you may only possess one Account.

Promise to Pay

You agree to repay to your money pool pot the agreed upon pot amount plus corresponding fees on the scheduled dates of your money pool pot as set forth by the “pot terms and schedule” during the taking of a position in a money pool pot.

Collection Costs

You agree to pay all costs of collection if we take any action to collect on this account or take any action in a bankruptcy proceeding filed by or against you, including reasonable attorneys' fees and expenses, if permitted by applicable law.

Fees​

You agree to pay the following fees, as applicable:

Annual subscription fee- $2.99

Buy in fee- Members are required to pay 10% of pot total to buy into a pot. Buy in covers pot if any member chooses to pull out before rotation has completed or a member is late on a payment.

Early Pull Out Fee- Member will be charged 50% of pot total if member decides to pull out before pot rotation has completed.

Same day bank transfer fee – Member will be charged 3.9% payout for same day bank transfer of funds. 

Delayed payment fee- Member will pay 10% of pot total for any delayed payments.

 

Default

In the event of a pot default, the user will be notified by DollarPot that they have in fact defaulted from their pot agreement and will be removed from the group. 

Our Rights

Subject to your compliance with these Terms, Provider grants you a limited, non-exclusive, non-sublicensable, revocable, non-transferable license to: (I) access and use the Applications on your personal device solely in connection with your use of the Services; and (ii) access and use any content, information and related materials that may be made available through the Services, in each case solely for your personal, noncommercial use. Any rights not expressly granted herein are reserved by Provider and Provider’s licensors.

Termination

We may terminate your Account or this Agreement at any time for any reason without prior notice, subject to limitations of applicable law. After termination, you will not be able to participate in any new pots but you will still have to pay any remaining balance in full. All other provisions of this Agreement will continue to apply.

Amendment of Terms and Conditions

The Service Provider may amend the Terms and Conditions, including any of the terms stated above, from time to time in which case the users will be notified in accordance with their preferred contact method. 

Include an indemnification, limited liability Disclaimers; Limitation of Liability; Indemnity.

DISCLAIMER

THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE." SERVICE PROVIDER DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED, OR STATUTORY, NOT EXPRESSLY SET OUT IN THESE TERMS, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. IN ADDITION, PROVIDER MAKES NO REPRESENTATION, WARRANTY, OR GUARANTEE REGARDING THE RELIABILITY, TIMELINESS, QUALITY, SUITABILITY, OR AVAILABILITY OF THE SERVICES OR ANY SERVICES OR GOODS REQUESTED THROUGH THE USE OF THE SERVICES, OR THAT THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE. YOU AGREE THAT THE ENTIRE RISK ARISING OUT OF YOUR USE OF THE SERVICES, AND ANY SERVICE OR GOOD REQUESTED IN CONNECTION THEREWITH, REMAINS SOLELY WITH YOU, TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW.

LIMITATION OF LIABILITY.

PROVIDER SHALL NOT BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE, OR CONSEQUENTIAL DAMAGES, INCLUDING LOST PROFITS, LOST DATA, PERSONAL INJURY, OR PROPERTY DAMAGE RELATED TO, IN CONNECTION WITH, OR OTHERWISE RESULTING FROM ANY USE OF THE SERVICES, REGARDLESS OF THE NEGLIGENCE (EITHER ACTIVE, AFFIRMATIVE, SOLE, OR CONCURRENT) OF PROVIDER, EVEN IF PROVIDER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

PROVIDER SHALL NOT BE LIABLE FOR ANY DAMAGES, LIABILITY OR LOSSES ARISING OUT OF: (I) YOUR USE OF OR RELIANCE ON THE SERVICES OR YOUR INABILITY TO ACCESS OR USE THE SERVICES; OR (ii) ANY TRANSACTION OR RELATIONSHIP BETWEEN YOU AND ANY THIRD PARTY PROVIDER, EVEN IF PROVIDER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. PROVIDER SHALL NOT BE LIABLE FOR DELAY OR FAILURE IN PERFORMANCE RESULTING FROM CAUSES BEYOND PROVIDER'S REASONABLE CONTROL. 

THE LIMITATIONS AND DISCLAIMER IN THIS SECTION DO NOT PURPORT TO LIMIT LIABILITY OR ALTER YOUR RIGHTS AS A CONSUMER THAT CANNOT BE EXCLUDED UNDER APPLICABLE LAW. BECAUSE SOME STATES OR JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF OR THE LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, IN SUCH STATES OR JURISDICTIONS, PROVIDER’S LIABILITY SHALL BE LIMITED TO THE EXTENT PERMITTED BY LAW. THIS PROVISION SHALL HAVE NO EFFECT ON PROVIDER’S CHOICE OF LAW PROVISION SET FORTH BELOW.

Indemnity

You agree to indemnify and hold Provider and its affiliates and their officers, directors, employees, and agents harmless from any and all claims, demands, losses, liabilities, and expenses (including attorneys' fees), arising out of or in connection with: (I) your use of the Services or services or goods obtained through your use of the Services; (ii) your breach or violation of any of these Terms; (iii) Provider’s use of your User Content; or (iv) your violation of the rights of any third party, including Third Party Providers.

 

Choice of Law 

You and Provider agree that any dispute, claim or controversy arising out of or relating to (a) these Terms or the existence, breach, termination, enforcement, interpretation or validity thereof, or (b) your access to or use of the Services at any time, whether before or after the date you agreed to the Terms, will be settled by binding arbitration between you and Provider, and not in a court of law.

You acknowledge and agree that you and Provider are each waiving the right to a trial by jury or to participate as a plaintiff or class member in any purported class action or representative proceeding. Unless both you and Provider otherwise agree in writing, any arbitration will be conducted only on an individual basis and not in a class, collective, consolidated, or representative proceeding. However, you and Provider each retain the right to bring an individual action in small claims court and the right to seek injunctive or other equitable relief in a court of competent jurisdiction to prevent the actual or threatened infringement, misappropriation or violation of a party's copyrights, trademarks, trade secrets, patents or other intellectual property rights.

 

Questions or concerns

*Email your questions to dollarpotllc@gmail.com. All questions will be processed and answered within 48 hours.