Terms and Conditions

These Terms govern access to and use of the services provided by COLOCA GROUP S.A.S. (hereinafter, "Coloca"), a commercial company legally incorporated under the laws of the Republic of Colombia, identified with NIT (tax ID) 901.820.031-5, with its principal domicile in Envigado, Antioquia.

By accepting these Terms, the User declares that they have read, understood, and fully accepted their content, thereby constituting a legally binding agreement with Coloca.

Important: Coloca reserves the right to modify these Terms at any time. Updates will be notified through the Authorized Channels or by publication on colocapayments.com. If you do not agree with the changes, you may request termination by sending an email to legal@colocapayments.com.

• Coloca: COLOCA GROUP S.A.S., the provider of the Services.
• User: Natural or legal person who uses the Services.
• Services: Set of features for Payments, Collections, currency conversion, settlement of virtual assets, and related operations.
• Instructions: Specific orders issued by the User through the Authorized Channels.
• Authorized Channels: Official means (WhatsApp, email, partner platforms) notified by Coloca.
• Virtual Assets: Digital representations of value that can be transferred electronically, excluding legal tender and regulated securities.
• KYC/KYB: Know Your Customer and Know Your Business procedures.
• Mandate: Relationship under which Coloca acts on behalf of the User without taking custody of funds.

Operating model

Coloca provides its Services under a Mandate model, acting exclusively as a technological facilitator to execute Payments and Collections in compliance with specific Instructions.

Fundamental declarations

• The Services do NOT constitute financial intermediation and are NOT subject to supervision by the Superintendencia Financiera de Colombia (Colombian Financial Superintendency).
• Funds are NOT bank deposits and do not enjoy any state guarantees.
• Coloca does NOT hold custody of or manage funds. Resources are used solely as a means to execute Instructions.
• Coloca complies with Anti-Money Laundering regulations (LA/FT/FPADM) by applying KYC/KYB.
• Coloca does NOT provide financial, legal, or investment advice.

Identity verification (KYC/KYB)

Coloca reserves the right to carry out verification procedures both at the first Instruction and periodically, including screening against OFAC, UN, and EU lists, identity confirmation, and requests for additional documentation.

Grounds for rejection or suspension

• Misuse of Authorized Channels
• Compromise of technological security
• Errors in the information provided
• Discrepancies in the exchange rate
• False, incomplete, or outdated information
• User identified on restrictive lists
• Operational, regulatory, or security risks

THE USER IS SOLELY AND EXCLUSIVELY RESPONSIBLE for the accuracy, truthfulness, and completeness of the information in the Instructions, including:

• Bank account details (number, type, institution, account holder)
• Amounts and currencies of the operations
• References, concepts, and descriptions
• Identification of beneficiaries
• Digital wallet addresses

Irrevocability

Once an Instruction is confirmed, it is deemed irrevocable. Coloca will proceed with its execution in accordance with the data provided. Executed operations do not give rise to any obligation to reverse them except as established in these Terms.

Prior verification

Before confirming, the User must verify all data, confirm the accuracy of the beneficiary, validate amounts and currencies, and ensure that the operation matches their intentions.

Coloca will charge fees for the provision of the Services, disclosed to the User before the execution of each Instruction. These may include:

• Charges for the execution of Payments and Collections
• Costs of conversion between currencies and virtual assets
• Operating expenses of Allied Third Parties
• Fees for cancellation or reversal (when possible)

The User authorizes Coloca to automatically deduct the fees from the funds intended for the execution of the Instructions.

The User acknowledges that transactions involving Virtual Assets are subject to volatility, delays in confirmations, technological and regulatory risks, and the absence of state backing.

Irreversibility: Transactions involving Virtual Assets are irreversible. The User is solely responsible for verifying the accuracy of the information before submitting an Instruction.

Lawful origin: The User declares that the funds have a lawful origin and comply with LA/FT/FPADM regulations.

Coloca complies with national and international regulations on the Prevention of Money Laundering, Terrorism Financing, and Financing of the Proliferation of Weapons of Mass Destruction (LA/FT/FPADM).

Coloca may reject, block, or suspend any suspicious operation, terminate the contractual relationship, and report to the authorities, without prior notice to the User.

The following are prohibited: transactions for unlawful purposes, allowing third parties to manage the account, assignment without authorization, and using the Services for LA/FT, fraud, or any unlawful act.

Coloca may reject Instructions related to weapons, illegal substances, child pornography, pyramid schemes, unregulated gambling, unauthorized medicines, and other restricted activities.

These Terms are governed by the laws of the Republic of Colombia. Disputes shall be resolved in the first instance through direct negotiation within 30 days.

If no agreement is reached, the parties may opt for conciliation or arbitration. Failing that, they shall submit to the ordinary jurisdiction of Medellín, Antioquia.

• These Terms constitute the entire agreement between Coloca and the User.
• The invalidity of one clause does not affect the validity of the others.
• These Terms prevail over any additional communications.
• Failure to enforce a right does not imply a waiver of it.
• In the event of translations, the Spanish version shall prevail.
• Notices to legal@colocapayments.com.

By accepting, the User warrants that they have read these Terms in full, understood their scope, accepted their provisions, and have the legal capacity to contract.