Last revised: 2 September, 2022
These Terms of Service (hereinafter referred to as “TOS”) are applicable to any agreements between ECNG Digital UAB, acting under brand name Tunell and ECNG Digital.
Please read the TOS carefully as they govern your use of Services. As with any asset, the values of Virtual currencies (as defined below) may fluctuate significantly and there is a substantial risk of economic losses when purchasing, selling, holding or investing in Virtual currencies.
VIRTUAL CURRENCIES ARE NOT CURRENTLY REGULATED BY THE BANK OF LITHUANIA OR ANY OTHER AUTHORITY IN THE REPUBLIC OF LITHUANIA. YOU SHOULD CAREFULLY CONSIDER WHETHER DEALING WITH VIRTUAL CURRENCIES IN ANY WAY IS SUITABLE FOR YOU IN LIGHT OF YOUR CIRCUMSTANCES AND FINANCIAL RESOURCES.
BY MAKING USE OF SERVICES, YOU ACKNOWLEDGE AND AGREE THAT: (1) YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTIONS OF VIRUTAL CURRENCIES; (2) YOU SHALL ASSUME ALL RISKS RELATED TO THE USE OF SERVICES AND TRANSACTIONS OF VIRTUAL CURRENCIES; AND (3) WE SHALL NOT BE LIABLE FOR ANY SUCH RISKS OR ADVERSE OUTCOMES.
By accessing, using or attempting to use Services in any capacity, you acknowledge that you accept and agree to be bound by these TOS. If you do not agree, do not access Website or utilize Services.
Account – a Customer record, linking the identity of the Customer to all their Asset balances and transactions. An account is assigned with a unique Account / Customer ID.
AML – set of procedures, laws, and regulations designed to prevent money laundering and terrorism financing.
Asset or Funds – Fiat, and digital assets such as Virtual currencies – coins and tokens.
Customer – an individual or legal entity that uses the Services, agrees to follow TOS and is a holder of an Account. “You” or “your” within these TOS are all references to the Customer.
Fiat – government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law.
Parties – Service Provider and Customer, both sides of these TOS.
Party – Service Provider or Customer, one of the sides of these TOS.
Platform – web-based environment created by the Service Provider that allows you to access the Services electronically in accordance with these TOS.
Service Provider – refer to all parties that run Platform, including but not limited to ECNG Digital UAB, registration code 305940403, legal address Eišiškių Sodų 18-oji g. 11, LT-02194 Vilnius, Lithuania that provide Services and are responsible for such services. “Us”, “we”, “our/s” are all references to the Service Provider.
UNDER THESE TOS, SERVICE PROVIDER MAY CHANGE AS BUSINESS ADJUSTS, IN WHICH CASE, THE CHANGED SERVICE PROVIDER SHALL PERFORM THEIR OBLIGATIONS UNDER THESE TOS WITH YOU AND PROVIDE SERVICES TO YOU, AND SUCH CHANGE DOES NOT AFFECT YOUR RIGHTS AND INTERESTS UNDER THESE TOS. ADDITIONALLY, THE SCOPE OF SERVICE PROVIDERS MAY BE EXPANDED DUE TO THE PROVISION OF NEW SERVICES, IN WHICH CASE, IF YOU CONTINUE TO USE SERVICES, IT IS DEEMED THAT YOU HAVE AGREED TO JOINTLY EXECUTE THESE TOS WITH THE NEWLY ADDED SERVICE PROVIDERS. IN CASE OF A DISPUTE, YOU SHALL DETERMINE THE ENTITIES BY WHICH THESE TOS ARE PERFORMED WITH YOU AND THE COUNTERPARTIES OF THE DISPUTE, DEPENDING ON THE SPECIFIC SERVICES YOU USE AND THE PARTICULAR ACTIONS THAT AFFECT YOUR RIGHTS OR INTERESTS.
Services – refers to various services provided to you by us that are based on internet and/or blockchain technologies and offered via Platform, Website, application programming interfaces and other forms (including new ones enabled by future technological development). Services include but are not limited to such Platform components as services of exchanging Virtual currency-to-Virtual currency, Virtual currency-to-Fiat exchange services, Fiat-to-Virtual currency exchange services, payment processing in Virtual currencies and novel services to be provided by us.
TOS – these Terms of Service of the Service Provider (also referred to as the agreement or the Contract), regulating relationships between the Service Provider and the Customer.
Order – your instruction to us to carry out a certain type of operation with your Assets.
Virtual currency – digital representation of value which uses blockchain, decentralized ledger and cryptographic means for validation of ownership and validation of transactions (i.e. Bitcoin, Ethereum, etc.).
Website – our website’s address: https://ecng.digital/.
A. a singular word includes the plural and vice versa;
B. a word which suggests one gender includes the other gender;
C. if a word or phrase is defined, its other grammatical forms have a corresponding meaning;
D. a reference to a document or agreement (including a reference to this document) is to that document or agreement as amended, supplemented, varied or replaced;
E. a reference to legislation or to a provision of legislation (including subordinate legislation) is to that legislation as amended, re-enacted or replaced, and includes any subordinate legislation issued under it;
F. a reference to ‘day’ or ‘month’ means calendar day or month;
G. words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.
1.1 These TOS constitute a legal agreement and create a binding contract between you and us. In addition to the TOS, relationships pertaining to the usage of Services shall also be governed by mandatory laws and other legal acts of the Republic of Lithuania.
1.3 We reserve the right to change or modify these TOS in our discretion at any time. We will notify such changes by updating the TOS on our Website. ANY AND ALL MODIFICATIONS OR CHANGES TO THESE TOS WILL BECOME EFFECTIVE UPON PUBLICATION ON THE WEBSITE OR RELEASE TO CUSTOMER. THEREFORE, YOUR CONTINUED USE OF SERVICES IS DEEMED YOUR ACCEPTANCE OF THE MODIFIED AGREEMENT AND RULES. IF YOU DO NOT AGREE TO ANY CHANGES TO THESE TOS, YOU MUST STOP USING SERVICES IMMEDIATELY. YOU ARE RECOMMENDED TO FREQUENTLY REVIEW THESE TOS TO ENSURE YOUR UNDERSTANDING OF THE TERMS AND CONDITIONS THAT APPLY TO YOUR ACCESS TO AND USE OF SERVICES.
1.4 BY ACCESSING AND USING SERVICES, YOU REPRESENT AND WARRANT THAT YOU HAVE NOT BEEN INCLUDED IN ANY TRADE EMBARGOES OR ECONOMIC SANCTIONS LIST. WE RESERVE THE RIGHT TO CHOOSE MARKETS AND JURISDICTIONS TO CONDUCT BUSINESS, AND MAY RESTRICT OR REFUSE, IN OUR DISCRETION, THE PROVISION OF SERVICES IN CERTAIN COUNTRIES OR REGIONS.
2.1 We offer you Virtual currencies exchange-related Services. As further detailed in Article 3 below, Customer must register and open an Account with us.
2.2 Although we have been committed to maintaining the accuracy of the information provided through our Services, we cannot and do not guarantee its accuracy, applicability, reliability, integrity, performance or appropriateness, nor shall we be liable for any loss or damage that may be caused directly or indirectly by your use of these contents. The information about Services may change without notice, and the main purpose of providing such information is to help Customer make independent decisions. We do not provide investment or consulting advice of any kind, and are not responsible for the use or interpretation of information on Website or any other communication medium. Our Customer must understand the risks involved in Virtual currencies trading, and are recommended to exercise prudence and responsibly within its own capabilities.
3.2 By registering an Account, you represent and warrant that (i) as an individual, you are at least 18 or are of legal age to form a binding contract under applicable laws; (ii) as an individual, legal person, or other organization, you have full legal capacity and sufficient authorizations to enter into these TOS; (iii) you have not been previously suspended or removed from using Services. If you act as an employee or agent of a legal entity, and enter into these TOS on their behalf, you represent and warrant that you have all the necessary rights and authorizations to bind such legal entity; (iv) your use of Services will not violate any and all laws and regulations applicable to you, including but not limited to regulations on AML, anti-corruption, and counter-terrorist financing. Please note that some Services may not be available in certain jurisdictions or regions or to certain Customer. We reserve the right to change, modify or impose additional restrictions at its discretion at any time.
AFTER REGISTRATION, YOU MUST ENSURE THAT THE INFORMATION IS TRUE, COMPLETE, AND TIMELY UPDATED WHEN CHANGED. IF THERE ARE ANY GROUNDS FOR BELIEVING THAT ANY OF THE INFORMATION YOU PROVIDED IS INCORRECT, FALSE, OUTDATED OR INCOMPLETE, WE RESERVE THE RIGHT TO SEND YOU A NOTICE TO DEMAND CORRECTION, DIRECTLY DELETE THE RELEVANT INFORMATION, AND, AS THE CASE MAY BE, TERMINATE ALL OR PART OF SERVICES WE PROVIDE FOR YOU. YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE THE OBLIGATION TO UPDATE ALL THE INFORMATION IF THERE IS ANY CHANGE. AT OUR REQUEST, YOU MUST ALSO SUBMIT ANY DOCUMENTS (ORIGINALS, DULY CERTIFIED PAPER COPIES OR SCANNED COPIES) SUPPORTING SUCH CHANGES IN INFORMATION OR CIRCUMSTANCES, IRRESPECTIVE OF WHETHER SUCH INFORMATION OR DOCUMENTS HAVE BEEN PROVIDED TO PUBLIC REGISTERS. BY REGISTERING AN ACCOUNT, YOU HEREBY AUTHORIZE US TO CONDUCT INVESTIGATIONS THAT WE CONSIDER NECESSARY, EITHER DIRECTLY OR THROUGH A THIRD PARTY, TO VERIFY YOUR IDENTITY OR PROTECT YOU, OTHERS AND/OR US FROM FRAUD OR OTHER FINANCIAL CRIMES, AND TO TAKE NECESSARY ACTIONS BASED ON THE RESULTS OF SUCH INVESTIGATIONS.
3.4 The Account can only be used by the Account registrant. We reserve the right to suspend, freeze or cancel the use of an Account by persons other than Account registrant. If you suspect or become aware of any unauthorized use of your username and password, you should notify us immediately. We assume no liability for any loss or damage arising from the use of Account by you or any third party with or without your authorization.
3.5 We have been committed to maintaining the security of Customer entrusted Funds, and have implemented industry standard protection for Services. You shall agree to treat your access credentials (such as username and password) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking the necessary security measures to protect your Account and personal information. You should be solely responsible for keeping safe of your Account and password, and be responsible for all the transactions under your Account. We assume no liability for any loss or consequences caused by authorized or unauthorized use of your Account credentials, including but not limited to information disclosure, information release, consent or submission of various rules and agreements by clicking on the Website, etc.
4.1 Upon completion of the registration and identity verification for your Account, you are granted an access to the Platform, where you may use various Services, including but not limited to Virtual currency-to-Virtual currency exchange services, Virtual currency-to-Fiat exchange services, Fiat-to-Virtual currency exchange services, payment processing in Virtual currencies, acquiring market-related data, research and other information released by us, etc., in accordance with the provisions of these TOS (including Platform rules (if any) and other individual agreements) and paying us applicable fees and other costs for using these Services.
4.2 The fees for using our Services consist of spread (difference in the sell and the buy price) and other fees specified in the Platform. We may, in our discretion, update the fees at any time. You authorize us to deduct from your Account any applicable fees that you owe under these TOS.
4.3 The Parties agree that all deposits received from you are considered as a pre-funding of intended exchange operations. Any unused balances resulting from deposits, or exchange operations at the end of the business day will be rolled over as pre-funding for the next business day on a continuous basis. Nevertheless, we shall ensure the swift exchange of the Assets as well as safety of your Assets, you acknowledge that we do not offer a Service of storing Funds for any purpose and are not acting as a wallet provider, a banking institution, or any other type of institution whose service is safekeeping of Assets. The only purpose of holding the Customer’s Funds is to guarantee/fund the intended exchange operations.
4.4 We have the right to: i) provide, modify or terminate, in our discretion, any Services or part of Services (e.g., support for any Virtual currency) based on our development plan; and ii) allow or prohibit Customer use of any Services as per our sole discretion. We do not provide any Services subject to authorization requirements under the laws of the Republic of Lithuania in line with the Position Paper on Virtual Assets and Initial Coin Offerings of the Bank of Lithuania adopted on 21 January 2019.
4.5 When you use Services, you agree and undertake to comply with the following provisions: i) during the use of Services, all activities you carry out should comply with the requirements of applicable laws and regulations, these TOS, and various Platform rules (if any); ii) your use of Services should not violate public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prohibit others from using Services; iii) you do not use / intend to use the Services for anything that is unlawful, malicious or that could disable, overburden, or impair the proper working of the Platform or Website or may hurt our reputation or otherwise pose any threat to us.
4.6 By accessing Services, you agree that we have the right to investigate any violation of these TOS, unilaterally determine whether you have violated these TOS, and take actions under relevant regulations without your consent or prior notice. Examples of such actions include, but are not limited to: i) freezing your Account; ii) reporting the incident to the authorities; iii) publishing the alleged violations and actions that have been taken.
5.1 You may conduct the deposits, withdrawals and exchange (buy or sell) of Assets by submitting Orders to us as described in the TOS. You may submit the following Orders using our Platform: a) Order for deposit of Asset to your Account from an account you hold with a financial institution, your debit or credit card or other means of payment, which is approved by us and available for you in the Platform or application programming interfaces; b) Order for withdrawal of Asset from your Account to an account you hold with a financial institution, your debit or credit card or other means of payment, which is approved by us and available for you in the Platform or application programming interfaces; c) Order for exchange (buy or sell) of Assets (Virtual currency-to-Virtual currency, Fiat-to-Virtual currency or Virtual currency-to-Fiat) within your Account; d) combined Order for deposit of Virtual currency and exchange (sell) of deposited Virtual currency (available in the Platform or application programming interfaces at request); e) combined Order for exchange (sell) of Assets and withdrawal of Virtual currency (available in the Platform or application programming interfaces at request); f) other type of Orders provided by us and available for you in the Platform or application programming interfaces.
5.2 The conditions (quotation) of Assets exchange are requested and received via the Platform or by communicating us directly as described in Article 19 of these TOS. Having received the quotation, you shall make a discretionary decision to submit an Order for Assets exchange. We do not guarantee the availability of any quotation from us. We do not guarantee that you will be able to exchange Virtual currency at any particular price or time. You acknowledge that the quotation to buy the Virtual currency may not be the same as the quotation to sell the Virtual currency at any given time.
5.3 Having submitted combined Order as per clause 5.1.d or 5.1.e, the Asset exchange will be performed automatically without requesting any additional confirmation from you.
5.4 When submitting the Order (including combined Order) via the Platform or application programming interfaces, you shall fully understand the conditions of the Service offered to you. You shall also understand and anticipate the consequences of Order execution, and irreversibility of Order execution.
5.5 The confirmation of Order execution will be sent to you as described in Article 19 of these TOS and available in the Platform for your information.
5.6 We may charge you a fee for each Order we execute for you.
5.7 The submission of an Order for an operation with the Asset by you does not guarantee the fulfillment of the Order. We retain the right not to execute the Order: i) if the conditions of the Order do not comply with the previously reached understanding between the Parties in our communication; ii) if we are unable to execute the Order due to changes in the market conditions or other reasons which make the execution impossible at the conditions demanded by you.
5.8 You acknowledge and confirm that an Order’s (including combined Order’s) execution may be delayed or declined if required under applicable law, including if we have an AML concern, or due to external factors, such as outages or delays in the Virtual currency networks or liquidity sources. We may, or may not be able to, disclose to you the reasons for such delay or rejection.
5.9 We may charge network fees (“miner fees”) to process Virtual currency Orders. We will calculate the miner fees at our discretion. You authorize us to deduct from your Account any miner fees to process Vi rtual currency Orders. When you deposit Virtual currency to your Account, you are solely responsible for executing the transaction properly, which may include, among other things, payment of miner fees in order for the transaction to be completed successfully. Non-payment of miner fees may cause your transaction to remain in a pending state outside our control and we are not responsible for delays or loss incurred as a result of an error in the initiation of the transaction and have no obligation to assist in the remediation of such transactions. Once Order is submitted, a Virtual currency transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the Virtual currency network. A Virtual currency transaction is not complete while it is in a pending state. Virtual currency associated with Virtual currency transactions that are in a pending state will be designated accordingly and will not be included in Virtual currency balance of your Account or be available to conduct Virtual currency transactions until confirmed by the network.
6.1 In case you decide to integrate the application programming interfaces and / or plug-ins in your website and / or system, you do so at your own full risk and cost. IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES OR ANY LOSS, THEFT, DISAPPEARANCE, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST DATA OR OTHER INTANGIBLE LOSSES THAT RESULT FROM THE SAID INTEGRATION.
7.1 TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, OUR SERVICES ARE OFFERED ON AN “AS IS” AND “AS AVAILABLE” BASIS, AND WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ANY AND ALL OTHER WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT OR WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE. WITHOUT LIMITING THE FOREGOING, WE DO NOT REPRESENT OR WARRANT THAT THE WEBSITE, PLATFORM OR SERVICES ARE ACCURATE, COMPLETE, RELIABLE, CURRENT, ERROR-FREE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. WE DO NOT GUARANTEE THAT ANY ORDER WILL BE EXECUTED OR ACCEPTED. EXCEPT FOR THE EXPRESS STATEMENTS, AGREEMENTS AND RULES SET FORTH IN THESE TOS, YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE NOT RELIED UPON ANY OTHER STATEMENT OR AGREEMENT, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF SERVICES. WITHOUT LIMITING THE FOREGOING, YOU HEREBY UNDERSTAND AND AGREE THAT WE WILL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO: (A) ANY INACCURACY, DEFECT OR OMISSION OF VIRTUAL CURRENCY PRICE DATA, (B) ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA, (C) INTERRUPTION IN ANY SUCH DATA, (D) REGULAR OR UNSCHEDULED MAINTENANCE CARRIED OUT BY US OR THIRD PARTIES AND SERVICE INTERRUPTION AND CHANGE RESULTING FROM SUCH MAINTENANCE, (E) ANY DAMAGES INCURRED BY OTHER CUSTOMER’S ACTIONS, OMISSIONS OR VIOLATION OF THESE TOS, (F) ANY DAMAGE CAUSED BY ILLEGAL ACTIONS OF OTHER THIRD PARTIES OR ACTIONS UNAUTHORIZED BY US; AND (G) OTHER EXEMPTIONS MENTIONED IN DISCLAIMERS AND PLATFORM RULES (IF ANY) ISSUED BY US. THE DISCLAIMER OF IMPLIED WARRANTIES CONTAINED HEREIN MAY NOT APPLY IF AND TO THE EXTENT IT IS PROHIBITED BY APPLICABLE LAW OF THE JURISDICTION IN WHICH YOU RESIDE.
8.1 TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL SERVICE PROVIDER, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS BE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR SIMILAR DAMAGES OR LIABILITIES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF DATA, INFORMATION, REVENUE, PROFITS OR OTHER BUSINESSES OR FINANCIAL BENEFITS) ARISING OUT OF SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF SERVICES, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES EXCEPT TO THE EXTENT OF A FINAL JUDICIAL DETERMINATION THAT SUCH DAMAGES WERE A RESULT OF OUR GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT OR INTENTIONAL VIOLATION OF LAW. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
8.2 WITHOUT ANY LIMITATION OF OTHER TERMS IN THESE TOS, YOU ACKNOWLEDGE THAT WE BEAR NO LIABILITY FOR ANY DAMAGE, LOSS (INCLUDING LOSS OF PROFIT), DELAY, INCONVENIENCE, FAILURE IN PERFORMANCE OR INTERRUPTION OF THE USE OF SERVICES, IN EACH CASE CAUSED BY OR RESULTING FROM (DIRECTLY OR INDIRECTLY): I) ANY COMPUTER VIRUS, SPYWARE, SCAREWARE, TROJAN HORSE, WORMS OR OTHER MALWARE OR CYBER, PHISHING OR SPOOFING ATTACK THAT MAY AFFECT YOUR COMPUTER OR OTHER DEVICE; II) ANY “HARD FORK”, “SOFT FORK”, OR OTHER CHANGE IN THE OPERATING RULES OF AN UNDERLYING VIRTUAL CURRENCY NETWORK; III) ANY OTHER CAUSE OR CONDITION BEYOND OUR REASONABLE CONTROL.
8.3 NOTWITHSTANDING THE FOREGOING, IN NO EVENT WILL THE LIABILITY OF SERVICE PROVIDER, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS ARISING OUT OF SERVICES OFFERED BY OR ON BEHALF OF US AND ITS AFFILIATES, ANY PERFORMANCE OR NON-PERFORMANCE OF SERVICES, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY, EXCEED THE AMOUNT OF THE FEES PAID BY YOU TO SERVICE PROVIDER UNDER THESE TOS IN THE TWELVE-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.
9.1 You agree to indemnify and hold harmless Service Provider, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to (i) your use of, or conduct in connection with, Services, (ii) your breach or our enforcement of these TOS, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of Services. If you are obligated to indemnify Service Provider, its affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to these TOS, we will have the right, in our sole discretion, to control any action or proceeding and to determine whether we wish to settle, and if so, on what terms.
11.1 In case of any of the following events, we shall have the right to directly terminate these TOS by cancelling your Account, and shall enjoy the right but not the obligation to permanently freeze (cancel) the authorizations of your Account on Platform and withdraw the corresponding Account thereof: i) after we terminate Services to you; ii) the information that you have provided is untruthful, inaccurate, outdated or incomplete; iii) when these TOS are amended, you state your unwillingness to accept the amended TOS by applying for cancellation of your Account or by other means; iv) you request that Services be terminated by communicating us directly as described in Article 19 of these TOS; and v) any other circumstances where Service provider deems it should terminate Services.
11.2 Should your Account be terminated, the Account and transactional information that meet data retention standards will be securely stored for ten (10) years. In addition, if a transaction is unfinished during the Account termination process, we shall have the right to notify your counterparty of the situation at that time. You acknowledge that a user-initiated Account exit will also be subjected to the termination protocol stated above.
11.3 Upon the termination of your Account for whatever reason: (i) all rights granted herein shall terminate immediately; (ii) each Party shall promptly return to the other Party, or destroy and certify the destruction of all Confidential Information (as specified under Article 20 of these TOS) to the other Party, if any (unless retention of such information is required by applicable laws or foreseen in these TOS or related documents); (iii) each Party shall remit in full all payments due to another Party according to these TOS accruing prior to the date of termination, and following such final payment, neither Party will be entitled to receive any payment from the other Party; (iv) any provision of these TOS that by its very nature or context is intended to survive any termination, cancellation or expiration hereof, shall so survive; and (v) all other performance obligations of both Parties under these TOS shall cease.
11.4 Termination of your Account shall not exempt you from the due discharge of all obligations to us arising before the date of termination.
11.5 The termination of your Account shall also mean the termination of your access to our Platform.
11.6 If we are informed that any Virtual currencies or Funds held in your Account originate from illicit sources or are stolen or otherwise are not lawfully possessed by you or do not originate from lawful sources, we may, but have no obligation to, permanently freeze and/or place an administrative hold on the affected Funds and your Account. If we do lay down an administrative hold on some or all of your Funds or Account, we may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to us has been provided to us in a form acceptable to us. If we do permanently freeze some or all of your Virtual currencies you will not have possibility to exchange or return these Virtual currencies forever. We will not involve ourselves in any such dispute or the resolution of the dispute. You agree that we will have no liability or responsibility for any such freeze, hold, or for your inability to withdraw Virtual currencies or Funds or execute trades during the period of any such hold.
12.1. Except as set forth in Article 13 below, once an Account is closed/withdrawn, all remaining Account balance (which includes charges and liabilities owed to us) will be payable immediately to us. Upon payment of all outstanding fees to Service Provider (if any), Customer will have 5 (five) business days to withdraw all Virtual Currencies or Funds from the Account.
13.1 We maintain full custody of the Virtual currencies, Funds and Customer data/information which may be permanently frozen and/or turned over to governmental authorities in the event of Accounts’ suspension/closure arising from fraud investigations, investigations of violation of law or violation of these TOS.
14.1 We are not your broker, intermediary, agent, or advisor and have no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using Services. No communication or information provided to you by Service provider is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. You should consult legal or tax professionals regarding your specific situation. We do not recommend that any Virtual currencies should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any Virtual currency, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. We will not be held responsible for the decisions you make to buy, sell, or hold Virtual currencies.
15.1 It is Customer’s responsibility to abide by local laws in relation to the legal usage of Services in their local jurisdiction as well as other laws and regulations applicable to Customer. Customer must also factor, to the extent of their local laws all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities.
CUSTOMER ACKNOWLEDGES AND DECLARES THAT THEIR FUNDS COME FROM LEGITIMATE SOURCES AND DO NOT ORIGINATE FROM ILLEGAL ACTIVITIES; CUSTOMER AGREES THAT WE WILL REQUIRE THEM TO PROVIDE OR OTHERWISE COLLECT THE NECESSARY INFORMATION AND MATERIALS AS PER RELEVANT LAWS OR GOVERNMENT ORDERS TO VERIFY THE LEGALITY OF THE SOURCES AND USE OF THEIR FUNDS.
We maintain a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate Customer’s Accounts and Funds which are flagged out or investigated by legal mandate.
16.1 To enable you use our System, we collect, use, store and otherwise process information about you as permitted by the legal acts of the Republic of Lithuania, the European Union General Data Protection Regulation (No 2016/679) and other legal acts.
16.3 We implement appropriate technical and organizational measures to protect personal data against accidental or unlawful destruction or accidental loss, alteration, unauthorized disclosure or access, in particular where the processing involves the transmission of data over a network, and against all other unlawful forms of processing.
16.4 You are obliged to inform us in writing immediately in case any information we hold about you is inaccurate or not up to date or you believe that any of the information about you is collected, used and stored by us in a manner not compliant with applicable laws.
17.1 You shall acknowledge and agree that the we will provide you with access to various documents, processes, software and other technologies and materials, to which the Service provider and/or one or more third parties related to us will hold all intellectual property rights, including (a) copyrights, rights affording protection similar to copyright, rights in databases, patents and rights in inventions, trademarks, rights in internet domain names and website addresses and other rights in trade names, designs, know-how, trade secrets and other rights in specified under Article 20; (b) all other rights having equivalent or similar effect in any country or jurisdiction in the world.
17.2 All copyrights, trademarks, patents, trade secrets and other intellectual property rights as described above relating to Service provider, Platform and Website, including the systems, platforms, software and documentation provided by us to you are the property of the Service provider and/or the third party which granted us the right to provide/supply them, shall remain at all times the sole and exclusive property of the Service provider or the relevant third party, and you shall have no right or interest in them except for the right to access and use them in order to use our Service under these TOS.
18.1 If you want to submit a complaint, you may do so by e-mail to firstname.lastname@example.org. Complaints shall be submitted (and will be responded to) in English. We commit to handle complaints fairly and promptly.
19.1 Any communication between you and us shall take place primarily via e-mails.
19.2 Disclosure of any information via e-mails shall be considered as duly submitted only if such information is sent to and from the e-mail addresses that are disclosed under these TOS: (i) Service provider’s email address that should be used for communication is registered with @ecng.digital domain name, e.g., email@example.com; (ii) Customer’s email address that should be used for the communication should be disclosed during application of the Account. Other methods of communication shall not be considered appropriate unless otherwise agreed by the Parties.
19.3 Notices and other communications sent by e-mails or other method of communication specified under clause 19.2 shall be deemed delivered to and received by the Party on the same business day it was sent (in case it is sent on a non-business day – on the earliest business day).
19.4 Under certain circumstances, especially in emergency cases, we may also contact you by using any other means of communication and contact details you have provided to us.
19.5 A Customer must immediately inform us about changes of the contact details. At the request of the Service provider, the Customer must provide the respective documents supporting the change of any contact details. If the Customer does not fulfil the duties referred to in this clause, the notifications communicated on the basis of the most recent details specified by the Customer to the Company shall be deemed as duly sent and any obligation fulfilled on the basis of such details – as duly discharged by the Service provider.
19.6 The Customer who fails to receive from the Service provider any notifications which it was to receive under these TOS or for the provision of which the Customer has submitted a separate request to the Service provider, the Customer must immediately inform the Service provider.
19.7 We shall not be responsible for any mistake, inaccuracy, technical defect or damage caused by incorrect, outdated Customer contact details and their subsequent use by us.
19.8 We shall have the right to require the Customer to provide original documents and/or copies certified by a notary or any other person authorized by the state. We shall also have a right to require that documents drawn up abroad be translated into English and/or legalized and/or attached with an Apostille, unless international treaties concluded between the Republic of Lithuania and the respective foreign country establish otherwise.
19.9 The Customer is fully liable for correctness of data, orders and documents submitted to us.
19.10 All costs of drafting, delivery, certification, notarization, apostillization and translation of documents to be provided to the Company shall be borne by the Customer.
19.11 If documents provided by the Customer to the Service provider are inconsistent with the requirements established by legal acts and/or by the Service provider, and/or if the Service provider has reasonable doubt as to the authenticity or accuracy of the submitted documents, the Service provider shall have the right to suspend your use of Services and/or to demand from the Service provider the submission of additional documents.
19.12 It is your responsibility to regularly check the proper functioning of your e-mail or other methods of communication that you use to communicate with us and to retrieve and read our messages to you. We shall not be liable for any loss arising out of your failure to do so.
20.1 The Parties acknowledge that, from time to time, the Party (the “Disclosing Party”) may disclose to the other Party (the “Receiving Party”) either directly or indirectly by way of using the Services, electronically, in writing, orally or otherwise, information which is proprietary or confidential or which would, under the circumstances, be understood by a reasonable person to be proprietary and non-public, including without limitation, technical data, know-how, trade secrets related to activities of any of the Parties, the non-public Service provider’s information and all unpublished service manuals, information, data and other similar materials or records provided by the Party to the other Party pursuant to these TOS or otherwise (hereinafter referred to as “Confidential Information”).
20.2 The Receiving Party shall use such Confidential Information solely for fulfilling its responsibilities and obligations under these TOS and for no other purposes. The Receiving Party shall retain such Confidential Information in strict confidence and shall not disclose it to any third party without the Disclosing Party’s written consent, except to the third party(-ies) engaged/contacted by the Service provider in order to ensure maintenance of Services and/or compliance with applicable legislation as well as to law enforcement.
20.3 Each Party shall use at least the same procedures and degree of care which it uses to protect its own Confidential Information of like importance, and in no event less than reasonable care, and shall be responsible and liable for any use or disclosure of the Confidential Information, including by its employees or other related persons, in violation of these TOS.
20.4 The Party shall immediately notify the other Party of any unauthorized use or disclosure, or suspected unauthorized use or disclosure of Confidential Information.
20.5 The obligations set forth in this Article shall not apply to information that the Receiving Party is able to demonstrate, through clear and convincing evidence: i) was already known to the Receiving Party without an obligation of confidentiality at the time of disclosure was generally available to the public at the time of its disclosure to the Receiving Party hereunder; ii) became generally available to the public after its disclosure other than through an act or omission of the Receiving Party in breach of these TOS; iii) was subsequently, lawfully and independently disclosed to the Receiving Party by a person other than the Disclosing Party, not in violation of the confidentiality agreement, arrangement or understanding with such person.
20.6 In the event that any disclosure of the Confidential Information is required by you pursuant to applicable law, you shall provide us a reasonable notice and opportunity to contest the need for such disclosure, or to seek a protective order therefor. If we fail to contest the need for such disclosure or to obtain a protective order, you may disclose only that portion of the Confidential Information that is legally so required to be disclosed, provided that any Confidential Information so disclosed shall maintain its confidentiality protection for all purposes other than such legally required disclosure.
20.7 You shall acknowledge and agree that the disclosure of information which may be considered as confidential to competent authorities and subcontractors of the Company as well as other persons engaged/contacted by the Service provider for the maintenance of Services and/or compliance with applicable legislation, shall not be considered as a breach of the confidentiality obligations.
21.1 Governing law. These TOS and any disputes or claims arising out of or in connection with these TOS or their subject matter or formation (including non-contractual disputes or claims) are governed by, and construed in accordance with, the laws of the Republic of Lithuania. Service provider wants to address your concerns without resorting to formal legal proceedings, if possible. If you have a dispute with Service provider, then you should contact us. We will attempt to resolve your dispute internally as soon as possible. The Parties agree to negotiate in good faith to resolve the dispute (which discussions shall remain confidential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding).
21.2 Jurisdiction. Only the courts in Vilnius, the Republic of Lithuania, shall have jurisdiction over any legal disputes arising from or in relation to these TOS.
21.3 Language. You and we shall agree that the language of these TOS as well as communication between you (or any authorized person) and us is to be English.
21.4 Enforceability. No provisions of these TOS shall be enforceable by any other person other than you and us. Even if we delay in enforcing under these TOS and agreements thereof, we retain the right to enforce it later. If we do not insist immediately that you do anything you are required to do under these TOS, or if we delay in taking steps against you in respect of your breach of these TOS, that will not mean that you do not have to do those things and it will not prevent us from taking steps against you at a later date. For example, if you miss a payment and we continue to fulfil these TOS, we can still require you to make the payment at a later date.
21.5Relationship of the Parties. The Parties are independent contractors and nothing in the TOS shall make the Parties joint venturers, partners, employees, agents or other representatives of the other Party. Neither Party shall make any representation that suggests otherwise.
21.6 Invalidity. If a court finds part of these TOS illegal, the rest will continue in force. Each of the Articles and clauses of these TOS operate separately. If any court or relevant authority decides that any of them are unlawful, the remaining Articles and clauses will remain in full force and effect.
21.7 Entire Agreement. This is our entire agreement with you. These TOS and any documents referred to in them, constitute the whole agreement between the Parties and supersede any previous arrangement, understanding or agreement between them relating to the subject matter they cover. The Parties may agree on additional conditions which are not provided in these TOS, by a separate written agreement. Such agreement shall become an integral part of these TOS.
21.8 Interpretation and Revision. We reserve the right to alter, revise, modify, and/or change these TOS at any time. All changes will take effect immediately upon being published on the Website. It is your responsibility to regularly check relevant pages on our Website to confirm the latest version of these TOS. If you do not agree to any such modifications, your only remedy is to terminate your usage of Services and cancel your Account. You agree that, unless otherwise expressly provided in these TOS, we will not be responsible for any modification or termination of Services by you or any third party, or suspension or termination of your access to Services.
21.9 Force Majeure. We will not be liable for any delay or failure to perform as required by these TOS because of any cause or condition beyond our reasonable control.
21.10 Transfer of Rights. You need our written consent to transfer your rights and obligations under these TOS, including, but not limited to, to transfer your access to the Services or the Account to any third person.
21.11 We reserve the right to assign our rights and obligations arising out of these TOS to third parties at any time without your consent if such transfer of rights and obligations does not contradict the legislation. We will inform you of such assignment within 10 (ten) calendar days after the assignment.
21.13 Survival. Any right or obligation of the Parties in these TOS, which, by its express terms or nature and context is intended to survive termination of these TOS, will survive any such termination.