ABF Swap

Terms And Conditions

Platform
These Terms and Conditions constitute part of the legal relationship between the Platform User and the Company. By accessing or using Services or Platform, or by creating an account, you agree to these Terms and Conditions.
The Terms and Conditions do not constitute the only part of the legal relationship between the User and the Company. In order to create an account and gain full access to the Platform, it is necessary to conclude an Agreement between ABF Trade Connect, ABF Swap and the User. In case of contradictions or doubts the Agreement as a special regulation shall prevail.
A necessary condition for concluding an Agreement and using the Platform is also reading and accepting the Privacy Policy and other applicable policies.
Definitions
ABF Trade Connect	shall mean the company incorporated under the laws of South Africa with registered address as NORWICH PLACE WEST 2ND FLOOR ,CNR 5TH AND NORWICH,SANDOWN SANDTON GAUTENG, 2031, South Africa, hereinafter referred to as “we”, “us”, “our”, “ABF SWAP” and “Company”
Abfswap.com	is a trade name of ABF Swap s.r.o.
Agreement	shall mean this Terms of Conditions and any other agreement concluded between Company and the User regarding provision of Services and amendments to it.
Cryptocurrency	shall mean any digital currency or other digital asset that is available in connection with Services (including but not limited to): Bitcoin, Ethereum, USDT, EURT, DAI, PAXG or other virtual currency, cryptographic token agreed between the User and the Company.
Electronic Money	shall mean money transferred to and/or from the vWallet for execution of the Payment Transactions.
Fiat Currency	shall mean government-issued currency that isn't backed by a commodity, including U.S. Dollars, British Pound, and Euro, and that is available in connection with the Services.
Full access to the Platform	shall mean registering on the Platform, concluding the Agreement and gaining access to the internal vWallet.
Operation	shall mean any action performed within the vWallet by the User, in particular transaction resulting in change of the balance of the User’s vWallet.
Partners	third party providers, being commercial law companies, ensuring the provision of certain Services on the Platform for the User.
Payment Transactions	shall mean transfer or withdrawal of funds to or from the vWallet.
User	shall mean an individual or legal entity acting through an authorized individual who is bound by these Terms and Conditions.
Services	shall mean any and all of the services provided to the User within the Platform, including execution of Payment Transactions, buy, sell and exchange of Cryptocurrency, creating and maintaining internal vWallet, and any other operations as may be required for the internal vWallet to function correctly.
System	shall mean a software solution in the Internet network at Company, used to provide the Services of the Company.
vWallet	shall mean a virtual wallet for Cryptocurrency that allows User to deposit, store and exchange Cryptocurrencies, provided with Platform infrastructure (internal vWallet) or by third provider (external vWallet). The access to the internal vWallet is possible only with encrypted private keys provided to the User. No one can access a wallet without knowing the User’s private keys.
Services
By gaining full access to the Platform, the Platform shall provide the User with access to Services on the terms and under the conditions indicated in this document.
Services may be provided in cooperation with our Partners. User’s use of these Services may additionally be subject to the terms of Partners, which the User must accept before using the Services. The User shall each time be duly informed about the details of the third-party provider.
The following Services are available for Users: Exchange of Fiat Currency to Cryptocurrency (the User may buy Cryptocurrency with the Fiat Currency which is wire transferred (from User’s account). In this case, the Fiat Currency transferred from the User's account and intended for the purchase of Cryptocurrency is converted into EURT). Exchange of Cryptocurrency to Fiat Currency (the User may sell Cryptocurrency held in internal vWallet for Fiat Currency which is wire transferred in accordance with User’s instructions). Exchange of Cryptocurrency (performed based on a current Cryptocurrency and fiat exchange rates shown in User’s panel. Additional fees may apply. Information on the current exchange rates and applicable fees shall be available for the User within the Platform’s functionality). Deposit, storage and withdrawal of Cryptocurrency (The User can deposit Cryptocurrency into internal vWallet from a User’s external address and may transfer Cryptocurrency from internal vWallet to User’s external address). Cryptocurrency transfer between vWallets. Other digital services, as agreed by the User and the Platform.
The Company may freely determine which Cryptocurrency and in which digital form may be deposited in internal vWallet. Before listing a Cryptocurrency ABF Trade Connect performs a thorough due diligence of the Cryptocurrency. The Company may use the services of Partners for this purpose.
The Company does not guarantee the value of the Cryptocurrency at any given time. Information about Cryptocurrencies supported will be visible in the internal vWallet. Under no circumstances should the User attempt to use internal vWallet to store, send, request, or receive cryptocurrency that the Platform does not support. All such erroneously transmitted cryptocurrency may be lost.
The User is entitled to withdraw Cryptocurrencies to an external vWallet. Cryptocurrency available for withdrawal will be visible upon initiation of such withdrawal. Before ordering such withdrawal, the User is obliged to verify the range of cryptocurrencies supported by the external vWallet provider.
The Company will record User’s Cryptocurrencies in its books as separate and apart from anyone else’s Cryptocurrency and from Company’s own property/funds.
Company’s records will at all times provide for the separate identification of the assets owned by each User. The Company is not authorized to use Cryptocurrency collected in internal vWallet in any way; in particular, the Company will not loan, hypothecate, pledge, or otherwise encumber any User’s assets held in internal vWallet.
User, as the owner of Cryptocurrencies in vWallet, shall bear all risk of loss of such assets, in particular risk of value fluctuations.
The Company does not grant a security interest in the Cryptocurrency held in internal vWallet.
Access
The Company may prohibit condition or limit full access to the Platform if the User does not meet requirements specified in the Terms and Conditions, AML Policy, Agreement or violates the provisions of applicable law.
Only natural persons or legal entities with full legal capacity may gain full access to the Platform. Legal entities must be represented by an authorized legal representative in accordance with relevant registry.
Access to the Platform is only possible electronically, using an updated web browser.
To gain Full access to the Platform, the User is required: To complete the verification procedures as specified in this section, To register with the Platform by following the instructions available on the Platform, including creation of a password to log in to the Platform, To confirm User’s email address and registration. With the confirmation of the registration, the User accepts the Agreement with the Platform, subject to these Terms and Conditions.
During the verification and registration, the User shall provide all requested information to the Company. Such information shall be fair, full and up-to-date. The User’s information operated in Company’s System is protected. For further privacy protection policy information please look at the Privacy Notice of the Company available at: *www.abfswap.com*, which is integral part of these Terms and Conditions.
In accordance with mandatory know-your-customer (KYC) procedures and other anti-money laundering (AML) procedures as well as other procedures specified in applicable laws, the User must identify himself/herself/itself. For that purpose, the Company may demand and the User must provide documents that allow identification of the Customer. The Company may also use the services of third parties to identify the User. Particular data and/or documents to be provided will be specified by the Company in the notice on the need for identification procedure. The Company may demand that copies of documents provided be duly certified, including translated into the language specified by the Company. The Company may conduct a live interview with the User or require providing a current photo of a User for verification purposes. The User shall bear all expenses on preparation of the requested documents. If the Customer fails to provide the requested information and/or documents within the time period established by the Company, the Company may suspend provision of all or any part of the Services to the User.
In the event the Company has doubts about truthfulness of information provided by the User or detects any suspicious/illegal actions regarding User’s use of Services, the Company reserves the right to block and/or reverse any Operations or Payment transactions performed, block internal vWallet, deny the User any Service as well as suspend or close User’s vWallet. Company’s decision to take certain actions, including limiting access to, suspending, or closing your internal vWallet may be based on confidential criteria that are essential for the purposes of our risk management and security protocols.
The User may not use the internal vWallet together with any other persons or grant other persons access to or control over their internal vWallet. The Company never asks the User to reveal its private keys or passwords. Requests for sharing such information are indicators for attempted fraud.
Fees
The amounts of all commissions, fees, charges and expenses are shown in the current Price Schedule provided within the Platform and/or in internal vWallet.
Changes to the prices, fees and Service specifications require User’s consent which can be granted via the Platform and/or internal vWallet.
Limitations
The Platform reserves the right to limit the amount of Cryptocurrencies subject to ordered Operation. The limit will be communicated to the User before the acceptance of the Operation.
The Platform reserves the right to refuse or delay order for Operation, in particular but not limited to the following circumstances: The User did not provide the required information; Verification of the source of deposit/transfer or destination for withdrawal/transfer was unsuccessful; Operations ordered seem suspicious in accordance with applicable provisions of this Terms and Conditions or the Agreement; The User does not have enough funds; The market does not offer enough Cryptocurrency; Technical reasons beyond Platform’s control; The Operation exceeds Platform’s limit of Cryptocurrencies User may buy or sell.
The Company shall not be liable for any losses resulting from lack of performance of an Operation/Payment Transaction.
The User’s Payment Transactions made via the internal vWallet cannot be reversed or cancelled except for cases directly provided for under these Terms and Conditions.
Cryptocurrency Risks
By using the services connected to cryptocurrencies, the User acknowledges and accepts certain risks, including the following.
Cryptocurrencies are electronic forms of money which are generated via a decentralized peer-to-peer network on the internet and encrypted based on digital signatures. In many countries cryptocurrencies are not legal tender recognized and backed as an official means of payment by any government agency. Ownership of cryptocurrencies does not establish or prove any claim against any issuer. Cryptocurrencies are not backed by state-owned central banks or private issuers. Cryptocurrencies are not guaranteed to be accepted as a mean of payment.
Legal or regulatory status of cryptocurrencies and/or providers of related services may change at any time.
Digital assets, due to its digital intangible character may at any time be hacked or affected by technical errors or software developments.
Value of crypto assets is subject to fluctuations which are beyond our or institutional control, the value can rapidly increase or decrease at any time, including losing a 100% of its value. The current value of a cryptocurrency is determined by the respective number of the cryptocurrency on offer and in demand on the market.
Each of the above-mentioned risk is equally likely to occur/materialize at any time; it may happen that multiple circumstances will occur together at the same time. Any such occurrence may directly or indirectly result in: cryptocurrencies losing its value; losing some or all of cryptocurrencies; cause a delay in performing Operations; lack of ability to buy or sell the cryptocurrencies at a given time; our and/or our providers inability to support Cryptocurrencies.
Platform offers only technical services that is an infrastructure to open virtual wallet.
Use of Operations or Services may be subject to tax liability. The User is solely liable for assessing its tax liability, providing tax reports or tax payments. Tax liability may vary depending on territorial tax regulations.
Blockchain networks are based on confirmation of a transaction record (entry into a distributed ledger) by other participants of the distributed network. Due to this, the System requires some time to record your rights to cryptographic tokens and/or other digital assets, so the User may see the result not immediately. Operations related to virtual currencies, cryptographic tokens and/or other digital assets cannot be voluntarily cancelled; financial losses caused by errors, accidental transactions or fraudulent actions cannot be refunded. Any transaction performed may remain unconfirmed by blockchain participants or cancelled. Company cannot influence blockchain networks in any manner and shall not be liable for operation of any blockchain network, for its vulnerability or unforeseen modifications, for possible attacks on protocols.
Cryptocurrencies may be subject to a fork, that is a sudden change in how a crypto asset works, that is in particular change in name, value or function. The occurrence of a fork is beyond the Company’s control, however the Company shall take any necessary actions to implement fork in the best interest of the User. The Company may determine the method of implementing the fork independently or in consultation with other crypto asset entities.
System
Technical failures are possible in the course of use of Services offered by Platform. Poor internet connection, equipment failures, sudden changes in operating rules of underlying protocols of the system, information distortions may be due to human mistakes or inadequacy of the equipment and processes. We do not provide any guarantee that the equipment you use will enable secure, flawless, smooth and reliable receipt of the Company Services. User agrees that the Company shall not be liable for any failures of connection, information delays, errors, distortions that may occur in your equipment when using the Company Services.
Electronic Money may be impacted with security or network incidents like any other piece of software. If such an event occurs, the Company will take appropriate actions in order to restore Services.
The Company does not guarantee uninterrupted access to the Company Services and software due to the fact that operation of the Company’s Services and software may be affected by many factors beyond the Company’s reasonable control. For that reason, the Company shall not be liable for any consequences resulting from interruptions of the Service.
The Company gives no guaranties in respect of work of credit institutions (banks), payment systems, Partners and other third parties involved in transactions.
Company software is provided to the User under a personal, non-exclusive, free, non-transferable, non-sub licensable, revocable license for the purpose of access to and use of the internal vWallet.
Liability
The Company shall give no guaranties in respect of cryptocurrencies used by the User, such as guarantees of ownership, financial attractiveness, stability, etc.
The User is fully responsible for all activity that occurs in the internal vWallet. The Company does not give any financial, tax, accounting, investment or legal advice or recommendations in respect of cryptocurrency transactions. The User, based on his/her own knowledge and professional experience shall independently assess any possible consequences of his/her actions for his/her well-being based on personal goals, beliefs, knowledge and abilities. For that reason, all risks of transactions with cryptocurrencies, including the risk of financial loss, errors in the course of transactions, shall rest with the User to the extent permitted by law.
The User acknowledges that the Company does not provide any investment advice or investment brokerage. Any information given as legally non-binding and general information. If the Company provides the User with information regarding cryptocurrency, such information does not constitute any form of investment advice but is only intended to provide general crypto knowledge.
The Company will hold the User liable for actions constituting significant breach of or failure to comply with these Terms and Conditions and the Agreement resulting in losses, including loss of profit, on Company’s part and other reasonable costs that arise accordingly.
The Company will only be liable for Users loses if they were caused due to fault attributable to the Company or the cause that was under Company’s full control but the Company failed to take action to prevent such cause to take place. To the fullest extent permitted by applicable law, in no event will the Company be liable, whether based on warranty, contracts, tort, negligence, strict liability or any other legal theory to User in connection with these Terms and Conditions or User’s access to or use of the internal vWallet or Services for any direct, indirect, consequential, special, punitive, exemplary or reliance damages arising out of or in connections with these Terms and Conditions, or any damages resulting from any interruption or disruption in communications or services, unavailability or inoperability of Services, technical malfunction, lost data, or lost profits, even if the Company knew or should have known of the possibility of or could have reasonably prevented such damages, and regardless of the form or theory of the claim or action.
Where Services are provided on the basis of a direct contractual relationship between the User and a Partner / third provider, the Company shall not be liable towards the User for actions and omissions of such Partner, even if the payment for the Partner’s service charged by the Company. Any claims regarding these Services shall be brought against the relevant Partner / third provider only, in accordance with the relevant contract. USER AGREES TO INDEMNIFY AND HOLD COMPANY AND ITS EMPLOYEES HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH USER’S USE OF COMPANY’S TECHNOLOGY PLATFORM, INCLUDING, BUT NOT LIMITED TO THOSE ARISING FROM USER’S PERSONAL ERROR AND MISBEHAVIOR SUCH AS FORGOTTEN PASSWORDS, INCORRECTLY CONSTRUCTED TRANSACTIONS, LOSS OF USER’S ACCESSES ETC.
Changes
The Company shall preserve the right to modify the Terms and Conditions hereof at its own discretion at any time. The Company shall send to the User the information on the changes or new terms on internal vWallet or by communicating User directly via means of distance communication.
If after the modifications are made, the User performs any actions clearly and directly signifying its consent to the new terms (by clicking the consent button or ticking the box next to the modified terms, or continuing to access or use the Company Services), these actions shall express your consent to the Terms and Conditions and confirm your readiness to use the Service’s potential and functionality on the new terms.
Communication
All communication between the Platform and the User shall take place electronically via the Platform or to the e-mail address provided by the User; if User’s phone number has been provided, communication may also be made by phone to the telephone number provided by the User.
Applicable Law
Any agreements concluded by the Company with the User shall be governed by the law of the South Africa. Any disputes between the Company and the User shall be settled by the court having jurisdiction over the Company’s registered office.
Agreement
The User and the Company enter into the agreement on the following terms: The User has carefully read and fully understood the Terms and Conditions of the Company and agrees to comply with them; By visiting the Company website and continuing the use of the Company Services, the User confirms that is a person/authorized representative of lawful age, capable, not disqualified and can be independently liable for your decisions and actions; By receiving full access to the Platform, the User agrees to comply with these Terms and Conditions and all provisions published at Company, including the Terms and Conditions Privacy Notice. If the User refuses to accept the Terms and Conditions, the User should immediately stop using the Company services and all functions provided at Company.