Terms of Service

First published:  September 9, 2024

Last updated: September 9, 2024


 

Welcome to Simple Pro, your go-to platform for user-friendly, reliable, and seamless cryptocurrency exchange! 

 

GENERAL RISK DISCLAIMER: NO MATERIAL OR ANY OTHER INFORMATION WHICH MAY BE MADE AVAILABLE ON THE SITE SHALL CONSTITUTE OR BE CONSTRUED AS A RECOMMENDATION, ENDORSEMENT, OFFER, INVITATION OR SOLICITATION TO ENTER INTO ANY TRANSACTION WITH OR PURCHASE ANY PRODUCT, OR OTHERWISE DEAL WITH DIGITAL ASSETS OR OTHER PRODUCTS. YOU FURTHER UNDERSTAND THAT NONE OF THE INFORMATION PROVIDERS, INCLUDING ANY THIRD-PARTY PROVIDERS (AS DEFINED BELOW) ARE ADVISING YOU PERSONALLY CONCERNING THE NATURE, POTENTIAL, VALUE OR SUITABILITY OF ANY PARTICULAR DIGITAL ASSET, PORTFOLIO OF DIGITAL ASSETS, TRANSACTION, INVESTMENT STRATEGY OR OTHER MATTER, AND ANY INFORMATION PROVIDED IS NOT TAILORED TO THE INVESTMENT NEEDS OF ANY SPECIFIC PERSON. YOU UNDERSTAND THAT AN INVESTMENT IN ANY DIGITAL ASSET IS SUBJECT TO A NUMBER OF RISKS, AND THAT DISCUSSIONS OF DIGITAL ASSET PUBLISHED ON THE SITE MAY NOT CONTAIN A LIST OR DESCRIPTION OF RELEVANT RISK FACTORS. PLEASE NOTE THAT MARKETS CHANGE CONTINUOUSLY, SO ANY INFORMATION, CONTENT, THIRD-PARTY CONTENT (AS DEFINED BELOW) OR OTHER MATERIAL PROVIDED ON OR THROUGH THE SITE MAY NOT BE COMPLETE OR CURRENT, OR MAY BE SUPERSEDED BY MORE CURRENT INFORMATION. YOU RELY ON SUCH INFORMATION AT YOUR OWN RISK.

 

NO PROFESSIONAL OR INVESTMENT ADVICE. OUR SITE IS NOT INTENDED TO PROVIDE TAX, LEGAL, INSURANCE OR INVESTMENT ADVICE, AND NOTHING ON THE SITE SHOULD BE CONSTRUED AS AN OFFER TO SELL, A SOLICITATION OF AN OFFER TO BUY, OR A RECOMMENDATION FOR ANY DIGITAL ASSET BY THE COMPANY. YOU ALONE ARE SOLELY RESPONSIBLE FOR DETERMINING WHETHER ANY INVESTMENT OR STRATEGY, OR ANY OTHER PRODUCT OR SERVICE, IS APPROPRIATE OR SUITABLE FOR YOU BASED ON YOUR INVESTMENT OBJECTIVES AND PERSONAL AND FINANCIAL SITUATION. YOU SHOULD CONSULT AN ATTORNEY OR TAX PROFESSIONAL REGARDING YOUR SPECIFIC LEGAL OR TAX SITUATION.

 

 

 

1. GENERAL INFORMATION

 

1.1. Terms and Conditions. These Terms are provided by Simple Pro (“Simple Pro”, “we”, “Company”), to you (‘User”, ‘you’, ‘your’).  These Terms and Conditions of Simple Pro (the “Terms and Conditions”) govern relationships between you and Simple Pro in relation to your use of our services provided through https://simplepro.io/ (the “Site”).
 

These Terms also refer to a number of additional documents which also apply to your use of our Services. Certain features of our Services may be governed by additional terms and conditions. In such cases, your use of these features means your acceptance of their specific terms. This includes:

  1. Our Privacy Policy, which sets out the terms on which we process any personal data we collect about you, or that you provide to us. 
  2. Our Anti-Financial Crime Policy, which sets out the rules for the due diligence procedures. 
  3. Our Risk Warning, which sets out important information on the risks that can arise when buying, selling, holding or investing in crypto assets. 
     

1.2. Services. We offer you an easy and convenient way to for a Digital Asset exchange service enabling you to obtain information for your purchases and sales of Supported Digital Assets, and (subject to certain restrictions) carry out any such purchases or sales on the Site (the “Services”).
 

By “Digital Asset” we mean any digital asset (including a virtual currency or virtual commodity) which is a digital representation of value based on (or built on top of) a cryptographic protocol of a computer network; and "Supported Digital Asset" means only those particular Digital Assets listed as available to trade or custody in your Digital Asset Wallet. Services and supported assets may vary by jurisdiction.
 

1.3. Agreement. By using Simple Pro, you agree to be bound by these Terms and Conditions which constitute the legally binding agreement between you and us (collectively, the “Agreement”). You must read this Agreement carefully as it governs your use of the Service. By accessing or using Simple Pro, you certify that you have read, understand, and agree to be bound by this Agreement in its entirety. If you do not agree with these Terms, you should not use the Service.
 

1.4. Contact. If you have any queries or do not fully understand the provisions of the Terms, the Policies or any other document made available to you by us, then please contact us at support@simplepro.io. 
 

 

2. RISK DISCLOSURE AND ACKNOWLEDGEMENT 

 

BY USING OUR SERVICES, YOU AGREE TO ACCEPT THESE RISKS AND ACKNOWLEDGE THAT THE COMPANY IS NOT LIABLE FOR ANY LOSSES OR DAMAGES ARISING FROM THESE RISKS. YOU ARE ADVISED TO CAREFULLY CONSIDER YOUR FINANCIAL CIRCUMSTANCES AND CONSULT WITH A QUALIFIED ADVISOR, IF NECESSARY, BEFORE ENGAGING IN DIGITAL ASSET TRANSACTIONS.

 

2.1. Regulatory risks.  Regulations concerning digital assets vary by jurisdiction and are subject to change. Regulatory developments may impact the legality, value, and usability of your digital assets. Please note, that digital assets may not be legal tender in your jurisdiction and may not be subject to insurance. 
 

2.2. Technical risks.  We strive to ensure that our service is available 24/7. However, we do not guarantee continuous, uninterrupted, or error-free operation of the service. The service may be temporarily unavailable during scheduled maintenance periods. We will provide advance notice of such maintenance whenever possible. Unforeseen issues, such as technical failures, cyber-attacks, or natural disasters, may cause unscheduled service interruptions. We will make reasonable efforts to resolve these issues promptly. In no event Simple Pro assumes responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorised access to, or alteration of, user communications. Simple Pro is not responsible for any problems or technical malfunction of any telephone network or lines, computer online systems, servers or providers, computer equipment, software, failure of email or players on account of technical problems or traffic congestion on the Internet or on via the Services or combination thereof, including injury or damage to users or to any other person's computer related to or resulting from participating or downloading materials in connection with the Simple Pro Site.  
 

2.3. Market Volatility risks. Digital asset prices are subject to extreme volatility and may experience rapid and significant fluctuations. Market conditions can change abruptly, affecting the value of your digital assets. In no event Simple Pro is responsible for market fluctuation or any losses associated with your use of Simple Pro. At any time, subject to outages, downtime, and other applicable policies, you may terminate your use of Simple Pro. 
 

2.4. Security risks. Digital assets and use of Simple Pro are susceptible to security breaches, hacking, and cyber-attacks. There is a risk of asset loss due to unauthorised access or other security vulnerabilities. Hackers or other malicious groups or organisations may attempt to interfere with Simple Pro Site in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, because the Ethereum protocol rests on open source software, there is the software underlying the Services may contain intentional or unintentional bugs or weaknesses which may negatively affect Simple Pro Site or result in the loss of digital assets. In the event of such a software bug or weakness, there may be no remedy and users are not guaranteed any remedy, refund or compensation.
 

2.5. Access Risks. Loss of access to your wallet, whether through forgotten passwords, misplaced private keys, or device malfunctions, can result in the permanent loss of your digital assets. In no event Simple Pro is responsible for any losses associated with such loss of access to your wallet. 
 

2.6. Third-Party services risks. The Simple Pro Site may contain references or links to third-party resources, including (but not limited to) information, materials, products, or services, that we do not own or control. Information provided may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may, to the extent permitted by applicable law, be changed or updated from time to time without notice, including without limitation information regarding our policies, products, and services. Simple Pro assumes no responsibility for such third-party content, you do so at your own risk, and you understand that this Agreement does not apply to your dealings or relationships with any third parties. You are solely responsible for any losses and/or liability arising from your use of any such resources. 
 

2.7. Operation of Digital assets risks.  We do not own or control the underlying software protocols that govern the operation of digital assets supported by Simple Pro. These protocols are typically open source, allowing anyone to use, copy, modify, and distribute them. We assume no responsibility for the operation of these underlying protocols and cannot guarantee the functionality or security of network operations. The underlying protocols may undergo sudden changes in operating rules, including "forks," which could significantly impact the availability, value, functionality, and/or name of the digital assets stored in your wallet. We do not control the timing or features of these changes. It is your responsibility to stay informed about upcoming protocol changes and to consider publicly available information when deciding whether to continue using Simple Pro for the affected digital asset. You acknowledge and accept the risks associated with changes to digital asset protocols and agree that Simple Pro is not responsible for such changes. Simple Pro is not liable for any loss of value you may experience as a result of changes in operating rules.

 

3. ELIGIBILITY. ACCOUNT. 

 

3.1. Eligibility. To use our Services, you must be at least 18 years old, or of the legal age to form a binding contract in your jurisdiction if that age is more than 18. By using our Services, you represent and warrant that you meet these age requirements. 
 

3.2. Legal entities eligibility. Accessing the Services on behalf of a legal entity, you represent and warrant that such entity is legally established and in good standing under the laws of their respective jurisdictions, and you further represent that You are duly authorised by such legal entity to act on its behalf, and that such legal entity agrees to be responsible to Us if You violate these Terms.
 

3.2. Account verification. To enter into Agreement with you, we are required to request personally identifiable information from you. By law, we are obliged to collect personally identifiable information from you as part of our Know-Your-Client (KYC) and Anti-Money Laundering (AML), and Prevention of Terrorist Financing (TF) practices. Before making any deposit onto your Account and at any time that we may deem necessary, we will request certain personally identifiable information from you, which may include a self-portrait photo of you and/or holding a photo-government-issued-ID, and any other document/information that we consider necessary. In order to open an account for legal entities, we may request corporate documents of your organisation, as well as, information regarding your business and your intended operations using our services, volumes, and any other information that we consider relevant to establish a business relationship. For any questions in this regard, you may contact support@simplepro.io
 

3.3. Restricted person. You represent and warrant that you are not a Politically Exposed Person (“PEP”) or Restricted Person, a family member or close associate of a PEP or of a Restricted Person. PEPs, Restricted Persons and their associates are not eligible to use our Services. 
 

By “Politically Exposed Person (“PEP”)” we mean individuals who are or have been entrusted internationally or domestically with prominent public functions by a foreign country and/or international organisation, for example Heads of State or of government, politicians, government, judicial or military officials, senior executives of state owned corporations, important political party officials, and also individuals or entities named as a restricted person or party on any list maintained by the United States of America, United Kingdom, European Union or United Nations, including the sanctions lists maintained by the U.S. Office of Foreign Assets Control or the Denied Persons List or Entity List maintained by the U.S. Department of Commerce, UK Office of Financial Sanctions Implementation, EU Directorate-General for Financial Stability, Financial Services and Capital Markets Union, US Security Council and other related entities and organisations.
 

3.4. Restricted Locations. You acknowledge that our Services may not be available in all locations and that usage may be restricted in certain areas. These include but are not limited to the Central African Republic; Democratic Republic of Congo; Eritrea; Guinea-Bissau; Iran; Iraq;     Lebanon; Libya; Mali; North Korea; Somalia; South Sudan; Sudan; Yemen.
 

3.5. Account. To register a Simple Pro account (the “Account”) and use the Service you must: 

  1. sign up to the Platform via your Google account; OR 
  2. sign up to the Platform with your assigned e-mail address and password, AND
  3. read and accept these Terms and Conditions and Privacy Policy.
     

Upon signing up, your Account will be created automatically, and you will be assigned your personal User ID. Registration is free of charge.
 

3.6. Security of your account. You are solely responsible for safeguarding the confidentiality and security of your account credentials, including your username and password. This responsibility encompasses all activities that occur under your account. You agree to promptly notify us in writing of any unauthorised use of your account or any other security breach.
 

3.7. Information accuracy. We reserve the right to investigate and verify the background and intended purpose of your use of our Services, as deemed necessary or legally mandated. You are obligated to provide comprehensive, up-to-date, and accurate information whenever requested by Simple Pro. This includes maintaining current contact information at all times. Simple Pro shall not be responsible for any complications arising from your failure to provide or update accurate information. In the event that Simple Pro has reasonable grounds to suspect any information you provide is inaccurate, we may,at our sole discretion, impose temporary or permanent restrictions on your access to some or all of our Services. Simple Pro shall not be liable to you or any third party for the consequences of these actions.
 

3.8. Permitted use.  You are permitted to use our Services only with legally-obtained funds that rightfully belong to you. We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process or governmental request. 
 

Without restricting the scope of the above, YOU MUST NOT: 

  • violate any applicable laws, including but not limited to data transfer, data privacy, data security laws, anti-financial crime, and financial sanctions laws and regulations, or securities.
  • utilise circumvention or obfuscating technologies to conceal your IP address.
  • interfere, disrupt, inhibit, damage, overburden, or impair the functioning of the Services, or negatively affect other users' full use of the Services.
  • use the Services for any illegal activities, including but not limited to fraud, money-laundering, terrorist activities, and illegal gambling, or any other types of illegal activities.
  • employ any robot, spider, crawler, scraper or other automated means or interfaces not provided by us to access the Services or to extract data.
  • try to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorised to access.
  • develop any third-party applications that interact with our Services without our prior written consent.
  • provide false, inaccurate, or misleading information, including your current location, location of incorporation, establishment, nationality, citizenship, or place of residence, or if we determine that you are accessing our Services from a restricted location.
  • attempt to modify, decompile, reverse-engineer or disassemble our software in any way;
  • attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorised to access;
  • develop any third-party applications that interact with our Services without our prior written consent; 
  • encourage or induce any third party to engage in any of the activities prohibited under this Section..
     

3.9. Suspension/Termination of the account. We reserve the right to suspend your access to our Services, close your account, or refuse transaction, reject your exchange instructions if we reasonably suspect  that you falsely represent your identity or in violation of the above-mentioned rules. Besides, we are under obligation to  report suspicious activities to the relevant authorities, or take any other action necessary for the investigation. Breach of these Terms, including any attempts to exploit or manipulate our systems or policies, will result in the immediate termination of your access to our Services.
 

 

4. SERVICES
 

4.1. General description of Services. Simple Pro empowers users with a secure and streamlined platform for different cryptocurrency exchanges. Available as a user-friendly Site, our service prioritises both convenience and security. In order to initiate a trade, you shall open an Account and simply select your desired cryptocurrency trading pair and provide the necessary information. We operate a custodial model and adhere to all applicable regulations within our jurisdiction. However, due to varying local restrictions, the specific services offered may differ by your location. Nevertheless, our unwavering commitment remains: to provide you with efficient and reliable cryptocurrency transactions, always within the bounds of regulatory compliance.
 

4.2. Trade Order. To create an exchange, you should fill in a trade order. To create a valid trade order, you shall provide: 

  1. Trading Pair.  By “Trading Pair” we mean two currencies that can be bought and sold against each other on exchange. 
  2. Amount of funds to be exchanged. 
  3. Recipient Address. By “Recipient address” we mean a unique string of letters and numbers that is used to send coins via Simple Pro after execution of a transaction.
    For every transaction, you must indicate Recipient address valid for the specific cryptocurrency and network involved in the transaction for every transaction. 
    It is your responsibility to ensure that the wallet address and network you provide are correct and accurate. We shall not be liable for any losses suffered due to transactions made to incorrect or inaccurate wallet addresses or network information provided by you.
  4. Refund Address. By “Refund address” we mean a unique string of letters and numbers that is used in case a refund is requested.
    For every transaction, you must provide us with a wallet address and network to which any refundable amounts should be returned. 
    It is your responsibility to ensure that the wallet address you provide is correct and accurate. We shall not be liable for any losses suffered due to refunds made to incorrect or inaccurate wallet addresses provided by you.
  5. Deposit Address. By “Deposit address” we mean a unique string of letters and numbers that is used to send coins from your wallet to make a transaction. 
    As part of the transaction process, we assign a Deposit Address to each transaction. 
    If you have transferred an insufficient or exceeding amount of funds to the Deposit Address, we may cancel your Trade Order and offer a refund provided that the transferred amount is more than Network Fee. Alternatively, we may offer you the execution of the Trade Order with the transferred amount at the available exchange rate. 
  6. Additional Information for the Trade Order. Depending on the Trading Pair, liquidity provider, Recipient Address and other circumstances, you may be required to provide additional information (memo, email, Refund address and any other additional identifiers) to your request. 
    It is your responsibility to ensure that you provide all required information and the information you provide is correct and accurate. We shall not be liable for any losses suffered due to transactions made to omissions of the information required to provide.
     

4.3. Execution of Trade Order. To execute your Trade Order, you should transfer funds to Deposit Address. You acknowledge and agree that Deposit Address is provided specifically for a given transaction and shall not be used for any other transactions. If you transfer funds to the same address, we cannot guarantee the refund, please contact our Support Service at support@simplepro.io. 
 

4.4. Trade Order Time Frame. We strive to conduct all transfers promptly in line with these Terms. However, the speed of depositing or withdrawing your cryptocurrency assets is also dependent on the blockchain itself and chosen crypto asset. Hence, though the usual transaction time frame takes a few minutes, it can be extended.
 

4.5. Changes to Trade Order.  The possibility to make changes to Trade order can be limited and not guaranteed. In the execution of Trade order is in the process and has the 'Confirming the transaction', ‘Exchanging’, ‘Sending’ status, the changes are not available. If the execution of Trade order has the 'Failed’ status, please contact our Support Service at support@simplepro.io. Please note, in order to change your Trade order, we may request to provide additional verifications or confirmations.
 

4.6. Non-Execution of Trade Orders. Due to rapid movements and/or volatility in the market among other reasons, we reserve the right not to execute your trade order. If the actual market rate significantly changes compared to the rate indicated at the time of your trade order, or in the event of market disruption or any other situation as we may indicate, we may refuse to execute your trade order. In such a case, upon receiving your separate instructions, we will do one of the following: (1) return the funds to the original address; (2) execute your trade order in accordance with the rate newly indicated; or (3) proceed in any other manner, as reasonably instructed by you and agreed by us. This clause aims to provide the flexibility to manage situations of high market volatility, ensuring we maintain the integrity of our Services while also respecting your preferences as a user.
 

4.7. Cancellation of Trade Order. Due to the nature of cryptocurrency transactions, once initiated and the funds were sent to Deposit Address, transactions in most cases cannot be cancelled. Thus, it is crucial that you verify all transaction details before confirming the exchange. In some exceptional instances, refunds may be possible but will be subject to specific conditions and procedures. Please refer to our Refund Policy below for further information. 

 

5. RATES AND FEES

 

5.1. Rate. To provide better Services, we offer a Floating rate for your transactions. 

A 'Floating Rate' exchange refers to a traditional cryptocurrency exchange method where an estimated receiving amount is shown at the time the trade order is created. Due to the volatile nature of the cryptocurrency market, you may receive more or fewer coins than initially expected. This is because the final amount may vary due to market fluctuations between the time you initiate the transaction and when we facilitate the completion of your exchange. While exchanging at a floating rate, you shall deposit the minimum amount indicated for the completion of the exchange. Importantly, there are no strict time or upper amount restrictions for floating rate exchanges, giving you greater flexibility. 
 

5.2. Floating Rate Fluctuations. The actual market rate at which a trade transaction is executed might differ from the rate shown at the time your trading order was submitted. You agree that we are not responsible for any such rate fluctuations. This means that the final value of your trade could be different than initially indicated, due to market conditions beyond our control. In case the final indicated amount of the transaction significantly differs from the expected, we may suspend the transaction and (1) offer you a refund, or (2) get your approval to proceed with the transaction at the indicated rate. 
 

5.3. Service Fees. Our pricing model does not revolve around a traditional percentage fee. The final rate is based on a comprehensive market analysis, and we ensure full transparency with no hidden charges or fees. By using our services, you accept and consent to this pricing method up to 1% and authorise Simple Pro, or our designated payment processor, to apply this rate to the amount you transfer to the Deposit Address.
 

5.4. Network Fee. We cannot know in advance which network fee will be taken from a specific transaction by coin’s blockchain. Therefore, we can provide an estimated amount of network fee and include it in the final calculations and cannot be held liable for any fluctuations of the network fee.
 

5.5. Taxes. Fees for Services do not include any taxes, levies, duties, or similar governmental assessments of any nature, including, for example, value-added, sales, use, or withholding taxes accessible by any jurisdiction whatsoever (collectively, "Taxes"). User is solely responsible for paying all taxes associated with the use of Service. We shall bear no responsibility for any user's violation of their tax or other fiscal or legal obligations under their respective jurisdictions.
 

 

6. REFUND POLICY
 

6.1. Non-refundable Trade Orders. 
 

  1. Trade orders with statuses such as "Confirming," "Exchanging," "Sending," and "Finished" are generally non-refundable. However, Simple Pro reserves the right to evaluate refund requests pertaining to these aforementioned statuses on a case-by-case basis, exercising its discretion to determine eligibility.
  2. Trade orders that are created by using counterfeit or imitation digital assets or assets transmitted on a test network are final and non-refundable. 
     

6.2. User Error and Ineligible Refunds: Users are generally not entitled to a refund if their actions contravene the instructions provided during the creation of the Trade order or those explicitly displayed on the Trade order page. Such circumstances include, but are not limited to:

  1. Sending digital assets other than those specified in the order or entered in the wrong network;
  2. Sending Digital Assets by the User with an expired contract;
  3. Deposit without a mandatory tag (MEMO Destination Pag, Payment ID, etc.) if it is indicated on the Trade order page;
  4. Deposit amount lower than acceptable minimum limit.
     

6.3. Refund Request Procedure. To initiate a refund request, the User must contact Support Service through officially designated communication channels. These channels include the live chat function available on the Site or email communication directed to support@simplepro.io. We expressly disclaim any responsibility for user disclosure of exchange/transaction information to unauthorised third parties or for refund requests submitted via unapproved channels. Users are cautioned against trusting unsolicited personal messages or inquiries purporting to originate from our representatives. In instances where the legitimacy of a request cannot be confirmed, Users are advised to contact Simple Pro directly at support@simplepro.io.
 

We will safeguard User funds for a maximum period of one calendar year. After the expiration of this period, the funds will be considered as dormant. Please refer to section 8 of this Agreement. 
 

6.4. Refund Options and Verification. Simple Pro offers Users the flexibility to choose between receiving a refund to the original deposit address or to a separate refund address specified during Trade Order creation. 

Notwithstanding this option, Simple Pro reserves the right, in certain circumstances, to designate the original deposit address as the sole viable solution for refund payment. 

In the course of processing refunds, we may, at our sole discretion, request additional verification of the User's deposit ownership. This verification process may involve the submission of screenshots, video recordings, transaction checks, or other forms of confirmation deemed necessary. 
 

6.5. Fees. In some cases, the refund requests may be associated with the following fees:
 

  1. Network fee.  Simple Pro reserves the right to deduct network fees associated with the refund from the original deposit amount.In instances where the refunded asset is a token and not the main  network coin, the User may be required to make an additional payment in the form of the mainnet coin to cover the network fee.
  2. Recovery fee.  Simple Pro and /or any service provider may, in certain situations, impose an additional fee to assist with the recovery of User funds. Service provider’s commissions may be deducted from the deposit amount or levied as a separate charge.
     

6.6. Disclaimer of Liability. Simple Pro and/or its service providers shall not be held liable for any funds inadvertently transmitted to fraudulent phishing websites designed to mimic the genuine Simple Pro project. Users are urged to exercise due diligence by verifying the domain address before proceeding.
 

 

7. ANTI-FINANCIAL CRIME AND KYC POLICY 

 

7.1. Description. Simple Pro is committed to upholding the highest standards of financial compliance and preventing illicit activity on its Site. This policy outlines the procedures for handling frozen funds  to ensure adherence to anti-financial crime regulations.
 

Simple Pro has implemented a meticulously crafted Anti-Financial Crime and Know Your Customer ("KYC") Policy. This policy serves as a cornerstone in our efforts to detect, thwart, and report any potential financial crimes. The policy incorporates a multi-faceted approach, including customer identification procedures,rigorous verification protocols, and comprehensive transaction monitoring measures. Furthermore, we actively engage with relevant authorities to effectively address and mitigate these risks.
 

We strongly encourage all users to thoroughly review this policy. By accepting our Terms of Service, you concurrently signify your acceptance of our Anti-Financial Crime and KYC Policy. For your ease of reference, we have published our detailed Anti-Financial Crime and KYC Policy as a separate document. However, it remains an inseparable and essential component of these Terms. To gain a comprehensive understanding of our Anti-Financial Crime and KYC Policy, kindly refer to support@simplepro.io.
 

7.2. Freezing of Funds:

  1. Right to Freeze: In case we detect any suspicious or fraudulent transaction or use of our Services for illicit purposes, we reserve the right to freeze such transaction for the period of ongoing investigation or 180 days whichever is longer, report suspicious activities to the relevant authorities, or take any other action necessary for the investigation. Breach of these Terms, including any attempts to exploit or manipulate our systems or policies, will result in the immediate termination of your access to our Services. This action aligns with our compliance obligations and safeguards against potential criminal use of the Site.
     
  2. Enhanced Due Diligence: During the freeze period, Simple Pro may conduct more in-depth due diligence on the relevant transactions and account holders. This may include enhanced scrutiny of customer identification and verification procedures, as well as a thorough examination of the transaction history.
     

7.3. Recovery of Frozen Funds
 

  1. Request for Return: Owners of frozen assets may initiate a request for their return by submitting a comprehensive explanation of the incident, details regarding the source of funds, and verifiable documentation establishing their identity and rightful ownership of the frozen assets.
     
  2. Required Documentation: Acceptable documentation may include, but is not limited to, the following:

For individuals:

  • Signed statements from the account holder
  • Scanned copies of government-issued photo identification documents (e.g., passport, driver's licence)
  • Proof of wallet  address ownership
  • Verification of any case filing with relevant law enforcement authorities (if applicable)
     

For Legal Entities: 

  • Extract from the company register/ Certificate of incorporation
  • List of directors/shareholders
  • Articles of association
  • Power of attorney (if a representative is acting on behalf of the company, and not a director)
     

Simple Pro reserves the right to refuse the return of frozen funds if the submitted information and documentation are deemed inadequate to conclusively establish the identity and ownership of the funds.
 

7.4. Multiple Victims. In scenarios involving multiple victims of a crime where funds have been frozen, Simple Pro may implement a waiting period of up to 180 days before distributing the recovered assets to requesting victims. This waiting period ensures a fair and equitable process, allowing all identified victims the opportunity to submit a claim and receive a proportional share of the recovered funds.
 

7.5. Law Enforcement Authorities. Simple Pro will cooperate fully with law enforcement agencies and regulatory bodies in any investigations concerning suspected criminal activity involving funds exchanging  on the Site. This cooperation may include the provision of relevant account information and transaction data.
 

Simple Pro is under obligation to freeze assets based on a court order or other lawful directive issued by a competent legal authority. The frozen assets will be held until the legal case is resolved or until otherwise instructed by the freezing authority.
 

Simple Pro may be required to disclose information pertaining to the owner and the frozen assets to a court of law or a legal authority in response to a Norwich Pharmacal Order or a similar legal request.

 

8. DORMANT FUNDS

 

8.1. Description. By “Dormant funds” we mean funds that become classified as dormant if they remain unclaimed for a period of one year following the initial freeze, or if the account holder fails to provide sufficient documentation to verify ownership.
 

8.2. Procedure. Simple Pro will issue a formal notification to the account holder of their intention to designate the account and/or funds as dormant. Account holders are responsible for maintaining up-to-date contact information within the system, including a designated refund address. They are also encouraged to regularly check their account activity and to promptly contact Simple Pro's Support Service if they have any questions or concerns.
 

8.3. Consequences. In the event that there is no response to the dormancy notification or attempted contact by Simple Pro within a timeframe of thirty (30) days, Simple Pro may be compelled to take one or more of the following actions:

  1. Report the unclaimed funds to the relevant authorities in jurisdictions with applicable regulations.
  2. Impose dormancy or administrative fees.
  3. Proceed with the closure of the dormant account.
     

You acknowledge that we will be under no obligation to pay any reward, incentive or interest to your dormant account in relation to the funds credited to it.

 

9. TERMINATION

 

9.1. Suspension of Account. You agree and acknowledge that we reserve the right to suspend your access to our Services at any time, in our sole and absolute discretion if we suspect, in our sole discretion, including, but not limited to any of the following: 

  • you are in violation of these Terms, 
  •  you are involved in fraudulent transactions or other illegal activities;
  • you are in violation of Anti-Financial Crime  regulation; 
  • you are in violation of a regulatory authority requirement, court order, or law;
  • the account is, or is related to any account that is, subject to any pending litigation, investigation, or governmental proceeding;
  • if we believe that an unauthorised person is attempting to gain access to your account;
  • if we believe that you are using your credentials or other account information in an unauthorised or inappropriate manner;
  • if we believe that you are a PEP that was not explicitly authorised to use our Services, or accessing our Services from Restricted Locations.
     

You agree and acknowledge that Simple Pro has the right to immediately investigate your account and/or your transactions, if we suspect, in our sole discretion, that any such account has committed a violation of these Terms or violation of applicable laws or regulations. During this period, you will not be able to perform any transactions using our Services until we complete our investigation.
 

9.2. Deletion of Account. If you wish to cancel and delete your account, you may do so at any time. Upon confirmation of account cancellation, your access to your account will be terminated. Please note, any ongoing transactions at the time of cancellation will be completed as per the transaction terms.

 

10. INTELLECTUAL PROPERTY

 

10.1. Proprietary Rights. Simple Pro Site and all its content, including but not limited to software, names, logos, slogans, designs, translations, domain names, page headers, custom graphics, button icons, scripts, fonts, colour combinations, and the overall look and feel of the Site (collectively, the "Content"), constitute the intellectual property of Simple Pro. No portion of the Content may be modified, copied, distributed, framed, reproduced, republished, downloaded, displayed, posted, transmitted, published, adapted, reverse engineered, derived, decompiled, used to create derivative works, or sold in any form or by any means, in whole or in part, without the prior written consent of Simple Pro.
 

10.2. Limited License Grant. Simple Pro hereby grants you a non-exclusive, limited licence to access and utilise Simple Pro's interface and Site. This licence permits you to download or print a copy of any portion of the Content solely for your personal use in connection with the Services, provided that you maintain all copyright and other proprietary notices intact. Any use of the Content exceeding the scope of this licence, without Simple Pro's prior written consent, is strictly prohibited and constitutes a breach of this Agreement, potentially resulting in termination of your licence. Such unauthorised use may also violate applicable laws, including copyright and trademark laws, as well as relevant communications regulations and statutes. Nothing contained herein shall be construed as conferring any licence to intellectual property rights, whether by estoppel, implication, or otherwise, except as expressly stated. This licence is revocable by Simple Pro at any time, without notice and with or without cause.
 

10.3. Trademarks. All trademarks, logos, artistic works, and other intellectual property objects (registered or unregistered) displayed on Simple Pro Site belong to their respective owners. No implied licences are granted for their use unless expressly stipulated by the owner in writing. Any unauthorised use constitutes an infringement upon the applicable legal framework.
 

10.4. User Content. You retain sole responsibility for any content (e.g., questions, comments, or any other information or data) you submit to Simple Pro ("User Content") or in connection with your use of the Services. By submitting User Content to Simple Pro, you grant to us and all other users a royalty-free, perpetual, irrevocable, non-exclusive, fully paid, and transferable right and licence to utilise, reproduce, modify, adapt, publish, distribute, translate, communicate to the public, create derivative works from, perform, and display such User Content worldwide without restriction or compensation. Please note that User Content submitted to Simple Pro becomes public upon submission. User Content posted in public areas of the Website may be indexed by search engines and accessed by the general public, which you should consider before submitting any User Content to public areas.

 

11. INDEMNIFICATION

 

You agree to indemnify us and hold us harmless upon demand from and against any claims, suits, actions, demands, disputes, allegations, or investigations brought by any third-party, governmental authority, or industry body, and all claims, liabilities, damages (actual and consequential), losses (including any direct, indirect or consequential losses, loss of profit, loss of reputation), costs, and expenses, including without limitation all interest, penalties and legal and other reasonable attorneys’ fees and other professional costs and expenses that have been reasonably incurred in connection with any claims, demands or damages arising out of or related to (i) your use of the Simple Pro Site, (ii) your violation of this Agreement, (iii) your violation of any third party right, including, but not limited to, copyright, trademark, or privacy right, and (iv) any submission by you that causes damage to a third party. 

 

We reserve the right to take control of the defence of any third-party claim that is subject to indemnification by you, in which event you shall cooperate as fully required by us in asserting any available defences. You will not settle any claims or losses without our prior written consent. 

 

12. DISCLAIMERS. LIMITATION OF LIABILITY.

 

12.1. THE SERVICE AND SIMPLE PRO SITE ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITH NO FURTHER PROMISES MADE BY US AROUND AVAILABILITY OF THE SERVICES. SPECIFICALLY, WE DO NOT GIVE ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. WE DO NOT MAKE ANY PROMISES THAT ACCESS TO THE SIMPLE PRO SITE OR ANY OF OUR SERVICES OR ANY OF THE MATERIALS CONTAINED THEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR-FREE.

ANY MATERIALS, INFORMATION, VIEW, OPINION, PROJECTION OR ESTIMATE PRESENTED VIA THE SIMPLE PRO IS MADE AVAILABLE FOR INFORMATIONAL PURPOSES ONLY, AND IS SUBJECT TO CHANGE WITHOUT NOTICE. YOU MUST MAKE YOUR OWN ASSESSMENT OF THE RELEVANCE, TIMELINESS, ACCURACY, ADEQUACY, COMMERCIAL VALUE, COMPLETENESS AND RELIABILITY OF THE MATERIALS, INFORMATION, VIEW OPINION, PROJECTION OR ESTIMATE PROVIDED ON THE SIMPLE PRO SITE. ACCORDINGLY, NO WARRANTY WHATSOEVER IS GIVEN AND NO LIABILITY WHATSOEVER IS ACCEPTED FOR ANY LOSS ARISING WHETHER DIRECTLY OR INDIRECTLY AS A RESULT OF YOU ACTING ON ANY MATERIALS, INFORMATION, VIEW, OPINION, PROJECTION OR ESTIMATE PROVIDED IN OR MADE AVAILABLE THROUGH THE SIMPLE PRO SITE.

 

THE SITE MAY CONTAIN LINKS TO OTHER THIRD-PARTY WEBSITES. WE ARE NOT RESPONSIBLE FOR THE CONTENT OF SUCH LINKS AS WE MAY NOT OPERATE THOSE WEBSITES AND PROVIDE THEM FOR YOUR CONVENIENCE. WE MAKE NO WARRANTIES OR REPRESENTATIONS, EXPRESS OR IMPLIED, ABOUT LINKED THIRD PARTY SERVICES, THE THIRD PARTIES THEY ARE OWNED AND OPERATED BY, THE INFORMATION CONTAINED ON THEM, ASSETS AVAILABLE THROUGH THEM, OR THE SUITABILITY, PRIVACY, OR SECURITY OF THEIR PRODUCTS OR SERVICES. YOU ACKNOWLEDGE SOLE RESPONSIBILITY FOR AND ASSUME ALL RISK ARISING FROM YOUR USE OF THIRD-PARTY SERVICES, THIRD-PARTY WEBSITES, APPLICATIONS, OR RESOURCES, INCLUDING RISK OF LOSS FOR ASSETS TRADED THROUGH SUCH THIRD-PARTY SERVICES. IN NO EVENT WILL WE BE LIABLE FOR ANY DAMAGES ARISING OUT OF OR RELATING TO THIRD PARTY SERVICES. THIS SECTION OPERATES IN ADDITION TO ANY LIMITATION OF LIABILITY EXPRESSED ELSEWHERE IN THIS USER AGREEMENT

 

WE ARE NOT INTENDED TO PROVIDE SPECIFIC INVESTMENT, TAX OR LEGAL ADVICE OR TO MAKE ANY RECOMMENDATIONS ABOUT THE SUITABILITY OF ANY INVESTMENTS OR PRODUCTS FOR ANY PARTICULAR INVESTOR. YOU SHOULD SEEK YOUR OWN INDEPENDENT FINANCIAL, LEGAL, REGULATORY, TAX OR OTHER ADVICE BEFORE MAKING AN INVESTMENT OR INVESTMENTS IN PRODUCTS. IN THE EVENT THAT YOU CHOOSE NOT TO SEEK ADVICE FROM A RELEVANT ADVISER, YOU SHOULD CONSIDER WHETHER THE INVESTMENT OR PRODUCT IS SUITABLE FOR YOU.

 

12.2. LIMITATION OF LIABILITY. 
 

IN NO EVENT SHALL SIMPLE PRO OR ITS REPRESENTATIVES BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, 

  1. ANY LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM : 
  • ANY RISKS IDENTIFIED IN THE RISK WARNING AS UPDATED FROM TIME TO TIME;
  • ANY ACTION OR INACTION IN ACCORDANCE WITH THESE TERMS, USER’S OMISSIONS OR BREACHES OF THESE TERMS;
  • ANY INACCURACY, DEFECT OR OMISSION OF PRICE DATA, ANY ERROR, DELAY OR INTERRUPTION IN THE TRANSMISSION OF SUCH DATA; 
  • ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE
  • THEFT, DESTRUCTION OR UNAUTHORISED ACCESS TO A DEVICE ENABLED TO ACCESS AND USE SIMPLE PRO’S SERVICES; 
  • CLOSING A DORMANT ACCOUNT AFTER ALL PRECAUTIONS AND NOTIFICATIONS WERE MADE, AND ANY OTHER COMMISSIONS AND/OR FEE CHARGED AS PER THIS AGREEMENT; 
  • INABILITY TO CONTACT USER USING THE CONTACT INFORMATION YOU PROVIDED; 
  • ANY ACTS CARRIED UPON YOUR INSTRUCTION OR IN ACCORDANCE WITH YOUR APPROVAL;
  1. ANY LOSS OF, OR DAMAGE TO, REPUTATION OR GOODWILL; ANY LOSS OF BUSINESS OR OPPORTUNITY, CUSTOMERS OR CONTRACTS; ANY LOSS OR WASTE OF OVERHEADS, MANAGEMENT OR OTHER STAFF TIME; OR ANY OTHER LOSS OF REVENUE OR ACTUAL OR ANTICIPATED SAVINGS, WHETHER DIRECT OR INDIRECT; 
  2. ANY LOSS OF USE OF HARDWARE, SOFTWARE OR DATA AND / OR ANY CORRUPTION OF DATA;
  3. ANY LOSS OR DAMAGE THAT MAY INCUR IN THE EVENT OF EXTREME MARKET VOLATILITY AND/OR AS A RESULT OF ANY CANCELLATION/AMENDMENT OF ANY TRANSACTIONS, HOWSOEVER ARISING, WHETHER DIRECT OR INDIRECT, SPECIAL OR CONSEQUENTIAL, INCLUDING, BUT NOT LIMITED TO, LOSS OF PROFIT, LOSS OF OPPORTUNITY;
  4. ANY LOSS OR DAMAGE WHATSOEVER WHICH DOES NOT ARISE DIRECTLY AS A RESULT OF OUR BREACH OF THIS AGREEMENT (WHETHER OR NOT YOU ARE ABLE TO PROVE SUCH LOSS OR DAMAGE).

 

13. MISCELLANEOUS

 

13.1. Amendments. We reserve the right to modify, suspend and/or discontinue the Site or any content without notifying you beforehand. We may also provide different capabilities and/or features for our Site and App and make changes to these Terms and Conditions from time to time without prior notification. 
 

The most recent version of these Terms and Conditions will be posted on the Site. If you continue to use the Site after the changes become effective, you agree to the revised Terms and Conditions.
 

13.2. Promotions. From time to time, Simple Pro may make available special offers or conduct promotions for users. Subject to applicable laws, Simple Pro may provide qualifying criteria to participate in any special promotion at its sole discretion. Simple Pro may at any time revoke any special offer at any time without notice. Simple Pro shall have no obligation to make special offers available to all users. Simple Pro makes no recommendation and does not provide any advice about the value or utility of any digital assets, pool, lending arrangement or Services otherwise subject to a promotion.
 

13.3. No waiver. No failure by us to notify you of any breach of any provision of these Terms and Conditions or to exercise any rights shall be deemed a waiver thereof at the same or at any prior or subsequent time.
 

13.4. Waiver of Class Action and Jury Trial. YOU AND WE AGREE THAT, BY ENTERING INTO THIS AGREEMENT, YOU AND SIMPLE PRO ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY OR TO PARTICIPATE IN A CLASS ACTION. YOU AND WE ACKNOWLEDGE THAT ARBITRATION WILL LIMIT YOUR LEGAL RIGHTS, INCLUDING THE RIGHT TO PARTICIPATE IN A CLASS ACTION, THE RIGHT TO A JURY TRIAL, THE RIGHT TO CONDUCT FULL DISCOVERY, AND THE RIGHT TO APPEAL.
 

13.5. Force Majeure. Simple Pro shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, significant market volatility, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labour dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.
 

13.6. Severability. Suppose any provision of these Terms and Conditions is deemed invalid and/or unenforceable under any statute, regulation, ordinance, legislation, or by an arbitrator or court of competent jurisdiction. In that case, such provision shall be deemed reformed or deleted but only to the extent necessary to comply with such statute, regulation, ordinance, arbitrator, or court, and the remaining provisions shall remain in full force and effect.
 

13.7. Assignment. We may assign, sub-contract or otherwise transfer rights and/or obligations hereunder without notice to you or without obtaining your consent. You may not assign, sub-contract, or otherwise transfer your rights and/or obligations hereunder.
 

13.8. Applicable law and resolution of disputes. These Terms and Conditions and any dispute claim or obligation (whether contractual or non-contractual) arising out of or in connection with it or its subject matter or formation shall be governed by the laws of England and Wales. 
 

Any disputes arising out of or in connection with this Agreement, including disputes regarding the formation, interpretation, breach, or termination of this Agreement, shall be submitted to mediation in accordance with the rules of the Centre for Effective Dispute Resolution (London). The limitation period for any disputes arising from or in connection with this Agreement shall be three months.
 

You and we shall submit all the disputes mentioned above to the jurisdiction of the courts of England and Wales. Under no circumstances shall Users be permitted to obtain awards for, and hereby waives all rights to, punitive, incidental, or consequential damages, including reasonable attorney’s fees. You further waive all rights to have damages multiplied or increased.
 

13.9. Contact details. Should you have any questions, inquiries, complaints, or comments regarding our Site, or these Terms and Conditions, please contact us via e-mail at support@simplepro.io. We will reply to you as soon as possible.