Thank you for choosing Kabru Services, UAB (“Company” or “we”).
This document, together with the information you provided to us
during the onboarding process, is part of the agreement between you
("Customer") and the Company. It contains important information
regarding your rights and obligations, as well as conditions,
limitations and exclusions that might apply to you in relation to
our services ("Services"), please read it carefully. By signing up
through our website or via our
mobile application ("Website" or "Platform") you agree that you have
read, understood, and accepted all of the General Terms and
Conditions ("Terms"). You also agree that the Terms are concluded in
English.
1.1. The Company reserves the right to amend, modify, change, or
revise these Terms at any time, in its sole and absolute discretion
and without prior notice. Any such changes in respect of your use of
the Services will take effect when posted on the Website or
Platform. We will notify you by email that the Terms have been
revised. If you do not agree to the Terms of the revised document,
your sole and exclusive remedy is to promptly terminate your use of
the Services and close the account.
1.2. All documents and information as described further,
incorporated into these Terms by reference, are integral parts of
the Terms and together constitute one document ("Agreement") and are
legally binding to you. The aforementioned documents and information
are available on the Website.
1.3. The Company reserves the right to solely select its markets and
jurisdictions to operate and may restrict or deny its Services to
certain customers, countries, and jurisdictions.
1.4. The Services allow you to make deposits and withdrawals in
Virtual Currencies or exchange them into Fiat Currencies and make
deposits and withdrawals in Fiat Currencies and Exchange them into
Virtual Currencies.
2.1. Use of the Platform and/or the Services is limited to legal
entities and their representatives and natural persons above 18
years old. The representatives of legal entities must also be 18
years old or older and have full legal capacity to lawfully enter
and form contracts under applicable law.
2.2. The following persons (including their beneficiaries) cannot
use the Website and the Services:
2.2.1. Persons - who are on any trade, financial or economic
sanctions lists;
2.2.2. Persons - who intend to use the Website and the Services for
any illegal activity, including, but not limited to, money
laundering and the financing of terrorism;
2.2.3. Persons who fail to meet any Customer due diligence
standards, requests or requirements of the Company and/or are deemed
to pose an unacceptably high risk according to criteria established
at the sole discretion of the Company;
2.2.4. Persons who have previously been rejected or deleted from
using the Platform and the Services and/or violated these Terms of
Service;
2.3. By accessing and using the Website and any of the Services, you
acknowledge, declare, and expressly represent and warrant that none
of the aforementioned circumstances of eligibility is applicable to
you.
2.4. To use the Services, including any or all functionalities of
the Website, we require you to register - on the Website and provide
any requested information. As part of our registration procedure, we
will conduct a verification process to the extent we deem necessary
and verify your identity and eligibility to use our Services or the
Website.
2.5. You further represent and warrant that:
2.5.1. (for legal entities) the legal entity is duly organised and
validly existing under the applicable laws of the jurisdiction of
its organisation.
2.5.2. (for representatives of legal entities) you are duly
authorised by such a legal entity to act on its behalf.
2.5.3. (for natural persons) you are 18 years old or older and have
full legal capacity to lawfully enter and form contracts under
applicable law.
2.6. The verified account is specific to that person and can only be
used by the person who registered it. Accounts are not allowed to be
shared with or used by other individuals or entities.
2.7. We will establish an account for you or continue the provision
of the Services only after the verification process has been
completed. The extent of verification depends on your overall
risk-profile.
2.8. The Company, at its sole discretion and without indicating the
reasons, may refuse to register you or open an account for you at
any time.
2.9. For your identification and for the Company to comply with
legal requirements, you are required to provide the Company with
certain personal information, answer certain questions and take
certain actions. By submitting this or any other personal
information as may be required, you verify that the information is
accurate and authentic, and you agree to update the Company if any
information changes. You will thereby authorise the Company to,
directly or through third parties, make any inquiries the Company
considers necessary to verify your identity and/or to protect
against fraud or detect money laundering, financing of terrorism or
any other financial crime. Failing to comply with the requirements
set out in this article will be considered a valid reason to suspend
your account.
2.10. Upon registration on the Website and afterwards you must
present only truthful, correct, accurate and complete data about the
natural or legal entity, its representatives, and beneficiaries. You
are responsible for any losses that occur regarding the submission
of invalid/incorrect data. You unconditionally warrant that any
information, data and/or content you provide for us:
2.10.1. is truthful, correct, accurate, complete, and not misleading
or otherwise deceptive.
2.10.2. does not infringe the intellectual property rights of the
Company or any third party such as copyright, patent, trademark,
trade secret or other.
2.10.3. does not infringe proprietary rights, rights of publicity or
privacy.
2.10.4. does not violate any law, statute, or regulation.
2.10.5. will not create any liability for the Company. Failing to
comply with the requirements set out in this clause will be
considered a valid reason to suspend the provision of the Services
for your account and freeze your funds or terminate the business
relationship with you.
2.11. During registration and at any time after registration, you
must, at our request, provide the Company with all the required
documents and information within the time limit and in the required
format (including, but not limited to certified, apostilled, or
notarized copies) specified by the Company at your own expense. You
acknowledge and agree that you have the obligation to keep all
information provided up to date and will promptly inform the Company
about any amendments of the documents and information previously
submitted by you to the Company.
2.12. Verification of your account will be determined at our sole
discretion. Failure to completely verify your account may result in
account closure and such a decision will be made by us at our sole
discretion and, where applicable, a statutory action will be taken
against you.
2.13. You are responsible for all activities that occur under your
account, all damages caused and accept all risks of any authorised
or unauthorised access to your account to the maximum extent
permitted by law.
2.14. the Company reserves the right to suspend or close the
accounts if the Company suspects or detects any of the following:
2.14.1. the account or Services are or may be used for any illegal
activity, in an unauthorised or fraudulent manner.
2.14.2. the account is or may be used by persons other than the
persons whose names they are registered under.
2.14.3. the Customer has violated these Terms (including any
documents incorporated herein by reference).
2.15. the Company also reserves the right to suspend or close the
accounts if:
2.15.1. such action must be taken under the applicable law or under
any official authority request or recommendation.
2.15.2. such action must be taken under these Terms (including any
documents incorporated herein by reference).
2.15.3. the Company considers it reasonable and prudent to take such
action.
2.16. the Company will not take any legal responsibility for losses
in relation to suspension and closure of accounts or certain
Services or the freezing of funds.
3.1. The Company reserves the right to run scans and review all
Virtual Currency wallet addresses used to deposit funds to the
exchange, using suitable third-party software. For compliance
reasons (e.g. the Company has established that the customer is
carrying out a suspicious transaction; the Company knows or suspects
that assets of any value are obtained directly or indirectly from
criminal activity or participation in such activity; other
compliance related reasons) the user's account may be frozen and
therefore you, as the user, will not be able to access any funds
until an investigation is complete.
3.2. In the event we receive a customer complaint or law enforcement
enquiry with regards to potential fraud or other illegal activity on
the part of the accountholder, then we will immediately freeze the
account. Should enforcement still be pending after 12 months, or no
client resolution is received, then the accountholder will forfeit
any funds frozen.
3.3. The Company shall in no way be held liable for any potential
increases or decreases in the applicable exchange rate.
3.4. Given that the market for Virtual Currencies is relatively new,
the legal nature of Virtual Currencies is, in most jurisdictions,
yet to be determined by statute, regulation, or case law. In the
absence of such authority, it is not clear how a regulator or court
may treat interests or rights arising from trading in Virtual
Currencies.
3.5. It is your sole responsibility to determine whether, and to
what extent, any taxes apply to any transactions you conduct through
the Website. Your transaction history is available through our
Website on your personal account.
3.6. Every EUR deposit is subject to a 48-hour conversion window.
During this period, you must convert your EUR deposit into your
preferred virtual assets using our conversion tool. If a conversion
is not initiated within the 48-hour window, the funds will be
automatically returned to the account from which the deposit was
made. The fees for both the deposit and return will be deducted from
these funds. The applicable fee rates are published on our Platform,
and by making transactions (or failing to do so within 48 hours of
the deposit), you agree to pay those fees.
4.1. You agree to pay the Company fees for Services. The fees are
determined at our sole discretion and are non-negotiable. If you do
not agree with the fees, you will not be able to use the Services.
We may change the fees at any time at our sole discretion and
without your consent.
4.2. Information about the applicable fees will be clearly displayed
prior to executing a transaction. By confirming the fees online, and
clicking to execute a transaction, you accept the fees displayed and
levied.
5.1. Unless otherwise indicated by us, all materials including, but
not limited to the Company logo and all designs, text, graphics,
images, information, data, software, service marks, sound files,
other files and the selection and arrangement thereof, remain the
intellectual property of the Company and are therefore protected by
applicable intellectual property laws. The foregoing also applies to
any software solutions or parts thereof.
5.2. You are only permitted to use our intellectual property to the
extent it is reasonably necessary for you to use the Website and the
Services. It is prohibited to sell, distribute, publicly display,
modify, otherwise alter, or make any derivative use of the
materials, unless you have been granted an express and written prior
permission to do so by the Company.
6.1. We are committed to storing your wallet data, using firewalls,
antivirus software, SSL certificates to secure your account.
6.2. The Company reserves the right to carry out both scheduled and
non-scheduled maintenance of our systems, update and improve them
without notice. During maintenance the Services may be temporarily
unavailable. However, the Company is not responsible for any damages
that may result from the interference of the Services while under
maintenance.
6.3. In case of violation of your account's security, we reserve the
right to suspend access to the account so that we can ensure further
safe and comprehensive functioning of the Services. We are not
responsible for losses incurred due to such a suspension of access
to the account.
6.4. The Company will not be liable for your computer, device and/or
internet connection, operation of the Virtual Currency peer-to-peer
network and any Virtual Currency related software. It is your sole
responsibility to safeguard your account credentials, passwords and
login data as well as your email account and devices used to login
to your account and/or authorise transactions. It is your
responsibility to safeguard your email account, phone and other
means and devices that you use to login to your account and/or use
to authorise your transactions. The Company does not undertake to
secure any of these means and/or devices and will not be liable in
the event they are breached, lost, or stolen and this results in
potentially unlawful or unauthorised use of your account.
6.5. In the case of unauthorised access to your account and loss of
funds, the Company does not undertake to remunerate your losses. You
must personally refer to the competent authorities.
6.6. You are solely responsible for maintaining the confidentiality
of your account information, including your unique login ID and
password, and the use thereof. We recommend that you never share or
disclose your account information with anyone, that you secure your
password, change it from time to time, and always log out when you
are finished using the account.
7.1. These Terms are governed by and interpreted in accordance with
the laws of the Republic of Lithuania.
7.2. Any disagreements or disputes between you and the Company,
arising from the use of Services and being regulated by these Terms
will be brought before the competent courts, unless they are settled
by negotiations between the Parties. Court jurisdiction is in the
city of Vilnius, the Republic of Lithuania. If you are unhappy in
any way with your account or the way it is managed, you can contact
the support service which is available via email
support@kabru.com.
7.3. We invite you to raise your issue first by contacting our
support service before bringing any legal action before the courts.
We are committed to properly investigating your matter and, where
possible, offering you a solution. The Company will acknowledge
receipt of the complaint within 5 business days and provide a final
response within 30 calendar days from the date of submission. If
additional time is required to resolve the complaint, the Client
will be informed of the expected resolution timeframe and the
reasons for the delay.
7.4. If the Client is dissatisfied with the Company's response, they
may escalate the dispute to the Bank of Lithuania's Dispute
Resolution Division, which acts as an alternative dispute resolution
body for financial service providers in Lithuania. The complaint can
be submitted through the Bank of Lithuania's online system at
www.lb.lt/en or in writing to: Bank of Lithuania, Žalgirio g. 90,
LT-09303 Vilnius, Lithuania.
8.1. We will only use your personal information where we have a
lawful basis to do so. We will usually only use your information:
8.1.1. where it is necessary for us to create your Account and
provide our services to you.
8.1.2. in a way which might reasonably be expected as part of
running our business, and which does not materially impact your
interests, rights, or freedoms.
8.1.3. to comply with our legal obligations (fraud and money
laundering checks).
8.1.4. where you have consented to us using your data, for example,
where you subscribe to our email newsletter.
8.1.5. when you contact us.
8.2. We will disclose your information to fraud prevention agencies
for the purposes of preventing fraud and money laundering and to any
other third party if we are under a duty to disclose or share your
personal data to comply with any legal obligations, or are under an
order to enforce or apply our Terms and Conditions.
8.3. We will retain your personal information for as long as you
continue to use our Services. Thereafter, we retain your information
for an additional period as is permitted or required under
applicable laws.
8.4. If you believe that we have infringed your rights, we encourage
you to first submit a request via our support service so that we can
try to resolve the issue or dispute informally.
8.5. the Company is not liable for any indirect or consequential
damages, including, without limitation, the loss of profits. The
liability of the Company is limited to the amount which is deposited
into your account.
9.1. By opening an Account and using the Services, each customer
fully acknowledges that the Company does not provide to the customer
any investment service or advice. Each customer fully acknowledges
that any information or Service provided by us on our Website is not
considered investment advice or recommendation, and independent
professional advice should be sought where appropriate.
9.2. Your account is not a bank account, payment account, electronic
money account or interest-bearing account and it cannot be
associated with these types of accounts and their benefits.
9.3. The Company brand functions under the company Kabru Services,
UAB registration number 306058134, which is a registered Virtual
Currency Exchange and Virtual Currency Wallet Service provider in
Lithuania.
10.1. Each customer may act as a referrer (Referrer) and utilise its
experience, expertise, and contacts to refer potential customers to
the Company for the Company’s Services. All agreements for the
Company’s Services will be between the Company and the Company’s
customers. The Referrer will have no authority to enter into any
agreement with respect to the provision of the Company’s Services or
to bind the Company in any way and shall not represent to any
potential customer or any other third party that it has such
authority. To sign up for the referral program, the Referrer needs
to be a registered user on the Platform. Once logged in, the
Referrer shall navigate to the referral section in an account
dashboard and follow the instructions to get a unique referral link.
The Referrer is entitled to get referral fees only if the new
referred customer uses the link provided by the Referrer when
opening an account. The Company will not be under any obligation to
enter into an agreement with any potential customer, and any sales
of the Company’s Services will be subject to the approval of the
Company. The Terms do not obligate the Referrer to provide referral
services or any other services to the Company. The Referrer will not
be required to devote any specific amount of time to rendering
services under these Terms.
10.2. In return for providing a referral, one of, or a combination
of, referral fees, commission splits or other compensation to the
Referrer may be paid. Referrals shall only be done via a referral
link. A customer is regarded as introduced once it is onboarded to
the Company’s platform and makes a transaction within three months
from the date of onboarding (passing KYC and KYB processes). All
referral fees will be paid from the Company to the Referrer.
Referral fees are payable weekly unless a bespoke fee arrangement
has been negotiated. In this case, fees are paid within 30 days of
the end of each calendar quarter based on receipt of a VAT invoice.
Referral fees are paid on the volume of transactions and the fee
income EARNED from the referred client. The sum payable is generally
calculated as follows: Billable transactions, multiplied by the
Company’s fee rate, less the Company’s cost for providing the
services, multiplied by the commission percentage agreed.