New products are coming soon!
UPDATED FRIDAY 18TH JANUARY 2019
The following terms and conditions (“Agreement” or “Terms”) govern the sale of the cryptographic tokens referenced in the Annex to these Terms (“Tokens”) and the use of the BCVturbotokens.com website. Please read this Agreement before using this website, or purchasing any Tokens offered by BCV Holdings, an Exempted Company incorporated in the Cayman Islands (“BCV Holdings”).
This Agreement shall be binding between you, the purchaser of the Tokens (“Purchaser”), and BCV Holdings, the moment you purchase any Tokens offered by BCV Holdings. Using our website or purchasing Tokens, will imply that you have read, understood and accepted these Terms and you agree to be bound by the following terms and conditions, including any modifications to them which will be posted on the website (www.bcvturbotokens.com), as a result of such access or purchase. If you do not agree to be bound by these terms and conditions, you should immediately stop using this website and not purchase any Tokens.
Nothing in this document constitutes a solicitation for investment, and does not pertain in any way to an offering of securities in any jurisdiction. tokens may not be offered or sold in the United States, Japan, the People’s Republic of China or any other jurisdiction where it is unlawful to do so. PERSONS interested in purchasing Tokens should carefully consider the risks, costs and benefits of purchasing Tokens and should seek independent professional advice BEFORE PURCHASING TOKENS.
The ownership of Tokens carries no express or implied rights, except as set out in this Agreement. Purchases of Tokens are non-refundable. By purchasing Tokens, you expressly acknowledge and represent that you have carefully reviewed these Terms and fully understand the risks, costs and benefits of purchasing Tokens and agree to be bound by this Agreement. You further represent and warrant that you are authorised to purchase Tokens in your relevant jurisdiction, you are not a resident of the United States, Japan or the People’s Republic of China, are of legal age to be bound by these Terms, and will not hold BCV Holdings, its parent, subsidiaries or affiliates, and the officers, directors, agents, joint ventures, employees and suppliers of BCV Holdings (“BCV HoldingsParties”), now or in the future, liable for any losses or incidental or consequential damages arising out of, or in any way connected with the purchase of Tokens.
DO NOT PURCHASE TOKENS IF YOU ARE NOT AN EXPERT IN DEALING WITH CRYPTOGRAPHIC TOKENS AND BLOCKCHAIN-BASED SOFTWARE SYSTEMS
Purchases of Tokens should be undertaken only by individuals, entities, or companies that have significant experience with, and understanding of, the usage and intricacies of cryptographic tokens and blockchain-based software systems. The Purchaser should have functional understanding of storage and transmission mechanisms associated with other cryptographic tokens. If you do not have such experience or expertise, then you should not purchase Tokens.
While the BCV Holdings team will be available to assist the Purchaser of Tokens during and after the sale, BCV Holdings will not be responsible for lost Tokens resulting from actions taken by, or omitted by the Purchaser. In particular, none of the BCV Holdings Parties will have any responsibility for Tokens once issued to the Purchaser’s ERC20 compatible wallet, details of which have been provided by the Purchaser to BCV Holdings.
CRYPTOGRAPHIC TOKENS MAY EXPERIENCE EXTREME PRICE VOLATILITY
Cryptographic tokens that possess value in public markets, such as Bitcoin, have demonstrated extreme fluctuations in price over short periods of time on a regular basis. A Purchaser of Tokens should be prepared to expect similar fluctuations, both down and up, in the price of Tokens denominated in crytocurrencies or United States dollars or currencies of other jurisdictions. Such fluctuations are due to market forces and represent changes in the balance of supply and demand. BCV Holdings cannot and does not guarantee market liquidity for Tokens and therefore there may be periods of time in which Tokens are difficult to buy or sell. Additionally, due to different regulatory requirements in different jurisdictions and the inability of citizens of certain countries to open accounts at exchanges located anywhere in the world, the liquidity of Tokens may be markedly different in different countries and this would likely be reflected in significant price discrepancies. By purchasing Tokens, the Purchaser expressly acknowledges and represents that it fully understands that Tokens may experience volatility in pricing and will not seek to hold any of the BCV Holdings Parties liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected to, the sale of Tokens.
THE PURCHASE OF TOKENS HAS A NUMBER OF RISKS
The purchase of Tokens carries with it a number of risks. Prior to purchasing Tokens, you should carefully consider the risks listed below and, to the extent necessary, consult an appropriate professional adviser. If any of the following risks are unacceptable to you, you should not purchase Tokens. By purchasing Tokens, and to the extent permitted by law, you are agreeing not to hold any of the BCV Holdings Parties liable for any losses or any special, incidental, or consequential damages arising from, or in any way connected, to the sale of Tokens, including losses associated with the risks set forth below.
1. Overview of Tokens
Please refer to the Annex which includes a description of the Tokens the subject of your purchase and forms part of this Agreement.
2. No Ownership Interests or Governance Rights in Respect of BCV Holdings
Tokens shall not constitute, and the entry into this Agreement shall not confer on the Purchaser the right to receive, shareholder or equity interests (or any equivalent in any jurisdiction) in BCV Holdings or in any other person, or to participate in the capital of the BCV Holdings or any other person.
Tokens shall not confer, and the entry into this Agreement shall not confer, on the Purchaser any entitlement to profits, income or sums paid out of profits or income, voting rights or other governance rights (or any equivalent in any jurisdiction) in respect of BCV Holdings or any other person or any entitlement to receive repayment or payment of funds from BCV Holdings or any other person.
3. No Securities Registrations
The Purchaser agrees and acknowledges that: (i) Tokens are neither securities under the U.S. Securities Act of 1933 (as amended) nor commodities under the U.S. Commodity Exchange Act of 1936, as amended, and the Purchaser is not seeking an allocation of Tokens for investment purposes or with the intention of making any profit; accordingly, Tokens have not been and will not be registered under the U.S. Securities Act of 1933 (as amended) or any other U.S. state securities laws, and neither BCV Holdings nor Tokens will be subject to any U.S. commodities regulation; (ii) BCV Holdings gives no representation, warranty or other assurance as to whether or not Tokens constitute securities that require (or are capable of) registration under (i) the U.S. Securities Act of 1933 (as amended) or any other U.S. state securities laws; or (ii) any other jurisdiction relevant to the sale of the Tokens, or which would, if offered to the public, require the publication of a prospectus or similar registration statement in any jurisdiction.
4. Obligation to Determine If Restrictions on Purchases of Tokens in Purchaser’s Jurisdiction
The sale constitutes the sale of a digital asset. This product sale is conducted by BCV Holdings, a exempt Cayman Islands company, operating under Cayman Island law. It is the responsibility of each potential Purchaser of the Tokens to determine if the Purchaser can legally purchase the Tokens in the Purchaser’s jurisdiction. Any resident of the United States, Japan or the People’s Republic of China should not purchase the Tokens and Tokens are not being offered to residents in any such jurisdiction.
5. Acceptance of Terms and Conditions of Tokens Sale
As a first step in the purchase process, BCV Holdings will present the Purchaser with these Terms, and associated documents. By placing an order for Tokens, the Purchaser: (i) consents and agrees to the Terms; (ii) represents and warrants that the Purchaser is legally permitted to purchase Tokens in the Purchaser’s jurisdiction, is not a resident of the United States, Japan or the People’s Republic of China, and is legally permitted to receive products of Cayman Island origin; (iii) represents and warrants that the Purchaser is of a sufficient age to legally purchase Tokens; (iv) represents and warrants that the Purchaser will take sole responsibility for any restrictions and risks associated with the purchase of Tokens as set forth below; (v) represents and warrants that Purchaser is not exchanging bitcoin or USD for Tokens for the purpose of speculative investment; (vi) represents and warrants that the Purchaser is acquiring Tokens for the use specified in the Annex; and (vii) represents and warrants that the Purchaser has an understanding of the usage and intricacies of cryptographic tokens, like Bitcoin, and blockchain-based software systems.
6. Receipt of the Tokens and the Purchase Email
As part of the purchase process, and in order to purchase the Tokens, a Purchaser will need to provide the address of an ERC20 compatible wallet (the “Wallet”). The Tokens will be delivered to the Wallet. By purchasing the Tokens, and to the extent permitted by applicable law, the Purchaser agrees not to hold any of the BCV Holdings Parties liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to, Purchaser’s failure to notify BCV Holdings of the correct Wallet.
7. Tokens Will Only Be Available For Sale on the BCV Holdings Website
BCV Holdings will only sell Tokens through the BCV Holdings website, available at www.bcvturbotokens.com. To the extent that any third party website or service offers Tokens for sale or facilitates the sale or transfer of Tokens in any way during the initial sale or at any time up to the release of the initial Tokens, such third party websites or services are not sanctioned by BCV Holdings or its parents and affiliates and have no relationship in any way with the BCV Holdings Parties. As a result, BCV Holdings prohibits the use of these third party websites or services for the purchase of Tokens.
8. Certain Risks Associated with the Purchase of Tokens
The purchase of Tokens carries with it significant risk. Prior to purchasing Tokens, the Purchaser should carefully consider the below risks and, to the extent necessary, consult a professional adviser prior to determining whether to purchase Tokens.
a. Cryptocurrencies have been the subject of regulatory scrutiny by various regulatory bodies around the globe. The BCVturbotokens website and Tokens could be impacted by one or more regulatory enquiries or regulatory action, which could impede or limit the ability of BCV Holdings to continue to sell Tokens and/or which could inhibit the development and delivery of the Tokens to the Purchaser.
b. As BCV Holdings is not regulated, the Purchaser will not benefit from any regulatory protections afforded to the offering of investments.
c. It is possible that the BCVturbotokens website will not be used by a large number of external businesses, individuals, and other organizations and that there will be limited public interest in the peer-to-peer creation and dissemination of Tokens. Such a lack of interest could impact the value of the Tokens and potential uses of Tokens. BCV Holdings is working with third parties around the world to create an interest in the BCVturbotokens website. However, it cannot predict the success of its own efforts or the efforts of other third parties in this regard.
d. The Purchaser recognizes that the business model in respect of which Tokens are issued (as detailed in the Annex) is under development. The Purchaser acknowledges that any expectations regarding the functionality and use of the Tokens held by the Purchaser may not be met, for any number of reasons including a change in the design and implementation plans and execution of the implementation of the underlying business model.
e. The Purchaser understands that the business model in respect of which Tokens are issued (as detailed in the Annex) may never become operational. In such situations, the Purchaser will not receive any refund of amounts paid for the purchase of Tokens and the Tokens will be worthless.
f. Hackers or other groups or organizations may attempt to steal revenue from the sales of Tokens, thus potentially impacting the ability to develop and operate the business model in respect of which Tokens are issued (as detailed in the Annex). To account for this risk, BCV Holdings has and will continue to implement security precautions to safeguard the revenues obtained from the sale of Tokens.
g. Advances in code cracking, or technical advances such as the development of quantum computers, could present risks to cryptocurrencies and the BCVturbotokens platform, which could result in the theft or loss of Tokens. To the extent possible, BCV Holdings intends to update the protocol underlying the BCVturbotokens platform to account for any advances in cryptography and to incorporate additional security measures, but cannot it cannot predict the future of cryptography or the success of any future security updates.
h. As with other cryptocurrencies, the blockchain used for the BCVturbotokens platform and the Tokens is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attacks present a risk to the BCVturbotokens platform and the Tokens, expected proper execution and sequencing of Tokens transactions, and expected proper execution and sequencing of contract computations.
i. Tokens are a new product, thus contributing to price volatility that could adversely affect the value of Tokens. The factors affecting the further development of the digital assets industry, as well as Tokens and the BCVturbotokens platform, include:
j. A failure to properly monitor and upgrade the protocol could damage the BCVturbotokens platform and Tokens.
k. Intellectual property rights claims may adversely affect the operation of the BCVturbotokens platform and Tokens. Third parties may assert intellectual property claims relating to the holding and transfer of digital assets and their source code. Regardless of the merit of any intellectual property or other legal action, any threatened action that reduces confidence in the BCVturbotokens platform’s and Tokens’ long-term viability or the ability of end-users to hold and transfer Tokens may adversely affect the value of Tokens. Additionally, a meritorious intellectual property claim could prevent BCV Holdings and other end-users from accessing the BCVturbotokens platform or holding or transferring their Tokens.
l. Cryptocurrency exchanges on which Tokens may trade may be relatively new and largely unregulated and may therefore be more exposed to fraud and failure than established, regulated exchanges for other products. To the extent that the cryptocurrency exchanges representing a substantial portion of the volume in Tokens’ trading are involved in fraud or experience security failures or other operational issues, such cryptocurrency exchange failures may result in a reduction in the price and can adversely affect the value of Tokens. A lack of stability in the cryptocurrency exchanges and the closure or temporary shutdown of cryptocurrency exchanges due to fraud, business failure, hackers or malware, or government-mandated regulation may reduce confidence in the BCV Holdings platform and Tokens, and result in greater volatility in the price.
m. Political or economic crises may motivate large-scale sales of Tokens, which could result in a reduction in the price and adversely affect the value of a Token. Digital assets such as Tokens, which are relatively new, are subject to supply and demand forces based upon the desirability of an alternative, decentralized means of transacting, and it is unclear how such supply and demand will be impacted by geopolitical events. Large-scale sales of Tokens would result in a reduction in the price and adversely affect the value of Tokens.
n. It is possible that a digital asset other than Tokens could have features that make it more desirable to a material portion of the digital asset user base, resulting in a reduction in demand for Tokens, which could have a negative impact on the use and price of Tokens. It is possible that a comparable product could become materially popular due to either a perceived or exposed shortcoming of the BCVturbotokens platform and/or Tokens that is not immediately addressed by BCVturbotokens or the developer of the business model in respect of which Tokens are issued (as detailed in the Annex), or a perceived advantage of a comparable product that includes features not incorporated into Tokens. If this product obtains significant market share, it could have a negative impact on the demand for, and price of, Tokens.
o. Transactions are irrevocable and stolen or incorrectly transferred Tokens may be irretrievable. As a result, any incorrectly executed Token transactions could adversely affect the value of the Tokens. Once a transaction has been verified and recorded in a block that is added to the blockchain, an incorrect transfer of Tokens or a theft of Tokens generally will not be reversible and there may be no compensation for any such transfer or theft. Such loss could adversely affect the value of Tokens.
9. All Purchases are Non-Refundable
ONCE THE FUNDING HURDLE (IF APPLICABLE) HAS BEEN MET, ALL PURCHASES OF TOKENS ARE FINAL. PURCHASES OF TOKENS ARE NON-REFUNDABLE. BY PURCHASING TOKENS, THE PURCHASER ACKNOWLEDGES THAT NEITHER BCV HOLDINGS NOR ANY OTHER OF THE BCV HOLDINGS PARTIES ARE REQUIRED TO PROVIDE A REFUND FOR ANY REASON. BCV Holdings will only sell Tokens through the BCV Holdings website, available at www.bcvturbotokens.com. To the extent that any third party website or service offers Tokens for sale or facilitates the sale or transfer of Tokens in any way during the initial sale or at any time up to the release of the initial block, such third party websites or services are not sanctioned by BCV Holdings or its parents and affiliates and have no relationship in any way with the BCV Holdings Parties. As a result, BCV Holdings prohibits the use of these third party websites or services for the purchase of Tokens.
10. Discharge of Obligations
Once delivered to the Purchaser’s Wallet BCV Holdings will be treated as having discharged all its obligations under this Agreement in full.
11. Taxation of Tokens
BCV Holdings makes no representations concerning the tax implications of the sale of Tokens or the possession or use of Tokens. The Purchaser bears the sole responsibility to determine if the purchase of Tokens, or the potential appreciation or depreciation in the value of Tokens over time has tax implications for the Purchaser in the Purchaser’s home jurisdiction or elsewhere. By purchasing Tokens, and to the extent permitted by law, the Purchaser agrees not to hold any of the BCV Holdings Parties liable for any tax liability associated with or arising from the purchase or sale of Tokens.
12. Privacy and Data Protection
13. KYC Information
As part of the purchase process, the Purchaser must provide BCV Holdings with documentation to establish their identity and evidence of their source of funds used to purchase the Tokens. BCV Holdings will use this information to verify: (i) the Purchaser’s identity; (ii) that the Purchaser’s source of funds are legitimate; and (iii) that the Purchaser is not subject to any sanctions (including by searching relevant third party databases). BCV Holdings will also use this information to comply with its obligations under applicable anti-money laundering and suspicious transaction reporting laws. The Purchaser represents and warrants that the information provided is true, complete and accurate and that BCV Holdings can use such information for the purposes described herein.
BCV Holdings reserves the right to request additional information from the Purchaser and to disclose any information provided by the Purchaser to third parties, including any regulatory bodies or governmental authorities for the purposes described herein. The Purchaser undertakes to comply with any subsequent request for information made by BCV Holdings and acknowledges that BCV Holdings (in its sole discretion) may reject the Purchaser’s application / terminate this Agreement (as the case may be) at any time, if the Purchaser provides incomplete, untrue or inaccurate information or otherwise if BCV Holdings (in its sole discretion) is not satisfied with the information provided.
14. Termination of Purchaser Accounts
BCV Holdings may terminate this Agreement at any time for whatever reason, subject only to any accrued rights and obligations hereunder at the date of termination. The Purchaser agrees not to hold any of the BCV Holdings Parties liable for any losses or any special, incidental, or consequential damages arising out of, or in any way connected to, to the termination of this Agreement.
15. Disclaimer of Warranties
THE PURCHASER EXPRESSLY AGREES THAT THE PURCHASER IS PURCHASING TOKENS AT THE PURCHASER’S SOLE RISK AND THAT A TOKEN IS PROVIDED ON AN "AS IS" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR IMPLIED WARRANTIES, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE (EXCEPT ONLY TO THE EXTENT PROHIBITED UNDER APPLICABLE LAW WITH ANY LEGALLY REQUIRED WARRANTY PERIOD TO THE SHORTER OF THIRTY DAYS FROM FIRST USE OR THE MINIMUM PERIOD REQUIRED BY LAW). WITHOUT LIMITING THE FOREGOING, NONE OF THE BCV HOLDINGS PARTIES WARRANT THAT THE PROCESS FOR PURCHASING TOKENS WILL BE UNINTERRUPTED OR ERROR-FREE.
16. Limitations Waiver of Liability
THE PURCHASER ACKNOWLEDGES AND AGREES THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, TOKENS OR THE BCVTURBOTOKENS PLATFORM UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY KIND IN ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE) AND THAT NONE OF THE BCV HOLDINGS PARTIES SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING FOR LOSS OF PROFITS, GOODWILL OR DATA, IN ANY WAY WHATSOEVER ARISING OUT OF THE USE OF, OR INABILITY TO USE, OR PURCHASE OF, OR INABILITY TO PURCHASE, TOKENS.
THE PURCHASER FURTHER SPECIFICALLY ACKNOWLEDGES THAT THE BCV HOLDINGS PARTIES ARE NOT LIABLE FOR THE CONDUCT OF THIRD PARTIES, INCLUDING OTHER PURCHASERS OF TOKENS, AND THAT THE RISK OF PURCHASING AND USING TOKENS RESTS ENTIRELY WITH THE PURCHASER. TO THE EXTENT PERMISSIBLE UNDER APPLICABLE LAWS UNDER NO CIRCUMSTANCES WILL ANY OF THE BCV HOLDINGS PARTIES BE LIABLE TO ANY PURCHASER FOR MORE THAN THE AMOUNT THE PURCHASER HAVE PAID TO BCV HOLDINGS FOR THE PURCHASE OF TOKENS. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES. THEREFORE, SOME OF THE ABOVE LIMITATIONS IN THIS SECTION AND ELSEWHERE IN THE TERMS MAY NOT APPLY TO A PURCHASER. IN PARTICULAR, NOTHING IN THESE TERMS SHALL AFFECT THE STATUTORY RIGHTS OF ANY PURCHASER OR EXCLUDE INJURY ARISING FROM ANY WILFUL MISCONDUCT OR FRAUD OF BCV HOLDINGS OR THE WEBSITE BCVTURBOKENS.COM.
17. Law and Jurisdiction
This Agreement and the relationship between you and BCV Holdings shall be governed by and construed in accordance with the laws of Hong Kong, you agree to submit to the exclusive jurisdiction of the Courts of Hong Kong.
18. Force Majeure
BCV Holdings is not liable for failure to perform solely caused by:
● unavoidable casualty;
● delays in delivery of materials;
● government orders or actions;
● acts of civil or military authorities;
● acts by common carriers;
● emergency conditions (including weather conditions); or
● any similar unforeseen event that renders performance commercially implausible.
If an event of force majeure occurs, the party injured by the other’s inability to perform may elect to suspend the Agreement, in whole or part, for the duration of the force majeure circumstances. The party experiencing the force majeure circumstances shall cooperate with and assist the injured party in all reasonable ways to minimize the impact of force majeure on the injured party.
19. Third Party Rights
Nothing in these Terms shall confer any rights upon any third party. The Agreement created by these Terms is between the Purchaser and BCV Holdings.
20. Complete Agreement
These Terms set forth the entire understanding between each Purchaser and BCV Holdings with respect to the purchase and sale of Tokens. For facts relating to the sale and purchase, the Purchaser agrees to rely only on these Terms in determining purchase decisions and understands that these Terms govern the sale of Tokens and supersede any public statements about Tokens made by third parties or by the BCV Holdings Parties or individuals associated with any BCV Holdings Parties, past and present and during the sale.
Copyright © 2019 BCV Holdings - All Rights Reserved.