Terms And Conditions

By using BITFORT Android App, BITFORT iPhone App or BITFORT website www.thebitfort.com (“BITFORT” or “Website”) and further by registering to avail the current or future services, products or any other features, technologies, or functionalities (collectively “BITFORT App and Services”), you are hereby agreeing to accept and comply with the terms and conditions of use stated below (hereinafter referred to as “Terms of Use”). You agree that you have read, understood, and accept the entire Terms of Use prior to your use of BITFORT App and Services. You are hereby expressly barred from accessing BITFORT App and Services unless you accept to these Terms of Use.

As used herein, “BITFORT” refers to the Web and Mobile application software that enables Buy, Sell Storage of Crypto products. “BITFORT” is the brand name owned and managed by The Bitfort Labs Pte. Ltd. Singapore [Company Registration Number: 201308457D] registered address as 10 Anson Road, International Plaza #26-10, Singapore 079903, herein referred as ‘BITFORT’ and Crypto Mining Pvt. Ltd. (“Company or CMPL”), a private limited company incorporated under the laws of India being the authorized representative entity of BITFORT and its parent company in Indian region and having its registered office at 64, Pheidon House, Shivaji CHS., off. S.B. Road, Pune-411016 India its owners, directors, investors, employees or other related parties which expression shall unless it be repugnant to the context or meaning thereof be deemed to include its successors, affiliates, employees and assigns. Users availing Company and BITFORT services are indirectly or directly referred herein as “Users”

Services

The Services operated by Company in the name of BITFORT allows buyers (“Buyers”) and sellers (“Sellers”),to buy and sell Bitcoins (for more information on Bitcoins, please refer to http://www.bitcoin.org).

BITFORT also allows all registered users of the Services (“Users”) to:

  1. To buy and sell bitcoin.

  2. To store/park bitcoins in our wallets

  3. To have hassle free transaction and trading platform

  4. No hidden charges

It is possible that the laws in the country where the User resides and/or accesses BITFORT App and Services do not allow the usage of an online tool with the characteristics of Bitcoin or any of its features. BITFORT does not encourage the violation of any laws and cannot be held responsible for violation of such laws. It is the duty and responsibility of the User to follow the laws of the country of residence. As long as you agree to and comply with these Terms of Use, BITFORT grants you a personal, non-exclusive, non-transferable, non-sublicensable, and limited right to enter and use BITFORT App and Services.

Taxes

It is your responsibility to determine, collect, report and submit any taxes applicable to the payments you make or receive in connection with the use of BITFORT App and Services to the appropriate tax authority. BITFORT is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.

Identity Verification

BITFORT adopts the following Know Your Customer and Anti-Money Laundering Policy (hereinafter referred to as “KYC and AML Policy”) to ensure that BITFORT App and Services and any future platforms that we might support, are not used to facilitate money laundering or the funding of terrorism or any other criminal activities.

  • Purpose

This policy is applicable on all the present as well as prospective Users who uses or wishes to use BITFORT App and Services through proper registration. It lays down the procedure that we follow to collect information and maintaining a record of our Users. It is the duty of User to comply with this KYC and AML Policy in order to ensure that it does not abuse the relationship with BITFORT for any illegal purposes, including money laundering or other financial crimes. Any action, including those that might not have been foreseen and included in this policy, that has the effect of the abuse as contemplated above shall be restricted under this policy.

BITFORT reserves the right to decline business proposal, at its discretion, with present as well as prospective Users at all times. It is the discretion of BITFORT to suspend or terminate any action in favor of the User until a reasonable and satisfactory explanation with supporting documents is provided, on suspicion of the User abusing the relationship as contemplated above.

  • Customer Identification

BITFORT collects the following basic information from its Users for its records as per the Indian land law:

  1. Complete name

  2. Residential Address

  3. Contact Number

  4. Email Address

  5. Picture of Permanent Account Number (PAN) Card

  6. Aadhar Number

  7. Bank Account Details
  • Measures for implementation of KYC and AML policy

BITFORT appoints competent and qualified personnel as an AML and KYC Policy Compliance Person who reviews and updates the KYC and AML Policy to ensure the compliance with all relevant and applicable legislation, regulations and recommendations and monitor compliance of KYC and AML Policy. BITFORT personnel would be trained to identify and take action on suspicious transactions through BITFORT App and Services and make regular internal reports on such suspicious transactions. BITFORT would regularly inspect the transactions done through its Services and would report them to relevant supervisory and/or law enforcement authorities. BITFORT reserves the right to determine suspicious and unusual transactions that result into abuse of relationship with BITFORT.

  • Changes to KYC and AML Policy

BITFORT reserves the rights to change, amend, alter or delete some or all parts of this KYC and AML Policy, include new procedure and exclude existing procedures in this KYC and AML Policy. It is the duty of the User to keep updated and comply at all times with the KYC and AML Policy as and when updated on the Website.

Associated Risks / Risk of using BITFORT Services / Investment Risk

The use of BITFORT App and Services may entail the following risks:

  1. Bitcoin transactions are irreversible. The Bitcoins you buy will be sent to your BITFORT wallet or to the Bitcoin address provided by you. If you lose or delete your own bitcoin wallet, you will lose your Bitcoins in it and the same cannot be restored later.

  2. Bitcoin value is volatile and keeps on increasing or decreasing. Bitcoins are subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading in Bitcoins.

  3. Bitcoin is an as-yet autonomous and largely unregulated worldwide system of value transfer between individuals. It is not backed by any government or central bank backed currencies.

  4. There is also the risk of loss of confidence in Bitcoin trading, which could collapse demand relative to supply. For example, confidence might collapse in Bitcoin because of unexpected changes imposed by the software developers, the creation of superior competing alternatives, a deflationary or inflationary spiral, or due to governmental actions. Confidence might also collapse because of technical problems, for instance, if the anonymity of the system is compromised, or if any entity is able to prevent any transactions from settling.

  5. There may be additional risks that might not have been foreseen or identified in these Terms of Use.

You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Bitcoins.

We use our banking service providers only for the receipt of client money and making payments. Our banking service providers do not transfer Bitcoins, exchange Bitcoins, or provide any services in connection with Bitcoins.

We do not entertain Refund and Cancellation under any circumstances.

Prohibited usage / Limited Right of Use / Limited License

Unless otherwise specified, all materials on BITFORT App and Services are the property of BITFORT and are protected under copyright, trademark and other applicable laws. You may view, print, and/or download a copy of such Materials on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices.

The trademarks, service marks and logos of BITFORT and others used in BITFORT and Services (“Trademarks”) are the property of BITFORT and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Website belong to Company. The trademarks and materials should not be copied, reproduced, modified, republished, uploaded, transmitted, collected or distributed in any form or by any means, whether manual or automated. Any unauthorized use of such property may violate copyright, trademark, and other applicable laws and could result in criminal or civil legal actions and penalties.

Maintenance of Account

We are vigilant in maintaining the security of BITFORT App and Services and it is for your personal and non-commercial use only. By registering with us, you agree to provide BITFORT with current, accurate, and complete information about yourself as prompted by the registration process, and to keep such information updated. You further agree to use only your BITFORT account and not use the account of any other person or assist others in obtaining unauthorized access to any BITFORT account. You further agree that you shall not use BITFORT App and Services in connection with any activity violating any law,statute,ordinance or regulation.

It is your responsibility for maintaining the confidentiality of your account information, including your password / PIN, safeguarding your own Bitcoins and for all activity including transactions that are posted to your Account.If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from you, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests, otherwise, BITFORT, at its sole discretion, may choose to terminate your Account. You are required to notify BITFORT immediately of any unauthorized use of your Account or password, or any other breach of security on ticket@thebitfort.com. The account of a User who violates these rules may be terminated, and further be also held liable for losses incurred by Company or any user of BITFORT App and Services.

You hereby agree that you shall not use the Website or our Service, in connection with any activity violating any law, statute, ordinance, or regulation. Further, you shall not deposit Bitcoins into your BITFORT wallet that is obtained through illegal activities and you will also not use the Service to perform an illegal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking. The Source of Bitcoins paid to your BITFORT wallet is not known to BITFORT and you hereby agree to ensure that it always comes from legitimate sources. BITFORT only acts as information intermediary as far as your BITFORT wallet is concerned.

Privacy

We value your privacy and are committed to protecting your personal information. In order to understand how we collect, store, protect, use, share and disclose your personal information, kindly refer and carefully read our Privacy Policy (https://thebitfort.com/privacy )

Complaints

For any complaint against BITFORT App and Services, you may set out the cause of your complaint, the manner in which you would like BITFORT to resolve the same and any other relevant information for understanding and resolving your complaints expeditiously.

Suspension, Termination and Cancellation of BITFORT Account

You may terminate this agreement with BITFORT, and close your Account at any time, following the settlement of any pending transactions.

You agree that Company may, by giving notice, in its sole discretion, terminate your access to the Website and to your Account; including without limitation, suspending or terminating the Service and Users’ Accounts, prohibiting access to the Website and its content, services and tools, delaying or removing hosted content, and taking technical and legal actions to keep Users off the Website if we reasonably perceive that such Users are creating any problems, including without limitation, possible legal liabilities, infringement of the intellectual property rights, or acting inconsistently with the letter or spirit of these Terms of Use.

Notwithstanding the above, we may, in appropriate circumstances and at our sole discretion, suspend or terminate Accounts of Users for any reason, including without limitation (1) attempts to gain unauthorized access to BITFORT App and Services or another User’s account or providing assistance to others’ attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of BITFORT App and Services to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms of Use, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by BITFORT, acting in its sole discretion.

We also reserve the right to cancel unverified Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue BITFORT App and Services. Users agree that BITFORT will not be liable to them or to any third party for termination of their Account or access to the Website.

You hereby agree that the suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Users will receive any monies owed to them via their registered bank account with BITFORT.

Legal Compliance

Your engagement/association in transaction including buying, selling/receiving/retaining crypto assets including “Bitcoin” are subject to local laws of each jurisdiction falling under that region.

As per RBI circulars, users all over India are cautioned against transacting in crypto assets including “Bitcoin” in lieu of a decision pending by the regulatory body. In the event the regulatory government body directs, BITFORT and its associates/affiliates will be required to close/cease all accounts and transactions be it buying or selling of crypto assets including Bitcoins. Users shall therefore be vigilant regarding any transaction in crypto assets using the BITFORT services as it is subject to a final decision and law formulation by supreme authority i.e. Government of India and/or its regulatory authorities with respect to the legality of the same.

Availability

All BITFORT App and Services are provided without warranty of any kind, either express or implied. BITFORT strives to ensure uninterrupted services to its Users. However, it does not give any guarantee for uninterrupted access or against any delay, failure, errors, omissions or loss of transmitted information.

BITFORT may suspend use of BITFORT App and Services for maintenance and will make every effort to give you reasonable notice. You acknowledge that such notice, however, may not be possible in case of an emergency.

Accuracy / Reliability of / Liability for Information published on website

We do not provide any investment advice in connection with BITFORT App and Services contemplated by these Terms of Use. While we may provide information on the value, range, volatility of Bitcoins, and events that may affect/have affected the value of Bitcoins, this is not considered investment advice and should not be construed as such. BITFORT will not be liable for any loss suffered by you in connection with any transaction involving Bitcoins.

External Websites and Services

BITFORT App and Services may provide links or other forms of reference to other websites (“External Websites”) or resources over which BITFORT may not have control. BITFORT offers to you such links or references to External Websites with the sole purpose of enhancing your experience of using BITFORT App and Services and BITFORT makes no representations whatsoever about any External Websites which you may access through BITFORT. BITFORT cannot be held responsible for the availability of, and content provided on any External Websites. BITFORT cannot be held responsible for any third party content accessible through the Website, including opinions, advice, statements, prices, activities, and advertisements, and you shall bear all risks associated with the use of such content.

Communication

Under these Terms of Use, you agree to receive electronic or any other form of communication and notifications from BITFORT. Email messages sent over the Internet are not always secure and BITFORT is not responsible for any damages incurred by the result of sending email messages over the Internet.

Jurisdiction and Dispute Resolution

These Terms of Use shall be governed and construed in accordance with the laws of India. The parties agree to irrevocably submit to the exclusive jurisdiction of the courts in Pune for the resolution of any disputes arising from these Terms of Use. Any dispute arising out of or in connection with this Terms of Use, at first instance, shall be referred for negotiation with the Company. The Users can raise complaints by sending an email on compliance@thebitfort.com and the Company shall   revert back with a solution. The parties shall attempt in good faith to resolve any dispute amicably with the Company informally. If we are not able to resolve the dispute with you informally within thirty (30) days, we each agree to resolve any claim, dispute, or controversy under the Arbitration and Conciliation Act, 1996 where the sole Arbitrator shall be appointed by the company who shall be a third Party having complete knowledge of the Crypto & Digital Assets.

Limitation of Liability

Users of BITFORT are responsible for their actions in connection with the use of BITFORT App and Services and their Accounts. Users are also responsible for protecting access information to BITFORT including, but not limited to, usernames, passwords / PIN, and bank account details. BITFORT is not responsible for the outcome, whether positive or negative, of any action performed by any of its users within or related to BITFORT App and Services. Some deposits and withdrawal methods require BITFORT to use personal details of the user including, but not limited to, name, address, email, phone number, and bank account number, IFSC code, etc. and you agree that BITFORT can use this information to facilitate deposits and withdrawals.

The parties agree that in no event shall BITFORT or its affiliates, officers, directors, agents, employees, and suppliers be liable for lost profits or any special, incidental or consequential damages arising out of or in connection with the use of BITFORT App and Services or these Terms of Use. In case the applicable laws do not permit the limitation or exclusion of damages as described above, our aggregate liability (including the liability of our affiliates, officers, directors, agents, employees, and suppliers) in respect of claims based on events arising out of or in connection with any single User’s access of BITFORT, whether in contract or tort or otherwise, shall in no circumstances exceed the amount of the transaction(s) that are the subject of the claim less any amount of commission that may be due and payable in respect of such transaction(s).

Indemnification

To the full extent permitted by applicable law, you hereby agree to indemnify BITFORT, and its affiliates, officers, directors, agents, employees, and suppliers against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if directly or not directly arising from your use of BITFORT App and Services, or from your violation of these Terms of Use.

Warranty

BITFORT App and Services is provided on an “as-is”and “as available” and your use of the Services is at your own risk. It is hereby expressly declared that BITFORT offers no warranty of any kind regarding BITFORT App and Services.

Severability

In case any provision/s of these Terms of Use is / are rendered invalid or unenforceable or void by operation of any law, rule or regulation, then such an event would not affect the validity or enforceability of any other provision of these Terms of Use.

Force majeure

It is hereby expressly declared that neither BITFORT nor you will be liable for any delay or failure caused by conditions or events beyond the reasonable control of the respective party, including but not limited to any delay or failure due to any act of God, fire, act of terrorists, act of civil or military authorities, civil disturbance, war, strike or other labor dispute, 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 reasonable control of the respective party and the validity and enforceability of any remaining provisions shall not be affected by any such condition.

Modification of Terms

BITFORT reserves the right to amend, add or remove portions of these Terms of Use, at any time, in an exercise of its sole discretion which shall be effective from the date of its posting on BITFORT website and/or BITFORT App. Your continued use of the Website and Service following the posting of a notice of changes to the Terms of Use signifies that you have accepted and agreed to such changes and that all subsequent transactions by you will be subject to the amended Terms of Use.

Contact

If you have any questions relating to these Terms of Use, your rights and obligations arising from these Terms of Use and/or your use of BITFORT and BITFORT App and Services, your Account, or any other matter, please contact us on compliance@thebitfort.com