BFREE USER AGREEMENT
Effective Date: 17/04/2022

Welcome to Bfree! These Terms of Use (referred to as "Terms") govern your use of Bfree Services. By accessing, downloading, or utilizing any Bfree Services, you (referred to as "you" or "your") agree to abide by these Terms and our Privacy Policy. You also acknowledge that additional terms and conditions may apply to specific features of the Services. Please review these Terms carefully as they contain essential provisions, including an arbitration clause that mandates the resolution of all claims through arbitration. This clause is detailed under "CUSTOMER FEEDBACK, QUERIES, COMPLAINTS, AND DISPUTE RESOLUTION." As with any asset, the values of Digital Currencies and their derivatives may fluctuate significantly, posing a substantial risk of economic losses during transactions. By using Bfree Services, you acknowledge and agree that:

1) You understand the risks associated with Digital Currencies and their derivatives transactions.
2) You assume all risks related to the use of Bfree Services and transactions involving Digital Currencies and their derivatives.
3) Bfree shall not be held liable for any such risks or adverse outcomes.
Bfree expressly disclaims liability for damages arising from the use, reference to, or reliance on any information contained within the site. While efforts are made to update the information periodically, no guarantee is given regarding its correctness, completeness, or timeliness. Links on the Bfree Website to other Internet resources, including websites, are provided for convenience. However, Bfree is not responsible for the accuracy or content of information contained on these external sites. Inclusion of links or advertisements on the Website does not constitute an endorsement by Bfree, and Bfree does not verify claims made by advertisers. Product information is based solely on material received from suppliers. By accessing, using, or attempting to use Bfree Services, you acknowledge and agree to be bound by these Terms. If you do not agree, please refrain from accessing Bfree or utilizing its services.
I. DEFINITIONS
1. Bfree
Bfree is a diverse Platform comprising Bfree websites (whose domain names include but are not limited to (https://www.Account.Bfree.cards), mobile applications, clients, applets and other applications that are developed to offer Bfree Services, and includes independently operated platforms, websites and clients within our ecosystem (e.g Card payment and fiat gateways). In case of any inconsistency between relevant terms of use of the above platforms and the contents of these Terms, the respective applicable terms of such platforms shall prevail.
2. Bfree Operators
Bfree Operators encompass all entities involved in operating Bfree, including legal entities, unincorporated organizations, and teams providing Bfree Services and bearing responsibility for such services. Unless explicitly stated otherwise, references to "Bfree" and "we" in these Terms specifically denote Bfree Operators.
UNDER THESE TERMS, BFREE OPERATORS MAY CHANGE AS BFREE'S BUSINESS EVOLVES. IN SUCH CASES, THE ALTERED OPERATORS SHALL FULFILL THEIR OBLIGATIONS UNDER THESE TERMS WITH YOU, PROVIDING SERVICES ACCORDINGLY. SUCH CHANGES DO NOT IMPACT YOUR RIGHTS AND INTERESTS UNDER THESE TERMS.MOREOVER, THE SCOPE OF BFREE OPERATORS MAY EXPAND WITH THE INTRODUCTION OF NEW BFREE SERVICES. IF YOU CONTINUE USING BFREE SERVICES, IT IS CONSTRUED THAT YOU HAVE CONSENTED TO JOINTLY EXECUTE THESE TERMS WITH THE NEWLY ADDED BFREE OPERATORS. IN THE EVENT OF A DISPUTE, YOU ARE RESPONSIBLE FOR DETERMINING THE ENTITIES WITH WHOM THESE TERMS ARE ENACTED, AND THE PARTIES INVOLVED IN THE DISPUTE. THIS DETERMINATION IS BASED ON THE SPECIFIC SERVICES YOU UTILIZE AND THE ACTIONS THAT DIRECTLY AFFECT YOUR RIGHTS OR INTERESTS.
3. Bfree Services
Bfree services refer to various services provided to you by Bfree that are based on Internet and/or blockchain technologies and offered via Bfree websites, mobile applications, APIs, clients and other forms (including new ones enabled by future technological development). Bfree Services include but are not limited to such Bfree Platform components as Digital Asset Trading Platforms, Bfree Hub, Bfree Academy, Bfree App and Fiat Gateway, as well as novel services to be provided by Bfree.
4. Bfree Platform Rules
Bfree platform rules refer to all rules, interpretations, announcements, statements, letters of consent and other contents that have been and will be subsequently released by Bfree, as well as all regulations, implementation rules, product process descriptions, and announcements as published by Bfree or within the products or service processes.
5. Digital Currencies
Digital currencies refer to encrypted or digital tokens or cryptocurrencies with a certain value that are based on blockchain and cryptography technologies and are issued and managed in a decentralized form.
6. Digital Assets
Digital Assets refer to Digital Currencies, their derivatives, or other types of digitalized assets with a certain value.
7. Bfree Accounts
Bfree Accounts refer to the foundational virtual accounts, including main accounts and subaccounts, which are opened by Bfree for Users to record on Bfree their usage of Bfree Services, transactions, asset changes and basic information. Bfree Accounts serve as the basis for Users to enjoy and exercise their rights on Bfree. This may be used interchangeably with Bfree Wallet and Bfree Wallet account.
8. Fiat To Fiat Trading
Fiat to Fiat Trading refers to spot transactions in which Digital Currencies are exchanged for fiat currencies or vice versa.
II. GENERAL PROVISIONS
1. Contractual Relationship
These Terms constitute a legal agreement and create a binding contract between you and Bfree Operators.
2. Supplementary Terms
Due to the rapid development of Digital Currencies and Bfree, these Terms between you and Bfree Operators do not enumerate or cover all rights and obligations of each party, and do not guarantee full alignment with needs arising from future development. Therefore, THE PRIVACY POLICY, BFREE PLATFORM RULES, AND ALL OTHER AGREEMENTS ENTERED INTO SEPARATELY BETWEEN YOU AND BFREE ARE DEEMED SUPPLEMENTARY TERMS THAT ARE AN INTEGRAL PART OF THESE TERMS AND SHALL HAVE THE SAME LEGAL EFFECT. YOUR USE OF BFREE SERVICES IS DEEMED YOUR ACCEPTANCE OF THE ABOVE SUPPLEMENTARY TERMS. Change of terms Bfree reserves the discretion to alter or amend these Terms, with updates available at, https://www.accounts.bfree.card along with adjustments to the [Last revised] date on the webpage. Any modifications or revisions to these Terms will be effective upon their publication on the website or dissemination to users. Therefore, your ongoing use of BFREE services implies your acceptance of the modified terms and regulations. If you disagree with any changes to these Terms, you must cease using BFREE services immediately. It is advised that you regularly review these Terms to ensure your comprehension of the conditions that govern your access to and utilization of BFREE services.
3. Account Registration:
Before utilizing Bfree Services, all users must apply for a Bfree Account here on our signup page. Upon registering a Bfree Account, users must furnish the requested information as per Bfree's requirements and consent to these Terms, the Privacy Policy, and other Bfree Platform Rules. Bfree retains the authority to approve or reject an Account registration. Users commit to supplying complete and accurate information during the Bfree Account setup process and agree to promptly update any provided information to ensure its integrity and accuracy. Each user, whether a natural person, business, or legal entity, may maintain only one primary account at any given time. Bfree may permit the creation of more than one Account per user and shall not be held responsible for any issues arising from the registration of secondary accounts under a prior user's name.
4. Eligibility
By registering to utilize a Bfree Account, you affirm and assure that (i) if registering as an individual, you are either at least 18 years old or meet the legal age requirement to enter into a binding contract as per applicable laws; (ii) if registering on behalf of an individual, legal entity, or other organization, you possess full legal capacity and adequate authorization to agree to these Terms; (iii) you have not been previously suspended or barred from utilizing Bfree Services; (iv) you do not presently hold a Bfree Account; (v) if representing a legal entity as an employee or agent, and entering into these Terms on its behalf, you guarantee that you possess all requisite rights and authorizations to legally bind said entity; (vi) your utilization of Bfree Services will not contravene any laws or regulations applicable to you, encompassing but not limited to regulations concerning anti-money laundering, anti-corruption, and counter-terrorist financing. If, as a parent or guardian, you become aware that your child or ward has provided us with information without your consent, please reach out to us using the contact details outlined in the Privacy Policy.
5. Identity Verification
Your registration for a Bfree account signifies your consent to provide necessary personal information for identity verification purposes. This information will be utilized to authenticate users' identities, detect instances of money laundering, terrorist financing, fraud, and other financial crimes within Bfree's framework, or for other lawful intents specified by Bfree. We will handle, utilize, and disclose such information in accordance with our Privacy Policy. Alongside providing this information, you agree to permit us to retain a record of such data for the duration of your account's activity and up to five (5) years following its closure, adhering to global industry standards for data retention. Furthermore, you authorize us to conduct essential investigations, either directly or through third parties, to verify your identity or safeguard you and/or us against financial crimes like fraud. The details necessary for identity verification may encompass, but are not limited to, your name, email address, contact details, phone number, username, and date of birth.
Post-registration, it is imperative to ensure the accuracy, completeness, and timeliness of the provided information. If there are grounds to suspect that any provided information is incorrect, false, outdated, or incomplete, Bfree reserves the right to issue a notice requesting correction, directly remove the relevant data, and, if necessary, suspend all or part of the Bfree services provided to you. In the event that we cannot reach you via the provided contact information, you will bear full responsibility for any losses or expenses incurred by Bfree during your utilization of Bfree services. You hereby acknowledge and accept the obligation to promptly update all information in the event of any changes. By registering an account, you grant Bfree authorization to conduct investigations deemed necessary, either directly or through third parties, to verify your identity or safeguard you, other users, and/or Bfree from fraud or other financial crimes, and to take requisite actions based on the outcomes of such investigations. Additionally, you acknowledge and consent to the potential disclosure of your personal information to credit bureaus and agencies for fraud prevention or financial crime detection, with these entities responding to our inquiries in full.
Moreover, we may impose a waiting period following the completion of a transaction before granting access to further Bfree services and/or permitting transactions exceeding certain volume limits. This may involve authorizing your wireless operator (such as MTN Nigeria, Globacom, 9mobile, Airtel, or any other branded wireless operator) to utilize your mobile number, name, address, email, network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI), and other subscriber status details, if available, solely for the purpose of verifying your identity and cross-referencing the information provided to Bfree with your wireless operator account profile information throughout the business relationship.
6. Accessibility
To access the Bfree Services, you must have the necessary equipment (such as a smartphone, tablet, computer) and the associated telecommunication service subscriptions to access the Internet. The Bfree Services can be accessed directly using the Bfree websites (whose domain names include but are not limited to https://www.Account.Bfree.cards, mobile applications, clients, applets and other applications that are developed to offer Bfree Services, and includes independently operated platforms, websites and clients within our ecosystem (e.g fiat gateways).
7. Account Usage
The Bfree Account is exclusively for use by the individual who registered the account. Bfree retains the authority to suspend, freeze, block, or cancel the usage of Bfree Accounts by individuals other than the account registrant. If you suspect or discover any unauthorized use of your username and password, it is imperative to notify Bfree promptly. Bfree bears no responsibility for any loss or damage resulting from the use of your Bfree Account by you or any third party, whether authorized or unauthorized.
8. Account Security
Bfree is dedicated to upholding the security of User funds and has implemented industrystandard protection for Bfree Services. Nevertheless, individual User actions can present risks. You must agree to treat your access credentials (such as username, password, PIN, and 2FA security key) as confidential and refrain from disclosing them to any third party. Additionally, you accept sole responsibility for implementing necessary security measures to safeguard your Bfree Account and personal information.
You are solely accountable for the safety of your Bfree Account and password and bear responsibility for all transactions conducted under your Bfree Account. Bfree holds no liability for any losses or consequences resulting from the authorized or unauthorized use of your account credentials, including but not limited to information disclosure, consent to various rules and agreements through website clicks, online agreement renewals, and more.
By creating a Bfree Account, you agree to the following:
i. Promptly inform Bfree if you become aware of any unauthorized use of your Bfree Account and password or any security rule violations.
ii. Adhere strictly to all of Bfree's mechanisms or procedures concerning security, authentication, trading, charging, and withdrawal.
iii. Take appropriate measures to log out from Bfree at the conclusion of each session.
III. BFREE SERVICES
Upon completion of the registration and identity verification for your Bfree Account, you may use various Bfree Services, including but not limited to, Crypto-to-crypto Trading, Fiat Trading, Bfree Savings services and other information released by Bfree, participating in User activities held by Bfree, etc., in accordance with the provisions of these Terms (including Bfree Platform Rules and other individual agreements). Bfree has the right to: 1.) Provide, modify or terminate, in its discretion, any Bfree Services based on its development plan; and 2.) Allow or prohibit some Users' use of any Bfree Services in accordance with relevant Bfree Platform Rules.
Bfree Service Guidelines
1. License
Provided you consistently adhere to the explicit terms and conditions outlined in these Terms, Bfree grants you a revocable, limited, royalty-free, non-exclusive, non-transferable, and nonsublicensable license to access and utilize Bfree Services via your computer or Internetcompatible devices for your personal or internal purposes. It is expressly prohibited to utilize Bfree Services for resale or commercial purposes, including transactions on behalf of other individuals or entities. Engaging in any of the aforementioned actions is strictly prohibited and constitutes a material violation of these Terms. The content layout, format, functionality, and access rights concerning Bfree Services shall be determined at the discretion of Bfree. Bfree reserves all rights not explicitly granted in these Terms. Thus, you are hereby forbidden from utilizing Bfree Services in any manner not expressly authorized by these Terms.
These Terms solely provide a limited license for accessing and using Bfree Services. Consequently, by using Bfree Services, you agree that Bfree does not transfer Bfree Services or the ownership or intellectual property rights of any Bfree intellectual property to you or any other party. All textual content, graphics, user interfaces, visual interfaces, photographs, sounds, process flow diagrams, computer code (including HTML code), programs, software, products, information, and documents, as well as the design, structure, selection, coordination, expression, appearance, and layout of any content incorporated in the services or provided through Bfree Services, are exclusively owned, controlled, and/or licensed by Bfree Operators, its members, parent companies, licensors, or affiliates.
Bfree retains ownership of any feedback, suggestions, ideas, or other information or materials (hereinafter collectively referred to as "Feedback") about Bfree or Bfree Services that you provide via email, Bfree Services, or other means. You hereby transfer all rights, ownership, and interests of the Feedback and all related intellectual property rights to Bfree. You waive any right and hereby waive any request for acknowledgment or compensation based on any Feedback or any modifications based on any Feedback.
2. Restrictions
When utilizing Bfree Services, you consent to and commit to abiding by the following provisions:
i. Throughout your use of Bfree Services, all activities you engage in must adhere to the requirements of applicable laws and regulations, as well as these Terms and various guidelines provided by Bfree.
ii. Your utilization of Bfree Services should not infringe upon public interests, public morals, or the legitimate interests of others. This includes refraining from actions that may disrupt, interfere with, negatively impact, or prevent other Users from utilizing Bfree Services.
iii. You may not modify, replicate, duplicate, copy, download, store, transmit further, disseminate, transfer, disassemble, broadcast, publish, remove, or alter any copyright statement or label pertaining to Bfree Services without prior written consent from Bfree. Additionally, you are prohibited from licensing, sub-licensing, selling, mirroring, designing, renting, leasing, privately labeling, granting security interests in the properties, or creating derivative works of any part of the properties without prior written consent.
iv. Without prior written consent from Bfree, you are prohibited from engaging in the following actions:
Using deep linking, web crawlers, bots, spiders, or other automated devices, programs, scripts, algorithms, or methods to access, obtain, copy, or monitor any part of the properties.
• Attempting to access any part or function of the properties without authorization, including connecting to Bfree Services or servers, or any other systems or networks of Bfree Services provided through the services by unlawful means.
• Probing, scanning, or testing vulnerabilities of Bfree Services or any connected network, or violating any security or authentication measures.
• Attempting to track information of other Users or visitors of Bfree Services.
• Taking actions that impose an unreasonable or disproportionately large load on the infrastructure of Bfree Services or Bfree.
• Using devices, software, or routine programs to interfere with the normal operation of Bfree Services or transactions.
• Forgery, impersonation, or manipulation of identification to disguise your identity or the origin of any messages sent to Bfree.
• Using Bfree Services for illegal purposes.
By accessing Bfree Services, you acknowledge that Bfree reserves the right to investigate any violations of these Terms, unilaterally determine whether you have violated them, and take actions as per relevant regulations without your consent or prior notice. Such actions may include, but are not limited to:
1. Blocking and closing transaction gateways.
2. Reversing or refusing to complete authorized transactions.
3. Freezing your account.
4. Reporting incidents to the authorities.
5. Publicizing alleged violations and actions taken.
6. Deleting any published information found to be in violation.
3. Digital Currency Services:
Your digital currency wallet allows you to initiate digital currency transactions, including sending digital currency to your virtual card and receiving and storing digital currency from third parties through instructions provided on the Bfree website. Each such transaction is referred to as a "Digital Currency Transaction."
All digital currency transactions are executed based on your instructions, and you agree that you are responsible for verifying all information related to the instructions you submit. We do not verify the identity of any user, recipient, requester, or other party involved in the transaction.
Once a Digital Currency Transaction is broadcasted to the relevant digital currency network, it cannot be reversed. The transaction will remain unconfirmed for a certain period while awaiting confirmation from the digital currency network. During this pending state, the transaction is not considered complete, and any digital currency associated with it will be designated as pending and will not be included in your digital currency wallet balance or available for further transactions.
We may apply network fees (miner fees) to process Digital Currency Transactions on your behalf. The calculation of these fees is at our discretion, but we will always notify you of the fee before authorizing the transaction.
We reserve the right to refuse to process or cancel any pending Digital Currency Transaction as required by law or by order of any court or authority to which Bfree is subject in any jurisdiction.
Supported Digital Currencies:
Our Digital Currency Services are exclusively available for the digital currencies supported by Bfree, and this may change periodically. It's crucial not to attempt to utilize your Digital Currency Wallet for storing, sending, requesting, or receiving digital currencies that are not supported by us. Bfree reserves the right to make reasonable efforts to assist you in moving or selling digital currency that we no longer support, provided it was previously listed on Bfree when stored in your Wallet. Bfree bears no responsibility or liability for any attempt to use your Digital Currency Wallet for digital currencies we do not support.
Third-Party Payments:
We do not guarantee that a third-party buyer or seller you transact with will fulfill the transaction or is authorized to do so. Any issues with goods or services purchased from or sold to a third party using Digital Currency transferred via Bfree Digital Currency Services should be resolved directly with that third party.
Bfree has no control over and is not liable for the delivery, quality, safety, legality, or any other aspect of goods or services bought from or sold to a third party, regardless of whether the third party is a User of Bfree Digital Currency Services, or any other service provided by Bfree.\
Advanced Protocols:
Unless explicitly stated otherwise on the Bfree Site or in an official public statement by Bfree, refrain from using your Bfree Account for any transactions involving an Advanced Protocol not listed on Bfree. We disclaim any responsibility regarding unsupported Advanced Protocols.
Operation of Digital Currency Protocols:
We do not own or control the underlying software protocols governing the operation of Digital Currencies supported on our platform. These protocols are generally open source, and we cannot guarantee their functionality, security, or availability. You acknowledge the risk that underlying software protocols relating to any Digital Currency stored in your Digital Currency Wallet may change.
In particular, these protocols may undergo sudden changes in operating rules ("forks"), which could significantly impact the value, function, and/or name of the Digital Currency in your Wallet. While we may provide notices or alerts regarding forks when possible, it's your responsibility to stay informed and consider how to address upcoming forks. We may need to temporarily suspend operations in relation to a fork without providing advance notice. Additionally, we reserve the right to decline support for either or both branches of a fork. You acknowledge these risks and accept that we are not obligated to assist you in moving or selling an unsupported branch of a forked protocol.
4. Transaction Limits And Enhanced Due Diligence
Transaction Limits
The use of all Bfree Services is subject to a limit on the amount of volume stated in card terms of use. To view limits, check the card terms of use.
6. Fiat Transactions (Deposits And Withdrawals)
i. Bfree operates on a Fiat payment system, facilitating seamless crypto deposit cash-out services for users through their virtual cards by purchasing goods on other platforms. Independent Merchants can conduct deposit transactions among themselves using their Bfree wallets.
ii. By utilizing the Bfree Platform, you acknowledge that you have thoroughly read, comprehended, and agreed to all the terms and conditions outlined in this Agreement, along with our Privacy Policy. You also affirm and accept that you are solely responsible for understanding and adhering to all laws, regulations, rules, and requirements of your residing jurisdiction that may apply to your use of the application.
iii. This provision is legally binding and governs your utilization of the Bfree Platform. If you disagree with any of the terms herein, please refrain from using the Platform; otherwise, you assume full liabilities for your actions.
iv. Bfree retains the right to suspend or terminate transaction services. If deemed necessary, Bfree may suspend or terminate Transaction services at any given time.
v. Due to network delays, computer system failures, and other force majeure circumstances that may result in delays, suspensions, terminations, or deviations in transaction execution, Bfree will exert reasonable efforts to ensure the stability and effectiveness of the transaction execution system. However, Bfree does not assume any responsibility if the final execution fails to meet your expectations due to the aforementioned factors.
vi. Bfree reserves the right to update, revise, modify, or reissue these terms without prior notice. Your continued use of the Platform following any amendments to this Agreement constitutes your acceptance of the modified Agreement.
VIRTUAL CARD
Bfree offers Virtual Cards that is linked with our virtual wallet. Please refer to our card usage
1. Card fees
• Card issuing - $10
• Monthly maintenance/subscription fee - $2
• For every failed card transaction due to insufficient balance while transacting - $0.5
• FX Transactions (Transactions made outside of the US) - exchange fee of 8% and $0.9 per transaction
2. Card funding The minimum amount that can be added to a card is $2 in a single card funding transaction, whilst the maximum amount is $1000, a card can hold up to $10,000
3. Card transaction How the card subscription works: Card subscription/maintenance deduction only happens on your USD wallet. If there’s no money in your USD wallet, we then withdraw $2 from your card and move it to your USD wallet where the deduction would eventually happen. We only withdraw from your card when your card balance is at least $2, this is because we require a minimum card balance of $2 after withdrawal. At every point we try to deduct from your card we send notifications. If after the third retry from our end, there’s no money in your USD wallet or card to pay your monthly subscription, we delete your card.
How the card fx transaction fees work: Foreign exchange fees happen when you make a card payment outside of the US, our cards are US-denominated cards. When you pay for a service or product in the US, there are no foreign exchange fees, but when you pay for a service or product outside of the US, we charge a foreign exchange fee of 8% and $0.9 per transaction. E.g. when you pay for an item in the UK costing $100, we charge $8 plus $0.9, which is $8 for that transaction. FX fee deduction happens in your USD wallet, if there’s no money in your USD wallet, it goes into negative, then we do an exchange from your base wallet to your USD wallet to clear the negative.
How the failed transaction fees work: For every payment initiated with an insufficient balance, we impose a penalty fee of $0.5. E.g. assuming you have a recurrent bill running for Netflix and you are to pay on the 1st of every month, when Netflix comes for their money on the 1st and you have less than the amount in your card, it means the transaction fails, that will attract a fee of $0.5 and we charge the USD wallet directly unless there’s no money in your USD wallet then it goes into negatives, which we can then exchange from your base wallet to USD to clear the negative.
Please note that if you request a new card after the termination or deletion of a previous card, a fee for creating a new card will be applicable.
SUSPENSION, TERMINATION AND CANCELLATION
1. Bfree Account Suspension
You acknowledge that Bfree reserves the right to immediately suspend your Bfree Account (along with any accounts beneficially owned by related entities or affiliates), freeze or lock the Digital Assets or funds in all such accounts, and suspend your access to Bfree for any reason. This includes situations where Bfree suspects any such accounts to be in violation of these Terms, our Privacy Policy, or any applicable laws and regulations, without prior notice and at our discretion.
You understand and agree that Bfree shall not be held liable to you for any permanent or temporary modification of your Bfree Account, or for the suspension or termination of your access to all or any portion of Bfree Services. Bfree also reserves the right to retain and utilize transaction data or other information related to such Bfree Accounts. We may:
(a) Refuse to complete or block, cancel, or reverse a transaction you have authorized.
(b) Suspend, restrict, or terminate your access to any or all of the Bfree Services.
(c) Deactivate or cancel your Bfree Account with immediate effect for any reason.
The above account controls may be applied in various cases, including but not limited to:
i. The Bfree Account being subject to a governmental proceeding, criminal investigation, or other pending litigation.
ii. Detection of unusual activities in the Bfree Account.
iii. Detection of unauthorized access to the Bfree Account.
iv. Concerns regarding the security of your Bfree Account or suspicion of fraudulent or unauthorized use of Bfree Services.
v. Suspicions of money laundering, terrorist financing, fraud, or other financial crimes.
vi. Decline of your debit card linked to your Digital Currency Wallet.
vii. Use of your Bfree Account being subject to pending litigation, investigation, or government proceeding.
viii. Perception of a heightened risk of legal or regulatory non-compliance associated with your Account activity.
ix. Engagement in actions that may circumvent our controls, such as opening multiple Bfree Accounts or abusing promotions.
x. Inability of our service partners to support your use.
xi. Necessity to protect our other Users in the circumstances.
We may also refuse to complete a transaction you have authorized where there is insufficient balance in your Bfree Account and/or insufficient Digital Currency in your Digital Currency Wallet to cover the transaction and (where applicable) associated fees at the time that we receive notification of the transaction.
2. Cancellation of Bfree Account In the event of any of the following occurrences, Bfree reserves the right to terminate these Terms by cancelling your Bfree Account. Additionally, Bfree may, at its discretion, permanently freeze (cancel) the authorizations associated with your Bfree Account on Bfree and withdraw the corresponding Bfree Account:
i. Bfree ceases to provide services to you;
ii. You are suspected of registering, or actually register, as a Bfree User under another person's name, whether directly or indirectly;
iii. The information provided by you is found to be untruthful, inaccurate, outdated, or incomplete;
iv. You express your unwillingness to accept the amended Terms by requesting cancellation of your Bfree Account or through other means, following any amendments to these Terms;
v. You request termination of Bfree Services; and
vi. Any other circumstances wherein Bfree determines it necessary to terminate Bfree Services.
Administrative And Security Procedures And Measures
You acknowledge that our decision to undertake specific actions, such as restricting access to, suspending, or closing your Bfree Account, may be based on confidential criteria that are integral to our risk management and security protocols. You agree that we are not obligated to disclose the details of our risk management and security procedures to you. The Platform may employ such security or administrative procedures when determining actions to be taken against Users who violate or are suspected of violating the Platform's Policy, which may include limiting access to, suspending, or closing a User’s account. We will lift the suspension as promptly as possible once the reasons for the suspension cease to exist; however, we are not obligated to notify you when (if ever) such suspension will be lifted.
Upon termination of this Agreement, unless prohibited by applicable law or by any court or other order to which Bfree is subject in any jurisdiction, and except as outlined below, once a Bfree Account is closed or withdrawn, any remaining account balance (including charges and liabilities owed to Bfree) will become immediately payable to Bfree. After settling all outstanding charges to Bfree (if any), Users will have 10 business days to withdraw any remaining Digital Assets or funds from the account.
In The Case Of Account Termination Due To Fraud, Violation Of Law, Or Violation Of These Terms:
Bfree retains full control over Digital Assets, funds, and User data/information, which may be disclosed to governmental authorities if Bfree Accounts are suspended or closed due to fraud investigations or violations of law or these Terms.
Upon termination of your Bfree Account, account and transactional information meeting data retention standards will be securely stored for 5 years. Additionally, if any transactions are incomplete during the account termination process, Bfree reserves the right to inform you of the situation at that time. You acknowledge that a user-initiated account exit, pursuant to the right to erasure under NDPR or equivalent regulations, will also follow the termination protocol outlined above.
If Bfree receives information that any Digital Assets or funds held in your Bfree Account are stolen or unlawfully possessed by you, Bfree may, at its discretion, place an administrative hold on the affected funds and your Bfree Account. Bfree may maintain such a hold until the dispute is resolved, and acceptable evidence of resolution is provided to Bfree in an acceptable form. Bfree will not participate in the dispute or its resolution. You agree that Bfree will not be liable for any such hold or for your inability to withdraw Digital Assets or funds or execute trades during the period of the hold.
Bfree is not obligated to reinstate a transaction at the same price or on the same terms as the suspended, reversed, or cancelled transaction.
REPRESENTATION, WARRANTIES, LIABILITIES, AND INDEMNITY
1. Release Of Bfree
If you have a dispute with one or more users of the Bfree Services, you agree that neither we nor our affiliates or service providers, nor any of our respective officers, directors, agents, joint venturers, employees, and representatives will be liable for any claims, demands and damages (actual and consequential) of any kind or nature arising out of or in any way connected with such disputes.
2. No Financial Advice
Bfree is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using Bfree Services. No communication or information provided to you by Bfree is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. Unless otherwise specified in these Terms, all trades are executed automatically, based on the parameters of your order instructions and in accordance with posted trade execution procedures, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance, and you shall be solely responsible for any loss or liability therefrom. You should consult legal or tax professionals regarding your specific situation. Bfree does not recommend that any Digital Asset should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any Digital Asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. Bfree will not be held responsible for the decisions you make to buy, sell, or hold Digital Asset based on the information provided by Bfree.
3. Disclaimer Of Warranties
SUBJECT TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, BFREE SERVICES, BFREE MATERIALS, AND ANY PRODUCT, SERVICE, OR OTHER ITEM PROVIDED BY OR ON BEHALF OF BFREE ARE OFFERED ON AN "AS IS" AND "AS AVAILABLE" BASIS. BFREE EXPRESSLY DISCLAIMS, AND YOU WAIVE, ANY AND ALL OTHER WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NON-INFRINGEMENT, OR WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING, OR USAGE IN TRADE. WITHOUT LIMITING THE FOREGOING, BFREE DOES NOT REPRESENT OR WARRANT THAT THE SITE, BFREE SERVICES, OR BFREE MATERIALS ARE ACCURATE, COMPLETE, RELIABLE, CURRENT, ERRORFREE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. BFREE DOES NOT GUARANTEE THAT ANY TRANSACTION WILL BE EXECUTED OR ACCEPTED. EXCEPT FOR THE EXPRESS STATEMENTS, AGREEMENTS, AND RULES SET FORTH IN THESE TERMS, YOU ACKNOWLEDGE AND AGREE THAT YOU HAVE NOT RELIED UPON ANY OTHER STATEMENT OR AGREEMENT, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF BFREE SERVICES. WITHOUT LIMITING THE FOREGOING, YOU UNDERSTAND AND AGREE THAT BFREE WILL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO: (A) ANY INACCURACY, DEFECT, OR OMISSION OF DIGITAL ASSET PRICE DATA, (B) ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA, (C) INTERRUPTION IN ANY SUCH DATA, (D) REGULAR OR UNSCHEDULED MAINTENANCE CARRIED OUT BY BFREE AND SERVICE INTERRUPTION AND CHANGE RESULTING FROM SUCH MAINTENANCE, (E) ANY DAMAGES INCURRED BY OTHER USERS' ACTIONS, OMISSIONS, OR VIOLATION OF THESE TERMS, (F) ANY DAMAGE CAUSED BY ILLEGAL ACTIONS OF OTHER THIRD PARTIES OR ACTIONS WITHOUT AUTHORIZATION BY BFREE; AND (G) OTHER EXEMPTIONS MENTIONED IN DISCLAIMERS AND PLATFORM RULES ISSUED BY BFREE. BFREE WILL MAKE REASONABLE EFFORTS TO ENSURE THAT REQUESTS FOR ELECTRONIC DEBITS CARDS ARE PROCESSED IN A TIMELY MANNER, BUT WE MAKE NO REPRESENTATIONS OR WARRANTIES REGARDING THE AMOUNT OF TIME NEEDED TO COMPLETE PROCESSING, WHICH IS DEPENDENT UPON MANY FACTORS OUTSIDE OF OUR CONTROL. THE DISCLAIMER OF IMPLIED WARRANTIES CONTAINED HEREIN MAY NOT APPLY IF AND TO THE EXTENT IT IS PROHIBITED BY APPLICABLE LAW OF THE JURISDICTION IN WHICH YOU RESIDE.
4. Disclaimer Of Warranties And Limitation Of Liability and Indemnity
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BFREE, ITS AFFILIATES, AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS, OR CONTRACTORS SHALL NOT BE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL, OR SIMILAR DAMAGES OR LIABILITIES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF DATA, INFORMATION, REVENUE, PROFITS, OR OTHER BUSINESSES OR FINANCIAL BENEFITS) ARISING OUT OF BFREE SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF BFREE SERVICES, OR ANY OTHER PRODUCT, SERVICE, OR OTHER ITEM PROVIDED BY OR ON BEHALF OF BFREE AND ITS AFFILIATES, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY, OR OTHER THEORY, EVEN IF BFREE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, EXCEPT TO THE EXTENT OF A FINAL JUDICIAL DETERMINATION THAT SUCH DAMAGES WERE A RESULT OF BFREE'S GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT, OR INTENTIONAL VIOLATION OF LAW. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
NOTWITHSTANDING THE FOREGOING, IN NO EVENT WILL THE LIABILITY OF BFREE, ITS AFFILIATES, AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS, OR CONTRACTORS ARISING OUT OF SERVICES OFFERED BY OR ON BEHALF OF BFREE AND ITS AFFILIATES, ANY PERFORMANCE OR NON-PERFORMANCE OF BFREE SERVICES, OR ANY OTHER PRODUCT, SERVICE, OR OTHER ITEM, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY, OR OTHER THEORY, EXCEED THE AMOUNT OF THE FEES PAID BY YOU TO BFREE UNDER THESE TERMS IN THE TWELVE-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.
INDEMNIFICATION: YOU AGREE TO INDEMNIFY AND HOLD HARMLESS BFREE OPERATORS, THEIR AFFILIATES, CONTRACTORS, LICENSORS, AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS FROM AND AGAINST ANY CLAIMS, ACTIONS, PROCEEDINGS, INVESTIGATIONS, DEMANDS, SUITS, COSTS, EXPENSES, AND DAMAGES (INCLUDING ATTORNEYS' FEES, FINES, OR PENALTIES IMPOSED BY ANY REGULATORY AUTHORITY) ARISING OUT OF OR RELATED TO (I) YOUR USE OF, OR CONDUCT IN CONNECTION WITH, BFREE SERVICES, (II) YOUR BREACH OR OUR ENFORCEMENT OF THESE TERMS, OR (III) YOUR VIOLATION OF ANY APPLICABLE LAW, REGULATION, OR RIGHTS OF ANY THIRD PARTY DURING YOUR USE OF BFREE SERVICES. IF YOU ARE OBLIGATED TO INDEMNIFY BFREE OPERATORS, THEIR AFFILIATES, CONTRACTORS, LICENSORS, AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, OR AGENTS PURSUANT TO THESE TERMS, BFREE WILL HAVE THE RIGHT, IN ITS SOLE DISCRETION, TO CONTROL ANY ACTION OR PROCEEDING AND TO DETERMINE WHETHER BFREE WISHES TO SETTLE, AND IF SO, ON WHAT TERMS.
6. Limitation Of Loss
IN NO EVENT SHALL BFREE, BFREE'S AFFILIATES OR SERVICE PROVIDERS, OR ANY OF BFREE'S OR THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE FOR ANY OF THE FOLLOWING TYPES OF LOSS OR DAMAGE ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT OR OTHERWISE:
(I) ANY LOSS OF PROFITS OR LOSS OF EXPECTED REVENUE OR GAINS, INCLUDING ANY LOSS OF ANTICIPATED PROFITS AND / OR ANY ACTUAL OR HYPOTHETICAL LOSSES, EVEN IF WE ARE ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF THE SAME. THIS MEANS, BY WAY OF EXAMPLE ONLY (AND WITHOUT LIMITING THE SCOPE OF THE PRECEDING SENTENCE), THAT IF YOU CLAIM THAT WE FAILED TO PROCESS A BUY OR SELL TRANSACTION PROPERLY, YOUR DAMAGES ARE LIMITED TO NO MORE THAN THE COMBINED VALUE OF THE SUPPORTED DIGITAL CURRENCY AND E-MONEY AT ISSUE IN THE TRANSACTION, AND THAT YOU MAY NOT RECOVER FOR ANY "LOSS" OF ANTICIPATED TRADING PROFITS OR FOR ANY ACTUAL TRADING LOSSES MADE AS A RESULT OF THE FAILURE TO BUY OR SELL.
(II) ANY LOSS OF OR DAMAGE TO REPUTATION OR GOODWILL; ANY LOSS OF BUSINESS OR OPPORTUNITY, CUSTOMERS OR CONTRACTS; ANY LOSS OR WASTE OF OVERHEADS, MANAGEMENT OR OTHER STAFF TIME; OR ANY OTHER LOSS OF REVENUE OR ACTUAL OR ANTICIPATED SAVINGS, EVEN IF WE ARE ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF THE SAME;
(III) ANY LOSS OF USE OF HARDWARE, SOFTWARE OR DATA AND / OR ANY CORRUPTION OF DATA; INCLUDING BUT NOT LIMITED TO ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO ANY INACCURACY, DEFECT OR OMISSION OF DIGITAL CURRENCY PRICE DATA; ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA; AND / OR ANY INTERRUPTION IN ANY SUCH DATA;(IV) ANY LOSS OR DAMAGE WHATSOEVER WHICH DOES NOT STEM DIRECTLY FROM OUR BREACH OF THIS AGREEMENT;
(V) ANY LOSS OR DAMAGE WHATSOEVER WHICH IS IN EXCESS OF THAT WHICH WAS CAUSED
AS A DIRECT RESULT OF OUR BREACH OF THIS AGREEMENT (WHETHER OR NOT YOU ARE ABLE TO PROVE SUCH LOSS OR DAMAGE).
7. Safety And Security Of Computers And Devices
BFREE IS NOT LIABLE FOR ANY DAMAGE OR INTERRUPTIONS CAUSED BY ANY COMPUTER VIRUSES, SPYWARE, SCAREWARE, TROJAN HORSES, WORMS OR OTHER MALWARE THAT MAY AFFECT YOUR COMPUTER OR OTHER EQUIPMENT, OR ANY PHISHING, SPOOFING OR OTHER ATTACK. WE ADVISE THE REGULAR USE OF A REPUTABLE AND READILY AVAILABLE VIRUS SCREENING AND PREVENTION SOFTWARE. YOU SHOULD ALSO BE AWARE THAT SMS AND EMAIL SERVICES ARE VULNERABLE TO SPOOFING AND PHISHING ATTACKS AND SHOULD USE CARE IN REVIEWING MESSAGES PURPORTING TO ORIGINATE FROM US. BFREE CUSTOMER SUPPORT WILL NEVER ASK TO SCREEN SHARE OR OTHERWISE SEEK TO ACCESS YOUR COMPUTER OR ACCOUNT; SIMILARLY, WE WILL NOT ASK FOR YOUR TWO FACTOR AUTHENTICATION CODES. ALWAYS LOG INTO YOUR BFREE ACCOUNT THROUGH THE BFREE SITE TO REVIEW ANY TRANSACTIONS OR REQUIRED ACTIONS IF YOU HAVE ANY UNCERTAINTY REGARDING THE AUTHENTICITY OF ANY COMMUNICATION OR NOTICE.
APPLICABLE LAWS
It is the Users' responsibility to abide by local laws in relation to the legal usage of Bfree Services in their local jurisdiction as well as other laws and regulations applicable to Users. Users must also factor, to the extent of their local laws all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. ALL USERS OF BFREE SERVICES ACKNOWLEDGE AND DECLARE THAT THEIR FUNDS COME FROM LEGITIMATE SOURCES AND DO NOT ORIGINATE FROM ILLEGAL ACTIVITIES; USERS AGREE THAT BFREE WILL REQUIRE THEM TO PROVIDE OR OTHERWISE COLLECT THE NECESSARY INFORMATION AND MATERIALS AS PER RELEVANT LAWS OR GOVERNMENT ORDERS TO VERIFY THE LEGALITY OF THE SOURCES AND USE OF THEIR FUNDS. Bfree maintains a stance of cooperation with law enforcement authorities and will not hesitate to seize, freeze, terminate Users' accounts and funds which are flagged out or investigated by legal mandate.