Terms & Conditions for UB Mining
Updated as per 01. Nov. 2023.
This Terms and Conditions (hereinafter - the “Agreement”) is made and entered into by and between UB Mining, incorporated under the laws of the United Arab Emirates, (hereinafter - “UBM”) and the entity or person (hereinafter - the “Customer” or “you”) agreeing and accepting the terms of the Agreement by continuing using services offered on this UBM administrated website and / or mobile application (hereinafter - the “Platform”).
This Agreement is effective as of the date that the Customer clicks to accept the Agreement (the “Effective Date”). The services are considered to be rendered by the date of termination of the term of the selected contract. If you are accepting on behalf of the Customer, you represent and warrant that: (i) you have full legal authority to bind the Customer to this Agreement; (ii) you have read and understood this Agreement; and (iii) you agree, on behalf of the Customer, to this Agreement. If you do not have the legal authority to bind the Customer, please do not click to accept. This Agreement governs the Customer's access to and use of the hosted computational services and other services performed by UBM on the Platform (hereinafter - the “Services”).
Terms of this Agreement are spreading its effect on all relationships performed on this website and /or mobile application offered by UBM.
1. PROVISION OF THE SERVICES.
1.1. ALGORITHM.
This Agreement is for the use of one algorithm in connection with transaction verification for one or more blockchain protocols. At the commencement of the Term of the Agreement, the Customer-selected algorithm may be employed for certain digital assets extraction. As described in Section 3 below, the Customer acknowledges the risks associated with blockchain technologies and acknowledges that variations may occur with the protocols used to perform
blockchain transaction verifications (“output”) for cryptocurrencies using the algorithm selected by the Customer.
1.2. COMPUTATIONAL POWER AND HASH RATE.
UBM will provide the Customer computational power at a hash rate that is fixed for the Term of the Agreement, subject to Section 1.3 (Service Level Agreement and Variances).
1.3. SERVICE LEVEL AGREEMENT AND VARIANCES.
The Customer acknowledges that the Services shall be rendered on a best effort basis. The availability of computational power and, accordingly, the output and results of any Services and cryptocurrencies may vary. Notwithstanding the aforementioned variance, UBM shall make reasonable efforts to ensure that all facilities and the relevant supplies for providing the Services are maintained in good working order to avoid any variance with the same diligence it applies in its own dealings.
1.4. HASH RATE OUTPUT.
The Customer's selection of an algorithm, selection of a quantity of computational power or hash rate, allocation of computational power, and use of the Services may result in the receipt of reward in cryptocurrencies. UBM may set and adjust the threshold for delivering the Hash Rate Output at its sole discretion upon notice to the Customer. Adjustments are generally made due to material increase or decrease to Blockchain Transaction Fees or operational degradation, congestion, failure or disruption otherwise of the blockchain network used by Customer.
1.5. HASH RATE OUTPUT CONVERSION.
As described in Section 1.4 (Hash Rate Output) above, the Customer's selection of an algorithm, allocation of computational power, and use of the Services may result in the reward of one or more cryptocurrencies. Where applicable, UBM may provide the Customer with the option to receive the Hash Rate Output in one or more digital asset in equal value to the digital asset extracted by the Customer.
1.6. SERVICES USE.
During the Term, the Customer may: (i) use the Services, and (ii) use any Software provided by UBM as part of the Services. The Customer may not sublicense or transfer these rights.
1.7 . DASHBOARD.
As part of receiving the Services, the Customer will have access to the Dashboard through which the Customer may administer accessible services, including management and allocation of its deployment of computation power in connection with the Customer's selected algorithm.
1.8. NEW APPLICATIONS AND SERVICES.
UBM may: (i) make new applications, tools, features or functionality available from time to time through the Services; and (ii) add new services to this Section 1 (Provision of Services) from time to time, the use of which may be contingent upon the Customer's agreement to additional terms.
1.9. MODIFICATIONS TO THE SERVICES AND AGREEMENT.
UBM reserves the right to make in its solely discretion commercially reasonable updates to the Services and to the Agreement from time to time. If UBM makes a material change to the Services or to the Agreement and any linked documents, it will notify about such changes by updating the Agreement of by placing corresponding information in description of the Services. Unless otherwise noted, material changes to the Agreement will become effective upon day of publication of updated terms of the Services and / or documents on the Platform. If the Customer or other user of the Platform do not accept any changes to mentioned terms and / or documents he (she) must stop using the Platform immediately. Therefore, continued usage of the Platform is deemed as acceptance of the modified terms of the Services and / or documents on the Platform. The Customer or other user accepts his (her) solely obligation and corresponding risks for timely and frequently reviewing the Agreement and terms of the Services to ensure the applicable usage of the Services and the Platform.
1.10. WITHDRAWAL.
1.10.1.
Results of performance of purchased computational power, other digital assets are due to withdrawal due the Customer's request on terms of the Agreement.
1.10.2.
Withdrawals may be performed only after the agreement term is completed and identification and security checks are completed and approved by UBM.
1.10.3.
UBM performs security checks and identification procedures checks within 3 working days since the moment the corresponding withdrawal request is received. UBM has the right based on UBM' solely expert opinion to increase the period of checking period set in this paragraph for additional security and identification procedures without any additional notifications or explanations. Terms of withdrawal procedures including security checks are suspending on period of non-working days (including Saturdays, Sundays and public holidays). UBM has right to suspend withdrawal process in case of revealed risks of theft, malversation, tort, misrepresentation, fraudulent activities and request additional documents and information to acknowledge that the personal account is not under third party' control, and / or any assets are not under risk of theft or subject of fraudulent activities.
1.11. EQUIPMENT RENT.
All conditions of equipment rent are described in the contract, with which the Customer agrees at the time of payment. For the rent period all property rights for the leased equipment belong to UBM and not transferred to the Customer. In case of equipment rent UBM is fully responsible for the equipment maintenance and issues related to equipment breakdown.
1.12. ACTIVE PERIOD OF THE HASH RATE AND THE RESULTS OF ITS PERFORMANCE.
The computational power at a hash rate that was purchased by the Customer is active within the period of offer and / or contracts that was purchased (accepted) by the Customer.
1.13. NOT AN ADVISOR.
All information placed on the Platform about cryptocurrencies, other digital assets or portfolios of cryptocurrencies can not be treated as an investment advice, consulting advice, trading or any other kind of advice, promise or responsibility for future values or market pricing of cryptocurrency or portfolios of cryptocurrencies. UBM is not broker, advisor or any kind party that could be treated as obliged to the Customer or to other user of the Platform in connection with any trading decisions. The Customer or other user of the Platform before registering on the Platform and or performing any actions on the Platform or making any decision should make personal legal and tax research, order professional consulting and advices by regard of his (her) residence, local laws, personal financial circumstances, risk tolerance and obligations. The Platform CAN NOT be treated as a business or investment instrument and can be used only for personal use. All names, labels or any graphic designations in relation to cryptocurrencies or portfolios of cryptocurrencies are made on the Platform for individualization purposes only and have no correlation to any investing indicators, prognosis or any personal investing choices or advices.
2. PAYMENT TERMS, FEES, AND TAXES.
2.1. UPFRONT FEES.
This Agreement and the provision of Services agreed to herein are subject to the Customer's satisfaction of an upfront payment of a fixed amount (“Upfront Fees”). The company UBM doesn't accept payments in cryptocurrencies and doesn't conduct exchange operations.
2.2. CLOUD MINING SERVICE FEES.
The Customer shall pay and owe UBM certain data center operations service fees (“Service Fees”) for use of the Services as described in this Agreement. UBM shall calculate and automatically deduct the Service Fees from Customer's Hash Rate Output on a daily basis. In the event that the Hash Rate Output for one or more days does not satisfy the Service Fees UBM may deduct the Service Fees from any subsequent Hash Rate Output during the Term of the Agreement and / or consider the specified Fee as the Customer's debt for the provided and received Services that the Customer is obliged to pay. Service fee is a subject to unilateral change by UBM.
2.3. BLOCKCHAIN TRANSACTION FEES.
The delivery and receipt of any of the Customer's digital assets is subject to network or transaction fees charged by the blockchain associated with the Customer-selected algorithm (“Blockchain Transaction Fees”). Blockchain Transaction Fees are paid to emit, record, verify, and process a transaction on the blockchain and not retained by UBM.
2.4. THIRD-PARTY FEES.
Certain digital wallets, wallet addresses, tools, and third-party software and devices, bank transfers (“Third-Party FEES”) used by the Customer may also charge Customer a fee, including a per transaction or transfer fee. Customer is responsible for being aware of and satisfying any such fee. Customer should note that any such fees may significantly reduce Customer's Hash Rate Output and therefore Customer is responsible for managing the selection, use, and rate and frequency of their delivery of Hash Rate Output to any such Third-Party Fees.
2.5. TAXES.
The Customer is responsible for any taxes, and the Customer will pay UBM for Services without any reduction for taxes. If UBM is obligated to collect or pay Taxes, Taxes will be invoiced to the Customer and/or deduced from the Customer's Hash Rate Output, unless the Customer provides UBM with a timely and valid tax exemption certificate authorized by the appropriate taxing authority. In some countries, states, and provinces, the sales tax is due on the total purchase price at the time of sale and must be invoiced and collected at the time of the sale. If the Customer is required by law to withhold any taxes from its payments to UBM, the Customer must provide UBM with an official tax receipt or other appropriate documentation to support such withholding. If under the applicable tax legislation, the Services are subject to local value added tax (“VAT”) and the Customer is required to make a withholding of local VAT from amounts payable to UBM, the value of the Services calculated in accordance with the above procedure will be increased (grossed up) by the Customer for the respective amount of local VAT and the grossed-up amount will be regarded as a VAT inclusive price. Local VAT amount withheld from the VAT-inclusive price will be remitted to the applicable local tax entity by the Customer and the Customer will ensure that UBM will receives payment for its services for the net amount as would otherwise be due (the VAT-inclusive price less the local VAT withheld and remitted to applicable tax authority). If required under applicable law, the Customer will provide UBM with applicable tax identification information that UBM may require to ensure its compliance with applicable tax regulations and authorities in applicable jurisdictions. The Customer will be liable to pay (or reimburse UBM for) any taxes, interest, penalties or fines arising out of any mis-declaration by the Customer.
3. CUSTOMER OBLIGATIONS.
3.1. ALGORITHM SELECTION.
The Customer is responsible for the selection of the algorithm and understands and accepts the risks associated with blockchain technologies, cryptographic currencies, and digital asset extraction.
3.2. LOG-IN CREDENTIALS.
The Customer represents and warrants that the Customer is responsible for the preservation of confidentiality of the Customer's login credentials. UBM log-in credentials and generated by the Services are for the Customer's internal use only and the Customer is strictly prohibited from selling, transferring, or sublicensing them to any other entity or person.
3.3. BLOCKCHAIN NETWORK RISK.
The Customer represents and warrants that the Customer accepts the risks of blockchain protocol and network, including instability, congestion, high transaction costs, network latency, information security, regulatory risk, and technological and operational error. The Customer understand that these risks may result in delay or failure to process transactions, failure to delivery Hash Rate Output, and high Blockchain Transaction Fees. The Customer represents that Customer understands and agrees that the Company is not responsible for any diminished Services, related features, or capabilities resulting from blockchain network risk. As provided in Section 1.4 (Hash Rate Output), in the event of a material increase or decrease to Blockchain Transaction Fees or operational degradation, congestion, failure or disruption otherwise of the blockchain network used by Customer, the Company may, at its sole discretion and upon notice to the Customer, increase or decrease the threshold to deliver the Customer's Hash Rate Output.
3.4. BLOCKCHAIN MODIFICATION RISK.
The Customer represents and warrants that the Customer is familiar with and accepts the risks associated with blockchain development and code changes, including the risks described in this Section 3.6. Blockchain technologies are still under development and may undergo significant changes over time. Blockchain developers may make changes to features and specifications of the algorithm selected by the Customer. Such changes may include or result in the elimination for support for and/or the efficient use of chips used by UBM. In addition, blockchain developers may also determiner to modify the cryptographic verification process such that the blockchains can no longer be verified through proof-of-work and instead adopt proof-of-stake methodologies.
3.5 . PROOF-OF-WORK REPLACEMENT RISK.
In addition to blockchain modification risk, blockchain developers may also determine to modify the cryptographic verification process such that the blockchains can no longer be verified through proof-of-work and instead adopt proof-of-stake methodologies. Customer accepts and acknowledges that in circumstances where the protocol of a given blockchain used by the Customer has been modified to only use proof-of-stake methodologies, the Customer accepts such risk.
3.6. TRADE COMPLIANCE.
In connection with this Agreement, the Customer agrees that the Customer will comply with all applicable import, re-import, sanctions, anti-boycott, export, and re-export control laws and regulations, including all such laws and regulations that apply to European Union and U.S. companies, such as the Export Administration Regulations, the International Traffic in Arms Regulations, and economic sanctions programs implemented by the Office of Foreign Assets Control and the European Union's Common Foreign and Security Policy (“CFSP”) (collectively, “Trade Sanctions Laws”). The Customer represents and warrants that the Customer and Customer's financial institutions, or any party that owns or controls the Customer or the Customer's financial institutions, are not subject to sanctions or otherwise designated on any list of prohibited or restricted parties, including but not limited to the lists maintained by the United Nations Security Council, the U.S. Government (e.g., the Specially Designated Nationals List and Foreign as Evaders List of the U.S. Department of Treasury, and the Entity List of the U.S. Department of Commerce), the European Union or its Member States, or other applicable government authority.
3.7. RESIDENCE.
The Customer is obliged to fill information about his (her) residence in his (her) personal account and agrees to cover all UBM losses for tax violations in case of breaching this clause.
3.8. IDENTIFICATION.
The Customer in purposes for accessing services on the Platform needs to provide UBM with truthful information about himself (herself) via the corresponding Customer' personal account or via other accessible ways - including but not limited via email request or mailing. UBM performs identification and security checks of information and documents provided due the Agreement and assigning the Customer the corresponding identification status as a result of identification and security checks. The Customer is solely responsible for ensuring that information set in his (her) personal account and provided by the Customer is true, complete and timely updated in case it was changed or outdated. UBM reserves the right to make additional requirements for information and documents to be provided by the Customer, including for their form, quality and content. UBM reserves the right to suspend personal account of part or all functionality without prior notification of the Customer in case of suspicion of unauthorized or fraudulent use of this personal account or connected accounts, violation of the provisions of the Agreement, attempt to fraud or malversation.
4. TEMPORARY SUSPENSION.
4.1. GENERAL.
UBM may suspend the Customer's right to access or use any portion or all of the Services immediately upon notice to the Customer if: (i) UBM determines the Customer's use of the Services poses a security risk to the Services or any third party, could adversely impact UBM's systems, the Services or any other UBM customer, could subject UBM, its affiliates, or any third party to liability, or could be fraudulent; (ii) the Customer is in breach of this Agreement; (iii) the Customer initiated a chargeback or dispute with respect to any payment or purchase of the Service; or (iv) the Customer has ceased to operate in the ordinary course, made an assignment for the benefit of creditors or similar disposition assets, or become the subject of any bankruptcy, reorganization, liquidation, dissolution or similar proceeding.
4.2. EFFECT OF SUSPENSION.
If UBM suspends the Customer's right to access or use any portion or all of the Services, the Customer may remain responsible for all fees and charges the Customer incurs during the period of suspension; and the Customer will not be entitled to any digital asset extraction results that may have occurred during the period the Customer's use of the Services was temporarily suspended.
5. TERM AND TERMINATION.
The term of this Agreement will commence on the Effective Date and will remain in effect until terminated under this Section.
5.1. AGREEMENT TERM.
The term of this Agreement will commence on the Effective Date and will remain in effect until the earlier of the date set forth in the Agreement Specifications or the date of a Termination for Breach, the conditions of which are set forth in Section 5.2 below.
5.2. TERMINATION FOR BREACH.
Either party may terminate this Agreement for breach if the other party is in material breach of the Agreement and fails to cure that breach within thirty days after receipt of written notice. In addition, in the event that UBM ceases its business operations or becomes subject to insolvency proceedings and the proceedings are not dismissed within ninety days, UBM may terminate the
Service. Breach of this Agreement is a basis for a ban of the Customer's personal account by UBM.
5.3. EFFECT OF TERMINATION.
The Termination Date, all of the Customer's rights under this Agreement immediately terminate and the Customer shall remain responsible for all Service Fees incurred through the termination date provided by UBM.
6. CONFIDENTIAL INFORMATION.
The Customer may not disclose Confidential Information, except to agents or professional advisors who need to know it and who have agreed in writing (or in the case of professional advisors are otherwise bound) to keep it confidential. The Customer shall ensure that those persons and entities use the received Confidential Information only to exercise rights and fulfill obligations under this Agreement, while using reasonable care to maintain the confidentiality of such information.
7 . PUBLICITY.
The Customer is permitted to state publicly that it is a customer of the Service, consistent with the Trademark Guidelines. If the Customer wants to display UBM in connection with its use of the Services, the Customer must obtain written permission from UBM through the process specified in the Trademark Guidelines. The Customer shall not issue any press release or make any other public communication with respect to this Agreement or the Customer's use of the Services.
8. REPRESENTATIONS AND WARRANTIES.
Each party represents and warrants that: (i) it has full power and authority to enter into the Agreement; and (ii) it will comply with all laws and regulations applicable to its provision, or use, of the Services, as applicable. UBM warrants that it will provide the Services in accordance with the applicable Service Level Agreement (if any).
9. DISCLAIMER.
EXCEPT AS EXPRESSLY PROVIDED FOR IN THIS AGREEMENT, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, UBM, ITS AFFILIATES, AND ITS SUPPLIERS DO NOT MAKE ANY OTHER WARRANTY OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE AND NON-INFRINGEMENT. UBM, ITS AFFILIATES, AND ITS SUPPLIERS ARE NOT RESPONSIBLE OR LIABLE FOR THE DELETION, FAILURE TO STORE, OR ANY LOSS OF ANY CUSTOMER DATA, INCLUDING BLOCKCHAIN DATA AND DIGITAL ASSET REWARDS DERIVED, MAINTAINED, OR TRANSMITTED THROUGH USE OF THE SERVICES. THE CUSTOMER IS SOLELY RESPONSIBLE FOR SECURING ITS CUSTOMER DATA AND DIGITAL ASSET REWARDS. NEITHER UBM, ITS AFFILIATES, NOR ITS SUPPLIERS, WARRANTS THAT THE OPERATION OF THE SOFTWARE OR THE SERVICES WILL BE ERROR-FREE OR UNINTERRUPTED. UBM, ITS AFFILIATES, AND ITS SUPPLIERS ARE NOT RESPONSIBLE OR LIABLE FOR ANY LOSSES OR OPPORTUNITY COSTS RESULTING FROM BLOCKCHAIN NETWORK AND PROTOCOL OR THIRD-PARTY SOFTWARE ISSUES, WHICH MAY IN TURN RESULT IN THE INABILITY TO PROCESS TRANSACTION ON THE BLOCKCHAIN AT ALL OR WITHOUT INCURRING SUBSTANTIAL FEES. WHEN USING ANY SERVICES ON THE PLATFORM, THE CUSTOMER UNDERSTANDS AND UNCONDITIONALLY ACCEPTS THAT:
a. UBM has unconditional right to modify and cancel without warning all the transactions and their results if the Customer does not comply with the terms of the Agreement or that are happened due to the Customer fraudulent activities or abuse of rights or Third party's or UBM's system failures or other events that led to UBM' or the Customer's unjust enrichment or income.
b. The Customer would abide by relevant laws and regulations to ensure that the sources of any digital information on the Platform that can be valued are legitimate and compliant when using the Platform.
c. When the Customer uses any services on the Platform, he (she) fully recognizes the risks of performing any transactions with using the Platform and operates cautiously.
d. UBM reserves the right to suspend or terminate the Platform at any time.
e. Due to network delay, computer system failures and other uncontrolled and unintended by UBM or Third party's events, which may led to delay, suspension, termination or deviation of execution of services that are performed on the Platform, UBM will use reasonable effort to ensure but not promise that the Platform execution system runs stably and effectively. The Customer agrees that UBM does not take any responsibility if the final execution fails to match the Customer's expectations due to the factors mentioned above.
f. Variations in computing power may be unavoidable due to network instability, mining equipment performance, and mining pool luck. UBM cannot guarantee 100% stability of mining.
10. LIMITATION OF LIABILITY.
10.1. LIMITATION OF INDIRECT LIABILITY.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, UBM, THE CUSTOMER, AND UBM'S SUPPLIERS, SHALL NOT BE LIABLE UNDER THIS AGREEMENT FOR LOST REVENUES, OPPORTUNITY COSTS, OR INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, EVEN IF UBM KNEW OR SHOULD HAVE KNOWN THAT SUCH DAMAGES WERE POSSIBLE AND EVEN IF DIRECT DAMAGES DO NOT SATISFY A REMEDY. THIS LIMITATION OF LIABILITY DOES NOT APPLY TO VIOLATIONS OF UBM'S INTELLECTUAL PROPERTY RIGHTS, THE CUSTOMER'S INDEMNIFICATION OBLIGATIONS TOWARDS UBM, OR THE CUSTOMER'S PAYMENT OBLIGATIONS.
10.2. LIMITATION OF AMOUNT OF LIABILITY.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, UBM OR UBM'S SUPPLIERS, MAY BE HELD LIABLE UNDER THIS AGREEMENT FOR MORE THAN THE 50% OF THE AMOUNT PAID BY THE CUSTOMER TO UBM UNDER THIS AGREEMENT, MINUS ANY CRYPTOCURRENCIES GENERATED OR RECEIVED BY THE CUSTOMER AS A RESULT OF THE CUSTOMER'S USE OF THE SERVICES.
11. INDEMNIFICATION.
Unless prohibited by applicable law, the Customer will defend and indemnify UBM and its Affiliates against any settlement amounts approved by the Customer and damages and costs finally awarded against the Customer and its affiliates by a court of competent jurisdiction in any formal legal proceeding filed by an unaffiliated third party before a court or government tribunal (including any appellate proceeding) to the extent arising from the Customer's use of the Services.
12. MISCELLANEOUS.
12.1. ASSIGNMENT.
The Customer will not assign or otherwise transfer this Agreement or any of the Customer's rights and obligations under this Agreement, without the prior written consent of UBM, which may be unreasonably withheld. Any assignment or transfer in violation of this Section 13.1 will be void. In addition, the Customer shall be the beneficial owner of any cryptocurrencies generated and/or received as a result of the Customer's use of the Services under this Agreement. UBM may assign this Agreement without the Customer's consent (i) in connection with a merger, acquisition or sale of all or a part of all its assets, or (ii) to any Affiliate or as part of a corporate reorganization; and effective upon such assignment, the assignee is deemed substituted for UBM as a party to this Agreement and UBM is fully released from all of its obligations and duties to perform under this Agreement. Subject to the foregoing, this Agreement will be binding upon, and inure to the benefit of the parties and their respective permitted successors and assigns. The Customer may not merge this Agreement with any other agreements with UBM it may be party to.
12.2. CHANGE OF CONTROL.
If a Customer experiences a change of Control (for example, through a stock purchase or sale, merger, or other form of corporate transaction): (i) the Customer will give written notice to the other party within thirty days after the change of Control; and (ii) UBM may immediately terminate this Agreement any time between the change of Control and thirty days after it receives that written notice.
12.3. DISPUTES.
Any dispute, controversy, difference or claim arising out of or relating to this Agreement or relating in any way to the Customer's use of the Service, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to the Agreement shall be referred to and finally resolved in the courts of the United Arab Emirates. If for any reason a claim proceeds in court rather than in arbitration, UBM and the Customer waive any right to a jury trial. Notwithstanding the foregoing UBM and the Customer agree that UBM may bring suit in court to enjoin infringement or other misuse of UBM's intellectual property rights. The law of this arbitration clause shall be the United Arab Emirates.
12.4. ENTIRE AGREEMENT.
This Agreement sets out all terms agreed between the parties and supersedes all other agreements between the parties relating to its subject matter. In entering into this Agreement, neither party has relied on, and neither party will have any right or remedy based on, any statement, representation or warranty (whether made negligently or innocently), except those expressly set out in this Agreement.
12.5. FORCE MAJEURE.
UBM and its affiliates will not be liable for any failure or delay in performance of obligation under this Agreement where the failures or delay results from any cause beyond our reasonable control, including, but not limited to, acts of God, labor disputes or other industrial disturbances, electrical or power outages, utilities or other telecommunications failures, earthquake, storms or other elements of nature, blockages, embargoes, riots, acts or orders of government, acts of terrorism, or war. Force Majeure events include, but are not limited to, upgrades to the validation rules of a given blockchain (e.g., a “hard fork” or “soft fork”). UBM protects safety of the Customer by reserving a right to buy-back digital assets in case of the situation, when authorities of the Customer's State of residence prohibit using of cryptocurrencies, mining or blockchain technology. UBM creates extra guarantees for the Customer by reserving a right to buy-back digital assets in case of any situation, including even force majeure situations defined above.
12.6. GOVERNING LAW AND VENUE.
All claims arising out of or relating to this Agreement or the Services will be governed by the laws of the United Arab Emirates, excluding the Country's conflicts of laws rules, and will be litigated exclusively in the courts of the the United Arab Emirates. The 1980 United Nations Convention on Contracts for the International Sale of Goods does not govern this Agreement.
12.7. LANGUAGE.
All communications and notices made or given pursuant to this Agreement must be in the English language. If we provide a translation of the English language version of this Agreement, the English language version of the Agreement will control if there is any conflict.
12.8. NO AGENCY.
This Agreement does not create any agency, partnership or joint venture between UBM and the Customer.
12.9. NOTICES TO CUSTOMER.
UBM may provide any notice to the Customer under this Agreement by: (i) posting a notice on the UBM website; or (ii) sending a message to the email address then associated with the Customer's personal account. Notices we provide by posting on the UBM website will be effective upon posting and notices we provide by email will be effective when we send the email. It is the Customer's responsibility to keep the Customer's email address current. The Customer will be deemed to have received any email sent to the email address then associated with the Customer's personal account when UBM sends the email, whether or not the Customer actually receive the email.
12.10. NOTICES TO UBM.
To give us notice under this Agreement, the Customer must contact UBM by facsimile transmission or personal delivery, overnight courier or registered or certified mail to the mailing address listed for the applicable UBM entity on the UBM website. We may update the address for notices to us by posting a notice on the Platform. Notices provided by personal delivery will be effective immediately. Notices provided by overnight courier will be effective one business day after they are sent. Notices provided registered or certified mail will be effective five business days after they are sent.
12.11. LEGAL PROVISIONS.
Buying a mining contract or other purchases performed on the Platform should not be contrary to the laws of the country in which the Customer is a resident. The Customer pays independently all tax payments stipulated by the legislation of the country of the Customer. The Customer is responsible for all tax deductions. The Customer is informed that he (she) is not allowed to perform purchases on the Platform using debit/credit cards that do not belong to the Customer without notarized permission of the legit cardholder that might be requested at any time by UBM.
12.12. SEVERABILITY.
If any portion of this Agreement is held to be invalid or unenforceable, the remaining portions of this Agreement will remain in full force and effect. Any invalid or unenforceable portions will be interpreted to effect and intent of the original portion. If such construction is not possible, the invalid or unenforceable portion will be severed from this Agreement but the rest of the Agreement will remain in full force and effect.
13. PROMOTION.
13.1. PERSONAL DATA USE.
The Customer gives UBM an unconditional consent for using Customer's email and cell phone for making calls, sending emails and messages to Customer with promotional purposes, offers, getting Customer's feed-back on satisfaction by the Services.
Changes to the Terms & Conditions
We may update our Terms & Conditions from time to time. Thus, you are advised to review this page periodically for any changes. We will notify you of any changes by posting updates on this page.
These Terms are effective as of 2023-11-01
Contact Us
If you have any questions or suggestions about our Terms and Conditions, do not hesitate to contact us at info@ubmining.com.