These Terms of Use are an electronic agreement between you (the “User”) and Bitmonsters LP, located at: 17 Union Street Unit 500, DUNDEE Scotland – DD1 4BG, United Kingdom (“pay.bitmonsters.net”), which applies to the user’s use of this website, any services, products and content provided by pay.bitmonsters.net
As used herein, the term “pay.bitmonsters.net”, other subdomains of the site refers to Bitmonsters LP, including but not limited to its owners, directors, investors, officers, employees, agents or other related parties, unless otherwise provided herein document.
By accessing this website, we assume that you fully agree with these terms. Do not continue to use pay.bitmonsters.net if you do not accept all the terms and conditions specified in the Agreement.
The following terminology applies to these Terms and Conditions, Privacy Policies and any or all of the agreements:
– “User”, “You” and “Your” refers to you, the person referring to this website and means acceptance of the Company’s terms and conditions.
– “Company”, “Our”, “We”, “Our” and “Us” refer to our company.
– “Party”, “Parties” or “Us” refers both to the Customer, and to us, or to the Customer or ourselves

This binding Agreement is made between us and a person (s), who wants/ want to use our   Software.

Rights and Obligations

Our company provides Software only on terms and conditions set forth in this Agreement and provided that you will accept them and comply with them.

By using our Software you:

  • accept this Agreement and agree to be legally bound by it;
  • guarantee that you are major and have  legal capacity for conclusion of this Agreement,  or, if you are a legal entity, you are entitled and empowered to enter into this Agreement on behalf of a corporation, state organizations or  another legal entity and bind them by these terms and conditions.

The Software operates as a multitasking digital complex with an open source code. The Software is not an account of any third-party project.

This Software has been beta-tested and its enhancement continues due to feedback from developers and gateway users, but we cannot guarantee that the Software is faultless. You accept using this Software “as is” at sole discretion and in compliance with legislative norms of your country of residence. You shall bear responsibility for your data safety – your passwords, private keys, PIN codes and any other codes you use to access the Software.

If you request withdrawal to a wrong or mistaken bitcoin address, you shall agree that any bitcoin amount sent from your account balance will be not accessible for you. All and any bitcoin transaction inquiries are irreversible. Developers of Software, employees, copyright holders of our company cannot get your personal accesses or passwords. Our company has no control over the blockchain network.

This Software is provided “as is”, without any explicit or implicit warranties in respect to commercial activities. Under no circumstances  developers of the Software, our employees and partners shall not bear any liability for any claims, damages and other problems related to  operation of this Agreement in case if you will stop using our Software or use it with some other purpose.

Under no circumstances our company, any partners or providers of our services shall not bear any liability for using our Software by you or any third parties, whom you granted access to. Should you or any third parties disrupt operation of the Software resulting in damages incurred by you, in this case we also shall not bear any liability in view of that. Should you lose any data of the Software, results of the system operation   resulting in the Software failure in operation, reading or transmitting information, updating and providing correct data, or failure of the safety system, you will be obliged to compensate for the relevant damages caused by any consequential, accidental, indirect, special or penalty violations on the basis of this Agreement as any breach of terms and conditions of this Agreement by you, your negligent conduct causes damages to our company.

 

Intellectual Property

We reserve all the rights, title and interest in the content and all brands, logos and trademarks of our company, including, among other things, the Software, other applications of our company and any other possible wordings for   brands, logos and trademarks created by us.

Dispute Resolution

This Agreement and its fulfillment, as well as interpretation shall be regulated by law only with the exclusion of any conflict-of-laws rules.

All and any disputes arising in relation to fulfillment of provisions of this Agreement shall be resolved through legal proceedings only.

Severability

Should any court acknowledge any section, sections, part of a section of this Agreement as invalid, it will not invalidate the entire Agreement, and all remaining sections and clauses shall be effective and valid.

Legal Succession

Conditions and provisions of this Agreement shall be binding for your representatives and legal assigns. This Agreement can be executed in several counterparts, each of which shall be recognized as original, and all of them together shall constitute one and same Agreement.

You shall assume all the risks related to the use of this Software. We reserve the right to make any changes and /or amendments in/to this Agreement.

Terms of Use

These Terms and Conditions of Use regulate your use of products, services or any functions, technologies or functional capabilities of a gateway provided by our company by any means. Such terms as “you” and “your” refer to the vendor, whom we will provide our Services to, and the undersigned.

Please read these Terms and Conditions carefully;

By using our Services you agree to these Terms and Conditions and confirm their acceptance.

 

  • Services

 

We are a processing center that occupies with processing payment gateway transactions. We provide you with the opportunity to receive bitcoins and other cryptocurrencies supported by functional capabilities of the gateway as payment for goods or services and process cryptopayments you receive from your customers (Buyers). We are not a bitcoin exchanger, bitcoin  wallet or the platform for bitcoin or other cryptocurrencies purchase and sale transactions. Our Services are available for those individuals and legal entities, who offer products and/or services for sale, and other organizations accepting payments. Using this gateway you authorize us to act as your authorized agent so that we could receive, retain and pay any amounts in cryptocurrencies on your behalf and perform any other actions necessary, in our opinion, for provision of Services and compliance with applicable laws. Payment for goods /services by the Buyer made through our system will be considered a payment made to you directly and it   covers any outstanding payment obligation of the Buyer.

 

  • Registration

 

2.1 General

To start using functionalities of our payment gateway, you shall first register your account in the system. After your account is registered, we will ask you to provide your contact information: your surname, given name, phone number and e-mail address. Depending on the tariff plan of your account, we will ask you to provide information on your type of activities, including legal name of your business, registered address and the web site of your company. Information you provide at the time of registration shall be correct and complete. You also shall timely notify us about any changes in such information. We can request you to provide any additional information to identify you and assess risks such as your date of birth, tax payer identification number, registration address. We also do reserve the right to obtain information about you from third parties. We have the right to refuse to register your account or close your account afterwards if you will fail to give us correct, full and satisfactory information about:

  • your trading capabilities and capabilities of  your company in accordance with current laws, and any existing limitations  on your type of activities. We can request providing additional documents for verification in case of specific activities. We will not process payments on your behalf until review your documents, if the trading level chosen by you requires so. If you want to change your trading level to the higher one, you shall send a respective inquiry to the support team by sending a ticket on changing the tariff plan and providing us with additional documents. We cannot make all functionalities available to you without first reviewing documents provided by you.
  • For types of activities requiring additional regulation and for ensuring proper operation, our company can make additional verifications from time to time.

2.2 Account Safety   

At registration of your account you shall set the password. You shall be responsible for keeping your password and information on accesses to the account private. You shall bear full responsibility for all actions related to the use of your password or account. You can set   two-step authorization using Google Authenticator.  If you lost the password to your account, you can renew it by means of the pre- verified e-mail address. In case of losing passwords of two-step authorization, make an inquiry concerning disabling of authorization to the support team. You shall notify us forthwith about any unauthorized use of your password or account, or any other threat to the safety of the user account. If you give access to your account by passing your password to other individuals, we will not bear any responsibility for damages that may arise as a result of using your password or account by other people, both with or without your consent and knowledge. It is prohibited to provide access to your account to other users of Services and/or use account of another user.

2.3 Trading levels

To help you with carrying out your activities our company set the following trading levels: Standard, Premium, and Unlimited. Upon registration you get features included in the tariff plant “Standard” (basic level), terms and conditions of which will be applied to your account. This tariff plan does not envisage submitting documents by the trader and/or additional identification. Description of tariffs and the list of documents required for registration of each of them see on our web site.

 

 

  • Your Sales

 

3.1 Limitations on the scope of transactions

Our company does not impose any daily and annual transaction processing limitations on traders, unless otherwise envisaged by laws in your jurisdiction.

3.2 Accounts and reports

You shall keep all the records necessary for fulfilling obligations as for goods and /or services supplied to Buyers, and provide them with any post-sales support they may need. If your sales require state registration, you shall bear full responsibility for obtaining such registration. Our company takes account of all the documents and data collected regarding your merchant account for the period of your account operation and up to 1 year after closing it.

3.3 Customer verification

In compliance with your laws and rules, you shall bear exclusive responsibility for obtaining any information required for identification of buyers of your goods or services. For example, if sale of goods/services to individuals under 18 years of age is prohibited by law, you shall adhere to this prohibition. Similarly, if applicable law requires buyer identification, you shall identify the Buyer. We shall not bear any responsibility for your failure to duly identify your buyers.

3.4. Provision of Services and Guarantees

Using Services shall be regulated by laws and regulations of the country of carrying out activities, as well as international treaties ratified in your country aimed at prevention of terrorism financing and anti-money laundering. Herewith you agree and acknowledge that your use of Services will comply with such laws and provisions.

Using Services by you is also subject to the following important restrictions.

Particularly, you shall confirm and guarantee that:

  1. You are over (18) years of age, you have legal capacity and capability to accept these Terms and Conditions.
  2. Your use of Services will not be inconsistent with the  applicable international, national and other norms existing in the country of carrying out activities
  3. Your use of Services is not related to selling:
  • narcotic substances, psychotropic substance s and other substances, which  free circulation is prohibited in the country of carrying out activities;
  • items, which violate any intellectual property rights such as copyrights, rights to trademarks, commercial secrets or patents;
  • ammunition, firearms, explosives or weapons regulated by applicable laws  or defined by us;
  • any services  competing to services of our company.

Any exclusion made as regards prohibitions mentioned in this sub-section 3.4 (Provision of Services and Guarantees) shall be subject to internal review and shall be effective only if they are expressly allowed by our company in writing.

3.5. Right to decline processing of transactions

We reserve the exclusive right to decline processing of any transaction, if we, in our opinion, believe that it may violate these Terms and Conditions and cause damages to you, the Buyer or other parties. If we have any suspicion that your account was used for any illegal activities, we will be entitled to share information about you, your account and other records and documents with law-enforcement authorities.

3.6. Our right to additional verification

We can demand additional verification of your activities in view of using Services or documents, or evidences by you for carrying out specific transactions. Should you fail to fulfill our demand, we will be entitled to postpone or close your account.

 

  • Third Parties

 

4.1. Use of third-party services

At the time of using gateway you may receive offers of services, products and promotions from third parties. If you will decide to use these third-party services, you shall be aware that you do this at your own risk and shall bear sole responsibility for using them. We expressly reject any responsibility for third-party services and shall not be liable for their operation.

4.2 Safety

We have taken all necessary safety measures to protect your information from accidental loss and unauthorized access, use, modification or disclosure. However, we cannot guarantee that unauthorized persons will never get access to your information, and you shall recognize that you provide your information at own risk, except if envisaged by current laws.

 

  • Data Use

 

With the purpose of provision of Services we can exchange information about you and your account with third parties, for example, your bank and your buyers.

5.1 Third parties in validation of information required for registration

To verify data you send in the course of registration of the account for authentication, we may inquire information from various third parties. By accepting these Terms and Conditions you give us permission to obtain information about you from third parties.

 

  • Advertising

 

You grant us the right to make public your corporate name, texts and logos on our marketing web site, as well as advertising materials to confirm our cooperation.

 

  • Accounts and Payments

 

When working with a gateway the billing interface generated in our system shall be used. To generate a bill, you shall create an outlet and generate a bill for it in national currency, foreign currency or bitcoins. At that total billed amount shall comprise the amount of gateway commission, your commission and the price of goods/services. It may also include additional conditions and commissions upon preliminary agreement with you. Thereafter the bill will be generated with payment instructions. Every 5 minutes the price stated in the bill will be recalculated according to the effective rate of bitcoin (cryptocurrency). We do guarantee that in case of timely payment of the bill by the Buyer in the amount stated in such bill in bitcoins (cryptocurrencies), this amount will be credited to your account balance less Service Fee.

Depending on the number of confirmations in the blockchain network chosen by you payment can be deemed as made:

– without confirmation;

– upon one confirmation;

– upon three confirmations;

– upon five confirmations.

Bills shall get “confirmed payment” status by default upon 5 confirmations. Please note that  our company shall not bear responsibility for bills with payments, which never get 5 confirmations in the blockchain network.

 

  • Service Fee

 

We collect a lump sum Service Fee at registration of gateway users in accordance with their chose trading level (tariff plan). An individual approach to formation of Service Fee at discretion of the Service administration is allowed.

When you generate a bill, the amount of it shall include the transaction processing fee of the system. This fee depends on the trading level chosen by the Trader. The amount paid under the bill less Service Fee shall be credited to the Trader account balance, as well as fee for transaction at withdrawal from the balance.

Should the amount stated in your bill not correspond to the amount paid by the Buyer, then this problem shall be resolved upon mutual agreement between the Vendor and Buyer.

In case of returning goods/services in compliance with legal norms the Buyer shall be compensated for the amount of goods in national currency according to the exchange rate at the time of return less Service Fee.  

8.1 Methods of payment

We ensure receipt of payments from Buyers with the use of blockchain technologies and credit amounts in bitcoins (cryptocurrencies) to the balance of your account. To withdraw bitcoins (cryptocurrencies) you shall make an inquiry to the support team stating the amount of withdrawals and wallet address for withdrawal. You can also withdraw amounts in national currency, bitcoins (cryptocurrencies) or other means according to your trading level. You shall understand and acknowledge the volatility of the rate of bitcoin (cryptocurrencies).

8.1.1 Payments in national currency

Withdrawal to a bank account in national currency is available for Traders located in certain countries. If you want to receive deposits to your bank account, you shall find out details about possibility of liaising with banks in your country, provide us information on your bank account and keep such ​​information updated.

8.1.2. Bank account

In case of closing your bank account you shall give us a written notice at least one day before closing. If you want to continue receive payments to your account, you shall give us current information about replacement of your bank account. You shall bear full responsibility for all and any fees and expenses arising in view of servicing your bank account and all overdrafts. You shall also be responsible for any charges that may be imposed in case if you provided incorrect or invalid information about your account. We shall not be held responsible for any delays in receiving due amounts or errors in your bank account entries made by third parties.

8.1.3 Payments in bitcoins (cryptocurrencies)

Payments in bitcoins (cryptocurrencies) shall be transferred to the bitcoin-address or address of another cryptocurrency stated by you   upon your request. Our company shall not be responsible for any damages caused as a result of providing us with an incorrect bitcoin (cryptocurrencies) address.

8.2 Exclusions payment

In certain situations when a bill is not paid in full or overpaid, it may result in mismatch of payments. As the Vendor you are responsible for settling such situations.

8.2.1 Underpayment

Underpayment occurs when the Buyer transfers the amount, which is less than the amount stated in a bill. As such bill shall be considered as not fully paid, goods/services will not be provided to the Buyer. You shall be obliged to agree with the Buyer upon settling inaccuracies and demand payment of the remaining amount or provide the bitcoin address (or address for payments in any other cryptocurrency) of the Buyer for refund less Service Fee. If none of these provisions is complied with, such bill will remain in “partly paid” status.

8.2.2 Overpayments

Overpayment occurs when excess funds are credited to the account. In such cases the relevant bills is assigned “paid” status and funds are credited to your balance with the note “overpayment”. In this case we would recommend you to contact the buyer and make a refund of excess amount, and make an inquiry to the support team of the gateway regarding such refund to the Buyer less the fee for such transaction. The Buyer has the option to demand from you’re a refund in the amount of excess payment.

8.2.3 Tiny Amounts
For a refund to be honored it must be at least the network transaction fee (TX fee) for that coin times two, otherwise it will be forfeited.

8.3 Dispute Resolution

In case of any disputes between you and the Buyer, we can restrict access to funds until such dispute is resolved.

Moreover, we can restrict access to your funds, if necessary, until court judgment, or, otherwise, by demand of law-enforcement authorities.

8.4 Information on the account

You will have access to information on the account, account balance, history of transactions and payment through your Bitmonsters account without possibility to withdraw funds until the dispute is resolved.

 

  • Returns

 

9.1. Return procedures

In case of situations with returning goods in compliance with laws you shall make decisions about refunds in national currency or bitcoins (cryptocurrencies) independently.

 

 

9.2. Refund

Our company shall not be responsible for any refunds. The Trader shall perform all refund actions in strict compliance with laws. If refund is allowed, we recommend you to return the amount of original purchase in the currency of the respective bill less Service Fee.

9.3   Buyers’ complaints

Buyers filing complaints in our web site will be referred to you for resolving the problem. Our company reserves the right to terminate accounts with excessive number of complaints.

9.4 Support calls

Traders shall refer their questions regarding operation of Services by means of sending an inquiry in the inquiry system from their user accounts or e-mail address validated by the system to e-mail of the support team.

 

  • Closing user account   

 

10.1 Right to close the account

These Terms and Conditions shall be applied till you use our Services. After you stop using Services these Terms and Conditions cease to apply. You can close your account at any time. In this case you will continue to bear obligations to us for any fees under generated and paid bills irrespective of termination of activities on the user account. We will transfer you all the funds on your account balance upon the respective inquiry and fulfillment of all obligations to us. Should the balance of your account be less than the minimum amount required for processing a transfer, or be equal to the amount of a fee for such transfer, we will not be able to process it.

10.2. Closing or postponement of the user s account by administration of the Service

We can terminate your account, at our discretion, with notifying you about it by e-mail or by phone. We also can postpone your access to Services if we have any suspicion that you did not comply with these Terms, or use our Services for fraudulent purposes, or provide false, incomplete, incorrect or misleading information. We shall not bear responsibility to you for   any damages incurred by you in view of closing or postponement of operation of your account.

10.3. Implications of closing the account

If your account is closed, you shall agree:

  • to immediately stop using Services
  • that we shall reserve the right (but not obligation) to remove all your information and   data of the account stored in our servers;
  • that we don’t bear any responsibility to you or any  third party for termination of access to Services or removal of  your information or data of the account.

 

  • Damages

 

You shall agree to compensate our company for damages, liabilities, expenses, court costs and  all and any other  charges and expenditures arising in view of any claims, complaints, actions, audit, investigation or any  court proceedings related to:

  • any breach of your  guarantees or obligations  specified in these Terms and  Conditions;
  • your  illegal or improper use of Services;
  • products or services sold by you through Services, including any claims regarding  false advertising, product defects, bodily injuries, death or any material damages;
  • access of any other party to Services, or  using them by such party from your account.

 

  • Guarantees

 

We provide Services, but you bear responsibility for using such Services, because we provide Services without any guarantees, implicit or explicit. We do not assume any responsibility for the content created as a result of your joint actions with a third party.

 

  • Limitations on Liability

 

We shall not be held responsible for any direct, indirect, special, accidental, consequential, further or penalty sanctions,   damages caused to you and intangible losses.

 

  • Miscellaneous

 

14.1 Taxes

You shall be responsible for complying with tax legislation, tax payment to the fullest extent envisaged in the country of carrying out your activities, as well as other expenditures related to your use of our Software and Services. You shall also be solely responsible for complying with tax laws and payment of relevant taxes to tax authorities. We are not obliged and we will not monitor or check what type of taxes you pay in view of any transaction.

14.2 Privacy Policy

Please familiarize yourself with our Privacy Policy for information on how we gather and use information received from you. Privacy Policy is the integral part of these Terms and Conditions.

14.3 Right to set conditions

You are not entitled to hand –over or alienate norms and provisions of these Terms and Conditions or any other rights granted hereby. Herewith you agree and acknowledge that we are entitled to set or alienate these Terms and Conditions.

14.4. Severability

Should any provision of these Terms and Conditions will be recognized as invalid or ineffective in compliance with laws, rulings or regulations, this shall not affect the validity or enforcement of any other provision of this Agreement.

14.5 Entire Agreement

This Agreement, including Privacy Policy mentioned hereinabove, constitutes the entire agreement and understanding between us and you as regards matters contemplated herein.

14.6 Notices

Herewith agree to receive our notices and notifications in electronic format, and agree that all  conditions, agreements, notices, notifications or other messages we send you in electronic form will be regarded as provided in written form.

14.7 Amendments

We can, at our sole discretion, update, and change or amend these Terms and Conditions publicizing modified/updated/amended Terms and Conditions on our web site. Such updates or amendments shall become effective at the time of publication. If you continue using Services after being notified about such changes, your further use will be deemed as acceptance of such modified/updated/amended Terms and Conditions. If you disagree with such modified/updated/amended Terms and Conditions, you shall stop using your account; send an inquiry for closing the account to the support team and stop using Services.

14.8 Force-majeure

Neither you, nor us shall be held responsible for any delays in processing or other kind of non-fulfillment of obligations, which occurred due to such force-majeure circumstances as fire, electricity failures, equipment failures, disorders, war and other events beyond our control provided that both parties took all measures and followed all procedures to prevent implications of such force-majeure circumstances.