LZF User Agreement   Last updated: Oct 6, 2017
 

Please read all of the User Agreement carefully.

By clicking on the "Create Account" button or by accessing or using the LZF Website and/or Services, you agree to be legally bound by this LZF User Agreement and all the terms incorporated by reference herein.

 

Summary of User Agreement

 

This summary of our User Agreement provides an overview of the key terms that are used on our website and in our merchant and trading services. We strongly recommend that you fully read the complete User Agreement below as it provides important information about how our services work and about many other aspects of our Service and of your legal relationship with LZF. Please be aware that we refer to our online service as "LZF."

 

Key Definitions

The following terms, unless otherwise defined in this User Agreement document, will have these meanings:

  • "External Account" means any Digital Asset or Legal Tender Account or Financial Account from which you may disperse Funds into your LZF Account, and to which you may disperse Funds from your LZF Account
  • "Financial Account" means any financial account for which you are the listed owner that is maintained by a third party outside of the LZF Services, including but not limited to accounts maintained by third party financial institutions or third-party payment service accounts
  • "Funds" means Legal Tender or any Digital Asset
  • "Legal Tender" means any listed national currency, such as U.S. dollars or Euros, that may be used in connection with a trade, a transaction, or a sale of Digital Assets via the LZF Services, and does not include any Digital Asset
  • "LZF Account" means a user account accessible through the LZF Website where Funds may be stored by LZF on behalf of a user
  • "Digital Asset" means bitcoins, Nxt, or any other digital assets that may be purchased, sold or traded via the LZF Website
  • "Digital Asset Account" means any Digital Asset address or account owned or operated by you that is maintained outside of the LZF Services, and is not owned, operated, or controlled by LZF
  • "Merchant Services" or "Merchant Payment Services" means the LZF payment service which enables LZF users to accept payments from customers in Digital Assets and/or Legal Tender
  • "Services" means any LZF service
  • "Restricted Activities" means all of the activities described in the Restricted Activities section
  • "Transaction" means any transaction of Digital Assets and/or Legal Tender initiated to and/or from LZF services including, but not limited to, exchanging, sending, receiving, and requesting of Digital Assets and/or Legal Tender
  • "Commission/Exchange Fee" means any fee charged by LZF for Transactions
  • "Conversion Rate" means the rate at which one Digital Asset or Legal Tender is converted to another through LZF at any given time
  • "Exchange" means the trading of one Digital Asset or Legal Tender for another
  • "User" means any person accessing and/or using any LZF service
  • "Private Keys" means the keys which are not to be publicly shared from asymmetric key pairs and can be used to transfer Digital Assets using the respective Digital Assets' networks
  • "Order" means any transaction initiated by a User which may or may not be executed immediately
  • "Service" or "LZF Service" means any service offered by Laissez Faire Financial, LLC and/or its subsidiaries
  • "Website" or "LZF Website" means LZF.com or PSCoin.com or any other website domain owned and operated by Laissez Faire Financial, LLC and/or its subsidiaries
  • "Restricted Locations" means any countries or jurisdictions which, due to legal restrictions, are not participants to any or all of the financial or legal availabilities as set forth in these User Agreement
 

Our Services

LZF offers you a Service that allows you to trade Legal Tender for Digital Assets and vice versa, to trade one type of Digital Asset for another type of Digital Asset, to trade one type of Legal Tender for another type of Legal Tender, and/or to utilize LZF's Merchant Payment Services. You may also use our Services to purchase and sell Digital Assets from and to other LZF users. The types of services available to you will in part depend upon the country or the US state from which you use LZF. LZF may not make their Services available in all jurisdictions markets, and we may prohibit or restrict the use of the Services from certain US states or foreign jurisdictions ("Restricted Locations").

LZF exchange provides you with an application that matches your trades with open orders from other LZF users at your direction. Orders may be partially filled or may be filled by multiple matching orders. Individual LZF users are unable to predetermine a trade with a particular user or with a particular account.

 

Eligibility and Acceptable Use

In order to utilize any LZF Services you must meet certain eligibility criteria. For example, you must be an adult to use our Services, and there are certain locations from which you may not be able to use some or any LZF Services. There are certain things you cannot do when using LZF Services, such as engage in any illegal activities, lie, or do anything that would cause any damage to our Services or our systems. Please see the Acceptable Use section below for details.

 

Other Important Legal Terms and Policies

Many important legal terms and policies are printed and explained in the complete LZF Services User Agreement below. Please carefully read these terms and policies. You can contact LZF at [email protected] if you have any questions.

 

LZF Privacy Policy

Please refer to the LZF Privacy Policy for any and all information about how we collect, share, and use LZF users' information.

 

Complete User Agreement

 

These LZF User Agreement and any terms and policies included herein ("Terms") apply to your access to and utilization of the LZF website and mobile applications provided by Laissez Faire Financial, LLC, and its wholly owned subsidiaries (collectively, "LZF", "LZF Services", "we", or "us"), and the trading and merchant services provided by LZF as described in these Terms (referred to collectively as our "Services").

 

Licenses

This LZF User Agreement document is your User Agreement ("Agreement"), and as such it is a contract between you ("you," "your" or "user") and Laissez Faire Financial, LLC, a New Mexico Limited Liability Company ("LZF," "we", "us" or "our") and applies to your use of the LZF website and all services described herein (collectively, the "LZF Services").

By signing up for a LZF Account, you are agreeing to comply with and to be legally bound by the terms and policies as set forth in this User Agreement; this User Agreement policy may be occasionally revised. If you choose to not agree to any or all of the terms set forth in this User Agreement document, or in any subsequent revision of aforementioned document, you may not access or use any of the LZF Services and must cancel your LZF Account by following the directions as set forth below.

LZF may at times revise this User Agreement, and shall post said changes on the LZF website and may also email notification of said revision to you. Any changes to the LZF User Agreement shall be made effective from the date specified on the LZF website or in any notification sent to you with specific regard to this aforementioned change. LZF may change or discontinue any part of the User Agreement, and may suspend or terminate your access to the LZF Services at any time without prior, specific notice to you in certain, limited circumstances described in the LZF User Agreement below.You agree that LZF shall not be liable to you or any other third party for any revision and/or termination of the User Agreement document, or suspension or termination of your access to the LZF Services, except to any extent otherwise expressly set forth herein.

 

Eligibility

If you are registering to use the LZF Services on behalf of a legal entity, you represent and warrant that: said legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and, you are proclaiming that you are duly authorized by said legal entity to act on its behalf.

By establishing a LZF Account you represent and guaranty that you:

  • are of legal age to form a binding legal contract (being of at least 18 years of age in the US);
  • have never been suspended from using LZF's Services;
  • have full legal power and authority to legally enter into this agreement with us and in doing so will not violate or make invalid any other agreement to which you are a party;
  • are not under the control of, located in, or a national or resident of:
    • any Restricted Locations;
    • any country to which the United States has established embargoed goods or services with;
  • are not legally identified as a "Specially Designated National;"
  • are not currently placed on the Commerce Department’s Denied Persons List;
  • and, will not use our User Agreement if any legal and applicable laws in your country or jurisdiction prohibit you from doing so.
 

LZF Services

Your LZF account ("LZF Account") includes, but is not limited to, all of the following LZF Services:

  • one or more Digital Assets accounts that allows users to store Digital Assets private keys, and to transfer, track, and/or manage their Digital Assets and account information and through which LZF can facilitate Digital Assets Transactions pursuant to instructions submitted by a user, or user authorized entity, to LZF;
  • a Digital Assets and Legal Tender conversion service through which users can buy Digital Assets and/or Legal Tender, and sell Digital Assets and/or Legal Tender using LZF;
  • and Users who intend to sell goods and/or services (each, a "Merchant") and who wish to accept Digital Assets and/or Legal Tender from purchasers as a method of payment and who may use a suite of tools and related services for this purpose.
 

LZF Accounts

LZF reserves the right to determine the number of LZF Accounts that LZF may, in its sole discretion, limit any user to hold, maintain, or create.

 

LZF Account Information and Security

In order to execute any trades or any use of LZF Merchant Services via the LZF Services, you must create a LZF Account and provide all of the requested information.

When you create a LZF Account you agree to:

  • create a password that you do not use for any other website or online service
  • provide lawful, truthful, and accurate information
  • maintain and continue to update your LZF Account user information
  • maintain the security of your LZF Account by restricting access to and protecting the password of your LZF Account
  • notify us if you discover or otherwise have reason to believe that any security breaches related to your LZF Account have occurred
  • take responsibility for any and all activities that occur under your LZF Account and accept any and all risks of any authorized or unauthorized access to your LZF Account to the full extent permitted by law
 

Registration of Your LZF Account

In order to use any of the LZF Services you will need to register by providing an e-mail address, password, and by also providing some proof of your identity. Upon successfully completing the registration process, LZF will establish your LZF Account. LZF may, in our sole discretion, refuse to allow you to establish a LZF Account, or may choose to limit the number of LZF Accounts that you, or any single user, may establish and maintain at any given time.

 

Identity Verification

In order to use certain features of the LZF Services, including certain transfers of Digital Assets and/or Legal Tender, you may be required to provide LZF with specific information including but not limited to your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and/or specific information regarding your bank account (including but not limited to your financial institution, your account type, your routing number, and your account number).

LZF may also require you to answer specific questions or take specific actions in order to verify your identity, to provide you any LZF Services, or to comply with any or all applicable laws. In submitting this or any other personal information as may be required, you verify that the information is authentic and accurate, and you agree to update LZF if any of your personal information changes. You hereby authorize LZF to directly, or through third parties:

  • make any inquiries that LZF considers to be necessary to verify your identity and/or account information
  • search for and obtain any credit report, or similar type of financial information relating to you, and to take any and all actions that we deem reasonably necessary based on the results of such inquiries and reports, and that you do hereby authorize any and all third parties to which such inquiries or requests may be directed to, to respond fully to said requests or inquiries
 

Digital Asset and Legal Tender Transaction

As part of the LZF Website and Services offered in connection with any LZF Account, we can assist any User who chooses to send Digital Assets to, and request and receive Digital Assets and/or Legal Tender from, any third parties pursuant to all instructions which said User provides us through the LZF Website located at LZF.com, the LZF API, and any other associated LZF hosted websites or mobile applications (collectively the "LZF Site"); each and any such Transaction is a "Digital Asset or a Legal Tender Transaction".

LZF Users may initiate a Digital Asset and/or Legal Tender Transaction by going to the LZF Website, choosing to sell or buy/send or request, and entering the requested information of the sender or the recipient of said Transaction and the amount of Digital Assets and/or Legal Tender to be transacted. LZF will then communicate with the network of any of the desired Digital Assets on your behalf, as necessary, to facilitate each Transaction in accordance with these received instructions.

LZF reserves the right to cancel or to refuse to process any pending Digital Asset Transaction as required by law or in response to a subpoena, a court order, or other properly processed, binding legal order. LZF cannot reverse a Digital Asset Transaction which has been communicated to and confirmed by the Bitcoin/Digital Asset network.

 

Merchant Services

LZF has no control over, or liability for, the legality, safety, delivery, quality, or any other aspect of any goods or services that you may sell or purchase to or from a third party using the LZF Services. LZF is in no measure responsible for ensuring that a seller or a buyer that you are engaged with will complete any or all transactions or that said seller or buyer is authorized to do so. If you experience any problem with any goods or any services purchased from or sold to any third party in connection with any Digital Asset or Legal Tender transferred using the LZF Services, or if you have a dispute with any third party, you must resolve said dispute directly with that third party.

Any and all Digital Asset or Legal Tender Transactions executed using the LZF Services are final regardless of any defects in or non-delivery of any goods or services purchased in connection with the aforementioned Digital Asset or Legal Tender Transaction, or due to any other aspect of your Transaction or your relationship with the relevant third party. If it is your opinion that any third party has behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot resolve a dispute with a third party, you may notify LZF Support at [email protected] . LZF reserves the right to consider whether or not to take any action in response to a user notification of any dispute with a third party.

In the event that you conduct a Digital Asset or Legal Tender Transaction for the purpose of paying a Merchant for goods or services and that Merchant uses LZF Services to provide you with a refund, such refund may be conducted by way of a separate Digital Asset or Legal Tender Transaction which shall have a value equal to the transaction amount being refunded, as expressed in Legal Tender or a Digital Asset, based on the then current Market Rate. As a result of said Transaction, you may receive less Digital Asset or Legal Tender than you initially used to pay the Merchant.

LZF processes Digital Asset and Legal Tender Transactions according to the instructions received from LZF users. LZF does not guarantee the identity of any user, receiver, requestee or any other party. LZF users are strongly encouraged to verify all Transaction information before submitting instructions to LZF. Transactions executed through the LZF Services may not be cancelled or reversed once initiated.

If you initiate a Digital Asset Transaction by entering the recipient's Digital Asset address, LZF can and will confirm that the Digital Asset address is valid. LZF is not, however, able to confirm that the Digital Asset address belongs to the user's intended recipient. In the event that you initiate a Digital Asset or Legal Tender Transaction by entering the recipient's email address and the recipient does not have an existing LZF Account, LZF will send an email to the recipient and will invite them to open a LZF Account. If the aforementioned recipient does not open a LZF Account within 30 days, LZF will return the Digital Asset or Legal Tender associated with the transaction to your LZF Account.

 

Taxes

It is the user's sole responsibility to determine whether and to what extent any and all taxes apply to any Transactions associated with your receipt or your transfer of Digital Assets or Legal Tender, and/or to the Transactions which you execute through the LZF Services. It is the responsibility of all LZF users to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Your transaction history is available through your LZF Account.

 

Limits

LZF reserves the right to change the buy/sell, transfer, storage and velocity limits applicable to your LZF Account, including, but not limited to, the conversion pro licked and procedures as set forth in this LZF User Agreement.

 

Digital Asset and Legal Tender Storage & Transmission Delays

LZF securely stores all Digital Asset private keys that are in our control in a combination of online and offline storage. It may be necessary for LZF to retrieve any or all of this information from offline storage in order to facilitate a Transaction in accordance with your instructions; this retrieval process may delay the initiation or crediting of the aforementioned Transaction for 48 hours or more. As a user of the LZF Services, you accept the risk that a Digital Asset or Legal Tender Transaction executed through our Services may be delayed and you agree not to hold LZF responsible for any injury or damages which may arise out of or related to said delay.

 

Third-Party Applications

If you choose to grant express permission to any third party to gain access or to connect to your LZF Account, either through the third party's service or product or through the LZF website, you acknowledge and understand that by granting permission to a third party to take specific actions on your behalf, you have in no manner been relieved of any of your LZF user responsibilities under this LZF User Agreement. You are wholly responsible for all actions or omissions committed by any third party that uses your LZF Account or Account credentials. Further, you agree and acknowledge that you will in no manner hold LZF responsible for, and will indemnify LZF from, any liability or damage arising out of or related to any act or omission by any third party using your LZF Account or Account credentials. You may at any time remove, restrict, or change any permissions granted by you to third parties with respect to your LZF Account through the Account Settings page on the LZF Website.

 

Suspension, Termination, or Cancellation of Your LZF Account

LZF may terminate or suspend your access to any or all of the LZF Services and may deactivate or cancel your LZF Account as required by a valid subpoena, court order, or any other lawfully processed legal action, or if LZF reasonably suspects you of using your LZF Account for any unlawful or illegal activity, or if you take any action that LZF deems as circumventing LZF's controls, including, but not limited to, opening multiple LZF Accounts or abusing promotions which LZF may choose at times to offer.

You will be permitted to transfer any Digital Assets and/or any Legal Tender associated with your LZF Account for ninety (90) days after the deactivation or cancelation of your Account unless such transfer is prohibited under the law or by a valid subpoena, court order, or any other lawfully processed document. Merchant users are subject to additional cancellation policies set forth in this LZF User Agreement below.

You may cancel your LZF Account at any time by transferring or exchanging all Digital Assets and/or any Legal Tender associated with your LZF Account and by e-mailing [email protected] . You will not be charged for the cancellation of your LZF Account and you will only be required to pay for any LZF Services which you have chosen to use that are subject to any charges. If any LZF Transaction is in a pending state at the time your LZF Account is suspended or cancelled, said Transaction may be cancelled and/or refunded at the sole discretion of LZF and in accordance with the LZF User Agreement. You may not terminate your LZF Account for the purpose of evading any investigation or to avoid paying any amounts otherwise due to LZF.

Upon the suspension or cancellation of your LZF Account, you duly authorize LZF to suspend or to cancel any pending Account Transactions and to retain any Digital Assets and/or Legal Tender associated with such transactions until LZF is certain that any funding reversal windows are complete. In the event that you or LZF terminates this Agreement, your Account, or your access to the LZF Services, you will remain liable for all amounts due hereunder. If any technical problem or issue causes a system outage or any Account errors, LZF may temporarily suspend your access to your Account until the problem is resolved.

 

Legal Compliance

Pursuant to the economic sanctions programs administered in the countries where LZF conducts business, including but not limited to the US Department of Treasury's Office of Foreign Assets Control ("OFAC"), LZF is prohibited from providing services or from entering into any relationships with certain individuals and/or entities.

In the event that LZF is required to block any or all assets associated with your LZF Account in accordance with a sanctions program, or any other similar government sanctions programs, LZF may: choose to deactivate or to cancel your LZF Account or to block your user activity, transfer Digital Assets and/or Legal Tender from your LZF Account to an originating source or to an account specified by authorities; or, require you to transfer your Digital Assets and/or Legal Tender out of your LZF Account within a certain prescribed period of time.

LZF is not responsible for any user losses, whether indirect or direct, that you may incur as a result of our compliance with any applicable law, the guidance or direction of any regulatory authority or government agency, or any subpoena, levy, lien, writ of attachment, warrant, or any other lawfully processed legal order or document.

 

Funding your LZF Account

In order to execute an order or trade utilizing the LZF Services, you must first load Funds into your LZF Account using one of your currently approved External Accounts as recognized and confirmed through LZF. At times you may be asked to verify that you lawfully control the External Account that you choose to use to load Funds into your LZF Account. As described in the LZF User Agreement below, you may be charged fees by the External Account you use to fund any LZF Account which you create; LZF is not in any manner responsible for any External Account fees or for the security and/or the management of any External Account.

You as the LZF website user are solely responsible for your use of any External Account, and you agree in full to comply with any and all terms and conditions applicable to any External Account. LZF can in no manner guarantee the amount of time that it may take to load Funds from your External Account into your LZF Account; any timing of the transfer of Funds with regards to a load transaction can and will depend upon the performance and the policies of third parties responsible for maintaining the applicable External Account.

 

Pushing Funds to an External Account

As a LZF User, you may push any amount of the Funds held in your LZF Account, up to and including the total amount of Funds in your LZF Account in excess of such minimum balance requirements as set forth in the LZF User Agreement, from your LZF Account to an External Account of your choosing, less any fees charged by LZF for said transactions as set forth in the Fee Schedule at the time that your request to push Funds to an External Account so long as the balance of Funds in your LZF Account is greater than the minimum balance requirements needed to satisfy any of your current open positions.

 

Load or Push Authorization

When you make a request for funds to be loaded into your LZF Account from any External Account or when you request that we push Funds to any External Account from your LZF Account, you give authorization for LZF to execute said transaction in accordance with the policies and procedures set forth in the LZF User Agreement.

 

Rejected Transactions

The External Account that you use to load Funds into your LZF Account may reject your Funds, may fail, for any reason, to transfer your Funds, or may otherwise be not available. You agree that you will in no way hold LZF liable for any potential damages which may result from any such rejected Transactions.

 

Exchange Orders and Trades

This Section of the LZF User Agreement details LZF's policies and procedures with regard to: the trading of Digital Assets and/or Legal Tender (whether the Trade is Digital Assets with other Digital Assets, Digital Assets with Legal Tender, or Legal Tender with Legal Tender); or, The use of LZF's Merchant Services.

 

Registration of Your LZF Account

In order to use any of the LZF Services you will need to register by providing an e-mail address, password, and by also providing some proof of your identity. Upon successfully completing the registration process, LZF will establish your LZF Account. LZF may, in our sole discretion, refuse to allow you to establish a LZF Account, or may choose to limit the number of LZF Accounts that you, or any single user, may establish and maintain at any given time.

 

Authorization

When you place a new order through the LZF website, you authorize LZF to execute a transaction in accordance with such order on a spot basis and charge you any applicable fees, as described in the LZF User Agreement.

 

User Independence

You agree and acknowledge that LZF is not acting in any manner as your broker, your intermediary, your agent, or your advisor. You also agree and acknowledge that LZF is not acting in any fiduciary capacity, and that no communication or information provided to you by LZF shall be considered or construed to be advice.

 

Trade Confirmation

Once LZF executes any trades your behalf, a confirmation listing all the details of the trade will be made electronically available to you on our website. You acknowledge and agree that any failure of LZF to provide said confirmation will in no way invalidate or prejudice the terms of said trade.

 

Trade Options

You may refer to the Trading Guide to find information about the terminology used in connection with the LZF trading options. If you do not understand the meaning of any of the listed trade options, you are strongly encouraged to you not use any of those options.

 

Prevailing Market Rates

If you choose to execute a market trade, LZF will attempt, on a commercially reasonable basis, to execute the trade on, or as close as possible to, the current prevailing market exchange rate, as explained in the LZF User Agreement. You acknowledge and agree that the exchange rate information as made available through the LZF website may differ from other prevailing exchange rates as made available through other, non-LZF, websites or sources.

 

Registration of Your LZF Account

In order to use any of the LZF Services you will need to register by providing an e-mail address, password, and by also providing some proof of your identity. Upon successfully completing the registration process, LZF will establish your LZF Account. LZF may, in our sole discretion, refuse to allow you to establish a LZF Account, or may choose to limit the number of LZF Accounts that you, or any single user, may establish and maintain at any given time.

 

Registration of Your LZF Account

In order to use any of the LZF Services you will need to register by providing an e-mail address, password, and by also providing some proof of your identity. Upon successfully completing the registration process, LZF will establish your LZF Account. LZF may, in our sole discretion, refuse to allow you to establish a LZF Account, or may choose to limit the number of LZF Accounts that you, or any single user, may establish and maintain at any given time.

 

Market Volatility

During periods of time when the market is experiencing illiquidity, especially high volume or fast movement, or volatility in the marketplace for any Digital Assets or Legal Tender, the actual market rate at which a market order or trade is executed may differ from the prevailing rate posted on our website at the time that you place your order or trade. You understand that we are in no manner liable for any such fluctuations in market prices.

In the event of a market disruption or a Force Majeure event as described in the LZF User Agreement, LZF may:

  • suspend user access to the LZF website; or,
  • prevent users from executing any actions via our website, including closing any and/or all open positions.

When trading begins again following any aforementioned happening, the user acknowledges and agrees that any prevailing market rates may be different from the rates that were available before said event occurred.

 

Trade Settlement

Subject to the terms and conditions in the LZF User Agreement, LZF will use any and all commercially reasonable efforts to settle trades on a spot basis within two (2) days of the date upon which users have executed a trade through our website.

 

Trading Risks

In order to use any of the LZF Services you will need to register by providing an e-mail address, password, and by also providing some proof of your identity. Upon successfully completing the registration process, LZF will establish your LZF Account. LZF may, in our sole discretion, refuse to allow you to establish a LZF Account, or may choose to limit the number of LZF Accounts that you, or any single user, may establish and maintain at any given time.

 

Registration of Your LZF Account

Please note the following risks of using LZF Services:

As a LZF User, you may sustain a total loss of any or all of the Funds in your LZF Account, and, in some cases, you may incur losses beyond such Funds.

Once submitted to the LZF website, a Digital Asset or Legal Tender Transaction as defined in the LZF User Agreement, will be able to be confirmed for a period of time (usually a period less than one hour, but at times up to one or more days) pending official confirmation of the transaction through the Bitcoin or other Digital Asset network. A Transaction is not considered to be complete while it is pending. Digital Assets and Legal Tender that are associated with Transactions that are currently pending will be designated as such; said Funds will not be included in your LZF Account balance and will not be available to conduct any further Transactions.

Due to the significant risk of loss in executing Trades with, or in holding, Digital Assets and/or Legal Tender, you should carefully consider whether trading or holding such Funds is suitable for you given your current financial situation. In considering whether to trade or hold Digital Assets and/or Legal Tender, you should be aware that the price and/or the value of both can decrease quickly, up to and including a valuation of zero. By creating a LZF Account and using any LZF product to allow you and/or any third party to access and to hold any LZF private keys, you acknowledge that LZF is not responsible for safeguarding such keys. LZF is not responsible for any loss of Digital Assets and/or Legal Tender resulting from theft, loss, or of bitcoin or other Digital Asset private keys outside its control.

Pursuant to the LZF User Agreement, you agree that any disputes between you and LZF will be resolved by binding, individual arbitration and you agree that you waive your right to participate in any and/or all class action lawsuits or class-wide arbitrations that may be brought against LZF.

Engaging in the trading of Digital Assets and/or Legal Tender can be risky; certain types of trading, including but not limited to margin trading, or the trading of Digital Asset pairs and Digital Asset and Legal Tender pairs,. can be very risky. If you do not understand the risks involved with using LZF for the executing trades then you are strongly advised against creating a LZF Account or utilizing any of the LZF Services.

All LZF Users agree and acknowledge that they will access and use the LZF Website at their own risk.

 

Internet transmission risks

You acknowledge that LZF shall not be responsible for any communication failures, delays, errors, disruptions, or distortions that you might experience when trading via the LZF website due to the fact that there are many risks inherent in using any internet based trading website, howsoever caused, but not limited to any failure of hardware, internet connectivity, or software.

 

Purchase Limits

LZF places limits on the number of Digital Assets and/or Legal Tender that you may buy or sell in a given day, as published in the LZF User Agreement. LZF reserves the right, as we may deem necessary, to change the amount of Digital Assets and/or Legal Tender that you may buy, or sell, using LZF. LZF does not guarantee the availability of its Services, and the act of purchasing Digital Assets and/or Legal Tender using LZF does not result in any guarantee that you may sell your Digital Assets and/or Legal Tender using LZF.

 

Registration of Your LZF Account

In order to use any of the LZF Services you will need to register by providing an e-mail address, password, and by also providing some proof of your identity. Upon successfully completing the registration process, LZF will establish your LZF Account. LZF may, in our sole discretion, refuse to allow you to establish a LZF Account, or may choose to limit the number of LZF Accounts that you, or any single user, may establish and maintain at any given time.

 

Fees

 
Commission/Exchange Fee

Each transaction is subject to a fee (the "Commission/Exchange Fee") charged by LZF which consists of:

  • a fee, which will be calculated as a percentage of the local currency to be converted, for the conversion of Digital Assets for other forms of Digital Assets, or Digital Assets for Legal Tender, or Legal Tender for other forms of Legal Tender; plus,
  • a fixed transfer fee which may be applied to cover applicable bank fees.

The current Commission Fee is always displayed on the LZF website, and can be seen by the user before the completion of any exchange transaction. Your bank holds the right to charge you a non-sufficient funds ("NSF") fee or overdraft fee if you do not have sufficient funds in your bank account to complete a LZF exchange transaction.

 
Amount of Fees

You agree to pay LZF the fees for any and all trades completed by you through our website as made available via the Fees and Pair Info ("Fee Schedule"), which we may change from time to time. Any changes that LZF makes to the Fee Schedule are effective as of the date shown in the posting of the revised Fee Schedule to the LZF website, and will effectively apply to any and all trades which are executed by the user on or after the effective date of such revised Fee Schedule.

 
Third-Party Fees

In addition to any and all Fees which LZF may charge you as per the policies set forth in the LZF User Agreement, your External Account may impose fees in connection with your use of your designated External Account in connection with the LZF website and/or its Services. Any fees which may be imposed by your External Account provider will not be reflected on the LZF website transaction screens containing information regarding your LZF Account or any applicable Fees. You are the sole party responsible for paying any fees imposed by any and all External Account providers.

 
Payment of Fees

You authorize LZF, or any designated payment processor of our choice, to charge or deduct Funds from your LZF Account for any applicable Fees owed in association with any and all trades or any Merchant Services that you complete via the LZF website or Services.

 
Collection Costs

If you do not pay any Fees that are currently owed to LZF, or any other amounts owed to LZF as set forth in the LZF User Agreement, we will remit your Account(s) to a third party for the collection of said Fees. LZF will then charge you the lesser of either an 18% collection fee or the maximum percentage permitted by law, to cover LZF's collection costs.

 

Payments

 

The user agrees to deliver payment for any LZF purchase made through the LZF website upon the completion of any confirmed order, regardless of any potential change in the applicable Exchange Rate as calculated prior to the completion of said transaction, with such payment to be made in the amount calculated according to the terms as set forth in this LZF User Agreement.

 
Insufficient Funds

If there are insufficient Funds in any External Account from which you have chosen to link any transaction with the LZF website to cover the purchase of any Digital Asset, any Legal Tender, any transaction, any other LZF Service, you hereby authorize us to debit said owed Funds from any other of payment methods which you have linked to your LZF Account for the full or partial amount of your purchase. LZF may continue to resubmit any debits or charges to your payment methods until any and all amounts owed to LZF hereunder are satisfied.

If you have an insufficient amount of Funds in your LZF Account to complete an order through our Website or Services, we may cancel the entire order or we may fulfill a partial order using the amount of Funds that are currently available, less any fees owed to LZF in connection with our execution of the Trade.

The user is solely responsible for maintaining an adequate balance in the External Accounts linked to the user's LZF Account and sufficient credit limits on any linked credit cards in order to avoid any fees from possible overdraft, NSF or any other fees. To secure the performance of your obligations under the LZF User Agreement, the user grants to LZF a security interest in any and all of any Funds which come into the possession of LZF and the Digital Assets and/or Legal Tender associated with your LZF account. It is the sole responsibility of the user to pay any and all fees for any documents which LZF requests to create, perfect, maintain and enforce this security interest.

We may deduct any Digital Assets and/or Legal Tender in your LZF Account if a payment for a purchase of any Digital Asset and/or Legal Tender using an External Account, or debit or credit card, is reversed, as may be the case, for example, if said payment is subject to any chargeback, reversal, claim, or is otherwise ruled invalid. LZF may also deduct Digital Assets and/or Legal Tender held by you in a LZF Account in order to satisfy any existing outstanding amount owed by you to LZF under the policies as set forth in the LZF User Agreement.

LZF reserves the sole right to refuse to process, cancel, or reverse any purchases or any sales of Digital Assets and/or Legal Tender in its sole discretion, including but not limited to any instances where LZF has reason to believe that the transaction involves or has a significantly high risk of any type of involvement in: fraud; money laundering; terrorist financing; any other type of financial crime; or in response to a subpoena, court order, or other lawfully processed and presented government order.

The user does not have any right to withdraw from any transaction already executed by the user on the LZF website to buy or sell Digital Assets and/or Legal Tender because of any concern over the fluctuation of the price of said Digital Assets and/or Legal Tender in accordance with the relevant financial market, which market is fully outside of the control of LZF.

 

Digital Asset Terms of Sale

This Section of the LZF User Agreement applies only when you use the LZF Services to purchase or sell Digital Assets or Legal Tender using LZF, a service which is available in only limited jurisdictions.

 

Prices and Availability

All prices posted on the LZF website display the current exchange rates as applicable to the purchase or sale of Digital Assets and/or Legal Tender using the Digital Assets and/or Legal Tender identified in your purchase order. All Digital Asset and/or Legal Tender sales and purchases by LZF are subject to market availability. LZF reserves the right to discontinue the purchase and sale of Digital Assets and/or Legal Tender without any prior notice.

 

Purchase Quotes

Before the finalization of any purchase or sale of Digital Assets and/or Legal Tender from LZF, LZF will provide you notice of the amount of Digital Assets and/or Legal Tender which you intend to purchase or sell and the amount of Funds which you will be charged in order to receive such Digital Assets and/or Legal Tender. You fully agree to comply with any and all terms and conditions provided within said notice for the purpose of completing your transaction. You acknowledge that market order quotes are estimates and may not reflect actual funds received upon execution.

 

Errors

In the event that any error occurs while the user is using the LZF website to execute any transaction, whether the error occurs through the LZF website, or in a purchase order confirmation, or in the processing of your purchase, or otherwise, LZF reserves the sole right to correct such error and to revise the details of your purchase transaction accordingly (including charging you the correct price) or to cancel the purchase and subsequently to refund any amount received from you. The sole remedy available to the user in the event of any error is to cancel purchase order in question and to obtain the refund of any amount charged.

 

Payment Method

Only payment methods that have been specified as valid by LZF will be accepted for the purchase of Digital Assets and/or Legal Tender through our website. When a user executes an order to purchase Digital Assets and/or Legal Tender from LZF, the user represents and warrants that:

  • the user is authorized to use the designated payment method; and,
  • the user authorizes LZF, or any payment processor selected by LZF, to charge your designated payment Account or method.

If the payment method which you have designated cannot be verified, is invalid, or is otherwise not acceptable to LZF, your purchase order may be automatically cancelled or suspended.

In order for LZF to proceed with any purchase order, the user henceforth agrees to resolve any problems which LZF may encounter while attempting to properly charge the user's designated payment Account or method.

 

No Returns or Refunds

All sales and purchases of Digital Assets and/or Legal Tender by LZF via the LZF website are final. LZF will not accept the return of any Digital Assets and/or Legal Tender nor will we provide refunds for any user purchase of Digital Assets and/or Legal Tender from LZF, except as otherwise provided for in the LZF User Agreement.

 

Merchant Services

The LZF Merchant Services allows Merchants to accept Digital Assets and/or Legal Tender from their customers as a method of payment, and processes the transfer of Digital Assets and/or Legal Tender to Merchants from their customers. Merchants may also sell Digital assets and/or Legal Tender, or buy Digital Assets and/or Legal Tender, using LZF, and to otherwise use the LZF Services in the same manner as any other user of the LZF website.

 

Merchant Profile

Each LZF Merchant User is required to provide accurate information in order to create a profile that will be linked with their LZF Merchant Service Account. This information may include the User's name, address, website URL, US government taxpayer ID, certain corporate documents, or any other information which LZF deems necessary.

LZF reserves the sole right to limit any LZF Merchant's Transaction volumes based on, but not limited to, the following criteria: the satisfactory completion of a LZF Merchant profile; the merchant's satisfaction of reasonable requests made by LZF for additional information; the activity history on the Account; any violations of any of the policies as set forth in the LZF User Agreement; any perceived risks; and/or repeated customer complaints about said Merchant.

 

Transaction Confirmation

Upon the successful completion of the processing of a Merchant Account payment credit, LZF will send immediate confirmation to the connected Merchant using the LZF. Merchants with newly established LZF Accounts may be required to submit to additional verification procedures in order to verify that said Merchant operates a lawful and legitimate business; the newly established Merchant Account verification process shall include, but not be limited to, the Merchant company's legal name, logo, website, phone number, address, and taxpayer identification number. LZF also requires newly established Merchant Accounts to provide a designation of whether the Merchant has a retail location or online presence only, a designation of business type, and a designation of business category. Until the completion of said verification process, recently established Merchants may experience a delayed processing of their Digital Assets and/or Legal Tender Transactions or their Conversion Service transactions.

LZF will designate any such newly established Merchant Account delayed transaction as "pending," and any Funds associated with any Transactions will not be available in the Merchant's LZF Account until the pending transaction is completed. LZF reserves the sole right to refuse to process, cancel, or to reverse any Merchant transaction as required by law, or in response to a subpoena, a court order, or any other government order, or if LZF has reason to suspect that the transaction has been executed in error, or that it is related to any Restricted Activity as set forth in the LZF User Agreement.

 

Instant Conversion

LZF may choose to offer its optional instant Conversion Service (the "Instant Conversion Service," also referred to as "Instant Exchange") to Merchants who have successfully linked a payout method to their LZF Account. The Instant Conversion Service will allow Merchants to designate the price of their goods and services in local currency (e.g., USD) and customers to pay for their purchases from such Merchant in Legal Tender, Digital Assets, or both, based on the Market Rate quoted by LZF on the LZF Site and displayed to the customer at the time that the customer approves the purchase. In connection with the Instant Conversion Service, the Merchant, as merchant of record for each transaction, shall: (i) accept Digital Assets or Legal Tender into their corresponding LZF Wallet; (ii) immediately sell such Digital Assets or Legal Tender using the LZF Instant Conversion Service, and (iii) subsequently receive the proceeds from such Legal Tender or Digital Asset sale transaction in the relevant local currency. By using this service, each Merchant agrees that regardless of any change in the price of Digital Assets or Legal Tender between the time of purchase and settlement, the Merchant will receive the fixed purchase price as designated by the Merchant in local currency at the time the customer approved the purchase.

 

Settlement

The settlement of any Merchant Account in connection with said Merchant's sale of Digital Assets and/or Legal Tender to LZF will generally take a minimum of two to three business days following the notification from LZF to said Merchant of a confirmation of the relevant transaction; exceptions to the LZF Settlement policy may at times apply.

 

Merchant Transactions

Merchants acknowledge and agree that LZF has no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that the Merchant may sell to any customers using the LZF Merchant Services. The Merchant is responsible for handling all customer inquiries related to the goods and/or services that it sells to its customers through the LZF Services, the only exception being made for inquiries made which are specifically related to payment for any and all goods or services that will be or have been handled by LZF.

The Merchant guarantees that it will not use any LZF Services in connection with any Restricted Activities, as described in the LZF User Agreement. Each Merchant further guarantees that it will not use LZF Services in connection with any transactions which involve the pre-payment of any and all orders which the Merchant does not intend to fulfill within thirty (30) days. When a Merchant chooses to issue a refund of Digital Assets and/or Legal Tender to a customer, LZF will debit the Merchant's LZF Account for said amount of Digital Assets and/or Legal Tender (or, in the event the Merchant uses the LZF Instant Conversion Service, such Merchant shall purchase the relevant amount of Digital Assets and/or Legal Tender in local currency before Digital Assets and/or Legal Tender are debited from the Merchant's LZF Account) and shall provide a refund to the customer in Digital Assets and/or Legal Tender having a value equal to the transaction amount being refunded by the aforementioned Merchant, based on the then current Conversion Rate.

 

Obligations of Merchants

In addition to any and all obligations and responsibilities as set forth elsewhere in the LZF User Agreement, Merchants using the LZF Merchant Services shall:

  • Continue to: maintain any and all licenses, registrations, authorizations, and approvals that are required for the lawful operation of their business
  • conduct all activities that are related thereto
  • utilize the LZF Merchant Services in connection therewith
  • Ensure that any and all aspects of their business, including all Merchant activities, and the activity of any third party engaged by the Merchant, the goods and serviced offered for sale by Merchant, and the acts or omissions of each Merchant in connection with their use of the LZF Website and Services comply with applicable law at all times
  • Promptly provide, and to cause any third parties under its control to promptly provide, such information as LZF may request regarding:
    • such Merchant
    • such Merchant's policies, procedures, and activities
    • any good or service offered by such Merchant and for which the Merchant may accept payment by use of LZF Merchant Services
    • any transaction conducted through the use of the LZF Merchant Services, to the extent to which LZF deems such information reasonably necessary in order to comply with LZF policies or procedures as set forth in the LZF User Agreement, applicable law, an audit, or the guidance or direction of, or request from, any regulatory authority or financial institution
 

General Obligations

 

The General Obligations Section of the LZF User Agreement applies to:

  • all trades completed through the LZF website
  • any user purchase and/or sale of Digital Assets and/or Legal Tender conducted through the LZF website or Services
  • any transaction in which you load Funds into your LZF Account from any previously approved External Account, or in which you push Funds from your LZF Account into any such External Account
 
Restrictions and Conditions

LZF reserves the right to, at any time and in our sole discretion, refuse any and/or all trades submitted through the LZF Website Services, impose limits on the trade amount permitted through the LZF Website or Services, or impose any other conditions or restrictions upon your use of the LZF Website or Services without any prior notice. LZF may, for example, limit the number of open orders that may be established by you through our Website or Services or we may restrict trades from locations which we reserve the right to determine.

 
Accuracy of Information Provided

You must provide any information requested by LZF when you create and establish any Account with LZF or at any time when prompted by any screen displayed within the LZF Website or Services. You represent and warrant that any information you provide through the LZF Website and/or Services is accurate and complete.

 
Cancellations

You may only cancel any or all orders initiated through the LZF Website or Services if said cancellation takes place before LZF has executed any specific transaction. Once a user's order has been executed, said user may not cancel, change, or withdraw the authorization for LZF to complete said transaction. If an order has already been partially filled, the user may cancel the rest of the order unless the order relates to a market trade. LZF reserves the right to refuse any or all cancellation requests associated with a market order once said order has been submitted to LZF via the LZF Website or Services. Unlike Exchange orders, once initiated, any or all Trades can not be cancelled, withdrawn, or in any manner interfered with . While we may, at our sole discretion, reverse a trade under certain extraordinary conditions, While users may not reverse a trade, LZF reserves the right, under extraordinary conditions, to reverse a Trade.

 
Taxes

It is wholly the responsibility of the user to determine the amount, if any, of taxes that apply to the Trades that you complete through the LZF Website and/or Services, and it is the user's responsibility to report and remit the correct taxes to the appropriate tax authorities. The user agrees that LZF is not responsible for determining whether any taxes may apply to the user's Trades or for collecting, reporting, withholding or remitting any and all taxes which may arise from any or all Trades.

 

Merchant Account Cancellation

If, in LZF's determination, a Merchant is believed engage in any behavior that LZF deems to be circumventing or attempting to circumvent LZF's controls, including, but not limited to, opening multiple LZF Accounts, LZF may cancel or suspend any or all corresponding Merchant Account(s). LZF Merchant Account(s) may also be cancelled or suspended according to the procedure set forth in the LZF User Agreement:

  • as required by any applicable law
  • in response to a court order, subpoena, or any other lawful government order
  • if the Merchant engages in any Restricted Activity as defined in this User Agreement
  • if LZF determines that any activity on your Account presents an increased risk of legal or regulatory non-compliance
 

Merchant Governing Law

 

Notwithstanding other sections of this User Agreement, This Agreement between the Merchant and LZF will be governed by the law of the State of New Mexico except to the extent governed by U.S. federal law.

 
English Language Controls

Notwithstanding any other provision of the LZF User Agreement, any translation of said Agreement is provided solely for the Merchant's convenience. The meanings of all terms, policies, conditions, and representations herein are subject to definitions and interpretations in the English language. Users shall be aware that any translation provided may not accurately represent the information of said Agreement in the original English.

 
Merchant Claims

Any Merchant using LZF's Merchant Services will follow the complaints procedure as before filing any legal claim. The complaints procedure can be requested by emailing [email protected] with the subject "COMPLAINTS PROCEDURE"

 
Fiduciary Accounts/Custodial Assets

You hereby certify that any Funds which you use in connection with the LZF Website and/or Services are either owned by you or that you are validly authorized to carry out Transactions using such Funds. Specifically, you acknowledge that LZF may not be a qualified custodian under any applicable law, and you represent that your use of LZF is in compliance with any applicable requirements governing the maintenance and use of custodial assets and fiduciary accounts.

 

Restricted Activities

In connection with your use of the LZF website and Services, and your interactions with other users, and with any third parties, you will not:

  • willfully violate or assist any other party in violating any statute, law, ordinance, regulation, or any rule of any self-regulatory or similar organization of which you are required to be a member (those laws, rules, or regulations, for example, that govern financial services, or consumer protections)
  • take part in any transaction which involves proceeds generated from any type of unlawful activity
  • take part in any transaction which is involved in online gambling, except where and if permitted by LZF
  • defraud or attempt to defraud LZF or other LZF users
  • infringe upon the copyright, patent, trademark, or intellectual property rights of LZF or any other third party
  • provide LZF or any other LZF user with any false, inaccurate or misleading information
  • take any action that imposes a disproportionately large or unreasonable load on LZF's infrastructure, or detrimentally interfere with, intercept, or expropriate any LZF data, system, or information
  • interfere with the access or use of any another individual or entity to any of the LZF website or Services
  • abuse, harass, defame, stalk, threaten, or in any other manner violate or infringe upon the legal rights, including, but not limited to, rights of privacy, publicity and intellectual property, of LZF or of any LZF user
  • publish, distribute or disseminate any unlawful material or information on or about the LZF website and/or Services, or about any other LZF user
  • upload any material to the LZF website that contains viruses, Trojan horses, worms, or any other harmful computer programs
  • gather, harvest, or otherwise collect information without prior consent from the LZF website about other LZF users, including but not limited to, email addresses
  • in any manner act as an aggregator or payment intermediary, or in any other manner resell any or all of the LZF Services, unless properly and duly authorized by LZF in writing
  • transfer any of the rights granted to you under this LZF User Agreement
  • use the LZF Account information of any other user or party to access or use the LZF website, except in the case of specific Merchants and/or applications which are specifically authorized by a user to access such user's LZF Account and information
  • in any manner attempt to gain unauthorized access to the LZF website, or any other LZF computer systems, Accounts, or networks connected to the LZF website, via any method, including but not limited to, password mining
  • engage in any transactions involving items that infringe upon or violate any existing copyright, trademark, right of publicity or privacy, or any other proprietary right under the law

LZF reserves the sole right at all times to monitor, review, retain and/or disclose any user or Merchant information as we deem necessary to satisfy any applicable law, regulation, legal process or governmental request.

 

Export Controls & Sanctions

The supply of Digital Assets and/or Legal Tender and the LZF Services through the LZF Website is subject to any and all US and international export controls and economic sanctions requirements. When you purchase any of the aforementioned items via the LZF Website or Services, you guarantee and represent that your purchase is in accordance with all federal and international laws and policies as mentioned herein, and you certify that your use of any or all of the said items will as well be in accordance with those requirements.

Without limiting the foregoing, you may not acquire Digital Assets and/or Legal Tender or any of the LZF Services through the LZF Site if:

  • you are residing in, a national or resident of, or under the control of any of the following nations: Cuba, Iran, North Korea, Sudan, Syria, or any other country subject to US embargo, UN sanctions, or the HM Treasury's financial sanctions regime
  • if you are on the US Treasury Department's Specially Designated Nationals List, the US Commerce Department's Denied Persons List, Unverified List, or Entity List
  • you intend to supply the acquired Digital Assets and/or Legal Tender or LZF Services to Cuba, Iran, North Korea, Sudan or Syria or any other country subject to US embargo or UN sanctions (or if you are a national or resident of one of the countries herein), or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List, or Entity List, or the HM Treasury's financial sanctions regime
 

Acceptable Use

 

When you access or use the LZF Website and/or Services, you agree that you will not violate any contract, law, intellectual property, or any other third party right, or commit a tort, and you certify that you are the sole entity responsible for your conduct while you use our Website or Services. Without limiting the generality of the foregoing, you specifically agree that you will not:

  • use the LZF Website or Services in any manner that may disrupt, interfere with, negatively affect, or in any manner inhibit other users from fully enjoying our Website or Services, or that could overburden, disable, damage, or impair the proper functioning of the LZF Services in any manner
  • use LZF to pay for, support or otherwise engage in any illegal gambling activities, fraud, money-laundering, terrorist activities, or any or all other illegal activities
  • use any spider, crawler, robot, spider, or other automated means or interface not provided by us to access our Website or Services or to extract any data
  • use or attempt to use another LZF User's account without express authorization
  • attempt in any manner to circumvent any of the content filtering techniques which LZF employs, or attempt to access any service or area of our Website or Services that you do not have authorization to access
  • develop any third-party applications that interact with LZF without our express prior written consent
  • provide any false, inaccurate, or misleading information
  • in any manner attempt to encourage or induce any third party to engage in any of the activities prohibited in this User Agreement
 

Relationship of the Parties

LZF is an independent contractor for all privileges and purposes. Nothing in this Agreement shall be deemed or is intended to be deemed, nor shall it cause, you and LZF to be treated as partners, joint ventures, or otherwise as joint associates for any intent, purpose, profit, or reason. For all purposes and in every and all situations, neither you nor LZF shall be treated as the agent of the other.

 

Service Providers

LZF may at any time employ or engage any third party or parties (a "Service Provider") in assisting LZF to provide certain aspects or functions of the LZF Website Services. Service Providers may include, but are not limited to, LZF's banking partners or technology and engineering service providers.

 

Your Privacy

Protecting your privacy is of utmost importance to LZF. Please read and periodically review our Privacy Policy, which is hereby incorporated by reference into this LZF User Agreement, in order for you to better understand our commitment to maintaining your privacy, as well as to understand how we use and disclose your information.

 

Privacy of Others; Marketing

If any LZF user receives information about any other LZF user or users through the LZF Website or Services, the user must keep the information confidential and must only use said information in direct connection with the LZF Website and/or Services. The user may not disclose or distribute any other LZF user's information to any third party or use the information except as reasonably necessary to execute a LZF Transaction and/or other reasonable functions such as support, reconciliation and accounting, unless the user has received express and lawful consent. Under no circumstance shall any LZF user send unsolicited email to any other LZF user through the LZF Website and/or Services.

 

Password Security and Keeping Your Contact Information Current

Each LZF User is solely and wholly responsible for maintaining adequate security and control of any and all of their IDs, passwords, hints, personal identification numbers (PINs), API keys, or any other codes that are customarily used by said User to access the LZF Website and/or Services. Any failure of secure measures used on the art of any LZF User that results in a loss or compromise of said User's personal information may result in unauthorized access to your LZF Account by any third-party or parties and the potential loss or theft of any Digital Assets and/or a Legal Tender and/or Funds which may be held in your LZF Account and any associated or connected accounts, including, but not limited to, your linked bank account(s), debit or credit card(s). The User is solely and wholly responsible for keeping their email address and telephone number up to date in their LZF Account Profile in order to receive any notifications or alerts that we LZF may choose to send to you. LZF assumes no responsibility for any loss that you may suffer due to any compromise of your personal information or for any failure to follow or act upon any notifications or any alerts which we may choose to send to you. In the event that you believe that any of your LZF Account information has been compromised, please contact LZF Support immediately at [email protected]

 

Consent to Electronic Records

Through your use of the LZF Website or Services, you implicitly agree that LZF may provide you with any notifications or any other communications about your LZF Account and about the LZF Services electronically either through email (to the address that you have provided us), SMS message, or telephone call (to the phone number that you have provided us); or, by posting said notification to the LZF Website . For notifications made through email, the date of receipt will be deemed to be the date on which said notification is transmitted.

If you do not wish to receive any notifications or any other form of communications electronically from LZF, we may not be able to provide adequate support for your LZF Account and your LZF Account may be cancelled in accordance with the terms of this Agreement.

 

Consent to Electronic Delivery

All LZF Users agree and consent to electronically receive all communications, agreements, documents, receipts, notifications, and disclosures (collectively known herein as "Communications") that LZF provides for its Users in connection with any User's LZF Account and/or use of the LZF Website and/or Services. The User agrees that LZF may provide any and all Communications to the User by posting them through the LZF Website, by emailing them to the email address that the User has provided, and/or by sending an SMS or text message to a mobile phone number that said User has provided. The User shall be made aware that their electronic communication carrier's normal, data, messaging, and other fees and rates may apply to any and all Communications made through their provided services. The User is encouraged to maintain copies of all electronic Communications by printing a paper copy or by saving an electronic copy. Users may also contact LZF through our support services at [email protected] to make any request for additional electronic copies of Communications or, for a fee to be determined by us, paper copies of Communications as described in the LZF User Agreements Agreement.

 

Hardware and Software Requirements

In order to access and retain electronic Communications, any LZF User shall require a computer that: has an Internet connection with an up to date web browser; is cookie enabled; and has 256-bit encryption. The User also is required to have a current and valid email address on file with LZF and to have storage space of sufficient size to save past Communications or the ability to to print hard copies of said Communications.

 

Withdrawal of Consent

Any LZF User can withdraw their consent to receive any or all LZF electronic Communications by emailing or by sending a withdrawal notification to our support staff at [email protected] . If any LZF User declines or withdraws consent to receive electronic Communications from us, LZF may suspend or terminate their use of the LZF Website and/or Services.

 

Updating Contact Information

As a LZF User, it is entirely and solely your responsibility to keep any and all of your LZF Account contact information, including but not limited to your address and/or your phone number, current so that LZF can communicate with you as any need for such may arise. You understand and you agree that if LZF sends you an electronic Communication but you do not receive said notice for any reason including, but not limited to, the email address or phone number on file for you is incorrect, out of date, or blocked by your service provider, or if you are for any reason not able to receive any or all electronic Communications, LZF will still be deemed as having provided the Communication to you. Users of he LZF Website or Services can update email addresses, phone numbers, or street addresses at any time by logging the User's LZF Account and making such changes, or by sending such information to [email protected]. If a User's email address or phone number becomes invalid in such a manner that electronic Communications sent to that User are returned or are for any reason undeliverable, LZF reserves the sole right to make the determination that said User's Account is inactive, and further, that said User may not any longer be able to complete any Transaction through our Services until such time and date as we receive a valid, working email address or phone number from such User.

Please take note that if you use a spam filter that blocks, or reroutes, emails from senders who are not listed in your email address book, you must add LZF to your email address book so that you will be able to receive the Communications that we at times will deliver to you.

 

Notices to LZF

Please send us any notices to LZF via our support team at [email protected]. Notices can also be sent through the US mail to this address: 105 Braunlich Drive, Suite 300, Pittsburgh, PA 15237.

 

Limited License

LZF grants all LZF Users a limited, nonexclusive, nontransferable license, subject to the terms of the LZF User Agreement, to access and use the LZF Website and/or Service, and the content, materials, information and functionality available in connection therewith (collectively, the "Content") solely for informational, transactional, or other approved purposes as permitted by LZF from time to time; any other use of the LZF Website or any LZF Content is expressly prohibited.

All other rights in the LZF Website or Content are reserved by us and by our licensors. We reserve all rights in the LZF Website and Content and you, the LZF User, understand and agree that this Agreement does not in any way grant you any rights in or any licenses to the LZF Website or the Content, except for this express, explicitly limited license. You will not in any manner or otherwise copy, transmit, sell, resell, license, distribute, reverse engineer, decompile, disassemble, modify, publish, participate in the transfer or sale of, display, create derivative works from, perform, incorporate into another website, or in any other way exploit any of the LZF Website and/or Service, or Content or any other part of the LZF Website or any derivative works thereof, in part or whole, for any commercial or for any non-commercial purposes.

Without in any manner limiting the foregoing, you will not frame or display the LZF Website and/or Service or Content as part of any other website or as part of any other work of authorship without first obtaining written permission. If you violate or infringe upon any portion of the LZF User Agreement, your permission to access and use the LZF Website and/or Services may be terminated, as determined by LZF, pursuant to the policies and regulations as set forth in this Agreement; LZF reserves the sole right to avail itself of any and all legal remedies available any violation. "LZF.com", "LZF", and all logos related to the LZF Website and/or Services or displayed on the LZF Website are either trademarks or registered marks of Laissez Faire Financial, LLC, or its licensors, and you may not copy, imitate, or use any or all of them without LZF's explicit and prior written consent.

 

Website Accuracy

Though LZF strictly endeavors to provide timely, updated, and accurate information on the LZF Website, any or all such information may not always be entirely accurate, complete, or up to date, and may also include any technical inaccuracies or typographical errors. In an ongoing attempt to continue to provide you with updated, complete, and accurate information, we shall, from time to time, update and alter posted information with no prior notification, including, but in no manner limited to, information regarding our policies, our products, and our services. The User is advised to verify any and all information, and the User shall be aware that all decisions based on any information contained on the LZF Website are the sole responsibility of the User and LZF shall bear no liability for any User decisions based on said posted information.

 

Third Party Content

The LZF Website and/or Services may at times contain content, references, or links, to third party materials including, for example, Facebook and Twitter links and to third party applications which are in no manner controlled by LZF. Such content, information, links, and/or third party applications are provided by LZF for our Users solely as a convenience; any such links should in no manner be considered to be an endorsement on the part of LZF, and any such reference in no manner represents our endorsement, affiliation, recommendation, or sponsorship of any such third party property, product, service, or process. The User acknowledges and agrees that LZF is in no manner responsible for any aspect or portion of the information, content, or services contained in any third party materials or on any third party websites linked to the LZF Website, including but not limited to, any property, goods, or services available on the linked sites or services.

LZF in no manner controls, endorses, or adopts any third party content and shall bear no responsibility for such, including without limitation any material that may be erroneous, misleading, incomplete, offensive, or in any other respect deemed to be objectionable. The User's dealings or correspondences with any third parties are solely between said User and such third parties; LZF is in no manner responsible or liable for any damage or loss which may be incurred as the result of any such dealings, and the User should be aware that any use of third party content, and any interactions with such third parties is wholly at the User's own risk.

 

Application Programming Interface

In order to use LZF's Application Programming Interface ("LZF API") will need to comply with any and all terms of the LZF User Agreement and/or any other conditions as we may, from time to time, determine in our sole discretion. The LZF API is owned by Laissez Faire Financial, LLC, and is licensed to LZF API Users on a non-exclusive and a non-sublicensable basis.

 

Computer Viruses

LZF shall in no manner bear any liability for any damage or any interruptions that may be caused by: any spyware; computer viruses; scare ware; trojan horses; worms; spoofing; phishing; other malware that could in any manner effect your computer or other electronic equipment; or any other type or form of attack. LZF advises all LZF Users to employ the regular use of high quality virus screening and prevention software. All LZF Users shall also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing any and all messages which purport to originate from LZF. LZF Users should log into their LZF Accounts through the LZF Website in order to review any and all Transactions or required actions if there is any uncertainty with regards to the authenticity of any communication or notification.

 

Customized LZF Payment Page

Any LZF User can use their LZF Account to establish a customizable payment page ("Payment Page") which will allow others to easily send Digital Assets and/or Legal Tender to their LZF Account. Any and all LZF Users may establish and customize their own Payment Page through the LZF Account settings, which will allow said User to establish a User handle and an associated Payments Page URL, upload any photo, and provide a description of such. In establishing a LZF Payment Page and uploading or adding any text, photo, or any other material, any and all LZF Users agree to not:

  • post misleading materials or misappropriate the identity of another person or entity
  • post any copyrighted material which said User does not have authorization to post
  • post any unlawful, profane, or offensive materials

LZF, at its sole discretion, may at any time disable your LZF Account and may take any and/or all other actions in accordance with this Agreement if we believe you are in violation of the foregoing. LZF may reclaim any User handles that are linked with dormant LZF Accounts. LZF does not guarantee or endorse the purported identity, message, or other information posted by Any User to such User's's LZF Account.

 

Contacting LZF

If you have any questions, feedback, or complaints, please contact us through our Customer Support at [email protected] or write to us at LZF Customer Support, 105 Braunlich Drive, Suite 300, Pittsburgh, PA 15237. When you contact us please provide us with your name, your address, and any other information which we may assist us in identifying you, your LZF Account, and any specific transaction for which you may want to provide us feedback, ask questions, or make any complaints.

The User shall be made aware that LZF shall own any and all exclusive rights, including all intellectual property rights, to any suggestions, any feedback, any ideas or to any other information or materials regarding LZF or our Services that any User shall choose to provide, whether said information or materials are sent by email, posted through our Website or Services or otherwise. Feedback which any User submits to LZF is considered to be non-confidential and shall become the sole property of LZF. LZF shall be and shall remain entitled to the unrestricted use and to the dissemination of such feedback, information, or materials for any and every purpose, commercial or otherwise, without any acknowledgment or any compensation to the User who provides such; LZF Users waive any rights to the feedback, including any copyrights or any moral rights. LZF will also retain the right to disclose the identity of any User who provides feedback to any third party who may claim that some or any of the content which you posted constitutes a violation of their intellectual property rights, or of their right to privacy. LZF retains the right to remove any and/or all postings which you may choose to make on the LZF Website if, in our sole determination, your post does not comply with the content standards as set forth in this LZF User Agreement.

 

Applicable Law; Arbitration

LZF strongly encourages all Users to read the following --------- carefully as herein you are agreeing that you will arbitrate any and all disputes directly and solely with us and that you agree to limit the manner in which you can seek any legal or financial relief.

You and LZF both agree to arbitrate any dispute arising from the LZF User Agreement and/or your use of any and/or all of the LZF Website and/or Services, except for any disputes in which either of the herein named parties seeks equitable and other relief for the alleged unlawful use of trademarks, copyrights, logos, trade names, trade secrets, or patents. You and LZF both agree to notify one another in writing of any and/or all disputes within thirty (30) days from the date when said dispute arises. Any notification of a potential dispute with LZF shall be sent to [email protected].

You and LZF further agree:

  • to attempt to resolve said informal resolution prior to any and/or all requests for arbitration
  • that any and all arbitration between the two named parties shall take place in Pittsburgh, Pennsylvania
  • that any and/or all arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of JAMS
  • that the state or federal courts in Pittsburgh, Pennsylvania have exclusive and complete jurisdiction over any and/or all appeals of any and/or all arbitration awards, and over any suit which may occur between the parties which is not subject to arbitration

Other than any class procedures and/or remedies as detailed in the LZF User Agreement, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Any dispute between the two parties shall be governed in whole by the LZF User Agreement and by the laws of the State of New Mexico and by all applicable US laws, without giving in any way effect to any/or all conflict of laws principles that may provide for the application of the law of another jurisdiction. Whether the dispute between said parties is heard in arbitration only or in court, you and LZF will in no manner commence against each other any class action, class arbitration, or representative action or proceeding.

LZF most strongly encourages all LZF Users to note and to understand that engaging in arbitration prevents said a User from suing LZF in court or from having a jury trial.

 

Arbitration; Waiver of Class Action

For any and/or all claims for injunctive or equitable relief or for any and/or all claims regarding intellectual rights, which may in general be brought in any competent court without the posting of a bond, any dispute which may arise under this LZF User Agreement shall be finally settled on an individual basis in accordance with the American Arbitration Association's rules for arbitration of consumer related disputes, and you and LZF hereby expressly waive any potential trial by jury.

The arbitration between said parties shall occur in Pittsburgh, Pennsylvania, it shall occur in the English language, and the arbitral decision shall be enforced in any court.

At the request of the LZF User, hearings may be conducted in person or by telephone and the arbitrator may provide for submitting and determining motions on any and/or all briefs, without oral hearings. The prevailing party in any action or proceeding to enforce this agreement shall be entitled to receive from the other party both costs and attorney's fees. Additionally, the LZF User hereby waives the right to participate in any and/or all class action lawsuits or class action arbitrations.

 

Time Limitation on Claims

All LZF Users agree that any claim made that may arise out of or related to any relationship with LZF must be filed within one year after any such claim arose, otherwise such claim is permanently barred.

 

Limitations of Liability

Under no circumstance shall LZF, it's affiliates and/or service providers, or any of their respective directors, officers, joint venturers, agents, employees, or representatives, be in any and/or all manner liable for any lost or potentially lost profits or from any special incidental or consequential damages which may arise out of or in connection with the LZF Website or Services, or with this LZF User Agreement, with no regard for how they may arise, including, but not limited to, negligence.

As certain US states do not allow the limitation or exclusion of incidental or consequential damages, any and/or all limitations or exclusions referenced above may not apply to all LZF Users.

The liability of LZF, it's affiliates and its service providers, or any of their respective officers, directors, agents, joint venturers, employees or representatives, to you or any and/or all third parties, in any circumstance, is limited to the lower of either the actual amount of direct damages, or any fees paid to LZF by you in the preceding three months.

 

Release of LZF

If any LZF User has a dispute with one or more other Users of the LZF Services, said User releases LZF, its affiliates and service providers, and each of their respective officers, directors, agents, joint venturers, employees and representatives from any and all claims, demands and damages (actual and consequential) of every kind and nature which may arise out of or in any way be connected to any such disputes.

In addition, all LZF Users waive any protection available under California civil code 1542, which says: general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if not known by him must have materially affected his settlement with the debtor.

 

Disclaimer of Warranties

Except and unless as expressly intended in writing by LZF, our services are provided exclusively on an "as is" and "available" basis. LZF expressly disclaims, and any LZF User waives, all warranties of any kind, whether implied or express, including, but not limited to, implied warranties of merchantability, fitness for any particular purpose, title and non-infringement as to the LZF Services, including the information, content, and materials contained therein.

All LZF Users acknowledge that any information that may be stored or transferred through our services has the potential to become corrupted, irretrievably lost, or temporarily unavailable due to any variety of causes, including, but not limited to, an action in contract, tort (including but not limited to negligence) or otherwise, any software failures, protocol changes by third party providers, internet outages, Force Majeure events, or any other disasters including third party DDOS attacks, scheduled maintenance, or any other causes either within or outside of LZF control. The User is solely responsible for backing up and maintaining duplicate copies of any information stored or transferred through LZF Services.

Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. As such, some of the limitations of this section may not apply to you.

Some jurisdictions will not allow any disclaimer of implied terms in warranties and/or contracts made with consumers, as such some or all of the disclaimers in this section may not apply to each and/or every LZF User.

 

Indemnity

As a LZF user, you agree to defend, indemnify and in all manners hold LZF harmless, including as well each and every LZF officer, director, member, employee, agent, and affiliate, from any claim, demand, action, damage, loss, cost, or expense, including, without limitation, reasonable attorneys’ fees, which may arise out of or be related to:

  • your use of, or conduct in connection with, the LZF Website and/or Services
  • any Feedback you provide to LZF
  • your violation of the LZF User Agreement
  • your violation of any law, rule, regulation, or of the rights of any other person or entity

If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it.

 

Entire Agreement

The LZF User Agreement sets forth the entire understanding and agreement between any LZF User and LZF as to the subject matter hereof, and supersedes any and all prior agreements, discussions, and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between and among you and LZF.

 

Assignment

The LZF User Agreement, and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by LZF without restriction, including without limitation to any of its affiliates or subsidiaries, or to any successor in interest of any business associated with the LZF Services. Any attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, this LZF User Agreement will bind and inure to the benefit of the parties, their successors and assigns.

 

Severeability

If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law or regulation or under any governmental agency, local, state, or federal, such or any provision will be changed and interpreted to accomplish the objectives of the provisions to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of this LZF User Agreement shall not be affected.

 

Change of Control

In the event that LZF is acquired by, or merged with, any third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information which we have collected from any and/or all LZF Users as part of any such merger, acquisition, sale, or other change of control.

 

Survival

All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, the Suspension/Termination and LZF Account Cancellation Section, the Payments Section, the Use of the LZF Site Section, the Disputes with LZF Section, and the General Provisions Section, shall survive the termination or expiration of this Agreement.

 

Force Majeure

LZF shall not be liable for any inaccuracies of, errors in, delays in, or omissions of any information, failures in performance, or interruptions of service or any loss or damage which may result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to any delay or failure due to any: act of God; flood; earthquake; extraordinary weather condition; fire; war; riot; labor dispute; accident; power failure; act of civil or military authorities; act of terrorists; civil disturbance; war; strike or other labor dispute; fire; interruption in telecommunications; Internet services or network provider services; failure of equipment and/or software; any other catastrophe; or, any other occurrence which is beyond our reasonable control (each, a "Force Majeure Event") and shall not affect the validity and enforceability of any remaining provisions.

 

Section Headings

The labelled section headings in this LZF User Agreement are for convenience only, and shall not in any manner govern the meaning or interpretation of any provision of this Agreement.

 

UNCLAIMED PROPERTY

If for any reason LZF is holding any Funds in your LZF Account on your behalf, and if LZF is not able to return said Funds to your selected External Account after a period of inactivity, then LZF may report and remit such Funds in accordance with applicable state unclaimed property laws.

 

Account Suspension or Termination

In the event of any Force Majeure Event, as detailed above, any breach or violation of the Terms of this agreement, or any other event that would make the continued provision of the LZF Services to any User commercially, or otherwise, unreasonable for LZF, we may, in our sole discretion and without liability, with or without prior notice, suspend such User access to all or a portion of all of our Services. LZF may terminate any User's access to the Services at our sole discretion, immediately, and without any prior notice given, and may deactivate or delete Said User's LZF Account and any or all related information and files in said Account without liability. In the event of termination, LZF will make a good faith attempt to return any Funds stored in a User's LZF Account not otherwise owed to LZF, unless LZF believes that such User has committed negligence or some other form of documentable misconduct.

 

Discontinuation of Services

LZF may, at our sole discretion, and without any liability to any or all LZF User, with or without prior notice, and at any time, modify or discontinue, temporarily or permanently, any portion of the LZF Services.

 

Copyrights and Other Intellectual Property

Unless otherwise explicitly expressed by LZF, all copyright and other intellectual property rights in all content and in all other materials contained on our Website, or provided in direct or indirect connection with the Services, including but not limited to, the LZF logo and all designs, pictures, graphics, text, data, information, software, sound files, any other files, and the selection and arrangement thereof (collectively, "LZF Materials") are the proprietary property of LZF or our contracted licensors or suppliers, and are as such protected by US and international copyright laws and other intellectual property rights laws.

LZF hereby grants you a limited, nonexclusive, and non-sublicensable license to access and use the LZF Website, Services, and Materials for your personal and/or internal business use. Said license is subject to the LZF User Agreement and does not permit:

  • any resale of any and/or all LZF Materials
  • any distribution, or any public display or performance of any LZF Materials
  • any modification or manner of making any derivative uses of the LZF Materials, or any and/or all portion thereof
  • any use of any of the LZF Materials other than for their intended and stated purposes

The license granted by us to you under this Section will automatically be suspended or terminated by LZF if we suspend or terminate your access to the Services.

 

Trademarks

"LZF," and the LZF logo, and any other LZF Service, Materials, product or service names, logos, or slogans that may appear on he LZF Website and/or Services are trademarks of LZF, in both the United States and in other countries, and may not be copied, imitated or used, in whole or in part, without our express, prior written permission. You may not use any trademark, product, or service name of LZF or the LZF Website or Services without our express, prior written permission, including, but not limited to, any metatags or other "hidden text" utilizing any trademark, product, or service name of LZF.

The overall, designed look and feel of our Services, including all of the page layouts, page headers, button icons, scripts, and any of our custom graphics, is the service mark, trademark and/or trade dress of LZF and may not be copied, imitated or used, in whole or in part, without our express, prior written permission.

All and any trademarks, registered trademarks, product names, company names, or logos mentioned or displayed through the LZF Website and Services are the property of their respective owners. Any of the aforementioned references on the LZF Website and Services to any products, services, processes, or to any other information, by name, trademark, manufacturer, supplier, or otherwise in no manner constitutes or implies any endorsement, sponsorship, or recommendation of such by LZF.

 

Amendment

LZF reserves the sole right to make changes or modifications to this LZF User Agreement from time to time, in our discretion. If LZF choose to make changes to these Terms, we will provide all LZF Users with notice of said changes, such as by sending an email, providing notification on the LZF Website, and/or by posting the amended Terms through any applicable LZF mobile applications and by updating the date for the Last Update at the top of these Terms. For any and all new Users of the LZF Website and Service, the amended LZF User Agreement will be deemed to be in effect as soon as the new posting is complete; for all preexisting LZF Users, the amended Terms will go into effect upon the earlier of either the date which any Users click or press a button to indicate that they accept said changes, or any User's continued use of the LZF Website and/or Services 30 days after LZF notifies said Users of the notice of such changes.

Any LZF User who chooses not to accept any and/or all of he amended Terms must cease all use of the LZF Website and/or Services and must immediately contact LZF for the purpose of terminating their use of our Services.

 

Waiver

Any LZF failure or delay in the exercising of any right, power, or privilege as set forth under this LZF User Agreement shall not in any manner operate as a waiver thereof.

 

Assignment

No LZF User may assign or transfer any of the rights or obligations gained under this LZF User Agreement without prior, express, written consent from LZF, including by operation of law or in connection with any change of control. LZF may transfer or assign any or all of its rights under these this User Agreement, in whole or in part, without obtaining the consent or approval of any LZF User.

 

Errors or Questions about Transactions

Please contact us by emailing us at [email protected] (1) if you believe a transaction receipt or a statement is wrong, or (2) if you need more information about a transaction on the receipt or statement. For consumer accounts, we must hear from you no later than sixty (60) days after we sent you the first statement on which the error or problem appeared. For business accounts, we must hear from you within one (1) business day of us sending you a receipt. Your inquiry must include: (x) your name, email associated with your account, and your account number (if available); (y) a description of the error or the transaction you are unsure about, and a clear explanation of why you believe there is an error or why you need more information; and (z) the dollar amount of the suspected error. If you tell us orally, we may require that you send us your inquiry via email within ten (10) business days.

Time Periods

Ten-Day Time Period - LZF will investigate promptly and, except as otherwise provided in this paragraph, shall determine whether an error occurred within 10 business days of receiving a notice of error. LZF shall report the results to the consumer in writing within three business days after completing its investigation. LZF shall correct the error within one business day after determining that an error occurred.

Forty Five-Day Time Period - If LZF is unable to complete its investigation within 10 business days, LZF may take up to 45 days from receipt of a notice of error to investigate and determine whether an error occurred, provided LZF does the following:

1) Provisionally credits the consumer's account in the amount of the alleged error (including interest where applicable) within 10 business days of receiving the error notice. LZF need not provisionally credit the consumer's account if:

  • LZF does not receive written confirmation within 10 business days of an oral notice of error; or
  • The alleged error involves an account that is subject to Regulation T (Securities Credit by Brokers and Dealers, 12 CFR part 220)

(2)Informs the consumer, within two business days after the provisional crediting, of the amount and date of the provisional crediting and gives the consumer full use of the funds during the investigation; (3) Corrects the error, if any, within one business day after determining that an error occurred; and (4) Reports the results to the consumer within three business days after completing its investigation (including, if applicable, notice that a provisional credit has been made final).

(3) Extension of time periods. The time periods described above may be extended as follows:

  • Extension of Ten-Day Time Period - The time limit for resolution is extended to 20 business days in place of 10 business days if the notice of error involves an electronic fund transfer to or from the account within 30 days after the first deposit to the account was made; or
  • Extension of Forty Five-Day Time Period - The time limit for resolution is extended to 90 days in place of 45 days for completing an investigation, if a notice of error involves an electronic fund transfer that occurred within 30 days after the first deposit to the account was made.