Last Revised: 27/07/2018

These Terms of Service and any terms expressly incorporated herein (“Terms”) apply to any access to, or use of, any services made available by Txbit.io (“Txbit”) using the website www.txbit.io (the “Site”), mobile appolications, API , and to any other related services provided by Txbit (collectively, the “Services”).

By using any of the Services provided and made available by Txbit, you agree that you have read, understood and accepted all of the terms and conditions contained in this Terms of Use agreement, as well as our Privacy Policy and Consent Form which have incorporated the GDPR regulation.

  1. Agreement Conditions

    Txbit reserves the right to modify or change the terms and conditions of the agreement at any time and at its sole discretion. Txbit will provide notice of these changes by updating the revised Terms of Use on the webpage and changing the “[Last revised: ]” date on this page. Any and all modifications or changes to the Terms of Use will be effective immediately upon being announced on the website or released to users. As such, your continued use of Txbit’s services acts as acceptance of the amended agreement and rules. If you do not agree to any modification of these terms you must stop using the Services.

  2. Eligibility

    By registering to use a Txbit Account, you have affirmed that you are at least 18 years old and are an individual, legal person or other organization with full legal capacity to enter into this User Agreement between you and Txbit. If you are not, you and your guardian shall undertake all consequences resulting from your actions and Txbit shall have the right to cancel or freeze your account in addition to filing claims against you and your guardian for compensation.

  3. Prohibition of Use

    By accessing and using Txbit and any of its Services, you acknowledge and declare that you are not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List and its equivalent. Txbit maintains the right to select its markets and jurisdictions to operate and may restrict or deny its services to certain countries. The content of this Agreement shall not be excluded from the laws of the country under which the user belongs. Txbit maintains its stance that prohibited users are not to use or access Txbit and any of its Services.

  4. Description of Services

    Txbit provides an online digital asset trading platform (crypto to crypto) for products commonly known as cryptographic tokens, digital tokens or cryptographic currency. Txbit does not provide fiat (USD, EUR, JPY, etc.) trading capabilities on its platform and as such is not subjected to the stringent regulations that come with it. Txbit functions as a trading platform provider and is not a buyer or seller in trades made between traders. Txbit is also not a market maker. Traders must register and open an account with Txbit and deposit digital assets prior to commencement of trading. Traders may request the withdrawal of their digital assets, subject to the limitations as stated in the Terms and Conditions.

    Txbit strives to maintain the accuracy of information posted on its website however it cannot guarantee the accuracy, suitability, reliability, completeness, performance or fitness for purpose of the content through the website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content. Information on Txbit website can be subjected to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions. Txbit does not provide investment or advisory advice and will have no liability for the use or interpretation of information as stated in its website or other communication mediums. All users of Txbit must understand that there are risks involved in trading. Txbit encourages all users to exercise prudence and trade responsibly within their own means.

    While Txbit emphasises platform security to ensure the continuity and security of its services (announcements will be made in event of downtime/maintenance), it will be non-accountable to Act of God, malicious targeted hacking, terrorist attacks and other unforeseen circumstances. Txbit reserves the right to cancel, rollback or block transactions of all type on its platform in event of abnormal transactions. Txbit will not ask for any password from its users nor ask users to transfer funds that are not listed on its trading platform. Users are encouraged to exercise prudence in dealing with discounts or promotions that could lead to them getting scammed. While the list is non-exhaustive, you agree that Txbit will not be held responsible for any losses arising from the situations stated above.

    By using Txbit and any of its Services, you declare that all information to Txbit in connection with these Terms are true, accurate and complete.

  5. Txbit Account

    In order to use any Services, you must create and maintain an account through the Services (“Txbit Account”). To create or maintain your Txbit Account, or enable functions on your Txbit Account, you will be required to register using an email address and a strong password.

    1. You are responsible for maintaining the security and integrity of your own computers, software and digital interfaces, including the confidentiality of any login information associated with the Txbit Account you use to access our Services, and you are responsible for any consequences, loss or damage that you may incur due to your failure to maintain security or integrity in your equipment or digital interfaces, or confidentiality in your personal details, including Txbit Account information and log in information.
    2. If the security of your Txbit Account has been compromised, you must promptly notify Txbit of this in writing. Upon receipt of your written notice, Txbit will take reasonable steps to protect your Txbit Account including by suspending your account if necessary for that purpose.
    3. Txbit has a policy of not changing or amending an email address used to open, and linked to, a Txbit Account. This is to protect your identity and your privacy. You will need to ensure the email address you use to open a Txbit Account is an email address to which you will have continued access. Should it be necessary to amend the email address linked to your Txbit Account, you will need to contact Txbit directly.
    4. If you are unable to access to your Txbit Account because you have lost or are unable to use your login information, Txbit will not provide you with access to your Txbit Account until you have provided verification of your ownership of the account by answering questions based on Txbit Account information. The purpose of this verification process is to ensure that access to any Txbit Account is only given to the rightful owner of that account.
    5. Txbit may, in its sole discretion, limit the number of Txbit Accounts that you may hold, maintain, or acquire.
  6. Risk Disclosures, Assumptions of risk, and release of Txbit

    Trading cryptographic currency, cryptographic tokens and other digital rights or assets (“Tokens”), and use of other Services provided by Txbit, involves significant risks and potential for financial losses, including without limitation the following:

    1. The features, functions, characteristics, operation, use and other properties of any Token (“Token Properties”) and the software, networks, protocols, systems, and other technology (including, if applicable, any blockchain) (“Underlying Technology”) used to administer, create, issue, transfer, cancel, use or transact in any Token may be complex, technical or difficult to understand or evaluate.
    2. Any Token and its Underlying Technology may be vulnerable to attacks on the security, integrity or operation of the Token or its Underlying Technology (“Attacks”), including Attacks using computing power sufficient to overwhelm the normal operation of a blockchain or other Underlying Technology.
    3. Any Token, Token Properties or Underlying Technology may change or otherwise cease to operate as expected due to a change made to the Underlying Technology, a change made using features or functions built into the Underlying Technology or a change resulting from an Attack. These changes may include, without limitation, a “fork” or “rollback” of a Token or blockchain.
    4. Any Token may be cancelled, lost or double spent, or otherwise lose all or most of their value, due to forks, rollbacks, Attacks, changes to Token Properties or failure of the Token to operate as intended.
    5. Txbit may suspend or cease to support the transfer, storage or trading of any Token at any time at Txbit’s discretion. Other exchanges and service providers may do the same.
    6. Txbit may not support metacoins, colored coins or other Tokens, or their related side chains or other Underlying Technology that are based on a fork, enhancement, or derivative of a different Token or Underlying Technology (“Derivative Protocols”) even if the Derivative Protocol is based on a Token that is supported by Txbit. Other exchanges or service providers may do the same.
    7. Txbit may suspend or reject your transaction requests, suspend or cease support for Tokens, or suspend or terminate your access to the Services to comply with applicable laws or regulations or an order from law enforcement or other governmental authority, for other reasons as specified in these Terms or otherwise at Txbit’s discretion.
    8. You may be unable to withdraw Tokens prior to Txbit ceasing to support transfer of any such Tokens, resulting in the loss of any such Tokens remaining in your Txbit Account.
    9. Any Token may decrease in value or lose all of its value due to various factors including discovery of wrongful conduct, market manipulation, changes to Token Properties or perceived value of Token Properties, Attacks, suspension or cessation of support for a Token by Txbit or other exchanges or service providers, and other factors outside the control of Txbit.
    10. Any Token may decrease in value or lose all of its value due to legislative or regulatory activity, or other government action. Government regulation of Tokens is unsettled and rapidly evolving.
    11. Any Token may be lost if sent to the wrong address (for example but without limitation, if the address is improperly formatted, contains errors, or is intended to be used for a different type of Token).
    12. You may be prevented from sending a transaction request, or your transaction request or email may not be received by Txbit or the Services, due to hardware, software or services issues (including, without limitation, Internet and other network connectivity issues).
    13. Your transaction request or email to Txbit or the Services may be lost, intercepted or altered during transmission.
    14. Unauthorized third parties may access or use your Txbit Account and effect transactions without your knowledge or authorization, whether by obtaining the password to your Txbit Account, obtaining control over another device or account used by you in connection with any enhanced security measures enabled for your account, or by other methods.

    The risks described in this Section 6 may result in loss of Tokens, decrease in or loss of all value for Tokens, inability to access or transfer Tokens, inability to trade Tokens, inability to receive financial benefits available to other Token holders, and other financial losses to you. You hereby assume, and agree that Txbit will have no responsibility or liability for, such risks. You hereby irrevocably waive, release and discharge any and all claims, whether known or unknown to you, against Txbit, its Affiliates and their respective shareholders, members, directors, officers, employees, agents and representatives related to any of the risks set forth herein.

    You represent and warrant that you have: (a) the necessary technical expertise and ability to review and evaluate the security, integrity and operation of any Tokens that you decide to acquire or trade; and (b) the knowledge, experience, understanding, professional advice and information to make your own evaluation of the merits and risks of any Token or trade. You accept the risk of trading Tokens by using the Services, and are responsible for conducting your own independent analysis of the risks specific to the Tokens and the Services. You should not acquire or trade any Tokens unless you have sufficient financial resources and can afford to lose all value of the Tokens.

    Txbit’s decision to support transfer, storage or trading of any particular Token through the Services does not indicate Txbit’s approval or disapproval of the Token or the integrity, security or operation of the Token or its Underlying Technology. The risks associated with Tokens and trading Tokens apply notwithstanding Txbit’s decision to support a particular Token. Txbit does not provide trading advice, does not have any fiduciary duty to you or any other user and does not make any warranty about the suitability of any Token for trading or ownership by you.

  7. Responsible Use and Conduct
    1. By using the Site and accessing the Services, you agree to use the Services only for the purposes intended as permitted by these Terms, and any applicable laws and regulations.
      You acknowledge and accept that:
      1. accessing (or attempting to access) any of the Services by any means other than through the means Txbit provide, is strictly prohibited. You specifically agree not to access (or attempt to access) any of Services through any automated, unethical or unconventional means;
      2. engaging in any activity that disrupts or interferes with our Services, including the servers and/or networks on which our Services operate or are connected, is prohibited;
      3. attempting to copy, duplicate, reproduce, sell, trade, or resell our Services, is prohibited;
      4. you are responsible for any consequences, losses or damages that Txbit may directly or indirectly incur as a consequence of any activity undertaken by you on, or through the use of, the Site or the Services, that is in breach of these Terms or any applicable law or regulation;
      5. Txbit may provide various open communication tools on the Site, such as blog comments, blog posts, public chat, forums, message boards, newsgroups, product ratings and reviews, various social media services, etc. You acknowledge and accept that, Txbit does not pre-screen or monitor the content posted by users of these various communication tools, which means that if you choose to use these tools to submit or receive any type of content on our Site, then it is your personal responsibility to use these tools in a lawful, responsible and ethical manner. By posting information or otherwise using any open communication tools as mentioned, you agree that you will not upload, post, share, or otherwise distribute any content that:
        1. is illegal, threatening, defamatory, abusive, harassing, degrading, intimidating, fraudulent, deceptive, invasive, racist, or contains any type of suggestive, inappropriate, or explicit language;
        2. infringes on any trademark, patent, trade secret, copyright, or other proprietary right of any party;
        3. contains any type of unauthorized or unsolicited advertising; or
        4. impersonates any person or entity, including any www.txbit.io employees or representatives;
      6. Txbit has the right at its sole discretion to remove any content that it believes in its judgment does not comply with these Terms, along with any content that Txbit believes is otherwise offensive, harmful, objectionable, inaccurate, or violates any third party copyright or trademark. Txbit is not responsible for any delay or failure in removing such content. If you post content that Txbit chooses to remove, you hereby consent to such removal, and waive any claim you may have against Txbit;
      7. Txbit does not assume any liability for any content posted by you or any third party user of its Site. From time to time, Txbit may make third party website links and information available to you on its Site. Txbit does not control, endorse, or adopt any third party content and shall have no responsibility for third party content, including without limitation material that may be false or misleading, incomplete, offensive, indecent, or otherwise objectionable;
      8. in so far as information or content which is posted to Txbit by third parties, and which may be downloaded from Txbit is concerned, Txbit makes no representation about the safety, security, accuracy or quality of that information or content and does not supply that material to you in connection with our Services to you. Txbit is not liable for any damage or loss of data incurred by you or any other party which may result from the download of such third party content;
      9. you warrant that any content posted by you on the Site does not infringe any third party intellectual property rights, and you grant to Txbit a perpetual, irrevocable, worldwide, royalty-free, non-exclusive licence to reproduce, modify, adapt, translate, publish, publicly display and/or distribute such content as it sees fit;
      10. should your digital currency split or fork or require some other form of modification or alteration, Txbit will not perform or give effect to any split, fork, modification, or alteration on your behalf. You must withdraw the relevant digital currency from your Txbit Account and complete the relevant process for such split, modification or alteration required to be made;
      11. Txbit may, in its discretion, attempt to correct, reverse, cancel any order, trade or transfer in the event that Txbit discovers that there was an error in a trade or transfer, whether that error was by you, Txbit or a third party. You authorise Txbit to attempt that correction, reversal or cancellation as described. You acknowledge and accept that any such attempt may not be successful, and that Txbit does not bear any liability for the error or any correction attempt;
      12. you shall indemnify Txbit against all losses, damages, claims, liability, expenses, payments or outgoings incurred by or awarded against Txbit arising from:
        1. any breach of these Terms; and
        2. any act or omission by you (including any negligence, unlawful conduct or wilful conduct) relating to these Terms or the use of the your Txbit Account;
      13. Your liability to indemnify Txbit shall be reduced to the extent that such loss or damage was caused or contributed to by any act, omission, direction or negligence of Txbit including by its shareholders, directors, officers, employees, lawyers, agents, representatives, suppliers, or contractors;
      14. Txbit may, in its discretion, prevent you from immediately dealing with large amounts of digital currency that appear in your Txbit Account. Should this occur, Txbit will also contact you to confirm the provenance of, and your entitlement to, the digital currency. Txbit will immediately release the currency to you on satisfaction that the currency has not been received in breach of any applicable laws, including laws relating to anti-money laundering and counter-terrorism financing, and that you are otherwise entitled to the currency; and
      15. You warrant that you will not hold Txbit responsible to recover or replace digital currency, or compensate you for direct or indirect losses in the event of a hostile takeover or illegitimate forking of a digital currency. In the event of a hostile takeover of a digital currency or an illegitimate forking of a digital currency, Txbit is not required to but reserves the right to:
        1. review the blockchain and its associated digital currency;
        2. suspend your access to the Site, the Services and/or your Txbit Account if you receive a deposit of digital currency that does not appear to be legitimate;
        3. reverse any deposit of digital currency which is illegitimate; and
        4. restore your access to the Site, the Services and/or your Txbit Account once the deposit has been reversed from your Txbit Account.
  8. Exchange Orders and Trades

    This Section applies only when you use the Services to trade Digital Assets for another form of Digital Assets. Txbit does not purchase, sell, or exchange any Digital Assets on its own behalf.

    1. Authorization. When you submit a new order via the Services, you authorize Txbit to execute a transaction in accordance with such order on a spot basis and charge you any applicable fees (as described in Section 9 below).
    2. Independent relationship. You acknowledge and agree that: (a) Txbit is not acting as your broker, intermediary, agent, or advisor or in any fiduciary capacity, and (b) no communication or information provided to you by Txbit shall be considered or construed as advice.
    3. Trade confirmation. Once the Services execute your trade, a confirmation will be electronically made available via the Services detailing the particulars of the trade. You acknowledge and agree that the failure of the Services to provide such confirmation shall not prejudice or invalidate the terms of such trade.
    4. Market rates. If you select a market trade, Txbit will attempt, on a commercially reasonable basis, to execute the trade on or close to the prevailing market exchange rate, as defined via the Services. You acknowledge and agree that the exchange rate information made available via our Services may differ from prevailing exchange rates made available via other sources outside of the Services.
    5. Market volatility. Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any Digital Assets or Legal Tender, the actual market rate at which a market order or trade is executed may be different from the prevailing rate indicated via the Services at the time of your order or trade. You understand that we are not liable for any such price fluctuations. In the event of a market disruption , Txbit may do one or more of the following: (a) suspend access to the Services; or (b) prevent you from completing any actions via the Services, including closing any open positions. Following any such event, when trading resumes, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
    6. Trade Settlement. Subject to the terms and conditions in these Terms, we will use commercially reasonable efforts to settle trades on a spot basis within two (2) days of the date upon which users have agreed to execute a trade via the Services.
  9. Fees and Charges
    1. Txbit will charge you fees when a trade you have made is successfully realised. Fees are payable by both the buyer and the seller to a trade, calculated as 0.10% of the traded amount as follows:
      1. Buyer's fee payable to Txbit on a realised trade = amount traded plus 0.10%;
      2. Seller's fee payable to Txbit on a realised trade = amount traded less 0.10%.
    2. The fees payable by you to Txbit will be displayed to you at two separate times prior to the realisation of any trade being:
      1. the time when you first place an order for a trade (the pre-order stage); and
      2. the time when you confirm the trade (the confirmation stage).
  10. Privacy

    Your privacy is very important to us. Txbit has created a separate Privacy Policy in order to explain in detail how Txbit collects, manages, processes, secures, and stores your private information. Txbit's privacy policy forms part of these Terms

  11. Termination or Suspension of Use
    1. Your privacy is very important to us. Txbit has created a separate Privacy Policy in order to explain in detail how Txbit collects, manages, processes, secures, and stores your private information. Txbit's privacy policy forms part of these Terms
      1. breaching the terms of this agreement;
      2. breaching any law or legal right, including third party rights;
      3. engaging in any illegal activity including using the Services to conduct or further any illegal activity;
      4. engaging in fraudulent activity, including but not limited to any attempt by you to access or hack another user's account, or to impersonate Txbit;
      5. introducing any electronic malware or virus into the Site;
      6. violating the chatroom rules posted in the chatroom, which may change from time and time;
      7. behaving in an abusive or unreasonable way towards other users of the Services or Txbit staff;
      8. encouraging third parties to interact with the Services in any way without Txbit's prior written consent.
    2. If your Txbit Account contains an anomaly such as a negative balance, an imbalance between what ought to be in your account and what is actually in your account, or an insufficient amount to pay our fees, your Txbit Account may be suspended until the anomaly is resolved.
    3. If you receive notice from Txbit that your Txbit Account has been suspended, your right to use the Services will immediately cease for a period being, at minimum, 72 hours, unless otherwise advised.
    4. If your Txbit Account has a zero balance and has been inactive for a period of six months, Txbit reserves the right to suspend your account. If Txbit does not receive any communication from you, including via use of your account, for a period of twelve months, your account may be terminated.
    5. You may voluntarily close your Txbit Account at any time by:
      1. withdrawing your funds; and/or
      2. requesting that Txbit close your Txbit Account.
  12. Changes, Suspension and Termination of Services
    1. Txbit may, at its discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, all or any portion of any Services.
    2. Txbit may, at its discretion and without liability to you, with or without prior notice and at any time, temporarily suspend or permanently terminate your access to all or a portion of any Services.
    3. Txbit will not be liable for any losses suffered by you resulting from any modification of any Services or from any suspension or termination of your access to all or a portion of any Services. If and when Services resume, you acknowledge that Token valuations and exchange rates may differ significantly from the valuations and rates prior to such event.
    4. In the event of discontinuation of all Services or other termination of your right to access all Services: (a) all amounts payable by you to Txbit will immediately become due; (b) Txbit may delete or deactivate your Txbit Account and all related information and files in such account without liability to you; and (c) Txbit may cancel any open Orders or other transaction requests that are pending at the time of discontinuation or termination. In the event of discontinuation or termination of all Services or discontinuation or termination of transfer or storage Services for all or some Tokens, Txbit will use commercially reasonable efforts, unless prohibited in order to comply with applicable laws or regulations or by order of law enforcement or other governmental authority, to provide you with a period of 90 days to remove the affected Tokens from your Hosted Wallet.
  13. Disclaimer of Warranties

    TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, THE SITE, THE SERVICES, THE Txbit MATERIALS AND ANY PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF Txbit ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS AND TXBIT 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, TXBIT DOES NOT REPRESENT OR WARRANT THAT THE SITE, THE SERVICES OR Txbit 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 IN WHICH YOU RESIDE.

  14. Indemnification

    You will defend, indemnify, and hold harmless Txbit, 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 Feedback or 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, Txbit (or, at Txbit’s discretion, the applicable Indemnified Party) will have the right, in its sole discretion, to control any action or proceeding and to determine whether Txbit wishes to settle, and if so, on what terms.

  15. Disclaimer of Damages

    IN NO EVENT WILL TXBIT, 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 Txbit MATERIALS, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF Txbit, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY (INCLUDING, FOR AVOIDANCE OF DOUBT, ANY NEGLIGENCE OF Txbit), EVEN IF Txbit HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

  16. Limitation of Liability

    IN NO EVENT WILL THE LIABILITY OF TXBIT, 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 Txbit MATERIALS, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF Txbit, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY (INCLUDING, FOR AVOIDANCE OF DOUBT, ANY NEGLIGENCE OF TXBIT) EXCEED THE AMOUNT OF THE FEES PAID BY YOU TO TXBIT UNDER THIS AGREEMENT IN THE TWELVE-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.

  17. Governing Law
    1. The Site is controlled by Txbit. It can be accessed by most countries around the world. By accessing and using the Services on and associated with the Site, you agree that these Terms are governed by the laws of the the Netherlands.
    2. You and Txbit submit to the exclusive jurisdiction of the courts of the the Netherlands.
  18. Guarantee

    Txbit does not offer any express warranties of any kind concerning the supply of the Services. Warranties offered by Txbit are limited to those that are required by law.

  19. Severability

    Where any of these Terms are found to be invalid or unenforceable, those terms shall be severed from these Terms such that the balance of these Terms will remain in full force and effect.

  20. Force Majeure

    Txbit takes no responsibility or liability for any failure or delay in performance of any of its Services, or any loss or damage that you may incur, due to any circumstance or event beyond Txbit's control, 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.

  21. Assignment

    You may not assign or transfer any right to use the Services without Txbit's prior written consent. Txbit may assign or transfer any or all of its rights or obligations under these Terms, in whole or in part, by providing you with fourteen days' notice.

  22. Headings

    Headings are used in these Terms for convenience only and shall not be used to limit or construe these Terms.

  23. Entire Agreement

    These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Site or the Services. In the event of any conflict between these Terms and any other agreement you believe you may have with Txbit, these Terms will govern any dispute unless the other agreement expressly states that the other agreement supersedes these Terms.