Terms of Service

Last updated: December 8, 2024

Agreement to Terms

By accessing or using Pooled ("the Platform", "we", "us", or "our"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, you may not use our Platform.

These Terms constitute a legally binding agreement between you and Pooled. Please read them carefully.

Eligibility

To use Pooled, you must:

  • Be at least 18 years of age
  • Have the legal capacity to enter into binding contracts
  • Not be prohibited from using the Platform under applicable law
  • Provide accurate and complete registration information
  • Maintain a valid phone number for authentication

By using Pooled, you represent and warrant that you meet these eligibility requirements.

Account Registration and Security

To use certain features of the Platform, you must create an account:

  • You must provide a valid phone number for authentication
  • You are responsible for maintaining the security of your account
  • You must notify us immediately of any unauthorized access
  • You may not share your account credentials with others
  • One account per person; you may not create multiple accounts
  • We reserve the right to suspend or terminate accounts that violate these Terms

Pool Creation and Management

Creating Pools

When creating a pool, you agree to:

  • Provide accurate and truthful information about the pool's purpose
  • Set a reasonable funding goal and deadline
  • Not use pools for illegal, fraudulent, or deceptive purposes
  • Not create pools that violate intellectual property rights
  • Use collected funds only for the stated purpose
  • Comply with all applicable laws and regulations

Pool Creator Responsibilities

As a pool creator, you are responsible for:

  • Managing the pool and keeping contributors informed
  • Using funds only for the stated purpose
  • Providing updates on pool progress and fund usage
  • Complying with tax reporting and other legal obligations
  • Resolving disputes with contributors

Prohibited Pool Types

You may not create pools for:

  • Illegal activities or purposes
  • Gambling, lotteries, or games of chance
  • Financial investments or securities offerings
  • Multi-level marketing or pyramid schemes
  • Hate speech, discrimination, or harmful content
  • Weapons, drugs, or other prohibited items
  • Political campaigns (unless properly registered)

Contributions and Payments

Making Contributions

When contributing to a pool:

  • All contributions are final and non-refundable (except as specified below)
  • You must use a valid payment method
  • You authorize us to charge your payment method for the contribution amount
  • Your contribution is visible to other pool participants
  • You may not dispute or chargeback contributions except in cases of unauthorized use

Payment Processing

We use third-party payment processors to handle transactions. By making a contribution:

  • You agree to the payment processor's terms and conditions
  • We are not responsible for payment processor errors or delays
  • Payment processing fees may apply
  • Transactions are subject to fraud detection and prevention measures

Refunds and Overfunding

Automatic Refunds

Refunds are processed automatically in the following situations:

  • Overfunding: If a pool exceeds its funding goal, excess contributions are automatically refunded proportionally to all contributors
  • Deadline Not Met: If a pool does not reach its funding goal by the deadline, all contributions are refunded in full
  • Pool Cancellation: If a pool creator cancels the pool, all contributions are refunded

Refund Processing

Refunds are processed as follows:

  • Refunds are processed to the original payment method
  • Processing may take 5-10 business days depending on your financial institution
  • We are not responsible for delays caused by payment processors or banks
  • Refund amounts are calculated automatically based on contribution proportions

Disputes and Chargebacks

If you have a dispute about a contribution:

  • Contact us first before initiating a chargeback
  • Unauthorized chargebacks may result in account suspension
  • We reserve the right to dispute invalid chargebacks
  • Excessive chargebacks may result in permanent account termination

Fees

Pooled charges the following fees:

  • Platform Fee: A percentage of each successful pool (details provided at pool creation)
  • Payment Processing Fees: Charged by our payment processor (typically 2.9% + $0.30 per transaction)
  • Withdrawal Fees: May apply when transferring funds to your bank account

All fees are clearly disclosed before you complete a transaction. We reserve the right to change our fee structure with 30 days notice.

Taxes

You are responsible for all taxes associated with your use of Pooled:

  • Income taxes on funds received as a pool creator
  • Gift taxes, if applicable
  • Sales taxes, if applicable
  • Any other applicable taxes or fees

We may provide tax documentation (such as 1099 forms) as required by law. Consult with a tax professional regarding your specific tax obligations.

Intellectual Property

The Platform and its content are protected by copyright, trademark, and other intellectual property laws:

  • All Platform content, design, and functionality are owned by Pooled
  • You may not copy, modify, or distribute Platform content without permission
  • User-generated content (pool descriptions, images) remains your property
  • You grant us a license to use your content to operate the Platform
  • You represent that your content does not violate others' intellectual property rights

Prohibited Conduct

You agree not to:

  • Violate any laws or regulations
  • Engage in fraudulent, deceptive, or misleading activities
  • Harass, threaten, or harm other users
  • Upload malicious code or viruses
  • Attempt to gain unauthorized access to the Platform
  • Scrape or collect user data without permission
  • Impersonate others or misrepresent your identity
  • Interfere with or disrupt the Platform's operation
  • Use automated tools or bots without permission
  • Circumvent security measures or access controls

Disclaimers and Limitations of Liability

Platform Provided "As Is"

THE PLATFORM IS PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND. WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

User Responsibility

We are not responsible for:

  • How pool creators use collected funds
  • Disputes between pool creators and contributors
  • The accuracy or truthfulness of pool descriptions
  • Whether pool goals are achieved
  • User-generated content or conduct

Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, POOLED SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING LOST PROFITS, LOST DATA, OR BUSINESS INTERRUPTION.

OUR TOTAL LIABILITY SHALL NOT EXCEED THE AMOUNT YOU PAID TO POOLED IN THE 12 MONTHS PRECEDING THE CLAIM.

Indemnification

You agree to indemnify and hold harmless Pooled, its affiliates, and their respective officers, directors, employees, and agents from any claims, damages, losses, liabilities, and expenses (including legal fees) arising from:

  • Your use of the Platform
  • Your violation of these Terms
  • Your violation of any laws or third-party rights
  • Your content or conduct on the Platform

Termination

We may suspend or terminate your account at any time for:

  • Violation of these Terms
  • Fraudulent or illegal activity
  • Failure to pay fees
  • Excessive chargebacks or disputes
  • Any reason, with or without notice

You may terminate your account at any time by contacting us. Upon termination, you must withdraw any remaining funds within 30 days.

Dispute Resolution

Informal Resolution

Before initiating formal proceedings, you agree to contact us to attempt to resolve any dispute informally.

Arbitration Agreement

Any dispute arising from these Terms or your use of the Platform shall be resolved through binding arbitration rather than in court, except where prohibited by law.

Class Action Waiver

You agree that disputes must be brought individually and not as part of a class action, collective action, or representative proceeding.

Changes to Terms

We may update these Terms from time to time. We will notify you of material changes by:

  • Posting the updated Terms on this page
  • Updating the "Last updated" date
  • Sending email notification (for significant changes)

Your continued use of the Platform after changes take effect constitutes acceptance of the updated Terms.

Governing Law

These Terms are governed by the laws of the State of Delaware, United States, without regard to its conflict of law provisions.

Contact Us

If you have questions about these Terms, please contact us:

By using Pooled, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.