Bitzaro Pay

Terms of Use

Last updated: 24th June 2024

Welcome to Bitzaro Pay, the brand name used by Peer2Peer Fintech Solution s.r.o (“Bitzaro”), which will provide services to you. Please read these Terms of Use (“Terms”) carefully. To make these Terms easier to read, Bitzaro services, including the websites, servers, mobile applications, any software, and the framework, API, and a web or mobile widget through which these items are provided are collectively called the “Services”.

By using our Services, you agree to these Terms. You are advised to print or download and keep a copy of these Terms for future reference. You can always view the current Terms at our Site: https://www.bitzaro.com/terms-of-use/.

Why is this information important?

These Terms govern the relationship between you and Peer2Peer Fintech Solution s.r.o, a company registered at Chudenická Str., 1059/30, Hostivat, ZIP 102 00, Prague 10, Czech Republic, registry number 17968569. It applies when you use Bitzaro Services, which is a B2B and B2C service that allows individuals or companies (“Users”) to use Bitzaro as a technology provider to enable Users to buy, sell, convert, and store cryptocurrency. These Terms also set out other important things that you need to know.

These Terms, along with our Contract and its appendices, Site, mobile application, and any other documents we give you that apply to our Services, form a legal agreement between you and us, Bitzaro.

DEFINITIONS

The terms with capital letters used in the Contract and in Terms shall have the meaning herein as set forth below:

  • Contract – an agreement concluded between Bitzaro and the User, of which these Terms form an integral part.
  • Digital Asset – means a peer-to-peer decentralized digital representation of value – products, commonly known as cryptographic tokens, digital tokens, or cryptocurrency (Bitcoins, Ethereum, Tether, tokens, etc.).
  • Fiat – means the government-issued currency that is approved and accepted by Bitzaro for the User to use the services under these Terms.
  • Force Majeure – means war, emergency, accident, blackouts, strikes, labor actions, riots, insurrections, civil commotion, labor or material shortages, government acts, court or tribunal orders, fire, earthquake, flood, storm, other agents beyond reasonable control, including failures of the Internet, computer hardware, telecommunications or any other equipment, as well as other impediments which the affected Party proves was beyond its control and that it could not reasonably be expected to have taken the impediment into account at the time of the conclusion of the Contract / Terms or to have avoided or overcome it or its consequences.
  • Partner – credit card acquirers, banks, KYC/AML providers, technology providers or vendors of any kind.
  • Parties – Bitzaro and the User jointly.
  • Purchase – means a transaction involving a transfer of cryptocurrencies to the User.
  • Sale – means a transaction involving a transfer of cryptocurrencies from the User.
  • Services – means all and any services provided by Bitzaro, including but not limited to the service of exchanging a virtual currency against a fiat currency, virtual currency against another virtual currency, and virtual currency wallet service.
  • Site – means Bitzaro’s website at https://www.bitzaro.com/ or any other website where the Bitzaro widget is exposed and Bitzaro Services are being served.
  • Store – means storing of the User’s cryptocurrency in a wallet owned and/or operated by Bitzaro at User’s behalf and his disposal.
  • Convert – means a transaction involving a transfer of a different cryptocurrency from the User and different cryptocurrency to the User where exact amounts are agreed by the User.
  • Terms – the present document which contains terms which are accepted by the User by ticking a checkbox when registering or using any Services and any other agreements, which are entered into between the User and Bitzaro from time to time.
  • We/Our/Us – references are to Bitzaro in this document.
  • User/Customer/You/Your – a natural person, legal person, or an organization also while having a legal personality, which uses Bitzaro Services to make Purchase, Sell, Convert, or Store of cryptocurrencies.

Where the context so admits words denoting the singular shall include the plural and vice versa.

SUBJECT MATTER OF THE GENERAL TERMS

Bitzaro provides an online Digital Asset on-ramp and off-ramp service. Bitzaro functions as a virtual currency service provider and not as a buyer or seller in trades made between the Users and the Partners. The User acknowledges and agrees that, when completing trading transactions, that Bitzaro may act as a provider of cryptocurrencies in such transactions, e.g., the counterparty to any trade, or provide other Services, e.g., wallet services not being a counterparty to such trade.

Bitzaro strives to maintain the accuracy of the information on the Site and/or given while providing the Services; however, Bitzaro cannot and does not guarantee the accuracy, suitability, reliability, completeness, performance, or fitness for any purpose of the content made available through the Site or the Services and will not be liable for any loss or damage that may arise directly or indirectly from your use of such content. Information on the Services can be subject to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions.

The following cryptocurrencies are available through our crypto services (this list may be revised, please check relevant data on our website from time to time): Bitcoin, USDT (USDT Tether), Ethereum (ETH), Cardano (ADA), Aave (AAVE), Basic Attention Token (BAT), Bitcoin Cash (BCH), Compound (COMP), Dogecoin (DOGE), Polkadot (DOT), Enjin coin (ENJ), EOS (EOS), Flow (FLOW), Kyber network (KNC), Chainlink (LINK), Litecoin (LTC), Polygon native (MATIC), Polygon ERC-20 (MATIC ETH), Maker (MKR), Omisego (OMG), Synthetix (SNX), Solana (SOL), Stacks (STX), Tron (TRX), Uniswap (UNI), Vechain (VET), Stellar (XLM), and Tezos (XTZ).

Bitzaro can extend or limit the amount of cryptocurrency that the User can buy. At times, Bitzaro may refuse the User’s instruction to buy or sell cryptocurrency. If Bitzaro does so, Bitzaro will not be responsible for any losses incurred by the User.

Bitzaro may deny User’s instructions if:

  • there is not enough liquidity available for the desired cryptocurrency,
  • one of the Partner’s crypto exchanges is not available (for example, one of them may be facing service disruption),
  • Bitzaro has reasonable grounds to suspect that the User’s instruction was illegal or otherwise carry criminal intent (for example, to commit fraud),
  • Bitzaro has good reason to believe that the User’s instructions may harm Bitzaro’s reputation or goodwill,
  • the transaction would not follow applicable law, particularly with the AML/CTF regulations,
  • the user fails or refuses to undergo KYC verification.

DISCLAIMER: The risk of loss in trading or holding Bitcoin or any other cryptocurrency can be substantial. You should carefully consider whether trading or holding Bitcoin or any other cryptocurrency is suitable for you in light of your financial condition. When considering whether to trade or hold bitcoin, you should be aware that the price or value of Bitcoin or any other cryptocurrency can change rapidly, decrease, and potentially even fall to zero.

ELIGIBILITY

To be eligible to use any of the Bitzaro Services, you must be at least 18 years old, have the capacity to enter into legally binding contracts, and reside in a country in which the relevant Bitzaro’s Services are accessible.

SERVICES
Bitzaro offers the following services.

1. Purchase services to individuals and businesses:

(a)  fiat to the crypto widget gateway allowing the purchase of cryptocurrency for all private persons located worldwide.

  1. Each user who wishes to use the services must pass KYC check with liveness detection and AML check by communicating with Bitzaro. Such user authorizes Bitzaro to process, use, and store any transmitted data for the time as applicable law requires.
  2. Each user provides his/her wallet address or email address. In case there is no wallet, we will send you the information on how to get the assets you purchased by email.

(b)  for private persons and businesses in case of periodic orders for the purchase and sale of cryptocurrency through and OTC trading desk – after passing KYC/AML check successfully, such customers may be allowed to purchase cryptocurrency on individual terms agreed between Bitzaro and the User ( “OTC Purchases”) .

  1. Subject to prior Bitzaro’s authorization, to perform OTC Purchases the User transfers the fiat to Bitzaro’s bank account and instructs Bitzaro on the cryptocurrency purchase on his behalf.
  2. Once the fiat is credited to Bitzaro’s account, Bitzaro quotes a trade and asks for the User’s authorization to perform a transaction.

Bitzaro is using 3D Secure (3DS) as the authentication protocol for online card payments. The cardholder authenticates themselves to the issuing bank on the 3D Secure page by entering an OTP (One Time Pin) or known password, etc. The result of this authentication is returned to Bitzaro. Bitzaro submits the card information and the 3D Secure authentication result to our acquiring bank. When the card is being used for the first time for the given User, Bitzaro has the right to delay the delivery of purchased assets for the duration of the necessary verification.

After the User is authorized by Bitzaro, Bitzaro purchases the cryptocurrency and transfers the purchased cryptocurrency to the User’s wallet.

Please note that Bitzaro has the right to deliver coins up to 24 hours from the Purchase. It depends, among other factors, on how the User went through the KYC process. Delivery time may also be extended if an AML investigation is required. Please be aware that the first-time Purchase is handled manually and on a case-by-case basis. Bitzaro may assess a particular User as trusted or not trusted based on the User’s behavior.

Please note that Bitzaro does not accept cards issued in a different name or for a different person than the User who went through the KYC process. Sharing usernames, passwords, or accounts is strictly prohibited.

Bitzaro has the right to refuse to provide its Services to the User at its sole discretion. In particular, Bitzaro may refuse to execute a transaction if Bitzaro considers the transaction as suspicious within the meaning of the AML regulations, in the case of transactions from a country on the non-permitted list, or if Bitzaro finds the credibility of the User suspicious or if the way of using the Bitzaro Services is found to be inconsistent with its intended use and/or for fraud.

2. Electronic invoice:

invoicing Services to facilitate the creation and management of invoices electronically. Users may utilize these services to generate, send, and track invoices related to transactions conducted through the platform.

VERIFICATION

Identification and verification procedures (also known as “Know Your Customer” or “KYC”) are required. By using Bitzaro Services, the User authorizes Bitzaro to make inquiries, either directly or through third parties (external KYC service providers), that are deemed necessary to verify the User’s identity, to check the relevance and accuracy of the information provided for verification purposes, or to protect the User and/or Bitzaro against financial crimes such as fraud.

If the User refuses to provide required documents and information under KYC, Bitzaro reserves the right to immediately terminate the Services provision to the User.

If there is any reasonable doubt that any information provided by the User is wrong, untruthful, outdated, or incomplete, Bitzaro has the right to send the User a notice to demand corrections, request additional information, remove relevant information directly and, as the case may be, terminate all or part of the Services to the User. The User acknowledges and agrees that the Purchase may be delayed due to some verifications and checks (performed by Bitzaro or the Partners).

Unverified Users are not allowed to use any Services until the verification process has been completed.

TRANSACTIONS LIMITS AND ENHANCED DUE DILIGENCE

The use of all Bitzaro Services is subject to a limit on the volume, stated in USD, EUR, or other fiat currency you may transact or transfer in a given period (e.g., daily). To view your limits, log in to your Bitzaro account. Your transaction limits may vary depending on your payment method, verification steps you have completed, and other factors. We reserve the right to change applicable limits as we deem necessary. If you wish to raise your limits beyond the posted amounts, you may submit a request at [email protected].

  1. We may require you to submit additional information about yourself and provide additional records if you wish to raise your limits (“Enhanced Due Diligence”). In our discretion, we may refuse to raise your limits, or we may lower your limits at a subsequent time even if you have completed Enhanced Due Diligence.

WARNING! You are strongly advised to read this

ANY PURCHASE UNDER THESE TERMS CAN BE AGREED BETWEEN THE BITZARO AND THE USER ELECTRONICALLY (INCLUDING BUT NOT LIMITED TO BY EMAIL, MESSENGERS SUCH AS TELEGRAM, WHATSAPP, ETC., BY PHONE), AND THE USER ASSUMES SOLE RESPONSIBILITY FOR RESULTS OBTAINED FROM THE USE OF THE SERVICES. THE BITZARO SHALL HAVE NO LIABILITY FOR ANY DAMAGE CAUSED BY ERRORS OR OMISSIONS IN ANY INFORMATION, INSTRUCTIONS, OR SCRIPTS PROVIDED TO THE BITZARO BY THE USER IN CONNECTION WITH THE SERVICES, OR ANY ACTIONS TAKEN BY THE BITZARO AT THE USER’S DIRECTION INCLUDING BUT NOT LIMITED TO PURCHASE PRICES AGREED BETWEEN THE BITZARO AND THE USER.

USING SERVICES

By using Services, the User expressly represents and warrants that he/she:

  • follows the rules and laws in his/her country of residence and/or country from which he/she accesses the Services,
  • accepts to fully comply with these Terms, and any arising provisions and regulations, is at least 18 years old and has the right to accept these Terms and use the Services,
  • will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or procedures of the Services,
  • undertakes to go through the verification process,
  • undertakes to fully cooperate with Bitzaro and answer all Bitzaro questions sent by email without undue delay related to Services.

If the User is entering into these Terms on behalf of a legal entity of which he/she is an employee or agent, the User represents and warrants that he/she has all necessary rights and authority to bind such legal entity.

Bitzaro maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion. Depending on the User’s place of residence (and/or other legal facts), the User may not be able to use all of the Services.

It is the User’s responsibility to follow those rules and laws in his/her place of residence and/or place from which the User accesses the Services. The User is solely responsible for understanding and complying with any and all laws, rules, and regulations of his/her specific jurisdiction that may be applicable to the User in connection with the use of any and all Services of Bitzaro.

RISK OF CRYPTOCURRENCIES

Please be aware that cryptocurrency carries significant risks. The User should carefully consider whether it is appropriate for you to buy cryptocurrency.

These risks include the following:

  • Like any other digital system, cryptocurrencies are at risk of being hacked or affected by technical problems. This could result in losing cryptocurrency or delay the User’s ability to sell, transfer, or spend it;
  • the regulation (or lack of regulation) of cryptocurrency or crypto exchanges can change at any time. Any change is likely to affect the value of any cryptocurrency; and
  • The cryptocurrency prices are very volatile (more so than central government-issued fiat currencies). This could happen if, for example: (i) a new, better cryptocurrency is created; (ii) software developers make unexpected changes to how the cryptocurrency works; or (iii) there is a change in cryptocurrency regulation.

The price or value of cryptocurrencies can rapidly increase or decrease at any time. It may even fall to zero. Unlike fiat currencies, no bank or government can stabilize the value of cryptocurrency if it changes suddenly.

All Users should be aware that the marketplace is all about calculated risks. And one of those risks is the situation when there is a price difference from the amount of the original market order and the actual price paid of a stock (“Slippage”). Slippage can, and does, happen in any trade situation, and occurs to both cryptocurrency and traditional assets – it is a regular market phenomenon and occurs in all kinds of markets, be they equities, currencies, bonds, futures, or cryptocurrency. Sudden price changes usually occur with major news events, and with certain trading seasons. Therefore, Bitzaro stipulates that there is a possibility of the slipping of the purchase price (settlement) by 0.3% for centralized exchanges and 1% for decentralized exchanges. The User must be aware of this when deciding to use Bitzaro Services.

Opportunities for Partners and how to become our Partner:

Bitzaro offers a great opportunity to become our partner and earn more!

  1. Our Partners can use our widget on their websites under a white label license (Bitzaro may or may not be a counterparty of any Purchase in such a case).
  2. Our Partners who are licensed institutions and successfully passed Bitzaro’s KYB process can use certain functions of our widget, in particular, credit cards processing under white label license (such transactions are considered as fiat to the cryptocurrency processing and Bitzaro provides stable coins).
  3. You may become our affiliate Partner and place our widget on your website to earn revenue from each transaction, subject to the following conditions: (i) amount of fee sharing shall be agreed between Bitzaro and the Partner in advance; (ii) each User enters into any communication or Contract directly with Bitzaro.

Our Services will soon be available on mobile devices with iOS or Android operating systems.

BITZARO’S RIGHTS AND RESPONSIBILITIES

  • The Services shall remain the property of Bitzaro. Bitzaro cooperates with its Partners and relies on their licenses and its own.
  • Bitzaro undertakes to provide the Services with the appropriate effort, due care, and in accordance with these Terms. Bitzaro’s responsibility shall be limited to using reasonable technical efforts to ensure the receipt of the digital currencies transferred.
  • To the extent permitted by law, Bitzaro is not responsible for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered is caused by a breach of these Terms.
  • Bitzaro also is not responsible for: (i) the delay in the processing of payments made by the fault of any third parties, the Partners, or operators of such transactions, (ii) any malfunction, breakdown, delay, or interruption, including but not limited to, caused directly or indirectly by blockchain environment and its processes, nodes, etc., and/or caused by the Internet connection or any reason why our Services are unavailable at any given time.
  • In the case of fraud, Bitzaro undertakes to report all the necessary information, including names, addresses, and all other requested information, to the relevant authorities dealing with fraud and breaches of the law.
  • Bitzaro exchange rate for buying or selling cryptocurrency is based on the rate that the crypto exchanges or liquidity providers offer Bitzaro at the time. It is a variable exchange rate and, which means it is constantly changing.

THE USER’S RIGHTS, RESPONSIBILITIES, AND WARRANTIES

  • The User shall be obliged to provide Bitzaro with at least one number of the payment card from which the deductions for the purchased cryptocurrencies will be made.
  • The User has the right to use the Services, as long as he/she agrees to and actually complies with the Terms. By using the Services, the User agrees to accept and comply with the terms and conditions stated herein.
  • The User accepts and confirms that he may not withdraw or cancel any given instruction in connection with the ordered Services if those have already been performed. The User will be entitled to the exact denomination of cryptocurrency he/she has instructed Bitzaro to buy. Bitzaro assumes no volatility risk that may be associated with the cryptocurrency purchased, sold, or converted for the User, and as such Bitzaro will settle the agreed-upon denomination of said cryptocurrency irrespective of what its price may be at a future date.
  • The User must comply with any and all applicable laws and regulations related to the use of the Services.
  • The User undertakes not to use the Service to perform criminal and/or illegal activity of any sort, including but not limited to, money laundering, illegal gambling, and non-regulated forex operations, financing terrorist organizations, or malicious hacking.
  • The User is responsible for any and all damages caused, and all liability actions brought against Bitzaro for infringement of any third-party rights or violation of any applicable laws. Nothing in the Terms excludes or limits the liability of the User for fraud, penalties, any other negative consequences, caused by their negligence, breach of the terms implied by operation of law, or any other liability which may not be limited or excluded by law.
  • Users are solely responsible for determining whether any contemplated transaction is appropriate for them based on their personal goals, financial status, and risk tolerance.
  • The User represents and warrants that he/she will only use the Services to perform transactions in accordance with the conditions set forth in these Terms and that they are duly authorized.
  • The User understands that his personal data may be shared due to legal obligations etc. It may be used according to our Privacy Policy

LIMITATION OF LIABILITY

In no event shall Bitzaro, its officers, directors, employees, agents, and all third party Service providers be liable to the User or any other person or entity for any direct, indirect, incidental, special, punitive or consequential damages whatsoever, including any that may result from (i) accuracy, completeness or content of this Site, (ii) accuracy, completeness or content of any sites linked (through hyperlinks, banner advertising or otherwise) to this site, (iii) the services found at this Site or any sites linked (through hyperlinks, banner advertising or otherwise) to this Site, (iv) third-party conduct of any nature whatsoever, (v) any unauthorized access to or use of our servers and/or any and all content, personal information, financial information or other information and data stored therein, (vi) any interruption or cessation of services to or from this site or any sites linked (through hyperlinks, banner advertising or otherwise) to this site, (vii) any viruses, worms, bugs, trojan horses or the like, which may be transmitted to or from this Site or any sites linked (through hyperlinks, banner advertising or otherwise) to this Site, (viii) any user content or content that is defamatory, harassing, abusive, harmful to minors or any protected class, pornographic, “x-rated”, obscene or otherwise objectionable and/ or (ix) any loss or damage of any kind incurred as a result of the user’s use of this site or the services found at this site, whether based on warranty, contract, tort or any other legal or equitable theory and whether or not Bitzaro is advised of the possibility of such damages. in addition, you specifically acknowledge and agree that any cause of action arising out of or related to this site or the services found at this site must be commenced within one (1) year after the cause of action accrues, otherwise such cause of action shall be permanently barred. The foregoing limitation of liability shall apply to the fullest extent permitted by law and shall survive any termination or expiration of these terms of use or the user’s use of this Site or the Services found at this Site.

If Bitzaro is unable to perform the Services outlined in the Terms due to factors beyond its control including but not limited to the event of Force Majeure, change of law, or change in sanctions policy, Bitzaro will not have any responsibility to the User with respect to the Services provided hereunder and for a time period coincident with the event.

INTELLECTUAL PROPERTY RIGHTS

The trademarks, trade names, service marks, and logos of Bitzaro and others used on the Site (hereinafter the “Trademarks”) are the property of Bitzaro. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video, and audio materials used on this Site belong to Bitzaro. The Trademarks and other content on the Site may not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected, or distributed in any form or by any means, no matter manual or automated. The use of any content from the Site on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, patent, trademark, and any other applicable laws and could result in criminal or civil penalties.

COMPLAINTS

Bitzaro shall process the complaints lodged by the User concerning Services provided by Bitzaro.

The User may send to Bitzaro any complaints regarding the Service provided by Bitzaro electronically, to the email address: [email protected]

The complaints concerning Services should be lodged promptly after the arising of the circumstances which cause reservations.

The User who lodged the complaint is required to provide:

  • identification data: name and surname, postal address (or name of a company and its registered address) and date of using the Services,
  • a detailed description of the subject of the complaint;
  • indication of the demand;
  • reply address where the complaint answer should be sent.

The complaint should be accompanied by copies of the documents to which the complaint relates.

The deadline for examining the complaint shall run from the moment of receipt of the complaint by Bitzaro, including the documents and the data referred to in these Terms. Bitzaro shall respond to the complaint in writing or, upon agreement with the User, or on another durable medium (e.g. electronically, to the email address from which the complaint has been sent). Answers to the complaint shall be prepared and transferred to the User without unnecessary delay.

CANCELLATIONS AND REFUNDS POLICY

By using Bitzaro Services, you agree to the following dispute/chargeback policy:

  • Bitzaro provides its Services over the Internet. Given the specific nature of these Services, User cannot return or exchange products, nor cancel or withdraw from the Services.
  • The practice of claiming a refund or requesting a chargeback after having used any of our Services is considered fraudulent.
  • When Bitzaro receives a chargeback notice, the account in which the Service was purchased is immediately suspended.
  • User can request a refund of his money 100% if he did not perform or ordered Services. For a refund, the User must email us and give the reason. Please contact our Support ([email protected])

We encourage the User to contact us first for any problems with the User’s ordered Service. Please contact our Support ([email protected]) if you need help or still have any questions.

FRAUD INVESTIGATION POLICY

The User has to report fraud, related to certain operation(s)/asset(s) to the Bitzaro’s legal department [email protected]

Bitzaro will freeze suspicious of fraud asset(s) and/or will cancel suspicious of fraud operation(s) and/or will transfer stolen funds to the proper owner only based on the final resolution in written of the appropriate competent authorities (courts etc.) or based on the Bitzaro’s internal KYC/AML procedures.

SUSPENSIONS, TERMINATION AND CANCELLATION

  • Bitzaro may: (a) refuse to complete, or block or cancel your order,(b) suspend, restrict, or terminate your access to any or all of the Bitzaro Services, and/or (c) deactivate or cancel your Bitzaro Account with immediate effect for any reason, including but not limited to where:
  • we reasonably believe that we need to do so in order to protect our reputation;
  • we are, in our reasonable opinion, required to do so by applicable law, regulation or any court or other authority to which we are subject in any jurisdiction;
  • we reasonably suspect you of acting in breach of this Agreement;
  • we have concerns that a transaction is erroneous or about the security of your Bitzaro Account or we suspect the Bitzaro Services are being used in a fraudulent or unauthorized manner;
  • we suspect money laundering, terrorist financing, fraud, or any other financial crime;
  • use of your Bitzaro Account is subject to any pending litigation, investigation, or government proceeding and / or we perceive a heightened risk of legal or regulatory non-compliance associated with your Bitzaro Account activity; and / or
  • you take any action that may circumvent our controls such as opening multiple Bitzaro Accounts or abusing promotions which we may offer from time to time.
  • you fail to provide on request such documentation as Bitzaro (or any third party whose services we use in providing the Services to you under this Agreement) reasonably requires in order to comply with its obligations under applicable money laundering laws and regulations or otherwise to ensure the verification of your identity and/or funding sources to Bitzaro satisfaction.
  • any Cryptocurrency Purchase that is significantly larger in size compared to previous orders;
  • Bitzaro reasonably believes that it is necessary or desirable to do so in order to protect the security of the Account, including circumstances where any Account Details may have been lost or stolen.
  • In the case of any such suspension, Bitzaro shall make reasonable efforts to inform you about the withholding or suspension, provided that such disclosure:
  • is not in breach of any applicable law or regulation and does not contravene the instruction of any competent authority or regulator; and
  • would not compromise Bitzaro’s reasonable security measures.
  • Bitzaro shall not be liable to you for any losses you may suffer as a result of any reasonable action it takes to suspend the Account or withhold settlement of a Cryptocurrency Purchase in accordance with this clause.
  • Where the reasons for Bitzaro’s actions under this clause cease to exist, Bitzaro may, at its discretion, either reinstate access to the Account and the Services and/or issue the Customer with new Account Details and reserves the right to ask you to re-complete the account opening procedures as outlined in these Terms and to resolve any open issues with your account before a restriction can be removed.

We may suspend, restrict, or terminate your access to any or all of the Bitzaro Services and/or deactivate or cancel your Bitzaro Account, without reason by giving you one months’ notice. You acknowledge that our decision to take certain actions, including limiting access to, suspending, or closing your Bitzaro Account, may be based on confidential criteria that are essential for the purposes of our risk management and security protocols. You agree that we are under no obligation to disclose the details of its risk management and security procedures to you.

NOTICE

We may (where allowed to do so by law) communicate with you by posting information in your Account or on the Website, in which case the information will be treated as received by you when it is posted by us.

We may also contact you at the postal or email address you provide us with when applying to open your Account. Notices sent by email will be deemed to have been received at the time of transmission as shown by the sender’s records (or if sent outside business hours, at 9 am on the first Business Day following dispatch). Notice sent by post will be deemed to have been received on the second business day after posting.

FORCE MAJEURE

No party will be in breach of this Agreement nor liable for any failure to perform its obligations under this Agreement if that failure results from circumstances beyond its reasonable control.

FINAL PROVISIONS

The Terms shall apply during the effective term of the Contract / Terms, or during the effective term of using Services (if no contract has been signed). If you have any questions relating to these Terms, your rights and obligations arising from these Terms and/or your use of the Site and the Service or any other matter, please contact us via email: [email protected]

Governing Laws & Jurisdiction:

This term of use and any dispute or claim (including any non-contractual obligations arising out of or in connection with it) are governed by the laws of the Czech Republic.

Each party irrevocably agrees that the courts of the Czech Republic shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this Agreement, its subject matter, or formation.

KYC REQUIREMENTS:

End-user know-your-customer (KYC):

  1. Level 1:
    The initial customer identification, in which the customer’s identity is used for checking and recording of identification and other data of the customer. The initial identification of a customer is performed remotely. The customer submits their documents and completes email verification and liveness check via our application. Moreover, the initial identification of a customer always includes:
    • Established whether the customer is a PEP or not
    • Establishment whether the Czech Republic applies international sanctions towards the customer
  2. Level 2:
    In this level, the customer’s address and location are verified. This level includes a confirmation of the data’s accuracy and its compliance with AML rules and a better understanding of our customer’s identity.
  3. Level 3:
    In this level, the customer’s source of wealth is verified.
    This level is implemented by the customer through our application. It includes checking to confirm the accuracy of the data and its compliance with our AML and CTF rules and regulations, assessing risk, and preventing fraudulent activities.

Entity KYB:

This level includes verification of the company’s information and legalization of the directors. It includes information related to registration, authorized personnel, business address, source of wealth, and others. It also involves information related to the expected transaction volume using this account to prevent fraudulent and suspicious transactions, gain a better understanding of our customers, and assess risk.

WITHDRAWAL & REFUND POLICY:

  1. A confirmed order cannot be terminated or reversed.
  2. Any and all confirmed orders are not eligible for refunds.
  3. Once a confirmed order has been executed (virtual assets sent to the designated Cryptocurrency Wallet address), the transaction is irreversible.
  4. Users may be entitled to a refund under the exclusive circumstances described below:
    • In the event that a technical failure of Bitzaro leads to an unsuccessful transaction.
    • An unsuccessful transaction can be defined as the instance where a user does not receive the purchased FIAT currency or Cryptocurrency within two business days of placing an order, and the transaction hash of the transaction on the blockchain is unavailable.
  5. If an order placed by a user is incomplete or incorrect — such as inaccurate data provided, an apparent mismatch, or other suspicious circumstances — the transaction is considered refundable. In the event a transaction is deemed high-risk (involving stolen funds, terrorist financing, money laundering, etc.), Bitzaro reserves the authority to freeze the funds or cryptocurrency for detailed investigation.
  6. To initiate a refund request, the user is required to send an email to [email protected]. The refund request shall only be sent from the User’s email linked to their Bitzaro account.
  7. Please note that for some alternative payment methods (APMs), a refund fee may be imposed. The fee varies depending on the payment method and currency. If the particular APM does not support refunds, we may request your bank details for a refund.
  8. If a User has not been notified of the unsuccessful transaction by Bitzaro, the User may contact Bitzaro by email at [email protected], and a member of the Bitzaro support team will provide the Transaction hash or a notice of refund initiation.
  9. Refund requests will be accepted within one (1) calendar month from the moment of fund transfer. After this period expires, Bitzaro does not guarantee the return of funds. This provision is in place to effectively manage requests and maintain transparency in the refund process. Bitzaro reserves the right to decline requests received after this period, except when such rejection is based on serious Service interruptions. After the specified timeframe, the Service shall not be liable for fund returns.
  10. Generally, Bitzaro will process the refund within 5 days. The processing of returning Fiat currency to the User’s bank account may take up to 30 days, depending on the User’s bank.