Terms and Condition

May 26th 2024, 5:11:31 pm
Terms and Conditions

1. Introduction

These terms and conditions govern your use of Ibx (the 'Website') a product of IBXPEERS MARKETPLACE LTD RN:6965508, a peer-to-peer trading company that allows users to exchange fiat currencies amongst themselves at an agreed price.Transactions are done from the seller bank account to the buyer bank account, with Ibx acting as a marketplace and no 'money' actually passing through it. By using the Website, you agree to these terms and conditions infull. If you do not agree with any part of these terms and conditions, you must not use the Website.

2. User Accounts

In order to use the Website, you must create an account and provide accurate and complete information about yourself. You are responsible for maintaining the confidentiality of your account information and for all activities that occur under your account. Ibx reserves the right to suspend or terminate your account at any time and for any reason.

3. Transactions

Ibx facilitates peer-to-peer transactions between users. Users agree to complete transactions in good faith and to follow all applicable laws and regulations. Ibx is not responsible for the actions of its users and does not guarantee the accuracy or quality of any transaction.

4. Fees

There are no fees for conducting transactions in the Ibx platform for the general users. However, Ibx charges fees for certain services and group of users, such as transaction fees and verification fees for merchants and partners. The exact fees depend on the type of transaction and verification to be carried out as clearly stated on the Ibx Merchant/Partner handbook

5. Deposits and Withdrawals

Ibx does NOT support deposit NOR withdrawals. All transactions are carried out from the bank accounts of the respective parties. We only provide a platform to faciliate the transactions amongst the concered parties.

6. Prohibited Activities

Users are prohibited from using the Website for any illegal or unauthorized purpose, including but not limited to money laundering, terrorist financing, or other criminal activities. Users must comply with all applicable laws and regulations.

7. Intellectual Property

All content on the Website, including but not limited to text, graphics, logos, and images, is the property of Ibx or its licensors and is protected by copyright and other intellectual property laws. Users may not use, reproduce, or distribute any content from the Website without the express written consent of Ibx.

8. Disclaimer of Warranties

The Website and all content, materials, and services provided on or through the Website are provided on an 'as is' and 'as available' basis. Ibx makes no representations or warranties of any kind, express or implied, as to the operation of the Website or the information, content, materials, or services included on or through the Website.

9. Limitation of Liability

In no event shall Ibx be liable for any direct, indirect, incidental, special, or consequential damages arising out of or in connection with the use of the Website or any content, materials, or services provided on or through the Website.

10. Indemnification

Users agree to indemnify and hold Ibx and its affiliates, officers, agents, and employees harmless from any claims, damages, or expenses, including reasonable attorneys' fees, arising out of or in connection with their use of the Website or any violation of these terms and conditions.

11. Changes to Terms and Conditions

Ibx reserves the right to update or modify these terms and conditions at any time and without prior notice. Users are responsible for regularly reviewing these terms and conditions.

12. Governing Law

These terms and conditions shall be governed by and construed in accordance with the laws of the country where Ibx is registered and operates.

13. Dispute Resolution

Any disputes arising out of or in connection with these terms and conditions shall be resolved through arbitration in accordance with the rules of the arbitration body designated by Ibx. The arbitration shall be held in the country where Ibx is registered and operates. The decision of the arbitrator shall be final and binding on both parties. Each party shall bear its own costs and expenses of the arbitration, including attorneys' fees.

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