Chapter 1. General Provisions
Article 1 (Purpose)
The purpose of these Terms and Conditions is to set forth the rights, obligations, responsibilities and other necessary matters between the Company and the Member in using the services provided by [CoinUS Wallet] application (the “App”) and website (the “Website”) which are operated by QUAD CRESCO PTE. LTD. (the “Company”).
Article 2 (Definition)
(1) The term “App” means an application program (application) that the Company sets up for the transaction of Goods, etc., using telecommunication facilities such as mobile phone and others to provide goods and services (the “Goods, etc.”) to the member.
(2) The term “Website” means a homepage (http://www.coinus.io) that the Company sets up to trade Goods, etc., using telecommunication facilities such as PC and others to provide goods and services (the “Goods, etc.”) to the member.
(3) The term “App, etc.” means collectively the “App” and the “Website”.
(4) The term “Member” means a customer who accesses the Service, enters into the agreement for use with the Company in accordance with these Terms and Conditions, and uses the Services rendered by the Company.
(5) The term “Wallet” means a mobile wallet which can hold cryptocurrency.
(6) The term “Transfer of Cryptocurrency” means a transaction which transfers cryptocurrency held in the Wallet of the Member to the internal and external Wallet.
(7) The term “Keeper” means a hardware that is used to order the transfer of cryptocurrency, identify the Member or secure authenticity of the transfer.
Article 3 (Clarification, Explanation and Revision of Terms and Conditions)
(1) The Company may publish these Terms and Conditions on the App, etc. so that the Member can easily read it or allow the Member to read it through the hyperlinked site.
(2) The Company may revise these Terms and Conditions to the extent of not violating the applicable laws and regulations.
(3) In the case of revision, the Company shall post notice on the revision on the App etc. from 7 days before the enforcement date to the date of enforcement stating the date of enforcement and the reasons. However, in the case of revision unfavorable to the Member, the Company shall notify it with the grace period of at least 30 days or more. In this case, the Company shall indicate the revised parts by comparing it with the existing version so that the Member can easily understand it.
(4) Upon notifying the Member of the revision as set forth in the previous Paragraph, even if the Company clearly notifies the Member of the fact that if the Member does not express his/her intention within the 30 days period, then the Member shall be deemed to agree with the revision, if the Member fails to clearly express his/her rejection, the Member shall be deemed to consent to the revision.
(5) If the Member does not agree to the revision, then the revised Terms and Conditions may not be applied to the Member, and in this case, the Member may terminate the agreement for use.
Chapter 2. Agreement for Use
Article 4 (Subscription for Use and Approval)
(1) The user shall subscribe for the App, etc. by filling in the personal information in the form designated by the Company, and indicating his/her agreement to these Terms and Conditions.
(2) The Company shall register the subscribers who have applied for the membership as set forth in Paragraph (1) as a Member, unless he/she falls under the following items.
1. Where the subscriber has previously lost his/her membership pursuant to Article 25 (1) or (2) of these Terms and Conditions;
2. Where there is false information, omitted or incorrect information;
3. Where the subscriber is under the age 19;
4. Where there is a significant impediment to the technology of the App, etc., or where it is deemed to be difficult to accept the Member due to the certain situation of the Company;
(3) The membership shall be established when the approval of the Company is delivered to the member.
Article 5 (Personal Information Protection and Change of Member Information)
(2) The Member may review and edit his/her personal information at any time by logging into the Website. However, it is not possible to edit real name, date of birth, gender, and copy of identification card required for the management of service.
(3) If any of the items provided at the time of subscription for membership changes, the Member concerned shall correct it online or notify the Company of the change by e-mail or other means within a considerable period.
(4) The Company shall not be responsible for any disadvantages caused by not informing the Company of the changes set forth in Paragraph (3).
Chapter 3. Provision of Service
Article 6 (Provision of Service and Modification)
(1) The services rendered by the Company include the following services:
1. Market information search service;
2. Sale and delivery of the Goods;
3. Inspection on Wallet and transfer of cryptocurrency;
4. Participation in Token Launcher; and
5. Other services offered by the Company.
(2) The Company shall make a post about the characteristics, procedures and methods of each service on the service web page according to the type of service, and the Member shall understand the matters concerning each announced by the Company before using the service.
(3) If the contents of the service are changed, the Company shall announce at least 7 days before the change, and the Company shall not be responsible for any damage caused by the Member’s failure in inspecting the notice.
Article 7 (Interruption of Service)
(1) The service may be used for 24 hours a day, 7 days a week in principle, unless there is any operational or technical interruption in the Company, except the day or the time when the Company considers that it is necessary to carry out regular and periodic inspections.
(2) The Company may segment the service into a certain class and set the available time for each segment, and the Company shall inform the decision in advance.
(3) The Company may limit or suspend all or part of the service without prior notice in the following cases.
1. When normal use of service is interrupted due to the failure, maintenance of service equipment or overcrowding;
2. When the telecommunication service provider specified in the Telecommunication Business Act terminates its telecommunication services;
3. When services rendered by a third-party service provider (not serviced by the Company) are effectively terminated or;
4. In the case of national emergency, blackout, or other force majeure.
(4) The Company may terminate the services provided upon replacement with new service or occurrence of technical or operational reasons or other reasons that the Company may not provide services.
Article 8 (Notice to Member)
(1) When the Company makes notice to the Member, it can notify by using the message function of email of the Member or the App, etc.
(2) When the Company intends to make notice to a group of Members, the Company may post a notice on the bulletin board of the App, etc. for more than 1 week instead of making individual notice. However, any matters that have a material effect on the Member's transactions shall be notified separately.
Article 9 (Provision of Information)
The Company may provide the following service information, which is deemed necessary to the Member during the use of the service, to the Member by means of e-mail or message of the App, etc., and if the Member does not want to use the information, he/she may opt out of receiving information from the subscription menu or member information menu.
1. Services related to transfer of cryptocurrency;
2. Services concerning events and promotion;
3. Other services provided to Members by the Company, as determined from time to time.
Article 10 (Ownership to Copyrights and Restriction on Use)
(1) The copyrights and other intellectual property rights to the works created by the Company (including the App, etc. and posts on the App, etc.) shall belong to the Company.
(2) The Member shall not use, or cause a third person to use, the information obtained in the course of using the App, etc., to which the Company owns the intellectual property rights, for commercial purposes by copying, transmitting, publishing, distributing, broadcasting and other methods without the prior consent of the Company.
Article 11 (Commission Fee)
(1) The Company may withdraw the commission fee on transfer of cryptocurrency from the Wallet of the Member.
(2) The Company shall publish the commission fee (rate) on the App so that the Member can check it, and Article 3 hereof shall apply mutatis mutandis to the change of the commission fee (rate)
Chapter 4. Purchase of Goods
Article 12 (Application for Purchase)
The Member shall apply for purchases on his/her Apps, etc., by any of the following or similar means.
1. Search and select the Goods
2. Enter the name, address, telephone number, e-mail address of the recipient;
3. Confirm the services with limited withdrawal right, and the details related to costs including cost of delivery;
4. Consent to apply for purchases of Goods, etc., and confirmation on the purchase or confirmation of the Company;
5. Choose payment method.
Article 13 (Completion of Contract)
(1) The Company may refuse to accept purchase application if it falls under any of the following items.
- If there is false, omitted or incorrect information
2. If the purchaser is a minor
- If the Company judges it can be used for a crime
4. If the Company judges that the acceptance of the purchase is significantly impeded by the technology of the Company.
(2) It is considered that the contract has been completed when the acceptance of the Company is delivered to the Member in the form of confirmation notice.
(3) The Member who receives confirmation notice may request the change or cancellation of the purchase immediately after receiving the confirmation notice if there is any inconsistency of the intention, and if the Company receives any request from the Member before it delivers the Goods, then the Company shall immediately follow the request of the Member. However, if payment has already been made, it shall be applied by Article 17 (Cancellation of Subscription, Etc.)
Article 14 (Payment Method)
Payment for goods or services purchased on Apps, etc., may be made by any of the following methods.
1. Payment by cryptocurrency;
2. Other payment method specified by the Company on its payment web page.
Article 15 (Provision of Goods, etc.)
(1) The Company shall take other necessary measures such as make-to-order, packing, etc. so that the goods can be supplied at the time specified on the web page describing the product.
(2) The Company shall specify the delivery method, delivery cost for each delivery, and delivery time for each good purchased by the Member.
Article 16 (Refund)
In case that the Company is unable deliver or supply the Goods applied for purchase by a Member due to the reasons such as the Goods being sold out, etc., the Company shall notify the Member of the reason without delay. And if the Company is paid for the Goods, etc. in advance, the Company shall refund or take necessary action for refund within 3 business days from the payment.
Article 17 (Cancellation of Subscription, Etc.)
(1) The Member who has signed a contract on the purchase of Goods, etc. with the Company may cancel the subscription concerning such contract within a period falling under the following subparagraphs.
- 7 days from the date receiving the written contract. However, if the Goods, etc. are supplied later than the delivery of the written contract, then it shall be 7 days after the supply of Goods, etc. or the date when the supply of Goods, etc. is commenced.
- If the Member does not receive a written contract, if the Member receives a written contract that does not include the address of the Company, or if the Member may not cancel his/her subscription for the period set forth in subparagraph 1 due to a change of the address of the Company, then it shall be 7 days from the date when the Member becomes to know or is able to know the address of the Company.
- If there is any interference with the cancellation of the subscription, etc., then it shall be 7 days after the termination of such interference.
(2) If a Member falls under any of the following subparagraphs, the Member may not cancel the subscription pursuant to Paragraph (1) against the intention of the Company. However, if the Company fails to take the measures under Paragraph (5), the Member may cancel the subscription even if the Member falls under the subparagraph 2 through 5.
- When the Goods, etc. are lost or damaged due to the reasons attributable to the Member. However, the case where the package of the Goods, etc. is damaged in order to confirm the contents of the Goods, etc., shall be excluded.
- When the value of the Goods etc. has decreased significantly due to the use or partial consumption by the Members.
- When the value of the Goods etc. has decreased significantly as the considerable time has passed after the Goods are sold, and it is impossible to sell the Goods again.
4. When the packaging of the Goods, etc. that can be reproduced is damaged.
5. When the provision of the service is started. However, in the case of a contract consisting of separable services or separable digital contents, this shall not apply to the part where the provision not started.
6. When it is expected that allowing cancellation of orders for goods which are separately produced upon consumer’s order or other goods, etc. similar thereto would cause a serious, unrecoverable loss to the Company, and where such fact has been notified in advance with respect to the relevant transaction and the consumer's written consent has been obtained (including electronic documents).
(3) Notwithstanding Paragraph (1) and Paragraph (2) above, if the contents of the Goods, etc. are different from the indication or contents of advertisement, or if the contract is fulfilled different from the agreed contract, the Member may cancel the subscription, etc. within 3 months from the date of receiving the Goods, etc. or within 30 days from the date the Member knows it or is able to know it.
(4) In the case of cancelling the subscription under Paragraph (1) or Paragraph (3) in writing, it shall take effect on the date of sending the written notice stating his/her intention.
(5) In the case of the Goods, etc. that cannot be cancelled, the Company shall indicate the facts on the package or other place that the Member can easily understand it, or make sure that the Member’s right to cancel the subscription, etc. is not interrupted by ways of providing test products to the Member.
Article 18 (Effect of Cancellation of Subscription, etc.)
(1) If the Company is returned the Goods, etc. from the Member, the Company shall refund the money already paid for the Goods, etc. within 3 business days. In this case, if the Company delays in returning the Goods, etc. to the Member, the Company shall pay the interest for late payment by multiplying the interest rate on compensation for late payment stipulated in Article 21-3 of the Enforcement Decree of the Act on the Consumer Protection in Electronic Commerce, Etc. for the period delayed.
(2) In case of cancellation of subscription, the cost required for return of the Goods, etc. received shall be borne by the Member. The Company shall not claim the Member for any penalty or damages for reasons such as cancellation of subscription. However, if the cancellation of subscription occurs because the contents of the Goods, etc. are different from the indication or advertisement, or the contract is fulfilled in a different way from the agreed contract, then the costs required for the return of the Goods, etc. shall be borne by the Company.
Chapter 5. Usage of Token Launcher Service
Article 19 (Token Launcher Service)
(1) A Token Launcher Service enabling the sales of cryptocurrency issued by an entity other than the Company (the “Project Cryptocurrency”) may be launched in the App, etc.
(2) If the Member purchases the Project Cryptocurrency, its issuer directly accepts the offer, and the issuer and the Member enters into a sales contract.
(3) The cryptocurrency registered in the Token Launcher Service are provided and sold by each issuer, and the Company shall not be liable for any cryptocurrency registered on the App, etc. or related transactions, excepting the cryptocurrency of which the Company is the issuer.
Article 20 (Initiation and Management of Token Launcher Project)
(1) A user, certified by the Company, may subscribe as a member (the “Affiliate Member”) capable of creating and managing a project (the Token Launcher Project”) for selling cryptocurrency.
(2) The Affiliate Member may, in accordance with the Company’s guidelines, launch a Token Launcher Project for selling the Project Cryptocurrency to other members.
(3) The Affiliate Member must comply with the relevant laws and regulations (including, but not limited to, the laws of the Republic of Korea) and the Company’s guidelines in managing and operating the Token Launcher Project and selling the Project Cryptocurrency.
(4) The Affiliate Member shall be solely liable for the sales of the Project Cryptocurrency, compensate all damages incurred by the Company, other Members, employees and directors of the Company and other third parties (the “Company, etc.”) and indemnify the Company, etc.
Chapter 6. Duties of Company and Member
Article 21 (Duties of Company)
(1) The Company shall not be engaged in any acts contrary to laws and regulations, these Terms and Conditions or public order and standards of decency and shall do its best to provide goods and services continuously and reliably as stipulated in these Terms and Conditions.
(2) The Company shall have a security system to protect the Member's personal information so that the Member can use the its service safely.
Article 22 (Responsibility to Manage ID, PW and Keeper of Member)
(1) The Member shall be responsible for the management of his/her ID, password and Keeper (“ID, etc.").
(2) If a Member recognizes that his/ her ID, etc is stolen or is being used by a third party, he/she shall notify the Company of the fact immediately and follow the instructions of the Company, if any.
(3) The Company shall not be liable for any damages incurred to the Member without reason attributable to the Company in connection with the negligent management and illegal use of ID, etc.
Article 23 (Prohibition)
The Member shall not be engaged in any of the following acts.
- Registration of false information when subscribing the service on App, etc or changing his/her member information.;
2. Double registration by same Member with different ID;
- Acts of providing, lending or delegating the use of ID, etc. to a third party for the purpose of transferring or providing it as security;
4. Acts of leaking, exposing or neglecting the password or Keeper;
- Acts of interfering with any other person’s use of the App or stealing information thereof;
6. Changes of information posted on the App, etc.;
7. Sending or posting information other than information specified by the Company (computer programs, etc.);
8. Infringement of intellectual property rights including copyrights of the Company and/or other third parties;
9. Acts of impairing the reputation or disturbing the business of the Company or any other third party;
10. Acts of disclosing or posting any obscenity or violent message, video clips, voice and other information going against the public order and standard of decency on the App, etc.
- Acts of reproducing or distributing the information obtained on the App, etc. without the prior consent of the Company, or using it for commercial purpose;
12. Attempts to trade commodities and other services that violate public order and standard decency;
13. Inducing direct transactions using information obtained through the Company services;
14. Acts of collecting, storing and disclosing other Members' personal information without their consent
Chapter 6. Withdrawal of Member and Restriction on Use
Article 24 (Withdrawal of Member) (1) The Member may request the withdrawal from the App, etc., at any time, and the Company shall immediately handle the withdrawal of the Member.
Article 25 (Restriction on Use)
(1) The Company may restrict the use of the service as follows, and if the reason for suspension is resolved, then the suspension shall be terminated.
Reasons for suspension
Restriction on Log-in
- Continuous password error
log-in is not allowed
Restriction on use of some of the services
- Unidentified name or contact information
use of specific service is not allowed
(2) In addition to the reasons stated in Paragraph (2), if the Member falls under any of the following subparagraphs, the Company may restrict and suspend the membership.
- When the Members is engaged in the acts prohibited by law or these Terms and Conditions, or contract to the public order and standard decency using the App, etc.
2. When a Member is inactive and does not express his/her intention to use the service again within a period prescribed by the Company.
3. When it is objectively judged by the Company that the use of the App, etc. by the Member is related to the criminal acts.
(3) In case that the Company wishes to restrict the use, the Company shall notify the Member of the fact using the message function of the App, etc. e-mail, or telephone by specifying the reasons, time and period. However, if the Company judges that it is necessary to suspend the use of the service urgently, the Company may restrict the use of the service without going through the procedure of the preceding Paragraph.
(4) In case of Paragraph (3), the Company shall give the Member the opportunity to explain through the customer center, and shall terminate the suspension immediately only if it is confirmed that the cause for suspension does not exist or it has been resolved during the suspension period.
(5) In case that after the Company restricts or suspends the membership, if the same act is repeated more than once, or if the reason is not corrected within 30 days, the Company may disqualify the membership.
(6) If the Company disqualifies the membership, the membership registration shall be canceled. In this case, the Company shall notify the Member of the fact and give the Member the opportunity to explain according to Paragraph (4) before the registration of membership is cancelled.
Chapter 7. Indemnity and Miscellaneous Provisions
Article 26 (Indemnity)
The Company shall be indemnified from and against the following cases.
- Force majeure events such as war, accident, natural disasters, or other equivalent national emergency;
2. Damage caused by intention or negligence of the Member;
- Failure of telecommunication service provided by other telecommunication service providers under the Telecommunications Business Act;
4. Damages suffered by the Member due to the contents posted, registered or transmitted by another Member;
5. Damages caused by a technical defect of a Wallet created outside the App upon transferring cryptocurrency to such Wallet;
6. Damages caused by service failure of the cryptocurrency issuance and management system or of the telecommunication service provider, or by a periodic server inspection occurred when the cryptocurrency is transferred.
Article 27 (Representation ad Disclaimer)
(1) The Company shall not reserve any authority to represent the Member who intends to sell, purchase or transfer the cryptocurrency, and any acts of the Company shall not be deemed to represent the Member who sells or purchases the cryptocurrency.
(2) The Company shall not guarantee the fact, authenticity or legality of intention to sell or purchase regarding sale, purchase, and transmission of the cryptocurrency between the Members which happens through the service provided by the Company.
(3) The Company shall not be liable for the goods or services handled by the site linked to the Website of the Company. The Company and the site linked to the Website of the Company are independent operation, and the Company shall be indemnified from and against any transactions between the site linked to the Website of the Company and the Member.
Article 28 (Settlement of Dispute)
(1) The Company and the Member shall make efforts necessary to resolve disputes arising in connection with the services smoothly.
(2) The Company shall endeavor to treat complaints and opinions raised by the Member first. However, if it is not possible to handle it promptly, the Company shall promptly inform the Member of the reason and expected schedule.
Article 29 (Jurisdiction and Governing Law)
The laws of the Republic of Korea shall apply to disputes arising between the Company and the Member, and if any dispute results in the legal proceeding. These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of Korea without reference to its conflict of laws principles.