TERMS OF SERVICE

TERMS OF SERVICE

Last updated: February 08, 2018

This document acts as an agreed upon Terms of Service (hereinafter, "Terms" or "Terms of Service") between you (hereinafter, "Purchaser", "Buyer", "User", or "you") and Bitrent LP (hereinafter, "Bitrent" or "Company"). You accept these Terms when you purchase Bitrent's RNTB tokens (hereinafter, "RNTB Tokens" or "Tokens") or use Bitrent services or any other features, technologies, or functionalities offered by Bitrent on Bitrent website at https://bitrent.uk/ ,   https://bitrent.io/  and http://tokensale.bitrent.io/   and any related smartphone or mobile application (collectively, "Website") or through any other means (collectively, "Services"). The terms "us", "we" or "our" refer to Bitrent too.

Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service. We will provide notice of any amendment to these Terms by posting any revised terms to the Website and updating the "Last updated" field above accordingly or by any other method we deem appropriate. We are not obligated to provide notice in any other method beyond these. Any change to these Terms will be effective immediately upon such notice and apply to any ongoing or subsequent use of the Website or Services.

By accessing or using the Services you agree to be bound by these Terms. If you disagree with any part of the terms, then you may not access the Services.

This document stipulates general conditions for use of website https://bitrent.io/ . The conditions related with Tokens purchase are determined in RNTB Token Purchase Agreement placed at http://tokensale.bitrent.io/ .

Important information

You acknowledge, understand and agree that:

(a) You are subject to and bound by these Terms and Conditions by virtue of your purchase of RNTB.

(b) Purchases of RNTB are non-refundable and cannot be cancelled, unless otherwise defined in these Terms and Conditions. You may lose all amounts paid.

(c) RNTB may have no value outside of the license to use the Services.

(d) Bitrent reserves the right to refuse or cancel RNTB purchase requests at any time in its sole discretion.

(e) Certain persons, including persons who purchase earlier than you, may receive more RNTB for the same amount paid.

(f)  These Terms and Conditions includes a limitation of liability.

Nothing in these Terms and Conditions shall be deemed to constitute a prospectus of any sort, a solicitation for investment or investment advice nor does it in any way pertain to an offering or a solicitation of an offer to buy any securities in any jurisdiction. Bitrent expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in these Terms and Conditions and the Bitrent White Paper, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.

1. Qualifications of User in Order to Use the Site

You have all requisite power and authority to execute and deliver these Terms and Conditions, to use the underlying Services and blockchain protocol (i.e. the Ethereum blockchain) which creates the mechanism of creation and distribution of RNTB (Token Smart Contract) and purchase RNTB, and to carry out and perform your obligations under these Terms and Conditions and according to the laws of United Kingdom and any relevant jurisdiction in which you reside.

(a) If an individual, you are at least 18 years old and of sufficient legal age and capacity to purchase RNTB.

(b) If a legal person, Purchaser is duly organized, validly existing and in good standing under the laws of its domiciliary jurisdiction and each jurisdiction where it conducts business.

And you have not had your right to use our Service previously suspended or revoked by us.

1.1 Anti-money laundering and regulatory requirements

The funds, including any fiat, virtual currency or cryptocurrency, you use to purchase RNTB are not derived from or related to any unlawful activities, including but not limited to money laundering or terrorist financing, and you will not use RNTB to finance, engage in, or otherwise support any unlawful activities. All payments by you under these Terms and Conditions will be made only in your name, from a digital wallet or bank account not located in a country or territory that has been designated as a "non-cooperative country or territory" by the Financial Action Task Force, and is not a "foreign shell bank" within the meaning of the U.S. Bank Secrecy Act (31 U.S.C. § 5311 et seq.), as amended, and the regulations promulgated thereunder by the Financial Crimes Enforcement Network, as such regulations may be amended from time to time.

1.2 Taxes

The purchase and receipt of RNTB may have tax consequences for you, you are solely responsible for your compliance with your tax obligations and Bitrent bears no liability or responsibility with respect to any tax consequences to you.

You understand that RNTB do not represent nor do they entitle the holder, in any way whatever, to a:

(a) Depository Account;

(b) Custodial Account;

(c) Cash Value Insurance Contract;

(d) Annuity Contract; or

(e) Equity and/or Debt Interest in Caviar;

as such terms are defined in the applicable legislation.

1.3 White Paper

Bitrnet has prepared the White Paper, which is available at bitrent.io, describing matters relating to the Services and RNTB. The White Paper is hereby incorporated by reference. You acknowledge that you have read and understand the White Paper and its contents. If there is any inconsistency between the terms of the White Paper and these Terms and Conditions, these Terms and Conditions shall govern.

2. Illegal and Prohibited Use

In addition to point 1.1. you represent and warrant that you will not use the Website or Services for any criminal, illegal, or otherwise prohibited use, including, but not limited to, activities related to money-laundering, drug trafficking, human trafficking, weapon trafficking, terrorism, securities fraud, or tax evasion. You represent and warrant that you will not use our Website or Services to assist any other party in such illegal activity. You represent and warrant that you will not in any way use the Website or Services to: distribute spam, junk communications or chain letters; reverse engineer or otherwise improperly access any of the Website's or the Platforms underlying code or technical mechanisms; cause damage to the Website or Bitrent through any means, including, but not limited to, through the use of hacking, malware, viruses, illegitimate credentials, phishing, brute force attacks, SQL exploits, or any other method of detrimentally intercepting, interrupting, or damaging any information or functionality related to the Website. You also agree not to transfer access to your Account, as defined below, or any other rights granted to you by these Terms.

3. Registration and Account

The use of our Services requires you to create an account with Bitrent (hereinafter, "Account"). You warrant and represent that all information provided when creating such an Account is current, complete, and accurate. You agree to promptly notify Bitrent of any changes to any information that would cause the information provided upon your Account's creation to no longer be current, complete or accurate.

4. Scope of Information

You warrant and represent that you understand that Account may be registered incompletely until you confirm your email address in a manner deemed suitable by us. Bitrent may request you to provide additional information, such as proof of your identity, physical address, and source of funds at any time to use our Services. If you refuse to provide such information or it will be determined that you may not use our Services for any reason, you will be denied Services. In such case, your purchase of Tokens will be cancelled and you will receive a refund in the same form of payments as was made by you and to the same wallet address, bank account, or a third party payment processor where your funds were transferred from. We may deduct the transaction cost from the refund amount, if any. Scope of information to be requested from each user may differ. 

5. Exclusive Use of Account

You agree that you exclusively will access and use your Account, and may not transfer the right of its use or disclose any log-in credentials to a third party without our written consent. You agree to take full responsibility for any activity that occurs through the use of your account, and cannot transfer this obligation to any third party. You agree to notify Bitrent if you discover or suspect any security breaches or vulnerabilities related to the Website or Services. Depositing of funds in account is effected without any confirmations from Bitrent, except for displaying of updated deposit balance in Account at Website.

6. Agreements on Special Conditions

Bitrent has the right to enter into agreement with any of Purchasers on special conditions, including commercial conditions, which may be different from those stipulated by this Terms.

7. Damages Caused by Vulnerabilities Inherent in the Internet or in Blockchain

Use of the Internet may not be secure. You agree that Bitrent is not responsible whatsoever for any damages caused by the interception, loss or alteration to any information sent over the Internet. While Bitrent will take reasonable steps to ensure the security and privacy of any information transmitted during your use of our Services, in no event will any such information be considered "confidential" or will its disclosure to a third party, accidental or otherwise, cause liability against Bitrent, even if it occurs as a result of our negligence. Bitrent takes every reasonable precaution to prevent and mitigate attacks. However, these problems still may occur from time to time for reasons that are out of our control. If Bitrent believes its Website or any Tokens located on the Website has been compromised or is under attack, Bitrent reserves the right to immediately stop all Services provided through the Site. If it is determined that such an attack caused an associated Token to rapidly lose value or otherwise cause or threaten to cause damage to the Site, or other users, Bitrent may immediately discontinue all activity regarding to such Token entirely at its discretion. Resolution concerning deposits, withdrawals, Account balances, Services or other disputes related to an attacked Token will be determined on a case-by-case basis. Bitrent makes no representation and does not warrant the safety of the Website and is not liable for any lost value or stolen property, regardless of whether Bitrent was negligent in providing appropriate security.

In order to avoid such damages described above you will implement reasonable and appropriate measures designed to secure access to:

(a) any device associated with you and/or utilised in connection with your purchase of RNTB,

(b) private keys to your wallet or account and

(c) email address, account and your username, password and any other login or identifying credentials.

8. Bitrent Does Not Provide Legal, Financial, or Other Professional Advice

In no way should our providing of Services be considered legal, financial or any other kind of specialized or expert advice on which the User might detrimentally depend, causing liability against Bitrent. In using the Site, you represent and warrant that you have sought any legal, financial or otherwise specialized advice from an expert qualified to provide such counsel, or else you have the sufficient knowledge and sophistication to evaluate the risks and merits associated with Blockchain and/ or Token management and offerings and to competently use our Services. We give no warranty regarding the suitability of any Tokens or our Services and assume no fiduciary duties to you. You represent and warrant that you understand that any recommendations or commentary made by Bitrent or its employees or other users should be considered generalized in nature, and you should use your own judgment or seek the advice of an expert before taking any action regardless of such statement. We give no assurance as to the accuracy or completeness of any such statement.

9. License

We grant you a limited, nonexclusive, nontransferable license (hereinafter, "License") to access and use our Website and Services. This License is subject to these Terms. Any other use of the Services not expressly permitted by these Terms is prohibited. All other rights are expressly reserved by Bitrent and our licensors, including that to any content or functionality as presented on the Website or Services. "Bitrent", "Bitrent.io", all logos related to Services or displayed on the Website are trademarks or registered marks of Bitrent or its affiliates. You will not redistribute, claim ownership, license, deconstruct, reverse engineer, alter, incorporate into any other works or websites, or otherwise exploit any such content or functionality without prior express written consent of Bitrent.

10. Termination

We may terminate or suspend your License to our Services without prior notice or liability for any reason whatsoever, including, but not limited to, if you breach the Terms. Nothing in these terms or in any other communication or action by Bitrent or our employees, agents or representatives should be taken as a waiver of any legal remedies available for any event causing termination. All provisions of the Terms which by their nature should survive termination shall survive termination, including (but not limited to) ownership provisions, disclaimers or limitations of obligations or liability, and indemnity. 

11. Copyright of Communications In Connection With Our Services

You agree that any materials, information or communications transmitted between the User and Bitrent in any form and by any means are non-confidential and will become the sole, exclusive property of Bitrent. Bitrent will own all intellectual property rights to such communications or materials and can use or disseminate them in a completely unrestricted fashion for any legal purpose, commercial or otherwise, without notifying or compensating you. You hereby waive any right to litigation or recovery for perceived damages caused by the use of this information as is permissible by law.

12. Indemnification

You agree to indemnify, exculpate and hold Bitrent, its representatives, affiliates, employees and service providers harmless from any claim or demand permissible by law arising out of or related to the use of the Services, including but not limited to any breach by you of these Terms or violation of any law, rule, or rights of a third party. You agree to pay for any legal fees or other costs that incurred by Bitrent or any other indemnified parties as a result of your actions.

13. Disclaimer of Warrants and Guarantees

Bitrent does not guarantee any level of performance or the continued, uninterrupted availability of our Services. We do not guarantee the accuracy of any information provided on the Website. We hereby disclaim all warrants and guarantees that not expressly made in these Terms.

14. Applicable Law and Venue

The validity, interpretation, construction and performance of these Terms, and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of United Kingdom, without giving effect to principles of conflicts of law. RNTB Token Purchase Agreement, Matrix of Risks, Terms of Service, and Privacy Policy are a single set of rules which regulate the relationships between Purchaser and Bitrent. You cannot accept it in parts, this set of rules should be accepted in full.

15. Arbitration

Except for any disputes, claims, suits, actions, causes of action, demands or proceedings (collectively, "Disputes") in which either Party seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, including, without limitation, copyrights, trademarks, trade names, logos, trade secrets or patents, you and Bitrent (i) waive your and Bitrent's respective rights to have any and all Disputes arising from or related to this Agreement resolved in a county court, and (ii) waive your and Bitrent's respective rights to a jury trial. Instead, you and Bitrent will arbitrate Disputes through binding arbitration (which is the referral of a Dispute to one or more persons charged with reviewing the Dispute and making a final and binding determination to resolve it instead of having the Dispute decided by a judge or jury in court).

16. No Class Arbitration, Class Action or Representative Actions

Any Dispute arising out of or related to these Terms is personal to you and the Bitrent and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which an individual attempts to resolve a Dispute as a representative of another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.

17. Arbitration Procedure

Any arbitration will occur in London, United Kingdom. Arbitration will be conducted confidentially by a single arbitrator in accordance with the LCIA Arbitration Rules of the London Court of International Arbitration, which are hereby incorporated by reference. The LCIA Arbitration Rules of the London Court of International Arbitration are available on the LCIA website. By agreeing to be bound by these Terms, you either (i) acknowledge and agree that you have read and understand the LCIA Arbitration Rules, or (ii) waive your opportunity to read the LCIA Arbitration Rules and any claim that the LCIA Arbitration Rules are unfair or should not apply for any reason. The language of the arbitration shall be English. Otherwise, the jurisdiction for arbitration shall be determined according the applicable law.

18. Survival and Severability

Any portion of these Terms that reasonably should survive the termination of your License or any other agreement is hereby agreed to do so. If any provision of these Terms is deemed illegal, invalid or otherwise invalid for any reason, then that provision will be severed and the rest of these Terms will remain intact and enforceable. 

19. Integration

Our failure to exercise or enforce any rights or provisions of these Terms does not constitute a waiver of those rights or provisions. These Terms represent the entire and complete agreement between the User and Bitrent, including any future modification of these Terms, superseding any prior agreements or communications between you and us. Any ambiguities in these Terms shall be construed in the light most favorable to Bitrent.

20. Act of God

Bitrent' performance under these Terms shall be excused if the failure of such performance is caused by forces beyond its reasonable control. This includes (but is not limited to) acts of God, acts of any government, war or civil unrest, severe weather, fire, natural disasters, political embargos, terrorism, power or equipment failure, industrial or labor disputes or controversies, acts of any third party, or blockchain failures.

21. Contact Us

If you have any questions about these Terms, please contact us at [email protected] 

The buyer will click check box on the official website to indicate that the buyer has read, understood and agreed to the terms Terms of Token Sale, Terms of Service, RNTB Token Purchase Agreement, Matrix of Risks and Privacy Policy.