Welcome to WON!
Thank you for using our products and services ("Services"). Depending on your location, 1WON Technology OÜ, an Estonia private company, and/or World Open Network, LLC, a Montana limited liability company, provides the Services. By using our Services, you are agreeing to these terms. Please read them carefully.
To be eligible to use our Services, you must be:
1.1. at least 18 years old;
1.2. had not been removed or suspended from using our Services;
1.3. have full power to enter into this Agreement and in doing so will not violate any other agreement to which you are a party to;
1.4. are not located in, under the control of, or a national or resident of:
1.4.1. any restricted locations;
1.4.2. any country to which the US has embargoed goods or services;
1.5. are not identified as a "Specially Designated National";
1.6. are not placed on the Commerce Department's Denied Persons List;
1.7. are not placed on any global sanctions list;
1.8. will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.
2. WON’s Services
Your WON account ("WON Account") encompasses the following basic WON services:
2.1. One hosted WON Wallet that allows End Users to store both fiat currency and certain supported digital currencies, like Bitcoin ("Digital Currency"), and to track, transfer, and manage fiat and supported Digital Currencies (the "WON Wallet");
2.2. Conversion services through which End Users can obtain and dispose both fiat and supported Digital Currencies in transactions with other End Users (the "Conversion Services");You acknowledge and agree that you shall access and use the Platform at your own risk. The risk of loss in dealing with digital currencies and assets can be substantial. You should, therefore, carefully consider whether such exchanging is suitable for you. You should be aware of the following considerations, among others:
You acknowledge that WON shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when exchanging via the Platform, howsoever caused.
3. Creating an Account
3.1. Registration of WON Account
In order to use the WON Services, you will need to register for a WON account (a "WON Account"). During the registration process, we will ask you for information, including your name and other personal information to verify your identity. We may, in our sole discretion, refuse to open a WON Account for you, or limit the number of WON Accounts that you may hold, maintain or acquire.
When you create a WON Account, you agree to:
3.1.1. Provide accurate and complete information;
3.1.2. Maintain and promptly update your WON account information;
3.1.3. Maintain the security of your WON account by protecting your password and restricting access to your WON account;
3.1.4. Promptly notify us if you discover or otherwise suspect any security breaches related to your WON Account; and
3.1.5. Take responsibility for all activities that occur under your WON account and accept all risks of any authorized or unauthorized access to your WON Account, to the maximum extent permitted by law.
3.2 Identity Verification
During registration of your WON Account, you agree to provide us with the information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information. You will need to complete certain verification procedures before you are permitted to use the WON Services. Your access to one or more WON Services and the limits that apply to your use of the WON Services, may be altered as a result of information collected about you on an ongoing basis. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, a government identification, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number). In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to keep us updated if any of the information you provide changes. You authorize us to make inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. This includes authorizing your wireless operator to use your mobile number, name, address, email, network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber status details, if available, solely to allow verification of your identity and to compare information you have provided to WON with your wireless operator account profile information for the duration of the business relationship. 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. Additionally, we may require you to wait some amount of time after completion of identity verification before permitting you to use further WON Services and/or before permitting you to engage in transactions beyond certain volume limits.
4. WON Wallet
4.1 In General
Your WON Wallet, depending upon the level of your verification status and our ability to fulfill your request, enables you to store, track and manage fiat currency and supported Digital Currencies. Upon verification of the information you provided, you will have the ability to request, send and receive, and store fiat and Digital Currency to and from other End Users by giving instructions through the WON Site (each such transaction is a "Transaction").
Fiat and digital currencies held in your account are exclusively for transactions allowable on the Converter. Proceeds from your transactions will be credited to your WON account, less any transactional or other fees. Be advised that WON does not pay interest on balances in your account.
WON reserves the right to refuse to process or to cancel any pending Transaction as required by law or in response to a subpoena, court order, or other binding government order or to enforce transaction limits. WON cannot reverse a Transaction which has been broadcast to a Digital Currency network. The WON Wallet services are available only in connection with those Digital Currencies that WON, in its sole discretion, decides to support. The Digital Currency that WON supports may change from time to time. If you have any questions about which Digital Currency WON currently supports, please visit https://support.1won.com. Under no circumstances should you attempt to use your WON Wallet services to store, send, request, or receive digital currencies in any form that are not supported by WON. WON assumes no responsibility or liability in connection with any attempt to use WON Services for digital currencies that WON does not support.
Be advised that WON cannot restore encrypted private keys or otherwise recover private keys which are not within WON's control. If you lose or mishandle associated Digital Currency private keys, you acknowledge that you may not be able to recover associated Digital Currency, and that WON is not responsible for such loss.
WON processes Transactions according to the instructions received from its End Users. We do not guarantee the identity of any End User, receiver, requester or other party. You should verify all transaction information prior to submitting instructions to WON. In the event you initiate a Transaction by entering the recipient's email address and the recipient does not have an existing WON Account, WON will email the recipient and invite them to open a WON Account. If the designated recipient does not open a WON Account within 30 days, WON will return the supported Digital Currency associated with the Transaction to your WON Account. Once submitted to a Digital Currency network, a Transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the Digital Currency network. A Transaction is not complete while it is in a pending state. Funds associated with Transactions that are in a pending state will be designated accordingly, and will not be included in your WON Account balance or be available to conduct Transactions. WON will charge Fees to process a Transaction on your behalf. WON will calculate the Fee in its discretion, although WON will always notify you of the Fee before the time you authorize the transaction. WON reserves the right to delay or cancel any Transaction if it perceives a risk of fraud or illegal activity.
When you request that we load funds into your WON Account from your External Account or request that we push Funds to your External Account from your WON Account, you authorize WON to execute such transactions via our Services.
In case your External Account rejects your funds or may otherwise be unavailable, you agree that you will not hold WON liable for any damages resulting from such rejected transactions.
4.3. Third Party Payments
WON has no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or dispose of, to or from a third party (including other End Users of WON Services). WON is not responsible for ensuring that parties you may transact with will actually complete the transaction or is authorized to do so. If you experience a problem with any goods or services purchased from, or sold to, a third party in connection with fiat or Digital Currency transferred using the WON Services, or if you have a dispute with such third party, you must resolve the dispute directly with that third party. If you believe a third party has behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot adequately resolve a dispute with a third party, you may notify WON Support at https://support.1won.com so that we may consider what action to take, if any.
5. Conversion Services
5.1. In general
Eligible users in certain jurisdictions may exchange supported Digital Currency for other supported Digital Currency, fiat or make in application purchases through the Conversion Services (“Conversion Services”). When you transact via the Platform, you authorize WON to call upon other End Users who are willing to transact with you and then for WON to execute the Transaction in accordance with your order and charge you applicable fees.
The Conversion Services are subject to market conditions. WON will attempt, on a commercially reasonable basis, to match your order with available exchanges from other End Users in the Platform. You acknowledge and agree that market conditions may be volatile particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any Digital Assets and that WON is not liable for any such price fluctuations. In the event of a market disruption or Force Majeure, WON may either suspend access to the services or prevent you from completing any actions via the Platform, including closing any positions. Following such event, when exchanging resumes, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
You acknowledge that the quotes obtained from the market may not be the same as market quotes obtained at any other given time. You agree, as a condition of using any WON Conversion Services, that the market quotes you have accepted to be the sole conversion metric.
WON reserves the right to delay any Conversion Service transaction if it perceives a risk of fraud or illegal activity. WON does not guarantee the availability of its Conversion Service but we will use commercially reasonable efforts to process transactions within two (2) days of the date upon which End Users have agreed to execute a Transaction via the Platform.
Once the Platform executes your Transaction, a confirmation will be electronically made available detailing the particulars of the Transaction. You acknowledge and agree that the failure of the Services to provide such confirmation shall not prejudice or invalidate the terms of such Transaction.
5.2. Digital Asset Purchases
Third Party Developers who are on the WON Platform may develop Digital Assets for sale to End Users. Prior to completing your purchase or sale of Digital Assets from Third Party Developers, we will provide notice of the amount of Digital Assets you intend to purchase or dispose of and the amount of Funds you will be required to pay to receive such Digital Assets. You agree to comply with any terms and conditions provided within such notice to complete your purchase transaction.
All prices reflect the prices applicable to the purchase or sale of Digital Assets using fiat or digital currency identified on your purchase order. All Digital Asset sales and purchases are subject to availability, and we reserve the right to discontinue the sale and purchase of Digital Assets without notice.
5.3. Exchange Transactions
After successfully completing the Verification Procedures, you may obtain supported Digital Currency by linking a valid payment method. You authorize WON to initiate debits from your selected payment method(s) in settlement of purchase transactions. A Conversion Fee (defined below) applies to all purchase transactions. Note that even if we debit your selected payment method, such as your bank account or credit card, as soon as the same day you initiate the purchase, your payment may take three or more business days to process. We will make best efforts to fulfill all transactions, but in the rare circumstance where WON cannot fulfill your purchase order, we will notify you and seek your approval to fulfill the purchase order at the contemporaneous quoted market price.
5.4. Conversion Fees
Each Conversion Service transaction is subject to a fee (a "Conversion Fee"). The applicable Conversion Fee is displayed to you on the WON page or mobile application prior to you completing a Conversion Service Transaction. WON will not process a conversion transaction if the Conversion Fee and any other associated fees as may apply, such as wire transfer fees, exceed the value of your transaction. WON may waive some portion of the Conversion Fee depending on the payment method you select. The availability of each Payment Method depends on a number of factors, including but not limited to your location, the identification information you have provided to us, and limitations imposed by banks, credit card companies, among others.
You can view the current fee applicable to your location and payment method at our Fees page. WON reserves the right to adjust its Conversion Fees and any applicable waivers at any time. Changes to our fees are effective as of the effective date indicated in the notice and will apply prospectively to any transactions that take place following the effective date of such revised fee schedule. We will always notify you of the Conversion Fee which applies to your transaction when you authorize the transaction and in each receipt we issue to you.
WON may use a third party payment processor to process any US Dollar payment between you and WON, including but not limited to payments in relation to your use of the Conversion Service or deposits or withdrawals from your WON Wallet.
Only valid payment methods specified by us may be used to purchase Digital Assets. By placing an order to purchase Digital Assets from WON, you represent and warrant that (a) you are authorized to use the designated payment method and (b) you authorize us, or our payment processor, to charge your designated payment method. If the payment method you designate cannot be verified, is invalid or is otherwise not acceptable, your purchase order may be suspended or cancelled automatically. You agree to resolve to the best of your abilities any problems we encounter in order to proceed with your purchase order.
If you failed to pay fees or any other amounts owed to WON under these Terms and WON refers your account(s) to a third party for collection, then WON will charge you the lesser of an 18% collection fee or the maximum percentage permitted by applicable law, to cover WON's collection related costs.
5.5. Cancellations, Reversals
ALL TRANSACTIONS ARE FINAL. You cannot cancel, reverse, or change any transaction marked as complete or pending and we do not provide refunds or accept any cancellations or returns, except as otherwise provided in these Terms.
In the event of an error, whether via our Platform or in a purchase order confirmation, in processing your purchase, or otherwise, we reserve the right to correct such error and revise your purchase transaction accordingly (including charging the correct price) or to cancel the purchase and refund any amount received.
If your payment is not successful or if your payment method has insufficient funds, you authorize WON, in its sole discretion, either to cancel the transaction or to debit your other payment methods, including WON balances or other linked accounts, in any amount necessary to complete the transaction. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, NSF, or similar fees charged by your payment provider. If you have an insufficient amount of funds in your WON Account to complete a transaction, we may cancel the entire transaction or may fulfill it partially using the amount of funds currently available in your account, less any fees owed to WON in connection with the transaction. WON reserves the right to refuse to process, or to cancel or reverse, any purchases or sales of Digital Currency in its sole discretion, even after funds have been debited from your account(s), if WON suspects the transaction involves (or has a high risk of involvement in) money laundering, terrorist financing, fraud, or any other type of financial crime; in response to a subpoena, court order, or other government order; if WON reasonably suspects that the transaction is erroneous; or if WON suspects the transaction relates to Prohibited Use as set forth below and in our Policies. In such instances, WON will reverse the transaction and we are under no obligation to allow you to reinstate a purchase or sale order at the same price or on the same terms as the cancelled transaction.
6. General Use, Prohibited Use and Termination
6.1. Limited License
We grant you a limited, revocable, nonexclusive, nontransferable license, subject to the terms of this Agreement, to access and use the WON Site, and related content, materials, information (collectively, the "Content") solely for approved purposes as permitted by WON from time to time. Any other use of the WON Site or Content is expressly prohibited and all other right, title, and interest in the WON Site or Content is exclusively the property of WON and its licensors. You agree you will not copy, transmit, distribute, dispose, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, exchange marks or registered marks of WON or its licensors, or in any other way exploit any of the Content, in whole or in part of "1won.com", "WON", " Ŵ" or any logos related to the WON Services or displayed on the WON Site.
The WON Site and Content may also include information that you provide to us (collectively “User Content”). User Content is your intellectual property. We do not claim ownership rights in such User Content. However, by posting User Content via the WON Site, you hereby grant to us a limited, transferable, nonexclusive, worldwide, perpetual, irrevocable, royalty-free right and license to use, reproduce, modify, edit, adapt, publish, translate, display, distribute, sell, sublicense, and create derivative works and compilations incorporating such User Content. We reserve the right to remove User Content from the WON Site at any time and for any reason without notification to you. YOU AGREE THAT YOU WILL EVALUATE AND BEAR ALL RISK RELATED TO THE USE OF, OR ANY ACTIVITIES ASSOCIATED WITH, ANY USER CONTENT THAT YOU POST OR PROVIDE THROUGH THE WON SITE. THE RESULTS OF ANY ACTIONS YOU TAKE BASED ON USER CONTENT OR OTHER CONTENT YOU FIND ON THE WON SITE ARE SOLELY YOUR RESPONSIBILITY. Under no circumstances will we be liable in any way for User Content or for any loss or damage of any kind incurred as a result of the transmission of any of User Content through the WON Site. You agree that we are not liable for any legal violation caused by your use or misuse of the Content or other information transmitted, monitored, stored, or received while using the WON Site.
6.2. Website Accuracy
Although we intend to provide accurate and timely information on the WON Site, the WON mobile applications, the WON Site (including, without limitation, the Content) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the WON Site are your sole responsibility and we shall have no liability for such decisions. Links to third-party materials (including without limitation websites) may be provided as a convenience but are not controlled by us. You acknowledge and agree that we are not responsible for any aspect of the information, content, or services contained in any third-party materials or on any third party sites accessible or linked to the WON Site,
6.3. Third Party Applications and Content
If, to the extent permitted by WON from time to time, you grant express permission to a third party to access or connect to your WON Account, either through the third party's product or service or through the WON Site, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. You are fully responsible for all acts or omissions of any third party with access to your WON Account. Further, you acknowledge and agree that you will not hold WON responsible for, and will indemnify WON from, any liability arising out of or related to any act or omission of any third party with access to your WON Account. You may change or remove permissions granted by you to third parties with respect to your WON Account at any time through the Account Settings (Integrations) page on the WON Site.
In using our Services, you may view content provided by third parties, including links to web pages of such parties ("Third-Party Content"). We do not control, endorse or adopt any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.
6.4. Prohibited Use
In connection with your use of the WON Services, and your interactions with other End Users, and third parties you agree and represent you will not engage in any Prohibited Use as defined herein. We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process or governmental request. We reserve the right to cancel and/or suspend your WON Account and/or block transactions or freeze funds immediately and without notice if we determine, in our sole discretion, that your Account is associated with a Prohibited Use.
6.5. Transaction Limits
The use of all WON Services is subject to a limit on the amount of volume, stated in local fiat currency U.S. Dollar terms, you may transact or transfer in a given period (e.g., daily). To view your limits, log into your WON Account and visit https://www.1won.com/setting/kyc3/edit. Your transaction limits may vary depending on your payment method, verification steps you have completed, and other factors. WON reserves the right to change applicable limits as we deem necessary in our sole discretion. If you wish to raise your limits beyond the posted amounts, you may submit a request at https://support.1won.com. We may require you to submit additional information about yourself or your business, provide records, and arrange for meetings with WON staff (such process, "Enhanced Due Diligence"). WON reserves the right to charge you costs and fees associated with Enhanced Due Diligence, provided that we notify you in advance of any such charges accruing. In our sole discretion, we may refuse to raise your limits or we may lower your limits at a subsequent time even if you have completed Enhanced Due Diligence.
6.6. Suspension, Termination, Cancellation
WON may: (a) suspend, restrict, or terminate your access to any or all of the WON Services, and/or (b) deactivate or cancel your WON Account if:
6.6.1. We are so required by a subpoena, court order, or binding order of a government authority; or
6.6.2. We reasonably suspect you of using your WON Account in connection with a Prohibited Use or Business; or
6.6.3. Use of your WON Account is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your Account activity; or
6.6.4. Our service partners are unable to support your use; or
6.6.5. You take any action that WON deems as circumventing or breaching WON's controls, policies, or this Agreement, including, but not limited to, opening multiple WON Accounts or abusing promotions which WON may offer from time to time.
If WON suspends or closes your account, or terminates your use of WON Services for any reason, we will provide you with notice of our actions on a commercially reasonable basis unless a court order or other legal process prohibits WON from providing you with such notice. You acknowledge that WON's decision to take certain actions, including limiting access to, suspending, or closing your account, may be based on confidential criteria that are essential to WON's risk management and security protocols. You agree that WON is under no obligation to disclose the details of its risk management and security procedures to you.
You will be permitted to transfer Digital Currency or funds associated with your WON Wallet for ninety (90) days after Account deactivation or cancellation unless such transfer is otherwise prohibited (i) under the law, including but not limited to applicable sanctions programs, or (ii) by a subpoena or court order. You may cancel your WON Account at any time by withdrawing all balances and visiting https://support.1won.com. You will not be charged for canceling your WON Account, although you will be required to pay any outstanding amounts owed to WON. You authorize us to cancel or suspend any pending transactions at the time of cancellation.
6.7. Relationship of the Parties
WON is an independent contractor for all purposes. You acknowledge and agree that WON is not acting as your broker, intermediary, agent or advisor or in any fiduciary capacity and that no communication or information provided to you by WON shall be considered or construed as advice. Further, nothing in this Agreement shall be deemed or is intended to be deemed, nor shall it cause, you and WON to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or WON to be treated as the agent of the other.
6.8. Password Security; Contact Information
You are responsible for maintaining adequate security and control of any and all IDs, passwords, hints, personal identification numbers (PINs), API keys or any other codes that you use to access the WON Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your WON Account by third-parties and the loss or theft of any Digital Currency and/or funds held in your WON Account and any associated accounts, including your linked bank account(s) and credit card(s). You are responsible for keeping your telephone number up to date in your Account Profile in order to receive any notices or alerts that we may send you. We assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of WON and/or failure to follow or act on any notices or alerts that we may send to you. In the event you believe your WON Account information has been compromised, contact WON Support immediately via the Support Ticket on web or mobile application.
The WON Site may allow you to store your login credentials in your web browser so that you can be automatically logged in each time you access the WON Site. If someone else has access to your computer or web browser, the automatic login feature will allow that person to have access to your WON Account. You are responsible for any damages to WON or the WON Site resulting from unauthorized access to the WON Site from your WON Account and we will have no liability to you or any third party for damages or loss related to such unauthorized access or use.
It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the WON Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. You agree that WON is not responsible for determining whether taxes apply to your exchanges or for collecting, reporting, withholding or remitting any taxes arising from any exchanges. Your transaction history is available through your WON Account.
6.10. Unclaimed Property
If WON is holding funds in your account, and WON is unable to contact you and has no record of your use of the Services for several years, applicable law may require WON to report these funds as unclaimed property to the applicable jurisdiction. If this occurs, WON will try to locate you at the address shown in our records, but if WON is unable to locate you, it may be required to deliver any such funds to the applicable state or jurisdiction as unclaimed property. WON reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
6.11 Mobile Use
Your contract with your mobile network provider (“Mobile Provider”) will continue to apply when accessing or using the WON mobile application on your mobile, handheld device (“Mobile Device”). You understand that your Mobile Provider may charge you fees for your use of its network connection services while accessing or using the WON mobile application, for data downloading, e-mail, text messages, for roaming, and other Mobile Provider or third party charges. YOU ACCEPT RESPONSIBILITY FOR ALL MOBILE PROVIDER FEES.
6.14. Disclaimers of Warranty
TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE,” AND AT YOUR SOLE RISK. TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, TITLE, AND NON-INFRINGEMENT. WITHOUT LIMITATION, WE MAKE NO WARRANTY THAT THE SERVICES WILL MEET YOUR REQUIREMENTS, THAT USE OF THE FOREGOING WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, THAT THE RESULTS OBTAINED FROM THE USE OF THE FOREGOING OR ANY INFORMATION OR CONTENT FOUND ON THE SERVICES WILL BE ACCURATE OR RELIABLE, THAT DEFECTS IN THE OPERATION OR FUNCTIONALITY OF THE SERVICES WILL BE CORRECTED, THAT THE SERVICES AND ANY CONTENT OR INFORMATION FOUND ON THE SERVICES WILL BE VIRUS-FREE, OR THAT THE QUALITY OF ANY INFORMATION, CONTENT, OR OTHER MATERIALS OBTAINED THROUGH THE SERVICES WILL MEET YOUR EXPECTATIONS. ANY CONTENT OR OTHER MATERIALS DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICES IS DONE AT YOUR SOLE RISK, AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL. FURTHER, PLEASE NOTE THAT NO ADVICE OR INFORMATION, OBTAINED BY YOU THROUGH THE SERVICES OR ANY PRODUCT WILL CREATE ANY WARRANTY NOT EXPRESSLY PROVIDED FOR IN THESE TERMS. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES. ACCORDINGLY, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.
7. Customer Feedback, Queries, Complaints and Dispute Resolution
If you have any feedback, questions, or complaints, contact us via our Customer Support webpage at https://support.1won.com or write to us at WON Customer Support, 4400 Bohannon Drive, Menlo Park, CA 94025, USA. When you contact us please provide us with your name, address, and any other information we may need to identify you, your WON Account, and the transaction on which you have feedback, questions, or complaints. If you believe your account has been compromised, you may also report your claim by using the WON support ticket system.
We will own exclusive rights, including all intellectual property rights, to any feedback, suggestions, ideas or other information or materials regarding WON or our Services that you provide, whether by email, posting through our Services or otherwise ("Feedback"). Any Feedback you submit is non-confidential and shall become the sole property of WON. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to the Feedback (including any copyrights or moral rights). We also have the right to disclose your identity to any third party who is claiming that any content posted by you constitutes a violation of their intellectual property rights, or of their right to privacy. We have the right to remove any posting you make on our website if, in our opinion, your post does not comply with the content standards set out in this section.
If you have a dispute with WON, we will attempt to resolve any such disputes through our support team. If we cannot resolve the dispute through our support team, you agree that any dispute arising under this Agreement shall be finally settled in binding arbitration, on an individual basis, in accordance with the American Arbitration Association's rules for arbitration of consumer-related disputes (accessible at https://www.adr.org/sites/default/files/Consumer%20Rules.pdf) and you and WON hereby expressly waive trial by jury and the right to participate in a class action lawsuit or class-wide arbitration. The arbitration will be conducted by a single, neutral arbitrator and shall take place in Northern California in the English language. The arbitrator may award any relief that a court of competent jurisdiction could award, including attorneys' fees when authorized by law, and the arbitral decision may be enforced in any court. 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. The prevailing party in any action or proceeding to enforce this agreement shall be entitled to costs and attorneys' fees.
8.1. No Third Party Beneficiaries.
End User and WON agree that this Agreement is for the benefit of the Parties executing such Agreement and are not intended to confer any rights or benefits on any third party, including any employee or client of either Party executing such Agreement, and that there are no third party beneficiaries as to this Agreement or any part or specific provision of this Agreement.
8.2. Computer Virus
We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from WON. Always log into your WON Account through the WON Site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
8.3. Release of WON; Indemnification
YOU AGREE TO DEFEND, INDEMNIFY, AND HOLD HARMLESS WON, OUR OFFICERS, MEMBERS, MANAGERS, EMPLOYEES, AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS, LIABILITIES, DAMAGES, LOSSES, DEMANDS, OR EXPENSES, INCLUDING ATTORNEY’S FEES AND COSTS AND EXPENSES, ARISING OUT OF OR IN ANY WAY CONNECTED WITH: (1) YOUR USE OF THE SERVICES, (2) YOUR VIOLATION OF THIS END USER LICENSE AGREEMENT, (3) ANY USER CONTENT YOU POST OR PROVIDE THROUGH THE SERVICES, (4) YOUR VIOLATION OF ANY LAW OR THE RIGHTS OF ANY THIRD PARTY, AND (5) YOUR NEGLIGENCE OR WILLFUL MISCONDUCT. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW AND IN ADDITION TO THE WARRANTY DISCLAIMERS ABOVE, IN NO EVENT WILL (1) WE BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, LOSS OF TIME, GOODWILL, INCONVENIENCES, DATA, COMMERCIAL LOSS OR ANY OTHER INTANGIBLE LOSS, ARISING FROM, RELATING TO, IN CONNECTION WITH, OR AS A RESULT OF, THE SERVICES OF THE USE THEREOF, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, NEGLIGENCE, STRICT PRODUCT LIABILITY, OR OTHERWISE, EVEN IF WE HAVE BEEN INFORMED OF THE POSSIBILITY OF ANY SUCH DAMAGES IN ADVANCE; AND (2) OUR ENTIRE AGGREGATE LIABILITY, AND YOUR SOLE AND EXCLUSIVE REMEDY, FOR ANY CLAIM OR CAUSE OF ACTION ARISING HEREUNDER (REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, NEGLIGENCE, STRICT PRODUCT LIABILITY OR OTHERWISE) SHALL NOT EXCEED $100.00 USD. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.
End User acknowledges that the Services represent valuable commercial products, the development of which involved the expenditure of substantial time and money. Any violation of the licenses granted hereunder, confidentiality obligations or infringement or misappropriation of WON’s Intellectual Property rights, shall be deemed a material breach of the Agreement for which WON may not have adequate remedy in money or damages and WON shall be entitled to injunctive relief in addition to (and not in lieu of) such further relief as may be granted by a court of competent jurisdiction, without the requirement of posting a bond or providing an undertaking.
8.5. Entire Agreement
We may amend or modify this Agreement by posting on the WON Site or emailing to you the revised Agreement, and the revised Agreement shall be effective at such time. If you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your account. You agree that we shall not be liable to you or any third party for any modification or termination of the WON Services, or suspension or termination of your access to the WON Services, except to the extent otherwise expressly set forth herein. If the revised Agreement includes a material change, we will endeavor to provide you advanced notice via our website and/or email before the material change becomes effective.
You shall not assign or transfer this Agreement or any rights or obligations under this Agreement without WON’s prior written consent. A change in control constitutes an assignment under this Agreement. Any unauthorized assignment or transfer shall be void and constitutes grounds for immediate termination of this Agreement by WON. We reserve the right to assign our rights without restriction, including without limitation, to any WON affiliates or subsidiaries, or to any successor in interest of any business associated with the WON Services. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.
If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law or regulation or any governmental agency, local, state, or federal, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of this Agreement shall not be affected.
8.9. Change of Control
In the event that WON is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.
In case of accounts owned by legal entities, in the event that you are acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to require more information from you and suspend your account pending results of our vetting process.
All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, sections pertaining to suspension or termination, WON Account cancellation, debts owed to WON, general use of the WON Site, disputes with WON, and general provisions, shall survive the termination or expiration of this Agreement.
8.11. Governing Law
This Agreement is governed by and construed in accordance with the laws of the State of California, without giving effect to its principles of conflicts of law.
8.12. Force Majeure
Neither Party shall be liable for any failure or delay in its performance due to circumstances beyond its reasonable control (including, but not limited to, acts of terrorism, war (declared or not declared), sabotage, insurrection, riot, acts of civil disobedience, acts of any government, accident, fire, explosion, flood, storm, earthquake, volcanic eruption, nuclear event, any act of God, labor disputes, failure or delay of shippers, or unavailability of components or equipment); provided that it notifies the other Party as soon as practicable and uses commercially reasonable efforts to resume performance.
8.13. Interpretation of Headings and Controlling Language
Section headings of this Agreement have been added solely for convenience of reference and shall have no effect upon construction or interpretation of this Agreement.
Notwithstanding any other provision of this Agreement, any translation of this Agreement is provided for your convenience. 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.
8.14. Non-Waiver of Rights
Any waiver is only valid to the extent expressly set forth in writing. No waiver by either Party of any right under this Agreement shall constitute a subsequent or continuing waiver of such right or any other rights under this Agreement.
APPENDIX 1: PROHIBITED USE
You may not use your WON Account to engage in the following categories of activity ("Prohibited Uses"). The specific types of use listed below are representative, but not exhaustive. If you are uncertain as to whether or not your use of WON Services involves a Prohibited Use, or have questions about how these requirements apply to you, please contact us at https://support.1won.com. By opening a WON Account, you confirm that you will not use your Account to do any of the following:
Unlawful Activity: Activity which would violate, or assist in violation of, any law, statute, ordinance, or regulation, sanctions programs administered in the countries where WON conducts business, including but not limited to the U.S. Department of Treasury's Office of Foreign Assets Control ("OFAC"), or which would involve proceeds of any unlawful activity; publish, distribute or disseminate any unlawful material or information
Abusive Activity: Actions which impose an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information; transmit or upload any material to the WON Site that contains viruses, trojan horses, worms, or any other harmful or deleterious programs; attempt to gain unauthorized access to the WON Site, other WON Accounts, computer systems or networks connected to the WON Site, through password mining or any other means; use WON Account information of another party to access or use the WON Site, except in the case of specific Merchants and/or applications which are specifically authorized by an End User to access such End User's WON Account and information; or transfer your account access or rights to your account to a third party, unless by operation of law or with the express permission of WON
Abuse Other End Users: Interfere with another individual's or entity's access to or use of any WON Services; defame, abuse, extort, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others; incite, threaten, facilitate, promote, or encourage hate, racial intolerance, or violent acts against others; harvest or otherwise collect information from the WON Site about others, including without limitation email addresses, without proper consent
Fraud: Activity which operates to defraud WON, WON End Users, or any other person; provide any false, inaccurate, or misleading information to WON
Gambling: Lotteries; bidding fee auctions; sports forecasting or odds making; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; games of chance
Intellectual Property Infringement: Engage in transactions involving items that infringe or violate any copyright, exchange mark, right of publicity or privacy or any other proprietary right under the law, including but not limited to sales, distribution, or access to counterfeit music, movies, software, or other licensed materials without the appropriate authorization from the rights holder; use of WON intellectual property, name, or logo, including use of WON exchange or service marks, without express consent from WON or in a manner that otherwise harms WON or the WON brand; any action that implies an untrue endorsement by or affiliation with WON.
Pooled Account/Wallet Use. You agree and represent that you will use the WON Services only for yourself as the account owner and not on behalf of any other person or third party. You agree that funds transferred into your Wallet, however denominated, are yours alone, and have not been combined or pooled with funds from other persons or third parties. You cannot sell, lease, furnish or otherwise permit or provide access to your WON account to any other individual or entity. You understand and agree that you are responsible for any and all orders, purchases, and other instructions entered into WON including identifiers, permissions, passwords, and security codes associated with your WON account; and you represent that any and all such orders, purchases, and other instructions entered into WON have been entered of your own volition, and not at the request of another person or third party. Further, you agree and represent that any and all inbound/outbound transfers are to your personal wallet with your personal assets and not at any time part of a pooled account or wallet.
In addition to the Prohibited Uses described above, the following categories of businesses, business practices, and sale items are barred from WON Services ("Prohibited Use"). Most Prohibited Use categories are requirements of our banking providers or processors. The specific types of use listed below are representative, but not exhaustive. If you are uncertain as to whether or not your use of WON Services involves a Prohibited Use, or have questions about how these requirements apply to you, please contact us at
https://support.1won.com. By opening a WON Account, you confirm that you will not use WON Services in connection with any of following businesses, activities, practices, or items:
Investment and Credit Services: Securities brokers; mortgage consulting or debt reduction services; credit counseling or repair; real estate opportunities; investment schemes
Restricted Financial Services: Check cashing, bail bonds; collections agencies.
Intellectual Property or Proprietary Rights Infringement: Sales, distribution, or access to counterfeit music, movies, software, or other licensed materials without the appropriate authorization from the rights holder
Counterfeit or Unauthorized Goods: Unauthorized sale or resale of brand name or designer products or services; sale of goods or services that are illegally imported or exported or which are stolen
Regulated Products and Services: Marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age restricted goods or services; weapons and munitions; gunpowder and other explosives; fireworks and related goods; toxic, flammable, and radioactive materials; products and services with varying legal status on a state-by-state basis
Drugs and Drug Paraphernalia: Sale of narcotics, controlled substances, and any equipment designed for making or using drugs, such as bongs, vaporizers, and hookahs
Pseudo-Pharmaceuticals: Pharmaceuticals and other products that make health claims that have not been approved or verified by the applicable local and/or national regulatory body
Substances designed to mimic illegal drugs: Sale of a legal substance that provides the same effect as an illegal drug (e.g., salvia, kratom)
Adult Content and Services: Pornography and other obscene materials (including literature, imagery and other media); sites offering any sexually-related services such as prostitution, escorts, pay-per view, adult live chat features
Multi-level Marketing: Pyramid schemes, network marketing, and referral marketing programs
Unfair, predatory or deceptive practices: Investment opportunities or other services that promise high rewards; Sale or resale of a service without added benefit to the obtainer; resale of government offerings without authorization or added value; sites that we determine in our sole discretion to be unfair, deceptive, or predatory towards consumers
High risk businesses: any businesses that we believe poses elevated financial risk, legal liability, or violates bank policies.
Money Services: Express written consent and approval from WON must be obtained prior to using WON Services for the following categories of business and/or use ("Conditional Uses"). Consent may be requested by contacting us at https://support.1won.com. WON may also require you to agree to additional conditions, make supplemental representations and warranties, complete enhanced on-boarding procedures, and operate subject to restrictions if you use WON Services in connection with any of following businesses, activities, or practices:
Money Services: Money transmitters, Digital Currency transmitters; currency or Digital Currency exchanges or dealers; gift cards; prepaid cards; sale of in-game currency unless the merchant is the operator of the virtual world; act as a payment intermediary or aggregator or otherwise re-dispose any of the WON Services
Charities: Acceptance of donations for nonprofit enterprise
Games of Skill: Games which are not defined as gambling under this Agreement or by law, but which require an entry fee and award a prize
Religious/Spiritual Organizations: Operation of a for-profit religious or spiritual organization
APPENDIX 2: VERIFICATION PROCEDURES AND LIMITS
KYC L1 - No fiat transaction allowed at this level. At this tier, the customer would only be allowed to deposit and withdraw in Bitcoin.
KYC L2 - With Fiat Transactions. At this tier, the customer will be able to deposit, withdraw and trade in digital currency, fiat currency funding may be accessible and bank deposits and withdrawals are available.
KYC L3 - Fiat currency funding is available and funding limits will be higher than tier 2.
KYC L4 - this tier will refer to Corporate Accounts and will require everything from tiers 1-3 and the beneficial ownership requirements.