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General Terms of Service

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COOWN — General Terms of Service

Last Updated: 06 JAN 2026

These Terms of Service ("Terms") constitute a binding agreement between COOWN INIT S.R.L. ("COOWN Sandbox Operator," "we," "our," or "us") and all users ("Users," "you," or "your") using COOWN's platform and services. By using COOWN, you agree to be bound by these Terms.

1. Introduction

COOWN operates a decentralized application (dApp) on coown.finance that allows Users to manage group accounts through a multi-signature wallet. This wallet is controlled by designated group members without the need for financial intermediaries (the "Service").

These Terms govern your use of COOWN and apply to all Users. By clicking "I AGREE" or otherwise using the Service, you indicate your acceptance of these Terms. If you do not agree to these Terms, you may not use the Service.

We reserve the right to update these Terms at any time. Significant changes will be communicated through the Platform, and your continued use of the Service implies acceptance of the revised Terms.

2. Definitions

  • Blockchain: Refers to distributed ledger technology (DLT) such as Dfinity's Internet Computer Protocol (ICP).
  • COOWN: Refers to the platform providing the Service.
  • Account: Your user profile on COOWN.
  • Consortium: COOWN's partner entities that support and maintain the Platform.
  • Sandbox Operator: The entity managing initial customer onboarding.
  • Foundation: The entity overseeing COOWN's infrastructure and technology.
  • KYC/AML: "Know Your Customer" and "Anti-Money Laundering" processes used to verify user identity and source of funds.
  • Group Wallet: A multi-signature, non-custodial wallet compatible with ICP.
  • Service: The solutions and software interface provided by COOWN.

3. Account Creation, Acceptance of Terms, and Risk Acknowledgment

To access all COOWN features, users must complete KYC verification, set up an Internet Computer Identity (IC Identity), and connect it to their COOWN account. Accurate and complete information is required for account validation.

Using non-custodial blockchain technology involves inherent risks. By using COOWN, you accept and understand the potential technological risks, including smart contract errors and potential network disruptions that may impact access and costs.

4. Jurisdictional Restrictions

Due to regulatory provisions, residents, citizens, and companies from certain countries may face access restrictions. US citizenship implies US tax residency worldwide. This list of restricted countries is implemented on the frontend of the application. Residents of affected countries may join a waitlist. COOWN consortium partners may apply their own restrictions; therefore, the availability of services primarily depends on the residency of the users.

5. Account and Group Wallet Security

This is a self-custody wallet application. COOWN relies on the Internet Computer (IC) protocol to facilitate decentralized identity and asset management. You are solely responsible for securing access to your credentials, including maintaining your IC identity, pass keys, associated email accounts, or phone numbers. Because COOWN operates as a non-custodial interface on the IC, COOWN entities cannot move any funds in the wallets, access private keys, or reverse transactions. Users are encouraged to share access to group wallets with trusted individuals to enhance resilience, as COOWN has no technical means to recover accounts or assets.

6. Responsibilities

6.1 User Responsibilities

You agree not to: - Violate applicable laws through the use of COOWN. - Use COOWN for unlicensed commercial solicitation, spam, or fraud. - Engage in harassment, intimidation, or threats. - Distribute misleading information or engage in unauthorized data collection. - Attempt to interfere with system integrity or security.

Key Management Responsibility: You are solely responsible for securing your private keys and pass keys to access personal and group wallets. COOWN and its partners are not liable for lost access or funds due to mismanagement.

6.2 COOWN Operator's Responsibilities

COOWN operators provide customer support, ensure regulatory compliance, and issue licenses to user groups. The operator reserves the right, in its sole and absolute discretion, to limit, suspend, or terminate access to the application at any time, for any reason or no reason, without notice and without liability. As the service is non-custodial, the operator assumes no responsibility for any loss resulting from the user's management of their assets or the operator's decision to cease service.

6.3 COOWN Foundation's Responsibilities

COOWN's foundation provides the Software as a Service (SaaS) platform, including research, development, and compliance tooling. The foundation provides this platform on an "as-is" and "as-available" basis and reserves the right to modify, restrict, or discontinue the service at its sole convenience. The foundation never takes possession of customer funds and shall not be held responsible for any damages or perceived lack of access to assets arising from the discontinuation of the service.

7. Data Retention Policy

COOWN retains regular business data for three (3) years and crypto asset data for ten (10) years from the date of creation. As COOWN relies on the Internet Computer (IC) blockchain for ledger operations, certain data availability is subject to the technical constraints and persistence of the IC protocol. While COOWN facilitates access to this data, it cannot guarantee data integrity or availability beyond its control or after the specified retention periods have expired.

User Responsibility for Data Backup: You are responsible for securely backing up important data, such as transaction records and account details, independent of the COOWN interface.

8. Term and Termination

8.1 Termination by User — You may delete your COOWN Account at any time.

8.2 Suspension or Termination by COOWN — COOWN operators and the foundation may, at their sole discretion and without prior notice or liability, suspend or terminate access to the platform for any reason whatsoever or for no reason at all. Because the service is non-custodial, the termination of access does not constitute a freeze of funds; users remain responsible for using their pass keys to access their funds via alternative tools.

9. Intellectual Property Rights

The Platform and its components (including trademarks, designs, images, animations, and texts) are protected by intellectual property rights. Users are granted a limited, non-exclusive, non-transferable license to use available downloadable content solely for accessing the Service.

10. Governing Law and Jurisdiction

These Terms are governed by Costa Rican law, with disputes subject to the jurisdiction of Zurich, Switzerland. Parties agree to first attempt amicable resolution before initiating any legal proceedings.

Contact Information

Sandbox Operator: COOWN INIT S.R.L. Los Yoses, Calle 39. Avenidas, 8 & 10, San José, San Pedro, 11501, Costa Rica Email: info@coown.box