SECURED WORLDWIDE TERMS OF USE

  1. Terms

    These Terms of Use (“Terms”) govern the use of the VULT.com website (the “Site”) of Secured Worldwide, LLC and Secured Worldwide Limited (together, “we,” “us,” “SWW” or “Secured Worldwide”), any associated SWW websites and all services described therein. If you do not agree to any of the terms set forth in these Terms, or any subsequent modification to these Terms, you may not access or use any of the SWW Services and must cancel your VULT Account (each as defined in Section II below).

    We may modify these Terms at any time, and such modification shall be effective immediately upon posting on the Site.  Your continued access or use of the Site after the modifications have become effective shall be deemed your conclusive acceptance of the modified Terms and to be legally bound by the Terms.

    To be eligible to use the SWW Services, you must be at least 18 years old (or the applicable age of majority and contractual capacity). By accessing or using the SWW Services you represent and warrant that you meet this age requirement.

  2. Services

    We will provide users of the Site certain services identified from time to time on the Site (“SWW Services”).  The SWW Services will be available to you only upon your creating an account (a “VULT Account”) with us as more fully described below.

    A VULT Account allows users to purchase and sell VULT, track transactions and manage their VULT Account information. We can use a VULT Account to facilitate transactions pursuant to authorized instructions submitted to us.

    1. Creating a VULT Account

      In order to use any of the SWW Services, including the VULT Exchange, you must first create a VULT Account by providing your name, address, telephone number, e-mail address, nationality, date of birth, government identification number and password, as well as  affirming your acceptance of these Terms. Upon successful completion of the registration and verification process, we will establish your VULT Account. We may, in our sole discretion, refuse to allow you to establish a VULT Account.

    2. Identity Verification

      In order to use the SWW Services, including purchasing and selling a VULT through the VULT Exchange, you will be required to provide us with certain personal information, including, but not limited to, name, address, telephone number, e-mail address, nationality, date of birth, ID number and government identification number. We may also require you to answer certain questions or take actions in order to verify your identity, provide the SWW Services to you, or comply with applicable law. In submitting this or any other personal information as may be required, you verify that the information is accurate and authentic, and you agree to update SWW if any information changes. You hereby authorize us to, directly or through third parties, make any inquiries we consider necessary to verify your identity and/or protect against fraud, including to query identity information contained in public reports (e.g., your name, address, past addresses, or date of birth), and to take action we reasonably deem necessary based on the results of such inquiries and reports. You further authorize any and all third parties to which such inquiries or requests may be directed to fully respond to such inquiries or requests.

    3. VULT Transactions and VULT Account

      After successfully completing the applicable identity verification steps described in the Verification Procedures below, you may purchase a VULT from SWW. When you initiate a purchase transaction, we will provide a date by which your VULT will be available, which may depend on the time required for us to receive funds from your payment method and assemble the product. Although we will attempt to deliver your VULT to you as promptly as possible, funds may be debited from your primary payment method before the VULT is delivered to you or placed in custody of your VULT Account.

      By using a VULT Account, you agree and represent that you will only conduct transactions for yourself as the VULT Account holder, and not on a pass-through basis on behalf of any third party, unless you have obtained our prior approval. You may not sell, lease, furnish or otherwise permit or provide access to your VULT Account to any other entity or to individual. You accept full responsibility for your employees’ or agents’ use of your VULT Account or the VULT Exchange, whether such use is directly through the Site or by other means, such as those facilitated through applications which you may authorize. You understand and agree that you are responsible for any and all purchase, sale and other instructions entered into the VULT Exchange under identifiers, permissions, passwords and security codes associated with your VULT Account.

      We may suspend your VULT Account in accordance with these Terms. Suspension or termination of your VULT Account will not affect your obligation to pay any fees or other amounts that you owe to SWW or its affiliates. In the event that your VULT Account is suspended or terminated, we will immediately cancel all open orders associated with your VULT Account and bar the ability to place further orders until resolution or Account cancellation.

      The transmission and acceptance of funds in connection with VULT sales or the VULT Exchange is integral only to the sale of the goods and/or provision of SWW Services and not money transmission itself. Any transmission or acceptance of funds is ancillary to the goods or services provided by SWW.

      For the avoidance of doubt, SWW does not provide investment, tax or legal advice. All VULT transactions are executed based on the parameters of your instructions, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your investment, tax and legal advisers regarding your specific situation.

      Except as otherwise set forth herein, all sales are final and fees paid to SWW are non-refundable. We reserve the right to cancel orders, which, in our sole discretion, constitute an abusive use of the VULT sales and VULT Exchange process. We also reserve the right to cancel orders, which under the circumstances appear clearly erroneous with respect to price, quantity or other parameters. We reserve the right, in our sole discretion, to restrict size or frequency of any transactions.

    4. The VULT Exchange

      As part of the SWW Services offered in connection with your VULT Account, SWW may facilitate secondary market sales and purchases of VULT through the VULT Exchange. You may initiate a VULT Exchange transaction by accessing the VULT Exchange through the Site and entering the requisite information regarding the activity you would like to engage in. The parties to the VULT Exchange transactions will be anonymous. Before SWW will list your VULT for sale on the VULT Exchange, the VULT must be in the custody of SWW or its designated custodian.  The VULT must remain in SWW’s custody throughout the listing and sale of the VULT and the settlement of the VULT Exchange transaction. SWW will charge the seller of a VULT a fee (as described in Section II.F (Fees) below) upon completion of a VULT Exchange transaction. SWW may act as a market participant in transactions on the VULT Exchange, but is not under any obligation to do so and assumes no responsibility to act as a market maker.

      The VULT Exchange will allow you to place listings to buy or sell VULT in designated quantities and prices. Use of the VULT Exchange is subject to these Terms, including without limitation the indemnities, releases, disclaimers, limitations of liability, prohibited use, dispute resolution and cancellation policies set forth herein. VULT Exchange transactions are not completed until full payment has been received and delivery occurs. SWW reserves the right to refuse to process or to cancel any pending VULT Exchange transaction as required by law or in response to a subpoena, court order or other binding government order.

      SWW does not represent that the VULT Exchange and related services will be available without interruption. Although SWW will strive to provide you with continuous operations, SWW does not guarantee continuous access or that there will be no delays, failures, errors, omissions or loss of transmitted information, nor does SWW guarantee that any transaction will be executed, accepted, recorded or remain open. In the event of a significant system outage, SWW reserves the right to cancel any open transactions and/or suspend the VULT Exchange activity indefinitely.

      All property is sold on the VULT Exchange “AS IS” without any representations or warranties by SWW or the seller as to merchantability, fitness for a particular purpose, the correctness of the catalogue or other description of the physical condition, size, quality, rarity, importance, medium, provenance, exhibitions, literature or historical relevance of any property, and no statement anywhere, whether oral or written, shall be deemed such a warranty, representation or assumption of liability. SWW and the seller are not responsible for errors and omissions in the listing, or any supplemental material.

      Title in a purchased VULT on the VULT Exchange will not pass until SWW has received the full purchase price in cleared funds. SWW is not obligated to release the VULT to the purchaser until title to the item has passed and any earlier release does not affect the passing of title or the buyer’s unconditional obligation to pay the full purchase price. If payment of the full purchase price is not made in accordance with these Terms, SWW reserves the right to charge interest (as described in Section II.G (Payments) below). SWW further reserves the right to refuse to accept payment from a source other than the registered buyer.

      The authentication of a VULT sold on the VULT Exchange is solely for the benefit of the owner of record and such benefits may not be transferred to any third party. Any buyer disputing the authenticity of a VULT purchased through the VULT Exchange must notify SWW in writing within one (1) month of receiving any information that causes the buyer to question the authenticity of the VULT. SWW will not be bound by any reports or other findings produced by any purchaser and reserves the right to seek additional expert advice at its own expense. It is specifically understood and agreed that the rescission of a sale and the refund of the original purchase price paid is the buyer’s exclusive remedy, in lieu of any other remedy that might otherwise be available as a matter of law or in equity.

    5. VULT Storage and Malca-Amit International Network®

      VULT owners may elect to place some or all of their VULT in secure storage provided by Malca-Amit International Network® (http://www.malca-amit.com/), with related shipping, storage and insurance costs to be assessed and collected by SWW. VULT held in custody at a Malca-Amit vaulting facility will be shipped only to registered customers and approved addresses. Sell orders on the VULT Exchange will only be accepted if the VULT is in custody at a Malca-Amit facility prior to or concurrent with the entry of a sell order.  The settlement and completion of a VULT Exchange transaction facilitated by SWW may be affected by possible delays due to retrieval processes at Malca-Amit vaulting facilties or disruptions in global logistics networks, and you agree not to hold SWW responsible for any damages or injury arising out of or related to such delays.

    6. Commissions and other charges

      In connection with each VULT Exchange transaction, SWW will charge the seller and the buyer commissions and the costs of shipping and insurance as specified on the Site from time to time. These amounts will be added to or deducted from the purchase price payable in the transaction, as applicable.

    7. Payments

      If you purchase a VULT through the Site, you agree to pay the applicable purchase price to SWW upon confirmation of the order, regardless of changes (if any) in the value of the VULT between the time of confirmation and the completion of the transaction.  You agree to make such payment in immediately available funds in the amount calculated in the manner specified herein. If payment of the purchase price is not made in full in accordance with these Terms, in addition to other remedies available to SWW by law, SWW reserves the right to charge interest from the date of confirmation equal to the United States Prime Lending Rate plus six percent (6%). SWW further reserves the right to refuse to accept payment from a source other than the registered buyer.

      If your primary payment method results in the payment of insufficient funds to cover the purchase price of any VULT or any other amounts owed by you to us hereunder, we will immediately terminate the transaction. SWW is under no obligation to attempt to complete your purchase using an alternative payment method should your primary payment method fail in whole or in part. You hereby authorize us to utilize any of your payment methods that have been linked to your VULT Account to debit or charge the full or partial amount of the applicable purchase price and any other amounts owed by you to us. We may resubmit debits or charges through your payment methods until all amounts owed by you to us are satisfied in full. You are responsible for maintaining an adequate balance in each of your accounts and sufficient credit limits on your credit cards in order to avoid any overdraft, non-sufficient funds (“NSF”) fees or similar fees. To secure the performance of your obligations under these Terms, you grant to SWW a security interest in any and all of your funds or other property that come into the possession of SWW, in your VULT Account or otherwise. You will execute, deliver and pay the cost of producing any documents we may request to create, perfect, maintain and enforce this security interest.

      We may suspend the shipment or transfer of any VULT held in your VULT Account (i) in the event that the payment of the purchase of a VULT using a bank account or credit card is subsequently reversed, subject to chargebacks or other claims, or is otherwise invalidated, of (ii) if any other amount payable to SWW is overdue.

      SWW reserves the right in its sole discretion to refuse to process, or to cancel or reverse, any purchase or sale of a VULT, even after the purchase price therefor has been received.  Circumstance in which SWW may exercise this right include, without limitation, instances where SWW suspects the transaction involves (or has a high risk of involving) money laundering, terrorist financing, fraud or any other type of financial crime, in response to a subpoena, court order or other government order, or if SWW suspects the transaction relates to a Prohibited Use or a Prohibited Business as described below. In such instances, SWW will reverse the transaction and we are under no obligation to allow you to reinstate a purchase or sale order at the same price or on the same terms as the cancelled transaction.

    8. Limits

      SWW may impose limits on the number of VULT that you may buy, sell or trade in a given time period, as further described in Section III.B (Verification Procedures and Limits) below. SWW reserves the right to change the limits imposed, as we deem necessary or appropriate from time to time. SWW does not guarantee the availability of the VULT Exchange.

      We may require you to submit additional information about yourself or your business, provide records, and arrange for meetings with SWW staff (such process, “Enhanced Due Diligence“) if your transactions meet certain government reporting thresholds, such as thresholds regarding financial recordkeeping and tax reporting. SWW reserves the right to charge you costs and fees associated with Enhanced Due Diligence, provided that we notify you in advance of any such charges accruing. SWW may refuse a purchase or sale even if you have completed Enhanced Due Diligence.

    9. Taxes

      It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions associated with your purchase, sale or transfer of a VULT, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Your transaction history is available through your VULT Account.

  3. General Use, Prohibited Use and Termination

    You hereby certify to us either that any funds used by you in connection with the SWW Services are owned by you or that you are validly authorized to carry out transactions using such funds. In particular, you acknowledge that SWW may not be a qualified custodian under applicable law, and represent that your use of the SWW Services complies with any applicable requirements governing the maintenance and use of fiduciary accounts and custodial assets.

    1. Prohibited Businesses and Prohibited Uses

      In connection with your use of the SWW Services, and your interactions with other users and third parties, you agree and represent you will not engage in any Prohibited Business or Prohibited Use (each as defined below). We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, legal process or governmental request. We reserve the right to cancel and/or suspend your VULT Account immediately and without notice if we determine, in our sole discretion, that your Account is associated with Prohibited Use and/or a Prohibited Business.

      The following categories of businesses, activities, business practices and items (each a “Prohibited Business”) are barred from the Site and the SWW Services. By accessing the Site, using the SWW Services, creating a VULT Account or purchasing a VULT, you confirm that you will not use the Site, your VULT Account or other SWW facilities to accept or send payments in connection with the following businesses, activities, business practices or items:

      1. Operating as an unlicensed money transmitter, money service, payment service provider, e-money or any other financial services business which may require licensure, including but not limited to exchanges of virtual currencies, sales of money orders or traveler’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.
      4. Narcotics, controlled substances, prescription and pharmaceutical services, drug paraphernalia or any substances designed to mimic illegal drugs.
      5. Gambling.
      6. Sports forecasting or odds making.
      7. Prostitution or 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.
      13. Any business that violates any law, statute, ordinance or regulation.

      You may not use a VULT product, a VULT Account or the VULT Exchange to engage in the following categories of activity (each a “Prohibited Use“). By accessing the Site, using the SWW Services, creating a VULT Account or purchasing a VULT, you confirm that you will not use the SWW Services or products to do any of the following:

      1. Use a VULT product as a form of unlawful payment for goods or services not provided by SWW.
      2. Violate or assist any party in violating any law, statute, ordinance or regulation, or any rule of any self-regulatory or similar organization 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).
      3. Partake in a transaction that involves the proceeds of any unlawful activity.
      4. Partake in any transaction involving online gambling.
      5. Defraud or attempt to defraud SWW or other SWW users.
      6. Infringe upon SWW’s or any third party’s copyright, patent, trademark or intellectual property rights.
      7. Provide false, inaccurate or misleading information.
      8. Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interferes with, intercepts or expropriates any system, data or information.
      9. Interfere with another individual’s or entity’s access to or use of any of the SWW Services.
      10. Defame, abuse, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others.
      11. Publish, distribute or disseminate any unlawful material or information.
      12. Transmit or upload any material to the Site that contains viruses, Trojan horses, worms or any other harmful or deleterious programs.
      13. Harvest or otherwise collect information from the Site about others, including without limitation email addresses.
      14. Act as a payment intermediary or aggregator or otherwise resell any of the SWW Services, unless expressly authorized by SWW in writing.
      15. Transfer any rights granted to you under these Terms.
      16. Use the VULT Account information of another party to access or use the Site, except in the case of specific applications that are specifically authorized by a user to access such user’s VULT Account and information.
      17. Otherwise attempt to gain unauthorized access to the Site, other VULT Accounts, computer systems or networks connected to the Site, through password mining or any other means.
    2. Verification Procedures and Limits

      SWW uses multi-level systems and procedures to collect and verify information about you in order to protect SWW and the community from fraudulent users and to keep appropriate records of SWW’s customers. SWW may also limit activity on the VULT Exchange to comply with all applicable laws or in response to a subpoena, court order or other binding government order. All users who wish to buy a VULT through SWW, at minimum, must provide the following:

      1. Your name, address, telephone number, e-mail address, nationality, date of birth, government identification number, source of funds and acceptance of these Terms.
      2. Complete identity verification by answering certain questions.

      In addition, all users who wish to use the VULT Exchange, at minimum, must:

      1. Create a VULT Account by providing SWW with your name, address, telephone number, e-mail address, nationality, date of birth, government identification number, source of funds, country of primary residency, occupation, applicable tax forms, and acceptance of these Terms.
      2. Provide complete identity verification by answering certain questions.

      Notwithstanding these minimum verification procedures for accessing the Site and the SWW Services, SWW may require you to provide or verify additional information, or to wait some amount of time after completion of a transaction, before permitting you to use any of the SWW Services and/or before permitting you to engage in transactions.

    3. Export Controls and Sanctions

      The supply of VULT and the SWW Services through the Site is subject to United States and international export controls and economic sanctions requirements. By acquiring any such items through the Site, you represent and warrant that your acquisition comports with and your use of the item will comport with those requirements. Without limiting the foregoing, you may not acquire a VULT or use any of the SWW Services through the Site if: (1) you are in, under the control of, or a national or resident of Cuba, Iran, North Korea, Sudan or Syria or any other country subject to United States embargo, UN sanctions, HM Treasury’s financial sanctions regime, or if you are on the U.S. Treasury Department’s Specially Designated Nationals List, or the U.S. Commerce Department’s Denied Persons List, Unverified List, or Entity List, or (2) you intend to supply the acquired VULT to Cuba, Iran, North Korea, Sudan or Syria or any other country subject to United States embargo, UN sanctions, HM Treasury’s financial sanctions regime (or a national or resident of one of these countries) or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List or Entity List.

      Pursuant to the economic sanctions programs administered in the countries where SWW conducts business, including but not limited to programs administered by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC“), SWW is prohibited from providing services or entering into relationships with certain individuals and entities. In the event that SWW is required to block assets associated with your VULT Account in accordance with a sanctions program, or other similar government sanctions programs, SWW may deactivate or cancel your VULT Account or block user activity. SWW is not responsible for any losses, whether direct or indirect, that you may incur as a result of our complying with applicable law, the guidance or direction of any regulatory authority or government agency, or any writ of attachment, lien, levy, subpoena, warrant or other legal order.

    4. Suspension, Termination and Cancellation

      SWW may: (a) suspend, restrict or terminate your access to any or all of the SWW Services, and/or (b) deactivate or cancel your VULT Account if:

      1. We are so required by a facially valid subpoena, court order or binding order of a government authority; or
      2. We reasonably suspect you of using your VULT Account in connection with a Prohibited Business or a Prohibited Use;
      3. Use of your VULT Account is subject to any pending litigation, investigation or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your VULT Account activity; or
      4. You take any action that SWW deems as circumventing SWW’s controls.

      You may cancel your VULT Account at any time by transferring or selling all VULT owned by you and notifying SWW customer relations. You will not be charged for canceling your VULT Account and will only be required to pay for those SWW Services used that are subject to charges. If any transaction is in a pending state at the time your VULT Account is cancelled or suspended, such transaction may be cancelled and/or refunded as appropriate. You may not cancel your VULT Account to evade an investigation or avoid paying any amounts otherwise due to SWW. Upon cancellation of your VULT Account, you authorize SWW to cancel or suspend pending transactions and to hold the funds associated with such transactions until SWW is certain that funding reversal windows are complete. In the event that you or SWW alters these Terms or terminates your access to the SWW Services, or deactivates or cancels your VULT Account, you will remain liable for all amounts due hereunder. In the event that a technical problem causes a system outage or VULT Account errors, SWW may temporarily suspend access to your VULT Account until the problem is resolved.

    5. Limited License

      SWW grants you a limited, non-exclusive, non-transferable license, subject to these Terms, to access and use the Site and the content, materials, information and functionality available in connection therewith (collectively, the “Content“) solely for informational, transactional or other approved purposes as permitted by SWW from time to time. Any other use of the Site or the Content is expressly prohibited. All other rights in the Site or the Content are reserved by our licensors and us. We reserve all rights in the Site and the Content and you agree that these Terms do not grant you any rights in or licenses to the Site or the Content, except for this express, limited license. You will not otherwise copy, transmit, distribute, sell, resell, license, de-compile, reverse engineer, disassemble, modify, publish, participate in the transfer or sale of, create derivative works from, perform, display, incorporate into another website, or in any other way exploit any of the Content or any other part of the Site or any derivative works thereof, in whole or in part, for commercial or non-commercial purposes. Without limiting the foregoing, you will not frame or display the Site or the Content (or any portion thereof) as part of any other website or any other work of authorship without our prior written permission. If you violate any portion of these Terms, your permission to access and use the Site and the SWW Services may be terminated pursuant to these Terms. In addition, we reserve the right to all remedies available at law and in equity for any such violation. “VULT,” “VULT Exchange,” and all logos related to the SWW Services or displayed on the Site are either trademarks or registered marks of SWW or its licensors. You may not copy, imitate or use them without our prior written permission.

    6. Disclaimer and Website Accuracy

      Although we intend to provide accurate and timely information on the Site, the Site (including, without limitation, the Content) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the Site are your sole responsibility and we shall have no liability for such decisions.

       

      From time to time, the Site may contain references or links to third-party materials (including without limitation websites) and third-party applications which are not controlled by us. Such information, links and third-party applications are provided as a convenience to you. Such links should not be considered endorsements and such reference does not imply our recommendation, approval, affiliation or sponsorship of that respective property, product, service or process. You acknowledge and agree that we are not responsible for any aspect of the information, content or services contained in any third-party materials or on any third party sites accessible or linked to the Site, including without limitation content, property, goods or services available on the linked sites or services.

    7. Risks:

      A transaction may be unconfirmed for a period of time (usually less than one hour, but up to one day or more) pending confirmation of the transaction and verification by SWW.

      The risk of loss in investing in or holding a VULT can be substantial. You should therefore carefully consider whether investing in or holding a VULT is suitable for you in light of your financial condition. In considering whether to trade or invest in a VULT, you should be aware that the price or value of a VULT could rapidly decline. SWW is not responsible for any loss of a VULT resulting from theft or mishandling of a VULT outside its control.

  4. Relationship to You

    SWW is an independent contractor for all purposes. Nothing in these Terms will be deemed or is intended to be deemed to cause you and SWW to be treated as partners, joint ventures or otherwise as joint associates for profit, or either you or SWW to be treated as the agent of the other.

    From time to time, SWW may engage third parties to assist SWW in providing certain aspects of the SWW Services (each, a “Service Provider“). Service Providers may include, but are not limited to, SWW’s banking partners and technology or engineering service providers.

    1. Responsibilities

      Protecting your privacy is very important to SWW. Please review SWW’s Privacy Policy (see Section V.N (Privacy) below), which is hereby incorporated by reference into these Terms, in order to better understand our commitment to maintaining your privacy, as well as our use and disclosure of your information.

      If you receive information about another user through the SWW Services, you must keep the information confidential and only use it in connection with the SWW Services. You may not disclose or distribute a user’s information to a third party or use the information except as reasonably necessary to effectuate a transaction and other functions reasonably incidental thereto such as support, reconciliation and accounting unless you receive the user’s express consent to do so. You may not send unsolicited email to a user through the Site or the VULT Exchange.

    2. Security

      You are responsible for maintaining adequate security and control of any and all IDs, passwords, hints, personal identification numbers (PINs), API keys or any other codes that you use to access the Site or the SWW Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your VULT Account by third-parties and the loss or theft of any VULT in your VULT Account and any associated accounts, including your linked bank account(s) and credit card(s). You are responsible for keeping your email address and telephone number up to date in your Account Profile in order to receive any notices or alerts that we may send you. We assume no responsibility for any loss that you may sustain due to compromise of your sensitive information or failure to follow or act on any notices or alerts that we may send to you. In the event you believe your VULT Account information has been compromised, please contact SWW Support immediately at support@vult.com.

    3. Electronic Records

      By accessing and using the Site and the SWW Services, you agree that SWW may provide you with any notices or other communications about your VULT Account and the SWW Services electronically: (a) via email (in each case to the address that you provide), SMS message or telephone call (in each case to the phone number that you provide) or (b) by posting to the Site. For notices made by email, the date of receipt will be deemed the date on which such notice is transmitted. If you do not wish to receive notices or other communications electronically, we will be unable to support your VULT Account and your VULT Account will be cancelled.

  5. General Terms
    1. Governing Law

      These Terms and the agreement to arbitrate, and any claim or dispute of any kind or nature whatsoever arising out of or in any way relating to these Terms or the use of the Site or the Services, directly or indirectly, shall be governed by and construed in accordance with the law of the State of New York (without regard to its conflicts of laws principles, except for the General Obligations Law 5-1401).

    2. Arbitration

      If you have a dispute with SWW, we will attempt to resolve any such disputes through our Customer Relations team. If we cannot resolve the dispute through our Customer Relations team, you and we agree that any dispute arising under these Terms shall be finally settled in arbitration on an individual basis in accordance with the American Arbitration Association’s Commercial Dispute Resolution Procedures for arbitration of consumer-related disputes, and you and we hereby expressly waive any right to trial by jury. The arbitration shall take place in the County and State of New York, in the English language, and the arbitral decision may be enforced in any court. At your request, hearings may be conducted in person or by telephone and the arbitrator may provide for submitting and determining motions on briefs without oral hearings. The prevailing party in any action or proceeding to enforce these Terms shall be entitled to costs and attorneys’ fees. Additionally, you hereby waive your right to participate in a class action lawsuit or class-wide arbitration.

      You agree that any claim you may have arising out of or related to your relationship with SWW must be filed promptly, but in no event will a claim be accepted for review if not properly submitted within one year of when the claim or issue arose. If not submitted within this timeframe, your claim is permanently barred.

    3. Release of SWW

      You hereby release SWW, its affiliates and service providers, and each of their respective members, directors, officers, agents, joint venturers, employees and representatives from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with your use of the Site, the SWW Services and the VULT Exchange. In addition, in agreeing to this release, you expressly waive any protections (whether statutory or otherwise) that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.

    4. Limitations

      IN NO EVENT SHALL SWW, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE MEMBERS, DIRECTORS, OFFICERS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH THE SWW SITE, THE SWW SERVICES OR THESE TERMS (HOWEVER ARISING, INCLUDING NEGLIGENCE). Some states do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation or exclusion may not apply to you. THE LIABILITY OF SWW, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE MEMBERS, DIRECTORS, OFFICERS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE, IS LIMITED TO THE LOWER OF (A) THE ACTUAL AMOUNT OF DIRECT DAMAGES; OR (B) FEES PAID TO SWW BY YOU IN THE PRECEDING THREE (3) MONTHS.

      We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and you should use care in reviewing messages purporting to originate from SWW. Always log into your VULT Account through the Site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.

    5. No Warranty

      THE SWW SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. SWW SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. SWW DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO ANY PART OF THE SWW SERVICES, OR ANY OF THE MATERIALS CONTAINED THEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, ERROR-FREE OR SECURE. OPERATION OF THE SWW SITE MAY BE INTERFERED WITH BY NUMEROUS FACTORS OUTSIDE OF OUR CONTROL. WE ARE NOT RESPONSIBLE FOR THE VULT MARKET, AND WE MAKE NO REPRESENTATIONS OR WARRANTIES CONCERNING THE REAL OR PERCEIVED VALUE OF ANY VULT. ALTHOUGH WE MAY PROVIDE HISTORICAL AND/OR REAL-TIME DATA REGARDING THE PRICE OF VULT, WE MAKE NO REPRESENTATIONS REGARDING THE QUALITY, SUITABILITY, TRUTH, USEFULNESS, ACCURACY OR COMPLETENESS OF SUCH DATA, AND YOU SHOULD NOT RELY ON SUCH DATA FOR ANY REASON WHATSOEVER. YOU UNDERSTAND AND AGREE THAT THE VALUE OF VULTS CAN BE VOLATILE, AND WE ARE NOT IN ANY WAY RESPONSIBLE OR LIABLE FOR ANY LOSSES YOU MAY INCUR BY HOLDING OR TRADING VULTS, EVEN IF THE SWW SERVICES ARE DELAYED, SUSPENDED OR INTERRUPTED FOR ANY REASON. FURTHER, SWW MAKES NO REPRESENTATIONS OR WARRANTIES AS TO THE QUALITY, SUITABILITY, TRUTH, USEFULNESS, ACCURACY OR COMPLETENESS OF THE SWW SERVICES OR ANY MATERIALS CONTAINED THEREIN. SWW WILL MAKE REASONABLE EFFORTS TO ENSURE THAT REQUESTS ARE PROCESSED IN A TIMELY MANNER BUT SWW MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING THE AMOUNT OF TIME NEEDED TO COMPLETE PROCESSING BECAUSE THE SWW SERVICES ARE DEPENDENT UPON MANY FACTORS OUTSIDE OF OUR CONTROL, SUCH AS DELAYS IN THE BANKING SYSTEM OR THE U.S. OR INTERNATIONAL MAIL SERVICE. SOME STATES DO NOT ALLOW THE DISCLAIMER OF IMPLIED WARRANTIES, SO THE FOREGOING DISCLAIMERS MAY NOT APPLY TO YOU. THIS PARAGRAPH GIVES YOU SPECIFIC LEGAL RIGHTS AND YOU MAY ALSO HAVE OTHER LEGAL RIGHTS THAT VARY FROM STATE TO STATE.

    6. Indemnification

      You agree to indemnify and hold SWW, its affiliates and Service Providers, and each of their respective members, directors, officers, agents, joint venturers, employees and representatives, harmless from any claim or demand (including attorneys’ fees and any fines, fees or penalties imposed by any regulatory authority) arising out of or related to (i) your breach of these Terms, (ii) your use of the Site or the SWW Services, or (iii) your violation of any law, rule or regulation, or the rights of any third party.

    7. Entire Agreement

      These Terms set forth the entire understanding and agreement between you and SWW as to the subject matter hereof and supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of these Terms) between and among you and SWW.

    8. Assignment

      These Terms, and any rights and licenses granted hereunder, may not be transferred or assigned by you, but may be assigned by SWW without restriction, including without limitation to any of its affiliates or subsidiaries, or to any successor in interest of any business associated with the SWW Services. Any attempted transfer or assignment in violation hereof shall be null and void. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.

    9. Severability

      If any provision of these Terms shall be determined to be invalid or unenforceable under any rule, law or regulation or any governmental agency, local, state or federal, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of these Terms shall not be affected

    10. Change of Control

      In the event that SWW is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale or other change of control.

    11. Survival

      All provisions of these Terms, which by their nature extend beyond the expiration or termination of these Terms, including without limitation sections pertaining to suspension or termination, VULT Account cancellation, debts owed to SWW, general use of the Site, disputes with SWW and general provisions, shall survive the termination or expiration of these Terms.

    12. Force Majeure

      SWW shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.

    13. Section Headings and Language

      Section headings in these Terms are for convenience only, and shall not govern the meaning or interpretation of any provision of these Terms.

      Notwithstanding any other provision of these Terms, any translation of these Terms is provided for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.

    14. Privacy

      The terms and conditions of our Privacy Policy (http://www.vult.com/privacy/) are hereby made a part of these Terms. 

  6. Contacting SWW

    SWW prefers electronic notice using our support system at support@VULT.com.

    Written notifications can also be sent to: Secured Worldwide, LLC, 50 W47th Street, Suite 910, New York, NY 10036, USA.

Updated by Secured Worldwide, LLC and Secured Worldwide Limited on December 23, 2015.