The Terms of service represent a legally binding agreement between you, the user, and Coinpay Pty., a company incorporated under the laws of South Africa and registered at 41 Beluga, Ormonde Street in Bryanston, Johannesburg. Therefore any reference to “we” “us” “our” “Coinexpress” and/or any similar term shall be understood as reference to Coinpay Pty.
By using our services you unconditionally accept these Terms and agree to be bound by and act in accordance with them. Furthermore you accept and agree that you are solely responsible for understanding and complying with all laws, rules, regulations and requirements of the jurisdiction in which you live that may be applicable to your use of the Coinexpress Site and/or your Coinexpress Account, including but not limited to, those related to export or import activity, taxes or foreign currency transactions.
Please read these Terms carefully before using the Coinexpress Site in order to be aware of your legal rights and obligations.
AMENDMENT OF TERMS
Coinexpress may amend the Terms at anytime. Please visit the coinexpress.co.za website regularly to check when the Terms were last updated and to review the current Terms. We will do our best to notify you of any amendments to the Terms that we consider likely to materially affect your rights and obligations. The continued use of Coinexpress, after any amendment to these Terms, constitutes your acceptance of the Terms, as modified by such amendment. If you do not accept the Terms, or any amendment to them, you must immediately stop using the Coinexpress.co.za site and it’s related services.
Exchange services of coinexpress – a service that buys and sells cryptocurrencies on behalf of its client based on our defined terms of service and the legal exchange agreement.
Legal exchange agreement – an agreement between the client and Coinpay pty. Facilitated by coinexpress.co.za and based on the terms of service specified in this agreement based upon which the client orders the exchange service of cryptocurrencies or fiat money and coinexpress obligates itself to render the exchange service.
Terms of Service – The material document present herein.
Coinexpress – an internet based service present on the world wide web under the address www.coinexpress.co.za under which the services the services of coinexpress and coinpay are rendered.
Operating entity – Both Coinexpress and coinexpress.co.za are operated by Coinpay pty a South African company resident at 41 Beluga, Ormonde street in Bryanston Johannesburg, and registered with the South African Companies and Intellectual Property Comission under the following registration number 2018 / 371514 / 07. Coinexpress.co.za and its legal representatives are fully authorized by Coinpay Pty to deal with all customers, customer related queries as well as third parties.
Orders – an order of coinexpress’s service made by the customer with the official form found on www.coinexpress.co.za, defining all details by which the customer wishes to, and agrees to buy or sell cryptocurrency. Among these details is the customer’s wallet address (in cases where cryptocurrency is bought) or the customer’s banking data such as the branch code and account number (when cryptocurrency is sold), the amount of cryptocurrency or South African rands exchanged, the acceptable margin of difference resulting from market exchange rates as well as the mode of exchange. A crucial and mandatory part of the exchange transaction is constituted by the customer transferring South African rands to our account (when cryptocurrency is bought) or the customer transferring cryptocurrency to our wallet address (when cryptocurrency is being sold). The process will only be finalized when
when the customer’s funds will be reflected in our bank account in cases where cryptocurrency is being bought or
Three network confirmations after the bitcoin appears on our wallet
Order form – the form published on our website www.coinexpress.co.za which the customer completes and which — after its acceptance by the customer — constitues a legally binding exchange agreement. Coinpay Pty and its subsidiary www.coinexpress.co.za renders the exchange service as bound by this agreement.
The customer – A physical and legal person person who has been verified by our FICA and KYC rules who is mentally and fully capable of entering legal agreements.
Payment intermediary – Coinpay Pty reserves the right to render payments through any of its authorized agents including but not limited to its legal directors.
By using Coinexpress, you expressly warrant and represent that:
You are 18 years of age or over and have full capacity to accept the Terms and enter any transaction available through the Coinexpress Site;
You will not open, or attempt to use Coinexpress under any name except your own; or use Coinexpress to carry out transactions on behalf of a third party;
You will not use Coinexpress service for or in relation to any illegal activity, any prohibited activity, in violation of any laws, statutes, ordinances or regulations
You are not a national or resident of the United States of America.
Any capitalised terms used in this Eligibility section shall have the meaning given to them in these Terms. Reference in these Terms to “Local Currency” means fiat or government issued currency (e.g. ZAR).
By using a Coinexpress service you accept and agree that Coinexpress may, without further notice and in its sole discretion, terminate, suspend or restrict any transaction of any customer who uses, or who we reasonably suspect may be using, the Coinexpress Site or any Coinexpress Account in a manner that is inconsistent with the letter or spirit of these Terms.
THE EXCHANGE AGREEMENT
The customer initiates the exchange agreement freely by completing and accepting our order form.
The customer needs to provide the amount of cryptocurrency or South African rands to be bought or sold. The customer also needs to chose the mode of exchange and acceptance.
Next the customer needs to enter the amount of cryptocurrency or South African rands to be bought or sold which will result in the corresponding market exchange rate to be shown on the form. Any manipulation or tampering with the exchange rate done by the client is impossible and not permitted. The exchange rate shown on the form is based on currency market prices and is of informational character. The final amount of South African rands or cryptocurrency exchanged will be determined at the moment once the funds have cleared into our bank account or after three confirmations in our wallet — less our fees and comissions.
By default the form sets an automatic mode of exchange whereby the customer agrees for his funds or cryptocurrency to be exchanged immediately after they have cleared and reflect into our account or wallet based at the market price at that moment. No further actions will be required from the customer. However the customer also has the option of accepting the exchange rate manually if it differs by more than 3% from the amount shown on the order form. In such cases, we will notify the customer by email when the market price has changed by more than 3% from the time of completing the order form to the moment when the customer’s funds have cleared into our bank account or wallet. The customer will then have the option of accepting or denying the exchange rate. By accepting the exchange rate at that time the client fully enters the exchange agreement and discharges his right of canceling the agreement. However in cases where the client denies the exchange request or fails to act upon it for a period days, then after 14 days we will return the funds to the customer less our fees and commissions as specified by our schedule of fees and commissions. In cases where there are questions or inaccuracies with the customer’s wallet or banking details, then coinpay, coinexpress.co.za or one of its employees or agents shall contact the customer by telephone or email — and only after the situation has been clarified shall the funds be returned to the customer. Should the customer accept the exchange rate, and that rate has not changed from the time of coinexpress.co.za sending the confirmation email and the customer accepting the exchange rate, then the exchange agreement will become legally binding and the exchange will be carried out. However should the cryptocurrency exchange rate fluctuate by more than 3% between the moment of us sending the exchange rate confirmation email and the customer accepting the rate, then we will be obligated to send a new exchange request by email indicating the new market exchange rate.
When opening an exchange request the customer is required to accept our terms and conditions by marking the appropriate field. And by opening such an exchange request the client agrees to the terms and conditions of our exchange services and it’s related fees and comissions which are published in our fee schedule.
The exchange agreement becomes legally binding once the full amount of South African rands to be sold, as indicated by the client on the order form, is reflected in our bank account which is disclosed after acceptance of the order form, and in particular referenced to the unique order number, or the full amount of cryptocurrency has been confirmed three times by the network in our wallet.
Coinexpress.co.za strives to carry out the order as soon as possible at but no later than 24 (twenty four) hours after the customer has completed the order.
The customer is required to provide his genuine and true details as specified in our terms and conditions when completing the order form. We reserve the right to suspend or cancel any such transactions where we are in doubt and further identify verification needs to be carried out. In such instances Coinpay pty or coinexpress.co.za cannot be held liable by the customer for losses sustained due market price fluctuations occurring during the verification process. The final market exchange price shall be interpreted as the price reflected at the time when any identity or anti fraud checks are completed.
By entering into the exchange agreement the client agrees to adhere to South African laws and regulations, any relevant international laws, and to adhere to our terms and conditions.
The customer shall not act maliciously against Coinpay pty, www.coinexpress.co.za or any of its agents.
The customer shall only make use of Coinpay pty and its cryptocurrency exchange service www.coinexpress.co.za in his own personal capacity and NOT on behalf of any third parties.
Coinpay pty reserves the right to suspend www.coinexpress.co.za and access to any of its services when certain system updates are needed or after a critical system failure has been detected which could negative affect any transactions or services.
Coinpay pty and any of its subsidaries or agents may at any time deny access or service to its clients when we have suspicions or receive any information that a customer is conducting any illegal activities or is in breach of our terms and conditions. In such instances any transactions will be put on hold pending further clarifications.
Coinpay pty, its subsidiary www.coinexpress.co.za and its agents reserve the right to contact the customer at any time by email or telephone in order to clarify amounts, volumes and values on the order form, to verify banking or wallet details, or to perform additional identity or anti fraud checks. In such instances, any transaction or future transactions by the client will be put on hold, and the legally binding market price and transaction time will be at the moment once all verifications have been completed successfully.
Coinexpress.co.za and its operator Coinpay pty obligates itself to do its best to ensure the continuous function or our services in accordance with our terms and conditions.
In any cases where there is interruption of services coinexpress and its operator Coinpay pty obgligates itself to inform the customer as soon as possible about the situation and its reasons.
Coinpay Pty, coinexpress.co.za or any of its directors or agents cannot be held liable for interruptions in services beyond our control including but not limited to hacking attacks, force majeure, power interruptions, server issues or any other network related issues.
Coinpay Pty, coinexpress.co.za or any of its directors or agents cannot be held liable for delays or interruptions in service resulting from failures on behalf of the client, in particular when false information was listed or mistakes were made on the order form in relation to the customer’s wallet or bank details, the customer transferred funds from an account not held in his name, the customer accidentally transferred his funds into a wrong wallet or bank account or when the customer failed to accept the exchange rate in confirmation mode.
We cannot be held liable for non performance for reasons beyond our control, and in particular but not limited to cases where we receive information from the bank, the financial services board, the police, a court or any government entity that the customer intends to or uses our services contrary to any laws or regulations.
We cannot be held liable for failing to inform the customer about interruptions or non performance of our service for reasons beyond our control and in particular in cases where the customer has not listed any contact details or where the customer listed incorrect or wrongful contact details such as his telephone number and email. We can neither held liable in cases where the clients fails to respond to our inquiries or is avoiding our attempts at contact.
We can further not be held liable for failure to transfer funds on behalf of our client for reasons beyond our control and in particular where the customer failed to list any contact details or where the customer listed incorrect or wrongful banking or wallet details, where the customer listed a wrongful email address, where the client does not respond to our inquiries or in any other ways evades our contact attempts.
We cannot be held liable for losses or damages suffered by any third parties due to a customer using our services directly or indirectly.
We cannot be held liable for any losses suffered by the customer wrongfully using his or her wallet or the customer’s wallet service interruptions.
We cannot be held liable for any losses or damages suffered by the customer who used our services contrary to any laws or our terms and conditions.
We cannot be held liable for any losses or damages suffered by the customer where he or she uses our online interface other than what it is intended for, where the customer tries to interfere with the source code or where the customer tries to interfere with the exchange rates in any way.
We cannot be held liable for any speculative losses suffered by the customer or where the customer did not achieve his expected investment goals when using our services.
We cannot be held liable by any third party associates of the customer or failures on part of the customer’s bank, power, internet connectivity, electronic communications or wallet service.
We cannot be held liable for permanent or temporary interruptions in access to our site or services resulting from the customer’s own interruptions in his or her power supply, internet service and connectivity, electronic communication or the customer’s banking services.
We cannot be held liable for interruptions to our site or services resulting from repair or maintenance works or any other force majeure.
By using our site and services you give us the right to process your personal data which is mandatory to render our cryptocurrency exchange services, for any complaint processes, to deny any exchange rate requests or your general rights in the exchange agreement.
In cases where we have reasons or information to believe that the customer is using our services for the purpose of criminal activities, in contravention to any laws or in breach of our terms of service, we may process your data for any investigative purposes.
For more information on how we store and process your data, please read our privacy page.
Your privacy is of utmost importance to us and we collect and store your data securely and protect it from unauthorized access.
If we have not rendered our services in accordance with our terms and conditions, you have the right to launch a complaint. You may launch such a complaint in the following ways:
By using the appropriate form found on our website www.coinexpress.co.za
By sending us an email to [email protected]
A complaint should include the following information:
the customer’s name and contact details which will aid us in identifying the transaction.
All details pertaining to the transaction
And the nature of your complaint.
Your complaint must also be in the English language and filed no later than 30 days after the incident involving the complaint. We have 30 days to respond to your complaint in the same manner as the complaint was filed unless the customer specifies otherwise. In certain cases we might require more time to respond and in such instances we will inform the customer within the 30 day period.
YOUR RIGHTS AS A CONSUMER
In accordance with the Consumer Protection Act, you have a right to a cooling off period. Therefore you have five days to cancel your order after we have received it preferably in writing by email, but before the exchange has taken place.
You being the consumer as defined by the Consumer Protection Act loose the right to the cooling off period after our services have been rendered and your funds have been converted. You as the consumer are informed of the finality of the exchange transaction in our terms of service and agree to this by clicking on the agree field in the order form.
The transaction also becomes final and you loose your right to the cooling off period when you chose the automatic exchange mode in the order form and agree to this by clicking on the appropriate check box.
You may also lodge a complaint as specified above.
Before using the Coinexpress Site, you should make sure that you fully understand and are aware of the risks involved in buying, selling or trading digital currencies. Digital currency markets can be extremely volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your assets and cause you to make losses. You should carefully assess whether your financial situation and risk tolerance is suitable for buying, selling or trading digital currency. You accept and agree that you are solely responsible for any decision to buy, sell, trade or otherwise hold or deal with digital currency.
You accept and agree that any communications, agreements, notices and/or any other documents (together “Communications”) relating your use of Coinexpress’s services will be provided to you electronically via e-mail and/or by posting them on the Coinexpress Site, or through any other form of electronic communication. You consent to receiving all Communications electronically
you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address
you assume full responsibility for providing Coinexpress with a valid and accessible email address to which any Communications may be sent, and for ensuring that email address and any other contact information is kept up to date. Any Communication sent to the email address you have provided to us will be deemed to have been received by you. You can amend your contact information by signing-in to your Coinexpress Account and accessing the Settings page.
Coinexpress implements and maintains the highest standards of Know Your Customer (“KYC”) processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing. While our industry is largely unregulated, Coinexpress voluntarily adheres to local and international compliance standards in relation to customer due diligence. To ensure we meet these standards, our customers are required to provide certain personal details and documents when making transactions via Coinexpress service (“Identity Verification”). The customer is thus required to complete the order form with his true genuine details. Coinexpress may also perform enhanced due diligence procedures in relation to your transaction. You accept and agree that you will remain subject to such procedures at all times.
Coinexpress reserves the right to, at any time:
restrict or suspend your Coinexpress transaction when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/ or enchanced due diligence, terminate your Coinexpress transaction if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or enchanced due diligence. You accept and agree that there may be delays in accessing your Coinexpress Account, or in carrying out transactions through your Coinexpress Account, while we undertake any Identity Verification and/or enchanced due diligence procedures.
As a regulated company operating in South Africa we are required to identify users on our platform. This ensures we remain in compliance with FICA laws in our jurisdiction in which we operate, something that is necessary for us to be able to continue to offer digital currency exchange services to our customers. Coinexpress collects and verifies information about you in order to: (a) protect Coinexpress and the community from fraudulent users, and (b) to keep appropriate records of Coinexpress’s customers.
All customers who wish to use Coinexpress Services are required to provide:
Full name and valid email address.
Verifying their identity by submitting the following information:
A SELFIE with his or her clear legible ID
A most recent bank statement reflecting customer’s address
Retention of information. Coinexpress is required to retain certain information and documentation obtained as part of the Identity Verification and enchanced due diligence procedures. These requirements apply even when you have terminated your relationship with Coinexpress. We reserve the right to keep such information and documentation for the required period and you accept and agree that information and documentation you provide to Coinexpress may be retained by us, including following the closure of your Coinexpress Account.
The fees applicable to transactions undertaken on the Coinexpress Site can be viewed on the Fees and Features page of the Coinexpress website. Coinexpress reserves the right to change our fees at any time and will update the Fees and Features page accordingly. In certain circumstances, and at our sole discretion, Coinexpress may notify selected customers of a specific fee change, where we consider a change to be of particular relevance to such customers.
Under no circumstances does any information contained on the Coinexpress Site, or provided to you through your Coinexpress or by any employee, agent or affiliate of Coinexpress, constitute financial, investment or other professional advice. You are solely responsible for any decision to store, buy or sell digital currency, and such decision should take into account your risk tolerance and financial circumstances.
You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through Coinexpress, and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.
EXPORT CONTROLS AND SANCTIONS
Your use of the Coinexpress is subject to international export controls and economic sanctions requirements. By undertaking any activity on the Coinexpress Site or through Coinexpress service, including but not limited to sending, receiving, buying, selling, storing or trading any digital currency, you agree that you will at all times comply with those requirements. In particular, and without any limitation to the generality of the foregoing, you may not use, or have access to any Coinexpress service if:
you are in or under the control of, or resident of, any country subject to United States embargo, UN sanctions, the HM Treasury financial sanctions regime, or if you are on the U.S. Treasury Department’s Specially Designated Nationals List or the U.S. Commerce Department’s Denied Persons List, Unverified List, Entity List, or HM Treasury’s financial sanctions regime; or
you intend to supply any acquired or stored digital currency, or transact with people or businesses operating in any country subject to United States embargo or HM Treasury’s financial sanctions regime, or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List, Entity List, or HM Treasury’s financial sanctions regime.
You must not use your Coinexpress service to undertake any of the activities or categories of activity set out in this section such as violation of any laws, statutes, ordinance or regulations, undertaking, facilitating or supporting criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking abusive activity, including but not limited to:
imposing an unreasonable or disproportionately large load on Coinexpress’s infrastructure, or otherwise taking any action that may negatively affect the performance of the Coinexpress Site or Coinexpress’s reputation, attempting to gain unauthorised access to the Coinexpress Site or any Coinexpress service, transmitting or uploading any material to the Coinexpress Site that contains viruses, Trojan horses, worms, or any other harmful programmes or transferring your Coinexpress service access or rights to your Coinexpress Account to a third party, unless as required by law or with Coinexpress’s prior consent. We also condone such illegal activities as paying in to or otherwise supporting pyramid schemes, Ponzi schemes, matrix programmes, “get rich quick” schemes, multi-level marketing programmes or high-yield investment programmes, fraudulent activity, including but not limited to taking any actions that defraud Coinexpress or a Coinexpress customer, or the provision of any false, inaccurate, or misleading information to Coinexpress, transactions involving items that may help facilitate or enable illegal activity; promote or facilitate hate, violence or racial intolerance; are considered obscene; or may be stolen goods or the proceeds of crime; transactions involving TOR markets, online gambling sites or mixers; sale or purchase of narcotics or controlled substances; intellectual property infringement. By using Coinexpress service, you confirm that you will not use it to undertake any of the above-listed Prohibited Activities or any similar or related activity.
DISCLAIMER OF WARRANTIES
The Coinexpress Site, your Coinexpress Account and any related products or services are offered on a strictly “as-is” and “where-available” basis and Coinexpress expressly disclaims, and you waive, all warranties of any kind, whether express or implied. Without limiting the generality of the foregoing, the Coinexpress Site, your Coinexpress Account, and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.
LIMITATION OF LIABILITY
In no event shall Coinexpress, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, or unavailability of the Coinexpress Site and/or your Coinexpress Account, including without limitation any damages caused by or resulting from any reliance upon any information received from Coinexpress, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a force majeure event, communications failure, theft, destruction or unauthorised access to Coinexpress’s records, programmes or services.
In no event will any liability of Coinexpress, its operating entities or any other affiliates (including their respective directors, members, employees or agents) arising in relation to your use of the Coinexpress Site or Coinexpress service, exceed (in aggregate) the fees earned by Coinexpress in connection with your use of your Coinexpress service in the six month period immediately preceding the event giving rise to the claim for liability.
The above limitations of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction. Because some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages, some of the limitations in this section may not apply to you.
To the maximum extent permitted by law, you agree to indemnify Coinexpress, its operating entities or any other affiliates (including their respective directors, members, employees or agents) against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly arising from your use of or conduct in relation to the Coinexpress Site and/or Coinexpress service, or from your violation of these Terms.
You and we agree to notify the other party in writing of any claim or dispute that arises in relation to the Coinexpress Site, Coinexpress service or these Terms, within 30 days of such claim or dispute arising. You and we further agree to attempt informal resolution of any Dispute prior to bringing a claim in any court or other body.
Governing law and jurisdiction. This agreement shall be governed by and construed in accordance with South African law, subject to any local mandatory rights you may have. You and we agree to submit all disputes, claims or controversies (including non-contractual Disputes, claims or controversies) arising out of or in connection with these Terms, or the breach, termination, enforcement or interpretation thereof (together, Disputes), to the non-exclusive jurisdiction of the courts of Poland.
Entire agreement. These Terms constitute the entire agreement and understanding between you and Coinexpress with respect to their subject matter and supersede any and all prior discussions, agreements and understandings of any kind between you and Coinexpress (including but not limited to any prior versions of these Terms). If any provision of these Terms, as amended from time to time, is determined to be illegal, invalid or unenforceable, in whole or in part, under any law, such provision or part thereof shall to that extent be deemed not to form part of these Terms but the legality, validity and enforceability of the other provisions in these Terms shall not be affected and everything else in these Terms will continue in full force and effect.
In the event any provision or part thereof of these Terms is determined to be illegal, invalid or unenforceable, that provision or part thereof shall be replaced by the parties with a legal, valid and enforceable provision or part thereof that has, to the greatest extent possible, a similar effect as the illegal, invalid or unenforceable provision, given the content and purpose of these Terms.
Assignment. You may not assign or transfer any of your rights or obligations under these Terms without Coinexpress’s prior written approval. You give Coinexpress your approval to assign or transfer these Terms in whole or in part, including but not limited to: (i) a subsidiary or affiliate; (ii) an acquirer of Coinexpress’s equity, business or assets; or (iii) a successor by merger.
Change of control. In the event that Coinexpress is acquired by or merged with a third party, we reserve the right to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.
Force Majeure. Coinexpress shall not be liable for any delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labour dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control.
Headings. Section headings in these Terms are for convenience only, and shall not govern the meaning or interpretation of any provision of these Terms.