Terms & Conditions
Terms & conditions policy for Buying, Selling & Trading Bitcoin & other Cryptocurrencies with CCOTC London, UK:
This page contains the terms and conditions upon which customer’s use our Cryptocurrency services (the “Services”).
By using the Services, you agree to accept and comply with these terms and conditions. You should read the entire terms and conditions carefully before you use the Services.
1. Definitions in this document:
"we" "us" or "our" refers to CCOTC and "you" refers to a CCOTC client.
“broking” refers to an intermediary service whereby we facilitate your Crypto requirements.
“trading” is the execution of transactions, buying and selling of Cryptocurrencies on your behalf via the relevant exchange or OTC option, and falls within the brokers intermediary scope.
“consultancy” refers to the brokers role of assisting you with the set up and implementation of your crypto storage device, electronic wallets and crypto addresses.
“crypto addresses” are end to end encrypted codes that are personalised and specific to a particular coin and a particular exchange and storage device.
“exchange” is an electronic platform where buyers and sellers can transact Cryptocurrencies.
“OTC” refers to Over the Counter and encompasses transactions agreed by parties off exchange.
“storage device” is an electronic device providing security and storage. It enables you to transfer your Crypto coins onto the device and store them securely away from the exchange.
“electronic wallet” is an online portal that enables you to view your crypto portfolio via your electronic storage device and then transfer your crypto from your device when you need using an encrypted address.
2. Our Services:
(a) We offer a cryptocurrency broking, trading & consultancy service enabling us to transact Cryptocurrencies on your behalf via your account with us.
(b) We offer a CryptoCurrency storage facility via Individual Ledger Wallets for holding your cryptocurrencies.
(c) We offer a set-up process for storage devices and crypto addresses.
3. Opening an account with us:
(a) When you open an account with us, you warrant and represent that:
(i) You have accepted these terms and conditions;
(ii) You are at least 18 years of age and have the full capacity to accept these terms and conditions and enter into a transaction involving the sale or purchase of cryptocurrencies;
(iii) You have obtained, and will comply with the terms and conditions of, all licences, consents, registrations, authorisations, recognitions and exemptions necessary for the use by you of your account and the transactions you will undertake through it;
(iv) Any information you provide to us at any time will be true and accurate in all respects;
(v) You are using and will at all times use our services for your personal and non-commercial use only;
(vi) The funds you are using to buy cryptocurrency with us, and the funds realised on the sale of any cryptocurrency by us, are your own funds and you are not buying or selling cryptocurrency on behalf of any other person other than yourself;
(vii) You are not using and will at no time use our services for any transaction which is illegal or contrary to any law or regulation in force in the United Kingdom or in any jurisdiction in which you are resident at the time when the transaction is entered into;
(viii) You are not using and will at no time use our services to perform criminal activity of any sort, including but not limited to, money laundering or terrorist financing; and
(ix) You have the capability to either take delivery of any cryptocurrency you purchase or store it in a Ledger device we set up and store for you, through your use of the services.
If at any time after we have opened your account, we become aware that any of the warranties and representations you have made are untrue, we reserve the right, without notice to you, to cease processing any transactions for you, immediately close your account and take such further action as we, in our absolute discretion, see fit or are required to take under any law or regulation to which we are subject.
(b) By opening an account with us, you also acknowledge and accept that:
(i) we are not providing you or anyone else with any investment advice in connection with the sale or purchase of cryptocurrencies, you trade entirely at your own risk and we are not liable for any loss you suffer as a result of the sale or purchase of cryptocurrencies through your account with us.
(ii) cryptocurrencies are a volatile and relatively immature asset class which is subject to a high degree of volatility as well as reduced liquidity, hence any investment in them which you may make is potentially exposed to an increased risk of partial or total capital loss; and
(iii) the sale or purchase of cryptocurrencies is not currently a regulated activity under the Financial Services and Markets Act 2000 we are not an FCA Authorised Firm and as such it’s brokers and consultants are not required to be FCA regulated.
(c) To open an account with us, you will need to complete the online application form via our website and submit the relevant documents requested in accordance with our Know Your Customer (KYC) and Anti Money Laundering (AML) policies.
(d) Each account opening application will incorporate your acceptance to these terms and conditions. By completing the form, or by submitting a form to us, you consent to us carrying out such credit and identity checks as we consider necessary and in accordance with our KYC and AML policies. You also consent to us holding copies of identity documentation and sharing these details with any third-party KYC and AML verification service providers that we may use.
(e) We will confirm to you that your account has been approved and activated once you have satisfied the necessary requirements.
In some circumstances we may ask you for additional information or documentation to satisfy our AML and KYC criteria.
(f) On approval of your account with us you will generate a login and password to access your personal account settings.
(g) We are not obliged to open an account for you and may refuse your application for any reason without providing the reason for the decision. We may also impose restrictions as a condition of agreeing to open an account for you.
(h) We are able to offer a facility for the storage of cryptocurrencies. If you do not have a cryptocurrency storage device or wallet in operation that supports the cryptocurrency you wish to buy or sell at the time you make any purchases, we can assist you with the purchase and set up of a storage device or facilitate the storage via our in-house facility.
(i) Upon opening an account with us, you will need to establish a storage option. We can provide assistance with this via our consultancy service. We offer no recommendation as to the merits of one cryptocurrency wallet over another and take no responsibility or liability for any technical malfunctions of your storage device.
4. Operating your account with us and making Trades:
(a) Unless by prior agreement, you may make a trade at any time during business hours (8am – 5pm, Mon – Fri) by contacting your broker by telephone or email. All trade orders will be confirmed via a recorded telephone conversation between you and your broker prior to your broker executing the transaction for you.
(b) Any email orders placed outside of normal business hours via your account will be picked up by us during the next available business hours. Your broker will call you to confirm the transaction before it is executed.
(c) Where you are buying or selling cryptocurrency:
(i) You must credit your account with funds and funds must be cleared before we can make any purchases for you. If you are selling, the crypto will need to be deposited with us before we execute the trade or held on a storage device that we are storing. We will under no circumstances provide credit or delayed settlement terms for any client.
(ii) Funds deposited with us are for trading purposes and will be deemed as funds held for transactions hence they will be held in a non-interest-bearing account, hence interest will not be paid to you for funds deposited with us.
(iii) We will charge commission on each transaction executed on your behalf and may in certain circumstances allow for a spread variation of up to 1%. This commission & spread variation is a brokerage fee and will cover all costs of dealing, deposits, withdrawals, mining fees and transfers.
(iv) We will only accept deposited funds from an account in a name which corresponds to the details supplied to us during the account opening process. If your funds arrive from an account other than one in your own name, we will initiate a refund which may take 2-3 days to complete. Where you wish to send funds from a joint account of which you are one of the joint account holders, you must inform us in advance before sending funds. We reserve the right, at our absolute discretion, to conduct KYC verification of the other account holder(s) before accepting funds.
(v) We will record the details of each completed transaction and send you an email confirmation of the trade details.
(vi) In the event that you have set up your own storage device and generated your own addresses, we will not be liable for the loss of any crypto arising from any error you make by giving us an incorrect address.
5. Confidentiality and Disclosure of Information:
(a) Save as set out in (b) below, we agree to keep confidential and not disclose any personal information relating to you, including name, address, email address and banking details, or any of the trades you have made with us (“Personal Information”) without your written consent.
(b) We will disclose, in our absolute discretion and without notice to you, Personal Information with law enforcement, taxation authorities, data protection authorities, government officials, and other regulatory authorities when:
(i) required by law;
(ii) compelled by court order, or other legal procedure; or
(iii) disclosure is necessary to report suspected illegal activity.
If you wish to make a complaint against us, you should advise your broker of the complaint immediately. For us to investigate your complaint promptly and effectively, you must submit your complaint in writing citing all relevant details of the complaint. We reserve the right not to commence investigations until we have all the pertinent details required. We will investigate the complaint promptly and fully and provide a written response to your complaint. We are not covered by the Financial Services Compensation Scheme.
7. Force Majeure:
If we are unable to perform the services due to factors beyond our control including but not limited to an event of Force Majeure, change of law or change in sanctions policy we will not have any liability to you with respect to the services provided under this agreement and for a time period coincident with the event.
For the purposes of this clause Force Majeure means any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of G-d, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other industrial dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, cyber-attack of an exchange, other catastrophe or any other occurrence which is beyond our reasonable control.
8. Limitation of Liability:
(a)To the extent permitted by law, we will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arising from our negligence or wilful deceit or fraud.
(b) Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded.
(c) Subject to the foregoing, our aggregate liability in respect of claims based on events arising out of or in connection with any single trade, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed 100% of the amount of the transaction that is the subject of the claim less any amount of commission that may be due and payable in respect of such transaction.
You agree to defend, hold harmless and hereby indemnify us and each of our directors, employees, agents and brokers (each an “Indemnified Party”) from and against any loss, damage, cost, claim, proceeding, penalty, fine or expense, including legal fees, incurred by or suffered by any Indemnified Party which arises out of, or relates to, directly or indirectly: (i) your use of the services, (ii) your failure to fully and timely perform any of your obligations in these terms and conditions; and (iii) any of your representations or warranties made by you in these terms and conditions being, at any time, untrue or incorrect.
10. Intellectual Property:
CCOTC trademarks and logos are our property. They should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated.
11. Our Relationship:
We are an independent contractor for all purposes. Nothing in these terms and conditions shall be deemed or is intended to be deemed, nor shall it cause, you and us to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or us to be treated as the agent of the other.
It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through our services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities.
We may amend or change these terms and conditions at any time by notifying you of the revised terms and conditions. Such notification may be provided by email and your continued use of the services after the date of such notification shall constitute acceptance of any such amended terms and conditions.
(a) If any provision of these terms and conditions is or becomes (whether pursuant to any judgment or otherwise) invalid, illegal or unenforceable in any respect under the law of any jurisdiction:
(i) the validity, legality and enforceability under the law of that jurisdiction of any other provision; and
(ii) the validity, legality and enforceability under the Law of any other jurisdiction of that or any other provision, shall not be affected or impaired in any way thereby.
(b) If any provision of these terms and conditions shall be held to be void or declared illegal, invalid or unenforceable for any reason whatsoever, such provision shall be divisible from this Agreement and shall be deemed to be deleted from these terms and conditions and the validity, legality and enforceability of the remaining provisions shall not be affected.
(a) These terms and conditions constitute the entire agreement between the parties with respect to the matters covered hereby and supersedes all previous written, oral or implied understandings between them with respect to such matters.
(b) The operation of the Contracts (Rights of Third Parties) Act 1999 is hereby excluded.
(c) These terms and conditions shall be governed and construed in accordance with English law. The parties agree to irrevocably submit to the exclusive jurisdiction of the English courts.
3rd April 2020.