Legal data

This Agreement is for the use of one algorithm in connection with transaction verification for one or more blockchain protocols. At the commencement of the Term of the Agreement, the Customer-selected algorithm may be employed for certain digital assets extraction. As described in Section 3 below, the Customer acknowledges the risks associated with blockchain technologies and acknowledges that variations may occur with the protocols used to perform blockchain transaction verifications (“output”) for cryptocurrencies using the algorithm selected by the Customer.

VOSMINING will provide the Customer computational power at a hash rate that is fixed for the Term of the Agreement.

The Customer acknowledges that the Services shall be rendered on a best effort basis. The availability of computational power and, accordingly, the output and results of any Services and cryptocurrencies may vary up to 5%. Notwithstanding the aforementioned variance, VOSMINING shall make reasonable efforts to ensure that all facilities and the relevant supplies for providing the Services are maintained in good working order to avoid any variance with the same diligence it applies in its own dealings.

The Customer’s selection of an algorithm, selection of a quantity of computational power or hash rate, allocation of computational power, and use of the Services may result in the receipt of reward in cryptocurrencies in accordance with the total formula for calculating of the terahash, where X (total revenue) = E (Customer revenue) - T (Customer hash rate) * Y (service charge ratio). The service charge is a unified charge, which includes charges for the following services: electricity, management, rent, security. Amount of the reward is also subject to any Maintenance Fees, Blockchain Transaction Fees, and third-party Fees. VOSMINING has the discretion to accumulate or bundle the resulting cryptocurrencies Hash Rate Output in the Customer’s digital omnibus account until the accumulated value is sufficiently high to exceed the requirements the Blockchain Transaction Fees. VOSMINING may set and adjust the threshold for delivering the Hash Rate Output at its sole discretion upon notice to the Customer. Adjustments are generally made due to material increase or decrease to Blockchain Transaction Fees or operational degradation, congestion, failure or disruption otherwise of the blockchain network used by Customer. For the avoidance of doubt, the Customer remains the beneficial owner of any derived digital assets.

The Customer’s selection of an algorithm, allocation of computational power, and use of the Services may result in the reward of one or more cryptocurrencies. Where applicable, VOSMINING may provide the Customer with the option to receive the Hash Rate Output in one or more digital asset in equal value to the digital asset extracted by the Customer.

During the Term, the Customer may: (i) use the Services, and (ii) use any Software provided by VOSMINING as part of the Services. The Customer may not sublicense or transfer these rights.

As part of receiving the Services, the Customer will have access to the Dashboard through which the Customer may administer accessible services, including management and allocation of its deployment of computation power in connection with the Customer’s selected algorithm. The Dashboard also provides the Customer tools to direct transfer of digital assets to the Customer’s digital asset wallet.

VOSMINING may: (i) make new applications, tools, features or functionality available from time to time through the Services; and (ii) add new services to this Section 1 (Provision of Services) from time to time, the use of which may be contingent upon the Customer’s agreement to additional terms.

VOSMINING reserves the right to make in its solely discretion commercially reasonable updates to the Services and to the Agreement from time to time. If VOSMINING makes a material change to the Services or to the Agreement and any linked documents, it will notify about such changes by updating the Agreement of by placing corresponding information in description of the Services. Unless otherwise noted, material changes to the Agreement will become effective upon day of publication of updated terms of the Services and / or documents on the Platform. If the Customer or other user of the Platform do not accept any changes to mentioned terms and / or documents he (she) must stop using the Platform immediately. Therefore, continued usage of the Platform is deemed as acceptance of the modified terms of the Services and / or documents on the Platform. The Customer or other user accepts his (her) solely obligation and corresponding risks for timely and frequently reviewing the Agreement and terms of the Services to ensure the applicable usage of the Services and the Platform.

Results of performance of purchased computational power, other digital assets are due to withdrawal due the Customer’s request on terms of the Agreement.

Withdrawals may be performed only after identification and security checks are completed and approved by VOSMINING.

VOSMINING performs security checks and identification procedures checks within 24 hours since the moment the corresponding withdrawal request is received and approves it for blockchain network proceeding. VOSMINING has the right based on VOSMINING’ solely expert opinion to increase the period of checking period set in this paragraph for additional security and identification procedures without any additional notifications or explanations. Terms of withdrawal procedures including security checks are suspending on period of non-working days (including Saturdays, Sundays and public holidays).

VOSMINING has right to suspend withdrawal process in case of revealed risks of theft, malversation, tort, misrepresentation, fraudulent activities and request additional documents and information to acknowledge that the personal account is not under third party’ control, and / or any assets are not under risk of theft or subject of fraudulent activities.

All conditions of equipment rent are described in the contract, with which the Customer agrees at the time of payment. For the rent period all property rights for the leased equipment belong to VOSMINING and not transferred to the Customer. In case of equipment rent VOSMINING is fully responsible for the equipment maintenance and issues related to equipment breakdown do not affect the Customer’s income accrual under the Contract.

VOSMINING declares that it DOES NOT perform, offer or responsible for any exchange services (the “Exchange”) performed the Platform. The Exchange is offered and performed via API (Application programming interface) by third parties – binance.com (Binance Services) (the “Third party”).

If Customer willing to use the Exchange nevertheless it is accessible on the Platform he enters in relationships with the Third party, accepts its offer and terms of use and solely responsible for accuracy of searching and understanding of these rules. Customer is solely responsible for all consequences and risks according this entering.

While using services that are offered by VOSMINING Customer may use the Exchange that is available on the Platform and that may be used only to exchange a digital asset that uses cryptographic technologies to maintain possibility of using its operations as a currency (hereinafter – the “cryptocurrency”) to another cryptocurrency in accordance with requirements of applicable laws and regulations (local and federal), this Agreement and terms of exchange issued by the Third party that executes exchange processing.

The computational power at a hash rate that was purchased by the Customer is active within the period of offer and / or contracts that was purchased (accepted) by the Customer.

All information placed on the Platform (including out of tab “Assets”) about cryptocurrencies, other digital assets or portfolios of cryptocurrencies can not be treated as an investment advice, consulting advice, trading or any other kind of advice, promise or responsibility for future values or market pricing of cryptocurrency or portfolios of cryptocurrencies. VOSMINING is not broker, advisor or any kind party that could be treated as obliged to the Customer or to other user of the Platform in connection with any trading decisions. The Customer or other user of the Platform before registering on the Platform and or performing any actions on the Platform or making any decision should make personal legal and tax research, order professional consulting and advices by regard of his (her) residence, local laws, personal financial circumstances, risk tolerance and obligations. The Platform CAN NOT be treated as a business or investment instrument and can be used only for personal use.

All names, labels or any graphic designations in relation to cryptocurrencies or portfolios of cryptocurrencies are made on the Platform for individualization purposes only and have no correlation to any investing indicators, prognosis or any personal investing choices or advices.

The Customer shall pay and owe VOSMINING certain data center operations service fees (“Service Fees”) for use of the Services as described in this Agreement. VOSMINING shall calculate and automatically deduct the Service Fees from Customer’s Hash Rate Output on a daily basis. Service Fees are indicated in contracts per 1 unit of computational power for one day of contract operation. So the Service Fees of a particular contract is calculated by multiplying the amount of computational power unit by service fee rate, defined in the contract. In the event that the Hash Rate Output for one or more days does not satisfy the Service Fees VOSMINING may deduct the Service Fees from any subsequent Hash Rate Output during the Term of the Agreement and / or consider the specified Fee as the Customer’s debt for the provided and received Services that the Customer is obliged to pay. Service fee is a subject to unilateral change by VOSMINING.

The delivery and receipt of any of the Customer’s digital assets is subject to network or transaction fees charged by the blockchain associated with the Customer-selected algorithm (“Blockchain Transaction Fees”). Blockchain Transaction Fees are paid to emit, record, verify, and process a transaction on the blockchain and not retained by VOSMINING.

Certain digital wallets, wallet addresses, tools, and third-party software and devices (“Third-Party Wallets”) used by the Customer may also charge Customer a fee, including a per transaction or transfer fee. Customer is responsible for being aware of and satisfying any such fee. Customer should note that any such fees may significantly reduce Customer’s Hash Rate Output and therefore Customer is responsible for managing the selection, use, and rate and frequency of their delivery of Hash Rate Output to any such Third-Party Wallets.

The Customer is responsible for any taxes, and the Customer will pay VOSMINING for Services without any reduction for taxes. If VOSMINING is obligated to collect or pay Taxes, Taxes will be invoiced to the Customer and/or deduced from the Customer’s Hash Rate Output, unless the Customer provides VOSMINING with a timely and valid tax exemption certificate authorized by the appropriate taxing authority. In some countries, states, and provinces, the sales tax is due on the total purchase price at the time of sale and must be invoiced and collected at the time of the sale. If the Customer is required by law to withhold any taxes from its payments to VOSMINING, the Customer must provide VOSMINING with an official tax receipt or other appropriate documentation to support such withholding. If under the applicable tax legislation, the Services are subject to local value added tax (“VAT”) and the Customer is required to make a withholding of local VAT from amounts payable to VOSMINING, the value of the Services calculated in accordance with the above procedure will be increased (grossed up) by the Customer for the respective amount of local VAT and the grossed-up amount will be regarded as a VAT inclusive price. Local VAT amount withheld from the VAT-inclusive price will be remitted to the applicable local tax entity by the Customer and the Customer will ensure that VOSMINING will receives payment for its services for the net amount as would otherwise be due (the VAT-inclusive price less the local VAT withheld and remitted to applicable tax authority). If required under applicable law, the Customer will provide VOSMINING with applicable tax identification information that VOSMINING may require to ensure its compliance with applicable tax regulations and authorities in applicable jurisdictions. The Customer will be liable to pay (or reimburse VOSMINING for) any taxes, interest, penalties or fines arising out of any mis-declaration by the Customer.

The Customer is responsible for the selection of the algorithm and understands and accepts the risks associated with blockchain technologies, cryptographic currencies, and digital asset extraction.

The Customer is responsible for the allocation of the Customer’s hash rate purchased under this Agreement. The Customer acknowledges that VOSMINING is not responsible for the selection or timing of Hash Rate Output to be mined under this Agreement and protocols selected for use in connection with the Services. The Customer shall monitor and allocate hash rate through the Dashboard. The Customer acknowledges that the difficulty of digital assets extraction may vary and will likely increase during the Term of this Agreement and Customer shall monitor, supervise, and determine which digital assets to mine under this Agreement.

The Customer represents and warrants that the Customer is familiar with and accepts the risks associated with digital wallets and private keys, including the risks. The Customer’s digital wallet or vault may require a private key, or a combination of private keys, for access. Accordingly, loss of requisite private key(s) associated with the Customer’s digital wallet or vault storing Hash Rate Output will result in loss of such Hash Rate Output, access to the Customer’s Hash Rate Output balance and/or any initial balances in blockchains. Moreover, any third-party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet or vault service the Customer uses, may be able to misappropriate the Customer’s digital assets. VOSMINING is not responsible for any such losses.

The Customer represents and warrants that the Customer is responsible for the preservation of confidentiality of the Customer’s login credentials. VOSMINING log-in credentials and generated by the Services are for the Customer’s internal use only and the Customer is strictly prohibited from selling, transferring, or sublicensing them to any other entity or person.

VOSMINING may suspend the Customer’s right to access or use any portion or all of the Services immediately upon notice to the Customer if: (i) VOSMINING determines the Customer’s use of the Services poses a security risk to the Services or any third party, could adversely impact VOSMINING’s systems, the Services or any other VOSMINING customer, could subject VOSMINING, its affiliates, or any third party to liability, or could be fraudulent; (ii) the Customer is in breach of this Agreement; (iii) the Customer initiated a chargeback or dispute with respect to any payment or purchase of the Service; or (iv) the Customer has ceased to operate in the ordinary course, made an assignment for the benefit of creditors or similar disposition assets, or become the subject of any bankruptcy, reorganization, liquidation, dissolution or similar proceeding.

If VOSMINING suspends the Customer’s right to access or use any portion or all of the Services, the Customer may remain responsible for all fees and charges the Customer incurs during the period of suspension; and the Customer will not be entitled to any digital asset extraction results that may have occurred during the period the Customer’s use of the Services was temporarily suspended.

The term of this Agreement will commence on the Effective Date and will remain in effect until terminated under this Section.

The term of this Agreement will commence on the Effective Date and will remain in effect until the earlier of the date set forth in the Agreement Specifications or the date of a Termination for Breach.

Either party may terminate this Agreement for breach if the other party is in material breach of the Agreement and fails to cure that breach within thirty days after receipt of written notice. In addition, in the event that VOSMINING ceases its business operations or becomes subject to insolvency proceedings and the proceedings are not dismissed within ninety days, VOSMINING may terminate the Service. Breach of this Agreement is a basis for a ban of the Customer’s personal account by VOSMINING.

The Termination Date, all of the Customer’s rights under this Agreement immediately terminate and the Customer shall remain responsible for all Service Fees incurred through the termination date provided by VOSMINING.

The Customer may not disclose Confidential Information, except to agents or professional advisors who need to know it and who have agreed in writing (or in the case of professional advisors are otherwise bound) to keep it confidential. The Customer shall ensure that those persons and entities use the received Confidential Information only to exercise rights and fulfill obligations under this Agreement, while using reasonable care to maintain the confidentiality of such information.

The Customer is permitted to state publicly that it is a customer of the Service, consistent with the Trademark Guidelines. If the Customer wants to display VOSMINING in connection with its use of the Services, the Customer must obtain written permission from VOSMINING through the process specified in the Trademark Guidelines. The Customer shall not issue any press release or make any other public communication with respect to this Agreement or the Customer’s use of the Services.

Each party represents and warrants that: (i) it has full power and authority to enter into the Agreement; and (ii) it will comply with all laws and regulations applicable to its provision, or use, of the Services, as applicable. VOSMINING warrants that it will provide the Services in accordance with the applicable Service Level Agreement (if any).

EXCEPT AS EXPRESSLY PROVIDED FOR IN THIS AGREEMENT, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, VOSMINING, ITS AFFILIATES, AND ITS SUPPLIERS DO NOT MAKE ANY OTHER WARRANTY OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE AND NON-INFRINGEMENT. VOSMINING, ITS AFFILIATES, AND ITS SUPPLIERS ARE NOT RESPONSIBLE OR LIABLE FOR THE DELETION, FAILURE TO STORE, OR ANY LOSS OF ANY CUSTOMER DATA, INCLUDING BLOCKCHAIN DATA AND DIGITAL ASSET REWARDS DERIVED, MAINTAINED, OR TRANSMITTED THROUGH USE OF THE SERVICES. THE CUSTOMER IS SOLELY RESPONSIBLE FOR SECURING ITS CUSTOMER DATA AND DIGITAL ASSET REWARDS. NEITHER VOSMINING, ITS AFFILIATES, NOR ITS SUPPLIERS, WARRANTS THAT THE OPERATION OF THE SOFTWARE OR THE SERVICES WILL BE ERROR-FREE OR UNINTERRUPTED. VOSMINING, ITS AFFILIATES, AND ITS SUPPLIERS ARE NOT RESPONSIBLE OR LIABLE FOR ANY LOSSES OR OPPORTUNITY COSTS RESULTING FROM BLOCKCHAIN NETWORK AND PROTOCOL OR THIRD-PARTY SOFTWARE ISSUES, WHICH MAY IN TURN RESULT IN THE INABILITY TO PROCESS TRANSACTION ON THE BLOCKCHAIN AT ALL OR WITHOUT INCURRING SUBSTANTIAL FEES.

WHEN USING ANY SERVICES ON THE PLATFORM, THE CUSTOMER UNDERSTANDS AND UNCONDITIONALLY ACCEPTS THAT:

a. VOSMINING has unconditional right to modify and cancel without warning all the transactions and their results if the Customer does not comply with the terms of the Agreement or that are happened due to the Customer fraudulent activities or abuse of rights or Third party’s or VOSMINING’s system failures or other events that led to VOSMINING’ or the Customer’s unjust enrichment or income.

b. The Customer would abide by relevant laws and regulations to ensure that the sources of any digital information on the Platform that can be valued are legitimate and compliant when using the Platform.

c. When the Customer uses any services on the Platform, he (she) fully recognizes the risks of investing or performing any transactions with using the Platform and operates cautiously.

d. The Customer agrees that all investment operations conducted on the Platform represent the Customer’s true investment intentions and that he (she) unconditionally accepts the potential risks and benefits of investment decisions and actions performed on the Platform.

e. VOSMINING reserves the right to suspend or terminate the Platform at any time.

f. Due to network delay, computer system failures and other uncontrolled and unintended by VOSMINING or Third party’s events, which may led to delay, suspension, termination or deviation of execution of services that are performed on the Platform, VOSMINING will use reasonable effort to ensure but not promise that the Platform execution system runs stably and effectively. The Customer agrees that VOSMINING does not take any responsibility if the final execution fails to match the Customer’s expectations due to the factors mentioned above.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, VOSMINING, THE CUSTOMER, AND VOSMINING’S SUPPLIERS, SHALL NOT BE LIABLE UNDER THIS AGREEMENT FOR LOST REVENUES, OPPORTUNITY COSTS, OR INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, EVEN IF VOSMINING KNEW OR SHOULD HAVE KNOWN THAT SUCH DAMAGES WERE POSSIBLE AND EVEN IF DIRECT DAMAGES DO NOT SATISFY A REMEDY. THIS LIMITATION OF LIABILITY DOES NOT APPLY TO VIOLATIONS OF VOSMINING’S INTELLECTUAL PROPERTY RIGHTS, INDEMNIFICATION OBLIGATIONS, OR THE CUSTOMER’S PAYMENT OBLIGATIONS.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER VOSMINING NOR VOSMINING’S SUPPLIERS, MAY BE HELD LIABLE UNDER THIS AGREEMENT FOR MORE THAN THE AMOUNT PAID BY THE CUSTOMER TO VOSMINING UNDER THIS AGREEMENT, MINUS ANY CRYPTOCURRENCIES GENERATED OR RECEIVED BY THE CUSTOMER AS A RESULT OF THE CUSTOMER’S USE OF THE SERVICES.

Unless prohibited by applicable law, the Customer will defend and indemnify VOSMINING and its Affiliates against any settlement amounts approved by the Customer and damages and costs finally awarded against the Customer and its affiliates by a court of competent jurisdiction in any formal legal proceeding filed by an unaffiliated third party before a court or government tribunal (including any appellate proceeding) to the extent arising from the Customer’s use of the Services.

The Customer will not assign or otherwise transfer this Agreement or any of the Customer’s rights and obligations under this Agreement, without the prior written consent of VOSMINING, which may be unreasonably withheld. Any assignment or transfer in violation of this Section 13.1 will be void. In addition, the Customer shall be the beneficial owner of any cryptocurrencies generated and/or received as a result of the Customer’s use of the Services under this Agreement. VOSMINING may assign this Agreement without the Customer’s consent (i) in connection with a merger, acquisition or sale of all or substantially all of our assets, or (ii) to any Affiliate or as part of a corporate reorganization; and effective upon such assignment, the assignee is deemed substituted for VOSMINING as a party to this Agreement and VOSMINING is fully released from all of its obligations and duties to perform under this Agreement. Subject to the foregoing, this Agreement will be binding upon, and inure to the benefit of the parties and their respective permitted successors and assigns. The Customer may not merge this Agreement with any other agreements with VOSMINING it may be party to.

If a Customer experiences a change of Control (for example, through a stock purchase or sale, merger, or other form of corporate transaction): (i) the Customer will give written notice to the other party within thirty days after the change of Control; and (ii) VOSMINING may immediately terminate this Agreement any time between the change of Control and thirty days after it receives that written notice.

Any dispute, controversy, difference or claim arising out of or relating to this Agreement or relating in any way to the Customer’s use of the Service, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to the Agreement shall be referred to and finally resolved in the courts of Georgia. If for any reason a claim proceeds in court rather than in arbitration, VOSMINING and the Customer waive any right to a jury trial. Notwithstanding the foregoing VOSMINING and the Customer agree that VOSMINING may bring suit in court to enjoin infringement or other misuse of VOSMINING’s intellectual property rights. The law of this arbitration clause shall be Georgia law.

This Agreement sets out all terms agreed between the parties and supersedes all other agreements between the parties relating to its subject matter. In entering into this Agreement, neither party has relied on, and neither party will have any right or remedy based on, any statement, representation or warranty (whether made negligently or innocently), except those expressly set out in this Agreement. The terms located at a URL referenced in this Agreement and the Documentation are incorporated by reference into the Agreement. After the Effective Date, VOSMINING may provide an updated URL in place of any URL in this Agreement.

VOSMINING and its affiliates will not be liable for any failure or delay in performance of obligation under this Agreement where the failures or delay results from any cause beyond our reasonable control, including, but not limited to, acts of God, labor disputes or other industrial disturbances, electrical or power outages, utilities or other telecommunications failures, earthquake, storms or other elements of nature, blockages, embargoes, riots, acts or orders of government, acts of terrorism, or war. Force Majeure events include, but are not limited to, upgrades to the validation rules of a given blockchain (e.g., a “hard fork” or “soft fork”). VOSMINING protects safety of the Customer by reserving a right to buy-back digital assets in case of the situation, when authorities of the Customer’s State of residence prohibit using of cryptocurrencies, mining or blockchain technology. VOSMINING creates extra guarantees for the Customer by reserving a right to buy-back digital assets in case of any situation, including even force majeure situations defined above.

All claims arising out of or relating to this Agreement or the Services will be governed by the laws of the Georgia, excluding the Country’s conflicts of laws rules, and will be litigated exclusively in the courts of the Georgia. The 1980 United Nations Convention on Contracts for the International Sale of Goods does not govern this Agreement.

All communications and notices made or given pursuant to this Agreement must be in the English language. If we provide a translation of the English language version of this Agreement, the English language version of the Agreement will control if there is any conflict.

This Agreement does not create any agency, partnership or joint venture between VOSMINING and the Customer.

VOSMINING may provide any notice to the Customer under this Agreement by: (i) posting a notice on the VOSMINING website; or (ii) sending a message to the email address then associated with the Customer’s personal account. Notices we provide by posting on the VOSMINING website will be effective upon posting and notices we provide by email will be effective when we send the email. It is the Customer’s responsibility to keep the Customer’s email address current. The Customer will be deemed to have received any email sent to the email address then associated with the Customer’s personal account when VOSMINING sends the email, whether or not the Customer actually receive the email.

Buying a mining contract or other purchases performed on the Platform should not be contrary to the laws of the country in which the Customer is a resident. The Customer pays independently all tax payments stipulated by the legislation of the country of the Customer. The Customer is responsible for all tax deductions.

Pricing explanation

The cost of mining contracts is adjusted depending on various factors, such as the exchange rate of cryptocurrency, the complexity of the network and the price for electricity (for the last 3 months). The contract price is fixed at the time of purchase and remains unchanged with subsequent price changes on the site. VOSMINING does not compensate the Customer for the difference in the price of the contract after adjusting the value of the contracts.

Explanation of computational power fluctuations

Variations in computing power may be unavoidable due to network instability, mining equipment performance, and mining pool luck. VOSMINING cannot guarantee 100% stability of mining.

Uncontrolled Risk Explanation

VOSMINING is not responsible for failure to fulfill its obligations under the mining contract in the event of force majeure circumstances (the list is not limited to the following paragraphs): natural disasters such as floods, volcanic eruptions, earthquakes, landslides, fires, storms and weather conditions, government actions and government directives; power outages; wars, strikes, riots, etc.

The Customer gives VOSMINING an unconditional consent for using Customer’s email and cell phone for making calls, sending emails and messages to Customer with promotional purposes, offers, getting Customer’s feed-back on satisfaction by the Services.