The Terms and Conditions (hereinafter T&C) apply to the buyer of the utility token BEAM Token (hereinafter “BEAM Token”) and future user of the BEAM Token Platform and constitute an agreement between Beam and you. Please read these terms carefully before moving onto the BEAM Token sale. The T&C affect your obligations and legal rights including but not limited to waiver of rights and limitation of liability. If you do not agree to these terms and conditions do not participate in the sale of the BEAM Token.
By purchasing the BEAM Token you will be bound by these T&C and all terms incorporated by reference. Your purchase of BEAM Token is subject to these T&C. You may not use our website services platforms the BEAM Token Platform and acquire BEAM Tokens if you are under 18 years old and if you are a citizen resident habitent or legal entity incorporated in restricted use areas.
1. Applicability
The following T&C constitute the agreement (the “Agreement”) between GBC S.A. (hereinafter “Beam” or the “us” ) a Portuguese Company with registration number 513332790 incorporated in Portugal at Rua Manuel Arriaga 99 B Sao Domingos de Rana Cascais Portugal and you (hereinafter “you” “user” or “contributor”) with respect to the purchase of the BEAM Token and the use of the services offered through the BEAM Token Platform. By using our services you are agreeing to be bound by the T&C in its latest version. You are aware that Beam may change these T&C at any time on our sole discretion without any prior notice to you. Any changes will be effective immediately upon posting on our Website. Your continued use of the BEAM Token Platform means that you accept any new or modified terms.
2. Services
Beam holds promotes and develops blockchain-based technologies and applications for marketing and payments for commerce and services companies working into retail business for consumers such as the Beam Platform. The Beam Platform is a blockchain-based platform that offers a combined marketing and payment solution for retail clients and allows consumers to control and benefit from their personal data. The Beam Protocol is a decentralized blockchain-based protocol that can be integrated into the retailer clients’s point of sale systems and offers integration to the Beam system (“Protocol”).
Beam has organizing and intends to conduct a smart contract based Initial Coin Offer for the continuous development of the Beam Platform. In return for a price the smart contract with the user will generate the BEAM Token built on the ERC20 token standard of the Ethereum blockchain and will serve as the original utility token of the Protocol (“BEAM Token”). The BEAM Token will be generated and allocated for the promotion of the Beam network in the market.
The functionality of the BEAM Token is twofold: first the BEAM Token needs to be held by certain participants of the Network in order to derive utility value out of the Platform and second the BEAM Token will be used to compensate other participants for bringing more shops and users to the BEAM Network.
Verified KYC enables users to participate/contribute in the BEAM Token sale.
BEAM Tokens are only for use in connection with the Beam platform and network under the terms of the Smart Contract System and only constitute a transferable representation of attributed functions specified in the Smart Contract System. BEAM Token Beam does not have the legal qualification as a security since it does not give any rights on dividends or interest any ownership right or stake share or equivalent rights or any right to receive future revenue shares or any other form of participation in or relating to Beam nor shall BEAM Token holders have any influence or rights in the development or governance of Beam. BEAM Token therefore is not a share and does not give any right to participate in the general meetings of Beam. BEAM Token is final and non-refundable. The acquirement and use of BEAM Token shall not be done for speculative usage.
The BEAM Token can be purchased directly from Beam or from other entities that Beam may indicate.
Beam gives no warranties that BEAM Tokens will be exchangeable on specific platforms or that they shall remain exchangeable on exchange platforms or that they would be exchangeable on other exchanges.
BEAM Token is not an investment advice a security nor an investment product and any action notice communication message decision managerial act or omission of the mentioned shall not be understood and interpreted as such. Beam gives no guarantees as to the value of any of the BEAM Token and explicitly warns users that there is no reason to believe that BEAM Token will increase in value and they might also decrease in value or lose their value entirely. You represent and warrant that you are acquiring BEAM Tokens for your own personal use and for your personal utility and not for investment or financial purposes. You also represent and warrant that you understand that BEAM Tokens may lose all their value and that you are not purchasing BEAM Tokens as an investment and that you are aware of all other risks deriving from holding BEAM Tokens as specified in these T&C and you accept them.
Beam is not a financial institution and is currently not under supervision of any financial supervisory authority. Beam does not provide any licensed financial services such as investment services fund management or investment advice. None of the information or analysis presented herein are intended to form the basis for any investment decision no specific recommendations are intended and Beam website and BEAM Tokens do not offer are not and shall not be construed as investment or financial products. In the event of any regulatory changes would impact the BEAM Token Beam reserves the right to amend its services the website and the BEAM Token.
3. Purchase
You can make contribution into a smart contract system in Ether Bitcoin (acceptable digital assets) or FIAT (according to accepted payment services) and receive BEAM Tokens in exchange. Beam reserves the right to amend acceptable digital asset or FIAT at any time based on its sole discretion.
4. Knowledge Required
The user purchasing BEAM Tokens expressly acknowledges and represents that she/he has carefully reviewed the T&C and fully understands the risks costs and benefits associated with the acquisition of this token as indicated in the T&C.
The user undertaking to acquire BEAM Token in relation to the token sale should ensure that she/he understands and has significant experience of cryptoassets blockchain systems and services and that she/he fully understands the risks associated with the BEAM Token sale as well as the mechanism related to the use and custody of cryptoassets.
Beam shall not be responsible for any loss of BEAM Tokens or situations making it impossible to access to BEAM Token which may result in any actions or omissions of the future user or any person undertaking to acquire BEAM Tokens.
Beam is not a provider of (a) exchange services between virtual currency and fiat currency; (b) wallet or custodial services of credentials necessary to access virtual currencies or (c) cryptoassets mining services. User expressly agrees and acknowledges that anytime throughout the duration of these T&C BEAM Tokens may require material technical commercial or any other changes and understands that an upgrade or modification of the BEAM Tokens may be required. If a user decides not to participate in such upgrade the user acknowledges and agrees that non-upgraded BEAM Tokens may lose their functionality in full and that they may no longer use the BEAM Token.
5. Risks
Development failure or abortion: Acquiring and storing BEAM Tokens involves various risks in particular that Beam may not be able to launch some operations and continue developing its platform network or community. Therefore and prior to acquiring BEAM Tokens any user should carefully consider the risks costs and benefits of acquiring BEAM Token within the Token Sale and if necessary obtain independent advice in this regard. Any interested person who is not in the position to accept nor to understand the risks associated with the activity (including the risks related to the non-development of Beam network and operations) or any other risks as indicated in the T&C should not acquire BEAM Tokens at this stage or later.
Legal Risk concerning Security Regulation: There is a risk that in some jurisdictions BEAM Tokens might be considered as a security now or in the future. Beam does not give warranties or guarantees that BEAM Token is not a security in all jurisdictions. Each user of BEAM Token shall bear its own legal or financial consequences of BEAM Token being considered a security in their respective jurisdiction. The legal ability of Beam to provide BEAM Tokens in some jurisdictions may be eliminated by future regulation or legal actions. In the event it turns out with a high degree of certainty that BEAM Tokens are not legal in certain jurisdiction Beam will base on its sole discretion either (a) cease operations in that jurisdiction or (b) adjust BEAM Tokens in a way to comply with the regulation should that be possible and viable. It is your obligation to check if acquisition and disposal of BEAM Tokens is legal in your jurisdiction and by accepting these T&C you expressly agree and warrant that you will not use BEAM Tokens should their use not be legal in the relevant jurisdiction.
Risk of malfunction of blockchain: Nobody can guarantee the source code used by Beam will be flaw-free. It may contain certain flaws errors defects and bugs which may disable some functionality for users expose users’ information or otherwise. Such flaw would compromise the usability and/or security of Beam and consequently bring adverse impact on the value of Beam open source codes rely on transparency to promote community-sourced identification and solution of problems within the code.
Update of the Source Code: The source code could be updated amended altered or modified from time to time. Nobody is able to foresee or guarantee the precise result of such update amendment alteration or modification. As a result any update amendment alteration or modification could lead to an unexpected or unintended outcome that adversely affects BEAM Tokens and/or Beam operation or market value.
Internet transmission risks: You acknowledge that there are risks associated with utilizing an Internet-based digital assets products and website including but not limited to the failure of hardware software and Internet connections. You acknowledge that Beam shall not be responsible for any communication failures disruptions errors distortions or delays you may experience when using our services website platform BEAM Tokens howsoever caused.
Cryptography risks: You acknowledge that there are risks associated with cryptography such as code cracking or technical advances such as the development of quantum computers could present risks to all crypto-currencies including BEAM Tokens. This could result in the theft loss disappearance destruction or devaluation of BEAM Tokens. To a reasonable extent Beam will be prepared to take proactive or remedial steps to update the protocol underlying Beam in response to any advances in cryptography and to incorporate additional reasonable security measures where appropriate. It is impossible to predict the future of cryptography or the future of security innovations to an extent that would permit Beam accurately guide the development of Beam to take into account such unforeseeable changes in the domains of cryptography or security.
Forking: BEAM Token is built on the ERC20 token standard of the Ethereum blockchain. Ethereum is an open source project and supported by the community. The developers of Beam do not lead the development marketing operation or otherwise of Ethereum. Anybody may develop a patch or upgrade of the source code of Ethereum’s source without prior authorization of anyone else. The acceptance of Ethereum patches or upgrades by a significant but not overwhelming percentage of the users could result in a “fork” in the blockchain of Ethereum and consequently the operation of two separate networks and will remain separate until the forked blockchains are merged. The temporary or permanent existence of forked blockchains could adversely impact the operation and the market value of the BEAM Token and in the worst case scenario could ruin the sustainability of Beam. While such a fork in the blockchain of Ethereum would possibly be resolved by community-led efforts to merge the forked blockchains the success is not guaranteed and could take long period of time to achieve.
Risk of unfavorable regulatory action in one or more jurisdictions: Blockchain technologies have been the subject of scrutiny by various regulatory bodies around the world. BEAM Token could be impacted by one or more regulatory inquiries or actions including but not limited to restrictions on the use or possession of BEAM Tokens which could impede or limit their existence permissibility of their use and possession and their value.
Risk of theft and hacking: Hackers or other groups or organizations may attempt to interfere with your third-party wallet the Website or the availability of BEAM Tokens in any number of ways including without limitation denial of service attacks Sybil attacks spoofing smurfing malware attacks or consensus-based attacks.
Risk of mining attacks: The blockchain used for the BEAM Tokens is susceptible to mining attacks including but not limited to double-spend attacks majority mining power attacks“selfish-mining”attacks and race condition attacks. Mining Attacks as described above may also target other blockchain networks with which BEAM Tokens interacts with. Any successful attacks present a risk to the BEAM Token.
Risk of loss of value and uninsured losses: Value of BEAM Tokens may fluctuate and you may suffer loss in value of such acquired BEAM Token. In addition to loss of value risk BEAM Tokens are entirely uninsured and are unlike bank accounts or accounts at some other financial institutions.
Unanticipated risks: Cryptoassets and blockchain technologies are new and untested technology an in addition to the risk outlined in these T&C there are also unforeseeable risks that may materialize as unanticipated.
Risk of Software Weaknesses: The user understands and accepts that the underlying software application and software platform the platform the protocol any software used for the purchase procedure the Smart Contract System and other involved software and technology and technical concepts are still at a recent development stage reason why there is no warranty that the process for receiving use and ownership of BEAM tokens will be uninterrupted or error-free and which is why there is an inherent risk that the software and related technologies could contain any vulnerabilities or bugs that may cause losses even if they might be immediately corrected.
Risk of Early Termination Abandonment/Lack of Success: The user understands and accepts that the creation of the BEAM Tokens may be terminated earlier or abandoned for a number of reasons including but not limited to lack of interest from the public lack of funding or lack of commercial success or prospects (e.g. caused by competing projects). The user therefore understands that there are no assurances even if the protocol was partially or fully developed and launched that the user will receive the total expected any benefits through the BEAM Tokens held by him or her.
Risk of Withdrawing Partners: The user understands and accepts that the BEAM Token project as a whole depends strongly on the collaboration of banks and other crucial partners of Beam. The user therefore understands that there is no assurance that the project will take place as foreseen and that it will be fully successfully executed.
Third Party Risk: The user understands that Beam may use third parties to manage and operate the purchase processes and has no possibility to control the software or mechanisms used by such third parties and cannot verify or guarantee the proper functionality of the third-party software or operations.
Risk Associated with other Applications: The user understands and accepts that the project may give rise to other alternative projects promoted by unaffiliated third parties under which BEAM Tokens will have no intrinsic value.
Risk of Loss of Private Key: BEAM Tokens can only be assessed by using an approved wallet with a combination of user’s information (address) private key and password. The private key is encrypted with a password. The user understands and accepts that if his/her private key file or password were lost or stolen the allocated BEAM Tokens associated with the user’s account (address) or password would be unrecoverable and would be permanently lost. Beam has no control over the BEAM Tokens; therefore the user shall have no recourse to seek any refunds recovery or replacements from Beam in the event that BEAM Tokens are lost or stolen.
Risk of Theft: The uontributor understands and accepts that the Smart Contract System concept and or the Protocol the underlying software application and software platform the Smart Contract System other involved software other technology components and/or platforms may be exposed to attacks by hackers or other individuals that could result in theft or loss of BEAM Tokens impacting the ability to develop and launch the Protocol.
Risk of Incompatible Wallet Service: The user understands and accepts that the wallet or wallet service provider used to the user must be technically compatible with the BEAM Token. The failure to ensure this may result in the user failing to gain access to his or her BEAM Tokens.
Risk of Depreciation: The user understands that with regards to the BEAM Tokens no market liquidity may be guaranteed and that the value (if any) of the BEAM Tokens over time may experience extreme volatility or depreciate resulting in loss that will be borne exclusively by the user.
You acknowledge agree and warrant that you have been warned of the potential risks involved by using our services website and product and other relevant technologies mentioned herein as well as that there may be other risks involved which are not specified herein and that you fully accept such risks.
6. Disclaimer
The T&C shall not and cannot be considered as an invitation to enter into an investment. They do not constitute or relate in any way nor should they be considered as an offering of securities in any jurisdiction. The T&C do not include or contain any information or indication that might be considered as a recommendation or that might be used to base any investment decision. This document does not constitute an offer or an invitation to sell shares securities or rights belonging to Beam BEAM Tokens or any related or associated company.
Any information in the T&C is given for general information purpose only and Beam does not provide with any warranty as to the accuracy and completeness of this information.
The offering of BEAM Tokens is done in order to allow the utilization of software services and not for speculative purposes.
Regulatory authorities are carefully scrutinizing businesses and operations associated to cryptoassets in the world. In that respect regulatory measures investigations or actions may affect Beam and/or BEAM Tokens and even limit or prevent it from developing its operations in the future.
Any person undertaking to acquire BEAM Tokens must be aware that the BEAM Token model and the T&C may change or need to be modified because of new regulatory and compliance requirements from any applicable laws in any jurisdictions. In such case any person undertaking to acquire BEAM Tokens acknowledge and understand that neither Beam nor any of its affiliates shall be held liable for any direct or indirect loss or damages caused by such changes.
Beam will do its best to launch its operations and develop the BEAM Token Platform. Any person undertaking to acquire BEAM Tokens acknowledges and understands that the Beam does not provide any guarantee that it will manage to achieve it.
Acquiring BEAM Token shall not grant any right or influence over Beam’s organization and governance to the users. BEAM Tokens will be issued by a technical process referred to as a «blockchain». This is an open source IT protocol over which Beam has no rights or liability in terms of its development and operation. The token distribution mechanism will be controlled by a Smart Contract; this involves a computer program that can be executed on the «blockchain» network that is compatible with the Smart Contract programming language. User acknowledge and understand therefore that Beam (including its bodies and employees) assumes no liability or responsibility for any loss or damage that would result from or relate to the incapacity to use the BEAM Token expected in case of intentional misconduct or gross negligence.
7. Eligibility Representation and Warranties
You must be at least 18 years old to use our services product and website. By using our services products and accessing our website you represent and warrant that you: (a) are at least 18 years old; (b) you have full power and authority to enter into these T&C (c) have not been previously suspended or removed from using our services.
If you are using the services on behalf of a legal entity you represent and warrant that: (a) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; (b) you are duly authorized by such legal entity to act on its behalf (c) any beneficial owner of the legal entity director employee services provider or any other individual in any way connected with the company has not been placed on any of the existing sanctions lists.
By participating in the Token Sale users agree to the T&C and in particular they represent and warrant that they: a) are authorized and have full power to acquire BEAM Token according to the laws that apply in their jurisdiction of domicile; b) are familiar with all related regulations in the specific jurisdiction in which they are based and that purchasing cryptographic tokens in that jurisdiction is not prohibited restricted or subject to additional conditions of any kind; c) are not acting for the purpose of speculative investment; d) live in a jurisdiction which allows Beam to sell the BEAM Token through a crowdsale without requiring any local authorization; e) does not live in a jurisdiction which is qualifying token issued through a crowd sale as securities; f) will not use the BEAM Token Sale for any illegal activity including but not limited to money laundering and the financing of terrorism; g) are solely responsible for determining whether the acquisition of BEAM Token is appropriate for them; h) are acquiring BEAM Tokens exclusively for use of the Beam platform; i) understand the risks associated with the BEAM Token Sale (including the risks related to the non-development of Beam network and operations) and understand the use of cryptoassets and its associated risks; j) acknowledge and accept that they shall not violate or attempt to violate the security of the website services platform and BEAM Token and will not hack into interfere with disrupt disable over-burden modify publish reverse engineer participate in the transfer or sale create derivative works or otherwise impair the website platform and BEAM Token.
8. IP Property
To the extent that copyright or other intellectual property rights exist on the Beam platform website app BEAM Token and services such as software know-how analysis or programs those copyrights and other intellectual and industrial rights belong to Beam. Under no circumstances will these T&C be construed as granting by implication estoppel or otherwise a license to any Intellectual Property or components thereof other than as specifically granted in these T&C. You agree that Beam’s Intellectual Property may be used only as provided in these T&C. All rights not expressly granted herein are reserved.
9. Representations Warranties and Acknowledgements
To the fullest extent permissible under applicable law our service website app and BEAM Tokens are provided on an “as is” and “as available” basis without warranties of any kind. No warranty of any kind express implied or statutory including implied warranties of condition uninterrupted use merchantability satisfactory quality fitness for a particular purpose non-infringement of third- party rights and warranties (if any) arising from a course of dealing usage or trade practice is given in conjunction to website services platform app BEAM Token or any software contained in website BEAM Token and services and in general.
Beam does not warrant that the service BEAM Token app or website will be error-free or uninterrupted or that any defects will be corrected in reasonable time. You acknowledge that your use of the service platform and website is at your sole risk.
While every effort is made to ensure that information contained in the website app or BEAM Token is correct Beam disclaims all warranties regarding the accuracy adequacy correctness completeness reliability timeliness non-infringement title merchantability or fitness of any information on the Website and or BEAM Token.
Beam does not guarantee the confidentiality or privacy of any communication or information transmitted through services on the website or BEAM Token or any site linked to the website. We will not be liable for the privacy or security of information e-mail addresses registration and any identification information (if applicable) disk space communications confidential or proprietary information or any other content transmitted to us in any manner or otherwise connected with your use of our services website or platform.
Beam 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 email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Beam. Always log into your account through the website to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
The user represents and warrants to Beam the following and acknowledges that Beam is relying on these representations and warranties: a) all information provided within any registration process linked to his/her/its BEAM Token purchase is true and accurate and the user does not act on behalf on any third party; b) the user is not listed or associated with any person or entity being list on any denied or blocked or sanctioned list whatsoever; c) the user understands and agrees that he is not entitled to sell donate pledge or transfer in any other way BEAM Tokens to persons as defined above; d) any funds used by the user are (i) good clean clear and are of non-criminal origin (ii) completely free and clear of any liens or encumbrances of any kind or any rights of third-party interests; and (iii) have no origins that may be connected to any breach of money laundering regulations whatsoever as defined in the jurisdiction of origin or internationally; e) the user understands that these T&C and the BEAM Tokens have not been and will not be registered under any US federal or state securities laws;
f) if the user is a legal entity the user is duly organized validly existing and in good standing under the laws of its domicile; g) the user has all requisite power and authority to execute issue and deliver these T&C and to carry out and perform its obligations under these T&C and any related agreements. These T&C constitutes a legal valid and binding obligation that is enforceable against the user in accordance with its terms; h) the user has been advised that these T&C and the underlying BEAM Tokens to be allocated to the user hereunder may in certain jurisdictions be considered a security besides being an utility token only used in connection with the Beam project network and platform; i) the user is entering into these T&C and is being allocated the underlying BEAM Tokens for its own account not as a nominee or agent and not with a view to or for reallocation in connection with the distribution thereof and the user has no present intention to reallocating granting any participation in or otherwise distributing the same;
j) the user has such knowledge and experience in financial and business matters that the user is capable of evaluate the merits and risks of entering into these T&C and being allocated the underlying BEAM Tokens is able to incur potential a complete loss of the purchase price without impairing the user’s financial condition and is able to bear the economic risks associated therewith for an indefinite period of time; k) the user has a deep understanding of the functionality usage storage transmission mechanisms associated with cryptographic tokens like bitcoins (BTC) and ethereum (ETH) and blockchain-based software systems and intends to obtain BEAM Tokens for the use of the Beam network and platform; l) the user understands and accepts that there is no warranty or assurance that the BEAM Tokens will be allocated to the user as proposed by these T&C; m) the user is legally permitted to receive and hold and make use of BEAM Tokens in the user’s jurisdiction; n) the user will use a wallet or wallet service provider that technically supports the BEAM Tokens. The user understands and accepts that using a wallet or wallet service provider that does not technically support BEAM Tokens may result in the user failing to gain access to his/her/its BEAM Tokens; o) the user is legally permitted to receive software and contribute to the Smart Contract System through the Services Providers platform to the development of the protocol; p) the user is of a sufficient age to legally obtain BEAM Tokens; q) the user will take sole responsibility for any restrictions and risks associated with the receiving and holding the BEAM Tokens; r) the user is not buying BEAM Tokens for the purpose of speculative investment; s) the user is not obtaining or using BEAM Tokens for any illegal purposes; t) the user is receiving the functionality of the BEAM Tokens issued by the Smart Contract System being aware of the risks associated with it;
u) the user understands that purchasing BEAM Tokens does not involve the purchase of shares securities exchangeable into shares or any equivalent in any existing or future public or private company corporation or other entity in any jurisdiction; v) the user understands that the allocation of BEAM Tokens carries significant financial regulatory reputational and other risks; w) the user understands that the user has no right against any other party to request any refund of funds submitted to Beam for the creation and allocation of the BEAM Tokens under any circumstances; x) the user waives the right to any participation in any class action lawsuit or a class wide arbitration against any entity or individual involved in the user to Beam with the allocation of BEAM Tokens and with the operation of Beam; y) the user understands and expressly accepts that there is no warranty whatsoever on BEAM Tokens and or the success of the network expressed or implied to the extent permitted by law and that allocated BEAM Tokens by these T&C are created and obtained for its own account at the sole risk of the user on an “as is” and “under development” basis and without to the extent permitted by law any warranties of any kind including but not limited to warranties of title or implied warranties merchantability or fitness for a particular purpose; z) the user understands and accepts that the Smart Contract System and/or underlying protocols and/or any other software involved may either delay and/or not execute a purchase due to the overall purchases volume mining attacks and/or technical similar events; aa) the user understands with regards to BEAM Tokens no market liquidity may be guaranteed and that the value of BEAM Tokens over time (if any) may experience extreme volatility or depreciable in full; bb) the user understands that the he/she/it bears the sole responsibility to determine if the purchase allocation use or ownership of BEAM Tokens the potential appreciation or depreciation in the value of BEAM Tokens over time (if any) the sale of BEAM Tokens and/or any other action or transaction related to the BEAM Token have tax implications; by contributing to Beam and/or by receiving using or holding BEAM Tokens and to the extent permitted by law the user agrees not to hold any associated party (including developers auditors contractors or founders) liable for any tax liability associated with or arising from the purchase allocation use or ownership of BEAM Tokens or any other action or transaction related to the BEAM Token.
10. Liability
Beam as well as its officers directors agents joint ventures employees suppliers and advisors assumes no liability or responsibility for any loss raised from the BEAM Token sale arising out of or related to the use of the Beam platform or any technical interruption or malfunction of the Beam platform website BEAM Token services app or otherwise. In no event shall Beam as well as its officers directors agents joint ventures employees suppliers and advisors be liable for any special indirect incidental punitive or consequential damages of any kind whatsoever including without limitation any damages caused by or resuming from reliance by any user or any information obtained from Beam or that result from mistakes omissions interruptions deletion of files or email errors defects viruses delays in operation or transmission or any failure of performance whether or not resulting from a force majeure event suspension of blockchain network communication failure theft destruction or unauthorized access to Beam’s records services website app or BEAM Token. In addition to the above Beam shall not be liable for any loss of profit loss of business trading losses loss in value or any other loss. This applies even if such damages are foreseeable.
The limitation of liability set out above shall not be applicable in the event that Beam or a Beam-employee has caused the damage by intentional misconduct or by gross negligence.
The user further specifically acknowledges that developers auditors contractors members of the board of directors or shareholders of the Beam platform the Smart Contract System the BEAM Token or the Beam protocol are not liable and the user agrees not to seek to hold them liable for the conduct of third parties including other creators of BEAM Tokens and that the risk of creating holding and using BEAM Tokens rests entirely with the user. By receiving holding or using BEAM Tokens and to extent permitted by law the user agrees not to hold any third party (including developers auditors contractors members of the board of directors or shareholders) liable for any regulatory implications or liability associated with or arising from the allocation ownership or use of BEAM Tokens or any other action or transaction related to the Beam protocol.
Parties acknowledges that each party would not enter into the T&C without these limitations on liability.
11. Indemnification
You will defend indemnify and hold Beam its affiliates and licensors and its officers directors contractors employees agents and representatives harmless from and against all claims actions demands liabilities damages losses costs and expenses (including legal fees) relating to or arising from (a) your use of our services website platform app and BEAM Token (b) your breach of these T&C or any other liabilities arising out of your use of the services website app and product or the use by any other person accessing the website service platform app or BEAM Token using your computer and or your personal information (c) your violation of any rights of any other person or entity in connection with these T&C (d) third-party claims concerning these terms or you thereof. You will promptly notify us of any third-party claims actions or proceedings which you become aware of that involves Beam as a result of these T&C. Beam may participate with counsel of its own choosing in any proceedings describing above. Beam will be required to respond to compulsory legal order you will reimburse Beam for reasonable attorney and contractors fees for their time and material spent responding to obligatory legal orders. You will not agree to any settlement which imposes any obligation or liability for Beam without Beam’s prior written consent.
12. Links
Our services website platform app and BEAM Token may include links to third party websites third party wallet providers or other service providers (“Third Party Sites”). If you use any links made available through our services website platform or app to reach other websites not maintained by Beam you will leave our services website platform or app. The linked sites are not under the control of Beam and Beam is not responsible for the content of any linked site or any link contained in a linked site. The linked sites are governed by the terms and conditions of that site.
Beam shall not be responsible or liable either directly or indirectly for any damage or loss caused or alleged to be caused in connection with your use or reliance on any such content information statements representations advertising products services or other materials available on or through third party sites. Beam provides these links to you only as a convenience and the inclusion of any link does not imply recommendation approval or endorsement by Beam of third party sites nor does it imply that the linked third party sites recommends approves of or endorses Beam.
13. Feedback
In connection with your use of our services website platform or app you may provide us with your feedback (suggestions ideas reviews comments material and questions or other information and/or material). We will own exclusive rights including all intellectual property rights to any feedback suggestions ideas or other information or materials you provide to us whether by email posting through our services website platform or otherwise. You waive any rights you may have to the feedback (including any copyrights to the extent permitted by law). Any feedback you provide to us is non-confidential non-proprietary and is not subject to a third-party license and we have no liability for any loss or damage suffered by you as a result of the disclosure or use of such feedback. We 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.
14. KYC
The user undertakes to provide to Beam upon first request all the documents and or information required at Beam’s sole discretion in order to complete Beams’s Know Your Customer and AML checks (“KYC-Check”). The user understands that the outcome of the KYC-Check for instance the non-admission of the purchase or his exclusion at any time later lies in the sole and absolute discretion of Beam. The user further understands that the amount of information requested to provide as part of the KYC-Check may be subject to change over time and that the user may at a later point in time be required to provide additional documents and or information based on which the purchase may be rejected.
Beam may designate the KYC-Check process to a provider of its choosing (“Service Provider”). All documents and information submitted by the user may be sent to one or more KYC-Check providers for review.
In return and subject to the timely transfer of the price and to the passing of the KYC-Check Beam shall release the Smart Contract System recommending an allocation of a corresponding number of BEAM Tokens to the user.
15. Term and Termination
These T&C is entered into for unlimited duration. We reserve the right to terminate and or suspend your access to our services website and app without giving you prior written notice and delete all related information and files related to your use of our services website platform mobile app without liability to you at any time for any reason including but not limited to if based on our sole discretion believe: (i) You have violated these T&C (ii) You create risk or possible legal exposure for us.
16. Assignments and Transfers
These T&C including any rights and obligations contains herein and the right to purchase and being allocated BEAM Tokens as described herein cannot be assigned or transferred by the user in whole or in part without the previous written consent of Beam. Any assignment or transfer that does not conform with the terms of this provision shall be void.
Beam is entitled to assign or transfer these T&C and the execution of the Beam project and BEAM Token project in whole or in part without the consent of user to any third party.
17. Notices
You agree and consent to receive electronically all communications agreements documents receipts notices and disclosures (collectively “Communications”) that Beam provides in connection with your use of Beam services website platform and mobile app. You acknowledge and agree that Beam may provide these Communications to you by posting them on its website or by emailing them to you at the email address you provide. Any email Communication will be considered to be received by you within 24 hours after we email it to you and Communication via our Website will be effective upon posting. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy.
It is your responsibility to keep your email address with Beam up to date so that Beam can communicate with you electronically. You understand and agree that if Beam sends you an electronic communication but you do not receive it because your email address is incorrect out of date blocked by your service provider or you are otherwise unable to receive electronic communications Beam will be deemed to have provided the communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book you must add Beam to your email address book so that you will be able to receive the communications we send to you. You can update your email address mobile phone number or street address at any time by logging into your Beam account.
You may contact us by sending email to support@beamwallet.com with general questions. All legal notices (including legal disputes) must be sent in writing to the following address: legal@beamwallet.com or postage prepaid by certified or registered mail return receipt requested and addressed to the authorized representative of the relevant Party. All given notices must be in English language.
18. Taxes
You are solely responsible and liable to declare bear and pay all taxes (including VAT if any) duties imposts levies tariffs and surcharges that might be imposed by the laws and regulations of any jurisdiction as a result of or in connection with the use or purchase of services website platform app BEAM Token or any other Beam product.
Beam is not giving any advice regarding tax issues and is not responsible for determining any tax implications connected with its services website platform app and the BEAM Token. Beam makes no representation as to the tax implication of any jurisdiction. You shall be solely liable for all such penalties claims fines punishments liabilities or otherwise arising from his/her underpayment undue payment or belated payment of any applicable tax.
All fees and charges payable by you to Beam are exclusive of any taxes and if certain taxes shall be applicable they shall be added on top of applicable amount. Upon our request you will provide us any information we reasonably request to determine whether we are obligated to collect VAT from you including your VAT identification number. If any deduction or withholding is required by law you will notify us and will pay us any additional amounts necessary to ensure that the net amount that we receive after any deduction and withholding equals the amount we would have received if no deduction or withholding had been required. Additionally you will provide us with documentation showing that the withheld and deducted amounts have been paid to the relevant taxing authority.
19. Fees
The user understands that the amount to be paid as the price of the BEAM Tokens will have to be converted into USD prior to the allocation of the BEAM Tokens. The user will be solely responsible and liable to bear all the taxes and fees related to that conversion.
20. Lock-Up
Depending on the stage at which the BEAM Tokens were acquired the user understands that the BEAM Tokens allocated to him may be subject to a Lock-Up Period during which the user is not able to redeem or sell his or her BEAM Tokens.
21. Privacy
Security measures: we protect your information using physical technical and administrative security measures to reduce the risks of loss misuse unauthorized access disclosure and alteration. Some of the safeguards we use are data encryption physical access controls to our data centers and information access authorization controls. We also authorize access to personal information only for those employees who require it to fulfill their job responsibilities.
Usage and sharing: we use personal information to provide our services and products for administering our business activities to communicate with you to promote safety and security (we use personal information for loss prevention anti-fraud and or unauthorized activity and to enforce these T&C) and to provide you with customer service technical support for audit purposes to prevent and investigate potentially prohibited or illegal activates and to notify you about improvements to our website app and new services we think you will find useful. We can use personal information so as to mitigate the risk of fraud identity theft or credit card theft. We may use your name and email address to provide you with information about products or services that may be of interest to you. You may access review and edit your personal information or ask us to delete your personal information at any time by logging in to the website using your credentials or by emailing us at: support@beamwallet.com.
We may also create anonymous aggregated and or other de-identified data records (“anonymous Information”) from information that you provide to us by excluding information (such as your name) that makes the information personally identifiable to you. We use this anonymous information to analyze request and usage patterns so that we may enhance the content of our services and to improve site navigation. We reserve the right to use anonymous information for any purpose and to disclose such data to third parties in our discretion.
Sharing of personal data: we take your privacy very seriously and will only share your personal information as needed with the entities within the ecosystem to perform the services and in the event if we are legally to meet any legal regulatory or governmental request including but not limited to events when we are compelled to do so by a subpoena court order or similar legal procedure.
22. Severability
If any of the provisions of the T&C are deemed to be invalid void or unenforceable the remaining provisions shall continue in full force and effect.
23. Miscellaneous
Entire Agreement: these T&C represent the entire agreement and supersede all prior understandings between you and Beam regarding the subject matter especially regarding the services website platform and BEAM Token.
Act of God Events: Beam shall not be liable for (1) any inaccuracy error delays or omission of (i) any information or (ii) the transmission or delivery of information; (2) any loss or damage arising from flood extraordinary weather conditions earthquake or other act of God fire war insurrection riot labor dispute accident action of government communications power failure or equipment or software malfunction or any other cause beyond Beam’s reasonable control (each also known as “Force Majeure Event”).
Waiver: Beam failure or delay in exercising any right power or privilege under these T&C shall not operate as a waiver thereof.
24. Governing Law and Jurisdiction
These T&C and all claims relating to or arising out of them or the breach thereof whether in contract tort or otherwise shall be governed by the laws of Switzerland.
Any dispute controversy or claim arising out or in connection with the purchase the functionality of the BEAM Tokens and the use of the network and/or the platform website or app shall be finally settled in accordance with the Swiss Rules of International Arbitration in force on the date on which the Notice of Arbitration is submitted and the seat of arbitration shall be in Zurich Switzerland and the language of the arbitration shall be in English.
To the fullest extent permitted by law the user waives the right to participate in any class action against Beam or any individual involves with the creation sell and allocation of the BEAM Tokens.
Any dispute controversy or claim arising out of or in connection with these T&C or the breach termination existence legal competence or invalidity thereof that is not settled by amicable negotiation or by arbitration shall be exclusively settled by the court of Zurich Switzerland.