Terms

Plain English, because terms nobody reads protect nobody. Using the site or opening a plan means these apply to you.

1. What we provide

Hoodrich is software that lets you borrow against tokenized shares in order to buy a gift card, and repay in four instalments. We are not a bank, a broker, a lender of record, or a licensed financial institution, and we do not provide financial advice.

2. Eligibility

You must be of legal age where you live and legally able to enter a credit arrangement. You must not be located in, or acting on behalf of anyone in, a jurisdiction where this service is prohibited. You are responsible for knowing which one you are in.

3. Opening a plan

When you open a plan you agree to lock the stated collateral and to pay the stated total in four instalments. The total, the fee, the schedule and the required collateral are all shown before you confirm. Confirming is what creates the obligation; nothing is charged before that.

4. Fees

A flat 4% of the card's face value, minimum $1, included in the total shown at checkout. No interest, no late fees, no early settlement charge.

5. Default

If an instalment is more than three days late, enough of the collateral is taken to settle what is still owed and the plan closes. You keep the gift card, and whatever collateral is left over after the debt is covered comes back to you.

The amount taken is the outstanding balance plus 15%, converted at the collateral's value when the plan was activated. The 15% exists because the shares have to be sold to recover the money and the price will not be the same on the way out.

6. Gift cards

Cards are issued by their brands and supplied through a third-party reseller. We are not affiliated with, endorsed by or partnered with any of them. Once a code is delivered it cannot be cancelled, refunded or replaced by us, and any problem with redeeming it is between you and the issuer.

7. Tokenized assets

Tokenized shares are issued by third parties and carry their own risks, including issuer failure and loss of price tracking. We make no representation about them and do not guarantee their value, liquidity or redeemability.

8. The software

The contracts are provided as-is. They have been tested but not audited. Smart contracts can contain defects, and a defect can cause loss of funds. Do not lock more than you can afford to lose.

9. Limitation of liability

To the extent the law allows, we are not liable for indirect or consequential loss, for losses caused by chain outages, price feed failures, third-party providers, or by your own failure to pay on time.

10. Changes

These terms may change. The version in force is the one published here when your plan opens, and a change does not alter the terms of a plan already running.