Terms and Conditions
These terms and conditions (“Terms and Conditions”) govern the access to and use, from anywhere in the world, of the application, website, and/or content developed, operated, and/or administered (the “Platform”) by TUZUMMA ASESOR EN INVERSIONES INDEPENDIENTE, S.A.P.I. DE C.V. (“Zumma”), as well as any other Agreement or related legal relationship entered into in a legally binding manner with Zumma, which must be interpreted systematically.
These Terms and Conditions create obligations between Users and Zumma; therefore, Users must carefully read this document before using the Platform. However, by using the Platform, you expressly consent to be bound by these Terms and Conditions, in accordance with applicable legal provisions. If you do not agree with any of the conditions or provisions set forth in these Terms and Conditions, you must refrain from using the Platform, deactivate your user account, and/or delete the application, as applicable.
By accessing and/or using the Platform, as well as by contracting any of the products and/or services provided by Zumma (the “Services”), you are accepting (i) these Terms and Conditions, (ii) the agreement, if any, that you enter into with Zumma, and (iii) Zumma’s Privacy Notice (the “Privacy Notice”), which is available for review at the following link: <https://www.zummafinancial.com/en/privacy-policy>, and you agree to be bound by the foregoing.
Certain Services provided on the Platform are rendered by third parties unrelated to Zumma, so all Users must carefully read the contractual terms of each of them.
General Conditions
This Platform is offered by TUZUMMA ASESOR EN INVERSIONES INDEPENDIENTE, S.A.P.I. DE C.V., registered in the Public Registry of Investment Advisors of the National Banking and Securities Commission under registration number 30184-001-(16375)-18/08/2023, with address at Bosque de Reforma 1416, Bosques de las Lomas, Cuajimalpa de Morelos, Mexico City, 05120.
Zumma is registered as an Independent Investment Advisor in the Registry of Investment Advisors of the National Banking and Securities Commission, and therefore the Platform carries out the transactions and services permitted by the Securities Market Law and other applicable legal provisions.
Considering that the Services are provided through the Platform, by contracting any Service you are giving your consent for Zumma to collect the geolocation of the device through which you carry out any transaction with Zumma. Likewise, by using the Platform you give your consent for Zumma to record your voice and image in real time, through authorized mechanisms, and to store them in your file.
For any matter related to these Terms and Conditions, Zumma makes the following contact email address available to you: hola@zummafinancial.com
Users are responsible for acquiring and updating the compatible hardware or devices necessary to access and use the Services and/or the Platform. Zumma does not guarantee that the Services, or any part thereof, will work with any hardware or device. The Services may be subject to malfunctions or delays inherent to computer incompatibilities and interaction with other electronic communications.
Although the contractual relationship relating to the Services as a whole is established solely between Zumma and Users, Users acknowledge and accept that, when this Platform has been made available to them through a digital platform or store such as “App Store,” “Google Play,” and/or any other similar platform, the company that owns or licenses such platform may require compliance with these Terms and Conditions as a third-party beneficiary.
Zumma reserves the right to request additional documentation and/or information at any time, as well as to use any technology that allows it to corroborate the information provided by you, which you hereby declare to be truthful in its entirety. In the event that a User’s information cannot be confirmed or validated through the Platform or any other agreed means of communication, Zumma may temporarily or permanently deny Services to such User.
Zumma reserves the right to modify the content of the Platform and these Terms and Conditions at any time, with notice to users of such modification being sufficient. Continued use of the Services, as well as access to and/or use of the Platform, will constitute full acceptance of the new Terms and Conditions by the User.
If you do not agree with the notified modification, you must inform Zumma and cease using the Services, with such notice serving as a termination of the relationship between the parties; in such case, you agree to withdraw your securities or cash under the terms established for such purposes in the Agreement you enter into with Zumma.
The Platform may occasionally be unavailable due to technical difficulties, internet failures, or any other circumstance beyond Zumma’s control, and Zumma is not responsible for such failures or communication delays. If you are unable to access the Platform or carry out any transaction through it, you must contact the Zumma team through the contact methods described in these Terms and Conditions.
To ensure the best possible level of service, Zumma reserves the right to interrupt the Service for maintenance work, system updates, or any other changes, duly informing Users.
Within the limits of the law, Zumma may also decide to suspend or completely cancel the Service. If the Service is cancelled, Zumma will cooperate with Users to allow them to withdraw Personal Data or information in accordance with applicable law.
Zumma reserves the right to transfer, assign, novate, or subcontract any of the rights or obligations established under these Terms and Conditions, taking into account the legitimate interests of Users. Users may not assign or transfer their rights or obligations under these Terms and Conditions in any way, except with Zumma’s prior written permission.
Conditions of Use
By using this Platform, Users confirm that they meet the following requirements:
- they have sufficient age and legal capacity, in accordance with applicable legislation, to be able to bind themselves under these Terms and Conditions; - they fall into the category of Consumers under section I of article 2 of the Federal Consumer Protection Law; - they are not located in a country subject to an embargo decreed by the U.S. Government or that has been designated by the U.S. Government as a country “that supports terrorism”; - they are not included on any list of prohibited or restricted parties prepared by the U.S. Government, the United Nations Organization, or those published by the Mexican Government. - the origin and destination of the resources related to the contractual relationship with Zumma will be lawful and will not contravene the provisions of Mexican regulations and legislation, including but not limited to the Federal Criminal Code, the Criminal Code for each of the federal entities of Mexico, and the Federal Law for the Prevention and Identification of Transactions with Illegally-Obtained Resources.
Account Registration
To use the Service, Users must register or create a User account on the Platform, following the instructions described therein and providing all the data or information required completely and truthfully. If they fail to do so, the Services will not be available.
Users are responsible for safeguarding their access credentials with guarantees of confidentiality and security. For this reason, Users must also choose passwords that meet the highest strength standards permitted by this Platform. Zumma will at no time be responsible for improper access to the User’s account, or the use made of such account, unless it is due to causes directly and strictly attributable to Zumma, which must be determined by a final and unappealable ruling (not subject to any appeal or proceeding to overturn such ruling).
Upon registering, Users agree to assume full responsibility for all activities that take place under their username and password. The information and instructions that you transmit or communicate to Zumma using the access credentials will have full evidentiary value and legal force to prove the transaction carried out, its amount, its nature, and the characteristics and scope of your instructions.
Users must immediately and unambiguously inform Zumma, using the contact information indicated in this document, if they believe their personal information, including but not limited to User accounts, access credentials, or personal data, has been compromised, improperly disclosed, or stolen, without Zumma bearing any responsibility, subject to the provisions of these Terms and Conditions and applicable law.
Account Cancellation
Users may cancel their accounts and stop using the Services at any time as follows:
- Using the tools provided on this Platform to cancel the account. - Directly contacting Zumma through the contact information provided in this document.
Users agree that Zumma may NOT issue refunds of any kind of payments.
Account Suspension and Deletion
Zumma reserves the right, at its sole discretion, to suspend or delete User accounts at any time and without prior notice if it considers them inappropriate, offensive, or in breach of these Terms and Conditions.
The suspension or deletion of User accounts will not entitle Users to demand any compensation, damages, or refund.
The suspension or deletion of accounts due to causes attributable to the User will not exempt such User from paying the fees or prices owed to the Platform.
Services
Users may contract, through the Platform, the Services offered by Zumma, for which they must follow the corresponding instructions on their device and provide the information and documentation required by Zumma, which shall be entitled to carry out any type of validation through the means necessary. The electronic methods used to obtain the User’s express consent for contracting the Services shall constitute a simple electronic signature, for all applicable legal purposes.
Users acknowledge that, since Zumma is an Independent Investment Advisor under the Securities Market Law, it habitually and professionally provides, among others, the following services, subject to the provisions of the respective services agreement and Zumma’s Investment Services Guide:
1. Investment advisory, which consists of providing personalized and individualized recommendations or advice to a client, suggesting investment decisions regarding one or more financial products, and 2. Investment management, which consists of making investment decisions on behalf of clients through account management by Zumma, under brokerage intermediation agreements, in order to rebalance the personalized portfolios recommended to the client.
For the provision of the above Services, the User must carefully read the terms of the respective services agreement, as well as Zumma’s Investment Services Guide, and provide accurate information for profiling as a client of these Services; it being understood that Zumma does not guarantee, and will not guarantee, any present or future return. Likewise, the User acknowledges that the management of investments requires the services of third parties such as brokerage firms or intermediaries, domestic or foreign, so the User must enter into the necessary legal acts so that Zumma may provide such Services; it being understood that Zumma is not responsible for the acts carried out directly by such third parties.
Additionally, through the Platform, Zumma offers a personal finance product where Users can record their income and expenses, as well as budgeted amounts, to better understand their finances and provide Users with certain information to help meet their goals, without Zumma guaranteeing at any time the achievement of such goals or any economic benefit for the User.
Additionally, Zumma generates tax receipts or invoices corresponding to receipts uploaded by the User, on behalf of and in the name of the User, upon the User’s prior acceptance of these Terms. To provide the Service, Zumma may generate the corresponding invoice through the electronic billing portal of the merchant corresponding to each receipt or proof of purchase uploaded to the Site by the User, or, where applicable, may contact the merchant by telephone or email to generate the corresponding invoice on behalf of and in the name of the User. The User must verify and/or modify their billing information, if necessary, prior to uploading photographs of the receipts, since once an invoice has been issued, it will not be reissued.
Likewise, the User consents that Zumma cannot guarantee that an invoice will be generated for each receipt or proof of purchase, as there may be circumstances beyond Zumma’s control that prevent successful invoicing. Such circumstances include, without limitation: (i) any error in the issuance of the corresponding invoice made by the merchant, (ii) any computer failure or suspension of the billing service on the merchant’s electronic portal, (iii) any error, failure, or impediment in communication by telephone or email with the merchant, (iv) the expiration of the time allowed to generate the invoice, and (v) any inability to generate the invoice for reasons beyond Zumma’s control. In such cases, the User will be informed via WhatsApp or email of the reason why any receipt or proof of purchase was not successfully invoiced.
Zumma offers a referral program that provides a 50% discount for one month to the person who refers the product as well as to the person who downloads the product. This discount is limited to subscriptions under $1,000 Mexican pesos and is subject to the referred person paying for a Zumma subscription upon downloading the application.
For the provision of certain Services, provided that applicable legislation so permits and in compliance with Zumma’s internal policies and guidelines, Zumma may make use of artificial intelligence tools (including the use of chatbots), whether developed internally or externally, a situation that is acknowledged and accepted by the User upon contracting the Services.
If the User maintains any resources within the Platform, the User may dispose of them, provided they are in compliance with the obligations assumed under these Terms and Conditions, as well as under the corresponding services agreement.
Content on the Platform
Unless otherwise specified or clearly identifiable, all content available on this Platform is the property of Zumma or is provided by Zumma, its licensors, or third parties with a legal relationship with Zumma.
Zumma undertakes to act with the utmost diligence to ensure that the content provided on this Platform does not infringe any legal provision or violate the rights of third parties. If the content provided infringes any legal provision or violates the rights of third parties, Users are required to report such complaints using the contact information provided in this document, without prejudice to the legal prerogatives available to Users to enforce their rights.
Rights and Intellectual Property Relating to the Content on This Platform
Zumma reserves all intellectual property rights over all content on the Platform and/or derived from the Services. All registered trademarks, whether word or graphic marks, and any other trademarks, trade names, service marks, word signs, illustrations, images, or logos appearing in connection with this Platform are and will remain the exclusive property of Zumma or its licensors and are protected by applicable trademark laws and related international treaties.
Accordingly, Users may not use such content in ways that are not necessary or implicit in the proper use of the Platform and the Services. In particular, but without limitation, Users may not copy, download, share (beyond the limits established below), modify, translate, transform, publish, transmit, sell, sublicense, edit, transfer, assign to third parties, or create derivative works from the content available on this Platform, nor allow any third party to do so through the User or their device, even without the User’s knowledge.
In cases expressly established on this Platform, the User may download, copy, and/or share any content available through this Platform solely for personal, non-commercial use and provided that copyright acknowledgments and all other acknowledgments requested by Zumma are properly made.
Limitations or exceptions to copyright established by law will not be affected.
Through this Platform, Users may access external resources provided by third parties. Users acknowledge and accept that Zumma has no control over such resources and is therefore not responsible for their content and availability.
The terms applicable to resources provided by third parties, including those applicable to any potential grant of rights over the content, derive from the terms and conditions of such third parties or, in their absence, from applicable law.
This Platform and the Services may only be used within the scope for which they are provided, in accordance with these Terms and Conditions and applicable law.
Users are solely responsible for ensuring that their use of this Platform and/or the Services does not infringe any law or regulation or violate the rights of third parties.
Accordingly, Zumma reserves the right to take appropriate measures to protect its legitimate interests, including denying Users access to this Platform or the Services, terminating agreements, and reporting inappropriate conduct carried out through this Platform or the Services to the competent authorities, such as judicial or administrative authorities, whenever Users engage in or are suspected of having engaged in any of the following activities:
- Violations of laws, regulations, and/or these Terms and Conditions; - Violation of third-party rights; - Causing significant harm to Zumma’s legitimate interests; - Offending Zumma or any third party.
Indemnification
You agree to indemnify and hold harmless Zumma and its related parties, suppliers, and/or any third party related to it, from any loss, liability, expense, and, in general, all damages (including reimbursement of reasonable attorneys’ and/or advisors’ fees) arising from any third-party claim alleging that the information or transactions the User carries out on the Platform and/or the Services infringe third-party rights or applicable law, as well as any claims arising from a breach of these Terms and Conditions.
Privacy of Information
Zumma informs you that all personal data provided will be processed in accordance with the provisions of the Privacy Notice, as well as applicable legislation and regulations on the matter.
Cookies and Web Beacons
Users agree to receive the Cookies and/or Web Beacons transmitted by Zumma’s servers to obtain personal information such as the following: (i) the type of browser and operating system you use; (ii) the web pages you visit before and after entering the Platform; (iii) the links you follow and time spent on the Platform; (iv) your IP address; (v) the place from which you visit the Platform and browsing statistics. These Cookies and other technologies can be disabled. You can look for information about well-known browsers and find out how to adjust Cookie preferences on the website of each browser used.
Cookies are text files that are automatically downloaded and stored on the user’s mobile device when browsing a specific web page, which allow the Internet server to remember certain data about this user, including their purchasing preferences for viewing pages on that server, name, and password.
For their part, Web Beacons are images inserted into a web page or email, which can be used to monitor a visitor’s behavior, such as storing information about the user’s IP address, the duration of interaction time on that page, and the type of browser used, among others.
Applicable Law and Jurisdiction
For the interpretation, compliance, and execution of these Terms and Conditions, you agree that the Federal laws of the United Mexican States will apply and that the competent courts will be those of Mexico City, expressly waiving any other venue or jurisdiction that may correspond to the parties by reason of their present or future domiciles, or for any other reason.
Last updated: July 2024