Thank you for choosing Kabru Services, UAB (“Company” or “we”).
This document contains very important information regarding your rights and obligations, as well as conditions, limitations and exclusions that might apply to you in relation to our services (Services), please read it carefully. By signing up through our website or via our mobile application (“Website” or “Platform”) you agree that you have read, understood, and accepted all of the General Terms and Conditions (“Terms”). You also agree that the Terms are concluded in English.
1.1. The Company reserves the right to amend, modify, change, or revise these Terms at any time, in its sole and absolute discretion and without prior notice. Any such changes in respect of your use of the Services will take effect when posted on the Website or Platform. We will notify you by email that the Terms have been revised. If you do not agree to the Terms of the revised document, your sole and exclusive remedy is to promptly terminate your use of the Services and close the account.
1.2. All documents and information as described further, incorporated into these Terms by reference, are integral parts of the Terms and together constitute one document and are legally binding to you. The aforementioned documents and information are available on the Website.
1.3. The Company reserves the right to solely select its markets and jurisdictions to operate and may restrict or deny its Services to certain customers, countries, and jurisdictions.
1.4. The Services allow you to make deposits and withdrawals in Virtual Currencies or exchange them into Fiat Currencies and make deposits and withdrawals in Fiat Currencies and Exchange them into Virtual Currencies. The Services also allow you to make EUR denominated Virtual Asset.
2.1. Use of the Platform and/or the Services is limited to legal entities and their representatives. The representatives must be 18 years old or older and have full legal capacity to lawfully enter and form contracts under applicable law.
2.2. The following persons (including their beneficiaries) cannot use the Website and the Services:
2.2.1. Persons - who are on any trade, financial or economic sanctions lists;
2.2.2. Persons - who intend to use the Website and the Services for any illegal activity, including, but not limited to, money laundering and the financing of terrorism;
2.2.3. Persons who fail to meet any Customer due diligence standards, requests or requirements of the Company and/or are deemed high risk by the Company according to criteria established at the sole discretion of the Company;
2.2.4. Persons who have previously been rejected or deleted from using the Platform and the Services and/or violated these Terms of Service;
2.3. By accessing and using the Website and any of the Services, you acknowledge, declare, and expressly represent and warrant that none of the aforementioned circumstances of eligibility is applicable to you.
2.4. To use the Services, including any or all functionalities of the Website, we require you to register - on the Website and provide any requested information. As part of our registration procedure, we will conduct a verification process to the extent we deem necessary and verify your identity and eligibility to use our Services or the Website.
2.5. You further represent and warrant that:
2.5.1. the legal entity is duly organised and validly existing under the applicable laws of the jurisdiction of its organisation; and
2.5.2. you are duly authorised by such a legal entity to act on its behalf.
2.6. Your verified account is specific to that legal entity and can only be used by the person who registered it. Corporate accounts are not allowed to be shared with or used by other individuals or entities.
2.7. We will establish an account for you or continue the provision of the Services only after the verification process has been completed. The extent of verification depends on your overall risk-profile.
2.8. The Company, at its sole discretion and without indicating the reasons, may refuse to register you or open an account for you at any time.
2.9. For your identification and for the Company to comply with legal requirements, you are required to provide the Company with certain personal information, answer certain questions and take certain actions. By submitting this or any other personal information as may be required, you verify that the information is accurate and authentic, and you agree to update the Company if any information changes. You will thereby authorise the Company to, directly or through third parties, make any inquiries the Company considers necessary to verify your identity and/or to protect against fraud or detect money laundering, financing of terrorism or any other financial crime. Failing to comply with the requirements set out in this article will be considered a valid reason to suspend your account.
2.10. Upon registration on the Website and afterwards you must present only truthful, correct, accurate and complete data about the legal entity, its representatives, and beneficiaries. You are responsible for any losses that occur regarding the submission of invalid/incorrect data. You unconditionally warrant that any information, data and/or content you provide for us:
2.10.1. is truthful, correct, accurate, complete, and not misleading or otherwise deceptive.
2.10.2. does not infringe the intellectual property rights of the Company or any third party such as copyright, patent, trademark, trade secret or other.
2.10.3. does not infringe proprietary rights, rights of publicity or privacy.
2.10.4. does not violate any law, statute, or regulation.
2.10.5. will not create any liability for the Company. Failing to comply with the requirements set out in this clause will be considered a valid reason to suspend the provision of the Services for your account and freeze your funds or terminate the business relationship with you.
2.11. During registration and at any time after registration, you must, at our request, provide the Company with all the required documents and information within the time limit and in the required format (including, but not limited to certified, apostilled, or notarized copies) specified by the Company at your own expense. You acknowledge and agree that you have the obligation to keep all information provided up to date and will promptly inform the Company about any amendments of the documents and information previously submitted by you to the Company.
2.12. Verification of your account will be determined at our sole discretion. Failure to completely verify your account may result in account closure and such a decision will be made by us at our sole discretion and, where applicable, a statutory action will be taken against you.
2.13. You are responsible for all activities that occur under your account, all damages caused and accept all risks of any authorised or unauthorised access to your account to the maximum extent permitted by law.
2.14. the Company reserves the right to suspend or close the accounts if the Company suspects or detects any of the following:
2.14.1. the account or Services are or may be used for any illegal activity, in an unauthorised or fraudulent manner.
2.14.2. the account is or may be used by persons other than the persons whose names they are registered under.
2.14.3. the Customer has violated these Terms (including any documents incorporated herein by reference).
2.15. the Company also reserves the right to suspend or close the accounts if:
2.15.1. such action must be taken under the applicable law or under any official authority request or recommendation.
2.15.2. such action must be taken under these Terms (including any documents incorporated herein by reference).
2.15.3. the Company considers it reasonable and prudent to take such action.
2.16. the Company will not take any legal responsibility for losses in relation to suspension and closure of accounts or certain Services or the freezing of funds.
3.1. The Company reserves the right to run scans and review all Virtual Currency wallet addresses used to deposit funds to the exchange, using suitable third-party software. For compliance reasons (e.g. the Company has established that the customer is carrying out a suspicious transaction; the Company knows or suspects that assets of any value are obtained directly or indirectly from criminal activity or participation in such activity; other compliance related reasons) the user's account may be frozen and therefore you, as the user, will not be able to access any funds until an investigation is complete.
3.2. In the event we receive a customer complaint or law enforcement enquiry with regards to potential fraud or other illegal activity on the part of the accountholder, then we will immediately freeze the account. Should enforcement still be pending after 12 months, or no client resolution is received, then the accountholder will forfeit any funds frozen.
3.3. Please note that any Virtual Currencies deposited are automatically converted to EUR. The value of the funds returned will be in EUR at the prevailing rate at the particular date and time of the deposit. The Company shall in no way be held liable for any potential increases or decreases in the applicable exchange rate.
3.4. Given that the market for Virtual Currencies is relatively new, the legal nature of Virtual Currencies is, in most jurisdictions, yet to be determined by statute, regulation, or case law. In the absence of such authority, it is not clear how a regulator or court may treat interests or rights arising from trading in Virtual Currencies.
3.5. It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the Website. Your transaction history is available through our Website on your personal account.
4.1. You agree to pay the Company fees for Services. The fees are determined at our sole discretion and are non-negotiable. If you do not agree with the fees, you will not be able to use the Services. We may change the fees at any time at our sole discretion and without your consent.
4.2. Information about the applicable fees will be clearly displayed prior to executing a transaction. By confirming the fees online, and clicking to execute a transaction, you accept the fees displayed and levied.
5.1. Unless otherwise indicated by us, all materials including, but not limited to the Company logo and all designs, text, graphics, images, information, data, software, service marks, sound files, other files and the selection and arrangement thereof, remain the intellectual property of the Company and are therefore protected by applicable intellectual property laws. The foregoing also applies to any software solutions or parts thereof.
5.2. You are only permitted to use our intellectual property to the extent it is reasonably necessary for you to use the Website and the Services. It is prohibited to sell, distribute, publicly display, modify, otherwise alter, or make any derivative use of the materials, unless you have been granted an express and written prior permission to do so by the Company.
6.1. We are committed to storing your wallet data, using firewalls, antivirus software, SSL certificates to secure your account.
6.2. The Company reserves the right to carry out both scheduled and non-scheduled maintenance of our systems, update and improve them without notice. During maintenance the Services may be temporarily unavailable. However, the Company is not responsible for any damages that may result from the interference of the Services while under maintenance.
6.3. In case of violation of your account's security, we reserve the right to suspend access to the account so that we can ensure further safe and comprehensive functioning of the Services. We are not responsible for losses incurred due to such a suspension of access to the account.
6.4. The Company will not be liable for your computer, device and/or internet connection, operation of the Virtual Currency peer-to-peer network and any Virtual Currency related software. It is your sole responsibility to safeguard your account credentials, passwords and login data as well as your email account and devices used to login to your account and/or authorise transactions. It is your responsibility to safeguard your email account, phone and other means and devices that you use to login to your account and/or use to authorise your transactions. the Company does not undertake to secure any of these means and/or devices and will not be liable in the event they are breached, lost, or stolen and this results in potentially unlawful or unauthorised use of your account.
6.5. In the case of unauthorised access to your account and loss of funds, the Company does not undertake to remunerate your losses. You must personally refer to the competent authorities.
6.6. You are solely responsible for maintaining the confidentiality of your account information, including your unique login ID and password, and the use thereof. We recommend that you never share or disclose your account information with anyone, that you secure your password, change it from time to time, and always log out when you are finished using the account.
7.1. These Terms are governed by and interpreted in accordance with the laws of the Republic of Lithuania.
7.2. Any disagreements or disputes between you and the Company, arising from the use of Services and being regulated by these Terms will be brought before the competent courts, unless they are settled by negotiations between the Parties. Court jurisdiction is in the city of Vilnius, the Republic of Lithuania. If you are unhappy in any way with your account or the way it is managed, you can contact the support service which is available via email support@kabru.com.
7.3. We invite you to raise your issue first by contacting our support service before bringing any legal action before the courts. We are committed to properly investigating your matter and, where possible, offering you a solution.
8.1. We will only use your personal information where we have a lawful basis to do so. We will usually only use your information:
8.1.1. where it is necessary for us to create your Account and provide our services to you.
8.1.2. in a way which might reasonably be expected as part of running our business, and which does not materially impact your interests, rights, or freedoms.
8.1.3. to comply with our legal obligations (fraud and money laundering checks).
8.1.4. where you have consented to us using your data, for example, where you subscribe to our email newsletter.
8.1.5. when you contact us.
8.2. We will disclose your information to fraud prevention agencies for the purposes of preventing fraud and money laundering and to any other third party if we are under a duty to disclose or share your personal data to comply with any legal obligations, or are under an order to enforce or apply our Terms and Conditions.
8.3. We will retain your personal information for as long as you continue to use our Services. Thereafter, we retain your information for an additional period as is permitted or required under applicable laws.
8.4. If you believe that we have infringed your rights, we encourage you to first submit a request via our support service so that we can try to resolve the issue or dispute informally.
8.5. the Company is not liable for any indirect or consequential damages, including, without limitation, the loss of profits. The liability of the Company is limited to the amount which is deposited into your account.
9.1. By opening an Account and using the Services, each customer fully acknowledges that the Company does not provide to the customer any investment service or advice. Each customer fully acknowledges that any information or Service provided by us on our Website is not considered investment advice or recommendation, and independent professional advice should be sought where appropriate.
9.2. Your account is not a bank account, payment account, electronic money account or interest-bearing account and it cannot be associated with these types of accounts and their benefits.
9.3. The Company brand functions under the company Kabru Services, UAB registration number 306058134, which is a registered Virtual Currency Exchange and Virtual Currency Wallet Service provider in Lithuania.
10.1. Each customer may act as a referrer (Referrer) and utilise its experience, expertise, and contacts to refer potential customers to the Company for the Company’s Services. All agreements for the Company’s Services will be between the Company and the Company’s customers. The Referrer will have no authority to enter into any agreement with respect to the provision of the Company’s Services or to bind the Company in any way and shall not represent to any potential customer or any other third party that it has such authority. To sign up for the referral program, the Referrer needs to be a registered user on the Platform. Once logged in, the Referrer shall navigate to the referral section in an account dashboard and follow the instructions to get a unique referral link. The Referrer is entitled to get referral fees only if the new referred customer uses the link provided by the Referrer when opening an account. The Company will not be under any obligation to enter into an agreement with any potential customer, and any sales of the Company’s Services will be subject to the approval of the Company. The Terms do not obligate the Referrer to provide referral services or any other services to the Company. The Referrer will not be required to devote any specific amount of time to rendering services under these Terms.
10.2. In return for providing a referral, one of, or a combination of, referral fees, commission splits or other compensation to the Referrer may be paid. Referrals shall only be done via a referral link. A customer is regarded as introduced once it is onboarded to the Company’s platform and makes a transaction within three months from the date of onboarding (passing KYC and KYB processes). All referral fees will be paid from the Company to the Referrer. Referral fees are payable weekly unless a bespoke fee arrangement has been negotiated. In this case, fees are paid within 30 days of the end of each calendar quarter based on receipt of a VAT invoice. Referral fees are paid on the volume of transactions and the fee income EARNED from the referred client. The sum payable is generally calculated as follows: Billable transactions, multiplied by the Company’s fee rate, less the Company’s cost for providing the services, multiplied by the commission percentage agreed.