These Terms were last updated on 03 February 2015
Welcome to Voomar, the bitcoin investment company that enables you to invest safely and securely in bitcoin - the future of money. These Terms of Service are intended to explain our obligations as a service provider and Your obligations as a customer. Please read them carefully.
These Terms are binding on any use of the Service and apply to You from the time that Voomar provides You with access to the Service.
Voomar reserves the right to change these terms at any time, effective upon the posting of modified terms and Voomar will make every effort to communicate these changes to You via email or notification via the Website. It is likely the terms of service will change over time. It is Your obligation to ensure that You have read, understood and agree to the most recent terms available on the Website.
By registering to use the Service you acknowledge that You have read and understood these Terms and have the authority to act on behalf of any person for whom You are using the Service. You are deemed to have agreed to these Terms on behalf of any entity for whom you use the Service.
To be eligible to use Voomar’s services, you must be at least 18 years old (or the applicable age of majority and contractual capacity if you reside in a jurisdiction where the age of majority or contractual capacity is above 18 years of age). By accessing or using Voomar’s service you represent and warrant that you are of the legal age according to your jurisdiction to use the service.
1. Voomar service
Your Voomar account ("Voomar account") encompasses the following Voomar services:
Investment into the Voomar Bitcoin Fund;
One or more hosted bitcoin accounts that allows investors to securely store, track, and manage their bitcoin and account information (the "Voomar account");
2. Voomar account
2.1. Fees. Your account is subject to three fee types charged by Voomar which consists of:
(a) an entry fee of 2.4% on entry to the Voomar Bitcoin Fund;
(b) storage and safekeeping fee of 2% per annum, which is charged quarterly on the last day of each calendar quarter, and;
(c) an exit fee of 2.4% on exit of the Voomar Bitcoin Fund.
2.2. Taxes. It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions associated with your receipt or transfer of bitcoin, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities.
2.3. Bitcoin Storage & Transmission Delays. Voomar securely stores 100% of all bitcoin associated with your Voomar account in a combination of online and offline storage. As a result, it may be necessary for Voomar to retrieve this information from offline storage in order to facilitate a bitcoin transaction in accordance with your instructions, which may delay the initiation or crediting of such bitcoin transaction for 48 hours or more. As a user of Voomar’s service, you accept the risk that a bitcoin transaction facilitated by Voomar may be delayed and you agree not to hold Voomar responsible for any damages or injury arising out of or related to such delay.
2.4. Refuse to process. Voomar reserves the right to refuse to process, or to cancel or reverse, any bitcoin transaction in its sole discretion, including, but not limited to if Voomar suspects the transaction is high risk, in response to a subpoena, court order, or other government order, or if Voomar suspects the transaction relates to Restricted Activity as defined in Section 5.
3. Use of the Voomar site
3.1. Limited License. We grant you a limited, non-exclusive, non-transferable license, subject to the terms of this Agreement, to access and use the Voomar site, and the content, materials, information and functionality available in connection therewith (collectively, the "Content") solely for informational, transactional, or other approved purposes as permitted by Voomar from time to time. Any other use of the Voomar site or Content is expressly prohibited. All other rights in the Voomar site or Content are reserved by us. We reserve all rights in the Voomar site and Content and you agree that this Agreement does not grant you any rights in or licenses to the Voomar site or the Content, except for this express, limited license. You will not otherwise copy, transmit, distribute, sell, resell, license, de-compile, reverse engineer, disassemble, modify, publish, participate in the transfer or sale of, create derivative works from, perform, display, incorporate into another website, or in any other way exploit any of the Content or any other part of the Voomar site or any derivative works thereof, in whole or in part for commercial or non-commercial purposes. Without limiting the foregoing, you will not frame or display the Voomar site or Content (or any portion thereof) as part of any other web site or any other work of authorship without our prior written permission. If you violate any portion of this Agreement, your permission to access and use the Voomar service may be terminated pursuant to this Agreement. In addition, we reserve the right to all remedies available at law and in equity for any such violation. "Voomar.com", "Voomar", and all logos related to the Voomar service or displayed on the Voomar site are either trademarks or registered marks of Voomar or its licensors. You may not copy, imitate or use them without Voomar's prior written consent.
3.2. Website Accuracy. Although we intend to provide accurate and timely information on the Voomar site, the Voomar site (including, without limitation, the Content) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the Voomar site are your sole responsibility and we shall have no liability for such decisions.
3.3. Computer Viruses. We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Voomar. Always log into your Voomar account through the Voomar site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
4. Our Relationship with You
4.1. Relationship of the Parties. Voomar is an independent contractor for all purposes. Nothing in this Agreement shall be deemed or is intended to be deemed, nor shall it cause, you and Voomar to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or Voomar to be treated as the agent of the other.
4.2. Service Providers. From time to time, Voomar may engage third parties to assist Voomar in providing certain aspects of the Voomar service (each, a "Service Provider"). Service Providers may include, but are not limited to, Voomar's banking partners and technology or engineering service providers.
4.4. Password Security and Keeping Your Contact Information Current. You are responsible for maintaining adequate security and control of any and all IDs and passwords that you use to access Voomar’s service. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your Voomar account by third-parties and the loss or theft of any bitcoin and/or funds held in your Voomar account and any associated accounts. You are responsible for keeping your email address and telephone number up to date in your account Profile in order to receive any notices or alerts that we may send you. We assume no responsibility for any loss that you may sustain due to compromise of your sensitive information or failure to follow or act on any notices or alerts that we may send to you. In the event you believe your Voomar account information has been compromised, contact Voomar support immediately.
4.5. Consent to Electronic Records. By using Voomar’s service, you agree that Voomar may provide you with any notices or other communications about your Voomar service electronically: (a) via email (in each case to the address that you provide), SMS message, or telephone call (in each case to the phone number that you provide), or (b) by posting to the Voomar site. For notices made by email, the date of receipt will be deemed the date on which such notice is transmitted. If you do not wish to receive notices or other communications electronically, we will be unable to support your Voomar account and your Voomar account will be cancelled.
4.6. Notices to Voomar. We prefer receiving notices to Voomar electronically through firstname.lastname@example.org. Physical notifications can also be sent to us at address: Souvenir, Royal Road, Moka, Mauritius.
5. Restricted Activities
5.1. Fiduciary accounts/Custodial Assets. You hereby certify to us that any funds used by you in connection with Voomar’s service are either owned by you or that you are validly authorized to carry out transactions using such funds. In particular, you acknowledge that Voomar may not be a qualified custodian under applicable law, and represent that your use of Voomar’s service is in compliance with any applicable requirements governing the maintenance and use of fiduciary accounts and custodial assets.
5.2. Restricted Activities. In connection with your use of Voomars’ service, and your interactions with other users, and third parties you will not:
- Violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to be a member (for example, those laws, rules, or regulations governing financial services, controlled substances, unlawful gambling or consumer protections);
- Partake in a transaction which involves the proceeds of any unlawful activity
- Defraud or attempt to defraud Voomar or other Voomar users;
- Infringe upon Voomar's copyright, patent, trademark, or intellectual property rights;
- Provide false, inaccurate or misleading information;
- Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
- Interfere with another individual's or entity's access to or use of any of the Voomar service;
- Defame, abuse, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others;
- Publish, distribute or disseminate any unlawful material or information;
- Transmit or upload any material to the Voomar site that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs;
- Harvest or otherwise collect information from the Voomar site about others, including without limitation email addresses, without proper consent;
- Act as a payment intermediary or aggregator or otherwise resell any of Voomar’s service, unless expressly authorized by Voomar in writing;
- Transfer any rights granted to you under this Agreement;
- Use the Voomar account information of another party to access or use the Voomar site;
- Otherwise attempt to gain unauthorized access to the Voomar site, other Voomar accounts, computer systems or networks connected to the Voomar site, through password mining or any other means.
6. Risks of services
6.1. The risk of loss in holding bitcoin can be substantial. You should therefore carefully consider whether trading or holding bitcoin is suitable for you in light of your financial condition. In considering whether to trade or hold bitcoin, you should be aware that the price or value of bitcoin can change rapidly, decrease, and potentially even fall to zero, and;
6.2. You agree that any disputes between you and Voomar will be resolved by binding, individual arbitration and you waive your right to participate in a class action lawsuit or class-wide arbitration.
7. Disputes with Voomar
7.1. Disputes with Voomar. If you think we have made an error, contact us at email@example.com or write to us at Souvenir, Royal Road, Moka, Mauritius. In your correspondence, you must give us information sufficient to identify you, your Voomar account, and the transaction on which you believe an error occurred. You must contact us within 30 days after the transaction occurred. We will use our best efforts to either correct the error or explain to you why we believe the transaction was correct within 30 days of receiving your request.
7.2. Time Limitation on Claims. You agree that any claim you may have arising out of or related to your relationship with Voomar must be filed within one six months after such claim arose; otherwise, your claim is permanently barred.
8. General Provisions
8.1. Limitations of Liability. In no event shall Voomar, it’s affiliates or service providers, or any of their respective officers, directors, agents, employees or representatives, be liable for any lost profits or any special, incidental or consequential damages arising out of or in connection with the Voomar site, Voomar’s service, or this Agreement (however arising, including negligence). The liability of Voomar, it’s affiliates or service providers, or any of their respective officers, directors, agents, employees or representatives, to you or any third parties is limited to the fees paid to Voomar by you in the preceding 6 (six) months.
8.2. No Warranty. Voomar’s service is provided "as is" and "as available" basis without any representation or warranty, whether express or implied.
8.3. Indemnification. You agree to indemnify and hold Voomar, its affiliates and Service Providers, and each of their respective officers, directors, agents, joint venturers, employees and representatives, harmless from any claim or demand (including attorneys' fees and any fines, fees or penalties imposed by any regulatory authority) arising out of or related to (i) your breach of this Agreement, (ii) your use of Voomar’s service, or (iii) your violation of any law, rule or regulation, or the rights of any third party.
8.4. Entire Agreement. This Agreement sets forth the entire understanding and agreement between you and Voomar as to the subject matter hereof, and supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between and among you and Voomar.
8.5. Assignment. This Agreement, and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by Voomar without restriction, including without limitation to any of its affiliates or subsidiaries, or to any successor in interest of any business associated with the Voomar service. Any attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.
8.6. Severability. If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law or regulation or any governmental agency, local, state, or federal, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of this Agreement shall not be affected.
8.7. Change of Control. In the event that Voomar is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.
8.8. Survival. All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement.
8.9. Governing Law. This Agreement will be governed by the country of Mauritius.
8.10. Force Majeure. We shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.
8.11. English Language Controls. Any translation of this Agreement is provided for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.