Agreement on WMX
WMX Property Rights Storage Agreement
INDX Transactions Ltd., hereinafter referred to as the "Keeper", on the one hand, and any person who has taken (accepted) this Agreement, hereinafter referred to as the "Owner", on the other hand, jointly named as the "Parties", have concluded this Property Rights Storage Agreement for publication of records in the global public database of bitcoin.org network, hereinafter referred to as the "Agreement".
1. Subject of the Agreement
- For remuneration, the Keeper shall store the property rights transferred to him by the Owner, hereinafter referred to as the "BTC property rights" or the "BTC", under the conditions set forth herein.
- The Keeper shall keep records of the amount of the stored property rights of the Owner using an automated accounting system - WebMoney Transfer, hereinafter referred to as the "System». Entries (in numbers) at the details of BTC (X-type purse) quantity records belonging to the Owner certify the quantitative right to make entries in the global public database of bitcoin.org according to the rules published at http://bitcoin.org/bitcoin.pdf stored and belonged to the Owner under the ownership rights. The unit of account in the Purses is 0.001BTC (denoted as 1 WMX) giving the right to make 100,000 records into the global public database of bitcoin.org network.
- Preparation and transfer of BTC property rights by the Owner from one account to another is verified by the Keeper by means of hardware and software complex of Webmoney Transfer system by executing acts of transfer and acceptance by which the Parties recognize the transaction records on X-type purses.
- The Owner may transfer partially or fully BTC property rights belonging to him (recorded at his X-type Purses) to other Owners-users of the System, using the accounting tools of the System.
- BTC is stored together with BTCs of other Owners in the form of records on details of the Keeper in the global public database of bitcoin.org network.
- The Agreement is concluded on the conditions of BTC property rights storage to be called by the Owner.
2. Rights and Liabilities of the Parties
- The Keeper shall:
- Ensure the preservation of BTC property rights in accordance with the terms of the Agreement.
- At the request of the Owner, return BTC in accordance with the amount verified at the time of such return by the record at the Owner's account.
- Without the consent of the Owner, do not use the kept BTC property rights.
- Immediately notify the Owner on the need to change the keeping conditions of BTC property rights provided by the Agreement. Changes to the Agreement shall be deemed accepted after five (5) calendar days from the date of their publication on the website of the System, except for changes in para. 6.1, effective as of the date of publishing the information at the website of the System.
2. The Keeper has the right to:
- Unilaterally withdraw from execution of this Agreement in the case of an unreliable indication of details by the Owner allowing uniquely identify him, as well as in the event of breach by the Owner of paragraphs 2.3.2, 6.1, 6.2 of the Agreement, codes, policies, regulations and other documents of the System. In this case, the Keeper agrees to return the kept property to the Owner according to the details specified by the Owner of by means of Webmoney Transfer System procedures.
- Engage third parties to fulfill the obligations under the Agreement.
3. The Owner is obliged to:
- At the conclusion of this Agreement, specify his genuine information and details giving the possibility to identify him precisely.
- Notify the Keeper in advance and terminate this Agreement in the event of a change of the country of permanent residence, if the country is on the list of countries referred to in paragraph 6.1 of the Agreement.
4. The Owner has the right to:
- Handle and use owned BTC property rights in his sole discretion, including transferring and selling them to third parties.
3. Liability of the Parties.
- The Keeper is solely responsible for the BTC property rights transferred to be kept by him under this Agreement unless loss, shortage or damage occurred due to force majeure, or because of the termination of operation of bitcoin.org network.
- The Owner solely bears full responsibility for complying with the law of his country of residence, for the use of owned BTC property rights, including administrative, criminal and/or other responsibility for compliance with the requirements of paragraphs 2.3.2, 6.1, 6.2, and for any illegal acts committed by him with the Purse and/or means of payment of Webmoney Transfer System.
4. Return from the Storage.
- Return of BTC property rights to the Owner shall be made to bitcoin.org network addresses specified by the Owner by transfer from the Keeper addresses in bitcoin.org. Return from the storage shall be performed automatically by software means of the Keeper after receiving the return address from the Owner. After the implementation of the return to the address specified by the Owner, the Keeper shall report ID of return operation in bitcoin.org network to the Owner by means of Webmoney Transfer System.
5. The Order and Method of Payment.
- The Keeper shall be remunerated by the Owner for the provision of services for the keeping BTC property rights with a fee in the amount of 0.8 (eight)% of the amount of BTC property rights transferred from the record details of the Owner in the System to the record details of third parties, but not less than one-hundredth of a unit of account (0.01 WMX) and not more than fifty units (50 WMX).The fee shall include all costs of the Keeper relating to the execution of the Agreement.
- Remuneration of the Keeper shall be taken by the Keeper by indisputably means of transferring the BTC property rights in the amount of remuneration at the time of transfer of BTC property rights to a third party.
- This Agreement is not signed with the Owner located in the following countries: Syria, Iraq, Afghanistan, Bangladesh, Bolivia, Ecuador, Republic of Macedonia, Saudi Arabia. List of countries and individuals can be unilaterally changed at any time by the Keeper.
- Services under this Agreement shall not be rendered and operations of transfer of BTC property rights shall not be implemented in the event if the Owner is located in the countries referred to in para.6.1 of the Agreement, except for operations directly related to obtaining BTC property rights by the Owner from the Keeper.
- By accepting this Agreement, hosted on the server of the Systems on the Internet, the Agreement on the proposed terms shall be deemed to be concluded in electronic form and shall enter into force as of the date the System verifies that BTC property rights arrived for keeping.
- The parties acknowledge that the documents in electronic form, made using (by means of) Webmoney Transfer System (storage agreement, acts of delivery and acceptance, sales and purchase agreement, invoices, statements of record details) having legally equal force in writing.
- Upon request of the Owner, the Keeper shall make with him a paper copy of this Agreement after the Owner submits his means of identification in the System, the documents confirming his competence, details, and signed paper copies of the Agreement.