Terms and Conditions of Bithumb Prime Service

Article 1 (Purpose)

The purpose of these terms and conditions is to set forth rights, obligations, responsibilities of BTC Korea.com Corp (hereinafter "Company") and members, and other necessary matters with regard to the terms of and procedures for using Bithumb Prime Service.

Article 2 (Definitions)

  1. The Terms and Conditions may be prepared in different languages other than in Korean for the convenience of users, including members.
  2. In principle, the Terms and Conditions shall be prepared in Korean. If there is any conflict or difference in interpretation between a different language version of the Terms and Conditions and matters on the use of the Service hereunder, and the Korean version thereof, the Korean version thereof shall prevail, except for the cases that are otherwise specified hereunder.

Article 3 (Definitions)

  1. The definitions of the terms used in these terms are as follows:
    • Member means any entity that has accepted the Terms and Conditions, applied for Bithumb Prime Service and entered into a user agreement with the Company.
    • Bithumb Prime Service (hereinafter "Service") means Prime API which specializes in institutional investors, exclusive fees for Prime service, Prime Professional Consulting Service, and others.

Article 4. Application for the Use of Service and Screening and Acceptance of Application

  1. Any entity wishing to use the Service (hereinafter "Applicant") shall apply for the use of the Service by expressing its intention to agree to the Terms and Conditions and entering necessary matters on a form prescribed by the Company.
  2. The Applicant shall meet members’ qualification requirements specified by the Company. The Company shall announce such requirements on the screen (webpage) for the Use of the Service.
  3. The Company may modify such qualification requirements under Paragraph 2 above if deemed necessary for its management needs or from policy aspects. In such a case, the Company shall announce the details and effective date of such modified requirements on the screen (web page) of the use of the Service prior to seven (7) days before the effective date. However, it shall notify members of such modification that is disadvantageous to members or material prior to thirty (30) days before the effective date.
  4. The Company shall conduct screening of applications for the use of the Service in accordance with its screening criteria, and approve the use of the Service, and provide the Service for the Applicants satisfying both qualification requirements and screening criteria.
  5. The Company may request the Applicant to provide supporting documents if such documents are needed for the application for the use of the Service or screening.
  6. If the Applicant (a member) obtains approval for the use of the Service by false or fraudulent methods, the Company may temporarily suspend the use of the Service by such a member. If such a member fails to explain that there is a justifiable reason for doing it, the Company may terminate a user agreement with such a member after giving a prior notice.

Article 5 ( Details of Service)

  1. The details of Bithumb Prime Service are as follows:
    • Prime API
    • Exclusive fees for Prime API,
    • Prime Professional Consulting Service
    • Other services provided for the members of the Service
  2. The Company shall notify the members of details of the Service or Terms and Conditions by announcing them on the screen (webpage) of the use of Service or via notices, user guides, its operation policy, and detailed guidelines (hereinafter "Detailed Guidelines")
  3. The Company may change the Service, in whole or in part, according to its operational and technological needs. In such a case, the Company shall notify the members of such change prior to at least seven (7) days.

Article 6 (Restrictions on Members)

  1. The members shall be prohibited from participating in all events held by the Company, and even if they participate in the events due to computer errors or mistakes, they shall not receive economic benefits or profits provided through such events, such as gifts or fee discounts (hereinafter "Profits"). If the Company verifies that a member has received profits through participation in events, it may demand the return of such profits after giving a prior notice to such a member, and if such a member does not respond to such demand, it may take a minimum necessary measure, such as recovery of the Profits. The foregoing clause shall not apply to the cases where members’ participation in events is separately agreed upon by the Company and members in writing or expressly permitted by the Company.
  2. The members shall be prohibited from using coupons for general fees other than those for Prime fees.

Article 7 (Withdrawal from Service)

  1. Members may withdraw from the Service at any time.
  2. If a member submits an application for withdrawal of the Service, the Service shall be immediately terminated.

Article 8 (Members’ Obligations)

  1. Members shall not perform the acts described in each subparagraph below while using the Service:
    • Manipulating the prices of cryptocurrencies and conducting fraudulent transactions (including disrupting market order and short selling);
    • Engaging in illegal acts, such as multi-level marketing or fund-raising business conducted without permission;
    • Conducting money laundering or financing of terrorism;
    • Violating related laws, such as the Capital Markets and Financial Investment Business Act, which includes managing financial investment business without being licensed or engaging in investment advisory business or discretionary investment business without being registered.
    • Using another member's account (ID)
    • Using another person's name without being authorized
    • Obstructing the normal usage of the Service through data breach (hacking), etc.
    • Engaging in commercial acts, including transferring to another person the data obtained through the Service, such as investment information, market prices, accounts, execution details, balances, etc.
    • Developing a program that could be mistakenly construed as substituting or representing the Company
    • Obstructing the Company's business or defaming the Company
  2. If a member violates its obligation hereunder or hampers the normal operation of the Service, the Company may limit the use of the Service or terminate a user agreement.

Article 9 (Management of Account)

  1. Members shall directly use and manage their accounts by themselves. Members shall manage all of their accounts in an appropriate manner, and be liable for the use of their accounts, except for cases where there is the Company’s willful misconduct or negligence.
  2. If a member becomes aware that its account has been stolen or fraudulently used, such a member shall immediately notify the Company and follow the Company’s instructions. The Company shall not be liable for any disadvantage that arises as a result of such a member’s failure to notify the above fact or to follow the Company’s instructions despite such a member’s notification, unless such disadvantage is caused by the Company’s willful misconduct or negligence.

Article 10 (Limitation on Liability)

The Company shall not be liable for members’ damage or the consequences of the use of the Service, which occurs as a result of each of the following, except for the cases where there is the Company’s willful misconduct or negligence.
    • If the member does not follow the Terms and Conditions, a user guide for the Service , the Detailed Guidelines, or applicable laws and regulations
    • If a dispute arises between members through or during the use of the Service,
    • If the Company uses a program directly developed by a member other than the matters made available via the Service,
    • If a member's account, password, authentication no. or other information is leaked,
    • If any disruption in the Service is unavoidably caused by the malfunction or technical problems of the blockchain or a system of issuing and managing cryptocurrencies, faults of telecommunication service providers, and regular server maintenance, and others.
    • If the Service cannot be provided due to force majeure events, such as natural disasters, DDos attacks, IDC failures, server down caused by overloaded service traffic, , or problems with cables of telecom carriers

Article 11 (Other Applicable Rules)

  1. The Company may establish the separate Detailed Guidelines for the Service in addition to the Terms and Conditions, and inform members of the Detailed Guidelines or obtain consent on the Detailed Guidelines from the members. If the Detailed Guidelines to which the members agree contradicts the Terms and Conditions, the Detailed Guidelines shall prevail.
  2. Members using the Service shall be also governed by rights and obligations of the Company and members as stipulated by the Terms and Conditions. Any matter or interpretation not specified herein shall be determined by Bithumb’s Terms and Conditions, Bithumb API Terms and Conditions, Detailed Guidelines, related laws or commercial practices.

Article 12 (Governing Laws and Jurisdiction)

  1. The Terms and Conditions shall be governed and interpreted by the laws of the Republic of Korea. Any lawsuit arising between the Company and members shall be governed by the laws of the Republic of Korea.
  2. Any lawsuit arising between the Company and members concerning the use of the Service shall be submitted to the jurisdiction of a court which is designated under laws.

[Addendum]

  1. The Terms and Conditions shall take effect on November 9, 2018.

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