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1.
Acceptance
of terms
Thank you
for choosing iMoneyXchange. The following Terms and Conditions and the Privacy
Policy (together, the “Terms”) apply to any person that registers for and/or
opens a iMoney Xchange Account through imoneyxchange.com or any associated
mobile applications, website, or APIs (together, the “iMoney Xchange Site”).
The Terms
constitute a legally binding agreement between you and iMoney Xchange, which is
a company incorporated under the laws of South Africa as iMoney Technology. For
further information on the different iMoney Xchange group companies, please see
the company information page on the iMoney Xchange website. For the purposes
of these Terms, any reference to “we” “us” “our” “iMoney Xchange” and/or any
similar term shall be construed as reference to iMoney Technology (Pty) Ltd.
By
registering for and opening a iMoney Xchange Account, you unconditionally accept
these Terms and agree to be bound by and act in accordance with them. You also
accept and agree that you are solely responsible for understanding and
complying with all laws, rules, regulations and requirements of the
jurisdiction in which you live that may be applicable to your use of the iMoney Xchange
Site and/or your iMoney Xchange Account, including but not limited to, those
related to export or import activity, taxes or foreign currency transactions.
Depending on your country of residence, you may not be able to use all the
functions of the iMoney Xchange Site.
Please read
these Terms carefully before using the iMoney Xchange Site because they affect
your legal rights and obligations.
2.
Amendment of
terms
iMoney
Xchange may amend the Terms from time to time. You should visit the iMoney Xchange
website regularly to check when the Terms were last updated (as displayed at
the top of this document) and to review the current Terms. We will do our best
to notify you of any amendments to the Terms that we consider likely to
materially affect your rights and obligations. Any such notice will be posted
on the iMoney Xchange Site, or sent by email to the address associated with your iMoney
Xchange Account.
The
continued use of your iMoney Xchange Account, after any amendment to these
Terms, constitutes your acceptance of the Terms, as modified by such amendment.
If you do not accept the Terms, or any amendment to them, you must immediately
stop using theiMoney Xchange Site and youriMoney Xchange Account.
3.
Eligibility
By opening a iMoney
Xchange Account, you expressly warrant and represent that:
o
You are 18 years of age or over and
have full capacity to accept the Terms and enter any transaction available
through the iMoney Xchange Site;
o
You will not open, or attempt to
open, a iMoney Xchange Account under any name except your own; or use your iMoney
Xchange Account to carry out transactions on behalf of a third party;
o
You will follow the iMoney Exchange
account opening process if you seek to open and use a iMoney Xchange Account for
a non-individual legal entity (e.g. a company, trust or partnership);
o
You will not have more than one iMoney
Xchange Account; use or access any iMoney Xchange Account other than your own;
or assist any other person in obtaining unauthorized access to any iMoney Xchange
Account;
o
You will provide security for
transactions carried out through your iMoney Xchange Account by ensuring that
you have either (i) deposited enough there is sufficient Local Currency into a iMoney
Xchange bank account to acquire sufficient credit in your iMoney Xchange Wallet
or (ii) hold sufficient cryptocurrency, (as the case may be) in your iMoney Xchange
Account Wallet in advance of any transaction;
o
You will not allow or facilitate the
deposit of Local Currency into your iMoney Xchange Account unless that deposit
is made in accordance with the Deposit Requirements.
o
You will not allow or facilitate the
withdrawal of Local Currency from your iMoney Xchange Wallet to a bank account
held in the name of a third party;
o
You will not use your iMoney Xchange
Account for or in relation to any illegal activity, any Prohibited
Activity in violation of any laws, statutes, ordinances or regulations, or in
breach of iMoney Xchange’s Export Controls and Sanctions requirements;
Any
capitalised terms used in this Eligibility section shall have the meaning given
to them in these Terms. Reference in these Terms to “Local Currency” means fiat
or government issued currency, which in South Africa is Rand (ZAR).
By opening a iMoney
Xchange Account you accept and agree thati Money Xchange may, without further
notice and in its sole discretion, terminate, suspend or restrict the account
of any customer who uses, or who we reasonably suspect may be using, the iMoney Xchange
Site or any iMoney Xchange Account in a manner that is inconsistent with the
letter or spirit of these Terms.
4.
Risks
Before using
the iMoney Xchange Site, you should ensure that you understand the risks
involved in buying, selling or trading cryptocurrencies. Cryptocurrency markets
can be volatile and prices can fluctuate significantly, which could result in
sudden and significant increases or decreases in the value of your assets. This
market volatility and other risks involved in buying, selling or trading
cryptocurrencies are explained on the Risk Warning page
of the iMoney Xchange website. There may be additional risks not identified in
these Terms or in the Risk Warning.
You
should carefully assess whether your financial situation and risk tolerance is
suitable for buying, selling or trading cryptocurrency. You accept and agree
that you are solely responsible for any decision to buy, sell, trade or
otherwise hold or deal with cryptocurrency, and that iMoney Xchange does not,
and will not, offer you any financial advice in connection with your use of, or
transactions you conduct on, iMoney Xchange’s platform.
5.
Electronic
communications
You accept
and agree that:
o
any communications, agreements,
notices and/or any other documents (together “Communications”) relating to your iMoney
Xchange Account or your use of iMoney Xchange’s services will be provided to you
electronically by posting them on the iMoney Xchange Site, emailing them to the
email address you have provided to us, or through any other form of electronic
communication. You consent to receiving all Communications electronically;
o
you will at all times have available
to you the necessary hardware and software to receive, access and retain
Communications sent to you electronically, including a device with an internet
connection and a valid and accessible email address;
o
you assume full responsibility for
providing iMoney Xchange with a valid and accessible email address to which any
Communications may be sent, and for ensuring that email address and any other
contact information is kept up to date. Any Communication sent to the email
address you have provided to us will be deemed to have been received by you.
You can amend your contact information by signing-in to your iMoney Xchange
Account and accessing the Settings page.
You may at
any time withdraw your consent to receiving Communications electronically by
contacting support@imoneyxchange.com
. You acknowledge that failure to give, or withdrawing, consent to receiving
Communications electronically puts the security of your iMoney Xchange Account
at risk (see Account Security) and that iMoney Xchange reserves the right to
close your iMoney Xchange Account in the event you fail to give, or withdraw,
your consent to the receipt of Communications electronically.
6.
Identity
verification
iMoney
Xchange implements and maintains the highest standards of Know Your Customer
(“KYC”) processes and controls as part of our commitment to combating fraud and
assisting in the prevention of money laundering and terrorist financing.
To ensure we
meet these standards, our customers are required to provide certain personal
details and documents when opening a iMoney Xchange Account (“Identity
Verification”). The nature and extent of the Identity Verification required
will depend upon which of our supported countries you are resident in, and the
deposit and withdrawal limits that you wish to apply to your iMoney Xchange
Account. In certain circumstances, iMoney Xchange may also perform enhanced due
diligence (“EDD”) procedures in relation to your iMoney Xchange Account. You
accept and agree that you will remain subject to such procedures at all times.
iMoney
Xchange reserves the right to, at any time:
o
restrict or suspend your iMoney Xchange
Account when we, in our sole discretion, consider it necessary to carry out
further Identity Verification and/or EDD; or
o
terminate your iMoney Xchange
Account if you provide, or we suspect you have provided, false information or
refuse to provide information we require for Identity Verification and/or EDD.
You accept
and agree that there may be delays in accessing your iMoney Xchange Account, or
in carrying out transactions through your iMoney Xchange Account, while we
undertake any Identity Verification and/or EDD procedures.
Retention
of information. iMoney Xchange is required to retain
certain information and documentation obtained as part of the Identity
Verification and EDD procedures. These requirements apply even when you have
terminated your relationship with iMoney Xchange. We reserve the right to keep
such information and documentation for the required period and you accept and
agree that information and documentation you provide to iMoney Xchange may be
retained by us, including following the closure of your iMoney Xchange Account.
7.
The iMoneyXchange
wallet
The iMoney Xchange
Wallet allows you to send, receive and store cryptocurrency (together, “iMoney
Xchange Wallet Transactions”).
Supported
Cryptocurrencies. The iMoney Xchange Wallet is
only available in relation to the cryptocurrencies that iMoney Xchange, in its
sole discretion, decides to support (“Supported Cryptocurrency” or “Supported
Cryptocurrencies”). Information about the Supported Cryptocurrencies can be
found on the Supported Crypto Currency page on the iMoney Xchange website.
The Supported Cryptocurrencies may change from time to time. Under no
circumstances should you attempt to carry out a iMoney Xchange Wallet
Transaction in relation to a cryptocurrency other than a Supported
Cryptocurrency. In particular, but without limiting the generality of the
foregoing, you accept and agree that you will have no access, entitlement or
claim:
o
to any cryptocurrency sent to a
receive address associated with your iMoney Xchange Wallet where that
cryptocurrency is not a Supported Cryptocurrency; or
o
to any cryptocurrency sent to a
receive address associated with your iMoney Xchange Wallet, where that receive
address is associated with another cryptocurrency. For example, you will have
no access, entitlement or claim to any Bitcoin Cash (BCH) sent to a Bitcoin
(BTC) receive address.
Supplemental
Protocols Excluded. Unless specifically announced on
the iMoney Xchange Site or other official public statement of iMoney Xchange,
Supported Cryptocurrencies exclude all other protocols and/or functionality
which supplement or interact with the Supported Cryptocurrency. This exclusion
includes (without limitation): metacoins, colored coins, side chains, or other
derivative, enhanced, or forked protocols, tokens, or coins or other
functionality, such as staking, protocol governance, and/or any smart contract
functionality, which may supplement or interact with a Supported
Cryptocurrency. You acknowledge that you should not use your iMoney Xchange
Account to attempt to receive, request, send, store, or engage in any other
type of transaction or functionality involving any such protocol as iMoney Xchange
is not configured to detect, secure, or process these transactions or functionality.
Any attempted transactions in such items will result in loss of the relevant
item. You acknowledge and agree that supplemental protocols are excluded from
Supported Cryptocurrency and that iMoney Xchange shall bear no liability for
any losses related to supplemental protocols.
Local
Currency deposited to acquire a credit in your iMoney Xchange Wallet. Local
Currency deposited into a iMoney Xchange bank account in order to acquire a
credit in your iMoney Xchange Wallet (see Deposits) may be utilised solely for
(1) the purchase of Supported Cryptocurrencies and/or (2) Withdrawal to an
approved bank account (see Withdrawals). In certain countries we may also
allow you to purchase specific goods and/or services from selected third
parties using the credit reflected in your iMoney Xchange Wallet. You accept
and agree that any such purchase will be subject to these Terms.
Proceeds
from the sale of Supported Cryptocurrencies will increase the credit in your iMoney
Xchange Wallet, less any applicable fees (as explained in Fees, and on the Fees
page of the iMoney Xchange website). No interest can accrue on the credit
reflected in your iMoney Xchange Wallet. Any Local Currency Deposited into a iMoney
Xchange bank account for purposes of acquiring a credit in your iMoney Xchange
Wallet, may accrue interest in favour of iMoney Xchange. You accept and agree
that you have no claim or entitlement to any such interest earned by iMoney Xchange
Transaction
instructions. iMoney Xchange will process iMoney Xchange
Wallet Transactions according to your instructions. You accept and agree that iMoney
Xchange does not:
Funds
received in error. In the event you know, suspect, or
should reasonably know or suspect, that any Local Currency has been deposited
into a iMoney Xchange bank account or cryptocurrency has been credited to your iMoney
Xchange Wallet (or to any bank account) in error, you must immediately notify iMoney
Xchange of the error by submitting a ticket through the Help Center. You
accept and agree that you have no claim or entitlement to any Local Currency or
cryptocurrency received in error, and must immediately return such funds in
accordance with the instructions received from iMoney Xchange.
o
guarantee the identity of any user,
receiver, or other party to a iMoney Xchange Wallet Transaction. You are solely
responsible for ensuring all transaction details are correct, and you should
carefully verify all transaction information prior to submitting transaction
instructions to iMoney Xchange;
o
have any control over, or any
liability in relation to, the delivery, quality or any other aspect of any
goods or services that you may buy from or sell to any third party. iMoney Xchange
shall not be responsible for, and will take no action in relation to, ensuring
that any buyer or seller you transact with using your iMoney Xchange Wallet
completes the relevant transaction or has the requisite authority to do so.
Receiving
cryptocurrency. You may receive Supported
Cryptocurrency into your iMoney Xchange Wallet by providing the sender with a
receive address generated in your iMoney Xchange Wallet. Your iMoney Xchange
Wallet will only be credited with Supported Cryptocurrency sent to a receive
address generated through your iMoney Xchange Wallet and associated with that
Supported Cryptocurrency. For example, your iMoney Xchange Wallet will be
credited with ETH when it is sent to an ETH receive address generated through
your iMoney Xchange Wallet.
Funds
received in error. In the event you know,
suspect, or should reasonably know or suspect, that any Local Currency or
cryptocurrency has been credited to your iMoney Xchange Wallet (or to any bank
account) in error, you must immediately notify iMoney Xchange of the error by
submitting a ticket through the Help Center You accept and agree that you
have no claim or entitlement to any Local Currency or cryptocurrency received
in error, and must immediately return such funds in accordance with the
instructions received from iMoney Xchange.
8.
Deposits
Where your
identity has been verified (in accordance with the Identity Verifcation requirements),
you acquire credit for your iMoney Xchange Wallet by depositing Local Currency
into a iMoney Xchange bank account (a “Deposit”). When you make a Deposit you
are giving up ownership of the Local Currency which you have deposited in
favour of iMoney Xchange. In return you will receive, subject to these Terms, a
credit in your iMoney Xchange Wallet which represents a right against iMoney Xchange
to (i) repayment of an amount equal to the credit in your iMoney Xchange Wallet
when you instruct iMoney Xchange that you wish to terminate your account; or
(ii) require iMoney Xchange to pay to the seller of Supported Cryptocurrency an
amount equal to the purchase price of any Supported Cryptocurrency which you
have purchased in reduction of the credit in your iMoney Xchange Wallet.
Details of
the iMoney Xchange bank account into which you must make the Deposit will be
provided to you by iMoney Xchange, and any such bank account will be held and
operated by a iMoney Xchange operating entity in your country or region (for
more information on these entities, see the Company Information page on thei Money
Xchange website). You accept and agree that any information you provide to iMoney
Xchange may be shared with such local entity, which will process Local Currency
transactions in accordance with iMoney Xchange’s instructions.
The payment
methods by which you may Deposit Local Currency will depend upon the country
you are in, and are set out on the Fees page of the iMoney Xchange website
(for the purposes of these Terms, the “Supported Deposit Methods”). Where you
have made a Deposit using a Supported Deposit Method, and have adhered to the
Deposit Requirements (explained below), your Deposit will purchase credit to be
allocated to your iMoney Xchange Wallet.
Due to legal
and operational constraints, you must strictly adhere to the following Deposit
requirements (the “Deposit Requirements”):
o
you may only make a Deposit from a
Supported Deposit Method held in your own name. You must not allow any third
party to make a Deposit on your behalf in order to acquire credit for your iMoney
Xchange Wallet;
o
you may only Deposit Local Currency
using a Supported Deposit Method compatible with the deposit methods available
in your country or region;
o
except in the case of a SEPA
transfer, you may only make Deposits denominated in the Local Currency
associated with your iMoney Xchange Wallet. For example, if you have a ZAR
wallet, you must only make Deposits in South African Rand;
o
where you make a Deposit using a
credit or debit card, you authorize iMoney Xchange to facilitate the debiting
of the funds from your bank account in order to complete the Deposit;
o
you must not use cash or cheques to
make a Deposit. iMoney Xchange reserves the right to refuse any Deposit made by
cash or cheque. Should iMoney Xchange decide, in its sole discretion, to allow
a Deposit by cash or cheque on an exceptional basis, the allocation of credit acquired
with such Deposit will be delayed to allow fraud and compliance checks to take
place, and a Cash Deposit Penalty (see the Fees page of the iMoney Xchange
website) may be deducted from it. If you make more than one cash or cheque
deposit into a iMoney Xchange bank account, iMoney Xchange may, in it’s sole
discretion, suspend your iMoney Xchange Account indefinitely.
You agree to
abide by the Deposit Requirements and agree and accept that failure to do so
may cause delay in or failure of any credit acquired with the Deposit
reflecting in your iMoney Xchange Wallet, and/or restriction, suspension or
termination of your iMoney Xchange Account.
Allocation
of deposits. When you request to make a
Deposit to acquire credit through your iMoney Xchange Wallet, you will be
provided with a Reference Number or Unique Deposit Amount. To permit timely and
successful allocation of credit acquired with your Deposit to your iMoney Xchange
Wallet, you must use the Reference Number or Unique Deposit Amount when you
make a deposit using a Supported Deposit Method. iMoney Xchange will not be
responsible for any delay in or non-allocation of credits acquired with
Deposits to your iMoney Xchange Wallet where you fail to specify the required
Reference Number or Unique Deposit Amount.
Credit
acquired with Deposits may take time to reflect in your iMoney Xchange Wallet
due to bank processing times, operational processes, and/or failure by you to
adhere to the Deposit Requirements. Under no circumstances will iMoney Xchange
have any liability to you in relation to any delay in or failure of credit
reflecting in your iMoney Xchange Wallet.
iMoney
Xchange will make all reasonable efforts to allocate credit in respect of
Deposits that do not meet the Deposit Requirements. However, any Deposits less
than the Minimum Unallocated Deposit Amount that cannot be allocated within a
one month period will be retained by iMoney Xchange and you accept and agree
that you shall not receive any credit in your iMoney Xchange Wallet in respect
of such amount and shall have no further claim or entitlement to such funds.
The Minimum Unallocated Deposit Amount shall until otherwise determined by iMoney
Xchange be USD10.00 or the equivalent in your Local Currency.
9.
Withdrawals
Where you
have added your bank account details to your iMoney Xchange Account, you may
request a withdrawal of funds in reduction of the credit in your iMoney Xchange
Wallet to your bank account (a “Withdrawal”).iMoney Xchange will process
Withdrawals in accordance with your instructions. You are solely responsible
for ensuring that any Withdrawal instructions provided to iMoney Xchange,
including the relevant bank account number, are complete and correct and you
accept and agree that under no circumstances will iMoney Xchange be under any
obligation to reverse or amend any Withdrawal.
iMoney
Xchange will make all reasonable efforts to process Withdrawals each business
day, in accordance with the Deposit and Withdrawal Schedule on the iMoney Xchange
website, but you accept and agree that iMoney Xchange provides no guarantee in
relation to the Withdrawal processing period.
iMoney
Xchange will make all reasonable efforts to process requests for Withdrawals
each business day, in accordance with the Deposit and Withdrawl Schedule on
the iMoney Xchange website, but you accept and agree that iMoney Xchange
provides no guarantee in relation to the Withdrawal processing period.
Withdrawals
to the bank account of any third party are expressly prohibited. You agree not to make, or attempt to make, any
Withdrawal of funds in reduction of the credit in your iMoney Xchange Wallet to
the bank account of a third party and accept that any such request for
Withdrawal may be refused and/or result in the restriction, suspension or
termination of your iMoney Xchange Account.
10.
Instant buy
or sell
iMoney
Xchange Wallet holders may use the Instant Buy or Sell service to buy or sell a
chosen amount of Supported Cryptocurrency at the quoted exchange rate.
In using the
Instant Buy or Sell service, you accept and agree that:
o
When you make an Instant Buy or Sell
order, iMoney Xchange will match your order with open orders on the iMoney Xchange
Exchange or other cryptocurrency exchanges available to us. iMoney Xchange will
facilitate the trade, in accordance with your instructions;
o
iMoney Xchange is not acting as your
broker, intermediary, agent, adviser or in any fiduciary capacity in relation
to an Instant Buy or Sell transaction, and no information or communication
provided to you by iMoney Xchange in relation to an Instant Buy or Sell
transaction will constitute advice;
o
when you place an order to buy or
sell Supported Cryptocurrency, we will provide you with a quoted exchange rate.
iMoney Xchange is unable to, and will not, specify the percentage of the quoted
exchange rate that reflects iMoney Xchange’s facilitation of the relevant
trade, as it will vary with market conditions. The quoted exchange rate may
differ from rates seen elsewhere on the iMoney Xchange site, or on external
sources, and you acknowledge that the quoted exchange rate is the rate that
will apply to your order;
o
By proceeding with your Instant Buy
or Sell transaction, you confirm that you accept the quoted exchange rate,
including its components;
o
a volume limit per transaction will
apply to any Instant Buy or Sell order (see the Fees page of the iMoney Xchange
website); and
o
iMoney Xchange does not guarantee
the availability of, or that there will be no delays or interruptions in or to,
the Instant Buy or Sell service.
Before
confirming any Instant Buy or Sell transaction, you must ensure that the amount
of Supported Cryptocurrency to be bought or sold is correct and that you agree
to the quoted exchange rate. iMoney Xchange cannot reverse an executed order.
iMoney Xchange
reserves the right to delay or refuse any Instant Buy or Sell transaction if,
in our sole discretion, we perceive there to be a risk of fraud or illegal
activity, or where we have reasonable grounds on which to suspect an error may
have been made. iMoney Xchange shall have no liability to you in connection with
any delay in or non-completion of an Instant Buy or Sell transaction.
11.
The iMoneyXchange
Platform
The iMoneyXchange
platform is an order book exchange platform for cryptocurrencies that is
intended for use by customers with experience in and/or knowledge of similar
platforms. Any person using iMoney Xchange does so entirely at their own risk.
The iMoney Xchange
platform is not offered to customers in all jurisdictions. This section of the
Terms applies to you if you access and/or use iMoney Xchange. In accessing and/or using iMoney
Xchange for any purpose, you agree and
accept that:
o
all trades executed on the iMoney Xchange
platform are executed automatically, based on the parameters of your order
instructions, and cannot be reversed. In the case of technical issues affecting
iMoney Xchange’s internal systems, iMoney Xchange may, where possible and in
its sole discretion, take steps to reverse or otherwise amend a trade;
o
all trading on the iMoney Xchange platform
is subject to iMoney Xchange’s fee structure, as set out on the Fees page
of the iMoney Xchange website. By using iMoney Xchange, you accept and agree to
all applicable fees;
o
iMoney Xchange makes no guarantee
that the iMoney Xchange platform will be available without interruption; that
there will be no delays, failures, errors, omissions or loss of transmitted
information; or that any order will be executed, accepted, recorded, or remain
open.
iMoney
Xchange may, at any time and in our sole discretion, refuse any trade, impose
limits on the trade amount permitted, or impose any other conditions or
restrictions upon your use of iMoney Xchange that we deem necessary. We may,
for example, limit the number of open orders that you may establish or restrict
trades from certain locations. iMoney Xchange reserves the right to take such
action without prior notice.
12.
Fees
The fees
applicable to transactions undertaken on the iMoney Xchange Site can be viewed
on the Fees page of the iMoney Xchange website. iMoney Xchange reserves
the right to change our fees at any time and will update the Fees page
accordingly. In certain circumstances, and at our sole discretion, iMoney Xchange
may notify selected customers of a specific fee change, where we consider a
change to be of particular relevance to such customers.
Send
and Receive fees. You may be charged a fee to
send Supported Cryptocurrency from your iMoney Xchange Wallet and/or to receive
Supported Cryptocurrency into your iMoney Xchange Wallet. Fees will apply where
Supported Cryptocurrency is sent to or received from a Supported Cryptocurrency
address (e.g. a Bitcoin address); no fees will apply where Supported
Cryptocurrency is sent to or received from a mobile telephone number or email
address. Please see the Fees page of the iMoney Xchange website for
further information on send and receive fees.
Deposit
and Withdrawal fees. All requests for Withdrawals
from your iMoney Xchange Wallet will incur a fee. Such fees differ by country
and are set out on the Fees page of the iMoney Xchange website. Some Deposits made
to acquire credit in your iMoney Xchange Wallet using a Supported Deposit
Method may incur a fee, as set out on the Fees page. Such fees will be
displayed in your transaction history upon completion of the transaction.
Instant
Buy and Sell fees. The quoted exchange rate in
relation to any buy or sell order placed using the Instant Buy and Sell service
will include an amount to reflect iMoney Xchange’s facilitation of the relevant
trade, the percentage of which will vary with market conditions (see Instant
buy or Sell ).
Trade
fees. iMoney Xchange applies a Maker /
Taker fee structure for customers using the iMoney Xchange platform, which is
explained in the iMoney Xchange Help Center. Please consult the Fees page
of the iMoney Xchange website for further information on applicable Maker and
Taker fees. iMoney Xchange will, at the time of any transaction on the iMoney Xchange
Exchange, notify you of any fees that will apply to the transaction. By
proceeding with any transaction, you accept and agree to the applicable fees.
Such fees will also be displayed in your transaction history upon completion of
the transaction.
13.
Account
security
iMoney
Xchange takes security very seriously and the measures we have in place to
protect your iMoney Xchange Account are explained on the Security Page of
the iMoney Xchange website. However, you are solely responsible for:
o
maintaining adequate security and
control over your iMoney Xchange Account sign-in details, including but not
limited to any passwords, personal identification numbers (PINs), API keys, or
any other codes associated with your iMoney Xchange Account;
o
enabling any additional security
features available to you, including the activation of two factor
authentication on your iMoney Xchange account (see the iMoney Xchange Help
Center);
o
keeping your contact details up to
date so that you can receive any notices or alerts we may send to you in
relation to security (see Electronic Communications);
o
maintaining security and control
over the email mailbox, phone number and two-factor authentication applications
or devices associated with your iMoney Xchange Account.
Failure to take
the above measures, and any other security measures available to you, may
result in unauthorised access to your iMoney Xchange Account and the loss or
theft of any cryptocurrency held in your iMoney Xchange Wallet or any linked
bank account(s) and/or saved credit or debit card(s).iMoney Xchange shall have
no liability to you for or in connection with any unauthorised access to your iMoney
Xchange Account, where such unauthorised access was due to no fault of iMoney Xchange,
and/or any failure by you to act upon any notice or alert that we send to you.
The security
of your iMoney Xchange Account may be compromised, or interruption caused to
it, by phishing, spoofing or other attack, computer viruses, spyware,
scareware, Trojan horses, worms or other malware that may affect your computer
or other equipment. iMoney Xchange strongly recommends that you regularly use
reputable virus screening and prevention software and remain alert to the fact
that SMS, email services and search engines are vulnerable to spoofing and
phishing attacks.
Care should
be taken in reviewing messages purporting to originate from iMoney Xchange and,
should you have any uncertainty regarding the authenticity of any
communication, you should log in to your iMoney Xchange Account through the iMoney
Xchange website (specifically, www.imoneyxchange.com), and not any other
domain name or website purporting to be, or to be related to, iMoney Xchange)
to review any transactions or required actions.
To the
maximum extent permitted by applicable law, you accept and agree that you have
full responsibility for all activity that occurs in or through your iMoney Xchange
Account and accept all risks of any unauthorised or authorised access to your iMoney
Xchange Account.
Private
keys. iMoney Xchange securely stores all
Supported Cryptocurrency private keys (“Private Keys”) associated with any iMoney
Xchange Account. You accept and agree that iMoney Xchange shall retain full
ownership and control of the Private Keys associated with your iMoney Xchange
Account and that you shall have no control of, access to, or the ability to
use, such Private Keys. For example, but without limiting the generality of the
foregoing, iMoney Xchange will not:
o
accept or adhere to any instruction
to sign any data with a Private Key;
o
give access to any funds associated
with your private keys, other than those of the Supported Cryptocurrency
associated with your cryptocurrency wallet;
o
allow the creation of any receive
addresses associated with a Private Key other than receive addresses created
through your iMoney Xchange Wallet. iMoney Xchange will not credit to youri Money
Xchange Wallet any cryptocurrency associated with a Private Key other than
where such funds have been received via a receive address generated through
your iMoney Xchange Wallet.
14.
Service
availability
While we
will do everything we can to provide continuous operations, iMoney Xchange does
not provide any warranty in relation to the availability of the iMoney Xchange
Site or your iMoney Xchange Account. Without limiting the generality of the
foregoing, we do not guarantee continuous access to the iMoney Xchange Site or
your iMoney Xchange Account and make no representation that the iMoney Xchange
Site, iMoney Xchange API, your iMoney Xchange Account and/or any products or
services offered therein will be available without interruption; or that there
will be no delays, failures, errors, omissions or loss of transmitted
information.
15.
Transactions
on cryptocurrency networks
When you use
your iMoney Xchange Account to send or receive cryptocurrency, the transaction
must be confirmed and recorded in the public ledger associated with the
relevant cryptocurrency network (e.g. the Bitcoin network or the Ethereum
network). That cryptocurrency network is solely responsible for verifying and
confirming any such transactions. iMoney Xchange cannot confirm, cancel or
reverse transactions on a cryptocurrency network, other than confirming to you
that the network has completed the transaction. You accept and agree that:
o
Once submitted to a cryptocurrency
network, a transaction will be unconfirmed for a period of time pending
sufficient confirmation of the transaction by the network. A transaction is not
complete while it is in a pending state. Funds associated with transactions
that are in a pending state will be designated accordingly, and will not be
included in your iMoney Xchange Wallet balance or be available to you to
conduct transactions;
o
When you send cryptocurrency from
your iMoney Xchange Account, you are authorising us to submit your transaction
request to the relevant cryptocurrency network. Once a transaction request has
been submitted to the relevant cryptocurrency network, the network will
automatically complete or reject the request and neither you or iMoney Xchange
will be able to cancel or otherwise modify your transaction.
o
Cryptocurrency networks are operated
by decentralised networks of independent third parties. They are not owned,
controlled or operated by iMoney Xchange so we cannot ensure that any
transaction details you submit will be confirmed by the relevant cryptocurrency
network. You agree that any transaction details you submit may not be
completed, or may be substantially delayed, by the cryptocurrency network used
to process the transaction.
Network
protocols and operating rules. The
underlying software protocols that govern the operation of the Supported
Cryptocurrencies are open source. Accordingly, anyone can use, copy, modify,
and distribute them and iMoney Xchange has no ownership of or control over
these protocols. By using the iMoney Xchange Site, you accept and agree that:
o
iMoney Xchange is not responsible
for the operation of any cryptocurrency network’s underlying software protocols
and makes no guarantee as to their availability, security, or functionality;
o
the underlying software protocols
are subject to sudden changes in operating rules (known as “forks”), and that
such forks may materially affect the value, function, and/or name of any
cryptocurrency you store in your iMoney Xchange Account. Should a fork occur, iMoney
Xchange may, with or without notice to you, temporarily suspend our operations
and, in our sole discretion, decide whether or not to support either branch of
the forked protocol entirely; and
o
in the event iMoney Xchange decides
not to support a branch of a forked protocol, you will not be given access to
the assets on that fork. Those assets will be securely held by iMoney Xchange
and we will not buy or sell them.
16.
Account
inactivity
Credit in
your iMoney Xchange Wallet may only be reduced by the purchase of Supported
Cryptocurrencies and/or a request for Withdrawal to an approved bank account
(see The iMoney Xchange Wallet). You must not use your iMoney Xchange Wallet to
store credit. Where any credit in your iMoney Xchange Wallet is not used for a
period exceeding three months, iMoney Xchange may charge and obtain from you an
Inactivity Fee of USD2.00 per month (or the equivalent in your Local Currency),
which shall be debited against the credit in your iMoney Xchange Wallet. Should
we have reasonable grounds on which to suspect you are using your iMoney Xchange
Wallet primarily for the purpose of storing credit, iMoney Xchange reserves the
right to restrict, suspend or terminate your iMoney Xchange Account.
Unclaimed
property. In the event there is a credit
in your iMoney Xchange Wallet(s) and iMoney Xchange has no record of any use of
your iMoney Xchange Account for several years, and we are unable to contact
you, the law in your jurisdiction may require us to report and deliver such
funds to the relevant authorities as unclaimed property. To the extent
permitted by applicable law, iMoney Xchange reserves the right to deduct a
dormancy fee or other administrative charges against such unclaimed credit.
17.
Closure of
your account
You may
close your iMoney Xchange Account by submitting a closure request via
the Help Centre. iMoney Xchange will action such requests once (i) the credit
and cryptocurrency balances in your iMoney Xchange Wallet(s) is below the
Minimum Closure Amount; and (ii) no transactions have taken place in your iMoney
Xchange Account for a period of at least 30 days. Such requirements are designed
to protect you from loss and iMoney Xchange will not action a closure request
until they are satisfied.
You accept
and acknowledge that, once your iMoney Xchange Account is closed:
o
you will have no further access to
it;
o
iMoney Xchange will be under no
obligation to notify you of, or provide to you, any cryptocurrency sent to any
receive address associated with your iMoney Xchange Account; and
o
iMoney Xchange reserves the right
(but has no obligation) to delete all of your information and account data
stored on our servers, and also reserves the right to retain any information
that is required for legal or operational reasons.
If at the
date of closure of your account any credit or cryptocurrency remains in your iMoney
Xchange Wallet(s) (i.e. credit amounting to less than the Minimum Closure
Amount), you accept and agree that iMoney Xchange shall retain such credit and
that you shall have no further claim to them. The Minimum Closure Amount shall
be credit equal to USD10.00 or the equivalent in your Local Currency.
You accept
and agree that iMoney Xchange shall not be liable to you or any third party in
relation to the closure of your iMoney Xchange Account, the termination of
access to your iMoney Xchange Account, or for the deletion of your information
or iMoney Xchange Account data.
18.
Restriction,
suspension and termination
iMoney
Xchange reserves the right to restrict, suspend or terminate your iMoney Xchange
Account where:
o
we reasonably suspect your iMoney Xchange
Account to be the subject of an operational or other error, in which case we
may be required to suspend access to your account until such time as the error
is rectified;
o
we reasonably suspect your iMoney Xchange
Account has been or is being used in relation to any unlawful, fraudulent
or Prohibited Activity, or in breach of these Terms;
o
we reasonably suspect you or your iMoney
Xchange Account is or has been associated with, or poses a high risk of, money
laundering, financing of terrorism, fraud, or any other financial crime;
o
we reasonably suspect you of taking
any action that iMoney Xchange considers to be a circumvention of iMoney Xchange’s
controls, including but not limited to opening multiple iMoney Xchange
Accounts;
o
we reasonably suspect your
involvement in any attempt to gain unauthorised access to any iMoney Xchange
Account;
o
your iMoney Xchange Account is or
appears to be the subject of any legal, regulatory or government process and/or
we, in our sole discretion, consider there to be a heightened risk of legal or
regulatory non-compliance associated with your iMoney Xchange Account;
o
we are compelled to do so by a prima
facie valid subpoena, court order, or other binding order of a government or
regulatory authority; or
o
we reasonably conclude that you, or
any person or geography with whom you transact, are / is the subject of any
governmental sanctions.
iMoney Xchange
will make all reasonable efforts to provide you with notice of any decision to
restrict, suspend or terminate your iMoney Xchange Account, unless we are
prevented from doing so by any legal or regulatory process or requirement, or
where doing so may compromise iMoney Xchange’s security and/or risk management
procedures. You accept and agree that iMoney Xchange is under no obligation to
disclose to you the fact of or reason for any decision to restrict, suspend or
terminate your iMoney Xchange Account, and shall have no liability to you in connection
with the restriction, suspension or termination of your iMoney Xchange Account.
Account
termination. Where iMoney Xchange elects to
terminate your iMoney Xchange Account in accordance with the above, we shall
(except where legally obligated not to) return your available cryptocurrency
and/or credit balance to you pursuant to the procedure set out below:
o
Cryptocurrency. If you have an available balance of Supported
Cryptocurrency in your iMoney Xchange Account above the Minimum Threshold, we
will liquidate the cryptocurrency and pay an amount equal to value realised
from the liquidation into your bank account, provided that we are satisfied
that such bank account is valid and in your name. The Minimum Threshold is
USD10.00, or its equivalent in any applicable Supported Cryptocurrency calculated
on the day on which the liquidation is performed. We will not send your
Supported Cryptocurrency to an alternative cryptocurrency wallet address. Any
risk of a negative exchange rate fluctuation shall rest with you and you shall
have no claim against iMoney Xchange for any losses you may suffer as a result
of the liquidation of your available balance of Supported Cryptocurrency.
o
Local
Currency. We shall return to you an
amount no greater than the credit in your iMoney Xchange Account. Payment shall
only be made to you following submission to us of valid bank account details in
your name. We shall not transfer Local Currency to any bank account in the name
of a third party.
Death
of Account Holder. Should we receive legal
documentation confirming your death or any other information leading us to
believe that you have died, we reserve the right to restrict or suspend your iMoney
Xchange Account for security purposes and, during this time, for no
transactions to be completed until such time as: (i) we receive instructions
from your designated executor / fiduciary; or (ii) we receive proof in a form
satisfactory to us that you have not in fact died.
If we have
reason to believe you may have died but we do not have proof of your death in a
form satisfactory to us, you authorize us to make all inquiries as may be
necessary, whether directly or through third parties, in order to ascertain
whether or not you have died. Upon receipt by us of proof satisfactory to us that
you have died, the executor / fiduciary that you have designated in a valid
Will or similar testamentary document may instruct us in writing to: (i) sell
the applicable cryptocurrency for Local Currency and withdraw that Local
Currency to a bank account nominated in writing by the executor / fiduciary; or
(ii) transfer the applicable cryptocurrency to another cryptocurrency wallet
nominated in writing by the executor / fiduciary.
If you have
not designated an executor / fiduciary, then we reserve the right to treat as
your executor / fiduciary any person who is entitled to inherit your iMoney Xchange
Account under applicable law. iMoney Xchange reserves the right to demand all
documentation that we, in our sole and absolute discretion, may deem necessary
or appropriate in order to satisfy ourselves as to the identity and
authenticity of such person, including (but not limited to) an order
designating an executor / fiduciary from a court having competent jurisdiction
over your estate. In the event that we determine, in our sole and absolute
discretion, that there is uncertainty regarding the validity of the executor /
fiduciary designation, then we reserve the right to require an order resolving
such an issue from a court of competent jurisdiction before taking any action
relating to your iMoney Xchange Account.
19.
Use of iMoney
Xchange API
This section
19 applies to any use of iMoney Xchange’s Application Programming Interface and
any associated documentation or materials (together, the “IMoney Xchange API”,
see the iMoney Xchange API page of the iMoney Xchange website). Any use of
thei Money Xchange API is subject to this section and, for the avoidance of
doubt, the Terms in their entirety.
Any use of
the iMoney Xchange API is entirely at your own risk. It is your responsibility
to keep any API keys, passwords or other credentials relating to your use of
the iMoney Xchange API secure, and you accept and agree that you take full
responsibility for any and all requests made over the API, whether authorised
by you or not.
iMoney
Xchange sets and enforces limits on your use of the iMoney Xchange API (e.g.
limiting the number of requests per second). You accept and agree that any
circumvention of, or attempt to circumvent, these limits, or any use of the iMoney
Xchange API that may adversely affect other users of the iMoney Xchange Site,
may result in iMoney Xchange, at its sole discretion, revoking your API access.
Where market
data is provided to you through the iMoney Xchange API, you are not permitted
to redistribute or sell such data without the prior written consent of iMoney Xchange.
20.
Financial
Advice
Under no
circumstances does any information contained on the iMoney Xchange Site, or
provided to you through your iMoney Xchange Account or by any employee, agent
or affiliate of iMoney Xchange, constitute financial, investment or other
professional advice.
You are
solely responsible for any decision to store, buy or sell cryptocurrency, and
such decision should take into account your risk tolerance and financial
circumstances. For more information on the risks involved, see Risks and
the Risk Warning on the iMoney Xchange website. You should consult your
legal or tax professional in relation to your specific situation.
21.
Taxes
You are
solely responsible for determining whether, and to what extent, any taxes apply
to any transactions you carry out through your iMoney Xchange Account, and for
withholding, collecting, reporting and remitting the correct amounts of tax to
the appropriate tax authorities.
22.
Export
controls and sanctions
Your use of
the iMoney Xchange Site is subject to international export controls and
economic sanctions requirements. By undertaking any activity on the iMoney Xchange
Site or through your iMoney Xchange Account, including but not limited to
sending, receiving, buying, selling, storing or trading any cryptocurrency, you
agree that you will at all times comply with those requirements. In particular,
and without any limitation to the generality of the foregoing, you may not
open, use, or have access to any iMoney Xchange Account if:
o
you are in or under the control of,
or resident of, any country subject to United States embargo, UN sanctions, the
HM Treasury financial sanctions regime, or if you are on the U.S. Treasury
Department's Specially Designated Nationals List or the U.S. Commerce
Department's Denied Persons List, Unverified List, Entity List, or HM
Treasury's financial sanctions regime; or
o
you intend to supply any acquired or
stored cryptocurrency, or transact with people or businesses operating in any
country subject to United States embargo or HM Treasury's financial sanctions
regime, or to a person on the Specially Designated Nationals List, Denied
Persons List, Unverified List, Entity List, or HM Treasury's financial
sanctions regime.
23.
Prohibited
activities
You must not
use your iMoney Xchange Account to undertake any of the activities or
categories of activity set out in this section (each a “Prohibited Activity”):
o
violation of any laws, statutes,
ordinance or regulations;
o
undertaking, facilitating or
supporting criminal activity of any kind, including but not limited to, money
laundering, terrorist financing, illegal gambling operations or malicious
hacking;
o
abusive activity, including but not
limited to:
o
§ imposing an unreasonable or disproportionately large load on
iMoney Xchange’s infrastructure, or otherwise taking any action that may
negatively affect the performance of the iMoney Xchange Site or iMoney Xchange’s
reputation;
§ attempting to gain unauthorised access to the iMoney Xchange
Site or any iMoney Xchange Account;
§ transmitting or uploading any material to the iMoney Xchange
Site that contains viruses, Trojan horses, worms, or any other harmful
programmes; or
§ transferring your iMoney Xchange Account access or rights to
your iMoney Xchange Account to a third party, unless as required by law or with
iMoney Xchange’s prior consent.
o
paying in to or otherwise supporting
pyramid schemes, Ponzi schemes, matrix programmes, “get rich quick” schemes,
multi-level marketing programmes or high-yield investment programmes;
o
fraudulent activity, including but
not limited to taking any actions that defraud iMoney Xchange or a iMoney Xchange
customer, or the provision of any false, inaccurate, or misleading information
to iMoney Xchange;
o
transactions involving items that
may help facilitate or enable illegal activity; promote or facilitate hate,
violence or racial intolerance; are considered obscene; or may be stolen goods
or the proceeds of crime;
o
transactions involving TOR markets,
online gambling sites or mixers;
o
sale or purchase of narcotics or
controlled substances;
o
intellectual property infringement.
By opening a
iMoney Xchange Account, you confirm that you will not use your account to
undertake any of the above-listed Prohibited Activities or any similar or
related activity.
Activities
subject to the prior written approval of iMoney Xchange. Unless you have obtained the prior written approval of
iMoney Xchange, you accept and agree that you will not use your iMoney Xchange
Account to conduct or operate any of the following business activities or
categories of activity:
o
money services, including but not
limited to money or cryptocurrency transmission, currency or cryptocurrency
exchange or dealing, payment service providers, e-money or any other financial
services business;
o
gambling or gaming services;
o
charitable or religious / spiritual
organisations;
o
consumer lending services, including
but not limited to secured and unsecured loans, cash advances, payday lending;
o
investment funds, asset management,
or brokerage services.
We reserve
the right to restrict, suspend or terminate your iMoney Xchange Account if we
suspect, in our sole discretion, that you are using, or have used, your iMoney Xchange
Account in association with any of the activities listed above, or any similar
or related activity, without having obtained the prior written approval of iMoney
Xchange.
24.
Disclaimer
of warranties
The iMoney Xchange
Site, your iMoney Xchange Account and any related products or services are
offered on a strictly “as-is” and “where-available” basis and iMoney Xchange
expressly disclaims, and you waive, all warranties of any kind, whether express
or implied. Without limiting the generality of the foregoing, the iMoney Xchange
Site, your iMoney Xchange Account, and any related products or services are
offered without any warranty as to merchantability or fitness for any
particular purpose.
Some
jurisdictions do not allow the disclaimer of implied terms in consumer
contracts, so some or all of the disclaimers in this section may not apply to
you.
25.
Limitation
of liability
In no event
shall iMoney Xchange, its operating entities or any other affiliates (including
their respective directors, members, employees or agents) be liable to you for
any direct, indirect, special, consequential, exemplary or punitive damages or
any other damages of any kind, including but not limited to loss of profit,
loss of revenue, loss of business, loss of opportunity, loss of data, whether
in contract, tort or otherwise, arising out of or in any way connected with
your use of, inability to use, or unavailability of the iMoney Xchange Site
and/or your iMoney Xchange Account, including without limitation any damages
caused by or resulting from any reliance upon any information received from iMoney
Xchange, 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 unauthorised access to iMoney
Xchange’s records, programmes or services.
In no event
will any liability of iMoney Xchange, its operating entities or any other
affiliates (including their respective directors, members, employees or agents)
arising in relation to your use of the iMoney Xchange Site or your iMoney Xchange
Account, exceed (in aggregate) the fees earned by iMoney Xchange in connection
with your use of your iMoney Xchange Account in the six month period
immediately preceding the event giving rise to the claim for liability.
The above
limitations of liability shall apply to the fullest extent permitted by law in
the applicable jurisdiction. Because some jurisdictions do not allow the
exclusion of certain warranties or the limitation or exclusion of liability for
incidental or consequential damages, some of the limitations in this section
may not apply to you.
26.
Indemnity
To the
maximum extent permitted by law, you agree to indemnify iMoney Xchange, its
operating entities or any other affiliates (including their respective
directors, members, employees and/or agents) against any action, liability,
cost, claim, loss, damage, proceeding or expense suffered or incurred directly
or indirectly arising from your use of or conduct in relation to the iMoney Xchange
Site and/or your iMoney Xchange Account, or from your violation of these Terms.
27.
USDC
You may
elect to purchase or sell USD Coin ("USDC") through iMoney Xchange.
USDC is governed by Centre, a membership-based consortium founded by Circle
Internet Financial Limited (“Circle”) that sets technical, policy and financial
standards for USDC (“Centre”). By acquiring USDC, you acknowledge that you will
become the owner of the balance held in your USDC wallet and that, accordingly,
you agree to abide by any rules or technical standards set by Centre and/or the
applicable USDC issuer, including (without limitation) the Circle USDC. For the
avoidance of doubt ,iMoney Xchange is not the issuer of USDC, does not hold US
Dollars on reserve for USDC holders, and has no obligation to repurchase or
redeem your USDC for any fiat currency. Any redemption of USDC should be done
against the issuer directly. iMoney Xchange reserves the right to change,
suspend, or discontinue any service in relation to USDC at any time, without
notice and without attracting any liability therefore.
28.
Repeat-Buy
You may
initiate recurring transactions to or from your iMoney Xchange Wallet(s) (“Repeat-Buy”).
If you initiate a Repeat-Buy, you acknowledge and undertake that:
o
your Repeat-Buy transaction will be
executed at the prevailing market price offered on the iMoney Xchange Exchange
at the time that we execute the relevant Repeat-Buy order;
o
you authorize us to initiate
recurring electronic payments against the credit in your iMoney Xchange Wallet
in accordance with your selected Supported Cryptocurrency and any corresponding
Supported Deposit Method, such as debiting of the funds from your bank account
or other payment account and consequentially increasing the credit in your iMoney
Xchange Wallet to fund the purchase of your selected Supported Cryptocurrency
in accordance with your Repeat Buy. Your Repeat-Buy transaction will occur in
identical, periodic installments, based on your selection (e.g. daily, weekly,
monthly), until either you or iMoney Xchange cancels the Repeat Buy;
o
where you have set up Repeat-Buy to
execute against the credit in your iMoney Xchange Wallet, the Repeat-Buy
transaction will be executed against the positive credit balance available in
your applicable iMoney Xchange Wallet (i.e. this does not include any credit
which is provisioned for any open orders on the iMoney Xchange exchange) (“Available
Credit”) . You must ensure that you have sufficient Available Credit in
your iMoney Xchange Wallet to pay for your Repeat-Buy on the scheduled payment
date;
o
if any Repeat-Buy fails 3 (three)
consecutive times, then we shall have the right to cancel or pause your
Repeat-Buy; and
o
we may charge you a Repeat-Buy fee
which will be charged in addition to any other fees and costs listed on our
Fees page.
29.
Disputes
You and we
agree to notify the other party in writing of any claim or dispute that arises
in relation to the iMoney Xchange Site, your iMoney Xchange Account or these
Terms, within 30 days of such claim or dispute arising. You and we further
agree to attempt informal resolution of any Dispute prior to bringing a claim
in any court or other body.
Governing
law and jurisdiction. This agreement shall be
governed by and construed in accordance with South African law. You and we
agree to submit all disputes, claims or controversies (including
non-contractual Disputes, claims or controversies) arising out of or in
connection with these Terms, or the breach, termination, enforcement or
interpretation thereof (together, Disputes), to the non-exclusive jurisdiction
of the courts of South Africa.
Class
or representative action waiver. To
the maximum extent permissible by law, you and iMoney Xchange each agree that
each may bring any Dispute against the other only in your or its individual
capacity, and you and it waive any right to commence or participate in any
class action or other representative action or proceeding against the other.
Further, where permissible by law, unless both you and iMoney Xchange agree
otherwise, no court may consolidate any other person’s claim(s) with your
Dispute, and may not otherwise preside over any form of representative or class
proceeding.
For the
avoidance of doubt, if this Class or representative action waiver is found by
any court of competent jurisdiction to be invalid, void or unenforceable, the
remainder of this Disputes clause shall remain valid and enforceable.
30.
Miscellaneous
Entire
agreement. These Terms constitute the
entire agreement and understanding between you and iMoney Xchange with respect
to their subject matter and supersede any and all prior discussions, agreements
and understandings of any kind between you and iMoney Xchange (including but
not limited to any prior versions of these Terms).
Severability. If any provision of these Terms, as amended from time
to time, is determined to be illegal, invalid or unenforceable, in whole or in
part, under any law, such provision or part thereof shall to that extent be
deemed not to form part of these Terms but the legality, validity and
enforceability of the other provisions in these Terms shall not be affected and
everything else in these Terms will continue in full force and effect.
In the event
any provision or part thereof of these Terms is determined to be illegal,
invalid or unenforceable, that provision or part thereof shall be replaced by
the parties with a legal, valid and enforceable provision or part thereof that
has, to the greatest extent possible, a similar effect as the illegal, invalid
or unenforceable provision, given the content and purpose of these Terms.
Assignment. You may not assign or transfer any of your rights or
obligations under these Terms without iMoney Xchange’s prior written approval.
You give iMoney Xchange your approval to assign or transfer these Terms in
whole or in part, including but not limited to: (i) a parent company,
subsidiary, affiliate, or other “group company” (“Group company” shall, in this
context, refer to any entity which is under common control with iMoney Xchange,
and “control” in this context refers to the direct or indirect ability to
exercise a majority of the voting rights in such an entity); (ii) an acquirer
of iMoney Xchange’s equity, business or assets; or (iii) a successor by merger.
Change
of control. In the event that iMoney Xchange
is acquired by or merged with a third party, we reserve the right to transfer
or assign the information we have collected from you as part of such merger,
acquisition, sale, or other change of control.
Force
Majeure. iMoney Xchange shall not be liable
for any delays, failure in performance or interruption of service which result
directly or indirectly from any cause or condition beyond our reasonable
control, including but not limited to, any delay or failure due to any act of
God, act of civil or military authorities, act of terrorists, civil
disturbance, war, strike or other labour dispute, fire, interruption in
telecommunications or Internet services or network provider services, failure
of equipment and/or software, other catastrophe or any other occurrence which
is beyond our reasonable control.
Survival. All provisions of these Terms that by their nature
extend beyond the expiry or termination of these Terms, including but not
limited to, sections relating to the suspension or termination of your iMoney Xchange
Account, use of the iMoney Xchange Site, disputes with iMoney Xchange and
general provisions, shall survive the termination of these Terms.
Headings. Section headings in these Terms are for convenience
only, and shall not govern the meaning or interpretation of any provision of
these Terms.
English
language controls. Notwithstanding any other
provision of these Terms, any translation is provided solely for your
convenience. The meanings of terms, conditions and representations herein are
subject to definitions and interpretation in the English language. Any translation
provided may not accurately represent the information in the original English.