TERMS & CONDITIONS

TERMS AND CONDITIONS
 

The AML Policy is an integral part of the Terms and Conditions. By accepting the Terms and Conditions you are automatically agreeing with the AML Policy https://verator.io/en/AML.

By using this Site, and further by registering to use our Services, you are agreeing to accept and comply with the terms and conditions stated below  ( the "Terms and Conditions "). These Terms and Conditions shall be read along with the Privacy Policy (available via the link: https://verator.io/en/Privacy-Policy and incorporated herein by this reference).

You should read the entire Terms and Conditions carefully before you use this website (the "Site") or any Services available thereat. In case you do not understand or do not wish to agree to particular clauses of these Terms and Conditions, you shall not register on the Site. By registering to the Site you confirm that it was provided with sufficient time to get acquainted with the Terms and Conditions.

As used herein, "Verator" refers UAB "Verator" including without limitation thereby, its owners, directors, investors, employees or other related parties. UAB "Verator" is a private limited liability company, incorporated under the laws of the Republic of Lithuania, being registered with the Financial Crime Investigation Service under the Ministry of the Interior of the Republic of Lithuania as a Virtual Currency Exchange Operator. Depending upon context, "Verator" may also refer to the Services, products, Site, content or other materials (collectively, "Materials") provided by Verator.

Depending on your country of residence, you may not be able to use all the functions of the Site. It is your responsibility to follow those rules and laws in your country of residence and/or country from which you access this Site and Services. As long as you agree to and actually comply with these Terms and Conditions, Verator grants to you a personal, non-exclusive, non-transferable, non-sublicensable and limited right to enter and use the Site and the Services.

For the know-your-customer ("KYC") performance, you may be requested to provide additional or updated information, data and / or documents. Your refusal to provide such information, data, documents and/or provision of insufficient or false information, data, or documents shall be deemed to be a ground for Verator to refuse to enter into contractual relations or to decide to terminate contractual relations with you regarding the provision of Services under the Terms and Conditions and may be subject for disclosure to relevant authorities if so required under applicable laws. Besides, for the performance of KYC or other anti-money laundering or counter-terrorist financing procedures, Verator may be required to provide information received from you to third parties. By accepting the Terms and Conditions, you are informed that information about you would be provided to such third parties to the extent needed for the onboarding of the client and to perform subsequent legitimate actions (including, but not limited to monitoring of business relationships).

Business relationships are established with you when you, as the Account Holder, make your first money transfer to Verator with the intention to buy digital currency.

Verator shall have a right to refuse to register you and provide Services to you without indicating the reasons, however, Verator shall assure that the refusal to register will always be based on significant reasons which Verator does not have to or does not have the right to reveal. Verator reserves the right, at its sole discretion, to change, add or remove portions of these Terms and Conditions, at any time by giving three business days prior notice. You will be notified of such changes on the Verator website and upon such notification, it is your responsibility to review the amended Terms and Conditions. Your continued use of the Verator Services following the posting of changes will mean that you accept and agree to the changes. You agree that all subsequent transactions by you will be subject to the current version of the Terms and Conditions.

The Terms and Conditions shall be governed and construed in accordance with Lithuania Law. The parties agree to irrevocably submit to the exclusive jurisdiction of the Lithuania Courts.

Verator reserves the right to update, modify or delete from time to time the information contained in these Terms and Conditions. For this reason, we recommend that users review periodically this Terms and Conditions and related documentation.

ACCOUNTS

A Verator Account ("Account" or "Accounts") is an Account held by the Client or an"Account Holder" with the specific objective of exchanging digital currency (like bitcoin) and fiat currency through the Verator.

The Client who wants to start using Company services has to register in the Site. During registration on the Site, an Account is created for the Client. The Account is personal and only its owner, i.e. the Client, has the right to use it. The Client is allowed to have only one Account. If Verator has suspicions that the Client has opened several accounts, then Verator may without prior warning close the Client accounts or/and terminate the Terms and Conditions with such Client.

The Terms and Conditions come into force when the Client learns the terms of the present Terms and Conditions and Privacy Policy, registers in the Site, and expresses his/her consent to comply with them electronically. The Agreement is valid for an unlimited time.

The Terms and Conditions and other stipulations it refers to (such as Privacy Policy and AML Policy) relate to all rights and obligations arising from the use of this Site and the Services. Each Client wishing to register as an Account Holder must read these Terms and Conditions carefully and understand them before final acceptance. These Terms and Conditions apply as long as the respective Account is accessible through the platform www.verator.io.
To register as an Account Holder and use Company Services, the Client should be at least 18 (eighteen) years old.

The Company does not provide Services:

• in countries, subject to financial sanctions imposed by Lithuania and according to FATF recommendations.
• for non-EU and non-CIS citizens (except the United Kingdom, Norway, and Switzerland - those countries are also allowed).
• have not previously been suspended or removed from using our Services.
• have full power and authority to enter into this agreement and to not violate any other agreement to which you are a party.

The Client confirms that s/he has provided correct data about him/herself during registration on the Site and that later when changing or adding data about him/herself, s/he will provide only correct data. The Client shall bear any losses that occur due to the submission of invalid data.

Under circumstances and procedures set out in the Terms and Conditions or on the Site, the Client shall perform Client identification (verification) in order to start or continue the provision of Services.

For registration at the Site, the Company asks to provide the Client with the following: name, surname, email, phone number and referral code (optional). Before an Account is activated it will be validated by Verator and 3rd party AML and KYC service provider with which Verator has made an agreement (check for the correct e-mail address, digital currency wallet and verify identity according to most recent AML requirements).

To start using the Company's Services the Client should complete the KYC form: provide the passport or ID card or driving license and the utility bill (Proof of Address). In addition, the client should take a photo of him(her) self-holding the identification document submitted alongside his/her face together. Passport, ID card and driving license expiry date should be more than one month.

If the Client’s turnover at the Company account is over EUR 15,000.00, Company asks to provide the Client’s source of funds.

Documents that can be used as proof of address: household utility bill (gas, electricity, water or fixed line telephone, landline bill, bank statement, building society or credit card statement, solicitor’s letter confirming recent house purchase or land registry confirmation (in this case, proof of previous address will also be needed), Revenue & Customs (Inland Revenue) tax document e.g. tax assessment, statement of account, notice of coding).

The submitted documents should be no more than three months old on the date of application and should show the name and current address of the Client. The local authority tax bill (e.g. council tax) valid for the current year also can be used as proof of address.

The Company has the right at any time to require data and/or documents, which would help the Company to identify the Client. Specific data and/or documents to be submitted shall be indicated in the message to the Client about the necessity to perform the identification procedure.

When performing Client identification, the Company has the right to demand the Client to provide originals of the documents and/or their copies and/or copies of documents approved by a notary or another person authorized by the state.

The Company may request the Client to provide the Company with his/her personal information, including but not limited to the Client’s name, address, telephone number, electronic mail address and date of birth, as well as his/her source of funds, financial standing and occupation. The Company may also verify the Client’s details, at any time, by requesting certain documents from the Client. These documents may typically include a government-issued identity card, proof of address such as a utility bill, and proof of the payment method. In addition, Company may request further information with respect to Company’s anti-money laundering ("AML") and know your client ("KYC") obligations. In addition, Company may request that copies of such documents are notarized at the Client’s own expense, meaning that the documents are stamped and attested by a public notary. Should the documents fail Company’s internal security checks – for example, if Company suspects that they have been tampered with, or are in any way proven to be misleading or misrepresenting – Company shall be under no obligation to accept such documents as valid, and under no obligation to provide feedback on the exact nature of Company’s findings with regards to these documents. Verator may decide, at its sole discretion, to terminate your account and these Terms & Conditions, on the basis that such documents or verification provides a negative or uncertain conclusion or Company suspects that Client is not aged 18 or over.

The Client shall receive a notification about the confirmation of the Account via the email address, which has been specified during registration on the Site.

The Company is entitled to correct the entered by Client data, based on the information provided by the Client, if the mistake is in 1-2 signs. If personal data entered by the Client is very different from provided in proof of identity documents, the request for identification should be declined. If due to inaccurate data the Client has created several Accounts, s/he shall inform the Company thereof, so that all created Accounts would be merged into one Account.

LEGAL AGE AND RESTRICTED TERRITORIES

The Services are only available to individuals who are at least 18 years old (and at least the legal age in their jurisdiction). The Client represents and warrants that if s/he is an individual, s/he is at least 18 years old and of legal age in his/her jurisdiction to form a binding contract and that all registration information s/he submits is accurate and truthful. Verator reserves the right to ask for proof of age from the Client and his/her account with Verator  may be suspended until satisfactory proof of age is provided.
 

Our Services are accessible to the following countries citizens: Australia, Austria, Azerbaijan, Belarus, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, United Kingdom.

The Client may not use the Services and/or the Site if s/he is located or is a resident of a geographic area in which access to or use of the Services and/or the Site is prohibited by applicable law, decree, regulation, treaty, or administrative act, including without limitation the following territories: United States Of America, Kuwait, Qatar, Saudi Arabia. Serbia, Turkey, United Arab Emirates, Bahrain, Bangladesh, Egypt, Ethiopia, Jordan, Lebanon, Libya, Mali, Mauritius, Morocco, Oman, Somalia, Sri Lanka, Trinidad & Tobago, Tunisia, Afghanistan, Algeria, Indonesia, Malaysia, Nigeria, Democratic Republic of Korea (North Korea), South Sudan, Sudan, Yemen, Iran, Iraq, Occupied Palestinian Territories, Pakistan, Syria, Vanuatu, Ethnic groups of the Caucasus belonging to Russian Federation (Chechens, Lesgid, Ossetians, Ingushes, etc.) ("Restricted Territories"). Certain partial restrictions may apply to additional geographic areas, as shall be notified by Company from time to time. The Restricted Territories list may change from time to time for reasons, which include but are not limited to licensing requirements and any other legal and regulatory changes. Without derogating from the section ‎above the Client shall not use the Services where it is prohibited by law or regulation.

Client understands and accepts that Verator is unable to provide Client with any legal advice or assurances in respect of his/her use of the Services and Verator makes no representations whatsoever as to the legality of the Services in Client’s jurisdiction.

In case you have noticed that funds or cryptocurrency have been transferred to your blockchain wallet by mistake or in other ways that have no legal basis, you are obliged to immediately notify Verator about it and unconditionally commit to repay Verator the funds or return the cryptocurrency which was transferred by mistake in 3 (three) business days from the receipt of such request from Verator.

CONDITIONS

• Verator reserves the right to change the buy limits on your Account as we deem necessary.
• Account Holders are responsible for maintaining the confidentiality of their Account Details information and for all activity including Transactions that occur under their Account.
• Account Holders agree to provide Verator with accurate, current and complete information as prompted by the Registration process (Email enter, verification).
• Account Holders also provide the correct name during verification as used with the bank account to assure Verator can compare and validate that name on the bank account from which the transfer has been made and completed is the same as the name provided during verification.
• Account Holders will provide one of their digital currency wallet addresses to Verator where Verator can send digital currency to the Account Holder.
• Verator cannot be held responsible for the loss of digital currencies resulting from an Account Holder not being able to access their personal wallet and/or digital currency address(es) which they provided to Verator to be used by Verator for sending digital currency to the Account Holder.
• When buying digital currencies through the Verator, Account Holders generates request directly to Verator to buy specific digital currency for that price what is on a market - once the payment from the user is received. The Exchange Service is subject to the Verator "Offer Price". "Offer Price" means the liquidity-adjusted price of a given digital currency amount in terms of local currency as quoted on the Verator Site or other partner website through which Verator is providing its service. The "Offer Price" is stated as a "Buy Price," the price in terms of local currency at which you purchase digital currency from Verator. For the purpose of any transaction which incorporates the "Offer Price", you agree, as a condition of using the Verator services and by accepting you are aware that prices on a market are changing, so you will see the exact amount of digital currencies you get - after your payment is received to Verator and Verator than execute your request to buy digital currency.
• Account Holder acknowledges and agrees that the digital currencies‘ price is based on the Verator Offer Price. Volatile market conditions, 3rd party caused delays and API delays can affect the Offer Price negatively, for which Verator cannot be held responsible.
• Account Holder also acknowledges and agrees that the payment in relation to the transaction may be delayed due to the unavailability of banking Sites, for which Verator cannot be held responsible.
• Due to the inherent nature of the digital currencies networks, Account Holder also acknowledges and agrees that execution of its request to buy digital currencies to their Account may take between one (1) hour and twenty-four (24) hours, barring unforeseen or unavoidable network issues after the payment is successfully received to Verator Account.
• Verator reserves the right to abort a transaction at any time and to return received payments or digital currencies to the Account Holder.
• Verator has a right to refund and return payment back to a sender without a further explanation. The refund fee is 5% from the total amount receive but not less than 10 eur.

SERVICES

Our Services consist of facilitating Account Holders request to buy or sell of digital currencies such as Bitcoins using different payment methods – bank cards, bank wire transfers or similar. Service fee for exchange (and any other fees) is incorporated to the final amount user is willing to pay. In certain cases, Verator can collect fees from the user on behalf of other parties involved in the transaction (partners, acquiring banks, acquirers, etc.). Verator does not keep or manage any digital currency wallets and/or Euro deposits.

The exchange of the cryptocurrency is under the regulation of AML laws of the Republic of Lithuanian and Verator‘s policy is to comply with applicable laws and regulations regarding AML and identity verification (know your customer / KYC procedures), and to detect and prevent the use of Verator‘s Services for money laundering or to facilitate criminal or terrorist activities. Accordingly, Verator has implemented an Anti-Money Laundering and Identity Verification Policy: AML Policy which is compliant with the most updated EU AML regulation.

For the avoidance of doubt Verator does not provide any investment advice in connection with the Services contemplated by these Terms and Conditions . Verator may provide information on the price, range, volatility of digital currencies and events that have affected the price of these, but this is not considered investment advice and should not be construed as such. Any decision to purchase or sell digital currency is your decision and we will not be liable for any loss suffered.

Verator is a stand-alone digital currency exchange business, where you deal directly with Verator. The costs for a transaction through the Verator platform consist of a service fee and/or a bank fee. Digital currencies such as Bitcoins are a digital non-returnable and non-refundable product for which you lose your right of withdrawal. The sale of digital currency is final sale and no returns are permitted. Verator is not obliged to issue an invoice. Verator‘s details might appear on end user bank statement.

Bank card flow:

A buy transaction is initiated after your payment notification has been received from Verator payment service provider and is processed by Verator. The digital currency will be sent to the digital currency address of your wallet after finishing the buy transaction. The digital currency price for your transaction will be locked in for a short period, so you know exactly how much digital currency you will receive. If your payment takes more than the lock in period to finalise, your digital currency price will be updated with the Verator Offer Price at the time of receiving your payment signal. In that case the final amount of digital currency sent to your wallet may differ slightly. The minimum and maximum transaction sizes depend on the status of your Account and are visible at Payment Verification window.

When buying digital currency by SEPA bank transfer, you acknowledge and agree to accept:

• That you will be provided with the details of the Verator bank account after clicking the review order button on the Payment verification (Buy) page.
• SEPA bank transfers are processed daily after receiving a notification from our bank of your transfer. Expect a lead time of one to three working days between your bank transfer and receiving the digital currency in your wallet.
• Initiate your SEPA transfer from the bank account, which is under the same name you used to complete verification on Verator Account.
• Put your Verator payment reference in the 'comment' (sometimes called 'label' or 'reference') field of the bank transaction.
• Only transfer Euro amounts within the limits of your Verator Account and the exact amount you saw on the payment verification window.
  • If you transfer money, but your ID verification has failed - please start the verification process again through www.verator.io or write email to support@verator.io and ask for help. If within 10 working days you will not complete verification successfully because of the issues from your side, Verator is responsible to take 10% fee from the amount you sent (with minimum of 5 euros and maximum of 20 euros). The amount will be transferred to the same IBAN account the transfer was made to Verator.
  • If you transfer the amount which exceeds the one you have to pay based on the order you accepted - Verator will exchange crypto currencies for the amount you have transferred with the updated amount/volume of digital asset you have selected.
• After your SEPA bank transfer, it usually takes 1-5 working days to show on our bank account.
• Once our bank confirms your transfer, we initiate a buy transaction and the digital currency will be sent to your blockchain wallet address.
• The estimated amount of digital currency on the Offer details page is based on the market price at that moment.
• The final amount of digital currency you receive will differ from the estimate as the price is determined at the moment when your order is actually traded, this means - when your bank transfer is received.
• The final exchange selection will depend on the market situation and exchange availability at the time your order transaction is processed.
• When your digital currency is sent to your wallet you will receive a confirmation email with the financial transaction details.

A sell transaction is initiated after your cryptocurrency transfer notification has been received and is being processed by Verator. The fiat currency will be sent to your iban account after finishing the sell transaction. When you initiate sell transaction you can see initial quote (price), which is indicative. After you initiate the sell transaction you have 48 hours to send Verator your virtual currency. The final price will be calculated when Verator receives your virtual currency into indicted wallet. In that case the final amount of fiat currency sent to your wallet may differ from initial quote (price).

When selling digital currency, you acknowledge and agree to accept:

• That you will be provided with the details of the Verator wallet after clicking the review order button on the Payment verification (Sell) page.
• Expect a lead time of 1 to 5 working days between our bank transfer and receiving the fiat currency in your IBAN account.
• Provide us with the bank account, which is under your name.
• Only transfer the exact amount you saw on the transfer verification window.
  • If you transfer cryptocurrency, but your ID verification has failed - please start the verification process again through www.verator.io or write email to  support@verator.io and ask for help. If within 10 working days you will not complete verification successfully because of the issues from your side, Verator is responsible to take a 10% fee from the amount you sent (with a minimum of 5 euros and a maximum of 20 euros). The amount will be transferred to your IBAN account you indicated during verification.
  • If you transfer the amount which exceeds the one you have to pay based on the order you accepted - Verator will exchange fiat currencies for the amount you have transferred in cryptocurrencies.
• The minimum transfer is equal to 10 euros and the maximum is equal to 15 000 euros.
• Once we get your cryptocurrency transfer to Verator’s blockchain wallet address, we initiate a sell transaction, and the fiat currency will be sent to your IBAN account.
• The estimated amount of fiat currency on the Offer details page is based on the market price at that moment.
• The final amount of fiat currency you receive will differ from the estimate as the price is determined at the moment when your order is actually traded, this means - when your cryptocurrency transfer is received.
• When your fiat currency is sent to your wallet you will receive a confirmation email with the financial transaction details.

Since Verator provides the Services by electronic means, your instructions given to Verator shall be confirmed by the means Verator uses to confirm your identity on the Verator Platform or via other communication means as may be agreed between the Parties in writing. Your consents, approvals, acceptances and other statements given through the use of Verator Platform or via other agreed communication means shall have the same legal validity as your signature on a written document. Your agreements concluded with Verator via Verator Platform shall be deemed to be written agreements concluded between you and Verator. Before executing the currency exchange, Verator shall have a right to suspend it and demand from you documents which prove the legal source of funds related to the exchange. In case you do not submit such documents, Verator shall have a right to refuse to execute the exchange and to provide related information to relevant authorities, if so required under applicable laws. If cryptocurrency exchange is to be supported by other payment service providers (e.g. in case of SWIFT payments) as well, Verator may terminate execution of funds or cryptocurrency transfer if so lawfully requested by those payment service providers.

In case the currency is send to the incorrect account according to the incorrect data provided by you (i.e. you indicate a wrong IBAN number of your E-money account/blockchain wallet), it shall be considered that Verator has fulfilled the obligations properly and shall not be obliged to repay the transferred amount to you. Even though Verator shall not be held liable for the currency transfer based on the incorrect data provided by you, Verator shall take all reasonable measures to track the executed payment operation and shall put reasonable efforts to recover funds. All information necessary to track the executed payment operation shall be provided by you to the extent allowed under the laws which should assist you in directly contacting the person, who has received the payment for the issue of returning the transferred funds or currency.

Company reserves the right to refuse to process, or to cancel or reverse, any purchase of Virtual Currencies from Company, as the case may be, in Company’s sole discretion (for reasons which include but are not limited to Client’s possessing insufficient FIAT Currency, as the case may be, and/or if Client transfers of FIAT Currency, as the case may be, is not possible) and even after funds or Cryptocurrency, as the case may be, have been debited from your account.

The Company reserves a right to process the order of the Client if the amount of the fiat currency received to the bank account of the Company is different from the order amount, however, only if the difference is not more than EUR 20.00. In case the discrepancy is larger than EUR 20.00, the Company would contact the client via e-mail with a request to place an order with a sum, corresponding to the amount sent. Under the circumstances where there is no information received from the client within 3 business days, or if the Client would refuse to place a correct order, the Company would issue a refund, and direct the transfer back to the original sender, using the bank details of the Client.

When a client creates a sell order and submits cryptocurrency for exchange, the orders will be closed with a market-type order at the current market rate combined from multiple exchanges.

The minimum order size for Cryptocurrency if paid via a bank transfer is 1000.00 EUR. For payment card orders, the minimum size is 10.00 EUR. Any change in the minimum order size shall not be subject to the section ‎above, but shall take effect when published on the Site and Client’s continued use of the Services will be deemed to constitute the Client’s acceptance of such change.

The fee Company charges the Client on the purchase of Cryptocurrency is 9% for a wire transfer, and 10% for the debit/credit card payment.

The fees related to buying Virtual currency are as follows:

VISA/MasterCard
• Processing fee: 2,5%
• Network fee: 0.00075 BTC / 40 USDT ERC20 / 4 USDT TRC20

SEPA
• Service fee: 2%
• Network fee: 0.00075 BTC / 40 USDT ERC20 / 4 USDT TRC20

The fees related to selling Virtual currency are as follows:

Visa / Mastercard
• Processing fee: 3%
• Service fee: 0.5%

SEPA
• Processing fee: 1,5 EUR
• Service fee: 2%

The Client acknowledges and agrees that after making the first payment, he will have 48 hours to complete the verification. In case of refusal or expiration of the specified period, the company will return the money to the client's account.

All sale prices of Cryptocurrency shall be quoted in fiat Currency as determined by Verator. You hereby understand and agree that any price or rate of Cryptocurrency which appears on the Site, at which we sell Cryptocurrency, is accurate for that moment alone, due to the highly volatile nature of the price of Cryptocurrency and the period of time required for completing the transaction. Such period of time may vary depending on the method of payment and the third-party payment processors which are used by you or by us, as the case may be. The final price of your transaction will be the transaction rate which appears on the Site upon Execution and as stated in the order transaction summary, subject to the deduction of the Transaction Fee.

You understand and agree that the final price may be either higher or lower than any other rate which was previously available on the Site, in accordance with value fluctuation which may occur, that this may change either in your favour or in ours, and that we have no control whatsoever on such change.

INTELLECTUAL PROPERTY

Unless otherwise specified, all Materials on this Site are the property of Verator and are protected by copyright, trademark and/or other applicable laws. You may view, print and/or download a copy of the Materials from this Site 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 Verator and others used in this Site are the property of Verator and their respective owners. The software, domain name, text, images, colour combinations and graphics, data, prices, trades, charts, graphs, video and audio, as well as the structure, selection and order of its contents used on this Site belong to Verator. The Trademarks and Materials should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means. Any unauthorised use is prohibited and may violate copyright, trademark and/or other applicable laws and could result in criminal or civil penalties

We may provide access to certain parties to access specific data and information through our API (Application Programming Interface) or through widgets.

LIABILITY

All Services are provided without warranty of any kind, either express or implied. Verator does not represent that this Site will be available 100% of the time to meet your needs. Verator will strive to provide you with the Services as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information. Verator will use reasonable endeavours to ensure that the Site can normally be accessed by you in accordance with these Terms and Conditions. Verator may suspend use of the Site for maintenance and will make reasonable efforts to give you notice. You acknowledge that this may not be possible in an emergency. Verator cannot be held liable for any malfunction, breakdown, delay or interruption to the Internet connection, or if for any reason Services are unavailable at any time or for any period.

Account Holder represents and warrants that they are the legitimate owners and are allowed to use all digital currencies of the Transactions being carried out and do not infringe the rights of any third party or applicable laws.

The Verator liability shall be limited as follows:

• Verator shall be liable only for the direct losses made by Verator due to direct and substantial breach of the Terms and Conditions, and only for such losses which might reasonably be foreseen by Verator at the time of breach;
• Verator compensation for losses caused due to breaches of the Terms and Conditions  shall be limited to the amount of the transaction(s) that is (are) the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).

The Verator shall not be liable:

• if for any reason the Verator Site is unavailable or broken at any time or for any period;
• for mistakes made by credit institutions, settlement system or other third parties, untimely execution of money transfer, freezing of funds;
• for consequences arising out of improper discharge of Verator’s obligations regarding reasons caused by third parties which are beyond Verator control;
• for consequences arising out of lawful termination of the Terms and Conditions, cancellation or restriction of your access to the Elstum Platform as well as reasonable restriction or termination of the provision of Services.
• for failure to meet contractual obligations and losses, if obligations were not discharged or damage was made while Verator had been following the duties arising out of applicable laws

In all cases, Company shall not be responsible for the profit and income the Client has not received, loss of the Client's reputation, loss or failure of the Client's business, and indirect damages. Verator shall not be liable for any damage sustained to you as a consequence of untrue, incomplete, incorrect or misleading information, instructions or documents provided by you (or a person acting on behalf of you) to Verator in exercising its rights under the Terms and Conditions or failure to provide the required information, instructions or documents in time. You shall be fully responsible for the correctness, completeness and timeliness of any information, instructions or documents provided to Verator by you / persons acting on behalf of you.

The Company is not liable for any of the following types of loss or damage arising under or in connection with these Terms and Conditions or otherwise:

• Money funds transfer from the Company Account and for other Payment operations with money on the Client's Account if the Client has not protected his/her Passwords and identification instruments, and they have become known to other persons, and also for illegal actions and operations of third persons performed using counterfeited and/or illegal documents or illegally received data;
• Errors made by banks, payment systems and other third persons;
• Consequences which arise after Company legally terminates the Agreement, cancels Client’s Account or limits access to it, also after reasonable limitation/termination of the provision of a part of the Services;
• Any loss of profits or loss of expected revenue or gains, including any loss of anticipated trading profits and/or any actual or hypothetical trading losses.
• Any loss of or damage to reputation or goodwill; any loss of business or opportunity, customers or contracts; any loss or waste of overheads, the management or other staff time; or any other loss of revenue or actual or anticipated savings.
• Any loss of use of hardware, software or data and/or any corruption of data; including but not limited to any losses or damages arising out of or relating to any inaccuracy, defect or omission of digital currency price data; any error or delay in the transmission of such data; and / or any interruption in any such data.
• Any loss or damage whatsoever which does not stem directly from the breach of these Terms by the Company; and / or any loss or damage whatsoever which is in excess of that which was caused as a direct result of the breach of these Terms by the Company (whether or not the Client is able to prove such loss or damage).
• Any loss due to circumstances beyond the control of the Company, such as war or the threat of war, a change of political regime or other third-party actions.
• The Client should be very attentive while specifying the wallet number. In case a typing error was made, and the funds were directed to a wallet which is different from the one, belonging to the Client, the transaction is irrevocable. It is suggested to use a wallet that only the Client has access to. The Company does not bear the responsibility for the loss which may result from a typing error and / or the use of the wallet which is accessible to third parties.

The Party shall be exempted from the liability for non-performance of obligations under the Terms and Conditions if it can prove that non-performance of obligations under the Terms and Conditions is caused by force majeure circumstances which are proven according to the applicable laws.

The imposition of liability under the Terms and Conditions shall not affect the right of the aggrieved Party to claim full compensation for damage in case of gross negligence or willful misconduct.

Where Verator‘s Site contains links to other sites and resources provided by third parties, these links are provided for your information only. Verator has no control over the contents of those sites or resources and accepts no responsibility for them or for any loss or damage that may arise from your use of them.

REPRESENTATION AND WARRANTIES

Right to Act. You represent and warrant that:

• It is a corporation (in case the Account Holder is a legal entity), validly existing under the laws of the jurisdiction of its incorporation and it conducts its business in compliance with applicable laws and not in violation of the rights of any third party; it has all right, power and authority to enter into the Terms and Conditions and to fully perform its obligations hereunder; and there is no other restriction, limitation, contractual obligation or statutory obligation which prevents it from fulfilling its obligations under the Terms and Conditions.
• You shall also not provide access to Account to other third parties which are not authorized to initiate cryptocurrency exchange on your behalf. In case the Party becomes aware that any unauthorized third party is trying to / tried to access the Account, the other Party should be informed about this immediately.

Use of Services. You represent and warrant that:

• You undertake to use the Services pursuant to, and only for the purposes set forth in the Terms and Conditions. You intend to use purchased cryptocurrency for your personal, legitimate purpose.
• You will not use the Services for any unlawful purpose. Among the activities and services constituting illegal purposes are (but are not limited to) any act or omission that is illegal in the place where you are located or normally domiciled or where Verator is located or for any of the following:
  • money laundering, terrorist financing, financial crime, white-collar crime and corruption, human trafficking (including child pornography);
  • muggling (including narcotics, weapons, drugs, tobacco, etc.);
  • cybercrime;
  • activities and services related to violation of intellectual property rights;
  • credit counselling or repair agencies;
  • credit protection or identity theft protection services;
  • direct marketing or subscription offers;
  • Internet, mail or telephone order pharmacies or pharmacy referral services;
  • items that encourage, promote, facilitate or instruct others to engage in illegal activity;
  • items that may be counterfeit including, but not limited to designer handbags, clothing and accessories, and consumer electronics;
  • items that promote hate, violence, racial intolerance, or the financial exploitation of a crime;
  • items that promote, support or glorify acts of violence or harm towards self or others;
  • live animals;
  • medical equipment;
  • multi-level marketing businesses (MLM);
  • payment aggregators;
  • prepaid phone cards or phone services;
  • purchase, sale or promotion of drugs, alcohol, or drug paraphernalia, or items that may represent these uses;
  • rebate-based businesses;
  • up-sell merchants;
  • using the Service as a means to transfer funds between bank accounts held in the same name;
  • using the Service for any illegal purpose, or in violation of any local, state, national, or international law, including, without limitation, laws governing intellectual property, taxation and other proprietary rights and data collection and privacy;
  • using the Service to collect payments that support pyramid or Ponzi schemes, matrix programs, other “business opportunity” schemes or certain multi-level marketing programs;
  • using the Service to control an account that is linked to another account that has engaged in any of the foregoing activities;
  • using the Service to defame, harass, abuse, threaten or defraud others, or collect, or attempt to collect, personal information about users, registered recipients, or third parties without their consent;
  • using the Service to intentionally interfere with another user’s enjoyment of it, by any means, including uploading or otherwise disseminating viruses, adware, spyware, worms or other malicious code;
  • using the Service to make unsolicited offers, advertisements, proposals, or to send junk mail or spam to others;
  • using the Service to send or receive funds for something that may have resulted from fraud or other illegal behaviour;
  • using the Service while impersonating any person or entity or falsely claiming an affiliation with any person or entity;
  • weight loss programs;
  • wire transfer money orders.

Third-Party Service Providers. You acknowledge that Verator may use third-party service providers in the performance of the Services provided that such third-party service providers are bound by terms and conditions substantially similar to those Verator is bound to under the Terms and Conditions. In addition, you acknowledge that Verator may use any of its affiliates in the performance of the Services. Disclosure of confidential information to such third-party service providers as long as such information is needed for the proper provision of Services shall not be considered as breach of the Terms and Conditions and you agree with such disclosure.

Reliance on Third Party Information. You hereby are informed that Verator may be also relying on third-party information about you (and vice versa) for identification purposes to the extent allowed under legal acts.

Other representations and warranties. You represent and warrant that:

• You are not a politically exposed person (PEP);
• Your wallet is owned and controlled exclusively by you;
• You are not subject to international sanctions;
• You are not engaged and have never been engaged in any illegal field or activity (sale of drugs, sale of banned goods;
• The execution of the transaction does not and will not violate any other agreement to which you are bound or any law, rule, regulation, order or judgment to which you are subject;
• You are solely responsible for complying with applicable laws regarding the use of the Service including, without limitation, the determination of whether a transaction complies with laws applicable to you;
• You possess the knowledge and judgment necessary to decide whether to use the Service or otherwise engage with other use of the Service;
• The origin of your funds is from legal sources (i.e., salary, dividends, inheritance or similar), the funds are not related to money laundering, validation of legal assets, etc.
• Your citizenship country is the same as a country which issued the ID document which you provided during the KYC process. In case your citizenship country does not correspond to the country which issued your ID document, you will separately contact Verator and indicate your citizenship.

RISKS

Verator shall not be responsible for any damage or loss incurred by Client as a result of the Services. By accepting the Terms & Conditions, the Client acknowledges that he has fully read and understood and is aware of the possible risks related to the Services, and electronically signs an agreement with the Company made by these Terms and Conditions.

The Client confirms that s/he understands and agrees that the risks associated with the Services are acceptable by the Client, taking into account his objectives and financial capabilities.

The Client acknowledges that purchasing or selling Cryptocurrency carry significant risk. Prices can fluctuate on any given day. Because of such fluctuations, Cryptocurrency may gain or lose value at any time. Cryptocurrency may be subject to large swings in value and may even become absolutely worthless. Cryptocurrency trading has special risks not generally shared with official currencies, goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or commodities such as gold or silver, Cryptocurrency is a unique kind of currency, backed by technology and trust. There is no central bank that can take corrective measures to protect the value of Cryptocurrency in a crisis or issue more currency.

The Client acknowledges and agrees that Verator does not act as a financial advisor, does not provide investment advice services, and any communication between the Client and Verator cannot be considered as investment advice. The Company provides exclusively the exchange services and does not provide brokerage services to the customers. Without prejudice to our foregoing obligations, in asking us to enter into any transaction, the Client represents that he has been solely responsible for making his/her own independent appraisal and investigations into the risks of the transaction. The Client represents that s/he has sufficient knowledge, market sophistication and experience to make his/her own evaluation of the merits and risks of any transaction and that s/he received professional advice thereon. Verator gives no warranty as to the suitability of the Services and assumes no fiduciary duty in our relations with the Client.

The Client confirms that he understands that for various reasons his/her user account may become temporarily suspended and may not be accessible or wallet may not be operational. Client agrees to waive any and all rights, claims or causes of action of any kind pertaining to any damage as a result of such action.

Verator is not liable for any price fluctuations in Cryptocurrency. In the event of a market disruption, Verator may, at its discretion and in addition to any other right and remedy, suspend the Services. Verator will not be liable for any loss suffered by Client resulting from such action. Following any such event, when Services resume, the Client acknowledges that prevailing market rates may differ significantly from the rates available prior to such event.

TERMINATION

Your agreement with Verator may be terminated without reason by either party following settlement of any pending Transactions. Such termination will be effective when the terminating party receives the acknowledgment in writing off its notice to terminate from the other party. Such termination shall not affect the obligations or rights of either party under these Terms and Conditions  which had accrued prior to the notice of termination, nor the Transactions and its related obligations and rights concluded before such termination was effective.

Including without limitation, our right to: limit, suspend or terminate the Services and close Accounts, prohibit access to the Site and its content, Services and tools, delay or remove hosted content, and take technical and legal steps to keep Account Holders off the Site if Verator considers that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms and Conditions. Additionally, Verator may, in appropriate circumstances and at its discretion, suspend or terminate Accounts for any reason, including without limitation: (1) attempts to gain unauthorized access to the Site or another Account Holder’s Account or providing assistance to others attempting to do so, (2) overcoming software security features limiting the use of or protecting any content, (3) usage of the Services to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms and Conditions, (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 Verator, acting in its sole discretion.

Verator also reserves the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue Site or Services. Account Holder agrees that Verator will not be liable to Account Holder or to any third party for termination of their Account or access to the Site. Account Holder by completing verification and entering email on Verator site - agrees to provide the personal information and Verator has to collect, manage and save all user data based on the latest GDPR requirements.

The Company has the right to unilaterally and without a prior warning apply one or several of the following measures:

• suspend execution of transfers;
• suspend the provision of all or part of services to the Client;
• limit Client's access to the Account;
• detain Client's money which has caused a dispute;
• fully or partially suspend Payment operations on the Account and/or the Payment instrument;
• refuse to provide services;
• return arrested funds on the Account of the Client to the primary sender of funds.

In this case, at first funds of primary senders are arrested on the Account of the Client, and if the Client does not perform requested actions (additional identification of the Client, submitting requested documents) within the set time period or if the Client does not submit a reasoned explanation of the indicated case, the arrested funds shall be returned to the primary sender.

In case Company has reasonable suspicions that the Client is engaged in money laundering, financing of terrorism or other criminal activity is processed, the Company has the right to suspend the provision of services without providing the Client with an explanation or notification until reasonable suspicions are fully denied or proved.

The Account and/or the payment instrument can be blocked at the initiative of the Client if the Client submits a request to Company and informs the Company that the payment instrument of the Client has been stolen or lost in another way, or money on the Account and/or the payment instrument is used or may be used in another illegal manner.

The Client has the right to terminate the Terms and Conditions unilaterally without appealing to the court, but she/he has to notify the Company thereof in writing 30 (thirty) calendar days in advance. If the Client terminates the Terms and Conditions, money left on the account is returned to the same Client account, which it was written off.

Under a request of Company, the Terms and Conditions and its supplements may be terminated immediately if no operations have been made on the Account of the Client for more than a year.

Termination of Terms and Conditions does not exempt the Client from appropriate execution of all responsibilities to the Company, which have arisen until the termination.

Verator shall have the right to terminate any existing business relationships between Verator and Customer and to close any existing Account without any prior notice, if:

• the Customer has failed to furnish or has furnished false, incorrect or incomplete information regarding their identity or the origin of their funds;
• the Customer is, or has been, connected with or suspicion arises to Verator that the Customer is connected with money laundering and/or terrorist financing or performance of fraudulent activities;
• Verator has suspicion that the Customer is using, has used or has attempted to use the Account for conducting any unlawful activities, including for money laundering or terrorist financing related operations, as well as for any activities aimed at circumventing international sanctions, restrictions or prohibitions or national sanctions or any other restrictions;
• Verator is in possession of information about the Customer’s reputation which may have a direct or indirect impact on the operations of Verator or may cause unfavourable implications for the Verator;
• Verator supervisory authority, any government institution, international organization, bank partner urges termination of the business relationship with Customer;
• The Customer does not submit to Verator the information requested by the Verator or required under applicable laws;
• In other cases specified in the internal Verator Policy

If the Client terminates the Terms and Conditions or if the Company terminates the provision of the Company Account service to the Client, money held on the Client's Account shall be transferred to the Client's bank account or to the account in another payment system indicated by the Client (Not, in any case, 3rd party account, these accounts are not supported for withdrawal, refund, return). The Company has the right to deduct from such repaid money the amounts that belong to Company. In the event of a dispute between the Company and the Client, Company has the right to detain money under dispute until the dispute is solved.

COMMUNICATION

Any communication between Verator and you shall take place primarily through email indicated in these Terms and Conditions and the e-mail you have provided while registering to the Site. Verator shall not be responsible for any mistake, inaccuracy, technical defect or damage caused by incorrect, outdated Client contact details and their subsequent use by Verator.

Notices and other communication sent by e-mails shall be deemed delivered to and received by the Party on the same Business Day it was sent.

The Parties shall have a right to communicate within other means of communications, including the post or telephone.

CONTACT

If you have any feedback, questions, or complaints, contact Verator via support@verator.io

When you contact Verator please provide with your name, email address, and any other information Verator may need to identify you, your Verator Account, and the transaction on which you have feedback, questions, or complaints.

COMPLAINTS

In the event of a complaint, please set out the cause of your complaint, how you would like us to resolve the complaint and any other information you believe to be relevant.  A customer complaints officer (an "Officer") will consider your complaint. The Officer will consider your complaint without prejudice based on the information you have provided, and any information provided by Verator.

Within 15 business days of our receipt of your complaint the Officer will address all points raised in your complaint by sending you an email ("Resolution Notice") in which the Officer will: (i) offer to resolve your complaint in the way you requested; (ii) make a determination rejecting your complaint and set out the reasons for the rejection; or (iii) offer to resolve your complaint with an alternative solution. In exceptional circumstances, if the Officer is unable to respond to your complaint within 15 business days for reasons beyond Verator’s control, the Officer will send you a holding reply indicating the reasons for a delay in answering your complaint and specifying the deadline by which the Officer will respond to your complaint (which will be no later than 35 business days from our receipt of your complaint).

Any offer of resolution made to you will only become binding on Verator if accepted by you. An offer of resolution will not constitute any admission by Verator of any wrongdoing or liability regarding the subject matter of the complaint.

JURISDICTION

If it has not been possible to resolve a dispute through the dispute process set out in the Complaints section any dispute arising out of or in connection with this Agreement, including any question regarding the existence, validity or termination of this Agreement, (a "Dispute") shall be referred to and finally resolved by Lithuanian courts.

PERSONAL DATA

We collect personal data about the users of this Site. Please refer to our Privacy Policy in this regard.

FORM OF THE TERMS
The Client and the Verator exchange place acknowledge that the digital form of this terms is legally equal to the agreement executed in written form. 

Supplement №1 Pricing
The Company’s BTC price consists of different BTC ticker exchange prices inclusive Company's Interest.

DISCLAIMER
Due to the exchange rate difference, the difference in the time of the transaction, as well as other circumstances affecting the course, the size of the real Commission may be different from the stated.