Terms and Conditions of Use

1. Terms

By accessing this web site, you are agreeing to be bound by these web site Terms and Conditions of Use, all applicable laws and regulations, and agree that you are responsible for compliance with any applicable local laws. If you do not agree with any of these terms, you are prohibited from using or accessing this site. The materials contained in this web site are protected by applicable copyright and trade mark law. When using this website you agree of suspending your rights to sue BitSails company and its employees in any form of legal actions.

2. Use License

  1. Permission is granted to temporarily use the materials (information or software) on BitSails's web site for personal, non-commercial transitory viewing only. This is the grant of a license, not a transfer of title, and under this license you may not:
    1. modify or copy the materials;
    2. use the materials for any commercial purpose, or for any public display (commercial or non-commercial);
    3. attempt to decompile or reverse engineer any software contained on BitSails's web site;
    4. remove any copyright or other proprietary notations from the materials; or
    5. transfer the materials to another person or "mirror" the materials on any other server.
  2. This license shall automatically terminate if you violate any of these restrictions and may be terminated by BitSails at any time. Upon terminating your viewing of these materials or upon the termination of this license, you must destroy any downloaded materials in your possession whether in electronic or printed format.

3. Disclaimer

The materials on BitSails's web site are provided "as is". BitSails makes no warranties, expressed or implied, and hereby disclaims and negates all other warranties, including without limitation, implied warranties or conditions of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other violation of rights. Further, BitSails does not warrant or make any representations concerning the accuracy, likely results, or reliability of the use of the materials on its Internet web site or otherwise relating to such materials or on any sites linked to this site. The software is under development and considered in alpha stage. We are not responsible for any loss this may cause to users.

4. Limitations

In no event shall BitSails or its suppliers be liable for any damages (including, without limitation, damages for loss of data or profit, or due to business interruption,) arising out of the use or inability to use the materials on BitSails's Internet site, even if BitSails or a BitSails authorized representative has been notified orally or in writing of the possibility of such damage. Because some jurisdictions do not allow limitations on implied warranties, or limitations of liability for consequential or incidental damages, these limitations may not apply to you.

5. Revisions and Errata

The materials appearing on BitSails's web site could include technical, typographical, or photographic errors. BitSails does not warrant that any of the materials on its web site are accurate, complete, or current. BitSails may make changes to the materials contained on its web site at any time without notice. BitSails does not, however, make any commitment to update the materials.

6. Links

BitSails has not reviewed all of the sites linked to its Internet web site and is not responsible for the contents of any such linked site. The inclusion of any link does not imply endorsement by BitSails of the site. Use of any such linked web site is at the user's own risk.

7. Site Terms of Use Modifications

BitSails may revise these terms of use for its web site at any time without notice. By using this web site you are agreeing to be bound by the then current version of these Terms and Conditions of Use.

8. Governing Law

Any claim relating to BitSails's web site shall be governed by the laws of the European Union without regard to its conflict of law provisions.

9. Currencies

Currencies are listed at the discretion of BitSails and can be removed at any time. If a currency is removed, you will have 14 days to withdrawal your funds if the blockchain allows for it. In no event shall we be liable for any loss, liability or cost whatsoever arising from any authorized or unauthorized transaction.

10. Markets

Markets are opened and closed at the discretion of BitSails. If a market is closed, all funds on all open orders are credited back to your account balances. In no event shall we be liable for any loss, liability or cost whatsoever arising from trades executed on any market. All executed trades on any market are final. There will be no refunds or cancelling of trades once they have been executed.

AML Policy

Anti-Money Laundering Policy (AML Policy)

Money laundering is the disguising of an illegal source of funds by converting it to cash or investments that are ostensibly legitimate.

General provisions

This Anti-money Laundering Policy (hereinafter referred to as "AML Policy") outlines the procedures and mechanisms used by BitSails.com for the purpose of preventing money laundering. BitSails.com adheres to the following policies:
  • not entering into business relationships with criminals and/or terrorists;
  • not processing transactions that are result from criminal and/or terrorist activities;
  • not facilitating any transactions related to criminal and/or terrorist activities;

Verification Procedures

BitSails.com shall establish its own procedures for determining compliance with the anti-money laundering standards and Know Your Customer (KYC) policy.

BitSails.com Customers complete a verification procedure (they must provide an identification document issued by the state: passport or an ID card). BitSails.com reserves the right to collect Customers' identification information for AML Policy purposes. This information is processed and stored strictly in accordance with the BitSails.com Privacy Policy.

BitSails.com may also request a second Customer identification document: a bank statement or utility bill no older than 3 months, which includes the Customer's full name and current address.

BitSails.com shall verify the authenticity of documents and information provided by Customers and reserves the right to request additional information on Customers who have been identified as dangerous or suspicious.

If the Customer's identification information has been changed or their activity appears suspicious, BitSails.com is entitled to request updated documents from the Customer, even if they have been authenticated in the past.

Anti-Money Laundering Officer

The Anti-Money Laundering Officer is a BitSails.com employee who is responsible for ensuring compliance with the AML Policy, such as:
  • collection of Customers' identity information;
  • establish and update internal policies and procedures for creating, reviewing, submitting and storing all reports required in accordance with existing laws and regulations;
  • transactions monitoring and analysis of any significant deviations from the Customers' usual activities;
  • the introduction of a records management system for storing and retrieving documents, files, forms and logs;
  • regularly update risk assessments.

An Anti-Money Laundering Officer has the right to engage with law enforcement agencies that deal with the prevention of money laundering, financing of terrorism and other illegal activities.

Transactions Monitoring

The monitoring of the Customer's transactions and the analysis of the obtained data is also a tool for risk assessment and the detection of suspicious transactions. If money laundering is suspected BitSails.com shall monitor all transactions and reserves the right to:
  • reporting of suspicious transactions to the relevant law enforcement agencies;
  • request the Customer to provide any additional information and documents;
  • suspend or terminate the Customer's Account.

The above list is not exhaustive. The AML Policy Compliance Officer monitors the Customers' transactions every day to determine whether to report them and treat them as suspicious.

Risk assessment

In accordance with international requirements, BitSails.com applies a risk-based approach tо anti-money laundering and financing of terrorism. Thus, measures aimed at the prevention of money laundering and financing of terrorism are commensurate with the identified risks, allowing resources to be effectively dedicated. Resources are used on a priority basis; the greatest attention is given to the greatest risks.

Privacy Policy

Your privacy is very important to us. Accordingly, we have developed this Policy in order for you to understand how we collect, use, communicate and disclose and make use of personal information. The following outlines our privacy policy.

  • Before or at the time of collecting personal information, we will identify the purposes for which information is being collected.
  • We will collect and use of personal information solely with the objective of fulfilling those purposes specified by us and for other compatible purposes, unless we obtain the consent of the individual concerned or as required by law.
  • We will only retain personal information as long as necessary for the fulfillment of those purposes.
  • We will collect personal information by lawful and fair means and, where appropriate, with the knowledge or consent of the individual concerned.
  • Personal data should be relevant to the purposes for which it is to be used, and, to the extent necessary for those purposes, should be accurate, complete, and up-to-date.
  • We will protect personal information by reasonable security safeguards against loss or theft, as well as unauthorized access, disclosure, copying, use or modification.
  • We will make readily available to customers information about our policies and practices relating to the management of personal information.

We are committed to conducting our business in accordance with these principles in order to ensure that the confidentiality of personal information is protected and maintained.