Terms & conditions

Last updated: 20th February 2021

Introduction

These terms and conditions  (the “Terms”) set out the legal terms that apply to your use of our website https://coinlager.com, any of its sub-domains and any other websites operated by us or on our behalf and any mobile device application or desktop application developed by us or on our behalf (together, the “Websites” and “Website” being a reference to any one of them) and the other services that we provide (the “Services”). When we refer to “we”, “us” or “our”, we mean Coinlager (Mainiell OÜ), a company registered in Estonia and our registered office is at Harju maakond, Tallinn, Lasnamäe linnaosa, Peterburi tee 46, 11415; our registered company number is 14648041. (the “Company”). Where we refer to “you” or “your” we mean you, the person using the Services.

Please read these Terms and Conditions carefully and make sure that you understand them before using the Services. Please note that by using the Services, you agree to be bound by these Terms and Conditions. If you do not accept these Terms and Conditions, you will not be able to use the Services and you should leave the Website immediately. If you continue to use the Website or if you order products, we will take this as your acceptance of these Terms and Conditions.

Please note that we may amend these Terms and Conditions from time to time so please check the Website regularly, and each time you use the Services to order products, to ensure you understand the legal terms which apply at that time.

1. Definitions

Account – a profile registered by the User on the Coinlager Platform.  

Application Programming Interfaces or API – Coinlager.com technology, which may include object code, software libraries, software tools, sample source code, published specifications and documentation. API shall include any future, updated or otherwise modified version(s) thereof furnished by Coinlager.com (in its sole discretion) to Licensee.

Buyer(s) – Member(s) that are submitting an offer to buy Digital currency through the Service.
Digital currencies – peer-to-peer decentralized digital representation of value (e.g. Bitcoin, Ether, Litecoin, etc.).   

Commission – the fee which is payable to Coinlager.com on each Transaction

Deposit means payment or transaction involving a transfer of Funds to the Coinlager Account.

Funds means the amount of Fiat money and/or Digital currencies used during the execution of Transactions.           

Force Majeure – any event due to any cause beyond the reasonable control of any Party, including, without limitation, interruption in telecommunications or Internet services or network provider services, breach or virus in the systems, fire, flood, explosion, acts of God, civil commotion, act of civil or military authorities, riots, insurrection, war, acts of government.

Member(s) – Buyers and Sellers as well as any holder of an Account. Personal Information: Information that identifies an individual, such as name, address, email address, trading information, and banking details. “Personal Information” does not include anonymized and/or aggregated data that. does not identify a specific user.      
Price – the “price per coin” for which Members are willing to purchase Digital currencies, using the Service in a Digital currency Purchase Transaction. The Price may be expressed in any of the currencies deposited by Members in their Account and supported by the Service. See our Site for a full list of currencies.
Seller(s) – Member(s) that are submitting an offer to sell Digital currencies through the Service.
Service(s) – the technological platform, functional rules and market managed by Coinlager. to permit Sellers and Buyers to perform purchase and sale transactions of Digital currencies.
Transaction – Includes the following:

  1. The agreement between the Buyer and the Seller to exchange Digital currencies through the Service for currencies at a commonly agreed rate (“Digital Currency Purchase Transaction”);
  2. The conversion of currencies into Digital currencies deposited by Members on their Account (“Conversion Transaction”);
  3. The transfer of Digital currencies among Members (“Digital Currency Transfer Transaction”);
  4. The transfer of currencies among Members (“Currency Transfer Transaction”); and
  5. The purchase of ancillary products (“Purchase Transactions”).

    Coinlager may not offer all of these types of transactions at this time or in all places.

Transaction Price – the total price paid by the Buyer in respect of each Transaction performed through the Service.

Usermeans a capable natural person under personal law or legal entity who uses the Services, registered on the Site according to the User Agreement and holds the User Account on the Site.
User Account – means a set of protected pages created as a result of User registration, with the help of which User has the ability to perform transactions and keep records of his activity on the Service.
Withdrawal and any term derived means an operation involving a transfer of Funds from the User’s Account.

2. Acceptance of terms

2.1. By using this website, you agree to be bound by these Terms, all applicable laws and regulations, and agree that you are responsible for compliance with any applicable local laws, whether you are a visitor of the site or a registered member. Use of digital currencies may be illegal in some jurisdictions and it is your responsibility to know the regulatory requirements concerning digital currency transactions in your jurisdiction before using the services. The materials contained herein are protected by applicable copyright and trademark law. This agreement also constitutes the entire and sole agreement between us and you, and supersedes all prior or contemporaneous agreements, representations, warranties and understandings with respect to the website and the content, products or services provided by or through the website and the subject matter of this agreement.

2.2. By opening an Account, you expressly represent and warrant:

  • You have accepted these Terms of Use; and
  • You are at least 18 years old, comply with all other eligibility and residency criteria.
  • Have not previously been suspended or removed from our Site;
  • You have full capacity and legal competence to use the Website and the Services and to contract, under the applicable law and law of the country of your residence, with the Coinlager and in doing so will not violate any other agreement, which you are a party to;
  • that you are not using the services on behalf of any third party.       

3. Risk disclosure

3.1

Coinlager does not and will not provide any investment advice or legal advice regarding your exchange. You acknowledge that only you are responsible for your decisions and actions performed on our platform and we will not make any personal recommendations for or advise you on the exchange of particular digital currencies. Before performing any exchange of digital currencies, you should carefully consider whether such an exchange is suitable for you with your current circumstances and financial resources.

3.2

Be aware that digital currencies are generally assumed to be subject to high volatility due to them still being in the early stages of developing, technologically and financially. Digital currencies do not necessarily have a specific form of protection or regulation by any governmental body, which means that by exchanging digital currencies, you will not be able to enforce any guarantees or safeguards expected with regulated financial services.

3.3

THE RISK OF LOSS IN THE EXCHANGE OF DIGITAL CURRENCIES CAN BE SUBSTANTIAL, AND THEREFORE YOU SHOULD UNDERSTAND THE POSSIBILITY OF LOSSES ASSOCIATED WITH THE EXCHANGE OF DIGITAL CURRENCIES AND MUST ASSUME RESPONSIBILITY FOR ALL THE RISKS ASSOCIATED WITH SUCH EXCHANGES AND FOR THEIR RESULTS.  

4. Intellectual property rights

4.1

We are the owner or the licensee of all intellectual property rights in our Website, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

4.2

You may print off one copy, and may download extracts, of any page(s) from our Website for your personal use and you may draw the attention of others within your organisation to content posted on our Website.

4.3

You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.

4.4

Our status (and that of any identified contributors) as the authors of content on our Website must always be acknowledged.

4.5

You must not use any part of the content on our Website for commercial purposes without obtaining a license to do so from us or our licensors.

4.6

If you print off, copy or download any part of our Website in breach of these terms of use, your right to use our Website will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.

5. Maintaining your account

5.1

You are responsible for maintaining adequate security and control of any and all IDs, passwords, hints, personal identification numbers (PINs) or any other codes that you use to access the Coinlager Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your Coinlager Account by third-parties. You are responsible for keeping your email address up to date in your Account in order to receive any notices or alerts that we may send you. Coinlager will not be liable for any loss or damage arising from your failure to protect your account information, or failure to follow or act on any notices or alerts that we may send to you. In the event you believe your Coinlager Account information has been compromised, contact Coinlager immediately.

5.2

We shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We advise the regular use of a reliable virus and malware screening and prevention software. If you have doubts about the authenticity of a communication purporting to be from Coinlager, you should login to your account through the Coinlager Site (www.Coinlager.com), not by clicking any links contained in emails.

5.3

This Site is for your personal and non-commercial use only. We are vigilant in maintaining the security of our Site and the Service. By registering with us, you agree to provide Coinlager.com with current, accurate, and complete information about yourself as prompted by the registration process, and to keep such information updated. You further agree that you will not use any Account other than your own or access the Account of any other Member at any time, or assist others in obtaining unauthorized access.

5.4

The creation or use of Accounts without obtaining the prior express permission from Coinlager.com will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and Coinlager may elect to take further action against you.

6. User obligations and warranties

6.1

You understand and acknowledge that you shall:

  • provide us with all the necessary cooperation in relation to this Agreement; and
  • provide us with all the necessary information as may be required by us;
  • without affecting your other obligations under this Agreement, comply with all applicable laws and regulations with respect to your activities under this Agreement;
  • carry out all your responsibilities set out in this Agreement in a timely and efficient manner;
  • In the event of any delays, we may adjust, cancel, revert, any agreed term, fee, transaction or delivery schedule as reasonably necessary and in accordance to the terms herein;
  • ensure that your credentials of the Coinlager Account(s) are safeguarded and unauthorized use is eliminated;
  • ensure a proper use of the Services and the consideration of our Internal Policies in accordance with the terms and conditions of this Agreement and shall be responsible for any unauthorized use or breach of this Agreement;
  • be, to the extent permitted by law and except as otherwise expressly provided in this Agreement, solely responsible for procuring, maintaining and securing your network connections and telecommunication, and all problems, conditions, delays, delivery failures and all other error, loss or damage arising from or relating to your network connections or telecommunications or caused by the internet;
  •  be, to the extent permitted by law and except as otherwise expressly provided in this Agreement, solely responsible for procuring, maintaining and using the Coinlager Account(s) and the activities therein, and all problems, conditions, delays, delivery failures and all other error, loss, damage or any other disatvantagious consequence arising from use of the Services;
  • ensure that any information provided to us, either on the questionnaire, website, email, other electronic means and/or otherwise shall be accurate and complete. We do not accept any responsibility of any loss or damage resulting from any wrongful or mistaken information inserted or provided by you;
  • not attempt to copy, duplicate, reproduce, sell, trade, or resell our Services;
  • in case that your Virtual Currency split or fork or require some other form of modification or alteration, you shall withdraw the relevant Virtual Currency from your Coinlager Account(s) and complete any relevant process for such split, modification or alteration required to be made. The Company will not perform or give effect to any split, fork, modification, or alteration on your behalf.

6.2

You agree to access and use our Services in good faith and not take unfair advantage of our services or are otherwise act in an unfair manner or abusive manner to our systems or Services.

6.3

You acknowledge and agree not to use the Services in ways that:

  • Violate, misappropriate, or infringe the rights of the Company, its customers, or others, including privacy, publicity, intellectual property, or other proprietary rights;
  • In any way that would jeopardize the Company or its business, either legal, reputational or technological wise;
  • using any electronic device, software, algorithm, or any dealing strategy that aims to manipulate or take unfair advantage of our Services and/or systems;
  • exploiting a fault, loophole or error in our software, system or Platform;
  • not reverse engineer, decompile or use the Platform or Software in any way to create any product of functionality similar to that provided by the Platform or the Software;
  • are illegal, obscene, defamatory, threatening, intimidating, harassing, hateful, racially, or ethnically offensive, or instigate or encourage conduct that would be illegal, or otherwise inappropriate, including promoting violent crimes; involve publishing falsehoods, misrepresentations, or misleading statements, including impersonating someone; and/or
  • involve sending illegal or impermissible communications such as bulk messaging, auto-messaging, auto-dialing, etc.;
  • avoid, bypass, remove, deactivate, impair, descramble or otherwise circumvent any technological measure implemented by us or any of our service providers or any other third party (including another customer) to protect the Services or Content;
  • disguise your location through IP proxying or other methods;
  • interfere with, or attempt to interfere with, the access of any customer, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, or mail-bombing the Services;
  • or interfere with our Services, including the servers and/or networks on which our Services operate or are connected;
  • use the Coinlager Account(s) in connection with any business involving tobacco products, prescription or non-prescription drugs, pornographic or obscene content or services, illegal downloads, illegal gambling or goods or services infringing intellectual property rights of a third party, or for any other goods or services the offering or provision of which is illegal under applicable law, or for any other prohibited type of goods or services as may be changed from time to time and provided to you by us, in our own discretion;
  • violate any applicable law or regulation; or
  • encourage or enable any other individual to do any of the foregoing.

6.4

If you carry out any of the behavior prohibited in clauses above, or we have reasonable grounds to believe you have done or about to do so, it will constitute a breach of the Agreement and, in addition to our rights under this Agreement, we may:

  • terminate your access to our Services;
  • amend the transaction or transactions, so that it is as it would have been if the transaction was executed in the absence of the improper behavior;
  • enforce the transaction against you if it is a transaction under which we have incurred a loss; and/or
  • treat the transaction as void if it is a transaction under which you have secured a profit (and retain any such profit for our own account, subject to Applicable Law), unless and until you produce conclusive evidence within 6 months of the Transaction being closed that you have not, in fact, carried out the relevant improper behavior.

6.5

If we exercise any of our rights under this clause, and if you have received any monies from us in connection with any associated transaction or transactions, you agree that those monies are due and payable to us and you agree to immediately return an equal sum to us.

6.6

You understand and confirm that the safety and security of your Computer and devices are under your sole responsibility. We are not liable for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from us. Always log into your Coinlager Account(s) through our website, Coinlager Website, to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.

6.7

You are responsible for keeping electronic devices through which Services are accessed safe and maintaining adequate security and control of any and all security details that are used to access the Services. This includes taking all reasonable steps to avoid the loss, theft or misuse of said electronic devices and ensuring that said electronic devices are password protected. Any loss or compromise of personal electronic devices or security details may result in unauthorized access of your Coinlager Account(s) by third-parties and the loss or theft of any Virtual Currency and/or funds held in your Coinlager Account(s) and the misuse of any associated accounts, including linked bank account(s) and credit/debit card(s). You must keep security details safe at all times.

6.8

If you suspect that your Coinlager Account(s) or any of your security details have been compromised or if you become aware of any fraud or attempted fraud or any other security incident (including a cyber-security attack) affecting you and / or the Company (together a “Security Breach”), you must notify us at “ Coinlager Support ” as soon as possible by email free of charge at [email protected] and continue to provide accurate and up to date information throughout the duration of the Security Breach. You must take any steps that we reasonably require to reduce, manage or report any Security Breach. Failure to provide prompt notification of any Security Breach may be taken into account in our determination of the appropriate resolution of the matter.

6.9

If you are unable to access to your Coinlager Account(s) because you have lost or are unable to use your login information, we will not provide you with access to your Coinlager Account(s) until you have provided verification of your ownership of the account by answering questions based on Coinlager Account(s) information. The purpose of this verification process is to ensure that access to any Coinlager Account(s) is only given to the rightful owner of that Account.

6.10

You acknowledge that in respect of the Services, we operate solely as an exchange and that we:

  • Under no circumstances function as a dealer, middleman, retailer, auctioneer, supplier, distributor, manufacturer, broker, agent or merchant of any product or service (including your Products/Services);
  • make no representations and give no warranties and do not ensure to have any responsibility for the quality, safety or legality of any of your products or services; and
  • in respect of any dispute regarding your Products/Services, that dispute is only between you and the counterparty you have transacted with. Any transaction connected with your Products/Services shall only obligate you. We shall not be a party to any resulting dispute (including disputes over performance and liability issues relating to the delivery, quality, quantity or use of your Products/Services) and/or any other liability that might arise in relation to the provision of your Products/Services by you.    

7. Security measures – AML/KYC policy

7.1

Coinlager takes all appropriate measures and implements the best standards of compliance with all applicable laws and regulations regarding Anti-Money Laundering. Coinlagerwill make reasonable efforts to detect and prevent people engaged in any criminal activity in any jurisdiction from using the Service.  To prevent and mitigate possible risks of Coinlager being involved in any kind of illegal activity the AML/KYC Policy was adopted.

7.2

By accepting this Terms of Use Agreement, Users confirm that they own Funds legally. If the Funds of third parties are used to make Transaction through the Service, then the Users themselves are liable for the eligibility of these Funds.

7.3

If Coinlager has the grounds to suppose that the User is willing to commit a suspicious transaction it may at its discretion: to refuse to render the Services upon certain Order; (i) request additional information proving legitimate character of the operation; (ii) to block access of the User to the User account; (iii) to terminate the User Agreement without prior notice of the User.

8. Accounts

8.1

You are solely responsible for maintaining the confidentiality of the information you hold for your registered Coinlager.com account, inclusive of your password, and for any and all activity that occurs under your account as a result of your failing to keep this information secure and confidential. You agree to notify Coinlager immediately of any unauthorized use of your account or password, or any other breach of security.

8.2

Only one person may use an account to access the Coinlager.com services. Using multiple accounts for any malicious activity will result in immediate account termination. The administration of Coinlager.com reserves the right to terminate any user account without prior notice. You can also register using your social network account. Any person whose account or access through which has been suspended or terminated by us or any person who has been banned or removed from any Coinlager.com services may not access the services in any manner or for any reason, including through any other account. In compliance with AML/KYC Policy, Coinlager.com reserves the right to refuse registration to persons from jurisdictions that do not meet international AML or KYC standards. 

9. Personal information

9.1

Personal Information of users are collected, stored, distributed and protected according to the Privacy Policy.Please refer to that document.         

10. Feedback

10.1

You represent and warrant that You own all intellectual property rights to provide Your Feedback. If you provide any feedback to Coinlager concerning the functionality and performance of the Service (including identifying potential errors and improvements), whether by e-mail, posting through our Services or otherwise, you hereby assign to Coinlager all rights, title, and interest in and to the feedback, and Coinlager is free to use the feedback without payment or restriction. Any Feedback you submit is non-confidential and shall become the sole property of Coinlager. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you.

11. Refund policy

11.1

To be eligible for a refund, in line with these Terms, the User must include address information whenever making Transaction. To apply for a Refund, the User must request and complete a Refund Form and send the respective form to the Coinlager support address – [email protected]

12. Form of refund

12.1

If an error occurs with a User’s Transaction or interface on the User’s side of the Transaction, the “Order Status” page will indicate whether or not the failed Transaction will result in a refund of the User’s deposited asset or the outgoing asset which the User was purchasing. In most cases, the asset sold by Coinlager or the user will be refunded to the User if the Order Status page indicates the Transaction failed by displaying “failed,” or the Transaction is stuck in “awaiting” “pending confirms,” or “awaiting” stages. In most cases, the outgoing asset will be sent to the User if the Order Status indicates a successful Transaction by displaying “Done” or “Completed.” Coinlager will handle requests from Users on a case by case basis. Any decisions by Coinlager with respect to the refunds or exchanges are final.

13. Refund fees

13.1

All Transactions from Coinlager to a user’s outgoing asset wallet are subject to all posted fees, including, but not limited to incoming and outgoing miner fees, which may be deducted from any refund.

14. Refund period

14.1

Users have a maximum of ninety (90) days to reclaim any assets that are held in the Coinlager system due to any error, whether by you or us. Refund requests submitted after such period will not be refunded. Any decisions by Coinlager with respect to refunds in these circumstances are final.   

15. Minimum refund amount

15.1

Transactions under the amount posted on fee schedule on the Website are too small to be refunded due to the mining fee and administrative costs. Coinlager will not refund any assets that are worth less than the posted amount. Users are advised not to use the service for orders under this size. User Transactions that do not confirm within forty-eight (48) hours of being detected will be cancelled. Refund requests will be provided in accordance with our Returns and Refund Policy.

16. Termination and escrow of unverified accounts

16.1

You may terminate this Agreement with Coinlager, and close your Account at any time, following settlement of any pending transactions.

16.2

Notwithstanding any other provision of this Agreement, User acknowledges and agrees that Coinlager has the right to immediately terminate the User Account, to lock any Funds in this User Account, and terminate access to the Service in the following cases:

there is any suspect or the fact of violation of the User Agreement, Privacy Policy,  or any applicable laws and regulations;

this User Account and activities of User became the subject to a criminal investigation or other pending administrative proceeding or litigation;

Coinlager detected unusual and suspicious activity in the User Account;

in case of unauthorized access to the User Account;

Coinlager was required to do so by a court order or the order of regulatory/government authority.

¨16.3

You also agree that Coinlager may, by giving notice, in its sole discretion terminate your access to the Site and to your Account, including without limitation, our right to: limit, suspend or terminate the service and Members’ Accounts, prohibit access to the Site and its content, services and tools, delay or remove hosted content, and take technical and legal steps to keep Members off the Site if we think that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Members for any reason, including without limitation:  

  • attempts to gain unauthorized access to the Site or another Member’s account or providing assistance to others’ attempting to do so,
  • overcoming software security features limiting use of or protecting any content,
  • usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities,
  • violations of these Terms of Use,
  • failure to pay or fraudulent payment for Transactions,
  • unexpected operational difficulties, or
  • upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Coinlager.com, acting in its sole discretion.

16. 4

User acknowledges that Coinlager shall have the right to restrict his/her access to, or to impose limits or suspend his use of, the Site (including capacity to place Orders and enter into Transaction, or to discontinue transmitting any data or other information, or to refuse to enter into, facilitate or process any or all Transaction, if in the Coinlager’s sole discretion any of the following circumstances occur or Coinlager considers such circumstance to be likely to occur:

  • full or partial failure of the Site, including failure of any of the technology constituting the Site or any of the communications links within the Site or between the Site and any other Person or counterparty, or any other circumstance where Coinlager considers in its reasonable discretion that it is not practicable for Coinlager to provide access to the Site;
  • a breach in the security of the Site;
  • in order to comply with Law (including but not limited to the prohibition of or restrictions in respect of any Crypto currency).

16.5

Any actions taken by Coinlager pursuant to this Section 18 shall continue for such time as Coinlager shall in its reasonable and sole discretion consider necessary or desirable. User agrees that it shall be a material breach of this Agreement to evade, or attempt to evade, any suspension, restriction or limitation imposed under this Section 18 of the Agreement; and Coinlager shall not at any time be obliged to take any action permitted under this Section 18.

16.6

In addition, User acknowledges and agrees that if any of the circumstances enumerated in through this Section 18 occurs at any time, Coinlager may cancel the Transaction previously executed by the User through the Site so long as Coinlager immediately notifies User of any such cancellation.

16.7

Should the User Account be terminated, the User Account and Personal Information required for meeting data retention standards will be securely stored for five years.

16.8

Once the User Account is closed in a normal regime and without violation of User agreement or based on cases mentioned the User agreement, the User will have 5 working days to withdraw all Funds from the User Account.

16.9

In the event of termination of User Agreement due to its violation by User (including but not limited to the use of the Service by persons from the Restricted Jurisdictions, or as part of the investigation of fraudulent transactions and the fight against money laundering, Coinlager cancels User’s Account, and has the right to impose a penalty on the amount of the entire balance of Funds held in the User’s Account.                

16.10

We expressly reserve the right to cancel and/or terminate Accounts that have not been verified by the Client despite our good faith efforts to contact you seeking such verification (“Unverified Accounts”). All Unverified Accounts which have been inactive for a period of 6 months or more are further subject to transfer to a third-party escrow (the “Unverified Escrow”), and will no longer be maintained or be the legal responsibility of Coinlager. The administrator/trustee of the Unverified Escrow shall make any and all additional reasonable efforts required by law to determine and contact each Unverified Account owner and, after suitable effort and time, will donate any residual Bitcoin or cash in these unclaimed Unverified Accounts to a nonprofit group or groups involved in the Bitcoin ecosystem.

16.11

The suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Members shall communicate a valid bank account to allow for the transfer of any currencies credited to their account. Said bank account shall be held by the Member. Digital currencies may be transferred to a valid bank account only after conversion into a currency. Coinlager shall transfer the currencies as soon as possible following the Member’s request in the time frames specified by Coinlager.

16.12

Coinlager will send to you the credit balance of your Account, however in circumstances a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. We will use reasonable efforts to ensure that such charges are disclosed to you prior to sending your payment, however where they cannot be avoided, you acknowledge that these charges cannot always be calculated in advance, and that you agree to be responsible for such charges.

16.13

Upon Account closing, any amount less than $5 in value will not be returned.       

17. Availability of service

17.1

All Services are provided “AS IS”, without guarantees of any kind, either expressed or implied.

17.2

Although Coinlager does its best to keep the Site up and running, all online services suffer from occasional disruptions and outages and Coinlager is not liable for any disruption or loss the User may suffer as a consequence. Thus, Coinlager does not provide any guarantees that access to the Site will not be interrupted or that there will be no delays, failures, errors, omissions or loss of transmitted information.

17.3

We will take reasonable endeavors to ensure that the User can normally access the Site in accordance with the Terms & Conditions. Coinlager may suspend use of the Site for maintenance and will make reasonable efforts to give the User a notice. The User acknowledges that this may not be possible in case of emergencies.

17.4

If Coinlager is unable to perform the Services outlined in the Terms & Conditions due to Force Majeure events or any other factors beyond our control, change of law or change in sanctions policy, Coinlager cannot be held responsible to the User with respect to the Services provided hereunder and for a time period coincident with the event.  

18. API’s & widgets

18.1

Coinlager may provide certain parties with access to specific data and information through our API (Application Programming Interface) or widgets. Coinlager also may provide widgets for your use to enter our data on your Site. The User is free to use these in their original unmodified and un-altered state.

19. External websites

19.1

The Coinlager Site may contain external links to third party websites on the Internet network. Coinlager does not have any control on these external websites and their content is not checked against any criteria whatsoever (e.g. authenticity, completeness, legality etc.).

19.2

Coinlager is not to be held liable or responsible for any of these external websites, which are linked from the Coinlager website with regards to the information, expressed opinions, advice or statements, advertising materials, the accessibility and any possible consequences of use of these third parties’ sites, such as damages, losses, failures, and problems. You are solely responsible.

19.3

The external website has separate terms of use and policies. Before using their services, content, information or any other material on these external websites you must review their policies, rules, terms and regulation and you are solely responsible to take the necessary precautions to ensure that whatever you decide to use is free of viruses, worms, Trojan horses and other destructive items.

19.4

Our Service may contain links to third party web sites or services that are not owned or controlled by Coinlager.

19.5

Coinlager has no control over, and assumes no responsibility for the content, privacy policies, or practices of any third-party web sites or services. We do not warrant the offerings of any of these entities/individuals or their websites.

19.6

YOU ACKNOWLEDGE AND AGREE THAT COINLAGER SHALL NOT BE RESPONSIBLE OR LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS CAUSED OR ALLEGED TO BE CAUSED BY OR IN CONNECTION WITH USE OF OR RELIANCE ON ANY SUCH CONTENT, GOODS OR SERVICES AVAILABLE ON OR THROUGH ANY SUCH THIRD PARTY WEB SITES OR SERVICES.

19.7

WE STRONGLY ADVISE YOU TO READ THE TERMS OF SERVICE AND PRIVACY POLICIES OF ANY THIRD PARTY WEB SITES OR SERVICES THAT YOU VISIT.

20. Financial advice

20.1

The information contained on the Coinlager Services or provided to you through Coinlager or by any employee, agent or affiliate of Coinlager does not constitute an offer or solicitation to buy or sell digital assets or financial instruments, nor financial, investment or other professional advice on any particular transaction and must not be treated as a substitute for specific advice in any jurisdiction.

20.2

You are solely responsible for any decision to store, buy or sell digital assets, and such decision should take into account your risk tolerance and financial circumstances. Advice from a suitably qualified professional should always be sought in relation to any particular transaction and your particular circumstances.       

21. Email

21.1

Sending not encrypted email messages over the Internet network is not secure and Coinlager cannot be held liable or responsible for any damages, losses or problems that might have arisen as a result of sending or receiving such email.

22. Disclosure to legal authorities and authorised financial institutions

22.1

We may share your Personal Information with law enforcement, data protection authorities, government officials, and other authorities when:

  • Required by law;
  • Compelled by subpoena, court order, or other legal procedure;
  • We believe that the disclosure is necessary to prevent physical harm or financial loss;
  • Disclosure is necessary to report suspected illegal activity; or
  • Disclosure is necessary to investigate violations of our Terms of Use or Privacy Policy. With respect to US residents, we also may share your information with other financial institutions as authorized under Section 314(b) of the US Patriot Act, and with tax authorities, including the US Internal Revenue Service, pursuant to the Foreign Account Tax Compliance Act (“FATCA”), to the extent that this statute may be determined to apply to ExFrame OÜ. “Personal Information” refers to information that identifies an individual, such as name, address, e-mail address, trading information, and banking details.
  • “Personal Information” does not include anonymized and/or aggregated data that does not identify a specific user.

23. Jurisdiction and governing law

23.1

These Terms of Use shall be governed by and construed in accordance with the laws of Estonia, unless otherwise expressly provided. All disputes and controversies arising out of or in connection with this website and these Terms of Use shall be submitted to the relevant court in Estonia. If any portion of these Terms of Use shall be deemed invalid, void or for any reason unenforceable, such portion shall be deemed severable and shall not affect the validity and enforceability of any remaining portion.

24. Limitation of liability

24.1

Except as expressly provided to the contrary in a writing by us, our services are provided on an “as is” and “as available” basis. We expressly disclaim, and you waive, all warranties of any kind, whether express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement as to our services, including the information, content and materials contained therein.

24.2

Except as otherwise required by law, in no event shall Coinlager, our directors, officers, members, employees or agents be liable for any direct, indirect, consequential or special damages, or any other damages of any kind, including, but not limited to, loss of use, loss of profits or loss of data, whether in an action in contract, tort (including but not limited to negligence) or otherwise, arising out of or in any way connected with the use of or inability to use our services, including without limitation any damages caused by or resulting from reliance by any user on any information obtained from Coinlager, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a force majeure event, communications failure, theft, destruction or unauthorized access to Coinlager’s records, programs or services.

24.3

Exchanges via our services cannot be canceled by Coinlager. therefore, check the details of your exchange details before making such exchange. Coinlager is not responsible for your digital currencies once they have been sent outside of the services. Moreover, Coinlager doesn’t guarantee the uptime of the exchange.

24.4

To the maximum extent permitted by applicable law, in no event shall the aggregate liability of Coinlager (including our directors, officers, members, employees and agents), whether in contract, warranty, tort (including negligence, whether active, passive or imputed), product liability, strict liability or other theory, arising out of or relating to the use of, or inability to use, Coinlager or to these terms exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) 125% of the amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).       

24.5

We strive to protect our users from fraudulent and scam activities in the sphere of digital currencies. It is possible, that some digital currencies are purposed for unlawful seizure of the property, or are construed as a fraud, scam or any other activity, recognized by the laws as illegal and/or non-compliant with legal requirements. Coinlager cooperates with law enforcements agencies and other competent authorities in order to determine and disclose such digital currencies. We reserve the right to prohibit and discontinue any exchanges via our services with such digital currency at our sole discretion, without any prior notice to you and without publication of the reason for such decision, whenever this comes to our knowledge. You indemnify and hold Coinlager harmless against any claims, demands and damages, whether direct, indirect, consequential or special, or any other damages of any kind, including, but not limited to, loss of use, loss of profits or loss of data, whether in an action in contract, tort (including but not limited to negligence) or otherwise, originated from or in any way connected with prohibition and discontinuation of exchanges in our website with any digital currency.

25. Indemnification

25.1

You agree to defend, indemnify and hold harmless Coinlager, its independent contractors, service providers and consultants, and their respective directors, employees, and agents, from and against any claims, damages, costs, liabilities, and expenses (including, but not limited to, reasonable attorneys¡’ fees) arising out of or related to: (a) your use of the Website; (b) any user content or Feedback you provide; (c) your violation of these Terms; (d) your violation of any rights of another; or (e) your conduct in connection with the Website. Some jurisdictions limit consumer indemnities, so some or all of the indemnity provisions above may not apply to you. If you are obligated to indemnify us, we will have the right, in our sole and unfettered discretion, to control any action or proceeding and determine whether we wish to settle it, and if so, on what terms.                                                                                                                                        

26. Modification of terms

26.1

Coinlager shall have the right, at its sole discretion, to make modifications and revisions to this Agreement in case of any changes in technology, standards, legislation, administrative or business practices, or any changes in providing the Services. The changes take effect from the moment the new version of these Terms is published on the Website. You can determine when these Terms was last updated using the date mark indicated in this clause.

26.2

We reserve the right to make any changes retroactive to the extent permitted by applicable law. Any such changes will be effective from the date of validity of these Terms, which applies to the relations of the Parties arising from January 1, 2020. If we make a material change to these Terms, we will notify you by posting a prominent notice of the change on the Website or otherwise notify you of the changes.

26.3

At each successive using of the Coinlager Account you commit to become familiar with the effective version of these Terms. If you continue using the Website and/or the Platform through your Coinlager Account, this will mean that you agree with the new version of these Terms. If you do not agree to the changes, you can terminate these Terms at any time. In such case you should accomplish and close all outstanding trades and other obligations, withdraw any remaining balances and close down your Coinlager account. The current version of the Agreement has last been amended as written on the top.

27. Waiver and severability

27.1

If you breach these Terms and Conditions and we take no action, or if we delay in taking action, that does not mean that we have waived our rights and we will still be entitled to use our rights and remedies. If we do waive a breach by you, we will only do so in writing (signed by one of our Directors), and that will not mean that we will automatically waive any later breach by you.

27.2

These Terms and Conditions shall supersede any other arrangements between the User and Coinlager as well as all prior versions thereof. Should any provision of these Terms and Conditions (a clause or a statement within a clause) be void, unenforceable or legally invalid otherwise, it shall not affect any other provision hereof, or these Terms and Conditions as a whole.           

28. Widget

28.1

Coinlager.com may provide a Widget for the third parties – legal entities that have signed an agreement on mutual services with Coinlager and have a right to place the Widget to their web portal or cash-in terminal interface in the original unmodified and unaltered state. The use of this Widget by the end-users is the subject to these these Terms and Conditions.

                                                                                                                                        

29. Contact us

29.1

If You have any questions or feedbacks, You may contact Coinlager via Coinlager’s customer support at [email protected] Please provide identifying information such as Your name, address, and any other information Coinlager may need to identify You, Your Account, and the transaction on which You have feedback or questions.