Terms of Service

Article 1 Purpose of Terms and Conditions

This terms and conditions is intended to define the conditions and requirements for the use of C2C services (hereinafter referred to as “Service”) provided by HUOBI Co., Ltd. (hereinafter referred to as the “Company”).

Article 2 Definitions

“Service” refers to

Article 3 Provision of Service

1. The Company shall ensure that the members are able to use the “Service” on the Company’s web page (https://), post the transaction policy of the “Service” on the web page, and, in principle, provide the “Service” for 365 days a year, and 24 hours a day, in accordance with the transaction policy.
2. The Company may conduct periodic maintenance when necessary for the provision of the “Service”, and the periodic maintenance time shall be as announced on the service provision screen. For the purpose of a better service, the “Company” may display various notices and management messages related to the use of the “Service” in its service for the members, or send it directly to the member via e-mail or SMS.

Article 4 Restriction and Termination of Use of Service

1. The Company may restrict the use of the “Service” if a member is believed to have violated the obligations of this terms and conditions, or interfered with the normal operation of the “Service”.
2. The Company may restrict the use of the “Service” and make a request for a corrective action if a member has performed any of the following. If not corrected or repeated the violation despite the corrective action request, the contract for use of “Service” may be cancelled.
   • If Article 11 (Obligations of the member when using the Service) of HUOBI’s terms and conditions is violated.
   • If corresponds to the reasons outlined in Article 12 (Restrictions on Use of Service) of HUOBI’s terms and conditions.
   • If a member gives permission to transfer, distribute, and use his/her web, application, and other application program for the “Service” to others for a monetary exchange.
   • If a member uses the web, application, or other application program of another person that has been transferred or distributed as in Article 4(2)(3).
   • If a member is related to a crime or financial incidents such as voice phishing, or if there is a reasonable doubt about his/her relevance.

Article 5 Member’s Obligation When Using the Service

1. The members shall not engage in any of the following acts when using the “Service”.
   • Using someone else’s name without permission
   • Using other members’ accounts
   • Transferring data such as investment information, quotation, accounts, transaction history, balance, etc. obtained by using this “Service”, or hacking, to another person
   • Infringement of intellectual property rights such as copyrights, etc., of the Company or other third parties
   • Acts that damage the reputation of the Company and other third parties, or disrupt the business activity
2. Notices about the changes in each of the following are provided in advance through the HUOBI bulletin board, etc., and the members must check them.
   • Notices on service updates and changes
   • Notices on reflection of HUOBI policies
   • Other emergency notices related to the above
3. The members must abide by the instructions, policies (transaction policy, etc.), guides, etc., for the use of the “Service” of HUOBI.

Article 6 Immunity

1. The Company shall not be liable for any consequences arising from any programs created by the member for the purpose of using the “Service”, and the member shall solely be responsible.
2. The Company shall not be liable for any damages caused by the disruption or interruption of the “Service” caused by the computer disorder, communication disorder, or other natural disasters.
3. The Company shall not be liable for the errors such as unprocessed orders, or not concluded orders resulting from sudden changes in quotations, order overruns, partnered company’s processing errors, and etc.
4. If the Company receives various complaints including claims for damages or lawsuits from a third party other than its members in connection with any illegal activity or violation of this terms and conditions by a member, that member shall indemnify the Company with his/her own responsibility and expense, and compensate for all damages incurred to the Company.
5. The Company shall not be liable for any damages caused by the member’s computer status, communication line problem, malfunction of computer equipment, or other causes of the member.

Article 7 Change of Terms and Conditions

1. The Company may, if necessary, change the terms and conditions to the extent that it does not violate the related laws such as the laws relating to the regulation of the terms of use, promotion of information and communication network utilization and information protection, and “Privacy Act”. At this time, the Company shall notify the members of the changed contents and effective date 7 days prior to the effective date. However, in case of a change of the terms unfavorable to the members, the member shall be notified 30 days prior to the effective date.
2. When the Company notifies the changed terms and conditions, if the member fails to make a separate declaration by the day before the effective date or show no intention to refuse the changes, members shall be deemed to have agreed to the changed terms and conditions.
3. If the member disagrees with the application of the changed terms and conditions, the Company cannot apply the changed contents, and the member may terminate the contract for use. If there is any special circumstance where the existing terms cannot be applied, the Company may terminate the contract for use.

Article 8 Effect and Valid Dates of Terms and Conditions of Use

This terms and conditions is valid only when the member agrees to its contents, and shall remain in effect until terminated due to the termination of “Service” by the member or the Company.

Article 9 Regulations Other than Terms and Conditions

1. The matters not specified in this terms and conditions shall be governed by the terms and conditions of the HUOBI and related laws and regulations. The matters not specified in the relevant laws shall be subject to the general customs.
2. The Company may have separate operating policies, usage guidelines, and individual terms and conditions.
3. In the event of a conflict between this terms and conditions, and the terms and conditions of HUOBI, this terms and conditions shall take precedence.

Article 10 Others

1. The members are advised to be aware that investments in cryptocurrency may result in partial or total loss, and to determine the investment amount based on the possible loss. The validity and legitimacy of the information related to the sales of the cryptocurrency shall be confirmed, and any liability for loss arising therefrom shall be borne by the member, and the Company shall not be held liable.
2. The Company shall take measures to ensure the accuracy of the information to the best of its ability, but does not warrant for the accuracy of the information provided. Due to the inability to control the reliability and availability of the internet, the Company shall not be held liable for and direct or indirect losses caused by distortion of information, internet delay or failure, or not receiving the notification or information due to link failure.
3. The Company may prohibit the use of this website, or freeze accounts if unlawful or suspected illegal transaction (such as money laundering, smuggling, bribery, or any other illegal activity) is found. Also, the Company has the right to hold the person concerned responsible for any liability arising from the relevant government or financial supervisory body.
4. The use of this website for malicious price manipulation, improper trading or other illegal trading activities is, in principle, prohibited. In the event that such unlawful conduct is discovered, the website shall take preventive and protective measures such as warnings, and restrict transactions and accounts for such malicious price manipulation. The Company shall have no liability arising therefrom, and has the right to hold the person concerned responsible.

Article 11 Settlement of Disputes and Jurisdiction

This terms and conditions shall be governed by the laws and regulations of the Republic of Korea, and regardless of the nationality and residence of the member, the governing law for the settlement of disputes shall be the laws of the Republic of Korea. If a dispute between the parties is not settled and there is a need for litigation, the competent court shall follow the Civil Proceedings Act.

Additional Clause

Article 1 (Effective Date)

This terms and conditions will be effective as of November 1, 2018.