User Agreement

The present Agreement is a legally binding agreement between you and Copernicus Gold Singapore Pte. Ltd. company.

THIS IS AN IMPORTANT DOCUMENT YOU SHALL CAREFULLY READ IN ORDER TO MAKE A DECISION ON USING COPERNICUS GOLD SYSTEM.

READ THE PRESENT AGREEMENT CAREFULLY

BY REGISTERING IN AND ENTERING COPERNICUS GOLD SYSTEM YOU CONFIRM THAT YOU HAVE READ AND UNDERSTOOD THE PRESENT AGREEMENT AND AGREE TO BE BOUND HEREBY.

Copernicus Gold works with stored value facilities (SVF), provides access to the Services of Copernicus Gold through the Internet and USSD.

We have the right to amend and update the present Agreement, delete any terms hereof, and make additions and adopt new annexes hereto, make changes to the fees and other amounts charged related to your User Account, at any time, by publishing a new edition of the Agreement on the Website of Copernicus Gold at least 10 days prior to the moment the new edition comes into effect. We will inform you additionally about any change by sending the relevant notifications to you.

Upon your reception of a notification of the changing of the Agreement, you shall read the new edition of the Agreement and accept the new conditions stipulated therein in order to continue your use of Copernicus Gold System and any of the Services provided by Copernicus Gold System. In event of disagreement on the new edition of the Agreement or any of its parts, you shall immediately discontinue our relationship with no additional fee or fine charged.

We have the right to contravene the term of advance publishing of a new edition of the Agreement in case such Changes are required by law or relate to the introduction of new services, additional functions to the existing Services or any other changes which may neither restrict your rights nor extend your liability limits. In such cases, the Changes are made without prior notification of the Users and come into effect immediately.

In the case at any moment you no longer agree to those terms or other conditions, you shall immediately discontinue our relationship.

In the case you intend to close your User Account, you must understand that you may be liable to us after the termination of the present Agreement for any of your obligations arisen and such which you were liable for before the termination of the present Agreement.

Please note that upgrading your account to relevant SVF and passing verification would significantly improve available functionality and user experience.

The present Agreement shall remain in effect until your User Account is closed in compliance with the procedures required by the System. Copernicus Gold may terminate the present Agreement for any reasons, including breach of the conditions of the present Agreement by you, with such termination immediately taking effect.

The present Agreement contains a legally binding provision regarding arbitration dispute settlements, which impacts your legal rights and may be executed by enforcement.

Unless the context otherwise requires, the terms used in the text, starting with uppercase letters, shall, herein and in the course of our further contacts and correspondence with you, bear the relevant meanings thereof described in the “Definitions” section.

1. Definitions

The following terms starting with uppercase letters shall, in the present Agreement and in the course of any our further correspondence with you, bear the following meanings:

“Agreement” means the present Agreement effective on a particular day, including any annexes hereto, policies and Fees, as well as all of the forms filled out by you in compliance with the System’s requirements, regardless of the time and manner of the provision thereof.

“Copernicus Gold Singapore Pte. Ltd.” or “Copernicus Gold” means Copernicus Gold Singapore Pte. Ltd. company registered in Singapore with UIN 201616739Z, which is the SVF holder and the operator of Copernicus Gold System and provides services for the receipt, storage and transactions of funds to the Users of the System.

“Copernicus Gold System”, “System” - the payment system, as construed in accordance with the Payment Systems (Oversight) Act, operating stored value facilities (SVF), and includes the Services, any rules, procedures and instruments related to the payment system whose holder and operator is Copernicus Gold Singapore Pte. Ltd.

“Services of Copernicus Gold” or “Services” mean all our products, services and any functions, technologies and/or functional abilities provided by Copernicus Gold System.

“System’s Interface” is the combination of the tools with help of which a User utilizes the System’s abilities and receives the information on their account, gives instructions to carry out transactions with the funds on their User Account via USSD-requests, SMS-passwords, the mobile application, the Website of Copernicus Gold and other tools of the System.

“Stored Value Facility”, “SVF” - as construed in the Payment Systems (Oversight) Act 2006 including any amendments and supplements thereto from time to time.

“Stored Value” or “Monetary Funds” mean the amount of the funds deposited in advance and stored by Copernicus Gold Singapore Pte. Ltd. company for the purpose of the use thereof by the Users as a means of payment for products and services in one of the Applicable Currencies, and for other lawful purposes.

“User” or “Client” mean an individual, an entrepreneur or a body corporate having a User Account in Copernicus Gold System.

“Website of Copernicus Gold” means the website https://copernicusgold.com and its subdomains via which you may also use the System.

“MAS” means the Monetary Authority of Singapore.

“Privacy Policy” is an annex to the present Agreement, containing the terms of personal information protection applied to your personal information in terms of the Privacy Policy of Copernicus Gold which may be found on the Website of Copernicus Gold.

“Applicable Currencies”, as defined, are the currencies which Copernicus Gold System operates and which are accounted on SVF User Accounts.

The information on the currencies which the system operates is published on the Website of Copernicus Gold, and available via other tools of the System’s Interface.

“Recipient” means an individual, an entrepreneur or a body corporate who/which a payment is carried out by means of Copernicus Gold System is addressed to.

“Sender” means an individual, an entrepreneur or a body corporate who/which sends funds via Copernicus Gold System.

“User Account” means the account in Copernicus Gold System related to a User of the System. The term “User Account” in the present Agreement shall be considered related to a Personal Account or a Business Account as well, unless otherwise specifically stated.

“Personal Account” means a User Account created mainly for personal, family or household needs.

“Business Account” means a User Account created mainly for the purpose of commercial activities, but not for personal, family or household needs.

“SVF Account” is an account in the System which is connected to a User Account and is intended for storing a monetary value in one of the Applicable Currencies. The Users may hold SVF Accounts in Singaporean dollars or other types of the Applicable Currencies. Depending on the context, the term “SVF Account” may as well be used with an indication of the type of the Applicable Currency it is held in.

“Verified Account” is a User Account in connection to which a Client identification and verification procedure has been conducted in compliance with the requirements imposed by the System. The User of a Verified Account has unrestricted access to all the services and operations implemented in the System.

“Unverified Account” is a User Account in connection to which a Client identification and verification procedure has not been conducted in compliance with the requirements set out by the System. The User of an Unverified Account may at any moment pass the procedure of complete identification of a Client, after which their Account becomes a Verified one.

“Identification” is a special procedure for collection of information on the Client and, if applicable, Account Administrators and beneficial owners.

“Verification” (“Verification of Identity”) is a procedure of verification and confirmation of the accuracy of the information on a Client, and, if applicable, Account Administrators and beneficial owners.

“Account Administrator” is the individual authorized by a Client to administer an SVF Account connected to a Business Account.

“We” and “our” refers to Copernicus Gold Singapore Pte. Ltd. company.

“You” and “your” in any gender or case, singular or plural, refers to an individual who accepts the present User Agreement, and to the body corporate represented by such an individual.

2 General Terms

2.1. Our relationships with the User are described in the present Agreement and are regulated hereby. The Present Agreement is applied to your use of Copernicus Gold System and any of the Services provided to the User by the System.

2.2. Subject to the set limits, Copernicus Gold System provides the Users with the services of storage and transferring of stored value in any of the Applicable Currencies, as well as of conversion of the Users’ stored value from one Applicable Currency to any other (Applicable Currency).

2.3. Payments inside the System (transfers between the Recipients, conversions between a User’s SVF Accounts) are carried out without the involvement of banks and are transferred between the SVF Accounts owned by the Recipients in the relevant Applicable Currency. Upon the carrying out of payments inside the System, the Users are charged commissions in accordance with the System’s Fees.

2.4. Copernicus Gold System does not accept, dispense or otherwise use cash in its Services.

2.5. If you use the services of Internet service providers, mobile/landline carriers, providers of mail or any other such services to use any of the Services, you shall bear the responsibility for any fees which such connection providers charge for such use, including the payments for SMS, data use, etc. Any such your provider does not relate to Copernicus Gold System’s providers.

2.6. Copernicus Gold Singapore Pte. Ltd. is an independent provider of funds storage and transferring services and is not your agent or authorized representative. We do not have control over or bear any responsibility for the products and services which are paid for via the Services, and are not responsible for the fulfillment of the obligations of a deal paid for via the System by a party of such a deal. You are solely responsible for choosing your contractors and do face all risks of unfilfillment of their obligations to you. We shall not bear any responsibility for any fraud or bad faith practices committed by the entities that you deal with in terms of using the Services.

2.7. Copernicus Gold is not a bank. The stored value on your SVF Accounts is not a deposit, and your account is not a bank account. Because Copernicus Gold is not a bank, the monetary funds on your accounts are not insured by the state or another authority because the funds insurance system is applicable solely to the banks which bear contractors’ risks and offer credits. You agree to not receiving an interest or another increment on the Monetary Funds from Copernicus Gold. Copernicus Gold does not use any Users’ funds for giving credits, issuing securities, defraying its operational costs or in any other way, except for following your instructions in relation to the transactions initiated by you.

2.8. The activities of Copernicus Gold Singapore Pte. Ltd. are not brokerage activities or such of trade or exchange of securities, investment contracts or other documents, instruments or texts usually named “securities”, as a matter of law.

2.9. The present Agreement is applied to solely the Services which are implemented in the System and which you are connected to. Any terms of the Agreement regarding the Services named therein but not in fact implemented in the System, or those you do not use, come into effect only upon the implementation thereof in the System and/or your connection thereto.

2.10. Copernicus Gold Singapore Pte. Ltd. has the right to, in its sole discretion, set the terms of the introduction of the services not implemented, or refuse the implementation thereof. We do also have the right to refuse the provision of certain or all the services, giving you the ability to manage your monetary funds.

2.11. Any operation on a Client’s SVF Account is carried out, provided that the remainder of funds thereon is sufficient for carrying out the transaction and paying the relevant commissions of the System, and also paying the other costs of the carrying out thereof, if any such are incurred. Withdrawal of funds from the Clients’ SVF Accounts, exceeding the remainders thereon, is not allowed, the System does not give loans or overdrafts to the Clients.

2.12. Any operations in the System may only be carried out in compliance with the restrictions imposed by the law against money laundering and financing of terrorism. For the purpose of reduction of risks, protection of the Users from losses, or prevention of fraud, Copernicus Gold may, in its sole discretion, impose restrictions on the amount, the types and the number of operations via the Services. The mentioned restrictions are imposed in the System’s Fees.

2.13. You are responsible for the accuracy of your instructions as to the carrying out of any transactions with your monetary funds (SVF) by the System. Having been sent by you in any form, your instructions will be final and irrevocable. The monetary funds (SVF) errantly sent in accordance with your instructions will not be refundable by means of the System.

2.14. You shall be obliged to timely review any messages from the System and the transaction history on your SVF Accounts. You shall immediately notify us of any errors or problems, and also of the transactions you do not agree to, within 2 (two) calendar days of the relevant transactions.

2.15. Copernicus Gold acts on your behalf keeping the records related to your User Account. You understand and agree that (1) you are responsible for the accuracy and relevance of all the information provided by you, (2) your failure to provide accurate and relevant information may lead to measures taken against your User Account, the access to Copernicus Gold System may be revoked, and may lead to authorities’ actions in relation to your User Account, or other sanctions and actions defined by the present Agreement and the applicable law, (3) we do not bear responsibility for any inaccurate or outdated information provided by you via Copernicus Gold System.

2.16. You understand and agree that Copernicus Gold, for the purpose of complying with the law on prevention of legalization (laundering) of illegally received income and financing of terrorism, has the right to request the information on any operations carried out on your SVF Accounts, and require written clarifications and documents for the explanation of the nature and the purposes of the operations. You shall be obliged to provide us with such information and documents. We have the right to suspend the execution of any operation until we are provided with such information and documents by you.

2.17. You understand and agree that Copernicus Gold, for the purpose of complying with the law on prevention of legalization (laundering) of illegally received income and financing of terrorism, has the right to refuse to carry out operations, and the right to block a User Account and, if required by law, inform the relevant competent authorities of any transactions and disclose other information thereto.

2.18. Any commissions and fees payable in accordance with the present Agreement and the System’s Fees are subject to withholding by the System from the Clients’ SVF Accounts at the moment of the carrying out of the transaction.

3. User Account Types and the procedure of opening thereof.

3.1. You may open a non-relevant Personal Account in Copernicus Gold System.

3.2. A Personal Account may be opened by adult sui juris individuals having the right to enter into an agreement for the purpose of opening a Personal Account. If you are an individual, by creating a Personal Account with us, you fully understand and guarantee us that you act solely on your behalf and for your own benefit. You shall be obliged to use the Personal Account solely in your personal or your family’s interests.

3.3. In order to open a User Account, you assume the obligation to provide us with accurate information and documents in compliance with the System’s requirements published on the Website of Copernicus Gold. On top of that, you shall be obliged to, upon our request, provide any other information and documents in compliance with the System’s requirements, for the purpose of verification of the information provided by you, and, as well, in compliance with the requirements of the law on prevention of legalization (laundering) of illegally received income and financing of terrorism. Upon such verification User Account might be transferred from non-relevant SVF to relevant SVF, giving the User significantly better functionality. At that point, relevant SVF User Agreement shall apply. Relevant SVF User Agreement is available on the Website at all times.

3.4. By agreeing to the conditions of the present Agreement you give us the power to, directly or with the assistance of third parties, comply with any requests which we deem to be necessary for verification of your identity, as well as for verification of the accuracy of the information provided by you. You grant us the right to request your credit history or verify the information provided by you, with the use of third-party databases or any other lawful information sources.

3.5. For the purpose of verification of the information provided, we may require you to perform certain actions for verification of your ownership of your e-mail address, mobile phone number, as well as for verification of the accuracy of the information and the documents provided by you. You assume the obligation to perform such actions, inter alia, by means of the System’s tools.

3.6. We shall have the right to, in our sole discretion, from time to time require you to verify the accuracy and currency of the information you have previously provided us with, request confirming documents and undertake other measures for Identification and Verification.

3.7. We retain the right to prevent, block and restrict access to your User Account, SVF Accounts (several or all) or the Services without explanation in case we have AML/CFT concerns or under applicable law.

3.8. A decision on opening a User Account is made by us after the conduction of the Identification on the basis of the documents or information provided by you, as well as the information we, in accordance with the present Agreement, have the right to collect independently. Copernicus Gold Singapore Pte. Ltd. has the full right to refuse to open a User Account without giving an explanation.

3.9. After reception of a notification of the opening of your User Account from the System, you acquire the ability to use the Services available to your account type in accordance with the rules of the System (Copernicus Gold System).

3.10. After the opening of your User Account, you may fill your SVF Accounts by wire transfer from your bank account. If you wish to have access to any other means provided by the System or receive funds from other Users, you have to pass identification and verification and update your User Account to the relevant SVF in accordance with AML/CFT regulations.

3.11. The depositing of the funds to your SVF Account is carried out by the System in the currency which the payment has been sent in by you or the Sender, provided that the operation is compliant with the law and the System’s rules.

4. Operations on a User Account

4.1. Sending payments

4.1.1. After depositing of monetary funds to your SVF Account, you will be provided with access to the Services relevant to your Account type. You may carry out payments to merchants and pay for goods and services:

In order to carry out a payment to a Recipient merchant, you must choose the corresponding option in the System’s Interface, specify the amount of the payment and the Recipient merchant of the funds, as well as other information, if required by the System. After your confirmation of the operation via the System, the funds are withdrawn from the Account of the Sender and transferred to the Recipient merchant’s SVF Account and can not be revoked.

The amount of single transaction, as well as total amount of transactions during month, shall not exceed the limit set in the System.

4.1.2. You bear the responsibility for the accuracy and the relevance of all the information provided by you for the carrying out of each payment, including without limitation the e-mail address, the mobile phone number, the name or the title of the Recipient, the amount of the payment, and for any other information, if required by the System.

4.1.3. Under AML/CFT regulations we have the right to require additional information not required by the System’s standard forms. We have the right to refuse to carry out the operation if the information provided by you is not compliant with the System’s requirements, incomplete or irrelevant, or if you refuse to provide us with the information additionally requested.

4.2. Conversion of the Applicable Currencies

4.2.1. The Users having SVF Accounts in different Applicable Currencies may freely carry out the conversion of one Applicable Currency into another by transferring funds between their SVF Accounts.

The amount of single transaction, as well as total amount of transactions during month, shall not exceed the limit set in the System.

4.2.2. In order to carry out the conversion, a Client must give the System an instruction where they must specify the SVF Account which the transfer of the funds will be carried out from and the SVF Account which the monetary funds will be deposited to. On top of that, the Client must specify the amount of the transfer either in the currency of the SVF Account of the withdrawal or in the currency of the SVF Account of the depositing in another Applicable Currency.

4.2.3. Conversion of one Applicable currency into another is carried out at the rate set by the System at the moment of the conduction of the operation.

4.3. Operations with the digital currency linked to gold

4.3.1 Copernicus Gold System issues a digital currency linked to the physical gold in bullions (“Digital Currency”). The issuance of the digital currency is carried out solely in the amount of the available physical gold.

4.3.2. The digital currency linked to gold is issued by the System in correspondence to the gold in bullions of quality that is not lower than LBMA approved, owned by Copernicus Gold Singapore Pte. Ltd., and stored in depositories in accordance with the “Declaration” of the amount and the quality of gold, substantiating the issuance of the digital currency. The “Declaration” is published on the Website of Copernicus Gold and is subject to regular confirmation by independent auditors.

4.3.3. The unit of value of the Digital Currency linked to gold is a gram of gold.

4.3.4. The purchasing of the Digital Currency linked to physical gold is carried out by conversion of the funds in any fiat Applicable Currency stored on a Client’s SVF Account into the Digital Currency linked to gold.

4.3.5. Conversion of the fiat Applicable Currencies into the Digital Currency linked to gold is carried out in accordance with item 4.4 of the present Agreement.

4.4. Restrictions on operations in the System.

4.4.1. Holders of Unverified Accounts may fill their SVF Accounts solely from their bank accounts, as well as with the use of their bank cards.

4.4.2. Holders of Unverified Accounts have the right to carry out payments solely to the Clients holding SVF Accounts in the System.

4.4.3. An Unverified Account has the following restrictions imposed thereon:

A) The maximum allowable collective remainder on the Client’s SVF Accounts;

B) The maximum amount of a transaction;

C) No payments to the Users not having SVF Accounts in the System are allowed;

D) Withdrawal of funds from the System is prohibited;

E) Receipt of funds to an SVF Account from third parties from outside of the System is prohibited;

The mentioned restrictions are stated in the System’s Fees.

4.4.4. In case a payment in an amount exceeding the maximum allowable collective remainder will be sent to a Client’s SVF Account, the System will deposit the funds not exceeding the set limit to the Client’s SVF Account. The remainder of the funds sent will be returned to the Sender after the deduction of the Commission of the System and, as well, after the deduction of the costs of the bank commissions and other costs of the returning, if any. In case the funds subject to returning do not cover the costs of the returning, we have the right to hold back that amount as a fine and/or a commission in accordance with the System’s Fees.

5. Intellectual property

5.1. You acknowledge that any and all rights to the intellectual property, including the right to the Copernicus Gold trademark, any other trademarks, names, authors’ rights and other rights (“rights of IP”) which are used or mentioned on the Website of Copernicus Gold, are and remain exclusive property of CPN Gold B.V. The CPN Gold trademark is and remains exclusive property of CPN Gold B.V.

5.2. You do not have the right to copy, imitate or use the objects of intellectual property rights without prior written permission of the right holder. On top of that, all the page headings, non-standard graphic images, icons and signs (sets of symbols) are the service signs, the trademarks or the elements of the corporate identity of Copernicus Gold. You do not have the right to copy, imitate or use those without prior written permission of the right holder. You may use the registration HTML-data provided by Copernicus Gold or in the affiliated programs, without prior written permission, for the purpose of the specification of the address, for accessing the Services of Copernicus Gold, but solely in compliance with the conditions of the affiliated programs. You do not have the right to make changes to those registration HTML-data, use those in a manner discrediting Copernicus Gold or the Services of Copernicus Gold, or display those in a manner impairing the financial condition or the public reputation of Copernicus Gold. All the rights, names and interests in or on the Website of Copernicus Gold, any content on that Website, the Services of Copernicus Gold, the technology related to the Services of Copernicus Gold, and any and all the technologies and the content created, or extracted from, any of the mentioned objects are exclusive property of Copernicus Gold and its licensors.

5.3. You promise that you will not try to change, hack, decompile, gain unauthorized access to or otherwise interfere in any of our programs, the mobile application or the Website of Copernicus Gold. You understand that we may immediately close your Account and undertake legal action against you if you breach, or we have reason to believe that you breached, this promise.

6. Ways of information exchange. Communication.

6.1 The main method of communication between you and us in terms of use of the System is the tools available in the System’s Interface. We will not accept any your messages, applications or instructions, if those are available in the System’s Interface but sent to us in any different manner. All the instructions which you give to us in any of the ways implemented in the System’s Interface have the same legal power as if you gave those to us in the written form. You agree that all the calls (on the phone or with the use of other communication tools, including those using the Internet) and electronic messages may be recorded and stored by us as the records of your instructions.

6.2. Any your notifications, applications and messages to us, if those are not supported by the System’s Interface, must be sent via the contact channels specified on the Website of Copernicus Gold.

6.3. We have the full right to not consider and ignore any messages, applications or instructions given by you in the manner not compliant with clauses 6.1. and 6.2. of the present Agreement. You bear all the risks related to breach of the rules of accessing the System.

6.4. We and our providers acting under our instruction may contact you, as well, via automatic or previously recorded messages, on the phone number(s) you have provided us with and/or at the e-mail specified by you during the registration of the User Account. Such messages may relate to (a) the notifications addressed to you, (b) investigations or prevention of fraud, (c) debt collection. We do not share your phone number(s) with third parties, for their own purposes, without your consent, except for the providers with which we have entered into the agreements on the relevant maintenance of operation of the Services of Copernicus Gold.

Such notifications are considered received by you on the day of the sending thereof.

6.5. Notification of any judicial proceedings or other documents in connection with your legal actions against Copernicus Gold must be sent by mail to the attention of the Managing Director to the postal address written on the Website of Copernicus Gold.

6.6. We may send you any messages or requirements by the tools implemented in the System’s Interface and, as well, by mail or phone, fax, the Internet or with the use of other electronic means of communication, to any addresses we know.

7. User Conduct

7.1. You understand and agree that you will not perform the following actions:

A) Use the System for conduction of any business regulated by MAS, business of use of electronic money, for lending or credit activities, sales of money transactions or traveler checks, provision of escrow services, servicing of sites of trade and exchange of virtual/cryptocurrencies;

B) Use the System for payments for illegal or counterfeit products or services, including banned substances, counterfeit consumer goods / infringing merchandise, stolen property, substances not freely circulatable and those being dangerous for consumers, illegal online gambling games and lotteries, financial pyramids, firearm and ammunition trade, any sorts of illegal income laundering, as well as any sorts of illegal activities;

C) Provide Copernicus Gold with false or inaccurate information, including attempts of identity fraud, for example, when specifying false information on the accounts or providing falsified documents, photographs or scans;

D) By means of deceit or misrepresentation, deprive us or other Users of Copernicus Gold of funds;

E) Carry out transactions to pay for debt collection services;

F) Carry out transactions to pay for sexual services;

G) Provide cash withdrawal services on the “white label” basis;

H) Provide the services of a casino or another gambling establishment;

I) Attempt to obtain or actually obtain a double profit for an errant payment from the recipient (for example, a seller), Copernicus Gold or your bank or another financial institution;

J) Conduct any activities which, as Copernicus Gold and its Partners believe, may incur a high level of the risks related to you, your User Account or any your action on the User Account; or

K) Otherwise breach the conditions of the present Agreement or the policies stated herein.

7.2. You understand that any your illegal actions or breaches of the Agreement may be a reason of a temporary or permanent blocking of your User Account, SVF Accounts and the funds thereon, as well as the Services.

7.3. You understand that any your illegal actions or breaches of the Agreement may, if required by the law, be a reason of our application for calling you to account, not excluding criminal liability.

8. Closing your account

8.1 Subject to the provisions of this section, you may cease our relationship with you, at any time and without punitive sanctions, by closing your User Account with the use of the tools of the System and the System’s Interface.

8.2. After closing your User Account we cancel any incomplete transactions unless otherwise statutorily required by law.

8.4. You shall not close your User Account to avoid an investigation by the authorities or Copernicus Gold. If you attempt to close your User Account during our investigation, we may hold back your funds for a period of up to 180 days, for the purpose of protection of Copernicus Gold or third parties from the risk of cancellation, refund, lawsuit, payment of fees, levies, fines, and other financial obligations.

8.5. If you want to close your User Account, you must understand that you shall bear the responsibility to us, after the termination of the present Agreement, for any obligations which you have assumed and those you were responsible for prior to the termination of the present Agreement.

8.6. The cease of our relationship does not negatively impact the rights accrued by the moment of the cease of the relationship, legal remedies, obligations and liabilities of the parties, including the right to require indemnity for losses in event of any breach of the Agreement, which existed on the day of the cease of the relationship, or prior thereto. Any provisions of the present Agreement, which, directly or by implication, remain in effect after the cease of the relationship, remain in full effect.

9. Security

9.1. You bear the responsibility for ensuring adequate security and management of passwords, personal identification numbers (PIN) and any other codes which you use to access the Services of Copernicus Gold. You bear the responsibility for all the instructions given to us online at any place and at any moment when, for accessing your User Account, the correct password is entered, and grant us the power to follow those instructions. PIN codes and passwords are considered equivalents of the User’s personal handwritten signature. Copernicus Gold bears no responsibility for any loss or damage incurred by our trust in your oral or electronic instructions given to us with the use of your Password.

9.2. If you suspect that your password has become known to a third party, you must notify us immediately, and you agree to cooperate with us in terms of any further investigation. Before you notify us, you continue to bear the responsibility for all the transactions carried out with the use of your password. In addition to the Passwords, you may require the undertaking of other security measures which we may implement to ensure the security of your information.

9.3. Copernicus Gold does not store the Passwords, however, you agree to the storing of a hashed password by us. See more detailed information on https://en.wikipedia.org/wiki/Cryptographic_hash_function

9.4. You agree to use reliable means of ensuring security when gaining access and carrying out electronic transactions. Those include logging out and closing any online services of electronic transactions upon the completion of the transactions, regardless of the means of accessing the System. You agree to undertake any measures of ensuring security, which we may recommend at the relevant/given moment of time, in relation to the requirements of the encryption technology, scanning for viruses, software, access protection systems, anti-spy programs, cyber-security measures and similar means of protection, to ensure the security of any electronic operating activity.

9.5. Personal and confidential information, for example, your personal key, is stored on a server, in the form encrypted with help of special tools. The encryption and decryption are conducted with use of the key extracted from your password.

9.6. Any network connection to the servers of Copernicus Gold is protected by Transport Layer Security (TLS) protocol.

9.7. Copernicus Gold carries out the master backup of the records of the right of ownership. The records related to you and your User Account will be changed only after the compliance with your effective instructions, in accordance with the conditions of the present Agreement.

9.8. Copernicus Gold guarantees that at least two storage sites placed distantly from each other receive the backups of the entire database of Copernicus Gold.

9.9. If you receive an e-mail message, an SMS message, a phone call or an appeal to you in any other form, from anyone claiming to be Copernicus Gold, its representative or another company of the group, or such containing a request for confidential information (phishing), you shall be obliged to not provide any information or data in response and immediately contact the Client Service of Copernicus Gold. You must not click on any links in unusual e-mail messages or download any attachments from such sources.

9.10. Copernicus Gold never requests you to provide your password in an e-mail message or on the phone. In event of reception of such messages and appeals, you must immediately contact us and inform us of such facts.

10. Fraud prevention

10.1. If we suspect that fraudulent activity is being conducted on your User Account, you acknowledge that for the purpose of protecting you we have the right to temporarily suspend your User Account in order to prevent further or continuing the unauthorized activity. In such a case you may receive an e-mail notification from Copernicus Gold.

10.2. If you yourself suspect any fraud, you shall immediately notify the Client Service of Copernicus Gold, so that Copernicus Gold is able to conduct an investigation and attempt to solve the problem.

11. Disputes with Copernicus Gold

11.1. In event of the arising of disagreement between you and Copernicus Gold, our goal shall be to learn about your opinion and consider it, and, if we are unable to do so to your satisfaction, offer you neutral and low-cost means of a timely settlement of the disagreement. You may inform us of any disagreement between you and Copernicus Gold in relation to the Services of Copernicus Gold in accordance with the manners set by the Agreement.

11.2. In event of any disagreement, except for a prohibitory injunction or other means of court protection in equity, the claimant party has the right to choose to settle the dispute in the low-cost way of an arbitration proceeding without the parties’ attendance, with a mandatory decision. If the party chooses arbitration, it initiates such a proceeding held by an accepted alternative dispute resolution (ADR) arbitrator whose nomination is agreed on by the parties. The arbitrator and the parties to the dispute shall abide by the following rules: (a) the proceeding is carried out on the phone, online and/or solely on the correspondence basis, the certain manner shall be chosen by the party which initiated the proceeding, (b) the proceeding does not require any personal attendance of the parties or witnesses, unless otherwise agreed on by the parties, (c) any judgment made by the arbitrator may be enforced in any court having the relevant jurisdiction.

11.3. In case the parties have not reached a conclusion as a result of the arbitration proceeding, the court of the relevant jurisdiction shall be the State Court of Singapore, the applicable law is Singaporean law.

11.4. The parties agree that the fact of the arbitration proceeding or the civil legal proceeding, the content of the claim and the result thereof shall remain confidential, to the extent allowed by Singaporean law or other applicable law and statutory acts.

11.5. The parties agree that the User waives his right to join representative (group) claims.

12. Limitation of liability

12.1. Nothing in the present Agreement restricts or excludes the liability of Copernicus Gold in event of death, injury, fraud or intentional falsification of facts.

12.2. Subject to the above mentioned, we (including, for greater certainty, our parent and affiliated companies) and the officers, directors, agents, employees and suppliers of Copernicus Gold (including, for greater certainty, the abovementioned categories of entities in our parent and affiliated companies) shall in no event be liable for any loss of profit or special, incidental, indirect or secondary or punitive damages (including without limitation the losses resulting from loss of data or loss of business) incurred due to, or in connection with, our website, the Services or the present Agreement (if any, including negligence), if, and to the extent, permitted by law.

12.3 The liability of us (including, for greater certainty, our parent and affiliated companies) and our (or, respectively, their) officers, directors, agents, employees and suppliers to you or any other third party is restricted by the actual amount of the direct damage. On top of that, to the extent allowed by the applicable law, Copernicus Gold, including, for greater certainty, our parent and affiliated companies, and our (or, respectively, their) officers, directors, agents, employees and suppliers shall not be liable, and you agree to not hold the abovementioned categories of entities liable, for any losses or damages (including without limitation losses of funds, damages of reputation and financial damages incurred thereby, losses of profit or other non-material losses or any special, indirect of secondary damages), directly or indirectly conditioned by: (a) your use or inability to use the Website or the Services of Copernicus Gold, (b) delays or interruptions of the operation of the Website or the Services of Copernicus Gold, (c) viruses or other malware transmitted as a result of accessing the Website or the Services of Copernicus Gold or any other website or services accessed via the link on the Website or a Service of Copernicus Gold, (d) short-term failures, hardware or software errors or imprecisions of any sort, on the Website or in the Services of Copernicus Gold, or in the data or graphic images received from those, (e) content, actions or failure to act of third parties, (f) suspension, or another action taken in relation to your User Account, (g) any loss resulting from the risks characteristic of online trade, including latent defects of hardware and software, losses of data, delays, denials, errors, omissions and loss of the transmitted information or instructions, power interruptions, interruptions of the Internet availability, hackers’ attacks, DoS attacks, viruses or other damaging or destructive factors, (h) any levies, fees, taxes or losses resulting from a stealing or any other loss of funds after the transfer thereof from the bank account of Copernicus Gold according to your instruction, (i) any losses resulting from the fact of that the information transmitted on the Internet may not be entirely protected, and the Internet and the relevant online systems may not function continuously. We shall not be liable for any losses or damages you may suffer if a third party accesses your confidential information transmitted on the Internet, or you are temporarily unable to monitor your balance in Copernicus Gold System; (j) your need to change the methods, content or conduct, or your loss of the ability to operate the business as a result of a change to the present Agreement or the policy of Copernicus Gold. Copernicus Gold retains the right to change its policy and the present Agreement at any time, in accordance with the terms of the Present Agreement.

12.4. Copernicus Gold shall not be deemed to be breaching the present Agreement or otherwise liable for any losses or damages incurred or suffered as a result of a delay in fulfillment of or a failure to fulfill any obligations under the present Agreement (and, if important, the term of the fulfillment is respectively extended), in case, and to the extent, of the conditioning of such a delay of fulfillment or failure to fulfill by force majeure circumstances or your serious mistake or an intentional breach by you, including any refusal to keep your Password secret, and any refusal to abide by the conditions of the present Agreement or follow the relevant policy.

12.5. Copernicus Gold, our employees, and suppliers ensure the operation of the Services of Copernicus Gold “as is” without any warranties or conditions, obvious, implied or statutorily required. Copernicus Gold and our employees hereby expressly state their disclaiming of any implied warranties in relation to the right of ownership, commercial applicability, the applicability to the use for certain purposes and the absence of authors’ rights infringement.

12.6. Copernicus Gold does not have any control over the products and services, as well as the sellers thereof, which are paid for with help of the Services of Copernicus Gold, and Copernicus Gold may not guarantee that the buyer or the seller you deal with will actually carry out the transaction or has the power to carry it out. You bear the responsibility for the conduction of the appropriate complex verification of the contractors that you have decided to deal with, and you agree that Copernicus Gold does not bear any responsibility for any fraudulent or inappropriate activities of the parties which you pay to and receive payments from.

12.7. Copernicus Gold does not guarantee permanent, uninterrupted and secure access to any part of Copernicus Gold System, and the operation of our Website may be interrupted by multiple factors which we do not have control over. Copernicus Gold will make all the reasonable efforts to ensure the timely processing of requests for deposits of funds to or withdrawals of funds from bank accounts and credit cards, but Copernicus Gold does not assume any obligations or warranties in relation to the amount of time needed for the complete processing, because the Services of Copernicus Gold depend on multiple factors which we do not have control over, including, for example, delays in banking systems.

12.8. Neither party shall be deemed breaching the present Agreement or held liable for a delay of the fulfillment of failure to fulfill any of its obligations under the present Agreement if such a delay or failure occurred as a result of the events, circumstances or reasons which are beyond the reasonable control. In such circumstances, the affected party has the right to a commensurate extension of the term of the fulfillment of the obligation.

12.9. In event of a disturbance of the market balance, market volatility, a hacking of the systems (including the systems of third parties, which Copernicus Gold relies on) and market disruption, Copernicus Gold shall retain the right to correct the instruction, if the currency rate received from Copernicus Gold’s data source appears to be false. Copernicus Gold will inform you of the necessity of correcting the instruction because of the incorrect market data, and you will be able to cancel your instruction if you do not want to trade at the corrected market rate.

13. Miscellaneous

 

13.1. The present Agreement is governed by Singaporean law and must be interpreted in compliance therewith. Except when otherwise agreed on by the parties, you agree to irrevocably submit to the non-exclusive jurisdiction of the courts of Singapore for the purpose of the conduction of any legal actions, action examinations, and judicial proceedings, in connection with the present Agreement or your use of the Website or the Services of Copernicus Gold.

13.2. Our inaction in event of breach of the present Agreement by you or third parties does not mean our refusal of the right to act in event of subsequent or similar breaches.

13.3. You bear the responsibility for the timely updating of any information provided by you, including without limitation the information on your e-mail and mail addresses, phone number, and other information. You will bear all the adverse consequences related to your failure to fulfill the obligations to provide information on any changes.

13.4. You understand and agree that you do not have the right to hold several User Accounts, except when, in accordance with the System’s rules, it is permitted to simultaneously hold one Personal Account and one Business Account, but not more than one per each body corporate.

13.5. You agree to protect, compensate the losses to and hold Copernicus Gold, its officers, directors and employees harmless from the liability for any claims and lawsuits (including payment for an attorney’s services) made or filed by any other party for a reason, or as a result, of your breach of the present Agreement and/or your use of the Services of Copernicus Gold.

13.6. In case you enter in a dispute with one or several users, you hold Copernicus Gold (and our officers, directors, agents and employees) free from the liability for any claims, lawsuits, and losses (actual and indirect) of any sort and nature, resulting from, or connected with, such disputes.

13.7. In the event your funds are seized in accordance with Singaporean law or are subject to levying, we shall be obliged to follow the relevant instruction. You will not have any claims about our compliance with such requirements obligatory to us by authority of law.

13.8. In the event of a User’s death or loss of capacity to contract, we will request instructions in relation to the User Account from their executor of will or trustee after we are provided with a convincing proof of the power of such an executor of will or trustee/property administrator, and the documents which we require.

13.9. You are responsible for the payment of all the local taxes, fees and levies which are imposed, or may be imposed, on sending and reception of funds, and any relevant commissions.

13.10. Copernicus Gold does not bear the responsibility for any fees, commissions or exchange rates in terms of international transactions, which may be imposed by credit card issuers, financial institutions or banks.

13.11. You agree to abide by all the relevant laws of any state which you are a citizen, resident or subject of, and any region which you are a resident of at the given moment of time, and any other region from which you access the Website of Copernicus Gold, including without limitation the laws of the Republic of Singapore.

13.12. You shall be obliged to pay all the amounts payable under the present Agreement in full amount, without any deductions or withholdings, except for those statutorily required, and you do not have the right to require any offset or lay down a counter-requirement on Copernicus Gold in justification of the failure to pay, or for the purpose of contestation of payment of any such amount, entirely or partly.

13.13. Copernicus Gold may, without any damage to its other rights or legal remedies offset any amount which you are obliged to pay thereto (or to any of its affiliated companies) against any amount which Copernicus Gold is obliged to pay to you.

13.14. Your right to the personal privacy is important for Copernicus Gold Singapore Pte. Ltd. Read our Privacy Policy to receive more detailed information. If using the Services of Copernicus Gold, you have received information on a third party, you must keep that information confidential/secret and use it only in connection with the use of the Services of Copernicus Gold. You do not have the right to disclose or distribute the information on a third party or use it for marketing purposes if you have not been granted a consent to such your actions.

13.15. Copernicus Gold Singapore Pte. Ltd. may at any moment assign, transfer, charge, subcontract or otherwise transfer the ownership of all, or a part, of its rights under the present Agreement, and may subcontract or delegate, in any manner, all, or any, of its obligations under the present Agreement to any third party or agent. You do not have the right to assign, transfer, charge, subcontract or otherwise transfer ownership of all or any of your rights or obligations under the present Agreement without written consent of Copernicus Gold Singapore Pte. Ltd.

13.16. Unless otherwise allowed by the rules and the procedures of the System, you do not have the right to provide any third party with the right to use your User Account or the Services on your behalf, or the right to access any information on your Account. You also understand that you are solely responsible for any your actions performed in breach of this prohibition, as well as for any actions performed by the third parties that you provided with the ability to use your Account or the Services. On top of that, you understand and agree that you hold Copernicus Gold free from any responsibility and relieve us from any obligations which may arise as a result of actions or inactivity of that third party in connection with the permission which you have granted. We have the full right to block your account or cease our relationship in even of your breach of the prohibition imposed by this item of the Agreement.

13.17. The present Agreement, along with any applicable policies and agreements on the “Legal Agreements” or “Terms of Service” or “Privacy” pages of the Website of Copernicus Gold, does reflect the full range of arrangements between you and Copernicus Gold in relation to the Services.

13.18. If any provision (or part of any provision) of the present Agreement shall, for any reason, be held by a court or any other competent authority to be invalid, illegal, or unenforceable, that provision, to the extent required, shall be deemed deleted and the remaining provisions shall remain effective and enforceable.

13.19. An entity not being a party to the present Agreement does not have any rights under the present Agreement or in connection therewith.

13.20. Except as otherwise expressly provided for in the present Agreement, nothing in the present Agreement is intended to or shall be deemed to, constitute a partnership or joint venture of any kind between any of the parties, nor constitute any party the agent of another party for any purpose. No party shall have authority to act as agent for, or to bind, the other party in any way.

13.21. Although Copernicus Gold may be accessed from all around the world, not all the functions, products and Services which are described, mentioned, provided or offered on the Website of Copernicus Gold, or with help thereof, are available to all the entities at all locations, or suit, or are available for use outside of Singapore. Copernicus Gold retains the right to, in its sole discretion, restrict the access to, and the amount of, any function, product or service to any entity or location. Any offer of any function, product or service published on the Website of Copernicus Gold is canceled at a location where it is prohibited. If you want to access the Website of Copernicus Gold outside of Singapore, you do it at your own initiative and bear the sole responsibility for abiding by the applicable local laws.

13.22. The parties of the present Agreement agree that the present Agreement and any accompanying documents shall be written in the English language.

13.23. Notwithstanding any other provisions of the present Agreement, any translation of the present Agreement is provided solely for your convenience. The meanings of the terms, the conditions and the claims in the text of the present Agreement correspond to the definitions and the interpretation thereof in the English language. Any provided translation may inaccurately interpret the original information in the English language.