EXBI® TERMS OF USE

Last revised: 15 June 2023

GENERAL PROVISIONS
1. This Terms of Use (“Agreement”, “Terms”, “Policy”) is an electronic agreement between the Client (“you“, “Client“, “User”) and EXBI Cash UAB (hereinafter referred to as “Company“, “we“, “EXBI”), that applies to the use of the Company’s services. By accessing, downloading, using, or clicking on “I agree”, “I accept”, “Start”, or any similar agreement, acceptance, or commencement acknowledgment to accept any services provided by EXBI, you agree that you have read, understood, and accepted all of the terms and conditions stipulated in these Terms. Also, by accessing, using, or attempting to use EXBI Services in any capacity, you acknowledge that you accept and agree to be bound by these Terms. If you disagree, do not access EXBI or utilize EXBI Services in any way.
2. By registering on this Website:
  1. You acknowledge and confirm that you have read, understood, and completely agree to be bound by this Agreement in effect, with its possible subsequent amendments and changes.
  2. You shall assume all risks related to the use of the EXBI Services and transactions of Digital Assets;
  3. EXBI shall not be liable for any such risks or adverse outcomes
  4. You should obtain independent legal and/or financial advice before entering into any transaction and/or using any EXBI Services. In case previous versions of this Agreement or its essential parts is required, please submit such a request to [email protected]
3. Please read this Agreement carefully, as it regulates your use of our services. Digital currencies can be of high volatility and present a substantial risk as an investment instrument. By using our services, you acknowledge those risks, accept this agreement, and will not hold the Company liable for any financial losses associated with our services.
TERMS AND DEFINITIONS
1. Agreement - means this Terms of Use with its essential and integral parts, as may be amended and/or altered from time to time in accordance with its terms.
2. Essential and integral parts of this Agreement are:
  1. Privacy Policy
  2. Cookies Policy
  3. AML/CTF Policy
  4. Fees and Limits
  5. Any other specific agreement concluded by the Company
3. Account - functional part of the Website that controls Clients funds for the purpose of this Agreement.
4. AML/СFT Policy - a policy aimed at the prevention of laundering of money derived from criminal activity and financing of terrorism, which constitutes an essential part of this Agreement.
5. Money laundering (ML):
  1. the conversion or transfer of property, in the knowledge that such property is derived from a criminal act or from involvement in such an act for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such a criminal act to evade the legal consequences of this act;
  2. the concealment or disguise of the true nature, origin, source, location, disposition, movement, rights with respect to, or ownership of property, in the The knowledge that such property is derived from a criminal act or from involvement in such an act;
  3. the acquisition, possession, or use of property, in the knowledge, at the time of acquisition/transfer that such property was derived from a criminal act or from involvement in such an act;
  4. preparation attempts to commit, and the association to commit any of the acts referred to in points 1, 2, and 3 of this paragraph.
  5. Terrorist financing (TF) - according to Lithuanian law - an act that constitutes a A criminal offense under December 9 Article 2 of the International Convention for the Suppression of the Financing of Terrorism. Terrorist financing means the provision of funds, directly or indirectly, with the intention that they should be used or in knowledge that they are to be used in order to carry out any of the offenses within the meaning of Articles 1-4 of Council Framework Decision 2002/475/D1A of 13 June 2002 on combating terrorism and falling under Article 250 of the Criminal Code of the Republic of Lithuania.
  6. Client - the natural or legal person performing monetary operations or concluding transactions with a financial institution or another obligated entity.
  7. Virtual currencies (or digital currencies or digital assets) - digital representation of the value that does not possess a legal status of currency or money, that is not issued or guaranteed by a central bank or any other public authority, is not necessarily attached to a currency, but is accepted by natural or legal persons as a means of exchange and which can be transferred, stored, and traded electronically.
  8. Fees - any rewards, charges, and/or commissions paid to the Company by Clients, which are established by the Company.
  9. Privacy Policy - rules of collection, storage, distribution, and protection of Personal Data that the Company obtains from Clients and that constitutes an essential part of this Agreement.
  10. Personal Data - information that identifies an individual, such as name, address, email address, IP address, and banking details.
  11. Transaction - means any payment, transfer, or receipt of funds.
  12. Website - set of information, texts, graphic and design elements, pictures, photos, video and other intellectual creations, as well as a set of computer programs, contained in the information system, which ensures the accessibility of this information at https://exbi.trade, including any sub-domains and, in the event the domain or content of the website should be changed for any reason, it shall include the website after any such changes.
  13. Client Account Data - the client’s data necessary to access and use the Website, that includes: login, password, email, and other data indicated during the registration process, as well as after it.
  14. Fiat Funds (Fiat Currency) - government-issued currency, that is designated as a legal tender in its country of issuance on the legislative level.
  15. External Account - any Financial Account or Digital Asset Account from which the client may load Assets into the Account and to which the Client may transfer Assets from Account.
  16. Assets - means objects, money, securities, other financial instruments, and other assets and property rights, results of intellectual activity, information, actions, and results of activities, other property and non-property values, and any other physical or non-physical, movable, or immovable property; immovable, tangible, or intangible property and legal documents or instruments in any form, including electronic or digital, evidencing title to or interest in such property.
SUBJECT OF THE AGREEMENT AND ELIGIBILITY
1. Under this Agreement, the Company provides the Clients with the following services:
  1. Opening of account on the Website;
  2. Implementation of the Account transactions by using the Website of the Company;
  3. Participation of Clients in the purchasing or selling of digital currencies;
  4. Provision of online information about the digital currencies rates from various sources;
  5. Provision information necessary to use the Website of the Company.
2. Depending on the rules and laws in the Client’s country of residence, the list of the services provided by the Company may vary.
3. By registering on the Website, the Client represents and warrants that:
  1. You are at least 18 years old or of legal age to form a binding contract under applicable Law;
  2. You are an individual, legal person, or other organization with full legal capacity and authority to enter into this Agreement;
  3. You have not previously been suspended or removed from using our Services and/or Platform;
  4. You do not currently have an existing Account.
4. You are not allowed to perform to use any of the services performed by the Company:
  1. You are in, under the control of, or a resident, or a national of one of the FATF non-cooperative jurisdictions or jurisdictions that prohibit the use of digital currencies, or other jurisdiction, which has strategic deficiencies in their AML/CTF regimes that pose significant threats to the financial system of the EU under Commission Delegated Regulation (EU) 2016/1675, or that is subject to the United Nations Security Council Sanctions List (each a “Sanctioned Country“), or if you are a person on the EU or HM Treasury’s or any other financial sanctions regime (a “Sanctioned Person“);
  2. You are the person who fails to meet any Client due diligence requirements of the company, or otherwise appears to be of high risk, including but not limited to any of the foregoing factors.
5. If the Client is using our Company’s services on behalf of a legal entity, the Client further represent and warrant that:
  1. The legal entity is duly organized and validly exists under the applicable laws of the jurisdiction of its incorporation.
  2. You are duly authorized by such a legal entity to act on its behalf and make transactions in the Account.
6. In addition, the Company reserves its right to restrict or prohibit the use of the services for certain jurisdictions if applicable law or our AML/CTF Policy procedures will require for such prohibition or restriction, as well as to apply enhanced due diligence measures in relation to persons currently registered or willing to register at the Website who are in, under the control of, or are residents, or nationals of one of the sanction risk Jurisdictions.
REGISTRATION AND USE OF THE ACCOUNT
1. To register the Account, the Client must provide the Company with the Client’s Account Data, as well as accept this Agreement. You agree to provide complete and accurate information when registering at the Website and agree to promptly update any information that you shall provide to the Company, ensuring such information is complete and accurate at all times.
2. Your Account is for your personal use only, and not for the use or access by any third party. In any event, you are fully responsible for all acts or omissions of any third party accessing and/or using your account.
3. Unless otherwise agreed separately between the Company and the Client in writing, each registration is for a single Client only, and any Client may only access the Website and its Account. Any breach of the mentioned requirement shall be treated as an essential breach of this Agreement. Should the Client be a person other than registered as such, this Client shall be allowed to act through its representative for the purpose of access to the Account.
4. Non-compliance with articles 4.1 - 4.3 will be considered a violation of this Agreement.
5. The Client is solely responsible for keeping, protecting, and safeguarding passwords and usernames (login) that have been provided by the Client in order to use Company’s services. If the Client loses the password and username (login), the Client may not be able to access the Account.
6. The Client agrees to notify the Company immediately of any unauthorized use of the Account. The Company will not be responsible for any liabilities, losses, or damages arising out of the unauthorized use of the Client’s Account.
ACCOUNT VERIFICATION
1. In order to use the services provided by the Company, the Client must register and complete Account verification procedures. The Client will be required to provide the Company with certain personal information, including, as applicable, the information and documentation associated with identity verification and other mandatory procedures as described in this Policy and other Company’s policies.
2. Our verification procedures include (for natural persons):
  1. Collection of Client Account Data that include full name, date of birth, contact information, e-mail address, phone number, etc.
  2. Identity verification. The Client must provide the Company with identification documents (e.g., passport, identity card, driver’s license). Such a document shall have a photo, signature, and validity period (that shall not expire earlier than 6 months after the verification). The Client must provide the Company with Liveness photo ID.
    Requirements for digital photos:
    1. Your photo must be:
      1. clear and in focus
      2. in color
      3. unaltered by computer software
      4. at least 600 pixels wide and 750 pixels tall
      5. at least 50KB and no more than 10MB
    2. Your photo must display the following:
      1. no other objects or people
      2. be taken against a plain, light-colored background
      3. be in clear contrast to the background
      4. not have ‘red eye’
      5. if you’re using a photo taken on your own device, including your head, shoulders and upper body. Do not crop your photo - it will be done for you.
    3. In your photo, you must:
      1. be facing forwards and looking straight at the camera
      2. have a plain expression and your mouth closed
      3. must be dressed in respectable plain clothing
      4. have your eyes open and visible
      5. not have hair in front of your eyes
      6. not have a head covering (unless it’s for religious or medical reasons)
      7. not have anything covering your face
      8. not have any shadows on your face or behind you
      9. do not wear glasses in your photo unless you have to do so. If you must
      10. wear glasses; they cannot be sunglasses or tinted glasses, and you must make sure your eyes are not covered by the frames or any glare, reflection, or shadow.
  3. Proof of residential address. The Client must provide the Company with the document supporting the Client’s residential address (e.g., utility bills, registration at the residential address, etc.). Such a document shall have the Client's name, address, and issue date not older than 3 months.
  4. Additional information for analysis of the Client activity within the framework of AML/CTF procedures.
3. Our verification procedures include (for legal entities):
  1. Verification information mentioned in article 5.2. for natural persons related to a legal entity.
  2. Company information that includes company name, company registration number, company contact information, etc.
  3. Company legal documents, such as Certificate of Incorporation, Memorandum and Articles of Association, documents confirming authorized person rights and ultimate beneficial owner (UBO) rights, etc.
  4. Additional information for analysis of the Client activity within the framework of AML/CTF procedures.
4. The Company shall carry out additional Client verification procedures, as well as enhanced due diligence performed by AML/CTF Policy and periodic analysis of the Client’s verification information.
PERSONAL DATA
1. Please refer to our Privacy Policy for information about how we collect, use and share your Personal Data.
TRANSACTIONS EXECUTION
1. The Company allows Clients to buy or sell digital currencies.
2. The transaction made in a Fiat Currency must be made from a financial institution account registered in the Client’s name or in the name of a person who is duly authorized by the Client to make a transaction or institution duly authorized to execute transactions in Fiat Currency.
3. The Company keeps a record of the transactions executed to/from the Account.
4. To make transactions into Account, the Client has to transfer Fiat funds or digital assets according to the payment details indicated by the Company in Account.
5. The Company has the right to request documentation to verify the source of funds of the transaction.
6. The Company shall withhold the fee specified in the Fees and Limits that posted on the Company's website for the rendered services.
7. The Company has the right to limit and/or restrict transactions for the Client as it may be necessary under the requirement of the Company’s policies or competent authorities. The Company is entitled to set and vary maximum and minimum limits at its own discretion. The Company shall not be liable for any preliminary notification of the Client with regard to such changes.
8. The Client acknowledges and agrees that if transaction details are not specified or are incorrectly indicated within the transaction, the Client may lose the funds.
9. The Client acknowledges and agrees transactions in Fiat currency may be delayed due to some bank verifications and checks. The Company does not guarantee the ability and availability to complete a transaction in a given time frame.
10. In some cases, the External Account may reject The Client’s Assets or may otherwise be unavailable to receive Assets. The Client agrees not to hold the Company liable for any damages resulting from such rejected transactions.
REFUNDS
1. We inform you that due to the nature of digital assets, all transactions executed in digital assets are final and irreversible. Assets executed through the Company Website are not eligible for a refund. Once you initiate a transaction with a digital asset, we process the transaction, so you cannot cancel it at any time.
2. The Client takes full responsibility for transferring Assets to the External Accounts.
3. In any case, the Company will not be held responsible for the Clients errors, including but not limited to errors in entering prices, errors in transactions, etc.
4. In exceptional cases, we may consider your refund request and decide at our own discretion. These exceptional cases are limited to severe payment delays, abnormal rate fluctuations, or any guilty actions of third parties.
5. Refund requests must be submitted within 3 working days of completing the original funding. The Client must submit a request to our customer support team on the Website.
6. If you choose an upload method using a payment method that may be subject to a right to claim funds back (a “Chargeback”) such as (but not limited to) credit or debit card or direct debit, you declare that you will not exercise such Chargeback other than for unauthorized use of the payment method or for a breach by us of these Terms of Use which would result in you having a right to a refund of the uploaded amount. Otherwise, you may not chargeback any upload transaction or allow a chargeback of any upload transactions for reasons for which we are not responsible, including (but not limited to) the following statements written above.
7. If the Client’s Assets have been successfully executed assets from the Account, you understand and agree that all transactions are final, and we will not be able to recover, reimburse, or restore any of your funds that are not on the Account.
TRADEMARKS
1. "EXBI," the EXBI logo, that may appear on our Services, are the registered trademark in EUROPEAN UNION INTELLECTUAL PROPERTY OFFICE and may not be copied, imitated, or used, in whole or in part, without our prior written permission. You may not use any trademark, product, or service name of EXBI without our prior written permission, including without limitation any metatags or other "hidden text" utilizing any trademark, product, or service name of EXBI. Reference to any products, services, processes, or other information by name or trademark does not constitute or imply endorsement, sponsorship, or recommendation by us.
CHANGES TO THE TERMS
1. The Company may update this Agreement by providing notice of such changes, such as by sending you an email or updating the “Last updated” date at the top of these Agreement. The Client agrees to such updates by continuing to access or use the services. If you do not agree to any updates to this Agreement, you must stop using the Services.
LIABILITY AND RESPONSIBILITIES
1. The company reserves the right to close your Account, terminate access to the Website, or access to the services for any reason and at any time, returning to you any funds clearly and unambiguously owed to the most recent contact information you have provided. You indemnify us against losses taken pursuant to the closure or returns of this Type.
2. The Client shall indemnify the Company and hold them harmless from and against all third-party claims except those resulting solely from the Company’s breach of the Agreement.
3. The Company is not responsible for any delays or failures in operation or transactions execution, nor for any damage suffered by you as a result of such delays or failures, directly or indirectly caused by any causes beyond our control.
4. The company reserves the right to suspend or block the Client’s Account, without prior notification in the following cases:
  1. Technical failures on the Website while providing services until their elimination, replacement, maintenance of the equipment and (or) software used by the Company for provision of services for the period necessary for replacement.
  2. Non-compliance with articles 4.1 - 4.3.
  3. In the case of suspicion that the Account is not used by the Client but by a third party, until the circumstances are clarified.
  4. In the case of additional verification procedures, as well as enhanced due diligence within the framework of AML/CTF Policy and procedures.
  5. The company reserves the right to terminate the provision of services to the Client by canceling the Agreement and/or blocking access to the Account in the following cases:
    1. In the case of non-compliance or violation of this Agreement.
    2. If there are no transactions on the Account for more than 12 months.
    3. If the Client does not provide information on his business operations upon the request of the Company or the information provided does not meet the Company's requirements.
    4. If it became known that the Client’s actions may adversely affect the Company's reputation.
    5. If the Company has reason to believe that the services are not used by the authorized person and the services are used for the benefit of third parties, which have not been identified by the Company.
    6. If the Client has not passed the necessary additional verification within 14 calendar days from the date of the receipt of the relevant request.
    7. In the case of the identification of Client transactions that contain signs of suspicious operation in accordance with international regulations and in accordance with AML/CTF Policy, and if the Company has suspicions that the operations are carried out in violation of the requirements of international regulations or are fraudulent in nature.
    8. In the case of the receipt of a relevant order from any law enforcement agency in cases of international legislation and applicable regulatory enactments.
    9. In the case of suspicion that the Client has carried out or has attempted to carry out fraudulent transactions.
    10. In the case of the expiration of the Clients identification documents up to the provision of relevant documents.
COMMUNICATIONS
1. We may record and monitor our telephone conversations with you and your electronic communications with us (chat, email, and other forms of electronic exchange). Unless the law requires otherwise, you consent in advance to such recording and monitoring, and we do not need to remind you of these activities. You must promptly notify us of any change in your contact information, including residential post and email address. Failure to notify us in a timely fashion may result in delay or non-receipt of notices or correspondence.
WAIVER
1. We may delay the exercise of any rights we have under these Terms, and any such delay shall not result in a waiver, relinquishment, or modification of any of our rights. If we delay in any exercise of our rights, or if notwithstanding the foregoing, EXBI somehow is deemed to have waived any of our rights, you are still obligated to pay us Obligations you may owe us, remove any violation of these Terms and/or otherwise follow our instructions (as applicable). Any delay or waiver of our rights applies only to the specific instance in which we decide to delay or waive the provision and does not affect our other or subsequent rights in any way.
FORCE MAJURE
1. We will not be liable for delays in processing or other non-performance caused by such events as fires, telecommunications, utility, or power failures, equipment failures, labor strife, riots, war, nonperformance of our vendors or suppliers, acts of God, pandemic or epidemic events, or other causes over which we have no reasonable Control.
CONTACT INFORMATION
1. If the Client has any questions or uncertainties regarding this Agreement, as well as claims or the provisions of the use of the Company's services, the Client may contact the Company's support team by emailing to [email protected]
FINAL PROVISIONS
1. The Agreement and any legal relationship arising out of this document shall be governed by and constructed in accordance with the laws of Lithuania. You agree to settle all their disputes arising out of or in connection with the Agreement in accordance with the laws of Lithuania.
2. The invalidity or unenforceability of any provisions of the Agreement shall not affect the validity or enforceability of any other provision of the Agreement, which shall remain in full force and effect.
3. You agree that Lithuanian laws, excluding conflict of laws provisions, will govern this Agreement and all matters arising out of this document. The parties expressly agree to the venue in courts located in Lithuania and waive any objection based on personal Jurisdiction.
4. All other matters not covered by this Agreement shall be governed by Lithuanian Law.