14 KiB
Terms of Use
Updated: Oct 26th, 2021
These Terms of Use (the "Terms," "Terms of Use" or "Agreement") contain the terms and conditions that govern your access to https://gettft.com/ (the "Site") and use of the services provided through the Site by TF Hub Limited, a company registered in British Virgin Islands under BVI Business Companies Act, 2004 with license number 2089914, with its registered office address at Intershore Chambers, PO Box 4342, Road Town, Tortola, VG1110 British Virgin Islands ("us", "we", "our") and is an agreement between us and you or the entity you represent ("you" or "your").
Please read these Terms of Use carefully before using the Site or Services. By using the Site, or clicking a button or checkbox to accept or agree to these Terms where that option is made available or, completing an order form for Services, or, if earlier, using or otherwise accessing the Services (the "Effective Date"), you:
a. accept and agree to these Terms and any additional terms, rules and conditions of participation issued by TF Hub Limited from time to time;
b. declare that you are older than 18 years and are lawfully able to enter into contracts; and
c. consent to the collection, use, disclosure and other handling of information as described in our Privacy Policy.
If you do not agree to the Terms, then you may not access or use the Services. If you are entering into this Agreement for an entity, such as the company you work for, you represent to us that you have legal authority to bind that entity.
In addition, you represent to us that you and your financial institutions, or any party that owns or controls you or your financial institutions, are (1) not subject to sanctions or otherwise designated on any list of prohibited or restricted parties, including but not limited to the lists maintained by the United Nations Security Council, the U.S. Government (e.g., the Specially Designated Nationals List and Foreign Sanctions Evaders List of the U.S. Department of Treasury and the Entity List of the U.S. Department of Commerce), the European Union or its Member States (e.g. any restrictions referred to on the EU Sanctions Maps website (https://sanctionsmap.eu/#/main), or other applicable government authority and (2) not located in any country to which the United States and/or the European Union has embargoed goods or has otherwise applied any sanctions. Finally, you are aware that the value of cryptocurrencies can fluctuate strongly and that no guarantee whatsoever can be issued for the value of cryptocurrencies at any time.
The present Terms shall apply in combination with the Griduser Terms and Conditions (https://library.threefold.me/info/legal/#/legal__terms_conditions_griduser) which govern, among others, your use of the TFTs. In case of conflict between the present Terms and the Griduser Terms and Conditions, the present Terms shall prevail.
- The Services
1.1 Generally. You may access and use the Services in accordance with this Agreement. You agree to comply with the terms of this Agreement and all laws, rules and regulations applicable to your use of the Service Offerings.
1.2 Offerings and Access. TF Hub Limited is selling cloud IT capacity (consisting of compute, storage and network capacity) made available on the ThreeFold Grid, as further detailed on the Site. The IT capacity that is available through the ThreeFold Grid can only be purchased using ThreeFold Token (‘TFT’), the exclusive cryptocurrency of the ThreeFold Project. Each TFT thus represents a certain amount of compute, storage and network capacity on the ThreeFold Grid. On our Site, we offer you the possibility to purchase your IT Capacity on the ThreeFold Grid (the ‘Services’) by acquiring TFTs. The cryptocurrencies accepted as a payment instrument are explicitly mentioned on our Site. Services are accessed through the Apple App Store, Google Play Store, and Site, unless otherwise agreed in writing or otherwise offered.
1.3 Third-Party Services. When you use our Services, you may also be using the services of one or more third parties. Your use of these third party services may be subject to the separate policies, terms of use, and fees of these third parties.
1.4 By transferring a Bitcoin amount (or any other cryptocurrency amount as may be accepted by TF Hub Limited on the Site) to TF Hub Limited using the Site, you offer to purchase a certain number of TFTs, the value of which corresponds to the amount of the transferred amount. By doing so you agree to the value of the TFTs to be purchased, as these are determined and recorded by TF Hub Limited. The value of the TFTs will be recorded at the time when you have chosen a payment method and the payment has started and/or is executed, which shall correspond to the actual market value to be determined by TF Hub Limited (plus any costs of the payment service, if any).
1.5 The TFTs purchased through the Service will be sent to the receiving address indicated by you. You declare that the specified receiving address is part of your personal wallet. You declare that no third person or legal entity has access to the wallet and that you are the owner of the wallet.
1.6 You carry out your transactions on your own account. You do not use funds from third parties.
1.7 A completed payment, as well as the sending of cryptocurrencies by you to us cannot be reversed. Cryptocurrencies can never be exchanged or returned, unless otherwise provided by applicable law (see in this case section 3.5 below). In that case you only have the option of using the TFTs to purchase IT capacity on the ThreeFold Grid, or selling the TFTs to third parties.
- Changes
2.1 To the Services. We may change or discontinue any or all of the Services or change or remove functionality of any or all of the Services from time to time. We will notify you of any material change to or discontinuation of the Services.
2.2 To this Agreement. We reserve the right, at our sole discretion, to modify or replace any part of this Agreement (including any Policies) at any time. It is your responsibility to check this Agreement periodically for changes. Your continued use of or access to the Services following the posting of any changes to this Agreement constitutes acceptance of those changes.
- Your Responsibilities
3.1 Your details. The entering of the correct details, such as quantity, (cryptocurrency) receiving address and email address is your personal responsibility, as well as the passing on of changes. You guarantee the accuracy of the details stated by you. The failure of, or late, passing on of changes will be entirely at your expense and risk.
3.2 Your Use. You will ensure that Your Use of the Services does not violate any applicable law. You are solely responsible for Your Use of the Services.
3.3 Your Security and Backup. You are responsible for properly configuring and using the Services and otherwise taking appropriate action to secure, protect and backup your wallet and other related information in a manner that will provide appropriate security and protection, which might include use of encryption.
3.4 You shall accept the special circumstances that can occur during the provision of service by TF Hub Limited through the internet and the (technical) faults that can occur over the course of this, such as the impossibility of acquiring (full) access to the Site(s), not being able to provide and/or process an order in a timely manner, breakdowns of and/or defects of the Site(s) and/or underlying hardware and/or (internet) network connections and/or software on which the ThreeFold Grid operates. With the exception of intention and gross negligence on the part of TF Hub Limited , the latter will not be liable for these special circumstances, or as the case may be for any consequences of the (temporary) partial or complete inaccessibility or unavailability of the Site(s), the ThreeFold Grid or as the case may be in the event of delays and/or breakdowns and/or the Site(s) not functioning fully.
3.5 .If the purchase or sale by a consumer is taking place long-distance, you may as a consumer have the right, in most cases, to invoke the termination of the agreement without stating reasons, this is the ‘right of withdrawal’. In case you are entitled under applicable law to invoke a right of withdrawal, TF Hub Limited will process your request and refund the relevant amounts within 14 days. Having regard to the fact that the value of the cryptocurrencies is subject to (exchange rate) fluctuations and that TF Hub Limited has no control over this, you accept that the value of the TFTs will be recorded at the time when TF Hub Limited initiates the repayment, which shall correspond to the actual market value to be determined by TF Hub Limited (plus any costs of the payment service, if any).
- Taxes
4.1 Taxes. Each party will be responsible, as required under applicable law, for identifying and paying all taxes and other governmental fees and charges (and any penalties, interest, and other additions thereto) that are imposed on that party upon or with respect to the transactions and payments under this Agreement. All amounts payable by you are exclusive taxes unless otherwise noted. We reserve the right to withhold taxes where required.
- Temporary Suspension.
5.1 Generally. We may suspend Your right to access or use any portion or all of the Services immediately upon notice to you if we determine:
a. your use of the Services (i) poses a security risk to the Services or any third party, (ii) could adversely impact our systems, the Services or the systems of any other user, (iii) could subject us, our affiliates, or any third party to liability, or (iv) could be fraudulent;
b. you are in breach of this Agreement;
5.2 Effect of Suspension. If we suspend your right to access or use any portion or all of the Services, or in the event of cancellation of a transaction by TF Hub Limited, the monies paid to TF Hub Limited and/or the cryptocurrencies delivered to it will be returned after deduction of the costs incurred and the damages suffered by TF Hub Limited as a result of any exchange rate fluctuations. TF Hub Limited is under no circumstances liable for compensation toward you.
- Disclaimers & Risk
6.1 DISCLAIMER. THE SERVICE OFFERINGS ARE PROVIDED "AS IS." EXCEPT TO THE EXTENT PROHIBITED BY LAW, OR TO THE EXTENT ANY STATUTORY RIGHTS APPLY THAT CANNOT BE EXCLUDED, LIMITED OR WAIVED, WE AND OUR AFFILIATES AND LICENSORS (A) MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE REGARDING THE SERVICE OFFERINGS OR THE THIRD-PARTY CONTENT, AND (B) DISCLAIM ALL WARRANTIES, INCLUDING ANY IMPLIED OR EXPRESS WARRANTIES (I) OF MERCHANTABILITY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR QUIET ENJOYMENT, (II) ARISING OUT OF ANY COURSE OF DEALING OR USAGE OF TRADE, (III) THAT THE SERVICE OFFERINGS OR THIRD-PARTY CONTENT WILL BE UNINTERRUPTED, ERROR FREE OR FREE OF HARMFUL COMPONENTS, AND (IV) THAT ANY CONTENT WILL BE SECURE OR NOT OTHERWISE LOST OR ALTERED.
6.2 RISKS. OUR SERVICES RELY ON EMERGING TECHNOLOGIES, SUCH AS BLOCKCHAIN. SOME SERVICES ARE SUBJECT TO INCREASED RISK THROUGH YOUR POTENTIAL MISUSE OF THINGS SUCH AS PUBLIC/PRIVATE KEY CRYPTOGRAPHY. BY USING THE SERVICES YOU EXPLICITLY ACKNOWLEDGE AND ACCEPT THESE HEIGHTENED RISKS.
- Limitations of Liability
7.1 Limitation of Liability. IN NO EVENT SHALL THE AGGREGATE LIABILITY OF EACH PARTY TOGETHER WITH ALL OF ITS AFFILIATES ARISING OUT OF OR RELATED TO THIS AGREEMENT EXCEED THE TOTAL AMOUNT PAID BY YOU HEREUNDER FOR THE SERVICES GIVING RISE TO THE LIABILITY IN THE TWELVE MONTHS PRECEDING THE FIRST INCIDENT OUT OF WHICH THE LIABILITY AROSE, OR, IF NO FEES HAVE BEEN PAID, $250.00. THE FOREGOING LIMITATION WILL APPLY WHETHER AN ACTION IS IN CONTRACT OR TORT AND REGARDLESS OF THE THEORY OF LIABILITY.
7.2 Exclusion of Consequential and Related Damages. IN NO EVENT WILL EITHER PARTY OR ITS AFFILIATES HAVE ANY LIABILITY ARISING OUT OF OR RELATED TO THIS AGREEMENT FOR ANY LOST PROFITS, REVENUES, GOODWILL, OR INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, COVER, BUSINESS INTERRUPTION OR PUNITIVE DAMAGES, WHETHER AN ACTION IS IN CONTRACT OR TORT AND REGARDLESS OF THE THEORY OF LIABILITY, EVEN IF A PARTY OR ITS AFFILIATES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR IF A PARTY’S OR ITS AFFILIATES’ REMEDY OTHERWISE FAILS OF ITS ESSENTIAL PURPOSE. THE FOREGOING DISCLAIMER WILL NOT APPLY TO THE EXTENT PROHIBITED BY LAW.
- Miscellaneous
8.1 Force Majeure. Neither party nor their respective affiliates will be liable for any delay or failure to perform any obligation under this Agreement where the delay or failure results from any cause beyond such party’s reasonable control, including but not limited to acts of God, utilities or other telecommunications failures, cyber attacks, earthquake, storms or other elements of nature, pandemics, blockages, embargoes, riots, acts or orders of government, acts of terrorism, or war.
8.2 Severability. If any portion of this Agreement is held to be invalid or unenforceable, the remaining portions of this Agreement will remain in full force and effect. Any invalid or unenforceable portions will be interpreted to effect and intent of the original portion. If such construction is not possible, the invalid or unenforceable portion will be severed from this Agreement but the rest of the Agreement will remain in full force and effect.
8.3 Applicable law. The laws of the United Arab Emirates applies to all transactions.
8.4 All disputes between parties, including those disputes that are only regarded to be a dispute by one of the parties, will be adjudicated by the court with competent jurisdiction of the United Arab Emirates.
APPENDIX
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