These Terms of Use constitute an electronic agreement between you (hereinafter the “User” or “You”) and Griffex,Limited (Company Registration number 11497340) of Hersham Place Technology Park, Molesey Road, Walton-on-Thames, Surrey KT12 4RZ (hereinafter “Company” or “We”) that applies to the User’s use of this website, any and all services, products and content provided by Company.
As used herein, “Company” refers to the company, including but not limited to, its owners, directors, investors, officers, employees, agents or other related parties, unless otherwise provided herein.
These Terms of Use contain important provisions, which the User must consider carefully when choosing whether to visit the Site and use the services, products and content of Company. Please read these Terms of Use carefully before agreeing to them.
The User is solely responsible for understanding and complying with any and all laws, rules and regulations of his/her specific jurisdiction that may be applicable to the User in connection with the use of any and all services, products and content of Company.
These Terms of Use incorporate Company’s Privacy Policy as well as any other policies, guidelines and or any other operating rules published on the Site by reference, so by accepting these Terms of Use, the User agrees with and accepts all the policies and rules published on the Site
The Company reserves the right to change or modify the Terms contained in these Terms of Use, including but not limited to any policy, guideline or rule of the Site, at any time and at its sole discretion. We will provide notice of these changes by posting the revised Terms to the Site and changing the “Last Revised” date at the top of the Terms, or by emailing users at their provided email addresses, or by any other means as determined by the Company. The decision of which notification form chosen shall be at the Company’s sole discretion. Using a particular form of notice in some instances does not obligate us to use the same form in other instances. Any changes or modifications will be effective at the instant that Company transmits the information to the users (e.g. via email) and publishes the revised Terms, after which they will be applied to all then current and subsequent uses of the Site. Your continued use of this Site acts as acceptance of such changes or modifications.
IF THE USER DOES NOT ACCEPT THESE TERMS OF USE, THE USER SHALL NOT ACCESS THIS SITE AND SHALL NOT USE ANY OF COMPANY’S SERVICES, PRODUCTS AND CONTENT.
1.1. Capitalized terms used in these Terms of Use shall be interpreted in accordance with the definitions provided below:
1.1.1. Account: or otherwise referred to as Griffex Account, means an account registered by the User on the Platform.
1.1.2. Buyer: means the User who submits an Order to buy Virtual Currencies through the Platform.
1.1.3. Commission: means a fee charged by or on behalf of any third party (e.g. bank, non-bank financial institution, payment service provider, etc).
1.1.4. Deposit: means a Transaction involving transfer of Funds to the Account.
1.1.5. Funds: means Virtual Currency.
1.1.6. Order: means the User’s legally binding irrevocable instructions to carry out a Virtual Currency Purchase or Virtual Currency Exchange as further defined herein.
1.1.7. Platform: means the trading platform published by Griffex from time to time at www.griffex.co
1.1.8. Seller: means the User who submits an Order to sell Virtual Currencies through the Platform.
1.1.9. Services: means all and any service provided by Company, as set out at 2.1.
1.1.10. Site: means the Company website at www.griffex.co
1.1.11. Transaction fee: means a fee which is payable to Company for each completed Transaction.
1.1.12. Transaction Price: means the total price paid by the Buyer in respect to each Transaction performed via the Service.
1.1.13. Transaction: means (i)transfer of Virtual Currencies by the User to his/her Account (“Deposit Transaction”); (ii) Virtual currency purchased from Griffex in exchange for Fiat (“Virtual Currency Purchase”) (iii) trading of one type of Virtual Currency in exchange for another type of Virtual Currency directly with Griffex (“Virtual CurrencyExchange”), (iiii)transfer of Virtual Currencies or withdrawal of Virtual Currencies from his/her Account (“Withdrawal Transaction OR Virtual Currency Transfer as referred to herein”)
1.1.14. User: means a person or an entity that agrees to follow the Terms of Use and is a holder of a Griffex Account.
1.1.15. Virtual currency: means peer-to-peer decentralized digital representation of value also known and referred to as virtual financial assets, cryptographic tokens or digital tokens or cryptographic currency (e.g. bitcoins, ethers, etc.) and also includes GFX Token. The Platform will only support non-proprietary Virtual Currency that are not deemed specified investments, tokenized securities or other tokenized financial instruments in accordance with MiFID and the UK Financial Services regime.
1.1.16. Where the context so admits words denoting the singular shall include the plural and vice versa.
2.1. By registering an Account, the User expressly represents and warrants that he/she:
2.2. The User represents and warrants that he/she will only use the Platform to perform Transactions in accordance with the conditions set forth in these Terms and that they are duly authorised and have the capacity to enter into the Transactions on the Platform.
2.3. The User represents and warrants that Virtual Currencies Virtual Currency deposited to the Account belong to the User and are derived from legal sources and that all transactions initiated with your Account are for your own Account and not on behalf of any other person or entity.
2.4. The User represents and warrants than he/she will withdraw any Virtual Currency from his/her Account only to his /her wallets, otherwise Company does not hold any liability for the consequences of such withdrawal.
2.5. The User represents and warrants that all Transactions being carried out do not violate the rights of any third party or applicable laws
3.1. These Terms of Use cover all Services provided on our Platform which include allowing all Users of the Platform to
3.2 The User acknowledges and agrees that, when completing Trading Transactions, he/she is trading with the Company which acts Principal and the counterparty to any trade
3.3. The Services are not regulated by the FCA and the Company is not a regulated financial services provider in the UK. Our Platform does not allow and will not allow trade of any Virtual Currencies or Cryptographic Tokens that are or might be deemed as specified investments, tokenized securities or other tokenized financial instruments in any jurisdiction in which we may operate and particularly accordance to MiFID and the UK Financial Services regime and which shall be immediately removed from our Platform should we become aware of such
4.1. The User has the right to enter and use the Site and the Services, as long as he/she agrees to and actually complies with the Terms of Use. By using the Site, the User agrees to accept and comply with the terms and conditions stated herein.
4.2. The User undertakes to read the entire Terms of Use carefully before using the Site or any of the services provided by Griffex.
4.3. The User agrees that, whenever the Transaction is made, the Platform sends and receives the Virtual Currencies to/from the Buyer’s and the Seller’s Accounts opened in their name and on their behalf.
4.4. The User undertakes to comply with any and all applicable laws and regulations related to the use of the Services.
4.5. The User agrees to pay the Transaction Price and Transaction Fees for Virtual Currency Trading completed via the Platform as defined by Griffex and which Griffex may change from time to time.
4.6. The User undertakes not to use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, financing terrorist organizations, or malicious hacking. In addition, you warrant not to use methods to conceal the location from which you access the Site and that you will disclose to the Company your accurate and true location. Should the Company determine in its sole discretion that the activity on your Account is suspicious or related to any prohibited activity or illegitimate operation, the Company may cancel or suspend your Account, block any outstanding transactions, deny any new transactions, and/or freeze any funds available on your Account.
4.7. The User is responsible for any and all damages caused, and all liability actions brought against Griffex for infringement of any third-party rights or violation of any applicable laws.
4.8. Nothing in the Terms of Use excludes or limits the liability of the User for fraud, death or personal injury caused by their negligence, breach of the terms implied by operation of law or any other liability which may not be limited or excluded by law.
4.9. Users are solely responsible for determining whether any contemplated Transaction is appropriate for them based on their personal goals, financial status and risk willingness.
5.1. Company has the right to suspend the User’s Account and block all Virtual Currency therein in case of non-fulfilment or unduly fulfilment of the Terms of Use by the User.
5.2. Company undertakes to provide the Services with the utmost effort, due care and in accordance with these Terms of Use.
5.3. Company’s responsibility shall be limited to using reasonable technical efforts to ensure the receipt of the Virtual Currency transactions to a user who is not the Company User, Company responsibility shall be further limited to ensuring the transfer of the necessary technical data to the Virtual Currency network.
5.4. To the extent permitted by law, Company is not responsible for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered is caused by a breach of the Terms of Use by Company.
5.5. Company is not responsible for any malfunction, breakdown, delay or interruption of the Internet connection or any reason why our site is unavailable at any given time.
5.6. In the case of fraud, Company undertakes to report all the necessary information, including names, addresses and all other requested information, to the relevant authorities dealing with fraud and breaches of the law. The Users recognize that their account may be frozen at any time at the request of any competent authority investigating a fraud or any other illegal activity.
5.7. Nothing in these terms excludes or limits the responsibility of Company for fraud, death or personal injury caused by their negligence, breach of the terms implied by operation of the law or any other liability which may not be limited or excluded by law.
6.1. Company shall provide the Services with reasonable care and skill and in accordance with these Terms of Use.
6.2. All buy and sell Orders made on the Platform, will be managed in an anonymous manner so that Buyers and Sellers are not acquainted with each other.
6.3. Company represents and warrants that once the orders to buy or sell Virtual Currencies match, such orders may not be cancelled or reversed. It holds all Virtual Currencies acquired by each User in his/her Account and on the respective User’s behalf.
7.1. To be able to access the Platform and use all features and functionality of our Services Users shall be required to register and create a “Griffex Account”. Griffex Account is a user account which provides access to the Platform where the user may request to make a Transaction or use any of the Services.
7.2. Only individuals or institutions that have created a Griffex Account and successfully completed our identity verification process are considered Griffex account holders or members.
8.1. Identification and verification procedures (also known as ‘Know Your Customer’ or ‘KYC’) are required for all the Transactions. If the User refuses to provide required documents and information under KYC, Company reserves the right to immediately terminate the Services provision to the User. We may also restrict withdrawals of Virtual Currency to any external wallet until KYC is completed in accordance with our Anti Money Laundering policies and procedures as implemented from time to time.
8.2. The User undertakes to provide Company with correct and relevant documents and personal information contained therein in accordance to the verification levels and requirements as published on the Site. In case the User provides counterfeit documents and false personal information, such behavior will be interpreted as a fraudulent activity.
8.3. The User hereby authorise Company to, directly or indirectly (through third parties), make any inquiries we consider it necessary to check the relevance and accuracy of the information provided for verification purposes.
8.5. We reserve the right, at any time, to request additional information and documents, which are aimed without limitation to identify our User and to prove the source of the funds. (such process, “Enhanced Due Diligence”). We reserve the right to charge you costs and fees associated with such Enhanced Due Diligence although if we intend to do so, we will notify you in advance. In our discretion, we may refuse to raise your limits or we may lower your limits at a subsequent time even if you have completed Enhanced Due Diligence
8.6. Your access to the Service and the limits that apply to your use of the Service, may be altered as a result of information collected about you on an ongoing basis
9.1. When you create a Griffex Account you oblige that the Site is for the User’s personal and non-commercial use only.
9.2. Griffex is vigilant in maintaining the security of the Site and the Service. By registering with Griffex, the User agrees to provide Griffex with current, accurate and complete personal information as prompted by the registration process and to keep such information updated.
9.3. The User is allowed to register only one Account on the Platform. Thus, any additional Account may be suspended.
9.4. The User agrees that he/she will not use any Account other than their own or access the Account of any other User at any time or assist others in obtaining unauthorized access.
9.5. Griffex reserves the right to recommend amount limits for the Account buy/sell/withdrawal. Griffex could recommend daily, monthly and per one-transaction amount limits.
9.6. The User is responsible for maintaining the confidentiality of information on their Account, including, but not limited to their password, email, wallet address, wallet balance and of all activities including Transactions made via their Account. If there is any suspicious activity related to the User’s Account, Griffex may request additional information from the User, including authenticating documents and freeze the Account for the review time. The User is obligated to comply with these security requests or accept termination of their Account.
9.7. The User undertakes to monitor all and any changes on his/her Account, including but not limited to the balance matters.
9.8. The User undertakes to immediately (i.e. right after the moment of discovery) inform Griffex about any unusual, suspicious, unclear or abnormal changes on his/her Account. In case of late informing or non-informing the User will be liable for the breach of the Terms of Use and Griffex will have the right to take any further steps, accordingly, including but not limited to report to the relevant state authorities.
9.9. The User undertakes to notify Griffex immediately of any unauthorized use of his/her Account or password, or any other breach of security by email addressed to [email protected] Any User who violates the mentioned rules may be terminated, and thereafter held liable for any losses incurred by Griffex or any user of the Site
9.10. Griffex may terminate any Account and/or immediately suspend a User’s Account and block all Virtual Currency therein in case of non-fulfilment or unduly fulfilment of the Terms of Use by the User. and/or if we suspect that any activity in such Account is illegal, prohibited or illegitimate and/or is non-compliant with any laws and/or regulations and/or if we are requested to so act by any competent authority such as court or governmental authority and/or from any other reason under our sole and exclusive discretion. Such termination and/or suspension shall be made without derogating from any other remedy reserved to us for such breach.
9.11. In addition to the foregoing, Griffex reserves the right to terminate your access to and use of the Site and Platform, cancel or deactivate your Griffex Account, immediately at any time, for any or no reason, with or without notice, and will not be liable for such actions
10.1. When you create a Griffex Account, you agree to create a strong password that you do not use for any other website or online service. It is advisable to change the User’s password regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to his/her Griffex Account. Company also advises the User not to choose a password that is easily guessed from information someone might know or gather about the User or a password that has a meaning.
10.2. The User is responsible for maintaining the confidentiality of their Account’s credentials, including, but not limited to the password, email, wallet address, balance and of all activity including Transactions made through the Account.
10.3 Griffex personnel will never ask the User to disclose their password. Any message the User receives or website that he/she visits that asks for their password, other than the Griffex Site, should be reported to Griffex.
10.4. If the User has any security concerns about his/her Account, login details, password or other security feature being lost, stolen, misappropriated, used without authorization or otherwise compromised, the User is advised to contact Support Service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorized use of the Account, login details, password or other security features.
10.5. The User must never allow anyone to access his/her Account or watch the User accessing his/her Griffex Account. Users are solely liable for all activities that occur in connection with and in their Griffex Account through the use of User credentials and or password. Users must keep the credentials and password confidential and secure. The exposure of your Account information may result in the theft of Funds from your Griffex Account. We shall not be liable and/or responsible for any damages and/or losses that a User may bear as a result of unauthorized use of a User’s Griffex Account and/or for any act and/or omission of any third party to whom a User granted access to his/her Griffex Account. User agrees to promptly notify Griffex of unauthorized use of his/her Griffex Account’s credentials and other breach of security related to your Account.
10.6. The User must take reasonable care to ensure that his/her email account(s) are secure and only accessed by the User, as his/her email address may be used to communicate with the User about the security or other confidential information relating to the Account. Griffex cannot be liable for the breach of an email account resulting an unauthorized Transaction to be executed with proper confirmation. In case any of the e-mail addresses registered with the User’s Accounts are compromised, the User should without undue delay after becoming aware of this contact Support Service and also contact his/her email service provider.
10.7. Irrespective of whether the User is using a public, a shared or his/her own computer to access the Account, the User must always ensure that his/her login details are not stored by the browser, cached or otherwise recorded. The User should never use any functionality that allows login details or passwords to be stored by the computer he/she is using.
10.8. Additional products or services the User uses may have additional security requirements and the User must familiarize with those as notified to him/her.
10.9. The company may at its sole discretion apply two-factor authentication in given circumstances in Order to make any Withdrawal Transactions.
10.3. User acknowledges and agrees that in case the destination tag or wallet address as provided by the Company to the User for the purpose of a Deposit Transaction is not specified or is incorrectly indicated by the User in his instructions, the User may lose the deposit or at least the processing speed of such requests will be made with low priority and the Company shall not be held liable or responsible for any loss or damage whatsoever as a result of any such error or omission made by the User.
10.4. User warrants that it owns and is fully responsible for any external account and or wallet that is used for the purposes of sending Virtual Currency deposited to the Platform. Should User receive a deposit to User Account that was not initiated by User, the Company must be inform by User at the first available opportunity after becoming aware of such deposit.
10.5. User shall be permitted to withdraw Virtual Currencies credited to his Account by making a withdrawal instruction via the Platform.
10.6. Subject to restrictions and limits on withdrawal amounts set by the verification levels of the Platform and provided that the balance of Funds in your Account is greater than any minimum balance requirements needed to satisfy any of your open Orders, you may transfer any amount of Virtual Currency, up to the total amount of Funds in your Account in excess of such minimum balance requirements, from your Account to an external account/wallet, less any fees charged by the Company for such transactions (as described in the Fee Schedule at the time of your request).
10.7. Where a withdrawal instruction is received, the Company shall withdraw Virtual Currency from the User’s account and carry out a transfer of the Virtual Currency to an external account/wallet of the User as provided on registration or subsequently agreed with the Company.
10.8. The User acknowledges and agrees that in case the destination tag or wallet address for the purpose of a Withdrawal Transaction is not specified, is incorrectly indicated by the User to the Company, the User may lose the withdrawal and the Company shall not be held liable or responsible for any loss or damage whatsoever as a result of any such error or omission made by the User.
10.9. You warrant that you own and are fully responsible for any external account and or wallet that you have notified to the Company for the purposes of receiving Virtual Currency withdrawn from the Platform.
11.1. Once your Account has been opened you will be able to create a Virtual Currency wallet that will form part of the account and shall be accessible through the Site where you can store your Virtual Currency (the “Griffex Wallet”). Griffex Wallet permits users to carry out Virtual Currency Transfers (send and receive) and to store all Virtual Currencies supported and exchanged with Griffex.
11.2 Your Griffex Personal Wallet enables you to send Virtual Currency to, and request, receive, and store Virtual Currency from, third parties by giving instructions through the Platform (each such transaction is a “Virtual Currency Transaction”).
11.3 We will process Virtual Currency Transactions in accordance with the instructions we receive from you. You should verify all transaction information prior to submitting instructions to us. We do not guarantee the identity of any user, receiver, requester or other party. Virtual Currency Transactions cannot be reversed once they have been broadcast to the relevant Virtual Currency network.
11.4 Once submitted to a Virtual Currency network, a Virtual Currency Transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the Virtual Currency network. A Virtual Currency Transaction is not complete while it is in a pending state. Virtual Currency associated with Virtual Currency Transactions that are in a pending state will be designated accordingly and will not be included in your Virtual Currency Wallet balance or be available to conduct Virtual Currency Transactions.
11.5. We may charge network fees (miner fees) to process a Virtual Currency Transaction on your behalf. We will calculate the network fee in its discretion, although we will always notify you of the network fee at or before the time you authorise the Virtual Currency Transaction.
11.6. Griffex reserves the right to refuse and cancel any pending Virtual Currency Transaction pursuant to, but not limited to as required to do so by law, regulation, competent court Order, or other competent authority:
11.7. By agreeing to these Terms of Use, you expressly agree that you will not attempt to send, receive or store any Virtual Currency that Griffex does not expressly support. If you have any queries as to the Virtual Currencies supported by Griffex do not hesitate to contact our Support Centre.
11.8. Griffex expressly retains absolutely no control, responsibility or liability whatsoever regarding the legality, safety, delivery and or any other such guarantee in connection with any third-party payments or transfers of Virtual Currency to and from your Griffex Personal Wallet/s, such as those with other Griffex customers or transfers to external wallet address destinations as further explained herein and any use or attempt to deal with unsupported Virtual Currencies.
11.9. Any conflicts, problems and associated transactional disputes must be directly resolved between the aggrieved parties. In the event of any unlawful, inappropriate, dishonest or malicious behaviour, you should promptly inform us so that we may consider whether we are able to assist you and advise the best course of action, if any action at all.
12.1. In order to carry out an Order via the Platform ,a User must deposit Funds to his Account by making a deposit instruction.
12.2. Subject to the restrictions and limits on deposits sets by the verification levels, where a Deposit instruction is received, the Company shall provide the User with a Destination Tag and or Wallet address to which, the User can make a Deposit Transaction from his external accounts or wallet.
12.3. User acknowledges and agrees that in case the destination tag or wallet address as provided by the Company to the User for the purpose of a Deposit Transaction is not specified or is incorrectly indicated by the User in his instructions to his external wallet, the User may lose the deposit or at least the processing speed of such requests will be made with low priority and the Company shall not be held liable or responsible for any loss or damage whatsoever as a result of any such error or omission made by the User.
12.4. User warrants that it owns and is fully responsible for any external account and or wallet that is used for the purposes of sending Virtual Currency deposited to the Platform. Should User receive a deposit to User Account that was not initiated by User or which is not known to the User, the Company must be informed by User at the first available opportunity after becoming aware of such deposit.
12.5. User warrants and declares that its owns and is fully responsible for any bank account that is registered with Griffex and used for the purposes of fiat payments deposited into the User’s Griffex account and or for the purposes of any fiat withdrawals
12.6. User shall be permitted to withdraw Virtual Currency credited to his Griffex Wallet by making a withdrawal instruction via the Platform.
12.7. You further understand that once we send you Virtual Currency to your external account/wallet we will be unable to retrieve that Virtual Currency.
12.8. Subject to restrictions and limits on withdrawal amounts set by the verification levels of the Platform and provided that the balance of Funds in your Account is greater than any minimum balance requirements needed to satisfy any of your open Orders, you may transfer any amount of Virtual Currency, up to the total amount of Funds in your Account in excess of such minimum balance requirements, from your Account to an external account/wallet, less any fees charged by the Company for such transactions (as described in the Fee Schedule at the time of your request).
12.9. Where a withdrawal instruction is received, the Company shall withdraw Virtual Currency from the User’s account and carry out a transfer of the Virtual Currency to an external account/wallet of the User as provided on registration or subsequently agreed with the Company.
12.10. The User acknowledges and agrees that in case the destination tag or wallet address or bank account details for the purpose of a Withdrawal Transaction is not specified, is incorrectly indicated by the User to the Company, the User may lose the withdrawal and the Company shall not be held liable or responsible for any loss or damage whatsoever as a result of any such error or omission made by the User.
13.1. The Platform allows the User to submit the Orders to buy or sell Virtual Currencies listed on the Platform in accordance with the User’s electronic instructions issued through the Platform.
13.2. The User recognizes that the Order should only be submitted after careful consideration and the User understands and accepts the consequences of its execution.
13.3. The rate at which the Digital Currency is purchased or exchanged, as applicable, shall be determined in accordance with the Price as displayed on the Site (the “Price” or “Exchange Rate”). We will attempt, on a commercially reasonable basis, to execute the trade on or close to the prevailing market exchange rate, as defined via the Platform. You acknowledge and agree that the Exchange Rate made available via our Platform may differ from prevailing exchange rates made available via other sources outside of the Services.
13.4. Notwithstanding the above, you hereby understand and agree that any Price displayed on the Site at which the Company sells or buys the Virtual Currency is accurate for that present moment alone, and the Price which appears on the Site upon your Order for the Virtual Currency Purchase or Virtual Currency Exchange may not be the final Price or exchange rate of your transaction.
13.5. Moreover you acknowledge and recognize that we reserve the right to change the Price at any time prior to the confirmation by us of any Order. Due to the highly volatile nature of the Price of Virtual Currency particularly during periods of high volume, illiquidity, fast movement in the marketplace and the period of time that may be required to complete a transaction, the actual Price at which an order is executed may be different from the prevailing rate indicated via the Platform at the time of your order. You understand that we are not liable for any such price fluctuations and cannot commit to any Price prior to the confirmation of a final Price by us.
13.6. Prior to carrying out a Transaction, the User must consider the Transaction Fee rates published on the Site https://griffex.co/fee-schedule. However, Griffex reserves the right to change the Transaction Fee rates from time to time, publish updates on the Site and in respect of other charges, as well as the charge procedure can be changed/reviewed unilaterally by Griffex from time to time and such changes shall become effective the moment they are posted on the Site.
13.7. The User agrees to pay Griffex the Transaction Fee/s for each completed Transaction.
13.8. The Transaction fee amount is automatically charged off in the currency indicated after symbol “/” in the trading pair after the relevant Transaction. Thus, for BTC/ETH the fee is charged in ETH; for ETH/BTC the fee is charged in BTC and shall be charged according to the Company’s rounding policy for each Virtual Currency.
13.9. Minimum and maximum fees, as well as minimum and maximum order amount vary for each trading pair and can be seen on the Site when placing an order.
13.10. For specific type of orders the Transaction fee may differ from those published on the ‘Fee Schedule’ page https://griffex.co/fee-schedule. Transaction fee rate shall be disclosed to a User before the order is executed by Griffex.
13.11. The Price, Transaction Fee/s and amount of the Virtual Currency that a User wishes to purchase will be confirmed on the purchase Order form at the time that a User place an Order for a Virtual Currency Purchase or Virtual Currency Exchange and will be displayed to the User prior to any Order on the Site and/or via email.
13.12 The final Price of your transaction (the “Final Price”) will be the Price which appears on the Transaction Confirmation (see xx.xx below) to be sent to your account on the site and via email upon:
13.13. You understand and agree that the Final Price may be either higher or lower than any other exchange rate or Price which was previously available on the Site, in accordance with value fluctuation which may occur.
13.14. As soon as reasonably practicable thereafter we shall execute your Order at the Final Price (the “Execution”). Until Execution, any Order by you shall be considered as pending and not completed and shall not be binding on us whatsoever.
13.15. As soon as reasonably practicable after the Execution of your Order the relevant Virtual Currency shall be delivered by us to your Griffex Wallet. While we will attempt to transfer the Virtual Currency as soon as we can, please note that the transfer may take some time to be processed.
13.16. We shall provide you, either on the Site, via email, or otherwise, a transaction confirmation, detailing the Final Price and other particulars about the purchase and the Execution (the “Transaction Confirmation”). You acknowledge and agree that the failure of the Company to provide such Transaction Confirmation shall not prejudice or invalidate the terms of such Transaction.
13.17. Once the Virtual Currency Purchase or Exchange is completed, it shall be non-reversible, non-cancellable and non-refundable. You may also not be able to cancel any pending purchase Order, however, notwithstanding this general policy, we may, in certain circumstances and subject to our sole and absolute exclusive discretion, cancel any pending transaction upon your request (however, you will not have the right and/or claim against us in the event we shall not cancel such pending transaction).
13.18. Subject to applicable law and regulation, in the event that Griffex may not be able to fulfil or deliver your order, Griffex may at its sole discretion decides to cancel your pending Order after having deducted Fiat Currency or Virtual Currency from your balances of Funds with regards to such Order, the Company will refund such Funds deducted to you minus any costs or expenses incurred with regards to such. Any return for a cancelled transaction shall be at an exchange rate determined at Griffex’s sole discretion. You also acknowledge that in such circumstances you waive any claim and/or right against us regarding the inability to complete any transaction for any reason whatsoever being.
13.19.Griffex reserves the right to deny processing any Order, or cancel any pending transaction if:
13.20. Griffex may place certain restrictions with respect to Virtual Currency Purchase transactions and may place limits with respect to transactions volume in any given period, all in accordance with our policies as may be updated from time to time.
13.21. In the event that a User has an insufficient amount of Funds in their Griffex Account to complete an Order via the Platform, Griffex will not allow the order to be completed and will not partially complete an order.
13.22. The User acknowledges and agrees that due to the inherent nature of the Virtual Currency networks Deposit and Withdrawal Transaction of Virtual Currencies into/from their Account may take some time.
13.23. Minimum deposit amount for Ethereum (ETH) is [0.001], for other Virtual Currencies, such as Bitcoin (BTC), https://griffex.co/fee-schedule minimum deposit amount is 0.0001. If the amount is less than specified, the funds will not be credited to the User’s Account.
14.1. There are two methods by which you can make a deposit:
14.2 Griffex cannot guarantee that all such deposit methods will always be available to all Users. The availability of each deposit method depends on several factors, including but not limited to a User’s location, the identification information you have provided to Griffex, and certain limitations imposed by third party payment processors, if any.
14.3 The fees applicable to each deposit method to facilitate Virtual Currency Purchase are as set out in the Site. We reserve the right to change these fees, from time to time, and any such change shall become effective once updated on the Site.
14.4. You understand and accept that a payment may, in the Company’s sole discretion, not be accepted by the Company if it is made to or from a bank account in a name that does not match your name as registered on your Account with the Company, or that otherwise cannot be identifiable to the Company’s satisfaction as yours.
14.5 You acknowledge that the Company will not be liable for any error with respect to the instructions you provide.
15.1 You acknowledge and agree that Griffex may use third party payment processing service provider in order to facilitate deposits carried out by you. In order to use such payment processing service providers, we may be required to make available to the providers of the processing services with certain information and/or documents about you, including with respect to a transaction executed by you as needed to complete the transaction or as required under any inquiry or in the event of detection of fraud or suspicion of such.
15.2 In accordance with the Company’s Privacy Policy, the Company may use or transfer your information to any other third-party service providers for the purpose of providing you with the Services under the Site or the improvement thereof, as well as for any KYC, AML or CTF procedures, as described hereunder.
15.3 If the Company reasonably believes that a fraudulent act was or is made by you or in connection with your Account, including the use of stolen credit cards or any other fraudulent activity (including any chargeback or other reversal of a payment), it reserves the right to close or suspend your Account, terminate the Terms of Use, and/or reverse or withhold any payment. The Company shall be entitled to inform any relevant authorities or entities (including credit reference agencies) of any payment fraud or otherwise unlawful activity and may employ collection services to recover payments. The Company shall not be liable for any unauthorized use by any third party of credit/debit cards, irrespective of whether or not the credit/debit cards were reported stolen.
15.4 You further agree that you will not make or attempt to make any chargebacks, and/or deny or reverse any payment or deposits that you have made. You hereby agree that you will reimburse us for any chargebacks, denial or reversal of your payments or deposits and any loss suffered by us as a consequence of this. In any such event, we reserve the right to cease to provide the Services, terminate the Terms of Use, withhold payments to you, and take any further action which we may deem necessary.
16.1 All content on this Site is the property of Company and is protected by copyright, patent, trademark and any other applicable laws, unless otherwise specified hereby.
16.2 The trademarks, trade names, service marks and logos of Company and others used on the Site (hereinafter the “Trademarks”) are the property of Company and its respective owners. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this Site belongs to Company. The Trademarks and other content on the Site should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any content from the Site on any other site or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties.
17.1 The User acknowledges and is aware that the risk of loss in trading or holding Virtual Currencies can be substantial and it may result in loss of all the capital invested in a transaction. the price and liquidity of Virtual assets have been subject to extreme market swings in the past and may be subject to large fluctuations in the future, they are based on demand and supply of the market, are highly speculative and volatile and can be exposed to market manipulation.
17.2 Accordingly, there is a high risk of loss associated with trading of Virtual Currencies and you should therefore carefully consider whether our Services and the use of our Platform to trade Virtual Currencies is suitable for you in light of your financial position. You should ensure you fully understand such risks before entering into this Agreement with us. This brief statement cannot, of course, disclose all the risks and other aspects associated with trades related to Virtual Currencies
18.1. Company reserves the right to suspend or terminate your Company Account at any time if we reasonably believe to be required to do so by the law or in order to comply with recommendations issued by a relevant government authority or recognized body for the prevention of financial crime.
18.2. It is strictly forbidden to use the Account for any illegal purposes. Company will report any suspicious activity to the relevant law enforcement.
18.3. The User shall ensure that they do not use the Services for the transactions relating to:
19.1. The User may terminate the Terms of Use and close their Account at any time, following settlement of any pending transactions.
19.2. Once the Griffex Account is closed/withdrawn, upon payment of all outstanding charges and liabilities owed to the Company (if any), the user will have 5 working days to withdraw all Funds from his/her Griffex Account.
19.3. The User also agrees that Company may, by giving notice, at its sole discretion terminate his/her access to the Site and to his/her Griffex Account, including without limitation, our right to: limit, suspend or terminate the service and the Users’ Accounts, prohibit access to the Site and its content, services and tools, delay or remove hosted content and take technical and legal steps to keep the Users off the Site if we think that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties or acting inconsistently with the letter or spirit of these Terms.
19.4. Additionally, we may, in appropriate circumstances and at our discretion, freeze, suspend or terminate Accounts of Users for any reason, including without limitation: (1) attempts to gain unauthorized access to the Site or another User’s account or providing assistance to others’ attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms of Use, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Company, acting at its sole discretion. In the event that a User Account is terminated, suspended/closed for any of the above reasons, the Company shall maintain full custody of the Funds and user data/information which may be turned over to the relevant authorities.
19.5. Company also reserves the right at its sole discretion to close or withdraw unconfirmed Accounts or Accounts that have been inactive for a period of six (6) months or more and/or to modify or discontinue our Site or Service. The User agrees that Company will not be liable to them or to any third party for termination of their Account or access to the Site.
19.6. The freeze or suspension of the Account shall not affect the payment of the Transaction fees due for past Transactions. Upon termination, the User shall provide details of an external account or wallet to allow the transfer of any funds held in his/her Account. Company shall transfer the funds as soon as possible following the User’s request in the time frames specified by Company.
20.1. All Services are provided “AS IS”, without guarantees of any kind, either expressed or implied. We don’t offer any form of warranty with regards to the Service’s stability, accuracy and reliability of the technology. The Platform serves merely as a marketplace for where users can obtain information related to Virtual Currencies and conduct Transactions. Company will use reasonable endeavours to ensure We cannot control the quality, security or legality of the Virtual Currencies involved in any Trading Transaction, legitimacy or correctness of the transaction information, or capacity of the parties to any transaction to perform their obligations under the rules. You must carefully consider the associated risks, legal status and validity of any transaction information and investment decisions prior to your use of the Platform. 18.2. Company will strive to keep the Site up and running; however, all online services suffer from occasional disruptions and outages and in no event shall the Company be liable or responsible for any disruption, errors or omissions in the Platform; any failures, delays or interruptions in the Platform or in delivery of any Order; any losses or damages arising from the use of the Platform.Thus, Company does not provide any guarantees that access to the Site will not be interrupted or that there will be no delays, failures, errors, omissions or loss of transmitted information.
20.2. Company will use reasonable endeavours to ensure that the User can normally access the Site in accordance with the Terms of Use. Company may suspend use of the Site for maintenance and will make reasonable efforts to give the User a notice. The User acknowledges that this may not be possible in an emergency.
Company may provide mobile applications (“mobile apps”), which can be used to get an access to the Account. The use of these mobile apps is the subject to these Terms of Use
22.1. Company does not provide any financial, investment or legal advice in connection with the Services provided. Company may provide information on the price, range, volatility of Virtual Currencies and events that have affected the price of Virtual Currencies, but it should not be considered as an investment or financial advice in any form or manner and should not be construed as such.
22.2. The Company may in its sole and absolute discretion from time to time provide information to the User on practical aspects of dealing between Virtual currency. Notwithstanding any such information provided by Company, the User acknowledges and agrees that it enters into each Order at his/her own free will without reliance on any information provided by the Company and that such Order is at the User’s own risk. The User shall not be entitled to rely on the Company for advice on the timing or terms of any Order.
22.3. Any decision to buy or sell Virtual Currencies is the User’s decision and Company will not be liable for any loss suffered.
23.1. The User undertakes to pay all his/her taxes and duties, which can be resulted from the use of Company Services and should be paid according to the User’s state of residence regulations.
23.2. Company is not responsible for any violation made by the User due to his/her obligation to pay taxes and duties.
24.1. Company reserves the right to send notices to, and communicate with the User by any means of communication available to Company, considering the contact details provided by the User.
24.2. The User expressly agrees to receive any notices in electronic form and to be bound by them, if so required by the Terms of Use.
These Terms of Use shall be governed by and construed in accordance with the laws of England, unless otherwise expressly provided. All disputes and controversies arising out of or in connection with this website and these Terms of Use shall be submitted to the courts of England. If any portion of these Terms of Use shall be deemed invalid, void or for any reason unenforceable, such portion shall be deemed severable and shall not affect the validity and enforceability of any remaining portion.
26.1 THE COMPANY SHALL NOT BE LIABLE TO YOU OR ANYONE ELSE FOR ANY LOSS OR INJURY RESULTING DIRECTLY OR INDIRECTLY INCLUDING ANY LOSS CAUSED IN WHOLE OR PART BY ANY INACCURACIES OR INCOMPLETENESS, DELAYS, INTERRUPTIONS, ERRORS OR OMISSIONS, INCLUDING, BUT NOT LIMITED TO, THOSE ARISING FROM THE NEGLIGENCE OF THE COMPANY OR CONTINGENCIES BEYOND THEIR CONTROL IN PROCURING, COMPILING, INTERPRETING, COMPUTING, REPORTING, OR DELIVERING COINEX, THE SERVICES THEREON OR THE INFORMATION THEREIN. IN NO EVENT WILL THE COMPANY BE LIABLE TO YOU OR ANYONE ELSE FOR ANY DECISION MADE OR ACTION TAKEN BY YOU IN RELIANCE ON, OR IN CONNECTION WITH YOUR USE OF COINEX, THE SERVICES THEREON OR THE INFORMATION THEREIN.
26.2. IN NO EVENT SHALL COMPANY, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND ALL THIRD PARTY SERVICE PROVIDERS BE LIABLE TO THE USER OR ANY OTHER PERSON OR ENTITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING ANY LOSS OR INJURY THAT MAY RESULT FROM (I) FROM YOUR USE OF ANY SERVICES PROVIDED BY THE PLATFORM (II) BY ANY INACCURACIES OR INCOMPLETENESS, DELAYS, INTERRUPTIONS, ERRORS OR OMISSIONS, INCLUDING, BUT NOT LIMITED TO, THOSE ARISING FROM THE NEGLIGENCE OF THE COMPANY OR CONTINGENCIES BEYOND THEIR CONTROL IN PROCURING, COMPILING, INTERPRETING, COMPUTING, REPORTING, OR DELIVERING THE SERVICES THEREON OR THE INFORMATION AND CONTENT OF THIS SITE, AND OF ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (III) THE SERVICES FOUND AT THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IV) PERSONAL INJURY OR PROPERTY DAMAGE OF ANY NATURE WHATSOEVER, (V) THIRD-PARTY CONDUCT OF ANY NATURE WHATSOEVER, (VI) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SERVERS AND/OR ANY AND ALL CONTENT, PERSONAL INFORMATION, FINANCIAL INFORMATION OR OTHER INFORMATION AND DATA STORED THEREIN, (VII) ANY INTERRUPTION OR CESSATION OF SERVICES TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (VIII) ANY VIRUSES, WORMS, BUGS, TROJAN HORSES OR THE LIKE, WHICH MAY BE TRANSMITTED TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IX) ANY USER CONTENT OR CONTENT THAT IS DEFAMATORY, HARASSING, ABUSIVE, HARMFUL TO MINORS OR ANY PROTECTED CLASS, PORNOGRAPHIC, “X-RATED”, OBSCENE OR OTHERWISE OBJECTIONABLE AND/ OR (X) ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USER’S USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT OR ANY OTHER LEGAL OR EQUITABLE THEORY AND WHETHER OR NOT COMPANY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN ADDITION, YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THIS SITE OR THE SERVICES FOUND AT THIS SITE MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE SUCH CAUSE OF ACTION SHALL BE PERMANENTLY BARRED. IN ADDITION, THE USER SPECIFICALLY ACKNOWLEDGES AND AGREES THAT IN NO EVENT SHALL COMPANY’S TOTAL AGGREGATE LIABILITY EXCEED THE TOTAL AMOUNT PAID BY THE USER FOR THE PARTICULAR SERVICES THAT ARE THE SUBJECT OF THE CAUSE OF ACTION. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW AND SHALL SURVIVE ANY TERMINATION OR EXPIRATION OF THIS AGREEMENT OR THE USER’S USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE.
The User agrees to protect, defend, indemnify and hold harmless Company and its officers, directors, employees, agents and third party service providers from and against any and all claims, demands, costs, expenses, losses, liabilities and damages of every kind and nature (including, without limitation, reasonable attorneys’ fees) imposed upon or incurred by Company directly or indirectly arising from (i) the User’s use of and access to this Site or the Services found at this Site; (ii) the User’s violation of any provision of the Terms of Use or the policies or agreements which are incorporated herein; and/or (iii) the User’s violation of any third-party right, including without limitation any intellectual property or other proprietary right. The indemnification obligations under this section shall survive any termination or expiration of the Terms of Use or the User’s use of this Site or the Services found on this Site.
Company reserves the right to amend or modify any portion of these Terms of Use at any time by publishing a revised version of the Terms of Use on the Site. The changes will become effective and shall be deemed accepted by the User, the first time the User uses the Services after the publishing of the revised Terms of Use and shall apply on a going-forward basis with respect to any activity initiated after publishing. In the event that the User does not agree with any such modification, the User’s sole and exclusive remedy is to terminate the use of the Services and close the Account. The User agrees that the Company shall not be liable to the User or any third party as a result of any losses suffered by any modification or amendment of these Terms of Use.
If Company is unable to perform the Services outlined in the Terms of Use due to factors beyond its control including but not limited to the event of Force Majeure, change of law or change in sanctions policy, Company will not have any responsibility to the User with respect to the Services provided hereunder and for a time period coincident with the event.
This Site and the Services found at this Site may contain links to third-party websites that are not owned or controlled by Company. Company assumes no responsibility for the content, terms and conditions, privacy policies or practices of any third-party websites. In addition, Company does not censor or edit the content of any third-party websites. By using this Site or the Services found at this Site, you expressly release Company from any and all liability arising from the User’s use of any third-party website. Accordingly, Company encourages the User to be aware when the User leaves this Site or the Services found at this Site and to review the terms and conditions, privacy policies and other governing documents of any other websites that you may visit.