Terms & Conditions

TABLE OF CONTENTS

  1. 1. ELIGIBILITY AND PROHIBITION OF USING OUR SERVICES

  2. 2. DESCRIPTION OF OUR SERVICES

  3. 3. USERS' RIGHT AND LIMITATIONS TO LICENSE USE

  4. 4. USER OBLIGATIONS

  5. 5. FEES

  6. 6. ASSET SERVICES

  7. 7. CUSTODIAL SERVICE

  8. 8. TRANSACTION LIMITS, SOURCE OF FUNDS

  9. 9. SUSPENSION, TERMINATION AND CANCELLATION

  10. 10. CHANGE, INTERRUPTION, TERMINATION, AND DISCONTINUANCE OF SERVICES

  11. 11. COMPLIANCE WITH YOUR LOCAL LAWS

  12. 12. REFERENCE TO PRIVACY POLICY

  13. 13. INDEMNITY

  14. 14. GOVERNING LAW

  15. 15. JURISDICTION AND DISPUTE RESOLUTION

  16. 16. GENERAL FEEDBACK AND MISCELLANEOUS

Fasset Technology. Ltd is a UAE registered company (“Fasset”).

By creating an account on the website or by visiting it, it would be deemed that you have agreed to the terms and conditions laid down in this document. If you do not agree to be bound by these terms, do not access or use the Services.

Fasset reserves the right to change or modify the terms and conditions contained in this document, including but not limited to any policy or guideline of the platform, at any time and at our sole discretion. We will provide notice of these changes by posting the revised Terms through means as determined by us at our sole discretion. Any changes or modifications will be effective immediately upon posting the revisions to the website or at the instant that we transmit the information.

Fasset reserves the right to change or modify the terms and conditions contained in this document, including but not limited to any policy or guideline of the platform, at any time and at our sole discretion. We will provide notice of these changes by posting the revised Terms through means as determined by us at our sole discretion. Any changes or modifications will be effective immediately upon posting the revisions to the website or at the instant that we transmit the information.

If you do not agree to the terms in effect when you access or use the platform then you must stop using our services. We encourage you to frequently review the terms to ensure that you understand the terms and conditions that apply to your access to, and use of, the Services.

You should read the terms and conditions, and any document referred to in them very carefully. If there is anything that you do not understand in the terms and conditions and any document referred to herein, you should discuss this matter with us and seek the necessary clarification.

Any formal communication with you will be undertaken through electronic mail unless otherwise instructed. Documents will be sent to you by electronic mail and you should seek to send any documents to us by the same means.

Any formal communication with you will, unless otherwise agreed, be made in the English language. In the event of any discrepancy between the English language version of the terms or any such communications and any translation of the terms or such communications (as applicable) in a foreign language, the respective English version shall prevail.

If you conduct any transactions through the Site, each such transaction may be subject to additional terms and conditions which you will be directed to read and accept at the applicable time. To the extent there is any inconsistency between these Terms and the additional terms and conditions applicable to a specific transaction, the additional terms and conditions applicable to the specific transaction shall apply to that specific transaction and any matters connected with it or arising therefrom.

Disclaimer:

Fasset, under any condition, does not and cannot guarantee the value of a digital asset. You acknowledge and agree that the value of a digital asset is subject to high levels of volatility and that purchasing, selling, and holding digital assets involves risk. You should be aware that the value of a digital asset can change rapidly, and even decrease.

    1.   ELIGIBILITY AND PROHIBITION OF USING OUR SERVICES

To be eligible to create an account with Fasset and use any of the services (“Services”), you must meet and continue to meet the following criteria:

  1. in case of individuals, you are 18 years or older, with legal capacity of entering into a valid and binding contract with us, and under no legal, contractual or other restriction or incapacity from accessing and/or using the site;

  2. in case of non-individuals, you are a registered and duly formed or incorporated corporation, legal person, entity or other organization represented by its duly authorized representative having authority from such corporation, legal person, entity or other organization to access and/or use the site and form a binding agreement with us on its behalf;

  3. you have not been suspended, barred or restricted from accessing the site or any other exchange in the past;

  4. you are not part of the United States Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons List , and/or are not otherwise subject to any sanctions or restrictions which disallow you from using and/or accessing the Site or which may affect our ability to provide you with our products and services;

  5. you have the full power and authority to agree to the Terms, and to enter into any transactions or use any service offered on the Site;

  6. all information and documentation provided by you to us for the purposes of accessing and using the Site as well as for availing services and entering into transactions on the Site is true and accurate and it is not incomplete or misleading and that if such information or documentation becomes untrue, inaccurate, incomplete or misleading at any point in future, you will immediately inform us of the same as soon as you become aware that the same is no longer true, accurate, complete and not misleading, including the date on which the correctness or veracity of the same changed;

  7. you will enter into transactions by utilizing only legally obtained digital assets and/or fiat currencies that belong to you without any encumbrances, and you will have full legal and beneficial rights and title to any such assets and/or fiat currencies at the time you transfer them to us or any third parties using the Site;

  8. you are not a citizen or a resident of or located in, a state, country, territory, region, city, locality, county or other jurisdiction in which access and/or use of the Site or any functionalities, products or services on the Site would be restricted, illegal or otherwise contravene any Applicable Laws (“Restricted Territory”), and have not used technology or any other means including without limitation Tor, VPN or remote access software to misrepresent your geographical location to access the Site; and

  9. You agree that each time before accessing or using the Site and/or Services you will ensure that you are not doing so from a Restricted Territory and would not be breaking any Applicable Laws, rules or regulations in any jurisdiction including in any Restricted Territory, by doing so.

It is possible that we may not make all of the Services available in all markets and jurisdictions, and may restrict or prohibit use of all or a portion of the Services from restricted locations. The content of the terms shall not be excluded from the laws of the country or region under which the user belongs. As a result, if you do not meet these eligibility requirements, do not use our services.

    2.   DESCRIPTION OF OUR SERVICES

We provide an online trading platform to trade VFAs (or also known as virtual financial assets, cryptographic tokens or digital tokens or cryptographic currency) and derivatives linked to VFAs or indices thereof. Buyers and sellers conduct trading on our platform with each other; Fasset as the platform provider is not a buyer or seller in these transactions. Users may request the withdrawal of their VFAs, subject to the limitations as stated in the Terms. Users will be able to access their VFAs in their wallets, which are held and safe-kept by Fasset.

Fasset provides the user with trading services including:

SERVICES

2.1   Asset Services. The following services (the "Asset Services") may be provided to you by Fasset:

  1.   one or more Accounts on the Fasset Exchange enabling you to access and use your Wallet, and to view and track your balances of Assets and Fiat Currency;

  2.   one or more wallets on the Fasset Exchange (“Wallet”) enabling you to store, track, transfer, and manage your balances of Assets and Fiat Currency; and

  3.   Enabling you to obtain prices for your purchases, sales and swaps of Assets,) place orders for, and/or carry out any purchases or sales or swaps of Assets on the Fasset Exchange or otherwise on the Site (including services such as the P2P trading platform (also known as the peer-to-peer trading platform), subject to the Terms and your compliance thereof.

2.2   Custodial Services. You hereby appoint us to act as your custodian to hold the Assets and Fiat Currency for you and Fasset shall accordingly act as a custodian to hold Assets and Fiat Currency for you and all users on the Site in accordance with the terms and conditions of the Terms (“Custodial Services”). The Custodial Services are limited to those set out in the Terms and may be provided by any entity in the Fasset Group or by a third party, at the sole discretion of Fasset.

2.3   Fasset Group may use certain service providers to make certain Services, functions or information available to the user. We may change any service provider at any time without prior notice. In addition to the Terms, your access and use of the Site and Services is subject to the terms and conditions imposed by relevant third parties from time to time, as notified to you as per the terms of the Terms for such Communication.

By accepting the terms and conditions, you expressly agree to the pooling of your VFAs with the VFAs of other users. Individual user entitlements may not be identifiable by separate physical documents of title or other electronic record and, in the case of an irreconcilable shortfall, you may not receive your full entitlement and may share in the shortfall pro rata.

You represent and warrant that you are, and shall remain at all times, the ultimate and effective legal and beneficial owner of any VFAs held by Fasset, that you shall not act as nominee or trustee for any other person and that you shall not transfer, assign, pledge, charge or otherwise create any security interest or encumbrance whatsoever over such VFAs without the prior written consent of Fasset.

Fasset, as applicable, shall not be obliged to accept orders unless sufficient VFAs are available on the account for (a) the settlement of the relevant order, (b) the provision of margin as may be required in respect of relevant transaction in derivatives, and (c) the payment of any related charges and expenses as applicable.

Accuracy: While we have made every effort to ensure the accuracy of the information on our website, the information and content on the website is subject to change without notice and is provided for the sole purpose of assisting users to make independent decisions. We have taken reasonable measures to ensure the accuracy of the information on the website; however, we do not guarantee the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any services or products available through the website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through our platform. We will not have any liability for the use or interpretation of such information.

Users shall prepare devices and bear costs as follows: 1) internet-connected device, including but not limited to computer or other internet-connected terminals; 2) internet-accessing costs, including but not limited to internet fees, rental charges for internet-connected equipment’s, cellular data fees, etc.

You hereby authorize us to send commercial information to you via e-mail, SMS, mobile notification, or mailing address. You can opt out of such services by changing relevant settings on the website.

You acknowledge and consent that the services are provided by us according to its current technological capacity and other conditions. While we have made every effort to ensure continuity and security of the services, we are unable to completely foresee and hedge legal, technological and other risks including but not limited to force majeure, virus, hacker attack, system instability, flaw in third-party services, act of government, etc. that may result in service interruption, data loss and other losses and risks.

When the system platform is unable to operate properly because of the following circumstances and the user is unable to access the devices or place or cancel an order, we assume no liability for damages. These circumstances include, but are not limited to:

  • 1.   System downtime during maintenance as announced by our platform;

  • 2.   Telecom or networking equipment issues;

  • 3.   Typhoon, earthquake, tsunami, flood, power failure, war, terrorist attacks, and other force majeure factors;

  • 4.   Any other issues, including hacker attacks, computer virus intrusion or attack, website or backend maintenance and upgrade, banking related issues, government regulation or mandates, and any other third party issues;

  • 5.   Damages to users or other third parties caused by third parties.

For abnormal transactions, market interruption and other abnormal conditions caused by system failure, network failure, distributed denial of service attacks (DDos) and other hacker attacks and other unexpected factors, we have the right to cancel the abnormal transaction results.

Abnormal transaction handling: You agree and acknowledge the possibility of discontinuity and disruption of the services due to connectivity problems of the VFA networks or other force majeure. Fasset does not assume any responsibility for any losses caused by the aforementioned situations due to your providing incorrect information that results in our inability reaching out and explaining to You the handling procedures.

We have the right to know the purpose and background of the users who use our products or services. Users should provide comprehensive and accurate information as required. If we have reasonable grounds to suspect that the user has provided false trading information, we are entitled to restrict the user from the use of some or all of our products and services temporarily or permanently.

    3.   USERS' RIGHT AND LIMITATIONS TO LICENSE USE

We grant you a limited, nonexclusive, non-transferable license, subject to the terms, to access and use our website and services, solely for approved purposes as permitted by us. You agree that 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 our products and Services.

You agree that:

  • All rights, title and interest in the service and associated software, website and technology, including all intellectual property rights therein, are and shall remain with the Parties;

  • No right or interest in the service is conveyed other than the limited licenses granted herein;

  • The Services are protected by the copyright and other intellectual property laws;

  • All rights not expressly granted in these terms are reserved.

Fasset has the right to inquire, freeze or deduct the items and accounts of the User in accordance with the requirements of any applicable judicial organizations, administrative organizations and military organizations, including but not limited to public security organizations, procuratorial organizations, courts, customs, tax authorities and so on.

    4.   USER OBLIGATIONS

4.1   Users shall not register multiple accounts for any purpose.

4.2   Users may not use another user's accounts.

4.3   Users must not use this website or services in any way that causes, or may cause, damage to this site or impairment of the availability or accessibility of this website; or in connection with any illegal fund payment and settlement including but not limited to payment by illegal means like fictitious transaction, false price, and transaction refund and so on; illegal cash-out activity via entity bank settlement account; illegal fund transfer from the bank settlement account of an entity to an individual account; illegal check cash-out activity or any unlawful, illegal, fraudulent or harmful purpose or activity under applicable laws and regulations.

Users agree to indemnify and hold Fasset Technology Ltd, and their officers, directors, shareholders, predecessors, successors in interest, employees, agents, subsidiaries and affiliates, harmless from any demands, loss, liability, claims or expenses (including attorneys’ fees), made against Fasset Technology Ltd by any third party due to or arising out of or in connection with users’ use of this website or Services.

4.4   Users are prohibited in any form from utilizing the website to engage in illegal activities. Without the authorization or permission of Fasset, the user shall not use any of the commercial activities in the name of this website or in any form of the Site as a place, platform or medium for engaging in commercial activities.

4.5   Users shall comply with all laws and regulations, and bear the responsibility and legal consequences of any their own actions involving the Site and Services. In addition, Users shall not infringe the legitimate rights and interests of any third party. Additionally, if Fasset suffered losses as a result of your actions then Fasset has the right to recover losses from the User via legal actions or other means.

4.6   If a User violates any obligation above, Fasset has the right to take all necessary measures directly, including but not limited to deleting the content posted by the User, canceling the customer star rating and honor, freezing the User’s balance, pausing or seizing the user's account and illegal gains, and prosecution.

4.7   User in Pakistan are prohibited from transferring cryptocurrencies to any other wallet.

    5.   FEES

5.1   Fees may be incurred for part of the services provided by us to the users. By using our services, you agree to incur these fees.

5.2   Fasset has the right to set and modify our fee structure and at our own discretion. We may also start charging fees on free services. Any fee changes shall be announced in advance.

5.3   If you do not agree with any fees charged, You should stop using the Service immediately. You are still responsible for any fees previously incurred.

5.4   Unless otherwise stated or agreed, the user agrees that we have the right to automatically and without prior notice deduct the above-mentioned service fees directly from the assets of the User account.

5.5   If You do not pay in full and on time then Fasset reserves the right to interrupt, suspend or terminate the service.

    6.   ASSET SERVICES

6.1.1   General:

Your Wallet enables you to send Assets to, and request, receive, and store Assets from, third parties by giving instructions through the Fasset Exchange as well as to store, purchase, sell and swap Assets.

The Services enable you to buy Assets using Fiat Currency supported and approved by Fasset. Conversely, when you sell Assets, you may elect to receive Fiat Currency supported and approved by Fasset.

The Services may also enable you to swap different Assets supported and approved by Fasset.

6.1.2   Fiat Currency Transactions:

You may purchase supported Assets by linking a valid payment method for Fiat Currency to your Wallet. You authorize us to debit funds using your selected payment method(s) to complete your purchase. Although we will attempt to deliver to you as promptly as possible Assets purchased by you, funds may be debited from your selected payment method before the status of your Transaction is shown as complete, and Asset is delivered to your Wallet.

You may sell Assets in exchange for Fiat Currency supported and approved by Fasset. In such circumstances, you authorize us to debit your Wallet and to send instructions to credit your selected payment method(s) in settlement of the relevant sell Transactions. We will send these instructions as soon as reasonably possible. Any Fiat Currency should be credited to your selected payment method(s) by the end of the Business Day on which we send such instructions, or as otherwise notified by us to you.

You shall not link any bank accounts from a Restricted Territory to your Wallet. We assume no responsibility for any issues, liabilities or losses and prohibit all Transactions including any deposits and withdrawals of monies to and from any banks of any Restricted Territory; or investing and trading with any monies from any banks of any Restricted Territory when using the Site.

a.   Transaction Fulfillment. We will make reasonable efforts to fulfill all of your Asset Transactions subject to the terms and conditions of the Terms, but in some circumstances, we may be unable to do so. If this is the case, we will notify you and seek for your approval to re-attempt the Asset Transaction at the current Exchange Rate.

b.   Transaction Fulfillment. The availability of a method of payment depends on a number of factors including, without limitation, your location, the identification information you have provided us with, and limitations imposed by third party payment processors.

6.1.3   Exchange Rates

Each purchase, sale or swap of Assets is also subject to the Exchange Rate for the given Transaction. The "Exchange Rate" means the price of a given supported Asset in Fiat Currency or otherwise as quoted on the Site. The Exchange Rate is stated either as a "Buy Price" or as a "Sell Price" or as a “Swap Rate”, which is the price at which you may buy or sell Asset or the rates for swap of Assets, respectively.

You acknowledge that the Buy Price Exchange Rate may not be the same as the Sell Price Exchange Rate or the Swap Rate Exchange Rate at any given time, and that we may add a margin or 'spread' to the quoted Exchange Rate. You agree to accept the Exchange Rate when you authorize a Transaction. We do not guarantee the availability of any Exchange Rate. We do not guarantee that you will be able to buy, sell and/or swap Assets on the open market at any particular price, rate or time.

Authorizations; Reversals; Cancellations

By clicking the 'Buy', 'Sell' or 'Swap' button or any equivalent button on the Site, you are authorizing Fasset to initiate the Transaction at the quoted Buy Price, Sell Price or Swap Rate and agree to any associated Conversion Fees and Exchange Rates.

You cannot cancel, reverse, or change any Transaction marked as complete or pending. If your payment is not successful or if your payment method has insufficient funds, you authorize us, in our sole discretion, either to cancel the Transaction or to debit your other payment methods, including balances in your Wallet, for any amount necessary to complete the Transaction. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, insufficient funds, or similar fees charged by your payment provider.

Asset Transactions

We will process Transactions in accordance with the instructions we receive from you. You should verify all Transaction information prior to submitting the relevant instructions to us. We do not guarantee the identity of any user, receiver, requestor or other third party and we shall have no liability or responsibility for ensuring that the information you provide is accurate and complete.

Transactions cannot be reversed once they have been broadcasted to the relevant Asset network.

We may charge network fees ("Network Fees") to process a Transaction on your behalf. The estimated Network Fees for a particular Transaction will be disclosed at the time of initialization by you of a Transaction. Such estimated Network Fees shall be for indicative purposes only, which Fasset reasonably believes to be necessary for the successful completion of the relevant Transaction. You have the right to input such lower amount of Network Fees that you deem appropriate but in such a case, there will be a risk of the relevant Transaction not being able to be completed by Fasset. The applicable Network Fees will be displayed upon completion of submission of the relevant Transaction to the Asset network at the checkout page.

When you or a third party sends Asset to a Wallet from an external wallet not hosted on the Fasset Exchange, the person initiating the Transaction is solely responsible for executing the Transaction properly, which may include, among other things, payment of Network Fees in order for the Transaction to be successful. Non- payment of Network Fees may cause your Transaction to remain in a pending state outside of Fasset’s control and we are not responsible for delays or losses 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 submitted to an Asset network, a Transaction will be unconfirmed for a period of time pending sufficient confirmation of the Transaction by the Asset network. A Transaction is not complete while it is in a pending state. Asset associated with Transactions that are in a pending state will be designated accordingly and will not be included in your Trading Account balance or be available to conduct Transactions until confirmed by the network.

We may also cancel or refuse to process any pending Transaction as required by law, regulation or any court or other authority to which Fasset is subject in any jurisdiction.

Supported Assets

Our Asset Services are available only in connection with those Assets that Fasset supports from time to time.

Under no circumstances should you attempt to use your Wallet to store, send, request, or receive Assets in any form that we do not support (although we will use reasonable efforts to help you move or sell Asset that we no longer support). We assume no responsibility or liability in connection with any attempt to use your Wallet for Assets that we do not support.

Advanced Protocols

Unless specifically announced on the Site or by way of an official public statement made by Fasset, we do not support metacoins, colored coins, side chains, or other derivative, enhanced, or forked protocols, tokens, or coins which supplement or interact with an Asset we support (collectively, "Advanced Protocols"). You should not use your Account to attempt to receive, request, send, store, or engage in any other type of Transaction involving an Advanced Protocol. The Site is not configured to detect and/or secure Advanced Protocol transactions.

You acknowledge and agree that we shall have no responsibility whatsoever in respect of an unsupported Advanced Protocol.

Asset Storage & Transmission Delays. The Fasset Group securely stores Asset private keys (by way of a combination of online and offline storage), which is the means by which you can securely approve a Transaction. For the purpose of this section (Asset Storage & Transmission Delays), “offline storage” means storage in devices which are not connected to the internet (for example, USB hardware wallets). As a result of our security protocols to facilitate a Transaction in accordance with your instructions, you acknowledge that this may delay the initiation or crediting of such Transaction.

Third Party Payments. We have no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase from, sell to, or swap with any third party (including other users of the Asset Services). We are not responsible for ensuring that a third party you transact with will complete the Transaction or is authorized to do so. If you experience any problem with any goods or services purchased from, sold to, or swapped with any third party using Asset transferred using the Asset Services, or if you have a dispute with such third party, you should resolve the dispute directly with that third party.

Asset Protocols

We do not own or control the underlying software protocols which govern the operation of Assets supported on the Fasset Exchange. Generally, the underlying protocols are ‘open source’ and anyone can use, copy, modify, and distribute them.

We assume no responsibility for the operation of the underlying protocols and we are not able to guarantee their functionality, security, or availability. You acknowledge and accept the risk that underlying software protocols relating to any Asset you store in your Wallet may change.

In particular, the underlying protocols are likely to be subject to sudden changes in operating rules ("fork(s)"), and such forks may materially affect the value, function, and/or the name of the Asset you store in your Wallet. We may, without being obligated to do so in any manner, provide you with notices or alerts on forks and you must read such notices or alerts received from us to consider how to deal with upcoming forks.

However, it is your responsibility to make yourself aware of, and consider how to deal with, upcoming forks. In the event of a fork, there is a risk that we may need to temporarily suspend operations in relation to that fork without providing advance notice to you. We may, in our reasonable discretion, decline to support either or both branches of a fork. You acknowledge the risks presented by forks and you accept that we shall have no responsibility to assist you to move or sell an unsupported branch of a forked protocol.

Title to Assets.You agree and acknowledge that all Assets in your Wallet are custodial assets held by Fasset for your benefit. Among other things, this means:

a.   Beneficial title to the Assets in your Wallet shall at all times remain with you and shall not transfer to any company in the Fasset Group. As the owner of the Assets in your Wallet, you shall bear all risks of loss of such Assets. No company within the Fasset Group shall have any liability for fluctuations in the Fiat Currency value of the Assets in your Wallet;

b.   You control the Assets in your Wallet. At any time, subject to outages, downtime, and other applicable policies read with the Terms, you may withdraw the Assets by sending any of them to a different blockchain address controlled by you or a third party; and

c.   In order to hold the Assets in your Wallet in a more secure manner, Fasset Group may use shared blockchain addresses, controlled by a member of the Fasset Group, to hold Assets held on behalf of customers.

Title to Fiat Currencies. You agree and acknowledge that all Fiat Currencies held for you in Fasset’s client bank account (“Client Bank Account”) are held for your benefit. Among other things, this means:

a.   Beneficial title to the Fiat Currencies held for you in the Client Bank Account shall at all times remain with you and shall not transfer to any company in the Fasset Group. As the owner of the Fiat Currencies in the Client Bank Account, you shall bear all risks of loss of such Fiat Currencies. No company within the Fasset Group shall have any liability for fluctuations in the Fiat Currencies in the Client Bank Account;

b.   You control the Fiat Currencies held for you in the Client Bank Account. At any time, subject to outages, downtime, and other applicable policies, you may withdraw the Fiat Currencies by sending a withdrawal request to Fasset; and

c.   Fasset Group will hold your Fiat Currencies in a bank account controlled by a member of the Fasset Group. Although we maintain separate ledger accounting entries for customers and Fasset Group accounts, no member of the Fasset Group shall have any obligation to maintain separate bank accounts to segregate Fiat Currencies owned by you or by other customers.

    7.   CUSTODIAL SERVICE

    7.1   Maintaining Sufficient Assets and Fiat Currency

You agree at all times to maintain sufficient Assets and Fiat Currency in your Wallet(s) for the purpose of effecting your instructions and for paying any Amounts Payable.

You acknowledge and agree that if at any time there are (having regard to other payments debited or due to be debited) insufficient Assets and/or Fiat Currency in a relevant Wallet, Fasset Group may, in our absolute discretion and without any obligation to do so:

  • i. decline to execute you instructions;
  • ii. force-sell and/or incorporate any of your Asset or Fiat Currency held by Fasset Group on your behalf; and
  • iii. Transfer your Assets and/or Fiat Currency as necessary to / from any other Wallet without further instruction or sanction from you, in addition to any other rights it may have under Applicable Law.

7.2   Transactions

a.   You may send, receive and store the Assets by providing instructions to Fasset as your custodian.

b.   You may also request Fasset in its capacity as your custodian to transfer the Assets from your Wallet to a specified blockchain address by providing instructions to that effect. You must ensure that there are sufficient Assets and Fiat Currency in your Wallet to cover any such Transaction(s).

c.   Fasset may charge a fee for sending your Assets to, or transferring your Assets from, a Wallet, as set out on the Site.

7.3   Instructions to Fasset for Custodial Services

You authorize us to accept, rely upon and/or act upon any instructions received by us without inquiry, assuming the authenticity of any such instructions given or purportedly given by you or any person authorized by you, or that any person claiming to be your authorized representative is in fact that person. You acknowledge and agree that once given, an instruction cannot be revoked and if acted on by Fasset, the instruction will be binding on you.

Fasset reserves the right at all times to decline to accept your instructions, without giving any reason or explanation or prior notice. For example, Fasset may, in addition to any other rights it may have:

i.   decline to act on your behalf or accept your instructions where we believe that the instruction could result in a breach of any Applicable Law, or that it is unclear, ambiguous or incomplete;

ii.   where you, or a person we believe is connected with you, appears to be a Blacklisted Person, refuse to process or complete any instruction, suspend the provision of a product or Service to you, refuse to permit or to facilitate any of the Assets or Fiat Currency held by Fasset Group to be used or dealt with, refuse to make any Assets or Fiat Currency available to you or to any other Blacklisted Person or other person or terminate the Services; and

iii.   decline to act where there are insufficient Assets or Fiat Currency in the Wallet to carry out the instructions, or where the Transaction does not comply with any limit that applies.

If Fasset exercises its rights under this section, you must pay Fasset on demand any loss that Fasset incurs in relation to any action taken under that Section or any Applicable Law.

We may complete your instructions by multiple Transactions and you authorize us to accumulate those Transactions on a single record and specify the volume weighted average price for those Transactions.

7.4   Risk Factors   This Section provides a summary of certain risks relating to using Custodial Services. There are other risks involved in using the Custodial Services. In addition to the risks detailed in Section 11 (Risks and Liability) following general risks apply to the Custodial Services:

As the custodian Fasset has a number of rights pursuant to the Terms that may adversely affect your position and result in loss. For example, where this section applies, Fasset may sell your Assets from your Wallet and Fasset may not be in a position to return the same Assets at the time they are requested by you. Furthermore, our ability to safeguard your Assets is not absolute;

There may be circumstances where your ability to withdraw any Asset is delayed or restricted beyond 3 working days. In such instances Fasset shall notify you of such delay or restriction as soon as practicable; the operation of the Custodial Services may require third party contractors with particular expertise in blockchain technology. The availability of such contractors is limited. There may not be sufficient (or any) such contractors available on terms deemed acceptable by Fasset. The costs associated with any such contractors may be significantly greater than currently estimated. Further, the quality, reliability and timely delivery of services by such contractors may vary significantly. These may impact the delivery of the Custodial Services.

    8.   TRANSACTION LIMITS, SOURCE OF FUNDS, RESTRICTIONS

8.1   Transaction Limits  The use of any or all the Services is subject to a limit on the volume (stated in Fiat Currency or Asset) of which you may transact or transfer in a given period (e.g. daily). Please see Schedule 1 (Verification Procedures and Limits) for further details. Your transaction limits may vary depending on your payment method, verification steps you have completed, and other factors. We reserve the right to change the applicable limits from time to time as we deem necessary without prior notice to you.

8.2   Source of Funds  All persons accessing the Site shall at all times adhere to and comply with all relevant financial crime regulations, including without limitation any Applicable Law, rules, internal policy or regulatory requirement pertaining to money laundering, terrorist financing, bribery, corruption, tax evasion, fraud, slavery, proliferation of weapons of mass destruction, the trafficking of arms, drugs, humans or wildlife, or evasion of Sanctions (collectively known as “Financial Crime Regulations”) with respect to all Transactions or matters whatsoever and howsoever arising whether directly or indirectly from transacting with or via us.

All persons accessing the Site warrant and undertake (a) that all monies and assets deposited with us from time to time, whether fiat or crypto currency, shall come from a legitimate (and not illegal) source and are not proceeds of any illegal or unlawful activity and (b) to do all such acts and things as may be necessary to enable us to comply with Financial Crime Regulations.

8.3   Enhanced Due Diligence.  We may require you to submit additional information about yourself or your business, provide records, and arrange for meetings with our staff if you wish to raise your limits in respect of any or all the Services ("Enhanced Due Diligence"). We reserve the right to charge you costs and fees associated with such Enhanced Due Diligence although if we intend to do so, we will notify you in advance so that you can decide whether you wish to proceed with the request. In our discretion, we may refuse to raise your limits, or we may lower your limits at a subsequent time even if you have completed the Enhanced Due Diligence.

8.4   Restriction  You agree that you will not transfer your assets to any other wallet unless explicitly allowed by Us to do so.

    9.   SUSPENSION, TERMINATION AND CANCELLATION

9.1  We may: (a) refuse to complete, or block, cancel or reverse a Transaction you have authorized (even after funds have been debited from your Account), (b) suspend, restrict, or terminate your access to any or all of the Services and/or (c) deactivate or cancel your Account with immediate effect for any reason, including without limitation where:

All persons accessing the Site warrant and undertake (a) that all monies and assets deposited with us from time to time, whether fiat or crypto currency, shall come from a legitimate (and not illegal) source and are not proceeds of any illegal or unlawful activity and (b) to do all such acts and things as may be necessary to enable us to comply with Financial Crime Regulations.

i.   we reasonably believe that we need to do so in order to protect our reputation;

ii.   we are, in our reasonable opinion, required to do so by Applicable Law, regulation or any court or other authority to which we are subject in any jurisdiction;

iii.   we reasonably suspect you of acting in breach of the Terms;

iv.   we reasonably suspect you have breached our “Policy on Prohibited Use, Prohibited Businesses and Conditional Use”

v   we have concerns (i) that a Transaction is erroneous or (ii) about the security of your Account;

vi.   we suspect the Services are being used in a fraudulent or unauthorized manner;

vii.   we suspect money laundering, terrorist financing, fraud, or any other financial crime;

viii..   use of your 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;

ix.   you take any action that may circumvent our controls such as opening multiple Accounts unless the same is specifically authorized by us in your case or abusing promotions which we may offer from time to time;

x.   we reasonably suspect you have given incorrect, incomplete or misleading information or made a representation or warranty that is incorrect or misleading;

xi.   you become insolvent or bankrupt or receiver and/or manager, special administrator, trustee or any other similar officer has been appointed over any of your assets or undertakings.

We may also block, cancel or reverse or refuse to complete a Transaction you have authorized where there are insufficient Assets in your Wallet to cover the Transaction and (where applicable) associated fees at the time of which we receive notification of the Transaction or if your credit or debit card or any other valid payment method linked to your Account or Wallet is declined.

If we refuse to complete a Transaction and/or suspend, restrict or close your Account, and/or terminate your use of any of the Services, we will (unless it would be unlawful for us to do so) provide you with notice of our actions and where appropriate the reasons for refusal, suspension or closure, and where applicable, with the procedures for correcting any factual errors or other issues that led to such refusal, suspension or closure. In the event that we refuse to complete a Transaction and/or suspend your Account, we will lift the suspension or complete the Transaction as soon as reasonably practicable once the reasons for refusal and/or suspension no longer exist. However, we are under no obligation to permit you to reinstate a Transaction at the same price or on the same terms as the suspended, reversed or cancelled Transaction.

We may suspend, restrict, or terminate your access to any or all of the Services and/or deactivate or cancel your Account, without any reason whatsoever. You acknowledge that our decision to take certain actions, including limiting access to, suspending, or closing your Account, may be based on confidential criteria that are essential for the purposes of our risk management and security protocols. You agree that we are under no obligation to disclose the details of such risk management and security protocols to you.

    9.2   Consequences of Termination or Suspension

Upon termination of the Services for any reason, unless prohibited by Applicable Law or by any court or other order to which Fasset is subject in any jurisdiction, you are authorized to access your Account for thirty (30) days thereafter for the purposes of transferring any Asset from your Trading Account. You are not permitted to use the Services or your Account for any other purposes during such period and we may, at our discretion, limit the functionality of the Site for you accordingly. After the thirty (30) days’ period, you shall no longer have access to the Services or your Account (which will be closed by us). If there is any Asset remaining in your Wallet after the termination, Fasset shall have the discretion to transfer the Asset out of Fasset Exchange and to your other accounts based on the information you have provided to Fasset, or otherwise deal with the Asset in accordance with Applicable Laws and regulations such as laws governing unclaimed monies and assets.

If we suspend or close your Account or terminate your use of the Services in whole or in part for any reason, we reserve the right to require you to complete the procedures as outlined in Section 4.3 (Identity Verification) again before permitting you to transfer or withdraw any Asset. You may cancel your Account at any time by withdrawing all balances in your Wallet and you shall notify us in writing of such cancellation. You will not be charged for cancelling your Account, although you will be required to pay any outstanding amounts owed by you to us. You authorize us to cancel or suspend any pending Transactions in your Account at the time of cancellation of your Account.

Provided any termination of the Services shall not affect the rights of Fasset which have accrued or arisen prior to and up to the date of such termination.

    10.   CHANGE, INTERRUPTION, TERMINATION, AND DISCONTINUANCE OF SERVICES.

Fasset reserve the right, in its sole discretion, to discontinue or terminate the services provided to you without notice, temporarily or permanently, including, but not limited to, the following cases:

1 ) If the personal information you have provided is not true, or inconsistent with the information at the time of registration and you have failed to provide reasonable proof (please remember, according to the laws or regulations you should submit true information);

2 ) If you violate the relevant laws and regulations or this agreement;

3 ) If required by any provisions of the laws and regulations, as well as the requirements of relevant government authorities;

4 ) For security reasons or other necessary circumstances.

    11.   COMPLIANCE WITH YOUR LOCAL LAWS

It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Additionally, you agree to comply with all relevant laws of the UAE as applicable. When using our Services, You acknowledge that your actions are in a legal and proper manner and your sources of VFAs are not from illegal activities. We may discretionarily or in coordination with local law enforcement authorities seize, restrict or close-out your account, fiat currency and VFAs.

    12.   PRIVACY POLICY

Please refer to our privacy policy for information about how we collect, use, and share your information.

    13.   INDEMNITY

You shall indemnify us and our agents (if any), employees, officers, directors, affiliates, subsidiaries and successors, and hold them harmless from and against all third-party claims except those resulting solely from our breach of the Terms. Similarly, we shall indemnify and hold harmless you and your agents, employees, officers, directors, affiliates, subsidiaries and successors from and against all third-party claims except those resulting solely from your breach of the Terms.

    14.   GOVERNING LAW

The Terms, your use of the Services, any claim, counterclaim or dispute of any kind or nature whatsoever arising out of the Terms, directly or indirectly, shall be governed by, and construed in accordance with the laws of United Arab Emirates without regard to the principles of conflicts of laws thereof.

    15.   JURISDICTION AND DISPUTE RESOLUTION

You acknowledge and agree that in the event of any dispute, controversy, difference or claim, including the existence, validity, interpretation, performance, breach or termination of the Terms or any dispute arising out of or relating to the Terms (“Dispute”), the parties shall first refer to the dispute resolution mechanism.

    16.   DISPUTE RESOLUTION

16.1   Complaints

A complaint may be made by you against:

Fasset; or any other person in respect of activity that occurs on the website, by submitting a complaint through the channel provided on the website/email.

Fasset will acknowledge your complaint within four (4) business days of its receipt by Fasset.

Fasset will consider your complaint without prejudice based on the information that you have provided and any related information that Fasset considers relevant.

Within twenty (20) Business Days of receipt of your complaint in writing by:

  • Requesting further information;

  • Offering to resolve your complaint with the requested solution;

  • Offering to resolve your complaint with an alternative solution; or

  • Making a determination rejecting your complaint, setting out reasons for the rejection.r

Upon receipt of the written response by you from Fasset, you will have twenty (20) Business Days to accept or reject the offer in accordance with the instructions set out in the response. If you shall fail to respond to the written response from Fasset, Fasset may treat the complaint as withdrawn, resolved or closed at its sole discretion.

16.2   Arbitration

Meeting. If either Party gives the other Party a written notice claiming that any dispute or difference (“Dispute”) has arisen and the Parties are unable to resolve the Dispute within ten (10) Business Days of service of that notice, then the Parties must:

1.   use their best endeavors to ensure that a meeting is held in an effort to resolve the Dispute; and

2.   Make available a representative who has authority to settle the Dispute to attend that meeting.

Submission to Arbitration. If the meeting referred to in Section 14.2.1 (Meeting) either:

1.   takes place and the Parties are unable to resolve the Dispute within ten (10) Business Days of the meeting taking place; or

2.   does not take place for any reason whatsoever within twenty (20) Business Days of service of the notice referred to in Section 14.2.1 (Meeting), then either Party to the Dispute is entitled to refer the Dispute to arbitration in accordance with the requirements and procedures set out in Section 14.2.3 (Arbitration Proceedings).

16.3   Arbitration Proceedings

i.   Subject to Submission to Arbitration, any Dispute must be referred to and finally resolved by binding arbitration administered by the DIFC-LCIA Arbitration Centre (“DIFC-LCIA”) in accordance with the DIFC-LCIA Rules (“Rules”), as in force when the Notice of Arbitration is submitted in accordance with those Rules.

ii.   The appointing authority shall be the DIFC-LCIA.

iii.   The arbitration proceedings must be conducted in English.

iv.   The arbitral tribunal is to be constituted by one (1) arbitrator appointed by mutual decision of the Parties. If the Parties cannot agree upon an arbitrator within ten (10) Business Days from the date the Respondent receives the Notice of Arbitration, the arbitrator is to be appointed by the DIFC-LCIA.

v.   The arbitration award is final and binding on the Parties and the Parties agree to be bound by it and to act accordingly. Unless required by Applicable Laws or regulatory requirements or with the prior written consent of the Parties, the content, existence and award of any arbitral proceedings must be kept confidential. The costs of the arbitration and reasonable legal fees will be payable by the Parties as the arbitrator may direct in the arbitration award.

vi.   Unless the Parties otherwise agree in writing or until the arbitral tribunal hands down an award, the Parties are obliged to continue fulfilling their obligations under the Terms notwithstanding the commencement of an arbitration.

16.4   Enforcement of Arbitration Award

1.   Judgment upon any arbitration award rendered by the arbitral tribunal may be entered, and application for judicial confirmation or recognition or enforcement of the arbitration award may be made in any court of competent jurisdiction, and each of the Parties irrevocably submits to the jurisdiction of such court for the purposes of enforcement of this section or for confirmation or recognition or enforcement of any arbitration award rendered by the arbitral tribunal in accordance with the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards.

2.   You agree that you will not commence, or attempt or threaten to commence, any proceedings, action or claim (including any claim for compensation or costs) against us in any jurisdiction for the recovery of any loss, damage, cost or expense, or in relation to any liability which has been excluded under the Terms.

3.   Injunctive or Interim Relief. Nothing in this section prevents a Party seeking for an urgent injunctive or similar interim relief from a court of competent jurisdiction.

    17.   GENERAL FEEDBACK AND MISCELLANEOUS

17.1   Feedback:  Feedback: If you have any complaints, feedback, or questions, please contact our Customer Service. When you contact us, please provide us with your name and email address and any other information we may need to identify you, and the transaction on which you have feedback, questions, or complaints.

17.2   Miscellaneous:  These Terms set forth the complete understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings and communications relating thereto. No term or condition of any other document provided to Fasset which is different from, inconsistent with, or in addition to the terms and conditions set forth herein will be binding upon the Parties. You represent and warrant that all information disclosed to Fasset in connection with these terms are true, accurate, and complete.

Term of Use

You must read the following information carefully before proceeding. This website along with our mobile site, mobile application and application programming interfaces ("APIs") (collectively "Site") is owned and operated by Fasset Labuan Limited (Company No. LL17311), a company limited by shares incorporated under the Labuan Companies Act 1990 with its registered address at Jalan Merdeka, Unit Level 14 (B) & 14 (C), Main Office Tower, Financial Park Labuan, Labuan, 87000, Malaysia ("Fasset", "we", "us", "our"). Unless repugnant to the context, any references herein to the Site include all the content, information, images, links, sounds, graphics, videos, products, services and functionalities (collectively "Material") made available on the Site. Any references herein to "User", "you" or "your" are to the person accessing or using the Site.

These terms of use along with all the policies and additional terms and conditions referenced herein or elsewhere on the Site including without limitation the User Agreement, Trading Rules, Privacy Policy, KYC AML CFT Policy, Risk Disclosure, and Cookie Policy, as amended, supplemented or replaced from time to time (collectively "Terms"), form a valid and binding contract between you and Fasset. By accessing and/or using the Site, you agree to be bound by and comply with the Terms along with all the guidelines, notices and instructions pertaining to the use of the Site issued by us from time to time. We reserve the right to update or change the Site and the Terms at any time without notice, and we encourage you to check the Terms periodically and at least each time you access or use the Site. If you access or use the Site after the amended Terms have been published, you will be deemed to have agreed to the amended Terms. If you do not agree to the Terms as amended from time to time, please do not access or use the Site.

If you conduct any transactions through the Site, each such transaction may be subject to additional terms and conditions which you will be directed to read and accept at the applicable time. To the extent there is any inconsistency between these Terms and the additional terms and conditions applicable to a specific transaction, the additional terms and conditions applicable to the specific transaction shall apply to that specific transaction and any matters connected with it or arising therefrom.

User Obligations

Your access to and use of the Site may be restricted based on your citizenship, residency, jurisdiction and/or geographical location. You represent and warrant that you will not access and/or use the Site if you are a citizen or resident of or located in a Restricted Territory (as defined below).

You hereby agree to always comply with all our instructions and requirements relating to your access and / or use of the Site and undertake not to perform any act that would interfere with or adversely affect the normal operation of the Site, including without limitation the ability of others to access and/or use the Site or any functionalities, products or services available on the Site without any hindrance or delay.

You are solely responsible for ensuring the security of the systems and devices that you use to access and/or use the Site, including through use of anti-virus, anti-malware and other security software.

You agree that you are solely responsible for understanding and complying with all laws, rules and regulations that apply to you on account of your citizenship, residency, location or jurisdiction in relation to your access and use of the Site and Materials.

User Registration

You are required to register on the Site in order to access certain parts of the Site as well as to avail any services on the Site or to carry out any transactions using the Site. On successful registration, you will be able to generate a user name and password, or other appropriate log-in credentials for your account. You shall be solely responsible for keeping your log-in credentials confidential in order to prevent their misuse. You shall be solely responsible for any use / misuse of the Site and any transactions conducted thereon by anyone using your log-in credentials.

Eligibility

You may access and/or use the Site only if you fulfil the following requirements, and you represent and warrant to us that at the time of registration, and thereafter at every instance when you access or use the Site you continue to fulfil the same:

  • In case of individuals, you are 18 years or older, with legal capacity of entering into a valid and binding contract with us, and under no legal, contractual or other restriction or incapacity from accessing and/or using the Site;
  • In case of non-individuals, you are a registered and duly formed or incorporated corporation, legal person, entity or other organisation represented by its duly authorised representative having authority from such corporation, legal person, entity or other organisation to access and/or use the Site and form a binding agreement with us on its behalf;
  • You have not been suspended, barred or restricted from accessing the Site or any other exchange in the past;
  • You are not part of the United States Office of Foreign Assets Control's Specially Designated Nationals and Blocked Persons List , and/or are not otherwise subject to any sanctions or restrictions which disallow you from using and/or accessing the Site or which may affect our ability to provide you with our products and services;
  • You have the full power and authority to agree to the Terms, and to enter into any transactions or use any service offered on the Site;
  • All information and documentation provided by you to us for the purposes of accessing and using the Site as well as for availing services and entering into transactions on the Site is true and accurate and it is not incomplete or misleading and that if such information or documentation becomes untrue, inaccurate, incomplete or misleading at any point in future, you will immediately inform us of the same as soon as you become aware that the same is no longer true, accurate, complete and not misleading, including the date on which the correctness or veracity of the same changed;
  • You will enter into transactions by utilising only legally obtained digital assets and/or fiat currencies that belong to you without any encumbrances, and you will have full legal and beneficial rights and title to any such assets and/or fiat currencies at the time you transfer them to us or any third parties using the Site;
  • You are not a citizen or a resident of or located in, a state, country, territory, region, city, locality, county or other jurisdiction in which access and/or use of the Site or any functionalities, products or services on the Site would be restricted, illegal or otherwise contravene any Applicable Laws (“Restricted Territory”), and have not used technology or any other means including without limitation Tor, VPN or remote access software to misrepresent your geographical location to access the Site; and
  • You agree that each time before accessing or using the Site and / or Services you will ensure that you are not doing so from a Restricted Territory and would not be breaking any Applicable Laws, rules or regulations in any jurisdiction including in any Restricted Territory, by doing so.

Additional User Information

You agree to provide us with additional information if so requested by us periodically, for the purposes of identity verification as well as for the detection and prevention of fraud, money laundering, terrorism financing, or any other financial crime.

We may require that you complete certain verification procedures before you can use the functionalities, products and services on the Site. Such additional information may include personal information, including without limitation, your name, address, phone number, email id, date of birth and government identification documents.

By providing us the information as may be requested by us periodically, you confirm that the information is accurate and authentic and you agree to our using the same for purposes detailed in the Privacy Policy and as permitted under applicable law. Further you understand and agree that Fasset may retain a record of the information you provide.

Information relating to your access or use of the Site or which has been collected from you may be shared by us with our service providers, agents, business partners and affiliates in connection with our business. Such information may be used including without limitation for: (a) Compliance with the law: we may disclose your information if we believe that disclosure is required under law, to cooperate with regulators or law enforcement authorities or to protect our rights and interests; and (b) Statistical data: we may disclose your information to third parties for statistical purposes or for trade analysis.

Further, you authorise us to make such inquiries as we deem fit, directly or through third parties, in order to verify your identity or protect you, other users of the Site, the Site and/or Fasset against fraud, suspicious transactions or other financial crime, and to take such action as we consider being necessary based on the outcome of such inquiries.

You represent and warrant that all information provided by you to Fasset in relation to the use or access of the Site is non-confidential and non-proprietary and may be used by Fasset as such.

Suspension or Termination of Access

We reserve the right in our sole and absolute discretion to suspend or terminate your access to the entire Site or any part of the Site at any time, including by disabling any log-in credentials associated with you, without prior notice, for any reason, including without limitation, if we believe that you have violated or acted inconsistently with the Terms, or if in our opinion or the opinion of any regulatory authority, it is not suitable to continue providing all or some of the products and services relating to the Site. In certain circumstances, we may not be in a position to provide information to you about the reasons for such suspension or termination of your access to the Site.

Further, we reserve the right to restrict access to Restricted Territories, and to implement technical as well as other controls to prevent access to the Site and the functionalities, products and services available thereon from Restricted Territories.

Intellectual Property Rights

All the intellectual property rights in and to the Site and the Materials are owned, licensed to or controlled by us, our licensors or service providers. We may update and change the Materials made available on the Site, including by completely removing any part of the Materials, at any time in our sole discretion without notice to you.

You shall not download, print or otherwise reproduce, distribute, republish, display, broadcast, hyperlink, mirror, frame, transfer or transmit any part of the Site or the Materials without our express prior written consent. To the extent that the Site contains functionality that allows you to access or download specific Materials through the Site, your use of that functionality and the downloaded Materials may be subject to separate terms and conditions which you will be asked to read and accept at the relevant time, in any event you agree and undertake that any such access or download shall be strictly for personal, non-commercial uses, and conditional on your not modifying the Materials and your retaining all the copyright and other proprietary notices contained in the Materials. Notwithstanding the generality of the foregoing, the intellectual property rights in and to any such Material shall always belong solely to us and our licensors or service providers.

The trademarks, service marks, trade names and logos used and displayed on the Site (collectively “Trademarks”) are registered and unregistered trademarks of Fasset and our licensors or service providers. Nothing on the Site should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any Trademarks without the express prior written approval of Fasset or any other applicable trademark owner. The name of Fasset or its affiliates and partners may not be used in any manner without our express prior written approval. Fasset expressly prohibits the use of the Trademarks or the name of Fasset as a metatag or as a “hot” link to the Site or any other site without the express prior written approval of Fasset for the establishment of such a link.

Hyperlinks

The Site may contain or link to information that has not been created, verified and/or tested by us or anyone on our behalf. Any such information or hyperlinks are provided for your information only and at your sole risk and responsibility. We shall not be responsible for such information or hyperlinks as well as consequences of your accessing or using the same, nor do we endorse the accuracy, completeness or safety of such information and hyperlinks.

Fasset does not guarantee the accuracy or completeness of the information or the hyperlinks on the Site or that the information or the provision of the hyperlinks on the Site does not infringe any third party rights. If the Site contains a hyperlink to another website, Fasset does not endorse, recommend, approve, guarantee or introduce any third parties or the services and/or products offered or advertised by such third parties. Fasset shall not be responsible for the hyperlinks, or for any of the content available on the Site or on any other website linked via the Site, or for any loss or damage that may arise from your access and/or use of any of them.

You should review the privacy policy of a linked website before you provide personal or confidential information. Your use of other websites shall be subject to their terms and conditions and you agree that your access to or use of such linked websites or content is entirely at your own risk.

Access to hyperlinked websites of Fasset's affiliates offering certain products or services may be limited to persons located or residing in the jurisdiction of such affiliates. The Materials available on such hyperlinked websites are not intended for persons located or residing in jurisdictions that restrict the access, use, publication or distribution of such Materials.

You may provide a hyperlink to the Site, on a website you operate subject always to our express prior written approval to the nature and extent of such use, and provided you do not suggest any form of association, approval or endorsement on our part and provided further that you undertake to promptly delete the hyperlink at our request any time following our initial approval of such use.

Except as set out above, you shall not link to the Site.

Use of the Site

The Materials made available on the Site are not intended as and shall not be construed as an offer, solicitation or recommendation to purchase, sell or transact in financial products, provide financial advice, create a trading platform, accept deposits or facilitate acceptance of deposits or provide any other financial services of any nature whatsoever in any jurisdiction.

The Materials contained on the Site are not intended to provide and should not be construed as financial, tax, accounting or any other kind of advice. You should not act on any Materials without first independently verifying their contents. It is pertinent to note that the Materials available on the Site do not take into account your objectives, financial situation or requirements. We recommend that you obtain appropriate professional advice where applicable and/or when necessary.

​You agree and undertake that you will not and nor will you facilitate someone to:

  • Use any software, program, material or macros that contains a virus, malware or damaging component which may corrupt the Site's data or interfere with the operation of the Site;
  • Transmit any materials or information through the Site which are or may be offensive, indecent, defamatory, infringing or which may not be lawfully disseminated under applicable laws or which you know or have reason to suspect contains any virus, malware or damaging component which may detrimentally interfere with the functionality or operation of the Site; or
  • Use the Site other than in accordance with the Terms and the acceptable use policies of any connected computer networks and any applicable internet standards.

Limitation on Liability

The Site and the Materials are provided on an “as is” and “as available” basis. Although we endeavour to apply reasonable care and skill while operating the Site, we cannot guarantee that the Site will always be available, meet your requirements or be free of faults, errors or compromise from cyber security events. Fasset does not warrant the accuracy, timeliness, adequacy, completeness or commercial value of the Site or the Materials, and we expressly disclaim to the extent permitted by applicable law any liability for errors, delays or omissions in the Materials, or for any action taken in reliance on the Materials. No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third party rights, title, merchantability, satisfactory quality or fitness for a particular purpose, is given in conjunction with the Materials or the Site.

We may, from time to time and without giving any reason or prior notice, upgrade, modify, suspend or discontinue the provision of or remove, whether in whole or in part, the Site or the Materials, and we shall not be liable if any such upgrade, modification, suspension or removal prevents you from accessing the Site or the Materials.

Even if Fasset or its agents or employees may have been advised of, or otherwise might have anticipated, the possibility of the same, to the maximum extent permitted by law, we exclude:

  • All terms, conditions, representations, warranties and statutory guarantees, whether express or implied, in relation to the Site. Nothing on the Site amounts to a guarantee, warranty or representation as to any future outcomes or results and should not be relied upon as such; and
  • Any and all risk and liability, whether in contract, tort (including negligence), or otherwise, for any direct, indirect, incidental, special, punitive or consequential loss, damage or expense incurred or any claims for loss of profits or loss of use suffered by you or any other user in connection with the Site.

Without prejudice to any other disclaimer, waiver, indemnity or exclusion of liability that you agree to in any agreement with us, you agree to:

  • Indemnify, to the extent permitted by the law of England and Wales, Fasset and any affiliate and partner against any claim, proceeding, action, loss, damage, liability or expense which you may suffer or incur directly or indirectly arising from your access or use of the Site; and
  • Release Fasset and any affiliate and partner against any claim, proceeding, action, loss, damage, liability or expense which you may suffer or incur directly or indirectly arising from your access or use of the Site.

To the extent that any implied condition, representation, warranty or statutory guarantee in relation to the provision of goods or services through the Site cannot be excluded by law, we limit our liability for a breach or otherwise to the lower of US$100 in the aggregate, or re-supply of the goods or services in question, or payment for the re-supply of the goods or services in question. The aforementioned is without limitation to any other limitation, exclusions or restrictions of our or others' liability in connection with the Site.

Force Majeure

Fasset shall not be liable for any non-performance, error, interruption or delay in the performance of its obligations or in the Site's operation, or for any inaccuracy, unreliability or unsuitability of the Site's contents or functionality if the same is on account of, in whole or in part, directly or indirectly to an event or failure which is beyond its reasonable control, which includes without limitation acts of God, natural disasters, acts of any government or authority, power failures, internet failures, black swan events, pandemics, war, and the acts of a party for whom Fasset is not responsible.

Privacy

Personal information collected through the Site shall be processed, shared, transferred and stored in accordance with our Privacy Policy.

You represent and warrant that:

  • Your disclosure of any personal information to us relating to individuals other than yourself shall be made in accordance with all applicable data protection and data privacy laws, and that such information shall be accurate, up to date and relevant when disclosed;
  • Before providing such personal information to us, you have read and understood our Privacy Policy and, in case of personal information relating to an individual other than yourself, have provided or at the time of disclosure will provide a copy of that Privacy Policy to that individual; and
  • If there are any changes to the Privacy Policy notified as per the process for such notifications of change, you will promptly read and provide a copy to any individual whose personal information you have provided to us.

Under certain circumstances, we may require additional information from you, and/or we may require additional verification or screening to be conducted before you are able to access certain services on the Site. You therefore authorise us and give us consent to (either directly or through a third party):

  • Screen and verify your information to prevent fraud, money laundering, terrorism financing and other suspicious transactions, including without limitation conducting screening against various sanctions and politically exposed persons lists, querying information contained in public sources and records, querying account information contained in any linked bank or other institutional accounts;
  • Provide the personal information provided by you or collected by us to banks or other institutions that may require such information in order to facilitate any requested product or service on the Site;
  • Provide the personal information provided by you or collected by us, to any permitted third parties; and
  • Take any action that we deem necessary in our sole discretion as a result of such verification and screening, including further requests or inquiries with third parties, and you authorise and consent to us sharing any information held by us with such third parties, as also authorise and consent to processing by such third parties of the personal information provided to us by you or collected by us, in order to respond to any such inquiry or request by us.

We reserve the right in our sole and absolute discretion to process, share and/or transfer to any of our affiliates and/or subsidiaries as also to permitted third parties all or part of your personal information and/or personal information relating to an individual other than yourself provided by you, without notice to you.

We will process, share, transfer and store any personal information collected through the Site in accordance with our Privacy Policy.

Compliance with Laws and Regulations

You are responsible for complying with all applicable laws and regulations relating to services you use through the Site, including without limitation the reporting of any transactions, and the calculation and payment of all applicable taxes in any relevant jurisdiction. If you have any doubts about the laws and regulations that apply to you, you should seek independent legal, accounting and/or tax advice. We may not be in a position to and we shall not be responsible to provide you with any additional reports, information or other material you may request for any legal, accounting, tax or other purposes, if the same is not something provided by us to our registered users in the normal course of business.

Online Transmission of Information

Transmission of information over the internet and through the Site may be subject to interruption, transmission blackout, delayed transmission, or incorrect data transmission due to internet traffic or on account of the public nature of the internet or otherwise. Please exercise caution, and confirm any relevant details / communication by other means if you have any doubt about the accuracy of any communication.

We cannot guarantee and do not warrant the security of any information transmitted by you or to you through the Site and you solely accept the risk that any such information may be accessed by unauthorised third parties. Information sent over the internet cannot be guaranteed to be completely secure. We will not be responsible for any damages incurred by you as a result of any delay, loss, diversion, alteration or corruption of any communication either sent to or received from us over the internet.

Any communication with us or our officers, representatives or agents may be recorded and retained, subject to applicable law, relevant policies and the terms of any applicable written agreement.

Severability

If any part of the Terms are determined to be illegal, invalid or otherwise unenforceable, to the extent and within the jurisdiction in which such part of the Terms is illegal, invalid or unenforceable, it will be severed and deleted from thee Terms and the remaining terms will survive, remain in full force and continue to be binding and enforceable without affecting the validity of the remaining provisions. Further, to the extent possible, in such cases, we shall replace the invalid provisions with valid provisions that correspond in the meaning and purpose to the invalid provision, and you agree that such replacement provisions shall be binding on you once the same are published on the Site or communicated to you in any other manner.

Language

In the case of a discrepancy between the English language version and any other language version(s) of the Terms or the Site, the English version shall prevail.

Governing Law

The Terms and/or your access or use of the Site are governed by the laws of England and Wales.

Arbitration

Any dispute, controversy, difference or claim arising out of or relating to the Terms and/or your access or use of the Site, including the existence, validity, interpretation, performance, breach or termination, or any dispute regarding non-contractual obligations arising out of or relating to the Terms and/or your access or use of the Site, will be referred to and finally resolved by arbitration administered by the DIFC - LCIA Arbitration Centre under the Arbitration Rules of the DIFC - LCIA Arbitration Centre in force when the Notice of Arbitration is submitted. The seat of arbitration will be DIFC - LCIA Arbitration Centre in Dubai, and the language of arbitration shall be English.

Support

Please contact us at https://fasset.com/supportif you have any questions about the Site or the products and services available on the Site.