Terms of Service
Effective September 30, 2022
Welcome to our Taki Terms of Service (“Terms”). These Terms are provided by Taki Network Pte. Ltd. and our affiliates (referred to as “we”, “us”, “our” and “Taki”) and govern your use of this and our other websites, webpages, platforms, applications, products and services (collectively, our “Site”). Throughout these Terms, we will refer to you as “you” and “User”.
By using, visiting, accessing, linking your private wallet, or registering an account with the Site (where applicable), you agree to accept and be bound by the terms and conditions set out in these Terms and the policies referenced herein and/or available by hyperlink. Please read these Terms carefully and in their entirety.
You acknowledge and agree that our provision of the Site and related services to you is conditional on your agreement to these Terms.
You agree that by clicking “Sign Up”, “Login”, “Exchange”, “Convert”, “Swap” or any similar buttons or accessing, registering or using our services in any way, you are entering into a legally binding agreement with us. By doing the above, you also agree that you have accepted our Privacy Policy, and other terms that may be displayed to you at the time you access the Site.
IMPORTANT NOTICE – LIMITATION OF LIABILITY, WAIVER OF REPRESENTATIVE ACTION PROCEEDINGS, & ARBITRATION REQUIREMENT: THESE TERMS CONTAIN PROVISIONS THAT LIMIT OUR LIABILITY TO YOU AND REQUIRE YOU TO RESOLVE ANY DISPUTE WITH US THROUGH FINAL AND BINDING ARBITRATION ON AN INDIVIDUAL BASIS, WHICH MEANS THAT YOU WAIVE AND WILL NOT HAVE THE RIGHT FOR A JUDGE OR JURY TO DECIDE YOUR CLAIMS, IF ANY, AND THAT YOU MAY NOT PROCEED IN A REPRESENTATIVE ACTION OR OTHER CONSOLIDATED OR REPRESENTATIVE CAPACITY. SEE “DISCLAIMERS OF WARRANTIES & LIMITATIONS OF LIABILITY” AND “DISPUTE RESOLUTION” BELOW FOR MORE INFORMATION.
You may have the opportunity on our Site to earn, buy, trade, donate, exchange and otherwise use various digital currencies, non-fungible tokens and other assets, including assets native to Taki like TAKI and User Coin, the user-branded social token (“Digital Assets”). As with any asset, the value of Digital Assets can go up or down, and there can be a substantial risk that you lose value buying, trading, donating and exchanging Digital Assets. You should carefully consider whether trading or holding Digital Assets is suitable for you in light of your financial condition. Taki is not registered with any securities commission and does not offer securities services in any jurisdiction.
Certain portions, features, or functionalities of the Site may be subject to different or additional terms, rules, guidelines or policies (“Additional Rules”), and we may provide such Additional Rules to you via postings, pop-up notices, links, or other means at the time that you access or use the relevant area, feature or functionality. From time to time, such Additional Rules may conflict with this agreement; in the event of such a conflict, the Additional Rules will control.
1. Changes to our Site
We may update our Site often, and the effective date of these Terms will be included at the top of this webpage. You acknowledge and agree that we may change or discontinue any part of our Site, products and services at any time, with or without notice to you. Your continued use of the Site after the Effective Date constitutes your acceptance of any amended Terms. The amended Terms supersede all previous versions of the Terms. You are solely responsible for reading and keeping up to date with the latest version of the Terms. For this reason, we encourage you to review these Terms any time you access or use the Site and to print out a copy of these Terms for your records. If you have any questions about these Terms, please send an email to support@taki.app.
2. Account Creation
We will need some information from you to get you set up with an account on our Site, including your name and your contact information, like your mobile phone number, email address and social media and social messaging handles. The information that you provide may be subject to additional verification. You may be able to access the Site by logging in with your social media accounts or linking to other social media platforms, in which case such accounts and platforms may pass such information directly to us. You agree that you will provide us with accurate, true, and complete information about yourself whenever you are prompted to provide us with information, and that you will update such information whenever it changes. Your failure to do so may constitute a breach of these Terms.
You agree that you will maintain the security of all information that you provide to us, and that it is solely your responsibility to keep your username, passwords, devices used to access the Site, and all other materials secure and confidential. We assume that any transaction initiated or activity that takes place through your account using your credentials is authorised by you. You agree that your account will be used by you only and will not be shared with or transferred to others. If you become aware of any unauthorised access to your account or any transaction made through your account that was not authorised by you, it is your responsibility to let us know immediately by contacting us at support@taki.app. It is important that you regularly check your account to ensure that all activity that occurs on it was authorised by you. We are not liable for any damages or losses that you incur due to unauthorised access, unless you have notified us immediately as indicated above. You may not sell or otherwise transfer your account or any portion thereof.
3. Eligibility
If you access or use our Site, you represent and warrant that (i) you are not a U.S. person or a resident of the U.S., (ii) you are at least 18 years of age, (iii) you are legally competent and able to be bound by and comply with these Terms, and (iv) you have not been previously restricted or banned from using our Site for any reason. If you are unable to make these representations and warranties or don't agree to any part of our Terms, you may not access or use our Site. If you are under 18 years of age, and you are interested in being a user on our site, you may only sign up through your parent or legal guardian.
4. Digital Assets
Digital Assets are not legal tender and are not backed or insured by any government. While the Site may provide information about the estimated value of Digital Assets, including TAKI and User Coin, and may include information about their historical value, the fiat value of all Digital Assets are subject to volatility and change, and Digital Assets could lose their value, both on an individual as well as a network-wide basis. Taki does not directly control and is not responsible for the value of any Digital Assets and makes no guarantee, express or implied, of their value in fiat. In addition, Digital Assets that you may use on the Site may not be freely tradable or exchangeable outside of the Site. You acknowledge and agree that any purchase of or transaction in Digital Assets conducted by you or on your behalf is made voluntarily, willfully, and exclusively at your own risk.
In addition, you acknowledge and agree that Taki does not offer securities-related services in any jurisdiction. You also acknowledge and understand that Taki is not a money transmitter and works with third party licensed money transmitter and compliance services entities to conduct regulated transactions, if any. Taki does not provide investment, financial, tax, or legal advice. The information and applications provided in connection with the Site do not constitute investment advice, financial advice, trading advice, or any other sort of advice or recommendation, and should not be treated by any user as such.
5. Transactions; Limitations
You will be able to purchase User Coin through the Site and may have the opportunity to use User Coin to purchase or redeem other Digital Assets, or engage in various transactions with mainnet protocols. You may be charged fees for certain transactions, and if so, such fees will be disclosed to you. In addition, you may be required to provide information prior to the completion of a transaction for purposes of identity verification and detection and prevention of fraud, money laundering, terrorist financing and other financial crimes. Taki reserves the right to cancel or reject any transaction for which you provide incomplete or incorrect information, or that you do not confirm within a reasonable time following your initiation of the transaction.
You may be able to bring Digital Assets, including TAKI and sRLY from your mainnet cryptocurrency wallet, to the Site. You may also be able to move your TAKI and sRLY from your Site account to your mainnet cryptocurrency wallet.
PLEASE NOTE: Your ability to use all features on the Site may be limited, depending on your place of residence. Because of jurisdictional restrictions, while you may be able to purchase TAKI and User Coin, move your sRLY from your personal wallet to the Site, and otherwise interact with the Site, you may be restricted from certain other transactions, including transferring your TAKI or sRLY to your public address, and, accordingly, any value you hold or acquire on the Site will be locked. Please contact support@taki.app for further information.
You warrant that you will comply with any and all rules, regulations and/or applicable laws and regulations governing the practice of law in your jurisdiction in connection with the use of the Site, including the ownership and transfer of cryptographic tokens.
6. Third Party Services
You acknowledge that certain third party services may be accessible via and/or required for use of the site. These third party services providers may include: third party cryptocurrency exchange partners, transaction and payment processors, payment services providers, compliance services providers, custodial services providers, wallet operators, authentication services providers and application developers. You hereby consent and authorise us to delegate the authorisations you provide to us to such third party services providers as we deem necessary to provide any services to you and/or to operate the Site. You agree that we are not in any way associated with the owner or operator of any third party services or responsible or liable for the services and content offered by them or for anything in connection with such third party services. Notwithstanding the fact that such third party services may be listed on or accessible via our Site, we do not endorse or approve and make no warranties, representations or undertakings relating to the service or content of any third party services. Such third party services providers may charge certain transaction fees. You acknowledge and agree that we may earn fees from such third party services providers in connection with your use of such third party services. You agree that you will provide us with all the information that we reasonably request, and that if you register with a third party services provider designated by us, you will provide all information required by such third party services provider in order to process payments or transactions. It is your responsibility to ensure that all information provided to us and to any third party services provider is accurate, true and complete. In addition, you agree that your account with any third party services provider is subject to all terms, conditions and privacy policies of such provider. You agree that you are solely responsible for payment of the fees, costs and expenses of a third party services provider in connection with your transaction that may be incurred by you and, in some cases, deducted from your payments. We are not responsible for any delay, failure, damage, or liability caused by a third party services provider, any other third party, a force majeure, or your failure to timely or properly provide us with requested information, or, with respect to third party services providers, your failure to timely or properly set up an account with the payment services provider or otherwise provide requested information for completion of a transaction. If Taki believes that fraud or attempted fraud, circumvention of any of these Terms or the Privacy Policy, or any violation of law or regulation is taking place with respect to any payment or transaction, we are entitled to and may take action to withhold, delay, or cancel the transaction, or seek repayment of payments associated with such fraud or violations, in our sole discretion. You hereby expressly waive and release any and all claims, actions or otherwise which you have or may in the future have against us, our affiliates, and our respective directors, officers, employees, agents, representatives, shareholders, successors and assigns which may arise from your use of or reliance on any third party services providers and/or third party services, including any damage or loss arising in relation to:
- your use or access of third party services (whether incorporated into our services, accessed via our Site or otherwise);
- any information that you may provide to such third party services providers;
- any transaction conducted with or through the third party services;
- any failure of any information, software or services posted or offered by such third party services providers;
- any error, omission or misrepresentation by such third party services providers; or
- any computer virus arising from or system failure associated with the third party services.
7. Tokens
If you earn, buy and otherwise receive User Coin, TAKI or sRLY on the Site, Taki will record these User Coin, TAKI and sRLY as held in your account. You will bear all risk of loss with respect to such tokens. Taki will have no liability for any change or fluctuation in the value of any such User Coin, TAKI or sRLY.
8. User Representations and Warranties
By using the Site, you represent and warrant the following:
All registration information you submit is true, accurate, current, and complete, and you will maintain the accuracy of such information and promptly update such registration information and/or notify us of such new information as necessary;
You will not create a false identity, create a false account or accounts, create multiple accounts, or impersonate any person or organisation;
You will only use one account to earn tokens within the Site;
You will not access the Site through automated and non-human means, whether through a bot, script or otherwise to access, collect data, damage, disrupt or interfere with uses of our Site or systems, or transmit any virus, worm, Trojan or other malware or spyware to or through the Site;
You will not modify, adapt, sublicense, translate, sell, reverse engineer, decompile or disassemble any portion of any of the Site, or copy or obtain information from our site for competitive purposes;
You will not use the Site for any illegal or unauthorised purpose, and your use of the Site will not violate any applicable law or regulation, and no further consent or approval from any governmental authority is required in connection with your use of the Site. Even if there are additional requirements or restrictions related to such use of the Site, you agree to comply with, and shall be solely responsible for complying with, any such laws or regulations;
Your use of the Site does not implicate or otherwise give rise to any legal or regulatory obligations on our part in respect of the laws of your relevant place of domicile and jurisdiction;
You own or possess all rights needed to grant the licence and other rights that you've granted in these Terms, and your compliance with these Terms will not violate any agreement or terms that you have agreed to with any third party;
Your User Materials and Submissions (both defined below) are not confidential or proprietary, and they do not infringe, misappropriate, or otherwise make unauthorised use of any intellectual property, privacy, publicity, moral, or other rights of any third party;
You will not engage in actions that are abusive, racist, sexist, discriminatory, harassing, harmful, threatening, hateful, derogatory, pornographic, indecent, profane, obscene, or otherwise objectionable;
You will not take actions to abuse or manipulate token rewards, including actions to earn more rewards than are intended on a per individual basis, such as intentionally or repeatedly posting content of low quality or otherwise taking actions that are detrimental to the community or the token rewards system;
You will not use the Site for commercial purposes or to advertise third party products or services other than Taki's products and services, unless specifically approved by us;
You are not a convicted sex offender; and
You have not been included in any trade embargoes or economic sanctions list.
Your breach of any of these representations and warranties will constitute a breach of these Terms. Determination of whether or not you have breached any representation or warranty will be made at our sole discretion. If you breach these Terms, we have the right to suspend or terminate your account and refuse any and all current or future use of the Site, and your rewards, Digital Assets and account balances may be forfeited.
9. User Materials
We will need some information from you to get you set up and onboarded with User Coin and to maintain or improve your profile. We may ask you for your name, your screen name, alias or preferred nickname, your contact information, including your email address and social media and social messaging handles, and your headshot, bio and description of your skills, specialisations or profession to be used to create and maintain your profile, as well as other information that may be relevant to getting you set up. We may ask you for additional information from time to time to improve your profile, the Site or to help promote the Site or your involvement with Taki. All materials that you provide to us during the user onboarding and maintenance process are included in the definition of User Materials, defined further below in this Section. Please note that you will not be able to have your profile or User Coin featured on our Site until you have provided us with all requested materials. You agree that you will provide us with accurate, true, and complete information about yourself whenever you are prompted to provide us with information, and that you will update such information whenever it changes.
You agree that by participating on our Site as a user, you grant us a non-exclusive, worldwide, irrevocable, unlimited, sublicensable (through multiple tiers of sublicenses), perpetual, royalty-free, fully paid licence to reproduce, copy, distribute, publicly display, publicly perform, edit, host, store and otherwise use your name, nickname, handle, logo, symbol, initials, likeness, image, photograph, animation, avatar, autograph, voice, statements or quotes, recorded video portrayal, live streams or related recordings, public persona, biographical information, back-story and related materials (“User Materials”), and create derivative works thereof, in physical and/or digital embodiment of User Materials in any and all media and distribution channels, whether now known or hereafter invented, to be used for commercial, marketing, promotional and development purposes for our Site. The purposes for which your User Materials or derivative works thereof may be used may include creating a profile for you or featuring you as a user for other Taki products, applications and websites, and enabling our sublicensees to create products related to or integrated with Taki or other Taki products, applications and websites for commercial, marketing, promotional and development purposes. You agree that the User Materials are non-confidential, non-proprietary, and do not contain or include any information which you do not have the right to disclose or that you do not wish to be disclosed.
10. Content
The Site contains copyrighted material, trademarks and other proprietary information, including videos, comments, articles, information, data, text, software, photos, and graphics ("Content"). This Content is subject to copyrights owned by Taki, its affiliates, and/or its licensors, and is protected by United States and international intellectual property laws. You may not either directly or through the use of any device, software, internet site, web-based service, or other means, modify, publish, transmit, stream, upload, display, participate in the transfer or sale, create derivative works, or in any way exploit the Content of the Site or any portion of such Content except as expressly provided herein. You may not use any data mining, robots, or similar data gathering and extraction tools on the Content, frame any portion of the Site or Content, or reproduce, reprint, copy, store, publicly display, broadcast, stream, transmit, modify, translate, port, publish, sublicense, assign, transfer, sell, loan, or otherwise distribute the Content without our prior written consent. You may not circumvent any mechanisms included in the Content for preventing the unauthorised reproduction or distribution of the Content. You may not introduce viruses or any other computer code, files, or programs that interrupt, destroy, or limit the functionality of any computer software or hardware or telecommunications equipment; or damage, disable, overburden, impair, or gain unauthorised access to the Site, including Taki's servers, computer network, or user accounts. Any use of the Content not expressly permitted by these Terms is a breach of these Terms and may violate local or international copyright, trademark, and/or other laws.
You may have the opportunity to, and you may choose to, interact with our Site through submissions of chats, materials and posts to our Site or through third-party social media platforms and sites. You may also have comments, suggestions or other feedback about our Site, products and services that you may provide. This content is collectively referred to in these Terms as “Submissions”. In making any Submission, you hereby grant to us a non-exclusive, royalty-free, fully paid, unlimited, worldwide, sublicensable, perpetual, and irrevocable licence, in any and all manner and media, whether now known or hereinafter invented, to use, reproduce, licence, distribute, modify, adapt, reformat, publicly perform, publicly display, create derivative works of, and otherwise use the Submissions for any and all commercial, promotional, marketing, promotional and development purposes. You waive all moral rights that you may have in your Submissions. You understand that we have no obligation to use, publicise, distribute or take any actions with respect to your Submission, and that if we do use your Submission, that we do so in our sole discretion and may remove, or refuse to remove, any Submission at our sole discretion. Any Submission that you provide to us is at your own risk and in full acknowledgement of these Terms. In granting us this licence, you represent and warrant that you possess all rights necessary to grant us the licence rights described above.
11. Privacy
Please review our Privacy Policy, which describes how we collect information on the Site and how we use, process and share it. Without limiting the terms of our Privacy Policy, you agree by using our Site that we do not and cannot guarantee that your use of the Site and the information provided by you or to you through the Site will be private or secure. You are responsible for using the precautions and security measures best suited for your situation and intended use of the Site. We reserve the right at all times to disclose any information as we deem necessary to satisfy any applicable law, regulation, legal process or governmental request.
12. Disclaimers Of Warranties & Limitations Of Liability
UNLESS EXPRESSLY PROVIDED OTHERWISE, OUR SITE AND ANY ASSOCIATED PRODUCTS AND SERVICES ARE PROVIDED "AS IS" AND “AS AVAILABLE” WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED.We specifically disclaim all warranties and conditions of any kind, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title, non-infringement, freedom from defects, uninterrupted use and all warranties implied from any course of dealing or usage of trade. We do not warrant that (a) the Site will meet your requirements, (b) operation of the Site will be uninterrupted or virus- or error-free or (c) errors will be corrected. Any oral or written advice or notice provided by us or our authorised agents does not and will not create any warranty.
YOU AGREE THAT IN NO EVENT WILL WE BE LIABLE (Y) FOR DAMAGES OF ANY KIND, INCLUDING DIRECT, INDIRECT, SPECIAL, EXEMPLARY, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, LOSS OF USE, DATA OR PROFITS OR BUSINESS INTERRUPTION), HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY, WHETHER ARISING IN ANY WAY IN CONNECTION WITH THESE TERMS AND WHETHER IN CONTRACT, STRICT LIABILITY OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE), EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE OR (Z) FOR ANY OTHER CLAIM, DEMAND OR DAMAGES WHATSOEVER RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF OUR SITE, PRODUCTS AND SERVICES.
Digital Assets may be recorded and maintained on a decentralised blockchain network. You acknowledge and agree that we do not guarantee that it can/will transfer the ownership of the relevant Digital Asset to you or any other party (as the case may be).
You acknowledge and accept that we are not licensed or regulated under the laws or regulations of any jurisdiction (including that of the Republic of Singapore).
The disclaimer of liability detailed above will not apply to the extent prohibited by applicable law in the jurisdiction of your place of residence. You acknowledge and agree that the above limitations of liability together with the other provisions in these Terms that limit liability are essential terms and that we would not be willing to grant you the rights set forth in these Terms but for your agreement to the above limitations of liability.
13. Indemnification and Liability
You agree to indemnify and defend us and our affiliates and our respective directors, officers, agents, employees, principals, successors, assigns, subsidiaries or affiliates (collectively, “Taki Parties”) from and against all losses, liabilities, actual or pending claims, actions, damages, expenses, costs of defence and reasonable attorneys' fees brought against us by any third party arising from your violation of these Terms, the rights of a third party or applicable law (“Claims”), including:
- your use or misuse of the Site or the content on the Site,
- your violation of these Terms;
- your violation of the rights of a third party; or
- your violation of any terms and conditions of a third party services provider that you have agreed to or whose services you have used or accessed.
We reserve the right, at our own expense, to assume the exclusive defence and control of any matter subject to indemnification hereunder. In any event, no settlement that affects our rights or obligations may be made without our prior written approval.
You agree to promptly notify us of any Claims and cooperate with us in defending such Claims. You further agree that we shall have control of the defence or settlement of any Claims. This indemnity is in addition to, and not in lieu of, any other indemnities set forth in a written agreement between you and us.
Except where otherwise provided in these Terms, where you have incurred any liability to us, whether arising from or under these Terms or otherwise, howsoever arising, we may without notice to you, set-off the amount of such liability against any liability of us to you arising from or under these Terms, whether either such liability is liquidated or unliquidated, present or future, accrued or contingent.
Our total aggregate liability whether in contract, tort (including negligence or breach of statutory duty), misrepresentation (whether innocent or negligent), restitution or otherwise, including any professional and legal costs, arising in connection with these Terms and the access to and use of the Site and content, shall be limited to USD 1,000.
14. Assumption of Risk
You acknowledge and accept that the risk of lack of market acceptance and adoption, market volatility, lack of a secondary market for trading and/or restrictions on trading in a secondary market, unforeseen software bugs, volatile price fluctuations of the resources used, cybersecurity issues or disruptions remain, and we shall not be liable to you for any loss, damage or delay caused by the delay or failure of the Site, cyber hacking, fraud or any form of cybercrimes committed against us, the Site or you in respect of all matters.
The regulatory status of Digital Assets and blockchain technology is unclear or unsettled in many jurisdictions. In the event that any relevant authority makes changes to existing laws, regulations and/or rules or financial institutions make commercial decisions and such changes/decisions negatively impact the provision of any services or the Site in various ways, we shall be entitled to cease the provision of any services to you and operation of the Site in any jurisdiction without incurring any liability whatsoever to you.
Due to the relatively nascent nature of blockchain technology, the relevant blockchain may also be prone to periodic congestion, failure, or cyberattack, during which the delivery of the relevant Digital Asset being sent or received may be delayed indefinitely or irretrievably lost or stolen due to no fault of ours. Accordingly, you acknowledge and accept that no liability whatsoever is assumed by us for losses or delays to you caused by any such factors.
You acknowledge and accept the risks of dealing with smart contracts and losing money due to fluctuations in the price of Digital Assets.
15. Governing Law
The courts of Singapore have exclusive jurisdiction to settle any dispute arising out of or in connection with these Terms (including a dispute regarding the existence, validity or termination of these Terms).
16. Dispute Resolution
YOU AND WE AGREE THAT ALL CLAIMS WILL BE RESOLVED BY BINDING ARBITRATION IN THE MANNER SPECIFIED IN THIS SECTION AND THAT YOU AND WE WAIVE ANY RIGHT TO BRING SUCH CLAIMS BEFORE ANY COURT OF LAW. YOU AND WE FURTHER AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR REPRESENTATIVE ACTION MEMBER IN ANY PURPORTED REPRESENTATIVE ACTION OR PROCEEDING. OTHER RIGHTS THAT YOU WOULD HAVE IF YOU WENT TO COURT, SUCH AS ACCESS TO DISCOVERY, ALSO MAY BE UNAVAILABLE OR LIMITED IN ARBITRATION.
With the exception of disputes that qualify for small claims court and disputes involving Taki's intellectual property, you and Taki agree that if there is any dispute between you and the Taki Parties arising from or relating to these Terms and their interpretation or the breach, termination or validity thereof, or the relationships which result from these Terms, including disputes about the validity, scope or enforceability of this agreement to arbitration (collectively, "Covered Disputes"), both parties shall first attempt in good faith to settle any Covered Dispute by providing written notice to the other party describing the facts and circumstances of the Covered Dispute and allowing the receiving party 30 days in which to respond to or settle the Covered Dispute. Both you and Taki agree that this dispute resolution procedure is a pre-condition that must be satisfied before initiating any litigation or filing any claim against the other party.
We will provide such notice by mail or e-mail using the contact information on file with us and you must provide such notice by mail to Taki Network Pte. Ltd., 10 Anson Road #22-02, International Plaza, Singapore 079903, Attn: Taki Legal Department.
Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“SIAC”) in accordance with the Arbitration Rules of the Singapore International Arbitration Centre ("SIAC Rules") for the time being in force, which rules are deemed to be incorporated by reference in this clause. The seat of the arbitration shall be Singapore. The Tribunal shall consist of 1 arbitrator. The language of the arbitration shall be English.
The arbitrator will have the power to grant whatever relief would be available in court under law or in equity and any award of the arbitrator will be final and binding on each of the parties and may be entered as a judgement in any court of competent jurisdiction. The arbitrator will not, however, have the power to award punitive or exemplary damages, the right to which each party hereby waives. The arbitrator will apply applicable law and the provisions of these Terms and the failure to do so will be deemed an excess of arbitral authority and grounds for judicial review. The arbitrator's decision must be with written explanation and remain confidential.
Payment of all filing, administration and arbitrator fees will be governed by the SIAC's rules. If, however, you are able to demonstrate that the costs of arbitration will be cost-prohibitive for you as compared to the costs of litigation, we will pay as much of the filing, administration and arbitrator fees as the arbitrator deems necessary to prevent the arbitration from being cost-prohibitive for you. If the arbitrator determines the claim(s) you assert in the arbitration are frivolous, you agree to reimburse us for all fees associated with the arbitration that we paid on your behalf, which you otherwise would be obligated to pay under the SIAC's rules.
We and you agree that any Covered Dispute will be submitted to arbitration on an individual basis only. Neither we nor you are entitled to arbitrate any Covered Dispute as a representative action and the arbitrator will have no authority to proceed on a representative basis.
If any provision of the agreement to arbitrate in this Section is found unenforceable, the unenforceable provision will be severed and the remaining arbitration terms will be enforced (but in no case will there be a representative arbitration). Regardless of any statute or law to the contrary, notice on any claim arising from or related to these Terms must be made within one (1) year after such claim arose or be forever barred.
By agreeing to these Terms, you explicitly agree that any claims or actions that you may otherwise have against us under the laws of any jurisdiction outside of Singapore are hereby waived, including any claims or actions under the laws of your own country, and that your sole location and applicable law for any dispute is in Singapore according to the terms of this Section.
17. Termination
These Terms automatically terminate, and your rights to use our Site, also terminate, if you fail to comply with any aspect of our Terms. In addition, we may terminate, suspend or modify your account or your access to the Site, with or without notice to you, at any time for any reason. If you wish to terminate your participation on our Site, please provide us with written notice of your desire to terminate via email to support@taki.app.
If your account is terminated with balances still associated with your account, and such balances were not received or earned as a result of any breach of our Terms, you can reach out to us via email to support@taki.app for more information on how to retrieve such balances. If balances are associated with your account, and Taki is unable to contact you or has no record of your use of the Site for an extended period of time, Taki may be required by law to report such balances as unclaimed property. If we are unable to contact you through your contact information that we have on record to deliver such balances, we may be legally required to deliver such balances to the applicable jurisdiction as unclaimed property.
Termination of these Terms or your account will not limit any of our other rights or remedies. Those provisions that by their nature are intended to survive termination or expiration of these Terms shall so survive.
18. Jurisdictional Issues; Taxes
You are responsible for compliance with all applicable laws. We reserve the right to limit the availability of the Site to any person or geographic area at any time. You are solely responsible for determining the amount of applicable taxes for the transactions you carry out on the Site (including your use of the services) and solely responsible for any and all duties, taxes, levies or fees (including any sales, use or withholding taxes) imposed on or in connection with use of the Site by any taxing authority.
19. Miscellaneous
These Terms, together with our Privacy Policy and any Additional Rules, contain the entire understanding by and between us and you with respect to the matters contained herein and there are no promises, covenants or undertakings other than those expressly set forth herein.
These Terms (i) inure to the benefit of and will be binding upon us and you and our successors and assigns, respectively, and (ii) may be assigned by us, but you may not assign them without the prior express written consent of us.
If any provision of these Terms is or becomes unenforceable or invalid, the remaining provisions will continue with the same effect as if such unenforceable or invalid provision had not been inserted herein.
If we or you fail to perform any term hereof and the other party does not enforce such term, the failure to enforce on any occasion will not constitute a waiver of any term and will not prevent enforcement on any other occasion.
Nothing contained in these Terms will be deemed to constitute us or you as the agent or representative of the other or as joint venturers or partners or any fiduciary relationship (including trustee-beneficiary, principal-agent, etc.).
If we or you are prevented from performing or unable to perform any obligation under these Terms due to any cause beyond the reasonable control of the party invoking this provision, the affected party's performance will be extended for the period of delay or inability to perform due to such occurrence.
The headings and captions contained herein are for convenience only.
In these Terms, “include” or “including” means “including but not limited to” and examples are illustrative and not the sole examples of a particular concept.
These Terms and all related documentation will be drafted in English. While certain text in these Terms may be made available in languages other than English (whether translated by a person or solely by computer software), the English language version controls.
