Qredo Services Ltd. EULA
Last Updated: November, 2022
This document is a binding legal agreement between you and Qredo Services Ltd. If you proceed to use the Services you will be deemed to have accepted its contents and will be bound by its terms, so please take time to read them carefully and in full.
Who are we and what service do we provide?
1.1 We are Qredo Services Ltd, a company incorporated in the British Virgin Islands, whose registered address Floor 4, Banco Popular Building, Road Town, Tortola, VG1110, British Virgin Islands (“Qredo” “we”or “us” or “our”). This is an agreement between us and you (the“Agreement”)and sets out the terms that govern your use of the services described at List of Services (the “Services”).
Agreement to Terms
2.1 By signing up to use an account and clicking “I Agree” to this Agreement, you agree that you have read, understood,
2.2 Additional products provided by third parties may be made available to you within the Services (the “Third Party Products”). These Third Party Products may be subject to additional terms set out at List of Services. You agree that you have read, understood, and accept all of the terms and conditions relating to the Third Party Products.
Changes to the Agreement terms or Services
Because our Services are evolving over time we may change or discontinue all or any part of the Services, or make changes to this Agreement at any time and without notice, at our sole discretion.
It’s important that you review the Agreement whenever we modify it because if you continue to use the Services after we have modified the Agreement, you are agreeing to be bound by the modified Agreement.
If we do make changes, we’ll let you know either by posting the modified Agreement on our website, by providing you a notice through the Services, or through other methods of communication which we deem reasonable indicating when the revised Agreement becomes effective.
Although we will try to provide you with advance notice where possible, where lawful we may indicate that the revised Agreement will be effective at the time the changes are posted on our website or through the Qredo App Services and you will be deemed to have accepted the change if you do not notify us otherwise prior to the date the
change takes effect and continue to use the Services.
If you do not accept the changes you should close your Account and cease using the Services.
Copies of the most up-to-date version of the Agreement will be made available on the Services at all times.
Registration and Account set-up
4.1 Eligibility - To be eligible to use any of the Services, you must be at least 16 years old and reside in a country in which the relevant Services are accessible (for more information see clause 4.2).
4.2 Please note that not all Services are available in every country. In particular, you may not use or download the Services if 1) you are in, under the control of, or a national or resident of Cuba, Iran, North Korea, Sudan, or Syria or any other country subject to United States embargo, UN sanctions, HM Treasury’s financial sanctions regime, or if you are on the U.S. Treasury Department’s Specially Designated Nationals List or the U.S. Commerce Department’s Denied Persons List, Unverified List or Entity List, or HM Treasury’s financial sanctions regime; or (2) you intend to supply any Services to Cuba, Iran, North Korea, Sudan or Syria or any other country subject to United States embargo or HM Treasury’s financial sanctions regime (or a national or resident of one of these countries), or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List, Entity List, or HM Treasury’s financial sanctions regime.
4.3 Registration with Qredo - If you want to use the Services, you are required to create an account (“Account”) by providing your details, including your name, email address and a password and accepting the terms of this Agreement.
4.4 Identity Verification - Your access to one or more Services may be contingent upon satisfaction of our onboarding processes as well as our compliance program, which may include verification of your identity and source of funds, and additional information we may request from time-to-time. The information we request may include, without limitation, personally identifiable information such as network address, name, email, address, telephone number, date of birth, taxpayer identification or social security number, official government- issued photo identification, and bank account information or other information we may reasonably deem helpful in satisfying our risk management or legal obligations. In providing this information to us you represent that it is accurate and agree to update your Account information promptly, but in no event later than 14 days following any change in your information. Failure to provide information or update it promptly may result in Services or funds being unavailable to you.
You agree that we may make enquiries 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 enquiries. When we carry out these enquiries, 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 enquiries in full. This is an identity check only and should have no adverse effect on your credit rating.
4.5 Use of the Account - Other than as permitted under section 4.6, you agree that you won’t disclose your Account credentials to anyone, and you’ll notify us immediately of any unauthorized use of your Account. Each customer may register only one Account.
You are responsible for maintaining the security of your account, all activities that occur under your Account and any other action taken in connection with your account, whether or not you know about them.
We may, in our sole discretion, refuse to open an Account for you, or suspend or terminate any Accounts (including but not limited to duplicate accounts) or suspend or terminate the activities under your Account.
You acknowledge and agree that you shall be solely responsible for, and we shall have no involvement in or liability for, any actions which you take or agreements or other arrangements which you enter into with other users, or which you take or enter into pursuant to your communication with other users.
4.6 Employees, Agents and Contractors of Institutional Clients - You may grant express permission to an appropriately licensed third party (for example, your employer) (“Appointed Third Party”) to initiate, access or connect to your Account(s) on your behalf. You acknowledge that granting permission to an Appointed Third Party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold Qredo responsible for any liability arising out of or related to any act or omission of any Appointed Third Party with access to your Account(s). If your application for an account is initiated on your behalf by an Appointed Third Party, your account will be managed in the first instance by the initiating party’s administrator.
We reserve the right to suspend or terminate your Account on instruction from your Appointed Third Party.
4.7 Notifications and communications - By accepting the terms of service and verifying your email you agree to receive transactional emails in order to keep you informed of important activity relating to your account, delivery and payments of digital assets including but not limited to emails to verify that you are the account holder of the email address, emails regarding the status of your transactions and emails regarding the status of the Qredo service.
Licence to use the Service
5.1 In consideration of you agreeing to comply with the terms of this Agreement, we grant you a limited, non-exclusive, non-transferable licence to use the Services subject to the terms of this Agreement.
5.2 You agree that you will:
(a) not rent, lease, sub-license, loan, provide, or otherwise make available, the Services in any form, in whole or in part to any person other than as permitted under this Agreement or agreed in writing by Qredo;
(b) 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 part of the Services, in whole or in part;
(c) comply with all applicable technology control or export laws and regulations that apply to the technology used or supported by the Services; and
(d) not remove, alter, or obscure any copyright, trademark or other proprietary notices appearing in or on the Services.
6.1 Level of Skill - You warrant you have appropriate training, sophistication, expertise and knowledge necessary to make informed decisions regarding trading and use of the Services.
6.2 You shall not engage in any of the activities listed in section 6.3. Please note that this list is not an exhaustive list. If you have any questions in relation to whether your use of the your Account and Services is acceptable please contact Qredo at firstname.lastname@example.org.
6.3 You agree not to use your Account or Services in ways that:
(a) Violation of law - violates, or assists in violation of, any law, statute, ordinance, or regulation, sanctions programs or other governmental requirements or to infringe or violate the rights (including intellectual property, privacy, and publicity rights) of any person;
(b) Violation of security - violates, or attempts to violate, the security of the your Account or the Services.
Examples of prohibited security violations include: (a) logging into a server or account that you are not authorized to access; (b) accessing data or taking any action to obtain services not intended for your use; (c) attempting to probe, scan, or test the vulnerability of the Services or its infrastructure; (d) tampering, hacking, modifying, or otherwise corrupting or breaching security or authentication measures; (e) transmitting material that contains viruses, Trojan horses, worms, time bombs, cancelbots, or other devices that intend to (or actually) damage or disrupt the Services or its infrastructure; and (f) interfering with, or intercepting, any service or data relating to the Services, including by means of overloading, “flooding,” “mailbombing,” or “crashing” the Services or its infrastructure.
(c) imposes an unreasonable or disproportionately large load on the Qredo infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information; transmit or upload any material to Qredo systems that contains viruses, trojan horses, worms, or any other harmful or deleterious programs; attempt to gain unauthorized access to any Qredo systems or accounts;
(d) operates to defraud Qredo or any other person or entity;
(e) involve publishing falsehoods, misrepresentations, or misleading statements, including impersonating someone;
(f) are abusive, discriminatory, threatening, obscene, offensive, inflammatory, libelous or defamatory or displays or distributes offensive or unlawful materials, including materials that are libelous, defamatory, obscene, pornographic, indecent, vulgar, or hateful;
(g) infringe or violate the intellectual property, privacy, publicity, or other personal rights of others;
(h) constitute “spam”, “junk mail”, “chain letters”, “pyramid schemes” or is sent or uploaded for the purpose of personal or commercial solicitation, advertising or marketing;
(i) imply any recommendation or endorsement by us (unless pre-authorised by us in writing) or do anything that would be damaging to us or our reputation or our brand;
(j) involve you impersonating any other person or misrepresenting your identity or affiliation with any other person;
(k) encourage or enable any other individual to do any of the foregoing.
6.4 Monitoring of content - Although we have no obligation to monitor any User Content (defined below), we have absolute discretion to remove User Content at any time and for any reason without notice. You understand that by using the Services, you may be exposed to User Content that is offensive, indecent, or objectionable and the views and opinions expressed by other users do not represent our views or opinions. We take no responsibility and assume no liability for any User Content, including any loss or damage to any of your User Content.
6.5 You must ensure that you have all necessary rights, licences, consents and permissions prior to uploading or otherwise communicating any User Content.
6.6 The Services will include User Content uploaded by you and other users, and may include User Content directed at you (such as private messages or public posts or endorsements of you). You should contact us immediately at email@example.com if you identify any User Content that breaches the terms of this Agreement.
6.7 Export laws and sanctions - You agree to comply with all applicable U.K. and non-U.K. export control and trade sanctions laws.
7.1 Although we try to ensure that our Services meet our high standards, we do not guarantee that the Services will be available without interruption and we do not guarantee that any order will be executed, accepted, recorded, or remain open or that your Account will be accessible. Under no circumstances shall Qredo be liable for any alleged damages arising from service interruptions, delays in processing transactions, or lack of timely response from our customer support team.
7.2 Although we intend to provide accurate and timely information on the Services, this information may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the App are your sole responsibility and we shall have no liability for such decisions.
7.3 Unsupported Crypto Assets - Under no circumstances should you attempt to use the Services with Crypto Assets or Networks that are not supported by Qredo (“Unsupported Crypto Assets”). This includes trying to store, send, request, or receive Unsupported Crypto Assets into Qredo-created public wallets. Qredo assumes no responsibility or liability in connection with any attempt to use the Services for or with Unsupported Crypto Assets.
7.4 Supported Crypto Assets - In the event Qredo determines in its sole discretion to support a Crypto Asset, that asset will become a part of the definition of “Supported Crypto Assets”. Supported Crypto Assets, shall be updated from time to time at the Supported Crypto Assets page. Qredo may in its sole discretion end support for any Supported Crypto Asset and will provide you with no less than 10 days’ notice (unless a shorter period is required by law or a regulatory body) through the Services. If you do not sell or send such Supported Crypto Asset before the end of this notice period, Qredo reserves the right to withdraw such Supported Crypto Asset from your account and credit your Qredo account with the market value of another Supported Crypto Asset or a fiat currency (the denomination of which will be selected by us in our sole discretion).
7.5 Open and additional protocols - Qredo does not own or control the underlying software protocols that govern the operation of Supported Crypto Assets. Qredo claims no ownership right to these public blockchains, private consortium DLT’s or the associated Crypto Assets that they utilize. You acknowledge and agree that, unless we let you know through the Services, Supported Crypto Assets excludes all other protocols and/or functionality which supplement or interact with the Supported Crypto Assets.
7.6 Protocol fees and charges - Qredo performs fee calculations based on the underlying chain fees and charges. Fees are calculated using specific data that is managed by the Qredo protocol to reflect the truest representation of fees within protocol operating constraints and charged in accordance with this section 8 of this Agreement. Further information on the fee methodologies can be found here.
7.7 No Reversals - Qredo cannot reverse any execution instruction or transfer that occurs on either the Layer 2 Qredo Network, other blockchain or protocol.
You agree to be responsible for the payment of and pay all fees. A full list of fees for Services, as amended from time to time, can be found on the Services at the List of Services page, which shall form part of this Agreement.
Information about you and other users
9.2 If you receive information about another user through the Services, you must keep the information confidential and only use it in connection with the Services.
9.3 To the extent that any of your User Content contains any information which relates to an identified or identifiable individual or which is otherwise classified as “personal data” under applicable law:
(a) we shall be the data controller in respect of such information;
(c) you shall ensure that you have obtained the consent of the individual to whom the information relates, or otherwise have the legal right, to disclose such information to us for use in accordance with section 9.3(b) above.
9.4 You are responsible for keeping your contact details (including your email address and telephone number) up to date in your Account profile.
9.5 We will not send marketing emails to the supplied address unless you have opted in to do so. If you have opted in to receive marketing emails you may opt out at any time by following the instructions for opting out in the communications that we send to you.
9.6 We provide no warranties, representations or guarantees in relation to other users, including without limitation as to their credit standing, reliability, reputation or suitability in relation to any arrangement or activity they engage in.
You acknowledge and agree that:
(a) Qredo is a platform. We are not a broker, financial institution, or creditor. The Services are an administrative platform only. Qredo enables connections between users but is not a party to any agreement between any users.
(b) You bear full responsibility for verifying the identity, legitimacy, authenticity of assets and users with whom you communicate with using the platform. Qredo makes no claims about the identity, legitimacy, or authenticity of assets on the platform.
11.1 For purposes of this Agreement: (i) “Content” means text, messages, graphics, images, music, software, audio, video, works of authorship of any kind, and information or other materials that are posted, generated, provided or otherwise made available through the Services; and (ii) “User Content” means any Content that Account holders (including you) make available through the Services. Content includes without limitation User Content.
11.2 All intellectual property rights in the Services throughout the world belong to us (or our licensors) and the rights in the Services are licensed (not sold) to you. You have no intellectual property rights in, or to, the Services other than the right to use them in accordance with this Agreement.
11.3 You license us to use any User Content and you agree that we can use, modify, display, distribute and create new material using the Content so that we may provide you with the Services and for any other purposes set out in this Agreement. By submitting User Content you confirm and agree that the owner of that Content has expressly agreed that, without any particular time limit, and without the payment of any fees, we may use the Content for the purposes set out in this Agreement.
11.4 We do not claim any ownership rights in any User Content and nothing in this Agreement will be deemed to restrict any rights that you may have to use and exploit your User Content. We have the right to disclose your identity to any third party who is claiming that any of your User Content constitutes a violation of their intellectual property rights, right to privacy, or any other legal rights to which they are entitled.
12.1 The Services are designed to work on certain mobile phone devices. Please visit our Compatible Devices page for a list of currently supported mobile phone devices.
Third Party Materials
The Services may contain links to third-party services (“Third Party Materials”). We provide these links only as a convenience, do not have control over their content, do not warrant or endorse, and are not responsible for the availability or legitimacy of, or the content, products or services on or accessible from, those websites or resources or links displayed therein. We make no warranties or representations, express or implied about such linked Third Party Materials, the third parties they are owned and operated by, the information contained on them or the suitability of their products or services. You acknowledge sole responsibility for and assume all risk arising from your use of any third-party websites, applications, or resources.
14.1 We may suspend or terminate this Agreement and your use of the Services at any time, with or without cause, immediately upon giving you notice in writing to the email address provided by you when you registered for your account (or any subsequent email address you provide). This includes if:
(a) you use the Services in a manner that is deemed by us to be contrary to these terms or fraudulent; or
(b) if we stop providing the Services.
14.2 We are not liable to you for the cost of any Services purchased by you which you are no longer able to access or use as a result of your account being deleted or suspended.
14.3 If you no longer wish to use the Services, you can close and delete your account, to do so please contact firstname.lastname@example.org.
14.4 If your account is terminated, we will (unless prohibited by applicable law, court order, governmental body, relevant regulator or authority or any treaty, legislation, statute, directive, regulation, judgement, decision, decree, order, instrument, by-law, or any other law of, or having effect in, any jurisdiction) allow you to continue to access your Account for a reasonable period (as determined by us acting reasonably) for the purposes of carrying out any activities necessary to conclude our relationship (such as retrieving your assets or content). You are not permitted to use the Services or your Account for any other purposes than as described in this section 14.4 during this period.
15.1 You will indemnify and hold harmless Qredo and its officers, directors, employees and agents, from and against any claims, disputes, demands, liabilities, damages, losses, and costs and expenses, including, without limitation, reasonable legal and accounting fees arising out of or in any way connected with (i) your access to or use of the Services or Content, (ii) your User Content, (iii) Third Party Materials, or (iv) your violation of this Agreement.
Limitation of Liability
16.1 Please read the provisions of this section carefully as they exclude or limit our liability for certain losses
suffered by you in connection with your use of the Services.
16.2 Nothing in these terms excludes or limits our liability for death or personal injury arising from our negligence, or our fraud or fraudulent misrepresentation, nor any other liability that cannot be excluded or limited under applicable law.
16.3 Exclusions of loss or damage - To the extent permitted by law, we exclude all conditions, warranties, representations, or other terms which may apply to our Service, any content included on our Services or accessed through it, whether express or implied.
In addition to any other exclusions of liability set out in this Agreement, we will not be liable to you or any third party for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty or otherwise, even if foreseeable, arising under or in connection with:
(a) use of, inability to use or unavailability of the Services (or any part of them) that does not arise directly from our breach of this Agreement;
(b) use of any products, data, information or services accessed or obtained, or messages received, or transactions entered into, through or from our Services, including use of or reliance on any content displayed on or made available through our Services;
(c) unauthorized access to or alteration of your transmissions or data; or
(d) any inaccuracy or incompleteness of any information received by you or by us through the Services.
16.4 Payments to third party providers - You acknowledge that when you use our Services to make payments to third party providers, we act as your agent in respect of those payments. We do not accept any responsibility or liability to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty or otherwise, even if foreseeable, that you may incur if any Services you purchase do not meet your requirements or are not suitable for you, or for any acts, omissions, errors, or defaults of any third party in connection with those Services.
16.5 Foreseeability - We shall only be responsible for loss or damage you suffer that is a foreseeable result of our breach of these terms or our negligence. Loss or damage is foreseeable if it is an obvious consequence of our breach or if they were contemplated by you and us at the time you accepted this Agreement.
16.6 Accuracy of information - We try to ensure that all content provided by us via the Services is accurate. However, we don’t guarantee that all the information available is up to date or accurate at all times and we accept no liability for inaccuracies or omissions. Any reliance that you may place on the information on available as part of our Services is at your own risk.
We recommend that you check the accuracy and completeness of any information before relying on it. Although we take all reasonable steps to protect our systems using virus checking software, please note that any content downloaded from our Services is at your own risk. We do not accept liability for any loss or damage that you suffer as a result of any distributed denial-of-service attacks, computer viruses, Trojan horses, worms, software bombs or other damaging items resulting from your use of our Services. You are responsible for protecting your computer systems and other devices from exposure to viruses by the use of anti-virus software, firewalls, and any other technical measures necessary.
16.7 Downloads - If you download our Services or other digital content provided by us and you suffer damage to your device or other digital content you own because we have not exercised reasonable care and skill in creating such digital content, you may be entitled to compensation or repair at our expense pursuant to your statutory rights.
16.8 Availability of the Service - We do not guarantee the availability of the Service. As with any service over the Internet or mobile network, there are factors over which we have no control, for which we cannot accept liability. We may suspend, withdraw, or restrict the availability of all or any part of the Services where we consider that this is necessary for maintenance or any other business or operational reasons without any prior notice or liability to you.
16.9 Standard of provision of the Service - The Services are provided on an 'as is' and 'as available' basis. We try to make sure that it will work on each compatible mobile device (please see section 12 (Compatibility Notice) above for more details on compatible devices), however, we do not guarantee that the Services will be suitable for your needs or that it will work accurately or in any particular way.
16.10 Delay or failure out of Qredo’s control - We shall not be liable for any delay or failure to provide our Services or perform any obligation under this Agreement if the delay or failure is caused by circumstances beyond our reasonable control. We do not charge you a separate fee for access to and use of the Services.
16.11 Liability cap - In no event shall Qredo, its affiliates and service providers, or any of their respective officers, directors, agents, joint venturers, employees or representatives, be liable to you (a) for any amount greater than the value of the supported crypto assets involved in the transaction giving rise to such liability or (b) for any lost profits or any special, incidental, indirect, intangible, punitive 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 services, or this agreement, even if an authorized representative of Qredo has been advised of or should have known of the possibility of such damages.
We make our Services available on the Google Play Store and the Apple AppStore (the “Appstore Providers”). The ways in which you can use the Services may also be controlled by the Appstore Provider’s rules and policies. We encourage you to read those rules and policies and ensure that you comply with them. If there are any differences between these terms and the Appstore Provider’s policies, the latter will apply. You acknowledge that this this Agreement is concluded between you and us, and not with the Appstore Provider. We are solely responsible for the Market Services and its content, not the Appstore Provider. The Appstore Provider has no liability whatsoever to you under these terms or in relation to the Services.
Open Source Software
If any open-source software is included in the Services, the terms of an open-source license may override some of the terms of the term of this Agreement. In the event that the terms in this Agreement and the terms in such an open-source license conflict, the open-source license terms will control.
This Agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales. The parties agree to the exclusive jurisdiction of the courts located in London, England.
20.1 This Agreement constitutes the entire and exclusive understanding and agreement between Qredo and you regarding the Services and Content, and this Agreement supersedes and replace any and all prior oral or written understandings or agreements between Qredo and you regarding the Services and Content.
20.2 Each of the conditions of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining conditions will remain in full force and effect.
20.3 You may only transfer your rights or your obligations under this Agreement to another person if we agree to this in writing.
20.4 We are permitted to transfer our rights or obligations under this Licence to another person without your consent. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under the contract.
20.5 This Agreement does not give rise to any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement.
20.6 Any notices or other communications provided by us under this Agreement, including those regarding modifications to this Agreement, will be given by posting to the Services and/or through other electronic communication. Subject to section 9.5, you agree and consent to receive electronically all communications, agreements, documents, notices and disclosures that we provide in connection with your Account and your use of the Services.
20.7 If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date. Except as expressly set forth in this Agreement, the exercise by either party of any of its remedies under this Agreement will be without prejudice to its other remedies under this Agreement or otherwise.
20.8 This Agreement is written in English (U.K.). Any translated version is provided solely for your convenience. To the extent any translated version of our this Agreement conflicts with the English version, the English version controls.
21.1 Force Majeure - If by reason in whole or in part of any Force Majeure Event, either you or Qredo is delayed or prevented from complying with this Agreement, then such delay or non-compliance shall not be deemed to be a breach of this Agreement and no loss or damage shall be claimed by you or Qredo by reason thereof.
“Force Majeure Event” means any event beyond the party’s reasonable control, including, but not limited to, flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, failure in bank performance, or equipment or software malfunction including network splits or “forks” or unexpected changes in a computer network upon which the Services rely.
21.2 Taxes - It is your responsibility to determine what, if any, taxes apply due to your use of the Services, andit is your responsibility to report and remit the correct tax to the appropriate tax authority. Qredo is not responsible for determining whether taxes apply to your transactions or for collecting, reporting, withholding, or remitting any taxes arising from any virtual currency transactions.
21.3 Contact Information- For any purpose other than technical support requests, you may contact us by email and should be sent to email@example.com.