Terms of Service

1. DEFINITIONS
   1. Account – the primary means for accessing the Services on the Website.
   2. CC - the Polish Civil Code of April 23, 1964 (consolidated text of June 21, 2024, Journal of Laws of 2024, item 1061 as amended).
   3. Client – individual or entity concluding the Contract with the Provider.
   4. Consumer - individual concluding the Contract with the Provider, which is not directly related to the Consumer's business or professional activity, pursuant to art. 221 of CC.
   5. Consumer Law – Polish Act On Consumer Rights of May 30, 2014 (consolidated text of December 7, 2023, Journal of Laws of 2023, item 2759, as amended).
   6. Contract – the agreement between the Provider and the Client for the use of the Services, consisting of the General Terms.
   7. Electronic Services – electronic services provided by the Provider via the Account or the Website under sec. 19 of the General Terms.
   8. Entrepreneur - a natural person, a legal person and an organizational unit that is not a legal person, which the law grants legal capacity, conducting business or professional activity on its own behalf, pursuant to art. 431 of CC.
   9. Exchange - virtual currency (VA) exchange operated by the Provider through the Provider’s IT system, including Website and subdomains.
   10. Execution of Transaction(s) – execution by the Provider of instructions or orders issued by the Client.
   11. Force Majeure - any acts of God, war, terrorist acts, insurrection, riot, embargoes, acts of civil or military authorities, fire, floods, accidents, strikes, epidemic, natural disaster, civil disorders, rebellions or revolutions or any similar event, which is unavoidable and not attributable to either Party.
   12. Fee – payment due to Provider for using the Services according to the Table of fees and commissions .
   13. General Terms – these General Terms and any future modifications thereof, published on the Website or made available to the Client otherwise in connection with the conclusion of the Contract and use of the Services.
   14. GDPR - Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April, 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation).
   15. IP Rights – intellectual property rights, including copyrights and related rights, as well as the industrial property rights, related to the Services, Website, or other data made available by the Provider to the Client under the Contract, which belongs entirely to the Provider.
   16. Disposition – instruction or order issued by a Client to Provider in connection with the operation of the Account for the Execution of Transaction through such medium and in such form and manner as Provider may require.
   17. Party – either the Client and the Provider.
   18. Payment Institutions – entities, which provides payment services for the purposes relating to the Contract, which are indicated by the Provider on the Website and through which the Client can pay the Fee – if available.
   19. Privacy Policy – Privacy Policy, a document regulating processing of Clients’ and Users’ personal data pursuant to GDPR, adopted by the Provider and published on Website.
   20. Provider – EllipX sp. z o.o. with its registered seat in Poznań, a company incorporated under the laws of Poland, entered into the National Court Register under the KRS number: 0001102444, by the District Court for the capital city of Warsaw in Warsaw, XIII Commercial Division of the National Court Register, address: ul. Młyńska 16, 8 floor, 61-730 Poznań (Poland), REGON: 528458664, NIP: 5214067292 with the share capital: PLN 5,000.00. Contact details: e-mail: [email protected], phone. no. +48 732 070 542.
   21. Services – the services provided to the Client by the Provider under the Contract through the Website covering trading on the Exchange, i.e. the possibility of matching Users via Website for the purpose of concluding Transaction, enabling the possession of Wallet created within the User Account, as well as other type of services, if made available on the Website, in accordance with the functionalities of the Website and pursuant to the provisions of the T&C.
   22. Trading – making by the Users any Transactions via the Website.
   23. Transaction – a legal or factual act on the basis of which ownership or possession of property values is transferred, or a legal or factual act performed for the purpose of transferring ownership or possession of VA. Transactions are made in accordance with the Dispositions.
   24. User – a natural person who use the Account and access the Services as a Consumer, Entrepreneur or acting on behalf of the Entrepreneur as his representative, employee or associate.
   25. VA – virtual assets (digital representation of a value or right that can be transferred and stored electronically using distributed ledger technology or similar technology), including Virtual Currency.
   26. Virtual Currencies - means a digital representation of value that is not: (a) a legal tender issued by the National Bank of Poland, foreign central banks or other public administrations, b) an international unit of account established by an international organization and accepted by individual countries belonging to or cooperating with that organization, c) electronic money within the meaning of the Payment Services Act of August 19, 2011, d) a financial instrument within the meaning of the Act of July 29, 2005 on trading in financial instruments, (e) a bill of exchange or check - and is exchangeable in business for legal tender and accepted as a medium of exchange, and may be electronically stored or transferred or may be subject to electronic commerce.
   27. Deposit - a fuunctionality within the Services that allows User to hold, manage and transfer various Virtual Currencies (execute Transactions).
   28. Website or Webpage - EllipX.com the website of the Provider, which is used for the provision of Services.
2. GENERAL PROVISIONS
   1. The General Terms regulate the rules of providing Services via Exchange by the Provider, among others: concluding the Contract, access to the Account and provision of the Services, as well as principles of cooperation between the Client and the Provider related to it.
   2. The General Terms apply to all Contracts concluded with all Clients in relation to all Services provided by the Provider.
   3. The Client shall read carefully the General Terms before the conclusion of the Contract.
   4. Upon conclusion of the Contract, it is assumed that the Client has read and accepted the General Terms in their entirety.
   5. The General Terms form a legally binding Contract between the Provider and the Client. Upon acceptance of the General Terms by the Client, a legally binding Contract is concluded between the Provider and the Client.
   6. Acceptance of the General Terms constitutes Client's acknowledgment that:
      1. as with any asset, the value of VA may fluctuate and there is a risk of economic loss when buying, selling or holding VA. The User is aware of and accepts the risks described in the preceding sentence;
      2. the Client is aware that the primary risk of any internet user is the possibility of third parties taking control of the device or otherwise obtaining data in order to take over the User's Account, which may involve the theft of the User's funds,
      3. the Client is aware that Provider is not a broker, intermediary, trustee, agent or advisor (including an investment advisor) to the Client and that Provider has no obligations to the Client in connection with any Transactions or other actions taken by the Client while using the Services. Provider does not provide advisory services and no communication or information that Provider provides to the Client is intended as, or should be construed as, any advice of any kind,
      4. the Client is aware that it makes all decisions regarding the use of the Services and the execution of Transactions entirely and exclusively at its own risk. Before making a decision to buy, sell or hold any VA or make any other Transaction, the Client is obliged to conduct its own analysis and consult with a financial advisor on its own. Provider shall not be liable for any decisions made by the Client regarding the purchase, earning, selling or holding of VA or making any other Transaction, based on information provided by Provider, including any losses incurred by the Client as a result of such decisions. However, the exclusion of liability contained above does not apply to liability for the Client's losses resulting from the non-performance or improper performance of the Contract by Provider pursuant to the provisions of the applicable law,
      5. The Client is aware that if he/she acts as a Consumer, he/she does not have the statutory right to withdraw from the Contract under the Consumer Law in the case of agreements concerning money market instruments, transferable securities, units of participation in open-end investment funds or specialist open-end investment funds, participation titles in collective investment institutions, sale of securities with an obligation to repurchase them and financial operations in which a price, rate, interest rate or index has been set, in particular the acquisition of currencies, securities, gold or other precious metals, commodities and rights, including agreements based exclusively on the difference in prices, options and derivatives, concluded for an agreed day or agreed period, which are in market circulation, pursuant to the provisions of Consumer Law.
   7. The General Terms are available all the time on the Website. The Client may read them at any time and in any place via the Website.
   8. In respect to the Consumers, the provisions of the General Terms do not infringe or limit the rights of Clients, especially Consumers, resulting from the provisions of the absolutely binding law, i.e. in particular Polish statutory acts (e.g. Consumer Law, if applicable) or EU regulations, to the extent to which they are applicable and provided that they are applicable. In the event of any inconsistency between the General Terms and the provisions of the absolutely binding law, the provisions of the absolutely binding law shall prevail.
   9. As part of the Services, the Provider does not provide payment services. In case of enabling such functionality on the Website, all payment services necessary to make transactions between Clients, including in particular the handling of top-ups and withdrawals and the storage of Clients' funds, are provided to Clients by payment service operators cooperating with the Provider, who have appropriate permits for the provision of payment services for this purpose.
   10. In all matters not covered by the General Terms, the provisions of the competent law are applicable.
3. GENERAL TERMS FOR USING THE SERVICES
   1. The Provider’s IT system comprises a set of cooperating IT devices and software, ensuring processing and storage, as well as sending and receiving data via telecommunications networks, using a terminal device appropriate for a given type of network.
   2. The Provider provides Services as an information society services (in accordance with Directive (EU) 2015/1535 of the European Parliament and of the Council of 9 September 2015 laying down a procedure for the provision of information in the field of technical regulations and rules on information society services), which consist of:
      1. ensuring the possibility of matching Clients via the Exchange in order to conclude transactions between them for the purchase, exchange or sale of Virtual Currencies, available on the Exchange; whereas the Provider in no case shall be a party to transactions concluded by Clients via the Exchange, but only provides tools enabling the execution of such transactions;
      2. storing or administering Virtual Currencies on Deposits to enable Clients to conclude transactions between themselves as indicated in point a) above;
      3. facilitating the transfer of Virtual Currencies from Clients' wallets held privately or by another service provider and vice versa (external wallet);
   3. Within the Services the Provider does not provide any payment services within the meaning of the Payment Services Act of August 19, 2011.
   4. Through the Website, the Client is provided with information on the amount of funds in Virtual Currency for which he can currently make transactions.
   5. The Provider does not play on the rates of Virtual Currencies available on the Exchange and is not a so-called market maker (Market Maker).
   6. The rates of individual Virtual Currencies on the Exchange result from transactions concluded by Clients of the Exchange without the intervention of the Provider.
   7. The Provider reserves the right to limit access to selected or all functionalities of the Exchange due to the content of the law in force in a given territory, or for individual Users or Clients.
   8. If the Client is the Entrepreneur, who is not a User, the Entrepreneur is liable for introducing and obtaining User’s consent to the General Terms and the Privacy Policy, prior to providing the Provider any personal data about the User and prior to providing the User access to the Account.
   9. The Entrepreneur remains liable towards the Provider for any actions of the User related to the Account or Services. The Entrepreneur shall ensure that any actions of the User will be compliant with the General Terms.
   10. Services are provided only to adult Users.
   11. The Contract may be concluded only with the Client, who has full legal capacity to conclude it, pursuant to provisions of CC. In case of the Entrepreneur, the Contract shall be signed by the person duly authorized to represent the Entrepreneur and the Provider is entitled to request from the Client a document confirming such authorization any time.
   12. The commencement of the provision of Services takes place only after positive verification of the User resulting in the creation of an Account.
   13. The Services are provided for a Fee, which shall be paid by the Client pursuant to the provisions of the General Terms.
   14. The Services are provided only in English language. To use the Services, the Users shall have a minimum of B1 level of English. The Provider is not obliged to verify the above and may rely on User’s declaration.
   15. To use the Services, the User shall have the full access to the:
       1. personal computer, tablet computer or mobile phone with installed current drivers and required system updates;
       2. stable Internet connection;
       3. any software and applications that will be necessary to use the Services as provided on the Website.
   16. The Provider shall inform the Consumer about updates, including security updates, necessary to maintain compliance of the Services with the Contract and provides them to the Consumer for the period of:
       1. the provision of Services specified in the Contract, on the basis of which the provision of Services takes place on a continuous basis, or
       2. reasonably expected by the Consumer, taking into account the type of Services and the purpose for which they are used, as well as the circumstances and nature of the Contract, if the Contract provides for the provision of Services once or in parts.
   17. If the Consumer fails to install the updates provided by the Provider within a reasonable time in accordance with sec. 3.9. above, the Provider shall not be liable for the non-compliance of the Services with the Contract resulting solely from the lack of updates, if:
       1. Provider informed the Consumer about the update and the consequences of not installing it,
       2. failure to install or incorrect installation of the update did not result from errors in the installation instructions provided by the Provider.
   18. The content of the Services shall be provided in the latest version available at the time of concluding the Contract, unless the Parties have agreed otherwise.
   19. If the Services are inconsistent with the Contract, the Consumer may demand that they be brought into compliance with the Contract. However, the Provider may refuse to bring the Services into compliance with the Contract, if bringing the services into compliance with the Contract is impossible or would require excessive costs for the Provider. The Provider brings the Services into compliance with the Contract within a reasonable time from the moment when the Provider was informed by the Consumer about the lack of compliance with the Contract, and without undue inconvenience to the Consumer, taking into account their nature and the purpose for which they are used. The costs of bringing the Services into compliance with the Contract shall be borne by the Provider.
   20. The Provider indicates that each use of the Services and Electronic Services is associated with potential threats, including identity theft (phishing) and passwords, spam, malware and spyware, and hacker attacks. To maintain security, it is recommended that the devices used by the Client and the User be equipped with an up-to-date anti-virus program and a firewall, and the programs used are updated on an ongoing basis.
   21. To properly use the Exchange, a device with access to the Internet, supporting an Internet browser (e.g. Mozilla, Opera, Chrome) is required, as well as enabling Java Script and Cookies support in the browser. The Provider reserves and draws attention to the fact that using an outdated Internet browser may cause the Exchange to function incorrectly.
   22. Each User and Client is solely responsible for ensuring technical compatibility between the computer equipment or end device used by them and the IT or telecommunications system and the Exchange.
   23. The Provider when updating the Exchange, in the event of significant technological changes in the scope of the Services provided, which will affect the quality of the Services provided, will provide such information to Users and Clients via e-mail to the e-mail address provided on the Exchange or by placing information in a visible place on the Exchange. A change in technical requirements is not treated as a change to these General Terms, unless it results in the inability to provide the Services by the Provider to Users and Clients.
   24. The Provider reserves the right to suspend or terminate the provision of individual functionalities of the Exchange due to the need for maintenance, review or expansion of the technical base, if this is required for the stability of the Exchange's operation. If such a need arises, the Provider will notify Users and Clients – if possible – in advance, providing the date and time of the technical break, if known.
   25. The use of the Exchange by Users and Clients is based on the principles of the “client-server” architecture, which means that all changes are processed, implemented, etc. on the Exchange server side, and the User's or Client's device is the party submitting the request and downloading information.
   26. The Provider is not responsible for any wallets, services, etc. that the User or Client uses to store Virtual Currencies outside the Exchange infrastructure, and which are not part of the Provider’s infrastructure, even if these wallets or services are used to transfer Virtual Currencies from or to the Exchange.The Services are used by logging into the Account. Using the Exchange using external applications, overlays or plug-ins, unknown devices or unsecured networks, or in publicly accessible places, is done at the Client's sole risk, for which the Provider is not responsible.
4. APPLICATION PHASE
   1. A Client who wants to use the Services need to create the Account and provide email and password. Creation of the Account will take place after the Client complete the below identity verification procedure, which is contained in “Identity Verification and Transaction Security Procedure”. The Provider is entitled to request providing Client’s and User’s:
      1. email address,
      2. personal data (full name and surname, date of birth and address),
      3. identity documents, such us scan of: ID card, passport or driving license,
      4. bills or invoices for address verification,
      5. live photo for matching it with uploaded identity documents (selfie verification).
      6. Telephone number used for two-facto authentication.
      7. additionally in the case of a User being an Entrepreneur: a scan of an extract from the relevant commercial register in which the entity is registered, data of the business activity conducted, a scan of confirmation of the assignment of the tax identification number and other national identification numbers - unless the number has been disclosed in the extract from the commercial register, as well as data from a document confirming the identity of the person authorized to represent the User, including their first name, last name, nationality, as well as address of residence, information on tax residency, country of birth, information on the politically exposed position held, telephone number, date of birth and an individual identification number, or a declaration that they do not have such a number. The User is also obliged to provide the above information concerning all beneficial owners of the User, up to the indication of natural persons.
   2. Provider may also verify documents and photos provided by the Client in global databases and checks for authenticity (automated checks). After identity verification, Client receives information about the status of the application phase by email. Status can be approved, pending or rejected.
   3. All information provided by the Client must be complete and truthful. The Client is obliged to update the information whenever it changes. An Account is opened on the basis of submitted application and after meeting the described requirements, however, the Provider reserves the right to reject an application to create an Account for a justified reason.
   4. The Client authorizes the Provider to perform such actions as the Provider deems necessary to verify the Client's identity or to protect the Client or the Provider from fraud, money laundering, terrorist financing or other financial crimes, and to take any reasonable steps that the Provider deems necessary based on the results of such actions.
   5. Once an Account has been established, if there is a suspicion that any information provided by the Client is incorrect, untrue, outdated or incomplete, the Provider may send a request to correct, delete the relevant information or take any other action that the Provider deems necessary to ensure that the information is true and correct. If Client refuses to provide the requested information or fail to comply in a timely manner, Provider reserves the right to suspend or terminate access to Account or all or part of the Services, immediately and without prior notice to the Client.
   6. Additional information on how Provider collect and use data related to the use of the Services and the operation of the Account and on Website is contained in the Privacy Policy .
   7. In order to withdraw Virtual Currencies from Deposit and transfer them to external wallets the Client is subject to two-factor authentication (2FA) which requires from him email and SMS confirmation for a single withdrawal.
   8. The Client can change the rules of authentication, i.a. to enable / disable two-factor authentication with the use of Google Authenticator or SMS in the “Security Settings” on the Website. After choosing this option the Client can change password, enable login alerts, view and manage devices that have accessed the account, or deactivate or permanently delete the Account.
   9. The Provider undertakes actions fully complaint with the Act of 1st March 2018 on Combating Money Laundering and Terrorist Financing (i.e. OJ of 2023, item 1124 as amended). In the case any and all actions of the User are non-compliant with the AML procedure of the Provider or with the said Act any and all functionalities of the Exchange, Website or Account can be instantly suspended by the Provider until achieving full compliance therewith.
   10. Following the rules of data collection set forth above in order to create an Account the User:
       1. chooses an option to sign up and enter his or her email address.
       2. message with a verification code will be sent to the provided email address, which the User must enter on the Website.
       3. Enters his or her phone number and confirm it with the verification code that received via SMS.
       4. Sets a password for his or her Account. (*Please note that the password should consist of lowercase and uppercase letters, numbers, and special characters, and should be different from other passwords used on other websites to ensure the security of an Account.
   11. The User will then be asked to set up Google Authenticator, which will authorize his or her identity every time the User logs in to Account, or to confirm that the User prefers to use codes sent via SMS for this purpose.
5. ACCOUNT
   1. The Services can be used via the Account. Logging in to Account requires entering Client’s email address and password.
   2. The Account can be used only by the User who is authorized to use the Services. Only one User may be assigned to each Account. The User undertakes not to share the User’s log-in details (e-mail and password) with any third parties.
   3. In the case that the Client is the Entrepreneur, the Entrepreneur retains access to the Account, although only the User may use the Services. In this respect the Entrepreneur shall not make the Account accessible for more than one User.
   4. The User undertakes to keep the log-in details a secret in such a way that they do not fall into the hands of any third parties. The Client is obliged to immediately notify the Provider:
      1. about any loss of log-in details,
      2. about any disclosure of log-in details,
      3. if the log-in details is disclosed intercepted by a third party,
      4. about any unauthorized or illegal use of the Account,
      5. if any third party gains access to the Account.
      6. If a given telephone number is assigned to different Accounts – in such a case a Client must confirm its authenticity within 7 days from call made by the Provider.
   5. In the events specified in sec. 5.4. above, the Provider is entitled to:
      1. suspend, block or restrict the access to the Account or the Services,
      2. take any other necessary measures.
   6. The Client and the User are fully liable for any activities on and via their Account.
6. USAGE OF THE ACCOUNT. DISPOSITION. TRANSACTIONS
   1. Client is obliged to ensure that each Disposition submitted is complete and accurate. The Provider is not obliged to verify the accuracy, authenticity or validity of any Disposition. If the Provider has doubts as to the accuracy, authenticity or validity of the Disposition, Provider may refuse to take action, suspend or postpone action in relation to that Disposition and request additional information concerning that Disposition.
   2. By submitting an Disposition, Provider is authorized on behalf of the Client to proceed with Execution of the Transaction on the Client’s account.
   3. Transactions are concluded directly between Users. The Provider is not a party to the Transaction.
   4. Provider does not represent or warrant that any Transaction will be completed successfully or within a particular time frame, and their completion may be affected by, for example, technical factors.
   5. The moment the transaction is visible in the Account balance is the moment the Virtual Currency sale agreement is concluded between the Clients. Each price indicated in the Virtual Currency purchase or sale offer is the price from the Client, and the decision to introduce the transaction offer to the Exchange is solely a manifestation of the will of the Client at the Exchange. The Provider does not guarantee and has never guaranteed profit from the change in the Virtual Currency exchange rate difference.
   6. The Provider does not guarantee that the list of Virtual Currency purchase or sale offers (the so-called orderbook) displayed in the Client's Account reflects its real positions and values at all times. The display of the current rate or value of purchase or sale offers is influenced by, among others, browser performance, as well as the speed and stability of the Internet, for which the Provider is not responsible.
   7. The Provider generates individual addresses for each Account allowing for making payments. Failure to make a payment to the generated address for Virtual Currencies and tokens for an uninterrupted period of 6 (six) months will result in its irreversible deletion. The deadline stipulated in the previous sentence will be counted from the date of address generation. By making a payment to the generated address for Virtual Currencies and tokens specified in the Table of Fees and Commissions before the deadline referred to in the preceding sentences, the Client assigns the address to their Account.
   8. After completing the procedure referred to in subclause 6.7 above, the Client loses the ability to send funds to deleted addresses. When making a payment to a deleted address, the Client must expect to lose the funds transferred in this way.
   9. The Client remains solely responsible for the correct transfer of Virtual Currencies to the Exchange Wallets. Sending Virtual Currencies in the wrong network may result in them being impossible to recover to which the Client hereby consents.
   10. The minimum value of a single exchange transaction is specified in the Table of Fees and Commissions placed on the Exchange. Transactions with a lower value, including transactions with a zero value, will not be added to the order book and will not be performed.
   11. The maximum fee for the Services provided and the funds for the performance of the offer are blocked at the time of submission of the offer and then automatically debited from the Account at the time of the performance of the given transaction. If the final fee is below the maximum blocked amount, the excess over the fee actually charged is returned to the Deposit.
   12. The Provider points out that Virtual Currencies do not constitute a financial instrument or an electronic payment instrument within the meaning of generally applicable law.
   13. By accepting these General Terms, the Client consents to the Provider using on its own behalf the funds transferred to the Client's account expressed in Virtual Currencies and Virtual Currencies acquired by the Client during transactions made on the Exchange, and any VA, without the obligation to pay the Client any interest for the time in which the Provider used these funds.
   14. Each User and Client is obliged to protect their passwords, e-mail accounts and data required to log in to the Exchange, in particular not to make them available to third parties.
   15. The Provider warns Clients against using the Account to attempt to receive, order, send, store or engage in any transactions, to the extent that The Provider has not declared their support, because the Exchange has not been constructed in a way that allows for the detection, securing or processing of such transactions. Any attempts at such transactions may result in the loss of funds.
7. ACCOUNT SETTINGS. ACCOUNT TERMINATION. DORMANT ACCOUNT
   1. In regard to functionality regarding Account settings, the Client has the possibility to edit the Account, including update personal information, change password, set preferences as well as enhance security.
   2. The Client has the possibility to terminate the Account at any time by following the rules specified under this T&C. The effective termination of the Account, as well as effective termination of the Contract, results in deletion of the Account by the Provider, subject to sec. 7.3.-7.6. and sec. 7.9.-7.10. below.
   3. The Client shall not be charged for terminating the Account, although the Client will be required to pay any outstanding amounts owed to Provider. In the case of Account termination, the Client authorizes the Provider to cancel any pending Transactions at the time of Account termination, as well as authorizes to deduct any outstanding amounts that the Client owes Provider, subject to sec. 7.4. below.
   4. The Provider may refuse to delete the Account or suspend the deletion of the Account in the following cases:
      1. if deletion of the Account could prevent or hinder an investigation conducted by relevant authorities,
      2. if there is any pending Transaction related to the Account,
      3. if there is any pending claim or complaint related to the Account,
      4. if the Client has any outstanding amounts owed to Provider,
      5. if the Account is subject to any seizure, security, freeze, hold, limitation, reserve or any other relevant decision of the court, enforcement authorities or any other relevant authorities pursuant to the applicable law.
   5. Before the Account is deleted, the Client shall be required to withdraw all VA held within his/her Account, particularly any Virtual Currencies held on Deposits.
   6. In the event of the Client’s failure to withdraw VA as specified in sec. 7.5. above, the Provider shall send by email to the Client the request to withdraw them immediately, but not later than within 30 days. If the Client does not follow the above request, the Provider may appropriately secure the VA, in particular it may:
      1. convert the VA held by the Client to another type of VA,
      2. transfer VA to another separate account or wallet maintained by the Provider,
      3. deposit VA in a court depository in accordance with the provisions of the applicable law,
      4. take any other action that proves justified or necessary.
   7. If the Client has not accessed the Account for a continuous period of 90 days, the Provider may send to the Client a notice of our intention to treat Client’s Account as dormant. If the Client does not respond to the above notice within 30 days, the Provider may mark Client’s Account as a dormant account and:
      1. convert the VA held by the Client to another type of VA,
      2. transfer VA to another separate account or wallet maintained by the Provider,
      3. deposit VA in a court depository in accordance with the provisions of the applicable law,
      4. take any other action that proves justified or necessary,
      5. charge the Client with fees applicable to a dormant Account and deduct them directly from the dormant Account on a monthly basis,
      6. close a dormant Account at any time.
   8. Provider is obliged to inform the Client about any event specified in sec. 7.6. or 7.7. above. The Client may request information regarding his/her VA at any time and request their withdrawal, and the Provider is obliged to verify the Client and request the account details to which the Client’s VA is to be transferred.
   9. The Client is obliged to cover the Provider for all damages and costs resulting from the Client’s delay in withdrawing VA from Client’s Account and resulting from the Provider's actions described in sec. 7.6.-7.8. above, which are made at the Client's risk and expense, which the Client acknowledges.
   10. Provider shall not be liable for any damages, losses, including loss of profit, tax obligations or any other costs or expenses incurred by the Client in respect to any of the actions specified in sec. 7.6.-7.8. above, which are made at the Client's risk and expense, which the Client acknowledges. Furthermore, in the reference to the above the Provider shall not be obliged to pay any remuneration, reward, incentive or interest to the Client, which the Provider might otherwise have agreed to pay.
8. GENERAL OBLIGATIONS OF THE PARTIES
   1. The Client and the User shall:
      1. use the Services and the Account pursuant to the provisions of the General Terms and applicable provisions of law;
      2. use the Services and the Account in a manner that will not infringe IP Rights,
      3. use the Services and the Account for their intended purpose only and for Client’s or User’s own personal use only,
      4. not resell, distribute, record, copy, share, display or otherwise use the Services or any other data related to the Services or available through the Account or the Website, for any purposes which are inconsistent with the General Terms, especially for any business, commercial, advertising or marketing purposes,
      5. use the Account, the Services and the Website in a way that does not interfere with their functioning,
      6. refrain from taking actions that hinder or may hinder the use of the Account, the Services and the Website by other Clients,
      7. refrain from posting content offensive to other Clients or the Provider or content commonly considered vulgar,
      8. not to disseminate marketing, advertising, business, commercial or pornographic content and other illegal content via the Account, the Services or the Website,
      9. not use the Services and the Account for any illegal activities.
   2. The Provider shall:
      1. provide the Services in accordance with the General Terms;
      2. make the Services available to the Client during the duration of Contract;
   3. The Provider is obliged to provide the Consumer with confirmation of the conclusion of the Contract on a durable medium within a reasonable time after its conclusion, before the start of the Services.
9. PAYMENT
   1. The Services are provided for a Fee.
      Client agrees to pay all applicable Fees in connection with the use of the Services, in accordance with the Table of fees and commissions . Information on the amount of fees charged by Provider for the withdrawal of a given VA and the number of required confirmations from the network for a deposit will be generated each time in the withdrawal or deposit order panel. Other principles of charging fees have been indicated in the Table of Fees and Commissions. The fees provided therein constitute the total of all fees that the Client must pay in connection with a given functionality that is available within the Services.
   2. In the event of delay with the payment of the Fee, the Provider shall notify the Client by e-mail about the outstanding amount and request to make this payment immediately. If the Client does not pay the outstanding amount within the 7 days from the date of the above notification is sent to the Client, the Provider is entitled to make deduction of a Fee from Client’s funds held on the Wallet within the Account or terminate the Contract with immediate effect.
   3. At the latest when the Consumer expresses his will to conclude the Contract, the Provider is obliged to obtain the Consumer's express consent for any additional payment exceeding the agreed Fee for the Provider's main contractual obligations.
   4. The Client is obliged to ensure that all payments are made by from the funds, which:
      1. originate from disclosed, transparent and legal sources,
      2. do not originate from any crimes, offences or other acts prohibited in any legal jurisdiction,
      3. are not subject to seizure, freezing, blocking or any other restriction or prohibition imposed by a court, law enforcement authority or other public authority in any legal jurisdiction,
      4. are not the subject of any criminal, fiscal, customs or other proceedings conducted under the applicable law by competent courts, law enforcement authorities or other public authorities in any legal jurisdiction,
      5. are Client’s property or Client has another, valid and fully legal title to them,
      6. are not connected in any way with money laundering or terrorism financing.
   5. Any violation of sec. 9.5. above shall constitute the material breach of the Contract and shall be considered a material breach of the Contract, in which case the Provider may use the legal remedies stipulated in sec. 13 below towards the Client.
10. QUALITY AND AVAILABILITY OF SERVICES
    1. The Provider shall make best efforts to provide the Services, including via the Website, in an uninterrupted manner, however the Client acknowledges that the provision of Services may be interrupted in the case of:
       1. maintenance, service, repair and other works that cover the IT infrastructure, including Internet connection, servers, Website, software, computers or other devices, used by the Provider to provide the Services,
       2. occurrence of any failures or disturbances in the IT infrastructure, including Internet connection, servers, Website, software, computers or other devices, used by the Provider to provide the Services.
    2. The Provider is not liable for User’s unavailability to use the Services and for any interruptions deriving from the User’s IT infrastructure, including Internet connection, software, computers or other devices, used by the User to use the Services.
    3. The Services may be unavailable due to reasons specified in sec. 10.1.1 and sec. 10.1.2. above for a certain period of time. In case if:
       1. the works specified in sec. 10.1.1. above are planned - the Provider shall notify the User at least 2 (two) calendar days in advance via e-mail, or via- publishing notification on the Website,
       2. the works specified in sec. 10.1.1. above are unplanned, but it is necessary to implement them immediately - the Provider shall notify the Client about them as soon as possible.
    4. The Provider does not grant a guarantee regarding the Services.
    5. The Provider may introduce changes to the Services, including especially the content, format, and schedule of the Services, particularly for technical or organizational reasons. Introduction of the changes to the Services shall not involve any costs on the part of the Consumer. The Provider is obliged to inform the Consumer in a clear and understandable way about the above changes in the Services.
    6. If changes to the Services referred above significantly and negatively affect the Consumer's access to the Services or the use of the Services, the Provider is obliged to inform the Consumer in advance on a durable medium about the properties and date of making the changes and about the right to terminate the Contract.
11. INTELLECTUAL PROPERTY RIGHTS
    1. The IP Rights are the ownership of the Provider to the full extent. The Provider is the owner of all IP Rights created during the performance of the Contract.
    2. Nothing in the General Terms should be read as transferring or licensing to the Client or to the User any IP Rights, unless expressly stated herein.
    3. The Client and the User may not use IP Rights or any other content relating to the Website or Services for any business, commercial, advertising or any other purposes, which are not consisted with the General Terms. In particular the Client and the User shall not resell, rent, lease, disclose, distribute, publish, record, copy, make available to third parties or otherwise use or exploit IP Rights or any other content relating to the Website or Services.
    4. The Client and the User shall not alter or modify IP Rights or any other content relating to the Website or Services or remove any copyright notices.
    5. Any violation of this sec. 11 shall be considered a material breach of the Contract, in which case the Provider may use the legal remedies stipulated in sec. 13 below towards the Client.
    6. This sec. 11 shall survive the termination of the Contract, regardless of the reason thereof.
12. PERSONAL DATA
    1. The Provider processes the Client’s and User’s personal data as described in the Provider’s Privacy Policy .
13. REMEDIES
    1. Notwithstanding any remedies provided by the applicable provisions of law, in the event of the Client breaching any provision of these General Terms, the Provider, within the limits permitted by the applicable provisions of law is authorized to:
       1. suspend provision of the Services,
       2. block the access to the Services,
       3. restrict the Client’s access to the Services,
       4. exclude the Client from the Services,
       5. terminate the Contract with immediate effect and delete the Account; provisions specified in sec. 7.3.-7.6. and sec. 7.9.-7.10 shall be applied,
       6. cancel, block or suspend of the Client’s Transaction,
       7. immediately remove any content, information, data, files and any other materials, regardless of their form and content, submitted or made available by the Client as part of the Services or on the Website or through the Website or in any other way related to the Company's activities,
       8. issue and disseminate any instructions, announcements, statements and explanations relating to committed violations of this General Terms to the other Clients through the Website and Services,
       9. take any other action that the Provider considers necessary to the cessation of the violation, removal of the effects of the violation, restoration of the lawful state or prevent future violations.
    2. Before applying Remedies specified in sec. 13.1.3.-13.1.5. or in other justified cases, Provider may set a deadline for the Client to take actions leading to the cessation of the violation, removal of the effects of the violation or restoration of the lawful state, which shall not be longer than 7 days from the date of notifying the Client about breaching General Terms. If the User fails to perform the actions indicated by the Provider within the specified period, the Provider may immediately take any Remedies it deems necessary. Provision of this sec. 13.2., however, does not exclude the right of Provider to use any Remedies immediately, if necessary.
    3. Any suspension of Services provided for in these General Terms shall be free of any liability of the Provider for any potential loss of the Clients’ VA.
14. LIABILITY OF THE PROVIDER
    1. The Provider’s liability is towards the Client only. The Provider is not liable for causing any damages to any third parties in relation to providing the Services.
    2. The Provider is not liable for any damages suffered by the Client or the User because of the Provider’s use of its legal remedies specified in sec. 13 of the General Terms.
    3. The Provider is not liable for the interruption or unavailability of Services in the cases specified in sec. 10 of the General Terms.
    4. If the Contract is concluded with the Entrepreneur, the Provider’s liability towards the Entrepreneurs is limited to the following scope:
       1. the Provider is not liable for any damages caused to the Entrepreneur, including in particular the loss, lost revenue, profit or data, except for damages caused intentionally by the Provider to the Entrepreneur,
       2. the liability of the Provider towards the Entrepreneur under the warranty for any defects in the Services is entirely excluded.
    5. In respect to the Consumers, the provisions of this sec. 14 above, do not infringe or limit the rights of Consumers and do not exclude or limit the Provider’s liability towards the Consumers, which results from the provisions of the absolutely binding law, i.e. in particular Polish statutory acts (e.g. Consumer Law, if applicable) or EU regulations, to the extent to which they are applicable and provided that they are applicable. In the event of any inconsistency between the General Terms and the provisions of the absolutely binding law, the provisions of the absolutely binding law shall prevail.
15. FORCE MAJEURE
    1. If either Party is prevented, hindered or delayed from performing its obligations under the Contract by reason of Force Majeure, failure to perform any obligations under the Contract shall not be deemed a breach of or default under the Contract and neither party shall be liable to the other therefore.
    2. The Party affected by the Force Majeure shall immediately inform the other Party about the Force Majeure and provide the information about the expected duration of the Force Majeure and the expected date of return to performance of the Contract, if that is possible. After the expiration of the Force Majeure, the Party affected by the Force Majeure shall immediately inform the other Party about it and shall immediately start perform the Agreement.
    3. During the Force Majeure the Party affected by the Force Majeure shall make efforts to minimize the effects of the Force Majeure, secure the interests of the other Party and regain the possibility of full performance of the Contract, as much as it will be reasonably possible.
16. VALIDITY OF THE CONTRACT
    1. The Contract is concluded upon acceptance of the General Terms for a indefinite period of time.
    2. Each Party has the right to terminate the Contract without giving a reason with 1 weeks’ notice.
    3. Provider is authorized to terminate the Contract with immediate effect in case of any breach of the Contract by Client.
    4. In case of the Client’s breach of the Contract or in the case of the termination of the Contract by the Provider under sec. 16.3. above, the Company may immediately undertake the Remedies that it considers necessary.
    5. The termination notice shall be made in writing or in electronic (e-mail) form, under the pain of nullity.
    6. Upon the expiration of the Contract, regardless of the reason thereof, the Client have no longer access to the Services and shall stop using any software, IP Rights, contents, data, information systems or any kind of materials, regardless of their form and content, that have been made available to the Client by the Company during the validity of the Contract. In the above event, the Company will be entitled to apply Remedies in necessary scope.
    7. Moreover, in the case referred to in sec. 10.5. of the General Terms, the Consumer may terminate the Contract with immediate effect within 30 days from the date of the change in the Services, or notification of this change, if the notification took place later than this change. The above right is vested in the Consumer, regardless of other provisions regarding the termination of the Contract. However, the Consumer is not entitled to the above-mentioned right to terminate the Contract, if the Provider has provided the Consumer with the right to keep, without additional costs, the Services in accordance with the Contract, unchanged.
    8. Effective termination of the Contract results in deletion of the Account by the Provider; provisions of sec. 7of this T&C are applicable.
    9. In respect to the Consumers, the provisions of sec. 16 of the General Terms do not infringe or limit the rights of Consumers resulting from the provisions of the absolutely binding law, i.e. in particular Polish statutory acts (e.g. Consumer Law, if applicable) or EU regulations, to the extent to which they are applicable and provided that they are applicable. In the event of any inconsistency between the General Terms and the provisions of the absolutely binding law, the provisions of the absolutely binding law shall prevail..
17. COMPLAINTS AND RESOLUTION OF CONSUMER DISPUTES
    1. Any complaints regarding the Services shall be submitted in written form to the following address: EllipX sp. z o.o. with its registered seat in Poznań, ul. Młyńska 16, 8 floor, 61-730 Poznań, or by e-mail to the following e-mail address: [email protected].
    2. The Client’s complaint shall be considered by the Provider within 14 days from the date of receipt of the complete complaint notification. The Client will be notified immediately of any deficiencies in the complaint. Along with such a notification, the Client will be sent information on how to supplement the deficiencies in the complaint.
    3. If the Provider has not responded to the Consumer’s complaint within the period specified in sec. 17.2. above, it is considered that the Consumer’s complaint has been accepted in its entirety.
    4. The response to the complaint addressed to the Consumer should be provided on paper or another durable medium.
    5. The Clients may contact the Provider by correspondence or e-mail form to the addresses specified in sec. 16.1. above or by phone no.+48 732 070 542. The fee for the Consumer for a connection to the above phone number corresponds to the fee for a regular telephone connection, in accordance with the tariff package of the service provider used by the Consumer.
    6. The Customer has the option of using extrajudicial means of dealing with complaints and pursuing claims in accordance with the procedure of Internet Dispute Resolution developed by the European Commission available at: https://ec.europa.eu/consumers/odr/main/index.cfm?event=main.home.chooseLanguage
    7. Detailed information on the possibility for the Client who is a Consumer to use out-of-court complaint and redress methods and the rules of access to these procedures are available at the offices and on the websites of poviat (municipal) consumer ombudsmen, social organizations whose statutory tasks include consumer protection, Provincial Inspectorates of the Trade Inspection and at the following Internet addresses of the Office of Competition and Consumer Protection: https://uokik.gov.pl/pomoc-dla-konsumentow.
    8. The Client who is a Consumer has the following exemplary possibilities of using out-of-court methods of dealing with complaints and pursuing claims:
       1. the Consumer is entitled to apply to the permanent amicable consumer court referred to in, inter alia, 37 of the Act of 15 December 2000 on the Trade Inspection, with a request to settle a dispute arising from the concluded Contract. The regulations for the organization and operation of permanent consumer arbitration courts are set out in the Regulation of the Minister of Justice on defining the regulations for the organization and operation of permanent arbitration courts at voivodship inspectors of the trade inspection of July 6, 2017,
       2. the Consumer is entitled to apply to the voivodeship inspector of the Trade Inspection, in accordance with, inter alia, 36 of the Act of 15 December 2000 on the Trade Inspection, with a request to initiate mediation proceedings regarding the amicable settlement of the dispute between the Customer and the Seller. Information on the rules and mode of the mediation procedure conducted by the voivodeship inspector of the Trade Inspection is available at the offices and on the websites of individual Voivodship Inspectorates of the Trade Inspection,
       3. the Consumer may obtain free assistance in resolving the dispute between the Consumer and the Provider, also using the free assistance of the poviat (municipal) consumer ombudsman or social organization whose statutory tasks include consumer protection (including the Consumer Federation, Association of Polish Consumers ). Advice is provided by the Consumer Federation at the toll-free consumer helpline number 800 007 707 and by the Polish Consumers Association at the email address: [email protected] before other bodies resolving out-of-court consumer disputes in accordance with Act on out-of-court resolution of consumer disputes (Journal of Laws of 2016, item 1823) enlisted on the website https://ec.europa.eu/consumers/odr/main/?event=main.adr.show2&lng=PL.
18. SERVICES
    1. Services shall be provided to the Client by the Provider under the Contract through the Website and in accordance with the functionalities of the Website. The detailed information regarding the Services and related to them functionalities of the Webpage shall be available on the Website and in case of any doubts the Client may contact Provider by email.
    2. The basic scope of the Services provided by the Provider shall cover:
       • Deposit,
       • Trading.
    3. Provider may also provide other services than mentioned in sec. 18.2. above. In such a case the description of such services will be available on the Webpage. This T&C will be amended accordingly then, if it would be necessary.
    4. Deposit is a tool within the Services that allows User to hold, manage and transfer various Virtual Currencies as well as other type of services, if made available on the Website, and in accordance with the functionalities of the Website. In respect to the Deposit the User may in particular:
       1. display current balance in various currencies,
       2. convert Virtual Currencies,
       3. review of the history of Transactions and details of the Transactions, including deposits, withdrawals, transfers and trades,
       4. deposit Virtual Currencies,
       5. withdraw Virtual Currencies by transferring them to external wallets or accounts.
    5. Trading constitutes making by the Users via Webpage any Transactions in accordance with the functionalities of the Website. In order to execute a Transaction, the User places the Disposition on the Webpage. In respect to the Trading the User may in particular:
       1. view the market, i.e. display live prices, charts, order book, trade history,
       2. use charting tools, i.e. graphic curve overview and analysis tools,
       3. place any Dispositions, particularly to buy and sell VA, including Virtual Assets, as well as make any other available type of Transaction in accordance with the functionalities of the Website and cancel it before execution if the Website enables such cancellation,
       4. view and manage all Dispositions, including especially open orders, filled orders and trading history,
       5. match other Users in order to perform the Transaction (trading pairs),
       6. display all trading fees before confirmation of Disposition.
19. ELECTRONIC SERVICES
    1. The Provider enables the use of Electronic Services via the Account or the Website, including:
       1. Deposit Services,
       2. Trading services,
       3. browsing the information posted on the Website, including offers of available Services,
       4. keeping and editing the Account,
       5. chat service,
       6. information services (newsletter).
    2. Electronic Services are provided by the Provider 24 hours a day, 7 days a week.
    3. Electronic Services are services provided electronically within the meaning of the Act of 18 July 2002 on the provision of electronic services (Journal of Laws No. 144, item 1204, as amended) and implemented in accordance with the law. In matters not covered by the General Terms, the provisions of the Act of 18 July 2002 on the provision of electronic services (Journal of Laws No. 144, item 1204, as amended) shall apply.
    4. The contract for the provision of Electronic Services referred to in sec. 19.1. points c) and e) above is concluded when the Client starts using the Website to the appropriate extent, and is terminated when the Client leaves the Website. The above-mentioned Electronic Services are provided free of charge.
    5. The contract for the provision of Electronic Services consisting in keeping and editing the Account (sec. 19.1. point d) is concluded upon effective registration of the Account, in accordance with the provisions of the General Terms. The above Electronic Service is free of charge.
    6. Electronic Services consisting in keeping and editing the Account are provided under sec. 7.1. of this T&C and only during the term of the Contract. The termination of the Account or expiry of the Contract on the terms provided for in the General Terms results in the expiry of the obligation to provide this Electronic Service.
    7. The contract for the provision of Electronic Services consisting in Wallet services (sec. 19.1. point a) is concluded upon effective registration of the Account, in accordance with the provisions of the General Terms. The above Electronic Service is payable and the Client shall be charged with a Fee pursuant to the Table of fees and commissions . Wallet services are provided pursuant to sec. 18.4. of the General Terms and only during the term of the Contract. The termination of the Account or expiry of the Contract on the terms provided for in the General Terms results in the expiry of the obligation to provide this Electronic Service.
    8. The contract for the provision of Electronic Services consisting in Trading services (sec. 19.1. point b) is concluded upon effective registration of the Account, in accordance with the provisions of the General Terms. The above Electronic Service is payable and the Client shall be charged with a Fee pursuant to the Table of fees and commissions . Trading services are provided pursuant to sec. 18.5. of the General Terms and only during the term of the Contract. The termination of the Account or expiry of the Contract on the terms provided for in the General Terms results in the expiry of the obligation to provide this Electronic Service.
    9. The Electronic Service consisting in the chat service (sec. 19.1. point e) consists in enabling the Client or User to contact the Provider by means of a message sent via the chat located on the Website. The chat message initiates a "live" conversation with consultant on the Provider's side, in the case and scope of its availability. The chat is used to ask questions about the Services or Account. Chat functionalities allow you to identify a specific person and link them to other recorded activity on the Account, which allows you to customize the offer and provide professional service. Chat services are not a subject to any specific Fee.
    10. If the Client has agreed to receive commercial/marketing information by selecting the appropriate option on the Website or Account or in any other way, it means that the Provider will provide the Client with an Electronic Service free of charge in the form of a newsletter service (sec. 19.1. point f), consisting in sending commercial information, in particular regarding goods, services or other benefits offered by the Provider by means of communication selected by the Client, e.g. to the e-mail address provided by the Client or via SMS/MMS. The Client may at any time withdraw consent to receive commercial information on the terms set out in the Privacy Policy, which will result in resignation from the newsletter service. Withdrawal of consent does not affect the lawfulness of data processing before its withdrawal.
    11. The Provider has the right to organize occasional competitions and promotions, the terms and conditions of which will be published on the Website each time. Promotions cannot be combined, unless the regulations of a given promotion provide otherwise.
    12. Complaints regarding Electronic Services provided by the Provider may be submitted in electronic form to the Provider's e-mail address: [email protected]. The Provider will consider the complaint immediately, but not later than within 14 days from the date of receipt of the complaint and will reply to it by e-mail within this period.
20. APPLICABLE LAW AND DISPUTE RESOLUTION
    1. In respect to the Entrepreneurs, the Contract shall be construed with and governed by the laws of the Republic of Poland unless otherwise provided by applicable law.
    2. In respect to the Entrepreneurs, all disputes between the Provider and the Entrepreneur shall be resolved by the local court competent due to the registered seat of the Provider, unless otherwise provided by applicable law.
    3. With regard to the Consumers, the governing law and court jurisdiction are specified by the relevant provisions of law, in particular the Consumer Law, which are applicable.
21. MODIFICATIONS OF GENERAL TERMS
    1. The introduction of changes to the General Terms by the Provider is acceptable if such a need arises from changes in the rules for the provision of Services or Electronic Services, or changes of an organizational nature regarding the Provider, or resulting from applicable provisions of law.
    2. The amendments introduced to the General Terms shall be disclosed to the Clients through the Website, Account or via e-mail correspondence.
    3. Before accepting the General Terms, the Client shall always review the current version of the General Terms.
    4. Introduction of the amendments to the General Terms shall not affect any concluded Contracts and Services in progress, unless otherwise provided by applicable law or accepted by both Parties.
    5. The Client will be notified of any amendments made to the General Terms and the amended General Terms will be effective upon their disclosure and acceptance by the Client. Continuing to use the Services after the amended General Terms become disclosed, constitutes a binding acceptance of the Client of such amendments.
22. COMMUNICATION
    1. The Parties will communicate via e-mail, phone, chat.
    2. If any information systems are made available to the Client the Parties may also communicate via those information systems.
23. FINAL PROVISIONS OF GENERAL TERMS
    1. The original language of the General Terms is English.
    2. Notwithstanding other provisions of this T&C and any remedies provided by applicable law, either Party may set off (deduct) any amounts it owes to the other Party under the Contract.
    3. Neither Party may transfer any rights or obligations under the Contract to another person or entity without the prior consent of the other Party expressed in writing under pain of nullity.
    4. It is the Client’s liability to determine what, if any, taxes apply to payments made or received by the Client, and it is the Client’s liability to collect, report and remit the appropriate tax to the appropriate tax authority. Provider is not liable for determining whether any taxes apply to the use of the Services, or for collecting, reporting or remitting any taxes arising from any Transaction or use of the Services, unless otherwise expressly provided by applicable law. Client acknowledges and agrees that Provider may prepare certain reports to tax authorities or other appropriate public authorities regarding Transactions made on the Website, and that Provider may provide Client with additional documentation or records needed to calculate any tax liability, if necessary. Provider may also be authorized to deduct and remit any taxes from the Client under applicable law, which Client acknowledges and agrees to.
    5. If any provision of the General Terms is or becomes invalid or ineffective, this shall not affect the validity and effectiveness of the remaining provisions in any way. In the above situation, the invalid or ineffective provisions shall be replaced by the provisions of applicable law.

Valid from September 30, 2024