Terms of Exchange

Last updated: 17 March 2021

NOTE: Exchange operations with cryptocurrencies involve a high degree of risk. Values of cryptocurrencies are subject to fluctuation and there is a significant time lag between placement of your exchange Order and delivery of cryptocurrency to your account.

By submitting the Order, you will be deemed to have accepted these Terms of Exchange Operations and Grapherex’s general Terms of Use.

If you do not yet have a Grapherex Account, then a Grapherex Account will be opened for you at the time of your submission of the Order using the details that you will have submitted and you will be treated as a Client of Grapherex from such time. You may be required to undergo applicable KYC procedures before your Order can be processed.

GLOSSARY OF TERMS

Grapherex – Grapherex AS, a public limited company organized under the laws of Estonia, reg.no 14769678, with offices at Grapherex Crypto Solutions OÜ with registered address Tornimäe 7-72, Tallinn, Estonia 10145.
(«Grapherex»; «we»; «us»; «our») or any successor or assignee thereto.

Grapherex Account – the Client’s Token account or other coin account with Grapherex Business Day – any day on which banks are open for business in Tallinn, Estonia.

Client – a User of Grapherex, as such term is defined in Grapherex’s general Terms of Use.

Commission – the Exchange’s commission for the Exchange Operation.

Conversion Estimate – the estimated amount of Tokens that the Exchange may be able to purchase with the Invoice Amount (minus the Trade Commission), subject to any fluctuation in the purchase price of Tokens.

Grapherex ID – the Client’s Grapherex identification/client number.

Exchange – Grapherex or any successor or assignee thereto.

Exchange Operation – the exchange of the Client’s Euro funds into Tokens.

Hotline – the Exchange’s customer service hotline available via contacts.

Order – the Client’s order for the Exchange Operation submitted to the Exchange electronically and setting out the amount of Euro funds the Client instructs the Exchange to exchange into Tokens.

Tokens – USDT (Tether) tokens (tether.io).

Refund commission – commission charged in case of can refund.

Trade Commission – the Exchange’s commission for carrying out the Exchange Operation. For the current Trade Commissions, please refer to the Fee Schedule.

Trade Confirmation – a confirmation sent to Client by Exchange confirming the receipt of the Order Transaction rollback – commission charged for cancellation of inner transaction.

Last updated: 17 March 2021

LIMITS

Your monthly Orders may not exceed 150.00 Euro until such time as your Client account satisfies applicable KYC1 requirements.

After satisfaction of applicable KYC1 requirements the following limits apply1:

  • Maximum amount of one transaction: 3 000 EUR;
  • Maximum daily quantity of purchases per one bank card: 4;
  • Maximum daily amount of purchases per one bank card: 10 000 EUR;
  • Maximum monthly amount of purchases per one bank card: 15 000 EUR;

1In case the payment currency differs from the euro, the applicable limits are calculated in euro equivalent in accordance with the current exchange rate of the processing partner.

Last updated: 17 March 2021

OPERATION RULES

  1. To initiate the Exchange Operation, the Client must place the Order.
  2. After placing the Order, the Client will get a Trade Confirmation and will be invoiced by the Exchange for the full amount of the Order. The Invoice will be delivered to Client electronically via email provided by him/her and a copy of the Invoice will also be available for download through the Client’s Grapherex Account.
  3. The Trade Confirmation will contain the Conversion Estimate and will state the amount of the Trade Commission.
  4. The Invoice should be paid by Client by wire transfer in immediately available funds by close of the Business Day immediately following the date of the Invoice. For purposes of this paragraph, ‘payment’ means the irrevocable debit of the Client’s Euro account with the Client’s bank (credit institution) that maintains such account, for the full amount of the Invoice, on the basis of an irrevocable instruction by Client to such bank to transfer and pay the net amount stated in the Invoice (“Invoiced Amount”) to the Exchange.
  5. The Invoiced Amount should be paid to the Exchange in full. Payment of all commissions, transfer fees, duties and other expenses associated with payment of the Invoiced Amount are the Client’s expense and responsibility.
  6. After receipt of the Invoiced Amount, the Exchange will deduct its Trade Commission from the Invoiced Amount and will use the remaining funds to purchase and deliver the Tokens to Client’s Grapherex Account.

  7. The Client’s payment instruction must include a reference to Client’s Grapherex ID. Failure to include such reference may result in delays in (a) processing of the Order by the Exchange and
    (b) purchase and delivery of the Tokens by the Exchange to the Client and, accordingly, the Client may not receive the Tokens in time or at all, which may result in various losses to the Client.

    7.1. The Company has to identify you as a cardholder, an individual who is issued and authorized to use a card, in order to be compliant with applicable anti-fraud requirements. In order to prevent fraud and the misuse of funds, the Company needs to ensure that the card used for payment belongs to the Grapherex account holder. In the situation where the Company’s staff has a reason to make any additional checks, the staff member may request additional supporting materials from the account holder.

  8. If the amount in fact received by Exchange pursuant to the Invoice is less than the full Invoiced Amount («Insufficient Amount»), the Exchange will advise the Client accordingly and the Client may instruct the Exchange (through the Hotline) to amend the Order to be equal to such Insufficient Amount. Such amendment will not diminish the amount of the Trade Commission established in the Trade Confirmation.

    If no such instruction is received within 5 (five) Business Days from the date of receipt of such Insufficient Amount by the Exchange, the Exchange will initiate a remittal of the excess (minus all applicable bank commissions, charges and duties) by wire transfer to Client.

  9. If the amount in fact received by Exchange pursuant to the Invoice is higher than the full Invoiced Amount («Excessive Amount»), the Exchange will advise the Client accordingly and the Client may instruct the Exchange (through the Hotline) to issue an additional Invoice for the excess. In such case, a separate Trade Commission will apply to such additional Invoice.

    If no such instruction is received within 5 (five) Business Days from the date of receipt of such Excessive Amount by the Exchange, the Exchange will initiate a remittal of the excess (minus all applicable bank commissions, charges and duties) by wire transfer to Client.

  10. The Conversion Estimate of the Trade communicated to Client after placement of the Order is indicative and, although we usually intend to fill the Order at the best available Token price, the actual amount of Tokens that may be delivered to Client pursuant to the Order may vary. This variance is due to a number of factors such as:

    a. The purchase of Tokens by Exchange pursuant to the Order only takes place after the Exchange receives the Invoice payment in full.

    b. Accordingly, the purchase price (market value) of the Token may go up or down between the time Client makes the Invoice payment, the time the Exchange receives the Invoice payment and the time the Exchange purchases and delivers the Tokens to the Client.

    c. There may be market disruptions, regulatory changes or other adverse effects on the Tokens and the market for the Tokens which may affect their availability, recording, circulation, value, or deliverability to Client.

  11. Please be note that in case of chargeback we do not return to the Client any sum paid by you as commission for making the transaction.

    BASIC FEE SCHEDULE FOR PURCHASE VIA BANK CARD

    Order Value up to and including Trade Commission

    EUR 1 000.00 8.00%

    EUR 10 000.00 7.50%

    EUR 100 000.00 7.00%

    EUR 1 000 000.00 6.50%

    Grapherex reserves the right to apply lower Trade Commission at its own consent without additional notice.

  12. Coins which are not convinced to use in Grapherex mobile app but are able for transferring in blockchain to valid e-wallet in Grapherex mobile app are lost. The Company cannot transfer them back to the Clients.
  13. Client is informed and taking into account that he or she will be charged in the amount of 10 Euro for every mistaken transaction made by him or her in Grapherex mobile application unless the bigger amount is not contemplated by other paragraphs of this Terms or any other agreements you are bound with the Company.
  14. The Company does not guarantee a refund in case of wrong mentioning XRP’ tag which causes to depositing of coins into Grapherex’s user account as well as to transferring of coins to e-wallet which is outside of Grapherex mobile application and whose holder is not the one who legally bound with the Company. If in any case the Company was successful to make such a refund the Client is charged with a commission in the amount of 35 Euro.
  15. The Company does not make refund if the transaction was successfully completed (i.e. exchange of digital assets was done, the Client closed the deal with the merchant (bought goods, received services and so on) and etc.), unless such transaction was made due to fraudulent actions of third persons and criminal activity of any kind.

  16. The funds are to be transferred to the address (including each component of it) mentioned in the application for digital asset which is managed especially in main network of specified blockchain. Grapherex is not obliged for loss of funds in case of non-obligation of the conditions mentioned above in this paragraph and also in the following cases:

    1) Mentioning of wrong tag for transfer of funds (including XRP);

    2) Transaction made to wrong address or to address in other blockchain;

    3) ERC-20 transaction made to smart-contract address;

    4) Other similar cases.

    Thus, such cases arise no refund contemplated.

  17. We also note you that the use of nonofficial client applications or algorithms for operation of services offered by the Company is strictly prohibited.

  18. The Company is entitled to recover a number of funds if for wealth accumulation you took advantage of technical mistakes and system failure, i.e.:

    1) Making exchange at wrong rates;

    2) Using of trial-and-error method;

    3) Using custom programs, third-party services with an aim to turn to account a technical vulnerability.