Terms of Use

(Applicable to Non-regulated countries of Africa, Asia, Europe, North America, South America & Oceanica)

Acceptance Of Terms

Thank you for choosing NavExM. The following Terms of Use (the "Terms") apply to any person that registers for and/or opens a NavExM Account through www.navexm.com or any associated mobile or web applications, website, or APIs.

The Terms constitute a legally binding agreement between you and NavExM and govern your access to and use of the NavExM cryptocurrency exchange platform (the "Platform"). For the purposes of these Terms, any reference to "we" "us" "our" "NavExM" and/or any similar term shall be construed as reference to NavExM.

By registering for and opening a NavExM Account, you unconditionally accept these Terms and agree to be bound by and act in accordance with them. You also accept and agree that you are solely responsible for understanding and complying with all laws, rules, regulations, and requirements of the jurisdiction in which you live that may be applicable to your use of the NavExM website and/or your NavExM Account, including but not limited to, those related to, taxes or foreign currency transactions.

Please read these Terms carefully before using the Platform because they affect your legal rights and obligations.

Amendment of Terms

NavExM may amend the Terms from time to time. You should visit the Terms of Use page on the Platform regularly to check when the Terms were last updated (as displayed at the top of this document) and to review the current Terms. We will do our best to notify you of any amendments to the Terms that we consider likely to materially affect your rights and obligations. Any such notice will be posted on the Platform or sent to the email address associated with your NavExM Account.

The continued use of your NavExM Account, after any amendment to these Terms, constitutes your acceptance of the Terms, as modified by such amendment. If you do not accept the Terms, or any amendment to them, you must immediately stop using the Platform and your NavExM Account.

Registration And Onboarding

Where any part of the Platform requires you to register in order to use it, you are obliged to provide accurate and complete registration information. It is your responsibility to update and maintain any changes to that information by altering your details as appropriate.

The Platform shall allow you access to use registration areas of the Platform on the basis that:

You satisfy all the eligibility criteria stipulated below,
Your personal details including your email address and password are personal to you and may not be used by anyone else,
You shall not do anything to assist anyone who is not a registered user to gain unauthorized access to any area of the Platform or use your account to carry out transactions on behalf of a third party,
You submit and consent to all verification of all KYC documentation, including but not limited to Anti Money laundering checks that may be conducted by NavExM in compliance with applicable laws,
You will not use your NavExM Account for or in relation to any illegal or prohibited activity in violation of any laws, statutes, ordinances, or regulations,
You shall not maliciously create accounts for the purpose of abusing the functionality of the Platform, or other users, nor do you seek to pass yourself off as another user,
You are responsible for all activities that occur under your account, regardless of whether the activities are undertaken by you, your employees or a third party (including a spouse, children, and other relatives) and, except to the extent caused by our breach of this Terms,
We and our affiliates shall not be responsible for unauthorized access to your account, and you will contact us immediately you notice an unauthorized third party may be using your account or if your account information is lost or stolen, and
You shall comply at all times with the terms herein (as may be amended from time to time).

By opening a NavExM Account you expressly warrant and represent that:

You are 18 years of age or over and have full capacity to accept the Terms and enter any transaction available through the Platform,
You will not open, or attempt to open, a NavExM Account under any name except your own; or use your NavExM Account to carry out transactions on behalf of a third party,
You will follow the NavExM business account application process if you seek to open and use a NavExM Account for a non-individual legal entity (e.g., a company, trust, or partnership),
You will not have more than one NavExM Account; use or access any NavExM Account other than your own; or assist any other person in obtaining unauthorized access to any NavExM Account,
You will provide security for transactions carried out through your NavExM Account by ensuring there is sufficient digital currency in your NavExM Account in advance of any transaction,
You will not allow or facilitate the withdrawal of Local Currency from your NavExM Wallet to a bank account held in the name of a third party (see Withdrawals),
You will not use your NavExM Account for or in relation to any illegal activity, any Prohibited Activity, in violation of any laws, statutes, ordinances or regulations, or in breach of NavExM's Export Controls and Sanctions requirements.

We retain the absolute right to prevent you from accessing the Platform, without prejudice to any of our accrued rights, where the Platform, at our sole discretion, consider that you have, or are contravening the Terms.

By opening a NavExM Account you accept and agree that NavExM may, without further notice and in its sole discretion, terminate, suspend, or restrict the account of any customer who uses, or who we reasonably suspect may be using, the Platform or any NavExM Account in a manner that is inconsistent with the letter or spirit of these Terms.

Risks

Before using the Platform, you should ensure that you understand the risks involved in buying, selling, or trading digital currencies. Digital currency markets are volatile, and prices can fluctuate significantly which could result in sudden and significant increases or decreases in the value of your assets. This market volatility and other risks involved in buying, selling, or trading digital currencies are explained on the risk warning page of the NavExM website. There may be additional risks not identified in these Terms or in the risk warning page.

You should carefully assess whether your financial situation and risk tolerance is suitable for buying, selling, or trading digital currency. You accept and agree that you are solely responsible for any decision to buy, sell, trade, or otherwise hold or deal with digital currency.

Identity Verification

NavExM implements and maintains the highest standards of Know Your Customer ("KYC") processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing. While our industry is largely unregulated, NavExM voluntarily adheres to local and international compliance standards in relation to customer due diligence, as explained on the Compliance page of the NavExM website.

To ensure we meet these standards, our customers are required to provide certain personal details and documents when opening a NavExM Account ("Identity Verification"). The nature and extent of the Identity Verification required will depend upon which of our supported countries you are resident in, and the deposit and withdrawal limits that you wish to apply to your NavExM Account. In certain circumstances, NavExM may also perform enhanced due diligence ("EDD") procedures in relation to your NavExM Account. You accept and agree that you will remain subject to such procedures at all times.

NavExM reserves the right to, at any time to:

restrict or suspend your NavExM Account when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/or EDD; or
terminate your NavExM Account if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or EDD.

You accept and agree that there may be delays in accessing your NavExM Account, or in carrying out transactions through your NavExM Account, while we undertake any Identity Verification and/or EDD procedures.

Retention of information: NavExM is required to retain certain information and documentation obtained as part of the Identity Verification and EDD procedures. These requirements apply even when you have terminated your relationship with NavExM. We reserve the right to keep such information and documentation for the required period and you accept and agree that information and documentation you provide to NavExM may be retained by us, including following the closure of your NavExM Account.

The NavExM Wallet

The NavExM Wallet allows you to send, receive and store digital currency (together, "NavExM Wallet Transactions").

Own Digital Currency: The NavExM Wallet has launched its own ERC-20 based digital token named NavC which is available on NavExM to all traders along with other supported digital currencies ("Token").

Supported Digital Currencies: The NavExM Wallet is only available in relation to the digital currencies that NavExM, in its sole discretion, decides to support ("Supported Digital Currency" or "Supported Digital Currencies"). The Supported Digital Currencies may change from time to time. Under no circumstances should you attempt to carry out a NavExM Wallet Transaction in relation to a digital currency other than Token and Supported Digital Currency.

Withdrawals

Where you have added your local bank account details to your NavExM Account, you may withdraw funds from your NavExM Wallet to your bank account (a "Withdrawal"). NavExM will process Withdrawals in accordance with your instructions. You are solely responsible for ensuring that any Withdrawal instructions provided to NavExM, including the relevant bank account number, are complete and correct and you accept and agree that under no circumstances will NavExM be under any obligation to reverse or amend any Withdrawal.

NavExM will make all reasonable efforts to process Withdrawals each business day, in accordance with the Deposit and Withdrawal Schedule on the NavExM website, but you accept and agree that NavExM provides no guarantee in relation to the Withdrawal processing period.

Withdrawals to the bank account of any third party are expressly prohibited. You agree not to make, or attempt to make, any Withdrawal of funds from your NavExM Wallet to the bank account of a third party and accept that any such Withdrawal may be refused and/or result in the restriction, suspension or termination of your NavExM Account.

Peer to Peer Exchange Service

NavExM allows users to solicit offers to buy or sell Digital Currencies on its peer to peer (P2P Classic) marketplace. Payment methods are negotiated and exchanged on a peer-to-peer basis between the buyers in the Marketplace and sellers in the Marketplace. Our users agree upon which payment methods to use to complete a transaction and are fully responsible and liable for using such payment methods in a lawful manner.

Our users are able to post offers to either buy or sell Digital Currencies in a variety of convenient methods. The creator of the offer is responsible for listing terms of the transaction, including the payment methods the Seller will accept. Once an offer is selected by another NavExM user, the Seller's Digital Currencies are locked as part of our transaction procedures (which we refer to as "NavExM Escrow") until all conditions necessary to consummate the transaction have occurred.

NAVEXM DOES NOT ACT AS A PAYMENT PROCESSOR. ALL LIABILITY FOR SENDING AND RECEIVING PAYMENT AND CONFIRMING THE VALIDITY OF THE TRANSACTIONS LIE BETWEEN THE BUYER AND SELLER.

Buying Digital Currencies

When purchasing Digital Currencies on the NavExM Peer to Peer Marketplace: There are no fees for NavExM Escrow as part of a transaction that are payable by Buyers. IT IS YOUR RESPONSIBILITY TO CAREFULLY READ THE SELLER'S OFFER TERMS AND CONDITIONS AND FOLLOW THEM EXACTLY. IF YOU DO NOT FOLLOW THE OFFER TERMS AND CONDITIONS, YOUR PAYMENT WILL NOT BE ACCEPTED.

Payment verification and providing instruction to unlock Digital Currencies from NavExM Escrow are the sole obligations of the Seller and not that of NavExM. If the Seller does not release the Digital Currencies to you upon proper completion of the Seller's terms and conditions, promptly report the issue via the designated dispute button within the particular transaction chat.

Selling Digital Currencies

When selling Digital Currencies on the NavExM Peer to Peer Exchange: Sellers must verify and process the payment in a reasonable amount of time. Once the Buyer has submitted payment to you in accordance with the offer terms, it is your sole duty and responsibility to promptly verify and process the payment and then unlock the Digital Currencies from NavExM Escrow and release it to the Buyer.

NavExM charges a fee to you as the Seller of Digital Currencies for locking Digital Currencies in NavExM Escrow subject to a sale. Any payment received should be fully processed and confirmed as received by you before unlocking the Digital Currencies from NavExM Escrow.

Disputing Transactions

When a Buyer and a Seller cannot come to an agreeable solution, NavExM's support team can help. Either party can initiate the dispute resolution process with respect to a transaction. Disputed transactions will be investigated by NavExM Support and a decision will be made based upon evidence provided by both parties.

Finality: You acknowledge and agree that NavExM's decision regarding a Peer-to-Peer transaction dispute is conclusive, final and binding as described in this Agreement. NavExM will have no liability to either a Buyer or a Seller in connection with its decisions.

Fees

The fees applicable to transactions undertaken on the Platform can be viewed on the Fees Page of the NavExM website. NavExM reserves the right to change our fees at any time and will update the same on site accordingly.

Send and Receive fees: You may be charged a fee to send Supported Digital Currency from your NavExM Wallet and/or to receive Supported Digital Currency into your NavExM Wallet.

Withdrawal fees: All Withdrawals from your NavExM Wallet will incur a fee. Such fees differ by country and are set out on the Fees page of the NavExM website.

Swap fees: NavExM applies a Maker/Taker fee structure for customers using the Platform. By proceeding with any transaction, you accept and agree to the applicable fees.

Account Security

NavExM takes security very seriously. You are solely responsible for:

maintaining adequate security and control over your NavExM Account sign-in details, including but not limited to any passwords, personal identification numbers (PINs), API keys, or any other codes associated with your NavExM Account,
enabling any additional security features available to you, including the activation of two factor authentication on your NavExM Account,
keeping your contact details up to date so that you can receive any notices or alerts we may send to you in relation to security,
maintaining security and control over the email mailbox, phone number and two factor authentication applications or devices associated with your NavExM Account.

Failure to take the above measures may result in unauthorized access to your NavExM Account and the loss or theft of any digital currency held in your NavExM Wallet or any linked bank account.

Private keys: NavExM securely stores all Supported Digital Currency private keys ("Private Keys") associated with any NavExM Account. You accept and agree that NavExM shall retain full ownership and control of the Private Keys associated with your NavExM Account and that you shall have no control of, access to, or the ability to use, such Private Keys.

Service Availability

While we will do everything we can to provide continuous operations, NavExM does not provide any warranty in relation to the availability of the Platform or your NavExM Account. Without limiting the generality of the foregoing, we do not guarantee continuous access to the Platform or your NavExM Account and make no representation that the Platform, NavExM API, your NavExM Account and/or any products or services offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions, or loss of transmitted information.

Transactions On Digital Currency Networks

When you use your NavExM Account to send or receive digital currency, the transaction must be confirmed and recorded in the public ledger associated with the relevant digital currency network. That digital currency network is solely responsible for verifying and confirming any such transactions. NavExM cannot confirm, cancel, or reverse transactions on a digital currency network, other than those related to NavC or confirming to you that the network has completed the transaction.

You accept and agree that:

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 network,
When you send digital currency from your NavExM Account, you are authorizing us to submit your transaction request to the relevant digital currency network,
Digital currency networks are operated by decentralized networks of independent third parties. They are not owned, controlled, or operated by NavExM.

Network protocols and operating rules: The underlying software protocols that govern the operation of the Supported Digital Currencies are open source. Accordingly, anyone can use, copy, modify, and distribute them and NavExM has no ownership of or control over these protocols.

Default And Default Remedies

Each of the following constitutes an "Event of Default":

your failure to make any payment to us or to any Associated Company of ours in accordance with the conditions set out this Terms,
your failure to perform any obligation due to us,
where any representation or warranty made by you in these Terms is or becomes untrue,
if NavExM suspects that you are engaged in money laundering activities or terrorist financing or other criminal activities,
NavExM reasonably suspects that you opened the account fraudulently,
you are or become unable to pay your debts as and when they fall due.

If an Event of Default occurs, we may, at our absolute discretion, at any time and without prior notice:

close or part-close all or any of your transactions,
restrict your activities until NavExM can reasonably determine that an Event of Default occurred,
cancel or revoke any benefits awarded to you, and/or
take legal action for any losses suffered by NavExM.

Indemnity And Limitation of Liability

Neither we nor our directors, officers, employees, or agents shall be liable for any losses, damages, costs, or expenses incurred or suffered by you under these Terms unless arising directly from our or their respective gross negligence, willful default, or fraud. In no circumstances shall we have any liability for consequential loss or special damage.

You will make all your own decision to access and/or use our Platform or to enter into or execute any Transaction. You acknowledge and agree that our Platform does not and will not serve as the primary basis for any of your investment decisions concerning your NavExM Account.

In no event will any liability of NavExM, its operating entities or any other affiliates (including their respective directors, members, employees or agents) arising in relation to your use of the Platform or your NavExM Account, exceed (in aggregate) the fees earned by NavExM in connection with your use of your NavExM Account in the one-month period immediately preceding the event giving rise to the claim for liability.

Representation Warranties

You represent and warrant to us, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction by reference to the circumstances prevailing at such time, that:

the information provided to us in your application form and at any time thereafter is true and accurate in all respects,
you are duly authorized to execute these Terms, to open each Transaction and to perform your obligations hereunder,
you will enter into these Terms of Use and open each Transaction as principal,
execution, delivery and performance of these Terms and each Transaction will not violate any law applicable to you,
you will not use any Device that aims to manipulate or take unfair advantage of the way in which we construct, provide, or convey our prices,
you have considered your own financial circumstances and concluded that dealing in trading activities is appropriate for you,
no part of any funds remitted by you have been the proceeds of any illegal activity or used for any terrorist financing or money laundering activities.

Market Abuse Prohibited Trading Techniques

You agree that you shall not take any action or enter into any course of conduct which would breach Applicable Regulations and/or will or may alter, distort, or manipulate the relevant Underlying Market in relation to any Transaction contemplated by these Terms.

You shall not unlawfully access or attempt to gain access, or otherwise circumvent any security measures that we have applied to our Platform and/or computer system(s). If, at our sole discretion, we were to determine that you are in breach of this clause, we reserve the right to take all action as we see fit, including, without limitation, completely blocking your access to our Platform.

Personal Data and Privacy

You acknowledge that by opening an account with us and opening or closing Transactions, you will be providing us with personal information. You give consent to us for processing all such information for the purposes of performing the contract and administering the relationship between you and us. You consent to our disclosing such information:

where we are required to by law,
to Associated Companies,
to service providers and business partners with whom we have a mutual relationship,
where it is necessary in order to prevent crime.

For more information, please refer to our Privacy Policy.

Closure of Your Account

You may close your NavExM Account by submitting a closure request via the Help Centre. NavExM will action such requests once (i) the sum of all Local Currency and digital currency balances in your NavExM Wallet is below the Minimum Closure Amount; and (ii) no transactions have taken place in your NavExM Account for a period of at least 30 days.

You accept and acknowledge that, once your NavExM Account is closed:

you will have no further access to it,
NavExM will be under no obligation to notify you of, or provide to you, any digital currency sent to any receive address associated with your NavExM Account,
NavExM reserves the right (but has no obligation) to delete all of your information and account data stored on our servers.

The minimum withdrawal limit is US $10.00 / INR 500.00. Hence you cannot withdraw below US $10.00 / INR 500.00 at the same time of closing of your account.

Restriction Suspension and Termination

NavExM reserves the right to restrict, suspend or terminate your NavExM Account where:

We reasonably suspect your NavExM Account to be the subject of an operational or other error,
We reasonably suspect your NavExM Account has been or is being used in relation to any unlawful, fraudulent or Prohibited Activity, or in breach of these Terms,
We reasonably suspect you or your NavExM Account is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime,
We reasonably suspect your involvement in any attempt to gain unauthorized access to any NavExM Account,
we are compelled to do so by a valid court order, or other binding order of a government or regulatory authority,
your name appears on a government or international body sanctions list.

NavExM will make all reasonable efforts to provide you with notice of any decision to restrict, suspend or terminate your NavExM Account, unless we are prevented from doing so by any legal or regulatory process or requirement.

Financial Advice

Under no circumstances does any information contained on the Platform or provided to you through your NavExM Account or by any employee, agent or affiliate of NavExM, constitute financial, investment or other professional advice.

You are solely responsible for any decision to store, buy or sell digital currency, and such decision should take into account your risk tolerance and financial circumstances. You should consult your legal or tax professional in relation to your specific situation.

Taxes

You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through your NavExM Account, and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.

Prohibited Activities

You must not use your NavExM Account to undertake any of the activities or categories of activity set out in this section (each a "Prohibited Activity"):

violation of any laws, statutes, ordinance or regulations,
undertaking, facilitating or supporting criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking,
imposing an unreasonable or disproportionately large load on NavExM's infrastructure,
attempting to gain unauthorized access to the Platform or any NavExM Account,
transmitting or uploading any material to the Platform that contains viruses, Trojan horses, worms, or any other harmful programmes,
transferring your NavExM Account access or rights to a third party, unless as required by law or with NavExM's prior consent,
paying in to or otherwise supporting pyramid schemes, "get rich quick" schemes, multi-level marketing programmes or high-yield investment programmes,
fraudulent activity, including but not limited to taking any actions that defraud NavExM or a NavExM user,
transactions involving items that may help facilitate or enable illegal activity,
transactions involving online gambling sites or mixers,
sale or purchase of narcotics or controlled substances, and
intellectual property infringement.

We reserve the right to restrict, suspend or terminate your NavExM Account if we suspect, in our sole discretion, that you are using, or have used, your NavExM Account in association with any of the activities listed above.

Disclaimer Of Warranties

The Platform, your NavExM Account and any related products or services are offered on a strictly "as-is" and "where-available" basis and NavExM expressly disclaims, and you waive, all warranties of any kind, whether express or implied. Without limiting the generality of the foregoing, the Platform, your NavExM Account, and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.

Limitation Of Liability

In no event shall NavExM, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, or unavailability of the Platform and/or your NavExM Account.

In no event will any liability of NavExM, its operating entities or any other affiliates (including their respective directors, members, employees or agents) arising in relation to your use of the Platform or your NavExM Account, exceed (in aggregate) the fees earned by NavExM in connection with your use of your NavExM Account in the six-month period immediately preceding the event giving rise to the claim for liability.

The above limitations of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.

Force Majeure

NavExM will not be liable for any loss resulting from your use of the Platform, including, but not limited to, failure of electronic or mechanical equipment or communication lines, telephone or other interconnect problems, unauthorized access, theft, operator errors, or due to any "force majeure" (e.g., severe weather, pandemic, Lockdown, earthquake, flood, fire or other acts of God), and strikes or other labour problems, or to any other cause beyond the reasonable control of NavExM.

Queries, Complaints and Disputes

All queries and complaints should be raised with our customer support department through the support page on the platform.

These Terms and each Transaction entered into with you is in all respects governed by Laws prevailing in your jurisdiction to settle any disputes that may arise in relation thereto.

Contact Us

If You have any questions relating to these Terms of Use, your rights and obligations arising from these Terms of Use and/or Your use of the Website and the Service, or any other matter, please contact us at:

Email: [email protected]
Compliance: [email protected]

Topics