These Terms and Conditions (the "Terms and Conditions") constitute an agreement between Litest Solution Corp. (the "Company", "we", "us", "our") a company incorporated under the laws of Canada and the user (the “User”, “you”, “your”). These Terms and Conditions govern your access and use of the Company’s website paypatch.io (“Website”) and other designated platforms (the “Platform(s)”) and the Services provided by the Company through any of the foregoing.
By creating an account, accessing, or using the Platform(s), you acknowledge that you have carefully read, fully understood, and agree to be bound by these Terms and Conditions, including any additional terms that may be posted on the Website from time to time. If you do not agree with these Terms and Conditions, you are prohibited from using the Platforms and must immediately cease any use, including any browsing, registration, or other engagement with the Platforms.
By accessing or using the Platform(s), you agree to comply with and be legally bound by any applicable laws and regulations. It is your responsibility to ensure that you are in full compliance with such laws in your jurisdiction.
The Company provides the Services exclusively to legal entities. By using the Platform(s) on behalf of a legal entity, you represent and warrant that you have the authority to bind that entity to these Terms and Conditions. In such cases, references to “the User”, "you" or "your" in these Terms and Conditions refer to both you, as an individual, and the entity you represent.
For the purposes of clarity, these Terms and Conditions apply to all aspects of the Platform(s)’ use, including, but not limited to, registering an account, using the Services, and accessing any associated tools, resources or information made available on the Platform(s).
Scope of Services
The Company provides its Users with a range of cryptocurrency-related services through the Platforms (collectively – the “Services”):
Cryptocurrency exchange services – We provide cryptocurrency exchange services, that allow Users to buy, sell, and trade supported cryptocurrencies for other cryptocurrencies and/or fiat currencies.
Auto Mass Payouts – We provide a service enabling automated payouts in supported cryptocurrencies to multiple recipients simultaneously.
The Platform(s) may integrate with third-party services to provide specific functionalities and improve your overall experience. These third-party services may include, but are not limited to, payment processors, custodians, liquidity providers, security services, messaging and communication tools and other service providers necessary for the smooth operation of the Platform(s).
We are not responsible for the actions, policies, or terms of service of these third-party providers. Your use of third-party services is subject to their own terms and conditions, and we encourage you to review these before engaging with such services. By using the Platform(s), you acknowledge that we are not liable for any issues arising from the actions or failure of third-party services.
The Company is exclusively entitled to decide on the functionality, use, subject matter and the range of the Services as well as to cease rendering the Services. The Company is exclusively authorized to decide on the contents and the nature of the Services as well as to freely add, change, or remove particular elements.
By using the Platform(s), you confirm that you are in a jurisdiction where the use of the Services is legal, and you acknowledge that it is your responsibility to ensure that your use of the Platform(s) complies with all applicable local laws and regulations. We reserve the right to restrict access to the Platform(s) or certain Services based on local laws, and we are not liable for any issues arising from jurisdictional restrictions.
The use of any new services of the Company, after the User has accepted these Terms and Conditions shall be subject to its provisions.
Execution and Settlement of Transactions
By engaging in any transaction, the User acknowledges understanding of the associated risks specified in section 8, and agrees to comply with the Terms and Conditions as well as all applicable guidelines and instructions provided on the Platform(s).
The User may initiate a transaction by submitting an order through the Platform(s) (the "Order"). Such Order will be subject to verification for compliance with the Platform’s operational procedures, as well as any regulatory or internal risk management requirements. Prior to execution, the User must review and confirm all transaction details including, but not limited to, the amount, price, and relevant fees. By confirming, the User certifies that the information provided is accurate and complete.
The User may have the ability to cancel or modify the Order prior to execution, subject to platform-specific restrictions. Once the Order has been executed, it is considered final and binding, and there is no subsequent option for cancellation, modification or refund.
Upon execution of the Order, the User is responsible for providing accurate and complete settlement instructions. These instructions must be communicated in the prescribed format and within the designated timeframes as specified in the Platform(s).
In the event of transaction failures, errors, or delays, we will make reasonable efforts to resolve the issue promptly. This may involve contacting the relevant parties or investigating the technical causes behind the failure. However, we are not responsible for issues arising from external factors, including network outages, blockchain failures, or force majeure events, such as natural disasters or government actions that affect the Platform(s)’ operations.
If there are discrepancies between the expected outcome of the Order and the actual execution or settlement, or if you believe there has been an error, you must notify us within a reasonable timeframe. We will investigate the matter and, where applicable, coordinate with relevant parties (such as third-party service providers) to resolve the issue. We will notify you of any findings and the steps we will take to correct the issue.
Fees, Costs and Pricing
The Company reserves the right to charge and also not to charge any fees for the use of the Platform(s) and the Services. These fees may be deducted automatically from the User’s balance. Fees may vary depending on several factors, including the type of transaction, the Service selected, or the geographic location of the User. The User agrees to pay all such fees associated with the Services, as applicable.
All fees are disclosed in a transparent manner prior to transaction execution, and the User must explicitly confirm them before proceeding. We do not charge any hidden or undisclosed fees.
We reserve the right to update or modify our fees at any time. Any changes will be communicated through the Platform(s), and the new fee structure will apply to transactions, or the Services initiated after the change has been made.
User Account
In order to use the Services, you must register an account (“User Account”) through the Website.
By registering the User Account, you confirm that you are eligible to use the Platform(s) in accordance with clause 5.5.
As part of the User Account registration, the Users shall pass the onboarding process. During the onboarding process, the Users must provide accurate and complete information as requested. As part of this process, the Users must submit the necessary documents and any other relevant documentation required by the applicable laws or the Company’s internal policies.
As part of the onboarding process, the Company will conduct a range of AML/KYC checks on all Users to verify their identity and ensure compliance with applicable laws and regulations. Users may be required to provide additional information during the onboarding process.
You may only register a User Account if you meet the following eligibility requirements:
the User is not subject to any legal or regulatory restrictions preventing from entering into these Terms and Conditions with the Company;
the User is not the resident of, established or located in any jurisdiction that is subject to sanctions, embargos or other similar measures issued by Canada, the United Nations Security Council, the European Union or the United States of America (OFAC), is in the FATF black list or subject to ministerial directives issued by the Minister of Finance;
the User provides all necessary information for the completion of the onboarding process;
the User has not been previously suspended from using the Services.
The Company reserves the right to refuse or discontinue the onboarding process at its sole discretion, including, but not limited to, instances where:
the User fails to provide required information or documentation;
the User does not meet the eligibility criteria;
the User's risk profile is deemed unacceptable according to the Company's internal policies and/or does not satisfy all of our AML/KYC requirements;
any fraudulent or suspicious activity is detected during the onboarding or further due diligence process as outlined below.
The Company will continually monitor all the transactions and activities on the User Account to detect any suspicious or potentially fraudulent activity. During the monitoring process, we may also carry out verification checks regarding certain transactions or activity to understand its purpose and nature. Carrying out those checks might increase the time it takes to process the User's transaction. The Company shall not be held responsible for any delays because of carrying out such checks. The Company shall not bear any losses or damages, direct or indirect because of delays when carrying out verification checks.
The User must cooperate with the Company and promptly respond to any requests for additional information or documentation. The Company may request further clarification or verification of User information at any stage of the relationship.
You agree and warrant that the information you provide at any time will be accurate, current, and complete and to update such information to keep it accurate, current, and complete.
You acknowledge that you are solely responsible for maintaining the confidentiality of your User Account credentials (including any usernames, passwords, or security tokens created or provided). You agree to promptly notify the Company of any suspected unauthorized access to your User Account or any other breach of security.
Duration and Termination of Use
User Accounts in the Platform(s) are opened without a term. If a User has no valid agreements concluded via the Platform(s) and no longer wishes to use the Platform(s), they can close the User Account and terminate the agreement concluded with the Company without advance notice. For that purpose, the User needs to send the respective request to the Company through the email specified in section 14.
The Company reserves the right to limit, suspend or terminate your User Account without notice to you at any time for any reason, including, but not limited to, if:
the User violates or has violated the Terms and Conditions or any other User obligations;
the User does not accept new Terms and Conditions upon first logging into the Platform(s) after the new Terms and Conditions have been made available in the Platform(s);
the User has submitted to the Company or other Users data and/or information that is incorrect, misleading and/or inaccurate;
the User behaves upon using the Platform(s) in bad faith, without dignity, illegally or in contradiction with the moral standards recognized in the society or engages in the activities listed in clause 7.1;
the Company has discovered circumstances, based on which there may be a suspicion that third parties have gained possession of the data and/or devices which allow logging into the User Account and using of the Platform(s) and the User Account could be used by an unauthorized person;
the User, despite receiving the relevant request of the Company, does not submit documents or information that are necessary to perform Company’s AML/KYC obligations pursuant to current legislation;
the Company suspects that the User is using the Platform(s) for fraudulent or illicit purposes.
The Company shall have the right to terminate the Platform(s).
Upon the closure of your User Account, you may withdraw any remaining funds subject to the applicable withdrawal terms. This includes the need to complete any pending transactions and settle any outstanding balances. Depending on the method of withdrawal, additional verification or processing times may apply. We will ensure that funds are returned to the account or wallet you designate unless otherwise prohibited by law, regulatory authorities or the Company’s . We are not responsible for any delay or issues arising from third-party withdrawal service providers (e.g., banks or crypto exchanges). Any fees or charges associated with the withdrawal process will be disclosed upfront and may vary depending on the withdrawal method.
Even after the termination or closure of your User Account, we may retain certain data related to your account for legal, regulatory, and compliance purposes, including:
recordkeeping obligations;
financial transaction records that are required for audit and regulatory reporting;
any other data required for the prevention of fraud or legal disputes.
Such data will be stored securely for the period mandated by applicable law, and once the retention period expires, it will be securely deleted or anonymized.
Once your User Account is terminated or closed, you will no longer have access to the Services.
Prohibited Use
You agree that you are responsible for your own conduct when using the Platform(s) and for any consequences thereof. You agree to use Platform(s) only for purposes that are legal, proper and in accordance with these Terms and Conditions and any applicable laws or regulations. By a way of example, and without limitation, you may not:
engage in any actions designed to artificially affect the price, volume, or trading conditions of cryptocurrencies on the Platform(s);
commit or attempt fraudulent activities such as the use of false information, misrepresentation, or deceptive practices;
use the Platform(s) to process funds obtained through illicit means or to conceal the true origin of assets;
use the Platform(s) to fund or facilitate terrorist activities, including any transactions that support organizations or individuals involved in terrorism;
use stolen or falsified identification to open accounts or conduct transactions;
upload or distribute materials that infringe on intellectual property rights, including copyrighted, trademarked, or patented content;
use the Platform(s) to engage in activities that could harm other users, including cyber-attacks, phishing, or spreading malicious software;
attempt to bypass the Platform’s internal systems, security measures, or account restrictions;
attempt to access or use the Platform(s) through VPN, proxy services, or other tools designed to mask your location or circumvent geographic restrictions, unless explicitly permitted by the Company;
engage in structuring (smurfing), layering, or other techniques designed to evade AML detection or to conceal the true beneficiary or source of funds.
Risk Disclosures
The use of the Platform(s) carries various risks that the User must fully understand before proceeding. These risks may result in substantial financial loss, and it is essential to acknowledge and accept the risks outlined below. It is crucial for Users to stay informed and cautious when engaging in transactions involving cryptocurrencies, as the market is inherently unpredictable and may present unforeseen challenges. Risks related to the use of the Platform(s) include, but are not limited to:
Volatility of Cryptocurrencies – The value of cryptocurrencies is highly volatile and may fluctuate significantly within short periods of time, potentially resulting in substantial losses.
No Guarantees of Value and Market Liquidity Risks – We do not guarantee the future value, stability, or liquidity of any cryptocurrency. Certain cryptocurrencies may have limited or no active markets.
Regulatory Risks – Cryptocurrencies and related services are subject to uncertain, evolving, and potentially restrictive regulatory frameworks in different jurisdictions, which may affect their use, availability, or legality.
Security Risks – Cryptocurrencies are susceptible to cyberattacks, hacking, phishing, malware, and other security threats that could compromise funds, accounts, or data.
Transaction Irreversibility – Cryptocurrency transactions are irreversible once completed. The Company is not responsible for any inaccuracy in the data provided by you. You are obliged to check all the information before submitting it to the Company. Reversing or cancelling a transaction after it is initiated is not possible due to the nature of blockchain technology.
Platform Downtime and Technical Issues – The Services may be affected by scheduled maintenance, unexpected outages, or technical failures, which may temporarily restrict access to accounts or delay transactions.
Counterparty Risk – Engaging with third parties, such as exchanges, wallet providers, or payment processors, carries the risk that such parties may default, fail, or otherwise not perform their obligations.
Network Risks – Public blockchain networks may experience congestion, delays, forks, or other disruptions that can impact transaction confirmation times or network functionality.
Loss of Private Keys or Credentials – Access to cryptocurrencies is dependent on private keys, passwords, or other authentication credentials. Loss, theft, or compromise of these credentials may result in permanent loss of assets.
Fraud or Scam – Cryptocurrencies industry is a target of fraud, scams, and other illicit schemes. Fraudulent schemes can lead to significant financial losses, and users may have little to no recourse for recovering stolen assets.
Tax and Legal Obligations – You agree that the Company is not responsible for determining whether or which laws may apply to your transactions, including tax laws. Users are solely responsible for determining and fulfilling any tax, reporting, or legal obligations arising from their use of cryptocurrencies and related services.
Market Manipulation Risks – Cryptocurrency markets may be vulnerable to manipulation, including practices such as pump-and-dump schemes, wash trading, and other abusive behaviours that may distort market prices.
By using the Platform(s) and engaging in cryptocurrency transactions, the User acknowledges that they fully understand and accept all possible risks. If the User is in any doubt as to the actions the User should take, we encourage the User to consult with legal, financial, tax or other professional advisor(s). If any of the risks are unacceptable to the User, the User should not use the Platforms.
Personal Data Processing
All personal data processed in connection with the Platform(s) is processed in accordance with the Company’s Privacy Policy available at https://www.paypatch.io/privacy-policy which forms an integral part of these Terms and Conditions.
Intellectual Property Rights
Any and all intellectual property rights to the Platform(s), including the structure, web design elements, texts and other components of the Platform(s), and the intellectual property rights related to them (including the intellectual property rights to trademarks, logos, brands, software, databases, news, messages, texts, graphic, musical and other design) belong to the Company, unless the rights of another person are referred to with regard to a component, or information has been entered by the Users of the Platform(s). Users shall not be allowed to change, reproduce, disseminate, process, translate, make extracts from, forward, include in other databases or make public the Platform(s) or any of its contents or components or use it in any other manner that is beyond the intended purposes of the Platform(s) without the prior written consent of the Company. Furthermore, the User shall not be allowed to grant sub-licenses for using the Platform(s) or any of its contents or components or create new objects of intellectual property based on them.
Users are allowed to publish only such material in the Platform(s) for which they have intellectual property rights to the extent that is necessary for publishing the respective materials in the Platform(s). The User shall be fully responsible for the materials published in the Platform(s) by them and shall be obliged to compensate to the Company any and all expenses and damages caused (including indirect damages) that are related to the use of material published by the User in the Platform(s) in an unauthorized manner or in a manner that otherwise violates rights arising from intellectual property.
With publishing of any material in the Platform(s) by the User, the User shall give their unconditional and free consent to the Company to store, disseminate and publish such material in accordance with the Terms and Conditions and to change or process in any other manner to the extent that is necessary for the intended use of the Platform(s).
Limited liability
Except where prohibited by applicable laws and regulations, you expressly acknowledge and agree that the Company or any of its predecessors, successors, parents, subsidiaries, affiliates, officers, directors, shareholders, investors, employees, agents, representatives, attorneys and their respective heirs, successors and assigns otherwise have no liability for any damages, including direct, incidental, punitive, special, consequential or exemplary damages that directly or indirectly result from the use of, or the inability to use, the Platform(s), the Services, any of the materials obtained from the User’s use of the Platform(s) and/or the Services, including for viruses alleged to have been obtained from the Platform(s) and/or the Services, even if the Company has been advised of the possibility of such damages.
For the avoidance of doubt, we bear no responsibility for third party transactions. Any claims regarding such third party transactions shall be directed to the relevant third party only.
In no event shall the Company’s or any of its predecessors’, successors’ parents’, subsidiaries’, affiliates’, officers’, directors’, shareholders’, investors’, employees’, agents’, representatives’ and attorneys’ and their respective heirs’, successors’ and assigns’ total liability to you for all damages exceed the amount you have paid the Company for the use of the Platform(s).
The limitations set above will not apply to damages caused by the gross negligence, fraud, or wilful misconduct of the Company, any of its predecessors, successors, parents, subsidiaries, affiliates, officers, directors, shareholders, investors, employees, agents, representatives, attorneys and their respective heirs, successors and assigns or to the extent such limitations are precluded by applicable law (in which case the liability will be increased to the minimum amount required to comply with such law).
Complaints Handling and Dispute Resolution
The User who wishes to file a complaint may do so through by sending a written complaint to XX@XX.XX.
The Company will acknowledge the receipt of the complaint within 5 business days. The complaint will be reviewed by the relevant department, which will assess the issue, conduct any necessary internal inquiries, and determine an appropriate resolution. A formal response will be provided within 15 business days after the receipt of the complaint. If further investigation is required, the complainant will be informed of the extended timeline, along with periodic updates on the status of the complaint.
In the event that a dispute cannot be resolved through the internal complaints process, you have several venues to further address the dispute, such as arbitration or seeking legal recourse through the courts of Canada. Each party shall bear its own legal costs associated with court proceedings unless otherwise determined by the court or agreed upon in a settlement.
Miscellaneous
Modifications: The Company reserves the right to modify, amend, or update the Terms and Conditions at any time, at its sole discretion. All modifications will be effective immediately upon posting the updated Terms and Conditions on the Website or through any other communication methods, such as email or in-app notifications. It is your responsibility to regularly review these Terms and Conditions to stay informed of any changes. Continued use of the Platform(s) after any updates to these Terms and Conditions constitutes as your acceptance of the changes.
Governing Law: These Terms and Conditions and any action related thereto will be governed and interpreted by and under the laws of the Province of British Columbia, Canada, without giving effect to any principles that provide for the application of the law of another jurisdiction.
Language: We may translate these Terms and Conditions (or any of the agreements that make up, or are incorporated within, these Terms and Conditions) into other languages for Users’ convenience. In the event of any conflict between the English language version and a translated version, the English language version will prevail.
Assignment: These Terms and Conditions are personal to the User and the User cannot transfer or assign the User Account, rights, licenses and/or obligations to anyone else without the Company’s prior written consent. The Company may assign its rights licenses and/or obligations under these Terms and Conditions at any time, including, as part of a merger, acquisition or other corporate reorganization involving any Company’s affiliate or group company, provided that this transfer or assignment does not have an adverse material impact on the quality of the Services which the User receives.
Warranties: The Platform(s) and the Services are provided on an “as is” and “as available” basis without any warranties of any kind, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, and non-infringement. The Company makes no representations or warranties regarding the reliability, accuracy, or availability of the Platform or any information provided through it.
Indemnity: The User agrees to indemnify the Company, its predecessors, successors, parents, subsidiaries, affiliates, officers, directors, shareholders, investors, employees, agents, representatives, attorneys and their respective heirs, successors and assigns against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages incurred due to (i) the User’s use (or misuse) of the Platform(s), (ii) the User’s violation of these Terms and Conditions, or (iii) the User’s violation of other policies, guidelines or instructions of the Company, or (iv) the User’s violation of any applicable law, regulation, or rights of any third party during the User’s use (or misuse) of the Platform(s).
No Waiver: Any waiver or failure to enforce any provision of these Terms and Conditions on one occasion will not be deemed a waiver of any other provision or of such provision on any other occasion.
Severability: If any portion of these Terms and Conditions is held invalid or unenforceable, that portion will be construed in a manner to reflect, as nearly as possible, the original intention of the parties, and the remaining portions will remain in full force and effect.
Entire Agreement: These Terms and Conditions, together with any specific terms of the Services, the Privacy Policy and the Cookies Policy constitute the entire agreement between the Company and its Users with respect to the subject matter hereof, which supersedes and merges all prior discussions between the Company and its Users with respect to such subject matter.
Contact information and support
If you have any questions with respect to the Terms and Conditions, the Platform(s) or the Services please contact us via support@paypatch.io and a member of our support team will be happy to help you.
Inquiries should include sufficient detail to allow for proper review. The Company may request additional information for verification or compliance purposes before providing a response to any inquiry.
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