OTC TERM OF SERVICES (here referred to as this “Agreement”) is a supplement to the USER AGGREEMENT of BW.com (www.bw.com) (hereafter referred to as “this Website”) and is applicable to the OTC Trading Service of this website (https://www.bw.com/en/#/otc/trade/buy/usdt). The User Agreement and other terms of this website is also applicable to all users. Please read and thoroughly understand this agreement before proceeding further operation in this website. Proceeding the further operation in this website or use OTC trading are deemed to that you have read, understood and agreed to this agreement. This Agreement may be modified, altered or updated by this Website at any time without prior notice to you. You should check frequently to confirm that your understanding of this Agreement is timely and accurate. After any effective date of any modification, change or update, if you continue to use any of the services on this website, you are deemed to have accepted the new, modified or updated agreement.
1.1 OTC Trading: BW.com provide a service for over-the-counter digital assets trading, which you can create sell order/purchase order for sell or buy digital assets with the merchant who has intention to trade. All users must ensure that the source of OTC transaction funds is legal and reliable.
1.2 OTC Trading Rules: This includes user agreements, OTC trading rules and other agreements or terms, implementation rules, descriptions, announcements, etc, that published and subsequently published on all of this website and the OTC trading page.
1.3 Digital Assets: Generally refers to non-monetary assets with certain value in the form of electronic data. In this Agreement, Digital Assets specifically refers to specific digital assets such as QC, BTC, ETH and USDT that are permitted to be traded between users on this website.
2. Usage Specification and Requirement
2.1 You should ensure you have the appropriate right to purchase or sell the digital assets on OTC page. You cannot purchase or sell other things except digital assets on OTC page. Your sell order, purchase order and the information you posted, shall comply with the relevant laws and regulations of your sovereign country or region and the requirements of the OTC trading rules, and does not infringe the legitimate rights and interests of any third party.
2.2 When you post advertisements for purchasing/selling or you accept purchase/sell order which means you agree and accept the showed price and quantity of the purchase/sell order. Once you create or accept, the trading price will be locked. The buyer and seller cannot add any fee in this transaction. In the trading process, the digital asset within this transaction will be hosted in the website, until the seller confirm the payment and click “confirm” button on OTC trading page.
2.3 You should make payment according to the valid payment details provided by seller on OTC page. The payment method is chosen by you and the counter party including but not limited like online bank, Alipay, Wechat Pay, etc. The disputes caused by you use payment methods other than OTC trading page provided, there will be no related with this website and this website will not assume any responsibility.
2.4 When you sell or purchase digital assets on OTC trading page, you must be carefully confirm with the sort of the digital asset, price, amount or payment requirement and other important matters, verify information, payment account of your or the receiver. If the payment account is not your own account, you are solely responsible for the legal consequences of this action. Your relationship with the receiver is not related to this website.
2.5 You shall maintain the benign competitive digital assets trading market, shall not interfere any transaction and activity and do not interfere the operation of this website.
2.6 If you interfere or disrupt the normal trading environment on OTC trading, based on the safe trading environment we need, this website will close the related orders, restrict the use of the account or other related actions.
2.7 You should comply by the principle of honesty, ensure that the information you publish is legal and compliant, true and valid, and fulfill your trading commitments during the transaction.
2.8 You should pay taxes in accordance with the laws and regulations of your country or region.
BW.com provides free services for the legal currency trading platform services provided to you, and the future platform may provide fee-based services. If there is a fee, the specific fee for the platform announcement or announcement will prevail.
4. Digital Asset Transaction Dispute Resolution
4.1 If the buyer fails to make payment within time limit, the seller can apply for an appeal. If order is canceled after arbitration, it cannot be overturned or changed.
4.2 If there is a dispute between the seller and the buyer, either one can submit appeal in this website. This website will release the disputed digital assets to owner according to the terms of the transaction, the evidence of payment and the relevant provisions of the User Agreement of this website.
4.3 If there is a transaction dispute, the buyer shall provide proof of payment within 24 hours in accordance with the requirements of this website, including screenshot of transfer, serial number and related information. The information disclosure is subject to the above-mentioned purposes as we deem it is necessary, including but not limited to the buyer's contact details, login and transaction records and/or any details and records on this website.
4.4 Providing fraudulent information or documents in a dispute, or making a claim in a false manner, or attempting to force a transaction to be biased towards oneself is considered a violation of this Agreement.
5. Responsibility Statement and Liability Exemption
5.1 This website only provides you with OTC trading services. You understand that the information published on OTC trading page is user-published and may be risky and flawed. This website will ensure the legal rights and good experience of your OTC trading as much as possible by establishing relevant inspection and monitoring systems in accordance with the law. Meanwhile, in view of the fact that OTC trading are characterized by a large amount of information and real-time information changes in the information network environment, this website cannot review the information to be purchased after the sale and the transaction information thus obtained, and you should be cautious.
5.2 Based on the particularity of digital asset trading, you need to pay special attention to the risk of anti-money laundering, understand the identity of your counter party according to the requirements of the KYC principle, otherwise you may face the risk of asset freezing due to the suspected crime of the counter party.
5.3 If the information you published on the OTC trading page constitutes a breach of contract, the website may immediately delete, block or dispose of the information published according to the corresponding rules. The loss of assets and profits directly or indirectly caused by your action will be borne by you.
5.4 If you violate the relevant laws and regulations, or violate OTC trading rules in using OTC trading service, this website has the right to restrict or freeze your account or account assets, and take other reasonable measures to prevent illegal actions.
5.5 When your actions may cause damage to the website (including direct economic losses, loss of business reputation and compensation for external payments, and indirect economic losses such as disbursement, attorney fees, legal fees, etc.), you shall compensate for all of the above losses on this website. If your actions cause the website to be claimed by a third party, this website may recover all losses from you after you have assumed the obligation to pay the third party.
Asset Legality Commitment
I/The company promises the source and use of the assets are legal, which is not fund raised from public in violation of the regulations. The assets meet the requirements of relevant anti-money laundering laws and regulations. BW Technology Limited is entitled to require the individual/company to provide evidence of the legality of the source and purpose of the assets and has the right to investigate the source, use and legality of the assets. I/The company is willing to cooperate for the investigation.
I/The company will strictly abide by the above commitments. If I violate the legal commitment of the source and purpose of the assets, BW Technology Limited is entitled to restrict the individual/company from withdrawing the assets according to law and I /The company bears all the losses and legal liabilities caused.
BW.com reserves right of final interpretation of this Agreement.