1. Introduction and Scope

IOU Wallet ("IOU Wallet", "we", "us") provides a digital platform that enables users to record, acknowledge, and optionally resolve informal peer-to-peer understandings ("IOUs"). These Terms & Conditions govern access to and use of the IOU Wallet platform.

By using IOU Wallet, you confirm that you have read, understood, and agreed to these Terms.

2. Nature of the Service: Recording, Not Enforcement

IOU Wallet is not a financial institution, payment service provider, lender, escrow service, broker, or clearing house. The platform's core function is the recording of mutual understandings between users.

An IOU recorded in IOU Wallet represents a documented acknowledgment between parties that a certain understanding exists. This acknowledgment is created through mutual acceptance by the involved users and functions as a virtual handshake: a shared, digital record of intent.

IOU Wallet does not impose obligations, compel performance, or guarantee fulfillment, and does not adjudicate disputes. The platform does not transform informal understandings into legally binding contracts.

3. Virtual Handshake and Mutual Acknowledgment

An IOU is created only when all relevant counterparties explicitly acknowledge its contents. This mutual acknowledgment constitutes a shared reference point, not an enforceable agreement.

Users are solely responsible for reviewing the accuracy of all IOU details, confirming that the recorded understanding reflects their intent, and declining or correcting any IOU that is inaccurate or incomplete.

Once acknowledged, an IOU reflects the state of mutual understanding at that point in time. IOU Wallet does not independently verify, validate, or interpret the substance of any IOU.

4. Non-Enforceability and Legal Character

IOUs recorded on IOU Wallet do not constitute legally enforceable obligations and do not represent securities, financial instruments, or credit agreements.

IOU Wallet does not provide litigation support, mediation, arbitration, debt collection, or enforcement/mitigation services.

Any legal or financial consequences arising from an IOU exist, if at all, independently of the platform and are governed solely by the relationship between the users involved.

5. User Responsibility and Accuracy

Users remain fully responsible for the correctness of recorded information, the decision to accept or reject an IOU, and the decision to settle, partially settle, or not settle an IOU.

IOU Wallet does not assume responsibility for misunderstandings, inaccuracies, or disputes arising from user-provided data.

6. Settlement Features and Third-Party Providers

Where settlement options are made available, they are entirely optional, user-initiated, and executed via third-party providers.

IOU Wallet does not hold user funds, receive or transmit payments, or act as an intermediary in the flow of funds.

Settlement is performed through external payment or crypto providers by redirecting users via payment links or integrations. Any fees, delays, or limitations imposed by third-party providers are outside the control of IOU Wallet and are the sole responsibility of the user.

7. Currency Conversion and Rates

Where settlement involves currency conversion, conversion services are provided by third-party providers. Exchange rates, fees, and execution conditions are determined exclusively by those providers.

IOU Wallet does not set exchange rates, does not guarantee best available conversion rates, and does not assume responsibility for discrepancies between providers.

8. Use of IOU Wallet as Described

By creating an account and using IOU Wallet, you acknowledge and agree to use the application strictly in accordance with its described functionality as outlined in the "How It Works" section.

You understand and agree that:

• IOU Wallet is a record-keeping and coordination tool only
• IOUs created in the application are not legally enforceable contracts
• The application does not guarantee performance, delivery, payment, or settlement by any party
• IOU Wallet does not act as an intermediary, escrow service, payment processor, or arbitrator
• Any settlement, whether manual or on-platform, is confirmed solely based on user acknowledgement

You acknowledge that IOUs represent mutual understanding between users and rely on personal integrity and communication. In the event of disagreement or dispute, users are encouraged to resolve matters directly and verbally outside the platform.

Continued use of IOU Wallet constitutes acceptance of these terms and of the operating principles described in the "How It Works" section.

9. Limitation of Liability

To the maximum extent permitted by law, IOU Wallet shall not be liable for non-performance of any IOU, disputes between users, financial loss arising from settlement decisions, actions or failures of third-party providers, or reliance on recorded IOUs. Use of the platform is at the user's own risk.

10. Suspension and Termination

Users may stop using IOU Wallet at any time. IOU Wallet reserves the right to suspend or restrict access in cases of misuse, legal requirement, or security concerns.

11. Governing Law

These Terms are governed by the laws of the European Union.

12. Contact

For questions regarding these Terms, contact: info@iou-wallet.com