Terms and Conditions for the Purchase of BitDrive (BTD) Tokens
Last Version: April 2018.
These Terms and Conditions for the Purchase of BitDrive (BTD) Token (“Terms”) applies to each person who holds and/or purchases the BitDrive Token (“BTD”) and Users of the BitDrive Inc. platform, app and related software.
We recommend each future person to read these Terms carefully before considering buying BTD. These Terms affect the rights and obligations of each future Purchaser or User.
If you purchase or use BitDrive Tokens, now or in the future, you will be bound by these Terms and its future amendments available at www.BitDrive.tech/legal. Each Purchaser is responsible to consult our most recent Terms on our Website.
This includes important clauses, such as: waivers and limitations of liability. If you do not agree to our Terms and Conditions, please leave our Website and do not participate or obtain BitDrive Tokens.
1. Parties and Applicability Terms
1.1 These Terms constitute a legally binding contract between BitDrive Incorporated (“BitDrive”) a Belize Limited Liability Company with company registration number 170,128, and future Purchaser of BitDrive Tokens and future Users of the services offered on the BitDrive platform, app and related software.
1.2 By approving these Terms, you agree to be bound by the latest version published at BitDrive.tech/legal . Each Purchaser of BTD and User of the BitDrive platform and related software shall accept each future modification of these Terms.
2. BitDrive Services
2.1 BitDrive is a platform managed by BitDrive Inc where consumers can make use of ridesharing services, and drivers can earn salary, both by using BitDrive Tokens. Thus the access to and use of the BitDrive platform requires the use of the BTD Tokens as means of payment.
2.2 BitDrive Inc organizes an Initial Coin Offering in order to fund the development of the BitDrive platform, app and related software, and for that purpose cryptographic tokens will be offered to the public. Through the BitDrive Token Sale, Purchaser acquires the contractual right to use services offered on the BitDrive platform.
2.3 Once Purchaser obtained BTD, this purchase is final, non-refundable and cannot be reversed. BDT does not give any right to decide or vote in the Company of BitDrive.
2.4 BTD cannot be used nor has any value outside the BitDrive platform and related software.
2.5 BTD Token can be acquired directly from BitDrive Inc. during our Token Sale which takes place on BitDrive.tech. BitDrive Inc will have the sole discretion as to accepting or rejecting any purchase of BTD.
3.1 Future Purchasers and Users of BTD Tokens acknowledge and agree, that they understand fully the functionality of cryptographic tokens and the blockchain, so as to fully understand the risks connected in the participation of BitDrive’s token sale.
3.2 Purchaser shall obtain expert and independent advice regarding the BTD Token Sale, any interested future Purchaser or User who cannot understand the risks associated with the purchase of BTD, should refrain from acquiring BTD Tokens, now and in the future.
3.3 BitDrive Inc is never responsible for the loss of access to BTD Tokens due to User’s loss of the private key or login credentials.
3. Know-Your-Customer (KYC) Policy
4.1 BitDrive shall perform a procedure in order to confirm Purchaser’s identity to which he/she must participate.
4.2 Each future Purchaser acknowledges that his/her application to buy BTD Tokens, will be assessed by a third party KYC provider. As a consequence, the purchase cannot be finalized until he/she has passed the KYC procedure successfully.
4.3 When a person fails to pass the KYC procedure, the offer to acquire BTD will be unequivocally rejected and he/she will not receive the requested amount of BTD.
4.4 BitDrive can decide to transfer a certain amount of BTD to User’s wallet, and perform the KYC procedure at a later moment the latter will be subject to a voluntary KYC. The User will be asked to provide certain personal data. Participation in this process is voluntary and not mandatory.
5. Know-Your-Customer (KYC) Policy
5.1 BTD Tokens will solely be used as a means of payment once the services on BitDrive platform will be accessible and usable, and BTD is not intended to be purchased as an investment.
5.2 These Terms, the White Paper or any other information available on the BitDrive platform or website cannot be considered as an invitation or recommendation to enter into an investment agreement with BitDrive Inc.
5.3 These Terms, the White Paper or any other information available on the BitDrive platform, app or website do not constitute an offer or invitation to buy or sell shares of a company, security products or other rights connected to BitDrive Inc. or any other associated company.
6.1 All the information in these Terms, the White Paper or any other information available on the BitDrive platform, app or website is given for general informational purposes only and does not provide any representation or warranty whatsoever as to its accuracy and completeness, now and in the future.
6.2 Purchaser agrees and acknowledges that regulatory measures, investigations and other actions from governments may affect BitDrive’s business operations in the future, and as a consequence the legal relationship between Purchaser and Bitdrive Inc. may be subject to (mandatory) change.
6.3 In the situation an event as mentioned in the preceding Clause 6.2 of this Agreement occurs, each Purchaser and User of BTD Token agrees and acknowledges that BitDrive Inc. or any of its affiliates, advisers or employees shall be held liable for any direct or indirect loss or damages caused by such changes.
6.4 BitDrive Inc. shall use its best endeavors to develop the BitDrive platform and the business operations. However, any person that acquired BTD Tokens agrees and acknowledges that BitDrive Inc. cannot provide a guarantee that it will manage to achieve the implementation of the BitDrive platform.
6.5 Moreover, purchaser expressly acknowledges the following list of risks are involved by purchasing, holding and using BTD Tokens:
(a) Losing access to BTD as a result of the loss of private key(s) and/or login credentials;
(b) Risks with the operations and unfavorable fluctuation of the Ethereum protocol or other networks;
(c) Risk of hacking and mining attacks and other unexpected security flaws;
(d) Losses that are not insured;
(e) Future regulations and governmental enforcement actions, including taxation;
(f) Lacking interest in the BitDrive platform and related software;
(g) The risk of dissolution of the Bitdrive platform and app and related activities in the future;
(h) Any other unanticipated risk in connection with the future development of crypto currency and other software technologies that can affect BTD in the future.
7. Representation and Warranties
7.1 Each participant of BitDrive’s Token Sale represents and warrants that he/she:
(a) Is authorized and has full legal capacity to acquire BTD Tokens in the jurisdiction of his/her domicile;
(b) Is not acquiring BTD Tokens on behalf of a person that legally cannot hold cryptographic tokens according to the applicable law;
(c) knows all applicable regulations in his/her jurisdiction regarding crypto currencies;
(d) Resides in a jurisdiction in which BitDrive Inc. is allowed to sell their BTD Token without any regulatory restrictions;
(e) Will not use the BTD Token for any illegal activity of some sort, including but not limited to money laundering and the financing of terrorism;
(f) Understands the use of cryptographic tokens and its risks.
8. Intellectual Property Rights
All intellectual property rights connected to the BitDrive platform and related software, belong solely to BitDrive Inc. and/or its licensors or affiliated companies and business partners. People who hold BTD or use the BitDrive platform, app or related software will not have any rights in such IP Rights.
9. Limitation of Liability
9.1 BitDrive Inc., as well as its officers, directors, agents, joint ventures, employees, suppliers and advisors and anyone on its behalf, assumes no responsibility or liability for losses from the Token Sale.
9.2 Bitdrive Inc. is never responsible or liable for any technical interruption or malfunction of the BitDrive platform and the related software, except damage caused by intentional misconduct or gross negligence.
If any of the provisions of these Terms are deemed to be invalid, void or unenforceable, the remaining provisions shall continue in full force and effect.
11. Applicable Law and Jurisdiction
The Terms, use of the platform and the related software and the purchase of BTD Token are exclusively governed by the law of Belize. All disputes that arise from or under these Terms shall be brought in front of the applicable court in Belize.