This summary of our Terms of Service offers you an overview of the key terms that apply to your use of our website and mobile applications. We hope this section is helpful, you should read the complete Terms of Service below since they provide important information about how our services work. Please note that we refer to our online service where you can execute trades and access our services as "EXEX".
EXEX provides you with a platform that matches your trades with open orders from other users of our services at your direction. Users are not able to predetermine a trade with a particular user or with a particular account. Additionally, an order may be partially filled or may be filled by multiple matching orders.
EXEX provides you with a simple way to trade legal tender (such as U.S. dollars and euros) for digital assets (such as Bitcoins and Ethereum) and vice versa, and to trade one type of digital asset for another type of digital asset. You may also use our services to purchase and sell digital assets directly from and to us. Additionally, the range of services available to you may depend on the country.
- 1.1.Communications shall mean all and any communication, agreement, document, receipt, notice and disclosure, which may from time to time be addressed to the User by EXEX.
- 1.2.Crypto assets shall mean such type of assets which can only and exclusively be transmitted by means of blockchain technology, including but not limited to digital coins and digital tokens and any other type of digital mediums of exchange, such as Bitcoin, Ethereum, Ripple, etc, to the full and absolute exemption of the securities of any kind.
- 1.3.Deposit/Withdrawal of crypto assets shall mean the remittance of crypto assets to/from an EXEX Account and from/to external third-party services accordingly.
- 1.4.Futures are futures contracts between two Users that obligate a User to buy or sell an asset at a specific time, quantity and price.
- 1.5.An EXEX Account is a User account accessible after the registration process and via the services where crypto assets may be stored and operated by EXEX on behalf of a User.
- In order to engage in any trades via the services, you must create an EXEX Account and provide any requested information. When you create the Account, you agree to:
- 1.create a strong password;
- 2.provide accurate and truthful information;
- 3.maintain and promptly update your EXEX Account information;
- 4.maintain the security of your EXEX Account by protecting your password and restricting access to your EXEX Account;
- 5.take responsibility for all activities that occur under your EXEX Account and accept all risks of any authorised or unauthorised access to your EXEX Account, to the maximum extent permitted by law.
- 1.6.EXEX IP shall mean all and any copyright and other intellectual property rights in all content and other materials contained on the Technology Platform or provided in connection with the services, including, without limitation, the EXEX name, trademark, EXEX logo and all designs, text, graphics, pictures, information, data, software, technologies, know-hows, sound and video files, other files and the selection and arrangement thereof.
- 1.7.Margin Facilities means the revolving crypto asset credit facilities are to be made available from time to time by Technology Platform to the User subject to the provisions hereunder, and the specific terms agreed between Technology Platform and the User from time to time and includes all amounts debited to the Margin Balance. The purpose of the Margin Facilities is to finance the acquisition or holding of crypto assets.
- 1.8.Margin means the crypto assets of the User which are or shall at any time hereafter be required, as determined by the Technology Platform, to be deposited with, transferred or caused to be transferred to or held by the Technology Platform or its nominee as collateral under the Margin Balance or for Futures Trade.
- 1.9.Margin Limit means such percentage of the Market Value of the crypto assets up to which the User is permitted to borrow (or otherwise to secure other forms of crypto accommodation) from the Technology Platform against the Margin.
- 1.10.Third-party service is any platform or network in which crypto assets belong to you or where you are the beneficial owner of crypto assets; or any website or platform which we redirect you to; and this platform or website is maintained by a third-party outside of the services; including, but not limited to third-party accounts.
- 1.11.Trade shall be understood as an exchange of the crypto asset of one type or Futures, owned by one EXEX Account User, to the crypto asset of another type or Futures, owned by the same or another EXEX Account User, at the Terms and Conditions set forth by such exchange parties.
- 1.12.Transfer for the purposes herein shall mean a record of Deposit, Withdrawal and/or Trade transaction of crypto asset into, out of or on the User’s EXEX Account, which is technically executed by EXEX in accordance with a Deposit/Withdrawal request or Trade order made by the User, authorised third-party or competent authority.
2.Warranties, rights and responsibilities
- 2.1.It is a pre-condition that our services are only provided to those who are permitted to enter into legally binding relationships. Therefore, if there is any reason why you are not able to enter into legally binding relationships with us, for whatever reason - do not use our services.
- 2.2.You further represent and warrant that you:
- a.are at least 18 years old or of other legal age, according to your relevant jurisdiction;
- b.have not previously been suspended or removed from our services;
- c.have full power and authority to enter into this legal relationship and by doing so will not violate any other legal relationships;
- d.use our Technology Platform with your own email address and for your own benefit and do not act on behalf of and/or to the interest of any other person;
- e.guarantee that your crypto assets, which you transfer to the Technology Platform are not sold, encumbered, not in contention, or under seizure, and that neither exist any rights of third parties to your crypto assets;
- f.are not Politically Exposed Person (PEP) or family member or close associate of the PEP. PEPs (as well as family members or close associates of the PEPs) are not allowed to use EXEX's Technology Platform. In the case where EXEX establishes that the User of the Technology Platform is a PEP (as well as a family member or close associate of the PEP), EXEX reserves the right to terminate the EXEX Account of such a User. For the purpose of this Terms, the definitions "Politically Exposed Person", "family member" and "close associate" have the meaning, as it defines in (i) the FATF Recommendations (International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation) – available via http://www.fatf-gafi.org/media/fatf/documents/reco... Recommendations 2012.pdf and (ii) FATF Guidance on Politically Exposed Persons (Recommendations 12 and 22) – available via http://www.fatf-gafi.org/media/fatf/documents/recommendations/Guidance-PEP-Rec12-22.pdf;
- g.will not use our services or will immediately cease using those if you are a resident or become a resident at any time of the state or region (in accordance with such state or region definition of residency), where the crypto assets transactions you are going to execute are prohibited or require special approval, permit and/or authorisation of any kind, which EXEX has not obtained in this state or region. Notwithstanding the above, you are not in any case allowed to access and use our services if you are located, incorporated or otherwise established, or a citizen or resident of: the United States of America, North Korea, Sudan, Crimea and Sevastopol, Cuba, Syria, Ontario, or any state, country or other jurisdiction that is embargoed by the United States of America, a jurisdiction where the local Applicable Law prohibits or will prohibit you at any time (by reason of your nationality, domicile, citizenship, residence or otherwise) to access or use the services or the Technology Platform (hereinafter, together “The Restricted Jurisdictions”).
EXEX reserves the right to close any of your EXEX Accounts, to liquidate any open trade positions, and to force you to withdraw all the crypto assets from the Technology Platform in the case where: (i) EXEX determines that you are accessing the services or the Technology Platform from any Restricted Jurisdiction, or (ii) you have given false representations as to your location of incorporation, establishment, citizenship or place of residence. For the purpose of this clause "Applicable Law" refers to all applicable laws of any governmental authority, including, without limitation, federal, state and foreign securities laws, tax laws, tariff and trade laws, ordinances, judgments, decrees, injunctions, writs and orders or like actions of any governmental authority and rules, regulations, orders, interpretations, licences, and permits of any federal, regional, state, county, municipal or other governmental authority.;
- 2.3.When accessing or using the Technology Platform, you further represent, agree and warrant, that you will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Technology Platform. Without prejudice to the generality of the foregoing, you represent, agree and warrant, that you will not:
- a.Use the Technology Platform in any manner that could interfere with, disrupt, negatively affect or inhibit other users from using our Technology Platform with full functionality, or that could damage, disable, overburden or impair the functioning of Technology Platform in any manner;
- b.Use the Technology Platform to pay for, support or otherwise engage in any illegal gambling activities; fraud; money laundering; or terrorist activities; or any other illegal activities;
- c.Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access the Technology Platform or to extract data;
- d.Use or attempt to use another User Account without authorisation;
- e.Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Technology Platform that you are not authorised to access;
- f.Develop any third-party applications that interact with our Technology Platform without our prior written consent;
- g.Provide false, inaccurate, or misleading information;
- h.Encourage or induce any third-party to engage in any of the activities prohibited under this Section.
- 2.4.You agree that all investment and trading operations conducted on the Technology Platform represent your true investment and trading intentions and that you unconditionally accept the potential risks and benefits of your investment and trading decisions.
- 2.5.YOU INDEMNIFY AND HOLD EXEX LTD. HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH INVALIDITY OR BREACH OF ANY OF THE WARRANTIES, REPRESENTATIONS AND COVENANTS OF THIS SECTION AND THE ENTIRE TERMS.
- 2.6.EXEX IS NEITHER THE CREATOR, NOR THE ADMINISTRATOR OF ANY FIAT PROVIDER ON THE PLATFORM. THEREFORE EXEX IS NOT RESPONSIBLE FOR PROVIDING, SETTING OR CONTROLLING THE FEES APPLICABLE TO ANY OF THE FIAT-CRYPTO EXCHANGE SERVICES OR PRODUCTS WHICH YOU FIND AND USE VIA OUR PLATFORM. IT MERELY ACTS AS AN AGGREGATOR LANDING PLATFORM FOR THE VARIOUS FIAT PROVIDERS INTEGRATING THE APIS OF THOSE PROVIDERS. ALL FIAT TRADING CAPABILITIES AND SERVICES TAKE PLACE IN ACCORDANCE WITH AND ARE SUBJECT TO THE POLICIES AND TERMS OF THE SAID FIAT PROVIDERS AND YOU HAVE TO ACCEPT THEIR TERMS AND CONDITIONS IN ORDER TO MAKE A FIAT EXCHANGE.
- 2.7.You confirm that you have read, fully understood and accepted the Risk Disclosure Statements set out herein.
3.Crypto assets protection
- 3.1.We strive to protect your crypto assets from unauthorised access, use, or spending. We use a variety of physical and technical measures designed to protect our systems and your crypto assets. By remitting your crypto assets to you EXEX Account you entrust and entitle us to ultimately take decisions on the safety and security of your crypto assets.
- 3.2.We reserve the right to take different measures of protection, which include, but are not limited to a diversification of crypto assets in different allocations whether on a segregate record (Account) or not.
- 3.3.Nothing herein shall be deemed or construed as a willingness to a seizure of your crypto assets. The main purpose of this section is to notify you about different measures of protection, that we use to keep your crypto assets safe.
- 4.1.Consent to Electronic Delivery. You agree and consent to receive electronically all Communications, that EXEX may be willing to communicate to you in connection with your EXEX Account and/or use of the EXEX Services. You agree that EXEX may provide these Communications to you by posting them via the Technology Platform, by emailing them to you at the email address you provide, and/or by sending an SMS or text message to a mobile phone number that you provide. Your carrier's normal, messaging, data and other rates and fees may apply to any mobile Communications. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy. You may also contact us through support firstname.lastname@example.org to request additional electronic copies of Communications or, for a fee, paper copies of Communications.
- 4.2.Withdrawal of Consent. You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support. If this is a case you waive your right to plead ignorance. If you decline or withdraw consent to receive electronic Communications, EXEX may suspend or terminate your use of the Technology Platform.
- 4.3.Updating Contact Information. It is your responsibility to keep your email address on file with EXEX up to date so that EXEX can communicate with you electronically. You understand and agree that if EXEX sends you an electronic Communication but you do not receive it because your email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, EXEX will be deemed to have provided the Communication to you. You waive your right to plead ignorance. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add EXEX to your email address book so that you will be able to receive the Communications we send you. If your email address becomes invalid in such a way that electronic Communications sent to you by EXEX are returned, EXEX may deem your Account to be inactive, and you may be not able to complete any transaction via the Technology Platform.
- 5.1.Transfer confirmation. Once your Deposit/Withdrawal request or Trade order is executed, a confirmation will be made available electronically via the Technology Platform detailing the particulars of the Transfer. You acknowledge and agree that the failure of the Technology Platform to provide such confirmation shall not prejudice or invalidate the terms of such transaction.
- 5.2.Conditions and Restrictions. We may, at any time and at our sole discretion, refuse to perform any Transfer requested via the Technology Platform, impose limits on the Transfer amount permitted via the Technology Platform or impose any other conditions or restrictions upon your use of the Technology Platform without prior notice.
- 5.3.Access to the Services. We may, at our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services.
- 5.4.No financing obligation. You fully agree and accept, that the Technology Platform will not at any time be obliged to provide or continue to provide any Margin Facility to You.
- 5.5.Cancellations. You may only cancel a Transfer request initiated via the Technology Platform if such cancellation occurs before EXEX executes the Transfer. Once your Transfer request has been executed, you may not change, withdraw or cancel your authorisation for EXEX to complete such Transfer. If a Trade order has been partially filled, you may cancel the unfilled remainder unless the order relates to a market rate Trade. We reserve the right to refuse any cancellation request associated with a market rate Trade order once you have submitted such order. While we may, at our sole discretion, reverse a Trade under certain extraordinary conditions, a customer does not have a right to a reversal of a Trade.
- 5.6.Insufficient Crypto Assets. If you have an insufficient amount of crypto assets in your EXEX Account to complete a Transfer via the Technology Platform, we may cancel the entire order or may fulfil a partial order using the amount of crypto assets currently available in your EXEX Account, less any fees owed to EXEX in connection with our execution of the Transfers.
- 5.7.Forced position change. You agree and authorise EXEX to take various reasonable measures with discretion (including but not limited to forced liquidation and forced position reduction under specific circumstances) to protect your legitimate interests, the Technology Platform and other users.
- 5.8.Taxes. It is your responsibility to determine what, if any, taxes apply to the Transfers you complete via the Technology Platform, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that EXEX is not responsible for determining whether taxes apply to your transfers or for collecting, reporting, withholding or remitting any taxes arising from any Trades and Transfers and does not act as your tax agent.
- 5.9.Feedbacks. We own exclusive rights, including all intellectual property rights, to Feedback. Any Feedback you submit is non-confidential and shall become the sole property of EXEX. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to the Feedback (including inter alia any copyrights). Do not provide Feedback if you expect to be paid or want to continue to own or claim rights on it; your idea might be great, but we may have already had the same or a similar idea and we do not want any disputes. We also have the right to disclose your identity to any third-party who is claiming that any content posted by you constitutes a violation of their intellectual property rights, or of their right to privacy. We have the right to remove any posting you make on our website if, in our opinion, your post does not comply with the content standards set out therein.
6.Suspension and termination of your EXEX Account
- 6.1.In case of your breach of the Terms, or any other event as we may deem necessary, including without limitation market disruption and/or force majeure event we may, at our sole discretion and without liability to you, with or without prior notice:
- a.suspend your access to all or a portion of our Services;
- b.prevent you from completing any actions via the Technology Platform, including closing any open Trade orders. In case the transferring resumes, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event;
- c.terminate your access to the Services, delete or deactivate your EXEX Account and all related information and files in such an Account.
- 6.2.In the event of termination, EXEX will return any crypto assets stored in your EXEX Account and not owed to EXEX, unless EXEX believes you have committed fraud, negligence or other misconduct.
7.Disclaimer of warranties. Limitation of liabilities
- 7.1.Except as expressly provided to the contrary in a writing by us, our services are provided on an "As is" and "As available" basis. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.
- 7.2.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 but not limited to software failures, protocol changes by third-party providers, internet outages, force majeure event or other disasters including third-party DDoS attacks, 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.
- 7.3.Except as otherwise required by law, IN NO EVENT SHALL EXEX, OUR DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES OR THE EXEX IP, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM EXEX, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORISED ACCESS TO EXEX'S RECORDS, PROGRAMMES OR SERVICES.
- 7.4.We resume the right, at our sole discretion, to control any action or proceeding (at our expense) to which we are a participant and determine whether we wish to settle it.
- 7.5.To the maximum extent permitted by applicable law, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF EXEX (INCLUDING OUR DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES AND AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, EXEX OR TO THESE TERMS EXCEED THE FEES PAID BY YOU TO EXEX WITHIN 3 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.
- 7.6.EXEX shall not be liable for:
- a.any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information;
- b.any loss or damage arising from a force majeure event.
- 7.7.We strive to protect our users from fraudulent and scam activities in the crypto assets sphere. It is possible that some crypto assets are purposed for unlawful seizure of the property, or are construed as a fraud, scam or any other activity, recognised by the laws as illegal and/or non-compliant with legal requirements. We reserve the right to prohibit and discontinue any transactions on our Technology Platform with such crypto assets at our sole discretion, without any prior notice to you and without publication of the reason for such decision, whenever this comes to our knowledge. YOU INDEMNIFY AND HOLD EXEX LTD. HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH PROHIBITION AND DISCONTINUATION OF TRANSACTIONS IN OUR TECHNOLOGY PLATFORM WITH ANY CRYPTO ASSET.
- 7.8.To be able to access our Technology Platform, the User may use without limitation different mobile devices, such as mobile internet devices, tablets/smartphones and wearable computers ("Mobile Devices"). In no way, do we make any guarantee that each particular Mobile Device is compatible with our Technology Platform. YOU AGREE TO INDEMNIFY AND HOLD EXEX HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH YOUR USE OF OUR TECHNOLOGY PLATFORM VIA MOBILE DEVICES, INCLUDING, BUT NOT LIMITED TO THOSE ARISING FROM YOUR INABILITY TO CONNECT TO OUR TECHNOLOGY PLATFORM FROM PARTICULAR MOBILE DEVICE AND YOUR PERSONAL ERROR AND MISBEHAVIOR SUCH AS YOUR LOSS/DAMAGE/DEFECT OF SUCH MOBILE DEVICE.
- 7.9.The User shall not have any right or claim against the Technology Platform in respect of any loss arising out of any sale, realisation, redemption, liquidation or disposal or proposed sale, realisation, redemption, liquidation or disposal of the crypto assets due to the User’s inability to maintain the margin or meet the margin calls, however such loss may have been caused, and whether or not a better price could or might have been obtained by either deferring or advancing the date of such sale, realisation, redemption, liquidation, disposal or otherwise.
- 7.10.THE USER UNDERTAKES TO INDEMNIFY AND HOLD THE TECHNOLOGY PLATFORM AND ITS OFFICERS, EMPLOYEES AND AGENTS HARMLESS FOR ANY LOSS, COSTS, CLAIM, LIABILITY OR EXPENSE ARISING OUT OF OR CONNECTED WITH ANY BREACH BY THE USER OF ITS OBLIGATIONS HEREUNDER INCLUDING ANY COSTS REASONABLY AND NECESSARY INCURRED BY THE TECHNOLOGY PLATFORM.
8.No offer of securities
- 8.1.EXEX endeavours all possible measures to be sure that crypto assets that are available via the Technology Platform cannot be classified as "security" by any competent national authority. Moreover, EXEX represents that it never intended or desired to make tokens and/or coins that can be classified as "security" available via the Technology Platform.
- 8.2.The responsibility for the fact that the instrument cannot be treated as “security” lies with the owner of the tokens and/or coins. If there is any risk or speculations that the tokens and/or coins can be treated as “security”, the Technology Platform reserves the right to prohibit and discontinue any transactions on our Technology Platform with such tokens and/or coins at its sole discretion.
- 8.3.We follow the best practices to decide whether a crypto asset is security or not. However, we give no warranty and/or investment, financial, legal or any other professional advice, that any crypto asset available via our Technology Platform is not a security.
9.Applicable law; Arbitration
- 9.1.You and EXEX agree to arbitrate any dispute arising from these Terms or your use of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL.
- 9.2.You and EXEX agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to EXEX shall be sent to email@example.com.
- 9.3.Any dispute, controversy, difference or claim arising out of or relating to the Terms, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration.
- 9.4.The law of this arbitration clause shall be the Seychelles Islands law.
- 9.5.The seat of arbitration shall be in the Seychelles Islands.
- 9.6.The number of arbitrators shall be three. The arbitration proceedings shall be conducted in English language.
- 9.7.Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws of the Seychelles Islands, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction.
- 9.8.Whether the dispute is heard in arbitration or in court, you will not commence against EXEX a class action, class arbitration or representative action or proceeding.
- 10.1.Entire Agreement. These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services.
- 10.2.Order of Precedence. In the event of any conflict between these Terms and any other agreement you may have with EXEX, the terms of that other agreement will prevail only if these Terms are specifically identified and declared to be overridden by such other agreement.
- 10.3.Amendments. We reserve the right to make changes or modifications to these Terms from time to time, at our sole discretion. If we make changes to these Terms, we will provide you with notice of such changes, such as by sending an email, providing notice on the homepage of the site and/or by posting the amended Terms via the applicable EXEX websites and mobile applications and updating the "Last Updated" date at the top of these Terms. The amended Terms will be deemed effective immediately upon posting for any new users of the Services. In all other cases, the amended Terms will become effective for pre-existing Users upon the earlier of either:
- a.the date the User clicks or presses a button to accept such changes or;
- b.the date the User continues use of our Services after EXEX provides notice of such changes or publishes new version of the Terms on the website.
- 10.4.Any amended Terms will apply prospectively to use of the Services after such changes become effective. If you do not agree to any amended Terms, you must discontinue using our Services and contact us to terminate your Account.
- 10.5.No Waiver. Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.
- 10.6.Severability. The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.
- 10.7.Assignment. You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from EXEX, including by operation of law or in connection with any change of control. EXEX may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.
- 10.8.Headings. Headings of sections are for convenience only and shall not be used to limit or construe such sections.
- 10.9.Interpretations. These Terms shall be written and executed in, and all other communications under or in connection with this Terms shall be in English. Any translation into any other language shall not be considered as an official version thereof and shall serve for informational purposes only. In the event of any conflict in interpretation between an English text and such translation, the English text shall prevail. Terms "Remittance", "Deposit", "Withdrawal", “Trade” and some others referred to herein are used in the reference to crypto assets solely and as defined in cl. 1 herein and shall not be deemed as construed for the use in regular financial meaning.
II. POSSIBILITIES AND SERVICES OF THE TECHNOLOGY PLATFORM.
11.Registration of an Account with EXEX
- 11.1.It is necessary to go through the registration process and create an account with EXEX to use our Technology Platform in the right order and with its full functionality.
- 11.2.EXEX reserves the right, in its sole discretion, to limit the number of EXEX Accounts that you may hold, maintain or create. EXEX Accounts cannot be assigned to any third-party.
- 11.3.When you create an EXEX Account, you undertake to:
- a.create a strong password that you do not use for any other websites, online or off-line services;
- c.agree to pass through AML/KYC procedures, which may be applied to you from time to time;
- d.maintain and promptly update your EXEX Account information;
- e.maintain the security of your EXEX Account by protecting your password and restricting access to your EXEX Account;
- f.promptly notify us if you discover or otherwise suspect any security breaches related to your EXEX Account;
- g.take responsibility for all activities that occur under your EXEX Account and accept all risks of any authorised or unauthorised access to your EXEX Account, to the maximum extent permitted by law.
12.Deposit/withdrawal of crypto assets to EXEX Account
- 12.1.Our Technology Platform allows Users to remit crypto assets to their EXEX Account from external third-party services and vice versa except to certain limitations, which may be updated from time to time. YOU INDEMNIFY AND HOLD EXEX LTD. HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH YOUR DEPOSIT/WITHDRAWAL TRANSFER REQUESTED IN VIOLATION OF SETTLED LIMITATIONS.
- 12.2.Authorisation to create an address. You understand and acknowledge that an address for receiving crypto assets will be created automatically as soon as you request the Deposit transfer and before any crypto asset can be remitted to your EXEX Account and you fully and irrevocably authorise its creation.
- 12.3.Ownership verification. In case you are required to verify that you possess crypto assets of the third-party service that you use to remit crypto assets to your EXEX Account, you undertake to provide such verification by following EXEX’s instructions.
- 12.4.Deposit/Withdrawal Authorisation. When you request us to Deposit/Withdraw crypto assets into or out of your EXEX Account, you authorise EXEX to execute such Transfer via the Technology Platform.
- 12.5.No control over third-party services. You may be charged fees by the third-party service you use to remit your EXEX Account. EXEX is not responsible for any third-party services' fees. You are solely responsible for your use of the third-party service, and you agree to comply with all terms and conditions applicable to any third-party service.
- 12.6.Rejected or Suspended Deposit/Withdrawal Transfers. In some cases, the third-party service may reject your crypto assets to be processed, suspend the Deposit/Withdrawal Transfer of your crypto assets, or be not able to support the Transfer, or may otherwise be unavailable. YOU AGREE THAT YOU WILL NOT HOLD EXEX LIABLE FOR ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH SUCH REJECTED OR SUSPENDED ETC. DEPOSIT/WITHDRAWAL TRANSFERS.
- 12.7.Delays. Subject to the terms and conditions of these Terms, we will use commercially reasonable efforts to record all Transfers on a spot basis as soon as practicable. However the timing associated with Deposit/Withdrawal of crypto assets depends inter alia upon the performance of third-parties services, and we make no guarantee that crypto assets will be Deposited/Withdrawn in any specific time frame. YOU HEREBY UNDERSTAND AND ACKNOWLEDGE, THAT ANY DELAYS ARE POSSIBLE; YOU INDEMNIFY AND HOLD EXEX LTD. HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE TRANSFER DELAY, WHETHER ORIGINATED FROM OUR FAULT OR NOT.
13.Crypto assets and futures trade
- 13.1.When you submit a new Trade order via the Technology Platform, you authorise EXEX to:
- a.record a transfer of your crypto assets and/or Futures from/into/on your EXEX Account and/or,
- b.where applicable, reserve your crypto assets and/or Futures on your EXEX Account in accordance with such Trade order
- c.and charge you any applicable fees for such record (as described in the Terms).
- 13.2.You acknowledge and agree that, respective to your trading activity, our Technology Platform:
- a.is not acting as your broker, intermediary, agent, or advisor or in any fiduciary capacity;
- b.is not acting as a party of transferring of a particular crypto asset.
- 13.3.Futures Trade. Futures trading is available for all users provided they have deposited the required margin amount as collateral for Futures trading. The terms and conditions set out for margin trading shall be applicable hereto and as a part of margin regulations. Futures trading may be limited at the sole discretion of the Technology Platform.
- 13.4.Trade rates. Each placed Trade order creates different market exchange rates. You acknowledge and agree that the rates information made available via the Technology Platform may differ from prevailing rates made available via other sources outside of the Technology Platform.
- 13.5.Market volatility. Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any crypto assets, the actual market rate at which a market Trade transaction is executed may be different from the prevailing rate indicated via the Technology Platform at the time of your Trade transaction. You understand that we are not liable for any such rate fluctuations.
- 13.6.The rates made available via the Technology Platform shall not be considered as an investment or financial pieces of advice or referred to as such and cannot be used as a basis of investment strategy, legal position in the court and nothing in the rates information can be ensured to contain no errors, mistakes, misrepresentations or failures etc. THEREFORE, NEITHER EXEX, NOR, WHERE APPLICABLE, ANY OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR OUTSOURCED ADVISORS MAKES ANY REPRESENTATION, WARRANTY OR GUARANTEE WHATSOEVER WITH RESPECT TO THE RATES INFORMATION AND, IN PARTICULAR, AS TO THE ACCURACY OR COMPLETENESS OF THE RATES INFORMATION. YOU AGREE TO INDEMNIFY AND HOLD EXEX HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH YOUR USE OF RATES INFORMATION AND/OR YOUR TRADING ACTIVITY VIA TECHNOLOGY PLATFORM.
- 14.1.When you submit a new Margin collateral via the Technology Platform, you authorise EXEX to:
- a.to increase or decrease the facility limit of the Margin Facilities without any prior notice to you;
- b.extend the Margin Facility to you in excess of your Margin Limit;
- c.refuse to make available to you any advance under the Margin Facility at any time even if the applicable Margin Limit has not been exceeded;
- d.to cancel or terminate the Margin Facilities;
- e.to demand immediate payment of all or any crypto assets, whether principal, interest or otherwise, then owing in respect of the Margin Facilities or otherwise hereunder;
- f.to draw on the Margin Facilities to settle any amount due to the Technology Platform in respect of your acquisition of crypto assets or payment of any commission or other costs or expenses due in favour of the Technology Platform.
- 14.2.Margin Call. You shall maintain the Margin and on demand from the Technology Platform make payments or deposits of additional Margin in such amount and in such form and within such time limit as specified by the Technology Platform, as the Technology Platform in its absolute discretion determines necessary to provide adequate support in respect of the Margin Percentage and the Margin Facilities. Payment of Margin Calls must be effected in Crypto assets which you have good and free unencumbered titles and unless the Margin Call is fully satisfied with the time specified. We have no obligation to notify you of your failure to maintain the Margin. In the event that it is, in the sole opinion of the Technology Platform, impracticable for us to make demands for additional Margin, the Technology Platform shall be deemed to have made Margin Calls for such form and/or amounts as we may determine and such additional Margin shall become immediately due and payable by you.
- 14.3.If you fail to maintain the Margin or meet Margin Calls made by us or the Margin Financing Facilities is terminated or cancelled by us, we may, without demand, notice, legal process or other action sell, realise, redeem, liquidate or otherwise dispose of, as appropriate, such of the crypto assets or any part thereof at the relevant market or by private contract, and on such terms as we in our absolute discretion think fit, free from all your trusts, claims, rights of redemption and equities.
- 14.4.Upon irrevocable payment in full of all sums which may be or become payable hereunder and the full performance of your obligations under the Margin Facility terms, the Technology Platform will at your request and expense release to you all the rights, title and interests of the Technology Platform in the Margin collateral.
15.Competitions and airdrops
- 15.1.From time to time, our business partners, contractors, clients, or counterparties may hold different competitions, trials, games, airdrops, or any other type of marketing events available to users through our Technology Platform, which may or may not result in the distribution of assets, including, without limitation, crypto assets. By agreeing to participate in such events you are agreeing to comply with and abide by the rules of each particular event. In some cases, to be eligible for participation, you may be required to fulfil certain prerequisites, including but not limited to, holding certain assets in your Account. In no event shall the Margin Facilities provided to you by EXEX be considered as such a qualifying holding.
- 15.2.Unless otherwise specifically provided and indicated by the rules of a particular event with EXEX consent, EXEX does not control and is not associated with any such event and shall have no responsibility for conducting and holding it. EXEX reserves the right to publish the rules of the event received from its holder.
- 15.3.Unless otherwise is set up by the specific rules of the airdrop event the airdrop’s assets shall be accrued to the qualified User upon their request made via Technology Platform interface only under condition that such request is sent by the qualified User within 30 calendar days since the airdrop event.
- 15.4.You hereby understand and acknowledge that your participation in such an event, and your interactions with the relevant holder, are undertaken at your own risk. YOU INDEMNIFY AND HOLD EXEX HARMLESS AGAINST ANY CLAIMS, DEMANDS, AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING FROM OR IN ANY WAY CONNECTED WITH INVALIDITY OR BREACH OF ANY OF THE WARRANTIES, REPRESENTATIONS AND/OR COVENANTS GIVEN BY THE HOLDER OF THE EVENT.
- 16.1.Amount of Fees. You agree to pay the fees for Transfers completed via Technology Platform ("Fees") as defined by the Fees and Limits (https://exex.com/fees-and-limits), which we may change from time to time. Changes to the Fees are effective as of the effective date indicated in the posting of the revised Fees and Limits, and will apply prospectively to any Transfers that take place following the effective date of such revised Fees.
- 16.2.Payment of Fees. You authorise us, or our designated payment processor, to charge or deduct your EXEX Account crypto assets for any applicable Fees owed in connection with trades you complete via the Technology Platform.
- 16.3.Interest. You shall pay to the Technology Platform the interest on your aggregate liability (whether present or future, actual or contingent, joint or several) to the Technology Platform under the Margin Facilities or otherwise at any relevant time at the interest rate advised by us to you from time to time. Such interest shall be added to and form part of your aggregate liability.
- 16.4.Inactive Account Fee. In case during 6 (six) months the User has not made a single Trade, or single Deposit, or single Withdrawal of Funds, the Account of such User shall be considered an Inactive Account (“Inactive Account “). For all Inactive Accounts, EXEX applies a monthly fee, which is the equivalent of 10 (ten) USDT at the current SPOT rate of the USDT to the currency in which the fee will be debited (“Inactive Account Fee “). From the moment of recognising the Account as Inactive, EXEX has the right, without notification of the User, to debit an Inactive Account Fee every calendar month. Inactive Account Fee debit occurs before the 10th (tenth) day of each such month. Herewith, the Account ceases to be considered an Inactive Account from the date of execution of any of the following actions: one Trade, one Deposit, one Withdrawal of Funds. The debiting of the Inactive Account Fee shall discontinue from the date when the Account ceases to be considered an Inactive Account. The Inactive Account Fee is debited by EXEX in any Currency in which the Funds are available in an Inactive Account at the time of such debit. If the amount of Funds in a User Account is less than the amount of the Inactive Account Fee, EXEX debits the entire balance of Funds from such Account. The Inactive Account Fee is debited starting from 1 March 2022 for each Account, which is considered as Inactive Account as of such date and hereinafter for each Account that is considered as Inactive Account according to the conditions specified in this Clause.
- 16.5.Other Services Fees. For any additional services that you may require us to provide to you, such as without limitation restoring accesses, retrieving assets, providing any additional support beyond the normal services, EXEX may charge extra fees. By requesting such services you agree to pay applicable fees; the fees may be deducted from your Account.
17.Copyrights and other intellectual property rights.
- 17.1.Unless otherwise indicated by us, EXEX IP is the proprietary property of EXEX or our licensors or suppliers and is protected by international copyright laws and other intellectual property rights laws.
- 17.2.We hereby grant you a limited, non-exclusive and non-sublicensable licence to access and use the EXEX IP for your personal or business use solely for the purposes of regular use of the Technology Platform.
- 17.3.Such licence is subject to these Terms and does not permit:
- a.any resale of the EXEX IP;
- b.the distribution, public performance or public display of any EXEX IP;
- c.modifying, adapting or otherwise making any derivative uses of the EXEX IP, or any portion thereof; or
- d.any use of the EXEX IP other than for the intended purposes.
- 17.4.The licence granted under this Section will automatically terminate if we suspend or terminate your access to the Services.
- 18.1.While using our Technology Platform, you may view Third-Party Content. We do not control, endorse or adopt (unless otherwise expressly stated by us) any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.