1. Legal provision on aspects of functioning of Electronic Payment System Vexa

1.1 Present provision regulates the activity of SR & I. Company (hereinafter referred to as “Company”) within the frames of the existing international law

1.2 Provision aims to determine the main aspects of Company activity and legal ground used as the basis for activity of Vexa Payment System which acts in the market under “Vexa” trade mark.

2. Place of Registration of Company

2.1 Vexa is registred in Great britain .

3. Company Activity

3.1 Company provides its Customers with the opportunity to use virtual currency called Vexa.

3.2 Company reserves a right to change cross-rate of the real currency and its equivalent within the System without notifying customers. But on default it is necessary to correlate the real currency and its e-equivalent in the ratio of 1:1. The initial correlation at depositing money into an account rounds the cross-rate down regarding the volume of the electronic equivalent in view of charging commission fees at depositing of funds.

3.3 Company deals with such transaction formats as: B2B, B2C, C2B, P2P.

3.4 Company functioning in the market under the trademark of Vexa  provides its customers with opportunities to  transfer money from one account into another in formats specified in item 2.3., use our electronic currency.

3.5 There is an opportunity to buy our digital currency against other electronic equivalents or precious metals into external company. 

3.6 Company provides an opportunity to send Vexa at the lowest fees possible without asking paper..

3.7. Purchase Vexa can be perform on external company.

3.8 The System provides an opportunity for the persons involved in electronic commerce to receive payments for goods and services in Vexa currency (hereinafter referred to as “Vexa”), by installing the System Merchants on their electronic trade sites.

3.9 At conduction of on-site transactions the whole activity of Company is based in accordance with home laws of the country where the commercial organization operates.

4. Safety of the user, confidentiality of the personal data and performed transactions

4.1 Use of the System begins from filling the registration fields where the user should specify some personal data. To speed up the process a customer is strongly recommended to enter valid information.

4.2 The personal data entered by the user is necessary for his/her identification in the System, increasing the security level of the System and communication for rendering services or conducting transactions.

4.3 With the purposes listed in item 4.2 the System asks the Internet user who has expressed his willingness to register with Vexa, to enter the following data: Name, resident city, address, country, state (if present), ZIP code, e-mail address, and telephone/fax.

4.4 Personal data of the user are available only to Company personnel and are not provided to the third parties.

4.5 Personal data of the user can be provided to the third parties such as national security agencies but only with a court decision.

4.6 Blocking of the System customer’s account on the initiative of third parties is possible only with a court decision.

4.7 Use of some security tools in the System implies the indication of some personal data (telephone in SMS-authentication service). As a result the customer has a right to determine the security level for himself individually by regulating the scope of personal data provided for the System.

5. Legality of Transactions performed in the System

5.1 All financial transactions performed in the System should be legal.

5.2 All transactions in the System are checked for non-participation in terrorist activities by residents of any country, the IP of which was registered in the System.

6. Transactions

6.1 Company does not conduct investment business with the funds received into the System from customers. Such policy is conducted to increase level of security and safety of Vexa  customers’ funds.

7. Legitimateness of Provision

7.1 The legitimateness of the present Provision is determined by the norms of the international law.

7.2 The present provision can be changed, supplemented or shortened as a result of an international law change in the areas of bank services, financial transactions, electronic commerce or digital signature.

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