TERMS OF SERVICE

TERMS OF SERVICE

of Simple Coin Company Ltd.

ID: 01516558, U Pergamenky 1522/2, 170 00 Prague 7, Holešovice, registered in the commercial register kept by the municipal court in Prague, section C, insert 207798

governing the sale and purchase of digital currencies via the website

https://exchange.simplecoin.eu

I Definitions

  1. "Terms of Service" are to be understood as referring to these Terms of Service, which govern the rights and obligations of the Operator and the Client within the context of Digital currency trading.
  2. "Operator" is to be understood as referring to Simple Coin s.r.o., ID no.: 01516558, registered office at U Pergamenky 1522/2, Holešovice, 170 00 Praha 7.
  3. "Client" is to be understood as referring to either a non-legal entity who has reached the age of 18 and is fully legally competent, or a legal entity, that is a visitor, customer and / or recipient of any service provided by the Operator via the Web Page located at https: //exchange.simplecoin .eu.
  4. "Digital Currency" is to be understood as referring to an electronically stored unit, regardless of whether or not it has an issuer, and which is not considered a monetary instrument under the Payment Systems Act, but is accepted as payment for goods or services by persons other than the issuer; for the purposes of Terms of Service, mainly Bitcoin, Litecoin and Etereum are considered to be Digital Currency.
  5. "Contracting Parties" refer to the Operator and the client, "Contracting Party" refers exclusively either to the Operator, or the Client.
  6. "Contract" is to be understood as referring to a contract of purchase or sale of Digital Currency according to up-to-date exchange rates of the Operator made by the the Operator and the Client through the ​https://exchange.simplecoin.eu​ Web Page, in which one of the Contracting Parties commits to deliver to the other Contracting Party Digital Currency, which constitutes the article being purchased or sold, and the other Contracting Party commits to accept the Digital Currency and compensate the first Contracting Party with the purchase price.
  7. "Web Page(s)" is to be understood as referring to​ ​the website​ owned by the​ ​ Operator located on the​ ​ https://exchange.simplecoin.eu domain, which features authorial elements and a database with regard to which the Operator exercises the entirety of property rights; content of the Web Pages may not be stored, edited, copied, shared nor may any other property rights be exercised with regard to it without the Operator's prior and written consent permitting such actions..
  8. "Trade" is to be understood as referring to purchase and / or sale of Digital Currency performed based on a Contract.
  9. "Civil Code" is to be understood as referring to Act No. 89/2012 Coll., Civil Code, as amended.
  10. AMLZ " is to be understood as referring to the Act no. 253/2008​ Coll., as amended, which deals with measures against the legalization of proceeds stemming from criminal activities and against terrorism funding.
  11. GDPR " is to be understood as referring to European Parliament and (EU) Council regulation 2016/679 from April 27th 2016 that encompasses protection of persons with regard to the processsing of personal data and the unrestricted transfer of personal data as well as the annulment of the 95/46/ES directive (general regulation of personal data protection) that takes effect on May 25th 2018
  12. ZOOÚ " is to be understood as referring to Act no. 101/2000 Coll., as amended, related to personal data protection and amendments to certain laws..
  13. "Office" is to be understood as referring the Financial Analytical Office headquartered at Washingtonova 1621/11, 11000 Prague 1.

II General Provisions

  1. Terms of service define the mutual rights and obligations of the contracting parties arising under or in connection with the provisions of the Contract. in accordance with the provisions of section 1751 paragraph 1 of the Civil Code.
  2. These Terms of Service are an integral part of the Contract and are binding for the Contracting Parties for the entire duration of the contractual relation until the complete settlement of all liabilities and claims arising between the Operator and the Client.
  3. Terms of Service generally apply also to cases where the client and / or the recipient of services provided by the Operator is a non-legal entity acting in the course of their business or a legal entity. In such cases, however, the application of certain provisions of these Terms of Service is ruled out due to legal or contextual reasons.
  4. The Operator reserves the right to amend or supplement the content of the Terms of Service, primarily due to changes in legal regulations, market and economic conditions related to Digital Currency trading, in order to facilitate proper operation of the Web Pages or proper delivery of services by the Operator. Amendments to the Terms of Service become valid and effective by being published on the Web Pages and shall be binding upon the Contracting Parties from that date.

III Risks of Trading

  1. Digital currency is not considered legal tender in the Czech Republic, as it is not regulated by legal regulations governing payment services (in particular Act No. 284/2009 Coll., On Payments, as amended, and Act No. 277/2013 Coll., On exchange activities, as amended), and trading of Digital Currency is, as such, not subject to authorization, regulation or supervision by the Czech National Bank.
  2. The Client acknowledges that the current legal form of the Digital Currency is only partial and incomplete, and these circumstances, as well as the interpretation of applicable legal standards, may change in the future, and commits to accept and respect these changes, as well as any modifications to these Terms of Service resulting from said changes.
  3. The client is fully aware of all the risks associated with Trades, the nature and process of storing Digital Currency, in particular the risk of price and value fluctuation of Digital Currency and the associated eventuality of significant gains and losses on investments, even in a short time interval.
  4. The Operator is not liable for fluctuations of the price and value of the Digital Currency, a reduction of or loss of trust, anonymity or any other positively evaluated attribute of Digital Currency, nor for any changes to made to the legislative framework relevant to Digital Currency trading.
  5. The Client declares that they responsibly took into account their ability to assess any and all risks associated with Digital currency and Trades described in this article, as well as their asset, financial and investment options, and declares that they fully and voluntarily accept them.
  6. The Client acknowledges that crediting the Client's electronic wallet account with Digital currency by the Operator concludes a Trade, thereby becoming irreversible and final.

IV Identification and inspection of the Client according to the AMLZ

  1. The Operator is an obliged entity as per section 2, paragraph 1, lett. l) of AMLZ, and is therefore obliged to proceed in accordance with this Act.
  2. The operator, acting within the capacity of an Obliged entity, performs an identification of the client in accordance with the provisions of section 7 of the AMLZ no later than whenever it becomes apparent that the value of a Trade (transaction) exceeds EUR 1.000 within the period of one (1) month, and notwithstanding this limit also whenever the the transaction is suspicious, or whenever a business relationship is formed. The value of individual transactions shall be added together for individual clients, accounts, as well as the e-mail addresses to determine the level of attainment of the aforementioned limit.
  3. The Client acknowledges that the Operator may, based on risk assessment, determine a transaction value for individual trades that they provide, which, upon being reached, would always entail Client identification, and that this value may be lower than EUR 1.000.
  4. Suspicious transaction is to be understood as referring to a trade that takes place under circumstances that give rise to suspicion of attempts at legalization of proceeds stemming from criminal activities; suspicion that the funds used in the trade are intended to finance terrorism, or that the trade is otherwise associated with the financing of terrorism; or due to another fact that could suggest such a suspicion. The transaction is considered suspicious whenever the client refuses to submit to inspection as described below.
  5. Client identification is carried out in accordance with the provisions of section 8 of the AMLZ, which is as follows:
    1. The Operator, in identifying a non-legal entity, shall record identification data from an identity card, if they are contained therein, thereafter record the category and number of the identity card, issuing country or authority, and period of validity; at the same time verify and compare the appearance to a depiction in the identity card.
    2. When identifying a legal entity, the Operator shall record and verify identification data from records that prove the existence of the legal entity in question and shall, to the extent of lett. a), perform an identification of the non-legal entity acting on behalf of the legal entity within the context of a particular transaction; in case that a statutory body, a member of such a body or a controlling person of the legal entity is another legal entity, the Operator shall record its identifying information as well.
  6. As part of the Client identification process, the Operator shall verify and record whether the Client is a politically exposed person or whether they are not a person against whom the Czech Republic applies international sanctions under the Act on the Implementation of International Sanctions.
  7. In future transactions with a Client, previously identified in accordance with section 5, the Operator shall, in an appropriate way, verify the identity of the non-legal entity involved in such transactions.
  8. The Operator will re-check the validity and completeness of the Client's identification data for the duration of a business relationship and for future transactions.
  9. The client shall provide the Operator with information that is necessary to complete the identification, including the submission of relevant documents. The Operator may, for the purpose of AMLZ, process the information obtained in this process.
  10. Identification data is provided primarily by completing and submitting the order and / or registration form and by submitting the required records and documents.
  11. At the request of the operator, initial Client identification may be performed by a notary a or public administration center / contact point. The Operator may waive the need to identify the Client if such identification has been performed by a credit or financial institution and may accept such identification.
  12. The Operator, acting within the capacity of an Obliged entity, shall, in accordance with section 9 AMLZ, inspect the Client prior to the realization of a transaction outside a business relationship no later, than when it becomes apparent that it will reach the value of EUR 10.000 or higher, whenever it is a suspicious transaction, and whenever a business relationship is formed, prior to the realization of the transaction as well as during the course of the business relationship.
  13. The inspection includes obtaining information on the following: the purpose and intended nature of the business, or the business relationship; the ownership and control structure of the Client and its factual owner, in case the Client is a legal entity, and the adoption of measures to identify and verify the identity of the factual owner, ongoing monitoring of the business relationship, including the examination of transactions carried out within its context,, examining sources of funds or other property involved in the business or the business relationship.
  14. The Client acknowledges that the Operator may, based on risk assessment, determine a transaction value for individual trades that they provide, which, upon being reached, would always entail Client identification, and that this value may be lower than EUR 1.000. as per paragraph 12.
  15. The client shall provide the Operator with information that is necessary to complete the identification, including the submission of relevant documents.
  16. The Operator shall refuse to carry out a transaction or establish a business relationship or shall terminate a business relationship should a identification obligation be given and the Client refuses to undergo identification or does not provide the necessary co-operation for the duration of the inspection or if Client identification or inspection can not be performed for any other reason or if the person performing the identification or inspection of has any doubt about the truthfulness of the information provided by the Client or the authenticity of the documents submitted.
  17. In case the Operator detects a suspicious trade, they shall notify the Office, without undue delay, but not later than within the time limit set by law.
  18. If there is a risk that an immediate realization of trade could frustrate or significantly impede confiscation of proceeds stemming from criminal activities or funds intended to finance terrorism, the Operator may execute the purchase order placed by the Client that is relevant to the suspicious transaction no sooner than 24 hours after the receipt of a suspicious transaction notification provided by the Office.
  19. The Client acknowledges that whenever there is a risk delineated within the meaning of paragraph 18 and the investigation of the suspicious trade requires additional time due to its complexity.the Office may decide to (i) extend the deferment period for the purchase order placed by the Client, (ii) to defer the fulfillment of the purchase order placed by the Client indefinitely, or (iii) confiscate the property that is to be the subject of the suspicious transactions on the Operator's end.
  20. The Operator shall identify and inspect the Client using the ways and means as defined within the confines of article V.

V Client registration and verification

  1. The client may place an order to buy or sell Digital currency with or without prior registration.
  2. The ability to place an order without registering is limited to a sum of the values of orders placed by the Client, which may not exceed the amount of EUR 1.000 for a period of one (1) month.
  3. If the summary value of orders placed by the Client within a one (1) month period reaches an amount equal to EUR 1.000, the Client may place additional order only after completing the registration process.
  4. During basic registration, the Client shall fill out required data in their profile (including telephone contact) and submit to the Operator the following documents: (i) two identity cards containing officially confirmed basic credentials about the Client, in particular their full name, photograph and date of birth, (ii) header of the Client's account statement associated with the bank account that is to be used to fulfill obligations stemming from the Contract, which states the account number, the Client's name and name of the financial institution. The Client shall allow the inspection of the originals of the aforementioned documents or shall provide adequate, legible and color photocopies of these documents. The Client acknowledges that the Operator will contact the Client by telephone for the purpose of verifying the provided information as part of the verification process.
  5. If the Operator finds any shortcomings in the basic registration made by the Client, the Operator is authorized to require the Client, repeatedly if need be, to immediately remove said shortcomings until such time until the basic registration may be deemed as fulfilling contractual obligations and legal requirements.
  6. Following the approval of the basic registration, the Operator may, at their discretion, proceed to a higher level of data verification. The Operator shall do so always under conditions such as are outlined in art. IV. paragraph 12. In such cases, the Client shall submit the following documents to the Operator: (i) A photograph showing the client and his identity card (ID selfie), and (ii) a document proving the origin of the funds, that are to be subject to the Trade (e.g. tax declaration, proof of income, financial statement, loan agreement, deed of gift, a court order related to inheritance, etc.); In case that this proof cannot, for objective reasons, be provided, it may be replaced by an appropriate self-certification / affidavit. The Client shall allow the inspection of the originals of the aforementioned documents or shall provide adequate, legible and color photocopies of these documents.

VI Order

  1. Any and all offers of sale and / or purchase of Digital currency published on the Web Pages by the Operator are solely informative in nature and are to be considered solely as a solicitation of offers. Aany and all Client orders are considered solely as proposals to enter into a Contract. The provisions of Section 1732, paragraph 2 of the Civil Code shall not apply. The Operator reserves the right not to enter into a Contract with the Client on the basis of its offer published on the Web Pages or on the basis of the Client's order.
  2. Any Contracts entered into must necessarily be preceded by (i), on the part of the Client, a completion and delivery of an order form on the Web Pages, delivery of required documents and cooperation. fulfillment of financial obligations in accordance with a confirmed order(ii), on the part of the Operator, delivery of the order confirmation along with instructions as per paragraph 6 to the e-mail address of the Client and delivery of an acceptance of the order to the email address of the Client.
  3. A Contract between the Operator and the Client is made at the moment of delivery of the acceptance of the order by the Provider to the Client, which the Operator shall perform upon fulfillment of the Client's financial obligations crediting the Operator. in compliance with a confirmed order. The Client hereby expressly agrees to the use of means of remote communication when when the Contract is being concluded.
  4. Property rights to the subject of the Trade (i.e. to Digital currency in the event of a purchase by the Client or to the amount corresponding to the purchase price in case of a Digital currency sale by the Client) is transferred to the Client at the moment of the Operator crediting the Client with consideration in compliance with a confirmed order. The provisions contained in the last sentence of paragraph 1 shall not be affected.
  5. The Client places an order by completing and submitting an order form on the Web Pages. The Client concurrently accepts liability for the for the veracity, accuracy and completeness of data stated in the order. Such data is considered to be factual and the Operator is not liable for any damages resulting from any errors and shortcomings in the provided data.
  6. After an order is placed, the Operator shall deliver to the Client, by e-mail, a confirmation of the order along with directions containing instructions for the provision of fulfillment (i.e., payment of the purchase price of the Digital currency or placement of the Digital currency to an electronic wallet account) and a time period for fulfillment (hereinafter referred to as "Instructions").
  7. As soon as the Client fulfills the financial obligations in compliance with the Instructions, the Operator shall provide adequate consideration in return in accordance with art. VIII. paragraph 7.
  8. The Client is entitled to cancel the order via the order form up to the moment of the fulfillment becoming credited to the Operator. In such cases they are obliged to pay the related fees to the extent specified by the Operator's Price List published on the Web Pages. The Operator is entitled to cancel the order via an e-mail message sent to the Client up to the moment of the consideration becoming credited to the Client. 
    1. Should the time period stipulated in the Instructions expire ineffectually, the order will be suspended and the original conditions of the Trade will become null and void. If the Client cancels a suspended order, they are obliged to pay to the Operator any and all associated fees in the amount specified in the Price List.
  9. The Operator may process a suspended order at their discretion. Ordinarily, this may take place if the the price of the Digital currency had not changed by more than 0,1 % compared to its original value. 
  10. If the Operator does seek to process a suspended order, they will provide the Client with new Instructions via e-mail.interest in the suspended order, will send the client an e-mail with new Instructions. If the Client does not fulfill their financial obligations in compliance with the new Instructions, the suspended order will, upon the ineffectual expiry of the time period for the fulfillment of financial obligations stipulated in the new Instructions, be deemed as cancelled. In such a case, the Client is obliged to pay the Operator associated fees to the extent specified in the Price list.

VII Pricing policy, discounts and benefits

  1. The Price of the Digital currency is published on the Web Pages and it is continuously updated by the Operator to reflect the development of market conditions and other pricing factors.
  2. The quoted price of the Digital currency includes all relevant rates and fees and, unless otherwise stated, is valid for the duration of being displayed on the Web Pages and the operator is authorized to adjust / change it at any time. The rights of the Contracting Parties to enter into a Contract under mutually agreed, individual conditions of the individual shall not be affected.
  3. The Price of the Digital Currency includes so-called relative fees (i.e. the profit margin of the Operator), the amount of which is determined based on coefficients, market rates and other economic criteria and are subject to change at any time. The amount of the relative fee is considered a trade secret of the Operator.
  4. In addition to the price of the Digital Currency, the Operator charges the Client with so-called absolute fees, the amount of which is determined by the actual costs incurred by the Operator in connection with a non- / executed Trade (e.g. bank charges, handling fees upon cancellation of the order, etc.). The Operator is authorized to use their claim for absolute fees towards the Client to offset any financial obligations that the Operator may have toward the Client, which are implied as per the Contract or emerging from its context.
  5. The Operator may provide Clients with discounts or other benefits; Rules governing the provision of discounts (hereinafter referred to as "Rules") are published on the Web Pages and are subject to change at any time. Discounts are provided, in particular, depending on the volume of Trades realized by the Client and they are automatically taken into account in the order confirmation. An operator may also provide additional rebates beyond the scope of the Rules, taking into account the circumstances of the transaction.

VIII Terms of Payment

  1. The client agrees to (i) pay the cost of Digital Currency exclusively by bank transfer from a bank account held by the Client, or one to which the Client holds a right of disposal, or by a deposit of cash, to which the Client holds property rights, at a Bank, and (ii) to offer to sell to the Operator only Digital Currency, which is wholly owned by the Client and stored in their electronic wallet account. Failure to comply with the terms referred to in the previous sentence shall be considered a serious breach of the Contract and the Operator is not liable for any resulting damages suffered by the Client or a third party.
  2. When paying the cost of the Digital Currency, the Client shall fill out a bank report for the Operator, who is the recipient of said payment. Otherwise, a delay by the Operator in providing the consideration is ruled out within the meaning of article VI. paragraph 7, until such time as the payment is matched with the order.
  3. The Client shall pay the purchase price of Digital currency to the bank account of the Operator within the time limits set for fulfillment, as specified in the Rules. The provisions of Section 2119, paragraph 1, sentence 1 of the Civil Code shall not apply. The Client's obligation to pay the purchase price shall be deemed to have been met as soon as the payment is credited in the internal system of the Operator, which is linked to the bank account of the Operator and automatically updated in accordance with it, and as soon as a confirmation of the above fact is sent to the Client by the Operator.
  4. The Client shall deposit the Digital currency to the electronic wallet account of the Operator within the time limits set for fulfillment, as specified in the Rules. The Client's obligation to deposit the Digital currency shall be deemed to have been met as soon as the respective amount of Digtal currency is credited in the internal system of the Operator, which is linked to the electronic wallet account of the Operator and automatically updated in accordance with it, and as soon as a confirmation of the above fact is sent to the Client by the Operator. Concurrently, each type of Digital currency requires a different method of confirmation, with respect to the frequency of partial confirmation operations within specified time limits. Further terms of certification for individual Digital currencies are specified here.
  5. If the Operator fails to confirm, without undue delay, within the meaning of paragraph 3 and / or 4, but no later than within three (3) days after receipt of payment and/or Digital currency on the relevant account, the Client is entitled to demand a cancellation of the order and return of the fulfilled amounts from the Operator, or request that new Instructions, reflecting updated Digital currency prices be sent, notwithstanding that new conditions of the Trade may be less profitable for the Operator than the original conditions.
  6. If the Client's obligation to pay the purchase price of the Digital Currency is fulfilled within the set deadline, the Operator shall, without undue delay and no later than within three (3) days, transfer the Digital currency to the Client's electronic wallet account, as specified in the order. If the obligation of the Client to deposit the Digital currency to the electronic wallet account of the Provider is fulfilled within the set deadline, the Operator shall, without undue delay and no later than within three (3) days, transfer an amount corresponding to the purchase price of the Digital currency to the Client's bank account, as specified in the order. The purchase price is deemed to have been paid on the date of debiting of the relevant amount from the Operator's bank account in favor of the Client's bank account. Digital currency is deemed to have been deposited on the date of transfer of the relevant amount of Digital currency in favor of the Client's electronic wallet account.
  7. Concurrently, the Operator is not liable for delays resulting from force majeure or other circumstances beyond the Operator's control (e.g. technical difficulties on the side of the Bank, system outages, etc.). The deadlines for the fulfilment of the obligation on the part of the Operator, referred to in paragraph 6 are extended for the duration of delays mentioned in the first sentence. In the case that these periods exceed a period of five (5) business days, the client may require the operator to order cancellation and restitution. The Operator shall comply with a request of this nature.
  8. In the event that the Client provides a duplicate fulfillment in relation to the Instructions (i.e. a double payment of the purchase price of the Digital currency or double transfer of the Digital currency ), the Operator shall inform the Client by e-mail immediately after discovering this fact and concurrently offer the Client adequate limited-time consideration in return. If the Client does not accept or rejects the new offer during its validity, without undue delay upon its delivery, the order shall be deemed canceled and (duplicate) consideration shall be returned to the Client's account.

IX Withdrawal from the Contract

  1. The Client cannot withdraw from the Contract based on the provisions of section 1837 lett. b) of the Civil Code, as the subject of the Contract consists of delivery of Digital currency, the price of which depends on fluctuations in the financial market irrespective of the intentions of the Operator, and which may occur during the time period set for the withdrawal from the Contract. The right to withdraw from the Contract in cases where the Operator fails to fulfill the conditions of the Contract in accordance with the concluded Contract, fulfills these conditions only partially or fulfills conditions other than those agreed upon, or under other circumstances specified in the Terms of Service, shall not be affected.
  2. The Operator may withdraw from the Contract without giving reasons at any time up to the moment of delivery of the subject of the order to the Client, in particular:
    1. due to the inability to fulfill its obligation to the Client resulting from insufficient liquidity, interruption of the power supply or the Internet connection, restricted access to a bank account, interruption of the Digital currency exchange's service or due to force majeure;
    2. due to suspicion about legalization of proceeds stemming from criminal activities and terrorist funding within as defined by AMLZ in conjunction with article IV;
    3. due to unexpected changes in the circumstances consisting of exchange rate fluctuations in the sense outlined within section 1765, paragraph 2 of the Civil Code;
    4. due to impetuous, unnecessarily burdensome or obstructive conduct on the part of the Client (e.g. repetitively placing and failing to pay for orders, creating excessive administrative burden by repeatedly placing orders in a short period of time, etc.); or
    5. due to failure to fulfill the proper particulars of the payment made by the Client, particularly omitting to fill out the payment purpose in a note to the recipient (e.g., note that reads "Bitcoin purchase from Simple Coin", etc.).
  3. In the event of withdrawal from the Contract, the Contract shall be deemed null and void from the outset. The Client shall return any consideration received from the Operator to the Operator's bank account or electronic wallet account no later than three (3) business days from withdrawal taking effect. The Operator shall return any consideration received from the Client to the Client's bank account or electronic wallet account no later than three (3) business days from the withdrawal taking effect or from the date of the return of the subject of the Trade to by the Client to the Operator, whichever moment occurs later. Costs associated with the return of provided consideration shall be incurred by the Contracting party considered liable for reasons leading to withdrawal. Concurrently, the Client becomes obligated to compensate the Operator for associated fees to the extent specified in the Price List.

X Additional Rights and Obligations of the Contracting parties

  1. When using the Web Pages, the client is obligated to comply with generally binding and applicable legal regulations and Terms of Service as well as respect the rights of the Operator and those of third parties. The Client undertakes not to:
    1. Use the Web Pages in a manner that is likely to cause damage the Operator, other clients and / or a third party;
    2. Alter the content of the Web Pages, breach their integrity in any way, pose danger to and / or interfere with their operation;
    3. Use programs, software, devices, or other mechanisms and procedures, which could negatively impact the operation of the Web Pages;
    4. Illegitimately obtain personal data of other clients or information, facts and know-how that constitute the Operator's trade secrets; nor
    5. Use non-secure e-mail services or disclose the access password to his / her account to any third parties.

  2. The Client shall be liable for any damages suffered as a result of his / her conduct or omission that contradict generally accepted principles of morality, generally binding and applicable legal regulations, the Terms of Service and the Contract.
  3. The Client is entitled to:
    1. Manage his / her client account, in particular, to determine (or change) the access password to his / her account, the frequency of sending of informational e-mails regarding the status of order processing and Trade execution and other adjustable parameters;
    2. Contact, at any time via e-mail, and during business hours (see paragraph 4) via telephone communication, the Operator's customer support, which will provide him / her with the requisite information, manuals and recommendations as well as ensure additional assistance necessary for the continued use of the Operator's services, in Czech, English or Russian language, according to the present availability of the Operator's employees;
    3. Contact the Operator, via the info@simplecoin.eu e-mail address, with any complaints related to the processing of orders and execution of Trades, which the Operator shall address within a reasonable time period and shall communicate available solutions to the Client via his / her e-mail address; and
    4. Object to a Trade in cases and in ways specified by the Terms of Service, as well as the generally binding and applicable legal regulations.
  4. The client acknowledges that the Operator processes orders and executes Trades primarily during business hours between 09:00 and 21:00, including on weekends and during public holidays. Processing of orders and execution of Trades may, however, be slower or limited during weekends and public holidays.

XI Limits of Operator's liability

  1. The Operator guarantees to the Client that a Trade will be executed or that the order will be cancelled. The Trade shall be deemed completed as soon as the Digital currency is transferred to the electronic wallet account listed in the order by the Client or as soon as an amount corresponding to the purchase price of the Digital currency is transferred to a bank account listed in the order by the Client.
  2. If, for any reason, the Trade cannot be executed after the Client already provided consideration in compliance with the Instructions, the amount corresponding to the purchase price of the Digital currency credited to the Operator's bank account or the Digital currency transferred to the electronic wallet account of the Operator shall be immediately credited back to the bank account or transferred to the electronic wallet account where it originated. Provisions of article IX, paragraph. 3 shall apply analogically.
  3. Any damages suffered by the the Client as a result of the negligence of the Client or a third party or as a result of their deliberate conduct contrary to generally accepted principles of morality, generally binding and applicable legal regulations, the Terms of Service and the Contract, shall not be the Operator's liability.
  4. The Operator is expressly not liable for any damages or suffered by the Client by stating an incorrect electronic wallet account or bank account or by the loss, theft or misuse of the password to the e-mail address, electronic wallet or bank account of the Client.
  5. Furthermore, the Operator shall not be liable for any damages suffered by the Client
    1. as a result of legislative changes, including changes in the interpretation and application of the current legislation;
    2. as a result of a decision made or measures taken by a court, state prosecutor's office, law enforcement or other authorities of the public administration; and due to internet or Digital currency P2P network outages;
    3. due to a total or partial inaccessibility or inactivity of the Web Pages;
    4. due to illegal abuse of the Web Pages;
    5. due to computer viruses;
    6. due to cyber attacks;
    7. due to force majeure beyond the control and intentions of the Operator;
    8. due to the discontinuance of the offer to sell and / or purchase some or all of the Digital currencies, or, eventually, of other services; or
    9. due to an interruption in the operation of the Web Pages by the Operator (for example, to perform maintenance) or their termination.

XII Personal data protection

  1. The Operator processes personal data in accordance with GDPR and ZOOU, while respecting the principles of legality, fairness, transparency, purpose limitation, data minimization, accuracy, limitation of storage, integrity, and confidentiality.
  2. The operator is properly registered as an administrator at the Office for personal data protection under the registration number 00054530.
  3. 3. All personal data entered in the order or registration forms are processed solely for the purpose of realizing the Trade and for sending business correspondence to the Client via electronic means pursuant to Act no. 480/2004 Coll., on certain services of the information society, as amended.
  4. The Operator undertakes to collect personal information to the extent necessary to fulfill the specified purpose and process it only in accordance with the purpose for which it was collected; in this context, in particular, undertakes to:
    1. ensure that personal data will be always be processed in compliance with GDPR and ZOOÚ, that they will be up-to-date, accurate and true, and that these data will correspond to the purpose of processing within the meaning of paragraph 3;
    2. take appropriate measures to provide the Client with all information in a simple, transparent, understandable and easily accessible way, using clear and simple language means, and make all statements mandated by GDPR and ZOOU;
    3. ensure that the systems used for the automated processing of personal data are utilized exclusively by authorized persons, who have access only to personal information corresponding to their level of clearance, by utilizing specific user permissions set up exclusively for the these persons;
    4. implement technical, organizational, personal and other appropriate measures within the meaning of GDPR to ensure and be able to demonstrate, at any time, that the processing of personal data is conducted in accordance with GDPR and ZOOÚ in such a way that excludes the possibility of unauthorized or accidental access to personal data and data carriers which contain such data, their alteration, destruction or loss, unauthorized transmission, their unauthorized processing as well as other misuse, and to continuously review and update these measures as necessary;
    5. keep and continuously review and update records on the personal data processing as specified by GDPR;
    6. report possible breaches of security of personal data of the Office for personal data protection properly and in a timely manner and to cooperate with that authority to the necessary extent;
    7. maintain confidentiality of personal information and security measures, the disclosure of which would compromise the security of personal data, even after the Contract's expiration;
    8. comply with other GDPR and ZOOÚ requirements, in particular the general principles of personal data processing as per paragraph 1, fulfill their information obligations, not to transmit personal data to third parties without necessary authorization, to respect the rights of the Clients as data subjects and to provide them with the necessary co-action in this respect.
  5. Detailed terms and conditions of personal data processing are defined in a separate Consent to the processing of personal data.
  6. The Client acknowledges that the Operator processes the personal data in electronic form in an automated manner. Personal data are protected by double encryption and are secured in a manner similar to that of private keys to the electronic wallet accounts of the Operator.

XIII Cookies and commercial communication

  1. Cookies are understood as referring to small data files, which the Web Pages store in the Client's computer, tablet or mobile device, the purpose of which is to streamline and tailor the content and functionality of the Web Pages individually for each Client.
  2. The Operator uses cookies in order to improve the conditions for the utilization of its services and their advertisement.
  3. By using the Web Pages, the Client grants the Operator permission to store cookies on his / her computer device.
  4. By placing an order, the Client grants the Operator consent to transmit information related to Digital Currency, services or the business of the Operator, as well as to the sending of commercial communication to the Client's e-mail address. Upon the delivery of commercial communication, the Client has the opportunity to express his / her intention to opt out from receiving further commercial communication and the Operator is obligated to respect the expression of intention and refrain from sending further commercial communication to the Client.

XIV Final Provisions

  1. The operator reserves the right to modify the Web Pages, at any time and in any way, as well as the scope and conditions of the range of products and services, even without prior notice to the Client. The Client acknowledges that these modifications may affect the nature of the of the range of products and services and commits not to claim compensation for any damages within this context.
  2. In the event of a substantial breach or repeated, less significant, breaches of Terms of Service on the part of the Client, the provider is authorized to limit the scope of services provided to the Client.
  3. In the event of a serious breach or repeated substantial breaches of the Terms of Service by the Client, the Operator is entitled to restrict the Client from access to the services provided.
  4. The Client acknowledges that the Operator cooperates with the authorities of the public administration (e.g. with the Czech National Bank, the Office, law enforcement, etc.) within the context of Digital Currency trading and provides all the necessary cooperation for the exercise of their powers and the Client undertakes to provide similar cooperation and co-action to the Operator.
  5. All disputes arising between the Contracting Parties shall be settled by mutual agreement and by amicable means. In the event that disputes can not be resolved amicably, disputes they shall be settled by the appropriate courts of the Czech Republic. The Operator notifies the Client that the Czech trade inspection is the authority that supervises compliance with obligations set out for consumer protection.
  6. Any legal relationships arising in connection with the Web Pages the use thereof shall be subject to legal system of the Czech republic, particularly the Civil Code. This applies also for cases where the legal relationship of the Parties includes an international (foreign) element.
  7. Contracting parties expressly declare that the arrangements of the Terms of Service that diverge from or exclude provisions of the Civil Code are deliberately stipulated as such and are in accordance with generally accepted principles of morality, public order and with respect to all rights and legitimate interests of the of the Contracting parties.
  8. If any arrangement within the Terms of Service is or becomes invalid or unenforceable, it will not affect the validity and enforceability of the other arrangements. An invalid or unenforceable arrangement will be replaced by a new, valid and enforceable arrangement, the text of which will most aptly correspond to the intent expressed by the original arrangement and the Terms of Service as a whole.
  9. The Client declares that, prior to the use of the Web Pages and placing the order, he / she has read, became thoroughly acquainted with these Terms of Service, fully understood them and agreed with their content.
  10. These Terms of Service come into force and effect on 16.6.2018.