TERMS & CONDITIONS

TERMS AND CONDITIONS

PLEASE CAREFULLY READ THESE TERMS AND CONDITIONS BEFORE USING THE SERVICES PROVIDED BY BILENEX.

Last updated: 24/05/2024

DEFINITIONS

Company — Bilenex Sp. z o.o., Reg. No. 001097067, registered address: HOŻA 86, Warsaw, 00-682, Poland.

AML/CFT — Anti-Money Laundering and Counter-Terrorist Financing.

Bilenex — A collective term that may refer to both the Platform and the Company.

Business Day — Any calendar day except Saturday, Sunday, public holidays, or any other days when financial institutions are permitted to close in Poland.

Cryptocurrency — A type of digital currency created and managed through advanced cryptographic techniques. It does not have the status of official money and functions independently of any centralised authority.

Customer/User — A person who is at least 18 years old, has carefully read and agreed to this Customer Agreement, and may access the Company’s Services through the Website Platform.

Customer Agreement — This Agreement.

Deposit — A transfer of funds made by the Customer/User to Bilenex Sp. z o.o. to execute an exchange order placed on the Platform.

Fee — A commission deducted from the total amount of money sent by Users to Bilenex Sp. z o.o. as payment for the exchange services provided.

FIAT Currency — Government-issued currency that is recognised as legal tender in the country where it is issued.

Funds — Fiat currency and/or cryptocurrency.

KYC or Due Diligence — The process by which Bilenex requests and reviews certain documents and information in order to confirm the Customer’s identity and ensure compliance with applicable legal requirements.

Login Credentials — A combination of unique identifiers, such as a username and password, that allows the Customer to authenticate himself/herself before accessing an Account.

Services — Services provided by the Company through the Platform.

Website Platform — The website operated by the Company: https://bilenex.com

1. INTRODUCTION

1.1. By accepting this document, the Company and the Customer enter into a binding legal Agreement.

1.2. The Customer confirms that he/she has carefully reviewed and fully understood all aspects of this Agreement. By proceeding to use the Services, the Customer confirms his/her consent and agreement to all clauses outlined herein.

2. SERVICES

2.1. The Company offers the Customer an exchange service that allows the Customer to place Orders to purchase Virtual Assets in exchange for fiat money.

2.2. Through the Platform, the Customer is entitled to access real-time quotes and transaction details for virtual asset products, submit instructions for virtual asset transactions, and complete virtual asset transactions.

2.3. To access the Services, the Customer must first register and verify an Account, thereby becoming a User. The Services are accessible only through an Account and are intended to be used exclusively by the User in whose name the Account was opened.

3. GENERAL CONDITIONS

3.1. Only one Account may be opened by the Customer, subject to the legality of such use in his/her country of residence.

3.2. By opening an Account, the Customer confirms to the Company that doing so complies with all applicable laws and regulations.

3.3. It is the Customer’s responsibility to ensure the accuracy and relevance of the information provided during registration. Any updates must be sent to the Company within two weeks. The Company, in line with its AML/CFT obligations, may ask the Customer to verify the accuracy of the provided information or provide supporting documents.

3.4. Before authorising any Services, the Company reserves the right to carry out any necessary investigations related to money laundering, terrorist financing, fraud, or other illegal activity. Additional verification documents may be requested from the Customer in accordance with the Company’s policies.

3.5. The Company does not accept cash transactions. Each transaction between the Company and the Customer must be made by wire transfer, which enables the Company, at its discretion, to verify the identities of both parties.

3.6. The Company does not process transactions from third parties for the Customer’s benefit.

3.7. The Customer is accountable for all activities carried out through his/her Account. The Customer must immediately notify the Company of any unauthorised use or security breach. The Company is not responsible for unauthorised Account use, even if it may use monitoring techniques to identify fraudulent activity. By using personal password and Account information, the Customer undertakes to bear full responsibility for any unauthorised use.

3.8. Illegal use of the Account, including money laundering and fraud, is prohibited. Any suspicious activity may be immediately reported by the Company to the relevant authorities. The Customer is strictly prohibited from misusing his/her Account in order to bypass any limitations set by the Company.

3.9. If the Customer engages in transactions that violate the terms of this Agreement, the Company reserves the right to take the following actions:

• Reverse the exchange.
• Suspend the Customer’s Account or the transaction.
• Notify the relevant law enforcement authority about the transaction.
• Claim damages from the Customer.

4. REGISTRATION PROCESS

4.1. To create an Account on the Platform, the Customer must complete the registration process.

4.2. Only individuals who are at least 18 years old may open an Account. Whenever necessary or advised by relevant governmental, regulatory, or law enforcement authorities, or based on the Company’s own risk assessment, the Company reserves the right, at its sole discretion, to refuse the opening of an Account and to temporarily or permanently suspend access to any Account, or any part or specific functionality of it.

4.3. During the Account registration process, the Customer must choose a username and password and may be required to set up a multi-factor authentication system, collectively referred to as “Login Credentials”. For security reasons, the Company may occasionally require the Customer to update his/her Login Credentials. The Customer may access the Account only using Login Credentials unless the Company authorises otherwise.

5. VERIFICATION PROCESS

5.1. As part of the Verification Process, the Customer must provide the Platform with the necessary documentation and information to verify his/her identity and ensure compliance with AML requirements. The Customer must provide accurate information as requested, which may include:

• Personal information, including name, date of birth, and address.
• Contact information, including email address, phone number, and any other contact details.
• Copies of identification documents, including passport or ID card, proof of address, and any other documents deemed necessary to verify identity and residence.
• Documents and information to verify the source of funds and/or wealth, including information about deposits of fiat money from accounts the Customer maintains with other service providers and, in cases of enhanced due diligence, data related to other electronic wallets the Customer holds with third-party service providers.

5.2. The Platform has the right to conduct any inquiries it considers necessary, directly or indirectly, to confirm the accuracy and relevance of the data submitted by the Customer during the Verification Process.

5.3. The Company will notify the Customer via the email address provided by the Customer whether he/she has met the AML requirements and is eligible to open an Account and become a User.

6. ACCOUNT MANAGEMENT AND SECURITY

It is the Customer’s responsibility to maintain secure access to the Account. The Customer should take the following actions:

• Select a unique password, update it regularly, and keep Login Credentials private and separate from other authentication methods.
• Maintain the complete confidentiality of Login Credentials.
• Log out of the Account when it is not in use.
• Notify the Company in writing if there is reason to believe that unauthorised activity has occurred on the Account. Subject to the Company’s judgement, the right to request an investigation and correction of the issue may be forfeited if unauthorised access is not reported as soon as it is discovered.

7. ORDER PLACEMENT

7.1. Orders related to Exchange Services are placed on the Platform through the User’s Account.

7.2. The Customer agrees that the Company carries out every Order based on the Customer’s representation that he/she intends to exchange virtual assets for fiat money or other supported assets or instruments.

7.3. When placing an Order, the Customer will be required to provide the following information so that the Company can process it on his/her behalf:

• The exact volume of virtual asset or fiat money that the Customer wishes to exchange.
• The amount of consideration.
• The exact volume of virtual asset or fiat money that the Customer wishes to receive in exchange.
• Any additional data that the Company may require to complete the Order.

8. CONFIDENTIALITY

Privacy and data protection are governed by the Company’s Privacy Policy, which is available on the Platform.

9. RESTRICTED JURISDICTIONS

9.1. The Company does not provide its Services to individuals from high-risk or non-cooperative jurisdictions.

9.2. The Company’s Anti-Money Laundering Policy contains the full list of restricted countries.

9.3. The Company does not allow transfers to or from an account held at a payment institution or bank incorporated in the USA, its territories or possessions, or in countries identified as high-risk or non-cooperative jurisdictions.

10. SERVICE FEES

10.1. After completing the registration process and having the Customer’s identity verified, the Customer is granted access to the Platform. The Customer may then use various services, including services for exchanging cryptocurrency for fiat money and vice versa, in accordance with these Terms and Conditions. The Customer agrees to pay any fees associated with using these services.

10.2. The cost charged by Bilenex Sp. z o.o. for deposits of fiat currencies is defined by the “Spread” and a fixed fee of EUR 50.00 per transaction, as listed on the Platform.

10.3. The cost charged by Bilenex Sp. z o.o. for deposits of cryptocurrencies is defined by the “Spread” only.

10.4. The spread is determined at the moment of the transaction based on market conditions.

10.5. Bilenex Sp. z o.o. reserves the right to include the service cost in the exchange rate offered to the Customer.

10.6. The Company reserves the right to modify its costs, rates, expenses, and fees without prior notice.

10.7. If the Customer’s Order is for less than EUR 50.00, no service will be provided and no refund will be available.

10.8. Before placing a buy or sell Order, the Customer has the opportunity to review the commission rates for the desired service. The Customer also has the option to decline the service if the fee is deemed too high or too low at his/her discretion.

11. THE COMPANY’S RIGHTS AND RESPONSIBILITIES

11.1. The Customer acknowledges that the Company has the following rights:

11.1.1. The right to refuse, revoke, remove, or alter any exchange or transaction initiated by the Customer.

11.1.2. The right to place the Customer’s Account on temporary hold.

11.1.3. The right to modify any Customer transaction in order to ensure that the Services are provided in accordance with this Agreement.

11.1.4. The right to revoke access, set restrictions, suspend, terminate, or cancel the use of the Platform, either generally or in relation to specific funds, transactions, or Customers.

11.1.5. The right, at its sole discretion, to refuse or terminate any transaction and deny access to the Platform based on factors including:

• A violation of the Platform’s security protocols.
• A total or partial Platform failure that makes its use impracticable, including technological or communication system malfunctions.

11.2. During an internal investigation, the Company may temporarily suspend a Customer’s Account and restrict certain actions, including withdrawals, in order to support efforts to prevent money laundering and terrorist financing, without affecting its rights. This may apply if the Company has reasonable suspicion that the Customer’s behaviour:

• Is fraudulent.
• Violates the law, this Agreement, or the Company’s AML/CFT policies.
• Does not comply with the terms of this Agreement or the Services offered by the Company.

11.3. The Platform’s content, configurations, and functionality are subject to complete control and modification by the Company at any time.

11.4. The Company reserves the right to determine whether the Platform is accessible for a given financial instrument or transaction at a given time or place.

11.5. At its sole and absolute discretion, the Company reserves the right to offer the Platform and process exchange transactions.

11.6. The Company reserves the right to consult outside counsel, experts, investigators, or analysts in the event of a disagreement.

11.7. The Customer understands that although the Company will make every reasonable effort to carry out his/her transactions and exchange Orders, the Company cannot guarantee that all requests will be executed. The Customer agrees to release the Company from liability for any errors arising during the execution process, to the maximum extent permitted by applicable law.

12. CUSTOMER’S GUARANTEES, PERMISSIONS, AND REPRESENTATIONS

12.1. The Customer makes the following guarantees, permissions, and representations:

• The Customer has full legal capacity and is at least 18 years of age.
• The Customer is the only person with access to the Account.
• The Customer is legally capable of entering into this Agreement.
• As of the current date, all information submitted during the Account opening procedure is true, accurate, and complete. The Customer agrees to notify the Company immediately if any of this information changes.

12.2. The Customer agrees to waive any rights to confidentiality with respect to any correspondence concerning disputes, court cases, or public statements made by the parties, including any results or rulings from courts or other dispute resolution bodies. Furthermore, the Customer consents to the Company’s disclosure of the contents of such communications in accordance with the General Data Protection Regulation (EU) 2016/679 (GDPR), at the Company’s sole discretion.

12.3. The Customer certifies and undertakes to notify the Company immediately of any inaccuracies found on the Platform, Account, or Services that may affect the Customer’s interests. The Customer agrees not to take advantage of any system flaws for personal gain.

12.4. The Customer has one (1) business day to notify the Company of any unauthorised or incorrectly executed transactions resulting from an error on the Customer’s part. In the following cases, the Customer shall be solely liable for any losses resulting from the relevant transaction:

• If the Customer’s failure to safeguard the Account Credentials led to the unauthorised transaction.
• If, within one (1) business day of the transaction date, the Customer does not dispute and notify the Company of the unauthorised or improperly completed transaction.

12.5. The Customer guarantees that the financial data provided to the Company when opening the Account accurately reflects his/her current financial status.

12.6. The Customer acknowledges that he/she does not have any separate agreement with any Company employee or agent regarding the Services in the Account, including any agreement to guarantee profits or limit losses. The Customer understands that he/she must promptly inform the Company’s Compliance Officer in writing if any such agreement exists. Additionally, the Customer must immediately report in writing to the Compliance Officer any representations made by others about the Account that contradict statements received from the Company. The Customer must authorise each transaction before it is executed, unless he/she has signed the Company’s Limited Transaction/Exchange Authorisation delegating discretion to another party. Any disputed transactions must be reported to the Compliance Officer in accordance with the notification requirements outlined in this Agreement. The Customer agrees to indemnify and hold the Company harmless from any damages or liability resulting from failure to promptly notify the Compliance Officer of the above-mentioned circumstances.

12.7. The Customer agrees to promptly reimburse the Company for all damages, costs, and expenses, including legal fees, incurred by the Company in enforcing any provisions of this Agreement or any other agreements between the Company and the Customer. To the extent permitted by law, the Company reserves the right to offset any damages or amounts owed by the Customer to the Company for breach of this Agreement or any other obligations under this Agreement against funds in the Customer’s Account held by the Company.

12.8. The Customer acknowledges his/her responsibility to stay informed about regulatory changes in his/her country of residence and to understand the applicable rules governing the use of the Platform.

12.9. The Customer is solely responsible for calculating and reporting his/her activities to the relevant tax authorities, if required.

13. ACCOUNT SUSPENSION AND TERMINATION

13.1. The Customer may terminate his/her Account at any time by providing prior written notice and resolving any pending activity on the Account, including closing all open positions. This notice must be sent via email and must clearly indicate the Customer’s intention to terminate the Account.

13.2. The Company reserves the right to immediately suspend access to the Platform, stop providing Services to the Customer, and/or terminate the Account if the Customer refuses or fails to complete the Verification Process, fails to provide required information in violation of these Terms, or engages in any illegal or fraudulent activity. This includes submitting forged documents and/or false personal information. In such cases, the Company may suspend Services or terminate the Account immediately and take further action against the Customer.

14. LIMITATION OF LIABILITY AND INDEMNIFICATION

14.1. Under no circumstances will the Company, including its licensors, agents, suppliers, resellers, service providers, or any other affiliates, be liable to the Customer or any third party for any direct, special, indirect, incidental, consequential, exemplary, or punitive damages. These damages may include, but are not limited to, loss of profits, business opportunities, reputation, information, revenue, or goodwill. Such damages may result from the Customer’s use of the Company’s Services and Platform, from any materials available on the Platform, or from the Customer’s misunderstanding of cryptocurrencies, their derivatives, or the market for such currencies and derivatives.

14.2. The Company will not be responsible for any disruption or impairment of the Platform or Services, or of intermediary services relied upon by the Company to fulfil its obligations, if such disruption or impairment is caused by abnormal or unforeseeable circumstances beyond the Company’s reasonable control or the control of the intermediary involved.

14.3. The Company will not be liable to the Customer for any claims, losses, damages, costs, or expenses, including attorney’s fees, arising directly or indirectly from events, actions, or omissions such as civil unrest, war, insurrection, government actions, natural disasters, market conditions, communication failures, or computer system malfunctions.

14.4. The Company will not be responsible for any taxes, duties, or charges arising from transactions between the Customer and another Customer of the Company.

14.5. The Customer agrees to indemnify and protect the Company to the fullest extent permitted by applicable laws if any third party suffers harm due to the Customer’s unlawful actions, or if the Company must defend against any claims, including criminal actions.

14.6. If any regulatory body determines that any part of this section of the Agreement cannot be enforced, liability will be limited to the maximum extent permitted by applicable law.

15. INTELLECTUAL PROPERTY

15.1. Unless stated otherwise, all copyrights and other intellectual property rights related to the content and materials on the Company’s Website or provided with the Services are owned exclusively by the Company. The Company grants the Customer a limited, non-exclusive, and non-transferable licence to access and use the data provided by the Company for personal or internal business purposes. However, this licence does not permit unauthorised distribution, use, modification, or public display of any data provided by the Company.

15.2. If the Company suspends or terminates the Customer’s access to the Services, the licence granted under this provision will automatically terminate.

16. DISPUTE RESOLUTION

16.1. If the Customer believes that the Company has violated any part of this Agreement through its actions or omissions, resulting in a conflict, the Customer has the right to file a complaint with the Company within one (1) business day of the incident. Complaints must be sent via email to: [email protected]

17. GOVERNING LAW AND JURISDICTION

17.1. This Agreement, along with the rights and obligations of the parties, shall be governed by and enforced in accordance with the laws of Poland.

17.2. The Customer agrees that any civil action, arbitration, or legal proceeding arising from this Agreement or related to the Customer’s Account, involving the Company, its employees, or agents, shall be exclusively initiated, heard, and resolved in a court located within the Company’s jurisdiction. The Customer also waives the right to a jury trial in any such action or proceeding and agrees not to transfer the proceeding to any other location. The Customer acknowledges that no action, regardless of its form, arising from this Agreement or the transactions conducted under it, may be initiated by the Customer more than one year after the cause of action arose.

17.3. The Company may suggest resolving any claim through an independent third-party organisation, such as an arbitration court within the Company’s jurisdiction. The Customer has the option to accept or decline this method of resolution.

18. AMENDMENTS

18.1. The Customer acknowledges and agrees that the Company has the right to alter or amend this Agreement at its discretion. Any modifications or updated versions of the Agreement will be made available on the Platform, together with the date of the most recent update.

18.2. The Customer agrees to comply with the terms of any amendment or change within one (1) business day after the Company has posted it on the Platform, or upon conducting any transaction on the Platform, whichever comes first.

19. FORCE MAJEURE

19.1. The Company will not be held responsible for any damages due to delays or failures in fulfilling its obligations under the Agreement when such delays or failures are caused by circumstances beyond its control. Such circumstances include, but are not limited to, fires, strikes, floods, power outages or failures, acts of enemies of the state, lawful acts of public authorities, or any other events typically recognised as force majeure.

20. SUPPORT

20.1. If the Customer has any questions or concerns regarding this Agreement, his/her rights, or obligations, the Customer may contact the Company using the following details:

Bilenex Sp. z o.o.
Reg. No. 001097067
Office address: HOŻA 86, Warsaw, 00-682, Poland
Email: [email protected]

21. GEOBLOCKER POLICY

21.1. At Bilenex Sp. z o.o., the Company prioritises the security and compliance of its crypto exchange platform. To support these principles, the Company has implemented a Geoblocker Policy designed to enhance the protection of its systems and services.

21.2. The Bilenex Sp. z o.o. Geoblocker Policy specifies the countries and territories from which access to the Platform is restricted. This approach is a proactive step towards safeguarding the Company’s operations, maintaining the integrity of its Services, and complying with global regulatory standards.

21.3. This policy serves as a guide to the geographical restrictions implemented by the Company and provides transparency regarding the regions with limited access. The Geoblocker Policy is regularly reviewed and updated by the Company’s dedicated IT department, reflecting the Company’s commitment to staying current with global developments and adjusting its security measures accordingly.

21.4. Please see the full Geoblocker Policy and list of prohibited IP jurisdictions.