TERMS OF USE AND
PUBLIC OFFER FOR CRYPTO-ASSET SERVICES
Last updated: 01.07.2026
These Terms of Use and Public Offer for the Provision of Crypto-asset Services govern the use of the OurExchangeClub Platform, User registration, identification and approval, and the creation, confirmation, execution, rejection, suspension and termination of Crypto-asset purchase and sale Transactions.
This document constitutes a public offer. By registering on the Website, selecting the relevant confirmation boxes, starting the identification process, creating a Transaction or otherwise using any OurExchangeClub services, the User is deemed to have accepted these Terms in full, unconditionally and without reservation.
If you disagree with any provision of these Terms, you must not register, create a Transaction or use OurExchangeClub services.
1. General Provisions
1.1. OurExchangeClub is a platform providing Crypto-asset purchase and sale services through which Approved Users may create Transactions to purchase or sell Crypto-assets.
1.2. The Platform operates within the framework of the legislation of the Republic of Armenia, including applicable legal acts governing Crypto-assets, anti-money laundering and countering the financing of terrorism, personal data protection, taxation, and payment and settlement relations.
1.3. OurExchangeClub provides services exclusively on the basis of Transactions created and confirmed through the Website. Expressions of interest, arrangements or information communicated through social networks, messaging applications, telephone calls or other unofficial means of communication do not constitute a Transaction unless the relevant Transaction has been created and confirmed through the Website.
1.4. The sole settlement currency for Transactions is the Armenian dram. OurExchangeClub does not settle or accept Transactions in foreign currency or make payments in foreign currency unless expressly provided otherwise in the terms published on the Website and in force in accordance with the law.
1.5. OurExchangeClub is not a bank, credit organisation, investment company, financial adviser or asset manager and does not provide personalised investment, tax, legal or financial advice.
1.6. Any information provided by OurExchangeClub concerning Crypto-assets, the market, exchange rates, fees or Transactions is informational and transactional in nature and must not be construed as an investment offer, a guarantee of returns or financial advice.
2. Definitions
The terms used in these Terms have the following meanings, unless the context requires otherwise:
2.1. Company or OurExchangeClub: UNITRADE INTERNATIONAL LLC, registered in the Republic of Armenia (registration number: 273.110.112229; taxpayer identification number: 02825175; Chief Executive Officer: Avetis Varosyan), which operates the ourexchange.club website and provides the services specified in these Terms. The Company's full legal name, state registration details, location and contact details are published on the Website.
2.2. Website or Platform: the ourexchange.club website, its subdomains, the User's personal account area, and the technical environment for creating and managing Transactions.
2.3. User: a natural or legal person who registers on the Website, undergoes the identification process, obtains the Company's approval, and creates or wishes to create a Transaction to purchase or sell Crypto-assets.
2.4. Approved User: a User whose registration, identification and verification have been completed with satisfactory results by the Company or an identification service provider engaged by the Company, and whose account has been approved by the Company's administrator.
2.5. Crypto-asset: a digital representation of value or a right that constitutes property under the legislation of the Republic of Armenia, can be transferred and stored using distributed ledger technology or equivalent technology, and is available for Transactions on the OurExchangeClub Platform.
2.6. Transaction: a transaction for the purchase or sale of a Crypto-asset created by the User through the Website and accepted by the Company, with the Armenian dram as its settlement currency.
2.7. Purchase Transaction: a Transaction in which the User purchases a Crypto-asset from the Company for Armenian drams.
2.8. Sale Transaction: a Transaction in which the User sells a Crypto-asset to the Company and receives Armenian drams in return.
2.9. Identification or KYC: the process of verifying the User's identity, legal capacity, authority to act as a representative, residency, source of funds or Crypto-assets, purpose of the Transaction and other material circumstances.
2.10. SumSub: SUMSUB TECH LTD, a company incorporated and registered in Cyprus under registration number HE 424752, with its registered address at Agiou Andreou 153, 3036, Limassol, Cyprus, which is a third-party provider of identification and verification technology services through which User identification, document verification, biometric checks or other checks may be carried out.
2.11. EASY PAY LLC: a licensed organisation (licence No. 17, issued on 04.11.2014), whose Chairman of the Management Board (Chief Executive Officer) is Mher Galstyan, whose address is 8 Adonts Street, premises 171, Yerevan, and whose telephone numbers are 011-26-10-11 and 011-24-72-47. It is a third party engaged by the Company and may, on a contractual basis, perform cash disbursement, cash collection or ancillary servicing functions to the extent permitted by law.
2.12. Payment Method: a method of making or receiving payment available on the Website at the relevant time, including bank transfer, bank card, EasyWallet, an EasyPay terminal, cash or another method, provided it is published on the Website.
2.13. Additional Documents: the User's identity, place of residence or location, legal capacity, authority to act as a representative, source of funds and income, source from which Crypto-assets were acquired or received, source of payment, ownership of a bank account or card, ownership and control of a Crypto Wallet or blockchain address, purpose and economic rationale of the Transaction, information on the beneficial owner, tax or residency status, as well as other documents, explanations, declarations and information requested by the Company for legal, compliance, risk management or security purposes.
2.14. Crypto Wallet: a software, hardware, online, mobile, custodial or non-custodial technical tool, account, application or other solution used to store, receive, transfer or manage Crypto-assets.
2.15. Crypto Wallet Address: an alphanumeric or other technical identifier used to receive or transfer a Crypto-asset on the relevant blockchain network, which the User provides to the Company or the Company provides to the User for the execution of a particular Transaction. The Crypto Wallet Address must correspond to the selected Crypto-asset and blockchain network and, where necessary, also to a memo, tag, payment ID or other additional technical information.
3. Conclusion of the Agreement and Acceptance
3.1. These Terms constitute the Company's public offer to enter into an agreement with the User for the provision of Crypto-asset services.
3.2. The User is deemed to have accepted these Terms from the moment the User performs any of the following actions on the Website:
a) creates a user account;
b) selects the relevant consent box;
c) starts or completes the identification process;
d) creates a Transaction;
e) transfers funds or a Crypto-asset;
f) otherwise uses OurExchangeClub services.
3.3. By accepting these Terms, the User confirms that the User is an adult aged 18 or over, has the requisite legal capacity and capacity to act to enter into and execute such Transactions, and has read, understood and unconditionally accepted these Terms and the documents published on the Website that apply to the relevant legal relationships and form an integral part of these Terms to the extent applicable, including:
a) the Regulatory Status and Legal Information Statement;
b) the Privacy Policy;
c) the Customer Identification (KYC), AML/CFT and Sanctions Policy;
d) the Crypto-asset Risk Disclosure Statement;
e) the Payments and Cash Operations Policy;
f) the Tariffs, Commissions and Limits Policy;
g) the Complaints and Dispute Resolution Procedure;
h) the Code of Business Ethics and Conduct;
i) the Information Security and Fraud Prevention Guide;
j) the Service Continuity and Technical Disruptions Statement;
k) the Bonus and Referral Programme Rules;
l) the Accessibility Statement;
as well as other terms, policies, rules, statements and notices published on the Website and applicable to the relevant service, Transaction or legal relationship.
3.4. These Terms are binding on the User and the Company from the moment the User performs an act of acceptance.
4. User Legal Capacity and Eligibility
4.1. OurExchangeClub services may be used only by persons who have the requisite legal capacity and capacity to act to accept these Terms and execute Transactions.
4.2. A User who is a natural person must be at least 18 years old and have full capacity to act.
4.3. A person acting on behalf of a legal person must have sufficient authority to register, accept the Terms and execute Transactions on behalf of that legal person.
4.4. The User may not use the services if:
a) the User is included on international or domestic sanctions lists;
b) the User is connected with a country, territory or regime with which Transactions are prohibited or restricted under the Company's internal risk policy;
c) the User provides false, incomplete or misleading information;
d) the User acts on behalf of a third party without prior disclosure and submission of the necessary documents;
e) the Company reasonably suspects that the Transaction is connected with money laundering, terrorist financing, fraud, corrupt activities, sanctions evasion, tax evasion or other unlawful activities.
4.5. The User must independently and at the User's own expense ensure that the use of OurExchangeClub services, the purchase, sale, storage, transfer or receipt of Crypto-assets, or any other related activity is permitted under the laws of the jurisdictions of the User's citizenship, residence, residency, location or activities, or any other jurisdiction applicable to the User. The User must review in advance and comply with all applicable legal, regulatory, tax, reporting, foreign exchange control, licensing, registration or other requirements. The Company does not provide legal or tax advice and does not guarantee that the services or particular Transactions are permitted in any specific country or jurisdiction. If the law applicable to the User imposes restrictions, prohibitions, or requirements relating to permits, licences or declarations, the User bears full responsibility for compliance with them. The User must also immediately cease using the services if, as a result of a change in the law applicable to the User or other circumstances, use of the services becomes prohibited or restricted, or requires additional permits that the User has not obtained.
4.6. If the User is outside the Republic of Armenia, is a citizen, resident or tax resident of another state, or uses the services from the territory of another state or jurisdiction, the User must independently ensure in advance that the use of OurExchangeClub services, the acquisition, sale, storage or transfer of Crypto-assets, or any other related activity is permitted under the legislation, regulatory acts, licensing requirements, tax rules, sanctions restrictions and other mandatory rules applicable to the User.
The User is solely responsible for complying with applicable legal requirements, obtaining necessary permits, completing required registrations or declarations, and assessing the lawfulness of the User's activities. The Company is not obliged to examine or assess foreign legislation applicable to the User and does not provide legal, tax or regulatory advice on those matters.
The Company does not represent, warrant or certify that the services are available, lawful, permitted or compliant with the requirements of any specific state, territory or jurisdiction. The Company is entitled, at its discretion, to restrict or prohibit access to the services for certain countries, territories, persons or groups of Users for legal, regulatory, sanctions, compliance, risk management or business purposes, without being obliged to disclose the reasons for such restrictions in detail.
If the User's use of the services results in a breach of any foreign legal requirement, administrative, civil, tax or criminal liability, a fine, a restriction or any other legal consequence, the Company is not liable for it, and the User undertakes to bear, at the User's own expense, the entire risk and responsibility for such consequences.
5. Registration and User Account
5.1. To create a Transaction, the User must register on the Website and provide the information requested by the Company.
5.2. During registration, the User must provide accurate, complete, up-to-date and genuine information concerning the User.
5.3. The User must immediately update the User's information if it changes or becomes inaccurate, or request that it be amended in accordance with the procedure established by the Company.
5.4. The User bears full and sole responsibility for the confidentiality, security and proper safekeeping of the User's account, username, password, email address, telephone number, two-factor authentication (2FA) methods, security codes, devices, SIM cards, email accounts, Crypto Wallets and any other identification or security tools used to access or manage the user account. The User must take all reasonable and necessary measures to prevent the loss, disclosure, leakage, theft or unauthorised use of the User's account, login credentials or security tools, or access to them by third parties. The Company is not liable for any damage, losses, unauthorised Transactions or data breaches arising from the User's failure to fulfil obligations to safeguard passwords, security codes or other login credentials; the loss, theft, damage, infection or hacking of devices or means of communication; phishing; social engineering; a SIM-swap attack; unauthorised access to email or communication channels; or any other circumstances within or beyond the User's control. Until the Company receives proper notice from the User of possible unauthorised use of the user account and has a reasonable opportunity to take appropriate measures, all actions, instructions, confirmations, Transactions and communications carried out through the account are deemed to have been performed personally by the User and are binding on the User.
5.5. Any action carried out through the User's account is deemed to have been performed by the User unless the User proves that the action occurred beyond the User's control and that the User took reasonable measures to prevent the damage.
5.6. The User must immediately notify the Company of any unauthorised access to, loss, theft or suspicious use of the User's account.
5.7. The Company is entitled, without the User's prior consent and to the extent permitted by law, to temporarily restrict, suspend, block or otherwise limit access to all or part of the user account, as well as the use of particular functions or services or the execution of particular Transactions, where there are justified security, compliance, legal, regulatory or risk management grounds. Such measures may apply, in particular, where there is actual or reasonably suspected unauthorised use of the account; compromise of personal data or login credentials; provision of false, incomplete or misleading information; an incomplete identification or verification process or an unsatisfactory outcome of that process; suspicious or unusual transactional activity; a possible breach of applicable legislation, sanctions, requirements for preventing money laundering and terrorist financing, or these Terms; or where the restriction is necessary to protect the rights, legitimate interests and security of the Company, the User, other Users or third parties. Where possible and permitted by law, the Company will notify the User of the restriction imposed, but the absence of such notice does not affect the lawfulness of the restriction.
6. Identification, SumSub and Administrator Approval
6.1. To use OurExchangeClub services, create or execute Transactions, or receive ongoing services, the User must undergo identification (KYC), customer due diligence (CDD) and, where necessary, enhanced due diligence (EDD), in accordance with the Company's internal policies, applicable legislation and the requirements of competent authorities. The Company is entitled to update identification information periodically and conduct repeat checks.
6.2. Identification and verification may be carried out through SumSub or another third-party technology service provider. The User agrees that such service providers may process and validate identity documents, biometric data, photographs, video recordings and other necessary information for the purposes of identity verification, fraud prevention, risk assessment and compliance with legal requirements.
6.3. The User agrees that, for identification purposes, the User's personal data, identity documents, photographs, videos, biometric or equivalent data, information on place of residence or residency, payment and financial information, and other information necessary for identification, risk assessment and compliance with legal requirements may be processed.
6.4. Successful completion of the technical identification process does not in itself result in the User's automatic approval. The User may create Transactions only once the Company's administrator has approved the User's account.
6.5. The Company is entitled to request Additional Documents or information, including:
a) an additional identity document;
b) proof of residential address;
c) proof of the source of funds;
d) proof of the source of Crypto-assets;
e) proof of ownership of a bank account or card;
f) proof of ownership or control of a Crypto Wallet Address;
g) information concerning tax residency or activities;
h) documents concerning a legal person's registration, ownership and beneficial owners;
i) a power of attorney or another document evidencing authority to act as a representative.
6.6. The User must provide the documents and information requested by the Company within a reasonable period. If the User fails to provide the requested documents or information, provides incomplete or suspicious information, or the Company cannot adequately assess the lawfulness of the Transaction, this may result in non-execution, suspension or rejection of the Transaction, or restriction of access to the services. The Company is also entitled to reject registration, withhold approval of the user account, suspend or cancel the Transaction, restrict access to the services or terminate the relationship.
6.7. The Company is not obliged to disclose to the User all internal criteria for rejection, suspension or additional checks if disclosure could violate legal requirements, impair the effectiveness of the compliance system, or violate security rules or the rights of third parties.
7. Nature of the Services
7.1. Through OurExchangeClub, the User may create the following main types of Transactions:
a) purchasing a Crypto-asset for Armenian drams;
b) selling a Crypto-asset for Armenian drams.
7.2. The Company is entitled, at its discretion, to determine which Crypto-assets are available on the Website, the networks through which they are accepted or transferred, and the applicable limits and conditions.
7.3. The Company may at any time add, remove, temporarily suspend or restrict the availability of a particular Crypto-asset or network for technical, legal, risk-related, market or security reasons.
7.4. The Company does not hold the User's Crypto-assets as a custodian unless such a service is expressly provided for in writing. Any temporary receipt of a Crypto-asset or funds by the Company in connection with a Transaction is solely for the purpose of executing that Transaction.
7.5. The Company does not in any way guarantee, and is not liable for, the value, liquidity, stability, market demand, future price, returns or other economic characteristics of any Crypto-asset. Crypto-asset prices are determined by independent market factors and may fluctuate significantly. The Company does not control or influence such fluctuations and is not liable for them, their consequences or the User's financial losses.
8. General Rules for Creating Transactions
8.1. A Transaction is created exclusively through the Website, in the User's personal account area or in the transaction environment available on the Website.
8.2. When creating a Transaction, the User selects or enters the Transaction type, Crypto-asset, amount, Payment Method, Crypto Wallet Address, network and other necessary information.
8.3. The User is responsible for the accuracy of the information entered, including the Crypto Wallet Address, network, bank details, card details, EasyWallet details and purpose of payment.
8.4. The Company may decline to accept or confirm, suspend or cancel a Transaction if:
a) the User has not been approved;
b) the User's information is incomplete or suspicious;
c) the Transaction exceeds the established limits;
d) the Transaction does not comply with the Company's internal risk policy;
e) the payment or Crypto-asset transfer has not been received within the prescribed period;
f) there are technical, market or legal impediments;
g) Additional Documents are required;
h) there is a risk of suspicious or unlawful activity.
8.5. A Transaction is deemed confirmed only from the moment it is assigned the relevant status on the Website or the Company expressly confirms acceptance of the Transaction by any means.
8.6. Creating a Transaction does not in itself mean that the Transaction has been finally executed. A Transaction may be subject to additional checks until it is fully completed.
9. Transaction Stages and Statuses
9.1. Each Transaction created on the Website may have a corresponding status reflecting its current stage, the actions to be performed by the User or the Company, and the state of its execution, correction, modification, suspension, rejection, cancellation or return.
9.2. Transaction statuses may differ depending on whether the User is purchasing or selling a Crypto-asset.
9.3. At the initial stage of a Transaction, the User creates a request and is shown the main terms of the Transaction, available payment or transfer methods, settlement details and other material terms. At this stage, the specific payment details, the Company's bank account number, blockchain address or other information necessary to execute the Transaction may not yet be available to the User.
9.4. Upon receipt of the Transaction request, the Company carries out the checks that can be performed at that time concerning identification, compliance, risk assessment, limits, the Payment Method, the purpose of the Transaction and any other necessary matters.
9.5. Before the Transaction proceeds to the next stage, the Company is entitled to approve, suspend, cancel or reject the request, or to request Additional Documents, information, explanations or corrections to information from the User.
9.6. Only after the Company approves the request may the information necessary to execute the Transaction become available to the User, including payment details, transfer instructions, a bank account number, a blockchain address, the purpose of payment, a deadline or other applicable information.
9.7. In a Purchase Transaction, the User makes a payment in Armenian drams, and the Company transfers the Crypto-asset to the Crypto Wallet Address specified by the User after receiving and verifying the payment and completing the necessary compliance checks.
9.8. In a Sale Transaction, the User transfers the Crypto-asset to the Crypto Wallet Address provided by the Company, and the Company makes a payment in Armenian drams using the method selected by the User or the approved method after receiving the Crypto-asset, obtaining blockchain confirmations and completing risk and compliance checks.
9.9. A change in the Transaction's status communicated on the Website, in the User's personal account area, by electronic message or through another official means of communication of the Company constitutes proper notice to the User of the Transaction's current state.
9.10. No Transaction status limits the Company's right to conduct additional checks, request Additional Documents, suspend, reject or cancel the Transaction, or move it to the return stage at any stage of the Transaction, where legal, technical, compliance, payment, blockchain, security or risk management grounds exist.
9.11. If a Transaction cannot be executed after the Company or the User has already received funds or a Crypto-asset, the Transaction may be moved to the return stage. The return is carried out in a manner permitted by law, technically feasible and consistent with compliance requirements, after deducting applicable costs, network fees, bank fees, and charges imposed by payment systems or third parties, if any.
9.12. A Transaction is deemed completed only when it has been assigned the status "Transaction Completed" on the Website or in the Company's official system, or the Company has otherwise expressly confirmed completion of the Transaction.
The statuses visible to the User for a Purchase Transaction are:
"Request Received", "Request Under Review", "Attention", "Documents Under Review", "Request Amended", "Request Approved", "Request Suspended", "Request Cancelled", "Request Rejected", "Awaiting Payment", "Payment Received", "Payment Under Review", "Transaction Amended", "Transfer in Progress", "Transfer Completed", "Transaction Completed", "Transaction Rejected", "Return in Progress", "Returned".
The statuses visible to the User for a Sale Transaction are:
"Request Received", "Request Under Review", "Attention", "Documents Under Review", "Request Amended", "Request Approved", "Request Suspended", "Request Cancelled", "Request Rejected", "Awaiting Transfer", "Transaction Under Review", "Transaction Amended", "Transaction in Progress", "Transaction Payment in Progress", "Transaction Paid", "Transaction Completed", "Transaction Rejected", "Return in Progress", "Returned".
10. Exchange Rates, Tariffs and Commissions
10.1. Exchange rates, tariffs, commissions and other fees published or calculated on the Website or displayed during a Transaction are set by the Company and may differ from the figures published by the Central Bank of the Republic of Armenia, international or domestic Crypto-asset exchanges, exchange platforms, payment systems or other sources of market data.
10.2. The exchange rate displayed by OurExchangeClub may reflect the effects of market value, liquidity, Transaction volume, the type of Crypto-asset, the blockchain network, the Payment Method, risk, operating costs, the service fee, the Company's income and other material factors.
10.3. The final settlement terms of a Transaction apply only to that Transaction and only from the moment it has been duly created, checked and confirmed in accordance with the Website's procedure.
10.4. The exchange rate, tariff or calculation displayed to the User when a Transaction is created may be valid for a limited period. If the User fails to perform the required action within the prescribed period, including making a payment or transferring a Crypto-asset, the Company is entitled to cancel that calculation, amend the terms or offer a new exchange rate.
10.5. Additional fees may apply in connection with a Transaction, including bank fees, card fees, payment and settlement system fees, terminal fees, cash servicing fees, blockchain network fees, partner organisation charges or other costs.
10.6. Unless expressly stated otherwise on the Website or during the Transaction, fees charged by third parties, banks, payment systems, blockchain networks or partner organisations may reduce the amount of money or Crypto-assets receivable by the User or may be payable by the User in addition.
10.7. The Company is entitled at any time to change tariffs, commissions, limits, the principles used to calculate exchange rates, and applicable fees by publishing the relevant information on the Website or displaying it to the User at the relevant stage of the Transaction.
10.8. Before confirming a Transaction, the User must carefully review the exchange rate displayed, the amount payable or receivable, the amount of Crypto-assets, potential fees, deadlines and other material terms of the Transaction.
10.9. By continuing or confirming a Transaction, making a payment or transferring a Crypto-asset, the User is deemed to have accepted the Transaction terms displayed on the Website at that time.
10.10. The Company is not liable for any damage or losses that may arise from changes in market prices, high Crypto-asset volatility, differences in exchange prices, changes in blockchain network fees or changes in market conditions during the execution of a Transaction, provided that the Company has acted in accordance with these Terms and the Transaction procedure established on the Website.
11. Procedure for the User's Purchase of Crypto-assets
11.1. To purchase a Crypto-asset, the User creates a Purchase Transaction request on the Website by selecting or entering the information necessary for the Transaction, including the Crypto-asset to be purchased, the Transaction amount in Armenian drams, the preferred Payment Method, the Crypto Wallet Address for receipt of the Crypto-asset, the relevant blockchain network and other information required on the Website.
11.2. When creating a Purchase Transaction request, the User is shown the main terms of the Transaction, available Payment Methods, settlement details, the applicable exchange rate, potential fees, time limits and other material terms. At this stage, the Company's bank account number, specific payment details or other information necessary to execute the Transaction may not yet be available to the User.
11.3. Upon receipt of a Purchase Transaction request, the Company carries out the necessary checks relating to the User, the Transaction, the Payment Method, limits, risks and compliance. The Company is entitled to approve, reject, suspend, cancel or amend the request, or to request Additional Documents, explanations or corrections to information from the User.
11.4. Only after the Company approves the Purchase Transaction request may specific payment details become available to the User, including a bank account number, card or payment system details, EasyWallet or EasyPay payment instructions, cash payment instructions, the purpose of payment, the payment deadline or other necessary information.
11.5. The User must make payment exclusively using the details, terms and method, and within the period, specified on the Website. A payment made by the User to a different account, with a different purpose of payment, in an incorrect amount, by an incorrect method or after the prescribed deadline may result in the Transaction being delayed, subject to additional checks, cancelled, rejected or returned.
11.6. For a Purchase Transaction, the User may make payment using one of the methods available on the Website at that time, including a bank account, bank card, EasyWallet, an EasyPay terminal or cash, provided that the method is available, permitted and approved by the Company for that Transaction.
11.7. A cash payment, where available for the Transaction, may be made through a partner organisation engaged by the Company, to the extent permitted by law and in accordance with the procedure established by the Company.
11.8. The User's making a payment does not in itself mean that the Transaction has been finally executed. The payment is subject to receipt, identification, verification and compliance assessment by the Company.
11.9. The Company transfers the Crypto-asset only after confirming that the User's payment has actually been received, that the payment complies with the terms of the Transaction, that the necessary compliance and risk checks have been completed, and that there are no legal, technical, payment, security or other grounds preventing execution of the Transaction.
11.10. The Crypto-asset is transferred to the Crypto Wallet Address specified by the User and through the selected blockchain network. The User bears full responsibility for the accuracy of the Crypto Wallet Address, blockchain network, memo/tag/payment ID, where applicable, and other technical details for receipt.
11.11. If the User provides an incorrect Crypto Wallet Address, blockchain network, memo/tag/payment ID or other technical details, the Crypto-asset transfer may be delayed or may fail, or the Crypto-asset may be irretrievably lost. In such cases, the Company is not liable for damage or losses resulting from the User's incorrect or incomplete information.
11.12. The Crypto-asset transfer is deemed to have been executed by the Company from the moment the Company submits the Transaction to the relevant blockchain network using the Crypto Wallet Address provided by the User, or it is assigned the relevant status specified on the Website, unless the terms of that Transaction expressly provide otherwise.
11.13. Delays arising from blockchain network congestion, changes in network fees, delayed confirmations, technical failures, or failures of Crypto Wallet services or third-party systems do not constitute a breach of the Company's obligations, provided that the Company acted in good faith and executed the Transaction on the basis of the information supplied by the User.
11.14. If the User fails to make payment within the prescribed period, makes an incomplete payment, makes payment on behalf of a third party or by a method that does not meet the Company's requirements, or fails to provide the requested Additional Documents, the Company is entitled to cancel, suspend or reject the Transaction and, where necessary, return the funds received in a manner permitted by law, technically feasible and consistent with compliance requirements.
11.15. A Purchase Transaction is deemed completed only when it has been assigned the status "Transaction Completed" on the Website or in the Company's official system, or the Company has otherwise expressly confirmed completion of the Transaction.
12. Procedure for the User's Sale of Crypto-assets
12.1. To sell a Crypto-asset, the User creates a Sale Transaction request on the Website by selecting or entering the information necessary for the Transaction, including the Crypto-asset to be sold, the Transaction amount, the relevant blockchain network, the preferred method of receiving Armenian drams and other information required on the Website.
12.2. When creating a Sale Transaction request, the User is shown the main terms of the Transaction, available transfer and payment receipt methods, settlement details, the applicable exchange rate, potential fees, time limits and other material terms. At this stage, the Company's Crypto Wallet Address or other specific information necessary to execute the Transaction may not yet be available to the User.
12.3. Upon receipt of a Sale Transaction request, the Company carries out the necessary checks relating to the User, the Transaction, the selected blockchain network, the method of receiving Armenian drams, limits, risks and compliance. The Company is entitled to approve, reject, suspend, cancel or amend the request, or to request Additional Documents, explanations or corrections to information from the User.
12.4. Only after the Company approves the Sale Transaction request may the information necessary to execute the Transaction become available to the User, including the Company's Crypto Wallet Address, the relevant blockchain network, a memo/tag/payment ID or other additional technical information where necessary, the transfer deadline and other applicable information.
12.5. The User must transfer the Crypto-asset exclusively to the Crypto Wallet Address specified on the Website, through the correct blockchain network, in the correct amount and within the prescribed period. A transfer made by the User to an incorrect Crypto Wallet Address, through an incorrect blockchain network, in an incorrect amount, with an incorrect memo/tag/payment ID or after the prescribed deadline may result in the Transaction being delayed, subject to additional checks, cancelled or rejected, or in the irreversible loss of the Crypto-asset.
12.6. The User's transfer of a Crypto-asset does not in itself mean that the Transaction has been finally executed or that the Company is obliged to make immediate payment in Armenian drams. The Crypto-asset is subject to receipt, blockchain confirmations, technical verification, risk assessment and compliance checks by the Company.
12.7. The Company is entitled to require the necessary number of blockchain confirmations before the Crypto-asset is deemed actually received and acceptable for execution of the Transaction.
12.8. The Company is entitled to check the source of the Crypto-asset received, the Transaction history, the risk associated with the Crypto Wallet Address, blockchain analysis results, sanctions or other risks, and to request Additional Documents, explanations or information from the User.
12.9. If, in the Company's assessment, the Crypto-asset received, its source, transfer route, associated Crypto Wallet Addresses or other circumstances of the Transaction give rise to legal, compliance, sanctions, money laundering and terrorist financing prevention, fraud, security or other risks, the Company is entitled to suspend, reject or cancel the Transaction, request Additional Documents, or move the Transaction to the return stage where permitted by law and technically feasible.
12.10. The Company makes payment in Armenian drams only after confirming that the Crypto-asset has actually been received at the Crypto Wallet Address provided by the Company, that the necessary blockchain confirmations have been obtained, that compliance and risk checks have been completed, and that there are no legal, technical, payment, security or other grounds preventing execution of the Transaction.
12.11. For a Sale Transaction, the User may receive Armenian drams using one of the methods available on the Website at that time, including into a bank account, onto a bank card, into EasyWallet or in cash, provided that the method is available, permitted and approved by the Company for that Transaction.
12.12. A cash payment, where available for the Transaction, may be made through a partner organisation engaged by the Company, to the extent permitted by law and in accordance with the procedure established by the Company.
12.13. The User must provide accurate details belonging to the User for receiving Armenian drams. Payment to a third party's bank account, card, wallet or other payment instrument may be rejected, suspended or subject to additional checks if it has not been approved in advance by the Company and does not meet the Company's requirements.
12.14. Delays or costs arising from technical failures, delays, restrictions or charges of banks, payment systems, EasyWallet, cash servicing partners or other third parties do not constitute a breach of the Company's obligations, provided that the Company acted in good faith and executed the Transaction in accordance with these Terms.
12.15. If the User fails to transfer the Crypto-asset within the prescribed period, transfers an incomplete amount, transfers an incorrect Crypto-asset, uses an incorrect blockchain network or incorrect technical details, or fails to provide the requested Additional Documents, the Company is entitled to cancel, suspend or reject the Transaction and, where necessary, return the Crypto-asset received in a manner permitted by law, technically feasible and consistent with compliance requirements.
12.16. A Sale Transaction is deemed completed only when it has been assigned the status "Transaction Completed" on the Website or in the Company's official system, or the Company has otherwise expressly confirmed completion of the Transaction.
13. Cash Operations and the Partner Organisation
13.1. The receipt, collection or disbursement of cash, or related ancillary activities, in connection with the services provided by the Company may be carried out through a partner organisation engaged by the Company, to the extent permitted by law and in accordance with the procedure established by the Company.
13.2. The availability of a cash operation for each Transaction is determined by the Company, taking into account the Transaction type and amount, the User's risk profile, identification results, applicable limits, the availability of the partner organisation, and legal and compliance requirements.
13.3. A cash operation may be carried out only if it is available on the Website for the relevant Transaction, has been approved by the Company, and does not conflict with applicable legislation, limits, requirements for preventing money laundering and terrorist financing, sanctions restrictions or the Company's internal policies.
13.4. When carrying out a cash operation, the User must present an identity document and, where necessary, sign or confirm documents, receipts, records or electronic confirmations evidencing the payment, receipt, handover or acceptance of cash, or the material terms of the Transaction.
13.5. The fact that a cash operation has taken place may be documented by a receipt, a record, an electronic entry, a signature, a video recording, a report from the partner organisation, a payment document or other evidence permitted by law.
13.6. The partner organisation may carry out only those activities permitted by legislation, the agreement between the Company and the partner organisation, and the confirmed terms of the relevant Transaction.
13.7. Carrying out a cash operation through a partner organisation does not release the User from the obligations imposed by these Terms, the Website's procedures and applicable legislation, including obligations relating to identification, the provision of Additional Documents, explanation of the purpose of the Transaction, and substantiation of the source of funds or Crypto-assets.
13.8. The Company is entitled to reject, suspend or cancel a cash operation if the User fails to provide the necessary documents, refuses to sign or confirm the necessary documents, the Transaction exceeds the established limits, legal, compliance, security, money laundering and terrorist financing prevention, sanctions or other risks exist, or the cash operation is unavailable at that time.
13.9. The availability of a cash operation does not mean that the User is entitled to demand cash services for any amount, at any location, at any time or on any terms. The Company is entitled to determine the locations, hours, limits, prior approval procedure and other conditions for cash operations.
13.10. Delays arising from the partner organisation's technical, operational, timing or other restrictions relating to cash operations do not constitute a breach of the Company's obligations, provided that the Company acted in good faith and within the limits permitted by law.
13.11. If a cash operation cannot be carried out for legal, technical, compliance or security reasons, or because of the availability of the partner organisation, the Company may offer another available method of making or receiving payment, suspend or cancel the Transaction, or move it to the return stage in accordance with these Terms.
13.12. The User agrees that the information necessary to carry out cash operations may be transferred to the partner organisation to the extent necessary for executing the operation, identification, record-keeping, security, compliance and evidentiary purposes.
14. Additional Documents and Transaction Verification
14.1. The Company is entitled to request Additional Documents, information, explanations, declarations or corrections to information from the User during User registration, identification, review of a Transaction request, execution of a Transaction, post-Transaction monitoring or any other necessary stage.
14.2. Additional Documents or information may be requested, in particular, to verify the User's identity, place of residence or location, legal capacity, authority to act as a representative, source of funds and income, source from which Crypto-assets were acquired or received, purpose and economic rationale of the Transaction, source of payment, ownership of a bank account, card, EasyWallet or Crypto Wallet Address, beneficial owner, tax or residency status, and other material circumstances.
14.3. The Company is entitled to determine the type and extent of the documents and information required, the form of submission and the deadline, taking into account the User's risk profile, the Transaction amount, the selected payment or transfer method, the type of Crypto-asset, the blockchain network, the Transaction history, legal requirements and the Company's internal policies.
14.4. The User must provide the requested documents, information, explanations or corrections to information within the period specified by the Company, in an accurate, complete, legible and reliable form.
14.5. If the User fails to provide the requested documents or information, or provides information that is incomplete, illegible, false, contradictory, misleading or, in the Company's assessment, insufficient, the Company is entitled to withhold approval of the request, suspend, cancel or reject the Transaction, restrict access to the user account or services, move the Transaction to the return stage or terminate the relationship with the User.
14.6. The Company is entitled to verify the authenticity, conformity and completeness of the documents and information submitted by the User using its own internal resources, third-party services, identification systems, bank or payment data, blockchain analysis tools, open sources, government or private registers, and other means permitted by law.
14.7. When verifying a Transaction, the Company may examine the Transaction amount, the Payment Method, the payer's or recipient's details, the source of the Crypto-asset, the risk associated with the Crypto Wallet Address, the blockchain transfer history, the User's previous Transactions, unusual or suspicious behaviour, sanctions risks, requirements for preventing money laundering and terrorist financing, and other legal, technical, operational or risk-related circumstances.
14.8. While a Transaction is being verified or Additional Documents have been requested, the Company may temporarily suspend the Transaction, withhold payment or transfer details, refrain from transferring the Crypto-asset or Armenian drams, or restrict further progress of the Transaction until the necessary checks have been completed.
14.9. Requesting Additional Documents, verifying a Transaction or temporarily suspending a Transaction does not constitute a breach of the Company's obligations if those actions are taken for legal, compliance, security, risk management, payment, blockchain or evidentiary purposes.
14.10. The Company is not obliged to disclose to the User the full methodology of its checks, internal risk criteria, monitoring tools or the assessment results of partners or third parties if disclosure could harm the Company's security, compliance or risk management system, or violate legal requirements or the rights of third parties.
14.11. The User's submission of Additional Documents or information does not guarantee confirmation or execution of the Transaction. The Company retains the right to confirm, reject, suspend or cancel the Transaction, or move it to the return stage, based on the results of the checks.
14.12. The Company is entitled to retain the documents, information, explanations, communications and verification results received for the periods prescribed by law or for as long as necessary for legal, accounting, tax, compliance, security, dispute resolution and evidentiary purposes.
15. Transaction Rejection, Suspension, Cancellation and Return
15.1. The Company is entitled at any stage of a Transaction to reject, suspend or cancel the Transaction, or move it to the return stage, where grounds provided for in these Terms, the policies published on the Website, the Company's internal procedures or applicable legislation exist.
15.2. A Transaction may be suspended, rejected or cancelled, in particular, if:
a) the User has not undergone or duly completed identification;
b) the User has not submitted the requested Additional Documents, information or explanations;
c) the information submitted by the User is false, incomplete, contradictory, illegible, misleading or insufficient;
d) the Transaction exceeds the established limits or does not comply with the Company's risk policy;
e) the payment or Crypto-asset transfer has not been made within the prescribed period, or has been made using incorrect details, in an incorrect amount or by an incorrect method;
f) the payment or Crypto-asset transfer has been made by or for the benefit of a third party without the Company's prior approval;
g) money laundering and terrorist financing prevention, sanctions, fraud, corruption, tax, legal, security or other risks exist;
h) execution of the Transaction may conflict with the legislation of the Republic of Armenia, the requirements of another jurisdiction applicable to the User, a requirement of a competent authority or the Company's internal policies;
i) there are technical failures, restrictions in banking or payment systems, blockchain network problems, or failures of Crypto Wallet or third-party services;
j) execution of the Transaction is currently impossible, unreasonable, highly risky or, in the Company's assessment, unacceptable.
15.3. Suspension of a Transaction is a temporary measure and may apply until the necessary checks, review of Additional Documents, clarification of technical or payment issues, and legal or compliance assessment have been completed.
15.4. A Transaction may be cancelled where it cannot proceed because of the User's action or inaction, failure to meet deadlines, incorrect information, technical impossibility or other grounds unrelated to risk.
15.5. A Transaction may be rejected where, in the Company's assessment, legal, compliance, money laundering and terrorist financing prevention, sanctions, fraud, security or other material risks exist.
15.6. If a Transaction is suspended, cancelled or rejected at a stage when the Company has already received the User's funds or Crypto-asset, the Transaction may be moved to the return stage if the return is permitted by law, technically feasible and consistent with compliance requirements and the requirements of competent authorities.
15.7. A return may be made using the same method by which the funds or Crypto-asset were received, or another method approved by the Company, taking into account legal, technical, payment, blockchain, security and compliance restrictions.
15.8. Applicable bank fees, payment system fees, blockchain network fees, partner organisation charges, cash servicing costs, third-party charges and other actual costs associated with executing the Transaction or making the return may be deducted from the money or Crypto-asset to be returned, provided that this does not conflict with applicable legislation.
15.9. If a return is impossible because of an incorrect Crypto Wallet Address, an incorrect blockchain network, an incorrect memo/tag/payment ID, technical impossibility, or sanctions, legal, compliance or security reasons, the Company is not liable for the inability to make the return or for its delay, provided that it acted in good faith and within the framework of these Terms.
15.10. The Company is not obliged to disclose to the User all internal reasons for rejecting, suspending or returning a Transaction if disclosure could violate legal requirements or security rules, impair the effectiveness of the compliance system, or violate the instructions of a competent authority or the rights of third parties.
15.11. Suspending, cancelling or rejecting a Transaction, or moving it to the return stage, does not constitute a breach of the Company's obligations if the action was taken to implement these Terms or the Website's procedures, to meet legal requirements, or for security, compliance or risk management purposes.
15.12. A Transaction is deemed returned only when it has been assigned the status "Returned" on the Website or in the Company's official system, or the Company has otherwise expressly confirmed completion of the return.
16. User Representations and Warranties
16.1. By accepting these Terms, registering on the Website, undergoing identification, creating a Transaction request or using OurExchangeClub services, the User represents and warrants that all data, documents, explanations and information provided are accurate, complete, up to date and genuine.
16.2. The User represents and warrants that the User has the legal capacity and capacity to act necessary to accept these Terms, register on the Website, create Transactions and assume the corresponding obligations, and, where acting on behalf of a legal person or another person, has the requisite authority.
16.3. The User represents and warrants that the User acts in the User's own name, for the User's own account and in the User's own interests, unless otherwise expressly disclosed, documented and accepted by the Company in advance.
16.4. The User represents and warrants that the funds, Crypto-assets and other assets used by the User have a lawful origin that can be substantiated by documents.
16.5. The User represents and warrants that the User does not and will not use OurExchangeClub services for money laundering, terrorist financing, sanctions evasion, fraud, corrupt activities, tax evasion, the legalisation of unlawful proceeds, trade in unlawful goods or services, or any other unlawful purpose.
16.6. The User represents and warrants that the User is not included on international, foreign or domestic sanctions lists, does not act on behalf of or for the benefit of persons included on such lists, and that the beneficial owner of the Transaction is not a person subject to sanctions.
16.7. The User represents and warrants that the bank account, bank card, EasyWallet, Crypto Wallet, Crypto Wallet Address or other payment or receipt instrument provided by the User belongs to the User or is duly controlled by the User, unless otherwise disclosed and accepted by the Company in advance.
16.8. The User represents and warrants that the User independently decides whether to purchase or sell a Crypto-asset, understands the market, technical, legal, tax and operational risks of Crypto-assets, and does not treat any information provided by the Company as investment, financial, legal or tax advice.
16.9. The User represents and warrants that no law, contractual obligation, judicial act, decision of a public authority or other restriction applicable to the User prohibits or restricts the use of OurExchangeClub services or the execution of the relevant Transaction.
16.10. The User must immediately inform the Company if any representation or warranty in this Section becomes inaccurate, changes or ceases to reflect the actual circumstances.
16.11. A breach by the User of the representations or warranties in this Section may constitute grounds for restricting the user account, suspending, cancelling or rejecting a Transaction, moving it to the return stage, terminating the services, as well as claiming compensation for damage, costs, fines, claims or losses incurred by the Company.
16.12. The User undertakes to compensate the Company for damage, losses, costs, fines, legal or administrative expenses, and third-party claims arising from the User's provision of false, incomplete or misleading information, use of unlawful funds or Crypto-assets, infringement of third-party rights, or breach of these Terms.
17. Acceptance of Crypto-asset Risks
17.1. The User confirms that the User understands and accepts that Crypto-assets are high-risk, highly volatile and technically complex digital assets whose value may increase or decrease significantly within a short period.
17.2. The Company does not guarantee the value, future price, liquidity, stability, returns, market demand or retention of value of any Crypto-asset.
17.3. The User acknowledges that Crypto-asset prices may differ across exchanges, exchange platforms, markets and data sources, and that the exchange rate applied by OurExchangeClub may differ from the prices or exchange rates published by those sources.
17.4. The User understands that transfers through blockchain networks are generally irreversible. Transfers made using an incorrect Crypto Wallet Address, an incorrect blockchain network, an incorrect memo/tag/payment ID or other incorrect technical details may result in the irreversible loss of the Crypto-asset.
17.5. The User bears full responsibility for the accuracy of the Crypto Wallet Address, blockchain network, memo/tag/payment ID and other technical details provided by the User.
17.6. Blockchain networks may be subject to congestion, delays, high network fees, technical failures, delayed confirmations, updates, network splits, errors or other technical and operational risks.
17.7. Transfers or receipts of Crypto-assets may involve third-party risks, including failures of Crypto Wallet services, exchanges, payment systems, banks, internet connections, devices, software or other technical services.
17.8. The User understands that legal, tax, regulatory and reporting requirements concerning Crypto-assets may change, and that such changes may affect the User's rights, obligations, ability to execute Transactions, tax liabilities or use of Crypto-assets.
17.9. The User must independently assess the advisability, risks and consequences of purchasing or selling a Crypto-asset and, where necessary, obtain independent legal, tax, financial or technical advice.
17.10. No information provided by the Company on the Website, in communications or during a Transaction constitutes investment, financial, legal, tax or other professional advice or may be treated as a recommendation to purchase, sell or hold a Crypto-asset.
17.11. The User accepts that the User alone bears all market, technical, legal, tax and operational risks associated with Crypto-assets to the extent that they are not caused intentionally by the Company or by a culpable act of the Company proven in accordance with law.
17.12. By accepting these Terms and creating a Transaction, the User confirms that the User has read, understood and accepts the risks associated with Crypto-assets and is prepared to bear their potential consequences.
18. Taxes and Reporting
18.1. The User is solely and fully responsible for assessing, calculating, declaring and fulfilling the User's tax, reporting, declaration and other public-law obligations in connection with Transactions executed or contemplated through OurExchangeClub.
18.2. The Company does not act as the User's tax adviser and does not provide personalised tax, accounting, legal or financial advice concerning the tax consequences of the User's Transactions.
18.3. The User must independently ascertain and comply with applicable tax and reporting requirements, taking into account the User's citizenship, residency, tax residency, place of residence or location, the nature and amount of the Transaction, and other material circumstances.
18.4. If the User is outside the Republic of Armenia, is a citizen, resident or tax resident of another state, or uses the services from another jurisdiction, the User is independently responsible for complying with applicable foreign tax, reporting, foreign exchange, financial or other legal requirements.
18.5. The Company does not guarantee that the User's Transaction will not give rise to tax liabilities, reporting requirements, declaration obligations or other legal consequences in the Republic of Armenia or any other jurisdiction.
18.6. The User agrees that the Company may retain information concerning the User's Transactions, payments, Crypto-asset transfers, blockchain hashes, identification, documents, communications and other relevant data for accounting, tax, legal, compliance, security, dispute resolution and evidentiary purposes.
18.7. In cases provided for by law or pursuant to a lawful request from competent public authorities, the Company is entitled to provide information concerning the User, the User's Transactions, payments, Crypto-asset transfers, identification data and documents without the User's additional consent, where such disclosure is required by applicable legislation.
18.8. The Company may request additional information or documents from the User to meet tax, accounting, compliance or legal requirements, including information relating to tax residency, the source of funds, the purpose of the Transaction or reporting obligations.
18.9. The User's failure to fulfil, improper fulfilment or late fulfilment of tax or reporting obligations cannot constitute grounds for a claim against the Company, provided that the Company acted within the framework of these Terms and applicable legislation.
18.10. The User undertakes to compensate the Company for damage, costs, penalties, fines or claims that may arise from the User's breach of tax, reporting or other public-law obligations, provision of false or incomplete information, or failure to comply with the requirements of competent authorities.
19. Personal Data and Privacy
19.1. The collection, processing, storage, use, transfer and protection of the User's personal data are carried out in accordance with these Terms, the Personal Data Processing and Privacy Policy published on the Website, and the requirements of applicable legislation.
19.2. To use OurExchangeClub services, register on the Website, undergo identification, create a Transaction request or execute a Transaction, the User may provide the Company with personal, identification, contact, financial, payment, technical, transactional and other data.
19.3. The Company may process the User's personal data for the following purposes: User registration and identification; creating and executing Transactions; making payments and transfers; risk assessment; compliance with requirements for preventing money laundering and terrorist financing; sanctions screening; fraud prevention; ensuring security; accounting and tax record-keeping; fulfilling legal obligations; dispute resolution; and protecting the Company's legitimate interests.
19.4. The User agrees that the User's personal data may be transferred or made accessible to third parties engaged by the Company, including identification service providers, SumSub, payment service providers, banks, partner organisations, technical suppliers, legal and accounting advisers and auditors, as well as to competent public authorities, to the extent necessary for providing services, executing Transactions, identification, compliance, security, record-keeping or fulfilling legal obligations.
19.5. The Company may process and retain copies of the User's identity documents, photographs, video recordings, biometric or equivalent verification data, IP addresses, device data, login history, Transaction history, payment data, Crypto-asset transfer data, blockchain hashes, communications and other necessary information.
19.6. The User confirms that the personal data provided to the Company are accurate, complete and up to date, and undertakes to inform the Company immediately of any changes or inaccuracies.
19.7. The Company takes reasonable technical, organisational and administrative measures to protect the User's personal data against unauthorised access, loss, alteration, disclosure or unlawful processing.
19.8. Despite the measures taken, the User accepts that the use of the internet, blockchain networks, payment systems, technical services and third-party systems may involve certain security risks, and that the Company cannot guarantee the absolute security of those systems.
19.9. The Company is entitled to retain the User's personal data, documents, Transaction data and communication data for as long as necessary for the provision of services and for legal, accounting, tax, compliance, security, dispute resolution and evidentiary purposes, and for the periods prescribed by law.
19.10. The User agrees that, in cases provided for by law or pursuant to a lawful request from competent public authorities, the Company may provide the User's data, documents and Transaction information without the User's additional consent or prior notice, where such disclosure is mandatory under applicable legal requirements.
19.11. The User must ensure the confidentiality and security of the User's account, passwords, email, telephone number, two-factor authentication methods, devices and other login or security data.
19.12. The Company is not liable for unauthorised access, Transactions, data breaches or damage arising from the User's failure to properly safeguard login credentials, devices, email, telephone number or security tools, unless they were caused intentionally by the Company or by a culpable act of the Company proven in accordance with law.
19.13. If the User suspects unauthorised use, loss or leakage of the User's account, personal data, passwords, devices, or payment or Crypto Wallet details, the User must immediately inform the Company.
19.14. More detailed terms for processing personal data, the User's rights, the grounds for data processing, and the rules for transferring and retaining data are set out in the Personal Data Processing and Privacy Policy published on the Website, which forms an integral part of these Terms.
20. Platform Availability and Technical Disruptions
20.1. The Company seeks to ensure the normal, secure and stable operation of the Website, user accounts, the transaction environment and the services, but does not guarantee that the Website or services will always be available without interruptions, errors, delays or technical problems.
20.2. The availability of the Website, user accounts, Transaction creation, payments, Crypto-asset transfers, identification or other functions may be temporarily restricted, interrupted or discontinued because of maintenance, updates, security measures, system overload, software or hardware failures, cybersecurity incidents, internet connection problems, failures of third-party services or other reasons.
20.3. The Company is entitled, without the User's prior consent, to temporarily discontinue, restrict or modify the operation of the Website or particular services where necessary for maintenance, security, system updates, risk management, compliance with legal requirements, or protection of the legitimate interests of Users and the Company.
20.4. The Company is not liable for delays, damage, losses, or non-execution, partial execution or late execution of a Transaction arising from failures, restrictions or unavailability of third-party systems, services or infrastructure, including as a result of acts or omissions of banks, payment systems, the ArCa system, EasyPay, EasyWallet, SumSub, internet service providers, hosting providers, communications operators, blockchain networks, Crypto Wallet services or other technical suppliers.
20.5. Blockchain network congestion, delayed confirmations, changes in network fees, technical failures of a blockchain network, a network split, unavailability of a Crypto Wallet service or technical delays in a transfer do not constitute a breach of the Company's obligations, provided that the Company acted in good faith and executed or attempted to execute the Transaction on the basis of the information provided by the User.
20.6. Failures, delays, rejections, restrictions or technical problems affecting payment or banking systems, card transactions, bank transfers, EasyWallet, EasyPay terminals, the partner organisation providing cash services or other payment infrastructure do not constitute a breach of the Company's obligations if they result from circumstances beyond the Company's direct control.
20.7. In the event of a technical failure, unavailability of a third-party service or a security risk, the Company is entitled to temporarily suspend or postpone the Transaction, cancel it, subject it to additional checks or move it to the return stage, taking into account the Transaction's state, the User's interests, legal requirements, compliance requirements and technical capabilities.
20.8. If an exchange rate, calculation, tariff, payment detail or other Transaction term displayed to the User has been shown incorrectly because of a technical failure or unavailability of a third-party service, the Company is entitled to withhold confirmation of the Transaction, cancel it, correct the error or offer new Transaction terms.
20.9. The Company may carry out scheduled or unscheduled technical work, during which certain functions of the Website or services may be unavailable or restricted. Where possible, the Company may inform Users of such work, but the absence of such notice does not restrict the Company's right to carry out necessary technical or security measures.
20.10. The User must independently ensure the proper operation and security of the User's devices, internet connection, software, Crypto Wallet, email, telephone number, security tools and payment instruments.
20.11. The Company is not liable for damage arising from failures, loss, infection, unauthorised use or unavailability of the User's devices, internet connection, browser, operating system, Crypto Wallet application, email, telephone number, SIM card, payment instrument or other personal technical tools.
20.12. The provisions of this Section do not restrict any rights of the User that cannot be restricted by law; however, the Company's liability cannot extend to failures, delays or restrictions arising from circumstances beyond the Company's direct control.
21. Limitation of Liability
21.1. The Company is liable only for direct and actual damage caused intentionally by the Company or resulting from a culpable act or omission of the Company proven in accordance with law, within the scope established by these Terms and applicable legislation.
21.2. The Company is not liable for damage, losses, costs, lost profits, loss of income, loss of market opportunity, damage to business reputation or other indirect, consequential, incidental or special damage, or damage arising through an intermediate cause, suffered by the User as a result of using or not using the services, or the delay, non-execution, suspension, cancellation, rejection or return of a Transaction, unless such damage was caused intentionally by the Company or by a culpable act of the Company proven in accordance with law.
21.3. The Company is not liable for damage or losses suffered by the User as a result of changes in the market prices of Crypto-assets, differences in exchange rates, reduced Crypto-asset liquidity, changes in blockchain network fees, market volatility or changes in external market conditions.
21.4. The Company is not liable for damage arising from the User's provision of incorrect, incomplete or inaccurate information, including an incorrect Crypto Wallet Address, blockchain network, memo/tag/payment ID, bank account, card, EasyWallet details, purpose of payment or other technical or payment details.
21.5. The Company is not liable for damage arising from acts, omissions, failures, delays, restrictions, rejections or charges of blockchain networks, banks, payment systems, ArCa, EasyPay, EasyWallet, SumSub, partner organisations, internet service providers, hosting providers, Crypto Wallet services, exchanges or other third parties.
21.6. The Company is not liable for damage arising from the loss, unauthorised use, leakage, theft or hacking of the User's account, passwords, email, telephone number, two-factor authentication methods, devices, SIM card, Crypto Wallet, payment instruments or other access or security tools, or from phishing, social engineering or similar incidents, unless such damage was caused intentionally by the Company or by a culpable act of the Company proven in accordance with law.
21.7. The Company is not liable for suspending, cancelling, rejecting or delaying a Transaction, or moving it to the return stage, if the action was taken pursuant to these Terms, the policies published on the Website, applicable legislation or a requirement of a competent authority, or for security, compliance, money laundering and terrorist financing prevention, sanctions risk management or other lawful purposes.
21.8. The Company is not liable for damage, penalties, fines or other legal consequences arising from the User's failure to fulfil, improper fulfilment or late fulfilment of tax, reporting, declaration, licensing, permit-related or other public-law obligations.
21.9. Information, calculations, exchange rates, instructions, notices or other data provided by the Company do not constitute investment, financial, legal, tax or other professional advice, and the Company is not liable for the consequences of decisions made by the User on their basis.
21.10. Where a limitation of liability is permitted by law, the Company's total liability in respect of a particular Transaction may not exceed the amount of the service fee actually received by the Company for that Transaction, except where such a limitation is prohibited by applicable legislation.
21.11. Nothing in this Section limits any liability that cannot be limited or excluded under applicable legislation.
21.12. The User confirms that the limitations of liability set out in these Terms are reasonable, taking into account the high risks associated with Crypto-assets, the irreversibility of blockchain transfers, market volatility, the involvement of third-party services and the nature of the services.
22. User Account Restrictions and Termination of the Agreement
22.1. The User may stop using OurExchangeClub services at any time by ceasing to use the Website or by submitting a request to the Company to close the user account or terminate the services in accordance with the procedure established by the Company.
22.2. The Company is entitled to temporarily or permanently restrict, suspend, block or terminate access to the User's account, particular functions, Transactions or services where grounds provided for in these Terms, the policies published on the Website, the Company's internal procedures or applicable legislation exist.
22.3. The user account or access to the services may be restricted, suspended or terminated, in particular, if:
a) the User has breached these Terms or the policies published on the Website;
b) the User has not undergone, completed or updated identification;
c) the User has not submitted the requested Additional Documents, information or explanations;
d) the information submitted by the User is false, incomplete, contradictory, misleading or insufficient;
e) there are risks of unauthorised use of the account, a security breach, fraud, phishing, social engineering or other suspicious activities;
f) money laundering and terrorist financing prevention, sanctions, legal, tax, corruption, fraud, security or other risks exist;
g) the User acts on behalf of or for the benefit of a third party without proper disclosure and the Company's approval;
h) in the Company's assessment, the User's conduct, Transactions or communications endanger the rights, legitimate interests or security of the Company, other Users, partners or third parties;
i) continued servicing of the user account may conflict with applicable legislation, a requirement of a competent authority or the Company's internal policies.
22.4. A restriction or suspension of the user account may apply until the necessary checks, document review, security measures, and legal or compliance assessment have been completed.
22.5. Where possible and permitted by law, the Company may inform the User of the restriction, suspension or termination of the user account. However, the Company is not obliged to disclose all internal reasons, methodology, risk criteria or results of third-party checks if disclosure could harm the security, compliance or risk management system, or violate legal requirements or the rights of third parties.
22.6. Restriction, suspension or termination of the user account or services does not release the User from obligations that arose before that time, including obligations concerning fees, documents, compensation for damage, taxes or other matters.
22.7. If there are outstanding Transactions with the User when the user account is restricted, suspended or terminated, the Company may complete, suspend, cancel or reject them, or move them to the return stage, in accordance with the procedure established by these Terms, the Website's procedures, and legal, technical, compliance and security requirements.
22.8. Closure of the user account at the User's request may be postponed if there are outstanding Transactions, unresolved disputes, obligations, legal or compliance checks, data that must be retained, or requirements of a competent authority.
22.9. Following closure of the user account or termination of the services, the Company is entitled to retain the User's data, documents, Transaction history, communications and other information for as long as necessary for legal, accounting, tax, compliance, security, dispute resolution and evidentiary purposes.
22.10. Restriction, suspension, blocking or termination of the user account or services by the Company does not constitute a breach of the Company's obligations if the action was taken to implement these Terms or the policies published on the Website, to comply with applicable legislation or a requirement of a competent authority, or for security, compliance or risk management purposes.
23. Communications and Notices
23.1. Communications between the Company and the User may take place through the personal account area on the Website, user account notifications, email, telephone, SMS, a messaging application or other official means of communication specified on the Website.
23.2. The User must ensure that the email address, telephone number and other contact details registered on the Website are accurate, accessible and up to date.
23.3. The User must immediately update the User's contact details or apply to the Company to have them amended if they have changed, are no longer accessible or are incorrect.
23.4. A notice sent by the Company to the User's registered email address, telephone number, personal account area or user account is deemed duly sent and received from the moment it is sent.
23.5. The User agrees to receive transactional, identification, security, legal, technical, compliance, payment and other necessary service-related notices.
23.6. Information concerning Transaction statuses, payment or transfer details, requests for Additional Documents, suspension, rejection, cancellation, return or other material events, provided on the Website, in the user account or through the Company's official means of communication, constitutes proper notification of the User.
23.7. Applications, complaints, claims, documents or information sent by the User to the Company must be submitted through the official contact channels specified on the Website or in another manner established by the Company.
23.8. Messages sent through unofficial means of communication, including social networks, personal messaging applications or third parties, may not be treated as an official application, claim or notice unless the Company has expressly accepted them as official communications.
23.9. The User is responsible for the consequences of providing an incorrect, inaccessible or outdated email address, telephone number or other contact details.
23.10. The Company is entitled to retain communications with the User, notices, applications, responses and other messages for legal, compliance, security, dispute resolution and evidentiary purposes.
24. Amendments to the Terms and Policies
24.1. The Company is entitled at any time to amend, supplement, update or adopt a revised version of these Terms, the policies, appendices, tariffs, limits and Transaction procedures published on the Website, and other rules governing the use of the services.
24.2. Amendments may be made on the basis of legal requirements, changes in the regulatory environment, the development of services, technical or operational needs, security, risk management, market conditions, requirements of partners or third parties, or changes to the Company's internal policies.
24.3. Amended terms or policies are published on the Website or made available to the User through the Website, the user account, email or other official means of communication of the Company.
24.4. Amendments take effect upon publication on the Website or on another date specified in the relevant amended document.
24.5. The User's continued use of the Website, user account or services, creation of a new Transaction, continuation of an existing Transaction or selection of the relevant consent box after amendments constitutes full and unconditional acceptance of the amended terms.
24.6. If the User disagrees with the amended terms, the User must stop using the Website and services and, where necessary, apply to the Company to close the user account or resolve outstanding Transactions.
24.7. The Company is entitled to apply particular amendments immediately where necessary to comply with legal requirements, ensure security or compliance, prevent money laundering and terrorist financing, manage sanctions risks, prevent technical failures, or protect the legitimate interests of Users and the Company.
24.8. The Company is not obliged to maintain the previous terms for new Transactions if the amended terms have already taken effect and been published on the Website.
24.9. Transactions created before amendments take effect but not yet completed may remain subject to the terms in force when the Transaction was created or confirmed, except where immediate application of the amendments is required by law, pursuant to a requirement of a competent authority, or for security, compliance or risk management purposes.
24.10. The User must periodically review the terms, policies, tariffs, limits and other rules published on the Website to ensure that they are understandable and acceptable to the User.
25. Governing Law and Dispute Resolution
25.1. These Terms, all rights, obligations, claims and disputes arising out of or relating to them, and any non-contractual claims are governed by and construed in accordance with the legislation of the Republic of Armenia in force.
25.2. An attempt must first be made to resolve any dispute, claim, disagreement or complaint between the User and the Company arising from these Terms, use of the Website, registration, identification, Transactions, payments, Crypto-asset transfers, the provision of services or their termination through negotiations and written communications.
25.3. The User may submit a complaint, application, claim or objection to the Company through the official means of communication specified on the Website, setting out the substance of the claim, the Transaction details, supporting documents and other necessary information.
25.4. The Company examines the User's complaint or claim within a reasonable period, taking into account the nature of the claim, the complexity of the Transaction, the need for Additional Documents, the involvement of third parties, and technical or legal circumstances.
25.5. If a dispute is not resolved through negotiations or written communications, it is subject to adjudication and final resolution by the competent courts of the Republic of Armenia, unless a different procedure or jurisdiction is mandatory under applicable legislation.
25.6. The User agrees that the courts of the Republic of Armenia may have jurisdiction to hear disputes arising from these Terms, use of the Website, Transactions or services, to the extent permitted by law.
25.7. Nothing in this Section limits the Company's right to apply to competent public authorities, courts, law enforcement authorities, regulatory authorities or other competent persons where necessary to protect the rights, legitimate interests or security of the Company, Users, partners or third parties, or for compliance or evidentiary purposes.
25.8. The existence of a dispute does not release the User from fulfilling obligations arising under these Terms that are not disputed or whose fulfilment is necessary to comply with legal, compliance, security or Transaction procedures.
25.9. The fact that the User is outside the Republic of Armenia or is a citizen, resident or tax resident of another state does not preclude the application of the law of the Republic of Armenia to these Terms or the jurisdiction of the competent courts of the Republic of Armenia, to the extent permitted by law.
26. Final Provisions
26.1. These Terms, together with the policies, appendices, rules, tariffs, limits and Transaction procedures published on the Website and referred to in these Terms, constitute the entire agreement between the User and the Company concerning the use of OurExchangeClub services.
26.2. A finding that any provision of these Terms is invalid, unlawful or inapplicable does not affect the validity, lawfulness or applicability of the remaining provisions. In such a case, the invalid or inapplicable provision is interpreted or replaced by a lawful and applicable provision that is as close as possible to the purpose and economic rationale of the original provision.
26.3. The Company's failure to exercise, delay in exercising or partial exercise of any right granted to it under these Terms or by law does not constitute a waiver of that right and does not restrict the Company's right to exercise it in full at a later date.
26.4. The User may not transfer, assign or otherwise dispose of the User's rights or obligations under these Terms to a third party without the Company's prior written consent.
26.5. The Company is entitled to transfer, assign or delegate certain rights or obligations under these Terms, or transfer them as part of a reorganisation, legal succession, a partnership arrangement or another service provision structure, provided that this does not conflict with applicable legislation and does not infringe the User's legally protected rights.
26.6. The headings used in these Terms are for convenience only and do not affect the interpretation of their provisions.
26.7. If a provision of these Terms conflicts with a provision of another policy or appendix published on the Website, the provision specifically governing the relevant relationship applies, unless the Company has expressly provided otherwise.
26.8. The Armenian version of these Terms is the principal and prevailing version. In the event of any conflict, difference or inconsistency in interpretation between a translation into English, Russian or another language and the Armenian version, the Armenian version prevails.
26.9. The User confirms that, when accepting these Terms, the User had a sufficient opportunity to review their content, understand the User's rights and obligations, and, where necessary, obtain independent legal, tax, financial or technical advice.
26.10. These Terms take effect upon acceptance by the User and remain in effect for as long as the User uses the Website, maintains an active user account, executes Transactions or has outstanding obligations to the Company, and to the extent that individual provisions must, by their nature, continue to apply after termination of the relationship.
27. Company Details
27.1. The OurExchangeClub Platform is operated by UNITRADE INTERNATIONAL LLC, registered in the Republic of Armenia.
27.2. The Company's details are as follows:
Legal name: UNITRADE INTERNATIONAL LLC;
State registration number: 273.110.112229;
Taxpayer identification number: 02825175;
Chief Executive Officer: Mr. Avetis Varosyan;
Website: ourexchange.club;
Email: info@ourexchange.club;
Telephone:+374 94 048 044;
Location / registered address: Republic of Armenia, Yerevan, 0002, 31/3 Tumanyan Street;
Address for complaints, applications and official communications: info@ourexchange.club.
27.3. Official communications with the Company take place through the contact channels specified in these Terms, on the Website or in other official sources published by the Company.
27.4. If the Company's details change, the Company may publish the updated details on the Website, and such publication constitutes proper notification of the User of the change.