Last updated 28.11.2025

Please read carefully below provided information before accepting them.

These Terms of Use shall constitute a legally binding agreement between the Client and Bitsduck. All capitalised terms in the Terms of Use shall have the meanings described in this document, unless otherwise provided in the Terms of Use. All other terms used in the Terms of Use shall have their usual or statutory meanings.

1. General information

1.1. These Terms of Use and any terms expressly incorporated herein (“Terms”) apply to your access to and use of the website provided by Bitsduck, Bitsduck online platform is available at https://bitsduck.com (“Website” or “Platform”). Bitsduck.com is owned and operated by MAYFAIR PAYMENTS INC , registration number 1001286260 (“Bitsduck”, “Company”, “We”, “Us” or “Our”)

1.2. MAYFAIR PAYMENTS INC operates exclusively through this website: Bitsduck.com. (https://Bitsduck.com/) Any other websites are not affiliated with or operated by MAYFAIR PAYMENTS INC. We do not endorse, authorize, or take responsibility for any content, services, or representations made by any other entities using similar legal names or brand names. Any use of our legal or brand name by third parties has no relation to our company, its operations, or the services we provide. For accurate and legitimate information about our services, please visit our official website only.

1.3. The website is located at (https://bitsduck.com/) and any associated-hosted sites, collectively referred to as the “Bitsduck Site”. Any services offered by Bitsduck, in conjunction with the Bitsduck website, referred to as “Bitsduck Services”.

1.4. By clicking the “Sign in” button or using the Service, you agree to be legally bound by these Terms and all terms incorporated by reference. If you do not understand and accept these Terms in their entirety, you should not register for a Bitsduck Account or access or use the Bitsduck Service.

1.5. These Terms apply to users of the Bitsduck website.

1.6. By using any of the services, you acknowledge that you have read, understood, and agreed to these Terms, as updated and amended from time to time. If you disagree to be bound by these Terms, you may not access or use any services.

1.7. Only eligible Persons are permitted to use the Service. Any person that is not eligible to access the Site will be in breach of these Terms.

1.8. These Terms and the articles of incorporation constitute the entire agreement and understanding with respect to the use of all services.

1.9. These Terms shall come into force and become legally binding agreement between the Client and the Company after the Client electronically confirms (using the Platform) his/her consent to comply with the provisions set herein and shall be valid for an indefinite period.

1.10. In addition to these Terms, the relationships between the Company and the Client could be established by the other agreements or documents (the Client shall be familiarised with the Terms and Conditions, Privacy Policy, Fees, Risk disclosure and any other policies as shall be published by the Company from time to time (and their later amendments))  agreed by the Parties.

1.11. In case of a conflict between the provisions of the particular agreement and (or) Order and Terms, the provisions of the Agreement and (or) Order shall prevail.

1.12. The Client shall be familiarised with the Terms, Privacy Policy, Fees, Risk disclosure and any other policies as shall be published by the company from time to time (and their later amendments) using Platform functionality. These documents are an integral part of these Terms.

1.13. The Company reserves the right to make changes or modifications to these Terms from time to time, in Company’s sole discretion, by posting the amended Terms on the website, and by communicating these changes through any written or other contact methods, we have established with you.

2. Definitions and Interpretations

Capitalized terms not otherwise defined in these Terms will have the following meaning:

• Actual Exchange Rate shall mean the exchange rate at which an exchange order was executed.
• Agreement means this document (Terms & Conditions).
• Client(s) shall mean potential client or Company’s Client who uses Services (“You”, “Yours”, “Client)
• Company shall mean MAYFAIR PAYMENTS INC with registration number 1001286260 (“Bitsduck”, “Company”, “We”, “Us” or “Our”)
• PCMLTFA Act means the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
• Cryptocurrency, Digital Assets, Crypto-assets shall mean Bitcoin (BTC), Etherium (ETH) and any digital assets that may be purchased, sold via the Service.
• Exchange Fees mean fees charged in connection with the Service at the applicable rates and computation methods.
• External Account means any financial account of which you are the beneficial owner maintained by a third-party payment service of a financial institution.
• KYC or Know Your Customer shall mean the process by which the Company verifies the identity of its clients. This involves collecting and assessing various documents and information to ensure compliance with legal and regulatory requirements.
• Force Majeure Event means an event beyond Bitsduck’s reasonable control, including but not limited to blockchain network failure, equipment for software malfunction, communications or power failure, the action of government, labour dispute, accident, riot, insurrection, war, fire, an act of God such as extraordinary weather conditions, earthquake, flood, or any other cause beyond Bitsduck’s reasonable control.
• Funds shall mean Cryptocurrency or Fiat currency.
• Intellectual Property means any works, materials, information and other subject matter of any kind that are subject to or capable of protection by the laws of copyright, patents, trademarks (registered or not); and/or designs and including all design rights, software (whether in source code and/or object or other compiled form), documentation, specifications, and commercial or marketing publications and/or materials that is licensed to, owned, registered, managed and/or operated by Bitsduck, any Related Entities and/or any other persons or entity associated with the Platform. 
• Market Exchange Rate means the prevailing market exchange rate, as determined by liquidity providers.

• Order shall mean a placed Client’s order for Exchange Services using the Company’s Platform.

• Platform shall mean the Company’s software solution for the execution of Exchange Services, using Bitsduck brand and reachable via https://bitsduck.com.

• Service means the exchange of Fiat currency to Cryptocurrency and Cryptocurrency to Fiat currency.

• Terms of Use shall mean these terms published at the Company’s website https://bitsduck.com 

• United States shall mean the United States, District of Columbia and Insular Possession of the United States.

3. Service

3.1. Bitsduck provides the service of exchange of cryptocurrency,  such as BTC, ETH for FIAT funds, such as CAD (“Service”). The Service is non-custodial: we do not open or maintain wallets for customers and we do not hold or manage customers’ crypto-assets. 

3.2. Bitsduck does not provide any investment advice, portfolio management, order execution in crypto-assets on behalf of clients beyond non-custodial exchange flow, reception/transmission of orders, custody or management of crypto-assets, or public offering/admission to trading of crypto-assets. We do not issue crypto-assets. We operate as a Money Services Business (MSB) registered with FINTRAC under the PCMLTFA (Proceeds of Crime (Money Laundering) and Terrorist Financing Act). We do not provide payment services regulated under Canadian federal payment-services legislation. We are not a payment service provider, payment facilitator, or financial institution.

We do not guarantee that our Services or the Site will be available to you at all times. Our Services are provided without warranty of any kind, and in particular without any implied warranty of merchantability and fitness for any particular purpose. 

3.3. You must meet eligibility criteria to use Bitsduck. You must be at least 18 years old and not citizen and resident of, as well as people staying in, countries where transactions are prohibited by international sanctions or their internal law regulations or countries based on various criteria selected by our AML team. 

Our Service is designed for Canadian citizens. Citizens of other countries may only access our services if they independently and voluntarily initiate the request, in compliance with applicable regulations. Citizens and residents of some countries, including but not limited to the United States and the United Kingdom, may be explicitly prohibited from using our services. Additional nationality and sanctions/high-risk restrictions apply. We enforce controls (geoblocking, IP/device checks, document verification, sanctions/KYT screening) at onboarding and per transaction.

3.4. Bitsduck may suspend your account temporarily or permanently if you are not eligible to use Service or breach these Terms. Bitsduck may decline or discontinue access where required by law, sanctions, our risk appetite, or these Terms of use.

3.5. You may not engage in illegal activities using our Service.

4. Eligibility for Service 

4.1. Bitsduck may not make the Service available in all markets and jurisdictions.

4.2. If you are the United States and United Kingdom passport holder, you are not eligible to use any Service.

4.3. You represent and warrant that you:

a) are of legal age to form a binding contract; You are 18 years of age or older, and at least in the legal age in your jurisdiction; 

b) have full power and authority to enter into this agreement and, in doing so, will not violate any other agreement to which you are a party;

c) will not use our Service if any applicable laws in your country prohibit you from doing so in accordance with these Terms under this Agreement;

d) are not located in, or a national or resident of any country to which the Canada has embargoed goods or services; 

e) comply with our Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) policies at all times which are stipulated on our website; 

f) have not previously been suspended or removed from using our Service; 

g) not operate or are involved in any Prohibited Businesses at all times and at any capacity; or/and; 

h) any other criteria which we may stipulate from time to time to reasonably assess your eligibility.

i) you can afford to lose all of your investment as dealing in Digital Assets involves a high degree of risk; 

j) you have taken care to seek to understand the inherent risks associated with dealing in Digital Assets and using blockchain-based software systems, including by carefully reviewing the non-exhaustive illustrative list of potential risks set out in our Risk Warning;

k) you have sufficient access to computers, internet and software as may be required to use our Services; 

l) any actions on the Site, as well as any Instructions and operations initiated from your Account or using your Account credentials are performed by you; and

m) you accept responsibility for determining and paying any taxes which apply to you (your Transaction history is available to you via your Account)

4.3. You must:

a) only use our Services where you have independently determined that they are suitable for your requirements; 

b) provide us with any information we may request from time to time in connection with our Services or complying with our compliance obligations in the terms stipulated and/or expected in request;

c) ensure that any information you provide to us is true, accurate, up to date and complete, and you will inform us immediately if there is a change concerning any information you provide to us;

d) ensure that you keep any sensitive information (including as regards any password and other security information) safe, secure and confidential;

e) not use any Account other than for your own account, nor may you access the Account of any other individual at any time or assist others in obtaining unauthorized access to any Account;

f) keep your login and security details confidential, safe and secure;

h) notify us immediately of any unauthorised use of your Account or password, or any other breach of security, by email to [email protected] ; and

i) immediately inform us in the event that you are not or for any reason cease to be eligible for our Services.

4.4. Bitsduck may condition your access or continued access to Service by imposing eligibility requirements. Bitsduck may require that you demonstrate that you continue to meet eligibility requirements.

4.5. Bitsduck Account

You may have only one Bitsduck account per user of Service.

You are allowed to register and create profile for purpose of using Services only if these all conditions are met:

1. Proper  identity verification: the Client successfully passes the identification process.
2. KYC process: the Client submits all required information and documents during the KYC process.
3. Clients risk profile: The Client shall be acceptable under Company’s risk appetite. The Company is serving Clients under risk parameters established by its internal documents and (or) applicable laws.
4. Residency and citizenship: Bitsduck onboards natural persons from Canada. Citizens of other countries may only access our services if they independently and voluntarily initiate the request, in compliance with applicable regulations. Citizens and residents of some countries, including but not limited to the United States and the United Kingdom, may be explicitly prohibited from using our services. Additional nationality and sanctions/high-risk restrictions apply. We enforce controls (geoblocking, IP/device checks, document verification, sanctions/KYT screening) at onboarding and per transaction.
5. Age Requirement: Clients must be at least 18 years old, or the legal age of majority in their jurisdiction, whichever is higher.
6. No previous relationship terminations: Clients must not have had a track record of previous relationship termination with the Company due to non-compliance with Terms of Use, applicable laws or internal regulations.
7. Compliance with international sanctions and other AML/TF requirements: Clients must pass checks in accordance with international standards, including screening against global watchlists and sanctions lists.
8. The Company has the right to refuse to register the Client and/or create a profile, refuse to provide Services, and/or terminate or suspend business relationship with the Client, if the Client fails to meet the conditions specified in the Terms of Use at any time.

4.6. When you create a Bitsduck Account, you agree to:

a) Provide accurate, current and complete information;

b) Create a strong password that you do not use for other online services;

c) Maintain the security of your account by not sharing your password with third parties.

d) Promptly notify Bitsduck if you detect any suspicious activity on your account.

e) Take responsibility for all activities that occur under your account.

4.7. The Client hereby agrees to ongoing compliance with the Company’s updated policies and procedures, including these Terms. In addition, it includes periodic updates to KYC information as required.

4.8. The Client is responsible for safeguarding the confidentiality and security of the password and any other user credentials that are used by the Client in the Platform (including security vulnerabilities on Client devices).

4.9. The Client undertakes to inform the Company immediately, but no later than within 24 hours, of any security incident observed, including suspicious activity in the Platform’s personal profile, personal data, executed transactions, or any other suspicious information and (or) activity.

4.10. You may transfer funds from an External Account of which you are the beneficial owner. This includes, but is not limited to, payment service accounts, deposit or bank accounts with a financial institution, or Digital Asset Accounts. The External Account must comply with all regulatory AML/KYC requirements.

4.11. Your credit card company or a third-party processor may reject your credit card payment. Bitsduck will not be liable for any losses, fees, or charges connected to your credit card used.  Using your credit card is subject to additional terms set forth by your credit card agreement, including additional fees. In case of a chargeback, you will be liable for any resulting costs and fees. You authorise Bitsduck to deduct costs and fees related to the chargeback directly from your Funds without notice.

4.12. You consent to receive electronically all communications, agreements, documents, receipts, notices, and disclosures Bitsduck provides in connection with the Service and your Bitsduck account. To access electronic communications, you must use a computer with an internet connection with a current web browser and software to read PDF files.

4.13. You consent that Bitsduck may provide these communications to you by posting on webpages via the Service, emailing them to you at the email address you provide, and sending a text message to a mobile phone number. Carrier’s messaging, data or other fees may apply.

4.14. You must keep a current email address, mobile phone number, and mail address on file with Bitsduck. Bitsduck will be deemed to have sent you an electronic communication on the date its system indicates that the transmission was made regardless of whether you received or had access to the communication.

4.15. If your email address or mobile phone number becomes invalid, such that electronic communications sent to you are returned, Bitsduck may deem your account to be inactive.

4.16. You may withdraw your consent to receive electronic communications by sending a withdrawal notice to Bitsduck support. Bitsduck may suspend or terminate your use of Service.

4.17. If you would like a paper copy of the previous communication after withdrawal of consent to receive Communications electronically, you may request a copy by contacting Bitsduck support. Bitsduck will charge you a processing fee of 50 CAD per page and shipment expenses. You must provide a current physical mailing address.

4.18. The relationship between you and Bitsduck is one of an independent contractor. We are an independent contractor for all purposes.

4.19. Nothing herein contained shall be deemed to create any other form of relationship. Bitsduck is not acting as your agent, advisor, partner, broker, trader, intermediary, or in any fiduciary capacity.

4.20. All communication provided to you shall be not construed as advice of any kind, to perform or refrain from performing any action.

4.21. In relation to the Services, we may act reasonably: 

a) modify or discontinue any portion or all our Services, and/or

b) suspend or terminate your access to our Services at any time, and from time to time, without notice to you. 

4.22. You agree and confirm that we shall not be liable to you or any third party for any modification, suspension, or termination of any of our Services, or suspension or termination of your access to our Services, except to the extent otherwise expressly set forth herein or under a separate written agreement with us. 

4.23. You are responsible for your own access and use of your account with our Services. We are a registered MSB under the PCMLTFA and provide non-custodial crypto currency exchange services. We do not provide custodial wallet services or payment services.

4.24. It is your full responsibility to determine if any taxes apply to transactions you complete using the Service.

4.25. It is your full responsibility to report and remit the correct tax to the appropriate tax authority.

4.26. We are not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction.

5. Fair Use

5.1. By using the Service, you agree that you will not violate any law, contract, intellectual property or other third-party right or commit a wrongful act, a crime or a tort. You are solely responsible for your conduct while using our Service.

5.2. Without limiting the generality of the foregoing, you agree that you will not use the Service in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying the Service or that could damage, disable, overburden or impair the functioning of Service.

5.3. You agree that you will not use Service to pay for, support or otherwise engage in any illegal gambling activities, money-laundering, financing terrorist activities, fraud or other illegal activities.

5.4. You agree that you will not use any robot, spider, crawler, scraper or other automated means or interface not provided by Bitsduck to access Service or extract data.

5.5. You agree that you will not use or attempt to use another user’s account.

5.6. You agree that you will not attempt to circumvent any content-filtering techniques or attempt to access any service or area of Service that you are not authorised to access.

5.7. You agree that you will not develop any third-party applications that interact with Service.

5.8. You agree that you will not use Service to provide false, inaccurate, or misleading information.

5.9. You agree that you will not use Service to encourage or induce any third party to engage in any of the activities above.

6. Risks

6.1. Please don’t use Service if you do not understand these risks. Note that this brief statement cannot disclose all the risks associated with the Cryptocurrency market. You agree that you shall access and use the Service at your own risk. You must carefully consider your capabilities, experience level and risk tolerance before performing any operations in cryptocurrencies.

6.2. Engaging in any exchange operation in the Cryptocurrency market can be risky and potentially have significant losses. You, therefore, should carefully consider whether using the Service is suitable for you, in view of your financial resources and other circumstances.

6.3. Cryptocurrencies are inherently unpredictable and unstable, will continue to be for the foreseeable future, and entail an inherent risk with hacks, transfer errors and government sanctions out of control of Bitsduck.

6.4. Do not exchange funds you cannot afford to lose.

6.5. Bitsduck is not a trading site. Bitsduck does not endorse, support or recommend any trading platform.

6.6. Bitsduck is not liable for any loss or damage, including any loss of funds or profit.

6.7. Any operation in cryptocurrencies involves a high degree of risk and the potential for significant losses. You, therefore, should carefully consider whether using the Service is suitable for you, in view of your financial resources and other circumstances.

6.8. Using the service, you acknowledge that Cryptocurrencies are inherently unpredictable and unstable and will continue to be for the foreseeable future.

6.9. The prices of Cryptocurrencies have historically been subject to significant fluctuations and are highly volatile, and there is a risk of total loss of value in relation to any Cryptocurrencies. 

6.10. Cryptocurrencies entail an inherent risk with hacks, transfer errors, and government sanctions out of the control of Bitsduck.

6.11. Bitsduck is not responsible for communicating, anticipating or detecting all known or unknown risks inherent in the cryptocurrency markets.

6.12. Bitsduck, its employees are not investment or trading advisors. Bitsduck is not a trading site. Bitsduck does not endorse, support or recommend any trading platform. 

6.13. Furthermore, you acknowledge that risks are inherent to and associated with utilisingInternet-based trading systems. Bitsduck is not liable for any loss or damage, including any loss of funds or profit. 

6.14. You acknowledge that there are inherent risks associated with utilising an Internet-based exchange service, such as hardware or software failure and Internet connection failure. You acknowledge that Bitsduck shall not be responsible for any disruptions, errors, delays or communication failures you may experience when using the Service, however, caused.

6.15. Cryptocurrencies constitute a rapidly changing and unpredictable environment with an endless number of variables and factors outside your or Bitsduck control. New risks emerge at every moment, which creates market risk and uncertainty. Bitsduck is not responsible for anticipating, detecting or communicating all known or unknown risks in the Cryptocurrency market.

6.16. Some factors that could cause negative performance on operations are market volatility, government policies and regulations, hacks and security breaches resulting in the theft of funds, price manipulation, and general economic or market conditions.

6.17. Risk is the exposure to the chance of loss. You confirm that even though it seems unlikely, there is a real chance of realising risk that may result in the total loss of your Funds.

6.18. In certain market conditions, the market can reach a daily price fluctuation limit or insufficient liquidity, in which case your exchange order execution might be impossible.

6.19. By using our Services, you acknowledge that:

a) we are not responsible for any loss or damage suffered by you, due to any illicit or fraudulent activity of third parties;

b) we do not promote or operate giveaways; 

c) we will only communicate with you through the @bitsduck.com addresses; 

d) we will never call you unexpectedly and without prior notice; 

e) we will never ask you to disclose any of your sensitive authentication credentials, and will never demand remote access to your device; 

f) your Account credentials should be solely used by you, and you shall not disclose your login credentials to any third person or entity (other than an Authorised Person solely acting in the capacity as Authorised Person acting on your behalf);

g) you are responsible for ensuring that the email and phone number which you used for registering your Account will be exclusively operated and kept in private by you; and 

h) you are responsible for always setting 2-factor authentication on your device(s) linked to your Account, and for ensuring that they are solely possessed and accessed by you.

6.20. Please don’t use Service if you do not understand these risks.

7. Exchange Order Terms

7.1. Nature of the Service

By submitting an Order through the Service interface, you authorize Bitsduck to execute a crypto-asset exchange transaction using non-custodial mechanisms and charge all applicable fees.

Bitsduck:

1. provides automated or semi-automated access to crypto-asset exchange functionality;
2. sources liquidity from reputable third-party exchanges or liquidity providers;
3. settles all orders on a non-custodial basis, always sending crypto directly to your Self-Hosted Wallet and receiving crypto directly from you;
4. does not provide custodial wallet services, investment advice, portfolio management, or guaranteed return services.
5. Bitsduck does not hold client fiat or client crypto at any time.

7.2. Risk Acceptance

Before placing an Order, the Clients must acknowledge and accept the risks associated with the Services by taking active measures (expressly state the acceptance to Company’s Risk disclosure by electronically means before placing Order). 

7.3. Fees and Consideration

The Company shall have the right to receive the Fees and other monetary payments for the Services provided to the Client and the Client shall have the obligation to pay to the Company the Fees and/or other monetary compensation. Your fees are reflected in the all-in execution price. No hidden fees apply.

During Order creation, Bitsduck shows an indicative pre-quote with a validity timer for your confirmation. If the timer expires, you will be offered a new pre-quote. 

If the timer expires, a new indicative quote is generated.

The binding execution price is determined at the Pricing Time, which occurs only after:

1. receipt of fiat funds (for buy Orders) or on-chain receipt (for sell Orders), and
2. all compliance checks are finalized.

Your final execution price consists of:

Reference Rate — derived from third-party liquidity providers, reputable exchanges, using a weighted mid-price at Pricing Time;

Variable spread — reflecting market liquidity, volatility, order size, and operational/compliance costs;

Actual blockchain network fees — at Pricing Time.

No additional hidden fees are added.

If Client creates an Order for exchange of funds to the Crypto assets or exchange of crypto-assets for funds, the Client shall guarantee that the amount of Funds necessary for the Client Orders is available in his/her account or wallet, opened with a third party and disclosed to the Company.

Your External Account company or a third-party processor may reject your payment. Bitsduck will not be liable for any losses, fees, or charges connected to your External Account used.  Using your External Account may be subject to additional terms set forth by your External Account agreement, including additional fees. 

7.4.Payment Requirements

Fiat must be paid from a same-name External Account of which you are the beneficial owner. We reconcile by name/IBAN/reference. Cryptocurrency for sell orders must be sent from your Self-Hosted Wallet we specify per order; we do not accept custodial deposits. If details or proofs do not match, we may cancel and return funds to the source after checks.

The Clients shall have an account and/or wallet opened with third-party services providers at their discretion. The Clients shall familiarize themselves with their applied fees and other important information by their own. The Company shall be not liable for any actions of these third-party service providers selected by the Clients.

Only payment methods specified by Bitsduck may be used to purchase Cryptocurrency. By submitting an exchange order, you represent and warrant that you are authorised to use the designated payment method and authorise Bitsduck or our payment processor to charge your designated payment method. If the payment method is invalid or unacceptable, your exchange order may be suspended or canceled.

7.5. Verification and Compliance Controls

Before executing the Order submitted by the Client, the Company shall have the right to demand to submit the documents supporting legal basis, as well as the source (origin) of funds and/or Crypto assets or to provide other KYC information by the Client. If the Client fails to submit such information, the Company shall have the right to refuse executing the Client’s Order or suspend it until necessary information is properly provided.

The Company shall have the right to demand that the Client would submit documents and/or information confirming the legal grounds and for the acquisition of the Client’s funds and other assets, including funds or Crypto assets sources (origin) information relating to the Client’s activities, and/or other documents and information to the extent necessary for the Company in order to adequately fulfil the requirements of legal acts regulating the prevention of Money Laundering and/or Terrorist Financing and/or other legal acts.

The Company shall have the right to refuse to provide its Service, or to suspend the fulfilment of the Order, in addition to terminate the official relationships with the Client, if the latter does not submit required documents and/or information, avoids or refuses to submit the necessary documents and/or information, conceals the documents and/or information, or provides incorrect or incomplete information to the Company.

Bitsduck may reject or suspend an Order if: identity cannot be verified; same-name checks fail; transaction risk is elevated; origin-of-funds is unclear; a legal or regulatory obligation requires suspension.

The Company shall have the right to suspend and/or terminate the execution of the Order submitted by the Client, if it is required by legal acts of Canada  and/or other legislation binding upon the Company.

If the Company has reasonable doubts that the Order might have been submitted not by the Client or there are other legal or content doubts regarding the submitted Order, the Company shall have the right to demand additional information and (or) shall have the right to refuse executing the Order submitted by the Client.

If information specified in the Order submitted by the Customer is insufficient or there are other irregularities, the Company, depending upon the type of irregularities of the Order, may either reject such Order or execute such Order according to the data specified in it.

7.6. Execution and Order Settlement

After Pricing Time:

Buy Orders: crypto is delivered directly to your Self-Hosted Wallet.

Sell Orders: fiat is delivered directly to your same-name External Account.

Bitsduck never holds or controls client funds or client crypto assets.

Settlement timelines depend on external rails (banking systems, blockchain networks).

Delays outside Bitsduck’s control are not Bitsduck’s responsibility.

7.7. Accuracy of Information

The Company shall not be held liable for mistakes, irregularities in the Orders submitted by the Client, including but not limited to the correctness of requisites of accounts/wallets number submitted by the Client to the Company. Transactions involving crypto-assets are irreversible. The Client is solely responsible for ensuring the accuracy and completeness of all order details, including the transaction amount and the recipient wallet address. Once an Order has been executed, it cannot be cancelled, reversed, or modified. Blockchain transfers are irreversible.

You are responsible for ensuring:

1. full accuracy of wallet addresses;
2. correct payment details;
3. you control both the External Account and the Self-Hosted Wallet.

You acknowledge that you are solely responsible for populating the correct personal wallet address when you seek to make buy or sell  crypto-asset orders with Bitsduck Account. You may lose all your crypto-asset if you make an error in populating the wallet address. Bitsduck does not take responsibility for any errors in wallet address information that you populate in relation to your buy or sell crypto-asset order.

7.12. Order Cancelation

Once executed at the blockchain, Orders are final. Orders cannot be cancelled or reversed after Pricing Time.

The Client shall have the right to withdraw the Orders only if the Company has not yet fulfilled such Order and/or has not yet assumed obligations with regard to third parties pertaining to the fulfilment of the Order.

If an operational error occurs (e.g., pricing/technical error), Bitsduck may correct the transaction or cancel and refund amounts received, minus network fees.

Completed Orders for exchange of crypto-assets for funds via the Service are final. The Company does not accept any returns and will not provide any refunds unless specifically provided in these Terms.

7.15. Recordkeeping

The Company shall have the right to record and keep all Orders of the Client submitted and in addition to record and keep the information about all operations carried out by the Client. Records mentioned in this clause may be submitted by the Company to the Client and/or third parties as the evidence of the performed operations. 

After the completion of Order, the Client will get information on completed Order, submitted to Clients personal email registered with the platform.

The Company shall retain the Client’s transaction history and other relevant data for a period specified by applicable legal and regulatory requirements.

The Client shall have a right to find transaction history in his/her profile for the period of not less than 2 (two) years.

7.13. Tax Obligations

The Client shall be responsible for determining and fulfilling any tax obligations arising from Clients use of the Platform or Services, including, without limitation, any taxes applicable in any jurisdiction. The Company does not provide tax advice in relation to the Services or otherwise.

8. KYC and Reversal Policy. Use of Platform and Service.

8.1. A completion of the successful “Know Your Client” (“KYC”) procedure is a necessary condition to use Service. Documents and media files will be uploaded to your Bitsduck account and stored per Bitsduck Privacy Policy.

8.2. A successful KYC procedure allows a client to use Service and settle the client’s exchange order.

8.3. The Company shall identify the Client and/or representative thereof and/or the Beneficial owner in accordance with the procedure set out in the applicable legal acts.

8.4. For the purpose of identifying a natural person, his (her) name, surname, personal identification number and/or birth date, citizenship, country of birth, place of residence, personal identification documents, their issue and expiry dates and numbers of its issuance as well as other identification particulars of the Client shall be provided.

8.5. A natural person shall be identified according to the original personal identification documents acceptable to the Company submitted by such a natural person – a passport of the citizen, a personal identification card or other documents acceptable to the Company.

8.6. The Client must submit to the Company original documents, their notarised transcripts, or, on consent of the Company, documentary copies. The Company shall have the right to demand that all documents submitted by the Client which are drawn up in foreign countries are legalised in the manner established by legal acts or certified by Apostille. Where documents submitted to the Company are drawn up in a foreign language the Company shall have the right to demand their translation into English language. Translation of documents into English language must be confirmed by a competent translator acceptable to the Company and the translator’s signature shall be notarised.

8.7. The Company shall have the right to assume that documents submitted by the Client are authentic, true, valid and accurate.

8.8. Under the laws, the Company shall have the right to verify the information provided by the Client using public sources of information and reliable and independent non-public sources of information and other lawful methods.

8.9. The Company reserves the right to take any measures it considers appropriate following the completion of KYC assessments and compliance with regulatory reporting or other obligations related to the prevention of AML/TF.

8.10. A successful KYC procedure allows a client to use Service and settle the client’s exchange order.

8.11. The documents and media files requested may include, but are not limited to: Valid ID, Proof of Address, Declaration of transaction, Source of funds documentation (where applicable), Video verification call.

8.12. If a user refuses to complete said KYC process for any reason, the User shall:

a) Inform Bitsduck of refusal to complete the KYC process in writing to Bitsduck customer service. 

b) Provide a valid account/wallet for reversal of the transaction.

8.13. Bitsduck shall then initiate a transaction reversal. The user’s funds shall be returned to the user’s account/wallet five (5) days after the date upon which a user submitted a refusal to complete the KYC statement. This clause is applicable in case a transaction is not completed yet.

8.14. If pursuant to a KYC process, Bitsduck will refuse to provide services to a user due to AML policy, compliance directive or any other reason, Bitsduck shall initiate a reversal of the transaction, and the user’s Funds shall be returned to the user’s External Account/Wallet up to five (5) days of the date upon which a user-submitted a transaction order.

8.15. If Bitsduck is unable, for any reason, to return your Funds to your External Account after a reasonable period of inactivity, Bitsduck may report and remit such Funds in accordance with applicable unclaimed property laws.

8.16. The Company shall have a right to refuse accepting information, if information or documents do not contain sufficient information or not comply with procedures set out by the Company.

8.17. The Company shall have the right to request from the Client any additional information and/or documents related to the Clients, his/her representatives, Beneficial owners, and (or) the transactions executed by the Client, and to request the Client to fill in and periodically update the KYC questionnaires. All documents and information shall be drawn up and provided at the expense of the Client. If the Client fails to provide additional information and/or documents within the time limit specified by the Company, the Company shall be entitled to fully or partially suspend provision of the Services provided to the Client.

8.18.Only registered and identified Clients could use Platform and Company’s Services, as well as place Orders.

8.19. The Client is obliged to use the Platform and Services solely for legal purposes and in compliance with all applicable laws and regulations. Any use of the Platform and Services for illegal activities or in violation of any laws is strictly prohibited. The Client must ensure that their actions on the Platform and while using the Services are lawful and adhere to the relevant legal standards. If the Client fails to act lawfully, the Company shall have the right to suspend its activities or terminate the relationship with immediate effect.

8.20. The Company provides exchange services between supported Fiat currency and supported crypto-assets. . 

8.21. For the avoidance of doubt, the Client acknowledges and agrees that the Company does not act as a financial advisor and does not provide investment advice in connection with the Services or the Platform under this Agreement. Any communication between the Client and the Company shall not be considered investment advice. The Company makes no warranty as to the suitability of the Services to the Client and the Client is fully aware of the risk associated with the Services.

8.22. For the avoidance of doubts, the Client confirms that he/she understands that the Company is not providing custody services, i.e. the Company is not opening accounts/wallets to the Clients. The Client who will use the Services, shall have a solely owned account and (or) wallet opened at the third party under applicable regulation.

8.23. The Client who intends to place an Order for the Exchange Services shall have a solely owned account and(or) wallet opened at a third party that legally has the legal right to serve Clients with such types of services. The Client shall declare its ownership of the wallet. The Client acknowledges that he is solely responsible for placing the correct personal wallet address when he seeks for the Services through the profile. The Client acknowledges that he may lose all his Crypto assets if he makes an error in the wallet address. The Company does not verify wallet address details and takes no responsibility for any errors in wallet address information that you populate in relation to your order for exchange crypto-assest for funds.

8.24. The Company shall have the right to refuse to provide the Services, if the Company has reasonable doubts that the Order was submitted not by the Client or representative thereof. The Company shall not be held liable for losses which can arise from the refusal to execute the Order.

8.25. The Company shall not be held liable for mistakes, irregularities in the Orders submitted by the Client, including but not limited to the correctness of requisites of accounts/wallets number submitted by the Client to the Company. Transactions involving crypto-assets are irreversible. The Client is solely responsible for ensuring the accuracy and completeness of all order details, including the transaction amount and the recipient wallet address. Once an Order has been executed, it cannot be cancelled, reversed, or modified. 

8.26. The Client shall have the right to withdraw the Orders only if the Company has not yet fulfilled such Order and/or has not yet assumed obligations with regard to third parties pertaining to the fulfilment of the Order.

8.27. The Company shall have the right to record and keep all Orders of the Client submitted and in addition to record and keep the information about all operations carried out by the Client. Records mentioned in this clause may be submitted by the Company to the Client and/or third parties as the evidence of the performed operations.

9. Intellectual Property 

9.1. Unless otherwise indicated, all copyright and other intellectual property rights in all content and other materials contained on our website or provided in connection with the Service, are the proprietary property of Bitsduck and its related entities and are protected by international copyright laws and other intellectual property rights laws.

9.2. Content and materials may include the Bitsduck logo, designs, text, graphics, pictures, information, data, software, files and the selection and arrangement.

9.3. Bitsduck does not permit any use of the content and materials other than for their intended purposes.

9.4. Bitsduck grants you a limited, nonexclusive and non-sublicensable license to access and use the Bitsduck content and materials for your personal or internal business use.

9.4. Such license does not permit any resale of the content or materials. It forbids the distribution, public performance or public display, modifying or otherwise making any derivative use of content or materials.

9.5. Any suggestions, ideas or other materials regarding Service or the company that you provide, by correspondence with support or otherwise, by posting through our Service or otherwise, are the intellectual property of Bitsduck and its related entities.

9.6. Bitsduck will own exclusive rights to any information submitted as suggestions, ideas or feedback to change or improve service (Feedback). Such Feedback is non-confidential and shall become the sole property of Bitsduck.

9.7. Bitsduck will be entitled to the unrestricted use and dissemination of the Feedback for any purpose, commercial or otherwise, without acknowledgement or compensation to you. You waive any rights you may have to the Feedback, including copyright and moral rights.

9.8. Bitsduck reserves the right to disclose your identity to any third party who is claiming that content posted by you constitutes a violation of their intellectual property privacy rights.

9.9. You agree to indemnify us against any loss or damage incurred by us resulting from your infringement of the Intellectual Property rights that vests in the Platform, whether direct by your usage of our Platform and Services or indirectly through other means or uses (whether authorised or unauthorised) of the Platform or Services.

9.10. Where it is necessary to allow us to provide you with our Services from time to time, you grant us non-exclusive, irrevocable, royalty-free, and worldwide licence to use relevant intellectual property belonging to you. 

9.11. “Bitsduck” and Bitsduck logo are trademarks of MAYFAIR PAYMENTS INC. and its related entities, and may not be copied, imitated or used, in whole or in part, without Bitsduck’s prior written permission.

9.12. You may not use any trademark, product or service name of Bitsduck without prior written permission. 

9.13. Use above includes meta tags or hidden text utilising any trademark, product or service name of Bitsduck. 

9.14. The look and feel of Bitsduck Site and Service, including all page headers, custom graphics, button icons and scripts, is the service mark, trademark and/or trade dress of Bitsduckand may not be copied, imitated or used, in whole or in part, without prior written permission. 

9.15. All other trademarks, registered trademarks, product names and company names or logos mentioned through the Service are the property of their respective owners. Reference to any products, services, processes or other information, by name, trademark or otherwise does not constitute or imply endorsement, sponsorship or recommendation by Bitsduck.

10. Third Party Content

While using Service, you may view content provided by third parties, including links to web pages of such parties, including but not limited to Facebook links. Bitsduck does not control, endorse or adopt any such third-party content and shall have no responsibility for such content, including material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. Bitsduck are not responsible or liable for any loss or damage of any sort incurred from any dealings with third parties. Interaction and use of third party content is solely at your own risk.

11. Customer Complaints Procedure

11.1. Bitsduck is committed to the highest level of service and client satisfaction. Any dissatisfaction with Services, feedback or voicing the client’s opinion can be registered as a complaint. See instructions below.

11.2. Bitsduck is committed to treating you with respect and transparency, handling the complaint fairly, and providing a timely response. The response shall strive to be constructive and include an explanation and reasoning when possible.

11.3. In order to register a complaint, please prepare identifying information about yourself and the transaction in the subject of the complaint. The identifying information may include:

a) Your Bitsduck account number.

b) Full name and address, as provided when you have registered your account.

c)Transaction number.

11.4. Send your complaint by email to: [email protected]. Please state “complaint” in the subject.

11.5. The complainant will be informed by email about the process and the expected Time frame for investigation and resolution. Our staff will examine the complaint within 14 business days of receiving the complaint.

11.6. Company response will be delivered to you by email or certified mail.

11.7. Under special circumstances, the company may add 10 days to the examination period above. You will be informed as to the reason for the delay.

11.8. If you are not satisfied with the company response received in Stage One, you may request an additional review by a manager. Please explain why you are not satisfied with the response received in stage one. A manager will review the complaint and the response which was given on stage one within 14 business days. As far as possible, complaints or appeals will be investigated and resolved within 14 working days of being received on Stage Two. If this time cannot be met, you will be informed of why and the alternative time frame for resolution. The alternative time frame can be added to 10 business days.

12. Service Suspension and Termination

12.1. Bitsduck may, in its sole discretion, without liability to the customer, at any time and without prior notice, discontinue, temporarily or permanently, access to any Bitsduck Service.

12.2. In the event of any breach of these Terms  by a customer, Force Majeure Event, or any other event that would make provision of Service commercially unreasonable for Bitsduck, Bitsduck may, in its sole discretion and without liability to the customer, without prior notice, suspend your access to Service. Following such an event, Bitsduck may terminate your access to Service, deactivate your account and delete all related information.

12.3. Any use of our Services for the purpose of facilitating, participating in, or acting in relation to any Prohibited Uses, as set forth above and further specified in the applicable Schedule 2 to this Agreement, or suspicion of such Prohibited Uses, or any other circumstances that we hold or suspect in our discretion to be unreasonable, can lead to service disruptions, changes in services, account termination, suspension, deactivation, restriction or lead to reporting such activities by us to law enforcement agencies. 

12.4. We are permitted to terminate, suspend, discontinue, or restrict our Services or your account due to reasons including, but not limited to, the following circumstances:

a) a person logged into your account is not you;

b) we have determined or suspect that the account has been used by you or another party for any Prohibited Uses, operated for a Prohibited Business as specified in the applicableSchedule 1 of this Agreement or other erroneous, fraudulent, unlawful, or unauthorized purposes;

c) information that you have provided to us is incorrect, untruthful, or incomplete or has become outdated or irrelevant or there are issues with any further verification of your identity;

d) there are reasonable concerns or suspicions in relation to your financial status, including you become bankrupt of unsound mind, commit an act of bankruptcy, or an action was commenced against you in relation to bankruptcy; as a corporation, you are unable to pay debts that are due and payable or an action is commenced against you in regard to insolvency, receivership, administration, judicial management, or other relevant proceedings; a meeting with your creditors or an intention or realisation of any intended compromise or arrangement with or any assignment for the benefit of any relevant creditors was convened or implemented; you breached any of the Terms of this Agreement; you breached any explicit or implied warranties or representations; there are any unpaid monies owed to us or our Related Entities that have not been paid within a reasonable time; we are not able to contact you or communicate with you through any means within a reasonable timeframe in the circumstances; as required by applicable laws and regulations; or other reasons that we deem reasonably necessary in our discretion which are valid and legal under prevailing laws and regulations.

12.5. If you believe you are using our Services for or in connection to any one of the purposes of the Prohibited Uses, or are unsure whether your use or intended use may be a Prohibited Use, you must contact us directly without delay and refrain from using our Services until we have addressed any potential issues.

12.6. In the event of account termination, Bitsduck will attempt to return any Funds in your account after deduction of due fees.

13. Limitation of Liability 

13.1. Notwithstanding any other clause in this Agreement, in no event shall we, our parent companies, Related Entities, affiliates, officers, directors, agents, joint ventures, employees and suppliers liable or responsible to you or any other person for: 

a) General liabilities

(i) any direct or indirect losses, including but not limited to lost profits, loss of revenue, loss of opportunity or any special, indirect, punitive, exemplary, incidental or consequential damages or costs arising out of or in connection with our Platform, our Services, your account or this Agreement (howsoever arising, including negligence). 

(ii) in relation to a dispute (which has not been formally instigated through a legal action within one calendar year of the circumstances giving rise to the dispute), any losses forming part of part of such dispute. 

(iii) any direct or indirect losses, or damage caused by any viruses, phishing, spoofing, or any forms of malware or other attacks that may affect you, your computer, any of your electronic devices, equipment or other relevant hardware or reasonable loss arising from the negligence of or by us or contingencies beyond our control in procuring, compiling, interpreting, computing, reporting, or delivering our services. 

b) Tokens, Cryptocurrencies and Digital Assets

(i) any loss, theft, errors, malfunctions, corruption, destruction, unauthorised access or other damage of any tokens, cryptocurrencies, digital assets or any value held, whether due to external causes, hacking, technical failures, or any other causes which cannot be reasonably mitigated by us and those which may occur from time to time.

(c) Blockchain Technology and Protocols

(i) any disruptions, errors, delays, vulnerabilities or other consequences arising from the use of blockchain technology, or any harm occurring as a result of the inability to reverse a transaction, and any losses in connection therewith due to erroneous or fraudulent actions or other potential adverse events or adverse consequences. This includes but is not limited to:

(1) Consensus Mechanisms, and/or

(2) any issues arising from the consensus mechanisms employed by a blockchain, including proof of work, proof of stake, or other consensus algorithms.

(d) Forking and Network Upgrades

(i) any reasonable consequences arising from network forks, upgrades, or other changes to the underlying blockchain protocol. This includes circumstances and events which may result in the creation of new digital assets, potential instability, and uncertainties within a blockchain network.

(e) Network Congestion

(i) any reasonable delays, failures, or disruptions caused by network congestion or overload within the blockchain network. This includes circumstances where there may be high demand and transaction volumes can impact the speed and efficiency of blockchain transactions.

(f) Smart Contracts

(i) any losses or damages resulting from the execution of smart contracts, including but not limited to technical malfunctions, bugs, vulnerabilities, unintended consequences or other reasonable issues within the code of such contracts or those that are not capable of being reasonably mitigated by us.

(g) Malicious code 

(i) any losses, damages, delays, disruptions or failures caused by malicious code or malware that may affect the Platform, tokens, cryptocurrencies, digital assets, protocols, smart contracts and the provision of Services. 

13.2. You agree to defend, indemnify and hold harmless Bitsduck, its directors, members, employees, agents, officers, Related Entities, parent companies, and affiliates from any claim, demand, action, damage, loss, cost or expense, including reasonable legal fees, arising out or relating to your use of, or conduct in connection with, the Service, your violation of Terms , your violation of any rights of any other entity.

13.3. Bitsduck provides services on an “as is” and “as available” basis.

13.4. Bitsduck expressly disclaim, and you waive, all warranties of any kind, whether express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement, including the information, content and materials contained therein.

13.5. That information you store or transfer through Bitsduck services may become irretrievably lost, corrupted, or temporarily unavailable due to various causes, including but not limited to software failures, protocol changes, force majeure events, denial-of-service attacks, maintenance, or other causes. You acknowledge the above-stated risk and confirm you are solely responsible for backing up any information you store or transfer through Service.

13.6. Reporting. 

13.6.1. In connection with reporting or other compliance obligations, we may disclose the details of any transactions, whether for the buying, selling or transferring of fiat funds or Digital Assets to applicable regulatory agencies, including but not limited to regulatory agencies that govern anti-money laundering laws in Canada, such as The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), see https://www.fintrac-canafe.gc.ca/intro-eng

13.6.2. You acknowledge that we may report the details of certain types of transactions, large transactions and/or suspicious transactions conducted in connection with your Account (including your name and the transaction or transfer details such as the amount, digital wallet addresses and name of the intended recipient, if known) and in doing so, shall have no obligation to give you notice thereof.

13.6.3. We may also be required to respond to subpoenas, court processes and information requests we receive from government agencies and authorities, whether pursuant to the Income Tax Act, R.S.C 1985, c. 1 (5th Supp) or any other applicable legislation in Canada. You agree that we may respond to such requests with your personal information and Account details, where we are required to do so by law. See our Privacy Policy as well for details.

13.7. Taxes. You acknowledge that buying and selling Digital Assets may give rise to taxable gains and/or taxable losses, which you are likely required to report for tax purposes. You are encouraged to obtain professional tax advice in connection with your tax filing obligations arising from the buying and selling of Digital Assets. For general information about the taxation of cryptocurrencies published by the Government of Canada, please see https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/digital-currency/cryptocurrency-guide.html

14. Applicable Law

The Terms shall be governed by, construed and enforced according to the laws of Canada for Bitsduck.com and you submit to the non-exclusive jurisdiction of the courts in those jurisdictions. The parties shall use all reasonable efforts to amicably resolve any dispute or controversy arising directly out of this Agreement. In the event of a dispute which cannot be resolved by the parties themselves, parties, under separate express arrangements, may commence a mediation proceeding. The mediation will be conducted by a mediator, and in accordance with the rules prescribed by, the Resolution Institute. A mediation award, in the event of initiation such proceedings by both parties, shall be final and binding upon the parties. This clause does not limit the rights of the consumer provided by consumer protection legislation, or the right of any party to pursue any other remedies, including claim remedies before any competent court.

15. Miscellaneous

15.1. These Terms contain the entire agreement between you and Bitsduck and supersede all prior and contemporaneous understandings between the parties regarding the Service. Both parties hereby acknowledge that it has not relied on and shall have no right or remedy in respect of, any representation, assurance, warranty or statement, whether made directly or implied or due to negligence, other than as expressly set out in the terms of this Agreement.

15.2. Bitsduck reserves the right to make changes or modifications to these Terms from time to time, Bitsduck’s sole discretion, by posting the amended Terms on the website, and by communicating these changes through any written or other contact methods, we have established with you.

15.3. The amended Terms will be effective immediately after that, and your use of the Service following the date on which the amended Terms are published will constitute consent to such amendments.

15.4. Bitsduck failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver.

15.5. The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other Terms Use, all of which shall remain in full force and effect.

15.6. In conjunction with any legal or other remedies available under this Agreement or by law, we may set-off any amounts you owe to us under this Agreement or otherwise. Except as required by law, you must make all payments that are owed to us free and clear without any set-off, counterclaim, deduction or withholding of any kind.

15.7. We have taken relevant and reasonable steps to identify, manage and prevent conflicts of interest from adversely affecting the interests through any conflicts of interest between us, users and relevant third parties. We always reserve the right to decline to act for you where we are not able to manage a conflict of interest in any other way.

15.8. The descriptive headings of the Terms are inserted for convenience only and do not constitute a part of the Terms. 

15.9. You may not assign or transfer any of your rights or obligations under these Terms of Use, including in connection with any change of control.

15.10. Your rights or obligations under this Agreement cannot be assigned without our prior consent in writing. Bitsduck may assign or transfer any or all of its rights under these Terms of Use, in whole or in part, without obtaining your consent or approval.

15.11. Bitsduck may assign any or all of its rights under this Agreement in whole or in part by giving you reasonable notice in writing. Your contractual rights under this Agreement will not be detrimentally affected by the assignment.

Annex 1 – Prohibited Businesses 

The following categories of businesses, business practices, and sale items are barred from our Services (“Prohibited Businesses”). By opening an account, you confirm that you will not use our Services in connection with the following businesses, activities, practices, or items and immediately notify us if your use of our Services relates to:

1. Operating as an unlicensed money transmitter, money service, payment service provider, e-money, or any other financial services business which requires licensure, including but not limited to exchanges of virtual currencies, sales of money orders or traveller’s checks, and escrow services;

2. Counterfeit products or any product or service that infringes upon the copyright, trademark, or trade secrets of any third party;

3. Stolen goods or goods acquired through illicit means, including but not limited to fraud, embezzlement, money laundering, corruption or deceit;

4. Illegal narcotics, controlled substances, prescription and pharmaceutical services, drug paraphernalia, or any substances designed to mimic illegal drugs;

5. Illegal or prohibited gambling;

6. Illegal or prohibited sports forecasting or odds making;

7. Illegal escort services;

8. Violent acts towards self or others, or activities or items that encourage, promote, facilitate or instruct others regarding the same;

9. Funding any of the items included on this Prohibited Businesses list;

10. Extortion, blackmail, or efforts to induce unearned payments;

11. Unlicensed sale of firearms and certain weapons;

12. Engaging in deceptive marketing practices; or

13. Any business that violates any law, statute, ordinance or regulation.

Annex 2 – Prohibited Users

You may not use your Account to engage in the following categories of activity (“Prohibited Use”). By opening an Account operated by us, you confirm that you will not use your Account, whether directly or indirectly, and immediate notify us if your use relates to:

1. Violating or assisting any party to violate any law, statute, ordinance, regulation or any rule of any statutory body, government authority, judiciary, self-regulatory or similar organisation of which you are or are required to be a member (for example, those laws, rules, or regulations governing financial services, controlled substances, or consumer protections);

2. Undertaking or partaking in a transaction or activities which involves the proceeds of any unlawful activity;

3. Undertaking or partaking in activities that may constitute or result in an unlawful activity or harm to us or third parties, including those involving:

a) Unauthorised Financial Institutions and Money Service Businesses;

b) Unlicensed money transmission, unlicensed financial services, and other unregulated financial operations. This also includes securities brokers, unlicensed investment vehicles, check cashing services, collections agencies, and bail bonds; 

c) Drugs and narcotics: Illegal narcotics, drug paraphernalia, commercial drugs and other controlled substances, and other mind or body altering substances presenting a public health risk;

d) Stolen Items: Stolen goods including digital and virtual goods, all goods for which seller does not have clear rights of ownership, licence, or possession;

e) Shell Companies: Entities that appear to have no genuine business purpose or are otherwise designed to operate for a purpose other than that which they purport to operate under are prohibited;

f) Bearer Shares Entities: Customers transacting with, on behalf of, or in relation to entities for which the identity of beneficial owners are not known and in which ownership stakes are freely alienable are prohibited;

g) Adult Services and human trafficking: Services involving illegal prostitution, sale of illegal pornographic materials, and forms of human trafficking;

h) High Risk Entities: Any individual, group, or entity deemed to pose an inordinately high risk to us, our Related Entities, our customers, or other third parties may be considered unacceptably high risk and an unauthorised user;

i) Violence: Violent acts towards self or others, or activities or items that encourage, promote, facilitate or instruct others regarding the same;

j) Coercion: Extortion, blackmail, or efforts to induce unearned payment;

k) Weapon Sales: Unlicensed sale of firearms and certain weapons;

l) Money laundering and terrorism: Any acts relating to money laundering, terrorism, terrorism financing and proliferation financing and other unlawful activities, as regulated under the PCMLTFA Act, or other related legislation and any amendments thereto; and

m) Investment Schemes: Facilitate investment schemes such as pyramid schemes, ponzi schemes, network marketing, unlicensed investment vehicles, deceptive charity schemes, referral marketing programs or multi-level marketing programs;

n) Undertaking or partaking in any transaction involving illegal or prohibited gambling, including the conduct of online gambling, lotteries, casinos and informal gambling, gaming operations, sports betting, and other games of chance and forms of speculation not authorised or licensed by a government agency duly empowered by law to licence or authorise the conduct of such activities;

o) Defrauding or attempting to defraud MAYFAIR PAYMENTS INC., Services, our Related Entities, our directors, employees, agents, representatives or other users on the Platforms;

p) Infringing or engaging in activities or transactions that infringe upon any copyright, patent, trademark, or intellectual property rights registered under MAYFAIR PAYMENTS INC., Services or any third parties whether in Canada or other authorised intellectual property registers;

q) Undertaking or partaking in fraud or provision of any false, deceptive, inaccurate or misleading information to us, our users, our Related Entities, or other third parties for pecuniary gain or other ends;

r) Taking any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;

s) Interfering with another individual’s or entity’s access to or use of any of our Services;

t) Defaming, abusing, harassing, stalking, threatening or otherwise violating or infringing the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others;

u) Publishing, distributing or disseminating any unlawful material or information;

v) Transmitting or uploading any material to our Platforms that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs;

w) Harvesting or otherwise collecting information from our Platforms about others, including without limitation email addresses, without proper consent;

x) Acting as a payment intermediary or aggregator or otherwise resell any of our Services, unless expressly authorised by MAYFAIR PAYMENTS INC. in writing;

y) Transferring any rights granted to you under this Agreement;

z) Using the account information of another party to access or using our Platforms;

(ia) Otherwise attempting to gain unauthorised access to the Platforms, other accounts, computer systems or networks connected to our Platforms, through password mining or any other means;

(ib) Taking any action that we deem as circumventing our controls, including, but not limited to, opening multiple or abusing promotions which we may offer from time to time.