MIB Sale Policy
This Sale Policy (hereinafter the “Policy”) shall set forth the general rules and procedures governing the sale of MIB Coin by MOS Soft Ltd. (hereinafter the “Company,” “we,” “our”) and the exchanges among its purchasers (hereinafter the “Purchaser,” “you,” “your”).<br>
1. Status the Policy and Its Acceptance<br>
1.1. The Policy is the general provisions governing the transactions of MIB. We assume that you have read and understood its provisions.<br>
1.2. You have the obligations to read the Policy carefully and to take caution to adhere to the provisions set forth in it.<br>
1.3. If you do not agree to the Policy, in part or in whole, you must put on hold the use of this website and exchange of MIB.<br><br>
2. Generals<br>
2.1. The Policy shall govern the MIB issue during the Presale and ICO periods, your rights as the MIB Purchaser, and the purchase of MIB in the secondary market.<br>
2.2. By agreeing to the Policy, you agree expressly to the following: MIB is not and should not be regarded as being tantamount to securities or other financial products; the offering of MIB is not registered with any government bodies; MIB does not represent any shares, stocks, securities or their equivalents.<br>
2.3. The Policy, the Whitepaper, or related documents are not investment handouts, guidelines, or any other promotional materials.<br>
2.4. We reserve the right to change the contents of the Policy and the Whitepaper without prior notice to you. All amendments (modified or added clauses) to the Policy and the Whitepaper come into effect when the links leading to them are posted on our website.<br>
2.5. The Policy and the Whitepaper are not subject to any regulatory approval, audit, or registration.
2.6. If you have any queries on the Policy and the Whitepaper, please send an email to: [email protected] <br><br>
3. Definitions<br>
3.1. “MIB” refers to the cryptocurrency issued by MOS Soft Ltd. through Presale and ICO.<br>
3.2. The “Company” refers to MOS Soft Ltd.<br>
3.3. The “Development Company” consists of the following divisions:
Core Development: BOLTSOFT Ltd. Seoul, Republic of Korea<br>
3rd party technical team: Wenee Co., ltd. Seoul, Republic of Korea<br>
3.4. “ICO” (initial coin offering) refers to the initial offering of MIB Coins as stipulated in the Policy.<br>
3.5. The term “Presale” refers to pre-ICO issue of MIB as stipulated in this Policy.<br>
3.6. The term “Purchaser” refers to potential purchasers who can acquire MIB directly from the Company or in the secondary market through Presale or ICO.<br>
3.7. The “Policy” can be modified at any time.<br>
3.8. The term “Wallet” refers to the technical solution encompassing the storage of your wallet’s private and public keys and transfer of coins (e.g., cryptocurrencies or tokens).<br>
3.9. The “Website” refers to the Company’s official website (http://www.mibcoin.io/) where the Purchaser can buy MIB Coins.<br>
3.10. The “Whitepaper” refers to the document explaining the technical and business aspects of MIB.<br><br>
4. Offer and Acceptance<br>
4.1. MIB Coin is defined in the Whitepaper and can be bought only by the eligible Purchaser during the periods determined by the Company and announced on the Website.<br>
4.2. The MIB issue offered to the eligible purchasers (potential MIB Coin Purchaser) by posting it on the Company’s Website is a legally binding offering by the Company authorized to issue MIB.<br>
4.3. Any MIB offers posted on websites or Internet sources other than the Company’s official Website shall be considered null and void and have no legal effect whatsoever on the Company.<br>
4.4. The number of the MIB Coins that we may be issued by the Company is limited, as is the number of the MIB Coins that can be exchanged by the Purchaser. The number of tradable MIB Coins shall be defined in the Whitepaper and posted on the Website.<br>
4.5. Legally binding acceptance of the Offer shall be given by the Purchaser by clicking the “Offer Acceptance” button (or something similar with the same function) installed on the Website. From this moment on, the Offer shall be considered to have been formally accepted by the Purchaser, who then must pay the corresponding price for the MIB Coins purchased on the assumption that the Purchaser meets the eligibility requirements set forth by the Company.<br>
4.6. Offer Acceptance by an eligible Purchaser is irrevocable.<br><br>
5. Limitations<br>
5.1. U.S. citizens or residents (in all U.S. federal states) are not eligible for MIB purchase. This MIB purchase prohibition applies to all legal entities and individuals registered in the U.S.<br>
5.2. China prohibits ICO. It is not clearly known how this prohibition affects the ICO conducted in non-Chinese regions like ours. Chinese citizens or residents are encouraged to check the lawfulness of MIB purchase from us by consulting with lawyers within the respective jurisdictions. If ICO is prohibited in your area, pleas seek legal advice and take necessary caution before attempting to purchase MIB.<br><br>
6. Exchange Conditions and Payment Procedure<br>
6.1. We do not accept fiat currencies as a means of payment for MIB. You will have to convert the fiat funds necessary to pay for MIB Coins into cryptocurrency funds.<br>
6.2. To pay for MIB Coins, you must send the cryptocurrency funds corresponding to the MIB price from your personal wallet. All problems arising from instability factors, such as loss and destruction, related to transferring the cryptocurrency funds for the purchase of MIB from a cryptocurrency exchange must be addressed by the Purchaser, and the Company shall not be held responsible. You should take caution not to have a third party manage, borrow, or take over your digital address or cryptocurrency wallet used for the purchase of MIB.<br>
6.3. Exchanges with MIB should be conducted on the Website.<br>
6.4. If you wish to purchase MIB during a Presale and ICO period, you have to secure a sufficient amount of Ether Wallet.<br>
6.5. MIB can be purchased with ETH.<br>
6.6. You can also purchase MIB directly from us during a Presale or ICO period.<br>
6.7. We will issue 200,000,000 MIB Coins out of 1,000,000,000, the total number to be issued and distributed.<br>
6.7.1. Of the 200,000,000 MIB Coins to be issued, 85,000,000 shall be distributed during the Presale and ICO periods, 35,000,000 and 50,000,000, respectively.<br>
6.7.2. 80,000,000 MIB Coins shall be tied up in MOS Soft Ltd. as reserve.<br>
6.7.3. 20,000,000 MIB Coins shall be distributed to the advisors as explained in the Whitepaper.<br>
6.7.4. 15,000,000 MIB Coins shall be distributed to the investors as explained in the Whitepaper.<br>
6.7.5. 800,000,000 MIB Coins shall be detected through mining.<br>
6.8. Conditions for Presale and ICO (an updated schedule may be posted on the Website)<br>
6.8.1. Presale will start at 00:00 (UTC) on March 19, 2018 and end 23:59:59 (UTC) on March 25, 2018.<br>
6.8.2. The timeframe for ICO shall be additionally updated.<br>
6.8.3. After the end of ICO, MIB shall be allocated to the applicants from the MIB Wallet on a first-come-first-serve basis.<br>
6.8.4. The price shall be fixed at 1 MIB for 0.15 USD during the Presale period.<br>
6.8.5. The minimum purchasing amount is 1 ETH during the Presale periods.<br>
6.9. During the Presale period, a bonus shall be applied to MIB purchasers.<br>
6.10. The vesting period for Presale participants is 12 months.<br>
6.10.1 Taking account of the vesting period, Presale participants shall receive a 10% bonus on MIB coins each month.<br>
6.11. For the exchanges with MIB during the ICO period, you must prepare an Ether wallet address according to the registration procedure and other instructions posted on the Website. The payment for the exchange with MIB should be performed in compliance with the procedure indicated therein.<br>
6.12. The MIB Coins not sold during the ICO period shall be retained as the Company reserve.<br>
6.13. The upcoming ICO will be the first and last MIB issue.<br>
6.14. In order to preserve the value of MIB, we reserve the right to dispose of MIB retained as reserve or further distribute a certain amount. We will notify you thereof in due course.<br>
6.15. Your purchase of MIB from the Company is final and hence non-fundable and irrevocable pursuant to the applicable law within the maximum permissible range.<br><br>
7. Transfer of Ownership Rights<br>
7.1. The ownership rights to MIB shall be transferred from the Company to the Purchaser upon completion of payment procedure.<br>
7.2. The ownership rights to the cryptocurrencies provided by the Purchaser shall be transferred to the Company upon completion of the each payment procedure. Such cryptocurrency revenue can be converted into fiat currencies by the Company at any time for MIB project purposes.<br><br>
8. Purchaser’s Statement and Guarantee<br>
8.1. You fully agree to the terms of the Policy by participating in MIB issue. If you do not agree to the Policy, you become automatically ineligible for exchanging MIB.<br>
8.2. You guarantee the points listed below by participating in the MIB issue during the Presale and ICO period.<br>
8.2.1. You have perused the Policy, the Whitepaper, and related documents and agree to comply with the Policy.<br>
8.2.2. You have understood the costs and benefits involved in exchanging MIB.<br>
8.2.3. You agree to assume full responsibility to settle the taxes imposed in connection with the MIB exchanged as per the Policy.<br>
8.2.4. You agree to provide a valid proof for the lawfulness of the revenue generated at the time of exchanging MIB when requested by the Company, a bank, or a government agency.<br>
8.2.5. You understand and agree to the risk specified in the Appendix of the Policy.<br>
8.2.6. You have consulted with legal, fiscal, accounting, or tax experts in Singapore and the jurisdiction of the area of residence in order to make an informed decision about the acquisition of MIB.<br>
8.2.7. You understand that the Company does not provide any advice and does not assume any responsibility whatsoever for tax-related issues within the corresponding jurisdiction.<br>
8.2.8. You cannot exchange MIB if the content described in Article 5 of the Policy applies to you.<br>
8.2.9. You guarantee that you assume all legal responsibility in connection with exchanging MIB as per the Policy including that you are older than 18 years and meet all legal requirements.<br>
8.2.10. If you purchase on behalf of a legal person, you represent that entity when accepting the Agreement for exchanging MIB and own all rights on its behalf.<br>
8.2.11. You have a sufficient understanding of the risks involved in MIB in its technical and economic aspects. This includes the understanding about the cryptocurrency type coins, smart contract, cryptocurrency wallet, block chain, and other aspects.<br>
8.2.12. You understand and accept that MIB does not entail corporate ownership rights (shares or similar transactional rights), dividends, profit sharing, or voting rights.<br>
8.2.13. You acknowledge that the Company is not obliged to refund for any reasons whatsoever after exchanging MIB and that the purchase was final.<br>
8.2.14. You have been given sufficient information from the Company about all details of MIB and its ICO and the related risks through the Policy, the Whitepaper, and other related documents.<br>
8.2.15. You recognize the possibility that the MIB-related information provided through the Website, the Whitepaper, and the Company or all other ICO-related information is insufficient or incomplete. You have to seek to acquire additional information on the Company and MIB-related aspects whenever you judge it necessary.<br>
8.2.16. MIB is provided “as is” and does not offer any kinds of explicit or implicit guarantee.
8.2.17. You have not been involved in any illegal acts and have not used the Website or exchanged MIB for illegal or unethical purposes.<br><br>
9. Personal Information Protection<br>
9.1. In order to be able to exchange MIB, you should submit your personal data (email address, wallet address, etc.) on the Website.<br>
9.2. The collected personal data are used only for the purposes of preparing the coin exchange agreement and performing the audit necessary for carrying out the duties for customer management and anti-money laundering (AML) regulations.<br>
9.3. The Company cannot disclose or transmit personal information provided by our on the Website to a third party without your prior written consent. Use of personal data is required by the related law of the respective jurisdiction.<br>
9.4. The Company’s key database is its member data. The Company can assign the rights to a third party under consignment contract for data protection purposes, if need be.<br><br>
10. Security<br>
You as the Purchaser assume the responsibility of taking appropriate security measures to ensure safe storage of the personal key and to safely exchange, store, and use MIB including login details.<br><br>
11. Responsibility<br>
11.1. If you have violated the guarantee or other obligations stipulated in the Policy, causing damages, losses, costs, and fines to the Company and its affiliates or employees, you should compensate them within the maximum range permitted by the law.<br>
11.2. You should also compensate the Company and its affiliates or employees for all damages, losses, costs, and fines incurring due to claim by a third party arising from the violation under paragraph <br>
11.3. We shall not be held liable for the losses incurred to the Purchaser by force majeure or situations that lie beyond the Company’s control.<br>
11.4. If you cause the Company and its affiliates or staff/employees to be burdened with costs or other legal measures by the audit or regulatory measures enforced by the supervisory agency, you have to compensate for all expenses involved.<br>
11.5. We shall not be held liable for the damages incurred by unauthorized or illegal participation in the MIB issue or exchanging MIB during the period indicated in Article 6 of the Policy.<br>
11.6. We shall not be held liable for the damages arising from not taking adequate measures to protect your Wallet or MIB.<br>
1.7. We shall not be held liable for the damages or losses caused by you in any of the cases of risk stipulated in the Appendix of this Policy.<br><br>
12. KYC & AML Regulations<br>
12.1. We uphold that all laws, regulations, and guidelines applicable to money services businesses (MSB) operating in Singapore or other jurisdictions should be adhered to at all times.<br>
12.2. We maintain and manage the KYC (Know Your Customer) policy to comply with the record-keeping requirements. We pay due attention to verify the identification of the potential MIB purchasers by comparing the user data with the government’s watch list including the OFAC Sanction List and cyber blacklist, and resorting to third-person ID verification and authentication services. If the exchange with MIB offered by you has been reported by the internal surveillance system, we may request you to submit additional proofs of your identification and limit the purchase until you provide satisfactory proof of identification.<br>
12.3. By agreeing to the Policy, you recognize and agree to our rights to verify the information provided by you and to request you to help us assign you to a right purchaser verification level based on our internal policy. You acknowledge that you cannot reach the desired level of verification, and we reserve the right to determine the appropriate verification level at our own discretion and to downgrade your verification level without prior notice. We can implement a policy restricting the verification level at any time according to the nationality, country of residence, or other parameters. This can affect your rights to exchange or send MIB from your account and waive the loss of not exchanging, withdrawing, or using MIB.<br>
12.4 As per our KYC policy, we will request ID authentication when you send coins to the MIB Wallet and transfer MIB to another Wallet.<br><br>
13. Jurisdiction, Dispute Resolution, etc.<br>
13.1. The Company and the Purchaser agree to put every possible goodwill effort to negotiate and resolve disputes or claims arising between the Company and the Purchaser in connection with the Policy.
13.2. The Policy is governed by the laws of Singapore.<br>
13.3. If the Company and the Purchaser (or representative) fail to resolve the dispute through negotiation within 30 days, the dispute or compensation issue arising from unresolved breach of agreement or terms of use, termination, or invalidation shall be referred to the Singapore International Commercial Court for solution.<br>
13.4. If any part of the provisions of the Policy is found to be illegal, invalid, or unenforceable, the provision(s) concerned shall not affect the validity or enforceability of the remaining part of this Policy.<br><br>
APPENDIX<br>
RISKS<br>
Disclaimer<br>
1. Participation in and exchange of MIB can entail risks.<br>
2. Before exchanging MIB, the Purchaser should consider earnestly all possible risk factors involved in it. Due attention should be paid to the information specified in this Policy, the Whitepaper, and other related documents, and we encourage you to consult with experts such as lawyers and accountants.
3. Risks may arise in relation to the interpretation of the law by each regulatory body and authorities and that of the laws governing cryptocurrencies and taxation status as well as the changes to laws and taxes.<br>
4. Cryptocurrency can be restricted or controlled by various regulatory bodies within the respective jurisdictions. Your participation can be affected by the regulations or measures applicable in various jurisdictions that can hamper or restrict our ICO implementation, and these factors can increase the potential risks associated with your participation in ICO and exchange/use of MIB.<br>
5. We cannot guarantee post-ICO cryptocurrency transactions. The post-ICO trading in the secondary market can vary according to the approval or disapproval of MIB by each cryptocurrency exchange.
6. Trade stability and functionality of cryptocurrencies may not be sufficiently provided by some exchanges. This trend can be aggravated through the exchange’s morale, business, or technical failure or through a new regulation restricting its functionality. Moreover, transactions in MIB may experience stagnation.<br>
7. MIB price can undergo extreme variations specific to cryptocurrencies, of which the extent can vary from jurisdiction to jurisdiction.<br>
8. The Website, the Whitepaper, this Policy, and other ICO-related documents may include outlook reports presenting expected technical or economic results. Such projected outcomes may differ from reality.
9. MIB, Wallet or other related websites can be exposed to hacker attacks, which can seriously affect the Company’s and Purchaser’s cryptocurrencies, MIB Platform, or ICO.<br>
10. MIB of one Purchaser or the entire Purchaser group may be put at risk by an attacker’s malignant use of a specific weak point or bug that may exist in the MIB core infrastructural element.<br>
11. The MIB being transferred between the Company and the Purchaser may be exposed to an external threat of theft.<br>
12. There may be additional uncertainties besides the technical risks and ICO-related uncertainties described above.<br>
13. We have disclosed all information about the risks associated with the exchange of MIB and participation in ICO within the reasonably estimable scope at the moment of the conclusion of the Agreement.
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