Xazur Digital: USER AGREEMENTLast Revised 27/09/2022
This User Agreement (“Agreement”
) is a contract between you the User of this website/platform (including any sub-domains, unless expressly excluded by their own terms and conditions) and Xazur Technologies Europe UAB, Xazur Technologies India Pvt Ltd, Xazur Technologies Ltd and Berkeley International Group Ltd Republic of Seychelles (as defined below) that applies to your use of the Xazur Digital (Xazur Digital is a trading style of the aforementioned legal entities) Platform (“Xazur Digital”
) as a user (“User”
) to buy or sell Digital Assets, hold Digital Assets, engage in margin trading, leveraged token and/or futures trading (where permissible), use the Xazur Digital Application Programming Interface (“API”
), or use any other services offered through the Site (as defined below) or via the official Xazur Digital mobile application (the “App”
) (together, the “Services”
By registering for a Xazur Digital account (“Account”
When this Agreement mentions “Xazur Digital,” “we,” “us,” or “our,” it refers to the relevant Berkeley International Group entities which are providing the Services. The entity providing Services will generally be determined based on your Country of Residence. Your “Country of Residence”
is the jurisdiction associated with your Account as determined by your official identification document and verified residential address.
IF YOU ARE ACCESSING AND USING THE SERVICES ON BEHALF OF A COMPANY (SUCH AS YOUR EMPLOYER) OR OTHER LEGAL ENTITY, YOU REPRESENT AND WARRANT THAT YOU HAVE THE AUTHORITY TO BIND THAT COMPANY OR OTHER LEGAL ENTITY TO THIS AGREEMENT. IN THAT CASE, “YOU”
WILL REFER TO THAT COMPANY OR OTHER LEGAL ENTITY.
Our Services are not
offered to persons who are citizens of, incorporated in, have their registered office in or reside in the United States or any Restricted Territory as defined in Section 39. To the extent such persons use the Services irrespective of the foregoing, they will be deemed to be subject to the terms of this Agreement.
Note that this Agreement uses the term “Digital Assets”
to refer to bitcoin, ethereum or any other digital assets, cryptocurrencies, virtual currencies or tokens that are available for purchase and exchange through Xazur Digital.
Section 31 of this Agreement governs how this Agreement may be changed over time. The text included in boxes throughout this Agreement is there to help you understand the Agreement but is not part of the Agreement. If after reading this Agreement in its entirety you are still unsure of anything or you have any questions, please feel free to contact our support team using via email.
Please print or save a copy of this Agreement for your records.1.APPLICABLE LAWS AND REGULATIONS
Your conduct on the Xazur Digital platform is subject to the laws, regulations, and rules of any applicable governmental or regulatory authority, including, without limitation, all applicable tax, anti-money laundering (“AML”
) and counter-terrorist financing (“CTF”
If your country of residence is based within the European Economic Area (“EEA”
) and the General Data Protection Regulation (EU) 2016/679 (“GDPR”) applies to our processing of your personal data (within the meaning of GDPR), your representative within the EEA for the purposes of the General Data Protection Regulation (EU) 2016/679 (“GDPR”
) is Xazur Technologies Europe UAB. If your Country of Residence is outside of the EEA, provisions related to the GDPR shall not apply to your use of the Services.
You unequivocally agree and understand that by opening an Account and using the Services in any capacity, you shall act in compliance with and be legally bound by this Agreement and all applicable laws and regulations (including without limitation those stated in this Section 1, where applicable), and failure to do so may result in the suspension of your ability to use the Services or the closure of your Account. For the avoidance of doubt, continued use of your Account, and the receipt of all trading fee discounts and rebates, is conditioned on your continued compliance at all times with this Agreement and all applicable laws and regulations.2.ELIGIBILITY
You must be at least 18 years old and have not previously been suspended or removed from Xazur Digital to enter into this Agreement. By accessing or using Xazur Digital, you further represent and warrant that you are not a Restricted Person nor are you a citizen or resident of the United States or a Restricted Territory (each as defined in Section 39 below).ANY CITIZEN OR RESIDENT OF THE UNITED STATES OR A RESTRICTED TERRITORY IS STRICTLY PROHIBITED FROM ACCESSING OR USING XAZUR DIGITAL.
You represent and warrant that you will not be using Xazur Digital for any illegal activity, including without limitation illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, other violent activities or any prohibited market practices, including without limitation those listed under Section 23.
Notwithstanding the foregoing, Xazur Digital may determine not to make the Services, in whole or in part, available in every market, either in its sole discretion or due to legal or regulatory requirements, depending on the User’s location.3.REGISTRATION PROCESS; IDENTITY VERIFICATION
When registering your Account, you must provide current, complete, and accurate information for all required elements on the registration page. You are the only person authorized to use your Account and you may not share your Account credentials with any other person. You also agree to provide us, when registering an Account and on an ongoing basis, with any additional information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including without limitation a copy of your government issued photo ID or evidence of residency such as a lease or utility bill. You permit us to keep a record of such information and authorise us to make the inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you, our other users, and/or us against fraud or other financial crime, and to take action we deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.
In certain circumstances, we may require you to submit additional information about yourself or your business, provide records, and complete other verification steps (such process, “Enhanced Due Diligence”
You represent and warrant that any and all information provided to us pursuant to this Agreement or otherwise is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible.
From time to time we may be required to request further information regarding your transactions in order to comply with applicable law and regulation and our own policies. Failure to provide such information in a timely fashion may result in the suspension of your ability to use the Services (until you provide such information) or the closure of your Account.4.AML AND CTF COMPLIANCE
Our AML and CTF procedures are guided by all applicable rules and regulations regarding AML and CTF. These standards are designed to prevent the use of the Xazur Digital platform for money laundering or terrorist financing activities. We take compliance seriously and it is our policy to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing or any other financial crimes.5.INITIAL FUNDING; THIRD PARTY TRANSFERS
Xazur Digital Users may acquire Digital Assets directly using fiat currency through Xazur. you can send purchased Digital Assets to the applicable address provided by Xazur Digital and wait for the balance to appear in your Account. Alternatively, if you already own Digital Assets, you may send Digital Assets you already own to the applicable address provided by Xazur Digital and wait for the balance to appear in your Account. It is your responsibility to ensure you send the Digital Assets to the correct address provided for that particular Digital Asset, else your funds may never be recovered.
You acknowledge and agree that certain Digital Assets require a minimum amount for deposits. Deposits below the minimum may not be visible in your Account. You understand that you will be required to meet minimum deposit amounts in order to trade and to be able to withdraw these funds.
If you send a Digital Asset to a Xazur Digital address that is unable to receive that specific Digital Asset, or if you make any typos or inaccuracies in the wallet address, such Digital Asset may be lost forever. If you send a Digital Asset from your Xazur Digital account to an external address that does not correspond to that exact Digital Asset, or if you make any typos or inaccuracies in such wallet address, such Digital Asset may be lost forever. You assume all liability for any losses incurred as a result of sending a Digital Asset to an incorrect or non-compatible address.
Xazur Digital makes no representations or warranties regarding the length of time that may be required to complete the transfer of your Digital Assets from a third party wallet or other source until these Digital Assets become available to you in your Account.
By entering into this Agreement, you agree to receive electronic communications and notifications in accordance with our E-Sign
Printing and mailing correspondence, disclosures, and account statements takes time and money, so we like to handle these matters electronically.
This Agreement is provided to you in English. We will communicate with you in English for all matters related to your use of our Services. Where we have provided you with a translation of the English language version of this Agreement, you agree that the translation is provided for your convenience only and that the English language version of the Agreement will govern your use of the Services.8.SECURITY OF USER INFORMATION
You are responsible for maintaining the confidentiality and security of any and all account names, User IDs, passwords and any other security feature that you use to access the Services. You are responsible for (i) keeping your email address up to date in your Account profile and (ii) maintaining the confidentiality of your User information and the security of your Account, which includes the enabling of all relevant security features. You agree to notify Xazur Digital immediately if you become aware of any unauthorized use of the Services or any other breach of security regarding the Services. Xazur Digital will not be liable for any loss or damage arising from your failure to protect your Account or your User information.
We shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We advise the regular use of a reliable virus and malware screening and prevention software. If you question the authenticity of a communication purporting to be from Xazur Digital, you should login to your Account through the Xazur Digital website (https://xazurdigital.com
) (the “Site”
) or via the App, not by clicking links contained in emails.
We use reasonable efforts to protect your Account, and we need you to do the same. It is important that you always protect not only your password but also the email account associated with your Account and any device used to access your Account. We strongly advise you to enable two-factor authentication: this offers you greater protection from possible attackers attempting to log in to your Account than password alone and in situations where your email and/or password is compromised by a third party data breach.9.API USE
Subject to your compliance with this Agreement and any other agreement which may be in place between you and Xazur Digital related to your use of the API, Xazur Digital hereby grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license, to use the API solely for the purposes of trading on Xazur Digital. You agree not to use the API or data provided through the API for any other commercial purpose. You access and use the API entirely at your own risk, and Xazur Digital will not be responsible for any actions you take based on the API.
Xazur Digital may, at its sole discretion, set limits on the number of API calls that you can make, for example, to maintain market stability and integrity. You acknowledge and agree that if you exceed these limits, Xazur Digital may moderate your activity or cease offering you access to the API (or any other API offered by the Xazur Digital group), each in its sole discretion. Xazur Digital may immediately suspend or terminate your access to the API without notice if it believes you are in violation of the terms of this Agreement (including, without limitation, Section 23) or any other agreement which may be in place between you and Xazur Digital related to your use of the API.10.ACCOUNT SUSPENSION & CLOSURE
We may, in our sole and absolute discretion, without liability to you or any third party, refuse to let you open an Account, suspend your Account, consolidate Accounts if you have more than one or terminate your Account or your use of one or more of the Services. Such actions may be taken as a result of one or more of a number of factors, including without limitation account inactivity, failure to respond to customer support requests, failure to provide positive identification, a court order or your violation of the terms of this Agreement (including without limitation Section 23). Xazur Digital may also temporarily suspend access to your Account in the event that a technical problem causes a system outage or Account errors until the problem is resolved. If you do not accept the terms and conditions of this Agreement, we may, in our sole and absolute discretion, without liability to you or any third party, temporarily or permanently suspend your Account, or terminate your Account or your use of one or more of the Services.
You may terminate this Agreement at any time by closing your Account in accordance with this Agreement. In order to do so, you should contact Support who will assist you in closing your Account. You should also contact Support if you are seeking to close an Account on behalf of a deceased User. You may not close an Account if Xazur Digital determines, in its sole discretion, that such closure is being performed in an effort to evade a legal or regulatory investigation or to avoid paying any amounts otherwise due to Xazur Digital.
We encourage you to withdraw any remaining balance of Digital Assets prior to issuing a request to close your Account. We will be unable to close your Account at your request unless you have withdrawn your remaining balance of Digital Assets. We reserve the right to restrict or refuse to permit withdrawals from your Account if
(i) your Account has otherwise been suspended or closed by Xazur Digital in accordance with this Agreement;
(ii) to do so would be prohibited by law or a court order or we have determined that the Digital Assets were obtained fraudulently; or
(iii) you have not undergone the required identity verification procedure such that your identity has been verified, as indicated by your Account.
You can check whether or not your Account has been verified by contacting us via email.
Upon closure or suspension of your Account, you authorize Xazur Digital to cancel or suspend pending transactions.
In the event that you or Xazur Digital terminates this Agreement or your access to the Services, or deactivates or cancels your Account, you remain liable for all activity conducted with or in connection with your Account while it was open and for all amounts due hereunder.
We reserve the right to maintain your account registration and trading information, after you close your Account, for business and regulatory compliance purposes, for a period no less than 7 years, subject to applicable laws and regulations.11.RISKS OF TRADING DIGITAL ASSETS ON THE PLATFORM
The following list of risks associated with Digital Assets and the Services is not exhaustive.No advice
Xazur Digital provides an execution-only service and does not advise on the merits of any particular transactions, trading risk or their tax consequences, and Xazur Digital does not provide any other financial, investment or legal advice in connection with the Services. To the extent that we or our representatives do provide trading recommendations, market commentary, or any other information, the act of doing so is incidental to your relationship with us and such information may not be considered as investment or financial advice and should not be construed as such. Any decision to buy or sell Digital Assets is the User’s decision and Xazur Digital will not be liable for any loss suffered.
You accept the risk of trading Digital Assets. In entering into any transaction on Xazur Digital, you represent that you have been, are, and will be solely responsible for making your own independent appraisal and investigations into the risks of the transaction and the underlying Digital Asset. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any transaction or any underlying Digital Asset.Digital Assets and transfers
Trading Digital Assets can be extremely risky. Each Digital Asset has unique features that make it more or less likely to fluctuate in value. In addition, factors beyond Xazur Digital’s control may affect market liquidity for a particular Digital Asset, such as regulatory activity, market manipulation, or price volatility. Blockchain networks may go offline as a result of bugs, Forks (defined below), or a number of other unforeseeable reasons. As a general matter, we advise Users with limited trading experience and low risk tolerance not to engage in active trading. Speculating on the value of Digital Assets is high risk and Users should never trade more than they can afford to lose.
Understanding Digital Assets requires advanced technical knowledge. Digital Assets are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer science in order to appreciate inherent risks. Listing of a Digital Asset on Xazur Digital does not indicate approval or disapproval of the underlying technology regarding any Digital Asset and should not be used as a substitute for your own understanding of the risks specific to each Digital Asset. We give you no warranty as to the suitability of the Digital Asset traded under this Agreement and assume no fiduciary duty in our relations with you.
Users accept all consequences of sending Digital Assets to an address off our platform. Digital Asset transactions may not be reversible. Once you send Digital Assets to an address, you accept the risk that you may lose access to your Digital Assets indefinitely. For example, an address may have been entered incorrectly and the true owner of the address may never be discovered, or an address may belong to an entity that will not return your Digital Assets, or an address belongs to an entity that may return your Digital Assets but first requires action on your part, such as verification of your identity.Supply and value of Digital Assets
The ability for you to purchase Digital Assets using Xazur Digital is contingent on there being a counterparty willing to sell the same Digital Asset, which is outside of Xazur Digital’s control. Xazur Digital makes no promises as to the timing or availability of the ability to purchase Digital Assets via the platform.
The value of Digital Assets may be derived from the continued willingness of market participants to exchange Digital Assets for Digital Assets, which may result in the potential for permanent and total loss of value of a particular Digital Asset should the market for that Digital Asset disappear.
You acknowledge and agree that Digital Assets and/or Xazur Digital features available in one jurisdiction may not be available for trading or to access, as applicable, in another.Software protocols and operational challenges
The software protocols that underlie Digital Assets are typically open source projects, which means that
(i) the development and control of such Digital Assets is outside of Xazur Digital’s control and
(ii) such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of a given Digital Asset.
You are aware of and accept the risk of operational challenges. Xazur Digital may experience sophisticated cyber attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Services. You understand that the Services may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold Xazur Digital accountable for any related losses.Compliance
You are responsible for complying with applicable law. You agree that Xazur Digital is not responsible for determining whether or which laws may apply to your transactions, including tax laws. You are solely responsible for reporting and paying any taxes arising from your use of the Services.Legislative and regulatory changes
Legislative and regulatory changes or actions at the state, federal, national or international level may adversely affect the use, transfer, exchange, and value of Digital Assets.No deposit protection
Digital Assets held in your Account are not subject to deposit insurance protection, including without limitation, the Federal Deposit Insurance Corporation insurance or Securities Investor Protection Corporation protections or any equivalent schemes outside of the United States.Staking
Certain Digital Assets are built on protocols that support staking. If you hold these Digital Assets in your Account, Xazur Digital may stake these Digital Assets on your behalf. Staking subjects your Digital Assets to additional risks. Xazur Digital is not responsible for losses you may incur related to staking.12.FORKS & ADVANCED PROTOCOLS
As a result of the decentralized and open source nature of Digital Assets it is possible that sudden, unexpected, or controversial changes (“Forks”
) can be made to any Digital Asset that may change the usability, functions, value or even name of a given Digital Asset. Such Forks may result in multiple versions of a Digital Asset and could lead to the dominance of one or more such versions of a Digital Asset (each a “Dominant Digital Asset”
) and the partial or total abandonment or loss of value of any other versions of such Digital Asset (each a “Non-Dominant Digital Asset”
Xazur Digital is under no obligation to support a Fork of a Digital Asset that you hold in your Account, whether or not any resulting version of such forked Digital Asset is a Dominant Digital Asset or Non-Dominant Digital Asset or holds value at or following such Fork. If Xazur Digital elects, in its sole discretion, to support a Fork of a Digital Asset, it will make a public announcement through its Site and/or the App and/or by notifying customers via email, and shall bear no liability for any real or potential losses that may result based on the decision to support such Fork or the timing of implementation of support. If Xazur Digital, in its sole discretion, does not elect to support a Fork of a given Digital Asset, including the determination to support, continue to support, or cease to support any Dominant Digital Asset or Non-Dominant Digital Asset, Xazur Digital assumes no responsibility or liability whatsoever for any losses or other issues that might arise from an unsupported Fork of a Digital Asset.
Forks of Digital Assets can be frequent, contentious and unpredictable, and therefore cannot be consistently supported on Xazur Digital. When trading or holding Digital Assets using your Account you should operate under the assumption that Xazur Digital will never support any Fork of the supported Digital Asset.
Xazur Digital also does not generally support any other distributions, dividends, or “airdrops” of Digital Assets to wallet addresses (collectively, “Airdrops”) regardless of whether or not you would have received such Airdrops if you held your Digital Assets outside of Xazur Digital. Xazur Digital may, at its sole discretion, elect to distribute and/or support an Airdrop, but it has no obligation to do so and shall bear no liability to Users for failing to do so. If we do not support an Airdrop, we will not claim such Airdrop for our own benefit (unless it is unavoidable or impractical to avoid based on the means of distribution).
Certain Digital Assets are built to operate on the Ethereum or other protocols or are distributed to holders of Ethereum or other protocols without any action required by the User. As a general rule, Xazur Digital does not support Forks or Airdrops, but will notify Users if it intends to support a specific Fork, Airdrop, or other distribution or creation of a Digital Asset.
Note that in the event of a Fork of a Digital Asset, Xazur Digital may be forced to suspend all activities relating to such Digital Asset (including trading, depositing, and withdrawing) on Xazur Digital for an extended period of time until Xazur Digital has determined in its sole discretion that such functionality can be restored (“Downtime”). This Downtime will likely occur immediately upon a Fork of a given Digital Asset, potentially with little to no warning, and during this period of Downtime you will not be able to trade, deposit, or withdraw the Digital Asset subject to such Fork.13.ATTACKS ON BLOCKCHAIN NETWORKS
Xazur Digital does not have any ability to prevent or mitigate attacks on blockchain networks. Xazur Digital reserves the right to take the following commercially reasonable actions in the event of an attack: (i) if we are able to confirm that a Digital Asset active on Xazur Digital been compromised or is under attack, we may immediately halt trading, deposits, and withdrawals for such Digital Asset; (ii) if it is determined that such an attack caused the Digital Asset to greatly decrease in value, we may discontinue trade activity in such Digital Asset entirely. Xazur Digital does not have any obligation to engage in activity in relation to attacks on blockchain networks.
Resolutions concerning deposits, withdrawals and User balances for an attacked Digital Asset will be determined on a case-by-case basis by Xazur Digital in its sole discretion. Xazur Digital makes no representation and does not warrant the safety of Xazur Digital and you assume all liability for any lost value or stolen property.14.MARGIN TRADING
This section applies only to the extent you are permitted to engage in margin trading on the platform. Margin trading is prohibited in certain jurisdictions and you may not be able to engage in margin trading on the platform: you should refer to the Site for further details. Xazur Digital reserves the right to amend and/or remove margin trading functionality in your Country of Residence. You will receive reasonable advance notice of any such change.
Margin trading on Xazur Digital is HIGH RISK. As a borrower, you may sustain a total loss of Digital Assets or owe Digital Assets beyond what you have deposited to your Account. The high volatility and substantial risk of illiquidity in markets means that you may not always be able to liquidate your position. You agree to maintain a sufficient amount of Digital Assets at all times to meet Xazur Digital’s minimum balance requirements, as such requirements may be modified from time to time. If the value of the assets in your Account falls below the minimum balance requirement or Xazur Digital determines, at its sole discretion, that your Account appears to be in danger of defaulting on a loan, Xazur Digital may seize and liquidate any or all of your positions and assets on any balance in your Account in order to settle your debt to other Users. If, after your positions and assets are liquidated, your Account still contains insufficient Digital Assets to settle your debts to other Users, you will be responsible for any additional Digital Assets owed. Intentionally defaulting on a loan may result in Xazur Digital reporting your activities to authorities and/or in legal prosecution.
Xazur Digital may, in its sole discretion, perform measures to mitigate potential losses to you on your behalf, including, but not limited to, transferring balances from your margin to your exchange Account and/or from your exchange to your margin Account if, prior to any such transfer, any of your margin balance is a Digital Asset that Xazur Digital plans to delist from Xazur Digital in accordance with Section 25.
When you lend Digital Assets to other Users, you risk the loss of an unpaid principal if the borrower defaults on a loan and liquidation of the borrower’s Account fails to raise sufficient Digital Assets to cover the borrower’s debt. Although Xazur Digital takes several precautions to prevent borrowing Users from defaulting on loans, the high volatility and substantial risk of illiquidity in markets means that Xazur Digital cannot make any guarantees to any Users using the Services against default.
Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, if there is insufficient liquidity in the market or due to technical issues on our platform. Placing contingent orders, such as “stop-loss” or “stop-limit” orders, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders. The use of leverage can work against you as well as for you and can lead to large losses as well as gains. All Users understand that the technology underlying Digital Assets is subject to change at any time, and such changes may affect your assets stored on our platform. You claim full responsibility for monitoring such technological changes and understanding their consequences for your Digital Assets. Users conduct all trading, margin trading, lending, and/or borrowing on their own account and Xazur Digital does not take any responsibility for any loss or damage incurred as a result of your use of any Services or your failure to understand the risks involved associated with Digital Assets use generally or your use of our Services.15.LEVERAGED TRADING AND FUTURES
This Section applies only to the extent that you trade in leveraged or futures products on Xazur Digital. Leveraged and futures trading is prohibited in certain jurisdictions and you may not be able to engage in margin trading on the Xazur Digital platform. Please refer to the Site for further details. Xazur Digital reserves the right to amend and/or remove leveraged and futures trading for any Users at any time in its sole discretion. You will receive reasonable advance notice of any such change.
Trading in leveraged and futures products is HIGH RISK. The market price of any leveraged or futures product does not reflect the price of spot markets in the applicable underlying assets, and fluctuates significantly in response to the value of the underlying asset’s price, supply and demand, and other market factors. For instance, a small price decrease on a 100x leveraged product’s underlying digital asset could result in 100x loss in your leveraged position in the product. Further, leveraged products that target an inverse return will lose money when the price of the Digital Asset rises, a result that is opposite from holding the underlying asset. Under certain market conditions, particularly given the high volatility and illiquidity in cryptocurrency derivatives markets, you may find it difficult or impossible to close out a position. Placing contingent orders, such as “stop-loss” or “stop-limit” order, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.
As such, leveraged and futures products can lead to significant losses in a short period of time arising from relatively small market movements. They are complex financial derivatives which use leverage extensively, which entails significant risk, and which require initial and ongoing posting of collateral to ensure margin requirements are met. As such, leveraged and futures products are not suitable for all Users. It is designed to be utilized only by highly sophisticated Users, such as active traders employing dynamic strategies. Use extreme caution when trading these assets and trade them only if you understand how they work, including but not limited to the risks associated with the use of leverage, the consequences of seeking daily leveraged investment results, the risk of shorting, and the effect of compounding and market volatility risks on leveraged products. You may sustain a total loss of the initial margin funds and any additional funds deposited into your account on the Xazur Digital platform to maintain your positions. If the market moves against your position or margin levels increase, your position will be liquidated, and you will lose all of your funds.
USERS WHO DO NOT UNDERSTAND LEVERAGED TRADING, OR DO NOT INTEND TO ACTIVELY MANAGE THEIR PORTFOLIO, SHOULD NOT ENGAGE IN LEVERAGED OR FUTURES TRADING.
By trading in leveraged or futures products on the Xazur Digital platform, you acknowledge and agree that you have sufficient investment knowledge, financial expertise, and experience and the capacity to take on the increased risks arising from leveraged and futures trading. You further agree to independently assume all the risks arising from conducting leveraged and futures trading in your own account.
XAZUR DIGITAL DOES NOT TAKE ANY RESPONSIBILITY WHATSOEVER FOR ANY LOSSES OR DAMAGE INCURRED AS A RESULT OF YOUR USE OF ANY LEVERAGED OR FUTURES TRADING SERVICES OFFERED ON THE XAZUR DIGITAL PLATFORM OR YOUR FAILURE TO UNDERSTAND THE RISKS ASSOCIATED WITH LEVERAGED OR FUTURES TRADING.
YOU AGREE AND HEREBY AUTHORIZE XAZUR DIGITAL TO TAKE ANY MEASURES IN ITS SOLE DISCRETION, INCLUDING BUT NOT LIMITED TO, FORCED POSITION REDUCTION AND LIQUIDATION UNDER MARKET VOLATILITY, ILLIQUIDITY AND OTHER CIRCUMSTANCES, FOR THE PURPOSES OF PROTECTING USERS AND THE XAZUR DIGITAL PLATFORM.
You further agree to maintain in your Xazur Digital account a sufficient amount of assets to meet any margin requirements imposed by Xazur Digital with respect to leveraged and futures trading activities. For instance, if movements in the markets for a futures contract decrease the value of your position, you may be required to have or make additional collateral available as margin. Failure to maintain a sufficient amount of assets can result in the forced liquidation of digital assets in your account. Under volatile, illiquid or other market circumstances, the forced liquidation of digital assets in your account can occur without any notification. If the net asset value of your account falls below maintenance margin requirements, the digital assets in your account will be subject to forced liquidation to cover the margin deficiency. You also will be responsible for any shortfall in the account after such a sale. In the event where the market continues moving against open leveraged positions, the distress positions in your account can be liquidated and/or sold by transferring to backstop liquidity providers on the Xazur Digital platform through an auto-deleveraging process.
Leveraged and futures products may incur high portfolio turnover and rebalancing to manage the exposure to the underlying digital asset. High levels of transactions increase transaction costs. Each of these factors could have a significant negative impact on the performance of a leveraged or futures product.16.NON-WITHDRAWABLE ASSETS
From time to time, Xazur Digital may offer, enable or list for trading certain Digital Assets that may not be withdrawn by any Users from Xazur Digital (such assets, “Non-Withdrawable Assets”). You acknowledge, understand and agree that by buying, selling or otherwise trading in Non-Withdrawable Assets on Xazur Digital, you have no right whatsoever to withdraw, obtain or otherwise receive such Non-Withdrawal Assets from Xazur Digital or any third party. The trading of Non-Withdrawable Assets is solely for price discovery purposes and grants you no rights to the underlying Digital Assets. In addition, Xazur Digital may add or remove any Non-Withdrawable Assets, or convert a Non-Withdrawable Asset into a Digital Asset that can be withdrawn from Xazur Digital, at any time in its sole discretion. In the event that any Non-Withdrawable Asset is removed or converted into a Digital Asset that may be withdrawn from Xazur Digital, your sole remedy shall be limited, at Xazur Digital’s option, to (a) payment of the fair market value of such Non-Withdrawable Assets at the time of such removal or conversion, or (b) permitting you to receive that number of Non-Withdrawable Assets held within your Account at the time of such removal or conversion.17.RIGHT TO CHANGE OR REMOVE FEATURES AND SUSPEND OR DELAY TRANSACTIONS
We reserve the right to change, suspend, or discontinue any aspect of the Services at any time and in any jurisdiction, including hours of operation or availability of any feature, without notice and without liability. We may decline to process any order and may limit or suspend your use of one or more Services at any time, in our sole discretion. Suspension of your use of any of the Services will not affect your rights and obligations pursuant to this Agreement. We may, in our sole discretion, decline to process orders if (i) we believe the transaction is suspicious; (ii) the transaction may involve fraud or misconduct; (iii) it violates applicable laws; or (vi) it violates the terms of this Agreement. Where permitted by law, we will notify you by the end of the business day if we have suspended processing your orders and, if possible, provide our reasons for doing so and anything you can do to correct any errors leading to the stoppage.18.FEES
In consideration for the use of the Services, you agree to pay Xazur Digital the fees for completed trades, as set forth in our fee schedule displayed on the Site (“Fee Schedule”
), which Xazur Digital may revise or update in its sole discretion from time to time. On request, Xazur Digital may make available an alternative fee schedule (“Alternative Fee Schedule”
) to Users who satisfy certain criteria (such as in relation to trading volume), which are determined by Xazur Digital in its sole discretion from time to time. You authorize Xazur Digital to deduct any applicable fees from your Account at the time you make a given transaction. Changes to the fee schedule or Alternative Fee Schedule are effective as of the date set forth in any revision and will apply prospectively from that date forward.
You agree at all times to maintain a sufficient balance in your Account to meet any relevant withdrawal fees. We reserve the right to refuse to facilitate withdrawals of Digital Assets which fall below any applicable withdrawal fee.19.PROMOTIONS
Xazur Digital does not, as a general rule, participate in promotions without an official announcement, either on the Site, the App or elsewhere. You shall obtain prior written approval prior to releasing any statements, written media releases, public announcements and public disclosures, including promotional or marketing materials, relating to Xazur Digital.20.COPYRIGHT INFRINGEMENT
If you believe anything on the Site or on the App infringes upon any copyright which you own or control, you may file a notification of such infringement with our designated agent as set forth below.
Berkeley International Group Ltd.
care of Xazur Technologies India Private Ltd
c-177 First Floor, Fateh Nagar, New Delhi, 110018 India
Attn: Copyright Agent
Please see 17 U.S.C. § 512(c)(3) for the requirements of a proper notification. You should note that if you knowingly misrepresent in your notification that the material or activity is infringing, you will be liable for any damages, including costs and attorneys’ fees, incurred by us or the alleged infringer as the result of our relying upon such misrepresentation in removing or disabling access to the material or activity claimed to be infringing.21.ARBITRATION: WAIVER OF CLASS ACTION
If you have a dispute with Xazur Digital (a “Complaint”
), you agree to contact Xazur Digital through our support team to attempt to resolve any such dispute amicably. If we cannot resolve the dispute through the Xazur Digital support team (“Xazur Digital Support”), you and we agree to use the Formal Complaint Process set forth below.
You agree to use this process before filing any arbitration claim or small claims action. If you do not follow the procedures set out in this Section before filing an arbitration claim or suit in small claims court, we shall have the right to ask the arbitrator or small claims court to dismiss your filing unless and until you complete the following steps.
We will acknowledge receipt of your Complaint form after you submit it. A Xazur Digital customer relations agent (“Agent”) will review your Complaint. The Agent will evaluate your Complaint based on the information you have provided and information in the possession of Xazur Digital. Within 15 business days of our receipt of your Complaint form, the Agent will address the issues raised in your Complaint form by sending you an e-mail (“Resolution Notice”) in which the Agent will: (i) offer to resolve your complaint in the way you requested; (ii) make a determination rejecting your Complaint and set out the reasons for the rejection; or (iii) offer to resolve your Complaint with an alternative solution. In exceptional circumstances, if the Agent is unable to respond to your Complaint within 15 business days for reasons beyond Xazur Digital’s control, the Agent will send you a communication indicating the reasons for any delay in answering your Complaint, and specifying the deadline by which the Agent will respond to your Complaint, which will be no later than 35 business days from our receipt of your Complaint form.