This Agreement is between you (“your”) and the Contracting Entity (“we”, “our”, “us”) ，Phemex UAB (registration number: 306047839), a company established under the laws of the Republic of Lithuania and having its registered office at Laisvės pr. 60 Vilnius, Lithuania.
Please take a moment to read the Agreement carefully, as by accessing this section of our website (the “Site”) and/or using any of the Services we offer, YOU AGREE THAT YOU HAVE READ, UNDERSTOOD, ACCEPT AND WILL COMPLY FULLY WITH ALL THE TERMS AND CONDITIONS CONTAINED IN THE AGREEMENT.
Please read the terms carefully as they govern your use of phemex’s credit/debit card payment services. As with any asset, the values of digital assets may fluctuate significantly and there is a substantial risk of economic losses when purchasing, selling, holding or investing in cryptocurrencies. By making use of Phemex credit/debit card payment services, you acknowledge and agree that: (1) you are aware of the risks associated with transactions of cryptocurrencies ; (2) you shall assume all risks related to the use of credit/debit card payment services and transactions of cryptocurrencies; (3) Phemex shall not be liable for any such risks or adverse outcomes; and (4) you should obtain independent legal and/or financial advice before entering into any transaction and/or using phemex’s credit/debit card payment services.
Please note that we are not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using Phemex credit/debit card payment service, No communication or information provided to you by Phemex is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. Unless otherwise specified in these Terms, all trades are executed automatically, based on the parameters of your order instructions and in accordance with posted Trade execution procedures, and you are solely responsible for determining whether any investment, investment strategy, or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance, and you shall be solely responsible for any loss or liability from there. You should consult legal or tax professionals regarding your specific situation. Phemex does not recommend that any cryptocurrencies should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any cryptocurrencies you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. Phemex will not be held responsible for the decisions you make to buy, sell, or hold cryptocurrency based on the information provided by Phemex.
1.1. By using the Services, you expressly represent and warrant that:
- a) you are at least 18 years old;
- c) you are in full compliance with all applicable laws of your jurisdiction.
2. RISK DISCLOSURE
2.1.You should never trade more than you can afford to lose when purchasing and selling cryptocurrency. Prices are highly volatile, therefore the value of your assets may increase or decrease at any time.
2.2. Cryptocurrency also subjects you to operational risks, such as the possibility of incurring losses due to hardware, software, or Internet connection failures.
2.3. This is not an exhaustive list of the hazards connected with the purchase and sale of cryptocurrency. Therefore, you should evaluate your financial status, risk tolerance, appropriate expertise, and information BEFORE making a purchase. You should also consult with an impartial and appropriately licensed financial counselor.
3.1. We provide you a platform to buy or sell supported cryptocurrency, as may be updated by us from time to time (“Cryptocurrency”).
3.2. You can purchase Cryptocurrency on our platform, and we will transfer it to your Spot Wallet Address on our platform (a “Purchase”).
3.3. Orders through us are one-off transactions and executed individually.
3.4. Together, the services set out in this clause 3 are referred to as the “Services” in this Agreement.
4. ELIGIBILITY AND COMPLIANCE
4.1. You agree, warrant, and represent that:
- a) you have the legal authority to engage in this Agreement; you will use the Site and Services in accordance with our terms of service; and you will fulfill your commitments in full.
- b) your usage of the Services will comply with all laws applicable to you based on your jurisdiction and you will not use the Services for any criminal or unlawful purposes.
- c) you will only use the Services for your own purposes and not on behalf of any third parties.
- d) that any Fiat and/or Cryptocurrency you use with the Services is yours and derived from legal sources.
5. ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING REGULATIONS (AML AND CTF REGULATIONS)
5.1. As part of the global initiative to combat financial crimes, in particular Money Laundering (ML) and Terrorism Financing (TF), we have regulatory obligations that include implementing Customer Due Diligence (CDD) measures.
5.2. This means we are legally obliged to know who our customers are, and we fulfill this requirement by requesting information from you, including personal information, to authenticate and verify your identity.
5.3. Such information may include your full name, home address, phone number, email address, date of birth, country of residence, nationality, government-issued identification, tax identification number, social security, bank account information, a liveness video or photograph, the purpose of the transaction and the source of your funds (“Customer Due Diligence Documents”).
5.4. The nature and extent of the information we request may differ based on our risk assessment policy. In some instances, we may contact you to obtain additional Customer Due Diligence Documents, and we will not be able to process your order until the information requested is provided in a timely manner and to our satisfaction.
5.5. You confirm that all information you provide to us is accurate and complete and agree to keep us updated if any information provided changes.
5.7. You also authorize us to make inquiries, whether directly or through third parties, that we consider necessary to verify your identity. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference, fraud prevention, or financial crime agencies
6. NO LIABILITY FOR ERRORS
6.1. You agree and declare that you are solely responsible for any inaccuracy in the instructions you supply to us, such as inaccurate, erroneous, or incomplete wallet address and/or card information.
7. SAFETY AND SECURITY
7.1. You agree and represent that we are not liable for damages, losses, or interruptions caused by any computer viruses or other malicious code that may affect your computer or other equipment, or any phishing, spoofing, or another attack. We advise the regular use of reputable and readily available virus screening and prevention software. You should also be aware that websites, SMS, and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from us or supported/endorsed by us.
7.2. You agree to take all reasonable steps to protect your Cryptocurrency, wallet, account, computer, software, bank account, address and personal data against theft, fraud, hacking or any criminal or illegal activity.
7.3. YOU ACKNOWLEDGE THAT WE MAY AT ANY TIME AND IN OUR SOLE DISCRETION, REFUSE ANY ORDER SUBMITTED VIA THE SERVICES, IMPOSE LIMITS ON THE TRANSACTION AMOUNT PERMITTED VIA THE SERVICES, OR IMPOSE ANY OTHER CONDITIONS OR RESTRICTIONS UPON YOUR USE OF THE SERVICES WITHOUT PRIOR NOTICE.
8. PAYMENT METHODS
8.1. For bank/wire transfers, credit/debits cards you agree and represent that:
- a) when you make a payment in connection with your order, you will use:
(i) a bank account;
(ii) credit/debit card; and
belonging only to yourself (not that of a third party or legal entity) and that the name/owner of such account and/or card will match the name on the KYC Documents you provide to us; and
8.2. you will not make any chargebacks, and/or deny or reverse any payments or deposits that you have made.
8.3. If you make any inappropriate chargebacks, we reserve the right to place you on a blacklist and to discontinue providing any future services to you. In addition, we retain the right to file a claim for damages against you.
8.4. For card payments, you acknowledge that we shall not be liable for unauthorised use by any third party of credit/debit cards, irrespective of whether or not the credit/debit cards were reported stolen.
9. NO GUARANTEE OF PAYMENT METHODS
9.1. The availability of a particular form of payment is contingent upon a number of circumstances. One of these considerations is the location of the person making the payment, as well as any restrictions imposed by the payment processors and the financial institutions involved.
10. CASH ADVANCE FEES FOR CREDIT CARD PAYMENTS
10.1. Please note that if you use a credit card to Purchase Cryptocurrency, your credit card provider may categorize the transaction as a cash advance. In such circumstances, cash advance fees and higher interest rates (for example, interest accruing as soon as the transaction is executed) may apply. Please switch to debit card payments or bank transfers to avoid unexpected fees. You acknowledge that you will be responsible for paying any unanticipated expenses that may arise.
11.1. The price for the Purchase and Sale of Cryptocurrency comprises an exchange rate that we set and our commission fee; additional fees may apply depending on the jurisdiction and transfer method (the “Price”).
11.2. Please note that the initial price displayed on the Site for the Purchase or Sale of Cryptocurrency is merely indicative.
11.3. The final price is the locked-in price that appears on the Site right before your order is executed (the “Final Price”). By clicking the ‘Order’ button you are executing your order (an “Execution”) and authorizing us to process the transaction at the Final Price.
12.1. Until Execution, any order by you shall be considered as pending and not completed.
12.2. Upon Execution, the order is final and binding, and we will process the order (subject to the completion of CDD procedures to our satisfaction) in accordance with the instructions we receive from you.
12.3. REGARDLESS, PLEASE NOTE THAT WE RESERVE THE RIGHT NOT TO EXECUTE ANY AND ALL TRANSACTIONS.
12.4. In some cases, we may contact you to obtain additional KYC Documents in an attempt to avoid declining a transaction or order. We are unable to guarantee the Final Price if you do not respond immediately and reserve the right to re-quote a new Final Price in instances where there is undue delay.
12.5. You acknowledge and agree that Cryptocurrency price is volatile and can change at any time thereby increasing or losing value either in your favor or otherwise.
12.6. YOU AGREE AND REPRESENT THAT YOU WILL VERIFY ALL TRANSACTION INFORMATION PRIOR TO SUBMITTING AN ORDER TO US AND THAT WE ARE NOT RESPONSIBLE FOR ENSURING THAT THE INFORMATION YOU PROVIDED TO US IS ACCURATE AND/OR COMPLETE.
13.1. After Execution and as soon as reasonably practicable:
- where you Purchase Cryptocurrency, we shall deliver the Cryptocurrency to your spot wallet at Phemex. While we will attempt to transfer the Cryptocurrency without undue delay, please note that the transfer may take some time to be processed;
- where you Sale Cryptocurrency, we shall deliver the relevant Fiat using the payment details you provided during the placement of your Sale order; and
- We shall also provide you, on the Site, with a transaction confirmation, detailing the Final Price and other particulars of the transaction.
14.1. You acknowledge and agree that any order or transaction once marked as executed or completed cannot be canceled, changed, or reversed.
14.2. We may, at any time, cancel or deny processing any order, with immediate effect, for any reason, including but not limited to where we are required to do so by law; where we reasonably believe that we need to do so in order to protect our reputation; and where we reasonably suspect the order or transaction involves illegal activity including money laundering, terrorist financing, fraud or any crime (financial or otherwise).
15. UNSUCCESSFUL PAYMENTS
15.1. You acknowledge and agree that if your payment method is declined, whether due to insufficient funds or deemed unsuccessful for any other reason, we may:
- a) cancel the transaction;
- b) fulfill only a portion of the transaction; or
- c) debit alternative payment methods provided by you, in the amount necessary to complete a pending transaction.
15.2. If any fees are applied on failed payment attempts in the course of executing your Sale order, and such failure is reasonably attributed to an error by you, such fees shall be deducted from either:
- a) the amount of Fiat that is transferred to you if the order is subsequently executed; or
- b) the amount of Cryptocurrency that is returned to you if the order is declined and the Cryptocurrency is returned.
16. REFUND POLICY
16.1. Due to the irreversible nature of Cryptocurrency transactions, we are unable to provide any refunds on executed or completed orders, including instances:
- a) where we have purchased Cryptocurrency on your behalf, and in the case of bank transfer purchases of Cryptocurrency regardless of receipt of proof of payment; or
- b) where we have delivered Cryptocurrency to your Nominated Wallet Address.
17. REFUND RIGHTS
17.1. You are entitled to a refund where an unauthorized or incorrect transaction occurs as a result of our fault, provided you have notified us within 7 days of its occurrence, and you have not acted fraudulently, intentionally, or negligently.
17.2. You can only request for a refund within 7 days since the payment was made.
If and only if you have not performed any trading activity nor subscribed to any earning program. You are going to be charged 1 EUR for each refund. The Foreign Exchange rate(“FX” rate) might be different from the days of your purchase and will be based on the day we execute the refund. For example, during your purchase: 1 USDT = 0.93 EUR. During the day, we execute your refund: 1 USDT = 0.95 EUR.
18. AMENDMENTS TO THE AGREEMENT
18.1. Any of the terms and conditions outlined in the Agreement are subject to occasional updates, amendments, modifications, and other forms of alteration at our discretion. We shall keep you apprised of any amendments, modifications, updates, and changes to the Agreement by either sending you an email or publishing a revised version of the document on this website. Your continued use of the Site and/or the Services after this period will be taken to indicate that you accept the new version of the Agreement and any updated version of the Agreement will go into effect as soon as they are published on the Site.
19. TERMINATION OF THE AGREEMENT
19.1. We may, at any time, terminate the Agreement, with immediate effect, for any reason, including but not limited to where:
- a) we are required to do so by law, regulation, competent court order, or other competent authority;
- b) we reasonably believe that we need to do so in order to protect our reputation;
- c) we consider you to be in breach of the provisions contained in the Agreement, or applicable law or regulation or in conflict with our compliance policies;
- d) we reasonably suspect illegal activity including money laundering, terrorist financing, fraud or any crime (financial or otherwise);
- e) any of our third-party service providers deny providing you the Services;
- f) force majeure events, including operational and technical errors occurs; and
- g) upon our request, you have failed to provide us with information, or the information provided does not meet our requirements.
19.2. Where termination of the Agreement is for reasons listed in (a), (c) or (d), we reserve the right to:
- a) cancel any outstanding or pending Purchase and/or Sale orders; and
- b) as applicable, withhold any Fiat which you have paid to us for the purchase of Cryptocurrency, or withhold any Cryptocurrency that you have transferred to us for the Sale of Cryptocurrency, provided, in each case, that we shall not be required to transfer Fiat or Cryptocurrency to you.
20. RETAINING OR ERASING INFORMATION
Following the termination of the Agreement, we may retain your personal information for as long as we have a business or tax need or as required under applicable laws; provided however, in cases where such a need or legal requirement does not exist, we shall erase and discard your data upon your written request, subject to the requirements of applicable data protection legislation.
21. ACCESS & AVAILABILITY
Although we strive to provide you with a high standard of service, we cannot guarantee that the Site and Services will be available without interruption, secure, error-free or free from any digital attack. Further, access to the Site and Services may become degraded or unavailable, especially during times of significant volatility or volume, and this could result in the inability to Purchase and Sell for periods of time.
22. SITE ACCURACY & CHANGES
Although we strive to provide you with accurate and timely information on the Site, the content may not always be correct, complete or current and may include technical inaccuracies or typographical errors. As such, you should verify all content and information contained on the Site before relying on it. In an effort to provide you with as complete and as precise information as possible – information may be changed or updated from time to time, without notice to you.
23. PERSONAL INFORMATION
- a) your disclosure to us of any personal information was or will be made in accordance with all applicable data protection and data privacy laws, and those data are accurate and complete when disclosed; and
23.2. Please note that we understand how important your privacy is and we are committed to protecting the security and confidentiality of the personal information you entrust to us.
24. THIRD PARTY SERVICES
24.2. Additionally, we may subcontract parts of our Services or our obligations hereunder to independent third-party providers without notice to you.
24.3. You acknowledge and agree that we may use, share and transfer your personal information to the third-party providers of the Third Party Services for the purpose of providing you with the Services or the improvement thereof, as well as to comply with AML and CTF regulations, procedures, and guidelines.
24.4. You hereby irrevocably appoint and authorize us to act as your agent and to exercise on your behalf all of your rights and powers with the third-party providers of the Third Party Services.
25. DISCLAIMER OF WARRANTIES
THE SITE AND SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, AND WE SPECIFICALLY DISCLAIM AND YOU WAIVE, ALL REPRESENTATIONS AND WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, TO THE MAXIMUM EXTENT PERMITTED BY LAW.
26. LIMITATION OF LIABILITY
26.1. EXCEPT AS OTHERWISE REQUIRED BY LAW, IN NO EVENT SHALL WE (OR ANY OF OUR OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, RELATED ENTITIES, AND THIRD-PARTY SERVICES) BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, TORT, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OR LOSS OF ANY KIND WHATSOEVER, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF OR INABILITY TO USE THE SITE AND/OR SERVICES.
26.2. WITHOUT DEROGATING FROM ANY OTHER PROVISIONS IN THE AGREEMENT, AND TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL OUR (OR ANY OF OUR OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, RELATED ENTITIES, AND THIRD PARTY SERVICES) TOTAL LIABILITY ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF OR INABILITY TO USE THE SITE AND/OR SERVICES EXCEED THE TOTAL AMOUNT OF FEES PAID BY YOU FOR THE PARTICULAR SERVICE AND THE SPECIFIC OCCURRENCE THAT IS THE SUBJECT OF THE CLAIM OR CAUSE OF ACTION.
26.3. You acknowledge and agree that no claim or cause of action may be brought by you for breach of the Agreement more than one (1) year after the occurrence of such claim or cause of action.
26.4. You further acknowledge and agree that the limitation of liability is an essential and agreed allocation of risk constituting, in part, the consideration for the Service to you.
You agree to protect, defend, indemnify, and hold us (and any of our officers, directors, employees, agents, related entities, and Third Party Services) harmless from any claims, demands, costs, expenses, losses, liabilities, and damages arising from any breach by you of the terms and conditions of the Agreement, including any fraudulent, negligent or reckless act, omission or your misuse of the Site and/or Services.
28. INTELLECTUAL PROPERTY RIGHTS
The trademarks, trade names, service marks, and logos, and others used on the Site belong to us and its respective owners (third-party exchange partners and service providers). The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video, and audio materials used on this Site belong to us and can not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated, without our prior written consent. The use of any content from the Site on any other site or a networked computer environment for any purpose is strictly prohibited.
29. ELECTRONIC DELIVERY OF COMMUNICATIONS
You agree and consent to receive electronically all communications, agreements, documents, notices, and disclosures (Communications) that we provide in connection with your use of the Services. We will provide these Communications to you by posting them on our website, emailing them to you at the email address you provided, communicating to you via instant chat, and/or through other electronic communication such as text message or mobile push notification.
30. WITHDRAWAL OF YOUR CONSENT
30.1. You may withdraw your consent to receive Communications electronically by following the unsubscribe instructions in the email/SMS or contacting us at firstname.lastname@example.org and requesting to opt-out.
30.2. Please note that even if you unsubscribe from our marketing mailing list, we may continue to send you service-related updates and notifications or respond to your inquiries or complaints, and similar communications.
31. FEEDBACK, COMPLAINTS, DISPUTES
31.1. We are committed to providing a high standard of service. If you have any feedback, or questions, or are dissatisfied with the service you have received and wish to submit a complaint, please do so via email to email@example.com . Please provide us with the following details in order for us to be able to process your complaint expeditiously:
- a) your name, email address, and any other information that we may need to identify you;
- b) a clear description of your complaint;
- c) details of what you would like us to do to resolve your complaint; and
- d) any other relevant information and correspondence.
31.2. In the event of a dispute arising and relating to the Agreement, the parties shall first try to resolve it by contacting the other party directly in an attempt to reach an amicable resolution.
32. GOVERNING LAW AND JURISDICTION
Any disputes and claims that cannot be resolved amicably will be submitted to the exclusive jurisdiction of the courts located in the jurisdiction of the incorporation of your Contracting Entity and shall be governed by and construed in accordance with its laws.
It is your responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the Services, and to withhold, collect, report, and remit the correct amounts of taxes to the applicable tax authorities.
We may assign our rights and obligations, either in whole or in part, under the Agreement. Your rights and obligations are personal to you, and therefore non-assignable.
35. ENTIRE AGREEMENT
The Agreement constitutes the entire agreement in relation to your use of the Site and/or Services.
If any provision of the Agreement shall be deemed invalid, void, or for any reason is unenforceable, then that provision shall be severable and will not affect the validity and enforceability of any remaining provisions.
37. CHANGE OF CONTROL
In the event that we are acquired by or merged with a third-party entity, we reserve the right, in any of these circumstances, to transfer or assign the information that we have collected from you, including any personal information, as part of such merger, acquisition, sale, or other change of control.
38. FORCE MAJEURE
We shall not be liable for any delays, failure in performance, or interruption of service resulting directly or indirectly from any cause or condition beyond our reasonable control, including, but not limited to, any delay or failure due to any act of God, the act of civil or military authorities, the act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equine equipment, or failure of equine transportation.
39. ENFORCEMENT OF OUR RIGHTS
We may not always strictly enforce our rights under the Agreement. If we do choose not to enforce our rights at any time, this is a temporary measure and we may enforce our rights strictly again at any time.
All provisions contained in the Agreement, which by their nature extend beyond the expiration or termination of the Agreement, will continue to be binding and operate after the termination or expiration of the Agreement.
The Agreement and any information or notifications that you or we are to provide should be in English. Any translation of the Agreement or other documents is provided for your convenience only and may not accurately represent the information in the original English. In the event of any inconsistency, the English language version shall prevail.
42.1. Headings are merely for convenience and have no effect on interpretation. The following rules also apply to the interpretation of this Agreement, unless the context makes it apparent that a rule does not apply.
- a) reference to
(i) legislation (including subordinate legislation) refers to that legislation as changed, re-enacted, or replaced, as well as any subordinate legislation issued under it;
(ii) A reference to a document, agreement, or provision of a document, agreement, or provision refers to such document, agreement, or provision as changed, supplemented, replaced, or novated.;
(iii) a party to this Agreement or to any other document or agreement includes a permitted substitute or a permitted assign of that party;
(iv) a person includes any type of entity or body of persons, whether or not it is incorporated or has a separate legal identity, and any executor, administrator or successor in law of the person; and
(v) anything (including a right, obligation or concept) includes each part of it.
- b) a singular word includes the plural and vice versa.
- c) a word that suggests one gender includes the other genders.
- d) if a word is defined, another part of speech has a corresponding meaning.
- e) An example of anything (including a right, an obligation, or a notion), such as stating that it includes anything else, does not limit the scope of that object.
- f) The term “agreement” encompasses a promise or other legally binding arrangement or understanding, written or not.