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© 2018 by NCX AU Pty Ltd

ABN:  21 620 754 716   I   ACN: 620 754 716

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TERMS OF USE OF TRADING PLATFORM AND NCX SERVICES

Your acceptance of these terms and conditions (Terms) will form a binding legal agreement between the customer (you, your) and NCX AU Pty Ltd (ACN 620 754 716) trading as NCX, National Currency Exchange, National Crypto Exchange and National Crypto Currency Exchange (NCX or we, us, our) and its related entities.

 

1.     General

 

1.1     The trading platform provided by NCX on the website https://trade.ncx.com.au/ (Site), any other website operated by NCX            and on any related mobile applications (together, the Trading Platform) allows you to buy and sell bitcoin (BTC), ethereum             (ETH) and other digital currencies, deposit, withdraw and hold fiat and digital currencies or obtain information about digital            currencies (the Services).

 

1.2     By using or accessing the Site, creating an account or using the Trading Platform, you agree that you have read and agree              to these Terms.

 

1.3     These Terms are to be read in conjunction with any other terms and conditions which govern the Services and your use of                the Trading Platform, which are available on NCX’s website, including the Terms of Use on the Site                                                       at https://www.ncx.com.au/website-terms-of-use.

 

1.4     NCX may at any time amend the Terms by publishing the amended Terms on its website. By continuing to access or use any           material or Services on the Site after any amendment of the Terms, you agree to be bound by the most current version of               these Terms of Use, as amended.

 

 

2.     Your Account

 

2.1     By agreeing to these Terms, you represent that you:

 

(a) are at least 18 years of age;

 

(b)  hold an Australian bank account;

 

(c) have full capacity and authority to enter into and perform these Terms;

 

(d) have completed the required information to establish an account and use the Trading Platform accurately, including providing true, accurate and complete information regarding your identity and contact information and will ensure that it remains current at all times; and

 

(e)           satisfy NCX’s account opening and customer verification procedures, including ongoing and enhanced customer due diligence procedures (where relevant).

 

2.2     You authorise NCX to make enquiries to verify your identity and contact information either directly or through third parties              at any time.

 

2.3     NCX may, at its absolute discretion, refuse to create or maintain an account for you for Trading Platform.

 

 

3.     Your use of the Trading Platform

 

3.1     In order to buy digital currencies on the Trading Platform, you must:

 

(a) transfer a sufficient amount in Australian dollars to our nominated Australian bank account(s) by direct bank transfer and ensure that there are sufficient funds in your account in order to complete each transaction; and

 

(b) keep a copy of all bank deposit receipts and provide it to us on request.

 

3.2     In order to sell digital currencies, you must transfer a sufficient amount of digital currency to our nominated wallet address             to ensure that there is a sufficient amount in your account in order to complete each transaction.

 

3.3     NCX reserves the right to delay, suspend or cancel a trade or transaction if we are prevented from completing a transaction           due to:

 

(a) our reliance on a third-party supplier;

 

(b where we have reasonable belief that the trade is in breach of these Terms; 

 

(c) if the trade does not comply with trade controls or exceeds maximum parameters which may be implemented by NCX from time to time;

 

(d) in the event of extreme fluctuations in the prices or trading in digital currencies;

 

(e) where there are technical difficulties or other events of force majeure;

 

(f) where we are subject to a law enforcement action; or

 

(g) otherwise at NCX’s absolute discretion.

 

3.4     In order to withdraw digital currencies from your account, you must complete a withdrawal request.  Upon receipt of a valid           withdrawal request for an amount credited to your account we will transfer the bitcoin, ethereum or other digital currency to           the wallet address that you provide in the withdrawal request form. It is your responsibility to provide the correct wallet                    address. 

 

3.5     In order to withdraw Australian dollars from your account, you must complete a withdrawal request.  Upon receipt of a valid           withdrawal request for an amount credited to your account we will transfer the Australian dollar amount to the bank account           that you provide in the withdrawal request form. It is your responsibility to provide the correct bank account details.

 

3.6     NCX may impose withdrawal limits or other trade controls from time to time.

 

3.7     All information, graphics, data, prices, charts, video, audio and any other content displayed on or available on the Trading             Platform, and all the underlying source code and software, is owned or used under license by NCX, except where expressly           stated in these Terms or elsewhere on the Site.

 

3.8     The Site may contain links to other websites.  NCX does not endorse, sponsor, approve or accept any responsibility or                     liability for any such third party content or any content available on any linked website.

 

3.9     We may use cookies to identify your computer on our server and so we can track your use on the Trading Platform. In some           instances, cookies may collect and store personal information about you. Such personal information will only be used by us           in accordance with our Privacy Policy.

 

3.10   You acknowledge and agree that:

 

(a) the transmission of information over the internet (including via the Trading Platform) may not be secure or free of errors;

 

(b) emails to and from us may undergo email filtering and virus scanning, including by third party contractors which may not be effective in removing viruses or other potentially harmful code;

 

(c) you use the Trading Platform and Services (and obtain and transmit data to it) at your own risk, that it is provided on an ‘as is’ basis and that NCX does not make any representations or warranties as to the security, availability of our Trading Platform and Services or that your access or use will be uninterrupted, timely or secure;

 

(d) you are accountable for maintaining and preserving the confidentiality of your account information, your personal information you provide to NCX, the strength level of your password, whether you implement a two-factor authentication, protecting your digital currency by using a digital wallet and any other activities you undertake when using our Services; and

 

(e) trading or holding digital currencies is high risk and losses can be substantial and that you have considered whether trading or holding digital currencies is suitable for you in light of your financial situation and risk appetite.

3.11   In using the Trading Platform, you must not:

(a) engage in financing terrorists or terrorist organisations, money laundering, illegal gambling, distributing or funding drugs and drug paraphernalia or malicious hacking;

(b) reverse engineer, disassemble or otherwise attempt to construct, copy or replicate the Trading Platform’s source code, formulas or processes;

 

(c) interfere with the security or safe use of the Trading Platform by others, including by way of distributing viruses, corrupted files or other similar software or programs that may damage the operation of any computer hardware or software or which are otherwise directed at the Site or its users; or

 

(d) do anything else which may interfere with or negatively affect the operation of NCX’s Trading Platform, Services or other users of the Trading Platform.

3.12   Advanced Protocols. Unless specifically announced on the NCX web Site or other official public statement of NCX, we do              not support metacoins, coloured coins, side chains, or other derivative, enhanced, or forked protocols, tokens, or coins                  which supplement or interact with a Digital Currency we support (collectively, "Advanced Protocols"). You should not use                your NCX account to attempt to receive, request, send, store, or engage in any other type of transaction involving an                      Advanced Protocol. Our platform is not configured to detect and/or secure Advanced Protocol transactions. You                              acknowledge and agree that we have no responsibility whatsoever in respect of an unsupported Advanced Protocol.

3.13   Operation of Digital Currency Protocols. We do not own or control the underlying software protocols which govern the                  operation of Digital Currencies supported on our platform: generally, the underlying protocols are open source and                        anyone can use, copy, modify, and distribute them. We assume no responsibility for the operation of the underlying                        protocols and we are not able to guarantee their functionality, security, or availability.

          You acknowledge and accept the risk that underlying software protocols relating to any Digital Currency you store in your              Digital Currency Wallet may change.

          In particular, the underlying protocols are likely to be subject to sudden changes in operating rules ("forks"), and such forks            may materially affect the value, function, and/or the name of the Digital Currency you store in your Digital Currency Wallet.            Where possible, we may provide you with notices or alerts on forks (you are responsible for keeping your email address                  and telephone number up to date in your Account Profile in order to receive any notices or alerts that we may send you                  including notices or alerts of actual or suspected Security Breach). You must read such notices or alerts received from us in              order that you may consider how to deal with upcoming forks. However, it is your responsibility to make yourself aware of,              and consider how to deal with, upcoming forks. In the event of a fork, there is a risk that we may need to temporarily                        suspend operations in relation to that fork without providing advance notice to you. We may, in our reasonable discretion,              decline to support either or both branches of a fork.

          You acknowledge the risks presented by forks and you accept that we have no responsibility to assist you to move or sell an            unsupported branch of a forked protocol.

 

 

4.     Our Fees

 

4.1     You may buy and sell digital currencies on the Trading Platform. The Services may be subject to fees or exchange rates as                stipulated on the Trading Platform, available at the time of submitting your transaction or withdrawal request.

 

4.2     In exchange for the provision of the Services, you agree to pay to NCX:

 

(a) the transaction fees set out at https://www.ncx.com.au/fees (or as otherwise advised by NCX from time to time) which are applicable to all transactions; and

 

(b) the withdrawal fees set out at https://www.ncx.com.au/fees (or as otherwise advised by NCX from time to time) which will be payable upon withdrawal of your funds (fiat or digital currency) which may be a fixed percentage of the value of the withdrawal or a flat fee, which will be deducted at the time of withdrawal.

 

4.3     Upon our completing the processing of a withdrawal request, we will provide you with a transfer receipt which specifies the           amount of fiat currency withdrawn to your bank account, the amount of any transaction or withdrawal fees deducted by us             and the total amount you requested be withdrawn.

 

 

5.     Warranties

 

5.1     You warrant to NCX that:

 

(a) you are a bona fide user of the Trading Platform and NCX’s Services;

 

(b) you are not engaging in financing terrorists or terrorist organisations, money laundering, illegal gambling, distributing or funding drugs and drug paraphernalia or malicious hacking;

 

(c) all information that you provide to NCX, whether directly or through the Trading Platform, is true, accurate and complete;

 

(d) you will not allow any unauthorised access to the Trading Platform and you will notify NCX upon becoming aware of any unauthorised access or use; and

 

(e) you will comply with any applicable laws, standards or regulations.

 

 

6.     Termination

 

6.1     You may cancel your NCX account at any time, following the settlement of any pending transactions or trades and payment           of any outstanding amounts owed to us. If you cancel your account, NCX is free (but is not required) to delete your account           and related data and Trading Platform content from our systems.

 

6.2     NCX may cancel, suspend, limit, restrict, deactivate or terminate access to the Trading Platform and the Services and any                pending transactions, if:

 

(a) you breach any term or condition of these Terms or any other terms and conditions which govern the Services and your use of the Trading Platform;

 

(b) there is a technical or operational difficulty;

 

(c) your use of the Trading Platform is subject to any pending investigation, litigation or government proceeding;

 

(d) we receive a request from a law enforcement or government agency to do so;

 

(e) you fail to pay or fraudulently pay for any transactions or trades; or

 

(f) NCX otherwise determines in its absolute discretion.

 

 

7.     Liability

 

7.1     You acknowledge and agree that NCX is not responsible or liable for any digital currencies you may purchase or hold via                the Trading Platform or once they are transferred from our Trading Platform to another site, device, platform or user.

 

7.2     You acknowledge and agree that NCX’s ability to provide any Services via the Trading Platform is subject to:

 

(a) you complying with your obligations under these Terms or any other terms and conditions which govern the Services and your use of the Trading Platform; and

 

(b) your third party hardware and software (including preferred browser) meeting the Trading Platform’s minimum operating requirements.

 

7.3      NCX will not be liable for any virus, malware, trojan or similar malicious software program or code infecting your software or           hardware as a result of your use of the Trading Platform or your interactions with third parties on the Trading Platform.

 

7.4     To the maximum extent permitted by law:

 

(a) NCX excludes all liability of any kind, including in respect of any loss of data, interruption of business or any indirect or consequential loss, loss of profits, loss of opportunity or incidental damages, in relation to the use of the Trading Platform and the Services; and

 

(b) NCX excludes all warranties and representations (express and implied) which may arise out of or in connection with the use of the Trading Platform or Services or the use of or reliance on information relating to the Trading Platform or Services.

 

7.5     The Trading Platform does not contain all information that you will require in order to evaluate whether or not you should                invest, use and trade in digital currency. You should independently satisfy yourself as to the accuracy of all information                     provided through the Trading Platform or Services.

 

7.6      To the extent any legislation prohibits the exclusion of any implied warranties, you agree that NCX’s liability in respect of                 any claim is limited (at NCX’s option) to:

 

(a) in the case of the Services:

 

(1) the supply of the Services again; or

 

(2) the payment of the costs of having the Services supplied again; or

 

(b) in the case of any goods (including any downloadable apps):

 

(1) the resupply of the goods; or

 

(2) the payment of the costs of having the goods resupplied.

 

 

8.     Financial disclaimer

 

8.1     NCX does not provide financial advice in any form. No content, services, or products available on the Trading Platform or               via any form of communication with NCX or Services provided may be taken as financial advice or a financial                                      recommendation. Please speak with your financial advisor for all matters related to buying and selling digital currencies.                  We do not recommend anything available on the Trading Platform or via the Services as an investment. It is possible that               you could lose some or all the money you spend on any digital currencies you might buy or sell on the Trading Platform or             via the Services due to price and/or value fluctuations.

 

 

9.     Indemnity

 

9.1     You agree to indemnify NCX, its officers and employees or agents from and against any loss, claim, liability, cost or expense           incurred by NCX in respect of a third party claim arising from or in any way related to:

 

9.2     your breach of these Terms or any other terms and conditions which govern the Services and your use of the Trading                       Platform;

 

9.3     your infringement or alleged infringement of a third party’s intellectual property rights;

 

9.4     any information that you provide to us for the purpose of the Services or the Trading Platform;

 

9.5     your use of the Services or the Trading Platform; or

 

9.6     your violation of applicable laws, rules or regulations.

 

 

10.     Intellectual Property Rights

 

               You acknowledge that:

 

(a) we, or our related bodies corporate (as defined in the Corporations Act 2001 (Cth)), own or are licensed to use all Intellectual Property Rights in the Trading Platform (including, but not limited to, any images, photographs or text which appear on the Trading Platform).  You agree that you will not make any representations to the contrary, and that you will not use or copy the Trading Platform in any manner that is inconsistent with the rights of the owner or licensee of such Intellectual Property Rights. For the purposes of these Terms, Intellectual Property Rights shall mean all current and future registered and unregistered rights in respect of copyright, circuit layouts, designs, trade marks, know-how, confidential information, patents, inventions and discoveries and all other intellectual property as defined in article 2 of the convention establishing the World Intellectual Property Organisation 1967; and

 

(b) any trade marks or logos which appear on the Trading Platform are owned by or licensed to NCX or its related bodies corporate, and you must not do anything to prejudice the rights of the trade mark owner or licensee to such trade marks or logos.

 

 

11.    Miscellaneous

 

11.1     You acknowledge that it is your responsibility to determine whether and to what extent, any taxes apply to any transactions              or trades you conduct through the Trading Platform.

 

11.2     You acknowledge that it is your responsibility to determine whether and to what extent, any laws in your jurisdiction of                     residence or any other laws applicable to you apply to any transactions or trades you conduct through the Trading                            Platform.

 

11.3     You must not assign, transfer or novate any of your rights or obligations under or relating to these Terms.

 

11.4      NCX may assign, transfer or novate any of its benefits, rights or obligations under or relating to these Terms with notice in              writing to you.

 

11.5     If a provision of these Terms is illegal, invalid, unenforceable or void in a jurisdiction it is severed for that jurisdiction and                 the remainder of these Terms have full force and effect and the validity or enforceability of that provision in any other                      jurisdiction is not affected.

 

11.6     Each party must promptly at its own cost do all things necessary or desirable to give full effect to these Terms.

 

11.7     If NCX is obliged under the GST Law (as defined in A New Tax System (Goods and Services Tax) Act 1999 (Cth) to pay an                 amount of GST for a taxable supply made by NCX to you under these Terms or the Services, you must pay NCX (in                           addition to any other fees for the Services) an amount equal to the GST payable on the supply by NCX.

 

11.8     These Terms are governed by and construed in accordance with the laws of the State of Western Australia and the                          Commonwealth of Australia, and each party irrevocably submits to the non-exclusive jurisdiction of the courts of Western               Australia and the Commonwealth of Australia.

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