Terms of use (Last update 1 May 2024)
These Terms of Use and the Privacy Policy (together, the “Terms”) apply to any person(s) located in the United States of America that registers for and/or opens a Kyrrex Operations LLC Account or any associated mobile applications, website, or application program interfaces (together, the “Site” or “Platform”). These Terms constitute a legally binding agreement between you (also referred to herein as “User”) and Kyrrex Operations LLC. (“Kyrrex US”, “us”, or “we”). By registering for and opening a Kyrrex US Account or accessing the Site, you understand and accept these Terms and agree to be bound by and act in accordance with them. If you are using the Platform on behalf of a business or entity, you acknowledge and agree that you have authority to bind such business or entity and that such business or entity accepts these terms.These Terms set forth the terms for your use of the Site and are effective as of the date you accept or otherwise agree to the terms of this Agreement (“Effective Date”). Users may be granted additional levels of access to the Site and their relationship with Kyrrex US may be governed by additional agreements and/or terms of use that govern their account(s)
Kyrrex US reserves the right to change or modify the terms and conditions contained in these Terms, including but not limited to any policy or guideline of the Platform, at any time and at its sole discretion. If you keep using our services after these Terms have changed and gone into effect, that means you have accepted those changes and they are legally binding on you. If you do not agree with the changed terms, you must stop using our services immediately. You agree that we will not be liable to you or any third party as a result of any losses suffered by any modification or amendment of these Terms.
You are solely responsible for understanding and complying with any and all federal and state laws, rules, and regulations that may be applicable to you in connection with the use of the Site and any and all services, products, and content of Kyrrex US.
IF YOU DO NOT AGREE TO THE TERMS, DO NOT ACCESS THE SITE OR USE OUR SERVICES
STATE LICENSE DISCLOSURE
Kyrrex US is in the process of seeking licenses to engage in money transmission activities in many states, and these licenses may impact our provision and your use of certain Kyrrex US services depending on where you live. Kyrrex US’s licenses and corresponding required disclosures can be found on the Licenses and Registrations page, which is incorporated here by reference. Our Services may also be available, as indicated on the Licenses and Registrations page, in states where a specific license is not currently required for Services we offer.
PLEASE BE ADVISED THAT THESE TERMS OF USE INCLUDE AN ARBITRATION PROVISION THAT GOVERNS THE RESOLUTION OF DISPUTES BETWEEN YOU AND KYRREX US. BY ACCESSING OR USING OUR SERVICES, YOU ACKNOWLEDGE AND AGREE TO BE BOUND BY THE TERMS SET FORTH HEREIN, INCLUDING THE ARBITRATION PROVISION DETAILED BELOW.
THE ARBITRATION PROVISION OUTLINES THE PROCESS BY WHICH DISPUTES WILL BE RESOLVED AND MAY AFFECT YOUR LEGAL RIGHTS, INCLUDING THE WAIVER OF YOUR RIGHT TO PURSUE CLAIMS IN COURT OR PARTICIPATE IN CLASS ACTIONS. IT IS IMPORTANT THAT YOU CAREFULLY READ AND UNDERSTAND THE ARBITRATION PROVISION BEFORE CONTINUING TO USE OUR SERVICES.
1. DEFINITIONS
1.1. Capitalized terms not otherwise defined in these Terms will have the following meaning
“Account” or “Kyrrex US Account” means a personal secure profile created by you on our Site or App. It allows you to access and use our services and manage your preferences.
“Affiliates” means, with respect to a legal entity, another legal entity that controls, is under common control with, or is controlled by the first legal entity. The Site may be operated or provided by Kyrrex US, its Affiliates or their respective contractors.
“Application“ or “App“ refers to a software program designed to run on electronic devices, including but not limited to mobile phones, tablets, and computers. The application may provide various services, features, or functionalities.
“Biometric Data” means the unique physical, physiological or behavioral characteristics of an individual that can be used to identify or authenticate their identity. It includes, but is not limited to fingerprints, facial recognition patterns, voiceprints, or other biologically derived or physical traits that can be digitally captured or stored.
“Content” refers to all information, data, materials, text, images, videos, audio, graphics, software, and any other digital assets or elements made available on our website or through our services. This includes, but is not limited to, any content provided by us, user-generated content, third-party content, product descriptions, articles, blog posts, comments, reviews, and any other information presented or accessible within the scope of our platform or services. The term “Content“ encompasses all forms of media and resources that Users may encounter or interact with while using our Site.
“Deposit” means a Transaction involving the transfer of Funds to the Account.
“Digital Asset (Asset)” means any digital asset (including a virtual currency) which is a digital representation of value based on or built on top of a cryptographic protocol of a computer network (e.g. bitcoin, ether, litecoin, etc.)
“Fees” means any type of fee collected by Kyrrex US such as commission and services fees.
“Fiat currency” means government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law.
“Freeze” or “Account Freeze” refers to the temporary suspension or restriction of certain account functionalities, including but not limited to buying, selling, converting, and transferring Funds within the account. During the account freeze period, a User is unable to perform any transactions until the freeze is lifted or resolved.
“Funds” means Digital Assets and/or USD currency.
“Market Manipulation” means actions taken by any User or a person acting in concert with a User which are intended to (i) deceive or mislead other Users; (ii) artificially control or manipulate the price or trading volume of Funds; (iii) aid, abet, enable, finance, support or endorse either of the above.
“Order” means the User’s instruction to buy or sell Digital Asset.
“Restricted Location” means a state where Kyrrex US is not permitted to provide services (e.g. New York). For information concerning the jurisdictions where we can operate, see Licenses and Registrations.
“Rounding Policy” means the rules and methods applied by Kyrrex US when determining the price and quantity of cryptocurrencies in trading Transactions.
“Services” means all and any technologies, products and/or functionalities provided by Kyrrex US.
“Site” means the online platform or website operated by Kyrrex US through which services are provided to you. It’s the place where we offer our services to you, providing a digital environment with all the features and tools you need to access and use our services. This includes Apps (e.g. mobile applications), websites, and application program interfaces.
“Transaction[s]” refers to when you buy, sell, send, convert, or carry out other transactions in Assets.
“Transaction Details” means details of the transaction, including, but not limited to recipient's wallet address, payment details, bank account information, etc.
“Withdrawal” means a Transaction involving a transfer of Funds from a user’s account to your bank account or to an account opened in any other financial institution.
2. RISK WARNING
2.1. Digital Assets and associated activities involve a significant amount of risk. Prices can fluctuate, often significantly, on any given day. Because of such price fluctuations, you may gain or lose value of your assets at any given moment. Digital Assets may be subject to large swings in value and may even become completely worthless. There is always an inherent risk that losses will occur as a result of buying, selling, or trading anything on the market. Digital Asset trading has specific risks, which are not shared with other official currencies, goods, or commodities in a market.
2.2. Taxes may be payable on any return and/or on any increase in the value of your Digital Assets and you should seek independent advice on your tax obligations. Kyrrex US is not responsible for any violation made by the User due to his/her obligation to calculate and pay taxes and duties.
2.3. Digital Assets are not legal tender and are not backed by the government. Kyrrex US is not a bank and Kyrrex US Accounts are NOT subject to Federal Deposit Insurance Corporation (FDIC) or Securities Investor Protection Corporation (SIPC) protections.
2.4. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of Digital Assets.
2.5. Transactions in Digital Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. Some Digital Assets transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the Transaction. The value of Digital Assets may be derived from the continued willingness of market participants to exchange USD currency for Digital Assets and Digital Assets for Digital Assets, which may result in the potential for a permanent and total loss of value of a particular Digital Asset should the market for that Digital Asset disappear.
2.6. The nature of Digital Assets may lead to an increased risk of fraud or cyber-attack. The nature of Digital Assets means that any technological difficulties experienced by Kyrrex US may prevent the access or use of a User's Digital Assets.
2.7. Any account maintained by Kyrrex US for the benefit of its Users may not be sufficient to cover all losses incurred by Users. There may be additional risks, which have not been foreseen or identified in the current Terms of Use. Carefully assess whether your financial situation and tolerance for risk is suitable for buying/selling/trading Digital Assets.
2.8. Kyrrex US does not provide any financial, investment or legal advice in connection with the Services provided by Kyrrex US. While our products and services may involve the use of various digital assets, it is essential to understand that our company does not endorse, promote, or provide any investment advice or recommendation regarding these digital assets.The inclusion of any specific digital asset within our products and services should not be construed as an endorsement or validation of its value, utility, or potential investment merit. Users are solely responsible for conducting their own research and making informed decisions concerning the use and involvement of digital assets. Kyrrex US disclaims any association, sponsorship, or endorsement of any particular digital asset, and we encourage users to exercise caution and diligence when dealing with digital assets within the scope of our products and services.
2.9. Kyrrex US may provide information on the price, range, volatility of Digital Assets, and events that have affected the price of Digital Assets, but it should not be considered as an investment or financial advice and should not be construed as such. Any decision to buy or sell Digital Assets is Your decision and Kyrrex US will not be liable for any loss suffered. You should conduct your own research regarding Digital Assets.
3. SERVICES
3.1. Generally, our Site allows users to buy, sell, and convert Digital Assets. The range of services offered depends upon your state of residence and whether you are a person or institution, corporation or other legal entity. We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services. Services include, but are not limited to:
Buy / Sell
General. Buy / Sell, allows users to buy or sell Digital Assets for a fixed price quoted by Kyrrex US in USD currency. Digital Asset purchases and sales made via Buy / Sell are filled entirely at a single price. Your use of Buy / Sell must comply with the aforementioned requirements found in these Terms.
All pricing or performance data related to the Instant Buy is for informational purposes only. The Instant Buy is not an offer to purchase any single security, investment, or financial instrument. The Instant Buy offer is not a recommendation to buy, sell or hold any Digital Assets or any amount of Digital Assets and does not constitute investment advice, financial advice, or trading advice.
Transaction Price. The quoted price is locked-in a specific time period (typically 2 minutes), upon which it is recalculated if the user has not confirmed the purchase. Once the user confirms the purchase, however, the price is set.
Wallet
General. Your Kyrrex US Wallet allows you to deposit, withdraw, and convert select Digital Assets. You are not able to store USD currency in this wallet. Your Digital Assets are not insured by the FDIC or SIPC. Under no circumstances should you attempt to use your Kyrrex US Wallet to store, send, request, or receive any assets other than supported Digital Assets. Kyrrex US assumes no responsibility in connection with any attempt to use your Kyrrex US wallet with Digital Assets that we do not support. You understand and agree that Kyrrex US is not liable for any unsupported Digital Asset that is sent to a wallet associated with your Kyrrex US Account. In order to view our current list of supported Digital Assets, please log into your Account.
4. ELIGIBILITY
4.1. By registering an Account, you expressly represent and warrant that you:
will follow the rules and laws of your jurisdiction from where you will access the Site;
are not located in a Restricted Location;
are at least 18 years old and have the legal capacity to accept these Terms of Use and participate in transactions involving Digital Assets;
have not been previously removed or suspended from the Site;
you have the authority and legal capacity to accept these Terms of Use and participate in transactions involving Digital Assets;
4.2. You agree that you will not grant any person or organization access to your User Account, except as described herein, as granting access may violate Applicable Laws and Regulations.
5. FEES
5.1. Kyrrex US reserves the right to charge for, or change the fees associated with, the use of the Site at any time subject to reasonable notice and these Terms. For information on fees see the Kyrrex Fees and Commissions page.
5.2. Prior to using the Services, you must consider the fee rates published on the Fee Schedule page. However, Kyrrex US reserves the right to change the Transaction fee rates from time to time by publishing updates on the Fee Schedule page.
5.3. The Transaction fee amount is automatically charged off in the currency indicated. For example, for BTC/USD the fee is charged in USD; for ETH/BTC the fee is charged in BTC.
5.4. The minimum transaction fee equals the minimum currency amount. For Fiat currency, it equals 0.01, for Digital Asset it depends on the asset. The Transaction fee is charged according to the Rounding Policy described below.
5.5. The minimum and maximum price, as well as the minimum and maximum Order amount, varies for each trading pair and can be seen on the Trade Page when placing an order.
5.6. For specific types of Orders, the Transaction fee may differ from those published on the 'Fee Schedule' page. The Transaction fee rate shall be disclosed before the Order execution.
5.7. The Transaction fee, other charges, as well as the charging procedure can be changed/reviewed unilaterally by Kyrrex US from time to time and such changes shall become effective the moment they are posted on the Site.
5.8. The User acknowledges and agrees that every Digital Asset network can deduct its own network fee. Kyrrex US may not have control over any fees associated with the Digital Asset network or protocol.
5.9. Kyrrex US may charge network fees, sometimes called miner fees or gas fees, to process Digital Asset Transactions on the User’s behalf. Kyrrex US will calculate the network fee at its discretion.
5.10. By using the Services, you agree to pay all applicable Fees.
6. TRADING FEE BALANCE AVAILABLE ON THE KYRREX US SPOT TRADING PRODUCT
6.1. At its sole discretion, Kyrrex US may offer Users an incentive, in the form of a trading fee balance credited to a User, to use the Kyrrex US Spot Trading platform. The trading fee balance is conditional, limited in size and in use.
6.2. Specific conditions (requirements) fulfillment of which may grant the User the trading fee balance (hereinafter - “Trading Fee Balance”) are up to Kyrrex US and subject to change without notice. The total Trading Fee Balance may consist of several parts, granted upon fulfillment of specific conditions, with separate expiration dates or remaining open-ended. Specific mechanics of how each specific Trading Fee Balance is granted, including but not limited to the landing page address, timing of the Trading Fee Balance delivery, are also up to Kyrrex US and subject to change without notice.
6.3. The mechanics and conditions to getting the Trading Fee Balance may include a few steps, e.g. corresponding to the User’s onboarding on the Platform, each of which may be rewarded with a separate Trading Fee Balance. The participation may include the need to opt-in. If opt-in is included as a condition to participation, only steps completed after the opt-in on the dedicated landing page count towards the potential eligibility for the Trading Fee Balance. Steps completed prior to the opt-in, when the opt-in is required, do not count towards the potential eligibility for the Trading Fee Balance.
6.4. The Trading Fee Balance can be issued in the form of a trading fee discount within the Kyrrex US Spot Trading product of a specific value in Tether (“USDT”) (or any other cryptocurrency) held on the User’s account, separate from the User's Kyrrex US Spot Trading usual account balance.
6.5. Depending on the type, the Trading Fee Balance may have either a specified expiration date or be open-ended.
6.6. In case the specific Trading Fee Balance has an expiration date, then after the expiry date, the remaining unused Trading Fee Balance will expire and be burned without the possibility of its further use. Any orders active after the expiration of a specific Trading Fee Balance will be fulfilled at the applicable fees charged from the User's other available Trading Fee Balances, if any. If no other specific Trading Fee Balance is available to the User, the applicable fees will be deducted from the User's Kyrrex US Spot Trading usual account balance.
6.7. In case the User receives an open-ended Trading Fee Balance, the User will be able to use the Trading Fee Balance on Kyrrex US Spot Trading until the User spends it. Notwithstanding the above, the User agrees that Kyrrex US reserves the right to unilaterally terminate such Trading Fee Balance and write off the unused portion of the Trading Fee Balance allocated to the User’s Kyrrex US Spot Trading account.
6.8. The User is able to check his/her available Trading Fee Balance and its parts, if applicable, on the User’s Dashboard.
6.9. In case when, for example, the User has X amount of USDT on the Trading Fee Balance, and a trading fee for the order is Y amount of the second currency of a trading pair chosen (for example, for the ETH/BTC trading pair the fee will be calculated in BTC), then the equivalent of Y amount will be withdrawn from the User’s Kyrrex US Spot Trading Fee Balance at the Kyrrex US Spot Trading’s current applicable spot market rate, which may be volatile.
6.10. In case the Trading Fee Balance can only cover a portion of the applicable trading fees on the Kyrrex US Spot Trading product, then the portion of the trading fees will be covered by the Trading Fee Balance, while the remaining trading fees will be charged as usual from the User’s Kyrrex US Spot Trading account’s balance.
6.11. If there is another unexpired Trading Fee Balance on a User’s Kyrrex US Spot Trading’s account, this balance will be used automatically towards the applicable Kyrrex US Spot Trading fees.
6.12. Trading Fee Balance can only be used as a discount towards applicable trading fees on Kyrrex US Spot Trading. Trading Fee Balance cannot be traded, exchanged, transferred, or withdrawn for equivalent currency or equivalent digital assets. The Trading Fee Balance can be used only to cover trading fees of the Kyrrex US Spot Trading and no other Kyrrex US products.
6.13. In the event of Kyrrex US and/or Kyrrex US Spot Trading initiates Platform and/or Service maintenance, repairs, upgrades, or any Force Majeure Event (as specified in the Terms of Use), the Trading Fee Balance may be suspended for a period of time until Kyrrex US and/or Kyrrex US Spot Trading resumes or is reasonably expected resume its Service.
6.14. Kyrrex US may change, extend, freeze, terminate, cancel, or retrieve (write off) the Trading Fee Balance before the expiration date and the open-ended Trading Fee Balance, whether or not with notice. This may happen for several reasons, including, but not limited to, a violation of the Terms of Use or other legal documentation and/or Policy by the User, potential services abuse, a risk of money laundering and/or other suspected illicit activities, and/or other activities or behaviors. These, in Kyrrex US’s sole and absolute discretionary power, may disqualify the User for the Trading Fee Balance, and/or may deem the User unfit to participate further in this promotion.
6.15. In order to comply with local regulations, certain features may not be available or may become unavailable in the User’s region.
6.16. While the Trading Fee Balance represents a discount to the Kyrrex US Spot Trading fees, the User should determine any potential individual tax obligations and possibly seek independent tax advice.
7. PAYMENT SERVICES PARTNERS
7.1. Kyrrex US uses third party payment processors to process any US currency payment between you and Kyrrex US, including but not limited to payments in relation to your use of the Site. The name on your linked bank account must match the name verified on your Account(s). Third party payment processors may be located domestically in the United States or outside the United States. All third party processors will be disclosed at the point of sale for each transaction(s).
8. ROUNDING POLICY
8.1. Kyrrex US uses the Rounding Policy in the favor of the Platform on all financial transactions. Kyrrex US rounds Fiat currencies to the second digit after the separator. The Rounding Policy for Cryptocurrencies varies depending on Cryptocurrency.
8.2. For the purpose of the processes optimization, transactions on the Platform with regard to some items (including, but not limited to currencies, Cryptocurrencies, etc.) will not be reflected at the User’s Account and will appear as the next whole unit in accordance with the Rounding standards.
9. DATA PROTECTION AND SECURITY
9.1. You acknowledge and agree that we may process personal data, including sensitive and biometric data, in relation to you. Please review our Privacy Policy for more information on how we collect and process personal information relating to the Site.
9.2. When you open or log into your Kyrrex US Account, your personal information will be stored by Kyrrex US in accordance with all applicable regulations. All users are subject to our KYC/CDD procedures prior to using our services. Unauthorized access to Your Kyrrex US Account by unregistered Users may result in a breach of the Terms of Use, resulting in the termination of all related Kyrrex Accounts.
9.3. You are responsible for maintaining the confidentiality of his Account’s credentials, including, but not limited to a password, email, wallet address, balance, and of all activity including Transactions made through the Account. Kyrrex personnel will never ask you to disclose this password. We recommend that you change your password every three months in order to reduce the risk of a security breach in relation to the Account. If you have any security concerns about your Account, login details, password, or other security feature being lost, stolen, misappropriated, used without authorization, or otherwise compromised, you must change the password. Contact Support Service at https://kyrrexsupportusa.zendesk.com/hc/en-gb as soon as possible upon becoming aware of any loss, theft, misappropriation, or unauthorized use of your Account, login details, password, or other security features. Any undue delay in notifying Kyrrex may not only affect the security of the Account but may result in you being liable for any losses as a result. If you suspect that someone else accessed your Account, you should also contact any appropriate government agency to report the incident.
9.4. You must take reasonable care to ensure that your email account(s) are secure and only accessed by you, as your email accounts(s) may be used to reset passwords or to communicate with you about the security of the Account. Kyrrex US cannot be liable for the breach of an email account resulting in an unauthorized Transaction executed without proper confirmation. Should the email addresses registered with your Accounts be compromised, you should, without undue delay after becoming aware, contact Support Service athttps://kyrrexsupportusa.zendesk.com/hc/en-gb as well as contact your email service provider. Promptly reporting a security breach does not guarantee that Kyrrex US will reimburse you for any losses incurred, nor will Kyrrex US be held liable for any losses resulting from the security breach.
9.5. Additional products or services accessed by you may have additional security requirements and you must comply with those security requirements as well.
9.6. Irrespective of whether the User is using a public, a shared or the User’s own computer to access the Account, the User must always ensure that the User’s login details are not stored by the browser, cached, or otherwise recorded. The User should never use any functionality that allows login details or passwords to be stored by the computer they are using.
9.7. Two-factor authentication must be enabled in order to make any withdrawals. Kyrrex maintains multi-vector security settings to protect your assets and the Kyrrex ecosystem from bad actors. We closely monitor the potential vulnerability of users who may be more likely a target for fraudsters and/or susceptible to fraud.
9.8. Kyrrex US reserves the right to require a “live“ communication by webcam or “liveness check“ via User’s mobile phone with User to confirm any details or respond to your customer services requests. Such requests will only ever be made via in-app chat or from a Kyrrex US domain email.
9.9. Kyrrex US is aware that scammers can potentially target any digital asset platform providers with fake sites and fake customer service provision. You therefore agree to check any incoming messages to you which appear to originate from Kyrrex US by checking the originating email address and website address; no variations should be accepted by you other than a Kyrrex US suffix/domain. If you are unsure, never click on any suspicious link and contact Kyrrex US with your User number onhttps://kyrrexsupportusa.zendesk.com/hc/en-gb for support. Kyrrex US will never seek “remote access“ to your Account; if you are asked by anyone purporting to be from Kyrrex US to supply access to your screen, immediately halt communications, change your password and contact Customer Services to advise us you may have been targeted by a scammer.
9.10. Kyrrex US will aim to support any Account restrictions you wish to put in place from our “Additional Customer-Driven Security Options“. These may change from time to time, but include:
transaction alerts
withdrawal restrictions
two-factor authentication
Pre-transaction authorization
re-verification/advance advice; and other measures.
9.11. You agree that changes to your Account settings which reduce your security may require verification to ensure we are engaging with you as a legitimate User.
10. BIOMETRIC DATA
10.1. Consent to the Collection, Storage, Use, and Transmission of Biometric Data. When you create your Account, Kyrrex US or its subcontractor(s) may collect, store, use, and transmit Biometric Data solely for identity verification and fraud prevention purposes. By creating the Account, you authorize Kyrrex US or its subcontractor to carry out these actions with your Biometric Data.
10.2. Disclosure of Biometric Data. Kyrrex US will protect your biometric data from unauthorized disclosure using reasonable measures consistent with industry standards. Kyrrex US will not disclose your Biometric Data to any person or entity other than our affiliates and subcontractors for the purposes specified in these Terms, unless (a) Kyrrex US has obtained your written consent; (b) the Biometric Data must be disclosed to complete a financial transaction authorized by you or otherwise to provide you with any Services; (c) disclosure is required by state or federal law; or (d) disclosure is required pursuant to a valid warrant or subpoena or request from law enforcement.
10.3. Kyrrex US will not sell, lease, or trade your biometric data.
10.4. Retention of Biometric Data and Destruction Schedule. Kyrrex US will permanently destroy your Biometric Data when either (a) the initial purpose for collecting or obtaining such data has been satisfied or (b) the record retention rules have been satisfied.
11. ACCOUNT CREATION
11.1. USA PATRIOT Act Notification. As a Money Services Business in the United States, Kyrrex US must comply with Section 326 of the USA PATRIOT ACT; which requires all financial institutions to obtain, verify, and record personal information that identifies each person who opens the Account. This federal requirement applies to all Users. This personal information is used to assist the United States government in the fight against the funding of terrorism and money-laundering activities. For further information regarding our use and storage of your personally identifying information, please refer to Kyrrex US’s Privacy Policy.
11.2. In order to create an account, you must provide the required identification information pursuant to our Bank Secrecy Act (“BSA”) and Anti-Money Laundering (“AML”) Compliance Program (collectively, our “BSA/AML Program”).
11.3. Identification and verification procedures (also known as 'Know Your Customer' or 'KYC') are required for all Transactions. All new and existing Users of the Platform must pass the verification procedures. Kyrrex US reserves the right to limit the Platform functionality to Users who have not passed verification. If you refuse to provide required documents and information under KYC procedures, Kyrrex US reserves the right to immediately terminate the Services provided to you.
11.4. You undertake to provide Kyrrex US with correct and relevant documents and personal information. If a User provides counterfeit documents or false personal information, such behavior will be interpreted as fraudulent activity and reported to the relevant governmental authorities.
11.5. Kyrrex US may conduct periodic reviews of the User account information as mandated by Kyrrex US regulators. To ensure compliance with the applicable regulations, Kyrrex US must represent that the personal information and account information used to compile the User customer profile is up to date and accurate.
11.6. You hereby authorize Kyrrex US to, directly or indirectly (through third parties), make any inquiries as we consider it necessary to check the relevance and accuracy of the information provided for verification purposes. Personal information transferred will be limited to only the data that is strictly necessary and will only be transmitted with security measures in place to protect the data.
11.7. You agree, represent, and warrant that any Digital Assets deposited to your Account, as well as any Fiat currency used in connection with the Site, belong to you and are sourced lawfully. Furthermore, you affirm that all funds in your account, past or future, in your Account, are not the direct or indirect proceeds of any criminal or fraudulent activity.
11.8. Kyrrex US has also the right to request you to provide additional verification documents even if you have already passed the verification process to ensure the effective implementation and enforcement of Bank Secrecy Act ('BSA') and KYC Policy and applicable regulatory requirements. If a User does not respond to such requirements in a timely manner Kyrrex US has a right to limit its Services or to stop providing them until the requirements are met.
11.9. In order to use any of the Service(s), you must first register to use the Service(s) by providing your email and/or mobile phone number, full name, date of birth, residential address, government identification number, taxpayer identification number and other personal or company information to verify your identity along with affirming these Terms.
11.10. You are allowed to register only one Account on the Platform. Thus, any additional Account created by the same User may be suspended or closed.
11.11. You also agree that all actions conducted on your Account are recognized as those made on your behalf and at your own discretion.
11.12. You agree to provide us accurate and authentic information we request at registration and on an ongoing basis for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including without limitation a copy of your government issued photo ID, or evidence of address or domicile, such as a lease or utility bill. You further certify under penalty of perjury that all information provided by you is correct, accurate and authentic.
11.13. If any information provided by you changes, it is your obligation to provide to Kyrrex US such updated information as soon as possible. We may, in our sole discretion, refuse to allow you to register to use the Service(s) or limit Users from registering multiple accounts. By registering an Account with Kyrrex US, you agree and represent that you will use that Account only for yourself, and not on behalf of any third party, unless approved by Kyrrex US. If you plan to use the Service(s) on behalf of a legal entity, such a legal entity shall register a corporate account with Kyrrex US and you shall not use your individual account for business purposes.
12. GOVERNING LAW
12.1. Your conduct on the Site is subject to compliance with the following laws and regulations, but please note that this list is not exhaustive.
The Bank Secrecy Act of 1970 (“BSA”);
The USA PATRIOT Act of 2001 (“PATRIOT Act”);
Money Services Business (“MSB”) regulations under the Financial Crimes Enforcement Network (“FinCEN”);
Applicable state money transmission laws (“MTL”);
Applicable regulations and guidance set forth by FinCEN;
Applicable regulations and guidance set forth by Internal Revenue Service (“IRS”) and applicable state taxation authorities; and
Applicable regulations and guidance set forth by the Federal Trade Commission (“FTC”).
12.2. You agree and understand that by signing up and using Kyrrex US's Services in any capacity, you agree to act with compliance, and are legally bound by these Terms, and all applicable laws and regulations.
13. PROHIBITED TRANSACTIONS
13.1. You must not use your Kyrrex US Account to undertake any of the activities set out in this section (each a “Prohibited Activity”):
violation of any laws, statutes, ordinance or regulations;
undertaking, facilitating or supporting criminal activity of any kind, including but no limited to, money laundering, malicious hacking, terrorist financing, or proliferation of weapons of mass destruction;
human trafficking;
any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organizations glorifying war or violating human dignity;
intellectual property infringement;
archaeological findings;
drugs, narcotics or hallucinogens;
weapons of any kind;
illegal gambling services;
ponzi, pyramid or any other “get rich quick” schemes;
goods that are subject to any trade embargo;
media that is harmful to minors and violates laws and, in particular, the provision in respect of the protection of minors;
body parts or human remains;
protected animals or protected plants;
transactions involving dark web networks (e.g. TOR, I2P and Freenet);
weapons or explosive materials;
any other illegal goods, services or transactions; and
any Market Manipulation. Users are prohibited from engaging in any kind of market manipulation actions which specifically includes, without limitation: front-running, wash trading, spoofing, layering, churning, and quote stuffing. This may include actions on Kyrrex US Platform and/or outside of Kyrrex US Platform. Actions regarded by Kyrrex US as market manipulation will result in blocking User's Account on the Platform with the right to use blocked Funds for reimbursement of negative consequences appeared due to mentioned manipulation at sole discretion of Kyrrex US.
13.2. Activities subject to the prior written approval of Kyrrex US. Unless you have obtained the prior written approval of Kyrrex US, you accept and agree that you will not use your Kyrrex US Account to conduct or operate any of the following business activities or categories of activity:
money services, including but not limited to money or digital asset transmission, currency or digital asset exchange or dealing, payment service providers, e-money or any other financial services business;
charitable or religious / spiritual organizations;
consumer lending services, including but not limited to secured and unsecured loans, cash advances, payday lending; and
investment funds, asset management, or brokerage services.
13.3. We reserve the right to restrict, suspend or terminate your Kyrrex US Account if we suspect, in our sole discretion, that you are using, or have used, your Kyrrex US Account in association with any of the activities listed above, or any similar or related activity, without having obtained the prior written approval of Kyrrex US.
14. GAMBLING POLICY
14.1. Kyrrex US prohibits the use, facilitation, or movement of Funds on our Platform which contribute to illegal gambling. As such, you agree and acknowledge that Kyrrex US has the right to:
conduct an investigation into the source or use of Funds in your Account, related to gambling;
suspend or Freeze your access to his Account or Funds in his Account, or
terminate your Account;
if we suspect, in our sole discretion, any such activity to be in violation of Kyrrex US Gambling Policy.
14.2. Kyrrex US uses a variety of applications to monitor for violations of our Gambling Policy. If Kyrrex US suspects you may work or associate with any industry that is closely related, intertwined or in close proximity to gambling, we may, in our sole discretion, ask you to sign a Gambling Attestation, certifying that you will not use Kyrrex US or any of our Services to facilitate any illegal gambling activities.
15. SANCTIONS AND EXPORT CONTROL
15.1. Your use of Kyrrex US Services and the Site is subject to applicable requirements under export control laws and sanctions. By sending, receiving, buying, selling, converting, trading, or storing Digital Assets through any Kyrrex US service, you agree that you will comply with all applicable laws. By using Kyrrex US services, you agree and warrant that you are not an individual or entity that is the subject or target of any sanctions and that you are not:
an entity directly or indirectly owned or controlled by any person located, organized or resident in a sanctioned jurisdiction or any person listed on the Sectoral Sanctions Identifications List (“SDN List”) list or other similar lists maintained by a any other relevant government authority;
named in any sanctions-related list maintained by the U.S. Department of State, the U.S. Department of Commerce, or the U.S. Department of the Treasury, including the Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons List, the SDN List or any similar list maintained by any other relevant governmental authority;
organized, or resident in a sanctioned jurisdiction (current list).
15.2. You are not permitted to use any of our Services if: (1) we are prohibited from providing Services to you under any applicable laws and regulations, including but not limited to applicable Sanctions; or (2) you intend to transact or deal with any Sanctioned Person, or otherwise transact or deal with any person in violation of Sanctions.
16. ACCOUNT INVESTIGATIONS
16.1. You agree and acknowledge that based on Kyrrex US's regulatory obligations, Kyrrex US has a duty to investigate any activity that may be unusual, suspicious, and/or in furtherance of an attempted violation of applicable law or Kyrrex US Policy.
16.2. During the course of Kyrrex US’s account investigation, Kyrrex US may: (1) Freeze a User Account and all Accounts beneficially owned by you and any members of such User’s household, or for which you are a representative or authorized signatory and, in the case of entities, any affiliate; (2) Freeze any Funds or assets in the Account while the investigation is being conducted; (3) Suspend your access to Kyrrex US Services or any affiliated Kyrrex US Platforms, until a determination has been made, if we suspect, in our sole discretion, you and/or any related accounts under common control to be in violation of: (i) any provision of these Terms of Use; (ii) the BSA/AML Program; (iii) any applicable laws or regulations by any of Kyrrex US's regulators; (iv) any of Kyrrex US's applicable Policies as incorporated by reference herein.
16.3. You further agree and understand that until a final determination or conclusion of the account investigation occurs, Kyrrex US may Freeze or suspend your Account, including but not limited to, under the following scenarios:
You and/or your Account are subject to any pending litigation, investigation, or governmental proceeding.
You and/or your Account are being investigated by a regulatory authority, subject to a court order, facially valid subpoena, or binding order of a government authority.
Your Account has a negative balance for any reason.
We believe an unauthorized person is attempting to access your Account.
There is unusual or suspicious activity on the Account.
Your Account has been accessed from a sanctioned jurisdiction or a jurisdiction Kyrrex US is not authorized to operate.
17. GENERAL OBLIGATIONS
17.1. Payment Methods. Our services may allow for a variety of convenient payment options, including but not limited to Apple Pay, Google Pay, credit card and debit card. You must own the payment method. Upon receipt of your instructions to purchase Digital Assets, Kyrrex US can not cancel this purchase. You cannot withdraw your consent to that purchase.
17.2. By agreeing to use the Site’s services, you understand and accept that processing of any of your payments is executed by the payment service provider, and there is no statutory right of revocation of already purchased goods and/or services or any other opportunities to cancel the payment.
The payment service provider is not responsible for any failure to process the data related to your payment card, or for the issuing bank’s refusal to provide authorization of the payment with your payment card. The payment service provider is not responsible for the quality, quantity, price, terms of use of any goods and/or services or other facilities offered to you or purchased by you from the Site by using your payment card. When you pay for any of the Site’s goods and/or services, you are primarily bound by the Site’s Terms of Use. Please note that only you, as the cardholder, are responsible for paying for all goods and/or services you have ordered through the Site and for any additional expenses/fees that can be applied to this payment. The payment service provider acts only as the executor of the payment in the amount stated by the Site, and it is not responsible for pricing, total prices, and/or total sums.
17.3. Transaction Limits. Please be aware that the utilization of our Services is subject to transaction limits, which are defined in U.S. Dollar terms and apply over a specific period (e.g., daily). To access and review your current transaction limits, kindly log in to your Kyrrex US and visit Kyrrex US’s Fees and Commissions webpage. Transaction limits may vary based on the chosen payment method, completed verification steps, and other relevant factors. If you desire to increase your transaction limits beyond the preset amounts, you have the option to submit a request through https://kyrrexsupportusa.zendesk.com/hc/en-gb. However, it is essential to note that Kyrrex US reserves the right to modify applicable limits and may choose not to raise them based on our sole discretion, as we deem necessary.
17.4. Unauthorized and Incorrect Transactions. If you become aware of any suspicious or unauthorized use of your account(s) or login credentials, please notify us immediately at https://kyrrexsupportusa.zendesk.com/hc/en-gb. Reporting an unauthorized transaction does not guarantee Kyrrex US will be able to reverse the transaction or reimburse you for the transaction.
17.5. Should a User receive an amount exceeding the withdrawal amount requested by the User pursuant to the Platform’s technical problem/error/glitch, the User undertakes to immediately notify Kyrrex US and to return the excess amount to the User’s Kyrrex US Account. In such instances, the User agrees that Kyrrex US has a right to unilaterally withdraw this excess amount from the User’s Kyrrex US Account without notification. Should Kyrrex US become aware of such Platform’s technical problem/error/glitch and that the User has received the amount exceeding the requested withdrawal amount, the User acknowledges and agrees that Kyrrex US has a right to switch off withdrawals on the User’s Kyrrex US Account. When Kyrrex US became aware of such Platform’s technical problem/error/glitch and requested the User to return the excess amount to his Kyrrex US Account, but the User does not return the requested Funds within 60 (sixty) calendar days, Kyrrex US reserves the right to unilaterally sell the User’s Cryptocurrency that it has in its Kyrrex US Account in the necessary proportional amount at any moment thereafter by market order and to use the proceeds to set off the debt that the User owes to Kyrrex US. Kyrrex US has a right to claim the full cover of the exceeding amount using all available legal options, including by selling a User’s Cryptocurrency.
17.6. Insufficient Balances. If you choose to use a card (e.g. credit or debit card) for purchasing Digital Assets, you acknowledge and agree that you will not initiate a chargeback unless it is for unauthorized use of the debit card or as explicitly allowed by applicable law. A chargeback is a process where a credit or debit cardholder disputes a transaction, leading to a potential reversal of the transaction and return of funds to the cardholder's account. This can occur in cases of unauthorized, fraudulent, or unsatisfactory transactions. In such cases, we will fully cooperate to resolve any legitimate disputes. We will not issue refunds for any purpose other than as otherwise permitted by law, and this includes instances of insufficient balances in the debit card account. By proceeding with the purchase, you confirm your understanding and acceptance of these terms.
17.7. Deposits, Withdrawals and Double Spending. You will only withdraw any Digital Assets from your Account to wallets you own (custodial and non-custodial). Under no circumstance will you send payments to third parties or receive payments from third parties. Kyrrex US shall incur no liability for payments made to third parties or accounts which don’t belong to you.
17.8. Transactions. Kyrrex US allows you to submit Orders to buy or sell Digital Assets. You recognize that an Order should only be submitted after careful consideration and conducting your own research. You agree that as soon as the Order is executed, such Transaction is irreversible and may not be canceled. Transactions will be executed instantly upon the matching of the buyer's and the seller's Orders without prior notice to the buyer and the seller and will be considered to have taken place at the execution date and time.
17.9. You are responsible for properly checking and filling in all Transaction details during the Deposit or the Withdrawal of Digital Asset or Fiat.
17.10. You acknowledge and agree that if Transaction details are not specified or are incorrectly indicated within the Transaction the User may lose their funds.
17.11. Minimum and maximum Order amounts may vary for each trading pair and can be seen on the trade page when placing an Order.
17.12. You also acknowledge and agree that Deposit and Withdrawal transactions in Fiat currency may be delayed due to some bank verifications and checks. Similarly, and due to the inherent nature of the Digital Asset networks, depositing and withdrawing Digital Asset into/from your Account may take some time.
17.13. Unverified Users are not allowed to withdraw any Digital Asset from their Account within forty-eight (48) hours after the Account was created.
17.14. If the User discovers transaction unusual activity, including but not limited to unknown deposits and withdrawals, on their Account that was not initiated by the User, the User shall immediately notify Kyrrex US of this fact and follow the instructions sent by Kyrrex US. Otherwise, Kyrrex US reserves the right to freeze the Account until the end of the investigation.
17.15. Kyrrex US may be forced to cancel or recall already executed Withdrawal transaction at the request of financial institutions, including but not limited to banks, which are involved in the settlement of such transactions. In such cases, the User is obliged to cooperate with Kyrrex US in order to discover the reasons for such request.
17.16. The minimum Deposit amount for each Digital Asset deposit can be found on the Trading Fees page. If the amount is less than specified, the funds will not be credited to the User's Account.
17.17. Kyrrex US reserves the right but not an obligation at the User’s request to recover in certain situations incorrectly sent by the User to its Kyrrex US account Cryptocurrency Deposit. Detailed process and all conditions of such recovery together with the Application Form are available here.
17.18. The User acknowledges and agrees that the attempt to recover the incorrectly sent Cryptocurrency Deposit may incur a non-refundable fee from the Cryptocurrency Deposit amount. This fee will be calculated from the original amount of the User’s Deposit and charged in the Deposits Cryptocurrency.
17.19. The User agrees that the Kyrrex US team can start the Cryptocurrency Deposit recovery process only if the User has a sufficient amount of funds on its Account to cover this Cryptocurrency recovery fee.
17.20. The User acknowledges and agrees that this recovery fee will be charged regardless of the recovery outcome as the Kyrrex US team uses significant resources to investigate the case, develop, and implement technical solutions.
17.21. The User acknowledges and agrees that the decision to recover a Cryptocurrency Deposit incorrectly sent by the User remains fully at the sole discretion of the Kyrrex US team, as it will investigate every case and estimate whether or not it can attempt to recover these funds.
17.22. The User acknowledges and agrees that the attempt to recover the incorrectly sent Fiat Withdrawals incurs a non-refundable fee in the amount of 50 (fifty) USD.
17.23. The User agrees that the Kyrrex US team can start recovering Fiat incorrectly sent by the User only in instances where the User has the sufficient amount of funds on its Account to cover this fiat recovery fee.
17.24. During the internal Users migration between Kyrrex US companies process or system upgrades, Kyrrex US reserves the right to implement the following temporary restrictions without prior notice:
Suspension of User internal transfers within Kyrrex US products: Kyrrex US may temporarily suspend User’s internal transfers within Kyrrex US products to maintain the integrity, safety and accuracy of User’s funds during the migration process.
Suspension of creation of new User Orders: Kyrrex US may temporarily suspend Users’ ability to create new Orders to maintain stability and consistency in the order book.
Cancellation of open User Orders: All or some part of open User Orders may be canceled during the migration process to prevent conflicts with system upgrades and ensure a seamless transition.
Internal transfers: within the internal Users migration Kyrrex US can transfer Users funds within Kyrrex US’s products to maintain the integrity of User’s balances during the migration. The User agrees that within such internal transfers the Rounding Policies may apply.
17.25. These restrictions are implemented to safeguard User assets and to facilitate the successful completion of the migration process. Kyrrex US will make reasonable efforts to minimize downtime and disruptions to Users' trading activities. Users are encouraged to review Kyrrex US's announcements for updates and timelines related to migration and system upgrades.
18. ACCOUNT CLOSURE
18.1. At any time, you may provide written notice requesting that his Account be closed. Any User seeking Account closure will receive written confirmation by Kyrrex US affirming such a request; however, account closure will not end any open investigation into a User's Account or prevent the reporting of any suspicious activity to the relevant governmental authorities.
18.2. You agree and understand that closing the Account will not affect any rights and obligations incurred prior to the date of the Account closure. You may be required to either cancel or complete all open orders and, in accordance with the provisions of these Terms of Use, provide transfer instructions indicating where to transfer any Fiat currency and/or Digital Assets remaining in your Account . You are responsible for any fees, costs, expenses, charges, or obligations (including, but not limited to, attorney and court fees or transfer costs of USD currency or Digital Assets) associated with the closing of your Account. In the event that the costs of closing of your account exceed the value in your Account, you will be responsible for reimbursing Kyrrex US. You may not close any of his Accounts to avoid paying any fees incurred or to avoid any examination related to Kyrrex US’s BSA/AML Policy.
18.3. You agree and acknowledge that if your Account is determined, in Kyrrex US’s sole discretion, to have breached the Terms of Use, Kyrrex US reserves the right to debit from all related accounts: (i) the value of any trading fee discounts, fee rebates or incentives that were conferred over the period of time looking back to the initial breach of the Terms of Use; and (ii) any damages suffered by Kyrrex US as a result of your violation of the Terms of Use. You further agree and acknowledge that if Kyrrex US determines in our sole discretion that you have coordinated, colluded, or conspired with any other User on the Platform to commit Market Manipulation, you will be jointly and severally liable for the entire value of all of the: (i) value of any trading fee discounts, fee rebates or incentives that were conferred over the period of time looking back to the initial breach of the Terms of Use; (ii) any damages suffered by Kyrrex US as a result of your violation of the Terms of Use. Kyrrex US reserves the right to deduct such amounts related to these violations directly from all related accounts.
19. TERMINATION OF TERMS
19.1. You may terminate the Terms by closing your Account at any time, following settlement of any pending transactions.
19.2. You also agree that Kyrrex US may, by giving notice, at its sole discretion terminate your access to the Site and to your Account, including without limitation, our right to: limit, suspend or terminate the Service and your Account, prohibit access to the Site and its content, Services, and tools, delay or remove hosted content and take technical and legal steps to keep you off the Site if we think that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties or acting inconsistently with the letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of yours for any reason, including without limitation: (1) attempts to gain unauthorized access to the Site or another User's account or providing assistance to others attempting to do so, (2) overcoming software security features limiting the use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms of Use, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Kyrrex US, acting at its sole discretion.
19.3. Kyrrex US also reserves the right to cancel unverified Accounts or Accounts that have been inactive for a period of six (6) months or more and/or to modify or discontinue our Site or Service. You agree that Kyrrex US will not be liable to them or to any third party for termination of their Account or access to the Site.
19.4. The suspension of the Account shall not affect the payment of the Transaction fees due for past Transactions. Upon termination, you shall provide valid bank account details or Digital Assets address to allow the transfer of any currencies deposited to your Account. Kyrrex US shall transfer the currencies as soon as possible following your request in the time frames specified by Kyrrex US.
19.5. Kyrrex US will send the credit balance of your Account to You, however, in circumstances, a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. Kyrrex US will use reasonable efforts to ensure that such charges are disclosed to you prior to sending the payment; however, where they cannot be avoided, you acknowledge that these charges cannot always be calculated in advance and that he/she agrees to be responsible for such charges.
19.6. Kyrrex US may terminate this agreement immediately if you:
became, or is likely to become, insolvent or are declared bankrupt;
is in breach of any provision of the Terms of Use;
your use of the Service or the Site is disruptive to our other Users, or you does anything which, in our opinion, is likely to bring us into disrepute;
breach or attempt to breach the security of the Site (including but not limited to: modifying or attempting to modify any information; unauthorized log-ins, unauthorized data access or deletion; interfering with the Service, system, host or network; reverse engineering of any kind; spamming; hacking; falsifying data; introducing viruses, Trojan horses, worms or other destructive or damaging programs or engines; or testing security in any way).
20. UNCLAIMED FUNDS
20.1. If your Account remains closed or dormant for a long enough period of time, Kyrrex US may be required to report any remaining Funds in your Account as unclaimed property in accordance with abandoned property and escheatment laws applicable in your state of residence. Kyrrex US will make all reasonable efforts to provide written notice to you, utilizing the contact information you shared with Kyrrex US. Kyrrex US reserves the right to deduct a dormancy fee or other administrative fee from such unclaimed funds as permitted and/or required by applicable state law.
21. DIGITAL ASSETS AVAILABILITY
21.1. In our sole and absolute discretion, Kyrrex US may remove one or more Digital Assets from the Site. This may occur for several different reasons, such as increased legal, market or regulatory risk. When Digital Assets are removed from our Site (referred as “delistings”), you will no longer be able to access such Digital Assets as part of our services and will no longer be able to maintain balances in such Digital Assets or make any deposits or withdrawals.
21.2. You hereby acknowledge and consent to our ability to take such delisting actions, including, without limitations, to cancel your outstanding Orders with respect to delisted Digital Assets and require you to remove delisted Digital Assets within a reasonable period of time, beyond which you will no longer be able to access the delisted Digital Assets.
21.3. Indemnified Persons shall not be liable for any direct or indirect losses (including loss of profits, business, or opportunities), damages or expenses suffered by you or any other person or entity as a result of any act or omission by Indemnified Persons in accordance with these Terms.
21.4. You understand that Kyrrex US does not own or control the underlying software protocols of Digital Assets networks that govern the operation of Digital Assets. In general, the underlying protocols are open source, and available to anyone who can use, copy, modify, and distribute them. You agree and understand that: (i) Kyrrex US is not responsible for the operation of the underlying protocols, and (ii) Kyrrex US makes no guarantees regarding their security, functionality, or availability. Kyrrex US may choose to support or delist Digital Assets in its sole discretion.
21.5. All Digital Assets that are unsupported by Kyrrex US but operate on the underlying protocol of any of the supported digital assets will not be covered by Kyrrex US.
22. DIGITAL ASSETS TITLE AND CUSTODY
22.1. We may utilize a third-party custodial service. Except as otherwise specifically provided in these Terms, all Digital Assets held in your Kyrrex US Wallet are custodial assets held by Kyrrex US for your benefit, as described in further detail below. Title to your Digital Assets shall at all times remain with you and shall not transfer to Kyrrex US. All interests in Digital Assets we hold for Kyrrex US Wallets are held for customers, are not property of Kyrrex US, and are not subject to claims of our creditors.
22.2. As owner of the Digital Assets in your Kyrrex US Wallet, you shall bear all risk of loss of such Digital Assets. Kyrrex US shall have no liability for Supported Digital Asset fluctuations or loss. None of the Supported Digital Assets in your Digital Asset Wallet are the property of, or shall or may be loaned to, Kyrrex US; Kyrrex US does not represent or treat assets in User’s Digital Assets as belonging to Kyrrex US. Kyrrex US may not grant a security interest in the Digital Assets held in your Digital Asset Wallet.
22.3. Notwithstanding the foregoing and anything to the contrary in these Terms, all such assets are subject to Kyrrex US’s recovery rights as set forth in the Terms. This section does not abridge, modify, invalidate, supersede, or extinguish any of Kyrrex US’s rights described elsewhere in these Terms.
22.4. Kyrrex US does not make any representation as to the likely treatment of the assets in your Digital Asset Wallets in the event that you, Kyrrex US, or any third-party custodial service we may use becomes subject to an insolvency proceeding whether in the U.S. or in any other jurisdiction. You explicitly understand and acknowledge that the treatment of such assets in the event of such an insolvency proceeding is unsettled, not guaranteed, and may result in a number of outcomes that are impossible to predict, including but not limited to the total loss of any and all such assets.
23. OPERATION OF DIGITAL ASSET PROTOCOLS
23.1. The underlying software protocols governing the operation of Digital Assets are not owned or controlled by Kyrrex US. We assume no responsibility for the operation of the underlying protocols, which are generally open source, allowing anyone to use, copy, modify, and distribute them, and we do not guarantee the functionality or security of network operations. You agree and understand that the underlying protocols of supported Digital Assets are subject to changes in the protocol operating rules. Such an event may lead to a “Fork” whereby the network protocol may disagree on the proposed change in protocol, thereby resulting in only part of the network adopting the new protocol with the result that the network will bifurcate into different blockchains with one adopting the new protocol and the other rejecting the proposed protocol. Although each potential Fork is different, it may result in more than one version of the blockchain or Digital Assets following the Fork. You further agree and understand that Forks may substantially affect the value, function, and transaction speed of the Digital Assets you hold at Kyrrex US. Kyrrex US will use reasonable discretion to determine which Forked blockchain is supported by the greatest number of miners and users, and to determine which Forked blockchain may be supported. Kyrrex US has no control over the timing and features of Forks. It is your responsibility to stay informed about upcoming changes and thoroughly assess publicly available information, as well as any details provided by Kyrrex US, before deciding whether to continue using a Kyrrex US Account for the affected Digital Asset.
23.2. In the event of a Fork, you agree and understand that Kyrrex US reserves the right to temporarily suspend the operations of the affected network protocols, while we determine, in our sole discretion, which, if any, Forked blockchain to support. As each Fork is different, you agree and understand that the determination made by Kyrrex US in regard to the Forked blockchain is under no time constraints or deadlines, and our determination to support, or not support, a Fork may be changed at our sole discretion. Under certain circumstances, if a Fork is not supported, the Digital Assets resulting from the unsupported blockchain may become the property of Kyrrex US. You agree and acknowledge that prior to any Fork, you have the right to withdraw your Digital Assets and retain the unsupported blockchain at your own discretion, bearing the sole responsibility for any risks incurred.
23.3. By using Kyrrex US services, you acknowledge and accept the risks associated with operating changes to Digital Asset protocols. Kyrrex US is not liable for any loss of value you may experience due to such changes. You also acknowledge that Kyrrex US has the sole discretion to determine its response to any Fork and is not obligated to support unsupported digital assets or protocols. Furthermore, Kyrrex US has no responsibility to support new Forks.
24. DEATH OF ACCOUNT HOLDER
24.1. You agree that in the event of your death, the representative(s) of your estate or the survivor or survivors shall give Kyrrex US written notice thereof as soon as practicable. If Kyrrex US receives legal documentation or has reason to believe you have died, Kyrrex US will Freeze your account.
24.2. Your account will be frozen until a representative of your estate or authorized beneficiary, (1) opens a Kyrrex US Account (if located in a state we serve) or (2) instructs us to liquidate the assets of the Account less any fees and costs associated with the transfer and we will transfer via wire or ACH.
24.3. Our ability to provide your representative(s) with the assets in your Account is subject to the restrictions imposed by law, regulation, court orders, technical capabilities, best practices, and these Terms.
25. RECOURSE FOR BREACH OF THE TERM OF USE
25.1. The User agrees and acknowledges, if the User’s Account, and any related Account under common control, is determined, in Kyrrex US’s sole discretion, to have breached the Terms of Use, Kyrrex US reserves the right to debit from all related accounts: (i) the value of any trading fee discounts, fee rebates or incentives that were conferred over the period of time looking back to the initial breach of the Terms; and (ii) any damages suffered by Kyrrex US as a result of the User’s violation of the Terms of Use.
25.2. The User further agrees and acknowledges that if Kyrrex US determines in our sole discretion that the User has coordinated, colluded, or conspired with any other User on the Platform to commit Market Manipulation actions which specifically includes, without limitation: front-running, wash trading, spoofing, layering, churning, and quote stuffing, the User and the associated Users will be jointly and severally liable for the entire value of all of the: (i) value of any trading fee discounts, fee rebates or incentives that were conferred over the period of time looking back to the initial breach of the Terms of Use; (ii) any damages suffered by Kyrrex US as a result of your violation of the Terms of Use. Kyrrex US reserves the right to deduct such amounts related to these violations directly from all related accounts.
26. SERVICES AVAILABILITY
26.1. All Services are provided “AS IS”, without guarantees of any kind, either expressed or implied.
26.2. Kyrrex US will strive to keep the Site up and running; however, all online Services suffer from occasional disruptions and outages and Kyrrex US is not liable for any disruption or loss you may suffer as a result. Thus, Kyrrex US does not provide any guarantees that access to the Site will not be interrupted or that there will be no delays, failures, errors, omissions, or loss of transmitted information.
26.3. Kyrrex US will use reasonable endeavors to ensure that you can normally access the Site in accordance with the Terms of Use. Kyrrex US may suspend use of the Site for maintenance and will make reasonable efforts to give you a notice. You acknowledge that this may not be possible in an emergency. You may always check the status of Kyrrex US at any time. Kyrrex US is not liable or responsible for any damages incurred by you as a result of maintenance or downtime.
27. API, WIDGETS, AND MOBILE APPLICATIONS
27.1. API requests limit is determined on a case-by-case basis by the respective separate contracts.
27.2. You may share API data with any third-party (e.g. developers, agencies, vendors, approved partners, or other Users, etc.) by sharing the unique API Key(s) and the API documentation (hereinafter - APIs) issued to you for purposes of the Kyrrex US API Trading Partnership Program.
27.3. If you share your APIs, you agree and acknowledge that you are solely responsible for familiarization and abidance by these Terms of Use by third parties. Third-party is obliged not to use the API to send spam or take any actions that violate Kyrrex US’s Terms of Use and should comply with all applicable laws (including privacy laws and regulations and economic sanctions laws and regulations).
27.4. As a general rule, Kyrrex US will not tolerate any use of Kyrrex US API service, which is illegal, damages or is likely to damage Kyrrex US’s reputation, the availability or integrity of Kyrrex US’s API service or which causes us or threatens to cause us to incur any legal, tax, regulatory or any other liability.
27.5. You agree and understand that you specifically disclaim any liability or responsibility of Kyrrex US for the management, maintenance, and/or security of your API Key(s).
27.6. Furthermore, you will indemnify and hold harmless Kyrrex US from and against any claims brought related to your breach of these Terms of Use in connection with the use of the APIs or the use of the APIs by any third party that you have given access to the APIs.
27.7. You are obliged not to use the APIs to take any actions that violate these Terms of use and other documentation which Kyrrex US provides. You oblige not to attempt to hack or change the Kyrrex US API Trading Partnership Program or API technology. Kyrrex US may throttle your use of the APIs at any time. Kyrrex US may monitor your use of the APIs for compliance with these rules. Kyrrex US may deny access to the APIs to any third party if this third party tries to go around or exceed the limitations Kyrrex US set or breaches Kyrrex US’s Terms of Use or any other Policy.
27.8. Kyrrex US may provide widgets for the User’s use to put our data on the User’s websites. The User is free to use widgets in their original unmodified and unaltered state.
27.9. Kyrrex US may provide applications , which can be used to get access to the Account. The use of these applications is subject to these Terms of Use.
28. CHOICE OF LAW
28.1. The Terms shall be interested and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of laws principles thereof.
29. INTELLECTUAL PROPERTY
29.1. All content on the Site is the property of Kyrrex US and is protected by copyright, patent, trademark, and any other applicable laws unless otherwise specified hereby.
29.2. The trademarks, trade names, service marks, and logos of Kyrrex US and others used on the Site (hereinafter the “Trademarks”) are the property of Kyrrex US 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 Kyrrex US. 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.
29.3. Kyrrex US 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 legal@Kyrrex Operations LLC.
30. LIMITATION OF LIABILITY
30.1. IN NO EVENT SHALL KYRREX US, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND ALL THIRD PARTY SERVICE PROVIDERS BE LIABLE TO YOU OR ANY OTHER PERSON OR ENTITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING ANY THAT MAY RESULT FROM (I) ACCURACY, COMPLETENESS OR CONTENT OF THIS SITE, OR ANY OF KYRREX US RELATED MEDIUMS OF COMMUNICATION, INCLUDING TELEGRAM, BLOG, FACEBOOK, TWITTER, (II) ACCURACY, COMPLETENESS OR CONTENT OF ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (III) THE SERVICES FOUND AT THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IV) PERSONAL INJURY OR PROPERTY DAMAGE OF ANY NATURE WHATSOEVER, (V) THIRD-PARTY CONDUCT OF ANY NATURE WHATSOEVER, (VI) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SERVERS AND/OR ANY AND ALL CONTENT, PERSONAL INFORMATION, FINANCIAL INFORMATION OR OTHER INFORMATION AND DATA STORED THEREIN, (VII) ANY INTERRUPTION OR CESSATION OF SERVICES TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (VIII) ANY VIRUSES, WORMS, BUGS, TROJAN HORSES OR THE LIKE, WHICH MAY BE TRANSMITTED TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IX) ANY USER CONTENT OR CONTENT THAT IS DEFAMATORY, HARASSING, ABUSIVE, HARMFUL TO MINORS OR ANY PROTECTED CLASS, PORNOGRAPHIC, “X-RATED”, OBSCENE OR OTHERWISE OBJECTIONABLE AND/ OR (X) ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF YOUR USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE, OR ANY OF KYRREX US RELATED MEDIUMS OF COMMUNICATION, INCLUDING TELEGRAM, BLOG, FACEBOOK, TWITTER, WHETHER BASED ON WARRANTY, CONTRACT, TORT OR ANY OTHER LEGAL OR EQUITABLE THEORY AND WHETHER OR NOT KYRREX US IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN ADDITION, YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THIS SITE OR THE SERVICES FOUND AT THIS SITE MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE SUCH CAUSE OF ACTION SHALL BE PERMANENTLY BARRED. IN ADDITION, YOU SPECIFICALLY ACKNOWLEDGE AND AGREE THAT IN NO EVENT SHALL KYRREX US’S TOTAL AGGREGATE LIABILITY EXCEED THE TOTAL AMOUNT PAID BY YOU FOR THE PARTICULAR SERVICES THAT ARE THE SUBJECT OF THE CAUSE OF ACTION. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW AND SHALL SURVIVE ANY TERMINATION OR EXPIRATION OF THESE TERMS OF USE OR YOUR USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE.
30.2. TO THE EXTENT PERMITTED BY APPLICABLE LAW, KYRREX US CATEGORICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND/OR NON-INFRINGEMENT. KYRREX US DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE SITE, OR ACCESS TO ANY OF OUR SERVICES, OR ANY OF THE MATERIALS CONTAINED HEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR WITHOUT ERROR.
30.3. IF THIS LIMITATION OF LIABILITY AND DISCLAIMER OF WARRANTIES SECTION CONFLICTS WITH ANY OTHER SECTION OF THIS TERMS OF USE, THIS LIMITATION OF LIABILITY AND DISCLAIMER OF WARRANTIES SECTION SUPERSEDES THE OTHER SECTION.
31. INDEMNITY
31.1. You agree to protect, defend, indemnify and hold harmless Kyrrex US and its officers, directors, employees, agents, and third-party service providers from and against any and all claims, demands, costs, expenses, losses, liabilities, and damages of every kind and nature (including, without limitation, reasonable attorneys’ fees) imposed upon or incurred by Kyrrex US directly or indirectly arising from (i) your use of and access to this Site or the Services found at this Site; (ii) your violation of any provision of the Terms of Use or the Policies or agreements which are incorporated herein; and/or (iii) your violation of any third-party right, including without limitation any intellectual property or another proprietary right. The indemnification obligations under this section shall survive any termination or expiration of the Terms of Use or your use of this Site or the Services found on this Site.
32. NO SOLICITATION
32.1. None of the representations made by Kyrrex US herein constitute an offer to buy or sell or a solicitation of an offer to buy or sell investments, loans, securities, partnership interests, commodities, or any other financial instruments of any kind. Kyrrex US makes no representation or warranty, express or implied, to the extent not prohibited by applicable law, regarding the advisability of investing in securities, funds, partnership interests, or other investments of any kind.
32.2. Any of the content on any of the Kyrrex US’s Sites or mobile applications do not necessarily reflect the views of Kyrrex US as a whole, its directors, officers, employees, shareholders, or any part or member thereof. No information contained on the Kyrrex US Site constitutes or should be construed as, investment, tax, legal, financial, or any other advice
33. FORCE MAJEURE
33.1. If Kyrrex US is unable to perform the Services outlined in the Terms of Use due to the factors beyond its control including but not limited to the event of Force Majeure (including but not limited to any act of war), change of law, or a change in sanctions policy, Kyrrex US will not have any responsibility to you with respect to the Services provided hereunder and for a time period coincident with the event.
34. SEVERABILITY
34.1. If any provision of these Terms of Use shall be determined to be invalid or unenforceable under any rule, law, or regulation of any local, state, or federal government agency, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of these Terms of Use shall not be affected.
35. CHANGE OF CONTROL
35.1. In the event that Kyrrex US is acquired by or merged with a third-party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control. For more information, please refer to Kyrrex USPrivacy Policy.
36. ENTIRE AGREEMENT
36.1. You unequivocally agree and understand that these Terms collectively memorialize the relationship and agreement by and among you and Kyrrex US. These Terms entered into by you and Kyrrex US, supersedes all prior discussions, agreements, or correspondence of any kind.
37. NON-WAIVER OF RIGHTS
37.1. These Terms shall not be construed to waive rights that cannot be waived under applicable state money transmission laws in the state where you are located. Kyrrex US’s failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Kyrrex US. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise.
38. ELECTRONIC TRANSMISSION
38.1. These Terms, and any amendments hereto, by whatever means accepted, shall be treated in all manner and respects as an original contract and shall be considered to have the same binding legal effect as if it were an original signed version thereof, delivered in person. Neither party hereto shall argue that a contract was not formed hereunder based on either (i) the use of electronic means to deliver a signature or to indicate acceptance of this Agreement or (ii) the fact that any signature or acceptance of this Agreement was transmitted or communicated through electronic means; and each party forever waives any related defense.
39. E-SIGN DISCLOSURE AND CONSENT
39.1. Kyrrex US is required to provide you with certain disclosures and information about the use of electronic records and electronic signatures including the electronic delivery of communications, agreements, terms (e.g. Privacy Policy) documents, receipts, notices, and all legal and regulatory disclosures (collectively, “Communications”)
39.2. Consent to Electronic Delivery. You agree and consent to receive electronically all Communications that Kyrrex US and its third party service providers provide in connection with these Terms, your Transactions, your Kyrrex US Account, or any Services.
39.3. Hardware and Software Requirements. In order to access and retain electronic Communications, you will need a computer or other device with an Internet connection that has a current web browser with cookies enabled and 256-bit encryption. You will also need to have a valid email address on file with Kyrrex US and sufficient storage space to save past Communications or an installed printer to print them.
39.4. Withdrawal of Consent. You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to https://kyrrexsupportusa.zendesk.com/hc/en-gb. If you decline or withdraw consent to receive electronic Communications, Kyrrex US may suspend or terminate your use of the Services.
39.5. Updating Contact Information. You must provide us with a true, accurate and complete email address and your contact information, and keep such information up to date. You understand and agree that if Kyrrex US sends you an electronic Communication but you do not receive it because your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Kyrrex US will be deemed to have provided the Communication to you. You may update your information by logging into your account and updating your profile or by contacting us at https://kyrrexsupportusa.zendesk.com/hc/en-gb.
40. PROMOTIONS
40.1. Kyrrex US may host referral programs, giveaways, sweepstakes and other marketing activities (collectively, “Promotions”) from time to time. These Promotions will have their own separate terms of use and in some cases additional privacy policies, which will govern the specific rules, eligibility criteria, and conditions associated with each Promotions. By participating in any future Promotions, users agree to abide by the corresponding terms of use provided at the time of the promotion. Sometimes Kyrrex US utilizes third parties to administer these Promotions. It is important to review and understand the specific terms and conditions, as well as additional privacy policies (if applicable), of each Promotion before entering or participating.
41. WEBSITE ACCURACY, THIRD-PARTY CONTENT AND THIRD-PARTY WEBSITES
41.1. At Kyrrex US, we endeavor to present accurate and up-to-date information on our website. However, the Kyrrex US Site (including its Content) may not always be entirely free from inaccuracies, omissions, or technical errors. We strive to maintain the utmost accuracy, and as part of this commitment, information on the website, including but not limited to policies, products, and services, infographics, images, charts, or other visual representations, may be subject to change or updates without prior notice.
41.2. While we make every effort to provide you with comprehensive and reliable information, we encourage you to independently verify the details before making any decisions based on the information found on the Kyrrex US Site. Your reliance on the content of our website is solely at your own discretion, and Kyrrex US disclaims any liability for decisions made based on such information.
41.3. Please note that historical price and supply data for Digital Assets displayed on our website includes market data, visual representations, infographics, or statistics that may be sourced from third parties are for informational purposes only. Kyrrex US does not make any representations or warranties regarding the accuracy of such third-party information. These materials are not the intellectual property of Kyrrex US, and their use on our website does not imply endorsement or control.
41.4. This Site and the Services found at this Site may contain links to third-party websites or display content (including but not limited to infographics, images, charts, and data) that are not owned or controlled by Kyrrex US. Kyrrex US assumes no responsibility for the content, terms, and conditions, privacy policies, or practices of any third-party websites or for any third-party content displayed on this Site, including its accuracy, completeness, or timeliness. These materials are for informational purposes only and do not imply endorsement or control by Kyrrex US. In addition, Kyrrex US does not censor or edit the content of any third-party websites or third-party materials presented on our Site. By using this Site or the Services found at this Site, you expressly release Kyrrex US from any and all liability arising from Your use of any third-party website or any reliance on third-party content. Accordingly, Kyrrex US encourages you to be aware when you leave this Site, or the Services found at this Site and to review the terms and conditions, privacy policies, and other governing documents of any other website that you may visit.
41.5. Kyrrex US strictly prohibits any form of wash trading or manipulation of trading volumes on its platform. Any content, data, or trading volume information displayed on our Site, whether provided by Kyrrex US or third parties, is for informational purposes only and does not involve or promote wash trading or other manipulative trading practices. Kyrrex US disclaims any liability for activities or decisions related to trading volumes or practices that may be derived from third-party content displayed on this Site.
42. CUSTOMER FEEDBACK, QUESTIONS AND COMPLAINTS
42.1. If you have any feedback, questions or complaints please contact us via email at https://kyrrexsupportusa.zendesk.com/hc/en-gb Operations LLC. We will make every reasonable effort to resolve your complaint within a reasonable period of time and in any event in no longer than sixty (60) calendar days from the time we receive your complaint, depending on the complexity and seriousness of your complaint.
43. MODIFICATIONS AND AMENDMENTS
43.1. Kyrrex US reserves the right to amend or modify any portion of these Terms of Use at any time by publishing the revised version of the Terms of Use on the Site. The changes will become effective and shall be deemed accepted by the User, the first time the User uses the Services after the publishing of the revised Terms of Use and shall apply on a going-forward basis with respect to any activity initiated after publishing. In the event that the User does not agree with any such modification, the User's sole and exclusive remedy is to terminate the use of the Services and close the Account. The User agrees that Kyrrex US shall not be liable to the User or any third party as a result of any losses suffered by any modification or amendment of these Terms of Use.
44. ARBITRATION AGREEMENT
44.1. Applicability. Any claim (as defined below) arising out of or relating to these Terms, and any usage of our Services or Site, shall be exclusively resolved through binding arbitration. The arbitration shall be conducted in the county in which you reside or another mutually agreeable location, including remotely via video conference, administered by National Arbitration and Mediation (”NAM”), rather than in court.
44.2. Claim. “Claim“ is defined as any assertion, demand, controversy, dispute, cause of action, or legal right (whether in contract, tort, or otherwise) that arises or may arise, whether past, present, or future. The term “Claim“ is to be interpreted in the broadest possible sense and includes, but is not limited to, claims, disputes, or controversies arising from or related to:
Your use of Kyrrex US’s services and products;
Provisions of, changes to, or additions to the Terms or any other related agreements;
Your obligations arising from your use of Kyrrex US’s services and products;
Advertisements, promotions, or oral or written statements related to the Terms or any transactions between you and Kyrrex US pursuant to this agreement;
Disputes between you and Kyrrex US or its wholly or majority owned subsidiaries, affiliates, predecessors, successors, assigns, agents, contractors, employees, officers, directors, or representatives arising from any transaction related to the Terms of Use;
Disputes regarding the validity, enforceability, or scope of the Terms or any other related agreements;
Any aspect of the Terms of Use or its application.
44.3. Waiver of Jury Trial, Class Actions and Class Arbitrations. Both parties waive their right to pursue claims in court, including the right to participate in class actions or class arbitration. Any dispute, claim, or controversy arising out of or relating to this agreement, including its validity, interpretation, enforceability, or breach, shall be resolved through arbitration on an individual basis. The arbitrator shall have no authority to consolidate or join the claims of other parties or conduct any form of class arbitration. The arbitrator's decision shall be final and binding, and judgment on the award may be entered in any court having jurisdiction. The arbitrator's decision shall be final and binding, and judgment on the award may be entered in any court having jurisdiction thereof.
44.4. Pre-Arbitration Dispute Resolution. Kyrrex US is committed to resolving disputes in a fair and efficient manner. We believe that most concerns can be resolved satisfactorily by reaching out to our support team at https://kyrrexsupportusa.zendesk.com/hc/en-gb. If, despite these efforts, an issue remains unresolved, before initiating arbitration, the party seeking arbitration must first send a written Notice of Dispute (“Notice“) to the other party by certified mail. The Notice should be sent to the following address: 1209 Orange Street, Wilmington, Delaware 19801.
44.5. The Notice must include the following:
A clear description of the nature and basis of the Claim or dispute; and
A statement outlining the specific relief sought to resolve the matter.
44.6. Upon receipt of the Notice, both parties shall work diligently to resolve the Claim within a period of sixty (60) days. If the Claim remains unresolved after this period, either party may proceed with arbitration.
44.7. Throughout the arbitration process, any settlement offers made by either party will remain confidential and will not be disclosed to the arbitrator until after the arbitrator determines the appropriate amount, if any, to which either party is entitled. This approach ensures that the arbitrator's decision is not influenced by prior settlement offers and promotes a fair and impartial resolution.
44.8. Please note that initiating this pre-arbitration dispute resolution process is a prerequisite to commencing arbitration, and failure to comply with this procedure may result in a delay or dismissal of the arbitration claim.
44.9. We encourage you to engage in good faith efforts to resolve disputes through this pre-arbitration procedure, as we believe it offers a viable and constructive approach to reaching a resolution.
44.10. Rules and Forum. This arbitration agreement evidences that our transaction involves interstate commerce, and the interpretation, enforcement, and proceedings of this provision shall be governed by the Federal Arbitration Act, 9 U.S.C. § 1 et seq. (“FAA“). The parties intend to abide by the FAA's provisions for all aspects, including the interpretation, implementation, enforcement, and administration of this arbitration provision, and the FAA shall take precedence over any conflicting state laws to the maximum extent allowed by law. The arbitration shall be conducted under the administration of the American Arbitration Association (“AAA“) and in accordance with their Consumer Arbitration Rules (the “AAA Rules“), as currently in effect, unless otherwise modified by the provisions of this Arbitration Agreement. The AAA Rules can be accessed here.
44.11. Arbitrator Selection and Authority. In the event of any dispute subject to arbitration, the arbitration shall be conducted in accordance with the prevailing rules and procedures of a reputable arbitration organization, such as the National Arbitration and Mediation (NAM) Rules, including the Comprehensive Dispute Resolution Rules and Procedures and/or the Supplemental Rules for Mass Arbitration Filings, as applicable (“Arbitration Organization Rules“).
44.12. The arbitrator shall be chosen from the roster of consumer dispute arbitrators provided by the selected arbitration organization, such as the American Arbitration Association (“AAA“) or an attorney licensed to practice law in the State of Delaware, agreed upon by the parties. If the parties are unable to reach an agreement within thirty-five (35) business days of the arbitration request, the arbitration organization shall appoint the arbitrator in accordance with its rules, subject to the provisions under the subsection entitled “Batch Arbitration“ (if applicable).
44.13. Confidentiality. Both parties, Kyrrex US and the User, hereby agree to maintain the strict confidentiality of all materials and documents exchanged during the arbitration proceedings. Unless required by law or with the express written consent of both parties, such materials and documents shall not be disclosed to any third party, except for the parties' attorneys, accountants, or business advisors, subject to the condition that they, too, agree to keep all materials and documents exchanged during the arbitration proceedings confidential.
44.14. Attorney Fees and Costs of Arbitration. Payment of all filing, administration, and arbitrator fees (collectively, the “Arbitration Fees“) shall be governed by the rules and procedures of the American Arbitration Association (AAA), unless otherwise provided in this section. The party initiating the arbitration shall be responsible for paying the filing fee.
44.15. If you seek a waiver of the initial filing fee or any other fees incurred in arbitration, you may do so by demonstrating to the arbitrator that the costs of arbitration would be prohibitively higher than the costs of litigation. In such cases, Kyrrex US agrees to pay, to the extent deemed necessary by the arbitrator, a portion of the Arbitration Fees to prevent the arbitration from being cost-prohibitive for you when compared to the costs of litigation.
44.16. Any award of attorneys' fees incurred in connection with the arbitration shall be governed by the rules of the AAA. The allocation of attorney's fees, as well as the determination of the prevailing party, shall be made by the arbitrator and included in the final award. The prevailing party shall be entitled to recover reasonable attorney's fees and costs incurred in connection with the arbitration, in addition to any other relief granted in the arbitration.
44.17. Batch Arbitration. In the interest of efficiency and streamlined resolution, you and Kyrrex US agree that in the event of one hundred (100) or more individual requests of a substantially similar nature filed against Kyrrex US within a thirty (30) day period (or as soon as possible thereafter) by the same law firm, group of law firms, or organizations, the AAA shall facilitate the following Batch Arbitration process:
The arbitration demands shall be administered in batches, with each batch consisting of 100 Requests (plus any remaining Requests in a final batch).
One arbitrator shall be appointed for each batch to oversee the consolidated arbitration proceedings.
Each batch shall be resolved as a single consolidated arbitration, with one set of filing and administrative fees due per side per batch, one procedural calendar, and one final award.
44.18. All parties acknowledge that requests are considered of a “substantially similar nature“ when they arise from the same event or factual scenario, involve identical or similar legal issues, and seek equivalent relief. In case of disagreement regarding the applicability of the Batch Arbitration process, the parties shall notify the AAA, and the AAA shall appoint a sole standing arbitrator (the “Administrative Arbitrator“) to determine its applicability.
44.19. To expedite resolution, the parties agree that the Administrative Arbitrator may establish necessary procedures for prompt dispute resolution. The fees of the Administrative Arbitrator shall be borne by Kyrrex US.
44.20. Both parties commit to cooperate in good faith with the AAA to implement the Batch Arbitration process, including the payment of single filing and administrative fees for each batch of Requests. Additionally, both parties shall take steps to minimize the time and costs of arbitration, such as appointing a discovery special master to assist the arbitrator in resolving discovery disputes and adopting an expedited arbitration proceedings calendar.
44.21. It is expressly agreed that this Batch Arbitration provision does not authorize class, collective, mass arbitration, or joint/consolidated claims under any circumstances, except as expressly stated herein.
44.22. Modification. Kyrrex US reserves the right to modify or amend this arbitration provision, in whole or in part, at its sole discretion. Your continued use of our services or site after the effective date of any modifications to the arbitration agreement shall constitute your acceptance of the revised terms.
44.23. In the event that you do not agree to the modified arbitration provision, you have the right to reject it by discontinuing your use of our services and site. If you choose to reject the modified arbitration provision, any dispute or Claim between you and Kyrrex US shall be resolved in accordance with the arbitration provision in effect at the time the dispute or Claim arose.
44.24. It is your responsibility to review this arbitration provision periodically to stay informed of any updates or changes. The most current version of the arbitration agreement will always be available on the Kyrrex US website.
44.25. Any waiver or failure to enforce any aspect of this arbitration provision shall not be deemed a waiver of future enforcement or the right to modify or amend this provision in the future.
45. CONTACT INFORMATION
45.1. If you have any questions concerning these Terms, the Site, or any other matter, you may contact us at https://kyrrexsupportusa.zendesk.com/hc/en-gb.