TERMS AND CONDITIONS "PAYMENT ACCOUNTS”

These terms and conditions of use (the "Terms and Conditions'') constitute a contract between any person ("User/s") who wants to access and/or use the management services provided by Belo Cash S.A. for Argentine Users ("Belo" and jointly with the Users, the "Parties'') through the mobile application belo.app (the "App") owned by the company Gralcey S.A. with address at Andes 1365, Escr: 308- Montevideo, Uruguay (the "Developer") and/or the platform accessible from the website https://belo.app/ (the "Website"). For the purposes of these Terms and Conditions, all references made to the App shall be deemed to be references to the Website.

These Terms and Conditions describe the rights, responsibilities and obligations of the Parties when using the App and any related product, functionality or service offered therein (any of them, indistinctly, the "Service" and, jointly, the "Services", as applicable).

It clarifies that Belo will operate as a manager and agent of the Users by the instructions given by them through the App for the use of the Services made available therein and as a collection and/or payment agent of the Developer.

The User acknowledges and agrees that unless otherwise indicated, any use of the Services available on the App shall constitute a contract between the User and the External Provider (as referred on the General Terms of Service) directly. The User acknowledges and agrees that the External Provider may establish special conditions applicable to one or more Services, and that Belo shall not form part of the contractual relationship between the User and the External Provider.

The User must read, understand and agree to all of the conditions set forth in these Terms and Conditions and other policies and principles incorporated by reference prior to registration as a User and/or use of the Services. Please read them carefully before completing the registration form on the App. In any case, the use of the Services implies the User's acceptance of these Terms and Conditions.

Any person who does not wish to accept these Terms and Conditions, which are mandatory and binding, should abstain from registering the App and/or the Services.

1. USER REGISTRATION IN THE APP

1.1 In order to register in the App it is mandatory to complete all fields of the registration form with valid data and accurate, precise and true personal information (the "Personal Data"). Additionally, Users must satisfactorily comply with the identification and due diligence process set forth in the App, as well as with the respective policies and regulations applicable to the prevention of money laundering and financing of terrorism ("AML/CFT") that may be implemented. In this sense, in order to comply with the AML/CFT regulation, the App will share some User data with Belo.

1.2 All information and Personal Data entered by the User is a sworn statement and the Users guarantee its truthfulness, accuracy, completeness, validity and authenticity. Belo reserves the right to request proof and/or additional information in order to corroborate the information provided by a User regarding Personal Data, as well as to reject a registration request or temporarily or permanently suspend those Users whose data could not be confirmed or in case of detecting suspicious activities, without such decision generating any indemnification or compensation rights for the User.

2. ACCOUNT OPENING

2.1 Upon registration in the App, the Argentine User will be granted an account in order to access the Services and functionalities offered by the App (the "Account").

2.2 The User will access his/her Account by entering his/her e-mail address or username and chosen personal security key ("Login Password") in the App. The User agrees to maintain the confidentiality of his or her Login Password. The User shall be solely and exclusively responsible for all operations carried out on his/her Account. The User agrees to notify Belo immediately and by suitable and reliable means of any unauthorized use of his/her Account, as well as of any unauthorized entry or attempted entry by third parties. Likewise, the App may establish a double authentication factor in order to verify your identity when using the Services.

2.3 Only those persons who have legal capacity to contract and are duly registered as Users in the App may be Users and use the App and the Services. Users who do not have legal capacity, who have been suspended or disqualified may not be Users. Minors may be Users of the App subject to compliance with certain requirements and conditions, which shall include, in particular, the prior authorization of their parents and/or guardians. The parents, guardians or legal guardians of minors or incapable persons who use the App shall be liable for such use, including any charges, billing or damages arising therefrom. In the case of legal entities, the representative of the entity must communicate by email to [email protected] in order to be instructed on the steps to follow.

2.4. With the exception of the Accounts of minors duly authorized by their parents and/or guardians, it is only allowed to use the Services in their own name and not in representation and/or on behalf of third parties. The User shall not resell or assign the Services to third parties.

2.5. It is clarified that, in all cases, the Account is personal, unique and non-transferable, and will be assigned to a single User and its sale, assignment or transfer (including reputation) under any title is prohibited. The User may not permit or authorize the use of his/her Account by third parties. Any reference to money in the App shall be understood to be made to the currency of legal tender in the Republic of Argentina, except in cases where another currency is expressly indicated.

3. FUNCTIONALITIES OF THE APP AND SENDING OF APP

3.1. The App allows Users access to payment account services (“Payment Account”) provided by the corresponding External Provider. In this regard, the User acknowledges and accepts that unless otherwise indicated to the User by means of a communication through the App, Belo: (i) does not offer payment services; (ii) does not offer Payment Accounts; (iii) is not authorized to operate as a financial entity by the BCRA; and (iv) does not provide the User with any banking or exchange services.

3.2. By completing the registration process and requesting the opening of an Account, the User grants an irrevocable mandate to Belo to execute the instructions given by the User through the App.

3.3. The User may make requests through the App (the “Request”). All the operations carried out from the App shall be understood to have been carried out by the User, and shall be considered valid, legitimate and authentic without the need for any other type of confirmation. The User is solely responsible for the Requests issued and their consequences. Belo reserves the right not to process those Requests that: (a) are incomplete; or (b) in which there are discrepancies between the data provided by the Users and the data actually entered to Belo; or (c) because Belo considers that they may be considered illegal, suspicious and/or in violation of these Terms and Conditions; or (d) because Belo considers it necessary, without the need to justify its decision; or (e) because the External Provider so indicates.

3.4. Belo shall not be liable for erroneous or incomplete orders, instructions, Requests and/or payments caused by the User's erroneous entry of the identifying data of the Payment Account (or of any Payment Account or bank account external to the App), relevant information of the recipient or of the payment transaction. The User assumes, acknowledges and accepts full responsibility for any losses that may arise, especially if fraudulent, duplicate, unauthorized or merely erroneous instructions are given through the User's name, as well as for any damages that may be caused to Belo. The User declares to know and accept all the risks of unauthorized third parties accessing the information corresponding to his/her Account, for which he/she exonerates Belo from any type of responsibility in this regard, knowing that Belo has made its best technical efforts so that the information included in each of its systems maintains the highest degree of confidentiality possible.

4. INCOME, CREDITING AND WITHDRAWAL OF FUNDS

4.1. The App shall provide the means enabled by the External Providers of Payment Provider Service (PSP) for the purpose of depositing and withdrawing funds from the Payment Accounts associated to the Account. Once a Request has been accepted and authorized by Belo, Belo will request the External Provider to comply with the instruction contained in the Request -be it deposit or withdrawal of funds- subject to compliance with all requirements applicable to the requested transaction (including but not limited to the availability of funds in the Payment Account). Otherwise, such Request will not be processed. Once a Request has been authorized, the sums of money corresponding to such Request shall remain in pending settlement status and shall be credited to the Payment Account, subject to the terms governing the opening of such Payment Account, within the terms and conditions set forth in this Clause 4.

4.2. Transfers to payment or bank accounts not owned by the User requesting the transfer may be subject to limits, if so permitted or required by the regulations in force (in particular, the BCRA's communications and ordered texts and the PLA/FT regulations), whether for security reasons or for any other reason.

4.3 Details of all deposits and withdrawals made by Users will be reflected in the activity of each User's Account.

5. LIABILITY

5.1 The Users exempt Belo from liability for situations that may affect the banks, External Providers, the Payment Account or other accounts where the funds available in the Account are deposited, as well as for political and economic situations that may arise in the country, and which are beyond Belo's control. In these cases, Users may not hold Belo, its affiliates or subsidiaries, controlling and/or controlled companies and/or companies subject to common control, or demand the refund of money or payment for loss of profits, due to damages resulting from this type of situation or due to payment orders not processed by the system or rejected, suspended or cancelled accounts.

5.2 Users acknowledge that the funds delivered under the Request in the Payment Accounts will be available as they are settled by the relevant External Provider in each Payment Account, in accordance with the applicable settlement deadlines. Therefore, in the situations described in the preceding paragraph Belo shall not be obliged to follow the User's instructions in the event of different options for rescheduling, exchange, disposition, conversion or return of the available funds. In such situations, the External Provider shall have the right to choose the option that, at its sole discretion, is the most convenient and may even choose the option it deems most appropriate in order to settle the available funds deposited in the banks in a quick, simple and orderly manner, even if it implies reductions, reductions or waits in the amounts deposited.

6. FEES

6.1 By using the App, the User agrees to pay Belo a fee (the "Fee") each time he/she makes Requests involving the receipt of funds into his/her Payment Account or makes deposits to or withdrawals from his/her Payment Account, subject to certain conditions. By virtue of this, the User authorizes Belo to deduct and retain the Fee or any other amount due from the funds available in your Payment Account.

6.2 Likewise, the User acknowledges and accepts that the use of the Services may have a cost to be paid to its External Provider, and therefore authorizes Belo and the External Provider to deduct and withhold from the funds available in its Payment Account any amount owed to the External Provider, as well as to any supplier of products and services contracted through the App. The User will be informed of the referred commissions through the App. Belo reserves the right to charge other types of Fee to the User, and shall notify the same in the App and/or on the platform.

6.3 The User authorizes Belo and the External Provider to deduct, withhold, and/or restrict in its use, from the funds available in its Payment Account, an amount equivalent to the Fees or any other amount due (the "Amount Due"), whether the Amount Due was generated in the Account, or in any other account that, in Belo's reasonable judgment, is considered an account related to the Account (the "Related Account"). Belo will consider an account of a third party to be a Related Account to that of the User when both accounts share one or more attributes that reasonably suggest that there is a joint operational use of the accounts and/or that they denote operational knowledge of each other and/or that the use of one or both accounts is intended to avoid obligations that may be imposed on the other. In those cases in which the Amount Owed has been generated in a Related Account, the User must justify, if applicable, that they are not Related Accounts. Notwithstanding the latter, the determination of the existence of Related Accounts is subject to Belo's sole, exclusive and reasonable criteria.

7. SECURITY AND CONFIDENTIALITY

7.1 The User must keep his/her cell phone in a safe place and with mechanisms that restrict access to the applications and functionalities of the device. It is the User's obligation to protect his/her Login Password, which will allow him/her to access the App. Users shall be solely and exclusively responsible for all operations carried out with their respective passwords, email accounts and/or telephone numbers. The Users undertake to notify Belo immediately through the authorized channels of any unauthorized use of their Account, as well as of any unauthorized entry or attempted entry by third parties.

7.2 The User releases Belo from any liability related to (i) operations that are not carried out due to suspicion of financial crimes, (ii) operations carried out from the App with the use of the User's Login Password, (iii) operations carried out by unauthorized third parties as long as the User has not blocked the Account after a situation of robbery, theft or loss of the device. In the event of a situation of theft, robbery or loss of the device, the User must communicate such event to Belo through the service channels provided in the App, so that it can perform the necessary blocking and actions so that the Account cannot be accessed. If the User does not comply with this commitment, he/she may be held responsible for the operations carried out by third parties.

7.3 The User must always keep his/her e-mail account updated so that Belo can carry out the necessary security procedures for the provision of the Services.

7.4 Belo processes the User's personal data in accordance with the provisions of its Privacy Policy. The User should consult the Privacy Policy of the App for details regarding the processing of their personal data.

8. RESPONSIBILITY FOR THE APP, REQUEST AND SERVICES

8.1 The use of the App shall in all cases be at the sole responsibility and risk of the User. Belo assumes no responsibility for the malfunction of the device and/or software used by the User to access the Services, nor does it guarantee the availability and continuity of the operation of the App and/or the Services, nor the inviolability of the data stored or transmitted by public telecommunications networks or other means, nor the absence of malfunctions, viruses in the App that may cause damage to the User. Belo shall not be responsible for failures related to and/or caused by third parties and the systems managed by them, whether they are Internet access service providers, cellular telephony, actors of the National Payment System, financial entities and/or any other product and service provided by persons other than Belo. Belo assumes no responsibility whatsoever for the operators or providers of the other accounts, nor for the actions of the External Providers, nor for their operation or availability, limiting its intervention to the execution of the Requests sent by the User in relation to the same. Users are responsible for acts of god and force majeure and may not, under any circumstances, hold Belo liable for any damages resulting from the aforementioned difficulties, or for any other kind of damages, including indirect, special or consequential damages arising or experienced by Users, even in the event that such failures affect the amounts to be paid or credited.

8.2 The User declares to know and accept all the risks that unauthorized third parties may access the information corresponding to its Account, for which it exonerates Belo from any type of responsibility in this regard, recognizing that Belo has made its best technical efforts so that the information and/or Personal Data are kept under the highest degree of confidentiality and security possible. Belo shall not be liable for payments or any other mistaken operation made by the User as a result of the erroneous introduction of e-mail, C.B.U., C.V.U., crypto wallet keys or access keys and/or use of any other Account and/or alias and/or any other data of the recipient required for the processing of the Services, amount or any other relevant information in the Requests.

8.3 Belo is unaware of and has no knowledge of the obligation that may give rise to any Request that the User issues under the App and will not verify the cause or obligation that originated it, nor the other circumstances relating to the payment instruction contained in the Request. Nor will Belo verify the capacity to contract of the Users. No right to claim will be generated by the User against Belo and the User will be solely responsible for the Request and its consequences. The User acknowledges and accepts that when making transactions with other Users or third parties, he/she does so of his/her own free will, giving his/her consent freely and at his/her own risk and responsibility. In no event shall Belo be liable for direct damage, loss of profit, or any other damage and/or harm that the User may have suffered, due to transactions made or not made through the App. In the event that one or more Users initiate any type of claim or legal action against one or more other Users, each and every one of the Users involved in such claims or actions exempt Belo and its directors, managers, employees, agents, branches, affiliates, controlling and/or controlled companies, operators, representatives and attorneys-in-fact from all liability. The Users shall have the same responsibility in relation to the means of payment used for their transactions, who do not guarantee the fulfillment of the obligations assumed by the Users with third parties in relation to the payments to be made or received through the App.

8.4 The Users release Belo from all liability for situations that may affect the banks, third parties and the bank or virtual accounts where the funds or available assets linked to the Belo Accounts are deposited (including but not limited to the Payment Account and/or the other Accounts), as well as for political and economic situations that may arise in the country, and which are beyond Belo's control. In these cases, Users may not hold Belo, its affiliates or subsidiaries, controlling and/or controlled companies, or demand the reimbursement of money or payment for lost profits, for damages resulting from this type of situation or for payment orders not processed by the system or rejected, suspended or cancelled accounts. Notwithstanding any statement to the contrary in these Terms and Conditions, Belo shall be limited -as attributable and attributable to its gross negligence or willful misconduct- to indemnify for any breach that would entitle the User to a claim cumulatively and in total to the maximum amount that the User has paid through its Account on the day prior to the occurrence of the damage that gave rise to the User's claim.

8.5 Belo and its related companies shall not be liable for the conduct of the User that originates from or is linked to information contained in false e-mails or that appear to come from Belo or that are sent by third parties unrelated to Belo or its related companies; nor shall they be liable for any harmful consequences derived from such conduct, nor for the circulation of the aforementioned false e-mails.

9. VALIDITY PERIOD AND TERMINATION

9.1 The contractual relationship between the Parties arising from the acceptance of these Terms and Conditions is for an indefinite term but may be terminated by either Party at any time, without the need to state the reason. To do so, the User must send an email to the email address [email protected] and Belo will do the same to the email address provided by the User during the registration process. For the purposes of exercising this power, it is necessary that the party seeking termination does not owe the other party or third parties involved in the operations the fulfillment of any obligation. The revocation or closure of the Account by will of the User will be without cost to the User.

9.2 Notwithstanding the foregoing and in addition to the grounds for termination due to User default referred to in Clause 12 below, Belo reserves the right to close the Belo Accounts of its Users in the following cases: (a) for not registering movements in the Account during the term of 360 (three hundred and sixty) calendar days; (b) registration of transactions with an unacceptable credit risk or with a risk of fraud for Belo; (c) verification that any false, incomplete, inaccurate or misleading information has been provided, or inconsistencies in the information provided at the time of registration; (d) suspicion of fraudulent or illegal conduct outside of the User's usual pattern of conduct; (e) transactions outside of your transactional profile and without justifying the origin and legality of your funds; and/or (f) record of any misuse of the App.

9.3 Termination for any reason will imply the closure of the Account in all cases as well as the elimination of the access credentials, which implies that the User will not be able to access again. However, it will not suspend the fulfillment of all Requests already authorized by the User at the time of notifying the termination. The status of the Account will change to Closed. The transaction information will remain for the entire life of the App, since it is structural information, and the User's particular information will remain as a report, as a backup, for a period of at least 2 (two) years from the time of closure, or as long as Belo considers that it is no longer necessary or relevant to the purposes for which it has been collected. The User may request a copy of such information, via email to [email protected], only from the email address with which it was registered, or via valid letter to the legal address of Belo, such report will be delivered within the term determined by Belo, only by email or via letter to the address provided by the User in the aforementioned request.

9.4 If applicable, Belo reserves the right to inform commercial reporting companies or credit bureaus of the existence of the unpaid and delinquent debt, as authorized by current legislation on personal data protection. Upon closure of an Account, the User agrees to: (a) immediately stop using the Services; (b) terminate the use of the authorization provided for in these Terms and Conditions; and (c) not to hold Belo liable or claim and hold Belo harmless for the termination of access to the Account and for the deletion of its information -including Personal Data- from Belo's servers, which right is reserved by Belo in accordance with the applicable law.

9.5 Belo shall not be liable to Users for compensation, reimbursement or damages in connection with the use of the App or the Services, or any termination or suspension thereof. Any termination of the relationship with Belo shall not relieve the User of any obligation to pay any charges, expenses accrued prior to the termination of the Account and any other sums owed by the User to Belo if applicable under these Terms and Conditions.

9.6 In the event of the User's death or incapacity, the User's successors or legal representatives must present the documentation requested by Belo in order to have access to the funds in the Account. Until the required documents are verified to allow access to the Account, the Account will remain suspended. Subject to compliance, the Account will be permanently closed. For further information on the process, please send an email to: [email protected]. It is clarified that External Providers have their own policies and procedures for these cases, so access to the Account may not necessarily allow the withdrawal of funds available in a Payment Account. This will depend on the terms of use of the Service in question and any request in this regard should be addressed to the External Provider.

10. BREACHES BY THE USER

10.1 Belo may take any and/or all of the following actions in the event of User’s Non-Compliance (as such term is defined in Clause 10.2): (a) terminate all outstanding terms; (b) demand that the User justifies any operation performed that Belo considers unusual, suspicious, fraudulent, or in bad faith; (c) disable, freeze, close the Account(s); (d) initiate legal action against the User; and (e) demand full payment of the debt, plus compensatory and default interest, and other accessories, commissions, charges and expenses (including professional fees and judicial or extrajudicial costs, without prejudice to other legal remedies available). Likewise, Belo may take all necessary actions to protect its security, that of its Users or third parties, as well as to prevent fraud and illicit activities.

10.2 The User shall be deemed to be in "Non-Compliance" of these Terms and Conditions (which shall occur automatically and without prior notice) if: (a) violates any law, ordinance, regulation or rule; (b) acts in a defamatory, offensive, fraudulent, discriminatory manner; (c) fails to pay when due any item owed to Belo or the External Provider; (d) gives funds to a destination other than that stated; (e) refuses to provide any information, documentation or justification for any required action; (f) fails to comply with any legal provision whose violation is sanctioned with the cancellation of the credits and/or bank services and/or taxes owed; (g) any judicial or administrative measure is ordered against its assets or other circumstances occur that could affect the moral and/or material solvency of the User; (h) the User is in a situation of "cessation of payments", in reorganization proceedings or bankruptcy is requested and this is not lifted at the first procedural opportunity; (i) if its Payment Account, its accounts opened in other financial entities or any of the other Accounts are disqualified to operate in the financial system; (j) breaches any obligation assumed in the Terms and Conditions or any future modification thereof or breaches any obligation under any other contract in force with Belo or any other company related and/or linked to Belo; (k) provides inaccurate, fraudulent, or incomplete information either during the opening of the Account or at any time during the term of the contractual relationship with Belo; (l) takes any action that creates an unreasonable, extra or disproportionate load on any Belo software; (m) creates, uses, facilitates, provides any virus, malware, denial of service attack, cancelbots, worms, adware, spyware, or any other item that may damage, interrupt, corrupt, modify the operation of, impair, or otherwise allow unauthorized access to, obtain data or information of Belo from any of the Services; (n) use an anonymous proxy, artificial intelligence, robot, spider, applications, modified proprietary code, devices whose operating system has been altered without authorization or approval of the original manufacturers, any other device, automated or manual process that is intended to: execute, modify, emulate, emulate, monitor or copy Belo's software; (o) perform any activity/operation that Belo considers to be contrary to morality and/or good customs or that are not in accordance with the purpose for which the App was created; (p) breaches or interferes, or intends to disrupt or interfere with the App, software, network systems and infrastructure used by External Provider to provide Services; (q) engages in excessive, unnecessary or unexplained transactions; (r) if engage’s, in Belo's sole discretion, in any activity deemed fraudulent or malicious; and/or (s) mistreats, disrespects, harasses, offends, harasses or offends any employee of Belo.

11. ASSIGNMENT

The User may not assign, transfer, delegate or dispose of the rights or obligations arising from these Terms and Conditions, in whole or in part. Belo may assign, transfer, delegate or dispose of the rights or obligations arising from these Terms and Conditions or its contractual position, in whole or in part, for which the User gives its prior consent to the performance of such actions. It shall not be necessary for Belo to notify the assigned debtor of the assignment, pursuant to the provisions of articles 70 to 72 and concordant articles of Law No. 24.441.

12. USER'S DECLARATIONS

12.1 The User declares under oath that the funds and assets to be used in the transaction with Belo come from, and will be used for, lawful activities and that all movements recorded in its Accounts will be strictly related to the activity declared to Belo and/or to public sources that may be consulted by Belo. The User undertakes to provide, at Belo's request, all the information/documentation tending to prove his/her identity, legal capacity, address and any other information necessary at Belo's discretion to comply with the regulations in force. If the User does not provide the information required by Belo, he/she may incur in a situation of non-compliance as provided in these Terms and Conditions. All information provided by the User is a sworn statement.

12.2 In compliance with the provisions of the United States Foreign Account Tax Compliance Act (FATCA), the User declares, as a sworn statement, that: (a) it is not a U.S. person (citizen and/or resident); nor (b) it acts in the name and on behalf of a U.S. person; (c) if it is a U.S. person, it undertakes to cooperate with Belo and report everything required, in order to enable Belo to provide the Internal Revenue Service of the United States (IRS) with information regarding its person and/or Account.

12.3 For the purposes of the Organization for Economic Cooperation and Development (OCDE) financial account information exchange, the User declares, as a sworn statement, to be domiciled for tax purposes in the Argentine Republic.

12.4 The User acknowledges and accepts that Belo is committed to promoting and conducting its business in an ethical manner and avoiding any corrupt practices, aligning its actions at all times to the provisions of Law No. 27,401 on Criminal Liability of Legal Entities.

13. DOCUMENTATION

The User expressly chooses that the documentation and information related to these Terms and Conditions provided by Belo have, unless otherwise expressly provided, electronic support. In any case, the User may make copies, including on physical media, of the documentation and information provided by Belo relating to these Terms and Conditions. The User irrevocably authorizes Belo and/or its designee to record the User's operations related to the Services, and to use such recordings as evidence before administrative and/or judicial authorities. The records issued shall be considered sufficient proof of compliance with the instructions and Requests, and replace the need for any receipt and are fully enforceable against the User. To such effects, the Parties agree to grant evidentiary value to the records issued as a consequence of the approvals or instructions given by the User, with the scope established in the legislation in force.

14. ADDRESSES. NOTIFICATIONS

14.1. The following special address of Belo is fixed for contractual purposes: Tucuman 1, 3rd floor. The domicile constituted by the Users for the purposes of using the Services is the domicile registered by the Users in the App.

14.2. It shall be valid and the User expressly accepts that all notifications made to the Users, including but not limited to notices, reminders or communications related to the Services, be addressed: (i) to the main e-mail address registered by them (special electronic address, according to art. 75 of the National Civil and Commercial Code) or (ii) through the App.

15. TAXES, COSTS AND EXPENSES

The use of some of the Services may require the payment of taxes provided by the applicable legislation. All present or future taxes and fees that may be applicable shall be paid by the User. Likewise, the User shall be responsible for the payment of any fine, fee, penalty, damage, cost, or claim, which may be applied to Belo by acquiring companies and/or credit card brands, as a result of chargebacks related to the transactions made by the User.

16. PAYMENT SERVICE PROVIDER OFFERING PAYMENT ACCOUNTS

The provider of the payment accounts is Paxsys S.A., which is limited to offering payment services and is not authorized to operate as a financial entity by the Central Bank of the Argentine Republic. The funds in legal tender deposited in the Belo Account do not constitute deposits in a financial institution, nor do they have any of the guarantees that such deposits may enjoy in accordance with the applicable legislation and regulations regarding deposits of financial institutions.

17. GOVERNING LAW AND JURISDICTION

These Terms and Conditions shall be interpreted and governed by the laws of the Republic of Argentina. In the event of any difference, disagreement or dispute arising from the use of the App, or the application, interpretation, validity and/or scope of these Terms and Conditions, the User agrees to initiate a claim exclusively through the means provided in the App, or failing that, to communicate with Belo in a reliable manner, sending the claim, so that the Parties can try to reach an agreement.

In the event that, after 30 (thirty) calendar days have elapsed since the claim was initiated, it has not been possible to reach a solution, the User may choose and submit his claim to the following instances, if applicable: