C2C is an Bitaiex.com (“Bitaiex”) Peer-to-Peer trading platform, serving users to exchange their local and digital currencies. Users are able to buy and sell Virtual Financial Assets (“VFAs”) on the platform.
The Bitaiex C2C trading platform and services are provided by Singapore MORTON CAPITAL INTERNATIONAL HOLDINGS PTE .LTD
Acceptance and Changes of the Terms
These terms of use (these “Terms”) for the Bitaiex C2C trading platform (“C2C") are subsidiary to and form an integral part of Bitaiex’s Terms of Service.
By accessing and using C2C you agree to be legally bound by these Terms. If You do not agree to be bound by these terms, You agree not to access or use the C2C services.
Please note that these Terms may be updated and modified from time to time. Please visit this page on a regular basis, especially before proceeding with a transaction, and review the current Terms. Once users choose to use the C2C services, they will be deemed to accept any amendments made prior to such use or transaction. We will endeavour to inform you of any changes to these Terms which may have a material effect on your rights and obligations.
Conditions of Access
Users can only use their own account. The platform will not be held responsible for any loss of property caused by granting access of individuals’ accounts to others.
You are responsible for maintaining proper security and controlling all IDs, passwords, personal identification numbers (PINs), or any other code or credentials you use to access the services. You must not sell, borrow, share or otherwise provide your credentials or any other necessary details to access your account. Your account must not contain any misleading or fraudulent information, including but not limited to non-personal telephone number, fraudulent identification information, fraudulent nationality information, or providing fraudulent identification documents.
We may at any time ask you to complete our certification process and may ask you to submit additional identification documents to us when we feel it is necessary. Users will be deemed to violate these Terms if they fail to complete the authentication process or provide documentation when requested.
Orders and Transactions
With a registered account, users are able to buy and sell VFAs.
The system will help you find a counter-party for the VFA transaction to act as buyer when you are selling or as seller when buying.
Once a User initiates a transaction with the identified counter-party the User will be bound by these Terms and the relevant VFA price indicated. After the order matches successfully, the VFA’s price as well as the amount being bought or sold is locked and cannot be changed for this transaction.
Effective payment details must be processed through the C2C trading system. Bitaiex is not responsible for the transaction disputes arising from the payment channels other than the payment method provided by the C2C trading system.
During the whole exchange process, the VFAs involved will be kept by Bitaiex until the purchasing party has made the payment in full. Based on our requirements, the buyer must provide adequate evidence (including payment slip) that the payment has been made within 48 hours upon any trading disputes. If there are reasonable grounds to believe that the buyer has conducted malicious activities, Bitaiex will reserve the rights to notify the seller for a refund. We might also provide buyer information in order to prevent further fraudulent activities. The extent of the disclosure is based on what Bitaiex considers necessary to achieve the above objectives, including but not limited to the contact information of the buyer, the login and transaction records and / or any details and records, along with the buyer’s authentication measures conducted by Bitaiex.
Digital Asset Trading Dispute
If there are any disagreements between the buyer and seller during the trade, either party or Bitaiex can raise a dispute. Any disputed trades will be mediated by an Bitaiex customer service manager. Bitaiex supports dispute resolution by carefully assessing the terms of payment / transaction, the user’s reputation, the data submitted by the user and the relevant provisions of the privacy policy. If the seller does not respond within the time specified by the platform, we will automatically release the VFA(s) to the buyer if we are satisfied that the seller has received valid payment from the buyer. When an order was not performed within a predetermined time slot, it will be removed and the transaction is deemed to have been cancelled.
This decision is final and cannot be disputed, overturned or changed. In the event that fraudulent information or documents were provided during the dispute and/or a false claim was made and /or an attempt was made to force a disputed transaction, the aforementioned actions will be considered as a breach of this agreement.
Monitoring, Suspension and Termination
We use automatic Fraud and Risk modelling when assessing the risks associated with your account and transactions. If we find that your account is at risk of fraud which puts Bitaiex or other customers at risk, we will temporarily limit the use of your account. In extreme cases, we reserve the right to terminate the said account and its services permanently. In addition, we reserve the right to suspend, restrict or terminate the use of your account, as appropriate in the following circumstances:
1.We have reason to believe that the service you use violates local laws or regulations, or you use the service in a fraudulent manner, or violate the purpose or spirit of these Terms;
2.We have reason to believe that you have provided false, misleading or deceptive information during your registration, authentication, trading or any other use of the service, whether for the platform or the counter-party of the transaction;
These are done in compliance with any applicable laws, regulations or orders issued by the authorities. Our rights include freezing your account balance for up to 180 days. However, the freeze might be even longer if it is under court orders and /or other legal procedures /obligations and/or if you have not completed additional authentication measures.