Terms Of Use

By using this Site, and further by registering to use our Service, you ("You, Your or Yourself") are agreeing to accept and comply with the terms and conditions of use stated below ("Terms of Use"). You should read the entire Terms of Use carefully before you use this web site ("Site") or any of the services of this Site or our mobile application. As used herein, "Kaara" refers to the company Greenov8 Global Platforms Limited, including without limitation thereby, its owners, directors, investors, employees or other related parties. Depending upon context, "Kaara" may also refer to the services, products, Site, content or other materials (collectively, "Materials") provided by Kaara. The Service operated by Kaara allows buyers ("Buyers") and sellers ("Sellers"), to buy and sell the Foreign Exchange currency known as "Forex".

The Service operated by Kaara also allows all registered users of the Service ("Members") to:
• Transfer Forex to you or other Members or other users of forex outside the Kaara ecosystem

Depending on Your country of residence, You may not be able to use all the functions of the Site. It is your responsibility to follow those rules and laws in Your country of residence and/or country from which You access this Site and Services. As long as you agree to and actually comply with these Terms of Use, Kaara grants to you a personal, non-exclusive, non-transferable, non-sublicensable and limited right to enter and use the Site and the Service.

IF YOU DO NOT ACCEPT THE TERMS OF USE AND CONDITIONS OUTLINED IN THIS AGREEMENT, DO NOT ACCESS THIS SITE AND DO NOT USE THIS SERVICE.

By opening an account to use the Service ("Account"), You expressly represent and warrant: 1. You have accepted these Terms; and 2. You are at least 18 years of age and have the full capacity to accept these Terms and enter into a transaction involving Bitcoins.

LIMITED RIGHT OF USE

Unless otherwise specified, all Materials on this Site are the property of Greenov8 Global Platforms (Kaara) and are protected by copyright, trademark and other applicable laws. You may view, print and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices.

The trademarks, service marks and logos of Kaara and others used in this Site ("Trademarks") are the property of Kaara and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Site belong to Kaara. The Trademarks and Material should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties.

MAINTAINING YOUR ACCOUNT: OUR RULES

This Site is for your personal use only. We are vigilant in maintaining the security of our Site and the Service. By registering with us, you agree to provide Kaara with current, accurate, and complete information about yourself as prompted by the registration process, and to keep such information updated. You further agree that you will not use any Account other than your own, or access the Account of any other Member at any time, or assist others in obtaining unauthorized access.

The creation or use of Accounts without obtaining the prior express permission from Kaara will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and Kaara may elect to take further action against You.

You also are responsible for maintaining the confidentiality of Your Account information, including your password, safeguarding your own Funds in Kaara’s Wallet, and for all activity including Transactions that are posted to Your Account. If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from You, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests, or accept termination of Your Account. You are required to notify Kaara immediately of any unauthorized use of Your Account or password, or any other breach of security by email addressed to support@greenov8.com. Any Member who violates these rules may be terminated, and thereafter held liable for losses incurred by Kaara or any user of the Site. Finally, You agree that You will not use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking. We will report all criminal activities to the law enforcement agencies.

TERMINATION

You may terminate this agreement with Kaara, and close Your Account at any time, following settlement of any pending transactions.

You also agree that Kaara may, by giving notice, in its sole discretion terminate Your access to the Site and to Your Account, including without limitation, our right to: limit, suspend or terminate the service and Members' Accounts, prohibit access to the Site and its content, services and tools, delay or remove hosted content, and take technical and legal steps to keep Members off the Site if we think that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Members for any reason, including without limitation:

  1. Attempts to gain unauthorized access to the Site or another Member\'s account or providing assistance to others' attempting to do so.
  2. Overcoming software security features limiting use of or protecting any content. Usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities.
  3. Violations of these Terms of Use.
  4. Failure to pay or fraudulent payment for Transactions.
  5. Unexpected operational difficulties.
  6. Upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Kaara, acting in its sole discretion.
  7. Use any tools or softwares to conceal identities or having abnormal or unclear activities.

We also reserve the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue our Site or Service or request to verify information to be able to continue using the Service. Members agree that Kaara will not be liable to them or to any third party for termination of their Account or access to the Site.

Unless with an acceptable reason, one person ID number is allowed to open one account only. We will close all other accounts and keep one active account only.

The suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Members shall communicate a valid bank account to allow for the transfer of any currencies credited to their account. Said bank account shall be held by the Member. Foreign currencies may be transferred to a valid bank account only after conversion into a local currency. Kaara shall transfer the currencies as soon as possible following the Member\'s request in the time frames specified by Kaara.

Kaara will send to you the credit balance of your account, however in circumstances a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. We will use reasonable efforts to ensure that such charges are disclosed to you prior to sending your payment, however where they cannot be avoided, you acknowledge that these charges cannot always be calculated in advance, and that you agree to be responsible for such charges.

AVAILABILITY

All services are provided without warranty of any kind, either express or implied. We do not represent that this Site will be available 100% of the time to meet your needs. We will strive to provide you with the Service as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information.

We will use reasonable endeavors to ensure that the Site can normally be accessed by You in accordance with these Terms of Use. We may suspend use of the Site for maintenance and will make reasonable efforts to give you notice. You acknowledge that this may not be possible in an emergency.

EXTERNAL WEB SITES

Kaara makes no representations whatsoever about any other Site which you may access through this Site. The Site may provide links or other forms of reference to other websites ("External Web Sites") or Resources over which we do not have control ("External Web Sites"). In such case you acknowledge that Kaara is providing these links or references to you only as a convenience. Kaara is not responsible for the availability of, and content provided on, third party Sites. You are requested to review the policies posted by other Sites regarding privacy and other topics before use. Kaara is not responsible for third party content accessible through the Site, including opinions, advice, statements, prices, activities and advertisements, and you shall bear all risks associated with the use of such content. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, Trojan horses and other items of a destructive nature.

FINANCIAL ADVICE

For the avoidance of doubt we do not provide any investment advice in connection with the Services contemplated by these Terms of Use. We may provide information on the price, range, volatility of foreign currencies and events that have affected the price of forex but this is not considered investment advice and should not be construed as such. Any decision to purchase or sell forex is Your decision and We will not be liable for any loss suffered.

FINANCIAL REGULATION

Our business model, and our Service, consists of facilitating the buying, selling and trading of forex and their use to purchase/exchange goods in an unregulated, international open payment system.

EMAIL

Email messages sent over the Internet are not secure and Kaara is not responsible for any damages incurred by the result of sending email messages over the Internet. We suggest sending email in encrypted formats; you are welcome to send PGP encrypted emails to us. The instructions and keys to do so are available upon request.

LIMITATION OF LIABILITY

To the extent permitted by law, Kaara will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arising from negligence or willful deceit or fraud. Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded.

Subject to the foregoing, Kaara's aggregate liability in respect of claims based on events arising out of or in connection with any single Member's use of the Site and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) total amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).

FROZEN ACCOUNT

We are allowed to block or freeze the customer's account when the conditions are met: the request of the government authorities in accordance to the law; a mistake found in the fund of the customer's account or at the request of the money transfer service supplier; upon suspicion of fraudulent activities or law violations; notification from one of the other users about trades. All funds from accounts related to fraud, law violation or be unable to clarify the suspicious activities will be seized totally. The fund will be used to compensate the victims directly. In case the amount of money collected is less than the sum of all the victims, all the money will be distributed to the victims at the rate of damage.

INDEMNITY

To the full extent permitted by applicable law, You hereby agree to indemnify Kaara, and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of Kaara's Websites or Mobile Application, Your use of the Service, or from your violation of these Terms of Use.

MISCELLANEOUS

If We are unable to perform the Services outlined in the Terms of Use due to factors beyond our control including but not limited to an event of Force Majeure, change of law or change in sanctions policy we will not have any liability to You with respect to the Services provided under this agreement and for a time period coincident with the event.

MODIFICATION OF TERMS

Kaara reserves the right to change, add or remove portions of these Terms, at any time, in an exercise of its sole discretion. You will be notified of any changes in advance through your Account. Upon such notification, it is your responsibility to review the amended Terms. Your continued use of the Site following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms.

DEFINITIONS

Forex: means the Peer-to-Peer exchange of foreign currencies from the base local currency.

Buyer(s): means Member(s) that are submitting an offer to buy forex through the Service.

Commission: refers to the fee which is payable to Kaara on each Transaction, such as a forex Purchase Transaction.

Member(s): means Buyers and Sellers as well as any holder of an Account.

Price: means "price per forex" for which Members are willing to purchase or sell forex, using theService in a forex Purchase Transaction. The Price may be expressed in any of the currencies deposited by Members in their account and supported by the Service.

Seller(s): means Member(s) that are submitting an offer to sell forex through the Service.

Service(s): means the technological platform, functional rules and market managed by Greenov8 Global Platform Limited. to permit Sellers and Buyers to perform purchase and sale transactions of forex.

Transaction: means
(i) the agreement between the Buyer and the Seller to perform forex transaction through the Service for currencies at a commonly agreed rate ("Forex Purchase Transaction"),
(ii) the conversion of local currency into forex deposited by Members on their account ("Conversion Transaction"),
(iii) the transfer of forex among Members ("Forex Transfer Transaction"),
(iv) the transfer of currencies among Members ("Currency Transfer Transaction") and
(v) the purchase of ancillary products ("Purchase Transactions"). Kaara may not offer all of these types of transactions at this time or in all places.

Transaction Price: means the total price paid by the Buyer in respect of each Transaction performed through the Service.

Logo

Kaara is a marketplace that connects and facilitates money exchange and settlement for people looking to swap their currencies. The features on Kaara allow users easily and instantly exchange currency in the open market without fear of losing funds to the other party that he/she wants to exchange funds with. The entire exchange process is done through a controlled, transparent and secured virtual wallet account owned by the users.

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