Contract on onerous alienation of rights on cryptocurrency

The users who have accepted the User Agreement with the text permanently located at https://exmo.com/docs/agreement and the offer for concluding the Contract for the Provision of Services with the text permanently located at https://exmo.com/docs/offer, have also concluded this Contract on Onerous Alienation of Rights on Cryptocurrency as follows:

  1. Terms and definitions
    1. In the present Contract on Onerous Alienation of Rights on Cryptocurrency, the following terms have the meaning indicated below, unless otherwise stipulated:

      Term Definition
      ‘Contract’ The present Contract on Onerous Alienation of Rights on Cryptocurrency.
      ‘Tools’ Fiat money and Cryptocurrency.
      ‘Offer’ The offer for concluding the Contract for the Provision of Services permanently https://exmo.com/en/docs/offer.
      ‘Agreement’ The text of the User Agreement permanently located at: https://exmo.com/en/docs/agreement
      ‘Parties’ Those users who have concluded the present Agreement.
    2. The rest of the terms and definitions that can be found in the text of this Contract should be interpreted by the Parties according to the terms of the User Agreement and the Offer.
    3. The titles of different clauses (articles) of the Contract have been written with the only objective to make the text more comprehensive for the reader and do not have any literal legal effect.
  2. Conclusion and Subject of the Contract
    1. The Contract is concluded between the Users who have placed counter orders in the System according to the terms of the Agreement. Independently the Users place Orders that are at the same time Offers for concluding the Contract on certain terms. The fact of placing Orders by the Users means that they have accepted the terms of the Contract. At the same time the Users admit that the acceptance of the terms of the Contract takes place at the moment when the System matches the two counter orders. The System informs the Parties on the conclusion of the Contract.
    2. According to the Contract the User who has placed an Order for selling Cryptocurrency for certain remuneration remits Cryptocurrency to other User who has placed an Order for buying Cryptocurrency.
    3. The amount of Cryptocurrency remitted according to the Contract is determined by the System at the moment of matching the two Orders, always favouring the Order with a lesser amount of Cryptocurrency.
    4. The remuneration of the User who has placed an Order for selling Cryptocurrency represents the amount of the remitted Cryptocurrency multiplied by the Exchange Rate determined according to the terms of the User Agreement.
    5. In cases stipulated by the Offer the reward of the Service Provider can be deduced both from the remuneration and/or from the amount of Cryptocurrency which gets the User who has placed an Order for selling Cryptocurrency.
  3. Order of Interaction between the Parties
    1. The Parties agree that concluding the Contract and fulfilling the obligations under the Contract, they act via the Service Provider that renders services according to the terms of the Offer. At the same time it is the Parties that appear to have all the rights and obligations under the Contract.
    2. Before placing an Order a User has to replenish their Account for the amount of the Tools indicated in this Order.
    3. The obligations under the Contract are fulfilled by transferring corresponding amounts of assets indicated in the counter orders to Users’ personal Accounts. Money transfers are executed automatically by the System. At the same time the System is considered to be acting on the instructions of the Users.
    4. The Parties regard the obligations under the Contract as fulfilled when corresponding amounts of tools are written off from their Accounts.
  4. Responsibilities of the Parties and concluding provisions
    1. At the conclusion and execution of the Contract the Parties commit to comply with the legislation of the Russian Federation, the terms of the User Agreement, the Offer and Anti-money laundering/counter terrorist financing policy. The violation of this clause leads to invalidation of this Contract according to the terms of the Offer.
    2. The Parties will not bear responsibility for possible Site and/or System failures and crashes. If these failures make impossible to fulfill the obligations under the Contract, the Parties will be excluded from such responsibilities.
    3. In case of disputes the Parties have the right to appeal to the Service Provider in order to establish the identity of each other for the sake of dispute settlement. Accepting the terms of the Contract the Parties agree that the Service Provider may disclose their personal data for the sake of disputes settlement. The Parties acknowledge that the Service Provider does not represent another Party of the Contract and therefore does not bear responsibility for actions and/or omissions of the Parties related to the Contract.
    4. All issues concerning the execution of the Contract should be viewed within the legal terms of the Russian Federation. All disputes that may arise from the execution of the Contract will be subject to resolution in court in location where the defendant resides.
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