Last Modified: April 24, 2018
The Platform is only intended for adults eighteen (18) years of age and older. You are not allowed to use the Platform or provide information on it if you are under eighteen (18) years of age.
The Platform is an online environment to purchase TrueUSD for US dollars and redeem TrueUSD for US dollars only. TrueUSDs are not money, legal tender, and are not monetary instruments. They are also not stored value or currency. Once you have TrueUSDs, you can trade them, keep them, use them to pay persons that will accept your TrueUSDs, or redeem them for US Dollars.
TrueUSDs are fully backed by the currency or property used to purchase them at issuance. TrueUSD holders can purchase or redeem TrueUSDs for US Dollars held in escrow accounts managed by our fiduciary network through the Platform. The Platform is intended only to facilitate such purchases and redemptions. The Company utilizes TrustToken’s asset tokenization smart contracts and escrow accounts managed by professional trust companies in order to legally guarantee a 1 to 1 parity between TrueUSDs and the US dollars held in escrow accounts for the benefit of our users. The Company itself does not guarantee any right of redemption or exchange of TrueUSDs for US Dollars.
The Company reserves the right to refuse to issue or redeem TrueUSD, without limiting the generality of the foregoing, if any act, conduct, transaction, omission, or misrepresentation, or the party requesting the issuance or redemption, violates, attempts to violate, causes, aids, or abets the violation of any applicable laws, statutes, ordinances, or regulations; is suspected or believed to be blocked property, frozen assets, or economic resources, or the proceeds of any crime, terrorist financing, or corruption related to any person or government official under any applicable laws; exposes the Company to sanctions, restrictions, or penalties. The Company also reserves the right to refuse to issue or redeem TrueUSD upon receipt of any subpoena, order, or request from any government, government official, or law enforcement authority of competent jurisdiction.
You and we agree that any party hereto may bring claims against the other only on an individual basis and not as a plaintiff or class member in any purported class or representative action or proceeding. Unless the parties agree otherwise, any adjudicator of any claim—whether judicial or otherwise—may not consolidate or join more than one party’s claims and may not otherwise preside over any form of a consolidated, representative, or class proceeding. Any adjudicator of any claim may award relief, including monetary, injunctive, and declaratory relief, only in favor of the party seeking relief, and only to the extent necessary to provide relief necessitated by that party’s claim(s). Any relief awarded cannot affect other users of the Platform or of any Services.
We are committed to providing you with safe, compliant, and reputable services through the Platform. Accordingly, we insist on a comprehensive and thorough customer due diligence process and implementation and ongoing analysis and reporting. This includes monitoring of and for suspicious transactions and mandatory reporting to international regulators.
We reserve the right to refuse registration to, or to bar transactions from or to, anyone from or in jurisdictions that do not meet international AML–CTF standards as set out by the FATF; to anyone that is a Politically Exposed Person within the meaning of the FATF’s 40 Recommendations; or that fails to meet any of our customer due diligence standards, requests, or requirements. In lieu of refusing registration, we may perform enhanced customer due diligence procedures. At all times, you may be subject to enhanced customer due diligence procedures in your use of the Platform and any related service.
We reserve the right to prohibit specific cryptocurrency wallet addresses from accessing the Platform, receiving TrueUSD tokens, or transferring TrueUSD tokens if properly directed to do so by law enforcement or a court of competent jurisdiction. The Company will cooperate with applicable law enforcement and regulatory authorities where it is required to do so and will share information if there are grounds to believe that TrueUSD is being used for illegal purposes.
We reserve the right to prohibit specific cryptocurrency exchanges from accessing the Platform, receiving TrueUSD tokens, or transferring TrueUSD tokens if the exchange has not been preapproved by the Company or the Company is properly directed to do so by law enforcement or a court of competent jurisdiction. We reserve the right to restrict or prohibit the listing or trading of TrueUSD on any exchange in our sole and absolute discretion. Any exchange that lists TrueUSD represents and warrants to the Company that by doing so it is duly organized, registered, licensed, and shall comply with all applicable laws and rules in every jurisdiction in which it operates. Furthermore, any exchange listing TrueUSD represents and warrants to the Company that by doing so it has Anti-Money Laundering ("AML") and Counter Terrorist Financing controls meeting the requirements in every jurisdiction in which it operates. The Company will make reasonable efforts to notify and inform exchanges in advance of any such restriction or prohibition, unless the Company is prohibited from doing so by law or under an order from a court of competent jurisdiction or authority.
We reserve the right to amend the Platform, and any service or material we provide on the Platform, in our sole discretion without notice. This includes, but is not limited to, replacing the existing TrueUSD smart contract with a new smart contract or moving TrueUSD to a new blockchain. In the event that the TrueUSD smart contract is replaced or moved to a new blockchain, balances will be transferred and the old TrueUSD will not be valid for any purpose and shall be frozen.
Should the ethereum blockchain fork, we reserve the right to select the new fork based on factors that include, but are not limited to, community adoption and long-term viability. In the event of an ethereum fork, TrueUSD on the non-chosen fork will not be valid for any purpose and shall be frozen.
We reserve the right to prohibit wire submissions of USD or redemption requests of TrueUSD if the total amount submitted or requested is less than $10,000 USD. The Company may reduce this minimum amount in the future in coordination with our fiduciary network.
You are solely responsible for maintaining the confidentiality of your account information, as well as any and all activities that occur under your account. You must immediately notify us of any unauthorized use of your account and any other such security breach. We will not be liable for any loss that may occur as a result of someone else using your account or password, with or without your knowledge. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.
All transactions on the Platform are subject to fees as set out and updated in the fee schedule from time to time. The current fee schedule can be found here.
Cryptocurrency markets are volatile and shift quickly in terms of liquidity, market depth, and trading dynamics. You are solely responsible and liable for your account on the Platform and knowing the true status of your TrueUSD even if the information on the Platform is displayed incorrectly. We do not provide any investment advice or consultation on the advisability of purchasing TrueUSD, the timing of a purchase or redemption, or any other matters regarding the purchase or redemption of TrueUSD, such as trading techniques, models, algorithms, or any other schemes.
In the event that you provide us any ideas, thoughts, criticisms, suggested improvements, or other feedback related to Platform (collectively “Feedback”), you agree we may use the Feedback in any way we deem appropriate to: (a) improve our Platform and (b) promote the Platform, and that you will not be due any compensation for your Feedback that is used in these ways.
The Platform and its entire contents, features, and functionality (including but not limited to all information, software, text, displays, images, video and audio, and the design, selection, and arrangement thereof), are owned by the Company, its licensors, or other providers of such material and are protected by United States and international copyright, trademark, patent, trade secret, and other intellectual property or proprietary rights laws.
We do not warrant the accuracy, completeness, or usefulness of any information on the Platform. Any reliance you place on such information is strictly at your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the Platform, or by anyone who may be informed of any of its contents.
The Platform includes content provided by third parties, including materials provided by other users, attorneys, third-party licensors, syndicators, aggregators, and/or reporting services. All statements and/or opinions expressed in these materials, other than the content provided by the Company, are solely the opinions and the responsibility of the person or entity providing those materials. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.
Links to any third-party websites on the Platform are provided for your convenience only. We have no control over the contents of those sites or resources. If you decide to access any of the third-party websites linked to the Platform, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.
The Platform is controlled and operated from the United States and is subject to its laws. If you choose to access the Platform outside of the United States, you do so at your own risk and are responsible for complying with all applicable laws, rules, and regulations.
YOUR USE OF THE PLATFORM, ITS CONTENT, TRUEUSD, AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE PLATFORM IS AT YOUR OWN RISK. THE PLATFORM, ITS CONTENT, TRUEUSD, AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE PLATFORM ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED.
NEITHER THE COMPANY NOR ANY PERSON ASSOCIATED WITH THE COMPANY MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY, OR AVAILABILITY OF THE PLATFORM OR TRUEUSD. WITHOUT LIMITING THE FOREGOING, NEITHER THE COMPANY NOR ANYONE ASSOCIATED WITH THE COMPANY REPRESENTS OR WARRANTS THAT THE PLATFORM, ITS CONTENT, TRUEUSD, OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE PLATFORM WILL BE ACCURATE, RELIABLE, ERROR-FREE, OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT THE PLATFORM OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT THE PLATFORM, TRUEUSD, OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE PLATFORM WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS.
THE COMPANY HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, AND FITNESS FOR PARTICULAR PURPOSE.
THE FOREGOING DOES NOT AFFECT ANY WARRANTIES WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.
IN NO EVENT WILL THE COMPANY, ITS AFFILIATES, OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS, OR DIRECTORS BE LIABLE FOR DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE PLATFORM, ANY WEBSITES LINKED TO IT, ANY CONTENT ON THE PLATFORM, TRUEUSD, OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE PLATFORM, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS, OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT, OR OTHERWISE, EVEN IF FORESEEABLE.
IN NO EVENT WILL THE COLLECTIVE LIABILITY OF THE COMPANY AND ITS SUBSIDIARIES AND AFFILIATES, AND THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS, AND DIRECTORS, TO ANY PARTY (REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT OR OTHERWISE) EXCEED THE AMOUNT YOU HAVE PAID TO THE COMPANY FOR THE APPLICABLE SERVICES IN THE LAST 12 MONTHS OUT OF WHICH LIABILITY AROSE.
THE FOREGOING DOES NOT AFFECT ANY LIABILITY WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.
All feedback, comments, requests for technical support and other communications relating to the Platform should be directed to: firstname.lastname@example.org.