Terms and Conditions
Last Updated: September 08, 2017 Please read carefully these Terms and Conditions (hereinafter – the “Terms”) before using a website http://wordcoin.io/ (hereinafter – the “Website”), as they affect your obligations and legal rights, including, but not limited to waivers of rights and limitation of liability. If you want to participate in the upcoming WORDCOIN Initial Coin Offering (hereinafter – the“ICO”), you should also read these Terms and accept them. If you do not agree with these Terms, you shall not use the Website or buy WordCoins.
1.1 Account – a User’s account on the Website, which is created and used to buy Wordcoin. A User is given the access to an Account upon its successful creation through providing http://wordcoin.io/ with all the required information. Only authorized Users have a right to buy Wordcoin on the terms provided herein.
1.3 Ethereum or ETH – a consensus network that enables a new payment system and a completely digital money; the decentralized payment network that is powered by its users with no central authority or middlemen.
1.4 Blockchain – type of distributed ledger, comprised of unchangeable, digitally recorded data in packages called blocks.
1.5 WORDCOIN Initial Coin Offering – period of time from September 27, 2017, to November 07, 2017, when the User is able to buy Wordcoin.
1.6 Wordcoin – cryptographic tokens, which are software product (digital resources), created by the Website Owner as a proof of membership of their holders in the WordExpert system (system, not legal entity). Wordcoin are not similar to securities, and shall not be considered as such.They are coins that will be used on new platform Word Expert.
1.7 Depotwallet – state-of-the-art 2-in-1 blockchain wallet that permits users to buy, sell, manage and hold digital coins and assets.
1.8 User – anyone who uses the Website, with or without prior registration and authorization using the Account.
1.9 Website Owner, WE-Foundation, Company, we, us – first tokenized closed-end fund designated to Blockchain assets; WE-Foundation, a company, that will be registered under the laws of Mauritius. In no way shall (company) be deemed a partner, employer or agent for any User or providing any financial services thereto.
1.10 Website – wordcoin.io
2. General Information.
2.1 These Terms are a legally binding Agreement between you, the User, on the one part, and the Website Owner, on the other part, also individually referred to as a “Party” and collectively as the “Parties”.
2.2 These Terms define basic mutual rights and obligations of the Website Owner and the Users, either registered or just visiting certain pages of the Website, during their use of the Website, including but without limitation, for the purpose of buying the Wordcoin.
2.3 By using the Website, the Users accept these Terms in full and agree to be bound thereby and comply therewith.
2.4 These Terms are effective at the time the Users begin using the Website. The Users may withdraw from their obligation under the Terms at any time by discontinuing the use of the Website.
2.5 The User acknowledges and accepts that:
- these Terms are subject to change, modifications, amendments, alterations or supplements at any time without prior written notice, at Website Owner’s sole discretion, by updating this posting at the “Last Updated” section; the User’s continued use of the Website after the amendments etc. shall constitute the User’s consent hereto and acceptance hereof; - the Website Owner reserves the right, at its own and complete discretion, to modify or to temporarily or permanently suspend or eliminate the Website, and/or disable any access to the Website.
2.6 By using this Website, you covenant, represent, and warrant that:
- you are of an age of majority to enter into this Agreement, meet all other eligibility and residency requirements, and are fully able and legally competent to enter into the terms, conditions, obligations, affirmations, representations, and warranties set forth herein and to abide by and comply herewith; - you are aware of all the merits, risks and any restrictions associated with cryptographic tokens (their buying and use), cryptocurrencies and Blockchain-based systems, as well as you know how to manage them, and you are solely responsible for any evaluations based on such your knowledge; - you have necessary and relevant experience and knowledge to deal with cryptographic tokens, cryptocurrencies and Blockchain-based systems, as well as you have full understanding of their framework.
2.7 You shall not use the Website if you are prohibited under the applicable law from using it. In particular, should any limitation or prohibition as to your purchase or use of any amount of the Wordcoin exist under the applicable law, we persistently recommend you not to use this Website and not to buy Wordcoin.
3. SALE OF WORDCOIN
3.1 You may purchase the Wordcoin within the period of WORDCOIN Initial Coin Offering set out herein and after on different exchanges.
3.2 PREICO will last 1 week. During the PREICO the Website Owner is going to sell 2,000,000 Wordcoin, which will define the further exchange rate for the next ICO steps. Theamountoftheraisedfundswillbedivided into 2 million wordcoins to define the initial currency rate, denominated in US dollars for the 4 onward ICO stages, where 5000000 wordcoins will be sold by the price, specified during PRE ICO, but no less than $1 per 1 wordcoin.
Weeks 1+ 5%but no less than $1 per 1 wordcoin
Week 2+ 10%
Week 3 + 15 %
Week 4 + 20%
All the unsold Wordcoins will be transferred to the platform development foundation and afterwards will be given away for newly registered users and the users, who successfully posted and completed their first orders on the platform.
The number of the Wordcoinallowed for purchase by one User is limited to a minimum of 1
Wordcoinand a maximum of 4,5 million Wordcoins. The Wordcoin is a token on the Ethereum platform. Its design follows widely adopted token implementation standards. This makes it easy to manage using existing solutions, including Ethereum Wallet.
3.3 The Wordcoin are the proof of their holders’ membership in the Word Expert System (system, not legal entity). TheWordcoin currencyprovidestheirholdersarighttotradeitin free circulation on the exchange markets, pay any service in it, contribute to it with the expectation to its rising cost.
3.4 Threemonths after ICO launchinvestors will be able to sell wordcoins to the clients, who can pay authors for the provided service. The authors may tradewordcoinsto Ethereum on the inner market, then wordcoin will be freely turned over on the exchange.
3.5 Any User who wants to buy the Wordcoin shall follow the instructions on the contribution page on the Website using real name and email address, as well as have Ethereum in any wallet. You could buy the Wordcoinfollowing the instructions on the website.
2 000 000 Wordcoin are distributed during PREICO. Investors send funds in
Ethereum to the wallet, specified on the contribute page. According to PREICO
results within 20 days after its finishing, wordcoins should be taken by
investors in the amount, proportional to their percentage in the total
contributions, and Wordcoin sets its initial rate to U.S. dollar but no less
than $1 per 1 wordcoin.
Then during the ICO stage to buy the Wordcoin at the exchange rate, specified at PREICObut no less than $1 per 1 wordcoin, you shall send an amount of Ethereum or other altcoins, which is equal to an amount of the Wordcoin that you would like to receive to the Wallet which is specified in the contribution page.
WORDCOINs can be distributed also from organizators` share and from the fund
for adding new demanded services to the system to big investors under special
conditions. This distribution is not included in PRE ICO and ICO share of
wordcoins. Terms and conditions of PRE Ico and ICO don`t apply to such
Investors can send ethereums only from wallets indicated in instructions that can be found in personal accounts otherwise it will be impossible to send wordcoins to them.
3.6 The Website does not accept fiat currency as payment for Wordcoin. In order to buy Wordcoin with legal tender user shall convert such funds into Ethereumor accepted Altcoins.
3.7 The Wordcoin purchased hereunder may be sold and transferred by the User at any time after the ICO via cryptocurrency exchanges if the Wordcoin are listed in any.
3.8 BY BUYING WORDCOIN HEREUNDER THE USER REPRESENTS AND WARRANTS THAT HIS/HER FUNDS IN NO WAY CAME FROM ILLEGAL OR UNETHICAL SOURCES.
3.9 The WORDCOIN offer limited real rights as contained in the WORDCOIN ICO terms and conditions. The Wordcoins are transferable, are not refundable and are not for speculative investment. No promises of future performance or value are or will be made in respect to the WORDCOIN, including no promise of inherent value, no promise of continuing payments, and no guarantee that the WORDCOIN will hold any particular value. The WORDCOIN are sold as functional goods and all the proceeds received from them through the ICO will be spent free from any conditions. You are only allowed to purchase wordcoin if you covenant, represent, and warrant that you are neither a U.S. citizen or permanent resident of the united states, nor do you have a primary residence or domicile in the united states, including puerto rico, the U.S. virgin islands, and any other possessions of the united states. in order to buy wordcoin you covenant, represent, and warrant that none of the owners of the company, of which you are an authorized officer, are U.S. citizen or permanent resident of the united states, nor do you have a primary residence or domicile in the united states, including puerto rico, the u.s. virgin islands, and any other possessions of the united states. should this change at any time, you shall immediately notify wordcoin foundation. the company shall reserve the right to refuse selling wordcoin to anyone who does not meet criteria necessary for their buying, as set out hereunder and by the applicable law. in particular, the company may refuse selling wordcoin to U.S. citizens, permanent residents of the united states and those users who do not meet any criteria specified in clause 2.6. 3. sale of wordcoin ico terms and conditions.
3.10 The WORDCOIN, WordExpert are blockchain-based platforms that utilize cryptography. The afore-mentioned products and services will be provided in accordance with the laws of relevant jurisdictions. As such, the WORDCOIN, WordExpert may not be immediately available in certain jurisdictions. The team behind the products and services are working aggressively towards obtaining the relevant licenses to offer the WORDCOIN, WordExpert to a wide spectrum of participants.
3.11 It is your responsibility to determine what, if any, taxes apply to the transactions you perform with wordcoins and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that Website Owners, its members and statutory representatives and any of the developers who programmed or contributed Wordcoin source code are not responsible for determining whether taxes apply to your transactions or for collecting, reporting, withholding or remitting any taxes arising from any transactions.
3.12Nothing in the Terms is intended to nor shall create any partnership, joint venture, agency, consultancy or trusteeship. You and Website Owners, its members and statutory representatives and any of the developers who programmed or contributed to Wordcoin source code are with respect to one another totally independent.
3.14 You hereby acknowledge that you are aware that any transaction performed on Website is irreversible. It is not anyhow possible to change or correct any parameter of any transaction once it was submitted. We strongly encourage you to check all of details of transactions prior to your confirmation that you wish to proceed with any transaction.
3.15 Investors can request tokens repurchase and return the contributed funds before the official launch of word.expert platform in May, 2018 via email@example.com, specifying their wallet number. After the return transfer of WORDCOINs according to the instructions, sent after a repurchase request, investors will receive the contributed funds minus Ethereum commission.
4. USER REGISTRATION AND ACCOUNT
4.2 You hereby expressly consent that you are solely responsible for the use of your login and password and for everything done using your registration details. You agree to keep your login information and password private. You are solely responsible for any loss or damage you or we may sufferas a result of your failure to do so.
4.3 You may deactivate your registration with the Website, at any time and for any reason, by sending an email request to firstname.lastname@example.org. We may terminate your use of and registration with the Website at any time if you violate these Terms, at our sole discretion and without prior notice and without any liability or further obligation of any kind whatsoever to you or any other party, when we find such measures reasonable and/or necessary in a particular situation.
5. THIRD-PARTY WEBSITES AND SERVICES.
5.1 The pages of the Website may contain links to third-party websites and services. Such links are provided for your convenience, but their presence does not mean that they are recommended by the WORDCOIN Foundation. In addition, the WORDCOIN Foundation does not guarantee their safety and conformity with any user expectations. Furthermore, we are not responsible for maintaining any materials referenced from another site, and makes no warranties for that site or this service in such context.
5.2 The WORDCOIN Foundation assumes no obligations in the event of any damage or loss, or any other impact, directly or indirectly resulting from the use of any content, goods or services available on or through any such third-party websites and resources
6.1 To the extent allowable pursuant to applicable law, the User shall indemnify, defend, and hold the WORDCOIN Foundation and/or its subsidiaries, affiliates, directors, officers, employees, agents, successors, and permitted assignees harmless from and against any and all claims, damages, losses, suits, actions, demands, proceedings, expenses, and/or liabilities (including but not limited to reasonable attorneys’ fees incurred and/or those necessary to successfully establish the right to indemnification) filed/incurred by any third party against the WORDCOIN Foundation arising out of a breach of any warranty, representation, or obligation hereunder.
7. DISCLAIMER OF WARRANTIES AND LIMITATION OR LIABILITY
7.1 THIS WEBSITE AND THE WORDCOIN ARE PROVIDED ON AN “AS IS” BASIS AND WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESSED OR IMPLIED. YOU ASSUME ALL RESPONSIBILITY AND RISK WITH RESPECT TO YOUR USE OF THE WEBSITE AND BUYING OF ANY AMOUNT OF THE WORDCOIN AND THEIR USE.
7.2 YOU HEREBY EXPRESSLY AGREE THAT, TO THE MAXIMUM EXTENT PERMITTED BY THE APPLICABLE LAW, THE WEBSITE OWNER DOES NOT ACCEPT ANY LIABILITY FOR ANY DAMAGE OR LOSS, INCLUDING LOSS OF BUSINESS, REVENUE, OR PROFITS, OR LOSS OF OR DAMAGE TO DATA, EQUIPMENT, OR SOFTWARE (DIRECT, INDIRECT, PUNITIVE, ACTUAL, CONSEQUENTIAL, INCIDENTAL, SPECIAL, EXEMPLARY OR OTHERWISE), RESULTING FROM ANY USE OF, OR INABILITY TO USE, THIS WEBSITE OR THE MATERIAL, INFORMATION, SOFTWARE, FACILITIES, SERVICES OR CONTENT ON THIS WEBSITE, FROM BUYING OF THE WORDCOIN OR THEIR USE BY THE USER, REGARDLESS OF THE BASIS, UPON WHICH THE LIABILITY IS CLAIMED AND EVEN IF WEBSITE OWNER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE.
7.3 YOU UNDERSTAND AND AGREE THAT THE WEBSITE OWNER SHALL NOT BE HELD LIABLE TO AND SHALL NOT ACCEPT ANY LIABILITY, OBLIGATION OR RESPONSIBILITY WHATSOEVER FOR ANY CHANGE OF THE VALUE OF THE WORDCOIN OR ETHS. THE WEBSITE OWNER SHALL NOT PROVIDE THE USER REFUND POSSIBILITIES (PAYOUT LIQUIDITY) FOR PURCHASED WORDCOIN. THE USER UNDERSTANDS AND EXPRESSLY AGREES THAT THE WEBSITE OWNER SHALL NOT GUARANTY IN ANY WAY THAT THE WORDCOIN MIGHT BE SOLD OR TRANSFERRED DURING OR AFTER THE ICO.
7.4 AT ANY CASE, TOTAL AMOUNT OF OUR AGGREGATE LIABILITY HEREUNDER MAY NOT EXCEED 500 (FIVE HUNDRED) US DOLLARS. IF APPLICABLE LAW DOES NOT ALLOW ALL OR ANY PART OF THE ABOVE LIMITATION OF LIABILITY TO APPLY TO YOU, THE LIMITATIONS WILL APPLY TO YOU ONLY TO THE EXTENT PERMITTED BY APPLICABLE LAW. YOU UNDERSTAND AND AGREE THAT IT IS YOUR OBLIGATION TO ENSURE COMPLIANCE WITH ANY LEGISLATION RELEVANT TO YOUR COUNTRY OF DOMICILE CONCERNING USE OF THIS WEBSITE AND USE AND BUYING OF THE WORDCOIN, AND THAT THE WEBSITE OWNER SHOULD NOT ACCEPT ANY LIABILITY FOR ANY ILLEGAL OR UNAUTHORIZED USE OF THIS WEBSITE AND USE AND BUYING OF THE WORDCOIN. YOU AGREE TO BE SOLELY RESPONSIBLE FOR ANY APPLICABLE TAXES IMPOSED ON TOKENS PURCHASED HEREUNDER.
7.5 THE WEBSITE OWNER DOES NOT WARRANT OR REPRESENT THAT ANY INFORMATION ON THE WEBSITE IS ACCURATE OR RELIABLE OR THAT THE WEBSITE WILL BE FREE OF ERRORS OR VIRUSES, THAT DEFECTS WILL BE CORRECTED, OR THAT THE SERVICE OR THE SERVER THAT MAKES IT AVAILABLE IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. WEBSITE OWNER SHALL NOT BE LIABLE FOR UNINTERPRETED AVAILABILITY OF THE WEBSITE AT ALL TIMES, IN ALL COUNTRIES AND/OR ALL GEOGRAPHIC LOCATIONS, OR AT ANY GIVEN TIME.
7.6 You understand that WordCoin, WordExpert, blockchain technology and other associated and related technologies may be effected by adverse changes in the market, force majeure or other negative consequences, which are outside the control of Website Owner.
7.7 You acknowledge that there are following risks associated with utilizing Wordcoin and future platform WordExpert including:
(a) failure of hardware, software and Internet connections;
(b) regulatory actions in one or more jurisdictions;
(c) that third parties may obtain unauthorized access to information including your cryptographic unique ID attributable to your user account and DCT stored within WordExpert;
(d) creation of unofficial duplication to WordExpert;
(e) insufficient interest in WordExpert project;
(f) malicious software, weaknesses or bugs introduction into the infrastructural elements of WordExpert;
(g) attack of miners on DCT (such as double-spend attacks, majority mining power attacks, „selfish-mining“ attacks or race condition attacks);
(h) destabilization of WordExpert and Wordoin due to a dramatically increased demand;
(i) slowing the transaction process time of Wordcoin due to insufficient mining computation resources;
(j) temporary network incoherence;
(k) investment into Wordcoin can lead to loss of money over short or even long periods.
8. INTELLECTUAL PROPERTY RIGHTS
8.1 The Website Owner has valid, unrestricted and exclusive ownership of rights to use the patents, trademarks, trademark registrations, trade names, copyrights, know-how, technology and other intellectual property necessary to the conduct of selling of the Wordcoin and his activities generally.
8.2 In no way shall this Agreement entitle the User for any intellectual property of the Website Owner, including the intellectual property rights for the Website and all text, graphics, user interface, visual interface, photographs, trademarks, logos, artwork, and computer code, design, structure, selection, coordination, expression and other content connected to the Website. Arrangement of such content is owned by the WORDCOIN Foundation and is protected by the Intellectual Property Rights and fair competition laws.
8.3 There are no implied licenses under the Agreement, and any rights not expressly granted to the User hereunder are reserved by the WORDCOIN Foundation.
9. JURISDICTION AND DISPUTE RESOLUTION
9.1 All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the laws of Mauritius.
9.2 To resolve any dispute, controversy or claim between them arising out of or relating to this Agreement, or the breach thereof, the Parties agree first to negotiate in good faith for a period of not less than sixty (60) days following written notification of such controversy or claim to the other Party.
9.3 If the negotiations do not resolve the dispute, controversy or claim to the reasonable satisfaction of all Parties during such period, then the Parties irrevocably and unconditionally submit to the exclusive jurisdiction of Mauritian courts under the applicable law, as set out in clause 9.1. hereof.
10.1 Entire Agreement. This Agreement is intended to fully reflect the terms of the original agreement between the Parties. No provision of the Agreement shall be considered waived unless such waiver is in writing and signed by the Party that benefits from the enforcement of such provision. No waiver of any provision in the Agreement, however, will be deemed a waiver of a subsequent breach of such provision or a waiver of a similar provision. In addition, a waiver of any breach or a failure to enforce any term or condition of the Agreement will not in any way affect, limit, or waive a Party’s rights hereunder at any time to enforce strict compliance thereafter with every term and condition hereof.
10.2 Assignment. The WORDCOIN Foundation may, at its sole discretion, assign its rights and/or delegate its duties under this Agreement. You may not assign your rights or delegate your duties, and any assignment or delegation without the written consent of theWORDCOIN Foundation, which the WORDCOIN Foundation may withhold at its sole discretion, shall be void.
10.3 Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the Parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the Parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.
10.4 Occasionally, the Terms may be subject to amendments. All changes will be announced by posting notice on website. Your continued use of website after publication of the updated Terms shall confirm that you accept and are bound of the amended Terms.
10.5 The User may send any questions regarding the use of the Website of the Wordcoin or regarding this Agreement via e-mail to email@example.com.