The products offered by the Company are complex in their nature and not appropriate for everyone. You may lose some or all of your money. Read our Risk Information and Terms of Use for more information on associated risks.

Terms of Use

Terms of Use

Last updated: March 2021

Please read these Terms of Use carefully before participating on the CloseCross Prediction Market Platform. These Terms tell you who we are, what we offer and what to do if there is a problem and other important information. If you think that there is a mistake in its terms, please contact us to discuss at [email protected].

  1. Acceptance of Terms
  2. The Platform
  3. User Account
  4. Funding your account
  5. Placing predictions
  6. Withdrawing funds
  7. Facilitation Fees
  8. Eligibility and trading rules
  9. Introducers / Affiliates
  10. Suspicious Activity
  11. Data sources
  12. Platform Errors
  13. Disclaimers
  14. Limitation of Liability
  15. Regulatory Risks
  16. Indemnity
  17. Information we collect about you
  18. Licenses and Access
  19. Viruses, bugs and security vulnerabilities
  20. Rules about you linking to our site
  21. Termination
  22. Force Majeure
  23. Responsibility to secure your cryptographic assets
  24. Tax Liabilities
  25. No Advice
  26. Miscellaneous
  27. How to resolve complaints
  28. Investor Compensation Scheme
  29. Governing Law and Dispute Resolution
  1. Acceptance of Terms

    1. These Terms of Use(the "Terms") are a legally binding agreement between you and CloseCross MaltaLimited ("CloseCross", "We", "Our" or "Us"), a Company incorporated in Malta with registration numberC92480, whose registered office is located at 171, Old Bakery Street, Valletta VLT1455, Malta. It governs your use of CloseCross' sites, services, mobile apps, software, products, tools, smart contracts, materials and content, including the CloseCross Prediction Platform (altogether, the "Services").
    2. CloseCross Malta Limited holds a Category 2 investment services licence issued by the MFSA in terms of the Investment Services Act. CloseCross Malta Limited qualifies as a MiFID investment firm under Directive 2014/65/EU and is authorised to provide the service of execution of orders to Retail Clients, Professional Clients and Eligible Counterparties.
    3. Reference to "you", "your", "user" or "participant" is a reference to any person using the "Site"(located at www.closecross.com) or the Services and/or any registered userof CloseCross.
    4. Reference to the "Platform" is a reference to the graphical user interface, algorithms and smart contracts of the CloseCross predictions system
    5. We reserve the right to amend or update the Terms from time to time at our sole discretion due to changes to the Services, our technology, regulation and for other reasons. If we do, the updated version of the Terms will be made available on our website and display a new "Last Updated" date (the "Posting Date") just below the title heading of the Terms. We therefore encourage you to check our website from time to time to ensure that you are kept up-to-date. Any updated version of the Terms will become effective on the 7th day following the Posting Date (the "Effective Date") and will thereafter apply to your use of the Services. Amendments addressing new functions of the Services or amendments made for legal reasons or due to force majeure may become effective prior to the Posting Date where we consider that doing so is commercially, legally or practically sensible or unavoidable. Your continued use of the Services following the Effective Date will constitute your acceptance of the updated version of the Terms. If you do not agree to an updated version of the Terms, you must immediately discontinue using the Services. Every time you wish to use the Services, please check and ensure that you are in agreement with the latest updated version of the Terms.
    6. We may terminate or suspend your access to CloseCross' Services, without prior notice or liability, if you breach any part of the Terms. Upon termination of your access, your right to use the Services will cease immediately.
    7. You may have been recommended to use the Services and to participate in the Platform by a third party. We shall not be liable for any agreement or terms that may exist between you and the respective third party.
    8. By using the Services, you agree to be legally bound by these Terms, together with the Cookie Policy, the Privacy Policy and the Virtual Prediction Floor Rules, as incorporated herein by reference, as amended from time to time. In addition, CloseCross has a Conflicts of Interest Policy and Best Execution Policy which are available here. You should note in particular that under CloseCross's Best Execution Policy, (a) we seek to, in so far as possible, execute transactions in accordance with your instructions and (b) you orders may be executed outside a regulated market or multilateral trading facility. If you do not agree with these Terms and each of these Policies, you must not use the Services.
  2. The Platform

    1. CloseCross operates the CloseCross predictions platformVPF (Virtual Prediction Floors).
    2. The Platform allows users to participate in information prediction markets ("VPF" or "Virtual Prediction Floors") curated by CloseCross about topics of interest to persons primarily in the financial, and economic industries.
    3. The Platform sources event/asset based data from reliable 3rd party providers. Each data provider is backed up by a secondary data provider within the same data categorisation in the unlikely case that the primary data provider may fail.
    4. The Platform consists of a graphical user interface ("GUI"), which facilitates a user interacting via an ERC20 compatible digital wallet (a "Wallet") and a state channel (the "TradingAccount") for quicker transactions, with the VPFs hosted in the smart contracts developed and deployed by CloseCross Limited on the Ethereum Blockchain's Mainnet.
    5. A Virtual Prediction Floor is a combination of an event or asset class together with a maturity period. Each VPF has its own unique identifier. For example, Dow Jones in 1week, Dow jones in 2 months,or Gold in 24hours.
    6. A VPF consists of an event/asset class, start date/time, closing date/time, outcome date/time, maturity period, outcome options, starting beta (or "Rewards Multiplier") and primary and secondary data source providers. All VPF related data is the same for all userswho can view or interact with that VPF.
      1. Event/asset relates to financial assets such as, but not limited to;Stocks, commodities, indexes, cryptocurrencies, Forex.
      2. Start date/time is the date/time that the VPF will begin.
      3. Closing date/time is the date/time that the VPF will no longer accept predictions ("Commitments").
      4. Outcome date/time is the date/time in which the VPF will mature and is the date/time of the winning result.
      5. The delta between the start date/time and outcome date/time is the maturity period.
      6. Outcome options are the finite options that can be true for that event/asset at maturity time and that the user can select to place a prediction on. Outcome options are mutually exclusive i.e. no 2 options can overlap.
      7. Starting Beta is the value in which the Rewards Multiplier will start and decline to 1. No matter what number the Rewards Multiplier starts at, it will always end at 1 at closing date/time.
    7. Trading our VPFs is high risk and can result in losses. Although you could lose your entire investment, you will never lose more than the total sum you have invested in a VPF. Therefore it will not be appropriate for everyone. We would expect our services to be used by people who:
      (a) understand the impact of and risks associated with trading in derivative products;
      (b) have a high risk tolerance;
      (c) are trading with money they can afford to lose;
      (d) generally want to gain short term exposure to financial instruments; and
      (e) have a diversified investment portfolio.
  3. User Account

    Registration
    1. In order to participate in any Services, you will need to open an account with CloseCross ("Account").
    2. All applicants must be over 18 years of age or of the minimum legal age in their country of residence and of legal capacity to register with CloseCross and open an Account. CloseCross reserves the right to ask for proof of age, identification and other due diligence documentation from any user and suspend his/her Account until satisfactory documentation is provided.
    3. Access to our Services is at our sole discretion and contingent upon successful completion of onboarding processes, which includes verification of your identity and source of funds, as well as a sanctions list check, politically exposed persons (PEP) check and additional information we may request from time-to-time.
    4. We reserve the right, in our sole discretion and for whatever reason, to limit participation in the Platform to a specified number of users, refuse to allow a user from participating in the Platform; and/or remove or exclude any user from participating in the Platform.
    5. In order to open an Account, you will be asked to provide CloseCross with accurate, current and complete personally identifiable information. The information we request may include, without limitation, information such as name, address, telephone number, email address, date of birth, official government-issued photo identification and bank account information ("User Account Information"). In providing this information to us you represent that it is accurate and agree to update your User Account Information promptly, but in no event later than 30 days following any change in your User Account Information. Failure to provide this information or update it promptly may result in certain Blockchain Services being unavailable to you.
    6. If we open an Account for you, we will generally classify you as a Retail Client for the purposes of the MFSA rules. Retail Clients are afforded the highest level of protection under the regulatory system. You may request to be re-classified as a Professional Client which, subject to you satisfying relevant MFSA requirements, will result in the loss of certain regulatory protections. We are not obliged to accept any such request; however, where we do, we will provide you with a written notice of the protections and compensation rights you could lose, in accordance with the Applicable Law, and some additional terms and conditions that will apply to you.
    7. By completing the registration process, you represent and warrant that:
      1. you are over 18 years of age or of the minimum legal age in your country of residence and you agree to provide legitimate and lawful documentation proving such status if requested or required by CloseCross;
      2. you are fully able and competent and of legal capacity to enter into the Terms of Use and to use the Services;
      3. you are eligible to participate in cryptocurrency based activities and prediction market activities under the laws of any jurisdiction to which you may be subject;
      4. you are neither on any Sanctions List, the U.S. Treasury Department's Office of Foreign Asset Control's sanctions lists, the U.S. commerce department's consolidated screening list, the EU consolidated list of persons, groups or entities subject to EU Financial Sanctions, nor do you act on behalf of a person sanctioned thereunder or a HMT, U.S., EU- or UN-sanctioned state;
      5. you are neither a citizen or resident of, nor currently located in any of the states or territories listed as barred under the FATF and EU blacklist databases
      6. you have read and understood these Terms and agree to be bound by them;
      7. you do not rely on, and shall have no remedy in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Terms;
      8. your usage of our Services is legal under the laws of your jurisdiction or under the laws of any other jurisdiction to which you may be subject;
      9. you understand the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic assets (such as USDC), token storage facilities (including Wallets), blockchain technology and blockchain-based software systems;
      10. you understand that transactions on the Ethereum Blockchain are irreversible and may not be erased and that your Wallet address and transaction is displayed permanently and publicly and that you relinquish any right of rectification or erasure of personal data;
      11. you shall comply with any applicable tax obligations in your jurisdiction arising from your use of the Services;
      12. you shall not misuse or gain unauthorised access to our Services by knowingly introducing viruses, cross-site scripting, Trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect our Services and that in the event you do so or otherwise attack our Services, we reserve the right to report any such activity to the relevant law enforcement authorities and we will cooperate with those authorities by disclosing your identity to them and suspending your right to use the Services immediately;
      13. you shall not access without authority, interfere with, damage or disrupt any part of our Services, any equipment or network on which our Services is stored, any software used in the provision of our Services or any equipment or network or software owned or used by any third party;
      14. you shall not use our Services for activities that are unlawful or fraudulent or have such purpose or effect or otherwise support any activities that breach applicable local, national or international law or regulations;
      15. you shall not use our Services to trade cryptographic assets that are proceeds of criminal or fraudulent activity;
      16. you understand that the Services and the underlying Ethereum Blockchain are in an early development stage and we accordingly do not guarantee an error-free process and give no price or liquidity guarantee;
      17. you are using the Services at your own risk;
      18. you understand the inherent risks associated with cryptographic systems; and warrant that you understand the usage and intricacies of public/private key cryptography, cryptographic tokens and coins, smart contract based systems and blockchain-based software systems;
      19. you understand and accept the risk that, by using the Services, you may win but may also lose money; and
      20. you have not had an Account closed by CloseCross due to breaching these Terms.
    8. You may establish, maintain, use and operate only one Account at any time (the account must be unique, including but not limited to unique IP, address, name, email, mobile, payment method). In the event CloseCross determines that you have opened, maintained, used or operated more than one Account, in addition to any other rights that CloseCross may have, CloseCross reserves the right to suspend or terminate any or all of your Accounts and terminate, withhold or revoke the awarding of any prizes, free trades, bonuses or profits gained.
    9. CloseCross reserves the right to suspend or terminate any other account which it suspects or identifies as being either linked or associated with you.

    10. Account Password and Security
    11. When registering an Account, you will be asked to choose a username and password combination to be used in conjunction with your Account. You may not use a username that promotes a commercial venture or a username that CloseCross, in its sole discretion, deems offensive.
    12. You are responsible for:
      1. maintaining the confidentiality of your username and password associated with your Account;
      2. all uses of your Account where your username and password has been entered correctly (whether authorised or unauthorised); and
      3. the security of your access device(s) used to participate in any VPFs or place any predictions via your Account and any other activities taking place on your Account.
    13. You agree to:
      1. keep your username and password confidential and not share them with anyone else (and you acknowledge your Account cannot be co-owned with anyone else);
      2. immediately notify CloseCross of any unauthorised use of your username and password or Account or any other breach of security; and
      3. use only your own username and password to access the Service.
    14. You acknowledge and agree that CloseCross is authorised to act on instructions received through the use of your username and password.
    15. CloseCross cannot and will not be liable for any loss or damage arising from your failure to comply with this clause 4.
    16. Circumstances may arise where CloseCross may: (i) require you to change your username; or (ii) itself change your username: in either event, CloseCross will promptly inform you of its decision, and, where possible, the reason for the changes to your username, using your Registration Details.

    17. Communications and Information Practices
    18. As part of the Account registration process, you will be given the opportunity to receive marketing communications from CloseCross, including information about any promotional offers.
    19. You may also choose to opt-out of receiving any marketing communications at any time by clicking on the unsubscribe link contained in all of our marketing communications.
    20. We will comply with all applicable data protection laws in respect of personal information you supply to us. Your personal information is processed in accordance with our Privacy Policy.

    Inactive Accounts

    We reserve the right, in our sole discretion and for whatever reason, to close and settle your trading account funds back to your wallet if your account has been dormant or inactive for 90 days or more. Dormant or inactive accounts are measured from the last successful login.

  4. Funding your account

    1. A usermay deposit USDC tokens to their Wallet from an external source, either a 3rd party wallet or exchange. Using these wallet tokens ("Funds"), the user can topup their TradingAccount ready for placing predictionsin VPFs. Some top-ups may be subjected to further verification checks.
    2. Any Funds in the TradingAccount can be transferred back to the Wallet and any Funds in the Wallet can be withdrawn to an external wallet or exchange. Some transfers may be subjected to further verification checks.
    3. USDC is a stable coin which is mapped to the US Dollar ("$" OR "USD"). The USDC is said to be 1:1 to the US Dollar but this rate can fluctuate to a fraction below 1 or a fraction above 1. The GUI will represent these tokens throughout the platform using the dollar ("$") symbol. This is for simplicity and does not represent the actual dollar value of the token.
    4. Blockchain Transaction Fees apply for any and all transactions occurring on the blockchain. These fees are charged by Ethereum blockchain miners and CloseCross does not benefit from fees charged.
    5. Fee free ("Gasless") top-ups are available for users who topup more than the topup threshold from their Wallet to their Trading Account. In this case, CloseCross will pay for the fee on behalf of the user.
    6. Fee free ("Gasless") transfers are available for users who have placed more than the transfer threshold in VPF trades since their last 'transfer' action.
    7. Thresholds for topups and transfers can vary depending on Ethereum market gas prices
  5. Placing predictions

    1. Users can commit Funds to VPFs as long as; they have the available Funds within their Trading Account, they have not reached their stop loss limit, they have not temporarily or permanently stopped their account, and they have not reached their Trading limit.
    2. Trades are made by entering a value into one of the Outcome Options and clicking commit. Upon placing a prediction, a Trading receipt is issued. Trading receipts contain; timestamp of when the trade was placed, how much was placed, the Multiplier at the time of committing and the chosen outcome option.
    3. Trades placed by all users within a single VPF are pooled together as the Total Committed Funds ("TCF") or Total Funds ("TF"). These are the winnings that will be distributed amongst the winners at maturity time.
    4. Each trade that is placed across each outcome option is tallied up to form the Crowd Wisdom. users can see the TCF split amongst the different outcome options as well as how many trades have been placed.
    5. At the set maturity time, the result for the event/asset is known through data providers and is approved.
    6. Users who predicted the incorrect outcome will lose only their committed funds.
    7. Users who predicted the correct outcome will win a minimum of their committed amount.
    8. The splitting of winnings between participants is executed using patented 'Multi Party Settlement Algorithms' ("MPSA"). The MPSA is designed to factor in the amount the user has committed in the trade, the TCF, and the Rewards Multiplier. For example, if User A and User B both commit the same amount to a VPF on the same winning outcome, however User A placed their prediction earlier than User B, then User A is entitled to a larger share of the winnings than User B since they took a larger risk in their prediction (being earlier) and this is reflected in the Rewards Multiplier being larger for User A.
    9. In the case that there are no winners (all participantspredictedon a losing outcome) or that there are no losers (all participantspredicted on a winning outcome), all committed funds will be returned to the participants in full.
    10. Upon final resolving of the VPF (winnings being split), results receipts are issued giving details to the participantsof; timestamp of when the trade was placed, how much was placed, the Multiplier at the time of committing, the chosen outcome option, the winning outcome option, the TCF and the profit/loss of that receipt.
    11. Users are responsible for making their predictions and CloseCross does not provide any guarantees or assurances that users will be successful in their predictions.
  6. Withdrawing funds

    1. You may request a withdrawal of funds from your Account at any time provided that:
      1. all verification checks have been completed to our satisfaction;
      2. there are no other conditions which may attach to or limit your ability to withdraw funds.
  7. Facilitation Fees

    1. As part of the execution of VPFs, providing a mutual platform and general Platform related facilitation, CloseCross will charge a facilitation fee against the TCF of each VPF at the time of maturity.
    2. The Facilitation Fee is deducted at the point of settlement of the VPF which will allow the Company to cater for exceptions where no fee should be paid such as:
      1. If the VPF closes without any participants having a correct prediction,
      2. If the VPF closes with all participants correctly predicting the event;
        OR
      3. If charging the Facilitation Fee would result in a participant that correctly predicted an outcome not receiving back, at the least, the original prediction amount of Stable Coins.
    3. The Facilitation Fee is charged as a percentage of the total committed funds ("TCF") in a VPF, by default. This percentage would be on a sliding scale and inversely correlated to the amount of TCF. The higher the TCF, the lower the fees. Generally, this facilitation fee will range between 0.25% and 5%. This fee and any variations to it will be transparently shared with the VPF participants.
    4. The Facilitation Fee structure could, for example, vary depending on a specific promotion on the platform. Some VPFs may consist of a fixed percentage structure where, for example, a flat fee of 1.5% will be charged to the TCF. Other VPFs may have a band rate structure where, for example, the first $10,000 may be charged at a rate of 0.5%, the next $20,000 at a rate of 1% and anything above at 1.5%. In all cases, the fee chargeable will be disclosed transparently in accordance with applicable transparency requirements.
    5. The facilitation fee shall not differ whether the client has signed up with CloseCross directly or whether they have been referred by another client.
  8. Eligibility and trading rules

    1. Only persons who passed the on-boarding procedures may participate. All personal information given during onboarding must be accurate to your knowledge and you must not knowingly provide false information
    2. You shall not participate in VPFs, for which you substantially control the outcome of the event, whether directly or indirectly.
    3. You shall not trade in a market for which you are considered an Insider, whereby "Insider" means any person, who as a result of - controlling substantially the outcome of an event; being a member of the administrative, management or supervisory body of an entity that substantially controls the outcome of an event any employment, profession or duties; or being involved in criminal activities, possesses non-public information, which the person may not divulge on account of obligations with third parties (including but not limited to binding Non-Disclosure Agreement) and that is likely to impact the market price.
    4. You may not trade if you fall under any of the categories of persons explicitly excluded from participation in the market specific rules.
    5. You shall not trade on the Platform with the intent to mislead the public to suggest that an outcome is more likely or less likely than it actually is.
    6. You shall not trade on the Platform with the intent to impact the outcome of the market.
    7. You are prohibited from making any trade that attempts to defraud any of the prediction markets or involves any price, outcome or event rigging. Where such evidence or suspicion of rigging exists, or where there is evidence or suspicion that you violated this clause 10 or committed some other act which has unfairly affected the final outcome of any prediction market, or where there is evidence or suspicion of a series of trades each containing the same selection(s) having been placed by or for the same individual or group of individuals, CloseCross will report such occurrences to the regulatory authorities.
  9. Introducers / Affiliates

    1. All users who have successfully completed onboarding will be provided with their own unique introducers code ("Referral code") which can be shared with anyone in the referrers external network.
    2. All introducers are bound by the same confidentiality clause as set out in the privacy policy.
    3. Upon another party using this code to sign up to CloseCross, they will be added to the introducers' user account as a "referred user".
    4. The introducer will be paid by CloseCross an amount equal to a share of the profits that CloseCross generates from the introducer's referred users("Referral Earnings").
    5. Referral Earnings are equal to 33% of referrals based earnings which amount and basis of calculation is subject to change at CloseCross' discretion.
    6. The introducer must NOT give any investment advice, promote a certain product or undertake any investment services licensable activity.
    7. The introducer shall not be permitted to pass on any documentation on behalf of the referred user or CloseCross and shall not promote any particular product or service on behalf of CloseCross.
    8. The introducer is not permitted to receive any funds from referred users or to give any commitments on behalf of CloseCross.
    9. The introducer does not hold himself out to the general public as acting as introducer and should not actively promote its "introducing services"
  10. Suspicious Activity

    1. If CloseCross becomes aware or suspects that a transaction is suspicious and involves or may involve financial crime or similar activity or market abuse (including market manipulation or insider trading), then the company reserves the right to block the transaction and other transactions made by you. In addition, the Company reserves the right to disable yourTrading Account and Wallet until the matter is resolved. We shall be under no obligation to provide you with any reasons for these actions. If the activity and transactions are cleared of any suspicions all disabled funds will be made available to you.
    2. Where CloseCross suspects that you are participating in any form of collusion, fraudulent practices, money laundering activities, terrorist financing or market abuse, we reserve ourselves the right to report such activity to the relevant authority including your identity and you agree to cooperate fully with us to investigate any such activity.
  11. Data sources

    1. CloseCross uses Oracle (Provable) to resolve all prediction markets on the Platform and will rely on a data source explicitly stated in the description of each VPF. Where possible, an alternate data source is provided, which is used where the primary data source is unavailable or where we have serious concerns over the reliability or irregularities in the primary data source.
    2. At Our sole discretion, we may revert to any third data source.
    3. In the case that a secondary or tertiary data source is to be used, an override reason will be given and made transparent on the smart contract level.
  12. Platform Errors

    1. Blatant or palpable errors, general mistakes, erroneous pricing or any other omission which may or may not cause a direct impact to user settlements, may cause a VPF to be cancelled, in which case no more predictions will be allowed on that VPF and all monies committed will be returned in full to persons participating in that VPF.
  13. Disclaimers

    1. You understand and accept that you use the Services at your own risk and you assume full responsibility for such use. CloseCross provides the Services to you on an "as is" and "as available" basis without any warranty, representation or assurance (whether express or implied) in relation to merchantability, fitness for a particular purpose, availability, security, title or non-infringement.
    2. Although CloseCross will adopt reasonable security protocols and measures in the provision of the Services, we do not warrant, represent or guarantee that the Services will be secure or free from weaknesses, vulnerabilities or bugs. You are responsible for configuring your information technology, computer programs and platform to access the Services.
  14. Limitation of Liability

    1. CloseCross shall not be liable to you for any direct, indirect, special, incidental or consequential loss of any kind (including, but not limited to, loss of revenue, income, business or profits, loss of contract or depletion of goodwill, loss of anticipated savings, loss of use or data or any like loss) arising out of or in any way related to your access to and use of the Services or your inability to access and use the Services, regardless of the cause of action, whether based in contract, tort (including negligence), breach of statutory duty, restitution or any other legal or equitable basis (even if we have been advised of the possibility of such losses and regardless of whether such losses were foreseeable).
    2. Nothing in these Terms shall limit or exclude liability for any matter in respect of which it would be unlawful to limit or exclude liability.
  15. Regulatory Risks

    1. The operation of prediction market applications is subject to extensive legal and regulatory analysis. Participation in and the format of the Platform are being carefully designed to minimize any legal and regulatory risk.
    2. CloseCross will, at all times, comply with regulatory inquiries and will respond quickly and swiftly to relevant regulatory authorities. As such, we may also supply any relevant information without delay to any competent regulator.
    3. Any regulatory inquiry may mean the immediate suspension or outright termination of the Platform or other Services for all users. Any rewards/tournaments/markets may be cancelled in the event of a regulatory inquiry.
  16. Indemnity

    1. You agree to release and to indemnify, defend and hold harmless CloseCross and our parent, subsidiaries, affiliates and agencies, as well as the officers, directors, employees, shareholders, representatives and contractors of any of the foregoing entities, from and against any and all losses, liabilities, expenses, damages, costs (including legal fees and court costs) claims or actions of any kind whatsoever arising or resulting from your use of the Services, your breach of theseTerms, and any of your acts or omissions that infringe the rights of any person.
    2. CloseCross reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you and, in such case, you agree to cooperate with CloseCross in the defense of such matter.
    3. The indemnity set out here is in addition to, and not in lieu of, any other remedies that may be available to us under applicable law.
  17. Information we collect about you

    1. It is your responsibility to ensure that your User Account Information is kept up to date.
    2. We process information about you in accordance with our Privacy Policy. Our Privacy Policy contains details on the types of information we collect and what we do with that information.
    3. We are entitled to share the information we hold on you which includes personal data and trading history with any relevant regulatory authority to investigate money laundering, fraud, market manipulation or abuse as well as other unlawful behaviour and to comply with our regulatory duties.
  18. Licenses and Access

    1. We are the owner and/or the licensee of all intellectual property rights in the Services. The intellectual property rights in the Services are protected by intellectual property laws and treaties around the world. All such rights are reserved.
    2. Subject to your compliance with these Terms, CloseCross grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable licence to access and make personal and non-commercial use of the Services. This licence does not include any resale or commercial use of the Services or any derivative use of the Services. All rights not expressly granted to you in these Terms are reserved and retained by CloseCross or its licensors. The Services may not be reproduced, duplicated, copied, sold, resold, visited, or otherwise exploited for any commercial purpose without the express prior written consent of CloseCross. You may not frame or utilize framing techniques to enclose any trademark, logo, or other proprietary information (including images, text, page layout, or form) of CloseCross without the express prior written consent of CloseCross. You may not misuse the Services. You may use the Services only as permitted by law. The licences granted by CloseCross shall automatically be revoked and terminated if you do not comply with this Terms or cease to use the Services for whatever reason.
  19. Viruses, bugs and security vulnerabilities

    1. We do not guarantee that our Services will be secure or free from bugs, security vulnerabilities or viruses.
    2. You are responsible for configuring your information technology and computer programs to access our Services. You should use your own virus protection software.
    3. You must not misuse our Services by knowingly introducing material that is malicious or technologically harmful. You must not attempt to gain unauthorised access to our Services, the server on which our graphical user interface is stored or any server, computer or database connected to our graphical user interface. You must not attack our Services via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, you would commit a criminal offence. We will report any such breach to the relevant law enforcement authorities and we will cooperate with those authorities, including, where possible, by disclosing your identity to them. In the event of such a breach, your right to use our Services will cease immediately.
  20. Rules about you linking to our site

    1. You may link to our home page, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it. You must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists. You must not establish a link to our Services in any website that is not owned by you.
    2. Our graphical user interface must not be framed on any other site, nor may you create a link to any part of our graphical user interface other than the home page. We reserve the right to withdraw linking permission without notice.
    3. The website in which you are linking must comply in all respects with the content standards set out in these Terms. If you wish to link to or make any use of content on our graphical user interface other than that set out above, please contact [email protected].
  21. Termination

    1. In the event you breach these Terms or due to regulatory necessity, CloseCross may immediately terminate or suspend your use of the Services and your participation in the Platform via our graphical user interface without prior notice or liability. Upon termination or suspension, your right to use the Services shall immediately cease.
    2. For regulatory necessity and at its sole discretion, CloseCross may close out VPFs or suspend the possibility to commit outcome/conditional tokens, where there is a risk that the stakes on the market themselves may impact the outcome of a market or where attempts to manipulate the market price affect the integrity of the market.
  22. Force Majeure

    1. We may update and change our Services from time to time. We may suspend or withdraw or restrict the availability of all or any part of our Services for business, operational or regulatory reasons or because of a Force Majeure Event at no notice.
    2. A "Force Majeure Event" shall mean any event, circumstance or cause beyond our reasonable control, which makes the provision of our Services impossible or onerous, including, without limitation:
      1. acts of God, flood, storm, drought, earthquake or other natural disaster;
      2. epidemic or pandemic;
      3. terrorist attack, hacking or cyber threats, civil war, civil commotion or riots, war, threat of or preparation for war, armed conflict, imposition of sanctions, embargo, or breaking off of diplomatic relations;
      4. equipment or software malfunction or bugs including network splits or forks or unexpected changes in the Ethereum Blockchain, as well as hacks, phishing attacks, distributed denials of service or any other security attacks on the Platform;
      5. nuclear, chemical or biological contamination;
      6. any law statutes, ordinances, rules, regulations, judgments, injunctions, orders and decrees or any action taken by a government or public authority, including without limitation imposing a prohibition, or failing to grant a necessary licence or consent;
      7. collapse of buildings, breakdown of plant or machinery, fire, explosion or accident; and
      8. strike, industrial action or lockout.
    3. CloseCross shall not be liable or responsible to you, or be deemed to have defaulted under or breached theseTerms, for any failure or delay in the provision of the Services or the performance of theseTerms, if and to the extent such failure or delay is caused by or results from or is connected to acts beyond our reasonable control, including the occurrence of a Force Majeure Event.
  23. Responsibility to secure your cryptographic assets

    1. You must own and control any Wallet you use in connection with our Services.
    2. You are responsible for all appropriate measures for securing any Wallet you use for the Services, including any private key(s), seed words or other credentials necessary to access such storage mechanism(s). By using our Services, we do not gain custody of any of your private keys.
    3. A key feature of CloseCross's Services is that we do not hold or control your assets, putting our clients in control through the use of Wallets and private credentials. For this reason, we shall not be responsible for any security measures relating to the Wallets you use for the Services and exclude (to the fullest extent permitted under applicable law) any and all liability for any security breaches or other acts or omissions, which result in your loss of access or custody of any cryptographic assets stored thereon.
  24. Tax Liabilities

    1. You are solely responsible to determine if your use of the Services have tax implications for you. By using the Services, and to the extent permitted by law, you agree not to hold us liable for any tax liability associated with or arising from the operation of the Services or any other action or transaction related thereto.
  25. No Advice

    1. You will enter into all transactions through the Platform using our Services on an execution only basis. An "execution only basis" means you will be solely responsible for all investment decisions and actions on your Account. You must therefore rely on your own judgment in respect of all dealings relating to your Account.
    2. None of the information available through our Services or by participating in the Platform or made otherwise available to you in relation to such use or participation constitutes any legal, tax, financial or other advice. Where in doubt as to the action you should take, you should consult your legal, financial, tax or other professional advisors.
  26. Miscellaneous

    1. If any clause or provision of these Terms is found to be illegal, void or unenforceable (in whole or in part), then such clause or provision shall be severable from these Terms without affecting the validity or enforceability of any remaining part of that clause or provision, or any other clause or provision of these Terms, which shall remain in full force and effect.
    2. The failure of CloseCross to exercise or enforce any right or remedy provided under these Terms or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy.
    3. Unless it expressly states otherwise, these Terms do not give rise to any third party rights, which may be enforced against us.
    4. These Terms constitute the entire agreement between the parties in relation to its subject matter. These Terms replace and extinguish any and all prior agreements, draft agreements, arrangements, warranties, statements, assurances, representations and undertakings of any nature made by, or on behalf of the parties, whether oral or written, public or private, in relation to that subject matter.
    5. CloseCross may assign these Terms at any time to any of its parents, subsidiaries or affiliates without requiring consent from any person. You shall not be entitled to assign these Terms to any third party without our express prior written consent.
    6. You acknowledge that by accepting these Terms, you have not relied on any oral or written statements, warranties, assurances, representations or undertakings which were or may have been made by or on behalf of CloseCross in relation to the subject matter of these Terms at any time before your acceptance of it ("Pre-Contractual Statements"), other than those set out in these Terms. You hereby waive any and all rights and remedies which might otherwise be available in relation to such Pre-Contractual Statements.
  27. How to resolve complaints

    1. Complaints can be raised by any of the following methods:
      1. Send an email with the complaint to [email protected];
      2. Fill in the feedback form from within the Platform;
      3. Use the Telegram chat to get in contact with the support team.
    2. All complaints will be looked into within 48hours and resolved within 2weeks depending on the nature of the complaint.
    3. If an alleged breach, controversy, claim, dispute or difference arises out of or in connection with the present Terms between you and us (a "Dispute"), you agree to seek to resolve the matter with us amicably by referring the matter first to:
      1. you personally if you are acting as a natural person;
      2. in the case of us, our Support Team.
    4. If you wish to report a Dispute, you must email our Support Team at [email protected]. The following information will need to be included:
      1. your name and surname;
      2. your email address (or other recognition details);
      3. detailed enquiry description;
      4. the date and time that the issue arose.
    5. If you receive a response from the Support Team but deem it unsatisfactory, or if you have not received an email within two weeks, you may contact the Legal Team at [email protected] Both teams shall:
      1. send an initial email confirming the receipt of your complaint;
      2. send an official response to you within 14 business days respectively;
      3. try to resolve the matter as soon as reasonably possible;
      4. inform you of the outcome.
    6. If you are an Eligible Complainant, you may also be able to refer your complaint to the Arbiter for Financial Services (after we have issueda final response), which is an independent dispute resolution service. The Office of the Arbiter for Financial Services can be contacted at: The Arbiter for Financial Services, First Floor, St. CalcedoniusSquare, Floriana FRN 1530, Malta. Additional information about the Office of the Arbiter for Financial Services can be found at www.financialarbiter.org.mt.
    7. Your right to take legal action remains unaffected by the existence or use of this complaints procedure.
  28. Investor Compensation Scheme

    1. We are covered by the Investor Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. The amount of compensation depends on the type of business and the circumstances of the claim. Further information may be obtained from www.compensationschemes.org.mt. Professional clients are generally not entitled to claim for compensation from the investor compensation scheme in terms of the Investor Compensation Scheme Regulations (Subsidiary Legislation 370.09, Laws of Malta).
  29. Governing Law and Dispute Resolution

    1. These Terms shall be governed by and construed in accordance with Maltese law. Unless amicably resolved in accordance with Clause 27 any dispute, controversy or claim arising out of or in connection with theseTerms, including any question regarding their existence, validity or termination, is subject to the jurisdiction of the Courts of Malta.

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The products offered by the Company are complex in their nature and not appropriate for everyone. You may lose some or all of your money. Read our Risk Information and Terms of Use for more information on associated risks.