9/4/2018                                                                                HLBIT Exchange | Terms and Conditions

        HLBIT Exchange Terms and Conditions

  1. What are these Terms and Conditions?

  1. These Terms and Conditions set out the terms on which HLBIT Exchange provides the Platform and the Services, and upon which you agree to use the Platform and the Services.

  1. Please review these Terms and Conditions carefully and make sure that you understand them before using the Platform and the Services (including making an Order). If you do not agree to these Terms and Conditions, you will not be allowed to and must cease use of the Platform and the Services (including making an Order).

  1. Acceptance of Terms and Conditions

  1. By using the Platform and the Services (including making an Order), you accept and agree to be bound by these Terms and Conditions.

  1. HLBIT Exchange may at any time unilaterally modify these Terms and Conditions. HLBIT Exchange is under no obligation to notify you of any changes to these Terms and Conditions. You agree that it shall remain your sole responsibility to ensure that you are kept up-to-date with these Terms and Conditions, as may be amended from time to time.  By continuing to use the Platform and Services (including making any Order) after changes to these Terms and Conditions are made, it shall be deemed that you have agreed to be bound by such changes.

  1. You may review the most current version of our Terms and Conditions at any time by clicking on the “Terms and Conditions” link located at https://HLBIT.exchange/login/terms-conditions. It is your responsibility to ensure that you are familiar with the current Terms and Conditions. You are advised to check the above link on a regular basis.

  1. Definitions

  1. In these Terms and Conditions:

Account” means the account with HLBIT Exchange which is created when a User registers with HLBIT Exchange by completing the prevailing registration form available on the Platform and/or at one of HLBIT’s customer care centres, and such account is approved by HLBIT Exchange after the conduct of due diligence and Know Your Client procedures.

AML Documentation” means the documentation required to be provided by the User as set out in our Anti-Money Laundering Policy.

Cryptocurrency” or “Cryptocurrencies” means any digital asset(s) which we support on the Platform, including Ethereum and Bitcoin, as may be varied from time to time.

Customer” means a user of the Platform with a Verified Account with HLBIT Exchange who, in addition to using our Services (such as making any Order on the Platform), may also make withdrawals and/or deposits of (i) Cryptocurrencies to and/or from another third-party platform and/or (ii) Fiat Currency from/at any one of HLBIT Exchange’s customer care centres.

Fees” or “Commissions” means such fees or commissions as HLBIT Exchange may impose for the use of any Service provided by HLBIT Exchange from time to time.

Fiat Currency” means any national government issued currency (such as SGD) that may be used to purchase Cryptocurrencies via the Platform.

Order” means any instruction from a User to buy or sell or otherwise trade any supported Cryptocurrencies using our Platform. No Order shall be deemed accepted or complete until it has been matched with another User(s) placing the opposing Order(s) and therefore completing the trade (as further detailed in Clause 6). For the avoidance of doubt, any request made by a Customer for the withdrawal of Cryptocurrencies or Fiat Currency from the Platform shall not be an Order.

Platform” means the trading platform published by HLBIT Exchange from time to time, including the trading platform at “exchange.HLBIT.store”.

HLB token” are a form of Cryptocurrency and means digital assets issued by HLBIT Private Limited, which may be used on HLBIT Exchange’s Platform as a substitute for transactional fees incurred by Users on Orders made on the Platform.

HLBIT Exchange”, “we”, “us” and “our” are references to HLBIT Private Limited.

Sale Period” means the period commencing from date of the launch of HLB token, up to and until thirty (30) days thereafter.

Service” or “Services” means any one or more service provided by HLBIT Exchange to a Customer or User from time to time, whether or not relating to the selling and buying of Cryptocurrencies, and includes providing a platform for Customers and Users to trade by either selling or buying Cryptocurrencies.  

User” means a user of the HLBIT Exchange Platform, and includes a Customer.

Verified Account” means the account of a Customer with HLBIT Exchange, which may only be set up in accordance with Clause 5 of these Terms and Conditions herein. For the avoidance of doubt, HLBIT Exchange shall have the sole discretion in deciding whether to grant a User a Verified Account.

  1. What is HLBIT Exchange?

  1. HLBIT Exchange operates the Platform. The Platform is an electronic web interface through which Users may trade by either:

  1. placing an Order for the purchase of suported Cryptocurrencies; or

  1. placing an Order for the sale of supported Cryptocurrencies.

  1. In placing an Order, a User may convert Fiat Currency or Cyptocurrency intoto Cryptocurrency or another Crytocurrency (as the case may be) and vice versa.

  1. HLBIT Exchange may refuse to process, or may cancel, any Order (including partially fulfilled Orders) at its sole discretion, or as may be required by law or in response to a requirement or request of a regulator or a court of competent jurisdiction.

  1. Users may only place Orders in relation to Cryptocurrencies that HLBIT Exchange, in its sole discretion, decides to support. The Cryptocurrencies that HLBIT Exchange supports may change from time to time.  

  1. You may not use HLBIT Exchange’s Platform to store, send, request, or receive Cryptocurrencies (or other digital assets) which are not expressly supported by HLBIT Exchange. If you attempt to place an Order via our Platform for a Cryptocurrency which is not supported by us, we are under no obligation to return such Cryptocurrency to you.

  1. Registering as a User

  1. Anyone may access the public areas of the Platform which contain general information about HLBIT Exchange and our Services without registering as a Customer or User.

  1. If you wish to place an Order, you will first be required to register as a User. In order to comply with HLBIT Exchange’s due diligence and Know Your Client procedures, the registration procedure shall be as follows:

  1. Completion of the new User registration form which can be found on the Platform; and

  1. Provision to HLBIT Exchange of the AML Documentation (as set out in our Anti-Money Laundering Policy).

        HLBIT Exchange reserves the right to request for any other documents or information from you that may be necessary for the conduct of its due diligence and Know Your Client procedures.

  1. If HLBIT Exchange, in its sole and absolute discretion, is satisfied that you comply with all the applicable requirements, HLBIT Exchange will provide you with a Verified Account to access the Platform as a Customer. For the avoidance of doubt, HLBIT Exchange may refuse to grant a Verified Account to any User without providing a reason.

  1. After a Verified Account is provided to a Customer, the Customer undertakes to provide HLBIT Exchange as soon as practicable on demand with any and all information that HLBIT Exchange may require, or that in HLBIT Exchange’s sole and absolute discretion HLBIT Exchange considers necessary, including without limitation for the purposes of providing such information to any applicable governmental or regulatory authority in relation to regulatory compliance or anti-money laundering laws and regulations.

  1. HLBIT Exchange reserves the unqualified and unfettered right to terminate, at any time, any Account, verified or not, of any Customer or User, for any reason whatsoever, without providing a reason. In such an event, HLBIT Exchange shall, within a practicable time, return any and all Cyptocurrencies and Fiat Currency standing to the account of the Customer or User after set-off for transaction fees and other legitimate deductions.

  1. Orders

  1. The User will place his Order with HLBIT Exchange electronically via HLBIT Exchange’s Platform.

  1. The User acknowledges and accepts that once an Order has been made, HLBIT Exchange cannot reverse or cancel it if it has been matched with opposing Order(s) whether in full or in part.

  1. Once an Order has been made by the User, it will be matched with the first available Order made by another User on the Platform. For example, if you enter an Order to sell 100 Cryptocurrency at or above a price of SGD X per unit of Cryptocurrency, the Platform will match your Order with an Order of a User who wishes to buy Cryptocurrency at a price above or equal to price SGD X per unit of Cryptocurrency.

  1. The Platform may partially fulfil an Order made by a User. For example, your Order to sell 100 units of a particular Cryptocurrency B at or above price SGD Y might be matched first with an Order to buy 50 units of a particular Cryptocurrency B at or above SGD Y. This would leave you with a partly-unperformed Order equal to 50 units of the Cryptocurrency for sale at a price above or equal to SGD X.

  1. Each Order entered on the Platform is irrevocable and binding on the User.  HLBIT Exchange cannot and will not reverse an Order to the extent that it has been matched with one or more other Orders as set out above, whether in full or in part.

  1. Where an Order has not been matched at all, HLBIT Exchange may, in its sole and absolute discretion, cancel the Order.

  1. HLBIT Exchange shall at all times be entitled to operate on the basis that each Order is correct and does not contain any errors (including in the case of manifest errors).

  1. Each Order will be confirmed to the User using the Platform’s record-keeping function which can be viewed by the User using the Account portal.

  1. HLBIT Exchange records the details of every Order undertaken for a User including the tracking numbers of all Cryptocurrency provided by or to a User.

  1. HLBIT Exchange has the right at any time to refuse to accept an Order without any liability or reason.

  1. Depositing Funds and Cryptocurrency

  1. Prior to making any Order to purchase Cryptocurrency, the User must have credited sufficient Fiat Currency or Cryptocurrency to his Account to meet any such Order. HLBIT Exchange shall not permit any Order to be placed, or if placed, shall not execute any such Order until cleared funds or Cryptocurrency have been received and verified by HLBIT Exchange.

  1. Funds are credited to a User’s Account by the User making a Fiat Currency deposit at any HLBIT customer care centre, or a transfer from his bank account, to HLBIT Exchange’s Client Account using the Platform. Credited funds will show as a credit funds balance on the User’s Account when successfully received and processed by HLBIT Exchange.

  1. Cryptocurrency is credited to a User’s Account by the User:

  1. Making a transfer from his Cryptocurrency wallet to HLBIT Exchange’s Client Cryptocurrency wallet using the Platform; or

  1. Purchasing Cryptocurrency with Fiat Currency at a HLBIT customer care centre.

Credited Cryptocurrency will show as a credit Cryptocurrency balance on the User’s Account when successfully received and processed by HLBIT Exchange.

  1. All payments made to HLBIT Exchange under these Terms and Conditions are to be made in full without any set-off, counterclaim or deduction whatsoever.

  1. Computation

Orders from Fiat Currency/Cryptocurrency to Cryptocurrency

  1. A User shall only be able to place an Order to exchange any Fiat Currency or Cryptocurrency into Cryptocurrency if the full amount of Fiat Currency/Cryptocurrency to make such Order has been credited to his Account on the Platform.

  1. In calculating how much Cryptocurrency can be purchased by a User using Fiat Currency/Cryptocurrency, HLBIT Exchange shall take into account the Fees and/or Commissions applicable to the Order.

  1. HLBIT Exchange shall provide a confirmation to the User showing the exchange rate, the amount of Cryptocurrency purchased and the Fiat Currency/Cryptocurrency cost. This confirmation will be viewable in the “transaction history” section of the Platform.

  1. On completion (whether in full or in part) of an Order, HLBIT Exchange shall credit to the User’s Account on the Platform the amount of Cryptocurrency purchased.

  1. Any User making a deposit of Fiat Currency/Cryptocurrency into his Account in excess of SGD20,000 (or its equivalent) shall provide HLBIT Exchange with proof of source of the Fiat Currency/Cryptocurrency.

Orders from Cryptocurrency to Fiat Currency

  1. A User shall only be able to place an Order to exchange Cryptocurrency into any Fiat Currency if the full amount of Cryptocurrency to make such Order has been credited to his Account on the Platform.

  1. In calculating how much Fiat Currency can be purchased by a User using Cryptocurrency, HLBIT Exchange shall take into account the Fees and/or Commissions applicable to the Order.

  1. HLBIT Exchange shall provide a confirmation to the User showing the exchange rate, the amount of Fiat Currency purchased and the Fiat Currency cost. This confirmation will be viewable in the “transaction history” section of the Platform.

  1. On completion (whether in full or in part) of an Order, HLBIT Exchange will credit to the User’s Account on the Platform the amount of Fiat Currency purchased.

  1. Any User making a deposit of Cryptocurrency into his Account in excess of the equivalent of SGD20,000 shall provide HLBIT Exchange with proof of source of the Cryptocurrency.

Orders for exchange of Cryptocurrency to HLB token

  1. HLB token shall be launched on HLBIT Exchange in exchange for Ethereum.  For the duration of the Sale Period, HLB token shall be exclusively traded on the HLBIT Exchange. HLB token are intended only for use on HLBIT Exchange as an alternative payment method for transactional fees on future Orders on HLBIT Exchange.

  1. Users may transfer their HLB token out of HLBIT Exchange to be traded externally on any third-party exchange after the Sale Period.

  1. Withdrawing Funds and Cryptocurrency

  1. A Customer with a Verified Account shall be permitted to withdraw Fiat Currency/Cryptocurrency credited to his Account on the Platform by making a withdrawal instruction via the Platform.

  1. Where a withdrawal instruction is received by HLBIT Exchange in respect of any Fiat Currency, HLBIT Exchange shall pay such funds to the bank account of the Customer nominated on registration. The Customer cannot receive funds into another bank account or in any other means without the prior agreement of HLBIT Exchange.

  1. Where a withdrawal instruction is received by HLBIT Exchange in respect of any Cryptocurrency, HLBIT Exchange shall credit such Cryptocurrency to the Cryptocurrency wallet of the Customer nominated on registration or subsequently agreed with HLBIT Exchange.

  1. HLBIT Exchange shall make payments in the relevant Fiat Currency and Cryptocurrency to the Customer (and shall credit the Customer’s Account) in full unless (i) it is required by law to withhold sums in respect of taxation, or (ii) it is or will be owed amounts which are incurred in respect of transfer charges that may be levied, or (iii) the Customer owes HLBIT Exchange amounts in respect of other Orders, Fees or Commission which have not been settled in accordance with these Terms and Conditions. In the event that HLBIT Exchange is required or permitted to make any deductions pursuant to this clause, HLBIT Exchange shall be permitted to make deductions in the relevant Fiat Currency or Cryptocurrency in its sole and absolute discretion.

  1. The Customer warrants that it owns and is fully responsible for any Cryptocurrency wallet he has notified HLBIT Exchange for the purposes of receiving Cryptocurrency withdrawn from the Platform.

  1. The Customer warrants that he owns and is fully responsible for any Cryptocurrency wallet nominated by him for use for the purposes of sending Cryptocurrency deposited to the Platform.

  1. No Financial or Other Advice

  1. HLBIT Exchange may at its sole and absolute discretion from time to time provide information to the User on Fiat Currencies and Cryptocurrencies.

  1. Notwithstanding any such information provided by HLBIT Exchange, the User acknowledges and agrees that it enters into each Order of its own free will without reliance on any information provided by HLBIT Exchange and that such Order is at its own risk. The User shall not rely on HLBIT Exchange for advice on the timing or terms of any Order.

  1. The User acknowledges and agrees that the exchange rate between Fiat Currencies and Cryptocurrency varies regularly and will be affected by matters and events outside of the knowledge or control of the User and HLBIT Exchange.

  1. The User further acknowledges the risks associated with transactions and execution of trades, real or virtual, and understands that Cryptocurrency trading involves significant inherent risk, as rates may fluctuate substantially on any given day which may result in the User gaining or losing the entire value of his assets at any given moment.

  1. The User also acknowledges and agrees that access and use of HLBIT Exchange is at his own risk. There may be additional risks which have not been disclosed. The User confirms that he has carefully assessed whether his financial situation and tolerance for risk is suitable for buying, selling or otherwise trading Cryptocurrency and hereby agrees to hold HLBIT Exchange harmless and waives any and all rights, claims, or causes of action of any kind pertaining to any damages of any kind whatsoever.

  1. User Representations

  1. The User represents and warrants as at the date of each Order and on its settlement date that:

  1. The User is acting as principal in respect of the Order and is not acting for another person;

  1. The User has full power and authority to enter into the Order and is the beneficial owner of all Fiat Currency/Crytocurrency paid or to be paid at the settlement date free from any charge or encumbrance;

  1. The information provided by the User in relation to the Order (and all AML Documentation provided by the User) is at the time of the Order complete, accurate, current and not misleading and that any further information requested by HLBIT Exchange is complete, accurate, current and not misleading in all material respects; and

  1. The User has not relied upon any representation or warranty given by any person (including without limitation HLBIT Exchange) in entering into the Order.

  1. The User acknowledges that Fiat Currency standing to his credit may be co-mingled with those of other Users of HLBIT Exchange in HLBIT Exchange’s Client Account. Funds belonging to Users are segregated from those belonging to HLBIT Exchange, and shall be credited to each User’s Account.

  1. Without limiting the generality of Clause 10.5, the User agrees and acknowledges that he shall have no rights or claims against HLBIT Exchange in respect of any of his/her funds held in such account or accounts.

  1. The User acknowledges that HLBIT Exchange is under no obligation to pay interest on any funds held on his behalf in any account.

  1. Termination

  1. HLBIT Exchange has the right to terminate a User’s Account, and/or close out, cancel or reverse an Order without notice to the User and without liability to the User whatsoever if:

  1. The User fails to make any payment in respect of an Order, when due and in accordance with these Terms and Conditions;

  1. The User materially breaches any of these Terms and Conditions or fails to comply with its obligations to HLBIT Exchange or is in breach of any statute, regulation, rule or guideline applicable to it or HLBIT Exchange;

  1. It becomes or may (in the reasonable opinion of HLBIT Exchange) become unlawful for HLBIT Exchange to maintain or give effect to all or any of its obligations under the these Terms and Conditions or if HLBIT Exchange is requested to close out an Order (or any part thereof) by any regulatory authority whether or not the request is legally binding or HLBIT Exchange in its sole and absolute discretion considers it desirable or necessary to do so;

  1. The User becomes unable to meet its obligations as they become due or has a bankruptcy petition presented against it or the User proposes a form of composition or arrangement to its creditors or if the User ceases or threatens to cease all or part of its business; or

  1. Any of the events specified above or anything comparable thereto occurs under the laws of any applicable jurisdiction.

  1. If the User becomes aware of the occurrence of any event referred to in Clause 12.1(a) to (e) above, he shall give HLBIT Exchange notice of such event forthwith.

  1. User’s Conduct

  1. By downloading and/or using the Platform, the User agrees not to upload, post, e-mail or otherwise send or transmit any material that contains viruses, Trojan horses, worms or any other computer code, les or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment associated with the Platform.

  1. The User agrees and undertakes to keep his username and password confidential, not to disclose his password to any other person and not to permit any other person to log in to the Platform using his username and password.

  1. The User acknowledges and agrees that he, and not HLBIT Exchange, is solely liable for any damage arising out of inadequate management, negligence in use, or use by a third party of his username and/or password. If a User finds that his username or password has been stolen or is being used by a third party, then the User must immediately notify HLBIT Exchange to that effect and follow HLBIT Exchange’s instructions.

  1. The User agrees not to interfere with the servers or networks connected to the Platform or to violate any of the procedures, policies or regulations of networks connected to the Platform, including these Terms and Conditions.

  1. The User agrees not to:

  1. Attempt to reverse engineer or sell, export, license, modify, copy, distribute or transmit the Platform to any third party, or jeopardise the correct functioning of the Platform, or otherwise attempt to derive the source code of the software (including the tools, methods, processes and infrastructure) that enables or underlies the Platform;

  1. Attempt to gain access to secured portions of the Platform to which he does not possess access rights;

  1. Impersonate any other person while using the Platform;

  1. Conduct himself in a vulgar, offensive, harassing or objectionable manner while using the Platform;

  1. Resell or export the software associated with the Platform;

  1. Use the Platform to generate unsolicited advertisements or spam;

  1. Use any automatic or manual process to search or harvest information from the Platform, or to interfere in any way with the proper functioning of the Platform;

  1. Conduct any act that infringes an intellectual property right, image right, privacy right, reputation, or any other right or interest of HLBIT Exchange, any User of the HLBIT Exchange and/or User of the Platform, or any other third party (including an act that directly or indirectly causes one of these infringements);

  1. Conduct any act related to or similar to money laundering, an act related to a crime, or an act infringing public order;

  1. Commit any act of depositing Fiat Currency/Cryptocurrency for a purpose other than the purpose of trading using the Services;

  1. Commit any act that breaches a law or ordinance or an internal regulation of HLBIT Exchange; or

  1. Do any act other than those above that HLBIT Exchange in its sole and absolute discretion deems to be inappropriate.

  1. If HLBIT Exchange, in its sole and absolute discretion, deems that a User falls under, or might fall under, any of the categories as set out in clause 13.5 (a) to (l), then HLBIT Exchange may, at its discretion and without giving prior notice to the User, take countermeasures such as deleting all or part of information sent by the User and deleting or suspending the User’s Account. HLBIT Exchange shall not be liable for any damage incurred by the User as a result of such countermeasures taken by HLBIT Exchange.

  1. HLBIT Exchange may, at its discretion and without prior notice to the User, take all measures to cancel the User’s transaction in the event HLBIT Exchange is of the view that the User conducted or may have conducted an act falling within to Clause 13.5, and HLBIT Exchange may make a claim against the User for profit obtained through the transaction and for damage incurred by HLBIT Exchange due to the offending transaction.

  1. Our Rights

  1. In providing the User with access to the Platform, and permitting the User to make Orders via the Platform, HLBIT Exchange reserves the following rights, and in accessing, browsing or otherwise using the Platform and/or making any Order via the Platform, the User grants to HLBIT Exchange and agrees that HLBIT Exchange shall have the following rights:

  1. The right to refuse or withdraw the User’s access to the Platform in accordance with applicable laws for any reason at any time (with or without notice) if in HLBIT Exchange ‘s sole and absolute discretion the User has violated or breached any of these Terms and Conditions;

  1. The right to suspend, amend or disable the User’s Account without giving notice or any reason;

  1. The right to cancel any Order or amend in part any Order without giving notice or any reason, save that in such circumstances HLBIT Exchange shall refund such part of the Order as has been cancelled by it;

  1. The right to amend or update the Platform, Fees, Commission, any Order, billing methods or these Terms and Conditions from time to time; and

  1. The right to report the User to the law enforcement authorities, the police or any other governmental or judicial body if HLBIT Exchange believes in its sole and absolute discretion that the User’s conduct (whether in using the Platform, making an Order for any Goods or otherwise) is or may be unlawful.

  1. Intellectual Property

  1. HLBIT Exchange and/or its licensor(s) are the sole owners of the Platform, which includes any software, domains, and content made available through the Platform.

  1. The HLBIT Exchange brand and the Platform are protected by Singapore and elsewhere. The User agrees that it shall not sell, export, license, modify, copy, distribute or transmit the Platform (or any part of it) or any material provided through the Platform without HLBIT Exchange’s prior express written consent.

  1. Any unauthorised use of the Platform may result in the automatic termination of the User’s Account and the limited license granted by HLBIT Exchange.

  1. HLBIT Exchange and its graphics, logos, icons and service names related to the Platform are registered and unregistered trademarks, trade names or trade dress of HLBIT Exchange. They may not be used without HLBIT Exchange’s prior express written permission.

  1. All other trademarks not owned by HLBIT Exchange that appear in connection with the Platform are the property of their respective owners, who may or may not be affiliated with, connected to or sponsored by HLBIT Exchange.

  1. Security

  1. Whilst we have implemented commercially reasonable technical and organisational measures to secure your personal information from unauthorised use, we cannot guarantee that unauthorised third parties will never be able to defeat those measures. The User acknowledges that he provides personal information at his own risk.

  1. The User is solely responsible for implementing all reasonable and appropriate measures for securing the wallet, vault or other storage mechanism the User uses to receive and hold any Cryptocurrency and/or HLB token purchased through or from HLBIT Exchange, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If the User’s private key(s) or other access credentials are lost, the User may lose access to his Cryptocurrency and/or HLB token. HLBIT Exchange shall not be responsible for any security measures relating to the User’s receipt, possession, storage, transfer or potential future use of any Cryptocurrency and/or HLB token, nor is HLBIT Exchange under any obligation to recover any Cryptocurrency and/or HLB token. HLBIT Exchange hereby excludes (to the fullest extent permitted under applicable law) any and all liability for any security breaches or other acts or omissions which result in the User’s loss of (including loss of access to) Cryptocurrency and/or HLB token.

  1. Electronic Communications

  1. By downloading and/or using the Platform and/or viewing Listings and/or making any Order for Goods through the Platform, the User consents to receiving electronic communications and notices from HLBIT Exchange. The User agrees that any notice, agreement, disclosure or other communications that we send to you electronically will satisfy any legal communication requirements, including that such communications be in writing.

  1. No Warranty and Liability Limit

  1. HLBIT Exchange provides the Platform “as is” and without any warranty or condition, whether express, implied or statutory.

  1. HLBIT Exchange assumes no liability or responsibility for any errors or omissions in the Platform; any failures, delays or interruptions in the Platform or in delivery of any Order; or any losses or damages arising from the use of the Platform.

  1. HLBIT Exchange reserves the right to deliver the Platform and to process Orders in its sole and absolute discretion.

  1. In no event shall HLBIT Exchange, its shareholders, directors, officers, employees or agents be liable (jointly or severally) to the User for loss of use or any special, incidental, indirect or consequential damages arising out of or in connection with the Platform, the publication of any Listing, the placement by the User of any Order, the delivery of any Goods, the failure in whole or in part to deliver any Goods or these Terms and Conditions, on any theory of liability, and whether or not advised of the possibility of damage.

  1. HLBIT Exchange does not seek to exclude liability for death or personal injury caused by our negligence, or fraud or fraudulent misrepresentation on the part of HLBIT Exchange.

  1. If any applicable authority holds any portion of this section to be unenforceable, then liability will be limited to the fullest possible extent permitted by applicable law.

  1. HLBIT Exchange specifically excludes liability for any loss, harm, distress or damage suffered by you or any third party as a result of inaccurate information appearing on the Platform.

  1. Indemnity

  1. The User agrees to indemnify and hold HLBIT Exchange and its related companies, and each of their respective shareholders, directors, officers, employees, agents and merchant partners harmless from and against any third-party claim or cause of action, including reasonable attorneys’ fees and court costs, arising, directly or indirectly, out of the User’s breach of these Terms and Conditions and/or the User’s violation of any law or the rights of any third party.

  1. The User agrees that HLBIT Exchange does not guarantee and is not liable (including defect liability) with respect to trading in Cryptocurrencies, or the value, function, place of use, or intended use of Cryptocurrency.  Even if a User has, from HLBIT Exchange, directly or indirectly obtained information related to the Service or to another User, HLBIT Exchange will not provide a guarantee to the User that goes beyond the extent set out in these Terms and Conditions.

  1. The User agrees that HLBIT Exchange conducts Services that provide a Platform for trading in Cryptocurrencies and is not obligated to conclude Orders made by the Users. If an Order is not concluded or an event occurs that obstructs the formation or validity of an agreement, such as nullification, cancellation, or rescindment of a formed purchase agreement, HLBIT Exchange shall not be liable to the User to compensate for any damage or loss incurred.

  1. The User agrees that HLBIT Exchange does not guarantee the value, stability, or legality of Cryptocurrency. HLBIT Exchange is not liable for any damage that may arise due to (i) a future establishment or revision of a law, ordinance, statute, rule, order, circular notice, municipal ordinance, guideline, or any other regulation that applies to Cryptocurrency; (ii) discontinuance, suspension, termination, unavailability, or alteration of the Service; (iii) deletion or loss of a User’s message or information; (iv) cancellation of a User’s registration; (v) data loss or failure of or damage to equipment due to using the Service; or (vi) any other damage incurred by a User related to the Service.

  1. Governing Law and Jurisdiction

  1. You agree that these Terms and Conditions and any claim, dispute or controversy arising out of in connection with these Terms and Conditions or their subject matter or formation (including non-contractual disputes or claims), the Platform, HLBIT Exchange‘s advertising or any related transaction between you and HLBIT Exchange shall be governed by and construed in accordance with the laws of Singapore.

  1. Any dispute or claim arising out of or in connection with such matters (including non-contractual disputes or claims) will be subject to the exclusive jurisdiction of the courts of Singapore.

  1. General

  1. If any term, clause or provision of these Terms is held to be invalid, unlawful, void or unenforceable to any extent, such term shall, to that extent only, be severed from the remaining Terms, which shall continue to be valid to the fullest extent permitted by law.

  1. Headings are for reference purposes only and in no way define, limit, construe or describe the extent or scope of such section.

  1. HLBIT Exchange’s failure to enforce any provision of these Terms and Conditions shall not constitute a waiver of that or any other provision and will not relieve the User from the obligation to comply with such provision.

  1. The User is not permitted to assign, transfer, charge, sub-contract or deal in any other manner with all or any of his rights under these Terms and Conditions without HLBIT Exchange’s prior express written consent.

  1. These Terms and Conditions set forth the entire understanding and agreement between you and HLBIT Exchange with respect to the subject matter hereof.

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