Terms of Use
These Terms of Use and any terms and conditions incorporated herein (these “Terms”) apply to your (“user”, “you”) use of the Services, including https://bazonix.com/ (the “Website”), the technology and platform integrated therein, and any related applications (including, without limitation, mobile applications) (“Bazonix”, “We”, “Services” or “Us”). We allow you to use our Services, as defined above, on the following terms and conditions.
1. performance and changes
1. The following Terms of Use constitute a binding agreement between Bazonix and the User, entered into after the User visits the official website and uses the services offered. Thus, the User confirms that he/she has read and agreed to these Terms of Use before using the Bazonix service.
2. The User acknowledges that the Terms of Use may be updated or revised by Bazonix in individual cases. If the User has not read and agreed to the Terms of Use, the User shall not continue to use the Service.
3- Any changes to the Terms of Use will be communicated to Users at the available contact details.
4. Bazonix follows and complies with privacy best practices and regulations, including but not limited to the General Data Protection Regulation (GDPR).
2. Services Provided
1. The services provided by Bazonix allow users to exchange one type of cryptoasset for another.
2. It should be stated here that “exchange” refers to the exchange of one type of crypto-asset for another type of crypto-asset on terms agreed upon by the exchanging parties. This exchange operation is carried out through a third-party service on the respective blockchain network. When exchanging cryptoassets, you acknowledge and agree that the exchange will be conducted through a third-party exchange service with additional fees applicable to such exchange. You acknowledge and agree that in the Standard Rate Mode, exchange rate information provided through the Services is an estimate only and may differ from prevailing rates available through other sources outside of our Services. You acknowledge and agree that in “Fixed Rate” mode, Bazonix has the right to refuse to process a transaction through the Bazonix platform if the rate has changed by more than 2%, with immediate refunds to the User (if the User has already sent funds).
3. “Crypto-assets” herein refers to the type of assets that can be transferred solely and exclusively through blockchain technology, including but not limited to digital coins and digital tokens, as well as any other type of digital medium of exchange such as Bitcoin, Ethereum, Ripple, etc., to the complete and absolute exclusion of securities of any kind.
4. To be able to use the services, we require you to agree to undergo AML/KYC procedures, which may be applied to you in accordance with our internal AML/KYC policy. During these procedures, Bazonix reserves the right to request additional information and documents that are intended, inter alia, to identify our User and confirm the source of funds.
5. To effect an exchange through our services, our system automatically generates a specific address containing information about the customer; the pairs of the crypto asset that the User wants to exchange and the crypto asset that the User wants to receive (collectively, the “crypto pair”); and the recipient address specified by the User (the address to which the exchanged crypto assets will be credited). All addresses are reusable for standard rate transactions only: these addresses can be used for an unlimited number of transactions with the same parameters. If you change the crypto pair and/or cryptocurrency recipient address, a new address will be generated by our system.
6. YOU RELEASE AND HOLD Bazonix harmless from any direct or indirect, contrary or special damages, or damages of ANY kind, including but not limited to, LOSS OF USE, LOSS OF PROFITS, OR LOSS OF DATA, WHETHER IN ANY CASE IN JUDGMENT, TORT (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY RELATED TO YOUR USE OF OUR SERVICES, INCLUDING, BUT NOT LIMITED TO, ARISING OUT OF YOUR PERSONAL ERRORS AND MISCONDUCT, SUCH AS IMPROPER USE OF A REUSABLE ADDRESS, IMPROPERLY PROCESSED TRANSACTIONS, ETC. Д.
7. Bazonix DOES NOT PROVIDE SECURITY SERVICES, which implies that we DO NOT PROVIDE CRYPTO-COUNT VALUE STORAGE SERVICES FOR DEPOSITS AND BALANCES. YOUR EXCHANGE MAY BE DELAYED IN SOME INSTANCES, SUCH AS DUE TO AML/KYC PROCESS. YOU HEREBY UNDERSTAND AND ACKNOWLEDGE THAT DELAYS MAY OCCUR; YOU INDEMNIFY AND HOLD US HARMLESS FROM AND AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOST PROFITS, LOSS OF REVENUE OR LOSS OF DATA, WHETHER IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY RELATED TO THE DELAY IN EXCHANGE, WHETHER OR NOT DUE TO OUR FAULT.
3. Returns Policy
1. User understands that cryptocurrency and cryptoassets are highly volatile; their exchange rates are transient; transactions on the blockchain are generally irreversible. Bazonix assumes no responsibility for any risk in using the platform, including but not limited to exchange rate risk and market risk. All sales and transactions after a successful exchange on Bazonix are final and the amount is non-refundable.
2. There are a number of cases where a transaction cannot be finalized by Bazonix and crypto-assets may be returned to the User depending on Bazonix’s decision.
Crypto Assets sent by the User do not match the Crypto Assets wallet address provided by Bazonix.
Crypto Assets are sent to an address that is different from the original address provided by Bazonix for a particular transaction.
The user sends the assets later than 10 minutes after the transaction is confirmed in fixed rate exchange mode.
User sent Crypto Assets in a quantity that does not match the original quantity of assets confirmed by User prior to the transfer of Crypto Assets.
The parties agree that by “sudden changes in the cryptocurrency market” they mean changes in Cryptocurrency exchange rates by 2% or higher in either direction since the transaction was initiated.
Bazonix only accepts one deposit per transaction identifier (TXID) on fixed rate exchanges. If your funds have been placed on a TXID with more than one deposit, you will need to contact support to receive a refund. The exchange rate will not be honored and your exchange cannot be completed.
The user sent crypto assets below the minimum limits set on the site, so the transaction cannot be completed.
3. Bazonix considers refund requests from Users on a case-by-case basis. Any decisions by Bazonix regarding refunds or exchanges are final.
4. If a refund is approved, the digital assets will be sent either to the User’s designated refund address (for fixed rate exchanges) or to the address provided by the User to Bazonix Support within 10 days of the transaction (for standard rate exchanges). Bazonix will only transfer funds to the User’s wallet address, excluding network fees, in full before deducting network fees.
5. In the event that the User requires any additional services as a result of their own error or misuse of the Service, Bazonix may charge an additional transaction fee of 50 USD. Additional services may include, without limitation, asset extraction, manual intervention in the exchange process. By requesting such services, the user agrees to pay the applicable fees.
6. In case the transaction was made on a partner’s platform (any other site, application, service, etc. other than Bazonix), Bazonix is not responsible for the refund procedure. In this case, the User must apply for a refund to the partner platform on which the transaction was made.
7. In case the User for certain reasons does not want to disclose his/her identity and refuses to go through the KYC/AML procedure, Bazonix has the right to terminate the exchange and transfer the deposited funds back to the original address from which the deposit was made, deducting Bazonix’s network commission and transaction fee of 10% of the transferred funds, but not less than 100 USD equivalent.
8. Once an order has been placed, it may not be canceled, withdrawn or rescinded.
9. All executed orders are final and non-refundable.
10. By initiating a transaction and sending funds to the specified address, the user fully and unconditionally agrees to the proposed exchange rate. Thus, the proposed exchange rate, which is initially accepted by the user, is not subject to dispute. This agreement is binding and final, so users are advised to carefully review and confirm their acceptance of the initial exchange rate before proceeding with the exchange.
11 Refund requests will be accepted for one (1) calendar month from the date of the funds transfer. After this period, Bazonix does not guarantee a refund. This provision has been introduced to efficiently manage requests and maintain transparency in the refund process. Bazonix reserves the right to reject requests received after this timeframe, unless the rejection is due to a major disruption in service. After the specified deadline, the service is not responsible for refunds.
12. A refund request, as defined herein, refers to a user’s communication with our support team via chat or email ([email protected]). In order to process a refund request effectively, it must clearly include the following information:
Transaction ID: the unique identifier assigned to this transaction, which can be found on the order page.
Transaction hash: The cryptographic hash associated with a particular transaction that serves as proof of contribution to the blockchain.
Return Address: The address of the wallet to which the funds are to be sent. This address must be valid and accurate.
In case the refund request does not contain the required information, Bazonix reserves the right to reject the request.
13. If for any technical reason the service is unable to fulfill the refund, it may not be able to fulfill the refund request. Users should understand that refund availability is subject to technical feasibility and the service is not responsible for the inability to process refunds due to technical limitations. It is recommended to check the technical feasibility of the refund before initiating a refund request.
4. AML and KYC procedure
1. Bazonix reserves the right to apply the AML/KYC procedure to specific Users, addresses and specific cryptoasset transactions.
2. Up-to-date information on AML/KYC procedures can always be found at bazonix.com.
3. In case the User refuses to undergo the KYC/AML procedure, the refund policy is implemented in accordance with clause 3.7 of the Terms and Conditions.
5. Eligibility
1. Prior to your use of the Services and on an ongoing basis, you represent, warrant, covenant and agree that:
Your use of our Services is solely at your own discretion and risk.
You are NOT located in, under the control of, or a citizen or resident of Cuba, Iran, North Korea, Ontario (Canada), Crimea, Sudan, Syria, the United States of America (including all U.S. territories such as Puerto Rico, American Samoa, Guam, Northern Mariana Islands and the U.S. Virgin Islands (St. Croix, St. John and St. Thomas), Bangladesh, Japan and Bolivia, and any other country subject to the United Nations Security Council Sanctions List and its equivalents (the “Prohibited Jurisdictions”). Bazonix makes no attempt to operate in the Prohibited Jurisdictions. Bazonix has the right to choose the markets, jurisdictions in which to operate and may restrict or refuse to provide its services to certain countries at any time.
Bazonix respects and gives due consideration to the national laws of states, international acts and customs, and to the users of the app.
You are at least 16 years of age or otherwise of legal age in your jurisdiction.
You agree to pay fees for Exchanges made through the Services, as determined by Bazonix, which We may change from time to time.
There are certain risks associated with an Internet-based system, such as failure of hardware, software and Internet connections, and risks associated with Blockchain protocols, such as malfunction, unintended operation, unexpected operation or attack on the Blockchain protocol.
You warrant that the crypto-assets belong only to you and are not sold, seized, arrested, detained or controlled by third parties.
You agree to provide accurate information for the exchange (such as the recipient and sender’s wallet address).
2. You are solely responsible for your acts and/or omissions in using our services. Furthermore, you agree and confirm that you will not violate any law, contract, third party rights or commit any offense by accessing or using the services. Without prejudice to the foregoing, you represent, agree and warrant that YOU WILL NOT:
Use our services or immediately cease using them if any relevant law in your country prohibits or would prohibit you from doing so at any time.
Use our services to engage in fraud, scams or any type of illegal activity.
Use our services to exchange or pay for crypto-assets that are derived from illegal gambling activities, fraud, money laundering, terrorist activities or any other illegal activity. Crypto-assets obtained from legitimate sources can only be used by the User to obtain our services.
Provide false, inaccurate or misleading information;
Attempt to modify, decompile, reverse engineer or disassemble our software in any way.
Use any automated means or interfaces not provided by us to access the Services or extract data.
Attempt to circumvent any content inspection methods we use or attempt to access any service or area of our services that Users are not authorized to access.
Develop any third party applications that interact with our Services without our prior written consent.
Encourage or induce third parties to engage in any conduct prohibited in this section.
3. YOU HEREBY PROTECT AND LIABLE Bazonix from ANY claims, suits or damages whatsoever, whether direct or indirect, incidental or special, including, but not limited to, loss of use, loss of profits or loss of data or loss of property, WHETHER THE CLAIM IS IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY RELATED TO THE INVALIDITY OR BREACH OF ANY OF THE PROVISIONS OF THIS SECTION AND ALL TERMS AND CONDITIONS.
6. Third Party Content and Services
1. “Third Party Content” herein means content provided by third parties, including, but not limited to, web pages of such parties that may be featured on the Site or other services. At the same time, “Third Party Service” means any platform or network where crypto-assets are owned by you or where you are the beneficial owner of crypto-assets; and that platform is maintained by a third party outside of the Services; including, but not limited to, third party accounts.
2. No control over third-party services. The third party service provider may charge you a fee. You are solely responsible for your use of third party services and agree to abide by all terms and conditions applicable to any third party services.
3. Fiat to cryptocurrency services are provided by third parties, and Bazonix is not responsible for the actions and circumstances of third parties.
4. DISCREPANCIES IN EXCHANGE RATES ARE POSSIBLE AT ANY TIME DUE TO THIRD PARTY ALGORITHMS. YOU RELEASE AND HOLD Bazonix harmless from any and all claims, demands and damages whatsoever, whether direct or indirect, incidental or special, including, but not limited to, loss of use, lost profits or loss of data, WHETHER IN CONTRACTUAL ACTION, TORT (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY RELATED TO THE FOREGOING EXCHANGE RATE DISCREPANCY, WHICH IS LESS THAN 10 USD.
5. You may view third party content while using our services. Bazonix does not regulate, promote or endorse (unless otherwise specified by us) Third Party Content and assumes no responsibility or liability for Third Party Content, including, without limitation, material that may be misleading, incomplete, erroneous, offensive, obscene, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely yours and those of the third parties. We are not responsible for any loss or damage of any kind incurred as a result of such dealings, and you understand that your use of Third Party Content and interactions with third parties are at your own risk.
7. Intellectual Property
1. All of our intellectual property (“IP”), including but not limited to all copyrights, trademarks, patents, service marks, trade names, software code, icons, logos, symbols, layouts, trade secrets, buttons, color schemes and graphics, are protected by local and international intellectual property laws and treaties.
2. We hereby grant you a limited, non-exclusive and non-sublicensable license to access and use our IP for your personal use only. 3. Under no circumstances are you permitted to alter, modify, reproduce, distribute or commercially exploit any material, including text, graphics, video, audio, software code, user designs.
3 Under no circumstances are you permitted to alter, modify, reproduce, distribute or commercially exploit any material, including text, graphics, video, audio, program code, user interface design or logos.
4. The license granted under this section automatically terminates if we suspend or terminate your access to the services.
5. You automatically grant us a worldwide license to use your content if you upload or submit any feedback, suggestions, ideas, other information or materials (“Content”). It becomes part of the public domain for as long as it remains on our Website and Services. It may be used for marketing or any other purpose at our discretion.
8. Communications
1. You approve and authorize to receive electronically all Communications that Bazonix may wish to communicate to you in connection with your Bazonix Account and/or use of our Services.
9. Limitation of Obligations
1. EXCEPT AS EXPRESSLY PROVIDED IN WRITING BY US TO THE CONTRARY, OUR SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE EXPRESSLY DISCLAIM AND YOU DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT WITH RESPECT TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.
2. EXCEPT for OTHER CONDITIONS, IN NO EVENT shall Bazonix, OUR DIRECTORS, OFFICERS, MEMBERS, COUNSELORS, OR AGENTS be liable for ANY direct, indirect, consequential or special damages, or ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OR INABILITY TO USE OUR SERVICES, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR ARISING OUT OF ANY USER’S RELIANCE ON ANY INFORMATION, RECEIVED FROM Bazonix, OR ARISING FROM ERRORS, ERRORS, INTERRUPTIONS, FILE OR EMAIL DELETION, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILUAGE OF PERFORMANCE, WHETHER OR NOT RESULTING OF A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO Bazonix’S RECORDS, PROGRAMS OR SERVICES.
3. Check the details of your exchange before proceeding with the transaction, as exchanges through our services cannot be canceled or terminated by Bazonix. Bazonix is not responsible for your crypto assets once they have been shipped outside of the Services. In addition, Bazonix does not guarantee the performance of the exchange.
4. IN MAXIMUM DISCLAIMER WITHIN THE APPLICABLE LAWS, NO LIABILITY OF Bazonix (INCLUDING OUR DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES AND AGENTS), HOWEVER IN CONTRACT, WARRANTY, CAKE (INCLUDING NEGATIVITY, WHETHER ACTUAL OR SUSPECTED), MANUFACTURING LIABILITY, INSURANCE LIABILITY OR OTHER SOURCES EXCLUDING OR RELATED TO THE USE OR INABILITY TO USE Bazonix OR THESE CONDITIONS, exceed the fees paid by you to Bazonix within 3 MONTHS, IMMEDIATELY ENDED BY THE DATE OF THE CLAUSE THAT CREATED THIS RELATIONSHIP.
5. In some cases, crypto-assets may be used to support illegal seizure of property or involved in fraud, scams, or any other activity deemed illegal and/or non-compliant by the laws.
10. Taxes Payable
You are responsible for determining all taxes assessed, incurred or required to be collected, paid or withheld for any reason in connection with your use of the Bazonix software and services (“Taxes”). You are also solely responsible for collecting, withholding, reporting and remitting applicable Taxes to the appropriate taxing authority. We are not required to, and will not, determine whether to apply, calculate, collect, report or remit any taxes to any taxing authority arising from any transaction.
11. Do not offer securities
1- Bazonix takes all possible measures to integrate and exchange only those digital coins, digital tokens and other types of digital medium of exchange that cannot be classified as “securities” by the SEC or other competent national authorities.
2. It is the responsibility of the owner of the digital token and/or digital coin to ensure that the cryptoasset cannot be classified as a “security”. Bazonix reserves the right, in its sole discretion, to prohibit and terminate any exchange (as well as any other type of transaction) of a token or coin if there is any risk or speculation that such token and/or coin may be considered a “security”.
3- We follow best practices to decide whether crypto-assets are securities or not. However, for the avoidance of doubt, the provisions of this paragraph do not constitute and cannot be construed as a warranty and/or investment, financial, legal or any other professional advice that any crypto asset available through our Services is not a security.
12. Termination of Terms
We reserve the right to terminate these Terms and remove your Bazonix account and registration (including your username and password) in the following cases:
If for any reason We decide to discontinue providing the Service by providing at least three (3) calendar days’ notice (which shall be posted on bazonix.com).
If We believe that You have violated any provision of these Terms immediately without notice.
If We decide to discontinue providing Our Services, immediately without notice.
13. Applicable Law; Arbitration
1. You and Bazonix agree to arbitrate any dispute arising out of these Terms or your use of the Services, except for disputes in which either party seeks equitable and other relief for alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents.
2. You and Bazonix agree to notify each other in writing of any dispute within thirty (30) days of its occurrence. Notice to Bazonix shall be sent to [email protected].
3. Any dispute, controversy, difference or claim arising out of or relating to the Terms, including the existence, validity, interpretation, performance, breach or termination thereof, or any dispute regarding non-contractual obligations arising out of or relating to the Terms, shall be submitted to and finally resolved by arbitration administered by the International Arbitration Center.
4. The law governing this arbitration clause shall be the law of Costa Rica.
5. The place of arbitration shall be Costa Rica.
6. The number of arbitrators shall be one. The arbitration shall be conducted in English.
7. Except for the class procedures and remedies described below, the arbitrator shall have the right to grant any remedies that would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws of Costa Rica, without regard to any conflict of laws principles that may provide for the application of the laws of another jurisdiction.
8. Whether the dispute is arbitrated or litigated in court, you will not bring a class action, collective arbitration or representative action or proceeding against Bazonix.
14. Miscellaneous
1. Severability
If any provision or portion thereof of these Terms of Use is held invalid or unenforceable under applicable law, that provision will be invalid only to the extent of such invalidity, without in any way affecting the remaining portions of that provision or the remaining provisions of these Terms of Use.
2. Assignment
You agree not to assign, delegate, transfer or sell any rights, duties or obligations that arise under these Terms of Use. Bazonix may assign these Terms of Use or any rights or obligations hereunder, in whole or in part, without your prior written consent.
3. Waiver of Rights
No failure, delay or omission on the part of Bazonix to give notice of default or to enforce strict performance of any provision of these Terms of Use will be deemed a waiver or future waiver of its right to assert or rely on such provision or any other provision of these Terms of Use. No waiver or breach of any provision will be deemed a waiver of any other provision, and no waiver will be effective unless in writing and signed by Bazonix. No extension of time for performance of any obligation or act will be deemed an extension of time for performance of any other obligation or act.