Terms and Conditions of Commitment Contract
Last updated: February 1, 2022
This contract is between you ("Client") and stickK.com, LLC ("stickK"). stickK owns the website located at www.stickK.com (the website, any subdomain thereof, any goal-setting portal hosted by stickK, any mobile version thereof, or any software system designed to support or permit interaction with the website or its functionality over a network, the "Website").
The Parties hereby agree as follows:
1. THE COMMITMENT
2. CHILDREN UNDER AGE 18
- Weekly and Single Report Commitments: 72 hours after the end of the reporting period.
- Daily Commitments: 24 hours after the end of the reporting period.
5. EMAILING THIRD PARTIES
6. TERMS FOR FINANCIAL COMMITMENT CONTRACTS
6.1 Client understands that if, as described in the Commitment Summary Page, Client has elected an amount of money to be at risk in each reporting period in the event of Failure ("Commitment Stakes") then such Commitment Stakes are governed by this paragraph 6. Client further understands that Client is not entitled to any interest on any Commitment Stakes held by stickK pursuant to this paragraph 6.
6.2 Client Representations. Client represents that the total of all Commitment Stakes authorized by Client is less than 10 percent of Client's annual income.
6.3 Payment and Billing. If the Commitment has Commitment Stakes, then Client agrees to provide stickK with certain information, including without limitation, Client's full name, address, telephone number, credit card information, and bank account information. Client agrees to provide stickK with the foregoing information as well as any other mandatory information that is accurate, complete and current. stickK will maintain such information in secure, encrypted form and in accordance with any applicable laws.
Client shall be responsible for all charges incurred as a result of Client's Commitment, including any applicable taxes. If payment cannot be charged to Client's credit card or if a charge is refunded for any reason, including chargeback, stickK reserves the right to immediately and without notice, either suspend or terminate Client's access and account, thereby terminating all of stickK's obligations under this Agreement. Client is required to pay any amounts still owed to stickK at the time Client's account is suspended or terminated.
6.4 Payment Processing. If the Commitment has Commitment Stakes, then Client authorizes stickK to charge Client's credit card in one of two methods: (i) Pay-as-you go, and (ii) Prepayment.
6.4.1 Pay-as-you go. If Prepayment is not selected because that option is either not offered by stickK or not selected by Client, then Client authorizes stickK to charge Client's credit card only upon Failure; such charge shall equal the Commitment Stakes for that reporting period ("Forfeited Stakes"). Client understands that such a charge could occur in each and every reporting period.
6.4.2 Prepayment. This paragraph governs the treatment of Client's Prepayment if one is specified in the Commitment Summary Page. The Prepayment is the amount that Client authorizes stickK to charge Client's credit card to cover the Commitment Stakes of multiple reporting periods at the time of entering into the Commitment Contract. If Client reports Failure pursuant to paragraph 4, stickK will deduct from the Client's Prepayment the Commitment Stakes for that reporting period ("Deducted Stakes"). Client understands that such a deduction could occur in each and every reporting period.
stickK may return any remaining portion of the Prepayment (without interest) to Client at the end of the contract. The Prepayment is owned by stickK and stickK has at most a contingent, non-fiduciary duty to transfer amounts to the Client or to Designated Recipients pursuant to paragraph 6.5. If stickK deducts from the Client's Prepayment during the term of the Commitment Contract, Client authorizes stickK to charge Client's credit card or electronic payment system an amount sufficient to replenish the Prepayment to maintain a constant amount throughout the term of this Commitment Contract. If for any reason Client is more than 2 weeks late in replenishing the Prepayment under this paragraph, Client authorizes stickK to treat the remaining Prepayment as Deducted Stakes and agrees that the contractual obligations of both sides will come to an end. Client and stickK agree that it is a basic assumption of the parties in making this contract that Client will bear the risk of any inability to replenish the funds in a timely manner.
6.5 Transfers. Client agrees that stickK will transfer Forfeited Stakes and Deducted Stakes, less certain fees and transaction costs charged by stickK, as described in paragraph 6.5.4, ("Transferrable Stakes") to the third party friend/foe, charity or anti-charity, or other person or entity (including stickK itself), as identified in the Commitment Summary Page (or if updated with stickK customer service, the Client's Commitment details page) that Client has designated as the party or entity to receive a portion of the Client's Commitment Stakes ("Designated Recipient"), provided that the Designated Recipient may not be the Client and stickK may, in its sole discretion, cancel the Commitment Contract of Client if stickK determines that the Designated Recipient is the Client. The parties intend that neither stickK nor Client will take any charitable tax deduction for any contribution made to charity pursuant to this contract. stickK has no liability to Client or any Designated Recipient for any shortfall in the amount of funds made available by Client to stickK to pay the Designated Recipient. Under no circumstances is stickK obligated to make transfers to third parties beyond the Transferrable Stakes.
6.5.1 Transfers when the Designated Recipient is a Friend/Foe. It is the responsibility of the Client or, if appropriate, the Designated Recipient to provide stickK with the correct information for transmitting Transferrable Stakes to a Designated Recipient and stickK shall have no obligation to verify such information. stickK's only obligation shall be to attempt to transmit Transferrable Stakes in accordance with transmission information provided to stickK by the Client or the Designated Recipient. If, prior to the end of the Commitment Contract for which Client has designated a Friend or Foe, the Designated Recipient has not accepted the invitation to serve as Designated Recipient, or if stickK is unable, after good faith efforts, to transmit Transferrable Stakes to the Designated Recipient within a period of 90 days following the completion of the Commitment Contract, the Client authorizes stickK to contribute the Transferrable Stakes to a person or entity of stickK's choosing, including stickK itself.
6.5.2 Transfers when the Designated Recipient is a charity or anti-charity. stickK's only obligation shall be to attempt to transmit Transferrable Stakes in accordance with transmission information provided to stickK by the Designated Recipient. If stickK is unable, after good faith efforts, to transmit Transferrable Stakes to the Designated Recipient within a period of 90 days following the completion of the Agreement, the Client authorizes stickK to contribute the Transferrable Stakes to a person or entity of stickK's choosing, including stickK itself. If a Designated Recipient is an anti-charity and rejects the Transferrable Stakes (or Transferrable Stakes associated with another user's commitment), then Client authorizes stickK to change the Designated Recipient to either an organization with similar values to the originally selected organization or charity for reporting periods beginning after such rejection.
6.5.3 Timing of transfer to Designated Recipient. The actual distribution of Transferrable Stakes will occur, at stickK's sole discretion, either periodically during the term of the Commitment or upon such schedule as stickK may adopt.
6.5.4 Fees. In order to pay transaction costs (including both transaction specific and non-transaction specific Commitment Contract costs, collectively referred to as “Contract Costs”) and compensate stickK for its services under this Agreement, stickK deducts and retains the Contract Costs and the stickK compensation from Forfeited Stakes and Deducted Stakes to calculate Transferrable Stakes. Such deductions are made as follows: (a) (i) for all Commitment Contracts for which the Designated Recipient is a friend or foe, the greater of $1.00 or the transaction costs actually incurred by stickK in such transactions; (ii) for all Commitment Contracts for which the Designated Recipient is an anti-charity, 50% of all Forfeited Stakes and/or Deducted Stakes; and (iii) for all other contracts, 29.5% of all Forfeited Stakes and/or Deducted Stakes and (b) for Commitment Contracts described in clauses (ii) and (iii) stickK allocates and deducts all Contract Costs proportionately among the Commitment Contracts.