Compliance & Legal

Woolf Ventures LLC operates as a wholesale distributor of legal consumer products in the state of Texas. All hemp-derived products distributed through our platform are sold in compliance with applicable federal and state law as of the date of this notice. We are committed to operating transparently and within the bounds of all current regulations.

Federal Law — 2018 Farm Bill

The Agriculture Improvement Act of 2018 (commonly known as the "Farm Bill") federally legalized hemp and hemp-derived products containing no more than 0.3% Delta-9 THC by dry weight. This legislation removed hemp from the Controlled Substances Act and established a legal framework for the production, distribution, and sale of hemp-derived products nationwide.

All hemp-derived beverage and consumable products available through Woolf Ventures comply with this federal threshold. Products are sourced exclusively from brands that provide third-party lab testing and Certificates of Analysis (COAs) confirming legal THC levels.

Texas State Law — HB 1325

Texas House Bill 1325, signed into law on June 10, 2019, aligns Texas state law with the federal Farm Bill. HB 1325 explicitly legalizes the production, manufacture, retail sale, and inspection of industrial hemp crops and products containing no more than 0.3% Delta-9 THC.

Under HB 1325, consumable hemp products — including hemp-derived beverages, edibles, and extracts — are legal for distribution and sale to retailers in the state of Texas as of the date of this notice. Woolf Ventures operates within this legal framework as a wholesale distributor to retail establishments.

Distributor Disclaimer

Woolf Ventures LLC operates solely as a wholesale distributor. We do not manufacture, formulate, or process any hemp-derived products. All products are sourced from third-party brands and manufacturers who are independently responsible for:

• Product formulation and compliance with federal and state THC limits
• Third-party laboratory testing and Certificates of Analysis (COAs)
• Accurate product labeling and packaging
• Good Manufacturing Practice (GMP) compliance where applicable
• Compliance with all applicable FDA, USDA, and DSHS regulations

We prioritize sourcing from brands that maintain current registrations with the Texas Department of State Health Services (DSHS) consumable hemp product program where applicable. Woolf Ventures makes no independent claims regarding the therapeutic, medical, or health benefits of any products distributed through our platform. Product descriptions and claims are provided by the respective manufacturers and brands.

Retailer & Buyer Responsibility

By placing orders through the Woolf Ventures platform, retail buyers acknowledge and agree that:

• They are authorized representatives of a licensed retail business
• They are responsible for verifying that all products comply with local ordinances and regulations in their specific jurisdiction
• They will only sell hemp-derived products to consumers who meet all applicable federal, state, and local age requirements
• They will maintain proper product storage and display in accordance with any applicable regulations
• They understand that the regulatory landscape for hemp-derived products is evolving, and they are responsible for staying informed of any changes that may affect their ability to sell specific products

Retail buyers agree to indemnify and hold harmless Woolf Ventures LLC, its owners, officers, and agents from any claims, damages, losses, or liabilities arising from the resale of products purchased through this platform, including but not limited to claims related to local regulatory non-compliance, improper product storage, or sales to consumers who do not meet applicable age requirements.

Payment Terms & Conditions

All orders placed through the Woolf Ventures platform are subject to the following payment terms:

• Payment is due upon delivery unless alternate terms (e.g., Net 15, Net 30) have been agreed to in writing by Woolf Ventures LLC
• Accepted payment methods include cash, check, ACH transfer, and other methods as communicated at the time of order
• Orders may be subject to a minimum order amount as displayed on the platform at the time of purchase
• Woolf Ventures reserves the right to modify pricing, payment terms, and minimum order requirements at any time with reasonable notice to buyers

Retention of Title

Title to and ownership of all goods delivered by Woolf Ventures LLC does not pass to the Buyer until payment has been received in full and all funds have cleared.

Until such time as title passes, the Buyer holds the goods as bailee for Woolf Ventures LLC. In the event of non-payment, Woolf Ventures reserves the right to demand the return of any goods for which payment has not been received, and the Buyer agrees to make such goods available for collection upon request.

The Buyer shall not sell, transfer, or otherwise dispose of goods for which payment remains outstanding, except in the ordinary course of retail business. Any proceeds from the resale of unpaid goods shall be held in trust for Woolf Ventures LLC until the outstanding balance is satisfied in full.

Failed Payments, Returned Checks & Collections

In the event of a returned check, declined payment, or any other form of failed payment, the Buyer agrees to the following:

• A returned check fee of $50.00 will be assessed for each returned or bounced check, in addition to the full outstanding balance
• A late payment fee of 1.5% per month (18% annually) will be applied to any balance remaining unpaid beyond 30 days of the original due date
• Woolf Ventures reserves the right to immediately suspend the Buyer's account and withhold all future orders until the outstanding balance, including all fees, has been paid in full
• In the event that collection efforts become necessary, the Buyer agrees to pay all reasonable collection costs, including but not limited to attorney's fees, court costs, and collection agency fees

By placing an order through this platform, the Buyer expressly acknowledges that all delivered goods constitute a binding obligation to pay. Once an order has been confirmed, delivered, and accepted by the Buyer, the Buyer is fully responsible for the invoiced amount regardless of subsequent business circumstances, including but not limited to store closure, change of ownership, or financial hardship.

Account Suspension & Termination

Woolf Ventures LLC reserves the right to suspend, restrict, or terminate any Buyer's account at its sole discretion, including but not limited to the following circumstances:

• Failure to make timely payment or history of returned/bounced payments
• Violation of any terms outlined on this page
• Suspected fraudulent activity, misrepresentation, or abuse of the platform
• Resale of products in violation of applicable law or in a manner that damages the reputation of Woolf Ventures or its brand partners

Account suspension does not relieve the Buyer of any outstanding payment obligations. All amounts owed to Woolf Ventures LLC remain due and payable regardless of account status. Woolf Ventures may reinstate a suspended account at its sole discretion upon resolution of the underlying issue and payment of all outstanding balances and fees.

Evolving Regulatory Landscape

Woolf Ventures actively monitors federal, state, and local regulatory developments affecting hemp-derived products. The regulatory environment for these products continues to evolve, and we are committed to adapting our operations to remain in full compliance with all applicable laws.

Should any regulatory changes affect the products we distribute, we will promptly notify our retail partners and take appropriate action to ensure continued compliance. We encourage all partners to consult with their own legal counsel regarding questions about specific product compliance in their jurisdiction.

Limitation of Liability & Legal Notice

The information on this page is provided for informational purposes only and does not constitute legal advice. Woolf Ventures LLC makes no warranties, express or implied, regarding the legal status of any product in any specific jurisdiction. This information should not be relied upon as a substitute for consultation with qualified legal counsel.

Woolf Ventures LLC shall not be held liable for any damages, losses, or legal consequences arising from a buyer's reliance on the information provided herein, or from changes in federal, state, or local law that may affect the legality of products distributed through this platform.

Woolf Ventures maintains records of all transactions, supplier agreements, and available product documentation as part of our ongoing compliance program. We will promptly remove any product from our platform if it is found to be non-compliant with applicable law.

Dispute Resolution

Any dispute, claim, or controversy arising out of or relating to these terms, the products distributed through this platform, or the relationship between Woolf Ventures LLC and any buyer shall be resolved exclusively through binding arbitration administered in Travis County, Texas, in accordance with the rules of the American Arbitration Association (AAA). The arbitration shall be conducted by a single arbitrator, and the decision of the arbitrator shall be final and binding on all parties.

By placing an order through this platform, the buyer expressly waives any right to participate in a class action lawsuit or class-wide arbitration against Woolf Ventures LLC. All claims must be brought in the buyer's individual capacity and not as a plaintiff or class member in any purported class or representative proceeding.

This agreement to arbitrate shall survive termination of any business relationship between the parties. The prevailing party in any arbitration proceeding shall be entitled to recover reasonable attorney's fees and costs.

Governing Law

These terms and conditions shall be governed by and construed in accordance with the laws of the State of Texas, without regard to its conflict of law provisions. Any legal proceedings not subject to the arbitration clause above shall be brought exclusively in the state or federal courts located in Travis County, Texas, and the Buyer consents to the personal jurisdiction of such courts.

General Provisions

Severability. If any provision of these terms is found to be unenforceable or invalid by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. The unenforceable provision shall be modified to the minimum extent necessary to make it enforceable while preserving its original intent.

Entire Agreement. These terms, together with any order confirmations and invoices issued by Woolf Ventures LLC, constitute the entire agreement between the parties regarding the subject matter herein. No verbal or written representations, promises, or agreements outside of this document shall be binding unless executed in a separate written agreement signed by an authorized representative of Woolf Ventures LLC.

Acceptance. By creating an account on this platform, placing an order, or accepting delivery of goods from Woolf Ventures LLC, the Buyer acknowledges that they have read, understood, and agreed to all terms and conditions set forth on this page. Continued use of the platform constitutes ongoing acceptance of these terms, including any updates made after the Buyer's initial acceptance.

Modification. Woolf Ventures LLC reserves the right to modify these terms at any time. Material changes will be communicated to active Buyers via email or in-app notification. Continued use of the platform following notification of changes constitutes acceptance of the modified terms.

Questions?

For compliance inquiries, product sourcing questions, or to request Certificates of Analysis for any product in our catalog, please contact us directly.