Contract Recurring Payment
Agreement for the Provision of Services
– It is very important that you read this agreement carefully and that everything in it is clear to you. By signing this agreement, you declare that you understand and agree with its content. You also declare to be aware of the risks.
– The aim of this agreement is to set out the legal relationships and expectations between the parties. A further aim of this agreement is to clarify the services that will be provided.
– This is a relatively new form of service. The sole purpose of this service is to provide insight in specific trades from specialist investors. The service does not include any advice or endorsement for a specific trade. If you are inclined to follow any of the trades, you accept full and exclusive responsibility and liability.
– By signing this agreement, you declare that you are aware the high risks involved with trading cryptocurrencies, and that contractor does not in any way endorses or provides any advice on any trade.
– Contractor will charge a nominal monthly fee for the provided insights in trades and a one time signup fee ($24,-).
– You must be aware that the contractor depends on other parties to fulfil its engagement. If the facilities provided by third parties do not function properly, a situation of force majeure will arise. Also, if you decide to follow any of the provided trades, contractor cannot take any responsibility for the further settlement of that trade. With any trade in cryptocurrency, you accept a high risk of losing assets, including blockchain failures, loss of assets due to mistakes due to the use of wrong addresses and hacking. Hacking may also result in your losing your investment through theft. In general, contractor and all third parties take many precautionary measures against hacking and other malicious practices. By signing this agreement, you declare that you understand and agree to the contractor not accepting any liability for the loss of your investment plus yield; the contractor is also not insured against such an event.
– This introduction is a general summary of the rights and obligations, but also indemnifications (of liability). Please find below an overview, divided into articles and corresponding chapters, of which this introduction is a summary.
Chapter 1. General
Chapter 2. Conversion
Chapter 3. Risks and liability
Chapter 4. Power of attorney
Chapter 5. Other provisions
Chapter 6. Value of investment and statements
Chapter 1. General.
Content of engagement
No result obligation
1.3. There is no result obligation. The client provides no guarantee whatsoever of a yield. A loss of investment is possible.
Duration and cancellation of the agreement
1.4. This agreement is entered for a term of twelve (12) months, after which the term will be tacitly and continuously renewed for a period of twelve months until one of the parties cancels the service.
1.5. This agreement can be cancelled by sending a written letter or e-mail to contractor in which you explicitly state that you want to end the service. This agreement cannot be cancelled within the first twelve (12) months of the agreement.
Termination of the agreement
1.6. In addition to provisions 1.4. and 1.5. the contractor may terminate the agreement if – due to change in applicable laws and regulations – the contractor cannot be reasonably held to continue the service and/or continuing the service might result in violation of any applicable law or regulation.
Terms of agreement
1.7. On this agreement, the general terms and conditions of contractor apply. The general terms and conditions will be attached to this agreement.
1.8. On this agreement, an annex (“Annex 1”) to the general terms and conditions is also applicable. This annex will be attached to this agreement.
1.9. With singing this agreement, you accept both the general terms and condition and its annex (“Annex 1”). You declare that you accept these terms and Annex unconditionally and without reservation.
Chapter 2. Complying with KYC
2.1 Contractor is under legal obligation to comply with KYC (customer verification) and AML (anti money laundering) regulations. In order to comply with these regulations, contractor must verify the identity of the client.
2.2 With singing this agreement, the client accepts that contractor will verify your identity and any further proceedings necessary for contractor to comply with KYC and AML regulations.
2.3 The client undertakes to comply with the KYC rules drawn up by the contractor and for which a procedure has been established, which procedure can be consulted by logging in to https://verifiedcryptotraders.com/member-area. The KYC procedure entails, among other things, verification of address details, and identity check and origin of cryptocurrencies, if necessary.
2.4. The client will provide additional information if such is necessary for the fulfilment of legal obligations of contractor.
Chapter 3. Payment
3.1. The fee mentioned in provision 2.1. must be paid by wire transfer the amount to contractors’ bank account within two weeks after the end of each month.
3.2. If payment has not been received, contractor receives the right to suspend the services.
3.3. if the services are suspended, the client remains under the obligations to pay the fees until the end of the agreement mentioned in provision 1.4 and 1.5.
Chapter 4. Risks and liability
4.1. The value of investments in crypto currency can fluctuate strongly. Results achieved in the past offer no guarantee for the future. Consequently, investing in crypto currency is highly risky and can result in large losses (as described in the introduction to this agreement). The client must ensure that they are able to bear these losses at all times.
By signing this agreement, the client declares:
4.2. The contractor is not liable for direct or indirect damage related to the performance of this engagement. Accordingly, the contractor is not liable for, inter alia, damage, indirect or otherwise, as a consequence of decrease in value and/or losses incurred by client or any other cause, except in cases where, and to the extent such has been established, the damage is a direct result of gross negligence or intent on the part of the contractor in the performance of this agreement. And the contractor is not liable for, inter alia, the (attributable) shortcomings (of the provided facilities) of third parties on which it is dependent for the performance of this agreement. And the contractor is not liable, inter alia, for any damage/consequential damage related to the position to be taken by the contractor.
Chapter 5. Other provisions
Applicable law and choice of forum
5.1. This agreement will be governed by the laws of the Netherlands. Any disputes arising from or relating to this agreement will be submitted to the competent court in Utrecht, the Netherlands.
Amendments to the agreement
5.2. Any deviation from or supplement to this agreement may only be agreed in writing. To the extent that further requirements are imposed on this agreement by or pursuant to international or national regulations, in particular the Dutch Financial Supervision Act (Wet op het financieel toezicht), or an act that supersedes it, or on the instruction of the Supervisory Body, which requirements oblige an amendment of this agreement, any such amendment will automatically form part of this agreement, without the consent of a party to this agreement being required.
Origin of assets
5.3. By signing this agreement, the client declares that their assets do not originate from (illegal) drug trading, money laundering, tax fraud and/or other criminal activities. The client is aware that the contractor might be held to investigate the origin of the assets invested by the client.
5.4. The contractor will process personal data on behalf of the client as part of the performance of the engagement described in this agreement. The contractor will not use the personal data for any objective other than for the engagement. The contractor will act in accordance with the Dutch Data Protection Act and endeavour to protect personal data as effectively as it can. All personal data the contractor receives from the client and/or collects itself within the framework of this agreement is subject to a duty of confidentiality vis-a-vis third parties. The confidentiality obligation does not apply to the provision of information to third parties that is logically necessary given the nature of the engagement and the performance of this agreement, or if a statutory regulation exists that obligates the provision of the information to a third party.
Chapter 6. Value of investment and statements
It should be reiterated that it is extremely important that you read this agreement carefully and that everything in it is clear to you. By signing this agreement, you declare that you understand and agree with its content. You also declare to be aware of the risks of investing in cryptocurrencies.
Annex 1Use of additional services
Article 1 Scope
Article 2 Conclusion of the additional services
2.1. An agreement to provide the additional services referred to in Article 1.3. of the additional terms and conditions shall only be concluded after explicit acceptance of the order by Verified Crypto Group and with due observance of the provisions of Articles 5 and 6 of the General Terms and Conditions.
2.2. Verified Crypto Group shall be entitled to refuse a request to provide the services referred to in Article 1.3 without stating reasons.
Article 3 Risks
3.1. The use of the services referred to in Article 1.3 is entirely at the member’s own risk. The services comprise no more than providing an insight into the commercial transactions of third parties. The member is never obliged to follow such a transaction, to contribute to it or to share in their profits.
3.2. If a member chooses to follow the transaction, this shall be entirely at their own risk. Verified Crypto Group shall not be liable for any loss of assets due to a transaction carried out by the member.
3.3. The services expressly do not provide investment advice. The sole purpose of showing transactions by third parties is to provide the member with insight into transactions that are being executed.
3.4. Verified Crypto Group shall never advise a member to carry out a specific transaction, nor shall any guarantee be given for achieving any financial result.
Article 4 Computerised system
4.1. The services referred to in Article 1.3 are provided via a computerised system.
4.2. The member is aware that the computerised system used for the services has been developed by a third party. The member is also aware that the Verified Crypto Group has very limited influence on the functioning of this computerised system.
4.3. Verified Crypto Group does not in any way guarantee the proper, correct, efficient, stable or reliable operation of the computerised system.
4.4. Without prejudice to the provisions of Article 15 of the General Terms and Conditions of Verified Crypto Group, the use of the computerised system is entirely at the risk of the member.
Article 5 Intellectual property rights
5.1. In addition to Article 14 of the General Terms and Conditions of Verified Crypto Group, the purchase of the services referred to in Article 1.3 of this annex shall not give rise to any intellectual property rights, including all intellectual property rights relating to the development and use of the computerised system with which the services are provided.
Article 6 Privacy
6.1 Articles 19 to 32 of the General Terms and Conditions are applicable to the purchase of the services referred to in Article 1.3.
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Signed by Verified Crypto Traders
Signed On: May 7, 2019
If you have questions about the contents of this document, you can email the document owner.
Document Name: Contract Recurring Payment
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