This Agreement sets out the terms and conditions of the service, under which you, as a merchant, can use the System and services as defined below for accepting payments in cryptocurrencies, carrying out of transactions (purchase and sale) in cryptocurrencies, as well as have access to other services offered by SupremeTech OÜ, Reg. Nr. 14765019, Harju maakond, Tallinn, Kesklinna linnaosa, Rävala pst 6, 10143, Estonia, doing business as Finectum.com.
Finectum and you acknowledge that the digital form of this Agreement is legally equal to the agreement executed in a written form.
IMPORTANT! WHEN ACCEPTING THE AGREEMENT BY ANY METHOD ALLOWED, OR BY USING OR ACCESSING THE SYSTEM AND SERVICES VIA A PC OR A MOBILE APP, YOU ACKNOWLEDGE AND AGREE THAT: (I) YOU HAVE REVIEWED AND UNDERSTAND THE PRESENT AGREEMENT; (II) YOU AGREE TO BE LEGALLY BOUND BY THE TERMS AND CONDITIONS OF THE PRESENT AGREEMENT; AND (III) YOUR USE OR USE BY THE LEGAL ENTITY YOU REPRESENT OF THE SYSTEM AND SERVICES WILL BE GOVERNED BY THE PRESENT AGREEMENT.
Account – a link generated in your name, which you use to login and to identify yourself in the System.
Cryptocurrency – is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems.
Finectum – SupremeTech OÜ, Reg. Nr. 14765019, Harju maakond, Tallinn, Kesklinna linnaosa, Rävala pst 6, 10143, Estonia.
MFI – Monetary Financial Institutions.
System – an Electronic Online Software Platform with relevant user interfaces available on the Website and/or otherwise accessible, owned, administered and supported by Finectum and the services stipulated in the present Agreement and intended for merchants to accept Cryptocurrencies as payment from purchasers of goods or services.
Website - the website www.finectum.com including all its sub-domains.
The E-mail address specified by you and intended for your identification shall be valid throughout the entire period of validity of your Account and cannot be changed. You shall be entitled to change the login, password intended for your identification at any time by taking appropriate actions specified on the Website.
Your Account in the System will be created upon specifying your E-mail address and creating your login, password.
To get a full access to the System you shall have to disclose properly your identity and provide required documents to pass the KYC and Due Diligence Verification.
You shall be obliged to inform Finectum on any change of the provided documents or personal/corporate details by providing with the copies of the changed documents not later than within ten working (10) days.
We shall reserve the right to request originals of the scanned documents or duly certified paper copies from you.
You must ensure the secrecy of your Account and your login information used to enter into the System and must use two-factor authentication (2FA). Finectum shall assume no responsibility for any actions in the System that are not initiated by you and any consequences thereof, if such actions have been taken and confirmed after logging into the System with your e-mail address and your password.
All risk regarding the actions indicated in the present clause or any illegitimate actions made via your Account shall fall exclusively on you.
We reserve the right to determine minimum and (or) maximum amounts of the Cryptocurrency to be purchased in a single operation indicating such restrictions on the Website.
We reserve the right to determine minimum and (or) maximum amounts of the Cryptocurrency to be sold in a single operation indicating such restrictions on the Website.
You authorize Finectum to receive Cryptocurrencies, hold, exchange and disburse them, as well as deduct Finectum commission on your behalf, and to take any and all actions that find necessary or desirable to provide System services or to comply with all applicable law and the present Agreement.
In relation to payments/transactions in Cryptocurrencies/fiat currencies made to you, any legal relations are between you as a merchant and your customer making a payment. Finectum is not a party to relations between you as a merchant and your customers making payments in Cryptocurrencies.
We do not accept any queries, letter, requests and (or) complaints regarding you, your services, products, activities and (or) payments/transactions between you as a merchant and your customers.
We do not engage into any other activities on behalf of you, your representative, agent or employee.
We shall not control, monitor, assess, authorize (and) or supervise your activities and (or) particular transactions.
The foregoing does not preclude Finectum from exercising the right to restrict or terminate provision of services discussed in the Terms and Conditions of the present Agreement to you at any time according the terms of the present Agreement.
You understand and accept the following terms pertaining to any wire transfer you send to Finectum in connection with your purchase order for Cryptocurrency:
Refunds are not possible for all transactions where you are purchasing a Cryptocurrency. However, in case you changed your mind and would like to return the purchased Cryptocurrency, Finectum would be able to buy it back based on the current market rate minus the service fee for the transaction. In other words, you can exchange the purchased Cryptocurrency for any existing fiat currency (bank transfer).
The reason for such policy is the fact that the Cryptocurrency price changes constantly, thus the value of the purchased Cryptocurrency at the moment of refund will be different.
The System shall enable you to accept Cryptocurrencies as payment from purchasers of goods or services and under no circumstances shall assume the responsibility for change in or loss of the value of Cryptocurrency. You should consider the fact that for objective reasons the value of Cryptocurrency may change rather much and it may happen in a rather short time.
IN NO EVENT WILL FINECTUM BE LIABLE TO YOU, LEGAL ENTITY YOU REPRESENT OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OR ANY LOSS, THEFT, DISAPPEARANCE, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST DATA OR OTHER INTANGIBLE LOSSES THAT RESULT FROM YOUR USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE SYSTEM, AS WELL AS YOUR RELATIONS WITH YOUR CUSTOMERS, REGARDLESS OF THE FORM OF ACTION AND WHETHER OR NOT FINECTUM KNEW THAT SUCH DAMAGE MAY HAVE BEEN INCURRED.
IN NO EVENT WILL FINECTUM BE LIABLE TO YOU, LEGAL ENTITY YOU REPRESENT OR ANY THIRD PARTY FOR ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING, VIRUS TRANSMISSION OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICES, YOUR ACCOUNT, OR ANY INFORMATION CONTAINED THEREIN.
IN NO EVENT WILL FINECTUM BE LIABLE FOR ANY DAMAGES ARISING IN CONNECTION WITH THE SYSTEM FEES CHANGES EARNED BY FINECTUM IN CONNECTION WITH YOUR USE OF THE SERVICES. THE FOREGOING LIMITATIONS OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
YOU AGREE TO INDEMNIFY, RELEASE AND HOLD HARMLESS FINECTUM, ITS AFFILIATES AND ANY COMPANY UNDER COMMON OWNERSHIP OR CONTROL WITH FINECTUM OR ITS AFFILIATES, AS WELL AS THE OFFICERS, DIRECTORS, AGENTS, REPRESENTATIVES AND EMPLOYEES OF THE FOREGOING, FROM ANY CLAIM, LIABILITY, LOSS, EXPENSE OR DEMAND, INCLUDING LEGAL FEES, RELATED TO A PARTICULAR TRANSATION, A PURCHASE, PRODUCT, GOOD AND (OR) SERVICE, YOUR ACCESS OR USE OF THE SYSTEM OR ANY OF THE INFORMATION, MATERIALS, PRODUCTS OR SERVICES AVAILABLE THROUGH THE SYSTEM.
Finectum is not responsible for delays or failures in the handling of operations arising as a consequence of any problems in the telecommunications, computer and other systems; force majeure action of MFIs (block or closure of the accounts, freezing or holding of funds, denial of service); change of political regimes, civil strike; and actions of third parties, which are beyond the control of Finectum.
In case of a delay in receipt or non-receipt of funds to or from the MFI account specified by you, Finectum is not liable for any damage caused to you. You agree that in the event of delays all claims will be addressed to the respective MFI.
Finectum administration reserves the right to temporary hold the funds transferred to it from you attempted to any attacks on the server, as well as any attempts of hacking and cheating scripts on the Website. The funds will be returned to you via the same means of payment upon request.
All information provided by you in the process of sale is confidential and not disclosed to third parties. Exceptions: 3rd party service providers used by the System for Anti Fraud purposes, the request of law enforcement, the court's decision.
We reserve the right to exercise at Finectum discretion at any time to develop, improve, and otherwise modify the Website and (or) the applications comprising the System or other programs related to services provision, the functions and functionality of the Website and (or) of the System, including (but not limited to): quantity of functions (by both increasing and decreasing it), their scope (by both increasing and decreasing it), procedure for use of the functions, scope of data required for your identification and identification procedures etc.
If needed and possible, at own discretion Finectum will publish information about the changes indicated in this clause on the Website.
We assume no responsibility for any losses and inconveniences to you and any third parties, which may be sustained as a result of exercising of Finectum rights indicated in this clause, or are released from such responsibility.
You or we may suspend or terminate your Account or your use of the System at any time, for any reason or for no reason. Except for the withdrawal of the accumulated funds, you will not be entitled to any remedy for discontinuing the services, all subject to these Terms and Conditions of service and applicable laws and regulations. We reserve the right to change, suspend, or discontinue all or any aspect of this Website at any time without notice.
Finectum may suspend or terminate your Account or your use of the System at any time if you otherwise violate the provisions of the present Agreement or when provision of respective services to you might threaten the security of the Finectum or the Website or upon instruction or suggestion from competent public authorities or if such restrictions become necessary according to legislation or if Finectum suspect that you use the services for illegal, fraudulent and (or) unfair activities or if Finectum thinks that your use of the services may damage Finectum reputation. If the provision of the services is restricted or terminated as a result of suspicion that you are engaged in illegal fraudulent and (or) unfair activities, it is your responsibility to prove the absence of such a circumstance to us.
You or we may terminate your Account and services of this Website at any time, for any reason or for no reason. To cancel your services, please contact us.
Both Finectum and you agree that any disputes arising between the two parties shall be initially attempted to be resolved by contacting the other party. In such a case you shall contact Finectum by sending an email to [email protected], and Finectum shall contact you via the email that was used for registration or any other information that you had provided in the Account.
This Agreement is governed by and will be interpreted in accordance with the laws of the United Kingdom.
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Any customer or potential customer has the right to complain about Finectum service or product. The complaints should be communicated to Finectum by sending an email to [email protected]. Finectum undertakes to deal with each complaint and issue a response within 15 days of the initial complaint. We record and analyze all complaints in order to improve our services.
The trading of goods and products, real or virtual, as well as Cryptocurrencies, involves significant risks. Prices can fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency, Cryptocurrency or not, may be subject to large or sudden shifts in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. You should be aware that the risk of loss in trading or holding Cryptocurrencies can be substantial.
Transactions in the Cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.
The abovementioned is not a closed list, there may be additional risks that we have not foreseen or identified in our Terms & Conditions. You should carefully assess whether your financial standing and tolerance for risk are suitable for buying, selling or trading Cryptocurrency.
In order to provide Cryptocurrency purchasing and payment processing services, Finectum collects, uses, stores and otherwise processes information about you as permitted by the European Union General Data Protection Regulation (No 2016/679) and other legal acts.
We implement appropriate technical and organizational measures to protect personal data against accidental or unlawful destruction or accidental loss, alteration, unauthorized disclosure or access, in particular where the processing involves the transmission of data over a network, and against all other unlawful forms of processing.
You are obliged to inform Finectum in writing immediately in case any information hold about you is inaccurate or not up to date or you believe that any of the information about you is collected, used and stored by Finectum in a manner not compliant with applicable laws.
By accepting the present Agreement, you or legal entity you represent, as a data controller, authorize us, as a data processor, to process personal data controlled by you and entrusted to Finectum (information about your representatives and purchasers) on your behalf and pursuant to your instructions for the sole purpose of providing you with the System.