Terms and conditions

Sections

Summary

1. About Cardeo
2. About these terms
3. Our products and services
4. Using our products and services
5. Closing your Cardeo account
6. The e-money wallet
7. Contacting us
8. Your data
9. Security
10. Liability, warranties and indemnification
11. Copyright

1. About Cardeo

Our company

1.1 Cardeo Ltd is registered in England and Wales under company number 12712807 with a registered office at Hat Loft, 1 Mill Yard, Guildford Street, Luton, UK, LU1 2NR. In this agreement “Cardeo”, “we”, “us”, and “our” refer to Cardeo Ltd.

1.2 Cardeo Ltd is registered with the Financial Conduct Authority (FRN 940438) to carry on account information services, under the Payment Services Regulations 2017 and is an introducer appointed representative of the Quint Group Limited (FRN 972873) for credit broking.

1.3 We do not make any representations, warranties, or guarantees of any kind that any or all of the products and services are right for you. If you are not sure whether any of the products or services are right for you, you should seek advice from a qualified financial, legal, tax or other adviser.

Our website and app

1.4 You can find lots of information about us and our products and services on this website, cardeo.com (the "Cardeo website").

1.5 We operate a mobile application (the "Cardeo app") which you can download on your mobile phone. All products and services are delivered via the Cardeo app. You will not be able to access the products and services without having first installed the Cardeo app.

1.6 Your use of the Cardeo app remains at all times subject to the terms and conditions and privacy policies of the app store from which you downloaded it. If there is a conflict between those terms and conditions and these terms of use, the Cardeo terms of use shall take priority.

1.7 You agree that you are responsible for any and all data charges you incur from mobile service providers, internet service providers or other data providers in using our services.

1.8 We cannot guarantee that our services will always be free from viruses. You are responsible for configuring your information technology including your mobile phone to access Cardeo services, and for the security of your internet connection. You should use your own virus protection software.

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2. About these terms

Accepting these terms

2.1 By downloading the Cardeo app and registering with us, you confirm that you accept these terms of use ("terms") and that you agree to be bound by them. If you do not agree to these terms, you must not use our services.

2.2 By using Cardeo’s app and services you accept not only these terms but also the details contained within:

• Our privacy policy
• Our cookie policy

2.3 These terms and policies make up your agreement with us and set out how you may make use of our services. They set out, in detail, your rights and responsibilities to us. They also contain our rights and responsibilities to you during your use of any of Cardeo’s products and services. Please read these terms carefully before you start to use Cardeo’s services. We recommend that, wherever possible, you print or save a copy of them for future reference. If you have any questions please discuss these with our support team.

2.4 Cardeo’s terms will always take priority over the policies above, with the privacy policy coming before the cookie policy. Cardeo’s terms will also take priority over any other competing external policy.

How these terms work

2.5 Our agreement is with you. This agreement is between you and us. No other person will have any rights to enforce any of its terms.

2.6 We can transfer our rights. We can transfer any of our rights and obligations under these terms to comply with a legal or regulatory requirement and we reasonably think that a transfer would not have a significantly negative effect on your rights.

2.7 Each part of these terms stands alone. Each of the paragraphs of these terms works separately. Bulleted or ordered lists belong to the same paragraph as the sentence that precedes them. If for any reason a part of these terms becomes invalid or unenforceable, we both agree that those parts can be removed and that the rest of the terms will remain in full force and effect.

2.8 We can take action later. If you fail to keep to any of your obligations and we don’t take action against you (immediately or ever), we can still take action at a later date.

2.9 English law applies. These terms are governed by English law. This means any dispute or claim arising out of or in connection with these terms will be decided under English law.

— 2.9.1 You and we both agree that the courts of England and Wales will have non-exclusive jurisdiction. If you are living in a different part of the UK when these terms are first applied, English law will still apply, but will not act to deprive you of any mandatory protections that would have been available to you in that region. In addition, the courts of that country will have jurisdiction to hear any claims in relation to this agreement, but you can still bring a claim against us in the courts of England and Wales if you want to.

2.10 These terms may change. We may need to make reasonable changes to these terms every now and then to reflect changes:

• To the law or regulatory requirements
• To the way we manage your Cardeo account as a result of changes in technology and changes to the Cardeo system
• To the way we manage your Cardeo account if our regulatory permissions change and/or expand
• In the cost of providing your account and other Cardeo services
• To our existing products and services
• Any other thing that we currently can’t predict

2.11 We’ll tell you if these terms change. If changes are clearly in your favour, we’ll tell you once we’ve made them. Otherwise, or if we’re required to do so for legal or regulatory reasons, we’ll give you at least seven days’ notice. We’ll assume you’re happy with any changes unless you tell us otherwise. You can end these terms as described in section 8 if you don’t agree with the changes.

2.12 Location of current terms. You can always download a set of the most recent terms from this page, cardeo.com/terms.

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3. Our products and services

3.1 Cardeo will act with due skill, diligence and care when offering our products and services to you. Not all of our products and services will be right for all customers. You should seek independent advice if you are unsure on the suitability of any product or service.

3.2 Access to the products and services offered by Cardeo are at our sole discretion. Cardeo may reasonably, and as permitted under applicable law, add, modify or discontinue any feature or functionality or any other tool within our products and services at its own discretion and without further notice to you. Where a material adverse change is made to the core functionality of our products and services, Cardeo will give you reasonable notice of such change in line with our provisions.

3.3 Our product and services are more fully described on other pages of our website cardeo.com. They include the following services:

Account information services

3.4 This service will enable you to access, manage and act on information regarding any of your connected credit cards, bringing your credit card account data into one place. This includes information on your balances, statements and spending as well as interest charges and fees.

3.5 We track and analyse information from your connected credit cards to help you better understand your repayments, interest and spending patterns.

3.6 The information we receive comes via our application programming interface (API) aggregator partners. When you connect your credit cards to us you will be accessing one of our partner’s services through Cardeo and permit our partners to access your account information to share the information with us.

Payment plans

3.7 A Cardeo payment plan works by using a dedicated e-money account to receive your funds before making payments to your credit cards. Your e-money account is operated and maintained by Modulr, an e-money provider for whom we distribute and redeem e- money. Creation of your own e-wallet account is subject to your acceptance of Modulr’s terms and will be set up as part of your payment plan to execute your payment choices.

3.8 If you opt to use our payment plan feature, you will be subject to identity verification checks to set up the e-money account. The payment plan will allow you to set and allocate your budget towards the cards you wish every month from the Cardeo app.

3.9 When creating a payment plan we will use your credit card account information to show you details of your outstanding balances, and where available your minimum repayment amounts for that month.

3.10 Our payment plan offers you the ability to set a repayment budget each month and choose how to allocate your budget against each of your connected credit cards, once you have met your minimum repayment obligations . We offer you three options to make your repayment selections:

• Manually, where you choose what amount you wish to pay to each card.
• Avalanche method, which will show you your credit card in order of interest rate with the highest interest rate first, enabling you to choose to pay your most expensive debt off first.
• Snowball method, which will show you your credit cards in balance order, enabling you to choose to pay your smallest balances first before moving on to larger ones.

3.11 Our payment plan feature gives customers a free-to-use, optional payment service. We do not accept any responsibility you have for ensuring that your credit cards are paid or for the timing of your payments outside of the provision of our optional payment service.

3.12 Our payment plan feature is provided on a non-advised basis. It is for customers to use at their leisure to allow easier payments. You remain responsible for making repayments to your credit card accounts. Failing to meet minimum repayments could result in late payment fees, damage to your credit score and debt recovery action.

3.13 Before executing a payment plan you should ensure that your allocations are correct as once confirmed the payments will be sent directly to your credit card companies and Cardeo will have no legal recourse to the funds.

3.14 If by paying off your credit card debt you neglect your priority bills or other bills that you need to pay, it is important to understand what may happen. Failing to pay priority bills such as rent, mortgage, loans or other bills such as, taxes, fines, child support payments or other debts could result in a negative impact to your credit score, the loss of access to credit and essential goods or services, or in extreme circumstances to the eviction from or repossession of your home. You should always think carefully about the repayments you are making towards your credit cards and ensure these are appropriate and sustainable.

Third party deals

3.15 Cardeo, through the connection of your credit card information, will actively try to find money saving opportunities for you and present these to you within the app. This may be through content, website links and offers from various third parties.

3.16 The goods and services contained within our offers are usually provided by third parties. Cardeo is not endorsed or sponsored by any of the third party providers you may see within the app. However, should you take up a product or deal, Cardeo may receive a payment from those third parties.

3.17 Cardeo is not responsible for the products and services given to you by these third parties. These fall under the terms and conditions of the third parties themselves.

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4. Using our products and services

Registering an account

4.1 To use our product and services you must first download the Cardeo app and register an account with us. You only need to complete the registration process once. You are not able to register to use our services on behalf of someone else.

4.2 To register, you must give us accurate, complete and up-to-date contact information, including email address and telephone number. You are responsible for the information you give us. You must promptly update your Cardeo account if there are any changes to the information you have given.

4.3 Registration is subject to approval by us in all cases. We reserve the right, in our sole and absolute discretion, to turn down any application for registration, without having to give a reason. If we approve your registration, you will receive a notification from us. We may be required by law to carry out checks (including checks with credit reference agencies) for the purposes of confirming your identity.

4.4 We may ask you for additional information, from time to time, when you are opening your account or at a later stage. If this information does not meet our requirements, this may result in your account opening being delayed or turned down, or suspended or closed once opened.

Account eligibility

4.5 To be eligible for a Cardeo account you must:

• Be a resident in the United Kingdom
• Have the full legal capacity to enter into a contract
• Be 18 years old or over

4.6 You will not be eligible for a Cardeo account if any of the following are true:

• The application is not being made for yourself
• You already have a Cardeo account
• There is any reason that Cardeo is unable to grant you an account under the law that applies to us

4.7 It is your responsibility to make sure you satisfy all of our minimum eligibility criteria set out above before choosing to register with us. By registering, you confirm to us that you meet all of the minimum eligibility criteria.

4.8 Additional eligibility criteria may apply to a particular service. If applicable this will be indicated in the app. It is your responsibility to ensure that you satisfy the eligibility criteria both to sign up for a Cardeo account and to use any of our services.

Accessing your account

4.9 For your Cardeo account to work in the app you must:

• Access the app on a mobile phone capable of downloading and running the app, including support for 2-factor authentication
• Give accurate, complete and up-to-date information requested during set up
• Verify your mobile number via the one-time passcode and verify your email address via the email that we send you

4.10 During registration for an account with us you will be asked to set up a 4-digit PIN which will be used as part of your personalised security credentials. You must take all reasonable precautions to keep your login details and PIN secure at all times. You are the only authorised user of the account so you must not disclose your personalised security credentials to anybody else. You are responsible for all activities that occur using your personalised security credentials and you must contact us immediately if you discover or suspect any unauthorised use of your Cardeo account.

What you must do

4.11 By using Cardeo’s products and services you agree to comply with your contractual obligations that govern your use of these products and services.

4.12 When you access our products and services, you shall:

— 4.12.1 Exercise all due care, skill and diligence in using them.

— 4.12.2 Make sure that you comply with all applicable laws and regulations in connection with them.

— 4.12.3 Provide all documentation or information that may be reasonably required by Cardeo to ensure it complies with applicable law and regulation, including information to verify your identity. Failure to do so may result in the termination of your account under these terms or our partner Modulr FS’s terms.

— 4.12.4 Not use them to provide products or services to any third party;

— 4.12.5 Give us consent to access your credit card accounts on a read-only basis. Those credit cards should be used for personal use only and not business purposes.

— 4.12.6 Agree to submit only one application to use our products and services and to have only one Cardeo account. Any additional Cardeo accounts will be terminated under provision 5.3 of these terms.

Fees

4.13 Cardeo is free to use. We do not charge you for using the Cardeo app, website or services. Setting up, using and closing your Cardeo account are all free of charge.

4.14 Cardeo does not charge any penalty or cancellation fees.

4.15 As Cardeo is free to use, our revenue is generated by product advertisement and by providing links to third party goods and services within the app. Cardeo will receive payments if you choose to use or purchase third party products and services that are promoted within the app.

4.16 As you would expect, these terms only cover the services provided by us. They don't deal with taxes or costs that might be charged by third parties that you need to pay to receive our services – for example costs charged by your mobile phone provider.  

4.17 While we aim to help you avoid incurring fees from your credit card issuers, we cannot guarantee this and we are not responsible for any fees that you do incur in relation to your credit cards.

Third party providers

4.18 We may partner with third party providers, including e-money providers, when providing our products and services to you. These terms include important information about the relationship you might have with such third party providers. Third party providers may have their own terms and conditions and policies in addition to ours which may be applicable to you. Please also refer to our privacy policy in relation to the processing of your personal data in this context.

4.19 When selecting to work with third parties, we shall act in your best interests, and under applicable laws.

Provision of account information services

4.20 We partner with FriendlyScore and TrueLayer and act as their agent for the provision of account information services. You will be accessing FriendlyScore or Truelayer’s services through Cardeo. By connecting your credit cards you are allowing FriendlyScore or Truelayer to access account information from your credit card companies and share it with us. We use your data on your credit cards to offer personalised financial management services. These include timely alerts, nudges, budgets, spending analysis and repayment data.

4.21 In using FriendlyScore or TrueLayer’s account information services you agree that they may process, gather or analyse information from one or more linked credit cards to give you, through the Cardeo app, information regarding your transactions and financial position across all credit card accounts.

4.22 By agreeing to these terms, you also agree to FriendlyScore and TrueLayer’s end user terms which are available here:

• friendlyscore.com/terms-and-conditions
• truelayer.com/enduser_tos/

4.23 The terms of service set out the terms on which you agree to FriendlyScore and Truelayer accessing information on your payment accounts. Both FriendlyScore and TrueLayer are subject to UK and EU data protection laws and are required to treat your data under those laws. You can find copies of their privacy policies here:

• friendlyscore.com/privacy-policy
• truelayer.com/privacy

4.24 FriendlyScore is authorised by the Financial Conduct Authority in the UK under the Payment Services Regulations 2017 to provide account information services (FRN 821100).

4.25 TrueLayer is authorised by the Financial Conduct Authority in the UK under the Payment Services Regulations 2017 to provide account information services and payment initiation services (FRN 793171).

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5. Closing your Cardeo account

5.1 You can close your Cardeo account at any time with immediate effect by contacting support@cardeo.com or through customer support at cardeo.com/support.

5.2 We will never charge you a cancellation fee.

5.3 We may immediately suspend or close your account for a number of reasons including where:

• You use Cardeo in a way that would be a breach of these terms
• You don’t give us information we’ve asked for or information you’ve given is false or misleading
• You have been inactive in your account for an extended period
• Your behaviour towards us makes it difficult to deal with you (for example your behaviour towards our staff is inappropriate and unacceptable)
• You’ve broken these terms in a serious or persistent way and you haven’t put the matter right within a reasonable time of us asking you to
• We’re required to by law or regulation
• We can verify that the account holder has died
• A duplicate account is identified

5.4 We will give you at least 2 months’ notice if we want to close your account for any other reason, unless informing you would compromise reasonable security measures or otherwise be prohibited by law.

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6. The e-money wallet

6.1 Cardeo is a partner platform of Modulr FS Limited for payment initiation services. When setting up a payment plan Cardeo will use Modulr FS products. The products consist of:

• The account (e-money wallet)
• Related payment services which enable funds to be sent to the account, and paid out from the account through an application programming interface (API) used by Cardeo to create and run the account
• The beneficiaries you create (credit cards)
• Payment rules (payment plan) that will be applied to them

6.2 You will be asked when setting up an initial payment plan to consent to Modulr’s terms and conditions and consent to us setting up the account on your behalf.

6.3 By setting up a payment plan you agree and authorise Cardeo to instruct Modulr to access and use the Modulr products on your behalf, including making transactions, viewing and retrieving transaction data, initiating refunds and closing the account, under the Modulr account terms and conditions and these terms and conditions.

6.4 Full details of Modulr account and its terms and conditions can be found in the Modulr terms.

Purpose of the wallet

6.5 The purpose of opening the e-money account is for Cardeo to enable placing funds, as authorised by you with Modulr for the sole use of paying off credit cards. Cardeo will do this by:

• Initiating on your behalf inbound faster payments into the account
• Processing onward payments via faster payment to connected external credit cards
• Operating the account via an online portal and through the API

6.6 You agree to Cardeo providing all such information to Modulr, for them to check and verify your identity, as required by law.

6.7 You acknowledge by accepting Modulr’s terms and conditions that a search of the electoral register may take place for anti-money laundering purposes to verify the details you have given us.

Wallet account termination

6.8 You may terminate the agreement and your account with Modulr immediately by notifying us. We will execute any account closure with Modulr on your behalf.

6.9 Modulr may suspend or terminate your account immediately if, for any reason, you are:

• unable to satisfy the due diligence procedures,
• in breach of this agreement,
• found to have given false, incomplete or misleading information,
• found to be engaging in fraudulent, money laundering, terrorism financing or other illegal activity or we have reasonable suspicions in respect of same or
• we are required to do so under any applicable law or regulation or at the direction of any regulatory, law enforcement or other competent authority. We shall notify you as soon as possible, unless prohibited by law, of such suspension or termination of the agreement.

Wallet protection

6.10 Unlike bank accounts, the Financial Services Compensation Scheme (FSCS) does not apply as a protection for e-money products. However, alternative regulatory protections are in place. Modulr safeguards your money in line with regulatory obligations for EMIs by placing funds in a segregated account held at the Bank of England. This means 100% of your money is protected in the unlikely event of Modulr's insolvency, with additional protections in place to help ensure an orderly wind down if required.

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7. Contacting us

7.1 If you wish to contact us for any reason, you can email support@cardeo.com or contact us through customer support at cardeo.com/support

7.2 If we have to contact you or give you notice in writing, we will do so by email, through the website or app or through an instant messaging service using details you give us. We may also contact you by phone or SMS text message.

7.3 It is your responsibility to ensure that the contact information we have for you is up to date. You are required to tell us as soon as you can if there is a change to:

• Your name
• Your address
• Your email address
• Your mobile number

7.4 Following any of these changes it might be necessary for us to ask you for, and for you to provide, more information as part of this process.

7.5 We may record and monitor telephone conversations that we have with you. We will store recordings based on applicable law, or for as long as we consider necessary to be able to offer the services to you.

Complaints

7.6 To submit a complaint, you may send it in any of the following ways:

• Message us at cardeo.com/support
• Email us at complaints@cardeo.com
• Phone our support team on (+44) 0330 828 3678
• Send it in writing to Hat Loft, 1 Mill Yard, Guildford Street, Luton, UK, LU1 2NR

7.7 If we're unable to resolve your complaint, or you are not satisfied with our resolution, you may have a right to refer your complaint to the Financial Ombudsman Service by contacting them:

• In writing to The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
• By telephone on 0800 023 4567
• By email to complaint.info@financialombudsman.org.uk

7.8 All complaints should be raised with Cardeo in the first instance. If you fail to raise the complaint with us, you will not be entitled to refer it to the Financial Ombudsman Service.

7.9 Information regarding our internal complaint handling procedures can be found on our website page cardeo.com/complaints.

7.10 Should you wish to raise a complaint in relation to the service with a credit card issuer, please refer to the complaints policy of that credit card issuer.

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8. Your data

8.1 You agree to us using your information to offer and run our services, and to any other lawful grounds that Cardeo has to use your information.

8.2 You are required to keep your personal data updated.

8.3 If you’re no longer happy for us to use your information, we’ll have to close your account. We may keep your personal data and use it where we have lawful grounds to do so. For example, any identity verification information we need to maintain for regulatory reasons.

8.4 By agreeing to these terms you also agree to our privacy policy which contains further details about how we treat your data.

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9. Security

Keeping your account safe

9.1 You must keep your Cardeo account information, security details and the devices you use to access your account safe. This means:

• not sharing your security details with anyone
• not letting anyone else use your Cardeo account
• keeping your devices and security details safe

Lost or stolen devices

9.2 If your mobile device or computer is lost or stolen or if you suspect someone has gained unauthorised access to your security details or password, you must contact us immediately at support@cardeo.com or through cardeo.com/support.

9.3 To take any action, you will need to give certain account information used to set up the account so we can verify your identity.

Security incidents

9.4 If you believe that your account has been compromised or do not recognise activity on your account, contact us as soon as possible at support@cardeo.com or through cardeo.com/support.

9.5 If we become aware or suspect that you are affected by fraud we may block or suspend the use of your account, until such time that the account security has been restored.

9.6 If we become aware of suspect that an operational security incident has occurred, some or all of the functionality of your account may be limited until such time that the suspected incident is resolved. The account may also be blocked where regulation or law requires us to.

Unauthorised access and interference

9.7 You must not access without authority, penetrate, interfere with, damage or disrupt, or attempt to do any of the same, any part of our services or their security measures, any servers, other equipment or networks connected to our services, or on which they are stored, or any software used in providing them.

9.8 You may not inject content or code or otherwise alter or interfere with the way any page of our services is rendered or displayed in a user’s browser or device.

9.9 You must not access our services via a means not authorised by Cardeo.

9.10 You must not change, modify, adapt or alter our services or change, modify, adapt or alter another website so as to inaccurately imply an association with our services or with Cardeo.

9.11 Cardeo does not accept unsolicited content, information, ideas, suggestions or other materials except where we have set out specific criteria and conditions for submitting them to which you agree.

9.12 Where you do submit unsolicited content, information, ideas, suggestions or other materials submitted in breach of the preceding paragraph, you agree that we may use such materials for any purpose whatsoever, including developing and marketing products and services without any liability or payment or recognition of any kind to you.

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10. Liability, warranties and indemnification

Our liability

10.1 We’ll do all we reasonably can to make sure that our services are not interrupted and are accessible at a reasonable speed. However, we can’t promise that this will always be the case, for example where we rely on third parties to complete processes.

10.2 If we breach our terms with you, we’ll only be responsible for losses that could have been foreseen at the time we entered into these terms and are directly related to the event in question.

10.3 Your e-money wallet is provided by Modulr. Please refer to their terms and conditions. Cardeo will not be liable for any loss or damage you may suffer as a result of the use of, or inability to use, your dedicated e-money account which is caused by matters outside of our control.

10.4 Nothing in these terms will stop us being responsible to you if we act fraudulently, we act with a very significant degree of carelessness, or we’re at fault and the law does not allow us to exclude or limit our liability.

10.5 Our services are only for domestic and private use. You agree not to use the product for any commercial, business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.

10.6 We do not in any way exclude or limit our liability for:

• Death or personal injury caused by our negligence
• Fraud or fraudulent misrepresentation

10.7 Subject to clause 10.6, and to the extent permitted by applicable law, third parties we work with will not be liable to you in connection with the services (including your use or inability to use the services) for:

• Loss of profits or goodwill
• Any statement or conduct on or via the services by any third party
• Loss of data which is caused by factors other than negligence or breach of statutory duty on the party of us or third parties we work with
• The acts or omissions of the providers of your credit card accounts
• The cost to you of obtaining goods or services as substitutes for the services
• Any other loss or damage suffered by you in connection with the services or these terms

Warranties

10.8 You agree that your use of Cardeo services and all information, products and other content (including that of third parties) included in or accessible from us is at your sole risk.

10.9 You agree that the services are provided on an as-is and as-available basis. We expressly disclaim all warranties of any kind as to us and all information, products and other content (including that of third parties) included in or accessible from us, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.

10.10 We make no warranty that:

• We will meet your requirements
• We will be uninterrupted, timely, secure, or error-free
• The results that may be obtained from the use of the services will be accurate or reliable
• The quality of the services or any products, services, information, or other amenities or material purchased or obtained by you through us will meet your expectations
• Any errors in the technology will be corrected

10.11 Any material downloaded or otherwise obtained through the use of the services is done at your own discretion and risk and you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by you from us will create any warranty not expressly stated in these terms.

Indemnification

10.12 You agree to protect and fully compensate us and our affiliates from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable solicitors’ fees) caused by or arising from your use of the services, your violation of these terms or your infringement, or infringement by any other user of your Cardeo account, of any intellectual property or other right of anyone.

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