Article 1 (Purpose)

These terms and conditions aim to define the conditions and procedures for using the WeCover Parametric Insurance Solution Service (hereinafter referred to as 'Service') provided by Wecover Platforms., LLC. (hereinafter referred to as 'Company'), and the rights, obligations, and responsibilities of the members (hereinafter referred to as 'Members') using the Service, as well as other necessary matters.

Article 2 (Effectiveness and Modification of Terms)

The contents of these terms become effective upon their announcement on the Service's website.

The Company may modify the terms for significant reasons such as changes in laws or the Service, within the scope not violating related laws, and the modified terms become effective upon their announcement on the Service's website from the designated date.

Members who do not agree with the modified terms may request to withdraw their membership. If Members continue to use the Service after 7 days from the effectiveness date of the modified terms, they are considered to have agreed to the changes.

Article 3 (Provision and Change of Service)

The Company provides the following services:

Cloud services and real-time monitoring services of PG companies.

Solutions for fast compensation payments by parametric insurance in case of IT service disruptions.

The Company may change the provided services due to operational or technical needs.

Article 4 (Service Fees)

The services provided by the Company are basically charged.

Details related to the service fees are determined separately by the Company.

Article 5 (Member's Obligations)

Members must provide information requested by the Company based on facts.

Members must comply with the matters stipulated in these terms and conditions, other regulations set by the Company, notices, and other matters notified by the Company.

Article 6 (Disclaimer)

The Company is exempt from responsibility for providing the service in cases where it is impossible due to reasons beyond the Company's control, such as natural disasters, war, terror, strikes, government orders, or changes in laws.

The Company is not responsible for service disruptions caused by the Member's fault.

Article 7 (Jurisdiction)

Disputes arising in relation to these terms and conditions and the Company's service shall be under the exclusive jurisdiction of the court located in the Company's headquarters.

These terms and conditions will be implemented from February 22, 2024. By agreeing to these terms, the provisions constitute a legal agreement between the user and the Company. If the user does not agree to these or updated terms, they must cease using the service and delete their account. The Company reserves the right to modify these terms as necessary, and the modified terms will be posted on the Company's website or directly notified to the user. Continued use of the service after the implementation of changes constitutes agreement to the modified terms.