Terms and conditions

PLEASE READ CAREFULLY




1. General

1.1.

These Terms and Conditions (the “Terms”) constitute an electronic agreement between you (the “Client”, “you”, “your”) and SharkPay OÜ, a legal entity incorporated under the laws of Republic Estonia with registration code 14897034 and registered address at Vaike-Paala, 2, Tallinn, Estonia, 11415 (the “Company”, “we” “us”, or “our”) that applies to the Client’s use of the Arbex (https://www.arbex.com/) website (the "Website"), any and all services, product and content provided by the Company.


1.2.

By accessing the Website, opening an Account, and using any Services, you expressly confirm that you have carefully read and accepted all provisions of these Terms (including Privacy Policy and AML policy) and you agree to be bound by them. You also acknowledge and fully understand the risks, fees, obligations, and benefits associated with the Services.


1.3.

These Terms, including the Privacy Policy, the AML policy, any additional terms and/or policies, appendixes, notices, notifications, representations, warranties and disclaimers, published from time to time on the Website, govern your use of the Website and Services, and comprise the entire agreement and understanding between you and the Company.


1.4.

The Company reserves the right to change, modify, remove and replace these Terms, including but not limited any Policy, at any time in its sole discretion without any prior notice. Any changes will be effective immediately upon being posted on the Website. It is your responsibility to review these Terms regularly. You will be deemed to have accepted any such changes or modifications that Company may make, by continuing to use our Services and access the Website.


1.5.

If at any time you do not agree with these Terms or with any subsequent amendments, changes, or updates, stop using Services and accessing the Website.


1.6.

As long as you agree to and comply with these Terms Company grants you personal, restricted, non-exclusive, non-transferable, non-sublicensable, revocable and limited licence which gives you a right to enter the Website and use the Services. Nothing in these Terms gives any licence, right, title, or ownership of, in, or to the Website or any of the Services.



2. Definitions

2.1.

Account is a profile registered by the Client on the Website to access the Services and that controls Client’s Funds and Transactions conducted with them, and that is not the bank account and the Funds held within will not earn any interest.


2.2.

AML policy - the Company’s rules of procedures that will help to identify and mitigate the risks of financial crimes, including money laundering and terrorism financing, and that form an integral part of these Terms and can be available at.


2.3.

Arbex platform is the functional part of the Website, operated by the Company, that offers Services of Virtual Currency wallet, exchanging Virtual Currencies and other services, offered by the Company.


2.4.

Applicable Law means Estonian laws, statutes and regulations, that are applicable under these Terms to the relationship between the Parties.


2.5.

Client means the account-holder (a natural person or legal entity, incorporated in an appropriate legal form as well as their representative and authorised person) that access or use Company services and meets the criteria and conditions stipulated by the Company.


2.6.

Exchange service means a service with the help of which a Client exchanges a Virtual currency against a Fiat currency and vice versa or a Virtual currency against another Virtual currency conducted through the Account.


2.7.

External Account means any Financial Account or Virtual Currency Account: (i) from which Client may load Funds into his Account (“Deposit”), and (ii) to which Client may transfer Funds from his Account (“Withdrawal”).


2.8.

Fee means the commission or other costs, charged by the Company for the use of Services.


2.9.

Fiat Currency is government-issued currency that is designated as legal tender in its country of issuance on the legislative level.


2.10.

Financial Account means any financial account owned, controlled or operated by a Client, that is maintained by a third party outside of the Services, including, but not limited to third-party payment service accounts or accounts maintained by third party financial institutions.


2.11.

Funds means Virtual Currency and/or Fiat Currency.


2.12.

Order means a Client's offer to exchange Virtual Currency for other Virtual Currency or Fiat currency under certain conditions.


2.13.

Parties mean Company and the Client.


2.14.

Privacy Policy - the Company’s rules of personal data collection, storage, and use, forming an integral part of these Terms and can be available at.


2.15.

Rate means the exchange rate used by the Arbex platform for converting the values between Virtual Currency and/or Fiat Currency and vise versa.


2.16.

Transaction is the process of transferring, depositing, exchanging and/or withdrawing Virtual or Fiat currencies by the Client to/from his/her Account.


2.17.

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 and do not include digital representations of fiat currencies (e-money) or securities.


2.18.

Virtual currency Account means any Virtual Currency address or account owned, controlled or operated by a Client that is maintained outside of the Arbex platform, and is not owned, controlled or operated by the Company.


2.19.

Virtual currency wallet service means a service in the framework of which keys are generated for customers or customers’ encrypted keys are kept, which can be used for the purpose of keeping, storing and transferring Virtual currencies.


2.20.

Website means https://arbex.com, all subdomains and all their respective pages and documents available on the Website from time to time.



3. Arbex platform and services

3.1.

Company provides you with the following services, available through the Website and Arbex platform (hereinafter – the “Service(s)”):

  • i) Exchange a Virtual currency against a Fiat currency and vice versa;
  • ii) Exchange a Virtual currency against another Virtual currency;
  • iii) Virtual currency wallet services.

3.2.

To start using our Services you need to open an Account on the Website and undergo registration process as further described herein.


3.3.

You understand that by accessing your Account you have the ability to place various types of Orders and Transactions with respect to certain Virtual currencies that are supported by the Platform. You agree and acknowledge that any decision that you make to “Buy” or “Sell” Virtual/Fiat Currency is entirely your own, and is made without any investment advice from the Company. You further agree and acknowledge that your use of your Account and Service is and shall be only for your personal, non-commercial purpose.


3.4.

All exchange Transactions on your Account are carried out in accordance with the prevailing spot market exchange rate (OR market price) for the given trading pair (for example, BTC/USD) at the time by market order is executed and as displayed on the Website. Such Rate is accurate for the moment alone in which it’s displayed and may not reflect the final Rate applicable to your Transaction. You acknowledge and agree that such Rates do not reflect any rate or price quoted by any third party (e.g. other exchanges, conversion services and market data providers). The Rate is determined by the Company in such a way to include a certain margin between the “Buy” and “Sell” Rates, which constitutes fees from each Transaction.


3.5.

You agree and understand that any order that you place may fail and not be filled. A Transaction on the Arbex Platform may fail for several reasons, including but not limited to change in seller prices or unanticipated technical difficulties. Company makes no representation or warranty that any Transaction will be executed properly. Company is under no circumstances liable for any loss or injury suffered by a failure of an order of Transaction to complete properly or in a timely manner. Further, the Company is in no way responsible for notifying you of a transaction or order failure. You have full responsibility to determine and inquire into the failure of any Transaction the Clients initiates.


3.6.

Before using the Services, you have to deposit Funds to your Account by following Deposit instructions on your Account page. Please carefully read Deposit instructions.


3.7.

At the time of your Transaction order, the Company provides you with different channels for Fiat Currency payment, including without limitation, the bank wire transfers, credit or debit card payment, and other third party payment processors. Such channels enable transferts to and from your Financial account. Depending on the deposit method you chose different conditions will apply (e.g. commissions or proceeding time).


3.8.

You can withdraw your Funds at any time at your sole discretion as often as you’d like. There may be limits on the amounts that you are able to withdraw on a daily or other periodic basis. To withdraw your Funds, select the Withdraw tab located on the navigation bar, choose Fiat or Virtual Currency wallet, insert withdrawal amount, select withdrawal type and withdrawal method. Depending on the withdrawal method you chose different conditions will apply (e.g. commissions or proceeding time). You will only be able to withdraw Funds available after margin obligations have been met and any fees, commissions or other charges have been deducted.


3.8.1.

The Company reserve the right to carry out any necessary money laundering, terrorism financing, fraud, and/or other illegal activity checks before authorizing any deposit/withdrawal of Funds on your Account. For these purposes, we may request you to provide additional information (e.g. source of Funds, copy of your credit card or bank details) within the terms defined by us. We also reserve the right to conduct enhanced due diligence, when such deemed necessary by us.


3.9.

The Services associated with your Account include a wallet service provided by Company and/or third parties involved in the process (“Arbex Wallet”). Arbex Wallet aimed to exchange, store, and withdraw Virtual Currency. The Company securely stores all your private keys related to your Virtual Currencies holding on the Account.


3.10.

You acknowledge and agree that you will be responsible for ensuring that the address to which any Virtual Currencies are to be transferred is properly formatted and suitable for the type of Virtual currency being transferred. Otherwise, the Virtual Currencies may be permanently lost. The Company provides Services only for those Virtual currencies that are supported by the Arbex platform. Please, check the Website regularly to be aware of what Virtual currencies are supported.


3.11.

Please, note that the Company and third parties involved in the process are not able to reverse any transfers and will not have any responsibility or liability if you have instructed Company and third parties involved in the process to send Virtual currencies to an address that is incorrect, improperly formatted, erroneous or intended for a different type of Virtual currencies. Please, always check the accuracy of information provided for Withdrawal purposes.


3.12.

By providing us with your External Account(s) you represent and warrant that it is owned by you exclusively and is under your sole and full control. Company shall not be liable for the transfer of your Account to other External Account(s).


3.13.

The proceed speed for completing any Transaction will depend on the actions of third parties that are beyond the control of the Company, and the Company makes no guarantees as to the amount of time that may be required to complete any Transaction.


3.14.

You also acknowledge that certain restrictions may apply to Transactions of Virtual Currency based upon applicable laws and regulations in your jurisdiction that may restrict us from entering into certain Transactions with you, and you understand that we have the right not to enter into any Transaction with you.


3.15.

NOTE: the Company shall not accept transfers from any third party to your Account nor will Company execute any withdrawals, from your Account to any third party. All transactions to and from your Account should be in your own name.


3.16.

We may at our sole discretion to deny processing of any Transaction for any reason including, but not limited to, the following:

  • if we are required to do so by Applicable law, competent court order, or other competent authority;
  • we consider any such Transaction violates any provision of these Terms or Applicable law or put at risk the Company’s operation.

3.16.1.

The Company reserves the right to take any additional actions available to it under these Terms or Applicable law with respect to such Transaction.


3.17.

The Company will execute transactions on the Client’s behalf solely on Client instructions and this should not imply any advice or any approval or recommendation on the merits of such Transaction. Company is not required to explain any risks that may arise from a particular transaction as the Client has had an opportunity to seek independent financial advice.


3.18.

The transactions are carried out through the trading API Arbex platforms of the software provider.


3.19.

Further, you understand that the Company may make available to you additional or ancillary services in order to facilitate the functionality of your Account and that any such additional services shall be offered to you in Company’s sole discretion.



4. Account registration

4.1.

In order to open an Account, you will be required to provide your real name, email address and password (“Login Credentials”), read and accept these Terms (including Privacy Policy) and proceed with registration as shall be further described herein. Company is under no obligation to open an Account with any individual or legal entity, even if all information has been provided.


4.2.

IMPORTANT: you are personally responsible for any use of the Service with your Login Credentials and to ensure it is kept secure. You agree to take due care in protecting your Login Credentials against unauthorised access to your Account. Any actions on the Website, transactions, orders and operations initiated from your Account or using your Login credentials (1) will be considered to have been made by you, and (2) is irrevocable once validated using your password or made through your Account. The Company remains however free to request additional identification elements at any time to verify your identity.


4.3.

NOTE: The Company does not guarantee to provide you with any security alerts, and the Company shall not be held liable for not providing any alerts. In no event will the Company be held responsible for any damages or losses which you may sustain as a result of unauthorised access to the Account. Please, contact support@arbex.com immediately if you become aware of any unauthorised use of your Account, or any other breach of security.


4.4.

The Company provides you with the ability to use advanced security features for your Account (including without limitation two-factor authentication). If you enable advanced security features, you are solely responsible for maintaining the security of any device or account that may be associated with advanced security features.


4.5.

Once your account is approved and successfully opened you may start using Services according to the limits as per your verification level.


4.6.

You are only allowed to create one Account on the Arbex platform and you are not allowed to sell, borrow, share or otherwise make available your Account or any detail necessary to access your Account to any person other than yourself. If you create more than one account it is considered as a violation of these Terms and may lead to the blocking or removal of one or more of your accounts, unless expressly permitted by the Company.


4.7.

You also acknowledge and agree that the Company, in its sole discretion, may suspend or terminate your, and refuse any and all current and future, access to or use of your Account at any time without notice to you.


4.8.

By opening Account, you represent and warrant:

  • for a natural person - that you are of legal age (at least 18 years old) and have the full capacity to accept these Terms and laws of your country do not prohibit the use of the services on https://arbex.com/. It is fully your responsibility to follow the rules and regulations of country of your residence or from which you enter and use the Website and/or services offered by Company;
  • for legal entities - that legal entity (1) is incorporated in an appropriate legal form and (2) the representative has the requisite power and authority to sign and enter into binding agreements for and on behalf of the legal entity;
  • that you have not previously been suspended or removed from using the Company Services;
  • that you are not residing or incorporated in countries and territories that we do not support;
  • that you are not listed in any trade or economic sanctions lists;
  • that all Funds on your Account are legally obtained by you and belong to you;
  • that you will not be in violation of public interests, public ethics or other’s legitimate interests, these Terms, any Applicable Law and/or any foreign laws and regulations or relevant rules;
  • that you will not use Website and Services to breach any applicable laws in your jurisdiction concerning the use of Virtual Currency, or to disguise the proceeds, or to deal in any contraband Virtual Currencies, or funds, or proceeds;
  • you will not create a false identity or impersonate another person or legal entity in any way;
  • that you will not constitute evasion of paying taxes or fees and will fairly and promptly report all income associated with your activity on the Website;
  • any and all your activities will be in compliance with the requirements of Applicable law, any other laws and regulations that may apply, as well as all Company instructions;
  • you will not use your Account for illegal purposes and activities, which may include but is not limited to money laundering, terrorism financing, human, drug, weapon, and sex trafficking;
  • you will not use the Website or any Services to detrimental to Company or to any other Website Client or any other third party;
  • you will not hack into, interfere with, disrupt, disable, overburden or otherwise impair the proper working of the Website;
  • you will not violate or attempt to violate the security of the Website;
  • you will not access information or data which you are not authorised to access;

4.9.

If there is suspicious activity related to your Account, we may, but are not obligated to, request additional information from you, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests or accept termination of your Account.


4.10.

You are absolutely liable and responsible:

  • for maintaining the confidentiality of your Account information, including your password, login, keys, bank and any other financial information;
  • for all your trading and non-trading activities on the Website and for your Account;
  • for all your financial and non-financial obligations on the Website and for your Account;
  • safeguarding your own Virtual Currencies, and all activity including transactions that are posted to your Account;

4.11.

If you violate the foregoing promises and thereby cause any legal consequence and/or if your alleged violation causes any losses to a third party, you shall solely undertake all the legal liabilities in your own name and hold Company harmless from any loss, fine or extra expenses. If, due to any alleged violation Company incurs any losses, is claimed by any third party for compensation or suffers any punishment imposed by any administrative authorities, you shall indemnify Company against any losses and expenses caused thereby, including attorney’s fee.


4.12.

The Client acknowledges and agrees that certain software components such as coding algorithms may be subject to import and export restrictions in certain countries and by accessing the Services through the Internet, it may infringe laws and/or regulations applicable in such countries. The Client undertakes to inform himself and assumes sole liability for risks implied by foreign legislation. Company shall bear no liability whatsoever for the infringement of foreign laws and/or regulations when the Client is using the Services through the Internet.


4.13.

NOTE: The access to the Service from jurisdictions where the contents or practices of the Service are illegal, unauthorized or penalized is strictly prohibited. You may not be able to use any or all Services if you use or have access to them from countries that we do not support and/or you are on any trade or economic sanctions lists. It is your responsibility to follow all applicable rules and laws in your country of residence and/or country from which you access this Website and Services. The Company reserves the right to choose markets and jurisdictions to conduct business, and may restrict or refuse, in its discretion, the provision of Services in certain countries or regions.



5. Compliance

5.1.

During the verification process, the Company will collect personal and financial information. We will collect, use and share such information in accordance with our Privacy Policy (please, read our Privacy Policy). You acknowledge that the Company will perform Know Your Customer (“KYC”) and Anti-money laundering (“AML”) checks procedures on all Clients that establish an Account, as required by Applicable Law, as well as Company’s internal policies and procedures (please, read our AML policy). That means that the Company has certain responsibilities to verify the identity of Clients and may need to make certain enquiries and obtain certain information from you for that purpose. While there is no obligation to provide such details, this may mean that an application is declined.


5.2.

By accepting these Terms, you agree to provide the Company with all information which is necessary to complete verification and compliance processes for AML/KYC purposes. The Company may at any time request you to provide additional documents and information and/or updated documents and/or information and documents submitted before and reserves the right to do so in its sole discretion. We also reserve the right to require certified or notarized copies at your expense. In addition to documentation, we may also choose to verify your identity through a video and/or audio chat and/or call conference.


5.3.

You also confirm that all information supplied will be accurate and consents to us passing on such information as we consider necessary to comply with our AML/KYC and/or reporting requirements. You will update the information about yourself promptly, and as necessary, to keep it current and accurate. You are obliged to notify the Company immediately if there are changes, mistakes or errors in the information or documents that you provided earlier at support@arbex.com.


5.4.

You acknowledge and agree that in order to conduct such verification process and/or background checks, in accordance with our KYC procedure and AML policy, we may perform inquiries, directly or indirectly through third party service providers to prevent fraud, suspicious activity, misidentification, money laundering or any other prohibited activity. We reserve the right to take any action we deem necessary with respect to the outcome of such inquiries.


5.5.

In the event that you fail our internal compliance and AML/KYC reviews for any reason, you may be prevented from using our Services, accessing the Website, and/or we may limit or suspend your use of the Services and/or Website at any time. You understand that the outcome of such AML/KYC reviews, including a decision not to approve you to use our Services, is within the Company’s sole and absolute discretion, and we are under no obligation to provide feedback on the exact nature of our findings.



6. Suspension and termination

6.1.

The Company shall be entitled to suspend your Account and/or access to the Services in the following cases:

  • you fail to submit to the Company requested information and/or documents within time indicated in such a request;
  • you have provided the Company with false, incomplete, inaccurate or misleading information or invalid, fake documents;
  • the Company has reasonable doubts regarding origin of the Funds on your Account;
  • the Company has reasonable doubts regarding reasonability, purpose or legality of your Transactions;
  • the Company suspects that money laundering or terrorist financing has been or is intended to be carried out via your Account;
  • the Company suspects that you violate Terms herein or the Applicable law;
  • the Company suspects that your Account is being used by other persons with no authorization from you to do so;
  • the Company is obliged to do so in accordance to the Applicable law;
  • on any other grounds if Company shall see it necessary to protect your and/or Company and/or Company’s clients interests.

6.1.2.

In certain cases, depending on the grieve of the situation, the above circumstances may result in unilateral termination of your Account by the Company with an immediate effect.


6.1.3.

Depending on the reason that led to the suspension, Company may explain circumstances in relation to the suspension of your Account and respectively provide you with instructions how to cure the situation at hand, unless Company shall not be entitled to do so under the Applicable law.


6.1.4.

The suspension of an Account shall not affect the payment of Fees due for past Transactions.


6.1.5.

The Company shall not be held responsible for any of the Client’s loss or damages suffered by the Client in relation to suspension on use of Services provided Company had a grounded reason to suspend the Client’s use of the Services.


6.1.6.

In an event the Company suspects you of violating the AML Policy, we shall report such behavior and disclose relevant personal information to relevant authorities in accordance with the Applicable Law.


6.2.

You may terminate your Account at any time by submitting your request to terminate your Account at support@arbex.com.


6.2.1.

The Company may terminate your Account immediately without notice to you and without any liability to you or any third party if messages sent to the e-mail address you provide are returned as undeliverable.


6.2.2.

Termination does not affect the existing Client’s rights and obligations. If the Client has unpaid charges and liabilities owed to Company all remaining balance on the Account will be payable at once to the Company. The rest of the remaining balance in the Client’s Account can be withdrawn by the Client to External accounts opened in the Client’s name.


6.2.3.

In an event of Account closing or suspension Client shall compensate Company for any and all fees, losses, expenses, disbursements and commissions, otherwise the Company may engage collection services to recover payments.


6.2.4.

Upon termination, Clients shall send details of a valid Financial account in their name to allow for the transfer of any Fiat currencies credited to their Account. Virtual Currencies may also be transferred to a valid Financial account only after conversion into a Fiat currency. Company shall transfer the currencies as soon as possible following the Client request and within the time frames specified by Company.


6.2.5.

The Company will send you the credit balance of your Account; however, in certain circumstances, a number of intermediaries may be involved in an international payment (such as correspondence banks) and these or the beneficiary bank may deduct charges. We will make all reasonable efforts to ensure that such charges are disclosed to you prior to sending your payment; however, where they cannot be avoided, you acknowledge that these charges cannot always be calculated in advance and that you agree to be responsible for such charges.


6.2.6.

Upon Account closure, any amount less than USD 5 in value will not be returned.


6.2.7.

Company reserves the right to not convert Virtual Currencies into Fiat and to return them to a Virtual currency account that belongs to the Client.



7. Fees

7.1.

Each Transaction is subject to Fees paid to the Company at the time the order is executed and in accordance with the fee schedule.



For the provision of the Services, the Company shall directly debit fees from your Account on automatically basic. Fees vary according to the type of transaction performed by the Company. The applicable Fee will be displayed before the transaction execution and will be subjected to your approval.


7.2.

The Company reserves the right to amend the Fee structure at any time in its sole discretion. We will notify you about any changes in Fee structure in accordance with Section 17 of these Terms.


7.3.

Fees are paid in a Virtual Currency that corresponds to the respective Service.


7.4.

NOTE: All Transactions in Virtual Currency are subject to the blockchain commission charged by the appropriate blockchain network and will not be reflected on the transaction screens containing information regarding applicable Fees.


7.5.

All Fees paid are non refundable once incurred. All Fees are exclusive of any sales or other applicable taxes, for which you will be responsible.



8. Cancellations and refunds

8.1.

By using our Services, you acknowledge and agree that all transactions using Virtual Currencies are final and due to the nature of Virtual Currency transactions they are non-cancelable, not-refundable, and you cannot change or reverse any transaction - whether completed or pending.


8.2.

In respect to the Transactions using Fiat Currency, the Company, in its sole discretion, without any obligation whatsoever, may endeavor to comply with a request from you to cancel a transaction on your Account. The order to exchange Virtual Currency can be canceled by the Company in an event of a technical fault of the Platform.


8.2.1.

Subject to Applicable law and regulation, in the event the Company cancels your “Buy” (exchange order) order after having received Fiat Currency from you with regards to such order, the Company will refund such Funds to the same Financial account from which the Funds have originated minus any costs or expenses incurred with regards to such refund, including without limitation any bank charges, currency exchange charges and/or payment processing charges. Your Funds may, at Company’s sole discretion, be returned to another Financial account in your name, as long as you provide us with the required documents and information to verify that the account to which the Funds were requested to be refunded belongs to you.


8.2.2.

With respect to cancellation of your “Sale” order after having received Virtual Currency from you, the Company will credit you with such Virtual Currency minus applicable transaction costs and expenses. Any return for a canceled transaction shall be at an exchange rate determined in the Company's sole reasonable discretion.


8.3.

The Company reserve the right to carry out any necessary money laundering, terrorism financing, fraud, and/or other illegal activity checks before authorizing any refund of Funds on your Account. In such a case, the Company, at its sole discretion, may request from you to provide certain documents and information, including but not limited to identification documents, copy of your credit card or bank details and/or any other proof required to affect the refund. In case you fail to provide appropriate documents or information, or in case of any doubts as to the authenticity of provided documents and information, the Company shall be entitled to cease the refund procedure until you take appropriate measures, as requested.


8.4.

Notwithstanding the above, the Company reserves the right to cancel your order without any refund, or decline any refund request, if it suspects that you have or are engaged in, or have in any way been involved in, fraudulent or illegal activity.



9. Disclaimer of warranties /limitation of liability

9.1.

CLIENT UNDERSTANDS AND ACKNOWLEDGES TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW AND EXCEPT AS OTHERWISE EXPRESSLY SPECIFIED IN WRITING BY THE COMPANY, THAT THE USE OF THE SERVICES AND THE WEBSITE IS PROVIDED “AS IS'' AT THE CLIENT’S SOLE RISK AND NEITHER COMPANY NOR ANY OF ITS OFFICERS, EMPLOYEES, AGENTS, AUXILIARIES, ETC. MAKES ANY REPRESENTATION OR WARRANTY OF ANY KIND WHATSOEVER REGARDING THE WEBSITE AND SERVICES PROVIDED PURSUANT TO THIS TERMS, INCLUDING (WITHOUT LIMITATION) ANY REPRESENTATION OR WARRANTY AS TO (i) THE CURRENCY, ACCURACY OR COMPLETENESS OF THE SERVICES, WEBSITE AND THEIR CONTENT; (ii) THE CONTINUITY AND UNINTERRUPTABILITY OF THE SERVICES PROVIDED THROUGH WEBSITE; (iii) THE SECURITY OF THE SERVICES, THEIR INTEGRITY OR THE ABSENCE FROM THE SERVERS FROM WHICH THEY ARE MADE AVAILABLE OF VIRUSES, TROJAN HORSES, WORMS, SOFTWARE BOMBS OR SIMILAR ITEMS OR PROCESSES OR OTHER HARMFUL COMPONENTS; (iv) THE RESULTS TO BE OBTAINED BY THE CLIENT OR ANY THIRD PARTY FROM THE USE OF THE SERVICES; (v) THE ABILITY OF THE SERVICES TO MEET THE CLIENT’S REQUIREMENTS, (v) THAT DEFECTS IN THE SERVICES, SOFTWARE OR WEBSITE WILL BE CORRECTED AND (V) ANY THIRD PARTY CONTENT ACCESSIBLE THROUGH THE WEBSITE AND SERVICES.


(b)

YOU ACKNOWLEDGE THAT INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES MAY BECOME IRRETRIEVABLY LOST OR CORRUPTED OR TEMPORARILY UNAVAILABLE DUE TO A VARIETY OF CAUSES, INCLUDING SOFTWARE FAILURES, PROTOCOL CHANGES BY THIRD PARTY PROVIDERS, INTERNET OUTAGES, FORCE MAJEURE EVENT OR OTHER DISASTERS, SCHEDULED OR UNSCHEDULED MAINTENANCE, OR OTHER CAUSES EITHER WITHIN OR OUTSIDE OUR CONTROL. YOU ARE SOLELY RESPONSIBLE FOR BACKING UP AND MAINTAINING DUPLICATE COPIES OF ANY INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES.


9.2.

THE COMPANY EXPRESSLY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES AND CONDITIONS INCLUDING (WITHOUT LIMITATION) WARRANTIES AND CONDITIONS AS TO (i) MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, (ii) THE USE OR RESULTS OF THE USE OF THE SERVICES WITH RESPECT TO THEIR CORRECTNESS, QUALITY, ACCURACY, COMPLETENESS, RELIABILITY, PERFORMANCE, TIMELINESS, CONTINUED AVAILABILITY, SECURITY FEATURES (INCLUDING WITH RESPECT TO THE ABILITY OF UNAUTHORISED PERSONS TO INTERCEPT OR ACCESS INFORMATION OR DATA TRANSMITTED BY THE CLIENT THROUGH THE SERVICES).


9.3.

NO ORAL ADVICE OR WRITTEN INFORMATION GIVEN BY THE COMPANY, ITS AFFILIATES, EMPLOYEES, LICENSORS, AGENTS OR REPRESENTATIVES WILL CREATE A WARRANTY; NOR MAY THE CLIENT RELY ON ANY SUCH INFORMATION OR ADVICE. THEREFORE, THE COMPANY ASSUMES NO LIABILITY IN THIS RESPECT.


9.4.

UNDER NO CIRCUMSTANCES WILL COMPANY, OR ITS AFFILIATES, EMPLOYEES, LICENSORS, AGENTS OR REPRESENTATIVES BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL CONSEQUENTIAL DAMAGES THAT RESULT FROM THE USE OF OR INABILITY TO USE THE SERVICES, INCLUDING BUT NOT LIMITED TO RELIANCE ON ANY INFORMATION OBTAINED THROUGH THE WEBSITE OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR E-MAIL, LOSS OF OR DAMAGE TO DATA, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION, OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT LIMITED TO ACTS OF GOD, COMMUNICATION FAILURE, THEFT, DESTRUCTION OR UNAUTHORISED ACCESS TO THE CLIENT’S RECORDS, PROGRAMS OR SERVICES. THE CLIENT HEREBY ACKNOWLEDGES THAT THIS PROVISION WILL APPLY WHETHER OR NOT THE COMPANY IS GIVEN NOTICE OF THE POSSIBILITY OF SUCH DAMAGES AND THAT THIS PROVISION WILL APPLY TO ALL SERVICES AVAILABLE FROM THE COMPANY.



FOR THE AVOIDANCE OF DOUBT, “DAMAGES” SHALL INCLUDE LOSS OF BUSINESS, OR LOSS OF PROFITS, WHETHER BASED ON BREACH OF TERMS, BREACH OF WARRANTY, PRODUCT LIABILITY, OR OTHERWISE, TO ANY PARTY IN PRIVY TO THIS AGREEMENT, OR ANY THIRD PARTY NOT SO SITUATED.



10. Indemnity

10.1.

You agree to defend, indemnify and hold harmless Company, its affiliates, service providers, and any of their respective employees, officers, directors, agents, joint ventures, and representatives from and against any third party claim, suit, demand, loss, liability, damage, action, proceeding or suits and related liabilities, damages, settlements, penalties, fines, costs or expenses (including reasonable attorneys' fees and other litigation expenses) arising out of or relating to:


10.1.1.

You agree to defend, indemnify and hold harmless Company, its affiliates, service providers, and any of their respective employees, officers, directors, agents, joint ventures, and representatives from and against any third party claim, suit, demand, loss, liability, damage, action, proceeding or suits and related liabilities, damages, settlements, penalties, fines, costs or expenses (including reasonable attorneys' fees and other litigation expenses) arising out of or relating to:


10.1.1.

your breach of provision contained in these Terms;


10.1.2.

your actions and omissions in connection with your Accounts or our Services;


10.1.3.

our actions and omissions, provided that they are taken/omitted in accordance with this Terms or your instructions; or


10.1.4.

your violation of any laws and regulations; or


10.1.5.

your negligent or reckless act or omission or willful misconduct of your employees, contractors, or agents.


10.2.

This indemnity shall apply whether or not the Company has been negligent or at fault. This provision shall survive the termination of these Terms.



11. Taxation

11.1.

You acknowledge that you bear the sole responsibility for any taxes applicable to your Transactions linked to your Account.


11.2.

By conducting Transactions to the extent permitted by Applicable law, you agree that the Company may be held liable for any Loss arising out of, or in any way connected to, any tax liability you may incur in connection with using our Services.


11.3.

The Company is not and will in no event be deemed as providing any tax advice or consultation.


11.4.

It is your responsibility to report and remit the taxes payable to the appropriate tax authorities.



12. Intellectual property

12.1.

Unless otherwise indicated by the Company, all copyright and other intellectual property rights in all Content and other materials contained on our Website or provided in connection with the Services, including, without limitation, logos and all designs, text, graphics, pictures, information, data, software, multimedia content and interactive features, other files and the selection and arrangement thereof (collectively, the “Content”) are the proprietary property of Company or our licensors or suppliers and are protected by Applicable Law and international copyright laws and other intellectual property rights laws.


12.2.

The Client is prohibited from reproducing, reprinting, publishing, modifying, distributing, displaying, transmitting, licensing, transferring or otherwise using the Content, as well as copying or distributing any intellectual property objects located on the Website or in the Arbex platform, except when such a function is directly assumed to be working conditions on the Website or in the Arbex platform.


12.3.

The Content on the Website is provided for information purposes only, is general in nature and not specific to you and use of the Services is solely at your sole discretion. The Content involves no investment, financial, trading, legal, tax, or any other advice of any kind. The Company is not responsible for any decision made by you that arises from its Content. Company has taken reasonable measures to ensure the accuracy of the information on the Website; however, it does not guarantee accuracy and will not accept liability for any loss or damage which may arise directly or indirectly from the Content or from your inability to access the Website, or for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this Website.



13. Privacy

13.1.

Personal information that you provide to us or that we collect about you in accordance with our AML Policy and Applicable law is governed by our Privacy Policy.


13.2.

Your personal data will be properly protected and kept confidential, but the Company has the right to collect, process, use or disclose your personal data in accordance with the Terms (including the Privacy Policy) or Applicable law. Depending on the services concerned, your personal data may be disclosed to law enforcement authorities, data protection authorities, financial regulators, financial service providers, governmental authorities and officials, and other authorized persons. The Company will cooperate with all law enforcement inquiries, subpoenas, or requests provided they are fully supported and documented by the law in the relevant jurisdiction.


13.3.

The Company may request additional information from the Client if such information is requiredbyApplicablelaworrequiredtoprovideanytechnicalsupportrequestedbythe Сlient.



14. External sites

14.1.

he Service may contain links to or the ability to share information with third party websites (“External Sites”). The Company does not endorse any External Sites or the content made available on such External Sites. All External Sites and any content thereon is developed and provided by others. You should contact the site administrator or Webmaster for those External Sites if you have any concerns regarding such content located on such External Sites. The Company is not responsible for the content of any External Sites and does not make any representations regarding the content or accuracy of any materials on such External Sites. You should take precautions when downloading files from all websites to protect your computer and mobile devices from viruses and other destructive programs. If you decide to access any External Sites, purchase any content from External Sites or subscribe to services offered by such External Site, then you do so at your own risk.


14.2.

TO THE FULLEST EXTENT PERMITTED BY LAW, YOU AGREE THAT COMPANY WILL HAVE NO LIABILITY TO YOU ARISING FROM YOUR USE, ENGAGEMENT, EXPOSURE TO OR INTERACTION WITH ANY EXTERNAL SITES. FURTHERMORE, COMPANY DOES NOT WARRANT, GUARANTEE OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE ADVERTISED OR OFFERED BY A THIRD PARTY THROUGH THE SERVICE OR ANY EXTERNAL SITE, AND, EVEN IF COMPENSATED, WHETHER FOR A FIXED FEE OR VIA CPC, CPM, CPA OR OTHER BASIS, IN NO WAY SHALL COMPANY BE CONSIDERED A PARTY TO OR IN ANY WAY HAVE RESPONSIBILITY TO MONITOR OR WARRANTY ANY TRANSACTION BETWEEN YOU AND ANY THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.



15. Notice provisions

15.1.

All notifications hereunder shall be sent directly to the "Client" by electronic means to email address linked to your Account. You and Company hereby acknowledge that remittance via e-mail is sufficient in each case to fulfill requirements for written notice and hereby waive any claim to the contrary.


15.2.

Client shall immediately notify Company of changes to its e-mail address, otherwise, all communications sent to the last known email address for the Client shall be treated as valid notice of their contents.


15.3.

Company may notify you about any material changes of these Terms and /or with respect to the Services by sending notice to your email address, or by a posting on the Website, or by both (if appropriate). Notices shall become effective immediately upon being sent by the Company's email server.


15.4.

Notice from the Customer shall be submitted via notification of service forms on the Website or by e-mail to: support@arbex.com, and is effective upon submission on the Website or when by the Client’s email server to the Company email address herein.


15.5.

Please be aware that all official announcements, news, promotions, competitions and airdrops (“Announcements”) will be listed on the Website where the Company urges all Clients to refer to regularly. The Company will not be held liable or responsible in any manner of compensation should Client incur personal losses arising from ignorance or negligence of the announcements.



16. Dispute resolution

16.1.

The Client shall communicate any complaint in writing to the Company.


16.2.

The Company shall investigate any written complaint, if sufficiently documented, and communicate its position to the Client.


16.3.

Parties shall make every endeavour to amicably resolve any dispute, in good faith and in a constructive manner. The Client acknowledges and agrees that threats and blackmailing towards the Company are prohibited and constitute valid grounds for interrupting negotiations and for immediate termination of any business relationship.


16.4.

In case the Parties fail to reach an agreement on the dispute within 30 (thirty) calendar days, the dispute shall be submitted to the competent court in the Republic of Estonia.

17. Governing law

17.1.

These Terms are construed in accordance with and shall be governed by the laws of the Republic of Estonia.


17.2.

Each party irrevocably agrees that the courts of Estonia shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with these Terms, use of the Website, and the Services provided or their subject matter or formation (including non-contractual disputes or claims).



18. Miscellaneous

18.1.

Complete agreement. These Terms (together with the documents referred to in it and/or published from time to time on the Website), constitute the entire agreement between you and the Company and supersede all prior and contemporaneous understandings between the Parties regarding the Services. To the extent these Terms document conflict with the Website or any other document, these Terms prevail. To the extent that these Terms, any documents published from time to time on the Website conflict with translated copies, the English version prevails.


18.2.

No waiver. The failure of the Company to require or enforce strict performance of any provision of these Terms or the Company’ failure to exercise any right under these Terms shall not be construed as a waiver or relinquishment of the Company’ right to assert or rely upon any such provision or right (or any other provision and/or right contained this document in its entirety, as the case may be) in that or any other instance. The express waiver by the Company of any provision, condition, or requirement of these Terms shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement. Except as expressly and specifically set out in these Terms, no representations, statements, consents, waivers, or other acts or omissions by the Company shall be deemed a modification of these Terms or be legally binding.


18.3.

Severability. The invalidity or unenforceability of any of these Terms will not affect the validity or enforceability of any other of these Terms, all of which will remain in full force and effect.


18.4.

Force Majeure Events.The Company shall not be liable in any way for any delay or failure in performance required hereunder and completing the services if caused by reason of any occurrence or contingency beyond its reasonable control, including, but not limited to, acts of God, acts of war, fire, insurrection, strikes, lock-outs or other serious labor disputes, riots, earthquakes, floods, accident, action of government, communications, power failure, or equipment or software malfunction, explosions or other acts of nature. By using the Services to the extent permitted by Applicable law, you agree that Company holds no liability for any Loss arising out of, or in any way connected to, any force majeure event.


18.5.

Assignment. You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from the Company, including by operation of law or in connection with any change of control. The Company may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.


18.6.

Risks. You are further acknowledging that you are aware of the risks associated with the use of the Services and with engaging in Transactions in Virtual Currencies, including, but not limited to, the risks of financial losses, technology failures (including, but not limited to, problems with blockchain technology), hacking, the possibility changes in political and / or economic conditions that may materially affect the price or liquidity of the Virtual Currency and any other risks associated with the use of Virtual Currency. Prices rise and fall and past performance are not indicative of future results. You should carefully consider whether exchanging or holding Virtual Currencies is suitable for you in light of your financial condition.



NOTE. The Company is not and is not responsible for the loss of Funds in your account.


18.7.

Terms. As between you and Company, these Terms commence as of your first use of the Website and/or Services and continue until the termination of these Terms by either you or the Company. Company may terminate these Terms at any time in its sole discretion and without notice and explanations.


18.8.

No partnership. You agree that no joint venture, partnership, employment or agency relationship exists between you and The Company as a result of this Terms or use of the Service.


18.9.

If you have any comments, questions, or complaints, please contact us at support@arbex.com.