Terms of use of the IEO Launchpad Platform

§ 1 General Provisions

  1. The object of these regulations (”the Regulations of the Platform”) is to set out the terms and conditions of using by the Users the IEO Launchpad platform run by BitBay within the framework of the Website (”the Platform”).
  2. All terms written in the Regulations of the Platform with a capital letter and not defined therein shall have the meaning given in the BitBay general regulations of rendering services (https://bitbay.net/en/terms-of-use-bitbay-estonia; “the BitBay Regulations”).

§ 2 Types and scope of service covered by the Regulations of the Platform

  1. The service rendered by BitBay to the User pursuant to the Regulations of the Platform consists in granting to the User access to the space within the Platform, where they can become acquainted with information regarding the offer of disposing of a specific token (utility token) (”the Token”) for the benefit of the User by a physical person, legal person or another organizational entity having the capacity for legal actions, indicated on the Platform (“the Seller”), in exchange for another cryptocurrency or FIAT currency as well as with other information provided on the Platform by the Seller.
  2. Offer of disposing of the Token may be connected with undertaking of the Seller (“the Project”).
  3. The User’s acquisition of the Token using the Platform takes place directly from the Seller.
  4. The offer of disposing of the Token as well as all other information that constitutes the basis for making the decision on the acquisition of the Token, including in particular the description of the Project, graphics, video material, the so-called white paper, the Seller’s privacy policy, the general terms of the Seller’s agreement and all information regarding the Project or the Seller (“the Content”) made available to the Users via the Platform comes exclusively directly from the Seller.
  5. The Platform also enables the User to enter via an active link the Seller’s website with the Content. All Content, which the active link refers to, transferring the User to the Seller’s website is owned by and comes exclusively from the Seller.
  6. BitBay in no way interferes in the Content provided by the Seller for the purpose of displaying thereof on the Platform unless BitBay receives reliable information that the Content infringes commonly effective provisions of law or the legal interest of third parties, in particular copyrights or personal interests.

§ 3 Terms of serices provision

  1. The Platform cannot be used for offering Tokens which are securities (i.e. so-called security tokens).
  2. BitBay runs no economic activities as an investment company, and it also does not run financial instruments’ trade, in particular the alternative system of financial instruments’ trade.
  3. Within the Platform activities, BitBay does not perform activities in the scope of brokering, in particular accepting and handing over of the orders of purchase or selling of financial instruments, investment advisory, offering financial instruments’ or rendering services connected with service or investment underwriting.
  4. Within the Platform activities, BitBay does not offer or receive any offers on it’s own behalf or on behalf of the Seller, does not transfer or accept any statement of will on their behalf or on behalf of the Seller, does not mediate in issues connected with the User’s share in the Project.
  5. BitBay bears no liability due to the decision of acquisition of the Token by the User with use of the Platform. Upon accepting the Regulation of the Platform the User declares that they are acquainted with the risk connected with investing in cryptocurrencies, in particular in the tokens and are aware that one of the elements of this risk is the possibility of loss of all of the invested financial means as a result of changes in the cryptocurrency exchange rate.

§ 4 Conditions for concluding and terminating the agreement

  1. In order to use the Platform the User must accept the Regulations of the Platform, the BitBay Regulations and perform the User’s identification on the terms stipulated in the BitBay Regulations.
  2. The BitBay Regulations shall apply to remaining issues related to conclusion and termination of the agreement.

§ 5 Protection of personal data and privacy policy

  1. BitBay can use the Platform for performing the activities of processing the User’s personal data for the benefit of the Seller, including in particular for collecting such data and transferring it to the Seller. In such case the Seller is the administrator of the User’s personal data and processing of personal data takes place in a way stipulated by the Seller in their privacy policy or in an equivalent document.
  2. All other issues related to principles of processing personal data used and processed by BitBay in connection with using the Platform by the User are governed by the Privacy Policy.

§ 6 Liability

  1. The User bears sole liability for damages of the User that occurred as a result of using the Platform by the User in a way incompatible with the provisions of the Regulations of the Platform, the BitBay Regulations or binding provisions of law.
  2. The liability for reliability, truth, completeness and linguistic versions of the Content as well as correct and safe functioning of the smart-contract that is the basis of functioning of the Token offered by the Seller is borne exclusively by the Seller. BitBay does not perform any verification of credibility, correctness and completeness of any information arising out of the Content as well as BitBay does not perform verification of the Seller, Project or the offered Token in any scope, including in particular BitBay does not verify the Seller’s solvency and experience, the Project’s business plan and market perspectives as well as correctness and safety of the smart-contract that constitutes the basis for creation of the Token.
  3. The liability for Seller’s failure to perform or improper performance arising out of the agreement concluded between the Seller and the User with the use of the Platform shall be borne exclusively by the Seller.
  4. The principles of the BitBay Regulations shall apply to the remaining scope of the BitBay liability for the operation of the Platform.

§ 7 Intellectual property

  1. The User must not use the Content for commercial purposes without the Seller’s express consent, in particular the User must not print, copy, modify, download to a disc or to another data carrier as well as to put in the text of other studies (e.g. in the paper documents, press publications, websites, blogs and social media) the Content except if it is admissible under the effective provisions of law or if the Seller allows such possibility.
  2. The provisions of the BitBay Regulations shall apply to the content, graphics or another type of materials on the Platform that belong to BitBay.

§ 8 Complaints procedure

  1. All complaints regarding the relationship of the User with the Seller, including in particular regarding the purchase offer of Cryptocurrency, Content and Project should be addressed directly to the Seller according to their mode. BitBay shall not mediate in the service of the complaints procedure.
  2. The principles of the BitBay Regulations shall apply to the remaining scope of the complaints procedure connected with the operation of the Platform.

§ 9 Transaction security procedures

  1. BitBay shall bear liability for transaction safety only with regard to the elements of transactions that take place only with direct use of the Platform.
  2. The principles stipulated in the BitBay Regulations shall apply to the remaining scope of the transaction safety procedures connected with the operation of the Platform.

§ 10 Amendments of the Regulations of the Platform

  1. BitBay shall be entitled to amend the Regulations of the Platform and the amendments become effective on the date indicated by BitBay. The deadlines for the amendments implementation may not be shorter than 7 days from the time when the Regulations of the Platform amendment is made available on the Website. The User will be notified of an amendment to the Regulations of the Platform by e-mail sent to the e-mail address assigned to his User Account.
  2. If the amendments are not accepted in order to terminate the agreement, the User should immediately notify BitBay, in writing or by email, at the following email address: [email protected]

§ 11 Governing law

  1. The law applicable for the agreement between the User and BitBay, the object of which are the services rendered by BitBay within the framework of the Platform on terms stipulated in the Regulations of the Platform is the law of the Republic of Estonia.
  2. All and any disputes related to the services provided by BitBay shall be resolved by competent courts of law. The User who is a consumer has the opportunity to use the out-of-court method of dealing with complaints and pursuing claims The information on how to access the abovementioned dispute resolution procedures is available at the EU ODR Internet platform, available at the following Internet address: http://ec.europa.eu/consumers/odr/.
  3. The Regulations of the Platform do not define in any way the rights and obligations or any other elements of the legal relationship existing between BitBay and the Seller. The content of the legal relationship between BitBay and Seller shall be stipulated only by a separate agreement determining the rights and obligations of BitBay and Seller.
  4. The Regulations of the Platform in no way affects the terms of using the Website by the Users in the scope that does not refer to the Platform stipulated in the BitBay Regulations.
  5. The provisions of the BitBay Regulations shall apply to the cases unsettled in the Regulations of the Platform with the reservation that the provisions of the BitBay Regulations regarding the relationships between the Users shall apply to the relationships between the User and the Seller.