TERMS AND CONDITIONS FOR THE SUPPLY OF BITCOINS & ETHERS BY BITCOIN GLOBAL CAPITAL
1.1) Definitions, in these conditions, the following definitions apply:
Transaction Report: the Broker’s confirmation of transaction details.
Broker: Bitcoin Global Capital™, registered office address: 180 Piccadilly, Mayfair, London, W1J 9HF. Registered in England and Wales with company number 09930781.
Business Day: a day (other than a Saturday, Sunday or public holiday).
Charges: the charges, including commission, payable by the Customer for the supply of the Services in accordance with clause 6.
Commencement Date: has the meaning set out in clause 2.2.
Conditions: these terms and conditions.
Contract: the contract between the Broker and the Customer for the supply of Services in accordance with these Conditions.
Customer: the person or firm who purchases Services from the Broker.
Bitcoins: the Peer-to-Peer internet crypto-currency further described at http://bitcoin.org.
Ethers: the crypto-currency / token used in Ethereum, a decentralized platform that runs smart contracts, further described at https://www.ethereum.org.
Order: the Customer’s order for Services as set out by the Customer’s in writing to Broker.
Services: the sourcing of Bitcoins or Ethers for the Broker to purchase on behalf of the Customer subject to the Broker first having received cleared funds by the Customer.
1.2) In these Conditions, the following rules apply:
(a) a person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality);
(b) any phrase introduced by the terms including, include, in particular or any similar expression, shall be construed as illustrative and shall not limit the sense of the words preceding those terms; and
(c) a reference to writing or written includes faxes and e-mails.
2) Basis of Contract
2.1) The Order constitutes an offer by the Customer to purchase Services in accordance with these Conditions.
2.2) The Order shall only be deemed to be accepted when the Broker issues a Transaction Report, at which point and on which date the Contract shall come into existence (Commencement Date).
2.3) The Contract constitutes the entire agreement between the parties. The Customer acknowledges that it has not relied on any statement, promise or representation made or given by or on behalf of the Broker which is not set out in the Contract.
2.4) Any samples, drawings, descriptive matter or advertising issued by the Broker, and any descriptions or illustrations contained in the Broker’s catalogues or brochures, are issued or published for the sole purpose of giving an approximate idea of the Services described in them. They shall not form part of the Contract or have any contractual force.
2.5) These Conditions apply to the Contract to the exclusion of any other terms that the Customer seeks to impose or incorporate, or which are implied by trade, custom, practice or course of dealing.
3) Risk Warning
3.1) The value of Bitcoins and Ethers may fall as well as rise and past performance is no guide to future growth. Changes in currency exchange rates may affect the value of Bitcoins and Ethers. Purchasing Bitcoins and Ethers as an investment should be done only as part of a diversified portfolio.
3.2) Bitcoin Global Capital is not regulated by the Financial Conduct Authority. Bitcoins and Ethers are not deemed a ‘specified investment’ in the UK as per the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (“Regulated Activities Order”).
3.3) Bitcoin Global Capital does not operate a collective investment scheme and does not source Bitcoins or Ethers for more than one individual or entity. Entities are deemed to warrant that they are not themselves collective investment schemes.
3.4) It is assumed that each client is aware of the potential risks and rewards in any investment, and makes decisions based on their own knowledge, risk profile and experience. Bitcoin Global Capital should not be relied upon as extending any implied or explicit guarantee of return. Ethers should be regarded as carrying a higher risk than Bitcoins. Ethereum offline wallets rely on 3rd party wallet generators which have been in existence for less than a year and may pose an additional risk of loss.
3.5) This document must not be reproduced in any form without the express permission of Bitcoin Global Capital. No responsibility is accepted by Bitcoin Global Capital for any action taken or not taken by persons as a result of this document.
4. Supply of Services
4.1) The Broker shall supply the Services to the Customer in accordance with the Terms and Conditions in all material respects.
4.2) The Broker shall have the right to make any changes to the Services which are necessary to comply with any applicable law or safety requirement, or which do not materially affect the nature or quality of the Services, and the Broker shall notify the Customer in any such event.
5) Customer Obligations
5.1) The Customer Shall:
(a) ensure that the terms of the Order are complete and accurate;
(b) co-operate with the Broker in all matters relating to the Services;
(c) provide the Broker with such information and materials as the Broker may reasonably require in order to supply the Services, and ensure that such information is accurate in all material respects;
(d) acknowledge that where Bitcoin Global Capital is required to verify Your identity in accordance with the Money Laundering Requirements, Bitcoin Global Capital reserves the right not to undertake any transaction, or accept any funds until such verification has been obtained.
5.2) If the Broker’s performance of any of its obligations under the Contract is prevented or delayed by any act or omission by the Customer or failure by the Customer to perform any relevant obligation (Customer Default):
(a) the Broker shall without limiting its other rights or remedies have the right to suspend performance of the Services until the Customer remedies the Customer Default, and to rely on the Customer Default to relieve it from the performance of any of its obligations to the extent the Customer Default prevents or delays the Broker’s performance of any of its obligations;
(b) the Broker shall not be liable for any costs or losses sustained or incurred by the Customer arising directly or indirectly from the Customer’s failure or delay to perform any of its obligations as set out in clause 5.1.
6) Charges and Payment
6.1) Transactions are charged at 4.9% of the deal value when buying and selling.
By way of example a £1,000 order and payment received will result in an order being placed for £951 worth of Bitcoins after commission fees. If those subsequently rise to £1,200 in value there will be a selling fee of £58.80 resulting in a net return of funds of £1141.20.
6.2) The Broker shall invoice the Customer before acquisition of Bitcoins or Ethers.
6.3) The Customer shall pay each invoice submitted by the Broker at the time of providing the acquisition funds for Bitcoins or Ethers.
6.4) The price of Bitcoins and Ethers fluctuates and can depend on many factors including location, currency, method of transfer and market conditions. Bitcoins and Ethers are supplied at competitive market prices and encompass the security of supply and operational costs involved in providing a secure offline paper wallet. Once the Broker has received a Purchase or Sell Order and cleared payment the Broker shall endeavour to fulfil the Order within 10 working days; however during busy periods this may take longer. When selling Bitcoins or Ethers funds will be returned to the Customer via bank transfer. The Broker is excluded from any claims of liability, including the loss of profit, which may arise as a result of delays.
6.5) The Customer shall pay all amounts due under the Contract in full without any deduction or withholding except as required by law and the Customer shall not be entitled to assert any credit, set-off or counterclaim against the Broker in order to justify withholding payment of any such amount in whole or in part. The Broker may, without limiting its other rights or remedies, set off any amount owing to it by the Customer against any amount payable by the Broker to the Customer.
All Services between the Broker and the Customer shall remain confidential.
8) Limitation of Liability
8.1) Nothing in these Conditions shall limit or exclude the Broker’s liability for:
(a) death or personal injury caused by its negligence, or the negligence of its employees, agents or subcontractors;
(b) fraud or fraudulent misrepresentation; or
(c) breach of the terms implied by section 2 of the Supply of Goods and Services Act 1982 (title and quiet possession).
8.2) Subject to clause 8.1:
(a) the Broker shall under no circumstances whatever be liable to the Customer, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with the Contract; and
(b) the Broker’s total liability to the Customer in respect of all other losses arising under or in connection with the Contract, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the amount invoiced for the Services..
8.3) Except as set out in these Conditions, all warranties, conditions and other terms implied by statute or common law are, to the fullest extent permitted by law, excluded from the Contract.
8.4) This clause 8 shall survive termination of the contract
9) Consequences of Termination
On termination of the Contract for any reason:
(a) the accrued rights, remedies, obligations and liabilities of the parties as at expiry or termination shall not be affected, including the right to claim damages in respect of any breach of the Contract which existed at or before the date of termination or expiry; and
(b) clauses which expressly or by implication have effect after termination shall continue in full force and effect.
10.1) Force majeure:
(a) For the purposes of this Contract, Force Majeure Event means an event beyond the reasonable control of the Broker including but not limited to strikes, lock-outs or other industrial disputes (whether involving the workforce of the Broker or any other party), failure of a utility service or transport network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or default of Brokers or subcontractors.
(b) The Broker shall not be liable to the Customer as a result of any delay or failure to perform its obligations under this Contract as a result of a Force Majeure Event.
(c) If the Force Majeure Event prevents the Broker from providing any of the Services for more than 30 weeks, the Broker shall, without limiting its other rights or remedies, have the right to terminate this Contract immediately by giving written notice to the Customer.
(a) If a court or any other competent authority finds that any provision of the Contract (or part of any provision) is invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed deleted, and the validity and enforceability of the other provisions of the Contract shall not be affected.
(b) If any invalid, unenforceable or illegal provision of the Contract would be valid, enforceable and legal if some part of it were deleted, the provision shall apply with the minimum modification necessary to make it legal, valid and enforceable.
10.3) Third parties: A person who is not a party to the Contract shall not have any rights under or in connection with it.
10.4) Governing law and jurisdiction: This Contract, and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims), shall be governed by, and construed in accordance with, English law, and the parties irrevocably submit to the exclusive jurisdiction of the courts of England and Wales.