XAPO updates the Terms of Use to include new features to the platform (Chapter II)

As of October 12, Xapo changes the rules regarding the processing of electronic currency.

The changes are related to new conditions for account openings, new products and exclusion of some countries and nationalities in the platform.

This is the official detail of XAPO:

E-money Terms of Use. Chapter II

Read also: XAPO updates the Terms of Use to include new features to the platform (Chapter I)

https://steemit.com/xapo/@hugo1954/xapo-updates-the-terms-of-use-to-include-new-features-to-the-platform-chapter-i

10. INTELLECTUAL PROPERTY.

10.1. Ownership of Intellectual Property Rights.

We and our licensors retain all right, title, and interest (including all copyright, trademark, patent, trade secrets, and all other intellectual property rights) in our Services and all content on our Services, including our trademarks, service marks, designs, logos, URLs, and trade names that are displayed on our Service, which we refer to in these Terms, collectively, as the “Xapo Materials”. We hereby grant you a limited, nonexclusive, and non-sublicensable license to access and use the Xapo Materials for your personal or internal business use. Such license is subject to these Terms and does not permit any resale of the Xapo Materials; the distribution, public performance or public display of any Xapo Materials; modifying or otherwise making any derivative uses of the Xapo Materials, or any portion thereof; or any use of the Xapo Materials other than for their intended purposes. The license granted under this Section 10 will automatically terminate if we suspend or terminate your access to the Services. We will own exclusive rights, including all intellectual property rights, to any feedback, suggestions, ideas or other information or materials regarding Xapo or our Services that you provide, whether by email, posting through our Services or otherwise, which we refer to in these Terms as Feedback. Any Feedback you submit is non-confidential and will become the sole property of Xapo. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You may not use, copy or retransmit anything on our website without our permission. We reserve all rights not expressly granted herein.

10.2. Trademarks.

Xapo and the Xapo logo are Xapo’s or our licensor’s trademarks, registered trademarks or service marks. Any other trademarks mentioned in our website or mobile apps are the property of their respective owners.

10.3. Feedback.

You may voluntarily post, submit or otherwise communicate to us any questions, comments, suggestions, ideas, original or creative materials or other information about Xapo or our Services (collectively, “Feedback”). You understand that we may use such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you, including, without limitation, to develop, copy, publish, or improve the Feedback in Xapo’s sole discretion. You understand that Xapo may treat Feedback as non-confidential.

11. THIRD-PARTY CONTENT.

We may provide information about third-party products, services, activities or events, or we may allow third parties to make their content and information available on or through the Services (collectively, “Third-Party Content”). We provide Third-Party Content as a service to those interested in such content. Your dealings or correspondence with third parties and your use of or interaction with any Third-Party Content are solely between you and the third party. Xapo does not control or endorse, and makes no representations or warranties regarding, any Third-Party Content, and your access to and use of such Third-Party Content is at your own risk.

12. DISCLAIMER OF WARRANTIES.

OUR E-MONEY SERVICES ARE PROVIDED “AS IS” WITH NO WARRANTY OF ANY KIND.

Your use of our E-money Services is at your sole risk. We and our licensors, service providers or subcontractors (if any) make no representations or warranties about the suitability of the information, software, products and services contained in our E-money Services for any purpose or their compliance with any accounting rules, principles or laws, and we expressly disclaim any representation or warranty that the E-money Services will be free from errors, viruses or other harmful components, that communications to or from the E-money Services will be secure and will not intercepted, that the services, functions and other capabilities offered by the E-money Services will be uninterrupted, or that their content will be accurate, complete or timely.

EXCEPT AS EXPRESSLY STATED IN THESE TERMS, WE DISCLAIM (TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW) ALL WARRANTIES, REPRESENTATIONS AND CONDITIONS, WHETHER EXPRESS OR IMPLIED AND WHETHER IMPOSED BY STATUTE OR OTHERWISE, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES RELATING TO TITLE, NON-INFRINGEMENT, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE. YOU ACKNOWLEDGE THAT YOU HAVE NOT ENTERED INTO THIS AGREEMENT IN RELIANCE UPON ANY STATEMENT, WARRANTY OR REPRESENTATION EXCEPT THOSE EXPRESSLY AND SPECIFICALLY SET FORTH IN THESE TERMS AND THAT YOU SHALL HAVE NO REMEDIES IN RESPECT OF ANY STATEMENT, WARRANTY, REPRESENTATION OR CONDITION THAT IS NOT EXPRESSLY AND SPECIFICALLY SET FORTH IN THESE TERMS.

Some jurisdictions do not allow the disclaimer of implied terms in contracts with consumers, so some or all of the disclaimers in this section may not apply to you.

13. NO ADVICE.

Xapo is not acting and cannot act as an advisor, including as to any financial, legal, investment, insurance and/or tax matters. Any information provided by Xapo is for general information only. You are solely responsible for determining whether any contemplated transaction is appropriate for you.

14. COMPLIANCE WITH LAW; TAXES.

You are responsible for complying with all applicable laws related to your activities and other use of the Services, including without limitation any reporting obligations and payment of all applicable taxes.

15. INDEMNIFICATION.

You agree to indemnify, defend and hold us, our employees, agents, consultants, subsidiaries, partners, affiliates, and licensors, harmless against any and all claims, costs, losses, damages, liabilities, judgments and expenses (including reasonable fees of attorneys and other professionals) arising from or in any way related to your use of our Services, your violation of these Terms, or your violation of any rights of any other person or Entity.

16. LIMITATION OF LIABILITY.

IN NO EVENT WILL WE, OUR SUBSIDIARIES, PARTNERS, AFFILIATES, AGENTS, EMPLOYEES, LICENSORS, SERVICE PROVIDERS OR SUBCONTRACTORS (IF ANY) BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOSS OF PROFITS, LOSS OF REVENUE, LOSS OF BUSINESS, LOSS OF USE, LOSS OF DATA, LOSS OF GOODWILL OR ANY SIMILAR OR LIKE LOSS), ARISING AS A RESULT OF OR IN CONNECTION WITH THESE TERMS, THE PERFORMANCE OR OPERATION OF OUR E-MONEY SERVICES, YOUR ACCESS TO, DISPLAY OF OR USE OF OUR E-MONEY SERVICES, ANY DELAY OR INABILITY TO ACCESS, DISPLAY OR USE THE E-MONEY SERVICES, ANY COMPUTER VIRUSES, INFORMATION, SOFTWARE, LINKED SITES, PRODUCTS OR SERVICES OBTAINED THROUGH THE E-MONEY SERVICES, OR THE ACT OR OMISSION OF ANY PERSON, BUSINESS OR OTHER THIRD PARTY USING OUR E-MONEY SERVICES, WHETHER SUCH LIABILITY ARISES FROM ANY CLAIM BASED UPON BREACH OF CONTRACT, BREACH OF WARRANTY, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR OTHERWISE, AND WHETHER OR NOT WE, OUR LICENSORS, SERVICE PROVIDERS OR SUBCONTRACTORS SUBSIDIARIES, PARTNERS, AFFILIATES, AGENTS OR EMPLOYEES, HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Notwithstanding the foregoing provision, in no event will the aggregate liability of Xapo, our subsidiaries, partners, affiliates, agents, employees, licensors, service providers, or subcontractors (if any) for any loss or damage that arises as a result of, or in connection with, any of the occurrences described above exceed the greater of $1000 or the service fees that you paid to us for the service we provide through the E-money Services during the month in which the incident occurred. The limitation of liability reflects the allocation of risk between the parties. The limitations of liability provided in these Terms inure to the benefit of us, our licensors, service providers and subcontractors subsidiaries, partners, affiliates, agents and employees.

SOME JURISDICTIONS DO NOT ALLOW CERTAIN WARRANTY DISCLAIMERS OR LIMITATIONS ON LIABILITY. ONLY DISCLAIMERS OR LIMITATIONS THAT ARE LAWFUL IN THE APPLICABLE JURISDICTION WILL APPLY TO YOU AND OUR LIABILITY WILL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.

17. RELEASE.

To the fullest extent permitted by applicable law, you release Xapo from responsibility, liability, claims, demands and/or damages (actual and consequential) of every kind and nature, known and unknown (including, but not limited to, claims of negligence), arising out of or related to disputes between users and the acts or omissions of third parties.

18. TRANSFER AND PROCESSING DATA.

In order for us to provide our Services, you agree that we may process, transfer and store information about you in other countries, where you may not have the same rights and protections as you do under local law. Xapo will, however, ensure that all transfers of Personal Data (as the same is defined in Regulation (EU) 2016/679 the “Regulation”) outside of the EU shall be carried out in compliance with the Regulation for as long as the same applies to Xapo.

19. SEVERABILITY.

If, for any reason, a court of competent jurisdiction finds any provision of these Terms invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect.

20. ARBITRATION OF DISPUTES.

PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH US AND IT LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF.

You and Xapo agree to arbitrate any dispute arising under or in connection with these Terms or your use of our E-money Services, except for disputes in which either party seeks equitable and other relief for any alleged infringement or unlawful use of copyrights, trademarks, trade names, logos, trade secrets, patents or other intellectual property rights. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL. You and Xapo agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Xapo shall be sent to [email protected]. You and Xapo further agree: (a) to attempt informal resolution prior to any demand for arbitration; (b) that the seat or legal place of any arbitration will be Gibraltar; (c) that arbitration will be conducted confidentially by a single arbitrator appointed by the Gibraltar Chamber of Commerce; (d) the arbitration shall be conducted in accordance with the rules of International Chamber of Commerce; and (e) that the courts in Gibraltar will have exclusive jurisdiction over any appeals of an arbitration award. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court.

WHETHER THE DISPUTE IS HEARD IN ARBITRATION OR IN COURT, YOU AND XAPO WILL NOT COMMENCE AGAINST THE OTHER A CLASS ACTION, CLASS ARBITRATION OR REPRESENTATIVE ACTION OR PROCEEDING.

The arbitrator, Xapo, and you will maintain the confidentiality of any arbitration proceedings, judgments and awards, including, but not limited to, all information gathered, prepared and presented for purposes of the arbitration or related to the dispute(s) therein. The arbitrator will have the authority to make appropriate rulings to safeguard confidentiality, unless the law provides to the contrary. The duty of confidentiality does not apply to the extent that disclosure is necessary to prepare for or conduct the arbitration hearing on the merits, in connection with a court application for a preliminary remedy or in connection with a judicial challenge to an arbitration award or its enforcement, or to the extent that disclosure is otherwise required by law or judicial decision.

Any claim arising out of or related to these Terms or our Services must be filed within one (1) year after such claim arose; otherwise, the claim is permanently barred, which means that you and Xapo will not have the right to assert the claim.

If any portion of this Section 20 is found to be unenforceable or unlawful for any reason, (a) the unenforceable or unlawful provision shall be severed from these Terms; (b) severance of the unenforceable or unlawful provision shall have no impact whatsoever on the remainder of this Section 20 or the parties’ ability to compel arbitration of any remaining claims on an individual basis pursuant to this Section 20; and (c) to the extent that any claims must therefore proceed on a class, collective, consolidated, or representative basis, such claims must be litigated in a civil court of competent jurisdiction and not in arbitration, and the parties agree that litigation of those claims shall be stayed pending the outcome of any individual claims in arbitration. Further, if any part of this Section 20 is found to prohibit an individual claim seeking public injunctive relief, that provision will have no effect to the extent such relief is allowed to be sought out of arbitration, and the remainder of this Section 20 will be enforceable.

21. GOVERNING LAW AND JURISDICTION.

These Terms and any dispute or claim between you and Xapo arising out of or in connection these Terms or any terms incorporated into these Terms by reference or their subject matter or formation (including non-contractual disputes or claims) will be governed by and construed in accordance with the laws of Gibraltar, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction. Subject to the “Arbitration” section above, the courts of Gibraltar shall have exclusive jurisdiction to settle any dispute or claim between you and Xapo arising out of or in connection with these Terms or any terms incorporated into these Terms by reference or their subject matter or formation (including non-contractual disputes or claims).

22. UNCLAIMED PROPERTY; DEATH OF ACCOUNT OWNERS.

22.1. Under applicable law, after a specified period of inactivity by you with respect to your Xapo account, Xapo may be required to report and/or remit any funds it is holding in custody for you in accordance with applicable laws.

22.2. Xapo reserves the right to deduct a dormacy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.

22.3. In the event that a Xapo Account owner dies or is otherwise incapacitated, Xapo will cooperate with duly authorized representatives in accordance with applicable laws and regulations. Upon notice of the death of a Xapo Account owner, Xapo will suspend activity in such Xapo Account, pending verification or resolution of such notice. Notwithstanding the foregoing, Xapo reserves the right to require that the recipient or ultimate beneficiary of any transfer from a Xapo Account (a) provide evidence reasonably satisfactory to Xapo that demonstrates entitlement to a transfer and (b) comply with the Identity Requirement provisions set forth in Section 6 hereof.

23. NO WAIVER.

Our failure to exercise or enforce any right or provision of these Terms will not constitute a waiver of that right or provision.

24. ASSIGNMENT; ENTIRE AGREEMENT.

Xapo may assign these Terms to its parent company, affiliate or subsidiary, or in connection with a merger, consolidation, or sale or other disposition of all or substantially all of its assets. These Terms, together with any other agreements that apply to you, such as our Developer Terms, constitute the entire and exclusive agreement between us and you regarding its subject matter, and supersede and replace any previous or contemporaneous written or oral contract, warranty, representation or understanding regarding its subject matter.

You agree to first contact Xapo and attempt to resolve any complaint or claim at the following:

E-mail: [email protected]
Phone number: +350 200 08125‬
Xapo (Gibraltar) Limited
Suite 23
Portland House
Glacis Road
Gibraltar
Gibraltar
GX11 1AA

SCHEDULE 1.

In compliance with UN/OFAC and statutory regulations as well as Xapo’s own internal assessment of risk associated with serving customers of specific countries, Xapo has determined that it will not provide its Services to several countries. Further, for some countries Xapo has taken additional steps to prevent access to Xapo’s platform from users located in those countries. The list and breakdown of these countries are as follows, and the following persons shall be referred to as “Restricted Clients” and each a “Restricted Client”.

Xapo does not allow on-boarding of persons located in the following countries/regions:

Crimea (Krym) Region
Cuba
Iran, Islamic Republic of
Korea, Democratic People’s Republic of
Sudan
South Sudan
Syrian Arab Republic
Xapo will not allow on-boarding of nationals of the following countries/regions:

Afghanistan
Belarus
Congo, The Democratic Republic of the
Cote D’Ivore (Ivory Coast)
Crimea (Krym) Region
Cuba
Eritrea
Iraq
Iran, Islamic Republic of
Korea, Democratic People’s Republic of
Lebanon
Liberia
Lybia
Myanmar (Burma)
Sudan
Sierra Leone
Somalia
South Sudan
Syria (Syrian Arab Republic)
Yemen
Zimbabwe