We appreciate your choice of using Bonpay Services.
Please read these Terms and Conditions carefully.1. Scope These Terms and Conditions (hereinafter “Terms”) are a legal agreement (hereinafter “Agreement”) between Bon Solutions LP (hereinafter “we”, “us”, or “our”), registered in and the client (hereinafter “you” or “your”), that enables you for that enables you for defined commission to access our services.
This Agreement or our Website content can be revised at our discretion by posting the revised terms on our Website. We have the right to place or not to place notices on our Website when the changes are made.2. The Bonpay Services These Terms and Conditions may change periodically. In case of any changes made by posting the updated Terms and Conditions on our Website you will be notified. Any changes regarding new functions of Bonpay Services or amendments made for legal reasons are effective immediately. Your use of our Services after the effective date of such changes implies your acceptance of such changes.
Bonpay provides a way to store, use and manage bitcoins, using our Wallet Service. Our Wallet Service may evolve and improve over time. This implies that we may, in our sole discretion, make changes, replace or permanently discontinue our Wallet Services. In this case we will provide you with notice via email or our website.
You can deposit funds to your Bonpay Wallet with cryptocurrency. Your crypto deposit will be available on your balance after certain confirmations from the Bitcoin network. As soon as it is confirmed, the funding is completed and you are free to make any transactions you want. Bonpay cannot and does not guarantee any particular value of cryptocurrency. You acknowledge and accept that the value of bitcoins is highly volatile and that selling, buying, and holding crypto involves high risk.
Wallet Address and Private Key
When you register your Bonpay account, our Services generate and store a cryptographic private and public key pair which you may use to send and receive Bitcoin via the Bitcoin network. The public key generated by the Services serves as your Bitcoin Wallet address, and may be shared with the Bitcoin network and with others to complete Bitcoin transactions. Every time you use your Bitcoin address to make a deposit to your Bonpay wallet, the system will automatically replace it with a newly generated one to ensure the highest level of privacy and security. The private key uniquely matches the wallet address and must be used in connection with the wallet address to authorize the transfer of bitcoins from or to that wallet address. Your private key will be safely stored with the highest level of security.
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.
Custody of Bitcoins
Bonpay is a custodian of any 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.3. Limited License A limited, non-exclusive, non-transferable and defeasible license to access and use of our Services via our Website is provided to you under the condition of your direct following our Legal Terms and AML/KYC rules.
WHETHER THE DISPUTE IS HEARD IN ARBITRATION OR IN COURT, YOU AND WE WILL NOT COMMENCE AGAINST THE OTHER A CLASS ACTION, CLASS ARBITRATION OR REPRESENTATIVE ACTION OR PROCEEDING.16. Disclaimer YOUR USE OF OUR SERVICES AND OUR WEBSITE IS AT YOUR OWN RISK. OUR SERVICES ARE PROVIDED ON AN “AS IS” BASIS WITHOUT ANY KIND OF WARRANTIES. WE DISCLAIM EITHER EXPRESS OR IMPLIED WARRANTIES.
Your further use of our Services or Website after the changes come into force confirms your indisputable admission of these changes.
In case we are not able to verify your information we may ask you to provide an additional one like recent utility bill or other information that helps to identify You.5. Where we store your information All information that you provide us with including your personal information is securely stored on our reliable servers. However, you should be aware that the data transmission over the Internet can not be fully secured and we are not liable for the transfer process of your information to our Website. As soon as we receive your information we follow all sensible procedural and physical safeguard measures to keep it safe against damage, loss, abuse or unauthorized access and change. 6. Information security We provide all necessary security measures to keep your account information safe however, you are responsible for protection of authorization information of your account. You should never share your password or any additional tools which we provided to you that enables your access to certain parts of our Website with third parties, otherwise your account may be compromised. Our agents or agents of our third-parties service providers will never ask you to provide your password or any additional tools information. if You receive any request concerning disclosure of your password or any additional tools information you should ignore it and immediately inform us about such request. If you are aware that your password has been compromised you should change it right away and contact us. 7. Information Sharing The disclosure or sharing of your information with third parties is allowed only for the cases:
Pursuant to high volumes of funds being laundered in the UK and other countries worldwide, there has been prepared legislation and rules to help in averting money laundering and combating terrorism.
AML/CTF guidelines for UK companies were arranged to comply with these rules and regulations and define charges and fines for not being able to comply.
Meanwhile Bonpay are currently unregulated and is not subject to AML/CTF obligations in the UK, the senior management have worked on introduction of processes that comply with UK AML legislation.
This act represents Bonpay desire to prevent money laundering and not allow to hide criminal proceeds in any way using our service.
Bonpay will therefore screen against UN, EU, OFAC sanctions lists in all jurisdictions in which we operate.