Public offer
Approved on August 1, 2024, by Order No. 01 of the General Director of Coin Market LLC
PUBLIC OFFER
(an offer to enter into an adhesion contract) for the use of the Coin Market LLC service.
This Public Offer (hereinafter referred to as the “Contract”), in accordance with Part 2 of Article 398 of the Civil Code of the Kyrgyz Republic, is considered public and constitutes an indefinite offer from Coin Market LLC, hereinafter referred to as the “Operator” (virtual asset exchange operator license No. 0096 BA dated May 10, 2024, issued by the Financial Market Regulation and Supervision Service under the Ministry of Economy and Commerce of the Kyrgyz Republic), for the conclusion of a contract for the provision of services by the Operator and the receipt of services by the User (a legally competent individual, resident and/or non-resident) for the sale of virtual assets by the User and/or the purchase of virtual assets by the User and/or the exchange of one type of virtual assets for another type of virtual assets by the User (collectively, the Exchange Services) through the Coin Market LLC service (hereinafter referred to as the “System”), including via the Operator’s mobile application and website, to a legally competent individual who has reached 18 (eighteen) years of age, as well as to legal entities, collectively referred to as the “User,” and hereinafter jointly referred to as the “Parties,”under the terms set forth in this Contract. The Contract for the use of Exchange Services is deemed to be concluded and comes into effect as a contract from the moment the User performs actions specified in this Contract, indicating the User’s full and unconditional acceptance (acceptance) of all terms of this Contract without any exceptions or limitations, on the terms of adherence. By accepting (agreeing to) this Contract, the User – an individual – confirms their legal capacity and competence, that they are at least 18 years of age, their status as an individual entrepreneur, as well as their legal right and lack of restrictions to enter into contractual relations with the Operator of the System. Acceptance is considered complete and unconditional and, in accordance with Articles 387, 398, 399, and 402 of the Civil Code of the Kyrgyz Republic, signifies the conclusion (signing) and acceptance by the User of all terms of the Contract. If the User does not fully or partially agree with the terms of this Contract, the User must refrain from using the System. The term of the Contract is indefinite.
The current version of the Contract is available on the Operator’s public information resources for mandatory review before the User takes any action to accept the terms of the Contract (acceptance). The User can obtain additional information regarding this Contract, information about the use of the System, contract termination, and the Operator’s service fees on the Operator’s public information resources.
1. General Provisions
1.1. Terms and Definitions:
Virtual asset - a collection of data in electronic-digital form that has value, serving as a digital representation of value and/or a means of certifying property and/or non-property rights, created, stored, and traded using distributed ledger technology or similar technology, and is not a currency, means of payment, or security.
Funds - assets in soms and/or other foreign currency held in cash, in settlement, currency, and other accounts at banks and/or other institutions (including personal accounts of suppliers of goods and services). For the purposes of this Contract, the terms “funds” and “money transfer” may also refer to “electronic money” and related transactions with “electronic money,” depending on the context.
Application - an irrevocable order submitted by the User to the Operator through the System in the form established by the System, requesting the provision of necessary services for the purchase and sale (exchange) of virtual assets and/or exchanges between virtual assets.
Identification - the procedure for establishing identification data about the user and the beneficial owner of the user.
Counterparty - a third party with whom the Operator has established contractual relationships, whose participation is necessary for conducting the Exchange.
Access Code - a unique set of characters designated by the User during registration in the System, intended for User Authentication.
AML/CFT Measures - activities conducted by the Operator to comply with legislation on counteracting the financing of terrorism and the legalization (laundering) of criminal proceeds.
Exchange - a set of operations performed by the Operator to fulfill the User’s Application related to the transfer of funds/virtual assets between the Operator and the User using various instruments based on established contractual relationships between the Operator and counterparties, according to the details provided by the User.
Operator - Coin Market LLC, providing virtual asset services and performing coordination and ensuring the proper operation of the System as a whole.
Application Execution Period - the period of time that begins upon the Operator’s receipt of the Application and ends when the Counterparty debits funds from the Operator’s accounts for the purpose of transferring funds/virtual assets according to the details specified in the Application.
User - a natural person who is at least 18 (eighteen) years old, legally competent and capable, including individuals engaged in entrepreneurial activities or legal entities that have entered into a Contract with the Operator and have undergone the Identification procedure, entitled to use and perform financial transactions (payments).
Business Day - a calendar day defined as a working day according to the production calendar of the Kyrgyz Republic, from 09:00 to 18:00 (Bishkek time).
Account - under the accounts of the Operator and/or the User within the framework of this contract may be understood: a bank account, card account, electronic wallet account, virtual asset storage account, personal account of various suppliers of goods and services, including various electronic platforms.
System - the Operator’s software, with a user interface in the form of a mobile application and a web interface at https://coinmarket.kg/, designed for Users of the System, allowing Users to access the System via an internet connection for the purpose of receiving Exchange services provided by the Operator and utilizing other services that do not violate the legislation of the Kyrgyz Republic.
Fee - a specified amount of funds additionally charged as compensation for expenses and/or remuneration of the Operator of the System related to the fulfillment of its obligations under this Contract.
Virtual asset services - licensed activities carried out by the Operator as a provider of virtual asset services, granting the Operator the right to provide services for the purchase and sale (exchange) of virtual assets and/or exchange between virtual assets on its behalf to fulfill Payments.
User Device - a certified user (end-user) equipment legally owned by the User that allows access to Exchange services, providing the User with access to the Operator’s services by connecting this end device to the Operator’s communication network, including a personal computer.
System Participant - the Operator of the System, the User, the Provider, and other individuals who have the right to access the System.
1.2. The Operator does not provide any services for the individual setup of User Devices, including on-site visits to the User’s residence or workplace.
1.3. All textual information and graphic images on the System’s Website and/or Mobile Application are the property of the Operator and/or its partners. Reprinting or reproducing any materials in any form is only possible with prior written permission from the System Operator. Such materials may only be used for informational, non-commercial, or personal purposes.
1.4. By accepting all the terms of this Contract, the User thereby consents to receive informational/advertising materials sent to the phone number provided during registration in the System.
1.5. By accepting all the terms of this Contract, the User thereby acknowledges that virtual assets are not a means of payment, are not backed by the state, and that acquiring virtual assets may result in the complete loss of funds and other civil rights objects transferred in exchange for virtual assets (including as a result of the volatility of the value of virtual assets, technical failures (errors), or illegal actions, including theft).
2. Subject of the Contract
2.1. This Contract defines the terms and procedure for the User to receive Exchange services provided by the Operator under the conditions specified in the Contract.
3. Cost and Payment Procedure
3.1. Payments with the User are made at the exchange rate determined by the Operator in the national currency of the Kyrgyz Republic – som, international currency, or in virtual assets, depending on the type of transaction.
3.2. The Operator has the right to charge the User a Fee. The amounts of fees, grounds, conditions, and timing of their payment by the User are established in the Mobile Application and on the System’s Website. By continuing to use the System, the User submits an application and expresses agreement with the fees.
3.3. If the User disagrees with the Fee and/or the Exchange rate, they must refrain from submitting the Application, and the User shall not be entitled to claim compensation for any losses incurred by them and/or third parties due to the inability to use the System on this basis. The User assumes responsibility for all consequences of using the System made from their Device and in the Mobile Application. In the event of an erroneous Payment by the User, the service is considered duly rendered, and the amount of the paid fee is non-refundable.
3.4. The Operator has the right to unilaterally change (increase, decrease), establish new, or cancel existing Exchange rates and/or Fees, taking possible measures to notify Users.
4. Procedure for Using the System
4.1. To authenticate the User when logging into the Mobile Application or the System’s Website, the Access Code (registered using the mobile number belonging to the User) or the User’s fingerprint is used. Any access by the User to the System using the associated authentication means (including but not limited to: Access Code, etc.) is recognized as an unconditional fact confirming the User’s use of the System, with actions carried out using the associated authentication means considered as actions performed personally by the User.
4.2. To carry out an Exchange, the User submits an Application to the Operator. By submitting the Application, the User instructs the Operator to perform actions related to the Exchange on behalf of the User. By creating the Application and using the System, the User gives an unconditional and irrevocable instruction to the Operator for the Exchange, specifically:
4.2.1. the User instructs the Operator to perform the Exchange using electronic money, bank payment cards, funds, or virtual assets of the User, accepted as advance payments that the User is entitled to dispose of lawfully;
4.2.2. the creation of the Application is executed in electronic and/or paper form by filling out the fields in the Mobile Application, on the System’s Website, or in any other form agreed upon by the Operator. Clicking the acceptance button for the Exchange operation or performing any other actions expressly indicated by the Operator signifies the User’s consent to execute the Exchange Instruction and all conditions of such Instruction, Payment, Fee, and Exchange method, which collectively represents the User’s intent through the formation of a simple electronic signature, which in turn is analogous to the User’s handwritten signature.
4.3. The Exchange may be conducted on other grounds specified in this Contract and in the relevant regulatory documents of the Operator posted on the System’s Website and/or in the Mobile Application or provided to the User, and which do not contradict the legislation of the Kyrgyz Republic.
4.4. The Application submitted by the User through data entry in the Mobile Application or on the System’s Website and by clicking the acceptance button or performing any other actions expressly indicated by the Operator is recognized by the Parties as a proper and sufficient means of confirming the User’s intent to conduct the Exchange and the authenticity of the submitted Application. In certain cases, the Operator may require the input of an additional password sent via SMS or a message from the Mobile Application.
4.5. The Access Code (or the User’s fingerprint) alone and/or in combination with a password and/or clicking the acceptance button is recognized by the Parties as analogous to a handwritten signature. The use of the Access Code by the User produces legal consequences similar to those of handwritten signatures. All actions performed by the User or third parties after entering the Access Code, as set by the User during registration, are considered to have been performed by the User and are equated to instructions provided in written form and personally signed by the User.
4.6. In the event the User raises claims against the Operator regarding the use and/or authenticity of the Access Code/password, any changes made to the Payment Instruction or any other document after its submission to the Operator, or the fact of the Operator’s receipt of the Application, the User is obliged to attach relevant evidence to the claim confirming the existence of the above-mentioned facts. If the evidence is sufficient and the relevant opportunity exists, the Operator, using the System, has the right to verify the presence of the specified facts without any obligation to refund the funds or virtual assets.
4.7. The User’s Application shall not be executed by the System Operator in the following cases:
4.7.1. The User does not comply with the terms of this Contract.
4.7.2. There is a technical impossibility of providing the requested Exchange service by the Operator and/or the telecommunications operator.
4.7.3. There is an impossibility of providing Exchange services that the User wishes to pay for.
4.7.4. The Operator has grounds to believe that there is a risk of submitting an unauthorized Application.
4.7.5. The User temporarily lacks internet access or there is a loss of communication with the Operator and/or the telecommunications operator. In this case, where applicable, Applications may be executed after resolving communication issues or internet access without the need for resubmission of the Application.
4.7.6. In cases where the Operator has data or information that the User has made Payments with a linked bank card of which the User is not the holder or in cases where the User submits an Application to the Operator using funds or virtual assets that they do not own, or the specified instructions are not authorized by the owner of the funds or virtual assets.
4.7.7. In cases provided for by legislation aimed at countering the financing of terrorism and the legalization (laundering) of criminal proceeds.
4.8. In the event of successful execution of the Application, the Operator informs the User about the results of the Exchange through a system message and by generating an electronic document in the System containing all the details of the Exchange operation.
4.9. The Operator is deemed to have fulfilled its obligations under the User’s Application in full upon the Counterparty debits funds from the Operator’s accounts for the purpose of executing the Exchange operation:
4.9.1. The refund of funds and/or virtual assets is made at the initiative of the Operator due to the cancellation of a previously executed Exchange, resulting from a technical failure.
5. Restrictions (Features) on the Use of the System
5.1. The restrictions (features) on the use of the System listed in this Section 5 of the Contract do not constitute circumstances of improper service provision related to the use of the System and do not provide grounds for the User to refuse to pay the Fee and/or to claim compensation for damages.
5.2. The list of services offered and Exchange limits may depend on the User’s procedure for registration and identification.
5.3. The Operator has the right to impose personal restrictions on access to the list of Services based on suspicious actions by the User, up to and including complete blocking of access, for temporary or permanent suspicions of the User’s violation of the terms of the Contract.
5.4. The Operator has the right to unilaterally reduce the maximum amount of a single Exchange, as well as the total amount of Exchanges per day and/or per month, in favor of certain Users and/or for specific types of Services from Providers.
5.5. The Operator has the right to unilaterally suspend the Exchange without consent and direct the User’s funds and/or virtual assets to settle debts or obligations of the User.
6. Rights and Obligations of the Parties
6.1. User’s Obligations:
6.1.1. The User agrees to provide accurate information during registration and identification and bears responsibility for the reliability of the provided information, as well as to provide the Operator with personal data and a document confirming their identity via the System.
6.1.2. The User is prohibited from conducting entrepreneurial activities using the System without entering into a separate relevant contract with the Operator.
6.1.3. The User shall prevent attempts to submit Applications using the User’s Access Codes by third parties and must not disclose the Access Codes or the User Device with the installed System/Mobile Application to third parties.
6.1.4. When using the System, the User is prohibited from making any modifications to the System’s software and/or any part of it either independently or with the involvement of third parties.
6.1.5. The User is obligated to promptly notify the Operator of any changes to their personal data (namely: surname, first name, patronymic; address of residence (temporary residence), identification document details).
6.1.6. The User agrees not to use the System for illegal purposes or to purchase goods and services prohibited by the legislation of the Kyrgyz Republic.
6.1.7. The User must immediately inform the Operator in the event of losing control over the User Device.
6.1.8. The User must guarantee that the virtual asset sold by the User was obtained legally, is not in dispute or under arrest, is not pledged, is not encumbered by other third-party rights, and does not violate the rights of third parties.
6.1.9. The User is obliged, upon the Operator’s request, to confirm their sufficient level of knowledge (competence) for conducting transactions with virtual assets by completing a questionnaire (test) provided by the Operator before making such transactions.
6.1.10. The User must promptly notify the Operator of any discovered unauthorized opportunities within the system, vulnerabilities, or issues related to information security.
6.1.11. If the User acts on unauthorized opportunities within the system, vulnerabilities, or issues related to information security that result in harm to the Operator or third parties, they are obliged to compensate for the direct and indirect damages incurred by the affected party.
6.2. The Operator reserves the right within the framework of the Contract:
6.2.1. Before engaging in transactions with Users for the sale of virtual assets for money, to ensure that Users possess a sufficient level of knowledge (competence) for such transactions by providing a questionnaire (test) for the Users to complete. If the results of this assessment lead the Operator to believe that the User does not possess a sufficient level of knowledge (competence) for conducting transactions with virtual assets, the Operator may deny the User the ability to engage in such transactions.
6.2.2. At any time, without notifying Users, to modify any software of the System, the System’s Website, and the Mobile Application.
6.2.3. To suspend the operation of software and/or hardware ensuring the functioning of the System upon detection of significant faults, errors, and failures, as well as for preventive maintenance and to prevent unauthorized access to the System.
6.2.4. If the Operator or relevant government authorities establish the fact of suspicious financial transactions conducted by the User through the System, to take necessary measures unilaterally and without consent, including blocking the ability to conduct Exchange operations through the System, canceling any suspicious transactions, prohibiting certain operations, and unilaterally debiting any Payments to return funds to the original owner.
6.2.5. To unilaterally restrict the User’s access to the System without prior notice if, at the Operator’s sole discretion, the User’s use of the System poses or creates a threat to the financial security of the User, other Users, the Operator, counterparties, and third parties, in the event of a technical necessity to restrict access and/or an emergency situation in the System, or if liquidity, credit/system/legal and other risks arise.
6.2.6. To unilaterally restrict the User’s access to the System without prior notice if the User violates the provisions of the legislation of the Kyrgyz Republic, the terms of the Contract, illegally uses communication equipment, uses communication services unlawfully, utilizes non-certified User Devices and/or software, or violates the rules for operating communication means, notifying the User of this via SMS and/or email and/or System message and/or any other means.
6.2.7. To suspend the operation of the System, providing prior notice to the User via SMS and/or email and/or System message and/or any other means.
6.2.8. The Operator has the right to suspend operations and hold the User’s funds to prevent fraudulent activities and other actions that may cause financial and reputational losses to the Service or the User.
6.2.9. The Operator has the right to refuse the User’s application without providing reasons for the refusal.
6.2.10. To implement all necessary AML/CFT measures in relation to participants in cases defined by the legislation of the Kyrgyz Republic.
7. Liability of the Parties
7.1. The Parties shall be liable for failure to fulfill or improper fulfillment of obligations under this Contract in accordance with the terms of this Contract and the applicable legislation of the Kyrgyz Republic.
7.2. The User bears full and unconditional responsibility for the accuracy of the Application, including the indication of the details necessary for the Exchange (User details, amount of the Exchange, etc.), and shall not make demands to the Operator for adjustment or refund of the Exchange due to erroneous actions by the User.
7.3. The User is not entitled to demand the return of Payments made through the Device, the access to which was lost for reasons beyond the Operator’s control, including the use of a lost SIM card and/or disclosure of the Access Code and/or the User Device, until the Operator receives the corresponding statement from the User.
7.4. The Operator does not reimburse the User for commissions or fees from payment systems upon Refund.
7.5. In the case of returning virtual assets or funds to the User, the Operator will use the rates effective at the time of the return for calculating the refund amount to avoid losses from exchange rate differences.
7.6. The User bears the risks and responsibilities for any actions taken by third parties on behalf of the User through the User Device, as well as using applications and programs installed on the User Device or with their identification, authentication, or authorization data in the Mobile Application or on the System’s Website, including in the event of loss of access for reasons beyond the Operator’s control until the Operator receives a corresponding written statement from the User.
7.7. The User assumes all risks and responsibilities arising from the conduct of the Exchange, unauthorized by the owners of the funds and virtual assets.
7.8. The Operator is not liable to the User for delays and interruptions in the operation of technical platforms and transport networks or communication networks, for which the Operator is not at fault.
7.9. The Operator is not responsible for any damages incurred by the User due to the User’s disclosure of their authorization information, the content of SMS with authentication data, Access Code, and personal data, or information that has become accessible to third parties due to the User’s negligent actions.
7.10. The Operator is not liable for the User’s losses arising from unlawful actions of third parties.
7.11. The Operator is not liable for the failure to conduct the Exchange if the User does not comply with the requirements and conditions established by this Contract.
8. Procedure for Entering into and Duration of the Contract
8.1. This Contract is entered into by and between the Operator and the User in the form of an adhesion contract (Article 387 of the Civil Code of the Kyrgyz Republic).
8.2. The User accepts the Contract after reviewing its terms on the System’s Website or in the Mobile Application installed on the User’s Device by clicking the acceptance button or performing any other actions expressly indicated by the Operator.
8.3. Acceptance of the terms of the Contract signifies the User’s full and unconditional acceptance of all terms of the Contract without any exceptions and/or limitations and is equivalent to the conclusion of a bilateral written Contract for the use of the System.
8.4. The Contract is effective for an indefinite period or until terminated on the grounds specified by the terms of the Contract and/or the provisions of the applicable legislation of the Kyrgyz Republic.
9. Amendments and Termination of the Contract
9.1. The Operator has the right to unilaterally amend the Contract by publishing the changes on public resources. The amendments take effect upon publication unless a different effective date is specified at the time of publication. If the User disagrees with the changes to the terms of the Contract, they have the right to refuse to perform the Contract.
9.2. The User’s use of the System after the amendments to the Contract is understood by the Parties as acceptance of all changes made.
9.3. The Operator has the right to unilaterally terminate this Contract without going to court, provided that the User is notified at least 10 (ten) calendar days before the proposed termination date. The Operator may send such notification using the means of the System. The Contract is considered terminated after 10 (ten) calendar days following the sending of the specified notification.
9.4. The User has the right to refuse to perform this Contract at any time by providing written notice to the Operator of the System at least 10 (ten) calendar days before the proposed termination date, except in cases where the User has outstanding debts to the Operator or the ability to conduct an Exchange is blocked for the reasons provided in this Contract.
9.5. The Contract may be terminated for other grounds as provided for in this Contract and/or the applicable legislation of the Kyrgyz Republic.
10. Handling of Personal Data
10.1. The User gives their consent to the collection, processing, and storage of their personal data provided while receiving the Services, as well as to the transfer of such data to third parties, including cross-border transfer, in accordance with the law of the Kyrgyz Republic “On Personal Data”:
• To identify and verify their identity in accordance with the requirements established by the legislation of the Kyrgyz Republic and the terms of the Contract, to entities whose participation is necessary for providing the requested goods and services.
• When using public services provided by various government organizations, including the Ministry of Digital Development, to their contractors and subordinate organizations.
• In response to requests from government authorities to the respective government authorities.
• In response to requests from the State Service for Regulation and Supervision of Financial Markets under the Government of the Kyrgyz Republic to the State Service for Regulation and Supervision of Financial Markets under the Government of the Kyrgyz Republic.
• For local and cross-border transfer of personal data to the Operator’s Contractors when using services provided in the course of exchanging virtual assets.
• To receive informational/advertising materials at the phone number specified in the application.
• To conduct marketing and advertising campaigns/promotions, analyze personal preferences and behavior monitoring, generate anonymized personal data reports, statistical analysis, and various studies, as well as to enable feedback from personal data recipients and partners, including sending notifications and requests, including for the promotion of goods, works, and services of the personal data recipient and partners in the market using, including but not limited to, SMS services, email, postal and electronic communication, solely at the discretion of the personal data recipient or partner;
• For future use in documents with simple electronic signatures to confirm my actions.
• To other parties for purposes that do not contradict the legislation of the Kyrgyz Republic regarding the legal regulation of personal data handling.
• To other parties for purposes that do not contradict the legislation of the Kyrgyz Republic regarding the legal regulation of personal data handling.
11. Confidentiality
11.1. The Operator of the System undertakes to maintain confidentiality regarding information about the User that has come to the Operator’s knowledge in connection with the User’s use of the System, except in cases where such information:
11.1.1. is publicly available.
11.1.2. is disclosed at the request or with the consent of the User.
11.1.3. is required to be provided to Contractors to the extent necessary for the fulfillment of the Contract.
11.1.4. is required to be disclosed for reasons provided by the legislation of the Kyrgyz Republic or upon receiving relevant requests from credit organizations, courts, or authorized government authorities.
11.1.5. in other cases, provided for by the Contract and the legislation of the Kyrgyz Republic.
12. Contingencies and Force Majeure
12.1. If contingencies or force majeure events occur that exceed the operating rules and technology of the Operator’s and User’s payment infrastructure and require specially organized activities by the staff of the Parties to resolve them, the Parties agree to notify each other of any payment interruptions within 24 (twenty-four) hours of their discovery.
12.2. Upon resolution of the contingencies or force majeure events, the Parties agree to inform each other of the closure of the issues arising from the interaction between the Parties within 24 (twenty-four) hours of their resolution.
12.3. All obligations regarding mutual settlements must be fulfilled by the Parties regardless of the occurrence of contingencies or force majeure events.
12.4. A Party is exempt from liability for partial or complete non-fulfillment of obligations under this Contract if such non-fulfillment is a result of force majeure circumstances arising after the conclusion of the Contract, due to extraordinary circumstances that the Party could not foresee or prevent by reasonable measures. Such circumstances include widespread telecommunication failures, floods, fires, earthquakes, and other natural phenomena, as well as war, military actions, military coups, terrorist acts, directives, orders, or other administrative interventions by the government, or any other regulations, administrative or governmental restrictions, and other events for which neither Party is responsible.
12.5. In the event of the circumstances specified in Clause 12.4, the Party whose fulfillment of obligations is hindered must notify the other Party in writing within 3 (three) working days, unless a different timeframe is stipulated by the documentation procedures of the relevant competent authority. The notification must include details about the nature of the circumstances, which must be confirmed by a competent state or other organization, as well as, if possible, an assessment of their impact on the Party’s ability to fulfill its obligations under the Contract and the timeframe for fulfilling those obligations. Documentation from competent state authorities, as well as other evidence of the occurrence of force majeure circumstances, is not required in cases where the occurrence and impact of such circumstances are obvious or well-known.
12.6. If the circumstances specified in Clause 12.4 last for more than 60 (sixty) calendar days, the Parties have the right to unilaterally terminate the Contract without court proceedings, provided that the Parties conduct mutual settlements regarding the financial obligations arising from the performance of the Contract.
13. Procedure for Reviewing Claims and Resolving Disputes
13.1. In the event of non-fulfillment or improper fulfillment of the Services by the Operator of the System, the User must submit a written claim to the Operator prior to initiating legal proceedings in order to seek a pre-trial resolution of the dispute.
13.2. Claims must be submitted within 3 (three) months from the date the services were provided or denied.
13.3. The Operator of the System shall review the claim within a period not exceeding 60 (sixty) calendar days from the date of registration of the claim.
13.4. If the claim is rejected in whole or in part, or if the User does not receive a response within the established timeframe for reviewing the claim, the User has the right to file a lawsuit in court. The jurisdiction for all disputes between the Operator of the System and the User shall be determined by the location of the Operator of the System in accordance with Article 34 of the Civil Procedure Code of the Kyrgyz Republic. The User also agrees that the language of the court proceedings will be the official (Russian) language.
Approved on August 1, 2024, by Order No. 01
of the General Director of Coin Market LLC
Application Form
for a Transaction with a Virtual Asset No. _________
(formed during the use of the services of Coin Market LLC by the User)
Client: ____________________
Based on the PUBLIC OFFER (offer to enter into an adhesion contract) for the use of the services of Coin Market LLC,
offers to enter into the following transaction with a virtual asset:
Name of the virtual asset or national/international currency
Type of Instruction
Name of the Counter Asset
Цена или однозначные условия ее определения
Quantity or clear conditions for its determination
Transaction Amount
XXXXXXXXX
PURCHASE/SALE/EXCHANGE OF ONE TYPE OF VIRTUAL ASSET FOR ANOTHER
XXXXXXXX
XXXXXXXX
XXXXXXX
XXXX
Address of the External Wallet for Transferring the Virtual Asset:
___________________________________________
I request that all obligations related to the application, as well as expenses including fees, be deducted from the balance of my funds.
Coordinates
Bank Card Number/Electronic Wallet Number
ХХХ
XXXXXX
Additional Information: __________________________
Place for date____________________________ // _____________________ //
The information provided below is generated by the Operator's Exchange System.
Instruction Number: ___________________
Application Status: ____________________
Date and Time: _____________________________
2
PUBLIC OFFER
(an offer to enter into an adhesion contract) for the use of the Coin Market LLC service.
This Public Offer (hereinafter referred to as the “Contract”), in accordance with Part 2 of Article 398 of the Civil Code of the Kyrgyz Republic, is considered public and constitutes an indefinite offer from Coin Market LLC, hereinafter referred to as the “Operator” (virtual asset exchange operator license No. 0096 BA dated May 10, 2024, issued by the Financial Market Regulation and Supervision Service under the Ministry of Economy and Commerce of the Kyrgyz Republic), for the conclusion of a contract for the provision of services by the Operator and the receipt of services by the User (a legally competent individual, resident and/or non-resident) for the sale of virtual assets by the User and/or the purchase of virtual assets by the User and/or the exchange of one type of virtual assets for another type of virtual assets by the User (collectively, the Exchange Services) through the Coin Market LLC service (hereinafter referred to as the “System”), including via the Operator’s mobile application and website, to a legally competent individual who has reached 18 (eighteen) years of age, as well as to legal entities, collectively referred to as the “User,” and hereinafter jointly referred to as the “Parties,”under the terms set forth in this Contract. The Contract for the use of Exchange Services is deemed to be concluded and comes into effect as a contract from the moment the User performs actions specified in this Contract, indicating the User’s full and unconditional acceptance (acceptance) of all terms of this Contract without any exceptions or limitations, on the terms of adherence. By accepting (agreeing to) this Contract, the User – an individual – confirms their legal capacity and competence, that they are at least 18 years of age, their status as an individual entrepreneur, as well as their legal right and lack of restrictions to enter into contractual relations with the Operator of the System. Acceptance is considered complete and unconditional and, in accordance with Articles 387, 398, 399, and 402 of the Civil Code of the Kyrgyz Republic, signifies the conclusion (signing) and acceptance by the User of all terms of the Contract. If the User does not fully or partially agree with the terms of this Contract, the User must refrain from using the System. The term of the Contract is indefinite.
The current version of the Contract is available on the Operator’s public information resources for mandatory review before the User takes any action to accept the terms of the Contract (acceptance). The User can obtain additional information regarding this Contract, information about the use of the System, contract termination, and the Operator’s service fees on the Operator’s public information resources.
1. General Provisions
1.1. Terms and Definitions:
Virtual asset - a collection of data in electronic-digital form that has value, serving as a digital representation of value and/or a means of certifying property and/or non-property rights, created, stored, and traded using distributed ledger technology or similar technology, and is not a currency, means of payment, or security.
Funds - assets in soms and/or other foreign currency held in cash, in settlement, currency, and other accounts at banks and/or other institutions (including personal accounts of suppliers of goods and services). For the purposes of this Contract, the terms “funds” and “money transfer” may also refer to “electronic money” and related transactions with “electronic money,” depending on the context.
Application - an irrevocable order submitted by the User to the Operator through the System in the form established by the System, requesting the provision of necessary services for the purchase and sale (exchange) of virtual assets and/or exchanges between virtual assets.
Identification - the procedure for establishing identification data about the user and the beneficial owner of the user.
Counterparty - a third party with whom the Operator has established contractual relationships, whose participation is necessary for conducting the Exchange.
Access Code - a unique set of characters designated by the User during registration in the System, intended for User Authentication.
AML/CFT Measures - activities conducted by the Operator to comply with legislation on counteracting the financing of terrorism and the legalization (laundering) of criminal proceeds.
Exchange - a set of operations performed by the Operator to fulfill the User’s Application related to the transfer of funds/virtual assets between the Operator and the User using various instruments based on established contractual relationships between the Operator and counterparties, according to the details provided by the User.
Operator - Coin Market LLC, providing virtual asset services and performing coordination and ensuring the proper operation of the System as a whole.
Application Execution Period - the period of time that begins upon the Operator’s receipt of the Application and ends when the Counterparty debits funds from the Operator’s accounts for the purpose of transferring funds/virtual assets according to the details specified in the Application.
User - a natural person who is at least 18 (eighteen) years old, legally competent and capable, including individuals engaged in entrepreneurial activities or legal entities that have entered into a Contract with the Operator and have undergone the Identification procedure, entitled to use and perform financial transactions (payments).
Business Day - a calendar day defined as a working day according to the production calendar of the Kyrgyz Republic, from 09:00 to 18:00 (Bishkek time).
Account - under the accounts of the Operator and/or the User within the framework of this contract may be understood: a bank account, card account, electronic wallet account, virtual asset storage account, personal account of various suppliers of goods and services, including various electronic platforms.
System - the Operator’s software, with a user interface in the form of a mobile application and a web interface at https://coinmarket.kg/, designed for Users of the System, allowing Users to access the System via an internet connection for the purpose of receiving Exchange services provided by the Operator and utilizing other services that do not violate the legislation of the Kyrgyz Republic.
Fee - a specified amount of funds additionally charged as compensation for expenses and/or remuneration of the Operator of the System related to the fulfillment of its obligations under this Contract.
Virtual asset services - licensed activities carried out by the Operator as a provider of virtual asset services, granting the Operator the right to provide services for the purchase and sale (exchange) of virtual assets and/or exchange between virtual assets on its behalf to fulfill Payments.
User Device - a certified user (end-user) equipment legally owned by the User that allows access to Exchange services, providing the User with access to the Operator’s services by connecting this end device to the Operator’s communication network, including a personal computer.
System Participant - the Operator of the System, the User, the Provider, and other individuals who have the right to access the System.
1.2. The Operator does not provide any services for the individual setup of User Devices, including on-site visits to the User’s residence or workplace.
1.3. All textual information and graphic images on the System’s Website and/or Mobile Application are the property of the Operator and/or its partners. Reprinting or reproducing any materials in any form is only possible with prior written permission from the System Operator. Such materials may only be used for informational, non-commercial, or personal purposes.
1.4. By accepting all the terms of this Contract, the User thereby consents to receive informational/advertising materials sent to the phone number provided during registration in the System.
1.5. By accepting all the terms of this Contract, the User thereby acknowledges that virtual assets are not a means of payment, are not backed by the state, and that acquiring virtual assets may result in the complete loss of funds and other civil rights objects transferred in exchange for virtual assets (including as a result of the volatility of the value of virtual assets, technical failures (errors), or illegal actions, including theft).
2. Subject of the Contract
2.1. This Contract defines the terms and procedure for the User to receive Exchange services provided by the Operator under the conditions specified in the Contract.
3. Cost and Payment Procedure
3.1. Payments with the User are made at the exchange rate determined by the Operator in the national currency of the Kyrgyz Republic – som, international currency, or in virtual assets, depending on the type of transaction.
3.2. The Operator has the right to charge the User a Fee. The amounts of fees, grounds, conditions, and timing of their payment by the User are established in the Mobile Application and on the System’s Website. By continuing to use the System, the User submits an application and expresses agreement with the fees.
3.3. If the User disagrees with the Fee and/or the Exchange rate, they must refrain from submitting the Application, and the User shall not be entitled to claim compensation for any losses incurred by them and/or third parties due to the inability to use the System on this basis. The User assumes responsibility for all consequences of using the System made from their Device and in the Mobile Application. In the event of an erroneous Payment by the User, the service is considered duly rendered, and the amount of the paid fee is non-refundable.
3.4. The Operator has the right to unilaterally change (increase, decrease), establish new, or cancel existing Exchange rates and/or Fees, taking possible measures to notify Users.
4. Procedure for Using the System
4.1. To authenticate the User when logging into the Mobile Application or the System’s Website, the Access Code (registered using the mobile number belonging to the User) or the User’s fingerprint is used. Any access by the User to the System using the associated authentication means (including but not limited to: Access Code, etc.) is recognized as an unconditional fact confirming the User’s use of the System, with actions carried out using the associated authentication means considered as actions performed personally by the User.
4.2. To carry out an Exchange, the User submits an Application to the Operator. By submitting the Application, the User instructs the Operator to perform actions related to the Exchange on behalf of the User. By creating the Application and using the System, the User gives an unconditional and irrevocable instruction to the Operator for the Exchange, specifically:
4.2.1. the User instructs the Operator to perform the Exchange using electronic money, bank payment cards, funds, or virtual assets of the User, accepted as advance payments that the User is entitled to dispose of lawfully;
4.2.2. the creation of the Application is executed in electronic and/or paper form by filling out the fields in the Mobile Application, on the System’s Website, or in any other form agreed upon by the Operator. Clicking the acceptance button for the Exchange operation or performing any other actions expressly indicated by the Operator signifies the User’s consent to execute the Exchange Instruction and all conditions of such Instruction, Payment, Fee, and Exchange method, which collectively represents the User’s intent through the formation of a simple electronic signature, which in turn is analogous to the User’s handwritten signature.
4.3. The Exchange may be conducted on other grounds specified in this Contract and in the relevant regulatory documents of the Operator posted on the System’s Website and/or in the Mobile Application or provided to the User, and which do not contradict the legislation of the Kyrgyz Republic.
4.4. The Application submitted by the User through data entry in the Mobile Application or on the System’s Website and by clicking the acceptance button or performing any other actions expressly indicated by the Operator is recognized by the Parties as a proper and sufficient means of confirming the User’s intent to conduct the Exchange and the authenticity of the submitted Application. In certain cases, the Operator may require the input of an additional password sent via SMS or a message from the Mobile Application.
4.5. The Access Code (or the User’s fingerprint) alone and/or in combination with a password and/or clicking the acceptance button is recognized by the Parties as analogous to a handwritten signature. The use of the Access Code by the User produces legal consequences similar to those of handwritten signatures. All actions performed by the User or third parties after entering the Access Code, as set by the User during registration, are considered to have been performed by the User and are equated to instructions provided in written form and personally signed by the User.
4.6. In the event the User raises claims against the Operator regarding the use and/or authenticity of the Access Code/password, any changes made to the Payment Instruction or any other document after its submission to the Operator, or the fact of the Operator’s receipt of the Application, the User is obliged to attach relevant evidence to the claim confirming the existence of the above-mentioned facts. If the evidence is sufficient and the relevant opportunity exists, the Operator, using the System, has the right to verify the presence of the specified facts without any obligation to refund the funds or virtual assets.
4.7. The User’s Application shall not be executed by the System Operator in the following cases:
4.7.1. The User does not comply with the terms of this Contract.
4.7.2. There is a technical impossibility of providing the requested Exchange service by the Operator and/or the telecommunications operator.
4.7.3. There is an impossibility of providing Exchange services that the User wishes to pay for.
4.7.4. The Operator has grounds to believe that there is a risk of submitting an unauthorized Application.
4.7.5. The User temporarily lacks internet access or there is a loss of communication with the Operator and/or the telecommunications operator. In this case, where applicable, Applications may be executed after resolving communication issues or internet access without the need for resubmission of the Application.
4.7.6. In cases where the Operator has data or information that the User has made Payments with a linked bank card of which the User is not the holder or in cases where the User submits an Application to the Operator using funds or virtual assets that they do not own, or the specified instructions are not authorized by the owner of the funds or virtual assets.
4.7.7. In cases provided for by legislation aimed at countering the financing of terrorism and the legalization (laundering) of criminal proceeds.
4.8. In the event of successful execution of the Application, the Operator informs the User about the results of the Exchange through a system message and by generating an electronic document in the System containing all the details of the Exchange operation.
4.9. The Operator is deemed to have fulfilled its obligations under the User’s Application in full upon the Counterparty debits funds from the Operator’s accounts for the purpose of executing the Exchange operation:
4.9.1. The refund of funds and/or virtual assets is made at the initiative of the Operator due to the cancellation of a previously executed Exchange, resulting from a technical failure.
5. Restrictions (Features) on the Use of the System
5.1. The restrictions (features) on the use of the System listed in this Section 5 of the Contract do not constitute circumstances of improper service provision related to the use of the System and do not provide grounds for the User to refuse to pay the Fee and/or to claim compensation for damages.
5.2. The list of services offered and Exchange limits may depend on the User’s procedure for registration and identification.
5.3. The Operator has the right to impose personal restrictions on access to the list of Services based on suspicious actions by the User, up to and including complete blocking of access, for temporary or permanent suspicions of the User’s violation of the terms of the Contract.
5.4. The Operator has the right to unilaterally reduce the maximum amount of a single Exchange, as well as the total amount of Exchanges per day and/or per month, in favor of certain Users and/or for specific types of Services from Providers.
5.5. The Operator has the right to unilaterally suspend the Exchange without consent and direct the User’s funds and/or virtual assets to settle debts or obligations of the User.
6. Rights and Obligations of the Parties
6.1. User’s Obligations:
6.1.1. The User agrees to provide accurate information during registration and identification and bears responsibility for the reliability of the provided information, as well as to provide the Operator with personal data and a document confirming their identity via the System.
6.1.2. The User is prohibited from conducting entrepreneurial activities using the System without entering into a separate relevant contract with the Operator.
6.1.3. The User shall prevent attempts to submit Applications using the User’s Access Codes by third parties and must not disclose the Access Codes or the User Device with the installed System/Mobile Application to third parties.
6.1.4. When using the System, the User is prohibited from making any modifications to the System’s software and/or any part of it either independently or with the involvement of third parties.
6.1.5. The User is obligated to promptly notify the Operator of any changes to their personal data (namely: surname, first name, patronymic; address of residence (temporary residence), identification document details).
6.1.6. The User agrees not to use the System for illegal purposes or to purchase goods and services prohibited by the legislation of the Kyrgyz Republic.
6.1.7. The User must immediately inform the Operator in the event of losing control over the User Device.
6.1.8. The User must guarantee that the virtual asset sold by the User was obtained legally, is not in dispute or under arrest, is not pledged, is not encumbered by other third-party rights, and does not violate the rights of third parties.
6.1.9. The User is obliged, upon the Operator’s request, to confirm their sufficient level of knowledge (competence) for conducting transactions with virtual assets by completing a questionnaire (test) provided by the Operator before making such transactions.
6.1.10. The User must promptly notify the Operator of any discovered unauthorized opportunities within the system, vulnerabilities, or issues related to information security.
6.1.11. If the User acts on unauthorized opportunities within the system, vulnerabilities, or issues related to information security that result in harm to the Operator or third parties, they are obliged to compensate for the direct and indirect damages incurred by the affected party.
6.2. The Operator reserves the right within the framework of the Contract:
6.2.1. Before engaging in transactions with Users for the sale of virtual assets for money, to ensure that Users possess a sufficient level of knowledge (competence) for such transactions by providing a questionnaire (test) for the Users to complete. If the results of this assessment lead the Operator to believe that the User does not possess a sufficient level of knowledge (competence) for conducting transactions with virtual assets, the Operator may deny the User the ability to engage in such transactions.
6.2.2. At any time, without notifying Users, to modify any software of the System, the System’s Website, and the Mobile Application.
6.2.3. To suspend the operation of software and/or hardware ensuring the functioning of the System upon detection of significant faults, errors, and failures, as well as for preventive maintenance and to prevent unauthorized access to the System.
6.2.4. If the Operator or relevant government authorities establish the fact of suspicious financial transactions conducted by the User through the System, to take necessary measures unilaterally and without consent, including blocking the ability to conduct Exchange operations through the System, canceling any suspicious transactions, prohibiting certain operations, and unilaterally debiting any Payments to return funds to the original owner.
6.2.5. To unilaterally restrict the User’s access to the System without prior notice if, at the Operator’s sole discretion, the User’s use of the System poses or creates a threat to the financial security of the User, other Users, the Operator, counterparties, and third parties, in the event of a technical necessity to restrict access and/or an emergency situation in the System, or if liquidity, credit/system/legal and other risks arise.
6.2.6. To unilaterally restrict the User’s access to the System without prior notice if the User violates the provisions of the legislation of the Kyrgyz Republic, the terms of the Contract, illegally uses communication equipment, uses communication services unlawfully, utilizes non-certified User Devices and/or software, or violates the rules for operating communication means, notifying the User of this via SMS and/or email and/or System message and/or any other means.
6.2.7. To suspend the operation of the System, providing prior notice to the User via SMS and/or email and/or System message and/or any other means.
6.2.8. The Operator has the right to suspend operations and hold the User’s funds to prevent fraudulent activities and other actions that may cause financial and reputational losses to the Service or the User.
6.2.9. The Operator has the right to refuse the User’s application without providing reasons for the refusal.
6.2.10. To implement all necessary AML/CFT measures in relation to participants in cases defined by the legislation of the Kyrgyz Republic.
7. Liability of the Parties
7.1. The Parties shall be liable for failure to fulfill or improper fulfillment of obligations under this Contract in accordance with the terms of this Contract and the applicable legislation of the Kyrgyz Republic.
7.2. The User bears full and unconditional responsibility for the accuracy of the Application, including the indication of the details necessary for the Exchange (User details, amount of the Exchange, etc.), and shall not make demands to the Operator for adjustment or refund of the Exchange due to erroneous actions by the User.
7.3. The User is not entitled to demand the return of Payments made through the Device, the access to which was lost for reasons beyond the Operator’s control, including the use of a lost SIM card and/or disclosure of the Access Code and/or the User Device, until the Operator receives the corresponding statement from the User.
7.4. The Operator does not reimburse the User for commissions or fees from payment systems upon Refund.
7.5. In the case of returning virtual assets or funds to the User, the Operator will use the rates effective at the time of the return for calculating the refund amount to avoid losses from exchange rate differences.
7.6. The User bears the risks and responsibilities for any actions taken by third parties on behalf of the User through the User Device, as well as using applications and programs installed on the User Device or with their identification, authentication, or authorization data in the Mobile Application or on the System’s Website, including in the event of loss of access for reasons beyond the Operator’s control until the Operator receives a corresponding written statement from the User.
7.7. The User assumes all risks and responsibilities arising from the conduct of the Exchange, unauthorized by the owners of the funds and virtual assets.
7.8. The Operator is not liable to the User for delays and interruptions in the operation of technical platforms and transport networks or communication networks, for which the Operator is not at fault.
7.9. The Operator is not responsible for any damages incurred by the User due to the User’s disclosure of their authorization information, the content of SMS with authentication data, Access Code, and personal data, or information that has become accessible to third parties due to the User’s negligent actions.
7.10. The Operator is not liable for the User’s losses arising from unlawful actions of third parties.
7.11. The Operator is not liable for the failure to conduct the Exchange if the User does not comply with the requirements and conditions established by this Contract.
8. Procedure for Entering into and Duration of the Contract
8.1. This Contract is entered into by and between the Operator and the User in the form of an adhesion contract (Article 387 of the Civil Code of the Kyrgyz Republic).
8.2. The User accepts the Contract after reviewing its terms on the System’s Website or in the Mobile Application installed on the User’s Device by clicking the acceptance button or performing any other actions expressly indicated by the Operator.
8.3. Acceptance of the terms of the Contract signifies the User’s full and unconditional acceptance of all terms of the Contract without any exceptions and/or limitations and is equivalent to the conclusion of a bilateral written Contract for the use of the System.
8.4. The Contract is effective for an indefinite period or until terminated on the grounds specified by the terms of the Contract and/or the provisions of the applicable legislation of the Kyrgyz Republic.
9. Amendments and Termination of the Contract
9.1. The Operator has the right to unilaterally amend the Contract by publishing the changes on public resources. The amendments take effect upon publication unless a different effective date is specified at the time of publication. If the User disagrees with the changes to the terms of the Contract, they have the right to refuse to perform the Contract.
9.2. The User’s use of the System after the amendments to the Contract is understood by the Parties as acceptance of all changes made.
9.3. The Operator has the right to unilaterally terminate this Contract without going to court, provided that the User is notified at least 10 (ten) calendar days before the proposed termination date. The Operator may send such notification using the means of the System. The Contract is considered terminated after 10 (ten) calendar days following the sending of the specified notification.
9.4. The User has the right to refuse to perform this Contract at any time by providing written notice to the Operator of the System at least 10 (ten) calendar days before the proposed termination date, except in cases where the User has outstanding debts to the Operator or the ability to conduct an Exchange is blocked for the reasons provided in this Contract.
9.5. The Contract may be terminated for other grounds as provided for in this Contract and/or the applicable legislation of the Kyrgyz Republic.
10. Handling of Personal Data
10.1. The User gives their consent to the collection, processing, and storage of their personal data provided while receiving the Services, as well as to the transfer of such data to third parties, including cross-border transfer, in accordance with the law of the Kyrgyz Republic “On Personal Data”:
• To identify and verify their identity in accordance with the requirements established by the legislation of the Kyrgyz Republic and the terms of the Contract, to entities whose participation is necessary for providing the requested goods and services.
• When using public services provided by various government organizations, including the Ministry of Digital Development, to their contractors and subordinate organizations.
• In response to requests from government authorities to the respective government authorities.
• In response to requests from the State Service for Regulation and Supervision of Financial Markets under the Government of the Kyrgyz Republic to the State Service for Regulation and Supervision of Financial Markets under the Government of the Kyrgyz Republic.
• For local and cross-border transfer of personal data to the Operator’s Contractors when using services provided in the course of exchanging virtual assets.
• To receive informational/advertising materials at the phone number specified in the application.
• To conduct marketing and advertising campaigns/promotions, analyze personal preferences and behavior monitoring, generate anonymized personal data reports, statistical analysis, and various studies, as well as to enable feedback from personal data recipients and partners, including sending notifications and requests, including for the promotion of goods, works, and services of the personal data recipient and partners in the market using, including but not limited to, SMS services, email, postal and electronic communication, solely at the discretion of the personal data recipient or partner;
• For future use in documents with simple electronic signatures to confirm my actions.
• To other parties for purposes that do not contradict the legislation of the Kyrgyz Republic regarding the legal regulation of personal data handling.
• To other parties for purposes that do not contradict the legislation of the Kyrgyz Republic regarding the legal regulation of personal data handling.
11. Confidentiality
11.1. The Operator of the System undertakes to maintain confidentiality regarding information about the User that has come to the Operator’s knowledge in connection with the User’s use of the System, except in cases where such information:
11.1.1. is publicly available.
11.1.2. is disclosed at the request or with the consent of the User.
11.1.3. is required to be provided to Contractors to the extent necessary for the fulfillment of the Contract.
11.1.4. is required to be disclosed for reasons provided by the legislation of the Kyrgyz Republic or upon receiving relevant requests from credit organizations, courts, or authorized government authorities.
11.1.5. in other cases, provided for by the Contract and the legislation of the Kyrgyz Republic.
12. Contingencies and Force Majeure
12.1. If contingencies or force majeure events occur that exceed the operating rules and technology of the Operator’s and User’s payment infrastructure and require specially organized activities by the staff of the Parties to resolve them, the Parties agree to notify each other of any payment interruptions within 24 (twenty-four) hours of their discovery.
12.2. Upon resolution of the contingencies or force majeure events, the Parties agree to inform each other of the closure of the issues arising from the interaction between the Parties within 24 (twenty-four) hours of their resolution.
12.3. All obligations regarding mutual settlements must be fulfilled by the Parties regardless of the occurrence of contingencies or force majeure events.
12.4. A Party is exempt from liability for partial or complete non-fulfillment of obligations under this Contract if such non-fulfillment is a result of force majeure circumstances arising after the conclusion of the Contract, due to extraordinary circumstances that the Party could not foresee or prevent by reasonable measures. Such circumstances include widespread telecommunication failures, floods, fires, earthquakes, and other natural phenomena, as well as war, military actions, military coups, terrorist acts, directives, orders, or other administrative interventions by the government, or any other regulations, administrative or governmental restrictions, and other events for which neither Party is responsible.
12.5. In the event of the circumstances specified in Clause 12.4, the Party whose fulfillment of obligations is hindered must notify the other Party in writing within 3 (three) working days, unless a different timeframe is stipulated by the documentation procedures of the relevant competent authority. The notification must include details about the nature of the circumstances, which must be confirmed by a competent state or other organization, as well as, if possible, an assessment of their impact on the Party’s ability to fulfill its obligations under the Contract and the timeframe for fulfilling those obligations. Documentation from competent state authorities, as well as other evidence of the occurrence of force majeure circumstances, is not required in cases where the occurrence and impact of such circumstances are obvious or well-known.
12.6. If the circumstances specified in Clause 12.4 last for more than 60 (sixty) calendar days, the Parties have the right to unilaterally terminate the Contract without court proceedings, provided that the Parties conduct mutual settlements regarding the financial obligations arising from the performance of the Contract.
13. Procedure for Reviewing Claims and Resolving Disputes
13.1. In the event of non-fulfillment or improper fulfillment of the Services by the Operator of the System, the User must submit a written claim to the Operator prior to initiating legal proceedings in order to seek a pre-trial resolution of the dispute.
13.2. Claims must be submitted within 3 (three) months from the date the services were provided or denied.
13.3. The Operator of the System shall review the claim within a period not exceeding 60 (sixty) calendar days from the date of registration of the claim.
13.4. If the claim is rejected in whole or in part, or if the User does not receive a response within the established timeframe for reviewing the claim, the User has the right to file a lawsuit in court. The jurisdiction for all disputes between the Operator of the System and the User shall be determined by the location of the Operator of the System in accordance with Article 34 of the Civil Procedure Code of the Kyrgyz Republic. The User also agrees that the language of the court proceedings will be the official (Russian) language.
Approved on August 1, 2024, by Order No. 01
of the General Director of Coin Market LLC
Application Form
for a Transaction with a Virtual Asset No. _________
(formed during the use of the services of Coin Market LLC by the User)
Client: ____________________
Based on the PUBLIC OFFER (offer to enter into an adhesion contract) for the use of the services of Coin Market LLC,
offers to enter into the following transaction with a virtual asset:
Name of the virtual asset or national/international currency
Type of Instruction
Name of the Counter Asset
Цена или однозначные условия ее определения
Quantity or clear conditions for its determination
Transaction Amount
XXXXXXXXX
PURCHASE/SALE/EXCHANGE OF ONE TYPE OF VIRTUAL ASSET FOR ANOTHER
XXXXXXXX
XXXXXXXX
XXXXXXX
XXXX
Address of the External Wallet for Transferring the Virtual Asset:
___________________________________________
I request that all obligations related to the application, as well as expenses including fees, be deducted from the balance of my funds.
Coordinates
Bank Card Number/Electronic Wallet Number
ХХХ
XXXXXX
Additional Information: __________________________
Place for date____________________________ // _____________________ //
The information provided below is generated by the Operator's Exchange System.
Instruction Number: ___________________
Application Status: ____________________
Date and Time: _____________________________
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