PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY. BY MAKING A CONTRIBUTION TO LOCALCOINSWAP FOR THE PURCHASE OF LCS CRYPTOSHARES DURING THE TOKEN SALE, YOU WILL BE BOUND BY ALL TERMS AND CONDITIONS INCORPORATED HEREIN BY REFERENCE. BY ACCEPTING THESE T&Cs, YOU WILL BE ENTERING INTO A BINDING AGREEMENT WITH LOCALCOINSWAP. IN EXCHANGE FOR THE PAYMENT BY THE CONTRIBUTOR OF A CONTRIBUTION MADE DURING THE CONTRIBUTION PERIOD LOCALCOINSWAP AGREES TO ISSUE TO CONTRIBUTOR CERTAIN UNITS OF CRYPTOSHARE SUBJECT TO THE TERMS SET FORTH IN THESE T&Cs.
These Terms and Conditions shall govern acquisition of LocalCoinSwap Cryptoshares (hereinafter referred to as Tokens) and use of localcoinswap.com website (hereinafter referred to as the Site), representing the only authorized site for LocalCoinSwap Platform (hereinafter referred to as the Platform), where Tokens shall be distributed during ICO.
These Terms and Conditions shall represent an agreement between the Token Purchaser (hereinafter referred to as the Purchaser) and DIGITAL ASSETS MANAGEMENT LTD, the private company incorporated in accordance with the laws of Hong Kong (hereinafter referred to as LocalCoinSwap or the Company), Reg. No. 2314207, legal address: office 22/F, 3 Lockhart Road, Wan Chai, Hong Kong (hereinafter collectively referred to as the Parties and separately - as a Party). The Company shall be neither bank nor any other financial institution and shall neither give investment advice nor render any other licensed financial services.
The Purchaser shall pay for and purchase the Tokens in accordance with these Terms and Conditions. Rights to the Tokens shall pass to the Purchaser after payment.
The Purchaser cannot participate in ICO if respective legal restrictions for these types of transactions exist in his/her/its country of residence. Liability for violation of his/her/its country laws as far as participation in ICO is concerned shall be imposed on initial Coin offering participant (Purchaser).
Pursuant to legislative restrictions physical/legal persons being nationals/residents of the countries forbidding cryptocurrency and other digital asset turnover cannot participate in ICO on the Platform.
According to these Terms and Conditions domiciled Hong Kong residents cannot participate in ICO. Hereby the Purchaser shall confirm that he/she/it is not domiciled Hong Kong resident and does not live in the territory of Hong Kong.
LocalCoinSwap Cryptoshares represents a token which shall be available for the purchasers thereof. Funds collected during ICO shall be used for the Platform implementation, engagement of customers and its further development as well as for the creation of favourable conditions for using Tokens in swaps and other transactions. Token value shall fully depend on development of the Platform and digital asset market.
ICO participants purchasing Tokens shall not become company members (shareholders) and thus shall not be entitled to participate in making decisions on the Company operating activities and any other decisions connected with Company management.
At the present time technical and organizational Platform aspects are under development and implementation thereof shall be financed at the expense of the funds obtained during ICO.
100,000,000 Tokens shall be offered altogether.
The total of 70% of Tokens (i.e. 70,000,000 Tokens) shall be sold for ETH and other cryptocurrencies:
Remaining 30% of Tokens shall be distributed as follows:
The price of Tokens for participants of all stages of the ICO shall be 0.4 USD or equivalent which does not take into account bonuses that may be provided to the Purchaser.
Participants of all stages of the ICO shall pay for the Tokens within the time frame specified on the Site.
The funds collected from ICO shall be distributed in the manner specified on the Site.
The Purchaser shall:
The Purchaser may:
The Company shall:
The Company may:
The Company shall not be liable for:
Participation in ICO and any Token acquisition shall bear risks. It is recommended for the Purchaser to study the list of risks described prior to participation and consult the lawyer, accountant, tax specialist and other consultants if necessary.
Token holders shall understand that even in case of collection of sufficient amount of funds for the platform launch and marketing campaign the project can be implemented with deviations from planned results (find up-to-date Road map version on the Site, including those caused by force- majeure circumstances (Section 9).
The projects financed using ICO shall remain objects of regulatory control on the part of various regulatory bodies all over the world. Platform activity can be affected in future by Hong Kong legislative rules which may impose restraints on the Platform operation.
The field of cryptocurrencies is new, so there exists the risk of unforeseen hacking attacks or other attacks which may lead to the loss of Tokens kept in one or several purses.
Purchasing Tokens (either during ICO of after it) the Purchaser shall guarantee and confirm that he/she/it:
The information submitted during verification on the Platform shall not be available to other Platform users.
Becoming an ICO participant the Purchaser shall consent to any inquiries for identity authentication and/or protection from fraud which the Company shall consider necessary.
The Company may collect, process, and use any data about the the Purchaser, and may provide it to third parties for any purpose, including correlating or matching it with other data from our or such third parties' sources, such as for user tracking. This data may include cookies, session data, purchase information, login information, ad impression information, and server logs. The Company also correlates part of this information through login sessions with certain advertising and analytics services; which will only be sent when the user is logged in to the service.
The Parties shall be exempted from the liability for default or partial non-fulfillment of their contractual obligations if such default is caused by the effect of circumstances of insuperable force, namely: fire, flood, earthquake, strike, war, actions of governmental authorities or other circumstances beyond Parties' control.
Should any of such circumstances have led to non-fulfillment of obligations within the terms specified in the Contract such terms shall be extended in proportion to duration of respective circumstances.
Should such circumstances continue for more than 1 (one) calendar month, any Party may advance the initiative of Contract termination in connection with impossibility of execution thereof. Should the Parties decide on Contract termination based on the reason mentioned, neither Party shall be entitled for reimbursement of possible losses.
The Party incapable of fulfilling its contractual obligations shall notify the other Party of that in writing in time, but in any case within 10 (ten) calendar days upon occurrence of the circumstances of insuperable force and submit justifying documents issued by competent authorities.
Failure to notify or late notification on occurrence of force-majeure shall divest the Party of the right to refer to any above said circumstances as to the grounds for exemption from the liability for default on obligations.
The Parties shall acknowledge that Party's insolvency shall not represent force-majeure circumstance.
The Company may introduce amendments hereto unilaterally. The amendments shall come into force within 7 (seven) calendar days upon introduction thereof into these Terms and Conditions or placement of revised version of Terms and Conditions on the Site. Should any objections concerning amendments to these Terms and Conditions or revised version of Terms and Conditions be received from the Purchaser or other acquirers within this time period, the Company may at its own discretion: delete amendments to these Terms and Conditions or revised version of Terms and Conditions keeping the initial version of Terms and Conditions in force, or buy out the Tokens from the Purchaser or other acquirers expressing objections concerning amendments to these Terms and Conditions or revised version of Terms and Conditions, at the price of initial Token purchase.
Should any discrepancies arise the Parties shall try to solve them by means of negotiations. Should they fail to reach agreement the dispute shall be submitted to judicial instances of Hong Kong in accordance with Hong Kong legislation.
Contact the support at email@example.com for all the issues concerning the LocalCoinSwap ICO arrangements.