Skraps Terms and Conditions

Last updated: 01.03.2020.

1. Introduction

The Terms and Conditions (“Terms”) describe how Company is Skraps, LLC, incorporated in California, (“Company” or “we”) regulates your use of this website (the “Site”). Please read the following information carefully to understand our practices regarding your use of the Site. The Company may change the Terms at any time. The Company may inform you of the changes to the Terms using the available means of communication. The Company recommends that you check the Site frequently to see the actual version of the Terms and their previous versions.

The Site allows you to invest in a diversified portfolio of cryptocurrencies and tokens (the “Services”). You shall be aware of risks arising from acquiring cryptocurrencies and tokens in the context of the cryptographic nature of tokens, cryptocurrency, the uncertainty of its legal regulation, and blockchain-based software and services.

You may acquire or invest in cryptocurrencies and tokens only if you possess professional knowledge and you have assessed all potential risks. Any acquisition of cryptocurrencies and tokens shall only be undertaken by individuals and representatives of legal entities who have significant knowledge, experience, and the understanding of cryptocurrencies, cryptographic tokens and blockchain based software and services. You also shall seek for legal, tax, investment and financial advice before purchasing or investing in any cryptocurrencies and tokens.

The issuers of cryptocurrencies and tokens may issue guidelines for usage and other aspects of cryptocurrencies and tokens at any time. You are responsible for the understanding of how cryptocurrencies, cryptographic tokens, and blockchain-based software and services work. You shall understand potential risks arising from the cryptocurrencies and tokens.

We shall not be responsible for any liability, accident, harm, loss, delay, inconvenience or damage, including but not limited to, personal injury, property damages, or death, and cost or expense, all reasonable, caused to the acquirer due to the actions or inactivity of the Company, its managers, directors, employee or other personnel, controlled companies or third party partners unless the applicable law requires otherwise. In case if the applicable law prohibits such disclaimers partly or fully, this this paragraph shall apply to the extent allowed by the applicable law.

The Terms constitute the entire agreement between you and the Company regarding the enjoyment of the Site and the Terms supersede all prior or communications and offers, whether electronic, oral or written, between you and the Company.

If you represent a legal entity, you certify that you entitled by such a legal entity to conclude the Terms as the legal entity you represent.

2. Privacy Policy

Our Privacy Policy is available on a separate page. Our Privacy Policy explains to you how we process your personal data. You shall understand that through your use of the Site you acknowledge the processing of this information shall be undertaken in accordance with the Privacy Policy.

3. Your Account

When using the Site, you shall be responsible for ensuring the confidentiality of your account, password and other credentials and for secure access to your device. You shall not assign your account to anyone. The Company is not responsible for unauthorized access to your account that results from misappropriation or theft of your account. The Company may refuse or cancel Services, terminate your account, and remove or edit content.

The Company does not knowingly collect personal data from persons under the age of 16 (sixteen). If you are under 16 (sixteen) years old, you may not use the Site and may not enter into the Terms under any circumstances.

4. Services

The Site allows you to use Services available on the Site. You shall not use the Services for the illegal aims.

We may, at our sole discretion, set fees for using the Site for you. All prices are published separately on relevant pages on the Site. We may, at our sole discretion, at any time change any fees.

We may use certified payment systems which also may have their commissions. Such commissions may be implied on you when you choose a particular payment system. Detailed information about commissions of such payment systems may be found on their websites.

5. Subscription

Your monthly subscription for Skraps Services will start when the Company confirms your payment and will continue for a period of thirty days. When you purchase a monthly subscription, auto-renew is automatically selected in your Skraps Account. At the end of the monthly subscription period, you will automatically be signed up and billed for an additional subscription term of 30 days at then-current pricing. If you do not wish your subscription to auto-renew, you may uncheck the auto-renew box in your Skraps Account prior to the end of your current subscription term.

Subscriptions are non-cancelable and non-returnable. You may change your auto-renewal preferences in your Skraps Account, but no refunds will be paid on any remaining subscription period.

If you allow your Subscription to lapse, on a subscription basis, you will no longer have access to your Skraps Services.

An internet connection is required to use and manage the Services on a subscription basis.

Subscription pricing is subject to change. New pricing takes effect upon renewal of your subscription for Services.

6. Withdrawals

Irrespective of the nature and form of any withdrawal request, whether initiated by you or otherwise, the Company reserves the right to process and send withdrawals using any one or more Digital Tokens. In the course of processing and sending any withdrawals, the Company may be required to share your customer information with other contractual third parties. You hereby irrevocably grant full permission and authority for the Company to share this information with such contractual third parties and release the Company from any liability, error, mistake, or negligence related thereto.

7. Abandonment of Services

Where you have not logged into your account on the Site for an uninterrupted period of two years, Skraps thereafter reserves the right to deem any and all Digital Tokens that you hold on the Site to be abandoned, with or without notice to you. If your property is abandoned, we will engage in a process to determine the abandoned property’s owner (including successors-in-interest and next-of-kin). This process will be subject to servicing and administration fees to be levied on and collected out of the property by the Company. Any amounts greater than our servicing and administration fees will be paid to the property’s owner, when and if found.

8. Third Party Services

The Site may include links to other sites, applications, and platforms (hereinafter the “Linked Sites“).

The Company does not control the Linked Sites, and shall not be responsible for the content and other materials of the Linked Sites. The Company makes these links available to you for providing the functionality or Services on the Site.

9. Prohibited Uses

The Company grants you a non-transferable, non-exclusive, revocable license to access and use the Site from one device in accordance with the Terms.

You shall not use the Site for unlawful or prohibited purpose including but not limited to:

  • using the Site or any Services in order to disguise the proceeds of, or to further, any breach of applicable laws or regulations, or to deal in any contraband Digital Tokens, funds, or proceeds;
  • trading or obtaining financing on the Site, or use any Services, with anything other than funds, keys, or Digital Tokens that have been legally obtained by you and that belong to you;
  • using the Site or any Services to interfere with or subvert the rights or obligations of the Company or the rights or obligations of any other Site customer or any other third party;
  • Using inaccurate information presented by the Site or by the Company or taking advantage of any technical glitch, malfunction, failure, delay, default, or security breach;
  • using the Site or any Services to engage in conduct that is detrimental to the Company or to any other Site customer or any other third party;
    falsifying any account registration details provided to the Company;
  • falsifying or materially omitting any information or provide misleading information requested by the Company, including at registration;
  • reverse-engineering, decompiling, or disassembling any software running on the Site;
  • attempting to harm the Company or any third party through your access to the Site or any Services, except that nothing in this subparagraph shall be construed as limiting your free speech rights under applicable law;
  • where you are a resident or national of a Prohibited Jurisdiction or a U.S. Person, accessing the Site or any Services using any virtual private network, proxy service, or any other third party service, network, or product with the intent of disguising your IP address or location; or,
  • violating these Terms of Service.

10. Intellectual Property

All content present on the Site includes text, code, graphics, logos, images, compilation, software used on the Site (hereinafter and hereinbefore the “Content“). The Content is the property of the Company or its contractors and protected by intellectual property laws that protect such rights. You agree to use all copyright and other proprietary notices or restrictions contained in the Content and you are prohibited from changing the Content.

You may not publish, transmit, modify, reverse engineer, participate in the transfer, or create and sell derivative works, or in any way use any of the Content. Your enjoyment of the Site shall not entitle you to make any illegal and disallowed use of the Content, and in particular you shall not change proprietary rights or notices in the Content. You shall use the Content only for your personal and non-commercial use. The Company does not grant you any licenses to the intellectual property of the Company.

11. The Company Materials

By posting, uploading, inputting, providing or submitting your Content you are granting the Company to use your Content in connection with the operation of Company’s business including, but not limited to, the rights to transmit, publicly display, distribute, publicly perform, copy, reproduce, and translate your Content; and to publish your name in connection with your Content.

No compensation shall be paid with regard to the use of your Content. The Company shall have no obligation to publish or enjoy any Content you may send us and may remove your Content at any time.

By posting, uploading, inputting, providing or submitting your Content you warrant and represent that you own all of the rights to your Content.

12. No Advice

The Company does not provide any investment advice or advice on trading techniques, models, algorithms, or any other schemes.

13. No Representations & Warranties

The Company makes no representations, warranties, or guarantees to you of any kind. The Site and the Services are offered strictly on an as-is, where-is basis and, without limiting the generality of the foregoing, are offered without any representation as to merchantability or fitness for any particular purpose.

14. Limitation of Liabilities and Release

Except as may be provided for in these Terms of Service, the Company assumes no liability or responsibility for and shall have no liability or responsibility for any claim, application, loss, injury, delay, accident, cost, business interruption costs, or any other expenses (including, without limitation, attorneys’ fees or the costs of any claim or suit), nor for any incidental, direct, indirect, general, special, punitive, exemplary, or consequential damages, loss of goodwill or business profits, work stoppage, data loss, computer failure or malfunction, or any and all other commercial losses (collectively, referred to herein as “Losses”) directly or indirectly arising out of or related to:

  • these Terms of Service;
  • the Site, and your use of it;
  • the Services, and your use of any of them;
  • the real or perceived value of any currencies or Digital Tokens used on the Site, or the price of any Digital Token displayed on the Site at any time;
  • any inaccurate, misleading, or incomplete statement by the Company or on the Site regarding your account, whether caused by the Company’s’ negligence or otherwise;
  • any failure, delay, malfunction, interruption, or decision (including any decision by the Company to vary or interfere with your rights) by the Company in operating the Site or providing any Service;
  • any stolen, lost, or unauthorized use of your account information any breach of security or data breach related to your account information, or any criminal or other third party act affecting the Company or any Associate; or,
  • any offer, representation, suggestion, statement, or claim made about the Company, the Site, or any Service by any Associate.

You hereby agree to release the Company from liability for any and all Losses, and you shall indemnify and save and hold the Company harmless from and against all Losses. The foregoing limitations of liability shall apply whether the alleged liability or Losses are based on contract, negligence, tort, unjust enrichment, strict liability, or any other basis, even if the Company has been advised of or should have known of the possibility of such losses and damages, and without regard to the success or effectiveness of any other remedies.

15. Force Majeure

The Company is not responsible for damages caused by delay or failure to perform undertakings under these Terms of Service when the delay or failure is due to fires; strikes; floods; power outages or failures; acts of God or the state’s enemies; lawful acts of public authorities; any and all market movements, shifts, or volatility; computer, server, or Internet malfunctions; security breaches or cyberattacks; criminal acts; delays or defaults caused by common carriers; acts or omissions of third parties; or, any other delays, defaults, failures or interruptions that cannot reasonably be foreseen or provided against. In the event of force majeure, the Company is excused from any and all performance obligations and these Terms of Service shall be fully and conclusively at an end.

16. Indemnification

You agree to indemnify, defend and hold harmless the Company, its managers, directors, employees, agents, and third parties, for any costs, losses, expenses (including attorneys’ fees), liabilities regarding or arising out of your enjoyment of or inability to enjoy the Site or its Services and Company’s Services and products, your violation of the Terms or your violation of any rights of third parties, or your violation of the applicable law. The Company may assume the exclusive defense and you shall cooperate with the Company in asserting any available defenses.

17. Termination and Access Restriction

The Company may terminate your access and account to the Site and its related Services or any part at any time, without notice, in case of your violation of the Terms.

18. Governing Law

These Terms of Service shall be governed by and construed and enforced in accordance with the laws of the California and shall be interpreted in all respects as a California contract. Any claim or action arising from or related to these Terms of Service shall be governed by and construed and enforced in accordance with the laws of California. For the avoidance of doubt, and without limiting the generality of the foregoing, this provision expressly applies to any tort claim against the Company. The venue and forum for any claim or action against or involving the Company shall be in California. You unconditionally attorn to the exclusive jurisdiction of the courts of the California and all courts competent to hear appeals therefrom. You also unconditionally agree to the exclusive forum and venue of the California in all claims or actions arising from or any dispute or question of any kind relating to these Terms of Service. The doctrine of forum non conveniens shall not apply in the selection of forum under these Terms of Service.

19. Miscellaneous

No joint venture, partnership, employment, or agency relationship shall be implied between you and the Company as a result of the Terms or use of the Site.

Nothing in the Terms shall be a derogation of the Company’s right to comply with governmental, court,police, and law enforcement requests or requirements regarding your enjoyment of the Site.

20. Assignment and Severability

These Terms of Service, and any of the rights, duties, and obligations contained herein, are not assignable by you without prior written consent of the Company. These Terms of Service, and any of the rights, duties, and obligations contained herein, are freely assignable by the Company without notice or your consent. Any attempt by you to assign these Terms of Service without written consent is void.

If any provision of these Terms of Service, as amended from time to time, is determined to be invalid, void, or unenforceable, in whole or in part, by any court of competent jurisdiction, such invalidity, voidness, or unenforceability attaches only to such provision and everything else in these Terms of Service continues in full force and effect.

21. No Class Proceedings

You and the Company agree that any party hereto may bring claims against the others only on an individual basis and not as a plaintiff or class member in any purported class or representative action or proceeding. No adjudicator may consolidate or join more than one person’s or party’s claims and may not otherwise preside over any form of a consolidated, representative, or class proceeding. Any relief awarded to any one Site user cannot and may not affect any other Site users.

22. Jurisdiction and Applicable Law

Any claim, dispute or controversy of whatever nature arising out of or relating to these terms of use shall be resolved by final and binding arbitration in accordance with the process described in the section titled “binding arbitration and applicable law” below. Please read the section titled “binding arbitration and applicable law” carefully.

23. Anti-Money Laundering and Counter-Terrorist Financing

The Company is committed to providing you with safe, compliant, and reputable Services. Accordingly, the Company insists on a comprehensive and thorough customer due diligence process and implementation and ongoing analysis and reporting. This includes monitoring of and for suspicious transactions and mandatory reporting to international regulators. The Company needs to keep certain information and documentation on file pursuant to applicable law and its contractual relationships, and the Company hereby expressly reserves the right to keep such information and documentation. This will apply even when you terminate your relationship with the Company or abandon your application to have an account.

The Company reserves the right to refuse registration to, or to bar transactions from or to, or terminate any relationship with, any customer for any reason (or for no reason) at any time. Without limiting the generality of the foregoing, this includes, but is not limited to, anyone from or in jurisdictions that do not meet international AMLCTF standards as set out by the FATF; anyone that is a Politically Exposed Person within the meaning of the FATF’s 40 recommendations; or, anyone that fails to meet any customer due diligence standards, requests, or requirements of the Company. In lieu of refusing registration, the Company may perform enhanced customer due diligence procedures. At all times, you may be subject to enhanced customer due diligence procedures in your use of the Site and any Service.

24. Complaints

We are committed to resolve any complaints. If you would like to make a complaint regarding the Terms or our practices, please contact us. We will reply to your complaint as soon as we can and in any event, within 30 days. We hope to resolve any complaint brought to our attention, however if you feel that your complaint has not been adequately resolved, you reserve the right to contact your local supervisory authority.

25. Contact Information

We welcome your comments or questions about the Terms. You may contact us at [email protected].