This Agreement sets out the terms and conditions of the service on electronic currency sale provided by Zrx LTD OÜ legal entity (14488459), Address: Harju Maakond, Tallinn, Kesklinna linnaosa, Tartu mnt 70-24, 10144, Estonia, doing business as the onFOMO exchange. Using the services of the onFOMO exchange means the full acceptance of this Agreement by the User. In case of disagreement with the Agreement, the User shall not perform any transactions.
1. Definition of Terms and Conditions
The onFOMO exchange is a partially automated system located on the Internet at https://onfomo.com.
The Customer means a private or legal person willing to use the service provided by the onFOMO exchange who has agreed to all provisions stipulated in this Agreement. This Agreement will be governed by the law of the Republic of Estonia.
Payment units mean accounting units of the corresponding Payment systems determining a specified scope of rights of claim or some other rights arising from the agreement executed by the Payment systems and their customers.
Payment system means an online payments company or a money transfer company. Money transfer company works with individuals and businesses through a network of agents and financial institution customers and transfers official currencies of various governments.
Recipient Account Details mean number, wallet, email or any other indication of Customer account in the Payment system which is stated in the Customer Order for the onFOMO exchange to send the Payment units. The onFOMO account is personal and only its owner, i.e. the Client, has the right to use it (log in). Services obtained from onFOMO are for owner`s personal use, but not for a 3rd party.
Order means the information provided by the Customer via technical means of the onFOMO exchange in digital format indicating their intention to use the onFOMO exchange under the conditions proposed by the onFOMO exchange and stated in Order details.
2. Subject of the Agreement
With the help of technical means of the onFOMO exchange by way of making an Order, the Customer authorizes the onFOMO exchange for a compensation in its own name and at the Customer expense, receives and transfers the amount of the Payment units declared by the Customer and stated in the Order details provided by the Customer.
3. General Provisions and Terms
The administration of the onFOMO exchange is not responsible and does not cover losses caused by incorrect or unauthorized use of the onFOMO exchange, and user errors committed in completing the forms of transaction, which can lead to the transfer of funds to the account specified by mistake and also to delays in processing applications and payouts.
4. Uncontrolled circumstances
- The onFOMO exchange is not responsible for delays or failures in the handling of operations arising as a consequence of any problems in the telecommunications, computer and other systems; force majeure action of Payment Systems (block or closure of the accounts, freezing or holding of funds, denial of service); change of political regimes, civil strike; and actions of third parties, which are beyond the control of the onFOMO exchange.
- Sale operation of electronic currency exchange is considered completed after the transfer of the required amount by the onFOMO exchange to the account of the Customer.
- Sale operation is done manually and is a one-time transaction. It is designed in a way that a user first opens a trade order and enters his mobile phone to identify himself. It is given 20 minutes to complete an order. New users are prompted to fill in the information about themselves, including such info, but not limited to, as name, surname, address, occupation, source of funds. Existing users skip this step. Users are then asked to pay for the order. The corresponding payment amount will be pre-authorised by onFOMO from the users selected payment method. When the user gives onFOMO a credit/debit card, the pre-authorisation guarantees that the funds are available to pay for any charges incurred. Upon successful pre-authorisation, the user is prompted to verify his identity and submit the necessary identity verification documents. User may be asked to re-submit verification documents if any of them are found to be unsatisfactory. Existing users skip this step. Once identity verification is completed and successful; the user in on time in the 20 minute order window; the deviation of the rate of cryptocurrency is below 1% or the user accepts the new rate of cryptocurrency if deviation is more than 1%; and the trade is not interrupted by any of the unforeseen circumstances stated above, then onfomo.com exchange will treat this as a successful order. The pre-authorised amount will then be debited from user`s account. User`s purchased order (cryptocurrency) will be sent to the user`s account (cryptocurrency wallet).
- A pre-authorisation is a security guarantee for payment only. The pre-authorisation fund is not held by the onFOMO, the company who provide the credit card system or by the authorising bank. The pre-authorisation fund is held on your card by your own issuing bank. Pre-authorisation should be released by your issuing bank automatically, if not you will need to contact your home issuing bank
- According to the policy on the return of digitally delivered goods, the return of the transferred funds after the sale is not possible.
- Identity verification is mandatory and the onFOMO exchange has the right to stop the sale of electronic currencies, as long as the user does not provide their identity documents and does not set a user's identity.
- In case the amount of electronic money received is different from the onFOMO exchange transaction by more than 20%, the onFOMO exchange may unilaterally reject the Order.
- In case the Crypto Currency amount to be sent to client in the onFOMO exchange transaction differs from the market value for more than 1% between transaction start time and the time of transaction to be completed, the onFOMO exchange reserves the right to contact the customer and inform him about the new amount of Crypto Currency to be paid out. User is free to choose whether to accept the new amount of Crypto Currency, or cancel the order.
- In the implementation of the return, all commission costs for the electronic money transfer are withheld from the funds received from the Customer.
- In case of a delay in receipt or non-receipt of funds to or from the account specified by the User, the onFOMO exchange is not liable for any damage caused to the User. User agrees that in the event of delays all claims will be addressed to the respective Payment System.
- In the case of refusal to identify the failure and identification requirements during transaction, and in the case of the provision of misleading information during registration and verification, this will result in blocking of your account and denial of service. Thus, the funds on your account will be temporarily frozen to ascertain the circumstances causes the block.
- The onFOMO exchange administration reserves the right to temporary hold the funds transferred to it from the user attempted to any attacks on the server, as well as any attempts of hacking and cheating scripts on this website. The funds will be returned to the user via the same means of payment upon request.
- All information provided by the user in the process of sale is confidential and not disclosed to third parties. Exceptions: 3rd party service providers used by the onFOMO exchange for Anti Fraud purposes, the request of law enforcement, the court's decision, request the administration of one of payment systems.
- Using the onFOMO exchange, the Customer agrees that the liability of the onFOMO exchange is limited to the funds received from users for the execution of the transaction, the onFOMO exchange does not provide additional warranty and assumes no additional liability to the Customer.
- Investment in cryptocurrencies carries a high level of risk and may not be suitable for all investors. Clients may sustain a loss of some or all of client`s invested capital; therefore, client should not speculate with capital that client cannot afford to lose. Client hereby confirms that he is knowledgeable as for the above mentioned risks.
The warranty period for the services provided under this agreement is 48 hours from the moment of executing the subject of the agreement with the onFOMO exchange.
In case of not sending the funds within 48 hours by the onFOMO exchange to the Customer account specified in the Order (excluding weekends and public holidays), the Customer may request the cancellation of the contract and refund in full. The funds should be returned to the same mean of payment in case of order cancellation. In case of cancelling the application, return is made to the user within 24 hours.
In case of not sending the identity documents for client verification; refusal of verification; 1% rate deviation of cryptocurrency since the order submission at onFOMO and the unwillingness of the user to accept the new rate; the inability to complete the order within 20 minutes since opening a trade order; or unsatisfactory identity documents provided for verification and inability to provide other documents, return of funds is made to the user within 24 hours.
6. Resolution of Disputes
All disputes related to providing the Customer with sales transactions will be settled by the way of negotiations between the Customer and the onFOMO exchange administration based on the conditions of this Agreement. If you have a dispute or a complaint, you can contact us and we will handle it at our earliest convenience.
7. Form of the Agreement
The Customer and the onFOMO exchange acknowledge that the digital form of this Agreement is legally equal to the agreement executed in a written form.
8. Changes and amendments
The administration of the onFOMO exchange service reserves its right to make modifications and additions to the given agreement any moment unilaterally without a prior notice.
9. 3rd Party Systems
The End User shall consent to the following provisions:
- The onFOMO exchange uses third party services and such third party’s affiliates services which enable you to place monetary deposits and perform transfer of payments within Partners website by making use of your existing credit card (as and if available and applicable) (the “Service” and the “Third Party Service Provider”). The Services do not include any additional service, and such third party services do not include providing and/or depositing the applicable Cryptocurrency at your account.
- The onFOMO exchange may share and transfer (including cross border transfer) Personal Information to the Third Party Service Provider for the purpose of rendering the Services which will be made to Partners website via the use of your credit card. The Personal Information will be shared with the Third Party Service Provider after you elect to execute such monetary payments by using the Services of the Third Party Service Provider. For the purpose of this section Personal Information shall include information that identifies or may identify you, including the information submitted by you through the registration form when you subscribe to the website such as your E-mail address, password, country and city and/or information provided through social websites or any other identifying information provided by you while using the services of our website.
- In addition, we may transfer any Non-Personal Information provided by you through your use of the services on our website to the Third Party Service Provider in order to allow the Third Party Service Provider to perform preliminary examinations of Non-personal Information for the purpose of determining if you are qualified to use the services of such Third Party Service Provider (including the history of your transactions on the website which will be provided without any identifying information and solely for the purpose of performing the preliminary examinations).
- By accepting these terms, you represent that any and all information you provide to us is true and accurate. Any false or fraudulent information and/or use of the services rendered to you is prohibited.
- You are not obligated by law to provide Partner and/or the Third Party Service Provider with any Personal Information. You hereby acknowledge and agree that you are providing Partner and/or the Third Party Service Provider with Personal Information at his/her own free will, for the purposes of rendering the Services.
10. Termination Policy
You or we may suspend or terminate your account or your use of this Website at any time, for any reason or for no reason. Except for the withdrawal of the accumulated funds, you will not be entitled to any remedy for discontinuing the services, all subject to these terms and conditions of service and applicable laws and regulations. We reserve the right to change, suspend, or discontinue all or any aspect of this Website at any time without notice.
11. Cancelation Policy
You or we may terminate your account and services of this Website at any time, for any reason or for no reason. To cancel your services, please contact use.
- onFOMO may not make the Services available in all markets and jurisdictions, and may restrict or prohibit the use of the Services from U.S.A or foreign jurisdictions (""Restricted Locations""). If you are registering to use the Services on behalf of a legal entity, you represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and (ii) you are duly authorized by such legal entity to act on its behalf.
- Restricted Locations, we cannot provide our services to the residents of the following Countries/States
- United States
- Bosnia and Herzegovina
- Korea, Democratic People’s Republic of
Lao People's Democratic Republic
- Sri Lanka
- Arab Republic
- Saudi Arabia
- French Guiana
- Trinidad and Tobago
- You further represent and warrant that you:
- are of legal age to form a binding contract (at least 18 years old);
- have not previously been suspended or removed from using our Services;
- have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party;
- are not located in, under the control of, or a national or resident of
- any Restricted Locations, or
- any country to which the United States has embargoed goods or services;
- are not identified as a "Specially Designated National";
- are not placed on the Commerce Department’s Denied Persons List;
- will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.