Agreement for use of the "Capitalist" system of order execution

1. General Provisions

1.1. Prior to using the services of the Capitalist system (hereinafter referred to as the System), the CLIENT must familiarize itself with the Agreement for use of the "Capitalist" system of order execution (hereinafter referred to as the Agreement). In case of a user does not accept the System operation rules, he shall not be entitled to use the System. The Client is obliged to read and accept the terms and conditions hereof. The Agreement may be changed at any time unilaterally without additional notices. The updated edition of the Agreement is published on the website https://capitalist.vc/ (hereinafter referred to as the Website) and is offered to the Client for familiarization on a mandatory basis before it starts using the service.

1.2. The present document determines the terms and conditions of execution of orders in terms of transferring electronic title signs at using the System, and is an official written public offer addressed to physical and legal persons (hereinafter referred to as the Clients) for providing the possibility of using the System under the terms and conditions hereof. This Agreement also states the rights and obligations of the parties.

When mentioned jointly herein, "Capitalist Inc." (hereinafter referred to as the Owner of the System) and the Client shall be called the Parties, and each of them separately shall be called the Party.

The Owner of the System is Capitalist Inc., a company registered under the legislation of the British Virgin Islands, the Head Office located at: Geneva Place, Waterfront Drive, PO Box 3469, Road Town, Tortola, BVI.

Each Party guarantees to the other Party that it has necessary legal capacity as well as all rights and powers necessary and sufficient for conclusion and fulfillment of the Agreement under its terms and conditions.

1.3. All actions and operations committed within the framework hereof are irreversible.

2. Terms and Definitions

Authentication — identification of the Client's person. Authentication is made based on the login and the password of the Client (hereinafter referred to as the Authentication Data).

Authorization (signature) of an Operation — confirmation by the Client of an operation in the System using Authorization Means. Authorization Means include a personal key, a one-time SMS password, and a password in the table of authorization codes.

Account Blocking — temporary prohibition of execution of any operations with an account.

Account Closing — constant prohibition of execution of any operations with an account.

Identification — the procedure of submission by the Client of the data necessary for its identification. Depending on completeness of the provided data, the Client shall be assigned a certain status in the System. The status determines the range of operations available for the Client, as well as rates and limits applied to operations of the Client. The updated list of rates and limits is published on the Website.

Registration — the Identification variety, at which the Client gives minimum necessary data for identification in the System.

Client — a physical or legal person, which has accepted the terms and conditions hereof and uses the System with the purposes stipulated herein.

Access Loss — loss by the Client of the possibility to access its accounts by any reasons (including at transferring the Authentication Data to third parties or wrongful obtaining by third parties of the Authentication Data).

Control Loss — loss by the Client of the control over operations with its accounts due to any reasons (including at transferring of Authorization Means to third parties or wrongful obtaining by third parties of the Authorization Means).

Outgoing Order — an executed order of the Client for transferring title signs from the System account to another account within the System, or to an account within another service, in which address the System allows to accept Outgoing Orders.

Incoming Order — arrival to the account of the Client from another account within the System, or from an account of another service, from which the System allows to receive Incoming Orders.

Fee — remuneration charged by the System from the account of the Client for a completed order in compliance with the rates – the special list of fees published on the Website (hereinafter referred to as the Rates).

Operator's Control — control over Outgoing Orders falling under certain limitations from the person authorized by the Owner of the System with the purpose of rejection of the order in case it suspects the System hacking, order falsification, Control Loss, or suspicions about the illegal nature of the order.

Actual Account Balance — current account balance taking into account performed Incoming and Outgoing Orders on the given account.

Available Account Balance — current account balance taking into account Incoming and Outgoing Orders being processed (authorized and passed the Operator's Control (if necessary)) and performed on the given account.

Account Balance Available for Orders — current account balance taking into account all orders authorized by the Client including orders that have not yet passed the Operator's Control.

Website Mirrors — addresses of websites, one of which is to be used by the Client to access the account in case of inaccessibility of the main Website due to any reason.

Subject of the Agreement

3.1. This Agreement determines terms, conditions, and order of rendering the following services to the Client by the Owner of the System:

3.1.1. Opening an account in the System for the Client;

3.1.2. Receiving Incoming Orders;

3.1.3. Executing Outgoing Orders;

3.1.4. Executing other operations using the System in the scope provided hereby.

3.2. Servicing the Client is performed on the 24 hours / 7 days a week basis. Actions taken in pursuance hereof, which are fulfilled in non-automatic mode (including the Operator's Control and the support desk operation), are committed by the Owner of the System according to the schedule published on the Website. The Owner of the System shall notify the Client about planned technological breaks in the System operation or a certain service of the System as well as the time it resumes full-scale rendering of the services by any method the Owner of the System deems appropriate.

4. Account Opening and Order of its Use

4.1. After the Client has passed the Registration procedure, the Owner of the System shall provide the Client with the opportunity to open an account in one of its types: nominal in dollars, nominal in euros, nominal in rubles.

4.2. Further, the Client can submit additional data and pass the Identification procedure again. The Client is obliged to provide the Owner of the System with valid and exact identifying information. According to the results of the Identification procedure, a certain status in the System is assigned to the Client.

4.3. Based on the assigned status, respective rates and limits published on the Website are applied to the operations of the Client.

4.4. Access to the account and execution of any orders on the account are possible after Authentication of the Client.

4.5. The Authentication Data for Client (the login and the password) are formed by the Client unassistedly. The password can be changed at any moment and an unlimited amount of times.

4.6. After the registration, if the Client intends to execute orders, it shall create one of the Authorization Means offered by the System. Further, at its own the discretion, the Client can enquire Authorization Means of another type using the received Authorization Means for request confirmation. Authorization Means are activated only after confirmation by the Client of the fact of obtaining of these Authorization Means.

4.7. The Client assumes full responsibility for keeping the Authentication Data and Authorization Means confidential. Any actions in the System committed using correct Authentication Data and Authorization Means shall be admitted committed by the Client. The Client guarantees to the Owner of the System indemnification and no liability for trusting the Client's operations authorized with the Client's Authorization Means.

4.8. In case of Access Loss due to password loss or compromise by the Client, the Owner of the System shall provide the Client with the opportunity to recover access to the System in the following ways:

4.8.1. By inputting the recovery code transmitted to the Client in the form of an SMS message to the mobile phone number (in case the Client has registered such a number in advance) or forwarded to the email address specified by the Client at registration;

4.8.2. By application to the support desk (only for Clients that passed the re-Identification procedure after Registration).

4.9. In case of Loss of Control over the account by the Client, the Owner of the System shall provide the Client with the opportunity to recover the access to operations on the account in the following ways:

4.9.1. If active Authorization Means are available – by confirmation of the request for release of new Authorization Means using the effective Authorization Means of the Client (at that, at a time for each type of Authorization Means there can be only one active Authorization Means of the given type; thus, when released, new Authorization Means replace the old Authorization Means of the same type if present);

4.9.2. By application to the support desk (only for Clients that passed the re-Identification procedure after Registration).

4.9.3. Otherwise as agreed by the Owner of the System and the Client.

In case Authorization Means are restricted by validity (for a personal key – 1 year, for the authorization codes table – after all codes have been used), the Client shall obtain new Authorization Means before expiration of their validity.

4.10. At Client's application to the support desk, the Owner of the System shall be entitled to refuse recovering access to the System or the account for the Client if the Client provides data for the access recovery different from those the Owner of the System received at Identification of the Client.

4.11. The Owner of the System shall be entitled to Block or Close an Account of the Client at the initiative of the Client or at its own initiative.

4.12. At the initiative of the Client, Blocking or Closing of an Account of the Client shall be performed at any moment based on the notification received from the Client forwarded to the Owner of the System in one of following ways:

4.12.1. Through the System interface;

4.12.2. Through application to the support desk by phone provided the identification data have been verified;

4.12.3. Otherwise as agreed on by the Owner of the System and the Client.

4.13. Otherwise as agreed on by the Owner of the System and the Client.

4.13.1. In case the Owner of the System has suspicions in violation by the Client of the order of using the account as stated by Clause 4.15 hereof;

4.13.2. In case the Owner of the System needs to ensure security of the Client's orders, access to which is performed with the account, which the Owner of the System suspects to be accessed without authorization;

4.13.3. In case of existence of non-standard or unusually complex schemes of orders execution, which are different from the normal order typical of the Client;

4.13.4. In case the Owner of the System fulfills respective legal requirements in force in the jurisdiction of the Owner of the System;

4.13.5. In case title signs have been transferred to the account based on an Incoming Order, which title signs were sent as a result of unauthorized access to the payer's account. In case an identified Client, whose account has been blocked based on the present sub-Clause 4.13.5, has other accounts, the Owner of the System shall be entitled to Block or Close these accounts.

4.13.6. In other cases provided the Owner of the System deems it necessary.

4.14. Account Blocking or Closing shall be followed by termination of all orders on this account. In case of Account Blocking or Closing at the initiative of the Owner of the System, the Client shall be entitled to appeal to the support desk for initiation of additional investigation of the facts, which incurred the Closing.

4.15. The order of account use:

4.15.1. At using an account, the Client shall observe the legislation of the jurisdiction of the Client as well as the legislation of the jurisdiction of the Owner of the System, the terms and conditions hereof, the rights and the legitimate interests of the Owner of the System and of third parties;

4.15.2. The Client shall use the account only by itself. The Client shall not be entitled to report or otherwise transfer its Authentication Data and Authorization Means to third parties;

4.15.3. The Client shall ensure storage of the Authentication Data and the Authorization Means in a manner preventing any possibility for third parties to obtain access to them; in particular, it shall not write down the data so that it would be possible to determine what this data relate to, and shall not save these data in an open form. The Client shall independently take all necessary measures to ensure confidentiality, prevent unauthorized use, and protect the account from unauthorized access by third parties.

4.15.4. Before using the Authentication Data or the Authorization Means, the Client shall make sure that it is not watched including using surveillance equipment;

4.15.5. Before entering the password and logging in the System, the Client shall make sure that:

a) the connection with the Website has been set using the https protocol;

b) in the URL string of the used browser, exactly the URL of the Website is specified;

c) the SSL-connection certificate has been verified and relates to the Website;

4.15.6. The Client shall not use computers of other persons or other devices to access the account;

4.15.7. The Client shall ensure anti-virus protection of the device used for accessing the account;

4.15.8. The Client shall not be entitled to use the account for committing illegal deeds;

4.15.9. The Client shall not be entitled to commit any deeds, the purpose or result of which is infringement of normal operation of the hardware and the software of the Website and other hardware owned by the Owner of the System;

4.15.10. The Client shall not be entitled to use any means of automated access to the System unless otherwise is agreed on with the Owner of the System.

4.16. Use of Authorization Means by the Client for forwarding Outgoing Orders to the Owner of the System is admitted by the Parties an appropriate and sufficient method of identification of the Client, and confirmation of authenticity and integrity of the forwarded electronic document.

4.17. In case any disputes on availability and/or authenticity of confirmation of an Order with the Authorization Means arise, the burden of proof shall be assumed by the Party disagreeing with availability of confirmation of the Order with the Authorization Means and/or authenticity of confirmation of the Order with the Authorization Means, accordingly.

4.18. In case any disputes relating to the fact of modification of the Outgoing Order after its signing (confirmation) with the Authorization Means arise, the burden of proof shall be assumed by the Party stating that changes have been made to the Order.

4.19. In case any disputes relating to the fact of modification of the Outgoing Order after its signing (confirmation) with the Authorization Means arise, the burden of proof shall be assumed by the Party stating that changes have been made to the Order.

4.20. In case any disputes between the Parties with respect to use of the Authorization Means arise, the Owner of the System shall use the software, which has been used for formation of confirmation with the Authorization Means, and which is used for its verification, and shall take the decision on the authenticity of the confirmation. The Client shall be entitled to contest such a decision judicially.

5. Terms and Conditions of Orders Execution

5.1. The Owner of the System shall receive Outgoing Orders from the Clients for fulfillment of the Client's obligations to third parties.

5.2. Obligations of the Owner of the System hereunder shall be limited to rendering the services related to execution of orders. The Owner of the System is not a Party of a transaction concluded between Clients and/or Clients and recipients of Clients' orders, and, accordingly:

  • shall not regulate and supervise compliance of the transaction with the requirements of the law and of other legal acts, its conditions, as well as the fact and consequences of conclusion, execution, and termination of the transaction, including concerning return of title signs under such a transaction;
  • shall not consider claims of the Client concerning non-fulfillment (undue fulfillment) of orders by recipients and their obligations under the transaction;
  • shall not bear any responsibility under any disputable issues arising between Clients.

5.3. The Owner of the System shall be entitled to charge the Fee from the Client at execution of orders. The Fee of the Owner of the System stated by this sub-Clause shall be determined in compliance with the rates published on the Website.

5.4. The Client shall be entitled to execute Outgoing Orders within the Account Balance available for operations and according to its status in the system of limits published on the Website.

5.5. The Owner of the System shall be entitled to dismiss an Outgoing Order in case the Client has not confirmed it within the stated interval specified on the Website. Thus, the title signs of the Client reserved by this order shall be released for new Outgoing Orders, and the Account Balance Available for operations becomes equal to the Available Account Balance.

5.6. If it is necessary to exchange title signs for execution of an Outgoing Order, the Owner of the System shall exchange them at the rate set in the System. The initial order amount and the resulting amount with account of the exchange rate are displayed in the System at creation of the Outgoing Order provided such an order requires the exchange. Exchange rate is updated in the System on a daily basis.

5.7. When registering Incoming Orders to the System from a third party payment (transfer) expressed in monetary or physical form irrespective of the qualification and the form of the subject, or payment from an exchange service, the Client shall register the order assignment in a certain manner as specified on the Website, specifying the account number to which the transfer should be made.

5.8. When an Incoming Order to the System is registered by third parties to the account of the Client, the Client shall obtain all rights and assume all obligations with regard to the title signs credited into the account. Such actions of third parties shall be treated by the Parties as made by the appropriate third party in favor of the Client.

5.9. The Owner of the System shall be entitled to reject an Incoming Order from a third party payment (transfer) expressed in monetary or physical from irrespective of the qualification and the form of the subject, or payment from an exchange service, and return the title signs to the sender of the order with the Fee deducted in case of suspicion on fraudulent or other illegal nature of the operation.

5.10. The Client agrees that all orders initiated and confirmed by the Client shall be finite and irrevocable. The Client understands and acknowledges that it knows about irrevocability of orders.

5.11. The information on the transfers performed by the Client shall be recorded and stored by the Owner of the System during the validity term of this Agreement and three years after the date of its termination. Storage of the specified information over the specified period shall be performed at the discretion of the Owner of the System.

5.12. The actions of the Client targeting the change of the Actual Account Balance confirm its consent with the amount of the Actual Account Balance, the information on which is registered in the System at the moment precedent to the respective actions of the Client.

5.13. Reduction of the Actual Account Balance shall be performed indisputably (without the Client's order):

5.13.1. For the amount of the remuneration subject to payment by the Client according to the Rates;

5.13.2. For the amount of forfeit (fine, penalty fee) stipulated herein (including rates for or conditions of rendering additional services) and/or other documentary confirmed expenditures of the Owner of the System incurred in the result of rendering the services to the Client hereunder;

5.13.3. At levying an execution upon the balance (its part) of title signs on the account in the procedure prescribed by the law of the jurisdiction of the Owner of the System;

5.13.4. For the amount wrongly credited by the Owner of the System into the account of the Client;

5.13.5. For the amount of indemnity of the Owner of the System to the Applicant – with regard to the balance (its part) of the title signs accounted on the account, Blocking or Closing of which has been carried out by the Owner of the System according to sub-Clause 4.13.5 hereof in case the Owner of the System has taken the decision to reimburse to the Applicant the amount of the transaction committed without the consent of the Applicant;

5.13.6. In other cases as agreed on by the Parties. Provisions of sub-Clauses 5.13.1.–5.13.6. of this Clause shall have the effect of the previously issued Client's acceptance for decreasing the balance title signs amount of the Client under a demand of the recipient of title signs, including the Owner of the System, declared under any of the bases stipulated in the present clause.

5.14. The Owner of the System shall have the right to limit the list of recipients of Outgoing Orders. Restrictions can be caused, in particular, by the information on fraudulent or other illegal activity of such recipients.

5.15. Finality of an order occurs at the time of reduction of the Actual Account Balance of the payer's account and increase of the Actual Account Balance of the recipient's account.

5.16. The order and terms of return of the balance amount of title signs on an account:

5.16.1. The Client shall be entitled at any moment to carry out return of the available account balance title signs in the System by execution of an outgoing remittance;

5.16.2. The Owner of the System shall be entitled to charge remuneration for remitting title signs at returning the balance amount;

5.16.3. Return of the balance title signs on an account can be made at the initiative of the Owner of the System in cases of repudiation by the Owner of the System of the present Agreement unilaterally with simultaneous termination of the account use. In this case, the return shall be made to the banking details coordinated with the Client.

6. Rates

6.1. The Owner of the System shall charge the Fee from the Client for rendering services hereunder; the Fee rate is set in the rates published on the Website. The rate applicable to the Client shall be determined according to its status in the System and visually highlighted in the rates grid.

6.2. The Owner of the System shall be entitled to unilaterally change (increase, reduce) in full or in part, or to cancel the existing rates or to set new rates. At that, the specified changes shall come into force on the date of publication of the specified changes on the Website of the Owner of the System.

6.3. In case the Client disagrees with new rates, it shall be entitled to repudiate this Agreement unilaterally.

7. Order of Informational Interaction of the Parties

7.1. At concluding the present Agreement, the Client shall be obliged to provide the Owner of the System with trustworthy information for communication with the Client. The Client shall be responsible for keeping the specified data updated at all times.

7.2. By default, the due method of communication with the Client is the forwarding information to the email address provided by the Client at Registration.

7.3. The Owner of the System shall enable the Client to notify the Owner of the System about Loss of Access to or use of the account without the consent of the Client by methods specified on the Website. Such notification shall be forwarded to the Owner of the System immediately after the Client becomes aware of the fact of Loss of Access to and/or use of the account without the Client's consent. The Owner of the System shall not be responsible for the Client's inability to access the title signs or the Authorization Means, using which the Client can send a notification, or for untimely forwarding of the notification, including for failures in the serviceability of the Internet, communication networks, and for other failures arising due to the reasons beyond the control of the Owner of the System, which incur untimely receipt or non-receipt of the Client's notifications specified in this Clause.

7.4. The Owner of the System shall be entitled to forward at its own discretion to the Client any notifications concerning the subject hereof (including those causing legal implications), replies to applications, claims, and other appeals, by one of following methods:

7.4.1. By forwarding an email message to the email address of the Client provided in compliance with Clause 7.2 hereof and/or specified by it in any written application received by the Owner of the System in advance.

7.4.2. By sending an SMS to the phone number provided by the Client through the System and/or specified by the Client in any written application previously received by the Owner of the System.

7.4.3. By posting a message on the Website;

8. Consideration of Applications of the Client and Dispute Resolution

8.1. At fulfillment of the Agreement, the Client shall be entitled to forward to the Owner of the System notifications, requests, claims, applications, complaints, and other appeals, whether or not stipulated herein, by one of following methods (unless otherwise is provided herein):

8.1.1. Using the application form published on the Website.

8.1.2. By forwarding an appeal to the address of the support desk specified on the Website.

8.2. All disputes and disagreements, which have arisen or can arise from this Agreement at the initiative of the Client, are subject to resolution with observance of the extrajudicial dispute resolution order. In case the arisen dispute is not settled within 60 (sixty) business days of the day of receipt of the Client's claim, either Party shall be entitled to apply to a court at the jurisdiction of the Owner of the System for settlement of the dispute. Within this Agreement, a Claim shall be understood as an appeal of the Client (its representative who has produced duly executed authorization to represent the interests of the Client at interaction with the Owner of the System) forwarded in compliance with Clause 8.1 hereof to the Owner of the System, bringing the Client's legal claims to the Owner of the System in view of existing, to the opinion of the applicant, non-fulfillment (undue fulfillment) of obligations to this Client by the Owner of the System arising from the present Agreement.

8.3. After receipt of the Client's written application, including claims, the Owner of the System shall be obliged to consider the application and to report the results of its consideration to the Client within 60 (sixty) calendar days of the date of the application receipt.

8.4. The response to the Client's application (including Claims) shall be forwarded to the Client by one of the methods stated in Clause 7.4 hereof at the discretion of the Owner of the System. In case the decision is taken to satisfy the claim in full, the Owner of the System shall be entitled to take appropriate actions without forwarding the reply to the applicant about satisfaction of the Claim.

9. Confidentiality

9.1. The Owner of the System guarantees and ensures confidentiality of the information on the Client and operations executed by it. At carrying out operations, all information shall be transferred from the Client to the servers of the Owner of the System via a protected encrypted channel.

9.2. During rendering the services to the Client, the Owner of the System can collect and save information on the Client, such as IP addresses, parameters of the browser, and other data necessary for preventing unauthorized access to the account by third parties.

9.3. Disclosure of information on the Client and its Operations shall be only allowed if demanded by authorized public authorities, representatives of payment systems, or under a legal precept.

9.4. The Owner of the System shall not store scanned images including copies of passports and other documents transferred to it by the Client on the server of the Website and the Website Mirrors.

9.5. The Owner of the System shall not store the password of the Client in the form of plain text. None of the employees of the Owner of the System shall be entitled to inquire the Client's password.

10. Other Rights and Obligations of the Parties

10.1. Rights of the Owner of the System:

10.1.1. To refuse executing operations available only to Clients with certain status if the Client has not passed Identification necessary for obtaining this status;

10.1.2. To refuse executing an operation in case of detection of an error admitted by the Client at specifying its details;

10.1.3. To refuse executing an operation if the Client has not passed authentication in the System by means of the Authentication Data or other method agreed on by the Parties;

10.1.4. To refuse executing an operation if the account balance is insufficient for executing the operation and debiting the Fee as per the rates;

10.1.5. In cases stipulated herein, to Block or Close the Account;

10.1.6. To refuse executing an operation in case the Client has not passed the necessary Identification set by the System or as it requires;

10.1.7. To modify interfaces and software used at interaction of the Parties within the present Agreement;

10.1.8. To suspend operation of software and/or hardware, which are used for technical interaction of the Parties within the present Agreement, at detection of major failures, errors, and malfunctions, as well as with a view of carrying out preventive works and preventing unauthorized access;

10.1.9. To set and change (increase or reduce) restrictions (limits) on execution of operations with an account unilaterally. The information on such changes shall be published on the Website. Changes shall come into force at the time of their publication on the Website;

10.1.10. To reduce the Client's balance amount of title signs without being instructed by the Client in cases stipulated herein;

10.1.11. To process with a view of the Agreement fulfillment personal data of the Client provided by the Client personally at conclusion of the present Agreement or within its validity;

10.1.12. To perform other actions targeting ensuring serviceability of the System;

10.1.13. At any moment, to prohibit earlier allowed automatic formation of orders for an account as well as to cease receiving any information generated automatically;

10.2. Obligations of the Owner of the System:

10.2.1. To notify the Client about amendment hereof by publication of such a notification on the Website;

10.2.2. To take measures for preventing unauthorized access by other persons to the information about the Client's account and operations executed with the account;

10.2.3. To take measures for preventing unauthorized access by other persons to the personal information received at Identification of the Client;

10.2.4. To fulfill other obligations stated hereby.

10.3. Rights of the Client:

10.3.1. To use its account according to the order stated hereby;

10.3.2. To raise claims to the Owner of the System and to forward other applications in the order and in cases provided for hereby;

10.3.3. To repudiate this Agreement unilaterally in case the Client has no debt to the Owner of the System.

10.4. Obligations of the Client:

10.4.1. Not to report or otherwise transfer the Authentication Data and the Authorization Means to other persons;

10.4.2. To provide the Owner of the System with authentic and updated contact information;

10.4.3. At Identification, to provide the Owner of the System with authentic identification data;

10.4.4. To inform the Owner of the System timely on the change of personal data, details, and data in documents produced for Identification, and data for notifications forwarding;

10.4.5. To inform the Owner of the System timely on the change of personal data, details, and data in documents produced for Identification, and data for notifications forwarding;

10.4.6. To fulfill other obligations provided for hereby.

11. Order of Conclusion and Validity of the Agreement

11.1. This Agreement is concluded between the Owner of the System and the Client in the form of an offer.

11.2. Filling in the registration form published on the Website, including formation of the Authentication Data shall be treated as acceptance of the terms and conditions hereof.

11.3. Acceptance of the terms and conditions hereof shall mean complete and unconditional consent of the Client with all terms and conditions hereof without any reservations and/or limitations.

11.4. This Agreement is concluded sine die.

12. Amendment and Termination of the Agreement

12.1. The Owner of the System shall be entitled to make changes to the Agreement terms and conditions including rates and/or terms and conditions of rendering additional services. The changes made by the Owner of the System shall become mandatory for the Parties since their publication on the Website unless otherwise is stipulated by the Owner of the System.

12.2. In case the Client disagrees with change of the terms and conditions hereof including rates and/or terms and conditions of rendering additional services, it shall be entitled to repudiate this Agreement unilaterally by execution of return of the balance amount on the accounts in compliance with Clause 5.16. of the Agreement and Accounts Closing. The Agreement shall be deemed terminated upon Closing all accounts in the System.

12.3. The Client shall be entitled to repudiate this Agreement at any time by execution of return of the balance amount on the accounts in compliance with Clause 5.16. of the Agreement and Accounts Closing. The Agreement shall be deemed terminated upon Closing of all accounts in the System.

12.4. The Owner of the System shall be entitled to repudiate this Agreement unilaterally by forwarding a respective notice to the Client by any method provided for hereby. In this case this Agreement shall be deemed terminated 3 (three) calendar days after the respective notice has been forwarded.

13. Liability of the Parties

13.1. The Parties shall be liable for undue fulfillment of their obligations in compliance with the terms and conditions hereof.

13.2. The Owner of the System shall not be liable for damages or loss of profit by the Clients caused by unserviceability of the System due to any reasons.

13.3. The Owner of the System shall not be liable:

13.3.1. For malfunction of post services, the Internet, communication networks, power supply switch-offs/damages, technical failures in orders and exchange services, other failures, which arise due to reasons beyond the control of the Owner of the System and cause failure of the Owner of the System to fulfill the terms and conditions hereof;

13.3.2. Provided the information on operations using the account, Authentication Data, and Authorization Means of the Client becomes known to third parties in the result of violation by the Client of Clause 4.15. hereof or in other cases of non-abidance by the Client by the terms and conditions of storing and using the Authentication Data or the Authorization Means;

13.3.3. Provided the information on operations using the account or the Client's Authentication Data becomes known to third parties in the result of eavesdropping or interception and decoding of communication channels during their use;

13.3.4. For losses of the Client resulting from Account Blocking or Closing;

13.3.5. For losses resulting from improper input of order details by the Client;

13.3.6. For losses of the Client and/or third parties resulting from impossibility to use the account disregarding the grounds of such impossibility;

13.3.7. For losses resulting from submission of invalid identification data by the Client;

13.3.8. For losses resulting from submission of invalid, incorrect, or erratic communication data by the Client;

13.3.9. For losses resulting from the Client's failure to update the data for forwarding notifications and/or identification data.

13.3.10. For temporary inability of the Client to access the communication means, which provide for the account use and interaction with the System within the present Agreement, as well as the Client's losses related to it;

13.3.11. For other losses, whether financial, moral or reputational, incurred by the Client.

13.4. The Parties are released from property liability for failure to fulfill or undue fulfillment of obligations hereunder if it has been caused by force majeure circumstances, i.e. extreme and unpreventable circumstances, including Acts of God, military operations, or acts of authorities. In case any force majeure circumstances arise, the Party shall inform the other Party within 3 (three) business days about the impossibility to perform its obligations.

13.5. In case the Client when executing an operation breaches the rules hereof or the respective operation procedures published on the Website, the Owner of the System shall be entitled to return funds to the Client less the Fee for execution of the operation as well as the expenditures of exchange services or other counterparties of the Owner of the System for returning the received funds to the Client.

14. Severability

14.1. In case any provision hereof is admitted impracticable in any jurisdiction by a competent arbitral authority or court, the provision will be impracticable in that jurisdiction, and the remaining part hereof will remain mandatory for the Parties hereof as though it had not contained such a provision. As for the rest, the practicability of such a provision will not change, and it will be practicable in all other jurisdictions.

15. Miscellaneous Provisions

15.1. The Client guarantees that it understands all terms and conditions hereof and accepts them unconditionally and in full scope.

15.2. The Client guarantees that it will not use the System with illegal purposes as well as other purposes not stipulated herein.

15.3. In case the Website is inaccessible, the Mirrors of the Website are to be used.

Partner Bank:

none