Terms and conditions
This agreement (hereinafter Agreement) describes the terms and conditions under which the services of the p2p-platform for electronic currency transfers of various payment systems FASTEXCHANGE.CENTER are provided, and is an official written public offer addressed to individuals (hereinafter User) to conclude an agreement to provide services by FASTEXCHANGE.CENTER on the conditions outlined below. Before using the services of FASTEXCHANGE.CENTER, the User must read in full the terms of this Agreement. The use of FASTEXCHANGE.CENTER services is possible only if the user accepts all the terms and conditions of the Agreement. A current version of the Agreement is available for public access on the website of FASTEXCHANGE.CENTER (https://Fastexchange.center).
2.Terms and definitions used in the Agreement
FASTEXCHANGE.CENTER Service - is the name of a p2p-platform for electronic currency transfers of various payment systems, and offers its services via a special program interface to all Users.
User - any individual who wishes to use the services of FASTEXCHANGE.CENTER and who has accepted the Agreement in accordance with its terms.
Payment system - a software product created by a third party, which is a mechanism for accounting monetary and/or other obligations, payment for goods and services on the Internet, as well as the organization of mutual settlements between its users.
E-currency - a monetary and/or other obligation between the developer of this currency and its user, expressed digitally.
Payment/transaction - transfer of electronic and/or other currency from the payer to the recipient.
The client of payment system - the person who has concluded the agreement with the corresponding payment system for acquisition of property rights of the claim to it measured in the conventional units accepted in the corresponding payment system.
Order - the information provided by the User by means of the Service in the electronic form indicating their intention to use the services of the Service under the conditions offered by the Service and specified in the parameters of the order.
Initial currency is the currency that the User wishes to exchange.
Source Account - the number of the Wallet or any other designation of the User's account in the Payment System from which the Source Currency was sent.
Receiving currency - currency that User receives as a result of exchange of Source currency
Receiving account - number of User's account in the Payment system, to which the Receiving Currency will be sent.
Reserve Currency - the amount of a certain Electronic Currency available to the FASTEXCHANGE.CENTER Service at the time of creating the Order.
Currency exchange - exchange of electronic currency of one payment system for electronic currency of another payment system.
Exchange rate - the value ratio of the two electronic currencies at the time of the exchange.
Service disruption - interference with the software or hardware of the Service; distortion of the parameters transmitted to the Service; as well as the creation of orders, without actually paying for them, for the time interval defined by the system.
3. Subject of the agreement
The subject of this Agreement is the exchange of electronic currencies between physical persons via p2p-payments. 3.2 The Service offers its services to all Users.
3.2 The Service offers its services to all Users, and does not supervise any User's transactions in any Payment System.
3.3 Any completed electronic currency exchange transaction cannot be cancelled by the User after it is finished, i.e. after the User has received the funds in electronic or fiat currency he is owed according to the previously accepted terms of the transaction.
4.Rights and Obligations of Parties
4.1 Rights and liabilities of the Service
4.1.1 The Service provides the services on the "as is" basis, as described on the Service's website, without additional warranties of any kind.
4.1.2 Out of concern for the quality of the services provided to the Users, FASTEXCHANGE.CENTER undertakes to perform all the activities under this Agreement
4.1.3 The Service guarantees the fulfillment of the User's obligations only within the amounts the User has entrusted to the Service for exchange transactions.
4.1.4 The Service will do its best, but does not guarantee the 24/7 availability of the Service. The Service assumes no responsibility for any losses, lost profits or other expenses incurred by the User as a result of their inability to access the site or the Service.
4.1.5 The Magnetic Exchange assumes no responsibility for any damages, lost profits or any other User's expenses caused by delays, errors, or failures in processing any bank transfers or electronic currency transfers. It will also be liable for any loss or damage resulting from the User's false expectations in respect of the fees charged by the Service, transaction profitability and other subjective factors.
4.1.6 In case the order is executed, the Service is not responsible for and will not pay damages if the User has provided incorrect details when filling out the order. In this case, the Service does not undertake to refund such funds.
4.1.7 In case of violation of this Agreement by the User, the Service has the right to terminate the agreement by refusing to fulfill the order and return the received funds to the details of the sender, or other details provided by the User by sending a letter directly from the email address specified in the application. In case of impossibility or refusal (as well as ignoring) of the request of the Service to specify the details in the abovementioned way, the Service reserves the right to return the received funds to the source of receipt.
4.1.8 The FASTEXCHANGE.CENTER Service does not verify the legality and legitimacy of the User's use of electronic currencies and/or cash involved in a certain transaction.
4.1.9 The Service reserves the right to suspend or cancel a transaction if the User has violated the terms of this Agreement, and return the funds paid by the User to the User's account.
4.1.10 The Magnetic Exchange reserves the right to restrict the User's access to certain Services in case of their violation of this Agreement or if the User suspects that they are attempting to disrupt the Service (see the paragraph "Terms").
4.1.11. With a technically complicated software product, the Service allows for the possibility of technical failure and reserves the right to refuse to fulfill the terms of this agreement with a full refund to the User's account in such cases.
4.1.12. In case the funds received from the User have been transferred to the Service in the amount, which is different from the amount stated in their application, the Service reserves the right to consider it as a User's instruction to recalculate and to automatically send the request in accordance with the actual amount received, without any additional correspondence from the User.
4.1.13. The Service reserves the right to terminate the agreement with the User unilaterally and refund the User if the payment has been received in excess of the time allocated for payment.
4.1.14. The Service reserves the right to charge the User with the expenses related to refunds in cases specified in the Agreement. (4.1.9.; 4.1.12; 4.1.13).
4.1.15. The Service reserves the right not to apply the conditions of the Partner program to exchange transactions involving cash funds.
4.1.16. The Service reserves the right to deduct 5% as a compensation for the expenses incurred by the Service and the Partner's commission, if the amount received has been returned in a currency other than the currency the Service expects the payment to be made in.
4.1.17. FASTEXCHANGE.CENTER Service is not a party to the agreement between the Payment system/Exchange and the Client of the Payment system/Exchange and is in no way liable for the actions of the Payment system/Exchange or its Client.
4.1.18. The Service performs automatic registration of the User after the creation of the application.
4.1.19. When sending funds to a Ripple wallet, you must specify the recipient's XRP address and the payment identifier (destination tag), if any, to identify the payment by the recipient. If the payment identifier (destination tag) is not specified by the user when placing an order, the Service considers that this parameter is not needed for the recipient of the funds and will send XRP with a random number assigned to the destination tag.
4.1.20. If the amount of cryptocurrency sent by the User is less than 0.001 equivalent (Bitcoin, Ethereum and others), the Service reserves the right not to return them if the commission exceeds the amount of the return.
4.1.21. The service does not accept USDT TRC-20 from smart contract wallets.
Transactions are verified by the AMLBot service, in accordance with the AML/KYT
4.1.23. Rate fixing conditions. The Service informs the User about fixing the exchange rate. All information is provided to the User when creating an application.
4.1.24. The Service has the right to cancel an application created by the User for the purchase of electronic or fiat currency, if payment for such an application has not been received on the Service's settlement account after 20 (twenty) minutes have passed since the creation of such an application.
4.1.25. In the time allotted by the regulations, from the moment of receipt of funds from the User, in the amount specified in the relevant application, the Service is obliged to transfer electronic or fiat currency to the User to the details and in the amount specified by the User in the application, unless force majeure circumstances prevent this. The Service undertakes to make every effort to process the User's application as soon as possible, but no later than 24 hours from the moment the User pays for the application. The standard processing time for the application to which the service strives is no more than 30 minutes from the moment the funds are received on the exchange request from the User.
4.1.26. The service has the right to return funds to the source of receipt if the user does not specify other details for the return of the funds received. Any orders of the User to the Service are accepted only by sending a letter by the User directly from the e-mail address specified in the application to the e-mail of the Service. If it is impossible, or refused (as well as ignoring) the request of the Service to clarify the details in the above way, the Service reserves the right to return the funds received to the source of receipt.
4.2 Rights and obligations of the User
4.2.1. Using the services of the FASTEXCHANGE.CENTER Service, the User confirms that he legally owns and disposes of the funds and electronic currency involved in the relevant Payment.
4.2.2. The User must take into account that the only acceptable way for the service to change the details in the created application is an e-mail sent from the mail specified by the User in the application.
4.2.3. The User undertakes to independently calculate and pay all taxes required under the tax laws of the User's location.
4.2.4. By transferring funds for exchange to the details provided by the Service in the application, the User confirms his agreement with this Agreement.
4.2.5. The User can express his gratitude for the work of the Service in any form convenient for the User.
4.2.6. The User undertakes not to use the Service for fraudulent and illegal operations.
4.2.7. The User undertakes not to disrupt the operation of the Service.
4.2.8. The user undertakes to indicate the number of the card from which the payment will be made. If the user sent money from another card (account) or, avoiding a direct transfer, used the services of third parties / services, the Service reserves the undeniable right to 1. terminate the agreement with the user unilaterally, 2. return the funds received to the source of their receipt .
4.2.9. The User undertakes to independently study and understand the terms of the Payment System / Exchange / Bank used by him, which are governed by the relevant agreements, rules and conditions between them and the client.
4.2.10. By using the services of the Fastexchange.center Service, the User confirms that he legally owns and disposes of the funds and electronic currency involved in the relevant Payment.
4.2.11. Conditions for creating an application: The user has enough funds to make a payment for the application. Manages its own funds and does not use details/funds of third parties.
The User can obtain additional information by contacting the online chat support on the FASTEXCHANGE.CENTER Service website or by sending an email to [email protected]
4.2.13. The application created by the User must be paid within 20 minutes of the allotted time for payment of the application.
5. Warranties and Responsibilities of the Parties
5.1. The FASTEXCHANGE.CENTER service is not responsible for the User's losses resulting from illegal actions of third parties.
5.2. The service guarantees the fulfillment of the terms of this agreement.
5.3. In exchange requests in which the Source currency is a cryptocurrency, the Service guarantees the fixing of the exchange rate after the first confirmation of the transaction in the network. Until confirmation is received, the order can be recalculated according to the exchange rate, if it changes by more than 0.5%. If the order is paid in an amount different from the declared one, the exchange rate for such an order will be recalculated according to the exchange rate at the time of receipt of payment. If the order is paid after the payment timer has expired, the exchange rate for such order will be recalculated according to the exchange rate at the time the payment was received. In applications for exchange, in which the Source currency is cash, the rate will be recalculated by the system every 5 minutes, until the moment the money is actually received by the Service partner.
5.4. The User is obliged to provide reliable information when filling out the Application. If the User did not indicate or incorrectly indicated the data, the FASTEXCHANGE.CENTER Service is not responsible for the User's losses incurred as a result of an error.
6. Force Majeure
6.1. Neither the User nor the Service will be liable to each other for delays or failure to fulfill their obligations resulting from the occurrence of force majeure circumstances, including natural disasters, fire, flood, terrorist attacks, power shifts, civil unrest, failures of Payment systems, energy supply systems, communication networks and Internet service providers.
6.2. In the case of an executed application, the Service is not responsible and does not compensate for losses if the User incorrectly specified the details when filling out the application. In this case, the Service is not obliged to take actions to return such funds.
6.3. In the event that the User mistakenly made a transfer to details that differ from those provided by the Service to pay for the application, the Service is not responsible and does not compensate for losses and is not obliged to take actions to return such funds.
6.4. Bank account blocking.
- In case of blocking the User's account as a result of an attempt to transfer funds to the Service, the Service will make efforts to assist the User. It will also provide other details for paying for the application (if technically possible). The decisions and actions of bank employees are not within the scope of the Service, so the user must understand that the assistance provided by the Service can only be advisory (recommendatory).
- In case of blocking the account of the Service as a result of a transaction from the User, the execution of the application may be suspended. The decision to resume or cancel the application is made by the Service unilaterally, individually in each case. Such a decision is possible only after the Service can verify the presence/absence of receipt of funds from the User
7. Policy for the processing and storage of personal data.
All information received from the User during the exchange operation or at the request of the Service is confidential, securely encrypted using an SSL certificate and not disclosed to third parties, except for the following situations:
- at the request of law enforcement agencies;
- By the tribunal's decision;
- at the request of the administration of one of the payment systems.
Terms of Certain Payment Systems:
- Payment Systems and/or financial institutions are solely responsible for the funds entrusted to them by the User. The Service cannot be a party to the agreement between the Payment system and/or financial institution and the User and is not responsible in any way for improper or unauthorized use of the Payment system features by the User, as well as for misuse of the Payment system functionality by the User. Mutual rights and obligations of the User and Payment system and/or financial institution are regulated by respective agreements.
- Bank payments are processed by the Service within 24 hours, if necessary, the Service may require Verification of the Client's card (account);
- Perfect Money may delay transfers for more than 24 hours;
- In accordance with the Qiwi Offer any payment made through this payment system can be stopped for additional verification by the Qiwi Banking Security Service. The algorithm by which payments are selected for verification is not disclosed. Thus any of our transfers to and from the client may be delayed for up to 48 hours. Following a decision of the Qiwi Banking Security Service, the funds will either be transferred to the beneficiary or returned to the sender. The process is independent of us and each situation will be resolved one way or another. If the client's transfer is checked by SB Qiwi, after the transfer has passed the check and reached us, the request is restored at the current exchange rate;
- Citizens of Ukraine agree that they cannot make exchanges involving the Qiwi Payment System due to the prohibition of the State Authorities of Ukraine to work with this payment system.
- Bank transfers in the direction of Visa/Mastercard in most cases are credited instantly, but in some cases may take up to 5 banking days.