Terms of Service and Usage

CoinFlip Terms of Service

Last Updated and Effective Date: 22 January 2024

Please read the terms of service (“Terms”) carefully as they form a binding legal agreement between you (collectively “You”, “Your” or “Yourself”) and CoinFlip South Africa Proprietary Limited (“CoinFlip”, “Company”, “We”, or “Us”).  These Terms govern the use of any CoinFlip websites, mobile applications (“App”), bitcoin ATM/digital currency kiosks (“Kiosks”), Software, digital currency wallet (“Company Wallet”), and related services (“Services”).  For the sake of clarity, “Services” refers to any service or product offerings by the Company used by You even if not listed in the previous sentence.  By using or interacting with the Services, You represent that (1) You have read, understand, and agree to be bound by the Terms; (2) You are of legal age to form a binding contract with Company; and (3) You have the authority to enter into the terms personally or on behalf of the legal entity for whom You are using the Services.  The term “You” or “Customer” refers to You individually or the legal entity on whose behalf the Services are used.  Our Services are also governed by our Privacy Policy. In addition, when using certain Services, You will be subject to any additional terms applicable to such Services. If You do not agree to be bound by the Terms or do not agree with our Privacy Policy, You may not access or use the Services.

We are always looking for ways to help keep You even more secure.  As such, always use common sense when transacting in cryptocurrency and look out for scams.  If someone is pressuring You to purchase cryptocurrency or send them cryptocurrency, it is likely a scam.   If someone specifically directs You to send them cryptocurrency using our Kiosks or Services, it is likely a scam.  If someone directs You to use a digital wallet address or QR code they have sent You, it is likely a scam.   Remember, all transactions are irreversible and non-refundable. 

Only send cryptocurrency to Yourself and not others.  Only send cryptocurrency to a digital wallet owned by You.  Never send cryptocurrency to someone You don’t know or haven’t met in person, including someone You have met on social media or who calls You unexpectedly.

By agreeing to these Terms, You attest that You are not using the Services because of a phone call, email, text or computer prompt You received from anyone else, including the Company, or regarding a utility bill, Social Security, warrant, bail money, mail or courier package, Fire Marshall/Police/I, bail money, a romantic interest, someone You have not met in person, Microsoft, a bank, Your employer, etc.  

PLEASE READ THESE TERMS OF SERVICE CAREFULLY, AS THEY CONTAIN AN AGREEMENT TO ARBITRATE AND OTHER IMPORTANT INFORMATION REGARDING YOUR LEGAL RIGHTS, REMEDIES, AND OBLIGATIONS. THE AGREEMENT TO ARBITRATE REQUIRES (WITH LIMITED EXCEPTION) THAT YOU SUBMIT CLAIMS YOU HAVE AGAINST US AND OTHER INDEMNIFIED PARTIES TO BINDING AND FINAL ARBITRATION, AND FURTHER (1) YOU WILL ONLY BE PERMITTED TO PURSUE CLAIMS AGAINST US AND INDEMNIFIED PARTIES ON AN INDIVIDUAL BASIS, NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY CLASS OR REPRESENTATIVE ACTION OR PROCEEDING, (2) YOU WILL ONLY BE PERMITTED TO SEEK RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ON AN INDIVIDUAL BASIS, AND (3) YOU MAY NOT BE ABLE TO HAVE ANY CLAIMS YOU HAVE AGAINST US RESOLVED BY A JURY OR IN A COURT OF LAW.

Table of Contents

Your Account

To access some features of the Services, You may be required to create an account (“User Account”) with Us or with a third party that operates that portion of our Services.  If You create an account with such a third party, their terms of use and privacy policy will apply to Your use of the account in addition to these Terms and our Privacy Policy.

You must be at least 18 years of age to register for a User Account, and by registering You represent and warrant that You are eligible for a User Account under this provision. 

When creating an account, You agree that all account registration information, including any documentation such as Your state-issued identification, You submit will be Your own, true, and accurate.  We reserve the right to refuse account registration for any reason which is legal. A Customer’s account is tied to the Customer’s mobile phone number, email address, and identification. A Customer may only be able to access the Service using the email address and mobile phone number first provided to the Company.

This is an individual account. You may not jointly own or share Your account with any other person for any reason and You are responsible for maintaining the confidentiality of Your password. You may not allow any other person to conduct a transaction using Your account or identity for any reason, or use any other person’s account or identity to conduct a transaction, even if they permit You to do so. You may not assign or transfer Your account or any interest in Your account to any other person. You agree to notify Us immediately, as set forth in the Contact Us section below, of any unauthorized use of Your account and agree that We are not liable for any loss or damage arising from Your failure to safeguard Your password.  To the fullest extent allowed by law, all activity conducted in connection with Your User Account will be Your responsibility. 

You are further responsible for maintaining the security of Your accounts and any device, such as Your mobile phone and email address, that You may use to create or access Your User Account or the Services. You are responsible for all transactions and activity conducted on Your account, regardless of whether You authorized it. We have no responsibility for the loss, theft, or unauthorized use of Your account, mobile phone, email account, or any device You use to access Your account or the Services. A Customer assumes ALL responsibility in the safekeeping of his or her cryptocurrency and any cryptocurrency wallet(s). YOU MUST CONTACT US IMMEDIATELY BY TELEPHONE AT  +27638742768 IF YOU BELIEVE SOMEONE ELSE IS USING YOUR ACCOUNT OR YOUR ACCOUNT SECURITY HAS BEEN COMPROMISED.

Notwithstanding anything to the contrary herein, You acknowledge and agree that You shall have no ownership or other property interest (including intellectual property right) in any account stored or hosted on the Services (the “CoinFlip Accounts”), and You further acknowledge and agree that all rights in and to such CoinFlip Accounts are and shall forever be owned by and inure to the benefit of Company. To the extent that the Company does not own the CoinFlip Accounts, you agree to cede, assign, transfer and make over absolutely to the Company: (i) all existing and future intellectual property rights in the CoinFlip Accounts; and (ii) any and all claims and potential claims (including any accrued rights and claims) in relation thereto (“Assigned Rights”). You unconditionally and irrevocably waive, in favour of the Company or its successors in title, all moral rights in and to the CoinFlip Accounts and the Assigned Rights to which you may be entitled under applicable law. You hereby undertake, when called upon to do so by the Company, without charge, to sign all documentation and do any and all things necessary to perfect the Company’s ownership in the CoinFlip Accounts (including the intellectual property rights therein) and Assigned Rights, and to record such intellectual property rights and/or the assignment thereof, to the Company. You may not transfer, share, or make available Your account information to others. Any distribution by You of Your account information may result in suspension, termination or cancellation of Your access to the Services.  You alone are responsible for any costs You incur to access the Internet.

No Financial Advice/Accuracy and Completeness of Information

No material on the Services is intended to be financial advice and any such material should not be construed as an express or implied recommendation, guide or proposal that any particular transaction is appropriate to Your particular objectives, financial situation or needs. The information, including but not limited to text, graphics, images and other material contained on the Services, are for informational purposes only and may become out of date over time. Company is not responsible for any financial, emotional, or other damage resulting from the use or misuse of such material, nor is Company responsible for the accuracy, reliability, effectiveness, or correct use of any such material.   

Always seek the advice of Your bank or professional financial advisors with any questions You may have regarding the Services.

Intellectual Property

Company, its licensors, or suppliers own all rights, title and interest in and, without limitation, to all other content, products offered via the Services, software (including source code), logos, icons, the Services’ "look and feel," text, graphics, images, video clips, sound clips, notices, data, page layout, selection and arrangement of the content of the Services, the features and functionality of the Services, and any compilation of the foregoing, and all copyrights, trademarks, service mark, patents, designs, inventions (whether patentable or not), trade secrets, proprietary and confidential information, technology, technical data, utility models, topography rights and any other intellectual property rights embodied therein, whether or not applied for or registered (collectively, “Company Content”).

You may not modify, publish, transmit, participate in the transfer or sale of, reproduce, create derivative works from, distribute, perform, display, incorporate into another website, app, or other service, or in any way exploit any of the Company Content, in whole or in part, except as set forth in these Terms or applicable Supplemental Terms, without the specific permission of Company or its licensors or suppliers. 

Company and its licensors and suppliers reserve all rights not expressly granted in and to the Company Content.  Any third party trademarks or content present within the Services are property of their respective owners.   You may not use Company Content in a manner that suggests an association with Company or any of our products, services, or brands.

Subject to the Terms, Company grants You a limited non-assignable, non-transferrable, non-sublicensable, non-exclusive and revocable license to reproduce portions of Company Content solely as required to use the Services for Your personal or internal business purposes. Unless otherwise specified by Company in a separate license, Your right to use any Company Content is subject to these Terms.

Trademarks

CoinFlip and other related graphics, logos, service marks, and trade names, business and domain names, trade dresses and get-ups used on or in connection with the Services are the trademarks of the Company and may not be used without permission in connection with any third-party products or services. Other trademarks, service marks and trade names that may appear on or in the Services are the property of their respective owners.

Your License

Subject to Your compliance with these Terms and any applicable Supplemental Terms, We grant You a limited, personal, revocable, non-exclusive, non-sublicensable nontransferable license to:

i.          access and use the Services solely for Your personal use;

ii.         link to the Services, provided however, that Your or any third party website, app, or other service that links to the Services (1) must be targeted to consumers 18 years of age and older; (2) must not contain or facilitate the sale of prohibited products or services; (3) must not provide financial information or financial claims; (4) must not frame or create a browser or border environment around any of the Company Content or otherwise mirror any part of the Services; (5) must not imply that Company is endorsing or sponsoring it or its products or services, unless Company has given it prior written consent; (6) must not present false information about, or disparage, tarnish, or otherwise, in our sole opinion, harm Company or the Services; (7) must not use any Company trademarks without the prior written permission from us; (8) must not contain content that could be construed as distasteful, offensive or controversial or otherwise objectionable (in our sole opinion); (9) must be owned and controlled by You or the person or entity placing the link, or otherwise permit You to enable such link subject to these Terms; and (10) must comply with all applicable laws and regulations and not cause Company to violate any applicable laws or regulations, such as those prohibiting the advertising of our Services to persons Younger than 18 years of age or residents of states where our Services may not be legalized. By linking to the Services, You agree that You do and will continue to comply with the above linking requirements.  Notwithstanding anything to the contrary contained in these Terms, Company reserves the right to prohibit linking to the Services for any reason in our sole and absolute discretion even if the linking complies with the requirements described above. 

The foregoing license does not include any right to modify, publish, participate in the transfer or sale of, reproduction, or creation of derivative works from the Company Content, except as and only to the extent expressly stated above.

You agree not to challenge any of Company’s rights, title and interests in the Services or Company Content, including to refrain from acquiring any proprietary rights. By submitting comments, notes, or similar information to Us or via the Services, You automatically grant, and confirm You have the ability to grant to Us, a perpetual, royalty-free, irrevocable, non-exclusive right and license to use, modify, translate, create derivative works from, and distribute such materials in any form.

We reserve any and all rights not expressly granted to You pursuant to these Terms.  

Updates

The Services are evolving and You may be required to accept or install updates to the Services, or update third-party software (i.e., browsers or OS) in order to keep using the Services or access their latest features, including security updates. We may update, withdraw, suspend, or discontinue the Services at any time, without providing notice. You agree that We will not be liable to You or to any third party for any modification, suspension, or discontinuance of the Services or any part thereof.

The regulatory framework for the Services is evolving and You may be required to accept the Terms that have been amended to align or comply with any regulatory developments.

Certain Restrictions

By accessing the Services, You agree not to: (a) license, sell, rent, lease, transfer, assign, reproduce, distribute, host or otherwise commercially exploit the Services or Company Content, or any portion thereof, including on a service bureau or equivalent basis; (b) frame or enclose any trademark, logo, or other Company Content, (including images, text, page layout or form); (c) use any metatags or other “hidden text” using Company’s name or trademarks; (d) modify, translate, adapt, merge, make derivative works of, disassemble, decompile, reverse compile or reverse engineer any part of the Services or Software (except to the extent this restriction is expressly prohibited by applicable law); (e) use any manual or automated software, devices or other processes (including spiders or other data mining tools) to “scrape” or download data from any web pages in the Services (except that We grant operators of public search engines revocable permission to do so for the sole purpose of creating publicly available searchable indices (but not caches or archives) of such content; (f) access the Services in order to build a similar or competitive Services; (g) copy, reproduce, distribute, republish, download, display, post or transmit any Company Content except as expressly permitted herein; (h) remove or destroy any copyright notices or other proprietary markings contained on or in the Services or Company Content; (i) disguise Your location through IP proxying or other methods; (j) violate any applicable international, federal, provincial or state laws, rules, regulations, or local ordinances; or (k) encourage or enable any other individual to do any of the foregoing.  Any unauthorized use of the Services terminates the licenses granted by Company herein.

Termination

We may terminate Your access to and use of all or some of the Services, at our sole discretion, at any time and without notice to You. Upon any termination, discontinuation or cancellation of Services or Your User Account, (i) all rights and/or licenses granted to You under these Terms shall immediately cease and terminate and You shall forthwith cease the use and/or access of the Services in any way whatsoever; and (ii) notwithstanding the foregoing, the following provisions will survive: Ownership, Termination, Warranty Disclaimers, Intellectual Property, Complaints and Dispute Resolution, Jury Trial Waiver, and General Terms.

In the event of suspension or termination by Company, We may delete Your User Account, including deleting Your transaction history, and other information permitted by law; and bar Your further use of the Services.  You understand that such actions may be taken without any liability whatsoever to You for any suspension or termination.

If Your access to the Services is terminated under these Terms, then You agree that You will not attempt to re-register with or access the Services through use of a different username or otherwise. In the event that You violate the immediately preceding sentence, We reserve the right, in our sole discretion, to immediately take any or all of the actions set forth in these Terms without any notice or warning to You.

Disclaimer of Warranties

To the extent permitted by applicable law, the Services are provided on an “as is” and “as available” basis, with all faults, and the company expressly disclaims all warranties, representations, and conditions of any kind arising from or related to these terms or Your use of the Services, including the implied warranties of merchantability and fitness for a particular purpose. You acknowledge that, to the extent allowed by applicable law, all risk of use of the Services rests entirely with You.

Neither Company nor its suppliers and licensors makes any warranty or guarantee with respect to the Services’ quality, effectiveness, reputation and other characteristic; that the Services will meet Your requirements, be error free, reliable, or free of viruses and other harmful components; or that access to the Services will be timely and uninterrupted.

Information published via the Services may refer to products, programs, or services that are not available in Your jurisdiction.

Any Company Content downloaded from or otherwise accessed through the Services is accessed at Your own risk, and You will be solely responsible for any damage to Your property, including, but not limited to, Your computer system and any device You use to access the Services, or any other loss that results from accessing such Company Content.

Some jurisdictions may not allow the exclusion of implied warranties, so some of the above exclusions may not apply to You.

Disclosure of Material Risks of the Services

1.     Cryptocurrency is not legal tender, is not backed by any government or financial institution;

2.     Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of cryptocurrency

3.     Transactions in cryptocurrency are irreversible, and, accordingly, losses due to fraudulent or accidental transactions are not recoverable;

4.     Cryptocurrency transactions shall be deemed to be made when recorded on the network's public ledger, which is not necessarily the date or time that the customer initiates the transaction;

5.     The value of cryptocurrency may be derived from the continued willingness of market participants to exchange fiat currency – such as South African Rand – for cryptocurrency, which may result in the potential for permanent and total loss of value of Bitcoin or cryptocurrency should the market for Bitcoin or cryptocurrency fall;

6.     There is no assurance that any person who accepts cryptocurrency as payment today will continue to do so in the future;

7.     The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant or total loss;

8.     The nature of cryptocurrency as an Internet-based protocol may lead to an increased risk of fraud or cyber-attack;

9.     The Company does not guarantee the Service’s availability.

Risk of Loss

A Customer assumes all risk of loss associated with the holding of Bitcoin(s) or any other cryptocurrency and acknowledges that cryptocurrency is a volatile asset and that cryptocurrency is a volatile asset class. Bitcoin(s) and other cryptocurrencies are not otherwise insured or guaranteed by the Company or any other party. The Company is not an investment advisor and does not provide any person advice or guidance on the suitability of holding Bitcoin or similar cryptocurrencies. The Company is not in any way responsible if the price of cryptocurrency decreases following a Customer’s purchase.

In order to access our Services, You may be required to use a cryptocurrency wallet provided by a third-party or the Company. If You use the Company Wallet, You must agree to the Terms in order to use the Services.  You must use Your own cryptocurrency wallet. You are not permitted to use the cryptocurrency wallet of any other person or any third party. If the Company recommends or requires that the Customer use third-party wallet applications for the storage of Bitcoins and other cryptocurrency, it is solely that Customer’s responsibility to conduct his or her own due diligence on those applications before using them. We have no control of or responsibility for any such wallets provided by a third-party, and cannot provide support in respect of these wallets. The Company cannot provide any technical or customer support for any malfunction or other issue that may arise in connection with Your use of such wallets. You are wholly responsible for maintaining the security of any wallet You may use in connection with the Service. The Company is not responsible in any way for the functionality of such wallets or the safekeeping or security of cryptocurrency sent by the Company to or from a third-party wallet, or any cryptocurrency stored in a third-party wallet. Customer acknowledges and agrees that they will only use a wallet they own to conduct transactions using the Service, and will not use the Service to send cryptocurrency to or from a third-party. Customer acknowledges and agrees that they will only use a wallet that the Customer personally has custody of.

Customer Eligibility to Use the Services

To help the government fight the funding of terrorism and money laundering activities, South Africa’s Financial Intelligence Centre Act, 2001 (FICA) requires the Company to obtain, verify, and record information that identifies each Customer who uses or seeks to use the Service. What this means for You: When You request a transaction with the App, a third-party affiliate may ask for Your name, address, date of birth, and other information that will allow Us to identify You. The third-party affiliate may also ask to see Your driver’s license or other identifying documents in order to verify Your identity. This required identifying and verifying information may change at any time for any reason.

You may be required to complete this identity verification process to the satisfaction of the Company and its third party affiliates in order to access and use the App or certain features of the Service. You agree to provide true, accurate, current and complete information about Yourself. Even if You have previously verified Your identity, our third-party affiliate may ask for additional information to allow them to verify Your identity again. This may occur at any time, for example, if You request to make a transaction in a larger amount than Your prior transactions, or if We believe there may be suspicious activity on Your account. We may refuse to open an account for You, or restrict or close Your existing account if We cannot verify Your information, or if You do not provide identifying information and documents as requested.

If You are under 18 years of age, or the age of majority in Your country, province or territory, You are not authorized to use the Service. The Company does not accept incorporated or organized entities as Customers of the Service. The Service is for personal use only. We reserve the right to reject any person as a Customer of the Service for any lawful reason.

You are not permitted to use the cryptocurrency wallet of any other person or any third party. As a Customer, You agree to use Your own cryptocurrency wallet for any and all transactions.

Transactions and Limitations

Transactions may be made only in Rand. ALL TRANSACTIONS ARE IRREVERSIBLE AND NON-REFUNDABLE. You have no right to stop payment on any transaction. The Services may provide You with a transaction receipt. Please keep this transaction receipt for Your records.

The Company may at any time limit the amount of any transaction that may be conducted by a Customer, and institute daily, weekly and/or monthly transactional limits on a Customer’s use of the Service. These limits may be changed at any time for any reason by the Company in its sole discretion, with or without notice to You. Use of another person’s identifying information to circumvent these limits is strictly prohibited and may result in suspension of Your ability to use the Service. We have the absolute right to close or suspend Your account at any time, and for any reason not prohibited by law. We also have the absolute right in our sole discretion to reject any transaction request for any reason.

If We are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to Your account or use of the Service (“Legal Action”), We will comply with that Legal Action. Or, in our discretion, We may freeze or place a hold on Your account until a final determination has been made by a court or relevant regulatory authority regarding the Legal Action. We may do these things even if the Legal Action involves less than the amount on which the hold was placed. In these cases, We will not have any liability to You because We fail to complete Your requested transaction, or because in any way restricted access to Your funds, account, or use of the Service in accordance with the Legal Action. You may be responsible for any fees or expenses We incur in responding to any Legal Action (including attorneys' fees and our internal expenses).

We may also place a hold on Your account if We believe, in our sole discretion, that the requested transaction is suspicious or is in violation of law or these Terms of Service. We may refuse to release the hold on for as long as We deem reasonably necessary to complete an investigation of the activity or source of the assets. Funds may be frozen, blocked, or delivered to a regulatory authority if required by applicable law, at the order, direction, or request of a regulatory authority, or as reasonably necessary to ensure the Company can comply with all of its legal obligations and cooperate with any investigation, subpoena, inquiry, request for information, examination, or similar request from a regulatory authority.

Fees

Fees at Kiosks

You agree that by transacting at a Kiosk the Company may charge, and You will pay, a transaction fee and a network fee for each transaction You make. The Transaction Fee is calculated as a percentage of Your total transaction amount. The Network Fee is a fixed fee that does not depend on the size of Your transaction. The Transaction Fee and Network Fee are included in the exchange rate applicable to Your transaction. Before You make a transaction, We will tell You the exchange rate applicable to Your transaction. By proceeding with the transaction, You agree to pay the exchange rate, including the Transaction Fee and Network Fee, and You agree to the other terms applicable to the transaction as set forth in these Terms. If You do not agree, You may not proceed with the transaction and must immediately discontinue Your use of the Services for that transaction.

The Transaction Fee is calculated as a percentage over the Market Price, as discussed fully in the paragraph above. The Transaction Fee and Network Fee are included in the exchange rate applicable to Your transaction. Before You make a transaction, We will tell You the exchange rate applicable to Your transaction. In other words, the Company will tell You: (1) the amount You must pay in fiat currency to purchase a certain amount of cryptocurrency from the Company or (2) the amount the Company will pay You in fiat currency to purchase a certain amount of cryptocurrency from You. By proceeding with the transaction, You agree to pay the exchange rate, including the Transaction Fee and Network Fee, and You agree to the other terms applicable to the transaction as set forth in these Terms of Service. If You do not agree, You may not proceed with the transaction and must immediately discontinue Your use of the Services for that transaction. 

Fees in the App

For purchases in the App, You will be required to pay a Processing Fee, a Transaction Fee, and a Network Fee.  The Processing Fee is calculated as a percentage over the Market Price, as discussed fully below.  The Processing Fee will be different based on whether You complete a transaction using debit, credit, or bank transfer.  Before You make a transaction, We will tell You the exchange rate applicable to Your transaction and all applicable fees, including the Processing Fee, Transaction Fee, and Network Fee.  By proceeding with the transaction, You agree to pay the exchange rate, including the Transaction Fee, Processing Fee, and Network Fee, and You agree to the other terms applicable to the transaction as set forth in these Terms of Service.  If You do not agree, You may not proceed with the transaction and must immediately discontinue Your use of the Services for that transaction. 

Market Price

The Company uses CoinAPI indexing to determine the Market Price. The Company reserves the right to use a different source without notice to determine Market Price for any reason. By transacting with the Company, You waive any claims or liability against the Company based on the manner in which the Company determines the Market Price. The Company also charges a minimum R15 Network Fee.  “Network Fee” shall mean the minimum  R15 fee applied towards the required payment to use the applicable blockchain to send Your selected cryptocurrency to Your cryptocurrency wallet.  Due to the nature of how the Company processes customer transactions, the Company may periodically profit from the Network Fee.  During times of high transaction volume, the Network Fee may be increased.  By transacting with the Company, You waive any claims or liability against the Company based on the charged Network Fee. 

Customer Obligations

It is the sole responsibility of the Customer to check the accuracy of information entered while using the Service, including, but not limited, to the amount of the requested transaction, the type of currency or cryptocurrency to be exchanged and transferred, and the account/cryptocurrency address to or from which the cryptocurrency will be transferred.  Account/cryptocurrency address details displayed on the order summary page will be the final transfer destination. By submitting a transaction request through the Services, You authorize Us to complete the transaction according to the information You entered and was presented to You on the order summary page. In the case that this information is incorrect, and funds are transferred to an unintended destination, the Company shall not reimburse the customer nor be liable for any loss.  As such customers must ensure the cryptocurrency address that they enter or scan is correct. If We believe any error occurred with respect to a transaction You make through the Services, We may, but are not required to, charge Your account or the wallet You presented in the Services as needed to correct the error. You hereby authorize all such charges and agree to provide Us with any information We need to conduct that transaction.

You agree that they will not use the Service to perform any type of illegal or illicit activity of any sort, including, but not limited to, money laundering, narcotics trafficking, human trafficking, tax evasion, or terrorism financing, or do anything to negatively affect the performance of the Service or violate these Terms. Suspicion of using the Service for an unauthorized or illegal activity, or in violation of these Terms, is cause for the Company to suspend all access of a Customer to the Service; whether this suspicion is warranted is exclusively within the absolute discretion of the Company.

You agree to respond to all inquiries from the Company regarding the Customer’s account or transactions; failure to diligently respond to the Company’s inquiries may result in a suspension of the account and future transactions.

ADA Compliance

If for some reason You are not able to use our Services because of a disability, please call our 24 hour a day customer service at +27638742768  for assistance. We have solutions to accommodate the purchase and sale of cryptocurrency for customers who cannot transact with our Services because of a disability.

Communications

You agree that We and our service providers may communicate with You by mail, telephone, email, fax, prerecorded message, automated voice, text message, presentation of information in the Services, or other means allowed by law regarding Your account or use of the Service. You authorize Us to send communications to the contact information You provided to Us. Notices will be deemed to have been delivered on the day We mailed it to You, or made it available electronically. A notice You give Us is effective after We actually receive and have a reasonable opportunity to act on it. We are not responsible for items lost in, or not delivered by, mail or e-mail. Some notices may only be available electronically or in paper form.

Your account is provided electronically. We may send communications electronically, such as by email or text message, or through the Services, rather than through South African mail or other means, unless the law says otherwise. You are required to agree to communicate with Us by electronic means in order to open and use Your account, pursuant to the Electronic Records Disclosure and Consent Agreement, which is incorporated herein by reference. If You revoke Your consent to electronic communications, We may close or restrict Your account and We may not permit You to use the Service.

We may record and/or monitor any of our telephone conversations with You. If We do record, We do not have to keep the recordings, unless the law says We must. When You give Us Your mobile number, We have Your permission to contact You at that number about Your account and transactions. Your consent allows Us and our service providers to use text messaging, artificial or prerecorded voice messages and automatic dialing technology for informational and service calls, but not for telemarketing or sales calls. This communication may include contact from companies working on our behalf to service Your account. Message and data rates may apply. You may change these preferences by calling Us at +27638742768  or emailing or emailing [email protected].

You are responsible for promptly notifying Us of any change to any Your contact information or Your name. In some instances, We may request additional information for verification purposes.

You are responsible for obtaining and maintaining all telecommunications, mobile, broadband, computer, hardware, software, equipment and services needed to access and use the Service and receive communication from the Company.

Complaints and Dispute Resolution

Limitation of Liability

To the fullest extent permitted by applicable law, in no event shall Company, its parent, subsidiaries, affiliates, partners, licensors, service providers, agents, officers, directors, and employees (and the same of our service providers, subsidiaries and affiliates themselves) (each, and “Indemnified Party” and collectively, the “Indemnified Parties”) be liable to You for any loss of profits, revenue or data, indirect, incidental, special, or consequential damages arising out of or in connection, directly or indirectly, with (a) Your use or misuse of the Services or any part thereof; (b) Your breach or alleged breach of any provision of these Terms; (c) Your violation or infringement of any rights of another, including without limitation any intellectual property rights, property, or privacy rights; (d) any bugs, viruses, trojan horses, or the like, regardless of their origin; (e) any other interaction with the Services or any other user of the Services whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not You have been advised of the possibility of such damages. You agree that Your only right with respect to any problems or dissatisfaction with the Services or the products is to discontinue use of the Services.

You further agree that Indemnified Parties will not be liable for anything We do when following Your instructions. In addition, the Indemnified Parties will not be liable if any such Indemnified Party does not follow Your instructions if We reasonably believe that Your instructions would expose Us to potential loss or civil or criminal liability, or conflict with customary banking practices. To the extent You are entitled to relief under this Agreement, the total liability of the Indemnified Parties to You will not exceed R10,000, except as otherwise required by applicable law. The foregoing limitations will apply even if the above stated remedy fails of its essential purpose. 

The Indemnified Parties will not be liable for indirect, special, or consequential damages regardless of the form of action and even if We have been advised of the possibility of such damages. This section will survive termination of Your account and use of the Service.

The Company cannot be held liable for any malfunction, breakdown, delay or interruption to the Internet connection, or if for any reason its Services is unavailable at any time or for any period.  Customers acknowledge that an account may be suspended for any reason and they may not be able to have access to the Service at any time for any reason.

The limitations of damages set forth above are fundamental elements of the basis of the bargain between the Company and You.

Indemnification

You agree to indemnify and hold the Indemnified Parties harmless from and against losses arising in connection with the Services, except for losses arising out of our own gross negligence or willful misconduct. You further agree to hold the Indemnified Parties harmless from losses arising out of actions taken or omitted in good faith by any Indemnified Party in reliance upon instructions from You. The Indemnified Parties are not responsible for any actions or omissions by any third party. If You give Us instructions that We believe may expose Us to potential liability, We may refuse to follow Your instructions and We will not be liable to You if we refuse to follow Your instructions. If We do choose to follow Your instructions, We may ask You for certain protections such as a surety bond or an indemnity agreement in a form that is satisfactory to us. This section will survive termination of Your account and use of the Services.

Regulatory reportingThe Company is registered as an accountable institution with South Africa’s Financial Intelligence Centre and may be required by law to file currency transaction reports and/or suspicious activity reports with regulatory authorities regarding Customers’ activities. The Company is not permitted to notify Customers of the filing of such reports. The Company may also be legally required to provide information concerning a Customer’s transactions to other countries’ regulatory authorities. The Company shall not be liable to any Customer in any way for providing information to regulatory authorities about that Customer’s use of the Service.

Arbitration Agreement

PLEASE READ THIS SECTION CAREFULLY AS IT AFFECTS YOUR RIGHTS.

Agreement to Arbitrate.

This section is referred to as the Arbitration Agreement. If You have a dispute with the Company or any other Indemnified Party, and are not able to resolve the dispute informally, You and We agree that upon demand by You, the Company or any other Indemnified Party, the dispute will be resolved through the arbitration process set forth in this section.

Arbitration.

You agree that if You have a dispute or claim that has arisen or may arise between You and the Company or any other Indemnified Party, whether arising out of or relating to these Terms (including any alleged breach), Your use of the site or any Service provided on the site or under these Terms, any advertising, any aspect of the relationship or transactions between us, and You are not able to resolve the dispute or claim informally, You and We agree that upon demand by You, the Company or any other Indemnified Party, the dispute or claim will be resolved exclusively through final and binding arbitration, rather than a court, in accordance with the terms of this Arbitration Agreement. except that You may assert individual claims in small claims court, if Your claims qualify. Further, this Arbitration Agreement does not preclude You from bringing issues to the attention of federal, state, or local agencies, and such agencies can, if the law allows, seek relief against Us on Your behalf. You agree that, by entering into this Arbitration Agreement, your rights will be determined by a neutral arbitrator, not a judge.. The Arbitration Act 42 of 1965 governs the interpretation and enforcement of this Arbitration Agreement.

Batch Arbitration.

You and the Company agree that, in the event that there are fifty (50) or more individual requests for arbitration of a similar nature filed against the Company within an approximately thirty-day period (or otherwise in close proximity), the Company may determine the arbitration service provider that will administer all such similarly situated arbitration demands on a collective basis as a single, consolidated arbitration (subject to a single set of fees, proceeding schedule, and, if required, hearing) before a single arbitrator in accordance with the requirements outlined elsewhere in this section, provided that – in the event that the arbitrator deems it impracticable or inequitable to administer all such claims collectively in a single arbitration – (s)he may group demands for arbitration into groups of not fewer than twenty (20) matters, plus a remainder group as needed (or as otherwise deemed by the arbitrator to be practicable, equitable, and in best keeping with the spirit of this provision) and arbitrate each group of matters as a single, consolidated arbitration (either structure a “Batch Arbitration”). You and the Company agree (1) to work with the selected arbitration service provider in good faith to facilitate the resolution of disputes on a Batch Arbitration basis and (2) that requests for arbitration are of a “similar nature” if they arise out of the same event, agreement, or factual scenario and raise the same or similar legal issues and seek the same or similar relief. Disagreements over the applicability of this Batch Arbitration process will be settled in a single, consolidated arbitration proceeding that includes all affected parties and is resolved by a single arbitrator subject to the requirements of this section.

Parties Subject to this Arbitration Agreement.

This Arbitration Agreement applies whenever there is a claim between You and us. If a third party, such as an Indemnified Party other than the Company, is also involved in a claim between You and us, or if a dispute arises between You and an Indemnified Party other than the Company relating to these Terms or Your use of the site, then the claim will be decided with respect to the third party in arbitration as well, in accordance with this Arbitration Agreement, and it must be named as a party in accordance with the rules of procedure governing the arbitration. No award or relief will be granted by the arbitrator except on behalf of, or against, a named party.

Exclusions.

You and We retain the right to pursue in small claims court (or an equivalent state court) any dispute that is within that court’s jurisdiction, so long as the disputes remain in such court and advance only an individual claim for relief. If either You or We fail to submit to binding arbitration of an arbitrable dispute following lawful demand, the party so failing will bear all costs and expenses incurred by the other in compelling arbitration.

Pre-Arbitration Dispute Resolution.

The Company and Indemnified Parties are always interested in resolving disputes amicably and efficiently, and most customer concerns can be resolved quickly and to Your satisfaction by emailing customer support at [email protected]. If such efforts prove unsuccessful, a party who intends to seek arbitration must first send to the other, by certified mail, a written Notice of Dispute (“Notice”). The Notice to the Company or Indemnified Party should be sent to CoinFlip South Africa PO Box 16995 Lyttelton, Centurion, Gauteng 0140  (“Notice Address”). The Notice must (a) describe the nature and basis of the claim or dispute and (b) set forth the specific relief sought. If You do not resolve the claim with the Company or Indemnified Party within 60 calendar days after the Notice is received, You or the Company or Indemnified Party, as applicable, may commence an arbitration proceeding. During the arbitration, the amount of any settlement offer made by any party will not be disclosed to the arbitrator until after the arbitrator determines the amount, if any, to which You or the Company is entitled.

Arbitration Procedures.

Any dispute, claim or controversy arising out of or relating to this Engagement or the breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this engagement to arbitrate, shall be determined by arbitration in South Africa before a single arbitrator. The arbitration shall be administered by an arbitration service provider selected by the Company pursuant to its arbitration rules and procedures. Judgment on the Award may be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction.

Unless the parties to the arbitration agree otherwise, any arbitration hearings will take place in a reasonably convenient location for both parties with due consideration of their ability to travel and other pertinent circumstances. If the parties are unable to agree on a location, the determination will be made by the Arbitration Foundation of Southern Africa (“AFSA”). If Your claim is for R200,000or less, You may choose whether the arbitration will be conducted solely on the basis of documents submitted to the arbitrator, through a telephonic hearing, or by an in-person hearing as established by the AFSA rules. If Your claim exceeds R200,000, the right to a hearing will be determined by the AFSA rules. Regardless of the manner in which the arbitration is conducted, the arbitrator will issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the award is based.

Cost of Arbitration.

Payment of all filing, administration, and arbitrator fees (collectively, the “Arbitration Fees”) will be governed by the AFSA rules, unless otherwise provided in this Arbitration Agreement. If the value of the relief sought is R1,400,00 or less, at Your request, the Company or the Indemnified Party will pay all Arbitration Fees. If the value of relief sought is more than R1,400,000 and You are able to demonstrate to the arbitrator that You are economically unable to pay Your portion of the Arbitration Fees or if the arbitrator otherwise determines for any reason that You should not be required to pay Your portion of the Arbitration Fees, the Company or the Indemnified Party will pay Your portion of such fees. In addition, if You demonstrate to the arbitrator that the costs of arbitration will be prohibitive as compared to the costs of litigation, the Company or the Indemnified Party will pay as much of the Arbitration Fees as the arbitrator deems necessary to prevent the arbitration from being cost-prohibitive. Any payment of attorneys’ fees will be governed by the AFSA rules.

Confidentiality.

All aspects of the arbitration proceeding, and any ruling, decision, or award by the arbitrator, will be strictly confidential for the benefit of all parties.

Severability.

If a court or the arbitrator decides that any term or provision of this Arbitration Agreement is invalid or unenforceable, the parties agree to replace such term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Arbitration Agreement will be enforceable as so modified.

Future Changes to this Arbitration Agreement.

Notwithstanding any provision in these Terms to the contrary, if We make any future change to this Arbitration Agreement (other than a change to the Notice Address) You may reject any such change by sending Us written notice within 30 days of the change to the Notice Address and ceasing all use of the site or any Services provided on the site or under these Terms prior to the effective date of any such change. By rejecting any future change, You are agreeing that You will arbitrate any dispute covered by this Arbitration Agreement in accordance with the terms of this Arbitration Agreement as of the date You first accepted these Terms (or accepted any subsequent changes to these).

This section is referred to as the Arbitration Agreement. If You have a dispute with the Company or any other Indemnified Party, and are not able to resolve the dispute informally, You and We agree that upon demand by You, the Company or any other Indemnified Party, the dispute will be resolved through the arbitration process set forth in this section.

General Terms

Third Party Content, Links, and Applications

The Services may enable You to access other sites and mobile applications through links or may include third party content that We do not control, maintain, or endorse.  These sites, apps, and content are not owned or controlled by Company, and as a result, We are not responsible or liable for, and You release Us from, any loss or damage incurred by You as a result of any dealings between You and these third parties, or the failure of these third party sites or apps to function properly. The inclusion of any link or grant of access on the Services does not imply or express an affiliation or endorsement of the site, app, or contents.  The Services may also enable You to share content from the Services with a third party, which may be publicly posted on that third party's site or application, and would therefore be subject to the third party's terms of service and privacy policy. You are responsible for reading the third party's terms of service and privacy policy, and You acknowledge that Company is not responsible or liable for, and You release us from, any loss or damage incurred by You as a result of Your access and interaction with such third parties.

Sweepstakes, Contests, Promotions

Any sweepstakes, contests or other promotions (any, a “Promotion”) that may be offered via the Services may be governed by a separate set of rules that may have eligibility requirements, such as certain age or geographic area restrictions, terms and conditions governing the Promotion, use of user content, and disclosures about how Your personal information may be used. It is Your responsibility to read these rules to determine whether or not You want to and are eligible to participate, register and/or enter, and to determine the applicable terms and conditions of the Promotion. By participating in a Promotion, You will be subject to those official rules, and You agree to comply with and abide by such rules and the decisions of the identified sponsor(s).

Mobile Features

The Services may offer features that are available to You via Your mobile phone or other mobile device (collectively, “Mobile Features”). Additional terms may apply to Your use of any mobile feature. We may serve You some or all of our Mobile Features through an application that is owned and operated by a third party developer. Message and data rates and other carrier fees may apply. Fees and charges will appear on Your mobile device bill or be deducted from Your pre-paid balance. Your carrier may prohibit or restrict certain Mobile Features and certain Mobile Features may be incompatible with Your carrier or mobile device. Please contact Your carrier with questions regarding these issues.

You agree that the Mobile Features for which You are registered may send communications to Your mobile device regarding CoinFlip or other parties. Further, We may collect information related to Your use of the Mobile Features. If You use any Mobile Features, You agree to notify CoinFlip of any changes to Your mobile number and update Your account(s) on the Services to reflect this change.

Full use of certain products and services, including remote access and mobile notifications, is dependent on, among other things, the transmission of data through Your wi-fi network, enabled wireless device (such as a phone or tablet), Internet access, and use of a device with compatible software.

Choice of Law and Exclusive Venue

These Terms and any action related thereto will be governed by the laws of South Africa, without regard to its conflict of laws provisions. To the extent the parties are permitted under these Terms to initiate litigation in a court, both You and the Company agree that all claims and disputes arising out of or relating to the Terms will be litigated exclusively in South Africa courts.

Assignment

The Terms, and Your rights and obligations hereunder, may not be assigned, subcontracted, delegated or otherwise transferred by You without the Company’s prior written consent.

Force Majeure

The Company will not be liable for any delay or failure to perform resulting from causes outside its reasonable control, including, but not limited to, acts of God, war, terrorism, riots, embargos, acts of civil or military authorities, fire, floods, accidents, strikes or shortages of transportation facilities, fuel, energy, labor or materials, government regulations and orders.

Waiver

Any waiver or failure to enforce any provision of the Terms on one occasion will not be deemed a waiver of any other provision or of such provision on any other occasion.

Export

You may not use, export, import, or transfer the Services except as authorized by U.S. law, the laws of the jurisdiction in which You obtained the Services, and any other applicable laws. In particular, but without limitation, the Services may not be exported or re-exported (a) into any United States embargoed countries, or (b) to anyone on the U.S. Treasury Department’s list of Specially Designated Nationals or the U.S. Department of Commerce’s Denied Person’s List or Entity List; (c) to any person  that is named or identified in South Africa’s Financial Intelligence Centre’s Targeted Financial Sanctions List or the United Nations Security Council Consolidated Sanctions List By using the Services, You represent and warrant that (i) You are not located in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a “terrorist supporting” country and (ii) You are not listed on any U.S. Government list of prohibited or restricted parties or in South Africa’s Financial Intelligence Centre’s Targeted Financial Sanctions List or the United Nations Security Council Consolidated Sanctions List. You also will not use the Services for any purpose prohibited by U.S. law or South African law, including the development, design, manufacture or production of missiles, nuclear, chemical or biological weapons. You acknowledge and agree that products, services or technology provided by the Company are subject to the export control laws and regulations of South Africa. You will comply with these laws and regulations and will not, without prior authority of the South African Reserve Bank or an Authorised Dealer in foreign currency (as the case may be), export, re-export, or transfer the Company products, services or technology, either directly or indirectly, to any country in violation of such laws and regulations.

SPECIAL TERMS FOR APPLE iOS USERS

Notwithstanding any other provision within these Terms, the following additional terms are applicable to those using the Services on Apple’s iOS platform: You understand that these Terms are between You and us only, and not with Apple. Company, not Apple, is solely responsible for the Services and there content thereof. You further understand that the Services may not be used in any manner inconsistent with the Apple App Store Terms of Service as of the Effective Date. You are granted a license to use the Services on any iOS device that You own or control and as permitted by the “Usage Rules” set forth in the Apple App Store Terms of Service. We are solely responsible for providing maintenance and support for the Services, as specified in these terms or as required under applicable law. You understand that Apple has no obligation whatsoever to furnish any maintenance and support services with respect to the Services. We are solely responsible for any warranties, whether express or implied by law, to the extent not effectively disclaimed. In the event of any failure of the Services to conform to any applicable warranty, You may notify Apple, and Apple will refund the purchase price for such Services to You (if any); and that, to the maximum extent permitted by applicable law, Apple will have no other warranty obligation whatsoever with respect to the Services, and any other claims, losses, liabilities, damages, costs or expenses attributable to any failure to conform to any warranty will be the sole responsibility of us. We, not Apple, are responsible for addressing any claims by You or any third party relating to the Services or Your possession and/or use of the Services, including, but not limited to: (i) product-liability claims; (ii) any claim that the Services fails to conform to any applicable legal or regulatory requirement; and (iii) claims arising under consumer protection or similar legislation. Our liability is limited so far as permitted by applicable law. In the event of any third-party claim that the Services or Your possession and use of such Services infringes that third party’s intellectual property rights, we, not Apple, are solely responsible for the investigation, defense, settlement and discharge of any such intellectual property infringement claim. You and we acknowledge and agree that Apple will have the right (and will be deemed to have accepted the right) to enforce the Terms against You as a third-party beneficiary thereof. If You have any questions or concerns regarding the Services, please contact Us as described below.

Terms Applicable to Company Wallet

Wallet Account

When You access certain features of the Services, You will be able to create a wallet and/or access a wallet to store cryptocurrencies. You will not give the Company any of Your assets, and Your tokens and cryptocurrency are not in possession of the Company. All assets are on the blockchain itself, and we do not control them. The Company does not collect or hold Your keys or information, and the Company cannot access wallets; recover keys, passwords, or other information; reset passwords; or reverse transactions. You are solely responsible for Your use of the Services, including without limitation for storing, backing-up, and maintaining the confidentiality of Your keys, passwords, and information, and for the security of any transactions You perform using the Services. You expressly relieve and release the Company from any and all liability and/or loss arising from Your use of the Services.

Supported Digital Currencies

The Company Wallet is intended solely for proper use of supported digital currencies as designated by the App, CoinFlip kiosks and the CoinFlip Order Desk. Under no circumstances should You attempt to use Your Company Wallet to store, send, request, or receive any assets other than supported digital currencies. The Company assumes no responsibility in connection with any attempt to use Your Company Wallet with digital currencies that we do not support. If You have any questions about our current list of supported digital currencies, please contact CoinFlip customer support.  In addition, You agree that the Company Wallet does not support the following: metacoins, colored coins, side chains, or other derivative, enhanced, or forked protocols, tokens, or coins or other functionality, such as staking, protocol governance, and/or any smart contract functionality, which may supplement or interact with a digital currency we support.  You acknowledge and agree that supplemental protocols are excluded from supported digital currency and that the Company has no liability for any losses related to supplemental protocols.

Ownership of Digital Currency

Title and ownership of digital currency shall at all times remain with You and shall not transfer to the Company, unless You sell the subject digital currency to the Company at two-way CoinFlip kiosk, or the CoinFlip Order Desk per the Kiosk Terms of Service and the Order Desk Terms of Service, incorporated herein.  As the owner of digital currency in Your Company Wallet, You shall bear all risk of loss of such digital currency. The Company shall have no liability for digital currency fluctuations.

Blockchain 

Due to the inherent transparency of many blockchains, transactions that individuals broadcast via the Company Wallet may be publicly accessible. This includes, but is not limited to, Your public sending address, the public address of the receiver, the amount sent or received, and any other data a user has chosen to include in a given transaction. Information stored on a blockchain may be public, immutable, and difficult or even impossible to remove or delete. Transactions and addresses may reveal information about the user’s identity and information can potentially be correlated now or in the future by any party who chooses to do so, including law enforcement. Users are encouraged to review how privacy and transparency on the blockchain works.

Secret Recovery Phrase

When You create a Company Wallet, You are given Your 12-word Secret Recovery Phrase. The Company does not control any of Your personal or private data on our servers. Everything is encrypted in Your browser and protected via Your Company password. If You lose Your Company account, mobile phone, tablet, or computer, and need to restore Your Company Wallet, You can only do that with Your Secret Recovery Phrase.  The Company Wallet is not a cloud-based solution.  If Your device breaks, is lost, stolen, or has data corruption, there is no way for the Company’s support team to recover this for You.  This Secret Recovery Phrase is the only way to recover Your Company Wallet.  Anyone who has Your Secret Recovery Phrase or private keys could send digital currency from Your accounts. Never share them with anyone, including the Company team. We will never ask for You to provide this. If someone claims that we do, insist on not sharing. Please report to Us the person who claims to be a Company team member and asks for Your Secret Recovery Phrase and/or private keys.

Electronic Records Disclosure and Consent Agreement

Please read this Electronic Records Disclosure and Consent Agreement (“E-Sign Agreement”) carefully and download or print a copy for Your records. By accessing the Services and scanning Your wallet or completing Your transaction, You consent to the electronic delivery of communications and agree to be bound by the terms of this E-Sign Agreement.

Electronic Application and Related Disclosures

South African laws and regulations may require Us to give You certain important disclosures in writing relating to Your use of the Services. Without Your consent, We are not permitted to give You these disclosures electronically. These disclosures include, but are not limited to, transaction receipts, privacy notices, payment authorizations, and other disclosures regarding Your legal rights and obligations relating to Your use of the Service, which are required by law to be provided in writing (the “Disclosures”).

Requesting Paper Copy of Disclosures

At Your request, We will provide a copy of Your Disclosures and agreement in paper-based media. To request a paper copy of Your Disclosures, contact Us at +27638742768 or [email protected]. We will not charge You any fees for providing a paper copy.

Your Consent is Required

You must consent to receiving the Disclosures electronically in order to use the Services. If You do not want to receive the Disclosures electronically, You may not use the Services.

System Requirements

To receive Disclosures electronically, You must have the following:

A mobile phone capable of receiving SMS and MMS messages.

A personal computer, or other access device which is capable of accessing the Internet (e.g., You must have a cable Internet connection or some other means of access to the Internet, and You must have an active account with an Internet service provider), and which can receive HTML files;

A valid email address and, if You use a spam filter that blocks our re-routes emails from unknown senders, You must permit messages from the @CoinFlip.za.com domain in Your spam filter.

A current version of a program that accurately reads and displays PDF files (e.g., Adobe Acrobat Reader);

An Internet web browser which is capable of supporting 128-bit SSL encrypted communications;

128-bit SSL encryption software;

Storage space to download (to Your hard disk, mobile device, or other device) or print the Disclosures; and

Access to the Company App.

Your access to this page verifies that Your system, browser and encryption software meet these requirements.

Updating Your Information

You must keep Us informed of any change in Your contact information, in particular Your telephone number or Your mailing address. You may contact Us to tell Us about these changes by e-mail at [email protected]. We will not assume liability for non-receipt of notification of availability of electronic Documents in the event Your mobile number, email address or other contact information on file is invalid; Your email or Internet service provider filters the notification as “spam” or “junk mail”; there is a malfunction in Your computer, mobile device, browser, Internet service, mobile connectivity and/or software; or for other reasons beyond our control.

Withdrawing Consent

You are free to withdraw Your consent to this E-Sign Agreement at any time. To do so, please submit a request to withdraw Your consent by phone at  +27638742768 or via email to [email protected]. Any withdrawal of Your consent will be effective after a reasonable period of time for processing Your request. The legal effectiveness, validity and enforceability of Disclosures that were previously provided or signed electronically will not be affected. If You withdraw Your consent, We declare all amounts You owe Us immediately due and payable, and We may close or limit access to the Services. You agree to pay any amount You owe Us even if You withdraw Your consent or We close or limit access to the Services.

Acceptance of E-Sign Agreement and Consent to Receive Electronic Disclosures. By accessing the Services, You confirm that:

You agree to be bound by the terms of this E-Sign Agreement;

The Internet access device(s) You will use to complete Your on-line application and to receive the Disclosures meet(s) the system requirements described above;

You consent to receiving the Disclosures electronically to any email address or mobile telephone number You have provided or made available to us;

The Disclosures that We provide electronically have the same meaning and effect as if provided in paper form; and

To the extent permitted by applicable law, your electronic acceptance or signature on any agreement or document has the same effect as if You signed it in ink.

Contact Us

CoinFlip South Africa

PO Box 16995 Lyttelton,

Centurion, Gauteng 0140

Complaints Management Policy

OVERVIEW

1.1              In terms of the General Code of Conduct for Authorised Financial Services Providers and Representatives, as amended (“General Code”), promulgated in terms of the Financial Advisory and Intermediary Services Act, 2002 (“FAIS Act”), CoinFlip South Africa (Pty) Ltd (“CoinFlip SA”), as a financial services provider (“FSP”) licensed by the Financial Sector Conduct Authority (“FSCA"), is required to have in place an effective and efficient complaints management framework.

1.2              Pursuant to the General Code, the Board of Directors (“Board”) has adopted this Policy as CoinFlip SA’s complaints management framework to ensure the effective resolution of complaints and the fair treatment of complainants.

1.3              The purpose of this Policy is to set out the process for the handling of complaints and complainants feedback when complainants are not satisfied with the services rendered by CoinFlip SA and to document key roles and responsibilities concerning complaints.

2.  DEFINITIONS

2.1              "complainant" means a person who submits a complaint and may include a:

(a)   client / customer;

(b)   person nominated as the person in respect of whom a product supplier should meet financial product benefits or that persons’ successor in title; 

(c)   person whose life is insured under a financial product that is an insurance policy;

(d)   person that pays a premium or an investment amount in respect of a financial product;

(e)   member; or

(f)    person whose dissatisfaction relates to the approach, solicitation marketing or advertising material or an advertisement in respect of a financial product, financial service or related service of the FSP, who has a direct interest in the agreement, financial product or financial service to which the complaint relates, or a person acting on behalf of a person referred to in (a) to (f).

2.2              “complaint” means an expression of dissatisfaction by a person to an FSP or, to the knowledge of the FSP, to the FSP’s service supplier relating to a financial product or financial service provided or offered by that FSP which indicates or alleges, regardless of whether such an expression of dissatisfaction is submitted together with or in relation to a client query, that:

(a)   the FSP or its service supplier has contravened or failed to comply with an agreement, a law, a rule, or a code of conduct which is binding on the FSP or to which it subscribes;

(b)   the FSP or its service supplier’s maladministration or wilful or negligent action or failure to act, has caused the person harm, prejudice, distress or substantial inconvenience; or

(c)   the FSP or its service supplier's has treated the person unfairly.

2.3              "compensation payment" means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an FSP to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the FSP's contravention, noncompliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the FSP accepts liability for having caused the loss concerned, but excludes any (a) goodwill payment; (b) payment contractually due to the complainant in terms of the financial product or financial service concerned; or (c) refund of

an amount paid by or on behalf of the complainant to the FSP where such payment was not contractually due; and includes any interest on late payment of any amount referred to in (b) or (c);

2.4              "goodwill payment" means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an FSP to a complainant as an expression of goodwill aimed at resolving a complaint, where the FSP does not accept liability for any financial loss to the complainant as a result of the matter complained about;

2.5              “fraud” means a deliberate, wrongful and/or criminal deception intended to result in unfair and/or unlawful financial or personal gain. Fraud generally means an act of deception, bribery, forgery, extortion, theft, misappropriation, false representation, conspiracy, corruption, collusion, embezzlement, or intentional concealment or the omission of material facts. Fraud also encapsulates expenditures and liabilities for improper purposes; bribery and kickbacks; the intentional and willful making of any other material misrepresentations; and misstatement, misrepresentation, or omission that cannot be corrected and that was relied upon by CoinFlip SA or any other person or entity to make a sale, purchase, or to take part in contractual relationship.

2.6              "rejected" in relation to a complaint means that a complaint has not been upheld and the FSP regards the complaint as finalised after advising the complainant that it does not intend to take any further action to resolve the complaint and includes complaints regarded by the FSP as unjustified or invalid, or where the complainant does not accept or respond to the FSP's proposals to resolve the complaint.

2.7              "reportable complaint" means any complaint other than a complaint that has been: (a) upheld immediately by the person who initially received the complaint; (b) upheld within the FSP's ordinary processes for handling client queries in relation to the type of financial product or financial service complained about, provided that such process does not take more than five business days from the date the complaint is received; or (c) submitted to or brought to the attention of the FSP in such a manner that the FSP does not have a reasonable opportunity to record such details of the complaint as may be prescribed in relation to reportable complaints.

2.8              "upheld" means that a complaint has been finalised wholly or partially in favour of the complainant and that: (a) the complainant has explicitly accepted that the matter is fully resolved; or (b) it is reasonable for the FSP to assume that the complainant has so accepted; and (c) all undertakings made by the FSP to resolve the complaint have been met or the complainant has explicitly indicated its satisfaction with any arrangements to ensure such undertakings will be met by the FSP within a time acceptable to the complainant.

 3. SCOPE

3.1              This Policy applies to all CoinFlip SA’s products, services, and operations, including without limitation:

3.1.1                 Virtual currency purchases and sales;

3.1.2                 Virtual currency loans;

3.1.3                 Virtual currency storage;

3.1.4                 Account creation and maintenance;

3.1.5                 CoinFlip provided digital wallet addresses; and

3.1.6                 CoinFlip administration.

3.2              This Policy applies to the following, referred to as “Covered Persons:”

3.2.1                 CoinFlip SA;

3.2.2                 CoinFlip SA’s employees, directors, and officers;

3.2.3                 CoinFlip SA’s vendors and contractors;

3.2.4                 CoinFlip SA’s service providers; and

3.2.5                 CoinFlip SA’s consultants. 

 4. ALLOCATION OF RESPONSIBILITIES

4.1              In respect of the allocation of responsibilities for dealing with complaints across the business of CoinFlip SA (with the objectives and key principles of effective complaints management determining those allocations):

4.1.1                 The Board together with the key Individuals of CoinFlip SA are responsible for effective complaints management and must approve and oversee the effectiveness of the implementation of the Policy.

4.1.2                 The Compliance Officer is responsible for the implementation of this Policy, the supervision and adherence to this Policy, and identifying any needed changes or remedial actions as a result of a complainant’s complaint.

4.1.3                 The Customer Service Department is responsible for receiving and documenting complainants’ complaints via telephone and email. The Customer Service Department will analyse the complainant’s complaint and determine whether to escalate it to the Legal and Compliance teams. If there is no need for escalation, the Customer Service Department shall reply directly to a complainant’s complaint.

4.1.4                 The Internal Investigation Department is responsible for, at the direction of the Board or in consultation with the Compliance Officer, assisting in investigations of non-compliance under this Policy, including investigations of complaints and significant suspected fraudulent or non- compliant activities within CoinFlip SA, and reports the findings and conclusions to the Company’s senior management and the Board.

4.1.5                 The Compliance Department is responsible for investigating complaints relating to fraud. The Compliance Department will report their findings to the Legal Department.

4.1.6                 The Compliance Officer is responsible for investigating any complaints relating to money laundering, terrorist financing or suspicious activities, which will be dealt with in terms of CoinFlip SA’s Risk Management and Compliance Programme.

4.1.7                 The Compliance Officer will respond to any complaints from complainants that are escalated for review by the Legal Department, respond to any inquiries from the FSCA, and report any necessary facts to FSCA as required by law.

 5. COMPLAINTS PROCESS

5.1              CoinFlip SA is committed to resolving complainants’ complaints in a manner which is effective, timely and fair. In ensuring that its complaint processes and procedures are transparent, visible and accessible, this Policy is publicly available at www.olliv.co.za.

5.2              Should a complainant have a complaint, he or she inform us immediately. The complainant may direct complaints in writing to the Customer Service Department at the following email address: [email protected] or [email protected], alternatively telephonically at 063 874 2768

5.3              In making any complaint, the complainant must provide us with all relevant information to enable us to assist them efficiently. The complaint should contain sufficient facts, dates and supporting documentation (where applicable). The complaint should also include complainant’s name, identity number and contact details.

5.4              Should the complainant submit a complaint via email, the representative from the Customer Service Department dealing with the complaint will acknowledge receipt as soon as possible but not later than 72 business hours.

5.5              The representative from the Customer Service Department dealing with the complainant’s complaint (whether submitted via email or telephonically) will promptly and thoroughly investigate the contents of the complaint to determine what response is necessary and ask for additional information if necessary. The complaint will be logged in the case management system, which consists of a ticket logged in CoinFlip’s JIRA system along with a local record kept in spreadsheet form.

5.6              The representative from the Customer Service Department dealing with the complaint will determine whether the complaint needs to be sent to the Compliance Officer for further review. If the complainant requests information that has already been provided to the complainant, it shall not be escalated to the Legal Department. The Customer Service Department representative shall respond to the complainant’s complaint and log its response in the case management system. If the Customer Service Department determines that the complaint involves a legal issue, it will be escalated by logging a ticket to the Legal Department via the case management system.

5.7              A Legal Department attorney shall then promptly and thoroughly investigate the contents of the complaint, with the assistance of the Compliance Department. If the Legal Department attorney determines that the complaint requires a legal response, the Legal Department attorney shall respond to the complaint. If the assigned attorney determines that the complainant’s complaint does not require a legal response, the attorney shall reassign the complaint to the Customer Service Department which will then respond to the complainant.

5.8              The person dealing with the complainant’s complaint (whether it is a representative from the Customer Service or the Legal or Compliance Departments) will resolve the complaint and provide feedback (together with clear and adequate reasons, should the complaint be rejected for whatever reason) within 10 business days, provided that we have all the information we require in order to consider the complaint.

5.9              The person dealing with the complaint (whether it is a representative from the Customer Service or the Compliance Officer) will provide the complainant with feedback as to progress (including in relation to any delays concerning the finalisation of the complaint) at least every 5 business days until such time that the complaint has been resolved (by way of being upheld or otherwise) or rejected.

5.10            Should the complainant not be satisfied with the resolution (by way of the complaint being upheld or otherwise) or rejection, as the case may be, of the complaint, the complainant is entitled to escalate the complaint internally, by way of email, to the Compliance Officer for review at [email protected] within 10 business days.

5.11            Should the matter still not be resolved following the process directly above, or should the complainant otherwise still not be satisfied as to the resolution of the complaint, the complainant has the right to approach the Ombudsman for Financial Services Providers (“Ombud”) within 6 months.

5.12            CoinFlip SA’s Compliance Officer will maintain open and honest communication / cooperation with the Ombud and will be responsible for engaging with the Ombud in relation to all complaints and will endeavour to resolve a complaint before a final determination or ruling is made by the Ombud, or through its internal escalation process, without impeding or unduly delaying a complainant's access to the Ombud.

5.13            The Ombud’s contact details are as follows:

5.13.1               Physical Address: Menlyn Central Office Building, 125 Dallas Avenue, Waterkloof Glen, Pretoria 0010.

5.13.2               Telephone: +27 12 762 5000 / +27 12 470 9080 

5.13.3               Web: www.faisombud.co.za

5.13.4               Email: [email protected]

5.14            Where the complaint is upheld, any commitment by CoinFlip SA to make a compensation payment, goodwill payment or to take any other action will be carried out without undue delay and within any agreed timeframes.

6. CATEGORISATION OF REPORTABLE COMPLAINTS

6.1              CoinFlip SA will categorise reportable complaints in accordance with the following minimum categories:

6.1.1                 complaints relating to the design of a financial product, financial service or related service, including the fees, or other charges related to that financial product or financial service;

6.1.2                 complaints relating to information provided to clients;

6.1.3                 complaints relating to advice;

6.1.4                 complaints relating to financial product or financial service performance;

6.1.5                 complaints relating to a service to clients;

6.1.6                 complaints relating to financial product accessibility, changes or switches, including complaints relating to redemptions of investments;

6.1.7                 complaints relating to complaints handling; and

6.1.8                 other complaints.

6.2              CoinFlip SA must categorise, record and report on reportable complaints by identifying the categories to which a complaint most closely relates and group complaints accordingly in terms of the process set out in paragraphs 7.3 and 7.4 below.

 7. RECORD KEEPING, MONITORING AND ANALYSIS OF COMPLAINTS

7.1              All records associated with complaints, complaint investigations, complaint-related reports, and all other complaint-related records created or obtained in connection therewith, will be maintained for the applicable policy period identified in CoinFlip’s Record Retention Policy.

7.2              In ensuring accurate, efficient and secure recording of complaints and complaints-related information, CoinFlip SA ensures that it records in the case management system the following in respect of each reportable complaint received:

7.2.1                 all relevant details of the complainant and the subject matter of the complaint;

7.2.2                 copies of all relevant evidence, correspondence and decisions;

7.2.3                 the complaint categorisation; and

7.2.4                 progress and status of the complaint, including whether such progress is within or outside any set timelines.

7.3              CoinFlip SA will also log and keep track of all reportable complaints received so that CoinFlip SA is able to generate reports as required. The following data will be retained in relation to complaints received:

7.3.1                 number of complaints received; 

7.3.2                 number of complaints upheld;

7.3.3                 number of rejected complaints and reasons for the rejection;

7.3.4                 number of complaints escalated by complainants in terms of the internal complaints escalation process;

7.3.5                 number of complaints referred to the FAIS Ombud and their outcome;

7.3.6                 number and amounts of compensation payments made;

7.3.7                 number and amounts of goodwill payments made; and

7.3.8                 total number of complaints outstanding.

7.4              Recorded complaints information will be monitored and analysed by the Compliance Officer on an ongoing basis and will be utilised to manage risks and effect improved outcomes and processes for clients, and to prevent recurrences of poor outcomes and errors. To this end, the Compliance Officer will report to the Board on reportable complaints on an annual basis (and ad hoc basis, as and when required) in respect of the identified risks, trends and actions taken in response thereto, as well as the effectiveness and outcomes of the complaints management framework.

 8. ENGAGEMENT WITH OMBUD

8.1              CoinFlip SA will maintain specific records and carry out specific analysis of complaints referred to them by the Ombud and the outcomes of such complaints; and

8.2              CoinFlip SA will monitor determinations, publications and guidance issued by any relevant Ombud with a view to identifying fallings or risks in their own policies, services or practices.

 9. REPORTING COMPLAINTS INFORMATION

9.1              The Compliance Officer will prepare and submit complaint-related responses to regulator inquiries (including but not limited to the FSCA) as required by applicable laws and regulations (including but not limited to the FAIS Act and the General Code).

9.2              CoinFlip SA will also report complaint-related information to the public as may be required by the FSCA in terms of applicable laws and regulations (including but not limited to the FAIS Act and the General Code).

 10. TRAINING

10.1            The Compliance Officer will develop, coordinate, and provide ongoing training as required by this Policy and related laws and regulations (including but not limited to FAIS and the General Code).

10.2            Training may be in such format as necessary to effectuate full compliance with this Policy and related laws and regulations (including but not limited to FAIS and the General Code).

10.3            Training in respect of compliance with this Policy, the FAIS Act and the General Code, insofar as complaints are concerned, will be provided to employees (at induction), representatives and key individuals (on appointment) of CoinFlip SA will be provided by the Compliance Officer. Refresher training will also be conducted annually.

 11. DELEGATION OF DUTIES

11.1            The General Counsel and the Compliance Officer may delegate their duties and functions under this Policy to employees within their respective departments.

12. CONFIDENTIALITY

12.1            CoinFlip SA will maintain any complaint (including any related report) in terms of this Policy, and any such supporting documentation, as confidential in accordance with applicable law, and otherwise to the extent reasonably possible.

12.2            All Covered Persons shall refrain from discussing any complaint (including any related report) with any individual outside of CoinFlip SA and shall share any such information on a need-to-know basis only, except as specifically required or permitted in this Policy or FAIS (including the General Code).

12.3            Further, any Covered Person who is subpoenaed or otherwise required to make disclosures about a complaint (including any related report) will report the existence of that subpoena or requirement immediately (and prior to disclosure of the information) to the General Counsel and Chief Compliance Officer prior to disclosure of the information, unless otherwise restricted by the terms of subpoena from reporting the subpoena. The General Counsel or their designee will evaluate any subpoena or requirement under this Policy.

 13. INTERNAL AND EXTERNAL REFERENCES

13.1            CoinFlip SA’s Risk Management and Compliance Programme;

13.2            CoinFlip Record Retention Policy; and

13.3            CoinFlip Consumer Protection Policy.

 14. ADMINISTRATIVE INFORMATION

14.1            This Policy has been approved by the Board.

14.2            This Policy will be reviewed by the Compliance Officer on an annual basis.

14.3            The Board may approve amendments to this Policy at any time. In addition, the Compliance Officer may approve amendments to this Policy at any time.

14.4            Amendments to this Policy by the Board or the Compliance Officer must be documented in the table below. After approval or amendment of this Policy, the responsible entity or person should provide the date of approval or amendment, who approved the policy or amendment, and include a brief description of any change.