1. Parties to the agreement.
The Agreement is concluded between the online service for the exchange of digital currency, mrexchanger referred to as the Contractor – for one part, and the Customer, represented by a person who used the services of the Contractor, – for the other part.
2. List of terms.
2.1. Digital Currency Exchange – automated product of the online service, which is provided by the Contractor under these rules.
2.2. Customer – a natural person, agreeing to the terms of the Contractor and this agreement that it enters into.
2.3. Digital currency – a standard unit of a particular payment system, which corresponds to the calculations of electronic systems and indicates the scope of rights corresponding to a specific agreement on electronic payment system and its Customer.
3. Terms and conditions of the agreement.
These rules are considered to be subject to the conditions of the public offer, which enters into force at the time of submission of an application by the Customer and is one of the main components of this agreement. The information about the conditions of application submission specified by the Contractor, is a Public offer. The main part of a public offer are actions made in the completion of the application submission by the Customer showing his exact intentions to make a transaction on the terms proposed by the Contractor before the end of this application. Time, date, and parameters of the application are created automatically by the Contractor by the end of application submission. The proposal should be accepted by the Customer within 24 hours before the end of formation of the application. Service agreement comes into force from the moment of receipt of digital currency in the full amount specified in the application, from the Customer according to the details set forth by the Contractor. Transactions with digital currency are accounted according to the rules, regulations and format of electronic payment systems/ The agreement is valid for a period which is set from the date of submitting the application and continued until terminated by either party.
4. Matter of the agreement.
Using technical methods, the Contractor undertakes to perform digital currency exchange for a commission from the Customer, after the submitting the application by this person, and makes it through the sale of digital currency to persons wishing to purchase it for the money amount which is not lower than that in the application submitted by the Customer. The Contractor undertakes to transfer money according to the details specified by the Customer. In case when a profit occurs at the time of exchange, it remains on the account of the Contractor, as an additional benefit and a premium for commission services.
5. Additional provisions.
5.1. If the Contractor receives an amount on its account that differs from that indicated in the application, the Contractor makes a resettlement, which corresponds to the actual receipt of digital currency. Should this amount exceed the amount specified in the application for more than 10%, the Contractor terminates the contract unilaterally and all funds are returned to the Customer’s details, taking into account the amount deducted for commission expenses during the transfer.
5.2. Should the digital currency not be sent by the Contractor to the specified details of the Customer within 24 hours, the Customer has the full right to demand the termination of the agreement and cancel the application, thereby making the return of digital currency on its account in full. Application for termination of the agreement and return of digital currency is performed by the Contractor in the event that the money has not yet been transferred according to the details of the Customer. In case of terminating the agreement, the return of e-currencies is made within 24 hours of receipt of the application for termination of the agreement. If a delay in the return occurred through no fault of the Contractor, it will not take responsibility for it.
5.3. If no digital currency arrives from the Customer to the Contractor within the specified period from the date of submitting the application by the Customer, the agreement between the parties shall be terminated by the Contractor unilaterally, since the agreement does not enter into force. There may be no notice about it sent to the Customer. Shall no digital currency arrive to the details of the Contractor after the deadline, then such funds are transferred back to the account of the Customer, and all commission expenses associated with the transfer are deducted from that amount.
5.4. If there is a delay in the transfer of funds to the account details specified by the Customer, through a fault of a payment system, the Contractor shall not be liable for any damage caused as a result of a delayed transfer. In this case, the Customer shall agree that all claims would be referred to the payment system, and the Contractor shall provide assistance as far as possible under the law.
5.5. In case of forgery of communication flows, or due to influence in order to degrade the performance of the Contractor, namely its software code, the application is suspended, and the money transferred are subject to resettlement in accordance with the agreement in effect. Shall the Customer not agree to the resettlement, he has every right to terminate the agreement and the digital currency shall be transferred to the account details specified by the Customer.
5.6. In the case of using the services of the Contractor, the Customer fully agrees that the Contractor shall bear a limited liability corresponding to these rules for obtaining digital currency and give no additional guarantees to the Customer and shall have no additional liability before the Customer. Accordingly, the Customer shall not bear an additional liability to the Contractor.
5.7. The Customer agrees to comply with applicable laws and not to tamper any communication flows as well as create any obstacles to the normal operation of the program code of the Contractor.
5.8. The Contractor shall not be liable for any damage or consequences of an erroneous transfer of e-currency in the event that Customer have specified wrong details during application submission.
6. Warranty period
Within 24 hours of the execution of the digital currency exchange, the Contractor warrants for services provided, unless otherwise noted.
In the case where unforeseen circumstances that contribute to non-compliance with terms of the agreement by the Contractor during the processing of the Customer’s application, the timing of application accomplishment are delayed for the corresponding period of the duration of the force majeure. The Contractor is not responsible for overdue obligations.
8. Form of agreement.
Both parties, represented by the Contractor and the Customer, shall take this agreement as an agreement equivalent to the validity of the contract designated in writing.
9. Customers from England, Germany and the United States.
For Paypal account holders from England, Germany and the United States, the arrangements for the transfer of digital currency are extended for an indefinite period, corresponding to the period required for full verification of account owner’s data. For the whole period the money is not subject to any transactions and are retained in full in the account of the Contractor.
10 Claims and disputes.
Claims under this agreement are received by the Contractor in the form of e-mail where the Customer specifies the essence of the claim. This mail is sent to the details specified on site of the Contractor.
11. Exchange transactions performance.
11.1. It is expressly prohibited to use the services of the Contractor to carry out illegal transfers and fraud. At the conclusion of this agreement, the Customer agrees to comply with these requirements and to be criminally liable in the case of fraud under the laws in force.
11.2. In case of inability to fulfill orders automatically, through no fault of the Contractor, such as lack of communication, lack of funds, or erroneous data of the Customer, the money is transferred to the account within the next 24 hours or returned to the account details of the Customer, net commission expense.
11.3. On demand the Contractor is entitled to release information on the transfer of electronic currency to law enforcement bodies, administration of payment systems, as well as to victims of misconduct, victims of proven judicial fraud.
11.4. The Customer agrees to submit all the documents proving his identity, in case of suspicion of fraud and money laundering.
11.5. The Customer agrees not to interfere with the work of the Contractor and not to cause damage to its hardware and software, as well as the Customer undertakes to provide accurate information to ensure compliance with all terms of the agreement by the Contractor.
12. Liability disclaimer.
The Contractor shall have the right to refuse to sign the agreement and accomplish the application without explanation. This paragraph shall apply with respect to any client.
MONEY LAUNDERING AND TERRORISM FINANCING PREVENTION
1. Proactive. As a company providing cross-border financial services, Mrexchanger.com undertakes to keep its accounts protected from flows of illicit money. We rely on national and international practice in order to effectively identify, assess and analyze any money laundering and terrorist financing risks to which we may be exposed.
So, for payments for crypto assets that are identified by our risk monitoring as suspicious, the AML / KYC check can be applied. In these cases, the Site service will contact the User by e-mail registered in the account.
2. Customer due diligence (AML/KYC check). We use set criteria and internal procedures to check our client's profiles. Customer due diligence measures are applied before establishing a business relationship with the client and afterwards, especially when there is a reasonable suspicion of money laundering or terrorist financing. We identify and verify the identities of both the customer and the beneficial owner as well as obtain and assess information regarding their intentions and activity.
Verification procedure includes confirming the identity of Users by means of:
- loading high-quality photo of their ID (passport or driving license) valid in their country;
- verification identity by video.
In certain cases, are requiring Proof of the origin of funds or any other applicable documentation.
Upon successful completion of the AML/KYC procedure, the transaction will be executed.
In case the User refuses to undergo the AML/KYC procedure, the transaction will be rejected, and the crypto assets will be returned to where it originated after 14 days from less any applicable fees. Thereafter, Website service will freeze the User account and blacklist the wallet address (exceptions may apply to an address of a trusted service). This User account will no longer be eligible to use Website service.
3. Risk-dependent customer due diligence. When a client is considered high-risk (e.g. politically exposed persons (PEPs) in senior positions, their relatives and close associates) we will conduct enhanced customer due diligence. Likewise, if a client is considered low-risk, we will conduct simplified customer due diligence.
5. Storing personal data. By using Mrexchanger.com services you agree for us to store your personal data for the purpose of the prevention of money laundering and terrorist financing for 10 years from the date of termination of a transaction or a business relationship. This includes documents confirming monetary operation or transaction and data or other legally binding documents and data related to the execution of monetary operations or conclusions of transactions. You also agree for us to store business correspondence with you for 5 years from the date of termination of transactions or business relationships with you for the same purpose. These time limits may be additionally extended for up to 2 years upon a reasoned instruction of a competent authority.
6. Reporting. Depending on the facts of each case, for example, if we know or suspect that property of any value is, directly or indirectly, derived from a criminal act or from involvement in such an act, or if we know or suspect that such property is used to support one or several terrorists or a terrorist organization, we may report to the Financial Crime Investigation Service (FCIS) under the Ministry of the Interior of the United States of America.
7. Client's obligation. If the client, where required, 1) fails to submit data confirming his or her identity, 2) if the client submits insufficient data or data that are incorrect, 3) if the client or his or her representative avoids submitting information required for establishing client's identity, 4) if the client conceals the identity of the beneficial owner or avoids submitting information required for establishing the identity of the beneficial owner or the submitted data are insufficient for that purpose, or 6) if we cannot ensure that all the legitimate requirements are fulfilled, we reserve the right not to establish or continue business relationships and carry out transactions. We may also, upon assessment of the threat posed by money laundering and/or terrorist financing, decide on the appropriateness of forwarding a report to the FCIS. If we terminate a business relationship with a client because of a money laundering and/or terrorist financing threat, we will not responsible for non-fulfilment of contractual obligations and for the damage caused by non-execution of the client's monetary operations or transactions.
8. By using Mrexchanger.com services you therefore confirm that 1) you have read, understood and agree with our Money Laundering and Terrorism Financing Prevention Policy, 2) all the data you provide us with before the commencement of our business relationship and afterwards are and will be correct, and 3) you understand and agree with what data we use and how we store and process this data for the purpose of money laundering and terrorist financing prevention.