Terms Of Service Agreement
Updated on 13 September 2017
If you choose to use thaibtc.com (the “Site”) and any of the features of this site (collectively, the “thaibtc.com Services”), you will be agreeing to abide by all of the terms and conditions of these Terms of Service between you and ThaiBTC (“ThaiBTC”, “thaibtc.com”, “us” or “we”).
ThaiBTC may change, add or eliminate portions of these Terms of Service at any time, which shall become instantly effective upon posting. Users should be concerned to review these Terms of Service prior to each use of the Site and by continuing to use this Site, you agree to any modifications. Please check the header of these Terms of Service to view the date of the last updated version.
ThaiBTC provides services for buying/selling/investing Bitcoin. Users must declare their invest amount of Bitcoin. Users also need to provide their bank details, Bitcoin address if they want to receive capital with interest in Bitcoin. Bitcoin will be calculated with the “buy” price if a user chooses this option. We are not liable for the actions of independent wallet services listed on the Site.
Use of Services
ThaiBTC services are mostly designed for Buying/Selling and Investing Bitcoin. The user can Buy or Sell Bitcoin through ThaiBTC. Users are also able to Invest Bitcoin for a certain amount of interest
- The user/customer, who intends to buy Bitcoin through ThaiBTC, needs to pay to ThaiBTC bank account and ThaiBTC will send the Bitcoin to the Buyer’s provided Bitcoin account. The terms of using this Bitcoin Buying option will be regulated as it is described on the ThaiBTC website and controlled by this “Terms and Conditions”
- Similarly, the user/customer who intends to sell Bitcoin to ThaiBTC, needs to transfer Bitcoin to ThaiBTC provided Bitcoin Account and ThaiBTC will pay to the Sellers’ provided Bank account. The terms of using this Bitcoin Selling option will be regulated as it is described on the ThaiBTC website and controlled by this “Terms and Conditions”
- ThaiBTC also have Bitcoin investment option where any user can invest Bitcoin for a certain amount of interest. When any user wants to invest Bitcoin, they must state how many Bitcoin they want to invest. They also need to provide one of the following.
- Bitcoin address (If they want to receive capital and interest in Bitcoin)
- Bank details (If they want to receive capital and Interest in Baht).
- And when the user chooses this Bitcoin investment option, the price will be calculated at that future "buy" price and sent to their bank detail. The interest rate and end of term date will be shown on ThaiBTC investment option and User will get capital and interest back when the term ends. This Investment Policy will be regulated as it is described on the ThaiBTC website and controlled by this “Terms and Conditions”
To be eligible to use the ThaiBTC Services, a user must be at least 18 years old. If you are under the age of 18 and you wish to engage with our services please contact us at [email protected]
In order to engage with our Bitcoin buying/selling/investing services, the user must create an account and provide all requested information; including any additional information requested beyond fields listed on the standard sign-up forms. When the user creates an account, they must agree to provide all verifiable information and Users are limited to creating only one account on the website.
All contents of ThaiBTC, including but not limited to the website (thaibtc.com), its logo, all images, banner etc. are proposed for your personal non-commercial use. All materials published on the Services (the “Content”) are protected by copyright, and owned or controlled by ThaiBTC or the party credited as the provider of the Content.
A user may download or copy the Content and other downloadable items showed on the Services for personal use only. Copying or loading of any Content for other than personal use without prior written permission is particularly prohibited. The Content of the Services is owned or licensed to ThaiBTC.
The Website may contain translations of the other version of the content available on the Website. These translations are provided only as a convenience. In the event of any conflict between the English language version and the translated version, the English language version shall take preference. If you notice any inconsistency, please report them on ThaiBTC.
User Generated Content
You shall not upload to, or allocate or otherwise publish on the Services any libelous, offensive, obscene, abusive, or otherwise illegal material. You agree that you will not threaten other users, use offensive language, or deliberately disrupt discussions with spam.
The Services shall be used only in a noncommercial manner. Without the express approval of ThaiBTC, User shall not distribute or otherwise publish any material containing any solicitation of funds, advertising for services.
You acknowledge that any submissions you make to the Services (a “Submission”) may be edited, removed, modified, published, transmitted, and displayed by ThaiBTC and you waive any rights that you may have in having the material altered or changed in a manner not agreeable to you. A Proposal includes but is not limited to a forum message or comment.
You are solely responsible for the content of your Submissions. However, while ThaiBTC does not and cannot review every Submission and is not responsible for the content of these messages, ThaiBTC reserves the right to delete, move, or edit Submissions that it, in its sole discretion, deem abusive, defamatory, obscene, in violation of copyright or trademark laws, or otherwise unacceptable.
By making a Proposal, you are consenting to its display and publication on the Site and in the Services and for linked online and offline promotional uses.
Access and Availability of Services and Links
ThaiBTC contains links to other associated sites, resources, and publicists. Since we are not responsible for the accessibility of these outside resources, or their contents, you should direct any concerns regarding any external linking site.
Representation and Warranties
ThaiBTC does not represent or endorse the accuracy or reliability of any information, opinion, statement, or other advice displayed, uploaded, or distributed through the Services by any user, information provider or any other person or entity. You acknowledge that any reliance upon any such opinion, advice, statement, memorandum, or information shall be at your own risk.
The services are distributed on an “as is” basis without warranties of any kind, either express or implied, including, without limitation, warranties of title or implied warranties of merchantability or fitness for a particular purpose. You hereby acknowledge that use of the services is at your own risk.
In connection with ThaiBTC, you will not: Violate any law, statute, ordinance, or regulation (for example, those governing financial services, precise substances, or consumer protections); intentionally try to defraud other ThaiBTC users. Infringe ThaiBTC or any third party's copyright, patent, symbol, or intellectual property rights. Provide false, wrong, or misleading information. It is strictly prohibited to take any action that forces an unreasonable or disproportionately large load on our arrangement; or intercept, or expropriate any system, data, or information. In any case, if any user violates any provision of this Terms and Condition, their user account will be terminated and will be prohibited to use our services in any condition.
Risk Related to Use of Bitcoin
- Mistakes made by the consumer of ThaiBTC of any Bitcoin -related software or service, e.g., forgotten passwords, payments sent to wrong Bitcoin addresses.
- Technical failures in the hardware of the user of ThaiBTC of any Bitcoin-related software or service, e.g., data loss or damaged storage device.
- User experienced Security problems of any Bitcoin-related software or service, e.g., illegal access to users' accounts.
- In using our Services, you may face or utilize services provided by third parties, including links to web pages and services of such parties (“Third Party Content”). We do not control, recommend or adopt any Third-Party Content and will have no responsibility for Third Party Content including, without limitation, material that may be misleading, incomplete, erroneous, aggressive, indecent or otherwise objectionable in your jurisdiction. Your dealings with such third parties are solely between you and the third parties. ThaiBTC is not liable for any loss or damage of any sort incurred as a result of any such transactions and you understand that your use of Third Party Content, and your interactions with third parties, is at your own risk.
- Bitcoin value tends to fluctuate on a minute to minute basis. Thus, there may be increase or decrease in the value of the Bitcoins. Bitcoins are subject to large swings in value and may even become worthless. There is an inherent risk that losses will happen as a result of buying, selling or investment in Bitcoins.
The investment in Bitcoin can lead to loss of money over short or even long periods. The investors should expect prices to have large range fluctuations. The information published on the Website cannot provide assurance that the investors would not lose money.
ThaiBTC may terminate your access to the Site (thaibtc.com), without cause or notice, which may result in the forfeiture and damage of all information related to your account. All provisions of this agreement that, by their nature, should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, security, and margins of liability.
Limitation of Liability
Users of ThaiBTC will be responsible for their actions in connection with the use of the Website, Service, and their Accounts. Users are also responsible for protecting access information to the Website including, but not limited to, usernames, passwords, and bank account details.
ThaiBTC is not responsible for the outcome, whether positive or negative, of any action performed by any of its users within or related to the Website. Some deposits and withdrawal methods need ThaiBTC to use personal details of the user including, but not limited to, name, address, email, phone number, and bank account number, IFSC code, etc. And you agree that ThaiBTC can use this information to facilitate deposits and withdrawals. The liability of ThaiBTC shall be limited to its users for any unauthorized or prohibited use of ThaiBTC services or for any unauthorized transaction.
If any non-eligible user tries to use our services by any fraudulent means which is or are in non-traceable nature, ThaiBTC will have no liability for such kind of use of services. The user will have sole liability for such kind of use of services.
Governing Law and Jurisdiction
If any part of these Terms is deemed unlawful, void, or for any reason unenforceable, then that part will be considered severable and will not affect the validity and enforceability of the remaining parts. We designed our services for the Kingdom of Thailand as well as the global community. Our servers and operations are however located primarily in the Kingdom of Thailand and our policies and procedures are based primarily on the Kingdom of Thailand’s law. Because of this, the following provisions apply specifically to users found outside of the Kingdom of Thailand:
- You consent to the transfer, storage, and processing of your information, including but not limited to User-Generated Content and any Personal Data, to and in the Kingdom of Thailand and/or other countries;
- You agree to comply with all local laws, rules, and regulations including, without limitation, all laws, rules, and regulations in effect in the country which you exist in and the country from which you access the Services. The Services are not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such spreading or use would be contrary to the law or regulation, or which would subject “ThaiBTC’s networking platform or its other services to any registration requirement within such jurisdiction or country.
Dispute and Complain Management
This Agreement shall be governed and construed in accordance with the laws of the Kingdom of Thailand. Any dispute, controversy or claim arising out of or relating to this “Terms and Condition or the breach, termination or invalidity thereof, shall be referred to and primarily resolved upon a mutual discussion of both parties. If the discussion fails, such mutual discretion will be resolved by arbitration in accordance with the Arbitration Rules of the Thailand Arbitration Center in force at the time and shall be under the administration of THAC Thailand Arbitration Center.
Anti-Money Laundering (AML)
Money laundering is an offense which most countries, including Thailand, treat as a top priority to combat. Although it is not an offense that causes death, serious injuries or violation of freedom of an individual, it enables organized crimes to cause damages to countries’ economy and security.
Money laundering is the process of making illegally gained proceeds (i.e. “dirty money”) appears legal (i.e. "clean"). Typically, it involves three steps: placement, layering, and integration. First, the illegitimate funds are furtively introduced into the legitimate financial system. Then, the money is moved around to create confusion, sometimes by wiring or transferring through numerous accounts. Finally, it is integrated into the financial system through additional transactions until the "dirty money" appears "clean".
The Anti-Money Laundering Office was designated by the National Corporate Governance Sub-Committee on Commercial Bank, Securities, and Insurance Sectors to chair the working group on Anti-Money Laundering and Combating the Financing of Terrorism (AML-CFT) under the Report on the Observance of Standards and Codes (ROSCs). The working group recognized that the KYC/CDD policies not only help financial institutions detect, deter, and prevent ML-FT, they also are a mandate for action if Thailand wishes to be viewed as compliant with the international standards in AML-CFT.
While ThaiBTC does not fall within the scope of the AML-CFT obligations in Thailand, as the ThaiBTC don’t have any direct digital currency transferring system to any third party and the ThaiBTC has implemented systems and procedures that closely align to the Thailand AML legislation. This decision reflects the ThaiBTC’s desire to prevent money laundering and not be used by criminals to launder proceeds of crime.
Notification of Changes
We may sometimes ask you to review and to clearly agree to (or reject) a revised version of this “Terms and Condition” In such cases, changes will be effective at the time of your acceptance of this “Terms and Condition”. If you do not agree at that time, you are not allowed to use the Services.