3. Services and Fees
XREX provides the following Services on the Site and XREX Pay:
Deposit, withdrawal, custody, conversion and transfer of DPTs;
Deposits and withdrawals of Fiat Money, transfer of Fiat Money, B2B payment settlements and Paying Service;
On and off-ramp conversions between Fiat Money and DPTs; and
Other products, features and services operated by XREX that are incidental to the above.
Compliance with Law. You represent and warrant to XREX at all times that you have informed yourself of all applicable legal and regulatory requirements, rules, prohibitions and restrictions in respect of your use of the Services, and you would fully comply with all such requirements, rules, prohibitions and restrictions, including any foreign exchange controls or restrictions or tax consequences applicable to your use of the Services.
Availability of Services. XREX may, in accordance with Paragraph 11.4, modify, suspend or discontinue, temporarily or permanently, all or any portion of any Services. You acknowledge and accept that (1) if and when Services resume, DPT valuations and conversion rates may differ significantly from the valuations and rates prior to the suspension or discontinuation of the Services and (2) XREX will not be liable for any losses suffered by you resulting from any modification of any Services or from any suspension, discontinuation of the Services, or termination of your access to all or a portion of any Services or for any other reason. XREX reserves the right to correct, reverse, or cancel any of your Service requests or attempt to do so where we have discovered an error, whether such error was by the Services, by you, or by a third party. You hereby authorise us to make or attempt any such correction, reversal or cancellation described. XREX provides no warranty or guarantees that any such attempt will be successful and bears no responsibility or liability for any such error or correction attempt.
No Broker or Fiduciary Relationship. XREX is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in providing the Services nor in connection with transactions or other decisions or activities effected by you. As such, no information provided to you by XREX is intended or should be considered as advice. You are advised to consult your professional adviser. Please refer to Paragraph 5 (Risk Warning and Disclosures) when choosing whether to use the Services.
Transactions Final and Irrevocable. Due to the nature and characteristics of our Services, you understand and agree that all transactions are final and irrevocable upon execution, subject to our right as set out in Paragraph 3.3 above. You shall not have the right to reverse or cancel any transaction.
Cancellation of Transactions. XREX may, in its sole and absolute discretion without prior notice to you, whether for a specified period of time or indefinitely, reverse, cancel, modify and/or disregard any transaction under any circumstance and for whatever reason or no reason whatsoever.
Deposit, withdrawal and transfer of DPTs
You may deposit any supported DPTs into your XREX E-Wallet from another digital wallet or trading platform or withdraw or transfer any supported DPTs in your XREX E-Wallet to another digital wallet or trading platform. You may also transfer any supported DPTs in your XREX E-Wallet to another XREX user via Bitcheck, or receive Funds from third parties via Paylynk.
You are solely responsible for ensuring the recipient wallet address is correct prior to submitting any such withdrawal or transfer request.
All instructions for withdrawals and transfers from your XREX E-Wallet are irrevocable once sent and XREX shall not be responsible for verifying recipient wallet addresses for such withdrawals or transfers. XREX will not be able to cancel a withdrawal or transfer once it has been effected.
XREX shall not be liable for any Losses resulting from such use of your XREX E-Wallet.
Custody of DPTs
You may store your DPTs in your XREX E-Wallet.
XREX will safeguard your DPTs in accordance with the safeguarding arrangements in Paragraph 6.
You may track and manage your balances in your XREX E-Wallet by logging into your XREX Account.
Conversion of DPTs
You may convert your DPTs into Fiat Money (off-ramp conversion) or your Fiat Money into DPTs (on-ramp conversion).
You will have to choose the type and quantity of supported DPTs to purchase and/or sell (as applicable) and XREX will present you with the applicable conversion rate, and any associated fees before you proceed with the conversion.
All conversions are final and irrevocable and XREX shall not be responsible for verifying recipient account details for such transactions. No reconversions shall be made by XREX.
If requested by you, XREX will provide a quote setting out the current rate and spread for any conversion required. Each quote provided by XREX shall be valid for the period indicated by XREX with the quotation. By proceeding with an instruction, you are deemed to have accepted the applicable rate and spread.
Prior to the completion of any conversion, where such completion will or is likely to lead to an adverse effect on XREX (determined in XREX’s sole and absolute discretion), XREX shall be entitled to cancel or refuse to complete the Service without liability to you.
XREX may suspend provision of any conversion services for any duration by providing a written notification 24 hours in advance on its Site, XREX Pay and/or electronic mail transmission, if, in XREX’s opinion, the following categories of changes or occurrences, or any combination thereof, is effecting/are likely to effect a material change in the applicable exchange rates for a supported DPT:
political (including changes by reason of military action);
financial (including stock market conditions, currency exchange conditions in any relevant financial markets and interest rates);
economic conditions in the region or internationally (including changes or developments in stock, bond, money, and interest rate markers); or
any Force Majeure Event.
You are solely responsible for ensuring your bank account and XREX Account details are correct prior to submitting any instructions for any conversion transactions.
XREX shall not be liable for any Losses resulting from such use of the Services.
You acknowledge and agree that:
you use and rely on the Services at your own risk, and XREX excludes all liability associated with any Loss suffered or incurred by you as a result of the change in value of any supported DPTs or Fiat Money.
XREX will not be liable for any Losses arising out of or relating to: (a) any inaccuracy, defect or omission of the DPT’s price data, or any error, delay or interruption in the transmission of such data; (b) viruses or other malicious software obtained by accessing XREX’s websites, software, systems operated by XREX or on XREX’s behalf or any of the XREX’s Services (c) glitches, bugs, errors, or inaccuracies of any kind in XREX’s websites, software, systems operated by XREX or on XREX’s behalf or any of the XREX’s Services; or (d) a suspension or other action taken by XREX with respect to the XREX Account; or
XREX reserves the right to refuse to process, or to cancel, correct, reverse, claw back or recover any transaction or transfers in our sole discretion, even after funds have been debited from your XREX Account, if required by the Applicable Laws; or if XREX suspects that the transaction, including the relevant exchange rate or price data, may be erroneous, or involve money laundering, terrorist financing, fraud, or any other type of financial crime. In such instances, XREX will reverse, recover or claw back the transaction, under no obligation to reinstate a purchase or sale order at the same price or on the same terms as the canceled transaction.
In the event that your XREX E-Wallet or Safeguarding Account does not have sufficient Funds to execute the conversion, you will not be able to proceed with the conversion.
XREX shall be entitled, in its sole and absolute discretion, to determine the types of DPTs and the specific blockchain thereof that will be made available for trading, transferring, and storing on the Services. XREX will make reasonable efforts to notify you in writing of any changes to the supported DPTs. If you do not remove your unsupported DPTs or other assets to an external wallet address or account prior to the cessation of support on the Services, you may lose all or part of your DPTs or other assets. In such cases, XREX will not be liable for any losses, liabilities, costs, or expenses related to its decision to remove support for any DPT or asset.
Deposit and withdrawal of Fiat Money
You may deposit any supported Fiat Money into your XREX Account from your bank account for the purposes of using the Services or withdraw any supported Fiat Money in your XREX Account to your bank account.
You are solely responsible for ensuring your bank account details are correct prior to submitting any such withdrawal request.
All instructions for withdrawals from your XREX Account are irrevocable once sent and XREX shall not be responsible for verifying recipient account details for such withdrawals. XREX will not be able to cancel a withdrawal once it has been effected.
XREX shall not be liable for any Losses resulting from such use of your XREX Account.
Transfer of Fiat Money
You may transfer any supported Fiat Money in your XREX Account to:
a third party via the Site or XREX Pay; or
XREX user via BitCheck, the Site or XREX Pay.
You are solely responsible for ensuring the recipient account details is correct prior to submitting any such transfer request.
All instructions for transfers from your XREX Account are irrevocable once sent and XREX shall not be responsible for verifying recipient account details for such transfers. XREX will not be able to cancel a transfer once it has been effected.
XREX shall not be liable for any Losses resulting from such use of your XREX Account.
B2B Payment Settlements
You may effect:
B2B payment settlements with another user by utilising BitCheck; or
B2B payment settlements with a third party by raising a payment request to process payment in Fiat Money to that third party.
Please refer to the BitCheck Service Agreement for the terms and conditions on the use of BitCheck.
Paylynk Service
You may effect payment settlements from a third party by raising a payment request to receive payment from a third party in either Fiat Money or DPTs. For the avoidance of doubt, the Paylynk Service does not support any transfer of Funds by you to a third party. Any transfer of Fiat Money to a third party will have to be effected via the B2B payment settlements in Paragraph 3.12 above.
In order to initiate a Paylynk Transaction:
you must hold a XREX Account and be a customer of XREX;
you must provide up-to-date, complete and accurate transactional details on the XREX platform in relation to the Payor, as your customer, and the Paylynk Transaction;
you must upload the supporting invoices for the Paylynk Transaction on the XREX platform to the satisfaction of XREX;
you must create a customer invitation link (“Customer Invitation Link”) and send the Customer Invitation Link to the Payor via email; and
the Payor will be required to input its identification information and details of its bank account and/or Payor Dynamic Wallet via the Customer Invitation Link, review the terms and conditions, approve the Paylynk Transaction and authorise the auto-debit function in respect of the Payor Dynamic Wallet.
In the event that XREX fails to successfully whitelist and approve the Payor Dynamic Wallet or the Payor’s bank account for any reason whatsoever, the Payor will not be able to pay you in DPTs or in Fiat Money respectively. XREX will inform you in writing of the rejection of the Payor Dynamic Wallet or the Payor’s bank account, as the case may be.
If you choose to receive the payment from the Payor in Fiat Money, any DPTs that have been paid by the Payor based on the exchange rate as at the date of payment of pursuant to the Paylynk Transaction shall be automatically converted to Fiat Money at the prevailing exchange rate as at the date of payment of DPTs by the Payor, and you hereby agree and acknowledge that XREX shall not be liable for any Losses that you may incur arising from the said conversion.
In the event of a dispute between the Payor and you regarding the Paylynk Transaction, both parties shall be solely responsible for resolving such dispute independently. Upon a written request by you, XREX may, at its sole and absolute discretion, facilitate communication between the parties to support amicable resolution of such dispute. However, XREX shall have no obligation to do so and makes no representation, warranty or guarantee regarding the outcome or effectiveness of such facilitation.
Where such a dispute arises between Paylynk User and the Payor, XREX may, in its sole and absolute discretion, prohibit or restrict any transfer of Funds from the Third Party Payor to the XREX Account of the Paylynk User under the Paylynk Transaction. You acknowledge and agree that XREX shall bear no liability or responsibility for prohibiting or delaying the withdrawal of the relevant Funds during the period of such dispute.
Payment Allocation If there are multiple Paylynk Transactions, any Funds received by XREX will be applied to settle such Paylynk Transactions in chronological order based on the time the Payor confirms the payment method for each respective request through the PayLynk interface, unless otherwise specified in the technical interface. You acknowledge and agree that the actual settlement sequence may vary due to differences in payment methods, processing times, or other technical factors.
Limitation of Liability
To the fullest extent permitted by Applicable Laws, the maximum total liability of XREX in the provision of the Paylynk service shall not exceed the amount of service fees you pay for the relevant Paylynk Transaction.
By utilising the Paylynk services provided by XREX, you are bound by and subject to the terms and conditions of our platform and XREX is not liable for any Losses suffered by you arising from or incurred in connection with the use of Paylynk services provided by XREX, including but not limited to transaction delays, suspensions, failures in transaction processing that arise from XREX’s performance of compliance reviews, automated screenings, or fulfillment of regulatory requirements, or errors resulting from incorrect or incomplete information provided by you. You agree that you shall seek and obtain independent advice, if required and that XREX does not provide any advice, whether legal or financial or otherwise to you.
To the fullest extent permitted by Applicable Laws, you irrevocably and unconditionally agree to hold harmless and indemnify (and keep indemnified) XREX on demand against any and all Losses which XREX may sustain, incur, suffer or pay arising out of, in connection with or pursuant to the access to and/or the use of Paylynk or the Paylynk service by you, whether or not such access or use was authorised or whether it was due to any act or omission on its part, the breach of these Terms by you, the violation by you of any rights of another person or entity, the breach by you of any Applicable Laws or any claims brought by any third parties, including a Payor, against XREX in respect of the use of Paylynk or pursuant to the Paylynk Transaction.
Disclaimers on Paylynk Service
The Paylynk service is provided strictly on a “AS IS” and “AS AVAILABLE” basis. To the fullest extent permitted by Applicable Laws, XREX makes no representations and warranties of any kind, whether express, implied, or statutory, including but not limited to, the warranties of merchantability and fitness for a particular purpose or that the services will be uninterrupted or error-free.
XREX does not verify, validate or endorse the content or terms of any Paylynk Transaction. Under no circumstances shall XREX be liable for any Losses related to or arising from the use of Paylynk.
You acknowledge and agree to take full responsibility for the accuracy and completeness of any details provided by you. Although XREX may review the Paylynk Transaction you created, XREX does not provide legal advice and may request from you supporting documents to ensure compliance with the Applicable Laws or independent verification where required.
By initiating a Paylynk Transaction and creating a Customer Invitation Link, you are deemed to consent to:
the right for XREX to share your personal data with the Payor; and
the receipt of such personal data from the Payor.
You shall treat personal data contained in the Paylynk Transaction as confidential and shall not disclose such information to any third party unless expressly authorised in writing by the Payor.
You are fully responsible for ensuring that all information you provide in connection with your use of the Services, remains accurate, complete and up to date. You consent to sharing your personal information with the Payor, unless you notify XREX in writing to the contrary. XREX shall not be liable for any Losses arising from your failure to update such information or from the use of outdated, inaccurate, or incomplete information stored in the system and/or provided by you.
In the event of multiple Paylynk Transactions, you shall be responsible for determining how the Funds that have been paid by the Payor to your XREX Account should be treated in satisfying the multiple Paylynk Transactions, and you agree and acknowledge that XREX does not assist you in, and shall not be responsible for, to account for the Funds vis-à-vis the Paylynk Transactions. XREX’s sole responsibility is to provide the service of collecting payments on your behalf, based on the Paylynk Transactions you have created, and allocating the Funds received on your behalf in accordance with Paragraph 3.13.f.
You agree and acknowledge that XREX does not have any control over, or liability for, the delivery, quality, safety, legality or any other aspect of the goods or services that you may sell or transfer to, any third parties. XREX shall not be responsible for ensuring that the Payor will complete the Paylynk Transaction or is authorised to do so.
Fork and Airdrops. You remain the lawful and beneficial owner of any assets and DPTs in your account and the beneficial owner of additional assets resulting from any applicable (i) network fork that is supported by XREX and (ii) airdrop or similar distribution of DPTs. You acknowledge and agree that XREX retains sole and absolute discretion and has no obligation to support any particular forks, airdrops or similar distribution and such support remain in all instances subject to the Terms.
Fees
Fees and charges on using the Services shall be set out in the XREX Pay Help Center and may be periodically updated by us at our sole and absolute discretion.
You agree to pay XREX the fees and charges by authorising us to deduct and/or debit your Funds or from the Conversion amount for any applicable fees payable by you under these Terms.
You agree and understand that your acceptance of these Terms include your acceptance of our Fee Schedule. We reserve the right to change or modify our Fee Schedule, including increasing our fees in the Fee Schedule, in accordance with Paragraph 11.4. The updated Fee Schedule will apply prospectively to the relevant Services that take place following the effective date of such updated Fee Schedule.
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