Last updated: November 18, 2024
The present agreement (hereinafter referred to as the "Agreement") constitutes a legal document between You (hereinafter referred to interchangeably as “You,” the “User,” or collectively as the “Users”) and BERILIO NITRÓGENO NU, SOCIEDAD LIMITADA, with Tax ID B75363457, domiciled at Paseo de Gracia No. 53, 8th Floor, 08007 Barcelona, Catalonia (hereinafter referred to interchangeably as “Bennu” or the “Company”). The terms and conditions outlined below govern the access to and use of the Bennu platform, which comprises the website https://bennu.app/ (hereinafter, the “Website”), the Bennu mobile application (hereinafter, the “App”), and the services provided through these platforms (hereinafter, the “Services”).
By accessing or using the Website and/or the App, You, whether on your own behalf or representing a legal entity, accept these Terms and Conditions, as well as the Privacy Policy and other applicable regulations incorporated herein by reference. If acting on behalf of a legal entity, You warrant that you have the necessary legal authority to accept these Terms and Conditions on its behalf.
These Terms and Conditions may be modified by Bennu at any time by publishing the changes on the Website. Users are encouraged to review the Terms and Conditions periodically. Continued use of the Website and/or the App after any modification will be considered as acceptance of the changes.
1. Who Are We?
Bennu is a company dedicated to providing financial services through the use of new technologies. We are in the process of obtaining a license as a Financial Technology Institution of the Banking Sector (ITFB), in accordance with Resolution No. 001.21 dated January 4, 2021, containing the "Regulations Governing Financial Technology Services of the Banking Sector (FINTECH)," reprinted in the Official Gazette of the Bolivarian Republic of Venezuela No. 42,162, dated July 6, 2021.
Financial Technology Institutions of the Banking Sector (ITFB) are all public or private legal entities, national or foreign, that provide financial services through the use of new technologies, in accordance with the aforementioned regulations.
2. User Registration
To use Bennu’s Services, the User must download the App and create a Bennu Account. During the registration process, the User will be required to provide personal information and create a password. The User must be over 18 years of age and have the legal capacity to contract. In the case of legal entities, the entity must be established and operating in Venezuela, and the person acting on its behalf must have sufficient authority to legally bind it.
The information provided during registration must be truthful and authentic. Bennu reserves the right to request additional information and/or documentation, as well as to reject, suspend, or close the Account if inconsistencies are detected in the data provided or if they cannot be verified. The User authorizes Bennu to make the necessary inquiries to validate their identity and the ownership of their banking instruments.
It is prohibited for a User to have more than one Account. Bennu may suspend duplicate or related accounts.
The User is responsible for maintaining the confidentiality of their password and all activities carried out under their Account. The User must immediately notify Bennu in case of any unauthorized use of their Account or any other security breach.
3. Linking Bank Accounts and Cards
The User may link their Bennu Account to their bolivar-denominated bank accounts (hereinafter, “Linked Bank Accounts”) and debit or credit cards (hereinafter, “Cards”) for which they are the account holder. These can be used to load funds into their Virtual Wallet and conduct transactions through the App. Only Linked Bank Accounts and Cards denominated in bolivars and held in the User’s name will be accepted. Any attempt to link third-party accounts or cards will be rejected and may lead to Account suspension.
4. Services Provided
4.1. Virtual Wallet
The User can manage their funds through a virtual wallet (hereinafter, “Virtual Wallet”) in which funds can be deposited. The User’s balance in the App will be reflected in bolivars.
To load funds into the Virtual Wallet, the User must transfer funds from their Linked Bank Account to the bank account specified by Bennu (hereinafter, the “Receiving Account”). Bennu will be the sole owner of this Receiving Account, which will be managed exclusively by the Company. The funds deposited in the Receiving Account remain the property of the User and will be used to execute transactions requested through the App.
Bennu will not be responsible for the insolvency of financial institutions holding the funds or for political or economic decisions that may affect their availability.
4.2. Transactions
Users can make transfers to third parties, receive transfers, make payments, and request payments through the App, using the funds available in their Virtual Wallet.
- Transfers and payments to third parties: The User can send funds to other Users by entering the amount and the recipient's email address or by scanning a QR code. If the recipient is not a Bennu User, they will receive an invitation to register. If they do not register within 1 hour, the transaction will be canceled, and the funds will be returned to the sender.
- Receiving transfers: The User can receive funds from other Users by providing their email address or sharing their QR code.
- Requesting payments: The User can request a payment from another User through the App. Bennu will manage the payment request, and once the recipient accepts and completes the payment, the funds will be credited to the requester’s Virtual Wallet.
Bennu will not be responsible under any circumstances for the existence, quality, functioning, or legitimacy of goods or services offered or acquired by the User and paid for through the App.
The User is responsible for verifying their transaction history and notifying Bennu of any discrepancies within 30 days of the transaction date.
5. Fees and Limits
Downloading the App and using Bennu’s basic services are free of charge. However, Bennu may establish fees for specific transactions, which will be communicated to the User before being applied.
Bennu is not responsible for any fees or charges that financial institutions may impose for transfers to the Receiving Account or by card issuers for card usage.
Bennu may set limits on the amount and/or number of transactions that Users can send or receive, in accordance with applicable regulations. Any changes to fees or limits will be published on the Website and notified to the User through the App.
6. Service Availability
The availability of the Services may vary depending on the User's internet or telecommunication quality. Bennu does not guarantee uninterrupted availability of the Services and is not liable for any interruptions or failures.
7. Account Suspension and Termination
Bennu may suspend or close the User’s Account under the following circumstances:
a) If unauthorized access to the Account is detected due to negligence in safeguarding access credentials by the User.
b) If transactions are associated with fraud, illegal activities, or non-compliance with applicable regulations, including anti-money laundering regulations.
c) If the creation or attempt to create multiple Accounts by the same User is detected.
d) If the User violates these Terms and Conditions or any applicable legal provision.
In the event of suspension or closure, Bennu will notify the User via registered contact details, explaining the reasons and procedure to follow.
8. Force Majeure
Bennu will not be liable for non-compliance or delays in fulfilling its obligations due to events beyond its reasonable control, such as natural disasters, armed conflicts, telecommunication disruptions, government actions, or other force majeure or fortuitous events.
9. Termination of the Agreement
The User may request to close their Account at any time by sending a request to hello@bennu.app. Bennu will process the request once pending transactions are completed and will return the available funds within a maximum of five (5) business days.
Bennu may also terminate the Agreement and close the User’s Account, notifying the User and returning the available funds under the same terms.
10. Relationship with Third Parties
The User understands and agrees that Bennu collaborates with financial institutions and third-party service providers to deliver the Services. These may require sharing the User's personal information, which will be handled according to our Privacy Policy and applicable laws.
11. Electronic Communications
The User agrees to receive communications, notifications, and agreements related to the Services through electronic means, including email, in-app messages, or Website notifications. These communications will have the same legal validity as if provided in writing.
12. Intellectual Property
All content, trademarks, logos, and text used on the Website and App are the property of Bennu or its licensors. The User agrees to respect intellectual property rights and not use them without prior written authorization from Bennu.
13. Privacy and Data Protection
Protecting the User’s personal data is a priority for Bennu. All information provided is handled in accordance with our Privacy Policy, available at https://www.bennu.app/politica-de-datos-y-privacidad, and applicable data protection laws.
14. Indemnification
The User agrees to indemnify and hold harmless Bennu, its directors, employees, and representatives, from any claims, damages, losses, or expenses arising from the User’s breach of these Terms and Conditions or applicable legislation.
15. Modifications
Bennu reserves the right to modify these Terms and Conditions at any time. Changes will be published on the Website and notified to the User through the App. Continued use of the Services after notification implies acceptance of the new terms.
16. Severability
If any provision of these Terms and Conditions is declared invalid or unenforceable by a competent authority, the remaining provisions will remain in full force and effect.
17. Confidentiality
The User agrees to maintain the confidentiality of any information accessed through the use of the Services and not to disclose it to third parties without prior written authorization from Bennu.
18. Dispute Resolution and Governing Law
Any dispute arising in connection with these Terms and Conditions will be resolved in accordance with the laws of the Bolivarian Republic of Venezuela. The parties agree to submit to the jurisdiction of the competent courts in Caracas, Venezuela.
19. Anti-Money Laundering Compliance
Bennu complies with applicable regulations on anti-money laundering, counter-terrorism financing, and financing the proliferation of weapons of mass destruction. The User agrees that Bennu may request additional information to meet these obligations and report suspicious activities to the relevant authorities.
20. Contact and Notifications
Bennu will communicate with the User through the contact details provided during registration. The User is responsible for keeping their contact information updated.
For any inquiries or notifications, the User can contact Bennu via email at hello@bennu.app.
