Last updated: May 28, 2026
Changes made to the May 28, 2026 version: addition of terms and conditions for Purchase Orders on Inédit (4.2.4.1.)
The General Terms and Conditions of Use (the "Terms") apply to the operation and use of the EQWIN virtual stable app (the "App") and its associated features ("the Services"). The Terms apply to the exclusion of all other terms and conditions. The Terms apply to natural persons of legal age, acting in a personal capacity and not in the course of their professional activities, who register on the App to open an account in order to become a virtual owner of a stable ("the User").
The App is owned and operated by PMI Group, headquartered at 12 rue d'Hauteville, 75010 PARIS, and registered with the Paris Trade and Companies Register under number 983 031 519 ("PMI Group")
The Terms contain general and legal information regarding the rights and obligations of the Application User.
When creating an EQWIN account on the App, the User must expressly accept the Terms by checking a designated box in order to access the Services. The User may review the Terms before creating their EQWIN account and may save or print them.
For any questions or comments regarding the App, the Services, or the Terms, the User may send an email to the following address: hello@eqwin.app .
Financial Contribution to the Horse Racing Industry
In accordance with the applicable terms agreed upon between PMI Group and the France Galop and Le Trot federations, PMI Group remits to the federations a portion of its revenue derived from transactions on the primary and secondary markets for digital Memorabilia representing horses active in French horse races organized, directly or indirectly, by the France Galop and Le Trot federations.
PMI Group reserves the right to modify the Terms at any time and without notice. The User will be notified of such changes via a pop-up when logging into their EQWIN account. The User must agree to the new version of the Terms. If the User does not accept the amended Terms, access to their EQWIN account will be disabled. The date indicated at the beginning of the Terms is the date of the last update.
To create an EQWIN account and access the Services, the User must (i) download the Application onto a device with access to app distribution platforms (such as the App Store or Play Store) and comply with the requirements of those platforms, and then (ii) create an account on the Application (the "EQWIN account") in accordance with the terms specified below.
Creating an EQWIN account is free.
Each User may create only one EQWIN account, and PMI Group will deactivate any additional or duplicate EQWIN accounts it may detect.
The User is solely responsible for the use of their EQWIN account and must not authorize or allow other persons, whether or not they are also Users, to use their EQWIN account.
The User may create an EQWIN account by completing the EQWIN account creation form available on the Application or on the eqwin.app website. The User must provide accurate and up-to-date information and must not impersonate another person.
The User may, at any time, modify their information in the "My Profile" tab and, if they wish, close their EQWIN account. The User must keep their EQWIN account information up to date.
The User must keep their password confidential. This information must not be disclosed to third parties or otherwise transmitted to them.
The User must choose a strong password consisting of:
The EQWIN account is personal. The User must ensure that their login credentials for the Services are secure and protected against unauthorized access.
The User must ensure that the devices they use to access the Application are protected against unauthorized or inappropriate use (for example, by locking their phone so that access requires a passcode, a fingerprint reader, or facial recognition).
If the User suspects or becomes aware of any inappropriate or unauthorized use of the Application and/or their EQWIN account, they must notify PMI Group as soon as possible by sending a message to hello@eqwin.app
To create an EQWIN account and access the Services, the User must, at a minimum, meet the following cumulative prerequisites:
To verify that individuals meet all the requirements to create an EQWIN account and access the Services, PMI Group has engaged the service provider MangoPay (whose Terms and Conditions of Use are set forth in Article 18 of these Terms). During the EQWIN account creation process, the User will therefore be redirected to a page managed by MangoPay, which will request the required information and documents.
The identity verification process must be fully completed before the User can successfully create their EQWIN account and access the Services.
PMI Group shall not be held liable if the identity verification provider refuses to register an individual. Similarly, PMI Group shall not be held liable for the operation and accessibility of the third-party provider's identity verification services.
The EQWIN account is funded via credit card. Any deposit into the EQWIN account must meet a minimum amount, which is communicated to the User within the Application.
The User will be asked to provide credit card information. This data will be verified by MangoPay to ensure that the User is the legitimate cardholder. PMI Group will then ask the credit card issuer to initiate the payment transaction. The credit card issuer will automatically process the payment transaction via the App using two-factor authentication, and the User's bank account linked to the credit card will be debited.
The User's EQWIN account will be credited once the payment has been successfully processed.
Any withdrawal from the EQWIN account, which must be for a minimum amount specified to the User in the App, is made via bank transfer to the User's bank account; the User must first have provided their IBAN
The first deposit made by credit card to the EQWIN account may only be withdrawn after a period of 7 (seven) calendar days from the date of deposit.
Furthermore, no withdrawal from the EQWIN account may be initiated before the first deposit made by credit card and the expiration of the period specified in the preceding paragraph.
PMI Group assumes no liability for payment transactions. It is the User's responsibility to contact the issuing bank of the credit card used to make the payment in the event of a payment processing error.
The User shall bear all costs (such as those related to a declined transaction) incurred due to insufficient funds in their EQWIN account to complete the payment.
The User may view the electronic balance of their EQWIN account (the "Balance") on the Application.
The Balance can never be negative. The User may top up their Balance, in accordance with the terms specified in section 3.2.1. above, or by selling one or more Digital Memorabilia.
The User gives PMI Group prior and express consent (i) to debit the Balance of their EQWIN account for the amount of transactions made on one of the Digital Memorabilia, particularly in the case of the execution of a Purchase Order, and (ii) consequently waives any right of withdrawal, in accordance with the provisions of Article L. 221-28 of the French Consumer Code.
Subject to the provisions of Section 3.2.1, the User may request the transfer of all or part of their Balance to their bank account or spend all or part of their Balance to purchase one or more Digital Memorabilia.
The Balance is separate from the value of the virtual stable; consequently, changes in the value of the virtual stable have no impact, positive or negative, on the User's EQWIN account Balance.
The User may decide at any time to delete their EQWIN account by clicking on the "MY PROFILE / DELETE MY ACCOUNT" tab.
Before permanently deleting their EQWIN account, the User must (i) transfer any available Balance to their bank account and, if they wish, (ii) resell the Digital Memorabilia they hold.
Please note: Deleting the EQWIN account does not result in the automatic sale of the Digital Memorabilia held by the User as of the date the EQWIN account is deleted. The User therefore acknowledges that it is their responsibility to ensure the sale of the Digital Memorabilia they hold by manually adjusting the applicable reserve price. The User may also permanently waive their rights to the Digital Memorabilia. No subsequent refund may be requested from PMI Group in this regard.
In the event that the User has not resold their Digital Memorabilia by the date of deletion of their EQWIN account, they will no longer be considered the owner, and all of their Digital Memorabilia will be put back up for sale on the Application.
The User shall not be entitled to any compensation of any kind whatsoever when deleting their EQWIN account, for any reason whatsoever.
The EQWIN account will be permanently deleted within seven (7) business days of the User's request. Before this period expires, the User may change their mind and request, via email, that EQWIN support reactivate access to their EQWIN account.
The deletion of the EQWIN account terminates the User's use of the Application and access to the Services.
PMI Group reserves the right to immediately deactivate and then delete a User's EQWIN account in the event of a violation by the User of the Terms or any other legal or regulatory obligation, or if PMI Group believes in good faith that such deletion and deactivation are necessary to protect the security of the Application or in the event of a breach of its integrity or reputational image by the User. The User will be notified in advance via email of the deactivation and will have the opportunity to rectify the violation within 5 (five) business days of the notification sent by PMI Group.
If the deactivation becomes permanent, the EQWIN account will be deleted, and the User will be asked to submit a request to PMI Group to transfer any available Balance to their bank account.
The deletion and/or deactivation of an EQWIN account terminates the affected User's use of the Application and access to the Services.
Once the creation of the EQWIN account is confirmed, the User can create a virtual stable by customizing the available features (such as the stable colors and the name of the stable).
The App lists existing French racehorses trained in France in the "Catalog" tab.
The User can search the Catalog for the horse(s) they wish to acquire to build their virtual stable.
Each racehorse is represented by ten (10) virtual units (the "Digital Memorabilia"). The User may acquire only one Digital Memorabilia for a single racehorse but may acquire Digital Memorabilia representing multiple horses.
The App displays all prices at which the Digital Memorabilia is offered, except for an Inédit.
The price of a Digital Memorabilia displayed on the App includes: (i) the price offered by EQWIN on the primary market, (ii) the resale price offered by Users on the secondary market, and (iii) the price of the Buy Order placed by a User in accordance with the terms defined in Section 4.2.4 of the Terms.
(i) The price offered by EQWIN on the primary market for a Digital Memorabilia ("unit price") is, for a horse that has already raced, determined by an algorithm that takes into account data related to the horse's racing performance (race purse, winnings, finishing position). The unit price on the primary market determines the indicative value (the "Indicative Sporting Value") used in the Application, with a 1:1 parity. The unit price is therefore subject to change, particularly depending on the races in which the horses participate.
(ii) The Resale Price is set in accordance with the terms defined in Section 4.2.3 of the Terms and Conditions.
(iii) The price of a Purchase Order is determined in accordance with the terms set forth in Section 4.2.4 of the Terms and Conditions.
With the exception of the purchase of an Inédit (the terms of which are set forth in Section 4.2.4.1.), the User purchases the Digital Memorabilia at the lowest price among those displayed on the App.
The User may only purchase one or more Digital Memorabilia on the Application if they have a sufficient Balance in their EQWIN account.
As soon as the User purchases a Digital Memorabilia, regardless of the method of acquisition, they must set the price at which they wish to resell it (the "Resale Price").
In the case of a Buy Order on Inédit, the Resale Price set by the User may not be lower than the amount of their Buy Order and must be expressed as an absolute value.
In the case of a Buy Order on the secondary market, the Resale Price set by the User may under no circumstances be lower than that Buy Order.
The User may modify the Resale Price displayed on the Application at any time, either upward or downward. The Resale Price may be set above or below the indicative sports value of the digital Memorabilia.
Each User may sell to other Users, at the Resale Price, some or all of the Digital Memorabilia they own.
The User may submit a purchase offer for a Digital Memorabilia available (i) on the primary market or (ii) on the secondary market, in accordance with the terms set forth below ("the Purchase Order").
Within the Catalog, a Digital Memorabilia representing a horse that has never raced is identified as an "Inédit".
The purchase of an Inédit is offered on the Application via a blind auction mechanism.
The bidding period begins upon the horse's official entry and ends at the start of its first race.
The terms of this auction mechanism are as follows:
At any time, the User can view their Purchase Order on the App and its current status.
A Purchase Order for an Inédit item can be deleted but cannot be modified. If a Purchase Order is deleted, the User loses the right to place a new Purchase Order for the Inédit item in question.
The User will be notified if their Purchase Order for an Inédit could not be executed due to an unsuccessful bid, and their Purchase Order will be converted into a Purchase Order on the secondary market in accordance with the terms defined in 4.2.4.2.
If no Buy Order has been placed on a given Inédit at the start of the race, the Inédit will be offered for sale, after the race, on the primary market in accordance with the terms set forth in Section 4.2.2 of the Terms and Conditions.
The Buy Order placed by the User on the secondary market must be strictly lower than the lowest resale price available on the secondary market.
If the Purchase Order placed by the User is equal to or higher than the lowest resale price, the User may choose to: acquire the Digital Memorabilia, modify their Purchase Order, or cancel it.
The User may at any time modify their Buy Order upward or downward, or cancel it, within the limits specified above.
A Purchase Order is considered executed if a User agrees to sell their Digital Memorabilia to the User who placed the Purchase Order or if the Resale Price of the Digital Memorabilia that was the subject of a Purchase Order reaches the amount of the Purchase Order.
The User will be notified by email of the execution of the Purchase Order.
The "My Stable" tab allows the User to view at any time the overall indicative sports value of their virtual stable, which is equal to the sum of the indicative sports values of the digital Memorabilia that the User owns at a given time.
The User acknowledges that PMI Group does not guarantee any change in the price of a digital Memorabilia, and that, in particular, the price of the digital Memorabilia purchased by the User may decrease as of the date of purchase, which may cause the indicative sports value of the virtual team to decrease. The User acknowledges that the purchases and sales they make may result in a financial loss depending on the prices available on the Application and the Reserve Price set by the User, and that PMI Group shall not be held liable, under any circumstances, for such a loss.
When the User owns at least one digital Memorabilia, they will be able to access the "Races" tab in the App.
The races listed within the App are those taking place in real life. Race data is made available to the User for informational purposes only.
Each month, PMI Group organizes an automated ranking of Users based on points earned through their virtual stables. These points are calculated based on the actual performance of the horses associated with the digital Memorabilia owned by the User. The User receives one (1) point for every one hundred (100) euros won by the horse in a race.
This ranking is reset on the first (1st) day of each month.
In addition to the rankings, Users are assigned a status based on their virtual team's points. This status is purely for informational purposes and is intended to help Users track their progress in the App. It does not affect the User's Balance.
PMI Group also compiles an annual ranking, aggregating the points earned by Users each month. This ranking is reset annually on January 1st and is available in the App for informational purposes. It does not affect the User's Balance and does not result in any rewards of any kind.
By registering and participating in the Daily Sweep feature, the User agrees to comply with the specific rules applicable to the Daily Sweep. These rules are clearly displayed in the App and must be reviewed before each registration and participation in the Daily Sweep.
The Daily Sweep Rules may be updated or modified at any time. It is therefore the User's responsibility to review the Daily Sweep Rules each time they register to participate.
The awarding and accumulation of points through the Daily Sweep are governed exclusively by the Daily Sweep Rules then in effect.
Use of the Daily Sweep feature following any modification or amendment to the Daily Sweep Rules is deemed to constitute the User's consent to comply with the updated rules.
Users may obtain "tokens" under conditions that will be made available to them on the App, provided that these conditions may be updated or modified at any time and that it is therefore the User's responsibility to review them regularly.
These tokens allow the User to perform "advanced searches" to access enhanced information on one or more racehorses according to the terms specified on the Application.
Tokens are credited to the User's "My Tokens" wallet.
The information thus made available to the User is provided for informational purposes only.
PMI Group strives, to the extent possible, to keep the Services accessible 24 hours a day, 7 days a week. In the event of an interruption, PMI Group will implement the measures it deems most appropriate to resolve the interruption as quickly as possible.
PMI Group reserves the right to interrupt access to the Application, particularly for technical reasons, without being held liable for such interruptions or any consequences they may have for the User or a third party.
PMI Group may take measures that may affect access to the Application or the Services or suspend the Application or the Services:
In any case, PMI Group will promptly notify Users that access to the Application or the Services has been suspended or restricted, as applicable.
PMI Group shall in no event be liable for:
Each User agrees to:
Any violation or breach by the User shall render the User liable. The User shall be required to compensate PMI Group and/or third parties for any damages caused by such a violation.
PMI Group wishes to alert the User to the risks of gaming addiction, as addiction may result from a state of dependency caused by excessive use of the Services.
Consequently, PMI Group recommends that all Users consume the Services in moderation to avoid any addiction and adopt responsible behavior to prevent excessive use of the Services that could lead to such addiction.
PMI Group therefore recommends that Users adopt certain practices for the healthy and reasonable use of the Services:
At the request of the France Galop and Le Trot federations, and provided that such an obligation applies to PMI Group, PMI Group may be required to prohibit the marketing, resale, and, more generally, any transaction involving Digital Memorabilia to:
In the aforementioned case, PMI Group will immediately take all necessary measures to suspend the use of digital Memorabilia by the persons concerned.
"The consumer is entitled to the application of the statutory warranty of conformity in the event of a lack of conformity arising within a period of 1 year from the supply of the digital content or digital service. During this period, the consumer is only required to establish the existence of the lack of conformity and not the date on which it arose.
"The statutory warranty of conformity entails an obligation to provide all updates necessary to maintain the conformity of the digital content or digital service throughout its lifespan.
"The statutory warranty of conformity entitles the consumer to have the digital content or digital service brought into conformity without undue delay upon request, at no cost and without significant inconvenience to the consumer.
"The consumer may obtain a price reduction while retaining the digital content or digital service, or may terminate the contract and receive a full refund in exchange for relinquishing the digital content or digital service, if:
"1. The seller or provider refuses to bring the digital content or digital service into conformity;
"2. The bringing of the digital content or digital service into conformity is unduly delayed;
"3. Bringing the digital content or digital service into conformity cannot be achieved without costs to the consumer;
"4. Bringing the digital content or digital service into conformity causes significant inconvenience to the consumer;
"5. The lack of conformity of the digital content or digital service persists despite the trader's unsuccessful attempt to bring it into conformity.
"The consumer is also entitled to a price reduction or termination of the contract when the lack of conformity is so serious that it justifies an immediate price reduction or termination of the contract. In such cases, the consumer is not required to request that the digital content or digital service be brought into conformity beforehand.
"In cases where the lack of conformity is minor, the consumer is entitled to rescind the contract only if the contract does not provide for the payment of a price.
"Any period during which the digital content or digital service is unavailable for the purpose of bringing it into conformity suspends the warranty that remained in effect until the digital content or digital service is again in conformity.
"These rights arise from the application of Articles L. 224-25-1 through L. 224-25-31 of the Consumer Code.
"A business that in bad faith obstructs the enforcement of the legal warranty of conformity is liable to a civil fine of up to 300,000 euros, which may be increased to up to 10% of average annual turnover (Article L. 242-18-1 of the Consumer Code).
"The consumer is also entitled to the legal warranty against hidden defects pursuant to Articles 1641 through 1649 of the Civil Code, for a period of two years from the discovery of the defect. This warranty entitles the consumer to a price reduction if the digital content or digital service is retained, or to a full refund upon relinquishment of the digital content or digital service."
The Terms take effect upon acceptance by the User during the EQWIN account creation process on the Application, for an indefinite period subject to subsequent modifications, which will be brought to the User's attention via the Application and to which the User must give consent.
Detailed information on the processing of personal data and the User's data protection rights is set forth in the Privacy Policy, available at the following address.
The intellectual property rights associated with the Application and its operation, as well as the copyrights related to all documents and information stored, displayed, and accessible on the Application, are either the property of PMI Group or the property of duly authorized third parties, including the France Galop and Le Trot federations, in their use. All such rights are reserved.
PMI Group grants the User a revocable, non-transferable, and non-exclusive right of use to the extent necessary for the use of the Application and the Services, exclusively for the User's own personal needs, in accordance with the Terms. The User is authorized to download, print, temporarily store, retrieve, and display information from the Application solely for personal use.
The User may not decompile or disassemble the Application, reverse engineer the Application, or duplicate the Application, the Services, or any other element of the Application or the Services, whether in whole or in part.
The User is not authorized to use, adapt, or modify the Application or any part thereof. The information or any part thereof may not be copied, reproduced, republished, downloaded, posted, distributed, or transmitted in any other manner to third parties for commercial purposes or for any purpose other than that set forth in the Terms.
The France Galop and Le Trot federations have granted PMI Group the right to use images, data, and distinctive marks related to French horse races organized, directly or indirectly, by said federations for the purpose of designing and marketing digital Memorabilia. The France Galop and Le Trot federations are the sole and exclusive owners of the intellectual property rights, rights of use, exploitation, and enjoyment, of any kind and nature, attached to these images, data, and distinctive signs. These rights are not transferred to the User who purchases a digital Memorabilia.
To the extent necessary, it is hereby clarified that the France Galop and Le Trot federations shall in no event be held liable for any financial losses or damages suffered by Users.
If one or more provisions of the Terms are deemed invalid or declared as such pursuant to a legislative or regulatory provision or following a final judicial decision, the other provisions of the Terms shall remain in full force and effect and shall continue to be binding and enforceable.
PMI Group shall not be held liable for any delay or failure to perform its obligations under the Terms resulting from a cause beyond its control in accordance with Article 1218 of the Civil Code.
For any complaints regarding the use of the Services, the operation of the Application, or the User's account, the User may send an email to hello@eqwin.app .
We strive to respond to emails we receive as promptly as possible.
In the event of a disagreement or if the User files a complaint regarding our Services, we will attempt to resolve it amicably. We will inform the User of the outcome of our investigation into their complaint and give them the opportunity to discuss it with us.
If the User is not satisfied with how we have handled their complaint, they may then contact the mediator listed below.
In accordance with Articles L.616-1 and R.616-1 of the French Consumer Code, PMI Group has established a consumer mediation mechanism. The selected mediation entity is: SAS CNPM - MÉDIATION - CONSOMMATION.
In the event of a dispute, the User may file a complaint on the website: http://cnpm-mediation-consommation.eu or send it by mail to CNPM - MÉDIATION - CONSOMMATION - 27, avenue de la Libération – 42400 SAINT-CHAMOND.
In addition, any dispute may also be submitted to the European Commission's online dispute resolution platform: https://ec.europa.eu/consumers/odr/main/index.cfm?event=main.home.chooseLanguage
If the dispute has not been resolved via the European Commission's online dispute resolution platform, the User may contact the European Consumer Centre France: https://www.europe-consommateurs.eu/nous-contacter.html).
These Terms and Conditions are governed by French law.
Any dispute relating to the validity, interpretation, and performance of these Terms shall be submitted to the competent courts within the jurisdiction of the Paris Court of Appeal.
MANGOPAY PAYMENT SERVICES FRAMEWORK AGREEMENT
General Terms and Conditions for the Use of Payment Services
Version as of September 1, 2021
Entered into between:
The Customer, a legal entity or natural person registered with the RCS (or the National Trade Register or any equivalent professional body) in a Member State of the European Union or in a State party to the European Economic Area, or in a third country imposing equivalent obligations regarding the fight against money laundering and the financing of terrorism, acting on its own behalf exclusively for professional purposes (commercial, industrial, craft, or liberal professions),
hereinafter referred to as the "Holder" or "Professional Holder,"
or
The customer, a natural person residing in a Member State of the European Union or in a State party to the European Economic Area or in a third country imposing equivalent obligations regarding the fight against money laundering and terrorist financing, acting on their own behalf exclusively for non-professional purposes,
hereinafter referred to as the "Account Holder" or "Consumer Account Holder," on the one hand, and,
MANGOPAY SA, a public limited company under Luxembourg law, with its registered office at 2, Avenue Amélie, L-1125 Luxembourg, and registered in the Luxembourg Trade and Companies Register under number B173459 (the amount of the share capital can be viewed here: https://www.mangopay.com/fr/mentions-legales/), authorized to conduct business within the European Economic Area as an electronic money institution licensed by the Commission de Surveillance du Secteur Financier, 283 route d'Arlon L-1150 Luxembourg, www.cssf.lu,
hereinafter referred to as the "Service Provider," on the other hand,
hereinafter referred to individually as a "Party" or collectively as the "Parties."
Disclaimer
The Account Holder is advised to carefully read this Framework Agreement, which has been provided to them by the Platform, before accepting it. They are advised to download it onto a durable medium. By default, communications with the Service Provider are always conducted through the Platform, in accordance with the terms set forth in the Site's Terms and Conditions, unless a separate method of communication is provided for in the Agreement.
For the purposes hereof, the following terms are defined as follows:
The purpose of the Framework Agreement is to define the terms under which the Provider provides Payment Services to the Account Holder.
These Payment Services include:
The Account shall not be subject to any overdraft, advance, credit, or discount. The Service Provider does not offer any currency exchange services.
The Service Provider has authorized the Platform to facilitate the conclusion of this Agreement with each Account Holder and to support them throughout their relationship with the Service Provider.
The Framework Agreement is entered into remotely, in accordance with the terms set forth by the Platform in the Site's Terms and Conditions. To enter into the Framework Agreement online, the applicant must have the necessary equipment (hardware and software), for which they are solely responsible.
By default, acceptance of the Framework Agreement is carried out remotely via the Site and is confirmed by an electronic signature. The applicant has the option to request to sign the Agreement by hand. To do so, they must print this Agreement, sign it, and return it electronically or by mail to the Platform's Customer Service, whose contact information is provided in the Website's Terms and Conditions.
In the case of a handwritten signature, the date of conclusion of the Framework Agreement is deemed to be the date indicated on it, and in the absence of a date, it shall be deemed to be the date of receipt of the Framework Agreement by the Platform.
The electronic signature of the Framework Agreement is performed via the Site. The date of conclusion of the Framework Agreement corresponds to the date on which the applicant completes the electronic signature process indicated to them on the Site.
The Framework Agreement concluded between the Parties electronically has the same probative value as a Framework Agreement in paper form.
The Framework Agreement consists of:
These General Terms and Conditions for the Use of Payment Services are made available to the Account Holder on the Website and can be downloaded in a durable medium. At any time during the contractual relationship, the Account Holder may, upon request, receive these documents in paper form.
Any natural person at least eighteen (18) years of age who is legally competent and any legal entity, resident and/or registered in a Member State of the European Union or in a State party to the agreement relating to the European Economic Area or in a third country imposing equivalent obligations regarding the fight against money laundering and terrorist financing, may submit a request to open an Account, provided that the natural person is listed on the Site as a consumer or as a professional. A legal entity may only be listed as a professional.
The Account Holder declares, at the time of submitting their application for registration on the Platform and throughout the term of the Framework Agreement:
All prospective clients must submit to the Platform the information and documents listed below, using the Subscription Form, in the event that such information and documents are not already in the Platform's possession.
The prospective user agrees to provide the information and documents corresponding to their status, whether as a professional or a consumer.
For the Account Holder, a natural person acting as a consumer:
For the Holder who is a business:
The Account Holder may also be asked to provide a bank account identification statement for an account opened in their name with a Third-Party Payment Service Provider (PSP).
It is expressly provided that the Service Provider reserves the right to request, prior to any registration and at any time during the term of the Framework Agreement, additional documents concerning the Account Holder, the beneficial owner, or a specific payment transaction.
At the Provider's sole discretion, the use of a Payment Account may be restricted without the Provider being required to justify its decision to the Account Holder concerned. The operation of the Payment Account will be limited, in particular, if the Account Holder has not provided all the information and documents required by the Service Provider, as listed above. These limits are communicated to the Account Holder by the Platform.
After entering into the Framework Agreement, the Account Holder must provide all information and supporting documents requested by the Platform. By agreeing to the terms of the Framework Agreement, the Account Holder consents to the Platform forwarding to the Service Provider their application to register as an Account Holder and all supporting documents received by the Platform.
The Service Provider is the sole party authorized to accept a prospective user's registration as the holder of a payment account in their name. This approval will be notified to the Account Holder by the Platform by any means in accordance with the procedures set forth on the Site.
The Service Provider may, without justification and without any right to compensation for the Account Holder, refuse a request to open an Account. This refusal will be notified to the Account Holder by the Platform by any means in accordance with the procedures set forth on the Site.
The amounts credited to the Payment Account result from funds transferred by Card (or by any other Payment Method accepted by the Service Provider), or from the receipt of a wire transfer. Amounts debited from the Payment Account result from: the execution of a Payment Order to an account held with a third-party payment service provider, the Service Provider's collection of fees owed by the Account Holder under the Framework Agreement, or the reversal of a Card transaction (or by any other Payment Method).
The Payment Account may be funded via Card (or any other method accepted by the Provider), in one or more installments. When the User wishes to perform such a transaction, they must log in to the Site by entering their username (valid email address) and password or by logging in via their Facebook account. The funds transfer order is entered on a dedicated payment page. For any payment, the User may be asked to enter a one-time code sent to their mobile phone for the Card issuer. If necessary, the Service Provider may refuse any payment at its sole discretion, and such a decision shall not give rise to any compensation. The funds transfer transaction is executed by the Card-issuing institution. Any dispute regarding such a transfer must be notified to said institution. The Service Provider is not authorized to cancel such a transfer.
The Cardholder is informed that the Service Provider's acceptance of a payment order via Card does not guarantee that the corresponding funds will be received by the Cardholder in their Account. The crediting of funds to the Cardholder's payment account is contingent upon the Service Provider's actual receipt of the collected funds.
If the funds are not received for technical reasons, the Service Provider will make every effort to resolve the issue. If the funds are not received for any other reason, the Service Provider will promptly inform the Account Holder that it is unable to credit the expected amount to their Account, so that they may contact the User.
In the event that the transfer of funds from the Cardholder's Account is reversed by the Card issuer following a dispute by the User, the Cardholder agrees that the Service Provider may reverse any Card-based funds transfer transaction by debiting the corresponding amount from the Payment Account. The Account Holder acknowledges that such a dispute may be brought to the attention of the Card issuer up to a maximum period of thirteen (13) months following the date of debit from the account associated with said Card. If there are insufficient funds in the Account to process such a reversal, the Service Provider may suspend or cancel any payment transaction initiated by the Account Holder or an authorized representative, or, where applicable, subrogate itself to the rights of the Account Holder and recover the amounts owed by the User by any means.
The Account Holder authorizes the Service Provider to receive SEPA transfers in euros on their Payment Account from a bank or payment account held with a third-party PSP.
The funds are credited to the Account Holder's Payment Account by the Service Provider as soon as possible following their actual receipt by the Service Provider.
After the funds have been credited to the Account Holder's Payment Account, the Service Provider provides the Account Holder with a summary of the received transfer transaction, including the following information: the payment transaction reference, a reference identifying the payer, the transaction amount, and the credit value date.
The Account Holder may submit SEPA or international transfer orders to a Beneficiary's account held by a third-party PSP.
When the Account Holder wishes to make a transfer transaction, they log in to their Personal Area by entering their login credentials and, if necessary, following the authentication procedure provided. On the Payment Page, the Account Holder specifies: the amount of the payment transaction, the currency, the payment account to be debited, the execution date of the Order, and any other required information. If no date is specified, the transfer order is deemed to be immediate. The Account Holder must also follow the authentication procedure indicated by the Service Provider.
The Account Holder may at any time submit a request to execute a Transfer Order to a Beneficiary designated by them who holds a bank or payment account with a third-party payment service provider. The Account Holder must provide the reason for each transfer and follow the Authentication procedure specified by the Service Provider.
The Account Holder gives his irrevocable consent to the Payment Order by clicking on the "Confirm" tab ("Date of Receipt"). Receipt of the Payment Order is confirmed in the Account Holder's Personal Area. No Order may be withdrawn by the Account Holder after the date on which it is deemed irrevocable, i.e., as of the Receipt Date.
Before submitting a transfer order, the Account Holder (or the Platform acting on their behalf) must ensure that they have sufficient available funds in their Account to cover the amount of the payment transaction. If necessary, they must credit their Account before the order can be validly submitted to the Service Provider for execution.
It is expressly agreed that Payment Orders will be executed no later than the end of the Business Day following the Date of Receipt of the Order by the Service Provider (and on the agreed execution date for scheduled or recurring transfers). Any payment order received after 4:00 p.m. by the Service Provider is deemed to have been received on the following Business Day. If the Date of Receipt is not a Business Day, the payment order is deemed to have been received on the following Business Day.
For each transfer transaction, the Account Holder may request that the Service Provider provide, on a durable medium, information regarding the maximum execution time for that specific transaction, the fees the Account Holder must pay, and, where applicable, a breakdown of those fees.
The Service Provider may refuse to execute an incomplete or erroneous Transfer Order. The Account Holder must resubmit the Order to bring it into compliance. The Service Provider may, furthermore, block a transfer order in the event of serious suspicion of fraudulent use of the Account, unauthorized use of the Account, a breach of the Account's security, in the event of an asset freeze order by an administrative authority, or for any other reason.
If a transfer order is refused or blocked, the Service Provider shall notify the Account Holder by any means. The Service Provider shall, where possible, inform the Account Holder of the reasons for the refusal or blocking, unless prohibited by a relevant provision of national law or European Union law.
The Account Holder may at any time submit an instruction to cancel a funds transfer in order to refund a User. The Account Holder logs in to the Site by entering their username and password. In their Personal Account, they specify the refund amount, the currency, the User to be refunded, and any other required information.
The refund transaction is carried out by the Service Provider by crediting the Card used by the User or by bank transfer in accordance with the original payment terms, subject to the available balance in the Account and the rules of each network and SEPA rules, within five (5) Business Days of the Service Provider's receipt of the refund request.
The Account Holder has access in their Personal Area to a statement of payment transactions carried out on the Payment Account. They are advised to carefully review the list of these transactions. Transaction statements may also, upon express request, be made available to the business Account Holder at a different frequency.
It is specified that for each transfer transaction executed by the Service Provider, the Account Holder will have access to the following information: the transaction reference, the Beneficiary's identification, the transaction amount, the date the Order was received, and, where applicable, the fees related to the execution of this transaction.
The Payment Account is accessible online in the Personal Area, using Login Credentials and in accordance with the required Authentication procedure.
The Account Holder must provide Login Credentials for each Authorized Person. Each Authorized Person agrees not to use another person's name or Login Credentials. The Account Holder is solely responsible for any use of their Login Credentials.
Each Authorized Person is fully responsible for maintaining the confidentiality of their Login Credentials. The Account Holder must take all reasonable measures to preserve the confidentiality and security of their Login Credentials.
The Account Holder (and each Authorized Person) agrees not to disclose their Login Credentials to third parties.
The Account Holder must notify the Platform of the loss or theft of their Login Credentials, or of any misuse or unauthorized use of their Personal Account or related data, as soon as they become aware of it, in order to request that the account be blocked. This notification must be made:
The Service Provider, through the Platform, will immediately process the request for opposition.
The Service Provider shall not be held liable for the consequences of an objection sent by fax or email that does not originate from the Account Holder.
A request to opt out is deemed to have been made on the date and at the time of actual receipt of the request by the Platform. In the event of theft of the Identification Data or fraudulent use of the Personal Area, the Service Provider is authorized to request, via the Platform, a receipt or a copy of the police report from the Account Holder, who agrees to respond as soon as possible.
The Service Provider reserves the right to block the Payment Account, for objectively justified reasons relating to the security of the Payment Account, a suspicion of unauthorized or fraudulent use of the Payment Account, or a significantly increased risk that the Account Holder will be unable to fulfill their obligation to pay the fees due under this Framework Agreement.
For any complaint regarding Payment Transactions executed by the Service Provider under these Terms, the Account Holder is asked to contact the Platform's Customer Service or to send an email to the address specified for this purpose in the Site's Terms and Conditions.
If an Order is executed by the Service Provider with errors due to the Service Provider's fault, the dispute is forwarded to the Service Provider as soon as possible, the Order is canceled, and the Account is restored to the status it was in prior to receipt of the Payment Order. Subsequently, the Order is re-submitted correctly.
A Business Account Holder wishing to dispute a transfer transaction that was not authorized by them or was executed incorrectly must contact the Platform's Customer Service by phone as soon as possible after becoming aware of the discrepancy and no later than eight (8) weeks after the transaction was posted to the account, with the Platform being responsible for forwarding the dispute to the Service Provider as soon as possible. Unless the Service Provider has good reason to suspect fraud on the part of the Account Holder, the Service Provider shall reimburse the Account Holder for the amount of the Transaction immediately upon receiving the dispute request, and in any event no later than the end of the first following Business Day. The Service Provider shall restore the Account to the state it would have been in had the unauthorized payment transaction not taken place.
In the event of loss or theft of the Identification Data, unauthorized Transactions carried out prior to notification of the cancellation are the responsibility of the Account Holder. Transactions carried out after the cancellation are borne by the Service Provider, except in cases of fraud by the Account Holder.
A Consumer Account Holder who wishes to dispute a transfer transaction that was not authorized by them or was executed incorrectly must contact the Platform's Customer Service by phone as soon as possible after becoming aware of the issue and no later than thirteen (13) months following the debit date, with the Platform being responsible for forwarding the dispute to the Service Provider as soon as possible. Unless the Service Provider has good reason to suspect fraud on the part of the Account Holder, the Service Provider shall reimburse the Account Holder for the amount of the Transaction immediately upon receiving the dispute request, and in any event no later than the end of the first following Business Day. The Service Provider shall restore the Account to the state it would have been in had the unauthorized payment transaction not taken place.
In the event of a dispute, the burden of proof that the Transaction was authenticated, properly recorded, and posted, and that it was not affected by a technical or other failure, rests with the Service Provider.
In the event of an unauthorized payment transaction resulting from the loss or theft of the Identification Data, the Account Holder shall bear, prior to notification of the cancellation, any losses related to the use of the Identification Data, up to a maximum limit of fifty (50) euros. Transactions carried out after the cancellation are borne by the Service Provider except in cases of fraud by the Cardholder. However, the Cardholder is not liable in the event of:
The Account Holder is also not liable:
The Cardholder bears all losses resulting from unauthorized Transactions if such losses result from fraudulent conduct on their part or if they have intentionally, or through gross negligence, failed to fulfill their obligations to maintain the security of their Identification Data and to report the loss, theft, or misappropriation of such Data.
All fees owed by the Account Holder to the Platform are automatically deducted from the Payment Account by the Service Provider. The Account Holder authorizes the Service Provider to set off at any time, including after the closure of the Account, any certain, liquid, and due claim that remains outstanding, for any reason whatsoever. The Service Provider may set off the funds in the Payment Account against any amount owed, due, and unpaid by the Account Holder to the Service Provider.
The Framework Agreement is entered into for an indefinite term. It takes effect upon acceptance by the Account Holder.
The Account Holder may terminate the Framework Agreement at any time, provided that thirty (30) calendar days' notice is given. The Service Provider may terminate the Framework Agreement at any time, provided that two (2) months' notice is given in writing. In this case, the fees regularly charged for the Payment Services shall be payable by the Account Holder on a pro-rata basis for the period elapsed up to the date of termination.
To do so, each Party must send its notice of termination of this Agreement to the other Party by registered letter with acknowledgment of receipt to the postal and email addresses indicated in the Site's Terms and Conditions.
Consequently, the entire Framework Agreement is terminated and the Payment Account is closed. The balance of the Account will be transferred within thirteen (13) months to the Account Holder's bank account after deduction of the fees due and payable to the Service Provider.
In the event of serious breaches, fraud, or unpaid amounts on the part of the Account Holder, the Service Provider reserves the right to suspend or terminate this Agreement by sending an email accompanied by a registered letter with acknowledgment of receipt without cause or notice.
It is provided that the Framework Agreement shall be automatically terminated in the event of new circumstances affecting a Party's ability to perform under this Agreement.
The Service Provider reserves the right, at any time, to amend the Framework Agreement. Any proposed amendment to the Framework Agreement shall be provided to the Account Holder by the Platform.
Any Account Holder may reject the proposed amendments and must notify the Platform's Customer Service of such rejection by registered letter with acknowledgment of receipt two (2) months prior to the effective date of the proposed amendments (postmark serving as proof) to the address indicated in the Site's Terms and Conditions.
Failing to notify their refusal before the specified effective date, the Account Holder is deemed to accept the proposed amendments. The relationship between the Parties after the effective date will then be governed by the new version of the Framework Agreement.
In the event of refusal by the Account Holder, such refusal shall result, at no cost, in the termination of the Framework Agreement, as well as the transfer of the balance of the Payment Account within thirteen (13) months following the effective date of termination to cover any future disputes.
Any legislative or regulatory provisions that would necessitate the amendment of all or part of the Framework Agreement shall be applicable as of their effective date, without prior notice. The Account Holder shall, however, be informed thereof.
The Service Provider undertakes to provide its services in compliance with applicable laws and regulations and best practices. In particular, the Service Provider will make every effort to ensure the security and confidentiality of Account Holders' data, in accordance with applicable regulations.
The Service Provider reserves the right to temporarily suspend access to the Online Account for technical, security, or maintenance reasons without such actions giving rise to any right to compensation. The Service Provider undertakes to limit such interruptions to what is strictly necessary.
However, the Service Provider shall not be held liable to the Account Holder for any errors, omissions, interruptions, or delays in operations carried out via the Site resulting from unauthorized access to the Site. Furthermore, the Service Provider shall not be held liable for theft, destruction, or unauthorized disclosure of data resulting from unauthorized access to the Site. Furthermore, the Service Provider remains uninvolved in the legal relationship between the Account Holder and a User or between the Account Holder and the Site. The Service Provider shall not be held liable for any faults, breaches, or negligence of a User and the Account Holder toward one another, or of the Site and the Account Holder toward one another.
If the unique identifier or any other information necessary for the execution of a payment transaction provided by the Account Holder is inaccurate, the Service Provider is not liable for the improper execution of said Service.
The Platform is solely responsible for the security and confidentiality of data exchanged in connection with the use of the Site in accordance with the Site's Terms and Conditions, while the Service Provider is responsible for the security and confidentiality of the data it exchanges with the Account Holder under this Agreement in connection with the creation and management of the Account, as well as the payment transactions associated with the Account.
The Service Provider does not intervene in any way in the legal and commercial relationships or any disputes arising between the Account Holder and the User, or between the Account Holder and the Platform, or between the Account Holder and a Beneficiary. The Service Provider exercises no control over the compliance, security, legality, characteristics, and suitability of the products and services that are the subject of a Payment Transaction.
Each transaction carried out by the Account Holder gives rise to a contract formed directly between the Account Holder and a User, to which the Service Provider is not a party. Consequently, the Service Provider cannot be held liable for the non-performance or improper performance of the resulting obligations, nor for any damages caused to the Account Holder.
Notwithstanding any provision to the contrary in this Agreement, the Service Provider's liability toward a Holder is limited to compensation for direct damages as provided by applicable regulations.
The Account Holder warrants that no element of their Personal Space infringes upon the rights of third parties or is contrary to the law, public order, or public decency.
The Account Holder agrees not to:
(i) Perform the Framework Agreement in an unlawful manner or under conditions likely to damage, disable, overload, or impair the site;
(ii) Impersonate another person or entity, falsify or conceal their identity or age, or create a false identity;
(iii) Disclose personal data or information relating to a third party, such as postal addresses, telephone numbers, email addresses, credit card numbers, etc. In the event of a breach of these obligations, the Service Provider may take any appropriate measures to put an end to the conduct in question. It shall also be entitled to suspend, delete, and/or block the Account Holder's access to their Account.
(iv) Without prejudice to legal actions brought by third parties, the Service Provider is entitled to bring any legal action in its own name to seek compensation for any damages it may have personally suffered as a result of the Account Holder's breach of its obligations under this Agreement.
If the Account Holder becomes aware of a breach of the aforementioned obligations, they are invited to inform the Service Provider of such conduct by contacting them at: legal@mangopay.com.
Pursuant to Article L222-7 of the French Consumer Code, the Consumer Holder has a right of withdrawal that may be exercised within a period of 14 (fourteen) days without having to provide a reason or incur a penalty. This withdrawal period begins either on the day the Framework Agreement is concluded or upon receipt of the contractual terms and conditions, if the latter date is later than the date of conclusion of the Framework Agreement. The Framework Agreement may not be performed prior to the expiration of the withdrawal period without the Consumer Account Holder's consent. The Consumer Account Holder acknowledges that the use of the Payment Services after the conclusion of the Framework Agreement shall constitute an express request on their part to commence performance of the Framework Agreement before the expiration of the aforementioned period. Exercising the right of withdrawal results in the termination of the Framework Agreement, which, if performance has already begun, takes the form of a cancellation and does not affect services previously provided. In this case, the Consumer Account Holder shall be liable only for proportional payment for the Services actually provided.
The Account Holder must notify the Platform's Customer Service of their request to withdraw within the allotted timeframe by phone or email and send a confirmation letter to the Platform's Customer Service address. To this end, they may use the withdrawal form provided by the Platform.
The Service Provider is subject to all Luxembourg and French regulations relating to the fight against money laundering and terrorist financing.
Pursuant to the provisions of French and Luxembourg law regarding the participation of financial institutions in the fight against money laundering and the financing of terrorist activities, the Service Provider is required to obtain information from each Account Holder, for any transaction or business relationship, regarding the origin, purpose, and destination of the transaction or the opening of the Account. The Service Provider must also take all necessary steps to identify the Account Holder and, where applicable, the beneficial owner of the Account and/or the payment transactions associated with it.
The Account Holder acknowledges that the Service Provider may terminate or suspend at any time the use of identification data, access to an Account, or the execution of a Transaction in the absence of sufficient information regarding its purpose or nature. The Account Holder is informed that a transaction carried out under these terms may be subject to the exercise of the right to disclosure by the national financial intelligence unit.
The Account Holder may, in accordance with regulations, access all information thus disclosed, provided that this right of access does not undermine the purpose of combating money laundering and the financing of terrorism when such data pertains to the applicant.
No legal proceedings or civil liability actions may be brought, nor may any professional sanctions be imposed against the Service Provider, its officers, or its employees who have made suspicious activity reports in good faith to their national authority.
The Service Provider collects and processes all Personal Data in accordance with the applicable regulations governing the protection of such Data, and in particular with Law No. 78-17 of January 6, 1978, as amended, and with European Regulation 2016/679 of the European Parliament and of the Council of April 27, 2016.
The Personal Data required during registration is necessary for the provision of services in accordance with these terms. If mandatory Personal Data is not provided, the applicant may be denied access to the services.
The Data Subject is informed that Personal Data is collected, in particular, for the following purposes: the provision of services as described herein; the fight against money laundering and terrorist financing; the processing of requests for information and complaints; and the compilation of statistics. Such processing is necessary, in particular, for the performance of the Framework Agreement as well as for compliance with legal obligations to which the data controllers are subject. The Service Provider and the Platform act as joint data controllers for such processing.
Personal Data will not be disclosed to any third party without the express consent of the Data Subjects. However, the Data Subject is informed that Personal Data is disclosed to the Service Provider's processors for the purposes set forth above. Such processors will act only on the Service Provider's instructions and exclusively on its behalf.
The Data Subject may access the list of processors by submitting a request to the platform's Customer Service. The Data Subject is informed that the Service Provider ensures its processors take all necessary measures to safeguard the security and confidentiality of Personal Data. In the event of a data breach (loss, intrusion, destruction, etc.) involving high risks to the Data Subject, the latter will be notified.
The Service Provider reserves the right to disclose Personal Data upon request by a legal authority to comply with any applicable law or regulation, to protect or defend the rights of the Account Holder or a Data Subject, if compelling circumstances justify it, or to protect the safety of the Account Holder, the Services, or the public.
Personal Data processed by the Service Provider in connection with the services provided in accordance with these terms is retained for the period strictly necessary to achieve the purposes mentioned above. Unless otherwise required by law or regulation, the Data will not be retained beyond the effective date of the termination of the Contract. It is specifically noted that Personal Data relating to identification is retained for a period of five years from the end of the contractual relationship, pursuant to applicable regulations regarding the fight against money laundering and the financing of terrorism.
Data subjects have the following rights regarding their Data, in accordance with the terms set forth and as required by law: the right of access, the right to rectification, the right to object, the right to erasure, the right to restrict processing, and the right to data portability. A Data Subject may exercise their rights at any time by contacting the Platform's Customer Service. Their request must include their last name, first name, and username, and be accompanied by a photocopy of a signed identification document.
A response will be sent to the Data Subject within one (1) month of receiving their request. This period may be extended by two (2) months, depending on the complexity and number of requests. In this case, the Data Subject will be informed of the extension and the reasons for the delay within one (1) month of receipt of the request.
The Data Subject is informed that they have the right to file a complaint with the competent authority regarding any request related to their Personal Data.
If the Data Subject submits their request electronically, the response will be provided electronically, unless they expressly request otherwise.
When the Personal Data pertains to a Data Subject who is not a party to the Framework Agreement and has been transmitted by the Data Controller, the latter shall ensure that the Data Subject is provided with the information set forth in this article.
Additional information regarding the processing of Personal Data carried out under these terms, retention periods, and the rights of Data Subjects is available in the Service Provider's privacy policy (accessible at www.mangopay.com).
The Service Provider is bound by professional secrecy. However, this secrecy may be waived, in accordance with applicable law, pursuant to a legal, regulatory, or prudential obligation, particularly at the request of supervisory authorities, tax or customs authorities, as well as at the request of a criminal court or in the event of a judicial order served on the Service Provider. Notwithstanding the foregoing, the User has the right to release the Service Provider from professional secrecy by expressly indicating to the Service Provider the third parties authorized to receive confidential information concerning the User.
It is specified that professional secrecy may be waived by operation of law in favor of companies providing the Service Provider with significant operational tasks within the scope of this Agreement.
The Service Provider retains full ownership of all titles and property rights of any kind attached to the Services offered to the Account Holder. None of these property rights are transferred to the Account Holder under this Agreement.
The Account Holder's death terminates the Framework Agreement as soon as the Service Provider is notified thereof. Transactions occurring after the death are, unless agreed upon by the beneficiaries or the notary handling the estate, considered unauthorized.
The Payment Account remains open for the time necessary to settle the estate, and the Service Provider ensures the settlement of the balance with the consent of the beneficiaries or the notary in charge of the estate.
Any inactive Account may be subject to an inactivity notification via email from the Service Provider, followed by a reminder one month later. The Account Holder's Payment Account is considered inactive when, after a period of twelve (12) months, it has not been the subject of any transaction (excluding the deduction of management fees) initiated by the Account Holder (or any authorized representative) and the Account Holder has not contacted the Service Provider in any form whatsoever.
In the absence of a response or use of the balance credited to the Account within this period, the Service Provider may close the Account and maintain it for the sole purpose of transferring the amounts due to the account specified by the Account Holder. In the event of death, the balance may only be refunded to the Account Holder's beneficiaries.
The Account will no longer be able to be used to execute payment transactions.
The Parties shall not be held liable, nor shall they be deemed to have breached this Agreement, in the event of a delay or failure to perform, where such delay or failure is attributable to force majeure as defined in Article 1218 of the Civil Code.
If any provision of this Agreement is held to be void or unenforceable, it shall be deemed not to have been written and shall not result in the invalidity of the other provisions.
If one or more provisions of this Agreement become void or are declared as such pursuant to a law, regulation, or following a final decision rendered by a competent court, the other provisions shall remain in full force and effect. The provisions declared null and void shall then be replaced by provisions that most closely approximate the meaning and scope of the provisions originally agreed upon.
The Holder's funds are deposited, at the end of the Business Day following the day on which they were received by the Service Provider, into a segregated account opened in the books of a Bank in accordance with the conditions required by regulation.
Pursuant to Article 24-10(5) of the Law of May 20, 2011, published in the Mémorial A No. 104 of May 24, 2011, of the Grand Duchy of Luxembourg, and Article 14 of the Law of November 10, 2009, published in the Mémorial A No. 215 of November 11, 2009, of the Grand Duchy of Luxembourg, transposing Directive 2009/110/EC of the European Parliament and of the Council of September 16, 2009, on access to the business of electronic money institutions, the funds collected are protected and do not form part of the assets of the electronic money institution in the event of liquidation, bankruptcy, or any other financial distress of the latter.
The Framework Agreement may not be assigned in whole or in part by the Account Holder, whether for consideration or free of charge. It is therefore prohibited to assign to a third party any of the rights or obligations arising hereunder. In the event of a breach of this prohibition, in addition to the immediate termination of this Agreement, the Holder may be held liable by the Service Provider.
All data recorded in an unalterable, reliable, and secure manner in the Service Provider's computer database, relating in particular to Payment Orders and notifications sent, shall be deemed authentic between the Parties until proven otherwise.
The Account Holder is invited to contact the Platform's Customer Service, as indicated on the Site, for any complaints.
Any complaint other than those provided for in Article 10 concerning the conclusion, performance, or termination of the Framework Agreement must be submitted by email to the following address: complaint@mangopay.com.
The Account Holder agrees that the Service Provider may respond to their complaints via a durable medium. The response will be sent as soon as possible and no later than fifteen (15) Business Days following the Service Provider's receipt of the complaint. However, for reasons beyond its control, the Service Provider may be unable to respond within this fifteen (15)-day period.
In such a case, the Service Provider will notify the Account Holder of a response specifying the reasons for this additional delay as well as the date on which it will send the final response. In any event, the Account Holder will receive a final response no later than thirty-five (35) Business Days following receipt of the complaint.
The Account Holder is hereby informed that the CSSF (Commission de Surveillance du Secteur Financier) has jurisdiction to resolve, on an out-of-court basis, disputes relating to the performance of this Framework Agreement. For more information about the CSSF and the conditions for such a recourse, you may contact the Platform's Customer Service or visit the CSSF's website (http://www.cssf.lu). Requests for mediation must be addressed to the Mediator of the Commission de Surveillance du Secteur Financier (CSSF), 283 route d'Arlon, L-1150 Luxembourg, (direction@cssf.lu), without prejudice to other legal remedies. However, the mediator may not be approached if the request is manifestly unfounded or abusive, if the dispute has previously been examined or is currently under examination by another mediator or by a court, if the request to the mediator is submitted more than one year after the written complaint to the professional, or if the dispute falls outside the mediator's jurisdiction.
Except in the case of the application of a public policy law (which shall apply only within the strict limits of its purpose), it is expressly stipulated that the Framework Agreement is governed by French law. Any dispute between the Parties arising therefrom shall be subject to the jurisdiction of the competent French courts.