These Terms and Conditions constitute an electronic agreement between you (hereinafter the “User”) and Bitvalex that applies to the User's use of this website, any and all services, products and content provided by Bitvalex.com.
As used in these Terms & Conditions, “Bitvalex", “Bitvalex.com” is an online platform for buying, selling and exchanging cryptocurrencies with fiat money and is operated by Global xChange OÜ with registration number 14647225 and registered address Pärnu mnt 158/2-88, Tallinn 11317, Estonia. Global xChange OÜ holds licenses FVR000705, FRK000610 for the operation of cryptocurrency wallet and exchange platform issued by the Estonian Financial Intelligence Unit (FIU).
"Bitvalex", "Bitvalex.com" may refer to including without limitation the owners, directors, investors, employees, assignees, affiliates or other related parties. Depending upon the context “BITVALEX" may also refer to the services, products, website, content, or other materials (collectively "BITVALEX Services") provided by Global Xchange OÜ.
By using this website (“Site”), registering for a BITVALEX Account (“Account”) or using any other service provided by BITVALEX, YOU, the USER, agree to accept and comply with the Terms & Conditions of use stated below ("Terms & Conditions"). The USER must read the entire Terms & Conditions carefully before using this Site or any of the BITVALEX Services.
By registering an account, the USER expressly represents and warrants that they have accepted these Terms & Conditions, is at least 18 years of age, and that the laws of their country do not prohibit the use of the services on https://bitvalex.com/. It is the USER’s responsibility to follow the rules and regulations of their country of residence or from which they enter and use the website and/or services offered by BITVALEX.
As long as you agree to and comply with these Terms & Conditions, BITVALEX grants non-exclusive, non-transferable, non-sublicensable, and limited right to enter and use the Site and the Service. Nothing in these Terms & Conditions gives any licence, right, title, or ownership of, in, or to the Site or any of the Services.
IF YOU DO NOT ACCEPT THE TERMS & CONDITIONS OF USE OUTLINED HEREINAFTER, DO NOT ACCESS THIS SITE AND DO NOT USE THE SERVICES OFFERED BY BITVALEX.
1.1. In the present Terms & Conditions the following terms have the meaning indicated below, unless otherwise is stipulated:
1.1.1. Account is a profile registered by a USER on https://bitvalex.com/ and is the functional part of the System that controls User’s Funds and Transactions conducted with them.
1.1.2. Buyer is the User who submits an Order to buy Crypto or fiat currencies through the Platform.
1.1.3. Cryptocurrency means peer-to-peer digital currency that has no central issuer and is distributed directly between the owners of such currency (e.g. Bitcoin, Ethereum).
1.1.4. Deposit means a transaction involving a transfer of Funds, both Crypto and Fiat, to the BITVALEX Account.
1.1.5. Exchange Rate means relation between the amount of Funds and the price offered by the User for orders for exchanging Funds.
1.1.6. Fiat money means government-issued currency that is designated as legal tender in its country of issuance on the legislative level.
1.1.7. Funds means Fiat money or Cryptocurrency.
1.1.8. Order means a User's offer to buy or sell Cryptocurrency for other Cryptocurrency or Fiat money under certain conditions.
1.1.9. Parties means BITVALEX and the User.
1.1.10. Platform is the functional part of the Website where the Users trade with each other.
1.1.11. Seller is the User who submits an Order to sell Cryptocurrencies on the Platform.
1.1.12. Services mean all and any service provided by BITVALEX.
1.1.13. Site (“Website”) means set of information, texts, graphic and design elements, pictures, photo, video and other fruits of intellectual activity, as well as set of computer programs contained in the information system which ensures the accessibility of this information at https://bitvalex.com/.
1.1.14. System means set of software and technical means used by BITVALEX in automatic mode to process operations conducted by the User in his/her BITVALEX Account.
1.1.15. Transaction is the process of transferring, depositing, trading and/or withdrawing Crypto or Fiat currencies by the User to/from his/her BITVALEX Account.
1.1.16. Transaction Fee is a charge which is payable by the User to BITVALEX itself or on behalf of or by any third-party involved for each completed Transaction. The fee schedule can be found at: https://bitvalex.com/fee-schedule
1.1.17. User means an individual or entity formatted in the appropriate legal form according to local legislation that use the Site and/or the System and has agreed to the present Terms & Conditions with BITVALEX.
1.1.18. Wallet is an application allowing the User to store his/her Funds in Crypto and Fiat currency on the BITVALEX Platform.
1.1.19. Withdrawal means a transaction involving a transfer of Funds from the User’s Account to outside the BITVALEX platform.
The titles of the different sections (articles) of the present Terms & Conditions have been put with the only objective to make the text more comfortable for the reader and do not have any literal legal effect.
2.1. By accessing or using the Website, you represent and warrant that you:
2.1.1. are at least 18 years old;
2.1.2. have not previously been suspended or removed from the Website;
2.1.3. warrant that you will not use the Site if the laws of your country prohibit you from doing so in accordance with these Terms & Condition;
2.1.4. have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party;
2.1.5. are the owner of both the Fiat currency and cryptocurrency you deposit to your BITVALEX Account and that they are derived from legal sources.
2.2. If you are registering to use the Services on behalf of a legal entity, you represent and warrant that:
2.2.1. such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and
2.2.2. you are duly authorized by such legal entity to act on its behalf.
2.3. BITVALEX may not make all Services available in all markets and jurisdictions, and may restrict or prohibit use of the Services in certain jurisdictions and to certain individuals, companies and countries that are on prescribed sanctions lists.
3.1. BITVALEX provides an online trading platform that allows USERS (buyers and sellers) to freely trade between a variety of cryptocurrencies (including but not limited to Bitcoin, Ethereum, and Bitcoin Cash) or to trade cryptocurrencies against Fiat money (EUR and USD).
3.2. BITVALEX may also provide a number of additional services, such as:
3.2.1. Crypto Payroll Processing - settlement of payments in Fiat currency
3.2.2. Prepaid Card - stores magnetically (for physical cards) or electronically (for virtual cards) monetary value which can be used for making payment transactions.
3.2.3. OTC Trading Desk - arranges the purchase or sale of large volumes of all supported cryptocurrencies on the Bitvalex platform
3.3. BITVALEX uses third party electronic payment processors and/or financial institutions to process the Fiat deposit and withdrawal transactions made by you and to you in connections with your use of the Services.
4. Account verification
4.1. All users are required to either go through first level Know-your-customer (KYC) verification, second or third level, depending on the services they would like to use. Each level requires a different set of personal information for identification purposes.
4.2. BITVALEX reserves the right to change the KYC verification level of any USER, to deny provision of services or to terminate the provision of services without any prior notice and explanation.
4.3. The USER agrees to provide the required information and documentation, given the respective level of KYC verification. In case the User provides counterfeit documents and false personal information, such behavior will be interpreted as fraud.
4.4. The USER hereby authorises BITVALEX to, directly or indirectly (through third parties), make any inquiries we consider necessary to check the relevance and accuracy of the information provided for verification purposes.
5. Account maintenance
5.1. The User is solely responsible for maintaining the confidentiality of their Account information, passwords, funds, both crypto and fiat, and all transactions that happen on their account and are the one to determine the best way to do so. In case of loss or discrediting the information and/or in cases of unauthorized access to their account by third parties or any suspicious activity, the User must contact the support of BITVALEX at [email protected]. If you do not contact BITVALEX, all transactions made on your User Account will be considered normal activity.
5.2. The User has the right to hold and use only one Account. Having more than one would be considered a violation of these Terms & Conditions.
5.3. Should there be any suspicious activity registered by BITVALEX, BITVALEX reserves the right to request additional information from you, the User, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests or accept suspension of Service provision and/or termination of your Account.
5.4. BITVALEX commits to receiving cryptocurrencies from their Users, safeguarding them, keeping a record of them and processing transactions, requested by the Users.
5.5. BITVALEX also commits to keeping a record of the Fiat money transferred to the Accounts by the Users, but does not keep them. Fiat money are held and Fiat money transfers are executed by third parties (aggregators, banks, payment institutions, among others) and BITVALEX cannot be held liable for the actions of these third parties.
5.6. All Account transactions are carried out at the User’s request. No third party requests for account operations are accepted by BITVALEX.
5.7. All account funds belong to the Account holder (the User). BITVALEX cannot block funds on the account without the request of the User and can only write off funds in the cases mentioned in the present Terms & Conditions.
5.8. BITVALEX does not pay interest on the Funds in the User Accounts.
6. Account Termination
6.1. You have the right to terminate and close your Account at BITVALEX at any time, after settling all pending transactions.
6.2. BITVALEX also reserves the right, in its sole discretion and without any prior notice, to terminate your access to the BITVALEX Site and to your Account and to limit, suspend or terminate service provision to you on suspicion of creating any problems or possible legal liabilities, infringing the intellectual property rights of third parties, or breaching the present Terms & Conditions. Additionally, BITVALEX may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Users for any reason, including without limitation:
6.2.1. Attempts to gain unauthorised access to the Site or another User account or providing assistance to others' attempting to do so;
6.2.2. Overcoming software security features limiting use of or protecting any content;
6.2.3. Usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities;
6.2.4. Failure to pay or a fraudulent payment for Transactions;
6.2.5. Unexpected operational difficulties; or
6.2.6. Upon the request of law enforcement or other government agencies, if deemed legitimate and compelling to do so by BITVALEX, acting in its sole discretion.
6.3. The suspension of an Account shall not affect the payment of Transaction Fees due for past Transactions. Upon termination, Users shall send details of a valid bank account in their name to allow for the transfer of any fiat currencies credited to their account. Cryptocurrencies may also be transferred to a valid bank account only after conversion into a fiat currency. BITVALEX shall transfer the currencies as soon as possible following the User request and within the time frames specified by BITVALEX.
6.4. BITVALEX will send you the credit balance of your Account; however, in certain circumstances a number of intermediaries may be involved in an international payment (such as correspondence banks) and these or the beneficiary bank may deduct charges. We will make all reasonable efforts to ensure that such charges are disclosed to you prior to sending your payment; however, where they cannot be avoided, you acknowledge that these charges cannot always be calculated in advance, and that you agree to be responsible for such charges.
6.5. Upon Account closure, any amount less than USD 5 in value will not be returned.
6.6. BITVALEX reserves the right to not convert Cryptocurrencies into fiat and to return them to a Wallet that belongs to the User.
7.1. By accessing and using any of the BITVALEX services, the USER agrees that he or she is solely responsible for any and all orders, trades, deposits, withdrawals and other instructions entered into their BITVALEX Accounts including identifiers, permissions, passwords, and security codes associated with their BITVALEX Account.
7.2. All buy and sell orders made on the Trading Platform cannot be linked to a specific User by the other Users of the Platform.
7.3. Each purchase or sale of Cryptocurrency is subject to the Exchange Rate for the given transaction. The "Exchange Rate" means the price of a given supported Cryptocurrency in fiat currency or another cryptocurrency as quoted on the Site. The Exchange Rate is stated either as a "Buy Price" or as a "Sell Price", which is the price at which you may buy or sell Digital Currency, respectively. Each fulfilled buy and sell order might be subject to Transaction fees paid to BITVALEX at the time the order is executed and in accordance with the fee schedule.
7.4. BITVALEX represents and warrants that all buy and sell Orders are market Orders. Such orders are executed immediately and cannot be canceled or reversed.
7.5. The User represents and warrants that an Order shall be submitted only after careful consideration, given the irreversible nature of the Transaction once fully or partially fulfilled.
7.6. The User is solely responsible for determining whether any contemplated Transaction is appropriate for them based on their personal goals, financial status and risk aversion.
7.7. BITVALEX cannot be held responsible and/or liable for any malfunction, breakdown, delay or interruption of the Internet connection or any reason why the Site is unavailable at any given time.
7.8. BITVALEX cannot be held responsible and/or liable for the delay in the processing of payments made by the fault of any third parties, operators of such transactions.
7.9. The User is solely responsible for paying commissions and service fees related to deposits and withdrawals made to and from their BITVALEX Accounts. They also assume all the risks that accompany the provision of incorrect bank account details or incorrect Wallet address.
7.10. The User represents and warrants that they will withdraw any Cryptocurrency or Fiat money from their Account only to their own Wallets and bank accounts.
7.11. All funding instruments for deposits and withdrawals – such as bank account, credit or debit card, must be named after the Account holder. Otherwise, it would be considered fraud.
7.12. Unverified Users are not allowed to deposit and withdraw any Fiat money from their Accounts.
7.13. The User acknowledges and agrees that Deposit and Withdrawal Transactions in Fiat currency may be delayed due to e.g. bank verifications and checks. Similarly and due to the inherent nature of the cryptocurrency networks, the User acknowledges and agrees that depositing and withdrawing Cryptocurrencies into/from his/her Account may be subject to delays, barring unforeseen or unavoidable network issues.
7.14. BITVALEX may be forced to cancel or recall already executed Withdrawal Transaction at a request of financial institutions, including but not limited to banks, which are involved in settlement related to deposit and withdrawal of Funds from User`s Accounts. In such cases, the User is obliged to cooperate with BITVALEX in order to discover the reasons for such request.
7.15. All transactions, such as placing an order, calling back an order, fulfilling of order, deposits and withdrawals, are all reflected in the User’s BITVALEX Account.
7.16. The information about the transactions is kept and is available by accessing the User’s account during a period of time determined by BITVALEX.
7.17. Any withdrawals are restricted within 48 hours after 2-Factor Authentication deactivation.
8. Refunds and Chargebacks
8.1. BITVALEX Users have the right to change their mind and get a refund in case they have already funded their account and to request their funds to be returned.
8.2. Every Refund is treated by BITVALEX with reasonable care and skill.
8.3. The Refund Policy does not cover any transactions related to buying and selling cryptocurrencies, it solely concerns funding of the User account. If the deposited funds have been used for any orders, trades, withdrawals, the client is not eligible for a refund.
8.4. Refunds and Returns in excess of the original amount are prohibited.
8.5. All refund requests must be submitted to [email protected] within 48 hours after the transaction is made.
8.6. To prevent fraudulent conduct, all payments and information related to Refund/Return will be thoroughly verified by Bitvalex. BITVALEX may request the User to provide certain documents, including, but not limited to, identification documents, copy of the User’s Payment Card and Invoice or/and any other proof of the fact that disputed payment was made. In case the User fails to provide appropriate documents or information within three (3) days upon request or in case of any doubts as to authenticity of provided documents, BITVALEX shall be entitled to decline the User’s Refund/Return request.
8.7. BITVALEX shall process the User’s Refund requests as soon as possible. Response times will vary depending on stated reasons for the request and on workload. In any case, BITVALEX shall notify the User on the outcome of the request within 15 business days after the last request for additional information or documentation. The refund will be processed within 14 business days from the decision to grant the refund/return.
8.8. BITVALEX expects the Users to contact BITVALEX first to resolve any problem or issue related to his/her payments before the User makes any Chargeback request. The User must contact BITVALEX by sending an email to [email protected]
8.9. BITVALEX will investigate any Chargeback requests made by the User and in response will inform the User’s Issuing Bank whether any Service or Transaction has been cancelled.
8.10. BITVALEX reserves the right to suspend User's account and lock User's Funds during the chargeback investigation procedure.
8.11. Any charges, which arise upon processing Refund/Return/Chargeback, shall be borne solely by the User. Such charges will be deducted from the final amount returned to the User.
9. Intellectual property
9.1. All content on this Site is the property of BITVALEX and is protected by copyright, patent, trademark and any other applicable laws, unless otherwise specified hereby.
9.2. The trademarks, trade names, service marks and logos of BITVALEX and others used on the Site (hereinafter the “Trademarks”) are the property of BITVALEX. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this Site belong to BITVALEX.
9.3. It is prohibited to copy, reproduce, modify, republish, upload, post, transmit, scrape, collect or distribute the Trademarks or any other content on the Site no matter manual or automated, unless it is otherwise intended by BITVALEX, its Site and/or System. The use of any content from the Site on any other site or a networked computer environment for any other purpose is strictly prohibited, unless it is otherwise intended by BITVALEX, its Site and/or System; any such unauthorized use may violate copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties.
9.4. No rights as well as no Site nor System content are committed to the User as a result of Site and System use or on the conclusion of the present Terms & Conditions.
10. Financial or Legal advice
10.1. For the avoidance of doubt BITVALEX does not provide any financial, investment or legal advice in connection with the Services provided by BITVALEX. BITVALEX may provide information on the price, range, volatility of Cryptocurrencies and events that have affected the price of Cryptocurrencies, but it should not be considered as an investment or financial advice and should not be construed as such.
10.2. Any decision to buy or sell Cryptocurrencies is the User’s decision and BITVALEX cannot be held liable for any loss suffered.
11.1. The User undertakes to pay all his/her taxes and duties, which can be resulted from the use of BITVALEX Services and should be paid according to the User’s state of residence regulations.
11.2. BITVALEX does not hold any responsibility for any violation made by the User due to their obligation to calculate and pay taxes and duties.
12.1. The User agrees to pay BITVALEX the Transaction fee for each completed Transaction.
12.2. Prior to trading, the User must consider the Transaction fee rates published on the Fee Schedule page.
12.3. BITVALEX reserves the right to change the Transaction fee rates from time to time publishing updates on the Fee Schedule page.
12.4. The transaction fee may vary and may be different for each individual account. The Transaction fee, other charges, as well as the charge procedure can be changed/reviewed unilaterally by BITVALEX from time to time and such changes shall become effective the moment they are posted on the Site.
13. Prohibited and Illegal Uses
13.1. BITVALEX reserves the right to suspend or terminate any User BITVALEX Account, to report to relevant law enforcement authorities and to confiscate any available funds or cryptocurrencies available in the User account at any time if we reasonably believe to be required to do so by law or in order to comply with recommendations issued by a relevant government authority or recognized body for the prevention of financial crime.
13.2. It is strictly forbidden to use the Account for any illegal purposes. BITVALEX will report any suspicious activity to the relevant law enforcement authorities.
13.3. The User shall ensure that they do not use the Services for any transactions with regards to any services offered by BITVALEX relating to:
13.3.1. money laundering, terrorist financing, proliferation of weapons of mass destruction;
13.3.2. human trafficking;
13.3.3. any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organisations glorifying war or violating human dignity;
13.3.4. any goods or services, promotion, offer or marketing of which would violate copyrights, industrial property rights or other rights of any person;
13.3.5. archeological findings;
13.3.6. drugs, narcotics or hallucinogens;
13.3.7. weapons of any kind;
13.3.8. illegal gambling services;
13.3.9. Ponzi, pyramid or any other “get rich quick” schemes;
13.3.10. goods that are subject to any trade embargo;
13.3.11. media that is harmful to minors and violates laws and, in particular, the provision in respect of the protection of minors;
13.3.12. body parts or human remains;
13.3.13. protected animals or protected plants;
13.3.14. weapons or explosive materials; or
13.3.15. any other illegal goods, services or transactions.
13.4. The USER further agrees not to:
13.4.1. Use BITVALEX services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;
13.4.2. Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access our Services or to extract data;
13.4.3. Use or attempt to use another user's account without authorization;
13.4.4. Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
13.4.5. Develop any third-party applications that interact with our Services without our prior written consent;
13.4.6. Provide false, inaccurate, or misleading information; and
13.4.7. Encourage or induce any third party to engage in any of the activities prohibited under this Section.
14. Availability of services
14.1. All Services are provided “AS IS”, without guarantees of any kind, either expressed or implied.
14.2. Although BITVALEX does its best to keep the Site up and running, all online services suffer from occasional disruptions and outages and BITVALEX is not liable for any disruption or loss the User may suffer as a consequence. Thus, BITVALEX does not provide any guarantees that access to the Site will not be interrupted or that there will be no delays, failures, errors, omissions or loss of transmitted information.
14.3. We will take reasonable endeavours to ensure that the User can normally access the Site in accordance with the Terms & Conditions. BITVALEX may suspend use of the Site for maintenance and will make reasonable efforts to give the User a notice. The User acknowledges that this may not be possible in case of emergencies.
14.4. If BITVALEX is unable to perform the Services outlined in the Terms & Conditions due to Force Majeure events or any other factors beyond our control, change of law or change in sanctions policy, BITVALEX cannot be held responsible to the User with respect to the Services provided hereunder and for a time period coincident with the event.
15. Termination and Discontinuance of services
15.1. BITVALEX reserves the right, in our sole discretion and without any liability to any User of BITVALEX Website or Services, with or without prior notice and at any time, to modify, change, discontinue or terminate, temporarily or permanently, fully or partially any of our Services.
15.2. In the event of termination, BITVALEX will attempt to return any Funds stored in the User Account not otherwise owed to BITVALEX, unless BITVALEX believes you have committed fraud, negligence or other misconduct.
16. APIs and Widgets
16.1. BITVALEX may provide certain parties with access to specific data and information through our API (Application Programming Interface) or widgets.
16.2. BITVALEX also may provide widgets for your use to enter our data on your Site.
16.3. The User is free to use these in their original unmodified and un-altered state.
17. External websites
17.1. The BITVALEX Site may contain external links to third party websites on the Internet network. BITVALEX does not have any control on these external websites and their content is not checked against any criteria whatsoever (e.g. authenticity, completeness, legality etc.).
17.2. BITVALEX is not to be held liable or responsible for any of these external websites, which are linked from the BITVALEX website with regards to the information, expressed opinions, advice or statements, advertising materials, the accessibility and any possible consequences of use of these third parties’ sites, such as damages, losses, failures, and problems. You are solely responsible.
18.1. Sending not encrypted email messages over the Internet network is not secure and BITVALEX cannot be held liable or responsible for any damages, losses or problems that might have arisen as a result of sending or receiving such emails.
19.1. The Terms & Conditions shall be governed and construed in accordance with the laws of Estonia. The parties hereto agree to irrevocably submit to the exclusive jurisdiction of the courts of Estonia.
20. Limitation of liability
20.1. To the extent permitted by law, neither BITVALEX, nor BITVALEX’ directors, members, employees, agents, affiliates, partners in joint ventures, suppliers or distributors will be held liable for any loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, or any indirect, special, exemplary or consequential damages, whether based in contract, tort, negligence, strict liability, or otherwise, arising out of or in connection with authorized or unauthorized use of the BITVALEX site or the BITVALEX services, or the present Terms & Conditions. Please note that some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages so the above limitation may not apply to you.
20.2. BITVALEX does not make any representations or warranties that access to the site, any part of the BITVALEX services, or any of the materials contained therein, will be continuous, uninterrupted, timely, or error-free. BITVALEX makes no representations about the accuracy or completeness of historical Digital Currency price data available on the Site. BITVALEX will take reasonable steps to ensure that requests for electronic debits and credits involving bank accounts, credit/debit cards, and check issuances are processed in a timely manner but BITVALEX makes no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of BITVALEX’ control.
20.3. To the extent permitted by law, BITVALEX or BITVALEX directors, members, employees, agents, affiliates, joint venturers, suppliers or distributors’ aggregate liability for claims under no circumstances, whether in contract or tort (including negligence), should exceed the fees paid by you to BITVALEX in the 12-month period immediately preceding the date of any claim giving rise to such liability.
21.1. By using this Site, you agree to defend, hold harmless and indemnify BITVALEX and its partners (including but not limited to officers, directors, members, employees, agents and affiliates) from any action, liability, cost, expense, claim, loss, demand, damage suffered or incurred due to your indirect or direct use of, or conduct in connection with, BITVALEX websites, BITVALEX services or products, any feedback you provide, your violation of the present Terms & Condition and any other BITVALEX’ policy, or your violation of any rights of any other person or entity.
21.2. If you must indemnify BITVALEX, BITVALEX reserves the right, in its sole discretion, to control any action or proceeding (at BITVALEX expense) and decide whether to settle it or not.
22. Dispute settlement
22.1. The Parties agree to attempt informal resolution prior to any demand for arbitration in order to solve all disputes, differences and claims that can arise out of the execution, termination or cancellation of the present Terms & Conditions.
22.2. The Party that has some claims should send a notification to the other Party describing the arisen claims and/or differences.
22.3. The Party in default on its obligations hereunder shall promptly cure the breach and take due measures to eliminate the consequences. Any dispute arising out of or in connection with these Terms & Conditions (including a dispute regarding the existence, validity or termination of these Terms & Conditions or the consequences of its nullity) shall be referred to and finally resolved in accordance with international legislation, by the International Commercial Court (International Court of Arbitration).
22.4. If any dispute occurs as to the performance or interpretation of the present Terms & Conditions that cannot be resolved amicably or in arbitration the Company is entitled to demand the dispute be settled by the Court in location where BITVALEX resides.
22.5. Whether the dispute is heard in arbitration or in court, you and BITVALEX will not commence against the other a class action, class arbitration or representative action or proceeding.
23. Amendments to the Terms & Conditions
23.1. BITVALEX reserves the right to amend, add, or remove parts of these Terms & Conditions at any time and at its sole discretion. You will be notified of any changes through your Account. Upon such notification, it is your responsibility to review the modified Terms & Conditions.
23.2. Your continued use of the Site following the posting of a notice of changes to the Terms & Conditions signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms & Conditions.
If you have any questions with respect to these Terms & Conditions, your rights and obligations arising from these Terms & Conditions and/or your use of the Site and the Services offered by BITVALEX, your Account or any other matter, please contact [email protected]. We will get back to you in a timely fashion.