Our Terms of Use

ONLINE EXCHANGE TERMS OF USE

These Terms of Use, in addition to Privacy Policy (available at http://lionex.net/privacy/) govern the use by Customer and the provision by lionex.net of the Services.

1.      Definitions.

In these Terms of Use, the following terms will have the meaning set forth below:

“Service” – partially automated hardware-software complex “lionex.net”, located on the Internet at http://lionex.net.

“Customer” – means a private or legal person willing to use the Services being provided by the Service who has agreed to all the provisions set up by this Terms.

“Title units” – mean accounting units of the corresponding Payment systems determining a specified scope of rights of claim or some other rights arising from the agreement executed by the Payment systems and their customers.

“Resultant details” – mean number, wallet, email or any other indication of Customer account in the Payment system which is stated in the Customer Order for the Service to send the Title units.

“Order” – means the information provided by the Customer via technical means of the Service in digital format indicating their intention to use the Exchange services under the conditions proposed by the Service and stated in Order characteristics.

“Payment System” – hardware-software complex developed by a third party (electronic currency processor) for an online settlements between users.

"Terms of Use" means this Electronic Dealing Terms of Use.

2.      Use of Services.

      With the help of technical means of the Service by way of making an Order the Customer authorizes and the Service for a compensation in its own name and at the Customer expense receives and transfers the amount of the Title units declared by the Customer and stated in the Order characteristics at the details provided by the Customer.
Customer acknowledges and agrees that Customer may access or use the Services through the Internet and that such connection is not necessarily secure and lionex.net does not warrant that such connections and methods of access are secure. Customer will be responsible for ensuring the security of Customer's access to or use of the Services.

3.    General Provisions and Terms.

3.1 This Agreement shall be deemed to be concluded under the public offer, accepted by the Customer whilst completing an Order, which is an integral part of this Agreement. Public offer is a set of parameters of an Order which is displayed to a Customer along with other relevant information. Once a Customer submits an Order, a public offer shall be considered accepted on the terms proposed by Service prior to that. Date and time of acceptance along with other parameters are fixed automatically upon submitting. The Agreement gains force at the moment when we receive the funds from the Customer according to the Order. Accounting for transactions shall be carried out under rules and regulations of payment systems involved.

3.2 After confirmation of the Order the Customer makes the transfer of title units within 24 hours, or the funds in full, according to the Order, to the details of the Service and only in the manner specified in the Order. The Customer confirms the title units wire by clicking the confirmation button in the process of Order placement. Only after this action the Service is being provided by lionex.net. If the Customer delays the Order confirmation for more than 24 hours, the Service leaves the right to cancel the Order. The Customer in that case can create a new Order using the actual exchange rates.

3.3. The Service leaves the right to refuse to process the Order without any explanations. The Customer can find out about the reasons of refusal or delay by contacting the online support or via email. The Contacts are stated on the relevant page by the address http://lionex.net/contacts/.

3.5. The Service is not responsible for delays or failures in the handling of operations arising as a consequence: of any problems in the telecommunications, computer and other systems; force majeure action of Payment Systems (block or closure of the accounts, freezing or holding of funds, denial of service); actions of third parties, and other circumstances which are stated below in paragraph 10 of this Agreement.

3.6. The Service is not responsible and will not indemnify any losses or lost profit or any other expenses connected to incorrect using of the Service as well as Customer mistakes made when filling out the exchange form that can lead to the Payment being delayed or the Title units being sent at the wrongly stated details.

3.7. The Service reserves the right to increase or decrease the time of the Operation, depending on several factors such as availability of services of Payment Systems and the availability of electronic currency reserves. The Service is making every effort to ensure that Operations will be processed in the target dates. However, under no circumstances, the Service is not liable for the consequences of the issues or losses which have resulted due to the delay of the Operation.

3.8. In case of detection of any illegal action of the Customer that have caused financial loss to the Service, the Service reserves the right to compensate these losses from the Customer by any available means. In some cases, the Service can request to block user accounts in Payment System(s).

3.6 The Customer is obliged to use the Service only for lawful purposes and not to try to disrupt the Service. If the Service has doubts about the legitimacy and integrity of the Customer, it reserves the right to seek full identification of the Customer. Therefore the Service may request additional documents from User which may be needed for security checks. This information is stored in the Customer`s personal cabinet and is the subject to the Privacy Policy terms.

4.     Disputes Resolution

All disputes connected to the provision of Exchange services to the Customer will be settled by the way of negotiations between the Customer and the Service administration based on the conditions of this Agreement.

 

5.      Compliance with Laws

Customer acknowledges that its access to and use of any Service may be restricted or limited as a result of Applicable Laws. Customer undertakes to familiarize itself, keep current with and comply with Applicable Laws including, without limitation, laws or other requirements governing the sale and resale of securities, prohibiting price manipulation, deceptive trading, fraud, short selling or insider trading, requiring "best execution" or the display of Order-related information or the recording, transmission to third parties or maintenance of records in relation to the use of any Service by Customer, its Authorized Users or the provision of information to exchanges and/or Governmental or Regulatory Authorities where obliged to do so.

6.  Disclosure of Customer Information.

lionex.net collects, uses and discloses personal information in accordance with lionex`s privacy policy, available at http://lionex.net/privacy/. By accepting the Agreement, and each time Customer uses a Service, Customer consents to the collection, use and disclosure of personal information by lionex in accordance with the privacy policy as it then reads.

In particular Service reserves the right to provide information on transactions to authorities and relevant payment systems by request.

7.      Customer's Acknowledgements

Customer acknowledges and agrees that:

          1) any transaction utilizing the Services involves risks, including but not limited to the risk of losses associated with currency fluctuations, and Customer is willing to accept and is capable of understanding any and all such risks;

          2) it is familiar with the Services and fully understands its payment and settlement obligations being created thereunder;

          3) the price or rate charged by lionex in respect of any transaction in connection with the Services may include a spread or other fee or commission;          
and Customer acknowledges and agrees that it has made its own independent decision to enter into this Agreement and any transaction under the Services based upon its own judgment.

8.  General

      (a) Notices. All notices to lionex will be in writing and will be sent to official email, return receipt requested. All notices to Customer may be given to Customer by electronic display during use of the Service, or via email address provided by the Customer in it`s personal cabinet and will be deemed given and received on the date such notice is issued.

      (b) Amendments. lionex reserves the right, at it's sole discretion, to change, modify, add, or delete portions of the Agreement, any User Guide or these Terms of Use alone at any time by posting or displaying such amendments on our website. Any amendment will not affect any Order received by lionex prior to the effective date of the amendment. Customer's use of any Service after lionex posts an amendment means that Customer agrees to and accepts such amendment. If Customer does not agree to an amendment, Customer must immediately stop using the Services.

9.    Force Majeure

Neither party will be liable for any delay or failure in the performance of its obligations hereunder if and to the extent such delay or failure is caused, directly or indirectly, by fire, flood, explosion, war, terrorism, earthquake, elements of nature or acts of God or the public enemy; riots, civil disorders, rebellions or revolutions in any country; embargo; strikes, lockouts, or labor difficulties; any failure in electrical or air conditioning equipment; unavailability of parts; civil or military authority; inability to secure materials or transportation facilities; act or omission of carriers or suppliers; inability to obtain any relevant data, access links or other communication facilities; any governmental requirements or any acts or failures to act of any governmental authority; or any other cause, whether or not similar to the foregoing, beyond the reasonable control of such party. Any party so delayed in its performance will notify the other party, and such notice will describe in reasonable detail the circumstances causing such delay. During the time that any of the events specified above continue to exist, each of the obligations of each party hereto, other than those affected by the events listed above, will remain in full force and effect and each party will continue to perform such obligations hereunder.

     

These Terms of Use were last revised on May 20, 2016.