Trading Terms and Conditions
*PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE TRADING. BY TRADING OR CONTINUING TO TRADE YOU ARE AGREEING TO BE BOUND BY THE TERMS AND CONDITIONS HEREIN*
1. LONDONLINK OTC TRADING TERMS AND CONDITIONS
1.1 WHAT'S IN THESE TERMS?
LondonLink OTC Limited (hereinafter "We," "we", "Us", "us", "Our" or "our") are the provider of Cryptoasset brokerage services allowing you to buy and sell Cryptoassets (hereinafter "Services").
Cryptoassets (or "Cryptocurrency" as they are also referred), in relation to the provision of Our Services, means any cryptographically secured digital representations of value or contractual rights that can be transferred, stored or traded electronically.
This document and terms and conditions herein are our Trading Terms and Conditions (hereinafter “Trading Terms”).
A reference to “You”, “you”, “your” or “yours” in the Trading Terms means, as appropriate, you as an individual customer or you as, or for a Corporate customer.
A reference to a “Corporate” in the Trading Terms means, any other entity/person or entities/persons including but not limited to a corporate or non-corporate entity, a trust, an SPV, a group, a consortium or other vehicle.
1.2 ACCEPTANCE OF THESE TERMS
These Trading Terms contain the terms and conditions of the provision of Our Services to you. You are using our Services and agree that the Trading Terms will be binding on you (and will continue to be binding on you until such time as it is terminated in accordance with clause 19) when you are provided with a copy of the Trading Terms and then do any one of the following, or any combination of, the following:
- Create an account on our site or have an account created on our site by any other method; or
- ask to, signify or otherwise express or imply your desire to trade with Us through our site; or
- ask to, signify or otherwise express or imply your desire to trade with Us using any other method including (but not limited to) third party websites such as LocalBitcoins.com, instant messaging apps or any other means of verbal or written communication (hereinafter “Third Party Platforms”).
Failing to adhere to the Trading Terms will result in you being in breach of contract making remedies available to Us.
If you do not agree to these Trading Terms, you must not use our Services.
Before you use Our Services you also must meet our verification requirements which are explained in clause 2, below.
We recommend that you print a copy of these Trading Terms for future reference.
Cryptoassets are not backed or guaranteed by any government or financial institution.
When purchasing Cryptoassets from LondonLink, you must satisfy yourself that you understand all the associated investment risks in light of the above, and generally. Before you decide to invest, do not invest in anything you cannot afford to lose.
You must acknowledge when buying and/or selling Cryptoassets from LondonLink that 100% of your capital invested is at risk. We cannot, and do not make any guarantee about the future value and we will not be held liable for any losses you incur, or request a benefit from any gains you make.
Furthermore, we are not qualified or authorised to give any advice. We very strongly suggest obtaining financial advice from your professional advisor on any investments you make in Cryptoassets.
For the avoidance of doubt, LondonLink are a brokerage offering an ‘execution only’ service at this time. It is solely your responsibility to store any Cryptoasset received in a safe manner. This includes but is not limited to providing LondonLink with the correct and appropriate wallet address to receive Cryptoassets purchased through LondonLink
1.3 WHO WE ARE AND HOW TO CONTACT US
We are a limited company registered in England and Wales under company number 11668544 and have our registered office at 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ.
To contact Us, please email email@example.com or telephone our customer service line on 0207 971 1013.
Our website is also available at https://www.londonlinkotc.co.uk (hereinafter “our site”).
1.4 THE FOLLOWING TERMS AND POLICIES ALSO APPLY TO YOU IF YOU USE OUR SERVICES
The terms and policies below also apply (in addition to these Trading Terms) when using our Services:
(together the “Other Policies”)
1.5 WE MAY MAKE CHANGES TO THESE TERMS
We may amend our Trading Terms or Other Policies from time to time. You will be provided with any new versions, if required, otherwise they will be made permanently available on our site from the date they apply.
By continuing to trade with Us, positively affirming your agreement in any other way, or by notices on our site, you are agreeing to be bound by any new versions of the Trading Terms and Other Policies as the case may be.
2. HOW TO USE OUR SERVICES
The Trading Terms apply at all times when we provide Services to you.
Before you can use our Services you will be asked to and you must complete our verification requirements. Verification information will be required as part of our AML policies such as conducting credit checks, sanction list searches, PEP register searches, blockchain analysis and other related due diligence checks. (hereinafter “Verification Information”)
2.1 ONGOING USE OF OUR SERVICES
For the ongoing use of our Services after providing the Verification Information we may, before and/or during the trading perform some initial or further due diligence on you and/or on an entity you represent (hereinafter “Ongoing Due Diligence”).
It is a condition of the Trading Terms and, you agree that you will provide the required information as part of the Ongoing Due Diligence that we may request from you.
This should be provided in a timely manner and in any event you agree to do so before we are able to provide our Services to you. If you fail to provide this, it is likely that we will stop providing our Services to you with immediate effect.
If, following the collection of Verification Information and/or after completing Ongoing Due Diligence, the information does not meet our legal, regulatory and/or internal policies, you agree that we can no longer provide our Services to you. Therefore, we reserve the right to cease offering our Services to you with immediate effect.
If we become satisfied that the Verification Information and the Ongoing Due Diligence are complete, accurately provided and sufficiently processed by LondonLink, you will be verified and we will be in a position to offer our Services to you(hereinafter “Verified”), unless and up to the point in which we communicate to you the need to do any Ongoing Due Diligence at a later time.
3. OUR TRADING PROCESS
Our trading process involves the following three stages: (1) Requesting and receiving a quote, (2) locking the quoted price and (3) settling the trade.
3.1 Stage 1 - Receiving a Quote
To receive a quote you will need to contact us through your account on our site or via any one of the Third Party Platforms to request a quote (hereinafter “an RFQ”). The trading process through your account on our site may not take the form outlined below if a Third Party Platform is used. However, even if the process may be slightly different than what is outlined below, it is still governed by the same trading terms and conditions.
All quotes in response to an RFQ will be provided in Great British Pounds (GBP) unless otherwise agreed by you and us when requesting a quote.
NB - please note we reserve the right to pass on any bank (or other) charges or costs when the fiat transfer is not in GBP or not to/from a UK bank account.
If you are buying a Cryptoasset you must request an RFQ in a clear and unambiguous way similar to the below:
- “I want to buy 1 BTC, please can you give me a quote”; or
- “Please quote me to buy 1.2536 BTC”; or
- “I want to buy £1000 worth of BTC. Please can I have a quote”.
If you are selling a Cryptoasset you must request an RFQ in a clear and unambiguous way similar to the below:
- “I want to sell 1 BTC, please can you give me a quote”; or
- “Please quote me to sell 1.2536 BTC”; or
- “I want to receive £1000 worth of BTC in my account. Please can I have a quote”.
Please note that in our examples above, BTC refers specifically to Bitcoin. We may provide Services in relation to other types of Cryptoassets. If we confirm to you we provide Services in relation to any other Cryptoassets, you must use the full name (in place of BTC in the examples above) to clearly identify which Cryptoasset you are asking for an RFQ in relation to.
We will then respond to your RFQ in an unambiguous way informing you of the best priced quote available at the time. Our quote will look similar to the below unless we have, by your and our previous conduct, agreed other methods of quoting in response to your RFQ:
|Date||Name||Price per BTC||Amount of BTC||GBP amount for trade|
The first column is the date we are providing the quote.
The second column is your name.
The third column is the quoted price (in fiat currency, denominated in GBP/£ in this example) per Cryptoasset (e.g. price per Bitcoin). Sometimes referred to as the “rate”.
The fourth column is the quoted number of Cryptoassets required to be sent or received if the quote is accepted.
The fifth column is the quoted amount of fiat currency (denominated in GBP/£ in this example) required to be sent or received if the quote is accepted.
3.2 Stage 2 - Locking a trade at the quoted price
When you receive a quote from Us in response to an RFQ you have two choices:
- Decline the quoted rate by a non-response or any negative affirmation, including but not limited to, by writing or saying “no”, “don’t lock” or similar;
Accept the quoted rate by any positive affirmation, including but not limited to, by writing or saying “lock”, “yes”, “take”, “fine”, “ok”, “done” or similar.
Please note: Accepting the quote means you are committing to complete the trade with Us at the agreed price without regard to any other variable factors including (but not limited to) the changing market (or ‘spot’) price of the Cryptoasset or fiat currency and /or banking limitations such as daily transfer limits. Us completing a trade at a quoted rate is subject to clause 3.5.
You agree that if you accept a quoted rate you will send, pay or transfer the agreed amount of Cryptoasset or fiat in the denomination you had agreed when asking for a RFQ.
In order for Us to keep our Services competitively priced, if you do not respond to a quote from Us within 60 seconds, we are not obliged to honour a quote. We may, however, decide to honour the quote in our absolute discretion. We may also retract a quote if you have not already accepted it within the 60 second window aforementioned. If the quote is retracted but you would like another quote then we will happily provide this.
*For the avoidance of doubt, our quotes are available for a maximum of 60 seconds but may be retracted if we communicate this to you (including, but not limited to, by saying “gone”, “retracted”, “expired” or “no”) before you positively affirm your acceptance. If no response is received in 60 seconds, the quote is deemed retracted in any event*
3.3 Stage 3 - Settlement of the trade
Trade settlement is the process of transferring Cryptoassets into the wallet of a buyer and fiat into the bank account of the seller, following acceptance of an RFQ.
Once the quote has been provided and you have accepted the quoted price of the trade, we will settle the trade as soon as possible, subject to any issues meaning a trade cannot be completed which will be dealt with in accordance with clause 3.5.
3.3.1 If you are buying Cryptoassets from Us:
(if you are selling Cryptoassets to Us please skip to 3.3.2)
Individuals: If you are a Verified individual:
You must send fiat from a personal account in your name. We must return any monies in accordance with clause 3.5, if , following our checks, we have reason to believe that the fiat has not come from an account in your name.
Not an individual: If you are a Verified Corporate:
You must send fiat from a business account in your Corporate’s name for which either: (1) you are a Director or (2) you have documentary evidence (to our satisfaction) to prove a Director (or a Trustee) has given you specific authority to make this payment, before you make the payment or agree a rate.
Once the fiat has cleared into our account (for which you accept there may be delays out of our control, you agree to wait through the delay and agree not to blame or hold Us liable in the interim, we will ask you to provide your wallet address for us to send the Cryptoassets to. We will only be obliged to send you Cryptoassets in the event there is not an issue in the trading process in accordance with clause 3.5 or otherwise. If there is an issue in the trading process, return of fiat and/or Cryptoassets will be dealt with in accordance with clause 3.5.
Where there are delays, whether in our control or out of our control, we aim to keep you updated as and when appropriate.
You agree that it is your sole responsibility to ensure the wallet address provided to us for receiving any Cryptoassets from us is accurate, up to date and not missing any digits. If relevant you will also ensure that the wallet address is specifically for the type of Cryptoasset you are receiving. We are happy to assist you with trying to identify this by providing general information, but we accept no liability and you acknowledge that providing the wallet address to us is your sole responsibility.
3.3.2 If you are selling Cryptoassets to Us:
We will provide you with a wallet address for the type of Cryptoasset you have identified when asking for an RFQ. You must not send Cryptoassets to any wallet address other than the one we provide you with, immediately prior to requesting sending of the specific Cryptoasset quoted for.
If you have incorrectly identified the Cryptoasset when you ask for an RFQ, we will not be liable for any losses caused by you in error, including but not limited to the Cryptoassets themselves or their value depreciation incurred by your incorrect identification. You agree to be contractually obliged to complete the original trade with us regardless of aforementioned errors and/or losses.
You, the individual or the Corporate sending the Cryptoassets must, at all times, be Verified. If for any erroneous reason it is discovered that you are not Verified (including if you have not provided any Ongoing Due Diligence information whether previously requested or not) when part way through a trade, you agree to provide the requested verifications before we are required to settle the trade.
Once we are satisfied that the Cryptoassets have been received by Us (or otherwise satisfied that they will be received) we will set up a transfer of fiat in the pre-agreed fiat currency denomination to the bank details you provide so long as we are satisfied you are Verified and the bank owner information matches the Verified account.
To be clear, we are only obliged to set up the agreed fiat transfer if the bank details you provide Us with are evidently (to our satisfaction) yours and the Cryptoassets have been received safely by Us. If we cannot set up the agreed fiat transfer, the trade may be dealt with using one of the mechanisms in clause 3.5.
For our accountancy and other purposes, we will produce a receipt of each and every trade we conduct with you. At your request, we can provide you with a copy.
If for some reason it is appropriate to issue you with an invoice for any unsettled trade(s) and/or debts owed by you, we will do so. Invoices are expressed to be due immediately unless otherwise provided on the invoice.
3.5 Issues during the trading process
3.5.1 If you send fiat from a bank account not in your Verified name
If possible, we will always verify whether a fiat transfer came from you by checking the sender’s name on our bank statement against the previously collected Verification Information. If we do not believe it came from you, or you or the third party are not Verified, we reserve the right to return the funds to the same account that the fiat came from.
If necessary, we may ask you to provide us with evidence satisfying us that the fiat came from your account. This may be asked to be evidenced by you sending us a copy of a bank issued document and/or card showing the name and full account details of the sender being the same as on our bank feed or other information sources of ours. We may require more evidence to support evidence already provided if we are in doubt as to the validity of the same.
At times we may be unable to identify the payment sender’s bank details, therefore you agree to provide us with evidence of the payment sender’s bank details.
We will not send the fiat to anyone else and you agree to not pressure us to do so in light of what you have agreed to in the Trading Terms.
3.5.2 Overpayment or underpayment of fiat or Cryptoassets
If Verified, and you send us an overpayment or underpayment of fiat or Cryptoassets relating to a locked quote, we may, at our sole discretion have to return the fiat or Cryptoassets to you.
However, if we decide we do not have to return the fiat or Cryptoassets we will decide to either A or B.
A. Round up or down the Cryptoassets or fiat at the agreed rate to the amount of fiat or Cryptoassets received by Us; or
B. Return the difference in fiat or Cryptoassets received by us to your bank account or wallet address you provide (so long as the bank account is evidenced yours and Verified). This can be evidenced by sending us a copy of a bank issued document or card showing the name and full account details of the sender being the same as on our bank statement. In addition, further evidence may be required if we are in doubt as to the validity of the already provided evidence.
We reserve the right to pass on any charges to you that we may incur as a direct result of your overpayment or underpayment of fiat or Cryptoassets.
3.5.3 Input errors by us
If a quote in response to an RFQ has been given in error by us, you acknowledge that we are not obliged to trade at that rate.
For example, if we miss or add a decimal number by mistake in our quote as follows “15 BTC” opposed to the intended “1.5 BTC”.
If we make any other errors when quoting, sending fiat, Cryptoassets or otherwise, you agree to assist us expeditiously in correcting this error. This may include you sending Cryptoassets or fiat back to us. If you do not assist us expeditiously in correcting this error we may take whatever lawful action necessary, including but not limited to, holding you in breach of contract resulting in civil legal action against you, contacting relevant authorities including the police to explore if you have any criminal liability, immediately terminating the provision of our Services to you and terminating the provision of our Services to any of your associates or referrals immediately.
3.5.4 If fiat or Cryptoassets are sent to incorrect details or addresses
If you are Verified and you or we are sending fiat or Cryptoassets, the receiving party will not be liable if the sending party does not send fiat or Cryptoassets to the bank details or the Cryptoasset address respectively.
If we are receiving Cryptoassets in relation to a trade, we are not liable to you or anyone else for any losses caused by sending Cryptoassets to an invalid address or any addresses other than the one provided to you by us at the time of the specific trade.
If we are receiving fiat in relation to a trade, we are not liable to you or anyone else for any losses caused by sending fiat to any account other than the account details provided to you by us at the time of the specific trade.
If we send Cryptoassets or fiat to an address or bank details provided by you in the agreed amount , you agree we have fully discharged our obligations relating to that specific trade under these Trading Terms.
3.5.5 Return of fiat or Cryptoassets for other reasons
If (1) you are not Verified and you send fiat or Cryptoassets; or (2) when conducting blockchain analysis and/or any other related due diligence on receipt of fiat or Cryptoassets in relation to a trade or otherwise, we reserve the right to return fiat of equal value for compliance or other reasons.. Whether this occurs during a trade or not, you agree that we will not be obliged to complete the specific trade.
If we have received fiat, you or the owner must evidence ownership of the account the fiat has been transferred from. This can be evidenced by sending us a copy of a bank issued document or card showing the name and full account details of the sender being the same as on our bank feed. We may require more evidence to support evidence already provided if we are in doubt as to the validity of the same.
If we have received Cryptoassets, we shall return the same number of Cryptoassets to the source they were sent from, minus any mining fees or other fees or costs incurred by us relating to your unsolicited sending of fiat or Cryptoasset to us.
3.5.6 Maximum limits when sending fiat
Sometimes we or you may reach a daily limit (or other limit) when setting up a fiat transfer. It is your responsibility to make sure you know your bank’s limits and not to ask for an RFQ or lock a trade if it will mean you cannot send the fiat instantly, or at worst, the same working day. You will be in breach of this contract if you do not complete a trade once you lock in a price and we reserve the right to hold you to that breach if it is not resolved expeditiously. You acknowledge that at times, by not holding you responsible for breach of the contract, does not mean that you will never be held in breach.
If you reach a limit with your bank, you will provide evidence of reaching the limit to us, to our satisfaction. You agree that in our absolute discretion we may decide to act as follows: (1) adjust the quote down to the maximum amount you can send at the same rate; (2) require you to send the fiat over multiple transactions from your Verified account and across multiple days if the case may be; or (3) cancel the trade and we return any fiat to your Verified account (if some fiat was sent) in relation to this trade (subject to the restrictions in clause 3.5.1 relating to Verified accounts in your name).
If we reach a limit with our bank, we agree that we will complete the trade at the agreed rate as soon as it is possible for us to do so which will, in usual circumstances, be the following working day.
THE TERMS IN THIS BOX APPLY IN ADDITION IF YOU CREATE AN ACCOUNT ON OUR SITE
CREATING AND CLOSING A WEBSITE ACCOUNT
In order for Us to provide you with Services, we may need you to create an account or otherwise interact with our site.
When you create an account on our site you will become a website customer (hereinafter “Website Customer”). Once you become a Website Customer you will have, as a result, entered into the Trading Terms contract (and any Other Policies you agreed to at the time) with Us.
You may cease to be a Website Customer at any time by clearly notifying Us via firstname.lastname@example.org. Notifying Us of your wish to cease to be a Website Customer will be effective when you receive email confirmation in reply that we have actioned your request. Please note that you will cease to be a Website Customer but not cease to be bound by the Trading Terms or Other Policies which remain in full force and effect.
YOU MUST KEEP YOUR ACCOUNT DETAILS SAFE
If you choose, or you are provided with, a user identification ID (or email address or similar), password or any other piece of information as part of our account sign up or security procedures, you must treat such information as confidential. You must not disclose it to any third party.
We may require the use of SMS/ MFA/ TOTP codes (2 Factor Authentication) in the future and reserve the right to require you to use this to login and for other important high security functions once logged in.
We have the right to disable any user identification ID (or email address or similar) or password, whether chosen by you or allocated by Us, at any time, if in our reasonable opinion you have failed to comply with the Trading Terms or any of the Other Policies.
If you know or suspect that anyone other than you knows your user identification code or password, you must promptly notify Us by email at email@example.com.
WE MAY SUSPEND OR WITHDRAW YOUR ACCOUNT
Your account on our site is made available to you free of charge.
We do not guarantee that your account, or any content on it, will always be available or be uninterrupted. We may suspend or withdraw or restrict the availability of all or any part of your account for business, legal and/or operational reasons.
You are also responsible for ensuring that no one other than you accesses your account. If in the event someone other than you accesses your account, or we reasonably believe someone other than you is accessing your account, we may suspend or withdraw or restrict the availability of all or any part of your account without notice.
We are not liable for any losses suffered by you as a result of suspending or withdrawing your free account.
4.1 Available remedies
Whether specifically reserved or referred to in a clause of these Trading Terms or not, we hereby reserve the right to hold you in breach of contract, in tort or otherwise if we believe you to be in breach of any legal, tortious or equitable obligations. We will communicate the failure of your legal obligation and the circumstances to you and if it is not satisfactorily resolved in a reasonable time we will stop making Services available to you, may issue legal proceedings against you. or take any other action deemed necessary.
4.2 Reversed payments
If you believe you have made a payment to us in error, you agree to inform us immediately. We will then look into the situation as soon as possible.
You agree that you will not reverse any fiat payments sent to us in any circumstances. If a payment sent to us is reversed, we will hold you in breach of the Trading Terms and you are therefore, liable to us for direct and consequential losses arising from that breach suffered by us, including, but not limited to, issuing a claim against you (to the maximum extent permitted in law) for:
- if appropriate the fiat value of the payment concerned; and/or
- the loss of banking services (regardless of the duration banking services are lost for); and/or
- the loss of profit; and/or any other liabilities or losses arising as a result of reversed payments, including management or consultant time explaining the situation to banking providers and subsequent resolution of the same.
5 OUR RESPONSIBILITY FOR LOSS OR DAMAGE SUFFERED BY YOU
5.1 Our liability
Our liability to you under these Trading Terms or otherwise is limited to your direct losses as a result of our clear breach of the Trading Terms. For the avoidance of doubt, we will not be in breach of the Trading Terms if we cannot complete a trade because there is an issue in the trading process in accordance with clause 3.5, or another issue which is not as a direct result of our contractual or tortious actions or omissions as the case may be.
5.1.1 Whether you are a consumer or a business user:
- We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors and for fraud or fraudulent misrepresentation.
5.1.2 If you are a business user:
- We exclude all implied conditions, warranties, representations or other terms that may apply to our site and any content on it, these Trading Terms and any Other Policies.
- We will not be liable to you for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with:
- your inability to use, our site or Services; or
- use of or site or reliance on any content displayed on our site.
- loss of profits, sales, business, or revenue;
- business interruption;
- loss of anticipated savings;
- loss of business opportunity, goodwill or reputation; or
- any indirect or consequential loss or damage.
In particular, we will not be liable for:
5.1.3 If you are a consumer user:
- Please note that we only provide our site for private use. You agree not to use our site for any commercial or business purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
5.2 Our limit on liability owed to you
In any event, any liability we owe to you is strictly limited to 100% of the fiat value of the particular disputed trade (or the fiat equivalent value of the particular trade disputed, at the rate that it was quoted, which is based upon ‘spot’ price at the time).
6 HOW WE MAY USE YOUR PERSONAL INFORMATION
7 ANTI-MONEY LAUNDERING
It is absolutely prohibited for you to try and use Our Services for the purpose of; cleaning money, hiding money, in any way attempting to obscure the source of funds, or attempting to circumvent financial regulations or restrictions.
If we suspect you have attempted to deceive in this way or engage in money laundering activities, terrorist financing or any fraud then, LondonLink will cease to make any services available to you, and any associated individuals or entities we think may be involved or related. You and they will also be blacklisted from the use of LondonLink’s services.
We will take a zero tolerance approach in all circumstances to any illegal activity you are, or may become, involved in. We are fully committed to our responsibilities in this regard and reserve the right to report any activity we consider suspicious.
8 CASH AS A METHOD OF PAYMENT
Under no circumstances whatsoever will LondonLink provide services or otherwise, buy and/or sell any Cryptoassets from you using cash as a method of payment.
9 AVAILABILITY OF SERVICES TO YOU
We reserve the right to cease (either temporarily or permanently) making Services available to you should you (1) at any point in time become not Verified (which can automatically occur in accordance with the Trading Terms, even if you were previously Verified); or (2) if you owe us any fiat or Cryptoasset for any length of time; or (3) we have reasons to believe that you are in breach of the Trading Terms or Other Policies.
If we temporarily cease to make Services available to you, you are still contractually bound by the Trading Terms until such time as it is terminated in accordance with clause 19.
We cannot be held responsible and accept no liability for losses resulting from delayed payments or any other acts or omissions of third party merchants and/or payment providers.
In the case of delayed payments of fiat or Cryptoassets out of our control, if possible, we will contact you as soon as practicable if we are made aware of any delays. We will also take reasonable steps to minimise the effects of the delay to you. However, in usual circumstances we are not likely to be made aware of the reason for a delay.
We cannot and will not under any circumstances refund any fiat or Cryptoassets to you once a trade has been completed. You understand refunds are not possible due to the 24/7 nature of the market conditions, mixing of fiat and Cryptoassets (and therefore lack an ability to identify) and potential volatility of swings which could lead to considerable, unrecoverable, losses for us.
Please see our Risk Disclaimer at the top of this document about the risks associated with you purchasing Bitcoin or other Cryptocurrencies. The Disclaimer is repeated and made available in various other prominent locations to you.
Any reference to returning or transferring fiat or Cryptoassets to/from us and/or to/from you in clause 3.5 shall not constitute a refund. Clause 3.5 refers to issues during a trade (i.e. before the trade is concluded) meaning a trade cannot be completed. And if a trade is not completed, it cannot be refunded or claimed by you that it has been refunded.
12 TAX AND VAT
It is your sole responsibility to determine and report any tax information from your use of the Services to the appropriate tax authorities.
If you wish to make a complaint against Us, you should inform Us via email immediately at firstname.lastname@example.org. In order to allow Us to investigate your complaint promptly and effectively you should provide the full details of the circumstances giving rise to your complaint.
We reserve the right to not commence investigations until sufficient details are provided. We will investigate the complaint promptly, fully and provide a written response to your complaint. Please note we are not covered by the Financial Services Compensation Scheme.
Each of the paragraphs of these Trading Terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.
If we do not insist that you do anything immediately as required to do under these Trading Terms, or if we delay in taking steps against you in respect of you breaching the Trading Terms or Other Policies, that will not mean that you do not have to do those things and it will not prevent Us taking steps against you at a later date. For example, if you underpay Us or we overpay you when we provide Services and we do not chase you for repayment initially, we can still require you to make the payment at a later date.
16 RIGHTS OF THIRD PARTIES
This contract is between you and Us. No other person or entity shall have any rights to enforce any of its terms subject to the Novation clause below. Neither you nor Us will need to get the agreement of any other person in order to end the contract or make any changes to these terms.
We may novate (transfer) our rights and obligations under the Trading Terms to another organisation. We will tell you in writing if this happens and we will ensure that the novation will not affect your rights under the contract. If you are unhappy with the novation you may contact Us to terminate the Trading Terms within 14 days of Us telling you about it subject to not being in the middle of a trade with Us (or the and in accordance with clause 19.
If you are unhappy with the novation and terminate the Trading Terms but later contact Us or the organisation receiving the benefit of the novation to access the Services as described in this agreement, you will, in accordance with clause 1.2 either become bound (1) by these Trading Terms; or (2) by any updated trading terms if you are provided with a copy before trading.
18 TERMINATING THE TRADING TERMS
Your rights to terminate the Trading Terms
You can terminate the Trading Terms at any time other than when you and we are engaged in a part of the trading process in clause 3 of the Trading Terms, or otherwise have any liability or owe any fiat or Cryptoasset to us. For the avoidance of doubt, you are not able to terminate the Trading Terms if there is an issue during the trading process referred to in clause 3.5, or otherwise.
To terminate the Trading Terms, please contact Us by email on email@example.com communicating your clear intention to terminate and cease using our Services. Your termination of the Trading Terms with us will be effective on receipt of an email from us confirming the Trading Terms can be terminated.
Please note that once you have terminated the Trading Terms (in accordance with the process and restrictions above) you will at a later date become bound by the Trading Terms (or an update of the Trading Terms if the case may be) if you do any of the things which constitute acceptance of these or the updated Trading Terms in accordance with clause 1.2.
Our rights to terminate the Trading Terms
We reserve the right to terminate the Trading Terms immediately if we believe you to be in breach of contract or if we believe that you may be, or try to, circumvent terms and conditions to our detriment. If you are in breach of a contractual duty owed to Us which causes us loss we have the right to claim against you for damages and take any other action deemed necessary.
We also reserve the right to terminate the Trading terms if we believe you are breaking the law, or are about to break the law, in any other way including in relation to clause 7.
Us terminating the Trading Terms in accordance with this clause does not mean you are not liable to Us in relation to any breach of contract, tort or any other liability concerned.
19 ANY STORAGE OF CRYPTOASSETS
LondonLink does not store any Cryptoassets on behalf of any customers.
20 LAW AND JURISDICTION
If you are a consumer, please note that these Trading Terms, their subject matter and their formation, are governed by English law and the courts of England and Wales. You and we both agree that the courts of England and Wales will have exclusive jurisdiction.
If you are a business, these Trading Terms, their subject matter and their formation (and any non-contractual disputes or claims) are governed by English law. You and we both agree to the exclusive jurisdiction of the courts of England and Wales.
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