Telcoin Pte Ltd (“Telcoin”, “we”, and “our”) is a financial service that provides digital currency assets and instant transfers using blockchain technology and mobile money infrastructure via a website and mobile application. By accessing, registering with, or using our website at https://www.telco.in/, our mobile application, or our services (collectively, the “Services”), you accept and agree to these Terms of Use, together with any documents they expressly incorporate by reference (collectively, these “Terms”), which may be updated from time to time.
I. Overview
These Terms are entered into by and between you, as a current or prospective user, or as an end user of the Services, and Telcoin (collectively, “users”). Users are each referred to herein as “you”. These Terms govern your access to and use of the Services, including any content, functionality, and services offered on or through the website or the mobile application.
Please read these Terms carefully before you start to use the Services. By using the Services, you accept and agree to be bound and abide by these Terms and the Privacy Policy, found at https://www.telco.in/privacy-policy.html (the “Privacy Policy”), incorporated herein by reference. If you do not want to agree to these Terms or the Privacy Policy, you must not access or use the Services.
The Services are offered and available to users who:
Are at least 18 years old or of other legal age, according to your relevant jurisdiction, and have legal capacity to form a binding legal contract in the relevant jurisdiction;
Have sufficient experience, knowledge, and understanding of the Services and their principles and fully understand the associated risks;
Are using the Services for personal benefit and not on behalf of others;
Guarantee that any monetary assets (which, in certain jurisdictions, may include certain digital currency assets) that are transferred to the Services are not sold, encumbered, not in contention, or under seizure, nor do any third parties have a claim or right to the transferred assets. For the purposes hereof “digital currency assets” shall mean such type of assets which can only and exclusively be transmitted by electronic decentralized ledger, including but not limited to Telcoin tokens and other digital coins, digital tokens, mobile money, and any other type of digital mediums of exchange;
Will not use the Services for any illegal or Unauthorized Purpose (hereinafter defined);
Is a resident, and will remain a resident, of a jurisdiction where the Services are permitted or where Telcoin has explicitly authorized use of the Services; and
Have not previously been suspended or removed from the Services.
The term “Unauthorized Purpose” includes, but is not limited to:
Conduct that violates any law, contract, third-party right, or constitutes a tort.
Using the Services to pay for, support, or otherwise engage in any illegal gambling activities, money laundering, fraud, or terrorist activities, or any other illegal activities.
Using, or attempting to use, another user’s Telcoin account without authorization;
Providing false, inaccurate, or misleading information;
Taking any action that imposes an unreasonable or disproportionately large load on the Services;
Facilitating any viruses, trojan horses, or other computer programming that may damage, disrupt, corrupt, misuse, interfere with, surreptitiously intercept or expropriate, or gain unauthorized access to any system, data, information or services
Using an anonymizing proxy, robot, spider, other automatic device, or manual process to access the Services or extract data without Telcoin’s prior written permission;
Developing any third-party applications that interact with the Services without Telcoin’s prior written consent.
Encouraging or inducing any third party to engage in any of the activities prohibited under this Section.
By using the Services, you represent and warrant that you meet all of the foregoing eligibility requirements. If you do not meet all of these requirements, you must not access or use the Services.
II. CHANGES TO THESE TERMS
We may revise and update these Terms from time to time in our sole discretion. All changes are effective immediately when we post them, and apply to all access to and use of the Services thereafter.
Your continued use of the Services following the posting of revised Terms means that you accept and agree to the changes. You are expected to check this page from time to time so you are aware of any changes, as they are binding on you.
III. THE SERVICES
The Services assist users in sending money to family and friends. Telcoin may obligate you to open a Telcoin account (“Account”) in order to use the Services. Please see User Account for more information.
The Services are not intended for commercial transactions (such as the purchase of goods or commission of services) or for sending funds to unknown persons or organizations. It is a breach of these Terms to use the Services to send money to a recipient who is in violation of these Terms. You may not commence or receive a transaction on behalf of a third party unless you have received prior written consent from Telcoin to do so.
Depending on your jurisdiction, the following transactions (each, a “Transaction”) may be available to you:
A remittance of monetary assets to your Account;
A remittance of monetary assets from your Account to the Wallet (hereinafter defined) of a third party (“remittance”);
A remittance of monetary assets from your Account to external third-party services, including financial institutions;
An exchange of monetary assets from your Account into other forms of digital currency assets; and
Other transactions as may be defined from time to time.
If you live in a jurisdiction which Telcoin approves the sending of remittances, you may send money to another person in a jurisdiction which Telcoin approves the receiving of remittances, subject to his or her approval. If no action is taken by the recipient within five (5) days, the remittance will automatically be declined and refunded to your Account, minus any applicable fees. Please note that certain remittance types will be automatically and immediately accepted without any action by the recipient.
If you are the recipient, the funds will be transferred to you by the means approved for your jurisdiction and may include options to utilize third party services.
Payment methods and the means of receipt for the recipient depend on those methods approved for the recipient’s jurisdiction. Different jurisdictions will also have different limits for sending and receiving funds, as well as different fees for transactions. You will be required to provide certain information prior to sending each remittance.
For more information on the above, please check the mobile application or our website at https://www.telco.in/.
IV. CONSENTS AND AUTHORIZATIONS
In order to protect your money assets from unauthorized access, the Services utilize a variety of physical and technical measures designed to protect Telcoin systems and your money assets. Depending on your jurisdiction, measures may include, but are not limited to multi-signature transfers only or second factor authentication. By remitting your digital currency assets to your Account you entrust and authorize Telcoin to make decisions on the safety and security of your digital currency assets.
You agree and consent to receive communications from Telcoin via the information you provided to us at registration or by push notification via the Telcoin application. Please be aware that Telcoin will only communicate to you by these means. Communications may be limited pursuant to the terms and conditions stated in the Privacy Policy.
Telcoin may provide you with access to third-party tools or services over which Telcoin neither monitors nor has any control or input. Telcoin shall have no liability whatsoever arising from or relating to your use of optional third-party tools, and any use of such tools is entirely at your own risk.
V. TELCOIN’S FEES
You agree to pay fees for the Services, as may be displayed from time to time on the website, Telcoin application, and other forums. Fees are subject to change at Telcoin’s sole and absolute discretion and may vary by jurisdiction, transaction type, and user. Telcoin may, from time to time, introduce promotional fee rates that are limited in time and scope.
Fees will be charged directly to you at the time that you commence certain Transactions. All fees and charges incurred, whether directly or indirectly, by sending a remittance are the responsibility of the sender. All fees and charges incurred, whether directly or indirectly, by receiving a remittance are the responsibility of the recipient.
Telcoin is not responsible for any fees incurred when using third-party services unaffiliated with Telcoin. You are solely responsible for your use of such third-party services, and you agree to comply with all terms and conditions applicable to any third-party service.
If you commence a transaction that results in Telcoin becoming liable for charges or fees, you agree to reimburse Telcoin for such charges or fees.
VI. USER ACCOUNT
In order to use the Services, you may be obligated to create an Account. Your Account is the user account accessible by you after the registration process and via the Services, which is connected to an address on the Ethereum blockchain that allows the storage of digital currency assets (“Wallet”). The Services accessible by your Account will depend on your jurisdiction.
Applicable laws and regulations require all financial institutions to assist in the fight against money laundering activities and the funding of terrorism by obtaining, verifying, and recording identifying information about all customers. When creating an Account and commencing transactions, you will be subject to “know your customer” (“KYC”) and anti-money laundering (“AML”) procedures to verify your identity and ensure your compliance with AML requirements. Until these procedures are completed, no transactions may commence. Telcoin may require additional procedures from time to time, as required by applicable laws, or if more services become available to your jurisdiction or you as a user.
You are responsible for safeguarding the password that you use to access the Services and for any activities or actions connected to your password, including third-party services. You must notify Telcoin immediately upon becoming aware of any breach of security or unauthorized use of your Account.
If suspicious activity is detected from your Account, Telcoin will conduct further AML/KYC procedures and may request further information from you. You are obligated to cooperate with these procedures and must provide accurate and truthful information as requested. Telcoin reserves the right to demand information and credentials in order to verify the ownership or source of funds that are remitted to a user’s Account.
Telcoin reserves the right to refuse any of the Services, in whole or in part, to users who fail KYC/AML procedures, including, but not limited to, those relating to user identity verification, account security, and evidence regarding fund sourcing.
VII. MONITORING AND ENFORCEMENT; TERMINATION
In the event that you breach these Terms, or as Telcoin may deem necessary, Telcoin may, in its sole discretion, with or without prior notice:
Suspend your access to the Services, in whole or in part;
Prevent you from completing any transactions via the Services; and
Terminate your access to the Services, delete or deactivate your Account and all related information and files in such Account.
In the event that any of the above has occurred, you agree and acknowledge that Telcoin shall not be liable for any claims or damages due to such stoppage or termination, including those relating to any changes in prevailing market rates following such events.
In the event of termination, Telcoin will terminate the connection from your Account to your Wallet, and you will retain full control of your Wallet and its contents. You will remain liable for all obligations related to your Account even after the Account has been closed. You will not be able to close your Account if your account is subject to an ongoing investigation, dispute, or claim or is subject to a hold, reserve, or other risk control measures.
Notwithstanding the foregoing, Telcoin may, at any time, in its sole discretion and with no liability to you, refuse to perform any Transaction requested, impose limits on the Transaction amount permitted via the Services, or impose any other conditions or restrictions upon your use of the Services without prior notice. In order to comply with Telcoin’s obligations under relevant laws, Telcoin reserves the right to ask for further information or evidence relating to the purpose of the Transaction. Telcoin further reserves the right to, with or without prior notice, modify or discontinue, temporarily or permanently, any portion of the Services.
VIII. TRANSACTIONS
Failed transactions due to any technical issue, extreme network conditions, or any other cause attributable to a third party will not be automatically rolled back to your originating address. In such cases, you are required to contact Telcoin at support@telco.in to request a refund, which Telcoin may accept or deny in its sole and absolute discretion to the fullest extent permitted by law. Users must exercise due care and diligence when communicating with persons claiming to be a Telcoin representative. Telcoin assumes no liability for any communications outside of Telcoin’s official communication channels.
Upon execution of a Transaction request, it will be in process for completion unless you have insufficient funds in your Account, insufficient information has been provided for the Transaction, or it has been rejected by Telcoin pursuant to these Terms.
It is your responsibility to transact with people you know and trust. Do not use Telcoin to transact with those you do not know. Telcoin, in most cases, will be unable to reverse a Transaction. In the event of a mistaken Transaction, Telcoin may assist you in return of your assets, but Telcoin cannot guarantee the recovery of monetary assets to your Account. Telcoin accepts no liability for any losses or damages incurred by you or any third-party resulting from any non-payment or delay in payment of a money transfer to a recipient or failure to performa transaction under the Services.
When you pay for a Transaction in one currency (whether in fiat or digital currency, as applicable) and the recipient pays in another currency (including mobile money or point currencies), the exchange rates available to you via the Services may differ from those rates being offered from other institutions. These exchange rates shall not be considered investment or financial advice and cannot be used as a basis of investment strategy, legal position in the court, and nothing in the rates information can be ensured to contain no errors or misrepresentations.
It is your responsibility to determine whether any taxes apply to the Transactions you perform through the Services, and to withhold, report, and remit the relevant funds to the appropriate tax authorities. You agree that Telcoin is not responsible for determining whether any taxes apply to your transfers or for collecting, reporting, withholding, or remitting any taxes arising from any Transactions and does not act as your tax agent.
Telcoin reserves the right, in its sole discretion, to control any action or proceeding to which Telcoin is a participant and determine how Telcoin wishes to proceed. If Telcoin is notified of a court order or other legal process (including garnishment or any equivalent process) affecting you, or if Telcoin otherwise believes Telcoin is required to do so in order to comply with applicable law or regulatory requirements, Telcoin may be required to take certain actions, including holding payments to/from your Account, placing a reserve or limitation on your Account, or releasing your funds.
IX. THIRD PARTY SERVICES
In order to provide the Services, Telcoin may use the services of third parties to:
Process, store, and safeguard information, as applicable;
Conduct transfers of fiat or digital currency;
Collect payment; or
Perform any other tasks as may be requested by Telcoin from time to time.
By continuing to use the Services, you agree and acknowledge that we may use a third party to carry out the Services and that we rely on the licenses, including licenses related to money transmission, of such third parties. You further agree that we will not be responsible for any failures of the third party to adequately protect your information in such third party’s possession. You agree that your provision of your information to such third party is subject to the conditions of the third party’s terms and conditions of service and by providing your information, you agree to such third party’s terms and conditions of service. Telcoin’s current third party vendors include Wyre Payments, Inc. and Midwest Bank.
By using our services, you agree to Wyre Payments, Inc. User Agreement and Privacy Policy. Further, by using our services, you also agree to Midwest Bank’s Privacy Policy, which may be found here: https://www.midwestbank.com/privacy/.
You acknowledge that we may change the third party servicers and move your information to other service providers that encrypt your information using industry standard security technology.
X. RELIANCE ON INFORMATION POSTED
The information presented on or through the Services is made available solely for general information purposes. We do not warrant the accuracy, completeness, or usefulness of this information. Any reliance you place on such information is strictly at your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the Services, or by anyone who may be informed of any of its contents.
The Services may include content provided by third parties, including materials provided by other users and third-party licensors, syndicators, aggregators and/or reporting services. All statements and/or opinions expressed in these materials, and all articles and responses to questions and other content, other than the content provided by Telcoin, are solely the opinions and the responsibility of the person or entity providing those materials. These materials do not necessarily reflect the opinion of Telcoin. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.
XI. LINKS ON THE WEBSITE OR MOBILE APPLICATION
If the website or mobile application contains links to other sites and resources provided by third parties, these links are provided for your convenience only. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to access any of the third party websites linked to the website or mobile application, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.
XII. INTELLECTUAL PROPERTY
Telcoin owns exclusive rights, including all intellectual property rights, to any feedback, suggestion, idea, or other information or material regarding Telcoin or the Services that you provide, whether by email, posting through the Services or social media, or otherwise (“Feedback”). Telcoin is entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to Feedback, including any copyrights.
XIII. INDEMNIFICATION
You agree to indemnify and hold Telcoin and its subsidiaries, affiliates, partners, officers, directors, agents, contractors, service providers, subcontractors, suppliers, interns and employees, harmless from any claims, demands, and damages, whether direct, indirect, consequential or special, or any other damages of any kind, including, but not limited to, loss of use, loss of profits, loss of data or loss of assets, whether based in contract, tort, strict liability or otherwise, originating from or in any way relating to (a) your violation of these Terms, (b) your use of the Services, including, but not limited to, your transactions, use of the website or mobile application, and personal errors and misbehavior, (c) risks associated with exchange rates, remittance systems, and the blockchain network, or (d) software failures, protocol changes by third-party providers, internet outages, force majeure events or other disasters outside Telcoin’s control. For the purposes hereof “force majeure event” shall be understood as any event beyond Telcoin's reasonable control, including but not limited to, flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, suspension of bank accounts of any kind, extraordinary fluctuations in currency values, communications, network or power failure, or equipment or software malfunction or any other cause beyond Telcoin's reasonable control.
XIV. DISCLAIMER OF WARRANTIES
You understand that the Services are provided “as is” and that Telcoin cannot guarantee or warrant the safety and accuracy of the Services. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for anti-virus protection and accuracy of data input and output, and for maintaining a means external to our site for any reconstruction of any lost data. TELCOIN WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL-OF-SERVICE ATTACK, VIRUSES OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR CELL PHONE, COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA OR OTHER PROPRIETARY MATERIAL DUE TO YOUR USE OF THE SERVICES OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE OR MOBILE APPLICATION OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON IT OR ON ANY WEBSITE LINKED TO IT.
YOU ACKNOWLEDGE AND AGREE THAT: (i) TELCOIN DOES NOT CONTROL, ENDORSE, OR ACCEPT RESPONSIBILITY FOR ANY MATERIALS OR SERVICES OFFERED BY THIRD PARTIES, INCLUDING THIRD-PARTY VENDORS AND THIRD PARTIES ACCESSIBLE THROUGH LINKED SITES; (ii) TELCOIN MAKES NO REPRESENTATIONS OR WARRANTIES WHATSOEVER ABOUT ANY SUCH THIRD PARTIES, THEIR MATERIALS OR SERVICES; (iii) ANY DEALINGS YOU MAY HAVE WITH SUCH THIRD PARTIES ARE AT YOUR OWN RISK; AND (iv) TELCOIN SHALL NOT BE LIABLE OR RESPONSIBLE FOR ANY MATERIALS OR SERVICES OFFERED BY THIRD PARTIES.
YOUR USE OF THE SERVICES, ITS CONTENT AND ANY SERVICES, PRODUCTS OR ITEMS OBTAINED THROUGH THE WEBSITE OR MOBILE APPLICATION, AND YOUR ASSOCIATION WITH TELCOIN IS AT YOUR OWN RISK. THE SERVICES, ITS CONTENT AND ANY SERVICES, PRODUCTS OR ITEMS OBTAINED THROUGH THE WEBSITE OR MOBILE APPLICATION OR YOUR SUBSCRIPTION ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NEITHER TELCOIN NOR ANY PERSON ASSOCIATED WITH TELCOIN MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY, OR AVAILABILITY OF THE SERVICES, ITS CONTENT AND ANY SERVICES, PRODUCTS OR ITEMS OBTAINED THROUGH THE WEBSITE OR MOBILE APPLICATION OR YOUR SUBSCRIPTION. WITHOUT LIMITING THE FOREGOING, NEITHER TELCOIN NOR ANYONE ASSOCIATED WITH TELCOIN REPRESENTS OR WARRANTS THAT THE SERVICES, ITS CONTENT AND ANY SERVICES, PRODUCTS OR ITEMS OBTAINED THROUGH THE WEBSITE OR MOBILE APPLICATION WILL BE ACCURATE, RELIABLE, ERROR-FREE OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT OUR SITE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS OR THAT THE SERVICES OR ANY SERVICES, PRODUCTS OR ITEMS OBTAINED THROUGH THE WEBSITE OR MOBILE APPLICATION OR YOUR SUBSCRIPTION WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS.
TELCOIN HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WITH RESPECT TO THE SERVICES, ITS CONTENT, AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE OR MOBILE APPLICATION, INCLUDING BUT NOT LIMITED TO THE PRODUCTS, WHETHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR PARTICULAR PURPOSE. YOU ARE RESPONSIBLE FOR CONFIRMING THAT THE PRODUCTS PURCHASED THROUGH THE WEBSITE OR MOBILE APPLICATION WILL MEET YOUR REQUIREMENTS.
THE FOREGOING DOES NOT AFFECT ANY WARRANTIES WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW. IN SUCH EVENT, TO THE EXTENT PERMISSIBLE, ANY IMPLIED WARRANTIES ARE LIMITED TO 90 DAYS.
XV. LIMITATION ON TIME TO FILE A CLAIM
ANY CAUSE OF ACTION OR CLAIM YOU MAY HAVE ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICES MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE, SUCH CAUSE OF ACTION OR CLAIM IS PERMANENTLY BARRED.
XVI. GOVERNING LAW; DISPUTE RESOLUTION
All matters relating to the Services and any dispute or claim arising therefrom or related thereto shall be governed by and construed in accordance with the laws of Singapore without giving effect to any choice or conflict of law provision or rule (whether of Singapore or any other jurisdiction). Where the application of Singapore law is not permitted by applicable laws or regulations, the relevant laws of your jurisdiction may apply.
Any legal suit, action or proceeding arising out of, or related to, these Terms or the Services shall be instituted in the courts of Singapore, although we retain the right to bring any suit, action, or proceeding against you in your country of residence or any other relevant country. To the fullest extent permitted by applicable law, you waive any and all objections to the exercise of jurisdiction over you by such courts and to venue in such courts.
Notwithstanding the foregoing, in Telcoin’s sole discretion, it may require you to submit any disputes arising from the use of these Terms or the Services, including disputes arising from or concerning their interpretation, violation, invalidity, non-performance, or termination, to final and binding arbitration under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with said Rules.
To the fullest extent permitted by law, you agree that you will not bring, join or participate in any class action lawsuit as to any claim, dispute or controversy that you may have against Telcoin. You agree to the entry of injunctive relief to stop such a lawsuit or to remove you as a participant in the suit
THESE TERMS MAY REQUIRE THE USE OF ARBITRATION TO RESOLVE DISPUTES, RATHER THAN JURY TRIALS OR CLASS ACTIONS.
XVII. WAIVER AND SEVERABILITY
No waiver of by Telcoin of any term or condition set forth in these Terms shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of Telcoin to assert a right or provision under these Terms shall not constitute a waiver of such right or provision. If any provision of these Terms is held by a court or other tribunal of competent jurisdiction to be invalid, illegal, or unenforceable for any reason, such provision shall be eliminated or limited to the minimum extent such that the remaining provisions of the Terms will continue in full force and effect.
XVIII. ASSIGNMENT; NO THIRD PARTY BENEFICIARIES
You may not assign these Terms without our prior written consent. Any such assignment in violation of this prohibition is null and void.
These Terms do not and are not intended to confer any rights or remedies upon any person other than you.
XIX. ENTIRE AGREEMENT
These Terms, including the Privacy Policy, constitute the sole and entire agreement between you and Telcoin with respect to the subject matter herein and supersede all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to the subject matter herein.
XX. YOUR COMMENTS AND CONCERNS AND NOTICES TO YOU
All other feedback, comments, requests for technical support and other communications relating to the Services should be directed to: support@telco.in.
We may provide any notice to you under these Terms by sending a message to the email address you provided in your Account or by posting notice to the website or mobile application. Notices sent by email will be effective when we send the email and notices we provided by posting will be effective upon posting. It is your responsibility to keep your email address up to date.