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THIS AGREEMENT SETS FORTH THE TERMS AND CONDITIONS UNDER WHICH GWEBCASH WILL PROVIDE ITS ACCOUNT SERVICES. THIS AGREEMENT DESCRIBES USER’S RIGHTS AND OBLIGATIONS WHEN USING THESE SERVICES. USER MUST READ THE AGREEMENT CAREFULLY AND BE SURE USER UNDERSTANDS THESE TERMS AND CONDITIONS.

CREATION OR USE OF A GWEBCASH ACCOUNT MEANS USER ACCEPTS ALL THE TERMS AND CONDITIONS OF THIS AGREEMENT.

THE PARTIES TO THIS AGREEMENT ARE THE ISSUER AND THE USER.

1. Definition of Terms

USD backing the GwebCash currencies is held in trust by The GwebCash Special Purpose Trust for the exclusive benefit of all GwebCash account holders collectively.

1.1."GwebCash"; means the currency backed by USD;the word "GwebCash"; is a registered trademark.

1.2."Issuer"; means GwebCash., a Panama Corporation.

1.3."Primary User"; means the User that creates the GwebCash account. Primary User is the owner of the account from the perspective of Issuer. Primary User may add additional Users to the account. The Issuer shall treat all such additional Users as agents or delegates of Primary User.

1.4."Permissions"; means account access privileges granted by Primary User to designated additional Users. Unless Primary User specifically limits permissions, such additional Users have the same privileges as Primary User with certain exceptions, including, but not limited to (1) the ability to reassign Primary User status and (2) the ability to close the account.

1.5. "User"; means any user accessing a GwebCash account with permissions granted by Primary User.

1.6."Available Balance"; means the total balance of a particular GwebCash account minus any accrued fees.

1.7."Spend"; means the act of transferring value between GwebCash accounts. Spends are accounted in USD (or other foreign currency equivalent) and convey title to that precise amount of value. Spends may not exceed Available Balance.

1.8."Passphrase"; means a series of characters, known only to User, deemed of suitable complexity as determined from time to time by Issuer. For purposes of this agreement, Passphrase also refers to other authentication mechanisms to which Use rand Issuer mutually agree.

2. Conditions of Use

User acknowledges that (i) GwebCash is not a bank(ii) GwebCash accounts are not insured by any government agency and (iii) GwebCash is not subject to banking regulations.

2.1. User Obligations. User agrees that all User obligations under this Agreement are the joint and several obligations of all the Users with greater than read-only access to a particular account.

2.2.Identifying Information. User must provide Issuer with valid and accurate identifying information as determined from time to time by Issuer.

2.3.Protection of Passphrase

2.3.1. User is responsible for the protection of User’s Passphrase that gives access to User’s GwebCash account. User agrees that, in the event of the loss or misuse of User’s Passphrase,Issuer disclaims all liability for such loss. User shall indemnify and hold harmless Issuer for relying on transactions authorized using User’s Passphrase prior to such time as User notifies Issuer that User’s Passphrase has been compromised.

2.3.2. User acknowledges and accepts that in the case of a claim of unauthorized Spends, the presumption shall be that all Spends are authorized by and are the liability of the User.

2.3.3. User must not divulge User’s Passphrase to anyone else, nor may User use anyone else’s Passphrase. User agrees that Issuer will treat any person accessing User’s account using User’s Paraphrases the User.


2.3.4.Issuer is not responsible for losses incurred by Us eras the result of User’s misuse of a Passphrase.

2.3.5. User agrees that any action taken by any person using User’s Passphrase shall be binding on Use rand all other parties with an interest in that account.

2.4.Irrevocably of Spends

2.4.1. User agrees that all Spends initiated by User are final and not reversible.

2.4.2. User is responsible for all Spends from User’s GwebCash account, except as provided in section 2.3, even if the instructions provided by User are incorrect.

2.4.3User understands and acknowledges that user is aware that GwebCash spends are irrevocable and that user agrees to follow the policy of buyer beware ("Caveat Emptier") when using GwebCash at various merchant sites, especially merchants such as gaming or gambling or "HYIP"and other types of investment or chance games or matrixes or Ponzis (pyramid schemes), which are identifiable by their promises of extremely high (more than 1% per day) rates of return, and that should user still wish to deal with such merchants that it is at user"s own risk.

2.4.4 User understands and acknowledges that GwebCash is registered and is 100% domiciled in Panama and that GwebCash follows the laws of Panama, including, but not limited to, allowing gaming and gambling businesses to use GwebCash as a payment system, which may not be acceptable or legal in user"s own jurisdiction.

2.4.5 User understands and acknowledges that GwebCash does not act as judge or jury or as law enforcement or as a court of law with respect to any disputes between users of GwebCash. User understands that any such involvement by GwebCash in the affairs of users of the system could expose GwebCash to civil legal liability, or possibly criminal liability, even if GwebCash believes that its actions are in good faith. Issuer, when practicable, will refer User to utilize the services of the Global Digital Currencies Association (www.gdcaonline.org) should any dispute arise between users.

2.4.6 User understands and acknowledges that GwebCash has posted fraud alerts on its home page and that links to the fraud alerts and these Terms of Service appear (and must be acknowledged) before any spend or transfer can be made in user"s GwebCash account. These fraud alerts specifically warn users not to use GwebCash to make spends or internal transfers to Ponzi or "HYIP" or otherhigh yield investment-type programs and to make sure that user is made aware of the dangers of sending funds to unknown or poorly known Internet sites. User has the right to completely ignore these warnings and instructions if user chooses so to do, but user acknowledges that user does NOT have the right to then blame GwebCash for not physically restraining user from doing foolish things with user"s funds or for not policing the Internet.

2.5.Disputes Between Users

2.5.1. Any disputes that arise between Users are not the responsibility of Issuer.

2.5.2. User acknowledges Issuer does not make any guarantees regarding purchases made when using the GwebCash service. User acknowledges that Issuer does not ensure the quality, safety, or legality of any merchandise received, nor that the seller will even ship the merchandise.

2.6.Indemnification

User agrees to indemnify and hold harmless Issuer, its agents, affiliates, officers, directors and employees from any claim or demand whatsoever relating to or arising out of User’s use of the GwebCash system, except for any loss caused by willful misconduct of Issuer.

3. Obligations of Issuer

Issuer shall honor these obligations:

3.1. Reserve Requirement

3.1.1. All funds in circulation shall be backed 100% at all times with unencumbered USD (or other currency that is held in User’s GwebCash account).

3.1.2. Under no circumstances will Issuer abrogate its obligation to back all electronic funds with (at least) 100%reserve of USD or Euros.

3.2. User Interface

Issuer will ensure that a secure online User interface is made available.

3.3.Exchange Rates

Strictly for User’s convenience, Issuer may allow Spend order entry in terms of national currency units using an exchange rate specified by Issuer. Posted exchange rates are only for convenience of User. Issuer does not make a market for exchange and Issuer does not represent that anyone will make a market honoring the specified exchange rates.

3.4. Privacy

3.4.1.Issuer will produce and maintain a Privacy Policy, which will be publicly available at the GwebCash website. In the event of any conflict between the Privacy Policy and this Agreement, the terms of this Agreement will control.

3.4.2.Unless (1) otherwise approved by User or (2) ordered by a court or arbitration body of acceptable jurisdiction, as determined by Issuer, Issuer shall not reveal User’s cont actor identifying information or transaction history to any third party.

3.4.3.Issuer will not store Passphrase in plain text. No employee of Issuer will ever ask for User’s Passphrase.

3.4.4 User agrees that the only way to recover access to a User Account where the Passphrase or Login ID have been lost is by following the password recovery procedure established by Issuer. User is responsible for being able to meet the requirements and costs for the password recovery. GwebCash will not be responsible in any way for any of User’s losses due to User failing to meet the requirements for password recovery.

4. Rights of Issuer

Issuer reserves the following rights:

4.1.Governance Model

Issuer reserves the right to appoint third parties to fulfill specified governance roles, including, but not limited to: (1) Trust, (2) Auditor, (3) Operator.

4.2. Value Limits

Issuer may set value limits (balance, spends, etc.) on a GwebCash account based on the sufficiency of the identifying information provided by User or by order of a court or arbitration body acceptable to issuer. Issuer may restrict User’s ability to use more than one GwebCash account in an attempt to circumvent the value limit.

4.3. Fees

Issuer reserves the right to assess and collect the following fees from User’s account:

4.3.1.Monthly Fee — collected by Issuer monthly from user’s account.

4.3.2. Spend Fee — deducted by Issuer in USD from the recipient account of a Spend.

4.3.3. Other Administrative Fees — collected by Issuer for providing support to User when User contacts Issue rand Issuer is not at fault.

4.3.4. Funds Recovery Process and Fees.

Upon satisfying all legal requirements necessary to recover funds, GwebCash will, if at all possible, attempt to recover the funds in question. Common legal requirements include, but not limited to: valid court orders, valid law enforcement orders, notarized copies of all requests submitted in writing and notarized copies of all IDs. Inmost cases all originals have to be submitted via postal mail, as electronic copies sent by e-mail are not acceptable. If by any reason GwebCash is requested to recover any funds by any reason, a one-time 10% Recovery fee will be charged in order to cover any and all expenses of the recovery process.

4.4. Escheat

Issuer will not escheat inactive GwebCash accounts. An inactive account with a balance shall remain dormant forever, other than continued assessment of fees, unless and until an heir presents valid documentation entitling the heir to inherit the account.

4.5. Force Majeur

Issuer will not be responsible for delays or failures in the transmission, receipt or execution of orders, payments, deliveries or information due to events beyond its control. The obligations of this contract precede any government enactment.

4.6. Right of Association

Issuer reserves the right to refuse service to particular individuals or entities, at its sole discretion, with or without cause.

4.6.1.Refusal with Cause

Issuer will block any transactions that increment or decrement the balance in User’s GwebCash account ("Freeze"), with cause:

4.6.1.1.Issuer will Freeze the GwebCash account of User if User uses, or attempts to use the GwebCash service in connection with tampering, cracking, modifying or otherwise corrupting the security or functionality of the GwebCash system. Additionally, User will be subject to damage sand other penalties, including criminal prosecution where available and the notification of the general public of User’s actions, at the sole discretion of Issuer.

4.6.1.2.Issuer will Freeze or remove a Freeze from a GwebCash account, if ordered to do so by an order from a court or arbitration body of acceptable jurisdiction, as determined by Issuer.

4.6.1.3.Fees will continue to be assessed on a frozen account.

4.7.Trademarks

Issuer retains all right, title, and interest in and to trademarks. User shall only use GwebCash trademarks with the express permission of Issuer. User shall not use the trademarks in any manner that is disparaging to GwebCash. Under no circumstances may a User alter, modify, or change Issuer’s trademarks.

4.8 Exchange services (i. e. exchanging national currency to GwebCash and vice versa and other currencies to GwebCash and vice versa) are provided by independent Exchange Providers

4.9. Privacy and Confidentiality Policy

4.9.1 GwebCash recognizes the User’s right to confidentiality and privacy.

4.9.2 Unless ordered by a ruling body of competent jurisdiction acceptable to Issuer, Issuer shall not reveal User’s contact or identifying information or transaction history to any third party.

4.9.3 Issuer will ensure that User has the ability to examine User’s contact and identifying information and make updates and changes when necessary.

4.9.4 Issuer will not store any User details, including but not limited to account history, contact or identifying information, or Personal Identification Number(s) in unencrypted plain text under any circumstances.

4.9.5 User agrees that GwebCash has the right to monitor the GwebCash Network electronically from time to time in order to operate the System properly.

5. Third Party Links

5.1 GwebCash provides links to other web sites that maybe of interest or of use to Users solely for the convenience of Users. Any such linked site does not constitute part of the GwebCash Network unless expressly stated. GwebCash is not responsible for the privacy practices, or the content of any such web sites.

5.2 User acknowledges and agrees that GwebCash (and its directors, affiliates, officers, employees and agents) give no warranties or representations in connection with any links to other web sites or the operations of those web sites and in no way guarantees the use of such web sites or the services offered, included but not limited to the services of any Exchange Provider.

6. Arbitration

Any controversy or claim arising under or related to this Agreement shall be settled by arbitration in accordance with the Arbitration Rules of the Global Digital Currencies Association before a single arbitrator appointed by mutual consent of the parties to this Agreement. The language of the arbitration shall be English.

7. Waiver

Failure to exercise or delay in exercising any right,power or remedy hereunder by Issuer shall not operate as waiver thereof, nor shall any single or partial exercise of any right, power or remedy of Issuer hereunder preclude any other or future exercise thereof or the exercise of any other right, power or remedy.

8. Assignment

The provisions of this Agreement shall be continuous and shall inure to the benefit of Issuer, its successors and assigns, and shall be binding upon User and/or the estate, personal representatives, administrators and successors of User. Issuer may assign its right sand delegate its duties as to any or all transactions under this Agreement. User shall not delegate any obligations hereunder without the prior written consent of a duly authorized officer of Issuer and any attempt at such delegation without such consent shall be void.

10. Severability

In the event that any provisions of this Agreement shall be determined by an arbitration body or a court of competent jurisdiction to be unenforceable in any jurisdictions,such provision shall be unenforceable in that jurisdiction and the remainder of this Agreement shall remain binding upon the parties as if such provisions were not contained therein. The enforceability of such provision shall otherwise be unaffected and remain enforceable in all other jurisdictions.

11. Entire Agreement

This Agreement constitutes the entire and whole Agreement between User and Issuer and is intended as a complete and exclusive statement of the terms of the Agreement. This Agreement shall supersede all other communications between the parties. This Agreement may be amended only upon execution of a subsequent agreement or upon User’s failure to object within 10 days to modifications posted on Issuer’s website.