STABLEX USER AGREEMENT

ARTICLE 1 - PARTIES

1.1. Stablex User Agreement comprising this agreement and the annexes which are integral parts hereof (hereinafter shortly referred to as “Agreement”) is made by and between “Stablex Bilişim Teknoloji A.Ş.” (hereinafter referred to as “Stablex”) and the User, who has registered as a member at "https://www.stablex.net/tr-tr" (hereinafter referred to as “Website”) and uses  the Website and/or Stablex mobile applications by consenting to abide by the terms and conditions of this Agreement, and is executed upon its acceptance by the User to initiate Web-site membership.

1.2. Both of the preceding parties shall be collectively referred to as “Parties”.

1.3. By registering at the Website as a member, you agree, represent and undertake that you have read User Agreement in its entirety, understood its contents fully and confirm all of its provisions.

1.4. User means any natural person or persons who hold stablex.net  membership and benefit from services offered on the Website.

ARTICLE 2 – SUBJECT MATTER

2.1. The subject matter of this Agreement is to determine the  terms and conditions of use relating to the Website with domain name https://www.stablex.net/tr-tr, the terms and conditions upon which the Users, as buyers/sellers, will utilize the platform that helps them to buy and sell crypto currencies, and the rights and obligations of the parties concerned.

ARTICLE 3 – DEFINITIONS

Websitemeans the website https://www.stablex.net/tr-tr legal rights to which are owned by Stablex Bilişim Teknoloji A.Ş. and Stablex-managed crypto currency trading system including web pages, web applications, application programming interfaces (API) altogether, which are offered on such website
User Agreementmeans this User Agreement and its contents.
Agreement Annexes

means the body of texts that are appended to and constitute an integral part of this Agreement. Aforementioned texts complement this Agreement and violation of principles contained therein shall equate to breach of this Agreement.

Anti-Money Laundering Policy

Know Your Customer Guidelines

      Confidentiality Policy
Partiesmeans Stablex Bilişim Teknoloji A.Ş. and the Users who use and receive services from www.stablex.net.
Stablexmeans the company operating the Website, with its trading name being Stablex Bilişim Teknoloji A.Ş. and its offices located at  Emniyetevleri Mah. Eski Büyükdere Cad. No:1 Sapphire Tower, Kat:19/03 Kağıthane-İstanbul/Türkiye, which is a private law entity having an independent legal personality and incorporated under Turkish law. Stablex is engaged in commercial activities on its own behalf and is  not a agency, affiliate or representative of any domestic or overseas corporation.
User/Users

means natural person/persons who have become Website members by accepting this Agreement, terms of use and confidentiality notices and are at the age of majority pursuant to the laws of the Republic of Turkey.

For Turkish citizens: Anyone 18 years of age and above may become a member.

For foreigners:  Anyone who is 18 years of age and above, holding a residence permit or a bank account opened with the banks that are established under Turkish laws may become a member.
Platformmeans the website comprising the  domain name www.stablex.net  and  associated subdomain names, and mobile applications put into service via Android operating system and IOS operating system which also belong to Stablex. 
Bankmeans the banks established and existing under Turkish laws. 
Blockchainis an decentralized database where records are maintained and verified on a decentralized network. The reason it is termed “blockchain” is that the records are stored on the blocks linked to each other as per encryption algorithms.  
Crypto Currency or Crypto Asset

are assets that enables transactions to be effected on the Platform. Turkish law has not a definition for it yet, however some definitions have been made by various authorities.

The European Banking Authority defines virtual currency as “digital representation of value that is, despite not having been issued by a central bank or public authority, accepted by natural persons or legal entities for electronic payment, exchange, storage and transfer and does not need to be in a physical form.”

According to the definition by the European Central Bank, it is the virtual representation of asset that is not issued by any central bank, credit organization or e-currency institution and may be used alternatively to currency in some situations.

General Definition: It is a digital asset or crypto asset  that utilizes cryptography, i.e. encryption  to secure crypto currency transactions and is designed to work as a medium of exchange alternative to cash. Crypto assets are wholly decentralized as opposed to centralized electronic currency and centralized banking systems. The decentralization  of each  crypto currency derives from a blockchain which is the common database  functioning as a distributed ledger. Crypto currencies are traded on dijital databases called blockchain. Acceptance of this Agreement by Users shall be considered by Stablex as signifying that Users are acquainted with the ways crypto currencies work and their general particulars and understand the technology in question.
Crypto Currency Wallet / Virtual Wallets  

are virtual wallet addresses each of which is distinctive and unique, that may be appointed by Users to their accounts. A separate wallet with a separate address algorithm and encryption is used for each type of crypto currency.

Crypto currencies may be transferred among those addresses. Crypto currency addresses are randomly created cryptographic public key pairs. 
Processing and Protection of Personal Data Policy (KVK Disclosure Notices) 

means the disclosure notice which is accessible at https://www.stablex.net/tr-tr governing the general confidentiality policy of

Stablex with respect to personal data and use of cookies, including the matters as for what purposes and in what manners  the

personal data Users have provided through the Website may be used by Stablex.

Stable Cryptocurrency (Stablecoin)means the encrypted currency that is acquired through buy and sale of assets or derivatives of algorithmic mechanisms that are pegged to USD, Euro, TYR and other fiat currency units or to gold, silver and similar commodity prices.
Cold Storagemeans offline storage of private keys belonging to crypto currency addresses. 
Transaction Feeis the fee paid to the elements called miners for verification and execution of, and addition to the blockchain, of a crypto currency transfer transaction that has been effected in a crypto currency blockchain network. Transaction fee increases or decreases in relation to the network transaction volume. 
Phishing are cyber attacks used to obtain sensitive information of targets like personal data when they click on malicious links contained in e-mail messages sent to  their e-mail accounts by attackers impersonating different legitimate organizations and entities or to steal  relevant website access data of targets when they attempt to access fake websites and domain names of those organizations and entities as fabricated by attackers.
KYCis the abbreviation of Know Your Customer”, a method that has been evolved as an industry standard and is used by crypto currency  service providers to validate Users’ information.
AMLis the abbreviation of Anti-Money Laundering and refers  to processes designed to combat money laundering activities.
AMLis the abbreviation of Counter-Terrorism Financing” and refers to processes for combating  terrorism financing.
FATFis the abbreviation of Financial Action Task Force”, an international organization that has been established by G7 countries and is making recommendations for combating money laundering and terrorism financing.
OFACis the abbreviation of The Office of Foreign Assets Control”, an office that functions in affiliation with US Treasury Department and oversees foreign assets and accounts of foreign origin. OFAC imposes sanctions on foreign countries and regimes for reasons such as terrorism financing,  illegal drug trade, proliferation of weapons of mass destruction .
PEPis the abbreviation of Politically Exposed Person”. They are treated as being within the risk group because they possess more opportunities in bribery, corruption and money laundering matters due to their position. 
SIPis the abbreviation of  Special Interest Person”. They fall within the high risk groups in terms of money laundering due to punishments inflicted on them and investigations they were subjected to.
RCAis the abbreviation of Relatives and Close Associates”. They are treated as being within the risk group due to their relationship with PEPs by kindred, friendship or association.
RCAis the abbreviation of Optical Character Recognition”. It converts PDF, JPEG etc. files to editable and searchable formats. 
BDDKmeans the Banking Regulation and Supervision Authority.
4Smeans the program called 4Stop used by Stablex as part of Know Your Customer and transaction monitoring. 

ARTICLE 4-RIGHTS AND OBLIGATIONS OF THE PARTIES

4.1. Membership

4.1.1. User shall be deemed to have read, understood and accepted the terms and conditions contained in this Agreement and its annexes as from the moment he/she has opened an ac-count to use the services offered via https://www.stablex.net/tr-tr web applications, Stablex mobile applications or APIs.

4.1.2. Prior to making a membership application, User acknowledges that he/she is aware of the fact that use of crypto currency units for investment or trading purposes carries high risk which may result in  serious monetary losses and crypto currency services are not currently subject to supervision by government or any other authority, that he/she has undertaken due diligence when deciding whether the use of crypto currency units for investment or trading purposes is appropriate to his/her situation and he/she has sufficient knowledge and ability in crypto currency trading matters.

4.1.3. Stablex is a crypto currency transactional platform where buyers and sellers meet. Trade orders on the platform are placed by Stablex Users. Hence, the price of any crypto currency materializes automatically in relation to supply-demand position that is contingent on buy-sell transactions. If the bids quoted among Users through trade orders match, spot price materializes in reference to the last executed transaction. Stablex has no influence on or intervention in current crypto currency prices.

4.1.4. The Platform enabled by Stablex is a trading platform. On the Platform, Users buy and sell the crypto currencies placed in Stablex among themselves .  Platform only acts as an IN-TERMEDIARY in these dealings. Therefore, prices on the Platform are set in reference to supply-demand relationship and Stablex has no influence or intervention in the materialization of prices in question. In this context, Stablex is not liable for sustaining of losses and damages by the Users or for their actual or future losses arising due to price changes.

4.1.5. To be able to use the Website, all Users must fill out the form at  https://www.stablex.net/tr-tr completely with up-to-date and correct information, accept this Agreement and provide and upload to the Website all necessary documents. Launch of multiple memberships by the Users (as defined in Article 3- Definitions), use of a single account by multiple Users or use of multiple accounts by a single User and executing transactions on said ac-counts are prohibited. Furthermore, our Company is entitled to reject or cancel an account without assuming any liability if giving of false or misleading information by the Users during membership registration has been found out.

4.1.6. The User account shall be authorized by Stablex and User may start using the Website upon satisfaction of the following conditions.

4.1.6.1. You should register with your valid e-mail address when launching a User account. After the information required for membership registration is entered, an activation e-mail will be sent to your e-mail address and your account will be created with your completion of activation process via this e-mail. However, activation of your account does not mean it has been AU-THORIZED.

4.1.6.2. To have your account Authorized, you must go through the following steps and satisfy following conditions.

a.  Launching multiple accounts with customers’ names and information  is not permit-ted.

b. System performs a quality and form check on uploaded identification documents (identity card, passport etc.) using OCR feature and examines previous information. Verification process is carried out through a recognized third party. 

c. The following valid documents are used for identity verification:

i. Driver’s license;

ii. Identity card; (The Republic of Turkey Identity Card for Turkish citizens; Residence Permit ID Card, Blue Card for foreigners) 

iii. Passport;

d. Provided information such as the name, birth date etc. are checked into in 172 countries and compared with the information in identification documents.

e. Real-time information check is performed on compliance checklists such as FATF, OFAC, AML/CTF, PEP, RCA, SIP.

f. KYC system executes the following additional verifications:

i. GEO Check: Checking the accuracy of client coordinates and verifying ISP de-tails; 

ii. BIN Check: Verifying  the first 6 digits of an issued credit card, debit card or prepaid card; 

iii. E-mail Verification: E-mail address, the duration for  which account is active, domain data and e-mail reputation status;

iv. E-mail violation check;

v. Phone identification number check: Phone type and comparison with operator’s GEO results;

vi. Comparison of photo appearing in identification documents with sulfide.

g. KYC verification engine uses “waterfall model” to analyze customer data. A customer who has failed to pass a verification step proceeds to another and other  parameters are checked.

h. Verification engine assigns a KYC rating to every applicant and refuses the application or appoints the applicant to a KYC level, according to that rating. KYC level determines the access  privileges,  permitted functions, limits etc.

I. Customers who have obtained authorization to launch an account may improve their KYC rating by providing necessary additional documents or by putting money into  the account or performing other transactions.

j. Internal control department will implement random tests on the rejected and authorized applications to confirm system reliability

k. KYC system is provided independent of online membership registration process  and may be accessed by  relevant employees and control and compliance departments for manual examination and confirmation of membership registration applications, if required.

l. As an overall policy, Stablex reserves the right to reject applications determined by it to be risky or suspicious without making any explanation to applicants. However, if the applicant raises suspicions, relevant employee may demand additional information to eliminate the risk or concerns. Possible risk matters are expounded in succeeding paragraphs of this Article 4.

m. Stablex will not use simplified due diligence procedures.

n. Stablex reserves the right to reject any applications without making a statement of justification for its decision.

4.1.7. User accepts, represents and undertakes  that, in performing the membership procedures and utilizing Stablex  services, he/she shall act in conformity with all of the terms and conditions contained in User Agreement, the rules in relevant sections of the Website and all laws and regulations in force in Turkey, primarily the Law on Prevention of Laundering Proceeds of Crime and that he/she has understood and approved all terms and conditions cited above.

4.1.8. User accepts, represents and undertakes  that  Stablex shall be entitled to disclose confidential/private/commercial information belonging to the User either to governmental authorities or to right holders in accordance with the statutory provisions and that under no circum-stances User may therefore claim damages, howsoever designated, from Stablex where such disclosure is called for by the provisions contained in Confidentiality Policy and Personal Data Protection Policy as well as mandatory statutory provisions in force or in the event of alleged infringement of the rights of other Users and third parties.

4.1.9. User accepts that the entire liability for the security, safekeeping, preventing third parties’ from having knowledge, and use, of the system access tools (User name, e-mail, password etc.) that are utilized to be able to benefit from Stablex services belongs to User. User accepts that Stablex shall have no direct or indirect liability whatsoever with respect to actual or possible losses suffered by other Users and/or third parties  due to any negligence and fault of User in security, safekeeping, preventing third parties’ from accessing to, and use, of the Website access tools matters.

4.1.10. Stablex recommends User to use a strong password for system access,  to preserve ac-cess data and tools in a secure manner, not to share them with third parties, to be alert against phishing like attacks. User accepts that Stablex shall have no direct or indirect liability whatso-ever if User’s account is targeted, or if User is subjected to fraud, by third parties who obtained User’s system access tools or data whether due to personal fault of User or through a cyber at-tack.

4.1.11. User is recommended when accessing to the Website to check out to assure such access is at all times via the address https://www.stablex.net/tr-tr that has a SSL certificate.

4.1.12. User acknowledges that he/she will inform Stablex immediately if he/she notices that there has been an authorized access to his/her account, his/her account has been hacked, technical problems exist at the Website and a cyber attack has been launched on the Website.

4.1.13. User shall communicate with Stablex via the e-mail address support@stablex.net. Like-wise, Stablex shall communicate with User via the same e-mail address support@stablex.net. Stablex shall not be liable for any  losses that would emanate from any fraud or cyber attack that is executed using an e-mail address, other than the foregoing address, masquerading as be-longing to Stablex.

4.1.14. User accepts, represents and undertakes that he/she may not assign its rights and obligations hereunder, in part or in whole, to any third  party without written consent of Stablex. If any  assignment  made as aforesaid  is discovered, Stablex shall be free to suspend and block User’s account. Stablex shall have no liability for losses arising from these reasons.

4.1.15. User shall be obliged to notify Stablex within the shortest time should any changes in the information he/she has provided during his/her membership application occur after completion of his/her membership application or authorization of such membership.

4.1.16. User accepts that he/she will not hold Stablex liable in any way if authorization of his/her membership does not occur due his/failure to provide necessary information and documents. Stablex reserves the right to reject applications determined by it to be risky and suspicious.

4.1.17. User hereby accepts that Stablex shall at all  times be permitted to review and assess accounts of all Users and request new  documents from Users.

4.1.18. User accepts that assessment of  information and documents supplied in the course of membership process may result in temporary or permanent discontinuance of, and alteration of limits of, services rendered to him/her.

4.1.19. Stablex may unilaterally set and alter User limits. Alterations  shall be effective as from their announcement on the Website and Website records shall apply thereto.

4.1.20. Stablex may unilaterally terminate agreements with Users who are found out to be in conflict with one or more provisions in this Agreement and  in the annexes hereto and may, at any time and without notice, freeze, suspend and cancel such Users’ accounts or temporarily or permanently close those accounts for trade orders and may further reverse, abort or block the executed transactions. The final decision on this matter shall at all times rest with Stablex.  Stablex shall have no liability for any losses arising from these reasons.

4.1.21. Data shared by User during membership application is being collected and processed by Stablex in accordance with the Law no. 6698 on the Protection of Personal Data and relevant legislation. Detailed information on this subject is available at “Protection of Personal Data Policy” attached hereto.

4.2. Activation

4.2.1. Accounts of Users who have satisfied the conditions specified in Article 4.1 are activated and made operational by Stablex.  However, this activation does neither mean that the User account will not be inactivated back in the event of determination by Stablex, of any future violation involving the User account, or of any contradiction with the terms and conditions of use, as may be unveiled after an inspection, nor confer any vested interest on the User. According to Fraud Monitoring Engines rules, every  transaction marked as suspicious is instantly halted, along with the immediate marking of the source account as inactive.

4.3. Account Security

4.3.1. Users must avoid prohibited transactions as determined by Stablex, including without limitation the following:

4.3.1.1. To cause damage to Stablex brand,  Stablex Bilişim Teknoloji A.Ş. or Stablex Users through deceitful acts on any platform within and outside the Website (internet pages, blog contents, social media sharing etc.) or manipulate them to gain material or immaterial benefits, give promises or make attempts to adversely guide Stablex Users for these purposes;

4.3.1.2. To create memberships by using identification and address data belonging to third par-ties without their knowledge and consent;

4.3.1.3. To open accounts on social media by using fabricated names and visuals that contain exactly alike or modified versions of the logos or other visuals representing Stablex crypto as-sets, which have been issued by or on behalf of Stablex;

4.3.1.4. Whether by applying the methods described in the immediately preceding paragraph or not, to insinuate that they are Stablex employees or business partners of Stablex or they have relationship with Stablex employees or business partners of Stablex or to attempt to create such an impression;

4.3.1.5. To vary the content of commitments made by Stablex as part of member-ship/referencing/contest/campaign etc. organized by it and to promise different benefits;

4.3.1.6. To channel the gains that have been earned from Stablex commitments made as part of membership/referencing/contest/campaign etc. organized by Stablex into illegal betting and gambling site accounts etc., with a promise to share the proceeds;

4.3.1.7. It shall be sufficient for Stablex to exercise its  rights indicated in this Article if it has  determined that User directly or indirectly acted in contravention of the rules stipulated in this Article which requires absolute compliance, regardless of the reason or manner of such incompliance.

4.3.2. In this context, where Stablex has determined  execution of the prohibited actions by User including without limitation those above or if Stablex has a strong suspicion signifying the execution of such actions, then, without prejudice to any legal remedies it may have under this Agreement and at law, Stablex shall be entitled, at any time and without any prior notice or warning served upon User in respect of such action/actions, to  suspend, temporarily or permanently  discontinue the services provided to User or his/her account or to temporarily or permanently close the account for trade orders, and to reverse, abort or block the executed trans-action and to recapture the gains, if any, that has been acquired by User with the help of those conflicting action/actions as well as the rewards/performances conferred on the User through such means as membership/referencing/campaign/contest etc.

4.4. Confidentiality

4.4.1. Stablex may use the information relating to the User in compliance with the provisions of the Confidentiality Policy and the Protection of Personal Data Policy, that are integral parts of this User Agreement. Stablex will not make confidential User information available to third individuals and organizations except as may be otherwise permitted in the relevant regulations, decisions of authorized bodies, this Agreement, Confidentiality Policy and Protection of Personal Data Policy.

4.4.2. Parties undertakes  that they shall treat all information (in particular, information and documents relevant to https://www.stablex.net/tr-tr)  they have learned about each other by virtue of performance of this Agreement as confidential or as trade secret, whether or not such information is designated as confidential between the Parties, and  that, without the written permission of other Party, they shall neither transfer or disclose to third persons or companies nor  publicly announce  these information, except if they are legally compelled to do so, and refrain from  actions that would result in these consequences; however, this obligation of confidentiality does  not extend to information that is known prior of execution of this Agreement, is acquired from third parties without breach of any confidentiality obligation in the course of this Agreement and information that is publicly available.

4.4.3. Stablex locates,  determines and records the IP addresses, models, operating systems and browser data of devices through which Users access the Website. Stablex may use these records to define Users generally,  collect exhaustive demographic data, ensure system and User account security, combat scamming and obey legal obligations. In this context, please  see  our Confidentiality Policy.

4.4.4. Users accepts and represents that he/she expressly consents to processing and transfer to third parties and abroad of his/her personal data such as the name, surname, electronic mail address, physical addresses, phone number (“Personal Data”) which he/she has shared with Stablex, as data controller, to accept User Agreement at the time of membership registration at the Website and during his/her activities performed on the Website, within the frame of the principles laid down in the Law on the Protection of Personal Data.

4.4.5. For further information on the use of Personal Data and on the rights that you have in these matters, and to be informed on our protection and processing of your Personal  Data under the Law on the Protection of Personal Data, you may access  Processing and Protection of Personal Data Policy available at Stablex Website.

4.5. Website  

4.5.1. Stablex accepts and undertakes that the Website will be broadcast at the ad-dress https://www.stablex.net/tr-tr and it shall ensure the continuity of services offered via Website.

4.5.2. Stablex shall take all necessary precautions including as regards the system security to ensure that Users’ accounts remain active at all times and accounts access is not interrupted.  However, no liability whatsoever may be imposed on Stablex if trading transactions are delayed or cancelled due to technical malfunctions, stoppages caused by natural events, or system fail-ures. By registering at the Website as a member or by executing transactions on the Website, Users accept this provision beforehand.

4.5.3. Users must adhere to all local and international statutory requirements, the operative laws and regulations of the Republic of Turkey being in the first place, in all of their future transactions on the Website. Users accepts and represents that they are acquainted with Turk-ish laws and regulations in force and that they are legally obligated to have knowledge of and obey these laws and regulations.

4.5.4. Users accept and represent that they shall not run malicious software on the Website and Platform, shall abstain from actions intended to impair functioning of Website and take any precautions to avoid causing harm to the Website and Platform. 

4.5.5. All possible regulations passed by the Banking Regulation and Supervision Authority, Capital Markets Board, Financial Crimes Investigation Board, the Republic of Turkey’s official authorities and Central Registry Agency, primarily as regards the Law on Prevention of Laundering Proceeds of Crime, whether such regulations are relevant to crypto currency or not, shall be properly and forthwith reflected in the Website by Stablex and be binding for all Users. 

4.5.6. All unlawful transactions are prohibited and in case of discovery of any such transaction, Stablex will make necessary judicial applications to relevant authorities. Furthermore, the liability for any transactions, whether lawful or unlawful, which may be willfully or mistakenly carried out by Users shall belong to the Users themselves. User hereby accepts beforehand that Stablex has no ability or power to reverse any exchange, sale or transfer that was executed on the Website.

4.5.7. The making of currency transfers by the Users themselves to their  accounts on the Web-site or currency transfers carried to those accounts are subject to approval of Stablex. Stablex acknowledges and covenants to make its utmost efforts to ensure all future transfers by Users are executed as soon as possible and that its technical infrastructure is capable for this goal. However, Stablex may not be held responsible for any delay in transactions  that occurs owing to the technical, legal or natural reasons, or the causes beyond control of Stablex (e.g. force majeure).

4.5.8. Stablex is free to refuse or return to the source suspicious or unlawful transfers pursuant to annexes hereto. If the source of the currency transfers carried to the User account do not match the name specified in the User information, the refusal of transactions, returning the in-coming currency to source or temporary blocking of the transaction shall be at disposal of Stablex.

4.5.9. Stablex is not liable for any possible delay occurring for any reasons related to currency transfers. In  the same vein, Stablex is the sole authority and administrator as for uploading any type of currencies to Users accounts on the Website and removing any type of currencies (as supported) from the Website and has all power of disposition over these actions.

4.5.10. Stablex is empowered to stop and review all transactions which are, or are suspected to be, in contravention of the annexes hereto. User hereby accepts these powers in advance.

4.5.11. All Users are presumed to have understanding and knowledge of what crypto currency system is and how it works. Crypto currency market involves high risks. The prices of crypto currencies that are not subject to any central  registry agency and for which there is no central management are momentarily set according to supply and demand and are susceptible to manipulative transactions. As the prices on the Website are also determined according to the sup-ply and demand among Users, they could be pretty and instantly volatile. Moreover, because the execution of transfers crypto currency system is inherently conditional upon the network called “blockchain” on which crypto currencies are built, seasonal transactional slowdowns and delays are experienced. These matters are beyond the control or interventional ability of Stablex.

4.5.12. No investment or buy-sell advice shall be given to the Users by Stablex, Website administration, Website employees and support team or any person connected to Stablex. Users mutually buy and sell on the Website and prices of existing crypto currencies on the Website are determined in this way. The prices momentarily developed on the Website are not binding and do not set a precedence. Stablex do not intervene in the prices on the Website in any manner. Similarly, crypto currency prices on different platforms or internet sites do not bind Stablex as they are not controlled by it.

4.5.13. Sources that may be occasionally posted on the Website such as articles, informative writings, market analyses, news are content created entirely for information purposes, are not binding on Stablex or do not constitute investment/trading advice and guidance. Users shall be regarded as making their investment or trading preferences with their free will. These terms and conditions are hereby deemed to have been accepted beforehand by all Users.

4.5.14. Website and Stablex are only an intermediary. Stablex may not be held liable for User’s earned profits or for any financial obligations (i.e. tax) attributable to such profits or for any prospective losses incurred by User. Locating the source and target of crypto currencies upload-ed to or withdrawn by User from the Website may not be technically possible.  Thus, obligation to keep track of these crypto currencies is not on the part of Stablex. User hereby accepts  this matter beforehand. User is personally liable for all actual and future legal and financial obligations relating to the transactions he/she has executed on the Platform.

4.5.15. Stablex shall provide a crypto currency address for User for his/her uploading of crypto currencies to the accounts on the Website. Stablex does not have any liability for transactions executed outside those addresses provided by it. User also understands and accepts  that these addresses are provided to enable crypto currency transfers to User account(portfolio), crypto currency addresses should not be used by the User as permanent wallet addresses, the wallet addresses are instantly generated by the system after clicking on “create new address” button and may change after their use when relevant crypto currency has been carried to the User ac-count. Stablex recommends the User to control Stablex-provided crypto currency address for every crypto currency deposit transaction and in case of withdrawals, the address from which withdrawal is to be made.

4.5.16. In performing crypto currency buy-sell transactions on the Website, User is personally liable for his/her own transfers to crypto currency addresses belonging to User. Where a crypto currency transfer is made to a different crypto currency address which also belongs to User, Stablex may not be held responsible for that transfer. The User who has effected the transfer in error shall assume all liability. Besides, the liability for erroneous transfers that would take place due to wrong entry of necessary information at the time of transfer in view of technical characteristics of crypto currencies shall also belong to User. User agrees not to hold Stablex responsible for these situations. Stablex warrants that it is storing all User information on the Website, User accounts and crypto currency data in a highly secure digital environment and has taken all precautions as a prudent businessperson. 

4.5.17. Large part of crypto currency accounts are also preserved by means of a method called cold storage, which is not accessible online. If, despite those precautions, undesirable losses occur, the Users accept, represent and undertake beforehand that they shall not make a claim against Stablex.

4.5.18. Stablex is under no obligation  to monitor or supervise the transactions that are realized  on the Website. However, Stablex technical team may temporarily halt transactions to ensure healthy functioning of the Website if unrealistic prices materialize on the Website as a result of a technical failure and may cancel transactions found out to be erroneous. If Users’ accounts are found out to have gained unjust benefits from technical failure or if it has become clear that Users have intervened in the Website to have an impact on functioning of Website (i.e. through a cyber attack), the accounts of the Users viewed as responsible may be suspended, blocked or cancelled. All  claims and rights to petition of Stablex for return of crypto currency or fiat currency transferred outside the Website are also reserved in such situations. Stablex may not be held responsible for delays or problems on the Website arising from these type of failures taking place in extraordinary situations.

4.5.19. Stablex is entitled to request certain information and documents from User for information security purposes and/or for account-transaction confirmation during and after opening an account. User agrees, represents and covenants to deliver requested information and documents to Stablex.  In the event of possible disputes among Users that arise from falsification, fraud, misuse of Website and from matters which may constitute a crime within the meaning of  Turkish Criminal Code, personal data collected from Users during Website membership registration and/or buy/sell transactions and identity verification procedures may only be transmit-ted to other Users who may be a party to such dispute to enable parties to exercise their legal rights, only insofar as relevant to the matter requested and only to the limited extent of the dispute.

4.5.20. Stablex, its directors, employees, business partners, representatives may under no circumstances be held liable for any indirect, consequential, special or punitive damages including without limitation lost profits, los of data, loss of value or loss of other tangible assets which could be sustained by User as a result of User’s actual use of the Website or arising from his/her improper use thereof or from access to the Website or intervention in the use or content of Website.

4.5.21. User’s utilization of the Website and of offered services shall stand for his/her acceptance of this Agreement in its entirety, all relevant terms and conditions and assumption of all possible risks. The service existing on the Website is provided on “As Is” and “As Available” basis. Stablex gives no express or implied warranty in relation to  the products and services supplied, including without limitation the warranties as to the merchantability, adequacy in terms of any matter, fitness for any performance criteria and in any other matter whatsoever.

4.5.22. Users may not deposit crypto currencies into their Stablex wallets before depositing fiat currency.

4.6. Charging

4.6.1. Every buy-sell transaction and currency withdrawal and deposit transactions from and into the Website is subject to a commission fee that is determined by Stablex, announced at https://www.stablex.net/tr-tr and  to be revised on continuous basis.

4.6.2. User accepts that effected crypto currency transfers are not irreversible. Therefore, re-fund of Stablex designated commissions or transactional fees is not possible and Users are not entitled to claim refund of those amounts. 

4.6.3. Stablex may unilaterally  determine commission fee and  change it upon posting a prior notice on the Website. Changes shall be effective as from their announcement on the Website and Website records shall apply thereto.

4.6.4. Stablex may either collect commission fee in the crypto currency being the subject unit of User-executed transaction or charge it against  TYR-denominated account of the User on the Website.

4.6.5. If there is no available balance in the User’s account for payment of commission fee, then such fee may be deducted from transfer amount or transaction may be rejected by Web-site. Commission fees are service charges and are not refundable at all (even in the event of cancellation of transfer). User hereby accepts these matters beforehand.

4.6.6. In performing currency transfer transactions, Users shall use bank accounts that are registered in the same name as theirs and operated in accordance with the Turkish laws. Stablex shall not be responsible for delays in or non-realization of transfers that could be experienced in case of transfers effected by User using different names and User agrees, represents and covenants to assume entire liability on this matter.

4.6.7. User agrees, represents and covenants not to make cardless ATM transfers. Upon discovery of any such transactions, Stablex is entitled to restitute the transfers.

4.7. Intellectual Property Rights and Non-Competition

4.7.1. All intellectual property rights in and to the services, domain  names,  designs, logos, texts, images, HTML codes, software and other codes including without limitation, the inter-faces, contents, product reviews, videos, algorithms, drawings, models, designs and all other intellectual property rights, that are in each case associated with the Stablex service hereunder, including in respect of all materials, business methods, business models being used by Stablex (excluding third party-supplied contents and applications) are owned by Stablex Bilişim Teknoloji A.Ş. Stablex does not permit copying, reproduction and distribution, subjecting to  reverse engineering processes, of said services, elements and associated pages. User agrees, rep-resents and covenants that he/she shall not act in contrary to these provisions. Contrary actions by the User or by any person or persons directly or indirectly related to User shall constitute rightful cause for unilateral termination, whereupon all civil and criminal liability arising there-from shall belong to User. Stablex has the right to deny opening further accounts for the person or persons concerned.

4.7.2. The intellectual and industrial property rights contained in this Article are absolute and none of them has been waived. Users also agree and undertake to avoid actions which would create confusion or unfair competition with Stablex and Website. Upon determination of any such actions, relevant User account shall be suspended immediately, with  Stablex reserving all other rights it may have.

ARTICLE 5- TERMINATION

5.1.  Stablex shall be entitled  to suspend User’s access to the Website or close User account without any warning or prior notice and without being under any obligation to give such warn-ing or notice, if Stablex considers necessary, in particular where, including without limitation, User has violated any one or more provisions of this Agreement and/or Annexes. User may not assert any claims against Stablex for its exercise of such right.

5.2. Upon termination of this Agreement, the right of User to use the Website shall immediately cease. All of User’s balance shall be returned to him/her providing that termination is not based on any violation, account is not under investigation and no legal restriction exists on the ac-count.

5.3. If User wishes to close his/her account, he/she may in person perform this option on the Website. Upon voluntary closing by the User of his/her account, crypto currency and TYR bal-ances of the account are examined in the shortest time and returned to User in the absence of violation.

5.4. Upon termination, account and transactional data necessary for meeting data retention standards shall be securely preserved for 10 years. Furthermore, if a transaction could not have been finalized during account closing process, Stablex shall be entitled at that point to inform counter party to the transaction of the situation. User agrees that account closing process initi-ated by him/her (the right to request deletion of data under article 7 the Law no. 6698 on the Protection of Personal Data) shall also be subject to the aforementioned termination procedure.

ARTICLE 6- GOVERNING LAW AND COMPETENT JUDICIAL AUTHORITY

This Agreement shall be governed by and construed in accordance with the the laws of the Re-public of Turkey. Any disputes arising from this Agreement shall be resolved by İstanbul Court and Enforcement Offices. 

ARTICLE 7- NOTICES

7.1. All notices under this Agreement, if to Stablex, shall be delivered via certified mail  return receipt requested to the address Emniyetevleri Mah. Eski Büyükdere Cad. No:1 Sapphire Tow-er Kat:19/03 Kağıthane-İstanbul/Türkiye. Communications made via support e-mail address (support@stablex.net) shall not constitute official notice for the purposes hereof. 

7.2. Notices to User shall be valid if delivered to the e-mail address and physical address pro-vided by him/her during Website membership registration. Users may select the means of communication through which they wish to receive notifications from the Website (SMS, Push, Instant Messaging, E-mail etc.). If communication details change, User must immediately noti-fy Stablex of this change. Otherwise, notices to the former address shall be deemed to have been served.

ARTICLE 8- FORCE MAJEURE

8.1. Occurrence of the events that are beyond control of Stablex or User, prevent and/or delay performance by any of the Parties hereto of its debts and obligations assumed hereunder [for example strike, lockout, war (whether declared or not), civil war, acts of terrorism, earthquake, fire, flood an similar natural disasters, decisions and actions of the government etc.] shall be regarded as force majeure and Parties shall not be held liable for not fully or timely performing their obligations because of such events. Financial reasons or the events arising from own fault of a Party shall not amount to force majeure.

8.2. Upon occurrence of force majeure, Stablex shall be empowered as the sole authority in deciding upon the continuance, suspension, termination or otherwise dissolution of this Agree-ment.

ARTICLE 9- AMENDMENTS

Stablex shall have the authority and be allowed to amend this Agreement and its Annexes at any time at will and to the extent and in the manner it considers necessary. There is no obliga-tion to give a warning or prior notice to the Users of such amendments and Users shall have no right of objection to the amendments. However, Stablex undertakes  that it shall use due care to notify Users with User-selected means of communication (if not, through e-mail only) of the amendments in a reasonable time in advance of putting those amendments into effect. Users who elect to dissent to the amendment are free to close their accounts.  Continued use of the Website by User means acceptance of the amendments so made.

ARTICLE 10- FINAL PROVISIONS

10.1. When announced on the Website by Stablex,  this Agreement shall take effect retrospec-tively to include all former/new Users whose membership have been authorized and shall re-main in effect until terminated by either Party hereto.

10.2. User agrees, represents and undertakes that he/she has read and understood each and every article, and attested the entire content and all provisions, of  this Agreement at the time of his/her Website membership registration. Users who do not accept this Agreement should not register at the Website as a member and utilize from services on the Website. 

10.3. If any provisions hereof shall be held to be invalid by official authorities (i.e. courts), that provision shall be deemed severed from the body of this Agreement, whereas other provisions shall continue in force. 

10.4. This Agreement is drafted in Turkish and English languages and Turkish version shall prevail in the event of any discrepancy.

This Agreement consists of 10 articles and 3 annexes.

This text has been updated on 16.02.2021.

ANNEXES

Anti-Money Laundering Policy 

Know Your Customer Guidelines

Confidentiality Policy