Terms and conditions

1. Agreement to Terms

1.1. Agreement to Terms

1.2. These Terms are a binding agreement between INWAY AG, a company incorporated under the laws of the Principality of Liechtenstein, with a registered office at Vaduz, (the “Company”, “us,” “our”, or “we”) and you, the person who uses the Services and the App (the “Client”, “you”, “your”, or “yourself”).

1.3. By using the App, you expressly acknowledge that: (i) you have read and understood these Terms; (ii) you agree to comply with the Terms governing your use of the App and the services offered through the App (the “Services”).

1.4. It is your own responsibility to read the Terms carefully before you start to use the App or the Services. In addition to the Terms, you should also read our Privacy Policy (the “Privacy Policy”) carefully, which sets out how we collect and use your personal data and information.

1.5. We may suspend, modify, remove or add to the Services at any time.

1.6. The Company has no obligation to check whether users are using the Services and/or the App in accordance with the Terms, as updated from time to time.

2. Changes to Terms

2.1. We reserve the right to update or modify these Terms at any time at our sole discretion. If we do so, we will let you know by either posting the revised Terms on our website, on our App, or through other methods of communication which we deem reasonable. Such revised Terms as posted will take effect immediately on the date of publication on the website unless otherwise indicated. You should regularly check our website to inform yourself of any such changes and decide whether or not to accept the revised version of these Terms.

2.2. If you continue to use the App following any update or modification of the Terms, you shall be deemed to have accepted the revised Terms. If you do not agree to the Terms or any update or modification to the Terms, you must cease to access or use our App and Services.

2.3. We may change or discontinue all or any part of the provided services through the App at any time, without prior notice, at our sole discretion and without any liability.

3. Changes to software/App

3.1. The software and the App develop over time, and it is required to install updates to the Apps in order to keep using the App software having access to the latest features, services, and security updates.

3.2. You waive all claims and agree not to hold liable INWAY AG for any damages occurred due to third-party software that you have been using but was not partially or fully compatible with the App.

3.3. We may update IW software/the App at any time, without provision of notice.

4. Eligibility

4.1. If you are using the App as a natural person, you are of the age of majority in your jurisdiction of residence, or older, and are not barred from using the App and the Services under all applicable laws.

4.2. If you are using the App on behalf of a legal entity, you represent and warrant that you have the legal authority to bind that entity to these Terms.

4.3. For the avoidance of doubt, you may not use IW Services/the App if you are located in, or a citizen or resident of any state, country, territory, or other jurisdiction where your use of IW Services and the App would be illegal or otherwise violate any applicable laws.

4.4. It is your obligation and responsibility to make sure that these Terms are in compliance with all laws, rules, and regulations that apply to you.

4.5. By using our Services, you represent and warrant that you meet all eligibility requirements that we outline in these Terms. We may still refuse to let certain people access or use the App and IW Services, however, and we reserve the right to change our eligibility criteria at any time, without any liability and provision of notice.

5. Description of scope of services provided through the IW and the App

5.1. IW allows you to:

5.1.1. generate wallet addresses and associated private keys that you may use to send and receive Digital Assets;

5.1.2. import associated private keys with a recovery phrase on other crypto wallets;

5.1.3. browse and access third-party application(s) and third-party service(s);

5.1.4. digital assets service(s) through third-party functionality made available by third-party service provider(s);

5.1.5. view Digital Asset price information made available by third-party service provider(s); and

5.1.6. broadcast Digital Asset transaction data to various blockchains supported by IW without requiring you to download or install the associated blockchain-based software to your local device.

6. Security of your Private Information

6.1. We do not store your passwords, wallet address, private keys, and recovery phrase (“Private Information”).

6.2. It is your responsibility to secure your Private Information. Losing Private Information could result in a loss of access to Digital Assets. INWAY AG is not liable for any loss or theft of such data due to any reasons.

6.3. You acknowledge your full responsibility to secure and retain your recovery phrase. In case of losing it, it may result in the inability to access your Digital Assets. INWAY AG is not liable for the security of your recovery phrase.

7. Digital Asset Transactions

7.1. IW is a solution that gives access to your wallets on blockchains that store your respective Digital Assets and allows you to send your Digital Assets. IW supports Digital Assets via its software/the App provided by INWAY AG, and the latter may amend the list of supported Digital Assets at any time at its sole discretion without any liability.

7.2. INWAY AG does not provide any virtual asset services or other services subject to a notification, registration, or license with the Financial Market Authority Liechtenstein (FMA) pursuant to Article 5 of the Liechtenstein Act on Financial Market Supervision (FMAG). INWAY AG only provides a technological software platform for non-custodial wallets.

7.3. Any transaction created is confirmed and recorded in the respective blockchain. Transactions on any blockchain are final and will not be settled, brokered, or solicited by INWAY AG due to the decentralized nature of the blockchain. Likewise, the transactions cannot be undone, cancelled, withdrawn, or refunded. There may be transaction fees (e.g., mining fees) associated with your Digital Asset transactions.

7.4. INWAY AG has no control over the blockchains and does not guarantee that initiated transactions of Digital Assets shall be processed by the respective blockchain.

7.5. INWAY AG is not responsible for any loss incurred by you caused in whole or in part, directly or indirectly, by a network disruption within a respective blockchain or incorrectly initiated by you transaction of Digital Assets.

8. Blockchains

8.1. The Company is not the creator of and does not have any control over any of the Digital Assets that the App allows you to use. Your balance and actual transaction history are supported by each Digital Asset block explorers.

9. Third Party Services

9.1. You acknowledge and agree that all cryptocurrency services and information provided through the App are executed by third-party service providers, and that IW does not itself provide data on prices or Digital Assets.

9.2. Third-Party Service providers have their own terms and conditions, policies, and INWAY AG does not control the terms, policies, or performance of any third party, and is not responsible for any performance or failure to perform of any third-party software, site, or services, including pricing information, rates, processing of transactions, and similar activities.

9.3. INWAY AG does not provide customer support for transactions performed on third-party API provider’s software, site, or services. When you leave the IW software/the App and access the third-party’s software, their terms of service govern.

9.4. INWAY AG retains the exclusive right to add to, modify, or cancel the availability of any third-party service.

10. Third-party Applications, Third-party Service(s) & Cross-Chain Swaps

10.1. If you access or use third-party applications or third-party service(s), including, without limitation, third-party application functionality embedded within the Services, you acknowledge and agree that:

10.1.1. You expressly and without exception meet the requisite eligibility criteria as set out in section 4 of these Terms.

10.1.2. IW is not responsible for your access or use of third-party applications or third-party service(s), and shall have no liability whatsoever in connection with your use of third-party applications or third-party service(s), including, without limitation, any transactions you dispute.

10.1.3. The limits of amounts that you may use via third-party service(s) per day shall be subject to any requirements of the third-party-developed Smart Contracts.

10.1.4. Blockchain operations are irrevocable, meaning when you conduct any transactions via third-party applications or third-party service(s), you shall be solely responsible for the consequences of any issues associated with such transactions, including, without limitation, your transfer to an incorrect address or problems associated with the node servers selected by you.

10.1.5. When you use third-party applications or third-party service(s), third-party developed Smart Contracts may charge you handling fees and/or service fees, and any information displayed on the App relating to such fees is for your reference only as the App cannot and does not guarantee its accuracy, applicability, reliability, integrity, or appropriateness, nor shall IW be liable for any loss or damage that may be caused directly or indirectly by your use of these contents.

10.1.6. IW does not charge transaction or handling fees; however, standard blockchain transaction fees may apply, which vary by network.

11. Intellectual Property

11.1. By agreeing to these Terms, you are granted, for your personal or internal business use, a non-exclusive, non-transferable, non-sublicensable license to use IW/the App.

11.2. You are not permitted to:

11.2.1. Copy, redistribute, publish, reverse engineer, decompile, disassemble, modify, translate, or make any attempt to access the source code to create derivative works of the source code, or otherwise of IW;

11.2.2. Rent, lease, distribute, sell, sublicense, or transfer IW;

11.2.3. Make the App and IW Services available to any third party through a computer network or otherwise;

11.2.4. Incorporate IW into a product or service you provide to a third party without our prior written consent;

11.2.5. Make the IW Software available to any third party through a computer network or otherwise use IW for competitive analysis, as part of any other software or project of any kind, or to build competitive products.

12. Risk Factors

12.1. IW specifically disclaims and shall have no liability to you for the following risks:

12.1.1. Operating system failures (mobile); and,

12.1.2. Interactions between your hardware, software, and the App; and,

12.1.3. Malware, viruses, or other malicious software on your device that is able to take control of or interfere with the App; and,

12.1.4. Communication delays between the IW and a node or relay service for a Digital Asset (and vice versa); and,

12.1.5. Failure to achieve a certain market value/price for a Digital Asset, whether through a third-party service or any other kind of transaction; and, theft of Digital Assets.

12.1.6. Losing your device on which you use IW;

12.1.7. Using IW you did not setup password;

12.1.8. Losing your backup without password.

13. Disclaimer

13.1. Inway AG/IW does not provide any digital asset services or any financial services, nor does it provide any advisory, mediation, brokerage, or agent services. Digital asset services are provided to IW customers by third-party service providers, whose activities and services are beyond our control. We urge all our customers to familiarize themselves with the terms and conditions of third-party digital asset service providers before engaging in a business relationship. We also note that IW is not a creator and does not have any control over any of the virtual assets that our App allows IW customers to use. Balances and actual transaction history of our customers are supported by separate blockchain explorers of each digital asset. We do not collect or store any private keys, backup phrases, or passwords. Furthermore, IW does not hold, collect, or transfer any assets from or to its customers’ wallets in any form.

14. No Warranty

14.1. IW Services are provided to you at no cost, “as-is” and without any warranty whatsoever, to the maximum extent permissible by law. Without limiting the generality of the foregoing, the Company does not warrant that IW is fit for your purpose, even if you have previously provided notice.

15. Limitation of Liability

15.1. IN NO EVENT WILL IW BE LIABLE TO YOU FOR: ANY LOST PROFITS, REVENUE OR DATA, INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES, OR DAMAGES OR COSTS DUE TO LOSS OF PRODUCTION OR USE, BUSINESS INTERRUPTION, OR PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES ARISING OUT OF OR IN CONNECTION WITH THE SERVICES, WHETHER OR NOT IW HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND REGARDLESS OF THE THEORY OF LIABILITY ASSERTED, WHICH HAVE RESULTED FROM: (I) YOUR USE OF, OR CONDUCT IN CONNECTION WITH, OUR SERVICES; (II) ANY UNAUTHORIZED USE OF YOUR WALLET ADDRESS AND/OR PRIVATE KEY DUE TO YOUR FAILURE TO MAINTAIN THE CONFIDENTIALITY OF YOUR WALLET; (III) ANY INTERRUPTION OR CESSATION OF TRANSMISSION TO OR FROM THE SERVICES; OR (IV) ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE THAT ARE FOUND IN THE IW SOFTWARE OR THAT MAY BE TRANSMITTED TO OR THROUGH OUR SERVICES BY ANY THIRD PARTY (REGARDLESS OF THE SOURCE OF ORIGINATION).

16. Force Majeure

16.1. The Company will not be liable for any delay or failure to perform resulting from causes outside its reasonable control, including, but not limited to, acts of God, war, terrorism, riots, epidemics, embargoes, acts of civil or military authorities, fire, floods, accidents, strikes or shortages of transportation facilities, fuel, energy, labour or materials.

17. Indemnity

17.1. You agree to defend, indemnify and hold harmless the Company and its affiliates, and any of their respective employees, officers, directors, agents, joint ventures, and consultants, and of any registered user, from any claims, demands, liabilities, damages, or costs (including attorneys’ fees, fines, or penalties) suffered by any of them that may arise in connection with:

• Any breach by you of the Terms;
• Your use of the Company Services or use by a third party using your user identification and/or account, whether or not with your authorization;
• Any violation by you of any law, rule, regulation, and/or directive; and/or
• The rights of any third party.

18. Non-Waiver

18.1. No action or inaction on the part of the Company shall be considered a waiver of any right or obligation by the Company.

19. Assignment

19.1. The Company may assign its rights without restriction, without prior notice to you. In the event of a merger or acquisition between the Company and a third party, the Company reserves the right to transfer or assign the information you provided to the Company as part of such merger, acquisition, sale, or other change of control.

20. Severability

20.1. If any provision of the Terms shall be declared by any court of competent jurisdiction to be illegal, void, or unenforceable, all other provisions of these Terms shall not be affected and shall remain in full force and effect. In such cases, the part deemed invalid or unenforceable shall be construed in a manner consistent with applicable law to reflect, as closely as possible, the original intent of the parties.

21. English Language

21.1. Any translation of the Terms, if provided, is provided for your convenience alone. 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.

22. Governing Law

22.1. The Terms and the relationship between the parties shall be governed by, and interpreted in accordance with, the laws of Liechtenstein under exclusion of the law of collision as well as the CISG and you irrevocably submit, for the benefit of the Company, to the exclusive jurisdiction of the courts of Liechtenstein to settle any disputes (including claims for set off and counterclaims) which may arise in connection with the creation, validity, effect, interpretation or performance of, or the legal relationships established by, the Terms or otherwise arising in connection with the Terms, subject to any mandatory statutory provisions to the contrary.

23. Dispute Resolution

23.1. Any dispute arising out of or relating to these Terms shall be resolved on an individual basis, and not as a class, consolidated, or representative action. You waive any right to participate in a class action lawsuit or seek relief on a class-wide or representative basis.

24. Discontinuance of Services

24.1. We may, in our sole discretion and without cost to you, with or without prior notice, and at any time, modify or discontinue, temporarily or permanently, any portion of our Services. You are responsible for storing your backup phrase outside of the App. Saving your backup phrase and private keys pairs associated with your IW wallet will allow you to access the blockchain and your funds at any place and time. The Company shall not be held responsible or liable for any loss of Digital Assets in the event that we discontinue or deprecate the Services.

25. No Third-Party Beneficiaries

25.1. You agree that, except as otherwise expressly provided in these Terms, there shall be no third-party beneficiaries to the Terms.

26. Notices, Questions, Complaints, Claims

26.1. If you have any questions, complaints or claims with respect to the App or the Services, please contact us at info@ironwallet.io. We will do our best to address your concerns.

27. Entire Agreement

27.1. These Terms constitutes the final, exclusive, and complete understanding and agreement between you and us and supersedes all prior understandings and agreements between you and us.