This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the SOFTWARE-ASA-SERVICE (“SaaS”) / (“SaaS+”). This STC does not require any signing.
“Annual Fee” refers to the applicable annual fee as agreed and set forth in Order Form;
“Copy Trading” refers to an automated or semi-automated trading functionality provided by the platform whereby a user (“Copy User” or “Follower”) authorises the system to replicate, in whole or in part, the trading actions or strategies of another user or trader (“Lead Trader” or “Key Opinion Leader” / “KOL”) in the Copy User’s account, based on parameters such as trade size, leverage, asset type, margin mode, or risk ratio.
Copy Trading may involve the automatic execution of buy, sell, open, close, stop-loss, or take-profit orders in the Copy User’s account in accordance with the actions initiated by the Lead Trader, subject to system rules, market conditions, and the Copy User’s account balance, margin, and settings.
The Copy User retains full legal ownership of all assets and positions executed in their account and remains solely responsible for all profits, losses, fees, and risks arising from such replicated trades. Copy Trading does not constitute portfolio management, investment advice, or a fiduciary relationship between the Service Provider, the KOL, and the Copy User.
“Copy Trading System” refers to the system that provides for Copy Trading;
“Copy User” refers to your end users who use the Copy Trading function;
“product” refers to the product and/or software (and its specification) in relation to the SaaS or SaaS+ service and/or product in accordance to the Order Form, if any;
“service” refers to the associated service in relation to the SaaS or SaaS+ product in accordance to the Order Form, if any;
“Technical Service Fee” refers to the Technical Service Fees as agreed and set forth in Order Form;
“VPN” means Virtual Private Network.
2. This STC may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continue access and/or usage of service and/or product after such amendments and/or updates have been posted shall constitute Your agreement and consent to all of the relevant changes.
3. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
Copy Trading
19. The Parties acknowledge and agree that the performance of copy trading is subject to execution risks, market volatility, system parameters, and user-specific account configurations. As such, outcomes between the Key Opinion Leader (“KOL”) and the Copy User may diverge materially. The following scenarios may lead to profits for the KOL and losses for the Copy User, or otherwise cause differences in trading results.
This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the DECENTRALIZED EXCHANGE – SOFTWARE-AS-A-SERVICE (“DEX SaaS”). This STC does not require any signing.
“Annual Fee” refers to the applicable annual fee as agreed and set forth in Order Form;
“Coin Pairing” refers to the functionality enabling the trading of specific cryptocurrency pairs as supported on Web3 Wallet;
“Coin Swap” refers to the functionality enabling direct token-to-token swapping of specific cryptocurrency as supported on Web3 Wallet;
“DEX SaaS” refers to the decentralized exchange software platform provided as a service, including software, APIs, and hosting infrastructure;
“DEX Wallet” refers to the Web3 Wallet service for holding crypto assets;
“product” refers to the product and/or software (and its specification) in relation to the DEX SaaS service and/or product in accordance to the Order Form, if any;
“service” refers to the associated service in relation to the DEX SaaS product in accordance to the Order Form, if any;
“Technical Service Fee” refers to the Technical Service Fees as agreed and set forth in Order Form;
“VPN” means Virtual Private Network.
2. This STC may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continued access and/or usage of service and/or product after such amendments and/or updates have been posted shall constitute Your agreement and consent to all of the relevant changes.
3. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
Product and Payment
4. Any purchase of service and/or product shall be in accordance to the package, version and/or any other service and/or product specification set forth and agreed in the Order Form.
5. Upon receipt of payment from you, CHAINUP shall create a merchant account for you within 5 working days.
6. Unless stated otherwise under your Purchase, if you are a first-time customer of CHAINUP’s DEX SaaS, your Purchase shall consist of one (1) VPN account access for the merchant backend system of the service and/or product. For the avoidance of doubt, existing CHAINUP CEX SaaS customers shall use their existing VPN account and will not be given additional VPN account access.
7. The service start date shall be the date specified in the Project Commencement email issued by ChainUp.
8. Any other additional service fee incurred, if applicable, shall be borne by you.
9. CHAINUP shall automatically deduct Technical Service Fee, in accordance to the agreed Order Form, from Your admin balance account in the exchange backend within twenty one (21) days from the date of applicable transactions. For the avoidance of doubt, the Technical Service Fee shall be allocated as follows: eighty percent (80%) to you and twenty percent (20%) to CHAINUP. You understand and agree that such fees, upon deduction, are non-refundable.
10. The product may offer you the opportunity to purchase additional functions and/or features from within the application (“System Backend Purchase”). CHAINUP shall deduct the price of the System Backend Purchase from your admin balance account within twenty-one (21) days of activation. The said charges will be reflected as a transaction and also in the monthly invoice.
This Specific Terms and Conditions (“Terms”), the General Terms and Condition and the Order Form (collectively the “Purchase”) are collectively deemed as part of the terms and conditions to govern the contractual relationship between you and CHAINUP. It shall be effective between you and CHAINUP from Effective Date upon your signing and execution of the Order Form to purchase the relevant Web3 Wallet service and/or product. This Terms does not require any signing and/or execution.
“Annual Fee” means the annual fee payable by you for various service/product package and version for each tier as set forth in the Order Form;
“Assets” means assets owned by you which are kept, received or deposited in the Web3 Wallet, if any;
“business day” means a day (except Saturday or Sunday, public holidays and unscheduled holidays) on which banks and financial institutions are open for business in Singapore;
“CEXs” means centralized exchanges
“CHAINUP” refers to CHAINUP PTE. LTD. and its affiliates and subsidiaries;
“Contract Term” refers to the Contract Term stated in the Order Form;
“day”, “week”, “month”, “year” refers to that day, week, month, year in accordance with the Gregorian calendar (any “daily”, “weekly”, “monthly”, “yearly”, “annually” shall also be construed accordingly);
“DEXs” means decentralized exchanges;
“Effective Date” refers to the “Effective Date” as defined in the Order Form;
“General Terms and Condition” refers to the General Terms and Condition that can be found at
https://www.chainup.com/service-terms ;
“Order Form” refers to a document known as “Order Form” entered and executed by you and CHAINUP, which consist all material terms and specifications of the service and/or product that you purchased from CHAINUP;
“Party”, “Parties” refers to you and/or CHAINUP, collectively and/or respectively
“Payment Term” refers to the “Payment Terms” agreed by the Parties in the Order Form;
“Private Key” refers to a cryptographic code or string of unique characters that serves as a digital signature to grant exclusive access to digital
assets, tokens and cryptocurrencies stored within a cryptocurrency wallet, enabling the Private Key owner to initiate transactions, transfer funds, and manage assets associated with that specific wallet address on a blockchain network;
“price” refers to the price, fee, payment and/or whatsoever consideration agreed in the Order Form;
“product” refers to the product (and its product specification) in relation to the Web3 Wallet service and/or product in accordance to the Order Form, if any;
“Recovery Phrase” means collectively, the twelve word seed phrase or recovery phrase for accessing cryptocurrency in any Web3 Wallet;
“service” refers to the service (and its service specification) in relation to the Web3 Wallet service and/or product in accordance to the Order Form, if any;
“Web3 Wallet” refers to a service and/or product provided by CHAINUP which is to provide non-custodial Web3 wallet services for storing digital assets, tokens, and cryptocurrencies; the Web3 Wallet may also have additional functionality added from time to time, such as enabling users to access and link to CHAINUP or third-party CEXs, DEXs, and decentralized applications
2. This Terms is to be read and interpreted together with the Order Form.
3. In this Terms, references to “you” or “your” are collectively refers to the signing party to an Order Form with CHAINUP.
4. Words importing singular include plural and vice versa, words importing any gender include every gender, words importing persons include bodies corporate and unincorporate and references to time shall mean Singapore time.
5. References to Clauses and other provisions herein are references to Clauses and other provisions herein and terms defined herein shall have the same meanings where used throughout your Purchase.
6. A reference to a statute or statutory provision is a reference to it as it is in force as at the date of Order Form and/or the last update of this Terms and shall include all subordinate legislation made as at the date of Order Form and/or the last update of this Terms under that statute or statutory provision.
7. A reference to writing or written excludes fax but not email.
8. This Terms may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continued access and/or usage of service and/or product after such amendments and/or updates have been posted shall constitute your agreement and consent to all of the relevant changes.
9. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
Service, Product and Payment
10. Any purchase of service and/or product shall be in accordance to the package, version and/or any other service and/or product specification set forth and agreed in the Order Form. In the event of any inconsistency between the Order Form, this Terms and the General Terms and Condition, the Order Form shall prevail this Terms and this Terms shall prevail the General Terms and Conditions.
11. Upon receipt of payment from you, CHAINUP shall create a merchant account for you in accordance with the Web3 Wallet specification in the Order Form within 5 working days. The service start date shall be the date specified in the Project Commencement email issued by ChainUp.
12. This Terms shall only be applicable for the service and/or product in relation to the Web3 Wallet service and/or product. For avoidance of doubt, in the event you have purchased other services and/or products together with the Web3 Wallet service and/or products, you shall refer to those other Specific Terms and Condition for the relevant other services and/or products
Use of Web3 Wallet by You or Your End-Users
13. You hereby acknowledge and agree that CHAINUP will not be and is not responsible for processing, managing, maintaining, and/or safeguarding any Web3 Wallets, Assets and/or any transactions in relation to the Web3 Wallets and/or Assets.
14. You hereby acknowledge and agree that CHAINUP does not have any ownership, access, custody, and/or control over any Web3 Wallets and/or Assets. You or your end-users’ own and control any Web3 Wallets and Assets held in any Web3 Wallets. The sole owner of any Web3 Wallets and Assets in any Web3 Wallets shall bear all risk of loss of such digital assets. CHAINUP shall have no liability for digital asset fluctuations or loss associated with you or your end-users’ use of the Web3 Wallets.
15. You hereby acknowledge and agree that CHAINUP does not store and is not responsible in any way for processing, storing, managing, securing and/or maintaining any seed phrases and/or private keys for any Web3 Wallets. You or your end-users are solely responsible for the retention and security of any Web3 Wallet credentials and the Recovery Phrase. The Recovery Phrase is the only way to access the cryptocurrency associated with any Web3 Wallet.
16. CHAINUP shall, without prejudice to your Purchase, ensure that (i) no less than the reasonable industry standard security procedures and technology in creating and developing the Web3 Wallet service and/or product, and (ii) the service and/or product shall be rendered in the manner in accordance with your Purchase, or, the reasonable industry standards if such is not stated expressly in your Purchase. Parties agree and acknowledge that, in relation to such creating and developing of the Web3 Wallet service and/or product, CHAINUP may unilaterally make any changes, adjustment, alterations for the purpose of this Clause.
17. CHAINUP shall use no less than the reasonable industry standard endeavours, and due care and skill in relation to the cybersecurity measures taken to maintain the cybersecurity in relation to your Purchase. As you contract directly with your end-users, you shall also be responsible for the cybersecurity measures taken in relation to your operation of the service and/or product. Parties agree and acknowledge that CHAINUP will only liable for any direct losses and damages attributable by CHAINUP’s gross negligence, fraud and/or willful misconduct.
18. If you or your end-users connect the Web3 Wallet to third party decentralized services, CEXs, DEXs, third-party websites, applications or resources, you or your end-users acknowledge sole responsibility for and assume all risk arising from the use of any third party decentralized services, CEXs, DEXs, third-party websites, applications, or resources. Third party decentralized services, such as Dapps and DEXs, may provide access to assets which have high risks of illiquidity, devaluation, lockup, or loss. CHAINUP and its affiliates shall not bear any liability, whatsoever, for any damage caused by any third party decentralized services, CEXs, DEXs, third-party websites, applications or resources. You or your end-users should use extensive care in linking Web3 Wallets with any third party decentralized services, CEXs, DEXs, third-party websites, applications or resources or providing any third-parties access to your Web3 Wallets. When using any third party decentralized services, CEXs, DEXs, third-party websites, applications or resources, you or your end-users understand that at no time are you or your end-users transferring your assets to CHAINUP.
19. You or your end-users are solely responsible for any and all gas fees or transaction costs associated with interacting, processing, executing, and validating transactions on a blockchain network. Such gas fees or transaction costs are not received by CHAINUP and so, CHAINUP cannot reverse or refund such gas fees or transaction costs.
20. Any and all transactions on a blockchain network are irreversible and final, even if such transactions are unintended or unauthorised. CHAINUP will not be and is not responsible for any transactions occurring in any Web3 Wallet, nor is CHAINUP responsible for tracing, reversing, or refunding any such transactions.
This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the BITWIND SYSTEM. This STC does not require any signing.
“Annual Fee” refers to the applicable annual fee as agreed and set forth in Order Form;
“API” means for Application Programming Interface;
“Bitwind System” refers to the name of a software program or system which provides order hedging functionalities between your designated exchanges automatically;
“exchange” refers to the digital currency assets trading platform designated by you to receive, accept and deploy the product and/or service provided by CHAINUP;
“external platform” refers to the trading platform from which coin-to-coin pair market data should be obtained for reference to operate Bitwind System;
“General Terms and Condition” refers to the General Terms and Condition that can be found at
https://www.chainup.com/service-terms ;
“product” refers to the product and/or software (and its specification) provided in the Bitwind System in accordance to the Order Form, if any;
“Secret Key” refers to the only data for account verification after you register account on exchange and applies for API, which requires your careful custody in order to avoid any loss of assets;
“service” refers to the associated service in relation to the Bitwind System in accordance to the Order Form, if any;
2. This STC may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continued access and/or usage of service and/or product after such amendments and/or updates have been posted shall constitute Your agreement and consent to all of the relevant changes.
3. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
Product and Payment
4. Any purchase of service and/or product shall be in accordance to the function, features and/or any other service and/or product specification set forth and agreed in the Order Form. In the event of any inconsistency between the Order Form, this Terms and the General Terms and Condition, the Order Form shall prevail this Terms and this Terms shall prevail the General Terms and Conditions.
5. Upon receipt of payment from you, CHAINUP shall create a merchant account for you within 5 working days.
6. The service start date shall be the date specified in the Project Commencement email issued by ChainUp.
Service
7. CHAINUP’S provision of service is subject to your obligation to provide proper and timely preparation, integration and/or whatsoever arrangement of the necessary facilities and/or external platform. Any failure or delay of the abovementioned obligation shall not incur any liabilities against CHAINUP.
8. Any reference of value or advice provided by CHAINUP to you is not an official data nor a professional advice, you hereby acknowledge that it is solely your commercial decision on any such setting or operation. You shall indemnify CHAINUP for any losses, liabilities or whatsoever responsibilities arising therefrom.
9. Notwithstanding anything to the contrary herein, you shall bear full liability for all errors, omissions and/or configuration by you without obtaining prior advice from CHAINUP. CHAINUP does not bear any liability with regards to any performance by any third-party that is not appointed by CHAINUP.
10. Insofar as this Terms do not refer to any other capacity of you, you are irrevocably deemed to be a professional user acting in the context of your professional activities, and you are deemed to possess the relevant know-how in relation to the product and service.
11. CHAINUP is entitled to charge for any additional specification, configuration or changes to the service and/product. CHAINUP reserves its right to refuse or reject any such additional matter.
Representation and Warranty
12. By signing and executing an Order Form, you hereby represent and warrant that you will not use or operate the service and/or product provided under your Purchase, issue or cause to be issued any instructions, or use or carry out any activities in a manner that could cause CHAINUP violate any applicable laws, regulations, orders or legal requirements, any notices, directives, requirements,
guidelines or conditions issued by any regulatory or supervisory authority, including those pertaining to the prevention of fraud, money-laundering, terrorist financing and the provision of financial or other services to any person or entity which may be subjected to sanctions.
Acknowledgement of Risks
14. By signing and executing an Order Form, you understand, acknowledge and agree that the Bitwind System provided by CHAINUP under your Purchase bring along certain inherent risks and possibility of financial loss in cryptocurrency trading, including but not limited to:
This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the CHAINUP MPC Self-Custody. This STC does not require any signing.
Introduction
1. CHAINUP provides customers with physical and technological infrastructure (i.e., the MPC Wallet software that provides verification in relation to the white-label services, and the API connecting to third party digital payment token liquidity providers in relation to exchange service) (the “Services”) with greater security, ease of use, and scalability.
In addition, CHAINUP provides a full-link activity monitoring system allowing CHAINUP to automatically monitor and record all of the transaction process from start to end and ensure that all transactions are processed in accordance with the specified procedures. By using our Services, you agree to be bound by these terms. If you do not agree, please do not use our services.
Eligibility
2. By using our Services, you confirm that you are at least 18 years old and have the legal capacity to enter into these terms. You also confirm that your use of our services complies with applicable laws and regulations
Services Provided
3. Under this service, CHAINUP will provide the Services to customers, which will divide a single cryptographic key into three private key shards, each key shard holding a private set of data. Users will hold on to one key shard, while CHAINUP will hold on to the remaining two key shards. The holding on the remaining two key shards is solely for verification purposes, CHAINUP will not be involved in any transaction or transferring of DPT from one wallet to another. CHAINUP has no ability to control access to any digital payment tokens and there is no joint execution of transactions involving the digital payment tokens stored in the MPC Wallets software.
4. By default, the MPC wallet uses TRON Energy (“Energy”) and TRON Bandwidth (“Bandwidth”), together known as “Resources”, instead of traditional gas fees when processing transactions. The interaction of smart contracts requires Energy and Bandwidth, while the transfer of TRX currency only requires Bandwidth. If you do not have enough Energy or Bandwidth, TRX may be deducted to cover the cost.
If you prefer not to use the Resources, you have the option to opt out through the wallet settings. Please review your preferences to ensure they align with your intended transaction method.
Product And Payment
5. Any purchase of service and/or product shall be in accordance to the package, version and/or any other service and/or product specification set forth and agreed in the Order Form. In the event of any inconsistency between the Order Form, this Term and the General Terms and Condition, the Order
Form shall prevail this Terms and this Terms shall prevail the General Terms and Conditions.
6. Option of main chains under your Purchase is always subject to CHAINUP’s availability of such main chain. Additional charges may be required for customization and development of additional main chain, if any.
7. Upon receipt of payment from you, you must create a merchant wallet account on our portal the same day to allow us to provision the CHAINUP MPC Self-Custody wallet .
8. ‘Product Subscription Period’ and/or its applicable Minimum Fee shall always commence from the when the service is first provided, unless stated otherwise.
9. Upon signing of the Order Form, you hereby confirm your possession of one key shard. You also acknowledge that any digital assets, tokens, or cryptocurrencies stored in your wallet may become irrecoverable or inaccessible in the event of loss, misplacement, or theft of your key shard. CHAINUP shall bear no responsibility or liability whatsoever in the event of loss, misplacement, or theft of the key shard. You are responsible for obtaining your own insurance to indemnify against any loss of digital assets, tokens, or cryptocurrencies stored in your wallet.
Security Measures
16. The MPC wallets allow for the function for users to provide instructions for the DPT stored in its MPC wallet to be transmitted to another DPT wallet, as long as the user is able to authenticate the transaction using its key shard, this shall be executed between you and your end users.
17. Where appropriate, CHAINUP uses available technology to protect the security of communications made through our CHAINUP website. Do note that CHAINUP do not accept liability for the security, authenticity, integrity or confidentiality of any transactions and other communications made through our CHAINUP website. Internet communications may be susceptible to interference or interception by third parties. CHAINUP will do our best but CHAINUP cannot make any warranties that our CHAINUP website is free of infection by computer viruses or any other unauthorised software.
Custody And Control
18. While CHAINUP provide the Services, you retain ownership and control over them. CHAINUP will not use, lend, or leverage your assets for any purpose other than those specified in these terms or as instructed by you.
Transaction Processing
19. Your end user may instruct you to execute transactions involving digital assets. You shall process these transactions in accordance with your end user’s instructions, provided they comply with your security procedures and legal requirements.
Liability
20. To the maximum extent permitted by applicable law and subject to the exceptions provided below, in no event shall CHAINUP, its affiliates and service providers, or any of their respective officers, directors, agents, employers or representatives, be liable for any lost profits or any special incidental, indirect, intangible, or consequential damages, whether based in contract, tort, negligence, strict liability, or otherwise, arising out of or in connection with authorised or unauthorised use of the Services, or this Purchase, even if CHAINUP has been advised of or knew or should have known the possibility of such damages.
21. To the maximum extent permitted by applicable law and subject to the exceptions provided below, in no event shall the aggregate liability of CHAINUP, its affiliates and service providers, or any of their respective officers, directors, agents, employees or representatives, exceed the fees paid or payable to CHAINUP under this Purchase during the 6 months period immediately preceding the first incident giving rise to such liability.
22. The exclusions and limitations of liability above will not apply to CHAINUP’s fraud, wilful misconduct, or gross negligence. CHAINUP’s liability for gross negligence shall be limited to the value of the affected digital assets or fiat currency.
23. In the event of losses of customers’ digital assets arising from fraud or negligence on the part of CHAINUP, CHAINUP will act in accordance with its compensation framework. Under this framework:
24. Customers are advised to promptly report any losses and associated suspicious activity to CHAINUP’s support team through [email protected]
25. CHAINUP will investigate the matters and endeavour to provide a resolution within 30 days. In any event, CHAINUP will provide the affected customer with an update within this timeline;
26. As part of CHAINUP’s investigations into the matter, CHAINUP may contact the customer and/or any other relevant third parties for further information; and
27. If the result of CHAINUP’s investigations reveal that the claim is valid, CHAINUP will compensate the customer for any direct losses suffered by the customer in connection with CHAINUP’s fraud or negligence. Notwithstanding this, if a customer may potentially be able to make a claim under any form of insurance coverage, the customer shall not be entitled to such compensation by CHAINUP to the extent of the sum insured.
This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the Trustformer KYT & AML. This STC does not require any signing.
“Authorised Users” means Your employees, agents and independent contractors who are authorised by You to use the Services;
“Customer Data” means the data provided by You, Authorised Users, or CHAINUP on your behalf for the purpose of using the Services or facilitating your use of the Services;
“Normal Business Hours” means 10.00 am to 7.00 pm local Singapore time, each Business Day;
“Services” means the subscription services provided by CHAINUP to You under this agreement via https://kyt.trustformer.ai/or any other website notified to you by CHAINUP from time to time;
“SaaS” means Software-as-a-Service;
“User Subscriptions” means the user subscriptions purchased by You which entitle Authorised Users to access and use the Services in accordance with this agreement; and
“Vulnerability” means a weakness in the computational logic (for example, code) found in software and hardware components that when exploited, results in a negative impact to the confidentiality, integrity, or availability, and the term Vulnerabilities shall be interpreted accordingly
2. This STC may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continued access and/or usage of service and/or product after such amendments and/or updates have been posted shall constitute Your agreement and consent to all of the relevant changes.
3. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
User Subscription
4. Subject to you purchasing the Services to permit the Authorised Users to use the Services during the Subscription Term solely for your internal business operations.
5. In relation to the Authorised Users, you undertake that each Authorised User shall keep a secure password for their use of the Services and that each Authorised User shall keep their password confidential.
6. You shall use all reasonable endeavours to prevent any unauthorised access to, or use of, the Services and, in the event of any such unauthorised access or use, promptly notify CHAINUP.
7. The rights provided herein are granted to you only, and shall not be considered granted to any of your subsidiary or holding company.
8. This agreement is effective upon the Effective Date for duration of an Initial Subscription Term and indefinitely after that (“Auto Renewal”) until termination of this agreement. Unless Parties agreed in written otherwise, term of each Auto Renewal shall be an Initial Subscription Term and shall continue one after another without any interval.
Services
9. CHAINUP shall, during the Subscription Term, provide the Services and make available to you on and subject to the terms of this agreement. The Services shall include the scope provided in the Order Form.
10. CHAINUP shall use commercially reasonable endeavours to make the Services available 24 hours a day, seven days a week, except for any maintenance carried out of that may be notified directly to customers either via email or notification by the form of announcement on its website.
11. CHAINUP will, as part of the Services, provide you with standard customer support services during Normal Business Hours.
Third Part Providers
12. You acknowledge that the Services may enable or assist you to access the website content of, correspond with, and purchase products and services from, third parties via third-party websites and that you do so solely at your own risk. CHAINUP makes no representation, warranty or commitment and shall have no liability or obligation whatsoever in relation to the content or use of, or correspondence with, any such thirdparty website, or any transactions completed, and any contract entered into by you, with any such third party. Any contract entered into and any transaction completed via any third-party website is between you and the relevant third party, and not CHAINUP. CHAINUP recommends that you refer to the third party’s website terms and conditions and privacy policy prior to using the relevant third-party website. CHAINUP does not endorse or approve any third-party website nor the content of any of the third-party website made available via the Services.
This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the Managed Services and/or Professional Services. This STC does not require any signing.
“designated platform” refers to your designated application, platform or system which requires CHAINUP’s Managed Services or Professional Services;
“Equipment” refers to the equipment set out in the Order Form
“General Terms and Condition” refers to the General Terms and Condition that can be found at www.CHAINUP.com/service-terms;
“Managed Services” refers to the recurring services to monitor or manage applications, platforms and/or systems and/or any other support services as described in a Statement of Work or Scope of Work or “SOW” attached to the Order Form;
“Professional Services” refers to the consulting, configuration, customization, implementation, project management, staff augmentation, training and/or any other support services as described in a SOW attached to the Order Form.
“product” refers to any associated product and/or software (and its specification) provided in the Managed Services and/or Professional Services in accordance to the Order Form, if any;
“service” refers to the Managed Services and/or Professional Services and/or any associated services in accordance to the Order Form;
“Software” refers to computer software operating on the Equipment in relation to which CHAINUP is to provide the Managed Services.
2. This STC may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continued access and/or usage of service and/or product after such amendments and/or updates have been posted shall constitute Your agreement and consent to all of the relevant changes.
3. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
Services
4. The services offered by CHAINUP under this agreement will be provided on a Time and Material (i.e. Man-Day Rate) basis or Fixed Scope Fixed Price basis or subscription basis as described in an Order Form and/or SOW. These services are delivered remotely as default unless indicated as on-site with additional costs at your location.
5. Should Customer request for onsite services and CHAINUP agrees to provide such onsite services, all additional travel expenses incurred shall be borne by Customer. Customer agrees to reimburse CHAINUP for the reasonable and necessary travel expenses incurred in connection with the performance of the duties and obligations of such requests.
Third Party Providers and Authorizations
6. To ensure prompt assistance when needed, you authorize CHAINUP to work with all of your external vendors that we may require to collaborate with to provide our services. This includes, but is not limited to, your cloud service providers, Web and Domain Hosting Provider, and data repository provider (“Third Party Providers”). During the onboarding process, we will review with you to identify all the vendors you need to authorize. If we are not authorized for a specific vendor, we may, at our discretion, charge you extra for the time it takes to obtain authorization to interact with that vendor on your behalf. If you engage with any new vendors that we need to work with after this agreement begins, you agree to ensure that we are authorized to act on your behalf at the start of your relationship with the new vendor.
7. For the avoidance of doubt, Customer is responsible to engage, subscribe, manage and pay for such Third Party Providers directly for such Third Party Providers’ subscription and/or service required.
8. The Terms & Conditions of the Third Party Providers apply to the Customer directly. CHAINUP does not bear any responsibility or liability with regard to the products and services of such Third Party Providers. The Customer shall guarantee and indemnify CHAINUP for any claims by such Third Party Providers for whatever reason and the Customer shall fully indemnify CHAINUP for all costs, damages, costs and expenses that CHAINUP incurs as a result thereof,
including lawyer fees.
This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the BLOCKCHAIN REMOTE PROCEDURE CALL SERVICE (“RPC”) / (“API”). This STC does not require any signing.
“Annual Fee” refers to the applicable annual fee as agreed and set forth in Order Form;
“Monthly Fee” refers to the applicable monthly fee as agreed and set forth in Order Form;
“Product” refers to the product and/or software (and its specification) in relation to the RPC or API service and/or product in accordance to the Order Form, if any;
“Service” refers to the associated service in relation to the RPC or API product in accordance to the Order Form, if any;
“Technical Service Fee” refers to the Technical Service Fees as agreed and set forth in Order Form;
“VPN” means Virtual Private Network.
2. This STC may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continue access and/or usage of service and/or product after such amendments and/or updates have been posted shall constitute Your agreement and consent to all of the relevant changes.
3. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
Product and Payment
4. Any purchase of service and/or product shall be in accordance to the package, version and/or any other service and/or product specification set forth and agreed in the Order Form
5. Upon receipt of payment from you, CHAINUP shall create an account for you or provide you with the details to register for an account within 5 working days. The start of the service shall be the account creation date.
6. Any other additional service fee such as communication, integration costs, additional redundancy services incurred shall be borne by you.
7. Prepayment shall be made in accordance to the agreed payment milestone in the Order Form, based on your subscribed RPC service(s).
8. For any changes to the subscribed RPC service(s), such as additional, reduction or temporarily stopping, you agree to notify in writing and obtain CHAINUP confirmation of such changes at least
7 working days prior to the said change.
9. For the avoidance of doubt, charges for the RPC Service(s) will be prorated to reflect the actual period of service provided within the month, with the final calculation to be determined by CHAINUP.
This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the Compliance As A Service (“CaaS”). This STC does not require any signing.
“CaaS” refers to the advisory and consulting services, Managed Services and/or any other support services as described in a SOW attached to the Order Form;
“Deliverable” refers to a project output agreed with you in the Order Form (“OF”) signed;
“General Terms and Condition” refers to the General Terms and Condition that can be found at www.CHAINUP.com/service-terms;
“Managed Services” refers to the applicable recurring services to monitor or manage applications, platforms and/or systems and/or any other support services as described in a Statement of Work or Scope of Work or
“SOW” attached to the Order Form;
“Product” refers to any associated product and/or software (and its specification) provided in the CaaS in accordance to the Order Form, if any;
2. This STC may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continued access and/or usage of Service and/or Product after such amendments and/or updates have been posted shall constitute Your agreement and consent to all of the relevant changes.
3. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
Services
4. The services offered by CHAINUP under this agreement will be provided on a Time and Material (i.e. Man-Day Rate or Man-Hour Rate) basis or Fixed Scope Fixed Price basis or subscription basis as described in an Order Form and/or SOW. These services are delivered remotely as default unless indicated as on-site with additional costs at your location.
5. Unless explicitly specified in the Purchase, all fees are exclusive of expenses, which will be billed to you separately. These expenses include direct costs incurred, such as communication, travel, accommodation, subsistence, and document handling (e.g., photocopying, printing, courier services, etc), as well as administrative and technology charges allocated to the engagement.
This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the Compliance As A Service (“CaaS”). This STC does not require any signing.
“Annual Fee” refers to the applicable annual fee as agreed and set forth in Order Form;
“Assets” means digital assets, tokens or cryptocurrencies owned by You which are kept, received or deposited and custodised with CHAINUP, if any;
“General Terms and Condition” refers to the General Terms and Condition that can be found at https://www.CHAINUP.com/service-terms ;
“Product” refers to the product and/or software (and its specification) in relation to the RWA service and/or product in accordance to the Order Form, if any;
“RWA Wallet” refers to the wallet embedded within the RWA Platform that secured the Assets within a shared blockchain address that is custodised with
CHAINUP;
“Technical Service Fee” refers to the technical service fee as agreed and set forth in Order Form;
“Token Issuer(s)” means You, who is a person or entity who create and deploy a smart blockchain contract to launch a digital token;
“Token Investor(s)” means a person or entity who purchase a digital token launched by a Token Issuer;
“Token Offering” means an offer of a digital token for sale to the Token Investors by the Token Issuer
2. This STC may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continue access and/or usage of service and/or product after such amendments and/or updates have been posted shall constitute Your agreement and consent to all of the relevant changes.
3. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
Product and Payment
4. Any purchase of service and/or product shall be in accordance to the package, version and/or any other service and/or product specification set forth and agreed in the Order Form.
5. Upon receipt of payment from You, CHAINUP shall create a merchant account for You within 5 working days.
6. Any other additional service fee such as KYC, SMS gateway charges, email or whatsoever communication incurred shall be borne by You.
7. The service start date shall be the date specified in the Project Commencement email issued by ChainUp.
8. This Terms shall only be applicable for the service and/or product in relation to the RWA service and/or product. For avoidance of doubt, in the event You have purchased other services and/or products together with the RWA service and/or products, You shall refer to those other Specific Terms and Condition for the relevant other services and/or products.
This Specific Terms and Conditions (“STC”), the General Terms and Condition (“Terms”) and the Order Form (collectively the “Purchase”) are deemed as part of the terms and conditions to govern the contractual relationship between You and CHAINUP. It shall be effective between You and CHAINUP from Effective Date upon Your signing and execution of the Order Form to purchase the DIGITAL CARD PLATFORM (“DCP”) . This STC does not require any signing.
“Annual Fee” refers to the applicable annual fee as agreed and set forth in Order Form;
“product” refers to the product and/or software (and its specification) in relation to the DCP service and/or product in accordance to the Order Form, if any;
“service” refers to the associated service in relation to DCP in accordance to the Order Form, if any;
“Technical Service Fee” refers to the Technical Service Fees as agreed and set forth in Order Form;
“VPN” means Virtual Private Network.
2. This STC may be amended and/or updated from time to time and will be posted on CHAINUP’s relevant website. Your continue access and/or usage of service and/or product after such amendments and/or updates have been posted shall constitute Your agreement and consent to all of the relevant changes.
3. Any capitalized terms not defined herein shall have the meanings ascribed to those in the Order Form and/or the General Terms and Conditions.
Product
4. CHAINUP provides technology services, which includes :
(a) development and deployment of front-end mobile applications (“App”);
(b) development and deployment of card management portals and administrative dashboards;
(c) technical integration with licensed card issuers or other financial institutions (“Issuing Partners”);
(d) ongoing maintenance and support of the above integrations.
5. CHAINUP does not provide any financial services, custody of funds, or card scheme membership. All actual card issuance, transaction settlement, and compliance approvals are performed solely by the Issuing Partners.
Product and Payment
6. Any purchase of service and/or product shall be in accordance to the package, version and/or any other service and/or product specification set forth and agreed in the Order Form. For the avoidance of doubt, CHAINUP would charge subscription fee and hosting fee according to the Order Form while the Issuing Partners will charge applicable fee for the issuance of the card.
7. Upon receipt of payment from you, CHAINUP shall create a merchant account for you within 5 working days. The start of the service shall be the merchant account creation date.
8. Unless stated otherwise under your Purchase, your Purchase shall only consist five (5) VPN account access for the merchant backend system of the service and/or product. Additional charge may be required for additional VPN account.
9. The service start date shall be the date specified in the Project Commencement email issued by CHAINUP.
10. Any other additional service fee such as KYC, SMS gateway charges, email or whatsoever communication incurred shall be borne by you.
11. CHAINUP shall automatically deduct Technical Service Fee where applicable, in accordance to the agreed Order Form, from Your admin balance account in the exchange backend within twenty-one (21) days from the date of applicable transactions. You understand and agree that such fees, upon deduction, are non-refundable.
Service
12. CHAINUP’S provision of service is subject to your obligation to provide proper and timely preparation, integration and/or whatsoever arrangement of the necessary resources, facilities and/or external platform. As provision of service is after the creation of merchant account, hence, any failure or delay of the abovementioned obligation shall not incur any liabilities against CHAINUP.
13. During the provision of service:
13.1 you shall conduct your own inspection of the product in accordance to the specification agreed under your Purchase;
13.2 In the event that there is any defects, inaccuracy or whatsoever issues of specification or functions of the product found in your Purchase (in accordance to the specification agreed under your Purchase), submit the same to CHAINUP in writing the details within the first thirty (30) days from the date of merchant account creation (“Provision Period”); and
13.3 CHAINUP will assist you in configuring and/or integrating the product within the agreed scope of the specifications of your purchase, provided that you have allow all and every reasonable and necessary access for CHAINUP to do so;
13.4 Such provision of service shall be deemed as completed upon (i) expiry of Provision Period without any defects, inaccuracy or whatsoever issues raised, submitted and/or notify by you; or (ii) if there is any defects, inaccuracy or whatsoever issues raised, submitted and/or notify by you within the Provision Period, such defects, inaccuracy or whatsoever issues has been solved, settled or taken care by CHAINUP; or (iii) you start using the Product during the Provision Period or in a live environment, whichever is earlier.
14. Upon completion of such Provision Period as stipulated above, the product shall be deemed accepted by you in a satisfactory state and condition as at the start of the service (“Deemed Acceptance”).
15. All and any defects and non-conformities of the service and/or product not submitted, raised or notify in writing within such Provision Period shall be deemed as a waiver of rights by you. CHAINUP is therefore entitled to charge additional fee against you for any request to fix, make good or configure such defects and/or non-conformities submitted after Deemed Acceptance.
16. Notwithstanding anything to the contrary herein, you shall bear full liability for all errors, omissions and/or configuration by you without obtaining prior advice from CHAINUP. CHAINUP does not bear any liability with regard to any performance by any third-party that is not appointed by CHAINUP.
17. Insofar as this Terms do not refer to any other capacity of you, you are irrevocably deemed to be a professional user acting in the context of your professional activities, and you are deemed to possess the relevant know-how in relation to the product and service.
18. CHAINUP is entitled to charge for any additional specification, configuration or changes to the service and/product. CHAINUP reserves its right to refuse or reject any such additional matter.
Issuing Partners And Dependencies
19. The Services rely on third-party Issuing Partners and card scheme networks (e.g., Visa, Mastercard, UnionPay).
20. You acknowledge and agree that:
(a) CHAINUP has no control over the operations, decisions, or performance of Issuing Partners, card schemes, or regulators;
(b) Card issuance, suspension, revocation, settlement, or related financial services are solely provided by Issuing Partners under their own licenses; and
(c) CHAINUP does not assume responsibility for any approval, rejection, or compliance assessment performed by Issuing Partners or regulators.
21. Any interruption, delay, rejection, or failure caused by Issuing Partners, card schemes, regulators, or correspondent banks shall not give rise to liability on the part of CHAINUP.
22. You shall comply at all times with all applicable rules, regulations, guidelines, and requirements of any card payment network or card scheme (including but not limited to Visa, Mastercard, UnionPay, or any equivalent) and any Issuing Partner engaged in connection with the Service (“Card Scheme Rules”).
23. You hereby acknowledge and agree that the card payment networks, card schemes, and/or Issuing Partners may, from time to time, amend, supplement, or update their respective Card Scheme Rules, operational requirements, or compliance obligations, with or without prior written notice.
24. You further agree that any such amendments or updates shall be binding upon you immediately upon implementation, and that you shall ensure continued compliance with all applicable Card Scheme Rules as so amended.
25. CHAINUP shall not be responsible or liable for any loss, damage, delay, penalty, or other consequence arising out of or in connection with any such amendment, update, or enforcement of the Card Scheme Rules by any card network, card scheme, or Issuing Partner.
3rd Party Providers Subscriptions and/or Services
26. You are responsible to choose, register and maintain the subscription and/or services and configuration of 3rd party providers to integrate with CHAINUP product. In the event, you engaged CHAINUP to provide support with configuration on the 3rd party providers, paid or otherwise, you agree to indemnify CHAINUP from all liabilities associated to any costs and actions brought against CHAINUP.
27. The following is a non-exhaustive list of 3rd party providers specific requirements:
27.1 Apple AppStore Listing: You are responsible to register an apple developer account prior to iOS App submission and obtain necessary licenses and permits required under applicable laws to own and operate the product to meet applicable Apple’s developer general and country-specific policies. Failure to conform to Apple’s developer policies may result in barring of your iOS App listing onto AppStore, including but not limited to suspension / termination of your apple developer account.
27.2 Google PlayStore Listing: You are responsible to register a Google developer account prior to Android App submission and obtain necessary licenses and permits required under applicable laws to own and operate the product to meet applicable Google’s developer program policies. Failure to conform to Google’s developer program policies may result in barring of your Android App listing onto PlayStore, including but not limited to suspension / termination of your Google developer account.
27.3 Huawei AppGallery: You are responsible to register a Huawei ID prior to Android App submission and obtain necessary licenses and permits required under applicable laws to own and operate the product to meet applicable Huawei developer policies. Failure to conform to Huawei’s developer program policies may result in barring of your Android App listing onto AppGallery, including but not limited to suspension / termination of your Huawei ID account.
27.4 Xiaomi GetApps: You are responsible to register a Xiaomi Account prior to Android App submission and obtain necessary licenses and permits required under applicable laws to own and operate the product to meet applicable Xiaomi Mi App Mall developer and distribution agreements. Failure to conform to Xiaomi’s policies may result in barring of your Android App
listing onto GetApps, including but not limited to suspension / termination of your Xiaomi Account.
27.5 Samsung Galaxy Store: You are responsible to register a Samsung Commercial Seller Account prior to Android App submission and obtain necessary licenses and permits required under applicable laws to own and operate the product to meet applicable Samsung App developer and distribution agreements. Failure to conform to Samsung’s policies may result in barring of your Android App listing onto Galaxy Store, including but not limited to suspension / termination of your Samsung Account.
27.6 CMC Market Listing: Where applicable, paid or otherwise, CHAINUP support to you is limited to the capacity as a product provider in furnishing details to aid in your CMC Marketing Listing application progress. You are responsible to apply and pay any applicable fees to CMC for market listing applications. Site optimization services paid to CHAINUP is non-refundable,
non-transferrable. You understand that application status outcome is subjected to CMC review and decision, and CHAINUP is not able to affect the decision made by CMC.
28. CHAINUP shall have no liability or whatsoever responsibility and provide no guarantee in respect of the outcome and/or result of including but not limited to the listing at any of the platforms, CMC Market Listing or onramp/offramp revision on support for fiat currencies. Any outcome and/or result of the same is subject to the policy of the applicable platform which CHAINUP has no control over. CHAINUP’s obligation herein shall be deemed completed upon the required configuration as requested by You as stipulated in the Order Form.
Representation and Warranty
29. By signing and executing an Order Form, you represent and warrant that:
29.1 you have the rights to receive any Assets deposited by end-user through the service and/or product; and
29.2 you will not use or operate the service and/or product provided under your Purchase, issue or cause to be issued any instructions, or use or carry out any activities in a manner that could cause CHAINUP violate any applicable laws, regulations, orders or legal requirements, any notices, directives, requirements, guidelines or conditions issued by any regulatory or supervisory authority, including those pertaining to the prevention of fraud, money-laundering, terrorist financing and the provision of financial or other services to any person or entity which may be subjected to sanctions.
Card Transaction and Compliance Disclaimer
30. As the Services involve card-transaction functionalities, the Parties acknowledge and agree
that:
30.1 Platform Uptime and Reliability. The uptime and reliability of the Platform shall be provided by CHAINUP on a commercially reasonable efforts basis. CHAINUP does not guarantee uninterrupted or error-free operation of the platform and shall not be liable for any downtime, delay, interruption, or malfunction of the platform, whether arising from maintenance, third party service providers, network failures, or any event beyond CHAINUP’s reasonable control.
30.2 Card Transaction Capability. CHAINUP makes no representation, warranty, or assurance that any issued card (whether digital or physical) will be capable of transacting or being accepted in any specific jurisdiction, country, or by any merchant or payment network. You acknowledge that certain jurisdictions may restrict, prohibit, or otherwise bar the use of such cards, and CHAINUP shall bear no responsibility or liability for any failure, rejection, or prohibition of transactions in any country.
30.3 Your Responsibility and Compliance. You shall be solely responsible for ensuring ongoing compliance with all applicable laws, regulations, licensing, and approval requirements in all jurisdictions in which it operates, markets, or provides services to users.
30.4 You further acknowledge that CHAINUP shall not be liable for any losses, claims, penalties, or regulatory actions arising out of or in connection with your failure to comply with such obligations or the inoperability of cards in certain jurisdictions.
30.5 You acknowledge and agree that CHAINUP acts solely as a technology and service provider, and does not control, verify, or guarantee the legitimacy, completion, or reversal of any transaction processed through the service.
30.6 You further acknowledge and agree that CHAINUP shall not be responsible or liable for handling, investigating, or resolving any disputed transactions, chargebacks, reversals, or refund requests initiated by any end-user, cardholder, Issuing Partner, or card scheme.
30.7 All disputed transactions, chargebacks, reversals, or refund request shall be solely managed and resolved by You directly with the relevant end-user, Issuing Partner, or card scheme in accordance with the applicable Card Scheme Rules.
30.8 CHAINUP shall not be liable for any losses, chargebacks, reversals, or penalties imposed by any Issuing Partner, card scheme, or regulator arising out of or in connection with any disputed transaction, chargeback or refund process.
30.9 For avoidance of doubt, disputed transaction shall mean any transaction (whether authorised or unauthorised) that is subsequently disputed by a cardholder, Issuing Partner, card scheme or any third party for any reason, including but not limited to fraud, unauthorised use, duplicate billing, technical error, or non-delivery of goods or services.
30.10 All chargebacks, reversals, or adjustments imposed by any Issuing Partner or card scheme shall be borne solely by You, including any associated fees, fines, penalties, or interest.
30.11 Chargebacks are final and binding as determined by the Issuing Partner or card scheme, and CHAINUP shall not be responsible for the outcome of any dispute resolution process conducted by such third parties.
Lien and Set-Off
30. The following Terms and Conditions under the heading of “Lien and Set-Off” shall only applicable for DCP.
32. Lien
32.1 CHAINUP has the right of general lien over your Assets that is held by CHAINUP (if any) in its provision of the service and/or product to you until the satisfaction of your obligations and liabilities arising under your Purchase to CHAINUP in respect to any fees and expenses or otherwise incurred in the performance of services and/or provision of product; and
32.2 CHAINUP may, without prior notice to you, enforce or exercise such right of general lien over the Assets in accordance with applicable laws and legal requirements.
33. Set-Off
33.1 CHAINUP has the right, without prior notice to you, to set off any payment obligation owed by you to CHAINUP in relation to liabilities arising under your Purchase against any payment obligation owed by you to CHAINUP, whether or not matured or contingent and regardless of the place of payment or currency of either obligation (and for such purpose the CHAINUP
may make any currency conversion necessary at the CHAINUP’s prevailing rate).
34. CHAINUP’s rights under this section are in addition to any general lien, set-off or other rights to which CHAINUP may be entitled under any applicable law or legal requirement or otherwise.
Consequences Of Termination
35. In the event of termination of your Purchase, it is your responsibility to settle and/or finalise all and any outstanding accounts of your end-user in the service and/or product, including but not limited to:
35.1 announce and/or to inform your end-user of such termination of service and/or product;
35.2 make arrangement or alternatives for your end-user to withdraw assets or transfer assets from the service and/or product before such termination date or before such service and/or product cease to operate (whichever is earlier);
35.3 in the event you require additional management service from CHAINUP, you shall confirm such additional service with CHAINUP subject to additional payment paid by you to CHAINUP; and/or
35.4 any other actions that you shall carry out and/or comply to make sure interest of your end user is protected.
36. CHAINUP shall not be liable for any failure, delay or non-compliance incurred by you to your end-users during such termination.
37. You acknowledge and warrant that you have the right or have obtained your user’s authorization to transfer the user assets stored on CHAINUP’s servers to your server provider or designated wallet address. Accordingly, you agree that CHAINUP shall not be liable for any or all subsequent liabilities related to end users’ assets. Further, CHAINUP shall not be liable in the event there are any in
incorrect transfers of the end users’ assets initiated by you.
38. CHAINUP shall complete the transfer of any balance assets (yours or users) within 14 working days from the effective date of termination of the Purchase to your system back end (“Administrator Account”).
39. Once the user assets have been successfully transferred to the Administrator Account, CHAINUP shall inform you accordingly. You shall withdraw such user assets from the Administrator Account within three (3) working days. Accordingly, once the prescribed period of time has been surpassed, CHAINUP shall be deemed to have completed the delivery of all user assets. CHAINUP shall not
be liable for any or all subsequent liabilities related to the users’ assets. Further, CHAINUP shall not be liable in the event there are any in incorrect transfers of the users’ assets initiated by you. You shall be solely and exclusively responsible for any or all subsequent liabilities related to its end users’ assets.
40. In the event you fail to withdraw such user assets within 3 working days, You agree and
acknowledge that CHAINUP shall charge you 0.02% of the assets each day (“Management Period”)
as a management fee thereafter until the transfer of user assets is completed.
Mr. Ooi is the former Chairman of the Board of Directors of OCBC Bank, Singapore. He served as a Special Advisor in Bank Negara Malaysia and, prior to that, was the Deputy Governor and a Member of the Board of Directors.