PRIVACY POLICY & TERMS AND CONDITIONS
PRIVACY POLICY
Last updated on April 11, 2021
Preamble
This Privacy Policies describe the types of personal data that KB International Trading Ltd (hereinafter, the “Company”, “US”, “We” or “Our”) collects through the website (hereinafter, the “Platform”), how we use user data, to whom we communicate them and the rights and options that we make available to the users of our Platform regarding the use we make of their personal data and the exercise of the rights of the owners of the data. We also describe the measures implemented to protect the security of personal data collected and how users can contact us to learn about our privacy practices.
The user of the Platform expressly, informed, voluntarily and unequivocally consents to the inclusion of the personal data provided to the Company in its databases, as well as to the processing of their personal data by automated and non-automated means for the purposes described in the following sections of this document and subject to the terms and conditions set forth herein.
By accessing, connecting or using the Platform in any other way, you confirm that you have read, understood and accepted these provisions regarding the Company’s privacy policies. In case you do not agree with these privacy policies, refrain from accessing the Platform and using it in any way.
DATA COLLECTED
Through the Platform we collect certain data, which can be inclusive of a personal nature. Personal information is information that can identify you, such as your name, address, bank account number, telephone number, your photograph, the photograph of your National Identity Document and email address. We collect your personal data when you provide that information directly to us, even when you register or when you interact with us through our Platform. You are responsible for the accuracy of the personal information you provide to the Company and will be responsible for the consequences of providing false or inaccurate information.
Among the types of personal data we may collect are the following:
– Contact information (such as name, current address, postal address, email address and telephone number);
– Photographs of face;
– Bank account data;
– Information that the user provides in relation to their questions or comments.
TREATMENT OF PERSONAL DATA
The data we collect can be used for the following purposes:
– Communicate with you;
– Send you promotional materials and other communications;
– Answer your questions;
– Customize preferences and visits to our Platform and offer content tailored to your interests and the way you navigate and interact with our Platform;
– Operate, evaluate and improve our products and services; and
– Comply with and enforce the applicable legal requirements, the corresponding industry standards, contractual obligations and our policies.
In the case that we are going to use your personal data differently from the one described above, we will communicate it in a timely manner.
Through our Platform, we can also use third-party analytical services. The web analysis service providers that manage these services use technologies such as cookies, network server logs and web beacons that help us analyze the use that users make of our Platform. The information collected by these means (including the IP address) may be brought to the attention of the providers of such analytical services as well as other third parties that will make use of the information collected to, among other purposes, evaluate the use of the Platform.
INFORMATION WE SHARE
The personal data of the users that we collect through the Platform may be disclosed to third parties only in accordance with what is described in these privacy policies. Personal data collected through the Platform may be communicated to our subsidiaries and associated entities for the purposes described above. We will also communicate such personal data to service providers that provide services on our behalf in accordance with our instructions and for the purposes detailed in these Privacy Policies. We do not authorize such service providers to disclose or disclose the personal data of users except for those uses that are strictly necessary for the provision of the services or to comply with legal obligations.
The Company understands the importance of maintaining the confidentiality of all data that could be collected. Consequently, the Company undertakes, in order to guarantee such confidentiality, to sign confidentiality agreements with each of the parties that carry out the processing of personal data. The Company and those involved in any phase of the processing of personal data are bound to professional secrecy regarding them.
Likewise, we may disclose your personal data (i) if we are obliged to do so by law or within the framework of a legal procedure, (ii) to the security forces and bodies or other public officials when they legitimately request it, (iii) when we consider that such disclosure is necessary or convenient to avoid physical damage or economic loss, (iv) in the context of an investigation of fraudulent or illegal activities, or that fraudulent or illegal activities are presumed or (v) in case of sale or transfer of the totality or a part of our company or our assets (including cases of restructuring, dissolution or liquidation).
INTERNATIONAL DATA TRANSFER
Your personal data collected through the Platform may be transferred for the purposes described above to entities located in other countries. These countries may not have the same data protection regulations as in the British Virgin Islands. In this regard, we inform you that we have implemented safeguards that guarantee an adequate level of protection of personal data when they are transferred to other jurisdictions. These safeguards include contractual clauses or commitments aimed at imposing compliance with the applicable and its complementary regulations. In any event, when using the services of the Platform you are aware of the international transfer of your personal data as indicated in this section.
THE RIGHTS OF THE USER
You may request access, update, modification, review and deletion of your personal data as well as the removal or blocking of your name from the database referred to in this Privacy Policy at the time you wish by contacting for this purpose. with us as indicated in the section entitled “Contact Information” of this document.
The right of access to the data may be exercised free of charge by the interested party to the extent that the corresponding information is requested at intervals not less than six months, unless a legitimate interest is accredited for this purpose, pursuant to the Law of the British Virgin Islands.
In the event of any request, you must provide documentation that allows your identification to prove identity and provide the Company with a means to contact you if necessary.
SECURITY OF YOUR PERSONAL DATA
We implement administrative, technical and physical security measures designed to protect your personal data against destruction, loss, alteration, access, communication or accidental, illegal or unauthorized use.
Thus, to prevent unauthorized access, maintain the accuracy of the data and ensure the correct use of the personal data that it provides to us, the Company has put into use certain physical, electronic, administrative and security procedures. We safeguard personal data according to established security standards and procedures and continuously evaluate new technology to protect that information.
However, you acknowledge that the existing technical means that provide security are not impregnable and that even when all reasonable security precautions are adopted it is possible to suffer manipulation, destruction and / or loss of information. Finally, if you believe that your interaction with us is no longer secure (for example, if you believe that the security of an account you have with us has been put at risk), notify us immediately of the problem using the communication channels in the section “Contact us”.
LINKS TO OTHER WEBSITES
Our Platform may contain links to other websites for convenience and user information. These websites may be operated by companies that are not linked to us. Usually, linked websites have their own privacy policies or notices, which we recommend that the user read carefully if they visit any such linked websites. We do not assume any responsibility for the content of websites other than ours, nor for the use made of such websites, nor for their privacy practices.
UPDATES TO THIS PRIVACY POLICY
These privacy policies may be subject to periodic updating and without prior notice to reflect the changes introduced in our personal data practices. In the case of substantial changes, we will notify you by a visible notice on our Platform or by sending an email to the address declared at the time of creating your user account, indicating at the bottom of the privacy policies the date of Your last update. Any modification of these privacy policies will take effect from the moment of its publication on the Platform. Your interaction with us after the introduction of these modifications will mean that you have accepted those modifications.
CONTACT INFORMATION
Users can contact us to update their data or exercise their rights in accordance with these privacy policies by sending an email to support@kbtrading.org
TERMS AND CONDITIONS
Last updated on July 4, 2021
Preamble
These Terms and Conditions constitute a contract/agreement between you (“User”, “Users”, “You” or “Your”) and the service provider, KB International Trading Ltd, a company duly registered under the laws of the British Virgin Islands, (the “Company”, “KB International Trading Ltd”, “Us”, “Our” or “We”). This agreement governs your usage of our website and/or mobile App that we have made available to Users (the “Platform”). By using any services, features or functions made available from time to time through our Platform, including requests for issuance/purchase/repurchase of KB Tokens, (the “Services”), you agree that you have read, understood and accepted these Terms and Conditions, as well as our Privacy Policy. As this is a legally binding contract, please read carefully through these Terms and Conditions and the related notices before using any of our Services. By registering, accessing or using the Services through the Platform, you have agreed to to be bound by the Terms and Conditions as stipulated herein. Should you disagree with any provision of these Terms and Conditions and or you are a prohibited person as defined in these Terms and Conditions, please refrain from accessing the Platform and/or using the Services, proceed to leave the Platform and stop all usage of the Platform and any of the Services immediately.
CHANGES TO THESE TERMS AND CONDITIONS
We reserve the right to modify or change these Terms and Conditions at any time and at our sole discretion. If you do not agree to the updated Terms of Service, you must stop using the Services. The Company will provide appropriate notice of the updated terms – if you do not agree to the updated terms, the Company will provide you with the opportunity to terminate your account and relationship with the Company.
Any and all modifications or changes to the Terms and Conditions will be effective immediately upon being announced on the Platform or released to users. As such, it is your responsibility to acquaint yourself with the updated Terms and Conditions. Your continued use of the Services acts as acceptance of the amended Terms and Conditions.
ELIGIBILITY PROHIBITIONS
By accessing the Platform and/or using the Services, you affirm that you are an individual of at least 18 years old, of sound mind and with full legal capacity to enter into this contract between you and the Company, and you further warrant and guarantee that you are not prevented from using the services by any applicable law.
You can only access the Platform and use the Services on your own behalf and in your own name. Accessing the Platform or using the Services on behalf of third parties, as an agent or a proxy is forbidden.
If you are registering to use the Services as a legal entity, you warrant that such legal entity is duly incorporated/established and in good standing under the applicable laws of the jurisdiction of its incorporation and that you are its duly authorized legal representative to access the Services.
BY ACCESSING AND USING THE PLATFORM AND THE SERVICES, YOU ACKNOWLEDGE, DECLARE AND GUARANTEE THAT YOU ARE NOT: (I) ON ANY NATIONAL OR INTERNATIONAL TRADE OR ECONOMIC SANCTIONS LISTS, SUCH AS THE UNITED NATIONS SECURITY COUNCIL SANCTIONS LIST AND/OR ITS EQUIVALENTS; (II) ARE NOT A NATIONAL, RESIDENT, OR CITIZEN OF ANY COUNTRY OR TERRITORY LISTED IN NATIONAL OR INTERNATIONAL TRADE OR ECONOMIC SANCTIONS LISTS; AND/OR (III) A PERSON LINKED TO THE UNITED STATES OF AMERICA. (IIII) a resident of the Canadian Province of Ontario.
For purposes of the foregoing paragraph, a person linked to the United States of America shall be understood as: (a) a citizen of the United States of America, (b) a resident of the United States of America, meaning (i) “Green card” titular, or (ii) Someone who is physically present in the United States for 31 days in the current calendar year, and 183 days in three (3) years’ period including the current year, and two (2) years immediately before this, counting: (I) all the days present in the United States in the current year, (II) 1/3 of the days present in the United States, in the first year before the current year, and (III) 1/6 of the days present in the United States, in the second year before the current year; a (iii) a person who could be considered a resident for tax purposes in the United States; or (iv) a person with a United States mailing address or a United States telephone number; (c) a society, partnership or an organized corporate entity or existing, according any State territory or possession of the United States’ laws; (d) an estate or trust which any executor, administrator or trustee is a US person; (e) an agency or a foreign entity’s branch located in the united states; (f) a discretionary or non-discretionary account provided for a fiduciary for the benefit or a United States person’s account; (g) an association, partnership, corporation or entity that does not belong to the United States but is owned or controlled by a United States person; or (h) a company, corporation or entity with a United States postal address, or a United States telephone number.
You further represent and warrant that you will not be using the Services for any illegal activity, including without limitation illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, other violent activities or any prohibited market practices..
Notwithstanding the foregoing, the Platform and the Services are only available to citizens and/or residents of selected countries (the said countries will be announced on the Platform). The Company reserves the right to select new markets and jurisdictions to operate at its sole criteria and without need of prior notice of such decision.We may determine not to make the Services, in whole or in part, available in every market, either in our sole discretion or due to legal or regulatory requirements, depending on the User’s location.
APPLICABLE LAWS AND REGULATIONS
Your access of the Platform and usage of the Services is subject to the laws, regulations and rules of any applicable governmental or regulatory authority, including, without limitation, all applicable tax, anti-money laundering (“AML”) and counter-terrorist financing (“CTF”) provisions.
If your country of residence is located within the European Economic Area (“EEA”) and the General Data Protection Regulation (EU) 2016/679 (“GDPR”) applies to our processing of your personal data (within the meaning of GDPR), your representative within the EEA for the purposes of the General Data Protection Regulation (EU) 2016/679 (“GDPR”) is KB If your Country of Residence is outside of the EEA, provisions related to the GDPR shall not apply to your use of the Services.
You unequivocally agree and understand that by opening an account and using the Services, you shall act in compliance with and be legally bound by this Agreement and all applicable laws and regulations, and failure to do so may result in the suspension of your usage of the Services and/or closure of your Account. For the avoidance of doubt, continued use of your Account and the receipt of all trade benefits, is conditioned on your continued compliance at all times with this Agreement and all applicable laws and regulations.
REGISTRATION PROCESS AND IDENTITY VERIFICATION
You must register an account at the Platform to access and use the Services. When registering your Account, you must provide current, complete, and accurate information for all required elements on the registration page. You are the only person authorized to use your Account and you may not share your Account credentials with any other person. You also agree to provide us, when registering an Account and on an ongoing basis, with any additional information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including without limitation a copy of your government issued photo ID or evidence of residency such as a lease or utility bill (as part of Know Your Client process). You permit us to keep a record of such information and authorize us to make the inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you, our other users, and/or us against fraud or other financial crime, and to take action we deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.
In certain circumstances, we may require you to submit additional information about yourself or your business, provide records, and complete other verification steps.
You represent and warrant that any and all information provided to us pursuant to this Agreement or otherwise is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible.
From time to time we may be required to request further information regarding your transactions in order to comply with applicable law and regulation and our own policies. Failure to provide such information in a timely fashion may result in the suspension of your ability to use the Services (until you provide such information) or the closure of your Account.
WE DO NOT GUARANTEE THAT ANY PERSON WHO COMPLETES THE REGISTRATION PROCESS WILL BE ADMITTED AS A USER AND WE UNDERTAKE NO LIABILITY IN CASE THE APPLICATION TO BECOME A USER IS REJECTED.
COMPLIANCE WITH AML, CTF AND LOCAL LAWS
Our Services are subject to the laws, regulations, and rules of any applicable governmental or regulatory authority, including, without limitation to, all applicable tax, anti-money laundering (“AML”) and counter-terrorist financing (“CTF”). You are also responsible for compliance with the local laws in relation to the usage of the Services in your jurisdiction. We take compliance seriously and it is our policy to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing or any other financial crimes.
PLATFORM ACCESS AND USER’S RESPONSIBILITY
We provide the Services exclusively through the Platform, which the User shall access through the use of electronic devices. Only Users who have registered an account and have passed identity verification, including Know Your Client processes, are able to access the Platform and use the Services.
As a User, you are responsible for all the activities carried out in the Platform through the access to your account and the use of the Services and agree to hold the Company harmless and fully indemnified for any damages, losses and/or claims arising from such usage.
ABOUT KB TOKENS
We transfer and repurchase “CLPX” or "BTCLN" or other tokens (together and hereinafter “KB Tokens”); are digital tokens that operate on the Stellar blockchain protocol.
KB International Trading Tokens are fully backed by the fiat currency that each of them refers to, as the Company holds in its accounts in financial institutions and regulated payment processors (“Segregated Accounts”) the equivalent amount of fiat currency to the total KB International Trading Tokens issued and still in circulation. KB Tokens are pegged in a one to one relation with the fiat currency that they refer to. For example: for each CLPX issued in circulation, the Company will hold one (1) Chilean Peso in its Segregated Accounts.
KB Tokens are not fiat currency, money, or monetary instruments.
KB Tokens are issued or repurchased by the Company only in consideration for the fiat currency that they refer to.
KB Tokens are not securities or financial instruments. The Company will not pay any interest or other income derived from the KB Tokens to the Users nor to anyone who has a right over the KB Tokens. We may collect and retain for its own account interest on the fiat currency deposits held in the Segregated Accounts.
ISSUANCE OF KB TOKENS
The Services allow you to request from the Us the issuance and purchase of KB Tokens through the Platform. You must provide, through the Platform or by a third party that links you to the Platform, the identification data of your wallet to which the issued KB Tokens will be transferred. You must be the owner, user, and the one with exclusive access to the wallet to which the KB Tokens are transferred. You guarantee and warrant that the identification of the wallet provided to the Company is true, accurate and complete and that it corresponds to a compatible wallet for the receipt of the purchased KB Tokens.
We are not responsible for any incorrect identification information provided by you or third parties. You acknowledge that the Company does not have any type of control, obligation or liability with respect to the custody of your wallet, private or access codes, or any issues and/or information relating to your wallet.
You further acknowledge that transfers of KB Tokens to your wallet are irreversible by the Company.
You acknowledge that there may be delays between the time in which a issuance and purchase request is placed through the Platform and the transfer of the KB is performed, due to, among other contingencies, processing issues related to the blockchain protocol. To this end, we make no representations or warranties regarding the length of time that may be required to complete the transfer. We will not be liable for such delays and/or any damage you may suffer as a consequence thereof.
ACCEPTANCE OF ISSUANCE AND PURCHASE REQUESTS
Placement of issuance and purchase requests by Users through the Platform will not be considered perfected nor will it generate any type of responsibility or obligation in on the part of the Company until the Company accepts them and the total amount of fiat currency necessary to comply with them has been received by the Company and is fully available. Our acceptance of KB Tokens issuance and purchase requests will only be demonstrated by our execution of the same. To this end, We reserve the right to reject any issuance and/or purchase requests at our sole discretion.
METHODS OF PAYMENT
You can pay for the issuance or purchase of KB Tokens through the specific methods and third party payment processors enabled on the Platform. These are the only valid payment channels that we have authorized. The Company will not accept deposits or transfers of any amount of fiat currency by any other method other than those specified on and enabled on the Platform.
You should be aware that provision of funds through a third party payment system may not be credited immediately. The Company will not be liable to you for any loss suffered as a result of any delay caused by such third party payment systems.
REPURCHASE OF KB TOKENS
The Services allow you to request from Us the repurchase of KB Tokens through the Platform. As discussed further below, such a repurchase request may be accepted or rejected by Us in our sole discretion, with no obligation on tour part to provide to you reasons for the rejection.
ACCEPTANCE OF REPURCHASE REQUESTS
The repurchase requests that you place through the Platform will not be considered perfected nor will they generate any type of responsibility or obligation on our part until we have accepted them, by execution consisting of transfer of the fiat currency to you, and we have received the total quantity of KB Tokens necessary to comply with such requests. We reserve the right to reject any repurchase request at our sole discretion.
We will provide you with identification data of a wallet to which you must transfer the KB Tokens that they wish the Company to repurchase, after placing your repurchase request through the Platform.
You acknowledge that there may be delays between the time at which a repurchase request is placed at the Platform and the time at which the repurchase of the KB Tokens is processed, due to, among other contingencies, processing issues related to the blockchain protocol. The Company will not be liable for such delays and/or any damage you may suffer as a consequence thereof.
PAYMENTS TO USERS FOR REPURCHASE
The specific methods and third party payment processors enabled on the Platform are the only valid means of payment that the Company will use to transfer fiat currency to you as payment for repurchase of KBment Tokens.
You shall provide to us with, through the Platform, the information of your bank account or the equivalent account in one of the authorized payment processors. Such accounts must be owned, accessed and used exclusively by you.
You should be aware that transfer of funds through a third party payment processor may not be credited immediately. We will not be liable to you should you suffer any loss as a consequence of such delay.
KB Tokens will be repurchased only for the same amount and type of fiat currency that they refer to. For example: one CLPX will be repurchased for one (1) Chilean PESO. KB Tokens will not be repurchased for any fiat currency different than the one they refer to.
REFUSAL OF REPURCHASE REQUESTS
We reserve the right to refuse to repurchase KN Invest Tokens at our sole discretion; if we suspect that you have committed, without limitation, any of the following acts of financial crimes: any act, conduct, transaction, omission, misrepresentation, violation or attempted violation, causing, aiding or abetting the violation of any applicable laws, statutes, ordinances, or regulations; your finances are suspected or believed to be blocked property, frozen assets or the proceeds of any crime, terrorist financing, or corruption related to any person or government official under any applicable laws; or exposes the Company to sanctions, restrictions or penalties.
NO FEES CHARGEABLE UNLESS OTHERWISE STATED
Except as it may be disclosed on the Platform, the Company will not charge you any fees for the Services. Notwithstanding the generally of the foregoing, you are responsible for the payment of any fees or costs associated with the provision of funds to or from the Company that may be charged by the banks, financial institutions or payment processors involved.
MAXIMUM/MINIMUM ALLOWABLE TOKENS
We may, at our sole discretion or in compliance with regulatory provisions, establish certain minimum and/or maximum amounts of KB Tokens that can be issued or repurchased per request or for any certain period of time. We shall notify you of these limits through the Platform.
STELLAR BLOCKCHAIN PROTOCOL
KB Tokens operates on the Stellar blockchain protocol. Therefore, the Company does not have any ability or obligation to prevent or mitigate attacks or resolve any other issues that might arise with the Stellar blockchain protocol. Any such attacks or delays on the Stellar blockchain might materially delay or prevent Users from using the Services, and the Company shall bear no responsibility for any losses that result from such issues.
We reserve the right to migrate KB Tokens to another blockchain or protocol in the future should the Company determine, in its sole discretion, that doing so is necessary or desirable. Upon the Company’s request, you agree to take any and all actions that We may deem necessary to effectuate the migration of your KB Tokens to another blockchain or protocol identified by the Us. If you fail to effectuate such migration, the KB Tokens may not be compatible with their account going forward. Consequently, We will not be liable for any damages, losses, costs, fines, penalties or expenses of whatever nature, whether or not reasonably foreseeable by the parties, which you may suffer, sustain or incur, arising out of or relating to your failure to effectuate such migration.
RISKS OF TRADING KB TOKENS ON THE STELLAR PLATFORM
The risks associated with the Services include, without limitation, the following:
No financial advice
The Company provides an software and IT services and does not advise on the merits of any particular transaction or its tax implications, and We do not provide any other financial, investment or legal advice in connection with the Services. Our recommendations are incidental to your relationship with us and such information should not be considered as investment and/or financial advice and should not be construed as such. Any decision to request for issuance, purchase of repurchase KB Tokens is your sole decision and we will not be liable for any loss suffered.
You accept the risk of trading in KB Tokens. In entering into any transaction on the stellar Platform, you represent that you have been, are, and will be solely responsible for making your own independent appraisal and investigations into the risks of the transaction. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any transaction involving KB Tokens..
Digital assets and transfers
Trading in KB Tokens (digital asset) can be extremely risky. Understanding Digital Assets requires advanced technical knowledge. Digital Assets are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer science in order to appreciate inherent risks. Listing of KB Tokens on the Platform does not indicate approval or disapproval of the underlying technology and should not be used as a substitute for your own understanding of the associated. We give you no warranty as to the suitability of the digital asset traded on the Platform and assume no fiduciary duty in our relations with you.
Software protocols and operational challenges
The software protocols underlying KB Tokens are typically open source projects, which means that (i) the development and control of such asset is outside our control (ii) such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of the asset.
You are aware of and accept the risk of operational challenges. KB may experience sophisticated cyber attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Services. You understand that the Services may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold Polo accountable for any related losses.
Compliance
You are responsible for complying with applicable law. You agree that We are not responsible for determining whether or which laws may apply to your transactions, including tax laws. You are solely responsible for reporting and paying any taxes arising from your use of the Services.
No deposit protection
KB Tokens held in your wallet are not subject to deposit insurance protection.
DISPUTE RESOLUTION: WAIVER OF CLASS ACTION
If you have a dispute with Us, you agree to contact Us to attempt to resolve any such dispute amicably. If we cannot resolve the dispute through our support team, you and we agree to use the Formal Complaint Process set forth below. You agree to use this process before filing any arbitration claim or small claims action. If you do not follow the procedures set out in this Section before filing an arbitration claim or suit in small claims court, we shall have the right to ask the arbitrator or small claims court to dismiss your filing unless and until you complete the following steps.
We will acknowledge receipt of your Complaint form after you submit it. Our designated customer relations agent will review your Complaint. The agent will evaluate your Complaint based on the information you have provided and information in our possession. Within 15 business days of our receipt of your Complaint form, the agent will address the issues raised in your Complaint form by sending you an e-mail in which the agent will: (i) offer to resolve your complaint in the way you requested; (ii) make a determination rejecting your Complaint and set out the reasons for the rejection; or (iii) offer to resolve your Complaint with an alternative solution. In exceptional circumstances, if the agent is unable to respond to your Complaint within 15 business days for reasons beyond our control, the agent will send you a communication indicating the reasons for any delay in answering your Complaint, and specifying the deadline by which the agent will respond to your Complaint, which will be no later than 35 business days from our receipt of your Complaint form.
If we cannot resolve the dispute through the Formal Complaint Process, you and we agree that any dispute arising out of or relating to this Agreement or the Services, including, without limitation, federal and state statutory claims, common law claims, and those based in contract, tort, fraud, misrepresentation, or any other legal theory, shall be resolved through binding arbitration, on an individual basis (the “Arbitration Agreement”). Subject to applicable jurisdictional requirements, you may elect to pursue your claim in your local small claims court rather than through arbitration so long as your matter remains in small claims court and proceeds only on an individual (non-class and non-representative) basis. Arbitration shall be conducted in accordance with the rules of the BVI International Arbitration Centre. The Seat of arbitration shall be the British Virgin Islands.
This Arbitration Agreement includes, without limitation, disputes arising out of or related to the interpretation or application of the Arbitration Agreement, including the enforceability, revocability, scope, or validity of the Arbitration Agreement or any portion of the Arbitration Agreement. All such matters shall be decided by an arbitrator and not by a court or judge.
CLASS ACTION WAIVER: TO THE EXTENT PERMISSIBLE BY LAW, ALL CLAIMS MUST BE BROUGHT IN A PARTY’S INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE ACTION, OR REPRESENTATIVE PROCEEDING (COLLECTIVELY “CLASS ACTION WAIVER”). THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON'S CLAIMS OR ENGAGE IN ANY CLASS ARBITRATION. YOU ACKNOWLEDGE THAT, BY AGREEING TO THESE TERMS, YOU AND US ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION.
The arbitration will be conducted by a single, neutral arbitrator and shall take place in the county or parish in which you reside, or another mutually agreeable location, in the English language. The arbitrator may award any relief that a court of competent jurisdiction could award and the arbitral decision may be enforced in any court. An arbitrator’s decision and judgment thereon will not have a precedential or collateral estoppel effect. 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. To the extent permitted by law, the prevailing party in any action or proceeding to enforce this Agreement, any arbitration pursuant to this Agreement, or any small claims action shall be entitled to costs and attorneys' fees. If the arbitrator or arbitration administrator would impose filing fees or other administrative costs on you, we will reimburse you, upon request, to the extent such fees or costs would exceed those that you would otherwise have to pay if you were proceeding instead in a court. We will also pay additional fees or costs if required to do so by the arbitration administrator's rules or applicable law.
COPYRIGHT OF FEEDBACK MATERIALS
You acknowledge and agree that any materials, including without limitation, questions, comments, feedback, suggestions, ideas, plans, notes, drawings, original or creative materials or other information or commentary you provide on the Platform regarding Us or the Services, are non-confidential and will become Our sole property. We will own exclusive rights, including all intellectual property rights, and will be entitled to the unrestricted use and dissemination of such information for any purpose, commercial or otherwise, without acknowledgment or compensation to you.
TAXES
You will be able to see a record of your transactions via your account which you may wish to use for the purposes of making any required tax filings or payments. It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority. We will make any tax withholdings or filings that we are required by law to make, but we are not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction.
LIMITATION OF LIABILITY: NO WARRANTY
YOU EXPRESSLY UNDERSTAND AND AGREE THAT KB International Trading LIMITED AND OUR AFFILIATES AND SERVICE PROVIDERS, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND REPRESENTATIVES WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, RESULTING FROM: (I) THE USE OR THE INABILITY TO USE THE SERVICES; (II) THE COST OF PROCUREMENT OF SUBSTITUTE SERVICES RESULTING FROM ANY DATA, INFORMATION, OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH THE PLATFORM; (III) UNAUTHORISED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; OR (IV) ANY OTHER MATTER RELATING TO THE SERVICES.
We will not be liable for exemplary damages or other indirect losses.
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU. IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE SERVICES OR WITH THIS AGREEMENT, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USE OF THE SERVICES AND CLOSE YOUR ACCOUNT. THE SERVICES ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS OR IMPLIED. KB International Trading LIMITED, OUR AFFILIATES, AND OUR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND SUPPLIERS SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. WE MAKE NO WARRANTY THAT (I) THE SERVICES WILL MEET YOUR REQUIREMENTS, (II) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (III) WILL BE AVAILABLE OR PERMISSIBLE IN ALL JURISDICTIONS, OR (IV) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU WILL MEET YOUR EXPECTATIONS.
We cannot guarantee that our Services will always meet your demands. As we grow we will likely add new services, change certain features and drop old features. We hope you are always happy with our Services, but we cannot contractually guarantee you will be.
Some jurisdictions 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 jurisdiction to jurisdiction.
FORCE MAJEURE
We shall have no liability for any failure or delay resulting from any abnormal or unforeseeable circumstances outside our reasonable control, the consequences of which would have been unavoidable despite all efforts to the contrary, including without limitation governmental action or acts of terrorism, earthquake, fire, flood, or other acts of God, labor conditions, pandemics and/or epidics, delays or failures caused by problems with another system or network, mechanical breakdown or data-processing failures or where we are bound by other legal obligations.
GOVERNING LAW VENUE
The laws of the British Virgin Islands shall govern these Terms and Conditions. Any claims or actions arising out of or relating to the Services agreed in this contract shall be governed and interpreted and enforced in accordance with the laws of the British Virgin Islands. Each party hereby agrees to submit to the personal and exclusive jurisdiction of the courts located in the British Virgin Islands.
LIMITED LICENSE AND IPRs
The Company grants you a limited, non-exclusive, non-sublicensable, and non-transferable license, subject to the terms and conditions herein, to access and use the Services solely for approved purposes as determined by Us. Any other use of the Services is expressly prohibited. We, together with our licensors, reserve all rights in the Services and you agree that this Agreement does not grant you any rights in or licenses to the Services except for the limited license set forth above. Except as expressly authorised by Us, you agree not to modify, reverse engineer, copy, frame, rent, lease, loan, sell, distribute, or create derivative works based on the Services, in whole or in part. If you violate any portion of this Agreement, your permission to access and use the Services may be terminated pursuant to this Agreement. All logos related to the Services are either trademarks, or registered marks of KB International Trading Limited, its affiliates and/ or licensors. You may not copy, imitate, or use them without our prior written consent. All right, title, and interest in and to the Platform, any content thereon, the Services,all technology and any content created or derived from any of the foregoing is the exclusive property of KB International Trading Ltd and its licensors.
We grant you access to use our products and services, but we still own the intellectual property associated with these products and services.
SEVERABILITY, ENTIRE AGREEMENT AND THIRD PARTY RIGHTS
If any provision of this Agreement shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid the other provisions of these Terms and Conditions shall remain in full force and effect and remain enforceable between the parties; as if the impugned provision or provisions were not part of this Agreement.
These Terms and Conditions, including the Privacy Policy, constitute the entire agreement between you and KB International Trading Ltd with respect to the use of the Services.
This Agreement is not intended and shall not be construed to create any rights or remedies in any parties other than you and KB International Trading Ltd and our affiliates which each shall be a third party beneficiary of this Agreement, and no other person shall assert any rights as a third party beneficiary hereunder.
CONTACT INFORMATION
You can contact us by sending an email to support@kbtrading.org for inquiries, feedback and/or complaints. KB International Trading Limited, C/O Aleman, Cordero, Galindo & Lee Trust Ltd, P.O. Box 3171, Road Town, Tortola, VIRGIN ISLANDS (BRITISH)
