This agreement (hereinafter referred to as the Agreement) describes the conditions on the basis of which the services of the “Xbit.Money” service are provided. Before using the service, the User is obliged to read and accept all the terms of this Agreement. In the opposite case, the User can not use the service.
The agreement is placed in the public access on the site of the Xbit.Money service and can be changed unilaterally by the Service Administrator without additional notification of the User.
The parties to this agreement are “Xbit.Money”, hereinafter referred to as “Service” and any individual who uses the services of the Service, hereinafter referred to as the “User”.
1. Terms and definitions
Xbit.Money is an Internet site, a technical platform for translating electronic currencies of various payment systems between Users (p2p platform), and offering its services through a special software interface for all Users.
Service – the system of providing Internet services for the exchange, sale and purchase of electronic and fiat currencies from the User to the User (p2p). The provision of the Service is carried out under the control of the administrator. Administrator contact: [email protected]
A user is any individual who accepts this Agreement and uses the services of the “Xbit.Money” service.
Electronic currency, digital asset – the obligation between the developer of a given currency / digital asset before its user, having a certain value and expressed digitally or another asset in digital form.
The payment system is a software product developed by a third party and represents a mechanism for implementing the accounting of obligations, as well as arranging settlements between users of the payment system.
Services of the service – technical assistance in conducting p2p transactions and the selection of counter orders between individuals for the sale and / or exchange of electronic currencies / digital assets, as well as other services, information about which is posted on the Service window.
Payment – transfer of electronic currency, digital assets or fiat funds from the User to the User using the technical mechanisms of the Service, as well as in the opposite direction.
Application – an expression of the intention of the User to use the Service by filling in an electronic form through the Service’s website, on the terms described in the Agreement and specified in the parameters of this Application.
Partner – a person providing services to the Service to attract Users, the terms of which are described in this Agreement.
Verification of the card is the verification of the belonging of the card (or account) to its owner. The conditions of the membership check are set by the Service, made at a time for each new client card (account).
The exchange rate is the ratio of the two currencies / digital assets / funds when exchanging them.
2. General Provisions
2.1. This agreement regulates the relationship between the User and the Service regarding the services provided by the Service to the User and cancels all previous agreements between the Service and the User in this subject.
2.2. This agreement does not cancel the current legislation of the countries of registration and the location of the Service and the User, as well as the contractual relations between the User and the Payment system (systems). In the event that the User is unable to use the services of the Service under the terms of the current legislation or other arrangements, the use of these services by the User is prohibited by these rules and will not be recognized.
2.3. The service guarantees and ensures the confidentiality of information about the User and his operations. The Service may provide this information only upon the request of authorized state bodies, officials or representatives of Payment Systems, provided there are legitimate reasons for this.
2.4. The User uses the Service and pays for his services in accordance with the terms of this Agreement.
3. Subject of the agreement
3.1. The subject of this agreement is the provision of services for attracting other Users and facilitating the sale and exchange of electronic currencies, digital assets and fiat funds through p2p-payments between individuals, as well as other services described in the Service window. Service is not a party to transactions between Users. All transactions are conducted between the users of the Service under their personal responsibility (p2p transactions).
3.2. The Service offers services to all Users and does not verify the legitimacy and legality of the User’s possession of electronic currencies, digital assets and / or financial resources and does not supervise the User’s operations in any of the Payment Systems.
3.3. Exclusively, Payment systems and / or financial institutions are responsible for the funds entrusted to them by the User. The Service is not a party to the agreement between the Payment system and / or the financial institution and the User and is in no way responsible for incorrect or improper use of the Payment System’s capabilities by the User, as well as for the abuse of the functionality of the Payment System by the User. Mutual rights and obligations of the User and the Payment system and / or financial institution are regulated by the relevant agreements between them, without the participation of the Service.
3.4. Any completed transaction for the sale or exchange of electronic currencies, digital assets, or any other operation offered by the Service to the User is deemed impossible to cancel or correct. The operation can not be canceled or corrected by the User after it is completed – the User receives from the other party the transaction due to him, according to the conditions of the application.
3.5. The Service has the right to suspend or cancel the executed application if information about the improper possession of the User by electronic currencies, digital assets or financial means and / or other information making it impossible for the Service to provide services to the User be received.
3.6. The Service has the right to suspend or cancel the executed application if the User violates the terms of this agreement, and also refuse to continue to service the User without explaining the reason for this decision.
3.7. The service has the right to cancel the current operation and return the electronic currencies, digital assets and / or fiat funds contributed by the User without explaining the reasons.
3.8. The User undertakes to:
– exclude any possible complicity in illegal trade and any other illegal transactions using the services of the Service;
– exclude any possible complicity in the conduct of financial fraud, do not use the Service to create and distribute financial pyramids, as well as to commit other acts that are contrary to the laws and regulations;
– exclude in the practical activity with the use of the Service any actions, the implementation of which may be related to the laundering and legalization of money received illegally;
3.9. The Service undertakes to take all possible and accessible actions to prevent attempts of illegal trade, financial fraud and money laundering using the services of the Service. The specified actions include, in particular:
– to provide all possible assistance to law enforcement agencies in the search for and capture of fraudsters engaged in illegal activities for money laundering.
– improve the Service to prevent the use of the Service, either directly or indirectly, in activities that run counter to legislation aimed at combating illegal trade, financial fraud and money laundering;
– Follow the policy of AML and KYC.
4. Services of the Service
4.1. Ordering the services of the Service and obtaining information about the progress of the transaction between Users are made exclusively through contacts with the Service Administrator using the Chat online support or Email.
4.2. The service offers its services without a break for lunch and according to the Schedule of Service work provided by the Rules.
4.3. The Service is ordered by the User by sending the Application through the Internet site of the Service.
4.4. Management of the process of purchase and sale or exchange, as well as obtaining information about the progress of the service by the User, is carried out using the appropriate user interface located on the Internet site of the Service.
4.5. Using the services of the Service, the User confirms that he legally owns and manages financial fiat funds, electronic currency, digital assets participating in the relevant Payment.
4.5. Service for organizing p2p Exchange between Users of Electronic Currency, digital assets or fiat funds.
4.5.1. Through the registration of the Application, the User instructs, and the Service undertakes to find a Counter Application (s) from other Users that comply with the terms of the User’s Application.
4.5.2. The User undertakes to transfer (transfer) the electronic or fiat currency, digital assets in the amount specified in the Application, and the Service, to control the transfer (transfer) to the User from another User, the electronic or fiat currency corresponding to the Application, the digital asset calculated at the Rate and in accordance with the tariffs of the Service.
4.5.3. The amount of the Service fee is reflected in the Application and is confirmed by the User on one of the pages of the user interface when completing the Application.
4.5.4. The Service shall ensure that the Service controls the transfer (transfer) of electronic or fiat currency, digital assets to the User when the electronic or fiat currency in the relevant Payment System is debited from the account of the other User (s) with counter orders, which is recorded in the transaction history corresponding to the Payment System.
5. Additional conditions for the provision of services
5.1. In the event that the electronic or fiat currency is not received from the User, digital assets under the completed Application within 7 minutes from the moment of fulfillment of the Application, the Service has the right to cancel such Application. Electronic currency, digital assets or fi nancial funds received after the above-mentioned period are subject to recalculation at the updated (current at such a time) Rate or return to the payer’s requisites. When making a refund, all commission expenses for the transfer are made from the received funds at the expense of the User.
5.2. In the event of receipt of an electronic or fiat currency or digital assets from the User in an amount different from that specified in the Application, the Service Administrator considers this as an instruction by the User to make a recalculation on the application in accordance with the actually received amount of electronic, fiat currency or digital assets. In the event that the amount of electronic assets or funds received differs from the declared by the User by more than 10%, the Service can unilaterally cancel the Application and return the received funds to the payer’s requisites. When making a refund, all commission expenses for transferring funds are made from the funds received at the expense of the User.
5.3. In the event of non-fulfillment of the control by the Service, the conditions for sending electronic or fi nancial assets, digital assets under the Application for requisites specified by the User, within the time allotted by the rules, the User has the right to demand the return of the electronic asset or monetary funds in full, except for the cases specified in this Agreement. The demand for the return of electronic or fiat funds, digital assets can be executed by the Service only if, at the time of receipt of such a request, the cash equivalent was not sent to the requisites specified by the User. The increase in the term for the transfer of electronic or fiat funds may be caused by the processing conditions for the applications of individual Payment Systems, in this case the Service does not bear responsibility and no refund is made.
5.4. The rate of electronic or fiat currency is fixed by the Service no more than 7 (seven) minutes from the moment of the creation of the Application. In the event that the User made a payment after 7 (seven) minutes, the Service automatically updates the rate. If the User does not agree to carry out the operation for the updated course, the Service shall return electronic or fiat funds. All commission expenses for the transfer are made from the received funds at the expense of the User.
5.5. When exchanging or selling crypto currency, the User undertakes to indicate the appropriate commission recommendation for the network. The Service can not guarantee the execution of a purchase or sale transaction or an exchange within the terms established by this Agreement, if the conditions for the commission are not met by the User.
5.6. Special conditions of some Payment Systems:
• Bank payments are processed by the Service up to 2 hours, if necessary, the Service may require Verification of the client’s card (account);
• If the Application using Crypto-Currency (Bitcoin, Ethereum and others) is completed, no refunds are possible;
• If the amount of the crypto currency sent by the User (Bitcoin, Ethereum and others) sent by the User is less than 0.0010 in equivalent, the money is not returned back;
• Yandex Money: A delay of 28 hours is set for the first payment from the Unregistered / Unverified User;
• Bank transfers in the direction of Visa / Mastercard UAH and Visa / Mastercard RUB are in most cases credited instantly, but in some cases can take up to 5 banking days.
6. Cost of services. Exchange rates.
6.1. Tariffs and rates are determined by the Service Administrator and published on the Service’s website. The Service Administrator has the right to change the Service tariffs without additional notice to the User.
6.2. In addition to the established prices, the User also reimburses all additional costs for mailings, etc., which arose in the course of business relations with the Service.
7.1. Service is not a tax agent for the User and will not notify the user of its tax costs. The User undertakes to independently pay all taxes required under the tax laws of his place of residence.
7.2. In the event that the Service is required by law to pay taxes for the User or cover debts arising from the User’s refusal to pay taxes, the User agrees to reimburse the Service for all such payments.
8. Guarantees and responsibility of the parties
8.1. The service provides its services on an “as is” basis as they are described on the pages of the Service website and does not offer any additional guarantees.
8.2. The Service guarantees the control over the fulfillment of obligations to the User only within the amounts entrusted to the Service by the User for the performance of a transaction of sale or exchange.
8.3. Service will do its best, but does not guarantee that its services will be available around the clock and daily. The Service shall not be liable for losses, unearned profits and other costs incurred by the User resulting from the inability to gain access to the Site and the services of the Service.
8.4. The Service shall not be liable for losses, unearned profits and other costs of the User resulting from delays, mistakes or failures in conducting bank payments or electronic transfers.
8.5. The Service shall not be liable for losses, unearned profits and other costs of the User, resulting from erroneous expectations of the User regarding the Service’s tariff rates, exchange rates, profitability of transactions and other subjective factors.
8.6. The Service is not responsible and does not compensate for losses in the event of an imperfect exchange due to incorrectly specified details when processing the application by the user and does not undertake to carry out actions to return such funds.
8.7. The User guarantees compensation of losses of the Service in cases of claims or claims, directly or indirectly connected with the use of the Service by the User
8.8. The user guarantees that he is the owner or has legitimate reasons for disposition of the amounts used in his transactions.
8.9. The User undertakes not to falsify the communication flows associated with the operation of the Service.
8.10. The User acknowledges that the contents of the Service’s website fall under the protection of the legislation on the protection of property rights, intellectual property and copyrights. Unauthorized use of this content is illegal.
8.11. The user guarantees its non-participation in any fraudulent schemes and has no claims to the service in the event of payment.
8.12. The User undertakes not to abuse the actions of the bonus and partner programs of the Service and the services friendly to him, nor create systematically intentionally unpaid applications.
8.13. The user is obliged to indicate in the note to the payment the prescribed wording. In the absence of such a comment, the service reserves the right to initiate a refund procedure. In case of suspicion of fraudulent origin of payment, a refund can be made through the support service of the payment system and take up to 10 days.
8.14. The service prohibits exchanges for accounts of 3 persons. Service is not responsible for the actions of these individuals after receiving funds from the exchange service. Conduct transactions only with wallets and accounts, to which you have full access.
9. Force Majeure
9.1. Neither the User nor the Service will be liable to each other for delays or failure to fulfill their obligations arising from the occurrence of force majeure circumstances, including natural disasters, fire, flood, terrorist acts, power shifts, civil unrest, and the non-operation of Payment Systems, Systems power supply, communication networks and Internet service providers.
10. Final Provisions
10.1. The Parties have concluded this Agreement in electronic form and recognize it as equivalent in legal force to a contract concluded in writing.
10.2. The Service has the right to send the User to the e-mail specified by him the information on the status of the exchange process, as well as other information, including advertising information.
10.3. All disputes and disagreements that have arisen or may arise from this Agreement shall be resolved through negotiations on the basis of a written application of the User. Any Party has the right to apply for resolution of the dispute to the court at the location of the Service.
Information on the site, including graphic images, text information, program codes, etc. is the property of the site xbit.money and is protected by copyright laws. Every case of unauthorized copying (full or partial) can be prosecuted under the current legislation.