USER TERMS AND CONDITIONS
PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE USING THE ONLINE PLATFORMS
New Invest Markets (herein after referred to as ” NIM”, which term shall refer to and include its owners, directors, investors, employees, officers, representatives, affiliates, or other related parties). Persons availing of the NIM Services (as defined below), directly or indirectly, are referred to herein, as ” User “. Only natural or legal persons can be Users, and no person other than a natural or legal person with a valid, authorised account with NIM can avail of the NIM Services in any manner whatsoever.
Please read these Terms carefully before you start to use NIM services. We recommend that you print a copy of this for future reference.
If you do not agree to these Terms, you must not use NIM Services. If you do not agree with any amendments made by to these Terms at any time in future, you must stop using NIM Services with immediate effect.
These Terms refer to, incorporate, and include the following additional terms, which also apply to your use of the Online Platforms:
1.2 Our Anti-Money Laundering Policy, which sets out the terms regarding identity verification of our Users and the procedures followed for early identification and reporting of prohibited/illegal activities which may be committed by using our services. When using the Online Platforms, you must comply with this AML Policy.
2.1. NIM offers a platform for trading in cryptocurrencies through the NIM Platform. Though presently the platform offers trading in Bitcoins, Ethereum, Litecoin, Ripple and Bitcoin Cash. NIM Services may extend to other cryptocurrencies as well in the future (for which all of the terms contained herein will apply). NIM is neither the creator nor the administrator of any cryptocurrencies including Bitcoins, Ethereum, Litecoin, Ripple and Bitcoin Cash or any other Cryptocurrencies it may offer services in future and is not in any way responsible for the global pricing of any cryptocurrency, the operation of any blockchain with respect to any cryptocurrency, or the mining process in relation to any cryptocurrency. NIM has no control over the generation, distribution, retention (except in its wallets), verification, termination, or market volatility of any cryptocurrencies. It merely acts as an intermediary / facilitator for the trading in cryptocurrencies by User, and provides other ancillary services in relation thereto, which are more fully set out hereunder.
2.2. NIM does not provide any warranty of any kind, either express or implied, in relation to the NIM Services. The NIM Services and the products offered therein, including facilitation services for the trading of cryptocurrencies between Users, are provided on an ” as-is ” and ” as available ” basis. Users avail of the NIM Services, and deal in cryptocurrencies at their own risk and with full awareness of the risk of the possible diminishment, devaluation and (potentially) complete loss of the entire holding or valuation of the User Account and all cryptocurrencies held therein, in the event of the occurrence of any of the risk factors outlined in this Agreement (as well as other risk factors inherent in any transactions involving cryptocurrencies), including, but not limited to, changes in the regulatory or legal regime in India and/or outside India, and any legal, regulatory, contractual or other restrictions that may be placed on NIM. It is hereby expressly declared that NIM offers no warranty of any kind regarding the NIM Services.
2.3. NIM Services are strictly available for use only within India, to the extent (and till such time) that transactions or trading in cryptocurrencies are permitted and not been curtailed in such parts of India. Further, in the event that a user is a Prohibited Person, or resides in any Prohibited Jurisdiction, such users are not permitted to use the NIM Services in any form (“Prohibited Jurisdiction Use”). Any Prohibited Jurisdiction Use will amount to a breach of this Agreement, and NIM shall forthwith be entitled to terminate this Agreement and the use and operation of the relevant User Account, shall extend all cooperation to the relevant governmental and enforcement authorities, and shall not be liable in any manner whatsoever for any Loss arising out of such, in relation to, or subsequent to such Prohibited Jurisdiction Use. Users are therefore duly warned against availing of the NIM Services in any manner whatsoever in or from a Prohibited Jurisdiction, or from anywhere outside India. Users shall be solely responsible for ensuring compliance with this requirement, and for compliance with the laws and regulations of the jurisdiction in or from where they are availing of the NIM Services. Subject to confirmation by the User to be bound by the terms contained herein, and compliance with the terms contained herein at all times, NIM hereby grants to the User a personal, revocable, non-exclusive, non-transferable, non-sub-licensable, and limited right to use the NIM Services.
2.4. NIM may use third party service providers to render some or all of the NIM Services, or for facilitating the same. User agrees to the use of such third parties, and hereby provides consent for collection, analysis, use, dissemination and retention by such third parties of any and all personal data, or and sensitive personal data and information, of the User. User shall be bound by the terms of service of such third parties to the same extent as NIM would be bound. NIM shall however not be responsible or liable for any act, inaction, commission or omission by such third parties, including with respect to data protection, privacy, security practices, or compliance with applicable laws and regulations.
2.5. These terms shall be applicable to all existing and new Users. NIM reserves the right to modify or amend the terms herein, and intimation thereof shall be sent to existing Users, who may decide to opt out of the NIM Services at such time by intimating NIM of such intention in writing. Continued use of the NIM Services shall be deemed to amount to confirmation and acceptance of the modified or altered terms hereof.
2.6. The Parties agree that the terms set out hereunder are in consideration of good and valuable consideration, and shall be and are intended to be binding on both Parties.
3.1. NIM Services provide access to a platform that currently facilitates the
3.1.1. Online trading of cryptocurrencies (including cryptocurrencies, cryptocurrency tokens and digital assets) including their sale and purchase.
3.1.2. Transfer of Funds from a User’s Wallet into its Linked Banked Account and vice versa, and (iii) online storage of Digital Assets owned by the Users (collectively the “Services”), operated by NIM. (the ” Company “or ” NIM”).
3.2. Subject to the conditions set out above, Users may utilize the NIM Services to purchase and/or sell cryptocurrencies (including cryptocurrencies, cryptocurrency tokens and digital assets) to and from each other, using the NIM Platform. The authentication of such buyers and sellers is the sole responsibility of the concerned User(s), and Users are required to ensure that all of the NIM Services are availed of only for legal purposes and through legal means.
4.1. “Coin Wallet” or “Cryptocurrency Wallet” or Digital Token Wallet means an online address accessible through the Online Platforms and operated by a User for storage of its cryptocurrencies (including cryptocurrencies, cryptocurrency tokens and digital assets);
4.2. ” Content ” means any information, text, graphics, or other materials uploaded by the Company or the users, which appears on the Online Platforms for other users to access.
4.3. “Digital Assets “or “Cryptocurrencies” or “Cryptocurrency Tokens” or Digital Tokens refer to (i) blockchain based crypto-currencies such as Bitcoins, Litecoin, Ethereum, Ripple, etc., or any other form of virtual currencies as well as proprietary coins and tokens; or (ii) a digital representation of value that functions as (a) a medium of exchange; (b) a unit of account; (c) a store of value, and/or (d) other similar digital representations of rights or assets, which is neither issued nor guaranteed by any country or jurisdiction and does not have legal tender status in any country or jurisdiction, typically including blockchain-based assets or rights including sovereign cryptocurrency or virtual currency such as bitcoins, Litecoins, and ethers;
4.4. ” USD” means United States Dollar;
4.5. ” USD Wallet ” means an online address accessible through the Online Platforms and operated by a User for the storage of the User USD holdings;
4.6. ” Funds “or ” Holdings ” refers to both cryptocurrencies (including cryptocurrencies, cryptocurrency tokens and digital assets) and USD, as the case maybe;
4.7. ” Linked Bank Account ” refers to any bank account owned and operated by the User and held with a Scheduled Commercial Bank, whose details were provided by the User during the activation process mentioned under Clause 8.1 herein;
4.8. ” Sanctions Lists ” has the meaning given to it under the AML Policy and includes the â€œSpecially Designated Nationals and Blocked Personsâ€ (â€œSDNâ€) List and the Non-SDN List, including, but not limited to, the â€œSectoral Sanctions Identifications Listâ€, published by OFAC; the Section 311 Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern published by FinCEN; and, any other foreign terrorist organization or other sanctioned, restricted, or debarred party list published by the FIA, or under Economic Sanctions, AML, or CTF Laws of or by Governments of the United States, the British Virgin Islands (including any sanctioned, restricted, or debarred party list under the Laws of the United Kingdom and applicable in the British Virgin Islands), or the United Nations;
4.9. ” Wallet(s) ” refers to a User ” Coin Wallet ” or ” Cryptocurrency Wallet ” and/or its Wallet, as the case maybe;
4.10. ” Claims ” includes any and all charges, complaints, actions, agreements, amounts, damages, claims, liabilities, promises, controversies, damages, or causes of action, litigation, suits, rights, demands, costs, losses, debts, interest, indemnities, fines, penalties, and expenses (including attorneys ” consultants “, and statutory fees and costs incurred), and obligations of any nature or description whatsoever, past, present, or future, under applicable Law, contract, or in equity, known or unknown, suspected or unsuspected, existing or prospective, irrespective of whether the concerned Party proposes to appeal/challenge such claims.
4.11. “Laws” means and includes (i) all applicable provisions of all constitutions, treaties, statutes, laws (including common law), codes, rules, regulations, ordinances, bye-laws or orders of, or any similar form of decision, interpretation or policy of, or determination by, any governmental or similar authority, (ii) governmental approvals, consents, licenses, registrations, etc., (iii) orders, decision, injunctions, judgments, awards and decrees of or agreements with any governmental or similar authority, and (iv) all laws, statutes, orders, regulations, rules, treaties, and/or official obligations or requirements enacted, promulgated, issued, ratified, enforced, or administered by any Government that apply to NIM, Permitted Beneficiaries, the Trading Activities or the third party liquidity provider Site.
4.12. “Loss” means and includes (i) all losses, Claims, demands, liabilities, obligations, fines, expenses, costs (including litigation costs and costs of remedying any default or damage caused), and damages (whether or not resulting from third party Claims), taxes, including interests and penalties with respect thereto and expenses, including reasonable attorneys, consultants, and accountants fees and disbursements; and (ii) collectively, any claim, application, loss, injury, delay, accident, cost, business interruption costs, or any other expenses (including, but not limited to, attorneysâ€™ fees or the costs of any claim or suit), including, but not limited to, any incidental, direct, indirect, general, special, punitive, exemplary, or consequential damages, loss of goodwill or business profits, work stoppage, data loss, computer failure or malfunction, or any and all other commercial losses
4.13. Any reference to ” you ” or ” your ” or ” user ” or “Permitted Beneficiary” refers to you as a user of the Online Platforms and the Services and any reference to we, our and us shall refer to the Company as the provider of the Services.
4.14. Trading Activities means trading activities which NIM wishes to carry out utilising its account with third party liquidity provider in Eligible Digital Tokens, as defined in the Third-Party Liquidity Agreement, on behalf of Permitted Beneficiaries and has previously agreed to the Third-Party Liquidity Provider Site Terms of Service
4.15. Economic Sanctions means financial sanctions, trade embargoes, export or import controls, anti-boycott, and restrictive trade measures enacted, administered, enforced, or penalized by any Laws applicable to NIM, Permitted Beneficiaries, the Trading Activities or the NIM Site.
4.16. Government means any national, federal, state, municipal, local, or foreign branch of government, including, but not limited to, any department, agency, subdivision, bureau, commission, court, tribunal, arbitral body, or other governmental, government appointed, or quasi-governmental authority or component exercising executive, legislative, juridical, regulatory, or administrative powers, authority, or functions of or pertaining to a government instrumentality, including, but not limited to, any parasternal company, or state-owned (majority or greater) or controlled business enterprise;
4.17. Affiliate means, in relation to either Party, a direct or indirect subsidiary of the Party, a holding company of the Party, and any other subsidiary of that holding company;
4.18. Associates means, in relation to a Person, such Person and each and every one of its shareholders, directors, officers, Affiliates, employees, contractors, agents, partners, insurers, and attorneys.
4.19. Prohibited Jurisdiction means any of: Cuba, Democratic People’s Republic of Korea (North Korea), Iran, Syria or Crimea (a region of Ukraine annexed by the Russian Federation); or any such jurisdiction within India where any transactions in cryptocurrencies may be prohibited
4.20. Prohibited Person means any U.S. Person; the Government of Venezuela; any citizen or resident of, Government or Government Official of, or Person in or subject to the jurisdiction of, any Prohibited Jurisdiction; and any Sanctioned Person.
4.21. Sanctioned Person refers to any Person or Digital Tokens Address that is: (i) specifically listed in any Sanctions List; (ii) directly or indirectly owned 50 percent or more by any Person or group of Persons in the aggregate, or a Digital Tokens Wallet associated with such Person or Persons, referred to in any Sanctions List, or Government or Government Official of any Prohibited Jurisdiction; or (iii) that is subject to any Government Approval or otherwise sanctioned, restricted, or penalized under applicable Economic Sanctions, AML, or CTF Laws
4.22. Government Official means an officer or employee of any Government, a director, officer, or employee of any instrumentality of any Government, a candidate for public office, a political party or political party official, an officer or employee of a public international organization, and any Person who is acting in an official capacity for any of the foregoing, even if such Person is acting in that capacity temporarily and without compensation;
4.23. NIM will be making strategic partnerships with other digital assets liquidity providers (or) exchanges for the purpose of offering liquidity or better trading experience to customers. These third-party liquidity providers shall hereafter referred to as third party liquidity providers and will be offering their orderbook for trade through NIM platform.
4.24. Third Party Liquidity Agreement means the agreement executed between NIM and third party liquidity provider for the purpose of offering liquidity or better trading experience to customers
4.25. Third Party Liquidity Provider Site Terms of Service means the Exchange Terms of Service of third party liquidity providers, together with the materials incorporated therein
4.26. Third Party Liquidity Provider Supplemented Site Terms of Service means the Third Party Liquidity Provider Site Terms of Service, as supplemented by the Third Party Liquidity Agreement.
5.1. We may revise these Terms at any time by amending this page. Please check this page from time to time to take notice of any changes we made, as they are binding on you.
5.2. We may, without prior notice, change the Services; add or remove functionalities or features; stop providing the Services or features of the Services, to you or to users generally; or create usage limits for the Services.
6.1. We may update NIM Services from time to time, and may change the Content at any time on the NIM Online platform. However, please note that any of the Content on the NIM Online Platforms may be out of date at any given time and we are under no obligation to update it.
6.2. We do not guarantee that the NIM Services or NIM Online Platforms, or any Content on it, will be free from errors or omissions.
7.1. We do not guarantee that your use of the NIM Services will always be available or be uninterrupted. Access to the NIM Services is permitted on a temporary basis. We may suspend, withdraw, discontinue or change all or any part of the NIM Services without notice. We will not be liable to you including without limitation for any losses incurred due to volatility of prices of the Cryptocurrencies if for any reason the NIM Services are unavailable at any time or for any period.
7.2. You are also responsible for ensuring that all persons who access the NIM Services through your internet connection are aware of these Terms and other applicable terms and conditions, and that they comply with them.
8.1. Limited License: We grant you a limited, nonexclusive, non-transferable license, subject to the terms of this Agreement, to access and use the NIM Services, and related content, materials, information (collectively, the “Content”) solely for approved purposes as permitted by NIM from time to time. Any other use of the NIM Site or Content is expressly prohibited and all other right, title, and interest in the NIM Site or Content is exclusively the property of NIM and its licensors. You agree you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the Content, in whole or in part. “NIMSwaps.com”, ” NIM” and all logos related to the NIM Services or displayed on the NIM Site are either trademarks or registered marks of NIM or its licensors. You may not copy, imitate or use them without NIM’s prior written consent.
8.2. If you choose to register with us for availing NIM Services, an account will be created for your use on the Online Platforms and you will be provided with required Account Information to enable your access to the Account. In order to access any Services, you must activate your account (” User Account “) by following the identity verification process specified in the AML Policy. Failure to complete the User Account activation process as per the AML Policy will entitle the Company to terminate the said User Account. The term ” Account Information ” refers to a password and such information which may be provided by you as part of our security and verification procedures. If you register on the Online Platforms through any third party website like gmail, the login information of such third party account, as the case may be, shall be considered part of the Account Information. You must always treat Account Information as confidential and must not disclose it to any third party. Any access to the Online Platforms through your Account shall be considered as access by you or on your behalf and you shall be solely responsible for any activity carried out in, by or through your Account either on the Online Platforms or any other website accessed by you through the Online Platforms.
8.3. You represent and warrant that: (A) you are competent to contract i.e. (i) if you are an individual, that you are over eighteen years of age, or (ii) that if you are registering on behalf of an entity, that you are authorized to enter into, and bind the entity to, these Terms and register for the Services, in accordance with the laws of India; and (B) your name is not included in any Sanctions Lists; and (C) you are an Indian resident as defined under the Foreign Exchange Management Act, 1999 and the rules and regulations framed thereunder; and (D) your membership has not been suspended or terminated by us for any reason whatsoever. If we change the eligibility criteria to be registered with the Online Platforms and you no longer comply with the new eligibility criteria, as determined by us in our sole discretion, you accept that we may close your Account without any liability for us. You are solely responsible for ensuring that you are in compliance with these Terms and with all laws, rules and regulations applicable to you. If your right to access the Services is revoked or use of the Services is in any way prohibited, in such circumstances, you agree not to use or access the Online Platforms or use the Services in any way.
8.4. We have the right to disable your access to the User Account or any part of it, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Terms, including without limitation the AML Policy.
8.5. If you know or suspect that anyone other than you know or has unauthorized access to your Account Information or any part of it, you must promptly notify us by sending us an e-mail at support@NIMswaps.com. We are not liable for any losses or other consequences of unauthorised use of your account.
8.6. Third-Party Applications. If, to the extent permitted by NIM from time to time, you grant express permission to a third party to access or connect to your NIM Account, either through the third party’s product or service or through the NIM Site, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. You are fully responsible for all acts or omissions of any third party with access to your NIM Account. Further, you acknowledge and agree that you will not hold NIM responsible for, and will indemnify NIM from, any liability arising out of or related to any act or omission of any third party with access to your NIM Account. You may change or remove permissions granted by you to third parties with respect to your NIM Account at any time through the Account Settings (Integrations) page on the NIM Site.
8.7. Transactions Limits: The use of all NIM Services is subject to a limit on the amount of volume, stated in Fiat Currency terms, you may transact or transfer in a given period (e.g., daily). To view your limits, login to your NIM Account and view it in your account settings. Your transaction limits may vary depending on your payment method, verification steps you have completed, and other factors. NIM reserves the right to change applicable limits as we deem necessary in our sole discretion. If you wish to raise your limits beyond the posted amounts, you may submit a request at support@NIMswaps.com. We may require you to submit additional information about yourself or your business, provide records, and arrange for meetings with NIM staff (such process, “Enhanced Due Diligence”). NIM reserves the right to charge you costs and fees associated with Enhanced Due Diligence, provided that we notify you in advance of any such charges accruing. In our sole discretion, we may refuse to raise your limits or we may lower your limits at a subsequent time even if you have completed Enhanced Due Diligence.
8.8. Suspension, Termination, and Cancellation: NIM may: (a) suspend, restrict, or terminate your access to any or all of the NIM Services, and/or (b) deactivate or cancel your NIM Account if:
8.8.1. We are so required by a facially valid subpoena, court order, or binding order of a government authority; or
8.8.2. We reasonably suspect you of using your NIM Account in connection with a Prohibited Use or Business; or
8.8.3. Use of your NIM Account is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your Account activity; or
8.8.4. Our service partners are unable to support your use; or
8.8.5. You take any action that NIM deems as circumventing NIM controls, including, but not limited to, opening multiple NIM Accounts or abusing promotions which NIM may offer from time to time.
8.8.6. We understand dealing with payment issues can be stressful, and we want to hear our customers concerns. Nevertheless, if that frustration becomes aggressive, threatening, or disparaging towards our staff, we consider that behaviour unacceptable and may refuse to provide additional service. All threats of violence are reported to authorities and NIM reserves the right to close the account of any customer making such threats. Everyone has a right to feel safe at work, and that is no different for NIM . NIM chooses to protect our staff and say no to abusive behaviour. We strive to offer the best support in the digital assets industry, but when a customer mistreats our staff with abusive or threatening language, we reserve the right to end the business relationship with that customer.
8.9. If NIM suspends or closes your account, or terminates your use of NIM Services for any reason, we will provide you with notice of our actions unless a court order or other legal process prohibits NIM from providing you with such notice. You acknowledge that NIM’ decision to take certain actions, including limiting access to, suspending, or closing your account, may be based on confidential criteria that are essential to NIM’ risk management and security protocols. You agree that NIM is under no obligation to disclose the details of its risk management and security procedures to you.
8.10. You will be permitted to transfer Cryptocurrency or funds associated with your Hosted Cryptocurrency Wallet(s) and/or your Currency Wallet(s) for ninety (90) days after Account deactivation or cancellation unless such transfer is otherwise prohibited (i) under the law, including but not limited to applicable sanctions programs, or (ii) by a facially valid subpoena or court order. If NIM suspends or closes your account, or terminates your use of NIM Services for any reason NIM reserves the right to require you to complete the Verification Procedures before permitting you with transfer or withdraw Digital Currency or Fiat Currency.
8.11. You may cancel your NIM Account at any time by withdrawing all balances and visiting settings option in NIMSwaps.com. You will not be charged for cancelling your NIM Account, although you will be required to pay any outstanding amounts owed to NIM. You authorize us to cancel or suspend any pending transactions at the time of cancellation.
8.12. Privacy of Others; Marketing: If you receive information about another user through the NIM Services, you must keep the information confidential and only use it in connection with the NIM Services. You may not disclose or distribute a user’s information to a third party or use the information except as reasonably necessary to effectuate a transaction and other functions reasonably incidental thereto such as support, reconciliation and accounting unless you receive the user’s express consent to do so. You may not send unsolicited email to a user through the NIM Services.
8.13. Password Security; Contact Information: You are responsible for maintaining adequate security and control of any and all IDs, passwords, hints, personal identification numbers (PINs), API keys or any other codes that you use to access the NIM Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your NIM Account by third-parties and the loss or theft of any Digital Currency and/or funds held in your NIM Account and any associated accounts, including your linked bank account(s) and credit card(s). You are responsible for keeping your email address and telephone number up to date in your Account Profile in order to receive any notices or alerts that we may send you. We assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of NIM and/ or failure to follow or act on any notices or alerts that we may send to you. In the event you believe your NIM Account information has been compromised, contact NIM Support immediately at support@NIMswaps.com.
8.14. Taxes: It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the NIM Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Your transaction history is available through your NIM Account.
8.15. Unclaimed Property: If NIM is holding funds in your account, and NIM is unable to contact you and has no record of your use of the Services for several years, applicable law may require NIM to report these funds as unclaimed property to the applicable jurisdiction. If this occurs, NIM will try to locate you at the address shown in our records, but if NIM is unable to locate you, it may be required to deliver any such funds to the applicable or jurisdiction as unclaimed property. NIM reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
9.1. We reserve the right to refuse to execute any order and/or transaction initiated by you, if they are in contravention to the AML Policy or to comply with directions of appropriate enforcement authorities.
10.1. A Wallet has been provided to store your holdings. You are the owner of the balance of each of your Currency Wallets. NIM holds the balance of your Currency Wallets in dedicated accounts with financial institutions. Funds held herein can only be used to purchase assets through NIM, and the USD denominated sale proceeds of any cryptocurrencies will be credited into this USD Wallet, less the applicable Transaction Fee. You are not entitled to any interest on the Funds held in the USD Wallet.
10.2. In case you wish to acquire cryptocurrencies using NIM funds you will be required to transfer Funds from your Linked Bank Account to your NIM Wallet to purchase any Digital Assets. Your NIM Wallet will reflect funds transferred to it within 3 working days of such transfer being initiated, subject to any delays in the relevant banking channels or any other reasons not mentioned in this document.
10.3. You may withdraw the Funds held in your NIM Wallet, by making a formal request to transfer such Funds into the Linked Bank Account, through the Online Platforms at any time (” Withdrawal “). The Company will endevaour to settle each Withdrawal Request within 3 working days of such request being made, subject to any delays in the relevant banking channels or any other reasons not mentioned in this document.
12.1. Conditions and Restrictions: We may, at any time and in our sole discretion, refuse any exchange transaction or exchange bid submitted via the Services, impose limits on the exchange amount permitted via the Services or impose any other conditions or restrictions upon your use of the Services, without prior notice. For example, we may limit the number of open orders that you can establish via the Services or we may restrict exchanges from certain locations.
12.2. Accuracy of Information: You must provide any information required when creating a NIM Account or when prompted by any screen displayed within the Services. You represent and warrant that all information you provide via the Services is accurate and complete.
12.3. Cancellations: You may only cancel an order initiated via the Services if such cancellation occurs before we execute the transaction. Once your order has been executed, you may not change, withdraw, or cancel your authorization for us to complete such transaction. If any order has been partially filled, you may cancel the unfilled remainder of that order at any time. We reserve the right to refuse any cancellation request associated with a market order once you have submitted such order.
12.4. Insufficient Funds: If you have an insufficient amount of Virtual Currency in your Hosted Wallet to complete an order via the Services, we may cancel the entire order or may fulfill a partial order using the amount of Virtual Currency currently available in your Hosted Wallet, less any fees owed to NIM in connection with the execution of the exchange (as described in Section 8 below).
12.5. Taxes: It is your responsibility to determine what, if any, taxes apply to the exchange transactions you complete via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that we are not responsible for determining whether taxes apply to your trades or for collecting, reporting, withholding, or remitting any taxes arising from any trades.
12.6. Market Availability: NIM may open or close any market for a Virtual Currency on the Site at any time, in its sole discretion. If a market for a Virtual Currency is closed, any open orders that you may have for such Virtual Currency will be credited back to your NIM Account.
12.7. Currency Availability: NIM retains the right, in its sole discretion, to include a Virtual Currency on the Site, and may remove any Virtual Currency from the Site at any time for any reason. Unless otherwise required by law or law enforcement, NIM will make reasonable efforts to notify you of the likely removal of a Virtual Currency. If the market for a Virtual Currency is closed on the Site, you will have 14 days to push the amounts remaining in your NIM Account associated with such Virtual Currency to your External Virtual Currency Address. NIM will not be liable to you for any losses, liability or expenses related to the removal of a Virtual Currency.
12.8. NIM also reserves the rights to reverse actions/ cancel trades and press legal claim charges, to cover undue gains, against any customer in the event of any incorrect trade orders that might have occurred due to technical glitches or hack in NIM Systems or if the orders originated from a customer account that was hacked.
12.9. NIM has the rights to recover assets from the customer in case of negative balance from the customer. If Customer performs an action which results in negative balance, customer has the responsibility to ensure that the Customer performs actions that will result in the balance becoming positive once again. Customer can also reach out to the exchange within 24 hours of such error and take help from the exchange to rectify their balance issue.
12.10. In case of Peer to Peer transactions, the Seller needs to perform reasonable due diligence to ensure he has received the money only from the person who has initiated the transaction, verify the reference number, source of payment and other key details and only then confirm the receipt of USD. NIM is not liable for any payment made through fraud/hacked bank accounts and the onus lies of the Seller of the cryptocurrencies to perform the necessary actions before giving their confirmations.
12.11. You are not a Prohibited Person (including any U.S. Person) or acting for the financial benefit of or on behalf of a Prohibited Person and is not otherwise prohibited by Laws from using the Trading Activities.
12.12. If you are an individual user, that you are 18 years of age or older and that you have the capacity to contract under Laws.
12.13. You are currently in compliance with, and must, at your own cost and expense, comply with all Laws that relate to or affect the Trading Activities, including, but not limited to, AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, Tax Information Exchange Laws or other tax Laws.
12.14. You have not (i) violated, attempted or conspired to violate, or caused a violation of; (ii) been fined, debarred, sanctioned, the subject of Economic Sanctions-related restrictions, or otherwise penalized under; (iii) received any oral or written notice from any Government concerning actual or possible violation by it under; or (iv) received any other report that it is the subject or target of sanctions, restrictions, penalties, or enforcement action or investigation under, any Laws, including, but not limited to, AML Laws, CTF Laws, Anti-Corruption Laws, or Economic Sanctions Laws;
12.15. Neither you nor any of your Affiliates is: (i) itself, or owned (beneficially or of record) or controlled by a Sanctioned Person; (ii) involved in any transaction, transfer, or conduct that is likely to result in it or its Associates becoming a Sanctioned Person; (iii) residing or domiciled in, or engaging in any Trading Activities from a Prohibited Jurisdiction; or (iv) a Government or Government Official of a Prohibited Jurisdiction; or (v) otherwise a Prohibited Person; and
12.16. You consent to any and all tax and information reporting under AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, Tax Information Exchange Laws or other tax Laws as NIM may reasonably determine.
12.17. Neither you nor any of your Associates has directly or indirectly offered, promised, given, or authorized any payment, or offered, promised, given, or authorized the giving of anything else of value, including, but not limited to, any Digital Tokens or Fiat, to a Government Official or individual employed by another entity in the private sector in violation of any applicable Anti-Corruption Laws.
12.18. If customer is a legal entity, it is duly organized and validly existing under the laws of the jurisdiction of its organization and the individuals acting on its behalf are duly authorized by it to act on its behalf;
12.19. You consent to any and all tax and information reporting under AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, Tax Information Exchange Laws or other tax Laws as NIM may reasonably determine.
12.20. You represent and warrant on the date you enter into this Agreement and each time you use the Services, in each case in reference to the facts and circumstances existing at such date, each of the statements in Section 12.11 to 12.19.
13.1. Authorization: When you submit a new exchange order via the Services, you authorize us to execute a transaction in accordance with such order on a spot basis and charge you any applicable fees (as described in Section 8 below).
13.2. Independent relationship: You agree that: (a) we are not acting as your broker, intermediary, agent, or advisor, or in any fiduciary capacity, and (b) no communication or information provided to you by us shall be considered or construed as advice.
13.3. Trade confirmation: Before a trade is placed, a confirmation dialogue summarizes the details of the proposed transaction, including the number of coins you are trying to buy or sell, the price, the applicable fees, and the total cost of the transaction. Once the Services execute your exchange transaction, your accountÃŠÂ¼s order book will be updated with either the open trade request, or a closed order that was fulfilled. You agree that the failure of the Services to provide such confirmation shall not prejudice or invalidate the terms of such trade.
13.4. Market volatility: You agree that we are not liable for any price fluctuations in Virtual Currency. In the event of a market disruption or Force Majeure Event (as defined in Section 22.3), we may do one or more of the following: (a) suspend access to the Services; or (b) prevent you from completing any actions via the Services, including closing any open positions. We will not be liable for any losses suffered by you resulting from such actions. Following any such event, when exchange transactions resume, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
13.5. Exchange Settlement: Subject to the terms and conditions in these Terms, we will use commercially reasonable efforts to settle exchanges on a spot basis within two days of the date upon which users have agreed to execute an exchange via the Services.
13.6. In case funds are credited in your account by mistake due to an error of another customer, NIM employee or because of system error, NIM has the absolute right to recover the assets from your account. In case sufficient funds are not present in your account, NIM has the rights to pursue due legal recourse to recover the same.
NIM will be making strategic partnerships with third party liquidity providers for the purpose of offering liquidity or better trading experience to customers. You acknowledge and agree to the following obligations and terms at which these third-party liquidity providers are providing their product / services for you to use.
13.7. third party liquidity provider or NIM are not responsible or liable for any and all actions and inactions by NIM, including through the Trading Activities and all gains and Losses sustained from its access of any of the Trading Activities;
13.8. that you have no right whatsoever to claim damages, specific performance, or compensation in any form from third party liquidity provider or NIM as a result of Trading Activities;
13.9. that there is no guarantee against Losses from the Trading Activities;
13.10. that third party liquidity provider may, at its sole discretion, suspend the Trading Activities of NIM , in whole or in part, at any time;
13.11. that third party liquidity provider makes no representations, warranties, covenants or guarantees any kind to the Permitted Beneficiary and, to the extent permitted by Laws, third party liquidity provider expressly disclaims all representations, covenants, warranties or guarantees, express, implied or statutory, with respect to the Trading Activities;
13.13. that Trading Activities may be suspended if the Permitted Beneficiary or NIM declines to provide requested due diligence information or otherwise does not reply timely or substantively with the documentation or data requested;
13.14. third party liquidity provider reserves the right to bar transactions from or to, to undertake enhanced due diligence, or to suspend or terminate the administration of Trading Activities for or with, NIM or any Permitted Beneficiary for any reason (or for no reason) at any time, subject to any limitations imposed by Laws;
13.15. third party liquidity provider may suspend or terminate the provision of Customer Activities to NIM or freeze or terminate the Permitted Beneficiaryâ€™s assets applied to the Trading Activities, at its sole discretion, as required by Laws or where third party liquidity provider determines that the Permitted Beneficiary or NIM have violated, breached, or acted inconsistent with any term of the Third Party Liquidity Agreement or the Third Party Liquidity Provider Site Terms of Service or exposed third party liquidity provider or its Associates to the possibility of sanctions, restrictions or Losses pursuant to Laws;
13.16. third party liquidity provider and its Associates are third party beneficiaries of this Agreement, and that, upon the Permitted Beneficiaryâ€™s acceptance of the terms and conditions of this Agreement, third party liquidity provider and its Associates will have the right (and will be deemed to have accepted the right) to enforce this Agreement against the Permitted Beneficiary as a third party beneficiary thereof;
13.17. to the maximum extent permitted by applicable Law, to release third party liquidity provider and its Associates from liability for any and all Losses, and indemnify and save and hold third party liquidity provider and its Associates harmless from and against all Losses directly or indirectly arising out of or related to: (i) any breach by HPF (including as a result of any Permitted Beneficiary) of the terms of service between HPF and such third party liquidity provider; (ii) HPF use of the third party liquidity providerâ€™s website; (iii) third party liquidity services, and HPF use of any of them; (iv) any failure by HPF , the Permitted Beneficiary or any of their respective Affiliates to comply with applicable Laws; (v) any information or materials available through the third party liquidity providers site, whether originating from third party liquidity provider, its Associates or any other Person; (vi) the real or perceived value of any currencies or Digital Tokens traded or utilized on the third party liquidity providerâ€™s site, or the price of any Digital Token displayed on the third party liquidity providerâ€™s site at any time; (vii) any inaccurate, misleading, or incomplete statement by third party liquidity provider or on the third party liquidity providerâ€™s site regarding HPF Digital Tokens Wallet, whether caused by third party liquidity providers negligence or otherwise; (viii) any failure, delay, malfunction, interruption, or decision (including any decision by third party liquidity provider to vary or interfere with your rights) by third party liquidity provider in operating the third party liquidity providerâ€™s site or providing any third party liquidity services; (i) any stolen, lost, or unauthorized use of HPF Digital Tokens Wallet information, any breach of security or data breach related to HPF Digital Tokens Wallet information, or any criminal or other third-party act affecting third party liquidity provider or any Associate; or (j) any offer, representation, suggestion, statement, or claim made about third party liquidity provider, the third party liquidity providerâ€™s site, or any third party liquidity provider services by third party liquidity provider or any of its Associate;
13.18. to the maximum extent permitted by applicable Law, the foregoing limitations of liability shall apply whether the alleged liability or Losses are based on contract, negligence, tort, unjust enrichment, strict liability, violation of law or regulation, or any other basis, even if the third party liquidity provider or its Associates have been advised of or should have known of the possibility of such Losses and damages, and without regard to the success or effectiveness of any other remedies; and
13.19. that such Permitted Beneficiary may not take any act or action, or omit or fail to take any act or action, or provide any information to, or omit or fail to provide any information to HPF that would cause HPF to breach, violate or fail to perform any of its obligations under the terms of service between HPF and such third party liquidity provider.
31.1. For general enquires, complaints and/or giving any feedback, please email to firstname.lastname@example.org
31.2. In case you do not want to continue using our Services and want to deactivate your Account with us, please contact is at email@example.com
31.3. If you do not agree with any provision of these Terms and wish to opt out of such provision, please write to us at firstname.lastname@example.org (” Opt-out Request “). You agree that you are not entitled to use the Online Platforms or the Services unless your Opt-out Request is accepted by us in writing.