Terms of service - The Money Lab

At a glance

These terms govern the relationship between The Money Lab and the schools and teachers who purchase licences. Students use the platform through their school’s account and are not parties to this agreement.

Key points: licences are annual, billed in advance, non-transferable to other schools, and non-auto-renewing without consent. The platform and all curriculum content are the intellectual property of Matthew Clement. You receive a licence to use it — not ownership.

Part 1 — Acceptance

Acceptance of these terms

By registering an account, purchasing a licence, or using The Money Lab platform, you (“the school” or “the teacher”) agree to be bound by these Terms of Service. If you are registering on behalf of a school or institution, you represent that you have authority to bind that institution to these terms.

If you do not agree to these terms, do not create an account or use the platform.

Part 2 — Description of the service

What The Money Lab provides

Subject to a valid licence, The Money Lab provides the following to subscribing schools:

Access to the student-facing financial literacy simulation (a browser-based HTML application delivering a 32-year, five-phase financial life simulation)
Access to the teacher dashboard for session management, live monitoring, event injection, class pacing, and debrief tools
Curriculum materials including lesson plans, student handouts, and teacher guides aligned to the subscribed plan
Bilingual support (English and Korean) for applicable regional configurations
Email-based customer support

Specific features available under each plan tier are described on the pricing page at theMoneyLab.online/pricing and in the licence confirmation email sent at the time of purchase.

Part 3 — Eligibility

Who these terms apply to

These terms apply to teachers and schools that register accounts and purchase or trial licences. Teachers may register individually or as representatives of their school.

Students access the platform through their school’s licence and do not directly enter into this agreement. By deploying The Money Lab to students, the subscribing school accepts responsibility for supervising student use in accordance with these terms and all applicable school policies, safeguarding requirements, and local regulations.

Students must use the simulation only in supervised classroom sessions or activities sanctioned by the subscribing school. The platform is not intended for unsupervised personal use by minors.

Part 4 — Pricing and billing

Pricing and billing

Plan	Standard annual price	Pilot preferred price	Included
Starter	USD $490 / year	USD $390 / year	Simulation access, teacher dashboard, core curriculum pack
School	USD $3,000 / year	USD $1,990 / year	All Starter features plus expanded curriculum, multi-teacher access, priority support

Billing terms

Licences are billed annually, in advance, on the date of first payment.
Payment is accepted via credit card or bank transfer, processed by Stripe.
Licences do not auto-renew without explicit consent. You will receive a renewal notice by email no fewer than 30 days before your licence expiry date. Renewal requires affirmative action (a new payment or written confirmation).
Prices shown are in USD. Where billing in other currencies is agreed in writing, the agreed rate applies for the confirmed term.

Pilot preferred pricing

Schools that join as pilot partners during the launch phase may qualify for pilot preferred pricing. Where pilot pricing has been agreed in writing, the pilot price is locked for a period of two years from the date of first invoice. After two years, standard pricing applies unless otherwise agreed.

Part 5 — Refund policy

Refund policy

We want schools to feel confident trying The Money Lab. Our refund policy is as follows:

Within 30 days of first invoice: If you are not satisfied with the platform, you may request a pro-rata refund for the unused portion of your annual licence. Email [email protected] with your account details and reason for cancellation.
After 30 days: No refunds are issued. Licences cancelled after 30 days remain active until the end of the paid term but are not refunded.
Exceptions: If the platform is materially non-functional for a period exceeding 5 consecutive business days due to a fault on our part, you may request a pro-rata service credit for the affected period. This does not apply to scheduled maintenance or force majeure events.

Part 6 — Intellectual property

Intellectual property

The Money Lab platform — including the simulation software, teacher dashboard, all curriculum materials, lesson plans, student handouts, scenario content, financial events, brand assets, and documentation — is the sole intellectual property of Matthew Clement.

By purchasing a licence, the subscribing school receives a limited, non-exclusive, non-transferable licence to use the platform for classroom instruction at the licensed school only. This is a licence to use, not a transfer of ownership.

Nothing in these terms grants the school any ownership of, or perpetual rights to, The Money Lab platform or its content.

Part 7 — Permitted use

Permitted use

A licence permits the subscribing school to:

Deploy the simulation to enrolled students at the licensed school for classroom instruction
Use the teacher dashboard to manage, monitor, and debrief class sessions
Distribute the provided curriculum materials to students and teachers at the licensed school
Reproduce curriculum handouts for student use in licensed classes

Part 8 — Prohibited use

Prohibited use

The following uses are expressly prohibited:

Sharing, distributing, or sublicensing access to the simulation or teacher dashboard to schools, institutions, or individuals outside the licensed school
Reverse engineering, decompiling, or attempting to extract the source code of the simulation
Redistributing the simulation HTML file through any channel, including school networks, app stores, or file-sharing services
Using the platform or its content to develop a competing product or service
Removing, modifying, or obscuring any copyright, trademark, or attribution notice
Using the platform for commercial purposes other than licensed classroom instruction (e.g., charging students or parents a fee to access it)
Circumventing regional content configurations or presenting the platform as affiliated with, endorsed by, or co-branded with any institution without written agreement
Using the platform in a way that violates applicable laws, regulations, or the school’s own safeguarding policies

Breach of these prohibitions may result in immediate licence termination without refund and may expose the school to legal liability.

Part 9 — Content moderation and supervision

Content moderation and teacher responsibility

The Money Lab contains simulated life events — including financial shocks, health events, relationship changes, and employment scenarios — designed to create realistic decision-making pressure. These scenarios are developed to be educationally appropriate and age-sensitive, but they involve adult financial situations (mortgages, insurance, divorce, redundancy) that teachers should contextualise for their class.

Teachers are responsible for supervising classroom use and for determining whether any specific scenario content is appropriate for their students in their context. Teachers may request that specific scenario types be disabled for their class by contacting [email protected]. We will action such requests within 5 business days.

If a student raises a concern during a session that requires a safeguarding response, the teacher and school’s standard safeguarding procedures take precedence over the simulation.

Part 10 — Limitation of liability

Limitation of liability

Note: This section contains standard commercial limitation of liability language. It is recommended that schools review this section with their legal counsel before signing up, particularly if institutional procurement policies require specific contractual protections.

No guarantee of educational outcomes

The Money Lab is a simulation tool designed to support financial literacy education. We make no guarantee or warranty that use of the platform will result in specific learning outcomes, grade improvements, curriculum compliance certifications, or any other educational result.

Service availability

We will use reasonable efforts to maintain platform availability but do not guarantee uninterrupted service. Planned maintenance will be communicated in advance where possible. We are not liable for service disruptions caused by third-party infrastructure providers (including Vercel, Supabase, or internet service providers), force majeure events, or factors outside our reasonable control.

Limitation

To the maximum extent permitted by applicable law, The Money Lab’s total liability to a subscribing school for any claim arising out of or related to these terms or the use of the platform shall not exceed the amount paid by the school for the current annual licence term.

In no event shall The Money Lab be liable for indirect, incidental, special, consequential, or punitive damages, including lost profits, loss of data, or loss of goodwill, even if advised of the possibility of such damages.

Indemnification

The subscribing school agrees to indemnify and hold harmless Matthew Clement and The Money Lab from any claims, losses, or damages arising from the school’s breach of these terms, misuse of the platform, or failure to comply with applicable laws in the school’s jurisdiction.

Part 11 — Termination

Termination

Termination by the school

The subscribing school may cancel its licence at any time by providing written notice to [email protected]. Cancellation takes effect at the end of the current paid billing period. Refunds are subject to the refund policy in Part 5.

Termination by The Money Lab

We may suspend or terminate a school’s licence immediately, without notice, in the event of:

Material breach of these terms (including any prohibited use in Part 8)
Non-payment of licence fees after 30 days’ notice
Use of the platform in a way that causes reputational, legal, or operational harm to The Money Lab
A court order or regulatory requirement

Where termination is due to our error or platform failure, any unexpired portion of the licence fee will be refunded pro-rata.

Effect of termination

Upon termination, the school’s right to use the platform ceases immediately. Any downloaded curriculum materials may continue to be used for classroom instruction under the terms of Part 7 until the end of the current academic year, after which they must be deleted or returned.

Part 12 — Governing law

Governing law and disputes

Matthew — action required before publishing. This section requires your decision. You are a Canadian citizen operating from Seoul, Korea, with customers primarily in Korea, Australia, and Canada. The options and their trade-offs are noted below. This clause should be reviewed by a lawyer before the site goes live.

These terms are governed by the laws of the Republic of Korea, without regard to conflict of law principles. Any dispute arising from or relating to these terms that cannot be resolved by good-faith negotiation will be submitted to the exclusive jurisdiction of the courts of Seoul, Republic of Korea.

Note on jurisdiction (for Matthew’s review)

Korean law is the primary choice because The Money Lab is operated from Seoul, the operator is a Korean resident, and the strongest early market is Korean schools. However, Australian and Canadian schools may seek to invoke their own consumer and contract law protections, which in some cases cannot be contractually excluded. A lawyer in your primary market should review whether a Korean governing law clause is enforceable and appropriate for your customer base. Alternatives considered: Canadian (Ontario) law — easier for your citizenship, but less protective of your Seoul-based operations. Australian law — not appropriate as neither you nor your primary operations are Australian. A “courts of [home country of school]” approach — maximally enforceable across markets, but exposes you to litigation in multiple jurisdictions.

Part 13 — Changes to these terms

Changes to these terms

We may update these Terms of Service from time to time. When we make material changes, we will notify account holders by email at least 30 days before the changes take effect. The “Last updated” date at the top of this page reflects the most recent revision.

Your continued use of the platform after a change takes effect constitutes acceptance of the updated terms. If you do not agree to a material change, you may cancel your licence under the terms of Part 11 before the change takes effect.

Part 14 — Contact

Questions about these terms

For any questions about these Terms of Service, billing, licences, or permitted use, contact:

Matthew Clement
The Money Lab
Seoul, Republic of Korea
[email protected]

Part 15 — General

General provisions

Entire agreement

These Terms of Service, together with any written licence agreement or pilot agreement signed by both parties, constitute the entire agreement between the school and The Money Lab. Any prior oral or written representations not included in these terms are superseded.

Severability

If any provision of these terms is found to be unenforceable by a court of competent jurisdiction, that provision shall be limited or eliminated to the minimum extent necessary, and the remaining provisions shall remain in full force.

No waiver

Our failure to enforce any right or provision of these terms at any time does not constitute a waiver of that right or provision.

Assignment

Schools may not assign these terms or any licence rights to another institution without prior written consent. The Money Lab may assign these terms in connection with a merger, acquisition, or sale of substantially all assets.