BudgetCoinz, LLC Terms of Service & User Agreement
TERMS AND CONDITIONS OF USE
Email: [email protected]
Effective Date: October 19, 2020
1.1. General Requirements
The Services are intended solely for users who are 18 or older and who satisfy the criteria described in these Terms. You represent and warrant that you: (a) are of legal age to form a binding contract; (b) have not previously been suspended or removed from using our Services; (c) are not identified as a “Specially Designated National” by the Office of Foreign Assets Control; and (d) have full power and authority to agree to these Terms.
In addition, if you are accessing or using the Sites on behalf of a corporate entity, you represent and warrant that you have the right, authority, and capacity to accept these Terms on such entity’s behalf. BudgetCoinz reserves the right to modify, amend, or update these Terms at any time and for any reason.
1.2. Restricted Locations
You may not use the Services if you are located in, or a citizen or resident of any state, country, territory or other jurisdiction where your use of the Services would be illegal or otherwise violate any applicable law. You represent and warrant that you are not a citizen or resident of any such jurisdiction. You also may not use the Services if you are located in, or a citizen or resident of, any other jurisdiction where BudgetCoinz has determined, at its discretion, to prohibit use of the Services. BudgetCoinz may implement controls to restrict access to the Services. You will comply with this Section even if BudgetCoinz’s methods to prevent use of the Services are not effective or can be bypassed.
- DESCRIPTION OF SERVICES
BudgetCoinz provides users a platform that allows customers to buy or sell Bitcoin at a Bitcoin ATM Kiosk (“BTM”).
You agree that BudgetCoinz will not be held responsible for any losses arising from using the Site or Services.
3.1. BudgetCoinz Account
In order to use any Services, you must create and maintain an account through the Services (“BudgetCoinz Account”). You will: (a) create a unique password; (b) provide complete and accurate information; (c) promptly update any information you have provided so that the information is complete and accurate at all times; (d) maintain the security of your BudgetCoinz Account by protecting your password from unauthorized access or use; (e) promptly notify BudgetCoinz if you discover or suspect any unauthorized access or use of your BudgetCoinz Account or any security breaches related to your BudgetCoinz Account; and (f) be responsible for all advertisements that occur under your BudgetCoinz Account, and accept all risks of any authorized or unauthorized access to your BudgetCoinz Account.
As a Money Service Business (“MSB”) registered with the Financial Crimes Enforcement Network (“FinCEN”), we have certain duties to know our clients, keep records of the transactions, employ an Anti-Money Laundering (“AML”) Compliance Program, and have a dedicated Compliance Officer to monitor the transactions. We perform audits and tests of the veracity of our program and have a zero-tolerance policy when it comes to compliance. If you violate any portion of our compliance requirements, we reserve the right, at any time and for any reason, without explanation, to terminate your ability to use our services.
We collect and record certain information from every customer that completes a transaction. Depending on the size of the transaction and the nature of our relationship, we collect:
- Your First and Last Name
- SMS Phone Verification;
- A copy of your Driver’s License or government issued identification card;
- If required, your Social Security Number or Taxpayer Identification Number.
We leverage this information to perform OFAC and other watchlist screening of all customers and we file Currency Transaction Reports (“CTRs”) if a customer transacts over $10,000 worth of fiat currency in a rolling 24-hour period.
You authorize us, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide a taxpayer identification number, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying your Information against third party databases or through other sources. Prior to your use of the Services, you must provide all information we request. You acknowledge that we will analyze and validate your identity to determine whether you qualify to perform a transaction (“Verification Process”). Your use of the Services may be delayed during the Verification Process, and we disclaim responsibility for any loss, delay or other harm relating to the delay or denial. If you do not pass the Verification Process, or if you fail to provide any of the information required to perform a transaction, you may be denied access to the Services. If you believe your access to the Services has been wrongly denied, please contact us.
You acknowledge that BudgetCoinz is not responsible for the risks associated with cryptocurrency purchases, and you voluntarily assume and accept such risks in deciding to engage in cryptocurrency transactions at our BTM kiosks.
If you choose, or are provided with, a username, password or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.
4. RISK DISCLOSURES; ASSUMPTION OF RISKS, RELEASE OF BUDGETCOINZ
When buying or selling cryptocurrency, you are voluntarily choosing to engage in a sophisticated and risky financial transaction. You acknowledge that you are aware of the many risks associated with using a BTM, including but not limited to, risks of financial loss, legal risk, or theft.
You hereby irrevocably waive, release and discharge any and all claims, whether known or unknown to you, against BudgetCoinz, and its affiliates.
BudgetCoinz disclaims any and all liability for the contents of the advertisements on its site. You represent and warrant that you have the knowledge, experience, understanding, professional advice and information to make your own evaluation of the merits and risks.
You agree that you have had whatever opportunity you deem necessary to investigate the BudgetCoinz Services, laws, rules, or regulations that may be applicable to your Advertisements and that you are not relying upon any statement of law or fact made by BudgetCoinz relating to the legality of selling cryptocurrency. The foregoing disclaimers apply to the maximum extent permitted by la
- GENERAL SERVICE TERMS
6.1. Dispute Resolution
BudgetCoinz reserves the right to resolve issues and disputes at its sole discretion. Some issues include infringement of others’ rights, violation of laws and regulations, abnormal trades, and others not explicitly mentioned in the Terms. Users agree to bear the costs arising from the process of dispute resolution.
6.2. Accuracy of Information
Users must provide any information required by any screen displayed within the Services. You represent and warrant that all information you provide via the Services is accurate and complete in all respects including the contents of your advertisements.
6.3. Compliance with Law; Taxes
You are responsible for complying with all applicable laws related to your trading activities and other use of the Services, including without limitation any reporting obligations and payment of all applicable taxes. You will determine what, if any, laws apply to you based on your country of residence. BudgetCoinz has provided general information that outlines several countries’ licensing requirements for sellers of Bitcoin, however BudgetCoinz takes no liability for any of its user’s actions. BudgetCoinz recommends you consult with a lawyer prior to engaging in any transactions. Taxes may apply to your purchases or sales completed at the Bitcoin ATM. It is your responsibility to report and remit the correct tax to the appropriate tax authority. BudgetCoinz is not responsible for determining whether taxes apply to your use of our services.
6.4. Unacceptable Use or Conduct
You will not:
- Violate any law, regulation, contract, intellectual property or other third-party right, or commit a tort while using the Services;
- Use the Services in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from fully enjoying the Services, or that could damage, disable, overburden, or impair the functioning of the Services in any manner;
- Use any robot, spider, crawler, scraper, or other automated means or interface not provided by BudgetCoinz to access the Services or to extract data;
- Use or attempt to use another user’s account without authorization;
- Introduce any malware, viruses, or other harmful material to the site;
- Develop any third-party applications that interact with our Site without our prior written consent, or unless otherwise agreed;
- Provide false, inaccurate, or misleading information;
- Post content or communications that are libelous, defamatory, profane, obscene, pornographic, sexually explicit, indecent, lewd, vulgar, suggestive, harassing, hateful, threatening, offensive, discriminatory, bigoted, abusive, inflammatory, fraudulent, deceptive or otherwise objectionable; or
- Encourage or induce any third party to engage in any of the activities prohibited under this Section.
6.6. Service Fees
BudgetCoinz reserves the rights to charge service fees on users who use its services. It is in the discretion of BudgetCoinz to adjust the service fees charged to users using its services. Fees are non-refundable. You agree that we may charge, and you will pay, an exchange/transaction fee and a flat fee for each transaction you make. The transaction fee is calculated as a percentage of your total transaction amount. The flat fee is a fixed fee that does not depend on the size of your transaction. The transaction fee and flat fee are included in the exchange rate applicable to your transaction. By proceeding with the transaction, you agree to pay the exchange rate, including the transaction fee and flat fee, and you agree to the other terms applicable to the transaction as set forth in these Terms of Service. If you do not agree, you may not proceed with the transaction and must immediately discontinue your use of the ATM for that transaction.
- ELECTRONIC NOTICES
7.1. Consent to Electronic Delivery
You consent to receive electronically all communications, agreements, documents, receipts, notices, and disclosures (collectively, “Communications”) that BudgetCoinz provides in connection with this Agreement, your BudgetCoinz Account, or any Services. You agree that BudgetCoinz may provide these Communications to you by posting them via the Services, by emailing them to you at the email address you provide, sending them using an app or other messaging service to your account on the app or messaging service, and/or by sending an SMS or text message to a mobile phone number that you provide. Your carrier’s normal, messaging, data, and other rates and fees may apply to any mobile Communications. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy. You may also contact BudgetCoinz’s Support Team to request additional electronic copies of Communications or, for a fee, paper copies of Communications (as described below) by filing a support request at [email protected]
7.2. Withdrawal of Consent
You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to our Support Team by filing a support request at [email protected] If you decline or withdraw consent to receive electronic Communications, BudgetCoinz may suspend or terminate your use of the Services.
7.3. Updating Contact Information
It is your responsibility to keep your email address and/or mobile phone number on file with BudgetCoinz up to date so that BudgetCoinz can communicate with you electronically. If BudgetCoinz sends you an electronic Communication but you do not receive it because your email address or mobile phone number on file is incorrect, or you are otherwise unable to receive electronic Communications, BudgetCoinz will be deemed to have provided the Communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add BudgetCoinz to your email address book so that you will be able to receive the Communications BudgetCoinz sends to you. You can update your email address, mobile phone number, or street address at any time by filing a support request at [email protected]. If your email address or mobile phone number becomes invalid such that electronic Communications sent to you by BudgetCoinz are returned, BudgetCoinz may deem your account to be inactive, and you may not be able to complete any transaction via our Services until BudgetCoinz receives a valid, working email address or mobile phone number from you.
- PROPRIETARY RIGHTS
8.1. Ownership of Services
The Services, Site and all technology, content, data and other materials used, displayed or provided or received by you in connection with the Services or Site (“BudgetCoinz Materials”) together with all intellectual property rights in any of the foregoing are, as between you and BudgetCoinz, owned by BudgetCoinz.
You may use the BudgetCoinz Materials solely as authorized by BudgetCoinz in connection with your use of the Services for as long as BudgetCoinz permits you to continue to access the Services. Without limiting the foregoing: you will not (a) modify or create derivative works of the Site, Services or BudgetCoinz Materials, or any portion thereof, or any data or information received by you in connection therewith; (b) frame, display or incorporate the Site, Services or BudgetCoinz Materials in any website or any other work of authorship; (c) decompile, disassemble, reverse engineer or attempt to discover the source code of the Site, Services or BudgetCoinz Materials; or (d) otherwise use the Site, Services or BudgetCoinz Materials for any commercial or noncommercial purpose other than their intended purposes determined at BudgetCoinz’s discretion. “BudgetCoinz”, any product or service names, logos, and other marks used on the Site or BudgetCoinz Materials, or otherwise in connection with the Services, are trademarks owned by BudgetCoinz or its licensors. You may not copy, imitate or use them without BudgetCoinz’s prior written consent.
BudgetCoinz will own any feedback, suggestions, ideas, or other information or materials that you provide, whether by email, posting through the Services or otherwise (“Feedback”). You hereby assign to BudgetCoinz all right, title and interest to Feedback together with all associated intellectual property rights. You will not be entitled to, and hereby waive any claim for, acknowledgment or compensation based on any Feedback or any modifications made based on any Feedback.
8.4. User Content
When you agree to these Terms of Service, BudgetCoinz grants you a limited, revocable, non-exclusive, non-assignable license to use BudgetCoinz in compliance with these Terms; unlicensed use is unauthorized.
You hereby grant to BudgetCoinz a royalty-free, fully paid-up, sub licensable, transferable, perpetual, irrevocable, non-exclusive, worldwide license to use, copy, modify, create derivative works of, display, perform, publish and distribute, in any form, medium or manner, any text, information, data, materials, images, or other content you provide to BudgetCoinz using the Services or submit or post to the Site and that is not Feedback owned by BudgetCoinz (the “User Content”). You represent and warrant that: (a) you own the User Content or have the right to grant the rights and licenses in these Terms, and (b) the User Content and use by BudgetCoinz of the User Content as licensed herein does not and will not violate, misappropriate or infringe on the rights of any third party. BudgetCoinz may remove any User Content from the Site for any reason at BudgetCoinz’s discretion.
- DISLAIMER OF WARRANTIES
To the maximum extent permitted under applicable law, the site, the services, the BudgetCoinz materials and any product, service or other item provided by or on behalf of BudgetCoinz are provided on an “as is” and “as available” basis and BudgetCoinz expressly disclaims, and you waive, any and all other warranties of any kind, whether express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title or non-infringement or warranties arising from course of performance, course of dealing or usage in trade. Without limiting the foregoing, BudgetCoinz does not represent or warrant that the site, the services or BudgetCoinz materials are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components.
You acknowledge that your user data may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including software failures, viruses or other harmful materials, protocol changes by third party providers, internet outages, force majeure event or other disasters, scheduled or unscheduled maintenance, or other causes either within or outside our control. You are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through our services.
The disclaimer of implied warranties contained herein may not apply if and to the extent it is prohibited by applicable law of the jurisdiction where you reside.
You will defend, indemnify, and hold harmless BudgetCoinz, its Affiliates, and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers and contractors (collectively, “Indemnified Parties”) from any claim, demand, lawsuit, action, proceeding, investigation, liability, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to (a) your use of, or conduct in connection with, the Services; (b) any User Content you provide; (c) your violation of these Terms; or (d) your violation of any applicable law or the rights of any other person or entity. If you are obligated to indemnify any Indemnified Party, BudgetCoinz (or, at BudgetCoinz’s discretion, the applicable Indemnified Party) will have the right, in its sole discretion, to control any action or proceeding and to determine whether BudgetCoinz wishes to settle, and if so, on what terms.
- DISLAIMER OF DAMAGES
In no event will BudgetCoinz, its affiliates and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, profits or other business or financial benefit) arising out of or in connection with the site, the services, the BudgetCoinz materials, any performance or non-performance of the services, or any other product, service or other item provided by or on behalf of BudgetCoinz, whether under contract, statute, strict liability or other theory (including, for avoidance of doubt, any negligence of BudgetCoinz), even if BudgetCoinz has been advised of the possibility of such damages.
- LIMITATION OF LIABILITY
In no event will the liability of BudgetCoinz, its affiliates and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors arising out of or in connection with site, the services, the BudgetCoinz materials, advertisements found on the site, any performance or non-performance of the services, or any other product, service or other item provided by or on behalf of BudgetCoinz, whether under contract, statute, strict liability or other theory (including, for avoidance of doubt, any negligence of BudgetCoinz) exceed the amount of the fees paid by you to BudgetCoinz under this agreement in the twelve-month period immediately preceding the event giving rise to the claim for liability.
- DISPUTE RESOLUTION; ARBITRATION; WAIVER OF CLASS ACTION
All disputes, controversies or claims arising out of or relating to these Terms or the Services, will be resolved through confidential binding arbitration in the Court of Arbitration of the Michigan Chamber of Commerce and Industry
Each of you and BudgetCoinz disclaims the applicability of any and all of the Consumer Rules in your jurisdiction. By agreeing to these Terms of Service you are agreeing that (1) any rules, laws, or regulations governing “consumer” arbitrations are inapplicable, (2) arbitration of any dispute arising out of or relating to your use of the Services and (3) you specifically waive any right to arbitrate in any other location, including your hometown
With respect to disputes subject to arbitration pursuant to this section 13, both you and BudgetCoinz are giving up the right to litigate (or participate in as a party or class member) those disputes in court before a judge or jury.
- GOVERNING LAW
The interpretation and enforcement of these Terms, and any dispute related to these Terms or the Services, will be governed by and construed and enforced in accordance with the laws of Michigan without regard to conflict of law rules or that would cause the application of the laws of any other jurisdiction. You agree that BudgetCoinz may initiate a proceeding related to the enforcement or validity of BudgetCoinz’s intellectual property rights in any court having jurisdiction. You waive any objection to venue in any such courts.
If you violate any of these Terms, BudgetCoinz may, as it determines reasonably necessary to remedy or mitigate your violation, delete all or part of such information transmitted by you and suspend or cancel your account. BudgetCoinz shall in no event be responsible or liable for any damage incurred by the user as a result of an action taken by BudgetCoinz pursuant to this paragraph. Any right or remedy of BudgetCoinz set forth in these Terms is in addition to, and not in lieu of, any other right or remedy whether described in these Terms, under statute, at law or in equity.
16.2. BudgetCoinz Affiliates and Contractors
An “Affiliate” is, with respect to a legal entity, another legal entity that controls, is under common control with, or is controlled by the first legal entity. The Site and any Services may be operated or provided by BudgetCoinz, its Affiliates, or their respective contractors. To the extent that an Affiliate of BudgetCoinz, or contractor of BudgetCoinz or an Affiliate of BudgetCoinz, is operating or providing any Services, the Affiliate or contractor’s provision of such Services will be under terms identical to these Terms substituting the Affiliate or contractor’s name wherever BudgetCoinz’s name occurs in these Terms.
BudgetCoinz’s failure or delay in exercising any right, power, or privilege under these Terms shall not operate as a waiver thereof.
The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.
16.5. Force Majeure
BudgetCoinz will have no responsibility or liability for any failure or delay in performance of any Services, or any loss or damage that you may incur, due to any circumstance or event beyond the control of BudgetCoinz, including without limitation any flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction.
You may not assign or transfer any right to use the Services or any of your rights or obligations under these Terms without prior written consent from us, including by operation of law or in connection with any change of control. BudgetCoinz may assign or transfer any or all of its rights or obligations under these Terms, in whole or in part, without notice or obtaining your consent or approval.
Headings of sections are for convenience only and shall not be used to limit or construe such sections.
16.8. Statute of Limitations
You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Sites, or these Terms must be filed within one (1) year after such claim or cause of action arose or be forever barred.
16.9. Entire Agreement
These Terms constitute the entire agreement between you and BudgetCoinz regarding your use of the Sites, superseding any prior version of these Terms between you and BudgetCoinz with respect to the Sites. You agree that, except as otherwise expressly provided in these Terms, there shall be no third-party beneficiaries to these Terms. The section titles in these Terms are for convenience only and have no legal or contractual effect.
Your Comments and Concerns
The Services are operated by: BudgetCoinz.
All other feedback, comments, requests for technical support and other communications relating to the Services should be directed to [email protected]
 FinCEN Registration Number: 31000174856908, registered since April 18, 2018