Prime XBT provides most transparent trading environment and discloses all terms and conditions in detail
All Services related to PrimeXBT Turbo Platform, including but not limited to execution of transactions in Short-Term Bitcoin Settled Contracts, are provided by Prime Digital Instruments LLC (a company incorporated under the laws of Saint Vincent and the Grenadines, registration number 221LLC2019, with an office on First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines)
Please find below a comprehensive list of legal documents related to the use of the PrimeXBT Turbo Services. It is important that you make yourself aware of these and agree to them before using this Platform.
Before our client and/or prospective client applies for the Account with Prime Digital Instruments LLC (the ‘Company’) and begins executing transactions in Short-Term Bitcoin Settled Contracts, please review in great detail a list of risks stated below.
The products provided by the Company, including Short-Term Bitcoin Settled Contracts carry a significant level of risk. As a result, Short-Term Bitcoin Settled Contracts may not be suitable for all users because you may lose a part or all of your invested capital. You should never put more capital at risk than you are prepared to lose. Before executing transactions in Short-Term Bitcoin Settled Contracts you have to understand the risks involved and your level of experience should be unbiasedly evaluated. You should seek independent advice if necessary.
The prices of Short-Term Bitcoin Settled Contracts offered by the Company derive their value from the price action of the underlying instruments. Information on the previous performance of Short-Term Bitcoin Settled Contracts does not guarantee the same results of its current and/or future performance. The use of historical data does not lead to precise and reliable forecast.
Transactions in Short-Term Bitcoin Settled Contracts offered by the Company can put your capital at significant risk. Executing transactions in the Short-Term Bitcoin Settled Contracts offered by the Company is not suitable for all users. You acknowledge, and without any reservation accept, that the price of any Short-Term Bitcoin Settled Contracts may vary significantly either upwards or downwards. You acknowledge, and without any reservation accept, the existence of a substantial risk of incurring losses and damages as a result of the executing transactions in Short-Term Bitcoin Settled Contracts offered by the Company and acknowledge your intent and willing to take such risk.
The Company will not and will never provide you with any recommendations or with any advice that is directly or indirectly connected with the Short-Term Bitcoin Settled Contracts and you acknowledge that the Services provided by the Company do not include transaction execution in Short-Term Bitcoin Settled Contracts.
You have to note that the Company may provide you with useful information on relatable subjects created by third parties BUT the Company does not approve or endorse this information and/or these tools. Such information may include transaction execution opportunities and it should be understood that, by taking any actions as a result of this information/tools, you accept and understand that it can cause loss of a part or all of your capital. We don’t accept any liability for any such losses resulting from actions taken by you based on information and or tools produced by third parties.
The Company may also provide, at its discretion, information, news, market commentary or any other information through its Website, agents or Platform but when it does so, it is understood that the information is provided solely to enable you to make your own decisions and does not amount to transaction execution advice. You fully accept that you are solely responsible for any transaction in Short-Term Bitcoin Contracts you execute and that any transaction you execute is done basing upon your own judgment.
Risks associated with executing transactions in Short-Term Bitcoin Settled Contracts
The Short-Term Bitcoin Settled Contracts are not suitable for all clients. These Contracts are highly complex and such Clients must always make sure that they are fully aware and understand the specific characteristics and risks regarding the listed Services.
Due to the high volatility of Short-Term Bitcoin Settled Contracts prices can vary considerably during the course of a day, which may bring you profit as well as significant loss. Short-Term Bitcoin Settled Contracts with volatile price fluctuations should be carefully considered as there are higher risks of loss. Prices may fluctuate due to changes in market conditions which is beyond your control and that of the Company and it may not be possible for transactions to be executed at the declared prices resulting in losses.
Executing transactions in Short-Term Bitcoin Settled Contracts carry a high risk of losing a part or all of the capital in your Account.
Prices of the Underlying instruments carry high volatility and thereby can widely fluctuate or become temporarily or permanently unavailable, therefore Clients should execute transactions carefully and only with funds that they can afford to lose.
The nature of Bitcoin and transactions in Short-Term Bitcoin Settled Contracts may lead to an increased risk of fraud or cyber-attack, and may mean that technological difficulties experienced by the Company may prevent the access to the Services.
We are not responsible for financial losses arising from failure, malfunction, interruption, disconnection or malicious actions of information, communication, electricity, electronics or other systems, which are not the result of gross negligence or willful default of the Company.
When executing transactions on the Platform, you take into consideration the risks arising from:
1. Failures in your software, equipment, and connection;
2. Errors in your Platform settings;
3. Failure to update your internet browser version in a timely manner
4. Your failure to follow the instructions for using the interface of the Platform.
We are not responsible for errors that occur in the operation of the Platform and will not compensate losses resulting from errors in the operation of the Platform.
You must understand that any third-party attacks against the Company’s Systems which result in disruption of services or loss of funds, are not the responsibility of the Company and any liability for resulting losses will not be compensated by the Company.
The Company ensures that it takes all reasonable measures to deflect such attacks and to provide you with a secure and smooth transaction execution experience.
The Company does not accept Transaction Execution Orders over email, phone or live chat.
You must fully understand that the unencrypted information transmitted by e-mail is not protected from any unauthorized access.
You may suffer financial losses caused by the materialization of the above-mentioned risks, and you understand that you shall be responsible for all related losses that you may suffer, assuming that these are not owed to the Company’s gross negligence or willful default.
Abnormal Market Risks
You fully agree that the amount of time required to process your Orders and/or instructions may significantly increase if market conditions become abnormal. Additionally, you agree and acknowledge that Orders may not be executed at declared prices and there is a chance that they may not be executed at all.
Abnormal market conditions include but are not limited to: times of rapid and volatile price movements, severe fluctuations in the same trading session and as a result, under the rules of the relevant exchange, trading is suspended or restricted, or there is lack of liquidity, or this may occur at the opening of trading sessions.
Risks Associated With The Laws Of Certain Governments
You also assume and acknowledge responsibility for all transactions in Short-Term Bitcoin Settled Contracts performed within countries where they are restricted or prohibited by local law.
Laws regarding Short-Term Bitcoin Settled Contracts may differ throughout the world. It is your obligation to make sure that the use of our services is fully compliant with any laws, regulations or directives applicable in the country you reside.
The ability to access the Website or the Platform does not mean that our services or any related activities are legal under the laws of your country of residence. The services of the Company should not be used by anyone in any jurisdiction in which these services are not authorized or unlawful. All users are required and responsible to check regulations related directly or indirectly to the Services offered by the Company in their respective countries of residence before making registration and executing the transactions on the Platform.
You must be fully aware of the risk that any information sent via unencrypted email may be accessed by unauthorized parties.
We are not responsible for financial losses arising from delayed or failed receipt of messages sent by the company.
You are fully responsible for the security of the credentials of your Account as well as the confidential information that is sent to you by the Company. We are not responsible for any financial losses that might arise from your disclosure of this information to third parties.
Force Majeure Events
The Company is not responsible for any financial losses that might arise from any force majeure events. These events are extreme and irresistible circumstances that are independent of the will and actions of the agreement participants, that cannot be foreseen, prevented, or eliminated, included but not limited to natural disasters, fires, man-made accidents and disasters, emergencies at utility works and on utility lines, DDOS attacks, riots, military actions, terrorist attacks, uprisings, civil unrest, strikes, and the regulatory acts of state- and local government authorities.
No Guarantees of ProfitWe are unable to:
Provide any guarantees of future or potential profit or of avoiding losses when you execute transactions in the Short-Term Bitcoin Settled Contracts offered by the Company.
Provide guarantees of the positive future performance of your Account.
You receive no such guarantees from us or from any of our affiliates or representatives.
Terms and Conditions
By accessing, viewing, using or clicking “I agree” to any of the services made available on this website, owned and operated by Prime Technology Ltd (hereinafter referred to as “Operator”) via address https://primexbt.com (hereinafter referred to as “Website”) and using the services (hereinafter referred to as “Service”) provided by Prime Digital Instruments LLC (hereinafter referred to as “Company”), our mobile applications, or any other related services you acknowledge that you have read, understand, and unconditionally agree to be bound by the Terms of this agreement. This Agreement constitutes the agreement between you (hereinafter referred to as “Client”, “You”) and the Operator (in the part that affects its activities) and the Company (in the part that affects its activities).
Prime Digital Instruments LLC (a company incorporated under the laws of Saint Vincent and the Grenadines, registration number 221LLC2019, with an office on First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines — the Company), according to the terms and conditions of this Client Agreement (hereinafter — the Agreement), provides an individual (hereinafter — the Client) with ability to execute transactions in Short-Term Bitcoin Settled Contracts provided by the Company.
The Client must carefully review the terms of the Agreement. By accepting the terms of this Agreement, the Client agrees to all of the terms and confirms that he/she is an adult who is a legally capable person and is not a resident of a country where transactions in Short-Term Bitcoin Settled Contracts may be deemed illegal.
The Client also represents and warrants to the Company that all of the information provided during Client registration and during the performance of Agreement, is true, accurate, reliable and complete in all respects, and the Client completed the registration form him/herself.
The Client will carry out transactions in Short-Term Bitcoin Settled Contracts personally, on his own behalf and at his own expense and will not use funds borrowed from other Company Clients or from third parties to carry out transactions. The Client will be guided by the principles of integrity, honesty, and rationality; the Client will not take actions coordinated with other Company Clients aimed at damaging the Company; the Client will not use software errors, defects, and vulnerabilities he discovers in the Platform to extract income and will not distribute the information about vulnerabilities to the third parties. The Client will not use unfair and dishonest methods or ways of executing transactions with the Company.
Company reserves the right to alter, amend or modify this Agreement from time to time, in Company’s sole discretion. The Company warns that in some or in all cases it will not notify the Client personally via email about the changes made in this Agreement, therefore it is the responsibility of the client to check the Website from time to time to make sure he/she complies with the current version of the Agreement. The amended Terms will be deemed effective immediately upon posting on Website.
Terms and Definitions
Agreement — means the present Agreement including any Annexes and/or Appendices attached herein as this may, from time to time, be amended or replaced.
Client — means a natural or legal person, accepted by the Company as its Client to whom Services will be provided by the Company under this Agreement.
Clients Account – a special Bitcoin Settled account provided to the Client in which funds are transferred by the Client to make Short-Term Bitcoin Settled Contract transactions and from which the transaction amount is debited when the transaction is executed; and to which income is credited when a transaction is closed and the essential conditions of a transactions are met. The Client has the right to have only one Client account. In case of violation of this rule, the Company has the right to refuse the Client in further service (rendering of services), to terminate this Agreement, and to block further possibility to carry out transactions without explanation and without payment of funds from the Client's account.
Website - is a collection of publicly accessible, interlinked web pages that are related to Short-Term Bitcoin Settled Contracts transactions, news and marketing information.
Deposit - Bitcoin deposited by the Client in their Account.
Execution of Short-Term Bitcoin Settled Contract - transaction in which the essential conditions of a Short-Term Bitcoin Settled Contract are agreed by the Client and the Company. After the essential conditions are agreed, the Short-Term Bitcoin Settled Contract transaction is executed. Short-Term Bitcoin Settled Contract is valid until its Expiration.
Expiration – a transaction in which a Short-Term Bitcoin Settled Contract is liquidated at the Expiration Time agreed by the Parties when the Short-Term Bitcoin Settled Contract is executed.
KYC - means the documents of the Client that include the passport or ID and utility bill of the Client, and any additional document that may be required by the applicable law on AML.
Payout - fixed remuneration credited to the Client's Account if the conditions of the Short-Term Bitcoin Settled Contract are met. The Income amount is determined at the time when the transaction in Short-Term Bitcoin Settled Contract is executed.
Price Direction – an essential condition of a Short-Term Bitcoin Settled Contract that determines the trade payout. A price may change direction Higher or Lower.
Price - the current Short-Term Bitcoin Settled Contracts price, based on an indicative price of an underlying instrument, displayed on the Platform
Price Feed – a succession of prices displayed on the Platform.
Services – services provided by the Company to the Client through the Platform of the Company, including without limitation to transactions in Short-Term Bitcoin Settled Contracts, analytics, news and marketing information services.
Short-Term Bitcoin Settled Contract - a derivative, consisting of two transactions: transaction execution and expiration, as a result of the fulfillment of which the Client either receives income or loses the Transaction Amount. The Company does not, however, provide a Client with the ability to assume obligations greater than the Transaction amount (the Company does not provide leverage to the Client).
Short-Term Bitcoin Settled Contract Transaction amount – The amount of Bitcoin that is being used to execute a transaction. This amount will be used for payout calculation in case of a successful transaction, and it will be deducted from Clients Account in case the transaction is not successful.
Short-Term Bitcoin Settled Contract Expiration Time - the time when the condition for payout of income on the Short-Term Bitcoin Settled Contract Expiration Time is checked. The Company has the right to change Expiration Time for every Short-Term Bitcoin Settled Contract without prior notice.
Short-Term Bitcoin Settled Contract transaction - an agreement between the Client and the Company under which the Client pays the agreed Transaction Amount and the Company agrees to pay a fixed Payout if the Short-Term Bitcoin Settled Contract conditions agreed by the Parties are fulfilled.
Trading Hours - the time when operations in an asset may be done
The Platform - is a software through which the Client can obtain real-time information about prices to carry out transactions in Short-Term Bitcoin Settled Contracts, receive messages from the Company. Entry to the Clients Account within the Platform is protected by a password that the Client sets at registration on the Company's site. All the transactions in Short-Term Bitcoin Settled Contracts and inquiries carried out through the Platform are deemed to be carried out personally by the Client. Clients from countries whose laws prohibit transactions in Short-Term Bitcoin Settled Contracts and the employees, affiliates, agents and other representatives of the Company and their relatives are prohibited from using the Platform.
Transaction order – order to execute a Short-Term Bitcoin Settled Contract on the Platform executed by the Client.
Underlying Instrument – Instrument - The price feed on which the Short-Term Bitcoin Settled Product is based upon
Subject of the Agreement
The subject of the Agreement shall be the provision of Services to the Client by the Company under the Agreement and through the Platform.
The Company shall carry out all transactions as provided in this Agreement on an execution-only basis, neither managing the account nor advising the Client. You should obtain your own financial, legal, taxation and other professional advices. The Company is entitled to execute transactions in Short- Term Bitcoin Settled Contracts requested by the Client as provided in this Agreement even if the transaction is not beneficial for the Client. Unless otherwise specifically agreed, the Company is not obligated to make an attempt to execute the Client’s transaction order using prices more favorable than those offered through the Platform.
While making transactions in Short-Term Bitcoin Settled Contracts you are not entitled to take delivery and are not entitled to ownership of any Underlying Instrument. Short-Term Settled Bitcoin contracts are not traded on a regulated exchange and are not cleared on a central clearinghouse. Exchange and clearinghouse rules and protections do not apply. The Company reserves the right to impose the Expiration Times of Short-Term Bitcoin Settled Contracts at its sole discretion.
Subject to the provisions of this Agreement, the Company agrees to provide the Client with the Services subject to the Client:
Being of age of maturity in accordance with the jurisdiction he/she resides in or is a resident of, is of legal competence and of sound mind.
Not residing in any country where transactions in Short-Term Bitcoin Settled Contracts offered by the Company would be contrary to local laws or regulations. It is the Client’s responsibility to ascertain the terms of and comply with any local laws or regulations to which they are subject.
Not being a USA/territories of the US national and not being a resident of the following jurisdictions: USA/territories of the US, Canada, Australia, Belgium, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea, the Russian Federation and/or any country of the European Economic Area.
The Company will offer Services to the Client at the absolute discretion of the Company subject to the provisions of this Agreement.
The Company shall not be financially liable for any transactions conducted by the Client through the Platform.
Each Client shall be the only authorized user of the Company’s services and of the corresponding Account. The Client is granted an exclusive and non-assignable right to the use of and to access of the Account and it is his/her responsibility to ensure that no other third party, including, without limitation, any members of his/her immediate family, shall gain access to and/or trade through the Account assigned to her/him.
The Client shall be liable for all transaction orders given through the platform and any orders received in this manner by the Company shall be considered to have been given by the Client. So long as any transaction order are submitted through the Account of a Client, the Company shall reasonably assume that such orders are submitted by Client and the Company shall not be under any obligation to investigate further into the matter. The Company shall not be liable to and/or does not maintain any legal relations with, any third party other than the Client.
When executing a transaction in Short-Term Bitcoin Settled Contracts, the Client specifies the Underlying Instrument, the amount of the transaction, the direction of chart movement, and the time of Expiration of the contract. Contract expires upon reaching the selected Expiration Time. If at the moment of Expiration of the contract, the current price of the selected Underlying Instrument is higher than its price at the moment of the opening of the transaction, the transaction is considered profitable if the selected direction of chart movement is "UP". If at the moment of Expiration of the contract, the current price of the selected Underlying Instrument is lower than its price at the moment of the execution of the transaction, the transaction is considered profitable if the selected direction of chart movement is "DOWN". If at the moment of Expiration of the contract, the current price of the selected Underlying Instrument is the same as the price at the moment of the execution of the transaction, the transaction is considered unprofitable. The payout on the transaction is fixed and depends on the selected Amount of the transaction, the Underlying Instrument, and the execution time of the transaction. The payout on the transaction is defined as the percentage yield multiplied by the amount of the transaction.
The Client has the right to register only 1 (One) Account on the Website. If the Company discovers several Accounts belonging to the same Client or group of persons, if such persons have the opportunity to log in from the same IP address and/or access the Website from the same device, or credited using the same Bitcoin wallet, or with authorization from the same IP address or upon the detection of other signs of the possession of multiple Accounts, the transaction and their financial outcomes on all such Accounts may be rescinded, and the Accounts may be blocked. In this case, the funds held in those Accounts cannot be considered a financial liability of the Company to the Client.
The processing of a Client’s transaction takes place in the following order:
The Client draws up a Transaction Order, which is then tested for correctness on the Platform.
From the Platform, the Client’s Transaction Order is transmitted to the Server, where it is retested.
After being retested, the Transaction Order is processed on the Server, and the result of the processing is transmitted to the Platform.
The processing time of a Client's transaction Order depends on the quality of communication between the Trading Platform and the Server, as well as on the market conditions. Under normal market conditions, the processing time of a Client’s transaction Order is usually 0-4 seconds. Under market conditions other than normal, the processing time of a Client’s transaction order might be extended.
A Client’s Transaction Order will be rejected for the following reasons:
The Client submits the Transaction Order before the first price of underlying instrument is received on the Platform at the opening of the market;
There are not enough available funds in the Client’s Account to open a new transaction.
The Transaction amount of a client is lower than a Minimum Transaction amount set by the company
The Transaction amount of a client is higher than a Maximum Transaction amount set by the company
The client has reached the executed Transaction limit set by the Company
In case a client has insufficient funds on his account
In case of interruption in a price feed
In case the transactions in a particular underlying asset had been blocked
In case a transaction timeframe chosen had been blocked
In case of scheduled or non scheduled maintenance
A Client’s transaction Order may also be rejected by the Server under market conditions other than normal.
A Client’s transaction Order is considered executed, after a corresponding record appears in the Platform. Each transaction on the Server is assigned a unique identification number.
The Expiration of the contract occurs at the current price of the Underlying Instrument that is on the Server at the time of Expiration.
The Company has the right to limit the maximum number of transactions made by a Client in one minute, hour, or calendar day.
The Company has the right to change the payout, the size of the minimum and maximum amount of a transaction, as well as the Expirations, for one, several, or all of the contracts.
The Company has the right to change the payout, the size of the minimum and maximum amount of a transaction, as well as the Expirations, for one, several, or all of the contracts.
Malfunctions and/or failures in the operation of computer equipment and software of the Company, unstable Internet connections, interruptions in the transmission of information streams, interruptions in power supply, malfunctions in the operation of exchanges, hacker attacks, as well as any illegal actions in regard to equipment and/or the Company Server, force majeure circumstances, and the suspension of trading on financial markets, which affect the underlying instruments available on the Platform are direct grounds for the invalidation of a transaction executed under those circumstances.
The Client acknowledges that the only reliable source of price information is the main server for customer requests. The prices on the Platform cannot serve as a reliable source of information about the real price flow, as in the case of an unstable connection between the Platform and the server part of the price flow that may not reach the Platform. The graphs displayed on the Platform are indicative. The Company does not guarantee that the transaction will be made at the same prices specified on the charts on the Platform at the time of submission of the transaction orders.
Rights, Obligations and Guarantees of the Parties
The Client shall be entitled to:
Submit with the Company any transaction order requesting the execution of a transaction on the Platform in accordance with and subject to the terms and conditions of this Agreement;
Request withdrawal of any amounts in Bitcoin outstanding on a client’s account not exceeding the daily withdrawal limits, provided that the Company has no claims against the Client and/or the Client does not have any outstanding debts to the Company;
In the event that the Client has any alleged complaint against the Company and/or there is any dispute between the Client and the Company, then the Client can submit his/her complaint, to include all relevant particulars and details, to the Company at [email protected] The Company shall acknowledge receipt of any such complaint, initiate an internal investigation of the matter and shall respond to the Client within a reasonable amount of time but not later than 1 month from the date of acknowledging receipt of the complaint.
Unilaterally terminate the Agreement provided that there is no debt outstanding from the Client toward the Company.
Acknowledges that the Account shall be activated upon the deposit of Bitcoin into the Account.
Warrants that he/she shall at all times be compliant with and honor all of the terms and conditions of this Agreement
Warrants that he/she shall ensure that at all times the username and password will only be used by him/her and will not be disclosed to any other person;
Shall be liable for all transaction orders submitted through the Platform and any orders received in this manner by the Company shall be considered to have been given by the Client;
Confirms that any strategies and/or decisions and/or any activities performed by him/her through his/her Account and on the Platform, are made having in mind/considered/being aware of all risks involved and solely on the basis of his/her knowledge and upon his/her sole discretion.
Accepts any risk, including without limitation to any risk of financial loss, that arises from unauthorized access to and operation of his/her Account/Platform by third and/or unauthorized parties.
Irrevocably accept full responsibility for his/her actions according to current tax legislation valid at the place of residence/living of the Client regarding any performed transactions/Operations, included but not limited to revenue/income tax.
Irrevocably accepts that he/she is solely responsible for any technical deficiencies that may occur in Client’s connection to the Platform, in Client's equipment used for receiving the services (included, but not limited to, personal computer, laptop, mobile phone and etc.), and confirms that he/she shall have no claims whatsoever against the Company for any direct and/or indirect damages the Client may suffer due to such deficiencies.
Acknowledges that the Company has the right to refuse to execute any transaction order requested by the Client and/or any other action required, under this Agreement, for as long as it maintains any claims against the Client, whether these are due, future or contingent and regardless of whether these arise from the same transaction from which such obligations arise.
Acknowledges and accepts that this Agreement and/or to any materials made available on the Website may be amended unilaterally, from time to time, by the Company, and that he/she shall be responsible to check on the Website frequently in order to ensure that he/she has made himself/herself aware of any changes effected in such manner. Upon the submission of a request by the Client of any transaction/Operation, any changes effected to this Agreement and/or to any materials made available on the Website shall be deemed as acknowledged and accepted by the Client.
If the Company deems that the amendments are material, such amendments will take effect on the date specified in the notice to the Client and if no date is specified, then on the date of receipt of the notice.
The Client understands and agrees that her/his consent is not necessary for any change to be effective. Whether the Client does not respond and/or disagrees with the content of the amendments implemented in the Company’s Terms and Conditions, this will be considered as an acceptance by the Client of the contents of the amendment and of the amended Terms and Conditions. Further, any order of the Client to execute a transaction(s) following the receipt of the notice and/or login into his Account, shall be deemed as acceptance by the Client of the contents of the amendment and of the Agreement as amended.
The Client understands that it is his/her sole responsibility to remain up-to-date with all changes. The applicable version shall be the latest version uploaded on the Company’s Website and in the event of a dispute the latest version shall prevail.
In case the Client does not agree with the amendments, the Client shall be entitled to terminate this Agreement by sending an email to [email protected] with the request to terminate the Agreement and close the Account.
The Client hereby warrants and represents to the Company that he/she:
Is not a USA/territories of the US national and is not residing in any country where distribution or provision of financial products or services offered by the Company would be contrary to local law or regulations.
Is responsible to ascertain the terms of and shall comply with, any and all applicable local laws and/or regulations to which he/she is subject to.
Has the legal capacity/competence, is of sound mind and has reached the age of maturity in the country which he is resident or citizen;
Is not under any legal disability with respect to, and is not subject to any laws or regulations which prevents his/her performance of this Agreement or any contract or transaction contemplated by this Agreement.
The Client acts as principal and not as an authorized representative / attorney or trustee of any third party.
The Bitcoin and other assets delivered for any purpose by the Client to the Company are not connected directly or indirectly to any illegal and/or criminal activities and/or terrorism.
The Bitcoin and other assets delivered for any purpose by the Client to the Company, shall belong exclusively to the Client and at all times be free from any charge, lien, pledge or encumbrance, unless the Client has otherwise disclosed to the Company in writing.
The Client certifies that he has provided accurate, complete and true information about himself upon registration and will maintain the accuracy of the provided information by promptly updating any registration information that may have changed. Failure to do so may result in Account closure, Account limitations and/or voiding of any transactions.
The Client can be asked to provide KYC documents to the Company at sole discretion. The failure to provide the requested documents can result in account closure and freezing of funds.
The Company shall be entitled to:
Modify the size of Company’s financial obligations to the Client with changes of the appropriate entry of the transaction operations register in case of violation of one or several provisions of the Agreement herein by the Client.
The Company reserves the right to change, add or set as default the transaction Payout, the minimum and/or the maximum transaction Amount, the possible expiration periods for one, several or all of the assets.
Contact the Client with any question concerning the Agreement herein, including, in order to clarify the Client's intentions regarding his/her actions through the Account.
Unilaterally modify and/or amend and/or restate the terms and conditions of this Agreement and/or the material made available on the Website without prior notice to the Client. The Company shall notify the Client of any such changes through the Website and/or by the delivery of an email to the Client.
Engage third parties with a view to cooperate in order to facilitate and/or enhance any and/or the provision of, the Services under this Agreement.
With regard to any matters and/or obligations that are not covered by this Agreement, the Company shall act accordingly upon its own discretion but at all times in accordance with business custom and existing practices within the line of the Services.
Obligations of the Company:
Subject to the provisions of this Agreement and the Company being reasonably satisfied that the Client is compliant with the terms and conditions of this Agreement and/or has not in any way breached any terms of this Agreement, the Company shall offer the Services through the Website;
To fulfill provisions of the Agreement herein.
Legal Restrictions and List of Countries in which the Company Does Not Do Business
The Client warrants its understanding that laws regarding Short-Term Bitcoin Settled Contracts vary throughout the world and it is client’s obligation alone to ensure compliance with any law, regulation or directive relevant to client country of domicile. Ability to access the platform does not necessarily mean that the company services and client activities through it are legal under the laws, regulations or directives relevant to client country of domicile. Client declares that cryptocurrency deposited in the account with the company is not laundered or a derivative of drug trafficking, abduction, terrorism or any other criminal or illegal activity. The prevailing language in case of interpretation will be the English language.
The Company does not do business in the following countries and does not provide services to persons associated with those states: USA/territories of the US, Canada, Australia, Belgium, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea, the Russian Federation and/or any country of the European Economic Area.
If it is found that the Company is providing services to persons associated with the countries in which the Company does not do business, the Company may close Client’s account.
Limitation of Liability
The Company is committed to ensure continuity of the Services on the site. However, The Company assumes no responsibility for any error, omission, deletion, interruption, delay, defect, in operation or transmission, communications line failure, theft or destruction or unauthorized access or alteration of the site or Services. The Company declines the responsibility for any problems or technical malfunction of any telephone networks or lines, computer online systems, servers or providers, hardware or software, or any technical failure because of technical problems or traffic congestion on the Internet, the site or any Service. To the extent permitted by applicable law, in no event shall we be liable for any loss or damage arising from use of the site or Services for any content posted on or through the site or Services, or the conduct of all users of the site or Services, whether online or offline.
THERE IS NO EVENT THE COMPANY OR ANY OF ITS DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS SHALL BE LIABLE FOR ANY DAMAGES WHATSOEVER TO YOU, INCLUDING, WITHOUT LIMITATION, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO THE USE OF THE SITE OR THE SERVICES, INCLUDING WITHOUT LIMITATION THE QUALITY OF THE USEFULNESS OF INFORMATION PROVIDED THROUGH OR AS PART OF THE SITE OR ANY INVESTMENT DECISION MADE ON THE BASIS OF THE INFORMATION, WHETHER THE DAMAGES WERE PREDICTABLE OR NOT AND WHETHER OR NOT THE COMPANY HAS BEEN ACQUAINTED WITH THE POSSIBILITY OF SUCH DAMAGES. LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND IN NO EVENT SHALL THE COMPANY CUMULATIVE LIABILITY TO YOU EXCEED THE AMOUNT OF MONEY YOU TRANSFERRED OR DEPOSITED IN YOUR ACCOUNT ON THE SITE IN CONNECTION WITH THE TRANSACTION GIVING RISE TO SUCH LIABILITY.
It is the Client's responsibility to verify that all transactions and Service received are not contradictory to any applicable law and to undertake any other legal duty emanating from the use of Website at the Client’s sole option, discretion and risk, and the Client is solely responsible for ascertaining whether it is legal in the Client's jurisdiction and/or place of residence. The Client holds sole liability for all transactions in his trading account, including all cards transactions or other means of deposit and withdrawal transactions (as stated below).
The Client is responsible for securing his/her username and password for his account. The Client holds sole responsibility for any damage caused due to any act or omission of the Client causing inappropriate or irregular use of the Client account.
It is clearly stated and agreed by the Client that the Client bears sole responsibility for any decision made or to be made by the Client relying on the content of the Website and no claim or suit of any kind will arise to that effect against the Company and its directors, employees, functionaries or agents. The Company will hold no responsibility for loss of profits related to the Website, transactions carried out by the Client, services or any other damages, including special damages or indirect damages or circumstantial damages caused, except in the event of malicious acts made by the Company.
Without limitation of the aforesaid and only in the event of definitive judgment by court or other authorized legal institution resolving that the Company holds liability towards the Client or third party, the Company's liability, in any event, will be limited to the amount of money deposited transferred by the Client to the account in respect of the transaction which caused the liability of the Company.
The Company shall not bear responsibility to any harm or any form which shall be caused to a Client in the event that such harm is the result of a force majeure and any outside event which is not in the control of the Company. The Company shall not bear any responsibility for any delay in communications or failure in the Internet, including, without limitation, computer crashes or any other technical failure, whether caused by the telephone companies and various telecommunication lines, the ISP computers, the Company’s computers or the Customer’s Computers.
If the Company has sufficient grounds, it may claim force majeure events. Force majeure events include (without limitation):
any action, event or occurrence (including, but not limited to, any strike, riots or civil strife, terrorist acts, wars, natural disasters, accidents, fires, floods, storms, power outages, interruptions in the operation of communication equipment, software or electronic equipment, incorrect operation of any kind of equipment or software, the instability in the quote stream, interruptions in the operation of or the instability of liquidity providers, etc.), which, in the Company's reasonable opinion, led to the destabilization of the market or the markets for one or more assets (instruments);
the suspension of work, the liquidation or closure of any underlying instrument or the absence of any event on which the Company bases prices, or the imposition of restrictions or special or non-standard terms of trade in any underlying instrument, or in respect of any such event.
If the Company has established that a force majeure event occurred, the Company has the right (without prejudice to the Company's other rights) to take any of the following steps without prior written notification and at any time:
cancel any or all transactions the result of which is directly or indirectly caused by force majeure;
suspend or amend the application of one or all provisions of the Agreement as long as the force majeure event makes it impossible for the Company to comply with these provisions;
take or, on the contrary, not take any action in respect of the Company, the Client or other clients, if the Company reasonably deems it appropriate under the circumstances.
The Company assumes no liability for breach (improper discharge) of obligations if force majeure events interfered with that discharge.
All the terms and conditions of this Agreement as well as any matters pertaining to this agreement, including without limitation to matters of interpretation or disputes, shall be governed by the laws of St. Vincent and the Grenadines.
The Company and the Clients irrevocably submit to the jurisdiction of the courts St. Vincent and the Grenadines. The Company shall be entitled to use the interpreter's services during the court trial in case of dealing with disputable situations according to the legislation of the St. Vincent and the Grenadines.
Governing Law9.1. All the terms and conditions of this Agreement as well as any matters pertaining to this agreement, including without limitation to matters of interpretation or disputes, shall be governed by the laws of St. Vincent and the Grenadines.9.2. The Company and the Clients irrevocably submit to the jurisdiction of the courts St. Vincent and the Grenadines. The Company shall be entitled to use the interpreter's services during the court trial in case of dealing with disputable situations according to the legislation of the St. Vincent and the Grenadines.10. Intellectual PropertyThe Company has exclusive intellectual property rights on all content, trademarks, services marks, trade names, logos and icons that are the property of The Company, its affiliates and agents, and are protected by copyright laws and international treaties and provisions. All Clients agree not to delete any copyright notices or other indications of protected intellectual property rights from materials that the client receives from 3rd persons or downloads and prints from the site of the company. Clients will not obtain any intellectual property rights in, or any right or license to use such materials or the site of the company, other than as set out in this Agreement. Images displayed on the site of the company are either the property of The Company or used with permission. The Client agrees not to upload, post, reproduce or distribute any information, software or other material protected by copyright or any other intellectual property rights (as well as rights of publicity and privacy) without first obtaining the permission of the owner of such rights and the prior written consent of the company.
The company is not a tax agent and thus shall not provide clients' financial information to any third parties. This information will not be disclosed unless officially requested by government authorities.
Term and Termination of the Agreement
This Agreement comes into force upon its conclusion (Client registration on the Website). The Agreement is terminated on the initiative of the Company as of the date specified in the notice sent by the Company to the Client.
The Agreement is terminated at the initiative of the Client in five (5) business days after the Company receives the Client’s written notice containing the statement of termination of the Agreement, provided the Client has no unfulfilled obligations hereunder. The Client must send the Termination Notification to the email address [email protected]
This Agreement is considered terminated when the mutual obligations of the Client and of the Company with respect to previously made transactions are fulfilled and all debts of each Party are repaid.
Prime Digital Instruments LLC and its affiliates (hereinafter referred to as the “Company”) takes all necessary measures to prohibit and actively pursue the prevention of money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities. Company requires its officers, employees and affiliates to adhere to these standards in preventing the use of Company’s Services for money laundering purposes.
For the purposes of this policy, money laundering is generally defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the unlawful proceeds appear to have been derived from legitimate origins or constitute legitimate assets.
To ensure that AML policy is carried out, management of Company has established and maintains an ongoing program for the purpose of assuring compliance with the relevant laws and regulations and the prevention of money laundering. This program seeks to coordinate the specific regulatory requirements throughout the group within a consolidated framework in order to effectively manage the group’s risk of exposure to money laundering and terrorist financing across all business units, functions, and legal entities.
Client is obliged:
to respect any requirements of law, including international, directed on fight against illegal trade, financial frauds, washing and legalization of the money received in the illegal way;
to exclude direct or indirect complicity of illegal financial activities and to any other illegal Operations with use of the Site.
Client guarantees a legal origin, legal ownership and availability at Client of the actual right to use of the Bitcoin and all other assets transferred by Client to Client’s Account.
The Company reserves the right to conduct “Know your customer” (KYC) and/or “Anti-money laundering/Counter-terrorist Financing” (AML/CTF) checks and procedures on Clients in accordance with applicable laws and regulations of Saint Vincent and the Grenadines to prevent money laundering and/or terrorism financing and any transaction or activity that facilitates money laundering and/or terrorism financing.
The Company may, at its sole discretion, request identity verification (KYC) from the Client to comply with applicable AML/CTF laws and regulations and to protect the Company from potential association or involvement with money laundering or other criminal activities.
The Client undertakes to provide all documents and/or information requested by the Company in respect of conducting KYC or AML/CTF checks/procedures. In the event that the Client fails or refuses to provide the specific and necessary documents and/or information requested by the Company in due time, the Company reserves the right to postpone processing Client’s requests for deposit, transaction execution and/ or withdrawal and to stop providing services to that Client without any obligation from the Company to indemnify the Client until the Client’s KYC documents are received, reviewed and verified.
In case of suspicious or fraudulent Bitcoin or any other asset Deposits Company reserves the right to stop provision of Services and to block Client’s Account, and also to cancel results of any Operations performed by Client and to investigate Operations of doubtful nature owing to what to suspend in such Operations before clarification of the nature of emergence of Bitcoin or any other asset and the end of investigation.
During the investigation Company reserves the right to request from Client the copy of the identity certificate (passport) and other documents confirming legal possession and a legal origin of cryptocurrency.
Client is forbidden to receive and use Services and/or the software for any illegal or fraudulent action, or for any illegal or fraudulent Operations (including money laundering) according to the legislation of the country of jurisdiction of Client or Company.
Refusal of Company of carrying out suspicious Operations isn’t the basis for any Company’s civil responsibility before Client or other third parties for non-execution of any liabilities in relation to Client.