As used herein, “GEMUL” refers to the company GEMUL OU, including but not limited to, its owners, directors, investors, officers, employees, agents or other related parties, unless otherwise provided herein.
The User is solely responsible for understanding and complying with any and all laws, rules and regulations of his/her specific jurisdiction that may be applicable to the User in connection with the use of any and all services, products and content of GEMUL.
1.1.1. Account: means the personal cabinet of the verified User, where the transactions history and personal data can be seen and uploaded.
1.1.2. Buyer: means the User who purchase virtual currency for fiat currency through the Platform.
1.1.3. Commission: means a fee charged by or on behalf of any third party (e.g. bank, non-bank financial institution, payment service provider, etc).
1.1.4. Fiat currency: means government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law.
1.1.5. Funds: means virtual currency, or fiat currency.
1.1.6. ML/TF Prevention Act – Money Laundering and Terrorist Financing Prevention Act of Estonia, with amendments from 31st of December 2019.
1.1.7. Not supported countries – a list of countries which are not supported by the platform, i.e. Afghanistan, American Samoa, Austria, Bahamas, Bosnia and Herzegovina, Botswana, Burundi, Cambodia, Central African Republic, Congo, the Democratic Republic, Cuba, Ethiopia, Gaza Strip, Germany, Ghana, Guam, Guinea Bissau, Guyana, Iran, Islamic Republic of, Iraq, Japan, Lao People’s Democratic Republic, Lebanon, Libya, Mali, Myanmar, Netherlands, Nicaragua, Nigeria, North Korea, Pakistan, Panama, Puerto Rico, Samoa, Serbia, Singapore, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Trinidad & Tobago, Tunisia, Uganda, United States of America, US Virgin Islands, Venezuela, West Bank (Palestinian Territory, Occupied), Yemen, Zimbabwe.
1.1.8. Platform: means an environment that allows exchanging fiat currencies for virtual currencies.
1.1.9. Purchase: means the User’s instruction to buy virtual currency on specific conditions for fiat currency provided by the User and transfer it to the wallet specified in advance.
1.1.10. Services: means all and any service provided by GEMUL.
1.1.11. Site: means GEMUL website at https://GEMUL
1.1.12. Transaction fee: means a fee which is payable to GEMUL for each completed Transaction.
1.1.13. Transaction Price: means the total price paid by the Buyer in respect to each Transaction performed via the Service.
1.1.14. Transaction: means the transfer of virtual currency to the wallet specified by Buyer after the receipt of the specified fiat equivalent from the User was guaranteed.
1.1.16. Virtual currency: means a value represented in the digital form, which is digitally transferable, preservable or tradable and which natural persons or legal persons accept as a payment instrument, but that is not the legal tender of any country (e.g. cryptocurrencies such as BTC, USDT.)
1.1.17.Widget: stand-alone software solution which provides the User with an alternative access to the GEMUL’s Services from the web portals or cash-in terminals of the third parties.
1.2.Where the context so admits words denoting the singular shall include the plural and vice versa.
2. THE SCOPE OF THE SERVICES
2.1.The Services allow all users to buy virtual currencies for fiat currencies.
2.2.The Services can be provided via third-parties web portals or cash-in terminal interface. Legal entities may use the GEMUL’s Widget to provide their end-users with direct access to GEMUL Services by the placement of the Widget on their web portals or cash-in terminal’s interface either as GEMUL’s software or white-label solution. In this case, the relevant agreement on the Mutual Services must be signed with every legal entity.
2.3 .Depending on the User’s place of residence, the User may not be able to use the services of the Platform. It is the User’s responsibility to follow those rules and laws in his/her place of residence and/or place from which the User accesses this Site.
2.4. Considering the nature of virtual currency wallet addresses, the possibility to refund, re-enter or change a wallet address once a transaction is initiated is absent. Users are obliged to understand this and agree on the terms prior to initiating any transactions.
3. USER RIGHTS AND RESPONSIBILITIES
3.3. The User undertakes to comply with any and all applicable laws and regulations related to the use of the Services.
3.5. The User undertakes to monitor all and any changes in transaction flow, including but not limited to the necessity to provide additional information and documents to support the Transaction.
3.7. It is prohibited for a User to have more than one account. A user is solely responsible for non- disclosing confidential information and for the security of that User’s account, including but not limited to, password, protecting all activity and transactions history that are located on that account.
3.8. The User agrees that, whenever the Transaction is made, the Platform sends and receives the monetary sums from the Buyer and sends virtual currencies to the wallet specified by the Buyer.
3.9. The User undertakes to notify GEMUL immediately of any unauthorized use of his/her credentials or any other breach of security by email addressed to support@GEMUL. Any User who violates the mentioned rules may be terminated, and thereafter held liable for any losses incurred by GEMUL or any user of the Platform.
3.10. The User undertakes not to use the Services to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, financing terrorist organizations, or malicious hacking.
3.11. The User is responsible for any and all damages caused, and all liability actions brought against GEMUL for infringement of any third-party rights or violation of any applicable laws.
3.13. Users are solely responsible for determining whether any contemplated Transaction is appropriate for them based on their personal goals, financial status and risk willingness.
3.14. All payment instruments used during the Transaction, may it be a bank account, credit card, debit card, or others must be named after the User. Any attempt otherwise will be considered as fraud.
4. USER REPRESENTATIONS AND WARRANTIES
4.1. By performing Transaction, the User expressly represents and warrants that he/she:
4.1.1. follows the rules and laws in his/her country of residence and/or country from which he /she accesses this Site or Widget and Services;
4.2. The User represents and warrants that he/she will only use the Platform to perform Transactions in accordance with the conditions set forth in these Terms and that they are duly authorised and have the capacity to enter into the Transactions on the Platform.
4.3. The User represents and warrants that fiat currency funds used to Purchase virtual currency belong to the User and derived from legal sources.
4.4. The User represents and warrants that all Transactions being carried out do not violate the rights of any third party or applicable laws.
4.5. The User understands that his personal data and identifiers may be shared with appropriately authorised third parties, due to legal obligations such as prevention of crimes and tax purposes and/or to provide the service requested by the User.
5. GEMUL’S RIGHTS AND RESPONSIBILITIES
5.3. GEMUL ‘s responsibility shall be limited to using reasonable technical efforts to ensure the receipt of the virtual currency transferred. When initiating virtual currency transactions to the wallet address provided by the User, GEMUL responsibility shall be further limited to ensuring the transfer of the necessary technical data to the virtual currency network.
5.5. GEMUL is not responsible for any damages, loss of profit, loss of revenue, loss of opportunity, an indirect or consequential loss which was incurred by the User as a result of the use of third party’s services, including those entities which have placed GEMUL’s Widget to their web portal or cash-in terminal interface and signed the relevant agreement on the Mutual Services.
5.6. GEMUL is not responsible for any malfunction, breakdown, delay or interruption of the Internet connection or any reason why our site is unavailable at any given time.
5.7. GEMUL is not responsible for the delay in the processing of payments made by the fault of any third parties, operators of such transactions.
5.8. In the case of fraud or other illegal activity, GEMUL undertakes to report all the necessary information, including names, addresses and all other requested information, to the relevant authorities dealing with fraud and breaches of the law. The Users recognize that their account or transaction may be frozen at any time at the request of any competent authority investigating a fraud or any other illegal activity.
5.9. Nothing in these terms excludes or limits the responsibility of GEMUL for fraud, death or personal injury caused by their negligence, breach of the terms implied by operation of the law or any other liability which may not be limited or excluded by law.
6. INTELLECTUAL PROPERTY RIGHTS
6.1. All content on this Site and Widget is the property of GEMUL and is protected by copyright, patent, trademark and any other applicable laws, unless otherwise specified hereby.
6.2.The trademarks, trade names, service marks and logos of GEMUL and others used on the Site and Widget (hereinafter the “Trademarks”) are the property of GEMUL and its respective owners. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this Site belong to GEMUL. The Trademarks and other content on the Site should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated. The use of any content from the Site on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties.
6.3. GEMUL supports the protection of intellectual property. If you would like to submit (i) a trademark claim for violation of a mark on which you hold a valid, registered trademark or service mark, or (ii) a copyright claim for any material on which you hold a bona fide copyright, please send us an email to support@GEMUL
7. USER VERIFICATION
7.1. Identification and verification procedures (also known as ‘Know Your Customer’ or ‘KYC’) are required for all Transactions, unless the transaction is considered occasional in the meaning of Section 19 of the ML/TF Prevention Act and is made under the threshold limit set by the AML/CFT Program. If the User refuses to provide required documents and information under KYC, including additional information that can be requested after the business relationships were established, GEMUL reserves the right to immediately terminate the Services provision to the User.
7.2. The User hereby authorises GEMUL to, directly or indirectly (through third parties), make any inquiries as considered necessary to check the relevance and accuracy of the information provided for verification purposes. Personal Data transferred will be limited to strictly the necessary and with security measures in use to protect the data.
8.1. The Platform allows the User to Purchase virtual currencies via Site or Widget.
8.2. The User recognizes that the payment order should only be submitted after careful consideration and the User understands and accepts consequences of its execution. The User agrees that as soon as the payment order is executed, such transaction is irreversible and may not be cancelled. Transactions will be executed instantly and will be considered to have taken place at the execution date and time.
8.3. The User acknowledges and agrees that Transaction may be delayed due to KYC verifications and other checks. Similarly, and due to the inherent nature of the virtual currency networks, the User acknowledges and agrees that transfer of virtual currency to the specified wallet may take some time.
8.4. In case if the User discovers transaction activity that was not initiated by the User, the User shall immediately notify GEMUL of this fact and follow the instructions sent by GEMUL. Otherwise, GEMUL reserves the right to freeze the funds until the end of investigation.
8.5. GEMUL may be forced to cancel or recall already executed Transaction at a request of financial institutions, including but not limited to banks, which are involved in settlement of such Transactions. In such cases the User is obligated to cooperate with GEMUL in order to discover the reasons for such request.
9. TRANSACTION FEE
9.1. GEMUL reserves a right to set Transaction Fees at its discretion
9.2. GEMUL has no control over the exchange rate, processing fee and any other fees imposed by a User’s card issuer. Therefore, GEMUL bears no responsibilities for these extra costs
9.3. A User agrees to pay GEMUL the Transaction fee for each completed Transaction.
10. ROUNDING POLICY
10.1. For all financial calculations, GEMUL uses the rounding policy in favor of the Platform. GEMUL rounds the Fiat currencies to the 2nd digit after the separator. The Rounding policy for virtual currency varies depending on particular virtual currency.
10.2. For the purpose of the processes optimization, transactions on the Platform with regard to some items (including, but not limited to currencies, cryptocurrencies, etc.) may not be reflected at the User’s Account and will appear as soon as a unit is whole in accordance with the rounding standards.