The terms and conditions of use shown here(hereinafter referred to as the “Terms and Conditions”) set forth the terms between Gem Correspondent LLC(hereinafter referred to as the “Company”) and users(hereinafter referred to as the “User” or “Users” depending upon context) of any services on website and transactions of GCC tokens/coins(defined as below)
The following words and terms shall have the meanings set forth below when they are used in the Terms and Conditions
GCC tokens/coins mean tokens/coins which will be generated and distributed by Company and will be used for participating in the GCC trading platform which is developed by the Company based on blockchain technology integrating, participate gem trading platform.
Coin wallet means a secure digital wallet to send, receive and store GCC tokens/coins.
Users has the meaning given to it in Clause 6.1.
Website has the meaning given to it in Clause 3.1.
3. Agreement to Terms and Conditions
3.1. The Company should inform Users the Terms and Conditions by publishing pop-up on the Website.
3.2. All Users shall use the Service in accordance with the terms stated in the Terms and Conditions. Users may not use the Service unless they agree to the Terms and Conditions. Agreement is made by checking the “Accept” checkbox implemented through the interface when signing up for membership, or by implementing similar functions.
3.3. Users who agree to the Terms and Conditions is subject to the Terms and Conditions from the time they agree to the Terms and Conditions. By agreeing to the Terms and Conditions, you will periodically visit the Website to confirm the changes to the Terms.
4. Modification of the Terms Conditions
4. 1. The Company may modify the Terms and Conditions when the Company deems necessary.
4. 2.The Company shall notify the modified terms and conditions on the initial screen of website up to 14 days prior to enforcement(30 days prior to the change of the matters that are disadvantageous to the member).
4. 3. If User does not refuse to change the Terms and Conditions explicitly until the enforcement of modified terms or uses the Service after the modification of the Terms, the User is deemed to have agreed to the modification of the Terms
4. 4. If User does not agree to the modified terms, use of the Service may be restricted.
5. regulations of the matters not specified in the Terms and Conditions
The matters not specified in the Terms and Conditions and the interpretation of the Terms and Conditions shall be regulated by the relevant laws and general commercial practices.
6. Applying for the Service
6. 1. Users must comply with the Terms and Conditions on the website in the course of registering membership. Once Users agree with the Terms and Conditions, a service contract between the Users and the Company will be established.
6. 2. Users, when providing information about him/herself to the Company, shall provide genuine, accurate, and complete information while using the Service, and keep such information up-to-date at all times.
6. 3. When a corporation applies for the Service, the Company may require additional documents to be submitted.
6. 4. All the information Users provide during registering membership are considered true.
6. 5. Users who enter false information cannot get legal protection and can be restricted from using the Service. In this case the Company can take appropriate actions such as pause or permanent suspension of use or termination of a service contract.
7. Provision of the Service
7. 1. The provision of the Service provided by the Company are as follows
7. 1. 1. Distribution of GCC token/coins : GCC tokens/coins can only be purchased with Ethereum and are non-refundable.
7. 1. 2. Providing a coin wallet : providing service of distributing, delivering and storing of GCC tokens/coins with coin wallet
7. 1. 3. Services the Company deems necessary for the Users’ convenient use of the Service
7. 2. The Company may change the provision of Service according to the circumstances of the company.
7. 3. Users confirm and represent the following
7. 3. 1. The blockchain-based system is now recognized as not being able to be falsified, but things can be changed at any time due to technical advances or any unpredictable factors.
7. 3. 2. GCC coins may have no value, and Users may lose all amounts paid. Users are responsible for the judgment of purchasing GCC token/coins. The Company shall not be liable for loss of Users’ due to changes in GCC coin value.
8. Suspension of coin wallet
8. 1. The Company can update coin wallet for technical reasons such as improving security system, In this case the Company suspend the use of coin wallet for a certain period of time with advance notification.
8. 2. If there is a risk such as unusual transactions, hacking, the Company may immediately suspend the use of coin wallet to protect Users’ digital assets. In this case the Company shall notify the cause and follow-up.
8. 3. The Service can be integrated into the Company’s main service provided on platform.
9. Features of coin wallet
9. 1. The coin wallet can only be used for GCC tokens/coins issued by the Company and its features are limited to permitting Users to purchase, send, receive and store GCC tokens/coins and providing hold information
9. 2. In case of GCC coins are listed on exchange, the Company guarantees technical support to make a connection between coin wallets issued by the Company and exchange.
9. 3. When a User makes a transaction of GCC coins through the Service, the transaction data is permanently recorded in files called blocks and all Users can verify transactions. But transaction history can be restored to a certain point in the past if blockchain integrity is compromised due to third-party reasons, Company’s server check or blockchain failure wherein the Company has no control.
10. Compliance with the rules and relevant laws
10. 1. GCC tokens/coins shall be obtained only from the Company or the purchaser who made a purchase agreement with the Company. The Company shall not be responsible for any other acquisition or other transaction of GCC tokens/coins.
10. 2. GCC coins should be traded without the breach of the Terms and Conditions and applicable laws (by country). In case of a transaction that fails to comply with the Terms and Conditions and relevant laws, the company shall not have no obligation to distribute coins and shall not be responsible for any damage or loss.
10. 3. The Company never trade GCC token/coins in cash
(The Company never requires cash in selling GCC token/coins.)
10. 4. The Company does not guarantee or promise to increase value of GCC tokens/coins.
11. Suspensions and Termination of the service contract
11. 1. Users may terminate the service contract by applying for termination on the website. If the User is a corporation, application shall be made by the person in charge and the Company may require additional documents for examining. The Company shall not be responsible for any damages related to the User’s termination of the service contract.
11. 2. The Company reserves a right to suspend or terminate the service contract and any such other restrictive action to the following terms
11. 2. 1. If the User is found to be involved in any unauthorized activities
11. 2. 2. Use the Service by manner which may interfere with, disrupt, disable, overburden or impair the server of the Company as follows
11. 2. 2. 1. Transmission of bulk information that interferes with the stable operation of the services
11. 2. 2. 2. Repetitive transmission of advertising information
11. 2. 2. 3. Distributing computer viruses or other malicious code, agent, program or macros which cause Service malfunctions, information destruction or corruption
11. 2. 2. 4. Other ways equivalent to previous terms
11. 2. 3. If the User copies, distributes or commercially uses the information obtained through using of the Service without prior consent of the Company
11. 2. 4. If the User infringes any intellectual Property Right or proprietary right of the Company or a third party
11. 2. 5. If the User fails to comply with any of the Terms and Conditions
11. 2. 6. When the User is engaged in any unlawful or fraudulent activity by the applicable law
11. 3. Upon the termination of the service contract, digital asset in User’s coin wallet will automatically attributed to the Company.
11. 4. In case of taking restrictive actions to the use of the Service, the Company shall notify the User(if the User is a corporation, the person in charge) the reason, date and duration of the restrictions by telephone, text message, e-mail or website message.
11. 5. If the Company admits that it is necessary to suspend the use urgently, the Company may restrict the use of Service without the procedure described in clause 10.4.
11. 6. Users who has been notified suspension of use of the Service may file an appeal.
11. 7. If it is confirmed that there is no more reason for suspensions, the Company shall release suspensions.
11. 8. After the Company’s suspension or restriction of the use of Service, If the same action described in clause 10.2.1 or 10.2.2. is repeated more than once or the reasons are not resolved within 30 days, the Company may terminate the service contract.
11. 9. If the Company terminate the service contract, the Company shall cancel the Use’s membership registration. Before cancelling the User’s membership the Company shall notify the User and give the User a chance to call. When the User given the chance to call does not call within 7 days, the Company may cancel the User’s membership and can make the re-registration prohibition.
12. Privacy and Personal data protection
12. 1. The Company is committed to protecting Users’ privacy and personal data in relation to the provisions of the Service.
12. 2. Users agree that personal data and other information provided by Users may be collected, used and disclosed by the Company.
13. Responsibilities of Users
13. 1. Users shall comply with the Terms and Conditions, policies of the Company and any applicable laws.
13. 2. Users should not engage in any activity that could lead to failure or interruption of the server, network or other equipment connected to the Service.
13. 3. The User shall be liable to the Company or any third party for damages caused by the illegal activities of the User.
14. Account Security
14. 1. Users must safeguard password and keep it confidential.
14. 1. 1. Users must not disclose IDs or passwords to any third party by avoiding using IDs or Passwords that others can easily identify or infer and by changing passwords periodically
14. 1. 2. Users should keep his/her account secure by preventing another person’s accesses.
14. 2. Users are solely responsible for all their actions, whether or not their access was authorized by Users and Users hereby indemnify the Company and hold the Company harmless against all costs, claims, expenses and damages arising in connection with the use or access to your account by or with any third party.
14. 3. All the activities using Users’ account data on the Website are considered to be Users’ actions.
14. 4. If the User knows or suspect that anyone other than the User knows the User’s ID or the password, the User must notify the Company and follow the instructions of the Company. The Company shall not be liable for any disadvantages caused by failure to notify the Company or not to follow the instructions of the Company.
15. Modification and Change of the Service
15. 1. The Company shall notify the features, detailed usage procedures of the Service on the Website.
15. 2. If the features or procedures of the Service are modified, the Company may notify Users by ways of sending e-mail, text messages or publishing pop-up on website. The Company is not liable for User’s damage due to not viewing the notice.
15. 3. The Company may change or discontinue all or some of the Service it provides for its operational or technical needs such as changes to Company policies. In this regard, no compensation shall be made to the User unless otherwise specified in applicable law.
16. Providing and suspension of the Service
16. 1. In principal, the Company shall provide the Service to Users 24 hours a day, 7 days a week throughout the year.
16. 2. Notwithstanding clause 14.1., in the event of the following, the Company may suspend the provision of the Service. In this case the Company shall notify Users in advance by sending e-mail or text message or publishing pop-up message. However, if there is any urgent reason, the Company may not give advance notice and in this case the Company shall inform Users as soon as possible.
16. 2. 1. When there is a need to maintain repair or regulatory check all facilities related to Service provision
16. 2. 2. When there is interference with normal use of Service due to explosive use of Service
16. 2. 3. When the investigating agency, administrative department, or other public power investigates related to the occurrence or suspicion of illegal act such as financial fraud and the freezing account and coin wallet is required.
16. 2. 4. Force majeure. Events, circumstances or causes beyond the Company’s control.
16. 2. 4. 1. Power outage, no public or private network available
16. 2. 4. 2. Laws, orders, instructions by the administrative department
16. 2. 4. 3. National emergency such as strikes, Lockout, other labor disputes, terror, riot, war etc. Natural disasters.
16. 2. 4. 4. All kinds of natural disasters
17. Service fees
The Company will charge a separate fees in providing the Service on website
18. Responsibility of the Company
The Company is committed to complying with the Terms and Conditions and applicable laws. If the Company breaches the Terms and Conditions or applicable laws and damages the User, the Company assume liability within the scope of the damages which cannot be excluded or restricted under the relevant laws and regulations.
Users who uses the Service under the Terms and Conditions should state that he/she has not committed any violation of local laws or unlawful conduct. Therefore, the Company is not responsible for disputes under local laws. Conflicts that arise from the Service or conflicts between Users and the Company related to the Service will be governed by the court designated by the Company.
※ Additional Clause This terms and conditions will be effective from August 24, 2018.