1. INTRODUCTORY PROVISIONS
1.1 These Terms of Service (“TOS”) form an indivisible part of CRYPTOCURRENCY EXCHANGE CONTRACT (“Contract”) executed between Limitlex (“Exchanger”) and Merchant.
2. PROCESS OF CRYPTOCURRENCY EXCHANGE
2.1 The process of cryptocurrency exchange as determined herein pertains only to cryptocurrencies that are subject to the Contract.
2.2 Merchant authorizes Exchanger to automatically transfer cryptocurrencies received via Software from Merchant's Wallets to Exchanger at any time during the billing period.
2.3 Upon receipt of Merchant’s cryptocurrencies, Exchanger will execute the exchange and process the settlement by transferring a corresponding amount of Euro currency to Merchant as determined by the Contract.
2.4 The minimum amount of Merchant’s collected cryptocurrencies to be eligible for exchange is in the equivalent of EUR 50.00. Exchange is not executed and settlement not processed until the value of the total cryptocurrencies in the Merchant's Wallets exceeds EUR 50.00.
3. BILLING PERIOD AND SETTLEMENTS
3.1 The regular billing period is set on a weekly basis. Weekly merchant statements are sent to the Merchant’s email address every Monday or next business day if Monday is holiday.
3.2 Settlements are processed no later than two (2) business days after sending the weekly merchant statement to Merchant.
3.3 If the total value of a cryptocurrency in the Merchant's Wallets exceeds EUR 1,000.00 before the end of a current billing period, the settlement is processed in two (2) business days after the day the total value of a cryptocurrency in the Merchant's Wallets exceeded EUR 1,000.00
4.1 Exchanger reserves the right to change any and all provisions of TOS at any time, with 10 day notice sent to Merchant’s email address.
4.2 By continuing to use the Exchanger's services under this Contract, Merchant agrees with TOS as amended.
These Terms apply from 12 Oct 2018