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Terms of service

Affinity Digital Mine

This agreement is entered into by and between:

 

 

Affinity Mining (PTY) LTD
(Registration No: CO2017/17202)

(Hereinafter referred to as “Affinity”)
and
The Customer

(Hereinafter referred to as “the Customer”)

 

 

 

NOW THEREFORE THE PARTIES AGREE:

 

  1. INTERPRETATION AND PRELIMINARY

This is an agreement (referred to as “Terms”) between AFFINITY (also referred to in these Terms as (“we”, “us” or “our”) and you (also referred to in these Terms as “Customer”, “you”, “your”), the person accessing and using Affinity cloud mining service and accepting these Terms.

The following terms shall have the meaning assigned to them hereunder and cognate expressions shall have corresponding meanings, namely: these terms of service apply to the use of Affinity cloud mining service and Affinity website located at  and its subdomains. The website and the service is the property of Affinity.

These terms set out how Affinity cloud hosted cryptocurrency mining service works and describe any associated rights and responsibilities. Affinity terms of service and any instructions, guidance and similar information found on the website (from time to time) also apply to how you use Affinity cloud mining service (together the “agreement”). By using the website and/or the service, you agree to these terms of service.

Affinity reserves the right, at its sole discretion, to amend, change, modify, add or remove portions of these terms of service, at any time. It is your responsibility to check these terms periodically for changes. The current version of these terms is available at  Your continued use of the website and/or the service following the published updates to the terms will mean that you accept and agree to the changes. as long as you agree and comply with these terms, Affinity grants you a personal, non-exclusive, non-transferable, limited privilege to enter and use the website and the service.

Please be aware that this is a closed-ended fund, aimed at raising a prescribed amount of capital, only once, and is subject to the terms of the mandate provided by the Customer. Closed-end fund interest represents an interest in a specialised, specific portfolio that is actively managed. The value of the fund fluctuates according to market forces, such as supply and demand, as well as the changing values of the cryptocurrency/ies.

The net asset value of the fund is calculated regularly. However, the value is determined entirely by supply and demand. This can lead to a closed-ended fund trading at a premium of a discount to its Nett Asset Value.

 

 

  1. DEFINITIONS

2.1        In this Agreement, the following terms shall have the meaning assigned to them hereunder and cognate expressions shall have corresponding meanings, namely:

2.1.1    “Account” is your personal access to the Service, described further in section 6;

2.1.2    “the/this Agreement” constitutes this agreement entered into by the Parties;

2.1.3    “Balance” is your personal Account or Basket balance, subject to Rounding;

2.1.4 Basket means the cumulative pool of cryptocurrency into which you purchase with a view to onward forwarding of the balance held Cryptocurrency to New Mining Technology.  This is not an investment (collective or otherwise), but rather an initial payment, which is held on your behalf pending the availability of the New Mining Technology, and is subject to a monthly management fee of 2.5% and is specifically subject to clauses 5.5 and 14.5.5.8 and diminution as set out below;

2.1.5     “Bitcoins” is a reference to a Cryptocurrency known as Bitcoin, or any other recognized cryptocurrency;

2.1.6    “Affinity” means Affinity Mining (Pty) Ltd a company duly incorporated in accordance with the company laws of Botswana, having registration number CO2017/1702, hereinafter also referred to as “We”, “Us” or “Our”;

2.1.7     “Cloud Machine” is the processing power of the Service purchased by a Miner and administered by a Miner using the Website;

2.1.8     “Contract Term” is the period of time for which a Miner has agreed to pay to administer a Cloud Machine, by default.  Affinity provides lifetime Contracts that do not have an expiry date, unless stated otherwise;

2.1.9   “Cryptocurrency” / “Cryptocurrencies” is a reference to the distributed, decentralized peer-to-peer digital currencies, specifically Bitcoin;

2.1.10   “Customer” means the potential customer hereinafter also referred to as “You” or “Your”;

2.1.11  “Dual Phase mean the system whereby your initial purchase is placed in the Basket and the balance then used for purchase of New Mining Technology, for which a management fee is charged, subject to Pre-Order;

2.1.12   “Effective date” shall mean the date of final signature of this Agreement;

2.1.13   “Fees” include costs of maintenance, charged daily from the Balance.  Initialisation Fee shall mean a once-off establishment Fee deducted from the first transaction amount, as specified in Clause 13.2;

2.1.14   “Hold” is the state an Account can be placed in that prevents the said Account to make any withdrawals, used as a security measure;

2.1.15 “Miners” are individuals who register to mine Bitcoins with a Cloud Machine. If you successfully apply to administer a Cloud Machine, you will be a Miner;

2.1.16   “Mining Pool” is an organized association of Cryptocurrency miners. The members of these associations work together to mine Cryptocurrencies and those Cryptocurrencies are distributed amongst the membership based on the contribution made to the mining by each member;

2.1.17   “Panel” is the graphical user interface of the Service, with which the Miner interacts to perform all actions related to the Service;

2.1.18     “New Mining Technology” means the new technology which is expected to be operative within the first half of 2018, which is anticipated to generate significantly increased profits due to its reduced cost of operation.  Customers have the election to choose whether they wish to make use of Dual Phase purchase, or remain with the existing technology;

2.1.19   “the Parties” shall mean Affinity and the Customer as defined in this Agreement;

2.1.20   “Payout” is the periodic deposit to your Balance, dependent on your Cloud Machine. Affinity may change the frequency of Payouts at any time, to a maximum of once per month.  Payout deadlines are the last working day of the month before 11am;

2.1.21   “Pre-order” is a Contract with a start date in the future. Start date is estimated and is subject to change;

2.1.22  “Rounding” means the lesser amount of the balance available for purchase of Bitcoin or any Cryptocurrency and the amount available in the Customer’s account.

2.1.23   “Services” is Affinity’s cloud hosted mining service, which enables individuals to remotely mine Bitcoins for themselves using our Mining facility and the Website;

2.1.24   “Slippage” means the difference between the price specified in a trade versus the actual transaction price. The difference is usually caused by any delay between us executing the trade order and the actual execution thereof.

2.1.25  “Website” is www.affinitymine.co.za and any apps, software, emails or other websites which we use to provide the services of Affinity (which includes the Service);

 

  1. TERMS OF THIS AGREEMENT

3.1      Affinity shall provide the Services in respect of this Agreement and act as an Independent Miner for the period of duration of the Agreement.

3.2      The services shall be rendered by Affinity on the basis set forth herein or as otherwise agreed between the Parties.

3.3      The Customer shall adhere to the standards, procedures and policies and as defined by the Company from time to time.

3.4      The Customer shall be responsible to make good, as far as it is possible, any loss suffered as the result of his/her negligence or incompetence of at no cost to Affinity.

 

  1. RISK NOTICE

4.1       Actions with Cryptocurrencies carry inherent risks. Due to Cryptocurrencies being currently unregulated and decentralized, their value is not insured by any legal entities. The value of any Contract, any amount of any Cryptocurrency is subject to change by Affinity due to a number of factors out of Affinity’s control. These factors include but are not limited to changes of mining difficulty and/or other mining parameters/properties, fluctuating price (in fiat currency to Cryptocurrency exchange rate, for example ZAR/BTC) of Cryptocurrencies, obsolescence of hardware and amortization of hardware. You understand and agree that the worth of any Contact and any amount of mined Cryptocurrency may lose all worth at any moment of time due to the nature of Cryptocurrencies. You understand that you are solely responsible for management of the Cryptocurrencies in your balance as well as any losses or charges incurred by any third-party entity.

4.2       Any information related to Cryptocurrency and Cryptocurrency mining that is/was posted, published and/or provided by Affinity via any channel of communication (including but not limited to: on the Website, in the Panel, via the Support Service, via Email newsletter, in social media) is subject to change.

4.3       Affinity will at all times endeavour to place the trade on your behalf as soon as practical after receiving instructions.  However, it is important that you are aware of the risk of Slippage.  This may result in a lesser amount being available to you.

 

  1. CRYPTOCURRENCIES

5.1 You must not mine, buy, sell, exchange, hold, own or otherwise use or exploit Cryptocurrencies in any way which is prohibited by the laws or regulations which apply to you.

5.2  Cryptocurrencies may not be appropriate for everyone. Before mining any Cryptocurrencies you should learn about them to ensure that they are appropriate for you. Like all currencies, there are disadvantages to using Cryptocurrencies.

5.3  Some of the risks particular to Cryptocurrencies include:
currency fluctuation – the price of Bitcoin and/or any other Cryptocurrency may fall sharply and may even fall to zero; transactions with Cryptocurrencies may be unconfirmed for a period of time. Although very unlikely, some Cryptocurrency transactions may never be confirmed – Cryptocurrency transactions which are unconfirmed are not completed; transactions with Cryptocurrencies are irreversible – if you send any amount of any Cryptocurrency to the wrong person, you may be unable to recover those funds;
Cryptocurrencies may be lost if you lose or forget any PINs or passwords necessary to access and spend those Cryptocurrencies;
unknown technical defects inherent in Cryptocurrencies; and
new regulation which impacts the use of Cryptocurrencies.

5.4  By agreeing to these terms of service or by mining Cryptocurrencies by using the Service, you are indicating that you understand, are capable of understanding and accept the risks associated with Cryptocurrencies.

5.5 You may not use the difference between the hashrate of your initial cryptocurrency purchase (Basket) to benefit or inflate in any way the value of the New Technology purchase or any future dealings in relation thereto, as this will not be available on a future date from date of purchase.

 

  1. REGISTRATION

6.1       By applying to register, you are making an offer to enter an agreement on these terms of service. Once submitted, you may not withdraw your offer.

6.2       Only we can decide whether applications will be accepted. If your application is accepted, a legal and enforceable agreement will have been entered between you and us. Subject to any statutory rights (such as the Consumer Protection Act 68 of 2008) you may have, you may not cancel the agreement covered by these terms of service and you will not be eligible for any refund.

 

  1. CONTRACT TERM AND MINING TERM

7.1      These Terms of Service are valid indefinitely, even after Account termination.

7.2      The Contract Term for Affinity Cloud Machines is unlimited by default, unless stated otherwise. Contract is valid while profitable, until expired or until terminated in terms of clause 13, whichever comes first.

7.3      Contracts with a stated expiry date will end on the date of expiry and the Cloud Machine is stopped, whereupon all upfront commissions payable in terms hereof shall remain our property.

7.4      Pre-order Contracts that are not activated immediately on purchase will activate on the stated date.

7.5      The Mining process continues as long as said mining is profitable. This means the Mining process will stop if the Fees become larger than the Payout. Permanent Service termination if mining remains unprofitable for 21 days.

7.6      Affinity reserves the right to change the launch date, Contract Term and/or Mining Term of any Contract.

7.7           In the Dual Phase purchase, your cryptocurrency purchase will only be transferred to the new technology when it becomes available.  In the interim, your Basket will continue to operate in accordance with the terms and conditions applicable to the purchase of Cryptocurrency.

 

  1. ACCOUNT

8.1      To register you will need to submit some personal information, a valid email address (that will be used as Username and for user identification) for your Website account (“Account”), a password (“Password”). To be able to withdraw funds you will need to enter at least one wallet for the Cryptocurrency you are mining. The Account may allow you to add more than one Cryptocurrency wallet.

8.2      You must ensure that all information about you that is held by us is true, complete, not misleading and up to date.

8.3      The Username and Password will be allocated to you if you successfully apply for registration as a Miner.

8.4      You will need your Username and Password to access some parts of the Website. Your Username and Password are personal to you and must not be disclosed to any other person.

8.5      The number of accounts is limited to 1 for each beneficiary.

8.6      When you register, you may submit an order to administer a Cloud Machine. This order will allow you to specify the processing power of the Cloud Machine. Only Affinity can decide whether orders will be successful and acceptance is subject to availability, amongst other things.

8.7      If we accept your order, we will associate your Contract with your Account.

8.8      Confirmation of your order will be made by email, which will also contain an estimated commencement date for the Contract. The confirmed commencement date of the Contract will be notified to you in a subsequent email. We cannot say how long it will take to confirm the commencement date of the Contract.

8.9      Subject to the payment of any fees which may be applied, Miners will be able to receive Cryptocurrencies on the basis of the processing power of the Cloud Machine and the period of time for which the Cloud Machine is mining. Miners will only be able to administer the Cloud Machine during the Contract Term. Those Cryptocurrencies will be transferred to your wallet upon your request, if such request is confirmed.

8.10    If you lose access to your Account, Affinity may ask you to provide certain types of data, including personally identifiable information, to determine ownership of the Account. This may include, but is not limited to: proof of identity; proof of residence; proof of telephone number/email ownership and any identifiable activity in the Website, such as transaction IDs, order numbers, withdrawal amounts and others. All data stored is at your own risk, subject to the prevailing data protection legislation.

 

  1. USE OF YOUR ACCOUNT

9.1      You may only mine Cryptocurrencies for your own benefit. By using the Website and/or the Service you confirm that you are not acting for the benefit of any other person or entity.

9.2      We are entitled to assume that any use of your Account is made by you. You are solely responsible and liable for any use of the Website or the Service under your Account or any other use of your Username and Password.

9.3      You may only hold one Account. If you forget your Username or Password, you can use the password recovery option or contact Support.

9.4      We are not liable for any improper use of your password or account by you or any other person.

9.5      If you do not log into your Account for 12 months, we may terminate the Account. You will be, if possible, notified in advance. If we are unable to contact you, or you do not take any action to prevent account termination, your Balance will be nullified.

9.6          In the event of Dual Phase purchase, your cryptocurrency purchase will be transferred to the new technology when it becomes available, and the transfer will not affect your Account.

 

  1. RESTRICTIONS AND OBLIGATIONS

10.1    You agree to comply with all applicable laws and regulations, these terms of service and all rules applicable to the use of the Website and the Service.

10.2    You agree not to falsely describe or otherwise misrepresent yourself in any dealings with Affinity.

 

  1. ADMINISTRATION OF MINING 

11.1    During the Contract Term you can use the Website to:
11.1.1. amend or update your registration and contact details;
11.1.2. start or stop your Cloud Machine from mining;
11.1.3. change some parameters of the mining of your Cloud Machine; and
11.1.4. change your cryptocurrency-specific wallet addresses.

11.2    Subject to payment and additional Fees in advance, you can use the Website to:
11.2.1. add a new Cloud Machine; and
11.2.2. increase the processing power of your Cloud Machine.

 

  1. BALANCE

12.1    Your Balance in the Panel is your personal amount of funds available to use, subject to Rounding.

12.2    The Service may have multiple Balances. Currently available balances are:
12.2.1. BTC Balance is measured in BTC (Bitcoins),

12.3    Other Cryptocurrency Balances may be introduced and/or removed at any time.

12.4    Funds mined will be transmitted directly to your Balance. This may take up to 24 hours from the date the coins are generated.

12.5    Balance can be used in the following ways:
12.5.1. You are able to withdraw your balance monthly  if it meets the minimum requirement, unless stated otherwise (subject to change).

12.6    Affinity reserves the right to make retroactive recalculations to Balance(s), Cloud Machines, rates and logs, including but not limited to, in case of any error occurring in the Service, to correct any mistakes or discrepancies.

12.7    A balance may be negative. In such case, the Balance must become positive above the minimum requirement before any withdrawals and/or purchases can be made using it;

12.8 If, at any point in time, the balance reflected on the Panel is different to the balance actually held by Affinity, the latter shall be deemed in all circumstance to be correct.

 

  1. FEES

13.1    We provide a platform which enables individuals to mine cryptocurrencies using our Mining Hardware.

13.2     An initialization Fee equal to fifteen percent (15%) or any such other amount as advised from time to time of the first transaction value shall be deducted from the first transaction, which amount is required to establish the account of the person transacting, and shall be used for communication and technical costs associated therewith.

13.3   The Fees and commissions due are deducted from your Balance once a day immediately after a Payout for all active Cloud Machines (if more than 1 are active).

13.4    Affinity reserves the right to change the fees at any time without prior notice.

13.5    Fees and commissions are non-refundable, and we reserve the right to levy a fee of the outstanding amount to your credit in your account should the balance not be sufficient for the purchase of additional Bitcoins or Cryptocurrency, to cover administration costs.

13.6         If you’ve elected Dual Phase, your Basket will be subject to a twenty five percent (25%) of profit fee for the period that you have cryptocurrency in the Basket, prior to the New Mining Technology coming into operation, to cover operational costs.

 

  1. LIABILITY

14.1    We provide and maintain the Website and the Service on an as is basis and we are liable only to provide our services with reasonable skill and care.

14.2    We give no other warranty in connection with the Website or the Service and we disclaim all liability for:
14.2.1. the accuracy, currency or validity of information and material contained within and/or provided by the Website, the Panel, the Support Service, in email newsletters and social media;
14.2.2. any change in the exchange rate of Bitcoins or any other Cruptocurrency;
14.2.3. any change in the difficulty of mining;
14.2.4. any changes in applicable law or regulation, or the acts of any legislator or regulator in South Africa;
14.2.5. any interruptions to or error of the Website or the Service or other communications network;
14.2.6. the infringement by any other person of any copyright or other intellectual property rights of any third party through any User Content or use of the Website or the Service;
14.2.7. the availability, quality, content or nature of External Sites;
14.2.8. any amount or kind of loss or damage due to viruses or other malicious software that may infect a user’s computer equipment, software, data or other property caused by any other person accessing, using or downloading the Website, the Service or any User Content; and
14.2.9. all representations, warranties, conditions and other terms and conditions which, but for this notice, would have effect;

14.2.10.any errors contained in the Panel, as only information held by and processed by Affinity shall be valid and capable of enforcement.

14.3    We will not be liable in any amount for failure to perform any obligation under these terms of service if that failure is caused by the occurrence of an event beyond our reasonable control.

14.4    Except as provided above there are no other warranties, conditions or other terms and conditions, express or implied, statutory or otherwise, and all of those terms and conditions are hereby excluded to the maximum extent permitted by law.

14.5    To the maximum extent permitted by law, we exclude liability for any losses or damages which may you may suffer, whether the same are suffered directly or indirectly or are immediate or consequential, which fall within any of the following categories:
14.5.1. special damage even though that party was aware of the circumstances in which such special damage could arise;
14.5.2. loss of anticipated savings;
14.5.3. loss of business opportunity and management time;
14.5.4. loss of goodwill;
14.5.5. loss of Cryptocurrency arising as a result of any of your acts or omissions of those of any third party;
14.5.5.1. loss arising out of or in connection with:
14.5.5.2. any defect or insecurity in any systems you use to store or transmit Cryptocurrency or to access or use the Website or the Service;
14.5.5.3. any inaccurate or incomplete information you provide, including Cryptocurrency wallet addresses;
14.5.5.4. any changes to the amount of Cryptocurrency awarded to Miners;
14.5.5.5. any changes to the regulatory, legislative or technical environment applicable to Cryptocurrencies;
14.5.5.6. the acts or omissions of any bank or provider of banking services; or
14.5.5.7. any change in the value of Cryptocurrency howsoever arising;

14.5.5.8. any reduction in the amount in your Basket for the purchase of New Mining Technology due to the above factors.

14.6    To the maximum extent permitted by law, our aggregate liability in respect of any claims made in connection with or arising out of the use of the Website or the Service (whether in contract, tort (including negligence), breach of statutory duty, or otherwise) for direct losses will be limited to the Fees.

14.7    You agree not to use the Website or the Service in any way which:
14.7.1. is unlawful;
14.7.2. may give rise to civil or criminal liability for Affinity; or
14.7.3. may bring Affinity into disrepute.

14.8    You hereby agree to indemnify, defend and hold us and our officers, directors, owners, agents, information providers, affiliates, licensors and licensees (collectively, the “Indemnified Parties”) harmless from and against any and all liability and costs (including reasonable legal fees) incurred by the Indemnified Parties in connection with any claim arising out of:
14.8.1. any fraud or fraudulent misrepresentation you commit;
14.8.2. any inaccuracy or defect of any of the information you have provided to us;
14.8.3. any breach of applicable law or regulation you commit;
14.8.4. any other person’s use of your Account;
14.8.5. any breach by you of these terms of service; and
14.8.6. third party claims arising from your use of the Website or the Service, any of Your Content or any use of your Account (whether or not such use was by you).

14.9    You shall cooperate with us in the defence of any claim. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you.

 

  1. BREACH, SUSPENSION AND TERMINATION

15.1    Without limiting any other rights we have, we may suspend or terminate access to your Account, the Website and/or the Service, nullify your Account Balance and/or hold the ability to withdraw mined funds if you breach any of these Terms of Service.

15.2    If we have grounds to suspect that you are using the Website or the Service fraudulently or improperly, we will suspend your Account until you are able to demonstrate to our satisfaction:
15.2.1. your identity; and
15.2.2. that no fraud or impropriety has occurred or been attempted.

15.3    We will try to give you reasonable notice of any anticipated termination of the Website or the Service.

15.4    If you become aware of or suspect another user or Miner’s breach of these terms of service, or any fraud or impropriety by another user, you must contact us immediately.

15.6    In case of any Credit Card purchase Affinity has the right to place the Customer’s Account on Hold (hold the ability to withdraw any mined funds from the Customer’s Account Balance) for a period of up to 30 days as a security measure of anti-fraud related regulations and policies.

15.7     Termination in other circumstances:

Should you wish to divest, we shall, upon written notification from you, use our best endeavours to source a purchaser (on a willing buyer/willing seller basis) from our incoming clients.  This is to be viewed as a service and not an obligation to you.  Should the divestment occur within twelve months, a fee equal to ten percent of the total amount, determined using the price of Bitcoin, hashrate and the South African Rand/US Dollar exchange rate shall be deducted from the total amount obtained from such sale. You are reminded that, due to the fixed-term nature of this agreement, you initial investment shall decrease monthly, and any termination shall consequently result in only the amount of your unused initial payment being available for refund (less the offset details above).

 

  1. PAYMENT TERMS, ORDER CANCELLATION, ORDER CHANGES AND ORDER REFUNDS

16.1    All invoices are issued in South African Rand by default. Payments performed must be made in South African Rand;

16.2    A Customer is solely responsible for the accuracy of payment, including but not limited to: destination account, transferable amount and payment details:
16.5.1. If the transferred amount is below requested, Affinity reserves the right, at its sole discretion, to adjust the Contract accordingly to received funds or request the missing amount to be paid, before activating the Contract.
16.5.2. If the transferred amount is above requested, Affinity reserves the right, at its sole discretion, to adjust the Contract accordingly to received funds, add the excessive amount to Customer’s Account Balance or return the excessive amount through the payment system the Customer has used to pay for the order initially.

16.3    If the Customer initiates the payment with incorrect/insufficient details and/or to the wrong destination account, Affinity will attempt, if possible, to process the order in a timely matter. If the destination address does not belong to Affinity (directly or via a third-party service) and/or is not related to Affinity in any way, Affinity will not be held responsible and will decline any claims.

16.4    Affinity is not obliged to proactively resolve payment related issues without a claim submitted by the Customer.

16.5    In case of payment related issues a claim must be raised:
16.5.1. A Customer has the right to raise a payment related claim/dispute by contacting support within 14 days from the creation of payment with proof of payment. Requests submitted after 14 days may not be processed.
16.5.2. Affinity reserves the right to request proof of payment, if there are suspicions or facts the payment was not received but the Contract was activated. The Customer is obliged to provide proof of payment within 14 days of reception of such request.

16.6    Proof of payment includes but is not limited to: Affinity order number, unique transaction ID or number, destination account, transferred amount, account statement from the payment system used.

16.7    Credit Card purchases may require proof of ownership of the payment method and an identification request.

16.8    If proof of payment is not provided within 14 days or provided proof is deemed insufficient and/or invalid:

16.8.1 if the claim was initiated by a Customer: Affinity reserves the right to decline Customer’s claim(s);

16.8.2 if the claim was initiated by Affinity reserves the right to adjust/cancel related Contracts and adjust Customer’s Account Balance by amounts mined by related Contract.

16.8. Unless otherwise provided by law or by a particular offer, all purchases are final and non-refundable. We reserve the right to issue refunds at our sole discretion, subject to the retention of the commission as stated above. If we issue a refund, we are under no obligation to issue the same or similar refund in the future.

16.9    Affinity is not obliged to reimburse any funds received as Fees.

16.10  In case of any return of overpaid funds or refund, Affinity may charge a processing fee, dependent on the payment system used.

 

  1. COMMUNICATIONS

17.1    The Website may enable the display of third party content (“User Content”).

17.2    Although we are not obliged to do so, we may remove or reject any User Content.

17.3    You agree that we may process and store any content you submit to the Website (“Your Content”).

17.4    You may be able to send Your Content to other Miners of the Website, and other Miners of the Website may be able to send User Content to you.

17.5    You agree to the distribution of Your Content by us both internally and externally. Therefore, you should ensure that Your Content does not contain information, which you intend to keep confidential or private.

17.6    By making available, posting or transmitting Your Content to the Website, you are granting us a non-exclusive, transferrable, sub licensable, royalty-free, irrevocable, perpetual worldwide license to use and exploit Your Content for any purpose.

17.7    You agree that you are entitled to make available, post or transmit Your Content to the Website.

17.8    You will not make available, post or transmit to the Website any statement, material or other content, nor use the Website in any way, that:
17.8.1. is unlawful or may give rise to civil or criminal liability;
17.8.2. infringes any copyright or other intellectual property right of any third party;
17.8.3. infringes any third party’s rights of privacy or rights of publicity;
17.8.4. includes any computer virus or other malicious software;
17.8.5. is abusive, pornographic, defamatory, discriminatory or obscene;
17.8.6. harasses any other person;
17.8.7. interferes with another user’s use and enjoyment of the Website;
17.8.8. impersonates any moderator, administrator or any staff or any other person connected with Affinity;
17.8.9. contains the confidential information of any other person;
17.8.10. solicits passwords or personal information;
17.8.11. contains video, photographs, or images of any other person without his or her permission (or in the case of a minor, the minor’s legal guardian);
17.8.12. exploits any other person;
17.8.13. we consider inappropriate; or
17.8.14. encourages or provokes any other person to do any of the acts listed above.

17.9    The Website may provide means by which you can communicate with us. We will communicate with you at the email address you have provided or through other means of communication that may be provided by the Website. Notices that are applicable to all our Miners shall be made available on the Website publicly. You will be deemed to have received a notice at the time the email is sent or the time the notice is posted on the Website. We will be deemed to have received a notice when we issue confirmation to you.

17.10  All emails (or other messages) we send are intended for the addressee only.

 

 

  1. DOMICILIUM CITANDI ET EXECUTANDI

18.1 The Parties choose as their domicilia citandi et executandi for all purposes under this agreement, whether in respect of court process, notices or other documents or communications of whatsoever nature (including the exercise of any option), the following addresses:

18.1.1   if to Affinity Mining (Pty) Ltd, at:

Address:  16 Joseph Ave Northcliff ext 12, JHB, South Africa

Electronic mail address:      info@affinitymine.co.za

Marked for the attention of:   Mr Murray Hewlett

18.2     Any notice or communication required or permitted to be given in terms of this agreement shall be valid and effective only if in writing but it shall be competent to give notice by electronic mail.

 18.3     Either party may be notice to the other party change the physical address chosen as its domicilium citandi et executandi to another physical address where postal delivery occurs in South Africa or its postal address or its telefax number, provided that the change shall become effective on the 7th business day from the deemed receipt of the notice by the other party.

18.4     Any notice to a party:

18.4.1 hand delivered at an address chosen as its domicilium citandi et executandi to which post is delivered shall be deemed to have been received on the 7th business day after posting (unless the contrary is proved);

18.4.42 If sent by Email during business hours, it shall be presumed to have been received on the date of successful transmission of the Email.  Any Email sent after business hours or on a day which is not a business day will be presumed to have been received on the following business day;

18.4.3 Notwithstanding anything to the contrary herein contained a written notice or communication actually received by a party shall be an adequate written notice or communication to it notwithstanding that it was not sent to or delivered at its chosen domicilium citandi et executandi.

 

  1. General

19.1    words importing:

19.1.1 any one gender include the other gender and the neuter;

19.1.2 the singular include the plural and vice versa; and

19.2    When any number of days is prescribed in this agreement, same shall be reckoned exclusively of the first and inclusively of the last day unless the last day falls on a Saturday, Sunday or public holiday, in which case the last day shall be the next succeeding day which is not a Saturday, Sunday or public holiday;

19.3    Where figures are referred to in numerals and in words, if there is any conflict between the two, the words shall prevail;

19.4    Expressions defined in this agreement shall bear the same meanings in schedules or annexures to this agreement which do not themselves contain their own definitions;

19.5    The rule of construction that the contract shall be interpreted against the party responsible for the drafting or preparation of the agreement, shall not apply.

19.6    This Agreement and the relationship between the Parties shall be governed by the law of the Republic of South Africa.

 

  1. DISPUTE RESOLUTION

Save as otherwise stated herein, in the event of a dispute between the Parties, they each agree to attempt to resolve same between themselves, and only in the event that a dispute remains unresolved for a period of 30 (thirty) days, then each Party agrees that they may take whatever steps may be appropriate for the resolution of the dispute, including issue of summons.  In the event that issuing summons or bringing an Application before Court is necessary, the Parties consent to the jurisdiction of the Courts of Botswana.

 

  1. PROTECTION OF PERSONAL INFORMATION ACT 4 OF 2013(“POPI”)

21.1    Any information and data provided by the Customer to Affinity and used by Affinity directly or indirectly in the performance of this Agreement shall remain at all times the property of the Customer and shall be identified, clearly marked and recorded as such by Affinity on all media and in all documentation.

21.2    Affinity shall take all reasonable precautions to preserve the integrity and prevent any corruption or loss, damage or destruction of the Customer’s data and information.

21.3   In the event of termination of this Agreement Affinity shall when directed to do so by the Customer, and instruct all its agents to, erase all information and data provided by the Customer and all copies of any part of the information and data provided by the Customer from Affinity’s systems.

21.4    Affinity agrees to comply and have adequate measures in place to ensure that its staff comply at all times with the provisions and obligations contained in POPI when it becomes effective (and as amended from time to time)

 

  1. WHOLE AGREEMENT

Apart from the matters set out in this agreement, neither party shall have any other or further claims against the other, which claims are hereby respectfully waived and abandoned to the extent that they exist, unless they should rise under this agreement. The provisions of this paragraph shall not apply to any agreement in writing entered into by the Parties subsequent hereto.

 

  1. NON-WAIVER

No waiver which either of the Parties may allow to the other, of any of their obligations arising out of or in terms of this agreement, shall prevent the party from relying upon strict compliance of all of the obligations of the other party upon any other or subsequent occasion.

No variation of any of the provisions of this agreement, nor consent to any departure by the Parties there from, shall be of any force or effect unless the same shall be confirmed in writing and signed by the Parties. Such variation, waiver or consent which is so given or made shall be strictly construed as relating strictly to the matter in respect whereof it was made or given.

 

  1. SPECIAL NOTICE

We encourage all our prospective Customers to take special notice of all paragraphs which amount to waivers and disclaimers on our behalf. In particular, we urge all Customers to take notice of the provisions relating to management fees.

 

 

 

TERMS AND CONDITIONS APPLICABLE TO DUAL-PHASE PURCHASING: CRYPTOCURRENCY PHASE

When using any of Affinity services in relation hereto, you are agreeing to the following additional conditions in full.

All users of Affinity ’s services shall be referred to as the “customer”.  The website operated by Affinity  will be referred to as the “website”.

Risk Notice

Bitcoin and other cryptocurrency is not backed or value guaranteed by any financial institution; when purchasing cryptocurrency, the customer assumes the risk that the cryptocurrency may become worthless.  Customers should research and consider the risks before purchasing any cryptocurrency.  Affinity  makes absolutely no guarantee about the future value of the cryptocurrency purchased.

 

No foreign currency exchange

The customer must agree never to exchange Bitcoins purchased from Affinity  for any currency other than that used to purchase it.  The customer must also guarantee that any cryptocurrency the customer sells to Affinity  has never been involved in exchange with any currency other than that used to purchase it.

Customer input errors

It is the sole responsibility of the customer to check the accuracy of information entered and saved on the website.   Account details displayed on the order summary webpage will be the final transfer destination.  In the case that this information is incorrect, and funds are transferred to an unintended destination, Affinity  shall not reimburse the customer and shall not transfer additional funds.  As such, customers must ensure the address and bank information they enter is completely correct.

Must own the address used

The customer must send any cryptocurrency payments to Affinity  from an address owned by the customer.  Affinity  may need to refund the payment, such as if the bank information is incorrect and customer cannot be contacted.  Affinity  will accept no responsibility or issue any compensation if the customer is unable to access a cryptocurrency refund due to sending their initial payment from a shared/online wallet.

Expired orders

If Affinity  receives payment for an order that has already expired, Affinity  reserves the right to recalculate the cryptocurrency value in comparison to the currency used to purchase it at the time of processing the transfer to the customer.  This may result in the customer receiving less cryptocurrency or official currency than the original ordered amount.

Affinity  requests that no customer completes payments for expired orders, but instead places a new order at the time of their payment.

Order under-payment

If the customer pays less than the payment amount for their order and the order expiration time has passed, Affinity  reserves the right to either:

  1. a) Cancel the order and refund the payment amount
    or
    b) Recalculate the order totals based on the payment amount received and the then current cryptocurrency value.

Order over-payment

It is the customers responsibility to send the correct payment amount, if the customer sends an amount great than the amount specified on the order, Affinity  will process the order at the original amount specified on the order.  The amount of over-payment will not be considered in the order, and will not be refunded.

Invalid customer details

Affinity  reserves the right to cancel and refund any orders with false, or seemly false, customer information, including incorrect or invalid name, address, nationality, or Identity numbers.

Additional information

Affinity  reserves the right to contact the customer to request additional information related to their identity or source of funds, if Affinity  considers the order suspicious.

Information Privacy

Upon the affectiveness of the Protection of Personal Information Act, Affinity shall be obliged to comply therewith in order to protect customers’ personal information, and to this end additional information may be required from the customer.

When legally obliged, Affinity  will provide customer information to government agencies upon legal request, court order or presentation of a warrant.

Indemnity

The customer agrees to indemnify, defend, and hold harmless Affinity , its affiliates and its and their respective owners, investors, contractors, officers, directors, members, managers, partners, shareholders, licensors, suppliers, customers, employees, agents, third-party advertisers, technology providers and service providers from and against any loss, damage, cost, or liability (including, reasonable attorneys’ fees) resulting from or relating in any way to a third-party claim, demand, action or proceeding that arises out of this Agreement or the Website, including but not limited to in relation to: (a) your use, non-use or misuse of, or connection to the Website, the Services and any Content (including without limitation your Content and any third party Content) forming part of the Website;

Anti-Money Laundering (AML)

It is expressly prohibited for the customer to utilised their account for the purpose for cleaning money, hiding money, in any way attempting to obscure the source of funds, or attempting to circumvent financial regulations or restrictions.

Affinity will analyse customer account activity for any signs of money laundering; any customer whom, in the opinion of Affinity, has the appearance of involvement in money laundering activities will have their account terminated.

Prohibited Nationalities

Any customer holding citizenship, permanent residency, or who has been a tax resident in the United States is prohibited from using any of the services provided by Affinity , unless such customer has informed the United States Government of his/her intention to do so and has obtained the required authority to purchase cryptocurrency.

Basket and Wallet Services

When buying cryptocurrency using an email address, the customer is agreeing to create an account with Affinity  for the storage of their purchased cryptocurrency.  By using the buy-to-email service the customer is accepting all the required terms and conditions, in addition to Affinity  terms and conditions listed in this contract.

The customer is responsible for changing their wallet service password upon receipt of their order.  Affinity  will not be responsible for cryptocurrency stolen from the customers wallet due to a customer password breach.

The customer understands that, for certain transactions, use will be made of a Basket, which makes use of the Wallet to diversify the spread of cryptocurrency, in an attempt to yield greater value to the customer.  The same waiver of liability applies to Basket as to Wallet.

Notwithstanding anything contained in these terms and conditions, you understand that you Wallet and Basket are subject to a diminution factor of thirty three and one third percent (33.33%) per annum.  In the event of profitability conituing to be negative for a period of twenty one days or longer, all mining operations in relspect of you Wallet or Basket shall be terminated.

 

Merchant Terms of Services

No Guarantee of Future Service

Affinity  may any time temporarily or permanently disable the merchant service for some or all merchants. The merchant has a guarantee of receiving their previously exchanged balance; but has no guaranteed right to future service.

Affinity  reserves the right to change these terms at any time without prior notice or notification of the changes.


 

Monthly and other fees

Affinity  shall charge fees as follows:

  1. Initiation fees:
  2. Withdrawal fee:
  3. Management fee: