247BIDS, LLC USER AGREEMENT
This is a contract between you and 247Bids, LLC ("247Bids"). By signing up to use an account through http://www.247bids.com, or any associated websites, APIs, or mobile applications (collectively the “Site” or "247Bids Site"), you agree that you have read, understood, and accept all of the terms and conditions contained in this Agreement.
Last updated: May, 2019
READ THESE TERMS CAREFULLY BEFORE ACCESSING THIS SERVICE OR THE SITE, OR CLICK-ACCEPTING THESE TERMS WHEN REGISTERING TO USE THE SERVICES. THESE TERMS HAVE LEGAL CONSEQUENCES AND WILL AFFECT YOUR LEGAL RIGHTS. BY AGREEING TO THESE TERMS, YOU ARE WAIVING YOUR RIGHT TO SUE IN COURT, YOUR RIGHT TO A TRIAL BY JURY, AND YOUR RIGHT TO BRING ANY CLASS, COLLECTIVE, OR REPRESENTATIVE PROCEEDING AGAINST 247BIDS. AS USED IN THESE TERMS, THE SITE MEANS THE ENTIRETY OF THIS WEBSITE AND MOBILE APPLICATIONS INCLUDING, BUT NOT LIMITED TO, ALL CONTENT, SERVICES, INFORMATION, AND ANY PORTIONS THEREOF. THE 247BIDS SERVICES ARE ANY SERVICES OFFERED OR PROVIDED BY 247BIDS AND THE SERVICES AND THE SITE ARE COLLECTIVELY REFERRED TO AS THE SERVICES. BY BUYING OR BIDDING FOR PRODUCTS OR BY OTHER USE OF THE SERVICES, YOU AFFIRM THAT YOU ARE OF LEGAL AGE TO ENTER INTO THESE TERMS, AND YOU ACCEPT AND ARE BOUND BY THESE TERMS.
1. Basic 247Bids Services
- Eligibility. To be eligible to use the 247Bids Services, as defined below, you must be at least 18 years old.
- 247Bids Services. Your 247Bids account ("247Bids Account") encompasses the following basic 247Bids services: the buying of or bidding on goods or other services, one or more hosted Digital Currency wallets that allow users to store certain supported digital currencies, like Bitcoin or Ethereum ("Digital Currency"), and to track, transfer, and manage supported Digital Currencies (the "Hosted Digital Currency Wallet"); Digital Currency conversion services through which users can buy and sell Digital Currencies in transactions with 247Bids (the "Conversion Services"); and a USD account for use in connection with other 247Bids Services (a "USD Wallet" or "Currency Wallet") and for eligible users. The risk of loss of holding Digital Currency can be substantial. You should therefore carefully consider whether trading or holding Digital Currency is suitable for you in light of your financial condition.
- Availability. 247Bids will not be liable if for any reason all or any part of the Services are unavailable at any time or for any period. From time to time, 247Bids may restrict access to some or all parts of the Services to users, including registered users.
- General Policies. The 247Bids policies accessible throughout the Site are expressly incorporated by reference into these terms, and you should review each carefully. The procedures and guidelines contained below explain the auction process .
2. Contractual Obligations.
3. Creating a 247Bids Account
- Binding Contract. The auction process is a method in which the Site solicits offers from buyers for the sale of lots. By submitting bids, you are making a legal offer to buy the lot. Once a bid is accepted, a contract is created between the buyer and the Site for the sale and purchase of the lot in accordance with the terms disclosed at the time of the auction. By using the Services and bidding on a lot, or by using the 'Buy It Now' function, you agree to complete the transaction as described and fulfill any and all contractual obligations.
- Registration of 247Bids Account. In order to use the 247Bids Services, you will need to register for a 247Bids account (a "247Bids Account"). During the registration process, we will ask you for information, including your name and other personal information to verify your identity. We may, in our sole discretion, refuse to open a 247Bids Account for you, or limit the number of 247Bids Accounts that you may hold.
- Identity Verification. During registration of your 247Bids Account, you agree to provide us with the information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information. You will need to complete certain verification procedures before you are permitted to use the 247Bids Services. Your access to one or more 247Bids Services and the limits that apply to your use of the 247Bids Services, may be altered as a result of information collected about you on an ongoing basis. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e- mail address, date of birth, taxpayer identification number, a government identification, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number). In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to keep us updated if any of the information you provide changes. You authorize us to make inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full. This is an identity check only and should have no adverse effect on your credit rating. Additionally, we may require you to wait some amount of time after completion of a transaction, before permitting you to use further 247Bids Services and/or before permitting you to engage in transactions beyond certain volume limits. This includes authorizing your wireless operator (AT&T, Sprint, T-Mobile, US Cellular, Verizon, or any other branded wireless operator) to use your mobile number, name, address, email, network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber status details, if available, solely to allow verification of your identity and to compare information you have provided to 247Bids with your wireless operator account profile information for the duration of the business relationship.
- Bidding. When using the 247Bids Services, a user may spend money on virtual credits such as Bids without receipt of physical items. You are solely responsible for your spending, bidding, and purchasing when using the Services. 247Bids is not responsible or liable for your bidding or spending on 247Bids or through any of the Services. Furthermore, you are solely responsible for, and 247Bids is not responsible for and shall not be liable for, any items that you bid on or purchase through the Services. It is your sole responsibility to only purchase items that you have fully read the product descriptions of and are familiar with. You are solely responsible for your purchases.
- Limited License. Each 247Bids bid (a "Bid") is a limited, non-transferable, one-year license to place one bid on a 247Bids auction. Bids have no monetary value; are not credited against the purchase price of products purchased on the Site; and may not be exchanged for money or any items of monetary value. Due to the billing of charges, 247Bids would like to advise all users to monitor their bidding practices. Repeated online bidding can incur high costs. Users should therefore pay attention to their bidding practices.
- Restricted Bidding. You acknowledge that in order to maintain fair and honest auctions, 247Bids retains the right to monitor and enforce any fraudulent or malicious activity on the Site. You acknowledge that you have read what these activities include, but are not limited to, in these Terms, the "House Rules" policy, and you agree not to engage in any of these, or any other fraudulent or malicious activities. As stated herein, 247Bids reserves the right to temporarily or permanently suspend any user account engaged or suspected to engage in any such activities. You may not register and make bids under a false name or with an invalid credit card. Such fraudulent conduct is a violation of federal and state laws. Fraudulent bidders may be reported to relevant state and federal law enforcement agencies and 247Bids will cooperate to ensure that violators are prosecuted to the fullest extent of the law. A bidder may not resell any product or service obtained through the Site and Services without prior written consent from 247Bids. Moreover, a user may not use the products to create any investment scheme, commodities contract or pool or otherwise to use 247Bids as a product delivery mechanism for a brokered or 'middleman' agreement or obligation. If it is discovered that a user is, in fact, reselling products obtained from 247Bids, we reserve the right to suspend the account without further notice, voiding all auctions in which the user has participated. Additionally, the user may be required to compensate 247Bids for any damages.
- Denial of Services. 247Bids reserves the right to refuse any order you place with us. 247Bids may, in its sole discretion, limit or cancel quantities purchased per person, per household or per order. These restrictions may include orders placed by or under the same customer account, the same credit card, geographic region, and/or orders that use the same phone number, billing and/or shipping address. In the event 247Bids changes or cancels an order, 247Bids will attempt to notify you by contacting the e-mail, billing address and/or phone number provided at the time the order was made. 247Bids reserves the right to limit or prohibit orders that, in its sole judgment, appear to be placed by dealers, resellers, distributors and others who violate these Terms.
- Collusion in Bidding. Any kind of collusion or team play is strictly forbidden on 247Bids. By definition, this includes, but is not limited to, two or more members working together as a team, or creating the impression that there are more people involved and competing to win an auction than there actually are, or placing bids until Buy it Now offers are earned and then switching over to another account to continue to earn further Buy it Now offers on the same deal. 247Bids does not allow two members that know, or are associated with, each other to participate in the same auction. Two members participating in the auction are by definition engaging in team play, and automatically lose their right to purchase the Deal or receive any of their spent bids back. We reserve the right to disqualify, in our absolute discretion, any users we suspect to be working in a team by voiding all their wins and freezing their accounts. No funds or Bids will be returned or transferred into other accounts. If a user is found to have violated these Terms, any free Bids provided to them and used, including those provided in the past, must immediately be paid for by user at their current selling price.
- Bid Packages. All prices are quoted and payments processed in United States dollars. The user is responsible for conversion rates and fees which may occur in case of a currency conversion done by their bank or payment processor. 247Bids Bids must be purchased by users prior to online bidding. Only registered users can submit the online bids, which can be purchased in packages (so-called 'Bid Packs') at the currently applicable prices, which can be viewed in 'My Dashboard' under 'Buy bids'. The Bids must be paid for in advance. When the Bids are purchased and deposited into the user's 247Bids account, a contract for the purchase of the Bids materializes. The associated invoice is due immediately. If a user is suspended for whatever reason, all of their Bids will be forfeited and will not be refunded. Users who have won an auction and paid for a product are not eligible for a refund on either Bid purchases, account activation fees, or product fees if their product has been shipped by the time of request. Should a payment not be honored for a user, a returned payment fee will be charged. The user shall be solely responsible for these fees. 247Bids reserves the right to block access to the user account until full payment is received by 247Bids for the outstanding amount, including any fees due to returned payment, etc. 247Bids may withhold any outstanding deliveries until it receives full payment. The user's bank may or may not charge the user an international payment fee in connection with a credit card payment on the 247Bids site. It is the sole responsibility of the user to be familiar with the policies and practices of his or her bank for such fees. 247Bids holds no responsibility for additional payment fees of any kind issued to the user by the user's bank.
- Discounts. 247Bids reserves the right to sell Bids at any discounted price to specific user groups for promotional purposes. All 247Bids users understand that they may from time to time receive unique offers to buy discounted Bids and that other users may do so as well. Similarly, users may see different product pricing, based partly on the activity characteristics of that user. 247Bids may issue any number of free bids to users or user groups as part of special promotions or for any other reasons at its discretion. 247Bids reserves the right to, at its discretion, remove any sign up or other promotional Bids that have been added to a user's account for free at any given time without further notice.
5. Conversion Services.
- In General. Eligible users in certain jurisdictions may buy or sell supported Digital Currency through the Conversion Services. The Conversion Services are subject to the 247Bids "Conversion Rate" for the given transaction. "Conversion Rate" means the price of a given supported Digital Currency amount in terms of Fiat Currency or other Digital Currency as quoted on the 247Bids Site. The Conversion Rate is stated either as a "Buy Price" or as a "Sell Price," which is the price in terms of Fiat Currency or Digital Currency at which you may buy or sell supported Digital Currency to 247Bids. You acknowledge that the quoted Buy Price Conversion Rate may not be the same as the Sell Price Conversion Rate at any given time, and that 247Bids may add a margin or “spread” to the quoted Conversion Rate. You agree, as a condition of using any 247Bids Conversion Services, to accept the Conversion Rate as the sole conversion metric. 247Bids reserves the right to delay any Conversion Service transaction if it perceives a risk of fraud or illegal activity. 247Bids does not guarantee the availability of its Conversion Service, and the act of purchasing supported Digital Currency from 247Bids does not result in a guarantee that you may sell your supported Digital Currency to 247Bids.
- Purchase Transactions. After successfully completing the verification process, you may purchase supported Digital Currency by linking a valid payment method. You authorize 247Bids to initiate debits from your selected payment method(s) in settlement of purchase transactions. A Conversion Fee (defined below) applies to all purchase transactions. Although 247Bids will attempt to deliver supported Digital Currency to you as promptly as possible, funds may be debited from your selected payment method before Digital Currency is delivered to your 247Bids Account. We may debit your selected payment method, such as your bank account or credit card, as soon as the same day you initiate the purchase but your payment may take three or more business days to process. We will make best efforts to fulfill all transactions, but in the rare circumstance where 247Bids cannot fulfill your purchase order, we will notify you and seek your approval to fulfill the purchase order at the contemporaneous Buy Price Conversion Rate. To secure the performance of your obligations under this Agreement, you grant to 247Bids a lien on and security interest in and to the balances in your account.
- Sale Transactions. After successfully completing the verification process, you may sell supported Digital Currency by linking a valid payment method. You authorize 247Bids to debit your 247Bids Account(s) and initiate payments to your selected payment method(s) in settlement of sell transactions. An applicable Conversion Fee (defined below) applies to all sale transactions. Your receipt of funds will depend on the payment type, and may take up to three or more business days.
- Conversion Fees. Each Conversion Service transaction is subject to a fee (a "Conversion Fee"). The applicable Conversion Fee is displayed to you on the 247Bids Site or mobile app prior to you completing a Conversion Service transaction. 247Bids will not process a conversion transaction if the Conversion Fee and any other associated fees as may apply, such as wire transfer fees, exceed the value of your transaction. 247Bids may waive some portion of the Conversion Fee depending on the payment method you select. The availability of each Payment Method depends on a number of factors, including but not limited to your location, the identification information you have provided to us, and limitations imposed by third party payment processors. You can view the current fee applicable to your location and payment method at our fees page. 247Bids reserves the right to adjust its Conversion Fees and any applicable waivers at any time. We will always notify you of the Conversion Fee which applies to your transaction when you authorize the transaction and in each receipt we issue to you.
- Reversals; Cancellations. You cannot cancel, reverse, or change any transaction marked as complete or pending. If your payment is not successful or if your payment method has insufficient funds, you authorize 247Bids, in its sole discretion, either to cancel the transaction or to debit your other payment methods, including 247Bids balances or other linked accounts, in any amount necessary to complete the transaction. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, NSF, or similar fees charged by your payment provider. 247Bids reserves the right to refuse to process, or to cancel or reverse, any purchases or sales of Digital Currency in its sole discretion, even after funds have been debited from your account(s), if 247Bids suspects the transaction involves (or has a high risk of involvement in) money laundering, terrorist financing, fraud, or any other type of financial crime; in response to a subpoena, court order, or other government order; if 247Bids reasonably suspects that the transaction is erroneous; or if 247Bids suspects the transaction relates to Prohibited Use or a Prohibited Business as set forth below. In such instances, 247Bids will reverse the transaction and we are under no obligation to allow you to reinstate a purchase or sale order at the same price or on the same terms as the cancelled transaction.
- Recurring Transactions. If you initiate recurring Conversion Service transactions, you authorize 247Bids to initiate recurring electronic payments in accordance with your selected Conversion Service and any corresponding payment accounts, such as recurring automated clearing house (ACH) debit or credit entries from or to your linked bank account. Your recurring transactions will occur in identical, periodic installments, based on your period selection (e.g., daily, weekly, monthly), until either you or 247Bids cancels the recurring order. If you select a U.S. Bank Account as your payment method for a recurring transaction, and such transaction falls on a weekend or holiday, or after bank business hours, the ACH credit or debit will be executed on the next business day, although the Digital Currency Conversion Rate at the time of the regularly- scheduled transaction will apply. If your Bank is unable to process any electronic ACH debit entry, 247Bids will notify you of cancellation of the transaction and may avail itself of remedies set forth in this User Agreement to recover any amount owed to 247Bids. You agree to notify 247Bids in writing of any changes in your linked bank account information prior to a recurring transaction. 247Bids may, at any time, terminate recurring transactions by providing notice to you.
- Payment Services Partners. 247Bids may use a third party payment processor to process any Euro payment between you and 247Bids, including but not limited to payments in relation to your use of the Conversion Service or deposits or withdrawals from your EUR Wallet or 247Bids Pro Account.
6. General Use, Prohibited Use, and Termination.
- Limited License. We grant you a limited, nonexclusive, nontransferable license, subject to the terms of this Agreement, to access and use the 247Bids Site, and related content, materials, information (collectively, the "Content") solely for approved purposes as permitted by 247Bids from time to time. Any other use of the 247Bids Site or Content is expressly prohibited and all other right, title, and interest in the 247Bids Site or Content is exclusively the property of 247Bids and its licensors. 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 Content, in whole or in part. "http://247bids.com", "247Bids", and all logos related to the 247Bids Services or displayed on the 247Bids Site are either trademarks or registered marks of 247Bids or its licensors. You may not copy, imitate or use them without 247Bids's prior written consent.
- Website Accuracy. Although we intend to provide accurate and timely information on the 247Bids Site, the 247Bids Site (including, without limitation, the Content) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the 247Bids Site are your sole responsibility and we shall have no liability for such decisions. Links to third-party materials (including without limitation websites) may be provided as a convenience but are not controlled by us. You acknowledge and agree that we are not responsible for any aspect of the information, content, or services contained in any third-party materials or on any third party sites accessible or linked to the 247Bids Site,
- Third-Party Applications. If, to the extent permitted by 247Bids from time to time, you grant express permission to a third party to access or connect to your 247Bids Account, either through the third party's product or service or through the 247Bids Site, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. You are fully responsible for all acts or omissions of any third party with access to your 247Bids Account. Further, you acknowledge and agree that you will not hold 247Bids responsible for, and will indemnify 247Bids from, any liability arising out of or related to any act or omission of any third party with access to your 247Bids Account. You may change or remove permissions granted by you to third parties with respect to your 247Bids Account at any time through the Account Settings (Integrations) page on the 247Bids Site.
- Prohibited Use. In connection with your use of the 247Bids Services, and your interactions with other users, and third parties you agree and represent you will not engage in any Prohibited Business or Prohibited Use defined herein. We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process or governmental request. We reserve the right to cancel and/or suspend your 247Bids Account and/or block transactions or freeze funds immediately and without notice if we determine, in our sole discretion, that your Account is associated with a Prohibited Use and/or a Prohibited Business.
- Transactions Limits. The use of all 247Bids Services is subject to a limit on the amount of volume, stated in Euro terms, you may transact or transfer in a given period (e.g., daily). 247Bids reserves the right to change applicable limits as we deem necessary in our sole discretion. If you wish to raise your limits beyond the posted amounts, you may submit a request at [email protected] We may require you to submit additional information about yourself or your business, provide records, and arrange for meetings with 247Bids staff (such process, "Enhanced Due Diligence"). 247Bids reserves the right to charge you costs and fees associated with Enhanced Due Diligence, provided that we notify you in advance of any such charges accruing. In our sole discretion, we may refuse to raise your limits or we may lower your limits at a subsequent time even if you have completed Enhanced Due Diligence.
- Suspension, Termination, and Cancellation. 247Bids may: (a) suspend, restrict, or terminate your access to any or all of the 247Bids Services, and/or (b) deactivate or cancel your 247Bids Account if: We are so required by a facially valid subpoena, court order, or binding order of a government authority; or We reasonably suspect you of using your 247Bids Account in connection with a Prohibited Use or Business; or Use of your 247Bids Account is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your Account activity; or Our service partners are unable to support your use; or You take any action that 247Bids deems as circumventing 247Bids's controls, including, but not limited to, opening multiple 247Bids Accounts or abusing promotions which 247Bids may offer from time to time.
- If 247Bids suspends or closes your account, or terminates your use of 247Bids Services for any reason, we will provide you with notice of our actions unless a court order or other legal process prohibits 247Bids from providing you with such notice. You acknowledge that 247Bids's decision to take certain actions, including limiting access to, suspending, or closing your account, may be based on confidential criteria that are essential to 247Bids's risk management and security protocols. You agree that 247Bids is under no obligation to disclose the details of its risk management and security procedures to you.
- You will be permitted to transfer Digital Currency or funds associated with your Hosted Digital Currency Wallet(s) and/or your EUR Wallet(s) for ninety (90) days after Account deactivation or cancellation unless such transfer is otherwise prohibited (i) under the law, including but not limited to applicable sanctions programs, or (ii) by a facially valid subpoena or court order. You may cancel your 247Bids Account at any time by withdrawing all balances and visiting https://eo.exchange/cancel. You will not be charged for canceling your 247Bids Account, although you will be required to pay any outstanding amounts owed to 247Bids. You authorize us to cancel or suspend any pending transactions at the time of cancellation.
- Relationship of the Parties. 247Bids is an independent contractor for all purposes. Nothing in this Agreement shall be deemed or is intended to be deemed, nor shall it cause, you and 247Bids to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or 247Bids to be treated as the agent of the other.
- Privacy of Others; Marketing. If you receive information about another user through the 247Bids Services, you must keep the information confidential and only use it in connection with the 247Bids Services. You may not disclose or distribute a user's information to a third party or use the information except as reasonably necessary to effectuate a transaction and other functions reasonably incidental thereto such as support, reconciliation and accounting unless you receive the user's express consent to do so. You may not send unsolicited email to a user through the 247Bids Services.
- Password Security; Contact Information. You are responsible for maintaining adequate security and control of any and all IDs, passwords, hints, personal identification numbers (PINs), API keys or any othercodes that you use to access the 247Bids Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your 247Bids Account by third-parties and the loss or theft of any Digital Currency and/or funds held in your 247Bids Account and any associated accounts, including your linked bank account(s) and credit card(s). You are responsible for keeping your email address and telephone number up to date in your Account Profile in order to receive any notices or alerts that we may send you. We assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of 247Bids and/or failure to follow or act on any notices or alerts that we may send to you. In the event you believe your 247Bids Account information has been compromised, contact 247Bids Support immediately at [email protected]
- Taxes. It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the 247Bids Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Your transaction history is available through your 247Bids Account.
- Unclaimed Property. If 247Bids is holding funds in your account, and 247Bids is unable to contact you and has no record of your use of the Services for several years, applicable law may require 247Bids to report these funds as unclaimed property to the applicable jurisdiction. If this occurs, 247Bids will try to locate you at the address shown in our records, but if 247Bids is unable to locate you, it may be required to deliver any such funds to the applicable state or jurisdiction as unclaimed property. 247Bids reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
7. Customer Feedback, Queries, Complaints, and Dispute Resolution.
- Contact 247Bids. If you have any feedback, questions, or complaints, contact at [email protected] When you contact us please provide us with your name, address, and any other information we may need to identify you, your 247Bids Account, and the transaction on which you have feedback, questions, or complaints.
- Arbitration; Waiver of Class Action. If you have a dispute with 247Bids, we will attempt to resolve any such disputes through our support team. If we cannot resolve the dispute through our support team, you and we agree that any dispute arising under this Agreement shall be finally settled in binding arbitration, on an individual basis, in accordance with the American Arbitration Association's rules for arbitration of consumer-related disputes (accessible at https://www.adr.org/sites/default/files/Consumer%2 0Rules.pdf) and you and 247Bids hereby expressly waive trial by jury and right to participate in a class action lawsuit or class-wide arbitration. The arbitration will be conducted by a single, neutral arbitrator and shall take place in the county or parish in which you reside, or another mutually agreeable location, in the English language. The arbitrator may award any relief that a court of competent jurisdiction could award, including attorneys' fees when authorized by law, and the arbitral decision may be enforced in any court. At your request, hearings may be conducted in person or by telephone and the arbitrator may provide for submitting and determining motions on briefs, without oral hearings. The prevailing party in any action or proceeding to enforce this agreement shall be entitled to costs and attorneys' fees. If the arbitrator(s) or arbitration administrator would impose filing fees or other administrative costs on you, we will reimburse you, upon request, to the extent such fees or costs would exceed those that you would otherwise have to pay if you were proceeding instead in a court. We will also pay additional fees or costs if required to do so by the arbitration administrator's rules or applicable law. Apart from the foregoing, each Party will be responsible for any other fees or costs, such as attorney fees that the Party may incur. If a court decides that any provision of this section 7.2 is invalid or unenforceable, that provision shall be severed and the other parts of this section 7.2 shall still apply. In any case, the remainder of this User Agreement, will continue to apply.
8. General Provisions.
- Computer Viruses. We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from 247Bids. Always log into your 247Bids Account through the 247Bids Site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
- Release of 247Bids; Indemnification. If you have a dispute with one or more users of the 247Bids services, you release 247Bids, its affiliates and service providers, and each of their respective officers, directors, agents, joint venturers, employees and representatives from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. You agree to indemnify and hold 247Bids, its affiliates and Service Providers, and each of its or their respective officers, directors, agents, joint venturers, employees and representatives, harmless from any claim or demand (including attorneys' fees and any fines, fees or penalties imposed by any regulatory authority) arising out of or related to your breach of this Agreement or your violation of any law, rule or regulation, or the rights of any third party.
- Limitation of Liability; No Warranty. IN NO EVENT SHALL 247BIDS, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE (A) FOR ANY AMOUNT GREATER THAN THE VALUE OF THE SUPPORTED DIGITAL CURRENCY ON DEPOSIT IN YOUR 247BIDS ACCOUNT OR (B) FOR ANY LOST PROFITS OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE 247BIDS SITE OR THE 247BIDS SERVICES, OR THIS AGREEMENT, EVEN IF AN AUTHORIZED REPRESENTATIVE OF 247BIDS HAS BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES. THIS MEANS, BY WAY OF EXAMPLE ONLY (AND WITHOUT LIMITING THE SCOPE OF THE PRECEDING SENTENCE), THAT IF YOU CLAIM THAT 247BIDS FAILED TO PROCESS A BUY OR SELL TRANSACTION PROPERLY, YOUR DAMAGES ARE LIMITED TO NO MORE THAN THE VALUE OF THE SUPPORTED DIGITAL CURRENCY AT ISSUE IN THE TRANSACTION, AND THAT YOU MAY NOT RECOVER FOR LOST PROFITS, LOST BUSINESS OPPORTUNITES, OR OTHER TYPES OF SPECIAL, INCIDENTIAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES IN EXCESS OF THE VALUE OF THE SUPPORTED DIGITAL CURRENCY AT ISSUE IN THE TRANSACTION. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU. THE 247BIDS SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, 247BIDS SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. 247BIDS DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE SITE, ANY PART OF THE 247BIDS SERVICES, OR ANY OF THE MATERIALS CONTAINED THEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR- FREE.
- 247Bids makes no representations about the accuracy or completeness of historical Digital Currency price data available on the Site. 247Bids will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards, and check issuances are processed in a timely manner but 247Bids makes no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control.
- Amendments. We may amend or modify this Agreement by posting on the 247Bids Site or emailing to you the revised Agreement, and the revised Agreement shall be effective at such time. If you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your account. You agree that we shall not be liable to you or any third party for any modification or termination of the 247Bids Services, or suspension or termination of your access to the 247Bids Services, except to the extent otherwise expressly set forth herein. If the revised Agreement includes a material change, we will endeavor to provide you advanced notice via our website and/or email before the material change becomes effective.
- Assignment. You may not assign any rights and/or licenses granted under this Agreement. We reserve the right to assign our rights without restriction, including without limitation to any 247Bids affiliates or subsidiaries, or to any successor in interest of any business associated with the 247Bids Services. Any attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.
- Severability. If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law or regulation or any governmental agency, local, state, or federal, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of this Agreement shall not be affected.
- Change of Control. In the event that 247Bids is 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.
- 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, 247Bids Account cancellation, debts owed to 247Bids, general use of the 247Bids Site, disputes with 247Bids, and general provisions, shall survive the termination or expiration of this Agreement.
- Governing Law. You agree that the laws of the State of Illinois, without regard to principles of conflict of laws, will govern this Agreement and any claim or dispute that has arisen or may arise between you and 247Bids, except to the extent governed by law.
- Force Majeure. We shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.
- English Language Controls. Notwithstanding any other provision of this Agreement, any translation of this Agreement is provided for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.
- Non-Waiver of Rights. This agreement shall not be construed to waive rights that cannot be waived under applicable state money transmission laws in the state where you are located.
/s/ 247Bids, LLC Dated: May, 2019
PROHIBITED USE, PROHIBITED BUSINESSES AND CONDITIONAL USE
- Prohibited Use. You may not use your 247Bids Account to engage in the following categories of activity ("Prohibited Uses"). The specific types of use listed below are representative, but not exhaustive. If you are uncertain as to whether or not your use of 247Bids Services involves a Prohibited Use, or have questions about how these requirements apply to you, please contact us at [email protected] By opening a 247Bids Account, you confirm that you will not use your Account to do any of the following:
- Unlawful Activity: Activity which would violate, or assist in violation of, any law, statute, ordinance, or regulation, sanctions programs administered in the countries where 247Bids conducts business, including but not limited to the U.S. Department of Treasury's Office of Foreign Assets Control ("OFAC"), or which would involve proceeds of any unlawful activity; publish, distribute or disseminate any unlawful material or information Abusive Activity: Actions which impose an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information; transmit or upload any material to the 247Bids Site that contains viruses, trojan horses, worms, or any other harmful or deleterious programs; attempt to gain unauthorized access to the 247Bids Site, other 247Bids Accounts, computer systems or networks connected to the 247Bids Site, through password mining or any other means; use 247Bids Account information of another party to access or use the 247Bids Site, except in the case of specific Merchants and/or applications which are specifically authorized by a user to access such user's 247Bids Account and information; or transfer your account access or rights to your account to a third party, unless by operation of law or with the express permission of 247Bids
- Abuse Other Users: Interfere with another individual's or entity's access to or use of any 247Bids Services; defame, abuse, extort, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others; incite, threaten, facilitate, promote, or encourage hate, racial intolerance, or violent acts against others; harvest or otherwise collect information from the 247Bids Site about others, including without limitation email addresses, without proper consent
- Fraud: Activity which operates to defraud 247Bids, 247Bids users, or any other person; provide any false, inaccurate, or misleading information to 247Bids
- Gambling: Lotteries; bidding fee auctions; sports forecasting or odds making; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; games of chance
- Intellectual Property Infringement: Engage in transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law, including but not limited to sales, distribution, or access to counterfeit music, movies, software, or other licensed materials without the appropriate authorization from the rights holder; use of 247Bids intellectual property, name, or logo, including use of 247Bids trade or service marks, without express consent from 247Bids or in a manner that otherwise harms 247Bids or the 247Bids brand; any action that implies an untrue endorsement by or affiliation with 247Bids
- Prohibited Businesses. In addition to the Prohibited Uses described above, the following categories of businesses, business practices, and sale items are barred from 247Bids Services ("Prohibited Businesses"). Most Prohibited Businesses categories are imposed by Card Network rules or the requirements of our banking providers or processors. The specific types of use listed below are representative, but not exhaustive. If you are uncertain as to whether or not your use of 247Bids Services involves a Prohibited Business, or have questions about how these requirements apply to you, please contact us at [email protected] By opening a 247Bids Account, you confirm that you will not use 247Bids Services in connection with any of following businesses, activities, practices, or items:
- Investment and Credit Services: Securities brokers; mortgage consulting or debt reduction services;
- credit counseling or repair; real estate opportunities; investment schemes
- Restricted Financial Services: Check cashing, bail bonds; collections agencies.
- Intellectual Property or Proprietary Rights Infringement: Sales, distribution, or access to counterfeit music, movies, software, or other licensed materials without the appropriate authorization from the rights holder
- Counterfeit or Unauthorized Goods: Unauthorized sale or resale of brand name or designer products or services; sale of goods or services that are illegally imported or exported or which are stolen Regulated Products and Services: Marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age restricted goods or services; weapons and munitions; gunpowder and other explosives; fireworks and related goods; toxic, flammable, and radioactive materials; products and services with varying legal status on a state-by-state basis Drugs and Drug Paraphernalia: Sale of narcotics, controlled substances, and any equipment designed for making or using drugs, such as bongs, vaporizers, and hookahs
- Pseudo-Pharmaceuticals: Pharmaceuticals and other products that make health claims that have not been approved or verified by the applicable local and/or national regulatory body
- Substances designed to mimic illegal drugs: Sale of a legal substance that provides the same effect as an illegal drug (e.g., salvia, kratom)
- Adult Content and Services: Pornography and other obscene materials (including literature, imagery and other media); sites offering any sexually- related services such as prostitution, escorts, pay- per view, adult live chat features
- Multi-level Marketing: Pyramid schemes, network marketing, and referral marketing programs Unfair, predatory or deceptive practices: Investment opportunities or other services that promise high rewards; Sale or resale of a service without added benefit to the buyer; resale of government offerings without authorization or added value; sites that we determine in our sole discretion to be unfair, deceptive, or predatory towards consumers
- High risk businesses: any businesses that we believe poses elevated financial risk, legal liability, or violates card network or bank policies
- Conditional Use. Express written consent and approval from 247Bids must be obtained prior to using 247Bids Services for the following categories of business and/or use ("Conditional Uses"). Consent may be requested by contacting us at [email protected] 247Bids may also require you to agree to additional conditions, make supplemental representations and warranties, complete enhanced on-boarding procedures, and operate subject to restrictions if you use 247Bids Services in connection with any of following businesses, activities, or practices:
- Money Services: Money transmitters, Digital Currency transmitters; currency or Digital Currency exchanges or dealers; gift cards; prepaid cards; sale of in-game currency unless the merchant is the operator of the virtual world; act as a payment intermediary or aggregator or otherwise resell any of the 247Bids Services Charities: Acceptance of donations for nonprofit enterprise
- Games of Skill: Games which are not defined as gambling under this Agreement or by law, but which require an entry fee and award a prize Religious/Spiritual Organizations: Operation of a for-profit religious or spiritual organization
VERIFICATION PROCEDURES AND LIMITS
As a regulated financial service company operating in the US we are required to identify users on our platform. This ensures we remain in compliance with KYC/AML laws in the jurisdictions in which we operate, something that is necessary for us to be able to continue to offer digital currency exchange services to our customers. 247Bids collects and verifies information about you in order to: (a) protect 247Bids and the community from fraudulent users, and (b) to keep appropriate records of 247Bids's customers. Your daily or weekly Conversion limits, 247Bids Pro deposit, withdrawal and trading limits, Instant Buy limits, EUR Wallet transfer limits, and limits on transactions from a linked payment method are based on the identifying information and/or proof of identity you provide to 247Bids. Notwithstanding these minimum verification procedures for the referenced 247Bids Services, 247Bids may require you to provide or verify additional information, or to wait some amount of time after completion of a transaction, before permitting you to use any 247Bids Services and/or before permitting you to engage in transactions beyond certain volume limits.