CROSS Token Sale Terms of Service
This Token Sale Terms of Service does not constitute any proposal, recommendation, or solicitation of any investment, nor does it propose, recommend or solicit purchase of securities in any jurisdiction. This agreement has not been submitted or registered to any regulatory authorities of any jurisdiction nor has been reviewed, confirmed by regulatory authorities, nor is it scheduled.
Participants and sellers are individually or collectively referred to as "parties".
This token sale is a purchase type cloud funding which is carried out globally. This token is merely a record on the block chain on contributions by purchasers, and receiving records on this block chain is a reward of supporting the CROSS project. Therefore, by "holding" this token, purchasers do not acquire any rights explicitly or implicitly. Among other things, it is stated at the buyer that the book token is entitled to receive some ownership, equity, equity or similar rights, or part of future sales, intellectual property rights, I understand that it does not represent the right to participate in any form to an affiliated company nor does it grant these rights. This token is not designed as prepaid payment means, electronic money, crypto currency, securities, commodities, or any other kind of financial instrument. The Company reserves the right to make this token available for trading on the crypto currency exchange in the future, but it does not assume such obligation.
2. Scope of this Terms of Service
Regarding the service provided by CROSS VALUE TOOLS, if contradiction or conflict arises between these Terms of Service and CROSS VALUE TOOLS Terms of Service, etc. regarding matters arising in connection with the use of this token, the CROSS VALUE TOOLS Terms of Service Etc. shall be applied with priority.
3. Cancellation; exclusion of purchase offer
The purchase of this token from the seller during the sales period is the final one, and the purchaser can not request a refund or cancellation except for those obligated by applicable laws and regulations, etc. In view of the circumstances surrounding token sales, we reserve the right to forfeit or cancel the application of this token purchase at its discretion at any time.
4. Procedures and specifications of this token sale
We will notify you on the ICO page of important items concerning the procedures and specifications of this token sale (including details such as the date and time of sale, pricing, planned sales quantity, intended use of revenue etc, including but not limited to this) I will. By purchasing this token, the purchaser understands these procedures and specifications and acknowledges that there is no objection.
5. Risk recognition and assumption
Purchaser acknowledges and accepts the risks described in the separate sheet regarding the purchase, maintenance or use of this token. By purchasing this token, the purchaser explicitly recognizes these risks and assumes these risks.
The purchaser purchases tokens from the seller, uses the wallet, vault, and other token storage mechanisms used to hold the tokens, credentials necessary to access secret keys and other storage mechanisms, etc. We will assume the responsibility to take reasonable measures to preserve the environment. If the buyer's private key or other credentials are lost, the purchaser may lose access to this token. The company or developer is not responsible for any such loss.
7. Personal Information
Sellers may, at their sole discretion, decide that it is necessary to acquire certain information on purchasers in order to comply with laws and regulations, etc. related to this token sale. In this case, the purchaser agrees to promptly provide such information in response to the request, the purchaser provides such information and the sale of this token to the purchaser is subject to applicable laws and regulations, etc. The purchaser shall recognize that the seller may refuse to sell or deliver the token until it is determined that it is acceptable.
8. Representation and Warranty
By purchasing this token, the purchaser shall assert and guarantee the following:
(b) In order to understand this Terms of Service and to evaluate the risks and impacts associated with the purchase of this token, the function of this token, the transfer mechanism of the cryptographic token and other important characteristics, the mechanism of the token storage (token wallet etc. ), Fully understand block chain technology and block chain based software system.
(c) To obtain sufficient information on this token, in order to make decisions based on adequate information about support by this token.
(d) Understand that this token does not grant any form of rights relating to CROSS VALUE TOOLS or the Company or its affiliates. Rights that the purchaser should understand that it is not granted in this issue include the rights (including all forms of intellectual property rights) related to voting, distribution, redemption, liquidation, property, or other property rights and legal rights Including.
(e) The buyer purchases this token in order to support CROSS ecosystem that can be constructed in the future. The buyer does not purchase the token for any other purposes including but not limited to investment, speculation, and other financial objectives.
(f) Purchaser's purchase of tokens shall include (i) the legal capacity in the purchase of this token in the purchaser's jurisdiction and the conclusion of a contract with the seller and other threshold requirements, (ii) Any foreign exchange and regulatory restrictions applicable to the purchaser's jurisdiction including, but not limited to, any government or other consent that may be required for acquisition Something.
(g) To comply with any applicable tax obligations in the purchaser's jurisdiction, arising from the purchase of this token.
(h) When a purchaser purchases this token on behalf of an entity, the purchaser has the authority to consent to this Terms of Service on behalf of this entity, and this entity may purchase the purchaser or other officers and employees of this entity Or that the agent is responsible for violating this Terms of Service by the agent (In this case, "Purchaser" in this Terms and Conditions shall mean the joint purchaser and such entity.) .
(i) purchasers are (i) not citizens or residents of areas where access to this token is prohibited by treaties and administrative measures, such as applicable laws and regulations, (ii) other sovereignty including the United States It is not a citizen or a resident of the area subject to national sanctions or embargoing measures, it has no location in this area, (iii) a US Commerce Department's prohibited person or group list, a special designated citizen or block of the US Treasury It is not an individual employed by an individual or an entity specified by the list of persons identified or the US Department of State 's defunct party list, (iv) past economic relations, business relations, employment Relations or delegated relationships have never been made, and commercial transactions, provision of profits, transfer, or other transactions (temporarily and not continuously) have not been implemented.
The seller and the company believe that suspension, deprivation, other sellers and the company of the purchaser's account are appropriate in its own discretion, in the event of violation of any one of the representations or warrants prescribed in Article 8 I explicitly reserve the right to implement the measures here.
(a) TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE PURCHASER SHALL BE (i) PURCHASE OR USE BY THE PURCHASE BY THIS TOKEN, (ii) RESPONSIBILITY OR RETIREMENT BASED ON THIS AGREEMENT, (iii) Violation, (iv) infringement of any right of any person or entity, any claims, claims, litigation, damages, losses, expenses, costs (including attorney's fees) arising out of or arising out of or above, The Company and its affiliates and their employees, officers, directors, contractors, consultants, shareholders, suppliers, distributors, service providers, parent companies, subsidiaries, affiliates, agents, persons in charge in the past, present or future, We will indemnify the predecessor, succeedor, assignee ("parties to the Company"), grant defense, or do not give any other damage. (b) The Company reserves the right to take measures for the defense of any claims subject to indemnification under paragraph 9 (a), separately under the expense of the purchaser. This indemnification wording shall be added to the indemnification clause stated in the agreement between the purchaser and the Company and shall not be substituted.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, AND (A) THIS TOKEN IS SUBSTITUTED AS IS WITHOUT WARRANTY AND PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, WITHOUT WARRANTY OF ANY KIND, Explicitly deny all implied warranties of this token including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, title and noninfringement, (B) this token is sufficiently reliable , Neither representation nor error or no representation or warranty that the purchaser satisfies the requirements or that defects in this token will be corrected in the future. Also, (C) Seller may not make any representations or warranties as to whether the mechanism of delivery of this Token or this Token is invaded by viruses or other harmful components and also guarantees these representations I will not do either.
Because some jurisdictions do not allow the exclusion of specific warranties or the implied terms in contracts with consumers, some or all of the warranty exclusion or disclaimers in this section apply to certain buyers It may not be done.
11. Limitation of Liability
(B) The restrictions prescribed in paragraph 11 (A) shall also apply to the responsibility of serious negligence, fraud, or intentional or negligent conduct of the developer or the company, and also in these cases The application of this provision shall not be restricted or excluded.
(C) In some jurisdictions, limitation or exclusion of incidental or consequential damages is not permitted. Therefore, some of the restrictions in this section may not apply to specific buyers.
To the maximum extent permitted by applicable laws and regulations, purchasers, whether known or unknown, including, but not limited to, petitions for negligence, developers, the Company and each affiliate of the Company, , From disputes between users, and from any liability, claim, demand, or (actual or consequential) damages of any kind or nature arising out of or in connection with any act or omission of third parties.
13. Governing Law and Jurisdiction
In the event that any of the terms, provisions or provisions of this Terms of Service is illegal, invalid or unenforceable, its terms, provisions or provisions may be separated from these Terms and Conditions, the remaining terms of the Terms of Service, clauses Or the conditions or provisions of the Terms and Conditions, the provision or provision or the validity or enforceability of the provisions.
Last update date: May 31st, 2018
Risks concerning purchase, sales and use of tokens
By purchasing, maintaining and using this token, the buyer explicitly recognizes and assumes the following risks:
1. Risk of losing access to this token due to loss of private key
The combination of secret key or secret key is essential for the control and disposition of book tokens stored in purchaser's digital wallet or vault. Thus, the loss of the required secret key associated with the digital wallet or vault in which the buyer's book token was stored is the same result as the token is lost. In addition, this token may be stolen by any third party who gains access to such secret key, such as by accessing the login information of the hosted wallet used by the purchaser.
2. Risk of mining attack
Like other distributed block cipher token decentralized cryptographic tokens, tokens are being examined for token transactions on the block chain, dual payment attacks, majority mining power attacks, selfish mining attacks, but not limited to It is susceptible to attack by a person. Any attacks pose a risk to scheduled execution by this token and record of transactions on this token if this is successful.
3. Risks of hacking and security weaknesses
Hackers and other malicious groups and organizations may try to intervene in this token in various forms such as malware attacks, DoS attacks, agreement based attacks, civil attacks, smart fingering and spoofing.
4. Risks related to token market
This token is intended to be used only to expand the ecosystem of CROSS. Sellers do not guarantee or support the secondary distribution and external evaluation of this token, nor do they promote it. This creates illiquidity risk for book tokens held by purchasers.
5. Risk of loss not covered by insurance
Unlike accounts in bank accounts and other financial institutions, this token can not be covered by any insurance unless the buyer gets a private insurance in particular and is insured. Therefore, in the case of loss or loss of utility value, there is no public insurance company such as the Deposit Insurance Corporation that the purchaser can rely on, and there is no private insurance that the seller arranges.
6. Risks related to uncertain regulations and enforcement measures
In many jurisdictions, regulatory status of tokens, token sales, and distributed ledger technology is far from clear or confirmed. It is difficult for regulators to predict how to apply or apply the existing regulations on such technology and its uses, including this token. Likewise it is difficult to predict how Congress or regulatory agencies will implement or implement changes in laws and regulations affecting distributed ledger technology including this token. Regulatory measures are negative to the value of this token in various ways, such as before the handling of the token at the crypto currency exchange, that the token is determined to be a regulated item that requires registration or authorization Can be influenced. Regulatory measures or changes in laws and regulations have made it illegal to operate in a jurisdiction or it is not commercially desirable to obtain regulatory approvals necessary to operate in a jurisdiction , The company may suspend its operation in the jurisdiction.
7. Risks arising from taxation
The taxation characteristics of this token are not clear. In connection with the purchase of this token, purchasers must seek advice on taxes themselves and may result in unfavorable tax treatment, including withholding tax, corporate income tax, and tax return declaration is there.
8. Risks arising from not having sufficient interest in applications
There is the possibility that the CROSS platform will not be used by many companies and projects, thus more generally the public interest towards the generation and development of distributed ecosystems will be limited. If they are not used or are not interested in people, they will have a negative effect on the development of the CROSS platform, thereby compromising the potential utility of this token.
9. Risks related to the development and maintenance of the CROSS platform
The CROSS platform is still under development and there is a possibility that significant specification changes will occur in the future. The developer intends to develop this token and the CROSS platform, and intends to step on the commercially reasonable stage towards that, but for various legitimate reasons, this token and the CROSS platform specifications There is a possibility that changes have to be made.
This may create the risk that the purchaser's purchase expectations may not be met as the token and the CROSS platform are further developed and maintained. Also, despite the developer's sincere efforts to develop and maintain the CROSS platform, the CROSS platform may not function properly, or may not be able to develop and maintain sufficiently, and these are the CROSS platform and the book There is a possibility of negatively affecting the token.
10. Risk of unfavorable changes in Ether and other currency values
We intend to use sales based on token sale as funds for maintenance and development of the CROSS ecosystem. The sales of the token sale is bit coin, ether, denominated and may be converted to other encryption currency or legal currency. If the value of Ether or other currency fluctuates adversely after the sales period, the seller may not be able to allocate funding for development or may not be able to develop and maintain it in a manner that was intended for the CROSS platform .
11. Dissolution risk
Due to numerous reasons such as unfavorable fluctuations in the value of cryptographic currency or statutory currency, decrease in the usefulness of this token, failure of commercial relations, or objection to the ownership of intellectual property, the seller or the company dissolved there's a possibility that.
12. Unexpected risk
Cryptographic tokens like this token are new unverified technologies. In addition to the risks included in this Exhibit, there may also be other risks currently associated with purchasing, holding or using the token that the seller can not foresee. Such risks may arise more actually as unexpected variations or combinations of the risks discussed in this Exhibit.
13 About identity confirmation (KYC)
Distribution of VXCR will be 1 person account done KYC.
To verify your identity, you need a certificate issued by a public institution with a face picture that you know with yourself.
First edition May 31, 2018