This User Agreement (“Agreement” or “Terms and Conditions”) is a contract between you (“you,” “your” or “user”) and BSave a private limited company incorporated in England and Wales (“BSave,” “we”, “us” or “our”) and applies to your use of the BSave website and all services described herein (collectively, the “BSave Services”).
We may amend or modify this Agreement by posting on the BSave Site or emailing to you the revised Agreement. Any revised Agreement shall be effective immediately upon your express approval, or one month after the date of posting except where the changes and modifications are required by law or on the instruction of a competent governmental agency. By continuing to access or use the BSave Services once the revised Agreement is effective, you agree to be bound by the Agreement. We may (a) modify or discontinue any portion of the BSave Services and (b) suspend or terminate your access to the BSave Services, at any time, and from time to time, without notice to you in certain, limited circumstances described herein. You agree that we shall not be liable to you or any third party for any modification or termination of the BSave Services, or suspension or termination of your access to the BSave Services, except to the extent otherwise expressly set forth herein.
To be eligible to use the BSave Services, you must be at least 18 years old (or the applicable age of majority and contractual capacity). By accessing or using the BSave Services you represent and warrant that you are 18 or older.
BSave recognizes that decentralized and distributed digital currency and payment systems in which payments are processed and secured by advanced cryptography and distributed computing power instead of a central bank, corporation or government pose a risk of illegal uses (as do all financial systems). BSave believes, however, that the legitimate use of math-based currency networks provides untold benefits and efficiencies within the global economy. Accordingly, BSave has implemented this Agreement and its accompanying Policies to assess the specific risks posed by BSave’s innovative services and establishes specific controls to address those risks as required by law (this Agreement and its accompanying Policies apply whether a state’s law treats bitcoin as a currency or commodity).
The risk of loss in trading or holding bitcoin can be substantial. You should therefore be aware of the associated risks and carefully consider whether trading or holding bitcoin is suitable for you in light of your financial condition.
1.1 Password Security and Keeping Your Contact Information Current. You are responsible for maintaining adequate security and control of any and all IDs, passwords, hints, or any other codes that you use to access the BSave Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your BSave Account. We assume no responsibility for any loss that you may sustain due to compromise of your sensitive information. Immediately contact BSave Support at [email protected] of any unauthorized use of your account or any other breach of security.
1.2 You may not use your BSave Account to engage in the following categories of activity (“Prohibited Use”). By opening a BSave Account, you confirm that you will not use your Account to do any of the following:
1.3 The following categories of businesses, business practices, and sale items are barred from BSave Services (“Prohibited Businesses”). By opening a BSave Account, you confirm that you will not use BSave Services to accept payments in connection with the following businesses, activities, practices, or items:
1.4 Use of the Service may be subject to limitations, including but not limited to transaction volumes and the number of calls permitted to be made against BSave’s application programming interface. Any such limitations will be advised.
1.5 For the purpose of account security, BSave reserves the right to request additional information at any time to support the verification of user identities.
1.6 BSave reserves the right to lock or close accounts with no notice deemed as duplicate.
2.1 All copyright, trademarks and other intellectual property rights in all material or content supplied as part of the BSave Site shall remain at all times vested in BSave. You are permitted to use this material or content only as expressly authorized in writing by BSave and may not agree nor assist or facilitate any third party to copy, reproduce, transmit, distribute, commercially exploit or create derivative works of such material or content. If you obtain BSave’s prior written consent, you may use and display BSave’s name and logo (“BSave Marks”) solely to attribute BSave.
3.1 These specific AML & CTF Terms and Conditions apply to BSave Services. They are additional to and should be read together with the Anti-Money Laundering (“AML”) and Counter Terrorist Financing (“CTF”) Policy for BSave Services.
If there is any inconsistency between them, these Specific Terms and Conditions take precedence over the BSave AML & CTF Policy to the extent of the inconsistency.
3.2 BSave is prohibited from transacting with individuals, companies and countries that are on prescribed Sanctions lists.
BSave will therefore screen against United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) sanctions lists in all jurisdictions in which we operate. In addition, BSave reserves the right to perform due diligence checks against the identification and verification of its users.
3.3 BSave reserves the right to withhold or delay the withdrawal of funds belonging to users who fail to comply.
3.4 BSave reserves the right to file Suspicious Activity Reports (SAR) in confidentiality to relevant government agencies.
5.1 By using the BSave Services, you agree that BSave may provide you with any notices or other communications about your BSave Account and the BSave Services electronically:
(a) via email (in each case to the address that you provide), text message, or telephone call (in each case to the phone number that you provide), or (b) by posting to the BSave Site. For notices made by email, the date of receipt will be deemed the date on which such notice is transmitted.
5.2 From time to time, BSave may engage third parties to assist BSave in providing certain aspects of the BSave Services (each, a “Service Provider”). Service Providers may include, but are not limited to; BSave’s banking partners and technology or engineering service providers.
6.1 You acknowledge that:
7.1 BSave gives no warranty about the Website. Without limiting the foregoing, BSave does not warrant that the Service will meet your specific requirements.
7.2 BSave does not warrant that the use of the Website will be uninterrupted or error free. Among other things, the operation and availability of the systems used for accessing the Website, computer networks and the Internet, can be unpredictable and may from time to time interfere with or prevent access to the Website. BSave is not in any way responsible for any such interference that prevents your access or use of the Website and the Service. BSave does not warrant that the Service will be timely, secure, or virus-free, and the results that may be obtained from the user of the Service will be accurate or reliable.
8.1 A variable interest payment is paid on the funds deposited in your BSave account. Scheduled interest payment may be a single (1) bit. The variable interest is dependent upon several factors, including, but not limited to, the amount of funds deposited in your BSave account, the duration of deposit, and the loan margin market rate.
8.2 Interest payments can only be made by direct deposit to the BSave account holder’s self designated bitcoin address.
8.3 Interest will be applied to your account and compounded on a daily basis, in arrears, at a set time each day.
8.4 You may request a withdrawal at any time if the amount requested is within your BSave account balance and is more than 0.01 BTC. Withdrawals can only be made to the BSave account holder’s self designated Bitcoin address. Withdrawals are processed in several batches during any 24 hour period and will be normally returned to the BSave account’s self designated address within 24 hours.
9.1 To the extent permitted by applicable law, you agree to defend, indemnify and hold harmless BSave, its parent corporation, officers, directors, employees and agents, from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney’s fees) arising from: (i) your use of the Website and/or Services; (ii) your violation of any term of these Terms of Service; or (iii) your violation of any third party right. This defense and indemnification obligation will survive these Terms of Service and your use of the Service.
10.1 In no event will BSave, or its suppliers or licensors, be liable with respect to any subject matter of this agreement under any contract, negligence, strict liability or other legal or equitable theory for: (i) any special, incidental or consequential damages; (ii) the cost of procurement or substitute products or services; (iii) or interruption of use or loss or corruption of data. BSave shall have no liability for any failure or delay due to matters beyond its reasonable control. The foregoing shall not apply to the extent prohibited by applicable law.
11.1 If you violate any portion of this Agreement, your permission to access and use the BSave Services may be terminated pursuant to this Agreement. In addition, we reserve the right to all remedies available at law and in equity for any such violation. “BSave.io”, “BSave”, and all logos related to the BSave Services or displayed on the BSave Site are either trademarks or registered marks of BSave or its licensors.
11.2 We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, legal process or governmental request. We reserve the right to cancel and/or suspend your BSave Account immediately and without notice if we determine, in our sole discretion, that your Account is associated with a Prohibited Use and/or a Prohibited Business or in any such circumstances as BSave, in its sole discretion, considers reasonably necessary or appropriate.
12.1 Any failure or delay by us to enforce any of the Terms and Conditions or to exercise any right under the Terms and Conditions will not be construed as a waiver to any extent of our rights.
13.1 We and our affiliates will not be liable for any delay or failure to perform any obligation under this Agreement and shall not affect the validity and enforceability of any remaining provisions where the delay or failure results from any cause beyond our reasonable control, including acts of God, labor disputes or other industrial disturbances, systemic electrical, telecommunications, or other utility failures, earthquake, storms or other elements of nature, blockages, embargoes, riots, acts or orders of government, acts of terrorism, or war.
14.1 All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, sections pertaining to suspension or termination, BSave Account cancellation, debts owed to BSave, general use of the BSave Site, disputes with BSave, and general provisions, shall survive the termination or expiration of this Agreement.
A blockchain hard fork is defined as a permanent divergence in the blockchain that occurs when nodes follow different consensus rules. This means that a crypto currency will be effectively split into two separate independent currencies. Due to the administrative complexity of distributing and splitting a hard forked currency in our system, support of any forked currency is solely at the discretion of Bsave. If we make no public announcement regarding an attempted fork, we will not support and distribute the new currency. In the event that a hard fork has a significant consensus among the community and businesses, it is also possible that we only support the hard forked currency and do not support the legacy currency anymore.
If our customers wish to split their tokens after such a hard fork, it is necessary that they withdraw their funds prior to the fork date. We are neither liable for any damages resulting from a hard fork, nor will we return any funds accidentally deposited from a currency that our system does not support.
15.1 This Agreement and any matter arising from or in connection with it shall be governed and construed in accordance with the law of England and Wales. Each party irrevocably agrees to submit to the exclusive jurisdiction of the English courts over any claim or matter arising from or in connection with this Agreement. Each party agrees that the service of process in any such action or proceeding may be affected in accordance with section 15.2 of this Agreement.
15.2 All notices, requests, demands, and other communications under this Agreement shall be in writing and in English. All such notices, requests, demands, and other communications shall be sent to the addresses set forth in the first page of this Agreement (or to such other addresses which a party shall designate in writing to the other party in accordance with this section).
BSave offers a financial services platform that allows a user to store securely bitcoins in a BSave account managed on BSave’s website. (“Savings services”).
BSave recognizes that decentralized and distributed digital currency and payment systems in which payments are processed and secured by advanced cryptography and distributed computing power instead of a central bank, corporation or government pose a risk of illegal uses (as do all financial systems). BSave believes, however, that the legitimate use of math-based currency networks provides untold benefits and efficiencies within the global economy. Accordingly, BSave has implemented this Policy and its accompanying AML Program to assess the specific risks posed by BSave innovative services and establishes specific controls to address those risks as required by law (this AML/CTF Policy applies whether a state’s law treats bitcoin as a currency or commodity).
The BSave AML/CTF Policy is designed to prevent money laundering by meeting the UK AML legislation obligations including the need to have adequate systems and controls in place to mitigate the risk of the firm being used to facilitate financial crime.1 The AML/CTF Policy fundamentals are as follows:
1. BSave appointed a Money Laundering Reporting Officer (MLRO) who has sufficient level of seniority and independence and who has responsibility for oversight of compliance with relevant legislation, regulations, rules and industry guidance;
2. BSave established and is maintaining a Risk Based Approach (RBA) towards assessing and managing the money laundering and terrorist financing risks to the company;
3. BSave established and is maintaining risk-based customer due diligence, identification, verification and know your customer (KYC) procedures, including enhanced due diligence for those customers presenting higher risk;
4. BSave established and is maintaining risk based systems and procedures to monitor on-going customer activity;
5. BSave has implemented procedures for reporting suspicious activity internally and to the relevant law enforcement authorities as appropriate;
(a) The Proceeds of Crime Act 2002 (POCA), as amended by the Serious Organized Crime and Police Act 2005 (SOCPA) and the Proceeds of Crime Act (Amendment) Regulations 2007; (b)The Terrorism Act 2000, as amended by The Anti-Terrorism, Crime & Security Act 2001 and the Terrorism Act (Amendment) Regulations 2007; (c) The Terrorism Act 2006; (d) The Money Laundering Regulations 2007; and (e) The Joint Money Laundering Steering Group (JMLSG) Guidance for the UK Financial Sector on the prevention of money laundering/combating terrorist financing.
6. BSave maintains records for minimum prescribed periods; and
7. BSave is training and raising awareness for all relevant employees.
BSave is prohibited from transacting with individuals, companies and countries that are on prescribed Sanctions lists. BSave will therefore screen against United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) sanctions lists in all jurisdictions in which we operate.
Please note, whilst BSave is currently unregulated and does not fall with the scope of the AML/CTF obligations in the UK, the senior management has taken measures to implement systems and procedures that meet the UK AML/CTF legislation as described above. This decision reflects the senior managements desire to prevent money laundering and prevent the use of the Services by criminals to launder proceeds of crime, despite BSave’s commitment to protect its users’ privacy.
BSave recognizes your right to confidentiality where your identity has been validated. However, if, for whatever reason, BSave becomes suspicious of an attempt to launder money, BSave will actively assist the appropriate authorities in their efforts to detect it. BSave also keeps comprehensive records of financial activity in order to assist the authorities in this regard.
Last Revised July 2017
This product term of use provides an overview of how Bsave (“Bsave” or the “ Company” or “we”) operates the Defender on behalf of clients (“User” or “you” or “your”) request, the factors that can affect the timing of execution. In addition we bring to “your” attention that the factors that can affect the timing of execution and way in which market volatility plays a part in handling orders when operating financial instruments.
The Terms may be revised and updated from time to time, with or without any notice. The Company shall make reasonable efforts to post a prominent notice in case the Terms shall change substantially. The Company urges you to check the Last Revised date which appears at the top of these Terms.
By connecting to, accessing or using the Service, you acknowledge that the terms constitute a binding and enforceable legal contract between the Company and any person connecting to, accessing or using the Site or the Service.
Any claim relating to the Site, the Service or the use thereof will be governed by and interpreted in accordance with the laws of the United Kingdom without reference to its conflict-of-laws principles.
Any dispute arising out of or related to the Site or the Service will be brought in, and you hereby consent to exclusive jurisdiction and venue in, the competent courts of the London District, United Kingdom. You agree to waive all defenses of lack of personal jurisdiction and forum non-conveniens and agree that process may be served in a manner authorized by applicable law or court rule.
IF YOU DO NOT AGREE TO THE TERMS OR IF YOU DO NOT MEET THE MINIMUM AGE REQUIREMENTS, DO NOT CONNECT TO, ACCESS OR USE THE SERVICE.
The Defender temporarily store your bitcoin in the form of an alternative currency ( USD). This can help protect your stored value from price fluctuations, and is convenient if you wish to use bitcoin at any time.
By way of example only, if a customer activates the Service and deposits 1 bitcoin based on a Closing Price (as defined below) of US$400 and following the deposit the exchange Price rate (as defined below) of 1 bitcoin decreases to US$200, the customer would be entitled to 2 bitcoins.
For the avoidance of doubt, the Service only protects against depreciation in the bitcoin Exchange rate Price and does not reward interest payments in the event of an increase in the bitcoin Exchange rate Price. Upon activating the Service, User will be provided with a Quoting Price (as defined below). Clicking to finalize a hedging transaction (“Transaction“) based on a Quoting Price will result in an algorithm immediately verifying any fluctuation in the Exchange Price (as defined below) and fix the Closing Price (as defined below).
For the purpose hereof, (a) an “Exchange Price” means the BTC/USD exchange rate published on BITFINEX trading platform and streamed to the Site [https://www.bitfinex.com/]; (ii) the “Quoting Price” means an exchange rate of BTC/USD based on: (i) the Exchange Price; and (b) a 0.5% Service commission added to the Exchange Price, as further detailed in: https:// www.bsave.io/ (the “Site”). , and (c) the “Closing Price” means the Quoting Price as fixed to reflect any fluctuation in the Exchange Price upon the Transaction.
By connecting to, accessing or using the Service you acknowledge and agree to the procedure above and to the manner in which the Exchange Price, Quoting Price and Closing Price are determined.
Without limiting the foregoing, you hereby acknowledge and agree that due to the fluctuation in the bitcoin exchange rate, the Quoting Price is an indicative measure only and that the Closing Price may deviate from the Quoting Price. Therefore User agrees that the Company will not be liable in any way for any deviation between the Quoting Price and the Closing Price. Furthermore, you acknowledge and agree that the fact that the Closing Price is set immediately after the Transaction is finalized, does not grant you a right to cancel the Transaction.
The Defender service (the “Service“) is available, and described at: https:// www.bsave.io/ (the “Site”).
The Service, including without limitation any content, data and information related thereto, is provided on an “as is” and “as available” basis, without any warranties of any kind, express or implied, including but not limited to warranties of title or noninfringement or implied warranties of use, merchantability or fitness for a particular purpose or use.
The Company does not warrant that the Service will be uninterrupted, error-free, free of viruses, or worms, other harmful components, or other program limitations. The Company may at its sole discretion and without any obligation to do so, correct, modify, amend, enhance, improve and make any other changes to the Service at any time or to discontinue displaying or providing any information, content or features without a notice to you.
You agree and acknowledge that the use of the Service, including use of and/or reliance on any content and/or information available through the Services is to the maximum extent permitted by applicable law, and at your own risk.
bitcoin is a fairly new form of cryptocurrency and is mostly an OTC unregulated currency. No single institution controls the bitcoin network and there is no certainty whether the bitcoin will be regulated in the future and what the implications of such regulations will be.
You hereby acknowledge that you have the necessary knowledge and experience required to use the Service and that you can evaluate the potential risks involved in using the Service.
If a regulatory agency imposes new regulations on bitcoin, the Company may, in its sole discretion, modify its compliance program to align with the new regulations, or perform an orderly shutdown of the Site prior to the new regulations taking effect. Using the Service is solely at your own risk. you hereby understand that there are dramatic fluctuations in the price of the bitcoin and that the Service protects against depreciation of the Exchange rate Price of your bitcoins and does not reward interest payments in the event of an increase in the bitcoin Exchange rate Price. you hereby assume all risks, liabilities and/or harm of any kind arising in connection with and/or resulting from the use of the Service.
For the avoidance of doubt, the Company will not be liable for any damages or loss you may suffer due to an increase in the Exchange rate Price of the bitcoin and the Company does not guarantee any specific outcome from the use of the Service.
There are risks associated with utilizing an Internet-based deal execution system including, but not limited to, the failure of hardware, software, and Internet connection. Since Bsave does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the Internet. Bsave employs back-up systems and contingency plans to minimize the possibility of system failure.
Although when quoting a price for hedging with the bitcoin Defender, BSave has a general duty to act honestly, fairly, professionally and in the best interest of the client, you hereby acknowledge and agree that the price quoted is indicative only, and that the execution price is not guaranteed in any way whatsoever. The quoting price in the hedging product is a computed feed price.It is indicative. When the clients wants to hedge; an indicative price is quoted. Afterward when clicking it fixes a closing price and the deal is closed.
A ticket is issued with the details of the deal.
In no event shall the Company be liable for any damages whatsoever including, but not limited to, indirect, special, incidental or consequential damages of any kind, whether in an action of contract, negligence or other tortious actions resulting from or arising out of (i) the Service, (ii) the use or inability to use the Service, (iii) the use or reliance on any content displayed or associated with the Service; or (iv) that the Execution Exchange Price reflects exact fair market value at any time or (v) any loss of revenue, income, profits or anticipated savings, or loss or corruption of information or data, regardless of whether the Company or an authorized representative of the Company has been advised of the possibility of such damages.
In no event shall Company’s liability under these Terms and/or in connection with the Service, exceed the aggregate amount of the commission actually paid by you to the Company in consideration for the Service as provided to You hereunder.
This limitation in liability includes, but is not limited to, any damage to computer equipment and computer systems caused by virus, malware and any other harmful computer coding.
1, Hallswelle Road
London NW11 0DH
Mail: [email protected]