TERMS AND CONDITIONS

TRANSCRYPT OÜ, REG. Nr.14453691, Harju maakond, Tallinn, Haabersti linnaosa, Meistri tn 16, 13517, under the brand Transcrypt (hereinafter Transcrypt or we, us and our), provides you with a possibility to Exchange one type of crypto/fiat asset to another one.

Definitions

For the purposes hereof "Exchange"  shall mean the process of exchange of the crypto/fiat asset of one type to the crypto/fiat asset of another type at these Terms and Conditions (hereinafter the Terms) set forth by exchanging parties, which is executed via the third-party service in respective blockchain network. When you exchange crypto/fiat assets you acknowledge and agree that the Exchange will be processed through the third-party exchange service with additional fees applicable to such Exchange. You acknowledge and agree that the exchange rates information made available via an internet website www.transcrypt.eu and being in operation of Transcrypt (hereinafter the Website) are an estimation only and may differ from prevailing rates available via other sources outside of the Website.

"Crypto/fiat Assets" herein shall be deemed as type of assets which can only and exclusively be transmitted by means of block-chain technology, including but not limited to digital coins and digital tokens and any other type of digital mediums of exchange, such as Bitcoin, Ethereum, Ripple, etc, to the full and absolute exempt of the securities of any kind.

To be able to use all possibilities and functionality of our service of creation, management and access to Transcrypt Account, access to the Website, service of Exchange and service of customer support (hereinafter the Services) you shall go through the registration process and create a Transcrypt Account. "Transcrypt Account" is a user account accessible after the registration process and via the Services where the user may request to make a crypto/fiat assets exchange.

“Dormant Account” is an account held by a user on Transcrypt platform that has had no trading activity, deposits, or withdrawals for a continuous period of 12 months.

Services

Transcrypt provides service of creation, management and access to Transcrypt Account, access to the Website, service of Exchange and service of customer support at the Terms set forth by Transcrypt.

To be able to use all the possibilities and functionality of our Services you shall undertake the registration and verification process and create a Transcrypt Account.

Custodial services

Our Website does not offer custodial services, which means we do not store your cryptocurrency or fiat assets independently in deposits or balances. Instead, we partner with regulated, qualified custodial service providers who act as independent third parties for this purpose. In certain instances, such as when an Anti-Money Laundering (AML) procedure is required, your Exchange may experience delays. It also means that such third-party organizations may apply additional fees to the exchange.

YOU HEREBY UNDERSTAND AND ACKNOWLEDGE, THAT ANY DELAYS ARE POSSIBLE; YOU INDEMNIFY AND HOLD US HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE EXCHANGE DELAY, WHETHER ORIGINATED FROM OUR FAULT OR NOT.

AML and KYC procedures

You must comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures, which may be applicable to you periodically. During these AML/KYC procedures, Transcrypt reserves the right to request additional information and documentation to identify our user and verify the source of funds, without limitation.

You shall provide accurate copies of valid documents that Transcrypt may request for identification, AML purposes, and any other procedures mandated by law. By opening and maintaining an account with Transcrypt, the account holder confirms and declares that: the account is opened solely on your behalf and in your interests and you are the only true and lawful beneficiary of the funds deposited into or held within this account.
You acknowledge that providing false information or misrepresenting the true ownership of the account may result in:
(i) Immediate termination of the account.
(ii) Freezing of any funds held within the account.
(iii) Legal action being taken against you to recover any losses incurred by Transcrypt due to such misrepresentation.

Transcrypt Account

Eligibility: You must be at least 18 years old or of the legal age required to engage in business relations with Transcrypt, as determined by the laws of your relevant jurisdiction.

Accurate Information: You agree to provide accurate and up-to-date personal and contact information during the registration process, and to promptly update such information as needed.

Password Security: You are responsible for creating a strong, unique password for your Transcrypt Account and maintaining its confidentiality. You agree not to share your password or account access with any third party.

Account Ownership: You acknowledge that you are the legal owner of the assets held in your Transcrypt Account and that you are authorized to manage and transact with those assets.

Compliance with Policies: By creating a Transcrypt Account, you agree to comply with all applicable Transcrypt policies, including but not limited to the Terms and Conditions, AML Policy, Privacy Policy, Cookie Policy, and Refund Policy.

Account Security: You are responsible for maintaining the security of your Transcrypt Account and promptly notifying Transcrypt of any unauthorized access, suspicious activity, or security breaches related to your account.

AML/KYC Procedures: You agree to comply with any Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures that may be applicable to you, providing accurate copies of valid documents as requested by Transcrypt for identification, AML purposes, and any other procedures mandated by law.

Restricted Locations: You represent and warrant that you are not located in, under the control of, or a national or resident of any Restricted Locations, or any country subject to a United States embargo on goods or services.

Termination: Transcrypt reserves the right to suspend or terminate your account if you violate any of the account creation terms or any other Transcrypt policies.

By creating a Transcrypt Account, you acknowledge and agree to be bound by these terms and all applicable laws and regulations governing the use of Transcrypt Services.

Warranties and representations

You further represent and warrant that you:

(i) have not been previously suspended or removed from using our Services;

(ii) have full power and authority to enter into Services and in doing so will not violate any other agreement to which you are a party;

(iii) are not located in, under the control of, or a national or resident of any Restricted Locations, or any country to which the United States has embargoed goods or services;

(iv) are not identified as a "Specially Designated National;"

(v) are not placed on the Commerce Department’s Denied Persons List;

(vi) will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.

You further represent, agree and warrant, that you will not violate any law, contract, third-party right or commit a tort by accessing or using the Services, and that you are solely responsible for your actions and/or inactions while using our Services.

Restricted Location

Transcrypt may not offer the Services in all markets and jurisdictions and may limit or prohibit the use of the Services in certain U.S. states or foreign jurisdictions ("Restricted Locations"). If you are registering to use the Services on behalf of a legal entity, you represent and warrant that (i) the legal entity is duly organized and validly existing under the applicable laws of its jurisdiction, and (ii) you are duly authorized by the legal entity to act on its behalf.

We are unable to provide our services to residents of the following countries/states: Afghanistan; American Samoa; Bahamas; Barbados; Botswana; Cambodia; Democratic People's Republic of Korea (DPRK); Ethiopia; Ghana; Guam; Guyana; Iceland; Iran; Iraq; Jamaica; Lao PDR; Libya; Mauritius; Mongolia; Myanmar; Nicaragua; Nigeria; Pakistan; Panama; Puerto Rico; Russian Federation; Samoa; Saudi Arabia; Sri Lanka; Syria; Trinidad and Tobago; Tunisia; Uganda; US Virgin Islands; USA; Vanuatu; Yemen; Zimbabwe.

YOU HEREBY INDEMNIFY AND HOLD US HARMLESS AGAINST ANY AND ALL CLAIMS, DEMANDS, AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, OR SPECIAL, OR ANY OTHER FORM OF DAMAGES, INCLUDING BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS, LOSS OF DATA, OR LOSS OF ASSETS, ARISING FROM OR IN ANY WAY RELATED TO THE INVALIDITY OR BREACH OF ANY PROVISIONS OF THIS SECTION OR THE ENTIRETY OF THESE TERMS. THIS INDEMNIFICATION APPLIES TO ANY ACTION, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), OR ANY OTHER LEGAL THEORY, AND SHALL EXTEND TO COVER ALL LOSSES AND LIABILITIES INCURRED AS A RESULT OF SUCH INVALIDITY OR BREACH.

Dormant Accounts

If at amy time during use of Services your Account becomes inactive for a continuous period of twelve (12) months or more, with no transactions, deposits, withdrawals, or any other account-related activities we will regard it as Dormant Account.

Dormant Account Fees: Transcrypt may charge a monthly dormant account fee which is non-refundable to cover administrative costs related to maintaining the inactive account. The fee will be deducted from the Account balance until the Account is reactivated or the balance reaches zero.

Reactivation: To reactivate a Dormant Account, the account holder must log in to their Transcrypt Account and complete any required verification processes. Once the account holder has successfully completed the reactivation process, the Dormant Account fees will cease, and the Account will be considered active.

Account Termination: If a Dormant Account's balance reaches zero due to the application of dormant account fees, or if the Account remains inactive for an extended period as determined by Transcrypt, Transcrypt reserves the right to close the Account.

Unclaimed Assets: In compliance with applicable laws and regulations, Transcrypt may be required to report and remit unclaimed assets in dormant accounts to the relevant authorities after a specified period of inactivity.

Record Retention: Transcrypt will maintain records of closed Dormant Accounts in accordance with the applicable Estonian laws and regulations, including anti-money laundering (AML) and know-your-customer (KYC) requirements.

Limitation of Services

Due to the inherent nature of the Services, certain limitations are imposed. Please carefully review this section before proceeding to use the Services. You acknowledges and agrees that:

(i) Transcrypt is not responsible for, nor liable for, any losses arising from inappropriate or unauthorized use of the Services;

(ii) Payment service availability may result in delays in payment transactions;

(iii) Transaction processing times may vary due to the inherent nature of the blockchain network and network fees payable to miners;

(iv) Completed transactions cannot be canceled or modified due to the inherent nature of the blockchain network;

(v) Exchange prices are based on the reference price provided by Transcrypt;

(vi) Transcrypt is not responsible for any effects on the reference price, whether positive or negative, caused by market volatility or technical delays of the web platform.

IT IS YOU SOLE RESPONSIBILITY TO PROVIDE ACCURATE AND ERROR-FREE INFORMATION IN ALL ASPECTS; FAILURE TO DO SO MAY RESULT IN THE TRANSFER OF FUNDS TO AN INCORRECT ACCOUNT OR DELAYS IN PROCESSING.

Restricted Use

You represent, agree and warrant that YOU WILL NOT:

(i) use our Services or will immediately cease using those if any applicable law in your country prohibits or will prohibit you at any time from doing so;

(ii) use our Services to participate in a fraudulent, scam or any type of illegal activity;

(iii) provide false, inaccurate, or misleading information;

(iv) transfer your login and password, or otherwise provide access to your Account to any third party;

(v) attempt to modify, decompile, reverse-engineer or disassemble our software in any way;

(vi) use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access the Services or to extract data;

(vii) access or use the Services to collect any market research for a competing business;

(viii) attempt to circumvent any content filtering techniques we employ or attempt to access any service or area of our Services that you are not authorized to access;

(ix) develop any third-party applications that interact with our Services without our prior written consent;

(x) encourage or induce any third party to engage in any of the activities prohibited under this Section.

Third-Party Content and Services

For the purposes hereof "Third-Party Content" shall mean the content provided by third parties, including without limitation links to web pages of such parties, which may be represented on the Website. At the same time "third-party service" refers to any platform or network in which crypto/fiat assets belong to you or where you are the beneficial owner of crypto/fiat assets; and this platform is maintained by a third party outside of the Services; including, but not limited to third-party accounts.

No control over third-party services. You may be charged fees by the third-party service provider. Transcrypt is not responsible for any third-party services' fees. You are solely responsible for your use of the third-party service, and you agree to comply with all terms and conditions applicable to any third-party service.

While using our Website, you may view Third-Party Content. We do not control, endorse or adopt (unless otherwise expressly stated by Us) any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.

Intellectual Property

All our intellectual property assets ("IP") including but not limited to all copyrights, trademarks, patents, service marks, trade names, software code, icons, logos, characters, layouts, trade secrets, buttons, color scheme and graphics are protected by local and international intellectual property laws and treaties.

We hereby grant you a limited, nonexclusive and non-sublicensable license to access and use our IP for your personal use only.

In any case you may not alter, modify, reproduce, distribute or commercially exploit any materials, including text, graphics, video, audio, software code, user interface design or logos.

The license granted under this Section will automatically terminate if We suspend or terminate your access to the Services.

In case you upload or share any feedback, suggestion, idea or other information or material ("Content") with us you automatically grant us a worldwide license to use your content. It becomes part of the public domain as long as it remains on our Website. It can be used for marketing or any other purposes at our sole discretion.

Communications

You agree and consent to receive electronically all Communications that Transcrypt may wish to communicate to you in connection with your Transcrypt Account and/or use of our Services. For the purposes of this agreement, "Communications" shall mean any communication, agreement, document, receipt, notice, and disclosure that Transcrypt may, from time to time, address to the User. You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support. In such cases, you waive your right to plead ignorance. If you decline or withdraw consent to receive electronic Communications, Transcrypt may suspend or terminate your use of the Website and/or some or all types of Services.

You acknowledge and agree that email communications regarding Dormant Accounts are excluded from the withdrawal of consent for electronic Communications. As a result, even if you have withdrawn your consent to receive electronic Communications for other matters, you may still receive emails pertaining to Dormant Accounts.

You acknowledge and agree that any email communications regarding Dormant Accounts or other Account-related matters may be subject to delivery delays or failures, message filtering, or spam prevention measures. Transcrypt shall not be held responsible or liable for any such limitations that may affect your ability to receive or access email communications related to your account. It is your responsibility to maintain a valid and accessible email address and regularly check for important communications from Transcrypt.

Updates and Modifications

Transcrypt reserves the right to update, modify, or amend these Terms at any time without prior notice. You are responsible for regularly reviewing the Terms to stay informed of any changes. By continuing to use the Website and/or Services after any such modifications have been made, you acknowledge and agree to be bound by the modified Terms. If a you do not agree to the updated Terms, you should discontinue the use of the Website and Services immediately. It is your responsibility to check this page periodically for any changes to the Terms.

Transcrypt will only inform you via email about significant changes to the Terms that may materially affect your rights, obligations, or use of the Website and Services. These may include, but are not limited to:

(i) Changes to the fees and pricing structure associated with the Services.

(ii) Modifications to the scope or availability of Services provided.

(iii) Introduction of new Services or discontinuation of existing Services.

(iv) Changes to user data privacy and security policies.

(v) Modifications to dispute resolution procedures or governing law provisions.

(vi) Changes to account suspension or termination policies.

Disclaimers & Limitation of Liability

Except as expressly provided to the contrary in a writing by Us, our services are provided on an "As is" and "As available" basis. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.

  1. Except as otherwise required by law, IN NO EVENT SHALL TRANSCRYPT, OUR DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM TRANSCRYPT, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO TRANSCRYPT'S RECORDS, PROGRAMS OR SERVICES.
  2. Exchanges via our Website cannot be canceled or reversed by Transcrypt. Therefore, check the details of your exchange details before making such Exchange or transaction. Transcrypt is not responsible for your crypto/fiat assets once they have been sent outside of the Website. Moreover, Transcrypt doesn’t guarantee the uptime of the Exchange or transaction.
  3. To the maximum extent permitted by applicable law, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF TRANSCRYPT (INCLUDING OUR DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES AND AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, TRANSCRYPT OR TO THESE TERMS EXCEED THE FEES PAID BY YOU TO TRANSCRYPT WITHIN 3 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.
  4. We strive to protect our users from fraudulent and scam activities in the sphere of crypto/fiat assets. It is possible, that some crypto/fiat assets are purposed for unlawful seizure of the property, or are construed as a fraud, scam or any other activity, recognized by the laws as illegal and/or non-compliant with legal requirements. We reserve the right to prohibit and discontinue any Exchanges on our Website with such crypto/fiat asset at our sole discretion, without any prior notice to you and without publication of the reason for such decision, whenever this comes to our knowledge. YOU INDEMNIFY AND HOLD TRANSCRYPT HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH PROHIBITION AND DISCONTINUATION OF EXCHANGES IN OUR WEBSITE WITH ANY CRYPTO/FIAT ASSET.
  5. Nothing in this Agreement or Website or web platform, or otherwise communicated to you shall be understood or interpreted as an investment advice in connection with the Services contemplated by these Terms or an offer to buy or sell or the solicitation of an offer to buy or sell any Crypto/fiat Assets. We may provide information on the price, range, volatility of cryptocurrencies and events that have affected the price of these, but this is not considered investment advice and should not be construed as such.
  6. Any decision to purchase or sell Crypto/fiat Assets is your decision and we will not be liable for any loss suffered.

Termination

You agree that Transcrypt may, at its sole discretion, terminate your access to the Website and your Account by providing notice, including but not limited to, exercising our right to: limit, suspend, or terminate the Service and Transcrypt Accounts; prohibit access to the Website and its content, services, and tools; delay or remove hosted content; and take technical and legal steps to keep you off the Website if we believe thta you are creating problems, posing potential legal liabilities, infringing on the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms. Furthermore, in appropriate circumstances and at our discretion, we may suspend or terminate Transcyrpt Accounts for any reason, including but not limited to:

(i) Attempting to gain unauthorized access to the Website or another user's Transcrypt Account, or providing assistance to others attempting to do so.

(ii) Overcoming software security features that limit the use of or protect any content.

(iii) Using the Service to perform illegal activities such as money laundering, financing terrorism, or engaging in other criminal activities.

(iv) Violating these Terms of Use.

(v) Failing to pay or engaging in fraudulent payment for transactions.

(vi) Experiencing unexpected operational difficulties.

(vii) Complying with the request of law enforcement or other government agencies, if deemed legitimate and compelling by Transcrypt, acting at its sole discretion.

Applicable Law and Arbitration

You and Transcrypt agree to arbitrate any dispute arising from these Terms or your use of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents.

You and Transcrypt agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Transcrypt shall be sent by email.

Any dispute, controversy, difference or claim arising out of or relating to the Terms, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration in Republic of Estonia.

The law of this arbitration clause shall be Estonian law.

The number of arbitrators shall be one. The arbitration proceedings shall be conducted in English language.

Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws of Estonia, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction.

Whether the dispute is heard in arbitration or in court, you will not commence against Transcrypt a class action, class arbitration or representative action or proceeding.

Miscellaneous

These Terms constitute the entire agreement and supersede all prior and contemporaneous understandings between the parties regarding the Services. In the event of any conflict between these Terms and any other agreement you may have with Transcrypt, the terms of that other agreement will prevail only if these Terms are specifically identified and declared to be overridden by such other agreement.

Nothing in these Terms shall be construed to create a partnership, fiduciary, joint venture, or agency relationship between you and us.

Our failure or delay in exercising any right, power, or privilege under these Terms shall not operate as a waiver thereof.

The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.

You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from Transcrypt, including by operation of law or in connection with any change of control. Transcrypt may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.

No waiver of any breach of any provision of these Terms shall constitute a waiver of any prior, concurrent, or subsequent breach of the same or any other provisions, and no waiver shall be effective unless made in writing and signed by an authorized representative of the waiving party.

Contact details

In case of any questions arising in connection to these Terms, feel free to contact us at [email protected].