These Terms are legally binding, therefore, if you do not agree to these Terms, please do not use our Services. The Terms of Service are subject to change or modification with time. These changes will be made at our discretion and we will duly notify you of the changes through a notice on our website, an email to your registered email address, and by changing the Last Updated date at the top of this Agreement. The updated or revised Terms of Service will take effect immediately after its publication or transmission and will be applicable to all the then existing and future customers. If you continue to use this Website after the revision in Terms, it will be inferred as your acceptance of the updated Terms of Service. If you do not agree to the updated Terms, you must stop using the Services. The English language version of these terms shall prevail in case of variations, ambiguity or conflicts in translations to other languages. The abbreviations AML and CTF used henceforth shall denote Anti-Money Laundering and Counter-Terrorist Financing respectively.
You must be at least 18 years old to use the Services of Beldex and not have formerly been banned, suspended or restricted. By using our Services, you warrant that you are at least 18 years old or of legal age as applicable under relevant laws and not on any Sanctions Lists such as the United Nations Security Council Sanctions List. You represent and warrant that you will not use the Website and its Services for any illegal activities including without limitation money-laundering, blackmailing, data extortion, financing of terrorism and other unlawful prohibited activities including without limitation those listed under Section 5b) (“Restricted activities”).
We prohibit the use of all or a portion of the Services by anyone who is a citizen of, residing in, in control of or are an agent of the United States of America (including all U.S. territories such as American Samoa, Guam Island, Puerto Rico, the U.S. Virgin Islands, Northern Mariana Islands), Pakistan, Cuba, Syria, Iran, Sudan and North Korea, which at this time are deemed restricted countries. (the “Restricted countries”). Beldex reserves the sole right to deny services to the Restricted countries and choose the market and jurisdictions in which the Services can be used. The Terms of Service shall not be excluded from the laws of the regulatory authority governing the country or region in which the user resides or has citizenship.
Beldex provides (i) a peer-to-peer online digital currency trading platform where Users can trade digital assets (crypto-to-crypto) also known as cryptocurrencies, cryptographic tokens, digital tokens or Virtual Financial Assets (VFA) (referenced herein as “Digital Assets”), (ii) an order matching service where, based on a set criteria, the trades of the users are matched with open orders from other users, (iii) the user with instant services to change one type of Digital Asset to another (iv) Margin trading, lending and borrowing services.
Users buy and sell from each other on the platforms provided by Beldex and its Services and Beldex does not participate in any way directly or indirectly in such trading activities. Users may request the withdrawal of their Digital Assets subject to certain limitations as enclosed herein the Terms. Prior to the use of the Services, users must register with Beldex as explained in Section 3 of the Terms and must deposit Digital Assets.
Beldex also provides a digital wallet where Users can deposit, store, withdraw, and transfer their Digital Assets with other users. All Digital Assets deposited by you in your digital wallet shall be held and maintained by Beldex on your behalf in order to facilitate the faster transfer, depositions, and withdrawals. You shall be the sole proprietor or beneficiary of any and all Digital Assets in your wallet and Beldex shall be regarded as holding on to your assets on your behalf. Beldex will not make use of your Digital Assets unless otherwise lawfully directed by you and without your complete consent or prior authorization.
Beldex endeavours to maintain the accuracy of the information in the Services provided however it does not explicitly or implicitly guarantee the accuracy, correctness, stability, reliability, completeness, timeliness, suitability, performance, and/or fitness for purpose of the content of any Services made available through this Website and therefore will not be responsible or liable for any damages, risks and possible losses that you may incur through a delay or failure in transmission of information, notifications, receipts, or your failure to protect your account information and password, or through the general use of the Services.
The information available on the Services through the Website is subject to change without any due notice and is available solely to assist the Users to arrive at independent decisions out of their own free will. Beldex does not provide financial or investment advice and is not liable for interpretation of the use of the Services listed in this Agreement. The guarantees mentioned in the Terms of Service shall be the only guarantees offered by us in tandem with the Services provided and shall forego any other warranties arising from any other means, physical or electronic, in writing or words, expressed or implied directly or indirectly.
You acknowledge and authorize us to send commercial information to you via email, SMS, mobile notification, or mailing address. You can always opt-out of such information services by appropriately changing the relevant settings available on the Website. We strive to maintain the continuity, availability, and security of the Services however we cannot anticipate or make pre-emptive predictions to prevent the interruption of services in whole or in part due to governmental acts/amendments and/or regulations, hackers, viruses, defects in third-party services, or system instability arising out of an event listed below (2a, 2b, 2c, 2d). Financial losses or other losses that occur in such cases (2a, 2b, 2c, 2d) shall in no way be the liability of Beldex.
2a) Force majeure factors including without limitation Earthquake, typhoon, tornado, wildfire, flood, power failure, interruption or failure of telecommunication networks, and other destructive natural or man-made phenomena.
2b) Governmental regulations/acts, war, and terrorist attacks.
2c) Hacker attacks, viruses, DDoS attacks, network failure, system failure, and interruption or failure of third-party services.
2d) Downtime due to the Website upgrade, enhancement, and maintenance or network connectivity.
Beldex has the right to cancel or reverse any unusual transactions that are a result of a security breach, DDoS attacks, hackers, system or network failures, and other unexpected factors. Beldex will not ask for the Users to transmit passwords, Digital Assets, or any other funds to us that are not registered/listed on the Website and its Services. Nor shall we be held liable or responsible for losses in the transmission of Digital Assets through methods that are not listed on the Website and its Services.
By creating an Account, you agree that you do not allow anyone other than you to directly or indirectly use or direct your Account, change, modify any information therein and comply to inform Beldex at the earliest in case of any unauthorized access. You and only you are vested with the responsibility keeping, protecting, and maintaining the confidentiality of key information related to your Account such as passwords, access keys, user IDs, login credentials, certificates, (collectively referred to as “Passwords”) and other such information pertaining to the security of your Account that have been given to you or generated by your use of the Services. If you lose your Passwords, you cannot access your account. Beldex shall not be held liable for your losses or damages that arise due to the unauthorized use of your Passwords or Account. Beldex has the right to temporarily suspend, monitor, investigate, freeze and terminate your Account if it is used by any other person or third parties (whether authorized or unauthorized by you). Once registered, the User will get a username and all activities, events, and happenings under this username shall be the moral and legal liability of the User. You also warrant to observe the deposits, withdrawals, and security of your Account and log out by following the required safety protocols at the end of each visit.
Closure: You can close your account at any time and all rights and obligations pursuant to this Terms of Service prior to the closure of your account shall survive. It may be required of you to terminate or go through with and complete any remaining open orders and to provide a digital asset address or information relating to your bank account (in case of a transfer in fiat currency) to transfer your remaining digital assets.
Suspension: You authorize Beldex to suspend, freeze and investigate your Account indefinitely without notice in case of a suspected fraudulent activity including without limitation violation of the Terms of Service, relevant laws of a regulatory body or governmental institution, court orders, subpoenas, AML and CTF laws, etc and if we believe on reasonable grounds that there is a threat to the security of your Account and/or the Website. We may also suspend or freeze your account on suspected unauthorized access or if you use your personal information and login credentials pertaining to your account in an inappropriate manner or if the account is pending a legal proceeding, governmental inquiry or action.
Termination: You agree and acknowledge our right to terminate your Account at any time for any reason including without limitation as specified in Section 11, without prior notice and take necessary actions as applicable under relevant laws and jurisdictions. Upon termination, we shall refund you the remaining funds in your Account (minus the transaction fee, rebates, discounts, and damages incurred by us) to the digital asset address or bank account details that you provide.
Beldex does not endorse or provide any investment or financial advice. All information provided on the Website is to facilitate you to arrive at independent decisions and conclusions regarding your buying, selling, and holding of a Digital Asset and may not be considered or construed as investment, financial or other professional advice. Investing in a Digital Asset is risky at any given time, and the values of such assets may rise and fall because of various underlying factors such as derivative or unpredictable risks, market manipulation, market volatility, price fluctuation, and actions of a regulatory body. Because of such uncertainties, the value of your Digital Assets may sharply increase or decrease or even become valueless.
In addition, Forks of a Digital Asset can alter the way in which it is viewed, used, its current market value, its functionalities, and even its name. Beldex is in no way accountable for any loss or financial damage including loss of profit that you may incur due to the Forking of a Digital Asset. Beldex does not have an obligation to support either the dominant or non-dominant version of the Fork of a Digital Asset however it may choose to support it, at its sole discretion. Beldex shall make an announcement of the same through the Website and/or an email to the user’s registered email address. Beldex will not bear any losses that you may suffer due to the time or as a result of the effective implementation of such a decision to support either the dominant or non-dominant Fork. If Beldex, within reasonable discretion, decides to cease the continued support of either branch of the Fork, it shall not be accountable, responsible or liable for any losses whatsoever.
You should conduct your own research on how to deal with Digital Assets, evaluate your financial standings and risk tolerance, consult your legal, financial or tax advisors before making investment decisions. Beldex does not assure the stability of the Digital Assets or its market nor does it favor the buying, selling or holding of any particular Digital Asset. In agreeing to use our Services, you wholly acknowledge that you have sufficient knowledge of the market, of the risks it entails and the professional experience to make financial and investment decisions.
When you agree to comply with the Terms, you are offered limited, restricted, retractable, expendable, non-exclusive, non-transferable, non-sublicensable license to use the Services on your computer or other such internet supporting devices solely for the purpose of trading on Beldex. You agree that you will not sell, rent, lease, loan, copy, script, frame, distribute, transfer, transmit, extract through technological or non-technological means, reverse engineer, trade on behalf of a third person or assist anyone other than yourself to access, for commercial or any other use the contents of the Services and all the components that it encompases including without limitation the text, format, layout, design, structure, graphics, technology, user interface, software, programs, photographs, sound, art, etc.
The aforementioned is, are and will solely remain the intellectual property of Beldex and any rights not expressly granted are hereby reserved. All rights to control, sell, distribute, change or modify the contents of the Services shall be exclusively confined to Beldex. Beldex shall inquire, freeze, suspend or terminate the Accounts of any user who violates the Terms or the laws of a judicial, governmental or regulatory authority of the region in which the Services are used. You forfeit any intellectual property rights of feedback or suggestions that you provide through emails or means available in the Services and waive all rights or claims to the compensation of such feedback. Beldex shall be the owner of such feedback and reserves the right to make improvements or modifications based on your feedback.
You are restricted and prohibited from the following activities and you agree that you will not:
If Beldex, on reasonable grounds and in its sole discretion suspects or finds you in violation of any of the aforementioned Terms, then Beldex reserves the right to:
When you place a trade request, Beldex shall complete it after matching it with an open order. For a temporary period of time during the transfer, you shall grant Beldex the ownership of the Digital Asset that you hold. You may cancel this request that you placed using the Services prior to the matching of orders by Beldex, however, once the order is matched and/or processed, you cannot cancel, withdraw or revoke the authorization you granted Beldex to go through with that order. Beldex reserves the right to refuse your cancellation request at its discretion.
You will have to pay a transaction fee in accordance with the Fee Schedule (“Fee Schedule”). If the balance in your account is less than the order placed, then Beldex may cancel that order at any time or partially fulfill that order (after deducting the fee each time). The Fee Schedule may be revised by Beldex from time to time, in its sole discretion, without advance notice and the revision in the fee shall immediately take effect for all transactions, withdrawals and other services on the date set forth in such revision. You authorize Beldex to deduct any service fee and agree to maintain sufficient balance in your Account at all times. In case of insufficient balance in your account, Beldex reserves the right to refuse the request for a withdrawal.
Margin trading involves high risks. When you agree to use our margin trading, lending and borrowing services, you also acknowledge and accept the potential risks that it entails. The use of leverage can either work for you or against you. You may be subject to a total loss or may owe substantially more than what you initially deposited into your margin account. Unstable and volatile markets and other dynamics exert significant negative impacts on trading which may cause your inability to liquidate a position. In certain conditions, you may find it impossible to liquidate a position such as when there is a market illiquidity or a downtime on our platform. Contingent or incessant selling of your assets may not help you recover your losses in part or full as such market conditions may prevail for an extended period and generally do not allow you to implement the orders. Further, the value of the Digital Assets may fall sharply within a short period of time, dropping the value of Digital Assets in your margin account below the required or minimum margin. There is no one method that can stop, avert or guarantee the prevention of losses in margin trading.
You represent that you are not (i) a resident, citizen or an agent of the United States of America, Japan, South Korea, China and Canada, (ii) on any Sanctions Lists such as the ‘United Nations Security Council Sanctions List’ and (iii) not a ‘Specifically Designated National’ (SDN) as described by the Office of Foreign Assets Control of the U.S. Treasury Department in order to enter into a margin trading contract with us.
You agree that you understand and fully comprehend the risks involved in margin trading and do not hold Beldex accountable in case of your inability to understand the market prior to the execution of an order that results in a loss.
You agree to maintain the required or minimum margin in the form of Digital Assets in your margin account at all times. Beldex may, in its sole discretion, change such requirements from time to time. Whenever the value of Digital Assets in your margin account falls below the minimum requirement, you agree to take appropriate action. If Beldex suspects, in its sole discretion, that you are defaulting on a loan, then Beldex has the right to effect a force-liquidation of any and all Digital Assets in your margin account. If your losses exceed the Digital Assets in your margin account and does not compensate for your debt even after effecting a force-liquidation, then you shall be liable to make up for the difference. If you are defaulting on your loan, Beldex has the right to report to the respective authorities and take legal action.
You cannot trade, lend or borrow either a dominant or non-dominant Fork of a Digital Asset in your margin account. Beldex, by making use of the commercially reasonable methods provides exchange rate information, however, it may differ from the exchange rate information concurrently provided by other third parties. You are solely responsible for knowing the true status of a position at any time, even if Beldex provides incorrect information on it.
Beldex may try to mitigate your potential losses on your behalf by transferring your Digital Assets from your margin account to exchange account and vice versa. You also risk the loss of your principal when you lend your Digital Assets to other users who default on their loans and in cases where the force-liquidation of the defaulting users’ account does not compensate for all of their losses. Beldex is not responsible for your losses arising due to another user defaulting on a loan that you lent to the said user. Though Beldex takes several measures to prevent users from defaulting on a loan, due to the risk of a volatile market that may not always favour liquidation, Beldex offers no guarantee. You agree and accept that it is your sole responsibility to manage your margin account during system downtime due to maintenance or technical issues. You conduct margin trading or any trading activity in your account and agree that Beldex is not liable or responsible for any loss, injury or damage whatsoever arising out of such activities.
You agree and understand that beldex, it’s affiliates, directors, managers, officers, employees, agents, representatives, attorneys, members, service providers, and associated third parties, will not be liable for any direct or indirect, actual, consequential, special, punitive, material or physical damages, including without limitation damages to loss of reputation, good will, data, income, revenue or profits, and other non-physical, intangible damages arising either out of contract, tort, negligence, strict liability (even if beldex has been advised of the possibility of such damages) and/or (i) The use of or your inability to use the services, (ii) unauthorized access of your passwords and transaction data (iii) inaccuracies or errors in the data made available through the services, (iv) through a delay, loss, corruption or interruption in the transmitted data, (v) through your violation of applicable law or the terms of service, (vi) any other person’s violation of applicable law or the terms of service, (vii) incompleteness or unreliability of data, (viii) due to viruses, malicious programs, hackers, and other such detrimental components, (xi) force majeure, (x) through any other means.
Beldex does not offer any guarantee that the services will (i) be uninterrupted, timely, accurate, or secure, (ii) meet your standards of quality or expectations, (iii) meet your specifics. the services are provided ‘as is’ or ‘as available’ and you waive any and all warranties expressed or implied, whether written or oral, and beldex disclaims and renounces any warranties relating to, including without limitation, fitness for a particular purpose, quality or merchantability, patents and non-infringement, and other warranties originating from your use of the services.
The exclusion to certain warranties may not apply to you, as per the law set forth in your jurisdiction. if that be the case, the only resolution is for you to stop using the services and close your account by following the closure procedures in section 3c of the terms of service.
You agree to indemnify and hold harmless, Beldex, it’s owners, joint ventures, affiliates, directors, managers, officers, employees, agents, representatives, service providers, contractors, licensors, members, successors and subsidiaries from and against any claim or demand, reimbursements, losses or damages, injuries (including death) compensations, litigations, investigations, judgements, liabilities, obligations, fees, debts, costs, suits, expenses, penalties, fines (including but not limited to losses, fees and fines inflicted by a regulatory authority, attorneys’ fees) that may arise out of your use of the Services, breach of the Terms and the terms of service of third parties, violation of the laws in your jurisdiction, or your inefficiency to protect or safeguard your Passwords. In case of a dispute between you and another user or a third party, then you agree to indemnify Beldex from any such disputes.
Beldex is compliant with all the laws of the jurisdictions in which the Services are used and may comply with any court orders, subpoenas, restraining orders, warrants, tax levies, injunction, writs or other legal processes. It is the responsibility of the users to know about and abide by the laws that apply to them, including but not limited to tax and state money transfer laws. It is the duty of the user to collect, report, and remit the tax to their tax authorities. The Services are restricted to any person, agent or representative, who is a national of or are residing in the Restricted Countries, as listed under Section 1 of the Terms of Service. You may not use any aspect of the Services for the purposes of trading or transacting with anyone who is a resident, national, agent or representative of the Restricted Countries. Users warrant that they use the Services of Beldex for legitimate purposes and not for any illegal activities. If and when Beldex is prompted, advised or directed by any regulatory authority or determines in its sole discretion, to investigate, seize, freeze, close or terminate an account and all associated funds, Beldex will not hesitate to do so provided the user’s account or activity is suspected or found to be in violation of the Terms of Service or applicable laws.
Beldex has the right to terminate this Agreement with you at any time, in its sole discretion. Upon termination, all rights and obligations made available to you through this Agreement shall also be withdrawn. Beldex may, in its sole discretion, suspend, freeze or terminate your Account (or any accounts with associated funds that you may possess or someone acting on behalf of or under your directions may possess) in the following cases:
You agree that you will not hold Beldex liable or responsible for losses that you suffer due to the termination of your Account. You also agree that Beldex has the right to store and use the information of such accounts. Your right to erasure under the GDPR will also be subject to the aforementioned termination procedure. If your Account is terminated during a transaction, then Beldex will withhold that transaction and inform the other party. If you have any remaining funds in your Account after its termination, then you shall provide Beldex with a valid Digital Asset address to transfer the funds to that address (minus the transaction fee, rebates, discounts, and damages incurred by us). Beldex will not transfer the remaining Digital Assets in your account as fiat. In case the damages incurred by Beldex exceeds the balance in your Account, then you are liable to compensate for the difference. Beldex has no obligation to provide any portion of the Services to you after the termination of your account. However, no remaining funds in your Account will be returned to you in case of allegations that the funds were obtained by fraudulent means. In such a situation, Beldex will report to the concerned authorities and hold on to the funds until the alleged or suspected fraud is disproven. Beldex is not obliged to participate in the resolution of such disputes and will not release your funds until Beldex receives an acceptable evidence.
In no way shall the Terms of Service be construed as a waiver of rights that may be applicable to certain jurisdictions. In no way shall the failure of Beldex to enforce or execute a right under the Terms of Service in a timely manner or otherwise be construed as a waiver of such a right. You cannot waive your right to comply by the Terms even if Beldex does not insist on your compliance. In no way shall the waiver of any breach in the Terms be construed as a waiver of subsequent breach. If any aspect or portion of the Terms is considered by a court or a relevant authority of a jurisdiction to be void, then that portion shall be removed or limited only to a minimum degree that all portions of Terms prevail and remain enforceable.
PLEASE READ THE FOLLOWING SECTION CAREFULLY AND IN ITS ENTIRETY AS IT CONTAINS INFORMATION RELATING TO THE ARBITRATION PROCEDURE AND A WAIVER OF LEGAL RIGHTS INCLUDING A CLASS ACTION WAIVER.
The laws of the European Union (EU Law) shall govern the terms of this Agreement and the Estonian Court of Arbitration shall preside over any disputes between Beldex and other parties. Notwithstanding the aforementioned, the exclusive laws of Estonia shall also govern the terms of this Agreement.
If you have an issue that needs to be addressed, you agree to notify Beldex first and within 30 days of the issue by contacting our support team before filing a claim or resorting to legal action. Beldex will, within its reasonable capabilities, try to resolve any issues informally before going through with legal proceedings.
You agree to provide Beldex with an opportunity to resolve an issue outside a court of law by notifying us as described in Section 14b. If we are unable to resolve your issue within 90 days of receiving your notice, you and Beldex agree to settle disputes through arbitration after having made every effort to resolve the dispute informally, and you may seek final and binding arbitration through the procedures set forth below.
Any dispute arising between you and Beldex in relation to the Terms of Service (including but not limited to the enforceability of the Terms and questions relating to the existence, validity and termination of Beldex) shall be resolved by individual arbitration and not on representative basis or class action. Under the European Arbitration Law, you may seek final and binding arbitration and either you or Beldex may submit a dispute agreement to Court of Arbitration of the Chamber of Commerce and Industry, Estonia, which shall be the Court of first instance. The arbitration shall be conducted by a single arbitrator and shall take place in Tallinn, Estonia. The hearings of the Arbitration shall be conducted in the English language. The arbitrator does not have the authority to conduct a representative or class arbitration and may not consolidate or preside over claims of more than one individual. The decisions made by the arbitrator shall be in effect in any Court of a recognized jurisdiction.
If Beldex moves to arbitrate against you in accordance with your violation of the Terms or laws of relevant jurisdiction, Beldex will notify you via your email or mailing address. Alternatively, if you choose to commence the arbitration procedure, you must send a notice to Beldex International Inc, House of Francis, Room 303, Ile Du Port, Mahe, Seychelles listing and describing each of your claims in detail. Your notice must also include contact information such as your name, mailing address, email address, telephone number, the nature and basis of dispute and the exact relief that you wish to seek. You can find the complete arbitration rules and procedures at the website, https://cour-europe-arbitrage.org/arbitration-rules/. A printed version of the Terms shall be admissible in all legal proceedings.
You or Beldex may seek injunctive or equitable remedy on an individual and non-class action basis from a small claims court in the country of your residence or in a recognized and competent jurisdiction. However, all the claims of either party, whether within or outside the EEA (European Economic Area) will finally be referred to and adjudicated by the Estonian Court of Arbitration.
f any portion or provision of the Terms is deemed invalid or unenforceable by a court of competent jurisdiction or by a government institution, whether local, state, national or international, then that provision may be changed or modified to achieve its original intent and effect its enforceability to the greatest extent possible under applicable law. You agree and acknowledge that except for the provision that is made invalid or unenforceable, all other portions or provisions of the Terms of Service shall be valid, enforceable and remain in full effect.
All official announcements made by Beldex relating to promotions, change in the provisions of the Terms of Service, change in fee structure and other such details pertaining to the Services shall be updated here. It is your responsibility to follow these changes during your use of the Servicesand Beldex will not be responsible or liable for any damages, losses or injuries arising out of your procrastination or negligence to know of these updates.
Throughout the Website, we may provide links to third party websites and applications to better serve you. Choosing to visit the third party websites and applications or using their services is your sole decision. Beldex does not endorse the contents, products or services of any third parties. If you provide a third party with access to your Account, then it shall be your liability when you sustain financial losses or damages due to the action or inaction of or your reliance on information provided by the third party. Further, by granting a third party permission to access your Account, you do not relinquish your responsibilities under the Terms of Service. Beldex attempts to provide accurate information to its users but neither does it guarantee the accuracy, reliability, completeness or correctness of the information it provides nor does it guarantee the accuracy, reliability, completeness or correctness of the information provided by third parties. You should do your own research and verify the information that you obtain through the Services.
The rights and obligations granted to you under this Agreement is not assignable or transferable to another person or third party without written consent from Beldex. Any such effort to transfer or assign your rights to another party shall be invalid. Beldex reserves the right to transfer the rights or obligations of this Agreement to a third party, in whole or part, at any time without your approval or prior notice. If you disagree to such a transfer, then you may refrain from using the Services and terminate your Account.
If you would like to report an issue, file a complaint or for further information on Beldex and its Terms of Service, you may contact Customer Support at [email protected]. Please provide your name and all relevant details. We will try to get back to your as soon as possible.