Terms of Bitcoin Sale
WHEREAS, UAB “Spectro Finance", located at Ausros al. 68, LT-76233 Siauliai, Lithuania, company code 303008845, is a Bitcoin buyer (hereinafter - the "Buyer", "we", "us");
WHEREAS, Bitcoin (the "Bitcoins") is a virtual peer-to-peer currency;
WHEREAS, you (“you" or the "Seller") are an individual or entity that sells Bitcoins to the Buyer at SpectroCoin.com;
WHEREAS, SpectroCoin.com (the "Website" or the "Shop") is an online shop for Bitcoins;
NOW, THEREFORE, for and in consideration of the foregoing and the mutual covenants and agreements contained herein, the parties hereby stipulate, agree and enter into the agreement (the "Agreement") as follows:
1. GENERAL PROVISIONS, SCOPE OF THE AGREEMENT AND ACCEPTANCE1.1. This Agreement sets out general terms and conditions for using the Shop. This Agreement is applicable when you sell Bitcoins at the Shop .
1.2. Under this Agreement the Seller commits to sell and deliver Bitcoins and transfer additional rights, determined in this Agreement, to the Buyer by submitting them to the Website.
1.4. This Agreement comes into effect at the moment you register at the Website.
1.5. Use of the Website is limited to parties that are 18 years old or older and lawfully can enter into and form contracts under applicable law.
1.6. The Buyer may change, amend, delete or add to this Agreement or any of the terms and conditions contained in any policies or rules governing the Website at any time and in its sole discretion. Any such changes will be effective upon the posting of the revised Agreement or such policies and rules on the Website and you are solely responsible for reviewing any such notice and the corresponding changes to the Agreement. Your continued use of the Website following any such revisions to the Agreement or such policies and rules will constitute your acceptance of such changes. If you do not agree to any such changes, do not continue to use the Shop.
2. YOUR ACCOUNT2.1. If you want to start using the Shop and buy Bitcoins, you must register at the Website. After you agree to be bound by this Agreement and complete the registration form, the Buyer will establish an account for you (the "Account") and provide you with the unique login ID and password. The Buyer is entitled to refuse to register a new Seller without indicating the reasons.
2.2. The Seller can have only one account and may not create or use any Account other than its own. It is prohibited to use the same Account for meeting the needs of both natural and legal person.
2.3. To register, you must provide your real name and surname, address, date of birth, phone number, e-mail address and other information required in the registration form.
2.4. For the purpose of your identification you must provide a copy of your passport or ID card, a copy of the bank transfer with the banker's signature, utility bill and other information required in the registration form. If you fail to provide any of requested documents, Buyer reserves the right to charge a refund fee of 1% from the total amount of Bitcoins sent.
2.5. You are solely responsible for maintaining the confidentiality of your Account information, including unique login ID and password, and for their use.
2.6. You confirm that at the registration at the Website you have entered correct data about yourself and that afterwards, when changing or adding this data in the Account, you will enter only correct data. The Seller shall bear any losses that occur regarding to the submission of invalid/incorrect data. You unconditionally warrant that any information, data and/or content you provide: (i) will be correct, accurate and not misleading or otherwise deceptive; (ii) will not infringe the intellectual property rights of the Buyer or any third party such as copyright, patent, trademark, trade secret or other proprietary rights, rights of publicity or privacy; (iii) will not violate any law, statute, or regulation; (iv) will not be defamatory or libelous, and, (v) will not create liability for the Buyer.
3. RIGHTS AND OBLIGATIONS OF THE BUYER3.1. The Buyer may at any time:
3.1.1. change or remove (temporarily or permanently) the Website, Bitcoins and other information from the Shop without indicating the reasons of such change or removal and you confirm that the Seller shall not be liable to you for any such change or removal.
3.1.2. restrict your usage of the Shop, if you breach this Agreement or any other law or act in a manner that is unlawful and threatening to the normal operation of the Shop.
3.1.3. change this Agreement unilaterally.
3.1.4. resell purchased Bitcoins at the Shop or other marketplaces.
3.2. The Buyer commits to:
3.2.1. create appropriate conditions for the Seller to use the Shop and sell Bitcoins.
4. RIGHTS AND OBLIGATIONS OF THE SELLER4.1. The Seller has a right to:
4.1.1. sell and deliver Bitcoins online at the Shop in accordance with the terms and conditions of this Agreement.
4.2. The Seller commits to:
4.2.1. sell Bitcoins;
4.2.2. deliver Bitcoins.
4.2.3. accept this Agreement and act according to it.
5. PRICING AND OFFER5.1. You are allowed to sell only Bitcoins at the Shop.
5.2. If you want to sell Bitcoins to us, you must make your offer on our offer page located at [https://spectrocoin.com/sellBTC.html]. In the offer form you can indicate the quantity of Bitcoins you want to sell. However, the Buyer is not entitled to accept every offer from you and may refuse to buy your offered Bitcoins for any reason.
5.3. After your initial offer the Buyer will decide if it accepts it and wants to buy Bitcoins from you.
5.4. The price of your Bitcoins is determined by the Bitcoin market rates at the date of the delivery.
5.5. You must enter full details of your offer as presented when filling an offer form. If your offer details are incorrect and/or insufficient, we will reject the offer.
5.6. You must use a valid email address that we are able to contact you with.
5.7. The Buyer will pay for your offered Bitcoins after you deliver them to the Buyer's Bitcoin Wallet address and the delivery is confirmed in the public Bitcoin peer-to-peer network. The Buyer will not pay for Bitcoins in advance.
5.8. After the successful payment the Seller will buy corresponding quantity of Bitcoins for the Customer's paid amount of money according to the Bitcoin market rates.
5.9. The payment for the bought Bitcoins will be processed to Sellers bank account within 30 business days or the payment can be held until the Seller requests to process it.
5.10. You can receive payments for Bitcoins you sell to your Wallet in accordance with terms and conditions set in [https://spectrocoin.com/en/terms/walletAgreement].
5.11. It is your responsibility to determine what, if any, taxes apply to the payments for the Bitcoin purchase, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. The Buyer is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.
5.12. Buyer reserves the right to reverse any sales of Bitcoin without providing any reasons.
6. DELIVERY, ACCEPTANCE OF BITCOINS AND TRANSFER OF OWNERSHIP6.1. Bitcoins must be delivered by the Seller.
6.2. The Buyer's purchased quantity of Bitcoins must be delivered to the Buyer's Bitcoin Wallet address.
6.3. Purchased Bitcoins are considered delivered at the moment the transaction becomes available at the public Bitcoin peer-to-peer network.
6.4. The ownership of Bitcoins is transferred to the Buyer upon the delivery of Bitcoins.
7. GRANT OF RIGHTS7.1. By offering and selling Bitcoins at the Website, you represent and warrant to the Buyer that you are the owner of Bitcoins and/or have the right and ability to sell Bitcoins and that your offer is accurate, current, and complete and is not misleading or otherwise deceptive.
8. LIABILITY AND INDEMNIFICATION8.1. You are responsible for actions performed by using the Shop.
8.2. You must act in accordance with this Agreement and applicable law and refrain from any action that may cause damage to the Shop and/or the Buyer.
8.3. The Buyer shall not be liable in case of loss due to the fact that the Seller, regardless to the Buyer's recommendations and his own commitments, did not get familiar with this Agreement.
8.4. TO THE FULL EXTENT PERMISSIBLE BY APPLICABLE LAW, THE BUYER DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE BUYER DOES NOT WARRANT THAT THE BUYER SERVICES, INFORMATION, CONTENT, MATERIALS, PRODUCTS (INCLUDING SOFTWARE) OR OTHER SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE BUYER SERVICES, THE BUYER'S SERVERS OR ELECTRONIC COMMUNICATIONS SENT FROM THE BUYER ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. THE BUYER DOES NOT ACCEPT LIABILITY BEYOND THE REMEDIES SET FORTH HEREIN, INCLUDING ANY LIABILITY FOR PRODUCTS NOT BEING AVAILABLE FOR USE OR FOR LOST OR CORRUPTED DATA OR SOFTWARE, OR THE PROVISION OF SERVICES AND SUPPORT. TO THE FULLEST EXTENT PERMITTED AT LAW, THE BUYER 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) ARISING OUT OF OR IN CONNECTION WITH THE PARTICIPATION AGREEMENT, THE SITE, THE SERVICE, PRODUCTS (INCLUDING SOFTWARE), THE INABILITY TO USE THE SERVICE OR THOSE RESULTING FROM ANY GOODS OR SERVICES PURCHASED OR OBTAINED FROM THE BUYER, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. YOU AGREE THAT FOR ANY LIABILITY RELATED TO THE SERVICES OF THE BUYER, WHETHER FOR BREACH OF CONTRACT, WARRANTY, NEGLIGENCE, STRICT LIABILITY IN TORT OR OTHERWISE, THE BUYER SHALL NOT BE LIABLE OR RESPONSIBLE FOR ANY AMOUNT OF DAMAGES ABOVE THE AGGREGATE MONEY AMOUNT PAID BY YOU FOR THE SERVICES UNDER THESE TERMS GIVING RISE TO SUCH LIABILITY.
8.5. You agree to defend and indemnify the Buyer and its employees from any claim or demand, including reasonable attorney's fees, arising from your failure to comply with this Agreement, your violation of any law, or the rights of a third party.
8.6. You are responsible for all reversals, chargebacks, fees, fines, penalties and other liability and/or losses incurred by the Buyer or a third party caused by your use of the Website and/or arising from your breach of this Agreement. You agree to reimburse the Buyer or a third party for any and all such liability.
8.7. The Buyer is not responsible for information provided at other websites, even if the Seller followed links to those websites from the Shop.
8.8. The Buyer takes no responsibility for and will not be liable for any financial loss arising from the use of your Bitcoin Wallet, including loss due to server failure or data loss; forgotten passwords; corrupted wallet files or data; incorrectly constructed transactions or mistyped bitcoin addresses.
8.9. SpectroCoin is not a creator, issuer or developer of any of the Currencies indicated on the Website (including, but not limited to, Bitcoin (BTC), Ether (ETH), NEM (XEM), DASH (DASH), Banker (BNK)). Therefore, SpectroCoin shall in no way be liable for any actions or inactions of the creators, issuers and developers of the Currencies and any usage and/or attributes of such Currencies.
9.2. In order to use the Shop and sell Bitcoins you must provide your personal data that is required in the offer/registration or any other form.
9.3. Your personal data that you provide will be used to identify you as the Seller and to execute this Agreement. The Buyer commits to protect your personal data and disclose it only when it is necessary to execute this Agreement or it is required by the Agreement or applicable law.
9.4. You confirm that you have entered correct data about yourself in every required form and that afterwards, when changing or adding any data at the Shop, you will enter only correct data. The Seller shall bear any losses that occur regarding to the submission of invalid/incorrect data.
9.5. 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.
9.6. The Buyer may use your personal data for direct marketing purposes if you give your consent in the registration form. You can withdraw the above consent at any time.
10. TERMINATION (LIMITATION) OF THE AGREEMENT10.1. The term of this Agreement is for a period of time when you successfully register for the Account until this Agreement is terminated for whatever reason. You may close your Account and terminate this Agreement at any time by logging in to your Account and then following the instructions. Account cancellation shall mean the Agreement termination.
10.2. At any time and for any reason in its sole discretion the Buyer may terminate this Agreement, your access to the Website, your Account and may halt any pending sales at any time without notice to you. The Buyer shall have no liability or obligation for the termination of this Agreement.
10.3. You may not close your Account to evade an investigation on your fraudulent activities. If you attempt to close your Account while we are conducting an investigation, we may hold your funds to protect the Buyer or a third party against the risk of reversals, chargebacks, claims, fees, fines, penalties and other liabilities of whatever nature. You will remain liable for all obligations related to your Account even after the Account is closed.
11. APPLICABLE LAW AND DISPUTE RESOLUTION11.1. The interpretation, validity and enforcement of this Agreement, and all legal actions brought under or in connection with the subject matter of this Agreement, shall be governed by the law of the Republic of Lithuania.
11.2. Any disagreements or disputes of the Buyer and the Seller, arising from this Agreement, shall be settled by negotiations between the Buyer and the Seller. In case of failure to reach an agreement in 14 (fourteen) days, any disputes, disagreements or claims, arising from this Agreement or related to it, its breach, dissolution or validity, that have not been solved by the Buyer and the Seller, shall be settled in the competent court of the Republic of Lithuania, according to the registration address of the Buyer.
12. MISCELLANEOUS PROVISIONS12.1. The Seller confirms that he has read this Agreement, understood its terms, conditions and consequences.
12.2. If any section or portion(s) of this Agreement is declared invalid by any court of competent jurisdiction or a government agency having jurisdiction, the remainder of this Agreement, and the application of such provision to persons or circumstances other than those to which it is held invalid by such court, shall not be affected thereby, and this Agreement shall remain in full force and effect. To the extent possible, the parties shall reform such invalidated section or portion(s) thereof in a manner that will render such provision valid without impairing the parties' original intent.
12.3. All the notices, consents and other communication of the parties related to this Agreement shall be delivered via e-mail.
12.4. The Buyer has a right to revoke this Agreement if you do not comply with the Agreement, act in a fraudulent or illegal way, engage in unauthorized transmission and use of personal (including credit card) data.