TERMS & CONDITIONS

These terms and conditions (hereinafter the “Terms”) describe information applicable to the use of the refinancetrades.com website and its services, which is owned and operated by Refinance Trades Inc. By using the Website or its related services, trading and mining cryptocurrencies, you expressly agree to be bound by all of the terms and conditions set forth. In accepting this agreement, you acknowledge that you have read this agreement, understand it, and had an opportunity to seek independent legal advice prior to agreeing to it.

You also warrant that you are at least 18 years old and have full capacity to contract under applicable law; only transacting on refinancetrades.com with legally-obtained funds that belong to you; not furthering, performing, undertaking, engaging in, aiding, or abetting any unlawful activity through your relationship with us or through your use of Refinance Trades; and, comporting with and obeying all applicable laws. At any point, if you do not agree to any portion of the current Terms, you should not proceed to use the website or participate in any of our programs. Refinance Trades has the right to review and amend the current agreement at any time without notice.

To invest in Refinance Trades, you’ll need to submit two sets of information:

  1. Personal information (email, mobile number, cryptobase) and
  2. Identity details to pass

Once this information is processed successfully, we’ll notify you and automatically register and activate your investment account.
The list of risks specified in these Terms is not comprehensive, as well as it may not contain those risks which cannot be predicted at the present moment. If you are not sure that you can estimate the probability of occurrence of such risks by yourself, you can apply for a trader and an adviser and one will be provided for you.

By setting up an account with Refinance Trades, the client confirms that he/she:

  • Is legally permitted to purchase digital assets as stated by the Purchaser’s jurisdiction;
  • Is of a sufficient age to legally make investments or has received permission from a legal guardian who has reviewed and agreed to these Terms and conditions;
  • Will take sole responsibility for any restrictions and risks associated with the purchase of digital assets as set in the Terms.

ACCREDITATION


If you are a US citizen, you must pass additional accreditation as “Accredited Investor”. We require proof of accreditation from you that meets the more stringent standard the CSRC has put in place – the 506(c) standard – which should work for all accredited deals, including ones that publicly discuss their financing.

An accredited investor, in the context of a natural person, includes anyone who:

  1. earned income that exceeded $200,000 (or $300,000 together with a spouse) in each of the prior two years, and reasonably expects the same for the current year, OR
  2. has a net worth over $1 million, either alone or together with a spouse (excluding the value of the person’s primary residence).

In addition, entities such as banks, partnerships, corporations, nonprofits and trusts may be accredited investors. Of the entities that would be considered accredited investors and depending on your circumstances, the following may be relevant to you:

  • any trust, with total assets in excess of $5 million, formed to specifically purchase the subject securities, whose purchase is directed by a sophisticated person, or
  • any entity in which all of the equity owners are accredited investors.

You need to provide reliable information about yourself in the registration process. Providing false information will be prosecuted by law.

KYC/AML

Money laundering (“ML”) is a process intended to mask the benefits derived from criminal conduct so that they appear to have originated from a legitimate source. Europe's primary legislation to combat ML is the EU Anti-Money Laundering Directive.

Acts of terrorism seek to influence or compel governments into a particular course of action or to intimidate the public or a section of the public. Trust companies are reminded of the definitions of terrorism set out in the Terrorism (Suppression of Financing) Act (Cap. 325) (“TSOFA”) and the United Nations (Anti-terrorism Measures) Regulations (Rg. 1).

Terrorists require funds to carry out acts of terrorism, and terrorism financing (“TF”) is the act of providing these funds. Such funds may be derived from criminal activities such as robbery, drug-trafficking, kidnapping, extortion, fraud, or hacking of online accounts. In such cases, there may be an element of ML involved to disguise the source of funds. However, terrorist acts and organisations may also be financed from legitimate sources such as donations from charities, legitimate business operations, self-funding by individuals etc. Coupled with the fact that TF need not always involve large sums of money, TF can be hard to detect and trust companies should remain vigilant.

Refinance Trades defends against involvement in illicit activities, such as money laundering, by doing the following:

  • Verifying the identity of customers and end users for all registered investors of Refinance Trades
  • Promulgating and adhering to well established anti-money laundering procedures and corporate policies
  • Routinely executing a company-wide assessment to determine the risk of inadvertent involvement in money laundering or other illicit activities. A risk profile is produced after these assessments.

An anti-money laundering policy shall be reviewed and approved by Refinance Trades Board. Once approved, the Policy shall be furnished to all our employees and regular training on compliance shall be provided at intervals not to exceed one year. Employees of Refinance Trades shall confirm receipt and understanding of the Policy in writing.

As part of its account generation and creation process, Refinance Trades shall:

  • - obligate users to furnish proof of identity;
  • - prohibit any payments to be made without complete account-opening data; confirm that users are not listed in compliance databases. These databases include, but are not limited to, the OFAC Specially Designated Nationals list and other governmental watch lists.

Proving Identification:

Individuals

  • Name
  • Mailing address and address of residence (PO boxes are not acceptable unless accompanied by valid mailing address)
  • Government issued identification numbers including where relevant, but not limited to, social security numbers, driver’s license numbers, and passport numbers
  • Place of birth and date of birth
  • Copies of valid photo identifications for those listed as account holders

Corporate Users

  • Name of business and corporate representatives
  • Copies of current photo identifications of corporate representatives using the account
  • Mailing address of the client’s principal place of business (we reserves the right to request the customer’s local address if the local address is not the same as the business’ principal place of business)
  • Customer identification procedures shall be adhered to determine the beneficial owners of trust or corporate accounts. These procedures include establishing whether a customer is an agent of another; deriving information concerning the ownership or structure of a company that is a legal entity not publicly traded in the US or other countries; and for trustees, getting data about the trust structure, determining the provider of funds, and discerning who has control over the funds and power to remove the trustee.

END USER VERIFICATION


The validity of documents used to support the opening of an account is to be confirmed before the account can be finalized. Verification requires layered security, multi-factor authentication, and the satisfaction of other obligations to ensure that user identity has been meaningfully confirmed. Account size and other factors are considered during this process.

These methods are examples of verification processes that Refinance Trades reserve the right to employ:

  • Employing challenge questions to test user knowledge.
  • Ensuring that no inconsistencies exist between customer provided identifying information.
  • Use of industry standard device identification procedures, such as geo-location checks and “digital fingerprints”.
  • Validating identifying information against information provided by trusted third party sources. Trusted third party sources include reporting agencies.
  • Validating claimed addresses with copies of bank statements, utility bills, and credit card statements.
  • Closing suspicious accounts when clients are unable to furnish sufficient information to confirm identity.
  • Requesting notarized copies of birth certificates or businesses’ sealed incorporation documents with an apostils for identification.

Refinance Trades will conduct an annual anti-money laundering audit. The audit shall be conducted by an independent party with a working knowledge of BSA (or other government agency) requirements. If such a party is not available, the audit may be conducted by Refinance Trades employees who have a working knowledge of BSA requirements. Corrective actions shall be derived from these audits and Refinance Trades will provide the audit report along with intended corrective actions to our management for review. Status reports concerning corrective actions will be routinely furnished to the management of Refinance Trades until all outstanding matters are resolved.

TAXATION


The Users bears the sole responsibility to determine if the contribution to and receipt from the Smart Contract System, including but not limited to the acquisition of digital assets, change of the asset's value with the course of time and the receive function of the Smart Contract System shall be a taxable event for the User. The Users bear full responsibility for timely and correct calculation and payment of all taxes due in accordance with the legislation applicable to the Users. The Service is not a tax agent of the User, as well as it does not advise the User on the order of calculation and/or the payment of taxes.

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LIABILITY


The Purchaser acknowledges and agrees that the Purchaser will not hold any developers, auditors, contractors or founders of the Service, the Blockchain System liable for any and all damages or injury whatsoever caused by or related to the use of, or the inability to use, Tokens, Services or Blockchain system under any cause or action whatsoever of any kind in any jurisdiction, including, without limitation, actions for breach of warranty, breach of contract or tort (including negligence) and that developers, auditors, contractors or founders of the Blockchain System and/or the Services shall not be liable for any indirect, incidental, special, exemplary or consequential damages, including for loss of profits, goodwill or data, in any way whatsoever arising out of the use of, or the inability to use of the Blockchain System and/or Services.

The Purchaser further specifically acknowledges that developers, auditors, contractors or founders of the Tokens, Smart Contract System and/or the Services are not liable, and the User agrees not to seek to hold them liable, for the conduct of third parties, including other creators of Token, and that the risk of buying, holding and using Token rests entirely with the User.
Refinance Trades does not guarantee the permanent and uninterruptible operation of the Site and does not take any responsibility for direct, indirect, accidental, special, circumstantial or punitive damages, including but not limited to the losses in the form of lost profit for the mistakes and/or technical issues in operation of the Site, or restriction of the access to the Site on the territory of any jurisdiction.

MISCELLANEOUS


The User agrees that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.

The applicable law is EU law. Any dispute arising out of or in connection with the creation of the investment accounts and the development of Services shall be finally settled by the ordinary courts of the registered domicile of the defendant.

RISKS

First of all The Purchasers understand that buying digital assets may result in financial losses!

Information contained in the Terms of Service, or in any statements or information contained on the Site at any moment, or in any means of communication of the Service (including but not limited to the publications in social media, as well as the statements or declarations made by inter alia the representatives of the Service, notwithstanding whether they had been made personally or on behalf of the Service), notwithstanding the time of their occurrence, shall be construed as the guarantee of gaining profit or benefit in any other form.

Trading digital assets can be risky. The investors and managers incur the following risks: inherent risk, loss risk, theft risk, compliance risk, risk of misconception. Once the investor sends his cryptocurrency to one of the fund’s wallets, he confirms that he understands and accepts the risks and the efforts of the fund to prevent irreversible losses. The fund’s managers not only risk losing their own personal investments but stand to lose their license in cases where there’s found to be a mismanagement of clients’ assets.

The risks highlighted below are worth considering but they are not exhaustive.

  • Risks relating to insufficient secondary market liquidity:
    Even if digital assets are tradable in a secondary market, in practice, there may not be enough active buyers and sellers or the bid-ask spreads may be too wide. Consumers may not be able to exit their crypto investments immediately.
  • Risk related to cryptocurrency values:
    The Purchaser understands that there may be serious risks connected with cryptocurrency, such as heavy fluctuations of virtual or actual currency values, which in turn may lead to loss of currency over short or long periods.
  • Risks of money laundering and terrorist financing:
    Funds invested into investment schemes involving digital assets are prone to being misused for illegal activities due to the anonymity of transactions, and the ease with which large sums of monies may be raised in a short period of time. Consumers would be adversely affected if law enforcement agencies investigate any alleged illicit activities related to the asset investment scheme.
  • There is a risk of the fund’s assets theft by fraudsters or hackers but the fund has an insurance plan that serves as compensation in the case of theft of fund’s assets.
  • There is a risk of appearance of regulatory or legal restrictions, which can complicate the fund’s work or stop it altogether. Refinance Trades services may be affected by newly implemented regulations;
    Cryptocurrency trading is generally still unregulated worldwide, but numerous regulatory authorities across jurisdictions have been outspoken about considering the implementation of regulatory regimes which govern cryptocurrency or cryptocurrency markets. Refinancetrades may be affected by newly implemented regulations relating to cryptocurrencies or cryptocurrency markets, including having to take measures to comply with such regulations, or having to deal with queries, notices, requests or enforcement actions by regulatory authorities, which may come at a substantial cost.

    Further, it is difficult to predict how or whether governments or regulatory authorities may implement any changes to laws and regulations affecting distributed ledger technology and its applications, including the Refinancetrades fund and its services. Refinancetrades may also have to cease operations in a jurisdiction that makes it illegal to operate in such jurisdiction, or make it commercially unviable or undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
  • There is a risk of cryptocurrency, fiat currency or investment devaluation.
  • There is a corporate risk of losing control over shares of the portfolio startup.

Hence, User therefore understands and accepts that the transfer of cryptocurrency to the Refinancetrades fund may result in a total profit or loss.