Terms & Conditions

This Agreement was last modified on March 11th, 2016.

Please read these Terms & Conditions ('Agreement', 'Terms and Conditions') carefully before using https://www.satoshitango.com ('the Site') operated by Finantech Limited ('us', 'we', or 'our'). This Agreement sets forth the legally binding terms and conditions for your use of the Site at https://www.satoshitango.com.

By accessing or using the Site in any manner, including, but not limited to, visiting or browsing the Site or contributing content or other materials to the Site, you agree to be bound by these Terms & Conditions. Capitalized terms are defined in this Agreement.

General

Intellectual Property

The Site and its original content, features and functionality are owned by Finantech Limited and are protected by international copyright, trademark, patent, trade secret and other intellectual property or proprietary rights laws.

Links To Other Sites

Our Site may contain links to third-party sites that are not owned or controlled by Finantech Limited. Finantech Limited has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party sites or services. We strongly advise you to read the terms and conditions and privacy policy of any third-party site that you visit.

Governing Law

This Agreement (and any further rules, polices, or guidelines incorporated by reference) shall be governed and construed in accordance with the laws of IOM, without giving effect to any principles of conflicts of law.

Website Accuracy

Although we intend to provide accurate and timely information on the SatoshiTango Site, the SatoshiTango Site (including, without limitation, the Content) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it and all decisions based on information contained on the SatoshiTango Site are your sole responsibility and we shall have no liability for such decisions.

Limited License

We grant you a limited, nonexclusive, nontransferable license, subject to the terms of this Agreement, to access and use the SatoshiTango Site and the content, materials, information and functionality available in connection therewith (collectively, the 'Content') solely for informational, transactional, or other approved purposes as permitted by SatoshiTango from time to time. Any other use of the SatoshiTango Site or Content is expressly prohibited. All other rights in the SatoshiTango Site or Content are reserved by us and our licensors. We reserve all rights in the SatoshiTango Site and Content and you agree that this Agreement does not grant you any rights in or licenses to the SatoshiTango Site or the Content, except for this express, limited license. You will not otherwise copy, transmit, distribute, sell, resell, license, de-compile, reverse engineer, disassemble, modify, publish, participate in the transfer or sale of, create derivative works from, perform, display, incorporate into another website, or in any other way exploit any of the Content or any other part of the SatoshiTango Site or any derivative works thereof, in whole or in part for commercial or non-commercial purposes. Without limiting the foregoing, you will not frame or display the SatoshiTango Site or Content (or any portion thereof) as part of any other web site or any other work of authorship without our prior written permission. If you violate any portion of this Agreement, your permission to access and use the SatoshiTango Services may be terminated pursuant to this Agreement. In addition, we reserve the right to all remedies available at law and in equity for any such violation.'SatoshiTango.com', 'SatoshiTango', and all logos related to the SatoshiTango Services or displayed on the SatoshiTango Site are either trademarks or registered marks of SatoshiTango or its licensors. You may not copy, imitate or use them without SatoshiTango's prior written consent.

Application Programming Interface (API)

Any person or entity who uses SatoshiTango's Application Programming Interface ('SatoshiTango API') must comply with the terms of this User Agreement and/or any other conditions as SatoshiTango may put into place in its sole discretion from time to time. The SatoshiTango API is owned by SatoshiTango and is licensed to SatoshiTango API users on a non-exclusive, non-sublicensable basis.

Security

Security

We have implemented security measures designed to secure your information from accidental loss and from unauthorized access, use, alteration or disclosure. However, we cannot guarantee that unauthorized persons will never gain access to your information, and you acknowledge that you provide your information at your own risk, except as otherwise provided by applicable law.

Guarding your Password

You will choose a password when registering. You are responsible for maintaining the confidentiality of your password and account. You are fully responsible for all activities that occur using your password or account. Please notify us immediately of any unauthorized use of your password or account or any other breach of security. We will not be liable for any loss that you may incur as a result of someone else using your password or account, either with or without your knowledge. You may not use anyone else's password at any time.

Merchant Terms and Conditions

Merchant Services

Through our Merchant Services, SatoshiTango enables Merchants to accept bitcoin from customers as a method of payment and processes the transfer of bitcoin to Merchants from their customers. By using the Services, you agree that we are acting as a payment processor and as your agent. You authorize us to receive, hold and disburse funds on your behalf and to take any and all actions that we think are necessary or desirable to provide the Services and to comply with applicable law. We are not a Bitcoin wallet. In addition to the other terms set forth in this Agreement, Merchants who utilize the Merchant Services are subject to this Section

Instant Exchange

SatoshiTango offers an Instant Exchange Service to all Merchants who have a SatoshiTango Account. The Instant Exchange Service allows Merchants to designate the price of their goods and services in American Dollars and customers to pay for their purchases from such Merchant in bitcoin based on the Sell Price Conversion Rate quoted by SatoshiTango on the SatoshiTango Site and displayed to the customer at the time that the customer approves the purchase. In connection with the Instant Exchange Service, the Merchant, as merchant of record for each transaction, shall: (i) accept bitcoin into their corresponding SatoshiTango account; (ii) immediately sell such bitcoin to SatoshiTango using the Instant Exchange Service, and (iii) subsequently receive the proceeds from such bitcoin sale transaction from SatoshiTango in American Dollars. By using this service, each Merchant agrees that regardless of any change in the price of bitcoin between the time of purchase and settlement, the Merchant will receive the fixed purchase price as designated by the Merchant in American Dollars at the time the customer approved the purchase.

Merchant Transactions

Each Merchant acknowledges and agrees that SatoshiTango has no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that the Merchant may sell to customers using the SatoshiTango Services. Each Merchant is responsible for handling customer inquiries related to the goods and/or services it sells to customers through the SatoshiTango Services, except for inquiries related to payment for such goods or services which will be handled by SatoshiTango. Each Merchant warrants that it will not use any SatoshiTango Services in connection with any Restricted Activities, as described herein. Each Merchant confirms that by opening a SatoshiTango Account, the Merchant will not use the SatoshiTango Services to accept payments in connection with any of the Prohibited Businesses. When a Merchant must issue a refund to a customer, SatoshiTango will debit the Merchant's SatoshiTango account for the relevant number of American Dollars and the Merchant shall purchase the relevant amount of bitcoin in American Dollars and provide a refund to the customer in bitcoin having a value equal to the transaction amount being refunded, as expressed in American Dollars, based on the then current Conversion Rate.

Obligations of Merchants

In addition to the obligations set forth elsewhere in this Agreement, Merchants shall:

(I) At all times maintain all licenses, registrations, authorizations and approvals required to operate their business, conduct all activities related thereto, and utilize the SatoshiTango Services in connection therewith.

(II) Ensure that all aspects of their business, including (a) all Merchant activities, and the activity of any third party engaged by the Merchant, (b) the goods and serviced offered for sale by Merchant, and (c) the acts or omissions of each Merchant in connection with their use of SatoshiTango Services comply with applicable law at all times.

(III) Promptly provide, and cause third parties under its control to promptly provide, such information as SatoshiTango may request from time to time regarding (a) the Merchant, its policies, procedures, and activities, (b) any good or service offered for sale and for which the Merchant may accept payment by use of SatoshiTango Services, or (c) any transaction conducted through the use of SatoshiTango Services, to the extent SatoshiTango deems such information reasonably necessary to comply with its policies or procedures, applicable law, an audit, or the guidance or direction of, or request from, any regulatory authority or financial institution.

(IV) Within the SatoshiTango-hosted payment page, accurately identity the sale item in the Item Name field and provide an accurate and succinct description of the same sale item in the Item Description Field.

Merchant Account Cancellation

If, in SatoshiTango's discretion, a Merchant is understood to take any action that SatoshiTango deems as circumventing SatoshiTango's controls, including, but not limited to, opening multiple SatoshiTango Accounts or abusing promotions which SatoshiTango may offer from time to time, SatoshiTango may cancel or suspend the corresponding Merchant Account(s). SatoshiTango Merchant Account(s) may also be suspended or cancelled according to the procedure set forth in these Terms and Conditions (a) as required by law, (b) in response to a subpoena, court order, or other binding government order, (c) if the Merchant engages in any Restricted Activity, or (d) if SatoshiTango determines that your Account activity presents a heightened risk of legal or regulatory non-compliance.

Customer Verification

You are solely responsible for obtaining any information required of those who purchase your goods or services. For instance, if applicable law prohibits a sale to persons under the age of 18 years, you must ensure that a purchaser is at least 18 years of age. Similarly, if applicable law requires that a purchaser's identity be verified, you must verify the purchaser's identity. We will not be responsible for your failure to adequately verify your purchasers' identities or qualifications.

Our Right to Reject

We reserve the right to decline to process a sale if we believe that it violates these Terms or would expose you, other merchants, purchasers, or other parties to harm. If we reasonably suspect that your SatoshiTango account has been used for an illegal purpose, you authorize us to share information about you, your SatoshiTango account, and your account activity with law enforcement.

Our Right to Inspect

We may ask for permission to inspect your business location, in connection with your use of the Services or specific transactions. If you refuse our request, we may suspend or terminate your SatoshiTango account.

Advertising

By mutual consent, we may publish your corporate name, artwork, text and logo (Merchant Content) on the SatoshiTango website and promotional materials to acknowledge you as our customer. You represent and warrant to us that you have the right to provide the Merchant Content to us, and that the use, copying, modification and publication of the Merchant Content by us: (a) will not infringe, violate or misappropriate any copyright, patent, trade secret or other proprietary rights, (b) will not infringe any rights of publicity or privacy, and (c) will not be defamatory or obscene or otherwise violate any law.

Settlements in American Dollars

If you wish to receive your funds by direct deposit, you must provide us with valid bank account information and keep such information up to date. We will send a direct deposit to your bank account to clear out your accumulated balance. Minimum settlement amounts apply; please refer to FAQ for information related to minimum settlement amounts and deposit frequency.

Your Bank Account

You must provide us with written notice at least 1 business day prior to closing your bank account. If you wish to continue to receive direct deposits, you must provide us with information for a replacement bank account. You are solely liable for all fees and costs associated with your bank account and for all overdrafts. You authorize us to initiate electronic credits to your bank account at any time, as necessary to process your transactions. We will not be liable for any delays in receipt of funds or errors in bank account entries caused by third parties.

Disclosure of Your Refund Policy

Merchants are required to have a clear refund policy and to disclose that policy to their customers. We recommend you refund the amount of the initial purchase in the currency in which the item was priced.

Purchaser Complaints

Purchasers filing complaints about a purchase will be forwarded to you for resolution. SatoshiTango reserves the right to terminate accounts that receive excessive complaints.

Prohibited Businesses

The following categories of businesses, business practices, and sale items are barred from SatoshiTango Services ('Prohibited Businesses'). By opening a SatoshiTango Account, you confirm that you will not use SatoshiTango Services to accept payments in connection with the following businesses, activities, practices, or items:

1. Operating as an unlicensed money transmitter, money service, payment service provider, e-money, or any other financial services business which requires licensure, including but not limited to exchanges of virtual currencies, sales of money orders or traveler's checks and escrow services

2. Counterfeit products or any product or service that infringes upon the copyright, trademark, or trade secrets of any third party

3. Stolen goods

4. Narcotics, controlled substances, prescription and pharmaceutical services, drug paraphernalia or any substances designed to mimic illegal drugs

5. Gambling

6. Sports forecasting or odds making

7. Prostitution or illegal escort services

8. Violent acts towards self or others or activities or items that encourage, promote, facilitate or instruct others regarding the same

9. Funding any of the items included on this Prohibited Businesses list

10. Extortion, blackmail or efforts to induce unearned payments

11. Unlicensed sale of firearms and other weapons

12. Engaging in deceptive marketing practices

13. Any business that violates any law, statute, ordinance or regulation

Restricted Activities

In connection with your use of the SatoshiTango Services, and your interactions with other users, and third parties you will not:

• Violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to be a member (for example, those laws, rules, or regulations governing financial services, controlled substances, unlawful gambling or consumer protections);

• Partake in a transaction that involves the proceeds of any unlawful activity

• Defraud or attempt to defraud SatoshiTango or other SatoshiTango users;

• Infringe upon SatoshiTango's or any third party's copyright, patent, trademark, or intellectual property rights;

• Provide false, inaccurate or misleading information;

• Take any action that imposes an unreasonable or disproportionately large load on our infrastructure or detrimentally interfere with, intercept, or expropriate any system, data, or information;

• Interfere with another individual's or entity's access to or use of any of the SatoshiTango Services;

• Defame, abuse, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others;

• Publish, distribute or disseminate any unlawful material or information;

• Transmit or upload any material to the SatoshiTango Site that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs;

• Harvest or otherwise collect information from the SatoshiTango Site about others, including without limitation email addresses, without proper consent;

• Act as a payment intermediary or aggregator or otherwise resell any of the SatoshiTango Services unless expressly authorized by SatoshiTango in writing;

• Transfer any rights granted to you under this Agreement;

• Use the SatoshiTango Account information of another party to access or use the SatoshiTango Site, except in the case of specific Merchants and/or applications that are specifically authorized by a user to access such user's SatoshiTango Account and information;

• Otherwise attempt to gain unauthorized access to the SatoshiTango Site, other SatoshiTango Accounts, computer systems or networks connected to the SatoshiTango Site, through password mining or any other means; or

• Engage in transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law.

We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, legal process or governmental request.

Miscellaneous

Taxes

You are responsible for determining any and all taxes assessed, incurred, or required to be collected, paid, or withheld for any reason in connection with your use of our software and services (Taxes). You also are solely responsible for collecting, withholding, reporting, and remitting correct Taxes to the appropriate tax authority. We are not obligated to, nor will we determine whether Taxes apply, or calculate, collect, report, or remit any Taxes to any tax authority arising from any transaction.

Force Majeure

Neither you nor we will be liable for delays in processing or other nonperformance caused by such events as fires, telecommunications, utility, or power failures, equipment failures, labor strife, riots, war, nonperformance of our vendors or suppliers, acts of God or other causes over which the respective party has no reasonable control; provided that the party has procedures reasonably suited to avoid the effects of such acts.

Account Closure

Our Right to Close or Suspend Your Account

We may terminate these Terms and close your accountee: (a) to continue to be bound by these Terms, (b) to immediately stop using the Services, (c) that at our discretion, upon notice to you via email or phone communication. We may also suspend your access to the Services if we suspect that you have failed to comply with these Terms, pose an unacceptable fraud risk to us, or if you provide any false,incomplete, inaccurate or misleading information. We will not be liable to you for any losses that you incur in connection with our closure or suspension of your account.

Effect of Account Closure

If your SatoshiTango account is closed, you agree: (a) to continue to be bound by these Terms, (b) to immediately stop using the Services, (c) that the license provided under these Terms shall end, (d) that we reserve the right (but have no obligation) to delete all of your information and account data stored on our servers, and (e) that we shall not be liable to you or any third party for termination of access to the Services or for deletion of your information or account data.

Indemnification

You agree to indemnify SatoshiTango, its affiliated and related entities and any of its officers, directors, employees and agents from and against any claims, costs, losses, liabilities, damages, expenses and judgments of any and every kind (including, without limitation, costs, expenses, and reasonable attorneys' fees) arising out of, relating to, or incurred in connection with any claim, complaint, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises or relates to: (a) any actual or alleged breach of your representations, warranties, or obligations set forth in these Terms; (b) your wrongful or improper use of the Services; (c) the products or services sold by you through the Services, including but not limited to any claims for false advertising, product defects, personal injury, death or property damage; or (d) any other party's access or use of the Services with your account information.

No Warranties

WE PROVIDE THE SERVICES ON AN “AS IS” AND “AS AVAILABLE” BASIS AND YOUR USE OF THE SERVICES IS AT YOUR OWN RISK. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE PROVIDE THE SERVICES WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED (INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANT ABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT). WITHOUT LIMITING THE FOREGOING, WE DO NOT WARRANT THAT THE SERVICES (AND OUR WEBSITE): WILL OPERATE ERROR-FREE OR THAT DEFECTS OR ERRORS WILL BE CORRECTED; WILL MEET YOUR REQUIREMENTS OR WILL BE AVAILABLE, UNINTERRUPTED OR SECURE AT ANY PARTICULAR TIME OR LOCATION; ARE FREE FROM VIRUSES OR OTHER HARMFUL CONTENT. WE DO NOT ENDORSE, WARRANT, GUARANTEE OR ASSUME RESPONSIBILITY FOR ANYPRODUCT OR SERVCE OFFERED OR ADVERTISED BY A THIRD PARTY THROUGH THE SERVICES OR THROUGH OUR WEBSITE, AND WE WILL NOT BE A PARTY TO NOR MONITOR ANY INTERACTIONS BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.

Limitation of Liability

IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES OR ANY LOSS, THEFT, DISAPPEARANCE, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST DATA OR OTHER INTANGIBLE LOSSES THAT RESULT FROM THE USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE SERVICES, REGARDLESS OF THE FORM OF ACTION AND WHETHER OR NOT WE KNEW THAT SUCH DAMAGE MAY HAVE BEEN INCURRED. IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DAMAGE, LOSS OR INJURY RESULTING FROM HACKING, TAMPERING, VIRUS TRANSMISSION OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICES, YOUR SATOSHITANGO ACCOUNT OR ANY INFORMATION CONTAINED THEREIN. IN NO EVENT WILL OUR LIABILITY FOR ANY DAMAGES ARISING IN CONNECTION WITH THE SERVICES EXCEED THE FEES EARNED BY US IN CONNECTION WITH YOUR USE OF THE SERVICES DURING THE 6 MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY. THE FOREGOING LIMITATIONS OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.