KNOW YOUR CUSTOMER (KYC) POLICY
Need for a Policy
Renaissance Digital Solutions Pvt Ltd (“Xpesa”) is a company duly incorporated under in India and runs a completely transparent and legal virtual currencies trading platform. Xpesa intends to encourage the use of Virtual Currencies among the community and make it easier to trade and exchange. To that effect Xpesa realizes that there may be some stigma attached to Virtual Currencies due to the ease with which individuals may be able to conduct and complete virtual currencies transactions anonymously. In an effort to remove this stigma, Xpesa intends to follow this entirely voluntary Know Your Customer (“KYC”) and/or Anti Fraud rules and regulations, in an effort to ensure that Xpesa’s services are not used for any illegal activities.
Due Diligence Policy
In order to ensure that Xpesa’s services are not utilized by unwanted and illegal elements to further their illegal motives, Xpesa intends to follow a wholistic Due Diligence Policy which entails the following:
The Due Diligence Policy involves the following three specific parameters: (i) Customer Acceptance Policy; (ii) Customer Identification Policy; and (iii) Highlighting Suspicious Transactions.
Customer Acceptance Policy
To achieve the object of total transparency and prevent illegal activities on our trading platforms, Xpesa has a clear policy of the kind of customers that it shall accept:
Customer Identification Policy
The objective of the Customer Identification Policy is to have a mechanism in place to establish identity of the client along with firm proof of address to prevent opening of any account which is fictitious / benami / anonymous in nature.
Proof of Identity: All customers shall have to provide scanned copies of atleast one of the documents below as proof of identity. Xpesa shall accept the following documents as proof of identity:
For Residents of India:
For Partnership Firm
Proof of Address: All customers shall have to provide scanned copies of atleast one of the documents below as proof of address. Xpesa shall accept the following documents as proof of address:
One to One Interaction: Xpesa has no mandatory policy of meeting the clients individually. However, Xpesa will be enabling customers to submit their documents in person during meet-ups and/or workshops held across the country which would allows for another level of direct KYC verification.
Authenticity Check: Xpesa may, and shall be under no obligation to, check that the documents provided by the customers as proof of identity and proof of address are authentic by cross checking them against freely available public databases.
General Conditions: While providing documents to fulfil the User Identification Policy, customers should keep in mind the following:
Termination of Account: In case Xpesa finds or is suspicious that any customer is in violation of the conditions prescribed in this Know Your Customer and Anti Fraud Policy, Xpesa shall be fully entitled to terminate the account of such customer and prevent such customer from undertaking any further activities on any of Xpesa’s platforms, existing or in future.
Prohibited Activities: Xpesa has a very strict policy of not allowing its services to be knowingly used for any “Prohibited Activities”. No customer shall use the services of Xpesa for any Prohibited Activities. Xpesa may conduct manual checks to ensure that not customer is indulging in Prohibited Activities; these checks may in future become automated. The Prohibited Activities for the purposes of this policy shall include:
“Whosoever directly or indirectly attempts to indulge or knowingly assists or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime including its concealment, possession, acquisition or use and projecting or claiming it as untainted property shall be guilty of offence of money-laundering.”
Actions: In case it comes to the knowledge of Xpesa or Xpesa becomes suspicious that any customer is engaging in any Prohibited Activities Xpesa reserves the right to terminate the account of the customer and prevent such customer from undertaking any further actions on any of Xpesa’s services, existing or in future. Xpesa shall further be fully entitled, if it so chooses, to report such suspicious activities to the appropriate authorities.
Limits For Trading Without KYC
In case of Users who have bank accounts in Select Partner Banks, Xpesa provides for a special waiver from the Customer Identification Policy, provided that such customers link their existing Bank Accounts to their Xpesa Accounts via the appropriate link. Once the existing Bank Accounts are linked to the Xpesa Account the User can trade on the Trade Engine upto a certain limit as may be prescribed by Xpesa. In case of Users of any other Bank Accounts or trading beyond the prescribed limits, the Users will have to provide KYC documents as per the customer identification rules and regulations.
This policy would be reviewed as per the sole discretion of Xpesa in line with review requirements of Xpesa but not later than once a year.
User may open a User Account subject to the following conditions:
iii) Xpesa reserves the right to reject opening, registration or validation of a User Account on any ground(s), at its sole discretion, with due regard to legal and regulatory concerns pertaining to virtual/crypto currencies.
In addition to the terms contained herein, Users shall be bound by the terms of Xpesa’s Anti-Money Laundering Rulesand Regulations (“AML Rules”). By virtue of using any part of the Xpesa services, and/or by virtue of accepting and entering into this Agreement, Users are deemed to have accepted, and to have agreed to comply at all times withthe AML Rules. Only Users complying with the following Know Your Customers (“KYC”) procedures, as well as all terms and procedures contained in the AML Rules, would be permitted to avail the Xpesa services:
iii) Existing Users may be called upon to comply with the KYC, AML Rules and the verification process contained in theseTerms and Conditions. In the event of termination or deactivation/suspension of an existing User Account, Users shall be duly intimated by Xpesa, along with reasons for such deactivation/suspension and the procedures for redress (if any). Delay in termination or suspension of such User Accounts shall not amount to a waiver of the mandatory information and documentary requirements, contained in this Terms and Conditions
3.1 Xpesa provides a platform for trading in virtual currencies and crypto assets (hereby referred as ‘Virtual Currencies’). The User hereby expressly agree and warrant that:
3.2 Xpesa and its owners/affiliates/associates are not liable for any damages or losses or opportunity costs, caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in transmission or operations, computer virus, trojan(s), communications line failure, and unauthorized access to the User Accounts or Xpesa’s personal account(s). Xpesa is not responsible for any technical failure or malfunction of the software and/or delays of any kind. Xpesa are also not responsible for non-receipt of registration details or e-mails. Users shall bear all responsibility of keeping his username and password secure. Xpesa shall not be responsible for any loss or misuse of the User Account’s username and/or password.
3.3 Xpesa shall not be responsible for the content of any of the linked sites. By providing access to other web-sites, Xpesa is neither recommending nor endorsing the content available in the linked websites.
3.4 Xpesa and the User are aware that although there is no legal bar or impediment to trading in Virtual Currencies in Africa. The User is hereby made aware of the nebulous legal situation regarding Virtual Currencies and Xpesa shall not be liable for any proceedings against the User in any Court of law or before any governmental, administrative, regulatory, judicial or quasi judicial authority.
4.1 The User acknowledges that he/she is fully aware of the risks involved in online trading activities, including the risk involved due to unauthorized access and/or any technical difficulties. Furthermore, in the digital space, should an error occur with respect to the tracking of any User’s holding(s) or order entry, the true, actual and correct transaction or position may not be restored. It shall be the User’s responsibility to ensure correctness and accuracy of their User Account holding(s) or order entry and to contact Xpesa immediately in respect of any discrepancies.
4.2 Users are advised to use the content and data on the Xpesa website only for the purpose of information and rely on their own skill and judgment, while making an investment and/or trading decisions. Information provided by Xpesa on its website should not be considered as advice rendered by Xpesa.
4.3 Xpesa does not make any recommendations. The information on our website is provided solely to enable Users to make their own investment or trading decisions and does not constitute a recommendation to buy, sell or otherwise deal in Virtual Currencies.
4.4 The price and value of investments in Virtual Currencies and the income derived from them can go up or down and you may not get back the capital/money invested/traded. Changes in the fiat currency exchange rate may have an adverse effect on the value, price and your investment. The services and investments in Virtual Currencies may have tax consequences and it is important for the User to bear in mind that Xpesa does not provide any tax advice pertaining to the Virtual Currencies. The level of taxation depends on individual circumstances and such levels and bases of taxation can change. You should consult your own tax advisor in order to understand any applicable tax consequences.
4.5 Virtual Currencies trading has specific risks, which are not shared with other recognised fiat currencies, goods or commodities in a market. Unlike most recognised fiat currencies, which are supported by government reserves or other institutions, as well as commodities such as silver and gold, Virtual Currencies are only backed by mathematics, technology and trust. The Virtual Currencies are absolutely decentralized through blockchains , which means there is no authority (including Xpesa) that can take corrective measure to protect the Virtual Currencies value in a crisis or issue more currency. When using Virtual Currencies – traders put their trust in the digital, decentralized and mostly anonymous system, which relies on P2P networking and cryptography to maintain its integrity.
4.6 Any actions, connected to Virtual Currencies can crash confidence in this currency, such as unexpected changes imposed by the currency developers, a government crackdown, the creation of a superior competing Virtual Currencies alternative, or even a deflation or inflation spiral. Confidence might also collapse because of various technical problems: if the anonymity of the system can be compromised, funds lost or stolen, or in the event that hackers or governments become able to prevent Virtual Currencies transactions from settling. Xpesa shall not be liable for any loss or damages, caused to the User due to any of the risks related to trading in Virtual Currencies, whether currently known or unknown.
4.7 The content of the website cannot be copied, reproduced, republished, uploaded, posted, transmitted or distributed for any non-personal use without obtaining prior permission from Xpesa. We reserve the right to terminate or suspend the accounts of the Users who violate the proprietary rights, in addition to necessary legal action.
4.9 Price and availability of Virtual Currencies offered on the platform are subject to change without prior notice.
4.10 Users agree that they understand the meaning of Limit Order and Market Order and the risk involved in placing orders in the order book. Xpesa shall not be liable for any loss caused to the User due to any of the risks involved while placing orders.
5.1 General: The User hereby agrees and warrants that all information and particulars provided by the User has been provided voluntarily without any inducement or under any pressure and is true to the best of his/her knowledge and belief. In case of any particulars provided by the User being incorrect or non-authentic, Xpesa shall be at the liberty to terminate or suspend, the User´s account. Xpesa further reserves the right, at its sole discretion, to deny the User access to theXpesa´s trading platform or any portion thereof without notice for the following reasons: (a) any unauthorized or illegal access or use by the User; (b) any assignment or transfer (or attempt to do the same) of any rights granted to the User under these Terms and Conditions; (c) any violation of these Terms and Conditions.
5.2 Single Registration: Each individual is allowed to register only once and no person is allowed to create multiple Accounts. If any User is found to be using or registered with multiple Accounts, such User´s access to the trade platform may be suspended and/or terminated. The use of scripts or any automated system to register is strictly prohibited. Xpesa assumes no responsibility for lost, late, incomplete, incorrect, or misdirected registrations. Xpesa shall not be responsible for technical, hardware or software malfunctions, misdirected entries, lost or unavailable network connections, or other communications or other technical problems related to the registration.
5.3 Change of e-mail ID is not permitted on the platform. Xpesa shall not be responsible for any loss to the Users if the Users Account is compromised.
5.4 Deposits and Withdrawals: All the withdrawal requests may take upto twenty four (24) hours to process. Only “authorized” withdrawal requests shall be considered for withdrawal. Xpesa cannot guarantee a withdrawal within 24 hours and it may take upto a week based on the bank´s discretion. Deposits may be reflected in the User´s wallet within twenty four (24) hours from the time Xpesa receives the funds in the designated bank account. Xpesa does not guarantee that the User Account balance will be updated within 24 hours.
6.1 Xpesa shall accept deposits from an account held by the User in any scheduled bank. The User shall create a User Account on the platform and fill& submit the necessary details including the bank details requested on the web page (bank account number, Code, etc.). Your Xpesa User Account shall, after verification, automatically get linked to your bank account.
6.2 Xpesa shall accept deposits from the verified bank accounts only. Any deposit made from non-verified bank account may not be credited to User Account. For change of bank account, User shall send an e-mail to Xpesa stating the reason of change of bank account along with attachment ofthe relevant bank documents.
6.3 Xpesa expressly disclaims all the responsibility for any loss caused to the User due to linking of the User´s Xpesa Account with the User´s bank account or while executing any trades using Xpesa, for whatever reason, unless the same has been caused due to the gross negligence of Xpesa.
6.4 Directing the proceeds of a sale to a third party shall be expressly prohibited and shall result in immediate suspension and/or termination of the User Account. A third party is any party other than the User and Xpesa. The User shall be expressly prohibited from opening an account under a third party or fictitious name for the purpose of using this Xpesa service to pay a third party. Users are expressly prohibited from registering a payment method for a third party in their Xpesa Account for the purpose of using this service to pay a third party. Third party transactions are expressly prohibited and will result in immediate suspension and termination of the User’s Xpesa Account.
7.1 Opening a User Account Once the User creates an Account by registering with Xpesa, the User shall be allowed to place orders in the exchange area. Each Account shall be linked with the User´s bank account as per the details provided by the User who can use the money in such linked bank account and start trading with other Users. Once the User enters the trading area the User shall see the following displays:
7.2 User´s Xpesa Wallet The Users shall also be able to view the available and on hold balance in their account at all times. A Users account balance shall display the Virtual Currencies balance as well as money (rupee) balance currently in the User´s account.
7.3 Markets The Users shall also be able to view the available markets where he/she can trade at any time. We do not show any other exchanges prices.
7.4 User’s Orders User´s Orders displays all of the User´s pending trade requests (both Buy and Sell transactions) that are yet to be executed/ completed /cancelled/ partially filled. In the event that a User´s trade has not been completed/ partially filled, the User can choose to cancel the order that is pending. Please note that a trade request can only be cancelled when it´s still pending. Once a transaction has been executed/ completed, it may no longer be cancelled. Users shall be able to see all the completed/ cancelled trades (both Buy and Sell transactions) pertaining to the User in their respective Accounts.
7.5 Buying Virtual Currencies
7.6 Selling Virtual Currencies
The participation by the User in the exchange platform does not in any way constitute any gambling, betting, wager, speculation, lottery, raffle, sweepstakes, etc. in any form whatsoever. There has been no collection of any money, cash or other valuable thing from the User by Xpesa for any such purpose. Xpesa only charges a fee from its Users for the services of providing the trading platform. The Fee Schedule is subject to change from time to time at the sole discretion of Xpesa.
9.1 Xpesa has zero tolerance towards use of any portion of the Xpesa services for or in connection with any illegal or unlawful purpose. Any such use of the Xpesa services by any User shall result in forthwith termination of the relevant User Account, and Xpesa shall cooperate with governmental and regulatory authorities in the reporting and investigation of such actions (including by providing any information and details that such User has provided to Xpesa).
11.2 Xpesa shall indemnify User and hold harmless against and in respect of any losses incurred or suffered by the User solely due to any proven wilful and malicious act or default on the part of Xpesa. Xpesa shall not be liable for any losses arising out of risks or consequences set out in the representations and warranties, which have been read, acknowledged and understood by the Userby virtue of their use of the Xpesa services, or for actions initiated by Xpesa against User for suspension, cancellation or termination of their User Account for any reason. The liability of Xpesa in any event shall be limited to the amounts actually received from the User, as consideration for the services rendered by Xpesa in relation to the transaction to which the indemnity claim relates. If the claim does not relate to any transaction in particular, then Xpesa’s liability shall be limited to the amounts actually received from the User, as consideration for the services rendered by Xpesa in relation to the three transactions immediately preceding the date on which the claim is made by the User.
11.3 These provisions shall survive the expiration or termination of this Agreement.
12.1 Unless otherwise specified, all materials on Xpesa App and services are the property of Xpesa and are protected under copyright, trademark and other applicable laws;
12.2 Users may view, print, and/or download a copy of such Materials on any single computer solely for his/her personal, informational, non-commercial use, provided he/she keeps intact all copyright and other proprietary notices;
12.3 The trademarks, service marks and logos of Xpesa and others used in Xpesa and services (“Trademarks”) are the property of Xpesa and their respective owners;
12.4 The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this website belong to Xpesa;
12.5 User or visitor to this website or any persons using or viewing Xpesa Apps are strictly prohibited from copying, reproducing, publishing, republishing, circulating, modifying, uploading, transmitting, collecting and / or distributing the trademarks and materials of Xpesa in any form or by any means, whether manual or automated;
12.6 Any unauthorized use of such property will be in direct violation of copyright, trademark, and other applicable laws and will result in criminal and/or civil legal actions and penalties;
12.7 Users shall not reverse engineer or disassemble any aspects of the Xpesa App or Xpesa services for any reason whatsoever. Any such action shall amount to violation of the Xpesaintellectual property rights in and to such software;
12.8 Xpesa services includes third party IP including the software used for creating or distributing Cryptocurrencies. Xpesa does not own any rights to such third-party IP and is bound by the license
13.2 The User specifically agrees that the Xpesa shall not be liable for any loss, actual or perceived, caused directly or indirectly by any government restriction, exchange or market regulation, suspension of trading, war, strike, equipment failure, communication line failure, system failure, security failure on the Internet, unauthorised access, theft, or any problem, technological or otherwise, or other condition beyond the control of Xpesa. The User further agrees that it will not be compensated by Xpesa for “lost opportunity” viz., notional profits on buy/sell orders which could not be executed.
The registrations are open to individuals who are eighteen (18) years of age or older at the time of registration and are of sound mind and able to enter into legally enforceable contracts.
The User hereby expressly acknowledges and agrees that the User has initiated the act of registering on Xpesa entirely of his/her own free will and Xpesa has not caused, induced, urged, prompted, instigated, drawn, compelled, persuaded or engendered the User to open an Account and trade in Virtual Currencies in any manner or form.
16.1 The User acknowledges and agrees that Xpesa may from time to time need to make structural changes to the trading platform that could result in system downtime, i.e. the website and the trading platform being unavailable for access. Any such changes will (where possible or necessary) be broadcast in advance to all Users, and carried out at times which Xpesa considers will cause the least disruption.
16.2 Xpesa shall have no liability to the Users for any downtime to the trading platform for any reason whatsoever, nor for any downtime caused by general Internet failure, the failure of any Internet connection or the failure of any User equipment.
In case of any grievance or complaints with the platform or its performance, the User can contact Xpesa at firstname.lastname@example.org . Once a complaint has been received, all endeavors will be made to address the complaint as soon as possible.
18.2 The use of software, machines, computers, scripts or any automated system is strictly prohibited. If any User tries to influence the rate of exchange of Virtual Currencies or gain an unfair advantage in any manner whatsoever, such User shall be liable to be prohibited from conducting any further transactions on the Trade Platform and may be reported to the appropriate authorities. Any decision in this regard shall be taken at the sole discretion of Xpesa and shall be final and binding.
18.3 Any attempt by a User or any other individual to deliberately damage the platform or undermine the operations of Xpesa is a violation of criminal and civil laws and should such an attempt be made, Xpesa reserves the right to seek damages from any such User to the maximum extent permitted by law.
18.4 Completion of a transaction may be stopped by Xpesa at any time if Xpesa, in good faith, believes that such transaction may be fraudulent or may adversely impact the Virtual Currencies economy, or may adversely impact the exchange rate of Virtual Currencies, etc.
18.5 The Xpesa platform is for the exclusive purpose of transactions to be carried out within the territorial jurisdiction of India and all such transactions shall be governed by the laws in India. Notice is hereby given that Non Resident Indians (NRI´s) and Foreign Nationals accessing this web site and opting to transact thereon shall do so after due verification at their end of their eligibility to do so. Xpesa undertakes no responsibility for such pre-eligibility of qualification on part of Non-Resident Indians (NRI´s) or Foreign Nationals to transact on this website.
18.6 The User agrees that, whenever a transaction is made, the Trade Platform sends and receives the monetary sums and/or Virtual Currencies from the User´s Account in the User´s name and on the User´s behalf, through the system.
18.7 The User is responsible for maintaining the confidentiality of information on his/her Account, including, but not limited to the password, email, wallet address, wallet balance, and of all activity including transactions made through the Account. If there is suspicious activity related to the User´s Account, Xpesa may request additional information from the User, including authenticating documents, and freeze the Account for the review time. The User is obligated to comply with these security requests, or accept termination of the Account.
18.8 The User shall be solely responsible for ensuring that any transfer of Virtual Currencies to a transferee shall be a valid and legal transaction not infringing any laws including money-laundering laws and regulations of India or any other applicable jurisdiction.
18.9 Xpesa reserves the right to cancel unconfirmed User Account(s) or User Account(s) that have been inactive for a period of six (6) months or more, and/or to modify or discontinue exchange platform or the trading platform. The User agrees that Xpesa shall not be liable to them or to any third party for termination of their User Account or access to the website. The suspension of an User Account shall not affect the payment of the commissions due for past transactions. Upon termination, Users shall communicate a valid bank account to allow for the transfer of any currencies credited to their account. Virtual Currencies may be transferred to a valid bank account only after conversion into local currency.
19.1 User and Xpesa agree and confirm the following terms for continuation, suspension, cancellation or termination of this agreement.
19.2 This agreement shall come into effect upon confirmation of the terms by the User herein and subsist till termination of the same upon any of the reasons set out hereunder (“Term”).
19.3 Xpesa reserves the right to suspend or terminate a User account for the following reasons (“Termination”).
19.4 Xpesa shall be entitled to suspend, and after due verification, and its sole discretion, terminate a User Account immediately upon the occurrence or detection of any of the following:
iii. Misrepresentations or misstatements by a User, or any inaccuracy, falsehood or misrepresentation in any of the information, documentation or details provided by a User;
19.5 In addition to the above the following actions or circumstances shall give the right but not the obligation for Xpesa to suspend and / or terminate a User Account:
iii. if Xpesa has reasonable apprehension that User may be misusing the Xpesa services for any unlawful activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, or if there are unaccounted for amounts retained in the relevant User Account, or if the User Account has been used for inordinately large transactions or transactions with an unclear or indeterminate purpose;
19.6 Xpesa may also suspend and thereafter terminate any User Accounts for the following reasons:
iii. If continuation of Xpesa services is difficult or impossible due to technical or operational issues or due to change in the legal, regulatory or statutory provisions;
19.7 Each of the instances set out above may be invoked to suspend and thereafter terminate this agreement (Terms and Conditions), or to directly terminate this agreement.
19.8 In addition to the above, these Terms and Conditions shall stand automatically terminated if either party (a) becomes insolvent; (b) makes an assignment for the benefit of its creditors; (c) files a petition for bankruptcy; (d) takes steps towards dissolution or liquidation; or (e) appoints a trustee or receiver for all or any part of its assets.
19.9 The terms of this agreement, which by their very nature survive termination of this agreement shall subsist. Without prejudice to the generality of the above, provisions pertaining to IPR, data, Confidentiality, Privacy, Indemnity, Limitation of Liability, Governing Law, Dispute Resolution and choice of jurisdiction shall survive termination or cancellation of this agreement.
19.10 Process for Termination
Xpesa may terminate the agreement forthwith for any of the reasons set out above or first suspend the account pending verification and thereafter issue a communication of termination, where Xpesa determined that it is practicable to do so. Each of the instances set out above may be invoked for instantaneous termination or cancellation of the User Account. The onus of proving bad faith shall be on the User. In any event damages shall not exceed the amounts credited in the User Account, as on the date of suspension, cancellation or termination, whichever is earlier. User may terminate this Agreement with written notice to Xpesa, but such termination shall only be effective once such notice is accepted and acknowledged by Xpesa.
19.11 Consequences of Termination
Upon termination of this agreement or earlier determination, the following consequences shall ensue:
iii. Parties shall be entitled to the rights and dues already accruing to them.
vii. Permissions and licenses granted to User under this Agreement shall cease immediately upon termination of this agreement, and the User shall not be entitled to any access to the User Account or the Xpesa Services, or any rights or benefits in this respect, in any manner whatsoever.
viii. User shall return to Xpesa any of Xpesa’s IPR, or affirm deletion thereof immediately upon termination of this Agreement.
20.1 Xpesa shall not be responsible for any incorrect or inaccurate registrations, whether caused by the User or by any of the equipment or programming associated with or utilized in the trading platform or by any technical or human error which may occur in the operation of the trading platform.
20.2 The User expressly understands and agrees that under no circumstances shall Xpesa be liable to any User on account of that ´s use or misuse of and reliance on the Xpesa platform. Such limitation of liability shall apply to prevent recovery of direct, indirect, incidental, consequential, special, exemplary, and punitive damages (even if Xpesa has been advised of the possibility of such damages), whether the damages arises from use or misuse of or reliance on the trading platform, from inability to use the tradingplatform, or from the interruption, suspension, of the trading platform (including such damages incurred by third parties), or from a sudden loss in the price of Virtual Currencies, or any technical failure or hacking attacks on the Xpesa servers, or any change in law or regulatory framework in India.
20.3 All information is provided on an “as is” basis, with no warranties whatsoever. A possibility exists that the platform could include inaccuracies or errors. Additionally, a possibility exist that unauthorized additions, deletions or alterations could be made by third parties to the site. Although Xpesa attempts to ensure the integrity, correctness and authenticity of the site, it makes no guarantees whatsoever as to its completeness, correctness or accuracy. In the event, that such an inaccuracy arises, please inform Xpesa so that it can be corrected.
20.4 All express, implied, and statutory warranties, including, without limitation, the warranties of merchantability, fitness for a particular purpose, and non-infringement of proprietary rights, are expressly disclaimed to the extent permitted by law. To the extent permitted by law, Xpesa disclaims any warranties for (i) the security, reliability, timeliness, and performance of the trading platform; (ii) other services or goods, as well as for any information or advice received through Xpesa or through any links provided herein.
20.5 The User agrees that Xpesa shall not be liable for:
20.6 Xpesa cannot and does not guarantee or warrant that the files available for downloading through the trading platform or the trading platform itself will be free from infection by software viruses or other harmful computer code, files or programs. Xpesa shall not be responsible for any software viruses or other harmful computer code, files or programs that the User may encounter due to your visiting this trading platform.
20.7 Xpesa has not reviewed all of the sites linked to its trading platform and shall not be responsible for the contents of any such linked sites. The inclusion of any link does not imply Xpesa´s endorsement of the site. Use of any such linked website(s) is at the User´s own risk.
20.8 If the User has a dispute with one or more Users, the User hereby releases Xpesa (and its parent, officers, directors, agents, joint ventures, employees and suppliers) from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.
21.1 The Users agree not to do any of the following:
21.2 The usage of the Xpesa platform by the Users shall not relate to sales of:
21.3 The User’s usage of the Xpesa platform shall not relate to transactions that:
No omission or delay on the part of Xpesa in enforcing any of its rights or powers hereunder shall be deemed to constitute a waiver of any of Xpesa´s rights to exercise such rights and powers and, in any event, shall not constitute or be construed as a continuing waiver.
23.1 Any notice or other communication provided for in this Agreement shall be sent only through electronic mail. User hereby agrees to receive electronic or any other form of communication and notifications from Xpesa. Email messages sent over the Internet are not always secure and Xpesa is not responsible or liable for non – receipt of such communication by User. Once the email is dispatched by Xpesa, it shall be deemed to have been served on the User. Xpesa shall be deemed to have received communications from the User only upon actual receipt into the Inbox of the account of the person to whom such communication is addressed and acknowledged. Xpesa shall not be liable or responsible for non – receipt of communications or for any damages incurred by the result of sending email messages over the Internet.
23.2 All communications to Xpesa shall be at: email@example.com . Xpesa shall ensure that any change or modification to the same is uploaded on Xpesa.
23.3 All communications to User shall be at the electronic mail address provided by User, as part of the KYC norms or via in – App messages or SMS to the User’s registered mobile number. User shall ensure that any change in the electronic mail address or communication option is duly intimated to Xpesa.
24.1 These Terms and Conditions and any action related hereto will be governed by the laws of India without regard to its ‘conflict of laws’ provisions. The exclusive jurisdiction and venue of any action with respect to the subject matter of these Terms and Conditions will be the courts in Malta and you hereby waive any objection to jurisdiction and venue in such courts.
This Agreement or any rights or obligations hereunder shall not be assigned by the service provider to any third party without the prior written consent of the Customer. The Customer may assign all or any of his rights without prior intimation or approval of the Service Provider to any third Party.
This Agreement shall bind and inure to the benefit of the parties, and their respective successors and permitted assigns.
27.1 The invalidity or unenforceability of any provision of this Agreement shall not in any way affect, impair or render unenforceable this Agreement or any other provision contained herein, which shall remain in full force and effect.
27.2 This Agreement shall be considered divisible as to such provision, which is deemed to be invalid or unenforceable and the remainder of this Agreement shall be enforceable and binding on the Parties.
No provision of this Agreement may be waived or changed except by a writing signed by the party against whom such waiver is sought to be enforced. The failure or omission by either party at any time to enforce or require strict or timely compliance to any provision of this Agreement shall not affect or impair that provision or any other provision in any way or the rights of such party hereof, to avail itself of the remedies it may have in respect of any subsequent breach of that or any other provision.
None of the provisions of this Agreement shall be deemed to constitute a partnership between the parties hereto and no party shall have any authority to bind or shall be deemed to be the agent of the other(s) in any way. User shall not misrepresent or mislead or induce any person to avail of Xpesa services or to invest in any crypto currency.
© Xpesa Limited 2019