VN Exchange: Basic Rules and Terms

1. Key definitions, concepts, and terms

1.1. Service vn-exchange.com (hereinafter - Service) – a service that provides services exclusively to individuals in terms of exchanging, buying, or selling electronic and other currencies. These services are carried out through a special software complex, accessible at https://vn-exchange.com
1.2. User – a natural person who has unconditionally accepted all the terms of this offer and uses the services of the vn-exchange.com service
1.3. Payment system – a software complex created by a third party, through which the accounting of digital monetary units, electronic money, and other obligations is carried out, mutual settlements of users are organized, etc. Under this agreement, the key payment systems are considered: Yandex.Money, BTC, Perfect Money, QIWI, Payeer, etc. Legal and natural persons can always find out the full list of all payment systems on the vn-exchange.com website.
1.4. Electronic money (electronic currency) – these are monetary or other obligations that arise between persons using this currency and those who created it. The mentioned obligations have a digital form.
1.5. Operations (payments) – the execution of a transfer of digital currency (electronic money) from the sender's account to the recipient's account
1.6. Application – a specific intention of the vn-exchange.com resource visitor to use its services, accepting the corresponding rules of this offer. This intention is expressed in the form of providing information by the user and its transfer to the service through a special electronic form, which is located on the vn-exchange.com resource
1.7. Original electronic currency – the currency that the user has available and which they want to exchange or sell, receiving in return another electronic currency or money in another form
1.8. Received currency – the currency that the vn-exchange.com service user receives as a result of the exchange, transferring the original currency to the service
1.9. Parties – all users who have unconditionally accepted the rules specified in this agreement and decided to use the services of the vn-exchange.com service, as well as the vn-exchange.com service itself
1.10. Currency exchange – the execution of an operation to exchange electronic currency of various payment systems
1.11. Currency reserves – the amount of electronic money that the vn-exchange.com service has in its possession, and within which users can carry out exchange operations through this service.
1.12. Rate – the ratio of one electronic currency to another in the process of making an exchange.
1.13. Service's Website - https://vn-exchange.com/.

2. Subject of the Agreement. The Order of Its Entry into Force.

2.1. The subject of this agreement is the provision of a range of services to vn-exchange.com users, namely:
2.1.1. Services for exchanging one electronic currency for another or for money in another form.
2.1.2. Services for selling electronic money.
2.1.3. Services for purchasing electronic money.
2.2. User acceptance of the terms of this agreement is carried out when:
2.2.1. Filling out the application form for exchange and its subsequent submission for execution to the service.
2.2.2. Registration on the vn-exchange.com website.
2.3. When forming an exchange application, the user confirms agreement with all the rules of exchange and confirms their intention to use the service on the terms offered to them.
2.3.1. This agreement comes into force as soon as the funds from the user are received by the vn-exchange.com service for the further crediting of electronic currency or money in the amount provided for by the terms of the application.
2.3.2. As soon as the funds are received at the details specified by the user, the current agreement automatically loses its force. This action also occurs when the user cancels the exchange application.
2.4. By accepting this agreement in electronic form, each party thereby recognizes its legal force, equivalent to a similar agreement in written form.
2.5. Any changes to the current agreement may be made by the vn-exchange.com service without the need to mandatorily notify the user of such changes. However, this does not cancel the service's obligations to post the current version of the agreement on the vn-exchange.com website.

3. Cost of Services. Subject of the Agreement

3.1. The subject of this agreement is the services of the service in terms of the sale, acquisition, or exchange of electronic currency of various payment systems. All of the above operations can be carried out exclusively at the user's initiative and only in the case of their agreement with all the terms of the agreement.
3.2. For the services provided to the user, the latter pays the service a commission fee, the amount of which is included in the sum of the exchange application.
3.3. The user can find all information about the current exchange rate, methods of exchange, and the amount of money transferred and received by the user at one of the stages of filling out the application.

4. Terms Under Which the vn-exchange.com Service Provides Its Services to Users

4.1. Submitting an application for the exchange of electronic money by the user to the service is equivalent to ordering vn-exchange.com services.
4.2. The user interface on the vn-exchange.com website allows users to manage the exchange process and receive the most current data regarding the services provided.
4.3. User applications are processed in strict accordance with the privacy policy described in section 5 of this agreement, as well as the policy against illegal transactions and money laundering, specified in section 6.
4.4. The service has the right to send title units not in one transaction but from several wallets in multiple transactions to avoid blocks and errors in payments.
4.5. All transactions made with electronic money are accounted for in strict accordance with the rules, regulations, and format of the existing payment systems.
4.6. Any completed operation carried out by the Service on the User's Application is considered irrevocable, i.e., it cannot be canceled by the User after its completion - receiving the funds due to him under the previously accepted terms of the deal.
4.7. If more than 60 minutes have passed since the acceptance of the application, but the funds from the user have not been received by the service, the agreement will be automatically terminated and lose its force. Under the aforementioned conditions, the service has the right to unilaterally terminate the agreement without notifying the user.
4.8. In case of termination of the agreement, electronic units received after the above period are subject to return to the sender's details within the following 48 hours. When making a return, all commission costs for transferring electronic units are deducted from the received funds at the expense of the User. The service is not responsible for possible delays in the return if they did not occur due to the Service's fault.
4.9. The service has the right to unilaterally terminate the agreement if the amount of electronic currency declared by the user and its actual transferred amount differ. In this case, the service has the right to refuse to provide the user with the service, with the obligatory return of the previously transferred funds within 48 hours. All commission costs will be deducted from the user's funds. If there are some delays in the return of funds, but they are not related to the actions of the service, the latter will not be responsible.
4.10. If the money equivalent is not sent to the User's specified details within 48 hours from the moment of receiving the payment from the User, in the absence of reasons for blocking the Electronic units received by the User's request by the Service, the User may demand the termination of the agreement by canceling his application and returning the electronic units in full.
4.11. All requirements related to the cancellation of the application are performed by the service only if at the time of receiving this requirement the service has not yet sent the funds by the application to the user-specified details.
4.12. As soon as the service receives a request from the client to cancel the application, it will refund the user's funds within 24 hours. If there are delays not due to the fault of the service, it is not responsible for them.
4.13. To fulfill its obligations, the service has the right to involve third-party performers in the process.
4.14. The service reserves the right to unilaterally cancel the transaction and refund the funds with the commission to the user's details. The service is not obliged to inform the user of the reason for refusing to provide the service.
4.15. If the user violates one or more clauses of this agreement, the service reserves the right to refuse the user service.
4.16. The service will notify the client of the refusal of service by e-mail or in a jivo chat. After this, vn-exchange.com will return the funds previously transferred by the user for the application. This return is made within 48 hours. The commission costs are deducted from the user's funds to be returned. If there are delays caused by the fault of the service during the return process, only in this case, it bears responsibility.
4.17. All subsequent Applications created by the User after the service's refusal to further serve the User are automatically frozen; the return in this case will be made within 30 calendar days.
4.18. The vn-exchange.com service reserves the right to delay the execution of the exchange operation if it needs to identify the user's identity. Such identification can be carried out through a phone call or other methods that do not contradict current legislation.
4.19. As soon as the user confirms his intention to use the services of vn-exchange.com, he automatically confirms that all funds involved in the process of buying, selling, or exchanging belong to him on a legal basis, and are not obtained by illegal means.
4.20. If tax legislation provides for the payment of taxes and other levies, the user is obliged to pay them independently.
4.21. Conditions of some PS: When making a transaction with cryptocurrencies Ethereum, Litecoin, and Bitcoin, the user should take into account that such an application will be accepted for execution only after 1 successful transaction confirmations.
4.22. By agreeing to the terms of this agreement, the user automatically confirms that he is not involved in: Transactions related to money laundering Operations that involve earning income as a result of terrorist and criminal activities Operations that involve earning income as a result of illegal drug trafficking Transactions related to trade operations with countries with which international trade is prohibited by current legislation Transactions that involve earning income from any other illegal activity
4.23. If the confirmation of the application for the purchase, sale, or exchange of cryptocurrency by the client was delayed for a period exceeding 8 hours, the vn-exchange.com service has the right to demand that the client recreate the exchange application. In addition, in such cases, the service reserves the right to return the funds to the user, with the mandatory deduction of the wallet commission of the cryptocurrency in question.
4.24. The service has the right to unilaterally terminate the agreement if the client violates the service usage order. 4.23.1 The presence of signs of violation of the service usage order in the client's actions is determined at the discretion of the service.
4.25. In the event of unilateral termination of the agreement, the service makes a refund to the sender's details within 30 calendar days.
4.26. The client is responsible for paying all additional commissions associated with the transfer of funds that may be imposed by payment systems (Example: the bank from which the client transfers to the details received from the service charges an additional commission for the transfer). The service carries out the transfer only after receiving the full amount specified in the received application.
4.27. The service does not accept smart contracts and is not responsible for funds sent by smart contracts.
4.28. The service is not responsible for possible delays in transfers that may occur due to the fault of payment systems.
4.29. We do not accept payments from legal entities, applications paid from a legal entity will be blocked.

5. Privacy Policy

5.1. To perform an exchange, purchase, or sale of electronic money or cryptocurrency, the service requests personal data from the user, which it undertakes to store in encrypted form and not to transfer to third parties, except for the situations mentioned in sections 5.4, 5.5, and 6.5 of this agreement.
5.2. Transactions based on applications received from clients, as well as the transfer of client data from them to the service, are carried out through a special encrypted SSL channel (key length – 256 bits).
5.3. If necessary, the service reserves the right to collect additional information about the user on its own initiative, by any means that do not contradict the law. In any case, any information collected about the client will not be transferred to third parties. Exceptions are sections 5.4, 5.5, and 6.5 of this agreement.
5.4. The transfer of personal data of clients, as well as details of their transactions, may be transferred by court decision, official request received in writing from law enforcement agencies, as well as at the service's own initiative. In this case, the confidential status of such data will be preserved.
5.5. Details of a transaction made by a user may be transferred by the vn-exchange.com service upon an official request from the Electronic Settlement System, if the purpose of such a request is to conduct an internal investigation.
5.6. Any data that the service receives from users are subsequently stored in its database for 3 years after the user's last transaction. The same applies to the details of the transactions they have made.

6. Policy Against Illegal Transactions and Money Laundering

6.1. In accordance with current international legislation, the vn-exchange.com service follows a specific set of rules and implements procedures aimed at preventing the use of vn-exchange for transactions related to money laundering, i.e., those transactions whose main purpose is to reintroduce illegally obtained securities or money into the financial-economic market to further present and possess them by legal methods. The service also stops all transactions that have an illegal nature.
6.2. To successfully prevent illegal transactions, the service has adopted certain requirements for applications submitted by clients:
6.2.1. The recipient and sender of the payment according to the application must not be different people. Transfers in favor of third parties are prohibited.
6.2.2. All personal and contact data that the service client specifies in the application must be current at the time of submitting such an application. The authenticity of such data must not be in doubt.
6.2.3. Applications created by users using anonymous connections will not be processed by the service. The creation of such applications is prohibited by vn-exchange.com.
6.3. To prevent possible illegal operations, vn-exchange.com limits user transactions based on factors such as the user's country of residence, the degree of their identification, etc., applies its own system of auto-analysis of client actions and transactions, and always adheres to the policy of 'know your customer'. The service verifies the information received from users by all available means.
6.4. The service has the full right not to execute user applications, but to freeze them, if necessary, to obtain from the client copies of identity documents and copies of documents confirming the legal origin of funds. The user is obligated to provide all the documents required by vn-exchange.com within 7 working days from the date of receiving the request from the service.
6.4.1. If the client refuses to provide documents to vn-exchange.com upon request, the service has the right to refuse further service to him.
6.5. The service has the right to refuse service to the client and transfer all the information collected from the client to law enforcement agencies if it detects transactions aimed at financing terrorism, laundering financial assets, any fraud, or if it suspects the user of providing forged documents. The service's actions in such cases are determined based on various factors, including legal requirements and suspicions of illegal activities by the user.
6.6. Information received from users can be checked by the service by all means.

7. Limitation of Liability

7.1. The service operates 24 hours a day, 7 days a week, but vn-exchange.com is not a banking organization. Its purpose is to provide users with high-quality services, ensuring uninterrupted operation of all components of the software complex.
7.2. The service does not provide any additional guarantees to its clients. All services are provided 'as is.'
7.3. By agreeing to use this service, you consent that vn-exchange.com's liability to you will be strictly limited to the funds it receives from you. The user's liability to vn-exchange.com is also limited. Exceptions are cases mentioned in clause 7.9.
7.4. Specialists of vn-exchange.com make every effort to be available 24/7. However, this mode of operation is not guaranteed, so vn-exchange.com is not liable for losses incurred due to service downtime.
7.5. vn-exchange.com is not liable for failures, errors, and delays in the process of electronic transfers and banking transactions, and for losses incurred due to these reasons.
7.6. vn-exchange.com is not liable for lost income and damages caused by the client's exaggerated expectations regarding the service's exchange terms and other subjective factors.
7.7. If the client makes an error in specifying details and the money is sent incorrectly, the client bears the responsibility, not the service.
7.8. The client is responsible for timely payment of taxes and levies as required by the legislation of their country. The service is not a tax agent.
7.9. In the event of claims and lawsuits from the Service, the client is obligated to compensate for damages only if the losses were not caused by the service's fault.
7.10. The client undertakes not to conduct illegal and fraudulent transactions through vn-exchange.com and agrees to be legally accountable for all attempts to conduct such transactions.
7.11. The client guarantees there will be no falsification of communication flows and undertakes not to interfere with the hardware and/or software part of the service or perform any actions that could lead to the shutdown of the vn-exchange.com service.
7.12. If the service detects negative impacts on its software code or communication flows by the client, the client's application will be frozen, and its execution suspended. Subsequently, the service will take measures mentioned in clause 6.5 of this agreement.
7.13. If the non-fulfillment of obligations by the service or the client was caused by force majeure factors, the parties will not be held responsible.
7.14. Financial institutions and electronic settlement systems are limited to liability within the funds transferred by the client. vn-exchange.com does not bear responsibility for the fulfillment of obligations by these parties.
7.15. By accepting the terms of this agreement, the client confirms that they are not a tax resident of the USA or a citizen of this country.
7.16. If funds are received by vn-exchange.com three months after the client creates an exchange application, they become the property of vn-exchange.com.
7.17. If funds are received by vn-exchange.com, but no exchange application was formed, the service has the right to dispose of these funds at its discretion.
7.18. If the client specifies incorrect details, they must provide vn-exchange.com with the correct details within 3 months, otherwise, the funds become the full property of the service.
7.19. If the amount of funds specified in the application and actually provided by the client differs, vn-exchange.com has the right to stop the exchange and make the exchange at the rate current at the beginning of the transaction after the client contacts vn-exchange.com.

8. Dispute Resolution and Complaints Procedure

8.1. Any disagreements regarding the services of vn-exchange.com are resolved through negotiations between the management of vn-exchange.com and the client, based on the clauses of the current agreement.
8.1.1. All claims from clients are accepted by vn-exchange.com in electronic form by sending a message on the subject of disputes to the specified details.
8.2. If the parties are unable to resolve the conflict through negotiations, they will continue to resolve it in accordance with the legislation applicable at the address of vn-exchange.com's registration.

9. Final Provisions

9.1. vn-exchange.com has the right to send to the client's specified email address current information about the exchange process, as well as other information, including advertising.
9.2. All information specified on the vn-exchange.com website is the property of the service and is protected by copyright from unauthorized copying.
9.3. Acceptance of this agreement automatically means that the client authorizes the service to process their personal data. The client allows the service to copy, systematize, store, clarify, accumulate, use, block, and destroy information provided by the client.
9.4. If the client disagrees with the processing of personal data, they can revoke their consent at any time.
9.5. The user confirms that they have read all the provisions of this Agreement and unconditionally accepts them; otherwise, the user may not use the vn-exchange.com Service.