Merchant Terms of Use
TERMS EFFECTIVE ON 8 DECEMBER 2022
These Merchant Terms of Use (the “Terms”) govern the use of the products, services or any other features, technologies or functionalities related to merchant payment acceptance services (the "Acceptance Services") provided by Cryptoluxor (“Cryptoluxor”, “we”, “our”, or “us”) through Cryptoluxor’s website, API or through any other means to you (“Merchant”, “you” or “your”). By using the Acceptance Services, you accept these Terms and agree to be bound by them, confirm that you have read, understood, and accepted all of the provisions contained herein, including, without limitation, Section 18.7, Governing Law; Arbitration; Waiver of Class Action.
1. Our Services
Cryptoluxor is a blockchain/cryptocurrency payment processor that enables you to accept cryptocurrencies as a payment method in exchange for goods or services you sell to your customers (“Shoppers”).
By using the Acceptance Services, you authorize Cryptoluxor to act as your agent and to take any and all actions that we think are necessary or desirable to provide the Acceptance Services and to comply with applicable laws and regulations. Payment by a Shopper to Cryptoluxor is considered the same as payment made directly to you and limits the Shopper's outstanding obligations to the extent of the payment.
2. Contracting Entity and Regulatory Compliance
2.1 Contracting Entity
Unless you are located in one of the countries listed in the next sentence your relationship pursuant to these Terms is with Cryptoluxor, Inc., a Delaware, USA corporation, having its principal offices at 1201 W Peachtree St NW Ste 2625, PMB 91017, Atlanta, Georgia 30309-3499, USA. If you are located in Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland or the United Kingdom your relationship pursuant to these Terms is with Cryptoluxor B.V., a Dutch private company with limited liability, having its registered address at Stadsplateau 7 WTC office 7, 3521 AZ, Utrecht, The Netherlands and registered with the trade register of the Dutch Chamber of Commerce under number 58655891. If you are receiving settlement in Australian Dollars, Canadian Dollars, Great British Pounds, Eurozone Euros (EUR), Mexican Pesos (MXN), New Zealand Dollars (NZD), South African Rand (ZAR), or Swiss Francs (CHF), your relationship pursuant to these Terms may be with Cryptoluxor, Inc. or Cryptoluxor, B.V., depending on settlement preferences of Cryptoluxor and you.
2.2 Our Regulatory Compliance
Cryptoluxor, Inc. is subject to U.S. laws and regulations. This includes the Bank Secrecy Act, the economic and trade sanctions programs administered by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury, the USA PATRIOT Act, and other anti-money laundering (AML) and anti-terrorist financing (ATF) laws. Cryptoluxor, Inc. is also a registered Money Service Business with the Financial Crime Enforcement Network of the U.S. Department of the Treasury (FinCEN) and is a licensed money transmitter in the U.S. states where applicable law requires it to be licensed. As required by applicable laws and regulations, Cryptoluxor, Inc. maintains a comprehensive AML/ATF/Sanctions compliance program.
Cryptoluxor B.V. is subject to applicable Dutch and EU laws and regulations, which includes the Dutch Act on the Prevention of Money Laundering and Terrorism Financing (Wet ter voorkoming van witwassen en financieren van terrorisme (“Wwft”)) and the Dutch Sanctions Act (Sanctiewet 1977) and the regulations promulgated thereunder. Cryptoluxor B.V. is registered with and supervised by the Dutch Central Bank (De Nederlandsche Bank N.V.) pursuant to Section 23b(1) of the Wwft.
3. Representations and Warranties
You represent and warrant that:
The individual accepting these terms on behalf of the Merchant is of the age of majority, and has all necessary power, capacity and authority to bind the Merchant hereto;
You have all necessary right, power, authority and ability to enter into and fulfill your obligations under these Terms and your use of the Acceptance Services;
Your business entity is duly organized, validly exists, is in good standing under the laws of the state and country of its formation, and is duly qualified and in good standing in each jurisdiction in which the conduct of its business requires it to so qualify;
At the time you become bound by these Terms, you are not a consumer (consument) as such term is defined in, and used for the purposes of, the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht) and the Dutch Civil Code (Burgerlijk Wetboek), and you undertake to notify us immediately if at any time you become a consumer. Broadly, in this context, a consumer is an individual acting for purposes other than a trade, business or profession;
Your use of the Acceptance Services will not contravene any applicable international, federal, state or local laws or regulations, including tax laws and regulations;
You ensure that your use of the Acceptance Services does and at all times will comply with all applicable anti-money laundering/anti-terrorist funding compliance laws and regulations, including, without limitation, all OFAC-administered sanctions programs and any other sanctions programs that may apply to you based on the jurisdiction(s) in which you operate your business and serve your customers;
Your use of the Acceptance Services will violate neither these Terms nor any other applicable terms of use; and
All information that you have provided to us, and may from time to time provide to us, is and shall continue to be true and complete, and shall be timely updated and corrected to maintain its status as true and complete.
4. Your Merchant Account (“Account”)
4.1 Account Opening and Registration
Cryptoluxor, Inc. is a regulated financial services business and a licensed money transmitter in the U.S., and Cryptoluxor B.V. is regulated by the Dutch Central Bank pursuant to Section 23b(1) of the Wwft. As such, we are required to collect certain information from Merchants to comply with anti-money laundering and anti-terrorist funding laws and regulations. Therefore, as part of establishing a Cryptoluxor Merchant Account, at a minimum you will be asked to submit business-related information such as name, mailing address, physical address, phone number, email address, information relating to the ultimate beneficial owner(s) or the individual(s) having significant control over the business such as tax identification number and government-issued identification, legal name, fictitious name (i.e. DBA name), company website, bank account details to be used for settlement of transactions made using the Acceptance Services, the nature of your expected transactions, and your field of industry. You may be asked to submit additional information and/or documents to enable us to verify your identity and assess business risk, such as entity formation documentation, compliance program documentation, and information regarding your Shoppers.