7G XCHANGE USER TERMS AND CONDITIONS AGREEMENT

(Last updated: 15th Apr 2019)

This agreement is between you (referenced herein as “you” or with “your”) and 7GXCHANGE. By accessing, using or clicking “I agree” to any of the services made available by 7G Xchange or one of its associates through the website (https://www.7GXchange.com) , the API (https://api.7GXchange.com), our mobile applications, or any other related services provided by 7G Xchange or its associates as further described in Section 4 below (collectively, the “Services”) you agree that you have read, understood and accepted all of the terms and conditions contained in this User Terms and Conditions Agreement (the or these “Terms”), as well as our Privacy Policy and Disclaimer found at https://www.7GXchange.com/privacypolicy.html . Additionally, when using certain features of the Services, you may be subject to additional terms and conditions applicable to such features.


PLEASE READ THESE TERMS CAREFULLY AS THEY GOVERN YOUR USE OF THE SERVICES. THESE TERMS CONTAINS IMPORTANT PROVISIONS INCLUDING AN ARBITRATION PROVISION THAT REQUIRES ALL CLAIMS TO BE RESOLVED BY WAY OF BINDING ARBITRATION. THE TERMS OF THE ARBITRATION PROVISION ARE SET FORTH IN SECTION 14 BELOW ENTITLED “RESOLVING DISPUTES: FORUM, ARBITRATION, CLASS ACTION WAIVER, GOVERNING LAW.” AS WITH ANY ASSET, THE VALUE OF DIGITAL CURRENCIES CAN GO UP OR DOWN AND THERE CAN BE A SUBSTANTIAL RISK THAT YOU WILL LOSE MONEY BUYING, SELLING, HOLDING, OR INVESTING IN DIGITAL CURRENCIES. BY USING THE SERVICES, YOU ACKNOWLEDGE AND AGREE THAT (1) YOU ARE AWARE OF THE RISKS ASSOCIATED WITH TRANSACTING IN DIGITAL CURRENCIES (2) THAT YOU ASSUME ALL RISKS WITH RESPECT TO YOUR USE OF THE SERVICES AND TRADING IN DIGITAL CURRENCIES AND (3) 7G XCHANGE IS NOT RESPONSIBLE OR LIABLE FOR ANY SUCH RISKS OR ADVERSE OUTCOMES.


CONTINUOUS USE OF THE SERVICES YOU FULLY INDEMNIFY AND HOLD HARMLESS 7G XCHANGE, IT’S OWNERS, OFFICERS AND RESPECTIVE DIRECTORS, AGAINST ALL AND ANY CLAIMS, ACTIONS, DEMANDS, COSTS AND EXPENSES, WHICH MAY ARISE IN RELATION TO AND/OR AS A RESULT OF YOUR USE OF THE 7G XCHANGE.


BY ACCESSING, USING OR ATTEMPTING TO USE THE SERVICES IN ANY CAPACITY, YOU ACKNOWLEDGE THAT YOU ACCEPT AND AGREE TO BE BOUND BY THESE TERMS. IF YOU DO NOT AGREE, DO NOT ACCESS OR USE THE SERVICES.


1. Agreement Conditions

7G Xchange reserves the right to modify or change the Terms at any time and at its sole discretion. 7G Xchange will provide notice of these changes by updating the revised Terms on the webpage and changing the “[Last updated:]” date on this page. Any and all modifications or changes to these Terms will be effective immediately upon being announced on the website or released to users. As such, your continued use of 7G Xchange’s services acts as acceptance of the amended agreement and rules. If you do not agree to any modification to these Terms, you must stop using the Services. 7G Xchange encourages you to frequently review the Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Services.


2. Eligibility

By registering to use a 7G Xchange Account (as defined in Section 5 below), you represent and warrant that you (a) are at least 18 years old or of legal age to form a binding contract under applicable law, (b) are an individual, legal person or other organization with full legal capacity and authority to enter into these Terms, (c) have not previously been suspended or removed from using our Services and (d) you do not currently have an existing 7G Xchange Account. If you are entering into these Terms on behalf of a legal entity of which you are an employee or agent, you represent and warrant that you have all necessary rights and authority to bind such legal entity.


3. Prohibition of use

By accessing and using the Services, you represent and warrant that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List” nor restricted or prohibited from engaging in any type of trading by the European Union, Hong Kong Monetary Authority, Hong Kong Customs and Excise Department, Office of Foreign Asset Control as well as other administrative law enforcement agencies.


Also, we may not make all of the Services available in all markets and jurisdictions, and may restrict or prohibit use of all or a portion of the Services from Restricted Locations, which at this time include Hong Kong, Cuba, Iran, North Korea, Crimea, Sudan, Malaysia, Syria, United States of America [including all U.S.A. territories like Puerto Rico, American Samoa, Guam, Northern Mariana Island, and the US Virgin Islands (St. Croix, St. John and St. Thomas)], Bangladesh, Bolivia, Ecuador, and Kyrgyzstan. The content of the Terms shall not be excluded from the laws of the country or region under which you belong. As a result, if you do not meet these eligibility requirements, do not use our Services. 7G Xchange maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion.


4. Description of services

7G Xchange provides an online digital asset trading platform (crypto to crypto) for products commonly known as cryptographic tokens, digital tokens or cryptographic currency (collectively, “Digital Currency”). 7G Xchange does not provide fiat trading capabilities on as part of the Services. 7G Xchange functions as a trading platform provider and not as a buyer or seller in trades made between traders. 7G Xchange is also not a market maker. Users must register and open an account with 7G Xchange as further set forth in Section 5 below and deposit digital assets prior to commencement of trading. Traders may request the withdrawal of their digital assets, subject to the limitations as stated in these Terms.


7G Xchange strives to maintain the accuracy of information posted on the Services however it cannot and does not guarantee the accuracy, suitability, reliability, completeness, performance or fitness for any purpose of the content made available through the Services and will not be liable for any loss or damage that may arise directly or indirectly from your use of such content.


We have taken reasonable measures to ensure the accuracy of the information on the website; however, we do not guarantee the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any Services or products available through the website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your inability to access the Site, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through our platform. We will not have any liability for the use or interpretation of such information.


You shall prepare devices and bear costs as follows: 1) internet-connected device, including but not limited to computer or other internet-connected terminals; 2) internet-accessing costs, including but not limited to internet fees, rental charges for internet-connected equipment’s, cellular data fees, etc.


While using the Services, you accept the information services provided by us. You hereby authorize us to send commercial information to you via e-mail, SMS, mobile notification, or mailing address. You can opt out of such services by changing relevant settings on the website.


You acknowledge and consent that the Services are provided by us according to its current technological capacity and other conditions. While we have made every effort to ensure continuity and security of the Services, we are unable to completely foresee and hedge legal, technological and other risks including but not limited to force majeure, virus, hacker attack, system instability, flaw in third-party services, act of government, etc. that may result in service interruption, data loss and other losses and risks. When the system platform is unable to operate properly because of the following circumstances and you are unable to access the Services or place or cancel an order, we assume no liability for damages. These circumstances include, but are not limited to:


  • System downtime during maintenance as announced by our platform;
  • Telecom or Networking equipment issues;
  • Typhoon, earthquake, tsunami, flood, power failure, war, terrorist attacks, and other force majeure factors;
  • Any other issues, including hacker attacks, computer virus intrusion or attack, website or backend maintenance and upgrade, banking related issues, government regulation or mandates, and any other third-party issues;
  • Damages to you or other users or other third parties caused by third parties.

Information on the Services can be subjected to change without notice and is provided for the primary purpose of facilitating you to arrive at independent decisions. 7G Xchange does not provide investment or advisory advice and will have no liability for the use or interpretation of information as stated on the Services or other communication mediums. You must understand that there are risks involved in trading in Digital Currencies. 7G Xchange encourages all users to exercise prudence and trade responsibly within their own means.


7. Orders and Service Fees

a. Disclaimer of Warranties

TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, THE SERVICES, THE 7G XCHANGE MATERIALS AND ANY PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF 7G XCHANGE ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS AND 7G Xchange EXPRESSLY DISCLAIMS, AND YOU WAIVE, ANY AND ALL OTHER WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT OR WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE IN TRADE. WITHOUT LIMITING THE FOREGOING, 7G XCHANGE DOES NOT REPRESENT OR WARRANT THAT THE SITE, THE SERVICES OR 7G XCHANGE MATERIALS ARE ACCURATE, COMPLETE, RELIABLE, CURRENT, ERROR-FREE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. 7G XCHANGE DOES NOT GUARANTEE THAT ANY ORDER WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN. EXCEPT FOR THE EXPRESS STATEMENTS SET FORTH IN THIS TERMS, YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE NOT RELIED UPON ANY OTHER STATEMENT OR UNDERSTANDING, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF THE SERVICES. WITHOUT LIMITING THE FOREGOING, YOU HEREBY UNDERSTAND AND AGREE THAT 7G XCHANGE WILL NOT BE LIABLE FOR ANY GENERAL LOSSES, GENERAL DAMAGES, LOST PROFITS, LOST BUSINESS OPPORTUNITIES, OR OTHER TYPES OF SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR RELATING TO: (A) ANY INACCURACY, DEFECT OR OMISSION OF DIGITAL CURRENCY PRICE DATA, (B) ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA, (C) INTERRUPTION IN ANY SUCH DATA AND (D) ANY DAMAGES INCURRED BY ANOTHER USER’S ACTIONS, OMISSIONS OR VIOLATION OF THIS AGREEMENT THE DISCLAIMER OF IMPLIED WARRANTIES CONTAINED HEREIN MAY NOT APPLY IF AND TO THE EXTENT IT IS PROHIBITED BY APPLICABLE LAW OF THE JURISDICTION IN WHICH YOU RESIDE.


b. Disclaimer of Damages and Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL 7G Xchange, ITS OWNER, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS BE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR SIMILAR DAMAGES OR LIABILITIES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF DATA, INFORMATION, REVENUE, PROFITS OR OTHER BUSINESS OR FINANCIAL BENEFIT) ARISING OUT OF OR IN CONNECTION WITH THE SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF 7G Xchange AND ITS AFFILIATES, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY EVEN IF 7G XCHANGE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES EXCEPT TO THE EXTENT OF A FINAL JUDICIAL DETERMINATION THAT SUCH DAMAGES WERE A RESULT OF 7G XCHANGE’S GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT OR INTENTIONAL VIOLATION OF LAW. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.NOTWITHSTANDING THE FOREGOING, IN NO EVENT WILL THE LIABILITY OF 7G Xchange, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS ARISING OUT OF OR IN CONNECTION THE SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF 7G XCHANGE OR ITS AFFILIATES WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY, EXCEED THE AMOUNT OF THE FEES PAID BY YOU TO 7G XCHANGE UNDER THIS AGREEMENT IN THE TWELVE-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.


c. Indemnification

You agree to indemnify and hold harmless 7G Xchange, its owner, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to (i) your use of, or conduct in connection with, the Services, (ii) your breach or our enforcement of these Terms, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of the Service. If you are obligated to indemnify 7G Xchange, its affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to this clause, 7G Xchange will have the right, in its sole discretion, to control any action or proceeding and to determine whether 7G Xchange wishes to settle, and if so, on what terms.


9. Announcements

a. Disclaimer of Warranties

Please be aware that all official announcements, news, promotions, competitions and airdrops will be listed on https://support.7GXchange.com/announcements where we urge all users to refer to regularly. 7G Xchange will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements


10. Termination of Agreement

You agree that 7G Xchange shall have the right to immediately suspend your account (and any accounts beneficially owned by related entities or affiliates), freeze or lock the funds in all such accounts, and suspend your access to 7G Xchange for any reason including if it suspects any such accounts to be in violation of these Terms, our Privacy Policy, or any applicable laws and regulations. You agree that 7G Xchange shall not be liable to you for any permanent or temporary modification, suspension or termination of your Account or access to all or any portion of the Services. 7G Xchange shall have the right to keep and use the transaction data or other information related to such accounts. The above account controls may also be applied in the following cases:


  • The account is subject to a governmental proceeding, criminal investigation or other pending litigation;
  • We detect unusual activity in the account;
  • We detect unauthorized access to the account;
  • We are required to do so by a court order or command by a regulatory/government authority

In case of any of the following events, 7G Xchange shall have the right to directly terminate this agreement by cancelling your Account, and shall have the right to permanently freeze (cancel) the authorizations of your account on 7G Xchange and withdraw the corresponding 7G Xchange Account thereof:


  • after 7G Xchange terminates services to you;
  • you allegedly register or register in any other person’s name as 7G Xchange user again, directly or indirectly;
  • the information that you have provided is untruthful, inaccurate, outdated or incomplete;
  • when these Terms are amended, you expressly state and notify 7G Xchange of your unwillingness to accept the amended Terms;
  • you request that the Services be terminated; and
  • any other circumstances where 7G Xchange deems it should terminate the services.

Should your Account be terminated, the Account and transactional information required for meeting data retention standards will be securely stored for 5 years. In addition, if a transaction is unfinished during the Account termination process, 7G Xchange shall have the right to notify your counterparty of the situation at that time. You acknowledge that a user-initiated account exit (right to erasure under GDPR or other equivalent regulations) will also be subjected to the termination protocol stated above If 7G Xchange receives notice that any funds held in your Account are alleged to have been stolen or otherwise are not lawfully possessed by you, 7G Xchange may, but has no obligation to, place an administrative hold on the affected funds and your Account. If 7G Xchange does place an administrative hold on some or all of your funds or Account, 7G Xchange may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to 7G Xchange has been provided to 7G Xchange in a form acceptable to 7G Xchange. 7G Xchange will not involve itself in any such dispute or the resolution of the dispute. You agree that 7G Xchange will have no liability or responsibility for any such hold, or for your inability to withdraw funds or execute trades during the period of any such hold.


a. Remaining funds after Account termination

Except as set forth in subsection (b) below, once the Account is closed/withdrawn, all remaining balance (which includes charges and liabilities owed to 7G Xchange) on the account will be payable immediately to 7G Xchange. Upon payment of all outstanding charges to 7G Xchange (if any), the User will have 5 business days to withdraw all funds from the account


b. Remaining funds after Account termination

due to fraud, violation of law, or violation of these terms) 7G Xchange maintains full custody of the funds and User data/information which may be turned over to governmental authorities in the event of Account suspension/closure arising from fraud investigations, violation of law investigations or violation of these Terms.


11. No Financial Advice

7G Xchange is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using the Services. No communication or information provided to you by 7G Xchange is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. All trades are executed automatically, based on the parameters of your order instructions and in accordance with posted trade execution procedures, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. 7G Xchange does not recommend that any Digital Currency should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any Digital Currency, you should conduct your own due diligence and consult your financial advisors before making any investment decision. 7G Xchange will not be held responsible for the decisions you make to buy, sell, or hold Digital Currency based on the information provided by 7G Xchange


12. Compliance with Local Laws

It is your responsibility to abide by local laws in relation to the legal usage of 7G Xchange in your local jurisdiction. You must also factor, to the extent of their local law all aspects of taxation, the withholding, collection, reporting and remittance to your appropriate tax authorities. You acknowledge and declare that the source of your funds in 7G Xchange and any of its services come from a legitimate manner and are not derived from illegal activities. 7G Xchange maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate your account and your funds which are flagged out or investigated by legal mandate.