Legal & Privacy

In respect of INR/Crypto trading, customers accessing the ZebPay Platform will be contracting with Awlencan Innovations India Limited [CIN no. U72100GJ2018FLC104448], A/367, SAKAR 7 Nehru bridge corner, Ashram Road AHMEDABAD Ahmedabad GJ 380006 INDIA, which owns and operates the ‘ZebPay’ Exchange Platform in India, and shall hereinafter referred to as “Awlencan India”; and

In respect of Crypto/Crypto Trading and wallet services, customers accessing the Zebpay Platform will be contracting with Genie Technologies Pte Ltd [Registration No: 201919382H], 50, Raffles Place, #37-00, Singapore Land Tower, Singapore (048623) which owns and operates the ‘ZebPay’ Exchange Platform in Singapore, andshall hereinafter referred to as Genie

Unless the context requires otherwise, Genie and Awlencan India shall hereafter collectively be referred to as “Awlencan” or “ZebPay” or “Company”, and any reference to the said “Awlencan” or “ZebPay” or “Company” hereafter shall mean Genie or Awlencan India, depending on whether the context pertains to crypto/crypto/Digital Payment Token transactions or INR/crypto transactions respectively.

Definitions and Interpretation

In this agreement the following terms, unless the context otherwise indicates, will have the following meanings:

AML Regulations means India’s Prevention of Money Laundering Act, 2002 and the Rules framed thereunder.

AML Policy means the policies and programs maintained by ZebPay to comply with the AML Regulations.

Business Day means a day that is not a Saturday, Sunday or public holiday in Ahmedabad, Gujarat, India.

Company means Awlencan Innovations India Limited [CIN no. U72100GJ2018FLC104448].

Competent Authority means the relevant government authority in India, as notified or may be notified, depending on the context.

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.

KYC means know your customer requirements as determined by Zebpay or under the AML Regulations.

Privacy Policymeans ZebPay’s privacy policy for Indian customers available at //www.zebpay.com/in/privacy-policy determined by Zebpay or under the AML Regulations.

User or Customer shall mean persons availing of the ZebPay Services (as defined below), directly or indirectly, and are referred to herein as “Users”.

ZebPay Platform shall collectively mean and include ZebPay Android App, ZebPay iOS App (collectively, “ZebPay App”) or Zeb Web app (“Web version”) and ZebPay website “www.zebpay.com” (“ZebPay Website”), ZebPay OTC Trading Platform and other web assets on the ZebPay.com domain, together with the ZebPay Developer Portal, Public APIs and secure authentication for Users;

ZebPay Services means the services made available from time to time on the ZebPay Platform.

Risk Warning

Trading in crypto assets involves a high degree of risk to your capital. Trading in crypto assets may not be appropriate for all investors and you should seek independent advice if necessary. Trading in crypto assets may result in total loss of your investment.

General Information

  1. These Terms of Use form a binding agreement between you (hereinafter known as ‘The Customer or User or You’) and ZebPay as the operator of the ZebPay Platform.
  2. By using any services made available through the ZebPay Platform the Client agrees that the Client has read, understood and accepted all the terms and conditions contained in this Terms of Use agreement as well as our Privacy Policy.
  3. As this is a legally binding contract, the Client is cordially requested to carefully read through this agreement and related notices before using any of ZebPay’s Services.
  4. By registering, accessing or using ZebPay Platform, the Client agrees to the terms and conditions set out in these Terms of Use, and our Privacy Policy.
  5. If any Client disagrees with these Terms of Use or our Privacy Policy, the Client shall not proceed to initiate account registration with ZebPay or seek to acquire any of its services.

Anti Money-Laundering Disclaimer

ZebPay is committed to improve the global fight against money laundering and terrorist financing. In this regard, the Company has endeavoured to carefully ensure all of its internal anti-money laundering procedures comply with AML Regulations.

Agreement Conditions

  1. ZebPay reserves the right to modify or change the terms and conditions in these Terms of Use at any time and at its sole discretion. ZebPay will provide reasonable notice of these changes to Users and will modify or change the terms by updating the Terms of Use.
  2. Any and all modifications or changes to the Terms of Use will be effective on the period mentioned in the notice being provided to Users. As such, Users’ continued use of ZebPay Services, including but not limited to any failure to close your account during the requisite notice period, acts as acceptance of the amended agreement and rules. For the avoidance of doubt, if the User does not agree with any such modification or change, then the User should close the Client Asset Account, withdraw all relevant funds and cease using the ZebPay Platform.

Eligibility

  1. By registering to use a ZebPay’ Client Asset Account, the Client warrants that the Client is an individual that is at least 18 years old, a legal person or other organization with full legal capacity to contract with ZebPay in accordance with these Terms of Use.
  2. If the Client is an individual and is not at least 18 years old, the Client’s legal guardian shall be responsible for all consequences resulting from the Client’s actions on the ZebPay Platform and ZebPay shall have the right to cancel or freeze the Client’s Client Asset Account in addition to filing claims against the Client and the Client’s guardian for compensation/damages.
  3. Each Client shall have one Client Asset Account only. Multiple accounts for the same Client will not be allowed.
  4. Clients who are not either citizens or residents of India are not permitted to use the ZebPay Services.
  5. Clients who are either citizens or residents of the below countries are not permitted to use the ZebPay Services in any form (“Prohibited Jurisdiction Use”)

Democratic People’s Republic of Korea, Iran, Bahamas, Botswana, Cambodia, Ghana, Iceland, Mongolia, Pakistan, Panama, Syria, Trinidad and Tobago, Yemen, Zimbabwe, Cuba

Prohibition of use

By accessing and using the ZebPay Platform, the Client acknowledges and declares that he/she is not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List and its equivalent. You may not use your client account to engage in the following categories of activity (“Prohibited Uses”). The specific types of use listed below are representative, but not exhaustive:

  1. unlawful activity;
  2. fraud;
  3. gambling;
  4. intellectual property infringement; or
  5. defamation or abuse.

The content of these Terms of Use shall not supercede the laws of India. ZebPay maintains its stance that prohibited users as per Clauses 6 and 7 hereinabove are not to use or access the ZebPay Platform for any purpose.

Description of services or business activity

  1. INR/Crypto trading:
    • The crypto asset exchange service is a service accessed through the ZebPay Platform whereby ZebPay provides a trading exchange (crypto asset/fiat). The functionalities available under this service enable Users to trade the crypto assets amongst each other by posting their buy and/or sell orders on the exchange, which ZebPay then further facilitates by providing the matching service that will pair their respective buy and sell orders. The order(s) placed by Users shall remain active for a time period as may be prescribed by ZebPay from time to time, post which ZebPay shall have the right to invalidate the said order(s).
  2. OTC trading platform:
    • The OTC Trading Platform Service is a service accessed through ZebPay’s OTC Trading Platform whereby ZebPay provides an online virtual asset trading platform via a sophisticated mechanism that facilitates over-the-counter trading of crypto assets.
    • Eligible Users access ZebPay’s OTC Trading Platform (by whatever name called) by accessing the URL www.OTC. Zebpay.com and once again signing up with identical details as originally provided by such Users to ZebPay, together with additional details that may be required by the OTC Trading Platform.
    • The User acknowledges and agrees that confirmations received from the User via Telegram and/or other forms of communication authorized by ZebPay’s OTC Trading Platform shall be valid proof of the User’s confirmations of trading activity. Further, the order(s) placed by Users on ZebPay’s OTC Trading Platform shall remain active for a time period as may be prescribed by ZebPay from time to time, post which ZebPay shall have the right to invalidate the said order(s).
  3. When a User utilises any of the ZebPay Services, the User acknowledges that he or she is transacting with other Users of the ZebPay platform as counterparties and bids are matched with a counterparty. In this regard, ZebPay provides the platform to match the orders, and prices are therefore set by the market-forces of supply and demand. Save as aforesaid, ZebPay is not a party to the agreement(s) that arise between the material Users pursuant to these trades.

Provisions relating to both services

  1. The Client must register and open a client account with ZebPay for exchanging crypto assets prior to commencement of trading on the ZebPay platform.
  2. Client may request the withdrawal fiat currency subject to the limitations available at www.zebpay.com/fees-global/
  3. ZebPay strives to maintain the accuracy of information posted on the ZebPay Platform however it cannot guarantee the accuracy, suitability, reliability, completeness, performance or fitness for purpose of the content through the ZebPay Platform and will not accept liability for any loss or damage that may arise directly or indirectly from the content.
  4. Information on ZebPay’s Platform can be subjected to change without notice and is provided for the primary purpose of facilitating Users to arrive at independent decisions.
  5. All Users of the ZebPay Platform must understand that there are risks involved in the usage of the ZebPay Platform. ZebPay encourage all users to exercise prudence and trade responsibly within their own means.
  6. While ZebPay emphasises online interface security to ensure the continuity and security of its services (announcements will be made in event of downtime/maintenance), it will be non-accountable to Users for an act of God, Force Majeure, malicious targeted hacking, terrorist attacks and other reasonably unforeseeable circumstances.
  7. ZebPay reserves the right (but is under no corresponding duty) to cancel, rollback or block transactions of any and all types on the ZebPay Platform in the event of abnormal transactions or based on its internal AML Policy.
  8. ZEBPAY WILL NOT ASK FOR ANY PASSWORD OR PIN FROM ITS USERS EXCEPT WHEN THE USER ATTEMPTS TO LOGIN INTO THE ZEBPAY PLATFORM AND USE ZEBPAY SERVICES. ZEBPAY WILL ALSO NOT ASK USERS TO TRANSFER FUNDS THAT ARE NOT LISTED ON ITS OTC TRADING PLATFORM SERVICE .
  9. By using the ZebPay Platform and ZebPay’s services, the Client declares that all information provided by the Client to ZebPay is true, accurate and complete.

User identity verification

  1. With registration of a client account on ZebPay, the Client agrees to share personal information requested for the purposes of identity verification and other purposes permitted by applicable laws. This information is used specifically to identify the Client and for the detection of potential money laundering, terrorist financing, fraud and other financial crimes on the ZebPay Platform and to ensure that the User and his/her trades are fully compliant with the AML Regulations. ZebPay endeavours to retain and obtain this personal information in accordance with its Privacy Policy and applicable law.
  2. In addition to providing this information, to facilitate compliance with global industry and government standards for data retention, the Client agrees to permit ZebPay to keep a record of such information for the lifetime of the User’s Client Asset Account plus five (5) years after closing that account or the minimum period required by applicable law, whichever is later.
  3. The Client also authorises ZebPay to make inquiries, either directly or through third parties, that are deemed necessary to verify the Client’s identity or to protect the Client and/or ZebPay against financial crimes such as fraud, etc.

Client Funds

  1. All relevant client fiat shall be in ZebPay’s bank account(s), or may be kept separate from money belonging to ZebPay in a client account, if required by applicable law and regulations, until such amounts are returned to the Client, or become due and payable to ZebPay or to other Users in accordance with these Terms of Use or are otherwise paid away or transferred in accordance with applicable law and regulations.
  2. By accepting these Terms of Use, and to the extent not prohibited by applicable law, the Client hereby grants to ZebPay the authority to open and establish a ‘client account’ and the Client agrees to grant the Company the right to control the Client’s assets including crypto assets and client fiat, whether they are held separately in a client account or commingled with other funds of ZebPay.
  3. Pursuant to the right of control referred to in Clause 12(b) hereinabove and to the extent not prohibited by applicable law, ZebPay reserves the right to:-
    • lend out or invest the Client Funds into low risk interest bearing securities; and
    • retain to its own benefit the capital gains, interest or profits that may from time to time be generated from such actions;

    For the avoidance of doubt, the risk of loss which may be occasioned by such lending shall be borne wholly by ZebPay, and ZebPay undertakes to return to Users their deposited crypto assets and/or funds on demand.

Know Your Customer (KYC) and on boarding

  1. ZebPay is required to adhere to KYC requirements. ZebPay may undertake remote KYC procedures and video on boarding, among others.
  2. The KYC procedures may be created or undertaken by any authorised representative of ZebPay (such as a third-party KYC service provider) possessing all the relevant and necessary credentials to conduct the KYC and due diligence in accordance with the AML Regulations and the AML Policy.
  3. The Client is bound to follow all on-screen instructions and adhere to all requirements forthe on-boarding on to the ZebPay Platform.

Authenticity and self-responsibility of identity information

  1. All Users must register for a ZebPay Client Asset Account before using the ZebPay Platform via our standard application procedure. To register for an account, the Client must provide his or her real name, email address and such other requested information including KYC documents.
  2. Depending on certain conditions and in our sole discretion, we may refuse to open an account for you.
  3. Where ZebPay, at its sole and absolute discretion, determines that the applicable law and regulations require Zebpay to report transactions with the Client to a Competent Authority, the Client must obtain and provide ZebPay with any information as ZebPay may require. The Client shall not be permitted to place orders unless and until it has provided the information required, and subject to clearance of the Competent Authority or other authority, as the case may be.
  4. ZebPay is obliged to carry out all the searches and enquiries that ZebPay deems to be appropriate to assess the Client’s identity and/or to carry out any anti money laundering controls which may be required under the AML Regulations or its AML Policy. This information may be also used for the prevention of money laundering or terrorism financing as well as for the management of the client account. The Client authorises ZebPay to use the information to perform the above checks in relation to these Terms of Use.
  5. The identity verification information which may be requested can generally include but not limited to:

Full Name

Email Address,

Telephone Number

Nationality

Government Issued ID

Date of Birth

Proof of address

Bank account details

Photographs and images.

  1. In providing this required information, the Client confirms that it is accurate and authentic. Post-registration, the Client must guarantee that the information is truthful, complete and updated in a timely manner with any changes. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, ZebPay shall have the right to send you a notice to demand corrections, remove relevant information directly, suspend use of the Client Asset Account and, as the case may be, terminate all or part of ZebPay Service to the Client.
  2. The Client shall be solely and fully responsible for any loss or expenses incurred by the Client during the use of ZebPay Service if the Client cannot be reached through the contact information provided by the Client.
  3. ZebPay may or may not accept an application to become a Client in its absolute discretion, including (but not limited to) if the Client fails to pass the relevant appropriateness checks. If the Client application is accepted by ZebPay, the Client shall be notified of the same.
  4. The Client may only start trading with ZebPay on the ZebPay Platform after the initial deposit of funds is credited to the Client Asset Account and such deposit has been cleared.
  5. ZebPay shall be authorised to act upon any digital instructions transmitted by the Client. In this connection, ZebPay shall be entitled to carry out any instructions or orders as per the Client’s instructions.
  6. The Client may request ZebPay to make payments by debiting the Client Funds to the extent cleared funds are available at the time of the request (electronically via the ZebPay Platform)
  7. The initial deposit and any additional funds deposited by the Client (together, Client Deposits) shall be credited to the Client as the case may be.
  8. Any crediting or debiting of client fiat to or from the Client in respect of any transactions on the ZebPay Platform is net of any bank fees, commissions or other charges or costs (including any applicable taxes, including withholding taxes) and you hereby expressly authorise ZebPay to make any such deductions.
  9. All gains, earnings, losses, costs and liabilities made or incurred by the Client under or in relation to any cryptocurrency or any service provided by ZebPay or otherwise in connection with these Terms of Use (including any fees charged by ZebPay) shall be credited or debited to the Client, as applicable.
  10. The Client hereby expressly authorises ZebPay to deduct any such amounts from any client fiat held by ZebPay on the Client’s behalf.
  11. The Client may, at any time, withdraw funds (‘Withdrawn Funds’) from the client fiat by submitting a request to ZebPay (‘Withdrawal Request’). ZebPay may, at its discretion, elect to withhold payment (or deduct an amount from it, as applicable) if:
    • ZebPay is required by applicable law or regulations to deduct or withhold such payment; or
    • there is an unresolved dispute between ZebPay and the Client in connection with these Terms of Use or any related contract in respect of such funds.
  12. ZebPay will only pay Withdrawn Funds to the Client’s registered bank account on the ZebPay Platform.
  13. The Client shall make Client Deposits and submit withdrawal requests to ZebPay using the deposit or withdrawal function on the ZebPay Platform. The Client shall be solely responsible for the safekeeping of the password/ PIN relating to the Client’s account on the ZebPay Platform, and the Client will be responsible for all activities relating to the Client’s login and password/PIN, .
  14. The Client hereby covenants that the Client:
    • will not share his/her login or password/PIN details with any third party;
    • will notify ZebPay immediately if the Client he/she is aware of any unauthorised use of the Client login or password/ PIN by any person or any other violations of the Client’s account;
    • will strictly observe the security, authentication, dealing, charging, withdrawal mechanisms and/or procedures of the ZebPay Platform; and
    • will log out from the ZebPay Platform by taking proper steps at the end of every visit.
  15. ZebPay will not be responsible for any loss or consequences caused by the Client’s failure to comply with the above terms and conditions.

Representations, warranties and covenants of the Client

  1. The Client represents and warrants to ZebPay that:
    • The Client is competent to contract under the Indian Contract Act (1872)
    • The Client has not been adjudged a bankrupt and/or has not entered into a scheme of arrangement with his creditors (if any);
    • The Client’s conduct will not be in violation of the law, public interests, public ethics or other’s legitimate interests,
    • the Client will not evade the payment of taxes or fees and will not violate these Terms of Use and relevant laws and rules;
    • all information supplied by the Client to ZebPay is complete, true, accurate and is not misleading or deceptive in any respect;
    • if the Client is an individual, the Client is at least 18 years old;
    • if the Client is a body corporate, unincorporated association, trust or other legal structure, the Client is validly existing in accordance with applicable law and regulations;
    • the Client has entered into this agreement with ZebPay by means of these Terms of Use, and will enter into any transaction on the ZebPay Platform as a principal and not as another person’s agent or representative;
    • the Client is not subject to any law or regulation preventing it from entering into this agreement or transactions on the ZebPay Platform. In this regard, the Client is not a resident of any other jurisdiction where it may be unlawful to access the ZebPay Platform or trade with ZebPay;
    • the Client has obtained all necessary consents, licenses and authorisations and has full power and authority (in accordance with its constitutional and organisational documents, where relevant) to enter into this agreement and all transactions on the ZebPay Platform;
    • the Client will comply with all laws and regulations to which the Client is subject in relation to this agreement and any transaction contemplated by this agreement including, without limitation, all tax laws and regulations, exchange control requirements and registration requirements;
    • these Terms of Use and any transactions entered into hereunder by the Client create valid and binding obligations which are enforceable against the Client in accordance with their terms including in the jurisdiction in which the Client is resident, and do not violate the terms of any law, regulation, order, charge, agreement or instrument by which the Client is bound or to which the Client’s assets are subject;
    • the Client is fully aware of the financial and other risks involved with trading in cryptocurrencies under these Terms of Use and is willing and financially able to sustain a total loss of funds resulting from the trading and transactions entered into on the ZebPay Platform;
    • the Client has consistent and uninterrupted access to the internet and the email address, mobile number provided to ZebPay during the application procedure;
    • the Client will act in accordance with applicable law and regulations regarding market abuse, manipulation or misconduct, insider trading or dealing and similar offences, as applicable;
    • the Client will not alter, distort or otherwise manipulate the relevant market or underlying in relation to a transaction entered into under this agreement;
    • the Client will promptly notify ZebPay of the occurrence of any event of default or potential event of default or any other breach of this agreement; and
  2. If the Client violates the foregoing promises and/or other terms and conditions of these Terms of Use in any manner resulting in any legal consequences, the Client shall independently undertake all of the legal liabilities in the Client’s own name and indemnify ZebPay from all actions, claims, losses or costs arising from such violation;
  3. The Client will not use any data or information displayed on the ZebPay Platform for commercial purposes without ZebPay’s prior consent.
  4. The Client will use the ZebPay Platform in accordance with these Terms of Use and the Privacy Policy, without taking acts of unfair competition nor attempting to intervene with the normal operation of ZebPay. Examples of such malicious acts include, but are not limited to:
    • using a device, software or subroutine to interfere with the ZebPay Platform;
    • overloading network equipment with unreasonable data loading requests;
    • executing malicious sales or purchases on the market.
  5. By accessing any of the ZebPay Services, the Client agrees that ZebPay shall have the right to unilaterally determine whether the Client has violated any of the above covenants and take action without receiving the Client’s consent or giving prior notice to the Client. Examples of such actions include, but are not limited to:
    • block and close order requests;
    • freezing theclient account;
    • reporting the incident to authorities;
    • publishing the alleged violations and actions that have been taken;
    • deleting any information you published that is in violation.
  6. The Client consents to the ZebPay Platform’s AML and KYC checks and procedures and ZebPay reserves the right to (i) withhold the refund of any monies and crypto assets; and/or (ii)deny access to the ZebPay Platform, before all necessary procedures have been vetted and consent is formally authorised for the Client to access the ZebPay Platform.
  7. Without prejudice to the aforesaid, any client fiat will be ‘frozen’ until the relevant procedures are completed and under no circumstance may they be ‘exchanged’ or ‘withdrawn’.
  8. If the Client’s alleged violation causes any losses to a third-party, the Client shall solely undertake all the legal liabilities in the Client’s own name and hold ZebPay harmless from any loss, fine or extra expenses. If, due to any alleged violation ZebPay incurs any losses, is claimed by any third party for compensation or suffers any punishment imposed by any administrative authorities, the Client will indemnify ZebPay against any losses and expenses caused thereby, including legal fees on a full indemnity basis.
  9. The Client acknowledges and agrees that the above representations and warranties have been a material inducement to the decision of ZebPay to permit the Client to open an account with ZebPay and trade on the ZebPay platform.
  10. In case of any abnormal behaviour, fluctuation or delay in transactions beyond ZebPay’s control, ZebPay shall not be liable to the Client.

Liability

  1. ZebPay will provide access to the ZebPay Platform on an “as is” and “commercially available” condition and to the maximum extent permitted by law does not offer any form of warranty with regards to the ZebPay Platform’s reliability, stability, accuracy and completeness of the technology involved. The ZebPay Platform serves merely as a venue of transactions where cryptocurrency information can be acquired, and cryptocurrency transactions can be conducted.
  2. ZebPay cannot control the quality, security or legality of the cryptocurrencies in any transaction, truthfulness of the transaction information, or capacity of the parties to any transaction to perform their obligations. The Client must carefully consider the associated investment risks, legal status and validity of the transaction information and investment decisions prior to your use of the ZebPay Platform.

Limitation of liability

  1. Release of ZebPay Liability
    • If you have a dispute with one or more users of the ZebPay Platform, you agree that neither we nor our affiliates or service providers, nor any of our respective officers, directors, agents, joint venturers, employees and representatives will be liable for any claims, demands and damages (actual and consequential) of any kind or nature arising out of or in any way connected with such disputes.
    • ZebPay will not be liable for any loss caused to the User due to discontinuation of any cryptocurrency that is being offered through the ZebPay Platform.
    • ZebPay shall not be liable for any disruption of service, whereby the User is denied access to their cryptocurrencies.
    • ZebPay shall not be liable for any discontinuation, alteration, suspension or termination of any part of the services offered on the ZebPay Platform caused or occasioned any Force Majeure event or any change in applicable law with respect to cryptocurrencies.
    • ZebPay shall not be liable for any loss caused to User due to fluctuations in the prices of cryptocurrencies. ZebPay does not guarantee profits from sale or purchase or transfers of cryptocurrencies. ZebPay shall not be liable for any loss caused to User for suspension, cancellation or termination of a User account, including on account of a violation by such User of any of the terms of this agreement, the Privacy Policy or any applicable Law. The User agrees that ZebPay will not be liable to User or to any third party for termination of the User account or for restricting access to the ZebPay Platform, which shall be at the sole discretion of ZebPay.
    • The User shall not be entitled to any damages from ZebPay for any reason whatsoever including but not limited to consequential or compensatory damages for any reasons including suspension, cancellation or termination of the User account or for cessation of any or all services on the ZebPay Platform. The User shall only be entitled to refund / recovery of the cryptocurrencies and client fiat credited to the Client, subject to deductions of amounts owed to ZebPay and other legal, regulatory or statutory dues or those stipulated under applicable Law, and to the permissibility of such refund or recovery under applicable law.
    • In the event that any cryptocurrencies credited to a client account are seized, or ZebPay is unable to access or return the same to User, ZebPay shall not be held liable or responsible for the same. The User is cautioned to avail itself of the ZebPay Platform subject to the above risk. At no point in time will ZebPay, its directors, shareholders, employees, representatives, officers, affiliates or assigns be held liable for any claims whatsoever for cessation of services or termination of any part of the ZebPay Platform or any disruption with respect to access to any Client Asset Account.
    • All claims by a User shall be limited to the cryptocurrencies and fiat standing to the Client’s credit in the relevant client account, subject to the above mentioned conditions.
    • To the maximum extent permitted by law, THE MAXIMUM CUMULATIVE LIABILITY OF ZEBPAY IN ANY EVENT, FOR ANY CLAIM, DAMAGES, TORT SHALL BE LIMITED TO THE MONIES ACTUALLY RECEIVED FROM THE USER, AS CONSIDERATION OR FEES FOR THE SERVICES RENDERED BY ZEBPAY IN RELATION TO THE APPLICABLE TRANSACTION TO WHICH THE CLAIM RELATES. IF THE CLAIM DOES NOT RELATE TO ANY TRANSACTION IN PARTICULAR, THEN ZEBPAYS MAXIMUM CUMULATIVE LIABILITY SHALL BE LIMITED TO THE CRYPTOCURRENCIES ACTUALLY RECEIVED FROM THE USER, AS CONSIDERATION OR FEES FOR THE SERVICES RENDERED BY ZEBPAY IN RELATION TO THE TWO TRANSACTIONS IMMEDIATELY PRECEDING THE DATE ON WHICH THE CLAIM IS MADE BY THE USER .
  2. No Liability for Breach

    ZebPay will not be liable for any breach of these Terms of Use, where the breach is due to abnormal and unforeseeable circumstances beyond ZebPay’s control, the consequences of which would have been unavoidable despite all effects to the contrary, nor is ZebPay liable where the breach is due to the application of mandatory legal requirements.

  3. Limitation of loss

    In addition to the liability cap above, in no event shall ZebPay, its affiliates or its service providers, or any of its or their respective officers, directors, agents, employees or representatives, be liable for any of the following types of loss or damage arising under or in connection with this agreement or otherwise:

    • any loss of profits or loss of expected revenue or gains, including any loss of anticipated trading profits and / or any actual or hypothetical trading losses, even if we are advised of or knew or should have known of the possibility of the same;
    • any loss of or damage to reputation or goodwill; any loss of business or opportunity, customers or contracts; any loss or waste of overheads, management or other staff time; or any other loss of revenue or actual or anticipated savings, even if we are advised of or knew or should have known of the possibility of the same;
    • any loss of use of hardware, software or data and / or any corruption of data; including but not limited to any losses or damages arising out of or relating to any inaccuracy, defect or omission of digital currency price data; any error or delay in the transmission of such data; and / or any interruption in any such data;
    • any loss or damage whatsoever which does not occur directly from our breach of this agreement; and/or
    • any loss or damage whatsoever which is in excess of that which was caused as a direct result of our breach of these Terms of Use (whether or not you are able to prove such loss or damage).

Indemnification

The Client agrees to indemnify and hold harmless ZebPay, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims and damages (including legal fees, fines or penalties imposed by any regulatory authority) arising out of the Client’s breach or our enforcement of this agreement or (including with limitation your breach of the Privacy Policy, AML Policy or any other restrictions on use of ZebPay services) or your violation of any law, rule or regulation, or the rights of any third party . This shall also apply to the Client’s violation of any applicable law, regulation, or rights of any third party during your use of the ZebPay Services.

Termination of this agreement

  1. The Client agrees that we have the right to immediately suspend the Client Asset Account (and any accounts beneficially owned by related entities or affiliates), freeze or lock the funds in all such Client Asset Accounts, and suspend access to ZebPay if we suspect any such Client Asset Accounts to be in violation of these Terms of Use, Privacy Policy, AML Regulations acts or any applicable laws and regulations.
  2. Pursuant to certain AML regulations and other applicable laws, ZebPay reserves the right to keep and use the transaction data or other information related to such Client Asset Accounts for up to the longer of: five (5) years or the time period required by applicable law following the termination of this agreement, and for the following purposes:-
    • if the client account is subject to a governmental proceeding, criminal investigation or other pending litigation;
    • if ZebPay detects unusual activity in the client account;
    • if ZebPay detects unauthorized access to the client account;
    • if ZebPay is required to do so by a court order or command by a regulatory/government authority;
    • in the event of a suspected breach of these Terms of Use;
    • in the event of a suspected criminal event, including but not limited to money laundering, terrorist financing, and fraud;
    • in the event the use of your client account is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your account activity;
    • you take any action that may circumvent our controls such as opening multiple accounts or abusing promotions which we may offer from time to time;
    • if a transaction is unfinished during the account termination process, ZebPay shall have the right to notify the Client’s counterparty of the situation at that time
  3. In case of any of the following events, ZebPay shall have the right to directly terminate this agreement by cancelling the Client’s Asset Account, and shall have the right to permanently freeze (cancel) the authorisations of the Client’s Asset Account and withdraw the corresponding Client account:
    • after ZebPay terminates services to the Client,
    • the Client allegedly registers or registers in any other person’s name as ZebPay user again, directly or indirectly;
    • the main content of user’s information that the Client has provided is untruthful, inaccurate, outdated or incomplete;
    • when these Terms of Use are amended, the Client expressly states and notifies ZebPay of the Client’s unwillingness to accept the amended Terms of Use;
    • any other circumstances where ZebPay deems it should terminate the services to the Client.
  4. Subject to clause 20(f), once the client account is closed/withdrawn, all charges and liabilities owed to ZebPay on the account will be due and payable to ZebPay. Upon payment of all outstanding charges to ZebPay (if any), the User will have to immediately withdraw all the balance funds from the account.
  5. ZebPay maintain full custody of the funds and user data/information which may be turned over to the authorities in event of account suspension/closure arising from fraud investigations, AML investigations or violation of the law or ZebPay’s Terms (e.g. trading on ZebPay from a sanctioned country).

Compliance with Local Law

  1. It is the responsibility of the User to abide by local laws in relation to the legal usage of ZebPay Services in their local jurisdiction. Users must also factor, to the extent of their local law all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities.
  2. All users of the ZebPay Platform and any of its services acknowledge and declare that the source of their funds come from a legitimate manner and are not derived from illegal activities. ZebPay maintain a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate the Client Asset Account and funds of Users which are flagged or investigated by legal mandate.

Force Majeure

  1. 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 caused to the User’s account or the monies or cryptocurrencies accrued therein if the same arises due to any Force Majeure event, including commissions or omissions by third parties, forces of nature, offensive attacks on ZebPay servers or on the personal devices of the Users, changes in applicable law, or any loss caused by conditions or events beyond the reasonable control of ZebPay.
  2. 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 to the account.
  3. To the maximum extent permitted by law ZebPay shall not be liable for any loss 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 such details with third parties or due to the User’s failure to follow reasonable due diligence. ZebPay shall also not be liable or responsible for any disclosure by User of any User account details, including on account of a phishing attack or other third-party disruption.

Privacy and Confidentiality

  1. ZebPay processes all personal information in accordance with applicable law and regulations relating to the processing, privacy, and use of personal information.
  2. ZebPay may collect, hold and process personal information about the Client from the way in which the Client engages with ZebPay (such as by filling in the application, placing orders, or if the Client contacts ZebPay by post, email, telephone, in person or by any other means), through the Client’s interactions with ZebPay and/or the ZebPay Platform.
  3. Details of the types of personal information which ZebPay collects, holds or processes are set out in ZebPay’s Privacy Policy available at www.zebpay.com/in/privacy-policy,
  4. ZebPay relies on the following legal basis to process and use the Client’s personal information:
    • processing is necessary for the performance of the ZebPay Services provided to the Client under this agreement;
    • processing is necessary for the purposes of ZebPay’s legitimate business interests, including administering the relationship with the Client and/or analysing, improving and developing its trade, products and services. [For a more detailed overview of the legitimate business interests of ZebPay’s please refer to the relevant section of the aforesaid Privacy policy]; and
    • processing is necessary for compliance with a legal obligation to which ZebPay is subject as better identified in ZebPay’s Privacy Policy.
  5. The Client’s personal information may be disclosed to service providers and other suppliers (including those outside of Singapore) provided that any such transfer or access is compliant with the Personal Data Protection Act 2012 and is subject to appropriate contractual provisions relating to data protection and confidentiality. Further details as to where the Client’s personal information may be transferred or accessed and the basis for such transfers are set out in the Privacy Policy.
  6. ZebPay has security procedures covering the storage and disclosure of the Client’s personal information to prevent unauthorised access of any Client personal information and to comply with the Personal Data Protection Act 2012.
  7. Neither party may disclose to any person any information relating to the business, investments, finances or other matters of a confidential nature of the other party of which it may come into possession in connection with this agreement and its performance by the other party, and each party shall use all reasonable endeavours to prevent such disclosure, except as may be required by any applicable law, rule or regulatory, law enforcement or tax authority.
  8. For the avoidance of doubt, ZebPay may be required to disclose information to third parties in order to carry out fraud-checks and for KYC procedures, and the Client expressly consents to such disclosure.

Complaints

If the Client has any complaints, feedback or questions, the Company may be contacted via support@ZebPay.com and we will in our best efforts try to resolve the issue with expediency. ZebPay shall not provide any support services to walk-in users.

Method of payment

Any payment to be made under these Terms of Use must be made by one of the following methods:

  1. a bank draft or a bank cheque;
  2. by credit of cleared funds to the bank account specified by the payee at least 3 Business Days before the anticipated date of the payment; or
  3. any other lawful form of payment that the parties agree in writing.

Notices

  1. Unless these Terms of Use expressly state otherwise, a notice, consent, approval, waiver or other communication (notice) in connection with this agreement must be in writing. A notice may be given by hand delivery, prepaid post, or by electronic message to the recipient’s physical address or email address as advised from time to time.
  2. A notice given under this clause will be deemed to be received:
    • if hand delivered, at the time of delivery;
    • if sent by prepaid post, three Business Days after the date of posting;
    • if sent by electronic message, when the sender receives an automated message confirming delivery or eight hours after the message has been sent (as recorded on the device from which the sender sent the message) unless the sender receives an automated message that the electronic message was not delivered or the sender knows or reasonably should know that there is a network failure and accordingly knows or suspects that the electronic message was not delivered,

unless a notice is received after 5.00 pm on a Business Day in the place of receipt or at any time on a non Business Day, in which case, that notice is deemed to have been received at 9.00 am on the next Business Day.

Assignment

The User may not assign or otherwise deal with any of its rights or obligations under these Terms without the prior written consent of ZebPay. However, ZebPay may, without the consent of the User assign its rights under this agreement in the case of the sale of all or part of the ZebPay Platform.

Waiver

No failure to exercise or delay in exercising any right given by or under this agreement to a party constitutes a waiver and the party may still exercise that right in the future.

Waiver of any provision of this agreement or a right created under it must be in writing signed by the party giving the waiver and is only effective to the extent set out in that written waiver.

No warranty or representation

By giving its approval or consent about any matter dealt with in this agreement, a party does not make or give any warranty, representation or undertaking about any circumstances relating to the subject matter of the consent or approval.

Severability

If any provision of this agreement is void, voidable by a party, unenforceable, invalid or illegal and would not be so if a word or words were omitted, then that word or those words are to be severed and if this cannot be done, the entire provision is to be severed from this agreement without affecting the validity or enforceability of the remaining provisions of this agreement.

No merger

On completion or termination of the transactions contemplated by this agreement, the rights and obligations of the parties set out in this agreement will not merge and any provision that has not been fulfilled remains in force.

Further steps

Each party agrees to promptly do all things reasonably necessary or desirable to give full effect to these Terms of Use, including obtaining consents and signing documents.

Time is of the essence of these Terms of Use.

Entire agreement

These Terms of Use contain the entire agreement between the parties about the subject matter hereof, and supersede all previous communications, representations or agreements between the parties on the subject matter.

Governing law and jurisdiction

  1. These Terms of Use are governed by the laws of India.
  2. The parties submit to the non-exclusive jurisdiction of the courts of Ahmedabad, Gujarat, India, in case of any disputes that may arise in respect of, or relating to these Terms of Use.