Bifinity UAB Terms of Use

Bifinity UAB Terms of UseLast updated: 7 June 2023
Please read these terms of use (the “Terms of Use”) carefully as they govern your use of the Services (as defined below). The value of Digital Assets may go up or down and there is a substantial risk of losses when purchasing, selling, holding or investing in Digital Assets. By using any Services, you acknowledge and agree that: (1) you are aware of the risks associated with transactions of Digital Assets and you should not trade more than you can afford to lose; (2) you are solely responsible for your trading decisions and strategy and strategy and you are assuming all risks related to the use of Services and transactions in Digital Assets (unless otherwise provided by these Terms); (3) Bifinity shall not be liable for any such risks or adverse outcomes; and (4) you should obtain independent legal and/or financial advice before entering into any transaction and/or using Services. Before trading, please take into consideration your level of experience and your trading objectives. Past performance is not a reliable predictor of future performance. It is your responsibility to ascertain whether you are permitted to use Services based on your individual circumstances. Not financial advice.
Although Bifinity has been committed to maintaining the accuracy of the information provided through Services, Bifinity cannot and does not guarantee its accuracy, applicability, reliability, integrity, performance or appropriateness, nor shall Bifinity be liable for any loss or damage that may be caused directly or indirectly by your use of that information. Bifinity does not provide investment or consulting advice of any kind. 
The Terms are entered into between you (hereinafter referred to as “you” or “your”) and Bifinity (as defined below). By clicking on “I agree”, “I accept”, “Start” or similar wording, in each case in connection with any Services, you agree that you have read, understood and accepted the Terms as well as our Privacy Policy. In addition, when using some features of the Services, you may be subject to specific additional terms and conditions (including those of Fiat Partners) which may be applicable to those features, and by using these features you acknowledge that you have read, understood and accepted such additional terms and conditions.
If you do not agree to the Terms, you should not utilise any of the Services in any way.
The Terms are subject to any mandatory provisions of the Applicable Law of the jurisdiction in which you reside.
1. Definitions
1.1 In the Terms of Use, the following defined terms shall have the meaning ascribed to them below:
“Applicable Law” means all statutes, laws (including rules of common law), principles of equity, rules, regulations, regulatory principles and requirements, notices, orders, writs, injunctions, judgements, bye-laws, rulings, directives, proclamations, circulars, mandatory codes of conduct, guidelines, practice notes and interpretations (whether of a governmental body, regulatory or other authority, or self-regulatory organisation of which Bifinity is a member), that are applicable to the provision, receipt or use of the Services, or any other products or deliverables provided, used or received in connection with the Services or the Terms.
“Bifinity'' means Bifinity UAB, a Lithuanian private limited company with registration number 305595206 having its registered office at Lvivo g. 25-104, Vilnius, Lithuania, and which is registered with the Financial Crime Investigation Service (FCIS) in Lithuania as a Virtual Currency Exchange Operator and Depository Virtual Currency Wallet Operator in accordance with the applicable laws and regulations of the Republic of Lithuania. Bifinity UAB is not a licensed financial services provider, and the cryptocurrency exchange and depository services provided by Bifinity UAB are not regulated by the Bank of Lithuania. 
“Digital Assets” means a digital representation of value or rights, which may be transferred and stored electronically, using distributed ledger technology or similar technology, including, but not limited to, cryptocurrencies, stablecoins, non-fungible tokens and tokenised derivatives of any other digital asset.
“Fiat Account” means the record (available on your Binance Account) of your fiat currencies’ balance (if any), which is enabled through an electronic money wallet account, a payment account or a similar service that is provided by a Fiat Partner. 
“Fiat Partner” means any third party service provider with which Bifinity may partner in connection with the offering of any Services.
“Services” means the facilitation by Bifinity of any of the following:
1.	maintaining your Fiat Account;
2.	crediting your Fiat Account with fiat currencies via a bank transfer, relevant payment instrument or with a debit card or credit card;
3.	paying for the purchase of Digital Assets at spot prices on any Binance platform with (i) fiat currencies available in your Fiat Account, or (ii) your debit card or credit card;
4.	crediting the proceeds of the sale of Digital Assets for fiat currencies at spot prices on any Binance platform to (i) your Fiat Account, or (ii) your debit card or credit card;
5.	withdrawing fiat currencies from your Fiat Account into your bank account, payment account or similar account or your debit card or credit card.
“Supplementary Terms” has the meaning given to it in Section 2.2 below.
“Terms” means the Terms of Use and any Supplementary Terms.
“Users” means you and other individuals, companies, entities, institutions or organisations that meet the criteria and conditions stipulated by Bifinity and accept the Terms, access or use any Services.
1.2  All capitalised terms and references used in the Terms that are defined and construed in the Binance Terms of Use (“Binance Terms of Use”) but are not defined or construed in the Terms, shall have the same meaning and construction in the Terms. For the avoidance of doubt, where a term or reference is defined both in the Binance Terms of Use and in the Terms, for the purposes of the Terms only, the definition in the Terms shall prevail. For the purpose of these Terms, all references in the Binance Terms of Use to Binance shall be deemed to include Bifinity.
2. General Provisions
2.1 Contractual Relationship
The Terms constitute a legal agreement and create a binding contract between you and Bifinity.
2.2 Supplementary Terms
Due to the rapid development of Digital Assets, the Terms of Use between you and Bifinity do not enumerate or cover all rights and obligations of each party, and do not guarantee full alignment with needs arising from future development. Therefore, the Privacy Policy and all other agreements entered into separately between you and Bifinity are deemed to be supplementary terms (the “Supplementary Terms”) that are an integral part of the Terms and shall have the same legal effect. 
2.3 Changes to the Terms
2.3.1 We can make changes to the Terms at any time due to changes in Applicable Law or changes to the scope and/or functionality of the Services. We will provide you fourteen (14) calendar days' notice period before implementing the change, as provided on our website. 
2.3.2 However, from time to time in some cases we may have to make changes without prior notice to you where there has not been time to notify you (e.g. as a result of a decision by the relevant public bodies). In the event that we are unable to notify the relevant changes on our website in advance, we will inform you of the changes as soon as possible after they have been implemented.
2.3.3 Except where the changes take effect immediately, the updated Terms will take effect fourteen (14) calendar days after you receive notice to that effect. If you do not wish to accept these changes, you have the right to terminate these Terms accordance with Clause 6. If we do not hear from you, we will assume that you have accepted the changes and we will consider your continued access to or use of the Services as acceptance of the updated Terms.
2.4 Prohibition of use
While using the Services, and without prejudice to any other restriction or limitation set out in these Terms, you agree that you will not directly or indirectly:
1.	breach the Terms or any agreement entered into pursuant to, or in connection with, the Terms;
2.	use Services in a manner that violates public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prevent other Users from using Services;
3.	use Services for resale or commercial purposes, including transactions on behalf of other persons or entities, unless expressly agreed by us in writing;
4.	use the Services for anything which, in Bifinity’s reasonable opinion, is designed to control or artificially affect the price of any Digital Asset (market manipulation) including, without limitation, pump and dump schemes, wash trading, self-trading, front running, quote stuffing, and spoofing or layering) regardless of whether prohibited by Applicable Law;
5.	engage in fraudulent activities, or cause us to reasonably suspect that you have engaged in fraudulent activities;
6.	use Services to conduct lotteries; bidding fee auctions; sports forecasting or odds making; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; or games of chance;
7.	(1) receive, or attempt to receive, funds from both us and another User for the same Transaction during the course of a dispute; 
(2) use the Services in a manner that results in, or may result in, complaints, disputes, claims, reversals, chargebacks, fees, fines, penalties, or other liability to us, other users, third parties, or yourself; and 
(3) allow your Fiat Account to have a negative value;
8.	provide false, inaccurate or misleading information in connection with your use of the Services, in communications with us;
9.	(1) replicate or bypass the navigational structure or presentation of Services in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided through Services; 
(2) connect to Services or any of our servers or any other systems or networks of any Services by hacking, password mining/breaching/stealing or any other unlawful or prohibited means; 
(3) probe, scan or test the vulnerabilities of Services, or violate any security or authentication measures on Services or any network connected to Services; 
(4) reverse look-up, track or seek to track any information of any other users or visitors of Services; 
(5) take any actions that impose an unreasonable or disproportionately large load on the infrastructure of systems or networks of Services, or the infrastructure of any systems or networks connected to Services; 
(6) use any devices, software or routine programs to interfere with the normal operation of Services or any transactions on Services, or any other person’s use of Services; or 
(7) forge headers, impersonate, or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you send to us;
10.	facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system, data or information in connection with the Services;
11.	(1) use an anonymizing proxy; 
(2) use any temporary, disposable, self-destructive, or similar email address when using the Services; 
(3) use any device, software, or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with the Services;
12.	create, or purport to create, any security over your fiat currency held in your Fiat Account without our prior written consent;
13.	 violate, or attempt to violate, (1) any Applicable Law; or (2) ours or any third party’s copyright, patent, trademark, trade secret, or other intellectual property rights, or rights of publicity or privacy; 
14.	commercially use, without written consent from Bifinity, Bifinity’s data in any of the following manners:
(i) trading services that make use of Bifinity quotes or market bulletin board information;
(ii) using data feeding or streaming services that make use of any market data of Bifinity; and/or
(iii) using any other websites/apps/services that charge for or otherwise profit from (including through advertising or referral fees) market data obtained from Bifinity;
15.	 modify, replicate, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any copyright statement or label, or licence, sub-license, sell, mirror, design, rent, lease, private label, grant security interests in the properties or any part of the properties, or create their derivative works or otherwise take advantage of any part of the properties without prior written consent from Bifinity;
16.	(1) use any deep linking, web crawlers, bots, spiders or other automatic devices, programs, scripts, algorithms or methods, or any similar or equivalent manual processes to access, obtain, copy or monitor any part of the properties, or replicate or bypass the navigational structure or presentation of Services in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner which is intended to be provided by Bifinityto enable the access to Services; (2) attempt to access any part or function of the properties without authorisation, or connect to Services or any Bifinity servers or any other systems or networks of any Services provided through the services by hacking, password mining or any other unlawful or prohibited means; (3) probe, scan or test the vulnerabilities of Services or any network connected to the properties, or violate any security or authentication measures on Services or any network connected to Services; (4) reverse look-up, track or seek to track any information of any other Users or visitors of Services; (5) take any actions that imposes an unreasonable or disproportionately large load on the infrastructure of systems or networks of Services or Bifinity, or the infrastructure of any systems or networks connected to Services; (6) use any devices, software or routine programs to interfere with the normal operation of Services or any transactions on Services, or any other person’s use of Services; (7) forge headers, impersonate, or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you send to Bifinity, and/or (8) use Services in an illegal way.
17.	access, use, or attempted to access or use, Services directly or indirectly in connection with (1) jurisdictions Bifinity has deemed high risk, including, but not limited to, Cuba, Iran, North Korea, Syria; or (2) persons which Bifinity has deemed high risk, including but not limited to, individuals or entities named as a restricted person or party on any list maintained by the United States of America, United Kingdom, European Union or United Nations, including the sanctions lists maintained by the U.S. Office of Foreign Assets Control or the Denied Persons List or Entity List maintained by the U.S. Department of Commerce.
3  Use of Services
3.1 Activation
Before using any Services, you must activate them on the relevant Binance platform.
Activation of Services may require Bifinity and/or Fiat Partners to be provided with information including your real name, and phone number or email address, as well as any other information that may reasonably be required by Bifinity for the purpose of activation, and accept the Terms and the Privacy Policy. For using certain Services you may also be required to agree to separate terms and/or conditions of the relevant Fiat Partners. Bifinity may refuse, in its sole discretion, to activate Services for you. You warrant that all information provided by you for activation of Services is true, complete, accurate and not misleading, and you agree to timely update any information you provided to Bifinity to maintain the integrity and accuracy of the information. As a User you can only activate the Services once. 
3.2 Eligibility
1.	By using the Services, you represent and warrant, that: (1) as an individual, you are at least 18 or are of legal age to form a binding contract under Applicable Laws at the date of registration; (2) as an individual, legal person, or other organisation, you have full legal capacity and sufficient authorisations to enter into the Terms; (3) you have not been previously suspended or removed from using any Services; (4) you have not previously activated Services as a different User; (5) you are not based, located or residing in, nor acting on behalf of any person or entity based, located or residing in, the United States of America, the Republic of Singapore, Ontario (Canada), the Kingdom of Netherlands, Japan, the People’s Republic of China,the Kingdom of Thailand, and such other locations as designated by Bifinity; (6) if you act as an employee or agent of a legal entity, and enter into the Terms on their behalf, you represent and warrant that you have all the necessary rights and authorizations to bind such legal entity; (7) your use of any Services will not violate any Applicable Law; (8) you have not been included in any trade embargoes or economic and/or other sanctions list, the list of specially designated nationals maintained by OFAC (The Office of Foreign Assets Control of The U.S. Department of The Treasury), or other sanction list issued and or applicable in the European Union and/or Republic of Lithuania. Similarly, you have no connection (income, business or employment relationship or otherwise) with any sanctioned organisation or jurisdiction. 
2.	Please note that Services may not be available in certain jurisdictions or regions or to certain users. Bifinity reserves the right to change, modify or impose additional restrictions at its discretion at any time. Bifinity reserves the right to refuse, in its discretion, the provision of Services to certain companies and/or individuals.
3.3 User Identity Verification
(a) In order to use Services you may be required to provide all the required personal information for identity verification purposes. Scope of required information may change from time to time and Bifinity or Fiat Partners may require additional information, if required by Applicable Law or in order to ensure accurate identity verification. Such information will be used to verify Users’ identity, identify traces of money laundering, terrorist financing, fraud and other financial crimes through Bifinity, or for other lawful purposes stated by Bifinity. We will collect, use and share such information in accordance with our Privacy Policy.
(b) In addition to providing such personal data, you agree to allow Bifinity to keep a record of that personal data during the period for which you use Services and/or remain an active User and within eight (8) years after the Terms or any part thereof are terminated, or for any other period required by Applicable Law, in compliance with global industry standards on data storage. You also authorise Bifinity to conduct necessary investigations directly or through a third party to verify your identity or protect you and/or us from financial crimes, such as fraud. The information Bifinity requires to verify your identity may include, but is not limited to, your name, surname, government-issued personal code,and/or date of birth, citizenship, email address, contact information, phone number, username, government-issued ID, and other information collected during account registration. When providing the required information for the purpose of user identity verification, you confirm and warrant that all information provided by you is true, complete, accurate and not misleading. For more information on how we process and store personal data please refer to our Privacy Policy.
(c) After registration, you must ensure that the information is true, complete, and timely updated when changed. If there are any grounds for believing that any of the information you provided is incorrect, false, outdated, misleading or incomplete, Bifinity reserves the right to send you a notice to demand correction, directly delete the relevant information, and/or, as the case may be, terminate all or part of any Services provided for you. If any of the information provided by you is untrue or incomplete, or if we are unable to reach you with the contact information you provided in a reasonable time, you shall be fully liable for any loss or expense caused to Bifinity due to your action or lack thereof during your use of any Services. You hereby acknowledge and agree that you have the obligation to update all the information if there is any change. By using the Services, you hereby authorise Bifinity to conduct investigations that Bifinity considers necessary, either directly or through a third party, to verify your identity or protect you, other users and/or Bifinity from fraud or other financial crimes, and to take necessary actions based on the results of such investigations. You also acknowledge and agree that your personal data may be disclosed to credit bureaus and agencies for fraud prevention or financial crime prevention as well as any other governmental, administrative or judicial authorities.
3.4 Services Usage Requirements
Bifinity reserves the right to suspend, freeze or cancel the use of Services by persons other than the eligible User. If you suspect or become aware of any unauthorised use of your username and password, you should notify Bifinity immediately. Bifinity assumes no liability for any loss or damage arising from the use of Services by you or any third party with or without your authorization.
3.5 Account Security
1.	You shall agree to treat your access credentials (such as username and password) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking the necessary security measures to protect your credentials and personal data. Bifinity will not be liable for any loss resulting from your failure to adhere to these rules.
2.	You should be solely responsible for keeping your credentials safe, and be responsible for all your transactions. Bifinity assumes no liability for any loss or consequences caused by authorised or unauthorised use of your credentials, including but not limited to information disclosure, information release, consent or submission of various rules and agreements by clicking on the website, online agreement renewal, etc. 
3.	By activating Services, you hereby agree that:
(i) you will notify Bifinity immediately if you are aware of any unauthorised use of your credentials or any other violation of security rules;
(ii) you will strictly abide by all mechanisms or procedures of Bifinity regarding security, authentication, trading, charging, and withdrawal;
(iii) Bifinity has the right to investigate any violation of the Terms in order to, unilaterally determine whether you have violated any Terms, and may take relevant actions under relevant regulations without your consent or prior notice. Examples of such actions including, but are not limited to:
(1) locking and closing order requests;
(2) limiting or freezing your access to Services;
(3) reporting the incident to the authorities;
(4) publishing the alleged violations and actions that have been taken;
(5) deleting any information you published that are found to be violations.
3.6 Personal Data and Privacy Policy
Access to the Services will require the submission of certain personally identifiable information. Please review the Privacy Policy as available from time to time for a summary of Bifinity’s guidelines regarding the collection and use of personally identifiable information.
4. Bifinity Services
4.1 General
Upon completion of your activation and identity verification, you may use various Services in accordance with the provisions of the Terms. Bifinity has the right to:
(a) partner with third party service providers, including Fiat Partners, in order to offer any of the Services or facilitate their provision;
(b) provide, modify or terminate any Services in accordance with rules set out in Terms; and/or
(c) allow or prohibit, restrict, suspend, freeze, or block some Users’ use of any Services in accordance with the Terms.
4.2 Licence
(a) Provided that you comply with the Terms at all times during your usage, Bifinity grants you a revocable, limited, royalty-free, non-exclusive, non-transferable, and non-sublicensable licence to access and use the Services through your computer, mobile device or other Internet compatible devices for your personal/internal purposes. You are prohibited to use any Services for resale or commercial purposes, including transactions on behalf of other persons or entities. All the above actions are expressly prohibited and constitute a material violation of the Terms. The content layout, format, function and access rights regarding any Services should be stipulated in the discretion of Bifinity. Bifinity reserves all rights not expressly granted in the Terms. Therefore, you are hereby prohibited from using any Services in any way not expressly authorised by the Terms.
(b) The Terms only grant a limited licence to access and use the Services. Therefore, you hereby agree that when you use any Services, Bifinity does not transfer any Services or the ownership of intellectual property rights of any Bifinity intellectual property to you or anyone else. All the text, graphics, user interfaces, visual interface, photos, sounds, process flow diagrams, computer code (including html code), programs, software, products, information and documents, as well as the design, structure, selection, coordination, expression, look and feel, and layout of any content included in the services or provided through the Services, are exclusively owned, controlled and/or licensed by Bifinity or its members, parent companies, licensors or affiliates.
(c) Bifinity owns any feedback, suggestions, ideas, or other information or materials (hereinafter collectively referred to as “Feedback”) about Bifinity or the Services that you provide through email, or other channels. You hereby transfer all rights, ownership and interests of the Feedback and all related intellectual property rights to Bifinity. 
4.3 Services
By accepting the Terms, you acknowledge and agree that: 
1.	Bifinity may partner with any Fiat Partners in connection with any Services and that, if applicable, you will open an account with such Fiat Partners by completing the relevant registration and identity verification process for such account, and by accepting any user agreements, terms and conditions, policies and procedures or similar documents of any Fiat Partners; you also acknowledge that Bifinity does not assume any responsibility over actions, documents or services provided directly by any Fiat Partner or any other third party provider;
2.	any payments expressed in any fiat currencies and which have been made in connection with any Services may not be cancelled, recalled or refunded, and that any chargeback requests in connection with any Bifinity Services that involve a Fiat Partner, are subject to that Fiat Partner's policies and procedures.
4.4 Fees
You agree to pay Bifinity any fees that may be required to be paid and shall be specified from time to time in accordance with the Terms and published on our website. Bifinity may, in its discretion, update any fees at any time. Any updated fees will apply to any Services that are accessed after the effective time of the updated fees. You authorise Bifinity to deduct from your Fiat Account any applicable fees that you owe in connection with any Services.
If we increase the amount of any fee, we will provide you fourteen (14) calendar days' notice period before implementing the change, as provided on our website. If you do not wish to accept these changes, you have the right to terminate these Terms in accordance with Clause 6. If we do not hear from you, we will assume that you have accepted the changes and we will consider your continued access to or use of the Services as acceptance of the updated Terms.
5 Liabilities
5.1 Disclaimer of Warranties
To the maximum extent permitted by any laws or regulations, the Services, any Bifinity materials and any product, service or other item provided by or on behalf of Bifinity are offered on an “as is” and “as available” basis, and Bifinity expressly disclaims, and you waive, any and all other warranties of any kind, whether express or implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, title or non-infringement or warranties arising from course of performance, course of dealing or usage in trade. without limiting the foregoing, Bifinity does not represent or warrant that the site, Services or Bifinity materials are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components. Bifinity does not guarantee that any order will be executed, accepted, recorded or remain open. Except for the express statements, agreements and rules set forth in these terms, you hereby acknowledge and agree that you have not relied upon any other statement or agreement, whether written or oral, with respect to your use and access of Services. without limiting the foregoing, you hereby understand and agree that Bifinity will not be liable for any losses or damages arising out of or relating to: (a) any inaccuracy, defect or omission of digital assets price data, (b) any error or delay in the transmission of such data, (c) interruption in any such data, (d) regular or unscheduled maintenance carried out by Bifinity and service interruption and change resulting from such maintenance, (e) any damages incurred by other users’ actions, omissions or violation of these terms, (f) any damage caused by illegal actions of other third parties or actions without authorised by Bifinity; and (g) other exemptions mentioned in disclaimers and platform rules issued by Bifinity.
5.2 Disclaimer of Damages and Limitation of Liability
5.2.1 To the maximum extent permitted by any laws or regulations, in no event will Bifinity, its affiliates and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, profits or other businesses or financial benefits) arising out of Services, any performance or non-performance of Services, or any other product, service or other item provided by or on behalf of Bifinity and its affiliates, whether under contract, statute, strict liability or other theory even if Bifinity has been advised of the possibility of such damages except to the extent of a final judicial determination that such damages were a result of Bifinity’s gross negligence, fraud, willful misconduct or intentional violation of law. for jurisdictions that do not allow the foregoing exclusion or limitation of incidental or consequential damages, such exclusion or limitation ímay not apply to you.
5.2.2 Notwithstanding the foregoing, in no event will the liability of Bifinity, its affiliates and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors arising out of services offered by or on behalf of Bifinity and its affiliates, any performance or non-performance of Services, or any other product, service or other item, whether under contract, statute, strict liability or other principles of law, exceed the amount of the fees paid by you to Bifinity under these terms in the twelve-month period immediately preceding the event giving rise to the claim for liability.
5.3 Indemnification
You agree to indemnify and hold harmless, to the highest extent possible under the Applicable Law, Bifinity, their affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to:
(a) your use of, or conduct in connection with, any Services;
(b) your breach or our enforcement of the Terms or
(c) your violation of any law, regulation, or rights of any third party during your use of Services. If you are obligated to indemnify Bifinity, their affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to the Terms, Bifinity will have the right, in its sole discretion, to control any action or proceeding and to determine whether Bifinity wishes to settle, and if so, on what terms.
6 Termination
6.1 Suspension of access to Services
6.1.1 You agree that Bifinity shall have the right to immediately limit or suspend your access to any Services, freeze or lock the funds in connection with any Services for material reasons, including if Bifinity suspects you or your use of the Services to be in violation of the Terms, our Privacy Policy, or any Applicable Laws. You agree that Bifinity shall not be liable to you for any permanent or temporary modification of Services provided to you, the freezing or locking of any funds in connection with such Services, or suspension or termination of your access to all or any portion of any Services. Bifinity shall reserve the right to keep and use the transaction data or other information related to or derived from such Services. The above account controls may also be applied in the following cases:
6.1.2 Provision or use of Services is subject to a governmental proceeding, criminal investigation or other pending litigation;
6.1.3 we detect unusual activities;
6.1.4 we detect unauthorised access; and/or
6.1.5 we are required to do so by a court order or command by a regulatory/ government authority.
6.2 Right to terminate by Bifinity
6.2.1 In case of any of the following events, Bifinity shall have the right to directly terminate the Terms and restrict your use of Services:
(a) you breach any provision of the Terms;
(b) you allegedly register repeatedly, or register in any other person’s name as a  User, directly or indirectly;
(c) the information that you have provided is untruthful, inaccurate, outdated, misleading or incomplete;
(d) when the Terms are amended, you state your unwillingness to accept the amended Terms by applying for termination of these Terms or any part thereof or by way of other conduct or means;
(e) you request that any Services be terminated; and
(f) any other circumstances where Bifinity reasonably deems it should terminate any Services.
6.2.2 Should we terminate the Terms with respect to you, the account and transactional information that meet data retention standards will be securely stored for 8 years, or other period, if provided so by the Applicable Law. In addition, if a transaction is unfinished during the account termination process, Bifinity shall have the right to notify your counterparty of the situation at that time. You acknowledge that a user-initiated account exit (right to erasure under GDPR or other equivalent regulations) will also be subjected to the termination protocol stated above.
6.2.3 If Bifinity is informed that any funds held in your Fiat Account are stolen assets or otherwise are not lawfully possessed by you, Bifinity may, but has no obligation to, place an administrative hold on the affected funds. If Bifinity does lay down an administrative hold on some or all of your funds, Bifinity may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to Bifinity has been provided to Bifinity in a form acceptable to Bifinity. Bifinity will not involve itself in any such dispute or the resolution of the dispute. You agree that Bifinity will have no liability or responsibility for any such hold, or for your inability to withdraw funds or execute trades during the period of any such hold.
6.3 Remaining Funds After Termination
Except as set forth in Section 6.4 below, once the Terms or any respective part thereof are terminated with respect to the User, all fees, expenses, charges, liabilities and any other amount owed to Bifinity as of the date of termination shall become payable immediately to Bifinity, and you hereby authorise Bifinity to set off such amount from your accounts without further notice. Upon payment of all outstanding charges to Bifinity (if any), the relevant User shall withdraw all funds from the Fiat Account within ten (10) Business Days after such payment.
6.4 Remaining Funds After Termination Due to Fraud, Violation of Law, or Violation of The Terms
Bifinity maintains full custody of the User funds and User data/information, any of which may be turned over to governmental authorities in the event of termination or suspension/closure arising from fraud investigations, investigations of violation of law or violation of the Terms. Bifinity does not assume liability for losses that you may have incurred as a result of you voluntarily sending funds to a third party in connection with an investment scam or otherwise, or if you mistakenly sold or purchased Digital Assets or sent them to the wrong addressee. Bifinity does not assume any liability for losses that you sustain as the result of your knowingly and voluntarily participating in fraudulent or illegal activity
7. No Financial Advice
Bifinity is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using any Services. No communication or information provided to you by Bifinity is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. Unless otherwise specified in the Terms, all trades are executed automatically, based on the parameters of your order instructions and in accordance with posted trade execution procedures, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance, and you shall be solely responsible for any loss or liability therefrom. You should consult legal or tax professionals regarding your specific situation. Bifinity does not recommend that any Digital Asset should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any Digital Asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. Bifinity will not be held responsible for the decisions you make to buy, sell, or hold Digital Asset based on the information provided by Bifinity.
8. Compliance with Local Laws
It is Users’ responsibility to abide by local laws in relation to the legal usage of the Services in their local jurisdiction as well as other laws and regulations applicable to Users. Users must also consider, to the extent of their local laws, all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. All users of Services acknowledge and declare that their funds come from legitimate sources and do not originate from illegal activities; users agree that Bifinity will require them to provide or otherwise collect the necessary information and materials as per relevant laws or government orders to verify the legality of the sources and use of their funds. Bifinity maintains a stance of cooperation with law enforcement authorities globally and may be obliged to seize, freeze, terminate Users’ accounts and funds which are flagged out or investigated by legal mandate.
9. Resolving Disputes: Forum, Dispute Resolution, Class Action Waiver
9.1 Notice of Claim and Dispute Resolution Period
9.1.1 In case of any potential claim or dispute please contact Bifinity first.  Bifinity wants to address your concerns without resorting to formal legal proceedings, if possible. If you have a dispute with Bifinity, then you should contact Bifinity and a ticket number will be assigned. Bifinity will attempt to resolve your dispute internally as soon as possible. The parties agree to negotiate in good faith to resolve the dispute (which discussions shall remain confidential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding).
9.1.2 In the event the dispute cannot be resolved satisfactorily, and you wish to assert a legal claim against Bifinity, then you agree to set forth the basis of such claim in writing in a “Notice of Claim,” as a form of prior notice to Bifinity. The Notice of Claim must (a) describe the nature and basis of the claim or dispute, (b) set forth the specific relief sought, (c) provide the original ticket number, and (d) include your Bifinity account email. The Notice of Claim should be submitted to an email address or hyperlink provided in your correspondence with Bifinity. After you have provided the Notice of Claim to Bifinity, either Bifinity or you may initiate the dispute resolution procedure in accordance with Section 10.2. You agree that the submission of a dispute to Bifinity for resolution internally and the delivery of a Notice of Claim to Bifinity are prerequisites to commencement of any legal proceeding in accordance with Section 10.2. During the dispute resolution process, the amount of any settlement offer made by you or Bifinity shall not be disclosed to the arbitrator.
9.2 Governing Law
9.2.1 Governing Law & Dispute Resolution
The Terms shall be governed by, and construed in accordance with laws of the Republic of Lithuania. Any dispute under the Terms shall be brought exclusively in the courts of Lithuania. If you are a consumer within the meaning ascribed to this term in your local laws, such local laws may apply to the Terms (including governing law and/or jurisdiction) and/or provision of Services in the appropriate manner.
9.2.2 Modifications
Bifinity reserves the right to update, modify, revise, suspend, or make any future changes to Article 10. You hereby consent and agree that it is your responsibility to ensure that your understanding of this Article 10 is up to date. Subject to the applicable law, your continued use of your Bifinity account shall be deemed to be your acceptance of any modifications to Article 10 regarding the parties’ agreement to arbitrate. You agree that if you object to the modifications to Article 10, Bifinity may block access to your account pending closure of your account. In such circumstances, the Terms of Use prior to modification shall remain in full force and effect pending closure of your account.
9.3 Severability
If any portion of the Terms are adjudged to be invalid or unenforceable for any reason or to any extent, the remainder of the Terms will remain valid and enforceable and the invalid or unenforceable portion will be given effect to the greatest extent permitted by law.