Terms and Agreement
   2015/2/5 21:50:18

Prime Exchange Terms of Service (Terms)

 

PLEASE READ THESE TERMS OF SERVICE (TERMS) CAREFULLY. BY CLICKING THE “REGISTER ACCOUNT" BUTTON OR BY ACCESSING OR USING THE SERVICES, YOU AGREE TO BE LEGALLY BOUND BY THESE TERMS AND ALL TERMS INCORPORATED BY REFERENCE. IF YOU DO NOT AGREE TO BE BOUND BY THESE TERMS, DO NOT ACCESS OR USE THE SERVICES.


Prime Exchange reserves the right to change or modify the terms and conditions contained in these Terms, including but not limited to any policy or guideline of the Site, at any time and at its sole discretion. We will provide notice of these changes by posting the revised Terms to the Site and changing the "Last updated" date at the top of the Terms, or by emailing users at their provided email addresses, or by any other means as determined by Prime Exchange at its sole discretion. Any changes or modifications will be effective immediately upon posting the revisions to the Site or at the instant that Prime Exchange transmits the information. These changes will apply at that instant to all then current and subsequent uses of the Site. You waive any right you may have to receive specific notice of such changes or modifications. Your continued use of this Site acts as acceptance of such changes or modifications. If you do not agree to the Terms in effect when you access or use the Site, you must stop using the Site. We encourage you to frequently review the Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Services. If you have any question regarding the use of the Site, please contact support@prime-exchange.com

These Terms and any terms expressly incorporated herein apply to your access to, and use of, any services provided by Prime Exchange Limited (“Prime Exchange,” “we,” “us” or “our”), and, including but not limited to our websites located at https://www.prime-exchange .com(the “Site”) and mobile applications and the exchange services provided by us as described in these Terms (collectively, the “Services”). These Terms do not alter in any way the terms or conditions of any other agreement you may have with Prime Exchange for products, services or otherwise. If you are using the Services on behalf of any entity, you represent and warrant that (a) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization and (b) you are authorized to accept these Terms on such entity’s behalf and that such entity agrees to be responsible to us if you violate these Terms.

1. ELIGIBILITY AND PROHIBITION OF USING OUR SERVICES

Services are intended solely for users who are 18 or older. By accessing or using our Services, you represent and warrant that you are at least 18 years old and have not previously been suspended or removed from the Site or Services. You also represent and warrant that you are not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List. Also, Prime Exchange may not make all of the Services available in all markets and jurisdictions, and may restrict or prohibit use of all or a portion of the Services from Restricted Locations, which at this time include Cuba, Iran, North Korea, Syria, Sudan, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and United States of America. The content of this Agreement shall not be excluded from the laws of the country or region under which the user belongs. As a result, if you do not meet these eligibility requirements, do not use our Services.

2. DESCRIPTION OF OUR SERVICES

We provide an online digital asset trading platform to trade spot and other derivatives of digital assets (or also known as cryptographic tokens or digital tokens or cryptographic currency) and facilitate margin lending. Traders conduct trading on our platform with each other; Prime Exchange as the platform provider is not a buyer or seller in these trades. Traders must open an account and upload digital assets prior to commencement of trading. Traders may request the withdrawal of their digital asset, subject to the limitations as stated in the Terms.

While Prime Exchange has made every effort to ensure the accuracy of the information on our website, the information and content on the website is subject to change without notice and is provided for the sole purpose of assisting users to make independent decisions. Prime Exchange has taken reasonable measures to ensure the accuracy of the information on the website; however, we do not guarantee the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any Services or products available through the website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your inability to access the Web site, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through our platform. Prime Exchange will not have any liability for the use or interpretation of such information.

Users shall prepare devices and bear costs as follows: 1) internet-connected device, including but not limited to computer or other internet-connected terminals; 2) internet-accessing costs, including but not limited to internet fees, rental charges for internet-connected equipments, cellular data fees, etc.

While using the Services, you accept the information services provided by Prime Exchange. You hereby authorize Prime Exchange to send commercial information to you via e-mail, SMS, mailing address. You can opt out such services by changing relevant settings on the website.

You acknowledge and consent that the Services are provided by Prime Exchange according to its current technological capacity and other conditions. While Prime Exchange has made every effort to ensure continuity and security of the Services, we are unable to completely foresee and hedge legal, technological and other risks including but not limited to force majeure, virus, hacker attack, system instability, flaw in third-party services, act of government, etc. that may result in service interruption, data loss and other losses and risks.

When the system platform is unable to operate properly because of the following circumstances and the user is unable to use the services or place order, Prime Exchange assumes no liability for damages, including but not limited to: A. System downtime during maintenance as announced by Prime Exchange platform;

B. Telecom equipment is out of order and cannot transmit data;

C. Due to typhoon, earthquake, tsunami, flood, power failure, war, terrorist attacks and other force majeure factors, Prime Exchange platform system has obstacle so unable to carry out business;

D. Due to hacker attacks, computer virus intrusion or attack, the telecommunications sector technology adjustment or technical failure, web site upgrade, the banks' issue, a temporary close due to government regulation, which cause the network and the service's interruption or delay;

E. Losses due to technical problems that cannot be predicted or solved by the existing technical forces of the industry;

F. Damages to users or other third parties caused by third party's fault or delay.

For abnormal transactions, market interruption and other abnormal conditions caused by system failure, network failure, DDos and other hacker attacks and other unexpected factors, Prime Exchange has the right to cancel the abnormal transaction results, and rollback all the transactions of a certain period of time.

Fees may be incurred for part of the Services provided by Prime Exchange to its users. You shall abide by relevant agreements while use such services. Prime Exchange may change the fee models and structures of such services as the case may be. Prime Exchange may also start charging fees on free services. We shall release an announcement or put up a notice on respective page before the above-mentioned changes, modifications are made and starting to charge. You shall stop using the service if you disagree on the above-mentioned changes, modifications or paid content.

Prime Exchange shall not ask for any password from its users, nor shall we ask users to transmit any funds, bitcoins, litecoins and other cryptocurrency to bitcoin, litecoin and other cryptocurrency addresses that are not listed on the trading platform. Please do not trust any discount or promotion related information. Prime Exchange shall not be responsible for any losses caused by transmitting bitcoins, litecoins and other cryptocurrency, bitcoin, litecoin and other cryptocurrency addresses that are not listed on the trading platform.

Transaction abnormity handing: While using the Services, you agree and acknowledge the possibility of discontinuity and disruption of the Services due to connectivity problems of the digital asset networks or other force majeure. Users shall make sure to provide only correct information. Prime Exchange does not assume any responsibility of any losses caused by the above-mentioned situations due to users providing incorrect information that results in the inability for Prime Exchange to reach out to its users and explain the handling procedures.

You agree, in accordance with operational and security needs, Prime Exchange may suspend or restrict part of the Services, or start providing additional services. By continuing using the Services, after any changes, additions and deductions of the Services, you continue to agree to the Terms and any other Terms added subsequently.

Prime Exchange has the right to know the real transaction background and purpose of the users who use the product or service of Prime Exchange, users should provide the real, comprehensive, accurate information required by Prime Exchange; if Prime Exchange has reasonable grounds to suspect that the user has provided false trading information, Prime Exchange is entitled to restrict the user from the use of Prime Exchange's some or all products and services functions temporarily or permanently.

3. RISKS OF TRADING DIGITAL ASSETS

Trading of digital assets involves significant risk. The risk of loss in trading or holding digital assets can be substantial. You should therefore carefully consider whether trading in digital assets or any levered or derivative digital assets is suitable for you in light of your financial condition.

1. There is no assurance that the Prime Exchange trading market for digital assets will be orderly and stable. You should exercise prudence in trading in digital assets (as well as any other assets). Prices can and do fluctuate on any given moment. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any digital asset or trading position may be subject to large swings in value and may even become worthless.

2. The user of the service shall bear any losses resulting from the user or user's transaction instruction errors (including but not limited to price, quantity and other factors).

3. The user shall bear any loss resulted in his/her own fault or error, including but not limited to: not in accordance with the transaction prompts operation, not timely trading operations, forgetting or leakage of passwords, passwords are cracked, and/or the user's computer is invaded by others.

4. In the event of a potential loophole in the trading rules that unjustly enriches the user, we will contact the user to recover the gains. The user must effectively cooperate, otherwise, we will take actions, including, but not limited to restrictions on account transactions, freezing account funds, prosecution of the user in a court with right of jurisdiction and other recourse measures. In the event the user does not cooperate, the user will also bear recourse costs.

4. CREATING AN ACCOUNT

In order to use any of the Services, you must first register by providing your name, e-mail and password, along with affirming this Terms of Service. You agree to not enable anyone to use or direct your account, and to update Prime Exchange of any information change or if your account has been compromised. You are responsible for keeping, protecting and safeguarding any keys, certificates, passwords, access codes, user IDs or other credentials and login information (collectively "Passwords") that have been provided to you or that are generated in connection with your use of the Services. If you lose your Passwords, you may not be able to access your account. You agree to notify Prime Exchange immediately of any unauthorized use of your Passwords. Prime Exchange will not be responsible for any liabilities, losses, or damages arising out of the unauthorized use of your Passwords. Due to Prime Exchange’s nature of being an online trading platform, and to avoid potential security risks, the login password, administration password and any other passwords shall not be set as the same. Relevant responsibilities shall be borne by the users.

The user has the right to choose whether to become the Prime Exchange network's users. If users choose to become Prime Exchange registered users, they can create, modify their nicknames. Usernames and nicknames shall abide by relevant laws and regulations and also in accordance with the network morality. Usernames and nicknames cannot contain any words which related to insults, threats, obscene,abuse and other violations of the legitimate rights and interests of others.

Once the user is registered, and become the user of Prime Exchange network, he or she will get the username (user mailbox) and password, and is responsible for all activities and events with this username and password after entering the system, and bear all the legal liability directly or indirectly caused by the language and behaviours of the use of this username.

Users who lost their passwords can reset it after being verified through their registered email addresses or phone numbers. You shall immediately report to Prime Exchange if any unauthorized operations or security breaches are found.

5. USERS’ RIGHT AND LIMITATIONS TO LICENSE USE

We grant you a limited, nonexclusive, non-transferable license, subject to these Terms, to access and use the Prime Exchange website and Services, solely for approved purposes as permitted by Prime Exchange. You agree you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the Prime Exchange’s content.

You agree that

1. All right, title and interest in the Services and associated software, website and technology, including all intellectual property rights therein, are and shall remain with Prime Exchange;

2. No right or interest in the Services is conveyed other than the limited licenses granted herein; and

3. The Services are protected by the copyright and other intellectual property laws. All rights not expressly granted in these Terms are reserved.

4. This website has the right to inquire, freeze or deduct the items and accounts of the user in according to the requirements of any applicable judicial organizations, administrative organizations and military organizations, including but not limited to public security organizations, procuratorial organizations, courts, customs, tax authorities and so on.

5. Users have the right, in according to the relevant provisions of the site, after the release of information and other contributions, to obtain Prime Exchange’s reward;

6. The user has the right to modify the individual account and the information, choose their own nickname and enter the introductory text, to decide whether to provide non-essential items of content;

7. Users have the right to participate in Prime Exchange’s online and offline activities;

8. Users have the right to enjoy Prime Exchange’s other types of services according to Prime Exchange website requirements.

9. If you disagree or are unsatisfied on the changes of the Services, you shall exercise the rights below:

(1) Stop using the Services;

(2) Require termination of the Services Prime Exchange provided to you through customer support or other channels. After termination, your right to use the Services shall be terminated. Under such circumstances, Prime Exchange is no longer obligated to deliver any unprocessed information or unfinished services to its users or any other third parties without direct relationship.

6. USER OBLIGATIONS

1. User shall not use Prime Exchange to endanger national security or disclose state secrets. User shall not violate the national community and the legitimate rights and interests of citizens, and shall not use this site to produce, copy and disseminate the following information:

(1) Incitement to resist, undermine the implementation of constitution, laws and administrative regulations;

(2) Inciting subversion of state power and overthrowing the socialist system;

(3) Incitement to split the country and undermine national unity;

(4) incite national hatred, ethnic discrimination, destruction of national unity;

(5) Fabricating or distorting facts, spreading rumours and disturbing social order;

(6) To promote feudal superstition, obscenity, pornography, gambling, violence, murder, terror, abetting the crime;

(7) Blatantly insulting others or fabricating facts to slander others, or carry out other malicious attacks;

(8) Damage the credibility of state organizations;

(9) Other violation of constitutional and legal administrative regulations;

(10) To conduct commercial advertising behaviour.

2. the user shall not by any means maliciously register Prime Exchange website account, including but not limited to profit-making, speculation, cash out, winning and so on for the purpose of multiple account registration. Users may not use other user’s accounts.

If the user violates the above requirements, the Prime Exchange network has the right to take all necessary measures directly, including but not limited to deleting the content posted by the user, cancelling the customer's star rating, honour and virtual wealth, pausing or seizing the user's account, Illegal gains, and even through the form of action to prosecute the user legal responsibility.

3. Prohibit users in any form to utilize Prime Exchange network as the place, platform or media to engage in a variety of illegal activities. Without the authorization or permission of the Prime Exchange Network, the User shall not use any of the commercial activities in the name of this site or in any form of the Prime Exchange network as a place, platform or medium for engaging in commercial activities.

If the user violates the above requirements, the Prime Exchange network has the right to take all necessary measures directly, including but not limited to deleting the content posted by the user, cancelling the customer's star rating, honour and virtual wealth, pausing or seizing the user's account, Illegal gains, and even through the form of action to prosecute the user legal responsibility.

4. All the information released in all forms by the user in Prime Exchange network should comply with national laws and regulations and other relevant provisions of the relevant provisions of the site, in line with social order and vulgar, does not infringe the legitimate rights and interests of any third party, or the user shall bear the responsibility of all the legal consequences by themselves, and if Prime Exchange therefore suffered losses, Prime Exchange has the right to recover from the user.

7. SERVICE FEES

1. The company has the right to set user service charges according to the appropriate rules. Prime Exchange also has the right to formulate and adjust the service fee, and set specific service charges to the user to use Prime Exchange services.

2. Unless otherwise stated or agreed, the user agrees that the Prime Exchange network has the right to deduct the above-mentioned services directly from the assets of the user account.

8. CHANGE OF SERVICE, INTERRUPTION, TERMINATION, RESTRICTION, FREEZING

1. Prime Exchange may change the service content and/or may also interrupt, suspend or terminate the service.

2. At the time of transfer, Prime Exchange may transfer the relevant assets under this service to a third party; Prime Exchange may also transfer part or all of the services under this agreement to a third party to operate or fulfil after our unilateral notice. The specific transferee is subjected to Prime Exchange’s notice.

3. In any of the following circumstances, Prime Exchange reserves the right to discontinue or terminate the services provided to you without notice, including in the following cases:

(1) If the personal information you have provided is not true, or inconsistent with the information at the time of registration and failed to provide reasonable proof (please remember, according to the laws or regulations you should submit the true information);

(2) If you violate the relevant laws and regulations or this agreement;

(3) If required by any provisions of the laws and regulations, as well as the requirements of the competent government authorities; and/or

(4) If for security reasons or other necessary circumstances.

4. Prime Exchange has the right to charge any fees or outstanding due in accordance with this agreement. If you do not pay in full and on time, Prime Exchange reserves the right to interrupt, suspend or terminate the service.

5. You may close your account at any time. You will still be obligated to fulfil your responsibilities on any pending transactions. In addition, you are responsible to Prime Exchange for any fees incurred before the closure. Prime Exchange may also terminate your account at any time and at our sole discretion, upon notice to you by email or other communication. Prime Exchange may also suspend your access to the Services if it suspects that you have failed to comply with these Terms, pose an unacceptable fraud or regulatory risk to Prime Exchange, or if you provide any false, incomplete, inaccurate or misleading information. Prime Exchange will not be liable to you for any losses incurred in connection with Prime Exchange's closure or suspension of your account.

6. You agree, to safeguard the security of your account and the digital assets within, Prime Exchange reserves the rights to freeze part or all of your assets (or in other words, to restrict you from accessing part or all of the Services) under the circumstances that Prime Exchange thinks your account is exposed to potential risks according to these Terms, laws, regulations, legal instruments, government requests dependent on administrative functions and powers and other conditions that Prime Exchange thinks fit. The reverse process is called “unfreeze”, which means Prime Exchange stops freezing the frozen account. Prime Exchange reserves the right to determine whether to unfreeze partially or wholly when users request to unfreeze. You shall fully understand the request to unfreezing account may not be necessarily accepted, and before unfreezing the account, you shall cooperate with us on identity verification or other relevant requirements, and provide including but not limited to identity information, identity card, passport, other valid identity documents and other documents or information required by us.

9. PRIVACY POLICY

Prime Exchange respects the privacy of its users. The Prime Exchange Privacy Policy, available separately, describes how Prime Exchange collects, stores, discloses and uses information that pertains to Your privacy. You consent to Prime Exchange’s use of your information under the terms of the Prime Exchange’s Privacy Policy.

Prime Exchange’s users’ information in these Terms means information that is in compliance with laws and regulations and conforms to the following scopes.

1. Information provided to Prime Exchange by users during account creation.

2. Automatically recorded information (including but not limited to IP address, cookies, browsing history, etc.) while users accessing the Services through website and mobile apps.

3. Information legally acquired from business partners.

4. Information acquired through other legal channels.

Prime Exchange undertakes that we will not disclose any name, password, phone number and other information to any third party without acquiring user’s permission beforehand or legal causes.

1. User information will be partially or wholly disclosed under below circumstances accord to legal requirements.

2. Required by user, disclose to user himself/herself or other third parties; Required by administrative and judicial authorities, and other third parties as prescribed by law, according to laws and regulations;

3. Other disclosure according to laws and regulations.

10. INDEMNITY

You shall indemnify Prime Exchange and our agents (if any), employees, officers, directors, affiliates, subsidiaries and successors, and hold them harmless from and against all third-party claims except those resulting solely from Prime Exchange’s breach of these Terms. Similarly, Prime Exchange shall indemnify and hold harmless you and your agents, employees, officers, directors, affiliates, subsidiaries and successors from and against all third-party claims except those resulting solely from your breach of these Terms.

11. REFUSAL TO GUARANTEE AND DISCLAIMER

1. Prime Exchange network, as a third party platform for "network service provider", does not guarantee the information and services provided in this the site platform can fully meet the needs of users. Prime Exchange.com shall not be liable for errors, insults, defamation, nonfeasance, obscenity, pornography, or blasphemy that may occur during the process of acceptance of the Prime Exchange web service.

2. Based on the special nature of the Internet, Prime Exchange network does not guarantee that the service will not be interrupted, and the timeliness of the service, security is also not guaranteed, and Prime Exchange network do not bear the responsibility which is not caused by Prime Exchange network.

Prime Exchange network tries to provide a safety network environment to the users; however, Prime Exchange network does not guarantee that the site or its servers are free of viruses or other potentially harmful factors; therefore, the user should use the industry's recognized software to check and kill any virus in the files downloaded from Prime Exchange network.

3. Prime Exchange network is not responsible for the failure of preservation, modification, deletion or storage of the information released by the user. Nor will Prime Exchange network be liable for the typographical errors, negligence, etc. not intentionally caused by Prime Exchange network.

Prime Exchange net has the right but no obligation to improve or correct any omission, error of any part of this site.

4. Unless the Prime Exchange network is expressly agreed in writing, the Prime Exchange Network shall not guarantee the accuracy, completeness, reliability of any content, such as, but not limited to, advertising from the Site in any manner (including but not limited to, containing, connecting, by way of, or downloading) from the Site; Prime Exchange network is not responsible for any products, services, information or materials purchased or obtained by the user according to the content information on this website. The user bears the risk of using the content of this website.

5. The user comments published by users in Prime Exchange network, are only on behalf of the user's personal point of view. It does not mean that this site agrees with their views or confirm their description. This site does not bear any legal responsibility caused by any user comments.

6. Prime Exchange has the right to delete all types of information which does not meet the requirements of the laws or agreement, and Prime Exchange retains the right not to inform the user.

7. In regard to notices issued to the users, Prime Exchange will deliver these notices through a formal page announcement, station letter, e-mail, customer service phone call, SMS or regular mail delivery. Prime Exchange network does not bear any legal responsibility for any winning, discount activities or information which are delivered not by above channels.

8. Prime Exchange has the right to adjust the recharge, commission, transaction and other fees according to market conditions, and have the right to decide the termination of the free promotion period.

12. APPLICABLE LAW AND VENUE

These Terms and your use of the Services will be governed by and construed in accordance with the legislation of British Virgin Island, without resort to its conflict of law provisions. You agree that any action at law or in equity pursued by you and arising out of or relating to these Terms not subject to arbitration (as set forth below) will be filed only in British Virgin Island and you hereby irrevocably and unconditionally consent and submit to the exclusive jurisdiction of such courts over any suit, action or proceeding arising out of these Terms.

13. ARBITRATION

You and Prime Exchange agree to arbitrate any dispute arising from these Terms or relating to the Services, except that you and Prime Exchange are not required to arbitrate any dispute in which either party seeks equitable or other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL. You and Prime Exchange agree that you will notify each other of any dispute within thirty (30) days of when it arises, that you will attempt informal resolution prior to any demand for arbitration, that any arbitration will occur in British Virgin Island and that arbitration will be conducted confidentially by a single arbitrator. You and Prime Exchange also agree that the courts in British Virgin Island have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration. In any arbitration, the parties will not seek discovery from each other, and the arbitrator shall not allow parties to engage in discovery; rather, each party shall disclose the evidence supporting their positions at some mutually agreeable time and date prior to the final hearing. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Neither you nor we will participate in a class action or class-wide arbitration for any claims covered by these Terms. You also agree not to participate in claims brought in by a private attorney general or representative capacity, or consolidated claims involving another person, if Prime Exchange is a party to the proceeding. If the prohibition against class actions and other claims brought on behalf of third parties contained above is found to be unenforceable, then that language shall be deemed to have been dropped from these Terms and the remaining obligations relating to arbitration shall continue in full force and effect.

14. SEPARABILITY

If any provision of this Agreement is deemed to be unlawful, invalid or unenforceable for any reason, such provision shall be deemed to be divisible and shall not affect the legal effect of any other provision.

15. COMPLAINTS

If you have any complaints, feedback or questions, please contact our Customer Service at support@prime-exchange.com. When you contact us please provide us with your name and email address and any other information we may need to identify you, and the transaction on which you have feedback, questions, or complaints. 

16. MISCELLANEOUS

These Terms set forth the complete understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings and communications relating thereto. No term or condition of any other document provided to Prime Exchange which is different from, inconsistent with, or in addition to the terms and conditions set forth herein will be binding upon Prime Exchange. You represent and warrant that all information disclosed to Prime Exchange in connection with these Terms are true, accurate and complete.