GEM EXCHANGE & TRADE

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TERMS AND CONDITIONS OF USE

1. Introduction

These Terms and Conditions of Use (“this Agreement”) govern the User’s use of the digital Wallet provided by GXT PLATFORM INC, a company incorporated in and according to the laws of the British Virgin Islands, and the GXTT cryptocurrency connected with such use.

2. Definition

The following terms bear the respective meanings ascribed to them below within this clause. “GXTT” refers to the cryptocurrency issued by the Company in connection with the User’s use of the digital Wallet provided by the same. “The Wallet” refers to the digital wallet used to store purchased GXTT. “The Services” refers to both GXTT and the Wallet as a collective. “The User” refers to the user of the Services who is privy to this Agreement. “The Company” refers to GXT PLATFORM INC, a company incorporated in and according to the laws of the British Virgin Islands, and the provider of the Services.

3. Covenants

  • 3.1.
  • The User has read and familiarised themself with the terms of this Agreement, and accepts the same. Upon completing their registration as a user of the Services (“User Registration”), the User is automatically deemed to have accepted the terms of this Agreement.
  • 3.2.
  • All Users must abide by the terms of this Agreement in their use of the Services. A User Registration is null and void to the extent that the registered User does not accept the terms of this Agreement, and the User is not entitled to use the Services to the same extent. The User’s acceptance of the terms of this Agreement is indicated by filling in the checkbox labelled “I agree” in the User Registration form, or using a similar function.
  • 3.3.
  • This Agreement binds the User upon their acceptance of the same. Any subsequent updates to this Agreement also binds the User, and the User undertakes to periodically check for these updates on the Company’s website.
  • 3.4.
  • The English version of this Agreement is the original version, and takes precedence over all other versions. All other versions in any language are to be interpreted based on the English version. Notwithstanding this, the User undertakes to familiarise themself with the terms of this Agreement in the language most familiar to them. The User is deemed to have familiarised themself with the terms of this Agreement upon the acceptance of a different version of this Agreement, and the terms of this Agreement will bind them.
  • 3.5.
  • The terms of this Agreement take precedence over any laws and regulations applicable in the domicile of the User.

4. Amendments to this Agreement

  • 4.1.
  • The Company may alter and/or amend this Agreement and/or its terms as the Company deems necessary.
  • 4.2.
  • The Company will make a notification to all Users through the Wallet seven (7) days before any alteration and/or amendments to this Agreement and/or its terms take effect.
  • 4.3.
  • The User is deemed to have accepted any such amendments and/or alterations by their continued use of the Services after such alterations and/or amendments take effect, in the absence of an express disagreement with such alterations and/or amendments before the same take effect.
  • 4.4.
  • The Company may limit the User’s access and/or use of the Services should the User not accept such alterations and/or amendments.


5. Implied Terms

All other terms other than those expressed in this Agreement are to be regulated and construed according to the laws and regulations of the British Virgin Islands.

6. User Agreement

  • 6.1
  • This Agreement is completed by the User’s provision of data in the mandatory fields of the User Registration form and their acceptance of the terms of this Agreement on the Company’s website.
  • 6.2
  • The User warrants that all information provided through the User Registration form is accurate and complete. Should the User fail to provide such accurate and complete information, the Company may limit the User’s access and/or use of the Services.
  • 6.3
  • The Company may request for further information and/or documents from the User even after the completion of User Registration.
  • 6.4
  • The User warrants that all information provided at the time of User Registration is true.
  • 6.5
  • The User agrees to waive all legal recourse and that the Company may limit their access and/or use of the Services should they have provided information which is false and/or misleading in any particular. In such a case, the Company reserves the absolute discretion to suspend or terminate this Agreement as it sees fit.
  • 6.6
  • Each User is only entitled to create one (1) account for the use of the Services. The User undertakes not to create multiple accounts without the approval of the Company, and agrees that the Company may limit their access and/or use of the Services should they have created multiple accounts without the Company’s approval.


7. Provision of the Services

  • 7.1.
  • The details of the Services are as follows:-
  • 7.1.1.
  • Purchase of GXTT: the User may purchase GXTT using the Wallet without any recourse to any refund.
  • 7.1.2.
  • The Wallet: the User may store GXTT in the Wallet for safekeeping.
  • 7.1.3.
  • Any other services the Company deems to be necessary for the improvement in the quality of the Services.
  • 7.1.4.
  • Exchange: the User may exchange GXTT for any cryptocurrency prescribed as eligible by the Company, or for any tangible or intangible property. However, the Company does not make any warranty or representation regarding the monetary or non-monetary value of any property exchanged for. Moreover, any such exchange is at the sole election of the User, but the Company reserves the right to alter and/or amend the selection of property available for exchange according to the terms of this Agreement.
  • 7.2.
  • The Company reserves the right to alter and/or amend the contents of the Services according to its exigencies and circumstances.
  • 7.3.
  • The User confirms and agrees to the following terms:-
  • 7.3.1.
  • All digital systems are subject to alteration and/or amendment at the time that this Agreement is accepted, and circumstances of the use of the Services may change due to improvements in technology and/or other unforeseen factors.
  • 7.3.2.
  • GXTT has a risk of depreciation, and the User may lose the value of any sums that they have expended on the same. The User bears the responsibility of weighing the risk of purchasing GXTT. The Company is not responsible for any loss arising from any change in value of GXTT resulting from any exigencies of the Company.
  • 7.3.3.
  • All Users acknowledge the risk that the value of GXTT is subject to change in accepting the terms of this Agreement.


8. Suspension of the Wallet

  • 8.1.
  • The Company may temporarily suspend the use of the Wallet, for system updates to improve security systems and/or other technical reasons, by issuing a notice in advance of such a suspension.
  • 8.2.
  • In order to protect the User’s cryptocurrency, the Company may suspend the use of a User’s Wallet where there is a risk of suspicious transactions and/or hacking. In such an event, the Company will provide the reasons for such a suspension, and information on follow-up measures to the User.
  • 8.3.
  • The Services may be amalgamated with any other partner services according to separate agreements for such amalgamation as the Company deems necessary.
  • 8.4.
  • Not logged in for more than 3 months Accounts and assets are converted to dormancy.


9. Features of the Wallet

  • 9.1.
  • The Wallet may be used for the purchase and use of GXTT, and the permissible use of such functions are limited to the purchase and storage of GXTT. The Wallet also provides information on the value of stored GXTT to the User.
  • 9.2.
  • The exchange process and interface may be altered and/or amended to accurately reflect the methods of exchanging GXTT for other cryptocurrencies designated by the Company, or any tangible and/or intangible property.
  • 9.3.
  • In the event of damage to the database, other similar exigencies, or situations beyond the control of the Company, the Company may designate a specific time for the recovery of the system at its discretion.


10. Compliance with Applicable Laws and Regulations

  • 10.1.
  • The Company owes a duty to provide the Services to a User who accepts the terms of this Agreement only. The Company is not liable in respect of any services, provided by any partners or other third parties, other than the Services.
  • 10.2.
  • GXTT must be transacted and used in accordance with the terms of this Agreement and the laws of each country. The Company owes no duty to issue or sell GXTT in furtherance of any non-compliant transaction, nor any responsibility for any loss and/or damage resulting from the same.
  • 10.3.
  • The Company does not transact GXTT with cash, or exchange GXTT for any cash.
  • 10.4.
  • The Company neither warrants nor represents that it will increase GXTT’s value.


11. Suspension and Termination of Agreement

  • 11.1.
  • The User may personally apply to the Company to terminate this Agreement. Such an application may not be made through an agent or a representative. To evaluate the reasons for termination, the Company may request for additional documents from the User. The Company will not be responsible for any loss related to the termination of this Agreement.
  • 11.2.
  • The Company reserves the right to suspend or terminate this Agreement and its ancillaries in any of the following situations:-
  • 11.2.1.
  • Where the User is adjudged to be involved in any unauthorised activities;
  • 11.2.2.
  • Possession of multiple accounts without the Company’s approval;
  • 11.2.3.
  • Use of the Services to disrupt, disable, overload, or otherwise damage the Company’s servers in the following ways:-
  • 11.2.3.1
  • Sending massive volumes of information to disrupt the stability of the Services;
  • 11.2.3.2
  • Repeated and persistent sending of advertising material;
  • 11.2.3.3
  • Widespread distribution of viruses and/or other forms of malware to cause the malfunction of the Services, and/or destruction and/or damage to data;
  • 11.2.3.4
  • Other similar methods of damage;
  • 11.2.4.
  • Copying of data obtained through using the Services without the Company’s written consent, or commercial usage of the Services;
  • 11.2.5.
  • Infringing the intellectual property or other exclusive rights of the Company or other third parties;
  • 11.2.6.
  • Non-compliance with the terms of this Agreement; and
  • 11.2.7.
  • Illegal or inappropriate conduct on the part of the User.
  • 11.3.
  • Upon the termination of this Agreement, the property rights in the User’s Wallet and its contained cryptocurrencies will automatically vest in the Company. The User will not be entitled to any resultant compensation, and the Company bears no responsibility for the same.
  • 11.4.
  • In any limiting of the access and/or use of the Services, the Company undertakes to communicate the reasons, dates, effective periods, and other related information regarding such limitations to the User through telephone, electronic mail, and/or messages on the Company’s online interface.
  • 11.5.
  • The Company may limit the use of the Services without following the procedure in clause 11.4 above where it perceives an emergency need to do so.
  • 11.6.
  • Any User notified of their suspension may raise an objection to the same and provide clarification in support of their objection.
  • 11.7.
  • The Company is obliged to lift any such suspension where it confirms that the reasons for the suspension have expired.
  • 11.8.
  • The Company must delete the User’s User Registration when terminating this Agreement, and inform the User of the same before such deletion. The Company may also refuse to re-register the same User.


12. Protection of Personal Information and Data

  • 12.1.
  • The Company endeavours to its reasonable best to protect the User’s personal information and data provided for the purposes of and relating to the Services.
  • 12.2.
  • The User agrees to the Company’s collection, use, and disclosure of any personal data and other information provided to the Company.
  • 12.3.
  • The Company will guard and handle personal information and data according to its Personal Data Protection Policy.


13. User’s Duties

  • 13.1.
  • The User must comply with the terms of this Agreement, the Company’s policies, and all applicable laws and regulations.
  • 13.2.
  • The User must not undertake any action which poses a risk of malfunctioning or disconnecting the server, network, or other facilities on which the Services are hosted.
  • 13.3.
  • The User bears responsibility for any loss caused to the Company by the User’s illegal conduct, dissemination of falsehoods, and/or other related conduct.


14. Account Security

  • 14.1.
  • The User has a duty to securely and confidentially guard their account information.
  • 14.1.1.
  • The User will not use an ID or password which is easily deciphered or inferred by third persons, or disclose their ID or password to third persons. The User also undertakes to periodically change their password. The Company will not be responsible for any problems arising from the User’s negligent conduct.
  • 14.1.2.
  • The User must prevent other Users from accessing the first User’s account, and maintain the security of the same.
  • 14.2.
  • Regardless of the extent of the User’s control over their account, the User must bear full responsibility for all their actions, and indemnify the Company from expenses, damages, and/or other liabilities arising from the access or use of their account by third parties.
  • 14.3.
  • All actions taken using the User’s account on the Company’s website are deemed as the actions of the User.
  • 14.4.
  • The User must inform the Company where the User knows or suspects that a third party knows the User’s ID or password, and comply with the Company’s follow-up instructions. The Company will not be responsible for any inconvenience resulting from non-compliance with this clause.


15. Change to the Services

  • 15.1.
  • The Company will inform of any change to the content of the Services through the Wallet.
  • 15.2.
  • The Company may inform of any changes to the features and/or procedures related to the Services through notifications and pop-ups in the Wallet. The Company is not responsible for any loss resulting from failure to view such information.
  • 15.3.
  • The Company may change or suspend all or part of the Services for business (such as changes to this Agreement) or technical exigencies. In such an event, the Company is not liable for any resultant compensation to the User.


16. Provision and Disruption to the Services

  • 16.1.
  • The Company generally provides the Services to the User for 365 days in a year and 24 hours in a day.
  • 16.2.
  • Despite clause 16.1 above, the Company may suspend the Services in the situations enumerated below within this clause 16.2. In such cases, the Company will inform the User of the same through a message or a pop-up in advance. However, the Company may suspend the Services in an emergency situation without such advance notice, but will endeavour to inform the User of the same at the soonest possible opportunity.
  • 16.2.1.
  • General inspection of facilities associated with providing the Services where system repair or maintenance is required;
  • 16.2.2.
  • Disruption of the regular use of the Services due to explosive growth in such use;
  • 16.2.3.
  • The Company may freeze the Wallets of Users in a particular country where the law enforcement, government, or other official authorities of that country request an investigation in connection with actual or suspected illegal conduct. The Company may also terminate the provision of the Services in that country in such a case.
  • 16.2.4.
  • Force majeure, and other incidents, situations, or causes beyond the Company’s control, including but not limited to the following:-
  • 16.2.4.1.
  • Power outages, or instability and/or disruption to shared or personal networks;
  • 16.2.4.2
  • Suspension of the Services pursuant to any law, regulation, or lawful and authoritative instruction in the British Virgin Islands;
  • 16.2.4.3
  • Strikes and other related industrial actions;
  • 16.2.4.4
  • Terrorism, riots, wars, and other national emergencies; and
  • 16.2.4.5.
  • Various kinds of natural disasters.


17. Service Fees

There will be a service fee charged according to policies set by the Company.

18. Responsibility of the Company

The Company endeavours to its reasonable best to comply with this Agreement and applicable laws, and to ensure stability of the Services. The Company is liable for any loss to the User resulting from the Company’s breach of this Agreement to the extent that such liability is reasonable and within its capacity.

19. Jurisdiction

The User must comply with all laws applicable to it in its domicile, based on this Agreement. The Company will not be responsible for any dispute based on the laws of the User’s domicile. Disputes relating to the Services, or arising between the User and the Company are to be submitted to the jurisdiction of a forum of the Company’s election.



Supplementary Provisions
This Agreement is applicable from 1 August 2019.