PotWallet Terms of Service

Updated: 2015-06-17

These terms of service constitute the whole agreement between you (the “User”, “you”, “your”) and PotWallet.com (“PotWallet”, “us”, “our”), and regulates the relationship between you and PotWallet, including use of the PotWallet.com website, trading platform and exchange, and any other associated activities or services provided to you by PotWallet

You may not use any PotWallet services in contravention or non-acceptance of the terms contained herein. By signing up for a PotWallet account, you agree to the terms contained herein, and undertake to comply with the provisions in these terms throughout your relationship with PotWallet.

We may amend, adjust, vary or modify the terms of this Agreement at any time. In good faith any amendments, adjustments, variances or modifications will be posted on the PotWallet website, or communicated by email or both.

You agree that we may modify or discontinue your PotWallet services at any time, for reasons including breach or non-compliance with these terms, and that we shall bear no liability in any circumstances to you, except as to any relevant provisions contained in these terms. You must be at least 18 years old or equivalent age of majority to use any PotWallet service.

You must be aware of the risks of using PotWallet services, and trading or exchanging potcoins, including:

i. transactions take a period of time to be confirmed, during which time a transaction has been submitted but is not complete. Your transaction will be confirmed, usually within a couple of hours, but the amount will not be available in your account balance while the transaction is pending.

ii. potcoin trading, exchanging and holding poses a risk of loss, and you should assess your trading, exchanging and holding of potcoins according to your individual financial position and risk tolerance. The value of potcoin can change rapidly for better or worse.

1. Our Services

Your PotWallet account provides a number of services, including:

- A potcoin account, allowing potcoin storage, transfer and management, the “Wallet”.

- A potcoin trading platform permitting users of PotWallet to trade with other users via escrow, the “Trading Platform”

- Services for merchants accepting potcoin transactions, the “Merchant Services”

2. Your PotWallet Account

2.1 In order to use our services, you are required to register your email address, password and identification details from time to time as requested. PotWallet reserves the right to refuse any application for a PotWallet account at our sole discretion, and may request additional identity verification in some circumstances.

2.2 You agree to provide information including identity verification as requested by us, in connection with any potcoin transaction or account, and authorize us or any appointed third party to conduct inquiries to confirm your identity at any time.

2.3 PotWallet reserves the right to cancel pending potcoin transactions, and must be compliant with applicable laws, court orders and other compliance requirements. Transactions through PotWallet are final only when they have been submitted to and confirmed by the potcoin exchange.

2.4 PotWallet limits all liability in respect of goods or services transacted in potcoins, including any transactions processed using any PotWallet service. All transactions in potcoin are final, and PotWallet cannot be held liable under any circumstances for any defects, non-delivery, defective delivery, or other issue arising in any potcoin transaction.

2.5 PotWallet accepts no responsibility or liability for any issues, including legal and taxation issues arising from your use of our services, or from any potcoin transaction or activity associated with PotWallet.

2.6 Your account may be subject to limits on the amounts you can buy, sell, transfer or store, applicable at the sole discretion of PotWallet.

2.7 We provide a secure environment for 100% potcoin storage, in both online and offline storage environments. In some cases, additional delays may arise where potcoin data must be retrieved from physical storage sources. You agree PotWallet is in no way liable for loss or damage resulting from any delay caused by this, or any other reason.

2.8 PotWallet is fully compliant in accordance with all applicable laws and regulations in the countries and jurisdictions in which we provide services. In some circumstances we may be required by law to block a transaction, reject funds transfers or otherwise intercept assets as requested or required in good faith by legal authorities. PotWallet is in no way responsible for any losses arising from this, or from any action taken in accordance with legal writ, order or other instruction.

3. The Trading Platform

3.1 PotWallet provides a Trading Platform for users to buy and sell potcoins. PotWallet is only an intermediary and is in no way liable for any loss arising whatsoever from the Trading Platform.

3.2 Accurate and correct references must be provided by potcoin buyers, and sellers are under no obligation to release potcoins if there are inaccuracies, errors or omissions in the reference message. Buyers must be prepared to submit to identity checking processes, as required by law or for fraud prevention.

3.3 PotWallet users must act in their own name and behalf only, and may not act as an intermediary, broker or agent. Account contact details must be genuine, accurate and in no way misleading or confusing as to the identity and best contact methods of the account holder.

4. Merchant Services

4.1 PotWallet provides services for merchants who accept potcoin payments from their customers. These potcoins can be traded on the Exchange platform, as set out in the terms of this agreement.

4.2 When payments are processed by PotWallet confirmation will be sent to merchants. Merchants may be required to submit verification information in order to ensure compliance with the terms of this agreement and the prevailing laws in the jurisdiction in which our services are offered. Transactions will be held as pending until outstanding identification processes and requirements have been fulfilled, at the sole discretion of PotWallet.

4.3 Merchants agree that PotWallet is in no way liable for any transaction processed through PotWallet accounts or services, and that we make no warranty as to the identity, validity, legality, compliance or certainty of any transaction or associated agreement or arrangement whatsoever.

4.4 Merchants in contravention of the list of Prohibited Trades and Businesses may be subject to any lawful sanction at the disposal of PotWallet to prevent the commission of crime, immoral or unlawful activities as prohibited. Merchants agree to adhere to the terms of service agreement in all dealings with PotWallet services.

4.5 Merchants using PotWallet services must maintain all appropriate licenses, insurances and legal compliance requirements relevant to the activities they conduct. PotWallet may request information related to this or any other aspect of your business activity, at the sole discretion of PotWallet as may be required by law or on suspicious usage patterns. You agree to promptly present any information required or requested by PotWallet reasonably in accordance with your use of any PotWallet service.

4.6 PotWallet reserves the right to cancel your merchant account at any time, at PotWallet's sole discretion where the Merchant has fallen in breach of PotWallet terms, processes or controls, including but not limited to instances of abuse of the system. Accounts may be cancelled or suspended by PotWallet where required by order of an applicable court, or where the account is linked with illegal or Restricted Activity, in accordance with the terms of this agreement.

4.7 This agreement will be governed by the laws of England and English courts. Any dispute arising will be heard in a court of PotWallet's choosing, and will have no regard to any other term importing choice of jurisdiction contained herein.

4.8 This Agreement is written broadly and is for indicative purposes. Words should be conveyed in their ordinary meanings, and clauses interpreted generally to import the spirit and good faith intentions of the relevant clause in question.

4.9 Any disagreement or dispute you may have with any decision made by PotWallet in accordance with this Agreement must be conveyed in writing first to PotWallet, affording adequate time for an appeal to be considered and a decision to be made. This step must be pursued before any court action can legitimately be filed in accordance with any breach of these terms.

5. The Relationship Between You and PotWallet

5.1 PotWallet is in not way a partner, associate, agent or consultant, and shares only the limited relationship of independent service provider with those who choose to use PotWalletservices. From time to time we may liaise with partners and third party associates to facilitate the smooth delivery of services to you.

5.2 Your privacy and data is handled in accordance with the provisions of our Privacy Policy, which should be read as an extension of these terms and conditions where applicable. Your contact information and sensitive data will be kept safely and securely at all times, and handled to the best of our ability in compliance with all applicable laws and reasonable practices.

5.3 By engaging in a relationship with PotWallet as an independent service provider, you consent to your records and data being held by us electronically, and to any communication via email, telephone, post, or any other valid means being sent to you as may be deemed necessary or relevant by PotWallet. You must be willing to receive electronic notifications to use the PotWallet service.

6. Restricted Activities and Prohibited Businesses

6.1 Any asset held, traded, stored or otherwise transacted through PotWallet must be owned by you, and must not be the property or patrimony or any other individual. You certify that any funds or assets linked to any PotWallet service in your name can be used to cover any outstanding obligations you have to PotWallet as a result of non-payment, or some other default in obligation.

6.2 PotWallet must not be used in any way that would be deemed a Restricted Activity. These include any usage that would violate legal provisions applicable to the user and their jurisdiction, any illegal or immoral activities which would be deemed in breach of the spirit of this Agreement, any fraudulent or deceptive practice, any usage that infringes any copyright or trademark, or in any way places an unduly large burden on our resources or services, or anything in any way deemed abusive, threatening or undesirable in reasonable circumstances, or any other usage which may be deemed unacceptable at the discretion of PotWallet.

6.3 We reserve the right to monitor your trading activity, and to make enquiries into your account and identity where required by law, or where we suspect you may be in breach of any provision of this Agreement, including those contained in this section.

7. General Provisions

7.1 PotWallet makes no warranty to any user of PotWallet services, and limits all liability to the fullest extent permitted by law. PotWallet is in no way responsible for any loss or damage sustained in connection with use of PotWallet services.

7.2 This Agreement and the additional provisions, annexes and policies referred within constitute the entire scope of the agreement and relationship between you and PotWallet.

7.3 This Agreement may not be assigned by you in whole or in part to any other party, and your obligations and responsibilities arising under this Agreement must be discharged by you without express permission from PotWallet.

7.4. If any single provision, clause, term or section of this agreement should be deemed invalid, unlawful or otherwise inapplicable in a recognised court, it shall be fully severable and separable from the rest of this agreement. Notwithstanding any non-applicable clause the remainder of the agreement will retain full legal effect.

7.5 The provisions of this agreement survive any individual transaction, process or other usage of PotWallet services, and will be held to stand into the future as long as may be practically necessary after a given transaction has been completed.

7.6 Events outwith the control of PotWallet shall not be deemed to give rise to liability in any circumstances, and force majeure and other circumstances will invalid any claims that might arise against PotWallet for losses incurred through use of our services. In any event PotWallet limits liability as far as is possible within the applicable laws of the jurisdiction of this Agreement.

7.7 Headings are provided for indicative purposes. Singulars import the plural, and any wording should be interpreted in light of the spirit and wording of any individual clause contained herein.