Terms & Conditions

  • Xpesa KYC Policy
  • Acceptance
  • Xpesa User Account
  • Disclaimer
  • Risks
  • Registration Rules
  • Linking Of Bank Account
  • Rules
  • Fees
  • Anti-money Laundering (Aml) & Anti – Abuse Rules
  • Force Majeure
  • Indemnity
  • Intellectual Property Rights (“ipr ”)
  • Indemnity And Waiver
  • Eligibility
  • No Inducement Of The User
  • Downtime
  • Grievance Redressal
  • General Conditions
  • Term & Termination
  • No Liability
  • General Prohibitions
  • No Waiver
  • Notices
  • Controlling Law And Jurisdiction
  • Assignment
  • Successors
  • Severability
  • Waiver
  • Relationship

Xpesa KYC Policy

KNOW YOUR CUSTOMER (KYC) POLICY

Need for a Policy

Xpesa Ltd is a company duly incorporated in UK 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.

Legal Requirements

  • For India, The Reserve Bank of India (“RBI”) has issued Master Direction no. DBR.AML. BC.No.81/14.01.001/2015-16 titled “Know Your Customer (KYC) Directions, 2016” dated February 25, 2016 is applicable to all regulated entities that are regulated by RBI, which includes Indian banking entities, financial institutions, non-banking finance and residuary companies, payment system providers, system participants, prepaid payment instrument issuers and all authorised persons who are regulated by RBI.
  • The RBI KYC Direction 2016 prescribed a customer identification procedure to enable the enforcement of the Prevention of Money Laundering Act, 2002 of India. Under Section 3(a)(vi) of the RBI KYC Direction, six (6) documents have been recognised as “Officially Valid Documents” for proving the identity and address of the customer of the regulated entities. The above stated Officially Valid Documents required as per the RBI KYC Direction are listed below as follows:
  1. Passport
  2. Driving license
  3. iii.Permanent Account Number (PAN) Card
  4. Voter’s Identity Card issued by the Election Commission of India
  5. Job card issued under the National Rural Employment Guarantee Act, 2005 (NREGA) and duly signed by an officer of the State Government
  6. Letter issued by the Unique Identification Authority of India (UDAI) containing details of name, address and Aadhaar number (AADHAR Card)
  • Xpesa believes in total transparency and adherence to the law and discourages any of illegal activities while using Xpesa’s services. In order to discourage and prevent any person from indulging in illegal activities using its services, Xpesa has made the KYC Policy purely as a measure of prudence and on an entirely voluntary basis.

 

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:

  1. Obtaining sufficient information about the client in order to identify who is the actual beneficial owner of the securities or on whose behalf transaction is conducted.
  2. Verifying the customer’s identity using reliable, independent source document, data or information.
  3. Conducting on-going due diligence and scrutiny of the account/client to ensure that the transaction conducted are consistent with the client’s background/financial status, its activities and risk profile.

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:

  1. Xpesa shall only accept clients who are able to provide complete and true documents in line with the Customer Identification Policy set out below. Customers who do not supply the essential information required while filling in the form provided for registration shall not be accepted.
  2. Xpesa shall use known publicly and freely available portals to check the authenticity of the identification documents provided by the customers and any persons whose documents appear to be unclear, insufficient, fraudulent or misleading shall not be allowed to register, and if registered, their registration shall be terminated.
  3. Any customers whose registration information does not match the documents provided or appears to be fictitious may not be registered, and if registered, their registration shall be terminated.
  4. No customers shall be allowed to register in fictitious names or if the customer appears to be an anti social element or is found to have a record of fraud, cheating or forgery.
  5. Xpesa shall not accept any customers who are below eighteen (18) years of age and/or above the age of seventy five (75) years and/or who do not have the mental capacity to enter into legally binding contracts. However it shall not be the responsibility of Xpesa to determine the legal capacity of the customers and a warranty regarding their legal capacity shall be considered as satisfactory fulfilment of this condition.
  6. Xpesa may ask for additional information at any point of time and if the customer refuses or is unable to provide such additional information then such customer shall not be registered, and if registered, their registration shall be terminated.

 

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:

  1. Aadhaar Card (Front and back both)
  2. Bank Statement
  3. PAN Card

For NRIs:

  1. Passport or Aadhaar Card (Front and back both)
  2. Bank Statement
  3. PAN Card

For Corporates:

  1. Company’s PAN Card
  2. Certificate of Incorporation
  3. Memorandum & Articles of Association
  4. Board Resolution for Trading in crypto currency using corporate account at Xpesa
  5. PAN of Authorised person
  6. Cancelled bank cheque
  7. PAN Card/ Government approved ID proof of any one of the director
  8. Address proof of company
  9. Address Proof of authorised person

For Partnership Firm

  1. PAN Card
  2. Certificate of Registration (for registered partnership firms only)
  3. Partnership Deed
  4. Authorisation Letter for trading/investment in Xpesa
  5. PAN of Authorized person
  6. Address proof of firm
  7. Address Proof of authorised person

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:

  1. Aadhaar Card
  2. Passport
  3. E-Aadhaar card.

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:

  1. Please upload clear scanned copies only. Scanned images should be in color and in high resolution, however, the file size should not be greater than 5 MB. Acceptable formats for the scanned copies are JPG, PNG or PDF.
  2. All documents should be valid on the date of submission and should not have expired.
  3. Documents should be provided in English or with certified translation in English
  4. In case address proof submitted is not in the name of applicant then an additional document supporting the relationship with the addressee should be submitted by email such as marriage certificate, gazetted copy of name change or passport, visa etc. stating name of spouse/ guardian & their relationship.

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.

Suspicious Transactions

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:

  1. Fraud: any act or omission, including a misrepresentation that knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial or other benefit or to avoid an obligation.
  2. Corruption: offering, giving, receiving, or soliciting, directly or indirectly, anything of value to influence improperly the action of another party.
  3. Collusion: arrangement between two or more parties designed to achieve an improper purpose, including influencing improperly the actions of another party.
  4. Terrorist financing: provision or collection of funds, by any means, directly or indirectly, with the intention that they should be used or in the knowledge that they are to be used, in full or in part, in order to carry out any terrorist related offences.
  5. Criminal conduct: conduct, which constitutes an offence in any part of the world or would constitute an offence in any part of the world if it occurred there.
  6. Money laundering: Money laundering is essentially the process of engaging in such financial transactions that are designed to conceal the true origin of criminally derived proceeds for the purpose of ensuring that such proceeds appear to have been received through legitimate sources/origins. It has been defined under the Prevention of Money Laundering Act, 2002 in the following words:

“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.

Policy Review:

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.

Acceptance

Xpesa Ltd. (“Xpesa”) reserves the right to update and change, from time to time, these Terms and Conditions, the Privacy Policy, the KYC and Anti Fraud Policy and all other documents incorporated herein by reference without any notice to or re-acceptance from the User. By registering with Xpesa and creating your account (“Account”) to use the live trade platform for trading in Virtual Currencies (“Trade Platform”), you (“User”) are hereby agreeing to be bound by these terms and conditions (“Terms and Conditions”).

Xpesa User Account

User may open a User Account subject to the following conditions:

  1. Opening of User Account
  2. User may create a User Account by first downloading and installing the App on their Android smartphone or iPhone by using the Play Store or App Store or any other compatible extension, as applicable, subject to the Terms and Conditions contained herein.
  3. ii) User shall comply with the procedures prescribed for opening the User Account, including providing a valid and subsisting email address and completing the verification process and providing all requisite details and documents.

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.

  1.  Data Disclosures & Consent
  2.  User hereby allows access to and consents to Xpesa availing of and using the personal data and sensitive personal data and information of the User including but not limited to:
  3. name, address, contact information identification documents and details contained therein;
  4. mobile numbers and IP addresses from which the Xpesa services are being accessed; and
  5. identity number(s) and requisite detail(s) of all equipment/devices utilised to access or avail of the Xpesa services, including the device numbers, model and such or other details that may be required which may include sensitive personal information required for allowing or completing the transactions envisaged herein.
  6. ii) Xpesa may call upon User to furnish additional details and / or documents, either pursuant to the governmental or regulatory compliance or due to modifications in any terms contained herein. User hereby agrees and undertakes to comply with the same within the timelines prescribed.

iii) In addition to the terms and conditions contained herein, Users shall be bound by the terms of the Privacy Policy available at [*].

  1. c) Know Your Customer Compliance

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:

  1. i) Users shall provide the following details,along with digitized copies of supporting documents for such details, simultaneously with the application for a User Account on the Xpesa Platform, failing which the User Account shall not be activated:
  2. Name in Full, as in the Bank Account;
  3. Contact Number;
  4. Email Address;
  5. Tax Identification;
  6. Bank Account Details including the Bank Account Number; Account Holder’s Name in full.

 

  1. ii) User hereby consents to retention of the above details and documents by Xpesa for its own use, for as long as Xpesa deems necessary. Xpesa shall have the right to retain the above details and documents even for of those Users who sought to use the Xpesa services and whose registration or validation has been rejected by Xpesa or whose User Account has been suspended for any reason.

iii) Xpesa shall take reasonable care and caution in the collection and retention of allinformation, data and documents provided by the Users. Xpesa shall comply with the terms of the Privacy Policy available at http://xpesa.io/privacypolicy.php  for collection and retention of User data, including sensitive personal data and information. The Privacy Policy may be periodically reviewed and revised, modified or updated. By accepting the Terms and Conditions herein and by continued use of the Xpesa services, Users are deemed to have agreed to such revised terms of the Privacy Policy, and shall be bound by such terms. In the event that a User does not wish to comply with the Privacy Policy or the Terms and Conditions, the User shall submit a request for termination of his User Account to Xpesa. On receipt of such a request, Xpesa shall suspend the User Account within 24 hours of such a request and shall take reasonable steps to terminate the User Account, whilst retaining data under this Terms and Conditions, the right to retain the same would survive the termination of the User Account.

  1. v) Acceptance of the Terms and Conditions herein shall also be deemed as an acceptance of the Privacy Policy and the AML Rules, and the terms contained therein. Users are required to read, understand and affirm the AML Rules and the Privacy Policy before consenting to the Terms and Conditions.
  2. vi) Xpesa may call upon User to furnish additional details and/or documents, either pursuant to any governmental or regulatory requirements, or due to modifications in any of these Terms and Conditions, the Privacy Policy or any other AML Rules or regulations. User hereby agrees and undertakes to comply with the same within the timelines prescribed.
  3. d) Verification Process
  4. i) Xpesa shall, activate the User Account upon verification of the details to its satisfaction, provided through the KYC process included in this Terms and Conditions and in the AML Rules. In the event of any factual inaccuracies or other issues with the detail(s)and/or documentation(s) provided by a User during the initial process of registration/validation or at a latter time, Xpesa shall be entitled to forthwith terminate the User Account without notice to the concerned User, and such User shall not be permitted to use the User Account or the Xpesa services thereafter. Xpesa may call upon User to furnish additional details and/or documents, either pursuant to governmental or regulatory requirements, or due to modifications in these terms and conditions, the Privacy Policy or any other regulations that Xpesa imposes on its Users. Xpesa shall be entitled to terminate or suspend activation of an existing User Accounts for non–compliance with such requests for further details and/or information after due notice.
  5. ii) Xpesa may, at its sole discretion, send to the User intimation of reasons for non-activation of a User Account. Xpesa shall not be under any obligation, however, to provide such a notice.

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

Disclaimer

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:

  1. a) The User is aware that Virtual Currencies are volatile assets whose price is subject to sharp changes which may result insubstantial profit(s) or loss(es) to the User;
  2. b) Xpesa has in no way induced and/or lured the User into opening an Account with Xpesa to trade in Virtual Currencies;
  3. c) The money or consideration, used to buy the Virtual Currencies has been received by the User through legal means and/or modes and is not in any way connected with any illegal or fraudulent or criminal activity;
  4. d) The User is the legitimate owner and is allowed to use all Virtual Currencies deposited on his/her Account and that the transactions being carried out by the User do not infringe the rights of any third party or any applicable laws;
  5. e) Information provided by the User to Xpesa including identity, personal and/or bank information as well as documents are true, accurate and authentic in all respects;
  6. f) The Users shall not use the User Account for any commercial purpos(es);
  7. g) The User shall be above eighteen (18) years of age and has the legal and mental capacity to enter into legally binding contracts with third parties and has acted under no duress and/or coercion; and
  8. h) The User is aware that Xpesa may change these Terms and Conditions at any time.

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.

Risks

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.

4.8 Users agree that the information gathered from the Users’ profiles may be used to enhance their experience on the platform. Xpesashall not rent or sell the profile to any third party other than in accordance with the Privacy Policy. In case of a contest or a promotion scheme, Xpesa reserves the right to share the User profiles with the sponsors. In the event of necessary credit checks or collection of payments or taxes, Xpesa can disclose such information to other authorities including income tax department in good faith.

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.

Registration Rules

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.

Linking Of Bank Account

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.

Rules

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

  1. a) In the event that User intends to purchase Virtual Currencies, the User is required to place a trade request with the exchange platform for the same. User can choose to place orders at Limit or at Market. In order to place a limit order, User shall specify the amount of Virtual Currencies and the price at which User intends to buy. In order to place a market order, User shall specify how much he/she is willing to pay in total for the order. User shall understand the risk of any losses occurred due to lack of knowledge of the “Limit Order” or “Market Order”.
  2. b) Once the User clicks on “Buy”, the Trade Platform automatically picks the order and executes it with other orders, if the orders match or kept it in the User’s Account as pending for future executions.
  3. c) In the event that there is a pending “Sell Order” for the price at which the User´s bid has been placed, the order would be executed immediately and the User´s balance would reflect the updated statistics. This can be achieved by matching the User´s order with a single order of such quantity and price, if available or if a single order with the required price and amount is not pending, the Trade Platform will complete the User´s order by matching it with multiple orders and then complete the User´s order in multiple tranches.
  4. d) If a User´s trade request does not match with any of the existing requests on the trading platform, then such request shall automatically move into the waiting list of pending transactions for it to be matched with an appropriate “Sell Order” as and when such a request is received. In this case, the User´s balance would remain the same until the transaction is completed. While the transaction is pending, the User may cancel the transaction.

7.6 Selling Virtual Currencies

  1. a) In the event that User intends to sell Virtual Currencies, the User is required to place a trade request with the exchange platform for the same. User can choose to place orders at Limit or at Market. In order to place a limit order, User shall specify the amount of Virtual Currencies and the price at which User intends to sell. In order to place a market order, User shall specify how much volume of Virtual Currencies, he/she is willing to sell in total for the order. User shall understand the risk of any losses occurred due to lack of knowledge of the “Limit Order” or “Market Order”.
  2. b) Once the User clicks on “Sell”, the Trade Platform automatically picks the order and executes it with other orders, if the orders match or kept it in the User’s Account for future executions.
  3. c) In the event that there is a pending “Buy Order” for the price at which the User´s bid has been placed, the order would be executed immediately and the User’s balance would reflect the updated statistics. This can be achieved by matching the User’s order with a single order of such quantity and price, if available or if a single order with the required price and amount is not pending, the Trade Platform will complete the User´s order by matching it with multiple orders and then complete the User’s order in multiple tranches.
  4. d) If a User´s trade request does not match with any of the existing requests on the trading platform, then such request shall automatically move into the waiting list of pending transactions for it to be matched with an appropriate “Buy Order” as and when such a request is received. In this case, the User’s balance would remain the same until the transaction is completed. While the transaction is pending, the User may cancel the transaction.

Fees

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.

Anti-money Laundering (Aml) & Anti – Abuse Rules

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).

  1. a) Users shall be bound by the terms of these AML Rules at all times, in addition to the terms contained herein. The terms of the AML Rules shall be read as part and parcel of this Terms and Conditions.
  2. b) Users shall ensure that the terms of the AML Rules are strictly complied with at all times, both during and after the User’s use of the Xpesa services. Xpesa shall not allow the Xpesa services to be used for any illegal or criminal purposes, including (but not limited to) money laundering and the funding of terrorist activities.
  3. c) Xpesa shall report all suspicious activities to the concerned authorities to ensure initiation of any investigation and prosecution. Therefore, Users are strongly cautioned against misuse of the Xpesa services in any manner for illegal activities.
  4. d) Acceptance of the terms herein shall be tantamount to acceptance of the AML Rules and the Terms and Conditions contained therein. Users are required to read, understand and affirm the AML Rules before consenting to these Terms and Conditions. Xpesa may periodically review and revise, modify or update the AML Rules to ensure that it complies with all requirements of the applicable laws, and for any other reason that it may deem suitable at its sole discretion. By accepting the Terms and Conditions contained herein and by continued use of the Xpesa services, Users are deemed to have agreed to such revised terms of the AML Rules and shall be bound by the same. Non-receipt of such intimation shall not exonerate User from complying with the revised AML and KYC Policies. Users who do not wish to abide by the same may decide to opt out of the Xpesa services at such time by intimating Xpesa of such intention in writing, and such Users shall not be permitted to avail of the Xpesa services in any way after such intimation.
  5. e) Xpesa reserves the right to decline or discontinue, as the case may be, any User Account, at its discretion, with present as well as prospective Users at all times. In the event of any suspicious activity being disclosed, or if a User is suspected of abusing the Xpesa services in any way, Xpesa shall have the right to suspend or terminate the relevant User Account of a User, and this Agreement shall stand terminated forthwith.
  6. f) Where applicable, intimation of such suspension or termination shall be duly sent to the User and the accumulated monies or cryptocurrencies in the account of such User shall be duly secured and shall accrue in favour of such User, unless otherwise appropriated by Xpesa towards dues owed to it, or retained pending confirmation from a regulatory or statutory authority or in compliance with an order from a governmental or regulatory authority, court, or quasi-judicial body. Amounts lying in any User Account suspected of being associated with anyactivity that contravenes any applicable law, or of abusing the Xpesa services, shall not be released in favour of any User until an appropriate order is received from a governmental, regulatory, judicial or quasi-judicial body that is competent to pass such an order.

Force Majeure

  • 10.1 Xpesa services are offered only on the digital domain, which is subject to risks including offensive attacks. Xpesa shall not be liable for any loss caused to the User’s account or the monies or crypto currencies accrued therein if the same arises due to any Force Majeure event, including commissions or omissions by third parties, forces of nature, offensive attacks on Xpesa servers or on the personal devices of the users, changes in applicable Law, or any loss caused by conditions or events beyond the reasonable control of Xpesa.
  • 10.2 The above limitation on liability includes any Force Majeure event set out hereunder including acts of god; fire, act of terrorists, act of civil or military authorities, civil disturbance, war, strike or other labour dispute, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond reasonable control of Xpesa; offensive attacks including virus attack, hacking, denial of service attack or theft of the personal devices of the User resulting in loss to the account.
  • 10.3 Xpesa shall not be liable for any Loss caused to User due to a data breach of confidential information of the User, including of the User account details or User password, including when such breach has occurred due to the User sharing such details with third parties or due to the User’s failure to follow reasonable due diligence. Xpesa shall also not be liable or responsible for any disclosure by User of any UserAccount details, including on account of a phishing attack or other third-party disruption.
  • 10.4 “Force Majeure” shall mean and include any cause arising from or attributable to acts, or events, beyond the reasonable control of Xpesa, including natural calamity, strikes, terrorist action or threat, civil commotion, riot, crowd disorder, invasion, war, threat of or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, structural damage, epidemic or other natural disaster, calamity, attacks including through computer viruses, hacking, denial of service attacks, ransomware or other manmade disruptions or any law, order enactment, statutory direction, legislation, regulation, rule or ruling of government or any court of law or of a Government or regulatory authority.

Indemnity

11.1 User shall indemnify and hold harmless Xpesa, its representatives, affiliates and their respective directors, officers, shareholders, representatives and assigns (the “Indemnified Parties”) against and in respect of any and all losses(whether direct, indirect, consequential or otherwise) incurred or suffered by the Indemnified Parties in any manner from or due to any failure or default by the User, to duly perform its obligations under this Agreement and the Terms and Conditions contained herein or due to any material breach by User of the Privacy Policy or the AML Rules.

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.

Intellectual Property Rights (“ipr ”)

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

Indemnity And Waiver

13.1 By registering and creating an account the Users assume sole liability for and agree to indemnify and hold Xpesa, its affiliates, officers, directors, employees and agents, harmless from and against any and all claims, damages, obligations, losses, injuries, costs or debt, and expenses (including but not limited to attorney´s fees) claimed to be caused from usage of the trading platform or the acceptance, possession and handling, loss, use or misuse of any money or Virtual Currencies in their respective User Account(s). Xpesa reserves the right to cancel, suspend the exchange platform, or any part of it, if any fraud, technical failures, computer virus, bug, tampering, or any other factor impairs the integrity or proper functioning of the promotion, as determined by Xpesa in its sole discretion. By participating registering and creating an account, the Users agree to be bound by these Terms and Conditions, Privacy Policy, and other rules and regulations including any decision of Xpesa informed to the User by Xpesa or its agents by telephone, text message (SMS), mail and/or email pertaining to the Trade Platform or any other products that Xpesa may offer now or in future.

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.

Eligibility

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.

No Inducement Of The User

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.

Downtime

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.

Grievance Redressal

In case of any grievance or complaints with the platform or its performance, the User can contact Xpesa at support@xpesa.io . Once a complaint has been received, all endeavors will be made to address the complaint as soon as possible.

General Conditions

18.1 Xpesa may prohibit any User, if Xpesa is of the opinion that the User is showing a disregard for these Terms and Conditions, Privacy Policy and/or any other rules and regulation of Xpesa or acts (1) in an unfair or fraudulent manner; (2) with an intent to annoy, abuse, threaten, or harass any other User or Xpesa; or (3) in any other disruptive manner.

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.

Term & Termination

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:

  1. Use of a User Account for any suspicious activities, or any activities that are not consistent with applicable Law;
  2. Failure of User to comply with the KYC norms contained in this Terms and Conditions or in the AML Rules;

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;

  1. Failure of User to update KYC details, when called upon;
  2. Failure of User to comply with any of the terms of this Agreement, the Privacy Policy or the AML Rules, and failure to rectify such non-compliance subsequent to a notice to this effect from Xpesa; and
  3. A User Account(s) lying dormant or inactive for a period of over six (6) months.

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:

  1. attempts to use in an unauthorised manner, or gain unauthorized access to, the Xpesa services or to another User’s User Account, or providing assistance to any other person’s attempt to do so;
  2. attempts to overcome or circumvent any software security features on the Xpesa Platform;

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;

  1. Failure to pay dues owed to Xpesa including any commissions fees payable to it; or
  2. If the User undertakes fraudulent transactions through the Xpesa Services, or any unaccounted for or suspicious transactions, for which the User fails to provide suitable explanation despite service of notice by Xpesa in this respect.

19.6 Xpesa may also suspend and thereafter terminate any User Accounts for the following reasons:

  1. Technical errors or glitches resulting in suspension of Xpesa services, in part or full;
  2. Any change in applicable Law;

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;

  1. In the event of unexpected operational difficulties; or
  2. Upon receipt of requests from governmental, regulatory, judicial, quasi-judicial or law enforcement authorities.

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:

  1. The User Account and rendering of the Xpesa services shall stand immediately terminated. User shall not be entitled to access or use the User Account or avail of any of the Xpesa services;
  2. Xpesa shall cease to be liable or responsible to User except to the extent of any amounts lying in the User Account. In the event that Xpesa is unable to effect a refund of these amounts to the User due to applicable Law, User shall bear any and all losses arising from termination of the agreement and loss of all amounts and all crypto currencies lying in the User Account.

iii. Parties shall be entitled to the rights and dues already accruing to them.

  1. Xpesa shall be entitled to retain / deduct amounts due to it from the User and transfer or refund the balance lying in the User Account, except when it is unable to do so in compliance with applicable laws. Transfers shall be to any other cryptocurrency account or wallet specified by the User, and refund shall be in Indian Rupees.
  2. User agrees that Xpesashall not be liable to User(s) or to any third party for termination of the User Account or any restriction of access to the Xpesa services.
  3. User shall be entitled to recover the amounts lying in the User Account, as on the date of termination, subject to any deductions to be made by, or payments to be made to, Xpesa.

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.

No Liability

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:

  • the deletion, failure to store, mis-delivery, or untimely delivery of any information or material;
  • any harm resulting from downloading or accessing any information or material through Xpesa;
  • financial loss due to server failure or data loss;
  • financial loss due to forgotten passwords;
  • financial loss due to corrupted wallet files;
  • financial loss due to incorrectly constructed transactions or mistyped Virtual Currencies, or other cryptocurrencies addresses;
  • financial loss due to “phishing” or other websites masquerading as Xpesa.

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.

General Prohibitions

 

21.1 The Users agree not to do any of the following:

  1. Access the website via anonymous networks for view and information purpose;
  2. Use anonymous service, networks to do any business with Xpesa. Any orders placed to our platform via anonymous networks will be cancelled and will result in Cancellation fees;
  3. Open multiple Accounts with Xpesa;
  4. Defame, abuse, harass, stalk, threaten or otherwise violate the legal rights (such as rights of privacy and publicity) of others;
  5. Publish, post, distribute or disseminate any defamatory, infringing, obscene, indecent or unlawful material or information;
  6. Upload files that contain software or other material protected by intellectual property laws (or by rights of privacy of publicity) unless you own or control the rights thereto or have received all necessary consents;
  7. Upload files that contain viruses, corrupted files, or any other similar software or programs that may damage the operation of another´s computer;
  8. Take any action that imposes an unreasonable or disproportionately large load on Xpesa´s infrastructure; or detrimentally interfere with, intercept, or expropriate any system, data, or information;
  9. Use any Account other than his/her own, or access the Account of any other User at any time, or assist others in obtaining unauthorized access;
  10. Conduct or forward surveys, contests, or chain letters; or download any file posted by another user of a forum that you know, or reasonably should know, cannot be legally distributed in such manner.

21.2 The usage of the Xpesa platform by the Users shall not relate to sales of:

  1. Narcotics, research chemicals or any controlled substances;
  2. Adult goods and services which includes pornography and other sexually suggestive materials (including literature, imagery and other media); escort or prostitution services;
  3. Alcohol which includes Alcohol or alcoholic beverages such as beer, liquor, wine, or champagne;
  4. Body parts which includes organs or other body parts;
  5. Bulk marketing tools which includes email lists, software, or other products enabling unsolicited email messages (spam);
  6. Cable descramblers and black boxes which includes devices intended to obtain cable and satellite signals for free;
  7. Child pornography which includes pornographic materials involving minors;
  8. Copyright unlocking devices which includes Mod chips or other devices designed to circumvent copyright protection;
  9. Copyrighted media which includes unauthorized copies of books, music, movies, and other licensed or protected materials;
  10. Copyrighted software which includes unauthorized copies of software, video games and other licensed or protected materials, including OEM or bundled software;
  11. Counterfeit and unauthorized goods which includes replicas or imitations of designer goods; items without a celebrity endorsement that would normally require such an association; fake autographs, counterfeit stamps, and other potentially unauthorized goods;
  12. Drugs and drug paraphernalia which includes illegal drugs and drug accessories, including herbal drugs like salvia and magic mushrooms;
  13. Drug test circumvention aids which includes drug cleansing shakes, urine test additives, and related items;
  14. Endangered species which includes plants, animals or other organisms (including product derivatives) in danger of extinction;
  15. Gaming/gambling which includes lottery tickets, sports bets, memberships/ enrolment in online gambling sites, and related content;
  16. Government IDs or documents which includes fake IDs, passports, diplomas, and noble titles;
  17. Hacking and cracking materials which includes manuals, how-to guides, information, or equipment enabling illegal access to software, servers, websites, or other protected property;
  18. Illegal goods which includes materials, products, or information promoting illegal goods or enabling illegal acts;
  19. Miracle cures which includes unsubstantiated cures, remedies or other items marketed as quick health fixes;
  20. Offensive goods which includes literature, products or other materials that:
  21. a) Defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors
  22. b) Encourage or incite violent acts
  23. c) Promote intolerance or hatred;
  24. Offensive goods, crime which includes crime scene photos or items, such as personal belongings, associated with criminals;
  25. Prescription drugs or herbal drugs or any kind of online pharmacies which includes drugs or other products requiring a prescription by a licensed medical practitioner;
  26. Pyrotechnic devices and hazardous materials which includes fireworks and related goods; toxic, flammable, and radioactive materials and substances;
  27. Regulated goods which includes air bags; batteries containing mercury; Freon or similar substances/refrigerants; chemical/industrial solvents; government uniforms; car titles; license plates; police badges and law enforcement equipment; lock-picking devices; pesticides; postage meters; recalled items; slot machines; surveillance equipment; goods regulated by government or other agency specifications;
  28. Securities which includes stocks, bonds, or related financial products;
  29. Tobacco and cigarettes which includes cigarettes, cigars, chewing tobacco, and related products;
  30. Traffic devices which includes radar detectors/jammers, license plate covers, traffic signal changers, and related products;
  31. Weapons which includes firearms, ammunition, knives, brass knuckles, gun parts, and other armaments;
  32. Wholesale currency which includes discounted currencies or currency exchanges;
  33. Live animals;
  34. Multi-Level Marketing collection fees;
  35. Matrix sites or sites using a matrix scheme approach;
  36. Work-at-home information;
  37. Any product or service which is not in compliance with all applicable laws and regulations whether federal, state, local or international including the laws of India; or any services which compete with Xpesa.

21.3 The User’s usage of the Xpesa platform shall not relate to transactions that:

  1. Show the personal information of third parties in violation of applicable law;
  2. Support pyramid, Ponzi, or other “get rich quick” schemes;
  3. Are associated with purchases of annuities or lottery contracts, lay-away systems, banking, off-shore banking, foreign exchange, transactions to finance, investing, investment related products, or refinancing debts funded by a credit card;
  4. Provide credit repair or debt settlement services; or are prohibited by applicable law.

No Waiver

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.

Notices

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: support@xpesa.io . 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.

Controlling Law And Jurisdiction

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.

24.2 By sign-up and registering on our platform, the User hereby gives his/her informed consent to the terms and conditions, privacy policy and/or any other rules or regulations made by Xpesa herein.

Assignment

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.

Successors

This Agreement shall bind and inure to the benefit of the parties, and their respective successors and permitted assigns.

Severability

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.

Waiver

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.

Relationship

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.

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