Trader Terms

Last Modified: June 05, 2018


These Trader Terms and Conditions (“Trader Terms”) govern your use on plus their associated sites (the “ThreeBx Sites” or the “Sites”).

You may be referred to as “Trader or customer”.

WHEREAS ThreeBx has undertaken to provide Online Services with respect to the trading of digital assets, and the customers wish to offer a convenient method of offering digital assets to one another, therefore, you agree as follows:

1. Definitions

Unless the context otherwise requires, in this Agreement:

  1. “ACCOUNT” means the deposit account maintained by the Trader at ThreeBx.
  2. “AUTHORIZATION SERVICES” means the approvals provided to the Trader to initiate transactions.
  3. “TRANSACTION” means any transaction by the Trader, initiated by the use of the trading of any digital asset or utilizing any of the services provided by ThreeBx.
  4. “TRANSACTION FEE” means the amount of the fee charged to the Trader for each Transaction based on a dollar amount and which may be notified in writing by ThreeBx to the Trader from time to time.
  5. “TRANSACTION RECEIPT” means the form of record authorized by ThreeBx as evidence that the Trader has performed a Transaction.
  6. “TRADER” means the Undersigned buyer and/or seller of digital assets by trading digital asset to digital asset using ThreeBx services.

2. Payment

After receipt by ThreeBx of one or more Transactions by the Trader shall result in a Transaction Receipt. All trades will be credited to the Trader’s Wallet.

  1. All trades will be credited or debited from the Trader’s Wallet.
    1. All deposit and credit summaries and each amount referred to above are subject to final audit and correction by ThreeBx whose determination shall be conclusive and, in the case of inaccuracies, the Trader authorizes ThreeBx to:
      1. Refund any surplus due to a Trader by depositing the relative amount to the Trader’s Account.
      2. Charge the Trader’s Account with any deficiency or deduct from any amounts due to the Trader by ThreeBx any deficiency, and without prejudice to any other rights of ThreeBx, where the Trader has one or more ThreeBx accounts with ThreeBx, ThreeBx may debit such account(s) with any digital asset(s) due to ThreeBx under this agreement. The Trader also authorizes ThreeBx to deduct from the Trader digital assets due to another Trader, any outstanding fees due to ThreeBx, or to take such legal proceedings as may be necessary against the Trader to recover any deficiency due to the Trader.

3. Transactions

  • All Trades are final. Once you confirm your Transaction it is irreversible. However, ThreeBx reserves the right to withdraw digital assets or reverse a trade if the following occurs:
    • The transaction issued is illegal or invalid.
    • The Trader has failed to comply with the terms of this agreement.
    • The Trader has failed to respond to ThreeBx’s inquiry in respect to the Transaction in accordance with these Trader Terms. ThreeBx will timely provide the Trader with details of any Transactions, the amount of which it has refused to credit the Account or has deducted to such Account. If the Trader does not dispute such refusal or withdrawal in writing to ThreeBx within fifteen (15) days after the date such was first given or withdrawal was first made, it shall be deemed to have irrevocably waived its rights to dispute or otherwise contest such refusal or withdrawal.
    • Where the Transaction is contrary to the law in a certain jurisdiction.
    • Where the circumstances surrounding the Transaction constitute a breach of any of the terms or conditions of this agreement.

4. Fees

The Trader agrees to pay ThreeBx:

  1. A Transaction Fee for each transaction processed by the Trader shall be paid to ThreeBx.
  2. Fees can be changed without notice to Trader but will always be posted on the site.

Fees can be found here.

5. Trader remedy

ThreeBx shall have the right to verify all Transactions and to audit the Trader’s books, accounts, records and other papers relative to Transactions rendered to ThreeBx.

6.Terms ∓ Conditions

The Trader shall observe and comply with all and any Terms and Conditions applicable to any Transaction or use of the site as may be in effect at the date of this Agreement or as may be amended from time to time hereafter and which said Terms of Use are incorporated into this Agreement by reference.

7. Term

This Agreement is effective when the Trader signs up for an account and shall remain in full force and effect unless and until terminated by either party by ThreeBx when terminating the account of Trader and by Trader when Trader voluntarily closes their account. All obligations of both parties in respect to any Transaction entered into on or prior to the effective date of such termination shall survive such termination and shall remain in full force and effect.

8. Indemnity

The Trader will indemnify ThreeBx against and hold it harmless from all claims of whatever nature by any cardholder and howsoever arising out of any Transaction evidenced by a Sales or Transaction Receipt including but not limited to:

  • Any and all claims made by the Trader arising thereon imposed by way of defense, dispute, set-offs or counter claims;
  • Any and all claims arising from a breach of any applicable law in force for the time being;

9. Other Terms

  • ThreeBx may, from time to time, issue directions in writing regarding the procedure to be followed and prescribe forms to be used by the Trader in carrying out this Agreement and such directions and the terms of such forms shall be binding upon the Trader upon receipt
  • The Trader shall not refuse, without good reason, to accept a Transaction where a buyer offers to pay for the purchase of digital assets in accordance with the terms of this Agreement.

10. Force Majeure

ThreeBx shall not be liable to the Trader in any way if ThreeBx is unable to perform its obligations, whether due directly or indirectly to the failure of any machine, data processing or transmission link or to industrial dispute or to any cause outside the control of ThreeBx, it’s agents, servants or sub-contractors.

11. Non-Disclosure

The Trader shall not sell, purchase, provide or exchange to any third-party other than ThreeBx information whatsoever about, or obtain as a result of this agreement including but not limited to Transaction Receipts, mailing lists, tapes or other media obtained as a consequence of a Transaction.

12. Notices

A notice to the ThreeBx shall be delivered to its registered office and any notice to the Trader shall be sent via email registered on their account or to the address given to ThreeBx or to any other address subsequently notified to ThreeBx in writing. A notice to the Trader may be sent by pre-paid post to such address and in such event shall be deemed to have been delivered forty-eight (48) hours after the date of posting.

13. Variations

ThreeBx shall be entitled to vary any terms of this Agreement except fees, upon at least twenty-four (24) hours notice to the Trader and forwarding a copy of the proposed variation to the Trader in the absence of an objection from the Trader within twenty-four (24) hours of notification, the said variation should form part of this Agreement and be binding on both parties.

14. Waiver

No waiver on the part of ThreeBx with respect to any provision contained in this agreement shall operate as a waiver of any other provision or of the same provision on any future occasion. No delay by ThreeBx in enforcing its rights under this Agreement shall constitute a waiver of any right vested in ThreeBx.

15. Settlement of Disputes

The following guidelines shall govern the settlement of any dispute arising under or by virtue of this agreement:

  • The Trader shall not refuse, without good reason, to accept a Transaction where a buyer offers to pay for the purchase of digital assets in accordance with the terms of this Agreement.
  • The Trader shall not refuse, without good reason, to accept a Transaction where a buyer offers to pay for the purchase of digital assets in accordance with the terms of this Agreement.

16. Remaining funds after Account Termination

Once the account is closed/withdrawn, all remaining balances (which includes charges and liabilities owed to ThreeBx) on the account will be payable at once to ThreeBx. Upon payment of all outstanding charges to ThreeBx (if any), the user will have 5 working days to withdraw all funds from the account.

17. Remaining funds after Account Termination (Fraud/AML/Violation of Terms)

ThreeBx maintains full custody of the funds and user data/information which may be turned over to the authorities in event of account suspension/closure arising from fraud investigations, AML investigations or violation of ThreeBx’s Terms (eg. trading on ThreeBx from a sanctioned country).

18. Forks

You agree and understand that the underlying protocols of Supported Networks are subject to changes in operating rules (each a “Fork”) that may result in more than one version (each, a “Forked Network”) and us holding an identical amount of Digital Assets associated with each Forked Network. You further agree and understand that said Forks may materially affect the value, function, and/or name of the Digital Assets you hold on ThreeBx.

In the event of a Fork, you agree and understand that we may temporarily suspend the operations of ThreeBx (with or without advance notice to you) while we choose, in our sole discretion, except as described herein, which Forked Networks to support. You agree and understand that in our best estimation we are unlikely to support most Forked Networks and that the Digital Assets of most Forked Networks will likely not be made available to you.

19. Unsupported Forked Networks

You agree and understand that we may choose, in our sole discretion, except as described herein, not to support a Forked Network (each, an “Unsupported Forked Network”) and that you have no right, claim, or other privilege to any Digital Assets of an Unsupported Forked Network. With respect to an Unsupported Forked Network, we will treat its Digital Assets as Unsupported Digital Assets and we may, in our sole discretion, elect to:

  1. Abandon or otherwise not pursue obtaining its Digital Assets;
  2. Pursue and retain its Digital Assets as property belonging solely to us; or
  3. Determine your balance at the time of the Fork, account for it as your property, and make it available to you via a one-time withdrawal mechanism

(“One-Time Withdrawal”) (subject to the withholding and retention by us of any amount reasonably necessary, as determined in our sole discretion, to fairly compensate us for the efforts expended to make such Digital Assets available). Please Note: A One-Time Withdrawal does not make an Unsupported Forked Network a Supported Network or its Digital Assets Supported Digital Assets.

You agree and understand that we will only give Written Notice if we elect to pursue option (3), in which case we will do so within three months of a Fork.

You agree and understand that If you wish to access Digital Assets related to an Unsupported Forked Network or an Airdrop (as defined herein), you must withdraw your Digital Assets from ThreeBx prior to any Fork or Airdrop.

Please note: If we decide to support an Unsupported Forked Network and its Digital Assets in the future, we will determine your balance at the time of the Fork (minus any applicable One-Time Withdrawals) and account for it as your property, which will be reflected in your Digital Asset Account.

20. Governing Law

The laws of United Kingdom shall govern this agreement.