CoinsPaid – General Terms and Conditions
1. General provisions
The present Agreement stipulates the terms and conditions as well as procedures, under which you (Individual) or Legal Entity you represent, as merchants, can use the CoinsPaid Crypto Payment Gateway 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 the CoinsPaid.
Acceptance of the present Agreement and Terms and Conditions
IMPORTANT! WHEN ACCEPTING THE AGREEMENT BY ANY METHOD ALLOWED, OR BY USING OR ACCESSING THE COINSPAID CRYPTO PAYMENT GATEWAY 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 COINSPAID CRYPTO PAYMENT GATEWAY AND SERVICES WILL BE GOVERNED BY THE PRESENT AGREEMENT.
When and if the Terms and Conditions of the preset Agreement are unacceptable or incomprehensible, or unclear to you fully or in part, you shall have no right to use the CoinsPaid. In case you are in doubt regarding the Terms and Conditions of the present Agreement, you must get competent consultation from a lawyer before entering into any actions related to the transfer, storing, purchase or sale of the Cryptocurrency via CoinsPaid Crypto Payment Gateway.
We do not provide and do not intend to provide any financial and/or other regulated services to you in line with the current local and/or international regulations. In relation to payments and/or transactions in Cryptocurrencies, any legal relations are between you/legal entity you represent as Merchants and your customer making a payment or transaction. CoinsPaid are not a party to relations between you as a Merchant and your customers making payments in Cryptocurrencies. CoinsPaid do not accept any queries, letters, requests and (or) complaints regarding you, your services, products, activities, and (or) a payment and (or) any type of transaction, sale or purchase related to you as a Merchant and your customers.
The terms and definitions used in the present Agreement shall have the following meanings:
CoinsPaid – the private limited liability company “Kindermatica Ltd.” established under the legislation of the United Kingdom, legal entity code 9191428 with registered address: 4, Julian Place Docklands, Poplar, London, UK, E143AT, E-mail: [email protected];
CoinsPaid Crypto Payment Gateway – an Electronic Online Software Platform with relevant user interfaces available on the Website and/or otherwise accessible, owned, administered, supported and developed by CoinsPaid and the services stipulated in the present Agreement and intended for Merchants to accept Cryptocurrencies as payment from purchasers of goods or services;
Merchant – Business/Legal Entity that offers products and/or services related to purchase and sale, deposits and withdrawals as well as any type of transactions in Cryptocurrencies;
Working day – any day of a year, except for Saturdays, Sundays and the holidays;
Website – the website http://cp.loc including all its sub-domains;
Account – a link generated in your name at your sign up (registration) to the CoinsPaid Crypto Payment Gateway, which you can use to login to and identify yourself in the System. CoinsPaid offers 4 types of Accounts: Merchant (for SMBs), Business (Enterprise/Corporation/Holding), Affiliate (Corporate and Individual), CoinsPaid Wallet;
Abandoned Account – any inactive Account through which no transactions have been processed for a minimum of three (3) consecutive months or for which contact information (address, phone numbers, E-mail address) is no longer valid.
Terms and Conditions – the Terms and Conditions of the present Agreement, as well as any Addenda to it, which are referred to in the Terms and Conditions of the present Agreement;
3. Onboarding Requirements for Use of the CoinsPaid Crypto Payment Gateway
The first Onboarding Requirement for using the CoinsPaid is registration of your Account in the CoinsPaid System (only one Account is allowed). The right and possibility to use the CoinsPaid Crypto Payment Gateway will be granted to you only upon and in accordance with the procedures described in the present Terms and Conditions by submitting the required data about yourself and passing the verification. If you are acting on behalf of a legal entity, you must also provide the data about the legal entity represented by you.
- Registration in the CoinsPaid System
- Signing of the CoinsPaid Software License and Service Agreement
- Signing of the CoinsPaid Tech. Support Agreement
- Provision of Onboarding Application Form
- Provision of Tech. Details Application Form
- KYC and Due Diligence Verification
4. Use of the CoinsPaid Crypto Payment Gateway Software
To log in to the CoinsPaid System you can use your own software (desktop or mobile browser) that meets the requirements specified on the Website or the programs (apps) downloaded from the Website provided by us. The requirements for the Software intended for logging in to the CoinsPaid System as well as the instructions for downloading and installation of the programs (apps) provided by CoinsPaid shall be made available at the Website.
By using the CoinsPaid you shall agree and acknowledge that all and any actions (transactions) performed via your Account in the CoinsPaid System related to the provided services offered by the CoinsPaid shall be valid and causing the same legal effects as the actions (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 endorsed with a stamp of such entity.
5. Creation of an Account
To identify you as you log into to the CoinsPaid System through your Account, your E-mail address and a login password created by you as well as data provided by you in accordance with the Registration and Onboarding Procedures laid down further in the present Terms and Conditions shall be used.
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 CoinsPaid System will be created upon specifying your E-mail address and creating your login password.
The creation of the Account will grant you a right to use the Website and familiarize yourself with the operation of the CoinsPaid System, however this will not be a sufficient basis for entering into the Cryptocurrency transactions and related services.
To get access to the Cryptocurrency transactions you shall have to register an Account, disclose properly your identity and provide required documents (the list depends on the required Verification Tier/Level and used Services) to pass the KYC and Due Diligence Verification:
- Signed CoinsPaid Software License and Service Agreement;
- Signed CoinsPaid Tech. Support Agreement
- NDA (optional)
- Signed Onboarding Application Form
- Signed Tech. Details Application Form
- Register in the CoinsPaid System
- Certificate of Incorporation
- Certificate of Good Standing
- Shareholders/Directors Registry
- Memorandum and Articles of Association
- Company OrgChart/Structure
- ID/Passport/Driver License
- Proof of Address
- Bank Details
- Bank Statement
- Bank Reference Letter
- Professional Reference Letter
- Legal Reference Letter
- Audited Financial Statement
- Selfie with ID/Passport/Driver License
- AML/CTF Policy
*Additional documents and/or verification may be required at own discretion of the CoinsPaid and may differ from case to case.
You shall be obliged to inform CoinsPaid 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 CoinsPaid System and must use 2FA. CoinsPaid shall assume no responsibility for any actions in the CoinsPaid 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 the risk regarding the actions indicated in the present clause or any illegitimate actions made via your Account shall fall exclusively on you.
Actions and procedure for creating your account, registration and logging into the CoinsPaid System shall be specified in detail on the Website.
6. Liability Limitations
The CoinsPaid 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 COINSPAID 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 COINSPAID SYSTEM, AS WELL AS YOUR RELATIONS WITH YOUR CUSTOMERS, REGARDLESS OF THE FORM OF ACTION AND WHETHER OR NOT COINSPAID KNEW THAT SUCH DAMAGE MAY HAVE BEEN INCURRED.
IN NO EVENT WILL COINSPAID 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 COINSPAID ACCOUNT, OR ANY INFORMATION CONTAINED THEREIN.
IN NO EVENT WILL COINSPAID BE LIABLE FOR ANY DAMAGES ARISING IN CONNECTION WITH THE COINSPAID SYSTEM FEES CHANGES EARNED BY COINSPAID 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 COINSPAID, ITS AFFILIATES AND ANY COMPANY UNDER COMMON OWNERSHIP OR CONTROL WITH COINSPAID 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 COINSPAID SISTEM OR ANY OF THE INFORMATION, MATERIALS, PRODUCTS OR SERVICES AVAILABLE THROUGH THE COINSPAID SYSTEM.
THE SOFTWARE (COINSPAID CRYPTO PAYMENT GATEWAY) IS PROVIDED “AS IS”, WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT.
IN NO EVENT SHALL THE OWNERS AND DEVELOPERS OF THE SOFTWARE, COINSPAID EMPLOYEES AND AFFILIATES, COPYRIGHT HOLDERS, OR COINSPAID BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
7. Development and Modification of CoinsPaid Software
We reserve a right to exercise at CoinsPaid discretion at any time to develop, improve, and otherwise modify the Website and (or) the applications comprising the CoinsPaid System or other programs related to services provision, the functions and functionality of the Website and (or) of the CoinsPaid Crypto Payment Gateway, 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 CoinsPaid 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 CoinsPaid rights indicated in this clause, or are released from such responsibility.
8. Integration Procedure. APIs
In case you decide to integrate the CoinsPaid Crypto Payment Gateway, any part thereof, application programming interfaces (APIs) in your website and/or system, you do so at your own full risk and cost. In no event will CoinsPaid be liable to you 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 the said integration. CoinsPaid DevTeam and Technical Support will assist on the integration process to simplify it and make more comfortable for the Merchant/Customer.
9. Restrictions on and Termination of Provision of Services
We reserve the right to restrict or terminate provision of services discussed in the Terms and Conditions of the present Agreement to you without any prior warning as well as to block or delete your Account if you fail to fulfil or improperly fulfil your obligations specified in Terms and Conditions of the present Agreement and (or) arising from the present Agreement or otherwise violate the provisions of the present Agreement or when provision of respective services to you might threaten the security of the CoinsPaid or the Website or upon instruction or suggestion from competent public authorities or if such restrictions become necessary according to legislation or if CoinsPaid suspect that you use the services for illegal, fraudulent and (or) unfair activities or if CoinsPaid thinks that your use of the services may damage CoinsPaid 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.
We reserve the right to restrict or terminate provision of services at any time without any prior warning or to impose special conditions for the use of the services if you are engaged in activities that, in CoinsPaid opinion, involve greater risk.
Other restrictions on provision of services or cases and conditions of application thereof may also be specified on the Website.
10. Information Storage
We undertake to store essential information related to CoinsPaid Services and Cryptocurrency Transactions via CoinsPaid System for own needs for at least five (5) years in durable media of CoinsPaid choice in encrypted form.
On the other hand, in order to have proof of actions taken by you or by CoinsPaid in fulfilment of the present Terms and Conditions, you should save corresponding information and store it in durable media of your choice.
We undertake to make appropriate efforts in accordance with usual practice in safekeeping information related to provision of the services (including your data); however, CoinsPaid cannot guarantee total security of the information and data.
Our fees and rates CoinsPaid will charge you for using the CoinsPaid Crypto Payment Gateway and Services as well as for other services provided under the present Terms and Conditions, including the special (additional) provisions thereof, shall be indicated on the Website. You will have to pay CoinsPaid for specific transactions in Cryptocurrency and other financial operations within the scope of CoinsPaid Services at the rates indicated on the Website and applicable at the moment those transactions are carried out.
CoinsPaid hereby reserve the right to apply discounts, at own discretion, on the fees that are to be charged.
12. Cryptocurrency sale and purchase via CoinsPaid
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.
13. Procedure for Application of Discounts
If you are eligible to the discounts, the discount on the Fee applicable for each Cryptocurrency purchase-sale transaction concluded by the Client who has registered in the CoinsPaid System via your referral link, shall be as it published on the Website.
The amount of discount may be designated, at CoinsPaid own discretion, exclusively for you, or exclusively for your client, or divided, in the proportion selected at your own discretion, among yourself and the Client. Your selection may be exercised in accordance with the procedure set forth on the Website.
Discounts referred to in this Section shall be paid in the Cryptocurrency only.
14. Scope of Services. Additional Liability Provisions
Services provided under the present Section allow you having and administering the Cryptocurrency Account in the CoinsPaid System as well as obtaining the Cryptocurrency Transactions information. Therefore, under no circumstances CoinsPaid shall assume the responsibility for any change in or loss of the value of your Cryptocurrency.
You have to take into account that, for objective reasons, the value of the Cryptocurrency may change rather significantly in a rather short time. Therefore, when selling goods and providing services to your Clients and accepting the Cryptocurrency as payment, you should bear in mind that the value of the Cryptocurrency paid may have changed at the moment of return of the goods.
The risk resulting from such value change shall fall on you.
15. Collecting Cryptocurrencies on your behalf
You authorize CoinsPaid to receive Cryptocurrencies, hold, exchange and disburse them, as well as deduct CoinsPaid commission on your behalf, and to take any and all actions that find necessary or desirable to provide the CoinsPaid Crypto Payment Gateway Services or to comply with all applicable law and the present Agreement. Payments by your customer to CoinsPaid will be considered the same as payment made directly to you. CoinsPaid are not authorized to take any action on your behalf, except as stated in 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. CoinsPaid 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 collect Cryptocurrencies to the Virtual Currencies Account exclusively for and on behalf of you.
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 CoinsPaid 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.
16. General Rights and Obligations.
- to act in good faith and adhere to the present Terms and Conditions as well as other provisions, use the CoinsPaid System according to the regulations governing its use, and timely discharge your financial obligations to us;
- to promptly (but not later than on the same working day as you become aware of that) notify CoinsPaid by E-mail address given on the Website of improperly provided services, of loss, theft, unauthorized use or illegal acquisition of the CoinsPaid login data, and also of loss of your smart device used for logging into the CoinsPaid System;
- at request or at the corresponding requirement shown in the CoinsPaid System to correct your personal data so that they are up to date. CoinsPaid reserves the right to immediately, with no additional notification discontinue and (or) suspend any transactions in Cryptocurrency with you if you do not execute or improperly execute your obligations specified in the present clause;
- to register in the CoinsPaid System only once, except when your account becomes accessible to other persons. In such a case you should provide CoinsPaid in writing with the E-mail and Personal Data of those persons authorizing CoinsPaid to grant them access to your Account;
- not to use the CoinsPaid Crypto Payment Gateway and Services for illegal actions (making illegal transactions, fraud etc.) as well as for activity that may hurt CoinsPaid reputation, or for the purposes of money laundering and terrorist financing.
- Should you have any doubts regarding compliance of your activity with requirements set out in this clause you must report the nature of your activity to CoinsPaid and not carry out any transactions in Cryptocurrency until instructed otherwise;
- to take all the reasonable measures necessary to prevent illegal disclosure, appropriation, or use of your data related to transactions in Cryptocurrency;
- at all times to comply with all applicable laws and regulations, including but not limited to anti-money laundering and terrorist financing regulation, personal data protection laws, unfair commercial practices regulations, consumer rights laws, advertising laws.
CoinsPaid obligations to you:
- to act in good faith and with discretion so as to best meet your interests;
- to strive to enable the intended use of the Website and the CoinsPaid Crypto Payment Gateway, timely take measures to correct the operation faults with the Service provision and (or) the CoinsPaid Platform and Services;
- to properly discharge CoinsPaid financial obligations to you.
Having registered in the CoinsPaid System you automatically agree to receive by E-mail (to the address provided at the time of registration) from CoinsPaid information related to transactions in Cryptocurrency, including various offers to obtain additional services, products, etc.
You may cancel your agreement to receive news, promotions, update information, etc. at any time by submitting a corresponding notification to CoinsPaid in the manner specified on the Website.
17. Your Assurances and Guarantees
By using the Website and the CoinsPaid Crypto Payment Gateway, you hereby shall guarantee that the information and data provided by you:
- is accurate, correct, up to date and not misleading;
- is free of viruses or other computer programs or files that could interfere with normal functioning of the CoinsPaid Platform and/or related applications.
Amendments to the present Terms and Conditions.
CoinsPaid hereby reserve the right to exercise at own discretion at any time to amend the present Terms and Conditions by publishing an updated text of the Terms and Conditions on the Website. If after the publishing of the updated text of the Terms and Conditions on the Website you will continue entering into the transactions with the Cryptocurrency, it shall be deemed that you agree with the amended Terms and Conditions and you undertake to be bound by them.
18. Intellectual Property Rights
Any agreements or other transactions entered into on the basis of the present Terms and Conditions shall not be the royalty agreements. CoinsPaid and you shall not transfer or grant any copyright or the rights related hereto to each other, except for the right to use CoinsPaid relevant applications discussed in the present Terms and Conditions or other computer programs that are provided to you so as to enable you to log into the CoinsPaid System and enter into appropriate transactions related to the Cryptocurrency in accordance with the license agreements (package licenses) accompanying respective application or other computer program.
Both CoinsPaid and you shall commit not to disclose any confidential information that comes to our/your knowledge in relation to the present Agreement. This commitment shall be given for an indefinite period. The provision of confidentiality shall not apply when the information is provided by any of the Parties to its lawyers, auditors or other persons invoked by that Party for performance of the agreements provided for in the Terms and Conditions of the present Agreement and obliged by law or written documents to honor the provision of confidentiality, as well as to supervisory bodies and other authorities that have a right to access this information in accordance with the conditions set out by the law.
We shall automatically consider confidential the information on the content of transactions with the Cryptocurrency, security requirements related to the transactions with the Cryptocurrency, technical data, know-how, trade secrets related to activities of any of the Parties, and any other non-public information of the other Party that has been specified as confidential by such Party, and you shall be required to consider it confidential as well.
20. Personal Data Legal Protection
In order to provide Cryptocurrency purchasing and payment processing services, CoinsPaid 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 CoinsPaid 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 CoinsPaid 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 CoinsPaid (information about your representatives and purchasers) on your behalf and pursuant to your instructions for the sole purpose of providing you with the CoinsPaid Crypto Payment Gateway Services.
21. Validity of the Terms and Conditions
Should any provision of the present Terms and Conditions appear to be in conflict with mandatory law and therefore null and void, this shall not make all the Terms and Conditions or the agreements concluded on the basis thereof null and void. In such a case CoinsPaid shall undertake to replace the null and void provision of the present Terms and Conditions with economically and legally nearest its equivalent.
22. Governing Law and Jurisdiction
The Terms and Conditions of the present Agreement have been prepared with reference to the law of the United Kingdom. The agreements concluded on the basis of the present Terms and Conditions and the legal relations resulting from or in relation to them shall be governed by the law of the United Kingdom.
Any legal disputes arising from or in relation to the agreements concluded based on the present Terms and Conditions shall be handled at a competent Court.
23. Submission of Complaints and Claims
You may submit your complaints and claims regarding failure to perform or undue performance of the provisions of the present Terms and Conditions to CoinsPaid by E-mail.
24. Final Provisions
CoinsPaid may announce and amend the present Terms and Conditions as well as the present Agreement from time to time and all the modifications and/or amendments shall be an integral part of the present Agreement and become valid at the time of its publishing with or without prior notification.