Terms and Conditions

1. General Provisions

1.1. Paynamic operates as a cryptocurrency exchange platform under the ownership of Paynamic Sp. z o.o. (referred to as the "Company" or “Paynamic”), a Polish entity with its registered office at ul. Ujazdowskie 41, 00-540 Warsaw, Poland. The terms "we," "us," or "our" in these Terms pertain to the Company.

1.2. By accessing the Paynamic website at https://paynamic.io (referred to as the "Website"), accessing the Paynamic Platform (referred to as the "Platform") through mobile devices or other connectivity channels provided by the Company, signing up for Paynamic, and/or creating an account or utilizing Paynamic services (collectively referred to as the "Services"), you, as the Company's client (referred to as the "Client," "you," or "your"), agree to abide by these terms and conditions. These terms constitute a legal agreement and establish a binding contract between you and the Company, inclusive of any future revisions published by the Company (referred to as the "Terms" or "Agreement"). The relationship between the Company and the Client concerning the provision of Services is governed by these Terms, legal acts, Supplements to the Agreement executed with the Client, and the applicable rules and principles of prudence and justice.

1.3. Paynamic Sp. z o.o. is subject to regulation and provides its Services in compliance with the laws of Poland.

1.4. Paynamic Services encompass various offerings provided to you through the Paynamic Website and mobile applications. These services include, but are not limited to, cryptocurrency trading and exchange services facilitating the purchase and sale of virtual currency (as defined herein) by the Client, along with other supplementary services offered by Paynamic.

2. Amendments to the Terms & Conditions

2.1. The Company retains the right to exercise its discretion in modifying and revising any provisions within these Terms at any time. This includes, but is not limited to, adjustments prompted by legal and regulatory alterations, security considerations, or modifications to the Services.

2.2. Unless expressly stated otherwise in these Terms, the Company will inform you of any such amendments, modifications, updates, or changes by issuing a revised version of these Terms on the pertinent page of the Website. Alternatively, notification may be conveyed through email, at our sole discretion. In the absence of specific instructions in these Terms, the effective date of any new version of these Terms is upon its publication on the Website. Your continued utilization of Paynamic Services signifies your acceptance of the revised Agreement.

3. Paynamic Account Registration

3.1. Clients seeking to utilize Company Services must undergo the registration process to establish a Paynamic account (referred to as the "Account").

3.2. The Paynamic Account is individual, and only the designated owner, i.e., the Client, is authorized to access it (log in).

3.3. Each Client is limited to possessing a single Account. In the event of suspicion that a Client has opened multiple accounts, the Company reserves the right to close the Client's Accounts or terminate the Agreement without prior notice.

3.4. To register and utilize Company services, the Client must be at least eighteen (18) years old (or of legal age in their jurisdiction).

3.5. The Company does not provide Services to Clients:

• From countries subject to financial sanctions imposed by Poland and according to FATF recommendations.

• From Restricted Territories as defined in Section IV clause

• Whose accounts have been previously suspended or removed from using our Services.

3.6. The Client affirms the accuracy of the information provided during registration and commits to providing only accurate data when modifying or adding information about themselves. The Client is accountable for any losses arising from the submission of inaccurate data.

3.7. In accordance with the Agreement or Paynamic System, the Client must undergo identification (verification) to initiate or continue the provision of Services. Registration at Paynamic requires the submission of name, surname, email, and phone number. Additionally, completion of the KYC form involves providing identification documents such as a passport, ID card, or driving license, along with a utility bill (Proof of Address) in some cases. A photograph of the Client holding the submitted identification document next to their face is also required. If the Client's turnover at the Company account exceeds EUR 15,000.00, proof of the Client's source of funds is requested.

3.8. The Company retains the right to request data and/or documents for Client identification at any time. The specific requirements will be communicated to the Client in a message regarding the necessity of the identification procedure.

3.9. The Company may request personal information from the Client, including but not limited to name, address, telephone number, email address, date of birth, source of funds, financial standing, and occupation. Verification may involve additional documents such as a government-issued identity card, proof of address like a utility bill, and proof of the payment method. The Company may, at its discretion, terminate the account and these Terms if the documents or verification yield a negative or uncertain conclusion or if the Client is suspected to be under the age of 18 years.

3.10. Confirmation of the Account will be communicated to the Client via email at the provided email address during registration.

3.11. The Company reserves the right to rectify Client-entered data based on information provided by the Client, limited to errors consisting of 1-2 signs. Requests for identification may be rejected if the personal information entered significantly differs from the information in identity documents. If inaccurate information results in the creation of multiple Accounts, the Client must notify the Company to consolidate all Accounts into one.

4. Eligibility

4.1. The Services are exclusively accessible to individuals who are at least 18 years old (or meet the legal age requirement in their jurisdiction). The Client affirms and assures that, if an individual, they are at least 18 years old and legally eligible in their jurisdiction to enter into a binding contract. Additionally, the Client asserts that all submitted registration information is accurate and truthful.

4.2. The Client is prohibited from utilizing the Services, Platform, and/or the Website if located or residing in a geographical area where access to or use of the Services, the Website, and/or the Platform is forbidden by applicable law, decree, regulation, treaty, or administrative act. This includes, but is not limited to, territories such as the United States of America, Kuwait, Qatar, Saudi Arabia, Serbia, Turkey, United Arab Emirates, Bahrain, Bangladesh, Egypt, Ethiopia, Jordan, Lebanon, Libya, Mali, Mauritius, Morocco, Myanmar, Oman, Somalia, Sri Lanka, Trinidad & Tobago, Tunisia, Afghanistan, Algeria, Indonesia, Malaysia, Nigeria, North Korea, South Sudan, Sudan, Yemen, Iran, Iraq, Occupied Palestinian Territories, Pakistan, Syria, Vanuatu, Russian Federation, Crimea and Sevastopol, Donetsk People’s Republic, and Luhansk People’s Republic of Ukraine ("Restricted Territories"). Additional geographic areas may be subject to partial restrictions, as communicated by the Company as necessary. The list of Restricted Territories may be revised periodically due to factors such as licensing requirements and other legal and regulatory changes.

4.3. In adherence to Section IV clause 2, the Client is prohibited from using the Services where such usage is forbidden by law or regulation.

4.4. The Client acknowledges and agrees that Paynamic is unable to offer any legal advice or assurances regarding the legality of the Services in the Client’s jurisdiction. Paynamic explicitly disclaims any representations regarding the legality of the Services in the Client’s jurisdiction.

5. Account Opening

5.1. Pursuant to this Agreement, a Company Account is established for the Client on an indefinite basis.

5.2. In the event of the termination of the Agreement by either the Client or the Company, or if the Company ceases to provide the Company Account service to the Client, any funds held in the Client's Account will be transferred to the Client's designated bank account or another payment system account specified by the Client (with the exception of any third-party accounts; withdrawals, refunds, or returns to such accounts are not supported). The Company reserves the right to offset from the repaid funds any amounts owed to the Company. In the case of a dispute between the Company and the Client, the Company retains the right to withhold funds under dispute until the resolution of the dispute.

6. Usage of Paynamic Account

6.1. The Client has the ability to manage their Company Account through the Internet by logging in with their designated username and password. The Client is required to create a robust password unique to the Paynamic platform and not used for any other online services.

6.2. The Paynamic Account empowers the Client to place orders (referred to as "orders") to buy and/or sell virtual currency. If the Client provides incorrect data about the Recipient of virtual and/or fiat currency, it is deemed that the Company has fulfilled its obligations adequately, and the transferred amount will not be reimbursed to the Client. The Client can only cancel an order initiated via the Services before the Company executes the transaction. Once an order is executed, the Client is unable to alter, withdraw, or revoke authorization for Paynamic to complete the transaction.

6.3. In the event that virtual and/or fiat currency is credited to the Client's Paynamic Account mistakenly or without legal basis, the Company holds the right, and the Client provides irrevocable consent, to deduct the currency from the Client's Paynamic Account without the Client's directive. If the credited amount exceeds the currency available in the Client's Paynamic Account, the Client commits to repaying the mistakenly credited amount to the Company within three business days of receiving the request from the Company. Should the Client observe the transfer of virtual and/or fiat currency not belonging to them, the Client must promptly inform the Company and has no right to manage currency credited by mistake. The Client is obligated to return mistakenly credited currency to the Company

6.4. The Client affirms that:

• Incoming virtual and/or fiat currency to their Account is not derived from illegal activity.

• The Services provided by the Company will not be used for illegal purposes, with the commitment to refrain from actions to legitimize money acquired through criminal or illegal activities.

• The use of Services, Platform, and Website is at the Client's own discretion and risk.

• Involvement with high-risk assets like Bitcoin or other cryptocurrencies carries significant risks, and neither the Company nor its staff are liable for any losses incurred by the Client using the Paynamic Platform, Services, or Website.

• They are responsible for the security of their private key, username, and password on their PC or internet access location. If the username-password combination is compromised due to viruses or malware, the Client bears sole responsibility and must report any hacking attempts or security breaches promptly to Paynamic. Additional verification may be required for investigation and resolution.

• The personal (external) virtual wallet address for the transfer of Cryptocurrency by the Company belongs to and is owned by the Client.

• During maintenance of the Paynamic System, the Client acknowledges sole responsibility for managing risks associated with their cryptocurrencies

6.5. Client's confirmations, orders, requests, notifications, and other actions performed on third-party websites or other locations by logging into their Company Account and verifying their identity are treated as a deal concluded with an electronic signature.

6.6. Management of the Paynamic Account via the Internet:

• To execute a payment operation online, the Client must fill in the order in the Paynamic System and submit it for execution, confirming their consent to carry out the order electronically.

• Submission of the order in the Paynamic System constitutes the Client's agreement to proceed with the payment operation, which may be cancelled by the Client.

6.7. If the Client reaches a specified limit on a Paynamic Account (as defined by the Company at its discretion), the Client must follow the steps notified by the Company.

6.8. If the Client lacks sufficient Funds in the Paynamic Account to fulfil an order via the Services, the Company cancels the entire order.

7. Paynamic Account Funds

7.1. To initiate an order, the Client must first load Funds into the Paynamic Account using one of the approved External Accounts identified through the Services. The Client may be required to verify the External Account used to load Funds into the Paynamic Account, and the Client is solely responsible for complying with all terms and conditions applicable to any External Account.

7.2. The timing of a load transaction depends, in part, on the performance of third parties responsible for maintaining the relevant External Account. Paynamic makes no guarantee regarding the duration it may take to load Funds into the Paynamic Account.

7.3. The Company retains the right to record and store any orders submitted via agreed-upon methods and to record and store information about all transactions performed by the Client or in accordance with the Client's orders. Records mentioned in this clause may be provided by the Company to the Client and/or third parties authorized to receive such data under the basis set forth in legislation, serving as evidence confirming submitted orders and/or executed transactions.

7.4. The Company reserves the right to refuse the execution of a submitted order if there are doubts regarding the legitimacy of the order or the authenticity of submitted documents. In such cases, the Company may demand additional confirmation of the order or submission of documents confirming the right of persons to manage the Funds on the Account. The Company acts to protect the legal interests of the Client, Company, and/or other parties; thus, the Company does not assume responsibility for losses that may arise due to the refusal to execute the submitted order.

7.5. Before executing a Payment order submitted by the Client, the Company may request documents proving the legal source of money related to the order. Failure to submit such documents gives the Company the right to refuse the execution of the Client's order.

7.6. The Company has the right to suspend and/or cancel the execution of a Client's order if required by applicable legal acts or due to reasons beyond the control of the Company.

7.7. If the Company refuses to execute a Client's order, the Client is promptly informed, and a notification is sent to the Client, unless such notification is technically impossible or prohibited by legal acts.

7.8. The Company does not accept or execute orders from the Client to perform operations on the Client's Account if the money on the Account is subject to legal limitations, the Client's right to manage the money is legally restricted, or if operations performed by the Company are suspended under applicable legal acts.

7.9. If Funds transferred by the order are returned due to reasons beyond the control of the Company (e.g., inaccurate data in the Payment order, closure of the Recipient's account), the returned amount is credited to the Client's Account. Fees paid by the Client for the execution of the order are non-refundable, and other fees and costs related to the return of money and applied against the Company may be debited from the Client's Account.

7.10. Client transactions are subject to monitoring. The Client must provide the Company with all necessary information concerning completed payment operations within 3 (three) working days of receiving a respective request. Failure to provide requested information may result in the suspension of Services or the termination of the Agreement.

7.11. The Company may review Client's withdrawal transactions to mitigate risks, prevent money laundering, and ascertain whether the transaction is connected to any Prohibited Activity (as defined in Section XI). If risks are identified, the Company reserves the right to refuse the Payment Order.

7.12. The Client agrees to maintain a sufficient amount of Funds in the Paynamic Account to meet the minimum balance required for transactions. The Client acknowledges that insufficient Funds will result in the non-processing of transactions.

7.13. Only valid payment methods specified by Paynamic may be used for Company Services.

7.14. All exchanges of fiat and virtual currency via Paynamic Service are final. The Company does not accept returns or provide refunds for the Client, except as otherwise provided in these Agreements.

7.15. Transactions will be reflected on bank or card statements with the billing descriptor "Paynamic.

8. Services, Service Fee, and Settlement Procedure

8.1. Through the Website, the Client can avail themselves of trading services (buying and/or selling) virtual currency such as BTC, TRX, USDT (“Cryptocurrency”), including in exchange for fiat currency (EUR, USD).

8.2. The rate at which the Company exchanges Cryptocurrency shall be determined in accordance with clauses below.

8.3. The Client’s utilization of the Services is subject to the Company’s KYC process and its completion to the Company’s satisfaction. The Company may store such data on its systems for future use and verification.

8.4. For current details on minimum order sizes for Cryptocurrency purchases via bank transfer or payment card, please refer to the comprehensive table on our Pricing page. Continued use of the Services indicates acceptance of any adjustments made to these minimums upon their publication on the Website.

8.5. Detailed information on Service Fees, including fees for purchasing Cryptocurrency via VISA/MasterCard, can be found on our Pricing page.

8.6. For up-to-date information on Service Fees related to selling Cryptocurrency, including SEPA transaction fees, please consult the table provided on our Pricing page.

8.7. Changes in the Services Fees will be effective upon publication on the Website, and the Client’s continued use of the Services will be deemed acceptance of such changes.

8.8. Following the Client’s payment of fiat currency being received by Paynamic, subject to the provisions of the Terms, the Company shall deliver to the Client’s external virtual wallet address. IMPORTANT: The Client confirms that the provided wallet is their personal wallet, double-checked all payment details, and acknowledges that Paynamic is not responsible for any losses incurred due to incorrect input of the wallet address.

8.9. The Client acknowledges and agrees that it is at the Company’s sole discretion whether to

• Provide the Client with the Services; and/or

• Reverse any of the Client’s orders and/or transactions.

For example, to provide liquidity for its users, Paynamic trades cryptocurrency with other cryptocurrency exchanges. In the event of insufficient liquidity for a certain Cryptocurrency, Paynamic may pause, decline, or reverse the Client’s order for purchasing such Cryptocurrency.

8.10. The Client acknowledges that certain limits may apply to the sale of Cryptocurrency to the Client, in accordance with the Company’s policies, including volume and KYC process. The Company reserves the right to change such limits at its sole discretion, including order limits per day and/or per month.

8.11. The Company reserves the right to refuse to process, or to cancel or reverse, any order for the exchange of Cryptocurrency from the Client, at its sole discretion. Reasons may include the Client's possession of insufficient fiat currency, and/or if transferring fiat currency is not possible, even after funds or Cryptocurrency have been debited from the Client's Account.

8.12. The Company reserves the right to process the Client's order if the amount of fiat currency received to the Company's bank account is different from the order amount, but only if the difference is not more than EUR 20.00. If the discrepancy exceeds EUR 20.00, the Company will contact the Client via email, requesting to place an order with the correct sum. If there is no response from the Client within 3 business days, or if the Client refuses to place a correct order, the Company will issue a refund, directing the transfer back to the original sender, using the Client's bank details.

8.13. The Client acknowledges and agrees that after making the first payment, they will have 48 hours to complete the verification. In case of refusal or expiration of the specified period, the Company will return the money to the Client's Account.

9. Exchange Price of Cryptocurrency

9.1. All exchange prices of Cryptocurrency shall be quoted in the relevant currency as determined by Paynamic.

9.2. You acknowledge and agree that any price or rate of Cryptocurrency appearing on the Website, at which Paynamic exchanges Cryptocurrency, is accurate only for that specific moment. This accuracy is due to the highly volatile nature of Cryptocurrency prices and the time required to complete the transaction. The duration of this period may vary based on the payment method and third-party payment processors used by you or by us. The Final Price of your transaction will be the rate displayed on the Website upon execution and as stated in the order transaction summary, subject to the deduction of the Transaction Fee.

9.3. You comprehend and agree that the Final Price may be either higher or lower than any other rate previously available on the Website. This fluctuation is in accordance with changes in value, which may occur either in your favor or ours. Importantly, we have no control over such changes.

10. Submission and Cancellation of the Consent, Cancellation of the Order. Refund Policy

10.1. The authorization of a payment operation occurs only after the Client provides Consent. The Consent can be confirmed through an electronic signature, password, or descriptor provided to the Client when the payment appears on the Client's bank card statement. Consent confirmed via any method described in this clause is considered valid, holds the same legal weight as a paper document (Consent) signed by the Client, and can be used as evidence in dispute resolution between the Company and the Client in legal proceedings and other institutions. The Client forfeits the right to dispute a payment operation performed by the Company if the payment order has been confirmed by a Consent submitted through a method defined in this clause.

10.2. The Client agrees that the Company, while executing the payment operation, may transfer the Client's personal data to entities directly involved in the execution of the payment operation, including international payment card organizations and other banks/companies participating in the payment service.

10.3. Should the Client wish to return purchased Cryptocurrency from Paynamic, the Company, at its discretion, may buy it back based on the current market rate minus the Services Fee. To initiate a refund, the Client must contact Paynamic via email at [email protected]. The Client is required to provide all necessary documents requested by Paynamic, such as identification documents, and sign a refund invoice issued by the Company.

10.4. The refund policy applies solely to funds sent to Paynamic in accordance with the order placed on the platform. Cryptocurrency purchases made through other exchange platforms will not be refunded.

10.5. For wire transfers or card payments, the Company may, in rare circumstances and at its discretion, execute the sale of cryptocurrency funds on behalf of the Client and provide an equivalent return in fiat currency, subject to changes in the interest rate. The amount returned to the Client in fiat may differ from the initially sent amount, given the high volatility of crypto assets.

10.6. Paynamic reserves the right to cancel wire transfer orders under specific circumstances, including failure to provide required KYC documents, sharing login data, or order cancellation by the Client.

10.7. Refunds will be made to the same source from which the funds originated, after deducting any associated costs incurred by Paynamic. The Company may, at its discretion, return funds to another source belonging to the Client, provided the necessary documents are provided.

10.8. To comply with regulations and prevent prohibited conduct, Paynamic may verify payments and related information, requesting documents and information from the Client, as deemed necessary.

10.9. Paynamic reserves the right to cancel orders without refund or decline refund requests if fraudulent or illegal activity is suspected.

10.10. When a payment is made via credit or debit card, processing and order settlement take up to 72 hours, subject to system workload.

10.11. Refunds will be processed promptly, within 7 business days of order cancellation, subject to the requirements outlined and provided the Client fulfills all information and documentation requests from Paynamic.

10.12. Paynamic offers clients the option to address issues with the company's services before filing a written complaint with their bank. In case of suspicious activity, Paynamic may suspend account activity for an internal investigation.

10.13. Any fees incurred as a result of a refund request, such as transfer fees, are the responsibility of the Client.

11. Prohibited Activities

11.1. When using Company Services, the Client is prohibited from:

• Failing to observe the Agreement, any of its Supplements, valid legislation, and other legal acts, including, but not limited to, legal acts related to anti-money laundering and combating terrorist financing.

• Providing false, misleading, or incorrect information to the Company.

• Refusing to provide information reasonably requested by the Company.

• Transferring and/or receiving money acquired in an illegal manner.

• Refusing to cooperate with the Company in the investigation of violations and identification of the Client.

• Using the Account and other Services of the Company in a way that causes losses, responsibility, or other negative legal consequences to the Company or other third persons.

• Undertaking any other deliberate actions that could disturb the provision of Company Services to the Client or third parties or disturb the proper functioning of the Company System.

• Providing services that are prohibited by law or conflict with public order and good morals.

• Disclosing passwords and other personalized safety features of payment instruments and the Account to third persons and allowing other persons to use Services under the name of the Client.

• Breaching any law, statute, contract, regulation (including anti-money laundering).

• Accessing the Services from a country where Services are not provided by the Company, according to Section IV clause 2 above.

• Using an anonymous Account.

11.2. The Client shall reimburse all direct damages, fines, and other monetary sanctions applied to the Company due to the failure to observe or violation attributable to the fault of the Client.

12. Sending Notifications, Communication

12.1. The Client confirms agreement with the provision of notifications by the Company to the Client by publishing them on the Website and sending them via the email address indicated by the Client during registration in the Paynamic System.

12.2. The Company shall have the right to adjust its commission and fees in accordance with any changes in fees charged to the Company by a third party. The Company will use commercially reasonable efforts to inform the Client of any such fee changes at least thirty (30) calendar days prior to the fee changes taking effect, unless the Company has been notified by the third party of said changes within a shorter timeframe or is required to pay such charges in a shorter timeframe.

12.3. The Client undertakes to check their email inbox and other instruments used for the reception of notifications indicated on the Account at least once a business day, to notice notifications about changes in the Agreement in time.

12.4. The Client must renew the contact data (telephone number, email address, and post address) on their Account within 1 working day. If the Client fails to renew the contact data on their Account, all consequences due to the failure of the Company to submit notifications to the Client shall fall on the Client.

12.5. The Client shall immediately inform the Company about theft or other loss of their personal identity document.

12.6. The Parties shall immediately inform each other about any circumstances significant for the execution of the Agreement. The Client shall submit documents substantiating such circumstances (e.g., changes in the name, surname, signature, address, phone number, other contact data, personal document, initiation of bankruptcy proceedings against the Client, etc.), whether this information is already transferred to public registers or not within 10 (ten) working days from the date of change.

12.7. If the Client provides the Company documents that do not comply with requirements set by the legal acts and/or Company, or reasonable doubts arise to the Company about the authenticity or correctness of submitted documents, the Company has the right to refuse to execute Payment orders submitted by the Client, suspend provision of other Services, and/or demand from the Client to submit additional documents.

12.8. The Client has the right to learn valid amendments of the Agreement, its Supplements, and Pricing on the Company Website at any time.

13. Suspension of Service Provision. Termination of the Agreement (Removal of the Account)

13.1. The Company has the right to unilaterally and without prior warning apply one or several of the following measures:

• Suspend execution of transfers.

• Suspend provision of all or part of Services to the Client.

• Limit Client's access to the Account.

• Detain Client's money which has caused a dispute.

• Fully or partially suspend payment operations on the Account and/or the payment instrument.

• Refuse to provide Services.

• Return arrested funds on the Account of the Client to the primary sender of funds.

13.2. In this case, if the funds of primary senders are arrested on the Account of the Client, and if the Client does not perform requested actions (additional identification of the Client, submitting requested documents) within the set time period or if the Client does not submit a reasoned explanation of the indicated case, the arrested funds shall be returned to the primary sender.

13.3. In case the Company has reasonable suspicions that the Client is engaged in money laundering, financing of terrorism, or other criminal activity, the Company has the right to suspend provision of Services without providing the Client with an explanation or notification until reasonable suspicions are fully denied or proved.

13.4. The Account and/or the payment instrument can be blocked at the initiative of the Client if the Client submits a request to the Company and informs the Company that the Payment instrument of the Client has been stolen or lost in another way, or money on the Account and/or the payment instrument is used or may be used in another illegal manner.

13.5. The Client has the right to terminate the Agreement unilaterally without appealing to the court, but must notify the Company thereof in writing 30 (thirty) calendar days in advance. If the Client terminates the Agreement, any money left on the account will be returned to the same Client account from which it was withdrawn.

13.6. Upon request from the Company, the Agreement and its Supplements may be terminated immediately if no operations have been made on the Client's Account for more than a year.

13.7. Termination of the Agreement does not exempt the Client from the appropriate execution of all responsibilities to the Company, which have arisen until the termination.

13.8. The Company shall have the right to terminate any existing business relationships between the Company and Client and to close any existing Account without any prior notice if:

• The Client has failed to furnish or has furnished false, incorrect, or incomplete information regarding their identity or the origin of their funds.

• The Client is, or has been, connected with or suspicion arises to the Company that the Client is connected with money laundering and/or terrorist financing or performance of fraudulent activities.

• The Company has suspicion that the Client is using, has used, or has attempted to use the Account for conducting any unlawful activities, including for money laundering or terrorist financing related operations, as well as for any activities aimed at circumventing international sanctions, restrictions, or prohibitions or national sanctions or any other restrictions.

• The Company is in possession of information about the Client’s reputation that may have a direct or indirect impact on the operations of the Company or may cause unfavorable implications for the Company.

• The Company, supervisory authority, any government institution, international organization, or bank partner urges termination of the business relationship with the Client.

• The Client does not submit the information requested by the Company or required under applicable laws.

14. Confidentiality and Data Protection

14.1. The Parties undertake to protect each other's technical and commercial information, which has become known to them while executing the present Agreement. The Client undertakes not to transfer technical and commercial information of the Company to third parties without written consent from the Company.

14.2. If the Client loses their Account password or other passwords, the Client undertakes to change the passwords immediately or, if they do not have the possibility to do so, notify the Company thereof immediately (not later than within one calendar day). The Company shall not be liable for consequences that have originated due to the notification failure.

14.3. After the Company receives the notification from the Client, it shall immediately suspend access to the Client's Account and provision of the Services until a new password is provided/created for the Client.

14.4. The Company draws the Client's attention to the fact that the email and other instruments linked to the Company Account are used as instruments for communication with the Client and/or Client identification instruments. Thus, these instruments and logins to them shall be protected by the Client. The Client is fully responsible for the security of their email passwords and all the other instruments used by them and their login passwords. Passwords are secret information, and the Client is responsible for its disclosure and for all operations performed after the password used by the Client for the relevant Account or another payment instrument is entered.

14.5. The Parties expressly agree that messages transferred via mail and email can be considered evidence when settling disputes between the Company and the Clients.

14.6. Please read our PRIVACY POLICY for more information regarding confidentiality and data protection.

15. Liability of the Parties

15.1. Each Party is responsible for all fines, forfeits, and losses which the other Party incurs due to a violation of the Agreement made by the guilty Party. The guilty Party undertakes to reimburse direct damage incurred due to such liability to the affected Party. In all cases, the liability of the Company under the Agreement is limited by the following provisions.

15.2. The Company shall only be liable for direct damages caused by a direct and essential breach of the Agreement made by the Company, and only for such damages, which could have been reasonably anticipated by the Company during the breach of the Agreement.

15.3. In all cases, the Company shall not be responsible for the profit and income the Client has not received, loss of the Client's reputation, loss or failure of the Client's business, and indirect damages.

15.4. The Company does not guarantee uninterrupted Paynamic System operation because System operation can be influenced (disordered) by many factors, which are beyond the control of the Company. The Company shall put all efforts to secure as fluent System operation as possible; however, the Company shall not be liable for consequences originating due to System operation disorders.

15.5. The Company is not liable for any of the following types of loss or damage arising under or in connection with these Terms or otherwise:

• Money funds transfer from the Company Account and for other payment operations with money on the Client's Account if the Client has not protected their passwords and identification instruments, and they have become known to other persons, and also for illegal actions and operations of third persons performed using counterfeited and/or illegal documents or illegally received data.

• Errors made by banks, payment systems, and other third persons.

• Consequences which arise after the Company legally terminates the Agreement, cancels the Client’s Account, or limits access to it, also after reasonable limitation/termination of the provision of a part of the Services.

• Any loss of profits or loss of expected revenue or gains, including any loss of anticipated trading profits and/or any actual or hypothetical trading losses.

• Any loss of or damage to reputation or goodwill; any loss of business or opportunity, Clients or contracts; any loss or waste of overheads, management, or other staff time; or any other loss of revenue or actual or anticipated savings.

• Any loss of use of hardware, software, or data and/or any corruption of data; including but not limited to any losses or damages arising out of or relating to any inaccuracy, defect, or omission of digital currency price data; any error or delay in the transmission of such data; and/or any interruption in any such data.

• Any loss or damage whatsoever that does not stem directly from the breach of these Terms by the Company; and/or any loss or damage whatsoever that is in excess of that which was caused as a direct result of the breach of these Terms by the Company (whether or not the Client is able to prove such loss or damage).

• Any loss due to circumstances beyond the control of the Company, such as war or the threat of war, a change of political regime, or other third-party actions.

The Client should be very attentive while specifying the wallet number. In case a typing error was made, and the funds were directed to the wallet that is different from the one belonging to the Client, the transaction is irrevocable. It is suggested to use a wallet that only the Client has access to. The Company does not bear the responsibility for the loss which may result from a typing error and/or the use of a wallet that is accessible to third parties

15.6. The Client is fully responsible for the correctness of data and orders provided to the Company and when filling in documents in the Paynamic System.

15.7. The Client bears all the losses that have arisen due to unauthorized payment operations; these losses have been incurred due to:

• Usage of a lost or stolen payment instrument.

• Illegal acquisition of a payment instrument if the Client has not protected personalized security features (including identity confirmation instruments).

15.8. The Party is relieved from the liability for failure to perform the Agreement if it proves that the Agreement has not been executed due to circumstances of Force Majeure, which are proven in accordance with the procedure established by the law. The Client shall notify the Company about Force Majeure circumstances, which prevent the execution of the Agreement in writing within 10 (ten) calendar days after the day of the occurrence of such circumstances. The Company shall notify the Client about Force Majeure circumstances via email.

15.9. The Client should immediately notify the Company if:

• There has been an unauthorized transaction sent from the Client account.

• There has been unauthorized access to the Client account.

The Company strongly recommends monitoring the Account closely on a regular basis.

16. Risks

16.1. Paynamic shall not be responsible for any damage or loss incurred by the Client as a result of the Services. By accepting the Terms, the Client acknowledges that they have fully read, understood, and are aware of the possible risks related to the Services and electronically signs an agreement with the Company made by these Terms

16.2. The Client confirms that they understand and agree that the risks associated with the Services are acceptable, considering their objectives and financial capabilities.

16.3. The Client acknowledges that purchasing or selling Cryptocurrency carries significant risk. Prices can fluctuate on any given day, and Cryptocurrency may gain or lose value at any time. Cryptocurrency may be subject to large swings in value and may even become absolutely worthless. Cryptocurrency trading has special risks not generally shared with official currencies, goods, or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or commodities such as gold or silver, Cryptocurrency is a unique kind of currency, backed by technology and trust. There is no central bank that can take corrective measures to protect the value of Cryptocurrency in a crisis or issue more currency.

16.4. The Client acknowledges and agrees that Paynamic does not act as a financial advisor, does not provide investment advice services, and any communication between the Client and Paynamic cannot be considered investment advice. The Company provides exclusively the exchange services and does not provide brokerage services to the Clients. Without prejudice to the foregoing obligations, in asking Paynamic to enter into any transaction, the Client represents that they have been solely responsible for making their own independent appraisal and investigations into the risks of the transaction. The Client represents that they have sufficient knowledge, market sophistication, and experience to make their own evaluation of the merits and risks of any transaction and that they received professional advice thereon. Paynamic gives no warranty as to the suitability of the Services and assumes no fiduciary duty in relations with the Client.

16.5. The Client confirms that they understand that for various reasons, their user account may become temporarily suspended and may not be accessible, or the wallet may not be operational. The Client agrees to waive any and all rights, claims, or causes of action of any kind pertaining to any damage as a result of such action.

16.6. Paynamic is not liable for any price fluctuations in Cryptocurrency. In the event of a market disruption, Paynamic may, at its discretion and in addition to any other right and remedy, suspend the Services. Paynamic will not be liable for any loss suffered by the Client resulting from such action. Following any such event, when Services resume, the Client acknowledges that prevailing market rates may differ significantly from the rates available before such an event.

17. Client's Disputes

17.1. The Company aims to settle all disputes with the Client amicably, promptly, and on terms acceptable to both parties. Therefore, in case of a dispute, Clients are encouraged to address the Company directly for resolution through negotiation.

17.2. The Client may submit any claim or complaint regarding Services provided by the Company by sending a notification via email.

17.3. The complaint shall specify the circumstances and documents on the basis of which the complaint has been submitted. If the Client bases their complaint on documents not possessed by the Company, the Client shall also submit such documents or their copies when filing the complaint.

17.4. Terms of examination of claims or complaints of Clients:

• The Company shall examine the Client's claim or complaint and notify the Client about the decision not later than within 30 (thirty) days, except when legal acts or other Company binding acts related to the provision of Services establish a different time limit.

• If the Company cannot provide an answer to the Client's complaint within this time period, the Company shall inform the Client about the reasons and indicate when the Client will receive the answer.

• If the Client is not satisfied with the decision of the Company, the Client has the right to use all other legal remedies to protect their rights.

18. Governing Law

These Terms shall be governed by and construed in accordance with the laws of Poland, without giving effect to any principles of conflicts of law. Any legal action or proceeding arising out of or related to these Terms shall be brought exclusively in the courts of Poland.

19. Final Provisions

19.1. Titles of sections and articles of the Agreement are intended solely for the convenience of the Parties and cannot be used for the interpretation of provisions of the present Agreement.

19.2. The Company shall not be responsible for the execution of tax obligations of the Client, or the calculation and transfer of taxes applied to the Client.

19.3. If any provision of the Agreement is recognized as invalid, the other provisions of this Agreement do not cease to apply

19.4. Links to websites given in the Agreement and Supplements regulating the provision of separate services are integral parts of this Agreement and are applied to the Client from the moment they start using the respective service.

20. Electronic Form of the Terms

20.1. The Client and Paynamic acknowledge that the digital form of these Terms is legally equal to the agreement executed in written form.

20.2. By electronically assenting to these Terms, you (a) are indicating that you have read and understand these Terms and agree to be legally bound by such Terms and (b) represent and warrant that you have the authority to act on behalf of yourself and any entity or individual you represent. Please also note that there may be specific terms or conditions applicable to you as a user or a client in a given jurisdiction, as detailed herein.

21. Disclaimer

Due to the exchange rate difference, the difference in the time of the transaction, as well as other circumstances affecting the course, the size of the real Commission may be different from the stated.

22. Contact Us

22.1. If you have any questions relating to the Services, your Account, or any other matter, please contact us via email at [email protected].

22.2. If you have any questions relating to these Terms, your rights and obligations arising from these Terms, and/or your use of the Website, please contact our Support Team at [email protected].