AnchorCoin LLC Terms of Use

By utilizing the AnchorCoin LLC website and/or our services, you agree to these Terms of Use and our Privacy Policy (collectively, the “Terms”).

These terms are entered into between you and AnchorCoin LLC (“Company,” “AnchorCoin”, “we”, “our”, “us”), concerning your utilization of our website and its corresponding software platform (the “Platform”).

Eligibility

Only adults aged eighteen (18) years of age and older may use the Platform. You may not use the Platform in any way if you are below eighteen (18) years of age.

AnchorUSD Services

The Platform facilitates the purchase and redemption of AnchorUSD. Using the Platform, AnchorUSD can be purchased for US dollars, or redeemed for US dollars. AnchorUSDs themselves are not a monetary instrument, a legal tender, a money, a currency, or a repository of stored value.

When you purchase AnchorUSD using our Platform, we provide you with instructions on how to transfer your US dollars to one of the escrow accounts managed by our network. Upon our escrow agent confirming receipt of your funds, you will be issued AnchorUSD at a rate of 1 AnchorUSD to 1 US dollar, subject to our fees.

When you redeem AnchorUSD using our platform, we provide you with instructions on how to transfer our AnchorUSD to a specialized redemption address. Upon confirmation that AnchorUSDs were successfully received at this redemption address, we will instruct an escrow agent in our network to transfer US dollars to the bank account of your specification, at a rate of 1 US dollar per AnchorUSD, subject to our fees.

The Company reserves the right to refuse to issue or redeem AnchorUSD when such an issuance or redemption would constitute a violation of an applicable law, ordinance, statute, or regulation, or when the Company reasonably believes that such an issuance or redemption would constitute such a violation. Furthermore, the company reserves the right to refuse the issuance or redemption of AnchorUSD due to a subpoena or request from any government official, government entity, or law enforcement authority of competent jurisdiction.

Anti-Money Laundering and Counter-Terrorist Financing

The Company reserves the right to refuse to issue, redeem, or allow transfer of AnchorUSD to individuals or entities who do not meet the international AML-CTF standards specified by the FATF, to Politically Exposed Persons as defined by the FATF’s 40 Recommendations, and to individuals or entities found present on a sanctions list or watchlist in a competent jurisdiction.

If properly compelled by a law enforcement or a court of competent distinction, the Company reserves the right to prevent specific cryptocurrency wallet addresses from utilizing the Platform, receiving AnchorUSD tokens, or transferring AnchorUSD tokens. The Company will cooperate with applicable law enforcement and regulatory authorities where it is required to do so and will share information if there are grounds to believe that AnchorUSD is being used for illegal purposes.

The Company reserves the right to prohibit specific cryptocurrency exchanges from accessing the Platform, receiving AnchorUSD tokens, or transferring AnchorUSD tokens if the exchange has not been preapproved by the Company or the Company is properly directed to do so by law enforcement or a court of competent jurisdiction. We reserve the right to restrict or prohibit the listing or trading of AnchorUSD on any exchange in our sole and absolute discretion. Any exchange that lists AnchorUSD represents and warrants to the Company that by doing so it is duly organized, registered, licensed, and shall comply with all applicable laws and rules in every jurisdiction in which it operates. Furthermore, any exchange listing AnchorUSD represents and warrants to the Company that by doing so it has Anti-Money Laundering ("AML") and Counter Terrorist Financing controls meeting the requirements in every jurisdiction in which it operates. The Company will make reasonable efforts to notify and inform exchanges in advance of any such restriction or prohibition, unless the Company is prohibited from doing so by law or under an order from a court of competent jurisdiction or authority.

Accessing the Platform

In order to cause AnchorUSD to be issued or redeemed by the Company, you must be a verified customer of the Company. You must create an account on the Platform and pass any bank verifications and KYC/ AML validation requirements that we or our fiduciary partners require. It is a condition of your use of the Platform that information you enter into the Platform is correct, current, and complete. All information you enter into the Platform is governed by our Privacy Policy.

We reserve the right to deny access to the Platform to anyone or cancel an account for any reason, including but not limited to violations of our Terms of Use, applicable laws and/or regulations, or engaging in any Prohibited Uses, and at any time, at our sole discretion.

Account Security

You are responsible for maintaining the confidentiality of your Account login information and are fully responsible for all activities that occur under your Account. You agree to immediately notify the Company of any unauthorized use, or suspected unauthorized use of your Account or any other breach of security. The Company cannot and will not be liable for any loss or damage arising from your failure to comply with the above requirements.

We reserve the right to disable any account at any time in our sole discretion if, in our opinion, you have violated any provision of these Terms of Use.

Fees

Fees will apply to all transactions on the platform, and described and updated in the fee schedule from time to time. The fee schedule as it stands today is located here.

Taxes

You are solely liable for all the taxes, fees, and commissions resulting from use of the Platform. These Terms of Use alone do not create a joint venture, partnership, or principal-agent relationship between you and the Company, or any other users, and nothing in these Terms of Use may be used to imply such a relationship. You agree to indemnify, defend, and hold the Company harmless from any liability for, or assessment of, any claims or penalties with respect to such taxes, labor, or employment requirements, including any liability for, or assessment of taxes imposed on the Company by the relevant taxing authorities with respect to any fees paid to you as the result of using the Platform.

Prohibited Uses

You may use the Platform only for lawful purposes and in accordance with these Terms of Use. You agree not to use the Platform:

Reliance on Information Posted

We do not warrant the accuracy, completeness, or usefulness of any information on the Platform. Any reliance you place on such information is strictly at your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the Platform, or by anyone who may be informed of any of its contents.

The Platform includes content provided by third parties, including materials provided by other users, attorneys, third-party licensors, syndicators, aggregators, and/or reporting services. All statements and/or opinions expressed in these materials, other than the content provided by the Company, are solely the opinions and the responsibility of the person or entity providing those materials. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.

Third-Party Links

The Site may contain links to third-party websites and services (collectively, “Third-Party Links”). Such Third-Party Links are not under the control of Company, and Company is not responsible for any Third-Party Links. Company provides access to these Third-Party Links & Ads only as a convenience to you, and does not review, approve, monitor, endorse, warrant, or make any representations with respect to Third-Party Links. You use all Third-Party Links at your own risk, and should apply a suitable level of caution and discretion in doing so. When you click on any of the Third-Party Links, the applicable third party’s terms and policies apply, including the third party’s privacy and data gathering practices. You should make whatever investigation you feel necessary or appropriate before proceeding with any transaction in connection with such Third-Party Links.

Users Outside the U.S.

The Platform is controlled and operated from the United States and is subject to its laws. If you choose to access the Platform outside of the United States, you do so at your own risk and are responsible for complying with all applicable laws, rules, and regulations.

No Class Action

Neither you nor we shall pursue any claims arising under this Agreement on a class or other representative basis and will not seek to coordinate or consolidate any arbitration hereunder with any other proceeding.

Disclaimers

THE PLATFORM IS PROVIDED ON AN “AS-IS” AND “AS AVAILABLE” BASIS, AND COMPANY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING ALL WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, ACCURACY, OR NON-INFRINGEMENT. WE MAKE NO WARRANTY THAT THE PLATFORM WILL MEET YOUR REQUIREMENTS, WILL BE AVAILABLE ON AN UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE BASIS, OR WILL BE ACCURATE, RELIABLE, FREE OF VIRUSES OR OTHER HARMFUL CODE, COMPLETE, LEGAL, OR SAFE. IF APPLICABLE LAW REQUIRES ANY WARRANTIES WITH RESPECT TO THE PLATFORM, ALL SUCH WARRANTIES ARE LIMITED IN DURATION TO NINETY (90) DAYS FROM THE DATE OF FIRST USE.

SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU. SOME JURISDICTIONS DO NOT ALLOW LIMITATIONS ON HOW LONG AN IMPLIED WARRANTY LASTS, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.

Limitation on Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL THE COMPANY BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY LOST PROFITS, LOST DATA, COSTS OF PROCUREMENT OF SUBSTITUTE PRODUCTS, OR ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES ARISING FROM OR RELATING TO THESE TERMS OR YOUR USE OF, OR INABILITY TO USE, THE PLATFORM, EVEN IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. ACCESS TO, AND USE OF, THE PLATFORM IS AT YOUR OWN DISCRETION AND RISK, AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR DEVICE OR COMPUTER SYSTEM, OR LOSS OF DATA RESULTING THEREFROM. TO THE MAXIMUM EXTENT PERMITTED BY LAW, NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, OUR LIABILITY TO YOU FOR ANY DAMAGES ARISING FROM OR RELATED TO THIS AGREEMENT (FOR ANY CAUSE WHATSOEVER AND REGARDLESS OF THE FORM OF THE ACTION), WILL AT ALL TIMES BE LIMITED TO A MAXIMUM OF FIFTY US DOLLARS (U.S. $50). THE EXISTENCE OF MORE THAN ONE CLAIM WILL NOT ENLARGE THIS LIMIT. YOU AGREE THAT OUR SUPPLIERS WILL HAVE NO LIABILITY OF ANY KIND ARISING FROM OR RELATING TO THIS AGREEMENT. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU.

Indemnification

You agree to indemnify and hold the Company (and its officers, employees, and agents) harmless, including costs and attorneys’ fees, from any claim or demand made by any third party due to or arising out of (a) your use of the Platform, (b) your purchase or redemption of any AnchorUSD, (c) your violation of these Terms or (d) your violation of applicable laws or regulations. The Company reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, and you agree to cooperate with our defense of these claims. You agree not to settle any matter without the prior written consent of the Company. The Company will use reasonable efforts to notify you of any such claim, action or proceeding upon becoming aware of it.

Certain Restrictions.

The rights granted to you in these Terms are subject to the following restrictions: (a) you shall not license, sell, rent, lease, transfer, assign, distribute, host, or otherwise commercially exploit any of the material on the Platform, whether in whole or in part, or any content displayed on the Platform; (b) you shall not modify, make derivative works of, disassemble, reverse compile or reverse engineer any part of the Platform; (c) you shall not access the Platform in order to build a similar or competitive Platform, product, or service; and (d) except as expressly stated herein, no part of the materials on the Platform may be copied, reproduced, distributed, republished, downloaded, displayed, posted or transmitted in any form or by any means. Unless otherwise indicated, any future release, update, or other addition to functionality of the Platform shall be subject to these Terms. All copyright and other proprietary notices on the Platform (or on any content displayed on the Platform) must be retained on all copies thereof.

Governing Law

All matters relating to the Platform and these Terms of Use and any dispute or claim arising there from or related thereto shall be governed by the internal laws of the State of California without giving effect to any choice or conflict of law provisions or rules.

Arbitration

At the Company’s sole discretion, it may require you to submit any disputes arising from the use of these Terms of Use or the Platform, including disputes arising from or concerning their interpretation, violation, invalidity, non-performance, or termination, to final and binding arbitration under the Rules of Arbitration of the American Arbitration Association applying California law.

Entire Terms

These Terms constitute the entire agreement between you and us regarding the use of the Platform.. Our failure to exercise or enforce any right or provision of these Terms shall not operate as a waiver of such right or provision. The section titles in these Terms are for convenience only and have no legal or contractual effect. The word “including” means “including without limitation”. If any provision of these Terms is, for any reason, held to be invalid or unenforceable, the other provisions of these Terms will be unimpaired and the invalid or unenforceable provision will be deemed modified so that it is valid and enforceable to the maximum extent permitted by law. These Terms, and your rights and obligations herein, may not be assigned, subcontracted, delegated, or otherwise transferred by you without Company’s prior written consent, and any attempted assignment, subcontract, delegation, or transfer in violation of the foregoing will be null and void. Company may freely assign these Terms. The terms and conditions set forth in these Terms shall be binding upon assignees.