Version 1. Document slot: agreement.
This Account and Cardholder Agreement governs your Gether card and every purchase you make with it: how the card is issued, what you agree to before it is activated, how a purchase is paid and backed, what it costs, how and when you pay it back, what happens if you do not, and how a problem with a purchase is handled.
This version is dated September 26, 2026. You accept it in the app before your card is activated, and your acceptance is recorded with this version's label and the checksum of this exact text. Read every Part before you accept.
In this Agreement "Gether", "we" and "us" mean Gether, the operator of the Service, and "you" means the person who holds the account. Words with capitals have the meanings given in the Gether Terms of Service, Part 24. Names written in capital letters with underscores are Gether's published settings; their values are in the Gether Fee Schedule.
Part 1. What this Agreement is, and which document governs
1.1 This Agreement supplements the Gether Terms of Service, and the Terms of Service are part of it. Where this Agreement and the Terms of Service say different things about your card or a card purchase, this Agreement governs; on every other subject the Terms of Service govern. The Gether Fee Schedule governs every figure.
1.2 Gether may publish further terms for card purchases on the Gether Credit Protocol. Where it does, they are part of this Agreement, you accept them before your card is activated, and they govern a Protocol purchase where they and this Agreement differ.
1.3 Gether is not a bank. Your Gether account is not a deposit account and is not insured by any government agency or deposit insurance scheme.
Part 2. The card program and its partners
2.1 Your card is issued through Gether's card program partner Apocor and the card issuer named on your card. Gether runs your account and decides, or sizes the budget for, each purchase; the card program partner and the issuer run the card itself. Card use is also governed by the card program's own terms, presented to you when your card is issued, and by the operating rules of the card network the card runs on. Those rules can change without Gether's agreement, and Gether may have to change the Service to stay inside them.
2.2 Identity verification for the card runs through a hosted flow provided by the card program partner. The documents and details you submit are collected and processed by the identity verification provider that partner uses. For a United States address, a taxpayer identification number may be required before a card is issued. The Privacy Policy describes what is collected and where it goes.
2.3 Gether may change card program partners, add a partner, or stop working with one. If a partner stops serving the program, your card can stop working with little or no notice, and Gether may have to close card accounts. Open Draws continue under this Agreement.
Part 3. Issuing and activating your card
3.1 Gether may issue a card to you once your identity verification is approved, your email address and phone number are verified, and you have accepted the documents in force for your account. Gether may decline to issue a card, and issues a card in the form the app offers you.
3.2 Before your card is activated, the app shows you a disclosure of how card purchases work: the fee, the period, the sale of assets set apart for the purchase, what happens if you do not pay, and the late charge. Activating your card, or making a card purchase after you have been shown that disclosure, is your acceptance of this Agreement and of any further terms published under 1.2. The disclosure restates this Agreement and does not add to or vary it; if they differ, this Agreement governs and Gether corrects the disclosure.
3.3 You must protect your card, its number and its security code, and the credentials to your Gether account and your devices. Do not share them. Tell Gether right away, through the app or the contact in Part 14, about a loss, a theft, or a use you did not authorize.
Part 4. Spending power and the authorization of a purchase
4.1 Your spending power is worked out from the Admitted Assets in your account, as the Terms of Service, Part 5 describe: each asset's value at a Money-Grade Price times its Class Cap, less the spend of every open Draw, less every authorization hold. The Class Caps are published in the Fee Schedule. No purchase is ever more than half the value set apart for it.
4.2 Every card authorization passes the ordinary card checks first: the card's status, your account's status, your identity and compliance status, your email and phone verification, the currency and the amount, your spend controls, the fraud and risk controls, and any operator gate. Then Gether applies the Protocol's own checks: that you have accepted the documents in force; that the purchase is within your spending power; that one Admitted Asset can be set apart for the whole purchase; that the purchase would not take your UNHEDGED Draws over the per-member cap in the Fee Schedule; that the Protocol Pool can pay it; and that your open Draws are not already in margin call or being sold to cover.
4.3 Gether may decline a purchase for any of those reasons, for a fraud or risk signal, on an instruction from the issuer or another partner, on a fault in the Service, or because the Protocol or the Protocol Pool is switched off or paused. The reason shown to you in the app is a plain sentence chosen from a fixed set. Gether does not promise that any purchase will be approved.
4.4 Where the card program has Gether set a spending budget with the issuer ahead of time, Gether sizes that budget from your spending power and funds it from the Protocol Pool, and the issuer decides each purchase against it. The inputs to the decision are the same.
4.5 You may set spend controls on your card in the app, and you may freeze your card at any time. A frozen card makes no new purchases. Freezing is never blocked by anything else in this Agreement.
Part 5. A purchase: the Draw, the Earmark, the sale and the hedge
5.1 When a purchase is authorized, a Draw opens and the Protocol Pool, which is Gether's own USDC, pays it. From that moment you owe Gether the spend. Gether sets apart units of one of your Admitted Assets worth the spend divided by the Class Cap (the Earmark) and holds them in a Gether-controlled account until the Draw closes. The Terms of Service, Part 7 govern the Draw and the Earmark.
5.2 By accepting this Agreement you give Gether the standing instruction in the Terms of Service, Part 8: to sell the whole Earmark on the Venue, repay the Protocol Pool from the proceeds, open an Exposure Position with the remainder so that you keep price exposure equal to the value of the Earmark when the Draw opened, record a Receipt in your holdings, and buy the asset back and return the units when you repay. The instruction is given once, when you accept, because a card purchase creates the obligation with no confirmation screen. The sale is a sale of your assets. A small purchase, or one Gether cannot hedge, rests UNHEDGED: the Earmark stays as the asset, with no sale and no Exposure Position, and every other term still applies.
5.3 The Exposure Position is a derivative, not the asset. It carries no dividend, no vote and no other right of a holder of the asset, its value can fall to zero, and it carries the Venue risks the Terms of Service, Part 8 describe. The Receipt is a record of a claim against Gether; it is not the asset, not a security, and cannot be moved, sold or pledged.
5.4 A Draw is not a revolving balance and carries no interest. Each Draw has its own period, due time and hold end.
Part 6. What a purchase costs
6.1 Every charge Gether can make is in the Fee Schedule, and Gether charges no fee that is not in it. No figure appears in this Agreement, so that a number here can never disagree with the number Gether applies. The Fee Schedule in force when a Draw opens governs that Draw.
| Charge | Setting | Where it is published |
|---|---|---|
| Upfront Fee, charged once when the Draw opens | GCP_UPFRONT_FEE_BPS, GCP_UPFRONT_FEE_MIN_USD | Fee Schedule, Part 1 |
| Exposure Cost Estimate, collected when the Draw opens and trued up at close | GCP_FUNDING_ESTIMATE_DAYS, GCP_FUNDING_TRAILING_HOURS, GCP_VENUE_FEE_ESTIMATE_BPS | Fee Schedule, Part 1 |
| Late charge (the Penalty), from the due time on the unpaid spend | GCP_PENALTY_MONTHLY_RATE_BPS | Fee Schedule, Part 1 |
| Liquidation Fee, from the proceeds of a sale to cover | GCP_LIQUIDATION_FEE_BPS | Fee Schedule, Part 1 |
| The period, the hold and the clocks | GCP_PERIOD_DAYS, GCP_HOLD_DAYS | Fee Schedule, Part 2 |
| Class Caps and the backing multiple | gcp.admission_cap_bps and GCP_MAX_LTV_BPS | Fee Schedule, Part 3 |
| Margin call triggers | GCP_MARGIN_CALL_RETENTION_BPS, GCP_MIN_COVERAGE_RATIO, GCP_UNHEDGED_MIN_COVERAGE_RATIO | Fee Schedule, Part 4 |
| Hedging floors and the UNHEDGED cap | GCP_MIN_SPEND_TO_HEDGE_USD, GCP_MAX_UNHEDGED_PER_MEMBER_USD | Fee Schedule, Part 5 |
| Venue costs passed through | the Venue's own rates | Fee Schedule, Part 6 |
| Autopay and notices | GCP_AUTOPAY_DEFAULT_ON, GCP_AUTOPAY_RETRY_DAYS, GCP_DUE_REMINDER_LEAD_DAYS, GCP_SALE_NOTICE_LEAD_DAYS | Fee Schedule, Part 7 |
| Card replacement, network costs and the other account charges | card replacement fee, fees.network_cost_recovery_mode, fees.network_fee_max_usd | Fee Schedule, Part 8 |
6.2 The Upfront Fee is charged to your USDC balance when the Draw opens; if the balance cannot cover it, it is collected when the Draw closes. It is not refunded on early repayment, and is refunded only when the purchase is reversed before completion and the Draw closes as failed. The Exposure Cost Estimate is an estimate, shown on the Draw with that word beside it, and is trued up at close as the Terms of Service, Part 9 describe.
6.3 There is no charge for paying a Draw back, early or on time, no charge for the return of your assets, and no charge for a statement, a notice or a record. Costs the Venue, a bridge or a network impose are taken in kind and are not Gether's charges; Gether does not mark them up.
Part 7. The period, repayment and autopay
7.1 Each Draw has a period of GCP_PERIOD_DAYS days from the moment it opened. Nothing accrues inside the period. The due time is its end, shown in the app in your device's time zone.
7.2 You repay from your USDC balance, any amount at any time, through the repayment door in the app. A payment goes first to the late charge accrued and unpaid, then to the spend. A payment is final when recorded. The rounding rules for USDC are in the Terms of Service, Part 10.
7.3 Autopay is on for every member unless you turn it off in the app. With autopay on, Gether attempts to take the full amount owed at the due time and then once a day, for the number of days the Fee Schedule states, while the Draw stays open and unpaid. Autopay takes the full owed figure or nothing. You may turn autopay off and on in the app; doing so does not change the due time or the late charge.
7.4 A merchant refund, a reversal after completion, or a dispute you win on the transaction behind an open Draw is applied to what you owe on that Draw. The part above what you owe, and the whole refund on a closed Draw, is added to your balance as a refund in the ordinary way. A refund does not undo the sale of the Earmark; if it brings what you owe to zero, your assets are bought back at the price then available.
7.5 When a Draw is repaid, Gether buys the asset back and returns the units to your account as the Terms of Service, Part 11 describe. The number of units that returns can differ from the number set apart, and Gether does not promise that the same number returns.
Part 8. Past due, the hold, margin calls and the sale to cover
8.1 If a Draw is not repaid in full by its due time it is past due, and a late charge accrues on the unpaid spend from the due time at the rate fixed for the Draw when it opened and shown on it. The rate is simple, per 30 days, never on the late charge itself and never on a fee, and never above GCP_PENALTY_MONTHLY_RATE_BPS as published in the Fee Schedule. It is a rate per 30 days, not an annual rate.
8.2 After the due time the Draw enters hold. The hold ends GCP_HOLD_DAYS days after the due time, shown in the app as the sale date. You may still repay during hold. If the Draw is not repaid in full at the hold end, Gether sells to cover, and may do so without further notice to you on that day.
8.3 Gether calls a Draw before its hold end when the market moves against it, at the triggers published in the Fee Schedule, Part 4. A margin call is not an invitation to add margin. The only way to protect a Draw from a call is to repay it before the trigger is reached. Gether sends you a notice when a Draw is called and does not promise that the notice reaches you before the position is closed.
8.4 When a Draw is sold to cover, Gether closes your Exposure Position, or sells the units set apart on an UNHEDGED Draw, at the price then available, takes the Liquidation Fee from the proceeds, and applies the rest to the late charge, then the spend, then any fee still outstanding. A surplus is yours and is added to your USDC balance when it lands. If the proceeds are less than what you owe, nothing more is owed by you on that Draw, and Gether does not pursue you for the difference or set it off against your other balances. The Terms of Service, Part 12 govern the sale to cover in full.
8.5 A sale of your assets can have tax consequences for you. Gether does not give tax advice and does not withhold tax for you.
Part 9. Statements, notices and records
9.1 Your monthly statement is provided electronically in the app and includes a section for card purchases on the Protocol whenever a Draw opened, was charged, accrued a late charge, was paid, was held, was returned or was sold to cover in the month. Check your statements and your transaction list.
9.2 Gether sends you notices about your Draws in the app, by email, and by push notification where you have turned it on, as the Terms of Service, Part 13 list. A notice is information; a notice that does not reach you does not stop a clock or a sale. Keep the email address and the phone number on your account current.
9.3 For every Draw the app shows the record the Terms of Service, Part 13 describe. Gether's ledger governs if the app and the ledger differ, and Gether corrects the app.
Part 10. Errors, unauthorized purchases and disputes
10.1 If you think a purchase is wrong, or that you did not make it, tell Gether right away through the dispute door in the app or through the contact in Part 14. Gether records your dispute with the reason you give, investigates it, and tells you the outcome within the time the law that applies to your account requires. A dispute you open with Gether is decided by Gether: Gether does not file it with the card network for you, and no outside body reviews Gether's decision. A purchase found to be unauthorized is reversed and treated as a full refund of the Draw, including the Upfront Fee.
10.2 Your liability for an unauthorized purchase is governed by the law that applies to your account and by the card network's rules. Nothing in this Agreement reduces a protection the law gives you. Where the law gives you a procedure for reporting an error or an unauthorized transaction, limits what you can be held liable for, or requires Gether to credit you provisionally while it investigates, that law applies and this Part gives way to it.
10.3 While a dispute is open, the Draw's clocks keep running, its late charge keeps accruing and its Exposure Position stays open, unless Gether tells you in writing that it has paused them.
10.4 A complaint about a sale price, a fill, a funding charge, a call, a sale to cover or a return is a complaint to Gether under the Terms of Service, Part 14, not a card dispute.
Part 11. Lost or stolen cards, replacement and controls
11.1 Report a lost or stolen card right away in the app or through the contact in Part 14. Gether freezes the card. A replacement card, when sent, carries the card replacement fee published in the Fee Schedule, Part 8, taken from your balance when the replacement is sent.
11.2 You may freeze and unfreeze your card, set spend controls, and turn autopay off and on in the app. Some actions require a second confirmation from your device.
Part 12. Default
12.1 You are in default if you fail to repay a Draw by its due time, breach this Agreement or the Terms of Service, give Gether false information, or become subject to an insolvency proceeding. On default Gether may stop new purchases, freeze your card, and exercise its rights over the Earmark and the Exposure Position under Part 8. A Draw past its due time carries the late charge and runs to its hold end and the sale to cover whether or not Gether declares a default.
Part 13. Closing the card and the account, and changes
13.1 You may stop using the card at any time by turning it off, or by closing your account under the Terms of Service, Part 15. Doing so withdraws the standing instruction in Part 5 for future Draws. Open Draws are not affected: each must be repaid or will run to its hold end and the sale to cover. Closing completes when every Draw is closed.
13.2 Gether may freeze your card, suspend your account, close your account, or end your use of the Protocol on the grounds in the Terms of Service, Part 15. Death or incapacity is governed by the Terms of Service, Part 16.
13.3 This Agreement is registered as a document with a version label and the checksum of this exact text, and it changes only by a new version with a notice period, as the Terms of Service, Part 21 describe. Accepting one version is not acceptance of another. A change to a figure is a new version of the Fee Schedule and applies to new Draws only; a Draw keeps the figures in force when it opened.
13.4 The legal terms in the Terms of Service, Part 22 apply to this Agreement: the disclaimers, the limitation of liability, the indemnity, assignment, severability, force majeure and survival. This Agreement does not require arbitration, does not choose a court or a governing law, and does not ask you to give up any right. If you have a dispute with Gether, contact Gether first so that Gether can try to resolve it with you.
Part 14. Contact
14.1 Contact Gether through the support door in the app, or through the ways to reach us published on the support page of the Gether website. Notices from Gether to you are sent to the email address and the devices on your account.
End of the Gether Account and Cardholder Agreement, version 1.