TABLE OF CONTENTS
2. ELIGIBILITY AND PROHIBITION OF USING OUR SERVICES
3. DESCRIPTION OF OUR SERVICES
3. USERS' RIGHT AND LIMITATIONS TO LICENSE USE
5. USER OBLIGATIONS
7. ASSET SERVICES
9. ACCOUNT MANAGEMENT
10. CUSTODIAL SERVICE
11. TRANSACTION LIMITS, SOURCE OF FUNDS
12. SUSPENSION, TERMINATION AND CANCELLATION
13. CHANGE, INTERRUPTION, TERMINATION, AND DISCONTINUANCE OF SERVICES
14. COMPLIANCE WITH YOUR LOCAL LAWS
17. PLATFORM AVAILABILITY AND ACCURACY
18. GOVERNING LAW
20. DISPUTE RESOLUTION
21. WAIVER OF CONFLICTS
22. NO IMPLIED DUTIES
23. GENERAL FEEDBACK AND MISCELLANEOUS
Fasset Technology. Ltd is a UAE registered company (“Fasset”).
This User Agreement ("Agreement") is a valid, binding and enforceable contract between you and FTL EURO UAB (Fasset Lithuanian), a company duly established under Lithuanian law, with its registered address at Vilnius, Laisvės pr. 60, Lithuania (“Fasset” which term shall, unless repugnant to the context, also include Fasset Group).
By registering with us to open an Account through this website, any associated websites or our mobile site, mobile application and/or APIs (collectively "Platform"), you acknowledge that you have read, understood, and agree to be bound by all the terms and conditions contained in this Agreement. If you do not agree to be bound by this Agreement, do not access or use the Services.
Fasset reserves the right to change or modify the terms and conditions contained in this Agreement, 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 Platform or at the instant that we transmit the information.
By signing up to use an Account through the Platform, you acknowledge and agree that you have read, understood and accepted all of the terms and conditions contained in this Agreement, along with the following documents of Fasset as well as Fasset Group:
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, pop-up messages on the Platform, notifications on the Platform, and/or other forms of communications accessible to you when signing up to Fasset (“Communication”).
Any formal Communication with you will, unless otherwise agreed, be made in English. 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 Platform, 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 this Agreement 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.
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.
Account means your Data in connection with the opening or continuation of your account in Platform.
AML-CTF means Anti-Money Laundering and Counter-Terrorism Financing.
Applicable Laws means prevailing laws and regulations within the jurisdiction of Lithuania as amended from time to time and/or any governing regulations regarding Platform activities.
Asset means any digital asset not being a Fiat Currency, that is:
Capable of being transferred, stored and traded; and Expressed as a unit; Authority means local or foreign legal, regulatory, judicial, administrative, public or law enforcement body, or governmental, tax, revenue, monetary, exchange, court, central bank or other authorities, or self-regulatory or industry bodies or associations of financial service providers or any of their agents with jurisdiction over all or any part of the Fasset. Asset Services has the meaning given to it in Clause
3.1. Advanced Protocol has the meaning given to it in Clause 7.18.
Blacklisted Person means a person who in our sole opinion is:
In breach of the Applicable Laws of any jurisdiction
In contravention of any requirements relating to AML-CTF and/or is subject to any Sanctions;
In a list of persons with whom dealings are prohibited by the United Nations or the Authority of any relevant jurisdiction; or
Acting on behalf, or for the benefit of, any person described in paragraphs (i) to (iii) above.
Business Day means a day that is not a Saturday, Sunday, or a “public holiday” or “bank holiday”.
Communication has the meaning given to it in the beginning of this Agreement.
Control including the terms "controlled by" and "under common control with" means the power to directly or indirectly:
Determine the management or policies of a person; Control the membership of the board of directors or other governing body of a person; or Control the casting of more than one half of the maximum number of votes that may be cast at a general meeting of the person,
regardless of whether the power mentioned in paragraphs (i) to (iii) above is in writing or not, enforceable or unenforceable, expressed or implied, formal or informal or arises by means of trusts, agreements, arrangements, understandings, practices or otherwise.
Custodial Services has the meaning as given to it in Clause 3.2.
Client Bank Account has the meaning given to it in Clause 7.1.13.
Data means your personal data and information.
Dispute has the meaning given to it in Clause 19.
Enhanced Due Diligence has the meaning given to it in Clause 11.3.
Fasset Exchange means the crypto exchange that is operated by Fasset under the registration or approval issued by the Authority.
Fasset Group means collectively Fasset and all affiliates and group companies of Fasset as well as any entities which are in Control of or are Controlled by or are under common Control with Fasset.
Fiat Currency means currency, not being an Asset, that is legal tender in a country or territory and has been approved by Fasset for use as such on the Fasset Exchange.
Financial Crime Regulations has the meaning given to it in Clause 11.2.
Force Majeure Event means any event that is beyond the control of Fasset which prevents it from performing its obligations under this Agreement, including without limitation acts of God or a public enemy; acts of a civil or military authority; embargoes; natural disasters; epidemic or pandemic; labor disputes; failure in or of internet, telecommunication, technology, systems or equipment; or any law, decree, regulation or order of any Authority or any court or tribunal.
Fork(s) has the meaning given to it in Clause 7.1.11.
Intellectual Property means any patent, copyright, trademark (including any design trademark and trade-name service mark) right to know-how (which shall include the production know-how), source code, script, encryption, techniques, technology, information of a confidential nature or trade secrets; any application, registration or right to apply for registration of any rights referred to above; and any other intellectual property rights belonging to or licensed to a person or any of its affiliates in respect thereof.
Material has the meaning given to it in Schedule 1.
Network Fees has the meaning given to it in Clause 7.1.6.
Offline Storage has the meaning given to it in Clause 7.1.9.
Parties means collectively, you and Fasset, and "Party" is to be interpreted accordingly.
Platform means site made, owned, and operated by Fasset accessible through URL https://fasset.com for global customer, as well as its change from time to time, and/or mobile apps made, owned, and operated by Fasset accessible in iOS and Android through application called ‘Fasset’.
Restricted Territory has the meaning given to it in Clause 2.h.
Service has the meaning given to it in Clause 2.
Sanctions means any economic sanctions, laws, regulations, embargoes or restrictive measures imposed by regulators and/or any Relevant Authority.
Any tax, levy, impost, deduction, charge, rate, withholding or duty by whatever name called, levied, imposed or assessed by a government or governmental authority for and on behalf of a government (including withholding tax, goods and services tax, value added tax, sales tax, consumption tax, stamp duty and Transaction duties or any similar impost imposed or levied); and
Any interest, penalty, charge, fine, fee or other amount of any kind assessed, charged or imposed on or in respect of the above (including in connection with any failure to pay or any delay in payment).
Trademark has the meaning given to it in Schedule 1.
Transaction means the activity including but not limited to buy and sell Asset and/or any other activities conducted in the Platform.
Transaction History has the meaning given to it in Clause 9.1.1.
User has the meaning given to it in Schedule 1.
VFA has the meaning given to it in Clause 3.
Wallet has the meaning given to it in 3.1.ii.
Headings and terms used for definitions are for convenience only and do not affect interpretation of this Agreement.
In this Agreement, unless repugnant to the context:
References to "we", "our" or "us", are to Fasset, and references to "user", "you" or "your" are to the person with whom Fasset enters into this Agreement;
Any reference to an Asset or Fiat Currency includes any part or fraction of that Asset or Fiat Currency;
The meaning of general words is not limited by specific examples introduced by "including", "for example", "such as" or other such expressions;
The singular includes the plural and vice versa;
All of the terms and conditions of this Agreement including but not limited to all introductory paragraphs, recitals, and all schedules and documents attached hereto are contractual and binding upon the Parties hereto and are incorporated herein by reference;
A reference to “person” includes an individual, a body corporate, a partnership, a joint venture, undertaking, unincorporated association and an authority or any other person or organization;
A reference to a particular person includes the person's executors, administrators, successors, substitutes (including persons taking by novation) and assigns;
A reference to any date or time of the day refers to that date or time of the day in Lithuania;
A period of time starting from a given day or the day of an act or event, is to be calculated exclusive of that day;
If a person is required do something on or by a given day and it is done after 5.00 pm on that day, it shall be considered to have been done on the next day;
If the day on which a person is required to do something is not a Business Day, the person is required to do it on the next Business Day; and
A reference to “law” includes common law, principles of equity and legislation (including statutes, regulations, orders, rules, by-laws, ordinances and proclamations) and includes any consolidations, amendments, re-enactments or replacements of any of them.
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:
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 Platform;
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 Platform and form a binding agreement with us on its behalf;
you have not been suspended, barred or restricted from accessing the Platform 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 Platform 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 Agreement, and to enter into any transactions or use any service offered on the Platform;
all information and documentation provided by you to us for the purposes of accessing and using the Platform as well as for availing services and entering into transactions on the Platform 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 utilizing only legally obtained digital assets and/or Fiat Currency permitted in the Platform 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 Currency permitted in the Platform at the time you transfer them to us or any third parties using the Platform;