TERMS AND CONDITIONS

This document establishes the Terms and Conditions (hereinafter the "Terms and Conditions") that will govern the relationship between BBW, SOCIEDAD ANONIMA DE CAPITAL VARIABLE, a corporation with variable capital, of Salvadoran nationality, supervised by the Central Reserve Bank and the Superintendency of the Financial System of El Salvador (hereinafter "BBW") and you as a User (hereinafter the "User"); for the use of the services provided by BBW through a digital wallet. The acceptance of these Terms and Conditions by the User is necessary for the use of the application, in case the User does not agree with them it is requested to refrain from the use of this, otherwise they will be understood as accepted and will apply what is established herein.

BBW, SOCIEDAD ANONIMA DE CAPITAL VARIABLE does not impose any type of obligation of use, download or registration on its application to any natural or legal person, as well as delivery or submission of information, acceptance of terms and conditions or similar elements, so the User is voluntarily obliged at the time of downloading, installing, registering and adding information to be subject to the provisions of these Terms and Conditions, thus expressing their clear and unequivocal will to accept them.

By accepting the Terms and Conditions, the User understands and approves the sending of text messages (SMS), push notifications, emails, among others from BBW and / or third parties that it determines, all directly or indirectly related to the use of the application and its products, services, customer service, updates, bugs, etc.

Similarly, the User understands that the acceptance of the Terms and Conditions enables the use of the information or data that is entered into application for the following purposes detailed below, said list is merely non-exhaustive:

These Terms and Conditions establish the policies of use and access of Bitcoin Beach Wallet, mobile application, computer system, website, as well as any other application or telematic development that is created for the effective use of the products and / or services provided by BBW or by third parties authorized for this purpose. Similarly, the Terms and Conditions in conjunction with its Privacy Notice establish the main elements that form and govern the contractual relationship between BBW, S.A. de C.V. and the User, which are developed along the following clauses:

**Clause One. Definitions. **

For the purposes of these Terms and Conditions, the terms set forth below shall have the following meaning:

"Bitcoin Beach Wallet": refers to an application for mobile phones developed by Galoy Inc., who exclusively owns all intellectual property rights over it, of which an exclusive authorization of use and operation has been granted to BBW, S.A. de C.V. in order to be operated and administered by it, through which the User may perform various activities such as: a) make bitcoin or money transfers in real time between users; (b) pay for utilities such as drinking water, electricity, telephone services, and internet; (c) manage the receipt of remittances, including microcredits as well as other financial products; hereinafter the "Services". It is considered accepted and understood by the User that it is possible that not all services are available at any given time, in the same way BBW may add and / or eliminate its own or third-party services of / in the application when it deems appropriate, without implying responsibility on its part.

The User understands and accepts that the administration and operation of Bitcoin Beach Wallet is carried out by BBW, S.A. de C.V., a company duly authorized and registered in the Registry of Bitcoin Service Providers of the Central Reserve Bank of the Republic of El Salvador and that the participation of Galoy Inc. corresponds only to elements of intermediation or provision of technological services.

**"User": **means any natural or legal person who meets the criteria defined by BBW, proceeds with the download of the mobile application, accepts these Terms and Conditions, as well as compliance with any other requirement that the owner of the service determines.

"Stablesats": process that allows usd to be implemented in the balance of the users' wallet through a derivative contract that takes as a reference an underlying asset, which allows the creation of a synthetic dollar, which is not legal tender and is not backed by a State or government entity.

Clause Two. General conditions on the use of BBW.

1. The User will be entirely responsible for the transactions that he decides to carry out in the mobile application, as well as the entry and download of information since it is considered that it is the property of the user, so it is within his domain and possession. Likewise, you understand and accept that in case BBW, S.A. de C.V. must face an administrative or judicial process as a result of the transactions or information entered or downloaded by the User, he will be directly involved in the process and depending on the results of the same he must personally respond to them.
2. The User accepts that BBW, S.A. de C.V. reserves the right to use all means of requesting validation of information that it deems proportionate and convenient, in order to guarantee the correct use of its mobile application. For the purposes of full compliance with the foregoing, BBW, S.A. de C.V., the information to which access is granted and that which could represent a risk to its operation, as well as the computer, physical and / or active information resources that compose, form part of, or support directly or indirectly the application (hereinafter the "**Information** Resources" ") may exercise, through natural or legal persons expressly authorized for such purposes, the active monitoring of all activities, their components, their operations and/or in the solutions and/or tools that enable it, as permitted by the relevant legislation, the foregoing in order to avoid any cybersecurity risk that threatens said information and the Users,  seeking to avoid also any type of violations and transgressions of the Terms and Conditions, the applicable rules on regulatory and compliance matters, (including but not limited to regulations on intellectual property; protection of personal data;  prevention of money laundering and terrorist financing, consumer protection; internal policies of the company, regulations of the Central Reserve Bank or Superintendency of the Financial System of El Salvador. 

In the same way, it seeks to minimize unauthorized or illegal actions, protection of the mobile application, its functionalities, the Information Resources, other Users, its third-party providers, as well as avoid being used as an attack tool to third parties, among others.  The User understands and accepts that, if violations or contempt of the Terms and Conditions are found, the applicable regulations (internal and external); as well as irregular behavior and / or attacks on its information and computer resources (own and / or third parties), among others, will proceed to take administrative, civil, criminal and / or precautionary measures, which it deems appropriate and that allows the legalor salvadoran system or, to attend and as far as possible, solve the situation,  including among these (but not limited to), the suspension and / or immediate elimination of access and use of BBW, the cancellation of your profile when applicable, as well as those lieutenant actions to analyze, investigate, track, collect evidence, compel, stop, and / or defend against attacks or irregular behavior that occur or have occurred. It is understood and accepted by the User that he must respond both civilly, criminally and administratively, to any type of irregular action including those that may affect third parties and must provide total indemnity and keep BWSA DE CV in peace and safe from all the consequences that derive from his action or omission.


3. In order to promote business continuity and provision of the service to all Users, BBW, S.A. de C.V.  has the necessary contingency processes focused on guaranteeing access and continuous use to Users, no bstante they recognize and accept that there is the possibility that at some point certain technological elements present some failure leaving some Services totally or temporarily suspended, or be subject to interruptions, failures and / or errors without this implying, nor can it be alleged as liability of any nature attributable to BBW, S.A. de C.V.  and/or Galoy Inc.


4. The User understands and accepts that all the data and information that enters or to which it is processed through BBW and that it makes available to BBW, S.A. de C.V.  will have a preliminary validation that it is totally true, so by accepting these Terms and Conditions expressly empowers BBW, S.A. de C.V. , processors and other technology intermediaries – including Galoy Inc. - to use it in the context of the Terms and Conditions in force, as well as on the occasion of the operation, support and maintenance of BBW and for the provision of the Services to the User, as permitted by the applicable legal system. When the information refers to personal data, the informed consent of the User included herein will apply.


5. The User understands and accepts that many of the functionalities of BBW will be found in the mobile application for which he must bear in mind the following conditions: 


a) Que the operating system of the mobile phone must be free of vulnerabilities and that it is solely responsible for ensuring that your mobile phone is updated to the latest version of the respective operating system, that it is free of any code and / or malicious program, that the respective patches indicated by its manufacturers have been applied and that it has antivirus and antimalware applications suitable for the device concerned.


b) Currently BBW will be used only by natural persons over eighteen (18) years of age, so in this act parents or  legal guardians are requested to take the appropriate measures  to avoid  access to it. In case the foregoing is ignored and any minor manages to register in the mobile application, it will be understood that he does it under the direct authorization of his legal representatives, being these responsible for each of the actions or omissions carried out by said minors, being considered for all purposes, that the respective actions or omissions were carried out by the Users responsible for the account. 


c) BBW require to have a stable, secure and good speed internet connection to provide the best user experience, BBW, S.A. de C.V.   is not and will not be responsible, in any case, for transactions that the User cannot carry out because they lack an internet connection that complies with the conditions described above.


d) The User understands and accepts that, due to the nature of bitcoin, the transfers made through BBW are final and irreversible, so that once the respective transaction has been concluded, it cannot be reversed or canceled.


6.  BBW request at the time of creating an account a photograph ofthe Usuario with movement, as well as any suitable identity document such as proof of life and identity verification, it undertakes to provide BBW with any information necessary to comply with the established security mechanisms. 


7. The User authorizes BBW or a third party contracted by it, to request at any time and without prior notice, commercial, banking, financial and / or reputational references of its own, to review any public or private database as part of the study requirements and in general, to make the respective analysis of all Users of their mobile wallet , in any repository of physical or digital information, as well as to inquire about the behavior of such Users, as permitted by applicable Salvadoran regulations  .


8. BBW may request updates and complements of the information provided by Users as well as request any other information in the future, not attending to the above may result in closing of account, unsubscribe, delete and / or suspend the Services in case you refuse to update or expand the information in the terms in which it is required.


9. BBW reserves the right to modify or amend, in whole or in part, these Terms and Conditions, at any time, which will inform the User in a timely manner by the means it deems appropriate, even suffice only for this, to publish a new version of the mobile application, so that the modifications become fully effective, replacing the previous versions. Likewise, the User understands and accepts that these Terms and Conditions will be adjusted, as appropriate, to the mandatory regulatory changes that apply to them, as determined by current legislation. The User understands that it is his final responsibility to review the Terms and Conditions periodically, so BBW will understand that the User accepts all changes operated by  continuing to use the application without any interruption.  In case the User does not agree with the modifications made to the Terms and Conditions, he may cancel his account and abandon the use of the application. 


10. The User acknowledges and guarantees that the income used for the various transactions within the application comes from lawful activities, also guarantees that he is not involved in money laundering, financing of terrorism, or other illegal activities and that, he knows of the existence of anti-laundering and anti-corruption laws and decrees where any type of fraud or illegality that he intends with the use of  The BBW mobile wallet could have civil, criminal and any other sanctions that the law indicates, in addition to the closure, suspension and deletion of your account.

1. The User understands and accepts that it will be at his account the payment of all taxes, fees, contributions, services, tax species or any other current or future tax charges levied on BBW services.

**Clause three. Transactional limit. **

The User acknowledges and accepts that BBW reserves the right to establish limits on amounts to transfer and receive money, which will be subject to the provisions of current legislation, levels of transactionality, risk policy, as well as any internal policy of the operating company of the wallet.

BBW under no circumstances will be criminally or civilly liable or of any other nature for the impossibility to carry out transactions by the User, regardless of whether that transaction could not be carried out due to insufficient funds, error in information provided by the User, services suspendeds , internet connection problems, temporary or permanent defects in the User's mobile phone or cell phone service, technological failures of B BW's own infrastructure or third parties, due to suspicious transaction, as well as for any other cause beyond the control of BBW such as fortuitous event, force majeure, acts of hostility or war, rebellion, insurrection, revolution, confiscation, nationalization, destruction or requisition arising from any act of de facto authority or civil or military law, acts of terrorism, subversion or guerrilla, strikes, confinement and pandemics.

**Clause four. ** **Informed consent: Protection of publicfunds. **

BBW, in order to better manage the information shared by Users, has a policy of protection of personal data and informed consent which has as its maximum premise the respect of the rights of the User, with total transparency and in compliance with the applicable regulations on the protection of personal data. 

For the purposes of information to the User , BBW, S.A. de C.V., a public limited company with variable capital, of Salvadoran nationality, supervised by the Central Reserve Bank and the Superintendency of the Financial System of El Salvador, which will be hereinafter referred to as "BBW", is established as responsible for the personal data obtained by the use of the application. to whom users clearly and expressly authorize to: a) collect, copy, store, consult, acquire, transfer, organize, communicate, use, extract, access, compare, delete and in general, treat their personal data of unrestricted and restricted access such as but not limited to: information and commercial references, email, personal telephone numbers, information of a socioeconomic nature, credit record, data on historical behavior of payments and credit information in general, technological information regarding: geolocation, traffic information in cell towers, login, IP address, cookies on website and mobile applications, statistical data on the use of electronic devices, and any other personal data that is relevant to the development of new products / services; b) The User expressly authorizes BBW to process sensitive personal data only for security purposes and thus establish the corresponding controls, including but not limited to image, voice, and other biometric data necessary and proportionate for the purposes; c) T ratar, store or replicate on servers located inside or outside the national territory personal data, either directly or through service providers and / or technological intermediaries which comply with ISO / IEC 27001: 2013, PCI-DSS, PII and HIPAA security standards; d) To carry out different databases, whether public or private; to consult their own databases, or to collect and process the information provided by the User either through forms, contractual documents, emails, telephone calls, complaints, and/or the use of mobile and/or intelligent devices, including computers and cell phones, and in general, any other form or means that allows the collection of such data and that arises by virtue of or on the occasion of the contractual relationship between the parties; e) Utilizar data and information for own commercial purposes, execution of contracts, policies and other legal obligations, transmission of information to government institutions when they request it in legal form, commercial prospecting, sending electronic communications including but not limited to text messages, instant messages and emails, invitations and / or commercial offers on products or services, marketing, customer service attention, conflict resolution, reminders, acknowledgments and celebrations, invitations, and in general, any act that is necessary and / or derived from the commercial relationship and / or allows its strengthening, likewise, may transform them into statistical data and publish them under the latter format if considered relevant and / or necessary; f) Include personal data in databases for internal use and share the information with its subsidiaries; and g) To share personal data with third parties or persons, natural or legal, who collaborate in carrying out ancillary procedures of BBW, including customer service tasks, consultants, marketing services, technological and / or technological support services, developers, electronic transfer services and / or information security, and in general, any external professional that is necessary to execute and comply with the obligations established in the contracts and / or the performance of prospecting and / or commercial sale or development of new products or services;

The authorization granted in this clause may be revoked at any time by the User, sending an email to the address support@bbw.sv, also the User may request access, rectification, cancellation, deletion and / or opposition of the shared information. The User understands and accepts that any request and modification of information will not be retroactive, so it will enter into force in our databases 5 business days from the date of the request, the effects of retroactivity will be extended to the transactions made, as well as any internal or external investigation process that is in process. At the time of expressing his desire for revocation, the User accepts that he will not be able to continue using the BBW application and its services, proceeding to delete his account.

Clause five. Stable Dollar/Stablesats

BBW, S.A. de C.V. has signed agreements with various providers of technological solutions (third party providers) through which it makes available to its Users a portfolio of products and services to provide a better experience and operability, within these we find the Stablesats through which Users are allowed to have USD within the balance of their wallet mobile, thanks to a derivative contract that takes as a reference an underlying asset, which allows the creation of a synthetic dollar, which is not legal tender and is not backed by a State or government entity

BBW, S.A. de C.V. will not be responsible for the performance in the provision of services of third-party providers to their users, the custody of balances in cryptocurrencies or their derivatives, refunds or payments, fees or taxes, changes in any associated security protocol, among others.

BBW, S.A. de C.V. and any of its third-party providers have the possibility of limiting or restricting the use of their platforms to users when detecting any operation that is outside their established parameters, so they will not be responsible for any failure or loss in which any transaction in question is involved.

**Clause six. Confidentiality. **

BBW will manage with the highest level of confidentiality the information shared by the User, it will only be disclosed for the purposes of compliance with a court order or requirement of any competent authority in accordance with applicable laws. Likewise, the information shared will not be used for purposes other than those established in the Terms and Conditions developed herein.

Clause seven. Jurisdiction and applicable legislation.

Any discrepancy, disagreement, difference, conflict, controversy, or dispute arising between shall be submitted to the laws of the Republic of El Salvador.

Prior to an administrative or judicial action, the direct TREATMENT route will be attempted in the following way: on the occasion of a claim on the part of the User, he will have the possibility to share it through the following channels:

email: support@bbw.sv

Whatsapp +503 6983 5117

Telephone support +503 7208 9187

Website www.bbw.sv

Twitter @btcbeachwallet

Facebook @btcbeachwallet

Instagram @btcbeachwallet

BBW will have a period of 3 working days counted from the day following the notification to provide a detailed response on the resolution either in the sense or positive of the disagreement raised by the User.

Finally, in the event of a legal action, both parties expressly agree to submit to the jurisdiction and tribunals of the Republic of El Salvador, and to the domicile and special jurisdiction of San Salvador; expressly waiving any other jurisdiction that by reason of their present or future domiciles or that for any other reason may correspond to them.

Likewise, the User will have the possibility to contact the User Service Office of the Superintendency of the Financial System of El Salvador through the following channels:

Address: 69 Avenida Sur, entre Paseo General Escalón y Senda Florida #3563, Colonia Escalón, San Salvador. Old building of the General Directorate of Migration and Aliens.

Hours of Operation: Monday through Friday from 8:00 a.m. to 4:00 p.m. Not closing at noon.

Email: atencionalusuario@ssf.gob.sv

Whatsapp +503 7840 9741 and +503 7593 9103

Telephone support +503 2505 6999 Option 1