Terms of Service

1. Introduction & Acceptance

Welcome to Covered. These Terms of Service ("Terms") govern your access to and use of the Covered platform, including our website, applications, and services (collectively, the "Services"). By accessing or using our Services, you agree to be bound by these Terms.

If you are using our Services on behalf of a business or entity, you represent that you have the authority to bind that entity to these Terms.

Eligibility

To use our Services, you must be at least 18 years old, capable of forming a binding contract, and not prohibited from using the Services under applicable law. Our Services are intended for business use and are not available to individuals in jurisdictions where such services are prohibited.

2. Service Description

Covered provides an invoice processing and payment platform that enables businesses to:

• AI Invoice Processing: Automatically extract and organize invoice data from emails and documents
• Cryptocurrency Payments: Pay invoices using USDC stablecoins on supported blockchain networks
• Fiat Off-Ramp: Convert stablecoin payments to USD for vendor bank deposits

We reserve the right to modify, suspend, or discontinue any aspect of our Services at any time with or without notice.

3. Account Registration & Security

Account Information

You agree to provide accurate, current, and complete information during registration and to update such information to keep it accurate. You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.

Account Security

You are responsible for safeguarding your account credentials and monitoring your account for unauthorized access. You must notify us immediately of any unauthorized use of your account or any other breach of security.

Identity Verification

To comply with applicable Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, we may require you to provide identity verification documents. You agree to cooperate with these verification processes and acknowledge that failure to complete verification may limit your access to certain features.

4. Wallet & Payment Terms

External Wallets

Our Services allow you to connect external cryptocurrency wallets that you own and control. We do not take custody of your cryptocurrency assets. You are solely responsible for the security of your wallet private keys and seed phrases.

Payment Processing

When you initiate a payment through our platform, you authorize the transfer of USDC from your connected wallet. All blockchain transactions are irreversible once confirmed. You are responsible for verifying transaction details before confirming any payment.

Fiat Off-Ramp Services

Fiat conversion and bank transfer services are provided through our payment processing partners and are subject to their respective terms and conditions. We are not responsible for delays, failures, or issues arising from third-party payment processing.

Transaction Fees

You are responsible for any network fees (gas fees) associated with blockchain transactions. Additional service fees may apply to certain transactions and will be disclosed before you confirm the payment.

5. Fees and Taxes

Current fee schedules are available within the platform. We reserve the right to change our fees at any time with reasonable notice. You are solely responsible for determining and paying any taxes applicable to your use of our Services, including cryptocurrency transactions.

6. Prohibited Uses

You agree not to use our Services for:

• Illegal activities or in violation of any applicable laws or regulations
• Money laundering, terrorist financing, or sanctions evasion
• Fraud, deception, or misrepresentation
• Operating restricted business types including gambling, adult content, weapons, or controlled substances
• Circumventing any security or access controls
• Interfering with or disrupting our Services or servers

Politically Exposed Persons

Politically Exposed Persons (PEPs) and their immediate family members or close associates may be subject to enhanced due diligence or may be restricted from using certain features of our Services.

7. Trade Controls & Compliance

You represent that you are not located in, under the control of, or a national or resident of any country subject to United States sanctions, and that you are not on any U.S. Government restricted parties list. You agree to comply with all applicable export control, sanctions, and trade laws.

8. Intellectual Property

Our Property

The Services, including all content, features, and functionality, are owned by Covered and are protected by copyright, trademark, and other intellectual property laws. We grant you a limited, non-exclusive, non-transferable license to use our Services in accordance with these Terms.

Your Content

You retain ownership of content you submit to our Services. By submitting content, you grant us a worldwide, non-exclusive, royalty-free license to use, process, and store that content to provide our Services.

Restrictions

You may not reverse engineer, decompile, disassemble, or otherwise attempt to derive the source code of our Services, except as permitted by applicable law.

9. Disclaimers

THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

We do not guarantee that our Services will be uninterrupted, secure, or error-free. We are not responsible for any losses arising from blockchain network issues, including network congestion, forks, or protocol changes.

Cryptocurrency values are highly volatile. We make no representations regarding the value, stability, or future availability of any cryptocurrency or blockchain network.

10. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, COVERED SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS OR REVENUES, WHETHER INCURRED DIRECTLY OR INDIRECTLY, OR ANY LOSS OF DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES.

Our total liability for any claims arising out of or related to these Terms or our Services shall not exceed the greater of (a) the fees you paid to us in the 12 months preceding the claim, or (b) $100.

11. Indemnification

You agree to indemnify, defend, and hold harmless Covered and its officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses, including reasonable attorneys' fees, arising out of or in any way connected with your access to or use of our Services, your violation of these Terms, or your violation of any third-party rights.

12. Suspension & Termination

We reserve the right to suspend or terminate your access to our Services at any time, with or without cause, and with or without notice. Reasons for suspension or termination may include, but are not limited to, violation of these Terms, suspected fraud, legal or regulatory requirements, or prolonged inactivity.

You may terminate your account at any time by contacting us. Upon termination, you remain responsible for any pending transactions and obligations incurred prior to termination.

13. Dispute Resolution

Governing Law

These Terms shall be governed by and construed in accordance with the laws of the State of Delaware, United States, without regard to its conflict of law provisions.

Binding Arbitration

Any dispute, controversy, or claim arising out of or relating to these Terms or our Services shall be resolved by binding arbitration administered in Dover, Delaware. The arbitration shall be conducted in English.

Class Action Waiver

YOU AGREE THAT ANY CLAIMS WILL BE BROUGHT IN YOUR INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. You waive any right to a jury trial.

14. Changes to Terms

We may modify these Terms at any time. We will provide notice of material changes by posting the updated Terms on our website and updating the "Last updated" date. Your continued use of our Services after any changes constitutes your acceptance of the new Terms.

15. Contact Us

If you have any questions about these Terms, please contact us at: