updated: 21/10/21
While registering as a User of the platform you confirm that you have examined the
terms and
conditions of this User Agreement (hereinafter – the User Agreement), agree
to the terms and conditions and
undertake to follow them. The definition “the User”
refers to a natural person or
a legal person registered as a user of the Platform. By
accepting this User Agreement User confirms that he/she
carefully read the User
Agreement and agrees that terms and conditions of the User Agreement are binding to the
User.
1. Scope and interpretation of the User Agreement
1.1. The User Agreement applies to all
legal relationships between the User and the Virtual Currency Service
Provider (if
applicable according to the terms) and between the User and the Payment Service Provider.
1.2. Each
of the following legal entities shall be named hereinafter as the Service Provider.
1.3.
The each clause of this User Agreement shall be applied mutatis mutandis for the Payment
Service
Provider and the Virtual Currency Service Provider considering the
circumstances, that each of them offers only part
of the Services provided by the
Platform and that depending on the User's place of residence or their seat the
Services
may be offered by different legal entities.
1.4. By the services (hereinafter – the Services) is
meant a proposal an environment for the User and
considering this, providing ability to
use the Virtual Currency Service and the Payment Service:
1.5. The Virtual Currency Service includes
the following:
1.5.1. virtual currency wallet service, which means a service in the framework of
which keys are generated
for User and User's encrypted keys are kept, which can be used
for the purpose of keeping, storing and transferring
virtual currencies;
1.5.2. The
Platform provides the Virtual Currency Service (crypto e-wallet and crypto exchange services)
related only to virtual currencies.
1.6. For EEA country users the Virtual Currency
Service is provided by Virtual Currency Service Provider.
1.7. For non-EEA country users the Virtual Currency Service is provided by Payment Service
Provider.
1.8. The Payment Service means a service in the framework of which account opened
for the User. The User's currency held on the opened account and the User has the opportunity to
execute payment
transactions, including transfer of their currency to another payment
account(s) opened with the Payment Service
Provider, to receive currency from another
payment account(s) opened with the Payment Service Provider and to
withdraw currency to
the User's bank account or to withdraw currency using another method provided by the Payment
Service Provider (e. g. to the payment account(s) opened with another payment service provider),
exchange service,
which means a service with the help of which a User exchanges a
virtual currency against a fiat currency or a fiat
currency against a virtual currency
or a virtual currency against another virtual currency.
1.8.1. The Payment Service is provided only
by the Payment Service Provider.
1.9. The virtual currency means a value
represented in the digital form, which is
digitally transferable, preservable or
tradable and which natural persons or legal persons accept as a payment
instrument, but
that is not the legal tender of any country or funds for the purposes of Article 4(25) of
Directive
(EU) 2015/2366 of the European Parliament and of the Council on payment
services in the internal market, amending
Directives 2002/65/EC, 2009/110/EC and
2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive
2007/64/EC (OJ L
337, 23.12.2015, pp 35–127) or a payment transaction for the purposes of points (k) and (l)
of Article 3 of the same Directive.
1.10. In addition to the User Agreement, relations between
the User and the Service Provider are governed by
the valid legislation of the Republic
of Estonia, the Service Provider's Privacy Policy, the Service Provider's
price list
(hereinafter – the Price List) for the use of respective service, detailed terms and conditions
of
the service, if User informed about them, instructive texts and established good
practices.
1.11. If any of the User Agreement's provisions in conflict with the provisions of the law
and thus invalid
does not generally affect the validity of other provisions of the User
Agreement.
1.12. All information exchange and communication between the User and the Service Provider
exceeds in
English unless another language is in use by agreement between the User and
the Service Provider.
2. Registration on the Platform
The User account
2.1. In order to use the
Platform, the User is required to register a user account on their name
(hereinafter –
the User Account).
2.2. Upon registering the User Account, a person enters their contact information
and other data requested
by the Service Provider into the respective environment and
selects a unique ID and password.
2.3. The Service Provider shall have the right to limit the rights
of certain groups of users in terms of
specific usage rights, including limiting access
and/or usage rights with respect to certain parts of the Platform
or the
Services.
2.4. In order to enter the Platform, the User is required to enter their ID and password.
Payment service
providers and other the Service Provider's partners (including virtual
currency exchange service providers, payment
service providers etc.) may set additional
requirements for using the third party’s
services provided on the Platform.
2.5.
After registering the User Account, the User has an opportunity to execute transactions through
the
Platform by the User or the legal person represented by the User.
2.6. The
person to whose name the User Account has been registered (the User) shall be responsible for
the
rights and obligations related to the User Account. Among other things, the User
shall be a party of the
transactions made through the User Account.
2.7. The User
Account shall reflect:
2.7.1. the User's personal data;
2.7.2. payment accounts belonging to the
User and the amount of funds disposed on these accounts;
2.7.3. virtual currency wallets'
address(es), which is(are) opened on the name of the User and the amounts
of virtual
currency disposed on the wallets opened on the name of the User;
2.7.4. information about
transactions, which were made using the payment accounts and virtual currency
wallets
opened on the name of the User;
2.7.5. information about service fees and other payments made by the
User to the Service Provider.
Entry into the User Agreement
2.8. To ensure reliable
operation of the financial sector and the transparency of the business environment,
the
Service Provider limits the circle of persons with whom it enters into the User Agreement.
2.9. The
Service Provider shall have the right to decide with whom to enter or not to enter into the
User
Agreement (Freedom of Contract). The Service Provider shall conclude the User
Agreement, if entity which intends to
become the User meets the Conditions of the
Service Provider and submits the Service Provider the data and documents
requested by
the Service Provider. Before the Service Provider refuses to enter into the User Agreement, it
shall
thoroughly consider all the circumstances.
2.10. The Service Provider may
refuse to conclude the User Agreement with a good reason, which first and
foremost
constitutes an agreement where entity which intends to become the User or a Connected
person1:
2.10.1. has intentionally or due to severe negligence submitted the Service Provider
incorrect/insufficient
data or documents or refuses to submit requested by the Service
Provider data or documents;
2.10.2. does not submit sufficient data or documents requested by the
Service Provider for entity’s, it’s representative, actual beneficiary or for a
partner’s identification or data or documents don’t meet the
requirements of the
Service Provider;
2.10.3. has caused direct or indirect damage to the Service Provider or a threat of
actual damage or has
caused damage to the reputation of the Service
Provider;
2.10.4. does not submit sufficient data or documents related to the entity or to the
partners, requested by
the Service Provider for the certification of the legality of
their funds or there are any other grounds for
suspecting them of money laundering
(incl. using a front person) or terrorism financing;
2.10.5. is personally or its partners are
connected, or has been connected, to organised crime, money
laundering, terrorism
financing or evasion of taxes, also to international sanctions or other national transaction
limits (e.g. sanctions of the European Union or the USA) according to the information of
acknowledged and reliable
sources (e.g. state bodies, international organizations,
international or national databases, correspondent banks,
and mass media);
2.10.6.
is personally or its partners are connected, or has been connected, to the traditional income
sources of organised crime, incl. illicit traffic of excise goods or narcotic substances, illegal
trafficking of
arms or persons, mediation of prostitution, unlicensed international
transmission of money;
2.10.7. comes from a country that has insufficient levels for preventing
corruption / money laundering /
terrorism financing;
2.10.8. is, in the opinion of
the Service Provider, personally or its Connected person engaged in the field
of
activity with a high level of risk of money laundering and terrorism financing (incl. but not limited
to
providers of services of alternative payment instruments, intermediaries of such
payment instruments, internet
casinos) or they operate without the required
registration or authorisation;
2.10.9. is according to the Service Provider’s estimates related to
the
territory, area of activity, transaction or person subject to Sanctions or other
national transaction limits (e.g.
sanctions of the European Union or the
USA);
2.10.10. has, according to a decision made by a competent authority or body (e.g. a precept by
an agency, a
court order) or judging by another event or fact, through its acts or
omissions undermined the reputation of persons
working in the same area of activity
(incl. the Service Provider), or, according to a reasoned opinion of the
Service
Provider, does not behave in a responsible manner and does not follow the requirement of due diligence
and
the customs expected of companies working in this area of
activity.
1 Connected person in the meaning of the User Agreement is legal
person’s representative or actual beneficiary also a legal person over 10% of whose shares or
votes belong to the person intending to conclude the User Agreement or where the person is a
member of the
supervisory or any other management body or the procurator of such
body.
2.11. The Service Provider also refuses to enter into the User Agreement with other good
reason, especially
if the conclusion of the User Agreement is impeded by a legal
hindrance such as restricted active legal capacity and
contradictions or absence of the
right of representation, and the Service Provider has not been provided the
necessary
data and documents in order to meet its Know Your Customer principles.
Requirements for documents and
data, provided by the User
2.12. The User or their representative shall submit the data and documents
requested by the Service Provider
for identification of the User.
2.13. A natural
person shall be identified on the basis of personal identification documents that comply
with legislation and accepted by the Service Provider.
2.14. A legal person shall be
identified on the basis of a valid extract from the register and/or the
documents
accepted by the Service Provider.
2.15. The User or their representative may be identified through a
means of communication accepted by the
Service Provider.
2.16. The User shall
present to the Service Provider the original documents or their copies if they are
notarized or equally certified.
2.17. The Service Provider shall assume that the document presented
by the User is authentic, valid, and
correct.
2.18. The Service Provider may require
that documents issued abroad be legalized or certified with an
apostille.
2.19. If
documents are in a foreign language, the Service Provider may require that the documents be
translated into the language understandable for the Service Provider. The Service Provider may
require that the
translation must be notarized or certified by a sworn
translator.
2.20. The User shall bear the costs concerning the formalization, translation,
certification of the
documents and other related costs and they don’t subject to
reimbursement by the Service
Provider.
2.21. The Service Provider may make a copy of
the document submitted by the User or retain the original
document, if
possible.
2.22. If the submitted document does not meet the requirements of the Service Provider or
the Service
Provider has doubts concerning its correctness, the Service Provider shall
have the right not to execute the
User’s order or require the submission of additional
documents.
Following the Know Your Customer principles
2.23. The Service Provider shall apply
measures for the prevention of money laundering, terrorism financing,
and tax evasion,
as well as the measures of the application of international financial sanctions. Therefore,
the
Service Provider must have an overview of the User, the persons considered as
Connected persons, and also the
User’s activities (incl. economic activities) and the
origin of the assets of the User
(Know Your Customer principle).
2.24. Based on the
abovementioned considerations, the Service Provider shall have the right and obligation
to:
2.24.1. check the identification information of the User or the representative of the User on a
regular
basis and receive additional documents and data (incl. citizenship, tax
residence, place of residence, owners of the
legal person, actual beneficiaries,
founders and members of the management board) from the User;
2.24.2. regularly ask for documents and
data regarding the activities of the User, incl. data regarding the
Connected persons,
turnover, international payments, as well as data regarding the purpose and essence of
transactions and the legal origin of the assets or of the assets used in transactions;
2.24.3. ask
the documents constituting the basis for the transactions from the User (e.g. sales, lease and
supply agreements, documents related to the goods etc.), and also data or documents regarding the
counterparty,
actual beneficiary of the transaction or any other person involved in or
related to the transaction;
2.24.4. monitor how the User uses the Services;
2.24.5. establish
temporary or permanent restrictions on the use of the Services.
2.25. The Service Provider
shall have the right not to execute the User’s order
if the User does not submit data
or documents specified in clauses 2.24.1– 2.24.3 of the User Agreement to the
Service
Provider.
2.26. While applying the measures for the prevention of money laundering and terrorism
financing the Service
Provider shall use risk-based methods and select the suitable and
appropriate extent of the measures, proceeding
from the nature of the transactions, as
well as the assessment regarding the amount of risk that the User or any
other person
related to the transaction is engaged or may commence money laundering or terrorism financing.
3.
Communication with the User and information about the Services
3.1. The Service Provider shall
forward information to the User through its place of business, its website,
through the
Platform or by any other agreed manner. The Service Provider shall send personal notices to the User
by
a means of communication (e.g. by post, email, mobile phone including text messages)
or through an electronic
channel of the Service Provider (e.g. notifications on the
Platform)
3.2. Upon submitting to the Service Provider the User’s contact details (e.g.
postal address, email, phone number) the User agrees to receive any information from the Service
Provider via
abovementioned contact including details about the amendment of the User
Agreement which regulate relations with the
User and the User’s private data.
3.3.
Communication between the User and the Service Provider, the Service Provider’s explanations regarding
the User Agreement, and/or news, articles, information letters,
etc. forwarded by the
Service Provider shall not constitute investment consultations, or advice, an offer or
recommendation to conduct a transaction.
3.4. Personal notices sent to the User by the Service
Provider shall be considered as received by the User
when the period usually necessary
for sending a notice through the corresponding means of communication has passed
as of
sending the notice to the User’s contact details. A personal notice sent through
an
electronic channel shall be considered as received on the day it was sent. A notice given by email or
SMS shall
be considered as received on the day it was sent.
3.5. The User receives
information about the Services from the User Agreement, the Service Provider’s employee or the
Platform's website.
3.6. The User shall forward information to the Service Provider on paper,
electronically (e.g. through the
Platform functional, by email) or in another agreed
manner.
3.7. If the User has not received a notice from the Service Provider, the receipt of which
they could
anticipate, the User shall notify the Service Provider immediately if the
deadline during which one could expect
receipt of the notification has passed.
3.8.
The User shall immediately verify the correctness of the information included in the notice
received
from the Service Provider and lodge his or her objections to the Service
Provider immediately after receipt of the
notice.
3.9. The User shall immediately
notify the Service Provider of any and all data and circumstances that have
changed
compared to the data submitted to the Service Provider earlier (e.g. changes in personal or contact
details,
residence, or the right of representation; or reorganization proceedings), as
well as of any and all circumstances
that may affect the performance of the User’s
obligations before the Service Provider
(e.g. merger, division, bankruptcy, execution
or liquidation proceedings). The User shall provide a document
certifying the amendment
upon the Service Provider’s demand.
3.10. The User shall immediately notify the Service Provider of
the loss, theft of their personal
identification document or another means of
identification or security element or loss of possession thereof against
their will in
any other manner (e.g. loss of user ID, password or any other methods of authentication)
3.11. The
Service Provider shall assume the correctness of the User’s data at
the Service
Provider’s disposal, even if the User has failed to fulfil the information
submission
obligation.
4. The Payment Services
4.1. When registering the User Account, the Payment Service
Provider creates accounts on the name of the
User (hereinafter – the User Payment
Account).
4.2. The User Payment Account shall be created only for the currencies, which are
applicable in accordance
with clause 1.8.2 of the User Agreement.
4.3. The User
Payment account for each currency has unique number, which shall be used to perform
transaction regarding this User Payment Account.
4.4. The User has a right to execute the following
transactions through the User Payment Account:
4.4.1. top up the currency balance (deposit a
currency) of the User Payment Account by sending relevant
amount of currency to the
Payment Service Provider;
4.4.2. send currency from the User Payment Account to another payment
account (specified by the User), which
is opened on the Payment Service
Provider;
4.4.3. receive currency to the User Payment Account from another payment account, which is
opened on the
Payment Service Provider;
4.4.4. exchange currencies deposited on the
User Payment Account to another currencies, for which the User
Payment Account is
created (e. g. exchange EUR to RUB etc.);
4.5. The User has a right to make
transactions with the User Payment Account in accordance with terms and
conditions
specified in the User Agreement.
4.6. Transactions performed and service fees paid are reflected in
the User Account's statement, which is
available to the User in an electronic form in
the User Account or in another way previously agreed upon.
4.7. To perform the transaction specified
in clause 4.4.1 the User shall send the application to the Payment
Service Provider,
where the top up method, the amount of top up and other necessary data is specified. The
Payment
Service Provider allows the following methods for top up the User Payment
Account:
4.7.2. Payment systems.
4.8. To perform the transaction specified in clause
4.4.2 the User shall send the application shall contain
at least the
following:
4.8.1. the payment account number, which is opened on the Payment Service Provider, where
currency shall be
transferred from the User Payment Account;
4.8.2. amount of
currency, which shall be transferred from the User Payment Account.
4.9. To perform the
transaction specified in clause 4.4.4 the User shall send the application shall contain
at least the amount of currency shall be exchanged. The User's currency shall be exchanged with the rate
specified
by the Payment Service Provider and the result of exchange shall be deposited
to the User Payment Account.
4.10. To perform the transaction specified in clause 4.4.2 and 4.4.5 the
User shall send the application
shall contain at least the amount of currency which
shall be withdrawn from the User Payment Account and the
withdrawal method. Depending
on withdrawal method, the other necessary data required for the withdrawal process may
be requested.
4.11. The User is fully responsible for transactions, specified in clause 4.4. None of
the losses resulted
from the mistakes made by the User when executing the transaction
with the User Payment Account shall be covered by
the Payment Service Provider and the
transaction itself shall not be the subject to the changes or cancel after its
complete
performance.
4.12. The User Payment Account cannot be closed upon the User's request. The User Wallet
may be closed only
if there is no currency, which may be sent or withdrawn from the
User Payment Account.
5. The Virtual Currency Services
The virtual currency wallet service
5.1.
When registering the User Account, the Service Provider creates virtual currency wallets on the name
of
the User (hereinafter – the User Wallet).
5.2. The User Wallet shall be created
only for a virtual currency, which is available in accordance with
clause 1.5.3 of the
User Agreement.
5.3. The User Wallet for each virtual currency has unique virtual currency wallet
number, which shall be
used to perform transactions regarding to this User
Wallet.
5.4. The User has a right to make transactions using the User Wallet, including:
5.4.1.
send virtual currency from the User Wallet to another virtual currency wallet, specified by the User;
5.4.2. receive virtual currency to the User Wallet from another virtual currency
wallet.
5.5. The User has a right to make transactions using the User Wallet in accordance
with terms and conditions
specified in the User Agreement.
5.6. Transactions
performed and service fees paid are reflected in the User Account's statement, which is
available to the User in an electronic form in the User Account or in another way previously agreed
upon.
5.7. The User's order for sending virtual currency from the User Wallet shall contain at least
following:
5.7.1. virtual currency wallet address, where virtual currency shall be transferred from the User Wallet;
5.7.2. amount of virtual currency, which shall be transferred from the User Wallet.
5.8. The
User is fully responsible for transactions, specified in clause 5.4. None of the losses
resulted
from the from the mistakes made by the User when executing transaction with
the User Wallet shall be covered by the
Service Provider and the transaction itself
shall not be the subject to the changes or cancel after its complete
performance.
5.9. The User Wallet cannot be closed by the User's request. The User Wallet may be
closed only if there is
no virtual currency, which may be sent or withdrawn from the
User Wallet.
The virtual currency exchange service
5.10. At the User's request the Service
Provider shall perform one of the following transactions
(hereinafter – the Exchange
Services):
5.10.1. exchange virtual currency disposed on the User Wallet to fiat currency, which
shall be disposed on
the User Payment Account;
5.10.2. exchange one virtual currency
against another between the User's Wallets on the Platform;
5.10.3. exchange the User's fiat currency
disposed on the User Payment Account to virtual currency, which
shall be disposed on
the User Wallet;
5.10.4. exchange virtual currency between the users that have sent the applications
for virtual currency
exchange to their user wallets with the rate, specified by them
(peer to peer exchange).
5.11. To receive the Exchange Services, the User shall submit
relevant application to the Service Provider.
5.12. The Exchange Services shall be performed at the exchange rate established by the Service
Provider.
5.13. The Service Provider shall perform the Exchange Services in the reasonable time after
User's request
in accordance with clause 5.11. The User agrees, that due to virtual
currency price fluctuations, the exchange rate
may vary, and the Service Provider is
not obliged to perform the Exchange Services at the exchange rate proposed by
the User
in application, specified in clause 5.11.
5.14. When performing the Exchange Service specified in
clause 5.10.1, the Service Provider shall debit the
relevant User Wallet in the virtual
currency's amount specified in the User's application and send the relevant
amount of
currency (as result of exchange) to the relevant User Payment Account.
5.15. When performing the
Exchange Service specified in clause 5.10.2 the Service Provider shall debit the
relevant User Wallet in the virtual currency's amount specified in the User's application and deposit
relevant
amount of virtual currency to another User Wallet.
5.16. When performing
the Exchange Service specified in clause 5.10.3 the Service Provider shall receive
currency from the User Payment Account in amount specified in the User's application and deposit
relevant amount of
virtual currency to the User Wallet.
5.17. When performing the
Exchange Service specified in clause 5.10.4 the Service Provider shall process 2
users´
applications for exchange their virtual currencies and debit the corresponding User Wallets with
the
virtual currency in the amount specified in users´ applications and deposit
relevant amount of virtual
currency to the corresponding User Wallets.
5.18. The
User is fully responsible for transactions, specified in clause 5.10. None of the losses
resulted
from the mistake made by the User when executing transaction shall be covered
by the Service Provider and the
transaction itself shall not be the subject to the
changes or cancel after its complete performance.
5.19 New users can make only one exchange after which it is necessary to increase the number of
exchanges. To do this, contact the support
6. Making transactions
6.1. The User shall certify
their right to use the Service in a manner acceptable to the Service Provider.
6.2. The Service Provider shall refuse to provide the Service if there is a doubt that the person wishing
to
use the Service is entitled thereto. In such an event, the Service Provider shall
not bear any liability for the
damage caused by refusal to provide the Service.
6.3.
The User can only give the Service Provider such orders that are allowed for by the conditions of
the
Services provided. The orders shall be unambiguous and executable. The Service
Provider shall not bear any liability
for forwarding errors, ambiguities or mistakes in
the orders. In the case of ambiguities the Service Provider shall
have the right to
demand additional information or documents from the User and, until the receipt thereof and
information contained therein is checked, to postpone the execution of the order.
6.4. The
User or their representative shall give the order by hand, electronically signed/confirmed or
through another means of identification or security element accepted by the Service
Provider.
6.5. The Service Provider may demand signature of the document in the Service Provider’s
office or, if it proves impossible, notarization of the signature.
6.6. The User shall ensure a
sufficient amount of funds to the Service Provider for the execution of the
order given
to the Service Provider. In the event that there is not a sufficient amount of funds on the
Service
Provider disposal and unless agreed otherwise the Service Provider have a right
to not perform the execution of
orders.
6.7. An order that the Service Provider has
taken to execute shall not be cancelled, amended and/or changed
unless otherwise stated
in the Service Conditions.
6.8. If the Service Provider has doubts regarding the legality of the
order, it may demand additional
confirmation at the expense of the User in the form
and/or the manner accepted by the Service Provider prior to the
execution of the
order.
6.9. Upon the execution of an incorrect or insufficient order, the Service Provider may
execute the order
proceeding from the practice and principles of sound management or
refuse to execute the order. The Service Provider
shall not bear liability for the
execution or non-execution of the order in the aforementioned case.
6.10. The Service Provider may
refuse to execute or apply restrictions to the order if this is necessary due
to the
requirements (e.g., measures for combatting money laundering and the financing of terrorism) set by
the
payments service provider, the agency of the country, or if the payment is directly
or indirectly connected with a
person sanctioned or restricted by a foreign country or
the transaction is contrary to the restriction imposed by
the financial
sanctions.
6.11. The Service Provider may refuse to execute the order if the User is intoxicated by
alcohol or drugs or
the Service Provider has doubts for any other reason that the User
is not able to understand the meaning and
consequences of their actions.
6.12. The
Service Provider shall execute the User’s orders within the reasonable
period.
6.13.
The Service Provider shall not bear any liability for the deadlines or rules established by the
User
or a third person or the damage caused by the User or the Third Person.
6.14.
The Service Provider may partially or fully transfer the performance of its obligation to
third
persons provided that it arises from the essence of the obligation or is more
expedient for the purpose of
performance of the obligation in consideration of the
User’s interests.
6.15. For the purposes of ensuring security, the Service Provider may give orders
to the User (e.g. to
change the account’s password or another security feature) and the
User shall comply
with the orders immediately. The User shall be liable for all damage
resulting from the noncompliance of such
orders.
Payments for the Services
6.16.
The User shall pay the Service Provider a fee for the rendered Service established in the Price List.
6.17. In addition to the costs specified in the Price list the User shall cover the Service Provider’s
expenses which result from the operations performance in the interest of the User (e.g.
communication or postal costs, notary fees, etc.) and the costs related to the User Agreement
performance (e.g.
legal expenses, etc.).
6.18. The User shall pay for the Services
not specified in the Price List according to the actual expenses
of the Service
Provider. The Service Provider shall issue an invoice at the request of the User.
6.19. If the User
fails to perform their obligation before the Service Provider, the User shall pay the
Service Provider the default interest and/or the penalty established in the Price List. The Service
Provider shall
start calculating the default interest as of the date of creation of the
arrears and terminate the calculation of
the default interest as of the date of
settlement of the arrears.
6.20. The User shall keep a sufficient amount of funds on the User Payment
Account or on the User Wallet so
that the Service Provider can debit all service fees
and other sums and arrears payable from the User Payment
Account or the User
Wallet.
6.21. The Service Provider shall debit the User’s assets which are on the User
Payment Account or on the User Wallet with the service fees and other sums and arrears payable.
This also applies
after the sums have become collectible, including in the case that
the User has submitted other orders with respect
to these sums before their actual
withholding by the Service Provider.
6.22. The Service Provider shall withhold the service fees and
other sums payable in euros or in the other
currency (including virtual currency) in
which the User keeps their assets on the User Payment Account or on the
User
Wallet.
6.23. If the User does not keep the sufficient amount of funds on the User Payment Account or
on the User
Wallet for the deduction of all the service fees and other sums and arrears
payable, the Service Provider shall
establish the order of performance of the User's
obligations.
6.24. The User shall receive information about the deduction of the service fees and
other paid sums and
arrears stipulated in the Price List in the User Account.
7.
Restrictions for using the Services
7.1. Freezing is an action in a result of which the User’s right
to make all
transactions or some operations on the Platform, has been
suspended.
7.2. The Service Provider shall freeze the right to manage assets or to use the Service,
if:
7.2.1. the amount of funds delivered by the User to the Service Provider is not sufficient to
settle the
Service Provider’s claims against the User;
7.2.2. the Service Provider
suspects the User of connection to the money laundering, terrorism financing or
other
crime (e.g. fraud);
7.2.3. the Service Provider suspects that corresponding transaction, the User or
connected person is related
to the territory, area of activity, the Service or a person
subject to sanctions or other national transaction
limits (e.g. sanctions of the
European Union or the USA);
7.2.4. a company mediating the Service (e.g. international card
organisation or other settlement system
operator) has established restrictions on the
corresponding country, territory, currency, area of activity, Service,
person or
transaction (e.g. restrictions on international payments that are related to gambling or a
territory
linked to sanctions);
7.2.5. the Service Provider has been presented with
controversial information about the persons having the
right of representation or
documents regarding the authenticity of which the Service Provider has doubts;
7.2.6. the User did
not submit to the Service Provider documents and all the data which in the meaning of
the Service Provider required to establish that submitted to the Service Provider information is correct
(e.g.,
information about the User, about actual beneficiary of the User who is legal
person or information about origin of
User’s assets);
7.2.7. upon the estimation of
the Service Provider, freezing is necessary in order to prevent damages to the
Service
Provider or a third person;
7.2.8. the User’s assets have been attached or there is another ground
for the
freezing related to the decision of the state body.
7.3. The
Service Provider shall cancel the freezing as soon as the reason for freezing has been eliminated.
7.4. The Service Provider shall not bear liability for the damage arising from freezing.
7.5. The
Service Provider shall only attach the assets of the User at the request of a third person in
the
cases and pursuant to the procedure prescribed by law (e.g., on the initiative of a
tax authority or a bailiff).
7.6. The Service Provider shall release the User’s assets from the
attachment on
the basis of a resolution of the body that issued the attachment
decision, regulation or precept or on the basis of
the enforced judicial
decision.
7.7. The Service Provider may carry out planned maintenance and development work of the
information system.
If possible, the Service Provider shall carry out the planned
maintenance and development work at night.
7.8. Upon the occurrence of extraordinary circumstances,
the Service Provider shall carry out extraordinary
maintenance or development work at
the time chosen by the same in order to prevent greater damage.
7.9. During the maintenance or
development work the performance of the Service Provider’s contractual obligations before the User
arising from the User Agreement shall be
suspended and the Service Provider shall not
compensate the User for the potential damage resulting from the failure
to perform the
obligations under the User Agreement due to the abovementioned grounds.
7.10. The Service Provider
may immediately unilaterally cancel the User Agreement for a good reason
(extraordinary
cancellation). The good reason should be considered as follows:
7.10.1. The User or a legal person
connected to them has violated an obligation, the precise following of
which is a
prerequisite for the continuing interest of the Service Provider upon continuing the performance of
the
User Agreement. Such obligations include but not limited to:a) presentation of
correct, complete and truthful
information to the Service Provider upon identification
of the person;b) notification about all changes to the
information set forth in the
agreements or the documents presented to the Service Provider;c) submission of
all
information and documents that are considered necessary by the Service Provider for determining the
truthfulness
of the information related to the User or the actual beneficiary of the
User which is a legal person;d)
presentation of their sufficient information and
documents verifying the legality of one’s economic activities (incl. connected persons, ownership
relations), money or other
assets of the User at the Service Provider’s request;e)
presentation of accurate
information about User’s economic situation provided that such
information is of
significant importance to the Service Provider upon making decisions
or performing other operations;f)
notification of the Service Provider about the
deterioration of one’s economic situation
or other circumstances that can hinder the
performance of the User’s obligations before
the Service Provider in the required
manner.
7.10.2. the Service Provider suspects the User or a connected person of money laundering or
terrorism
financing;
7.10.3. the Service Provider suspects that the User or a
connected person is a front person;
7.10.4. Sanctions or other national transaction limits (e. g.
sanctions of the European Union or the USA)
have been imposed on the User or connected
person;
7.10.5. the Service Provider suspects that the User’s transaction violates the
sanctions or other national transaction limits (e. g. sanctions of the European Union or the
USA);
7.10.6. The User or the connected person:a) is personally or its partners are connected, or has
been
connected, to organised crime, money laundering, terrorism financing or evasion of
taxes, also to international
sanctions or other national transaction limits (e. g.
sanctions of the European Union or the USA) according to the
information of
acknowledged and reliable sources (e. g. state bodies, international organizations, international
or
national databases, correspondent banks, and mass media);b) is personally or its
partners are connected, or
has been connected, to the traditional income sources of
organised crime, incl. illicit traffic of excise goods or
narcotic substances, illegal
trafficking of arms or persons, mediation of prostitution, unlicensed international
transmission of money;c) comes from a country that has insufficient levels for preventing corruption /
money
laundering / terrorism financing;d) is, in the opinion of the Service Provider,
personally or its connected
person engaged in the field of activity with a high level
of risk of money laundering and terrorism financing (incl.
but not limited to providers
of services of alternative payment instruments, intermediaries of such payment
instruments, internet casinos) or they operate without the required registration or authorisation;e)
is
according to the Service Provider’s estimates related to the territory, area
of
activity, transaction or person subject to Sanctions or other national transaction
limits (e.g. sanctions of the
European Union or the USA);f) has, according to a
decision made by a competent authority or body (e.g. a
precept by an agency, a court
order) or judging by another event or fact, through its acts or omissions undermined
the reputation of persons working in the same area of activity (incl. the Service Provider), or,
according to a
reasoned opinion of the Service Provider, does not behave in a
responsible manner and does not follow the
requirement of due diligence and the customs
expected of companies working in this area of activity.
7.10.7. the User has intentionally or due to
severe negligence failed to perform their obligation which
arises from the User
Agreement;
7.10.8. the User has intentionally or due to severe negligence caused damage or a threat
of actual damage to
the Service Provider by their actions or failure to act;
7.10.9.
the User has failed to perform their obligation which arises from any agreement concluded with
the
Service Provider and this fact constitutes a good reason for the Service Provider
to assume that the User will not
perform their contractual obligations in the
future;
7.10.10. an event which, according to the reasoned opinion of the Service Provider, may
hinder due
performance of the User’s obligations arising from the User Agreement or
which has a
considerable adverse effect on the User’s business activities or the
financial situation
(e. g. the User’s bankruptcy or liquidation proceedings) has
occurred;
7.10.11. state supervisory agency or any other governmental authority demands the
termination of the User
Agreement;
7.10.12. administrator of an international
payment or settlement system (e.g. an international card
organisation), a bank of the
Service Provider or any other intermediary of the Service demands the termination of
the User Agreement;
7.10.13. the User does not fulfil the requirements set by the rules for the
exchange of any tax-related
information;
7.10.14. the User does not provide
sufficient data or documents to the Service Provider in order to meet the
Know Your
Customer principles.
7.11. Before extraordinary cancellation of the User Agreement, the
Service Provider shall thoroughly
consider all the circumstances and make the decision
on the basis of the principle of reasonableness.
8. Rights and obligations of the Parties
8.1. The
User shall:
8.1.1. submit completely correct personal data and contact information, including signing
up with his/her
correct and complete name and valid e-mail upon registering as the User
of the Platform and update this information;
8.1.2. avoid using the Platform for fraud or any other illegal transactions;
8.1.3. submit only
correct information when using the Platform;
8.1.4. ensure that data entered by the User in the
course of using the Platform:a) are not misleading,
inaccurate and/or wrong;b) comply
with laws and regulations;c) are not contrary to good morals;d)
do not contain viruses
and other computer programs or files that interrupt, damage or otherwise interfere with
normal use of the Platform and/or may be stored on the User’s computer as a result of
using the Platform and/or interrupt, damage or otherwise interfere its normal functioning;
8.1.5. not
compile databases/lists of the Platform's users for any purpose;
8.1.6. refrain from submitting
demands against Service Provider except in case of demands directly arising
from the
User Agreement;
8.1.7. maintain the details required for using the Platform in a manner that prevents
them from falling into
the hands of third persons, except if the User has authorised
such third persons to represent him/her in using the
services. Among other things, the
User understands and agrees that he/she is personally responsible for the
confidentiality of his/her account-related details (including e-mail, password etc.).
8.1.8.
immediately amend all changed information and circumstances or if amending him/herself is not
technically possible, inform the Service Provider about such changes via e-mail.
8.1.9.
immediately inform Service Provider via e-mail if his/her fixed password or username required for
the
Platform is lost or has fallen into the hands of third persons;
8.2.
By performing transactions in the Platform, the User confirms that they:
8.2.1. is a person with
active legal capacity and has the right to perform transactions enabled by the
Platform;
8.2.2. duly performs all the User's obligations specified in the User Agreement;
8.2.3.
is aware that if the fixed password and username required for using the Platform became known to
the
third persons, such third persons will be able to take on obligations that are
binding for the User and fulfilment
of which is the obligation of the User and that the
Service Provider bears no obligation to additionally verify
(i.e. except e-mail and
password) the person using the Platform.
8.2.4. is aware and agrees that Service Provider has the
right to process the Personal Data of the User
according to the legislation valid in
the Republic of Estonia and Privacy Policy of the Service Provider.
8.2.5. has examined and accepts
the valid Price List and other terms and conditions stated with clause 1.1
of the User
Agreement
8.3. Considering reasonable circumstances and based on own reasonable assessment,
the Service Provider has
the right to limit or terminate the right of a User to use the
Platform, change the information published on the
Platform by the User, close the User
Account and prevent the User from re-registering as a new User:
8.3.1. if the User is in breach of
the User Agreement or the obligations of the User resulting from it;
8.3.2. if the User has submitted
false, misleading or inaccurate information when registering as the User or
during
using the Platform;
8.3.3. if the User knowingly and intentionally spreads false information in the
Service Provider's Platform,
insults other persons in any way or behaves in an
undignified manner;
8.3.4. if due to some other valid reason.
8.4. The Service Provider
has the right to monitor activities on its Platform at any time, including
monitoring
the activities of the Platform's users. Service Provider may investigate all alleged breaches of the
User
Agreement and use any legitimate means for this purpose.
9.
Responsibility
9.1. Among other things, but not only, Service Provider is not responsible
for:
9.1.1. the accuracy and legality of information published by the User in the Platform;
9.1.2.
inappropriate or unlawful behaviour of the User;
9.2. The Service and any content or
service or feature related to the Platform or made available through the
Platform is
provided on the basis of as is or as available principle without any directly or indirectly
expressed
guarantee. The Service Provider disclaims all guarantees to the extent
possible under applicable law.
9.3. The Service Provider is not responsible for circumstances
including, but not limited to:
9.3.1. any interruption, stall, stop or other inaccessibility of the
Platform or the Service;
9.3.2. program errors, viruses, Trojans, etc. distributed or transmitted by
someone to the Platform or via
its services;
9.3.3. deletion of any content or data
or impossibility to save content or data;
9.3.4. any violations committed by the User against third
parties.
9.4. The User shall compensate any expenses, losses, claims, pecuniary claims and
costs (incl. legal costs)
directly or indirectly resulting from an infringement
committed by the User to Service Provider and cooperation
partners and subcontractors
of the Service Provider used for provision of the Services by the Service Provider.
9.5. The Service
Provider is not responsible for any of the circumstances caused by a circumstance
reasonably beyond Service Provider control, including, but not limited to, natural disaster, storm,
fire,
earthquake, explosion, flood, war, civil disturbance, rebellion, terrorism,
lock-out or other job action, embargo,
crime, weather and climate conditions, failure
or inability of a third person to fulfil its obligations, power
outage, any
confiscation by a government or a government agency, their actual or potential measure.
9.6. The
Service Provider and the User shall perform their obligations arising from the transaction
relations duly, reasonably, in good faith, carefully and pursuant to the customs and usual
practice.
9.7. The Parties shall be liable for the wrongful non-performance or inappropriate
performance of their
obligations.
9.8. The Service Provider shall not bear liability
for the Services provided or information forwarded by
third parties through the Service
Provider.
9.9. The Service Provider shall not bear liability for indirect damages caused to the User
(e.g. loss of
profit).
9.10. The Service Provider shall not bear liability for the
damage caused to the User or the third parties
by the User’s fail to perform the
notification obligation stipulated in clause 3.9 of
the User Agreement.
9.11. The
Service Provider shall not bear liability for the damage caused by the change of currency or
security rates or other investment risks.
9.12. The Service Provider shall not bear liability
for the damage arising from the Service Provider’s unawareness of the absence of the passive legal
capacity of the legal person or the
absence of the active legal capacity or capacity to
exercise the will of the natural person.
10. Intellectual property
10.1. The Platform itself and
all its content are intellectual property and belong to the Service Provider.
By
providing anything protected by copyright or other intellectual property rights to the Platform, the
User shall
grant a license for exercising the existing property rights concerning these
things to the Service Provider,
including the right to use the things submitted by the
User in any manner, to authorise and prohibit use of the
things in the Platform,
reproduce, distribute, translate, make adaptations, add the things to collection or
databases and communicate the things to the public. The User shall ensure and guarantee that the User is
not in
breach of copyrights and other intellectual property rights of third parties by
using the Platform. Failing to do so
results in the obligation of the User to
compensate the resultant damage and other costs.
10.2. Any and all intellectual property rights to
the Platform, including the structure, web design
elements, texts and other components
of the Platform, and the intellectual property rights related to them
(including the
intellectual property rights to trademarks, logos, brands, software, databases, news,
messages,
texts, graphic, musical and other design) belong to the Service Provider,
unless the rights of another person are
referred to with regard to a component, or
information has been entered by the Users of the Platform. Users shall
not be allowed
to change, reproduce, disseminate, process, translate, make extracts from, forward, include in
other
databases or make public the Platform or any of its contents or components or use
it in any other manner that is
beyond the intended purposes of the Platform without the
prior written consent of the Service Provider. Furthermore,
the User shall not be
allowed to grant sub-licenses for using the Platform or any of its contents or components or
create new objects of intellectual property based on them.
10.3. The Users are allowed to
publish only such material in the Platform for which they have intellectual
property
rights to the extent that is necessary for publishing the respective materials in the Platform and
for
granting the consent set forth in clause 11.3. A User shall be fully responsible
for the materials published in the
Platform by them and shall be obliged to compensate
to the Service Provider any and all expenses and damages caused
(including indirect
damages) that are related to the use of material published by the User in the Platform in an
unauthorised manner or in a manner that otherwise violates rights arising from intellectual
property.
10.4. With publishing of any material in the Platform by the User, the User shall give
their unconditional
and free consent to the Service Provider to store, disseminate and
publish such material in accordance with the User
Agreement and to change or process in
any other manner to the extent that is necessary for the intended use of the
Platform.
11. Processing of the User's data
11.1. For the purposes of the User Agreement, personal
data shall be any and all data and information on the
User, which the User has
disclosed upon registering the User Account, using the Platform and the Services, or which
the Service Provider has learned about such User from third parties. Provisions of this chapter
that refer to any
data shall also be applicable to personal data.
11.2. By
registering the User Account and/or disclosing data, the User shall ensure that any and all
data
submitted by them to the Service Provider is truthful and up to date, and confirm
that they are aware of and consent
to the fact that any and all legally collected data
regarding the User which are in the possession of the Service
Provider, regardless of
their origin, shall be processed by the Service Provider for the purposes related to the
possibilities of use of the Platform and to the extent necessary for it, as well as according to
the bases and
procedure established in legal acts.
11.3. The User is aware of and
hereby gives their consent in their name for validating the correctness of
the data
submitted to the Service Provider and for obtaining additional data from third parties. For
the
abovementioned purposes, the Service Provider has the right to forward the User’s
data
to third parties.
11.4. A User, who is a natural person, has the right to
withdraw their consent for processing personal data
at any time, request to cease of
processing of personal data, terminate the access to them and request the deletion
or
closing of the collected personal data provided if the legal acts do not oblige the Service Provider to
save
data. Upon withdrawing the User’s consent to process personal data User Account
shall be
closed.
11.5. The Service Provider shall be obliged to keep the Users’ data
confidential
and follow any and all rules arising from the Personal Data Protection Act
of the Republic of Estonia. The Service
Provider shall have the right to disclose
User’s personal data to third parties in cases
set forth in the law and the User
Agreement.
11.6. The Service Provider shall have the right to disclose (personal) data of the User to
persons belonging
to the same group as the Service Provider and persons who provide the
Service Provider with legal assistance,
accounting, auditing or any other services,
which presume processing of the Users’
personal data, provided that the respective
service provider has undertaken the obligation towards the
Service Provider not to
disclose the respective personal data to third parties.
11.7. The Service Provider shall have the
right to process the data submitted by the User and data generated
during the User’s
use of the Platform at any time for statistical purposes and disclose
the resulting
statistical data, ensuring that it would be impossible to connect the data directly to any
specific
User.
11.8. The Service Provider shall have the right to use the e-mail
address and mobile phone number of the
User for the purposes of forwarding to the User
information, advertising and offers from the Service Provider or its
cooperation
partners. The User shall have the right to choose, which notifications and offers they wish to
receive
through the Platform and refuse to receive offers from the Service Provider and
their cooperation partners, without
their respective query through the Platform.
Information on how to refuse the offers and advertising sent to the
Users by the
Service Provider is available at the offer or advertising and/or settings of the User Account.
12.
Amendment of the User Agreement
12.1. The Service Provider has a right to unilaterally change and
supplement the User Agreement, Price List
and other terms and conditions stated in
clause 1.1 at any point of time in relation to development of the Platform
and the
Services and their improved and more secure use.
12.2. The Service Provider shall notify the User of
the User Agreement's changes through notices published
in the Platform.
12.3. The
changes stated in clause 12.1 of the User Agreement shall become valid as of publication of
the
respective notice in the Platform. The User agrees to the changed terms by
continuing to use the Services.
13. Duration and Expiry of the User Agreement
13.1. The User
Agreement is valid without a term. The User Account in the Platform is opened without term.
13.2. The User has the right to terminate the User Agreement at any time and demand his/her user account
to
be closed, if he/she has fulfilled all prior obligations in front of the Service
Provider.
13.3. Before the termination of the User Agreement, the User shall withdraw or transfer all
assets
(currencies and virtual currencies) from the User Payment Account and from the
User Wallet.
13.4. The Service Provider shall have the right to limit or cancel the User’s
right to use the Platform and close the User Account, as well as to terminate an agreement
concluded with the User
at any time without advance notice if it appears
that:
13.4.1. the User violates or has violated the User Agreement or any other User's
obligations;
13.4.2. the User does not accept new User Agreement upon first logging into the Platform
after the new user
Agreement has been made available in the Platform;
13.4.3. the
User has submitted to the Service Provider data and/or information that is incorrect,
misleading
and/or inaccurate;
13.4.4. the User behaves upon using the Platform in
bad faith, without dignity, illegally or in
contradiction with the moral standards
recognized in the society;
13.4.5. the Service Provider has discovered a circumstance based on which
there may be a suspicion that
third parties have gained possession of the data and
devices allowing logging into the User Account and using of the
Platform and the User
Account could be used by an unauthorized person;
13.4.6. the User despite receiving the relevant
request of the Service Provider, does not submit documents
or information that are
necessary to perform the Service Provider’s due diligence
obligations pursuant to
current legislation or submitted documents or information do not remove the Service
Provider’s suspicion that the purpose of the business relationship or transaction may be
money laundering or terrorism financing.
13.5. The Service Provider shall have the
right to close the Platform.
13.6. Upon closing the Platform or in cases set forth in clauses 13.2
and 13.4 (if the User can no longer
use the Platform) the transactions made through the
Platform shall remain in force.
14. Disputes resolution
14.1. Any disputes between the Service
Provider and the User shall be subject to resolution by way of
negotiations.
14.2.
The case that the Parties fail to reach an immediate agreement on the spot, the complaint shall
be
filed in writing or in another agreed manner.
14.3. The complaint shall refer to
the circumstances and the document on the basis of which the complaint is
filed. If the
User refers to a document in the complaint that is not freely accessible to the Service Provider,
the
document shall be enclosed with the complaint.
14.4. The Service Provider shall
review the complaint and give notification of its decision in the manner
agreed on
(e.g., orally, in writing, electronically) within 15 (fifteen) days after receiving the complaint at
the
latest. If the complaint cannot be replied to within the aforementioned time due to
its complexity or the necessity
to clarify additional circumstances, the person who
filed the complaint will be notified of it as well as of the
term during which the
complaint will be replied to.
14.5. If the Parties fail to reach an agreement, the User shall be
entitled to have recourse to
extrajudicial institutions indicated in the Procedure for
Handling User’s Complaints in
order to have the dispute settled and/or request an
impartial second opinion.
14.6. Any court action between the Parties shall be resolved in the Harju
County Court which has exclusive
jurisdiction for resolving disputes arising under the
Agreement.
15. Final Provisions
15.1. The relations between the Virtual Currency Service Provider
and the User shall be governed by the laws
in force in Republic of Estonia.
15.2.
The relations between the Payment Service Provider and the User shall be governed by the laws in
force
in Republic of Vanuatu.
15.3. The User Agreement has been drafted in the
English language. The English version of this Agreement is
the governing version and
shall prevail whenever there is any discrepancy between the English version and any other
version.