These Terms of Use constitute an agreement between you (hereinafter the "User") and Golbex Pte. Ltd. (hereinafter the "GOLBEX") that applies to your use of the Site, including any information and materials therein and any software that GOLBEX makes available that allows you to access the website from a mobile device ("App") and all other services provided by GOLBEX (collectively, the "Services").

By accessing all or any part of the Services, you fully accept and agree to comply with all of the terms set out herein ("Terms").

Golbex reserves the right to change, amend or modify these Terms at any time. You will be deemed to have agreed to the amended Terms by your continued use of the Services following the date on which the amended Terms are published here.
1. Definitions
1.1. Unless otherwise defined, capitalized terms used in these Terms shall be interpreted in accordance with the definitions provided below:

1.1.1 Account: means an account registered by the User on the Site.

1.1.2 Business Days: means a day other than Saturday or Sunday on which banks are open for general business in Singapore.

1.1.3 Buyer: means the User who submits an Order to buy Cryptocurrencies or Fiat Currency through the Site.

1.1.4 Commission Fee: means a fee which is payable to GOLBEX for each completed Transaction.

1.1.5 Cryptocurrency: means peer-to-peer decentralized digital representation of value.

1.1.6 Deposit: means a Transaction involving transfer of Funds from the User to the User's Account.

1.1.7 Fiat Currency: means government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law.

1.1.8 Funds: means Cryptocurrency and/or Fiat Currency.

1.1.9 Margin Trading: means leverage trading when the User may trade with borrowed Fiat Currency or Cryptocurrency.

1.1.10 Order: means the User's instruction to buy or sell Cryptocurrency on certain conditions.

1.1.11 Seller: means the User who submits an Order to sell Cryptocurrency or Fiat Currency through the Site.

1.1.12 Site: means the GOLBEX website at www.GOLBEX.com.

1.1.13 Transaction: means transfer of a Cryptocurrency or a Fiat Currency from/to the Account.

1.1.14 Transaction Fee: means a fee charged by or on behalf of any third party (e.g. bank, non-bank financial institution, payment service provider, etc).

1.1.15 User: means a person or an entity that uses the Services, agrees to follow and comply with the Terms of Use and is a holder of an Account.

1.1.16 Withdrawal: means a Transaction involving a transfer of Funds from the Account to his/her bank account or transfer of Cryptocurrency from the Account to the User's personal wallet.

1.2 Where the context so admits words denoting the singular shall include the plural and vice versa.

2. User's rights and responsibilities
2.1 By registering on this Site you agree to act in a good faith and comply with all the requirements of the legislation in your own country and the laws of Singapore.

2.2 You shall use the Services in accordance with these Terms and shall not:

2.2.1 Copy, decompile, reverse engineer, disassemble, attempt to derive the source code of, decrypt, interfere with, or disrupt the integrity or the performance of the Services;

2.2.2 Make any modification, improvement, adaptation, enhancement, translation or derivative work from the Services;

2.2.3 Intentionally or unintentionally violate any applicable laws, rules or regulations in connection with your access or use of the Services;

2.2.4 Use the Services in breach of or to circumvent any sanctions or embargo;

2.2.5 Remove, alter or obscure any proprietary notice (including any notice of copyright and trademark) of GOLBEX or its affiliates, partners, suppliers or licensors;

2.2.6 Use the Services to create or promote a product, service or software that is, directly or indirectly, competitive with or in any way a substitute for the Services or any services, product or software offered by GOLBEX;

2.2.7 Use the Services for any purpose for which it is not designed or intended;

2.2.8 Upload to, or transmit through the Services any data, file, software or link that contains or redirects to a virus, Trojan horse, worm or other harmful components;

2.2.9 Use any scraper, robot, bot, spider, crawler or any other automated device or means to access, acquire, copy or monitor any portion of the Services, or any data found or accessed through the Services;

2.2.10 Use any proprietary information or interfaces of GOLBEX or any other intellectual property of GOLBEX in the design, development, manufacture, licensing or distribution of any application, accessories or devices for use with the Services.

2.2.11 Use the Services to send or post any content which is offensive, indecent, threatening, abusive, insulting, harassing, defamatory, libellous, deceptive, fraudulent, tortious, obscene, profane, invasive of another person's privacy, or racially, ethnically, religiously or otherwise objectionable;

2.2.12 Use the Services to send automated, unsolicited or unauthorised messages through any digital means, advertising or promotional material or any junk mail, spam or chain letters;

2.2.13 Collect any information (including without limitation, email addresses and the content of the user profiles) in respect of other users without their consent; and

2.2.14 Authorize or encourage anyone to do any of the foregoing.

2.3 By registering on this Site you agree to pay any fees that are due in respect of any such Services that you use or withdraws of the Fiat Currency.

2.4 The User has the right to register and use the Site and the Services, as long as User agrees to and complies with the Terms.

2.5 The User undertakes to inform GOLBEX immediately upon notice of any unusual, suspicious, unclear or abnormal changes of the Account. In the event where the User does not inform GOLBEX or takes more than five (5) Business Days to inform Golbex of such changes, the User will be liable for the breach of the Terms and GOLBEX will have the right to take any further steps accordingly, including but not limited to report to the relevant authorities.

The User has the right to close his/its Account at any time and withdraw Fiat Currency or Cryptocurrency to his/its Account and/or wallet. The User agrees and acknowledges that it will take some time to withdraw Fiat Currency or Cryptocurrency. The User agree that GOLBEX could at any time request confirmation on such withdrawal from the User to avoid any fraud with the Account.
3. User's representation and warranties
3.1 By registering an Account, the User represents and warrants to GOLBEX that:

3.1.1 if he is a natural person:

3.1.1.1 he complies with the relevant laws of the User's country of residence and the laws of Singapore;

3.1.1.2 he is at least 18 years of age and has the right to accept these Terms and participate in transactions involving cryptocurrency;

3.1.1.3 he is capable of entering into and performing legally binding contracts under applicable law;

3.1.2 if a legal entity:

3.1.2.1 it is duly incorporated and validly existing under the laws of the relevant jurisdiction and is in good standing;

3.1.2.2 it has the corporate power to enter into and perform, and has taken all necessary corporate action to authorize the use of the Services;

3.1.2.3 the use of the Services do not violate or conflict with (i) any provisions of its constitutional documents, (ii) applicable laws, (iii) order or judgment of any court or other competent authority applicable to it;

3.1.2.4 all authorizations, consents, registrations and notifications required under the laws of its state of incorporation in connection with the entry into, performance, validity and enforceability of, and the transactions contemplated by these Terms (i) have been obtained or effected and, (ii) are in force with all their respective conditions having been complied with;

3.1.2.5 it is not entitled to any jurisdictional or enforcement immunity (based on theories of sovereign immunity or otherwise), with respect to its obligations under these Terms and the documents and transactions contemplated hereto.

3.1.3 he/it will only use the Site to perform Transactions in accordance with the these Terms and that they are duly authorized and have the capacity to enter into the Transactions on the Site.

3.1.4 both Fiat Currency and Cryptocurrency deposited to the Account belong to the User and derived from legal sources.

3.1.5 all Transactions being carried out do not violate the rights of any third party or applicable laws.

4. Golbex's rights and responsibilities
4.1 GOLBEX will provide to the User the Services in accordance with these Terms of Use.

4.2 GOLBEX processes Transactions in the automatic mode (on the FIFO – "First In, First Out" basis) and has no influence on the Transaction process.

4.3 GOLBEX has the sole and absolute discretion to decline any User registration due to its internal policy without any reasons.

4.4 To the fullest extent permitted by law, GOLBEX is not responsible for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered is directly caused by a breach of the Terms by GOLBEX.

4.5 GOLBEX shall not be responsible for any losses any malfunction, breakdown, delay or interruption of the Users connection to the Site at any time.

4.6 GOLBEX has sole and absolute discretion to not provide any Services to a User if it suspects the User has committed or any other illegal activity.

4.7 Nothing in these Terms excludes or limits the responsibility of GOLBEX for fraud or personal injury caused by its gross negligence, breach of the Terms implied by operation of the law or any other liability which may not be limited or excluded by law.

4.8 GOLBEX has the sole and absolute discretion to close an Account if the User has not accessed it for a period of 12 months and such User's balance is zero. GOLBEX shall notify the User by way of electronic mail 30 calendar days prior to closing the Account.

5. Golbex's representation and warranties
5.1 GOLBEX represents and warrants that:

5.1.1 it is duly incorporated and validly existing under the laws of Singapore;

5.1.2 it has the corporate power to enter into and perform, and has taken all necessary corporate action to authorize the use of these Terms;

5.1.3 all authorizations, consents, registrations and notifications required under the laws of Singapore in connection with the entry into, performance, validity and enforceability of, and the transactions contemplated by these Terms (i) have been obtained or effected; and (ii) are in force with all their respective conditions having been complied with.
6. indemnity
6.1 The User hereby agrees to indemnify, defend and hold harmless GOLBEX its subsidiaries, affiliates, partners, suppliers, licensors, shareholders, directors, officers, employees, independent contractors and agents and all successors and/or assigns from and against any and all losses whatsoever arising which may be suffered or incurred by the User arising out of or resulting from: (a) your use of the Services; (b) your use of your Account; (c) your breach of these Terms; (d) your breach of any statutory requirement, duty or late; (e) your viation of any rights of another person or entity.
7. No warranty
7.1 You acknowledge and agree that the Services are provided on an "as is" and "as available" basis, and that your use of or reliance upon the Services and any content, products or services accessed or obtained thereby is at your sole risk and discretion.

7.2 GOLBEX does not represent or warrant that: (a) the use of the Services will be timely, secure, uninterrupted or error free or that they will be compatible or operate in combination with any other hardware, software, system or data; (b) the Services will meet your requirements or expectations; (c) errors or defects in the Services will be corrected; or (d) the Services and GOLBEX's servers are free of viruses or other harmful components.

7.3 All conditions, representations and warranties, whether express, implied, statutory or otherwise, including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, and non-infringement, are hereby excluded and disclaimed to the fullest extent permitted under the law.

7.4 The Services may be subject to limitations, delays, and other problems inherent in the use of the Internet and electronic communications (including problems inherent to the computer or electronic device you use). GOLBEX is not responsible for any delays, delivery failures, damages, or losses resulting from such problems.

7.5 No advice or information, whether oral or written, obtained by you from GOLBEX or from the Services shall create any representation, warranty or guarantee. Furthermore, you acknowledge that GOLBEX has no obligation to support or maintain the Services.

7.6 GOLBEX disclaims any and all liability or responsibility in relation to the content made available through the Services. GOLBEX is not responsible or liable in any manner for the third party content and services associated with or utilized in connection with the Services, including the failure of such third party content and services.

7.7 GOLBEX does not warrant that the Services will be compatible or interoperable with your device or any other piece of hardware, software, equipment or device installed on or used in connection with your device. Furthermore, you acknowledge that compatibility and interoperability problems can cause the performance of your device to diminish or fail completely, and may result in permanent damage to your device, loss of data located on your device, and corruption of the software and files located on your device. You further acknowledge and agree that GOLBEX and its subsidiaries, affiliates, partners, suppliers and licensors shall have no liability to you for any losses suffered resulting from or arising in connection with any such compatibility or interoperability problems.

8. Limitation of liability
8.1 YOU ACKNOWLEDGE AND AGREE THAT YOUR ONLY RIGHT WITH RESPECT TO ANY PROBLEMS OR DISSATISFACTION WITH THE SERVICES IS TO REQUEST FOR TERMINATION OF YOUR ACCOUNT AND/OR DISCONTINUATION OF USE OF THE SERVICES.

8.2 IN NO EVENT SHALL GOLBEX OR ITS DIRECTORS, SHAREHOLDERS, EMPLOYEES, SUBSIDIARIES, AFFILIATES, PARTNERS, SUPPLIERS OR LICENSORS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR EXEMPLARY DAMAGES ARISING OUT OF OR IN CONNECTION WITH YOUR ACCESS OR USE OF OR RELIANCE OR INABILITY TO ACCESS OR USE THE SERVICES OR ANY THIRD PARTY CONTENT AND SERVICES, OR ARISING OUT OF OR IN CONNECTION WITH YOUR CONDUCT OR THE CONDUCT OF OTHER USERS IN CONNECTION WITH THE USE OF THE SERVICES INCLUDING WITHOUT LIMITATION DEATH, BODILY INJURY, EMOTIONAL DISTRESS AND/OR OTHER DAMAGES RESULTING FROM COMMUNICATIONS OR MEETINGS WITH OTHER USERS OR PERSONS YOU MEET THROUGH THE SERVICES, WHETHER OR NOT THE DAMAGES WERE FORESEEABLE AND WHETHER OR NOT GOLBEX WAS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, GOLBEX'S AGGREGATE LIABILITY TO YOU (WHETHER UNDER CONTRACT, TORT, STATUTE OR OTHERWISE) SHALL NOT EXCEED THE AMOUNT OF SINGAPORE DOLLARS ONE ONLY (S$1.00). THE FOREGOING LIMITATIONS WILL APPLY EVEN IF THE ABOVE STATED REMEDY FAILS OF ITS ESSENTIAL PURPOSE.
9. User verification
9.1 You agree to provide GOLBEX with all the information GOLBEX requests for the purposes of identity verification of the User (anti-money laundering and know-your client ("KYC") procedures) and the source of Fiat Currency and Cryptocurrency, if applicable. The requested information may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding your bank account (such as the name of the bank, the account type and account number). In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to keep us updated if any of the information you provide changes.

9.2 You undertake to provide all correct and relevant documents and personal information described on the Site. In the event you provide counterfeit documents and false personal information, such behavior will be interpreted as a fraudulent activity and GOLBEX reserves the right to take action against you.

9.3 You hereby authorize GOLBEX to perform necessary checks of the documents you provided during the KYC procedure based on the GOLBEX Privacy Policy. You acknowledge and agree that GOLBEX could disclose information to trusted third parties for the purposes set out in its Privacy Policy. GOLBEX could disclose User's KYC information to trusted service providers we are using to run our business.
10. Scope of services
10.1 The Services allow all Users of the Site to trade Cryptocurrencies with other Users.

10.2 Depending on the User's place of residence, the User may not be able to use all the functions of the Site. It is the User's responsibility to comply with all applicable laws.

10.3 The User acknowledges and agrees that, GOLBEX acts as an intermediary and it's not counterparty to any Transaction.

10.4 To use the Services you need to have a registered Account and you need to provide your name and other personal details. GOLBEX has the sole and absolute discretion to decline a User from opening an Account.

10.5 The User can deposit Fiat Currency or Cryptocurrency to its Account. You acknowledge and agree that GOLBEX shall keep all Fiat Currency on its account __________________ and Cryptocurrency on the GOLBEX wallet.

10.6 The User can purchase or sell Cryptocurrency on the Site by placing an order on the Site. When the User places an Order to sell or purchase Cryptocurrency, the User gives GOLBEX irrevocable instruction to purchase or sell Cryptocurrency. In accordance with the Order, the User cannot withdrawal Fiat Currency or Cryptocurrency (equivalent of the Order amount) from its Account until the time when the balance in the Account changes.

10.7 The User can at any time have access to its Account to see the balance, history of transactions and placed Orders.

11. Fees
11.1 GOLBEX will charge a Commission Fee on each Transaction based on the rate published on the Site. User can check the current rate at golbex.com.

11.2 The Commission Fee is automatically charged on each Transaction in the Fiat Currency based on the exchange rate of relevant transaction.

11.3 The User acknowledges and agrees that each financial institution (e.g. bank, non-bank financial institution, payment service provider, etc.) could charge the Transaction Fee on withdrawal/deposit of Fiat Currency from and to the Account. GOLBEX shall charge the applicable amount on each withdrawal/deposit Fiat Coney from and to the Account based on the rates listed on the Site golbex.com.

11.4 A storage fee is charged by GOLBEX for storing any Cryptocurrency as well as Fiat Currency until such assets are claimed back by the User or the Account has a zero balance. This fee is charged by GOLBEX only if there is no access to the Account for the period of 12 months or more. The storage fee is at golbex.com.

12. Margin trading
12.1 Margin trading is available for long and short positions, which are subject to specific fees, limits and conditions defined on the Site. The User can check the Margin trading conditions on the golbex.com.

12.2 Margin Trading is based on the peer-to-peer technology and GOLBEX is not responsible for the Fiat Currency provided during the Margin trading.

12.3 GOLBEX shall have the sole and absolute discretion to charge for Margin Trading.

12.4 Due to volatility of Cryptocurrency, the User shall give GOLBEX an irrevocable right to close any open position (leverage) to avoid any potential loss to lender and/or GOLBEX. Due to the existing technology available, this position can be closed automatically. GOLBEX does not cover any losses occurred due to such sale. The User acknowledges and agrees that in order to avoid a negative balance, GOLBEX has the right to close any open position (leverage), without any prior notification to the User when the price of a leverage currency will be lover 'stop loss price' value.

The User acknowledges and agrees that the position will be closed automatically with the figures existing on the market at that specific moment based on the market price (which could be differ from "stop loss price"). The loss (negative balance on the leverage currency) occurs during such sale should be covered by User by depositing additional fiat or crypto currency.
12. Margin trading
12.1 Margin trading is available for long and short positions, which are subject to specific fees, limits and conditions defined on the Site. The User can check the Margin trading conditions on the golbex.com.

12.2 Margin Trading is based on the peer-to-peer technology and GOLBEX is not responsible for the Fiat Currency provided during the Margin trading.

12.3 GOLBEX shall have the sole and absolute discretion to charge for Margin Trading.

12.4 Due to volatility of Cryptocurrency, the User shall give GOLBEX an irrevocable right to close any open position (leverage) to avoid any potential loss to lender and/or GOLBEX. Due to the existing technology available, this position can be closed automatically. GOLBEX does not cover any losses occurred due to such sale. The User acknowledges and agrees that in order to avoid a negative balance, GOLBEX has the right to close any open position (leverage), without any prior notification to the User when the price of a leverage currency will be lover 'stop loss price' value.

12.5 The User acknowledges and agrees that the position will be closed automatically with the figures existing on the market at that specific moment based on the market price (which could be differ from "stop loss price"). The loss (negative balance on the leverage currency) occurs during such sale should be covered by User by depositing additional fiat or crypto currency.
13. Golbex contact details
13.1 If you have any questions relating to these Terms, your rights and obligations arising from these Terms and/or use of the Site or Services, please contact:

190 MIDDLE ROAD

#15-01/03

FORTUNE CENTER

SINGAPORE (188979)

Or email: support@golbex.com
14. Miscellaneous
14.1 No agency, partnership, joint venture, employee-employer or franchiser-franchisee relationship is intended or created by these Terms.

14.2 Except as provided herein, any failure by GOLBEX to exercise a right or require performance of an obligation in these Terms shall not affect GOLBEX's ability to exercise such right or require such performance at any time thereafter nor shall the waiver of a breach of these Terms constitute a waiver of any subsequent breach.

14.3 If any provision of these Terms is or becomes illegal, invalid or unenforceable in any respect, then such provision will be modified to reflect the parties' intention, and all remaining provisions of these Terms (insofar as they are severable from such illegal, invalid or unenforceable provisions) shall in no way be affected or impaired and shall remain in full force and effect.

14.4 You shall not assign any rights or delegate any obligations herein without our prior written consent and any attempted assignment or delegation in contravention of this provision shall be null and void and of no force or effect. The Terms will bind and inure to the benefit of each party's successors and permitted assigns.

14.5 These Terms constitute the entire agreement between you and GOLBEX and supersedes all prior or contemporaneous understandings and/or agreements between you and GOLBEX.

15. Governing law and dispute resolution
15.1 These Terms of Use shall be governed by and construed in accordance with the laws of Singapore.

15.2 Any disputes (including non-contractual disputes or claims) arising out of or in connection with these Terms, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre ("SIAC") in accordance with the Arbitration Rules of the SIAC for the time being in force, which rules are deemed to be incorporated by reference in this clause. The seat of arbitration shall be Singapore. The tribunal shall comprise of a sole arbitrator. The language to be used in the arbitral proceedings shall be English.
16. Force Majeure
16.1 GOLBEX shall not be considered to be in breach of Terms and shall not be responsible or otherwise liable for damages caused by delay or failure to perform undertakings under these Terms when the delay or failure is due to fires; strikes; floods; power outages or failures; acts of God or the state's enemies; lawful acts of public authorities; any and all market movements, shifts, or volatility; computer, server, or Internet malfunctions; security breaches or cyberattacks; criminal acts; delays or defaults caused by common carriers; acts or omissions of third parties; or, any other delays, defaults, failures or interruptions that cannot reasonably be foreseen or provided against ("Force Majeure Event"). In the event that any Force Majeure Event occurs, the time for performance of such obligations shall be extended accordingly.

1.2 If the Force Majeure Event prevents, hinders or delays GOLBEX's performance of its obligations for a continuous period of more than four (4) weeks, GOLBEX shall be excused from all performance obligations under these Terms.

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