Duty Fly Terms of Use

Date: 17 July, 2018

General Provisions

These Terms of Use (hereinafter referred to as "the Terms") provide for obtaining the user's electronic consent (hereinafter referred to as "the User") to use the presented website and its content, products and any other services provided by Duty Fly Limited (hereinafter referred to as "the Company"), registered at: Suite 305, Griffith Corporate Centre, p. O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.

Duty Fly Limited agreed to accept and will continue to receive financial assistance from the company DUTY FLY LP, a corporation organized and existing under the laws of the United Kingdom of Great Britain and Northern Ireland, viz. Scotland, Edinburg with its head office located at: Suite 1, 4 Queen Street, Edinburgh, EH2 1JE, Scotland, UK.

Duty Fly refers in part to the product group of Duty Fly Limited, which includes - its owners, CEO, Executive Directors, investors, employees, officers, and any entities and entities affiliated with the company, including, but not limited to: banks, auditors, any agents of the Company, including payment agents and providers, or other trusted organizations and entities.

Before giving your consent to visit the Company's website with its content, start working with the services and/or products provided by the Company, PLEASE carefully and thoroughly read these Terms.

It is the responsibility of the User to clearly understand and comply with all rules and regulations that are subject to the laws in connection with the use of the services and/or products of the Company, visit and work with the content of the official website of the Company.

These Terms and conditions include the Privacy Policy, as well as any other Policies that are posted on the official website of the Company-
www.dftrades.com.

The user has no right to access any products and/or services of the Company if the User does not agree and does not accept these Terms.

Definition of terms

Any terms used in these Terms of Use shall be understood and interpreted in accordance with their definitions as set below:

  • The user is a physical or legal entity, who uses the services of the Company, has agreed to comply with the Terms of Use and Privacy Policy, and is the official owner of the account.
  • User account - is an officially registered User account on the Duty Fly exchange platform.
  • Buyer - a User who issues an order to buy cryptocurrency through the Duty Fly exchange platform.
  • The seller - a User who issues an order for the sale of cryptocurrency through the Duty Fly exchange platform.
  • Transaction fee - a fee charged for closing a transaction from one of its participants.
  • Cryptocurrency - a distributed and decentralized system of secure exchange and transfer of digital currency, based on cryptography.
  • Order - a list of User conditions specified for buying or selling cryptocurrency on the Duty Fly platform.
The volume of services provided and associated risks

Duty Fly Exchange platform, together with these Terms of Use, provides all Users who have given their consent to comply with the Terms of Use and Privacy Policy of the Company, the ability to make transactions of purchase and sale of cryptocurrency through its platform.

At the same time, the Company takes the responsibility to once again warn all users of the Company that trading virtual currencies include significant risk.

Cryptocurrency prices can fluctuate throughout the day, causing you to increase or lose the value of your assets at any given time.

The company does not take responsibility for the regulation of prices for cryptocurrency on the Duty Fly Platform.

Rights and obligations of the User

The user of the Duty Fly exchange platform has the right:

  • to join the use of the official website of the Company, as well as the services and products provided by it, if such User has agreed to comply with these Terms of Use.
    The user of the Duty Fly exchange platform must:
  • carefully review all Terms and conditions before giving consent to use the services of the official website of the Company, its services and/or products;
  • comply with laws and other regulations that are related to the use of the services and/or products of the Company, as well as compliance with these Terms;
  • independently monitor all changes in his/her current Account, including the balance issue, but not limited to;
  • report any inaccurate or unclear changes to the User's current Account;
  • gives its consent to each case of closing the Transaction, carrying out for the given on behalf of the Order;
  • do not use the Duty Fly platform for criminal activities related to money laundering, illegal operations, financing of terrorist operations or for targeted hacker attacks;
  • do not use the Duty Fly platform for Transactions related to human trafficking; for goods which are used for violating copyrights or other commercial rights; to pay for weapons of any kind; to pay for pornographic and other materials, the distribution of which is prohibited.

The user of the platform shall be liable for any damage to the platform if such damage was caused as a consequence of the actions or omissions of the User.

The user assumes responsibility for violations of the legislation related to the use of the Company's services and products.

The user is personally responsible for the transaction, taking into account its own financial position, Account balance and stated risks.

Guarantees

The User, who registers for an account on the Duty Fly exchange platform, understands and guarantees that he/she:

  • complies with the laws of his/her country of residence;
  • has accepted these terms and the Company's Privacy Policy;
  • is more than 18 years old and has the authority to participate in transactions involving cryptocurrency;
  • will use the Duty Fly exchange platform for the purpose of Transactions and in accordance with the points of these terms and conditions;
  • replenishes the current exchange Account with a legally appropriate source of income;
  • in the course of a transaction does not violate the rights of any third party or applicable law;
  • provides documents that are true.

The Duty Fly exchange platform provides its services and/or products based on the criteria of accuracy, reasonableness, and legality.

All orders placed on the Duty Fly exchange platform, which represent the purchase or sale of cryptocurrency, are carried out with regards to the anonymity of buyers and sellers. The transaction price, in this case, is calculated based on the actually matched orders made by buyers and sellers participating in the auction combined with the applicable Transaction Fee.

To protect users, Duty Fly has an insurance Fund.

Rights and obligations of Duty Fly

The Duty Fly exchange platform is required to provide its services properly and in accordance with these terms and Company Policies.

The Duty Fly exchange platform has the right to block any User accounts, all available and stored cryptocurrency on such account, in case of non-compliance with the terms by the User.

The responsibility of Duty Fly is limited only to the use of due and reasonable technical efforts to guarantee the execution of a cryptocurrency Transaction order.

The Duty Fly exchange platform is not responsible for any loss or other loss of profits by Users if such loss was caused by a breach of the terms or Privacy Policy.

The Duty Fly exchange platform is not responsible for the lack of access to the official website due to the failure, delay or interruption of connection to the world wide web.

In the event of fraud or other criminal activity, Duty Fly undertakes to provide all necessary information, including names, addresses, and other requested information, to the competent authorities dealing with violations of the law. Users acknowledge that their account may be frozen at any time at the request of any competent authority investigating fraud or any other illegal activity.

Customer verification

For all Transactions that are carried out on the Duty Fly exchange platform requires identification and verification procedure ("KYC").

To pass the identification procedure, the User must provide the relevant documents.

In case of refusal of the User to provide the required documents and information for the KYC procedure, the Duty Fly exchange platform has the right to stop cooperation and provision of services to such User.

If the documents provided by the User are fake or contain information that is not true, the Duty Fly exchange platform has the right to interpret such User behavior as a fraud.

Account Maintenance

On the Duty Fly exchange platform are set the following points:

  • The User Account is for personal or non-commercial use Only;
  • the number of possible registered Accounts is limited and is-1 account per user of the Duty Fly exchange platform;
  • does not allow to access to the Accounts of the other Users;
  • Duty Fly has the right to determine the amount of minimum and maximum transactions that are carried out on the platform individually or to determine such amounts for 24 hours;
  • responsibility for maintaining confidential Account information (including password, email address, wallet address, Account balance, Order Transactions) lies with the User;
  • Duty Fly has the right to request additional Information from the User if there are grounds to believe that the user's Account has been hacked or any other suspicious activity related to the User's Account has been detected;
  • If for any reason the Account activity is not detected for more than 6 months, Duty Fly has the right to suspend the activity of this account. In this case, the Storage fee will be applied to such an Account with 10 days, prior notification by email to the User.
Transaction

The Duty Fly exchange platform provides Users with the opportunity to make a transaction of purchase and sale of cryptocurrency.

The user understands and clearly realizes that the order must be Submitted only after careful consideration of the terms and conditions and Privacy Policy, as well as the calculation of risks. In this regard, the User is responsible for the consequences of the Order and its execution. The transaction cannot be reversed or canceled.

Deposits and withdrawals from the account can be made by any of the offered payment methods, which are on the official website of the Company.

The minimum and maximum Order amount varies for each pair and is reflected on the Order placement page.

Withdrawal limit: the user can not withdraw money at the first stage of identification. The minimum Deposit must be $ 10 or equivalent.

Margin trading

Duty Fly may charge its fees for opening and/or closing a position, as well as for storing an open position ("Fee for simultaneous keystroke"). The applicable fees can be found on the page of the price list for services in
fees.

The user can open position for the next 4 hours by pressing the button simultaneously, repeatedly paying a fee for the Simultaneous pressing of buttons.

In any case, the open position should be closed within 360 days as of the day it was opened.

Due to the volatility and constant changes in the cryptocurrency market, Duty Fly reserves the right to close any open position any time from two weeks, prior notice to the User. To cancel a position closure, the User must fund their Account to cover the missing amount in its open position covered by Duty Fly. If the User does not close or cover their position after notification, this position can be closed automatically. Duty Fly will not compensate for any damage caused by the closure of the position.

The user acknowledges and agrees that, to avoid having negative balance, Duty Fly has the right to close any open position, with or without any notice to the User when the price of the base currency (i.e. the first symbol in the trading pair) approaches the ‘value' of the stop loss price determined by the User by opening the position.

Depending on the situation in the Cryptocurrency market, any open position can be closed before the stop loss price starts, where the closing price could be different from the stop loss price. Duty Fly will not compensate for any damage caused by the closure of the position.

The user acknowledges and agrees that a position opened under the edge trading terms on the Duty Fly platform may be closed before the aimed at limiting the loss price occurs if there is no possibility of maintaining the required trading volumes to close the position at the lowest price. The estimated price at the close of the exchange in the trading interface edge may differ from the real price at the close of the exchange.

Duty Fly reserves the right to close any open position without any notice to the User if the User does not have sufficient coverage to pay fees or if the position is open for more than 360 days.

The user acknowledges and agrees that when a position is closed, the Duty Fly platform shows the approximate price at the time of the exchange closure, which may differ from the final due to instant changes in the cryptocurrency market.

The Commission of the Transaction

The user agrees to pay a Transaction Fee to Duty Fly for each completed Transaction.

Before the trade, the User must carefully read the rates of the Commission of the Transaction published on the page of the fees. However, Duty Fly reserves the right to change the Transaction Fee rates from time to time by posting updates on the fee page.

The amount of the Transaction fee is automatically debited in the currency indicated after the symbol " / " in the trading pair after the corresponding Transaction. For instance, in the case of BTC / USD, the fee is charged in USD.

For a certain type of orders, the transaction Fee may differ from Those placed on the fees page. The transaction Commission rate must be disclosed before the order is executed.

Currency rounding policy

For absolutely all financial calculations, Duty Fly uses a rounding policy that is calculated in favor of the Company and rounds the currency to the 2nd digit after the comma. Rounding policy has its own differences and is calculated depending on what cryptocurrency is used in the calculations.

This Rounding Policy is implemented to optimize Transactions.

Termination of Terms of Use

The user has the right to terminate the agreement with the Terms of Use and close his Account at any time, after all, declared transactions have been settled, all orders have been closed and Transaction Fees paid.

Consultations

Duty Fly does not provide any financial, investment or legal advice in connection with the Services. Duty Fly may provide information on the price, range, variability of cryptocurrencies and events that have affected the price of cryptocurrencies, but this, in no way, can be considered as investment advice or financial advice and should not be interpreted as such. Any decision to buy or sell cryptocurrencies is User's own decision and Duty Fly will not be liable for any losses incurred.

Taxation

All taxes and duties to be paid in connection with the use of the Duty Fly services and the Duty Fly services under the tax laws are imposed on the Users.

Duty Fly is not responsible for a violation related to non-payment of taxes and duties by the User.

Communication services

All notices and communication with the Company are via the official support:
[email protected].

The user agrees to receive any notice in electronic form in connection with the requirements of these terms.

Settlement of disputes

All disputes and arguments arising in connection with the use of this website shall be Submitted to the court of Saint Vincent and the Grenadines.

The parties confirm that in the event of any provision of these Terms of Use becomes, or is found to be invalid due to non-compliance with the law. Such provision will not be taken into account or the Parties will take steps to modify it to the extent that the Terms and conditions are valid and retain their full intentions.

Links and work on other websites

The Company's website may contain links that allow you to visit other websites. However, once you have used these links to leave the Company's official website, you must understand that the Company has no control over and is not responsible for third-party websites. Among other things, the Company, in such cases, will not be responsible for the protection and confidentiality of any information that you provide when you visit such websites.