Terms of Use

These Cedar rewards terms (the “Rewards Terms”) supplement the Cedar Client Terms of Service (the “Agreement“) and form part of the Agreement. These Rewards Terms are between MBD Financial Ltd., doing business as Cedar, a UK company ("Cedar”), and Client that has enrolled in the earn program under these Rewards Terms (the "Program").

Participation in the Program is subject to these Rewards Terms, the Agreement and Cedar’s, Privacy Policy, and any other agreements Cedar have in place with Client. If Client does not agree with these Rewards Terms then they cannot participate in the Program.

Capitalized terms in these Rewards Terms are as defined in the Agreement.

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1. Participation in the Program

Client must have an active Cedar Account on the Cedar System which has previously been used to assist in Payment Transactions with Members and be in good standing to benefit from the Program. 

The Program is not available in all countries or locations. Participation in the Program is unauthorized in any jurisdiction where all or any portion of this program may violate (or may cause Cedar to violate) any legal requirements, and Client agrees not to participate if Client is a resident of any such jurisdiction. 

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2. Requirements for valid referrals (“Valid Transaction”)

To receive referral rewards in the Program (“Rewards”), the referring party (“Referrer”) must invite a first-time client that is approved by Cedar to receive services (“New Client” or “Referee”), using a unique Cedar link provided by Cedar. 

The New Client must meet the following conditions:

‏‏‎a) Referee accesses the Cedar Services from Client referral method (e.g., clicking on the unique link Client provided) and successfully signs up with Cedar through that link;

b) Referee successfully completes their first Payment Transaction with Cedar to a person other than Client in a manner that is compliant with the Agreement and any additional transaction requirements specified via Cedar Services; 

c) The first transaction must be completed by Referee within 3 months of signup;

d) Referees first Payment Transaction is not canceled, reversed or charged back (either by Referee, Cedar or the applicable Member);

e) None of Client or Referee are in breach of any agreement with Cedar or any Member; and

f) Such other requirements and conditions as may be posted on the Site, the App or in updated versions of these Rewards Terms.

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3. Prohibited usage

Client shall only use our Referral Program in good faith for lawful purposes. Client shall not:

a) Refer existing Cedar clients, including through different identities, logins, registrations, or any other similar methods;

b) Refer persons under the age of 18;

c) Create multiple identities, logins, or registrations for itself, its Affiliates or non-arm’s length parties;

d) Refer fictitious, duplicate, fraudulent, or otherwise non-existent businesses;

e) Refer potential Referees via a bulk distribution method, distribution to strangers, or in any other manner that would constitute or appear to constitute as unsolicited email, unauthorized advertising, electronic communications, or spam under applicable law or regulation. Where Client is an influencer, as determined by Cedar, distribution of a Cedar-approved message or other content in the form of advertising is permitted, but not via direct messages, email, text or other direct communication;

f) Use the Program for commercial purposes;

g) Participate in the Program in any way that would damage or tarnish the Cedar brand, goodwill, or reputation;

h) Participate in the Program where doing so would be prohibited by any applicable law, statute or regulations;

i) Use the Program in a questionable manner or in breach of this Agreement, the Terms of Service, any other agreements Cedar have in place with Client, or in violation of any law, statute or governmental regulation; or

j) Earn or seek to earn Rewards for Payment Transactions that are with Client or any of its Affiliates or that are processed using Client funds or assets.

Should Client engage in activity that Cedar believes, in its sole discretion, constitutes a prohibited usage or otherwise breach this Agreement, Client shall not be eligible and will not qualify for a Rewards.

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4. Data Protection

Client represents and warrants to Cedar that Client has obtained the express consent from the individuals and entities whose data Client provides to Cedar in the Program.

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5. Referral Rewards

Upon completion of a valid Payment Transaction by a New Client that is not subsequently canceled, reversed or charged back Cedar will pay Referrer a Reward in respect of the corresponding New Client. Rewards will be settled to a Wallet designated by the Client for such purpose and approved by Cedar through the Cedar Account upon Client request providing that the this is after the New Client’s first such Payment Transaction.

As per disclosure in the Cedar Account or the Site, the New Client may also be eligible for Rewards and shall be deemed a Referrer of its own New Client status but without duplicating the amounts payable.

Rewards will be paid in the amount described on the Site or in Referrer’s Cedar Account or through other disclosure supplied by Cedar from time to time, each of which are incorporated into these Rewards Terms by reference.

Rewards can be redeemed for exclusive benefits, discounts on send transactions, or withdrawn as cash rewards. 

Cedar reserves the right to remove access to the Program or to refuse a Reward if Cedar suspects violation of terms or any activity Cedar determines as abusive or any use prohibited by Cedar.

If a New Client causes losses to Cedar or a Member, Cedar may set-off the amount of those losses from Rewards not yet settled to the Client.  If Client contributed to the losses occurring, then Client shall reimburse all Rewards paid to Client and shall forego the right to any future Rewards on any New Clients. 

Referrer is responsible for any federal, state or local taxes applicable to its participation in the Program and agreed to electronic delivery to Cedar of any tax forms that Cedar may be required to deliver under the Program. 

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6. Changes and Termination of this Agreement or Program

Cedar may amend these Rewards Terms, any Program requirements or other terms or policies that govern Client participation in the Program from time to time. The revised Rewards Terms will take effect when posted or as otherwise expressly indicated. By continuing to use the Program after any changes to this Agreement or Program requirements take effect or taking such other action as specified by Cedar, Client agree to be bound by those changes.

Cedar reserves the right to, in our sole and absolute discretion to amend, change, terminate cancel or restrict the Program at any time (for some or all users), or any Referral Reward at any time and for any reason without notice.

Cedar shall not be liable under these Rewards Terms for more than USD$2,000.

In the event the Program is terminated or if Client Cedar Service is terminated for any reason, Cedar will not be obliged to credit any Rewards that would have otherwise been payable.

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