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Terms & Conditions

 

OVERVIEW

Thank you for visiting AllowanceTreeTM. If you use our platform, it means you accept the following:

The purpose of this website is to educate children on the effective use of money, through practical application in the real world, using their own allowance money, all under the close supervision of their parents. The goal is for children, our future financial base, to learn to avoid debt and to build wise and secure investments.

AllowanceTreeTM allows parents to play the role of “Employer” and “Bank” for their children. Parents give their children their allowances automatically every month. While their children’sonline balances are credited at the beginning of each month, parents do not actually deposit real money online. Parents hold their children’s allowance money in the manner they see fit, and when their children use it online, all purchases must be approved by parents and paid for by parents with the allowance funds they are holding for their children. We recommend that parents use a separate Paypal account since it also provides an easy way for them to pay for their children’s online purchases with their children’s money.

Legal ownership of all funds and assets represented by Student Accounts on AllowanceTreeTM is retained by their parents.

Each family unit on AllowanceTreeTM acts as a closed system. Unlike social networking sites, children using AllowanceTreeTM can only directly interact with their own parents.

While parents are not legally bound to honor any of the monetary transactions made with their children, we strongly encourage that you do. If not, the trust, and therefore the learning that this platform is designed to deliver, are undermined. 

Parents using AllowanceTree.com grant permission to their children to use their real world funds, represented in their Student Account, within the AllowanceTreeTM platform:

  • They can transfer money to and from savings and investments,
  • They can shop online, spending up to the amount in their Cash Balance,
  • They can donate to charity,
  • They can invest in their chores,
  • They can invest in silver or gold, and
  • They can apply for loans from their Parents.
  • They can also use any modules (functions) that will be added to AllowanceTreeTM in the future to expand the number of avenues students have to engage in money management.

 

Any investment spending or losses incurred in a child’s investments accrue back to the parent’s balance, and any profit generated by the child’s portfolio is credited to their Cash Balance, and therefore owed to them by their parents.

The parents account shows them how much money their children have in the system, that they should have set aside and available for use when requested.           

When a child selects a product through the AllowanceStoreTM, the purchase request is sent to their parents, who can either approve or decline the purchase. When they approve it, they also complete payment for it using Paypal. The product is then purchased by AllowanceTreeTM, the costs (including shipping and handling) are deducted from the child’s Cash Balance, and the item is shipped to your shipping address.

To the extent we are able, AllowanceTreeTM will seek to combine shopping and precious metal orders when they come from the same vendor, in order to minimize shipping costs.

AllowanceTreeTM will not intentionally make age-inappropriate products available for sale in the store, but we cannot assure that no child will make an inappropriate purchase through our platform. As a result of parent having power of approval over purchases, parents are expected to ensure that their children do not make inappropriate purchases.

Silver and Gold are made available for investment through AllowanceTreeTM, for purchase both by parents and their children. The site features real-time market prices for these precious metals. When an order for silver or gold is approved and paid for, the purchase price is fixed at that time. The value of the purchase, including shipping and handling, is subtracted from the child’s Cash Balance. Any gold or silver purchased by a child on AllowanceTreeTM remains the legal property of their Parents.

Parents have access to their children’s portfolio balances, as well as their investing and spending histories. Children who use the site acknowledge that their parents will have access to information about all of their transactions, as well as the progress of their money management.

In order to encourage full educational impact, Children earn incentives, in the form of Points & Rank, for investing and managing their money well.

Points are earned for various actions they take, for good money management, and for Charity given. Based on how much they owe (to their parents), compared to their allowance income, each child also has a Credit Rating, which affects not only their point total (and therefore their rank), but also the interest rates they earn on savings and pay on loans.

The higher a child’s Points and Rank, the more incentives they earn. These are subject to change, and are described in the “Points & Rank” section of the website, and may or may not include Cash prizes.

 

OUR RELATIONSHIP 

AllowanceTreeTM helps you facilitate your child’s financial education by providing a platform for them to track, manage, and use their money online. Parents retain custody of all funds. Use of the core functionality of allowance tracking, savings, charity, shopping, parental oversight and more is free. A Premium monthly subscription payment of $2.99 (per family) enables access to the full range of AllowanceTreeTM features, such as the Grades Stock market and Chore Salary Center.

All funds donated to charity, once approved and paid by parents, are forwarded, in full, to the charities in question, paid either weekly or monthly at the discretion of AllowanceTreeTM, and are no longer considered within the AllowanceTreeTM system. Charitable donations are therefore non-refundable.

For each purchase made at the Allowance Store, the total price, including shipping, is deducted from the cash balance of the user making the purchase. All orders placed for silver or gold are processed based on the market price of the metal at the time of purchase. All purchased precious metals are considered the legal property of the Parent.

 

PRIVACY

Your privacy is important to us on AllowanceTreeTM. We will not share your information with other parties.

Each family unit on AllowanceTreeTM acts as a closed system. Unlike social networking sites, children using AllowanceTreeTM can only directly interact with their own parents.

 

SECURITY 

You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access the AllowanceTreeTM system. You are also responsible for keeping your contact information up to date in your Account Profile in order that we may contact you regarding your account as necessary.

 

ACCOUNTS

In order to use the AllowanceTreeTM system, an account must be created by a Parent (who is at least 18 years of age). The Parent then creates a Student Account for each of their children. Each child has their own username and password.

Children under the age of 18 can sign up on AllowanceTreeTM, but their account will remain inactive. They must enter their Parent’s email address in order that we can contact them to sign up, create an account, and activate their child’s account.

 

FUNDING ALLOWANCE ACCOUNTS 

Parents are also responsible for paying any profits or capital gains made by their children to their children.

When you subscribe to Premium Membership on AllowanceTreeTM account, it constitutes your authorization for your PayPal account to be billed for your monthly subscription fee of $2.99. This subscription can be cancelled at any time.

 

NOTIFICATIONS 

Your use of AllowanceTreeTM constitutes your agreement that AllowanceTreeTM may provide you with Communications about your Account, your payments, or other matters involving your Portfolio, via email. AllowanceTreeTM reserves the right to close your Account if you withdraw your consent to receive electronic Communications.

Any electronic Communications will be considered to be received by you within 24 hours of the time we email it to you. Any Communications sent to you by postal mail will be considered to be received by you 3 Business Days after we send it.

 

CONTACTING US 

Messages to AllowanceTreeTM should be directed to ContactUs@AllowanceTree.com.

 

AGREEMENT TERMINATION 

AllowanceTreeTM, in its sole discretion, reserves the right to terminate this Agreement, access to its website, or access to any of its services for any reason and at any time upon notice to you and refunding to you of any funds held in custody for you.

To close your account, follow the instructions in your user profile. 

 

INTELLECTUAL PROPERTY 

The compilation of all content on this site is the exclusive property of AllowanceTreeTM and protected by U.S. and international copyright laws. All software used on this site is the property of AllowanceTreeTM or its software suppliers and protected by United States and international copyright laws.

In addition, AllowanceTree.com graphics, logos, page headers, button icons, scripts, and service names are trademarks, or trade dress of AllowanceTreeTM in the U.S. and/or other countries.

The AllowanceTreeTM trademarks and trade dress may not be used in connection with any product or service that is not owned by AllowanceTreeTM, in any manner that is likely to cause confusion among customers, or in any manner that disparages or discredits AllowanceTreeTM. All other trademarks not owned by AllowanceTreeTM that appear on this site are the property of their respective owners, who may or may not be affiliated with, connected to, or sponsored by AllowanceTreeTM.

One or more patents and/or patents-pending owned by AllowanceTreeTM apply to this site and to the features and services accessible via the site. Portions of this site may operate under license of one or more patents.

 

SHOPPING 

If you use AllowanceTreeTM, you agree to be responsible for all purchases made through the site, that they are made with your consent, and that they will abide by the Terms of Use of the respective vendor.

AllowanceTreeTM does not warrant that product descriptions, pricing, search results, User ratings and reviews or any other content on the Allowance Store is accurate, complete, reliable or current.

 

LIMITATION OF LIABILITY

THIS SITE AND ALL INFORMATION, CONTENT, MATERIALS, PRODUCTS (INCLUDING SOFTWARE) AND SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THIS SITE ARE PROVIDED BY ALLOWANCETREE ON AN "AS IS" AND "AS AVAILABLE" BASIS, UNLESS OTHERWISE SPECIFIED IN WRITING. ALLOWANCETREE MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF THIS SITE OR THE INFORMATION, CONTENT, MATERIALS, PRODUCTS (INCLUDING SOFTWARE) OR SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THIS SITE, UNLESS OTHERWISE SPECIFIED IN WRITING. YOU EXPRESSLY AGREE THAT YOUR USE OF THIS SITE IS AT YOUR SOLE RISK. 

TO THE FULL EXTENT PERMISSIBLE BY APPLICABLE LAW, ALLOWANCETREE DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. ALLOWANCETREE DOES NOT WARRANT THAT THIS SITE; INFORMATION, CONTENT, MATERIALS, PRODUCTS (INCLUDING SOFTWARE) OR SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THIS SITE; THEIR SERVERS; OR ELECTRONIC COMMUNICATIONS SENT FROM ALLOWANCETREE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. ALLOWANCETREE WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF THIS SITE OR FROM ANY INFORMATION, CONTENT, MATERIALS, PRODUCTS (INCLUDING SOFTWARE) OR SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THIS SITE, INCLUDING, BUT NOT LIMITED TO DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES, UNLESS OTHERWISE SPECIFIED IN WRITING.

CERTAIN STATE LAWS DO NOT ALLOW LIMITATIONS ON IMPLIED WARRANTIES OR THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES. IF THESE LAWS APPLY TO YOU, SOME OR ALL OF THE ABOVE DISCLAIMERS, EXCLUSIONS, OR LIMITATIONS MAY NOT APPLY TO YOU, AND YOU MIGHT HAVE ADDITIONAL RIGHTS.

 

DISPUTES 

Any dispute or claim relating in any way to your visit to AllowanceTreeTM or to products or services purchased through the AllowanceStoreTM will be resolved by binding arbitration, rather than in court, except that you may assert claims in small claims court if your claims qualify. The Federal Arbitration Act and federal arbitration law apply to this agreement.

There is no judge or jury in arbitration, and court review of an arbitration award is limited. However, an arbitrator can award on an individual basis the same damages and relief as a court (including injunctive and declaratory relief or statutory damages), and must follow the terms of these Conditions of Use as a court would.

We each agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated or representative action. If for any reason a claim proceeds in court rather than in arbitration we each waive any right to a jury trial. We also both agree that you or we may bring suit in court to enjoin infringement or other misuse of intellectual property rights.

 

APPLICABLE LAW

By using any AllowanceTree service, you agree that the Federal Arbitration Act, applicable federal law, and the laws of the state of California, without regard to principles of conflict of laws, will govern these Conditions of Use and any dispute of any sort that might arise between you and AllowanceTree

 

COMPLETE AGREEMENT 

This User Agreement ("Agreement") is a contract between you and AllowanceTreeTM and applies to your use of the AllowanceTree.com platform, including AllowanceVilleTM and the AllowanceStoreTM.

We may amend this Agreement at any time by posting a revised version on our website. The revised version will be effective at the time we post it. In addition, if the revised version includes a Substantial Change, we will alert all users about the change by email.

If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced. 



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