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Terms & Conditions
Access Zenit World's Terms and Conditions to understand the rules and policies governing platform usage.
Especially by making use of our services, you acknowledge and agree that;
- 1.You are aware of the risks associated with transactions of Virtual Assets and their derivatives;
- 2.You shall assume all risks related to the use of our services and transactions of virtual currencies and their derivatives, where there is a substantial risk that you lose money buying, selling, holding, or investing in virtual currencies; and
- 3.We shall not be liable for any such risks or adverse outcomes
1.1. “Virtual Asset” means a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes but does not include digital representations of fiat currencies and or digital record of a credit against a financial institution of fiat currency, securities and other financial assets that can be transferred digitally.
1.2. “Virtual Assets Exchange” means a trading platform that is operated for the purpose of allowing an offer or invitation to be made to buy or sell any Virtual Asset in exchange for money or any Virtual Asset and which comes into custody, control, power or possession of, or over, any money or any Virtual Asset at any point in time during its course of business;
1.3. “ZENIT” is a Virtual Asset Exchange Services and is regulated under the Laws and regulations of the Costa Rica.
1.4. “Personal data” means any information in respect of commercial transactions, which is being processed wholly or partly by means of equipment operating automatically in response to instructions given for that purpose; is recorded with the intention that it should wholly or partly be processed by means of such equipment; or is recorded as part of a relevant filing system or with the intention that it should form part of a relevant filing system, that relates directly or indirectly to a natural person whether living or deceased, who is identified or identifiable from that information, or from that and other information in the possession of a data User, including any sensitive personal data and expression of opinion about the User;
1.5. “User'' means any natural person who has attained the age of eighteen (18) with legal capacity and/or any legal entity who successfully creates an account in the Platform and completes the Know Your Client (“KYC”) verification process. (Please refer to Point No. 3.2 for further information)
1.6. “Authorized person of the Entity” means any natural person appointed by the entity under a letter of authorization to (a)sign in, (b) open an account and (c) to carry out transactions in our Platform.
1.7. “Letter of Authorization” means the letter provided by any legal entity which attests that the individual filling up the KYC has the legal authority to open a corporate account on our Platform, signs in and carries out transactions on behalf of the entity. Such letters shall be signed, stamped, and dated (not less than 6-month-old). The letter shall include the Entity’s full name and full names of UBO, who is authorizing the “Authorized person of the Entity”.
1.8. “Document(s)” includes any medium in which data is recorded, whether printed, or on tape, or film or by electronic means, or otherwise; map, diagram, photograph, film, microfilm, video-tape, sound recording, or machine- readable record; any record which is capable of being produced from a machine-readable record by means of equipment or a programme, or a combination of both, and/or any equipment or a programme, or a combination of both, and is used for that purpose by the public body or private body which holds the record;
1.9. “Transaction” refers to the transfer of currency between two virtual wallets. A transaction is submitted to a public ledger to await confirmation before the trade can be completed. During a transaction, an encrypted electronic signature based on a mathematical formula is required as proof of ownership.
1.10. “GDPR” means the General Data Protection Regulation which is Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons regarding the processing of personal data and on the free movement of such data and repealing Directive 95/46/EC (General Data Protection Regulation) (Text with EEA relevance), OJ L 119, 4.5.2016. If your country of residence is based within the European Economic Area (“EEA”) and the GDPR applies to our processing of your personal data (within the meaning of GDPR), If your Country of Residence is outside of the EEA, provisions related to the GDPR shall not apply to your use of the Services.
1.11. “Arbitration” means a process of settling a dispute between parties before an arbitral tribunal, and includes any arbitration mutually agreed by both parties.
1.12. “Market Manipulation” is an activity to attempt to artificially influence a Virtual Asset’s price or the behavior of the markets.
1.13. “Pump and Dump” is where a group of people work together to artificially inflate a Virtual Asset’s value.
1.14. "Wash Trading" is feeding misleading information to the Virtual Asset market where any individual or a group of individuals rapidly buys and sells the same Virtual Asset to inflate the volume artificially.
1.15. “Front-running” refers to the process when someone uses technology or market advantage to get prior knowledge of upcoming transactions. This might also be known as slow matching.
1.16. “Stop Hunting” is a strategy that pushes price in a certain direction to trigger a cascade of stop loss orders.
1.17. “Churning” is the illegal and unethical practice by a broker of excessively trading assets in a client’s account in order to generate commission.
1.18. “Quote stuffing” refers to a practice of placing an unusual number of buy or sell orders on a particular security and then immediately canceling them.
1.19. “False trading” is where a person intentionally or negligently or recklessly, does or causes anything, to effect or is likely to effect by creating a false or misleading appearance of active trading in a Virtual Asset or creating an artificial price for a Virtual Asset.
1.20. “Insider dealing” is an illegal activity in which a person who has access to non-public, material information about an exchange or company or Virtual Asset, utilizes that information to make advantageous trades and discloses the inside information directly or indirectly to another person.
1.21. “Price rigging” is known as price fixing or collusion, which is a form of market manipulation.
1.22. “Spoofing and Layering” are both forms of market manipulation whereby a trader uses fake orders to deceive other traders as to the true levels of demand in the market.
1.23. “ZEN Token”, is the native token of the ZENIT. It is a deflationary asset that aims to represent the growth of our Platform through the ability to generate rewards. ZEN Token may allow Users to access all the services and benefits of the Platform.
1.24. “sZEN” is the non-transferable token that is a representation for the number of ZEN Tokens staked.
1.25. “Lock up Period” is the period of time, specified in days, for which the deposited funds are not accessible and are accruing earnings
1.26. “Swap” refers to exchanging one Virtual Asset you hold for the equivalent value of another Virtual Asset.
1.27. “Prohibited Activity or Business” refers to;
1.27.1. any unlawful activity which violates any law of Costa Rica and International forum
1.27.2.any abusive activity such as transmitting or uploading any material to the site that contains viruses, Trojan horses, worms, or any other harmful programs,
1.27.3. any use of fraud activity which operates to defraud ZENIT services
1.27.4. any activity related to terrorist financing
1.27.5. any activity related to child abuse
1.27.6.any Transactions made in relation to the sanctioned jurisdictions or person
1.27.7. any activity related fraud shops
1.27.8. any activity related to scams
1.27.9. any activity related to ransomware
1.27.10. any activity related to darknet market
1.27.11. any activity related to gambling
1.27.12. any pump and dumps scheme,
1.27.13. any activity related to front-running
1.27.14. any activity related to wash trading
1.27.15.any activity related to spoofing and layering
1.27.16.any activity related to stop hunting
1.27.17. any activity related to churning and quote stuffing
1.27.18.any activity related to false trading and insider dealing
1.27.19.any activity related to price rigging and deceptive;
1.27.20. any activity in engagement with involving items that infringe or violate any of the copyright, trademark, right of publicity or privacy or any other proprietary right, name, logo or brand of the ZENIT account
1.27.21. any sales or resale of brand name or designer products, or services that are illegally imported or exported or which are stolen,
1.27.22. any business related to marijuana dispensary, sale of tobacco, e-cigarettes, e-liquid, online prescription or pharmaceutical services, age restricted goods or services, weapons and munitions, gunpowder and other explosives, fireworks, toxic, inflammable and radioactive materials
1.27.23. any sales of narcotics, controlled substances or any equipment or tools designed for making or using drugs
1.27.24. any business related to products that make health claims that have not been approved or verified by the applicable local or national governmental authority
1.27.25. any sale of a legal substance that provides the same effect of an illegal drug
1.27.26. any services or business related to pornography and other obscene materials, sites offering any services related to prostitution and sexual related services.
1.27.27. any business which has financial risk, legal liability or violations of any regulations
2.1. The use of the Platform and its content is voluntary and falls under the responsibility of the User.
2.3.1. Retail Client – the User who is a natural person who has attained the age of 18 with legal capacity and sufficient authorization to enter into these Terms. Due to certain internal policy decisions of ZENIT, we may restrict certain citizens or residents of some countries.
2.3.2. Corporate Client-the User who is a legal entity and has sufficient authorization to enter into these Terms. The Authorized person of the Entity shall submit the Letter of Authorization in order to sign up with our Platform. Due to certain internal policy decisions of ZENIT, we may restrict certain citizens or residents of some countries.
2.4 In the event of any changes of the Authorized person of the Entity, the entity shall report to ZENIT in writing immediately without fail.
2.8. Airdrops and/or Rewards - The ZENIT reserves the right to distribute any Airdrops or Rewards to the Users on the Platform. Furthermore, ZENIT retains the right to withdraw or remove any such Airdrops or Rewards granted to the Users on its sole discretion.
2.9. User Restrictions - We reserve the right to choose markets and jurisdictions to conduct business and shall restrict or refuse some Users due to internal policy decisions and in the event if the User is involved in any Anti-money Laundering (AML) high risk jurisdictions as per Financial Action Task Force (FATF) and Basel recommendations or any economic sanctions lists, such as United Nations Security Council Sanctions List, and The Office of Foreign Assets Control of the US Department of the Treasury (OFAC).
2.10. Payment and Withdrawal - Withdrawal of funds from the Platform is permissible only to Your personal bank account and/or personal crypto wallet. The Platform does not allow any outgoing transactions to third parties. Platform does not accept deposits (incoming transactions) from any third parties. To clarify, a legal entity owned by You is also considered a third party in this context. Joint accounts are an exception in this case.
2.11. These Terms are governed by and shall be construed in accordance with the laws of Costa Rica.
3.1. Registration of ZENIT Account (“Account”)
In order to sign up, you must register on the Platform. By using our Platform, you agree and represent that you will use our Platform account for yourself, and not on behalf of any third party, unless you have obtained prior approval from ZENIT in writing.
We have implemented a fully compliant and advanced User onboarding and Anti-Money Laundering screening system (“KYC System”) using our third party service providers, that is designed to facilitate the process of User registration and identity verification in order to assess, manage, and mitigate any money laundering or terrorist financing risks associated with the User.
In order to conduct the identity verification, we may insist you to complete the following KYC process;
3.2.1. Account Creation & Registration
3.2.2. Sanction & PEP Screening
3.2.3. Document Verification
3.3.4. Identity Verification
3.3.5. Liveness check and Face Match
3.2.6. Known Face Search
3.2.7. Video Calls and Interviews (as necessary)
3.2.8. Email, Phone and Address verification
In providing us with the above-mentioned information, you confirm that the information is accurate and authentic. Further, you agree to keep us updated if any of the information you provide changes. If there are any grounds for believing that any of the information you provided is incorrect, false, outdated, or incomplete, we reserve the right to send you a letter of demand for corrections, suspend, freeze, or terminate all/part of our services to you. If we are unable to reach you with the contact information you provided, you will be fully liable for any loss or expense caused to us during your use of our services.
Our services can be accessed directly using the Platform and mobile application. Access to our services may become degraded or unavailable during times of significant volatility or volume. This could result in the inability to buy or sell for periods of time and may also lead to support response time delays. We shall not be liable for any losses resulting from or arising out of Transaction delays.
3.4.1 We have been committed to maintain the security of User entrusted Virtual Assets, and have implemented standard protection. Our Users are requested to protect their account access credentials (Username and Password) as confidential information and shall not disclose such information to any third party at any circumstances. You shall protect your account from unauthorized access to avoid unnecessary authentication issues. We have implemented stronger security with the two-factor authentication system to prevent cybercrimes and the loss of Personal data.
3.4.2. In order to circumvent loss, misuse, unauthorized acquisition, or alteration of your Personal data, Users are requested to choose the strongest password and to protect the account privacy data from any third-parties.
3.4.3. You also agree to be solely responsible for taking the necessary security measures to protect your account and personal information.
3.4.4. In the event of any unauthorized access, we insist the User to notify the customer support immediately [Please refer to the clause no.19]. We will never under any circumstances ask you for Username, IDs, Passwords, and we assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of ZENIT and/or failure or act on any notices or alerts that we may send you.
3.4.5 You are aware and agree to the conduct of transaction monitoring in order to protect Users from harmful conduct, transaction monitoring is undertaken using our third party service providers. Such transaction monitoring is for the safety of your account, and to comply with mandatory AML regulations.
4.1 Services provided
We provide the following services (collectively shall be referred to as “Services”) such as;
We provide the Swap feature Services which enable users to execute trades using both market and limit orders. With market orders, Users can buy or sell a Virtual Asset immediately at the best available price on the market. On the other hand, limit orders allow Users to set the desired price at which they want to buy or sell a Virtual Asset, and the trade is executed when the market reaches the specified price.
4.1.2. Copy Trading
The Copy Trading Services allow Users to follow and automatically copy the trades of experienced professional traders on the Platform. Essentially, Users can browse through a list of successful traders, view their trading history and performance, and then choose to copy their trading operations. Once you have selected a trader to copy, any trades that the trader makes will be automatically shown in your Account. This means that Users can benefit from the experience and expertise of successful traders without needing to have the same level of knowledge or experience themselves. PLEASE READ THE ‘COPY TRADING TERMS AND CONDITIONS’ FOR FURTHER INFORMATION
We at ZENIT provide Staking Services to the Users who hold ZEN tokens. Users may decide to stake their tokens to obtain sZEN, non-transferable tokens. The amount of sZEN is proportional to the lockup period, and thus the longer the token lockup period, the more sZEN tokens are received. The amount of sZEN held, determines one's share of staking rewards and one's tier. Staking rewards are redistributed on a monthly basis, proportionally to the amount of sZEN possessed. Monthly rewards are accumulated through (a) Our Platform Fee: 25% of the fees collected go into the fee vault, (b) Incentive Program: The total number of tokens within the Treasury (c) Tier: represents the tier of one's Account. This depends on the amount of sZEN held and provides access to exclusive benefits and lower fees.
4.1.4. Fiat Wallet
We provide Fiat Wallet Services which may allow you to deposit and withdraw fiat currencies like US Dollars (USD) and Euros (EUR) directly from your bank accounts to your ZENIT Account.
4.1.5. Virtual Asset Wallet
We provide Virtual Asset Wallet which will allow you to deposit and withdraw cryptocurrencies including but not limited to USDT, USDC, and BUSD.
We permit you a revocable, limited, non-transferable and non-sublicensable license to access and use Services through any compatible devices for your personal purposes. You are prohibited from using our Services for resale or commercial purposes, including Transactions on behalf of other persons or entities, without legal authorization from us.
In the event of attempt to access any part of function of the properties without authorization or any networks of our Services, violate any security or authentication measures or impersonate or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you sent to our Platform or using our Services in any illegal manner, and creating a substantial doubt of any suspicious activity or suspicious transfer of Virtual Asset, we shall take the below mentioned actions under relevant regulations without your consent or prior notice;
- 1.Suspend the account temporarily
- 2.Freezing your Transaction
- 3.Reporting the incident to the relevant authorities
- 4.Deleting any information, you published that are found to be violations
- 5.Terminate your account
5.1. attack Our network security, in particular by uploading or attaching files that are infected with viruses or other harmful components capable of impairing the operation of another user's device;
5.2. impair or in any way attempt to impair other users' access to or use of the Website or the Services (e.g., by generating, whether manually or by automated means, an unusually high number of accesses);
5.3. harvest or otherwise collect information about users, including email addresses, without their consent;
5.4. post false, inaccurate, misleading, defamatory, unlawful, harassing, libelous, privacy-invading, abusive, threatening, harmful, vulgar, obscene, or otherwise objectionable content on Our Website or through/on Our Services or commercialize any Our services, application, or any information or software associated with them;
5.5. use, copy, reproduce, modify, translate, publish, broadcast, transmit, distribute, perform, upload, display, license, sell or otherwise exploit for any purpose any content of the Website not owned by you in a way that violates someone else’s (including Ours) rights, and
5.6. commercialize any Our Services, application, or any information or software associated with them. We reserve the right to settle any damages caused due to the breach of these Terms from the funds stored in Your account.
6.1. By accessing or using our Platform, you are voluntarily choosing to engage in sophisticated and risky asset transactions. You are further acknowledging that you are aware of the inherent risks associated with using cryptographic and blockchain-based systems including, but not limited to, risks of financial loss, technology glitches and hacking. We work hard to provide state-of-the-art systems and security. Nonetheless, certain issues and risks are unavoidable, and if such issues or problems arise in connection with your use of our Platform, including technical difficulties with depositing or trading Virtual Assets, it may take days, weeks, or months to resolve, and some issues may not be resolved at all.
6.2. You further understand that the markets for Virtual Assets are highly volatile due to factors including but not limited to, adoption, speculation, technology, security, and regulation. You acknowledge and accept that the cost and speed of transacting with cryptographic and blockchain-based systems are variable and may increase dramatically at any time. You further acknowledge and accept the risk that your Virtual Assets may lose some or all of their value while they are supplied and you may suffer loss due to the fluctuation of prices of tokens in a trading pair or liquidity pool, and, especially in expert modes, experience significant price slippage and cost. You understand that anyone can create a token, including fake versions of existing tokens and tokens that falsely claim to represent projects, and acknowledge and accept the risk that you may mistakenly trade those or other tokens. You further acknowledge that we are not responsible for any of these variables or risks, and cannot be held liable for any resulting losses that you experience while accessing or using the Platform. Accordingly, you understand and agree to assume full responsibility for all of the risks of accessing and using the Platform.
6.3 Market Manipulating - Market Manipulating is an activity to attempt to artificially influence a Virtual Asset’s price or the behavior of the markets. Any single individual or a group of people may create an illusion in the market in order to profit from the aftermath. You acknowledge and agree that you shall not take, directly or indirectly, any action designed to or that might reasonably be expected to cause or result in any market manipulation including pump and dumps scheme, front-running, wash trading, spoofing and layering, stop hunting, churning, quote stuffing, false trading, insider dealing, price rigging, any deceptive activity and etc., In any circumstances if we identify and/or suspects that you have engaged in crypto market manipulation including pump and dumps scheme, front-running, wash trading, spoofing and layering, stop hunting, churning, quote stuffing, false trading, insider dealing, price rigging, any deceptive activity and etc., we reserve the sole discretion to freeze, suspend and/terminate your transactions/account in our Platform. In the event that you get to know or have reason to believe that you have engaged with above mentioned activities, you must immediately contact us.
6.4. Please note that WE DO NOT PROVIDE ANY PERSONAL, INVESTMENT OR FINANCIAL ADVICE. PLEASE REFER TO THE RISK DISCLOSURE PROVIDED IN OUR PLATFORM FOR FURTHER AWARENESS. Note that this Risk Disclosure does not explain all of the risks or how such risks relate to your personal circumstances.
ZENIT DOES NOT CONTROL OR ENDORSE, AND MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING ANY THIRD-PARTY PROVIDERS, AND YOUR ACCESS TO AND USE OF SUCH THIRD-PARTIES IS AT YOUR OWN RISK.
8.1. The Platform may contain links to third-party (including, but not limited to, Collaboration Partner) websites or services that are not owned or controlled by Us. These links are provided solely as a convenience to you.
8.2. We have no control over, and We assume no responsibility for, the information, content, privacy policies, or practices of any third-party websites or services. You further acknowledge and agree that We shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such information, content, goods or services available on or through any such websites or services.
8.3. We do not assume any liability for the content of any referenced or linked off-site page and are not liable for that content. The risk of injury rests entirely with You. Links from the Platform to other websites do not constitute an endorsement, a recommendation or an approval from Us. It is your responsibility to evaluate the content and usefulness of information obtained from other websites.
9. SUSPENSION, FREEZING, RESTRICTION, CANCELATION, DEACTIVATION OR TERMINATION
9.1. We may, in Our sole and absolute discretion, without liability to You or any third party, refuse to let You open an Account, suspend your Account, consolidate Accounts if You have more than one or terminate your Account or your use of one or more of the Services.
9. 2. We may suspend, freeze, restrict, cancel, deactivate or terminate your access to any or all of our services in our sole discretion, If;
9.2.1. We are required by any arbitration, court order or any binding order of a government authority;
9.2.2. We reasonably suspect you to use your ZENIT Account involved in connection with a Prohibited Activity or Business [See Clause 1.27];
9.2.3. We reasonably suspect that any suspicious activity or suspicious Transaction took place in your account related to Prohibited Activity or Business;
9.2.4. We identify or suspect that you have taken directly or indirectly any action designed to or that might reasonably be expected to cause or result in any market manipulation including but not limited to pump and dumps scheme, front-running, wash trading, spoofing and layering, stop hunting, churning, quote stuffing, false trading, insider dealing, price rigging, any deceptive activity;
9.2.5. We reasonably identity or suspect that you are a sanctioned individual or entity;
9.3 We may also temporarily suspend access to your Account in the event that a technical problem causes a system outage or Account errors until the problem is resolved. We are entitled to take all and any of the aforementioned actions in regard to your Account for compliance reasons without the need for providing You with more detailed explanation thereof than just “for compliance reasons” in order to prevent the tipping-off risk.
9.4 In the event of any suspension, freezing, restriction, cancellation, deactivation or termination of your Account and any of our Services, we will provide you with notice of our actions unless a court order or other legal process prohibits us from providing you with such notices.
9.5. You acknowledge that we shall take decisions in regard to any suspension, freezing, restriction, cancellation, deactivation, or termination and these may be based on any confidential criteria that are essential to our risk management and security protocols. Along with that, you further agree that we are under no obligation to disclose the details of its risk management and security procedures to you.
9.6. You shall cancel your Account at any time by selling or transferring your Virtual Asset and visiting our cancellation option. By canceling your Account, you authorize us to cancel or suspend any pending transactions at the time of cancellation. You will not be charged for canceling your Account; however, you will be required to pay any outstanding amounts owed to us (if applicable).
9.7. We reserve the right to restrict or refuse to permit withdrawals from your Account if (i) your Account has otherwise been suspended or closed by Us in accordance with these Terms; (ii) to do so would be prohibited by law or a court order or We have determined that the assets were obtained fraudulently; or (iii) You have not undergone the required identity verification procedure such that your identity has been verified, as indicated by your Account.
9.8. Fees paid for upgrade of tier levels or any other fees paid when using our Services are not refundable nor will be returned to you if your Account is closed or suspended whether on your initiative or for any other reason by Us.
9.9. We reserve the right to maintain your account registration and trading information, after You close your Account, for business and regulatory compliance purposes, for a period no less than 5 years, subject to applicable laws and regulations
10.1. In the event of a death of User, who is a natural legal person;
10.1.1. by receiving a legal document confirming your death or any information leading us to believe that you have died, we will freeze your Account and no transactions shall be permitted.
10.1.2 Upon receiving the legal document such as Death Certificate, Probate document, or letter of administration or a valid Will or Similar testamentary document of the deceased’s Account, we shall grant access to the designated fiduciary.
10.1.3. If we determine, in our sole and absolute discretion, that there is uncertainty regarding the validity of the fiduciary designation, we reserve the right to require an order resolving such issue from a court of competent jurisdiction before taking any action relating to your Account.
11.1. In the event of liquidation of a Corporate Client which is a legal entity;
11.1.1 May upon any (a) voluntary or involuntary liquidation, (b) bankruptcy, or (c) liquidation by any court order or authority, shall request to claim the asset owned in the Account.
11.1.2 In such circumstances, the Authorized person of the Entity shall have the right to claim such Virtual Asset.
11.1.3 Upon receiving the legal document related to the liquidation of the entity, submitted by the Authorized person of the Entity, the Corporate Client shall receive the right to sell or transfer the Virtual Asset.
We at ZENIT, provide the custodial solution through an external third-party provider. Custody holder shall process the User’s Virtual Assets. Zenit shall have no responsibility or liability with respect to any custodial function.
If ZENIT is holding Virtual Assets in your Account and is unable to contact you and has no record of your use of Services for seven (7) years, and you have not responded to our dormant account notification within sixty (60) days, we may report these Virtual Assets in your account as “Unclaimed Property” to the applicable authority.
In no event shall ZENIT, its affiliates and service providers or any of the respective officers, shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers, joint ventures or contractors, be liable for any special, incidental, indirect, intangible, punitive, consequential damages or any lost profits, diminution in value, any loss, damage, breach of data arising out of Services, any performance or non-performance of Services or other product provided by or on behalf of ZENIT and its affiliates, whether under tort, contract, statute, strict liability, negligence or otherwise arising out of or in connection with authorized or unauthorized use of our Platform or Services or contract even if an authorized representative of ZENIT has been advised of or knew or should have known of the possibility of such damages, and notwithstanding the failure of any agreed or other remedy or compensation of its essential purpose, except to the extent of a final judicial determination that such damages were result of our 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.
You agree and acknowledge that you will indemnify and hold ZENIT, its affiliates, service providers, directors, agents, respective officers, employees, joint venture's, representatives, contractors, and licensors harmless from any and all claims, demands, losses, proceedings, suits, or damages, costs or expenses, including attorney’s fees, and any fines, fees, or penalties imposed by any regulatory authority arising out of or related to any violation or breach of this agreement or any applicable law, regulation, or rights of any third party. In such circumstances, we reserve the right, in our sole discretion, to control any action or proceeding in the manner we wish to settle it.
18.1. We have adopted a Complaints procedure in order to ensure a fair and quick process for handling all complaints that may arise,
18.1.1. If any User who is dissatisfied or facing any technical issues or has any other inquiries (hereinafter referred to as “Tickets”) with the Services provided in our Platform shall contact “Customer Support” by submitting a Ticket via “Submit a ticket” option available in our Platform under the “Support” feature.
18.1.2. Once a Ticket has been received, the respective Customer Support executive shall acknowledge the receipt of the Ticket received to the User and undertake an initial review of it.
18.1.3. In the event the Tickets are related to the following issues, the Customer Support executive shall assign the Tickets to the IT Department:
188.8.131.52. OTP issues
184.108.40.206. Unable to proceed with Transaction issues
220.127.116.11. Function error issues
18.104.22.168. Staking issues
22.214.171.124. Other technical department related issues
18.1.4. In the event the Tickets are related to the following issues, the Customer Support executive shall assign the Tickets to the Compliance Department:
126.96.36.199. KYC related issues
188.8.131.52 Transactional issues
184.108.40.206 Account creation and deactivation issues
220.127.116.11. Email address or phone number change
18.104.22.168. Reset two factor authentication requests
18.2. The Customer Support shall make every effort to investigate your raised issues and shall acknowledge receipt of your Tickets within twenty-four (24) hours from the receipt of your complaint.
18.3. In any exceptional circumstances, subject to the issues raised by the User, the Ticketing process might take approximately five (5) to seven (7) business days to be solved. In the event of exceeding such stipulated time, the Customer Support may inform you of the reason for such delay.
18.4 If the Customer Support cannot meet the expectations of the User, the User shall have the ability to reopen the Ticket for further investigation. Please note that we shall consider your complaint as closed and cease the relevant investigation in case you fail to respond to our officers within the period of one (1) month from the date of the submission of your complaint.
18.5 IN ANY CIRCUMSTANCES, FAILURE TO FOLLOW THE ABOVE-MENTIONED COMPLAINTS RESOLUTION PROCESS OF THESE TERMS, BEFORE FILING AN ARBITRATION CLAIM OR SUIT IN ANY LOCAL SMALL CLAIMS COURT OR INSTITUTION, WE SHALL HAVE THE RIGHT TO ASK THE ARBITRATOR TO DISMISS YOUR FILING OF COMPLAINT, UNLESS YOU COMPLETE THE INTERNAL COMPLAINTS RESOLUTION PROCESS.
19.1. In the event, if you are not satisfied with the Complaint Resolution Process made, you shall have the right to refer your complaint to the Arbitration process.
19.3. The arbitration shall be conducted by a sole, neutral arbitrator and shall take place in BVI or LCIA London or another mutually agreeable location by both parties, in English Language.
19.4. Arbitration decision shall be final and binding.
You and ZENIT agree that, to the extent permissible by law, all claims must be brought in a party’s individual capacity, and not on a class, representative, or collective basis, and the parties hereby agree to waive all rights to have any dispute brought, heard, administered, resolved, or arbitrated on a class, collective, or representative basis. Disputes involving more than one User cannot be arbitrated or consolidated with those of any other User. Combining or consolidating individual arbitrations into a single arbitration is not permitted without the consent of all parties, including ZENIT. Further, you acknowledge that, by agreeing to these terms, you and ZENIT are each waiving the right to a trial by jury and the right to participate in a class action.
You may not assign, sub-license or otherwise transfer any of your rights and/or obligations under these Terms to any third party. You acknowledge that We may assign, sub-license or otherwise transfer any of your rights and/or obligations under these Terms to any third party at any time.
If any provision of these Terms is found to be invalid for any reason, the invalidity of that provision will not affect the remaining provisions of these Terms, which will remain in full force and effect. You agree to mutually replace the respective provision by a new legal, valid and enforceable provision which comes closely to the intent and economic effect of the invalid provision. This also applies in case of contractual gaps.
You may cancel your Account at any time. If you do not use your Account for an extended period and remain inactive, as decided by Us, We reserve the right to cancel your Account and Account information stored in the Services may be made unavailable. To cancel your account email [_] with your primary email address or click on the account closure button from your profile and make sure all your funds have been withdrawn to the account that only belongs to You.
In case there is crypto currency balance that is too small to be withdrawn (crypto dust) You hereby waive the ownership or any current or future claims to Your remaining account balance and agree that this amount becomes the crypto dust.
We reserve the right, at Our sole discretion to modify, restrict, refuse, move, remove, disable or discontinue, entirely or in part, at any time and without prior notice, these Terms, the Services and content, including Client content, on the Platform. In all such cases, We will take account of the Clients' interests.
We will inform Our Clients on all material amendments to these Terms by publishing the updated version of these Terms on the Platform.
You consent to these Terms anew each time You use the Platform and are bound by them as currently published on the Website at the time of each use.