Terms & Conditions (Premium Global Credit Card for COP credit)

REVOLVING CONSUMER LOAN AGREEMENT IN COLOMBIAN PESOS INSTRUMENTALIZED THROUGH A CREDIT CARD

This Revolving Consumer Loan Agreement in Colombian pesos, entered into between DAPP Colombia S.A.S., a simplified stock corporation identified under Tax ID (NIT) 901644165 and domiciled at Cl 104 # 18A 52, Bogotá, Colombia ("DAPP" or "ARQ" or the "Company") and the user (the "User"), governs the issuance and use of the virtual and/or physical Credit Card (the "Credit Card"), as well as the related services made available through the Platform (as defined below) (the "Agreement").

The parties acknowledge that this legal transaction is based on a loan of money in Colombian pesos (COP) funded exclusively from DAPP's own resources, and does not constitute a financial intermediation activity or mass and habitual deposit-taking from the public. By accepting this Agreement via Electronic Signature, the User expressly acknowledges having read, understood, and agreed to be bound by all its terms and conditions, including the acknowledgment that this Agreement only provides for the charging of remunerative interest and not default interest, as set forth in this instrument.

1. DEFINITIONS

  1. Mobile Application: the mobile application used by the Company through which the User requests, administers, manages, and makes payment of the Credit Card.

  2. Recurring Charges: periodic payments or subscriptions the User authorizes to be charged to the Credit Card.

  3. Fees: the charges applicable to the Credit Card.

  4. Collateral Coverage: the requirement to maintain the value of the Collateral at a sufficient level, as disclosed to the User in the Mobile Application at the time of acquiring the Credit Card, to back payment of the Credit Line.

  5. Wealth Account: the User's eligible assets held through a U.S.-regulated brokerage intermediary, subject to eligibility criteria, which may be used as Collateral. The User acknowledges that the relationship with such third parties is governed by independent terms and conditions.

  6. Account Statement: the monthly summary of the User's activity (purchases, payments, fees, interest, and balances) carried out with the Credit Card in Colombian pesos, available in the Mobile Application.

  7. Cut-off Date: the monthly date on which the Credit Card billing cycle closes and the Account Statement is sent.

  8. Payment Due Date: the deadline by which the User must pay the outstanding balance on the Credit Card.

  9. Electronic Signature: as provided under Law 527 of 1999, regulated by Decree 2364 of 2012, regarding the validity and implementation of electronic signatures. All of the foregoing in accordance with Section 7.4 of this Agreement.

  10. Collateral: the assets the User has available in the Mobile Application that back payment of their Credit Line. Collateral may be subject to automatic offset in the event of User default.

  11. Default: a serious event, such as failure to pay on the Credit Line, fees arising from the Credit Line, or other material breaches of the Agreement and the Credit Card terms of use.

  12. Remunerative Interest: the interest accrued on the outstanding balance, in accordance with the rate specified in this Agreement. This Agreement does not provide for the charging of default interest; accordingly, failure to fully pay the balance will allow Remunerative Interest to continue accruing daily on the outstanding balance until effective payment.

  13. Credit Line / Credit Limit: the maximum amount in Colombian pesos the User may draw upon or use at any time through their Credit Card.

  14. Minimum Payment: the minimum amount in Colombian pesos the User must pay by the Payment Due Date to keep their Credit Line current and avoid service suspension or execution of backing assets. Since this Agreement does not provide for default interest charges, failure to fully pay the balance will allow Remunerative Interest to continue accruing daily on the outstanding balance until effective payment of the amounts owed.

  15. Platform: the digital application containing information about the Company's services.

  16. Claim/Clarification: the request the User submits when they do not recognize a charge or wish to dispute a transaction, per the procedure available in the app.

  17. Company: DAPP Colombia S.A.S., a commercial company that, funding solely from its own resources and without engaging in mass or habitual deposit-taking from the public, issues the Credit Card and grants the loan in Colombian pesos.

  18. Credit Card: the physical or virtual credit card through which the User draws on the Credit Line in Colombian pesos.

  19. Physical Card: the plastic or metal card sent to the User's address, usable at merchants and ATMs.

  20. Virtual Card: the digital card available within the app for online purchases.

  21. User: the natural person who requests, contracts, and uses the Credit Card.

  22. Wallet: services that allow payments via the User's phone by linking their card.

2. PURPOSE

Through this Agreement, the Company grants the User a revolving Credit Line in Colombian pesos. The User may draw on that limit exclusively through use of the Credit Card (physical or virtual), subject to the terms, credit limits, and collateral conditions set forth in this document.

First paragraph: The User acknowledges and accepts that DAPP is a private commercial company that does not hold the status of a credit institution and is not subject to inspection, control, and oversight by the Financial Superintendence of Colombia. Accordingly, the Company does not engage in mass and habitual deposit-taking from the public.

Second paragraph: This Agreement is governed exclusively by the rules of Colombian private law applicable to loan agreements.

3. CREDIT CONDITIONS

3.1 Credit Line Amount or Limit

Users interested in obtaining the Colombian peso Credit Line offered by the Company may check the approved Credit Line amount through the Mobile Application, under the Credit tab. This value is calculated by the Company based on the User's Collateral assets in the Mobile Application.

The approved Credit Line amount will be denominated and accounted for exclusively in Colombian pesos and will be available for review in the Mobile Application. The User acknowledges and accepts that the available Credit Line is dynamic and is determined automatically based on the market value of the assets pledged as backing.

This value may be modified unilaterally by ARQ at any time, depending on objective factors related to the User that may affect their ability to pay the Credit Line.

3.2 Payment Date

The User must pay, at minimum, the amount equal to the Minimum Payment before the Payment Due Date to keep their Credit Line current and avoid closure of the Credit Line or execution of the Collateral.

The Payment Due Date will be twenty (20) calendar days from the Cut-off Date. If that date falls on a non-business day, the deadline will be extended to the next business day. The User accepts that it is their responsibility to check the Account Statement in the Mobile Application; nevertheless, the Company will send electronic reminders before the due date. If the User pays the full balance for the relevant period within the period between the Cut-off Date and the Payment Due Date (the "Payment Term"), no remunerative interest will accrue on that balance. If the User does not pay the full balance for the relevant period within the Payment Term, remunerative interest will accrue on the outstanding balance corresponding to that period, calculated day by day from the Cut-off Date until the date of effective payment — including the days comprised within the Payment Term. Accordingly, failure to pay the full balance within the Payment Term will result in remunerative interest accruing over the entire number of days elapsed since the Cut-off Date, and not only from the expiration of the Payment Term.

Paragraph 1: Failure to receive reminders or the Account Statement does not exempt the User from their payment obligation, since that information is permanently available in the Mobile Application.

Paragraph 2: All details regarding what the User must pay and how remunerative interest is calculated are always available in the monthly Account Statement and in the Mobile Application.

3.3 Minimum Payment

Each month, the Company will calculate, based on the balance owed in Colombian pesos as of the User's Cut-off Date, the Minimum Payment the User must pay to keep their Credit Line current. The Minimum Payment will be 1.50% of the principal balance owed as of the Cut-off Date. This amount may be disclosed in the Mobile Application, under the credit tab, and in the Account Statements.

The Minimum Payment amount will be disclosed to the User through the Platform and the Account Statement corresponding to each period. The User may make payments in any amount between the Minimum Payment and the full Account Statement balance.

Any Account Statement balance not covered by the User by the Payment Due Date will be subject to remunerative interest in accordance with the interest rate set forth in Clause 3.7.1 of this Agreement.

The Company reserves the right to suspend, limit, or cancel the Credit Line if the User repeatedly fails to pay the Minimum Payment or any other payment, in accordance with criteria the Company determines at its sole discretion and without need for prior notice.

3.4 Early Payment

The User may, at any time, make an early payment, partial or full, of the outstanding Credit Line balance. Any early payment will be applied exclusively to the outstanding principal balance, provided the User is current on payment of:

  1. Taxes, if applicable;

  2. Any fees owed, if applicable;

  3. Accrued remunerative interest; and

  4. Principal balance owed in Colombian pesos.

  5. Taking the foregoing into account, the User agrees to the payment priority order described above.

Paragraph 1: If the User makes a payment greater than the period's Minimum Payment, the excess will be automatically applied toward principal, reducing the outstanding balance. The User acknowledges that this does not exempt them from the obligation to cover the following cycle's Minimum Payment, if a balance remains outstanding.

3.5 Payment Methods

The User may pay the Credit Line balance in Colombian pesos through any of the mechanisms enabled in the Mobile Application for that purpose. These options will be located under the "Credit" tab in the Mobile Application.

The User may make Credit Card payments through the following methods:

By transfer via PSE of Colombian pesos (COP) to the account disclosed by the Company. Payments will be reflected once the transfer is received and successfully applied by the Company, subject to the issuing bank's processing times and the Company's reconciliation and payment processing procedures;

By selling eligible Digital Assets held in the User's ARQ Wallet (including, without limitation, USDC and/or EURC) at the day's COP conversion rate, applying the resulting amount to the outstanding balance owed. Such payments will be credited once the sale transaction is executed and the funds are available and correctly applied to the User's account; and/or

Through other payment methods available on the Platform.

3.6 Full Payment

The User may pay off their Credit Line in full at any time through the Mobile Application. For this purpose, the User may check in the Mobile Application the total outstanding balance due, which will include:

1. The total outstanding amount in Colombian pesos.

2. Remunerative interest accrued proportionally up to the exact day of payment.

3. Accrued fees and fixed charges, if applicable.

First paragraph: Once full payment has been processed and the obligation balance is verified to be zero ($0.00 COP), the Company will keep the Credit Line active and available for future draws, unless the User expressly requests termination of the Agreement and permanent closure of the credit limit through the Mobile Application's support channels.

3.7 Interest

3.7.1 Remunerative Interest

When the User carries out transactions with the Credit Card that are not repaid in full before the Payment Due Date, remunerative interest will accrue on the outstanding balance in Colombian pesos.

The loan will generate a variable remunerative interest rate, which will be settled monthly on the outstanding balance in Colombian pesos at the close of each cycle. The applicable remunerative interest rate will be the rate published by the Company on the Platform and in the Mobile Application, in the sections designated for that purpose, prior to entering into this Agreement and throughout its term. The User may check the applicable rate through those channels at any time. However, in no case may the rate applied exceed the Usury Rate certified by the Financial Superintendence of Colombia for the corresponding period; if, by legal mandate, such Usury Rate is lower than the published rate, the Company will automatically adjust the rate to the maximum legally permitted.

The User acknowledges and accepts that:

The remunerative rate will apply to all outstanding balances corresponding to the principal owed as of the monthly cut-off.

If the User pays the full amount drawn before the Payment Due Date of the corresponding billing cycle, that transaction will not generate remunerative interest.

In the absence of default interest, remunerative interest will continue to be settled monthly on the outstanding principal until full payment is confirmed or the Collateral is liquidated.

Paragraph: Remunerative interest will be reflected in each period's Account Statement. The applicable interest rate will be variable from month to month during the term of the credit. This Agreement does not provide for the charging of default interest under any circumstances.

3.8 Rates and Fees

The User unconditionally agrees to pay the fees, Platform expenses, taxes, and contributions applicable to use of their Credit Card, which will be automatically generated according to use of the product. Specific items, amounts, frequency, and triggering events for each charge are detailed for review in the Mobile Application and the Platform.

The Company will apply these charges against the Credit Line or by directly deducting them from the User's balance, as set forth in this Agreement, without requiring prior notice or additional request.

First paragraph: The User acknowledges that fees correspond to consideration for access to the Company's technological infrastructure, management of the payment network, and administration of the credit subject to the loan.

Second paragraph: Should the Company decide to modify the fee structure or the general terms of the Credit Card, the User will be notified via the Mobile Application. Continued use of the Credit Card following such notice will constitute express acceptance of the new fees.

3.9 Cash Withdrawals

The User may make cash withdrawals at local or international ATMs that accept the Credit Card network. These transactions will be governed by the following conditions:

1. The User acknowledges that, when making a cash withdrawal, the conversion rate (when applicable abroad) will be that set by the card network and the Platform at the exact moment of the transaction.

2. The Company may set daily, monthly, or per-transaction limits for cash withdrawals, which may be lower than the total Credit Line limit for security and risk management reasons.

3. Each cash withdrawal transaction will generate a fee equal to 3% of the amount withdrawn at the ATM.

First paragraph: The User is solely responsible for verifying costs associated with using third-party ATMs. The Company is not responsible for technical failures of ATM devices nor for the withdrawal policies of the financial institutions that own such equipment.

3.10 Payment Reversals

Pursuant to Article 51 of Law 1480 of 2011, the User has the right to request the reversal of payments made via the Credit Card in e-commerce transactions (non-face-to-face purchases), provided one of the grounds set forth in that law applies.

1. Reversal Amount: If the reversal is approved, the Company will credit the User's Credit Line limit with the exact amount, in Colombian pesos, originally debited in the disputed transaction.

2. Procedure: For a reversal to proceed, the User must file a claim with the Company and with the merchant within five (5) business days of becoming aware of the grounds. The Company, as issuer of the instrument, will process the request with the payment network.

3. Reinstatement of the Charge: If the reversal is rejected by the merchant, or bad faith by the User is demonstrated, the charge will be reinstated on their Credit Line along with remunerative interest accrued since the date of the original transaction.

Paragraph: The User accepts that the Company is not the provider of the goods or services purchased and that an effective reversal depends on the merchant's response and the processing times of payment networks.

4. COLLATERAL

4.1 Collateral in Virtual Assets (Digital Assets)

If the User holds Digital Assets on the Platform, these may serve as backing for payment of the Credit Line in Colombian pesos.

The User grants prior, express, and irrevocable authorization to the Company to:

1. Upon any Default event, automatically offset amounts owed under the Credit Line against the Digital Assets the User holds on the Platform. This offset will operate as a matter of law, without requiring prior judicial or extrajudicial demand.

2. The User grants an irrevocable mandate to the Company so that, in the event of default or insufficient Collateral coverage per the Application's risk parameters, it may immediately sell or liquidate the backing assets at market price. Proceeds from such liquidation will be applied to extinguish principal, remunerative interest, and fees owed.

3. The Company may technologically restrict the disposal, transfer, or withdrawal of assets serving as backing while an outstanding balance exists or when the value of the assets falls below the safety threshold defined in the Application.

First paragraph: The User acknowledges and accepts that the Digital Assets serving as backing may be located on infrastructure outside the Republic of Colombia. Accordingly, execution of this Collateral is governed by the parties' freedom of contract and the operating rules of the corresponding blockchain network.

4.2 Collateral in Wealth Account Assets

If the User holds eligible assets in their Wealth Account, these assets may be used as backing and as a source of offset for fulfilling the Credit Line in Colombian pesos. Accordingly, the User accepts, on a prior and informed basis, that:

The User grants an irrevocable mandate to the Company so that, upon any default event or when the coverage level is insufficient, the Company may designate, substitute, and directly instruct international custodians and third parties regarding the administration, restriction, and execution of such assets. This mandate authorizes the Company to order the immediate sale or liquidation of Wealth Account assets and apply the proceeds to offset amounts owed in principal, remunerative interest, and fees.

The Company may instruct the custodian to restrict access, transfer, or withdrawal of Wealth Account assets in order to maintain the required coverage relative to the granted limit. The User acknowledges that this restriction is an essential condition for maintaining the validity of the Credit Card.

The User authorizes the Company, in the event the value of Wealth Account assets depreciates in a way that jeopardizes the outstanding balance, to proceed with partial or total liquidation of such assets without prior request, in order to protect the Company's own asset delivered under the loan.

First paragraph: The User acknowledges that Wealth Account assets are held in custody by entities outside Colombia. Accordingly, execution of this backing will be carried out per contractual instructions sent by the Company to the custodian, based on the freedom of contract agreed in this contract, and will not require local judicial proceedings for its technological effectiveness.

Second paragraph: Any cost, brokerage commission, or administrative expense arising from liquidating Wealth Account assets outside Colombia will be borne entirely by the User and will be deducted from the sale proceeds before repayment of the principal owed.

Third paragraph: By accessing and using the Wealth Account, you acknowledge and confirm having entered into the Account Agreement with the corresponding brokerage intermediary, available at https://files.alpaca.markets/disclosures/library/AcctAppMarginAndCustAgmt.pdf (the "Broker Agreement"), which expressly authorizes the brokerage intermediary to grant, establish, and enforce rights over the assets held in that account as Collateral, a power over which the Company may in turn instruct and act in accordance with these terms.

4.3 Liquidation of Collateral

The User grants the Company (and any of its partners, custodians, banks, financial institutions, payment service providers, or other third parties acting on the Company's behalf), with full powers and authority to issue instructions and requests, an irrevocable mandate with representation to manage, directly or through third parties authorized by the Company, the Collateral tied to their Credit Line.

For all legal and contractual purposes, this mandate expressly authorizes ARQ to execute, sell, liquidate, or apply the Collateral, in whole or in part, in the order, timing, and manner ARQ determines at its sole discretion, in accordance with the scenarios set forth in this contract, and may proceed indistinctly first against the Digital Assets held on the Platform or against the assets held in the Wealth Account, as ARQ deems appropriate.

This authority allows the Company to access, hold, transfer, sell, or liquidate such assets, in whole or in part, in the following scenarios:

4.3.1 Grounds for Execution

ARQ may execute the Collateral upon Default by the User with respect to the following:

Covering balances: Paying any outstanding debt, fees, remunerative interest, or Credit Line charges owed.

Adjusting backing value: Correcting situations where the Collateral value is insufficient or has decreased due to market volatility or lack of liquidity.

Managing Default: Exercising its rights in case of default, suspension, or account closure for any reason.

Urgent recovery: Acting on operational or legal risks requiring immediate liquidation, with prior notice to the User.

4.3.2 Procedure and Notifications

ARQ has the authority to carry out these actions without requiring judicial demand or prior notice, always within the applicable legal framework. However, when operationally feasible, ARQ will make efforts to warn the User before liquidating assets due to declines in their value. ARQ will decide autonomously which assets to liquidate, when, and for what amount, without being obligated to follow a specific order of priority.

4.3.3 Scope of Liability

No waiver of rights: If ARQ decides not to immediately execute the Collateral, this does not imply a waiver of its right to do so later, nor a novation of the respective obligation. The User remains bound to fulfill all their payments at all times.

Remaining balances: If, after liquidating the Collateral, the amount obtained does not cover the full debt, the User will remain liable to pay ARQ the remaining balance.

Precedence: In the event of any conflict with other agreements, the rules in this section will prevail over any other provision relating to Collateral and ARQ's execution rights.

4.3.4 Restrictions on Collateral

While any portion of the User's assets are used as Collateral for the outstanding Credit Line balance, the Company may impose any restrictions it deems necessary or appropriate to preserve the value of the Collateral and maintain the required coverage, including without limitation: (a) limiting or preventing withdrawals, transfers, or disposals of assets from the Wealth Account and/or the User's ARQ Wallet; and/or (b) limiting or preventing the purchase, conversion, or exchange of certain assets, including transactions that reduce the value of the Collateral, increase portfolio volatility, or increase the risk of insufficient coverage; and/or (c) restricting, including through fiduciary assignment, the User's rights or assets where applicable law permits.

5. CREDIT CARD SPECIFICS

5.1 Activation/Application

Activation and application for the Credit Card will be carried out through the Platform when the User meets the following requirements:

Registration: The User must have an active account in the Mobile Application.

Accepting terms and electronic signature: The User must accept and digitally sign this Agreement via electronic signature to access the Credit Line.

Complete your profile: We will ask for some documents and information to assess your Credit Line.

Important: Approval of the Credit Card and the Credit Line will depend on the User meeting the Company's internal and security requirements.

5.2 Recurring Charges

The User may authorize certain payments to be automatically charged to their Credit Card. For this service to function correctly, the following rules apply:

Available credit limit: It is the User's responsibility to have sufficient balance in their Credit Line on the charge date. If the charge cannot be processed due to insufficient credit, the Company will not be liable for the suspension of services or any resulting harm to the User.

Cancellation of services: If the User cancels their Credit Card, associated Recurring Charges will stop automatically. In this case, the User must provide a new payment method to their providers to avoid service interruptions.

Relationship with providers: the Company acts solely as a payment method. It is therefore not responsible for: (1) Price variations charged by the provider; (2) The quality or delivery of goods and services; (3) The provider's decision to reject the payment or process it late.

Cancellation procedures: The User acknowledges that canceling a Recurring Charge must be managed directly with the third-party service provider; the Company has no authority to cancel third-party contracts.

Recommendation: For any issue with the product or service charged, the User should contact the relevant provider directly.

5.3 Application

Once the credit line is approved, the User will decide how to use their personal, non-transferable Credit Card. There are two independently functioning options:

5.3.1 Virtual Card (Immediate Use)

A personal, non-transferable digital card for secure online purchases or through the User's Wallet.

Activation: The User can generate it instantly, once approved, from the Mobile Application.

Use: Once issued, it will be ready for the User to make online or app purchases and can be saved to their respective wallet.

Security: The User has full control and authority to block or unblock it from the Mobile Application at any time.

5.3.2 Physical Card (In-Person Use)

A personal, non-transferable card for in-person purchases, online purchases, or ATM withdrawals.

Request: The User can request it at any time through the Mobile Application. There they will see the costs, if applicable, and the shipping status of the card before submitting the request.

Material: It may be made of plastic, metal, or any other material the Company defines.

Full Control: The card will be shipped inactive for security reasons. The User must confirm receipt and manually activate it through the Mobile Application following established authentication protocols. The User may also block the card whenever desired through the Mobile Application.

5.4 Blocking

The Company continuously monitors User account security. Based on an assessment of activity, the Company may temporarily or permanently block the Credit Card in the following cases:

5.4.1 For security and protection

Suspicious activity: If the Company detects irregular movements, unusual transactions, or possible fraud attempts.

Misuse of credentials: If the Company identifies improper use of the Credit Card or security factors.

Legal compliance: If the Company receives an order from a competent authority or to comply with anti-money laundering regulations.

5.4.2 Due to credit status

Non-payment: If Credit Line payments are not made on time or the User is in default on the Minimum Payment, blocking may occur immediately the day after the due date.

Exceeding the limit: If the User's purchases exceed the authorized Credit Line.

Breaches: If the User fails to comply with the obligations of this Agreement or of any other product with the Company.

5.4.3 For account management

Closure request: If the User requests termination of the Agreement with the Company.

Other justified causes: Any other security or breach reason set forth in this Agreement.

Paragraph: Whenever a block occurs, the User will be informed via the App or by email, following the procedures in this Agreement so they know the reasons and, if applicable, may request clarification.

5.5 Account Statements

5.5.1 Minimum content

a. Name of the Company, the entity granting the Credit Line;

b. Name of the User;

c. Cut-off period, including the cut-off date, the statement period, and the number of days it covers;

d. List of transactions, listing each movement including, at minimum, value in Colombian pesos, date, and description of the charge (including the merchant where it was made);

e. Fee detail, listing each fee, the reason for it, the date, and value in Colombian pesos;

f. Opening/closing balances of the Credit Line together with the applicable cut-off date;

g. Taxes, if applicable;

h. Minimum Payment;

i. Payment required to avoid generating interest, when applicable;

j. Breakdown/explanation of the amount due for the period, broken down into principal, interest, and any other charge, as applicable;

k. Notice of the Payment Due Date;

l. Simple annual remunerative interest rates (percentage), per month and as applied to outstanding balances;

m. Outstanding principal, payments received (including early payments when applicable), how each payment was applied, and charges made during the period with their description;

n. Disputed charges, if applicable; and

o. Explanation of the consequences of only making the minimum payment, including the estimated time to pay off the Credit Line debt.

5.5.2 Delivery

The User expressly authorizes the Company to make Credit Line Account Statements available through the Mobile Application. Account Statements may be sent to the User's registered email no later than the business day following the Cut-off Date.

If the User wishes to receive Account Statements in another format, they may contact the Company through the support center provided in the Mobile Application.

The User will have ten (10) calendar days from the date of sending to raise any disagreement or request clarification on recorded transactions. If this period elapses without objection, the User will be deemed to have accepted the contents of the statement, without prejudice to their legal right to request reversals for fraud or error.

6. OBLIGATIONS

6.1 User's Obligations

During the term of this Agreement, the User agrees, without limitation, to comply with the following obligations:

Provide the Company with any information requested, whether financial, operational, or tax-related, necessary to comply with regulations applicable to the Company and keep their profile up to date. The foregoing on the understanding that the information provided is truthful, complete, and verifiable;

Update their personal information when requested by the Company or when such information changes relative to what was provided when entering this Agreement;

Pay all applicable taxes, contributions, and tax charges under current tax regulations, where applicable; and

Duly comply with their payment obligations arising from their Credit Card, in accordance with this Agreement;

Keep their mobile device, access codes, biometric factors, and Credit Card data under strict confidentiality and custody. The User assumes the legal and financial consequences of sharing their credentials with third parties;

Timely pay the Minimum Payment or the total balance owed before the Payment Due Date, regardless of whether they received payment reminders; and

Ensure that the funds used to pay the Credit Line, as well as the assets pledged as Collateral, come from lawful activities and are not linked to money laundering or terrorist financing.

6.2 Company's Obligations

Keep the Credit Line available to the User through the Credit Card;

Comply with the provisions set forth in this Agreement;

Implement technical security measures to protect User information and process personal data in accordance with Law 1581 of 2012 and the Company's Privacy Policy; and

Comply with applicable regulations regarding the performance and purpose of this Agreement.

7. ADDITIONAL INFORMATION

7.1 Term

This Agreement will have a term of ten (10) years from the date of signature of the Agreement. This term will be automatically renewed unless either Party states otherwise.

Notwithstanding the foregoing, the User may terminate the Agreement at any time in accordance with the guidelines set forth herein.

7.2 Right of Withdrawal

If the User wishes to exercise the right of withdrawal, they may do so within five (5) business days following signature of this Agreement, by communicating with the Company through the support channel provided in the Mobile Application, stating their intent to exercise the right of withdrawal.

If any Credit Line draws were made, the User must repay the full amount of principal drawn within the same period. The Company will refund amounts charged as fees, if applicable, but the User will remain liable for remunerative interest accrued for the days the principal was used.

7.3 Personal Data Processing

The User grants prior, express, and informed consent to the Company to contact, consult, and report the User to Credit Bureaus in Colombia. This authorization allows the Company to check the User's credit bureau history (such as, but not limited to, Datacrédito or Cifin), in order to assess their risk profile and grant or manage their Credit Line. Likewise, the User authorizes the Company to report to such entities the status of their obligations, including payment compliance, outstanding balances, and generally any relevant data regarding performance of this contract. The User acknowledges that this information exchange is fundamental to maintaining the integrity of the financial system and allows them to build a credit history that will facilitate access to future products.

The User's data will be processed in accordance with Law 1581 of 2012 and the Company's personal data processing policy available on the Company's website. By signing this Agreement, the User confirms the consent and express authorization granted to the Company for processing their personal data.

7.4 Electronic Signature

To make things faster, this contract is signed electronically. In accordance with Law 527 of 1999, both the User and the Company accept that this signature has full legal validity.

7.5 Signing the Agreement

The electronic signature is created when:

The Company validates the user's identity using information registered in the Mobile Application.

The User formally accepts by clicking the "Accept" or "Sign" button within the Mobile Application.

7.6 Security and Evidence

The User's signature is generated through unique data linking only the User to this Agreement. Once signed, it cannot be modified.

The User accepts and acknowledges that app records (information logs) containing session data, time, date, device, among others, text messages, emails, and Company computer files are sufficient proof of the User's intent to enter into this Agreement.

The Company may use these records to clarify questions or demonstrate consent before authorities, whenever necessary.

7.7 Company's Liability

Although our cards have global support, the final decision to accept payment rests exclusively with each merchant. If a merchant decides not to accept the card, the Company bears no responsibility for that decision.

The Company only acts as a payment method provider and is therefore not liable for what the User purchases or its condition, quantity, or quality. If the User has an issue with the quality, quantity, or condition of purchased products or services, they must resolve it directly with the merchant where the purchase was made.

7.8 Theft or Loss of the Credit Card

If the User loses their Card, their phone, or believes a third party knows their passwords, they must report it immediately through the Mobile Application so the Company can block their payment methods and reject any attempted use. The User is responsible for the security of their data; therefore, if fraud occurs due to negligence in safeguarding their passwords or card, failure to notify us in time, or misuse of the account, the User must bear the resulting losses.

7.9 Contact

The User has the right to submit clarifications, complaints, or claims through the Mobile Application's help center. To start the process, they only need to provide their name, phone number, email, and a description of the issue.

7.10 Enforceability

The User expressly acknowledges that this Agreement, together with the monthly Account Statement issued by the Company showing the outstanding balance, constitutes an enforceable instrument (título ejecutivo) sufficient to support judicial enforcement of the obligation. This is because it contains a clear, express, and enforceable obligation to pay a liquidated sum of money, in accordance with Article 422 of the General Code of Procedure.

7.11 Compliance and Prevention of Illicit Activities

The User agrees to comply with all applicable Colombian laws on the prevention of money laundering and terrorist financing, guaranteeing that their funds come from lawful activities. Likewise, the User declares that they do not appear on national or international restrictive lists, such as, but not limited to, OFAC, UN, or similar lists. If the User is included on any such list, is linked to criminal activities, or if the Company identifies reasonable doubts about the origin of their assets or account use, the Company may terminate this Agreement immediately and without penalty. Such termination will be communicated via the Mobile Application and will take immediate effect upon sending the notice.

7.12 Amendments to the Agreement

This Agreement may be amended by the Company at any time. In the event of a material amendment, the Company will notify the User through the same contact method the User provided during onboarding to the Mobile Application.

The User may terminate this Agreement if they disagree with the Company's proposed amendments, within fifteen (15) calendar days following such notice, without incurring any charge, fee, and/or penalty.

7.13 Petitions, Complaints, and Claims

The User may submit petitions, complaints, or claims related to the provision of services, the status of their Credit Line, or the functioning of the Credit Card through the Help Center available in the Mobile Application or via the official support email.

Response Time: The Company will respond to PQRs within a maximum of fifteen (15) business days from the day following receipt.

Extension: In cases of high technical complexity or the need to request information from third parties (payment networks or banks), the Company may inform the User of the need for an extension before the initial deadline expires, indicating the estimated response date.

Tracking: Upon filing a PQR, the User will receive a case or ticket number to track the process directly from the Mobile Application.

8. GOVERNING LAW

This Agreement will be governed by and interpreted in accordance with the laws of the Republic of Colombia. For the interpretation and performance of the Agreement, the Company and the User agree that any controversy, dispute, claim, or discussion related to the Agreement will be submitted to the ordinary courts of Colombia.

9. DEFAULT

The User will be deemed in a state of Default on their contractual obligations, entitling the Company to suspend the service and proceed with proportional execution of backing assets, upon the occurrence of any of the following events:

Failure to pay at least the Minimum Payment by the Payment Due Date set forth in the Account Statement.

When the market value of the backing assets (Collateral) decreases to reach the liquidation level (Liquidation Level) disclosed in the Mobile Application, putting the integrity of the Company's resources at risk.

If any information, statement, or document provided by the User is determined to be false or incomplete, particularly regarding the source of funds.

If the User or their assets are linked to restrictive lists or investigations into illicit activities.

Paragraph: The occurrence of any of the above grounds will entitle the Company to immediately suspend use of the Credit Card and/or execute the offset and execution mandate over the Collateral up to the amount owed, including overdue principal, remunerative interest, and fees.

10. TERMINATION

10.1 By the Company

Upon breach by the User of any provision and/or obligation under this Agreement;

When the User provides false or inaccurate information to the Company;

When the User refuses to provide information about transactions or use of the Mobile Application and/or the Credit Card;

When the User acts against Company personnel or the ARQ brand;

When the Company suspects fraud related to the User's activities, transactions, documents, or information provided.

When the User engages or attempts to engage in any unlawful act or act contrary to public morals.

10.2 By the User

The User may request termination of this Agreement at any time from the Mobile Application. Once the Company confirms the User's identity, a reference number for the request will be issued.

What happens when cancellation of the Credit Line is requested?

Immediate block: From that moment, the User's cards and access methods tied to this Agreement will be cancelled. The User will not be able to make new purchases or charges from that point on.

Automatic payments: Recurring Charges or direct debits the User has scheduled through the Credit Line will be cancelled.

Outstanding balances: If the User has no pending charges, the Agreement will terminate the business day following the request. If the User has pending charges, installments, or scheduled payments, the Company will inform the User of the exact outstanding amount no later than the next business day for payment.

The contract will only terminate once the User has paid all outstanding charges or debts. In the meantime:

The User cannot make new charges, but interest will continue to accrue on the outstanding balance.

The Payment Due Date and current conditions will remain in effect until all charges or debts arising from the Credit Line are settled.

Final steps by the Company

If the User has a credit balance, it will first be returned to their balance in the Mobile Application and, if not possible, to the bank account indicated by the User.

The Company may report to credit bureaus that the credit line has been closed with no outstanding debt or balance.

In the event of the User's death, the Agreement will terminate automatically once the Company receives official notice of that fact. From the moment of death, the User's liability for card use ceases and no new charges will be attributed to them; however, the Company reserves the right to take all necessary legal action to recover amounts or charges improperly made by anyone using the primary card or its remaining balance after death.

10.3 Unilateral Termination

Either Party may terminate this contract unilaterally, without requiring a breach by the other party. In the case of unilateral termination by the User, the procedure in clause 10.2 above will be followed. In the case of unilateral termination by the Company, it must send written notice at least fifteen (15) business days in advance. If the Company exercises this right, the User will have until the next Cut-off Date to pay the total outstanding balances, after which the Credit Line will be permanently closed.

11. ASSIGNMENT

The User accepts, authorizes, and acknowledges the Company's authority to assign its contractual position and rights, in whole or in part, solely by notifying the User. Accordingly, no additional authorization from the User will be required for the Company to assign its contractual position under this Agreement.

However, should the User wish to assign their contractual position, they must obtain the Company's prior, express, written authorization.