Terms And Conditions

These terms and conditions (Terms) form a binding legal agreement between the customer (you, your) and Ibandirect UAB, Registration Number: 305954239, Company Address: J. Basanavičiaus g. 26, LT-03224 Vilnius (we, us, our).

1. Our Service

1.1 We do not sell our own bitcoin. We provide buyer's agency services (Services), to allow you to quickly and easily buy bitcoin at a fair market rate, through cardbit.io (Website).

1.2 Because we source bitcoin for you as your agent, and do not sell you our own bitcoin, we are not required to charge you GST on the value of the bitcoin. We only charge you GST on our Commission.

1.3 By sending us a trade request on the Website, you agree to be bound by these Terms, which govern all aspects of our trade with you (Order).

1.4 These Terms only apply to your buying bitcoin through us through the Website.

2. How trading with us works

2.1 By sending us a buy request on the Website, you are requesting to use our Services.

2.2 The price quoted in our advertisements is a total price which includes our Commission.

2.3 Once you have sent us a buy request, we will confirm: a) the amount and price of the bitcoin for the Purchase; and b) our Commission for the Order.

2.4 Once you have sent us a trade request, the Website will automatically confirm that our bitcoin wallet contains at least the amount of bitcoin for the trade, and will hold this amount in escrow as a security deposit.

2.5 You must follow the procedures exactly in order to pay for your Order.

2.6 We reserve the right to reject your Purchase if you:
a) do not follow the payment and identification procedure exactly;
b) use a TOR/VPN service;
c) attempt to procure any other person to pay for your Order;

2.7 If we reject your Purchase under clause 2.8, we will refund any payment you have made, as soon as possible, but there may be delays due to bank processing and clearance times.

2.8 Once we receive confirmation from our payment provider that you have paid for your Order, we will immediately acquire bitcoin for you, from one of the bitcoin exchanges which we have accounts with.

2.9 We will then immediately release the bitcoin, once acquired, from our bitcoin wallet on the Website to your bitcoin wallet on the Website.

3. Sending Cryptocurrency to another wallet

3.1 Clients have an option to send Bitcoins from Cardbit account to their external cryptocurrency wallets:
a) Select “Wallets” option in the customer login section;
b) Under My Wallets select “Actions” drop down menu and hit Withdrawal option
c) Choose the amount you would like to withdraw and hit the “Confirm” button

Transaction will be executed within 6 hours upon receiving the request.

4. Service Delivery

4.1 Once your buy request is authorized we will immediately pursue with the order, however due to blockchain regulations it might take up to 4 (four) to 6 (six) hours for bitcoin to appear on your wallet.

4.2 Maximum transaction amount limits are: Card Purchases - 1000 EUR per month, SEPA Purchases - 50000 EUR per month. Limits can be adjusted individually.

5. Payment methods

5.1 If you have requested to pay by credit card, you must, in the website section:
a) upload a copy of an ID document showing your name and photo (passport or drivers licence) and a secondary document showing at least your name by a Government source or a reputable institution;
b) provide your mobile phone number (current and working).
c) provide your e-mail address (current and working).
d) If requested, a form of social media, to verify your online presence.

6. Appointment as your agent

6.1 We do not sell our own bitcoin to you. We acquire bitcoin on your behalf from one of the bitcoin exchanges or bitcoin sellers that we have access to.

6.2 You appoint us as your agent for the sole purpose of acquiring the bitcoin for the Order.

6.3 You direct and authorise us to acquire the relevant amount of bitcoin set out in the Order:
a) on your behalf; and
b) at the best price that we can obtain through the bitcoin exchanges we use.

6.4 The price quoted in our advertisements is based on the current average price across the various bitcoin exchanges we use to acquire bitcoin for you. It takes into account fluctuations in the prices quoted on those exchanges as well as (where relevant) the exchange rate between Euro and the other fiat currencies used by those exchanges.

6.5 From time to time, variations in the price offered on a bitcoin exchange may result in the actual price of the bitcoin that we acquire being higher or lower than the agreed price set out in your Order. However, we will always honour the price set in your Order, as follows.
a) If the price we pay on a bitcoin exchange to acquire bitcoin on your behalf is higher than the agreed price in the Order, we will bear the cost of this difference.
b) If the price we pay on a bitcoin exchange to acquire bitcoin on your behalf is lower than the agreed price in the Order, you authorise us to retain the difference.

6.6 Our authority and responsibility as agent is limited to acquiring the bitcoin on your behalf under the Order.

6.7 We retain full discretion to choose where to acquire the bitcoin for your Order.

6.8 We confirm and warrant that we do not act as agent for any bitcoin exchange or bitcoin seller or accept any commission or other form or remuneration from any bitcoin exchange or bitcoin seller.

7. Our Fees

7.1 We charge you a fee (Commission) which is a fixed percentage of the Euro value of your Order, which you must pay at the same time as payment for your Order.

7.2 The Commission will be confirmed before you are required to pay for your Order.

7.3 We charge GST on the Commission. The Commission is quoted including GST.

7.4 Immediately upon completing the Order, we will provide you with an invoice which specifies the amount of bitcoin acquired, the amount of the Commission, GST charged on the Commission, and the total amount you paid for the Order.

7.5 We make no representation or warranty as to whether or not the bitcoin that you have acquired is a creditable acquisition for Goods and Services Tax.

7.6 We are not required to confirm the identity of the seller of the bitcoin.

8. Your personal information

8.1 We reserve the right to require you to confirm your identity before fulfilling your Order.

8.2 We will only collect and use your personal information in order to confirm your identity, and we will not use your personal information for any other purpose. We may store your personal information in a secure encrypted form for our records.

8.3 We will never disclose your personal information to any third parties (apart from our employees, officers and related entities) unless required to do so by law.

9. Limitation of liability

9.1 Apart from the matters set out in these Terms, we do not control any aspect of the Website and we are not responsible for any loss you suffer including but not limited to:
a) as a result of you failing to deposit, or a bank failing to process, payment for your Order within the specified timeframe, or you providing incorrect account details in making a payment; and
b) any problems with the Website including loss of control of your bitcoin wallet or account with the Website for any reason.

10. Representations

10.1 If you agree to these Terms you represent to us that you:
a) are 18 years old or older; and
b) are capable of entering into a legally binding agreement.

10.2 You also represent and warrant that:
a) all information you have provided to us is correct and current;
b) you have the power and authority necessary to enter into the agreement formed under these Terms and to perform the acts required under these Terms; and
c) you have complied and will continue to comply with all applicable laws, statutes, ordinances, and regulations (including without limitation anti-spam laws and any relevant data protection or privacy laws).

11. Local Laws

11.1 These Terms will not be excluded to the extent that such exclusion is prohibited by the laws of the jurisdiction where you reside and where those laws confer rights and remedies and imply terms into these Terms that cannot be excluded.

11.2 If a jurisdiction does not allow an exclusion or limitation of liability, but allows a limitation to a certain maximum extent, then our liability is limited to that extent.

11.3 If any provision in these Terms is invalid under any law the provision will be limited, narrowed, construed or altered as necessary to render it valid but only to the extent necessary to achieve validity.

11.4 If necessary the invalid provision will be deleted from these Terms and the remaining provisions will remain in full force and effect.

12. Validity

12.1 If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, that provision will be deemed severable from these Terms and will not affect the validity and enforceability of any remaining provisions.

13. No Waiver

13.1 A failure by us to act with respect to a breach by you or any third party does not waive our right to act with respect to subsequent or similar breaches.

14. Entire agreement

14.1 This Agreement and all documents referenced in this Agreement comprise the entire agreement between you and us in relation to your use of our Services and supersede all prior agreements between the parties.

15. Governing Law

15.1 The laws of Republic of Lithuania govern any agreement formed under these Terms and the parties irrevocably submit to the jurisdiction of the courts of that State.

16. Regional Limitations:

16.1 Our services are restricted for the residents of following countries:

16.1.1. Cuba
16.1.2. Ethiopia
16.1.3. Iran
16.1.4. Iraq
16.1.5. Korea
16.1.6. Sudan
16.1.7. Syria
16.1.8. Yemen
16.1.9. Bosnia and Herzegovina
16.1.10. Uganda
16.1.11. Vanuatu
16.1.12. Crimea
16.1.13. Japan
16.1.14. Iceland
16.1.15. Lebanon

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