Terms of Use

Effective Date: 6 April 2018
These Terms of Use shall apply to your use of the services provided by Bon Solutions LP (registered office: 75 King William St, London, EC4N 7BE, UK) (“BONPAY”, and such services, the “Service”). By accepting these Terms of Use or otherwise using the service, you agree to the terms and conditions in these Terms of Use, whether or not You are a registered as a user on our Web-site.
These Terms of Use constitute a legal agreement between BONPAY (“we”, “us”, “our”) and users, clients, visitors and others, who access the Web-site or use the Services (“User” “You”, “Your”), that enables You to access our Web-site and Services.
If You disagree with these Terms of Use or Privacy Policy, please do not use Services.
BONPAY reserves the right to update and change these Terms of Use from time to time without notice. Any changes will be effective from the day of posting of the revised Terms of use on the Website. Any new features that augment or enhance the current Service, including the release of new tools and resources, shall be subject to these Terms of Use. Continued use of the Service after any such changes shall constitute your consent to such changes. You can review the most current version of these Terms of Use at any time at https://bonpay.com.
BONPAY may at any time change (temporary or permanently) the Website or any of provided Services at its sole discretion with or without notice and you agree that Bonpay shall not be liable to you for such changes.
Your personal information providing to the BONPAY via the Service or arising in connection with the Service is protected according to the Privacy Policy.
In some cases, reference to this Terms of Use includes reference to the Privacy Policy, Terms of Wallet Use, Cookies Policy, AML/KYC Policy and other accompanying documents.
BONPAY does not transact business with individuals, companies and countries that are on prescribed Sanctions list. BONPAY will therefore screen against United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) Sanctions list in all jurisdictions in which we operate.
BONPAY SERVICES
BONPAY provides the Service as follows:
BONPAY Wallet. BONPAY Wallet is a secure digital wallet used to store, send, and receive cryptocurrency, like Bitcoin, Ethereum, Litecoin, etc. In fact, cryptocurrency itself is not actually “stored” in a wallet. Instead a private key (secured digital code linked to your wallet) is stored and shows the ownership of linked to it (and hence to the wallet) public keys (a public digital code connected to a certain amount of currency). So, your wallet allows you to send and receive coins, and also acts as a personal ledger of transactions. Private key (private secure digital code linked to your public keys and hence to your wallet) will be safely stored with the highest level of security. The detailed Terms of Wallet Use is available at the Web-Site. Access to BONPAY Wallet is available via the User’s Account.
BONPAY Card. The BONPAY Card allows our clients to make transactions wherever debit cards, issued by the card network shown on the card, are accepted. When You order and activate Your BONPAY Card, the card will be linked directly to Your BONPAY Account. In order to make a transaction using BONPAY Card, You have to sell the needed amount of Bitcoin from Your BONPAY Account and load Your BONPAY Card with these funds. These specific BONPAY Card terms as well as the terms of the card program manager, presented at the time You order Your card, apply to the BONPAY Card. For usage of the BONPAY Card the terms of use approved by the payment system “VISA” shall be applied.
Custody of Bitcoins/Other Cryptocurrencies. BONPAY is a custodian of all bitcoins transferred to BONPAY Accounts. BONPAY does not obtain any legal or beneficial right, title or interest in Your bitcoins stored in Your Account. But unless and until You have verified Your identity with BONPAY and BONPAY has determined that Your use of BONPAY Services complies with applicable laws, You may be restricted in Your ability to use BONPAY Services.
BONPAY is entitled to provide the Users with additional Services related to ones mentioned above. Some of these Services may be available for all Users.
USER ACCOUNT
For the purpose of proper use of the Website and access to the Services, You should register on the Website and create an Account with Your respective login and password. We reserve the right to refuse to register a new user without indicating the reasons. You warrant that any and all information provided for the purpose of Your Account creation and/or any other Website use is valid, current, complete and accurate.
Verification is not obligatory for the functioning of Your Account. However, in this case some functionality is unavailable to You. The verification request shall be processed within 14 business days or more in some cases. To complete Your Account verification, You need to verify Your personality, residential address, identity, phone number, e-mail. In some cases, additional information may be required.
The information that You provide at the time of Account opening must be accurate and complete and You must inform us in a proper time of any changes to such information. You also confirm that all the documents submitted by you are correct and valid. We may require additional information from You to help verify Your identity and assess Your business risk, such as Your date of birth, tax identification number, government-issued identification, etc. If You do not provide us with accurate, complete, and satisfactory information, we will empower to refuse or postpone verification procedure.
You hereby expressly consent that You are solely responsible for the use of Your login and password for the Account, for any registration data provided for Account creation, and for any actions done during any use of Your Account. You agree to keep Your login information and password private and to immediately notify us of any unauthorized Account activity. You may be aware of and modify Your login information respectively. You hereby agree not to use a password for your BONPAY account that you have already used for other services. You are solely responsible for not keeping Your password secret and secure, providing the access to Your Account to third parties, any other deliberate or negligent behavior that resulted in loss of the Account and any loss or damage You or BONPAY may suffer as a result of Your failure to keep Your password safe. If you share Your Credentials with the third party, You agree that You will liable for all transactions using the Services and for all costs, losses or damages incurred by BONPAY by this reason.
You are solely responsible for any errors or omissions that you or any third party with access to your BONPAY account make in connection with any transaction via the Services.
You may deactivate Your registration with the Website at any time by withdrawing Your Account balances and contacting us at: [email protected] Termination of the Account will include denial of access to the Services. We retain the information provided by you during the verification process for anti-money laundering purposes for five (5) years from the date of the Account closure. The information will be treated as confidential unless disclosure is required to comply with the applicable law.
We reserve the right to temporary suspend the provision of services or lower Your BONPAY Wallet or Card limits at our sole discretion in the following cases:

 

  • we have reasonable suspicions that you violate these Terms of use;
  • Your account is being used in a fraudulent manner;
  • we have any security concerns regarding Your Bonpay Wallet and/or Card;
  • additional verification procedures are required for AML purposes;
  • You fail to pay for BONPAY Services;
  • any transaction causes the balance in Your BONPAY account go negative.

You will get the access to the Services as soon as the indicated above reasons or suspicions cease to exist.

We may terminate Your use of and registration with the Website or freeze any transactions on Platform at any time if You violate these Terms or any other accompanying documents, at our sole discretion and without prior notice and without any liability or further obligation of any kind whatsoever to You or any other party, when we find such measures reasonable and/or necessary in a particular situation, without any refunds.
Where we find suspicious information that indicates possible money laundering, terrorist financing or other suspicious activity, we will report that activity in accordance with applicable laws and regulations.
The Services may include certain communications from us, such as service announcements, administrative messages and newsletters. They may be posted on the Web-site, sent by e-mail or sent as an SMS-message. You agree, that these communications are part of the Services use. You may opt out from receiving newsletters, however, You will not be able to opt-out from receiving service announcements and administrative messages. You are solely responsible for the acquaintance with the announcements and administrative messages and for the updating of the communication credentials (e-mail address and phone number). You understand and agree that if we send You a message but You do not receive it because of not updating Your e-mail address or phone number by You, BONPAY will be deemed to have provided the message to You.
INTELLECTUAL PROPERTY RIGHTS
BONPAY exclusively owns all rights, title, and interest in the “BONPAY” name, “BONPAY” logo, the names of individual Services and their logos, patents, copyrights (including rights in derivative works), trademarks or service marks, logos and designs, trade secrets, and other intellectual property embodied by, or contained on the Web-site and relating Web-pages, documentation etc.
You shall never use any BONPAY logos or marks for commercial and public use without our express permission, unless otherwise explicitly indicated by BONPAY. You shall not copy, reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store, transmit or otherwise use any of the BONPAY logos or marks. You also shall not make any public statement or issue any press release related to BONPAY services without our express permission. There are no implied licenses under these Terms of Use and all accompanying documents, and any rights not expressly granted to You hereunder are reserved by BONPAY. Under these Terms of Use You are entitled to use any BONPAY logos or marks for Your personal, non-commercial purposes exclusively.
You are an owner of the content created or stored by You. We may only access, copy, distribute, store, transmit, reformat, publicly display and publicly perform the content of Your Account solely as required for the purpose of providing the Services to You. We may not otherwise use Your content, unless we receive Your explicit consent. We shall not be liable or responsible for any content created or stored by You.
LICENSE GRANTED TO YOU
BONPAY grants you a revocable, non-transferrable, non-exclusive license to download, install and use its mobile apps for your own purposes. Any mobile app license is subject to any limitations or restrictions on the permitted use of the mobile app contained in the Online Store Terms where you downloaded the app. This license grant includes the software and all updates, upgrades, new versions and replacement software for your personal use only. You may not rent, lease or otherwise transfer your rights in the software to a third party. You agree not to alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the software. You acknowledge that all rights, title and interest to BONPAY’s software are owned by BONPAY.
SECURITY
We have implemented commercially reasonable technical and organizational measures designed to secure your personal information and other information from accidental loss and from unauthorized access, use, alteration or disclosure. However, we cannot guarantee that unauthorized third parties will never be able to defeat those measures or use your personal information and other information for improper purposes. You acknowledge that you provide your personal information at your own risk.
SERVICE LIMITATION
BONPAY is not a bank and the Services are virtual currency payment processing services rather than banking services. BONPAY is not acting as a trustee, fiduciary. BONPAY does not have control of, nor liability for, the products or services that are paid for with the Services. We do not guarantee the identity of any User.
RESTRICTED ACTIVITIES
In connection with your use of the Service, or in the course of your interactions with BONPAY, You will not:

 

  • Breach this Terms of Use or any other Private Policy and similar policies approved by BONPAY and agreed by You.
  • Violate any law, statute, ordinance, or regulation.
  • Infringe BONPAY’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy.
  • Sell counterfeit goods.
  • Act in a manner that is defamatory, trade libelous, threatening or harassing to our employees, agents or other Users.
  • Provide false, inaccurate or misleading Information.
  • Engage in potentially fraudulent or suspicious activity and/or transactions.
  • Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us.
  • Control an account that is linked to or belong to another User.
  • Disclose or distribute another User’s information to a third party, or use the information for marketing purposes unless you receive the User’s express consent to do so.
  • Take any action that imposes an unreasonable or disproportionately large load on our infrastructure.
  • Write misleading information about BONPAY in public, spoil or try to spoil reputation of BONPAY’s Services.
  • Facilitate any viruses, trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information.
  • Use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our website without our prior written permission.
  • Use any device, software or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with our website or the Service.
THIRD PARTY CONTENT
You may be offered services, products provided by third parties, links to third parties’ web-sites, web-pages and applications. We recommend You to read the terms of use of the respective third-party Web-sites, if You decide to use these third-party services.
You hereby consent, that You use such third-party services at Your own risk and You are solely responsible for reviewing, understanding and complying with the associated terms and conditions. We expressly disclaim any liability for performance and provision of the third-party services.
REPRESENTATIONS AND WARRANTIES
To use the Services, You shall comply with the following eligibility criteria and restrictions. Thus, by registering an Account, You expressly covenant, represent and warrant, that:

 

  • You are at least 18 years old, comply with all other eligibility and residency criteria.
  • You have full capacity and legal competence to use the Web-site and the Services and to contract, under the Applicable Law and law of the country of Your residence, with BONPAY and in doing so will not violate any other agreement, which You are a party to.
  • You are aware with cryptographic tokens, cryptocurrency and Blockchain-based systems, their storage and transmission mechanisms, full framework and functionality, and You solely take responsibility for any risks, assumptions and decisions involved.
  • You fully understand all merits, risks and any restrictions associated with cryptographic tokens (their purchase and use), cryptocurrency and Blockchain-based systems, and You are solely responsible for any evaluations based on such knowledge.
  • If You are representing a corporation, governmental organization or other legal entity, You have the legal right, power and authority, confirmed by respective documents to enter into this agreement on behalf of such legal entity and bind them to these terms.
  • You will not use the Services for any illegal activity and You have never conceivably been, engaged in any fraudulent, deceptive and illegal activity, including but not limited to: money laundering and the financing of terrorism.
  • You will not perform acts aimed at a breach of the normal functioning of the Service or the Web-site both by means of software and through Your direct acts within the Service/Web-site.
  • You will not disseminate, launch or use viruses, Trojan horses, and other malware within the Service or the Web-site; and You will not use automated programs and scripts in particular, for the collection of the information on the other Users or the Service.
  • You will not perform any acts having the nature of threats, endangering, harassment, discrimination, abuse, deceit, or some other unlawful influence on the other Users; breaching the rights and legal interests of the other Users.
  • You will not place any materials (content, files) anywhere within the Service, which: propagandize war, violence, discrimination by ethnicity, race, religion, gender or any other reason; propagandize criminal activities; mislead the other Users; contain any other prohibited, abusive, fraudulent or any other illegal information.
  • You will be liable for all costs, losses and expenses incurred by us by reason of an unauthorized use of your Account as a result of Your acting fraudulently or failing to comply with these Terms of use. Thus You confirm You will reimburse all such costs, losses and expenses to BONPAY during 5 (five) banking days from the date of our first demand.
If You breach any of the covenants, representations and warranties under the Terms of Use or the applicable laws, We may terminate Your Account and take legal actions under the Applicable Law and these Terms.
INDEMNIFICATIONS
You hereby agree to indemnify BONPAY, any of its officers, directors, employees and agents and its affiliated and related entities from and against any claims, costs, losses, liabilities, damages, expenses and judgments of any and every kind arising out of, relating to, or incurred in connection with any claim, complaint, audit, inquiry, or other proceeding, that arises or relates to: (a) any actual or alleged breach of Your representations, warranties, or obligations set forth in these Terms of Use; (b) Your wrongful or improper use of the Services; (c) any other party’s access or use of the Services with Your Account information; (d) arising out of a breach of any warranty, representation, or obligation hereunder.
You shall not have any claim of any nature whatsoever against BONPAY for any failure to carry out any of our obligations under these Terms of Use as a result of Force Majeure – causes beyond our control, including but not limited to any strike, lockout, shortage of labor or materials, delays in transport, in securing any permit, consent or approval required by BONPAY, for the supply of products, delay by any sub-contractor or supplier of ours accidents of any kind, riot, political or civil disturbances, the elements, by an act of state or government including regulatory action imposed or any other authority or any other cause whatsoever beyond our absolute and direct control.
DISCLAIMERS
BONPAY works with Blockchain-based technologies, Bitcoin, Ethereum, Litecoin and other associated and related technologies which are not exclusively controlled by us and technological, regulatory, market or other changes may affect the work of BONPAY Services, which relate to Blockchain technologies. Therefore, by registering an Account with BONPAY, You accept that BONPAY shall not be deemed liable, and we disclaim any and all our responsibility for Your unavailability or restrictions to use the Services due to: (a) regulatory changes, including but not limited to changes in intellectual property law or Applicable Law or local law of the country of Your residence; (b) technological advancements, decreases or any other changes, which may cause Bitcoin, Ethereum, Litecoin and other Blockchain-based technologies may dissolve, disappear, be abandoned or otherwise no longer operate, or operate with material impairments; (c) market changes, which may result in the fluctuations of market values, including, but not limited to Bitcoin, Ethereum, Litecoin etc; (d) any other social, political reforms, possible changes and risks, which may somehow affect Blockchain-based technologies, are out of our direct or absolute control, and, consequently, partly or absolutely restrict You from accessing and/or using the Services.
We or our affiliates make no representations or warranties and assume no liability for the proper performance of any Services and/or the information, images or audio contained or related to the Website. You use all of the mentioned at Your own risk. We will take reasonable steps to exclude any viruses or defects from the Website, but cannot guarantee or warrant the Website will be free from infection, viruses and/or other code that has contaminating or destructive properties, defects will be corrected and accordingly no liability is accepted for defects and viruses. You agree that the content of the Website may not be entirely accurate, complete and current and you should verify all the information before relying on it. You are solely responsible for all the decisions You make based on the information contained on the Website. To provide You with accurate, complete and current information we may change the information on the Website from time to time as need be.
BONPAY is not a financial institution and is currently not under supervision of any financial supervisory authority. We do not provide any licensed financial services, as well as we do not act as an advisor, including as to any financial, legal, investment, insurance and/or tax matters. Any information provided by BONPAY is for general comprehension.
LIMITATION OF LIABILITY
THE WEBSITE AND THE SERVICES ARE PROVIDED ON AN “AS IS” BASIS AND WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESSED OR IMPLIED. YOU ASSUME ALL RESPONSIBILITY AND RISK WITH RESPECT TO YOUR USE OF THE WEBSITE AND SERVICES. TO THE MAXIMUM EXTENT PERMITTED BY THE APPLICABLE LAW, WE OR OUR AFFILIATES DO NOT ACCEPT ANY LIABILITY FOR ANY DAMAGE OR LOSS, INCLUDING LOSS OF BUSINESS, REVENUE, OR PROFITS, OR LOSS OF OR DAMAGE TO DATA, EQUIPMENT, OR SOFTWARE (DIRECT, INDIRECT, PUNITIVE, ACTUAL, CONSEQUENTIAL, INCIDENTAL, SPECIAL, EXEMPLARY OR OTHERWISE), RESULTING FROM ANY USE OF, OR INABILITY TO USE, THIS WEBSITE AND THE SERVICES OR THE MATERIAL, INFORMATION, SOFTWARE, FACILITIES, SERVICES OR CONTENT ON THIS REGARDLESS OF THE BASIS, UPON WHICH THE LIABILITY IS CLAIMED.
IF APPLICABLE LAW DOES NOT ALLOW ALL OR ANY PART OF THE ABOVE LIMITATION OF LIABILITY TO APPLY TO YOU, THE LIMITATIONS WILL APPLY TO YOU ONLY TO THE EXTENT PERMITTED BY APPLICABLE LAW. YOU UNDERSTAND AND AGREE THAT IT IS YOUR OBLIGATION TO ENSURE COMPLIANCE WITH ANY LEGISLATION RELEVANT TO YOUR COUNTRY OF DOMICILE CONCERNING USE OF THE WEBSITE, AND THAT YOU SHOULD NOT ACCEPT ANY LIABILITY FOR ANY ILLEGAL OR UNAUTHORIZED USE OF THE WEBSITE. YOU AGREE TO BE SOLELY RESPONSIBLE FOR ANY APPLICABLE TAXES IMPOSED UNDER YOUR TAX RESIDENCY REGULATIONS.
IN NO EVENT SHALL OUR COMPANY, OUR DIRECTORS, MEMBERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY LOSS RESULTING FROM HACKING, TAMPERING, VIRUS TRANSMISSION OR OTHER UNAUTHORIZED ACCESS OR USE OF THE SERVICES, YOUR ACCOUNT, OR ANY INFORMATION CONTAINED THEREIN; FOR PRODUCTS NOT BEING AVAILABLE FOR USE; FOR IMPROPER FUNCTIONALITY, TECHNICAL FAULTS AND DOWNTIME OF THE TECHNICAL INFRASTRUCTURE.
WE DO NOT GUARANTEE CONTINUOUS, UNINTERRUPTED OR SECURE ACCESS TO BONPAY SERVICES AND YOU ACKNOWLEDGE AND AGREE THAT THE WEBSITE MAY BE INTERFERRED WITH BY NUMEROUS FACTORS OUTSIDE OF OUR CONTROL.
APPLICABLE LAW AND DISPUTES RESOLUTION
These Terms of Use and other relationships between You and BONPAY shall be governed by the law of Scotland.
All disputes and disagreements that might arise from these Terms of Use shall be resolved by means of negotiations. You agree that for the purposes of the settlement of disputes between You and BONPAY, an e-mail correspondence with the authorized persons of BONPAY at: [email protected] shall be the effective and binding method of communication.
If the Parties cannot agree on the subject of the dispute within thirty (30) days, the dispute shall be shall be referred to and finally resolved by arbitration under the LCIA Rules, which Rules are deemed to be incorporated by reference into this clause. The number of arbitrators shall be one. The seat, or legal place, of arbitration shall be London. The language to be used in the arbitral proceedings shall be English. The governing law of the contract shall be the substantive law of England and Wales.
To the extent allowed by the applicable law, You agree that you will bring any claim arising from or connected with these Terms of use within one (1) year from the date of which such claim arose. Otherwise such claims will be irrevocably waived.
UNCLAIMED PROPERTY
In the event of a specified period of inactivity by you BONPAY may be required to report any funds on your account as unclaimed property in accordance with applicable law.
In such case BONPAY will try to contact you using the communication credentials provided by you. With no your response during 7 (seven) working days after our requesting you, BONPAY may be required to deliver such funds to the applicable jurisdiction as unclaimed property.
BONPAY reserves the right to deduct a fee from your funds for contacting you and making a report according to the applicable law.
MISCELLANEOUS
Severability. These Terms of Use shall supersede any other arrangements between the Parties as well as all prior versions thereof. Should any provision of these Terms of Use (a clause or a statement within a clause) be void, unenforceable or legally invalid otherwise, it shall not affect any other provision hereof, or these Terms of Use as a whole.
Waivers. Our failure to assert any right or provision in these Terms of Use shall not constitute a waiver of such right or provision, and no waiver of any term shall be deemed a further or continuing waiver of such or other term.
Taxes. You are responsible for determining any and all taxes assessed, incurred, or required to be collected, paid, or withheld for any reason in connection Your use of our software and services. You also are solely responsible for collecting, withholding, reporting, and remitting correct Taxes to the appropriate tax authority.
Amendments. We are entitled to make amendments or additions to these Terms of Use unilaterally at any time without any special notice by placing a new version hereof on the website. The new version of the Terms shall come into force at the moment it is placed on the Website, unless otherwise provided by the new version thereof.
Assignment. You may not assign any rights and/or licenses granted under these Terms of use. We reserve the right to assign our rights without restrictions to any party we may deem fit.
Termination. These Terms of Use shall be valid till replaced by a new one or terminated by BONPAY. Notwithstanding anything contained herein, we reserve the right, without notice and at our sole discretion, to terminate these Terms of Use or suspend Your right to access the Website, including (but not limited to) in case of Your breach of these Terms of Use or if the Company believes You have committed fraud, negligence or other misconduct. You are solely responsible for properly canceling your Account. You can cancel your Account at any time by sending a request to [email protected] considering the requirements hereof. All information or other data located in your account will be immediately deleted from the active and passive instances of the Service upon cancellation, otherwise defined hereof.
Headings. Headings of the Sections are for convenience only and shall not be used to limit or construe such sections. All the sections in the agreement shall survive any termination or expiration of these Terms.
Feedback. You represent and warrant that You own all intellectual property rights to provide Your Feedback. If you provide any feedback to BONPAY concerning the functionality and performance of the Service (including identifying potential errors and improvements), whether by e-mail, posting through our Services or otherwise, you hereby assign to BONPAY all rights, title, and interest in and to the feedback, and BONPAY is free to use the feedback without payment or restriction.
Contact. Should You have any questions regarding the use of the Website or regarding these Terms of Use, please send us an e-mail at [email protected]