Terms of Service & Use

Last Updated: August 16, 2016

This is a contract (the “Agreement”) between you and SFOX, Inc. (“SFOX,” “us,” “our,” or “we”). By signing up to use an account through sfox.com or any associated websites, APIs, or mobile applications (collectively, the “SFOX Site”) or by using the SFOX Site, you agree that you have read, understood, and accept all of the terms and conditions contained in this Agreement. If you do not agree to any part of the Agreement, you may not use the SFOX Site or the Services (as defined below).

1. SFOX SERVICES AND USE

1.1. SFOX Services. Through your SFOX account (“SFOX Account”) and the SFOX Site you are able to buy and sell bitcoin and have access to trading algorithms, in addition to certain other services that may be provided by SFOX from time to time, including, among other things, account management tools, general news and information, trading alerts, market data including price and analytics, and educational information (collectively, the “Services”). When using the Services to buy or sell bitcoin through your SFOX Account, you are directly buying from, and directly selling to, SFOX. SFOX does not offer exchange or clearance services.

1.2. Eligibility. You must be 18 years old to use the SFOX Site or the Services and represent that you are of such age in doing so. If you are using the Services on behalf of a legal entity, you further represent and warrant that the legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, and you are duly authorized by such legal entity to act on its behalf.

1.3. Permitted Use. You agree and acknowledge that you will not use the SFOX Site or the Services in connection with any unlawful or otherwise undesirable activity (as determined by SFOX in its absolute and sole discretion), including but not limited to dealing in counterfeit goods, gambling, money laundering, or drug activity.

1.4. Limited License. We grant you a limited, nonexclusive, nontransferable license, subject to the terms of this Agreement, to access and use the SFOX Site solely for approved purposes as permitted by SFOX from time to time. Any other use of the SFOX Site is expressly prohibited and all other right, title, and interest in the SFOX Site is exclusively the property of SFOX and its licensors. You agree you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the SFOX site or its related content, in whole or in part. “SFOX” and “sfox.com” and all logos related to the Services or displayed on the SFOX Site are either trademarks or registered marks of SFOX or its licensors. You may not copy, imitate or use them without our prior written consent.

1.5. Electronic Consent. You agree and consent to receive electronically all communications, agreements, documents, notices and disclosures (collectively, “Communications”) that we provide in connection with your SFOX Account and your use of the Services. We will provide these Communications to you by either posting them on the SFOX Site, emailing them to you at the primary email address listed in your SFOX profile, communicating to you via instant chat, and/or through other electronic communication such as text message or mobile push notification. You understand and agree that if SFOX or its agent sends you an electronic Communication but you do not receive it because your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, SFOX will be deemed to have provided the Communication to you.

2. CREATING AN SFOX ACCOUNT

2.1. Registration. In order to use any of the Services, you must first register through the SFOX Site and provide certain information. SFOX may, in its absolute and sole discretion, refuse to allow you to establish an SFOX Account.

2.2. Privacy Policy. We strive to take all reasonable steps to protect your personal information, however, we cannot and do not guarantee the security of any information or data you disclose to us online. SFOX is based in the United States and the information we collect is governed by U.S. law. By accessing or using the SFOX Services or otherwise providing information to us, you consent to the processing and transfer of information in and to the U.S. and other countries. Please see our Privacy Policy (our “Privacy Policy”) for more information.

2.3. Identity Verification. In order to use certain features of the Services and to help the government fight the funding of terrorism and money laundering activities, you may be required to provide SFOX with certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding your bank account (e.g., financial institution, account type, routing number, and account number). In submitting this or any other personal information as may be required, you verify that the information is accurate and authentic, and you agree to update SFOX if any information changes. You hereby authorize SFOX to, directly or through third parties make any inquiries we consider necessary to verify your identity and/or protect against fraud, including to query identity information contained in public reports (e.g., your name, address, past addresses, or date of birth), to query account information associated with your linked bank account (e.g., name or account balance), and to take action we reasonably deem necessary based on the results of such inquiries and reports. You further authorize any and all third parties to which such inquiries or requests may be directed to fully respond to such inquiries or requests.

3. TRADING

3.1. Purchases.After successfully completing the applicable verification procedures, you may purchase bitcoin by linking a valid payment method. You authorize SFOX to initiate debits from your selected payment method(s) in settlement of your purchase transactions. An applicable trading fee, as indicated on the SFOX Site, applies to all purchase transactions and will vary depending on the algorithm you choose to execute the transaction. Although SFOX will attempt to deliver bitcoin to you as promptly as possible, funds may be debited from your selected payment method before bitcoin is delivered to your SFOX Account. To secure the performance of your obligations under this Agreement, you grant to SFOX a lien on and security interest in and to the balances in your account.

3.2. Sales. After successfully completing the applicable verification procedures, you may sell bitcoin by linking a valid payment method. You authorize SFOX to debit your SFOX Account(s) and initiate payment to your selected payment method(s) in settlement of your sell transactions. An applicable trading fee, as indicated on the SFOX Site, applies to all sale transactions and will vary depending on the algorithm you choose to execute the transaction. Your receipt of funds will vary depending on various factors.

3.3. Transaction Limits. The use of all Services is subject to a limit on the amount of volume you may transact or transfer in a given period, stated in U.S. Dollar terms. To view your limits, login to your SFOX Account and explore your user profile. Your transaction limits may vary depending on your payment method, identity verification steps you have completed, and other factors. SFOX reserves the right to change applicable limits as we deem necessary in our absolute and sole discretion. If you wish to raise your limits beyond the posted amounts, you may submit a request via the SFOX Site. We may require you to submit additional information about yourself or your business, provide records, and arrange for meetings with SFOX representatives.

3.4. Transaction Reversals and Cancellations. You cannot cancel, reverse, or change any transaction marked as complete or pending. If your payment is not successful or if your payment method has insufficient funds, you authorize SFOX, in its absolute and sole discretion, either to cancel the transaction or to debit your other payment methods, including SFOX Account balances or other linked accounts, in any amount necessary to complete the transaction. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, insufficient funds, or similar fees charged by your payment provider. SFOX reserves the right to refuse to process, or to cancel or reverse, any purchases or sales of bitcoin in its sole discretion, even after funds have been debited from your account(s), if SFOX suspects the transaction involves or potentially involved (or has a high risk of involvement in) restricted businesses as described in 1.2, money laundering, terrorist financing, fraud, or any other type of financial crime; or in response to a subpoena, court order, or other government order. In such instances, SFOX will reverse or cancel the transaction and we are under no obligation to allow you to reinstate a purchase or sale order at the same price or on the same terms as the reversed or cancelled transaction.

3.5. Taxes. It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities.

3.6. Modification or Discontinuance of Services. SFOX may, in our absolute and sole discretion and without cost to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of the Services.

3.7. Suspension, Restriction, and Cancellation of Services. SFOX may restrict, suspend or terminate your access to the Services in our absolute and sole discretion, immediately and without prior notice, and delete or deactivate related information and files without cost to you, including, for example, in the event that you breach any terms of this Agreement or you take any action that SFOX deems abusive or as circumventing SFOX controls.

4. ASSUMPTION OF RISK, LIMITS OF LIABILITY, AND INDEMNITY

4.1. Assumption of Risk. You acknowledge that there are risks associated with using the Services and the SFOX Site, including risk of failure of hardware, software and internet connections, the risk of malicious software introduction, and the risk that third parties may obtain unauthorized access to information stored within your SFOX Account. As such, SFOX will not be responsible or liable to you for any such related losses and takes no responsibility for use of the Services that involves user error such as forgotten passwords, incorrectly construed transactions, or mistyped bitcoin addresses; server failure or data loss; corrupt files; unauthorized access, or; any unauthorized third party activities, including without limitation the use or introduction of computer viruses, or other malware, phishing, spoofing or other means of attack against you or the SFOX Site or Services. You further accept and acknowledge that SFOX will not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the SFOX Site or the Services, regardless of the cause.

4.2. Suitability. SFOX does not make any recommendations or purport to offer any investment advice of any kind. The risk of complete loss in trading or holding bitcoin can be substantial and is likely. You are solely responsible for evaluating the merits and risks associated with the use of the SFOX Site and the Services and should take into consideration your particular financial situation in determining whether using the Services or trading bitcoin is suitable for you.

4.3. SFOX Site Accuracy and Availability. We make no representation or warranty that the SFOX Site, or the server that makes it available, is free of viruses or errors, that its content is accurate, that it will be uninterrupted, or that defects will be corrected. We will not be responsible or liable to you for any loss of any kind, from action taken, or taken in reliance on content, material, or information contained on the SFOX Site. Links to third-party materials may be provided as a convenience but are not controlled by us. You acknowledge and agree that we are not responsible for any aspect of the information, content, or services contained in any third-party materials or on any third party sites accessible or linked to the SFOX Site.

4.4. Limitation of Liability; No Warranty. IN NO EVENT SHALL SFOX, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH ANY USE OF THE SFOX SITE OR THE SERVICES, OR THIS AGREEMENT. THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. SFOX SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. SFOX DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE SFOX SITE, ANY PART OF THE SFOX SERVICES, OR ANY OF THE MATERIALS CONTAINED THEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR-FREE. SFOX makes no representations about the accuracy or completeness of any data, including historical price data, available on the SFOX Site. SFOX will make commercially reasonable efforts to ensure that requests for electronic debits and credits are processed in a timely manner but SFOX makes no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control.

4.5. Indemnification. You agree to indemnify and hold harmless SFOX, its affiliates and service providers, and each of its or their respective officers, directors, agents, joint venturers, employees and representatives, from any loss, damage, cost, action, claim or demand (including attorneys' fees and any fines, fees or penalties imposed by any regulatory authority) arising out of or related to your breach of this Agreement; your use of, or conduct in connection with, the Services; or your violation of any law, rule or regulation, or the rights of any third party.

4.6. Arbitration and Waiver of Class Action. If you have a dispute with SFOX, we will attempt to resolve any such disputes through our support team. If we cannot resolve the dispute through our support team, you and SFOX agree that any dispute arising under this Agreement shall be finally settled in binding arbitration, on an individual basis, and you and SFOX hereby expressly waive trial by jury and right to participate in a class action lawsuit or class-wide arbitration. The arbitration shall be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures and in accordance with the Expedited Procedures in those rules. The arbitration will be conducted by a single, neutral arbitrator and shall take place in the county or parish in which you reside, or another mutually agreeable location, in the English language. The arbitrator may award any relief that a court of competent jurisdiction could award, including attorneys' fees when authorized by law, and the arbitral decision may be enforced in any court. At your request, hearings may be conducted in person or by telephone and the arbitrator may provide for submitting and determining motions on briefs, without oral hearings. The prevailing party in any action or proceeding to enforce this Agreement shall be entitled to costs and attorneys' fees.

5. GENERAL PROVISIONS

5.1. Contact Us. Please contact us at support@sfox.com with any feedback, questions, or complaints.

5.2. Amendments. We may amend or modify this Agreement, in our absolute and sole discretion, by posting on the SFOX Site or emailing to you the revised Agreement, and the revised Agreement shall be effective at such time. If you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your account. You agree that we shall not be liable to you or any third party for any modification or termination of the Services, or suspension or termination of your access to the Services.

5.3. Entire Agreement. This Agreement and the Privacy Policy incorporated by reference herein comprise the entire understanding and agreement between you and SFOX as to the subject matter hereof, and supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between and among you and SFOX. Section headings in this Agreement are for convenience only, and shall not govern the meaning or interpretation of any provision of this Agreement.

5.4. Assignment. You may not assign any rights and/or licenses granted under this Agreement. We reserve the right to assign our rights without restriction, including without limitation to any SFOX affiliates or subsidiaries, or to any successor in interest of any business associated with the Services. Any attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.

5.5. Severability. If any provision of this Agreement is determined to be invalid or unenforceable under or by any regulation, law, court of competent jurisdiction, or any government agency, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of this Agreement shall not be affected.

5.6. Change of Control. Should SFOX be acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.

5.7. Survival. All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, those sections pertaining to suspension or termination, SFOX Account cancellation, general use of the SFOX Site, disputes with SFOX, and general provisions, shall survive the termination or expiration of this Agreement.

5.8. Governing Law. You agree that the laws of the State of Texas, without regard to principles of conflict of laws, will govern this Agreement and any claim or dispute that has arisen or may arise between you and SFOX, except to the extent governed by federal law.

5.9. Force Majeure. We shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.

5.10. No Waiver. This Agreement shall not be construed to waive rights that cannot be waived under applicable state laws where you are located.