These BALANCE NETWORK Terms of Use is entered into between you (hereinafter referred to as “you” or “your”) and Balance Network operators (as defined below). By accessing, downloading, using or clicking on “I agree” to accept any Balance Network Services (as defined below) provided by Balance Network (as defined below), you agree that you have read, understood and accepted all of the terms and conditions stipulated in these Terms of Use (hereinafter referred to as “these Terms”) as well as our Privacy Policy at www.balancenetwork.io. In addition, when using some features of the Services, you may be subject to specific additional terms and conditions applicable to those features. Please read the terms carefully as they govern your use of Balance Network Services. These terms contain important provisions including an arbitration provision that requires all claims to be resolved by way of legally binding arbitration. The terms of the arbitration provision are set forth in Article 10, “Resolving Disputes: Forum, Arbitration, Class Action Waiver”, hereunder. As with any asset, the values of Digital Currencies (as defined below) may fluctuate significantly and there is a substantial risk of economic losses when purchasing, selling, holding or investing in Digital Currencies and their derivatives. By making use of Balance Network services, you acknowledge and agree that:
1.1 Balance Network
Refers to an ecosystem
comprising Balance Network websites (whose
domain names include but are not limited
to Balance Network.io , mobile
applications, clients, applets and other applications
that are developed to offer Balance Network
Services, and includes independently-operated
platforms, websites and clients within the
ecosystem (e.g. Balance Network’s Open
Platform, Balance Network Launchpad, Balance
Network swap, Balance Network Nfts, Balance
Network DEX, Balance Network game, Balance
Network market, Balance Network
Chain(Explorer), Balance Network Wallet, and
gateways). In case of any inconsistency between
relevant terms of use of the above platforms and
the contents of these Terms, the respective
applicable terms of such platforms shall prevail.
1.2 Balance Network Operators:
Refer to all
parties that run Balance Network, including but
not limited to legal persons (including Balance
Network / BVI ), unincorporated organizations
and teams that provide Balance Network Services
and are responsible for such services. For
convenience, unless otherwise stated, references to
“Balance Network” and “we” in these Terms
specifically mean Balance Network
Operators. Under these terms, Balance Network
operators’ may change as Balance Network’s
business adjusts, 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. Additionally, the
scope of Balance Network operators may be
expanded due to the provision of new Balance
Network services, in which case, if you continue
to use Balance Network Services, it is deemed that
you have agreed to jointly execute these terms
with the newly added Balance Network operators.
In case of a dispute, you shall determine the
entities by which these terms are performed with
you and the counterparties of the dispute,
depending on the specific services you use and the
particular actions that affect your rights or
interests.
1.3 Balance Network Services
Refer to various
services provided to you by Balance Network that
are based on Internet and/or blockchain
technologies and offered via Balance Network
websites, mobile applications, clients and other
forms (including new ones enabled by future
technological development). Balance Network
Services include but are not limited to such
Balance Network ecosystem components as
Digital Asset Trading Platforms, the financing
sector, Balance Network swap, Balance Network
NFTs, Balance Network wallet, Balance Network
Info, Balance Network Launchpad, Balance
Network market, Balance Network Chain
(Explorer), Balance Network game, Balance
Network Gateways, existing services offered by
Balance Wallet and novel services to be provided
by Balance Network.
1.4 Balance Network Platform Rules
Refer to all
rules, interpretations, announcements, statements,
letters of consent and other contents that have
been and will be subsequently released by Balance
Network, as well as all regulations,
implementation rules, product process
descriptions, and announcements published in the
Help Center or within products or service
processes.
1.5 Users refer to all individuals
Institutions or
organizations that access, download or use
Balance Network or Balance Network Services
and who meet the criteria and conditions
stipulated by Balance Network. If there exist other
agreements for such entities as developers,
distributors, market makers, and Digital
Currencies exchanges, such agreements shall be
followed.
1.6 Digital Currencies
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.
1.7 Digital Assets
Refer to Digital Currencies,
their derivatives or other types of digitalized assets
with a certain value.
1.8 Balance Network Accounts
Refer to the
foundational virtual accounts, including main
accounts and subaccounts, which are opened by
Balance Network for Users to record on Balance
Network their usage of Balance Network Services,
transactions, asset changes and basic information.
Balance Network Accounts serve as the basis for
Users to enjoy and exercise their rights on Balance
Network.
1.9 Crypto-to-crypto Trading
Refers to spot
transactions in which one digital currency is
exchanged for another digital currency.
1.10 Fiat Trading
Refers to spot transactions in
which Digital Currencies are exchanged for fiat
currencies.
1.11 Collateral Accounts
Refer to special
accounts opened by Users on Balance Network to
deposit and withdraw collateral (such as margins)
in accordance with these Terms (including the
Balance Network Contract Services Agreement
and Balance Network Platform Rules), as required
for contract transactions, leveraged trading and/or
currency borrowing services.
1.12 Loan/Lending
Refers to Balance Network’s
lending of Digital Currencies to Users at an
interest collected in certain ways (in the form of
Digital Currencies), including but not limited to
the leveraged trading and currency lending
services currently offered, and other forms of
loan/lending services to be launched by Balance
Network.
2.1 About These Terms
2.1.1 Contractual Relationship
These Terms constitute a legal agreement and
create a binding contract between you and Balance
Network Operators.
2.1.2 Supplementary Terms
Due to the rapid development of Digital
Currencies and Balance Network, these Terms
between you and Balance Network Operators do
not enumerate or cover all rights and obligations
of each party, and do not guarantee full alignment
with needs arising from future development.
Therefore, the privacy policy, Balance Network
Platform rules, and all other agreements entered
into separately between you and Balance Network
are deemed supplementary terms that are an
integral part of these terms and shall have the
same legal effect. Your use of Balance Network
services is deemed your acceptance of the above
supplementary terms.
2.1.3 Changes to These Terms
Balance Network reserves the right to change or
modify these Terms in its discretion at any time.
Balance Network will notify such changes by
updating the terms on its website
(www.balancenetwork.io) and modifying the [Last
revised] date displayed on this page. Any and all
modifications or changes to these terms will
become effective upon publication on the website
or release to users. therefore, your continued use
of Balance Network services is deemed your
acceptance of the modified agreement and rules. If
you do not agree to any changes to these terms,
you must stop using Balance Network services
immediately. You are recommended to frequently
review these terms to ensure your understanding
of the terms and conditions that apply to your
access to and use of Balance Network services.
2.1.4 Prohibition of Use
By accessing and using Balance Network
Services, you represent and warrant that you have
not been included in any trade embargoes 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. Balance Network reserves the right to
choose markets and jurisdictions to conduct
business, and may restrict or refuse, in its
discretion, the provision of Balance Network
Services in certain countries or regions.
2.2 About Balance Network
As an important part of the Balance Network
Ecosystem, Balance Network mainly serves as a
global online platform for Digital Assets trading,
and provides Users with a trading platform,
financing services, technical services and other
Digital Assets-related services. As further detailed
in Article 3 below, Users must register and open
an account with Balance Network, and deposit
Digital Assets into their account prior to trading.
Users may, subject to the restrictions set forth in
these Terms, apply for the withdrawal of Digital
Assets.
Although Balance Network has been committed to
maintaining the accuracy of the information
provided through Balance Network Services,
Balance Network cannot and does not guarantee
its accuracy, applicability, reliability, integrity,
performance or appropriateness, nor shall Balance
Network be liable for any loss or damage that may
be caused directly or indirectly by your use of
these contents. The information about Balance
Network Services may change without notice, and
the main purpose of providing such information is
to help Users make independent decisions.
Balance Network does not provide investment or
consulting advice of any kind, and is not
responsible for the use or interpretation of
information on Balance Network or any other
communication medium. All Users of Balance
Network Services must understand the risks
involved in Digital Assets trading, and are
recommended to exercise prudence and trade
responsibly within their own capabilities.
2.3 Balance Network Account Registration and
Requirements
2.3.1 Registration
All Users must apply for a Balance Network
Account at
https://accounts.balancenetwork.io/register
before using Balance Network Services. When
you register a Balance Network Account, you
must provide the information identified in this
paragraph 3 or otherwise as requested by Balance
Network, and accept these Terms, the Privacy
Policy, and other Balance Network Platform
Rules. Balance Network may refuse, in its
discretion, to open a Balance Network Account
for you. You agree to provide complete and
accurate information when opening a Balance
Network Account, and agree to timely update any
information you provide to Balance Network to
maintain the integrity and accuracy of the
information. Each User (including natural person,
business or legal entity) may maintain only one
main account at any given time. However, Users
can open one or more subaccounts under the main
account with the consent of Balance Network. For
certain Balance Network Services, you may be
required to set up a specific account independent
from your Balance Network Account, based on
the provisions of these Terms or the
Supplementary Terms. The registration, use,
protection and management of such trading
accounts are equally governed by the provisions of
this Section and Section VI, unless otherwise
stated in these Terms or the Supplementary
Terms.
2.3.2 Eligibility
By registering to use a Balance Network Account,
you represent and warrant that (a) as an individual,
you are at least 18 or are of legal age to form a
binding contract under applicable laws; (b) as an
individual, legal person, or other organization, you
have full legal capacity and sufficient
authorizations to enter into these Terms; (c) you
have not been previously suspended or removed
from using Balance Network Services; (4) you do
not currently have a Balance Network Account;
(5) you are neither a United States user, a
Malaysia user, a Singapore-based user, or an
Ontario (Canada)-based user; nor are you acting
on behalf of a United States user, a Malaysia user,
a Singapore-based user, or an Ontario (Canada)-
based user. If you act as an employee or agent of a
legal entity, and enter into these Terms on their
behalf, you represent and warrant that you have all
the necessary rights and authorizations to bind
such legal entity; (6) your use of Balance Network
Services will not violate any and all laws and
regulations applicable to you, including but not
limited to regulations on anti-money laundering,
anti-corruption, and counter-terrorist financing.
Please note that some products and services may
not be available in certain jurisdictions or regions
or to certain users. Balance Network reserves the
right to change, modify or impose additional
restrictions at its discretion at any time.
Futures and Derivatives Products. Futures, Coin
Futures, Margin, Balance Network Options and
Leveraged Tokens (“Futures and Derivatives
Products”) will not be available to all users of the
Netherlands, Germany, Italy, Australia and Hong
Kong, and retail users of the United Kingdom.
Crypto Tokens. Privacy tokens (XMR, ZEC,
DASH, XVG, XZC, KMD, ZEN) will not be
available to users of Australia with PayID
associated with the Balance Network accounts.
2.3.3 User Identity Verification
Your registration of an account with Balance
Network will be deemed your agreement to
provide required personal information for identity
verification. Such information will be used to
verify Users’ identity, identify traces of money
laundering, terrorist financing, fraud and other
financial crimes through Balance Network, or for
other lawful purposes stated by Balance Network.
We will collect, use and share such information in
accordance with our Privacy Policy. In addition to
providing such information, you agree to allow us
to keep a record of that information during the
period for which your account is active and within
five (5) years after your account is closed, in
compliance with global industry standards on data
storage. You also authorize us to conduct
necessary investigations directly or through a third
party to verify your identity or protect you and/or
us from financial crimes, such as fraud. The
information we require to verify your identity may
include, but is not limited to, your name, email
address, contact information, phone number,
username, government-issued ID, date of birth,
and other information collected during account
registration. When providing the required
information, you confirm it is true and accurate.
After registration, you must ensure that the
information is true, complete, and timely updated
when changed. If there are any grounds for
believing that any of the information you provided
is incorrect, false, outdated or incomplete, Balance
Network reserves 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 Balance Network services we provide
for you. If we are unable to reach you with the
contact information you provided, you shall be
fully liable for any loss or expense caused to
Balance Network during your use of Balance
Network services. You hereby acknowledge and
agree that you have the obligation to update all the
information if there is any change. By registering
an account, you hereby authorize Balance
Network to conduct investigations that Balance
Network considers necessary, either directly or
through a third party, to verify your identity or
protect you, other users and/or Balance Network
from fraud or other financial crimes, and to take
necessary actions based on the results of such
investigations. You also acknowledge and agree
that your personal information may be disclosed to
credit bureaus and agencies for fraud prevention
or financial crime prevention, which may respond
to our investigations in full.
2.3.4 Account Usage Requirements
The Balance Network Account can only be used
by the account registrant. Balance Network
reserves the right to suspend, freeze or cancel the
use of Balance Network Accounts by persons
other than account registrant. If you suspect or
become aware of any unauthorized use of your
username and password, you should notify
Balance Network immediately. Balance Network
assumes no liability for any loss or damage arising
from the use of Balance Network Account by you
or any third party with or without your
authorization.
2.3.5 Account Security
Balance Network has been committed to
maintaining the security of User entrusted funds,
and has implemented industry standard protection
for Balance Network Services. However, the
actions of individual Users may pose risks. 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 Balance Network
Account and personal information.
You should be solely responsible for keeping safe
of your Balance Network Account and password,
and be responsible for all the transactions under
your Balance Network Account. Balance Network
assumes 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.
By creating a Balance Network Account, you
hereby agree that:
Upon completion of the registration and identity verification for your Balance Network Account, you may use various Balance Network Services, including but not limited to, Crypto-to-crypto Trading, Fiat Trading, contract trading, leveraged trading, Balance Network Savings services, staking, acquiring market-related data, research and other information released by Balance Network, participating in User activities held by Balance Network, etc., in accordance with the provisions of these Terms (including Balance Network Platform Rules and other individual agreements). Balance Network has the right to:
Provided that you constantly comply with the express terms and conditions stated in these Terms, Balance Network grants you a revocable, limited, royalty-free, non-exclusive, nontransferable, and non-sublicensable license to access and use Balance Network Services through your computer or Internet compatible devices for your personal/internal purposes. You are prohibited to use Balance Network Services for resale or commercial purposes, including transactions on behalf of other persons or entities. All the above actions are expressly prohibited and constitute a material violation of these Terms. The content layout, format, function and access rights regarding Balance Network Services should be stipulated in the discretion of Balance Network. Balance Network reserves all rights not expressly granted in these Terms. Therefore, you are hereby prohibited from using Balance Network Services in any way not expressly authorized by these Terms.
These Terms only grant a limited license to access and use Balance Network Services. Therefore, you hereby agree that when you use Balance Network Services, Balance Network does not transfer Balance Network Services or the ownership or intellectual property rights of any Balance Network intellectual property to you or anyone else. All the 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 Balance Network Services, are exclusively owned, controlled and/or licensed by Balance Network Operators or its members, parent companies, licensors or affiliates. Balance Network owns any feedback, suggestions, ideas, or other information or materials (hereinafter collectively referred to as “Feedback”) about Balance Network or Balance Network Services that you provide through email, Balance Network Services, or other ways. You hereby transfer all rights, ownership and interests of the Feedback and all related intellectual property rights to Balance Network. You have no right and hereby waive any request for acknowledgment or compensation based on any Feedback, or any modifications based on any Feedback.
When you use Balance Network Services, you agree and undertake to comply with the following provisions:
3.2.1 Crypto-to-crypto Trading
Upon completion of the registration and identity
verification for your Balance Network Account,
you may conduct Crypto-to-crypto Trading on
Balance Network in accordance with the
provisions of these Terms and Balance Network
Platform Rules.
3.2a. Orders
Upon sending an instruction of using Balance
Network Services for Crypto-to-crypto Trading
(an “Order”), your account will be immediately
updated to reflect the open Orders, and your
Orders will be included in Balance Network’s
order book to match other users’ Orders. If one of
your Orders fully or partially matches another
user’s Order, Balance Network will execute an
exchange (a “Transaction”). Once the Transaction
is executed, your account will be updated to
reflect that the Order has been fully executed and
closed, or the Order has been partially executed.
The Order will remain uncompleted until it is fully
executed or cancelled under paragraph (b) below.
To conclude a Transaction, you authorize Balance
Network to temporarily control the Digital
Currencies involved in your Transaction.
3.2.2 Cancellation
For Orders initiated through Balance Network
Services, you may only cancel them before they
have been matched with other Users’ Orders.
Once your Order has been matched with another
user’s Order, you may not change, revoke or
cancel Balance Network’s authorization to
complete the Order. For any partially matched
Order, you may cancel the unmatched part of the
Order unless such portion has been matched.
Balance Network reserves the right to reject any
cancellation request related to the Order you have
submitted. If your account does not have sufficient
amount of Digital Currencies to execute an Order,
Balance Network may cancel the entire Order, or
execute part of the Order with the amount of
Digital Currencies you have in your account (in
each case, any Transaction related fees payable to
Balance Network are deducted as stated in
paragraph (c) below).
3.2.3 Fees
You agree to pay Balance Network the fees
specified in www.balancenetwork.io. Balance
Network may, in its discretion, update the fees at
any time. Any updated fees will apply to any sales
or other Transactions that occur following the
effective date of the updated fees. You authorize
Balance Network to deduct from your account any
applicable fees that you owe under these Terms.
3.2.4 Other Types of Crypto-to-crypto
Trading
In addition to the Crypto-to-crypto Trading that
allows users to directly place orders as mentioned
in paragraph (a) above, Balance Network may, in
its discretion, provide technical and platform
services for other types of Crypto-to-crypto
Trading under its separately formulated Balance
Network Platform Rules, such as One Cancels the
Other (OCO) and block trade.
3.3 Fiat Trading
Prior to conducting Fiat Trading, you shall
separately read and agree to the User Agreements
with various Balance Network partnered OTC
platforms, and comply with the Legal Statement,
Privacy Policy, P2P User Transaction Policy and
other specific Balance Network Platform Rules
related to Fiat Trading as well as the business
rules of such partners, and open an account on
such Balance Network OTC platforms, following
the completion of the registration and identity
verification for your Balance Network Account, if
applicable.
3.4 Futures Trading
Unless otherwise specified by Balance Network,
to conduct Futures Trading, you must conclude
with Balance Network a separate Balance
Network Futures Service Agreement and open a
special Collateral Account, following the
completion of registration and identity verification
for your Balance Network Account. You
acknowledge and agree that:
3.4.1
You fully understand the high risks of
Futures Trading, including but not limited to the
risk of major fluctuations of Digital Assets in
Futures Trading, and the risk of exacerbated
adverse outcome when leverage is used;
3.4.2
You have sufficient investment knowledge
and experience and the capacity to take risks
arising from Futures Trading, and agree to
independently assume all the risks arising from the
investment of Futures Trading;
3.4.3
Before performing Futures Trading, you
have read and understood all the contents of the
Balance Network Futures Service Agreement and
the relevant Balance Network Platform Rules, and
have consulted relevant professionals to make
informed decisions on whether and how to
complete Futures Trading according to their
recommendations and your own reasonable
judgment;
3.4.4
You agree and authorize Balance Network to
take various reasonable measures in its discretion
(including but not limited to forced liquidation and
forced position reduction under specific
circumstances) in accordance with the Balance
Network Futures Service Agreement and the
relevant Balance Network Platform Rules to
protect the legitimate interests of you, Balance
Network and other Users.
3.5 Options Trading
You acknowledge and agree that:
3.5.1
You fully understand the high risks of
Options Trading, including but not limited to the
risk of major fluctuations of Digital Assets in
Options Trading, and the risk of exacerbated
adverse outcome when leverage is used;
3.5.2
You have sufficient investment knowledge
and experience and the capacity to take risks
arising from Options Trading, and agree to
independently assume all the risks arising from the
investment of Options Trading;
3.5.3
Before performing Options Trading, you
have read and understood all the relevant Balance
Network Platform Rules, and have consulted
relevant professionals to make informed decisions
on whether and how to complete Options Trading
according to their recommendations and your own
reasonable judgment;
3.5.4
You agree and authorize Balance Network to
take various reasonable measures in its discretion
(including but not limited to forced liquidation and
forced position reduction under specific
circumstances) in accordance with the relevant
Balance Network Platform Rules to protect the
legitimate interests of you, Balance Network and
other Users.
3.6 Margins Trading
Unless otherwise specified by Balance Network,
prior to conducting Margins Trading, you must
open a special Collateral Account and/or complete
other related procedures, following the completion
of registration and identity verification for your
Balance Network Account.
3.6.1 Risks of Margins Trading
Margins Trading is highly risky. As a leveraged
trader, you acknowledge and agree that you access
and use Margins Trading and borrowing services
at your own risk, which include but are not limited
to:
3.6.2 To start Margins Trading:
3.6.3 Lending Services
Unless otherwise provided by Balance Network,
to borrow currencies, you must conclude with
Balance Network a separate Lending Services
User Agreement and open a special Collateral
Account and/or finish other relevant procedures,
following the completion of registration and
identity verification for your Balance Network
Account. You understand and agree that:
3.8 Balance Network Savings Service
Balance Network offers Balance Network
Savings, a service to provide Users with valueadded services for their idle Digital Assets. To use
Balance Network Savings service, you must
conclude with Balance Network a separate
Balance Network Savings Service User
Agreement and open a special Balance Network
Savings service account, following the completion
of registration and identity verification for your
Balance Network Account. When using Balance
Network Savings service, you should note that:
3.8.1 Balance Network Savings assets will be used
in cryptocurrency leveraged borrowing and other
businesses.
3.8.1
When you use Balance Network Savings
service, you will unconditionally authorize
Balance Network to distribute and grant the
leveraged interest according to Balance Network
Platform Rules.
3.8.2
You shall abide by relevant laws and
regulations to ensure that the sources of Digital
Assets are legitimate and compliant when using
Balance Network Savings service.
3.8.3
When you use Balance Network Savings
service, you should fully recognize the risks of
investing in Digital Assets and operate cautiously.
3.8.4
You agree that all investment operations
conducted on Balance Network represent your
true investment intentions and that unconditionally
accept the potential risks and benefits of your
investment decisions.
3.8.5
Balance Network reserves the right to
suspend or terminate Balance Network Savings
service. If necessary, Balance Network can
suspend and terminate Balance Network Savings
service at any time.
3.8.6
Due to network delay, computer system
failures and other force majeure, which may lead
to delay, suspension, termination or deviation of
execution of Balance Network Savings service,
Balance Network will use reasonable effort to
ensure but not promise that Balance Network
Savings service execution system runs stably and
effectively. Balance Network does not take any
responsibility if the final execution fails to match
your expectations due to the above factors.
3.9 Staking Programs
Balance Network will from time-to-time launch
Staking Programs for specific types of Digital
Currencies to reward, as per certain rules, users
who hold such Digital Currencies in their Balance
Network Accounts. When participating in Staking
Programs, you should note that:
3.9.1
Unless otherwise stipulated by Balance
Network, Staking Programs are free of charge and
Users may trade during the staking period;
3.9.2
Balance Network does not guarantee Users’
proceeds under any Staking Program;
3.9.3
Balance Network has the right to initiate or
terminate Staking Program for any Digital
Currencies or modify rules on such programs in its
sole discretion;
3.9.4
Users shall ensure that sources of the Digital
Currencies they hold in Balance Network
Accounts are legal and compliant and undertake to
observe related laws and regulations. Otherwise,
Balance Network has the right to take necessary
steps in accordance with these Terms or Balance
Network Platform Rules, including, without
limitation, freezing Balance Network Accounts or
deducting the Digital Currencies awarded to Users
who violate the rules of respective Staking
Programs.
3.10 Balance Network POS Service Agreement
3.10.1
Balance Network.com launched Balance
Network POS service for Balance Network.com
users to gain proceeds through idle cryptocurrency
assets.
3.10.2
Balance Network POS assets will be used
in cryptocurrency staking to gain proceeds and
other businesses.
3.10.3
When you use Balance Network POS
service, you will unconditionally authorize
Balance Network.com to distribute the staking
interest according to the rules of the platform.
3.10.4
You shall abide by the relevant laws of the
State to ensure that the sources of assets are
legitimate and compliant when using Balance
Network POS service.
3.10.5
When you use Balance Network POS
service, you should fully recognize the risks of
investment in cryptocurrency and operate
cautiously.
3.10.6
You agree that all investment operations
conducted on Balance Network.com represent
your true investment intentions and that
unconditionally accept the potential risks and
benefits of your investment decisions.
3.10.7
Balance Network.com reserves the right to
suspend or terminate Balance Network POS
service. If necessary, Balance Network.com can
suspend and terminate Balance Network POS
service at any time.
3.10.8
Due to network delay, computer system
failures and other force majeure, which may lead
to delay, suspension or deviation of Balance
Network POS service execution, Balance
Network.com will use commercially reasonable
effort to ensure but not promise that Balance
Network POS service execution system run stably
and effectively. Balance Network.com does not
take any responsibility if the final execution
doesn’t match your expectations due to the above
factors.
4.1 Disclaimer of Warranties
To the maximum extent permitted under
applicable law, Balance Network services,
Balance Network materials and any product,
service or other item provided by or on behalf of
Balance Network are offered on an “as is” and “as
available” basis, and Balance Network expressly
disclaims, and you waive, 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,
Balance Network does not represent or warrant
that the site, Balance Network services or Balance
Network materials are accurate, complete,
reliable, current, error-free, or free of viruses or
other harmful components. Balance Network does
not guarantee that any order will be executed,
accepted, recorded or remain open. except for the
express statements, agreements and rules set forth
in these terms, you hereby acknowledge and agree
that you have not relied upon any other statement
or agreement, whether written or oral, with respect
to your use and access of Balance Network
services. Without limiting the foregoing, you
hereby understand and agree that Balance
Network will not be liable for any losses or
damages arising out of or relating to:
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.
4.2 Disclaimer of Damages and Limitation of
Liability
To the maximum extent permitted by applicable
law, in no event will Balance Network, 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 Balance
Network services, any performance or nonperformance of Balance Network services, or any
other product, service or other item provided by or
on behalf of Balance Network and its affiliates,
whether under contract, statute, strict liability or
other theory even if Balance Network 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 Balance Network’s
gross negligence, fraud, willful misconduct or
intentional violation of law. Some jurisdictions do
not allow the exclusion or limitation of incidental
or consequential damages, so the above limitation
may not apply to you.
Notwithstanding the foregoing, in no event will
the liability of Balance Network, 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 Balance
Network and its affiliates, any performance or
non-performance of Balance Network 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 Balance Network under these terms in the
twelve-month period immediately preceding the
event giving rise to the claim for liability.
4.3 Indemnification
You agree to indemnify and hold harmless
Balance Network 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, Balance Network
Services, (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 Balance Network
Services. If you are obligated to indemnify
Balance Network Operators, their affiliates,
contractors, licensors, and their respective
directors, officers, employees or agents pursuant
to these Terms, Balance Network will have the
right, in its sole discretion, to control any action or
proceeding and to determine whether Balance
Network wishes to settle, and if so, on what terms.
Please be aware that all official announcements, news, promotions, competitions and airdrops will be listed on www.balancenetwork.io. Users undertake to refer to these materials regularly and promptly. Balance Network will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.
6.1 Suspension of Balance Network Accounts
You agree that Balance Network shall have the
right to immediately suspend your Balance
Network Account (and any accounts beneficially
owned by related entities or affiliates), freeze or
lock the Digital Assets or funds in all such
accounts, and suspend your access to Balance
Network for any reason including if Balance
Network suspects any such accounts to be in
violation of these Terms, our Privacy Policy, or
any applicable laws and regulations. You agree
that Balance Network shall not be liable to you for
any permanent or temporary modification of your
Balance Network Account, or suspension or
termination of your access to all or any portion of
Balance Network Services. Balance Network shall
reserve the right to keep and use the transaction
data or other information related to such Balance
Network Accounts. The above account controls
may also be applied in the following cases:
6.2 Cancellation of Balance Network Accounts
In case of any of the following events, Balance
Network shall have the right to directly terminate
these Terms by cancelling your Balance Network
Account, and shall enjoy the right but not the
obligation to permanently freeze (cancel) the
authorizations of your Balance Network Account
on Balance Network and withdraw the
corresponding Balance Network Account thereof:
Should your Balance Network Account be
terminated, the account and transactional
information that meet data retention standards will
be securely stored for 5 years. In addition, if a
transaction is unfinished during the account
termination process, Balance Network shall have
the right to notify your counterparty of the
situation at that time. You acknowledge that a
user-initiated account exit (right to erasure under
GDPR or other equivalent regulations) will also be
subjected to the termination protocol stated above.
If Balance Network is informed that any Digital
Assets or funds held in your Balance Network
Account are stolen or otherwise are not lawfully
possessed by you, Balance Network may, but has
no obligation to, place an administrative hold on
the affected funds and your Balance Network
Account. If Balance Network does lay down an
administrative hold on some or all of your funds
or Balance Network Account, Balance Network
may continue such hold until such time as the
dispute has been resolved and evidence of the
resolution acceptable to Balance Network has
been provided to Balance Network in a form
acceptable to Balance Network. Balance Network
will not involve itself in any such dispute or the
resolution of the dispute. You agree that Balance
Network will have no liability or responsibility for
any such hold, or for your inability to withdraw
Digital Assets or funds or execute trades during
the period of any such hold.
6.3 Remaining Funds After Balance Network
Account Termination
Except as set forth in paragraph 4 below, once a
Balance Network Account is closed/withdrawn,
all remaining account balance (which includes
charges and liabilities owed to Balance Network)
will be payable immediately to Balance Network.
Upon payment of all outstanding charges to
Balance Network (if any), Users will have 5
business days to withdraw all Digital Assets or
funds from the account.
6.4 Remaining Funds After Balance Network
Account Termination Due to Fraud, Violation
of Law, or Violation of These Terms
Balance Network maintains full custody of the
Digital Assets, funds and User data/information
which may be turned over to governmental
authorities in the event of Balance Network
Accounts’ suspension/closure arising from fraud
investigations, investigations of violation of law or
violation of these Terms.
Balance Network is not your 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 Balance Network Services. No communication or information provided to you by Balance Network 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 trades are executed automatically, based on the parameters of your order instructions and in accordance with posted 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. Balance Network does not recommend that any Digital Asset should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any Digital Asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. Balance Network will not be held responsible for the decisions you make to buy, sell, or hold Digital Asset based on the information provided by Balance Network.
It is Users’ responsibility to abide by local laws in relation to the legal usage of Balance Network Services in their local jurisdiction as well as other laws and regulations applicable to Users. Users must also factor, to the extent of their local laws all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. All users of Balance Network Services acknowledge and declare that their funds come from legitimate sources and do not originate from illegal activities; users agree that Balance Network will require them to provide or otherwise collect the necessary information and materials as per relevant laws or government orders to verify the legality of the sources and use of their funds. Balance Network maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate Users’ accounts and funds which are flagged out or investigated by legal mandate.
Access to Balance Network Services will require the submission of certain personally identifiable information. Please review Balance Network’s Privacy Policy at www.Balancenetwork.io for a summary of Balance Network’s guidelines regarding the collection and use of personally identifiable information.
Please read this section carefully, as it involves a
waiver of certain rights to bring legal proceedings,
including as a class action.
10.1 Notice of Claim and Dispute Resolution
Period.
Please contact Balance Network first!
Balance Network wants to address your concerns
without resorting to formal legal proceedings, if
possible. If you have a dispute with Balance
Network, then you should contact Balance
Network and a ticket number will be assigned.
Balance Network will attempt to resolve your
dispute internally as soon as possible. The parties
agree to negotiate in good faith to resolve the
dispute (which discussions shall remain
confidential and be subject to applicable rules
protecting settlement discussions from use as
evidence in any legal proceeding).
In the event the dispute cannot be resolved
satisfactorily, and you wish to assert a legal claim
against Balance Network, then you agree to set
forth the basis of such claim in writing in a
“Notice of Claim,” as a form of prior notice to
Balance Network. The Notice of Claim must:
10.2 Agreement to Arbitrate and Governing
Law.
You and Balance Network Operators agree
that, subject to paragraph 1 above, any dispute,
claim, or controversy between you and Balance
Network (and/or Balance Network Operators)
arising in connection with or relating in any way
to these Terms or to your relationship with
Balance Network (and/or Balance Network
Operators) as a user of Balance Network Services
(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) will be determined by
mandatory final and binding individual (not class)
arbitration, except as set forth below under
Exceptions to Agreement to Arbitrate. You and
Balance Network Operators further agree that the
arbitrator shall have the exclusive power to rule on
his or her own jurisdiction, including without
limitation any objections with respect to the
existence, scope or validity of the Agreement to
Arbitrate, or to the arbitrability of any claim or
counterclaim. Arbitration is more informal than a
lawsuit in court. There is no judge or jury in
arbitration, and court review of an arbitration
award is limited. There may be more limited
discovery than in court. The arbitrator must follow
this agreement and can award the same damages
and relief as a court (including, if applicable,
attorney fees), except that the arbitrator may not
award declaratory or injunctive relief in favor of
anyone but the parties to the arbitration. The
arbitration provisions set forth in this Section will
survive termination of these Terms. Arbitration
Rules. The arbitration shall be subject to the
HKIAC Administered Arbitration Rules (HKIAC.
Rules) in force when the Notice of Arbitration is
submitted, as modified by this Section X. The
arbitration will be administered by the Hong Kong
International Arbitration Centre (HKIAC). Unless
the parties agree otherwise, there shall be only one
arbitrator appointed in accordance with the
HKIAC Rules. Any arbitration will be conducted
in the English language. 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.
Judgment on any arbitral award may be given in
any court having jurisdiction over the party (or
over the assets of the party) against whom such an
award is rendered. Time for filing: Any arbitration
against Balance Network operators 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 paragraph 1 of this section, above. 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.
Process; Notice: The party who intends to seek
arbitration after the expiration of the Dispute
Resolution Period set forth in paragraph 1, above,
must submit a request to the HKIAC in
accordance with the HKIAC Rules. If we request
arbitration against you, we will give you notice at
the email address or mailing address you have
provided. You agree that any notice sent to this
email or mailing address shall be deemed effective
for all purposes, including without limitation to
determinations of adequacy of service. It is your
obligation to ensure that the email address and/or
mailing address on file with Balance Network is
up-to-date and accurate. Seat of Arbitration: The
seat of the arbitration shall be Hong Kong. Place
of Hearing: The location of any in-person
arbitration hearing shall be Hong Kong, unless
otherwise agreed to by the parties. Governing
Law: These Terms (including this arbitration
agreement) shall be governed by, and construed in
accordance with, the laws of Hong Kong.
Confidentiality. The parties agree that the
arbitration shall be kept confidential. The
existence of the arbitration, any nonpublic
information provided in the arbitration, and any
submissions, orders or awards made in the
arbitration (together, the “Confidential
Information”) shall not be disclosed to any nonparty except the tribunal, the HKIAC, the parties,
their counsel, experts, witnesses, accountants and
auditors, insurers and reinsurers, and any other
person necessary to the conduct of the arbitration.
Notwithstanding the foregoing, a party may
disclose Confidential Information to the extent
that disclosure may be required to fulfill a legal
duty, protect or pursue a legal right, or enforce or
challenge an award in bona fide legal proceedings.
This confidentiality provision shall survive
termination of these Terms and of any arbitration
brought pursuant to these Terms.
10.3 Class Action Waiver
You and Balance
Network agree that any claims relating to these
Terms or to your relationship with Balance
Network as a user of Balance Network Services
(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. You and Balance Network further agree 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 Balance
Network.
10.4 Modifications
Balance Network reserves
the right to update, modify, revise, suspend, or
make any future changes to Section X regarding
the parties’ Agreement to Arbitrate, subject to
applicable law. You hereby consent and agree that
it is your responsibility to ensure that your
understanding of this Section is up to date. Subject
to the applicable law, your continued use of your
Balance Network account shall be deemed to be
your acceptance of any modifications to Section X
regarding the parties’ Agreement to Arbitrate. You
agree that if you object to the modifications to
Section X, Balance Network may block access to
your account pending closure of your account. In
such circumstances, the Terms of Use prior to
modification shall remain in full force and effect
pending closure of your account.
10.5 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.
pending closure of your account.
11.1 Independent Parties
Balance Network 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.
11.2 Entire Agreement
These Terms constitute
the entire agreement between the parties regarding
use of Balance Network Services 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.
11.3 Interpretation and Revision
Balance
Network 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 Balance Network websites. 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 Balance Network Services
and cancel your account. You agree that, unless
otherwise expressly provided in these Terms,
Balance Network will not be responsible for any
modification or termination of Balance Network
Services by you or any third party, or suspension
or termination of your access to Balance Network
Services.
11.4 Force Majeure
Balance Network will not
be liable for any delay or failure to perform as
required by these Terms because of any cause or
condition beyond Balance Network’s reasonable
control.
11.5 Severability
If any portion of these Terms
is held invalid or unenforceable, such invalidity or
enforceability will not affect the other provisions
of these Terms, which will remain in full force
and effect, and the invalid or unenforceable
portion will be given effect to the greatest extent
possible.
11.6 Assignment
You may not assign or transfer
any right to use Balance Network Services or any
of your rights or obligations under these Terms
without prior written consent from Balance
Network, including any right or obligation related
to the enforcement of laws or the change of
control. Balance Network 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.
11.7 Waiver
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.
11.8 Third-Party Website Disclaimer
Any
links to third-party websites from Balance
Network Services does not imply endorsement by
Balance Network of any product, service,
information or disclaimer presented therein, nor
does Balance Network guarantee the accuracy of
the information contained on them. If you suffer
loss from using such third-party product and
service, Balance Network will not be liable for
such loss. In addition, since Balance Network has
no control over the terms of use or privacy
policies of third-party websites, you should read
and understand those policies carefully.
11.9 Matters Related to Apple Inc
If you use
any device manufactured by Apple Inc. To
participate in any commercial activities or reward
programs through Balance Network Services, such
activities and programs are provided by Balance
Network and are not associated with Apple Inc. In
any manner.
11.10 Contact Information
For more
information on Balance Network, you may refer to
the company and license information found on
Balance Network websites. If you have questions
regarding these Terms, please feel free to contact
Balance Network for clarification via our
Customer Support team
at www.balancenetwork.io