Terms of Use

Zeb IT Service Pvt Ltd, is a private limited company incorporated under the laws of India and having its registered office at, B-10, Siddhi Vinayak Business Tower, S. G. Highway, Makaraba, Ahmedabad 382210, Gujarat, India.) (herein after referred to as “Company” or “Zebpay”, which term shall refer to and include its owners, directors, investors, employees or other related parties. Persons availing of the Zebpay Services, directly or indirectly, are referred to herein, as “Users”. This is an agreement between Zebpay and User, which together with the Privacy Policy (collectively referred to herein as the “Agreement”) shall be binding on the User. By clicking the “I Agree” button in the Zebpay app, User hereby agrees to be bound by the Terms and Conditions of Service set out hereunder for availing of the Zebpay Services and also the policies mentioned herein and to any modifications, amendments or updating made to the said Agreement.

Zebpay provides inter alia Zebpay Android App, Zebpay iPhone App (collectively “Zebpay App” ) and / or Zebpay website at “www.zebpay.com” (“Zebpay Website”) and / or use of the current or future services, products or any other features, technologies, or functionalities (collectively “Zebpay offers”). Zebpay App, Zebpay Website and Zebpay Offers are collectively referred to hereunder, as “Zebpay Services”. The terms governing such offer of services, the consideration payable, limitations applicable thereto and the representations and warranties of Zebpay are more fully set out herein.

Users are required to read, review, understand and then agree to the terms hereunder for using or availing of the Zebpay Services, by clicking on the “I Accept” option in Zebpay app. By executing this agreement, Users are deemed to have understood the technology behind creation and circulation of cryptocurrencies including “Bitcoins” and are deemed to have expressly given their consent to be bound by the Terms herein, including the representations, warranties and disclosures set out hereunder. Once the terms contained hereunder are accepted by a User, the same shall be binding on the User availing of the Zebpay Services. User shall ensure that no third party uses its account on the Zebpay App or Zebpay Website without executing the terms hereof. Further, in addition to the terms contained herein, Users shall be bound by the terms and conditions governing purchase, sale or trading of Cryptocurrencies including “Bitcoins”, as stipulated by the issuers thereof. Users shall be permitted to avail of the Zebpay Services including the User Account only after reading the terms herein and in the policy documents set out hereunder and after accepting the same.

I LIMITATIONS ON USE OF ZEBPAY SERVICES

a) Zebpay offers a platform for trading in cryptocurrencies. Presently the platform offers trading in Bitcoins. Zebpay is neither the creator nor administrator of any cryptocurrencies including Bitcoins. It merely trades in the same. Zebpay has no control over the generation, distribution, retention (except in its wallets) or termination of cryptocurrencies including Bitcoins. Zebpay does not control market volatility of Cryptocurrencies including bitcoins. It merely acts as an intermediary for the services offered, which are more fully set out hereunder.

b) Zebpay does not provide any warranty of any kind, either express or implied. Zebpay Services and the products offered therein including bitcoins are provided on an “as-is”and “as available” basis. User avails of the Zebpay Services and / or dealing in bitcoins at their own risk and with full disclosure of possible wiping out of the entire holding or valuation in the account of the User, in the event of the occurrence of any of the Risk Factors including but not limited to changes in regulatory or legal position in India or restrictions that may be placed on Zebpay. It is hereby expressly declared that Zebpay offers no warranty of any kind regarding Zebpay App and Zebpay Services.

c) Zebpay Services are strictly available for use only within jurisdictions that permit transactions or trading in cryptocurrencies or where such transactions have not been curtailed. In the event that a User resides in any such jurisdiction where transactions in Cryptocurrencies or in particular Bitcoins is prohibited, Users shall not use Zebpay App and / or Zebpay Services to conduct any transaction in Cryptocurrencies and / or Bitcoins. In the event that such transgression is brought to the notice of Zebpay, the Company shall forthwith cease operation of the Zebpay account by the User and shall extend all cooperation to the enforcement authorities. Users are therefore duly warned against availing Zebpay services, where there is a specific ban against the transactions envisaged and offered by Zebpay. Users shall be solely responsible for ensuring compliance with the above duty and responsibility to follow the laws of the country of residence. Subject to confirmation by the User to be bound by the terms contained herein, Zebpay hereby grants to the User a personal, non-exclusive, non-transferable, non-sub-licensable, and limited right to use Zebpay App and Zebpay Services.

d) Users are hereby duly cautioned that presently in India, Virtual Currencies including Bitcoins, as a medium for payment is not authorised by any central bank or monetary authority of India. The Reserve Bank of India (“RBI”) has issued two circulars in 2013 and again in 2017, cautioning users regarding the risks involved with respect to Virtual Currency. Copies of these circulars are available on the Zebpay Website at www.zebpay.com/legal. Users in India shall therefore avail of the Zebpay services subject to the above caution issued by the Reserve Bank of India.

e) Zebpay may use third party service providers including for rendering some of the Zebpay Services or for facilitating the same. User agrees and confirms consent for collection, use, dissemination and retention by such third parties of the personal and sensitive personal data of User. User shall be bound by the terms of service of such third parties to the same extent as Zebpay would be bound. Zebpay shall however not be responsible or liable for any commissions or omissions by such third parties including with respect to data protection or compliance with applicable laws and regulations with respect thereto.

f) These terms shall be applicable to existing and new Users. Zebpay reserves the right to modify or amend the terms herein and an intimation thereof shall be sent to existing Users, who may decide to opt out of the service. Continued use of the Zebpay Services shall be deemed to amount to confirmation and acceptance of the modified or altered terms hereof.

g) The Parties affirm that the terms set out hereunder signify their mutually agreed terms, supported by just consideration and shall be binding on both parties.

II SCOPE OF SERVICES:

a) Zebpay offers a platform for its registered Users to buy or sell Cryptocurrencies. Presently Zebpay offers its services for buying and selling of Bitcoins.

b) Subject to the conditions set out above, Users may utilize the Zebpay Services to:
i. Send and receive Bitcoins from or to other Zebpay Users or to third parties. Authentication of such third parties is solely the responsibility of User;
ii. Purchase and / or sell Bitcoins; or
iii. Use Bitcoins for purchasing voucher codes, Pay mobile bills, DTH bills and similar services.

c) User shall also ensure that all of the above services are availed of only for legal purposes and through legal means.

III ZEBPAY ACCOUNT

User may open an account with Zebpay subject to the following conditions.
a) Opening of Account
i. User may create an account by first downloading the Zebpay App on his Android smartphone or iPhone by using the Play Store or App Store, as applicable.
ii. Downloading of the Zebpay App and installation thereof shall be subject to the terms contained herein.
iii. User shall comply with the procedures prescribed for opening the account including providing valid and subsisting email address and complete the verification process and providing requisite details and documents.
iv. Zebpay reserves the right to reject validation of an account, if it identifies the jurisdiction to be one amongst those restricting transactions in Cryptocurrencies or in Bitcoins.

b) Data Disclosures & Consent
i. User hereby allows access to and consents to Zebpay availing of and using the personal data of the User including but not limited to:
1. Name; Address; Identification Documents and details contained therein;
2. Mobile Numbers and IP addresses from which the Zebpay Services are being accessed;
3. Identity numbers and details of all equipment utilised to access or avail of the Zebpay Services including Devices from which the Zebpay Services are accessed; the Device numbers, Model and such or other details that may be culled out through automated processes; IMEI, ISMI, Operating System, Device model, RAM and CPU for computers and mobile phones and Unique installation number, iCloud device or email id for Apple products; fingerprinting details and other sensitive personal information required for allowing or completing the transactions envisaged herein;
ii. Zebpay may call upon User to furnish additional details and / or documents, either pursuant to governmental or regulatory compliance or due to modifications in Zebpay terms. User hereby agrees and undertakes to comply with the same within the timelines prescribed.
iii. In addition to the terms contained herein, Users shall be bound by the terms of the Privacy Policy available at www.zebpay.com/privacy-policy.

C) Know Your Customer Compliance:
Only Users complying with the following Know Your Customers (“KYC”) procedures would be allowed to avail of Zebpay Services:
i. Users shall provide the following details and digitized copies of the documents in support of the same, simultaneously with execution of these terms failing which, the account shall not be activated:
1. Name in Full, as in the PAN card / Bank Account;
2. Contact Number;
3. Email Address;
4. Digitized copy of the PAN card;
5. Bank Account Details including the Bank Account Number; Account Holder’s Name in full.
ii. User hereby consents to retention of the above details and documents by Zebpay for its use. Zebpay shall be entitled to retain the above details and documents even of those users, whose registration has been rejected by Zebpay.
iii. Zebpay shall take reasonable care and caution in the collection and retention of the User information, data and documents provided. Zebpay shall comply with the terms of the Privacy Policy available at www.zebpay.com/privacy-policy for collection and retention of User data including sensitive personal information. The Privacy Policy may be periodically reviewed and revised, modified or updated. By accepting the terms herein and by continued use of the Zebpay Services, Users are deemed to have agreed to such revised terms of the Privacy Policy and shall be bound by the same. In the event that a User wishes otherwise, upon compliance with the procedures set out hereunder for termination, User may terminate this Agreement.
iv. Acceptance of the terms herein shall tantamount to acceptance of the Privacy Policy and the terms contained therein. Users are required to read, understand and affirm the Privacy Policy before clicking the “I Accept” button to our Terms of Service.
v. Zebpay may call upon User to furnish additional details and / or documents, either pursuant to governmental or regulatory compliance or due to modifications in Zebpay terms. User hereby agrees and undertakes to comply with the same within the timelines prescribed.
d) VERIFICATION PROCESS:
i. Zebpay shall activate the account upon verification of the details provided under KYC. In the event of factual inaccuracies, Zebpay shall be entitled to forthwith terminate the account without notice to User and User shall not be permitted to use the account or the Zebpay App. Zebpay may seek further documents or details, as per its revised policies or pursuant to Government or Regulatory requirements and User shall be bound to comply with the same. Zebpay shall be entitled to terminate existing accounts for non – compliance of these norms after due notice.
ii. Zebpay may, at its discretion, send to the User intimation of reasons for non-activation of the account. Zebpay is not under an obligation to however notify rejection of activation of new accounts.

iii. Zebpay shall allow only Users with an Indian PAN Card to register and avail of its services. Upon verification, if the PAN Card details furnished are not those issued by in India, Zebpay shall forthwith terminate the account without notice to the User.

iv. Existing Users may be called upon to comply with the KYC and verification process. In the event of termination or deactivation of an existing account, Users shall be duly intimated by Zebpay, along with reasons for such deactivation and the procedures for redress. Delay in termination of such accounts shall not amount to waiver of the above mandatory requirement.

IV TERMS OF PAYMENT

a) Users shall be bound by the policies, rules and User Guidelines prescribed by Zebpay periodically, the terms of which shall form part of these presents.

b) User is hereby cautioned that Zebpay does NOT take payments in cash and has not authorised any person including its employees to accept any payments in cash. User shall not give cash to any person including based on any representation that such person may make with respect to creating an account or depositing the same on behalf of User. User is also hereby cautioned that each account is intended only for the use of a single user. Hence no User shall either offer or accept from another services for investing in Cryptocurrencies including bitcoins through abother User’s Zebpay account.

c) Users are required to conduct all transactions on the Zebpay Services only through duly authenticated bank accounts of the User. All payments shall be made in Indian Rupees (INR) for purchase or sale of cryptocurrencies including Bitcoins on the Zebpay Services. User shall ensure that immediate intimation of payments made, the bank details from which such payment was made and the Zebpay account to which it is to be credited are immediately informed to Zebpay through the Zebpay App. Payments made to Zebpay without furnishing the above details shall be deemed to be “unaccounted” payments and Zebpay shall not be liable for non – accounting or crediting of such sums or of the cryptocurencies including bitcoins to the User Account for the said sum. Zebpay shall also not be responsible for any loss, harm or damage that may be caused to the User due to such non – crediting of the said sum including loss from fluctuations in the price of bitcoins pending verification of the above details or non – purchase or crediting thereof. User shall be solely responsible for ensuring prompt intimation of the above details to Zebpay to ensure immediate completion of the transaction of purchase of Cryptocurrencies including bitcoins. Zebpay shall not take any responsibility or liability for unaccounted for monies deposited to its bank account from unregistered users or from anonymous sources. Zebpay shall be entitled to appropriate such unaccounted payments to its account and User shall forfeit the same if the verification details sought for above are not furnished to Zebpay within Seven Days of the deposit.

d) Zebpay offers the Zebpay Services for consideration in the form of transaction fees, as intimated to User prior to completion of the transaction. User hereby agrees to such payments, on terms set out on the Zebpay Website. All payments due to Zebpay shall be debited from User accounts. All payments to Zebpay shall be in INR save and except for payments made through cryptocurrencies including Bitcoins.

Zebpay has zero tolerance towards use of its Zebpay Services for any illegal purpose. Any such abuse by any User shall result in forthwith termination of the account and reporting of such activities to concerned regulatory and statutory authorities.

a) Users shall be bound by the terms of the Anti-Money Laundering Policy (“AML Policy”) in addition to the terms contained herein. The terms of the AML Policy shall be read as part and parcel of these presents.

b) Users shall ensure that the terms of the AML Policy is strictly complied with. Zebpay shall not allow its Zebpay App and / or Zebpay Services and any future platforms that it might support, to be used for any illegal purpose including for money laundering or the funding of terrorism or any other criminal activities.

c) Zebpay shall report all suspicious activities to the concerned authorities to ensure initiation of investigation and prosecution. Users are therefore strongly cautioned against misuse of the Zebpay Services in any manner for illegal activities.

d) Acceptance of the terms herein shall tantamount to acceptance of the AML Policy and the terms contained therein. Users are required to read, understand and affirm the AML Policy before clicking the “I Accept” button to these Terms of Service. Zebpay may periodically review and revise, modify or update the AML Policy to ensure that it complies with the requisites of applicable Law. By accepting the terms herein and by continued use of the Zebpay Services, Users are deemed to have agreed to such revised terms of the AML Policy and shall be bound by the same. Users who do not wish to abide by the same are not permitted to continue use of the Zebpay Services and the same shall stand terminated upon compliance with the process set out therefor.

e) Zebpay reserves the right to decline or discontinue, as the case may be, any account, at its discretion, with present as well as prospective Users at all times. In the event of any suspicious activity being disclosed or a User is suspected of abusing the Zebpay Services or platform, Zebpay shall have the right but not the obligation to suspend or terminate any account of a User, until a reasonable and satisfactory explanation with supporting documents is provided.

f) Where applicable, intimation of such suspension or termination shall be duly sent to the User and the accumulated monies or Bitcoins in the account of such User shall be duly secured and shall accrue in favour of such User, unless otherwise appropriated by Zebpay towards dues owed to it or is retained pending confirmation from a regulatory or statutory authority or in compliance with an order from a Government Authority or Court. Amounts lying in the accounts of Users suspected of illegal activities or of abusing the platform shall however not be released in favour of such User until the requisite documents and explanations, as set out above are furnished or upon receipt of an order permitting the same from an appropriate Court or Government authority.

VI SUSPICIOUS TRANSACTIONS

a) Users are hereby duly cautioned against use of the Zebpay Services for illegal activities. Any such use or attempt to use Zebpay Services for illegal activities shall tantamount to abuse of the terms of this Agreement, which would result in forthwith termination of this agreement without notice and appropriation of the amounts lying in the User account.

b) Zebpay shall engage the services of nodal officer/s for ensuring compliance with its policies including the AML and KYC Policies (“Nodal Officer”). The Nodal Officer shall also provide all details required by regulatory and statutory authorities.

c) Upon identification of “suspicious transactions”, as stipulated in the AML Policy, or as per the internal vigilance process, the Nodal Officer shall forthwith initiate processes for suspension or termination of the User account and for reporting the same applicable regulatory and/or law enforcement authorities.

d) Zebpay may periodically review, revise, modify or update the KYC and AML Policies including to ensure its compliance with subsisting / new regulations and legal requirements. Amended AML and KYC Policies shall be uploaded on the Zebpay Website and Zebpay shall also intimate User of such amendments. Non-receipt of such intimation shall not exonerate User from complying with the revised AML and KYC Policies. Continued use of the Zebpay Services shall be deemed consent to such revised terms. User shall ensure due compliance with such amended AML and KYC Policies within timeframes prescribed for the same. Failure to do so shall amount to a material breach, which could result in suspension, cancellation or termination of this agreement. User may also opt to terminate the Agreement by following prescribed procedures, in the event that the User does not wish to comply with such revised policies.

VII USER GUIDELINES

a) Users shall ensure strict compliance with the following user guidelines set out hereunder (“User Guidelines”):

i. Users shall ensure that they provide current, accurate, and complete information for opening the account with Zebpay and shall ensure that the same is updated immediately upon change of circumstances and also when prompted by Zebpay to update the same;

ii. User shall not divulge their account details to third parties. Users shall be solely responsible for ensuring the confidentiality and protection of the data pertaining to their account.

iii. Users shall not share their account passwords with third parties;

iv. Users shall not allow third parties to use their account. Each account is intended for the use of a single user, who has registered the account upon due compliance of the KYC norms prescribed.

v. Similarly, User shall only use the account allotted to the User and shall not use third party accounts. A single User shall have only one account and shall not open or maintain multiple accounts;

vi. User shall not directly or through others gain illegal access to any Zebpay account including their own. Failure to follow the procedures set out for accessing one’s own account shall amount to a violation of these terms;

vii. Users shall be fully responsible for all activities that occur under the User’s Account, irrespective of whether the User claims personal knowledge of the same or otherwise;

viii. Users shall utilise the Zebpay services only for the personal purposes and not for commercial purposes;

ix. Users shall use the Zebpay account only for legal purposes and shall not use any part of the Zebpay Services, for or in connection with or to perpetuate or commit any actions, which amount to a violation of any law, statute, ordinance or regulation. Users shall be solely liable for any such illegal activities that they undertake and the consequences arising therefrom including those initiated by Zebpay, as more fully set out hereunder;

x. Without prejudice to the generality of the above, Users shall not use the Zebpay services for any illegal purpose including but not limited to money laundering, terrorism or to fund any illegal act. Users shall also not use or avail of the Zebpay services for converting illegal or wrongful gains including those from criminal activities;

xi. Users shall comply with the IPR policy set out herein and shall not violate the proprietary rights of Zebpay, or of any of third party or of any of the third parties whose products are being offered through Zebpay Services;

xii. Users shall not use circumvention or obfuscating technologies to mask their IP addresses or to hide transaction details;

xiii. Users shall not create or circulate any technologies which violate or which would facilitate other users to violate the terms hereof including for masking IP addresses or to obfuscate transaction details;

xiv. Users shall ensure that true and correct details are furnished to Zebpay including the personal details required for KYC; transactional details and such or other Clarifications the company may require during the subsistence of this agreement;

xv. Users shall not misrepresent, misinform or misguide Zebpay in any manner. Users are hereby duly informed that Zebpay shall share all details with regulatory or legal authorities and the User shall be solely be responsible for the correctness of the contents provided or for legal action for false or incorrect information furnished;

xvi. Users shall avail of the Zebpay services only for legal purposes and shall not use the same for any illegal or criminal activities or in connection therewith or in association thereof.

xvii. User shall ensure that the source of the monies used for purchase or transfer of cryptocurrencies including Bitcoins is through legal means and shall also ensure that all transactions on the account are for legal purposes. Zebpay cannot authenticate or verify the details of Bitcoin transactions through transfer to the account and failure to ensure legality of such transactions shall make the User solely liable for legal action;

xviii. User shall not misuse or abuse the Zebpay Services in any manner. In particular, User shall NOT:

1. Violate these terms or the terms of the policies and guidelines prescribed by Zebpay;

2. Upload or share any information belonging to another person which the User does not have any right to share;

3. Impersonate another person;

4. Upload or share any information that is invasive of another person’s privacy;

5. Upload or share any information that is grossly harmful, harassing, blasphemous, defamatory, libellous, obscene or pornographic;

6. Put forth any information that is hateful, or racially, ethnically objectionable, disparaging;

7. commit any act relating to or encouraging money laundering or gambling;

8. Do any act that is paedophilic or harming minors in any way;

9. Infringe any patent, trademark, copyright or any other proprietary rights of Zebpay or of third parties;

10. Violate any law in India for the time being in force;

11. Deceive or mislead or communicate any information, which is grossly offensive or menacing in nature or about the origin of messages containing such information;

12. Upload any information containing software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource;

13. Do any act that threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognisable offence or prevent investigation of any offence or insult any other nation;

14. Knowingly host or upload any information or initiate the transmission of any information mentioned above from points (ii) to (xiii):

15. User shall take reasonable measures to secure personal devices and information contained on it. User will ensure not circumvent any law in force by changing the technical configuration of personal devices, which has the capability to change their normal course of operation other than what it is supposed to perform.

xix. User shall not induce or entice other persons to avail of the Zebpay services or to open accounts;

xx. Zebpay does not encourage Users to promote or advertise its services. Participation in its referral program is limited to Users sharing their experience with peers and the same should not be to misrepresent or mislead any third parties. Users shall not make any representations or any warranties with respect to Zebpay services to any third parties. Users are not allowed to represent Zebpay in any manner whatsoever and shall be solely liable for any third parties acting on their representations or statements;

xxi. Users shall bear all responsibility for maintaining the confidentiality of their account information, including User Name, password / PIN, safeguarding their accounts including the cryptocurrencies / Bitcoins stored therein; undertaking / implementing reasonable security measures to protect the same from malicious attacks or inadvertent losses and for any activity including transactions that are undertaken from the User Account;

xxii. Zebpay shall take reasonable measures to ensure security of their infrastructure but shall not be responsible or liable for losses arising due to breach or violation of third party infrastructure;

xxiii. User shall be responsible for the confidentiality of the transactions in their account. Users have been duly notified that their transactions are not anonymous and that transaction activity will be shared if called upon by any legal, governmental or regulatory authority;

xxiv. User shall notify Zebpay through “ticket.zebpay.com” immediately upon noticing suspicious activity on the User account or of any unauthorized use of the Account or password, or any other breach of security. Zebpay shall not be liable for loss or damage caused to the User due to failure to notify Zebay in a timely manner;

xxv. Users are cautioned against undertaking any suspicious activity on their accounts. In the event of any suspicious or large transactions being undertaken on a User account, Zebpay shall have the right but not the obligation to verify such activity and if required suspend the transactions or freeze the same, till compliance by the User with authentication processes to Zebpay’s satisfaction. Zebpay shall be entitled to call for transaction details, as it deems fit. Zebpay shall not be liable for either taking such action to suspend or terminate such accounts or for inaction upon initiation of such suspicious activities in a User account;

xxvi. User shall not claim reversal of transactions completed, as cryptocurrency and in particular Bitcoin transactions cannot be reversed;

xxvii. User shall ensure that they do not willfully or erroneously delete, lose or tamper with the Zebpay App in any manner such as to lose the same or the cryptocurrencies stored therein. Such loss or deletion is permanent and cannot be reversed. Zebpay shall not be responsible or liable for loss if any, caused due to such loss or deletion of the wallet;

xxviii. User shall carefully verify before making direct transfers or sale of cryptocurrencies. Any errors resulting in wrong transfers are irreversible. User will not be able to retrive such cryptocurrencies / bitcoins once they are transferred. Zebpay shall not be responsible for effecting any such reversals and will not be liable for loss arising therefrom to User;

xxix. User shall not invest in cryptocurrencies including bitcoins under any assumption of high earnings or profits. Cryptocurrencies being digital assets issued by private entrepreneurs are subject to market risks and volatile pricing, which may even render them worthless. Users are therefore cautioned of the inherent risks involved in procuring cryptocurrencies including bitcoins;

xxx. In the event that any transfers of cryptocurrencies are erroneously credited to the User Account, the User is bound to report the same and to arrange to refund or transfer it to Zebpay or to the rightful owner, as confirmed by Zebpay. Failure to do so would amount to a material breach and in addition to remedies available through court processes, Zebpay shall be entitled to block the such amounts lying in the User Account and debit the same for remedying the erroneous transfer.

b) The above requirements are mandatory to ensure security of the User accounts and to ensure authenticity of the same. Failure to comply with any of the above shall amount to a material breach, which may result in suspension, cancellation and / or termination of the User account and Zebpay shall be entitled to claim loss or damage caused to it due to such material breach by a User.

VIII USER RIGHTS

a) Subject to compliance of the above User Guidelines, User is entitled to the benefits of the Zebpay Services;

b) Zebpay shall take all measures to ensure rendering of its services to User. Zebpay shall however not be responsible or liable for disruption or cessation of Zebpay Services due either to Regulatory, Governmental or Judicial actions or technical issues or due to circumstances beyond their control.

c) Users shall bear all liabilities towards taxes, as applicable. 


IX REPRESENTATIONS AND WARRANTIES

a) Zebpay is not the creator or developer of any cryptocurrency including “Bitcoins”. Zebpay has no control over creation or issuance of any cryptocurrency including “Bitcoins”. Zebpay cannot be held responsible or liable for the fluctuation or volatility of the price of any cryptocurrency including “Bitcoins”. and does not have any control over the price fluctuations in any cryptocurrency including “Bitcoins”. Zebpay does not advise any User to invest or speculate in any cryptocurrency including “Bitcoins” and does not guarantee any returns or profits. Zebpay does not extend any warranties with respect to any of the products or cryptocurrencies which it offers as part of Zebpay services.

b) Users may decide to avail of Zebpay services, subject to the above and the representations and disclosures set out hereunder:

i. Cryptocurrency

1. Cryptocurrencies like “Bitcoins” are merely software that creates a digital asset, which is not regulated by any central authority.

2. The price or value of such cryptocurrency is not set or regulated by any central or governmental authorities.

3. Cryptocurrencies such as bitcoins do not even have an identified creator.

4. Zebpay only offers a platform to users for rendering the Zebpay Services set out herein and performs only the role of an intermediary. Zebpay does not advise purchase or sale of cryptocurrencies including Bitcoins. It does not guarantee returns from any investment or transactions.

5. Users are cautioned against speculative investments in cryptocurrencies, in the light of the above and are directed to avail these services, including purchase or sale of cryptocurrencies or investing therein, upon fully understanding the technology that has created cryptocurrencies and subject to the risks that arise from such an unregulated asset, which only exists in digital form.

ii. Risk Factors

1. Cryptocurrencies being a digital asset are subject to loss, harm or damage arising due to unforeseen circumstances inadvertent errors, offensive attacks, or closure of business;

2. These risks set out herein above include possibility of either servers on which cryptocurrencies are hosted going out of service; or the Zebpay servers becoming dysfunctional; disruption of services; inadvertent deletion of an asset class; offensive attacks including through hacking, virus, denial of service, or technology induced attacks on either the infrastructure hosting the cryptocurrencies or on the user’s personal devices.

3. Cryptocurrencies also run the risk of destruction through unforeseen circumstances i.e., technology induced or other forms of disruptions, which have not come to the fore till date.

4. Bitcoin is an as on date an autonomous and largely unregulated worldwide system of value transfer between individuals. It is not backed by any government or central bank backed currencies. India has issued cautions against dealing in the said cryptocurrency;

5. There is also the risk of loss of confidence in Bitcoin trading, which could collapse demand relative to supply. For example, confidence might collapse in Bitcoin because of unexpected changes imposed by the software developers, the creation of superior competing alternatives, a deflationary or inflationary spiral, or due to governmental actions. Confidence might also collapse because of technical problems, for instance, if the anonymity of the system is compromised, or if any entity is able to prevent any transactions from settling;

6. Trading in Bitcoins requires some effort on the part of the User to ensure that his / her privacy is maintained. Bitcoin transactions are stored publicly and permanently on the network. This means that a users’s balance and transactions is viewable by the public.

7. However, the identity of the user behind a Bitcoin address remains unknown until information is revealed during a purchase or in other circumstances.

8. Users have to therefore full care and precautions to adopt good practices in order to protect their own privacy. Additionally all Users must also be cautious and aware of the following:

a. User should carefully assess whether their financial situation and tolerance for risk is suitable for buying, selling or trading Bitcoins;

b. Zebpay uses banking service providers only for the receipt of client money and making payments. The said banking service providers do not transfer Bitcoins, exchange Bitcoins, or provide any services in connection with Bitcoins;

c. Zebpay does not entertain Refund and Cancellation in any circumstances;

d. Zebpay Website does not store, send or receive bitcoins. Bitcoins exist only by virtue of the ownership record maintained in the Bitcoin network;

e. Any transfer of title in bitcoins occurs within a decentralized Bitcoin network, and not on the Zebpay Website.

iii. Security

1. Zebpay has taken all reasonable efforts to secure its infrastructure. Zebpay however has no control over the infrastructure in which cryptocurrencies are hosted or over the personal devices of users.

2. Cryptocurrencies being a digital asset are subject to known and unknown risks, malicious attacks and inadvertent losses. Such digital assets require very high security measures to be undertaken for protection at all levels, including by the User.

iv. Price

1. Cryptocurrencies are subject to high volatility and price fluctuations. Market forces decide the value of such digital assets and Zebpay cannot be held responsible or liable for price fluctuations or volatility of any Cryptocurrency including bitcoins. There is no guarantee of assured profits to Users from procuring or trading in cryptocurrencies and there is high possibility of heavy losses including the depletion of the entire valuation of cryptocurrencies;

2. There is no guarantee of liquidity of such forms of digital assets;

3. Cryptocurrencies being decentralised with no governmental or regulatory control are high risk investments and users are cautioned against indulging in speculative trading;

v. Legal

1. Engaging in transaction including buying, selling, receiving or retaining cryptocurrencies including “Bitcoin” are subject to local laws of each jurisdiction;

2. Presently in India, RBI has issue 2 circulars dated 24.12.2013 and 01.02.2017 (available on the Zebpay Website at www.zebpay.com/legal, wherein RBI has cautioned users against transacting in cryptocurrencies including “Bitcoin”, pending a decision by the regulator. In the event that the regulator directs, intermediaries including Zebpay will be required to close all accounts and transactions pertaining to cryptocurrencies including Bitcoins. Users are therefore cautioned that any transactions in cryptocurrencies using the Zebpay services are subject to final decision by Government of India and / or its regulatory authorities with respect to the legality of the same.

vi. Irreversible Errors

1. Most cryptocurrencies in particular “Bitcoin” payments are irreversible.

2. Users are cautioned that erroneous or inadvertent transfers of “Bitcoins” (or other cryptocurrencies) cannot be reversed irrespective of the reasons for such error. This is applicable for both direct transfers by User of bitcoins to other bitcoin users or through the Zebpay Services. This is so even if the transfer is to another Zebpay User.

3. User may therefore exercise due care and caution before completing any transaction of cryptocurrencies. Zebpay shall not be responsible or liable for any loss arising from any such transactions by Users.

vii. Privacy

1. Zebpay does not guarantee the privacy of User details or transactions;

2. Whilst Zebpay takes all care and caution to ensure protection of User information, when called upon, Zebpay is mandated to and shall provide details to government or regulatory authorities;

3. Users are therefore cautioned against using any circumventing or obfuscating methods to hide their personal details including IP address and from providing any incorrect or misleading or false details or documents.

c) Zebpay takes best efforts to provide uninterrupted services to its customers but it shall not be responsible or liable for disruptions or cessation of Zebpay Services beyond the control of Zebpay. Zebpay does not give any guarantee for uninterrupted access or against any delay, failure, errors, omissions or loss of transmitted information.

d) Zebpay may suspend use of Zebpay App and Services for maintenance and will take best efforts to give reasonable notice. However in cases of emergency such prior notice may not be feasible and absence of such notice shall not amount to deficiencies of any nature, which User is hereby required to acknowledge.

e) If Zebpay were to cease its operations in the event of change in regulations or law, the same shall not amount to any willful act of deficiency or otherwise and User shall not hold Zebpay responsible or liable for the same.

f) Zebpay does not provide any investment advice in connection with or related to cryptocurrencies including bitcoins. Any data or details including of the value, range, volatility of Bitcoins, and events that may affect/have affected the value of Bitcoins, is for information purpose only. User shall not rely on the same either as advice or inducement to invest in cryptocurrencies or bitcoins. Zebpay will not be liable for any loss suffered by User in connection with any transaction involving any cryptocurrencies including Bitcoins.

X ZEBPAY COVENANTS

a) Subject to compliance by the User of the User Guidelines and the terms contained herein, Zebpay covenants to comply with the following:

i. Zebpay shall continue to render its services to the User. This is subject to orders or directions that may be passed by the Government or RBI or a Court with respect to Cryptocurrencies including Bitcoins;

ii. Zebpay shall take all reasonable security practises to ensure the safety of its infrastructure;

iii. Zebpay shall ensure compliance with requisite laws and regulations;

iv. Zebpay shall take best efforts to secure the rights of the User including the cryptocurrencies in the User accounts.

XI LIMITATION OF LIABILITY

a) Zebay shall not be liable for any loss, harm or damage caused to the User due to discontinuation of any cryptocurrency that is being offered through the Zebpay Services including Bitcoins;

b) Zebpay shall not be liable for any disruption of service, whereby the User is denied access to the cryptocurrencies / Bitcoins, including those stored on the User’s Zebpay account;

c) Zebpay shall not be liable for any loss, harm or damage caused to the User through loss of any cryptocurrency stored on the User’s account for any reason whatsoever, save and except due to a wilful and malicious commission or omission by Zebpay directly resulting in such loss. Zebpay shall not be liable for discontinuation of its services, which is warranted due to Force Majeure or regulatory directions that may be issued with respect to cryptocurrencies;

d) Zebpay shall not be liable for any loss caused to User due to fluctuations in the price of cryptocurrencies. Zebpay does not guarantee profits from sale or purchase or transfers of cryptocurrencies.

e) Zebpay shall be responsible to account for only such services, as is within its control, in the event of termination of this agreement or closure of the Company. This liability is also subject to applicable laws and deductions including towards dues owed to Zebpay or to any government or regulatory authority.

f) Zebpay shall not be liable for any loss, harm, damage caused to User for suspension, cancellation or termination of a User account including for reasons of User violations or in compliance with judicial, regulatory or government orders;

g) User agrees that Zebpay will not be liable to User or to any third party for termination of the User Account or restricting access to the Zebpay Services;

h) User shall not be entitled to any damages for any reason whatsoever including for consequential or compensatory damages against Zebpay for any reasons including suspension, cancellation or termination of the User Account or for cessation of Zebpay Services. The User shall only be entitled to refund / recovery of the amounts credited to the User Account, subject to deductions towards dues owed to Zebpay and other legal, regulatory or statutory dues or those stipulated by a Court of law. In the event that the cryptocurrencies or specifically bitcoins lying in all accounts are seized or Zebpay is unable to access or convert the same into INR for payment to User, Zebpay shall not be held liable or responsible for the same. User is cautioned to avail of the Zebpay Services subject to the above risk. At no point of time will Zebpay, its directors, shareholders, employees, representatives or assigns be held liable for any claims whatsoever for cessation of services or termination thereof. All claims shall be limited to the amounts lying in the account of the User, subject to the abovementioned deductions.

XII THIRD PARTY SITES AND SERVICES

a) Zebpay services offer / may offer third party products, which include transactions in the cryptocurrency named ” Bitcoin”; third party consumer products and services including vouchers for payments for third party service providers or for purchasing products distributed by third parties ;

b) Zebpay may also provide links or other forms of reference to other websites (“External Websites”) or resources over which Zebpay may not have control;

c) Zebpay offers such third party products, services or links to for the sole purpose of enhancing User experience. Zebpay makes no representations whatsoever about any External Websites which User may access through Zebpay or for products or services that a User may avail of through the Zebpay Services;

d) Zebpay does not guarantee or provide any warranty for the quality, sustainability or longevity of any of the products or services. Zebpay’s liability is limited to honouring the monetary value of the vouchers issued to User;

e) The Zebpay App and Zebpay Website may contains third party links, which may lead users to third party content or external websites. Zebpay does not undertake any responsibility or liability whatsoever for any such third party content, including correctness thereof or the security or integrity of the links and content hosted therein;

f) Users are directed to ensure extension of suitable guarantees or warranties by the distributors of products, as Zebpay does not extend any such facility;

XIII FORCE MAJEURE

a) Zebpay services are offered only on the digital domain, which is subject to risks including offensive attacks. Zebpay shall not be liable for any loss, harm or damage caused to the User’s account or the monies or cryptocurrencies accrued therein if the same arises due to Force Majeure including commissions or omissions by third parties, forces of nature, offensive attacks on Zebpay servers or on the personal devices of the users or any loss caused by conditions or events beyond the reasonable control of Zebpay.

b) The above limitation on liability includes any Force Majeure event set out hereunder including acts of god; fire, act of terrorists, act of civil or military authorities, civil disturbance, war, strike or other labour dispute, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond reasonable control of Zebpay; offensive attacks including virus attack, hacking, denial of service attack or theft of the personal devices of the User resulting in loss or damage of the account. The validity and enforceability of any remaining provisions shall not be affected by any such condition.

c) Zebpay shall not be liable for any harm, loss or damage caused to User due to a data breach of confidential information of the User, including of the User account details or User password, including when such breach has occurred due to the User sharing the details with third parties or the User’s failure to follow due diligence. Zebpay shall also not be responsible for disclosure by User of account details including by falling prey by way of a phishing attack.

d) “Force Majeure” shall mean and include any cause arising from or attributable to acts, or events, beyond the reasonable control of Zebpay, including natural calamity, strikes, terrorist action or threat, civil commotion, riot, crowd disorder, invasion, war, threat of or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, structural damage, epidemic or other natural disaster, calamity, attacks including through computer viruses, hacking, denial of service attacks, ransomware or other manmade disruptions or any law, order enactment, statutory direction, legislation, regulation, rule or ruling of government or any court of law or of a Government or regulatory authority.

XIV INDEMNITY

a) User shall indemnify Zebpay, its representatives, Affiliates and their respective directors, officers, shareholders, representatives and assigns (the “Indemnified Parties”) shall indemnify and hold harmless the Indemnified Parties against and in respect of any and all claims, losses, damages, expenses, costs or other liabilities (including attorney’s fees) incurred or suffered by the Indemnified Parties in any manner from or due to any failure or default by the User, to duly perform its obligations under this Agreement and the terms contained herein or due to any material breach by User of the User Guidelines or due to any misrepresentation under this Agreement or in compliance of its terms.

b) Zebpay shall indemnify User and hold harmless against and in respect of claims, losses, damages, expenses, costs or other liabilities (including attorney’s fees) incurred or suffered by the User solely due to any proven willful and malicious act or default by Zebpay. This indemnity is subject to the representations and warranties set out herein above i.e., Zebpay shall not be liable for any claim, action, loss, damage, expenses, costs or other liabilities including attorney’s fees arising out of risks or consequences set out in the representations and warranties herein or for actions initiated by Zebpay against User for suspension, cancellation or termination of the account for any reason. Liability of Zebpay in any event shall be limited to the amounts actually received from the User as consideration. User shall be required to submit proof thereof for substantiating the claim.

c) These provisions shall survive the expiration or termination of this Agreement.

XV INTELLECTUAL PROPERTY RIGHTS (“IPR”)

a) Unless otherwise specified, all materials on Zebpay App and Services are the property of Zebpay and are protected under copyright, trademark and other applicable laws;

b) Users may view, print, and/or download a copy of such Materials on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices;

c) The trademarks, service marks and logos of Zebpay and others used in Zebpay and Services (“Trademarks”) are the property of Zebpay and their respective owners;

d) The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Website belong to Zebpay;

e) User or visitor to our website or any persons using or viewing our Apps are strictly prohibited from copying, reproducing, publishing, republishing, circulating, modifying, uploading, transmitting, collecting and / or distributing the trademarks and materials of Zebpay in any form or by any means, whether manual or automated;

f) Any unauthorized use of such property will be in direct violation of copyright, trademark, and other applicable laws and will result in criminal and / or civil legal actions and penalties;

g) Users shall not reverse engineer or disassemble any aspects of the Zebpay App or Zebpay Services for any reason whatsoever. Any such action shall amount to violation of the Zebpay IPR in and to such software;

h) Zebpay Services includes third party IP including the software used for creating or distributing Cryptocurrencies including Bitcoins. Zebpay does not own any rights to such third party IP and is bound by the license terms for such IP. Users shall also be bound by the license terms and shall violate any third party IP that resides on or is accessible through the Zebpay Services.

XVI Privacy

a) User data furnished to Zebpay shall be subject to the terms of the Privacy Policy of Zebpay, as periodically revised or amended. User is deemed to have consented to the Privacy Policy, by accepting these terms.

b) User hereby consents to the collection, storage, use, sharing and disclosure of User’s personal and sensitive personal information, as per the terms of the Privacy Policy. In the event that the User wishes to retract the consent herein furnished the User may do so by following the process prescribed for terminating this agreement. Consent to the terms herein and those set out in the Privacy Policy are mandatory preconditions for continued use of the Zebpay Services.

c) Confidentiality:

i. User recognises that Zebpay will be given and have access to confidential including sensitive personal information of the User. User hereby agrees and consents to use by Zebpay of such confidential data and information for their commercial use. Zebpay shall take best efforts to keep such information confidential and not to disclose to any third parties except in the course of its business or for marketing, analytical and for processing of such data. This limitation shall however not apply to (a). data already in the public domain; (b). furnishing of data in pursuance of a request from a legal or regulatory authority or order from a Court;

ii. The provisions of this clause shall survive the termination of this Agreement.

XVII Complaints

a. Users may submit their complaints to Zebpay in the form available at ticket.zebpay.com. Such complaints may be either with respect to Zebpay Services or any problems faced by Users in connection with their accounts with Zebpay. Zebpay shall revert, as soon as possible to such complaints.

b. Zebpay will not be able to resolve the following complaints:

i. Reversal of wrongful or erroneous transfers of Cryptocurrencies, including Bitcoins;

ii. Reversal of transfers from User accounts due to any of the Risk Factors set out above including due to hacking, virus attacks, denial of service attacks, ransomware, phishing attacks or other data breaches;

iii. Disruption or cessation of services by any Cryptocurrency creator, developer or distributor;

iv. Any technical problems caused to the User due to reasons beyond the control of Zebpay;

XVIII TERM & TERMINATION

User and Zebpay agree and confirm the following terms for continuation, suspension, cancellation or termination of this agreement.

This Agreement shall come into effect upon confirmation of the terms by the User herein and subsist till termination of the same upon any of the reasons set out hereunder (“Term”).

Zebpay reserves the right to suspend or terminate a User account for the following among other reasons (“Termination”).

Zebpay shall suspend and after verification terminate a User account immediately upon the occurrence of any of the following:

a. Use of the account for suspicious or illegal activities;

b. Failure of User to comply with the KYC norms;

c. Misrepresentations or misstatements by Users;

d. Failure of Users to update KYC details, when called upon;

e. Failure of Users in complying with the User Guidelines set out above or default in complying therewith or willful violation thereof;

f. Violation of the terms hereof or of any of the Policies, Rules and Code of conduct prescribed by Zebpay from time to time, by a User, which is not remedied despite receipt of notice, within the time set out in such communication, for such remedial action;

g. Inactive accounts lying dormant for over six months;

1. In addition to the above the following actions shall give the right but not the obligation for Zebpay to suspend and thereafter terminate the User Account:

1. attempts to gain unauthorized access to Zebpay App and Services or another Member’s account or providing assistance to others’ attempting to do so;

2. Overcoming software security features limiting use of or protecting any content or attempts to initiate such illegal actions;

3. if Zebpay has reasonable apprehension that User may be misusing the Zebpay Services for illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, or if there are unaccounted for income or monies retained in the Zebpay account by the User;

4. Violations of these Terms of Use;

5. Failure to pay dues owed to Zebpay including commissions or refund of erroneous transfer of monies or cryptocurrencies;

6. Undertaking fraudulent transactions by User through the Zebpay Services or unaccounted for transactions or suspicious transactions for which User fails to provide suitable explanation despite service of notice by Zebpay calling for the same;

2. Zebpay may also suspend and thereafter terminate accounts for the following reasons:

a. Technical errors or glitches resulting in suspension of Zebpay Services in part or full;

b. Regulatory, Statutory or Judicial Orders;

c. If continuation of Zebpay Services is difficult or impossible due to technical or operational issues or due to change in the legal, regulatory or statutory provisions;

d. In the event of unexpected operational difficulties arising;

e. Upon receipt of legally sustainable requests from law enforcement or other government agencies;

3. Each of the instances set out above may be invoked to suspend and thereafter terminate this Agreement or to directly terminate this Agreement.

4. In addition to the above, if either party suffers the following disability, this Agreement shall stand automatically terminated if either party (a). becomes insolvent; (b). makes an assignment for the benefit of creditors; (c). files a petition for bankruptcy; (d). takes steps to dissolve or liquidate; or (e). appoints a trustee or receiver for all or any part of its assets.

5. Either Party may also terminate this Agreement at any time upon issuance of prior written notice to the other party informing its intent to terminate.

6. The terms of this Agreement, which by their very nature survive termination of this Agreement shall subsist. Without prejudice to the generality of the above, provisions pertaining to IPR, Confidentiality, Privacy, Governing Law, Dispute Resolution and choice of jurisdiction shall survive termination or cancellation of this Agreement.

7. Process for Termination: Zebpay may terminate the Agreement forthwith for any of the reasons set out above or first suspend the account pending verification and thereafter issue a communication of termination. Each of the instances set out above may be invoked for instantaneous termination or cancellation of the User Account including for misrepresentations or furnishing of false details or documents by User when opening the account; use of the account for illegal or wrongful purposes; violation of any of the User Guidelines set out above; change in the statutory or regulatory provisions or due to an order of Court. User agrees and confirms that Zebpay shall not be held liable for any action taken in good faith for suspension, cancellation and / or termination. The onus of proving bad faith shall be on the User. In any event damages shall not exceed the amounts credited in the User Account, as on the date of suspension, cancellation or termination, whichever is earlier.

8. Consequences of Termination:

a. Upon termination of this Agreement or earlier determination, the following consequences shall ensue:

i. The Zebpay User Account and rendering of the Zebpay Services shall stand immediately terminated. User shall not be entitled to access or use the Zebpay Account or avail of any of the Zebpay Services;

ii. Zebpay shall cease to be liable or responsible to User except to the extent of the amounts in the User account. This liability is also subject to Zebpay being able to convert the cryptocurrencies into INR for disbursement to User. In the event that Zebpay is unable to do so due to legal or regulatory restrictions, User shall bear the loss or damage arising from termination of the Agreement and loss of the cryptocurrencies including bitcoins lying in the User Account;

iii. Parties shall be entitled to the rights and dues already accruing to them.

iv. Zebpay shall be entitled to retain / deduct amounts due to it from the User and transfer or refund the balance lying in the User Account, except when it is unable to do so in compliance with applicable laws. Transfers shall be to any other cryptocurrency account or wallet specified by User and refund shall be in Indian Rupees;

v. User agrees that Zebpay will not be liable to User or to any third party for termination of the User Account or restricting access to the Zebpay Services;

vi. User shall be entitled to recover the amounts lying in the Zebpay account, as on the date of termination, subject to deductions and payments to Zebpay or under law.

vii. Permissions and licenses granted to User under this Agreement shall cease immediately upon Termination of this Agreement and the User shall not be entitled the same in any manner whatsoever;

viii. User shall return to Zebpay any proprietary / IP protected materials or content and / or affirm deletion thereof immediately upon termination of this Agreement.

XIX Accuracy / Reliability of / Liability for Information published on website<

Zebpay does not provide any investment advice in connection with Zebpay Services contemplated by these Terms of Use. While Zebpay may provide information on the value, range, volatility of Bitcoins, and events that may affect/have affected the value of Bitcoins, this is not considered investment advice and should not be construed as such. Zebpay will not be liable for any loss suffered by User in connection with any transaction involving Bitcoins or other Cryptocurrencies.

XIX NOTICES

a. Any notice or other communication provided for in this Agreement shall be sent only through electronic mail. User hereby agrees to receive electronic or any other form of communication and notifications from Zebpay. Email messages sent over the Internet are not always secure and Zebpay is not responsible or liable for non – receipt of such communication by User. Once the email is dispatched by Zebpay, it shall be deemed to have been served on the User. Zebpay shall be deemed to have received communications from the User only upon actual receipt into the Inbox of the account of the person to whom such communication is addressed and acknowledged. Zebpay shall not be liable or responsible for non – receipt of communications or for any damages incurred by the result of sending email messages over the Internet.

b. All communications to Zebpay shall be at: ticket.zebpay.com. Zebpay shall ensure that any change or modification to the same is uploaded on the Zebpay Website.

c. All communications to User shall be at the electronic mail address provided by User, as part of the KYC norms or via in – App messages or SMS to the User’s registered mobile number. User shall ensure that any change in the electronic mail address or communication option is duly intimated to Zebpay.

XX GOVERNING LAW & JURISDICTION

a. This Agreement shall be governed by and construed in accordance with the laws of India.

b. The parties agree to irrevocably submit to the exclusive jurisdiction of the courts in Ahmedabad for the resolution of any disputes arising from this Agreement or in connection therewith or pursuant thereto.

XXI ASSIGNMENT

a. This Agreement or any rights or obligations hereunder shall not be assigned by the Service Provider to any third party without the prior written consent of the Customer. The Customer may assign all or any of his rights without prior intimation or approval of the Service Provider to any third Party.

XXII SUCCESSORS

a. This Agreement shall bind and inure to the benefit of the parties, and their respective successors and permitted assigns.

XXIII SEVERABILITY

a. The invalidity or unenforceability of any provision of this Agreement shall not in any way affect, impair or render unenforceable this Agreement or any other provision contained herein, which shall remain in full force and effect.

b. This Agreement shall be considered divisible as to such provision, which is deemed to be invalid or unenforceable and the remainder of this Agreement shall be enforceable and binding on the Parties.

XXIV WAIVER

a. No provision of this Agreement may be waived or changed except by a writing signed by the party against whom such waiver is sought to be enforced. The failure or omission by either party at any time to enforce or require strict or timely compliance to any provision of this Agreement shall not affect or impair that provision or any other provision in any way or the rights of such party hereof, to avail itself of the remedies it may have in respect of any subsequent breach of that or any other provision.

XXV RECITALS

a. The Recitals, Schedules and Annexures in this Agreement shall form part of this Agreement and the contents thereof shall be read into this Agreement. Headings are for the purpose of easy reference and shall not affect the meaning or interpretation of this Agreement.

XXVI ENTIRETY

a. This Agreement, and the other agreements contemplated hereby, constitute the entire agreement.

XXVII TAXES

a. User shall be solely responsible and liable for ensuring payment of all applicable taxes arising due to or pursuant to execution of these terms or availing of Zebpay Services.

b. Zebpay shall not be responsible for either determining the tax liability of the User or for collecting, reporting or remitting any taxes arising from any transaction.

c. The above is subject to any changes to the statutory or regulatory process under applicable laws.

XXVIII RELATIONSHIP

a. None of the provisions of this Agreement shall be deemed to constitute a partnership between the parties hereto and no party shall have any authority to bind or shall be deemed to be the agent of the other(s) in any way. User shall not misrepresent or mislead or induce any person to avail of Zebpay Services or to invest in any Cryptocurrency including Bitcoins.

XXIX GOVERNMENT APPROVALS

a. This Agreement is subject to confirmation by the Government of India of the legality of dealing in Cryptocurrencies including bitcoins and in the event that the Government of India were to hold such dealing to be invalid or illegal in India, this Agreement shall stand automatically terminated without further notice to User. Zebpay has given full disclosure of the current Government and regulatory status with respect to Cryptocurrencies including bitcoins in India and the risk involved in dealing with or investing in the same. User is deemed to have understood, agreed to and accepted the risk and costs of such investment.

XXX MODIFICATIONS

a. These terms may be periodically reviewed and revised. The revised draft will be uploaded on the Zebpay Website and will reflect the modified date of the terms. User is required to periodically visit the website and review terms and any changes thereto.

b. Continued use of the Zebpay Services constitutes agreement of User to the terms contained herein and any amendments thereto.

XXXI DEFINITIONS

a. “Applicable Laws” means and refers to the laws of India including the Anti – Money Laundering laws contained in the Prevention of Money Laundering Act, 2002 and the Information Technology Act, 2000, as amended and other applicable laws of the land;

b. “Bitcoin” refers to a type of cryptocurrency, whose creator is identified only as “Satoshi Nakamoto” and which is created using open source software. Bitcoin is not issued by any centralised authority or Government but uses “peer-to-peer technology” to operate, manage transactions and ensure authenticity (for more information on Bitcoins, please refer to http://www.bitcoin.org).

c. “Cryptocurrency”, means virtual currencies, which are open instruments usable on any online platform and which may be acquired or disposed off only as a digital transaction.

d. “INR” shall mean Indian Rupees.