2. Unless otherwise expressly agreed by CommEX in writing, this version of these Convert Terms replaces and supersedes all previous agreements that may have been accepted by you or otherwise made available on the Platform. The term "Platform" in these Convert Terms refers to the digital platform accessible via any website, page, feature, or content owned or operated by CommEX, any mobile application developed or provided by CommEX, any API Connection made available to users or third-party applications relying on such API Connection, or other means CommEX may prescribe for Convert Services use.
3. By accessing and using the Convert Services (as defined below), you confirm that you have read, understood, and accepted all of the terms and conditions in these Convert Terms, and you agree to be bound by and comply with them. If you do not fully understand and accept these Convert Terms, please do not access or use the Convert Services.
4. After completing the registration and identity verification for your account, you may access the Convert Services, which enable users to buy and sell Digital Assets based on prices provided by CommEX (the "Convert Services"). Through the Convert Services, users can request to convert one Digital Asset into another Digital Asset , based on supported trading pairs available on the Platform (a "Conversion"), which CommEX may accept or reject at its sole discretion. If accepted, a transaction will occur between CommEX and the user, subject to the terms detailed in these Convert Terms.
5. To request a Conversion between a supported trading pair, you can place: (i) a market order, specifying the type and amount of the Digital Assets (each an "Asset") to be converted and the type of Assets to be received after the Conversion (a "Convert Market Order").
6. If you place a Convert Market Order, CommEX may provide a non-binding, indicative, and discretionary quote for the conversion (a "Convert Quote"), which you can accept or decline within a timeframe determined by CommEX. It is your responsibility to check the competitiveness of the price and decide whether to accept the Convert Quote within the specified time. Accepting the Convert Quote results in submitting a trade request to CommEX to process the requested Conversion at the price provided in the Convert Quote (a "Trade Request"). The submission of a Trade Request authorizes CommEX to temporarily lock the necessary amount of a user's Assets until the Conversion is completed, subject to CommEX 's right to reject any such Trade Request.
7. Accepting a Convert Quote and submitting a Trade Request does not obligate CommEX to process the requested Conversion on behalf of the user. CommEX may accept or reject the Trade Request at its sole discretion based on market conditions and other factors.
8. If CommEX accepts a Trade Request, it guarantees the price of the requested Conversion (regardless of price movement) and the amount of the involved Assets. CommEX will settle the Conversion by debiting the user's account for the agreed-upon amount of Assets to be converted and crediting the account with the agreed-upon amount of Assets to be received after the Conversion. Settlement generally occurs within seconds of CommEX accepting the Trade Request, but it may take longer depending on factors such as market conditions and technical issues. Users cannot cancel a requested Conversion or transfer, withdraw, or trade the affected Assets once a Trade Request is accepted. CommEX is not responsible for potential losses or opportunity costs due to Asset price changes during the settlement period.
9. CommEX has the exclusive authority to determine which Assets are listed and available for Conversion and may add or remove Assets without prior notice. CommEX may also change the order size available for a Conversion with respect to a particular Asset. Users may be notified of such additions, removals, or amendments, but CommEX is not obligated to provide notice and shall have no liability for any losses associated with such changes.
10. Users are encouraged to conduct independent research into different Digital Assets prior to using Convert services and take steps to understand the risks associated with trading Digital Assets. Users bear full responsibility for ensuring that the Convert Services are suitable for them, considering their financial objectives and circumstances. Users shall be solely responsible for any profit or loss sustained in connection with their use of the Convert Services. CommEX does not make any representation or guarantee as to the outcome to be received by trading Digital Assets.
14. Users are solely responsible for any tax obligations arising from the use of the Convert Services, and CommEX shall not be liable for any losses or penalties incurred due to the users' non-compliance with their respective tax obligations.
15. Users acknowledge and agree that they are responsible for complying with all applicable laws and regulations of their jurisdiction while using the Convert Services, including but not limited to anti-money laundering (AML) and know-your-customer (KYC) regulations.
16. CommEX is not liable for any losses incurred by users as a result of using the Convert Services, including market losses, technical issues, third-party malfeasance, or fraudulent activities. Users shall indemnify and hold harmless CommEX and all associated entities from any claims or demands, including reasonable attorneys' fees, brought about by users' access or use of the Convert Services or breach of the Convert Terms.
18. CommEX may require additional documentation or information from users to verify their identity or compliance with terms, at any time, for AML/KYC purposes, or any other regulatory requirements. Users consent to providing such information upon request and acknowledge that CommEX may limit or suspend their access to Convert Services if they fail to provide the required documentation or information.
19. By using the Convert Services, users warrant that they are not listed on any sanctions lists, including but not limited to those maintained by the United Nations, European Union, United States, or any other jurisdiction. Users also warrant that they are not residents of or located in any prohibited jurisdiction and agree to immediately cease using the Convert Services if their residency or location changes to a prohibited jurisdiction.
20. CommEX may, at its sole discretion, modify, suspend, or terminate any aspect of these Convert Terms or the Convert Services, with or without prior notice. Upon any such modification, suspension, or termination, users are responsible for continued compliance with the remaining terms.
21. CommEX disclaims any and all warranties, express or implied, about the Convert Services, including without limitation, warranties of merchantability, fitness for a particular purpose, or non-infringement, to the fullest extent permitted by law. In no event shall CommEX be liable for any consequential, incidental, indirect, punitive, or special damages or losses of any kind, whether or not advised of the possibility thereof, arising out of users' use of the Convert Services.