|
|
|
Thanks for credit and using our services (“Services”). The Services are provided by VNDFlex (the “Company”). The Terms of Services (“Terms”) set out the conditions under which the Company offers the users of its exchange platform (the “Platform”) and payment method. The Platform, provided and operated by the Company, is an electronic software service site for trading cryptographic digital currencies (“Crypto currencies”) with other users of the Platform (“Users”).
Please read the Terms carefully. By using the Services, and further by registering to use our Platform, you (“You, Yourself”) have confirmed that you follow and comply with the Terms and Conditions of use stated below. The Company reserves the right, at its discretion, to change any condition of the Terms, at any time. The changes will be posted minimum three days in advance on announcement page of our website. Your responsibility is to review the new edition of the Terms. As long as you follow the Terms as modified from time to time, the Company grants you a personal, non-exclusive, non-transferable, non-sublicensable, limited right to access and use the Platform.
NOTHING in this website or the Platform should be considered as
The Company has absolute discretion in accepting or rejecting an application to be a User. The Company also reserves the right to determine who would be banned from the Platform at any time without prior notification.
The Company is not a principal in any Transaction. By giving an Instruction ("Instruction" or "Order"), the User appoints the Company as its agent to match the User's Instructions to buy or sell the specified Crypto Currency at the price nominated by the User against Orders from other Users.
Upon matching orders, all Transactions will be automatically subject to settlement and delivery, and any Instruction is irrevocable authority from the User to the Company to access the User's account to settle the Transaction and deduct any Commission or Fee or other amount owing to the Company under these Terms or for any other reason.
The Platform will automatically execute the Orders in which they are given in Instructions of the Users, but regarding to the price at which the Orders has been placed. In case the Instructed Order is large, the Platform will separate the Order into parts
The User acknowledges that Platform operation will charge Fees and Commissions on Transactions. Fee and Commission proportions are shown in Company’s site and may be updated from time to time. These updates will be posted minimum three days in advance on announcement page of our website. The Fee and Commission will be deducted from the total processing amount of each completed Transaction.
In order to fully use the Platform, you are required to complete verification procedures which are providing the Company with certain personal information, including, but not limited to: email address, telephone number, real name, date of birth, identification documents and information regarding your bank account. By submitting these personal information, you verify that the information is accurate and authentic, and you agree to notify the Company any time if any information changes.
Users have the responsibility to maintain the confidentiality of their account information, including their password, and for all activity including Instructions and Transactions which occur on their account. Users agree to notify the Company immediately by email of any unauthorized use of their account or password, or any other breach of security. The Company will not be liable for any loss a User may incur as a result of unauthorized use of that User's account's credentials. Users will be held liable for losses incurred by the Company or any other User of the Platform due to someone else's unauthorized use. Users shall not use any account other than their own or access the account of another User at any time. Users may not attempt to gain unauthorized access to the Platform, and any attempt to do so or to assist others (Users or otherwise) to do so, or distribution of instructions, software or tools for that purpose, will result in the accounts of such Users being terminated, and this does not limit the right of the Company to take any other action against you.
Users may not create or use any account other than their own. For a User to be exempt from any of these rules, the User must request express and prior permission from the Company. The creation or use of multiple accounts without obtaining such prior express permission from the Company will lead to the immediate suspension of all User accounts on the Platform, as well as all pending trades.
Money laundering is defined as the process where the identity of the proceeds of crime are so disguised that it gives the appearance of legitimate income. Criminals specifically target financial services firms through which they attempt to launder criminal proceeds without the firm's knowledge or suspicions.
In response to the scale and effect of money laundering, Vietnam has passed legislation designed to prevent money laundering and to combat terrorism:
These legislations, together with regulations, rules and industry guidance, forms the cornerstone of AML obligations for Vietnam firms and outline the offences and penalties for failing to comply. Whilst the Company is currently unregulated and do not fall with the scope of the AML obligations in the Vietnam, the senior management have implemented systems and procedures that meet Vietnam AML standards. This decision reflects the senior managements desire to prevent money laundering.
This AML Policy sets out the minimum standards which must be complied with and includes:
All Deposited money credited to User's account will be maintained in trust in a bank account with a reputable Vietnamese deposit-taking institution under the Company's name or in the name of a custodian appointed by the Company. Such account may be segregated for each User or be a pooled account containing funds of multiple Users of the Company's products. The Company retains absolute discretion to determine whether to use segregated or pooled accounts and the Company retains the right to switch between segregated or pooled accounts without approval from a User. However, if the Company maintains User accounts in a pooled account, it will ensure that proper procedures are maintained at all times to identify the assets of each User. Regardless of whether pooled or segregated accounts are used, at no time will the Company mix its own funds with assets held in a User account.
All User accounts denominated in Deposited money may be converted to Crypto Currencies upon a User's entering Transactions through the Platform. The Crypto Currencies in a User's account may only be transferred to other Users through the procedures of the Platform's electronic trading platform or withdrawn according to the Company's procedures.
Although Crypto Currencies are held by the Company on User's behalf, the User remains the absolute beneficial owner of the number of Crypto Currencies which are identified in the User's account. The Company will maintain strict procedures to ensure that the correct number of Crypto Currencies are recorded as the property of the relevant User, as well as adopting security measures to prevent Crypto Currencies being misused, misplaced, misappropriated or stolen.
Deposits and withdrawals of Crypto Currencies are made within the Platform. Upon sign up the Platform generates a deposit address for each User, which is specified by reference to Crypto Currency type (e.g.: Bitcoin, Ethereum, Dash, etc.). Users will be able to send Crypto Currencies to these addresses. Users must not disclose their deposit addresses to any person other than when transferring Crypto Currencies to or from their account. For security reasons, a new deposit address may be issued for each Crypto Currency transfer, although each deposit address ultimately points to the User's account.
Users acknowledge that:
The User acknowledges that once an Instruction is placed it is irrevocable, and once a Transaction is matched, it will proceed immediately to settlement and delivery through the Platform. The User acknowledges that, when a Transaction is entered, the Platform sends and receives the Crypto Currencies from the buyer's and the seller's respective accounts.
It is the User's responsibility and the User undertakes to ensure that it holds sufficient Deposited money and/or Crypto Currencies in its account to meet its settlement obligations and any other liabilities arising from any Transaction, including sufficient Deposited money to meet the Commission. In addition, the User undertakes to ensure that it retains in its account sufficient Deposited money to meet any regular Fees payable on the account.
The User represents and warrants that:
The User will not:
The User confirms that in using the Platform and holding and transacting in Crypto Currencies, it has considered the risks posed by such actions, including the risks that:
The User is responsible for any tax liability arising from its holding or Transactions in Crypto Currencies and will indemnify the Company where the Company is obliged to pay tax on behalf of the User in respect of the User's account or any Crypto Currency held, or bought or sold by the User.
A registered User may close its account at any time by notification to the Company in the form given by the Company.
The Company may suspend or terminate a User's Account at any time immediately upon written notice to the User for any reason, including without limitation:
The Company may by notice to Users discontinue or modify the Platform and/or revise or terminate these Terms at any time. Users are deemed to have accepted these revisions or termination to the extent that they continue using the Platform.
Subject to these Terms and applicable laws, within 60 days of closure of a User's account, whether by the User or the Company, the Company must:
The Company is entitled to retain from any amounts (whether Crypto Currency or Deposited money) which may otherwise be payable to the User on closure of its account any amount payable by the User to the Company, including as fees or commissions on sale of Crypto Currencies under 2. b. above. The Company may be legally limited in the values it may refund over a certain period of time and a User shall not hold the Company liable for an inability to refund all values as expeditiously as the User may desire.
The User also agrees that the Company may, in its sole discretion by giving notice, terminate Users' access to the Platform, prohibit access to the Platform and its content, services and tools, delay or remove hosted content, and take technical and legal steps to prevent the User's access to the Platform if the Company - in its exclusive discretion - believes that the User has breached or may breach these Terms or is otherwise acting inconsistently with the intentions of these Terms.
The Company also reserves the right to terminate accounts that have been inactive for a period of 6 months or more, or to modify or discontinue the System. Users agree that the Company will not be liable to them or to any third party for termination of their accounts or access to the System.
Notwithstanding any suspension or termination of a User's account, the User remains liable for all fees and commissions payable in respect of the account or any Transaction entered prior to the suspension or termination.
Unless otherwise indicated by us, all materials contained in this website which are related to texts, information, data, charts, graphics, images, logos, software, audio files, video files and other files including any other contents related to the Platform are owned by the Company and are protected by the copyright laws of Vietnam.
Users may view, print and/or download a copy of the materials from this website for personal, informational and non-commercial purpose. DO NOT reproduce, republish or modify without the prior authorization of the Company. The Company will take any available action in law to protect its intellectual property.
The User indemnifies the Company and each of its directors, officers, shareholders, advisers, consultants, agents and contractors (each a "Company Indemnitee") against all liabilities, claims, losses and expenses (Losses) which may be incurred or suffered by the Company Indemnitee directly or indirectly arising out of any failure by the User to maintain sufficient Deposited money or Crypto Currencies in its account or otherwise for failing to meet its obligations under these Terms. Such Losses may include legal fees incurred in defending or responding to such Losses and consequential losses. This indemnity will apply regardless of whether a Transaction was entered in error, but will not apply to the extent that Losses were incurred or suffered by a Company Indemnitee due to its own fraud or wilful default.
To the extent permitted by law, none of the Company or the Company Indemnitees will be held liable for any damages, losses, costs, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, or any other direct, indirect or consequential loss to any person including the User arising out of use of the Platform, the Company acting on any Instruction, any Transaction, any failure of the Platform, any failure or lack of any security measures or for any other reason, except to the extent of the Company's fraud or wilful default. The Company shall not be liable for any perceived loss as a result of cancelling in whole or in part a User's Instructions.
The Company will not be held liable for any malfunction, breakdown, delay or interruption to the Internet connection, or if for any reason the Platform is unavailable at any time or for any period. The Company makes no representation that its website or the Platform is free from errors, viruses, worms or other technical anomalies which may cause problems or damage to User's own computer hardware or software, and the Company accepts no liability for such errors, viruses or worms.
While the Company takes appropriate measures to ensure the website, the Platform and all of the Company's systems are properly secured and protected against attack, it gives no warranty that its security systems are impregnable and loss of Crypto Currencies and Deposited money held on behalf of Users and data referring to or belonging to Users may occur.
Where the Company's website contains links to other sites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them.
In the case of fraud or other suspicious activities, the Company will report all necessary information, including names, addresses and all other requested information, to the relevant authorities dealing with fraud and breaches of the law. Users recognize that their account may be frozen at any time at the request of any competent authority investigating a fraud or other suspicious activity.
Nothing in these terms excludes or limits the liability of either the Company or the User for fraud, or any other liability which may not by law be limited or excluded.
Subject to the foregoing, the Company's aggregate liability in respect of claims based on events arising out of or in connection with a User's use of the Platform, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held in the User's the Platform Account for the User making a claim less any amount of commission that may be due and payable to the Company in respect of such account; or (b) 125% of the value of the Transaction(s) that are the subject of the claim less any amount of commission that may be due and payable to the Company in respect of such Transaction(s).
If any provision of these Terms is deemed invalid or unenforceable by a court of competent jurisdiction, the provision will be enforceable to the maximum extent permissible and the remaining provisions remain in full force and effect.
In these Terms:
Commission means an amount levied as payment to the Company for arranging and matching a Transaction. A Commission is generally levied as a percentage of the value of a Transaction.
Deposited money means the authorized currency of Vietnam (VND) or such other sovereign nation as is acceptable to the Company and held in a User's account.
Fee means an amount levied by the Company in relation to withdrawal process.
Instruction means an offer to buy or offer to sell Crypto Currencies through the Platform at the price, if any, nominated in such Instruction plus any applicable Commission.
Transaction means the purchase or sale of Crypto Currencies arising from an Instruction.