Legal

1. Scope

These Terms and Conditions (hereinafter, the “Terms”) govern the use of the mobile application called AVANZA, owned by AVANZACAPITAL S.A.S., a platform through which payroll collection rights may be assigned within an employee-employer relationship (hereinafter, the “Platform”).

The Platform has been designed so that the employee (hereinafter, the “User/s”) can make requests, operations, and transactions immediately and on a self-managed basis, without the need for additional procedures other than those provided for within the Platform itself. Its purpose is to allow the User to access, in an agile manner and in accordance with the conditions established therein, the assignment of the User's payroll collection rights, under the terms, limits, deadlines, and manner determined in the Platform and in these Terms.

Accordingly, all transactions carried out by Users on the Platform, as well as their legal effects, shall be governed by these Terms and subject to the applicable legislation of Ecuador. If the User uses the Platform, this means that the User has fully accepted the conditions established herein and expressly undertakes to comply with them, as well as with the provisions set forth in the other documents that the User must sign on the Platform, which documents form an integral part hereof. For its part, the Platform undertakes to provide the services under the conditions stipulated in this document.

2. Capacity

Only employees of the legal entities that have executed a valid agreement with AVANZA may use the Platform, provided that they maintain an active and valid employment relationship with such legal entity at the time of making any request, operation, or transaction within the Platform.

Access to and use of the Platform is conditioned upon the User complying with the requirements established in these Terms, as well as with the internal validations required to confirm the User's current employment relationship and eligibility to access the services offered through the Platform.

3. Registration and permitted uses

For the initial activation and operation of the Platform, the employer shall provide AVANZA with the information necessary to register, identify, validate, configure, and enable the employee as a potential user of the Platform. This information shall be used solely to allow the User to access the Platform, to verify the User's current employment relationship, and to enable the functionalities necessary for the User to make the requests, operations, or transactions permitted under these Terms.

The User must register on the Platform and provide the information requested. Once registration has been completed, the User must generate a PIN, which shall function as an authentication mechanism to access and use the Platform. In addition, the Platform may require an authentication factor through an OTP code sent to the mobile device registered by the User.

The User may also, if the User so wishes and provided the User's device allows it, access the Platform through the biometric registration enabled on the User's device, without the need to enter the PIN on each access.

The PIN, the OTP code, and any authentication mechanism used shall be personal, confidential, and non-transferable, and their disclosure, sharing, or misuse shall not give rise to any liability for the Platform or for Avanza.

The User shall be responsible for all operations carried out on the Platform. The User undertakes to immediately notify, through the communication channels described in this document, any unauthorized use of the User's account.

It is clarified that the sale, assignment, or transfer of the account is prohibited. Accordingly, the User undertakes to use the Platform in a manner that does not violate internet usage and etiquette standards or Ecuadorian law.

The Platform may reject, suspend, or decline to process any request, operation, or transaction that does not comply with the applicable policies, parameters, or conditions, including, without limitation, maximum permitted amounts, frequency of use, available limits, internal validations, conditions defined by the employer, or any other operational criteria established for the proper functioning of the Platform, without this giving rise to any right to compensation or indemnification in favor of the User.

4. User responsibilities

The User's obligations are as follows, without prejudice to others detailed in these Terms or arising from the contractual relationship between the parties:

1. To provide truthful and up-to-date information related to the User's personal data.
2. To make appropriate use of the Platform, including the User's PIN and any other data necessary for its operation.
3. To assume responsibility for the use of the Platform, as well as for the transactions carried out.
4. To maintain the confidentiality of the User's access credentials, PIN, passwords, security codes, or any other authentication mechanism, being responsible for their custody and for the use made of them.

5. Intellectual Property

The content displayed on the Platform, such as, for example, trademarks, logos, slogans, data, texts, graphics, images, photographs, source codes, audio and video clips, logotypes, icons, programs, or others, which allow the User to access and use the User's account, are owned by the Platform and are protected by local laws and international treaties on copyright, trademarks, patents, industrial models, and designs. Misuse and total or partial reproduction of such content are prohibited, and the Platform and Avanza reserve the right to initiate any legal action they deem appropriate.

6. Modifications to the Terms

These Terms may be modified at any time by publishing the modifications on the Platform. If the User does not accept the changes, the contractual relationship shall be deemed terminated, and the User shall be disabled as a User, whenever possible.

7. System or operational failures

The Platform is not liable for any damage, harm, or loss caused by failures in the Platform, the server, or the Internet. The Platform shall also not be liable for any virus that may infect the User's device as a result of access to and use of the Platform.

The User may not hold the Platform or Avanza liable, nor demand payment for consequential damages or lost profits, arising from harm resulting from technical difficulties or failures in the systems or the Internet.

The Platform and Avanza do not guarantee continuous or uninterrupted access to and use of the application. The system may occasionally be unavailable due to technical difficulties or Internet failures, or due to any other circumstance beyond the control of the Platform and Avanza; in such cases, efforts will be made to restore it as quickly as possible, without this giving rise to any liability.

The Platform and Avanza shall not be liable for any error or omission contained in their application.

The Platform has internal policies for processing requests and transactions. As a general rule, transactions will be processed within a term of twenty-four (24) hours from the time of the request.

However, such term may be extended when there are causes beyond the Platform's control, including, without limitation, inconveniences or delays attributable to financial institutions, holidays, weekends, non-business hours, operational restrictions of the financial system, or processing policies applicable by third parties.

Accordingly, compliance with the indicated term shall not depend exclusively on the Platform, and the Platform shall therefore not be liable for delays arising from circumstances beyond its control.

8. Protection of personal data

The processing of personal data carried out on the Platform is strictly limited to what is necessary to process requirements, requests, inquiries, and other actions. In order to use the application, the User's employer provides certain personal data solely for the registration and identification process, for which there is an express authorization given by the User to the User's employer.

If the User has questions related to the processing of the User's personal data or wishes to exercise the rights to which the User is entitled, the User must refer to the Privacy Policy.

The Platform shall retain the User's personal data for the time necessary to fulfill the purposes mentioned above, as well as to comply with legal, contractual, and regulatory obligations. In addition, the Platform uses industry-standard information security practices to safeguard personal data.

It is hereby stated that, considering the relationship between the Platform, Avanza, and the User's employer, personal data may be shared between AVANZA and the User's employer for the purposes necessary and related to the service.

9. Sanctions and Suspension

Without prejudice to other measures, the Platform may warn, temporarily suspend, or permanently disable a User's account and interrupt the services in the event of any of the following causes: (a) misuse of the functionalities; (b) if any law is violated, or any of the stipulations of these Terms and other related policies is breached; (c) if the User fails to comply with the User's commitments as a User; or (d) if, in the Platform's judgment, willful or fraudulent conduct or acts are engaged in.

In these cases, the Platform may interrupt or suspend the provision of the services until the aforementioned causes are resolved.

10. How to contact us

If you have any questions about these Terms, you may contact us by sending an email to legal@tuavanza.com.