Terms of Sale of Bitcoin SV

PLEASE READ THIS END-USER AGREEMENT CAREFULLY. BY USING THE CENTBEE WEBSITE (THE “SITE”) AND APPLICATION (THE “APP”), YOU (THE “USER”) ARE INDICATING YOUR ACCEPTANCE TO BE BOUND BY THE TERMS AND CONDITIONS OF THIS END-USER AGREEMENT.

1.DEFINITIONS:

  1. ‘Consideration’ – the Consideration payable for the purchase of BSV shall be the amount of South African Rands that the user wishes to convert to BSV.
  2. ‘BSV’ – means ‘Bitcoin’,  ‘Bitcoin Satoshi Vision’, or ‘Bitcoin SV’, and these terms shall be interchangeable.
  3. ‘Quoted Quantity’ – shall be the quantity of BSV that Centbee offers User for purchase, having regard to the amount of Consideration bid by User, after deduction of applicable fees; and shall be calculated as follows:
    (Consideration net of fees) divided by (‘Quoted Exchange Rate’).
  4. ‘Quoted Exchange Rate’ – shall be the rate of exchange as quoted by Centbee and shall be the amount of South African Rands required by the User to purchase one (1) BSV i.e. ZARBSV. This exchange rate shall be calculated as a function of ZARUSD and USDBSV as quoted on major foreign currency and cryptocurrency exchanges globally and shall be in close approximation thereof.
  5. ‘Deposit’ – the term ‘Deposit’ shall have the meaning prescribed to it as per The Bank’s Act (Act No. 94 of 1990).
  6. ‘Centbee’ means ‘Centbee (Pty) Ltd’.

2.By accepting this Sales Contract, you as the ‘User’ agree to Centbee’s Terms of Use policy and End-User Agreement, as published on the website www.centbee.com from time to time.

3.By accepting this Sales Contract, you as User agree to purchase Quoted Quantity of BSV for agreed upon Consideration.

4.The agreed upon Consideration shall immediately be payable upon acceptance of this Sales Contract and fulfilment of suspensive condition contemplated in paragraph 5.

5.This Sales Contract shall include a suspensive condition, the condition being the requirement of User to accept Quoted Quantity. Should User not accept Quoted Quantity offered for sale, this Sales Contract shall be deemed not to have come into existence and Centbee shall return any Consideration to User.

6.The User accepts that any transference of any Consideration to Centbee shall not constitute a Deposit as defined under paragraph 1(e), and accordingly the non-fulfilment of suspensive condition contemplated in paragraph 5, which might require Centbee to return funds to User, will not constitute a Deposit as defined.

7.By accepting this Sales Contract, you as User acknowledges and accepts the risks associated with purchasing BSV or cryptocurrency and assert to understand that BSV trades on the open market and is susceptible to periods of high price volatility and may result in sudden losses of some or all of your BSV or the Rand equivalent thereof.

8.By accepting this Sales Contract, you agree that nothing contained in this Sales Contract constitutes any Financial Advice of any kind whatsoever, and you as User accepts fully the consequences of your actions, whether made in error or otherwise.