Singapore Digital Exchange Terms of Service
Singapore Digital Exchange Terms of Service
Date of the last revision: 24 April 2018
Welcome to the Singapore Digital Exchange.
Singapore Digital Exchange is a platform service, operated by Byte Power X Pty Ltd ACN 624 458 108 and its associated entities (BytePowerX), enabling its users to exchange their local currency for Cryptocurrency and vice versa by way of trades carried out between users. The service allows users to set up trades by placing orders where they state the exchange rate, payment method (s), and other terms for buying or selling Cryptocurrency. Other users can then reply to these advertisements and the parties can agree to meet to buy Cryptocurrency with cash, or trade directly with online banking or any other available method. In order for a user to sell Cryptocurrency, he or she (seller) must store the Cryptocurrency in a web wallet from where the Cryptocurrency is transferred to the user purchasing the Cryptocurrency (buyer) upon confirmation of the receipt of the trade price by the seller.
All trades on this site are concluded solely between users of the service, and while Singapore Digital Exchange may help in resolving disputes between the parties, it does not itself become a party to such transactions, contracts, or relationships. Singapore Digital Exchange is not a Cryptocurrency marketplace but a service enabling its users to set up markets for peer-to-peer exchange by way of creating advertisements for trades directed to other users.
It is important to us that you, and our other users, have the best possible time while using our site and services, and that when you use this site you are fully aware of your respective legal rights and obligations. For that reason, we have created these Terms of Service as the legally binding terms to govern your use of this site and our services. Please read these Terms of Service carefully before using the site because they affect your legal rights and obligations.
Acceptance and Change of Terms
If you do not agree with any of these Terms of Service, please do not use this site. By using this site or our services you will be deemed to have irrevocably agreed to these terms and conditions. Please note that these Terms of Service may be revised and reissued without notice at any time. You should visit this page regularly, and before engaging in any trades, in particular, to review the current Terms of Service, since your continued use of the site will be deemed as an irrevocable acceptance of any revisions. Notwithstanding the above, we will strive to notify you of any changes to these Terms of Service which significantly affect your rights and obligations. Such notices will be sent to the email address you have provided us through your account settings, and it is your responsibility to keep your contact information up to date.
Services provided by the Singapore Digital Exchange Platform might not be legally allowed in certain jurisdictions. Singapore Digital Exchange operates in the Commonwealth of Australia. Depending on your country of residence and the country you access the Singapore Digital Exchange Platform from, you may not be able to use the Platform or parts of it. By creating an account on the Singapore Digital Exchange Platform, you expressly represent and warrant to Singapore Digital Exchange that you have complied and will continue to comply with all laws of your country of residence and the country where you access the Platform from.
Registration and User Account
To use our services, or to access this site or some of the resources it has to offer, you will be asked to provide registration details in order to register a user account (account) and review and accept these terms and conditions and all associated documents and terms and conditions available on the Singapore Digital Exchange Platform.
To open the account, you must make a minimum initial deposit into your account in the amount and by the method specified in Singapore Digital Exchange’s Deposit Methods (Initial Deposit). By making the Initial Deposit, you acknowledge and agree that Singapore Digital Exchange may deduct any application fee or verification of identity fee specified in Singapore Digital Exchange’s Fees Schedule.
It is a condition of use of this site and our services that all the details you provide are correct, current, and complete. If we believe the details are not correct, current, or complete, we have the right to refuse you access to the site, or any of its resources, and to terminate or suspend your account.
You may only act on your own behalf. Your account may not be used to act as an intermediary or broker for any person or entity.
You may only use your own account to trade on the Singapore Digital Exchange Platform and you may only use one user account at a time for trading. You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes or credentials that you use to access the services. You are not allowed to sell, borrow, share or otherwise make available your account or any detail necessary to access your account to people or entities other than yourself.
Your account must not contain misleading or fraudulent information, including, but not limited to having a non-personal phone number, creating fake reputation information for your account, faking your country of origin, or providing fraudulent identification documents.
We may at any time require you to complete our ID verification process and may also require you to submit additional identification documents to us, our agents, or contractors if we deem it necessary. Failing to complete ID verification will be considered a violation of this Agreement.
With a registered account you can create Cryptocurrency trade advertisements (advertisement or ad or ads) to advertise that you are purchasing or selling Cryptocurrency. You may initiate Cryptocurrency trades (trades) by contacting advertisements created by other users or wait for users to initiate trades with you by contacting ads created by yourself.
By initiating a Cryptocurrency trade you agree to be bound by the terms and conditions of the trade as selected and determined by the advertiser (whether by selecting from options available to advertisements or by any free-form terms and conditions set out by the advertiser under the ‘Terms of Trade’ field) and displayed on the advertisement page. The terms of trade as determined by the advertiser are valid in all cases except when the terms contradict these Terms of Service or are illegal or if both parties of the trade consent to alter the terms of trade.
The price or price equation that is defined in the advertisement must contain any and all fees that the advertiser requires the user initiating the trade to pay. After initiation of a trade the Cryptocurrency price is locked and cannot be changed, or any additional fees added without consent from both parties.
Valid payment details must be provided through the Singapore Digital Exchange Platform only. It is a violation of these Terms of Service to provide payment details through other communication channels.
Orders and Trading
Trading is done by placing orders (order or orders) on the Platform.
By placing an Order through the Platform, you are directing Singapore Digital Exchange to purchase, sell, or trade Cryptocurrency on your behalf. Your account balance will be debited or credited accordingly.
Singapore Digital Exchange will use its best endeavors to fulfill Orders expeditiously, but there may be factors outside of Singapore Digital Exchange’s control, such as issues with third-party websites and platforms, wallets, congestion of the blockchain, or Singapore Digital Exchange moving Cryptocurrency into a secure storage vault or platform. Singapore Digital Exchange is not liable for any direct or indirect losses that result due to such delays in processing orders.
Singapore Digital Exchange may delay, suspend or cancel an Order if Singapore Digital Exchange believes on reasonable grounds that:
The role of the Exchange is to ensure that there is a fair and orderly market for all the products in our exchange. As such, it is our responsibility to monitor any suspicious and/or odd orders or transactions to prevent any potential price manipulation, rigging, round-tripping, and money laundering in our exchange in the interest of all its users. Where necessary, the Exchange has the right and sole discretion to suspend and/or delete accounts that have irregular or suspicious orders or transactions and/or remove such orders and/or reverse such transactions.
It is your responsibility to check your Account and monitor the progress of Orders including any pending, lapsed, or completed orders through your transaction history, and to re-execute any orders that fail.
Cryptocurrency is held in escrow, or trust, during the whole trade process until the seller has confirmed the receipt of payment in full.
Buyers must be able to, upon our request, provide adequate proof of payment for up to 180 days after the trade has been completed.
In cases where we have reason to believe a buyer may be engaging in fraudulent activity, including without limitation where the buyer’s payment is frozen, held, reversed, charged back, or in other ways withheld from the seller, and in particular, if we in these circumstances deem that the buyer is not cooperating to the fullest extent to resolve the issue, we may provide the buyer’s information to the seller for the purposes of recovering the funds and/or preventing or investigating fraudulent activity. The information will be disclosed to the extent we deem it necessary for the afore-mentioned purposes and may include without limitation the buyer’s contact details, log-in and transaction records, and/or any details and records we have obtained about the buyer through our identity verification measures.
Settlement of Trades
Trading that is done in Cryptocurrency on the platform, will be settled on a daily basis.
Once a cryptocurrency trade is completed, and not settled, a further Cryptocurrency trade may be done, using the balance of the Cryptocurrency at the time of the completed trade. The Singapore Digital Exchange Platform will keep track of such trades, which will be settled at the end of the trading day, which shall be 5 PM daily Singapore Standard Time.
When you cash out of Cryptocurrency into Fiat Currency on the Singapore Digital Exchange Platform, you will be cashed out at the Cryptocurrency/Fiat Currency rate applicable at the time of cashing out. Please note that it may take us up to 10 days to convert the Cryptocurrency to Fiat Currency and that we will not be responsible for any fluctuations in Cryptocurrency/Fiat Exchange rate during the cashing-out time period.
Singapore Digital Exchange will list the available Cryptocurrencies (designated Cryptocurrencies) on its platform for trading from time to time and reserves the right to add or remove Cryptocurrencies from the designated Cryptocurrencies at their sole discretion at any time. Singapore Digital Exchange will make reasonable efforts to provide you with prior notice if a Cryptocurrency is to be removed from the designated Cryptocurrencies.
It is possible that, from time to time, prior notice may not be possible due to technical, operational, or legal issues. In the event that a Cryptocurrency is removed from the designated Cryptocurrency, Singapore Digital Exchange will make reasonable efforts to provide you with an option to move the Cryptocurrency to another platform or third-party website.
Singapore Digital Exchange does not warrant or guarantee that particular Cryptocurrencies will be designated Cryptocurrencies at any time.
During periods of market volatility, high volume trades, fast movement, and/or liquidity in the market, the market rate in which you direct Singapore Digital Exchange to buy, sell, or trade Cryptocurrency may be different from the price indicated on the Platform and as such Singapore Digital Exchange may be unable to execute your order. If this is the case Singapore Digital Exchange will return the funds to your account balance.
Singapore Digital Exchange is not liable for any price variation of any Cryptocurrency while processing an order due to market volatility, market or technology disruptions, delays, or any other matters that are caused by things that are outside Singapore Digital Exchange’s control.
Singapore Digital Exchange may reasonably decide not to execute an order if the market rate significantly increases or decreases or in the event of a market disruption or other event that is outside its control. In such cases, Singapore Digital Exchange may cancel your order and return the funds to your account balance.
If you receive, acquire or accumulate any funds in your Account due to an error, glitch, or loophole, Singapore Digital Exchange may take reasonable action to rectify the error, glitch, or loophole, including but not limited to restricting access to or deducting the funds from your account balance. Singapore Digital Exchange will notify you if such an error has occurred and you acknowledge and accept that it is Singapore Digital Exchange’s right to recover the misdirected or misappropriated funds.
Disputes on Cryptocurrency Trades
If the buyer and seller are in disagreement over trade, either party or Singapore Digital Exchange may initiate a dispute. Disputed trades are resolved by Singapore Digital Exchange support staff.
If the seller becomes unresponsive, we will resolve the dispute with the buyer if we are confident that the seller has received valid payment from the buyer. If the buyer is unresponsive, the seller may dispute the trade and we will resolve the dispute with the seller.
After the trade has been released by the seller, canceled by the buyer, or automatically canceled due to not being marked as paid, the trade is considered finished and cannot be disputed, reversed, or altered.
Providing fraudulent information or documents in a dispute or making false claims or otherwise trying to force a certain outcome of a disputed trade is considered a violation of this Agreement. If payment details are provided outside of the Platform, the dispute may be resolved without taking the payment details into consideration.
Exclusion of liability
Singapore Digital Exchange does not guarantee the quality, performance, or fitness for purpose of the Platform or the completeness, accuracy, or currency of statements, representations, and information of others (including without limitation data, reports and analyses) provided via the Platform and Singapore Digital Exchange will not be liable to any person or entity for any direct, indirect, consequential or other loss, damage, liability, claim or expense (however caused, including due to negligence or breach of contract) which may arise out of, or in connection with, the use of the Platform or the use of or reliance on information contained on or linked to the Platform.
The total aggregate financial liability of Singapore Digital Exchange (and each of its associated entities, directors, officers, affiliates, employees, service providers, members, representatives, and agents) to you, whether in contract, tort or statutory liability, or otherwise, is limited to supplying the Platform and trading services again or payment of the cost of having the Platform and trading services supplied again.
Singapore Digital Exchange does not provide any warranty in relation to your use of Singapore Digital Exchange’s Platform and Singapore Digital Exchange does not provide any warranty that the information displayed on the Platform is up-to-date, accurate, or complete. Singapore Digital Exchange’s Platform and Services do not provide information to evaluate whether or not you should invest, use, and trade in Cryptocurrency. Singapore Digital Exchange gives no warranties, guarantees nor does it accept any liability in relation to the statements, representations, and information of others (including without limitation data, reports and analyses) displayed on the Platform. You must independently satisfy yourself as to the information provided through Singapore Digital Exchange’s Platform. You agree to use Singapore Digital Exchange’s Platform at your sole risk and at an ‘as-is basis’.
Singapore Digital Exchange excludes liability arising out of any inability to provide services under these Terms due to changes of law, regulations, or policy, or an event of Force Majeure.
Nothing in these Terms is to be read as purporting to exclude statutory guarantees that cannot be excluded including the Australian Consumer Law.
Monitoring, Suspension, and Termination
We may use automated fraud and risk modeling when assessing the risk associated with your account, your ads, and your trades. If we find your account to pose a fraud risk or a risk to the Platform or our customers, the use of your account and the service may be temporarily limited pending our manual review and/or additional identity verification measures required from you.
Furthermore, we have the right to, at our sole discretion, suspend, limit or terminate the use of your account and/or suspend the use of, hide or remove any advertisements or other material you have submitted to the services, if:
Our above right includes the right to limit access to your account balance for up to 180 days, or even longer if pursuant to a court order or other legal process or obligation, or if you have not completed the additional identity verification measures we have requested from you, or if we have reason to believe that you do not have the right to access or control the account or the Cryptocurrency funds on that account.
If we determine that you have at any previous point in time violated this Agreement or any other agreement that you have entered into with us, we will immediately close, suspend or limit your account and Cryptocurrency balance.
Although we reserve the right to terminate your use of the services immediately and without hearing you in any of the above circumstances, we wish to deal with such situations in a fair and proportionate manner. Depending on our legal and contractual obligations, the urgency of the issue, and the way we decide to balance the interests requiring protection, we will usually strive to inform and hear you before we take actions based on our above-mentioned rights under this Section, particularly if it involves the permanent termination of your account and/or any content or materials associated with it. By using the services, however, you agree and acknowledge that this is not always possible and that we are not in any circumstance liable for any damage, losses, expenses, or harm resulting from the use of our rights under this Section.
You may terminate your account at any time, provided that:
Fees and Pricing
The services are provided to you against fees determined on a per transaction and/or per advertisement basis in accordance with the prices and pricing principles set out on the Singapore Digital Exchange Fee Schedule on the Singapore Digital Exchange Platform from time to time.
The fees payable shall be current as on the Singapore Digital Exchange Platform at the time of the relevant transaction, creation of advertisement, or the fulfillment of any other fee basis. Such fees may include e.g. percentage-based fees for incoming and outgoing transactions or advertisements created and they may be deducted from your wallet balance or deposit. In addition, the fees may include percentage-based fees for merchant invoicing services deducted from the paid invoice amount as well as hourly fees for any custom work you decide to order from us.
Any amounts charged by us will be displayed to you on our site prior to the transaction, submission of the advertisement, or other action or service on which the fee is based. By engaging in or ordering any of the fore-mentioned actions or services you will be deemed to have irrevocably agreed to the applicable pricing.
The buying, selling or trading of Cryptocurrency involves exceptional risk and can lead to substantial losses (up to and including the full loss of monies invested).
The categories of risk fall under the following headings:
Unlike other traditional forms of currency, Cryptocurrency is decentralized and is not backed by a central bank, government, or legal entities. Cryptocurrency is a relatively recent invention and is largely unregulated. However, further laws, policies, and regulations are highly likely in the Cryptocurrency space in the future. Such initiatives may have impacts either in particular countries or globally.
Some cryptocurrencies can be seen as a security and there is little regulation in the market at present. The Securities Exchange Chairman in the United States of America (SEC), Jay Clayton, indicated to Congress on 6 February 2018 that the SEC viewed most ICOs to date as securities, which means that most ICOs that do not comply with the SEC and Australian Securities and Investments Commission (ASIC) requirements for the regulation of securities may find themselves outside of a regulatory framework.
Should a cryptocurrency be seen as a security, then any one of a number of national regulators may move to have that cryptocurrency shut down.
While the ATO holds the view that digital currency is not legal tender, for example, it refers to bitcoin as an asset for capital gains tax (CGT) purposes. At the same time, the ATO states:
‘Digital currency is a method of payment and the consequences of using it as payment are the same as the consequences of using money as payment.’
In the GSTR 2014/3W dated 18 December 2017, the Commissioner of Taxation states:
‘From 1 July 2017, the digital currency will have the equivalent treatment to money and in certain circumstances, supplies of digital currency will be treated as financial supplies.’
There are risks in the hacking of the distributed ledger/blockchain networks and hacking of relatively new electronic cryptocurrency security protocols, and while storage in electronic ‘wallets’ is still being developed, this is mitigated by Singapore Digital Exchange availing itself of the most advanced cryptocurrency ‘wallet’ technology, including cold storage, which is storing cryptocurrency offline and will only introduce tokens if and when they are traded.
The value of Cryptocurrency can and has swung dramatically depending upon the market, the confidence of investors, competing currencies, regulatory announcements or changes, technical problems, security breaches, and other factors.
Before opening an Account on the Platform, you should carefully assess whether the buying, selling or trading of Cryptocurrency is suitable to your financial circumstances and tolerance for risk.
Anti-money laundering, counter-terrorism, and ‘Know your client’ requirements
Singapore Digital Exchange is subject to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) in Australia and in terms hereof is liable to
Supporting Blockchain Forks and Other Cryptocurrencies
From time to time, new and alternative cryptocurrencies and/or forks of the Cryptocurrency blockchain may be created, including in ways that allow persons who have access to a private key holding a Cryptocurrency balance to receive a corresponding amount of the new cryptocurrency on the other blockchain (air-drop). We have the right, in our sole discretion, to decide on whether and how we support new cryptocurrencies and/or blockchain forks in our services, including also, if necessary, the determination of which blockchain shall be deemed as Cryptocurrency within the meaning of this Agreement. In any case, we will strive to communicate our decisions concerning any significant new forks or cryptocurrencies on our Platform reasonably in advance. If we decide not to support a new cryptocurrency, we may decide but are not obligated, to compensate customers who held Cryptocurrency on their account at the time of the air-drop in a manner deemed appropriate by us, such as by converting all of the available new cryptocurrency to Cryptocurrency and sharing all of the converted Cryptocurrency between the users who held a Cryptocurrency balance on their accounts at the time of the creation of the new cryptocurrency. In such cases, we have the right to charge you a processing fee for such conversion in any amount deemed reasonable to us in our sole discretion but not exceeding the amount of compensation payable to you.
If we decide to support a new cryptocurrency, unless otherwise communicated by us, these Terms of Service, including any reference to Cryptocurrency, shall be equally applied to the new cryptocurrency.
In order to handle a blockchain fork in a way that ensures the security and reliability of our services, we may deem it necessary to temporarily suspend the services. In such cases, we will resume the services as soon as reasonably possible at our discretion.
We cannot guarantee that the decisions we take under this Section will be suitable, desirable, or practical for you. If you are concerned about our decisions, stances, or the lack thereof regarding any given blockchain fork or new cryptocurrency, we recommend that you withdraw your balance and handle the situation on your own as you see fit. We are not in any circumstance liable for any damage, losses, expenses, or harm resulting to you from the use of our rights under this Section.
Without limitation, you agree not to, and not to encourage or allow any other user of the services to
Any passwords used for this site are for individual use only. You shall be responsible for the security of your password (if any). Singapore Digital Exchange shall be entitled to monitor the use of your account and your password and, at its discretion, require you to change the password. If you use a password that Singapore Digital Exchange considers insecure, Singapore Digital Exchange will be entitled to require this to be changed and/or terminate or suspend your account. You are prohibited from using any services or facilities provided in connection with this site to compromise security or tamper with system resources and/or accounts. The use or distribution of tools designed for compromising security (e.g. password guessing programs, cracking tools, or network probing tools) is strictly prohibited. If you become involved in any violation of system security, Singapore Digital Exchange reserves the right to release your details to system administrators at other sites in order to assist them in resolving security incidents.
Singapore Digital Exchange reserves the right to investigate suspected violations of these Terms of Service, including without limitation any violation arising from any submission, posting, or e-mails you make or send to any forum on the site. Singapore Digital Exchange may seek to gather information from the user who is suspected of violating these Terms of Service, and from any other user. Singapore Digital Exchange may suspend any users whose conduct or postings are under investigation and may remove such material from its servers as it deems appropriate and without notice.
The materials, information, and opinions included and/or expressed in or on the messages, feedbacks, advertisements, or other pages on this site are not necessarily those of Singapore Digital Exchange or its affiliated or related entities or content providers. Singapore Digital Exchange is not responsible for monitoring or reviewing the messages, feedback,s or advertisements, and the content of the messages, feedbacks or advertisements is not the responsibility of Singapore Digital Exchange. Singapore Digital Exchange may remove or modify any content without notice or liability at any time in its sole discretion. Any use of the messages, feedback, advertisements, or any other content on this site will be at your own risk and will be subject to the disclaimers and limitations on liability set out above.
Submissions, Postings, and Emails
Please act responsibly when using this site. You may only use this site and its contents for lawful purposes and in accordance with applicable law and you are prohibited from storing, distributing, or transmitting any unlawful material through this site. You recognize that storing, distributing, or transmitting unlawful material could expose you to criminal and/or civil liability. You agree that if a third-party claims that material you have contributed to the site is unlawful, you will bear the burden of establishing that it is lawful. You understand and agree that all materials publicly posted (other than by Singapore Digital Exchange) or privately transmitted on or through this site are the sole responsibility of the sender, not Singapore Digital Exchange, and that you are responsible for all material you upload, post or otherwise transmit to or through this site.
We at Singapore Digital Exchange require that you do not post advertisements or submit to or publish through forums or otherwise make available on this Site any content, or act in a way, that:
This site may link you to other sites on the Internet. These sites may contain information or material that some people may find inappropriate or offensive. These other sites are not under the control of Singapore Digital Exchange, and you acknowledge that (whether or not such sites are affiliated in any way with Singapore Digital Exchange) Singapore Digital Exchange is not responsible for the accuracy, copyright compliance, legality, decency, or any other aspect of the content of such sites. The inclusion of such a link does not imply endorsement of any site by Singapore Digital Exchange or any association with its operators.
Singapore Digital Exchange cannot ensure that you will be satisfied with any products or services that you purchase from any third-party site that links to or from Singapore Digital Exchange since other sites/stores are owned and operated by independent web masters/retailers.
How to Contact Us
This site is owned and operated by Byte Power X Pty Ltd ACN 624 458 108. You can contact us at any time via the email link on the Singapore Digital Exchange website. Please send us any questions, requests, general correspondence, or notices under or in connection with this Agreement, by contacting our support. Particularly in the case of sending any notices under this Agreement, please ensure that you have received an acknowledgment from us, which we will aim to send to you within 5 working days of our receipt and should be retained by you.
By using the services, you agree that any notice, disclosure, agreement, or other communication that we deliver to you electronically to the email address you have defined in your account settings will satisfy any legal communication requirements, including that such communications be in writing.
Changes in Service
Singapore Digital Exchange reserves the right to modify or discontinue, temporarily or permanently, all or any part of this site and/or any software, facilities, and services on this site, with or without notice, and/or to establish general guidelines and limitations on their use.
Intellectual Property Rights
You acknowledge and agree that all copyright, trademarks, and all other intellectual property rights in and related to this site and our services shall remain at all times owned by us and/or our licensors. You are permitted to use the site and our services only as expressly authorized by us. We reserve all rights not expressly granted in and to this site, the services, and the content on this site.
Disclaimer of Warranties and Limitation of Liability
This site and the services are provided on an ‘as is’ and ‘as available basis for your information and use without any representation or endorsement. To the maximum extent permitted by applicable law, we make no warranties of any kind, whether express or implied, in relation to the site or the services, including but not limited to, implied warranties of satisfactory quality, fitness for a particular purpose, non-infringement, compatibility, security, accuracy, condition or completeness, or any implied warranty arising from a course of dealing or usage or trade.
To the maximum extent permitted by applicable law, we make no warranty that the site or the services will meet your requirements or will be uninterrupted, timely, secure, or error-free, that defects will be corrected, or that the site or the server which makes it available are free of viruses or bugs or are fully functional, accurate, or reliable. We will not be responsible or liable to you for any loss, destruction, or alteration of content or material as a result of uploading to or downloading from the site.
Notwithstanding any other provision in these Terms of Service, nothing shall limit your rights as a consumer under mandatory provisions of applicable consumer protection legislation.
If and to the maximum extent permitted by applicable law, we will not be liable for:
in any case whether or not such losses were within the contemplation of either of us at the date on which the event giving rise to the loss occurred. Without limitation, you (and not us) assume the entire cost of all necessary servicing, repair or correction, or correction in the event of any such loss or damage arising.
Nothing in these Terms of Service shall exclude or limit our liability based on wilful conduct or gross negligence. If and to the extent applicable law does not allow the above limitations of warranty and liability, such limitations shall not apply to you.
You agree to be fully responsible for (and fully indemnify us against) all claims, liability, damages, losses, costs, and expenses, including legal fees, suffered by us and arising out of or related to any breach of this Agreement by you or any other liabilities incurred by us arising out of your use of the services, or use by any other person accessing the services using your user account, device or internet access account; or your violation of any law or rights of any third party.
Rights of Transfer and Assignment
We may transfer or assign our rights and duties under this Agreement to any party at any time without notice to you, but this will not affect your rights or our obligations under this Agreement. You may not, however, transfer or assign any of your rights and duties under this Agreement to any other party.
Singapore Digital Exchange cannot and does not provide any taxation, financial or legal advice to you. Singapore Digital Exchange recommends that you contact independent professional accountants, financial advisors, and/or lawyers for advice before using the Platform.
It is your sole responsibility to determine and pay any taxes, duties, or other government imposts that apply to any transactions you make through the Platform.
If any part of the provision of this Agreement is deemed unlawful, void, or for any reason is unenforceable, then that provision shall be deemed to be servable from this Agreement and shall not affect the validity and enforceability of any of the remaining provisions of the Agreement.
This Agreement (as amended from time to time) contains the entire agreement and understanding between us in respect of all matters which are referred to herein and supersedes any prior written or oral agreement between us relating to such matters. No oral explanation or oral information given by either of us shall alter the interpretation of this Agreement. You confirm that, in agreeing to accept this Agreement, you have not relied on any representation that is not expressly included herein, and you agree that you shall have no remedy in respect of any misrepresentation which has not become a term of this Agreement. However, nothing in this Agreement purports to exclude liability for any fraudulent statement or act.
You agree that this Agreement and any dispute between you and us shall be governed in all respects by the laws of Australia. Except if prohibited and without limitation to any statutory rights for consumers under applicable consumer protection laws, you agree that all disputes, claims, and proceedings arising out of or relating to the services shall be resolved by the competent courts of Queensland, Australia. However, we shall always have the right to take legal proceedings in the court of competent jurisdiction of your domicile. All claims shall be brought within one (1) year after the claim arises. Failure of either party to exercise in any respect any right under this Agreement shall not be deemed to be a waiver of such right.
The services are controlled and offered by us from Australia. We make no representations that the services are appropriate or available for use in other countries. Users of Singapore Digital Exchange are themselves responsible for making sure they are in compliance with the legislation of the jurisdiction they operate and reside in.