Terms of Service

1. Purpose

These Terms and Conditions of Use (“Terms of Use”) set forth the terms and conditions for the use and operation of “CashFlow” through a mobile application and PC (collectively hereinafter, the “Application”) provided by OpusMonk Technologies. (“the Company”).

2. Definitions

The terms and definitions of these Terms of Use shall have the meaning specified as follows:

2.1 “User” refers to a person who signs an Agreement for Use and uses the Application.

2.2 “Agreement for Use” refers to a contract between the Company and a User pertaining to the use of the Application.

2.3 “Password” refers to a combination of letters and numbers set by a User to protect the User’s rights and privacy and is used to confirm the User’s identity by being matched with the User’s given account.

2.4 “Services” refer to all services provided by the Company via the Application.

3. Effect of and Changes to the Terms of Use

3.1 These Terms of Use shall take effect when the Company notifies a User of these Terms of Use by posting them on the Company’s Application or by using other methods (via text, e-mail, messenger, etc.) and the User indicates his or her consent. The membership registration is a procedure necessary to use special Services, and whether the user has registered as a member does not affect the validity of these Terms of Use.

3.2 The Company may modify these Terms of Use, if needed, to the extent that it does not violate relevant laws and regulations. In such case, the Company shall make an announcement in a manner prescribed in Article 3.1. or send individual notices to Users, regarding both the previous and modified versions of the Terms of Use, effective date, and reasons for the modification for a period starting seven (7) days before the effective date and ending one (1) day before the effective date. Provided, however, any change to a User’s significant rights or obligations shall be announced or notified to the User thirty (30) days before the effective date in a manner prescribed above.

3.3 A User shall be deemed to have accepted the modified Terms of Use in case the User does not expressly reject the modification within the above period, even after the Company has announced or notified the User of the modified Terms of Use in accordance with Article 3.2, stating that the User will be deemed to have accepted the modified Terms of Use without the User’s express rejection to the modification before the effective date of modification. A User who does not accept the modified Terms of Use may not be able to use the Services and the User may suspend use of Services and terminate the Agreement for Use within the above period.

4. Privacy Policy and Operation Policy

4.1 A User’s personal information shall be handled and protected in accordance with relevant laws and regulations and the Company’s privacy policy.

4.2 The Company may announce a separate operation policy if needed. In case such an operation policy overlaps with these Terms of Use, the operation policy shall prevail.

5. Acceptance of the Agreement for Use of the Services

5.1 The Agreement for Use of the Services shall constitute a legally binding contract when the person who wishes to become a User applies for use of the Application by indicating his or her consent to these Terms of Use, and the Company accepts the User’s application. The Company’s acceptance will be stated by the indication that the use of Services is possible.

5.2 The Company may reject an applicant’s application or cancel its acceptance for use in the following cases:
A. The applicant did not use his/her real name or used the name or other information of a third person;
B. The applicant is under the age of 14;
C. The applicant provided untruthful information for the application or failed to meet the application requirements;
D. The applicant tried to use the Services using an unauthorized or detour route in a country where the Company does not provide the Services;
E. The applicant tried to sign up for purposes prohibited under relevant laws and regulations or for other wrongful purposes such as purposes to undermine public order or social decency;
F. The applicant attempted to use the Services for profit;
G. The applicant is re-applying after being deprived of the acceptance to use Services, due to his or her violation of these Terms of Use.
H. There are other causes equivalent to any item in this paragraph that cause the Company to find it inappropriate to accept the User’s application.

5.3 The Company may suspend acceptance of a User’s application in any of the following cases until the causes are resolved.
A. The Company’s facilities do not have enough space, it is difficult to support a specific mobile device, or there is a technical obstacle;
B. A failure in Services or methods of payment for Services occurs;
C. There are other causes equivalent to any item in this paragraph that cause the Company to find it inappropriate to accept the applicant’s application.

6. Application for Membership Registration

6.1 Users can sign up for membership to use special Services provided through the Application. A person applying for membership applies for membership by providing all information requested during the registration process in the Application, and registration is complete when the Company indicates that the Company has completed the registration process.

6.2 The Company may reject or cancel the membership registration for causes specified in Article 5.2. of these Terms of Use and may suspend its acceptance for causes specified in 5.3. of these Terms of Use, until the cause is resolved.

6.3 A User who does not provide true and authentic information, i.e., by stealing another person’s information or entering fraudulent information, shall have no claims to any rights pertaining to the use of the Application and may be found punishable under relevant laws and regulations.

7. Obligations of the Company

7.1 The Company shall comply with the obligations set forth by relevant laws and regulations and these Terms of Use in good faith.

7.2 The Company shall make every effort to repair or restore, without delay, facility failures or data loss/damages that may occur while improving the Services in order to provide the Services in a more continuous and stable way, unless such inevitable situations as to force majeure events, emergencies or failures/defects occur for which there currently are no technological solutions available.

8. Obligations of a User

8.1 A User shall comply with these Terms of Use. A User shall NOT:
A. Use fraudulent information or information of other people while applying for or using, the Services or membership registration;
B. Use another User’s account without the Company’s consent;
C. Pay by illegal use of methods of payment, such as using another person’s credit card, phone, bank account, etc.
D. Change information posted by the Company or cause disruptions to the Services;
E. Collect, save, post, distribute or use in other ways another User’s personal information or account information without consent;
F. Copy, disassemble, imitate, or otherwise modify the Services through reverse engineering, decompiling, disassembling, or any other processing methods;
G. Give access rights to Services to a third party, i.e., lending or transferring his/her account to a third party;
H. Infringe on personal rights or intellectual property rights of the Company and/or a third party, including the right of portrait, right of name, publicity right, and copyright;
I. Damage the reputation of the Company and/or a third party or interfere with the business of the Company and/or a third party;
J. Impersonate employees or other related parties of the Company;
K. Post indecent information such as vulgar or violent messages, videos, audios, or other contents, or post information that may cause other Users to feel disgusted or anxiety, or post a link which connects to above-mentioned information on the Application;
L. Post the same or similar content or meaningless content repeatedly to flood message boards;
M. Use the Services for purposes other than as prescribed without the Company’s consent, such as for-profit, sales promotion, advertisement, publicity, political activities or election campaigns, etc.;
N. Duplicate, distribute, promote or commercially use any information obtained using Services without authority, use Services by exploiting known or unknown bugs;
O. Take advantage by deceiving others;
P. Give damages to others in relation to using Services;
Q. Any other act that violates relevant laws, or is against good customs or other social norms.

8.2 User is responsible for the management of his or her account and mobile device and should not allow others to use them. The Company is not responsible for any damages caused by poor management of the mobile device or giving consent to others to use the account or the mobile device.

8.3 User shall set and manage security functions such as payment passwords to prevent illegal payments in each open market. The Company is not responsible for any damages caused by the User’s negligence.

9. Provision of Service

9.1 The Services shall be available for use on a 24/7 basis with no holidays or breaks except for technical or operational reasons.

9.2 The Company may suspend the Services temporarily without prior announcement or notice in cases of:
A. Urgent system checks, expansions, replacements, breakdowns, or malfunctions;
B. National emergencies, power outages, natural disasters, or other force majeure events equivalent thereto;
C. Suspension of telecommunications services by facilities-based telecommunications business operator set forth under the Telecommunications Business Act; or
D. Service disruptions due to capacity overload, etc.

9.3 In case of a service suspension due to any of the items in the preceding provision, the Company shall make prior notice of such suspension on the Application. Provided, however, in cases of service suspensions due to causes beyond the Company’s control and thus which cannot be announced in advance, these shall be notified afterward.

10. Change to and Suspension of the Services

10.1 The Company may change the Services for operational and technical purposes to provide better Services. In case the Company modifies the Services in a way that results in the removal of part of the Services, the Company shall notify the User of such changes prior to the effective date of change on the Application.

10.2 The Company may suspend the whole of the Services under circumstances in which the Company is unable to continue providing the Services due to business discontinuation such as business transfer, split, merge; expiration of an agreement executed with a third party for providing Service; or critical management issues such as a dramatic drop in profit of Services. In such cases, the Company shall notify the User of the service suspension on the landing screen of the Application or a linked page, stating the date and reason for the suspension, thirty (30) days before the suspension date, and notify the Users in ways prescribed in Article 20.

11. Paid Service

11.1 A paid Service contract is established when the Company approves payment by displaying a message such as ‘payment completed’ or ‘subscription completed’ on the Application, after User clicks the button for applying for paid services such as ‘Payment’ or ‘Subscribe’ in Application, and then makes the payment according to the policy or method set by the provider of the payment method selected by User. The Company provides paid Service purchased by Users from the moment of payment unless otherwise specified.

11.2 In case of regular payment, the Company notifies on the Application that the payment is a regulation payment, and the regular payment will be proceeded on the same day on which the first payment was made through the payment method of User’s first payment (if a specific month does not contain such date, on the next day).

11.3 The period of use of the paid Service or content purchased by User shall be in accordance with the period specified at the time of purchase. However, if Service is suspended due to Article 10.2., the period of use of paid Service or content without a fixed period shall be until the date of discontinuation of Service announced in the notice for suspension of Service.

11.4 If the payment is made in foreign currency, the amount actually billed may differ from the displayed amount due to exchange rates and fees.

12. Cancellation of Order

User who has entered into a paid Service use agreement with the Company may withdraw their orders within a specific period as stipulated in the relevant laws and regulations. However, if the paid Service includes Service of which the order cannot be canceled as stated in the Act on Consumer Protection in Electronic Commerce, etc., the Company shall take the necessary procedures required by the relevant laws for limiting the right to cancel orders.

13. Refund of a Fee for Subscription Service

13.1 When User applies for a refund of a fee for subscription service, the Company deducts the multiplication of a daily fee and the number of days used (from the day of payment to the day of application for a refund) from the total fee paid by User and refunds the remaining amount.

13.2 If the subscription service for which User has concluded a contract is service to which a discount has been applied based on the contract period, the daily fee in Article 13.1 will be calculated without applying the discount. However, if the discount rate differs depending on the contract period, the short-term discount rate will be applied if User concluded a long-term content use contract and terminated the contract after the contract period for the short-term discount rate lapsed.

14. Restrictions on the Use of the Services

14.1 The Company may restrict a User from using the Services in cases where the User commits a breach of obligations in these Terms of Use or disrupts the smooth operation of the Services.

14.2 In case the Company restricts a User from using the Services in accordance with the preceding provision, the Company shall notify the User of:
A. The reason for the restriction;
B. Details of the restriction; and
C. The appeals procedure.

14.3 In case the User wishes to appeal the Company’s restriction decision, the User shall submit an appeal letter with the reason for an appeal to the Company via in-person delivery, e-mail, or other method equivalents thereto within fourteen (14) days from the day the User receives the Company’s notice of suspension.

14.4 The Company shall respond to the reason of the appeal in the appeal letter via in-person delivery, e-mail, messaging in the Application, or other method equivalent thereto within fourteen (14) days from the day the Company receives the appeal letter in the preceding provision. Provided, however, if the Company finds itself in a difficult situation to respond to the appeal letter within the aforementioned timeline, it shall notify the User of the reason for the delay and of an expected timeline.

14.5 In case the Company finds the reason of appeal valid, it shall take necessary measures accordingly.

15. Data Management

15.1 The Company shall be responsible for managing and operating data and content on the Application. Upon identifying or receiving reports of inappropriate data or content, the Company shall delete such data or content and notify the User who posted said data or content. Bad data in these Terms of Use refer to data or content that:
A. Insults another User or third party or damages the reputation thereof;
B. Distributes or provides links to content that undermines public order or social decency;
C. Promotes copyright infringement or hacking;
D. Constitutes for-profit advertisement;
E. Is objectively recognized as related to criminal activities;
F. Infringes on copyright or other rights of other Users or a third party; or
G. Involves other acts that are recognized to have violated these Terms of Use or relevant laws and regulations.

15.2 A User shall be responsible for the content, posts, photos, and other data that the User has posted on the Application (“User-Generated Data”). A User shall not post any data that violates these Terms of Use.

15.3 Should the Company find any User-Generated Data in breach of these Terms of Use or receives a request for action from public or national institutions, the Company may delete or transfer such User-Generated Data without the User’s prior consent in accordance with relevant laws and regulations.

15.4 In case the Company receives a request for suspension regarding any User-Generated Data from a third party raising rights infringement claims such as defamation or infringement of intellectual property rights, the Company may temporarily suspend posting (transmission) of such User-Generated Data in accordance with relevant laws and regulations. The Company shall comply with the decision of the court of law, arbitration, or other relevant institutions, which includes reposting the User-generated Data in accordance with relevant laws and regulations.

16. Copyright

16.1 The copyright and intellectual property rights pertaining to all content created by the Company shall belong to the Company.

16.2 A User shall not and shall not allow a third party to use information, whether as-is or altered, gained by using the Services provided by the Company for profit by copying, transmitting, editing, disclosing, displaying, distributing, broadcasting, or producing secondary works of such information.

16.3 A User shall defend, indemnify, and hold the Company harmless from and against any and all losses, claims, and damage arising out of the User’s breach of intellectual property rights such as copyright.

16.4 Should a User indicate the willingness to share his/her User-Generated Data on a social network, other websites, or applications, the Company may post such User-Generated Data thereon.

16.5 The Company shall use User-Generated data in a limited fashion in accordance with relevant laws and regulations such as displaying such data within the scope of the Services; utilizing such data for promotion of the Services; using such data for operation, improvement, and new service development; legal compliance; and displaying of such data on external websites with the User’s consent. In cases where the User has given separate consent, however, the Company may use such User-Generated Data accordingly.

17. Termination

17.1 In case a User wishes to discontinue using the Services, the User may terminate the Agreement for Use of the Services at any time by canceling his/her account. Once a User cancels his/her account, the User’s service use data retained in the Services shall be deleted and become unrestorable unless the privacy policy dictates otherwise.

17.2 The Company may at its discretion suspend a User’s use of the Services or terminate the Agreement for Use of the Services for material causes that deem this Agreement unmaintainable such as, without limitation, breach of these Terms of Use and violation of laws or regulations. In that case, User may not be re-registered for a year.

18. Indemnity

The Company and a User shall indemnify each other in case one party violates these Terms of Use causing damage or loss to the other party. Provided, however, neither party shall be liable for damage or loss that did not arise out of willful misconduct or gross negligence.

19. Limitation of Liability

19.1 The Company shall not be liable for the provision of the Services in cases where the Services cannot be provided due to natural disasters, power outages, disruptions of communications provided by other telecommunications service providers, or any other force majeure events equivalent thereto.

19.2 The Company shall not be liable for any damage caused by maintenance, replacement, regular inspections, or construction of facilities used for the Services, or any other causes equivalent thereto unless such damage is attributable to an intentional or grossly negligent act of the Company.

19.3 The Company shall not be liable for any disruptions in use of the Services caused by an intentional or grossly negligent act of a User unless the User has an inevitable or a legitimate reason.

19.4 The Company shall not be held responsible for the reliability or accuracy of information or content posted by a User in relation to the Services unless the Company has committed an intentional or grossly negligent act.

19.5 The Company has no obligations to involve itself in any transactions or disputes arising from or in relation to the Services between Users or between a User and a third party, and the Company shall not be liable for any damages arising from such transactions or disputes.

19.6 The Company shall not be liable for any damages incurred to a User in relation to the use of the Services provided for free unless such damage is attributable to an intentional or grossly negligent act of the Company.

19.7 The Company shall not be held responsible for a User’s failure to gain benefits or loss of such benefits that the User expected from using the Services.

19.8 The Company shall not be liable for any third-party payment attributable to a User’s improper management of a password for a mobile device, or a password provided by an open market provider, etc. unless such third-party payment is attributable to an intentional or negligent act of the Company.

19.9 The Company shall not be held responsible for disruptions in the use of the content, in its entirety or part, caused by a change of a mobile device, a mobile device number, or operating system; international roaming; or a change of a network provider by the User unless such disruptions are attributable to an intentional or negligent act of the Company.

19.10 The Company shall not be held responsible for any content or account information deleted by a User unless it is attributable to an intentional or negligent act of the Company.

19.11 The Application may display advertisements or services provided by a third party. When a User accesses a third-party advertisement or service, such service provided by the third party is not in the scope of the Services of the Company. The Company shall not be held responsible for reliability or security of such service, nor be liable for damages incurred to a User arising from the use of the third-party service, unless the incurrence of such damage is facilitated through an intentional or grossly negligent act of the Company, or the Company fails to provide a prevention measure for such damage.

19.12 The Company shall not be liable for damages incurred to a User arising from system disruptions that cannot be controlled by the Company, system disruptions caused by third-party attacks, or computer viruses for which a reputable domestic or international research institute or security firm has not developed a countermeasure, unless attributable to an intentional or grossly negligent act of the Company.

19.13 The Company does not guarantee an automatic registration for all of the SMS or Application notices that a User receives, the accuracy or completeness of the data.

20. Notice

20.1 The Company may notify a User by e-mail, electronic memo, in-app note, push alert, SMS/MMS, or SNS message.

20.2 For communication to all Users, the Company may substitute individual notification as stated in Article 20.1 by posting a notice or displaying a pop-up screen in the Application for seven (7) or more days.

21. Jurisdiction and Governing Law

These Terms of Use shall be governed by and construed in accordance with the laws of the Republic of Korea, without giving effect to any choice or conflict of law provision or rule. Any lawsuits related to disputes between the Company and a User shall be brought to a competent court under the Civil Procedure Act.

22. Complaint Resolution and Dispute Settlement

22.1 The Company shall display on the Application the procedures for making suggestions or filing a complaint for the convenience of Users.

22.2 Should the Company find the User’s suggestion or compliant valid, the Company shall resolve it in a reasonably swift manner, provided that the Company shall notify the User of the reasons for delayed resolution and expected timeline in the Services or in accordance with Article 20.1. in such cases where a longer period of time is required to resolve such complaint.

Addendum (May 20, 2022)

These Terms of Use shall be effective from May 20, 2022.