[Last Updated: 29 Sep 2018]
For more information on Vinex Network, you can refer to the company and license information found on the website. If you have questions regarding this agreement, please feel free to contact Vinex for clarification via our Customer Support team (https://support.vinex.network/hc/en-us).
Vinex reserves the right to modify or change the terms and conditions of the agreement at any time and at its sole discretion. Vinex will provide notice of these changes by updating the revised Terms of Service on the webpage (https://support.vinex.network/hc/en-us/articles/360015508372-Vinex-Terms-Of-Service) and changing the “[Last Updated: ]” date on this page. All modifications or changes to the Terms of Service will be effective immediately upon being announced on the website or released to users. As such, your continued use of Vinex’s services acts as acceptance of the amended agreement and rules.
By registering to use a Vinex Account, you have affirmed that you are at least 18 years old and are an individual, legal person or other organization with full legal capacity to enter into this User Agreement between you and Vinex. If you are not, you and your guardian shall undertake all consequences resulting from your actions and Vinex shall have the right to cancel or freeze your account in addition to filing claims against you and your guardian for compensation.
Prohibition of use
By accessing and using Vinex and any of its services, you acknowledge and declare that you are not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List and its equivalent. Vinex maintains the right to select its markets and jurisdictions to operate and may restrict or deny its services to certain countries. The content of this Agreement shall not be excluded from the laws of the country under which the user belongs. Vinex maintains its stance that prohibited users are not to use or access Vinex and any of its services.
Description of services
Vinex provides an online digital asset trading platform for products commonly known as cryptographic tokens, digital tokens or cryptographic currency. Vinex functions as a trading platform provider and is not a buyer or seller in trades made between traders. Vinex is also not a market maker. Traders must register and open an account with Vinex and deposit digital assets prior to commencement of trading. Traders may request the withdrawal of their digital assets, subject to the limitations as stated in the Terms and Conditions.
Vinex strives to maintain the accuracy of information posted on its website, however it cannot guarantee the accuracy, suitability, reliability, completeness, performance or fitness for purpose of the content through the website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content. Information on Vinex website can be subjected to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions. Vinex does not provide investment or advisory advice and will have no liability for the use or interpretation of information as stated in its website or other communication mediums. All users of Vinex must understand that there are risks involved in trading. Vinex encourages all users to exercise prudence and trade responsibly within their own means.
While Vinex emphasises platform security to ensure the continuity and security of its services (announcements will be made in event of downtime/maintenance), it will be non-accountable to Act of God, malicious targeted hacking, terrorist attacks and other unforeseen circumstances. Vinex reserves the right to cancel, rollback or block transactions of all type on its platform in event of abnormal transactions. Vinex will not ask for any password from its users nor ask users to transfer funds that are not listed on its trading platform. Users are encouraged to exercise prudence in dealing with discounts or promotions that could lead to them getting scammed. While the list is non-exhaustive, you agree that Vinex will not be held responsible for any losses arising from the situations stated above.
By using Vinex and any of its services, you declare that all information to Vinex in connection with these Terms are true, accurate and complete.
Vinex Account Registration & Requirements
User Identity Verification
With registration of an account on Vinex, you agree to share personal information requested for the purposes of identity verification. This information is used specifically for the detection of money laundering, terrorist financing, fraud and other financial crimes on the Vinex platform. In addition to providing this information, to facilitate compliance with global industry standards for data retention, you agree to permit us to keep a record of such information for the lifetime of your account plus 4 years beyond account closing. You also authorise us to make inquiries, either directly or through third parties, that are deemed necessary to verify your identity or to protect you and/or us against financial crimes such as fraud.
The Identity Verification information we request may include, but is not limited to, your: Name, Email Address, Government Issued ID. In providing this required information, you confirm that it is accurate and authentic. Post-registration, you must guarantee that the information is truthful, complete and updated in a timely manner with any changes. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, Vinex shall have the right to send you a notice to demand corrections, remove relevant information directly and, as the case may be, terminate all or part of Vinex Service to you. You shall be solely and fully responsible for any loss or expenses incurred during the use of Vinex Service if you cannot be reached through the contact information provided. You hereby acknowledge and agree that you have the obligation to keep all information provided up to date if there are any changes.
Account Usage Requirements
Vinex accounts can only be used by the person whose name they are registered under. Vinex reserves the right to suspend, freeze or cancel accounts that are used by persons other than the persons whose names they are registered under. Accordingly, Vinex will not take legal responsibility for these accounts.
Vinex prioritizes maintaining the safety of those user funds entrusted to us and has implemented industry standard protections for our platform. With that said, there are account-level risks that are created by individual user actions. We request that you understand the need to independently take safety precautions to protect your own account and personal information.
You shall be solely responsible for the safekeeping of your Vinex account and password on your own, and you shall be responsible for all activities under your log-in email, Vinex account and password (including but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement, etc.).
You hereby agree that:
1. You will notify Vinex immediately if you are aware of any unauthorized use of your Vinex account and password by any person or any other violations to the security rules.
2. You will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or procedures of the website/service.
3. You will log out from the website by taking proper steps at the end of every visit.
Vinex will not be responsible for any loss or consequences caused by your failure to comply with the above Account Security provision.
Vinex reserves the right to resolve issues and disputes at its sole discretion. Some issues include infringement of others’ rights, violation of laws and regulations, abnormal trades and others not explicitly mentioned in the Terms. Users agree to bear the costs arising from the process of dispute resolution.
Guidelines for usage of services on Vinex
You hereby agree to observe the following covenants during your use of services on Vinex:
- All the activities that you carry out during the use of Vinex Service will be in compliance with the requirements of applicable laws, regulations, as well as the various guidelines of Vinex.
- Will not be in violation of public interests, public ethics or other’s legitimate interests.
- Will not constitute evasion of payable taxes or fees and will not violate this agreement or relevant rules.
- Using a device, software or subroutine to interfere with the site
- Overloading network equipments with unreasonable data loading requests
- Executing malicious sales or purchases on the market
By accessing the Vinex Service, you agree that Vinex shall have the right to unilaterally determine whether you have violated any of the above covenants and take actions to apply relevant rules without receiving your consent or giving prior notice to you. Examples of such actions include, but are not limited to
- Block and close order requests
- Freezing your account
- Reporting the incident to authorities
- Publishing the alleged violations and actions that have been taken
- Deleting any information you published that is in violation
If your alleged violation causes any losses to a third party, you shall solely undertake all the legal liabilities in your own name and hold Vinex harmless from any loss, fine or extra expenses. If, due to any alleged violation Vinex incurs any losses, is claimed by any third party for compensation or suffers any punishment imposed by any administrative authorities, you shall indemnify Vinex against any losses and expense caused thereby, including reasonable attorney’s fee.
Vinex reserves the rights to levy service fees on users who use its services. It is in the discretion of Vinex to adjust the service fees charged to users using its services.
Provision of Service
Vinex will provide Vinex Service at an “as is” and “commercially available” condition, and does not offer any form of warranty with regards to the Service’s reliability, stability, accuracy and completeness of the technology involved. Vinex serves merely as a venue of transactions where coin-related information can be acquired and coin-related transactions can be conducted. Vinex cannot control the quality, security or legality of the coin involved in any transaction, truthfulness of the transaction information, or capacity of the parties to any transaction to perform their obligations under the rules. You must carefully consider the associated investment risks, legal status and validity of the transaction information and investment decisions prior to your use of the Vinex Services provided.
Limitation of Liability
You acknowledge and agree, Vinex shall not be liable for any of your losses caused by any of the following events, including but not limited to:
- Losses of profits, goodwill, usage or data or any other intangible losses
- Use or failure to use Vinex Service
- Unauthorized use of your account or unauthorized alteration of your data by third parties
- Your misunderstanding of Vinex Service
- Any other losses related to Vinex Service which are not directly attributable to Vinex
In no event shall Vinex be liable for any failure or delay of service resulting from regular network maintenance or external factors such as power failure, natural disaster, service provider-side problems or governmental acts.
You agree to indemnify and hold harmless Vinex, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of your breach or our enforcement of this Agreement. This shall also apply to your violation of any applicable law, regulation, or rights of any third party during your use of the Vinex Service.
Please be aware that all official announcements, news, promotions, competitions and airdrops will be listed on https://support.vinex.network/hc/en-us/categories/360000811711-News-and-Announcements where we urge all users to refer to regularly. Vinex will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.
Termination of Agreement
- The account is subject to a governmental proceeding, criminal investigation or other pending litigation
- We detect unusual activity in the account
- We detect unauthorized access to the account
- We are required to do so by a court order or command by a regulatory/government authority
In case of any of the following events, Vinex shall have the right to directly terminate this agreement by cancelling your account, and shall have the right to permanently freeze (cancel) the authorizations of your account on Vinex and withdraw the corresponding Vinex account thereof:
- After Vinex terminates services to you
- You allegedly register or register in any other person’s name as Vinex user again, directly or indirectly;
- The main content of user’s information that you have provided is untruthful, inaccurate, outdated or incomplete;
- When this agreement (including the rules) is amended, you expressly state and notify Vinex of your unwillingness to accept the amended service agreement;
- Any other circumstances where Vinex deems it should terminate the services.
Should the account be terminated, the account & transactional information required for meeting data retention standards will be securely stored for four years. In addition, if a transaction is unfinished during the account termination process, Vinex shall have the right to notify your counterparty of the situation at that time.
Remaining funds after account termination (normal)
Once the account is closed/withdrawn, all remaining balance (which includes charges and liabilities owed to Vinex) on the account will be payable at once to Vinex. Upon payment of all outstanding charges to Vinex (if any), the user will have 5 working days to withdraw all funds from the account.
Remaining funds after account termination (fraud/AML/violation of terms)
Vinex maintains full custody of the funds and user data/information which may be turned over to the authorities in event of account suspension/closure arising from fraud investigations, AML investigations or violation of Vinex’s Terms (eg. trading on Vinex from a sanctioned country).
Compliance with local laws
It is the responsibility of the user to abide by local laws in relation to the legal usage of Vinex in their local jurisdiction. Users must also factor, to the extent of their local law all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. All users of Vinex and any of its services acknowledge and declare that the source of their funds come from a legitimate manner and are not derived from illegal activities. Vinex maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate the account and funds of users which are flagged out or investigated by legal mandate.
Indemnity and disclaimer
You agree to indemnify Vinex and its entirety of affiliates and hold them harmless from and against all third party claims except from Vinex’s breach of these Terms. As mentioned in description of services, Vinex strives its best to maintain the data integrity on its site but does not guarantee the information and services provided in its platform. Vinex will not be liable for errors arising from the use of its services.
If you have any complaints, feedback or questions, kindly contact https://support.vinex.network/hc/en-us and we will in our best efforts try to resolve it for you.