Terms of Use
Update: 17.07.2024.
This document covers general rules for using the Swapuz virtual
currency exchange service, lists the main risks and prohibited jurisdictions, describes
KYC/AML and refund procedures, and illustrates other important legal aspects. You must read,
understand and agree to these Terms of Use before using any Swapuz services.
1. General Provisions
1.1
These Terms of Use regulate relations pertaining to the
using of the website (hereinafter – "Website").
1.2
The following terminology applies to these Terms of Use:
•
"User", "You" and "Your" refers to
you, the natural person (individual) accessing the Website, using our services
through the Website and accepting these Terms of Use.
•
"Swapuz", "Services", "Ourselves",
"We", and "Us" refers to the company LIMITED LIABILITY COMPANY
«METACHAIN», duly organized under the laws of Ukraine.
•
"Party" refers to either you or us. For the
avoidance of any doubt, the contracting Parties under these Terms of Use are you and
Swapuz.
•
"Digital Asset", "Cryptocurrency" refer to
blockchain-based software ledger data entries.
•
"Exchange" means the swap of a crypto asset for
another or the same one crypto asset in other blockchain.
•
"Crypto Assets" means a type of assets that can
be transferred only and exclusively using blockchain technology, including, but not
limited to digital coins and digital tokens, and any other digital mediums of
exchange.
•
"Floating Rate Exchange" means a floating rate
cryptocurrency exchange performed at the current most profitable rate on the market,
at which the Service does not guarantee this rate.
•
"Fixed Rate Exchange" means an exchange
performed at the same rate which is displayed to the client at the beginning of an
exchange, regardless of subsequent rate fluctuations.
1.3
These Terms of Use are open and public document.
1.4
In these Terms of Use, unless otherwise specified, the words
importing the singular include the plural and vice versa, and the words importing gender
include all genders.
1.5
The user accepts that the Terms of Use may be updated by Swapuz
at any time. If the user does not read and accept the Terms of Use, the User should not use
or continue using the Services.
1.6
We reserve the right to change, supplement or modify these Terms
of Use from time to time at our sole discretion. The amended Terms of Use will be effective
immediately upon posting on the Website.
2. Using of Services
2.1
By using the website, you accept these Terms of Use and agree
that you are responsible for compliance with all applicable laws, and regulations.
2.2
Before you start working with the Website, you need to be sure
that you meet some basic requirements:
•
you do not use VPN to mask your physical location from a
restricted jurisdiction.
•
you are lawfully permitted to access this website under the
laws of the jurisdiction on which you reside and located.
2.3
Accepting the terms of the floating exchange option, also called
«Floating Rate Exchange» means you acknowledge and agree that the information about the
exchange rates for the floating rate option is indicative and may differ from the actual
exchange rate.
2.4
By using the "Fixed Exchange Rate" you acknowledge and agree that
the fixed exchange rate may differ from the floating exchange rate. Swapuz shall complete the exchange if the following requirements are met:
•
We received the crypto asset at the time specified in the
timer, after the user created the exchange. It is important to note that a payment
transmitted to the blockchain network does not mean that Swapuz accepts this payment.
The number of payment confirmations is determined by us depending on the blockchain.
•
The user sent a crypto asset to a specially created address
on the page of the exchange, in the network specified by the user.
•
The user sent the exact amount that was displayed on the
website, as well as took into account all relevant withdrawal fees and network fees.
If the situation allows for an exchange, the
transaction will be pushed through at the rate that was confirmed by the user at the
beginning of the exchange.
If the market situation is such that the transaction cannot be executed anymore, the crypto assets will be refunded, if possible.
If the user sent an inaccurate amount, Swapuz may, at its discretion, decide to complete exchange at the specified or current rate.
If the market situation is such that the transaction cannot be executed anymore, the crypto assets will be refunded, if possible.
If the user sent an inaccurate amount, Swapuz may, at its discretion, decide to complete exchange at the specified or current rate.
2.5
When you exchange crypto assets, you acknowledge and agree that
we cooperate with third-party liquidity providers, and we can use their services to complete
the exchange.
2.6
The Website provides non-custodial services, which means that we
do not store your Crypto Assets on deposits and balances.
2.7
By accepting these Terms and using the Website, you represent and
warrant that:
•
you are at least 18 years old and have full capacity to
contract under the applicable law;
•
are not located in, under the control of, or a national or
resident of the prohibited jurisdictions (Section 10 hereunder);
•
you are only transacting on the Website with
legally-obtained funds that rightfully belong to you;
•
you are not furthering, performing, undertaking, engaging
in, aiding or abetting any unlawful activity through your relationship with us or
through your use of the Website and our services;
•
you shall use the Website and our services only for the
purposes related to personal non-commercial use and you do not represent any third
party;
•
you understand that engaging in the change of the
Cryptocurrency may be risky;
•
you acknowledge and agree that Swapuz is not acting as your
broker, intermediary, agent or advisor or in any fiduciary capacity, and no
communication or information provided to you by Swapuz shall be considered or construed
as advice;
•
you shall not mislead other Users and third parties during
using the Website;
•
you will not take any action aimed solely at causing damage
to Swapuz or other third parties;
•
you shall not reverse engineer, decompile or otherwise
disassemble the Website or any Swapuz software;
•
recognizing the international nature of the Internet, you
accept all responsibility for compliance with all local laws and regulations relating to
your actions in the network;
•
you agree and consent to receive electronically all
communications, agreements, documents, receipts, notices and disclosures that Swapuz
provides in connection with your use of the Website and our services;
•
you understand and acknowledge that any delays in services
are possible;
•
you shall not use proxy and VPN or other software for
concealing your IP-address.
2.8
In order to protect the integrity of the Website, Swapuz reserves
the right at any time in its sole discretion to block users who violate these Terms of Use.
3. Personal Data
3.1
By accepting these Terms, you expressly allow Swapuz to process
your personal data, export your personal data outside of the jurisdiction in which you
reside or are located.
3.2
We are entitled to transfer some User’s data (including
IP-addresses) to our business partners or governmental bodies at their request to facilitate
the prevention and disclosure of prohibited or illegal actions. By accepting these Terms,
you acknowledge and agree to your personal data may be transferred in this way.
3.3
For more information, read the official Swapuz Privacy
Policy here
4. AML/KYC Procedure
4.1
We maintain a Know-Your-Customer (KYC) policy to comply
with Record keeping Requirements. If your proposed purchase is flagged through our
internal controls or an exchange partner’s internal controls, we reserve the right to
refund your exchange, less any applicable fees incurred by the Company during such
refund process. We may not make Services available in all markets and jurisdictions. The
Services are not intended for use by individuals who are citizens or nationals of or
resident in a restricted location, where the local laws prohibit you at any time (by
reason of your nationality, domicile, citizenship, residence or otherwise) to access or
use the Services. At this time, restricted locations include the United States of
America, Canada, France, North Korea, Sudan, Russian-occcupied regions of
Ukraine(Donetsk, Kherson, Luhansk, Zaporizhzhia,Crimea and Sevastopol), Republic of
Cuba, Syrian Arab Republic, People’s Republic of China, Japan, Republic of Iraq,
Republic of Yemen, Federal Republic of Somalia, Republic of Congo, State of Libya,
Republic of Liberia, State of Eritrea, Republic of Mali, Republic of Zimbabwe, Republic
of Côte d’Ivoire, Mainland China, Singapore, Germany, Hong Kong, Malaysia, Malta, Spain,
Netherlands, Bolivia, UK, Myanmar, Venezuela, Uzbekistan, Austria, India, Indonesia, the
Islamic Republic of Iran and any state, country or other jurisdiction that is embargoed
by England and Wales. For greater clarity, the content of the Terms shall not be
excluded from the laws of the country or region under which the User belongs. As a
result, if you do not meet these eligibility requirements, do not use our Services.
Communication with the AML Compliance Officer in regards to this Policy is conducted via
[email protected]
5. Exchange Rates, Fees and Confirmations
5.1
Exchange rates are constantly updated, Swapuz tries to deliver
information about exchange rate changes to the User as comfortably as possible, but this is
not a requirement on our party.
5.2
The user can always track the current rates on the main page of
the website or ask the support team.
5.3
Exchange fees, as well as all third-party commissions, are
included in the rate provided on the Website.
5.4
Swapuz fees are subject to change at any time, without notice to
the User.
5.5
To start the exchange requires the full passage of all required
deposit confirmations. The number of confirmations may vary depending on the blockchain, if
possible our party provides the required number of confirmations on the status "Confirming"
otherwise the User can request information about deposit confirmations from the support
team.
6. Refund Policy
6.1
Cryptocurrency and Digital Assets are, by their nature, generally
irreversible, and their exchange rates are highly volatile and transitory. We cannot be
responsible for any risk in use of the Website, including but not limited to exchange rate
risk and market risk. All sales and transactions after the Swapuz exchange are final and
amount is non-refundable.
6.2
There are minimum amounts on the website in the User interface,
please do not send less than the minimum amount. Otherwise Swapuz is not responsible for these funds and will decide individually for each deposit to refund or complete an exchange.
6.3
Service is not responsible if the User has sent a deposit not on
the specified network, unfortunately, such funds are very rare to return. Swapuz team will help the user in this case, if possible.
6.4
Swapuz is not responsible for funds that have been sent to the
fake phishing sites. It is important that all Users shall verify they are visiting the
correct URL (swapuz.com) on their own and search for the security certificate in the URL bar
of their browser. Also, never trust private messages, solicitations or requests for funds from people claiming to be Swapuz unless you have verified that it is an official request from a Swapuz employee.
In case of doubt, contact us directly to verify any messaging.
6.5
Fake tokens or Imitation tokens mean tokens that have no value.
Despite mimicking the existing project and having the same name or logo, such tokens do not
have the contract address of the project. Swapuz checks the contract of the sent token, and
if it does not match the official token contract, the deposit will not be recognized by the
system. In case of receiving Fake tokens or Imitation tokens to its deposit address, Swapuz
shall not exchange or return such tokens.
6.6
The average refund time can take from 1 to 7 business days. In case our trading account has been restricted by a liquidity provider or a law enforcement agency, the refund may take indefinitely, depending on the above-mentioned authorities.
6.7
If your exchange or deposit is suspected of fraud, the Service
reserves the right to suspend the refund or exchange indefinitely to allow the customer to
pass the KYC.
7. Prohibited Jurisdictions
7.1
Swapuz maintains the right to select its markets and
jurisdictions to operate in and may restrict or deny its services to certain countries.
OFAC and UN sanctions list jurisdictions are geofenced, and resultantly that Swapuz cannot be accessed from these jurisdictions. You can read about the prohibited jurisdictions here.
7.2
Swapuz also maintains the right to use various methods to prevent
the use of the Website and its services by the Users listed above. You are to comply with
this Section, even if Swapuz methods to prevent use of its services and the Website are not
effective or can be bypassed.
7.3
Use of the Website is void where prohibited by applicable law.
7.4
Swapuz has the right to obtain your IP-address. If the IP-address
is allocated in the prohibited jurisdiction (Section 10 hereunder), Swapuz can deny you the
access to the Website and providing services.