GENERAL TERMS AND CONDITIONS FOR MERCHANTS
The following terms and conditions ("Terms") apply in connection with the cryptocurrency payment services provided through the incoin.biz website and by the INCOIN application (collectively: “Application”).
You shall accept these Terms to be able to use the Application, whereby You, as a Merchant ("You"), become capable of easily accepting the price of Your selling ("Price") through the Application in cryptocurrency payments in Your online shopping site ("Website").
Customer: the persons who purchase Goods or use Services from the online shopping site of a Merchant and balance the consideration in a cryptocurrency payment through the Application.
Merchant: the contracted partners of INCOIN who provide the opportunity to balance the consideration in a cryptocurrency payment through the Application.
Application: those cryptocurrency payment services that are provided by the incoin.biz website, whereby the Merchants may offer their Goods and Services in exchange for supported cryptocurrencies.
Merchant Account: is Your Account in the Application.
Crypto Wallet: A cryptocurrency wallet is a device, physical medium, program or a service which stores the public and/or private keys for cryptocurrency transactions e.g. MetaMask. The Application accepts Crypto Wallets from the providers listed on the incoin.biz website.
Cryptocurrency: means the supported cryptocurrencies that may be accepted through the Application by the Merchants.
Cryptocurrency payment or transfer: means payment methods when a debt (in connection with online shopping) is balanced in cryptocurrency through the Application.
Goods and Services: Goods and Services that may be offered for sale or to be carried out if the possession, sale, and distribution (export or import) or the activity as a service itself complies with the applicable laws.
The above-defined terms shall be used in these Terms regardless of whether they are capitalized or not.
II. General information and conclusion of the contract between the Parties, Registration
The Terms are to be applied between You and INCOIN (collectively: "Parties"). Please find the identification data of Incoin (“INCOIN”) in Chapter IX.
These Terms concluded between the Parties upon Your registration in the Application. By registration, You are required to get familiar with these Terms and make a statement about accepting them. Accepting these Terms, You state that You have reached the legal age of majority. If a representative creates an account on behalf of an entity, such as a legal person, the representative states that he or she has the legal authority to bind that entity to these Terms.
The concluded Terms shall be deemed a written contract, and English shall be the governing language. The concluded Terms shall be filed by INCOIN, retained at least for five years after its conclusion, and subsequently accessible to You. Moreover, You shall have Your own version with the confirmation of the registration , thereby being able to view these Terms concluded between the distant Parties. Hence, You can save or print Your own version.
You accept these Terms by ticking the checkbox containing the acceptance and registration. After You have accepted these Terms, INCOIN will send You an e-mail notification asking for confirmation. By receiving this notification, You have the opportunity to confirm Your registration. Upon the reception of this confirmation, INCOIN sends You a final e-mail to provide the information that Merchant Account has been created. These Terms are concluded between You (as a Merchant) and INCOIN as distant Parties as a result of this final acceptance e-mail by INCOIN. The registration may be completed after the required details have been provided and You expressly accepted these Terms.
III. Modification of these Terms
INCOIN is entitled to modify or amend these Terms in its sole discretion. You shall be notified about any intention of modifications at least 8 days before entry into force such a modification. The modification shall be deemed accepted by You unless You notify INCOIN about nonacceptance before the day of its entry into force. In such case, these Terms shall be terminated automatically. If You do not make any statement regarding the modification, the modification shall be deemed accepted and shall enter into force on the relevant entry day.
IV. Cryptocurrency Payments
Following the registration, You gain access to the Application. To make any payment in cryptocurrency, You are required to use the Application through a Crypto Wallet provider thereby presenting the address of Your Crypto Wallet (“Crypto Wallet”) to us. INCOIN stores only the address data of the Crypto Wallet; INCOIN does not have direct access to your Crypto Wallet, hence does not take any liability regarding the confidentiality thereof. It is your responsibility to have continuous access to your Crypto Wallet, be aware that all transfers in cryptocurrency will be directed to this Crypto Wallet. INCOIN shall not be liable for any errors attributable to erroneous and inaccurate data provided by You, for forgetting passwords, or if the account becomes accessible to unauthorized persons for any reason, furthermore, INCOIN shall not be liable for any shortcomings, data leaks, or other errors occurring in Metamask.
INCOIN provides you with an application programming interface (“API”) that You can implement into your Website where you are intended to accept payments in cryptocurrency. INCOIN undertakes to maintain this application during the term of these Terms whereby payments in cryptocurrency may be provided continuously on the Merchant’s Website. Upon the conclusion of these Terms, INCOIN grants You to implement the API to Your online shopping site and use the Application (within the limits set by the Application) for the purpose of receiving the specified amount of cryptocurrency from Customers. You are expressly prohibited from decompiling, disassembling, reverse engineering, or reducing the Application for any purpose whatsoever. You shall not unlock or otherwise attempt to discover the source code or underlying algorithms of the Application or attempt to do any of the foregoing in relation to the object code of the Application. You shall not circumvent or bypass any technological protection measures.
You may set Your Prices in cryptocurrency or fiat currency. In that case, if a fiat currency is set, or a Customer wishes to balance the Price in a different cryptocurrency than is set, INCOIN calculates the amount to be offset in a cryptocurrency that the Customer wishes to pay with. INCOIN uses “API Layer: Exchanges rates API” rates for the calculation. If You do not agree with the conversion rate, you should not use INCOIN. Please be aware that INCOIN does not exchange between cryptocurrencies and fiat currencies “API Layer: Exchanges rates API” is only used for calculation as described above. INCOIN undertakes to inform the Customers about the conditions of transfer in all cases.
Be aware of the activation of the Application on Your Website may generate an obligation for You to pay a Transaction Fee to INCOIN. Transaction Fee shall be paid per each Cryptocurrency transfer made into Your Crypto Wallet by any Customer within the Application. The amount of the Transaction Fee is published by INCOIN. The Transaction Fee shall be paid in the actual cryptocurrency of the transaction and shall be automatically deducted from the transfer where You are the beneficiary. You expressly accept this material provision.
You are notified about all transactions, and all transactions are final by these notifications; You are not required to accept transactions afterward. Be aware that if Your Merchant Account is activated, that means You are willing to accept cryptocurrency payments, hence You shall pay Transaction Fees as well after all processed transactions.
An uncompleted or canceled transfer will not be processed. If a Customer has made any incorrigible mistake during the ordering process, he or she is entitled to contact us, and we may delete not processed orders.
V. Fulfillment of Orders, Refund
By accepting these Terms, You undertake to fulfill Your outstanding responsibilities to the Customer. You expressly acknowledge and accept this material provision. You only may cancel the contract between You and the Customer if this contract authorizes You for such an act and this action complies with the applicable consumer protection law. In the case of cancellation (for any reason), You shall refund the Customer.
You undertake to defend, indemnify and hold harmless the INCOIN and its affiliates, and their respective employees, contractors, agents, officers and directors, and the brand of INCOIN in any case, particularly in the case of a Customer enforces any claim or demand against INCOIN. This obligation shall cover all damages, losses, liabilities, costs or debt, fines, restitutions and expenses (including but not limited to attorney’s fees and costs incident to establishing the right of indemnification) arising out of or related to the Application.
As described above the following fees are applied in the Application regard:
- The Transaction Fee is 0.5% of the amount of the actual transaction (per transaction).
VII. Your Warranties
To use the Application, You shall warrant that You do not break any applicable law by accepting payments in cryptocurrency, particularly but not limited to complying with the applicable tax and money laundering regulations. You shall warrant that the cryptocurrency that You accept is subject to your tax return obligations.
You take full liability in your warranties regard and undertake to fully compensate INCOIN for the incurred damages if you breach the obligations stipulated in this chapter. INCOIN is entitled to permanently exclude (by termination with immediate effect) You from the Application if any breach of the above is suspected by INCOIN.
Regarding transaction security, we inform You that INCOIN uses security measures to secure Your information however please be aware that computer and telecommunications systems are not fault-free, and downtimes occasionally occur. Hence, INCOIN may not guarantee that unauthorized persons do not gain access to your information .
YOU SHALL TAKE FULL RESPONSIBILITY FOR SETTING PRICES ON YOUR WEBSITE. INCOIN IS NOT A CONTRACTING PARTY IN THE CONTRACT CONCLUDED BETWEEN THE MERCHANT AND THE CUSTOMER, INCOIN IS NOT AWARE OF THE CONDITIONS OF THIS CONTRACT HENCE IN THE EVENT OF ANY DISPUTE ARISING FROM OR IN CONNECTION WITH THIS CONTRACT OR THE FULFILLMENT THEREOF, SO, ESPECIALLY WITH ITS BREACH, TERMINATION, VALIDITY, OR INTERPRETATION THE CUSTOMER SHALL SEEK REMEDY AT THE MERCHANT, INCOIN HAS NO LIABILITY IN THIS REGARD, AND DOES NOT MAKE ANY WARRANTY RELATED TO THE GOODS AND SERVICES.
INCOIN will only be liable for intentional breach of material obligations or as otherwise required by applicable law. INCOIN, its agents, nor its representatives will not be liable for any indirect loss, including financial loss, such as loss of profits (except for damages caused by willful, malicious act). YOU MAY ONLY USE THE APPLICATION AT YOUR OWN RISK AND ACCEPT THAT INCOIN DOES NOT ASSUME ANY LIABILITY FOR PECUNIARY AND NON-PECUNIARY DAMAGES CAUSED DURING USE OTHER THAN LIABILITY FOR A BREACH OF THE TERMS CAUSED INTENTIONALLY. MOREOVER, INCOIN INTENDS TO LIMIT ITS FINANCIAL AND INDEMNIFICATION LIABILITY ACCORDING TO THE PROVISIONS SET FORTH IN THESE TERMS. HENCE, CONTRACTING PARTIES AGREE THAT INCOIN’S FINANCIAL AND INDEMNIFICATION LIABILITY FOR FINANCIAL CLAIMS SUBMITTED AGAINST IT UNDER ANY LEGAL TITLE (EXCEPT FOR DAMAGES CAUSED BY ANY WILLFUL, MALICIOUS ACT) SHALL BE LIMITED TO NOT HIGHER THAN 500 EURS; ALL FURTHER FINANCIAL CLAIMS AND REQUESTS FOR INDEMNIFICATION EXCEEDING THE ABOVE THRESHOLD SHALL BE REJECTED. YOU SHALL NOT USE THE APPLICATION IF YOU DISAGREE WITH THIS MATERIAL PROVISION.
ANY SERVICE BY INCOIN IS PROVIDED ON AN "AS IS" BASIS, WITHOUT ANY WARRANTY, EXPRESSED OR IMPLIED, AS TO CONFORMITY TO OR FITNESS FOR ANY PARTICULAR PURPOSE, OR THAT THE APPLICATION WILL PERFORM UNINTERRUPTED AND WITHOUT ERRORS. TO THE MAXIMUM EXTENT PERMITTED BY THE APPLICABLE RULES OF LAW, INCOIN DISCLAIMS ALL OTHER WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUALITY, COMPLETENESS, NON-INFRINGEMENT OR PRECISION OF THE FUNCTIONS OF THE APPLICATION.
Application may be processed only in an environment that is free of viruses.
You may submit complaints by contacting INCOIN at: email@example.com. INCOIN only accepts complaints submitted through this e-mail address.
The complaint shall contain the cause of the complaint and the information necessary to identify the complainant or the order. INCOIN examines and responds on the merits to the written complaint within 30 days. All rejected complaints must contain the justification of the rejection.
X. Intellectual Property and Trademark Ownership Information
The incoin.biz website, the software behind the Application, logos, trademarks, icons, the Application, and interface in whole or in part are owned by INCOIN and are protected by all applicable copyright laws. Anybody who copies or uses any or all portion of the protected items or its supplementary materials without obtaining the prior written permission of INCOIN is violating copyright or other intellectual property law and may be liable to INCOIN and its licensors in particular for damages or may be subject to criminal penalties.
Please contact firstname.lastname@example.org if You need to use an INCOIN logo or other elements of brand identity prior to application.
XI. Jurisdiction, Governing Law
IN THE EVENT OF ANY DISPUTE ARISING FROM OR IN CONNECTION WITH THE PRESENT CONTRACT, SO ESPECIALLY WITH ITS BREACH, TERMINATION, VALIDITY, OR INTERPRETATION, THE PARTIES EXCLUDE THE STATE COURT PROCEDURE AND AGREE TO SUBMIT THE MATTER TO THE EXCLUSIVE AND FINAL DECISION OF THE PERMANENT ARBITRATION COURT ATTACHED TO THE HUNGARIAN CHAMBER OF COMMERCE AND INDUSTRY (Commercial Arbitration Court Budapest). The Arbitration Court proceeds in accordance with its own Rules of Proceedings (supplemented with the provisions of the Sub-Rules of Expedited Proceedings). The number of arbitrators shall be three, and the language to be used in the arbitral proceedings shall be English. The parties exclude the possibility of the retrial of the proceedings as regulated in Section IX of Act no. LX of 2017 on Arbitration. IN ORDER TO SETTLE THE LEGAL DISPUTE, THE HUNGARIAN SUBSTANTIVE LAW SHALL APPLY, EXCLUDING ITS PRIVATE INTERNATIONAL LAW RULES.
THE PARTIES AGREE THAT CLAIMS ARISING FROM THESE TERMS SHALL LAPSE AFTER SIX (6) MONTHS. Claims must be filed to the Arbitration Court within this period. If not filed within that time, then the claim is permanently barred.
The Application is an information-based system, and its use does not pose any risk, but we recommend taking precautions: use and install updated anti-virus and anti-spyware software. Shopping in the Web Store assumes that You are aware of the technical limitations of the Internet and accept the potential for errors associated with technology.
Should any part or provision of these Terms is found to be contrary to law by any competent jurisdiction, that part or provision shall be enforced to the maximum extent allowed, and the remaining Terms shall remain in full force and effect.
The English version of these Terms will be the governing version used when interpreting or construing these Terms. Any translations thereof shall exclusively be provided for information purposes without any binding force, and in no event shall INCOIN be liable for any direct, indirect, incidental, special, or consequential damages or damages whatsoever resulting from any incorrect, incomplete translations.