Article 1 (Purpose)
The purpose of this User Agreement is to establish the rights, obligations, responsibilities, and other necessary matters between THE OXCHILD PTE. LTD. (hereinafter referred as “Company”) and users with respect to the the use of ‘APIS Platform’ and all services related to ‘APIS Platform’ provided by the Company.
Article 2 (Definitions)
The definition of terms used in this Agreement are as follows.
1. “Service” means all APIS Platform services and related services that members can use on any type of terminal (including without limitation various types of wireline and wireless devices such as PCs and portable handsets)
2. “Member” means a customer who access the Service, enters into the User Agreement with the Company, and uses the Service provided by the Company.
4. “Password” means a combination of letters or numbers setup by “Members” themselves to verify that he/she is the “Member” that corresponds to the assigned “ID.”
6. “Cryptocurrency” means APIS coins, DASH coins, PIVX coins and other encrypted currencies that can be traded in the Service.
7. “External Cryptocurrency Address” means all cryptocurrency addresses or accounts held or used by a Member or another person outside the Service. The Company does not own, control, or manage External Cryptocurrency Addresses.
8. “Masternode” means a node that carries out a special role distinct from other nodes existing on the cryptocurrency network(usually functioning to confirm and relay transactions on the network). A Masternode’s most distinctive feature is that it receives payment in a specified cryptocurrency(charge) for carrying out special functions(enabling anonymous transactions, instant transactions, and voting, etc.). An investor who has setup a Mastermode by depositing above certain amount in cryptocurrency for a fixed period of time can receive awards(interests) generated on that node in the same cryptocurrency he/she has invested in.
9. “APIS Platform Wallet” means a cryptocurrency wallet that the ‘APIS Platform’ uses to store cryptocurrency linked to a Member’s APIS Platform ID. A Member can send and receive cryptocurrency with an “External Cryptocurrency Address” through the ‘APIS Platform Wallet.’
10. “Posted Material” means photo, video, and other types of informational texts that Members post on the Service, including but not limited to, symbols, characters, voice, sound, image and video, photos, and videos,.
11. “Contents” means online information or material of various forms, including but not limited to, symbols, characters, shapes, colors, voice, sound, image, and video(including combinations thereof).
Article 3 (Service Provision and Suspension)
1. The Company provides a wide range of Service, including proprietary services developed by the Company, services jointly developed with other companies, services developed by other companies, and various types of other services as separately decided by the Company.
2. The Company reserves the right to suspend provision of the Service for any of the following reasons:
① Unavoidable situations due to construction work, including but not limited to repair of service equipment
② In the event where telecommunication operators pursuant to the Telecommunications Business Act, suspend telecommunications services
③ Other reasons due to events of force majeure
3. The Company may suspend all or part of its Services when normal use of Services is impaired due to national emergency, power outage, service failure or other force majeure events
4. The Company may suspend the Service when there is reason that makes the Company unable to provide Services, including but not limited to, switching to a new service.
Article 4 (Explanation and Amendment of the Agreement)
1. The terms of this Agreement will be notified to users by posting it on the website pages for membership registration or through other means. The Agreement will become effective when the user accepts and agrees to this Agreement at the time of registration.
2. To the extent permitted by applicable law, the Company may amend this Agreement when deemed necessary.
3. In the event where the Company amends this Agreement, the Company will publish the amended User Agreement alongside the current User Agreement and state the reasons for amendments as well as the application date. This will be posted from 7 days prior to the application date, either on the homepage of the Company’s website, or as a pop-up screen. However, when the amendment is unfavorable to Members or is significant in nature, notification to Members will take place from 30 days prior to the application date.
4. In the event where the Company publishes the amended Agreement in accordance with the above clause, and notwithstanding a clear notification to Members that if no opinion expressed within 7 days it will be deemed as an expression of opinion, if a Member does not expressly indicate non-acceptance, it is deemed that the Member has agreed to the amended Agreement.
5. In the event a Member expressly refuses the application of the amended Agreement, the Company cannot apply the terms of the amended Agreement and, in this case, the Member may terminate the User Agreement. Provided, however, when the Company is unable to implement the current Agreement due to special circumstances, the Company may terminate the User Agreement.
Article 5 (Rules Outside the Agreement)
1. The Company may, in addition to this Agreement, prepare announcements, individual Agreements, items for individual consent, user guide, operational policies, and detailed guidelines (hereinafter collectively referred as “Detailed Guideline”) and inform Members or obtain their consent. If any part of the Detailed “Guideline,” which the Members have agreed to, contradicts this Agreement, the Detailed Guideline shall have precedence.
2. Matters or interpretations which are not stipulated in the Agreement shall follow the “Detailed Guideline,” applicable law, or commercial practices.
Article 6 (Execution of the Agreement)
1. This Agreement is executed when he/she who wants to become a Member agrees to the terms in the Agreement as provided by the Company and completes the member application process, and when the Company approves the application.
2.The Company may refuse membership application for any of the following reasons, and may cancel the membership approval or terminate the User Agreement even after registration if it is determined that the Member intended to use the Services for unlawful purposes.
① If an applicant has previously lost membership in accordance with this Agreement
② If an applicant has used a name other than his true name or used someone else’s name
③ If an applicant has input or provided false or inaccurate information, or did not input information required by the Company
④ If approval is not possible by fault of the applicant, or if the application is in breach of any other terms set forth in this Agreement
⑤ If the applicant tries to use the Services for unlawful purposes or for a separate business operation
⑥ If the application was submitted for purposes that violate applicable laws or can potentially undermine societal well-being, order, traditions and customs
⑦ If an applicant is less than 19 years-old
⑧ If it is found that an application is in breach of this Agreement, is illegal or unlawful, or when the Company deems it necessary based on reasonable judgement
3. The User Agreement becomes effective when the Company indicates, in the application procedure, that the account was successfully created, or when notice is delivered to the applicant in accordance with Article 18.
4. The Company, when deemed necessary and in accordance with applicable law, is entitled to request verification of an applicant’s name or authentication of his/her identity through a professional organization according to the type of user. The company is not liable for any resulting losses if the applicant’s identity failed to be authenticated due to his/her refusal to submit to the Company’s requests.
Article 7 (Changing Member’s Information)
1. Members may, at any time, view and change his/her personal information. Provided, however, personal ID, which is necessary for service management, cannot by changed.
2. When information input at the time of application has changed, Members may update the information themselves in the Service, or notify the Company of changes through the customer support center.
3. The Company is not liable for any losses resulting from a Member failing to notify the Company of the aforementioned changes.
Article 8 (Management of Member Information)
1. The Company is entitled to restrict the use of nicknames, if the said nickname presents risks of leaking personal information, if it could be mistaken as a nickname of someone other than the Member, if it is anti-social or goes against traditional customs, if it encroaches upon the rights of a third party, or if it can be mistaken as the nickname of the Company or the Company’s administrator. In addition, the Company may also to restrict the use of certain nicknames if the Company deems it necessary based on reasonable judgement.
2. In the event where a Member registers information, such as account information and password, and they coincides with information registered with the Company, the Company will deem that the user is a Member without a separate verification process.
3. Members are responsible for safeguarding passwords and all other information required for accessing his/her account in order to prevent a third party’s unauthorized access to the Member’s account.
4. When a Member becomes aware that his/her account access information has been lost, stolen, or disclosed to a third party, the Member must immediately notify the Company. The Company may take measures, including but not limited to, an immediate suspension of account access.
5. The Company is not liable for losses that has incurred to a Member as a result of account access information, such as account password, being lost, stolen, or disclosed to a third party.
Article 9 (Obligations of the Company)
1. The Company shall, to the best of its ability, abide by applicable laws and this Agreement, and provide the Service in an ongoing and stable manner.
3. In the event where an opinion or complaint submitted by a Member is deemed justified, the Company shall address the matter and may notify the Member of the process of dealing with the matter and the resulting outcome, through channels such as the notice board in the Service, or the Member’s email.
Article 10 (Obligations of the Member)
1. Members are prohibited from doing the following:
① Stealing and using someone else’s information
② Altering information posted by the Company
③ Transmitting or posting, including without limitation, information(such as computer programs) other than those designated by the Company
④ Infringement of intellectual property rights, including but not limited to, copyrights of the Company or other third parties
⑤ Defaming or obstructing business of the Company or other third parties
⑥ Disclosing or posting materials, such as obscene or violent messages, images, voice, false facts, and other information which go against public order and morality
⑦ Using the Services for profit-making without prior consent of the Company
⑧ Accessing Services without prior consent of the Company, through Agent, Script, Spider, Spyware, Toolbar and/or other automated tools or through other unlawful means, acts of wrongfully generating or increasing the number of exposures or clicks, acts of applying for use of Services, and acts that place additional load on the Company’s server
⑨ Collecting personal information and account information of other Members
⑩ Disrupting the sound trading order through acts which unduly influence the market price of cryptocurrency
⑪ Other illegal or unlawful acts
2. Members must comply with, among others, applicable laws, this Agreement, and other provisions published or notified by the Company with respect to user guide and Services, and must not engage in any other acts that interfere with the business of the Company
Article 11 (Intellectual Property Rights over Posted Material)
1. Copyright over materials that Members posted in the Service is protected by the Copyright Act, and a perpetual license, which can be used as follows, is granted to the Company through due legal process and methods. The use and scope of the abovementioned license are as follows.
① Right to use, edit, save, reproduce, modify, publish, transmit, publicly perform, publicly display, and distribute posted materials for purposes of, including but not limited to, operation and improvement of the Service, development of new services, and promotion of the Service.
② Right to produce and distribute derivative works of posted material
③ Right to allow media and telecommunication operators report and broadcast the content of the posted material for the purpose of promoting the Service
2. When the Company intends to use a Member’s posted material in ways other than those mentioned in the previous clause, the Company may obtain prior consent of the Member through means such as telephone, fax, and electronic mail.
3. In the event where a Member terminates the User Agreement, or even where the User Agreement is terminated in accordance to Article 17, the said license continues to exist within the scope stated in Clause 1, such as for purposes of operation and improvement of the Service, new service development, and promotion of the Service..
Article 12 (Ownership off Rights)
1. The intellectual property right over the Service belong to the Company.
Article 13 (Change in Services)
1.The Company may change the content, operational or technical elements of the Service in order to provide the Service in a stable manner.
2. The Company shall give prior notice when applying changes to Service, and inform Members of the specific change and date when the change will be applied. Provided, however, the notice can be post-facto if circumstances make it impossible for the Company to give prior notification.
3. In the event where a Member does not agree to the changes in Service, the Member may indicate non-acceptance to the Company and terminate the User Agreement.
4.4. When there is significant reason, such as, including but not limited to, changes in the Company’s policy related to service provision, part or all of the provided Service may be changed or suspended depending on operational and technical requirements. No separate compensation will be paid to Members unless it is specially provided for in the applicable law.
Article 14 (Advisory on Service Use)
In the following cases, the Company may, without prior notice and at its sole discretion, refuse requests submitted through the Service, or place limits on the terms of service, including but not limited to, transaction amounts.
① When the number of Masternodes that can be setup through the Service is limited
② When Masternode setup is impossible due to reasons such as, including without limitation, sudden surges in market price before Masternode setup
③ When purchase of coins is impossible due to circumstances such as server maintenance or server failure in the Exchange
④ Other such similar cases
Article 15 (Service Fee)
1. When Members use the Service provided by the Company on the ‘APIS Platform,’ a corresponding fee must be paid. The Service fees can be found in the Company’s website or mobile application.
2. In cases where certain conditions are met, the Company may determine the Service fee through consultation with the Member.
Article 16 (Restriction of Use, etc.)
1. The Company may restrict Members’ login to the Service in any of the following cases.
① Consecutive error in entering the password
② Occurrence of hacking or other fraudulent incident
③ Suspected identity theft
④ Other cases where the Company’s operational policy requires restriction on logins
2. The Company may restrict deposits and withdrawals of Members in any of the following cases.
① When a request is made by the coin in question
② When the amount of the first withdrawal following a Member registration is excessive
③ Other cases when the Company’s operational policy requires deposits and withdrawals to be restricted or delayed
3. Within the scope of usage restriction as stated in this Article, the terms and details of restrictions shall be based on what was set forth by the Company in texts, including but not limited to, the Company’s operational policy or user guide
4. When restrictions are placed on Services use in accordance with this Article, or when the User Agreement is terminated, the Company will notify Members in accordance with Article 18.
5. A Member may follow the procedures set by the Company to raise any objection to the restriction in use pursuant to this Article. In such a case, if the Company deems the objection to be justified, the Company will immediately allow Member to resume use of the Service.
Article 17 (Termination of User Agreement)
1. A Member can, at any time, request the termination of User Agreement by using, among others, the information management menu in the Services, or customer service center. The Company must address the request immediately according to its manual.
2. The Company may terminate the User Agreement for the following reasons on the part of the Member
① Acting in breach of this Agreement
② Acting in breach of applicable laws or Company regulation, including but not limited to, acts such as providing illegal programs in violation of copyrights, obstructing operation, illegal communication and hacking, disseminating malware, or exceeding the scope of authorized access.
③ Acts or attempted acts that disrupt the Company’s Service
④ Other cases where the Company, based on reasonable judgement, deems it necessary to refuse provision of the Service
3. In the event where the User Agreement is terminated pursuant to the above clause, all benefits obtained by use of Services will also be cancelled, and the no separate compensation is to be paid by the Company.
4. In the event where the User Agreement is terminated pursuant to this Article, the Company will notify Members in accordance with Article 18.
6. Notwithstanding the above clause, when the Company terminates the User Agreement pursuant to clause 2, the Company may keep the Member’s information for a certain period for reasons, including without limitation, for the purpose of receiving and processing complaints raised by the Member.
7. In the event where a Member who has completed applying for the Services of ‘APIS Platform’ and has concluded the Agreement, a request for termination before the end of the contract period will incur a penalty as set by the Services.
Article 18 (Notification to Members)
1. In the event where the Company sends a notice to a Member, it can use the electronic mail address that the Member has provided unless otherwise stated in a separate clause in this Agreement.
2. When the Company sends out notice to all Members, the notification described in the above clause may be replaced by a public notice posted on the notice board in the Service for 7 days or longer.
Article 19 (Limitation of Liability)
1. The reasons for limitation of liability set forth in this Article applies to all cases, not only when a Member intends to, among others, exercise any contractual right to damages, but also when a Member is, among others, claiming damages resulting from illegal acts.
2. The contents provided by the Services is an auxiliary tool for using the Services and does not recommend or suggest investments or transactions of any kind. The contents or information provided by other information providers may contain errors, time lags, and other inaccuracies, for which the Company and other information providers will not be in any way liable.
3. Investments based on the Service or on information obtained thereof can lead to losses, for which the final judgment and responsibility fully lie with the Member. The Company is not in any way liable for investment losses of Members.
4. The Company has no legal obligation to intervene in disputes that occur following the Company’s mediation service between Members or between a Member and a third party.
5. The Company is not liable for any Member’s losses due to the Company’s inability to provide Services in the event of natural disasters, DDOS attacks, IDC failure, telecommunication operators’ network failure or other force majeure events.
6. To the fullest extent permitted by applicable law, in no event will the Company be liable for damages incurred to a Member as a consequence of a third party’s illegal access to the Company’s server, acts preventing normal operation of other servers, or unauthorized use of Member information.
7. The Company is not liable for failures, or service limitations that are unavoidable due to the nature of cryptocurrency, including but not limited to, defects in the cryptocurrency issuance and management system itself, or technological limitations.
8. The Company shall be exempted from its obligation to provide Services when the Company’s server is undergoing regular maintenance required for Service provision.
9. The Company will not liable for disruption in Services by fault of Members.
10. The Company is not liable for any kinds of losses caused by fault of Members, including but not limited to, incorrect input of deposit/withdrawal address or amount, inappropriate choice of deposit/withdrawal method, etc.
11. The Company is not liable for the reliability, accuracy, or legality of information, material, and facts that Members post in the Services.
12. The Company will not be liable with respect to the use of free services, unless specially provided for by applicable law.
13. In the event where, while using the Services, a Member’s own unlawful act or breach of this Agreement results in a third party other than the Member raising various complaints against the Company including, without limitation, claiming damages or filing a lawsuit, the said Member must save the Company harmless by personally assuming liabilities and costs.
Article 20 (Governing Law and Jurisdiction)
1. Disputes arising between the Company and Members shall be governed by Singaporean law.
2. The Singaporean district court shall be the sole competent court for litigations related to disputes arising between the Company and Members.
Article 21 (Indemnity)
The Company is not liable for losses incurred to a Member for any of the following reasons. Provided, however, it is not the case when there is due recognition of a significant causal relationship between the Company’s actions and the incurred loss.
1. Services was not provided or delayed due to unavoidable circumstances including, but not limited to, failure of communication devices, lines, or computers, or sudden surge in transactions.
2. A Member’s ID, password, and other information, was leaked to a third party due to the Member’s mismanagement
3. When the cause is a Member’s error regarding computer operation or business process
4. In events of force majeure, including but not limited to, natural disasters
5. When a Member has failed to gain the profit he/she anticipated through use of Services, or when loss has incurred due to the Member’s choice or use of Services’ material
6. When Services were delayed or provided in contrast to the original intention of a Member, due to the Member's fault
7. When use of Services was disrupted by fault of the Member
8. When the Services was used as a medium for transactions, including but not limited to, transaction of goods or direct transaction between Members or between a Member and a third party
9. All disputes arising between Members or between a Member and a third party by no fault of the Company,
10. When loss has incurred to a Member due to events beyond the Company’s control, including but not limited to, system failure that can occur without gross negligence, either intentional or quasi-intentional, during the process of managing, checking, repairing, and replacing the server and other facilities, or during the process of software operation, system failure due to attack by a third party, or diffusion of a computer virus which has no countermeasures developed by reputable domestic research institutions or security related companies.
11. Losses to a Member in clause 10 includes, without limitation, (1) economic and psychological damages due to damage or loss of posted material, attached files, and other data(hereinafter referred as “damage or loss of data”) that the Member was in the process of preparing, transmitting, or saving through the Services, and (2) economic and psychological damages that can occur to a Member when the damage or loss of data made it impossible for or delayed the Member from performing acts of fact or acts of law, including but not limited to contracts with a third party.
12. Notwithstanding clause 10 and 11, when loss has incurred to a Member with respect to the free service provided by the Company in the absence of the Company’s intention or gross negligence.
This User Agreement shall be applicable from August 3, 2018.