Terms and Condition
THE TERMS AND CONDITIONS OF SERVICE PROVISION BY ELECTRONIC MEANS
§ 1. INTRODUCTION
The Terms and Conditions is provided by ECOWAY TECHNOLOGIES L.L.C and associates (jointly referred to hereinafter as “ECOWAY”, “we” or “us”) and covers usage of the Website www.ico.ecoway.org (referred to hereinafter as “the Website” or “ico.ecoway.org”) and our other websites, platforms, applications, products and services. Herein, we shall refer to you as “You” or “the User”.
ico.ecoway.org is a website, which allows to check the requirements to purchase tokens produced in the BEP20 standard in the Binance Smart Chain (BSC) environment (referred to hereinafter as “the ECY Token" or “the Token") on the Terms and Conditions determined hereby, by the Website, the Whitepaper and other documents visible and accessible via the Website and to purchase these Tokens by the User. In order to purchase Tokens, the User is obliged to create a User account (hereinafter referred to as "the Account") and provide identification data specified by ECOWAY, such as email address, password, name.
1.3 ECY Tokens Purchase
The User acknowledges and accepts that ECOWAY menages ico.ecoway.org and You, by purchasing the Tokens as a part of the blockchain network (BSC), establish a relationship on a basis of other terms and conditions or terms and conditions of service provision, including especially, but not only, information and documents available on website www.binance.org. Thus, the User acknowledges and accepts that purchasing the ECY Tokens does not refer to any a transaction or conclusion of any agreement directly with ECOWAY. Conclusion of an agreement on service provision by electronic means between ECOWAY and the User takes place as a result of registering the Account for a particular User, pursuant hereto.
In any way, the activity of ECOWAY does not refer to investments as investment funds. Based on information posted on the Website, the term “investment” or “investments” shall be defined only as the purchase of the Tokens or pursuing such buy. The activity of ECOWAY shall not be perceived as investment advising or investment recommendations, or intermediation in such advice or recommendation, or managing of any assets relating to the Tokens.
§ 2. DEFINITIONS
2.1 ECOWAY – ECOWAY TECHNOLOGIES L.L.C, License No.: 1013482 having its registered office on Al Mararr, Plot 625-0, Humaid Sultan Building, Dubai, United Arab Emirates;
2.2 User - a natural person, a legal person, an organizational unit without legal personality to whom the law assigns legal capacity, who manages business or acts professionally, or has appropriate competences on the basis of national law applicable in the place of temporary or permanent residence, who familiarize him/herself with the information posted via the Website;
2.3 Website - an Internet website under the domain ico.ecoway.org;
2.4 Account - collections and competences assigned to the User within the scope of the Website, resulting concluding the agreement on service provision by electronic means between the User and ECOWAY, includes data necessary for authorisation and for using some services accessible via the Website;
2.5 ECY Token - a term referring to the value of assets in BEP20 standard as a part of the blockchain network (Binance Smart Chain), enabling the owner to act pursuant to information presented on the Website and in the Whitepaper;
2.6 Whitepaper - a document specifying terms and conditions of Tokens functioning and also a possibility to join the Token Distribution Process for the User. The document is available at ico.ecoway.org;
2.7 Token Distribution Process - refers to the issuing process of the Tokens using blockchain technology, to purchase these Tokens in conjunction with the User Account;
2.8 KYC/AML - a set of activities as a result of which information on a particular User is obtained. These activities are performed in order to determine the scope of financial security measures appropriate for a given business relationship or transaction and to assess the risk related to counteracting money laundering and terrorist financing, taking into account specific types of risk;
2.9 Information and Communication Technologies (ICT) System - a system of cooperating ICT devices and software which provides processing and storing, as well as sending and receiving data via ICT networks using an appropriate type of an ICT end device.
§ 3. GENERAL PROVISIONS
Natural persons, legal persons and other organizational units to whom law assigns legal capacity may enter the Token Distribution Process. The age of majority is determined by law of the country in which the User lives, and the minimal age is 18 years old. Using the Website is free of charge.
3.2 Terms and Conditions
By joining the Token Distribution Process, the User confirms that he/she has read the Terms and Conditions, the Whitepaper, and in particular the mechanisms of software functioning and applications based on the blockchain technology, and the risk of losing all invested funds. The Terms and Conditions constitute a binding agreement between the User and ECOWAY and apply to all Users who access or use the Website (also by simply browsing the content posted via the Website).
3.3 User Account
The Account may be created by the User. Account registration is free and voluntary (optional), but necessary to but necessary to join the Token Distribution Process. In order to create the Account, the User is obliged to provide the required information contained in the registration form on the Website, including in particular the login and password, in accordance with the information available in the Account registration form. The registration of the Account takes place only via the Internet (online).
3.4 Representations on the Token Distribution Process
The User represents that as a part of the Token Distribution Process, the User acts on his/her own and on his/her own behalf, and in particular does not act for the benefit of a person or entity being a citizen or a resident of countries where law restricts or prohibits participation in processes collectively and commonly referred to as Initial Coin Offering or classifies the Token Distribution Process only as issuing of financial instruments or derivative financial instruments within the meaning of relevant national acts. Also, the User represents that the financial means used to join the Token Distribution Process have legal sources. The User acknowledges and accepts that the ECY Token is not:
1) a document issued by name, on request or issued to the bearer, as well as a financial instrument and a participation unit nor an investment certificate within the meaning of the relevant national law at the place of the headquarters of ECOWAY;
2) a packaged retail investment product within the meaning of Article 4 of the Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) and is not under any provisions of law provided by the state.
3.5 Representations on Activities of ECOWAY
The User represents that he/she fully accepts the provisions hereof, without any doubts nor additions, as well as the User acknowledges and accepts that:
1) the Token Distribution Process is not a public offer, alternative investment fund management activity nor activity performed by an investment fund, and that the activities of ECOWAY are not a banking activity, or an insurance or reinsurance activity within the meaning of the relevant national acts;
2) ECOWAY shall not guarantee that the Token Distribution Process, as well as the acquisition of Tokens itself, will bring the User expected outcomes, results or economic or financial benefits. At the same time, the User represents that ECOWAY have not guarantee him/her such results.
3) by purchasing Tokens or by joining the Token Distribution Process, the User does not join in any way ECOWAY, does not form a company with ECOWAY, and does not acquire corporate rights in ECOWAY’ company and does not enter into a similar legal relationship with ECOWAY, including e.g., a joint venture.
Furthermore, the User acknowledges and accepts that ECOWAY does not offer any services related to securities, and that ECOWAY is not an entity transferring any money to Users or other persons or third parties. ECOWAY does not provide investment, financial, tax or legal advice. Any information and applications posted on the Website do not constitute investment advice, financial advice, commercial advice or any other type of advice.
3.6 KYC/AML Verification
ECOWAY or entities cooperating with it as part of activities performed by the User on the Website or in connection with the acquisition of Tokens or entering the Process may verify the User to the extent specified in the relevant international acts on counteracting money laundering and terrorist financing (AML), as well as internally binding AML procedure for identification and verification of the User, applied by ECOWAY. Pursuant to the legal requirements, the entity performing such verification may perform it again in the event of statutory premises, also in accordance with the internal security procedure.
§ 4. ECY TOKEN
4.1 General Information
The User, via the Website, in particular via the Binance Smart Chain (BSC) blockchain, obtains the possibility of purchasing Tokens as a digital representation of the value generated in the blockchain network. Details on the method of purchasing the Tokens and their value expressed in the price - each time determined by the information available on the Website. The purchase of Tokens entitles Users to obtain benefits specified in particular in the Whitepaper, subject to the provisions hereof.
4.2 ECY Token
The Token is a form of value that has been generated in the Binance Smart Chain blockchain network in the BEP20 standard. The collection of the Tokens by the User takes place immediately via the blockchain network, after the correct payment by the User pursuant to 4(1) herein and after the correct indication by the User of the wallet address, compliant with the ERC20/BEP20 standard to which Tokens are to be transferred. All information about the Tokens is posted on the Website in a place visible to the User or via the websites of third parties to which the Website redirects.
Furthermore, due to the close connection of the Tokens with financial markets over which ECOWAY has no control, the User acknowledges and accepts that the rights to withdraw from the agreement within the meaning of withdrawing from the purchase of Tokens shall be excluded. The User acknowledges and accepts that all transactions related to the purchase of Tokens are final and it is not possible to return the acquired (purchased) Tokens.
4.3 Respecting the Rules
Each User obliges to use the Website in accordance with its purpose, applicable law, social and moral norms and the provisions hereof. The User is obliged to protect own passwords and personal access keys to the Tokens against third parties’ access.
4.4 Unauthorized Access
ECOWAY does not in any way process or store access data enabling the management of the Tokens, including Users' private keys. The User is obliged to protect data used to access the ECY Tokens, including data necessary to access the third party’s application eg. Metamask (www.metamask.io) on which ECY Tokens are held, because in the event of their loss ECOWAY shall not recover the data. In the event of loss of access data, including in particular private keys, the User may lose all acquired Tokens, assigned to a given wallet address, for which ECOWAY shall not be liable.
Any results of unauthorized acquisition of the password, keys or other data enabling the access to the Tokens belonging to the User are not the liability of ECOWAY.
4.5 ECY Tokens Taxation
The User is obliged to determine how and according to which legal acts the taxation shall be carried out in connection with the purchase of the Tokens and to pay the tax to the competent tax authorities for a particular User. ECOWAY is not liable in any way for incorrect tax settlement of the User due to the purchase of the Tokens.
4.6 Knowledge of the Blockchain Technology
The User represents that he/she is familiar herewith, Whitepaper as well as the Token Distribution Process and its mechanism, also the User has obtained all necessary information and data that he/she considers sufficient to decide on purchasing the Tokens, and that he/she has extensive knowledge in the field of functioning, use or usability of software and applications based on the blockchain technology. All transactions for the purchase of the Tokens are executed automatically, based on the User's decisions and his/her orders. The User is solely responsible for determining whether the decision to purchase the Tokens is proper. If the User has doubts about the functioning of the blockchain technology, cryptocurrencies or the rules for purchasing the Tokens, he/she should contact legal, tax or investment adviser before taking any action on the Website.
§ 5. PAYMENT FOR THE ECY TOKEN
5.1 Value of the Accounting Unit
The User declares that the accounting unit for the acquisition of the Tokens, in connection with the entering the Token Distribution Process, are cryptocurrencies (stablecoins), each time specified by the Website, third parties or websites of these third parties, which enable the purchase Tokens in the Binance Smart Chain blockchain network via ICT network.
5.2 Fee and Transaction Time
The fees are determined each time by the Service, third parties or websites of these third parties, enabling the purchase of the Tokens. By purchasing the Tokens, the User undertakes to pay the current fees:
1) for the Token - the amount of which depends on the moment when the User purchases the Token and the number of Tokens purchased by the User, in accordance with the information provided on the Website;
2) any other necessary fees for the delivery of the Tokens to the User including in particular, but not only, blockchain network fees.
The delivery of the Tokens to the User takes place immediately, provided that the User makes the correct payment pursuant to hereinabove, with the possibility of extending this period up to 48h. ECOWAY indicates that the process of delivering the Tokens in exceptional cases may be extended to a maximum of 7 days in the event of situations beyond the control of ECOWAY (force majeure), such as e.g., failure of the Binance Smart Chain or Ethereum blockchain network.
§6. RESTRICTIVE MEASURES AND COMPLAINTS
6.1 Reporting Violations
The User or third parties may refer to ECOWAY regarding possible violations of the provisions hereof, the Whitepaper or violations of the use of the ico.ecoway.org Website in the provision of electronic services. All reports to ECOWAY should be sent to the e-mail address: email@example.com.
6.2 Violations Results
Any violation of provisions hereof may result in, appropriately to the scale of damage:
2) a temporary suspension of the Account, i.e., prevent accessing the User Account;
3) deletion of the Account, which is understood as termination of the agreement on service provision by electronic means;
The Parties agree that the deletion of the Account, under any legal or factual cause, shall not give rise to any claims on the part of the User, including claims for the payment of any compensation.
6.3 Submit a report
The Users and third parties in pursuant to 6(1), may submit complaints to ECOWAY regarding the functioning of the Website regarding service provision by electronic means, as well as appeals against the decisions of ECOWAY. The report must include:
1) indication of a reporting person or entity which enables to identify the Account;
2) detailed description of a report.
ECOWAY replies to the report of the User or a third party by electronic means, generally within 30 (say: thirty) working days from the date of receipt of the report. A response to the report shall be sent to the e-mail address provided by the User or a third party in the e-mail message. ECOWAY reserves the right to extend the above term by a maximum of 30 (say: thirty) working days if the identification of the report requires special information or encounters obstacles independent of ECOWAY. Furthermore, ECOWAY reserves that the examination of the report may require additional explanations from the User or a third party - in such a situation the duration of a response from ECOWAY shall be extended accordingly each time.
6.4 Consent to Contact in the Electronic Form
§ 7. ADDITIONAL CLAUSES
7.1 Technical Requirements
To use the Website, the User shall meet the following technical requirements:
1) having a device enabling the use of the Internet;
2) the Internet connection;
3) having a browser that allows to display websites, e.g., Google Chrome.
ECOWAY represents that it makes every effort to ensure constant access to the Website, however, it does not guarantee that the use of the Website is free of errors and technical breaks. In addition, ECOWAY reserves the right to change the above minimum requirements for using the Website at any time without prior notice to the User.
7.2 Cryptographic Techniques
ECOWAY shall ensure the operation of the ICT system in a form of the Website, in such a way as to prevent unauthorized access to the content, in particular using cryptographic techniques.
7.3 Technical Risk
ECOWAY stipulates that the use of the Website may involve a technical risk, typical for the use of the ICT system, and an increased risk in the field of the blockchain technology, characteristic for software based on the Binance Smart Chain or Ethereum blockchain network. The Users shall secure electronic connections and devices against unauthorized access, including, but not limited to, installing anti-virus software and securing the wallet, e.g., Metamask, in accordance with the recommendations specified at www.metamask.io.
7.4 Technical Breaks
ECOWAY reserves the right to temporarily or permanently terminate or limit activity of the Website. In particular, ECOWAY is entitled to conduct maintenance work of the Website to restore security and stability of the ICT system. Accordingly, the User acknowledges and accepts that he/she has no claims regarding such interruptions or restrictions of access to the Website.
7.5 Other Websites of Third Parties
ECOWAY exercises due diligence to specify unambiguously and identify pages and websites managed by third parties that offer separate services or a service, not related to the activities of ECOWAY, pursuant hereto. However, ECOWAY is not liable for the content, subject and the relationship established with another entity by the User. In such a situation, the User should each time exercise due diligence to determine with which entity the possible relationship is being established and to which website of the third party the User has been redirected using the Website.
§ 8. FINAL PROVISIONS
8.1 Terms and Conditions Enters into Force
The Terms and Conditions shall enter into force on December 22, 2021. ECOWAY has the right to amend hereto at any time. In such a situation, ECOWAY shall inform about changes hereto in a visible place on the Website, including in particular by posting a new version hereof on the Website.
8.2 Additions and Information Included Herein
No legal basis or incompleteness of any of the provisions contained herein does not mean that the entire Terms and Conditions is legally void. Such provisions shall be amended to the ones that best reflect their meaning and purpose.
8.3 Transformation or Transfer of Rights
The User acknowledges and accepts that the ECOWAY may transfer the rights and obligations resulting from the implementation of the provisions hereof to another entity, person or third parties, including transferring the rights and obligations to another, newly established company as a result of the transformation.
All parties to the disputes that may arise in connection herewith shall be settled amicably in the first place, by mutual arrangements between the User and ECOWAY. The User acknowledges and accepts that the amicable resolution of a dispute procedure is a condition precedent that shall be met prior to commencing any legal proceedings. In such a situation, the User is obliged to contact ECOWAY pursuant to provisions 6 hereof.
If the above provisions are met, as well as in the absence of an amicable solution to the dispute, the provisions hereof shall be settled by the court competent for the current place of a registered office of ECOWAY. At the same time, the User acknowledges and accepts that disputes arising herefrom may only be considered on the basis of an individual case of the User. In no way is ECOWAY obliged to settle disputes as collective cases or collective actions.