This is a contract between you and:
DAX Malta, Ltd (“DAX Malta”), a private limited company incorporated in Malta with company number 87063 and whose registered office is 66 Old Bakery St, Valletta, Malta. References in this Agreement to “DAX”, “DRIVE” “we”, “our”or “us”, are to DAX Malta Ltd, and references to “you”or “your”are to the person with whom DAX enters into this Agreement.
You should be aware that the risk of loss in trading or holding Digital Currencies, commonly known as Cryptocurrencies, can be substantial. Digital Currency Services may not be regulated in your jurisdiction. You should therefore carefully consider whether trading or holding digital currencies is suitable for you in light of your financial condition.
1. DRIVE services
1.1. Eligibility. To be eligible to use the DRIVE Services, you must be at least 18 years old.
1.2. Digital Currency Services. The following services (the “Digital Currency Services”) are provided to you by DAX Malta, Ltd:
One or more hosted digital currency wallets enabling you to store, track, transfer, and manage your balances of certain supported digital currencies, like Bitcoin or Ethereum (the “Digital Currency Wallet”and “Digital Currency”respectively);A Digital Currency exchange service enabling you to obtain prices for your purchases and sales of Digital Currencies (a “DC Exchange”);
A Digital Currency conversion service enabling you to buy and sell Digital Currencies in transactions with DAX Malta (the “Conversion Services”).
Digital Currency Services are regulated by the MFSA. DAX Malta, Ltd is a regulated financial services provider. DAX Malta is based in, and provides its services from, Malta.
1.3. Additional DRIVE Services. In addition to the core services, additional services may be made available by DAX Malta, Ltd to users that fulfil certain eligibility criteria.
1.4. Fees: A full list of DRIVE fees can be found in our Knowledge Base, at https://drivemarkets.com/support.
2. DRIVE accounts and access
2.2. Identity Verification. You agree to provide us with the information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information. You may need to complete certain verification procedures before you are permitted to use the DRIVE Services and and the limits that apply to your use of the DRIVE Services, may be altered as a result of information collected on an ongoing basis.
The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number). In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic.
You agree to keep us updated if any of the information you provide changes. You authorise us to make the inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. This is an identity check only and should have no adverse effect on your credit rating.
Additionally, we may require you to wait some amount of time after completion of a transaction, before permitting you to use further DRIVE Services and/or before permitting you to engage in transactions beyond certain volume limits.
2.3 Access. To access the DRIVE Services, you must have the necessary equipment (such as a smartphone or tablet) and the associated telecommunication service subscriptions to access the Internet. The DRIVE Services can be accessed directly using the DRIVE Site.
3. Digital currency services
3.1. In General. Your Digital Currency Wallet enables you to send Digital Currency to, and request, receive, and store Digital Currency from, third parties by giving instructions through the DRIVE Site (each such transaction is a “Digital Currency Transaction”).
3.2. Digital Currency Transactions. We will process Digital Currency Transactions in accordance with the instructions we receive from you. You should verify all transaction information prior to submitting instructions to us. We do not guarantee the identity of any user, receiver, requestor or other party. Digital Currency Transactions cannot be reversed once they have been broadcast to the relevant Digital Currency network.
Once submitted to a Digital Currency network, a Digital Currency Transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the Digital Currency network. A Digital Currency Transaction is not complete while it is in a pending state. Digital Currency associated with Digital Currency Transactions that are in a pending state will be designated accordingly, and will not be included in your Digital Currency Wallet balance or be available to conduct Digital Currency Transactions.
We may charge network fees (miner fees) to process a Digital Currency Transaction on your behalf. We will calculate the network fee in its discretion, although we will always notify you of the network fee at or before the time you authorise the Digital Currency Transaction. A full list of DRIVE fees can be found on our Knowledge Base at https://drivemarkets.com/support.
We may refuse to process or cancel any pending Digital Currency Transaction as required by law or any court or other authority to which DRIVE is subject in any jurisdiction.
3.3. Supported Digital Currencies. Our Digital Currency Services are available only in connection with those digital currencies that DRIVE supports, and this may change from time to time. Under no circumstances should you attempt to use your Digital Currency Wallet to store, send, request, or receive digital currencies in any form that we do not support. We assume no responsibility or liability in connection with any attempt to use your Digital Currency Wallet for digital currencies that we do not support.
If you have any questions about which Digital Currencies we currently support, please visit our Knowledge Base at https://drivemarkets.com/support.
3.4. Digital Currency Storage & Transmission Delays. We securely store Digital Currency private keys, which are the means by which you can securely approve a Digital Currency Transaction. We securely store private keys in our control in a combination of online and offline storage. As a result, it may be necessary for us to retrieve certain information from offline storage in order to facilitate a Digital Currency Transaction in accordance with your instructions, and you acknowledge that this may delay the initiation or crediting of such Digital Currency Transaction.
3.5. Third Party Payments. We have no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or sell to or from a third party. We are not responsible for ensuring that a third party buyer or a seller you transact with will complete the transaction or is authorised to do so. If you experience a problem with any goods or services purchased from, or sold to, a third party using Digital Currency transferred using the DRIVE Digital Currency Services, or if you have a dispute with such third party, you should resolve the dispute directly with that third party. If you believe a third party has behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot adequately resolve a dispute with a third party, you may notify DRIVE Support at [email protected] so that we may consider what action to take, if any.
3.6. Operation of Digital Currency Protocols. We do not own or control the underlying software protocols which govern the operation of Digital Currencies supported on our platform: generally, the underlying protocols are open source and anyone can use, copy, modify, and distribute them. We assume no responsibility for the operation of the underlying protocols and we are not able to guarantee their functionality, security, or availability.
You acknowledge and accept the risk that underlying software protocols relating to any Digital Currency you store in your Digital Currency Wallet may change.
In particular, the underlying protocols are likely to be subject to sudden changes in operating rules (“forks”), and such forks may materially affect the value, function, and/or the name of the Digital Currency you store in your Digital Currency Wallet. Where possible, we may provide you with notices or alerts on forks in accordance with Section 11.11 (Contact Information) below and you must read such notices or alerts received from us in order that you may consider how to deal with upcoming forks. However, it is your responsibility to make yourself aware of, and consider how to deal with, upcoming forks. In the event of a fork, there is a risk that we may need to temporarily suspend operations in relation to that fork without providing advance notice to you. We may, in our reasonable discretion, decline to support either or both branches of a fork.
You acknowledge the risks presented by forks and you accept that we have no responsibility to assist you to move or sell an unsupported branch of a forked protocol.
4. Transaction limits and enhanced due diligence
4.1. Transactions Limits. The use of all DRIVE Services is subject to a limit on the amount of volume, you may transact or transfer in a given period (e.g., daily). Your transaction limits may vary depending on your payment method, verification steps you have completed, and other factors. We reserve the right to change applicable limits as we deem necessary. If you wish to raise your limits beyond the posted amounts, you may submit a request to [email protected]
4.2 Enhanced Due Diligence. We may require you to submit additional information about yourself or your business, provide records, and arrange for meetings with DRIVE staff (such process, “Enhanced Due Diligence”). We reserve the right to charge you costs and fees associated with such Enhanced Due Diligence although if we intend to do so, we will notify you in advance. In our discretion, we may refuse to raise your limits or we may lower your limits at a subsequent time even if you have completed Enhanced Due Diligence.
5. Suspension, termination and cancellation
5.1 Suspension, Termination, and Cancellation. We may: (a) refuse to complete or block, cancel or reverse a transaction you have authorised (b) suspend, restrict, or terminate your access to any or all of the DRIVE Services, and/or (c) deactivate or cancel your DRIVE Account with immediate effect for any reason, including but not limited to where:
We are, in our reasonable opinion, required to do so by applicable law or any court or other authority to which we are subject in any jurisdiction;
We reasonably suspect you of acting in breach of this Agreement;
We have concerns that a transaction is erroneous or about the security of your DRIVE Account or we suspect the DRIVE Services are being used in a fraudulent or unauthorised manner;
We suspect money laundering, terrorist financing, fraud, or any other financial crime;
Use of your DRIVE Account is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your Account activity; and / or
You take any action that may circumvent our controls such as opening multiple DRIVE Accounts or abusing promotions which we may offer from time to time.
If we refuse to complete a transaction and / or suspend or close your DRIVE Account, or terminate your use of DRIVE Services in this way, we will (unless it would be unlawful for us to do so) provide you with notice of our actions and the reasons for refusal, suspension or closure and where appropriate, with the procedure for correcting any factual errors that led to the refusal, suspension or closure. In the event that we refuse to complete a transaction and / or suspend your DRIVE Account we will lift the suspension as soon as reasonably practicable once the reasons for refusal and / or suspension no longer exist. However, we are under no obligation to allow you to reinstate a transaction at the same price or on the same terms as the suspended, reversed or cancelled transaction.
We may suspend, restrict, or terminate your access to any or all of the DRIVE Services and/or deactivate or cancel your DRIVE Account, without reason by giving you two weeks notice. You acknowledge that our decision to take certain actions, including limiting access to, suspending, or closing your DRIVE Account, may be based on confidential criteria that are essential to our risk management and security protocols. You agree that we are under no obligation to disclose the details of its risk management and security procedures to you.
If we suspend or close your account, or terminate your use of DRIVE Services for any reason, we reserve the right to require you to complete the procedures outlined at Section 2.2. (Identity Verification) before permitting you to transfer or withdraw Digital Currency.
You may cancel your DRIVE Account at any time by withdrawing all balances and contacting [email protected] You will not be charged for cancelling your DRIVE Account, although you will be required to pay any outstanding amounts owed to us. You authorise us to cancel or suspend any pending transactions at the time of cancellation.
6.1. Release of DAX Malta If you have a dispute with one or more users of the DRIVE Services, you agree that neither we nor our affiliates or service providers, nor any of our respective officers, directors, agents, joint venturers, employees and representatives will be liable for any claims, demands and damages (actual and consequential) of any kind or nature arising out of or in any way connected with such disputes.
6.2. Indemnification. You agree to indemnify us, our affiliates and service providers, and each of our or their respective officers, directors, agents, employees and representatives, in respect of any costs (including attorneys’ fees and any fines, fees or penalties imposed by any regulatory authority) that have been reasonably incurred in connection with any claims, demands or damages arising out of or related to your breach and / or our enforcement of this Agreement (including without limitation your breach of our Behaviour Policy or our Policy on Prohibited Use, Prohibited Businesses and Conditional Use) or your violation of any law, rule or regulation, or the rights of any third party.
6.3. Limitations of Liability. We shall only be liable to you for loss or damage caused directly and reasonably foreseeable by our breach of this Agreement and our liability in these circumstances is limited as set out in the remainder of this section.
(For the avoidance of doubt the term “loss”includes a partial loss or reduction in value as well as a complete or total loss.)
6.3. A. Liability cap. Except as otherwise provided for in this Agreement, neither we, nor our affiliates or service providers, nor any of our or their respective officers, directors, agents, employees or representatives, will be liable for any amount greater than the value of the Digital Currency on deposit in your DRIVE Wallets at any given time. Where we are considering a specific claim relating to a specific transaction this sum shall be further limited to the amount of the transaction in dispute.
6.3. B. Limitation of loss. In addition to the liability cap at Section 8.3.A. above, in no event shall we, our affiliates or service providers, or any of our or their respective officers, directors, agents, employees or representatives, be liable for any of the following types of loss or damage arising under or in connection with this Agreement or otherwise:
(i) any loss of profits or loss of expected revenue or gains, including any loss of anticipated trading profits and / or any actual or hypothetical trading losses, even if we are advised of or knew or should have known of the possibility of the same. This means, by way of example only (and without limiting the scope of the preceding sentence), that if you claim that we failed to process a buy or sell transaction properly, your damages are limited to no more than the value of the supported Digital Currency at issue in the transaction, and that you may not recover for any “loss”of anticipated trading profits or for any actual trading losses made as a result of the failure to buy or sell.
(ii) any loss of or damage to reputation or goodwill; any loss of business or opportunity, customers or contracts; any loss or waste of overheads, management or other staff time; or any other loss of revenue or actual or anticipated savings, even if we are advised of or knew or should have known of the possibility of the same;
(iii) any loss of use of hardware, software or data and / or any corruption of data; including but not limited to any losses or damages arising out of or relating to any inaccuracy, defect or omission of digital currency price data; any error or delay in the transmission of such data; and / or any interruption in any such data;
(iv) any loss or damage whatsoever which does not stem directly from our breach of this Agreement; and / or
(v) any loss or damage whatsoever which is in excess of that which was caused as a direct result of our breach of this Agreement (whether or not you are able to prove such loss or damage).
6.3.** C. Applicable law.** The limitation of liability in this Section 8.3 is subject to any obligations that we have under applicable law and regulation, including our obligation to exercise reasonable care and skill in our provision of the DRIVE Services. Nothing in this Agreement shall limit our liability resulting from our fraud or fraudulent misrepresentation, gross negligence, deliberate misconduct, for death or personal injury resulting from either our or our subcontractor’s negligence.
6.4. No Warranties. The DRIVE services are provided on an “as is”and “as available”basis without any representation or warranty, whether express or implied, to the maximum extent permitted by applicable law: specifically we disclaim any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement. We do not make any representations or warranties that access to the DRIVE Site, any of the DRIVE Services, or any of the materials contained therein, will be continuous, uninterrupted, timely, or error-free.
We make no representations about the accuracy or completeness of historical Digital Currency price data available on any of the DRIVE Sites. We will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards, and cheque issuances are processed in a timely manner but we make no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control.
6.5. Safety and Security of Your Computer and Devices. DAX Malta Ltd is not liable for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from us. DRIVE customer support will never ask to screen share or otherwise seek to access your computer or account; similarly, we will not ask for your two factor authentication codes. Always log into your DRIVE Account through the DRIVE Site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
6.6. No Liability for Breach. We are not liable for any breach of the Agreement where the breach is due to abnormal and unforeseeable circumstances beyond our control, the consequences of which would have been unavoidable despite all effects to the contrary, nor are we liable where the breach is due to the application of mandatory legal rules.
7. Customer questions and dispute resolution
7.1. Contact DAX Malta. If you have any feedback, questions, or complaints, contact us at [email protected]
When you contact us please provide us with your name, address, and any other information we may need to identify you, your DRIVE Account, and the transaction on which you have feedback, questions, or complaints.
7.2. Complaints. In the event of a complaint, please set out the cause of your complaint, how you would like us to resolve the complaint and any other information you believe to be relevant. We will acknowledge receipt of your complaint and a Customer Complaints officer (“Officer”) will consider your complaint. The Officer will consider your complaint without prejudice based on the information you have provided and any information provided by DAX Malta. Within 15 business days of our receipt of your complaint the Officer will address all points raised in your complaint by sending you an e-mail (“Resolution Notice”) in which the Officer will: (i) offer to resolve your complaint in the way your requested; (ii) make a determination rejecting your complaint and set out the reasons for the rejection; or (iii) offer to resolve your complaint with an alternative solution. In exceptional circumstances, if the Officer is unable to respond to your complaint within 15 business days for reasons beyond our control, the Officer will send you a holding reply indicating the reasons for a delay in answering your complaint and specifying the deadline by which the Officer will respond to your complaint (which will be no later than 35 business days from our receipt of your complaint.
7.3. Offers. Any offer of resolution made to you will only become binding on us if accepted by you. An offer of resolution will not constitute any admission by us of any wrongdoing or liability regarding the subject matter of the complaint.
7.4. Arbitration. ** Any dispute exceeding EUR 5,500 arising out of or in connection with this Agreement (a “Dispute”) shall be referred to and finally resolved by arbitration under the Arbitration Rules of Malta, which are deemed to be incorporated by reference into this Section. The language to be used in the arbitration proceedings will be English. Any award of the tribunal shall be binding from the day it is made, and the parties hereby waive any right to refer any question of law and any right of appeal on the law and/or merits to any court. Judgment on the award rendered by the tribunal may be entered in any court of competent jurisdiction.
The parties agree to keep confidential all matters relating to the arbitration, including related court proceedings, to the greatest extent practicable. For purposes of this arbitration provision, references to the parties also include respective subsidiaries, affiliates, agents, employees, predecessors, successors and assigns as well as authorised Users or beneficiaries of the DRIVE Services. Nothing in this Section 9.5 (Arbitration) shall be construed as preventing either party from seeking conservatory or similar interim relief in any court of competent jurisdiction. If any provision of this Section 9.5 (Arbitration) is found unenforceable, the unenforceable provision will be severed and the remaining arbitration terms will be enforced.
7.5. Claims. You agree to use the complaints procedure set out at Section 7.2 of this Agreement. If you do not follow the procedures set out in this Section 7 before filing a claim in a court, we shall have the right to ask the court to dismiss your filing unless and until you complete the steps outlined above.
8. Data protection
8.1. Personal Data. You acknowledge that we may process personal data in relation to you (if you are an individual), and personal data that you have provided or in the future provide to us in relation to your employees and other associated or other individuals, in connection with this Agreement, or the DRIVE Services. Accordingly, you represent and warrant that:
your disclosure to us of any personal data relating to individuals other than yourself was or will be made in accordance with all applicable data protection and data privacy laws, and those data are accurate, up to date and relevant when disclosed;
9. General terms and conditions
9.1. Limited License. We grant you a limited, non-exclusive, non-transferable license, subject to the terms of this Agreement, to access and use the DRIVE Site, and related content, materials, information (collectively, the “Content”) solely for approved purposes as permitted by us from time to time. Any other use of the DRIVE Site or Content is expressly prohibited and all other right, title, and interest in the DRIVE Site or Content is exclusively the property of DAX and its licensors. You agree not to copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the Content, in whole or in part. “DRIVEmarkets.com”, “DRIVE” and all logos related to the DRIVE Services or displayed on the DRIVE Site are trademarks or registered marks of DAX or its licensors. You may not copy, imitate or use them without our prior written consent.
9.2. Website Accuracy. Although we intend to provide accurate and timely information on the DRIVE Site, the DRIVE Site (including, without limitation, the Content) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may, to the extent permitted by applicable law, be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the DRIVE Site are your sole responsibility and we shall have no liability for such decisions. Links to third-party materials (including without limitation websites) may be provided as a convenience but are not controlled by us. You acknowledge and agree that we are not responsible for any aspect of the information, content, or services contained in any third-party materials or on any third party sites accessible or linked to the DRIVE Site.
9.3. Third-Party Applications. In order to access DRIVE Services, users are required to provide an email address and create a password. DRIVE offers second factor authentication via a user’s mobile device (Short Message Service, SMS, or a supported Time-based One Time Password, TOTP, application). A verified phone number is required to enable second factor authentication via SMS. Users are responsible for keeping electronic devices through which DRIVE Services is accessed safe and maintaining adequate security and control of any and all security details that are used to access the DRIVE Services. This includes taking all reasonable steps to avoid the loss, theft or misuse of said electronic devices and ensuring that said electronic devices are password protected. Any loss or compromise of personal electronic devices or security details may result in unauthorised access of a user’s DRIVE Account by third-parties and the loss or theft of any Digital Currency held in your DRIVE Account and the misuse of any associated accounts, including linked bank account(s) and credit/debit card(s). Users must keep security details safe at all times. For example, passwords and TOTP authentication seeds be safeguarded and not shared or made visible to others. DRIVE strongly recommends the use of password and second factor protected password managers to safeguard login credentials.
9.4. Export Controls & Sanctions. Your use of the DRIVE Services and the DRIVE Site is subject to international export controls and economic sanctions requirements. By sending, receiving, buying, selling, trading or storing Digital Currency through the DRIVE Site or DRIVE Services, you agree that you will comply with those requirements. You are not permitted to acquire Digital Currency or use any of the DRIVE Services through the DRIVE Site if: (1) you are in, under the control of, or a national or resident of Cuba, Iran, North Korea, Sudan, or Syria or any other country subject to United States embargo, UN sanctions, HM Treasury’s financial sanctions regime (a “Sanctioned Country”), or if you are a person on the U.S. Treasury Department’s Specially Designated Nationals List or the U.S. Commerce Department’s Denied Persons List, Unverified List, Entity List, or the HM Treasury’s financial sanctions regime (a “Sanctioned Person”); or (2) you intend to supply any acquired or stored Digital Currency or DRIVE Services to a Sanctioned Country (or a national or resident of a Sanctioned Country) or Sanctioned Person.
9.5. Amendments. We may make amendments to the Agreement by posting the revised Agreement on the DRIVE Site or by emailing it to you, indicating when the revised Agreement becomes effective. Although we will endeavour to provide you with advance notice where possible, where lawful we may indicate that the revised Agreement shall be effective immediately and if you do not agree with any such modification, you should close your DRIVE Account and cease using the DRIVE Services.
Copies of the most up-to-date version of the Agreement will be made available in the DRIVE Site at all times and will be provided to you by email on your request.
9.6. Relationship of the Parties. Nothing in this Agreement shall be deemed or is intended to be deemed, nor shall it cause, either you or DRIVE to be treated as the agent of the other.
9.7. Privacy of Others; Marketing. If you receive information about another user through the DRIVE Services, you must keep the information confidential and only use it in connection with the DRIVE Services. You may not disclose or distribute a user’s information to a third party or use the information except as reasonably necessary to effect a transaction and other functions reasonably incidental thereto such as support, reconciliation and accounting unless you receive the user’s express consent to do so. You may not send unsolicited email to a user through the DRIVE Services.
9.8. Password Security. In order to access DRIVE Services you will be required to create or be given security details, including a username and password. You are responsible for keeping the electronic device through which you access DRIVE Services safe and maintaining adequate security and control of any and all security details that you use to access the DRIVE Services. This includes taking all reasonable steps to avoid the loss, theft or misuse of such electronic device and ensuring that such electronic device is encrypted and password protected. Any loss or compromise of your electronic device or your security details may result in unauthorised access to your DRIVE Account by third-parties and the loss or theft of any Digital Currency held in your DRIVE Account and any associated accounts, including your linked bank account(s). You must keep your security details safe at all times. For example, you should not write them down or otherwise make them visible to others.
9.9. Security Breach. If you suspect that your DRIVE Account or any of your security details have been compromised or if you become aware of any fraud or attempted fraud or any other security incident (including a cyber-security attack) affecting you and / or DRIVE (together a “Security Breach”), you must notify DRIVE Support as soon as possible by email at [email protected] and continue to provide accurate and up to date information throughout the duration of the Security Breach. You must take any steps that we reasonably require to reduce, manage or report any Security Breach. Failure to provide prompt notification of any Security Breach may be taken into account in our determination of the appropriate resolution of the matter.
9.10. Contact Information. You are responsible for keeping your email address up to date in your Account Profile in order to receive any notices or alerts that we may send you (including notices or alerts of actual or suspected Security Breach).
9.11. Taxes. It is your responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the DRIVE Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Your transaction history is available through your DRIVE Account.
9.12. Unclaimed Property. If we hold Digital Currency, and we are unable to contact you and have no record of your use of the DRIVE Services for several years, applicable law may require us to report the Digital Currency as unclaimed property to the authorities in certain jurisdictions. We reserve the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
9.13. Entire Agreement. This Agreement (including documents incorporated by reference herein) comprise the entire agreement between you and DRIVE.
9.14. Interpretation. Section headings in this Agreement are for convenience only, and shall not govern the meaning or interpretation of any provision of this Agreement.
9.15. Transfer. This Agreement is personal to you and you cannot transfer or assign your rights, licenses, interests and/or obligations to anyone else. We may transfer or assign our rights licenses, interests and / or our obligations at any time, including as part of a merger, acquisition or other corporate reorganisation involving DRIVE, provided that this transfer or assignment does not materially impact the quality of the DRIVE Services you receive.
9.16. Invalidity. If any provision of this Agreement is determined to be invalid or unenforceable under any applicable law, this will not affect the validity of any other provision.
9.17. Enforcement of Our Rights. We may not always strictly enforce our rights under this Agreement. If we do this, it will be just a temporary measure and we may enforce our rights strictly again at any time.
9.18. Language. This Agreement and any information or notifications that you or we are to provide should be in English. Any translation of this Agreement or other documents is provided for your convenience only. In the event of any inconsistency, the English language version of this Agreement or other documents shall prevail.
9.19. Survival. All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, the sections relating to suspension or termination, DRIVE Account cancellation, debts owed to DRIVE, general use of the DRIVE Site, disputes with DRIVE, and general provisions, will continue to be binding and operate after the termination or expiration of this Agreement.
9.20 Governing Law and jurisdiction.This Agreement will be governed by Malta law and the non-exclusive jurisdiction of the Maltese courts.
APPENDIX 1: PROHIBITED USE, PROHIBITED BUSINESSES AND CONDITIONAL USE
You may not use your DRIVE Account to engage in the following categories of activity (“Prohibited Uses”). The specific types of use listed below are representative, but not exhaustive. If you are uncertain as to whether or not your use of DRIVE Services involves a Prohibited Use, or have questions about how these requirements apply to you, please contact us at [email protected] By opening a DRIVE Account, you confirm that you will not use your Account to do any of the following:
Unlawful Activity: Activity which would violate, or assist in violation of, any law, statute, ordinance, or regulation, sanctions programs administered in the countries where DRIVE conducts business, including but not limited to the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), or which would involve proceeds of any unlawful activity; publish, distribute or disseminate any unlawful material or information
Abusive Activity: Actions which impose an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information; transmit or upload any material to the DRIVE Site that contains viruses, trojan horses, worms, or any other harmful or deleterious programs; attempt to gain unauthorized access to the DRIVE Site, other DRIVE Accounts, computer systems or networks connected to the DRIVE Site, through password mining or any other means; use DRIVE Account information of another party to access or use the DRIVE Site, except in the case of specific Merchants and/or applications which are specifically authorized by a user to access such user’s DRIVE Account and information; or transfer your account access or rights to your account to a third party, unless by operation of law or with the express permission of DRIVE
Abuse Other Users: Interfere with another individual’s or entity’s access to or use of any DRIVE Services; defame, abuse, extort, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others; incite, threaten, facilitate, promote, or encourage hate, racial intolerance, or violent acts against others; harvest or otherwise collect information from the DRIVE Site about others, including without limitation email addresses, without proper consent
Fraud: Activity which operates to defraud DRIVE, DRIVE users, or any other person; provide any false, inaccurate, or misleading information to DRIVE
Gambling: Lotteries; bidding fee auctions; sports forecasting or odds making; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; games of chance
Intellectual Property Infringement: Engage in transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law, including but not limited to sales, distribution, or access to counterfeit music, movies, software, or other licensed materials without the appropriate authorization from the rights holder; use of DRIVE intellectual property, name, or logo, including use of DRIVE trade or service marks, without express consent from DRIVE or in a manner that otherwise harms DRIVE or the DRIVE brand; any action that implies an untrue endorsement by or affiliation with DRIVE
In addition to the Prohibited Uses described above, the following categories of businesses, business practices, and sale items are barred from DRIVE Services (“Prohibited Businesses”). Most Prohibited Businesses categories are imposed by Card Network rules or the requirements of our banking providers or processors. The specific types of use listed below are representative, but not exhaustive. If you are uncertain as to whether or not your use of DRIVE Services involves a Prohibited Business, or have questions about how these requirements apply to you, please contact us at [email protected]
By opening a DRIVE Account, you confirm that you will not use DRIVE Services in connection with any of following businesses, activities, practices, or items:
Investment and Credit Services: Securities brokers; mortgage consulting or debt reduction services; credit counseling or repair; real estate opportunities; investment schemes
Restricted Financial Services: Check cashing, bail bonds; collections agencies.
Intellectual Property or Proprietary Rights Infringement: Sales, distribution, or access to counterfeit music, movies, software, or other licensed materials without the appropriate authorization from the rights holder
Counterfeit or Unauthorized Goods: Unauthorized sale or resale of brand name or designer products or services; sale of goods or services that are illegally imported or exported or which are stolen
Regulated Products and Services: Marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age restricted goods or services; weapons and munitions; gunpowder and other explosives; fireworks and related goods; toxic, flammable, and radioactive materials
Drugs and Drug Paraphernalia: Sale of narcotics, controlled substances, and any equipment designed for making or using drugs, such as bongs, vaporizers, and hookahs
Pseudo-Pharmaceuticals: Pharmaceuticals and other products that make health claims that have not been approved or verified by the applicable local and/or national regulatory body
Substances designed to mimic illegal drugs: Sale of a legal substance that provides the same effect as an illegal drug (e.g., salvia, kratom)
Adult Content and Services: Pornography and other obscene materials (including literature, imagery and other media); sites offering any sexually-related services such as prostitution, escorts, pay-per view, adult live chat features
Multi-level Marketing: Pyramid schemes, network marketing, and referral marketing programs
Unfair, predatory or deceptive practices: Investment opportunities or other services that promise high rewards; Sale or resale of a service without added benefit to the buyer; resale of government offerings without authorization or added value; sites that we determine in our sole discretion to be unfair, deceptive, or predatory towards consumers
High risk businesses: any businesses that we believe poses elevated financial risk, legal liability, or violates card network or bank policies
Express written consent and approval from DRIVE must be obtained prior to using DRIVE Services for the following categories of business and/or use (“Conditional Uses”). Consent may be requested by contacting us at https://support.DRIVE.com. DRIVE may also require you to agree to additional conditions, make supplemental representations and warranties, complete enhanced on-boarding procedures, and operate subject to restrictions if you use DRIVE Services in connection with any of following businesses, activities, or practices:
Money Services: Money transmitters, Digital Currency transmitters; currency or Digital Currency exchanges or dealers; gift cards; prepaid cards; sale of in-game currency unless the merchant is the operator of the virtual world; act as a payment intermediary or aggregator or otherwise resell any of the DRIVE Services
Charities: Acceptance of donations for nonprofit enterprise
Games of Skill: Games which are not defined as gambling under this Agreement or by law, but which require an entry fee and award a prize
Religious/Spiritual Organizations : Operation of a for-profit religious or spiritual organization
APPENDIX 2: VERIFICATION PROCEDURES AND LIMITS
DRIVE uses multi-level systems and procedures to collect and verify information about you in order to protect DRIVE and the community from fraudulent users, and to keep appropriate records of DRIVE’s customers. Your access to one or more DRIVE Services, and limits including daily or weekly withdrawal and trading limits may be based on the identifying information and/or proof of identity you provide to DRIVE.
DRIVE may require you to provide or verify additional information, or to wait some amount of time after completion of a transaction, before permitting you to use any DRIVE Services and/or before permitting you to engage in transactions beyond certain volume limits. You may determine the volume limits associated with your level of identity verification by visiting your account’s Limits page.
You may submit a request to succes[email protected] to request larger limits. DRIVE will require you to submit to Enhanced Due Diligence. Additional fees and costs may apply, and DRIVE does not guarantee that we will raise your limits.
APPENDIX 3: E-SIGN DISCLOSURE AND CONSENT
This policy describes how DRIVE delivers communications to you electronically. We may amend this policy at any time by providing a revised version on our website. The revised version will be effective at the time we post it. We will provide you with prior notice of any material changes via our website.
Electronic Delivery of Communications
You agree and consent to receive electronically all communications, agreements, documents, notices and disclosures (collectively, “Communications”) that we provide in connection with your DRIVE Account and your use of DRIVE Services. Communications include but are not limited to:
Account details, history, transaction receipts, confirmations, and any other Account or transaction information;
Legal, regulatory, and tax disclosures or statements we may be required to make available to you; and
Responses to claims or customer support inquiries filed in connection with your Account.\
We will provide these Communications to you by posting them on the DRIVE website, emailing them to you at the primary email address listed in your DRIVE profile, communicating to you via instant chat, and/or through other electronic communication such as text message or mobile push notification.
Hardware and Software Requirements
In order to access and retain electronic Communications, you will need the following computer hardware and software:
A device with an Internet connection;
A current web browser that includes 128-bit encryption (e.g. Internet Explorer version 9.0 and above, Firefox version 3.6 and above, Chrome version 31.0 and above, or Safari 7.0 and above) with cookies enabled;
A valid email address (your primary email address on file with DRIVE); and
Sufficient storage space to save past Communications or an installed printer to print them.
How to Withdraw Your Consent
You may withdraw your consent to receive Communications electronically by contacting us at [email protected] If you fail to provide or if you withdraw your consent to receive Communications electronically, DRIVE reserves the right to immediately close your Account or charge you additional fees for paper copies.
Updating your Information
It is your responsibility to provide us with a true, accurate and complete e-mail address and your contact information, and to keep such information up to date. You understand and agree that if DRIVE sends you an electronic Communication but you do not receive it because your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, DRIVE will be deemed to have provided the Communication to you.
You may update your information by logging into your account and visiting settings or by contacting our support team at [email protected]
APPENDIX 4: DEVELOPER’S TOOLS LICENSE.
1.1. Developer’s Tools. This Agreement governs your use of any and all development applications provided by DRIVE, including, but not limited to DRIVE’s application programming interface and any accompanying or related documentation, source code, executable applications and other materials (the “DRIVE API”), the DRIVE Sandbox and any other resources or services available (“DRIVE Services”) provided to you pursuant to this Agreement (collectively, the “Developer’s Tools”). Use of the Developer’s Tools is subject to this Part 4 and is also subject to General Use terms, including without limitation the releases, indemnities, disclaimers, limitations of liability, prohibited use, dispute resolution, and cancellation policies set forth above.
1.2. License Grant. Subject to the terms and restrictions set forth in this Agreement, DRIVE grants you a limited, revocable, non-exclusive, non-transferrable and non-sublicensable license solely to use and integrate the Developer’s Tools and underlying content into your website or application (your “Application”) so that your Application can interface directly with DRIVE devices, applications, or services.
1.3. Restrictions and Responsibilities. By using the Developer’s Tools, you agree to the following terms:
1.3.1. You shall:
(1) Register for a DRIVE Account.
(3) Comply with all applicable laws, regulations, licensing requirements, and third party rights (including, without limitation, data privacy laws).
(4) Represent and warrant that your Application, including but not limited to the name of the Application and all content in your Application, does not infringe the Intellectual Property rights of DRIVE or any third party.
(6) Use the DRIVE Marks only as expressly authorized in this Agreement.
(7) Obtain prior written approval from DRIVE prior to releasing any statements, written media releases, public announcements and public disclosures, including promotional or marketing materials, relating to DRIVE, the DRIVE Marks, or this Agreement.
(8) Comply with additional verification procedures in the event that your Application seeks OAuth permissions to transfer Digital Currency in an amount greater than predefined limits.
(9) Take steps to adequately secure your API Keys and OAuth Tokens.
1.3.2. You shall not:
(1) Copy, rent, lease, sell, sublicense, or otherwise transfer your rights in the Developer’s Tools to a third party.
(2) Alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the Developer’s Tools.
(3) Cache, aggregate, or store data or content accessed via the Developer’s Tools other than for purposes allowed under this Agreement.
(4) Use the Developer’s Tools for any Application that constitutes, promotes or is used in connection with spyware, adware, or any other malicious programs or code.
(5) Use the Developer’s Tools to encourage, promote, or participate in illegal activity, violate third party rights, including intellectual property rights or privacy rights, or engage in any Prohibited Use or Prohibited Business as defined in the Terms.
(6) Use the Developer’s Tools in a manner that exceeds reasonable request volume, constitutes excessive or abusive usage, or otherwise impacts the stability of DRIVE’s servers or impacts the behavior of other applications using the Developer’s Tools.
(7) Display Developer’s Tools or DRIVE Marks in a manner that could reasonably imply an endorsement, relationship or affiliation with or sponsorship between you or a third party and DRIVE, other than as expressly permitted in writing by DRIVE.
(8) Attempt to cloak or conceal your identity or your Application’s identity when requesting authorization to the Developer’s Tools.
To the maximum extent permitted by law, you agree to defend, indemnify and hold harmless DRIVE, its affiliates and their respective directors, officers, employees and agents from and against any and all third party claims, actions, suits or proceedings, as well as any and all losses, liabilities, damages, costs and expenses (including reasonable attorney’s fees) arising out of or accruing from (a) your use of the DRIVE API or your DRIVE Account in violation of this Agreement, (b) your Application that infringes any copyright, trademark, trade secret, trade dress, patent or other intellectual property right of any person or defames any person or violates their rights of publicity or privacy, or (c) your failure to secure and keep secret your OAuth Token(s) or API key(s).
2. Activities Subject to Additional Restrictions.
2.1. Activities Subject to Additional Restrictions. DRIVE may require you to obtain written consent and complete enhanced on-boarding procedures, and/or may restrict your Application if you would like to create/offer an Application which is designed for or results in any of the following:
2.1.1. Provide International Remittance Services. Any Application which involves a service that provides for: (i) an international (cross border) transfer of funds from a Sender to a Recipient, (ii) without an underlying sale or other bona fide commercial purpose for the transfer.
2.1.2. Provide Banking or Other Licensed Financial Services. Any Application which either holds money for eventual payment or which offers or provides credit, either directly or as a broker or arranger between third parties, or any Application that would require licensing as a bank, money services business, or other financial service provider, or as an escrow service in the jurisdiction where the service’s users reside, unless such Application falls within the definition of a Prohibited Business under the Terms.
2.1.3. Provide Gaming Services. Any Application which involves the payment of funds by a customer in exchange for the chance to earn or win a prize, reward, or other payment.
2.1.4. Provide Digital Currency Exchange Services. Any Application which involves a business engaged in the exchange of Digital Currency for Fiat Currency, or other Digital Currency and which accepts and transmits a Digital Currency or buys or sells Digital Currency for any reason.
2.1.5 Provide Donation Acceptance Services. Any Application which involves a service which allows for the acceptance of donations on behalf of a charity or other religious or spiritual organization.
3. Intellectual Property and Ownership; Use of Marks.
As between DRIVE and you, the Developer’s Tools, DRIVE Marks, and all intellectual property rights therein and thereto are and shall at all times remain the sole and exclusive property of DRIVE and are protected by applicable intellectual property laws and treaties. You have no rights with respect to Developer’s Tools or DRIVE Marks except as expressly set forth herein. If you obtain DRIVE’s prior written consent, you may use and display DRIVE’s name and logo (“DRIVE Marks”) solely to attribute the Developer’s Tools as the source of your Application.
4. API Calls and Compliance
DRIVE may set limits on the number of API calls that you can make at its sole discretion, for example in the interest of service stability. If you exceed these limits, DRIVE may moderate your activity or cease offering you access to the DRIVE APIs altogether in DRIVE’s sole discretion. You agree to such limitations and will not attempt to circumvent such limitations. DRIVE may immediately suspend or terminate your access to the Developer’s Tools without notice if DRIVE believes, in its sole discretion, that you are in violation of this Agreement or the Terms
5. Updates and Support DRIVE may elect to provide you with support or modifications for the Developer’s Tools, in its sole discretion, and may terminate such support at any time without notice. DRIVE may change, suspend, or discontinue any aspect of the Developer’s Tools at any time, including the availability of any Developer’s Tools.
6. Security and Privacy
6.1 Security. You will use all reasonable efforts to protect Customer Data (as defined below) collected by your Application, including without limitation any personally identifiable information (“PII”), from unauthorized access or use. In the event your systems or infrastructure that are used for storage, processing or hosting Customer Data are breached or compromised, or if Customer Data is inadvertently exposed to non-authorized third parties, you shall notify DRIVE promptly of such a breach or exposure including root cause, remediation steps, and compensating controls to ensure such a breach does not occur in the future. You are responsible for providing customer notification under the state breach notification statutes and any other applicable privacy laws and you will bear the costs incurred by DRIVE resulting from your breach or exposure. You acknowledge that you are solely responsible for any personal injury or property damage arising from or relating to your use of any Developer’s Tools or any authorized or unauthorized use of your Application.
6.3. Data Use. You will not sell any Customer Data or disclose any Customer Data to any third party. Your Application may use Customer Data only as required for use and access to your Application by the end user to whom such Customer Data relates. You shall not sublicense the Customer Data to any third party, and you shall not use or disclose any information derived directly or indirectly from the Customer Data for any purpose other than as set forth above. Without limiting the generality of the foregoing, you shall not use any part of the Customer Data to create a database separate from your Application or transmit all or part of the Customer Data to any third party for any use separate from your Application. Any use of Customer Data other than as expressly permitted by this Agreement is strictly prohibited.