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Retour aux Termes et conditions
Valid from: 2020-07-01

SpectroCoin Loans General Terms and Conditions

Thank you for choosing SpectroCoin Loans. Your use of our Services is subject to the General Terms and Conditions.

  1. Interpretation and Definitions

    1. In these Terms and all documents incorporated herein by reference, the following words have the following meanings unless otherwise indicated:
      • AML” means Anti-Money Laundering and Counter Terrorism Financing;
      • Associates” means the Lender and each and every one of its respective shareholders, subsidiaries, employees, contractors, agents, directors, officers, partners, affiliates, insurers, advisors, service providers, attorneys, licensors and successors;
      • SpectroCoin Loans”, “Services” means crypto-backed loans granted by the Lender to the Borrower, according to the Loan agreement conditions;
      • Borrower”, “Customer”, “you” means the corporate (such as association, partnership, corporation, other body corporate, trust, and any form of legal organization or entity, etc.) or natural person (non-consumer) willing to engage in receiving crypto-backed loans;
      • Collateral” means acceptable Virtual Currency which Borrower and Lender agrees in the Loan Agreement as acceptable collateral to pledge for a SpectroCoin Loan and/or any payment under the Loan Agreement which is or shall be transferred to the disposition of the Lender.
      • Force Majeure Events” means any event beyond the Lender’s reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction or any other cause beyond Lender’s reasonable control (each, a “Force Majeure Event”);
      • Fiat Currency” means any currency that a government has declared to be legal tender such as EUR, USD, etc.;
      • Fiat Wallet” means functionality of the Platform, allowing to serve the Loan only with Fiat Currency (EUR or any other fiat currency if allowed by us) as described further in these Terms;
      • Lender”, “we” means BNK Operations, L.P., a partnership registered under the laws of the British Virgin Islands on 27 February 2019 with registered number 1773 and whose registered office is at Craigmuir Chambers, PO Box 71, Road Town, Tortola VG1110, British Virgin Islands, represented by its general partner BNK GP Ltd., a company incorporated under the laws of the British Virgin Islands with registered number 2006723, which administers the Site and grants the SpectroCoin Loans in Fiat Currency or BNK Solutions, L.P., a partnership registered under the laws of the British Virgin Islands on 9 December 2019 with registered number 1914 and whose registered office is at Craigmuir Chambers, PO Box 71, Road Town, Tortola VG1110, British Virgin Islands, represented by its general partner BNK GP Ltd., a company incorporated under the laws of the British Virgin Islands with registered number 2006723, which grants the SpectroCoin Loans in Virtual Currency; Your Lender shall be indicated in the special conditions of your Loan agreement;
      • Loan Agreement” means agreement which is concluded between the Borrower and the Lender in order to formalise parties’ engagement in SpectroCoin Loans services;
      • Party”, “Parties” means the Borrower or the Lender itself or both of them;
      • Prohibited Jurisdictions” means: (i) any country which is subject to international sanctions; or (ii) any country where Virtual Currency or blockchain technology are prohibited, or the Platform does not meet the legal requirements of the country; (iii) Non - Supported Countries. A Prohibited jurisdiction will include the specific country and all of its states, territories in or under the laws of the country;
      • Prohibited Use” has the meaning set out in the Acceptable Use Statement, which is available on the Site;
      • Site” or “Platform” means digital crypto-currency backed loan platform “SpectroCoin Loans”, developed and maintained by us and our partners. Platform is available at https://spectrocoin.com/en/crypto-loans/app or through the apps, if decided by us; Under this definition also falls any associated websites, which are relevant to the provision of Services;
      • Non-Supported Countries“ means any country which is not supported by the Lender due to current legislation, representative authorities publications, the Lender’s business practice, etc., wherein all or upon the Lender’s decision only part of the Services are available;
      • Terms” means these General Terms and Conditions including all documents and information, incorporated into these Terms by reference, as described in the Terms;
      • Virtual Currency” means any virtual currency, cryptographic coin or token or any other type of assets recorded in digital form and enabled by the use of cryptography, which is allowed on the Site such as BTC, ETH, etc.;
      • Virtual Currency system” means any functionality, which allows to access Virtual Currency; It includes but is not limited to such features as wallets, blockchain technological solutions etc.
      • Wallet” means Borrower’s digital wallet on the Platform, allowing to serve the SpectroCoin Loan only with Virtual Currency as described further in these Terms.
    2. The headings and subheadings in these Terms are for ease of reference only and are not to be taken into account in the construction or interpretation of any provision or provisions to which they refer.
    3. Unless otherwise specified in these Terms, words importing the singular include the plural and vice versa and words importing gender include all genders.
  2. Scope of Terms

    1. These Terms together with other documents provided by the Lender as Annexes hereto or separately in the site, such as, Cookie Policy, Privacy Policy, Acceptable Use Statement or Risk Warning Statement, or any other additional agreement or our technical requirements, statements, guidelines or principles, including all updates of these documents and the information are integral parts of the Terms and together constitute one document, which regulates the use of the Services and governs the relationship between you and the Lender.
    2. Depending on your jurisdiction and law of your jurisdiction, you may not be able to use the Services. The Lender reserves the right to solely select its markets and jurisdictions to operate and may restrict or deny its Services to certain countries and jurisdictions.
    3. Services allow you to get the SpectroCoin Loans if you meet the conditions specified in the Loan Agreement. The Lender remains the right at its own discretion add new Services or terminate the existing ones, as well as, amend terms of the Services, add or remove them at any time at its sole discretion. Where required, you will be given advance notification of such changes.
    4. The Lender provides you with the Platform as a mean of access to the Services. However, certain Services which are accessible through the Platform can be facilitated by our partners and this will not constitute the breach of these Terms. Where necessary, you will be informed of this and asked to read and/or agree to any additional terms and conditions related to such Services.
    5. You are solely responsible for following and identifying the requirements and being in compliance with the laws in your jurisdiction and all other laws or regulations applicable under your jurisdiction and/or jurisdiction from which you access the Site and/or the Services. The Services are not directed at or to be distributed to any persons domiciled under any jurisdiction where all or part of the Services may be contrary to local laws or regulations.
    6. If using the Site and/or the Services is not legal in your country (whether you are a citizen, a resident or a tax resident) you oblige not to use the Site and/or the Services. Failure to comply with the local laws may result in the loss of your account and any assets contained within.
    7. These Terms are only binding to the rights and obligations between you and the Lender, and do not involve legal relations and legal disputes arising from and relating to transactions of Virtual Currencies between the users of the Platform, and between other websites and you.
  3. Eligibility

    1. Use of the Platform and/or the Services is limited to persons that are 18 years old or older and have full legal capacity to lawfully enter into and form contracts under applicable law.
    2. The use of the Site and the Services is void where prohibited by law.
    3. Prohibited Jurisdictions are specifically excluded from these Terms, therefore, the Site and Services are not offered to citizens, residents and tax residents (including their beneficiaries) of the Prohibited Jurisdictions. You are prohibited from using the Site and the Services if you are a citizen, a resident and/or a tax resident of the Prohibited Jurisdictions, any created or organized entity, including, without limitation, any company, corporation or partnership located or domiciled in the Prohibited Jurisdiction.
    4. Additionally, the following persons (including their beneficiaries) cannot use the Site and the Services and, therefore, become the Customers:
      1. persons that are on any trade, financial or economic sanctions lists;
      2. persons that intend to use the Site and the Services for any illegal activity, including, but not limited to, money laundering and the financing of terrorism;
      3. persons that fail to meet required due diligence standards, requests or requirements of the Lender and/or are deemed high risk by the Lender according to criteria established at the sole discretion of the Lender;
      4. persons that have previously been rejected or deleted from using the Platform and the Services and/or violated these Terms;
      5. persons that do not follow the laws and regulations in their jurisdiction regarding usage of the Site and the Services.
    5. By accessing and using the Site and any of the Services, you acknowledge, declare and expressly represent and warrant that none of the aforementioned circumstances of eligibility is applicable to you.
    6. We consider some businesses to pose more risks to us than others; therefore, we may require that you obtain our express prior approval before using the Services if you operate or are engaged in any of such businesses. Please read the Acceptable Use Statement, available on Site, to find out which businesses require our prior approval and follow the instructions provided therein. This will apply to you equally whether you are a private person or a legal entity.
    7. We do not provide our Services to the Customers operating or engaged in certain businesses. Please read the Acceptable Use Statement, available on Site, to find out which businesses are prohibited from using Services. Please do not create SpectroCoin Loans accounts if you operate or are engaged in such businesses. If we detect that you have violated this prohibition, we will at our sole discretion and without any prior notice close your account and, where necessary, freeze your funds and report this to the authorities. This will apply to you equally whether you are a private person or a legal entity.
    8. Lender reserves the right to refuse registration or the commencement of relationship with you under these Terms without reason. You acknowledge and agree that it is at our sole discretion whether to provide you with any or all of the Services.
  4. Acceptance and Changes to Terms of Service

    1. Your access to and use of the Site and/or any Services is subject exclusively to these Terms. By registering to and using the Site and/or the Services, you acknowledge that you have read, understood, and completely and unconditionally agree to be bound by and accept these Terms, including all documents and information, incorporated into these Terms by reference as described in Clause 2.1. We recommend that you store or print-off a copy of these Terms (including all related documents and information) for your records.
    2. In the event of any inconsistency between these Terms and any other document or information indicated in Clause 2.1., these Terms will prevail.
    3. You understand and agree that you are free to choose whether to use the Site and/or the Services and do so at your sole option, discretion and risk. However, if you disagree with these Terms or individual provisions of the Terms and/or with any subsequent amendments, changes, or updates, you cannot use the Site and any of the Services; your only recourse in the case of disagreement is to stop using the Site and all of the Services.
    4. These Terms come into effect at the moment you enter the Site. Terms apply and you agree with them if you use the Site and/or the Services (any services, functions or features both collectively and individually) available through the Site.
    5. The Lender may change, amend, update, delete or add to these Terms or any of the terms and conditions contained in any policies or rules governing the Site and/or the Services at any time and in its sole discretion. In particular, please note that all transactions on the Platform may be subject to fees received by the Lender or third parties and could be changed solely at our discretion from time to time.
    6. The Lender will provide notice of these changes by posting the revised Terms or any part of it on the Site where you will also find the latest version of Terms or any part of it. We also can provide such information by your email, through your account, or by any other means. The Lender reserves the right to choose the preferred notification method at its sole discretion. You undertake to check your account and email regularly.
    7. Any such changes will be effective immediately upon the posting of the revised Terms, any part of it or any other document or information incorporated in the Terms by reference or on the Site regardless of the means of notification chosen by the Lender. You are solely responsible for reviewing such notice and the corresponding changes to the Terms, any part of it or any other document or information incorporated in the Terms by reference or on the Site. Your non-termination or continued use of the Site and/or the Services following the updates to the Terms any part of it or any other document or information incorporated in the Terms by reference or on the Site constitutes your acceptance of them, as modified by such updates. If you do not agree to such changes, you must stop using the Site and/or the Services and contact us regarding termination of these Services.
    8. You should review these Terms, documents or information incorporated in the Terms by reference or on the Site regularly, and check back often to confirm that your understanding of them is current and correct.
    9. The Lender may, at its sole discretion and without liability to you or any other third party, with or without prior notice and at any time, change, modify, remove or discontinue (temporarily or permanently) the use of the Site, any part or all of the Services, functions and corresponding information from the Site without indicating the reasons of such action, and you confirm that the Lender will not be liable to you for any such change, modification, removal or termination.
  5. Your account

    1. In order to use some or all Services, including any or all functionalities of the Site, we require you to register at the Site and provide any requested information. As part of our registration procedure, we may, at our sole discretion, conduct a verification process to verify your identity and eligibility to use our Services or the Site.
    2. In case verification process is applied, we will establish an account for you only after verification process is completed.
    3. The Lender may, at its sole discretion and without indicating the reasons, refuse to register you or open an account for you at any time.
    4. Only one registration and account per person is allowed unless otherwise indicated by the Lender. Accounts can only be used by the Customers whose name they are registered under. If you are an authorised representative of a legal entity, you are allowed to have one additional account on behalf of this entity. It is forbidden to use any account other than your own or access the account of any other user of the Platform at any time or assist others in obtaining unauthorised access.
    5. When required by the Lender, for the purpose of your identification and in order for the Lender to comply with the legal requirements, you shall provide the Lender with certain personal information, answer certain questions and take certain actions. By submitting this or any other personal information as may be required, you verify that the information is accurate and authentic, and you agree to update the Lender if any information changes. You will thereby authorize the Lender to, directly or through third parties make any inquiries the Lender considers necessary to verify your identity and/or to protect against fraud or detect money laundering, financing of terrorism or any other financial crime, including, but not limited to, to query identity information contained in public reports (e.g., your name, address, past addresses, or date of birth)or to query any other information which may be required under the applicable law, and to take any action the Lender reasonably deems necessary based on the results of such inquiries and reports. Where necessary, you will have to specifically authorise any and all third parties to which such inquiries or requests may be directed to fully respond to such inquiries or requests or, alternatively, obtain any such data on your own and submit in to the Lender in a manner reasonably required by the Lender. Failing to comply with the requirements set out in this article will be considered a valid reason to suspend your account.
    6. At the registration at the Site and afterwards you must enter only truthful, correct, accurate and complete data about yourself. You are responsible for any losses that occur regarding the submission of invalid/incorrect data. You unconditionally warrant that any information, data and/or content you provide for us:
      1. is truthful, correct, accurate, complete and not misleading or otherwise deceptive;
      2. does not infringe the intellectual property rights of the Lender or any third party such as copyright, patent, trademark, trade secret or other proprietary rights, rights of publicity or privacy;
      3. does not violate any law, statute, or regulation;
      4. is not defamatory or libelous, and,
      5. will not create any liability for the Lender.
    7. During the registration and at any time after the registration you must, at our request, provide the Lender with all the required documents and information within the time limit and form (including, but not limited to, certified, apostilled or notarized copies) specified by the Lender at your own expense. You must assure that any of your documents or information provided to the Lender are truthful, correct, accurate, complete and updated. You acknowledge and agree that you have the obligation to keep all information provided up to date and will promptly inform the Lender about any amendments of the documents and information previously submitted by you to the Lender.
    8. The Lender reserves the right to suspend the usage of the account and freeze your funds until your registration data and/or identity and/or any information related to you or your account is completely verified if any of these actions were required by us. Verification of your account will be determined at our sole discretion. Failure to completely verify your account under our request may result in account closure and such decision will be made by us at our sole discretion and, where applicable, a statutory action will be taken against you.
    9. You are responsible for all activities that occur under your account, all damages caused and accept all risks of any authorized or unauthorized access to your account to the maximum extent permitted by law.
    10. The Lender reserves the right to suspend or close your account if the Lender suspects or detects any of the following:
      1. the account is used for any illegal activity;
      2. the account is used in relation to businesses listed in the Acceptable Use Policy and such use has not been pre-approved by the Lender;
      3. the account is used by a person other than the Customer whose name it is registered under;
      4. the Borrower has violated these Terms (including any documents incorporated herein by reference);
      5. such action must be taken under the applicable law;
      6. such action must be taken under these Terms (including any documents incorporated herein by reference);
      7. The Lender considers it reasonable and prudent to take these actions.
    11. The Lender will not take any legal responsibility for losses in relation to suspension and closure of accounts or freeze of funds.
  6. The Wallet and FIAT wallet

    1. In order to receive SpectroCoin Loan the Customer must create an account in the Platform and get access to the Wallet and FIAT wallet.
    2. Wallet is a technical solution, provided by us and our partners, allowing to service the Loan with Virtual Currency. The Wallet is and shall be used only to:
      1. store the Virtual Currency which the Borrower and the Lender agrees in special conditions of the Loan Agreement as acceptable Collateral to pledge for a SpectroCoin Loan;
      2. store any other payments in Virtual Currency under the Loan Agreement which is or shall be transferred to the deposition of the Lender;
      3. receive the requested amount of SpectroCoin Loan (only if it is in Virtual Currency) from the Lender.
      4. make any other payments to or from it exceptionally for the SpectroCoin Loan servicing purposes.
    3. FIAT wallet is a technical solution, provided by us and our partners, allowing to service the Loan with Fiat Currency (EUR or any other Fiat Currency if allowed by us). The FIAT wallet shall be used only to:
    4. You may not use the Wallet and FIAT wallet for the purposes other than stated above even if the Wallet or FIAT wallet functionality or combination thereof allows you to use them in this way.
    5. FIAT wallet is not EUR or any other Fiat Currency account, e-money account, payment account or any other type of account of the Customer. FIAT wallet only allows the Customer to access Fiat Currency, which is assigned to the Customer by a special reference in Lender’s Fiat Currency account and reflected in the Platform.
    6. For funds transfers to or from your Wallet or FIAT wallet you must use only your own account and transfers to or from any external third-party accounts are strictly forbidden. In the context of this provision transfers are treated to be to or from the third-party accounts if:
      1. a transfer is made on your behalf by a family member, friend, spouse or etc.
      2. a transfer is made via bank transfer, in someone else's name, even when permission is given by the third-party;
      3. a transfer is made via an alternative transfer method, in someone else's name, even when permission is given by the third-party;
    7. Funds to the Wallet or FIAT wallet can be added or withdrawn using methods available on the Platform. The Lender may at any time change the available payment methods or available service providers, which we choose at our sole discretion. The Lender will have no liability or obligation for taking such action. You cannot add or withdraw funds to or from your Wallet or FIAT wallet from or to another person's account of any sort.
    8. Funds to the Wallet or FIAT wallet are added or withdrawn within the shortest time available. If such transaction is related with the use of third parties service, it can take more time. However, The Lender will not be responsible and will not compensate any loss due to the time period of the transaction.
    9. For use of the Wallet and FIAT wallet additional conditions from the Loan agreement apply.
    10. If the Lender or the Customer uses an intermediary or third party accounts (for example, services of banks, e-wallets providers, e-money institutions, money transfer service providers, PayPal, etc.) to process any kind of the transactions under the Agreement, the Lender does not assume responsibility for such intermediaries or third parties and their business stability and does not cover any of fees, charged by such intermediaries or third parties, whether they occurred due to the Customer’s or Lender’s activity.
    11. Your Wallet, including Virtual Currency balance, transactions, history and cold wallets may be operated, held and processed by our partner directly or through the intermediary if we decide so.
    12. The Lender reserves the right to restrict your usage of the Wallet or FIAT wallet or block the Wallet or FIAT wallet altogether, if you violate the Terms, Loan agreement or any other applicable documents and laws.
    13. The Lender reserves the right to change, supplement or discontinue any functionality offered in the Wallet or FIAT wallet, any features offered and the Wallet or FIAT wallet itself at any time without your consent.
    14. The Lender will not be responsible and will not compensate any loss due to technical reasons, errors, malfunction, security breach of the Wallet or FIAT wallet.
    15. The Lender will not provide any refunds of your funds in the Wallet or FIAT wallet for any reason, including, but not limited to, loss of your funds due to technical reasons, errors, malfunction of the Wallet or FIAT wallet, transaction failures, etc.;
    16. If the Lender uses an intermediary to process any payments, exchanges and/or collect fees (for example, banks, e-wallets, PayPal, exchange brokers etc.), the Lender does not assume responsibility for such intermediaries and their business stability;
    17. The Lender is not responsible for incorrect payments made by you in or from the Wallet or FIAT wallet (for example, when you indicate a wrong purpose of payment, transfer funds to a wrong account or specify incorrect details of a recipient).
    18. You shall take all responsibility and compensate any Lender’s or third-party loss if you breach any of the above-mentioned conditions.
  7. Fees

    1. You agree to pay the Lender the fees for the Services. The fees are determined at our sole discretion and non-negotiable. If you do not agree with the fees, you will not be able to use the Services. Information about the applicable Fees and Limits may be provided in the Loan Agreement or on the Site. Please familiarize with them. We may change the fees at any time at our sole discretion and without your consent. Changes to the fees will be effective as of the posting of the revised fee information and will apply prospectively to any use of the Services that takes place following the effective date of such revised fee information.
    2. If you fail to pay fees or any other amounts owed to the Lender under these Terms or the Loan agreement and the Lender refers your account(s) to a third party for collection, then the Lender will charge you to cover our collection-related costs. These additional charges can be deducted from your funds in the account.
  8. Financial Services Disclaimer

    1. The Lender does not provide financial advice in any form and cannot be considered as a financial advisor company, a financial brokerage company or an investment company or fund. No content, the Services or products available on the Site or via any form of communication may be taken as financial advice or a financial/investment recommendation.
    2. Your account (including Wallet and FIAT wallet functionality) is not a bank account, payment account, electronic money account or interest bearing account and it cannot be associated with these types of accounts and their benefits, including, but not limited to, protection by law, deposit and investment insurance.
    3. You must read the Risk Warning Statement<, published on the Site, before using the Site or the Services.
  9. Copyrights and Other Intellectual Property Rights

    1. Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on our Site or provided in connection with the Services, including, without limitation, SpectroCoin Loans logo and all designs, text, graphics, pictures, information, data, software, sound files, other files and the selection and arrangement thereof are the intellectual property of the Lender and our Associates and are therefore protected by applicable intellectual property laws.
    2. You are only allowed to use our intellectual property to the extent it is reasonably necessary in order for you to use the Site and the Services. It is prohibited to resell any of our intellectual property; distribute ir or display publicly; modify or otherwise make any derivative uses of our intellectual property; use the intellectual property for any other purpose than explicitly allowed under these Terms.
    3. SpectroCoin Loans logo and any other of the Lender product or service names, logos or slogans that may appear on our Site or become accessible through use of the Services are trademarks of the Lender 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 SpectroCoin Loans without our prior written permission, including without limitation any metatags or other “hidden text” utilizing any trademark, product or service name of SpectroCoin Loans. 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 SpectroCoin Loans 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.
    4. Due to the risk of fraud, duplicate or fake accounts, and other reasons, it is prohibited to promote your SpectroCoin Loans referral URL through the use of paid advertising and to use SpectroCoin Loans branded terms in your ad copy. This includes, but is not limited to, bidding or running ads on search brand keywords that include SpectroCoin Loans and similar variations. You can use any channel you want to reach potential referrals. However, even though we make a good faith effort to do the payouts, those who promote their SpectroCoin Loans referral links on malicious and unsafe sites will have their referral links deactivated.
  10. Security

    1. We are committed to store safely your account data, use firewalls, antivirus software, SSL certificates.
    2. The Lender reserves the right to make both scheduled and non-scheduled maintenance of our systems, update and improve them without giving notice to you. During maintenance the Services may be temporarily unavailable. However, Lender is not responsible for any damages that may result from the interference of the Services under maintenance.
    3. In case of violation of your account’s security, we reserve the right to suspend access to the account so that we can ensure further safe and comprehensive functioning of the Services. We are not responsible for losses incurred due to such a suspension of access to the account.
    4. The Lender will not be liable for your insecure computer and/or internet connection, operation of the Virtual Currency peer-to-peer network and any Virtual Currency related software. It is your sole responsibility to keep your account credentials, passwords, login data and 2FA data secure. You must keep secure your email account, phone and other means and devices that you use to login into your SpectroCoin Loans account and/or authorise your transactions. The Lender does not undertake to secure any of these means and/or devices and will not be liable in the event they are breached, lost or stolen and this results in potentially unlawful or unauthorised use of your SpectroCoin Loans account.
    5. In the case of unauthorized access to your account and loss of funds, the Lender does not undertake to remunerate your losses. You must personally refer to the competent authorities.
    6. You are solely responsible for maintaining the confidentiality of your account information, including unique login ID and password, and for their use. We recommend that you never share or disclose your account information with anyone, create complex and secure password, change your password from time to time, always log out when finished using the account.
  11. Forks

    1. As a result of the decentralized and open source nature of virtual currencies it is possible that sudden, unexpected, or controversial changes (“Forks”) can be made to any Virtual Currency that may change the usability, functions, value or even name of a given Virtual Currency. Such Forks may result in multiple versions of a Virtual Currency and could lead to the dominance of one or more such versions of a Virtual Currency and the partial or total abandonment or loss of value of any other versions of such Virtual Currency.
    2. The Lender is under no obligation to support a Fork of a Virtual Currency that you hold in your account, whether or not any resulting version of such forked Virtual Currency is a dominant Virtual Currency or non-dominant Virtual Currency or holds value at or following such Fork.
    3. If the Lender opts, at its sole discretion, to support a Fork of a Virtual Currency, it will make a public announcement through the Site and/or by notifying Borrower’s via email, and will bear no liability for any real or potential losses that may result based on the decision to support such Fork or the timing of implementation of support.
    4. If the Lender, at its sole discretion, does not opt to support a Fork of a given Virtual Currency, including the determination to support, continue to support, or cease to support any dominant Virtual Currency or non-dominant Virtual Currency, the Lender assumes no responsibility or liability whatsoever for any losses or other issues that might arise from an unsupported Fork of a Virtual Currency.
    5. Forks of virtual currencies can be frequent, contentious and unpredictable, and therefore cannot be consistently supported by the Lender. When keeping virtual currencies on the Platform in your account you should operate under the assumption that the Lender will never support any Fork of the supported Virtual Currency.
    6. Certain Virtual Currencies are built to operate on the Ethereum or other protocols or are distributed to holders of Ethereum or other protocols (often referred to as an “airdrop”) without any action required by Borrower. As a general rule, the Lender does not support Forks or airdrops, but will notify the Borrowers if it intends to support a specific Fork, airdrop, or other distribution or creation of a Virtual Currency.
    7. Note that in the event of a Fork of a Virtual Currency, the Lender may be forced to suspend all activities relating to such Virtual Currency (including exchanging, depositing, and withdrawing) for an extended period of time until the Lender has determined at its sole discretion that such functionality can be restored. This downtime will likely occur with little to no warning, and during this period of downtime you will not be able to exchange, deposit, or withdraw the Virtual Currency subject to such Fork. The Lender assumes no responsibility or liability whatsoever for any losses or other issues that might arise from such situations.
  12. Liability and Indemnification

    1. You are solely responsible for actions performed by using the Site and the Services.
    2. You are under legal obligation to act in accordance with these Terms and applicable law and refrain from any actions that may cause monetary or reputational damage to the Lender, its Associates, the Site or the Services, as well as other our clients.
    3. Lender will not be liable for any damage or loss incurred by you, your associates or persons represented by you due to the fact that you, regardless of our recommendations and your own commitments, did not get familiar with these Terms or failed to visit the Site periodically and familiarise yourself with any changes to the Terms.
    4. To the full extent permissible by applicable law, the Lender disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose. The Lender does not warrant that the Services, information, content, materials, products (including software) or other services included in or otherwise made available to you through the Services, Lender’s servers or electronic communications sent from the Lender are free of viruses or other harmful components. Lender does not accept liability beyond the remedies set forth herein, including any liability for the Services not being available for use or for lost or corrupted data or software, or the provision of Services and support.
    5. To the fullest extent permitted by law, the Lender will not be liable (whether in contract, tort, including negligence, or under any statutory implied term) for any damages of any kind including, without limitation, direct, indirect, incidental, punitive, special and consequential damages (including, without limitation, loss of profits, loss of revenue, loss of data or injury, loss due to technical faults, which result in a loss of ability to access your Virtual Currency, system hacks, server failure or data loss, technical faults of the Virtual Currency system, forgotten passwords, security of your private keys, unauthorized access to your FIAT wallet/Wallet/account, corrupted Wallet/FIAT wallet files or data, incorrectly constructed transfers or mistyped Virtual Currency/Wallet/FIAT wallet addresses) arising out of or in connection with your use of the Site and the Services (including other services and products made available through the Services), the inability to use the Services, even if advised of the possibility of such damages.
    6. You undertake to defend and indemnify the Lender and its Associates from any claim or demand, including reasonable attorney's fees, arising from your failure to comply with these Terms, your violation of any law, or the rights of a third party.
    7. You will be liable for all reversals, chargebacks, fees, fines, penalties and other liability and/or losses incurred by the Lender or its Associates due to your use of the Site and/or the Services. This will also apply when the loss is incurred by the Lender as a result of your knowingly erroneous claims, defamatory public statements or false accusations. You are under a legal obligation to reimburse the Lender and its Associates for any and all such liability.
    8. When 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. We do not control, endorse or adopt any third-party content and will 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 sort 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.
    9. The Lender is not a creator, issuer or developer of any of the Virtual Currencies indicated on the Site (including, but not limited to, Bitcoin (BTC), Ether (ETH), NEM (XEM), DASH (DASH), Tether (USDT), Banker (BNK)). Therefore, the Lender will in no way be liable for any actions or inactions of the creators, issuers and developers of the Virtual Currencies and any usage and/or attributes of such Virtual Currencies. By taking any action in the Wallet with BNK virtual currency you also agree to all SpectroCoin Terms and Conditions.
    10. You are responsible for maintaining adequate security and control of any and all identification numbers, passwords, or any other codes that you use to access the Website.
    11. You are responsible for the security and integrity of your account and computers or interfaces.
    12. The Lender accepts no responsibility for any loss or damages if you provide the Lender with any wrong or false information, including, but not limited to, payments made to an incorrect wallet address or an incorrect bank account indicated by you.
    13. It is your responsibility to determine what, if any, taxes apply to your use of the Lender Services, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. The Lender is not responsible for determining whether taxes apply to your use of our Services, or for collecting, reporting or remitting any taxes arising from any transaction.
    14. The Lender will not be liable for
      1. any inaccuracy, error, delay in, or omission of any information, or the transmission or delivery of information;
      2. any loss or damage arising from any Force Majeure Event.
    15. If the Lender finds out or suspects that particular Customer has written misleading information about the Lender in public (like forums, blogs or etc.) or about its management also if the Customer spoiled or tried to spoil reputation of the Services, management, brand or etc., or the Customer has revealed confidential information in public (account numbers, conversations between the Lender and the Customer, balance or etc.), the Lender reserves the right to close Customer’s account and/or freeze all Customer’s funds until such comments, claims or misleading or other information is deleted. The Lender reserves the right to charge a penalty fee of total taken SpectroCoin Loans amount, but no less than 250 000 EUR, if the Customer is or was engaged in such activities.
  13. Privacy and Personal Data Management

    1. Please refer to our Privacy Policy, published on the Site, for information about how we collect, use and share your information.
  14. Cookies

    1. Please refer to our Cookie Policy, published on the Site, for information about how we and our partners use cookies.
  15. AML requirements

    1. We implement AML legal requirements according to our approved internal AML policy and procedures as well as according to applicable legal requirements.
  16. Termination

    1. These Terms (subject to any future amendments) will apply as long as your concluded Loan Agreement is in effect and you have an account(s) with us. For more information regarding termination please refer to your concluded Loan Agreement.
  17. Applicable Law, Complaints and Dispute Resolution

    1. These Terms are governed by and interpreted in accordance with the laws of the British Virgin Islands.
    2. Any disagreements or disputes between you and the Lender, arising from the use of Services and being regulated by these Terms and concluded Loan Agreement will be brought before the competent courts of the British Virgin Islands, unless they are settled by negotiations between the Parties.
    3. We invite you to raise your issue first by contacting our support service before bringing any legal action before the courts or, as the case may be, any other institutions. We are committed to properly investigating your matter and, where possible, offering you a solution. Support service is available via email [email protected] or through the Site.
  18. Miscellaneous

    1. Entire Agreement; Order of Precedence. These Terms together with other documents provided by the Lender, such as, Cookie Policy, Privacy Policy, Acceptable Use Statement or Risk Warning Statement, or any other additional agreement or our technical requirements, statements, guidelines or principles, including all updates of these documents and the information are integral parts of the Terms and together constitute one document which is legally binding to you. In the event of any conflict between these Terms and other documents indicated above, the Terms will prevail. Terms together with Loan agreement and additional documents related to it forms one legally binding agreement. For more information regarding documents, constituting the agreement, please refer to your concluded Loan Agreement.
    2. Waiver. Our failure or delay in exercising any right, power or privilege under these Terms will not operate as a waiver thereof.
    3. Severability. The invalidity or unenforceability of any provision of these Terms will not affect the validity or enforceability of any other provision of these Terms (including provisions of any of the documents indicated in 18.1 which comprises an integral part of the Terms), all of which will remain in full force and effect.
    4. Assignment. You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from the Lender, including by operation of law or in connection with any change of control. The Lender may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.
    5. Survival. Certain provisions of these Terms and any of the documents comprising an integral part of Terms will survive termination, including but not limited to, copyright and other intellectual property rights, liability and indemnification, applicable law, complaints and dispute resolution, and other provisions, which in accordance with the applicable law, survive the termination of the Terms.
  19. Annexes

    1. We treat all annexes as an integral part of the Terms and interpret the provisions contained therein in conjunction with the provisions of the Terms in the context.
    2. Annexes:

      1. Acceptable Use Statement;
      2. Risk Warning Statement.

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