JuanExchange Terms of Use

Introduction

Welcome! Thank you for choosing JuanExchange (“JEX”), is a flatform that offers services or engages in activities that provide facility for the conversion or exchange of fiat currency to virtual currencies (VCs) or vice versa or other value, operated by and proprietary to Zybi Tech Inc., (Zybi Tech) which is a company incorporated under the laws of the Philippines.

You are hereby instructed to refrain from using our service if you are located in, or a citizen or a resident of any state country, territory or other jurisdiction where the use of our service is illegal or otherwise violates any of your local laws.

This Terms of Use is between YOU and Zybi Tech. The use of the words “we,” “us,” or “our” in this Terms of Use refers to Zybi Tech and any or all of its affiliates. The words “you” or “your” refers to you or JEX user.

PLEASE READ CAREFULLY THESE TERMS OF USE. IF YOU DO NOT AGREE WITH ANY OF THE TERMS OF USE, YOU SHOULD NOT SIGN UP, OPEN AN ACCOUNT, AVAIL OF ANY OF THE SERVICES OF JEX AND/OR ACCESS THIS PLATFORM.

Covenant of the User

By signing up, opening an account and/or logging-in to your account, you voluntarily agree to be bound by these Terms of Use and all applicable and existing laws, rules and regulations. You attest that you have read entirely the Terms of Use and that you have understood the provisions, contents, meaning, implications and effects thereof without any limitation or qualification. You agree not to continue, access or use JEX or avail of its services should you have any claim or reservation against any matter in the Terms of Use.

Further, by creating an account with JEX, you represent and warrant that you are at least eighteen (18) years of age and have the legal capacity to enter into this agreement and to engage in any trade or business, and that you have neither an existing JEX account nor an account that was previously suspended, disabled, terminated or removed for violation of these Terms of Use and/or for other valid and lawful grounds. If you are creating an account on behalf of a legal entity of which you are an employee, agent or in any representative capacity, you warrant that you have the necessary power, right and authority to represent the legal entity and bind the same with your actions.

Furthermore, by accessing and using JEX, you represent and warrant that you are not involved in any illegal or unlawful trade, business or transaction, or is part of any negative list in the Philippines, or any equivalent circumstance in the Philippines or in other countries, that prohibits you from engaging in any trade or business for any reason/s.

We reserve the sole right to amend and/or revise these Terms of Use at any time by posting and updating this page. You agree to be bound by any amendment and/or revision made in these Terms of Use. We might require your affirmation and continuing acceptance of these Terms of Use from time to time as a condition for logging-in to JEX.

Description of Services

JEX provides an online digital asset trading platform for products commonly known as cryptographic tokens, digital tokens or cryptographic currency (collectively, “Virtual Currency”). The platform offers a facility for crypto to crypto trading. We do not offer fiat to fiat trading capabilities or represent buyer or seller in trades.

We are neither a market maker nor a capitalist and we shall have no liability for the use or interpretation of information as stated in Terms of Use or other communication in JEX platform. You agree and understand that there are risks involved in trading VCs. JEX encourages all users to exercise prudence and trade responsibly within their own means.

Getting Started

Registration

Prior to using JEX, all users must create and register an account at https://www.juanexchange.com/sign-up. To register, you need to provide your email address and password or mobile number and password. You must likewise accept JEX’s Terms of Use and Privacy Policy. We may, at our sole discretion, refuse to create and open an account for you. You agree to provide complete and accurate information when opening an account and to promptly update any information accordingly. Each registration is for a single user only and each user (either natural person or legal entity) may only maintain one active account with JEX. After creating an account, your access thereof is limited until you complete the User Identity Verification and Authentication process.

User Identity Verification

Authentication and verification of user’s identity is an essential element of Know-Your-Customer (KYC) standards of JEX in compliance with existing rules and regulations of the BSP, Anti-Money Laundering Act of 2001 (AMLA), as amended, and its IRR, and other pertinent laws and policies. In creating and registering an account with JEX, you agree to disclose and share personal information for purposes of identity verification and authentication. In providing us with the required information, you confirm and affirm that the same is true, accurate and authentic. Moreover, you understand and agree that the information that you shall provide us may be used particularly to detect and prevent any possible act of money laundering, fraud, terrorist financing, financial crimes and other unlawful and illegal acts. Rest assured that we shall collect, use and share such information in accordance with our Privacy Policy.

To have your account verified, you shall provide us with your:

    i. Complete Name;

    ii. Date of Birth;

    iii. Gender;

    iv. Nationality; and

    v. Address;

In addition, you are required to send us with your:

    i. Front and back view of your valid Government ID;

    ii. A selfie holding your Government ID; and

    iii. A note with a handwritten phrase “JuanExchange”, current date, and your signature.

Upon receipt of the required information and documents, we shall verify, authenticate and validate the same within the next 24-48 hours. If we discover that the information you had provided is incorrect, untruthful, outdated or incomplete, you will receive a notification from us to correct the same.

Exclusivity via JuanCash

You understand and agree that JuanCash is the only platform where you can cash-in and cash-out your fiat money from your JEX fiat wallet.

Assumption of Risk

You understand and agree that acquiring, holding and trading of Digital Currency goes with some risks and chances, positive or negative, as the price and value thereof may change rapidly from time to time depending on market situation and other factors. As such, we advise and encourage all users to exercise utmost prudence and diligence and good business judgment in transacting, dealing, exchanging or trading Digital Currency.

Losses and Liabilities

You shall be solely responsible for the safekeeping of your JEX account and password on your own, and you shall be responsible for all activities under Account and we will not be responsible for any loss or consequences of authorized or unauthorized use of your Account credentials including but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement, etc.

Security Breach

Shall refer to an event or occurrence that affects or tends to affect the data protection or may compromise the availability, integrity, and confidentiality of user’s personal data.

  • Availability Breach – Results from the loss or destruction of personal data, accidental or otherwise.
  • Integrity Breach – When there is unauthorized alteration of personal data which then renders its correctness, completeness, or reliability doubtful, or even worthless. In this case, the file and data it contains remain accessible, but may no longer be reliable.
  • Confidentiality Breach – Caused by unauthorized disclosure of or access to personal data.

Should you have a reasonable belief that any of the foregoing breaches occurs, please contact our Customer Support Department at 878-0889 loc. 402, 403, and 412 or send us an email at juanworld.support@zybitech.com to prevent further injury or loss upon your person or account.

If during the internal investigation, it is determined that the reported breach actually occurred due to the fault of JEX, please allow us five (5) banking days for our Legal Department to contact you for possible indemnification or restitution of any property that was lost.

System Failure

Except in cases of fortuitous event or force majeure, JEX will be vicariously liable for the system failure due to the negligent acts of our employees that resulted to losses or injury suffered by you.

Human Error

You agree and understand that we shall not be liable for any loss or damage arising from any use of your account, whether such use is made by you or by any third person and regardless if the use of the latter is authorized or not.

You are obliged to immediately notify us if you suspect or become aware of any unauthorized use of your account and/or your username and password. In this case, the rule on Security Breach shall apply.

Force Majeure

You agree and understand that in no event shall we be liable for any delay, failure in performance or interruption of service by reason of any cause or condition beyond our reasonable control, including but not limited to, acts of God, acts of nature, acts of civil or military authorities, acts of terrorists, civil disturbance, war, strike or other labor dispute, earthquake, fire, interruption in telecommunications or internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control.

Disclaimer of Warranties

You understand and agree that JEX materials, products, services and any and all information found and provided in the website are on an “as is” and “as available” basis. Thus, we disclaim any and all warranties, whether express or implied, including, without limitation to, merchantability, fitness for a particular purpose, title or non-infringement of proprietary rights arising from the course of performance, dealing or usage in trade. We also do not warrant and guarantee the accuracy, adequacy or completeness of any and all information, data and materials found in the website, and expressly disclaims liability from any and all errors or lapses therein. No warranty or guarantee is also given and that the platform or the website is free from any and all kinds of viruses or other corrupting codes and programs.

You also understand and agree that prices of VCs may rapidly change, increase or decrease from time to time depending on market situation and other factors beyond our control. In this regard, we do not warrant or guarantee any income, profit or interest from any and all of your trades, transactions or dealings through the use of JEX.

You further understand and agree that we have no control over the actions, intentions and preferences of the users. Thus, we do not warrant or guarantee that other users you are dealing with shall complete a transaction or are authorized to do so. We likewise make no representation or warranty as regards timeliness or promptness of complete processing of every transaction, as well as the technical accessibility, fitness or flawlessness of the services.

Custodianship of Virtual Currency

All VCs held in your JuanExchange Wallet are custodial assets held by Zybi Tech for your benefit, means;

a. Ownership to VCs shall at all times remains with you and shall not transfer to any person without your prior consent. As the owner of VCs in JuanExchange Wallet, you shall bear all risk of loss of such VCs. We shall not be held liable for the fluctuations in the fiat currency value of VCs held in your JuanExchange wallet.

b. You control the VCs held in your JuanExchange Wallet. At any time, subject to outages, downtime, and other applicable policies, you may withdraw your VCs by sending it to a different blockchain address controlled by you or a third party.

c. In order to more securely custody assets, we may use shared blockchain addresses, controlled by ours. Although we maintain separate ledger accounting entries for our users and Zybi Tech accounts, no member of the Company shall have any obligation to segregate by blockchain address VCs owned by you from VCs owned by other customers or by any member of the Company.

d. For purposes of effectuating a Trade, you authorize us to take temporary control of the VCs that you are disposing of in the Trade.

Account Usage

JEX account shall be accessed and used only by the person under whose name it is registered. Violation of this condition is a ground for us to disable your account. We reserve the sole and absolute right to suspend, freeze or cancel those accounts that are used by persons other than those to whom the same are registered. You are obliged to immediately notify us if you suspect or become aware of any unauthorized use of your account and/or your username and password. We shall not be liable for any loss or damage arising from any use of your account, whether such use is made by you or by any third person and regardless if the use of the latter is authorized or not.

Account Security

We strive to keep and maintain the safety of all users’ funds entrusted to us, and we undertake to observe and implement security and protection standards therefor. However, there are risks that are created by or connected with the actions of each individual user. In this regard, you agree to consider your access credentials such as your email address / mobile number and password as confidential information and not to disclose the same to any third person. You likewise agree that you alone are responsible for taking the necessary precautions to protect your own account and personal information. You shall be solely responsible for the safekeeping of your JEX account and password and all your activities therefor. We shall not be liable for any loss, risk or consequence of authorized or unauthorized use of your account.

By creating and maintaining an account with JEX, you hereby understand and agree that:

    i. You shall keep your access credentials - email address / mobile number and password - strictly confidential.

    ii. You shall immediately notify us of any unauthorized use of your account and/or your username and password or any other violations of these Terms of Use.

    iii. You shall strictly observe the security, authentication, dealing, charging and withdrawal mechanism and any and all processes and procedures of JEX.

    iv. You shall properly log-out from the website at the end of every visit.

Guidelines in Using the Services

License and Authority to Use and Access JEX

You acknowledge, understand and agree that JEX, its website, platform, materials and services and any and all things related or connected thereto are owned exclusively by us. Thus, notwithstanding your access and usage of JEX, we are not assigning, conveying or transferring any title, ownership, interest, right or privilege to you or anyone else. The content layout, format and features, and all texts, graphics, user and visual interfaces, photographs, sounds, artwork, computer code, programs, software, products, information and documentation related to JEX are owned and controlled by us to the exclusion of all others.

Thus, subject to your continued compliance with these Terms of Use, we shall provide you with a temporary, revocable, limited, non-exclusive and non-transferable license to access and use JEX’s platform and services on your computer or other internet compatible device. You are not, however, permitted to use the platform or the services for any resale or commercial purposes and/or to do trading of Digital Currency on behalf of another person or entity. These acts are absolutely prohibited and would constitute a material violation of these Terms of Use. All rights not expressly granted under these Terms of Use are hereby reserved in our favor. Accordingly, you are hereby prohibited from using the platform or the services in any manner that is not authorized or permitted, whether directly or indirectly, by these Terms of Use.

Restrictions

You shall not use your JEX account to do any activity relating to or connected with the following:

    i. violation of these Terms of Use and/or any and all laws, statutes, ordinances, rules and regulations, public interests, public ethics or other’s legitimate interests including taking any action that would interfere with, disrupt, negatively affect or inhibit other users from using our services;

    ii. market manipulation, such as pump and dump schemes, wash trading, self-trading, front running, quote stuffing and spoofing or layering regardless of whether prohibited by law or not;

    iii. criminal activity of any kind, including, but not limited to, money laundering, fraud, swindling, terrorist financing, illegal gambling operations, malicious hacking, etc.;

    iv. unauthorized access to JEX website and other accounts;

    v. transmitting or uploading any material to JEX website that contains viruses, trojan horses, worms or any other harmful programs;

    vi. Unless you have obtained prior written approval from us, you shall not use your JEX account and any and all information and data related or connected thereto for any of the following purposes and activities:

      a. exchange services that use quotes or order book information from JEX;

      b. data feed or data stream services that make use of any market data from JEX;

      c. any other websites/apps/services that charge for, or otherwise commercially monetize (including through advertising or referral fees), market data obtained from JEX;

      d. modify, reproduce, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any proprietary notice or label, license, sublicense, sell, mirror, frame, rent, lease, private label, grant a security interest in, create derivative works of, or otherwise exploit the properties, or any portion of the properties of JEX;

      e. use any "deep link," "page scrape," "robot," "spider," or other automatic device, program, script, algorithm, or methodology, or any similar or equivalent manual process, to access, acquire, copy, or monitor any portion of the properties or in any way reproduce or circumvent the navigational structure or presentation of the services to obtain or attempt to obtain any material, document or information through any means not purposely made available through the services;

      f. attempt to gain unauthorized access to any portion or feature of JEX and/or its systems or networks connected thereto, or to any of the services offered by JEX, by hacking, password mining or any other illegitimate or prohibited means;

      g. probe, scan, or test the vulnerability of the services or any network connected to JEX, nor breach the security or authentication measures thereof;

      h. reverse, look-up, trace, or seek to trace any information on any other user of or visitor to the services;

      i. take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the services or JEX’s systems or networks or any system or network connected to the services;

      j. use any device, software or routine to interfere with the proper working of the services or any transaction conducted thereon, or with any other person's use of the services;

      k. forge headers, impersonate a person, or otherwise manipulate identifiers in order to disguise your identity or the origin of any message or transmittal you send to the services;

      l. use JEX account and our services in any unlawful, illegal and prohibited manner or purpose; and

      m. any and all activities analogous to the foregoing.

You understand and agree that we have the right to investigate any violation of these Terms of Use, apply appropriate sanctions and/or act accordingly to the situation based solely on our reasonable judgment without any prior notice, including but not limited to, blocking and closing order requests; disabling, suspending and terminating your JEX account; reporting of the incident to proper authorities; publishing of the alleged violations and actions; and deleting any information taken, gathered or published through such violation.

Orders, Cancellations, Fees

Orders

JEX provides a facility for the conversion, exchange, buying and selling of Digital Currency. You may use your JEX account to place order (an “Order”) and to buy and/or sell Digital Currency. If all or part of your Order did match with another user, a trade (“Trade”) occurs. Unmatched orders rest on your Open Order. For purposes of effectuating a Trade, you hereby authorize us to take temporary control of the Digital Currency that you are disposing of in the Trade.

Cancellations

You may cancel your Order at any time before the same matches with an order from the other user. In case of “Partial Complete Order”, you may cancel the partial incomplete portion of the Order unless and until the incomplete portion is matched. We shall not be liable for any unauthorized complete order and we shall have no obligation to cancel the same even if such Order is authorized.

Fees

You hereby authorize us to automatically debit from your JEX account all fees associated with any and all transactions. All proceeds from the Trade will be credited to your JEX wallet. Please see the link provided herein for the updated Schedule of Fees - https://juanexchange.zendesk.com/hc/en-us/articles/360017895734-JuanExchange-Fee-Structure

Disablement, Suspension, Termination of JEX Account and Services

You hereby understand and agree that we shall have the right to immediately disable, suspend or terminate your account, freeze or lock the funds in your account and/or suspend your access to JEX for any and all acts in violation of these Terms of Use, our Privacy Policy, and/or any and all applicable and existing laws, rules and regulations, such as, but not limited to, the following instances:

    i. Your account is in violation of the Terms of Use, Privacy Policy, or any existing laws, rules and regulations;

    ii. Your account is subjected to any governmental proceeding, criminal investigation, litigation, etc.;

    iii. Your use of the services is in connection with any unlawful, illegal or prohibited activity;

    iv. We detect unauthorized access to your account;

    v. We are required to do so pursuant to an Order from any Court, government agency, administrative office or proper authorities; and

    vi. If you request to have your account closed, provided that there is no pending order or transaction on your account.

You further agree that we shall not be liable to you for any permanent or temporary modification, suspension, disablement or termination of your account or access to all or any portion of the services. We shall have the right to keep and use the transaction data or other information related to your account. Should you have any unfinished transaction at the time your account is disabled, suspended or terminated, you hereby authorize us to notify your counterparty about the status of your account. All records of transactions shall be maintained and safely stored by us for five (5) years from the dates of thereof.

You agree, furthermore, that If we receive any notice that the funds held under your account, or any part thereof, are a fruit or product of money laundering, fraud, swindling, theft or any unlawful activity, or otherwise not lawfully possessed by you, we shall put on hold such funds until the dispute is resolved. We shall have no liability

or responsibility for any loss or injury to you or any third person for putting your account on hold and/or for your inability to withdraw funds or execute trades under said circumstances.

Remaining funds after voluntary termination/closure of account by the user.

Once account is closed or disabled, any and all existing and unpaid charges and liabilities to JEX shall be immediately demandable and payable. Upon payment of all outstanding liabilities, the user shall have five (5) business days to withdraw the remaining funds from the account.

Remaining funds after termination/ disablement/ suspension of account due to violation of Terms of Use, Privacy Policy or any existing laws, rules and regulations.

In the event of termination, disablement or suspension of account in violation of these Terms of Use, Privacy Policy, or any existing laws, rules and regulations, JEX shall maintain full custody of the funds in the account and any and all information about the user. Upon order or directive from the Court or any appropriate authority, and pursuant to existing laws, rules and regulations, we reserve the right to disclose and turn over such information to proper authorities.

Dispute Resolution, Venue of Suit, Controlling Law

Notification Requirement

For any complaint, grievance, controversy, claim or concern, it is incumbent upon you to notify us first about the same before resorting to any legal remedy. The purpose of this is to give us a fair chance to properly address your concern and/or to respond, fix and resolve accordingly any and all complaints, grievances, controversies or claims about your use of JEX and our services. In this way, we may avoid exhaustive and expensive dispute resolution and other legal proceedings, and, on the contrary, resolve any and all issues amicably, expeditiously and hassle-free. In this regard, you may reach us through our Customer Support Team at https://support.JuanExchange.com/hc/en-us/requests/new.

You acknowledge, understand and agree that such notification requirement is a condition precedent prior to seeking judicial and other reliefs. Failure to observe such requirement maybe used as ground for the immediate and outright dismissal of your case.

Venue of Suit

In the event judicial recourse is necessitated, the case shall be filed before the proper courts of Pasay City only, being the exclusive venue for any and all actions arising out of or in connection with complaints, grievances, controversies, claims, disputes or concerns about the use of JEX and the services.

Governing Law

These Terms of Use and any and all complaints, grievances, controversies, claims, disputes or concerns about the same and the use of JEX and the services shall be governed by the laws of the Republic of the Philippines to the exclusion of any other laws of other countries.

Miscellaneous Provisions

Privacy Policy

We care about the privacy of our users. You understand and agree that by using JEX, you consent to the collection, use and disclosure of your personally identifiable information, as set forth in our Privacy Policy, and to have such information used, shared, transferred and/or disclosed whenever necessary and required under these Terms of Use and existing laws, rules and regulations.

No Waiver

In any event that we fail to immediately require performance of these Terms of Use, such failure shall not in any way be interpreted as waiver on our part to demand strict observance and compliance with any and all provisions of the Terms of Use and/or to impose the necessary sanction for such violation.

No Financial Advice

We are not your broker, agent or adviser. Thus, you understand and agree that any trade, transaction, dealing and activity through JEX is made by you and based solely on your business judgment and decision. Any and all information provided in JEX’s website or these Terms of Use and the communications between us are not intended and should not be considered or construed as investment, financial, trading or any other sort of advice from us. All trades are to be processed automatically based only on your order instructions and in accordance with the standard procedures of JEX.

You are solely responsible in determining whether or not any investment, strategy or related transaction is appropriate based on your personal investment objectives, financial circumstances and risk tolerance. We do not recommend that any Digital Currency should be bought, earned, sold, held or traded by you. Thus, before making the decision to deal with your Digital Currency, you should conduct your own due diligence and/or consult your financial advisers should you think the same is necessary. We shall not be responsible or liable for the results, effects or consequences of your decisions pertaining to any activity related to your Digital Currency.

Third-Party Website Disclaimer

Any and all links to third-party websites from JEX’s website does not imply endorsement, promotion or recommendation of any product, service or information presented therein. Neither do we warrant or guarantee the accuracy of the information indicated in said links.

Announcements

We encourage all users to regularly check the Announcement Page on our website for all official announcements, news, updates, promotions, etc. We shall not be responsible in any manner for any loss or injury caused by user’s ignorance, negligence or non-observance of the announcements.

Assignment

We reserve the right, privilege and power to assign or transfer any and all of our rights and obligations, in whole or in part, under these Terms of Use without your prior notice, consent or approval.

On the contrary, you may not assign or transfer any right or obligation pertaining to your JEX account or any of your rights or obligations under these Terms of Use without our prior written consent therefor.

Entire Agreement

These Terms of Use constitute the entire agreement between us regarding the use of JEX and supersede any and all prior written or oral arrangements, if any. No usage of trade or other regular practice or method of dealing pertaining to JEX shall be interpreted and used to modify, interpret, supplement or in any way alter these Terms of Use.

Severability

In case one or more of the provisions contained in these Terms of Use shall be declared invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby.

Contact Information

For more information about JEX, you may visit our website at juanexchange.com, or reach us through our Customer Support Department at 878-0889 loc. 402, 403, and 412 or send us an email at juanworld.support@zybitech.com