As used herein, “Flitpay or Company” refers to the holding company of Flitpay being Flit IT Services Private Limited (‘Company’), a private limited company incorporated under the laws of India and having its registered office at F-1, 612-612 A, Surya Nagar, Gopalpura, Jaipur - 302015, Rajasthan, India its owners, directors, investors, employees or other related parties.
The Services operated by Company in the name of Flitpay allows buyers (“Buyers”) and sellers (“Sellers”), to buy and sell Bitcoins (for more information on Bitcoins, please refer to http://www.bitcoin.org).
Flitpay also allows all registered users of the Services (“Members”) to:
send and receive Bitcoins from other Flitpay Members or other users of Bitcoin,
purchase and sell Bitcoins, and
use Bitcoins for purchasing voucher codes, Pay mobile bills, DTH bills and similar services.
It is solely your responsibility to determine, collect, report and submit any taxes applicable to the payments you make or receive in connection with the use of Flitpay App and Services to the respective tax authority. Flitpay is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.
3. Identity Verification
Flitpay adopts the following Know Your Customer and Anti-Money Laundering Policy (hereinafter referred to as “KYC and AML Policy”) to ensure that Flitpay App and Services and any future platforms that we might support, are not used to facilitate money laundering or the funding of terrorism or any other criminal activities.
This policy is applicable on all the present as well as prospective Members who uses or wishes to use Flitpay App and Services through proper registration. It lays down the procedure that we follow to collect information and maintaining a record of our Members. It is the duty of Member to comply with this KYC and AML Policy in order to ensure that it does not abuse the relationship with Flitpay for any illegal purposes, including money laundering or other financial crimes. Any action, including those that might not have been foreseen and included in this policy, that has the effect of the abuse as contemplated above shall be restricted under this policy.
Flitpay reserves the right to decline business proposal, at its discretion, with present as well as prospective Members at all times. It is the discretion of Flitpay to suspend or terminate any action in favor of the Member until a reasonable and satisfactory explanation with supporting documents is provided, on suspicion of the Member abusing the relationship as contemplated above.
3.2 Client Verification
Flitpay collects the following basic information from its clients for its records:
FlitPay require its clients to verify their identity by providing scanned copies* of their PAN card** (mandatory)
*Copies should be in color and a good resolution.
** The above document provided by the members shall be kept on the server safely and the Company shall not disclose the same to any third party unless we are mandated to do so under the provisions of any applicable laws.
Flitpay may use your personal information:
To identify you
To process transactions,
To send emails with updates, promotions, company news, and important notices regarding changes to policies as and when required,
Customize, measure, and improve Flitpay App and Services.
To analyze use of Flitpay App and Services.
Prevent potentially prohibited or illegal activities, and
To undertake a verification of your identity with the help of third party electronic identification providers.
3.3 Measures for implementation of KYC and AML policy
Flitpay appoints a competent and qualified employee as an AML and KYC Policy Compliance Person who reviews and updates the KYC and AML Policy to ensure the compliance with all relevant and applicable legislation, regulations and recommendations and monitor compliance of KYC and AML Policy. Flitpay employees would be trained to identify and take action on suspicious transactions through Flitpay App and Services and make regular internal reports on such suspicious transactions. Flitpay would regularly inspect the transactions done through its Services and would report them to relevant supervisory and/or law enforcement authorities. Flitpay reserves the right to determine suspicious and unusual transactions that result into abuse of relationship with Flitpay.
3.4 Changes to KYC and AML Policy
Flitpay reserves the right to change, amend, alter or delete some or all parts of this KYC and AML Policy, include new procedure and exclude existing procedures in this KYC and AML Policy. It is the duty of the Member to keep updated and comply at all times with the KYC and AML Policy as and when updated on the Website.
4. Associated Risks / Risk of using Flitpay Services / Investment Risk
The use of Flitpay App and Services may entail the following risks:
Bitcoin transactions are irreversible. The Bitcoins you buy will be sent to your Flitpay wallet or to the Bitcoin address provided by you. If you lose or delete your bitcoin wallet, you will also lose your Bitcoins in it and the same by any means cannot be restored.
Bitcoin value is volatile and keeps on increasing or decreasing. Bitcoins are subject to high fluctuations in value and may even become valueless. There is an inherent risk that losses will occur as a result of buying, selling or trading in Bitcoins.
Bitcoin, as-yet is a self-governing and largely unregulated worldwide system of value transfer between individuals. It is not backed by any government or central bank backed currencies.
In Bitcoin trading, there is also the risk of loss of confidence which could subside demand relative to supply. For instance, confidence might subside in Bitcoin because of unexpected changes imposed by the software developers, the creation of superior competing alternatives, a deflationary or inflationary spiral, or due to governmental actions. Confidence might also subside because of technical problems, for example, if the anonymity of the system is compromised, or if any entity is able to block any transactions from settling.
Carefully determine whether your financial situation and tolerance for risk is right for buying, selling or trading Bitcoins.
We use our banking service providers only for the receipt of client money and making payments. Our banking service providers do not transfer or exchange Bitcoins. Our banking service providers do not provide any services in connection with Bitcoins.
We do not entertain any Refund or Cancellation under any circumstances.
5. Limited Licence
Unless otherwise specified, all materials on Flitpay App and Services are the property of Flitpay and are protected under copyright, trademark and other applicable laws. You may view, print, and/or download a copy of such Materials on a single computer entirely for your personal, informational, non-commercial use, provided you inviolate all copyright and other proprietary notices.
The trademarks, service marks and logos of Flitpay and others used in Flitpay App and Services (“Trademarks”) are the property of Flitpay and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this website belong to Company. The trademarks and materials should not be copied, modified, reproduced, republished, uploaded, transmitted, collected or distributed in any form or by any means, whether manual or automated. Any unauthorized use of such trademarks and materials may breach copyright, trademark and other applicable laws. This could result in penalties and/or criminal or civil legal actions.
6. Maintenance of Account
We are vigilant in maintaining the security of Flitpay App and Services and it is for your personal and non-commercial use only. By registering with us, you agree to provide Flitpay with current, accurate, and complete information about yourself as prompted by the registration process, and to keep such information updated. You further agree to use only your Flitpay account and not use the account of any other person or assist others in obtaining unauthorized access to any Flitpay account. You further agree that you shall not use Flitpay App and Services in connection with any activity violating any law, statute, ordinance or regulation.
It is your responsibility for keeping the confidentiality of your account information, including your password / PIN, securing your own Bitcoins and for all activity including transactions that are posted to your Account. If there is any suspicious activity related to your Account, we may, but are not obliged, to request additional information from you, including authenticating documents, and to hold any transactions pending our review. You are obligated to comply with these security requests, otherwise, Flitpay, at its sole discretion, may choose to terminate your Account. You are required to notify Flitpay immediately of any unauthorized use of your Account or password, or any other breach of security on ticket.flitpay.in. The membership of a Member who violates these rules may be terminated, and further be also held liable for losses incurred by Company or any user of Flitpay App and Services.
You hereby agree that you shall not use the Website or our Service, in connection with any activity violating any law, statute, ordinance, or regulation. Further, you shall not deposit Bitcoins into your Flitpay wallet that is obtained through illegal activities and you will also not use the Service to perform an illegal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking. The Source of Bitcoins paid to your Flitpay wallet is not known to Flitpay and you hereby agree to ensure that it always comes from legitimate sources. Flitpay only acts as information intermediary as far as your Flitpay wallet is concerned.
For any complaint against Flitpay App and Services, you may set out the cause of your complaint, the manner in which you would like Flitpay to resolve the same and any other relevant information for understanding and resolving your complaints expeditiously.
9. Suspension, Termination and Cancellation
You may terminate this agreement with Flitpay, and close your Account at any time, following the settlement of any pending transactions.
We reserve the rights to cancel unverified Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue Flitpay App and Services. Members agree that Flitpay will not be liable to them or to any third party for termination of their Account or access to the Website.
You hereby agree that the suspension of your Account shall not affect the payment of commissions due for past Transactions. Upon termination, Members will receive any monies owed to them via their registered bank account with Flitpay.
All Flitpay App and Services are provided without warranty of any kind, either express or implied. Flitpay strives to ensure uninterrupted services to its customers. However, it does not give any guarantee for uninterrupted access or against any delay, failure, errors, omissions or loss of transmitted information.
Flitpay may suspend use of Flitpay App and Services for maintenance and will make every effort to give you reasonable notice. You acknowledge that such notice, however, may not be possible in case of an emergency.
11. Investment Advice
12. External Websites and Services
Flitpay App and Services may provide links or other forms of reference to other websites (“External Websites”) or resources over which Flitpay may not have control. Flitpay offers to you such links or references to External Websites with the sole purpose of enhancing your experience of using Flitpay App and Services and Flitpay makes no representations whatsoever about any External Websites which you may access through Flitpay. Flitpay cannot be held responsible for the availability of, and content provided on any External Websites. Flitpay cannot be held responsible for any third party content accessible through the Website, including opinions, advice, statements, prices, activities, and advertisements, and you shall bear all risks associated with the use of such content.
15. Limitation of Liability
Users of Flitpay are responsible for their actions in connection with the use of Flitpay App and Services and their Accounts. Users are also responsible for protecting access information to Flitpay including, but not limited to, usernames, passwords / PIN, and bank account details. Flitpay is not responsible for the outcome, whether positive or negative, of any action performed by any of its users within or related to Flitpay App and Services. Some deposits and withdrawal methods require Flitpay to use personal details of the user including, but not limited to, name, address, email, phone number, and bank account number, IFSC code, etc. and you agree that Flitpay can use this information to facilitate deposits and withdrawals.
Flitpay App and Services is provided on an “as-is”and “as available” and your use of the Services is at your own risk. It is hereby expressly declared that Flitpay offers no warranty of any kind regarding Flitpay App and Services.
19. Force majeure
It is hereby expressly declared that neither Flitpay nor you will be liable for any delay or failure caused by conditions or events beyond the reasonable control of the respective party, including but not limited to any delay or failure due to any act of God, fire, act of terrorists, act of civil or military authorities, civil disturbance, war, strike or other labor dispute, 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 reasonable control of the respective party and the validity and enforceability of any remaining provisions shall not be affected by any such condition.
20. Modification of Terms