Terms of Service

[Last updated on May 22, 2018]

Welcome to our site and Terms of Service, please read carefully as we consider our relationship to be important and equally important that you take part of the terms and provisions of our Safello customer relationship.

Contents

1. General Terms and Provisions of these Terms of Service
2. Warranty by the Customer
3. Service restrictions
4. Limitation of responsibility
5. Governing laws
6. Usage of the services or the website
7. Limitation of liability
8. Fees
9. Third party links
10. Force Majeure
11. Data privacy and data protection
12. Risks and risk warnings
13. Cookies
14. Changes
15. Termination
16. Severability
17. Miscellaneous

1. General Terms and Provisions of these Terms of Service

These Terms of Service (hereinafter referred to as “Terms of Service”) apply to all customers using the services of Safello AB, reg. no. 556892-3550, (hereinafter referred to as “Safello”) through this website or other means of access. The Terms of Service govern your access and use of the site but also exclusively apply to all transactions and business relationships between you and us, Safello AB.

By registering as a customer on Safello’s website and completing the registration process by clicking on the “I accept” button:

A, you agree to be bound by these Terms of Service and as stated below.

B, You also agree to be bound by Safello’s AML Policy, Privacy Policy through explicit approvals on the website.

C, If not explicitly agreed in writing Safello does not accept any other terms, nor any other business terms of its customers or business relationships.

D, By accepting these Terms of Service you also consent to receiving electronic communication from Safello. Such communication may include information about your account and other communication between us and you as customer on transactional information, notices, changes to our Terms of Service or other information relevant to our relationship.

E, In the customer registration process Safello may ask you to provide further information about yourself and maybe also more documents. We appreciate you understand this since Safello operates as a Financial Institution in Sweden and carefully follows existing laws and regulations most importantly on Anti Money Laundering.

In the customer registration process Safello requires and asks for certain detailed and specified personal and other information in the process of becoming a customer. Such data is collected for specified, explicit and legitimate purposes and is not processed for reasons or purposes that are not incompatible for those purposes. Data collected on you is processed in a lawful, fair and transparent manner in relation to you as an individual customer and is only collected for adequate, relevant purposes and limited to what is necessary for the purposes of being a customer of the Safello services as well as other purposes mentioned in the Privacy Policy.

2. Warranty by the Customer

Please be aware that by opening and verifying a customer account, you expressly represent and warrant that:

• All information entered is complete, valid and true,
• The Safello services is not used for intentions nor any activities of money laundering or financing of terrorism,
• You as customer warrant that you are the beneficial owner of funds, customer account and cryptocurrency wallet address.This means that you can only sell and purchase cryptocurrency using your own personal funds, customer account/cryptocurrency wallet address and you warrant to not conduct any transactions on behalf of someone else,
• You as customer is of age and have the full capacity to accept these Terms of Service and to use the Safello services,
• You are a citizen of, or resident within, the EU/EEA, Andorra, Monaco, Montenegro, San Marino, Switzerland and Jersey/Guernsey/Isle of Man, and
• You are not a citizen of the United States nor are you a resident or located in the United States.

3. Service restrictions

The Safello website does not address people who are prohibited under the applicable laws or regulations of their citizenship, domicile or residence from having access to or use such websites and services such as the Safello website, including but not limited to, money laundering, illegal gambling operations, drug trafficking, financing terrorism, or malicious hacking. Persons who are prohibited from having access to the information on this website or who are in doubt whether or not they are permitted to access or use the Safello services or not, are kindly requested to leave the Safello website.

If Safello asses that the use of Safello services is not in accordance with applicable policies and/or terms, or if the use could be in violation of law or regulation in such person’s home country jurisdiction or any other related jurisdiction, or considered to be too great a risk from an Anti-Money Laundering or other risk perspective, Safello will not provide any such products or services to that person.

Safello also reserves the right to fully or partly limit access to the Safello services if it is appropriate due to maintenance or security purposes.

Safello does not guarantee that its services are always available but targets a 99% uptime as standard.

Safello reserves the right to not process transactions if they are either too small or too large.

4. Limitation of responsibility

Safello and Safello´s third-party providers do not have any responsibility for content that is presented in Safello’s web service which directly or indirectly damage or creates a loss for the customer or any other person who has taken part of it. Safello specifically claims no responsibility for direct or indirect damages, loss of profit or income, or any other damage towards the customer or a third party that might occur due to inconsistent, false or non-existent information presented on the website. This also applies to any outages, delays or corrupted data that might happen to Safello or its third-party service providers due to technical reasons.

Safello claims no responsibility for any information given to Safello by a third-party vendor or their products presented at Safello. Safello also assumes no liability for how information is presented by a third-party vendor. Any error or delay is outside Safello’s liability. Neither Safello nor the web service provider are responsible for how the customer chooses to use the information presented at the website. The customer’s access and usage of the service is solely the customer’s responsibility.

Safello reminds the customer that handling of cryptocurrencies is combined with great risks, see Section 12 on Risks. Safello disclaims itself from all responsibilities for the results that might occur due to usage of its services. Any commerce the customer might conduct with the products purchased from Safello is outside Safello’s responsibility. Safello also claims no responsibility for how the information presented by any Safello website is interpreted.

5. Governing laws

These Terms of Use and the Safello website and services are governed by the laws of Sweden. Any dispute shall be settled under the jurisdiction of Swedish law and by Swedish courts.

6. Usage of the services or the website

As a customer and visitor of this website you accept the fact that it is not allowed to use any kinds of robots, spiders, scrapers or other scripted or automated tools without written consent from Safello. The only exception is indexing tools such as Google. You accept to not use any tool that causes extensive or unproportionally large burden for Safello’s site or other Safello services.

Safello in all circumstances retains the ownership, copyright and all other immaterial rights of this website. The publication, reproduction, transfer or storage of the contents of the site in whole or in part is forbidden unless the holder of title, copyright, title or other immaterial right has granted permission for such an action. The prohibition does not apply to storage on a computer or printing for personal use only. The contents may be quoted according to the applicable copyright legislation. When the contents are quoted the source shall have to be indicated. The trade marks or logos included on the site may, however, not be reproduced, published or distributed without the previous written consent of the holder of the title.

7. Limitation of liability

Safello shall not be liable for any loss that you may incur as a result of malfunctions, errors, security breaches, corrupted wallet files, forgotten passwords, incorrect transactions or mistyped cryptocurrency wallet addresses or any other reason.

Please immediately notify Safello if you suspect any security breach, caused by you or anyone else. If you experience or notice suspicious activity, please contact us via e-mail:

8. Fees

Fees for transactions are charged as displayed on the Fee page on the Safello website. Please follow this link to access the Fee page.

9. Third party links

Where Safello provides text links to third party websites, such links are not an endorsement by Safello of any products or services provided on or via such websites. The use of such links is entirely at the customer’s own risk and Safello accepts no responsibility or liability for the content, use or availability of such websites. Safello has not verified the truth, accuracy, reasonability, reliability or completeness of any content of such websites.

10. Force Majeure

Safello is not accountable for any kind of damage the customer can experience from events beyond Safello’s control. This includes events like explosion, fire, flooding or other accidents, sabotage, event of warfare, strike or other work related conflict, changes of laws or regulations, or other decisions made by regulatory bodies. The conditions about strike or other work related conflict also applies in cases where Safello takes action or is a target for such a conflict. Except from what can normally be understood as events outside Safello’s control, an event, that is considered costly or onerous for Safello compared to normal operation, shall not make Safello obligated to compensate for damages the customer might experience if Safello has been normally cautious.

11. Data privacy and data protection

Data privacy and data protection is governed by Safello’s Privacy Policy. To learn more about Safello’s compliance with GDPR and how to exercise your rights please visit https://safello.com/legal/gdpr

12. Risks and risk warnings

Safello targets providing a highly trustworthy, secure, compliant and excellent service in the buying and selling of cryptocurrencies however also acknowledges and wants to inform the customers of the risks in connection with activities with cryptocurrencies.

Safello encourages its customers to get acquainted and build knowledge with these risks and how to manage cryptocurrency.

• Cryptocurrency per se and cryptocurrency pricing is not guaranteed by anyone and cryptocurrency may therefore not be considered a monetary asset. Cryptographic units of value are not legally currencies and are accepted only in a few jurisdictions, and only by some market participants as a means of payment which is why customers should be aware of the restricted usage and risks related to expectation and usage.
• Risk of theft and internet vulnerability is present at all times and Safello encourages its customers to take necessary precautions, to follow instructions carefully and to build proper knowledge surrounding these matters. Using a platform and the services of Safello also comes with risks but the customer may lower these risks by applying proper care in transacting with his or her cryptocurrency, funds, wallets and Safello. Every activity connected to the internet comes with risks of cyber related crime towards one’s assets. Safello is not a custodian of cryptocurrency and will only send cryptocurrency directly to the wallet address provided by the customer.
  
• Buying and selling cryptocurrency is highly speculative with a high risk of volatile changes to pricing and transaction completion time. There is always a risk of abandonment or lack of success in a transaction which Safello targets to minimize as risk by supporting such transactions through its service. Safello does not bear any responsibility for volatility between placement and execution of orders.
• Customers should and must inform themselves on the relevant tax consequences connected with buying, selling and transacting in cryptocurrency in their jurisdictions. In Sweden we refer to Skatteverket.se for more information.
• Regulatory risks are present since the internet is global and cryptocurrency is universally global however not accepted in all jurisdictions. The customer should stay informed of regulatory and legal changes which may impact their ownership and transaction capabilities in cryptocurrency.

13. Cookies

The Safello site is using cookies. Cookies are small text files that are placed on the customer’s computer by websites that the customer is visiting. Cookies are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the website. Cookies are typically stored on the customer’s computer’s hard drive. Information collected from cookies is used by Safello to evaluate the effectiveness of Safello’s website, analyse trends, and administer the platform. The information collected from cookies allows Safello to determine such things as which parts of our website are most visited and difficulties the visitors may experience in accessing the Safello website. With this knowledge, Safello can improve the quality of our customer experience on the platform by recognizing and delivering more of the most desired features and information, as well as by resolving access difficulties. Safello also uses cookies and/or a technology known as web bugs or clear gifs, which are typically stored in e-mails to help us confirm your receipt of, and response to, our e-mails and to provide you with a more personalized experience when using our website. We use third party service provider(s), to assist us in better understanding the use of the website. Our service provider(s) will place cookies on the hard drive of your computer and will receive information that we select that will educate us on such things as how visitors navigate around our site, what products are browsed, and general transaction information. Our service provider(s) analyses this information and provides us with aggregate reports. The information and analysis provided by our service provider(s) will be used to assist us in better understanding our visitors’ interests in our website and how to better serve those interests. The information collected by our service provider(s) may be linked to and combined with information that we collect about you while you are using the platform. Our service provider(s) is/are contractually restricted from using information they receive from our site other than to assist us. By using our site you are agreeing that we may use cookies for the purposes set out above.

14. Changes

Safellos Terms of Service, policies, content, information, promotions, disclosures, disclaimers and features may be revised, modified, updated, and/or supplemented at any time and without prior notice at the sole and absolute discretion of Safello. You will, however, of course be notified if changes are made to these Terms of Service. If you continue to use the Safello services after the notification, it means that you as a customer agree on the change of terms.

15. Termination

You may of course terminate your relationship with us even though we would be sad to see you go. You can terminate your relationship with us by written termination to . We would appreciate if you provide us with information on the reasons for this termination so that we have the opportunity to improve.

We could also choose to terminate our relationship with you immediately if you violate any of the mandatory terms set forth in our agreements or policy framework. We reserve the right, without notice and in our discretion, to terminate your access or use of the site at any time if we find that you are in violation of what you have approved as commitment towards Safello. The reasons for Safellos termination may however go beyond what is stated above under Section 1, if we determine inconsistency with existing laws, market practice and what we deem a correct customer relationship. You acknowledge and agree that Safello will not be liable or have any obligation towards you in such an event however we commit to communicate with you on the reasons in the swiftest possible manner, unless prohibited by law. Safello specifically targets upholding Anti Money laundering activities to the highest standard possible.

16. Severability

If a competent court would deem any term or provision of these Terms of Services invalid or unenforceable, then that term or provision will be removed from these Terms of Services however will not affect the validity or enforceability of any remaining part, term or provision.

17. Miscellaneous

These Terms of Services constitutes the entire agreement between you as a customer and Safello. Our agreement is solely for the benefit of our relationship and may not be transferred to another party.

If you have any questions, comments, or concerns regarding our Terms of Service, please contact us at the following e-mail address: