Terms of Service
ATTENTION: PLEASE READ CAREFULLY THESE TERMS AND
CONDITIONS AS THEY AFFECT YOUR OBLIGATIONS AND LEGAL RIGHTS,
INCLUDING, BUT NOT LIMITED TO WAIVERS OF RIGHTS AND LIMITATION
OF LIABILITY. IF YOU DO NOT AGREE WITH THESE TERMS AND
CONDITIONS DO NOT PROCEED WITH REGISTRATION AT IADOWR EXCHANGE
This version was last updated on 08/07/2018.
TERMS AND CONDITIONS
You are allowed to use the Platform if you are eligible in accordance with the law of your residence. The Company has no obligation or capability to verify whether you are eligible to use the Platform and bears no responsibility for your use of the Platform. The Company reserves a right to block your IADOWREX Account on the Platform if we have any doubts with regard to your eligibility. If you are not of age, you and your guardian shall undertake all consequences resulting from your actions and IADOWREX shall have the right to cancel or freeze your account in addition to filing claims against you and your guardian for compensation.
3. Prohibition of use:
By accessing and using IADOWREX and any of its services, you acknowledge and declare that you are not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List and its equivalent. IADOWREX maintains the right to select its markets and jurisdictions to operate and may restrict or deny its services to certain countries. The content of this Agreement shall not be excluded from the laws of the country under which the user belongs. IADOWREX maintains its stance that prohibited users are not to use or access IADOWREX and any of its services.
4. Description of services:
IADOWREX provides an online digital asset trading platform (crypto to crypto) for products commonly known as cryptographic tokens, digital tokens or cryptographic currency. IADOWREX does not provide fiat trading capabilities on its platform and as such is not subjected to the stringent regulations that come with it. IADOWREX functions as a trading platform provider and is not a buyer or seller in trades made between traders.
IADOWREX is also not a market maker. Traders must register and open an account with IADOWREX and deposit digital assets prior to commencement of trading. Traders may request the withdrawal of their digital assets, subject to the limitations as stated in the Terms and Conditions. IADOWREX strives to maintain the accuracy of information posted on its website however it cannot guarantee the accuracy, suitability, reliability, completeness, performance or fitness for purpose of the content through the website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content. Information on IADOWREX website can be subjected to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions. IADOWREX does not provide investment or advisory advice and will have no liability for the use or interpretation of information as stated in its website or other communication mediums. All users of IADOWREX must understand that there are risks involved in trading. IADOWREX encourages all users to exercise prudence and trade responsibly within their own means. While IADOWREX emphasizes platform security to ensure the continuity and security of its services (announcements will be made in event of downtime/maintenance), it will be non-accountable to Act of God, malicious targeted hacking, terrorist attacks and other unforeseen circumstances. IADOWREX reserves the right to cancel, rollback or block transactions of all type on its platform in event of abnormal transactions. IADOWREX will not ask for any password from its users nor ask users to transfer funds that are not listed on its trading platform. Users are encouraged to exercise prudence in dealing with discounts or promotions that could lead to them getting scammed. While the list is non-exhaustive, you agree that IADOWREX will not be held responsible for any losses arising from the situations stated above. By using IADOWREX and any of its services, you declare that all information to IADOWREX in connection with these Terms are true, accurate and complete.
5. Definition of Services:
Electronic wallet ("IADOWREX Wallet") that allows you to store, track, transfer and manage your cryptocurrencies, the Tokens that you issue or the Tokens that you acquire; Decentralized cryptocurrency exchange (“DEX”) that allows you to place and execute orders for buying or selling cryptocurrency or Tokens for another cryptocurrency or exchanging them to other Tokens.
You may use your IADOWREX Account under these Terms and conditions and receive the following services ("Platform Services"):The Company grants you a limited nonexclusive nontransferable revocable license to use the Platform via your IADOWREX Account free of charge. All Platform Services are the program functions of Platform enabled by the Protocol. Any fee that you might pay while using IADOWREX Account is not a consideration for services of the Company and are distributed between participants of the corresponding Blockchains vested with the right to approve transactions in corresponding Blockchain ("Miners") according to the Protocol.
6. IADOWREX Account:
7. User Identity Verification:
With registration of an account on Finance, you agree to share personal information requested for the purposes of identity verification. This information is used specifically for the detection of money laundering, terrorist financing, fraud and other financial crimes on the IADOWREX platform. In addition to providing this information, to facilitate compliance with global industry standards for data retention, you agree to permit us to keep a record of such information for the lifetime of your account plus 5 years beyond account closing. You also authorize us to make inquiries, either directly or through third parties, that are deemed necessary to verify your identity or to protect you and/or us against financial crimes such as fraud. The Identity Verification information we request may include, but is not limited to, your: Name, Email Address, Contact Information, Telephone Number, Username, Government Issued ID. In providing this required information, you confirm that it is accurate and authentic. Post-registration, you must guarantee that the information is truthful, complete and updated in a timely manner with any changes. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, IADOWREX shall have the right to send you a notice to demand corrections, remove relevant information directly and, as the case may be, terminate all or part of IADOWREX Service to you. You shall be solely and fully responsible for any loss or expenses incurred during the use of IADOWREX Service if you cannot be reached through the contact information provided. You hereby acknowledge and agree that you have the obligation to keep all information provided up to date if there are any changes.
8. Remaining funds after account termination:
Once the account is closed/withdrawn, all remaining balance (which includes charges and liabilities owed to IADOWREX) on the account will be payable at once to IADOWREX. Upon payment of all outstanding charges to IADOWREX (if any), the user will have 5 working days to withdraw all funds from the account. However, IADOWREX has the right – in the event of warrants being issued due to all fraud/Anti-Money Laundering -- to shall maintains full custody of the funds and user data/information which may be turned over to the authorities in event of account suspension/closure arising from fraud investigations, AML investigations or violation of IADOWREX’s Terms (e.g. trading on IADOWREX from a sanctioned country).
9. Compliance with local laws:
It is the responsibility of the user to abide by local laws in relation to the legal usage of IADOWREX in their local jurisdiction. Users must also factor, to the extent of their local law all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. All users of IADOWREX and any of its services acknowledge and declare that the source of their funds come from a legitimate manner and are not derived from illegal activities. IADOWREX maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate the account and funds of users which are flagged out or investigated by legal mandate.
10. Cryptocurrency Blockchains:
Protocol governs relations within any corresponding Blockchain system and IADOWR Coin relies on the “Ethereum Blockchain” – distributed decentralized electronic ledger that is maintained by Miners and that is available to you through the Platform. All entries in any corresponding Blockchain are transactions in native digital units of the corresponding Blockchain. Miners might be necessary for the performance of corresponding Blockchain, the Platform and correct provision of Platform Services. The currencies on IADOWREX are cryptocurrency and have no centralized issuer. The Company is neither the issuer nor the major holder of the IAXin circulation, and therefore has not control over the price IAXare traded at DEX and at any other cryptocurrency exchange. The Company is not a Miner of Ethereum Blockchain and does not execute any control over the Miners of Ethereum Blockchain. IADOWR Coin is not a security, is not registered with any government entity as a security, and shall not in any case be considered as such. IADOWR Coin is not intended to be a commodity or any other kind of financial instrument, does not represent any share, equity, stake, or security in the Company or equivalent rights, including, but not limited to, any intellectual property rights, and does not represent any ownership right.
11. IADOWREX Wallet:
You may store cryptocurrencies and Tokens at IADOWREX Wallet, sent them to and receive them from third parties according to the instructions you provide through IADOWREX Wallet. The Company provides no financial services including but not limited to accepting deposits or money transferring. The Company does not store your private key of your IADOWREX Account and has no access to the cryptocurrencies and Tokens stored in your IADOWREX Wallet. IADOWREX is merely an interface to the assets you control on the corresponding blockchain. Some cryptocurrencies may not be supported by IADOWREX Wallet, please, check the supported cryptocurrencies before transferring them to your IADOWREX Wallet. The Company assumes no responsibility and liability in connection to any attempt to use IADOWREX Wallet for the cryptocurrencies that are not supported by IADOWREX Wallet. By using IADOWREX Wallet you acknowledge that the transactions with cryptocurrencies and Tokens are irreversible. The Company cannot be liable under any circumstances for any transaction made by you with your IADOWREX Wallet. The Company has no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or sell to or from a third party (including other users of the Platform). Any dispute you have concerning a transaction with cryptocurrencies and Tokens you shall resolve with such third party directly without involving the Company. If you believe that a third party behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot adequately resolve a dispute with a third party, you may notify our support team for assistance so that we may consider what action to take, if any. The Company may use a third-party payment processor to enable you to make payment any fiat (government issued) currency payment at Platform. The Company will never be a payee or any sort of intermediary between the parties of the deal and under no circumstances will hold your funds in fiat currencies or cryptocurrencies.
DEX enables you to place order and provides you with an in-built matching engine to meet the cross orders. You may place buying or selling orders from your IADOWREX Account. To place an order, you need to choose a cryptocurrency or a Token you are going to sell or purchase and the price in cryptocurrency or exchange rate for other Tokens and adjust additional settings such as lifetime of the order or any other setting that may be required by the Platform at the time of placing order. As soon as the cross order is found by the matching engine both orders are executed by changing balances of corresponding cryptocurrencies and/or Tokens at IADOWREX Accounts of the buyer and the seller. The Company does not define, suggest and execute any control over price or exchange rates of cryptocurrencies and Tokens. The Company is not a counterparty to any deal concluded at DEX. Any dispute you have concerning a transaction with cryptocurrencies and Tokens you shall resolve with such third party directly without involving the Company. The Company does not organize or participate in the trade of any Token and cryptocurrency.
13. Risk warning:
By accepting these Terms and Conditions, you also acknowledge that you have been warned of the following risks:
i. New Technology:
You understand that cryptocurrencies including Bitcoin, IADOWR Coin, blockchain technology, including Ethereum POS Blockchain and other associated and related technologies are new and untested and outside of your or the Company’s control and adverse changes in market forces or the technology, broadly construed, will excuse the nonperformance by the Company under this Agreement including temporary interruption or permanent termination of your access to the Platform Services.
ii. Loss of funds:
The risk of loss in trading or holding cryptocurrencies and Tokens can be substantial. Therefore, you should carefully consider whether trading or holding cryptocurrencies is suitable for you in light of your financial condition. Forks and changes in relevant network may result in significant and sudden changes to the value and/or usability of cryptocurrencies and Tokens. The Company is not responsible for such loss of value of cryptocurrencies and Tokens and bears no responsibility for any loss incurred by you while using the Platform or in any direct or indirect connection to the Platform.
14. Unfavorable regulatory environment:
Cryptocurrencies, Blockchain technologies have been the subject of scrutiny by various regulatory bodies around the world. The functioning of the Platform could be impacted by one or more regulatory inquiries or actions, including but not limited to restrictions of use of cryptocurrencies.
15. Risk of theft and hacking
Hackers or other groups or organizations may attempt to interfere with your IADOWREX Account or the Platform performance in any number of ways, including without limitation denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks.
16. Risk of security weaknesses of the Platform:
There is a risk that the Platform may unintentionally include weaknesses or bugs in the source code interfering with the use of or causing the loss of Tokens and cryptocurrencies.
17. Risk of mining attacks:
As with other decentralized cryptocurrencies, Ethereum blockchain is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attacks present for the Platform performance and your access to the Platform Services. Mining attacks, as described above, may also target other blockchain networks, which the Platform interacts with, and consequently affect the Platform performance and your access to the Platform Services.
18. Internet transmission risks:
You acknowledge that there are risks associated with using the Platform including, but not limited to, the failure of hardware, software, and internet connections. You acknowledge that the Company shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Platform, howsoever caused.
19. Account Security
IADOWREX prioritizes maintaining the safety of those user funds entrusted to us and has implemented industry standard protections for our platform. With that said, there are account-level risks that are created by individual user actions. We request that you understand the need to independently take safety precautions to protect your own account and personal information. You shall be solely responsible for the safekeeping of your IADOWREX account and password on your own, and you shall be responsible for all activities under your log-in email, IADOWREX account and password (including but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement, etc.).
You hereby agree that:
i. You will notify IADOWREX immediately if you are aware of any unauthorized use of your IADOWREX account and password by any person or any other violations to the security rules;
ii. You will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or procedures of the website/service; and
iii. You will log out from the website by taking proper steps at the end of every visit. IADOWREX will not be responsible for any loss or consequences caused by your failure to comply with the above Account Security provision.
20. Your warranties and representations:
You are having full capacity to contract under applicable law; You will only be transacting on the Platform with legally-obtained funds that belong to you; You will not be furthering, performing, undertaking, engaging in, aiding, or abetting any unlawful activity through your relationship with us or through your use of the Platform; You will not use the Platform for illegal purposes, including money laundering of criminal proceeds, transfer or receipt of payment for planning, preparation or commitment of crime, for financing the terrorism and illegal trade; You will not use the Platform for any purpose prohibited by these Terms or in any manner that could damage, disable, overburden, or impair the Company; You will be complying with and obeying all applicable laws, including but not limited to securities and capital market legislation, anti-money laundering and counterfeiting terrorism, consumer protection laws, financial promotion.
You hereby agree to observe the following covenants during your use of services on IADOWREX: All the activities that you carry out during the use of IADOWREX Service will follow the requirements of applicable laws, regulations, as well as the various guidelines of IADOWREX; You represent that you will not be in violation of public interests, public ethics or other’s legitimate interests; that you will not constitute evasion of payable taxes or fees and will not violate this agreement or relevant rules. If you violate the foregoing promises and thereby cause any legal consequence, you shall independently undertake all of the legal liabilities in your own name and indemnify IADOWREX from all actions, claims, or costs arising from such violation. You will not use any data or information displayed on the site for commercial purposes without the prior written consent of IADOWREX.
Examples of such malicious acts include, but are not limited to:
1. Using a device, software or subroutine to interfere with the site;
2. Overloading network equipment with unreasonable data loading requests;
3. Executing malicious sales or purchases on the market By accessing the IADOWREX Service, you agree that IADOWREX shall have the right to unilaterally determine whether you have violated any of the above covenants and take actions to apply relevant rules without receiving your consent or giving prior notice to you.
1. Block and close order requests;
2. Freezing your account;
3. Reporting the incident to authorities;
4. Publishing the alleged violations and actions that have been taken; and,
5. Deleting any information, you published that is in violation If your alleged violation causes any losses to a third party, you shall solely undertake all the legal liabilities in your own name and hold IADOWREX harmless from any loss, fine or extra expenses.
If, due to any alleged violation IADOWREX incurs any losses, is claimed by any third party for compensation or suffers any punishment imposed by any administrative authorities, you shall indemnify IADOWREX against any losses and expense caused thereby, including reasonable attorney’s fee.
21. No Warranties; Exclusion of Liability; Indemnification:
The Platform and its components such as the IADOWREX Account, IADOWREX Wallet, DEX are provided “as is”. The Platform and its components are under development, the Company cannot guarantee that all program functions will be available for any period in the future or that the functionality of the Platform will not change dramatically. The Company and its affiliates make no representations or warranties of any kind, whether express, implied, statutory or otherwise regarding the Platform, including any warranty that the Platform will be uninterrupted, error free or free of harmful components, secure or not otherwise lost or damaged. Except to the extent prohibited by law, the Company and its affiliates disclaim all warranties, including any implied warranties of merchantability, satisfactory quality, fitness for a particular purpose, non-infringement, or quiet enjoyment, and any warranties arising out of any course of dealings, usage or trade. The Company shall not have any liability or responsibility for any errors or omissions in performance of the Platform, for your action or inaction in connection with our Platform or for any damage to your computer or data or funds or any other damage you may incur in connection with the Platform. Your use of the Platform is at your own risk. In no event shall the Company be liable for any direct, indirect, punitive, incidental, special or consequential damages arising out of or in any way connected with the use of the Platform, the delay or inability to use the Platform or otherwise arising in connection with our Platform whether based on contract, tort, strict liability or otherwise, even if advised of the possibility of any such damages. You agree to defend, indemnify and hold the Company harmless from and against any and all claims, damages, costs and expenses, including attorneys' fees, arising from or related to your use of the Platform. The Company makes no representation that Platform Services can be received are applicable or appropriate for use in all jurisdictions.
22. Third-Party Websites and content:
The Platform may contain links to websites owned or operated by parties other than the Company. Such links are provided for your reference only. The Company does not monitor or control outside the Platform and is not responsible for their content. The inclusion of links to third party resources does not imply any endorsement of the material on the Platform or, unless expressly disclosed otherwise, any sponsorship, affiliation or association with its owner, operator or sponsor, nor does such inclusion of links imply that the Company is authorized to use any trade name, trademark, logo, legal or official seal, or copyrighted symbol that may be reflected in the linked website. The Company does not control the third-party content including the content posted by you or other users of the Platform or monitor it for compliance with any requirement (e.g. truthfulness, integrity, legality). Accordingly, the Company does not bear any liability arisen in connection with your access or use of the third-party content.
The Company bears no liability for determining whether taxes apply to any of your transactions, or for collecting, reporting, or remitting any taxes arising from any transaction.
You may not transfer or assign these Terms and Conditions or any rights or obligations you have under these Terms and Conditions without our prior written consent. The Company reserves the right to freely assign or transfer these Terms and Conditions and the rights and obligations under these Terms and Conditions to any third party at any time without prior notice or consent. If you object to such transfer or assignment, you may stop using the Platform and terminate these Terms and Conditions by contacting us.
25. Jurisdiction, applicable law:
The Terms and conditions and any legal relationship between the Parties arising out of or in connection with them shall be governed by and construed in accordance with the laws of England without regard to its conflict of laws rules. The Parties settle all their disputes arising out of or in connection with the Terms and conditions in accordance with the laws of England. The Parties agree to try in good faith to settle through negotiations any dispute, disagreement or claim arising out of or in connection with execution, termination or rescission of these terms and conditions. The claiming party shall send a message with its claim to the other party. The message in question shall contain the essentials of the claim and evidence supporting such claim. In the absence of a reply to the claim within 30 working days since the sending date, or if the Parties have failed to reach an amicable settlement, the dispute shall be brought and heard exclusively in appropriate court at the location of the Company determination.
The Parties agree to use electronic signatures while delivering all necessary documents or claims. The Parties confirm that documents and claims signed by electronic signature have the legal effect and are to be accepted and considered by the Parties. The Parties confirm that all emails sent from the authorized email addresses are deemed to be sent and signed by the Parties. Notices sent by email in accordance with these Terms and conditions shall be deemed to be sent on the date on which the e-mail is confirmed as being sent provided that day is a working day. All communications and documents to be made or given pursuant to this Agreement must be in the English language. Until one Party advises the other one of the facts of the breach of security in respect of its authorized email, all actions and documents done and sent from the authorized email of one of the Parties, even if these actions and documents have been done and sent by third parties, are considered to be done and sent by the owner of the authorized email. In that case the owner of the authorized email acquires all rights and incurs all obligations, as well as bears the liability arising out of these facts. These terms and conditions constitute the entire agreement and understanding of the Parties and supersedes any previous agreement between the Parties relating to the subject matter of these terms and conditions. If at any time any one or more of the provisions of these terms and conditions is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction neither the legality, validity or enforceability of the remaining provisions of these terms and conditions nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall be in any way affected or impaired as a result. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.
You agree to indemnify and hold harmless IADOWREX, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of your breach or our enforcement of this Agreement. This shall also apply to your violation of any applicable law, regulation, or rights of any third party during your use of the IADOWREX Service.