General conditions for the purchase of DEFI BALANCE (DBA)
General conditions for the purchase of DEFI BALANCE (DBA)
Last updated: 30 September 2021
Art. 1. Introduction. Interpretation.
These General Terms and Conditions govern the relationship between the company CFX Quantum Ltd (the “Company”) -25 Hill Street, Mayfair London, W1J 5LW, United Kingdom Company Number: 12727786 – and any person who has correctly completed the application and registration process for the purchase of DEFI BALANCE – DBA and any related products and services from CFX Quantum Ltd through the website https://cfxquantum.com or by any other method designated by the Company (“Customer”) and carried out as specified below.
For the purposes of the Terms and Conditions, please note that CFX Quantum Ltd is a company operating in the field of Fintech, which offers the DEFI BALANCE System.
The Company has developed a system called “DEFI BALANCE” – abbreviation “DBA” – through which you can take advantage of the benefits of the DEFI BALANCE system. – through which the advantages and new opportunities of the new digital economy can be exploited. This system offers the possibility of obtaining potential appreciations in the value of a basket of DEFI cryptocurrencies that are not related to CFX Quantum or any of its affiliated companies or subsidiaries, thus reducing risks.
The General Conditions are an integral and substantial part of the Form through which CFX Quantum Ltd and the Client complete the purchase of DEFI BALANCE.
These Terms and Conditions may be amended/updated from time to time by CFX Quantum Ltd., who will communicate such changes through the normal communication channels found on the website.
The conditions under which the Company acts are hereby established through this document, which also includes and incorporates the crypto-asset information questionnaire, and any other annexes necessary for the purchase of “ZEROONE”.
Art.2. Pre-contractual information.
Art.3. Object of the contract.
The object of this Contract is the transfer to the customer, who accepts and purchases, of the “DEFI BALANCE” system, assuming all responsibilities and related risks, especially those arising from any damages or losses.
By purchasing “DEFI BALANCE”, as there are no qualifying elements for the definition of an investment of a financial nature and, therefore, not being an investment, currency, security, commodity or any type of financial instrument, the customer is aware that they are only and exclusively purchasing tokens in their Wallet.
Please note that DEFI BALANCE is connected to the Ethereum Blockchain without this Blockchain being under the direct or indirect control of CFX Quantum Ltd.
By accepting these terms and conditions, the Client declares that he has read and understood that:
(a) AVAILABILITY: DEFI BALANCE (ticker DBA) is not listed with third party Exchanges and can only be purchased at Client’s discretion for those who already have a CFX Wallet account https://wallet.cfxquantum.com/
The MINIMUM transaction for the first time is an equivalent of €5000.00, subsequent transactions can be of any amount.
c) DURATION/PENALTIES: DEFI BALANCE can be terminated at any time by request via email or special procedures that will be communicated to the user.
Please note that in the first 360 days after the subscription date there will be a FINE: in the first 180 days from the date of deposit 10%, from 181 to 210 days 8%, from 211 to 240 days 7%, from 241 to 270 days 6%, from 271 to 300 days 5%, from 301 to 330 days 4%, from 331 to 360 days 2%.
The penalty will be deducted from the total value of discontinued DBAs.
The penalty applies to each individual DBA subscription; the period is calculated for each individual deposit.
d) VALUATION: The value of DEFI BALANCE does not depend on supply and demand, as the token is not traded on the CFX Wallet. Instead, the value is defined with special software that accounts for the total assets and values them daily. The access and disposal of DEFI BALANCE, is carried out at the value published on the CFX Wallet corresponding to the previous day’s valuation.
The Client accepts and acknowledges that “DEFI BALANCE” cannot be qualified as a financial product and its purchase is in no way comparable to investment activities of a financial nature, therefore, the Client is aware that he/she will not enjoy the protections and guarantees provided for the latter and that he/she will not purchase DEFI BALANCE for speculative purposes.
Art.4. Stipulation of the Agreement.
This agreement is considered concluded when the user accepts these terms and conditions, and proceeds to pay the relevant DEFI BALANCE fee.
The Client is aware that once the purchase of DEFI BALANCE has been confirmed, CFX QUANTUM Ltd can only start the procedure for transferring tokens to the Wallet if the client has an account in the CFX Wallet and has successfully completed the KYC and the risk questionnaire. Please note that the loss of the CFX Wallet password or secret phrase will result in the inability to access your Wallet, as CFX Quantum does not hold the passwords.
The Client consciously and expressly accepts that, once the purchase has been confirmed, he/she will no longer be able to cancel the transaction, also expressly accepting that all transfers are final with no possibility of refund. By the way, Customers can still sell DEFI BALANCE at any time: after 180 from the subscription without penalties or previously with the penalties mentioned in Art 3c).
Art.5. Liability and Limitation of Liability.
CFX Quantum Ltd assures that the DEFI BALANCE system is legitimate.
The Client acknowledges that the transactions carried out, and the transactions made available by CFX Quantum Ltd involve various risks, including the risk of interruptions, disturbances, suspensions, failures, malfunctions, or failure of the system, telephone, or electronic systems at CFX Quantum Ltd or third parties connected to the Company’s system.
CFX Quantum Ltd, in any event, shall not be liable for any failure to execute orders due to inability to operate due to causes beyond its control or, in any event, due to delays caused by malfunctions of the portals, the Exchanges, failure or irregular transmission of information or causes beyond its control, including, without limitation, delays or failures in the computer system that powers the Service or other problems due to interruptions, suspensions, failures, malfunctions or failure of the telephone or electronic systems, or arising from events of force majeure.
Furthermore, CFX Quantum Ltd accepts no liability for any loss or damage that may arise from crypto-asset transactions carried out by the Client, and no claims for recourse or damages are allowed.
CFX Quantum Ltd is also not liable for any harmful consequences that may result from the misuse or abuse of the data line by unauthorised third parties.
CFX Quantum Ltd assumes no responsibility for the correctness, completeness and timeliness of the data, in particular the value, crypto-asset analysis and other information relating to cryptocurrency transactions made available by third parties.
Furthermore, CFX Quantum Ltd shall not be liable for any damages, losses and costs incurred by the user as a result of non-performance of the contract for reasons not attributable to the user.
CFX Quantum Ltd also accepts no liability for any fraudulent or illegal use by third parties of ZEROONE’s means of payment if it can demonstrate that it has taken all possible precautions based on current best practice and due diligence.
Furthermore, the Customer is solely responsible for the accuracy of the information contained in his subscription.
Furthermore, the Customer expressly declares that the purchase of DEFI BALANCE is not for the purpose of money laundering and terrorist financing and expressly exempts CFX Quantum Ltd from any criminal activity on its part.
The Client, by accepting this Agreement, declares that he has received and read all information about DEFI BALANCE, that he is aware of his own risks arising from crypto-assets, in particular those arising from any abrupt changes in the valuations and trading of tokens or cryptocurrencies.
The Customer, by accepting this Agreement, declares that he/she has proceeded to purchase the DEFI BALANCE only after having acquired adequate knowledge of the product, its operation and the risks now involved. The Client acknowledges and agrees that CFX Quantum Ltd may deviate from the technical procedures set out in this Agreement, based on its professional judgement and prior notice provided on the Site.
The Customer is aware that DEFI BALANCE is not a financial product and that its purchase is in no way comparable to investment activities of a financial nature; therefore, he/she will not be able to enjoy the protections and guarantees provided for the latter.
Art. 6. Customer declarations on transactions and risks.
The Client declares that he has received and completed the information questionnaire on crypto-assets, that he is informed of his rights under the data protection legislation, and that he is aware of the risks associated with crypto-assets, in particular those arising from any sudden changes in prices.
The Client undertakes to use the services under this agreement with due diligence, acquiring prior knowledge of their characteristics and how to use them correctly, expressly declaring that the acceptance of the services provided by CFX Quantum Ltd represents a precise and free will, expressly stating that he/she has not been subjected to any pressure or solicitation to request their execution and expressly indemnifying CFX Quantum Ltd for the information contained in the website or regarding the information on the data relating to the performance and rules of the crypto-asset, which are not understood by the same.
The Customer is aware that the website contains only general information and should not be interpreted as a recommendation to participate in the purchase or use of DEFI BALANCE, as all information contained therein, with the exception of historical and factual information, represents merely forward-looking statements.
CFX Quantum Ltd accepts no responsibility or liability in respect of the above statements as they are based on past estimates and current projections, which involve certain risks and uncertainties that could cause actual results to differ materially from past results or forward-looking statements.
The Customer expressly acknowledges and agrees that the risks and uncertainties referred to above include issues relating to the rapid evolution of technology and the evolution of standards in the industries in which the Company operates; the ability to continue to operate, to profitably exploit new business, to license and to enter into new agreements.
The Customer acknowledges that any changes in the organisation and regulation of the Encrypted Asset may result in operational limitations in this Agreement.
The Client represents and warrants that each transaction and obligation arising out of this agreement shall remain binding and enforceable in accordance with the terms hereof even if, in connection with his status, he has entered into it in breach of any law, regulation, order, responsibility, code of professional conduct or agreement by which he is bound.
The Customer expressly acknowledges and accepts the commissions and fees that will be charged to it and also accepts that it will be charged, where applicable. Any tax and/or contribution charges that are (or will be in the future) introduced on the basis of the transactions, financial situation and accounting records relating to the encrypted assets covered by the contract.
Article 7. Amendments to the Agreement.
The Customer acknowledges that any change in the applicable legislation on crypto assets may also affect the provisions of this Agreement and that if this Agreement is in whole or in part inconsistent with the applicable legislation, the applicable legislation shall take precedence and prevail over any conflicting provisions.
CFX Quantum Ltd may, for legitimate reasons, unilaterally make changes to this agreement.
Such changes shall be communicated to the Client electronically, on CFX Quantum Ltd’s website in the publicly available, non-confidential part.
The communication shall be deemed to have been received alternatively
- when the Customer connects to the website of CFX Quantum Ltd, logging in regularly to the restricted area;
- in any case, after 30 days from the publication on the website of CFX Quantum Ltd.
Within 30 days of receipt of the notice, the Customer shall be entitled to withdraw from the Contract.
Art.8. Legal termination of the contract.
All obligations previously assumed by the customer, as well as the guarantee of successful payment by the customer, are essential and relevant, so that failure by the customer to comply with any one of them will result in immediate and lawful termination of the contract.
Art.9. Consent to the processing of personal data.
CFX Quantum Ltd protect the privacy of its customers and ensure that data processing complies with the provisions of national and supranational privacy legislation, as well as European Regulation 2016/679 (GDPR).
Users may exercise their rights under the privacy legislation by sending an e-mail to [email protected]
Art.10. Applicable law. Jurisdiction.
This agreement shall be governed by and construed in accordance with the law of the jurisdiction in which CFX Quantum Ltd has its registered office.
The parties, therefore, expressly agree that any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation shall be subject to the exclusive jurisdiction of the court in whose jurisdiction CFX Quantum Ltd’s registered office is located, except, if necessary, in cases provided for under consumer law.
Art.11. Final clauses.
The parties declare that they have read these general terms and conditions.
The obligations and undertakings arising from these general terms and conditions (which by their nature have effect even after expiry, termination or withdrawal from the contract) shall remain valid and effective even after that date until their fulfilment.
It should also be noted that the customer who has expressed, in point-and-click mode, his or her consent to these conditions, declares that he or she has fully understood, acknowledges and expressly approves the following the text contained in articles 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11; their obligations, possible burdens and prejudices; declares that he/she agrees with the content of the aforementioned text as drafted by CFX Quantum Ltd and accepts it unconditionally, so that he/she consciously accepts and approves it as a whole, together with the information questionnaire on crypto assets, the processing of their personal data and the provisions governing the procedures for registering, accessing, browsing and using the website of CFX Quantum Ltd.