ethrift Terms of Service

Terms of Service

These Terms of Service ("Terms") set out the conditions under which Sui Generis Pty Ltd ABN 86 154 229 875 (the "Company") offer the use of its trading and payment platform (the "Platform") to Customers. Please read these Terms carefully. Your use of the Platform indicates your acceptance of and agreement with these Terms. The Platform, managed by the Company, is an internet based application for trading cryptographic unique software Tokens ("Tokens"). The Company reserves the right and may at its sole discretion, to change, add, remove or otherwise amend these Terms, at any time. You will be notified of such changes two business days in advance through the contact method provided in your Account profile and upon such notification it is your responsibility to be aware of and review the amended Terms. Your use of the Platform subsequent to any changes will indicate your acceptance to said changes. As long as you comply with these Terms as modified from time to time, the Company grants you a personal, non-exclusive, non- transferable, non-sublicensable, limited right to enter and use the Platform and its Designate Services. These Terms constitute the Company’s mandate to allow Customers to trade on the Platform according to the following clauses as well as perform the functions described herein. WARNING: Investing in and holding Tokens carries a high level of risk and is not suitable for all investors. Before engaging in any trades involving Tokens please carefully reflect and consider your risk profile, objectives, financial situation and needs and investment experience. The value of Tokens may rise or fall, and may be influenced by matters outside of the Company's control. By trading or holding Tokens, you could sustain substantial losses.

1. Use of the ethrift.io Platform The Platform is intended for use only by persons who are residents of Australia. The Company does not seek to provide services to any person residing in any jurisdiction where its use would be considered in contravention of the law or regulation. Furthermore, the Company does not make any offer or solicitation to its customers to buy or sell any service or product to any person in any jurisdiction where such offer or solicitation would be unlawful. 2. The Company's Authority The Company is not a principal in any Transaction. In giving an Instruction, the Customer appoints the Company as its agent to carry out the Instructions to buy or sell the specified Tokens at the price nominated by the Customer. All Transactions will be settled and delivered immediately to the Customer, and any Instruction is irrevocable authority from the Customer to the Company to access their Account to settle the Transaction and deduct any Commission or Fee or other amount owing to the Company under these Terms or for any other reason. Onboarding to the Platform is restricted to Australian Customers only and is not offered or available to any person who resides outside of Australia. The Company does not hold an Australian Financial Services Licensee and it does not seek to offer general or personal financial advice of any kind. Nothing in this website is intended to be or should be taken as financial, legal or taxation advice. The Customer should seek their own advice regarding financial, legal, tax and accounting considerations and with respect to the likely outcomes for trading Tokens. 3. Who May Be a Customer A Customer must be an Australian resident individual or business which has met the Company's onboarding and KYC procedures, including, if required, any enhanced client verification procedures. The Company retains absolute discretion in determining who may be a Customer of the Platform and may cease to allow any Customer to transact through the Platform at any time without prior notification. The Company shall have absolute discretion in accepting or rejecting an application to be a Customer or any Instruction of an existing Customer. Customers agree to provide the Company with accurate, current and complete personal identification information as prompted by the registration process, and keep such information updated as appropriate. 4. Customer Accounts It is the responsibility of the Customers to maintain the security and the confidentiality of their Account information, including their password, and for all activity occurring on their Account. The Customer agrees to notify the Company as soon as possible of any unauthorized use of their Account or any other related breach of their security. The Company is not liable for any loss incurred as a result of unauthorized use of a Customer’s Account credentials. Customers will be held liable for losses incurred by the Company or any other Customer of the Platform due to someone else's unauthorized use. Customers shall not use any Account other than their own or access the Account of another Customer at any time. Customers may not attempt to gain access to the Platform in an unauthorized manner, and any attempt to do so or to assist others to do so, or distribution of instructions, software or tools for that purpose, will result in the accounts of such Customers being terminated, and the Company reserves the right to take any other action against you as deemed necessary. For a Customer to be exempt from any of these rules, the express and prior permission from the Company must be obtained. The Company may restrict Transactions that may violate Australian laws or its own internal KYC and AML/CTF policies. The Company's KYC and AML/CTF policy is located on its website. 5. Account Transfers The Customer may submit payments of Currency to settle their transactions by way of direct bank transfer or New Payments Platform (NPP). Payments made via NPP are subject to the NPP terms and conditions, including any fees levied. The system is non-custodial; therefore the Company does not manage Currency or Token deposits or balances for the Customer. The Customer may designate their own address to receive Token purchases. Customers must not disclose their designated deposit address to any person other than when transferring Tokens to or from their Account. Customers acknowledge that:  (a) The networks by which Token transfers occur are outside of the Platform. The Company gives no guarantee of and takes no liability for the security of the Token transfer network. Losses of Tokens may occur due to use of the Token transfer network which are outside of the control of the Company;  (b) The speeds of the Token transfer networks are outside of the control of the Company. It may take some days for a transfer of Tokens to a Customer's Account (deposit) to be received by the Platform, or for a transfer of Tokens from a Customer’s Account (withdrawal) to be effected. The Company is not liable for any consequences of failures of Token deposits or withdrawals to be effected in a timely manner. The Company is not obliged to accept any deposit of Tokens or Deposited Currency to any Account. 6. Transaction Execution Policy The Company will execute Transactions prioritising the order in which they are placed by Customers, but having regard to the price and volume at which the Instructed Transaction is placed. However, the Company reserves the right to place Instructed Transactions on hold or fail the transaction in the event of price slippage. 7. Fees and Commissions The Customer acknowledges that the Company will charge Fees as associated with fulfilling transaction orders for the Customer. Fees and Commissions are detailed at the time of providing Instruction for an order to be executed. The Company will endeavor to notify Customers through their Accounts or by their nominated preferred method if contact in advance of any notable changes to Fees or Commissions or how they are to be calculated. The Customer authorizes the Company to deduct from the proceeds of a Transaction or from a Customer’s Account the Commission due in consideration of the service provided. 8. Limitations on the Use of the Designated Services The Company in its absolute and sole discretion may restrict the number of open Instructions a Customer may have on the Platform at any one time; restrict the ability of a Customer to change or cancel a posted Instruction per any unit of time; and cancel in whole Instructions that do not adhere to these limitations. 9. The Company's Obligations The Company warrants and represents that; it will use all reasonable care and skill in facilitating the Instructions of the Customer and the trading price for a Transaction is calculated on the basis of actual offers made by the liquidity provider; it shall comply with the laws and regulations relating to offering Designated Services in the jurisdiction of Australia. 10. Customer’s Obligations and Acknowledgements The Customer acknowledges that once an Instruction is placed it is irrevocable and it will proceed immediately to settlement and delivery through the Platform. The Customer acknowledges that, when a Transaction is entered, the Platform sends and receives currency and or tokens to and from the Customer’s own accounts. The Customer represents and warrants that; they will only operate and utilise the Platform for the purposes and in adherence with these Terms; they are is duly authorized and has sufficient capacity to submit Transactions on the Platform; they are a resident of Australia and will comply with all applicable laws of Australia; all amounts transferred into their Account whether as tokens or currency, are derived legal sources and are owned by the Customer or they are otherwise granted full legal authority to deal with; the provision of Instructions or entering any Transaction does not infringe the rights of any third party or any applicable law. The Customer will not; seek to use the Platform to perform any illegal activity of any sort, including, but not limited to, money laundering or terrorism financing; use the Platform to perform payment of any ransomware; provide any Instruction or undertake any activity, whether or not through the Platform, which would or may negatively affect the performance of the Platform or the reputation of the Company. The Customer acknowledged that in using the Platform and holding and transacting in Tokens, they have reasonably considered the potential risks, including but not limited to:  •The price volatility of Tokens  •The value of Tokens may be influenced by factors outside of the control of the Company  •The value of existing Tokens may be affected by the created or developed of new Tokens or other forms of digital currencies  •Tokens may not be accepted as payment for goods and services by any person The Customer is responsible for any tax liability arising from their participating in the holding or Transacting of Tokens and will indemnify the Company in the event the Company is obliged to pay tax on behalf of the Customer. 11. Intellectual Property All intellectual property rights vested in texts, images or any other content found on or related to the Platform are owned by the Company. Accordingly, Customers may not copy, distribute, reproduce, republish, upload, transmit, modify, post, frame-in or otherwise use in any way any such content without the prior express permission and authorization of the Company. The Company's property or that of our partners is protected by patent, trademark and/or copyright laws of Australia and may not be used without the Company's express written consent. The Company may take any action available in law or equity to protect its intellectual property and to remedy any breach or potential breach of its rights. 12. Commentary The Company may include commentary and information on Tokens, the market for Tokens, applications for Tokens, interactive tools, quotes, reports and data concerning Tokens and trading in Tokens and other subject matter. The Company will identify and attribute all information sourced from a third party. The Company does not intend to explicitly or implicitly endorse or approve any Third Party Information. 13. Liability The Customer indemnifies the Company and each of its directors, officers, shareholders, advisers, consultants, agents and contractors (each a "Company Indemnitee") against all liabilities, claims, losses and expenses (Losses) which may be incurred or suffered by the Company Indemnitee directly or indirectly arising out of any failure by the Customer to meet their obligations under these Terms. This indemnity will apply regardless of whether a Transaction was entered in error, but will not apply to the extent that Losses were incurred or suffered by a Company Indemnitee due to its own fraud or willful default. To the extent permitted by law, the Company or the Company Indemnitees will not be held liable for any damages, losses, costs, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, or any other direct, indirect or consequential loss to any person including the Customer arising out of use of the Platform, the Company acting on any Instruction, any Transaction, any failure of the Platform, any failure or lack of any security measures or for any other reason, except to the extent of the Company's fraud or willful default. The Company shall not be liable for any perceived loss as a result of cancelling in whole or in the Instructions of the Customer. The Company does not make any representation that the Platform is free from errors, viruses, worms or other technical anomalies which may cause problems or damage to the Customer’s own computer hardware or software and therefore the Company will not be held liable for any malfunction, breakdown, delay or interruption to the Designated Service, or if for any reason the Platform is unavailable at any time or for any period. While the Company takes appropriate measures to ensure the Platform and all of the Company's systems are properly secured and protected against attack, it gives no warranty that its security systems cannot be exploited. In the case of fraud or other suspicious activities including but not limited to money laundering and tourism financing, the Company will report all necessary information, including names, addresses and all other requested information, to the relevant authorities in accordance with the AML/CTF Program. Accounts may be frozen at any time at the request of an authorised agency seeking to investigate the alleged criminal activity. 14. Termination A Customer may close their Account at any time by notification to the Company. The Company may suspend or terminate a Customer’s Account at any time immediately upon written notice for any reason, including without limitation; attempts to gain unauthorized access to the Platform or another Customer's Account or providing assistance to others attempting to do so; overcoming software security features limiting use of or protecting any content; usage of the Platform to engage in illegal activities such as money laundering, terrorism financing, or other criminal activities; any violation of these Terms; failing to pay or fraudulent payment for Transactions; unexpected operational difficulties; or, requests by law enforcement or other government agencies. The Company may by notice to the Customer discontinue or modify the Platform and or revise or terminate these Terms at any time. Customers will be deemed to have accepted any revisions or termination should they continue to access the Designated Services. The Company also reserves the right to terminate Accounts that have been inactive for a prolonged period, or to modify or discontinue the System or features of the System. Customer’s agree that the Company will not be liable to them or to any third party for termination of their access to the Designate Services and the Customer remains liable for all fees and commissions payable in respect of the Account or any Transactions ordered prior to the suspension or termination. 15. Governing Law These Terms and the Customer’s use of the Platform is governed by the laws of Queensland, Australia. All Customer’s submit to the non-exclusive jurisdiction of the courts of Queensland.. 16. Definitions In these Terms: Designated Services means the services provided by the Company, including; the facilitation of trades, the transfer of tokens and currency on behalf of the Customer, the delivery of tokens or currency to the Customer’s nominated accounts and the provision of decentralised trading tools and instruments. Deposited Currency means the authorized currency of Australia or such other sovereign nation as is acceptable to the Company and held in a Customer's Account. Commission means an amount levied as payment to the Company for arranging and matching a Transaction. A Commission is generally levied as a percentage of the value of a Transaction. Fee means an amount levied by the Company in relation to a Customer's Account. It may be levied against a particular Customer's Account or in respect of a class of Accounts or across all Accounts. Fees may also be levied in respect of specific services provided to Customers. Instruction means an offer to buy or offer to sell Tokens through the Platform at the price, if any, nominated in such Instruction plus any applicable Commission. Transaction means the purchase or sale of Tokens arising from an Instruction. Token means a cryptographic unique software token