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Warning

Last Updated: 03 August 2020

These Terms of Services and any terms incorporated herein (the “Terms”) apply to your (“User”) use of the “Digital Platform”, including limitlex.com, the technology and the platform integrated therein and any applications associated therewith, which are operated and maintained by LIMITLEX PRO OÜ, incorporated and registered in the Republic of Estonia with registry code 14905615 and registered office address at Roseni tn 13, Harju maakond, Tallinn 10111 (“Limitlex”, “We”, or “Us”). We provide you the possibility to use Our Digital Platform (“Services”) on the following terms and conditions.

 

I. GENERAL PROVISIONS

1. DEFINITIONS

1.1. “Communications” shall mean all and any communication, agreement, document, receipt, notice and disclosure, which may be from time to time addressed to User by Limitlex.

1.2. “Deposit/Withdrawal” of Virtual currencies shall mean remittance of Virtual currencies to/from Limitlex Account from/to external third-party service accordingly.

1.3. “Feedback” is any feedback, suggestion, idea or other information or material regarding Limitlex or our Services that you provide, whether by email, posting through our Services or otherwise.

1.4. "Force Majeure Event" shall be understood as any event beyond Limitlex's reasonable control, including but not limited to the flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, suspension of bank accounts of any kind, extraordinary leaps of the course of Virtual currency, communications, network or power failure, or equipment or software malfunction or any other cause beyond Limitlex's reasonable control.

1.5. “Limitlex Account” is a User account accessible after the registration process and via the Services where Virtual currencies may be stored and operated by Limitlex on behalf of a User.

1.6. “Limitlex IP” shall mean all and any copyright and other intellectual property rights in all content and other materials contained on the Digital Platform or provided in connection with the Services, including, without limitation, the Limitlex name, trademark, Limitlex logo and all designs, text, graphics, pictures, information, data, software, technologies, know-hows, sound and video files, other files and the selection and arrangement thereof.

1.7. "Market Value" means in respect of any particular Virtual currency at any given time, the market value which the Digital Platform determines in its absolute discretion, which could be obtained by it on a sale of such Virtual currencies at such time and in such market on which Virtual currencies of the same type are normally dealt.

1.8. "Third-Party Content" is the content provided by third parties, including without limitation links to web pages of such parties, which may be represented on the Digital Platform.

1.9. "Third-party service" is any platform or network in which Virtual currencies belong to you or where you are the beneficial owner of Virtual currencies; and this platform is maintained by a third party outside of the Services; including, but not limited to third-party accounts.

1.10. “Trade” shall be understood as an exchange of the Virtual currency of one type, owned by one Limitlex Account User, to the Virtual currency of another type, owned by the same or another Limitlex account User, at the terms and conditions set forth by such exchange parties and Digital Platform.

1.11. “Transfer” for the purposes herein shall mean a record of Deposit, Withdrawal and/or Trade transaction of Virtual currency into, out from or at User’s Limitlex Account, which is technically executed by Limitlex in accordance with User’s Deposit/Withdrawal request or Trade order.

1.12. “Virtual currencies” shall mean such type of assets which can only and exclusively be transmitted by means of blockchain or similar distributed ledger technology, including but not limited to digital coins and digital tokens and any other type of digital mediums of exchange, such as Bitcoin, Ethereum, Ripple, etc., to the full and absolute exempt of the securities of any kind.

2. WARRANTIES, REPRESENTATIONS AND COVENANTS

2.1. It is a pre-condition that our Services are only provided to those who are permitted to enter in legally binding relationships. Therefore, if there is any reason why you are not able to enter into legally binding relationships with Us, for whatever reason - do not use our Services.

2.2. You further represent and warrant that you:

 a. are at least 18 years old or of other legal age, according to your relevant jurisdiction;

 b. have not previously been suspended or removed from our Services;

 c. have full power and authority to enter into this legal relationship and by doing so will not violate any other legal relationships;

 d. use our Digital Platform with your own e-mail and for your own benefit and do not act on behalf and/or to the interest of any other person;

 e. guarantee that your Virtual currencies, which you transfer to the Digital Platform are not sold, encumbered, not in contention, or under seizure, and that neither exist any rights of third parties to your Virtual currencies;

 f. are not Politically Exposed Person (PEP) or family member or close associate of the PEP. PEPs (as well as family members or close associates of the PEPs) are not allowed to use Limitlex's Digital Platform. In case Limitlex will establish that the User of the Digital Platform is PEP (as well as family member or close associate of the PEP), Limitlex reserves the right to terminate Limitlex Account of such User. For the purpose of these Terms, the definitions "Politically Exposed Person", "family member" and "close associate" have the meaning as defined in § 3 of Money Laundering and Terrorist Financing Prevention Act of Estonia;

 g. will not use our Services or will immediately cease using those if you are a resident or become a resident at any time of the state or region (in accordance with such state or region definition of residency), where the Virtual currencies transactions you are going to execute are prohibited or require special approval, permit and/or authorization of any kind, which Limitlex has not obtained in this state or region. Notwithstanding the above, you are not in any case allowed to access and use our Services if you are located, incorporated or otherwise established, or a citizen or resident of: Afghanistan; American Samoa; Bahamas; Bosnia and Herzegovina; Botswana; Cambodia; Cuba; Ethiopia; Ghana; Guam; Guinea - Bissau; Guyana; Iceland; Iran; Iraq; Jamaica; Lao PDR; Libya; Mauritius; Mongolia; Myanmar (Burma); Nicaragua; Nigeria; North Korea; Pakistan; Panama; Puerto Rico; Samoa; Saudi Arabia; Somalia; South Sudan; Sri Lanka; Sudan; Syria; Tajikistan; Trinidad and Tobago; Tunisia; Uganda; USA; US Virgin Islands; Vanuatu; Venezuela; Yemen; Zimbabwe; or any state, country or other jurisdiction that is embargoed by the United States of America, or a jurisdiction where the local Applicable Law prohibits or will prohibit you at any time (by reason of your nationality, domicile, citizenship, residence or otherwise) to access or use the Services or the Digital Platform (hereinafter, together “The Restricted Jurisdictions”).

Limitlex reserves the right to close any of your Limitlex Accounts, to liquidate any open trade positions, and to force you to withdraw all the Virtual currencies from the Digital Platform in case if: (i) Limitlex determines that you are accessing the Services or the Digital Platform from any Restricted Jurisdiction, or (ii) you have given false representations as to your location of incorporation, establishment, citizenship or place of residence. For the purpose of this clause "Applicable Law" refers to all applicable laws of any governmental authority, including, without limitation, federal, state and foreign securities laws, tax laws, tariff and trade laws, ordinances, judgments, decrees, injunctions, writs and orders or like actions of any governmental authority and rules, regulations, orders, interpretations, licenses, and permits of any federal, regional, state, county, municipal or other governmental authority.;

2.3. When accessing or using the Digital Platform, you further represent, agree and warrant, that you will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Digital Platform. Without prejudice to the generality of the foregoing, you represent, agree and warrant, that you will not:

 a. Use the Digital Platform in any manner that could interfere with, disrupt, negatively affect or inhibit other users from using our Digital Platform with full functionality, or that could damage, disable, overburden or impair the functioning of Digital Platform in any manner;

 b. Use the Digital Platform to pay for, support or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or any other illegal activities;

 c. Use any robot, spider, crawler, scraper or other automated means or interface not provided by Us to access the Digital Platform or to extract data;

 d. Use or attempt to use another User account without authorization;

 e. Attempt to circumvent any content filtering techniques We employ, or attempt to access any service or area of our Digital Platform that you are not authorized to access;

 f. Develop any third-party applications that interact with our Digital Platform without our prior written consent;

 g. Provide false, inaccurate, or misleading information;

 h. Encourage or induce any third party to engage in any of the activities prohibited under this Section.

2.4. YOU INDEMNIFY AND HOLD LIMITLEX PRO OÜ HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH INVALIDITY OR BREACH OF ANY OF THE WARRANTIES, REPRESENTATIONS AND COVENANTS OF THIS SECTION AND THE ENTIRE TERMS.

2.5. You confirm that You have read, fully understood and accepted the Risk Disclosure Statements set out herein.

3. RISK DISCLOSURE

3.1. You acknowledge and agree that you shall access and use the Digital Platform at your own risk. The risk of loss in Trading Virtual currencies can be substantial. You should, therefore, carefully consider whether such Trading is appropriate for you in light of your circumstances and resources. You acknowledge and agree the possibility of the following:

 a. You may sustain a total loss of the Virtual currencies in your Limitlex Account, and, in some cases, you may incur losses beyond such Virtual currencies.

 b. Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, when the market reaches a daily price fluctuation limit ("limit move") and there is insufficient liquidity in the market.

 c. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.

 d. All of the points noted above apply to all Virtual currencies. This brief statement cannot, however, disclose all the risks and other aspects associated with the Trade of Virtual currencies and shall not be considered as any professional advice.

3.2. Risks Associated with the Internet-based Trading System. You acknowledge that there are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that Limitlex shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Digital Platform, howsoever caused.

3.3. Risks Associated with the Blockchain Protocol. The Digital Platform and its related Services are based on the Blockchain protocol. As such, any malfunction, unintended function, unexpected functioning of or attack on the Blockchain protocol may cause the Digital Platform to malfunction or function in an unexpected or unintended manner.

3.4. Risks Associated with Blockchains and Virtual currencies. You acknowledge and accept that Limitlex has no control over any cryptocurrency network and you understand all risks associated with utilizing any Virtual currencies network, including, but not limited to the risk of unknown vulnerabilities in or unanticipated changes to any network protocol. We will not be responsible for any harm occurring as a result of such risks.

3.5. No Control Over Your Own Actions. YOU AGREE TO INDEMNIFY AND HOLD LIMITLEX HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH YOUR USE OF OUR DIGITAL PLATFORM, INCLUDING, BUT NOT LIMITED TO THOSE ARISING FROM YOUR PERSONAL ERROR AND MISBEHAVIOR SUCH AS FORGOTTEN PASSWORDS, INCORRECTLY CONSTRUCTED TRANSACTIONS, LOSS OF YOUR ACCESSES ETC.

4. VIRTUAL CURRENCIES PROTECTION

4.1. We strive to protect your Virtual currencies from unauthorized access, use, or spending. By remitting your Virtual currencies to Limitlex Account you entrust and entitle Us to ultimately take decisions on the safety and security of your Virtual currencies.

4.2. We reserve the right to take different measures of protection, which include, but are not limited to a diversification of Virtual currencies in different allocations whether on a segregate record (account) or not.

5. ELECTRONIC NOTICES

5.1. Consent to Electronic Delivery. You agree and consent to receive electronically all Communications that Limitlex may be willing to communicate to you in connection with your Limitlex Account and/or use of the Limitlex Services. You agree that Limitlex may provide these Communications to you by posting them on the Digital Platform.

5.2. Withdrawal of Consent. You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support. If this is a case you waive your right to plead ignorance. If you decline or withdraw consent to receive electronic Communications, Limitlex may suspend or terminate your use of the Digital Platform.

5.3. Receiving Information. It is your responsibility to have at any time access to your email address that you entered at the time of your registration process on the Digital Platform, so that Limitlex can communicate with you electronically. You understand and agree that if Limitlex sends you an electronic Communication but you do not receive it because your email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Limitlex will be deemed to have provided the Communication to you. You waive your right to plead ignorance. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add Limitlex to your email address book so that you will be able to receive the Communications We send you. If your email address becomes invalid in such a way that electronic Communications sent to you by Limitlex are returned, Limitlex may deem your account being inactive, and you may be not able to complete any transaction via the Digital Platform.

6. SPECIAL CONDITIONS

6.1. Transfer confirmation. Once your Deposit/Withdrawal request or Trade order is executed, a confirmation will be electronically made available via Digital Platform detailing the particulars of the Transfer. You acknowledge and agree that the failure of the Digital Platform to provide such confirmation shall not prejudice or invalidate the terms of such transaction.

6.2. Conditions and Restrictions. We may, at any time and in our sole discretion, refuse to perform any Transfer requested via the Digital Platform, impose limits on the Transfer amount permitted via the Digital Platform or impose any other conditions or restrictions upon your use of the Digital Platform without prior notice.

6.3. Access to the Services. We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services.

6.4. Cancellations. You may only cancel a Transfer request initiated via the Digital Platform if such cancellation occurs before Limitlex executes the Transfer. Once your Transfer request has been executed, you may not change, withdraw or cancel your authorization for Limitlex to complete such Transfer. If a Trade order has been partially filled, you may cancel the unfilled remainder unless the order relates to a market rate Trade. We reserve the right to refuse any cancellation request associated with a market rate Trade order once you have submitted such order. While We may, at our sole discretion, reverse a Trade under certain extraordinary conditions, a User does not have a right to a reversal of a Trade.

6.5. Insufficient Virtual currencies. If you have an insufficient amount of Virtual currencies in your Limitlex Account to complete a Transfer via the Digital Platform, We may cancel the entire order or may fulfill a partial order using the amount of Virtual currencies currently available in your Limitlex Account, less any fees owed to Limitlex in connection with our execution of the Transfers.

6.6. Taxes. It is your responsibility to determine what, if any, taxes apply to the Transfers you complete via the Digital Platform, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that Limitlex is not responsible for determining whether taxes apply to your transfers or for collecting, reporting, withholding or remitting any taxes arising from any Trades and Transfers and does not act as your tax agent.

6.7. Feedbacks. We own exclusive rights, including all intellectual property rights, to Feedback. Any Feedback you submit is non-confidential and shall become the sole property of Limitlex. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to the Feedback (including inter alia any copyrights). Do not provide Feedback if you expect to be paid or want to continue to own or claim rights on it; your idea might be great, but We may have already had the same or a similar idea and We do not want disputes. We also have the right to disclose your identity to any third party who is claiming that any content posted by you constitutes a violation of their intellectual property rights, or of their right to privacy. We have the right to remove any posting you make on our website if, in our opinion, your post does not comply with the content standards set out therein.

7. SUSPENSION AND TERMINATION OF YOUR LIMITLEX ACCOUNT

7.1. In case of your breach of the Terms, or any other event as We may deem necessary, including without limitation market disruption and/or Force Majeure event We may, in our sole discretion and without liability to you, with or without prior notice:

 a. suspend your access to all or a portion of our Services; or

 b. prevent you from completing any actions via the Digital Platform, including closing any open Trade orders. In case the transferring resumes, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event; or

 c. terminate your access to the Services, delete or deactivate your Limitlex Account and all related information and files in such account.

7.2. In the event of termination, Limitlex will return any Virtual currencies stored in your Limitlex Account and not owed to Limitlex, unless Limitlex believes you have committed fraud, negligence or other misconduct.

8. DISCLAIMER OF WARRANTIES. LIMITATION OF LIABILITIES

8.1. Except as expressly provided to the contrary in a writing by Us, our services are provided on an "As is" and "As available" basis. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.

8.2. You acknowledge that information you store or transfer through our services may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including but not limited to software failures, protocol changes by third party providers, internet outages, Force Majeure event or other disasters including third party DDOS attacks, scheduled or unscheduled maintenance, or other causes either within or outside our control. You are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through our services.

8.3. Except as otherwise required by law, IN NO EVENT SHALL LIMITLEX, OUR DIRECTORS, OFFICERS, MEMBERS OF THE MANAGEMENT BOARD, SHAREHOLDERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES OR THE LIMITLEX IP, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM LIMITLEX, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO LIMITLEX’S RECORDS, PROGRAMS OR SERVICES.

8.4. We resume the right, in our sole discretion, to control any action or proceeding (at our expense) to which We are a participant and determine whether We wish to settle it.

8.5. To the maximum extent permitted by applicable law, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF LIMITLEX (INCLUDING OUR DIRECTORS, OFFICERS, MEMBERS OF THE MANAGEMENT BOARD, SHAREHOLDERS, EMPLOYEES OR AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, LIMITLEX OR TO THESE TERMS EXCEED THE FEES PAID BY YOU TO LIMITLEX WITHIN 3 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.

8.6. Limitlex shall not be liable for:

 a. any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information;

 b. any loss or damage arising from a Force Majeure Event.

8.7. We strive to protect our users from fraudulent and scam activities in Virtual currencies sphere. It is possible that some Virtual currencies are purposed for unlawful seizure of the property, or are construed as a fraud, scam or any other activity, recognized by the laws as illegal and/or non-compliant with legal requirements. We reserve the right to prohibit and discontinue any transactions on our Digital Platform with such Virtual currency at our sole discretion, without any prior notice to you and without publication of the reason for such decision, whenever this comes to our knowledge. YOU INDEMNIFY AND HOLD LIMITLEX PRO OÜ HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH PROHIBITION AND DISCONTINUATION OF TRANSACTIONS IN OUR DIGITAL PLATFORM WITH ANY VIRTUAL CURRENCY.

8.8. To be able to access our Digital Platform, the User may use without limitation different mobile devices, such as mobile internet devices, tablets/smartphones and wearable computers ("Mobile Devices"). In no way, we make any guarantee that each particular Mobile Device is compatible with our Digital Platform. YOU AGREE TO INDEMNIFY AND HOLD LIMITLEX HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH YOUR USE OF OUR DIGITAL PLATFORM VIA MOBILE DEVICES, INCLUDING, BUT NOT LIMITED TO THOSE ARISING FROM YOUR INABILITY TO CONNECT TO OUR DIGITAL PLATFORM FROM PARTICULAR MOBILE DEVICE AND YOUR PERSONAL ERROR AND MISBEHAVIOR SUCH AS YOUR LOSS/DAMAGE/DEFECT OF SUCH MOBILE DEVICE.

8.9. THE USER UNDERTAKES TO INDEMNIFY AND HOLD THE DIGITAL PLATFORM AND ITS OFFICERS, EMPLOYEES AND AGENTS HARMLESS FOR ANY LOSS, COSTS, CLAIM, LIABILITY OR EXPENSE ARISING OUT OF OR CONNECTED WITH ANY BREACH BY THE USER OF ITS OBLIGATIONS HEREUNDER INCLUDING ANY COSTS REASONABLY AND NECESSARILY INCURRED BY THE DIGITAL PLATFORM.

9. NO OFFER OF SECURITIES

9.1. Limitlex represents that it does not intend or desire to make Virtual currencies that can be classified as "security" by Estonian authorities available via Digital Platform.

9.2. The responsibility for the fact that the instrument cannot be treated as “security” lies with the owner of Virtual currency. If there is any risk or speculations that a Virtual currency can be treated as “security”, the Digital Platform reserves the right to prohibit and discontinue any transactions on our Digital Platform with such Virtual currencies at its sole discretion.

9.3. We follow the best practices to decide whether Virtual currency is security or not. However, We give no warranty and/or investment, financial, legal or any other professional advice, that any Virtual currency available via our Digital Platform is not a security.

10. APPLICABLE LAW; ARBITRATION

10.1. These Terms and any disputes or claims arising out of or in connection with these Terms or their subject matter or formation (including non-contractual disputes or claims) are governed by, and construed in accordance with, the laws of the Republic of Estonia, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction. Only the courts in Tallinn, the Republic of Estonia, shall have jurisdiction over any legal disputes arising from or in relation to these Terms thereof.

10.2. You and Limitlex agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Limitlex shall be sent to [email protected]

10.3. Whether the dispute is heard in arbitration or in court, you will not commence against Limitlex a class action, class arbitration or representative action or proceeding.

11. MISCELLANEOUS

11.1. Entire Agreement. These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services.

11.2. Order of Precedence. In the event of any conflict between these Terms and any other agreement you may have with Limitlex, the terms of that other agreement will prevail only if these Terms are specifically identified and declared to be overridden by such other agreement.

11.3. Amendments. We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion. If We make changes to these Terms, We will provide you with notice of such changes, such as by sending an e-mail, providing notice on the homepage of the Site and/or by posting the amended Terms via the applicable Limitlex websites and mobile applications and updating the "Last Updated" date at the top of these Terms. The amended Terms will be deemed effective immediately upon posting for any new users of the Services. In all other cases, the amended Terms will become effective for pre-existing users upon the earlier of either:

 a. the date User clicks or presses a button to accept such changes or;

 b. the date User continues use of our Services after Limitlex provides notice of such changes or publishes new version of the Terms on the Website.

11.4. Any amended Terms will apply prospectively to use of the Services after such changes become effective. If you do not agree to any amended Terms, you must discontinue using our Services and contact us to terminate your account.

11.5. No Waiver. Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.

11.6. Severability. The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.

11.7. Assignment. You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from Limitlex, including by operation of law or in connection with any change of control. Limitlex may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.

11.8. Headings. Headings of sections are for convenience only and shall not be used to limit or construe such sections.

11.9. Interpretations. These Terms shall be written and executed in, and all other communications under or in connection with this Terms shall be in English. Any translation into any other language shall not be considered as an official version thereof and shall serve for informational purposes only. In the event of any conflict in interpretation between English text and such translation, English text shall prevail. Terms "Remittance", "Deposit", "Withdrawal", “Trade” and some others referred to herein are used in the reference to Virtual currencies solely and as defined in Clause 1 herein and shall not be deemed as construed for the use in regular financial meaning.

11.10. Competitions. From time to time our business partners, contractors, clients, counterparties may hold different competitions, trials, games and any other type of events available to users through our Digital Platform. By agreeing to participate in such competitions, you shall comply with the rules of each particular competition and act according to them. Unless otherwise provided by the rules of particular competition, Limitlex does not control and is not associated with any of such competition and shall have no responsibility for conducting and holding the competition. Limitlex reserves the right to publish the rules of the competition received from the holder of the competition. You understand and acknowledge that your participation in such competition, and your interactions with the holder of such competition, are at your own risk. YOU INDEMNIFY AND HOLD LIMITLEX HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH INVALIDITY OR BREACH OF ANY OF THE WARRANTIES, REPRESENTATIONS AND COVENANTS GIVING BY THE HOLDER OF THE COMPETITION.

 

II. POSSIBILITIES AND SERVICES OF OUR DIGITAL PLATFORM

12. REGISTRATION OF AN ACCOUNT WITH LIMITLEX

12.1. It is necessary to go through the registration process and create an account with Limitlex to use our Digital Platform in the right order and with its full functionality.

12.2. Limitlex reserves the right, in its sole discretion, to limit the number of Limitlex Accounts that you may hold, maintain or create. Limitlex Accounts cannot be assigned to any third party.

12.3. When you create a Limitlex Account, you undertake to:

 a. create a strong password that you do not use for any other websites, online or off-line services;

 b. provide accurate and truthful information. Please check our Privacy Policy for the information on how We collect, use and share your personal information;

 c. agree to pass through AML/KYC procedures, which may be applied to You from time to time;

 d. maintain and promptly update your Limitlex Account information;

 e. maintain the security of your Limitlex Account by protecting your password and restricting access to your Limitlex Account;

 f. promptly notify Us if you discover or otherwise suspect any security breaches related to your Limitlex Account;

 g. take responsibility for all activities that occur under your Limitlex Account and accept all risks of any authorized or unauthorized access to your Limitlex Account, to the maximum extent permitted by law.

13. DEPOSIT/WITHDRAWAL OF VIRTUAL CURRENCIES TO LIMITLEX ACCOUNT

13.1. Our Digital Platform allows Users to remit Virtual currencies to Limitlex Account from external third-party service and vice versa except to certain limitations, which may be updated from time to time. YOU INDEMNIFY AND HOLD LIMITLEX PRO OÜ HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH YOUR DEPOSIT/WITHDRAWAL TRANSFER REQUESTED IN VIOLATION OF SETTLED LIMITATIONS.

13.2. Authorization to create an address. You understand and acknowledge that an address for receiving Virtual currency will be created automatically as soon as you request the Deposit transfer and before any Virtual currency can be remitted to Your Limitlex Account and you fully and irrevocably authorize its creation.

13.3. Ownership verification. In case you are required to verify that you possess Virtual currency of the third-party service that you use to remit Virtual currency to your Limitlex Account, you undertake to provide such verification by following Limitlex’s instructions.

13.4. Deposit/Withdrawal Authorization. When you request Us to Deposit/Withdraw Virtual currencies into or out from your Limitlex Account, you authorize Limitlex to execute such Transfer via the Digital Platform.

13.5. No control over third-party services. You may be charged fees by the third-party service you use to remit your Limitlex Account. Limitlex is not responsible for any third-party services' fees. You are solely responsible for your use of the third-party service, and you agree to comply with all terms and conditions applicable to any third-party service.

13.6. Rejected or Suspended Deposit/Withdrawal Transfers. In some cases, the third-party service may reject your Virtual currencies to be processed, suspend the Deposit/Withdrawal Transfer of your Virtual currencies, or be not able to support the Transfer, or may otherwise be unavailable. YOU AGREE THAT YOU WILL NOT HOLD LIMITLEX LIABLE FOR ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH SUCH REJECTED OR SUSPENDED ETC. DEPOSIT/WITHDRAWAL TRANSFERS.

13.7. Delays. Subject to the terms and conditions of these Terms, We will use commercially reasonable efforts to record all Transfers on a spot basis as soon as practicable. However the timing associated with Deposit/Withdrawal of Virtual currencies depends inter alia upon the performance of third-parties services, and We make no guarantee that Virtual currencies will be Deposited/Withdrawn in any specific timeframe. YOU HEREBY UNDERSTAND AND ACKNOWLEDGE, THAT ANY DELAYS ARE POSSIBLE; YOU INDEMNIFY AND HOLD LIMITLEX PRO OÜ HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE TRANSFER DELAY, WHETHER ORIGINATED FROM OUR FAULT OR NOT.

14. VIRTUAL CURRENCIES TRADE

14.1. When you submit a new Trade order via the Digital Platform, you authorize Limitlex to:

 a. record a transfer of Your Virtual currencies from/into/on your Limitlex Account and/or,

 b. where applicable, reserve Your Virtual currencies on your Limitlex Account in accordance with such Trade order,

 c. and charge you any applicable fees for such record (as described in the Terms).

14.2. You acknowledge and agree that, respective to your trading activity, Our Digital Platform:

 a. is not acting as your broker, intermediary, agent, or advisor or in any fiduciary capacity;

 b. is not acting as a party of transferring of a particular Virtual currency.

14.3. Trade rates. Each placed Trade order creates different market exchange rates. You acknowledge and agree that the rates information made available via the Digital Platform may differ from prevailing rates made available via other sources outside of the Digital Platform.

14.4. Market volatility. Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any Virtual currencies, the actual market rate at which a market Trade transaction is executed may be different from the prevailing rate indicated via the Digital Platform at the time of your Trade transaction. You understand that We are not liable for any such rates fluctuations.

14.5. The rates made available via the Digital Platform shall not be considered as an investment or financial pieces of advice or referred to as such and cannot be used as a basis of investment strategy, legal position in the court and nothing in the rates information can be ensured to contain no errors, mistakes, misrepresentations or failures etc. THEREFORE, NEITHER LIMITLEX, NOR, WHERE APPLICABLE, ANY OF ITS RESPECTIVE DIRECTORS, OFFICERS, MEMBERS OF THE MANAGEMENT BOARD, SHAREHOLDERS, EMPLOYEES, AGENTS OR OUTSOURCED ADVISORS MAKES ANY REPRESENTATION, WARRANTY OR GUARANTEE WHATSOEVER WITH RESPECT TO THE RATES INFORMATION AND, IN PARTICULAR, AS TO THE ACCURACY OR COMPLETENESS OF THE RATES INFORMATION. YOU AGREE TO INDEMNIFY AND HOLD LIMITLEX HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH YOUR USE OF RATES INFORMATION AND/OR YOUR TRADING ACTIVITY VIA DIGITAL PLATFORM.

16. LIMITLEX’S FEES

16.1. Amount of Fees. You agree to pay the fees for Transfers completed via Digital Platform ("Fees") as defined in our Fee Schedule (https://limitlex.com/page.fees), which We may change from time to time. Changes to the Fees are effective immediately upon posting of the revised Fee Schedule on our Website.

16.2. Payment of Fees. You authorize Us, or our designated payment processor, to charge or deduct your Limitlex Account Virtual currencies for any applicable Fees owed in connection with trades you complete via the Digital Platform.

17. COPYRIGHTS AND OTHER INTELLECTUAL PROPERTY RIGHTS

17.1. Unless otherwise indicated by Us, Limitlex IP is the proprietary property of Limitlex or our associated legal entities or our licensors or suppliers and is protected by Estonian and international copyright laws and other intellectual property rights laws.

17.2. We hereby grant you a limited, nonexclusive and non-sublicensable license to access and use the Limitlex IP for your personal or business use solely for the purposes of regular use of the Digital Platform.

17.3. Such license is subject to these Terms and does not permit:

 a. any resale of the Limitlex IP;

 b. the distribution, public performance or public display of any Limitlex IP;

 c. reverse engineering, decompiling, disassembling, modifying, adapting or otherwise making any derivative uses of the Limitlex IP, or any portion thereof; or

 d. any use of the Limitlex IP other than for the intended purposes.

17.4. The license granted under this Section will automatically terminate if We suspend or terminate your access to the Services.

17.5. You warrant and covenant that you will not attempt to discover the source code or algorithms of the Digital Platform.

18. THIRD-PARTY CONTENT

18.1. While using our Digital Platform, you may view Third-Party Content. We do not control, endorse or adopt (unless otherwise expressly stated by Us) any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.