Virtual Currency Agreement
WHEREAS, UAB “Spectro Finance", located at Ausros al. 68, LT-76233 Šiauliai, Lithuania, company code 303008845, is a Virtual Currency Wallet service provider (hereinafter - "SpectroCoin", "we", "us");
WHEREAS, virtual currency (the "Currency") is a virtual peer-to-peer currency, including Bitcoins, Litecoin, etc.;
WHEREAS, you (“you" or the "User") are an individual or entity (including merchants) that holds the Currency at www.spectrocoin.com;
WHEREAS, www.spectrocoin.com (the "Website" or the "Wallet") is an online Virtual Currency Wallet for holding, sending and receiving the Currency;
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 Wallet. This Agreement is applicable when you use the Wallet to hold, send, receive the Currency and also to buy or sell the Currency using the relevant SpectroCoin services.
1.2. You are the owner of the Currency stored in the Wallet, unless you sell them directly to SpectroCoin or other buyers.
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. SpectroCoin 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 Wallet.
2. YOUR ACCOUNT2.1. If you want to start using the Wallet and buy the Currency, you must register at the Website. After you agree to be bound by this Agreement and complete the registration form, SpectroCoin will establish an account for you (the "Account") and provide you with the unique login ID and password. SpectroCoin is entitled to refuse to register a new User without indicating the reasons.
2.2. The User 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 may be required to 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 by SpectroCoin.
2.5. SpectroCoin reserves the right to suspend the usage of the Account until your identity is completely verified.
2.6. 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.
2.7. 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 User 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 SpectroCoin 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 SpectroCoin.
2.8. Your Wallet's initial balance will be zero. You can add the Currency to the Wallet using the methods described in the Agreement below.
2.9. Your Wallet virtual currency balance, transactions, history and cold wallets are operated, held and processed by SpectroCoin partner corporation Finalify Ltd (Mill Mall Tower, 2nd Floor, Wickhams Cay 1, Road Town, Tortola, BVI). SpectroCoin operates virtual currency sale and purchase operations only. SpectroCoin will not be responsible and will not compensate any loss due to technical reasons, errors, malfunction, security breach of the virtual currency Wallet.
2.10. Your Account may be also used for other SpectroCoin services (i.e. payment services). In such cases you agree to be bound and accept relevant service agreements and policies.
3. USE OF THE WALLET3.1. SpectroCoin's Wallet is an easy to use and secure online virtual currency storage service which allows you to hold, send and receive the Currency without needing to download a virtual currency client. You may also sell and purchase the Currency using the Wallet.
3.2. For the purpose of selling and purchasing the Currency you can add/withdraw up to 1000 000 EUR or an equivalent in other supported currencies (i.e. USD, LTL) to/from your Wallet. Funds can be added/withdrawn through your bank, payment institution's or electronic money institution's account.
3.3. You cannot add/withdraw funds to/from your Wallet from/to another person's bank, payment institution's or electronic money institution's account.
3.4. Funds are added to your Wallet upon receipt of a payment to SpectroCoin bank account or through an intermediary. Local bank transfer takes up to 2 working days, international transfers may take up to 10 working days, transfers through an intermediary may take up to 2 working days.
3.5. Funds are withdrawn from your Wallet within 2 working days, but the actual transfer of money may be longer (local bank transfer may take up to 2 working days, international transfers may take up to 10 working days, transfers through an intermediary may take up to 2 working days).
3.6. You are the owner of money deposited in the Wallet until you decide to use money for buying the Currency.
3.7. The Wallet is not a bank account, payment account or electronic money account and it cannot be associated with these types of accounts and their benefits. The Wallet is a special SpectroCoin payment instrument, which can be used strictly for the purpose of selling the Currency to SpectroCoin and/or buying the Currency from SpectroCoin.
3.8. You cannot use the Wallet for transferring money to another SpectroCoin user.
3.9. You can access all information related to your Wallet and the Currency, including transaction history, our service fees, etc.
3.10. You are the sole owner of the Currency held in your Wallet.
3.11. SpectroCoin may at its own discretion and without your consent impose limits on your Currency transactions and/or Wallet. You can check limits imposed to you at spectrocoin.com.
3.12. SpectroCoin reserves the right to restrict your usage of the Wallet and/or to terminate it, if SpectroCoin determines you violate this Agreement, the Acceptable Use Policy, other policies, anti-money laundering or other applicable laws. If SpectroCoin terminates your Wallet, it is terminated permanently.
3.13. SpectroCoin has the right to suspend/restrict payments if there is a suspicion that the payer's account may be used illegaly or there may be money laundering activity.
3.14. Incorrect payments or payments from third parties' accounts are returned to the payer after deducting fees of a bank, an intermediary and SpectroCoin's 2% return fee.
3.15. You agree that SpectroCoin has no obligation to redeem or sell your Currency held in your Wallet for real currency and/or nominal value.
3.16. SpectroCoin utilizes various security measures to protect the Wallet and is committed to high standards of data security. However, SpectroCoin shall not be liable for any loss (direct or indirect) that you may incur as a result of the Wallet's malfunctions, errors, security breaches, hacks or any other reason.
3.17. SpectroCoin will not compensate any losses (direct or indirect) arising out of use of your Wallet and/or the Currency.
3.18. SpectroCoin reserves the right to change, supplement or discontinue the services offered in the Wallet, the Wallet's features and the Wallet itself at any time without your consent.
3.19. The use of auto trade robots (bots) or any other kind of automatic trading (buy, sell) software or devices on SpectroCoin account is strictly forbidden. SpectroCoin reserves the right to suspend users account without notification, if suspected of such activities. SpectroCoin reserves the right to reverse all transactions, if user is suspected to be engaged in such activities. SpectroCoin reserves the right to charge a penalty fee of 2 times trading turnover, but no less than 25 000 EUR, if user is or was engaged in such activities.
3.20. If SpectroCoin suspects or finds out that user or user account is directly (or indirectly) involved in activities mentioned in the Acceptable use policy, SpectroCoin reserves the right to freeze funds in customer account and/or close the account without notification.
3.21. In case of account suspension of funds freeze, SpectroCoin reserves the right to convert all user funds to euros to avoid value fluctuations until case is solved.
3.22. By exchanging virtual currencies you confirm that they are legal in the jurisdiction in which you are located (reside), otherwise will not be authorized to use the payment card as payment option to complete the transaction/s.
4. ADDING/RECEIVING THE CURRENCY4.1. You may use the Wallet to receive the Currency from SpectroCoin or other third parties. In order to gain full access to received Currency you may need to verify your identity and/or confirm your Wallet. If your Wallet is unconfirmed SpectroCoin may impose limits on your Wallet's usage and transactions.
4.2. You may add the Currency to your Wallet by using the following methods:
4.2.1. Using the virtual currency system (i.e., the Bitcoin system). If you choose to add the Currency to your Wallet through the virtual currency system, SpectroCoin will generate a unique reception address (or addresses) for you in the virtual currency system. Once you transfer the Currency to reception address generated by SpectroCoin, your Currency appears in your Wallet.
4.2.2. Receiving Currency from another User. You can receive the Currency from another SpectroCoin user.
4.2.3. Buying Currency from SpectroCoin. You can add the Currency to your Wallet by buying them from SpectroCoin in accordance with terms and conditions set in spectrocoin.com.
4.3. The Currency will appear in your Wallet instantly if you receive it through SpectroCoin system. If you use the virtual currency system to add the Currency to your Wallet, the Currency deposit may take as long as getting six confirmations in the virtual currency system.
4.4. The risks of accidental perish, theft, disappearance or damage to the Currency shall pass to the User upon adding or receiving the Currency in the Wallet.
5. WITHDRAWING/SENDING THE CURRENCY5.1. You may withdraw your Currency from your Wallet by using the following methods:
5.1.1. Using the virtual currency system (i.e., the Bitcoin system). In order to use the virtual currency system for withdrawing/sending the Currency you must provide SpectroCoin with your address in the virtual currency system. Then in the virtual currency system SpectroCoin will generate a private key / account / Wallet for you, which you will be able to use in order to access your Currency. Be aware that you are solely responsible for security and use of your private key / account / Wallet and must keep it safe and undisclosed, because once it is lost you may no longer be able to access your Currency. SpectroCoin takes no responsibility and will not be liable for your private key's / accounts's / Wallet's security and/or usage.
5.1.2. Selling Currency to SpectroCoin. You can withdraw your Currency by selling it to SpectroCoin in accordance with terms and conditions set in spectrocoin.com.
5.2. You may use the Wallet to send the Currency to other SpectroCoin users or third parties. In order to send the Currency you need to login to your Wallet and specify the destination address and the desired amount of the Currency.
5.3. You may send the Currency to:
5.3.1. Another user of the virtual currency system.
5.3.2. Another user of the SpectroCoin system by providing a recipient's email address.
5.4. If you choose to send the Currency to other user that has the SpectroCoin Account, your transaction will be processed instantly and in real time.
5.5. In other cases the Currency transmission time depends on various factors, therefore SpectroCoin cannot and does not guarantee instant transmission. You can check transmission times at spectrocoin.com.
6. ACCEPTING THE CURRENCY FOR MERCHANTS6.1. In addition to services indicated above in the Agreement, SpectroCoin offers a solution for merchants to accept the Currency as a form of payment from their customers.
6.2. SpectroCoin undertakes to provide a secure technical infrastructure for accepting the Currency. However, SpectroCoin takes no responsibility for improper functionality, technical faults and downtime of the technical infrastructure.
6.3. SpectroCoin may, according to your request, automatically buy the Currency from your customers in accordance with terms and conditions set in spectrocoin.com.
6.4. SpectroCoin will convert the Currency, which SpectroCoin bought from your customers, to euros and add them to your Wallet. The conversion, according to your choice, can be done automatically or manually. However, SpectroCoin has a right to refuse to buy the Currency from your customers in accordance with terms and conditions set in spectrocoin.com.
6.5. You (not SpectroCoin) are the owner/seller of your products/services for which you accept the Currency as a form of payment. You undertake to clearly inform your customers that they buy products/services directly from you.
6.6. By selling products/services to your customers, you represent and warrant to SpectroCoin and prospective customers that you are the owner of products/services and/or have the right and ability to legally sell products/services.
6.7. You are responsible for quality of products/services that you sell to your customers. You guarantee that your products/services will be functioning normally and meet standard quality requirements and conditions of the respective kind of Products and will not have any hidden deficiencies.
6.8. You are also responsible for all reversals, chargebacks, fees, fines, penalties and other liability and/or losses arising out of any transaction between you and your customers.
6.9. Because SpectroCoin is not involved in the transaction between you and your customers and is not the agent of either of you for any purpose, SpectroCoin will not be involved in resolving any disputes between you and your customers related to or arising out of any transaction. In case SpectroCoin gets involved into any dispute by any third party you shall indemnify and hold SpectroCoin harmless against any and all liability, claims, suits, losses, costs and legal fees caused by, arising out of, or resulting from any such dispute.
6.10. SpectroCoin is not responsible for quality and delivery of your products/services, support, refunds and returns.
6.11. SpectroCoin may at any time in its sole discretion, without indicating a reason, suspend or terminate functionality of the technical infrastructure used for acceptance of the Currency.
7. RIGHTS AND OBLIGATIONS OF SPECTROCOIN7.1. SpectroCoin may at any time:
7.1.1. change or remove (temporarily or permanently) the Website and other information from the Website without indicating the reasons of such change or removal and you confirm that SpectroCoin shall not be liable to you for any such change or removal.
7.1.2. restrict your usage of the Wallet, if you breach this Agreement or any other law or act in a manner that is unlawfull and threatening to the normal operation of the Wallet.
7.1.3. change this Agreement unilaterally.
7.2. SpectroCoin commits to:
7.2.1. create a secure system for storing the Currency units in accordance with an acceptable international security standards.
7.2.2. store the User's Currency in accordance with terms agreed in this Agreement.
8. RIGHTS AND OBLIGATIONS OF THE USER8.1. The User has a right to:
8.1.1. hold, send and receive the Currency online using the Wallet in accordance with the terms and conditions of this Agreement.
8.2. The User commits to:
8.2.1. accept the risks associated with the Wallet;
8.2.2. use the Wallet in a lawful manner;
8.2.3. pay for SpectroCoin services;
8.2.4. accept this Agreement and act according to it.
8.2.5. not to use our Services or immediately cease using Services if any applicable law in your country prohibits or will prohibit you at any time from doing so.
9. PRICING AND FEES9.1. Holding the Currency, using it for transactions and trading in digital or virtual commodities, goods or products is high risk. By using our services, you represent and warrant that you understand the risks associated with the Currency and digital or virtual commodities, goods or products.
9.2. SpectroCoin service fees (including fees for adding/withdrawing funds to/from the Wallet) are variable. The current pricing schedule and fees are available at spectrocoin.com. SpectroCoin reserves the right to change the pricing and fees at any time without your consent.
9.3. SpectroCoin may offer individual service fee plans to you. In this case SpectroCoin fees applicable to you are determined by such individual service fee plan.
9.4. Our fees are charged in the Currency from your Wallet immediately and automatically once your transaction or other use of our service is completed. We may at any time change the available payment methods.
9.5. SpectroCoin reserves the right to suspend the use of the Wallet/Account or unilaterally charge/set-off overdue payments from your Wallet if you fail to pay for SpectroCoin services within the period agreed in this Agreement.
9.6. It is your responsibility to determine what, if any, taxes apply to your Currency transactions that you engage in by using the Wallet, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. SpectroCoin is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.
9.7. SpectroCoin does not remunerate fees of banks or intermediaries, payment transfer and/or receipt charges or other applicable fees of third parties, therefore the amount of funds you add/withdraw to/from your Wallet may be smaller.
9.8. Payments received in other currency than the currency supported in the User's Account are accepted by converting the currency in the bank selected by SpectroCoin and adding a conversion margin of 5%.
9.9. You can access your invoices and other transactions' excerpts on your Account.
9.10. If SpectroCoin is invoiced for fees due to your Currency transactions with the Wallet, SpectroCoin may demand a refund of these fees from you.
9.11. SpectroCoin reserves the right to demand a fee and/or remuneration from you for the provision of additional services provided by SpectroCoin or third parties acting on behalf of SpectroCoin.
10. REFUNDS10.1. SpectroCoin will not provide any refunds of your Currency for any reason, including, but not limited to, loss of your Currency due to technical reasons, errors, malfunction of the Wallet, transaction failures, etc.
11. FINANCIAL SERVICES DISCLAIMER11.1. SpectroCoin does not provide financial advice in any form and cannot be considered as a financial advisor company, a financial brokerage company or an investment fund. No content, services or products available on our Website or via any form of communication may be taken as a financial advice or a financial/investment recommendation.
11.2. The Website provides content which is general information only. We do not recommend anything available on the Website as an investment. It is possible that you can lose some or all of the money you spend on any services available in the Wallet due to price and/or value fluctuations. Therefore we highly recommend that prior to any action regarding your financials or investment or when in doubt regarding any or all of our services, prior independent professional advice under the local laws of your jurisdiction should be sought.
12. DATA CENTER12.1. Currently SpectroCoin stores your data, including, but not limited to, your Wallet data, in France data center. The data center meets the appropriate security requirements.
12.2. SpectroCoin reserves the right to make both scheduled and non-scheduled maintenance of the data center and the system which hosts the Wallet, update and improve it without giving notice to you. During maintenance the Wallet and associated services may be temporarily unavailable. However, SpectroCoin is not responsible for any damages that may result from the interference of the Wallet's operation under maintenance.
13. SECURITY13.1. We are committed to encrypt and store safely your Wallet data, use firewalls, antivirus software, SSL certificates. We also protect your Wallet with a password and use Google Authenticator for generating verification codes.
13.2. In case of violation of the Wallet's security, we reserve the right to suspend access to the Wallet so that we can ensure further safe and comprehensive functioning of the Wallet.
13.3. We are not responsible for losses incurred due to such a suspension of access to the Wallet.
14. LIABILITY AND INDEMNIFICATION14.1. You are responsible for actions performed by using the Website/Account/Wallet.
14.2. Funds in the Wallet, either received from the User in advance or received due to the sale of the Currency, are not insured by the deposit and investment insurance and are not protected by the laws on e-money and payments.
14.3. 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.
14.4. By exchanging (buying or selling), holding, sending, receiving BNK virtual currency you agree to all Bankera Terms & Conditions.
14.5.You must act in accordance with this Agreement and applicable law and refrain from any action that may cause damage to the Website/Wallet and/or SpectroCoin.
14.6. SpectroCoin shall not be liable in case of loss due to the fact that the User, regardless to SpectroCoin's recommendations and his own commitments, did not get familiar with this Agreement.
14.7. SpectroCoin shall not be liable for an insecure computer and/or internet connection of the User, operation of the virtual currency peer-to-peer network and any virtual currency related software.
14.8. In the case of unauthorized access to the User's Account/Wallet and loss of funds, SpectroCoin does not undertake to remunerate losses to the User. The User must personally refer to the competent authorities.
14.9. TO THE FULL EXTENT PERMISSIBLE BY APPLICABLE LAW, SPECTROCOIN DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. SPECTROCOIN DOES NOT WARRANT THAT SPECTROCOIN SERVICES, INFORMATION, CONTENT, MATERIALS, PRODUCTS (INCLUDING SOFTWARE) OR OTHER SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH SPECTROCOIN SERVICES, SPECTROCOIN'S SERVERS OR ELECTRONIC COMMUNICATIONS SENT FROM SPECTROCOIN ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. SPECTROCOIN 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, SPECTROCOIN 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 SPECTROCOIN, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. YOU AGREE THAT FOR ANY LIABILITY RELATED TO THE SERVICES OF SPECTROCOIN, WHETHER FOR BREACH OF CONTRACT, WARRANTY, NEGLIGENCE, STRICT LIABILITY IN TORT OR OTHERWISE, SPECTROCOIN 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.
14.10. You agree to defend and indemnify SpectroCoin 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.
14.11. SpectroCoin is not responsible for information provided at other websites, even if the User followed links to those websites from the SpectroCoin Website.
14.12. SpectroCoin does not have control of and is not liable for the products or services that are paid for with your Currency or the risks that are associated with your business/transaction partners.
14.13. If SpectroCoin uses an intermediary to collect fees (for example, PayPal, mokejimai.lt, etc.), SpectroCoin does not assume responsibility for such e-money and payment institutions and their business stability, therefore terms and pricing of SpectroCoin services may be subject to change.
14.14. SpectroCoin is not responsible for incorrect payments made by Users (for example, when the User indicates a wrong purpose of payment, transfers funds to a wrong account or specifies incorrect details of a recipient). The verification of incorrect payments may take up to 1 month (depending on the complexity and difficulty of the error).
14.15. SpectroCoin takes no responsibility for and will not be liable for any financial loss arising from the use of your Wallet, including, but not limited to, loss due to technical faults, which result in a loss of ability to access your 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 Wallet/Account; corrupted wallet files or data; incorrectly constructed transactions or mistyped virtual currency/wallet addresses.
14.16. You are responsible for the security and integrity of your Wallet and computers or interfaces. SpectroCoin accepts no responsibility for any loss or damages if you provide SpectroCoin with any wrong or false information, including, but not limited to, incorrect wallet ID's. SpectroCoin is not responsible for payments made to an incorrect wallet address or an incorrect bank account by the User.
15.2. In order to use the Wallet you must provide your personal data that is required in the Account registration or any other form.
15.3. Your personal data that you provide will be used to indentify you as the User and to execute this Agreement. SpectroCoin 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. You expressly authorize SpectroCoin to store, process, use and transmit to third parties the information required to execute this Agreement.
15.4. 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 Website, you will enter only correct data. The User shall bear any losses that occur regarding to the submission of invalid/incorrect data.
15.5. 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.
15.6. SpectroCoin 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.
16. COPYRIGHT16.1. The URLs representing the SpectroCoin Website, “SpectroCoin," and all related logos of our services described in our Website are either copyrighted by SpectroCoin and are trademarks of SpectroCoin. In addition, all page headers, custom graphics, design, button icons, scripts, source code, content are copyrighted by SpectroCoin. You may not copy, imitate, modify, alter, amend or use them without our prior written consent. All the Website's content, including, but not limited to, the Wallet, and any content thereon is the exclusive property of SpectroCoin.
17. TERMINATION (LIMITATION) OF THE AGREEMENT17.1. 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.
17.2. If you choose to terminate the Agreement and close the Account, at the time of your Account cancellation you must provide to us your wallet address in the virtual currency system. We will transfer the remaining Currency in your Wallet to your specified wallet address in the virtual currency system. However, if at the time of your Account cancellation you do not provide the aforementioned wallet address to us, we will still close your Account/Wallet and terminate the Agreement, but will hold your Currency until you provide us with your wallet address in the virtual currency system.
17.3. At any time and for any reason in its sole discretion SpectroCoin may terminate this Agreement, your access to the Website/Wallet, your Account and may halt any pending transactions at any time without notice to you. SpectroCoin shall have no liability or obligation for the termination of this Agreement.
17.4. You may not close your Account to evade an investigation on your fraudulent activities or to avoid other liabilities to SpectroCoin. If you attempt to close your Account while we are conducting an investigation, we may hold your funds to protect SpectroCoin 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.
18. APPLICABLE LAW AND DISPUTE RESOLUTION18.1. 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.
18.2. Any disagreements or disputes of the User and SpectroCoin, arising from this Agreement, shall be settled by negotiations between the User and SpectroCoin. 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 User and SpectroCoin, shall be settled in the competent court of the Republic of Lithuania, according to the registration address of SpectroCoin.
19. MISCELLANEOUS PROVISIONS19.1. The User confirms that he has read this Agreement, understood its terms, conditions and consequences.
19.2. 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.
19.3. All the notices, consents and other communication of the parties related to this Agreement shall be delivered via e-mail or registered post/courrier if SpectroCoin requests such type of delivery.
19.4. If SpectroCoin finds out or suspects that particular User has written misleading information about SpectroCoin in public (like forums, blogs or etc.) or about it's management also if User spoiled or tried to spoil reputation of SpectroCoin services, management, brand or etc. or User has revealed confidential information in public (account numbers, conversations between SpectroCoin and User, balance or etc.), SpectroCoin reserves the right to close user account and/or freeze all User funds until such comments, claims or misleading or other information is deleted. SpectroCoin reserves the right to charge a penalty fee of trading turnover, but no less than 250 000 EUR, if user is or was engaged in such activities.
19.5. SpectroCoin 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 data.