KoinKoin is a African-focused digital assets exchange where fiat meets cryptocurrency. In a post-Brexit and post-pandemic world, KoinKoin makes it easier to buy, sell and transfer digital assets across Africa, South East Asia, and Western Europe.
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KOINKOIN and the third party using the site in the Internet network located at https://koinkoin.io/ have concluded the present Agreement on the following conditions.
In the present Agreement the following terms have the meaning indicated below, unless otherwise is stipulated:
1.1. Agreement means the present User Agreement.
1.2. Account means functional part of the System that controls User’s Funds and operations conducted with them.
1.3. Anti-Money Laundering Policy means program on prevention of laundering of money derived from criminal activity and financing of terrorism, which constitutes an essential part of the Agreement which text is available at https://koinkoin.com/#/terms
1.4. Chat means the System's function intended for instant messaging between the Users.
1.5. Cryptocurrency means peer-to-peer digital currency that has no central issuer and is distributed directly between the owners of such currency.
1.6. Deal means agreement on onerous alienation of rights on Cryptocurrency concluded between the Users of KOINKOIN.
1.7. Deposit means a transaction involving a transfer of Funds to the Account.
1.8. KoinKoin Global Network Limited is registered with CAC Nigeria under RC1526364 at 6 Akiogun Road VIctoria Island Lagos Nigeria and operates as “KoinKoin” in Nigeria. KoinKoin does not operate or provide any digital assets services to individuals in the United Kingdom.
1.9. Exchange Rate means relation between the amount of Funds and the price offered by the User for Deals of exchanging Funds.
1.10. Fees mean rewards payed to KOINKOIN by the parties of deals and the prices for additional services rendered by KOINKOIN constantly available at https://koinkoin.com/#/fees .
1.11. Fiat money means government-issued currency that is designated as legal tender in its country of issuance on the legislative level.
1.12. Funds mean Fiat money and Cryptocurrency used during the execution of Deals.
1.13. Margin Deal means deal executed with the use of the Funds provided by to the Client in returned and refundable use.
1.14. Margin Level means the amount of Funds in the User Account necessary for execution of a Margin Deal expressed in a percentage ratio to the amount of Funds provided to the User.
1.15. Order means User's offer to close a Deal on certain conditions.
1.16. Parties mean KOINKOIN and the User.
1.17. Personal Cabinet means set of protected pages created as a result of the User registration in the System, using which the User can to place Orders for further execution of Deals as well as instruct the KOINKOIN commissions stipulated by the present Agreement. The Personal Cabinet reflects information about placed and cancelled Orders, closed Deals, available funds and/or Cryptocurrency and other information determined by the functions of the Site.
1.18. Privacy Policy means rules of collection, storage, distribution and protection of personal data that the KOINKOIN gets from the Users and that is an essential part of the Agreement which text is available at https://koinkoin.com/#/policy .
1.19. Site means set of information, texts, graphic and design elements, pictures, photo, video and other fruits of intellectual activity, as well as set of computer programs contained in the information system which ensures the accessibility of this information at https://koinkoin.com/ .
1.20. Services mean all and any service provided by KOINKOIN.
1.21. System means set of software and technical means used by the KOINKOIN in automatic mode to process operations conducted by the User in his/her Personal Cabinet.
1.22. User means capable under personal law natural person or business entity formatted in the appropriate legal form according to local legislation that use the Site and/or the System and has concluded the corresponding Agreement with KOINKOIN.
1.23. User Account Data means User Data necessary to access and use the System – login, password, email and other data indicated during the registration process as well as after it.
1.24. Withdrawal means a transaction involving a transfer of Funds from the User’s Account.
1.25. Stopout - forced closure of trading position at a market price, in order to protect the financial interests of participants in the Marginal Deal from the negative balance of the Account.
1.26. Leverage is the ratio of the User's own funds to the volume of trading operations that it can perform at the expense of the Funds granted to it under a Loan agreement.
The rest of terms and definitions that can be found in the text of the Agreement should be interpreted by the Parties according to the legislation of the UK and to the general rules of interpretation of such terms accepted in the Internet network.
The titles of different sections (articles) of the Agreement have been put with the only objective to make the text more comfortable for the reader and do not have any literal legal effect.
2.1. Under the Agreement KOINKOIN renders to the User the
following services:
grants access to the
System in order to carry out Deals;
grants access to the
Account within the System;
gives the possibility to
carry out Margin deals;
provides information
necessary for the use of the System and carrying out Deals.
2.2. Depending on the User’s place of residence, the User may not be able to use all the functions of the Site. It is the User’s responsibility to follow those rules and laws in his/her place of residence and/or place from which the User accesses this Site.
2.3. The User acknowledges and agrees that, when completing Trading Transactions, he/she is trading with other User, and that KOINKOIN is not a counterparty to any trade.
2.4. Essential parts of the present Agreement are sections dedicated to Privacy policy, Anti-Money Laundering Policy, and the Fees.
3.1. KOINKOIN grants the User access to the information about the System, Currency Rates offered by other Users, closed Deals and about placed Orders before the registration process is completed.
3.2. In order to get access to the System, the User should complete the registration process. After that the User will get access to the Personal Cabinet created on the basis of the User Account Data.
3.3. The User is responsible for setting up a password during the registration process. The User can change the password any time after the registration process is completed. The User commits to safeguard password and User Account Data from the access of third parties and is the one to determine the best way to save this data and take steps to prevent it from being discredited. In case of loss or discrediting the password and/or the User Account Data as well as in cases when third parties illegally obtain access to the User’s Personal Cabinet, the User has to inform the KOINKOIN about these circumstances by contacting the technical support team (support@koinkoin.com). Until KOINKOIN receives the corresponding message, all the actions made from the User Personal Cabinet will be considered as made by the proper User as the holder of the Account.
3.4. The User has the right to hold and use only one Personal Cabinet and cannot use two or more Personal Cabinets. Such actions will be considered as violation of this Agreement.
3.5. The User gets access to the Chat after replenishing the
Account with the sum equal to or exceeding 1000,00 (one
thousand) USD regardless of the kind of Funds. While using the
Chat, the User is prohibited to:
insult and threaten other
users and/or KOINKOIN staff. This is considered as a direct
violation of the rules of chat use and may result in a
permanent ban of the User;
use any forms of obscene
language;
make statements stirring
up to international dissention, containing violence propaganda
or offending religious feelings of other Users;
send any kind of external
links;
text messages in capital
letters only;
repeatedly text the same
information or constantly repeat the same phrase;
offer to buy or sell the
Funds;
advertise products or
services of other companies;
flood, spam and discuss
topics that are not related to cryptocurrency or the exchange;
providing false or
misleading information about exchange.
4.1. After registration in the System the User gets access to his/her Account in the Personal Cabinet. The User can operate personally using his/her Account and the Personal Cabinet as well as instruct the System to execute operations with their Account automatically.
4.2. The KOINKOIN platform indicates in the Personal Cabinet the information necessary for the replenishment of the Account and for the withdrawal of Funds from the Account.
4.3. To replenish the Account the User has to transfer Funds according to the bank details indicated by KOINKOIN in the User Personal Cabinet. The User is responsible for paying commissions and service fees related to the transfer as well as assume the risks of indicating an incorrect bank account details.
4.4. The Account is considered to be replenished when the corresponding amount of money enters the current account of KOINKOIN or when a corresponding message appears in the KOINKOIN wallet about receiving not less than 6 (six) confirmations.
4.5. The KOINKOIN platform commits to receive Cryptocurrency items from Users, keep them, keep a record of them, execute transactions and provide them to the Users upon their request.
4.6. The KOINKOIN platform keeps a record of the funds transferred to the Account and does not keep Users’ money. Money transfers during the Account replenishment as well while executing Deals between the Users are carried out by third parties (aggregators, payment institutions and other facilitators). KOINKOIN is not liable for actions of these third parties.
4.7. All Account operations are carried out at User’s request. The KOINKOIN platform does not accept orders on carrying out any operation with the User Account from third persons except otherwise is stipulated by the Agreement or other agreements between the Parties.
4.8. All the Funds placed on the Account belong to the User. The KOINKOIN platform cannot block Funds on the Account without the order emitted by the User as well as can write-off Funds only in cases stipulated by the Agreement.
4.9. Interests do not apply to the remainder amount of Funds in the User Account, and KOINKOIN is not committed to pay the abovementioned interests.
4.10. To withdraw Funds from the Account, the User has to fill the corresponding form in their Personal Cabinet. The User will get a message to the email address indicated during the registration process asking to confirm or to deny the withdrawal operation. In case the User denies or does not confirm the withdrawal, the Funds will remain in the Account.
4.11. The System sets some restrictions for Funds withdrawals and the User cannot instigate withdraw Funds during 3 (three) days after changing User Account Data, which includes changing or restoring password, and also changing authorization method.
4.12. The User acknowledges and agrees that Deposit and Withdrawal Transaction in Fiat currency may be delayed due to bank verifications and checks, for a period up to one (1) month. Similarly and due to the inherent nature of the cryptocurrency networks, the User acknowledges and agrees that depositing and withdrawing Cryptocurrencies into/from his/her Account may take between one (1) hour and seventy two (72) hours, barring unforeseen or unavoidable network issues.
4.13. Unverified users are not allowed to withdraw any Cryptocurrencies from their Account within forty-eight (48) hours after the Account was created.
4.14. In case if the User discovers suspicious transaction activity, including but not limited to unknown deposits and withdrawals, on his/her Account that was not initiated by the User, the User shall immediately notify KOINKOIN of this fact and follow the instructions sent by KOINKOIN. Otherwise, KOINKOIN reserves the right to freeze the Account until the end of investigation.
4.15. KOINKOIN may be forced to cancel or recall already executed Withdrawal Transaction at a request of financial institutions, including but not limited to banks, which are involved in settlement related to deposit and withdrawal of Funds from User`s Accounts. In such cases the User is obliged to cooperate with KOINKOIN in order to discover the reasons for such request.
5.1. The Deals in the System are made on the basis of Orders placed by the User and according to the conditions stipulated by the Parties, taking into consideration the preliminary conditions of the agreement on onerous alienation of rights to Cryptocurrency. KOINKOIN in no circumstances should be considered the dealing party. All the Deals are conducted between the Users on the information support of KOINKOIN.
5.2. The User recognizes that an Order shall only be submitted after careful consideration and understands and accepts consequences of its execution.
5.3. KOINKOIN charges reward for the execution of Deals. The commission rewards are determined by the Fees.
5.4. To place an Order The User has to replenish the Account for the amount indicated in the Order and fill the corresponding form in the page ‘Trades’ or ‘Exchange’ depending on the Order type that can be consulted in the section 6 of the present Agreement.
5.5. The User’s Order is registered in the System after verifying the availability of required amount of Funds on the Account. KOINKOIN controls the possibility of Users to carry out transactions and by this strengthens confidence between the Users and reduces the risk of non-execution of Users’ obligations under the Deals. The System does not register the Order if the Account does not have enough Funds for conducting the Deal.
5.6. User cannot place more than 20 (twenty) Orders at the same time. The System does not register Orders that exceed the indicated amount.
5.7. The User can call back the Order at any moment until its full execution.
5.8. All the Users can consult an Order until it is fully executed or called back. Placed Order represents a User’s proposal to close a Deal.
5.9. The Deal on the placed Order is closed when the System registers a Counter Order placed by another User. Counter Orders are reverse orders that have the same Exchange Rate. The registration of counter orders in the System is considered the User’s acceptance of the offer. The Order is considered executed at the moment of the counter order registration in the System.
5.10. Order can be executed partially. If this happens the System will place another Order for the amount of unencumbered balance of the originally placed Order.
5.11. The execution of the Order is realized by transferring the corresponding Funds indicated in counter orders to Users Accounts. Transfer of these Funds is made automatically by the System. Herewith the actions realized by the System are considered to have been realised at Users request.
5.12. Such actions as placing Orders, calling them back and closing the Deals are reflected in the User Personal Cabinet.
5.13. The information about the closed Deals is available for all the Users during a period of time determined by the KOINKOIN platform.
6.1. Simple buy order
6.1.1. A simple buy Order represents the User’s offer to buy a certain amount of Funds at the Exchange Rate set by the User.
6.1.2. To place a simple buy Order the User has to fill the corresponding form in the Personal Cabinet indicating the amount of Funds to buy and setting the Exchange Rate.
6.1.3. A simple buy Order can be executed at a lower Exchange Rate than the one indicated in the placed Order. Herewith the User will be refunded with the excessively paid part of the commission. A simple buy Order cannot be executed at a higher Exchange Rate than the one indicated in the placed Order.
6.2. Simple sell Order
6.2.1. A simple sell Order represents the User’s offer to sell a certain amount of Funds at the Exchange Rate set by the User.
6.2.2. To place a simple sell Order the User has to fill the corresponding form in the Personal Cabinet indicating the amount of Funds to sell and setting the Exchange Rate.
6.2.3. When placing a simple sell Order the User has the possibility to use additional functions of the System like ‘Stop Loss’ or ‘Trailing Stop’. Marking a special box opposite the corresponding field in the form for placing a simple sell Order is considered the ground for using these functions.
6.2.4. To use ‘Stop Loss’ the User has to indicate in the form the minimum price at which the Order can be executed. If the System Exchange Rate falls the placed Order will be executed when reaches the value indicated by the User in the box ‘Stop Loss’.
6.2.5. To use ‘Trailing Stop’ the User has to indicate in the form the amount of Funds to sell as well as ‘Trailing Stop’ and ‘Stop Loss’ values. The Funds will be offered for sale at a highest current Exchange Rate determined by the System. If the System Exchange Rate starts to raise and will increment by the value indicated in the box ‘Trailing Stop’, the Exchange Rate for the Order placed by the User will increment by a corresponding amount. Herewith ‘Stop Loss’ index will increment by the amount indicated in the box ‘Trailing Stop’.
6.3. Market buy Order
6.3.1. A market buy Order represents the User’s offer to buy a certain amount of Funds without setting the Exchange Rate.
6.3.2. To place a market buy Order the User has to fill the corresponding form in the Personal Cabinet indicating the amount of Funds to buy.
6.3.3. The Order will be executed at the lowest Exchange Rate found among the Orders placed by other Users.
6.3.4. The KOINKOIN reward for the operation will be charged immediately at the moment of Deal closure.
6.4. Market sell Order
6.4.1. A market sell Order represents the User’s offer to sell a certain amount of Funds without setting the Exchange Rate.
6.4.2. To place a market sell Order the User has to fill the corresponding form in the Personal Cabinet indicating the amount of Funds to sell.
6.4.3. The Order will be executed at the highest Exchange Rate found among the Orders placed by other Users.
6.4.4. The KOINKOIN reward for the operation will be charged immediately at the moment of Deal closure.
6.5. Complex buy and sell Order
6.5.1. A complex buy and sell Order represents the User’s offer to buy a certain amount of Funds at the Exchange Rate set by the User and to sell the acquired amount of Funds at the Exchange Rate set by the User. So, when the User places a complex buy and sell Order, the System in its turn places firstly a simple buy Order and when it is executed, places a simple sell Order.
6.5.2. To place a complex buy and sell Order the User has to fill the corresponding form in the Personal Cabinet indicating the amount of Funds to buy and setting the Exchange Rate as well as setting the Exchange Rate to be used during the sale of the acquired Funds.
6.5.3. This type of Order is governed by a set of rules elaborated for simple buy Order and simple sell Order with specificities related to complex buy and sell Order.
7.1. In certain cases stipulated by the Agreement the KOINKOIN gives the User a possibility to make a Margin Deal.
7.2. It is possible to make a Margin Deal using the following Order types:
7.2.1. Simple sell Order;
7.2.2. Simple buy Order;
7.2.3. Complex buy and sell Order but only during the purchase phase.
7.3. Providing of any actions envisaged by the System's functionality aimed at concluding a Marginal Deal (marking in the "Loan"/ "Take a Loan" field, etc.) means the User's consent to the conditions for the implementation of Marginal Transactions.
7.4. The loan agreement is considered concluded from the moment of crediting of Funds to the Account of the User.7.5. The funds are provided to Users on a refundable and onerous basis.
7.5. The funds are provided to Users on a refundable and onerous basis.
7.6. The User should have the necessary margin Level on their Account in order to make a Margin Deal.
7.7. Margin Level amounts to 100% (one hundred percent) of the amount of provided Funds for the Margin Deal. Margin Level can be changed at the agreement with the KOINKOIN but cannot be lower than 25% (twenty five percent) of the amount of provided Funds.
7.8. In case the Margin Deal is closed on the parameters set by the User in the placed Order, the System writes off the User Account the amount of Funds equivalent to the amount of Funds provided on the basis of loan agreement as well as the corresponding commission. The amount of commission is determined by the Fees.
7.9. In case the User acquires a debt as a result of making a Margin Deal, the KOINKOIN has the right to restrict the use of Personal Cabinet until the User replenishes his/her Account for a sum equivalent to the amount of the debt. Herewith the User is obliged to replenish the corresponding Account during 5 (five) working days from the moment of acquiring these liabilities.
7.10. In case of risk that the Margin Level on the User Account can result insufficient, the KOINKOIN has the right, at sole discretion and without previously notifying the User, to decide on the immediate execution of the Order or call it back. The above mentioned actions are not considered as a violation of obligations on behalf of the KOINKOIN.
7.11. The User agrees that KOINKOIN has the right to execute a stop-loss at a Margin Level of less than 30% at a 1: 2 leverage, and this action is not a violation of the obligations of KOINKOIN.
7.12. Tracking changes in the conditions for execution of Marginal transactions and compliance with the performance of margin requirements is a direct duty of the client. KOINKOIN is not liable for any losses that may result from a lack of information or untimely disclosure of the margin requirement. KOINKOIN does not have to inform the User in any way about the execution of the stop-loss (s), or about the sale or liquidation of the User's Funds from his Account in the System, if such account is not replenished as a result of arrears.
8.1. The User is prohibited to conduct Deals omitting the formal procedure of placing Orders by means of using personal messages and other options of the Site and/or the System. In these cases a message ceases to be private and becomes available for moderators and the administration if one of chat users complaints about it.
8.2. The User is prohibited to use the Site and/or the System in any other way than those stipulated in the Agreement; in particular, the User is not allowed to advertise products on the Site in case the Parties have not entered an additional specific agreement.
8.3. The User is prohibited to use the Site and/or the System with unlawful aims including laundering of money derived from criminal activity, financing of terrorism and involvement in extremist activity.
8.4. The User is obliged to go through the identification process established by the System or third parties (aggregators, credit or other organs) during the Deal-making process as well as fulfil the requirements stipulated by UK law in the field of counteraction of laundering (legitimisation) proceeds of crime.
9.1. The User guarantees that he/she understands general
principles of work with Cryptocurrencies and is aware of
Cryptocurrency of the following characteristics affecting its
value and risks related to it:
Price volatility: The
value of cryptocurrencies is extremely volatile. They are
vulnerable to sharp changes in price due to unexpected events
or changes in market sentiment.
Leverage: Leverage
multiplies User’s profits but also potential losses and can
have a significant impact on fees. It also places User at risk
of losing more than his/her initial investment.
Charges and funding
costs: Charges and Fees can include the spread, funding
charges, and commissions.
Price transparency: When
compared with fiat currencies, there can be more significant
variations in the pricing of cryptocurrencies used to
determine the value of User’s position. There is a greater
risk that the User will not receive a fair and accurate price
for the underlying cryptocurrency when trading.
9.2. User should only participate in trading deals if he/she has a sophisticated knowledge of financial markets and fully understands the risks associated with cryptocurrencies.
9.3. The User guarantees that he/she has a right to execute transactions with Cryptocurrency and possesses a full legal capacity.
9.4. The User understands that KOINKOIN in no way influences the Exchange Rate set by the Users, does not give recommendations on Exchange Rate determination and does not forecast the rates. The User is responsible for all economic risks related to choosing particular Exchange Rate. The KOINKOIN does not guarantee that the Deal will be finally closed and that the conditions of this Deal will be of the User’s benefit.
9.5. The User understands that the KOINKOIN in no way bear’s relation to deal conduction and/or transactions related to Cryptocurrency. Correspondingly the KOINKOIN does not assume the responsibility to guarantee terms and/or possibilities of carrying out this or that operation and/or transaction related to Cryptocurrency, which are necessary for Deal making.
9.6. The User understands that all the operations with Cryptocurrency have irreversible character and that Funds acquired during the Deal can be returned only on the basis of additional specific agreement with other User.
10.1. The Site and the System contain fruits of intellectual labour that belongs to KOINKOIN, affiliated persons and other related parties, sponsors, partners, representatives, all the parties acting on behalf of KOINKOIN and other third parties.
10.2. By using the Site and the System the User acknowledges and agrees that all Site content and the structure of Site content are protected by copyright, trademark and other rights concerning the results of intellectual activity, and that the abovementioned rights are authentic and are protected in their every form, in all carriers and regarding all existing and created later technologies. No rights as well as no Site nor System content are committed to the User as a result of Site and System use or on the conclusion of the Agreement.
10.3. To avoid any misunderstanding the User is prohibited to:
copy and/or diffuse any
items of intellectual property published on the Site and/or in
the System except when this function is clearly contemplated
by the Site and/or the System;
copy or use in any other
way the program part of the Site and/or the System as well as
its design;
diffuse on the Site
and/or in the System personal data of third persons without
their permission;
change in any way the
program part of the Site and/or the System, take any actions
aimed at changing the functionality and operability of the
Site and/or the System;
use insults or any words
violating rights and liberties of third persons as a login
(nickname, alias) during the registration.
11.1. In case the User violates the conditions of the present Agreement, the legislation of the UK, morality norms or in case he/she conspires with another User to violate the conditions of the Agreement, the KOINKOIN will have the right to block or delete the User’s Personal Cabinet, prohibit or restrict their access to certain or all functions of the System using his/her Personal Cabinet.
11.2. In case the User violates the terms of the return of Funds provided under the Marginal Deal, KOINKOIN is entitled to demand from the User payment of a penalty amounted to 1% (one percent) of the Funds provided to the User for each day of delay.
11.3. If the KOINKOIN detects that the User has violated paragraph 8 of the present Agreement, the KOINKOIN will have the right to delete the User’s Personal Cabinet and demand indemnity for losses.
11.4. The KOINKOIN is not responsible for the operability of the Site and/or the System and does not guarantee its continuous operation. The KOINKOIN does not guarantee the safety of the information published on the Site and/or in the System as well as does not guarantee the possibility of continuous access to the information about Orders and closed Deals, the possibility of Order placement and of making Deals.
11.5. The User uses the Site and the System in its original form at his/her own risk. The KOINKOIN does not guarantee the achievement of any results by the User owing to the Site and/or System use.
11.6. The KOINKOIN does not guarantee that the Site and the System satisfy the requirements of the User as well as does not guarantee continuous, fast, save and error-free access to the Site and/or the System.
12.1. The Site and the System can contain external links to other sites in the Internet network (third parties’ sites). The abovementioned third parties’ sites and their content are not checked by criteria of conformity with certain requirements (authenticity, completeness, legality, etc.). The KOINKOIN will not be liable for the information and the materials published on third parties’ sites, which the User can access via the Site and/or the System as well as does not assume any responsibility for expressed opinions or statements, advertising materials, the accessibility and possible consequences of use of third parties’ sites.
12.2. The KOINKOIN has the right to transfer rights and debts under all obligations derived from the Agreement. By accepting the present Agreement the User gives their consent on transferring rights and debts to any third party. In case of rights and/or debts are transferred, the KOINKOIN will inform the User about it leaving the corresponding message on the Site and/or in the System.
12.3. Given the specifics of transactions, KOINKOIN does not implement a chargeback policy. However, KOINKOIN has developed and implemented a detailed Cross-Chain Recovery Policy, which provides a detailed guideline in the cases where an erroneous deposit of one cryptocurrency into wallet address instead of another cryptocurrency is made by the User. The recovery of Cross-chain deposits is an inherently dangerous and a very time consuming process. Not all deposits can be recovered and dependent on which currency has been mistakenly sent to which address can influence difficulty, time and security risk involved.
12.4. Making a transaction, the User agrees and carries the entire risk on the transaction. To KOINKOIN cannot be made any claims for the cancellation of the Transaction. KOINKOIN does not accept or process applications from anyone for the return and / or cancellation of an operation.
13.1. Neither KOINKOIN nor its affiliates make any specific promises about functioning of the Site and/or System. For example, KOINKOIN does not make any commitments about the content of the Site, the specific functions of the System, or their reliability, availability or ability to meet the User’s needs. KOINKOIN provides the Site and System "AS IS".
13.2. To the extent permitted by law KOINKOIN excludes all warranties, guarantees, conditions, representations, and undertakings.
14.1. To the extent permitted by law neither KOINKOIN nor KOINKOIN'S affiliates, and KOINKOIN'S suppliers and distributors will be responsible for lost profits, revenues, financial losses, indirect, special, consequential, exemplary damages.
14.2. To the extent permitted by law the total amount of KOINKOIN liability, its affiliates, and KOINKOIN'S suppliers and distributors is limited to the amount you paid to KOINKOIN for all Services provided during 3 (three) months prior to the event giving rise to the liability.
14.3. KOINKOIN, its affiliates, and KOINKOIN'S suppliers and distributors will not be liable for any expense, loss or damage that is not reasonably foreseeable.
15.1. The User agrees to defend, indemnify and hold KOINKOIN, its affiliates and their respective employees, officers, directors and stockholders harmless from and against any and all damages claimed by a third party as a result of actions by User in violation of this Agreement. The User agrees to defend, indemnify and hold KOINKOIN, its affiliates and their respective employees, officers, directors and stockholders harmless from and against any and all damages for damages to property, bodily injury, death, or other injuries arising from the negligence or misconduct of the User or any person for whom User is legally responsible.
15.2. The party seeking indemnification in any case shall promptly give written notice to the other of the claim for which indemnification is sought and shall cooperate with the other party in the defence of such an action or suit. The failure to give or delay in giving any such notice shall not limit the indemnifying party's rights hereunder except to the extent it is prejudiced thereby. The indemnifying party shall have the right, at its expense, to direct any such legal proceeding and the negotiation and settlement of any such claim or demand. The indemnifying party shall have no liability for any settlement made without its consent or for any fees or expenses incurred by the other party after the indemnifying party begins directing the legal proceeding.
16.1. The Parties will tend to solve all disputes, differences and claims that can arise out of the execution, termination or cancellation of the Agreement by means of negotiations. The Party that has some claims should send a notification to the other Party describing the arisen claims and/or differences.
16.2. The Party in default on its obligations hereunder shall promptly cure the breach and take due measures to eliminate the consequences. Any dispute arising out of or in connection with this Agreement (including a dispute regarding the existence, validity or termination of this Agreement or the consequences of its nullity) shall be referred to and finally resolved by arbitration under the Arbitration Rules of the London Court of International Arbitration
16.3. If any dispute occurs as to the performance or interpretation of the present Agreement that cannot be resolved amicably or in arbitration the Company is entitled to demand the dispute be settled by the Court in location where the KOINKOIN resides.
17.1. The Service has the right to unilaterally change the terms of the Agreement, Privacy Policy, Anti-Money Laundering Policy and the Fees. The changes take effect 3 (three) days after the moment the new version of corresponding documents is published.
17.2. At each successive visit to the Site and before starting the use of the Personal Cabinet the User commits to become familiar with the new version of the Agreement, Privacy Policy, Anti-Money Laundering Policy and the Fees. If the User continues to use the Site and the System it will mean that he/she agrees with new versions of the corresponding documents.
17.3. If the User does not accept new terms of the Agreement, Privacy Policy, Anti-Money Laundering Policy and the Fees, he/she should stop using the Site having closed the Deals with other Users.
18.1. With the exception to the cases defined by the Agreement
and the current legislation, all the notifications, messages
and documents related to the fulfilment of obligations from
the Agreement should be sent to and are considered as received
by the Parties if they have been sent via email from the
authorized address of one Party to the authorized address of
the other Party. An authorised address can be:
for the User: the email
address indicated in the User Personal Cabinet;
for KOINKOIN:
support@koinkoin.com
.
18.2. KOINKOIN and all legal relations concerning it are regulated by the legislation of the UK without taking into account its conflict rules. Any disputes are solved according to the legislation of the UK.
18.3. If any clause of the Agreement is found void and unenforceable by a court decision, it will not affect the validity of other clauses of the Agreement, which shall remain valid and enforceable.
KoinKoin is a African-focused digital assets exchange where fiat meets cryptocurrency. In a post-Brexit and post-pandemic world, KoinKoin makes it easier to buy, sell and transfer digital assets across Africa, South East Asia, and Western Europe.