Bankto

Customer Terms and Conditions

Latest update: October 02, 2023.

These Terms and Conditions (Terms) together with any other applicable terms and policies apply in relation to the use of the Services (as defined below) between Bankto.io (Bankto, we, our, us) and you as the Customer user of the Services (Customer, you, your).


Bankto and the Customer are each referred to as Party and together referred to as Parties.

 

Please read these terms carefully. They set out your rights and responsibilities when you use the Services, and other important information.


1. About Us

 

1.1. Company Details: We are Bankto.io, Virtual Assets Operator UAB a private limited liability company organized and existing under the laws of the Republic of Lithuania, with registered office at Verkiu st. 25B 61, LT – 08223, Vilnius, Lithuania, registration number 305946609. We are a virtual currency exchange operator and a depository virtual currency wallet operator.


1.2. We offer various services through our website [www.bankto.io] and other relevant sub-domains, and the Bankto Platform (including the B2C App) relating to Virtual Currencies.


1.3. Our services and activities are subject to the laws of the Republic of Lithuania. Please note that the activity of virtual currency exchange operators and/or depository virtual currency wallet operators is not licensed in Lithuania and virtual currencies are not currently regulated by the Central Bank of Lithuania or any other authority in the Republic of Lithuania, but we are subject to certain mandatory requirements provided under the AML Law in Lithuania, including certain reporting obligations to the Financial Crime Investigation Service in Lithuania. We are registered in Lithuania as a virtual currency exchange operator and a depository virtual currency wallet operator for AML purposes. We do not provide any financial or investment services and/or other services subject to authorization requirements under the laws of the Republic of Lithuania.


1.4. Contact Details: To contact us, email us at compliance@bankto.io.


2. Our contract with you and applicable terms


2.1. You accept and agree to be bound by these Terms and any other terms and policies referenced herein:


2.1.1. by clicking any button or box marked “accept” or “agree” (or a similar terms) in connection with the Terms (and all incorporated terms and policies); or


2.1.2. by accessing and/or using the Services and/or the Bankto Platform.


2.2. If you do not agree and accept the Terms, please refrain from accessing or using the Services. Your acceptance of the Terms is deemed to prove that you have read, understood, agreed to, and accepted to be bound by the Terms and all incorporated terms and policies, and that you undertake to abide by them in full.


2.3. The Terms currently in force are available on our Website, unless otherwise indicated by us. We recommend that you print a copy of the Terms for future reference.


2.4. These Terms apply to the provision of the Services by Us to the You your access and/or use of the Bankto Platform.


2.5. Other applicable terms. The AML/CFT Policy and the Privacy Policy are deemed to form an integral part of these Terms; these policies are accessible via our Website. The Terms together with the AML/CFT Policy and Privacy Policy and other potentially applicable terms and policies constitute the Customer Agreement.


Please note that if you make any purchases or donations to Merchants through the services or platform provided by Bankto your use of our platform and services are also subject to Merchant Client Terms and Conditions.


2.6. Entire agreement. Other than any terms and policies that we explicitly refer to in these Terms to apply in relation to the Services, you agree that no other terms apply or are herein incorporated, either express or implied by law, trade custom, practice, or course of dealing. You also acknowledge that the Customer Agreement is the entire agreement between you and us in relation to the Services. You acknowledge, agree, and accept that you have not relied on any statement, promise, representation, or warranty that is not set out in the Customer Agreement.


2.7. Electronic data same value as paper documents. You acknowledge that all electronic data regarding transactions, electronic documents and information gathered through the Bankto Platform, and applicable system loggings, any and all actions performed by using your Account in the Bankto Platform, any actions related to the conclusion and implementation of any Virtual Currency Transactions, and the use of the Services shall be valid and causing the same legal effects as the actions and transactions formalized by a paper document signed by you, and if you are acting on behalf of a legal entity, then also by a paper document signed by you and endorsed with the stamp of such entity, and will have the same legal and evidentiary value as paper documents and that they can be used as evidence in court or other judicial or arbitral proceedings.


3. Interpretation


3.1. These definitions apply in the Customer Agreement.


Account means your personalized virtual interface within the Bankto B2C App that is intended for your use of the Services. The account is accessible via our Website and/or the Bankto B2C App by using your registration email, username and password and other potentially applicable credentials to login. Through the Account you can manage your use of the Services.


AML/CTF means anti-money laundering and counter-terrorism financing.


Bankto B2C App means the web application made available via the Website or other subdomains.


Bankto Platform means a software with relevant user interfaces available on the Website and/or the Bankto B2C App, or otherwise accessible, owned, administered, supported, and developed by us including our services stipulated in these Terms for the conclusion of virtual currency agreements.


Business Day means a day other than a Saturday, Sunday, or public holiday in the Republic of Lithuania when banks are open for business.


Customer means the person that accesses and/or uses the Services and/or concludes Virtual Currency Agreements.


Fees means the fees we will charge you for the provision of the Services, the details of which are set out on our Website or the Fee Schedule.


Fee Schedule means the schedule that lists the applicable fees that may be made available to the Customer.


Fiat means a legally established currency which in accordance with valid laws is legal tender.


Inactive Account means any Account through which no transactions have been processed for a minimum of six months or for which contact information (address, phone number, email address) is no longer valid or has not been updated in due time.


Services means the software, tools, and services provided by Bankto that allow you to carry out Virtual Currency Agreements through your Account, and any other services listed within this clause 4.


Terms means these Terms and all schedules thereof under which the Parties agree on the general terms and conditions of the provision of Services.


Virtual Currency means a digital representation of value stored in the blockchain or other distributed ledger technologies which can be digitally traded, stored, sold, exchanged, invested, used for settlements by electronic means, or transferred, and can be used as a means of exchange or for investment purposes. Virtual Currencies do not have the legal status of fiat currencies, and do not include or represent digital representations of fiat currencies, securities, and other corresponding financial assets. Bitcoin is an example of a virtual currency.


The list of supported Virtual Currencies for the Services is provided on the Website and/or the Bankto Platform. Bankto reserves the right to change, remove, or add any supported Virtual Currencies in its sole discretion.


Virtual Currency Agreement: means a remote non-recurrent agreement by and between you and a third party or us for the sale or purchase of any Virtual Currencies that shall constitute the basis for the relevant transactions in Virtual Currencies based on these Terms.


Website means our website https://bankto.io including all its sub-domains.


3.2. In the Customer Agreement:


3.2.1. Clause, schedule and paragraph headings shall not affect the interpretation of this agreement.


3.2.2. A person includes an individual, corporate or unincorporated body (whether or not having separate legal personality) and that person’s legal and personal representatives, successors or permitted assigns.


3.2.3. A reference to a company shall include any company, corporation or other body corporate, wherever and however incorporated or established.


3.2.4. Unless the context otherwise requires, words in the singular shall include the plural and, in the plural, shall include the singular.


3.2.5. Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders.


3.2.6. A reference to a statute or statutory provision is a reference to it as amended, re enacted supplemented, varied or replaced.


3.2.7. A reference to a statute or statutory provision shall include all subordinate legislation made as at the date of this agreement under that statute or statutory provision.


3.2.8. A reference to a document or agreement (including a reference to this Agreement and Terms) is to that document or agreement as amended,
supplemented, varied or replaced.


3.2.9.Words like “include”, “includes” and “including” or words with similar meaning shall be deemed to be followed by the phrase “without limitation”.


4. Services


4.1. We grant you a limited, non-exclusive, non-transferable, revocable license and the right to access and use the Services, subject to these Terms.


4.2. We provide you the following Services through the Website, tools, software, widget, or plug-in, of the Bankto Platform, including the Bankto B2C App:


4.2.1.Fiat-to-Virtual Currency Exchange Services and vice versa.


4.2.2.Virtual Currency-to-Virtual Currency Exchange Services.


4.3. The Services provided by Bankto do not qualify as payment services or e-money issuance and services as defined in relevant applicable laws. Bankto is not a financial intermediary and does not perform any operation subject to licensing requirements. You understand and acknowledge that Bankto relies on the services of other licensed providers for any payment or e-money services for any Fiat payment and transactions, including transactions involved in the exchange of Fiat into Virtual Currencies.


5. Access to the Services and Account Set up


5.1. To get access to our Services and Bankto Platform, you must set up an Account with us.


5.2. To set up an Account, you must provide us with the information and documents requested by us, such as personal information and information and documents proving your identity and capacity, or your authorisation and power to bind a legal person, business details of the legal entity, and the director(s), secretary, and ultimate beneficial owner of the entity, and other relevant information and documents. We may also require you to answer certain questions or take actions to verify your identity or ensure your or our compliance with applicable laws.


5.3. We reserve the right to refuse to create an Account for you and to grant you access to the Services; such a right to be exercised based on our sole and absolute discretion.

 

5.4. To create an Account, you must use an email address, a password, a username, or other authentications, codes, or credentials. You will use your credentials to login to your Account.


5.5. It is your responsibility to protect your credentials and login details. Your credentials are strictly personal, and you agree not to divulge them to a third party. Any violation of the confidentiality of your credentials will be considered a material breach of this agreement, and we may block access to or terminate your Account. We shall not be liable for any claims, damages, losses, or other harms whatsoever, that result from or are related to, in whole or in part, your failure to protect the confidentiality of your login credentials.


5.6. It is your responsibility to ensure that your email address remains valid and update your email address if necessary. We will communicate with you via email in relation to the Agreement and Services. Hence, you need to ensure that you register an updated, working, valid, and accessible email address.


5.7. Through your Account you have access to the Services and an overview of your transactions.


6. Customer Representations and Warranties


6.1. You confirm, represent and warrant that:


6.1.1.you have the legal capacity to enter into and be bound by the Terms and any other document referenced herein.


6.1.2.if you represent a legal person, you have the necessary legal competence, right,powers of representation, due authority, and authorisation to accept the Terms and any other document referenced herein on the behalf of that legal person.


6.1.3. if you are a natural person, you are of the age of full legal capacity and reside in a country where our Services are legally accessible and permitted.


6.1.4. where a legal person is concerned, that legal person is duly organised and established, and is in a good standing, and operates in a country where our Services are legally accessible and permitted.

 

6.1.5. you have provided and shall provide accurate, true, and complete information,material and documents requested by us for any legitimate purpose, including to verify your identity, and you shall timely update and correct such information, material, and documents to maintain their status as accurate, true and complete.

 

6.1.6.you do not use or have any intention to use the Bankto Platform for anything that is unlawful, illegitimate, malicious or that could damage, harm, disable,over burden, or impair the proper operation of the Bankto Platform, or misuse,discredit, or undertake any deceptive, misleading or unethical practices, or engage in any acts or omissions that could impose or damage our reputation or pose a threat to us.


6.1.7.you have read, understood, and commit and intend to comply with, and be bound by the Terms and any document referenced herein and all applicable laws and regulations.


6.1.8. any Virtual Currency used by you in an exchange transaction is owned by you and is derived from legitimate sources.


6.1.9.we have not advised you, nor individually recommended to you, to use the Services, excluding any advertisement of our services, platform.


6.1.10. you have not relied on any statement, promise, representation, or warranty that is not set out in the Terms.


6.1.11. your use of the Services does not violate any applicable laws or regulations of any jurisdiction that apply to you, or any agreement or contract which you have entered into at any time before or after this Agreement.


6.1.12. you have sufficient information to make an informed and knowledge able decision as to entering into this Agreement.


6.1.13. if you or any of your representatives fail to submit the required or requested data, information and material, submit incomplete data, information, and material or if the data, information and material are incorrect or inaccurate, or your representatives avoid submitting the data required or requested for establishing their identity or that of the ultimate beneficial owner, or the submitted data is insufficient for this purpose, in our sole and absolute discretion, we can refuse to provide services or establish, or continue any business relationship with you.


6.1.14. your use of the Services does and at all times will comply with all applicable AML/CFT laws and regulations, including, without limitation, all applicable sanctions programs and any other sanctions programs that may apply to you.


6.2. By accepting these Terms, you represent and warrant that all of the above is true and accurate on the day of acceptance of these Terms (in accordance with Clause 2) and shall remain true and accurate until you cease to use the Services.


6.3. Representations and warranties are personal statements or assurances given by you which we will rely on when we provide our Services to you.

7. Bankto Warranties


7.1. Bankto is a company duly organized, validly existing and in good standing under the laws of the Republic of Lithuania and has all requisite corporate power and authority to carryout on its operation as now conducted and as presently proposed to be conducted.


7.2. Bankto has all requisite power and authority to execute and deliver the obligations under these Terms.


7.3. To the extent permitted by law, we exclude all warranties, representations, conditions, and all other terms of any kind whatsoever as to any matter whatsoever, whether express or implied by statute or common law or the operation of law. Not with standing the generality of this clause, we do not warrant the reliability, availability, accuracy, or completeness of information on the Bankto Platform, and we confirm that all information is provided “as is” without warranty of any kind, express or implied.


7.4. While we attempt to make your access to any use of the Website, Bankto Platform, and Services and content safe, we do not represent or warrant that the Bankto Platform, Website, Services, and any functions contained therein are error-free, uninterrupted,free of viruses or other harmful components.


7.5. We cannot guarantee the security of any data that you disclose online. You accept the inherent security risks of providing information and dealing online over the internet.


7.6. We do not warrant that the functions contained in the Bankto Platform will meet your requirements.


8. Customer obligations


8.1. You undertake to:


8.1.1. adhere to these Terms and any other documents referenced herein and any other applicable provisions governing the use of our Services.


8.1.2. at all times comply with all applicable laws and regulations, including, but not limited to, AML/CTF regulations, personal data protection laws, unfair commercial practices laws and regulations, consumer rights laws, etc.


8.1.3. provide us with information, documents, and data which is accurate, correct, true, up to date, not misleading and free of viruses or other harmful components that could interfere with the normal operations of the Bankto Platform, Website, and Services.


8.1.4.provide us with all necessary cooperation in relation to the Agreement.


8.1.5.notify us immediately without any delay (on the same Business Day or the next available Business Day) on suspicion of improperly provided Services, of loss, theft, unauthorized use, or illegal acquisition of the login data, and also of loss of your electronic device used for logging onto the Bankto Platform.


8.1.6. take all reasonable measures necessary to prevent illegal disclosure, appropriation, or use of your data related to transactions in Virtual Currencies.


8.1.7.notify us immediately of any changes to any information you have provided to us in connection with these Terms and your Account and/or of any material change in your circumstances that might affect your performance of these Terms.

 

8.1.8. submit any documents at our request and in the manner requested by us supporting any of your changes in information or circumstances.


8.1.9.maintain the security and confidentiality of your passwords, usernames, or any other authentications, credentials, or codes that you use to access your Account.


9. Bankto Obligations


9.1. We undertake to act in good faith and use our best commercially practicable efforts to provide the Services to you in accordance with these Term and perform and fulfil our obligations to you.


10. Assumption of Risk

 

10.1. You acknowledge that:


10.1.1. you have all the information necessary to correctly understand, determine, and appreciate the scope and content of the Services and using Virtual Currencies.


10.1.2. you have individually researched Bankto and the Services and understand their content.

 

10.1.3. you understand the risk of volatility associated with Virtual Currencies which may cause the Virtual Currencies you hold to lose their value.


10.1.4. you understand that Virtual Currencies are not a legal tender, they are not regulated or backed by the government, and are not subject to any applicable Deposit Guarantee Scheme or other compensatory scheme; hence, there is an increased risk of losing your Virtual Currencies and not receiving any compensation.


10.1.5. your financial status allows you to accept the risks relating to Virtual Currencies,such as risk of loss or theft, or risk of volatility.


10.2. You acknowledge the following risks related to Virtual Currencies; the list is not exhaustive, and you acknowledge to have assessed all potential risks:


10.2.1. Risk of Theft: Virtual Currencies may be exposed to attacks by hackers or other individuals that could result in theft or complete loss of your Virtual Currencies.


10.2.2. Risk of Mining Attacks and technology: blockchain is susceptible to attacks,including but not limited to denial-of-service attacks, hacks, exploits of consensus nodes, and byzantine attacks on the consensus nodes, and other relevant vulnerabilities. You understand that there is an inherent risk that the software could contain weaknesses, vulnerabilities or bugs causing, inter alia, a complete loss of the Virtual Currencies.


10.2.3. Risk of transaction Verification: any transaction, transfer, exchange, or custody of Virtual Currencies may be delayed or not be executed due to the transaction volume on the respective blockchain, mining attacks and/or similar events.


10.2.4. Risk of Delayed Fiat exchange: any transaction, exchange, or custody may be delayed due to a delay of execution of the Fiat transaction by the involved banks or payment providers (due to bank holidays, fraud prevention procedures or other compliance issues).


10.2.5. Prices and Availability: all prices during an exchange reflect the exchange rates of brokers and exchanges applicable to the sale of Virtual Currencies.


10.3. We do not own or control the underlying software protocols which govern the operation of Virtual Currencies. We assume no responsibility for the operation of the underlying protocols and do not guarantee the functionality or security of network operations. In particular, the underlying protocols may be subject to sudden changes in operating rules (including “forks”). Any such operating changes may materially affect the availability, value, functionality, and/or the name of the Virtual Currencies. In the event of any such operational change, we reserve the right to take such steps as may be necessary to protect the security and safety of assets held on our website and Bankto platform, including without limitation, suspending operations for the involved Virtual Currencies. You acknowledge and accept the risks of operating changes in applicable protocols and agree that we are not responsible for such changes, and not liable for any loss of value you may sustain as a result.


11. Wallet and Private Keys


11.1.For any virtual currency transactions carried out under the Services, you will use a non-custodial wallet and functionality. We do not control or have access to any funds in your wallet and/or control, store, safeguard, safe keep, or access, the private keys providing access to your wallet. We do not act and shall not be deemed to act as a custodian of your funds and private keys. We do not bear any custodian responsibilities regarding your funds and private keys that could minimize your risk of loss of funds.


11.2. You are solely responsible for maintaining, remembering, securely storing, safe guarding and safekeeping your private keys. Loss or theft of your private keys will result in loss of your funds.


11.3.You acknowledge, agree, and accept that we shall not be liable in cases of error and/or unauthorised access to your wallet and Account, and/or for any loss of funds, money whatsoever.


11.4.We will never request your cryptocurrency wallet recovery keys, or security keys, and none of these are required to make a transaction using the Services. You are solely responsible for maintaining the security of your cryptocurrency wallet, including ensuring that the devices on which you maintain and/or access your cryptocurrency wallet are free from viruses, malware or other compromising code.


12. Exchange Services of Fiat to Virtual Currencies


12.1. For the Virtual Currency Agreement involving the purchase of Virtual Currencies from us using Fiat, you must provide the necessary exchange information in your Account (FV Exchange Information) thereby placing an order (FV Exchange Order). Each FV Exchange Order requires you to specify the Fiat for which you want to buy Virtual Currencies (FV Exchange Funds) or the quantity of Virtual Currencies you want to buy in the Bankto Platform (FV Purchased Funds) and your payment method (see clause 12.3).


12.2. Before performing the exchange as defined in the FV Exchange Order, we will propose to you the applicable exchange rate and the conditions of the exchange (FV Exchange Offer),which is an indicative offer. The duration of the FV Exchange Offer is valid and binding for the period indicated therein. The final exchange rate will be determined at the time we execute the FV Exchange Order at our sole discretion and based on a best effort basis (Final FV Exchange Rate). You shall confirm the FV Exchange Offer (FV Exchange Confirmation) by transferring the specified amount of Fiat to us.


12.3.You may effect a fiat payment to us via:


12.3.1. your credit or debit card by providing your card details. In such a case, you acknowledge that the transfer of Fiat will depend on the performance of such transfer by your bank. We reserve the right not to accept cards that you wish to use.

 

12.3.2. through any digital wallet mobile application that allows you to store card information on, and make payments with, an eligible mobile device,


12.3.3. such other additional payment methods or payment instruments that we may from time to time approve.12.4. By providing the FV Exchange Confirmation you authorize us to execute the FV Exchange Offer and charge you any applicable fees.


12.5. We reserve the right to set the minimum and the maximum amounts to be exchanged in a single operation by indicating such restrictions on the Website.


12.6. We reserve the right to perform an additional KYC Check for each and every FV Exchange Order.


12.7. Any fees chargeable by your bank or intermediary bank or payment provider relating to the use of Fiat, including but not limited to any administration fees, bank’s processing fees and intermediary banks’ processing fees shall be borne entirely by you.


12.8. The amount of time required to process a transfer will depend on various factors, including the performance of third parties and the operation of blockchain. We make no guarantee as to when the exchanged and transferred Virtual Currency or the Fiat will become available to you. We shall not be liable for any partially completed transactions or delays in the processing of your instructions, or inability to process your instructions due to delay, failure, or interruption in, or unavailability of any digital wallet mobile application or the card processing provider. If your payment is not successful or if your payment instrument has insufficient funds, we will not be able to complete the transaction.


12.9. All Virtual Currency exchange risks arising from any transactions will be your sole responsibility. We do not guarantee the availability of any exchange rate.


12.10. The Fiat to Virtual Currency exchange is final and irreversible once you have confirmed the FV Exchange Offer, and you may not change, withdraw, or cancel the authorisation to us to complete any pending or partially completed transaction.


12.11. All Virtual Currency Agreements and sales involving a Fiat to Virtual Currency Exchange transaction are final. For the avoidance of doubt, you cannot denounce the Virtual Currency Agreement, as it has been and/or is considered discharged and concluded.


13. Exchange Services of Virtual Currencies to Fiat


13.1. For the Virtual Currency Agreement involving the sale of Virtual Currencies to us for Fiat, you must provide the necessary exchange information in your Account (VF Exchange Information) thereby placing an order (VF Exchange Order). Each VF Exchange Order requires you to specify the Virtual Currencies for which you want to buy Fiat (VF Exchange Funds) or the amount of Fiat you want to buy in the Bankto Platform (VF Purchased Funds).


13.2. Before performing the exchange as defined in the VF Exchange Order, we will propose to you the applicable exchange rate and the conditions of the exchange (VF Exchange Offer), which is an indicative offer. The duration of the VF Exchange Offer is valid and binding for the period indicated therein. The final exchange rate will be determined at the time we execute the VF Exchange Order at our sole discretion and based on a best effort basis (Final Exchange Rate). You shall confirm the VF Exchange Offer (VF Exchange Confirmation) by following the instructions on the Bankto Platform.


13.3. By providing the VF Exchange Confirmation you authorize us to execute the VF Exchange Offer and charge you any applicable fees.


13.4. Before selling any Virtual Currencies, you need to ensure that they are free and clear of any encumbrances, liens, or charges, and that they belong to you.


13.5. We will perform the exchange and transfer corresponding amount of Fiat to your Payment Account or any other account you designate, after deduction of applicable Fees and other costs.


13.6.We reserve the right to set the minimum and the maximum amounts to be exchanged in a single operation by indicating such restrictions on the Website.


13.7. We reserve the right to perform an additional KYC Check for each and every VF Exchange Order.


13.8. Any fees chargeable by your bank or intermediary bank or payment provider relating to the use of Fiat, including but not limited to any administration fees, bank’s processing fees and intermediary banks’ processing fees shall be borne entirely by you.


13.9. The amount of time required to process a transfer will depend on various factors,including the performance of third parties and the operation of blockchain. We make no guarantee as to when the exchanged and transferred Fiat or any potential refunded Virtual Currencies will become available to you. We shall not be liable for any partially completed transactions or delays in the processing of your instructions, or inability to process your instructions due to delay, failure, or interruption in, or unavailability of any third-party provider or blockchain.


13.10. All Virtual Currency exchange risks arising from any transactions will be your sole responsibility. We do not guarantee the availability of any exchange rate.


13.11. The Virtual to Fiat Currency exchange is final and irreversible once you have confirmed the VF Exchange Offer, and you may not change, withdraw, or cancel the authorisation to us to complete any pending or partially completed transaction.


13.12. All Virtual Currency Agreements and sales involving a Virtual Currency to Fiat Exchange transaction are final. For the avoidance of doubt, you cannot denounce the Virtual Currency Agreement, as it has been and/or is considered discharged and concluded.


13.13. All Virtual Currency exchange risks arising from any transactions will be your sole responsibility.


14. Exchange of Virtual Currencies to Virtual Currencies


14.1.For the Virtual Currency Agreement involving the exchange from one kind of Virtual Currencies to another, you must provide the necessary exchange information in your Account(Virtual Currency Exchange Information) thereby placing an order (Virtual Currency Exchange Order). Each Virtual Currency Exchange Order requires you to specify the kind and amount of Virtual Currencies for which you want to buy another kind of Virtual Currencies (Virtual Currency Exchange Funds) or the quantity and kind of Virtual Currencies you want to buy in the Bankto Platform (Virtual Currency Purchased Funds).


14.2. Before performing the exchange as defined in the Virtual Currency Exchange Order, we will propose to you the applicable exchange rate and the conditions of the exchange (Virtual Currency Exchange Offer), which is an indicative offer. The duration of the Virtual Currency Exchange Offer is valid and binding for the period indicated therein. The final exchange rate will be determined at the time we execute the Virtual Currency Exchange Order at our sole discretion and based on a best effort basis (Final Virtual Currency Exchange Rate). You shall confirm the Virtual Currency Exchange Offer (FV Exchange Confirmation) by following the instructions on the Bankto Platform.


14.3. By providing the Virtual Currency Exchange Confirmation you authorize us to execute the Virtual Currency Exchange Offer and charge you any applicable fees.


14.4. Before selling any Virtual Currencies, you need to ensure that they are free and clear of any encumbrances, liens, or charges, and that they belong to you.


14.5. We reserve the right to set the minimum and the maximum amounts to be exchanged in a single operation by indicating such restrictions on the Website.


14.6. We reserve the right to perform an additional KYC Check for each and every Virtual Currency Exchange Order.


14.7. The amount of time required to process a transfer will depend on various factors,including the performance of third parties and the operation of blockchain. We make no guarantee as to when the exchanged Virtual Currencies will become available to you. We shall not be liable for any partially completed transactions or delays in the processing of your instructions, or inability to process your instructions due to delay, failure, or interruption in, or unavailability of any third-party provider or blockchain.


14.8. All Virtual Currency exchange risks arising from any transactions will be your sole responsibility. We do not guarantee the availability of any exchange rate.


14.9. The Virtual Currency to Virtual Currency exchange is final and irreversible once you have confirmed the Virtual Currency Exchange Offer, and you may not change, withdraw, or cancel the authorisation to us to complete any pending or partially completed transaction.


14.10. All Virtual Currency Agreements and sales involving a Virtual Currency to Virtual Currency Exchange transaction are final. For the avoidance of doubt, you cannot denounce the Virtual Currency Agreement, as it has been and/or is considered discharged and concluded.


15. Virtual Currency Transfers


15.1. You may transfer any Virtual Currencies held in your non-custodial wallet to any other wallet you designate. We will make the said transfer after having deducted the applicable Fees and other costs.


15.2. We do not endorse or guarantee the security of any third-party wallets. You are responsible for safekeeping any applicable passwords and private keys used to access any third-party wallet, and maintain and follow any security protocols, guidelines, and updates on devices used to download and use your wallet.


15.3. We will transfer the Virtual Currencies to external accounts or wallets under your control or under the control of any person other than you only if such third party successfully passes a KYC/AML check determined at our sole discretion. We may verify your control over the receiving wallet(s) used applying any method determined at our discretion. You understand and accept that any transfer to an external account or wallet is subject to the required compliance checks according to the AML/CFT laws and regulations and can be rejected at our sole discretion. We are not obliged to provide any reasons for our decision.


15.4. We do not guarantee any maximum duration for the processing of a transfer-out transaction and disclaim any liability for losses or damages caused by delays in the processing of such transactions. You bear the full risk for the accuracy of the provided recipient addresses for transfer-out instructions as well as for initiating the correct transaction to the wallet address. We disclaim any liability for losses or damages caused when you use or provide incorrect wallet addresses in this regard.


15.5. We will process virtual currency transfers according to your instructions. You are responsible for the content and accuracy of the request. You should verify all transaction information prior to submitting instructions to us, as the transaction may not be cancelled or reversed once initiated.


15.6.You agree to have sufficient Virtual Currencies in your wallet prior to instructing us to effect any Virtual Currency transfer. If your Virtual Currencies in your wallet are not sufficient to cover the amount required for us to complete the transfer, we will not proceed to effect the transfer and we are under no obligation to attempt to fulfill your transfer using an alternative method of transfer.


15.7. The amount of time required to process a transfer will depend on various factors, including the performance of third parties and the operation of blockchain. We make no guarantee as to when the Virtual Currencies will become available to the external wallet. We shall not be liable for any partially completed transactions or delays in the processing of your instructions, or inability to process your instructions due to delay, failure, or interruption in, or unavailability of any third-party provider or blockchain.


15.8. We have no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or sell to or from a third party to which the Virtual Currency transfer is made. We are not responsible for ensuring that a third-party buyer or a seller you transact with will complete the transaction or is authorizedto do so. If you experience a problem with any goods or services purchased from, or sold to,a third party using Virtual Currencies transferred, or if you have a dispute with such a third party, you should resolve the dispute directly with that third party.


16. Applicable Fees and Exchange Rates

 

16.1. We shall charge you the Fees and applicable exchange rates, provided on our Website or the Fee Schedule and as applicable at the moment when a particular transaction is carried out.


16.2. The Fee and exchange rates schedule on our website are subject to change at our sole discretion. Changes shall come into force immediately upon publication of the updated Fee and exchange rates schedule on our Website.


16.3. If you owe us any Fees or any other amounts, we will take the respective Fees or amounts you owe us from the Virtual Currencies or Fiat we process on your behalf on the due date without your instruction or approval. You hereby authorize us to deduct said Feesor amounts on your behalf.


16.4.You must ensure that all required Fees and amounts due to us are available to us on due date. If you do not have enough Virtual Currencies or Fiat to pay the Fees or any other amounts due, we reserve the right to suspend the provision of our Services to you until such Fees and amounts are paid to us.


16.5. We may apply specific discounts and commissions. If so, we will let you know in writing in advance.


17. AML/CTF requirements


17.1. We are subject to mandatory requirements under the AML/CTF laws and regulations of the Republic of Lithuania. As such, we implement strict AML/CFT and know-your-customer checks, before establishing our business relationship with you, during the provision of our services to you, or to carry out occasional transactions and conclude Virtual Currency Agreements. For the purposes of know-your-customer, it is necessary for us to obtain from you and retain the required documents, information, and data confirming your identity and/or the identity of a legal entity you represent and any other relevant documents and/or information, as well as other information for your source of funds, wealth, and other appropriate checks.


17.2. We also implement proper transaction monitoring, carry out monitoring reporting, and checks to identify any suspicious, or unusual operation or transaction, or for random checks.In case of any suspicious or unusual operation, we shall have the right to suspend any transaction, including, but not limited to, the suspension of a withdrawal of your transaction and/or Account, for a certain period of time. In that case, we shall not be liable to you or any third party for any default on any contractual obligations, and/or for any damages or losses sustained by you or any third party.


17.3. We must report any suspicious activity identified during the business relationship with you to the relevant authorities. We shall not be liable to you for the execution of such duties.


17.4. Failure to submit required information and/or documents or provision of incorrect or incomplete information and documents, or failure to comply with our instructions will result in our Services and your Account being or becoming unavailable to you.


17.5. We shall have the right to restrict or terminate the provision of the Services if, before, after, or at the execution of any particular transaction, you do not submit to us or avoid, or refuse to submit to us the requested documents, information, and/or material, or conceal the requested documents, information, and/or material or provide incorrect or in complete requested information, or otherwise fail to comply with any other instructions we give.


17.6. We shall have the right to verify the information provided by you using reliable and independent sources of information and other lawful methods.


17.7. We shall be entitled to terminate a business relationship with you at any time if we determine that continuing such a business relationship with you might expose us exposes us to a money laundering, terrorist financing risk beyond our appetite.


17.8.We have the right to use an outsourcing agent and service provider for the implementation of AML/CFT checks as provided in the Terms and as required by applicable law. If you do not comply with the said provider’s instructions and requests or fail to provide the requested data or information necessary to confirm your identity and/or perform customer due diligence, we have the right to terminate our business relationship with you.


18. Security


18.1. We may stop or suspend the use of the Bankto Platform for safe guarding the security of the Bankto Platform or to prevent the suspected, unauthorized or fraudulent use of the Bankto Platform. We shall not be held liable for any losses whatsoever you or any third party incurs as a result of blocking your access to the Bankto Platform.


18.2.We reserve the right to request a change of your Account for security reasons.


19. Use of subcontractors and third-party providers


19.1. You understand, agree, and accept that we may perform any of our duties or obligations under the Terms through subcontractors, or agents (including affiliates), whenever and on such terms and conditions as we, in our sole discretion, deem necessary or appropriate to perform such duties or obligations or liabilities; provided that no arrangement with such sub contractor, or agent shall discharge us from our duties and obligations for the selection and instruction of such subcontractor, or agent.


19.2. You may be subject to the terms of other third-party providers; in that case, we will share the relevant terms with you.

 

20. Prohibitions


20.1. You should not in any way use the Services, the Bankto Platform, and any other services we may provide to you, and you should not conclude any Virtual Currency Agreements, for any of the following. Please note that this list is non exhaustive, and we reserve the right to modify it at any time.


20.1.1.for any unlawful, illegal, or illegitimate activity, to hide, disguise or conceal the proceeds from any illegal or unlawful activity, for any fraudulent, malicious or abusive activity.


20.1.2. in breach, or potential breach, or non-compliance, or non-conformity of these Terms, any applicable law, including infringing on national and international sanctions imposed by the government of the Republic of Lithuania, the European Union, and other competent authorities.


20.1.3. to disable, disassemble, reverse-engineer or decompile, or attempt any of those inrelation to the Bankto Platform and any connected software.


20.1.4. to act in a way which imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information connected to the Bankto Platform.


20.1.5. to transmit or upload any material to the Bankto Platform or the Website that contains viruses, trojan horses, worms, or any other harmful or delete rious programs.


20.1.6. to attempt to gain unauthorized access to the Bankto Platform or the Website,Accounts of other persons, computer systems or networks connected to the Bankto Platform or the Website, through password mining or any other means.


20.1.7. to infringe on our proprietary intellectual property or any other party’s intellectual property.


20.1.8. to perform any Actions which defame, abuse, extort, harass, stalk, threaten, or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others, or incite, threaten, facilitate, promote, or encourage hateful or violent acts against others.


20.1.9. to defraud us, our users, or any other person, or attempt to defraud us or any other person, or provide any false, inaccurate, or misleading information to us.


20.1.10. to conduct or engage in activity in a way that we believe might harm our ability to provide the Services, Website and the Bankto Platform.


20.2.We reserve the right, without any prior notice or explanation, to refuse any person from using our Services or to terminate an existing relationship with you if we have a reasonable doubt that the activity being carried out by that person/you is in violation any of the prohibitions specified in this section.


21. Development, Modification, and suspension of Services


22.1. We reserve the right to exercise our discretion at any time to develop, improve, and otherwise modify the Website and/or Bankto Platform or other programs related to our Services provision, the functions and functionality of the Website and/or of the Bankto Platform. If needed and possible, at our discretion we will publish information about the changes indicated in this clause on the Website. We assume no responsibility for any losses and inconvenience to you and/or any third parties, which may be caused as aresult of exercising our rights indicated in this clause.


22.2.We may suspend the Services for any of the following reasons: (i) a security incident involving the systems of Bankto; (ii) to comply with any law, regulation, court order, or other governmental requests; (iii) to otherwise protect us from potential legal liability or for other legitimate reasons; (iv) if we cease to have the necessary authorization or licenses to provide the Services for any reason. We will notify you of any suspension as soon as practical. If the grounds for such suspension disappear or are resolved or, after further investigation or discussion, appear to not exist, we shall promptly resume the access to the Services and Bankto Platform. We assume no responsibility for any losses and inconvenience to you and/or any third parties, which may be caused as a result of exercising our rights indicated in this clause.


23. Intellectual Property


23.1.You acknowledge that we and/or our licensors own all intellectual property rights in the Website, Bankto Platform, Services and all features, functionalities, tools, and software, content and documents thereof. This agreement does not grant you any rights to, under or in, any patents, copyright, database right, trade secrets, trade names, trademarks (whether registered or unregistered), or any other rights or licences in respect of our intellectual property, save for your limited right to use the Services and the Bankto Platform in accordance with the Terms.


24. Liability and indemnity


24.1.To the extent permitted by law, we exclude all liability and responsibility for any losses, damages, costs, or expenses, whether in tort (including negligence), contract or otherwise, and whether direct, indirect, or consequential (including in connection with business interruption), which you or any other person may suffer or incur in connection with the Services, the use or inability to use the Bankto Platform, your Account, and in respect of any Virtual Currency, transaction, transfer, or any action carried out thereof, or otherwise, including but not limited to, loss of profits, loss of business, depletion of goodwill and/or similar losses or loss or corruption of data or information, or loss due to technical faults, fluctuations of Virtual Currency and exchange rates, system hacks or attacks, forgotten or lost passwords, security of your passwords and private keys, or unauthorized access to your Account, incorrectly logged transactions or mistyped Virtual Currencies addresses. Nothing in these Terms should be taken to limit any of other terms in these Terms.


24.2.Where and to the extent liability for breach or any implied warranty or condition, or otherwise, cannot be excluded, our liability to you is limited to the total amount of the Fees we have earned from you during the last 3 (three) months (from the event giving rise to the claim for liability) as a result of supplying the Services to you. The foregoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.


24.3.Without any limitation of other terms in these Terms, you acknowledge that we bear no liability for any damage, loss (including loss of profit), delay, inconvenience, failure in performance or interruption of the provision of Services for any reasons, including but not limited to any computer virus, spyware, scareware, Trojan horse, worms or other malware or cyber, phishing or spoofing attack that may affect your computer or other device, any hard fork, soft fork, or other change in the operating rules of an underlying Virtual Currency network, any suspension of the Services permitted under these Terms, any other cause or condition beyond our control.


24.4.We shall not be liable for any currency lost, third party fees or costs of additional transactions of a reversed transaction as may be provided in these Terms.


24.5.You agree to indemnify, release, and hold harmless us, our affiliates and any company under common ownership or control with us or our 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 your use of our Services, or in connection with, or arising out of your failure to notify us of any changes as provided in the Terms that are relevant for compliance with the laws, rules, and regulations applicable to us or you.


25. Taxes


25.1.It is your own responsibility to pay any taxes applicable to you in relation to using the Services.


25.2.We make no representations in relation to tax liabilities, assume no responsibility for the tax liability of any Customer, not for collecting, reporting, withholding, or remitting any taxes arising from any Services that you may use.


25.3.In case we are obliged under applicable law or decide on a voluntary basis to report to any competent authorities any information that is related with your tax obligations, you undertake to provide us with the requested documents, data, and information.


26. Notices and Communications


26.1.Any notice or communication between you and us shall take place and be given by email to the email address registered in your Account and to the email address we provide on our website from time to time.


26.2.A notice or communication delivered by email shall be deemed to have been received at the time of transmission.


27. Data protection


27.1. In order to provide our Services, we collect, use, store and otherwise process information about you as permitted by the laws of the Republic of Lithuania, the European Union General Data Protection Regulation (No 2016/679) and other relevant legal acts.


27.2. We will collect, use, store, and otherwise process information about you as described in detail by our Privacy Policy as available on our Website and as updated from time to time


27.3.You are obliged to inform us in writing immediately in case any information we 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 us in a manner not compliant with applicable laws.


28. Confidentiality


28.1.Each party may be given access to Confidential Information (information that is proprietary to each party or is labelled as such or is reasonably deemed as such,including without limitation, the information on the content of transactions with the Virtual Currencies, security requirements related to transactions with a Virtual Currency, technical data, know-how, trade secrets related to activities of any of the Parties, the non-public Bankto information and all unpublished service manuals,information, data and other similar materials or records provided by the Party to the other Party pursuant to these Terms or otherwise) from the other party in order to perform its obligations under the agreement. A party’s Confidential Information shall not be deemed to include information that:


28.1.1. is or becomes publicly known other than through any act or omission of the receiving party,


28.1.2. was in the other party’s lawful possession before the disclosure;


28.1.3. is lawfully disclosed to the receiving party by a third party with outrestriction on disclosure; or


28.1.4. is independently developed by the receiving party, which independent development can be shown by written evidence.


28.2.Subject to clause 28.4, each party shall hold the other’s Confidential Information in confidence and not make the other’s Confidential Information available to any third party, or use the other’s Confidential Information for any purpose other than the implementation of these Terms.


28.3.Each party shall take all reasonable steps to ensure that the other’s Confidential Information to which it has access is not disclosed or distributed by its employees or agents in violation of these Terms.


28.4. A party may disclose Confidential Information to the extent such Confidential Information is required to be disclosed by law, by any governmental or other regulatory authority or by a court or other authority of competent jurisdiction, provided that, to the extent it is legally permitted to do so, it gives the other party as much notice of such disclosure as possible and, where notice of disclosure is not prohibited and is given in accordance with this clause 28.4, it takes into account the reasonable requests of the other party in relation to the content of such disclosure.


28.5.You acknowledge that details of the Services constitute our Confidential Information.


28.6.The above provisions of this clause 28 shall survive termination of this agreement, however arising.


29. Modification of the Terms


29.1.We shall have a right to amend these Terms unilaterally by publishing the amended Terms on our Website. The amendment of the Terms shall come into force within 10 calendar days upon their publication on our Website. The 10 calendar-day notification period applies only to the Customers who already have an Account with us. For the new Customers, terms are legally binding from publication.


29.2.You shall be deemed to have accepted those amendments if you do not notify us before the date of their entry into force that they are not accepted.


29.3.If you object by email to any proposed amendment in a timely manner, as mentioned in these Terms, you shall have a right to terminate these Terms by email-notice ofter mination.


29.4. Amendments shall not have retrospective effect and shall not affect any rights and/or obligations that have arisen between you and us before amendments came into effect.


30. Inactive Accounts


30.1.If your Account becomes an Inactive Account with a balance due to you, we will apply to you a monthly Inactive Account fee as indicated on our Website or the Fee schedule.


30.2.You authorize and instruct us to deduct the Inactive Account fee from your Inactive Account on your behalf. All costs incurred by us in managing your Inactive Account, will be deducted from your Inactive Account on your behalf.


30.3.To make the Account active, you should process a transaction through your Account or update your contact information, depending on the reason why the Account became an Inactive Account. Inactive Account fees and/or any other costs incurred by us in managing your Inactive Account already deducted from the Inactive Account prior to reactivating the Account are not refundable.


30.4.If the balance of your Inactive Account is or becomes zero or insufficient to cover an Inactive Account fee and/or any other costs necessary for the management of your Inactive Account, we have the right to close your Inactive Account and terminate these Terms unilaterally and immediately without any prior notice.


31. Suspension, restriction, and termination


31.1. Either party may terminate these terms in case of a material breach of the other party by notice via email with immediate effect.


31.2.We shall have a right to terminate these Terms unilaterally at any time and for any reason by giving you not less than 10 (ten) calendar days’ notice via email.


31.3.You shall have the right to terminate these Terms unilaterally for any reason by giving us 1 (one) month notice via email.

31.4.We shall have a right to suspend or restrict the provision of our Services, suspend fulfilment of concluded Virtual Currency Agreements, repudiate from concluded Virtual Currency Agreements, and/or refuse to complete, block or reverse a transaction initiated by you (even when funds are already debited), or terminate these Terms unilaterally where so required by applicable laws and/or by any competent authorities, for the period established under said applicable laws and/or the competent authorities. Otherwise, we will determine the duration, in our sole discretion.


31.5.We shall have a right to suspend or restrict the provision of our Services and/or suspend fulfilment of concluded Virtual Currency Agreements, repudiate from concluded Virtual Currency Agreements, and/or refuse to complete, block or reverse a transaction initiated by you (even when funds are already debited), or terminate these Terms unilaterally and immediately due to any of the following reasons:


31.5.1. we learn or reasonably suspect, in our sole discretion, that you will use or have used your Account to engage in unlawful or improper activity in violation of applicable laws or regulations these Terms, and/or our other applicable terms of use, including, or where you fail to comply with any Terms, or that any transaction or transaction order placed by you is not in accordance with the applicable law and the Terms;


31.5.2. if any circumstances occur or are likely to occur that would give us the right to terminate or otherwise end these Terms;


31.5.3. where we are required to do so under relevant and applicable laws and regulations;


31.5.4. where there is a change in your circumstances (including a deterioration in or change to your financial position), which, in our sole discretion, we consider material to the continuation of the Services;


31.5.5. you fail to notify us about changes in the information provided to us and/or about the circumstances which have or are likely to have a negative impact on the due discharge of your obligations under, and/or of any circumstances that are material for the performance of, these Terms;


31.5.6.you undergo material changes in your circumstances as provided in these Terms,


31.5.7. you provide to us incorrect, incomplete, and/or misleading information or documents, or do not provide, conceal, avoid, or refuse to provide any required information or documents to the us, or submit documents where the veracity or authenticity is in doubt, or the submitted documents and/or information are not in conformity with requirements established by us and/or applicable laws;


31.5.8. there are circumstances that indicate you are related to money laundering and/or terrorist financing;


31.5.9. you fail to submit the data about your financial condition, if such data is necessary for us for the assessment of risk on your solvency or fulfilment of obligations, and/or management of your debt to us;


31.5.10. you fail to comply with our reasonable and/or lawful directions;


31.5.11. you have defaulted on your obligations assumed;


31.5.12. your representations and warranties made under these Terms are no longer true, accurate, or complete;


31.5.13. we suspect that your acts might inflict losses on us and/or cause a threat to our reputation;


31.5.14. your Account is used by third parties without permission or lawful ground;


31.5.15. you act in a way that puts our reputation at risk; or


31.5.16. we perceive a risk of regulatory non-compliance associated with your Account.


31.6.Upon the termination of these Terms and the Account for whatever reason: (i) all rights granted herein shall terminate immediately; (ii) each Party shall promptly return to the other Party, or destroy and certify the destruction of all Confidential Information to the other Party, if any (unless retention of such information is required by applicable laws or foreseen in these Terms or related documents); (iii) each Party shall remit in full all payments due to another Party according to these Terms accruing prior to the date ofter mination, and, without prejudice to any other Terms, following such final payment,neither Party will be entitled to receive any payment from the other Party, subject to any other Terms; provided, however, that the party committing material breach is not entitled to any payment; (iv) any provision of these Terms that by its very nature or context is intended to survive any termination, cancellation or expiration hereof, shall so survive; and (v) all other performance obligations of both Parties under these Terms shall cease.


31.7.The termination of the Terms shall also mean the closure of the respective Account.


31.8. Effect of Account termination or suspension. Notwithstanding the generality of the foregoing, if your Account is closed for any reason, you agree: (a) to continue to be bound by surviving portions of these Terms, (b) to immediately stop using the Services,(c) any rights or licenses provided under these Terms shall end, (d) that we will retain certain information and Account data as required under applicable laws and regulations, and (e) that we shall not be liable to you or any third party for termination of access to the Services, closure of an Account, or retention of information or Account data.


31.9.We shall not be held liable for any loss, damage, or harm arising after we legally suspend or restrict the provision of our Services, transactions, transfers, exchanges, and other services, or terminate these Terms.


31.10. Termination of the Terms shall not exempt you from the due discharge of all obligations to us arising before the date of termination.


31.11. Transactions initiated under the Terms before their termination shall be completed in accordance with the provisions of the Terms applicable before their termination unless otherwise agreed by you and us, as otherwise provided in these Terms, or as otherwise required by law.


32. Final provisions


32.1.Governing law. These Terms and any disputes or claims arising out of or in connection with these Terms or their subject matter or formation (including non contractual disputes or claims) are governed by, and construed in accordance with, the laws of the Republic of Lithuania.


32.2. Jurisdiction. Only the courts in Vilnius, the Republic of Lithuania, shall have jurisdiction over any legal disputes arising from or in relation to these Terms.

 

32.3.Language. You and we shall agree that the language of these Terms as well as communication between you (or any authorized person) and us is to be English.


32.4. Waiver. No failure or delay by a party to exercise any right or remedy provided under this agreement or by law shall constitute a waiver of that or any other right or remedy,nor shall it prevent or restrict the further exercise of that or any other right or remedy.No single or partial exercise of such right or remedy shall prevent or restrict the furth erexercise of that or any other right or remedy.


32.5.Rights and remedies. Except as expressly provided in these Terms, the rights and remedies provided under this agreement are in addition to, and not exclusive of, any rights or remedies provided by law.


32.6.Severance. If any provision or part-provision of these Terms is or becomes invalid, illegalor unenforceable, it shall be deemed deleted, but that shall not affect the validity and enforceability of the rest of these Terms. If any provision or part-provision of this agreement is deemed deleted under clause 32.6 the parties shall negotiate in good faith to agree a replacement provision that, to the greatest extent possible, achieves the intended commercial result of the original provision.


32.7.Assignment. You shall not, without our prior written consent assign, transfer, charge,subcontract or deal in any other manner with all or any of your rights or obligations under this agreement. We may at any time assign, transfer, charge, sub-contract or deal in any other manner with all or any of our rights or obligations under these Terms.


32.8. No partnership or agency. Nothing in this agreement is intended to or shall operate to create a partnership between the parties, or authorise either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).


32.9.Force Majeure. We shall have no liability to you under these Terms if we are prevented from or delayed in performing our obligations under this agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lock-outs or other industrial disputes(whether involving our workforce or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, pandemics, endemics, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or default of suppliers or sub-contractors, provided that you are notified of such an event and its expected duration.


32.10. Survival. Any right or obligation of the Parties in these Terms, which, by its express terms or nature and context is intended to survive termination of these Terms, will survive any such termination.

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