Terms of Service

Last updated 15/04/2021

General & Scope

Flitz Technologies BV, a company organized and existing under the laws of Belgium, under company registration number BE0766985037 whose registered office is located at Blekerijstraat 75 1.29, 9000 Gent, Belgium (“Flitz Technologies“), offers a platform for buying and selling bitcoin trough the Flitz Technologies mobile and web application (the “App”), whereby the bitcoin are delivered to the User’s Lightning Wallet. The following terms and conditions (the “Terms“) define the rights and obligations of the parties in connection with the use of the Flitz Technologies App, and the Flitz Technologies website accessible at https://flitz.be (the “Website“).

Your consent to these Terms is given once you tick the box in the pop-up window which appears upon your first connection with the mobile or web application and which says “I warrant that I read and understood the Flitz Technologies’s Terms & Conditions regarding the use of the website and application and I agree to be bound by them”.

By ticking the box, you (the “User”) agree to be bound by the Terms, as amended and published on the Website, and to comply with these Terms and all applicable laws and regulations. If you do not agree with the Terms, you should refrain from using the App and/or the Website.

In particular, you acknowledge that you have read and understood the clauses in the Terms relating to Flitz Technologies’s limitation of liability.

By ticking the box, the User agrees to be bound by the Flitz Technologies Privacy Policy, as amended and published on the Website (https://flitz.be/privacy-policy/). If the User does not agree with the Flitz Technologies Privacy Policy, the User should refrain from using the App and/or the Website.

By using the App, the User explicitly warrants that he/she is at least eighteen (18) years old and has legal capacity to contract and that he/she is not barred to use the App or the Website under any applicable law.

The Terms and Privacy Policy may be updated by Flitz Technologies at any time without any prior notice requirement. The current version is published on https://flitz.be/terms-conditions/ and https://flitz.be/privacy-policy/. Always the current version of the Terms and Privacy Policy, as published on the Website, is applicable. Your continued use of the App and/or Website after any such changes, with or without having explicitly accepted the new Terms or Privacy Policy, shall constitute your consent to such changes.

Availability

Flitz Technologies shall endeavour, as far as possible, to keep the App and the Website accessible 7 days a week and 24 hours a day. However, access to the App and the Website may be temporarily suspended due to technical maintenance, migration or updates, or due to breakdowns or constraints in relation with the operation of the internet. Flitz Technologies is not liable for any malfunction or inability to access the App and the Website attributable to third parties, because of unsuitable equipment of the User or because of any other circumstances not attributable to Flitz Technologies.

Although Flitz Technologies intends to provide accurate and timely information on the App and the Website, the App and the Website may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. Accordingly, the User shall verify all information before relying on it, and all decisions based on information contained on the App and the Website are in the sole responsibility of the User and Flitz Technologies shall have no liability for such decisions.

No investment advice

The information on the App and on the Website does not constitute legal, financial or investment advice and is not intended as a recommendation for buying, trading or selling bitcoin. Flitz Technologies recommends to seek advice of legal and financial experts before starting buying, trading or selling bitcoin. The bitcoin price in euro can be volatile. Buying and selling of bitcoin carries with it a high degree of risk. The User should be fully aware of the level of risk involved before trading. Any loss of data, bitcoin or profit is on the User’s sole responsibility. Flitz Technologies will not be responsible for the consequences of reliance upon any opinion or statement contained in the App or Website or for any omission.

There is always the possibility something unexpected happens with regard to bitcoin that causes the User’s bitcoin to be lost. Flitz Technologies strongly recommends to the User not to invest more than he/she is willing to lose. The User is solely responsible for any investment decisions.

Identification of the User

When signing up to the Flitz Application, the User must give the following information:

  • First Name
  • Last Name
  • Nationality

The User needs to reside in a country where Flitz Technologies operates, and must have a bank account in this country. This information is only used to comply with Belgian AML and KYC regulation and will never be shared with 3rd parties for any purposes other than when requested by law enforcement in relation to criminal investigation.

Then Flitz Technologies receives a payment from the User, the payment information shall be compared to this information submitted by the user. If this information is found to be incorrectly submitted, Flitz Technologies reserves the right to close the User’s account and hold onto the funds sent by the User. If this is the case, the User can contact support, who will review these accounts on a case by case basis, and have full discretion to take any action deemed appropriate, such as reactivating the account, terminating the account, updating the account information, or reimbursing the User.

Purchase of bitcoin

General

Flitz Technologies enables the User to purchase bitcoin as a one-time purchase or on a monthly, weekly or daily basis by placing a recurring order with the User’s bank. The one-time or recurring purchase amount is specified in advance by the User. The one-time or recurring order must be placed in Euro (EUR).

Purchase and withdrawal process

  • When sending funds in any way to Flitz Technologies, the User agrees to do this only from a bank account on their personal name. The user must reference the correct account id in the payment description. Once the first payment is made from a bank account, this bank account IBAN is considered fixed for the user, and sending payments from other bank accounts will not be processed. In this case Flitz Technologies reserves the right to deactivate the User’s account, hold onto the funds, or to review the User’s account. In the event of such a review, a decision may be made to reimburse the User in euro, but this is subject to a case-by-case evaluation.
  • Once the User sends EUR to Flitz Technologies, either through a SEPA transfer to our bank account or a payment made through one of our supported payment providers, Flitz Technologies will immediately use these funds to buy bitcoin on behalf of the User on one of our partnered exchanges. The bitcoin price and fee of this purchase are at the sole discretion of Flitz Technologies, but a very high effort is made to ensure that the bitcoin price is as close to the market price at the time of the purchase. The fees related to the purchase can be found on (https://flitz.be/faq).

  • The user is then notified of the purchase through various channel, which may include mobile notifications, e-mail, and other electronic communication channels.

  • The user is then expected to withdraw the bitcoin immediately to their own “Lightning” wallet. For a list of supported wallets see (https://flitz.be/faq), but through the Flitz Web client, all Lightning wallets are supported that can generate a Lightning Invoice. In doing this, the User sends Flitz Technologies a Lightning invoice, as described in the Bolt Specification.

  • Flitz Technologies will then pay the Lightning invoice provided by the User. In case of succes, the transaction is considered completed and the User is now in complete control of the funds. Flitz Technologies no longer has any control over the funds and will not be held liable or responsible for loss of the funds or any unlawful use of the funds after the Lightning transaction has succesfully completed. In case of a failed transaction, the user may retry to complete the transaction. A succesful Lightning transaction can be characterized by the fact that we (Flitz Technologies) has knowledge of the preimage corresponding to the invoice send by the User in the previous step.

  • The purchase of bitcoin is subject to monthly limits, which can be found on (https://flitz.be/faq).

Flitz Technologies provides links to 3rd party services inside the Flitz App. The User agrees that Flitz Technologies is in no way responsible for the result of any interaction between the User and these 3rd party services, including a loss of funds.

Cancellation, refusal of purchase orders

The purchase of bitcoin through the Flitz Technologies Web App is final, and there are no refunds or cancellations. By placing a purchase order for bitcoin, the User makes a binding offer to purchase the bitcoin chosen by the User.

However, the User is able to withdraw the one-time or recurring order at any time with his/her bank according to the bank terms and conditions and no more investments into bitcoin will be made.

Termination of service

The User may at any time, at its sole discretion, terminate the one-time or recurring order with his/her bank or stop using the App. There is no minimum investment term. It is in the sole discretion of the User whether he/she wants to continue to use the App or not.

Flitz Technologies may also terminate its services for the User at any time for any reason, at its sole discretion. Such actions may be taken if Flitz Technologies deems that the User has breached the Terms in any manner. Additionally, Flitz Technologies may at any time, at its sole discretion, cease the operation of the service or any part thereof, temporarily or permanently, without giving any prior notice. The User agrees and acknowledges that Flitz Technologies does not assume any responsibility nor liability with respect to, or in connection with, the termination of the services provided on the Website or with the App.

Taxes

It is in the sole responsibility of the User to determine whether, and to what extent, any taxes apply to any transactions he/she conducts through the App, and to withhold, collect, report and remit the correct amount of tax to the appropriate tax authorities. The User’s transactions history is available on the App.

Warranties

By using the Website or the App, the User warrants that:

  • The User has a good understanding of the English language (or any other language the Website, the App, these Terms will be translated to), and has read and understood these Terms;
  • The User has obtained sufficient information about bitcoin to make an informed decision to purchase the bitcoin;
  • The User has carried out an examination as to whether bitcoin meet the User’s own requirements regarding the User’s own objectives, risk appetite, experience and/or knowledge;
  • The User’s purchase of bitcoin complies with applicable law and regulation in the User’s jurisdiction; and
  • if the User is purchasing bitcoin on behalf of any entity (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, (ii) the User is duly authorized by such legal entity to act on its behalf and to accept these Terms, and (iii) such entity will be responsible for breach of these Terms by the User or any other employee or agent of such entity.

Intellectual property rights

Flitz Technologies is the sole owner of all intellectual property rights related to the Website and the App. Any content presently displayed or made available by Flitz Technologies in the future, such as text, logos, images, music, digital downloads, and data compilations, is the property of Flitz Technologies, its affiliates or its suppliers, and is protected by Swiss and international intellectual property law. Flitz Technologies’s names and logos are trademarks of Flitz Technologies. Flitz Technologies’s trademarks and logos may not be used for products or services that are not respectively manufactured or offered by Flitz Technologies, or in any way that could cause confusion in the public, or in any way that disparages or discredits Flitz Technologies.

Accordingly, the User agrees not to reproduce, represent, extract and use in any way any or all of Flitz Technologies’s trademarks, logos, Website or services.

Limitation of liability

To the fullest extent permitted by law, any liability by Flitz Technologies or any person acting on behalf of Flitz Technologies are herewith excluded. Flitz Technologies disclaims any and all liability for loss of profits, income, value or data, or indirect, special, consequential, exemplary or punitive damages.

In particular, the User expressly agrees that in no event Flitz Technologies or any person acting on behalf of Flitz Technologies will be liable for any loss or damages incurred as a result of errors, technical or otherwise, transmission failures, system overloads, usage problems, interruptions in services (including but not limited to system maintenance services), any delay in the transmission of information, incompatibility between the Website and your files and/or software (in particular your browser) and/or computer, malfunction, interference, the transmission of a virus onto your computer or mobile phone, unauthorized access (as a result of hacking or piracy activities, for example), loss of devices, accidental deletion of data, or any other failure or inadequacy on the part of telecommunication or network service providers, or the User themselves.

The User is aware that Flitz Technologies is not managing nor responsible of the bitcoin associated blockchain.

In no event will the aggregate liability of Flitz Technologies, whether in contract, warranty, tort (including negligence, whether active, passive or imputed), or other theory, arising out of or relating to these terms or the use of the App, exceed the amount you invested in bitcoin through the App.

Severability

If any term or provision of these Terms is invalid, illegal or unenforceable in any jurisdiction, it will be so held to the minimum extent required by law and such invalidity, illegality or unenforceability shall not affect any other term or provision these Terms or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon a determination that any term or provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify these Terms to effect the original intent of the parties as closely as possible in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.

Applicable Law and Jurisdiction

These Terms and the use of the Website and the App will be governed by, and construed and enforced in accordance with the laws of Belgium without giving effect to any choice or conflict of law provision or rule. Any Dispute arising out of or relating to these Terms and the use of the Website and the App, including disputes on its conclusion, binding effect, amendment and termination, shall be resolved by the ordinary courts in Gent, Belgium.

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