Welcome to Zugavalize!
The Platform provides services to Users registered with the Platform (hereinafter referred to as the “Users”) in accordance with the terms and conditions of this Agreement (defined below), and this Agreement shall be legally binding between the Users and the Platform. The Platform hereby reminds the Users to carefully read and fully understand the terms and conditions of this Agreement, especially those terms and conditions of this Agreement that exclude or limit the liability of the Platform and exclude or restrict the rights and interests of the Users. The Users shall read carefully and choose to accept or reject this Agreement. Unless a User accepts all the terms and conditions of this Agreement, the User shall not be entitled to use the services provided by the Platform. If the User does not agree to the content of this Agreement or refuses to recognize the right of the Platform to make unilateral amendments to this Agreement at any time, the User shall promptly stop using and cease to access the Platform. By registering as a User of the Platform or using the services offered, a User is deemed to fully understand and fully accept all the terms and conditions of this Agreement, including any amendments that this Company may make to this Agreement at any time.
- For the convenience of wording in this Agreement, the Platform is collectively referred to as “we” or other applicable forms of first-person pronouns in this Agreement. All natural persons and other visitors who log onto this Website shall be referred to as “you” or any other applicable forms of the second-person pronouns. You and we are collectively referred to as “both parties”, and individually as “one party” herein.
- All references to this agreement shall be deemed as references to the most recent version thereof, regardless of whether any of such amendment is made before or after the signing of this Agreement.
Definition and Interpretation
- In this Agreement, the following terms and expressions shall have the meanings ascribed to them below, unless any term or condition herein requires otherwise:
(b) Force Majeure: includes maintenance of information network equipment, failure of access to information networks, failures of computer, communication or other systems, power failures, weather, accidents, industrial actions, labor disputes, riots, insurrections, disturbances, inadequacy in productivity or means of production, fires, floods, storms, explosions, wars or other factors on the part of cooperation partners, the collapse of the digital asset market, government actions, judicial or administrative orders, and other circumstances that are beyond the control of the Platform.
(c) Intellectual Property Rights: shall have the meaning ascribed to it under section 47 of this Agreement.
- The Platform, whose objective is as mentioned above will engage in any ancillary services necessary and incidental to the actualization of its primary objective.
- You agree to provide such information as your name, email address, mobile phone number, and password as is required by the Platform’s User registration page.
- Each User shall hereby make the following undertakings;
(a) the User registers with the Platform and uses the Platform for the purpose of legally trading, storing, and keeping track of the User’s own Zugacoin, and does not have any intention to use the Platform to violate any law or regulation.
(b) the User must guarantee and undertake that the funds the User uses in trading through Zugacoin.io are from legal sources and have not been derived from any illegal activities or means;
(c) the User has the obligation to maintain and update the User profile and ensure that it is true, up-to-date, valid, and complete;
(d) the User (whether as an individual or body incorporate) is not a resident of or registered in, any of the jurisdictions that the Platform has deemed to be high risk or illegal.
(e) in addition to this Agreement, the User shall also comply with all rules issued and updated by the Platform from time to time.
- Unless the information submitted by a User is so clearly false, wrong, and incomplete, the Platform has the right to rely on the information provided by the User.
- If the User violates any of his/her/its undertakings under Article 17 of this Agreement:
(a) the Platform has the right to adopt such measures as suspending or the User’s account with the Platform and refusing to allow the User to use part or all of the functions of the Platform services (including access to the User’s digital assets). In this case, the Platform shall not be held responsible in any manner whatsoever and the User agrees to bear any and all direct or indirect expenses or losses arising therefrom;
(b) if the Platform services cannot be provided or any error occurs in the provision of such services due to the User’s failure to update his/her/its profile or provide the necessary information requested by the Platform, the Platform shall not bear any responsibility whatsoever; and all consequences shall be borne exclusively by the User;
(c) the User shall bear any and all direct or indirect losses and adverse consequences arising from the User’s breach of any of the undertakings; any and all illicit gains that the User may gain from such breach shall be deducted, and the Platform reserves the right to hold Users accountable.
- The Platform shall have the right to terminate the registration of a User as such or terminate the User’s access to his/her/its account with the Platform (in its sole and absolute discretion) if the Platform finds out that the User is not suitable for high-risk investment and/or if the Platform is of the view (in its sole and absolute discretion) that the User has breached any of the terms of this Agreement.
- Notwithstanding the other terms and conditions of this Agreement, the Platform has the discretion to cancel the registration of the User who has already been authenticated. The Platform has the right to refuse to permit or cancel the registration of any User, and has no obligation to inform the User of the reason for rejecting the registration thereof. The Platform does not bear any direct or indirect losses suffered by the User due to the Platform’s refusal to permit the registration of such User.
- Users register as Users of the Platform on the basis of their free will. The Platform does not force, induce, deceive, or otherwise exert influence on them in an unfair manner so that they would register with the Platform.
- The Platform provides the following services to Users who have completed their registration with the Platform:
(a) Zugacoin storage services;
(b) customer services;
(c) technical and management services ensuring the normal operation of the Platform;
(d) other services publicly announced by the Platform.
- The Platform cannot provide any investment, legal, taxation, or other professional opinions to the Users in connection with digital asset transactions. Moreover, any information, discussion, analysis, price, and other information provided by any Platform are general comments and do not amount to advice to the Users in connection with any digital asset transaction. A User that needs any professional advice should consult relevant professionals for professional advice on investment, law, taxation, or other professional advice related to digital cash transactions. The Platform does not assume any direct or indirect losses (including any loss of profits) caused by a User’s reliance on the above-mentioned general comments.
- A User can view the corresponding transaction records of digital assets through the transaction details in the personal account of such User.
- The Platform has the right to amend, suspend, or permanently terminate some or all of the services the Platform provides to a User for any of the following reasons:
(a) as is required by any of the laws, regulations, rules, and orders of the sovereign country or region where the User is based;
(b) as may be necessary for the Platform to protect the legitimate interests of the Platform or customers thereof;
(c) any other justifiable reason.
- If the Platform modifies, suspends, or permanently terminates some or all of the services that the Platform offers to a User based on section 15 of this Agreement, the effective date of such modification, suspension or termination shall be subject to the Platform’s announcement.
- The Users understand and agree that it is the responsibility of Users to ensure the confidentiality and security of their accounts and passwords. The Users will assume full responsibility for all actions and statements made using the Users’ accounts and passwords and agree to the following:
(1) Users should create passwords in accordance with relevant rules of the Platform and relevant prompts of the Platform (passwords include but are not limited to login passwords, fund passwords, mobile phone numbers bound when registering accounts, mobile phone verification codes received via mobile phones, Google verification, inter alia. Specific forms thereof may change; the same hereinafter. They should avoid choosing overly obvious words or dates as their passwords, such as Users’ names, nicknames, birthdays, inter alia.
(2) The Users shall not disclose their accounts or passwords to any other person, nor shall they use the accounts or passwords of any other person. If the account of a User is illegally used by any other person due to factors not attributable to the Platform, e.g, hacking, virus or negligence on the part of the User, the Platform will not assume any responsibility whatsoever;
(3) the Users are prohibited from giving, lending, renting out, transferring or otherwise disposing of the Platform account to any third party without the consent of the Platform;
(4) the Platform recognizes the Users’ instructions through the Users’ accounts and passwords. The Users hereby confirm that all their conduct on the Platform after they log into the Platform using their accounts and passwords shall represent the Users themselves. The electronic information records generated by the operation of the Users’ accounts are all valid evidence of the Users’ conduct, and the Users shall bear any and all the responsibilities arising therefrom.
(5) The Users shall adopt appropriate measures to ensure the security of their accounts and passwords after the Platform notifies the Users of foreseeable security risk.
(6) Where any person uses the account and password of a User without due authorization, the Platform and the legally authorized subject reserve the right to hold the actual User jointly and severally liable.
- If a User discovers that a third person fraudulently uses or embezzles the User’s account and password, or such third person’s use of the User’s account involves any absence of requisite and due authorization, the User shall promptly notify the Platform in an effective manner and request the Platform to suspend relevant services; otherwise all the responsibilities arising from such use shall be borne by the User exclusively. Furthermore, the User understands that the Platform needs a reasonable period of time to take action on the User’s request; the Platform shall not be held liable for any loss that may arise in connection with such third person’s use of the services before the Platform takes action.
- Where the Platform deems on its unilateral and independent judgement that any event that undermines the security of storing of assets may arise, the Platform shall have the right to suspend, interrupt or terminate all or part of the User services (including fee-based services) provided to a User under this Agreement, remove or delete registration information of such a User, seize illicit profits that the User may gain, without notifying such User and without assuming any responsibility to such User or any third party. The aforementioned events include:
(1) the Platform believes that the information provided by the User is not authentic, valid or complete, e.g, where the User registers with the Platform on the basis of identity information of any other person that the User uses without due authorization, or the information provided by the User for verification is inconsistent with relevant facts;
(2) the Platform uncovers any abnormal transaction by the User or any transaction by the User is suspicious or may be illegal;
(3) the Platform believes that the User’s account is suspected of being involved in money laundering, cash-out, pyramid selling, fraudulent use or other situations that the Platform believes are risky or unlawful;
(4) the Platform discovers that the User uses any illegal or improper technical means to engage in any activity that endangers the security of trading or affects fair trading, including tampering with transaction data, stealing customer information, stealing transaction data, attacking other registered accounts through the Platform, inter alia;
(5) the Platform believes that the User has violated any of the rules under this Agreement or the spirit thereof;
(6) the User account has not been logged in or actually used for one year in a row, or the amount of digital assets
in the account is zero;
(7) any other circumstances under which the User breaches this Agreement;
(8) other circumstances under which the Platform, based on its sole judgment, needs to suspend, interrupt or terminate all or part of the User services (including fee-based services) provided to Users under this Agreement and remove or delete the registration information on the ground of transaction security and other reasons.
- When a User decides to cease to use his/her/its User account, the User shall first pay off all outstanding payables (including service fees, inter alia), then withdraw all available digital assets (if any) from the User account that are eligible for withdrawal, apply to the Platform for freezing the User account, and formally cancel the User account upon approval by the Platform.
- The User agrees that if the identity verification procedure for his/her/its User account fails to be completed, and the account fails to be logged into for a year in a row, the Platform has the right to terminate the supply of User account services without prior notice to the User, and the Platform may promptly suspend, close or delete the User account and all relevant materials and files in the User account.
- The User agrees that the suspension, interruption or termination of the User’s account does not represent the termination of the User’s responsibilities. The User shall still be liable for any possible breach of agreement or damages that may arise due to or in connection with such User’s conduct during the time when such User uses the services provided by the Platform; furthermore, the Platform may continue keeping relevant information of the User.
Guarantees and Undertakings of Users
- The Users undertake that they will never use the Platform services for any illegal purpose or in any illegal way, and undertake to abide by the relevant laws and regulations of the country where they are located, as well as all international practices relating to the use of the Internet, and to abide by all network protocols, rules and procedures related to the Platform services.
- The Users agree and guarantee that they will not use the Platform services to engage in any infringement of the rights and interests of any other person or for any illegal conduct, and they shall bear any and all legal liabilities if they breach such guarantee. The above-mentioned infringements and conduct include:
(1) accessing the Platform services in the name of any other person without being duly authorized by such person;
(2) engaging in any illegal transaction, such as trafficking of firearms, narcotics, forbidden drugs, pirated software or other prohibited items;
(3) providing gambling information or inducing in any manner any other person to engage in gambling;
(4) engaging in suspected money laundering, cash-out or pyramid selling activities;
(5) engaging in any conduct that may result in vulnerability to computer virus or may damage the Platform services system or data therein;
(6) using the Platform services system to engage in any activity that may adversely affect the normal operation of the Internet or mobile computer network;
(7) maliciously interfering with the normal proceeding of digital asset transaction and disrupting the order of digital asset trading;
(8) using any technical means or other means to interfere with the normal operation of the Platform or interfering with the use of Platform services by any other User;
(9) maliciously defaming the goodwill of the Platform by fabrication or exaggeration;
(10) any other conduct that is justifiably deemed by the Platform as inappropriate.
- The Platform reserves the right to delete all types of information of a User in the Platform that does not conform to legal policies or is untrue or inappropriate on the basis of the independent judgement by the Platform, without notifying the User and without assuming any responsibility. If the User fails to comply with the above provisions, the Platform has the right to take measures such as suspending or closing the User’ account on the basis of its own independent judgement and without assuming any responsibility.
- The User agrees that if any third party initiates or launches any claim or demand for compensation (including attorney fees) on the ground that the User breaches this Agreement or violates any document that is incorporated into this Agreement by reference and becomes a part of this Agreement, or that the User’s use of the Platform services violates any law or infringes on any right of the third Party, the User will indemnify and hold harmless the Platform and affiliated parties thereof, cooperation partners, directors and employees thereof against such claim or demand.
- The User undertakes that the information uploaded or released by the User through the Platform is authentic and valid, and any and all the information the User submits to the Platform is authentic, valid, complete, detailed and accurate. If the Platform or any other User of the Platform suffers any loss due to the User’s breach of the above undertakings, the User will assume corresponding liabilities.
- The Users understand and agree that the Platform provides services to eligible Users. The Platform does not assume any responsibility for the investment of digital assets on the Platform. The Platform cannot and does not have the obligation to ensure the success of the Users’ investment. The losses arising from the Users’ investment or transaction of digital assets shall be borne by the Users exclusively.
- A User agrees to take responsibility for all activities that occur in his/her/its registered account with the Platform (including information disclosures, information releases, clicks to agree to various agreements, clicks to agree to renew various agreements etc), and during the above-mentioned activities, if the User fails to comply with the terms and conditions of this Agreement the Platform shall not be held liable in any manner whatsoever.
- The Users agree that the Platform has the right to place various commercial advertisements or other commercial information of any kind in various ways on the platform and via mail and the Users agree to accept the commercial promotions or other relevant commercial information that the Platform sends to the Users by email or other means.
31. The Users agree that given the unique nature of the Internet, the Platform does not guarantee that services will not be interrupted, nor does it guarantee the timeliness and/or security of the services. If the system is unable to operate normally due to any event, as a result of which the Users cannot use any of the Platform services or their use of the services is adversely affected, the Platform shall not be held responsible to the Users or any third party. The aforesaid events include:
(a) where the Platform system is shut down for maintenance;
(b) where there is an error or failure in the telecommunication equipment, as a result of which it is impossible to transmit data;
(c) where the Platform services are interrupted or delayed due to such factors as hacker attacks, technical adjustments or failures on the party of network service providers, or website upgrades, inter alia;
(d) where the Platform system is unable to function due to force majeure factors such as typhoons, earthquakes, tsunamis, floods, power outages, wars, terrorist attacks, inter alia.
- The Platform does not provide any form of guarantee for any Platform services, including the following:
(a) Platform services will meet the needs of Users;
(b) Platform services will be provided promptly without any interference or error;
(c) any products, services, information or other materials purchased or obtained by Users through Platform services will meet the expectations of the Users;
(d) all information, programs, text, data, and other information contained in the Platform are completely safe and free from interference and destruction by any malicious programs such as viruses and Trojans;
(e) all the calculation results of transactions have been duly verified by the Platform; the corresponding calculation methods will be publicized on the Platform, but the Platform cannot guarantee that there is no error or interference in such calculation.
- The Users acknowledge and agree that under no circumstance will the Platform assume responsibilities for any of the events below:
(a) loss of the income of Users;
(b) loss in the Users’ transaction profits or contractual loss;
(c) losses arising from interruption, suspension, or termination of services;
(d) losses of expected saved transaction cost;
(e) losses caused by information transmission problems;
(f) loss of investment or trading opportunities;
(g) loss of goodwill or reputation;
(h) losses caused by loss of or damage to data;
(i) the cost of purchasing alternative products or services;
- The Users understand and agree that under no circumstances, shall the Platform be required or obliged to indemnify the Users for all or part of their losses, including (without limitation):
(a) where the Platform reasonably believes or suspects that Users’ conduct on the Platform is illegal or immoral.
(b) where the Users mistakenly believe that losses are caused by factors attributable to the Platform;
(c) any other losses caused by factors not attributable to the Platform.
- The advice or information obtained by Users from the Platform and staff thereof or through Platform services, whether written or oral, do not constitute any guarantee for Platform services.
- The Platform does not guarantee the accuracy, validity, security, or integrity of the external links that it lists to provide convenience to the Users. Furthermore, the Platform does not assume any responsibility for the content on any web page that such external links may point to and that is not controlled by the Platform.
- Unless this Agreement stipulates otherwise, under any circumstances, the total liability of the Platform for breach of agreement under this Agreement shall not exceed the total amount of service fees charged on the services provided to the Users for the current digital asset transaction.
- Unless this Agreement stipulates otherwise, under all circumstances, if a User breaches this Agreement or any of the laws and regulations of the country where the User is located, and consequently causes any damage to the Platform, the User shall indemnify the Platform against all direct and/or indirect losses (including litigation costs, etc)
38. Users acknowledge and agree that no transaction through the Platform is free from the following risks, and the Platform cannot and does not have the obligation to be responsible for the following risks:
(a) macroeconomic risks: Users may suffer losses due to abnormal price fluctuations arising from changes in the macroeconomic situation;
(b) policy risks: changes in relevant laws, regulations, policies, and rules may cause abnormal fluctuations in prices and other areas, as a result of which the Users may suffer losses;
(c) default risks: Users may suffer losses due to the inability or unwillingness of the project owner to carry out or continue carrying out their project;
(d) risks related to earnings: digital assets are not issued by any financial institution or platform, and the digital asset market is a brand new and unconfirmed market that may not generate an actual increase in earnings;
(e) trading risks: digital assets are mainly used by speculators, and are used relatively less in retailing and commercial markets; the trading of digital assets involves an extremely high level of risk because trading of digital assets goes on uninterrupted throughout the day without any limits on the ups and downs, and therefore prices are subject to large fluctuations caused by traders and/or global government policies;
(f) risks caused by force majeure factors;
(g) User’s fault: all losses caused by the Users’ fault, including loss caused by wrong decision-making, improper operation, forgetting or revealing passwords, deciphering of passwords by others, third-party intrusion into computer systems used by the Users, and malicious or improper operation by a third party entrusted by the Users to serve as their agent.
- Given the risks arising from digital asset transactions, if a User has any doubts about such transactions, the User should seek the assistance of professional consultants before the transaction.
- The Platform does not provide any guarantee or condition to any User and/or any transaction, whether express, implied, or statutory. The Platform cannot and does not attempt to control the information released by Users or project owners. The Platform does not undertake any form of certification and authentication services for such information. The Platform cannot fully guarantee the authenticity, sufficiency, reliability, accuracy, integrity, and validity of all content on the Platform, and does not need to bear any legal responsibilities arising therefrom. The Users should base their transactions on their independent judgment and assume full responsibility for their judgment.
41. The Platform does not make any express or implied guarantee for its Users to use the Platform services, including but not limited to the applicability, absence of errors or omissions, continuity, accuracy, reliability, and suitability for a particular purpose. Furthermore, the Platform does not make any undertaking and guarantee in connection with the validity, accuracy, correctness, reliability, quality, stability, integrity, and timeliness of the technologies and information involved in the services provided by the Platform.
- Whether to log into the Platform or use the services provided by the Platform is the personal decision of individual Users, who shall exclusively bear all risks and possible losses that may arise from such decision. The Platform does not make any express or implied guarantee in connection with the market, value, and price of digital assets. The Users know and understand the instability of the digital asset market. The price and value of digital assets may fluctuate significantly or collapse at any time. Engaging in digital asset transactions is the free choice and decision by individual Users, who shall exclusively bear the risks and possible losses that may arise.
- The above clauses do not reveal all the risks and market situations that the Users may be subject to when they engage in transactions through the Platform. Before making a decision relating to transactions, the Users should fully understand the relevant digital assets, adopt a cautious approach to decision-making based on their transaction objectives, risk tolerance capacity, and asset status, and assume all risks exclusively on their own.
- Any loss or liability caused by factors attributable to a User shall be borne by such User exclusively and the Platform shall not be held liable in any manner whatsoever. Circumstances under which the Platform shall not be held liable include:
(a) where any loss or liability is caused by the User’s failure to operate by this Agreement or any rules published by the Platform from time to time;
(b) where any loss or liability is caused by any uncertainty, ambiguity, or incompleteness in the instruction information sent by the User to the Platform;
(c) where any loss or liability is caused by an insufficient balance of digital assets in the User’s account;
(d) where any losses or responsibilities are caused by any other factor attributable to the User.
Transaction Fees and Other Fees
- If a User uses the Platform services, the Platform will charge relevant Platform service fees on the User. The Platform reserves the right to unilaterally formulate and adjust the rates of the Platform services fees.
Protection of Intellectual Property
- Intellectual property rights, including trademark rights, patent rights, copyrights, trade secrets, and so on, to all the content on the platform, including works, pictures, archives, information, materials, platform architecture, the arrangement of the platform screen, platform design, text and graphics, software compilation, the relevant source code, and software, are legally owned by the Platform or other rights-holders.
- Without the written consent of the Platform or other rights holders, no one is allowed to use, modify, copy, publicly disseminate, change, distribute, release or publicly publish the Platform program or content without due authorization.
- Without the explicit written consent of the Platform, no part thereof may not be copied, photocopied, duplicated, sold, resold, accessed, or otherwise used for any commercial purpose. Without the explicit written consent of the Platform, the Users are not allowed to use any technique to acquire any of the trademarks, logos, or other proprietary information (including images, text, web designs, or forms) of the Platform or affiliated companies thereof. Without the explicit written consent of the Platform, Users are not allowed to use the name or trademark of the Platform or affiliated companies thereof in the form of meta tags or any other “hidden text”. Any such unauthorized use will result in termination of the permit or license granted by the Platform.
- Neither the Users’ logging into the Platform nor their use of any service provided by the Platform shall be deemed as the transfer of any intellectual property rights from the Platform to Users. The Users are subject to the obligation to respect intellectual property rights, and should the Users infringe on any of the intellectual property rights, the User shall bear legal liabilities to the Platform, including indemnifying the Platform against damages that may arise therefrom.
- All rights reserved. No part of the website or any of our products, or Mobile Applications may be copied, reproduced, ripped, recorded, re-engineered, decompiled, disassembled, modified, distributed, or transmitted in any form or by any means either electronic or mechanical methods, without the prior written permission of the Platform.
Further Disclaimer warranty
- This Service is provided on an “as is” and “as available” basis without warranties of any kind, either express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. Your use of the Mobile Application and any other material or services downloaded or made available to you through the software is at your discretion and risk, and you are solely responsible for any damage resulting from their use.
- Please contact us if you have a complaint, and we will try our best to resolve it. Parties agree to make their best efforts to resolve any dispute or difference of opinion arising from or in connection with this Agreement amicably through mutual dialogue.
Where the Parties are unable to resolve the dispute through mutual agreement within 30 days from receiving the Notice of Dispute, the dispute shall be submitted to arbitration in the English language by the Arbitration and Conciliation Act Cap. A18, Laws of the Federation of Nigeria 2004, or any amendment thereto. The place of arbitration shall be the Federal Capital City, Abuja, Nigeria and there shall be a sole arbitrator who shall be appointed jointly by the parties. Where the parties fail or are unable to jointly agree on the appointment, they shall approach the Court of International Arbitration to appoint a sole arbitrator who shall be competent to adjudicate on the issue in dispute. The arbitral award shall be final and binding between the Parties.