3.1. To initiate the Exchange Operation, the Client must place the Order.

3.2. After placing the Order, the Client will get a Trade Confirmation and will be invoiced by the Exchange for the full amount of the Order. The Invoice will be delivered to the Client electronically via email provided by him/her and a copy of the Invoice will also be available for download through the Client’s Account.

3.3. The Trade Confirmation will contain the Conversion Estimate and will state the amount of the Trade Commission.

3.4. The Invoice should be paid by the Client by wire transfer in immediately available funds by the close of the Business Day immediately following the date of the Invoice. For purposes of this paragraph, ‘payment’ means the irrevocable debit of the Client’s Euro account with the Client’s bank (credit institution) that maintains such account, for the full amount of the Invoice, based on an irrevocable instruction by Client to such bank to transfer and pay the net amount stated in the Invoice (“Invoiced Amount”) to the Exchange.

3.5. The Invoiced Amount should be paid to the Exchange in full. Payment of all commissions, transfer fees, duties, and other expenses associated with payment of the Invoiced Amount is the Client’s expense and responsibility.

3.6. After receipt of the Invoiced Amount, the Exchange will deduct its Trade Commission from the Invoiced Amount and will use the remaining funds to purchase and deliver the Tokens to the Client’s Account.

3.7. The Client’s payment instructions must include a reference to the Client’s ID. Failure to include such reference may result in delays in (a) processing of the Order by the Exchange and (b) purchase and delivery of the Tokens by the Exchange to the Client and, accordingly, the Client may not receive the Tokens in time or at all, which may result in various losses to the Client.

3.8. The Company has to identify you as a cardholder, an individual who is issued and authorized to use a card, to be compliant with applicable anti-fraud requirements. To prevent fraud and the misuse of funds, the Company needs to ensure that the card used for payment belongs to the Account holder. In the situation where the Company’s staff has a reason to make any additional checks, the staff member may request additional supporting materials from the account holder.

If the amount received by the Exchange according to the Invoice is less than the full Invoiced Amount (“Insufficient Amount”), the Exchange will advise the Client accordingly and the Client may instruct the Exchange (through the Hotline) to amend the Order to be equal to such Insufficient Amount. Such an amendment will not diminish the amount of the Trade Commission established in the Trade Confirmation.

If no such instruction is received within 5 (five) Business Days from the date of receipt of such Insufficient Amount by the Exchange, the Exchange will initiate a remittal of the excess (minus all applicable bank commissions, charges, and duties) by wire transfer to Client.

3.9. If the amount received by the Exchange according to the Invoice is higher than the full Invoiced Amount (“Excessive Amount”), the Exchange will advise the Client accordingly and the Client may instruct the Exchange (through the Hotline) to issue an additional Invoice for the excess. In such case, a separate Trade Commission will apply to such additional Invoice.

If no such instruction is received within 5 (five) Business Days from the date of receipt of such Excessive Amount by the Exchange, the Exchange will initiate a remittal of the excess (minus all applicable bank commissions, charges, and duties) by wire transfer to Client.

3.10. The Conversion Estimate of the Trade communicated to the Client after placement of the Order is indicative and, although we usually intend to fill the Order at the best available Token price, the actual amount of Tokens that may be delivered to the Client according to the Order may vary. This variance is due to several factors such as:

• The purchase of Tokens by Exchange according to the Order only takes place after the Exchange receives the Invoice payment in full.
•  Accordingly, the purchase price (market value) of the Token may go up or down between the time the Client makes the Invoice payment, the time the Exchange receives the Invoice payment, and the time the Exchange purchases and delivers the Tokens to the Client.
• There may be market disruptions, regulatory changes, or other adverse effects on the Tokens and the market for the Tokens which may affect their availability, recording, circulation, value, or deliverability to the Client.

3.11. Please note that in case of a chargeback, we do not return to the Client any sum paid by you as a commission for making the transaction.