Last Revised: January 8, 2023
When this Agreement mentions “Polo,” “we,” “us,” or “our,” it refers to the relevant Polo group entity which is providing the Services. The entity providing Services will generally be determined based on your Country of Residence. Your “Country of Residence” is the jurisdiction associated with your Account as determined by your official identification document and verified residential address.
IF YOU ARE ACCESSING AND USING THE SERVICES ON BEHALF OF A COMPANY (SUCH AS YOUR EMPLOYER) OR OTHER LEGAL ENTITY, YOU REPRESENT AND WARRANT THAT YOU HAVE THE AUTHORITY TO BIND THAT COMPANY OR OTHER LEGAL ENTITY TO THIS AGREEMENT. IN THAT CASE, “YOU” AND “YOUR” WILL REFER TO THAT COMPANY OR OTHER LEGAL ENTITY.
Our Services are not offered to persons who are citizens of, incorporated in, have their registered office in or reside in the United States or any Restricted Territory as defined in Section 39. To the extent such persons use the Services irrespective of the foregoing, they will be deemed to be subject to the terms of this Agreement.
Note that this Agreement uses the term “Digital Assets” to refer to bitcoin, ethereum or any other digital assets, cryptocurrencies, virtual currencies or tokens that are available for purchase and exchange through Pft .
Section 31 of this Agreement governs how this Agreement may be changed over time. The text included in boxes throughout this Agreement is there to help you understand the Agreement but is not part of the Agreement. If after reading this Agreement in its entirety you are still unsure of anything or you have any questions, please feel free to contact Support.
Please print or save a copy of this Agreement for your records.
Your conduct on the Pft platform is subject to the laws, regulations, and rules of any applicable governmental or regulatory authority, including, without limitation, all applicable tax, anti-money laundering (“AML”) and counter-terrorist financing (“CTF”) provisions.
If your country of residence is based within the European Economic Area (“EEA”) and the General Data Protection Regulation (EU) 2016/679 (“GDPR”) applies to our processing of your personal data (within the meaning of GDPR), your representative within the EEA for the purposes of the General Data Protection Regulation (EU) 2016/679 (“GDPR”) is Polo Digital Assets Inc. If your Country of Residence is outside of the EEA, provisions related to the GDPR shall not apply to your use of the Services.
You unequivocally agree and understand that by opening an Account and using the Services in any capacity, you shall act in compliance with and be legally bound by this Agreement and all applicable laws and regulations (including without limitation those stated in this Section 1, where applicable), and failure to do so may result in the suspension of your ability to use the Services or the closure of your Account. For the avoidance of doubt, continued use of your Account, and the receipt of all trading fee discounts and rebates, is conditioned on your continued compliance at all times with this Agreement and all applicable laws and regulations.
You must be at least 18 years old and have not previously been suspended or removed from Pft to enter into this Agreement. By accessing or using Pft , you further represent and warrant that you are not a Restricted Person nor are you a citizen or resident of the United States or a Restricted Territory (each as defined in Section 39 below).
ANY CITIZEN OR RESIDENT OF THE UNITED STATES OR A RESTRICTED TERRITORY IS STRICTLY PROHIBITED FROM ACCESSING OR USING PFT .
You represent and warrant that you will not be using Pft for any illegal activity, including without limitation illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, other violent activities or any prohibited market practices, including without limitation those listed under Section 23.
Notwithstanding the foregoing, Polo may determine not to make the Services, in whole or in part, available in every market, either in its sole discretion or due to legal or regulatory requirements, depending on the User’s location.
When registering your Account, you must provide current, complete, and accurate information for all required elements on the registration page. You are the only person authorized to use your Account and you may not share your Account credentials with any other person. You also agree to provide us, when registering an Account and on an ongoing basis, with any additional information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including without limitation a copy of your government issued photo ID or evidence of residency such as a lease or utility bill. You permit us to keep a record of such information and authorise us to make the inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you, our other users, and/or us against fraud or other financial crime, and to take action we deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.
In certain circumstances, we may require you to submit additional information about yourself or your business, provide records, and complete other verification steps (such process, “Enhanced Due Diligence”).
You represent and warrant that any and all information provided to us pursuant to this Agreement or otherwise is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible.
From time to time we may be required to request further information regarding your transactions in order to comply with applicable law and regulation and our own policies. Failure to provide such information in a timely fashion may result in the suspension of your ability to use the Services (until you provide such information) or the closure of your Account.
Our AML and CTF procedures are guided by all applicable rules and regulations regarding AML and CTF. These standards are designed to prevent the use of the Pft platform for money laundering or terrorist financing activities. We take compliance seriously and it is our policy to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing or any other financial crimes.
Pft Users may acquire Digital Assets directly using fiat currency through Simplex. you can send purchased Digital Assets to the applicable address provided by Pft and wait for the balance to appear in your Account. Alternatively, if you already own Digital Assets, you may send Digital Assets you already own to the applicable address provided by Pft and wait for the balance to appear in your Account. It is your responsibility to ensure you send the Digital Assets to the correct address provided for that particular Digital Asset, else your funds may never be recovered.
You acknowledge and agree that certain Digital Assets require a minimum amount for deposits. Deposits below the minimum may not be visible in your Account. You understand that you will be required to meet minimum deposit amounts in order to trade and to be able to withdraw these funds.
If you send a Digital Asset to a Pft address that is unable to receive that specific Digital Asset, or if you make any typos or inaccuracies in the wallet address, such Digital Asset may be lost forever. If you send a Digital Asset from your Pft account to an external address that does not correspond to that exact Digital Asset, or if you make any typos or inaccuracies in such wallet address, such Digital Asset may be lost forever. You assume all liability for any losses incurred as a result of sending a Digital Asset to an incorrect or non-compatible address.
Polo makes no representations or warranties regarding the length of time that may be required to complete the transfer of your Digital Assets from a third party wallet or other source until these Digital Assets become available to you in your Account.
When you elect to transfer Digital Assets from your Account to a third party wallet or other location, it is always possible the party administering the new location may reject your transfer or that the transfer may fail due to technical or other issues affecting our platform. You agree that you shall not hold Polo liable for any damages arising from a rejected transfer.
By entering into this Agreement, you agree to receive electronic communications and notifications in accordance with our E-Sign Consent Policy.
Printing and mailing correspondence, disclosures, and account statements takes time and money, so we like to handle these matters electronically.
This Agreement is provided to you in English. We will communicate with you in English for all matters related to your use of our Services. Where we have provided you with a translation of the English language version of this Agreement, you agree that the translation is provided for your convenience only and that the English language version of the Agreement will govern your use of the Services.
You are responsible for maintaining the confidentiality and security of any and all account names, User IDs, passwords and any other security feature that you use to access the Services. You are responsible for (i) keeping your email address up to date in your Account profile and (ii) maintaining the confidentiality of your User information and the security of your Account, which includes the enabling of all relevant security features. You agree to notify Polo immediately if you become aware of any unauthorized use of the Services or any other breach of security regarding the Services. Polo will not be liable for any loss or damage arising from your failure to protect your Account or your User information.
We shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We advise the regular use of a reliable virus and malware screening and prevention software. If you question the authenticity of a communication purporting to be from Polo, you should login to your Account through the Pft website (PFT.exchange) (the “Site”) or via the App, not by clicking links contained in emails.
We use reasonable efforts to protect your Account, and we need you to do the same. It is important that you always protect not only your password but also the email account associated with your Account and any device used to access your Account. We strongly advise you to enable two-factor authentication: this offers you greater protection from possible attackers attempting to log in to your Account than password alone and in situations where your email and/or password is compromised by a third party data breach.
Subject to your compliance with this Agreement and any other agreement which may be in place between you and Polo related to your use of the API, Polo hereby grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license, to use the API solely for the purposes of trading on Pft . You agree not to use the API or data provided through the API for any other commercial purpose. You access and use the API entirely at your own risk, and Polo will not be responsible for any actions you take based on the API.
Polo may, at its sole discretion, set limits on the number of API calls that you can make, for example, to maintain market stability and integrity. You acknowledge and agree that if you exceed these limits, Polo may moderate your activity or cease offering you access to the API (or any other API offered by the Polo group), each in its sole discretion. Polo may immediately suspend or terminate your access to the API without notice if it believes you are in violation of the terms of this Agreement (including, without limitation, Section 23) or any other agreement which may be in place between you and Polo related to your use of the API.
We may, in our sole and absolute discretion, without liability to you or any third party, refuse to let you open an Account, suspend your Account, consolidate Accounts if you have more than one or terminate your Account or your use of one or more of the Services. Such actions may be taken as a result of one or more of a number of factors, including without limitation account inactivity, failure to respond to customer support requests, failure to provide positive identification, a court order or your violation of the terms of this Agreement (including without limitation Section 23). Polo may also temporarily suspend access to your Account in the event that a technical problem causes a system outage or Account errors until the problem is resolved. If you do not accept the terms and conditions of this Agreement, we may, in our sole and absolute discretion, without liability to you or any third party, temporarily or permanently suspend your Account, or terminate your Account or your use of one or more of the Services.
You may terminate this Agreement at any time by closing your Account in accordance with this Agreement. In order to do so, you should contact Support who will assist you in closing your Account. You should also contact Support if you are seeking to close an Account on behalf of a deceased User. You may not close an Account if Polo determines, in its sole discretion, that such closure is being performed in an effort to evade a legal or regulatory investigation or to avoid paying any amounts otherwise due to Polo.
We encourage you to withdraw any remaining balance of Digital Assets prior to issuing a request to close your Account. We will be unable to close your Account at your request unless you have withdrawn your remaining balance of Digital Assets. We reserve the right to restrict or refuse to permit withdrawals from your Account if (i) your Account has otherwise been suspended or closed by Polo in accordance with this Agreement; (ii) to do so would be prohibited by law or a court order or we have determined that the Digital Assets were obtained fraudulently; or (iii) you have not undergone the required identity verification procedure such that your identity has been verified, as indicated by your Account.
You can check whether or not your Account has been verified by reviewing your verification status under the “My Profile” section of your Account.
Upon closure or suspension of your Account, you authorize Polo to cancel or suspend pending transactions.
In the event that you or Polo terminates this Agreement or your access to the Services, or deactivates or cancels your Account, you remain liable for all activity conducted with or in connection with your Account while it was open and for all amounts due hereunder.
We reserve the right to maintain your account registration and trading information, after you close your Account, for business and regulatory compliance purposes, for a period no less than 7 years, subject to applicable laws and regulations.
The following list of risks associated with Digital Assets and the Services is not exhaustive.
Polo provides an execution-only service and does not advise on the merits of any particular transactions, trading risk or their tax consequences, and Polo does not provide any other financial, investment or legal advice in connection with the Services. To the extent that we or our representatives do provide trading recommendations, market commentary, or any other information, the act of doing so is incidental to your relationship with us and such information may not be considered as investment or financial advice and should not be construed as such. Any decision to buy or sell Digital Assets is the User’s decision and Polo will not be liable for any loss suffered.
You accept the risk of trading Digital Assets. In entering into any transaction on Pft , you represent that you have been, are, and will be solely responsible for making your own independent appraisal and investigations into the risks of the transaction and the underlying Digital Asset. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any transaction or any underlying Digital Asset.
Digital Assets and transfers
Trading Digital Assets can be extremely risky. Each Digital Asset has unique features that make it more or less likely to fluctuate in value. In addition, factors beyond Polo’s control may affect market liquidity for a particular Digital Asset, such as regulatory activity, market manipulation, or price volatility. Blockchain networks may go offline as a result of bugs, Forks (defined below), or a number of other unforeseeable reasons. As a general matter, we advise Users with limited trading experience and low risk tolerance not to engage in active trading. Speculating on the value of Digital Assets is high risk and Users should never trade more than they can afford to lose.
Understanding Digital Assets requires advanced technical knowledge. Digital Assets are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer science in order to appreciate inherent risks. Listing of a Digital Asset on Pft does not indicate approval or disapproval of the underlying technology regarding any Digital Asset and should not be used as a substitute for your own understanding of the risks specific to each Digital Asset. We give you no warranty as to the suitability of the Digital Asset traded under this Agreement and assume no fiduciary duty in our relations with you.
Users accept all consequences of sending Digital Assets to an address off our platform. Digital Asset transactions may not be reversible. Once you send Digital Assets to an address, you accept the risk that you may lose access to your Digital Assets indefinitely. For example, an address may have been entered incorrectly and the true owner of the address may never be discovered, or an address may belong to an entity that will not return your Digital Assets, or an address belongs to an entity that may return your Digital Assets but first requires action on your part, such as verification of your identity.
Supply and value of Digital Assets
The ability for you to purchase Digital Assets using Pft is contingent on there being a counterparty willing to sell the same Digital Asset, which is outside of Polo’s control. Polo makes no promises as to the timing or availability of the ability to purchase Digital Assets via the platform.
The value of Digital Assets may be derived from the continued willingness of market participants to exchange Digital Assets for Digital Assets, which may result in the potential for permanent and total loss of value of a particular Digital Asset should the market for that Digital Asset disappear.
You acknowledge and agree that Digital Assets and/or Pft features available in one jurisdiction may not be available for trading or to access, as applicable, in another.
Software protocols and operational challenges
The software protocols that underlie Digital Assets are typically open source projects, which means that (i) the development and control of such Digital Assets is outside of Polo’s control and (ii) such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of a given Digital Asset.
You are aware of and accept the risk of operational challenges. Pft may experience sophisticated cyber attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Services. You understand that the Services may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold Polo accountable for any related losses.
You are responsible for complying with applicable law. You agree that Polo is not responsible for determining whether or which laws may apply to your transactions, including tax laws. You are solely responsible for reporting and paying any taxes arising from your use of the Services.
Legislative and regulatory changes
Legislative and regulatory changes or actions at the state, federal, national or international level may adversely affect the use, transfer, exchange, and value of Digital Assets.
No deposit protection
Digital Assets held in your Account are not subject to deposit insurance protection, including without limitation, the Federal Deposit Insurance Corporation insurance or Securities Investor Protection Corporation protections or any equivalent schemes outside of the United States.
Certain Digital Assets are built on protocols that support staking. If you hold these Digital Assets in your Account, Polo may stake these Digital Assets on your behalf. Staking subjects your Digital Assets to additional risks. Polo is not responsible for losses you may incur related to staking.
As a result of the decentralized and open source nature of Digital Assets it is possible that sudden, unexpected, or controversial changes (“Forks”) can be made to any Digital Asset that may change the usability, functions, value or even name of a given Digital Asset. Such Forks may result in multiple versions of a Digital Asset and could lead to the dominance of one or more such versions of a Digital Asset (each a “Dominant Digital Asset”) and the partial or total abandonment or loss of value of any other versions of such Digital Asset (each a “Non-Dominant Digital Asset”).
Polo is under no obligation to support a Fork of a Digital Asset that you hold in your Account, whether or not any resulting version of such forked Digital Asset is a Dominant Digital Asset or Non-Dominant Digital Asset or holds value at or following such Fork. If Polo elects, in its sole discretion, to support a Fork of a Digital Asset, it will make a public announcement through its Site and/or the App and/or by notifying customers via email, and shall bear no liability for any real or potential losses that may result based on the decision to support such Fork or the timing of implementation of support. If Polo, in its sole discretion, does not elect to support a Fork of a given Digital Asset, including the determination to support, continue to support, or cease to support any Dominant Digital Asset or Non-Dominant Digital Asset, Polo assumes no responsibility or liability whatsoever for any losses or other issues that might arise from an unsupported Fork of a Digital Asset.
Forks of Digital Assets can be frequent, contentious and unpredictable, and therefore cannot be consistently supported on Pft . When trading or holding Digital Assets using your Account you should operate under the assumption that Pft will never support any Fork of the supported Digital Asset.
Polo also does not generally support any other distributions, dividends, or “airdrops” of Digital Assets to wallet addresses (collectively, “Airdrops”) regardless of whether or not you would have received such Airdrops if you held your Digital Assets outside of Pft . Polo may, at its sole discretion, elect to distribute and/or support an Airdrop, but it has no obligation to do so and shall bear no liability to Users for failing to do so. If we do not support an Airdrop, we will not claim such Airdrop for our own benefit (unless it is unavoidable or impractical to avoid based on the means of distribution).
Certain Digital Assets are built to operate on the Ethereum or other protocols or are distributed to holders of Ethereum or other protocols without any action required by the User. As a general rule, Pft does not support Forks or Airdrops, but will notify Users if it intends to support a specific Fork, Airdrop, or other distribution or creation of a Digital Asset.
Note that in the event of a Fork of a Digital Asset, Polo may be forced to suspend all activities relating to such Digital Asset (including trading, depositing, and withdrawing) on Pft for an extended period of time until Polo has determined in its sole discretion that such functionality can be restored (“Downtime”). This Downtime will likely occur immediately upon a Fork of a given Digital Asset, potentially with little to no warning, and during this period of Downtime you will not be able to trade, deposit, or withdraw the Digital Asset subject to such Fork.
Polo does not have any ability to prevent or mitigate attacks on blockchain networks. Polo reserves the right to take the following commercially reasonable actions in the event of an attack: (i) if we are able to confirm that a Digital Asset active on Pft been compromised or is under attack, we may immediately halt trading, deposits, and withdrawals for such Digital Asset; (ii) if it is determined that such an attack caused the Digital Asset to greatly decrease in value, we may discontinue trade activity in such Digital Asset entirely. Polo does not have any obligation to engage in activity in relation to attacks on blockchain networks.
Resolutions concerning deposits, withdrawals and User balances for an attacked Digital Asset will be determined on a case-by-case basis by Polo in its sole discretion. Polo makes no representation and does not warrant the safety of Pft and you assume all liability for any lost value or stolen property.
This section applies only to the extent you are permitted to engage in margin trading on the platform. Margin trading is prohibited in certain jurisdictions and you may not be able to engage in margin trading on the platform: you should refer to the Site for further details. Polo reserves the right to amend and/or remove margin trading functionality in your Country of Residence. You will receive reasonable advance notice of any such change.
Margin trading on Pft is HIGH RISK. As a borrower, you may sustain a total loss of Digital Assets or owe Digital Assets beyond what you have deposited to your Account. The high volatility and substantial risk of illiquidity in markets means that you may not always be able to liquidate your position. You agree to maintain a sufficient amount of Digital Assets at all times to meet Polo’s minimum balance requirements, as such requirements may be modified from time to time. If the value of the assets in your Account falls below the minimum balance requirement or Polo determines, at its sole discretion, that your Account appears to be in danger of defaulting on a loan, Polo may seize and liquidate any or all of your positions and assets on any balance in your Account in order to settle your debt to other Users. If, after your positions and assets are liquidated, your Account still contains insufficient Digital Assets to settle your debts to other Users, you will be responsible for any additional Digital Assets owed. Intentionally defaulting on a loan may result in Polo reporting your activities to authorities and/or in legal prosecution.
Polo may, in its sole discretion, perform measures to mitigate potential losses to you on your behalf, including, but not limited to, transferring balances from your margin to your exchange Account and/or from your exchange to your margin Account if, prior to any such transfer, any of your margin balance is a Digital Asset that Polo plans to delist from Pft in accordance with Section 25.
When you lend Digital Assets to other Users, you risk the loss of an unpaid principal if the borrower defaults on a loan and liquidation of the borrower’s Account fails to raise sufficient Digital Assets to cover the borrower’s debt. Although Polo takes several precautions to prevent borrowing Users from defaulting on loans, the high volatility and substantial risk of illiquidity in markets means that Polo cannot make any guarantees to any Users using the Services against default.
Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, if there is insufficient liquidity in the market or due to technical issues on our platform. Placing contingent orders, such as “stop-loss” or “stop-limit” orders, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders. The use of leverage can work against you as well as for you and can lead to large losses as well as gains. All Users understand that the technology underlying Digital Assets is subject to change at any time, and such changes may affect your assets stored on our platform. You claim full responsibility for monitoring such technological changes and understanding their consequences for your Digital Assets. Users conduct all trading, margin trading, lending, and/or borrowing on their own account and Polo does not take any responsibility for any loss or damage incurred as a result of your use of any Services or your failure to understand the risks involved associated with Digital Assets use generally or your use of our Services.
This Section applies only to the extent that you trade in leveraged or futures products on Pft . Leveraged and futures trading is prohibited in certain jurisdictions and you may not be able to engage in margin trading on the Pft platform. Please refer to the Site for further details. Polo reserves the right to amend and/or remove leveraged and futures trading for any Users at any time in its sole discretion. You will receive reasonable advance notice of any such change.
Trading in leveraged and futures products is HIGH RISK. The market price of any leveraged or futures product does not reflect the price of spot markets in the applicable underlying assets, and fluctuates significantly in response to the value of the underlying asset’s price, supply and demand, and other market factors. For instance, a small price decrease on a 100x leveraged product’s underlying digital asset could result in 100x loss in your leveraged position in the product. Further, leveraged products that target an inverse return will lose money when the price of the Digital Asset rises, a result that is opposite from holding the underlying asset. Under certain market conditions, particularly given the high volatility and illiquidity in cryptocurrency derivatives markets, you may find it difficult or impossible to close out a position. Placing contingent orders, such as “stop-loss” or “stop-limit” order, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.
As such, leveraged and futures products can lead to significant losses in a short period of time arising from relatively small market movements. They are complex financial derivatives which use leverage extensively, which entails significant risk, and which require initial and ongoing posting of collateral to ensure margin requirements are met. As such, leveraged and futures products are not suitable for all Users. It is designed to be utilized only by highly sophisticated Users, such as active traders employing dynamic strategies. Use extreme caution when trading these assets and trade them only if you understand how they work, including but not limited to the risks associated with the use of leverage, the consequences of seeking daily leveraged investment results, the risk of shorting, and the effect of compounding and market volatility risks on leveraged products. You may sustain a total loss of the initial margin funds and any additional funds deposited into your account on the Pft platform to maintain your positions. If the market moves against your position or margin levels increase, your position will be liquidated, and you will lose all of your funds.
USERS WHO DO NOT UNDERSTAND LEVERAGED TRADING, OR DO NOT INTEND TO ACTIVELY MANAGE THEIR PORTFOLIO, SHOULD NOT ENGAGE IN LEVERAGED OR FUTURES TRADING.
By trading in leveraged or futures products on the Pft platform, you acknowledge and agree that you have sufficient investment knowledge, financial expertise, and experience and the capacity to take on the increased risks arising from leveraged and futures trading. You further agree to independently assume all the risks arising from conducting leveraged and futures trading in your own account.
PFT DOES NOT TAKE ANY RESPONSIBILITY WHATSOEVER FOR ANY LOSSES OR DAMAGE INCURRED AS A RESULT OF YOUR USE OF ANY LEVERAGED OR FUTURES TRADING SERVICES OFFERED ON THE PFT PLATFORM OR YOUR FAILURE TO UNDERSTAND THE RISKS ASSOCIATED WITH LEVERAGED OR FUTURES TRADING.
YOU AGREE AND HEREBY AUTHORIZE POLO TO TAKE ANY MEASURES IN ITS SOLE DISCRETION, INCLUDING BUT NOT LIMITED TO, FORCED POSITION REDUCTION AND LIQUIDATION UNDER MARKET VOLATILITY, ILLIQUIDITY AND OTHER CIRCUMSTANCES, FOR THE PURPOSES OF PROTECTING USERS AND THE PFT PLATFORM.
You further agree to maintain in your Pft account a sufficient amount of assets to meet any margin requirements imposed by Pft with respect to leveraged and futures trading activities. For instance, if movements in the markets for a futures contract decrease the value of your position, you may be required to have or make additional collateral available as margin. Failure to maintain a sufficient amount of assets can result in the forced liquidation of digital assets in your account. Under volatile, illiquid or other market circumstances, the forced liquidation of digital assets in your account can occur without any notification. If the net asset value of your account falls below maintenance margin requirements, the digital assets in your account will be subject to forced liquidation to cover the margin deficiency. You also will be responsible for any shortfall in the account after such a sale. In the event where the market continues moving against open leveraged positions, the distress positions in your account can be liquidated and/or sold by transferring to backstop liquidity providers on the Pft platform through an auto-deleveraging process.
Leveraged and futures products may incur high portfolio turnover and rebalancing to manage the exposure to the underlying digital asset. High levels of transactions increase transaction costs. Each of these factors could have a significant negative impact on the performance of a leveraged or futures product.
From time to time, Polo may offer, enable or list for trading certain Digital Assets that may not be withdrawn by any Users from Pft (such assets, “Non-Withdrawable Assets”). You acknowledge, understand and agree that by buying, selling or otherwise trading in Non-Withdrawable Assets on Pft , you have no right whatsoever to withdraw, obtain or otherwise receive such Non-Withdrawal Assets from Pft or any third party. The trading of Non-Withdrawable Assets is solely for price discovery purposes and grants you no rights to the underlying Digital Assets. In addition, Polo may add or remove any Non-Withdrawable Assets, or convert a Non-Withdrawable Asset into a Digital Asset that can be withdrawn from Pft , at any time in its sole discretion. In the event that any Non-Withdrawable Asset is removed or converted into a Digital Asset that may be withdrawn from Pft , your sole remedy shall be limited, at Pft ’s option, to (a) payment of the fair market value of such Non-Withdrawable Assets at the time of such removal or conversion, or (b) permitting you to receive that number of Non-Withdrawable Assets held within your Account at the time of such removal or conversion.
We reserve the right to change, suspend, or discontinue any aspect of the Services at any time and in any jurisdiction, including hours of operation or availability of any feature, without notice and without liability. We may decline to process any order and may limit or suspend your use of one or more Services at any time, in our sole discretion. Suspension of your use of any of the Services will not affect your rights and obligations pursuant to this Agreement. We may, in our sole discretion, decline to process orders if (i) we believe the transaction is suspicious; (ii) the transaction may involve fraud or misconduct; (iii) it violates applicable laws; or (vi) it violates the terms of this Agreement. Where permitted by law, we will notify you by the end of the business day if we have suspended processing your orders and, if possible, provide our reasons for doing so and anything you can do to correct any errors leading to the stoppage.
In consideration for the use of the Services, you agree to pay Polo the fees for completed trades, as set forth in our fee schedule displayed on the Site (“Fee Schedule”), which Polo may revise or update in its sole discretion from time to time. On request, Polo may make available an alternative fee schedule (“Alternative Fee Schedule”) to Users who satisfy certain criteria (such as in relation to trading volume), which are determined by Polo in its sole discretion from time to time. You authorize Polo to deduct any applicable fees from your Account at the time you make a given transaction. Changes to the fee schedule or Alternative Fee Schedule are effective as of the date set forth in any revision and will apply prospectively from that date forward.
You agree at all times to maintain a sufficient balance in your Account to meet any relevant withdrawal fees. We reserve the right to refuse to facilitate withdrawals of Digital Assets which fall below any applicable withdrawal fee.
Pft does not, as a general rule, participate in promotions without an official announcement, either on the Site, the App or elsewhere. You shall obtain prior written approval prior to releasing any statements, written media releases, public announcements and public disclosures, including promotional or marketing materials, relating to Pft .
If you believe anything on the Site or on the App infringes upon any copyright which you own or control, you may file a notification of such infringement with our designated agent as set forth below.
Polo Digital Assets Inc.
Dresdner Tower, 11th Floor, 50th street & 55th street, Obarrio, Bella Vista, City of Panama,
Republic of Panama
Attn: Copyright Agent
Please see 17 U.S.C. § 512(c)(3) for the requirements of a proper notification. You should note that if you knowingly misrepresent in your notification that the material or activity is infringing, you will be liable for any damages, including costs and attorneys’ fees, incurred by us or the alleged infringer as the result of our relying upon such misrepresentation in removing or disabling access to the material or activity claimed to be infringing.
If you have a dispute with Polo (a “Complaint”), you agree to contact Polo through our support team to attempt to resolve any such dispute amicably. If we cannot resolve the dispute through the Polo support team (“Polo Support”), you and we agree to use the Formal Complaint Process set forth below. You agree to use this process before filing any arbitration claim or small claims action. If you do not follow the procedures set out in this Section before filing an arbitration claim or suit in small claims court, we shall have the right to ask the arbitrator or small claims court to dismiss your filing unless and until you complete the following steps.
We will acknowledge receipt of your Complaint form after you submit it. A Polo customer relations agent ("Agent") will review your Complaint. The Agent will evaluate your Complaint based on the information you have provided and information in the possession of Polo. Within 15 business days of our receipt of your Complaint form, the Agent will address the issues raised in your Complaint form by sending you an e-mail ("Resolution Notice") in which the Agent will: (i) offer to resolve your complaint in the way you requested; (ii) make a determination rejecting your Complaint and set out the reasons for the rejection; or (iii) offer to resolve your Complaint with an alternative solution. In exceptional circumstances, if the Agent is unable to respond to your Complaint within 15 business days for reasons beyond Polo's control, the Agent will send you a communication indicating the reasons for any delay in answering your Complaint, and specifying the deadline by which the Agent will respond to your Complaint, which will be no later than 35 business days from our receipt of your Complaint form.
If we cannot resolve the dispute through the Formal Complaint Process, you and we agree that any dispute arising out of or relating to this Agreement or the Services, including, without limitation, federal and state statutory claims, common law claims, and those based in contract, tort, fraud, misrepresentation, or any other legal theory, shall be resolved through binding arbitration, on an individual basis (the “Arbitration Agreement”). Subject to applicable jurisdictional requirements, you may elect to pursue your claim in your local small claims court rather than through arbitration so long as your matter remains in small claims court and proceeds only on an individual (non-class and non-representative) basis. Arbitration shall be conducted in accordance with the American Arbitration Association's rules for arbitration of consumer-related disputes (accessible at https://www.adr.org/sites/default/files/Consumer%20Rules.pdf).
This Arbitration Agreement includes, without limitation, disputes arising out of or related to the interpretation or application of the Arbitration Agreement, including the enforceability, revocability, scope, or validity of the Arbitration Agreement or any portion of the Arbitration Agreement. All such matters shall be decided by an arbitrator and not by a court or judge.
CLASS ACTION WAIVER: TO THE EXTENT PERMISSIBLE BY LAW, ALL CLAIMS MUST BE BROUGHT IN A PARTY’S INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE ACTION, OR REPRESENTATIVE PROCEEDING (COLLECTIVELY “CLASS ACTION WAIVER”). THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON'S CLAIMS OR ENGAGE IN ANY CLASS ARBITRATION. YOU ACKNOWLEDGE THAT, BY AGREEING TO THESE TERMS, YOU AND POLO ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION.
The arbitration will be conducted by a single, neutral arbitrator and shall take place in the county or parish in which you reside, or another mutually agreeable location, in the English language. The arbitrator may award any relief that a court of competent jurisdiction could award and the arbitral decision may be enforced in any court. An arbitrator’s decision and judgment thereon will not have a precedential or collateral estoppel effect. At your request, hearings may be conducted in person or by telephone and the arbitrator may provide for submitting and determining motions on briefs, without oral hearings. To the extent permitted by law, the prevailing party in any action or proceeding to enforce this Agreement, any arbitration pursuant to this Agreement, or any small claims action shall be entitled to costs and attorneys' fees. If the arbitrator or arbitration administrator would impose filing fees or other administrative costs on you, we will reimburse you, upon request, to the extent such fees or costs would exceed those that you would otherwise have to pay if you were proceeding instead in a court. We will also pay additional fees or costs if required to do so by the arbitration administrator's rules or applicable law.
You acknowledge and agree that any materials, including without limitation questions, comments, feedback, suggestions, ideas, plans, notes, drawings, original or creative materials or other information or commentary you provide on our platform or one of our social media accounts, regarding Polo or the Services (collectively, “Feedback”) that are provided by you, whether by email, posting to the Site, provided via the App or otherwise, are non-confidential and will become the sole property of Polo. Polo will own exclusive rights, including all intellectual property rights, and will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you.
In connection with your use of the Services, you will not:
- violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to be a member through your use of the Services;
- provide false, inaccurate, incomplete or misleading information;
- infringe upon Polo's or any third party's copyright, patent, trademark, or intellectual property rights;
- engage in any illegal activity, including without limitation illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, other violent activities or any prohibited market practices;
- distribute unsolicited or unauthorized advertising or promotional material, written media releases, public announcements and public disclosures, junk mail, spam or chain letters;
- use a web crawler or similar technique to access our Services or to extract data;
- reverse engineer or disassemble any aspect of the Site, the API, the App or the Services in an effort to access any source code, underlying ideas and concepts and algorithms;
- perform any vulnerability, penetration or similar testing on the API;
- take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data or information;
- transmit or upload any material to the Site or the App that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs;
- otherwise attempt to gain unauthorized access to or use of the Site, the API, the App, other Pft Accounts, computer systems or networks connected to the Site or the App, through password mining or any other means;
- transfer any rights granted to you under this Agreement;
- engage in any other activity which, in Polo's reasonable opinion, amounts to or may amount to market abuse including without limitation the carrying out of fictitious transactions or wash trades, front running or engaging in disorderly market conduct; or
- engage in any behavior which is unlawful, violates this Agreement or is otherwise deemed unacceptable by Polo in its sole discretion.
We may delist a Digital Asset at any time in our sole discretion based on a number of factors, one of which may include changes in a given Digital Asset’s characteristics after we have listed the Digital Asset on Pft . Such characteristics include, but are not limited to:
- Low trade volume on the exchange
- Compromised network security that may present liability for us and/or our customers
- Decreased developer support for the project
- Excessive cost to upgrade and/or continue to support the project
- Lawsuits, enforcement actions and/or other legal issues that the project faces
We will endeavor to provide our customers with notice of any delisting and provide a withdrawal deadline for customers to withdraw their delisted Digital Asset from Pft . Once the withdrawal deadline for a particular Digital Asset has passed, withdrawals will be disabled and the Digital Asset will be fully decommissioned. We will no longer process withdrawals following the applicable withdrawal deadline. In addition, there is no guarantee that customers will be able to withdraw any delisted Digital Assets at any time due to reasons outside of our control, such as when a given network is no longer live.
A transaction on Pft may fail for several reasons, including without limitation to change in seller prices, insufficient margin, or unanticipated technical difficulties. We make no representation or warrant that any transaction will be executed properly. We are under no circumstances liable for any loss or injury suffered by a failure of a transaction to complete properly or in a timely manner. Further, we are in no way responsible for notifying you of a transaction failure, although you are able to see any such failures on the Site. You have full responsibility to determine and inquire into the failure of any transaction which you initiate. POLO DOES NOT GUARANTEE THAT ANY TRANSACTION WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN.
In the event that you receive any data, information, or software through our Services other than that which you are entitled to receive pursuant to this Agreement, you will immediately notify us and will not use, in any way whatsoever, such data, information or software. If you request a withdrawal of Digital Assets and we cannot comply with it without closing some part of your open positions, we will not comply with the request until you have closed sufficient positions to allow you to make the withdrawal. We may refuse to execute a trade, impose trade amount limits or restrictions at any time in its sole discretion without notice. Specifically, we reserve the right to refuse to process, or the right to cancel or reverse, any transaction or not provide access to a User’s deposit address on Pft where it suspects the transaction involves money laundering, terrorist financing, fraud, or any other type of crime or if we suspect the transaction relates to a prohibited use as stated in this Agreement, including transactions involving the opening of an Account and subsequent closure without any actual trading occurring. Pft provides deposit Accounts to enable trading using the Services and does not allow Users to use such Accounts as a web wallet or address changing service. We reserve the right to halt deposit activity at our sole discretion. While Polo may in its discretion reverse a trade, a User may not change, withdraw, or cancel its authorization to make a transaction, except with respect to partially filled orders.
We may correct, reverse, or cancel any trade impacted by an error in processing your purchase or otherwise. Your remedy in the event of an error will be limited. You may seek to cancel your order or obtain a refund of any amounts charged to you, although we cannot guarantee such cancellations or refunds will always be possible.
We provide Users with a platform that allows their orders to be matched with the orders of other Users. Orders may be partially filled or may be filled by a number of orders, depending on the trading activity at the time an order is placed. Polo’s relationship with you under this Agreement is as a trading platform provider only and does not act as principal or counterparty with respect to trades entered into on the platform. Notwithstanding the foregoing, (i) Polo may act as a counterparty for limited trades, such as for the purpose of liquidating fees collected on User trades, and (ii) affiliates of Polo may execute trades on the platform; provided, however, that such affiliates shall not be afforded any priority in trade execution.
The Digital Assets that are available for purchase through the Services may be subject to high or low transaction volume, liquidity, and volatility at any time for potentially extended periods. You acknowledge that while we are using commercially reasonable methods to provide exchange rate information to you through our Services, the exchange rate information we provide may differ from prevailing exchange rates made available by third parties. Similarly, the actual market rate at the time of your trade may be different from the indicated prevailing rate depending on the velocity of trading in the Digital Asset involved in your trade. You agree that you assume all risks and potential losses associated with price fluctuations or differences in actual versus indicated rates.
You hereby represent and warrant to us that any Digital Assets used by you in connection with the Services are either owned by you or that you are validly authorized to carry out transactions using such Digital Assets and that all transactions initiated with your Account are for your own Account and not on behalf of any other person or entity. For the avoidance of doubt, Polo does not own any Digital Assets held by Users on the platform.
You will be able to see a record of your transactions via your Account which you may wish to use for the purposes of making any required tax filings or payments. It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority. We will make any tax withholdings or filings that we are required by law to make, but we are not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction.
You agree to indemnify and hold Polo, its affiliates, and service providers, and each of their officers, directors, agents, joint venturers, employees, and representatives harmless from any claim or demand (including attorneys’ fees and any losses, fines, fees, or penalties imposed by any regulatory authority) arising out of your breach of this Agreement, or your violation of any law or regulation.
For the purpose of this section, the term “losses” means all net costs reasonably incurred by us or the other persons referred to in this Section which are the result of the matters set out in this section and which may relate to any claims, demands, causes of action, debt, cost, expense or other liability, including reasonable legal fees (without duplication).
“Indemnify” means to compensate someone for the harm or loss they may suffer. If you breach this Agreement or violate the law and it results in Polo facing claims or expenses, you agree to cover those losses.
If you have a dispute with one or more users or third parties, you release Polo (and its affiliates and service providers, and each of their officers, directors, agents, joint ventures, employees, and representatives) from any and all claims, demands, and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. If you have a dispute with anyone other than Polo, you release us from liability associated with that dispute.
YOU EXPRESSLY UNDERSTAND AND AGREE THAT POLO AND OUR AFFILIATES AND SERVICE PROVIDERS, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND REPRESENTATIVES WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY DAMAGES, OR DAMAGES FOR LOSS OF PROFITS INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF POLO HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, RESULTING FROM: (I) THE USE OR THE INABILITY TO USE THE SERVICES; (II) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION, OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM THE SERVICES; (III) UNAUTHORISED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; OR (IV) ANY OTHER MATTER RELATING TO THE SERVICES.
We will not be liable for “exemplary damages” (often called punitive damages) or other indirect losses.
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU. IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE SERVICES OR WITH THIS AGREEMENT, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USE OF THE SERVICES AND CLOSE YOUR ACCOUNT. THE SERVICES ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS OR IMPLIED. POLO, OUR AFFILIATES, AND OUR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND SUPPLIERS SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. POLO MAKES NO WARRANTY THAT (I) THE SERVICES WILL MEET YOUR REQUIREMENTS, (II) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (III) WILL BE AVAILABLE OR PERMISSIBLE IN ALL JURISDICTIONS, OR (IV) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU WILL MEET YOUR EXPECTATIONS.
We cannot guarantee that our Services will always meet your demands. As we grow we will likely add new services, change certain features and drop old features. We hope you are always happy with our Services, but we cannot contractually guarantee you will be.
Some jurisdictions do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you. This paragraph gives you specific legal rights and you may also have other legal rights that vary from jurisdiction to jurisdiction.
Polo shall have no liability for any failure or delay resulting from any abnormal or unforeseeable circumstances outside our reasonable control, the consequences of which would have been unavoidable despite all efforts to the contrary, including without limitation governmental action or acts of terrorism, earthquake, fire, flood, or other acts of God, labor conditions, delays or failures caused by problems with another system or network, mechanical breakdown or data-processing failures or where we are bound by other legal obligations.
The laws of the Republic of Panama shall govern this Agreement. Any claims or actions arising out of or relating to the Services agreed in this Agreement shall be governed and interpreted and enforced in accordance with the laws of the Republic of Panama. Each party hereby agrees to submit to the personal and exclusive jurisdiction of the courts located in the Republic of Panama.
We may amend any portion of this Agreement at any time by posting the revised version of this Agreement with an updated revision date. The changes will become effective, and shall be deemed accepted by you, the first time you use the Services after the initial posting of the revised Agreement and shall apply on a going-forward basis with respect to transactions initiated after the posting date. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your Account. You agree that we shall not be liable to you or any third party as a result of any losses suffered by any modification or amendment of this Agreement. If the revised Agreement includes a material change we will provide you with prior notice before the material change becomes effective. For this purpose, a “material change” means a significant change other than changes that (i) are to your benefit; (ii) are required to be made to comply with applicable laws and/or regulation; (iii) relates to a new product or service made available to you or (iv) to otherwise clarify an existing term.
As Polo grows and offers new features, products, and services, we will need to make changes to this Agreement. If we make a big change, we’ll let you know by email. You can always tell when this Agreement was last changed by checking the “Last Revised” date at the top of the Agreement.
You may not transfer or assign this Agreement or any rights or obligations you have under this Agreement without our prior written consent or otherwise and any such attempted assignment shall be void. We reserve the right to freely assign or transfer this Agreement and the rights and obligations of this Agreement, to any third party at any time without notice or consent. If you object to such transfer or assignment, you may stop using our Services and terminate this Agreement by contacting Support and asking us to close your account.
Upon termination of your account or this Agreement for any other reason, all rights and obligations of the parties that by their nature are continuing will survive such termination.
If you grant express permission to a third party to connect to your Account, either through the third party’s product or through Pft , you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold Polo responsible for, and will indemnify Polo from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant.
Polo strives to provide accurate and reliable information and content on the Site and the App, but such information may not always be correct, complete, or up to date. Polo will update the information on the Site and the App as necessary to provide you with the most up to date information, but you should always independently verify such information. The Site and the App may also contain links to third party websites, applications, events or other materials (“Third Party Content”). Such information is provided for your convenience and links or references to Third Party Content do not constitute an endorsement by Polo of any products or services. Polo shall have no liability for any losses incurred as a result of actions taken in reliance on the information contained on the Site, the App or in any Third Party Content.
From time to time we might post helpful links or articles on our Site or provide these via the App, but you should investigate those sources on your own.
We grant you a limited, non-exclusive, non-sublicensable, and non-transferable license, subject to the terms and conditions of this Agreement, to access and use the Services solely for approved purposes as determined by Polo. Any other use of the Services is expressly prohibited. Polo and its licensors reserve all rights in the Services and you agree that this Agreement does not grant you any rights in or licenses to the Services except for the limited license set forth above. Except as expressly authorised by Polo, you agree not to modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the Services, in whole or in part. If you violate any portion of this Agreement, your permission to access and use the Services may be terminated pursuant to this Agreement. “PFT.exchange”, “Pft ” and all logos related to the Services are either trademarks, or registered marks of Polo or its licensors. You may not copy, imitate, or use them without Polo’s prior written consent. All right, title, and interest in and to the Site, any content thereon, the Services, the App and all technology and any content created or derived from any of the foregoing is the exclusive property of Polo and its licensors.
We grant you access to use our products and services, but we still own the intellectual property associated with these products and services.
If Polo is holding funds in your Account, and Polo is unable to contact you and has no record of your use of the Services for a prolonged period of time, applicable law may require Polo to report these funds as unclaimed property to the applicable jurisdiction. Polo reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
If you haven’t logged into your Account for a prolonged period of time and we are unable to get in touch with you, we may be obligated under law to consider your account abandoned and we might then be required to transfer your account balance in such manner as provided by applicable law.
If we receive legal documentation confirming your death or other information leading us to believe you have died, we will freeze your Account and during this time, no transactions may be completed until: your designated fiduciary has opened a new Account, as further described below, and the entirety of your Account has been transferred to such new account, or (ii) we have received proof in a form satisfactory to us that you have not died. If we have reason to believe you may have died but we do not have proof of your death in a form satisfactory to us, you authorize us to make inquiries, whether directly or through third parties, that we consider necessary to ascertain whether you have died. Upon receipt by us of proof satisfactory to us that you have died, the fiduciary you have designated in a valid will or similar testamentary document will be required to open a new Account. If you have not designated a fiduciary, then we reserve the right to treat as your fiduciary any person entitled to inherit your Account, as determined by us upon receipt and review of the documentation we, in our sole and absolute discretion, deem necessary or appropriate, including (but not limited to) a will, a living trust or other similar documentation, or (ii) require an order designating a fiduciary from a court having competent jurisdiction over your estate. In the event we determine, in our sole and absolute discretion, that there is uncertainty regarding the validity of the fiduciary designation, we reserve the right to require an order resolving such issue from a court of competent jurisdiction before taking any action relating to your Account. Pursuant to the above, the opening of a new Account by a designated fiduciary is mandatory following the death of an Account owner, and you hereby agree that your fiduciary will be required to open a new Account and provide the information required under Section 3 of this Agreement in order to gain access to the contents of your Account.
The Services are subject to all applicable export control restrictions, and, by using the Services, you represent that your actions are not in violation of such export control restrictions. Without limiting the foregoing, you may not use the Services if (i) you are a resident, national or agent of Afghanistan, Burma, the Chinese Mainland, Crimea, Cuba, Democratic Republic of Congo, Iran, Iraq, Ivory Coast, Lebanon, Libya, Mali, North Korea, Palestine, Somalia, Sudan, Syrian Arab Republic, Yemen, Zimbabwe, the United States and all US Territories or any other country to which the United States embargoes goods or imposes similar sanctions (“Restricted Territories”); (ii) you are a member of any sanctions list or equivalent maintained by the United States government, the United Kingdom government or by the European Union (“Restricted Persons) or (iii) you intend to transact with any Restricted Territories or Restricted Persons. You represent and warrant that you have not been included in any trade embargoes or economic sanctions list (such as the United Nations Security Council sanctions list), the list of specially designated nationals and individuals maintained by the Magnitsky Act, OFAC (the office of foreign assets control of the U.S. Department of the Treasury), or the denied persons or entity list of the U.S. Department of Commerce.
In addition, you may not use the Services to trade in Margin and Futures if you are a resident, national or agent of Burundi and Morocco.
We reserve the right to block any additional jurisdictions from time to time and at any time at our sole discretion.
The failure of Polo to exercise or enforce any right or provision of the Agreement shall not constitute a waiver of such right or provision. If any provision of this Agreement shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that this Agreement shall otherwise remain in full force and effect and remain enforceable between the parties.
This Agreement is not intended and shall not be construed to create any rights or remedies in any parties other than you and Polo and other Polo affiliates which each shall be a third party beneficiary of this Agreement, and no other person shall assert any rights as a third party beneficiary hereunder. If some future court judgment deems any particular provision of this Agreement unenforceable, the rest of the Agreement is still valid.
Polo is an independent contractor for all purposes. Nothing in this Agreement shall be deemed or is intended to be deemed, nor shall it cause, you and Polo to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or Polo to be treated as the agent of the other.
We often post outage notices and other relevant Services information on our Twitter accounts: @pft or @polosupport so we advise Users to check this before contacting support.
To contact support, go to Support and open a ticket. Please provide all relevant information, including your Pft username and transaction IDs of any related deposits. Although we make no representations or provide no warranties about the speed of response, we will get back to you as soon as possible.