ACKNOWLEDGEMENT AND ASSUMPTION OF RISK
As with any asset, the values of digital tokens, including EDBIT may fluctuate significantly, and there is a substantial risk of economic losses when purchasing, selling, holding, arbitrating or operating in any way with digital tokens and their derivatives.
BY PURCHASING EDBIT TOKENS AND/OR USING OUR SERVICES YOU ACKNOWLEDGE AND AGREE THAT: (1) YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTIONS OF DIGITAL TOKENS AND THEIR DERIVATIVES; (2) YOU SHALL ASSUME ALL RISKS RELATED TO THE PURCHASE, HOLDING AND TRADING OF EDBIT AND TRANSACTIONS OF DIGITAL TOKENS AND THEIR DERIVATIVES GENERALLY; AND (3) EDBIT SHALL NOT BE LIABLE FOR ANY SUCH RISKS OR ADVERSE OUTCOMES.
Edbit Platform refers to a platform that may be operated through a website, mobile applications and other applications that may be developed to offer our Services.
Edbit Operators refer to all parties that run the Edbit Platform and Services including but not limited to legal persons, organizations (incorporated or otherwise) and teams that provide our Services and are responsible for such Services. For convenience, unless otherwise stated, references to “Edbit”, “our”, “us” and “we” in these Terms specifically mean Edbit Operators. UNDER THESE TERMS, Edbit Operators MAY CHANGE AS EDBIT’S BUSINESS EVOLVES WITHOUT PRIOR NOTICE TO YOU, IN WHICH CASE, THE CHANGED OPERATORS SHALL PERFORM THEIR OBLIGATIONS UNDER THESE TERMS WITH YOU AND PROVIDE SERVICES TO YOU, AND SUCH CHANGE DOES NOT AFFECT YOUR RIGHTS AND INTERESTS UNDER THESE TERMS. IF YOU CONTINUE TO USE OUR SERVICES, IT IS DEEMED THAT YOU HAVE AGREED TO JOINTLY EXECUTE THESE TERMS WITH THE THEN-CURRENT Edbit Operators.
Services refer to services provided to you by Edbit that are based on Internet and/or blockchain technologies and offered via Edbit websites, mobile applications, and other forms. Services include but are not limited to smart contract generation for educational content and the trading of Edbit tokens.
Platform Rules refer to all rules, interpretations, announcements, and other contents that will be subsequently released by Edbit, as well as all regulations, implementation rules, product process descriptions, and announcements published.
Users refer to you and all individuals, institutions or organizations that access and use our Services meeting the criteria and conditions stipulated by Edbit.
Digital Tokens refer to encrypted or digital tokens or cryptocurrencies with a certain value that are based on blockchain and cryptography technologies and are issued and managed in a decentralized form. EDBIT is a Digital Token.
Accounts refers to the crowdsale foundational virtual accounts and any main accounts and subaccounts, which are opened by Edbit for Users for their usage of the Services, transactions and basic information. Accounts serve as the basis for Users to enjoy and exercise their rights.
Crowdsale is the method Edbit chose to fund the project. We are preselling the Digital Token EDBIT, not only as a way to fund the development of the platform and Services, but also to test the real interest in the Services.
EDBIT is the native Digital Token of Edbit Platform. Is an ERC-20 token, designed to be used in the Ethereum blockchain. It is a utility token, with no intrinsic value. EDBIT will allow Users to use and pay for the Services, and eventually receive payments, trade, and complete other financial transactions. Buying EDBIT it is not an investment per se and does not imply any reasonable expectation of profit. Holding EDBIT does not make Users partners of other Users and/or partners or shareholders of Edbit, does not give Users any decision rights over Edbit and does not give Users any share on profits derived from managerial efforts of Edbit.
About These Terms
Contractual Relationship. By your use of the Edbit website(s), application(s) and Services, you acknowledge and accept that these Terms constitute a legal agreement and create a binding contract between you and Edbit Operators.
Supplemental Terms. Due to the rapid development of Digital Tokens and the early development stage of the EDBIT token, these Terms between you and Edbit Operators do not cover all rights and obligations of each party, and do not guarantee full alignment with needs arising from future development. Therefore, YOU ACKNOWLEDGE THAT YOU MAY HAVE TO ENTER INTO SEPARATE AGREEMENTS WITH EDBIT OPERATORS DEEMED “SUPPLEMENTAL TERMS”. YOU ACCEPT AND ACKNOWLEDGE THAT ANY SUPPLEMENTAL TERMS ARE AN INTEGRAL PART OF THESE TERMS AND SHALL HAVE THE SAME LEGAL EFFECT AS THOUGH FULLY SET FORTH AND INCORPORATED HEREIN. YOUR USE OF SERVICES SHALL BE CONSIDERED YOUR LEGAL ACCEPTANCE OF ANY THEN-EXISTING SUPPLEMENTAL TERMS THAT MAY APPLY.
Changes to These Terms. We reserve the right to change or modify these Terms in our discretion at any time without prior notice. Such changes will take effect upon updating these Terms on our website. ANY AND ALL MODIFICATIONS OR CHANGES TO THESE TERMS WILL BECOME EFFECTIVE UPON PUBLICATION ON THE WEBSITE OR RELEASE TO USERS. YOUR CONTINUED USE OF SERVICES IS DEEMED TO BE YOUR LEGAL ACCEPTANCE OF THE THEN-EXSTING TERMS. IF YOU DO NOT AGREE TO ALL OF THE TERMS AS EXISTING WHEN YOU ACCESS THE WEBSITE OR SERVICES, YOU MUST STOP USING THE WEBSITE AND SERVICES IMMEDIATELY. YOU ARE ADVISED TO REVIEW THESE TERMS EACH TIME YOU ACCESS THE SITE OR SERVICES TO ENSURE YOUR UNDERSTANDING OF THE TERMS AND CONDITIONS THAT APPLY.
Prohibition of Use. BY ACCESSING AND USING SERVICES, YOU REPRESENT AND WARRANT THAT YOU HAVE NOT BEEN INCLUDED IN ANY TRADE EMBARGO OR ECONOMIC SANCTIONS LIST (SUCH AS THE UNITED NATIONS SECURITY COUNCIL SANCTIONS LIST), THE LIST OF SPECIALLY DESIGNATED NATIONALS MAINTAINED BY OFAC (THE OFFICE OF FOREIGN ASSETS CONTROL OF THE U.S. DEPARTMENT OF THE TREASURY), OR THE DENIED PERSONS OR ENTITY LIST OF THE U.S. DEPARTMENT OF COMMERCE. WE RESERVES THE RIGHT TO CHOOSE MARKETS AND JURISDICTIONS TO CONDUCT BUSINESS, AND MAY RESTRICT OR REFUSE, IN OUR DISCRETION, THE PROVISION OF SERVICES IN CERTAIN COUNTRIES OR REGIONS.
Edbit is still just a concept. If Crowdsale is successful, Edbit will serve as a platform and currency for (1) funding and purchasing educational industry startups, (2) creation of smart contracts for the verification of educational information, (3) shared electronic file storage capabilities and (4) wallet functions allowing for performance of financial transactions using the EDBIT Digital Token. Users must register and open an account with Us via the Edbit Website (“Account”), and deposit one of several available Digital Tokens in this Crowdsale stage. If the Crowdsale it is successful, Users will receive EDBIT into their Account(s). Once EDBIT becomes available in the Accounts, Users will be able to use the Services and complete financial transactions using EDBIT. Users may, subject to the restrictions set forth in these Terms, apply for the withdrawal of Digital Tokens.
Disclaimers: Website and Whitepaper
PLEASE READ THE ENTIRETY OF THIS "DISCLAIMER" SECTION CAREFULLY. NOTHING HEREIN CONSTITUTES LEGAL, FINANCIAL, BUSINESS OR TAX ADVICE AND YOU SHOULD CONSULT YOUR OWN LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S) BEFORE ENGAGING IN ANY ACTIVITY IN CONNECTION HEREWITH. NEITHER EDBIT, INC. NOR THE EDBIT OPERATORS WHO HAVE WORKED ON THE PROJECT TO DEVELOP THE SERVICES IN ANY WAY WHATSOEVER, ANY DISTRIBUTOR/VENDOR OF EDBIT DIGITAL TOKENS, NOR ANY SERVICE PROVIDER SHALL BE LIABLE FOR ANY KIND OF DIRECT OR INDIRECT DAMAGE OR LOSS WHATSOEVER WHICH YOU MAY SUFFER IN CONNECTION WITH ACCESSING THE WHITEPAPER, THE WEBSITE AT HTTPS://EDBIT.IO/ (THE WEBSITE) OR ANY OTHER WEBSITES, APPLICATIONS OR MATERIALS PUBLISHED BY EDBIT.
Edbit Operators cannot and do not guarantee the accuracy, applicability, reliability, integrity, performance or appropriateness of the information published on our website or whitepaper, and Edbit Operators shall not be liable for any loss or damage that may be caused directly or indirectly by your use of or reliance upon the contents thereof. The purpose of providing such information is to help Users make independent decisions based on their own due diligence. We do not provide investment or consulting advice of any kind, and we are not responsible for the use or interpretation of information on the Edbit website(s), application(s) or any other communication medium. All Users must understand the risks involved in Digital Token trading, and are recommended to exercise prudence and traderesponsibly within their own capabilities.
Registration. All Users must apply for an Account at our website before using the Services. When you register an Account, you must provide your legal name, email address, password, valid ID, and accept these Terms and other Platform Rules. We may refuse, to open an Account for you. You agree to provide complete and accurate information when opening an Account and agree to timely update any information you provide to maintain the integrity and accuracy of the information. You must also link your Account to another Digital Token wallet.
Eligibility. By registering to use an Account, you represent and warrant that (i) as an individual, you are at least 18 or are of legal age to form a binding contract under applicable laws; (ii) as an individual, legal person, or other organization, you have full legal capacity and sufficient authorizations to enter into these Terms; (iii) you have not been previously suspended or removed from using the Services; (iv) you do not currently have an Account; (v) your use of the Services will not violate any laws and regulations applicable to you, including but not limited to regulations on anti-money laundering, anti-corruption, and counter-terrorist financing.
IF THERE ARE ANY GROUNDS FOR BELIEVING THAT ANY OF THE INFORMATION YOU PROVIDED IS INCORRECT, FALSE, OUTDATED OR INCOMPLETE, WE RESERVE THE RIGHT TO SEND YOU A NOTICE TO DEMAND CORRECTION, DIRECTLY DELETE THE RELEVANT INFORMATION, AND, AS THE CASE MAY BE, TERMINATE ALL OR PART OF SERVICES WE PROVIDE FOR YOU. IF WE ARE UNABLE TO REACH YOU AT THE CONTACT INFORMATION YOU PROVIDED, YOU SHALL BE FULLY LIABLE FOR ANY LOSS OR EXPENSE CAUSED TO US AS A RESULT OF YOUR USE OF THE SERVICES. YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU ARE OBLIGATED TO UPDATE YOUR ACCOUNT INFORMATION ANY TIME THERE IS A CHANGE FROM THE INFORMATION PROVIDED WHEN OPENING YOUR ACCOUNT. THIS OBLIGATION IS CONTINUING AND FAILURE TO ABIDE BY THESE TERMS CONSTITUTES A BREACH OF THESE TERMS.
Account Usage Requirements. The Account can only be used by the account registrant. We reserve the right to suspend, freeze or cancel the use of the Account by persons other than account registrant. Edbit Operators assume no liability for any loss or damage arising from the use of the Account by you or any third party with or without your authorization.
Account Security. You shall agree to treat your access credentials (such as username and password) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking the necessary security measures to protect your Account and information. We assume no liability for any loss or consequences caused by authorized or unauthorized use of your account credentials, including but not limited to information disclosure, information release, consent or submission of various rules and agreements by clicking on the website, online agreement renewal, etc.
Deemed Representations and Warranties
By accessing the Whitepaper, the Website (or any part thereof) and/or utilizing the Services, you shall be deemed to represent and warrant to Edbit, the Edbit Operators, and their respective affiliates and subsidiaries that: In any decision to purchase any $EDBIT Digital Tokens, you have shall not rely on any statement set out in the Whitepaper or the Website. You will and shall at your own expense ensure compliance with all laws, regulatory requirements and restrictions applicable to you (as the case may be); You acknowledge, understand and agree that $EDBIT may have no value, there is no guarantee or representation of value or liquidity for $EDBIT, and $EDBIT is not an investment product including for any speculative investment; None of Edbit, the Edbit Operators, nor their respective affiliates or subsidiaries shall be responsible for or liable for the value of $EDBIT, the transferability and/or liquidity of $EDBIT and/or the availability of any market for $EDBIT through third parties or otherwise; and You acknowledge, understand and agree that you are not eligible to purchase any $EDBIT if you are a citizen, national, resident (tax or otherwise), domiciliary and/or green card holder of a geographic area or country (a) where it is likely that the sale of $EDBITwould be construed as the sale of a security (howsoever named), financial service or investment product and/or (b) where participation in token sales is prohibited by applicable law, decree, regulation, treaty, or administrative act; and to this effect you agree to provide all such identity verification document when requested in order for the relevant checks to be carried out.
The Crowdsale of EDBIT tokens will start at 12/17/2021 (the “Start Date”) and will end 03/31/2022 or before when the objective cap target gets completed (the “End Date”). Edbit Operators will only launch the Services if the hard-cap of USD $1,200,000 in Digital Tokens are staked before the End Date (the “Cap Target”). If the Cap Target is reached within the above-mentioned term, then the EDBIT tokens will be delivered in scheduled amounts (not all at once) to the Users registered wallet(s) starting end of July 2022, and for a period of one year, until July 2023. EDBIT tokens will only be delivered to the wallet(s) registered during the registration process. If Users lose access to their registered wallet, or if their regitered wallet has been breached, Users will lose all access to EDBIT tokens delivered thereto, and EDBIT is not responsible for any compensation. Users will not be able to have EDBIT tokens delivered to another wallet. Users will stake their Digital Tokens and the platform will inform the value of those Digital Tokens in US Dollars at the staking time. If the Cap Target is not reached, Edbit will reimburse each User with 80% of the Digital Tokens staked, within 30 days of the End Date.
Upon completion of the registration and identity verification for your Account and if the Crowdsale Cap Target is reached, you may use the Services, including but not limited to Edbit Credentials, Edbit Wallet, and Edbit NFTs Marketplace in accordance with the provisions of these Terms and any additional Platform Rules. We reserve the right to: (a) provide, modify or terminate, in its discretion, any Services based on our development plan; and (b) allow or prohibit some Users’ use of any Services in accordance with relevant Platform Rules.
Service Usage Guidelines
License. Provided that you are in compliance with the express terms and conditions stated in these Terms, Edbit Operators grants you a revocable, limited, non-exclusive, non-transferable, and non-sublicensable subscription license to access and use the Services. You are prohibited from using the Services for resale or commercial purposes; such actions are expressly prohibited and constitute a material violation of these Terms. You are prohibited from using the Services in any way not expressly authorized by these Terms. All text, graphics, user interfaces, visual interface, photos, sounds, process flow diagrams, computer code (including html code), programs, software, products, information and documents, as well as the design, structure, selection, coordination, expression, look and feel, and layout of any content included in the Services or provided through the Services, are exclusively owned, controlled and/or licensed by Edbit Operators. Edbit reserves all rights not expressly granted in these Terms.
Restrictions. When you use the Services, you acknowledge and agree that: (a) all activities you carry out shall comply with any applicable laws and regulations, these Terms, and Platform Rules; (b) your use of the Services shall not violate public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prohibit other Users from using the Services; (c) you shall not use the Services for market manipulation (such as pump and dump schemes, wash trading, self-trading, front running, quote stuffing, and spoofing or layering, regardless of whether such actions are explicitly or implicitly prohibited by law); (d) you shall not modify, replicate, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any copyright statement or label, or license, sub-license, sell, mirror, design, rent, lease, private label, grant security interests in the properties or any part of the properties, or create their derivative works or otherwise take advantage of any part of the properties without prior written consent from Edbit Operators; (e) you shall not use any deep linking, web crawlers, bots, spiders or other automatic devices, programs, scripts, algorithms or methods, or any similar or equivalent manual processes to access, obtain, copy or monitor any part of the properties, or replicate or bypass the navigational structure or presentation of the Services in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided through the Services; (f) you shall not attempt to access any part or function of the properties without authorization, or connect to the Services by hacking, password mining or any other unlawful or prohibited means; and (g) you shall not probe, scan or test the vulnerabilities of the Services or any network connected to the properties, or violate any security or authentication measures on the Services or any network connected to the Services, or act and/or use the Services in an illegal way.
Sanctions. By accessing the Website or Services, you agree that we have the right to investigate any violation of these Terms, unilaterally determine whether you have violated these Terms, and take actions under relevant regulations without your consent or prior notice. Examples of such actions include, but are not limited to, blocking and closing order requests; freezing your account; reporting any activity to governmental authorities; publishing the alleged violations and actions that have been taken; and/or deleting any information you published that is found to be in violation of these Terms, in our sole and absolute discretion.
Disclaimers and Limitation of Liability: Products and Services
Disclaimer of Warranties. TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, THE SERVICES AND ANY PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF EDBIT OPERATORS ARE OFFERED ON AN “AS IS” AND “AS AVAILABLE” BASIS, AND WE EXPRESSLY DISCLAIM, AND YOU EXPRESSLY WAIVE CLAIMS ARISING OUT OF, ANY AND ALL OTHER WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT OR WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE IN TRADE. WITHOUT LIMITING THE FOREGOING, EDBIT OPERATORS DO NOT REPRESENT OR WARRANT THAT THE SITE, PRODUCTS, AND/OR SERVICES ARE ACCURATE, COMPLETE, RELIABLE, CURRENT, ERROR-FREE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. EDBIT OPERATORS DO NOT GUARANTEE THAT ANY EDBIT DIGITAL TOKEN TRANSACTION WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN. WITHOUT LIMITING THE FOREGOING, YOU HEREBY UNDERSTAND AND AGREE THAT EDBIT OPERATORS WILL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO: (A) ANY INACCURACY, DEFECT OR OMISSION OF DIGITAL TOKEN PRICE DATA, (B) ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA AND/OR EXECUTION OF ANY TRANSACTION ORDER, (C) INTERRUPTION IN ANY SUCH DATA, (D) REGULAR OR UNSCHEDULED MAINTENANCE CARRIED OUT BY EDBIT OPERATORS AND SERVICE INTERRUPTION AND CHANGE RESULTING FROM SUCH MAINTENANCE, (E) ANY DAMAGES INCURRED BY OTHER USERS’ ACTIONS, OMISSIONS OR VIOLATION OF THESE TERMS, (F) ANY DAMAGE CAUSED BY ILLEGAL ACTIONS OF OTHER THIRD PARTIES OR ACTIONS WITHOUT AUTHORIZED BY EDBIT OPERATORS. THE DISCLAIMER OF IMPLIED WARRANTIES CONTAINED HEREIN MAY NOT APPLY IF AND TO THE EXTENT IT IS PROHIBITED BY APPLICABLE LAW OF THE JURISDICTION IN WHICH YOU RESIDE.
Disclaimer of Damages and Limitation of Liability TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL EDBIT OPERATORS, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS BE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR SIMILAR DAMAGES OR LIABILITIES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF DATA, INFORMATION, REVENUE, PROFITS OR OTHER BUSINESSES OR FINANCIAL BENEFITS) ARISING OUT OF THE SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF EDBIT OPERATORS AND ITS AFFILIATES, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY EVEN IF EDBIT OPERATORS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES EXCEPT TO THE EXTENT OF A FINAL JUDICIAL DETERMINATION THAT SUCH DAMAGES WERE A RESULT OF EDBIT OPERATORS FRAUD OR INTENTIONAL VIOLATION OF LAW. IN NO EVENT WILL THE LIABILITY OF EDBIT OPERATORS, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS ARISING OUT OF SERVICES OFFERED BY OR ON BEHALF OF EDBIT OPERATORS AND ITS AFFILIATES, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY, EXCEED THE AMOUNT OF THE FEES PAID BY YOU TO EDBIT OPERATORS UNDER THESE TERMS IN THE SIX-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.
You agree to indemnify and hold harmless Edbit Operators, their affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to (i) your use of, or conduct in connection with, the Services and/or Products offered by Edbit Operators, (ii) your breach or our enforcement of these Terms, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of the Products and/or Services. If you are obligated to indemnify Edbit Operators, their affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to these Terms, Edbit Operators will have the right, in its sole discretion, to control any action or proceeding and to determine whether Edbit Operators wishes to settle, and if so, on what terms.
Termination of Agreement and/or Accounts
Suspension of Accounts. You agree that Edbit Operators shall have the right to immediately suspend your Account, freeze or lock the Digital Tokens or funds in all such Accounts, and suspend your access to the Services for any reason including if we suspect any such Accounts to be in violation of these Terms or any applicable laws and regulations. Edbit Operators shall not be liable to you for any permanent or temporary modification of your Account, or suspension or termination of your access to all or any portion of the Services. Edbit Operators shall reserve the right to keep and use the transaction data or other information related to such Accounts. The above Account controls may also be applied in the following cases: (a) the Account is subject to a governmental proceeding, criminal investigation or other pending litigation; (b) we detect unusual activities and/or unauthorized access in the Account; (c) we are required to do so by a court order or command by a regulatory/government authority.
Cancellation of Accounts. In case of any of the following events, Edbit Operators shall have the right to directly terminate these Terms by cancelling your Account, and shall enjoy the right but not the obligation to permanently freeze (cancel) the authorizations of your Account on Edbit and withdraw the corresponding Account thereof: (a) after Services termination; (b) the information that you have provided is untruthful, inaccurate, outdated or incomplete; (c) when these Terms are amended, you state your unwillingness to accept the amended Terms by applying for cancellation of your Account or by other means; (d) any other circumstances where Edbit Operators deems it should terminate Services. Should your Account be terminated, the account and transactional information that meet data retention standards will be securely stored for 5 years.
If we are informed that any Digital Token or funds held in your Account are stolen or otherwise are not lawfully possessed by you, we may, but have no obligation to, place an administrative hold on the affected funds and your Account. We may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to Us has been provided. We will not involve in any such dispute or the resolution of the dispute. You agree that we will have no liability or responsibility for any such hold, or for your inability to withdraw Digital Token or funds or execute trades during the period of any such hold.
Remaining Funds After Account Termination. Once your Account is closed/withdrawn, all remaining account balance (which includes charges and liabilities owed to Edbit Operators) will be payable immediately to Edbit Operators. Upon payment of all outstanding charges to Edbit Operators (if any), Users will have 5 business days to withdraw all Digital Tokens or funds from the account.
No Financial Advice
Edbit is not a broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using the Services. No communication or information provided to you by Edbit is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. Unless otherwise specified in these Terms, all Edbit transactions are executed based on the parameters of your order instructions and in accordance with trade execution procedures, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance, and you shall be solely responsible for any loss or liability therefrom. You should consult legal or tax professionals regarding your specific situation. We do not recommend that any Digital Token should be bought, earned, sold, or held by you. Before making the decision to buy, sell, or hold any Digital Tokens you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. Edbit Operators will not be held responsible for the decisions you make based on the information provided by Edbit Operators. Edbit is not a registered investment agent or broker in any jurisdiction, does not guarantee profits or that you will not lose all or part of the capital you invest. The Digital Tokens with which Edbit operates are extremely volatile, which is why all Edbit transactions and trades carried out involve a high risk - higher than that of traditional assets. If your investment profile is conservative, you should not trade EDBIT. Your deposits are not guaranteed by any government or private entity. You should carry out your own analysis and research before making an investment, taking into account your own objectives and your personal situation. Past performance does not guarantee future performance and/or gains.
Forum, Arbitration, Class Action Waiver
Notice of Claim and Dispute Resolution Period. In the event you have a dispute with Us, We will attempt to resolve your dispute internally as soon as possible. By utilizing the Edbit website and Services and thereby accepting these Terms, you agree to negotiate in good faith to resolve any dispute (which discussions shall remain confidential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding) prior to instituting any formal legal action. You are required to notify Edbit of any such dispute in writing at firstname.lastname@example.org after which you will be contacted and assigned an identifier to reference for all discussions related to said dispute. In the event the dispute cannot be resolved satisfactorily within sixty (60) days of your notifying Edbit in writing of the dispute, and you wish to assert a legal claim against Edbit, then you agree to set forth the basis of such claim in writing in a “Notice of Claim” to Edbit. The Notice of Claim must (1) describe the nature and basis of the claim or dispute, (2) set forth the specific relief sought, (3) provide the original identifier assigned to you when you first contacted Edbit regarding the dispute, and (4) include your Account email. The Notice of Claim should be submitted to an email address or hyperlink provided in your correspondence with Edbit. After you have provided the Notice of Claim to Edbit, the dispute referenced in the Notice of Claim may be submitted by either Edbit or you to arbitration in accordance with the paragraph of this Section below entitled “Agreement to Arbitrate and Governing Law”. For the avoidance of doubt, the submission of a dispute to Edbit for resolution internally and the delivery of a Notice of Claim to Edbit are mandatory prerequisites to commencement of an arbitration proceeding (or any other legal proceeding). During the arbitration, the amount of any settlement offer made by you or Edbit shall not be disclosed to the arbitrator.
Agreement to Arbitrate and Governing Law. You and Edbit Operators agree that, subject to the “Notice of Claim and Dispute Resolution Period” paragraph above, all disputes arising out of or in connection with these Terms and/or the Services or the Site (excluding legal action taken by us or you to collect or recover damages for, or obtain any injunction relating to, intellectual property ownership or infringement), shall be settled solely by confidential binding arbitration in accordance with commercial arbitration rules. Any such controversy or claim shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. The arbitration shall be conducted in Fort Lauderdale, Florida. Each party shall bear one-half of the arbitration fees and costs incurred, and each party shall bear its own attorneys' fees. The arbitration provisions set forth in this Section will survive termination of these Terms. Regardless of the manner in which the arbitration is conducted, the arbitrator shall issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the decision and award, if any, are based. ANY ARBITRATION INITIATED HEREUNDER MUST BE COMMENCED BY FILING A REQUEST FOR ARBITRATION WITHIN ONE (1) YEAR, AFTER THE DATE THE PARTY ASSERTING THE CLAIM FIRST KNOWS OR REASONABLY SHOULD KNOW OF THE ACT, OMISSION OR DEFAULT GIVING RISE TO THE CLAIM; AND THERE SHALL BE NO RIGHT TO ANY REMEDY FOR ANY CLAIM NOT ASSERTED WITHIN THAT TIME PERIOD. THIS ONE YEAR LIMITATION PERIOD IS INCLUSIVE OF THE INTERNAL DISPUTE RESOLUTION PROCEDURE SET FORTH IN THE “NOTICE OF CLAIM AND DISPUTE RESOLUTION PERIOD” PARAGRAPH IN THIS SECTION. THERE SHALL BE NO RIGHT TO ANY REMEDY FOR ANY CLAIM NOT ASSERTED WITHIN THAT TIME PERIOD. If applicable law prohibits a one-year limitation period for asserting claims, any claim must be asserted within the shortest time period permitted by applicable law.
Class Action Waiver. You and Edbit Operators agree that any claims relating to these Terms or to your relationship with Us as a User (whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and whether the claims arise during or after the termination of these Terms) shall be brought against the other party in an arbitration on an individual basis only and not as a plaintiff or class member in a purported class or representative action. Parties further agrees to waive any right for such claims to be brought, heard, or arbitrated as a class, collective, representative, or private attorney general action, to the extent permissible by applicable law. Combining or consolidating individual arbitrations into a single arbitration is not permitted without the consent of all parties, including Us.
Independent Parties. Edbit is an independent contractor but not an agent of you in the performance of these Terms. These Terms shall not be interpreted as facts or evidence of an association, joint venture, partnership, or franchise between the parties.
Severability. If any portion of these Terms are adjudged to be invalid or unenforceable for any reason or to any extent, the remainder of these Terms will remain valid and enforceable and the invalid or unenforceable portion will be given effect to the greatest extent permitted by law.
Entire Agreement. These Terms constitute the entire agreement between the parties regarding use of the website, Services and/or Products and will supersede all prior written or oral agreements between the parties. No usage of trade or other regular practice or method of dealing between the parties will be used to modify, interpret, supplement, or alter the terms herein.
Interpretation and Revision. Edbit reserves the right to alter, revise, modify, and/or change these Terms at any time. All changes will take effect immediately upon being published on our website. It is your responsibility to regularly check relevant pages on our websites/applications to confirm the latest version of these Terms. If you do not agree to any such modifications, your only remedy is to terminate your usage of the Services and cancel your account.
Force Majeure. We will not be liable for any delay or failure to perform as required by these Terms because of any cause or condition beyond Edbit’s reasonable control.
Legality and Legitimacy of Funds. ALL USERS ACKNOWLEDGE, REPRESENT AND WARRANT THAT THEIR FUNDS COME FROM LEGITIMATE SOURCES AND DO NOT ORIGINATE FROM ILLEGAL ACTIVITIES. USERS AGREE TO COLLECT AND PROVIDE TO US THE NECESSARY INFORMATION AND MATERIALS AS PER RELEVANT LAWS ORGOVERNMENT ORDERS TO VERIFY THE LEGALITY OF THE SOURCES AND USE OF THEIR FUNDS.
Assignment. You may not assign or transfer any right to use Services or any of your rights or obligations under these Terms without prior written consent from Edbit, including any right or obligation related to the enforcement of laws or the change of control. We may assign or transfer any or all of its rights or obligations under these Terms, in whole or in part, without notice or obtaining your consent or approval.
Waiver. Except as explicitly set forth elsewhere herein, the failure of one party to require performance of any provision will not affect that party’s right to require performance at any time thereafter. At the same time, the waiver of one party to seek recovery for the other party’s violation of these Terms or any provision of applicable terms shall not constitute a waiver by that party of any subsequent breach or violation by the other party or of the provision itself.