Terms of Service

These Terms of Use of the Service contain all the essential conditions and are a public offer addressed to any individual to conclude an agreement on the conditions set forth below.

1. General information

1.1. These Terms of Use of the Service (hereinafter referred to as the Terms) define the terms of use of the Service. Before starting to use the Service, the User is obliged to read the text of these Rules and agree with them.

1.2. If the User does not agree with any provision of these Rules, the User must refuse to use the Service.

2. Terms and concepts

Terms and concepts in these Rules are used in the following meanings:

2.1. The BUYBank Service/Service is a semi-automatic Internet-based service at https://buybank.io/ (hereinafter referred to as the Site) and offering its services through a special software interface for all Users.

2.2. User is a visitor to the Site who wishes to use the Service and has submitted an Application for an exchange operation.

2.3. Contractor is the site administration that provides the User with the service of exchanging virtual assets.

2.4. Virtual assets are an intangible good that is an object of civil rights, has a value and is expressed as a set of data in electronic form.

2.5. Services are services for the exchange of virtual assets for cash or non-cash fiat funds, as well as the exchange of fiat funds for the equivalent of virtual assets through the use of the Site.

2.6. Application is a set of data received from the User by filling out an electronic form on the Site, that contains sufficient information about the exchange operation and confirms the User's intention to use one of the Service on the terms described in these Rules and specified in the parameters of this Application.

2.7. An exchange operation is the transfer of virtual assets for a certain number of property rights at an agreed cost between the User and the Contractor.

3. Subject of the agreement

3.1. These Rules determine the procedure for accessing the Services, their use, as well as providing the User with the opportunity to exchange virtual assets and fiat currencies.

4. Procedure for the provision of services

4.1 The Contractor provides the Site for the exchange of various types of virtual assets, the current list of exchange directions and exchange rates for virtual assets are presented in the calculator on the Site.

4.2. Applications for exchange operations are accepted exclusively through the Site and are recorded by the Site's software and hardware.

4.3. The processing of User Applications is carried out by the Service in strict accordance with these Rules, the Exchange Regulations, the Privacy Policy and the Anti-Money Laundering and Prevention of Unlawful Operations (AML/KYC) Policy presented on the Site.

4.4. When submitting an Application, the User undertakes to indicate reliable data in the Application, in case of failure to comply with this requirement, the Application may be canceled by the Contractor unilaterally.

4.5. In the User's Application created on the Site, the exchange direction, the Service commission, account details and the amount given by the User are fixed. The rate on the Site is preliminary, fixing the rate on the Application is not possible. Fixing the course on the Application occurs:

• for the User's purchase of virtual assets - after the transfer of non-cash fiat funds to the account of the Service (after receiving confirmation of a successful payment from the payment system) or the actual recalculation of cash fiat funds at the cash desk;
• for the User's sale of virtual assets - after the virtual asset is actually credited to the exchange (2-4 confirmations) under the sale order.

4.6. After confirming the Application, the User within 1 hour must complete the transfer of virtual assets or the transfer of fiat funds in full amount according to the Application to the account of the Contractor and exclusively in the manner specified in the Application.

4.7. If the payment is not received from the User according to the Application within 1 hour from the moment of confirmation of the Application by the Service, and if the User has not contacted the Service to agree on other terms, the Application is considered canceled, and the agreement on the terms specified in the Application may be changed by the Service unilaterally.

4.8. Upon receipt of virtual assets under the Application for the Service wallet, the Contractor transfers funds to the User's account specified in the Application. To receive cash fiat funds, the User will be provided with the code and coordinates of the point of issue.

4.9. If virtual assets were sent by the User to the Service wallet during non-working hours, a weekend or a holiday, then the transfer of cash fiat funds to the User is performed on the first business day after the deposit.

4.10. Upon receipt of fiat funds in favor of the Service, the Contractor transfers virtual assets to the User's wallet specified in the Application.

4.11. The application is considered completed at the moment when the Contractor has fully fulfilled its obligations to the User, namely:

• The Contractor sent virtual assets to the User's wallet, the transfer of virtual assets was displayed in the transaction monitoring network and received 2-500 confirmation(s) (depending on the type of digital asset);
• The Contractor transferred cash fiat funds or sent non-cash fiat funds to the User's account.

4.12. The exchange operation under the Application is a one-time operation. After the exchange is completed, it is impossible to return the transferred funds.

4.13. If virtual assets are received by the Service from the User in an amount different from that specified in the Application, the Service should consider this as an instruction from the User to recalculate the Application according to the amount of the virtual asset actually received.

4.13.1. At the same time, if the number of received virtual assets was less than the Service commission corresponding to the exchange parameters of such an amount, then such a deposit is considered lost and is not subject to payment or return.

4.14. If virtual assets were sent by the User to the Service's wallet in a network that is different from the network of the virtual asset in the Application, then such a deposit is considered lost and is not subject to payment or return.

4.15. If the virtual assets were sent by the User not to the wallet provided by the Contractor for a specific Application, but to one of the wallets for previous exchanges carried out by the User, such a deposit is considered lost and is not subject to payment or return.

4.16. If the Service fails to fulfill its obligations to the User to send the cash equivalent to the account specified by the User within 24 hours from the moment the User confirms payment for the Application, and if there are no reasons to block the virtual assets received by the User's Application from the Service, the User may demand termination of the agreement by canceling of his Application and the return of virtual assets to the sender's wallet from which the withdrawal of virtual assets was made.

4.16.1. In this case, if the failure of the Service to fulfill its obligations was caused by reasons beyond the control of the Service (lack of connection to the payment system server, other technical problems), the funds will be returned to the User no earlier than the cause of the problem is eliminated.

4.16.2. The request to cancel the Application can be executed by the Service only if the monetary equivalent has not been sent to the User's account at the time of receipt of such a request.

4.16.3. In case of cancellation of the Application, the return of virtual assets is made by the Service to the sender's wallet within 24 hours from the moment of the cancellation request. The Service is not responsible for possible delays in the return, if they arose through no fault of the Service.

4.17. When purchasing virtual assets with a bank card, the User must confirm that the card is valid and belongs to him. If the User fails to confirm the validity of the card, the transaction will not be completed and the funds will be returned to the card minus the fees charged by the payment system. Using the Site for the exchange of virtual assets, the Client agrees to verify his bank card and provide all necessary documentation to the Contractor upon request.

4.18. The Service has the right, at its discretion, to refuse to provide the User with services without explanation.

4.19. The Service has the right to cancel the Application and return to the User previously deposited virtual assets and/or fiat funds without explanation.

4.20. The Service has the right to refuse the User further service in case of violation by the User of any of the paragraphs of these Rules.

4.20.1. If the Service refuses to further service the User, the Service notifies the User of its decision via e-mail or Telegram chat, after which it freezes the User's account and all current User Applications. If there are no reasons for blocking virtual assets received by the User's Application(s) from the Service, the Service returns the virtual assets received by the User's Application(s) to the sender's account within 24 hours from the moment of refusal.

4.20.2. All commission expenses for the transfer of a virtual asset when making a return are carried out from the funds received at the expense of the User. The Service is not responsible for possible delays in the return, if they arose through no fault of the Service.

4.20.3. All subsequent Applications created by the User after the Service refuses to further service the User are automatically frozen. Accounts associated with these Applications are blocked.

5. Cost of services

5.1. The Service Commission is set by the Service administration and is taken into account in the rate of the virtual asset in the chosen direction of exchange on the Site.

5.2. The Service has the right to independently change the exchange rates of virtual assets and charged commissions at any time unilaterally without prior notice to the Users, with the exception of Applications made no later than 1 hour before the occurrence of such changes.

5.3. The rate on the site takes into account the rate of the virtual asset on the cryptocurrency exchange and includes the Service commission.

5.4. The Service Commission is charged from the amount given by the User.

5.5. The Service Commission may vary depending on the direction of exchange, virtual asset, amount and city of exchange.

5.6. The Service charges its commission at the time of the corresponding Exchange Operation.

6. Limitation of Liability

6.1. The Service provides its services on an "as is" basis, as they are described on the pages of the Site, in particular in exchange directions for which unique conditions for transactions apply.

6.2. Using the Service, the User guarantees that he knows the basic principles of working with virtual assets, as well as the characteristics of virtual assets that affect their value.

6.3. Using the Service, the User guarantees that he is at least 18 years old and capable in accordance with the current legislation of Ukraine.

6.4. Using the Service, the User agrees that the scope of the Contractor's liability is limited to the funds received from the User for the execution of the subject of this agreement, that the Service does not provide additional guarantees and does not bear any additional responsibility to the User, just as the User does not bear additional responsibility to the Service, except for the cases specified in clause 6.11.

6.5. The Contractor will make every effort, but does not guarantee that the operation of the Site and/or the Service will be uninterrupted or error-free. The Contractor does not bear any responsibility for losses, unearned profits and other costs of the User resulting from the impossibility of obtaining access to the Site and the services of the Service.

6.6. The Contractor does not give any investment advice and does not make any recommendations regarding the purchase or sale of any virtual assets. The User is solely responsible for any investment decisions he makes using the Service.

6.7. The Contractor does not bear any responsibility for losses, lost profits and other costs of the User resulting from delays, errors or failures in making bank payments or electronic transfers.

6.8. The Contractor does not bear any responsibility for losses, unearned profits and other costs of the User, resulting from the User's erroneous expectations regarding the remuneration of the Service, the profitability of transactions and other subjective factors.

6.9. The Service does not bear any responsibility for any adverse consequences or damage resulting from the improper use of the Service, as well as due to errors made by the User when filling out the Application form, which may lead to the transfer of funds to the erroneously specified account.

6.10. Using the services of the Service, the User is solely responsible for the payment of taxes in accordance with the tax legislation of the country at his place of residence. The Service is not a tax agent and will not notify the User of any possible tax costs when using the services of the Service.

6.11. The User guarantees indemnification of the Service (the management company, managers and employees) in cases of claims or claims directly or indirectly related to the User's use of the Service, with the exception of losses caused by the guilty (intentional or negligent) actions of the Service itself.

6.12. The User confirms that he legally owns and disposes of the fiat money and virtual assets involved in the exchange. This may require confirmation of the legality of ownership of the User's funds. In case of refusal or unsuccessful confirmation of the legality of the possession of funds, the User's funds may be blocked.

6.13. The User undertakes to refrain from using the Service to conduct fraudulent and illegal transactions and agrees that any attempt to exchange fraudulent capital will be prosecuted to the fullest extent of the law. The actions of the User may be considered illegal in accordance with the laws of the country of residence of the User and/or the country where the Service is registered.

6.14. The User undertakes not to falsify communication flows related to the operation of the Service, not to interfere with its software and / or hardware, and not to exert any other influence that could disrupt the normal operation of the Service, understanding that such actions will be subject to prosecution throughout the severity of the law.

6.15. In case of detection of falsification of communication flows or any negative impact on the normal operation of the program code of the Service, which is directly or indirectly related to the User's application, the execution of the application by the Service is suspended, after which the actions described in clauses 4.20-4.23 of this agreement are taken .

6.16. The User acknowledges that the content of the Service website is protected by the laws on the protection of property rights, intellectual property and copyrights. Unauthorized use of this content is illegal.

7. Force majeure

7.1. In the event of force majeure circumstances, the Service's performance of its obligations under this agreement will be suspended for the duration of the event. The Contractor will make commercially reasonable efforts to minimize the impact of the event and resume performance of its obligations as soon as possible.

7.2. The Service is not responsible for any damage resulting from force majeure, except as provided by law.

7.3. The Service will immediately notify the User of the occurrence of force majeure circumstances. The User agrees that he will cooperate with the Service in all reasonable ways to minimize the impact of the event.

7.4. Any dispute arising out of or relating to this Force Majeure clause will be resolved in accordance with the dispute resolution procedure set out in these Rules.

8. Procedure for accepting claims and resolving disputes

8.1. Disputes and disagreements that have arisen in the framework of the provision of services by the Service to the User are resolved through negotiations between the User and the administration of the Service based on the provisions of these Rules.

8.2. The User's claims regarding the operation of the Service are accepted by the Service administration for consideration by e-mail and no later than 3 working days from the date of the claim. The term for consideration of the User's claim is 10 working days.

8.3. Consideration of claims related to the operation of the Service is carried out upon presentation by the User of the relevant documents confirming the payment and the data of the Application.

8.4. If it is impossible to resolve the dispute through negotiations, the dispute is resolved in accordance with the current legislation at the place of registration of the Service.

9. Final provisions

9.1. The Service has the right to unilaterally make changes and additions to these Rules. Changes to the Rules come into force from the moment they are published on the Site. The Service Provider is not obliged to additionally notify the User about changes and additions to these Rules. The use of the Service after the publication of changes and additions to the Rules on the Site indicates the User's consent to these changes and additions.

9.2. In the event that any of the provisions of these Rules is recognized as invalid by any competent state body of Ukraine, this will not affect the validity or the possibility of fulfilling any other conditions of these Rules, which remain fully valid, unless otherwise provided by the legislation of Ukraine.

9.3. The right to use the technical capabilities of the Service does not grant the User any intellectual property rights to the Service as a whole, as well as to the objects associated with it.

9.4. All funds for Applications received from Users who are residents of the Russian Federation and the Republic of Belarus will be automatically frozen, without refund, of the funds sent.