Terms of Service
Last updated: April 25th, 2021
PLEASE READ THESE TERMS OF SERVICE CAREFULLY. BY CLICKING THE "CREATE ACCOUNT" BUTTON OR BY ACCESSING OR USING THE SERVICES, YOU AGREE TO BE LEGALLY BOUND BY THESE TERMS OF SERVICE AND ALL TERMS INCORPORATED BY REFERENCE.
Summary of Terms of Service
This summary of our Terms of Service offers you an overview of the key terms that apply to your use of our website and trading services. While we hope this summary section is helpful, you should read the complete Terms of Service below since they provide important information about how our services work. Please note that we refer to our online service where you can execute trades at "Kasisx.com".
Kasisx.com provides you with a platform that matches your trades with open orders from other users of our services at your direction. Users are not able to predetermine a trade with a particular user or with a particular account. Additionally, an order may be partially filled or may be filled by multiple matching orders.
• Our Services
Kasisx.com provides you with a simple and convenient way to trade legal tender (such as U.S. dollars and Euros) for digital assets (such as bitcoins and ripples) and vice versa, and to trade one type of digital asset for another type of digital asset. You may also use our Services to purchase and sell digital assets directly from and to us. Our services do not provide users with the ability to trade one form of legal tender for another form of legal tender. Additionally, the range of services available to you will depend in part upon the country or U.S. state from which you access Kasisx.com.
• Eligibility and Acceptable Use
You must meet certain eligibility criteria to use Kasisx.com. For instance, you must be an adult over the age of 18 and there are certain locations from which you may not be able to use some or all of Kasisx.com. Additionally, there are certain things you cannot do when using Kasisx.com, such as engage in illegal activities, lie, or do anything that would cause damage to our services or systems. Please see the acceptable use section for more details.
• Trading Risks
Engaging in any trade can be financially risky, and there can be higher financial risks if you engage in any margin transactions, use any other sophisticated trading options, or trade in digital assets that are subject to volatile market price movements. Please don't use Kasisx.com if you do not understand these risks and enter into trades only when you understand the trading option you are using, the characteristics of the digital asset you intend to trade, and the potential financial risk of loss trading them entails.
• Other Important Legal Terms
There are important legal terms provided below in the complete Terms of Service, including your indemnification responsibilities, our limitation of liability and warranty disclaimers, and your agreement to arbitrate most disputes. Please take the time to read these terms carefully. You can always contact us through support if you have any questions at https://kasisx.com/contact
1. Complete Terms of Service
These Terms of Service and any terms expressly incorporated herein ("Terms") apply to your access to and use of the websites and mobile applications provided by Interkonnekxion Internet Café (Pty) Ltd and its wholly owned subsidiaries (collectively, "Interkon", " Kasisx.com", "we", or "us"), and the trading and direct sale services provided by Kasisx.com as described in these Terms (collectively, our "Services").
o Key Definitions
Capitalized terms not otherwise defined in these Terms will have the following meaning:
1. "External Account" means any Financial Account or Digital Asset Account: (i) from which you may load Funds into your Kasisx.com Account, and (ii) to which you may transfer Funds from your Kasisx.com Account.
2. "Financial Account" means any financial account of which you are the beneficial owner that is maintained by a third party outside of the Services, including, but not limited to third-party payment service accounts or accounts maintained by third party financial institutions.
3. "Funds" means Digital Asset and/or Legal Tender.
4. "Legal Tender" means any national currency, such as U.S. dollars, that may be used in connection with a purchase or sale of Digital Assets via the Services, and does not include any Digital Asset.
5. " Kasisx.com Account" means a user account accessible via the Services where Funds may be stored by Interkon on behalf of a user.
6. "Digital Asset" means bitcoins, ripples and other digital assets that may be purchased, sold or traded via the Services.
7. "Digital Asset Account" means any Digital Asset address or account owned, controlled or operated by you that is maintained outside of the Services, and is not owned, controlled or operated by Kasisx.com.
Kasisx.com may not make the Services available in all markets and jurisdictions, and may restrict or prohibit use of the Services from certain U.S. states or foreign jurisdictions ("Restricted Locations"). If you are registering to use the Services on behalf of a legal entity, you represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and (ii) you are duly authorized by such legal entity to act on its behalf.
You further represent and warrant that you: (a) are of legal age to form a binding contract (at least 18 years old in the U.S.); (b) have not previously been suspended or removed from using our Services; (c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party; (d) are not located in, under the control of, or a national or resident of (i) any Restricted Locations, or (ii) any country to which the United States has embargoed goods or services; (e) are not identified as a "Specially Designated National;" (f) are not placed on the Commerce Department’s Denied Persons List; and (g) will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.
3. Kasisx.com Account
1. Number of Kasisx.com Accounts. Kasisx.com may, in its sole discretion, limit the number of Kasisx.com Accounts that you may hold, maintain or acquire.
2. Kasisx.com Account information and security. In order to engage in any trades via the Services, you must create a Kasisx.com Account and provide any requested information. When you create a Kasisx.com Account, you agree to: (a) create a strong password that you do not use for any other website or online service; (b) provide accurate and truthful information; (c) maintain and promptly update your Kasisx.com Account information; (d) maintain the security of your Kasisx.com Account by protecting your password and restricting access to your Kasisx.com Account; (e) promptly notify us if you discover or otherwise suspect any security breaches related to your Kasisx.com Account; and (f) take responsibility for all activities that occur under your Kasisx.com Account and accept all risks of any authorized or unauthorized access to your Kasisx.com Account, to the maximum extent permitted by law.
5. General Obligations
This Section 5 applies to: (i) all trades completed via the Services, (ii) your purchase and/or sale of Digital Assets directly from Kasisx.com via the Services, and (iii) any transaction in which you load Funds into your Kasisx.com Account from your External Account or transfer Funds from your Kasisx.com Account into an External Account.
0. Conditions and Restrictions: We may, at any time and in our sole discretion, refuse any trade submitted via the Services, impose limits on the trade amount permitted via the Services or impose any other conditions or restrictions upon your use of the Services for funding your Kasisx.com Account or for trading without prior notice. For example, we may limit the number of open orders that you may establish via the Services or we may restrict trades from certain locations.
1. Accuracy of Information: You must provide any information required when creating a Kasisx.com Account or when prompted by any screen displayed within the Services. You represent and warrant that any information you provide via the Services is accurate and complete.
2. Cancellations: You may only cancel an order initiated via the Services if such cancellation occurs before Kasisx.com executes the transaction. Once your order has been executed, you may not change, withdraw or cancel your authorization for Kasisx.com to complete such transaction. If an order has been partially filled, you may cancel the unfilled remainder unless the order relates to a market trade. We reserve the right to refuse any cancellation request associated with a market order once you have submitted such order. In contrast to exchange orders, all trades are irreversible once initiated. While we may, at our sole discretion, reverse a trade under certain extraordinary conditions, a customer does not have a right to a reversal of a trade.
3. Insufficient Funds: If you have an insufficient amount of Funds in your Kasisx.com Account to complete an order via the Services, we may cancel the entire order or may fulfill a partial order using the amount of Funds currently available in your Kasisx.com Account, less any fees owed to Kasisx.com in connection with our execution of the trade (as described in Section 9).
4. Taxes: It is your responsibility to determine what, if any, taxes apply to the trades you complete via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that Kasisx.com is not responsible for determining whether taxes apply to your trades or for collecting, reporting, withholding or remitting any taxes arising from any trades.
6. Kasisx.com Account Funds
0. Funding your Kasisx.com Account: In order to complete an order or trade via the Services (as described in Section 7), you must first load Funds to your Kasisx.com Account using one of the approved External Accounts identified via the Services. You may be required to verify that you control the External Account that you use to load Funds to your Kasisx.com Account. As further described in Section 9, you may be charged fees by the External Account you use to fund your Kasisx.com Account. Kasisx.com is not responsible for any External Account fees or for the management and security of any External Account. You are solely responsible for your use of any External Account, and you agree to comply with all terms and conditions applicable to any External Account. The timing associated with a load transaction will depend in part upon the performance of third parties responsible for maintaining the applicable External Account, and Kasisx.com makes no guarantee regarding the amount of time it may take to load Funds into your Kasisx.com Account.
About Funds Held In Your Kasisx.com Account - Be advised that fiat funds held in your Kasisx.com account are exclusively for the purchase of Digital Assets or withdrawal to your approved External Account. Proceeds from the sale of Digital Assets will be credited to your fiat account, less any transactional or other fees. Furthermore, be advised that Kasisx.com does not pay interest on free fiat balances held in your account.
Digital Assets Only Accounts - If you have opened a Kasisx.com Account designated as Digital Assets Only, you may only fund your account with digital assets. Kasisx.com will not accept fiat to fund a Digital Assets Only Account. If fiat is transmitted to fund such an account, it will be returned to the sender, less applicable transfer fees.
1. Transferring Funds to an External Account: Provided that the balance of Funds in your Kasisx.com Account is greater than any minimum balance requirements needed to satisfy any of your open positions, and subject to the restrictions set forth in Section 7.8, you may transfer any amount of Funds, up to the total amount of Funds in your Kasisx.com Account in excess of such minimum balance requirements, from your Kasisx.com Account to an External Account, less any fees charged by Kasisx.com for such transactions (as described in the Fee Schedule at the time of your request to transfer Funds to an External Account).
2. Load/Transfer Authorization: When you request that we load Funds into your Kasisx.com Account from your External Account or request that we transfer Funds to your External Account from your Kasisx.com Account, you authorize Kasisx.com to execute such transaction via the Services.
3. Rejected Transactions: In some cases, the External Account may reject your Funds or may otherwise be unavailable to receive your Funds. You agree that you will not hold Kasisx.com liable for any damages resulting from such rejected transactions.
7. Exchange Orders and Trades
This Section applies only when you use the Services to trade Digital Assets for Legal Tender or vice versa, or to trade Digital Assets for another form of Digital Assets. Kasisx.com does not purchase, sell, or exchange any Digital Assets on its own behalf, except for trades conducted on behalf of South African users where Kasisx.com fulfills each order on a spot basis as the counterparty to both sides of the transaction.
0. Authorization: When you submit a new order via the Services, you authorize Kasisx.com to execute a transaction in accordance with such order on a spot basis and charge you any applicable fees (as described in Section 10).
1. Independent relationship: You acknowledge and agree that: (a) Kasisx.com is not acting as your broker, intermediary, agent, or advisor or in any fiduciary capacity, and (b) no communication or information provided to you by Kasisx.com shall be considered or construed as advice.
2. Trade confirmation: Once the Services execute your trade, a confirmation will be electronically made available via the Services detailing the particulars of the trade. You acknowledge and agree that the failure of the Services to provide such confirmation shall not prejudice or invalidate the terms of such trade.
3. Trade options: Please refer to the Trading Options, for information about the terminology used in connection with the trading options made available via the Services. If you do not understand the meaning of any trade option, we strongly encourage you not to utilize any of those options.
4. Market rates: If you select a market trade, Kasisx.com will attempt, on a commercially reasonable basis, to execute the trade on or close to the prevailing market exchange rate, as defined via the Services. You acknowledge and agree that the exchange rate information made available via our Services may differ from prevailing exchange rates made available via other sources outside of the Services.
5. Market volatility: Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any Digital Assets or Legal Tender, the actual market rate at which a market order or trade is executed may be different from the prevailing rate indicated via the Services at the time of your order or trade. You understand that we are not liable for any such price fluctuations. In the event of a market disruption or Force Majeure event (as defined in Section 24), Kasisx.com may do one or more of the following: (a) suspend access to the Services; or (b) prevent you from completing any actions via the Services, including closing any open positions. Following any such event, when trading resumes, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
6. Trade Settlement: Subject to the terms and conditions in these Terms, we will use commercially reasonable efforts to settle trades on a spot basis within two (2) days of the date upon which users have agreed to execute a trade via the Services.
7. Margin Transactions:
In accordance with and subject to this Section 7.8, as part of the Services you may receive from Kasisx.com extensions of margin in the form of Digital Assets or Legal Tender (“margin transactions”) to use to make spot purchases and sales of Digital Assets on the Kasisx.com exchange.
You acknowledge, represent, warrant and agree that, prior to receiving an extension of margin from Kasisx.com, you will have read our Margin Disclosure Statement, understand the risks involved with margin transactions, and have determined that purchasing and selling Digital Assets with the use of margin is appropriate for you.
Margin transactions on the Kasisx.com exchange are made available under the following terms:
1. Margin Account. Kasisx.com agrees to establish for your benefit and in your name a platform for you to receive Legal Tender and Digital Assets from Kasisx.com to make spot trades through your Kasisx.com Account (your “Margin Account”). Your Margin Account is a component of your Kasisx.com Account.
2. Margin Extensions and Trades.
2.1. Subject to the Terms, Kasisx.com agrees to provide to you, and you may obtain from and return to Kasisx.com from time to time, Funds to support spot transactions (each such provision of Funds, a “Margin Extension”). No Margin Extension will occur unless you meet or exceed any minimum balance requirements imposed by Kasisx.com for your Margin Account. Moreover, notwithstanding anything to the contrary herein, Kasisx.com is under no obligation to make any Margin Extensions to you and may decline a request to initiate a Margin Extension in its sole discretion.
2.2. When you use a Margin Extension to effectuate a spot transaction, you are entering into a spot Digital Asset purchase or sale transaction with one or more third-party trader(s) on the Kasisx.com exchange (each a “Counterparty”). For example, you might use a U.S. dollar Margin Extension from Kasisx.com to buy bitcoin from a Counterparty. In executing such spot transactions, Kasisx.com facilitates the transfer of ownership of the applicable Funds from the Counterparty to you (such Funds -- e.g., the bitcoin in the preceding example -- “Received Assets”) by registering you as the owner of the Received Assets on Kasisx.com’s internal book-entry system.
3. Received Assets: All Received Assets are custodial assets held by Kasisx.com for your benefit, as described in further detail below:
3.1. Ownership: Title to Received Assets shall at all times remain with you and shall not transfer to Kasisx.com, except as provided herein. As the owner of the Received Assets in your Kasisx.com Account, you bear all risk of loss of such Received Assets. None of the Received Assets in your Kasisx.com Account are the property of Kasisx.com. Kasisx.com does not represent or treat Received Assets in your Kasisx.com Account as belonging to Kasisx.com. Except as required by a facially valid court order, or except as provided herein, Kasisx.com will not sell, transfer, loan, hypothecate or otherwise alienate Received Assets in your Kasisx.com Account unless instructed by you or as otherwise authorized by these Terms. For the avoidance of doubt, and notwithstanding the foregoing or Section 22.214.171.124, Kasisx.com makes no warranty that Digital Assets in your Kasisx.com Account (including Received Assets) are held by you free and clear of any security interest or other lien or encumbrance.
3.2. Control: You control the Received Assets held in your Kasisx.com Account. At any time, subject to outages, downtime, and other applicable policies and the restrictions described in Section 7.8.4, you may withdraw your Received Assets by transferring them to an External Account.
4. Terminating Margin Extensions: To terminate a Margin Extension, you must transfer sufficient Funds from your Kasisx.com Account to Kasisx.com through the Services. The Funds you use to terminate a Margin Extension must be the same asset type as the denomination of the Margin Extension (for example, you must terminate a bitcoin-denominated Margin Extension by transferring bitcoin from your Kasisx.com Account to Kasisx.com through the Services). You may terminate a Margin Extension by either: (i) directing immediately available Funds in your Kasisx.com Account to Kasisx.com; or (ii) selling requisite Collateral Assets (as defined below) or other assets in your Kasisx.com Account on the Kasisx.com exchange and applying the proceeds to the termination of the corresponding Margin Extension. Prior to satisfying the corresponding Margin Extension pursuant to the preceding sentence, Received Assets and requisite Collateral Assets may not be otherwise transferred to an External Account or traded on the Kasisx.com exchange.
5. Restrictions on your Kasisx.com Account subject to satisfaction of your Margin Extension obligations:
5.1. You agree to maintain in your Kasisx.com Account, at all times during the term of a Margin Extension, a specified minimum amount of Funds approved by Kasisx.com to qualify as collateral ("Collateral Assets"). This minimum amount of Collateral Assets (the "Maintenance Margin Requirement"). This minimum amount of Collateral Assets (the “Maintenance Margin Requirement”) will be defined through the Services and you will be notified of any changes to the Maintenance Margin Requirement prior to those changes taking effect. Such notice shall indicate the effective date for those changes.
5.2. A list of assets approved by Kasisx.com to be eligible as Collateral Assets will be defined through the Services and certain Digital Assets may only be valued as collateral on a discounted basis. You will be notified of any changes to the list of eligible Collateral Assets or discounts applied to the valuation thereof prior to those changes taking effect. Such notice shall indicate the effective date for those changes.
5.3. For purposes of calculating your compliance with the Maintenance Margin Requirement, Kasisx.com will calculate (subject to any discounts) the market value of Collateral Assets on a continuous basis based on the prevailing value of each Digital Asset on one or more Digital Asset exchanges, including those operated by Interkon. Kasisx.com has discretion to select Digital Asset exchanges for purposes of calculating this market value that Kasisx.com, in its reasonable judgment, believes offer a reasonable valuation of a Digital Asset.
5.4. You hereby authorize and instruct Kasisx.com, in the event the value of your Collateral Assets falls below the Maintenance Margin Requirement, to, without further notice to you: (a) place a market order on the Kasisx.com exchange, on your behalf, to sell your Received Assets and apply the proceeds towards terminating your Margin Extension(s); and/or (b) liquidate such other Funds in your account in the manner and amount practicable, in Kasisx.com’s reasonable discretion, to terminate the Margin Extension either in full, or in an amount sufficient, in Kasisx.com’s reasonable discretion, to restore the value of your Collateral Assets to an amount equal to or exceeding the Maintenance Margin Requirement.
6. Margin Obligation Period. If you are located in or a national or resident of the United States, each separate Margin Extension under these Terms is due and must be terminated on or before the 28th day after the Margin Extension is made; in all other cases, each separate Margin Extension under these Terms is due and must be terminated on or before the 365th day after the Margin Extension is made (each such 28- or 365-day period, as applicable, the “Margin Obligation Period”). The Margin Obligation Period is fixed and cannot be extended. We are not required to contact you prior to the expiration of the Margin Obligation Period. You hereby authorize and instruct Kasisx.com, in the event you do not terminate your Margin Extension in full prior to the expiration of the Margin Obligation Period, to, without further notice to you: (a) place a market order on the Kasisx.com exchange, on your behalf, to sell your Received Assets and apply the proceeds to the termination of the Margin Extension; and/or (b) liquidate such other Funds in your account, in the manner and amount practicable, in Kasisx.com’s reasonable discretion, to terminate the Margin Extension in full.
7. Payment of Fees; Default.
7.1. Fees charged on and in connection with any Margin Extension shall be at the applicable rates and methods of computation specified in the Fee Schedule (the “Margin Fees”). If at any time and for any reason, the Margin Fees on any Margin Extension made under these Terms exceeds the maximum rates permitted to be charged by Kasisx.com to you under applicable law, the parties hereto agree that the Margin Fees shall be reduced automatically to the maximum rates permitted to be charged under applicable law.
7.2. Upon your failure to satisfy the Maintenance Margin Requirement, to make any payment of fees, including Margin Fees, when due or to terminate a Margin Extension when required, or upon otherwise materially breaching this Section 7.8, your Margin Extensions shall be immediately due and must be terminated (and any accrued and unpaid fees thereon and any fees and costs of collection must be paid) and, to the extent permitted by applicable law and in addition to any other remedies available to it, Kasisx.com, in its sole discretion, may apply the proceeds from the sale of any Digital Assets in your Margin Account, whether such Digital Assets are considered Collateral Assets as defined in the Terms or not, first to the payment of any outstanding fees, commissions, charges or other expenses then due to Kasisx.com, and then to the termination of your Margin Extensions. If your Kasisx.com Account balance becomes negative, you agree to pay the amount of Funds owed to Kasisx.com within 48 hours. You may not trade on a negative Kasisx.com Account.
8. Risk Disclosure
8.1. Trading risks. You acknowledge and agree that you shall access and use the Services at your own risk. The risk of loss in trading Digital Asset pairs and Digital Asset and Legal Tender pairs can be substantial. You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should be aware of the following points:
8.1.1. You may sustain a total loss of the Funds in your Kasisx.com Account, and, in some cases, you may incur losses beyond such Funds.
8.1.2. Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, when the market reaches a daily price fluctuation limit or there is insufficient liquidity in the market.
8.1.3. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.
8.1.4. All Digital Asset positions involve risk, and a "spread" position may not be less risky than an outright "long" or "short" position.
8.1.5. The use of leverage can work against you as well as for you and can lead to large losses as well as gains. Refer to our Margin Disclosure Statement for more information about the unique and specific risks involved with margin transactions.)
ALL OF THE POINTS NOTED ABOVE APPLY TO ALL DIGITAL ASSET PAIR AND DIGITAL ASSET AND LEGAL TENDER PAIR TRADING. THIS BRIEF STATEMENT CANNOT, OF COURSE, DISCLOSE ALL THE RISKS AND OTHER ASPECTS ASSOCIATED WITH THESE TRADES.
8.1.6. Internet transmission risks. You acknowledge that there are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that Kasisx.com shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when trading via the Services, however caused.
9. Digital Asset Terms of Sale
This Section applies only when you use the Services to purchase or sell Digital Assets directly from Kasisx.com, a service available in limited jurisdictions only.
9.1. Prices; Availability: All prices reflect the exchange rates applicable to the purchase or sale of Digital Assets using the Legal Tender or alternative form of Digital Assets identified in your purchase order. All Digital Asset sales and purchases by Kasisx.com are subject to availability, and we reserve the right to discontinue the sale and purchase of Digital Assets without notice.
9.2. Purchase Quotes: Prior to completing your purchase or sale of Digital Assets from Kasisx.com, we will provide notice of the amount of Digital Assets you intend to purchase or sell and the amount of Funds you will be required to pay to Kasisx.com to receive such Digital Assets or Legal Tender. You agree to comply with any terms and conditions provided within such notice to complete your purchase transaction.
9.3. Errors: In the event of an error, whether via our Services, in a purchase order confirmation, in processing your purchase, or otherwise, we reserve the right to correct such error and revise your purchase transaction accordingly (including charging the correct price) or to cancel the purchase and refund any amount received. Your sole remedy in the event of an error is to cancel your purchase order and obtain a refund of any amount charged.
9.4. Payment Method: Only valid payment methods specified by us may be used to purchase Digital Assets. By placing an order to purchase Digital Assets from Kasisx.com, you represent and warrant that (a) you are authorized to use the designated payment method and (b) you authorize us, or our payment processor, to charge your designated payment method. If the payment method you designate cannot be verified, is invalid or is otherwise not acceptable, your purchase order may be suspended or cancelled automatically. You agree to resolve any problems we encounter in order to proceed with your purchase order.
9.5. No Returns or Refunds: All sales and purchases of Digital Assets by Kasisx.com via the Services are final. We do not accept any returns or provide refunds for your purchase of Digital Assets from Kasisx.com, except as otherwise provided in these Terms.
10.1. Amount of Fees. In addition to the fees specified in Section 7.8.7, you agree to pay Interkon the fees for trades completed via our Services ("Fees") as made available via the Fees and Pair Info ("Fee Schedule"), which we may change from time to time. Changes to the Fee Schedule are effective as of the effective date indicated in the posting of the revised Fee Schedule to the Services, and will apply prospectively to any trades that take place following the effective date of such revised Fee Schedule.
10.2. Third-Party Fees. In addition to the Fees, your External Account may impose fees in connection with your use of your designated External Account via the Services. Any fees imposed by your External Account provider will not be reflected on the transaction screens containing information regarding applicable Fees. You are solely responsible for paying any fees imposed by an External Account provider.
10.3. Payment of Fees. You authorize us, or our designated payment processor, to charge or deduct your Kasisx.com Account Funds for any applicable Fees owed in connection with trades you complete via the Services.
10.4. Collection-Related Costs. If you fail to pay Fees or any other amounts owed to Kasisx.com under these Terms and Kasisx.com refers your account(s) to a third party for collection, then Kasisx.com will charge you the lesser of an 18% collection fee or the maximum percentage permitted by applicable law, to cover Kasisx.com 's collection-related costs.
11. Electronic Notices
11.1. Consent to Electronic Delivery. You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, "Communications") that Kasisx.com provides in connection with your Kasisx.com Account and/or use of the Kasisx.com Services. You agree that Kasisx.com may provide these Communications to you by posting them via the Services, by emailing them to you at the email address you provide, and/or by sending an SMS or text message to a mobile phone number that you provide. Your carrier's normal, messaging, data and other rates and fees may apply to any mobile Communications. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy. You may also contact us through support https://kasisx.com/contact to request additional electronic copies of Communications or, for a fee, paper copies of Communications (as described below).
11.2. Hardware and Software Requirements. In order to access and retain electronic Communications, you will need a computer with an Internet connection that has a current web browser with cookies enabled and 128-bit encryption. You will also need to have a valid email address on file with Kasisx.com and have sufficient storage space to save past Communications or an installed printer to print them.
11.3. Withdrawal of Consent. You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support https://kasisx.com/contact. If you decline or withdraw consent to receive electronic Communications, Kasisx.com may suspend or terminate your use of the Services. Unsubscribe requests submitted here may take up to 10 business days to process.
11.4. Requesting Paper Copies. If, after you consent to receive Communications electronically, you would like a paper copy of a Communication we previously sent you, you may request a copy within 30 days after the date we provided the Communication to you by contacting support https://kasisx.com/contact. In order for us to send paper copies to you, you must have a current street address on file with Kasisx.com. Please note that Kasisx.com operates exclusively online and it is very burdensome for us to produce paper copies of Communications. Therefore, if you request paper copies, you understand and agree that Kasisx.com may charge you a processing fee, in the amount described in the Fee Schedule, for each page of Communication requested.
11.5. Updating Contact Information. It is your responsibility to keep your email address and/or mobile phone number on file with Kasisx.com up to date so that Kasisx.com can communicate with you electronically. You understand and agree that if Kasisx.com sends you an electronic Communication but you do not receive it because your email address or mobile phone number on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Kasisx.com will be deemed to have provided the Communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add Kasisx.com to your email address book so that you will be able to receive the Communications we send to you. You can update your email address, mobile phone number or street address at any time by logging into your Kasisx.com Account or by sending such information to support https://kasisx.com/contact. If your email address or mobile phone number becomes invalid such that electronic Communications sent to you by Kasisx.com are returned, Kasisx.com may deem your account to be inactive, and you may not be able to complete any transaction via our Services until we receive a valid, working email address or mobile phone number from you.
12. Unclaimed Property
If for any reason Kasisx.com is holding Funds in your Kasisx.com Account on your behalf, and Kasisx.com is unable to return your Funds to your designated External Account after a period of inactivity, then Kasisx.com may report and remit such Funds in accordance with applicable state unclaimed property laws.
13. ACCEPTABLE USE
When accessing or using the Services, you agree that you will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Services. Without limiting the generality of the foregoing, you agree that you will not:
o Use our Services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;
o Use our Services to pay for, support or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or other illegal activities;
o Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access our Services or to extract data;
o Use or attempt to use another user's account without authorization;
o Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
o Develop any third-party applications that interact with our Services without our prior written consent;
o Provide false, inaccurate, or misleading information; and
o Encourage or induce any third party to engage in any of the activities prohibited under this Section.
We will own exclusive rights, including all intellectual property rights, to any feedback, suggestions, ideas or other information or materials regarding Kasisx.com or our Services that you provide, whether by email, posting through our Services or otherwise ("Feedback"). Any Feedback you submit is non-confidential and shall become the sole property of Kasisx.com. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to the Feedback (including any copyrights or moral rights). Do not send us Feedback if you expect to be paid or want to continue to own or claim rights in them; your idea might be great, but we may have already had the same or a similar idea and we do not want disputes. We also have the right to disclose your identity to any third party who is claiming that any content posted by you constitutes a violation of their intellectual property rights, or of their right to privacy. We have the right to remove any posting you make on our website if, in our opinion, your post does not comply with the content standards set out in this section.
9. Copyrights and Other Intellectual Property Rights
Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on our website or provided in connection with the Services, including, without limitation, the Kasisx.com or Interkon logo and all designs, text, graphics, pictures, information, data, software, sound files, other files and the selection and arrangement thereof (collectively, " Kasisx.com Materials") are the proprietary property of Kasisx.com or our licensors or suppliers and are protected by South African and international copyright laws and other intellectual property rights laws.
We hereby grant you a limited, nonexclusive and non-sublicensable license to access and use the Kasisx.com Materials for your personal or internal business use. Such license is subject to these Terms and does not permit (a) any resale of the Kasisx.com Materials; (b) modifying or otherwise making any derivative uses of the Kasisx.com Materials, or any portion thereof; or (d) any use of the Kasisx.com Materials other than for their intended purposes. The license granted under this Section will automatically terminate if we suspend or terminate your access to the Services.
" Kasisx.com," "Interkon," the Kasisx.com logo, the Interkon logo and any other Interkon product or service names, logos or slogans that may appear on our Services are trademarks of Interkon, in the United States and in other countries, and may not be copied, imitated or used, in whole or in part, without our prior written permission. You may not use any trademark, product or service name of Kasisx.com without our prior written permission, including without limitation any metatags or other "hidden text" utilizing any trademark, product or service name of Kasisx.com. In addition, the look and feel of our Services, including all page headers, custom graphics, button icons and scripts, is the service mark, trademark and/or trade dress of Kasisx.com and may not be copied, imitated or used, in whole or in part, without our prior written permission. All other trademarks, registered trademarks, product names and company names or logos mentioned through our Services are the property of their respective owners. Reference to any products, services, processes or other information, by name, trademark, manufacturer, supplier or otherwise does not constitute or imply endorsement, sponsorship or recommendation by us.
11. Third-Party Content
In using our Services, you may view content provided by third parties, including links to web pages of such parties, including but not limited to Facebook and Twitter links ("Third-Party Content"). We do not control, endorse or adopt any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any kind incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.
12. Suspension; Termination
In the event of any Force Majeure Event (as defined in Section 24.5), breach of these Terms, or any other event that would make provision of the Services commercially unreasonable for Interkon, we may, in our discretion and without liability to you, with or without prior notice, suspend your access to all or a portion of our Services. We may terminate your access to the Services in our sole discretion, immediately and without prior notice, and delete or deactivate your Kasisx.com Account and all related information and files in such account without liability to you, including, for instance, in the event that you breach any term of these Terms. In the event of termination, Interkon will attempt to return any Funds stored in your Kasisx.com Account not otherwise owed to Interkon, unless Interkon believes you have committed fraud, negligence or other misconduct.
13. Discontinuance of Services
We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services.
14. Disclaimer of Warranties
EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY US, OUR SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.
YOU ACKNOWLEDGE THAT INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES MAY BECOME IRRETRIEVABLY LOST OR CORRUPTED OR TEMPORARILY UNAVAILABLE DUE TO A VARIETY OF CAUSES, INCLUDING SOFTWARE FAILURES, PROTOCOL CHANGES BY THIRD PARTY PROVIDERS, INTERNET OUTAGES, FORCE MAJEURE EVENT OR OTHER DISASTERS INCLUDING THIRD PARTY DDOS ATTACKS, SCHEDULED OR UNSCHEDULED MAINTENANCE, OR OTHER CAUSES EITHER WITHIN OR OUTSIDE OUR CONTROL. YOU ARE SOLELY RESPONSIBLE FOR BACKING UP AND MAINTAINING DUPLICATE COPIES OF ANY INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES.
Some jurisdictions do not allow the disclaimer of implied terms in contracts with consumers, so some or all of the disclaimers in this section may not apply to you.
15. Limitation of Liability
(a) EXCEPT AS OTHERWISE REQUIRED BY LAW, IN NO EVENT SHALL Interkon, OUR DIRECTORS, MEMBERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES OR THE Interkon MATERIALS, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM Interkon, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO Interkon’s RECORDS, PROGRAMS OR SERVICES.
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the limitations of this section may not apply to you.
(b) TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF Interkon (INCLUDING OUR DIRECTORS, MEMBERS, EMPLOYEES AND AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, Kasisx.com OR TO THESE TERMS EXCEED THE FEES PAID BY YOU TO Kasisx.com DURING THE 12 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.
You agree to defend, indemnify and hold harmless Interkon (and each of our officers, directors, members, employees, agents and affiliates) from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out of or relating to (a) your use of, or conduct in connection with, our Services; (b) any Feedback you provide; (c) your violation of these Terms; or (d) your violation of any rights of any other person or entity. If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it.
17. Applicable Law; Arbitration
PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH US AND IT LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF.
You and Interkon agree to arbitrate any dispute arising from these Terms or your use of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL. You and Interkon agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Interkon shall be sent to email@example.com. You and Interkon further agree: (a) to attempt informal resolution prior to any demand for arbitration; (b) that any arbitration will occur in South Africa; (c) that arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of arbitration of the Republic of South Africa; and (d) that the state or courts in South Africa have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws of the Republic of South Africa, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction. Whether the dispute is heard in arbitration or in court, you and Interkon will not commence against the other a class action, class arbitration or representative action or proceeding.
0. Entire Agreement; Order of Precedence: These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services. These Terms do not alter the terms or conditions of any other electronic or written agreement you may have with Interkon for the Services or for any other Interkon product or service or otherwise. In the event of any conflict between these Terms and any other agreement you may have with Interkon, the terms of that other agreement will control only if these Terms are specifically identified and declared to be overridden by such other agreement.
1. Amendment: We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion. If we make changes to these Terms, we will provide you with notice of such changes, such as by sending an email, providing notice on the homepage of the Site and/or by posting the amended Terms via the applicable Interkon websites and mobile applications and updating the "Last Updated" date at the top of these Terms. The amended Terms will be deemed effective immediately upon posting for any new users of the Services. In all other cases, the amended Terms will become effective for pre-existing users upon the earlier of either: (i) the date users click or press a button to accept such changes, or (ii) continued use of our Services 30 days after Interkon provides notice of such changes. Any amended Terms will apply prospectively to use of the Services after such changes become effective. If you do not agree to any amended Terms, you must discontinue using our Services and contact us to terminate your account.
2. Waiver: Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.
3. Severability: The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.
4. Force Majeure Events: Interkon shall not be liable for (1) any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information; (2) any loss or damage arising from any event beyond Interkon's reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labour dispute, accident, action of government, communications, power failure, or equipment or software malfunction or any other cause beyond Interkon's reasonable control (each, a "Force Majeure Event").
5. Assignment: You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from Interkon, including by operation of law or in connection with any change of control. Interkon may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.
6. Headings: Headings of sections are for convenience only and shall not be used to limit or construe such sections.
7. Survival: Sections 2 (Eligibility), Section 3 (Kasisx.com Account), 8 (Risk Disclosure), 10 (Fees), 12 (Unclaimed Property), 14 (Feedback), 15 (Copyrights), 16 (Trademarks), 17 (Third-Party Content), 20 (Disclaimer of Warranties), 21 (Limitation of Liability); 22 (Indemnity), 23 (Applicable Law; Arbitration) and this Section 24 (Miscellaneous) shall survive any termination or expiration of these Terms.
19. Jurisdiction-specific Legal Disclosures
Kraken maintains licenses and registrations in certain jurisdictions to provide you our Services. These licenses or registrations may impact our provision and your use of our services depending on where you live or are domiciled. Information regarding certain of Kasisx.com’s licenses and registrations, or lack thereof, and corresponding disclosures can be found on the Kasisx.com Legal Disclosure page, which is incorporated into these Terms by reference. By creating a Kasisx.com account, you acknowledge that you have read, understand and agree to those disclosures that are applicable to you.
Margin Disclosure Statement
We are furnishing this document to you to provide some basic facts about purchasing digital assets or legal tender on margin, and to alert you to the risks involved with trading assets in a margin account. Before trading assets in a margin account, you should carefully review this margin disclosure statement. Please contact us through support https://kasisx.com/contact regarding any questions or concerns you may have with your margin accounts.
When you purchase digital assets for legal tender or vice versa, you may pay in full with your own funds or by posting assets in your account as collateral, with funds provided by Interkon to you pursuant to an extension of margin. If the collateral supporting your extension of margin declines in value by an amount specified by Interkon, you authorize Interkon to issue a margin call and/or sell assets in your account, in order to maintain equity in the account that meets or exceeds the minimum maintenance margin requirement.
It is important that you fully understand the unique risks involved in trading assets using extensions of margin before determining whether such trading is appropriate for you. These risks include the following:
• Using margin to support spot transactions poses a high degree of financial risk and is not suitable for everyone. The use of leverage can work against you as well as for you and can lead to large losses as well as gains. You should examine your financial objectives, financial resources and risk tolerance to determine whether receiving extensions of margin secured by the assets in your Kasisx.com Account is appropriate for you.
• You can rapidly lose all of the funds you deposit for trading and may lose more funds than you deposit in your Kasisx.com account. The prices of digital assets are highly volatile and a decline in the value of assets that are purchased or sold on margin may require you to provide additional funds to us, on short notice or with no notice, to avoid the automatic liquidation of assets in your account(s).
• You authorize us to sell assets in your account without further notice to you. If the equity in your account falls below our maintenance margin requirements, you authorize Interkon to sell assets in your account to cover the margin deficiency. You will be responsible for any shortfall in the account after such a sale. As Digital Asset markets are open 24 hours a day, 7 days a week, margin calls and liquidations may occur at any time, including outside of normal business hours.
• You authorize us to sell your assets without contacting you. Do not mistakenly believe that we must contact you for a margin call to be valid, and that we may not liquidate assets in your account unless we have contacted you first. This is not the case. We will attempt to notify you of margin calls, but we are not required to do so. Moreover, even if we have contacted you and provided a specific date by which you must meet a margin call, we may still immediately sell assets in your account without notice to you and without waiting for the specific date to meet a margin call.
• We can increase maintenance margin requirements with advance notice. The maintenance margin requirements may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause us to liquidate or sell assets in your account(s). We are not responsible for delays in the release of funds intended to satisfy the call, including but not limited to internal holds on funds exceeding verification limits, delays in the transfer of funds from external accounts maintained by third-party financial institutions, and failure of proper routing of funds through financial networks. The funds will not count towards meeting the maintenance margin requirements until the funds are released.
• You are not entitled to an extension of time on a margin call. While Kasisx.com might grant you an extension of time to meet margin requirements under certain conditions, you do not have a right to the extension.
• Customers with accounts registered in the United States are limited to a 28-day maximum term for maintaining open margin positions. You are expected to keep track of your margin positions and fully settle the positions (or otherwise terminate the margin extension related to the margin positions) within 28 days. The 28-day term is fixed and cannot be extended. If you do not terminate the margin extension within the 28-day period, you authorize and instruct us to, without further notice to you, either (a) sell your margined assets and apply the proceeds to the termination of the margin extension and/or (b) liquidate other assets in your account, in the manner and amount we deem reasonable practicable in order to terminate your margin extension in full.