1. General Provisions
1.1 This Agreement specifies the rules of electronic payments exchange provided by WTC Exchange
1.2 Online service is a special resource on the Internet by means of which exchange operations are performed, called WTC Exchange
1.3. clients are both individuals and legal entities who have decided to become WTC Exchange clients
1.4. Hereinafter in the text of this Agreement the User and WTC Exchange will be referred to as Parties.
1.5 Both Parties have agreed that this document in electronic form has the same legal force as the document in written form that defines interaction of the Parties, as a legal entity and an individual, with WTC Exchange service that provides its services.
1.6 This document is a public agreement (contract) in which the User assumes all its obligations by submitting the appropriate online application to provide a certain type of services by the WTC Exchange service.
2. Subject of the Agreement
2.1 WTC Exchange offers a set of services described in clause 4 of this document if the User meets the standard requirements described in clause 9 of this agreement. The rules for these services are governed by the internal regulations of the WTC Exchange Online Resource, described in section 5 of this agreement.
2.2 After signing the Acceptance Act for the services provided by WTC Exchange, the Customer pays for these services in accordance with the requirements of this document.
3. Rights and obligations of the Parties
3.1 WTC Exchange Online Service shall:
3.1.1. according to the rules described in this agreement, convert electronic money, using standard electronic payment systems according to the current agreement;
3.1.2 Provide the Customer with technical and informational assistance as a result of providing the service of currency exchange;
3.1.3 As a result of exchange operations, to observe the protection of Customer data and information about the time, amount of transaction and other data, and to send them to the User at his request. The data on the conducted operations on funds transfer through different payment systems has the status “confidential” and cannot be disclosed;
3.1.4 Not to disclose information about the services of exchange transactions to third parties, except in the following cases
- If there is a valid court order, the location of which coincides with the area where WTC Exchange is located;
- Upon receipt of a request from the legislature or financial monitoring organizations in the area of the WTC Exchange;
- Upon receipt of relevant requests from the partners of payment systems listed in this Agreement.
- 3.1.5 To use the data on the discounts provided to the Customer;
3.1.6. When receiving a complaint from the User, transfer the necessary amount to his personal account or to the account of an authorized person in accordance with paras. 3.2.5, 5.4 and 5.6 of this Agreement within 24 hours.
3.2 User’s obligations:
3.2.1 Provide information about his personal data and specify details for funds transfer;
3.2.2 Provide a valid email address;
3.2.3 Provide notifications by email address. 3.2.4 Provide a valid email address. 3.2.5 Provide the systеm notifications. 3.2.6. Provide use of the Internet via fixed computer systems or other electronic devices. Install a current version of an anti-virus program, which is necessary to work in the WTC Exchange systеm in protected mode;
3.2.4 Follow the requirements of this document;
3.2.5. Inform the WTC Exchange administration in case of full or partial failure to transfer necessary funds to his account or an authorized person’s account. Also report all violations, according to the requirements of clauses 5.4, 5.5 and 5.5 of this document. 5.4, 5.5, 5.6 of this Agreement. Notification of violations of the deadline for transfer operations must be received by the administration of WTC Exchange, not later than one month from the deadline for receipt of funds in the account. If the deadline for submitting the Notice is violated, the disputed funds remain at the disposal of WTC Exchange;
3.2.6. Guarantee that at the time of use of the Online Service he has reached the age of majority, according to the laws of the country where the User is located.
3.2.7 Comply with the requirements of current legislation when performing a transfer operation; 3.2.8 Not use various types of traffic inflations.
3.3. WTC Exchange Online Service has the right to:
3.3.1 While carrying out upgrades or technical works, suspend the service for a period of time;
3.3.2 In case a request is received from partners of payment systems, or a complaint is received from the User about illegal actions of third parties, suspend the transaction until the cause of the complaint is clarified;
3.3.3 Provide discounts on its services at its sole discretion;
3.3.4 Set the amount of commission on exchange operations;
3.3.5 Not to provide the service to the Customer without explaining the respective reason;
3.3.6. If an error has occurred while executing the service related to the exchange, ask the User for the necessary information about such an operation, using the necessary communication resources, such as e-mail, mobile communication, screenshots of the erroneous operation, etc;
3.3.7. cease all interaction with the User in case the User violates the ethics of behavior, including asking questions not related to the operation and not providing the necessary data to the support service;
3.3.8 Suspend the execution of funds exchange operation, referring to clauses. 5.4, 5.5, 5.6 of this Agreement and its Regulations;
3.3.9. In case of impossibility to identify the User, terminate the funds exchange operation and not to return such funds until his identity is clarified; 3.3.10. If the User fails to fulfill his obligations under the requirements of Clause 3.2.7 of this Agreement, the User shall not be entitled to any refund. 3.2.7 of this Agreement, block it, including the corresponding source of transmissions or generator;
3.3.11. In case of unlawful enrichment of the User’s funds while performing an exchange operation in the WTC Exchange systеm or other exchange services, block the operation and stop the application until all the circumstances are clarified, including not refunding the illegally obtained funds.
4. Services provided by WTC Exchange
4.1. WTC Exchange provides services for electronic money transfers via payment systems and banks specified on the website;
5. Regulation of the exchange operation
5.1 Execution of an exchange operation begins immediately after the receipt of electronic money from the Client. If the funds are not received from the Client within twenty minutes after the receipt of the application, the application is suspended by the WTC Exchange service. Further, if funds are received in more than twenty minutes, for example, for cryptocurrency it is ninety minutes, then the application will be executed taking into account the exchange rate in force at the time of receipt of money from the User.
5.2 An exchange operation is considered to be executed, when the funds are fully credited to the Client’s current account.
5.3 After the beginning of the transaction, the Customer has no possibility to suspend it.
5.4 In the case when the amount received from the Client for the exchange operation does not match the amount specified in the application, the administration of WTC Exchange suspends the service or recalculates the operation according to the received funds. In case the operation is blocked, further, as a result of the User’s sending an application in accordance with clause 3.2.5 of this document, the WTC Exchange administration resumes the operation to pay out the corresponding funds taking into account the rate that was in effect at the beginning of the operation.
5.5 If the User has indicated incorrect or invalid bank account details, the electronic money exchange operation stops. Refunds are made after the submission of an appeal by the User in accordance with the requirements of paragraph 3.2.5 of this Agreement.
5.6 If the User changes the notes to the payment or makes a payment from someone else’s account, such a transaction shall be blocked. Refunds as a result of such a transaction shall be made after the submission of a request by the User in accordance with paragraph 3.2.5 of this Agreement.
5.7 If the exchange transaction is made with the help of the bitcoin cryptocurrency, the term of such transaction depends on the conditions of the Bitcoin service. Such a transaction can take at least fifteen minutes and last up to 2-3 days, depending on the Bitcoin service load conditions. WTC Exchange cannot be held liable for the duration of Bitcoin exchange transactions.
5.8 Whenever a refund is made, a fee of 5% will be charged, except for clause 10.6.
6. Responsibility of the Parties and their guarantees
6.1 The service administration is not responsible for any mistakes made by the User while working in the WTC Exchange systеm or incorrectly filling out the application for a money exchange transaction and possible inaccuracies in it, including no refunds and service cancellation if money is credited to an account with incorrect details.
6.2 The administration of WTC Exchange is not responsible for damages and material losses caused by the User, resulting in the inability to use the equipment or its parts.
6.3. WTC Exchange is not responsible for the work of payment systems and banks that caused delays or errors in payments.
6.4 WTC Exchange is not responsible for losses incurred by the User, lost profit, or other expenses caused by a wrong understanding of prices and rates for the services, as well as other subjective factors.
6.5. WTC Exchange is not responsible for losses caused by errors, as well as delays in carrying out electronic transactions and payments.
6.6 The user confirms the legality of exchange transactions and that he is the owner of the funds involved in transactions on legal grounds.
6.7 In case of any losses, direct or indirect, the User guarantees their reimbursement.
7. Terms of information changes
7.1 The administration of WTC Exchange reserves the right to change and supplement the terms of this Agreement at any time. New terms of service come into effect from the moment they are posted on the online resource.
8. Circumstances of force majeure
8.1. In case of force majeure events, which are beyond control of the Parties and which cannot be changed, they are fully relieved of obligations to fulfill conditions of this Agreement, including natural disasters, terrorist acts, fires and wars, as well as hacker attacks, mass disorders of the people, etc. Power failure, absence of Internet connection and other reasons beyond the control of the Parties shall also have the nature of the force majeure.
9. Obligatory conditions of carrying out the exchange operations
9.1 It is forbidden to use WTC Exchange for illegal or fraudulent activities. The User agrees that any illegal operation or action will be sanctioned in accordance with the law in force in the country of the illegal operation.
9.2 In accordance with requests from legislative bodies, partners of other payment systems or a party whose rights are violated, WTC Exchange may provide them with data on the conduct of actions in violation of the law, if their illegality is proved.
9.3 The exchange service is considered terminated, if the User has withdrawn funds from the e-wallet in full, while he is personally responsible for the legal source of their origin. WTC Exchange is not obliged to verify the legality of the source of electronic funds.
9.4 The WTC Exchange administration is not responsible for the actions of exchanging electronic money by the User’s trusted persons.
9.5. After confirming his actions with “I agree to the rules of exchange”, the User accepts all obligations under this Agreement.
10. User Identification
10.1 The User of the WTC Exchange Online Service guarantees readiness to perform personal identification upon the Service’s first request.
10.2 During the process of personal identification the Online Service may request any personal data, in any format and in any amount.
10.3 The Online Service will collect, use and share information about the User in accordance with the Privacy Policy.
10.4 By submitting identification the User automatically gives their consent to the Online Service to perform any research on the User, which the Online Service considers necessary. The Online Service may involve a third party at its sole discretion in these investigations.
10.5 The online wallet addresses of transactions performed on the Online Service are subject to automatic AML verification. The Online Service has the right to request the User identification, if the User’s wallet address indicated in the application has a connection with the following definitions: Stolen Coins, Scam, Ransom, Mixing Service, Illegal Service, Fraudulent Exchange, Darknet Marketplace, Darknet Service.
10.6 In case any connection is confirmed, the funds will be returned to the sender’s details (minus a 10% commission) after the User’s personal identification.
