Terms of Service

1. Introduction & Acceptance

1.1 Agreement to Terms

Welcome to GiftPot! These Terms of Service ("Terms", "Agreement") constitute a legally binding agreement between you and GiftPot LLC ("GiftPot", "we", "us", or "our"), a Delaware limited liability company.

By accessing or using our platform at www.giftpot.app (the "Service"), you agree to be bound by these Terms. If you disagree with any part of these Terms, you must not use our Service.

1.2 Electronic Agreement & E-Sign Consent

By using GiftPot, you consent to receive all communications, agreements, notices, and disclosures electronically. You agree that all agreements, notices, and other communications provided electronically satisfy any legal requirement that such communications be in writing, in accordance with the Electronic Signatures in Global and National Commerce Act (E-SIGN Act), 15 U.S.C. § 7001 et seq.

You may withdraw your consent to receive electronic communications by contacting us at legal@giftpot.app. However, withdrawal of consent may result in termination of your access to the Service.

2. Important Notice Regarding Payment Services

2.1 What GiftPot Is

GiftPot LLC is a software platform that provides technology services to facilitate group gift collections. We operate the website, mobile applications, and related software that enables users to create gift pots, share them with contributors, and coordinate gift deliveries.

2.2 What GiftPot Is NOT

GiftPot LLC is NOT:

• ❌ A bank or financial institution
• ❌ A money transmitter or money services business
• ❌ A payment processor or payment services provider
• ❌ A custodian of user funds
• ❌ An issuer of stored value or payment instruments

2.3 Payment Processing by Stripe

2.4 How Fund Flow Works

When you contribute to a gift pot, the following occurs:

1. Payment Initiation: Your payment is submitted directly to Stripe through their secure payment interface embedded in our platform.
2. Fund Custody: Contributed funds are held in accounts controlled exclusively by Stripe, not GiftPot. GiftPot never takes possession, custody, or control of your funds at any point.
3. Disbursement: When the gift pot closes, Stripe transfers the funds directly to the recipient's designated bank account or processes gift card purchases.

3. Eligibility & Account Requirements

3.1 Age Requirements

You must be at least 18 years old to use GiftPot. By using our Service, you represent and warrant that you meet this age requirement.

3.2 Location Requirements

GiftPot is currently available only in the United States. You must have a valid U.S. address and U.S. bank account to withdraw funds.

3.3 Accurate Information

You agree to provide accurate, current, and complete information during registration and to update such information to keep it accurate, current, and complete.

3.4 Identity Verification

4. Account Registration & Security

4.1 Account Creation

Creating a gift pot does not require an account. However, to manage multiple pots or withdraw funds, you must create an account using a valid email address.

4.2 Magic Link Authentication

We use passwordless authentication via "magic links" sent to your email. You are responsible for maintaining the security of your email account.

4.3 Account Security

• Keep your email account secure
• Never share magic links with others
• Notify us immediately of any unauthorized access
• We are not liable for losses due to compromised email accounts

5. Services & Platform Usage

5.1 Service Description

GiftPot provides a platform for organizing group gift collections ("Gift Pots"). We facilitate the collection and distribution of funds but are not a party to transactions between contributors and organizers.

5.2 Permitted Uses

• Personal gift collections (birthdays, farewells, etc.)
• Small group fundraising for individuals
• Office collections for life events
• Holiday and special occasion gifts

5.3 Service Limitations

• Maximum pot duration: 90 days
• Maximum contribution: $10,000 per person
• Maximum pot target: $50,000
• Minimum contribution: $15

6. Payments, Fees & Refunds

6.1 Platform Fees

GiftPot charges a 5% platform fee on all contributions. This fee helps us maintain and improve the platform, provide customer support, and ensure security.

6.2 Payment Processing

• All payments are processed and funds are held by Stripe, Inc. and Stripe Payments Company
• Stripe is a licensed money transmitter registered with FinCEN in all 50 U.S. states
• Additional processing fees (2.9% + $0.30) apply — these are Stripe's fees, not GiftPot's
• GiftPot never stores credit card information or handles your payment details directly
• Stripe maintains PCI DSS Level 1 compliance and SOC 2 Type II certification
• For payment-related questions, please refer to Stripe's Terms of Service

6.3 Refund Policy

Contributors may request a refund within 7 days of their contribution by contacting support@giftpot.app. After 7 days, refunds are at the organizer's discretion.

6.4 Withdrawals

• Funds available immediately after pot ends
• ACH transfer to U.S. bank accounts only
• Typically arrives in 2-3 business days
• All transfers processed securely through Stripe Connect

6.5 Limited Payment Collection Agent

By creating a gift pot, the recipient hereby appoints GiftPot LLC as their limited payment collection agent solely for the purpose of accepting contributions on their behalf via Stripe. This appointment is limited exclusively to facilitating the technical connection between contributors and Stripe's payment processing services.

Payment Obligation Satisfied: A contributor's payment obligation to the recipient is considered satisfied upon successful processing of the payment by Stripe, regardless of when or whether the funds are ultimately disbursed to the recipient. GiftPot's agency role does not involve possession, custody, or control of any funds.

6.6 Unclaimed Funds

If a gift pot is funded but the recipient does not claim the funds within 180 days after the pot deadline, we will attempt to contact the organizer and recipient via email to facilitate claim of the funds.

If funds remain unclaimed after 365 days from the pot deadline, we may take one or more of the following actions:

• Attempt to return funds to original contributors (minus any non-refundable processing fees already incurred)
• Transfer unclaimed funds to the pot organizer if contributor refunds are not feasible
• Comply with applicable state unclaimed property (escheatment) laws, which may require transfer of funds to the appropriate state authority

7. Prohibited Uses

7.1 You May NOT Use GiftPot For:

• ❌ Illegal activities or fraud of any kind
• ❌ Money laundering or terrorist financing
• ❌ Pyramid schemes, Ponzi schemes, or multi-level marketing
• ❌ Political campaigns, PACs, or political advocacy
• ❌ Charitable fundraising (requires separate 501(c)(3) licensing)
• ❌ Business or commercial purposes
• ❌ Gambling, lotteries, or games of chance
• ❌ Adult entertainment, sexually explicit content, or escort services
• ❌ Firearms, ammunition, explosives, or weapons of any kind
• ❌ Controlled substances, illegal drugs, or drug paraphernalia
• ❌ Hate speech, discrimination, or harassment
• ❌ Structuring transactions to avoid reporting thresholds
• ❌ Transferring funds to or from sanctioned countries, entities, or individuals (OFAC compliance)
• ❌ Creating multiple pots to circumvent platform limits
• ❌ Using proxy, "straw man", or fictitious recipients to obscure the true beneficiary
• ❌ Any activity that would require GiftPot to be licensed as a money transmitter
• ❌ Any activity listed on Stripe's Restricted Businesses list

7.2 Content Standards

All content must be appropriate, lawful, and not violate any third-party rights. We reserve the right to remove content and terminate accounts that violate these standards without prior notice.

7.3 Reporting & Monitoring

GiftPot and our payment processor Stripe actively monitor for suspicious activity. We may, without prior notice:

• Suspend or terminate accounts suspected of violations
• Delay or withhold fund disbursements pending investigation
• Report suspicious activity to appropriate authorities, including law enforcement and financial regulators, as required by law
• Cooperate with law enforcement investigations

8. Privacy & Data Protection

8.1 Privacy Policy

Your use of our Service is also governed by our Privacy Policy, which describes how we collect, use, and protect your information.

8.2 Data Security

• 256-bit SSL encryption for all data transmission on our platform
• CCPA compliant data handling for California residents
• Payment processing handled by Stripe, which maintains SOC 2 Type II certified infrastructure and PCI DSS Level 1 compliance
• GiftPot implements industry-standard security measures for non-payment data
• We never store credit card numbers or sensitive payment information

8.3 Your Rights

9. Limitation of Liability

9.1 Disclaimer of Warranties

THE SERVICE IS PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

9.2 Limitation of Damages

IN NO EVENT SHALL GIFTPOT LLC BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS OR REVENUES.

9.3 Maximum Liability

Our total liability shall not exceed the greater of $100 or the amount of fees you paid to us in the 12 months preceding the claim.

9.4 Third-Party Services

GiftPot is not liable for any acts, omissions, or failures of third-party service providers, including but not limited to Stripe, Inc. and Stripe Payments Company. For disputes related to payment processing, fund custody, or money transmission, you must address such matters directly with Stripe in accordance with their terms of service.

9.5 Indemnification

You agree to indemnify and hold GiftPot LLC, its officers, directors, employees, and agents harmless from any claims, losses, damages, liabilities, and expenses (including legal fees) arising from your use of the Service or violation of these Terms.

10. Dispute Resolution

10.1 Governing Law

These Terms are governed by the laws of the State of Delaware, without regard to conflict of law principles.

10.2 Arbitration Agreement

Any dispute arising from these Terms or your use of the Service shall be resolved through binding arbitration under the American Arbitration Association rules, except you may pursue claims in small claims court if eligible.

10.3 Class Action Waiver

You may only resolve disputes with us individually and may not bring a claim as part of any class, consolidated, or representative action.

10.4 30-Day Opt-Out

You may opt out of arbitration by sending written notice to legal@giftpot.app within 30 days of first accepting these Terms.

11. Contact Information

11.1 Changes to Terms

We may update these Terms from time to time. We will notify you of any material changes by email or through the Service at least 30 days before the changes take effect. Your continued use after changes constitutes acceptance of the new Terms.

11.2 Severability

If any provision of these Terms is found unenforceable, the remaining provisions will continue in full force.

11.3 Entire Agreement

These Terms, together with our Privacy Policy and other policies referenced herein, constitute the entire agreement between you and GiftPot LLC.

11.4 No Waiver

Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights.

12. State-Specific Notices

Additional State Provisions

• New York: Nothing in these Terms limits rights under New York General Business Law. Payment services are provided by Stripe Payments Company, licensed by the New York State Department of Financial Services.
• New Jersey: The limitation of liability provisions may not apply to New Jersey residents in certain circumstances as provided under New Jersey law.
• Illinois: Illinois residents may have additional rights under the Biometric Information Privacy Act (BIPA). GiftPot does not collect biometric information.
• Texas: If you have a complaint, first contact us at support@giftpot.app. If unresolved, Texas residents may contact the Texas Department of Banking, 2601 North Lamar Boulevard, Austin, TX 78705.

Payment Services Licensing

All payment services, including money transmission, are provided by Stripe Payments Company, which holds money transmitter licenses in all 50 U.S. states and is registered with FinCEN as a Money Services Business. GiftPot LLC does not provide payment services and is not required to hold money transmitter licenses. For Stripe's complete list of licenses, visit stripe.com/legal/spc/licenses.