The subject of this Agreement is the exchange of electronic currencies between physical persons via p2p-payments. 3.2 The Service offers its services to all Users.
3.2 The Service offers its services to all Users, and does not supervise any User's transactions in any Payment System.
3.3 Any completed electronic currency exchange transaction cannot be cancelled by the User after it is finished, i.e. after the User has received the funds in electronic or fiat currency he is owed according to the previously accepted terms of the transaction.
4.1 The Service provides the services on the "as is" basis, as they are described on the Service's website, without any additional warranties.
4.2 To care about the quality of services provided to the Users, TOP-EXCHANGE Service commits itself to perform all the activities under the terms of this Agreement
4.3 The Service guarantees the fulfillment of obligations to the User only within the amount of money entrusted to the Service by the User for the exchange operation.
4.5 The Magnetic Exchange assumes no responsibility for any loss or damage as well as any expenses caused by delays, errors, or failures in processing any bank transfers or electronic currency transfers. It will also be liable for any loss or damage resulting from the User's false expectations in respect of the fees charged by the Service, transaction profitability and other subjective factors.
4.6 In case the order is executed, the Service is not responsible for and will not pay out damages if the User has stated the correct details when filling out the order. In this case, the Service is not obliged to refund such funds.
4.7 In case of violation of this Agreement by the User, the Service has the right to terminate the agreement by refusing to fulfill the order and return the funds received to the details of the sender, or other details provided by the User by sending a letter directly from the email address specified in the application. If it is impossible or refusal (as well as ignoring) to refine the details of the Service by the above method, the Service reserves the right to return the funds received to the source of receipt.
4.8. The Service has the right to suspend or cancel the transaction, if the User breaks the terms of this agreement, and return the funds deposited by the User to the user's account.
4.9 TOP-EXCHANGE Service does not check the legality of the User's ownership of electronic currencies and / or cash assets involved in a particular transaction.
4.10 The Magnetic Exchange reserves the right to deny the User access to certain services if they are in breach of this Agreement or suspect that the User has attempted to disrupt the Service (see the paragraph "Terms").
4.11. The Service has the right to charge the User with the expenses related to the return of the funds received from the User in cases specified in the Agreement. (4.8; 4.12; 4.13).
4.12. The Service reserves the right, in case the funds received from the User have been transferred to the Service in the amount, which is different from the amount stated in their application, to consider it as a User's instruction to recalculate and to automatically submit their requests in accordance with the actual amounts received, without any additional correspondence from the User.
4.13. The Service reserves the right to terminate the agreement with the User unilaterally, and return the funds if the payment has been received from the User in excess of the time given for payment.
4.14. In case of technical failure, the Service reserves the right to deny the execution of the agreement with the User, with the following return of the funds to the User's account in full.
4.15. The Service reserves the right not to apply the conditions of the Partner program to exchange transactions involving cash funds.
4.16. The Service reserves the right to deduct 10% as a compensation of labor costs and expenses of the Service on the Partner's commission for the refund of the amount received in case: the payment is made in a currency other than the currency in which the application was made.
4.17. TOP-EXCHANGE Service is not a party to the agreement between the Payment system/Exchange and the Client of the Payment system/Exchange and in no case bears responsibility for the actions of the Payment system/Exchange or its Client.
4.18. By using the service TOP-EXCHANGE, the User confirms that he legally owns and manages the funds and electronic currency involved in the relevant payment.
4.19. The User must take into account that the only acceptable by the service to change the details of the created application - an e-mail sent from the mail specified by the User in the application.
4.20. The User undertakes to independently calculate and pay all taxes required under the tax laws of the location of the User.
4.21. By transferring the funds for exchange to the details provided by the Service in the application, the User confirms their consent to this Agreement.
4.22. The User can express their gratitude for the Service in any form convenient for the User.
4.23 The User undertakes not to use the Service for fraudulent or illegal operations.
4.24 The User undertakes not to disturb the Service.
4.25 The User undertakes to indicate the number of the card which will be used to pay for the transaction. If the User has sent money from another card (account) or used the services of third parties/services to avoid a direct transfer, the Service reserves the indisputable right to
1. termination of the contract with the user unilaterally,
2. a refund to the source of funds received
4.26. The User undertakes to study and understand the terms and conditions of the Payment System/Exchange/Bank used by the User, which are regulated by respective agreements, rules and terms between the Payment System/Exchange/Bank and the User.
4.27. The Service may, at its sole discretion, terminate the agreement by refusing to fulfill the request and returning the received funds to the details of the sender, or other details, provided by the User by sending a letter directly from the email address specified in the request. The user should bear in mind that this is the only acceptable way for the service to change the details in the created application. If the request to clarify the details by the above method is denied or ignored, the Service reserves the right to refund the funds received to the receipt source.
4.28. The Service reserves the right not to provide the User with information about a request that is more than 30 calendar days old.
4.29. The Service has the right not to review any claims for applications with the time limitation period exceeding 30 calendar days from the moment of their creation by the User. The Service is not liable for any losses of the User in relation to such requests
4.30. 4.30. When the User creates a request involving a bank card, the Service has the right to stop the transaction for additional verification and to make a phone call to the cardholder.If the call is ignored or the User's phone is unavailable, the Service reserves the right to cancel the request and return the funds to the details of the sender.
4.31.The Service provides support to the User by means of online chat on the website of the Service Top-exchange.com or by sending an email to [email protected]
4.32. The application, created by the User, must be paid within the time limit (20 minutes).
4.33. Terms of exchange rate fixing. Service informs the User about the rate fixing, all information is available to the User when creating an order.
4.34. Requirements for creating an order:
The User has a sufficient amount of funds to pay for the request. User disposes of his own funds and does not use the details/deposits of third parties.
4.35. The Service makes every effort, but does not guarantee that its services will be available 24 hours a day, 7 days a week. The Service assumes no responsibility for any losses, lost profits or other expenses incurred by the User as a result of their inability to access the website and services of the Service.
4.36. The Service performs automatic registration of the User after creating an application.
5. AML Policy
5.1. Anti-money laundering policy is designed to prevent and reduce the possible risks of top-exchange.com to be involved in any illegal activity. The Service warns users against attempts to use the service top-exchange.com for money laundering, terrorism financing, fraud of any kind, and also from using the service for purchasing prohibited goods and services.
5.2. The Service carries out an AML-check of all cryptocurrency transactions coming from the Users via a specialized service providing this service https://amlbot.com.
When checking transactions for anti-money laundering, the Exchange is guided by high risk parameters. The high-risk parameters are: Dark Service, Dark Market, Scam, Exchange Fraudulent, Illegal Service, Stolen, Ransom, Mixer, Gambling, Sanctions and others. You can read more about the description of high-risk parameters on the link: https://amlbot.com.
5.2.1. If a High Risk transaction is detected, the Service suspends the request and sends the User a request for additional information about the transaction.
5.2.2. The Service has the right to request a detailed verification from the User, which may include identification documents and selfies.
5.2.3. Suspend the transaction for up to 7 days, if there is no request from the relevant authorities concerning the transaction, or retain the User's funds until the incident is fully investigated.
5.3 After the User identification, the refund is made to the address from which the payment came, minus the commission for the transfer within two calendar days.
To make the refund the User is obliged to confirm the details to receive the refund to the e-mail address [email protected]
5.4. The Service carries out AML-check of all cryptocurrency wallets indicated by Users to receive funds on the application, through a specialized service https://amlbot.com. If a wallet has High Risk tags (more than 30%), the Service suspends the payment on the application and asks the User for other details for the possibility of payment on the application. If the User cannot provide other details of the wallet, the Service returns the funds to the address from which the payment came or other details provided by the User to the email [email protected]. Refunds are made minus the transfer fee.
5.5. By creating an application, the User agrees with all the terms of these policies and undertakes to comply with them according to the paragraphs of the current rules on the service top-exchange.com.
5.6. Service may also ask the User any additional information if they carry out suspicious transactions, only at the request of the regulator (the role of the regulator may be an exchange, a government agency or other organization with the appropriate legal basis).
6. Warranties and liabilities of the parties
6.1. TOP-EXCHANGE service is not responsible for damages of the User, resulting from unauthorized actions of third parties.
6.2 The Service guarantees the fulfillment of terms of this agreement.
6.3 In exchange requests in which the Initial currency is a cryptocurrency, the Service guarantees rate fixing after the first confirmation of the transaction in the network. Until the confirmation is received, the request may be recalculated according to the exchange rate if it changes by more than 0.5%
If the order is paid in an amount different from the declared one, the rate for such an order will be recalculated at the stock exchange rate at the time of receipt of payment.
If the payment for the application was received after the expiration of the timer set aside for payment, the rate for such an order will be recalculated at the stock exchange rate at the time of receipt of payment.
For exchange requests where the initial currency is cash, the exchange rate will be recalculated by the system every 5 minutes until the Service partner actually accepts the funds.
6.4 The User must provide true information when filling out the application. In case the User didn't state or gave incorrect information, TOP-EXCHANGE Service is not responsible for any losses of the User which resulted from such mistakes.
6.5 Service has the right to make changes or additions to this Agreement at any time, they become effective after their publication.
6.6. Service is not responsible for address spoofing on the User's device. The user must independently use a reliable antivirus protection, check all addresses.
7. Personal Data Processing and Storage Policy
All the information obtained from the User in the course of the exchange transaction or at the request of the Service is confidential, securely encrypted using SSL-certificate and is not disclosed to third parties, except in the following situations
- at the request of law enforcement authorities;
- at the request of law enforcement authorities; or by court order;
- at the request of the administration of one of the payment systems.
8. Force Majeure
8.1 Neither the User nor the Service assumes any responsibility for delays or inability to fulfill their obligations resulting from force majeure events, including natural disasters, fire, floods, terrorist attacks, power failures, civil unrest, as well as malfunctions of Payment systems, power supply systems, communication networks and Internet providers.
8.2 Blocking of the bank account.
- In case the User's account is blocked as a result of an attempt to transfer funds from the User to the Service, the Service will try to help the User. It will also provide other details to pay for the User's account (if technically possible). The decisions and actions of the bank employees are not within the competence of the Service, therefore the help provided by the Service can have only an advisory nature
- In case the account of the Service is blocked due to the transaction of the User, the order can be suspended. The decision to resume or cancel the application is made by the Service unilaterally, individually in each case. This decision is possible only after the Service has received the documentary proof from the Bank about the User's money transfers.
8.3. In the case of blocking the User's account as a result of an attempt to transfer funds from the Service to the User, the Service will make efforts to help unblock the User's account. Please note that these decisions and actions are not within the competence of the Service, so the assistance provided by the Service can only be advisory/recommending in nature.
8.4. In case the User has mistakenly transferred funds to the details other than those provided by the Service for the payment, the Service is not responsible and does not indemnify and is not obliged to take any actions to return such funds.
Terms of Certain Payment Systems:
- Payment Systems and/or financial institutions are solely responsible for the funds entrusted to them by the User. The Service cannot be a party to the agreement between the Payment system and/or financial institution and the User and is not responsible in any way for improper or unauthorized use of the Payment system features by the User, as well as for misuse of the Payment system functionality by the User. Mutual rights and obligations of the User and Payment system and/or financial institution are regulated by respective agreements.
- Bank payments are processed by the Service within 24 hours, if necessary, the Service may require Verification of the Client's card (account);
- Perfect Money may delay transfers for more than 24 hours;
- In accordance with the Qiwi Offer any payment made through this payment system can be stopped for additional verification by the Qiwi Banking Security Service. The algorithm by which payments are selected for verification is not disclosed. Thus any of our transfers to and from the client may be delayed for up to 48 hours. Following a decision of the Qiwi Banking Security Service, the funds will either be transferred to the beneficiary or returned to the sender. The process is independent of us and each situation will be resolved one way or another. If the client's transfer is checked by SB Qiwi, then after the transfer has passed the check and reached us, the request is restored at the current rate;
- If the amount of cryptocurrency (Bitcoin, Ethereum and others) sent by the User is less than 0.001 in equivalent, the money is not refunded;
- Citizens of Ukraine agree that they cannot make exchanges involving the Qiwi Payment System due to the prohibition of the State Authorities of Ukraine to work with this payment system.