Definitions
Welcome to Vault App Technologies "Company", "we", "our", or "us" means VaultApp, its affiliates, and subsidiaries. "User", "you", or "your" means the individual or legal entity using the Services. "Virtual Assets" means cryptocurrencies, tokens, or other digital representations of value accepted on our platform. "AML" means anti-money laundering; "CFT" means counter-terrorism financing. “Wallet” means the virtual balance (crypto and/or fiat) Associated with your Account. “Fiat” means Nigerian Naira (NGN)
ACCOUNT OPENING
To access our Services, you must Complete our onboarding process and provide accurate, complete, and current information. You are responsible for safeguarding your login credentials. Any activity conducted under your account shall be deemed authorized by you.
ELIGIBILITY AND ACCEPTANCE
The service is limited to: individuals who are 18 years and above, have full legal capacity to enter into a binding contract, and a resident in a jurisdiction where use of the service is lawful. These terms form a legally binding agreement between you and us. You acknowledge that electronic acceptance (clicking “I agree”, continuing to use the app) has same legal effect as a signed written contract.
KYC (KNOW YOUR CUSTOMER) AND VERIFICATION
You agree to provide all necessary information and documentation for identity verification, risk assessment, and compliance purposes. Verification may include government-issued ID, proof of address, and details on source of funds or occupation. Failure to comply may lead to restrictions, Suspension or Closure of your account.
SERVICES
We provide Services that may include buying, selling, exchanging, and transferring Virtual Assets, fiat currency processing, and related custodial or transactional services. We reserve the right to modify, suspend, or discontinue any Service at our sole discretion without liability to you. We are not liable for crypto sent to a wrong, incompatible or non-controlled address.
USER OBLIGATIONS
You agree to use the Service only for lawful purposes and in compliance with these terms and applicable by Nigerian laws. You are responsible for the accuracy of the information you provide and all the activities that occur under your account.
ACCESS AND SECURITY
You agree not to circumvent, disable, or interfere with the security or integrity of the Services. We may restrict access if we suspect unauthorized use, fraud, or breach of these Terms.
TRANSACTIONS
All transactions are final once Executed and recorded on the blockchain or settlement system. You are solely responsible for ensuring that wallet addresses, network selections and transaction details are correct. We may delay, reverse, or refuse a transaction if it appears suspicious or in violation of these Terms.
INTELLECTUAL PROPERTY
All content, trademarks, logos, designs, software and technology used in or displayed in our services (including VaultApp, Vaultpedia) are owned by vault or its licensors. You are granted a limited, non-exclusive, non-transferable license to use the Services lawfully.
PROHIBITED ACTIVITIES
You must not use our services for terrorist financing, fraud, money laundering, scams or any financial crimes; interfering with services or attempting to gain unauthorized access to systems.
FEES, CHARGES AND TAX
You agree to pay all applicable fees as published on our platform. You are solely responsible for determining and paying taxes arising from your use of the service. We reserve the right to update our fees upon prior notice.
RISK DISCLOSURE
Virtual Assets are volatile and subject to regulatory, technological, and market risks Any market information, Charts, prices or educational content (Vaultpedia) is for information only and should not be relied upon as recommendation. You accept sole responsibility for evaluating these risks before using the Services.
INDEMNIFICATION
You agree to indemnify and hold Vault harmless from any claims, losses, damages, cost or expenses (including reasonable legal fees) arising from your breach of these Terms or misuse of the service.
GOVERNMENT LAW AND DISPUTE RESOLUTION
These Terms and any dispute arising out of or in connection with them or the service, shall be governed by the laws of the Federal Republic of Nigeria. Disputes shall be resolved by arbitration in Abuja, Nigeria, under the Arbitration and Mediation Act, conducted in English.
SUSPENSION AND TERMINATION
We may suspend, restrict or terminate your Account and/or access to some or all services at any time, with or without notice if breach the Terms, Fail KYC/AML checks or engage in prohibited activities. We may hold or freeze your funds during investigation.
LIMITATION OF LIABILITY
To the maximum extent permitted by applicable law, Vault shall not be liable for any indirect, incidental, special, punitive, or consequential losses, including but not limited to loss of profits, revenue, data, goodwill, or business opportunities arising from or related to your use of the Vault App. Nothing in these Terms shall exclude or limit Vault’s liability for fraud, willful misconduct, gross negligence, or any other liability that cannot legally be excluded under the laws of the Federal Republic of Nigeria.
INCORPORATION OF TERMS
These Terms are supplemented by and incorporate by reference our Privacy Policy, AML/CFT Policy, and any other notices, guidelines, or policies issued by us from time to time.
CHANGES TO TERMS
Vault may update these terms from time to time. When we make material changes, we will notify you via the App, Email or other appropriate channels. The updated terms will take effect on the date specified in the notice. Your continued use of the service after that date constitutes your acceptance of the updated Terms.
MISCELLANEOUS
If any provision of these Terms is held invalid, the remaining provisions remain enforceable. Failure to enforce a right does not constitute a waiver. These Terms constitute the entire agreement between you and FavexApp regarding the Services.