Terms and Conditions of XoticXchange.com
XoticXchange.com is operated and payment services are provided by XoticXchange.
The source of funds used for payment transactions and the purpose of desired payment transactions must not be restricted or otherwise prohibited by all applicable anti money laundering laws and regulations. Payments are final and not reversible except as provided in Terms and Conditions.
No 3rd party payments will be accepted. USERS ARE NOT ALLOWED TO HAVE OTHER PERSONS SEND FUNDS FROM THEIR BANK ACCOUNTS TO USERS PAYMENT ACCOUNTS.
XoticXchange may at its sole discretion return received funds less fees and administration costs in following cases:
- Purpose of payment (Memo, Payment info) in the invoice is missing.
- Funds were sent from an account under different name (name does not match user’s name).
- 3rd party payment (someone else sent funds from bank account to user’s payment account and vice versa).
- There is a reasonable suspicion that source of received funds do not comply with applicable anti-money laundering laws and regulations.
- User refuses to submit required verification documents as described in the Payment Service Contract, or verification of the user’s identity fails.
- There is a reasonable suspicion that verification documents are counterfeit – invalid or illegally modified
All users submitting their first order, or submitting an order from a new IP address (unrecognized IP address), or all users sending funds in excess of aggregate amount grater than 200USD regardless of time the number of payments the amount is divided, will be asked to undergo verification procedure upon receipt of funds by XoticXchange:
- User will be asked provide copy of valid identity card, which must include users’s signature and image allowing visual identification. If identification card does not include user’s signature and/or image, user will be asked to also email scanned copy of valid passport.
- User will be asked to provide a scanned copy of recent bank statement (not more than three months)or other supporting documents proving current address of residence.
- User’s IP address recorded at the time of the order must match the area of user’s residence and identification card’s or passport’s issuance (order’s made from a different country, state, province or region will not be accepted).
- Payment orders made through anonymous proxy server, anonymous internet connection, anonymous VPN connection, anonymous AOL connection or any kind of anonymous Internet connection will not be accepted.
- In addition, User sending funds on behalf of a company or organization will be asked to provide official documents proving the existence of a company or organization (e.g. extract from commercial registry) and documents proving the authority of the user to dispose of the funds (being the director or executive of the company, providing registration documents or valid company’s register record, for other users a power of attorney to dispose with the funds is required).
- User may be asked to provide additional unspecified documents or evidence for the verification purposes.
User has to provide requested documents in 10 days after the first order is placed. If user is not able to provide requested documents or the verification fails, funds will be sent back to payer’s account less fees and administration costs. In cases stipulated under applicable anti money laundering laws, namely if there is a reasonable suspicion of money laundering, attempt to defraud, attempt to send fraudulent funds, attempt to counterfeit personal documents or attempt to send already returned funds, all gathered information about user and ordered payment transactions will be reported to designated official authority .
The user is solely responsible to provide valid and accurate information needed to complete and execute payment transactions. XoticXchange takes no responsibility for the payment transaction if the instructions provided by user are incorrect. Users must be aware that transfer of money into wrong bank or payment account due to incorrect payment instructions given by the user are not reversible and XoticXchange takes no responsibility for such payments.
Any tax consequences of payment transactions are the sole responsibility of the user with the exceptions under applicable tax laws (e.g. withholding tax if applicable).
XoticXchange.com orders are binding contracts between the user and XoticXchange. User’s payments must be of the exact amount specified in the user’s order.
If the user remits less than the amount of funds necessary to fulfill their order, or if an insufficient amount is received due to deducted bank fees or for any other reasons, then XoticXchange, at its sole discretion, will adjust the user’s order to the exact amount of funds received. If the user sends funds exceeding amount in the associated order, the user will be required to enter new order for the difference or the difference will be returned to the user, less the fees and administration costs. If the user remits funds via XoticXchange.com site to bank accounts operated by XoticXchange without previously making an order with XoticXchange.com, the user will be asked to enter a new order for the amount sent to XoticXchange.com or funds will be returned back to user’s bank account less the fees and administration costs.
Users must supply a valid e-mail address and telephone number so that XoticXchange can verify order details, if necessary.
XoticXchange reserves the right to cancel pending orders that are older than 24-48hrs.
This service is independently operated and is neither endorsed by nor affiliated with any digital currency operators.
All transactions into or out of or between accounts of digital currency operators are subject to the terms and conditions of those operators. XoticXchange is not responsible for delays or failures in the transmission, receipt or execution of orders, remittances, payments, or information due to events or systems beyond its control.
XoticXchange, its owners, employees, agents or affiliates will not be responsible for any loss, damage or injury resulting from any event or system beyond its control. XoticXchange will not execute any payment transactions ordered by the user if the user uses, or attempts to use XoticXchange.com service in connection with tampering, modifying or otherwise corrupting the security or functionality of the XoticXchange.com services.
The information on this website is provided on an ”as is” basis. XoticXchange:
- (a) excludes all representations and warranties relating to this website and its contents, including in relation to any inaccuracies or omissions in this website .
- (b) excludes all liability for damages arising out of or in connection with your use of this website .
This includes, without limitation, direct loss, loss of business or profits (whether or not the loss of such profits was foreseeable, arose in the normal course of things or you have advised XoticXchange.com of the possibility of such potential loss) or any indirect, consequential and incidental damages. XoticXchange may make changes to the contents of this website, including to the description prices and fees for services advertised, at any time and without notice. User may create a link to any page of this website without the XoticXchange ’s prior written consent. Creation of a link to a page of this website by the user is solely at user’s own risk and the exclusions and limitations set out above will apply to user’s us of this website by linking to it. XoticXchange does not monitor or review the content of other party’s websites which are linked to from this website. Opinions expressed or material appearing on such websites are not necessarily shared or endorsed by XoticXchange and XoticXchange should not be regarded as the publisher of such opinions or material. If any of these terms are deemed invalid or unenforceable for any reason, (including, but not limited to the exclusions and limitations set out above) then the invalid or unenforceable provision will be severed from these terms and the remaining terms will continue to apply.
The Payment Services Contract and the Terms and Conditions shall be governed in accordance with the Nigerian Laws. The parties agree to irrevocably submit to the exclusive jurisdiction of the Nigerian courts.