Exchange rules

1. General provisions

This agreement describes the rules and conditions on which the services of 111obmen.com are provided and is an official written public offer addressed to individuals (hereinafter the User) to conclude the Agreement on the provision of services by 111obmen.com on the terms set out below. Before using the services of 111obmen.com, the User must read the terms of the “Agreement on the provision of services by 111obmen.com” in full. The services of 111obmen.com may be used only if the User accepts all terms of the Agreement. The current version of the Agreement is publicly available on the website of 111obmen.com.

1.1. The 111obmen.com service (hereinafter the Service) is a service that provides individuals and legal entities with the exchange, purchase or sale of electronic currency. These services are provided by means of a dedicated software system available at https://111obmen.com.

1.2. The User is a legal entity or individual who has unconditionally accepted all terms of this offer and uses the services of 111obmen.com.

1.3. A Payment system is a software system created by a third party that keeps records of digital money units, electronic money and other obligations, settles accounts between users, etc.

Under this agreement the key payment systems are: Yandex.Money, BTC, Perfect Money, QIWI, Payeer, etc. Legal entities and individuals can always find the full list of payment systems on 111obmen.com.

1.4. Electronic money (electronic currency) means monetary or other obligations that arise between the persons using this currency and those who created it. These obligations have a digital form.

1.5. Operations (payments) mean the transfer of digital currency (electronic money) from the sender's account to the recipient's account.

1.6. An Order is the specific intention of a visitor of 111obmen.com to use its services by accepting the relevant rules of this offer. This intention is expressed by the user providing information and submitting it to the service through the dedicated electronic form on 111obmen.com.

1.7. The source electronic currency is the currency the user holds and wants to exchange or sell, receiving other electronic currency or money in another form in return.

1.8. The received currency is the currency the user of 111obmen.com receives as a result of the exchange in return for the source currency.

1.9. The Parties are all users who have unconditionally accepted the rules of this agreement and decided to use the services of 111obmen.com, and the 111obmen.com service itself.

1.10. Currency exchange means an operation exchanging the electronic currency of different payment systems.

1.11. Currency reserves mean the amount of electronic money that 111obmen.com holds and within which users can carry out exchange operations through the service. Each user can find the current reserves on the service's home page.

1.12. The Rate is the ratio of one electronic currency to another in the course of an exchange.

2. Subject of the agreement and its entry into force

2.1. This agreement governs the relations between the User and the Service concerning the services the Service provides to the User and cancels all previous arrangements between the Service and the User on this subject.

2.2. This agreement does not override the laws of the countries of registration and location of the Service and the User, nor the contractual relations between the User and the electronic payment system(s).

2.3. This agreement is deemed accepted on the terms of a public offer accepted by the User when submitting an Order, which is an integral part of this agreement.

2.3.1. The public offer is the information shown by the Service about the parameters and terms of the Order.

2.3.2. Acceptance of the public offer is the User's completion of the Order, confirming their intention to deal with the Service on the terms offered by the Service immediately before the Order is completed. When registering on the Service's website, this agreement comes into force when the box before “I agree to the terms of the offer” is ticked and the “Sign up” button is pressed.

2.3.3. The date and time of acceptance and the Order terms are recorded by the Service automatically when the Order is completed.

2.4. This agreement comes into force when the User completes the Order.

2.5. This agreement ends when electronic units in the amount set by the User's Order arrive at the requisites provided by the User, or when the order is cancelled.

2.6. The Parties recognise this agreement in electronic form as having the same legal force as an agreement concluded in writing.

2.7. The Service reserves the right to amend this agreement unilaterally without notifying the User, but must publish the current version of the agreement on this page.

3. Subject of the agreement and cost of services

3.1. The subject of this Agreement is the exchange, purchase and sale of title units of electronic payment systems carried out at the User's request, as well as other services described on the Service's website.

3.2. The fee of 111obmen.com for these actions is shown in the Order and confirmed by the User on one of the pages of the user interface.

3.3. The cost of the services of 111obmen.com is set by the Service management and published on the Service's website.

3.4. 111obmen.com may change the exchange rates of electronic currencies and the fees charged at any time unilaterally, notifying the Service's users by publishing information about these changes on the Service's website in advance.

3.5. The Order created by the User on the Service's website states the Rate, the exchange method and the total amount of money or electronic currency transferred.

3.6. 111obmen.com charges its fee at the time of the corresponding Operation.

4. Terms of service

4.1. The User orders the services of 111obmen.com by submitting an Order through the Service's website.

4.2. The User manages the exchange or gets information about the progress of the service through the user interface on the Service's website.

4.3. The Service processes the User's Orders in strict accordance with the privacy policy (section 5 of this agreement) and the policy on anti-money laundering and prevention of illegal operations (section 6 of this agreement).

4.4. Operations with electronic units are recorded by the Service according to the regulations, rules and format of the relevant electronic payment systems.

4.5. Any completed operation carried out by the Service under the User's Order is irrevocable, i.e. it cannot be cancelled by the User once completed — once the User has received what is due under the previously accepted terms of the deal.

4.6. If electronic units from the User do not arrive at the requisites provided by the Service within one hour of the User's acceptance, the agreement on the terms of the Order is deemed terminated by the Service unilaterally as never having come into force, without notice to the User.

4.7. If the agreement is terminated, electronic units received after this period are returned to the sender's requisites within the following 24 hours. All fees for transferring the electronic units back are deducted from the funds received at the User's expense. The Service is not liable for possible delays in the refund if they were not caused by the Service.

4.8. If the amount of electronic units received differs from the amount stated by the User, the Service may terminate the agreement unilaterally by refusing to execute the order and returning the funds to the sender's requisites within the following 24 hours. All fees for transferring the electronic units back are deducted from the funds received at the User's expense. The Service is not liable for possible delays in the refund if they were not caused by the Service.

4.9. If the monetary equivalent is not sent to the requisites given by the User within 24 hours of receiving the User's payment, and there are no reasons for the Service to block the electronic units received under the User's Order, the User may demand termination of the agreement by cancelling the order and having the electronic units returned in full.

4.10. The Service must fulfil a request to cancel an order only if, at the time the request is received, the monetary equivalent has not been sent to the requisites given by the User.

4.11. If an order is cancelled, the Service returns the electronic units to the sender's requisites within 24 hours of receiving the cancellation request. The Service is not liable for possible delays in the refund if they were not caused by the Service.

4.12. The Service may engage third-party contractors to fulfil its obligations.

4.13. The Service may cancel an operation in progress and return the electronic units and/or funds paid by the User, reimbursing the User for the fees of the electronic payment systems, without giving reasons.

4.14. The Service may refuse further service to the User if the User breaches any clause of this agreement.

4.15. All Orders created by the User after the Service has refused further service are automatically frozen.

4.16. The Service may delay a transaction until the User's identity is verified by phone or by other means that do not contradict applicable law.

4.17. By using the services of 111obmen.com, the User confirms that they lawfully own and dispose of the money and electronic currency involved in the Payment.

4.18. The User undertakes to calculate and pay all taxes required by the tax laws of the User's place of residence on their own.

4.19. Special terms of some payment systems:

• when the User sends funds via Yandex.Money, the transfer is frozen for 24 hours and unfrozen once this time has passed.

• when the User sends Bitcoin, Litecoin or Ethereum, the exchange order is accepted for execution after two transaction confirmations.

4.20. The User guarantees that they are not involved in:

• money laundering;

• income from illegal drug trafficking;

• income from criminal and/or terrorist activity;

• income from trade with countries with which trade is prohibited by international organisations;

• income from any other illegal activity.

4.21. The Service may require the client to create the order again if confirmation of a cryptocurrency transaction is delayed for more than 8 hours. The Service may also return the funds to the client minus the wallet fee of the relevant cryptocurrency.

4.22. The Service may terminate the agreement unilaterally if the client has breached the rules of using the service.

4.22.1. Whether the client's actions breach the rules of using the service is determined at the discretion of the service.

4.22.2. When terminating the agreement unilaterally, the service returns the funds to the sender's requisites within 60 calendar days.

4.22.3. If the amount of electronic units received differs from the amount stated by the User, or the payment was made in two payments, the order is considered erroneous and unpaid; in this case the funds are not returned.

4.22.4. If the user carries out an operation in which they send or receive BTC, they must take into account that any transaction in the BTC network may take from 30 minutes to a day to be confirmed. The Service cannot affect the confirmation speed.

4.22.5. The payment requisites for an order are valid for 60 minutes; after this time transfers are not credited and are not refundable.

4.22.6. Transfers to our requisites without creating an exchange order are not credited as payment and are not refundable.

4.22.7. If the Bitcoin network is congested, the processing time of orders paying out Bitcoin may increase to 40 minutes.

4.23 The Service may request any additional information about the payment made by the client for the order, such as a receipt of the payment, a screenshot of the transaction made to pay for the order, the transaction TXID, etc.

5. Privacy policy

5.1. To carry out operations, the Service receives the User's personal data, which the Service undertakes to store in encrypted form, keep confidential and not transfer to third parties, except as described in clauses 5.4, 5.5 and 6.5 of this agreement.

5.2. All operations with Orders and the transfer of personal data from the User to the Service are carried out over an encrypted SSL channel with a 256-bit key.

5.3. The Service may, where necessary, collect additional data about the User by any available means. All information collected in this way is kept confidential and is not transferred to third parties, except as described in clauses 5.4, 5.5 and 6.5 of this agreement.

5.4. The Service may transfer the User's personal data and the details of their operations, keeping them confidential, to law enforcement agencies upon an official written request / court decision / on its own initiative (if an investigation is needed), and to the User to whom they belong.

5.5. The Service may transfer the details of an operation and the related personal data of the User upon an official request of the electronic payment system for internal investigations.

5.6. All data collected about the User and the details of their operations are stored in the Service's database for three years from the Service's execution of the User's last Order.

6. Anti-money laundering and illegal operations policy

6.1. In accordance with international law, 111obmen.com follows a number of rules and implements procedures aimed at preventing the use of the Service for money laundering, i.e. actions aimed at returning money or other securities of illegal origin to the financial and economic market by presenting their acquisition and ownership as lawful and normal, and for other illegal operations.

6.2. To prevent illegal operations, the Service sets certain requirements for all Orders created by the User:

6.2.1. The sender and the recipient of the Payment under the Order must be the same person. Transfers in favour of third parties using the Service are strictly prohibited.

6.2.2. All contact details the User enters in the Order, and any other personal data the User provides to the Service, must be current and completely accurate.

6.2.3. Creating Orders through anonymous proxy servers or any other anonymous internet connections is strictly prohibited.

6.3. To prevent illegal operations, the Service:

• Uses an internal system for automated analysis of transactions and User behaviour (fraud prevention system) that stops all suspicious transactions of the User.

• Sets limits on the User's operations depending on the User's identification level and country of origin.

• Follows the “Know Your Customer” policy.

• Checks all data provided by the User by all available means.

6.4. The Service reserves the right to freeze all current Orders of the User until it receives copies of the User's identity documents, the source of the electronic units and other information needed to check the operation in the following cases:

• If a breach of any requirement of clause 6.2 of this Agreement is detected.

• If the User's Order is stopped by the fraud prevention system.

• If the Service administration has reasonable suspicion that the user is trying to use the Service for money laundering or any other illegal operations.

The User, in turn, undertakes to provide the requested document within 7 business days of receiving the request, or to request cancellation of the order.

6.4.1. If the User refuses to provide the requested documents, the Service reserves the right to refuse further service to the User and take the actions described in clause 4.10 of this agreement.

6.5. The Service reserves the right to refuse further service to the User and take the actions described in clause 4.7 of this agreement, and then to transfer all the User's data held by the Service and all information about the User's operations to law enforcement agencies in the following cases:

• Detection of transactions aimed at money laundering, financing of terrorist organisations, fraud of any kind, or any other illegal or unlawful operations.

• Reasonable suspicion of the Service that the identity document provided by the User is forged or invalid.

• Information from the competent authorities that the User does not lawfully own the electronic units or funds, and/or other information that makes it impossible for the Service to serve the User.

• Detection of any actions or attempted actions by the User aimed at any negative impact on the Service's software and hardware.

• Detection of any actions or attempted actions by the User aimed at stealing the databases or other tangible and intangible property of the Service.

• Detection of any actions or attempted actions by the User capable of causing any physical, material or immaterial harm to the Service.

6.6. The Service reserves the right to verify, by all means available to it, the personal and any other information received from the User.

7. Limitation of liability

7.1. The Service is not a bank. The Service offers its services around the clock, without days off, and will strive for the software and hardware implementing the Service to work without failures.

7.2. The Service provides its services “as is”, as described on the pages of the Service's website, and offers no additional guarantees.

7.3. By using the Service, the User agrees that the Service's liability is limited to the funds received from the User for the subject of this agreement, that the Service provides no additional guarantees and bears no additional liability to the User, just as the User bears no additional liability to the Service, except as stated in clause 7.9.

7.4. The Service will make every effort but does not guarantee that its services will be available around the clock every day. The Service bears no liability for losses, lost profit or other costs of the User resulting from the inability to access the website and the Service's services.

7.5. The Service bears no liability for losses, lost profit or other costs of the User resulting from delays, errors or failures in bank payments or electronic transfers.

7.6. The Service bears no liability for losses, lost profit or other costs of the User resulting from the User's mistaken expectations regarding the Service's rates, the profitability of transactions and other subjective factors.

7.7. If the User provides incorrect recipient requisites, the Service bears no liability for any adverse consequences or damage resulting from this error.

7.8. When using the Service, the User is solely responsible for paying taxes in accordance with the tax laws of their country of residence. The Service is not a tax agent and will not notify the User of any possible tax costs of using the Service.

7.9. The User guarantees to compensate the losses of the Service (the managing company, its managers and employees) in the event of claims directly or indirectly related to the User's use of the Service, except for losses caused by culpable (intentional or negligent) actions of the Service itself.

7.10. The User undertakes not to use the Service for fraudulent or illegal operations and agrees that any attempt to exchange fraudulent capital will be prosecuted to the full extent of the law. The User's actions may be deemed illegal under the laws of the User's country of residence and/or the country where the Service is registered.

7.11. The User undertakes not to falsify communication flows related to the operation of the Service, not to interfere with its software and/or hardware, and not to exert any other influence capable of disrupting the normal operation of the Service, understanding that such actions will be prosecuted to the full extent of the law.

7.12. If falsification of communication flows or any negative impact on the normal operation of the Service's code directly or indirectly related to the User's order is detected, execution of the order is suspended and the actions described in clause 6.5 of this agreement are taken.

7.13. Neither the User nor the Service is liable to the other for delays or failure to fulfil obligations resulting from force majeure, including natural disasters, fire, flood, terrorist acts, changes of government, civil unrest, and failures of electronic payment systems, power supply systems, communication networks and internet providers.

7.14. Electronic payment systems and/or financial institutions bear sole responsibility for the funds entrusted to them by the User. The Service cannot be a party to an agreement between a payment system and/or financial institution and the User and bears no responsibility for incorrect or unauthorised use of an electronic payment system by the User, or for the User's abuse of its functionality. The mutual rights and obligations of the User and the electronic payment system and/or financial institution are governed by the relevant agreements.

7.15. The User guarantees that they are not a citizen or tax resident of the United States of America.

7.16. All funds received by our service more than one month after the order was created pass to 111obmen.com. The Service may subsequently dispose of these funds at its discretion.

7.17. All funds received by 111obmen.com without an order pass to the service.

7.18. A User who provided incorrect requisites for the exchange undertakes to provide correct requisites within one month of creating the order. Otherwise all funds pass to 111obmen.com.

7.19. If the amount received from the User differs from the amount in the order, 111obmen.com may suspend the exchange and, once the User contacts it, pay out the amount actually received at the service's current rate.

7.20. If the service suffers losses due to the client's direct or indirect actions, the client must compensate 100% of the damage caused to the service. All current and future paid orders (payments) pass to the service until the damage is fully covered.

7.21. On the recommendation of the security services of payment systems and of our service's security team, to prevent fraud and damage to our service, processing of the client's order may be suspended for up to 24 hours, after which the order will be executed or deleted.

7.22 Funds sent without an order or by mistake to our requisites are not refundable.

8. Claims and dispute resolution

8.1. Disputes and disagreements arising from the Service's provision of services to the User are resolved through negotiations between the User and the Service administration on the basis of this agreement.

8.1.1. Any claims under this agreement may be accepted by the Service electronically by sending a message describing the claim to the contacts (contacts page) listed on the Service's website.

8.2. If issues cannot be resolved through negotiations, the dispute is resolved in accordance with the laws of the Service's place of registration.

9. Final provisions

9.1. 111obmen.com may send the User, to the e-mail they provided, information about the status of the exchange and other information, including advertising.

9.2. The information on the website, including graphics, text, program code, etc., is the property of 111obmen.com and is protected by copyright law. Any unauthorised copying (in full or in part) may be prosecuted under applicable law.

9.3. Acceptance of this offer means the Payer's unconditional consent to the Service processing the personal data the Payer provides to the Service in order to provide services and to send the Payer informational and advertising messages. Acceptance of the offer means the Payer's consent to the Service collecting, systematising, accumulating, storing, clarifying (updating, changing), using, disseminating (including transfer to third parties), depersonalising, blocking and destroying their personal data, and to automated, mechanical, manual and any other processing of personal data at the Service's discretion. Acceptance of this offer also confirms the Payer's unconditional consent that the completeness, accuracy and correctness of the information provided by the Payer may be verified by the Service and provided by the Service to third parties for such verification.

9.4. The Payer may withdraw this consent at any time by submitting to the Service a statement withdrawing consent to the processing of their personal data. This consent to the processing of personal data is given until the Payer withdraws it.

9.5. The User confirms that they have read all provisions of this Agreement and unconditionally accept them; otherwise the User may not use 111obmen.com.