Terms & Conditions
(1) NEXT.exchange a trademark of OpenTrader N.V. (i.o.) ,a public limited liability company, incorporated and registered in the Netherlands;
(2) You, agree to represent yourself in whole, herein referred to as the Customer,
The Supplier offers a platform for listing and trading of unregulated commodities (TOKENS) between identified individuals.
The Client wishes to use the Services for its business operations.
IT IS AGREED as follows:
Clause, schedule and paragraph headings shall not affect the interpretation of this Agreement.
A person includes an individual, corporate or unincorporated body (whether or not having separate legal personality) [and that person's legal and personal representatives, successors or permitted assigns].
A reference to a company shall include any company, corporation or other body corporate, wherever and however incorporated or established.
A TOKEN (or COIN) is a 34 character digital sequence (containing characters A-F, 0-9) that represents a uniquely identifiable asset in holding within the platform. This token has redeemable value (where applicable) within the Supplier's service defined during the purchase process.
ICO is the name given to a period allotted as the preliminary release, or issuance, of TOKENS at a predefined price. During this period, the TOKEN value does not change and only transactions involving the Client and End Recipient are allowed. An ICO usually lasts for one calender month (30 days).
KYC or "Know Your Customer" is a process or set of procedures designed to assertain a true identity using government supplied identification and visual verification of likeness to the document of standing.
AML or "Anti-Money Laundering" is a set of procedures, laws and regulations designed to stop the practice of generating income through illegal actions.
This agreement covers the service provided remotely via the "Website" at next.exchange (or other such indicated services). Parts of this document make reference to an Application (or App installed on a mobile device) where applicable.
By accessing or using the Services, you confirm your agreement to be bound by these Terms. If you do not agree to these Terms, you may not access or use the Services. These Terms expressly supersede prior agreements or arrangements with you. NEXT may immediately terminate these Terms or any Services with respect to you, or generally cease offering or deny access to the Services or any portion thereof, at any time for any reason.
NEXT grants you a non-exclusive, non-transferable license to use the software provided, as-is, to access, maintain, add or administer the service on behalf of a organisation that you duly represent or have been given permission to act of behalf of.
NEXT may terminate your access at any time, without cause, explanation or reason if it is discovered, or believes that a breach in the terms and conditions has occurred/will occur by the users actions (intended or otherwise).
You agree to represent yourself in whole. You agree NOT to use the service on behalf of another person.
You may not reverse compile (in part or whole), hack, degrade, cause offence (by intention or neglect) or bring the service into a state of disrepute. Doing so will automatically be interpreted as a breach of these conditions.
The service utilizes a unique session cookie (also on the website) that is used to maintain information regarding the state of the service. Usage of this service requires an active internet connection. Any costs associated to the usage of this application are the Clients responsibility and NEXT may not be held responsible for any incurred costs.
NEXT does not permit the usage of Copyright materials. In the event that you believe your content or that a violation of your mark has taken place, please notify NEXT by email at [email protected]. Note that icons for twitter, facebook, google etc. are provided for artistic reference and do not imply representation or association with the aforementioned (and included) services. NEXT provisions such artistic representations for assistance purposes only.
NEXT makes use of Secure Socket Layering (SSL) and Transport Layer Encryption (TLS) to assist in securing its services. At no time will service be provided without a secured connection.
The Client is permitted to enroll his or her business for consideration to be included with the launch of the NEXT platform on 1/January 2018.
A Client may not enrol a business more than once.
NEXT will undertake a number of checks to verify and validate the enrolment process for all clients and subsequently invite or decline the consideration to be included. Failure in any one of these processes (checks) will result in automatic declination of the consideration process.
The Client is required to service a number of details (requested during the application process) that assist in the preliminary screening of businesses to be considered.
The Client may not offer a TOKEN (or COIN) that enables a profit-share (or similar) component. Doing so will automatically invalidate the consideration process.
The Client may not have raised a cumulative amount of more than 1m euros (gross) via funding or revenue processes. Doing so will automatically invalidate the consideration process.
The Client may not engage in a similar process in raising funding via its own platform or via a third party. The Client also agrees not to engage in the services of a third party platform (or build their own) for raising capital subsequent to any successful consideration for the lifetime of this and any subsequent contract of service.
The Client agrees to accept all TOKENS presented and, unless duly with cause, to redeem the value in form of service, so indicated at presentation to the barer.
The Client may not attempt to bypass the platform or provide alternate payment services to the barer of any TOKEN or COIN whatsoever.
The Client may not substitute the TOKEN (or COIN) in part or whole for a cash equivalent outside of the platform.
The Client licenses the Supplier full rights, privileges (required or otherwise needed) to create, sell and trade TOKENS (or COINS) on its behalf during the Sunrise period in an automated fashion. These rights include the ability to sublicense (to specific trusted third parties), market on behalf of Supplier, advertise and perform such actions to assist in the purchase process.
The Client, during the consideration process, announces the maximum volume (or quantity of TOKENS or COINS) to be issued and the price of each token.
The Supplier makes no warrant or statement (implied or otherwise) that any or all tokens will be purchased via the use of the Suppliers services.