1. General provisions

1.1. “Mynteq Trade OÜ” (hereinafter referred to as “the Company”) is on-line platform on trading (including storage and carriage) coins (investment and collectors) and bullions (bars of precious metals such as silver, gold, platinum only) between Clients (Participants of Platform).

1.2. On-Line Trading Platform (hereinafter referred to as “the Platform”) is a software program on web pages, developed and owned by the Company, provided corresponding trading services on licensed basis. The License details:
1.2.1. Deposit virtual currency wallet operator, issued on 21.03.2022.
1.2.2. Virtual currency exchange operator, issued on 21.03.2022.
1.2.3. Certificate of Registration in Entities Engaged in Precious Metals and Precious Stones, D-825-310.
1.3. This Terms & Conditions (hereinafter referred to as “the Agreement”) is an Agreement between the Company and registered clients regulated all and any relations and issues between them (trading, legal, financial, intellectual, personal data etc.), including but not limited to all and any additional supplements, documents and information referenced in the Agreement.
1.4. The Parries of the Agreement (the Company and clients (all and any) agreed that all and any terms, provisions and conditions of the Agreement is obligatory to them.
1.5. The Company sets that during registration on the Platform (for creation of profile) and during verification the identity, any person, who wants to became a client of the Platform for all or any providing services (hereinafter referred to as “the Client”) such person Check the Box, and by this action the Client confirmed and agreed for the following statements that shall be considered by the Company as:

a) the Client freely speak, read and understand English in written;
b) the Client has carefully and closely studied the Agreement with all supplements and referenced information;
c) the Client is fully informed, agreed and accepted with the provisions and conditions of the Agreement, clear being aware, understand and taking all conditions of the Agreement;
d) the Client agreed to conclude the Agreement with the Company on proposed and fixed provisions on voluntary basis.

1.6. The Client also shall Check the Box during Transaction Procedure with the same abovementioned meanings.

 

2.Service Description

2.1. Sale – possibility to sale any available registered asset “the Company” through the Platform for any price defined by the Client – Buyer “the Company” on conditions, provided by the Agreement.
2.2. Buying – possibility to buy any available registered trading asset of another Client through the Platform for the price defined by the Seller “the Company” on conditions, provided by the Agreement.
2.3. Storage – possibility to keep available registered asset temporarily for further actions on conditions, provided by the Agreement. Additional services (can be provided by the Platform together with general services fixed above):
2.4. Carriage – shipping of bought asset by courier post services on conditions, provided by the Agreement.
2.5. Assortment – possibility to find application on sale, buying of asset by the Platform of one or any concrete types for making further actions on conditions, provided by the Agreement.

 

3.Registration of the Clients

3.1. Person Data. The Platform askes for general identification Data for every person (natural or legal) wants to be the Client.
3.1.1. Potential client shall fill on-line form with personal data during registration procedure.
3.1.2. Every person (either Client or not) shall guarantee and confirm providing to the Platform the correct data nevertheless before or after registration.
3.1.3. The Platform can demand from person wants to be the Client any document, information, data that would help to identify such person or confirm given information. On own decision, the Platform can request person wants to be the Client to provide abovementioned document, information, data fixing in concrete form: original, notary certified copy, scanned copy etc.
3.1.4. Personal data of every person (either Client or not) given to the Platform shall be regulated by the Privacy Policy fixed at the following link
3.1.5. The Platform shall have the right to to refuse to register any person (legal or natural) as the new Client without indicating the reasons. The Platform shall guarantee that such possible register refusal in any case will be grounded on significant reasons not disclosed.
3.2. Concluding the Agreement.
3.2.1. After successful ending of the registration procedure, the Platform will propose to person wants to be the Client to read closely the Agreement (the Terms & Conditions, all and any additional supplements, documents and information referenced in the Agreement) and in case of agreed with the provisions and conditions of the Agreement, clear being aware, understanding and taking all conditions of the Agreement – Person can Check the Box in corresponding point. And that action shall be considered by the Parties and any third party as signing of the Agreement by the Client.
3.2.2. The Agreement shall come into force in the same working day during working hours of the Company when the Profile of corresponding Client shall be created shall be accepted by the Platform acting and can be terminated according the provisions of the Agreement.
3.3. Creating Profile. The Platform shall create Profile to the Client only in case of corresponding Check the Box concerning the Agreement by such person.
3.3.1. The Profile of the Client shall correspond to the following conditions:
a) is personal and belonged only to the Client;
b) the Client can have only one Profile.

3.3.2. The Client shall receive Email from Mynteq.com with confirmation of registration completition.
3.3.3. Together with creating Profile the Platform generates unique code for strong authentication of the Client, based on personal data of the Client (including but not limited to password made by the Client personally etc.) and Personal office.
3.3.4. The Platform can request the Client to periodically update the his personal information.
3.4. Personal office – the Client personal space within the Platform upon completion registration, displayed all transactions, ordered and provided services of the Client and having cooperation means Client – Client (through the Platform).

 

4.Trading activities of the Client.

For every providing services, the Platform shall take fee.

4.1. Sale

4.1.1. The Client can register on the Platform for sale any asset trading by the Platform (coin, bullion) on the following conditions:
a) the Platform is trading of such type asset and is ready to register concrete asset proposed by the Client;
b) the Client is real sole official owner of such asset and having corresponding legal confirmation of the property rights to such asset (and is ready to show this confirmation to the Platform);
c) the Client really possessing such asset and is ready to pass it to the Platform / Buyer;
d) the Client shall guarantee that such asset shall not be under encumbrances, pledge, arrest or other limitation of property rights.

4.1.2. The price of all and any asset can be defined (estimated):
a) directly by the Client personally;
b) proposed by the Platform as fair market valuation (possibly renewed automatically every 2 (two) minutes) with adding markup estimated and fixed by the Client in fix amount;
c) proposed by the Platform as fair market valuation (possibly renewed automatically every 2 (two) minutes) with adding markup estimated and fixed by the Client in interest to fair market valuation. In cases, provided by the points b), c) of the clause 5.1.2. of the Agreement – clear and final price shall be estimated after making correspondent consent by the Buyer.

4.1.3. Details of proposed asset with data, fixed in the clauses 5.1.1., 5.1.2. of the Agreement shall be fill by the Client trough his Personal office.
4.1.4. All negotiations between Seller and potential Buyer shall be conducted only through the Platform receiving and sending messages by their Personal offices.
4.1.5. Consent of the Seller to sell concrete asset to the concrete Buyer (and existence of corresponding agreement between the Clients) shall be fixed by the Seller in his Personal office only after receiving consent of the Buyer with reference to the Personal office of the Buyer.
4.1.6. The selling procedure shall consist of the following steps:
a) the Seller shall fix in his Personal office necessary information for trading (already registered asset, price, period of trading, own banking requisites and any other information he shall consider essential);
b) the Seller shall fix place of actual location of asset and mean of passing this asset to the Buyer;
c) the Seller shall confirm all above mentioned trading details for the Platform;
d) the Platform shall make available such selling proposal in “Trading” Section;
e) the Seller shall directly conduct negotiations with potential Buyer(s);
f) the Seller shall fixe trough his Personal office consent and agreement of Buyer to buy concrete asset on concrete conditions;
g) the Buyer shall send to the Platform corresponding Payment order with making corresponding payment to the Platform;
h) the Seller and the Buyer shall confirm in absence of any claims, conflicts and disputes between them, each in his own Personal office.

4.1.7. Sale of asset shall be made (considered as such by the Platform) only after:
a) making agreement between the Seller and the Buyer on all essential conditions of trading transaction that shall be confirmed by the making consent by the Buyer and making consent by the Seller; and
b) receiving corresponding payments for asset by the Seller;
c) receiving corresponding trading fee by the Platform;
d) confirmation by the Seller and the Buyer in absence of any claims, conflicts and disputes between them (to each other) by corresponding Check the Box of both trading party.

4.1.8.The Seller shall have the right to change options of selling, defined in the points a), b) clause 5.1.6 of the Agreement or withdraw concrete assets from a sale, only until making consent of the Buyer according the clause 5.1.5. of the Agreement.

4.2. Buying

4.2.1. The Client can buy on the Platform any registered asset on conditions agreed with the Seller.
4.2.2. Buying of assets shall be made according to the provisions of the Agreement.
4.2.3. The Buyer can see the real location of any asset (on possession of the Seller or the Platform) and shall fix further actions with corresponding asset:
a) to carriage of such asset to desirable place (even to the name of any other person as recipient of asset) according the provisions of the clauses 4.5.-4.7. of the Agreement;
b) to carriage of such asset to the Platform office for:

(i) personal receipt of asset;
(ii) storage of asset;
(iii) next selling of asset.

4.2.4. The Buyer shall make consent to the Seller for buying concrete asset through his own Personal office.
4.2.5. The Buyer – natural person shall pay to the Platform during 5 (five) minutes after making consent to the Seller for buying concrete asset 2 (two) % from the total price of such asset by credit card as guarantee fee, otherwise the consent of the Buyer shall be considered as invalid. In case of change options of selling or withdraw concrete asset from a sale by the Seller, the Platform shall return guarantee fee to the Buyer in full amount.
4.2.6. The Buyer shall have the right to refuse form buying concrete asset, only until making consent of the Seller according the clause 5.1.5. of the Agreement.

4.3. Storage

4.3.1. Any Client can order on the Platform Storage services of his registered asset on condition that such asset is already received and keeping by the Platform.
4.3.2. For providing storage services the Client shall send to the Platform corresponding request.
4.3.3. Receiving and starting storage can be execute only after receiving corresponding fee by the Platform.

4.4. Carriage

4.4.1. Any Client having available registered assets can order on the Platform carriage of asset to any EU place according to his instructions through his Personal office.
4.4.2. Carriage shall be provided by the Platform according to the tariff and fee of the corresponding courier company, otherwise expenses for carriage shall be agreed by the Seller and the Buyer directly.
4.4.3. After making selling the asset, being in the Seller actual possession, the Seller shall pass such sold asset to the Buyer during 3 (three) calendar days by means, previously fixed in the selling options as set in the point b) clause 5.1.6. of the Agreement. In this case, the Seller bears full liability for dispatch corresponding assets to the Buyer.
4.4.4. After making selling the asset, being in the possession of the Platform, the Platform shall pass such sold asset to the Buyer during 3 (three) calendar days by mean, previously agreed with the Buyer. The Client agrees and confirms that corresponding carriage document, issued by the carrier (post or currier company etc.) shall be considered as duly execution of carriage obligations by the Platform. In this case, the Platform bear liability for timely dispatch corresponding asset to the Buyer, but shall no bear any liability for carriage of such asset to the Buyer.

4.5. Assortment

4.5.1. Any Client or person, not registered as the Client and having Guest Access, can order the Platform to providing following sorting:

a) to find proposal of buying asset;
b) to find proposal to selling asset.

4.5.2. For providing assortment the person shall send to the Platform corresponding request.

5.Payment conditions

5.1. The Client can make payments only to another Client (s) and only in Euro.
5.2. Payments can be made by /to:

a) banking card;
b) bank account;
c) payment services account.

5.3. All payments from any and all Client to any and all Clients shall be made through the Platform as Guarantor of trading.
5.4. The Platform shall make payment to the Client – Recipient of funds on the following conditions:
5.4.1. The Client – Buyer – natural person shall pay to the Platform during 5 (five) minutes after making consent to the Seller for buying concrete asset 2 (two) % from the total price of such asset by credit card as guarantee fee.
5.4.2. The Client – Buyer – legal person shall make to the Platform payment in full agreed amount of concrete trading asset price (natural person – rest of payment) and the fee of the Platform for providing services during 48 (forty-eight) working hours (of the Buyer time zone) from the receiving of the consent of the Seller to sell concrete trading asset, otherwise the consent of the Buyer shall be considered as invalid.
5.4.3. The amount of the Platform fee for providing services, fixed in its user platform section related to the service.
5.4.4. Simultaneously with making payment, the Payer shall send to the Platform the Payment order, with full correct and valid banking and financial details necessary for making payment.
5.4.5. In case of non-making payment by the Client – Payer – natural person according to the clause 6.4.2. of the Agreement, paid guarantee fee shall not be returned to the Buyer and shall be shared in equal parts (on 1%) between the Seller and the Platform.
5.4.6. Submitting the Payment order to the Platform shall be considered as Consent of the Payer to such payment.
5.4.7. The payment to the Recipient of funds shall be made by the Platform:

a) 24 (twenty-four) working hours of the Platform time zone after receiving payment in full agreed amount of concrete trading asset price AND receiving corresponding fee for providing services; AND
b) 24 (twenty-four) working hours of the Platform time zone after receiving the Payment order with full correct and valid banking and financial details necessary for making payment. In case of neglect execution of point b) clause 6.4.7. of the Agreement, the Platform during one banking day shall ask corresponding Client to provide outstanding information and shall wait it during one banking day otherwise corresponding payment shall be return to the Payer during next one banking day from ending said waiting period (except real banking and transfer commission). Action made on a banking day but not during banking hours, shall be considered as made on the nearest banking day.

5.4.8. The Company/ Platform shall not be responsible for term of funds credit to the Recipient because of acting international banking procedures.
5.4.9. In case providing by the corresponding applicable KYC and /or AML procedures, acting rules and law, before executing a Payment order, the Platform shall have the right to require the Client – Payer to provide confirmation of the lawfulness of the origin of funds related to the Payment order. In case the Client failed to submit such confirmation, the Platform shall have the right to refuse to execute such Payment order with notifying the Payer on this decision and the Platform shall transfer funds back to the Payer on conditions provided in the clause 6.4.5. of the Agreement.
5.4.10. The Platform shall submit corresponding financial confirmation of made payment to both Clients (Payer and Recipient of funds).
5.4.11. If the Payer and the Recipient shall mutually agree to cancel transaction after making payment by the Payer, the Platform shall return received payment on conditions of withholding 50 (fifty) % of corresponding fee for providing services.
5.5. VAT on trading services shall be taxed and paid only according to the applicable law as applied to the tax residence of one or both parties of trading transaction. The Platform in every concrete case (of trading asset) shall determine necessity of VAT taxation and shall be Tax Agent on the VAT taxpayer.
5.6. The Payer agrees to pay additional 2 (two) % of banking fee in case of making payment of full agreed amount of concrete trading asset price by banking card.
5.7. All banking and another transfer commission, related to the payment shall be made by the Payer. The fee of the Platform for providing services shall be include payment commission.
5.8. The Parties agree and confirm that the Company shall have the right to provide payment procedure to /through the Platform in concrete type of virtual (crypto) currencies. In case of establishment corresponding technical means in the Platform, the Company will amend the Agreement according the clause 11.2. of the Agreement.

 

6. Limitation of asset operations

6.1. The Platform shall have the right to block any trading operation with asset, planning by the Client on the following of the grounds (having reasonable doubt OR sufficient legal confirmations and proof):

a) proposed asset is not trading by the Platform;
b) proposed trading asset is not corresponding description and features fixed under it registration;
c) the Client is under law restrictions and limitations (nevertheless the law area);
d) the Clients assets, property rights are under restrictions and limitations (nevertheless the law area);
e) the Client submitted misleading information on identification procedure or in updating procedure;
f) the Client acting on behalf and in favor of the Beneficial owner corresponding the points c), d) clause 7.1. of the Agreement;
g) registered asset really owned or will be owned (according future trading action) by the Beneficial owner corresponding the points c), d) of the clause 7.1. of the Agreement;
h)the Client has no property rights (even as representative of the Beneficial owner) to asset registered at the Platform as its own;
i) the Client failed to provide confirmation the lawfulness of the origin of funds related to the Payment order when it is necessary in compliance with KYC and /or AML corresponding applicable procedures, rules and law;
j) asset or funds of the Client has illegally nature according the provisions of international money laundering law;
k) the Client use the Platform services for any illegal purposes according the international and national applicable law on condition of availability of sufficient legal evidence;
l) the Client use the Platform services in a way which causes losses, responsibility, or other negative legal consequences or damage to third persons or to the Platform;
m) the Client has several Profiles on the Platform belonged personally to him (not to his Thruster or Beneficial owner) even if such Client acting as the Beneficial owner through another Client – as representative;
n) the Client providing to third persons false, misleading, or incorrect information about the Platform and cooperation with the Platform;
o) the Client in any other manner breach the provisions of the Agreement;
p) according to the official order or decision of competent authority received by the Platform.

6.2. The Platform before blocking trading operation on any abovementioned ground can request the Client to submit the Platform additional documents and information helping the Platform to make final decision concerning blocking trading operation.
6.3. In case of making a final decision on blocking trading operations the Platform shall inform in written the Client about it during one working day and in the period of working hours.
6.4. In any case, if ground being the cause of making the final decision on blocking trading operation is disappeared or ceased (with receiving corresponding sufficient confirmation) the Platform can provide such trading operation.

 

7. Intellectual property

7.1. Intellectual property of the Company / Platform according to trading activities, providing in the Agreement shall include:

a) all patents, patent applications and registrations, trademarks, trade mark applications and registrations, copyrights, copyright applications and registrations, trade names and industrial designs, domestic or foreign using by the Client;
b) all trade secrets, know-how, inventions using by the Client;
c) all computer systems and application software, including without limitation all documentation relating thereto and the latest revisions of all related object and source codes therefor, using by the Client;
d) all schedules, certificates, technical documentations, licenses, permissions, formula and drawings, using by the Client;
e) any other information, objects and assets, having real or potential commercial value because of unknowing / lack of such information, objects assets by third persons in legal grounds.

7.2. The Client agree and confirm that all and any intellectual property, established, created, developed, received by the Platform/the Company during acting of the Agreement shall be and shall be considered by the Client and by all and any third persons as the Intellectual property belonged to the Platform/the Company and as private property of the Platform/the Company with all existing rights, privileges and benefits granting to the owner. All and any intellectual property objects shall be considered as private intellectual property of the Platform/the Company from the moment of creation of such intellectual property objects.
7.3.The Platform /the Company shall give to the Client the right to use the intellectual property of the Platform only in volume necessary for receiving corresponding services by the Client according the clause 8.2. of the Agreement.

 

8. Warranty and Liability

8.1. The Client and the Company shall confirm its rights and ability for execution of the Agreement in full provisions.
8.2. The Parties shall guarantee that all their actions related to the execution of the Agreement will comply with the applicable law.
8.3. Any guilty Party of the Agreement shall reimburse to another Party all and any losses, damages, fines, and other sanctions applied to the second Party due to non-observance, violation, non-fulfilment, improper fulfilment of the Agreement by the first Party. Reimbursement of damages and losses does not release the Party from fulfilment of the Agreement and/or elimination of breaches.
8.4. The Parties agree and confirm that liability between the Company and the Client shall be limited only by actual damages and the loss of profit shall not be covered. The Liability between the Clients for non-performance or improper performance of mutual agreements and trading options / provisions shall include either actual damage and loss of profit.
8.5. The Company /Platform shall not be liable for next occasions:

a) when the Platform temporarily (but not longer than for 24 (twenty-four) hours) limited technical access to providing services due to repair, development and other similar technical procedures, on case of written informing the Client at least for 2 (two) calendar days in advance;
b) because of neglect protection by the Client of security elements associated and possessed by him and as a result disclosure of such individual security elements to third persons;
c) actions or omission of third persons;
d) any disagreement and conflicts between the Clients;
e) loss of asset, dispatched by the Platform or by the Seller;
f) lack of conformity of asset, dispatched by the Seller;
g) non-fulfilment or improper fulfilment of trading options and provisions by one or some Clients in favor of another Client(s).

8.6. Nevertheless, the provisions of the clause 9.5. of the Agreement, the Platform shall assist in any possible way to the Client whose rights have been violated in the restoration procedure.
8.7. In case of arising and existing any disputes, differences, conflicts, claims, problems, related to the concluding, execution, acting, completion, interpretation, violation, making invalid, null and void of the Agreement, the Party having the claims shall transfer to other Party the official Claim with detailed statement and the grounds of the position. The Party which has received such Claim should consider it and shall reply on the Claim within 3 (three) working days from the moment of its official reception.
8.8. In case of impossibility of settlement of any dispute, according to the clause 9.7. of the Agreement, such dispute shall be finally settled in the Vilnius Court of Commercial Arbitration in accordance with its Rules of Arbitration.

The number of arbitrators shall be 1 (one).
The place of arbitration shall be Vilnius.
The language of arbitration shall be English.
The law of the Republic of Lithuania shall be applicable to the dispute.

9. Commercial correspondence

9.1. The Client shall confirm (sign) any and all documents by his electronic means, indicated in his Profile.
9.2. In all cases, directly provided by the Agreement, and any other notification, confirmation and another commercial correspondence concerning the Agreement, shall be performed in writing and shall be recognized as duly and properly performed, if delivered by / or to the messenger defined by the Client in his registration form and fixed in the Profile of the Client.
9.3. Commercial correspondence concerning the Agreement shall be performed in English. Information in other languages shall be translated into English and signed by competent translator.
9.4. Scanned copies of documents, passed in accordance with provision of this Section of the Agreement, shall have the legal force of the original and shall be obligatory to the Parties in the execution of this Agreement.
9.5. The Company/Platform shall have the right to require the Client to send the certified copy of any document during 7 (seven) calendar days by courier post, necessary for execution of the Agreement.

 

10. Acting, amendments and termination of the Agreement

10.1. The Agreement shall come into force on the same working day during working hours of the Company when the Profile of corresponding Client shall be created /shall be accepted by the Platform according to the corresponding applicable KYC / AML procedures, acting and can be terminated according to the provisions of the Agreement.
10.2. The Company can unilaterally change and /or amend the provisions of the Agreement on following procedure:
10.2.1. The Company shall send to the Client written notice with proposed changes and amendments of the Agreement at least for 15 (fifteen) calendar days to date of such changes and amendments will enter into force.
10.2.2. The Client received such notice can:

a) accept such changes and amendments by sending corresponding notice to the Company;
b) refuse of accept such changes and amendments by sending corresponding notice to the Company;
c) ignore such notice (not replying to the Company) that shall be considered as accepting of such changes and amendments.

10.2.3. In case of acceptance by the Client proposed changes and amendments – renew Agreement shall come into force on date fixed in the written notice of the Company.
10.2.4. In case of refusal of acceptance by the Client proposed changes and amendments, the Agreement shall be considered as terminated on a date fixed in the written notice of the Company.
10.2.5. The Client can terminate the Agreement in any period by sending to the Company written notice.
10.3. The Platform close (delete) the Profile of the Client during 10 (ten) calendar days from the moment of termination notice receipt with information the Client that shall be considered as termination of the Agreement.