Change Digital

Terms of Use

Change Digital Commerce, Inc.

General Terms & Conditions

 

Last Modified: 2nd February, 2023

 

The General Terms and Conditions (hereinafter “Agreement” or “Terms and Conditions”) constitute the main set of Change Digital Commerce, Inc. (“CDC”) terms and conditions for the provision and use of CDC services and products, including Change Tokens (as defined herein). They apply to each electronic form or contract executed by users and/or members who use CDC services and products, including Change Tokens. The provisions of this Agreement will govern your use of any of CDC’s services and products, including Change Tokens, and you should therefore take some time to read this Agreement carefully.

 

By using our services and products, including Change Tokens, you: (A) represent and warrant that: (i) you have reached the age of 18, (ii) you have the capacity to enter into binding obligations, and (iii) all information supplied by you to us is true, accurate, current and complete; (B) agree to be bound by and comply with our Terms and Conditions, as updated from time to time; and (C) agree to be bound by and comply with the terms and conditions policies of our third party partners, for example, digital wallet providers and our Regulated Trustees (as defined below). If you are using our services and products on behalf of a corporate entity, you represent and warrant that you have the authority to bind such entity to these Terms and Conditions.

 

Should you have any questions or comments regarding CDC, the Site, the Platform, or the Services, please feel free to contact us at: [email protected].

 

  1. PRELIMINARY PROVISIONS

 

    1. Acceptance of the Terms and Conditions

 

This Agreement governs your access to and use of: (a) our proprietary platform that facilitates the issuance and redemption of digital tokens which are referred to as “Change Tokens,” in exchange for fiat currency and other assets (the “Platform”); (b) any digital asset wallet made available through the Platform for the storage of property represented in digital token form on a blockchain or other distributed ledger technology (the “Wallet”); and (c) all other products or services provided by us to you in connection with the foregoing. These Terms and Conditions form an agreement between CDC , its affiliate, Change Digital Reserves, LLC and their respective subsidiaries (collectively “CDR”) and you. The term “you,” “user,” and “client” refer to the person or entity accessing or otherwise using the Platform (“use” or “using” in these Terms and Conditions will mean any of the foregoing). By using the Platform, or by clicking to accept or agree to the Terms and Conditions when this option is made available to you, you accept and agree to be bound and abide by these Terms and Conditions and our Privacy Policy, incorporated herein by reference. If you do not agree to these Terms and Conditions or the Privacy Policy, do not access or use the Platform.

 

    1. Definitions

 

“Account” means a Customer’s account with CDC.

 

“CDC,” “Us” or “We” means, Change Digital Commerce, Inc., a Delaware corporation.

 

“CDR” means, Change Digital Reserves, LLC, a Delaware limited liability company, and an affiliate of CDC.

 

“Change Tokens” means any fiat currency denominated stablecoin issued by CDC.

 

“Change-USD” means the US dollar-denominated stablecoin issued by CDC.

 

“Customer” means a User who registers with CDC to purchase or redeem Change Tokens. Not all Users will become Customers.

 

“Materials” means, collectively, the images and content on the Site, including, but not limited to, text, software, images, graphics, data, messages, or any other information, and any other website content owned, operated, licensed or controlled by CDC.

 

“Party” means each of CDC and you.

 

“Platform” means the online software platform operated by CDC for the issuance and redemption of Change Tokens.

 

“Services” means any of the services, functions and/or features offered on the Site and the Platform.

 

“Site” means any websites with domains including and under “www.changedigital.cash”.

 

“Trustees,” or “Regulated Trustees” means our regulated trustee partners, including banks and other financial institutions.

 

“User” or “You” means someone who accesses the Site or the Services in any way.

 

    1. Intent to be Bound; Consult with Lawyer

 

THIS AGREEMENT IS A LEGAL CONTRACT BETWEEN YOU, CDC AND ITS AFFILIATES. YOU SHOULD TREAT IT AS ANY OTHER LEGAL CONTRACT BY READING ITS PROVISIONS CAREFULLY, AS THEY WILL AFFECT YOUR LEGAL RIGHTS. BY ACCESSING THE SITE, PLATFORM, OR USING THE SERVICES IN ANY MANNER, YOU ARE DEEMED TO HAVE READ, UNDERSTOOD AND AGREED TO BE BOUND BY ALL OF THE TERMS CONTAINED IN THIS AGREEMENT. YOU MAY NOT PICK AND CHOOSE WHICH TERMS APPLY TO YOU. IF YOU DO NOT AGREE WITH ALL OF THE TERMS IN THIS AGREEMENT, YOU MUST CEASE ALL ACCESS AND USE OF THE SITE, PLATFORM, AND ANY OTHER SERVICES PROVIDED BY CDC. NOTHING IN THIS AGREEMENT IS INTENDED TO CREATE ANY ENFORCEMENT RIGHTS BY THIRD PARTIES, INCLUDING ANY RECIPIENT OF CHANGE TOKENS THAT DOES NOT BECOME OUR CUSTOMER.

 

IF YOU DO NOT UNDERSTAND ALL OF THE TERMS AND CONDITIONS IN THIS AGREEMENT, YOU SHOULD CONSULT WITH A LAWYER BEFORE USING THE SITE, PLATFORM OR THE SERVICES.  

 

    1. Consideration

 

Consideration for your acquiescence to all of the provisions in this Agreement has been provided to you in the form of allowing you to use our Site, Platform, and our Services. You agree that such consideration is adequate and is received upon your viewing or using any portion of any of our Site, Platform, and/or Services.

 

    1. Electronic Signatures / Assent Required

 

    1. You manifest your agreement to this Agreement by taking any act demonstrating your assent thereto. Customers are required to click a checkbox adjacent to and associated with the words “I agree” or some similar language to accept these Terms and Conditions. If you click any link, button or other device provided to you in any part of our Site’s interface, then you have legally agreed to all of these Terms and Conditions. Additionally, by using any part of our Site or Services in any manner, you understand and agree that such use constitutes your affirmation of your complete and unconditional acceptance to all of the terms in this Agreement.

 

      1. Even if you fail to indicate your agreement to this Agreement, you understand and agree that you are still bound by the terms of this Agreement by virtue of your viewing the Site or using any portion of the Site, Platform, or our Services.

 

    1. Illegal Activities

 

By your use of any portion of the Site, the Platform or the Services, you represent that such use is legal in your local jurisdiction, and you agree that you will not use the Site, the Platform or the Services if such use is prohibited or otherwise violates the laws of the country, state, province, or other jurisdiction in which you reside or of which you are a citizen.  

 

Notwithstanding the foregoing, use of the Site, the Platform and the Services by residents of New York State is strictly prohibited.

 

    1. Revisions to This Agreement

 

    1. From time to time, we may revise this Agreement. We reserve the right to do so, in our sole and absolute discretion, and you agree that we have this unilateral right. Your continued use of the Site, Platform, or the Services shall be deemed acceptance of the then prevailing terms and conditions of this Agreement. You agree that all modifications or changes to this Agreement are in force and enforceable immediately upon posting. Any updated or edited version supersedes any prior versions immediately upon posting, and the prior version is of no continuing legal effect unless the revised version specifically refers to the prior version and explicitly states that the prior version (or portions thereof) will remain in effect.

 

      1. We agree that if we make any material changes to this Agreement, we will send Customers an email or written notification regarding the changes and include an updated version of this Agreement on our web page. The updated version of the Agreement will include a new “last modified” date at the top of the Agreement in order to identify the then-currently applicable Agreement. Following receipt of such a notice and the posting of the updated version of the Agreement on our web page, please re-review the Agreement in order to ensure that you understand how your rights and responsibilities may have been affected by the revisions.

 

      1. It is your responsibility to review this Site, Platform, and Agreement on a regular basis. If you object to any such changes, your sole recourse will be to cease access to the Site, Platform, or the Services.

 

    1. Incorporation by Reference

 

Although this Agreement represents the primary terms and conditions with respect to our Site, Platform, and the Services, certain additional guidelines and rules are hereby incorporated by reference. These documents, including the (i) Privacy Policy and (ii) Anti-Money Laundering/Know Your Customer disclosure, can be found on our Site and are specifically incorporated by reference and form an integral part of this Agreement.

 

  1. EXPLANATION OF THE SERVICES

 

2.1 Access

 

2.1.1 All Users may access certain public areas of the Site; however, only Customers may use the Platform.  You are responsible for access to the Internet, and any Internet access or other fees that you incur to access our Site, Platform, and the Services are your sole responsibility. We do not provide any hardware or software to you so that you will need to purchase or license the necessary hardware and software to access the Site, Platform and the Services.

 

2.1.2 You are responsible for the Change Tokens that you acquire, including receiving it from, and transferring it to, our Site, as applicable, and managing your access to your digital wallet. We are not responsible for, and do not control, the Bitcoin SV (“BSV”) network or the STAS token protocol (which is used to create Change Tokens on the BSV blockchain), or the use of Change Tokens on the BSV blockchain.   

 

2.2 The Platform

 

The Platform is an online platform that allows Customers to acquire Change Tokens from CDC for designated fiat currency denominations (such as U.S. Dollars) and redeem Change Tokens from CDC for designated fiat currency denominations (such as U.S.Dollars.)

 

2.3 Change Tokens

 

2.3.1 Change Tokens are not money or legal tender and are not monetary instruments. Once you have Change Tokens, you can transfer them, trade them, keep them, use them to pay persons that will accept Change Tokens, or redeem them for fiat currencies from CDC or its designees, subject to the limitations below.

 

2.3.2 Change Tokens are fully backed by fiat currencies and/or cash equivalents held by CDC or CDR with our Regulated Trustees. The fiat currencies used to purchase Change Tokens are deposited in an account held by CDR, an affiliate of CDC, at a Regulated Trustee and a portion of the fiat currency may be invested by CDR, at the direction of CDC, in low-risk interest-bearing securities, such as short-term government bonds. The fiat currency will not be held on any individual Customer’s behalf and any interest earned on fiat currency deposits held in omnibus accounts at Regulated Trustees will be payable to CDC and CDR and not attributable to Change Tokens or any holder thereof.

 

2.3.3 Change Tokens are built using the STAS token protocol on the BSV blockchain. Because of this, Change Tokens may be compatible with existing third-party software that supports STAS BSV-based tokens.

 

2.3.4 Only verified Customers may purchase Change Tokens from us or redeem Change Tokens from us.  We may also refuse to issue Change Tokens to, or redeem Change Tokens from, a verified Customer in the event of any of any of the circumstances described in Section 5.1 of this Agreement, including, without limitation, where we believe that the issuance or redemption of Change Tokens would be contrary to applicable law or would otherwise expose us to legal liability. Absent a reasonable justification not to redeem Change Tokens, and provided that you are a fully verified Customer of CDC, your Change Tokens are freely redeemable, subject to the redemption minimums described herein.

 

2.3.5 CDC and its affiliates may, at their sole discretion, engage market makers to provide liquidity for Change Tokens markets, both on one or more digital asset exchanges and other third-party platforms. Neither CDC nor its affiliates will serve as a market maker or endorse any third-party user platform that may provide liquidity for Change Tokens, and will only issue and redeem Change Tokens.

 

2.4 Disclaimer; Risk Factors

 

2.4.1 We are not responsible for any loss or damage incurred by you as a result of your use of Change Tokens, the Site, the Platform, or the Services or for your failure to understand the nature of stablecoins and other digital assets, including Change Tokens, or the market for such assets.

 

2.4.2 You acknowledge the following risks related to your use of Change Tokens, the Site, the Platform, and the Services:

 

2.4.2.1 Digital assets are not legal tender, are not backed by any government authority, and accounts and values are not subject to (in the U.S.) Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections or equivalent agencies and protections in other jurisdiction.

 

2.4.2.2 Legislative and regulatory changes or actions at the state, provincial, federal or international level may adversely affect the use, transfer, exchange and value of stablecoins and other digital -assets.

 

2.4.2.3 The Bitcoin SV blockchain may experience backlogs, higher than normal transaction fees, changes to the network, failure or a fork in the protocol. We do not own or control the Bitcoin SV blockchain and are not responsible for the operation of the BSV network and make no guarantees regarding the network’s security, functionality, or availability.

 

2.4.2.4 Because a Change Token is a STAS BSV-based token, it may be compatible with software or other technology provided by a third-party. CDC does not guarantee the security or functionality of any third-party software or technology and is not responsible for any losses of Change Tokens due to the failure of third-party software or technology.

 

2.4.2.5 Transactions in Change Tokens, like most other digital assets, may be irreversible, and accordingly, losses due to fraudulent or accidental transactions may not be recoverable.

 

2.4.2.6 Some digital asset transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that a Customer or other user of the digital asset actually initiates the relevant transaction.

 

2.4.2.7 Like most digital assets, Change Tokens in a given address are controlled by the private key of the holder of the address. If the private key is compromised or lost, the Change Tokens in that address may be stolen or lost and otherwise unrecoverable.

 

2.4.2.8 The value of some digital assets may be derived from the continued willingness of market participants to exchange fiat currency 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.

 

2.4.2.9 There is no assurance that a person who accepts Change Tokens as a payment today will continue to do so in the future.

 

2.4.2.10 The nature of Change Tokens as a digital asset may lead to an increased risk of fraud or cyberattack and may mean that technological difficulties experienced by CDC may prevent access to, or use of, your Change Tokens.  

 

2.4.2.11 Any bond or trust account maintained by CDC for the benefit of its Customers may not be sufficient to cover all losses incurred by Customers.

 

2.4.2.12 CDC is not regulated as a financial institution or equivalent in your jurisdiction.

 

2.4.2.13 The Regulated Trustee may not be an FDIC-insured entity.

 

2.4.3 This Agreement does not disclose all of the risks associated with using Change Tokens. You acknowledge and agree that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of those risks for you in light of your circumstances and financial resources. CDC is not giving tax advice, legal advice or other professional advice by allowing you to use the Site, Platform, or the Services. No Material on our Site, including FAQs or blogs, shall be considered tax advice, legal advice or investment advice.  

 

YOU ACKNOWLEDGE AND AGREE THAT YOU SHALL ACCESS AND USE CHANGE TOKENS, THE SITE, THE PLATFORM AND THE SERVICES AT YOUR OWN RISK.   

 

2.5 Third Party Users

 

If you are not a verified Customer, by obtaining or using Change Tokens, you agree and understand that obtaining or using Change Tokens does not create or represent any relationship between you and us and does not subject us to any obligations whatsoever as they relate to you.  You also agree that you will not make us a party to a dispute, and that we are not responsible for your use of Change Tokens on the Bitcoin SV blockchain or otherwise.

 

  1. YOUR ACCOUNT AND ISSUANCE AND REDEMPTION

 

3.1 Opening Your Account; Registration Data; Compliance Policies

 

3.1.1 In order to use the Platform and purchase or redeem Change Tokens, you must create an Account. You will use this Account to purchase Change Tokens using designated fiat currencies and other assets and redeem Change Tokens for designated fiat currencies.

 

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

— To help the government fight the funding of terrorism and money laundering activities, U.S. federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an Account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. This information will be shared with our Regulated Trustees.

 

CDC, CDR and our Regulated Trustees are committed to providing you with safe, compliant, and reputable services through the Platform. Accordingly, each of CDC, CDR and our Regulated Trustees insist on a comprehensive and thorough customer due diligence process and implementation as well as ongoing analysis and reporting. This includes monitoring of and for suspicious transactions and mandatory reporting to international regulators.

 

Our Trustees and all other regulated financial institutions and money transmission partners of CDC and CDR reserve the right to refuse registration to, or to bar transactions from or to, anyone from or in jurisdictions that do not meet international AML–CTF standards as set out by the Financial Action Task Force (“FATF”) or other high-risk jurisdictions; to anyone that is a Politically Exposed Person within the meaning of the FATF’s 40+9 Recommendations; or that fails to meet any of our customer due diligence standards, requests, or requirements; or to anyone that is on the Specially Designated Nationals List of the U.S. Office of Foreign Assets Control (“OFAC”); any Canadian designated persons list, including the Consolidated Canadian Autonomous Sanctions List; any UN Sanctions List; or other applicable sanctions or watchlist. The Trustee may also refuse registration to, or bar transactions from or to, anyone from, resident in, or transacting to a country subject to UN, US, Canadian or other applicable economic sanctions. In lieu of refusing registration, we may perform enhanced customer due diligence procedures at the sole discretion of CDC and the applicable Regulated Trustee. At all times, you may be subject to enhanced customer due diligence procedures in your use of the Platform and any related service.

 

Our Regulated Trustees and all other regulated financial institutions and money transmission partners of CDC and its affiliates reserve the right to prohibit specific digital asset wallet addresses from accessing the Platform, receiving Change Tokens, or transferring Change Tokens if properly directed to do so by law enforcement or a court of competent jurisdiction. CDC and its affiliates will cooperate with applicable law enforcement and regulatory authorities where it is required to do so and will share information if there are grounds to believe that Change Tokens are being used for illegal purposes.

 

Our Regulated Trustees and all other regulated financial institutions and money transmission partners of CDC reserve the right to prohibit specific digital asset exchanges from accessing the Platform, receiving Change Tokens, or transferring Change Tokens if the exchange has not been pre-approved by CDC or CDC is properly directed to do so by law enforcement or a court of competent jurisdiction. The Trustee reserves the right to restrict or prohibit the listing or trading of Change Tokens on any exchange in its sole and absolute discretion. Any exchange that lists Change Tokens represents and warrants to CDC and CDR that by doing so it is duly organized, registered, licensed, and shall comply with all applicable laws and rules in every jurisdiction in which it operates.

 

Furthermore, any exchange listing Change Tokens represents and warrants to CDC and CDR that by doing so it has AML and Counter Terrorist Financing controls meeting the requirements in every jurisdiction in which it operates. CDC will make reasonable efforts to notify and inform exchanges in advance of any such restriction or prohibition, unless CDC is prohibited from doing so by law or under an order from a court of competent jurisdiction or authority.

 

We refer to the information that we collect about your identity as “Registration Data.”  In connection with opening the Account, you may also be required to disclose certain third-party account information to us, including, without limitation, your bank account number, your Change Tokens addresses and related information. Please refer to our Privacy Policy for additional information.

 

3.1.2 In addition, at any time before or after your Account has been opened, you may be requested to provide certain other information pursuant to our compliance program, policies and applicable law. If you fail to reply promptly to any request from us, or if your responses are unsatisfactory, we may close or suspend your Account.

 

3.1.3 You agree to provide true, accurate, current and complete responses to our information requests, and you further agree to maintain and promptly update the information you have provided us, including the Registration Data, your contact information and any responses to requests from our Compliance Department, to keep it true, accurate, current and complete at all times while you are a Customer. If you provide any information that is untrue, inaccurate, not current or incomplete, or if we or any of our authorized agents have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, we have the right to suspend or terminate your Account and refuse any and all current or future use of the Platform by you, as well as subject you to civil liability or refer you to the appropriate law enforcement authorities for criminal prosecution. We shall not be liable to make any compensation, monetary or otherwise, following such suspension, termination or inability to use the Platform. You are responsible for any fees that CDC or its affiliates incur with respect to your Account as a result of any of the foregoing.

 

3.1.4 You hereby authorize us, our Regulated Trustees or a third-party service provider, to take any measures that we consider necessary to verify and authenticate your identity, confirm the information you submit about your bank (or other financial institution) account, and to take any action we deem necessary based on the results.

 

3.1.5 While we use reasonable efforts to protect your Registration Data from inadvertent release or misappropriation, we are not responsible for the intentional or criminal acts of third parties such as hackers or “phishers.”

 

3.2 Security Procedures and Liability for Unauthorized Activity

 

3.2.1 You are responsible for any and all activities conducted through your Account and validated by us using the Security Procedures, as described below, notwithstanding that such activities were not authorized by you. By using the Platform, you agree that the Security Procedures described in this Agreement are commercially reasonable for the size, amount and frequency of your transactions. You further agree that the Security Procedures described in this Agreement are used to verify the authenticity of your orders or other instructions, but not to detect errors in any order or other instruction you transmit.  

 

3.2.2 In order to log into your Account, you will be required to provide your Customer name (or other identifier) and password, and you will have the option of using a two-factor authentication service to verify your identity, which we refer to as “2FA” (collectively, “Security Procedures”). In some cases, in our sole discretion, we may require additional verbal or electronic confirmation of a transaction prior to processing such transaction.  

 

3.2.3 You are responsible for maintaining the security and confidentiality of your Customer name (or other identifier), password and 2FA device, as applicable. You agree to notify us immediately of any unauthorized use of your Customer name (or other identifier), password or 2FA device as well as of any other breach of security. If you choose to install and use a 2FA application on a device on which the operating system has been tampered with in any way, you do so at your own risk. 2FA applications are provided by third parties, and we do not take any responsibility for such third-party applications.

 

3.2.4 While we may implement certain monitoring procedures designed to alert us to fraudulent activity, we are not responsible for any unauthorized use of your Account, and we will not be liable for any loss that you may incur as a result of someone accessing your Account, either with or without your knowledge. We disclaim any and all liability arising from fraudulent entry and use of the Platform (including, but not limited to, liabilities arising from unauthorized purchases or redemptions executed through your Account). If someone fraudulently obtains access to your Account, we will take such action as we determine to be warranted, including without limitation, terminating your access immediately, closing the Account, and taking all necessary and appropriate actions under applicable international, federal, state, provincial and local laws.

 

3.2.5 PLEASE NOTE THAT WE WILL NEVER ASK YOU, FOR ANY REASON, WHETHER BY EMAIL, REGULAR MAIL OR TELEPHONE, TO DISCLOSE YOUR ACCOUNT PASSWORD. PASSWORD INQUIRIES WILL ONLY BE CONDUCTED ONLINE AND ONLY AFTER YOU HAVE SIGNED ONTO CDC’S SITE. WE WILL NEVER SEND YOU EMBEDDED LINKS IN AN EMAIL REQUESTING THAT YOU SIGN ONTO THE SITE BY CLICKING SUCH A LINK. IF YOU RECEIVE AN EMBEDDED LINK BY EMAIL CLAIMING TO BE FROM US, YOU SHOULD NOT OPEN IT OR CLICK ON THE LINK. THE EMAIL IS NOT FROM US AND IS LIKELY FRAUDULENT. NEVER GIVE YOUR ACCOUNT PASSWORD TO ANYONE WHOM YOU DO NOT INTEND TO AUTHORIZE TO USE YOUR ACCOUNT.

 

3.3 No Account Transfers; No Grant of Third Party Access

 

You may not transfer, lease, assign or sell your Account (or any use thereof) to a third party without the consent of CDC. In addition, you may not grant any person access to your Account except as expressly permitted herein.

 

3.4 Not a Bank Account

 

YOUR ACCOUNT WITH US IS NOT A BANK ACCOUNT OR A DEPOSIT ACCOUNT. CHANGE TOKENS ARE NOT FINANCIAL INSTRUMENTS. CDC MAY COLLECT INTEREST ON FIAT CURRENCY DEPOSITS HELD IN OMNIBUS ACCOUNTS AT REGULATED TRUSTEES.

 

3.5 Purchasing Change Tokens

 

After creating your Account through the CDC Platform, you will be able to purchase Change Tokens with designated fiat currency.

 

3.5.1 You may purchase Change Tokens (a) directly, from CDC through your Account with designated fiat currency, such as US Dollars, either via funds transfer from your account(s) with financial institutions to CDC’s account at a Regulated Trustee or (b) indirectly, through your account on a third-party exchange that supports the purchase and exchange of Change Tokens, in accordance with the terms of use of such exchange. For direct purchases, once CDC receives your funds and validates that they are from a bank account owned by you, CDC will issue to your digital wallet the equivalent number of Change Tokens representing the fiat currency you transferred on a one-for-one basis. In order to receive Change Tokens, you must provide us with the BSV blockchain public address associated with a digital wallet owned or relevant Paymail details.controlled by you. If a fiat currency transaction does not originate from a bank account or credit card owned by you, it will be rejected and returned immediately. Transfer times are subject to bank holidays, the internal processes and jurisdiction of your bank, and the internal processes of our banks.

 

3.6.2 You represent and warrant that all funds that you transfer to our Regulated Trustees do not represent the proceeds of any criminal or fraudulent activity. You are not allowed to receive Change Tokens in your digital wallet from a transfer of fiat currency from a sender other than yourself. If we reasonably determine that you are not the owner of funds transferred to a Regulated Trustee on your behalf, we reserve the right to dispose of those funds in accordance with applicable law and in our sole discretion.

 

3.6.3 Prior to the placement of a purchase order on our Platform, you will be required to review the following information: the amount of the purchase and the BSV blockchain address to which the Change Tokens will be sent. For more detailed instructions on how to be issued Change Tokens, please refer to the instructions set forth on www.changedigital.cash. For specific questions, please email [email protected].

 

 

3.7.3 Once an issuance of Change Tokens has been executed and the appropriate assets have been credited and debited, the transaction will not be reversible.

 

3.8 Cancelled Orders

 

CDC reserves the right to cancel or nullify orders in the event that the order contains a bug, mistake, or an actual or suspected breach of this Agreement.

 

3.9 Redemption of Change Tokens for Fiat Currency

 

3.9.1 In order to redeem Change Tokens for designated fiat currencies through the Platform, you must (i) have an Account, and (ii) provide the wire transfer details to us for your bank account to which the fiat currency should be transferred. Your Account will have a unique redemption address to which you can send your Change Tokens. Upon sending your Change Tokens to your redemption address, CDC will initiate a wire transfer to your bank account a corresponding amount of fiat currency, less any applicable bank fees and/or third-party transactional fees.  For example, if you send Change-USD tokens of the aggregate value of 500 US Dollars to the identified redemption address, CDC will send to your bank account 500 US Dollars, less any applicable bank fees and/or third-party transactional fees. ALL REDEMPTIONS WILL BE ON A ONE-FOR-ONE BASIS, NET OF ANY BANK FEES AND/OR THIRD-PARTY TRANSACTIONAL FEES, NOTWITHSTANDING ANY CHANGE IN THE MARKET VALUE OF CHANGE TOKENS.

 

3.9.2 All Change Tokens will be rounded down to the nearest US cent at time of redemption and conversion to designated fiat currency.  

 

3.9.3 CDC will make commercially reasonable efforts to redeem your Change Tokens quickly.

 

3.9.4 Please note that that any redemption, conversion to and transfer of fiat currency may be delayed as necessary to comply with applicable law and/or the Platform’s and/or a Regulated Trustee’s compliance program, including verification of customer identification and anti-money laundering procedures. CDC will use commercially reasonable efforts to promptly complete redemptions.

 

3.9.5 CDC may require a minimum amount of Change Tokens for redemption, which may be updated from time to time.

 

3.9.6 CDC reserves the right to require a redemption of all outstanding Change Tokens for any reason or no reason (a “Global Redemption”). In the event of a Global Redemption, we will provide you notice thereof and, if permitted by applicable law, will permit all holders of Change Tokens to redeem all Change Tokens within a reasonable time frame expected to be sixty (60) calendar days. No redemptions will be permitted following the expiration of the sixty-day redemption period.

 

3.13 Forks

 

3.13.1 You understand, acknowledge and agree that the underlying operating rules of the Bitcoin SV blockchain may change from time to time in such a way as to result in more than one related version of the BSV network (each instance of any such change, a “Fork”). If a Fork occurs, it may result in the creation of a new persistent branch of the Bitcoin SV blockchain. CDC will evaluate all forks and make a determination, based on a number of factors, to support Change Tokens on one, and only one, of the Forks. CDC will continue to provide Services for, support and hold fiat currencies against, Change Tokens held on the supported Fork only.

 

3.13.2 If a Fork occurs, you understand, acknowledge and agree that we may temporarily suspend the operations of the Platform.

 

  1. FEES

 

4.1 Transaction Fees

 

CDC may charge certain transaction fees in respect of banking fees, payment card fees, the cost of anti-money laundering compliance review or other administrative expenses incurred by CDC in respect of your purchase or redemption of Change Tokens on the Platform. Such fees are displayed on the CDC Website and disclosed to you at the time of initiating any purchase or redemption of Change Tokens. Such fees, if any, may be changed from time to time. Your financial institution, the provider of your digital asset wallet and/or any third-party exchange through which you purchase or trade Change Tokens, however, may charge their own transaction and other fees related to the transfer of funds to or from the Regulated Trustee and any such fees will be netted against your purchase or redemption amount.

 

4.2 Right to Change Fees and Fee Structure

 

We reserve the right to change or modify our fee structure or increase any of our fees at any time and from time to time. Any such changes, modifications or increases will be effective upon posting such changes, modifications or increases on our Site. Your first use of your Account following the posting on the Site of any changes to the fees will constitute your acceptance of such changes. If you do not agree to the posted changes, you may close your Account as provided in this Agreement.

 

  1.  SUSPENSION AND TERMINATION OF YOUR MEMBERSHIP AND ACCOUNT; ILLEGAL USE OF CHANGE TOKENS

 

5.1 Suspension and Termination

 

Without limiting other remedies that may be available to us, we reserve the right, in our sole and absolute discretion, to block access to or to suspend, close or terminate your Account, refuse to let you purchase Change Tokens or redeem your Change Tokens at any time, with or without advance notice, if:

 

5.1.1.1 we believe, in our sole and absolute discretion, that you have breached any terms and conditions of this Agreement;

 

5.1.2 you engage in abusive behavior, as determined in our sole and absolute discretion;

 

5.1.3 we are unable to verify or authenticate any information you provide to us;

 

5.1.4 we believe, in our sole and absolute discretion, that your actions may cause legal liability for you, our Users, Customers or us;

 

5.1.5 you purchase Change Tokens using any source of funds to which you do not have the legal right;

 

5.1.6 we have reasonable suspicion that you are directly or indirectly using our Site, the Platform, the Services, the Materials or Change Tokens in violation of applicable law or regulation, or this Agreement;

 

5.1.7 we are directed to do so by law enforcement, regulatory authority or court order;

 

5.1.8 we are required to do so by applicable law or regulation;

 

5.1.9 your Account is subject to pending litigation, investigation or governmental proceeding; or

 

5.1.10 we believe that someone is attempting to gain unauthorized access to your Account.

 

5.2 USE FOR ILLEGAL ACTIVITY PROHIBITED

 

CDC AND/OR ITS REGULATED TRUSTEES MAY FREEZE, TEMPORARILY OR PERMANENTLY, YOUR USE OF, AND ACCESS TO, CHANGE TOKENS OR YOUR ABILITY TO REDEEM CHANGE TOKENS FOR FIAT CURRENCY, WITH OR WITHOUT ADVANCE NOTICE, IF WE ARE REQUIRED TO DO SO BY LAW, INCLUDING BY COURT ORDER OR OTHER LEGAL PROCESS.  

 

YOUR CHANGE TOKENS MAY BE SUBJECT TO SEIZURE OR FORFEITURE BY LAW ENFORCEMENT, AND WE WILL COMPLY WITH LEGAL PROCESS IN RESPECT THEREOF.

 

IF WE OR OUR REGULATED TRUSTEES DETERMINE AFTER INVESTIGATION THAT CHANGE TOKENS HAVE BEEN USED, OR ARE BEING USED, FOR ILLEGAL (OR SANCTIONED) ACTIVITY, WE OR THEY MAY NOT PERMIT YOU TO REDEEM YOUR CHANGE TOKENS FOR FIAT CURRENCIES FROM CDC, AND, IF PRESENTED FOR REDEMPTION, SUCH CHANGE TOKENS AND THE FIAT CURRENCYS BACKING SUCH CHANGE TOKENS MAY BE FORFEITED.

 

ANY CHANGE TOKENS OR FIAT CURRENCY UNDERLYING CHANGE TOKENS THAT ARE SUBJECT TO FREEZE, SEIZURE, FORFEITURE OR SIMILAR LIMITATION ON ITS USE IMPOSED BY LAW MAY BECOME WHOLLY AND PERMANENTLY UNRECOVERABLE AND UNUSABLE, AND IN APPROPRIATE CIRCUMSTANCES, MAY BE DESTROYED.

 

THIS SECTION APPLIES TO ALL HOLDERS, REGARDLESS OF WHETHER THE HOLDER IS A CUSTOMER OF CDC OR ITS REGULATED TRUSTEES.

 

BY USING CHANGE TOKENS, YOU AGREE THAT WE MAY TAKE THE ACTIONS SET FORTH IN THIS SECTION AND THAT WE WILL NOT BE LIABLE TO YOU THEREFORE.

 

5.3 Loss of Value on Suspension or Closure

 

We are not responsible for any loss of value to you resulting from the suspension or closing of your Account for any of the reasons listed above, including your violation of this Agreement. You agree that neither CDC nor any third party acting on our behalf shall be liable to you for any termination of your access to any part of the Site or Services or the Platform in accordance with this Agreement.  

 

5.4 Your Obligations on Suspension or Closure

 

5.4.1 You agree that if your access is terminated by us, you will not attempt to regain access to the Site, the Platform, or the Services – using the same or different username or other attempted identification – without our prior written consent.

 

5.4.2 If we terminate your Account, we will provide you notice of such termination and, if permitted by applicable law, will permit you to redeem any Change Tokens you hold within thirty (30) calendar days. You authorize us to transfer the relevant fiat currency (less bank fees, any third-party transactional fees and damages to which we are entitled) to any bank account linked to your Account upon redemption, unless otherwise required by law.

 

  1. SERVICE INTERRUPTION

 

From time to time due to technological factors, scheduled software updates and the performance of other maintenance, as well as factors beyond or within our control, the Site, the Platform, or other Services may be temporarily interrupted (“Downtime”). Open transactions will be held during Downtime and processed normally following Downtime.

 

  1. AGREEMENT TO RECEIVE NOTIFICATIONS AND OTHER COMMUNICATIONS

 

We reserve the right to send electronic mail or other messages to you and to other Customers for purposes of providing you information about your Account or the Services you receive. Please see our Privacy Policy regarding certain direct marketing.

 

  1. RESTRICTIONS ON USE OF OUR SITE AND SERVICES

 

8.1 Customer Type

 

If you register with us as an individual Customer, you agree that you will use the Site, the Platform and the Services for your personal use only. If you register with us as an institutional Customer on behalf of an institution, you (a) represent that you are an authorized representative of such institution and that this Agreement is binding on such institution, and (b) agree that you will use the Site, the Platform and Services for commercial purposes only. In addition, you agree that any use of the Site, the Platform and the Services shall be for the purposes expressly permitted and contemplated by this Agreement. You may not use the Site, the Platform and the Services for any other purposes without our express prior written consent.

 

8.2 Restrictions on Use

 

Without our express prior written authorization, you may not:

 

8.2.1 Duplicate or reproduce any part of our Site, the Platform, the Services or the Materials (except as expressly provided elsewhere in this Agreement);

 

8.2.2 Create any derivative works based on or using our Site, the Platform, the Services or the Materials, and you agree and stipulate that any and all derivative works are NOT “fair use;”

 

8.2.3 Use our Site, the Platform, the Services or the Materials for any public display, public performance, sale or rental, and you hereby agree and stipulate that any and all such uses are NOT “fair use”;

 

8.2.4 Re-distribute our Site, the Platform, the Services or the Materials, and you hereby agree and stipulate that any and all such uses is NOT “fair use;”

 

8.2.5 Remove any copyright or other proprietary notices from our Site, the Platform, the Services or the Materials; or, falsify or delete any author attributions, legal or other proper notices or labels of the origin or source material that is uploaded or otherwise provided by you;

 

8.2.6 Frame or utilize any framing techniques in connection with our Site, the Platform, the Services or the Materials;

 

8.2.7 Translate, reverse-engineer, decompile or disassemble our Site, the Platform, the Services or the Materials;

 

8.2.8 Use any meta-tags, pay-per-click advertising, or any other “hidden text” using our Site’s name or marks or those of the Platform, and you hereby stipulate that any use of the Site’s name or marks, or any other marks owned by us is an infringement upon our trademark rights, and you stipulate to make payment of liquidated damages of ten thousand United States dollars (US$10,000) per such infringement as a genuine pre-estimate of the loss and damage that will be suffered by us as a result of such infringement, plus you agree to pay any and all fees incurred in the recovery of this amount, including attorney’s fees and all associated costs;

 

8.2.9 “Deep-link” to any page of the Site or the Platform, or avoid accepting acknowledgement of this Agreement (for the avoidance of doubt, you may only link to the main entry page);

 

8.2.10 Circumvent any encryption or other security tools used anywhere on the Site or in conjunction with the Platform or the Services (including the theft of usernames, passwords or using another person’s username, password in order to gain access to a restricted area of the Site);

 

8.2.11 Use any data mining, bots, scrapers or similar data gathering and extraction tools on the Site or in conjunction with the Platform, the Services or the Materials;

 

8.2.12 Sell, rent, lease, license, sublicense, transfer, distribute, re-transmit, time-share, use as a service bureau or otherwise assign to any third party the Materials or the Platform or Services or any of your rights to access and use the Platform, the Materials or Services as granted specifically by this Agreement;

 

8.2.13 Use our Platform or Services to impersonate any other User or person;

 

8.2.14 Use any Materials or information on our Site or included in our Platform or Services in any manner that infringes any copyright, trademark, patent, trade secret, publicity or other proprietary right of any party;

 

8.2.15 Use or duplicate the computer code underlying the Change Tokens token, contrary to the license contained in the Change Tokens code repository;

 

8.2.16 Upload or attempt to upload files that contain viruses, Trojan horses, worms, time bombs, cancelbots, corrupted files, or any other similar software or programs that may damage the operation of ours or another’s property;

 

8.2.17 Upload, post, email or otherwise transmit to us any submission that you do not have a right to transmit under contractual, fiduciary or other relationships (such as inside information, trade secrets, proprietary and confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements);

 

8.2.18 Upload, post, email or otherwise transmit any unsolicited or unauthorized advertising, promotional materials, “junk mail,” “spam,” “chain letters,” “pyramid schemes,” or any other form of solicitation, except in those areas that we may designate for such purpose;

 

8.2.19 Restrict or inhibit any other User from using and enjoying the Platform or the Services;

 

8.2.20 Harvest or otherwise collect information about other users of the Site, the Platform or the Services, including e-mail addresses or other personally-identifiable information;

 

8.2.21 Violate any applicable laws, regulations or policies, or this Agreement;

 

8.2.22 Use the Platform, Change Tokens or the Services to pay for, support, receive proceeds from or otherwise engage in any illegal gambling activities;

 

8.2.23 Upload, post, email or otherwise transmit any material that is illegal, immoral, obscene or defamatory of any person;

 

8.2.24 Use any automatic device or manual process to monitor or reproduce the Site, the Services (including the Platform) or the Materials, and will not use any device, software, computer code, or virus to interfere or attempt to disrupt or damage the Site, Platform, or Services; and

 

8.2.25 Do anything that may adversely affect proper operation of the Site, the Platform, the Services and the reputation and goodwill of CDC.

 

  1. LIQUIDATED DAMAGES

 

9.1 Stipulated Liquidated Damages

 

In various provisions in this Agreement, we have outlined liquidated damages amounts to be applied against you if you violate these specific provisions. You specifically agree to pay these amounts. In agreeing to pay liquidated damages, you understand, acknowledge and agree that this amount is not a penalty, that the actual damages are uncertain and difficult to ascertain, but that this amount represents the parties’ good faith attempt to calculate an appropriate compensation based on anticipated actual damages and is a genuine pre-estimate of the loss and damage which may be suffered by us.

 

9.2 Other Liquidated Damages

 

For any breach of a portion of this Agreement that does not specifically state a liquidated damages amount, you hereby agree that any breach of this Agreement shall result in liquidated damages of one hundred United States dollars (US$100) per occurrence. You specifically agree to pay one hundred United States dollars (US$100) in liquidated damages per occurrence; provided, however, that you will not be required to pay such liquidated damages in an amount in excess of one thousand United States dollars (US$1,000).

 

  1. DISCLAIMER OF WARRANTY

 

10.1 Express Disclaimers

 

By using the Site, the Platform, the Materials or the Services, you expressly acknowledge and agree that:

 

10.1.1 Such use of the Site, the Platform, the Materials and the Services is at your own and sole risk;

 

10.1.2 Any material and/or data downloaded or otherwise obtained through the use of the Site, the Platform, the Services or any of the Materials is done at your own discretion and risk, and you are solely responsible for any damage to your computer system or loss of data that results from the download of such material and/or data;

 

10.1.3 The Site, the Platforms, the Services and the Materials and all materials contained therein, are provided “as is” without warranty of any kind, either express or implied, including, but not limited to, any implied warranties of merchantability, fitness for a particular purpose, title, or non-infringement;

 

10.1.4 CDC makes no representations or warranties that the Site, the Platform, the Materials and Services, or any materials contained therein, will be uninterrupted, timely, secure, or error-free; nor does CDC make any representations or warranties as to the quality, suitability, truth, usefulness, accuracy, or completeness of the Site, the Platform, the Materials and the Services or any of the materials contained therein;

 

10.1.5 CDC cannot and does not guarantee or warrant that files available for downloading from the Internet will be free of viruses, worms, Trojan horses, or other code that may manifest contaminating or destructive properties; and, CDC does not assume any responsibility or risk for your use of the Internet in connection with the Site, the Platform, the Materials, the Services and any materials contained therein;

 

10.1.6 CDC makes no warranty, express or implied, regarding any transaction entered into through the Site, the Platform, or the Services;

 

10.1.7 CDC is NOT responsible for the market value or performance of any digital asset, and CDC makes no representations or warranties concerning the value of any digital asset; and

 

10.1.8 CDC makes no warranty, express or implied, regarding the availability of the Site, the Platform or the Services, and shall have no liability for any loss or damage arising from Downtime.

 

10.2 No Implied Warranties

 

The warranties and representations expressly set forth in this Agreement are the only warranties and representations made by CDC with respect to this Agreement, the Site, the Platform, the Materials and the Services, and are in lieu of any and all other warranties, written or oral, express or implied, that may arise either by agreement between the Parties or by operation of law or otherwise, including warranties of merchantability and fitness for a particular purpose, which are excluded to the fullest extent permitted by applicable laws. None of these warranties and representations will extend to any third person.

 

  1. INDEMNIFICATION AND RELEASE

 

11.1 Indemnification

 

To the maximum extent permitted by applicable law, you agree to defend, indemnify, and hold harmless CDC and its affiliates and each of their respective officers, directors, shareholders, members, partners, attorneys, employees, independent contractors, telecommunication providers, and agents (collectively, the “Indemnified Parties”), from and against any and all claims (including third-party claims), actions, loss, liabilities, expenses, costs, or demands, including, without limitation, legal and accounting fees (collectively, “Losses”), directly or indirectly, resulting from or by reason of (i) your (or you under another person’s authority) use, misuse, or inability to use the Site, the Platform, the Services, Change Tokens or the Materials; (ii) any regulatory inquiry, legal action, litigation, dispute or investigation related to your Account and to your use of your Account, the Platform, the Services or Change Tokens; or (iii) your breach of this Agreement.

 

CDC shall notify you by electronic mail, postal mail, or other appropriate means, of any such claim or suit, and reasonably cooperate (at your expense) in the defense of such claim or suit. We reserve the right to participate in the defense of such claim or choose our own legal counsel but are not obligated to do so.

 

11.2 Release

 

To the maximum extent permitted by applicable law, you hereby discharge, acquit, and otherwise release the Indemnified Parties, from any and all allegations, counts, charges, debts, causes of action, claims and Losses, relating in any way to the use of the Site, the Platform, the Services, Change Tokens or the Materials, including, but not limited to, claims relating to the following: negligence, gross negligence, intentional interference with contract or advantageous business relationship, defamation, privacy, publicity, misrepresentation, any financial loss not due to the fault of the Site, the Materials, Change Tokens or the Platform, false identities, fraudulent acts by others, invasion of privacy, release or misuse of personal information, failed transactions, purchases or functionality of the Site, unavailability of the Site, its functions and/or the Services and any other technical failure that may result in inaccessibility to the Site, the Platform, the Materials, Change Tokens or the Services, or any claim based on vicarious liability for torts committed by Users encountered or transacted with or through the Site, the Platform or the Services, including, but not limited to, fraud, computer hacking, theft or misuse of personal information, assault, battery, stalking, rape, cheating, perjury, manslaughter, or murder.

 

The above list is intended to be illustrative only, and not exhaustive of the types or categories of claims released by you. This release is intended by the Parties to be interpreted broadly in favor of CDC and its affiliates, and thus any ambiguity shall be interpreted in a manner providing release of the broadest claims. This release is intended to be a full release of claims, and the parties acknowledge the legally binding nature of this provision, and the nature of the rights given up in connection therewith.

 

If you are a California resident, you hereby waive California Civil Code Section 1542, which states:

 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY HIS OR HER SETTLEMENT WITH THE DEBTOR.”

 

If you are a resident of another jurisdiction with a comparable statute or doctrine, you hereby waive such statute or doctrine to the extent permissible under applicable law.  

 

  1. LIMITATION OF LIABILITY

 

12.1 Limitation of Liability

 

Except to the extent prohibited by applicable laws, in no event shall CDC or its affiliates (or their respective licensors, agents, suppliers, resellers, service providers, or any other subscribers or suppliers) be liable to you, or any other third party, for any direct, special, indirect, incidental, consequential, exemplary, or punitive damages, including without limitation, damages for loss of profits, loss of information, business interruption, loss of revenue, or loss of goodwill, which may arise from any person’s use, misuse, or inability to use the Site, the Platform, the Services, Change Tokens, the Materials or any of the materials contained therein, including any loss caused in whole or in part by interruptions in the Services, including the Platform, even if we have been advised of the probability of such damages and regardless of whether such liability is asserted on the basis of contract, tort or otherwise.  

 

We will not be liable for any damage or interruptions caused by any computer viruses, spyware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. You are responsible for maintaining the security of your environment, including regular use of malware screening and prevention software. You should also be aware that email and other communication services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from CDC or its affiliates. Always log into your Account through our Site or contact us if you have any uncertainty regarding the authenticity of any communication or notice.

 

12.2 Force Majeure

 

Neither we (nor any bank or other financial institution where our deposit accounts are held) will be liable for our failure to perform any obligations under this Agreement due to events beyond our control, and the time provided for performing such obligations shall be extended by a period of time equal to the duration of such events. Events beyond our control include, but are not limited to, acts of God, war, riot, arson, embargoes, civil commotion, strikes, labor disputes, equipment failures, bank failures, crypto-asset market collapse or fluctuations, strikes, fire, flood, earthquake, hurricanes, tropical storms or other natural disaster or casualty, shortages of labor or material, shortage of transportation, facilities, fuel, energy, government regulation or restriction, acts of civil or military authority or terrorism, fiber cuts, weather conditions, breaches or failures to perform by third parties, technical problems, including hardware and software crashes and other malfunctions, failure of the telecommunications or information services infrastructure, hacking, SPAM or failure of any computer, server or software disruptions on account of or caused by vandalism, theft, phone service outages, power outage, Internet disruptions, viruses, and mechanical, power or communications failures.

 

If any law, regulation, rule, regulation or decision of any self-regulatory organization, or ordinance, whether international, federal, state, or local, becomes effective which substantially alters our ability to offer the Site, the Platform or the Services hereunder, we shall have the right to cancel this Agreement, with notice, if reasonably possible, effective upon the earlier of (i) the date upon which we are unable to provide our Services hereunder; or (ii) thirty (30) days following notice.

 

12.3 Maximum Liability

 

In no event shall our maximum total aggregate liability hereunder for direct damages exceed the total fees actually paid by you for use of the Site, the Platform or the Services for a period of more than three (3) months from the accrual of the applicable cause or causes of action. Because some jurisdictions prohibit the exclusion or limitation of liability for consequential or incidental damages, the above limitation may not apply to you (in whole or in part).

 

12.4 Redemption Period

 

CDC will notify you in the event of its bankruptcy or dissolution. To the extent allowable by law, upon such bankruptcy or dissolution, you may redeem your Change Tokens up to ninety (90) days from the date of such notice.

 

 

  1. CONFIDENTIALITY AND COMPLIANCE WITH LEGAL PROCESS

 

13.1 Permitted Disclosure

 

We may share information concerning you and your Account:

 

13.1.1 with our banks and other financial institutions that we use or may use to process funds in connection with the Platform and the Services, including Regulated Trustees;

 

13.1.2 with law enforcement, regulatory authorities, tax authorities (including the US Internal Revenue Service pursuant to the Foreign Account Tax Compliance Act, to the extent this applies), self-regulatory organizations and officials, or other third parties when we are compelled to do so by a subpoena, court order, or similar legal procedure, or when we believe in good faith that the disclosure of your information is necessary to prevent physical harm or financial loss, to report suspected illegal activity or to investigate violations of this Agreement or any other applicable policies;

 

13.1.2 with third parties, such as vendors, agents, contractors and our advisors (e.g., legal, financial, business or other advisors), in order to administer our services, including to verify your identity and conduct screening and due diligence checks;

 

13.1.3 in connection with a merger, acquisition or otherwise; or

 

13.1.4 as permitted or required by applicable law.

 

Please refer to our Privacy Policy for more information on the use of your personal information.

 

13.2 Legal Process

 

You agree and understand that we may comply with any writ of attachment, execution, garnishment, tax levy, restraining order, subpoena, warrant or other legal process, that we in good faith believe to be valid. We may, but are not required to, notify you of such process. We may charge you for associated costs, including attorneys’ fees. You agree that we may honor any legal process, regardless of the method or location of service.

 

  1. LINKS AND LINKING

 

14.1 Third Party Links and References

 

Some websites that are linked to or from, or referenced by, the Site are owned and operated by third parties. Because we have no control over such websites and resources, you understand, acknowledge and agree that we are not responsible or liable for the availability of such external websites or resources, [including any third party exchanges that list Change Tokens], and do not screen or endorse such websites or the content, products, services, advertising or other materials presented therein, and are not responsible or liable for any such content, advertising, services, products, or other materials on or available from such websites or resources.

 

Use of any website controlled, owned or operated by third parties is governed by the terms and conditions of use (including privacy policies) for those websites, and not by this Agreement or our Privacy Policy, which is incorporated into this Agreement by reference.

 

We reserve the right to terminate any link or linking program at any time.

 

14.2 No Liability; Indemnification

 

You further understand, acknowledge and agree that we shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by, or in connection with use of or reliance on, any such third-party content, goods or services available on or through any such website or resource. If you decide to access any such third-party website, you do so entirely at your own risk and subject to any terms and conditions and privacy policies posted therein.

 

You hereby agree to defend and hold harmless each of the Indemnified Parties from and against any and all Losses that may result from your use of links that may appear on the Site or via the Services.  

 

  1. INTELLECTUAL PROPERTY

 

15.1 Trademarks

 

“Change Digital Commerce, Inc.” and “Change Tokens” and any associated logos are trademarks or registered trademarks of ours. None of the marks, logos, domains, and trademarks that you find on the Site, the Platform, the Services or in the Materials may be used publicly except with express written permission from CDC and may not be used in any manner that is likely to cause confusion among consumers, or in any manner that disparages or discredits CDC or its affiliates.

 

15.2 Other Marks

 

Other manufacturers’ product and service names referenced on the Site, the Platform, the Services and the Materials may be trademarks and service marks of their respective companies and are the exclusive property of such respective owners and may not be used publicly without the express written consent of the owners and/or holders of such trademarks and service marks. You acknowledge and agree that we either own or have been authorized by relevant third-party intellectual property owners to use the trademarks, copyright, patents, design and intellectual property of any nature and form found on the Site and the Services.

 

15.3 Copyright

 

The Materials accessible from the Site, the Platform and the Services, and any other website owned, operated, licensed, or controlled by us are our proprietary information and valuable intellectual property and we retain all right, title, and interest in such Materials. No rights, title or interest in any such Materials are transferred to you by reason of the access to the Site, the Platform or the Services.

 

All Materials, such as text, graphics, photographs, video and audio clips, music, soundtracks, button icons, streaming data, animation, images, downloadable materials, data compilations and software are the property of CDC or its content suppliers and are protected by United States and international copyright laws. The compilation of all Materials on the Site and in the Platform and the Services is the exclusive property of CDC or its content suppliers and protected by United States and international copyright laws, as well as other laws and regulations.

 

  1. EXPORT CONTROL

 

You understand acknowledge and agree that the software elements of the Materials on the Site may be subject to regulation by agencies of the United States Government, including the United States Department of Commerce, which prohibits export or diversion of software to certain countries and third parties. Diversion of such materials contrary to laws of the United States, or any international, provincial, state or other applicable law is prohibited. You will not assist or participate in any such diversion or other violation of applicable laws and regulations. You agree that none of the Platform, the Services, the Materials or virtual currencies are being or will be used, acquired for, shipped, transferred, or re-exported, directly or indirectly, to proscribed or embargoed countries or their nationals or be used for proscribed activities.

 

  1. NOTICE

 

17.1 Notice

 

Any notice we are required to give you under this Agreement may be provided by email, postal mail, or facsimile utilizing the contact information provided by you when you registered with the Site and/or the Platform. Notices from you to us shall be given by email to: [email protected], unless otherwise specified in the Agreement.

 

17.2 Change of Address

 

Either party may change the address to which notice is to be sent by written notice to the other party pursuant to this provision of the Agreement.

 

17.3 Change to Terms and Conditions or Fees

 

Any notice of a change to our Terms and Conditions or fees required to be given pursuant to Section 1.7 hereof shall be sent to the email address you provide to us. The email notice will instruct you to visit our website to review the new changes to this Agreement or the fees.

 

17.4 When Notice is Effective

 

Notices shall be deemed effective upon delivery. Notices delivered by nationally recognized overnight carrier (e.g., United States Express Mail or Federal Express) shall be deemed delivered on the business day following mailing. Notices mailed by United States Mail, postage prepaid, registered or certified with return receipt requested, shall be deemed delivered five (5) days after mailing. Notices by email and facsimile transmission, with confirmation from the transmitting machine that the transmission was completed, are acceptable under this Agreement provided that they are deemed delivered one (1) hour after transmission if sent during the recipient’s business hours, or otherwise at 9:00 a.m. (recipient’s time) the next business day. Notices delivered by posting on the Site shall be deemed delivered upon posting. Notices delivered by any other method shall be deemed given upon receipt. Either party may, by giving the other party appropriate written notice, change the designated address, fax number and/or recipient for any notice or courtesy copy, hereunder.

 

17.5 Refused, Unclaimed, or Undeliverable Notice

 

Any correctly addressed notice that is refused, unclaimed or undeliverable shall be deemed effective as of the first date that said notice was refused or deemed undeliverable by the postal authorities, messenger, facsimile machine, email server or service provider, or overnight delivery service.

 

17.6 Confidentiality of Communications

 

We do not provide any facility for sending or receiving private or confidential electronic communications. Visitors should not use this Site or Services (including the Platform) to transmit any communication for which the sender intends only the sender and the intended recipient(s) to read. Notice is hereby given that all messages and other content entered into this Site or Services can and may be read by the agents and operators of the Site or Services, regardless of whether they are the intended recipients of such messages. User should not have an expectation of privacy regarding any communications sent through this Site or the Services.

 

  1. ARBITRATION; STATUTE OF LIMITATIONS

 

18.1 Arbitration

 

If a dispute arises between the parties arising out of or otherwise relating to this Agreement, the parties shall meet and negotiate in good faith to attempt to resolve the dispute. If the parties are unable to resolve the dispute through direct negotiations, then, except as otherwise provided herein, either party must submit the issue to binding arbitration in accordance with the applicable Arbitration Ordinance. Claims subject to arbitration (“Arbitral Claims”) shall include, but are not limited to, contract and tort claims of all kinds, and all claims based on any federal, state or local law, statute, or regulation, excepting only claims by us under applicable worker’s compensation law, unemployment insurance claims, along with actions (regardless of the underlying cause of action) by us seeking injunctions, attachment, garnishment, and other equitable relief. You agree to arbitrate solely on an individual basis, and understand, acknowledge and agree that this Agreement does not permit class arbitration or any claims of any type brought as a plaintiff or class member in any class or representative arbitration proceeding.

 

Any dispute arising out of or relating to this Agreement, or the breach thereof, shall be finally settled on an individual basis by arbitration in Dallas, Texas administered by the American Arbitration Association in accordance with its Consumer Arbitration Rules. The language of the arbitration shall be English and the Agreement shall be governed by the laws of the State of Delaware.

 

An arbitral decision may be enforced in any court, and a prevailing party in any action or proceeding to enforce this Agreement shall be entitled to costs and attorney’s fees.  

 

The Arbitrator shall have no authority to award any punitive or exemplary damages, certify a class action (or join the claims of one party with any other party), add any parties, or vary or ignore the provisions of this Agreement. The arbitrator shall render a written opinion setting forth all material facts and the basis of his or her decision within thirty (30) days of the conclusion of the arbitration proceeding.

 

If for any reason this arbitration clause is not applicable or litigation proceeds in court, then you agree that:  

 

(i) You may bring claims against CDC, CDR or their affiliates only in your individual capacity and not as a plaintiff or class member in any purported class or representative action; and

 

(ii) TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAWS AND REGULATIONS, YOU HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER MATTER INVOLVING US ARISING OUT OF THE SITE OR SERVICES (INCLUDING THE PLATFORM).

 

18.2 No Waiver of Right to Arbitration

 

There shall be no waiver of the right to arbitration unless such waiver is provided affirmatively and in writing by the waiving party to the other party. There shall be no implied waiver of this right to arbitration. No acts, including the filing of litigation, shall be construed as a waiver or a repudiation of the right to arbitrate.

 

18.3 Waiver of Statute of Limitations

 

Notwithstanding the period of limitation prescribed by applicable laws for the bringing of any relevant action or claim, the Parties hereby mutually agree that no action, regardless of form, arising out of or in conjunction with the subject matter of this Agreement, except for claims involving intellectual property, claims to recover outstanding amounts due to us and claims for indemnification, may be brought by any party more than one (1) year after the cause of action arose, following which either party shall have no further claim whatsoever against the other party.

 

  1. RIGHT TO INJUNCTIVE RELIEF

 

You agree that due to the nature of our business, monetary damages for a breach of your obligations under this Agreement would be inadequate to compensate us. Accordingly, you agree and understand that any violation or threatened violation by you of your obligations under this Agreement will cause irreparable injury to us and that, in addition to any other remedies that may be available, in law, in equity or otherwise, we will be entitled to obtain injunctive relief against any threatened breach of this Agreement or the continuation of such breach without the necessity of proving actual damages.

 

  1. COMPLAINTS

 

If you would like to contact us with a complaint, please contact Customer Support using one of the following methods:

 

E-mail [email protected] using the email address associated with your account.

 

Write to Customer Support at:

Change Commerce Digital, Inc.

1158 TOWER LN

BENSENVILLE, IL 60106

USA

 

 

 

 

 

  1. MISCELLANEOUS PROVISIONS

 

21.1 Assignment

 

Neither this Agreement, nor any of your rights and obligations hereunder, may be transferred by you, but may be assigned by us without restriction. Any attempted transfer or assignment by you in violation hereof shall be null and void. This Agreement shall be binding and inure to the benefit of the parties hereto, our successors, and permitted assigns.

 

In the event that we are acquired by or merged with a third-party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.

 

21.2 Severability

 

If for any reason a court of competent jurisdiction or an arbitrator finds any provision of this Agreement, or any portion thereof, to be invalid, unenforceable or illegal, such invalidity, unenforceability or illegality shall not affect the remainder of this Agreement, which will continue to be in full force and effect, and any prior, effective provision of the Agreement that was superseded by such invalid, unenforceable or illegal provision shall be deemed valid and enforceable to the fullest extent.

 

21.3 No Waiver

 

No waiver or action made by us shall be deemed a waiver of any subsequent default of the same provision of this Agreement. No failure or delay in exercising or enforcing any privilege, right, remedy, or power hereunder shall be deemed a waiver of such provision by us. All waivers must be in writing.

 

21.4 Headings

 

All headings are solely for the convenience of reference and shall not affect the meaning, construction or effect of this Agreement.

 

21.5 Complete Agreement

 

This Agreement, together with our Privacy Policy, constitutes the entire agreement between the parties with respect to your access and use of the Site, the Platform, the Services, the Materials and the materials contained therein. This Agreement, together with our Privacy Policy, supersedes and replaces all prior understandings or agreements, written or oral, regarding such subject matter.

 

21.6 Other Jurisdictions

 

We make no representation that the Site, the Platform, the Services, the Materials or any of the materials contained therein are appropriate or available for use in other locations, and access to them from territories where their content or function may be illegal or is otherwise prohibited. Those who choose to access the Site, the Platform, the Services and the Materials from such locations do so on their own initiative and are solely responsible for determining compliance with all applicable local laws.

 

21.7 Survival

 

All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including without limitation, sections pertaining to suspension or termination, debts owed, general use of the Platform, or the Services, disputes with us, and general provisions, shall survive the termination or expiration of this Agreement.

 

21.8 No Agency Relationship

 

Nothing in this Agreement shall be deemed to constitute, create, imply, give effect to, or otherwise recognize a partnership, employment, joint venture, or formal business entity of any kind; and the rights and obligations of the Parties shall be limited to those expressly set forth herein. We are not your agent or other representative. Except for the indemnity and exculpation provisions herein, nothing expressed in or implied from this Agreement is intended or shall be construed to give any person other than the Parties hereto any legal or equitable right, remedy, or claim under or in respect of this Agreement to enforce any of its terms which might otherwise be interpreted to confer such rights to such persons. This Agreement and all representations, warranties, covenants, conditions and provisions hereof are intended to be and are for the exclusive benefit of you and us.