KangaPay Terms of Use

§ 1. Preamble
  1. The KangaPay Terms of Use as a method of payment define the rights and obligations of the parties in reference to the transactions that are carried as part of the online services in which the holder of the service decides to make the functionality available and in which the user decides to make use thereof.
  2. The entity which provides the KangaPay service is Good Solution Investments Limited, located at Cromwell House, Ground-Floor, 117 Albert Street, Belize City, Belize. The provider of the service can be contacted at the following e-mail address: [email protected] For the purposes of the below Terms of Use the provider of the service will be referred to as the ‘Administrator’.
§ 2. General Provisions
  1. For the purpose of simplifying the use of the below Terms of Use such terms as the ‘Seller’ and the ‘Buyer’ (meaning the ‘Users’) will be used to reflect the role of each party in the business transaction for whom the Administrator provides the service in the form of a payment method. Providing that it is a technical functionality and the relations between the parties may differ from the above definition, hence, a buy/sell transaction will not always take place, although other transactions may also take place, e.g. donation. The above-mentioned terminology will nonetheless be adhered to in these Terms of Use for clarity,
  2. Definitions:
    • Administrator – Good Solution Investments Limited;
    • API – a set of rules that enables the transmission of data between applications;
    • Seller – the entity, being a natural person, legal person or organizational unit without legal personality who offers their products (goods or services) and who enables payments to be received in cryptocurrencies with the use of KangaPay or other entity who makes use of this method of payment as a service;
    • Cryptocurrency – payment tokens which are in circulation on cryptocurrency exchanges;
    • Buyer – the entity, being a natural person, legal person or organizational unit without legal personality, who makes a transaction of transferring cryptocurrencies with the use of KangaPay functionality;
    • Products – goods and services offered by the Seller;
    • KYC/AML – a set of actions in result of which information on the specific users are obtained. The actions are carried in order to establish the financial security measures adequate for a given business relation and to assess the risk related to counteracting money laundering and the financing of terrorism, considering the specific types of risks;
    • User – the person who makes use of KangaPay;
    • Fiat currency – legal tender issued by the appropriate state or international institutions.
  3. 3. With respect to the interpretation of the provisions in these Terms of Use:
    1. References to a ‘Section’, ‘Paragraph’, ‘Item’ or ‘Letter’ are references to the editorial unit of these documents;
    2. Headers are only used for keeping the formal nature and may only affect the interpretation of the Terms of Use in a subsidiary manner;
    3. Reference made to the document means a reference to the appropriate document along with its further amendments and modifications, unless the contents of the reference state otherwise;
    4. Apart from the situation where it is required otherwise in the specific context, when used in the Terms of Use:
      1. the terms which define one gender shall include all genders;
      2. the terms which define a singular shall also include the plural of the referred term and the terms which define the plural will also include the singular of the referred term,
      3. terms beginning with capital letters shall have the meanings defined in Paragraph 2.3 of these Terms of Use.
§ 3. The KangaPay Service
  1. The KangaPay service consists in a functionality which enables sending and receiving payments (the so-called method of payment).
  2. With the use of the KangaPay service the User has the possibility to pay for a product offered by the Seller in the cryptocurrency preferred by the Buyer, and the Seller has the possibility to receive the payment in the cryptocurrency of their own choice.
  3. The Administrator will not at any moment be in the possession of the fiat currency nor be providing the service of transferring the fiat currency between the Seller and the Buyer. The functionality of KangaPay may only be used for cryptocurrencies. In order to sell the obtained cryptocurrencies the Users must use another service, which is not available as part of the KangaPay service.
§ 4. KangaPay Service Terms of Use
  1. The KangaPay functionality is available as one of the additional services provided as part of https://trade.kanga.exchange.
  2. The KangaPay service can be accessed by using a public and a private key – the private key enables the communication with the Administrator’s server to be authorized, hence, the private key should be protected against being accessed by third parties. For the Seller to use the service it is required that they go through the KYC/AML procedure at https://trade.kanga.exchange. Once the procedure is completed, you should enter your profile at the Service and fill out the form available under KangaPay tab. Once the form is accepted by the Administrator, you will receive a public and a private key, which should be used to communicate based on the API of the Administrator’s service. The Seller may then add the functionality to their service and use it as a method of payment.
  3. Accessing the KangaPay service by the Buyer is possible if they can see such a method of payment on the Seller’s service. The Buyer must have an account at https://trade.kanga.exchange. The Buyer may generate a one-time code in their profile and use it later in order to make their payment to the Seller.
  4. The Seller declares that:
    1. they are aware of the method of taxation for cryptocurrencies in the country they operate in, including the fact that in principle receiving payments for their products in cryptocurrencies does not exempt them from the obligation to declare tax and depending on the method of taxing their business activity the tax may also be applicable on current basis and not only on yearly basis as their capital gain;
    2. in case of any doubts with respect to the taxation they shall contact a tax advisor in order to settle their public-law liabilities in the accurate manner;
    3. they act on their own behalf and for their own benefit, and in particular they are not an entity, or they do not act on behalf of a person or entity who is a citizen or resident of countries whose law limits or forbids participation in procedures related to cryptocurrencies;
    4. they are familiar with the scope of services provided by the Administrator, as well as obtained all necessary information and details which they deem sufficient for making a decision to accept these Terms of Use and they have wide knowledge in terms of the operation, use or functionality of the blockchain based software;
    5. they are aware that KangaPay only functions as a method of payment and that the Administrator is not a so-called institution obligated towards the Seller’s clients (i.e. the Buyers) as part of a business relation that exists between the Buyer and the Seller;
    6. in relations to a contract being made with the Administrator, on the basis of which cryptocurrency units are transferred from the Buyer to the Seller, the Seller will receive an equivalent amount, hence it is agreed that the Seller is not entitled to any additional claims, including any claims resulting from transactional fees or changes in the exchange rates on the transferred cryptocurrencies;
    7. they accept the provisions of these Terms of Use in full, without any reservations or additions.
  5. In relations to entering in an agreement with the Seller, the Administrator shall carry a verification of the Seller, using the KYC/AML procedure, defining the levels of verification and the documents necessary for the completion of the verification. According to the legal requirements the Administrator shall carry a second verification of the Seller in case a necessity for such verification of the Seller occurs, in accordance with the Administrator’s internal security procedure. The additional verification may consist in the necessity to send other documents that would confirm the identity of a given Seller.
  6. The agreement is entered into for an indefinite period of time. The User may terminate the agreement by sending an e-mail notification to the Administrator’s e-mail address or the Administrator may store the details necessary for identification in case there occur any claims or requests from authorized institutions.
  7. The User undertakes to use the KangaPay service in line with its purpose, with the applicable regulations, acceptable social means of compliance and with the provisions of these Terms of Use, in particular they undertake to use the KangaPay service solely to pay for products (offers of such products) in line with the generally applicable provisions of the law, that do not infringe the rights of third parties and that do not mislead the Users. The User is obligated to protect all their passwords, logins and private keys that give access to the cryptocurrencies transferred to them against them being accessed by third parties and is subject to the prohibition of sharing any contents of illegal nature.
  8. Responsibility for any effects resulting from a third party obtaining access to the User’s passwords, keys or any other details that would enable them to access the cryptocurrencies owned by the User shall not rest on the Administrator.
  9. The Administrator does not process or store access details which enable the management of the cryptocurrencies transferred to the Seller, i.e. the cryptocurrencies which are not within the scope of Kanga Wallet functionality, including the Seller’s private keys in the event the Seller transfers them to their private wallet. The Seller is obligated to protect the above-mentioned access details, as it is not possible for the Administrator to retrieve them once they are lost.
  10. The Administrator reserves the right to terminate the agreement with immediate effect for a good reason, in particular in case of breaching the crucial provisions of these Terms of Use, which in particular include disseminating information that would affect the Administrator’s business activity unfavorably, as well as in case there is a suspicion of a crime being committed by the User, in particular the crime of money laundering and the financing of terrorism, or a crime against property (a fraud or other crime).
  11. The conditions for carrying a buy/sell transaction between the parties in the transaction with the use of the KangaPay functionality as the only method of payment may be regulated by separate regulations that will be made available by the Seller in their Service.
  12. Transferring cryptocurrencies is an automated and immediate event. However, the period for completing the transfer may be longer in case of any technical breakdowns.
§ 5. Technical Requirements
  1. To be able to use the service the User should have devices that enable the use of an Internet network, an established network connection, a browser that supports viewing websites, e.g. Internet Explorer version 5.5 or higher, or Opera version 7 or higher, or Firefox version 1 or higher, or Google Chrome version 5.0 or higher, or Safari version 5 or higher, with enabled cookies, one which supports encrypted SSL connection and JavaScript, and have an active e-mail account to be used with specific services and any PDF (Portable Document Format). files reader.
  2. The Administrator reserves the right to make changes to the technical requirements necessary for the services to be provided.
  3. The Administrator is not accountable in the event that the Seller or their clients, i.e. the Buyers, fail to meet the technical requirements listed in these Terms of Use.
  4. The Administrator makes the provision that using the service may be linked to a technical risk, conventional whenever IT systems are being used. The Users should protect their electronic connection and their devices against unauthorized access, in particular by installing the anti-virus software on their devices.
  5. The Administrator guarantees that the use of the service by the User will be protected in a way as to make it impossible for unauthorized persons to access the contents of the transaction that is part of the service, in particular with the use of cryptographic techniques adequate to the nature of the provided service.
§ 6. Sanctions and Complaints
  1. Breaching the provisions of these Terms of Use may result in the termination of the agreement for providing the services.
  2. Any User using the KangaPay service may file a complaint to the Administrator’s e-mail address. The complaint must include:
    1. the details of the person or the entity filing the complaint;
    2. the indication of the transaction to which the complaint refers (who was the Buyer and who was the Seller);
    3. which service the transaction was carried;
    4. date and time of the transaction;
    5. what the encountered issue was (what the complaint concerns).
  3. The Administrator shall notify the complaining party in an electronic form (e-mail) about the fact that the complaint was settled within 30 (thirty) business days from receiving the complaint. The reply to the complaint shall be sent to the complaining party to the address provided by them in the complaint. The Administrator reserves the right to extend the above-mentioned deadline maximally by another 30 (thirty) business days in the event settling the complaint requires additional information or if any obstacles independent of the Administrator occur, in particular hardware failures or Internet network failure, or the occurrence of a broadly understood force majeure. Moreover, the Administrator makes the provision that settling the complaint may require the complaining party to provide additional clarification – the time for replying to each of such requests will accordingly extend the deadline for settling the complaint.
  4. Sending the complaint by the complaining party in an electronic form is equivalent to giving consent to having a reply to the complaint sent in an electronic form by the Administrator.
§ 7. Final Provisions
  1. The Administrator is entitled to change the Terms of Use, in particular in order to adjust the Terms of Use to the currently applicable law or to the newly introduced functionalities. The Administrator shall inform about the changes to the Terms of Use in a visible location or through an electronic message directed to the Users. Lack of objections to the content of the changes shall be treated as an acceptance thereof.
  2. In case there is no legal basis for any of the clauses included in these Terms of Use or any of the clauses is incomplete, it does not entail that the full Terms of Use shall become null and void. Such provisions shall be changed to those which shall convey the idea and the purpose of the current provisions in the most accurate way.
  3. In relation to using the KangaPay services the User is obligated to establish the method of taxation applicable in their own country and under which law the transactions will be taxed, and to pay any potentially required public-law liabilities to the adequate Tax Office. The Administrator shall not be accountable for any taxation inadequately applied by given Users as a consequence of their using the KangaPay service.
  4. The provisions of these Terms of Use and all disputes between the Administrator and the User are subject to the applicable law of the country of the Administrator’s seat and subject to the courts having jurisdiction over the Administrator’s seat, unless it is unacceptable on the basis of the local law due to the fact that the User has the status of a consumer; in that case the disputes will be settled by the Court having the subject-matter and territorial jurisdiction in line with the provisions of the appropriate law.
  5. The User acknowledges and accepts the fact that the Administrator has the right to move the rights and obligations resulting from the application of the provisions of these Terms of Use to another entity, another person or third party, or to change the Administrator company which provides the services. This does not exempt the current Administrator from the joint liability for their obligations towards the User.
  6. In matters not regulated by these Terms of Use, especially in terms of personal data protection and KYC/AML the appropriate provisions included in the Terms and Conditions and the Privacy Policy, which are available at https://trade.kanga.exchange, will be used.
  7. The Administrator has the right to stop or limit the provision of the service temporarily or permanently. In particular, the Administrator has the right to carry all works that are aimed at restoring the security and stability to the IT system.