Terms

Terms and Conditions
for the provision of services by Formula.cash

Purpose and scope of the Terms and Conditions (User Agreement) for the provision of services by the Formula.cash
01.02.2024

1.1. This User Agreement for the provision of services by the Formula.cash (hereinafter referred to as the Agreement) establishes the requirements and contains a description:
1.1.1. The procedure for the provision of services of the Formula.cash.
1.1.2. Public offer by Users of Formula.cash services.
1.1.3. Differentiation of responsibility for the use and provision of services by the Formula.cash service.
1.1.4. Measures to minimize the risk of money laundering and terrorist financing.
1.2. Formula.cash or Service is an optimized online platform for providing Users with the opportunity to buy/sell cryptocurrency, located and functioning on the website on the Internet https://formula.cash
1.3. All services of the Service are provided under Govern law and Contract law – the laws of Republic of Türkiye “Turkey”. In accordance with the current legislative regulation, in the Turkey, the activity on the civil circulation of cryptocurrency is not prohibited by law.
1.4. Before using the services of the Formula.cash, the User is obliged to familiarize himself with the terms of this Agreement, annexes to the Agreement, the Privacy Policy of the Service published on the Service website, and accept them.
1.5. The use of the services of the Service is possible only if the User accepts all the terms of the Agreement and documents, in accordance with clause 1.5. of this Agreement.
1.6. The current version of the Agreement is located for public access on the Service website. The Service Administration has the right to unilaterally change the terms of this Agreement at any time. Such changes come into force after 3 (three) calendar days from the date the new version of the Agreement is posted on the website, unless a different procedure for entry is specifically provided for in the new version of the Agreement. If the User disagrees with the changes made, he is obliged to refuse access to the Service website and stop using the materials and services of the Service by sending an appropriate email to compliance@formula.cash
1.7. These Terms and Conditions and any amendments and restatements hereof (the «Agreement») form a legal agreement covering the provision of services from Formula.cash – is an online blockchain platform for trading and exchanging digital assets existing in the form of distributed ledger entries, which is accessed through the Site located https://formula.cash.
1.9. By signing up to use an account through Formula.cash, or any associated websites, APIs, or mobile applications, including any URLs operated by Formula.cash, you agree that you have carefully and thoroughly read, understand, and accept all of the terms and conditions contained in this Agreement including our Privacy Policy.

The Agreement contains very important information regarding your rights and obligations, as well as conditions, limitations and exclusions that might apply to you. You should read it carefully.
Non-English translations of this Policy are provided for convenience only. In the event of any ambiguity or conflict between translations, the English version is authoritative and controls.
Access to the services of the Site is limited, make sure that you meet the selection criteria set out in this Agreement. In particular, the Site does not currently provide services to residents or citizens of the United States, individuals or legal entities who reside, are citizens or registered in any territory with restricted access or in any of the jurisdictions listed in paragraph 6 entitled “Prohibited jurisdictions”, as well as to persons suspected of involvement in terrorist activities and the proliferation of weapons of mass destruction or who are on sanctions lists.

2. Terms and definitions

2.1. Escrow – is a special conditional crypto-wallet of the Service, on which the User’s cryptocurrency is taken into account until the fulfillment of the obligations for counter-refund on account of the transaction, used by the Service at the time the Users make transactions under the Ads.
2.2. KYC & AML – Know Your Customer and Anti-Money Laundering.
2.3. P2P – (“Peer-to-Peer”) – a method of making transfers (transactions) between individuals, carried out directly without an intermediary.
2.4. Account – a unique account on the Service website that identifies the User.
2.5. Blockchain – is a continuous sequential chain of blocks (linked list), built according to certain rules, containing information about transactions between digital keys (wallets) of users, which can be transferred from one computer (person) to another via the Internet.
2.6. Application – an expression of the User’s intention to use one of the services offered by the Service by filling out an electronic form through the Service website, on the terms described in this Agreement and specified in the parameters of this Application.
2.7. Cryptocurrency – digital assets: Bitcoin, Ethereum, Tether.
2.8. Rate – the value ratio of cryptocurrency, electronic money and fiat currency among themselves when exchanging.
2.9. Service – is a systеm that provides Users with the ability to exchange cryptocurrency for electronic money and (or) national currency, as well as exchange electronic money and (or) national currency for cryptocurrency, located and functioning on the website on the Internet at https://formula.cash.
2.10. National currency (fiat currency) – legal tender of the respective state.
2.11. Announcement (Ads) – an offer to buy / sell cryptocurrency posted by Users on the Service, containing the mandatory conditions provided for by the form published on the Service website, either through mobile applications for IOS and Android, or through Telegram-bot @cryptovortex_pro).
2.12. Partner – a person who provides the Service with services to attract Users, the terms of which are described in this Agreement.
2.13. Payment – transfer of cryptocurrency, electronic money or fiat currency from the User to the User or from the User to the Service, as well as in the opposite direction.
2.14. Payment systеm is a software and hardware product developed by a third party and is a mechanism for the implementation of accounting for monetary obligations and the organization of mutual settlements between its Users.
2.15. User (Seller and Buyer) – a capable individual over 18 years of age, or a legal entity using the services of the Service.
2.16. Messages – are letters sent by e-mail.
2.17. Funds – cryptocurrency, electronic money and fiat currency, in accordance with section 5 of this Agreement.
2.18. Service services – assistance in carrying out P2P transactions between individuals for the exchange of cryptocurrencies, as well as other services, information about which is posted on the Service window.
2.19. Electronic money – funds in the accounts of Users of electronic payment systems.
2.20. Digital Assets – «Cryptocurrency» (such term to be broadly understood to inсlude digital currencies such as Bitcoin, Tether, Ethereum) and any other services described in this Agreement provided by Formula.cash. Your use of the services will be governed by this Agreement, along with our Privacy Policy.

3. The mode of operation of the service. Support. Contacts.

3.1. Service support on all issues of Users works:
07:00 – 24:00 (UTC+3) – mon – fri
09:00 – 24:00 (UTC+3) – sat – sun
3.2. Users can contact Support through a special form on the Service website https://formula.cash, by e-mail: [email protected]; [email protected]
3.3. Address for legally relevant correspondence: [email protected]

4. Rules for using an account on the Formula.cash website

4.1. The service is intended for personal use only. By registering on the site, the User gives his consent to the transfer of reliable data about himself to Formula.cash in accordance with the registration procedure on the Site. The User also agrees that he will not use any account other than his own, and will not try to gain unauthorized access to the accounts of other users or to the infrastructure of the Service.
4.2. The Service has the right to carry out additional checks of the User’s information and request from the User any necessary documentation for any reason related to his use of the Service and / or as supporting evidence for any information that the User provides to the Service (for example, a request for screenshots, video confirmations, online screenshots, etc.).
4.3. The Service Administration may at any time and at its sole discretion deny the User the opportunity to open an account, block it or suspend any transaction until the end of consideration of the information provided by the User.
4.3.1. During the consideration of disputes arising from the implementation of transactions on the Ads of Users, the Service may request any evidence from the parties to the transaction. The procedure for providing evidence is determined by the Service individually for each disputable case.

The company cannot guarantee the timely provision of services, as there are external factors that may affect their continuous provision. Nevertheless, the Company makes every effort to ensure the continuous and effective functioning of the Platform.
Part of the Company’s service and responsibility to the User is to maintain the security of the User’s account. The Company will create an individual alphabetical line associated with the e-mail address provided by the User, a unique identifier or ID (account) for each User during registration.
The company provides users with a wallet where digital assets can be stored. The platform will store digital assets in a wallet maintained by the Company on your behalf.

Providing services

The Service’s services are ordered by the User by sending an Application through the Service website.
The Service provides services only for exchanging cryptocurrency for electronic money or fiat currency, or vice versa. The service does not carry out foreign exchange transactions in relation to national money and is not subject to Turkish and international legislation on foreign exchange regulation and exchange control.
You represent and warrant that only you are and will always remain the ultimate and legal beneficial owner of any digital assets on the Platform and linked to your account. You will not act as a nominee holder or trustee for any other person. You must not transfer, assign, pledge, charge or otherwise create any security interests or obligations in respect of such digital assets without the prior written consent of the Company.
The company, as appropriate, is not obliged to accept applications unless there are enough digital assets in the account to settle the relevant transaction and to pay for any fees and expenses related to such operations.
By using the Company’s products/services/services, you agree to the information services provided by us. You hereby authorize us to send you commercial information by e-mail. You can refuse such services by changing the appropriate settings on the Site. You acknowledge and agree that the services are provided by us in accordance with the current technological capabilities and other terms of the Site.
Although we have made every effort to ensure the continuity and security of products/services/services, we cannot fully foresee and insure legal, technological and other risks, including force majeure, virus, attack by intruders, systеm instability, third-party errors, government actions, etc., which can lead to service interruption, data loss and other risks.
We do not ask for passwords and do not ask for the transfer of any funds from our users. We do not ask for digital asset addresses.
We are not responsible for any losses caused by the transfer of funds, addresses of digital assets or digital assets, depending on the circumstances not specified on the Platform.
The Service can cancel an Order created by the User for the purchase of digital and/or electronic or fiat currency if payment for such an order has not been received to the service details within 30 (thirty) minutes from the moment such an order was created.
The Service’s obligation to transfer (transfer) the received digital and/or electronic or fiat currency to the User is considered fulfilled at the moment the digital and/or electronic or fiat currency is written off from the relevant Payment systеm from the Service account, which is recorded in the transaction history of the relevant Payment systеm.
Within the designated regulatory timeframe (depending on the direction of the exchange), from the moment of receiving electronic and/or digital or fiat currency from the User, in the amount specified in the corresponding Request, the Service is obligated to transfer to the User the monetary equivalent of the listed digital and/or electronic or fiat currency, using the method chosen by the User when creating the Request.
The Service is obliged to transfer to the User the cash equivalent of the listed digital and/or electronic or fiat currency, in the manner selected by the User when creating the Application, within the time allotted by the regulations (depending on the direction of exchange) from the moment of receiving electronic and/or digital or fiat currency from the User, in the amount specified in the relevant Application (Order).
The amount of the Service’s remuneration for these actions is reflected in the Application and confirmed by the User on one of the pages of the user interface.
The Service’s obligation to transfer the monetary equivalent of the transferred digital and/or electronic or fiat currency is considered fulfilled at the moment the corresponding amount is written off from the Service’s account.
We have the right to know the goals and background of Users who use the Company’s products/services/services. Users should provide comprehensive and accurate information as necessary. If we have reasonable grounds to suspect that the user has provided false information, we have the right to temporarily or permanently restrict the user in the use of some or all of our products/services/services.
Any distortion or fraudulent use of accounts on the Platform is considered a significant violation of the terms of this Agreement.
If the Company becomes aware or in connection with trading activities it is proved that the User’s account on the site is used to carry out fraud, the Company will immediately suspend and block the User’s account.
The Company reserves the right to take the necessary legal measures against any parties to protect the rights of the Company, the rights of users of the Site and the Company’s resources.
The User represents and guarantees that the User has all the authority to accept the terms of this Agreement, that the User has not previously been suspended from using the Site and/or the Company’s products/services/services, does not reside, has no citizenship or registration in any territory with limited access or in any of the jurisdictions listed in section 6 of this Agreement entitled “Prohibited jurisdictions”, is not on the sanctions lists and is not suspected of involvement in the legalization (laundering) of proceeds from crime or the financing of terrorism.
The company does not provide its products/services/services in all markets and not in all jurisdictions. The Company may restrict or prohibit the use of the Site and/or its products/services/services in the countries/jurisdictions specified as prohibited in section 6 of this Agreement.
The Company may, at its discretion, limit the number of accounts that the User may hold, maintain or purchase. The User is fully responsible for the password that the User assigns to the User’s account, for its security and protection against disclosure.
The User must immediately notify the Company if the User detects or otherwise suspects a security breach related to the User’s account on the Site.
The Company is not responsible for any hacking, malicious attempts or phishing attacks undertaken to access the User’s account and wallet through his web browser or hardware devices.
The User is fully responsible for all actions related to his use of the Site and the Company’s products/services/services through his account and/or using a password, as well as for the security of the User’s computer systems.
The user must not create different accounts for their own use. Any malicious, fraudulent or otherwise misuse of the Site may result in the automatic suspension and/or termination of the Company’s products/services/services.
The User acknowledges that he understands that transactions that have the character of legalization of funds obtained by criminal means may be blocked. Detailed information on the measures taken by the company to counteract the legalization (laundering) of proceeds of crime and the financing of terrorism is contained in the AML/KYC Policy.

Prohibited jurisdictions. USA citizens.

6.1. The list of countries/jurisdictions and territories with which cooperation is prohibited due to high risk or other reasons includes the following countries:

Albania
Algeria
American Samoa
Afghanistan
The Bahamas
Bangladesh
Barbados
Burma
Bolivarian Republic of Venezuela
Botswana
Burkina Faso
Virgin Islands
Haiti
Gibraltar
Democratic Republic of the Congo
Democratic Republic of Korea
Jordan
Iraq
Iran
Yemen
Canada
Cayman Islands
Crimea
Cuba
Libya
Malaysia
Mali
Mozambique
Myanmar
Nigeria
Guam Island
Pakistan
Panama
Pridnestrovian Moldavian Republic
Puerto Rico
Republic of Abkhazia
Republic of Artsakh
Republic of Ghana
Republic of Nicaragua
Republic of Sudan
Republic of Trinidad and Tobago
Republic of South Sudan
Saudi Arabia
North Korea
Senegal
Singapore
Syria
United States of America
Somalia
Tanzania
Tunisia
Uganda
Philippines
Sri Lanka
Yemen
Ethiopia
South Africa
South Ossetia
South Sudan
Jamaica

6.2. USA citizens
6.2.1. “United States” or “U.S.” means the several states of the United States and the District of Columbia;
6.2.2. “U.S. Citizen or U.S. Resident” includes any U.S. citizen, U.S. lawful permanent resident, protected individual under section 1324b(a)(3) of the U.S. Immigration and Nationality Act, or individual who holds a passport issued by the United States Government (i.e., a US national);
6.2.3.“User Submissions” has the meaning set out in paragraph 11 of these Terms of Service;
6.2.4. “U.S. Financial Institution” means any U.S. Person and any of its affiliates, branches, offices, or agents incorporated, organized, or located in the United States or Territory or Insular Possession of the United States that is engaged in the business of: (I) accepting deposits; (II) making, granting, transferring, holding, or brokering remittances, loans, or credits; or (III) purchasing or selling foreign exchange, securities, commodity futures or options, or procuring purchases and sellers thereof, whether as principal or agent, and this term applies to affiliates, branches, offices, and agencies of any foreign financial institution that are located in the United States or Territory or Insular Possession of the United States, but not such foreign financial institution’s affiliates, branches, offices, or agencies located outside the United States and Territory or Insular Possession of the United States;
6.2.5. “U.S. Person” means:
a U.S. Citizen or U.S. Resident;
a corporation, partnership, or other entity established or organized in or under the Laws of the United States;
any estate of a decedent who was a U.S. Citizen or U.S. Resident;
any trust if (I) a court within the United States is able to exercise primary supervision over the administration of the trust, and (II) one or more United States Persons have the authority to control all substantial decisions of the trust;
any Person organized or incorporated outside the United States and the Territory or Insular Possession of the United States in which any of the foregoing, whether singularly or in the aggregate, directly or indirectly (I) holds a 50 percent or greater equity interest by votes or value, (ii) holds a majority of seats or memberships on the board of directors of the entity, or (III) authorizes, establishes, directs, or otherwise controls the actions, policies, personnel decisions, or day-to-day operations of the Person; or
any pension plan for the employees, officers or principals of a legal entity described in paragraph 6.2.2, unless the pension plan is primarily for foreign employees of such entity.

7. Content and use

All text, graphics, user interfaces, visual interfaces, photos, trademarks, logos, sounds, music, works of art and computer code, design, structure, selection, coordination and location of such content on the Site are owned, controlled or licensed by the Company, and are protected by a trademark, patent or other property rights.
The Company hereby grants the User a personal, non-exclusive license to access the Site and allows you to use the Company’s products/services/services exclusively to perform operations by the User in accordance with this Agreement.
The User may not use the Company’s content or products/services/services for any illegal purpose or other purposes not mentioned in this Agreement, as well as allow any third party to use the Company’s products/services/services on its own behalf or in the interests of any third party in any way.
No part of the content may be copied, reproduced, republished, downloaded, posted, publicly displayed, encoded, translated, transmitted or distributed in any way (including “mirror use”) to any other computer, server, website or other environment for publication or distribution or for any commercial use or enterprise, without the express prior written consent of the Company.
The User may use the information specifically provided by the Company for viewing or downloading from the Site, provided that such information is used only for the personal, non-commercial information purposes of the User. The User undertakes not to make any changes to any such information and not to make any additional submissions or warranties regarding such information.
The User may not use any automatic device, program algorithm or methodology, or any similar or equivalent manual process to access, acquire, copy or control any part of the Site or its content, or in any way reproduce or bypass the navigation structure or presentation of the Site or any of its content in order to obtain or attempt to obtain any materials, documents or information by any means. The Company reserves the right to block any such activity.
The User shall not attempt to gain unauthorized access to any part of the Site and/or the Company’s products/services/services, or any other systems or networks connected to the Site or any of its servers by hacking, “exhibiting” passwords or any other illegal means, including the use of virtual private networks or any other mechanism that would facilitate the prohibited use or access to the Site and/or the Company’s products/services/services.
The User must not investigate, scan or verify the vulnerability of the Company’s services or any network connected to the Site, or violate security or authentication measures.
The User shall not attempt to track any information about any other user or visitor to the Site, including any account on the Site that does not belong to the User, or use any product/service/service of the Company or information provided or offered on the Site, including, but not limited to, personal identification or information other than the User’s own information, as provided for by the Site.
The User cannot use the accounts of other Users.
The User may not use any device, software to interfere or attempt to interfere with the proper operation of the Site services or any transaction carried out on the Site.
The user may not forge headers or otherwise manipulate identifiers to hide the origin of any message or data transmission through the Site.
The User may not use the Site and/or products/services/services of the Company for any purpose that are illegal or prohibited by this Agreement or other Policies related to the User’s use of the Site and the Company’s products/services/services, or request any illegal activity, violating the rights of the Company or other persons.
The User shall not use the Platform in any way that can initiate or damage the operation of the Platform, impair its availability.
The user must not make illegal payments and settlements, including payment by illegally obtained funds, such as a fictitious transaction, incorrect price, transaction refund, etc.
The user must not make illegal money transfers, any illegal, fraudulent or malicious actions in accordance with applicable law.
Without the written permission of the Company, the User does not have the right to carry out any commercial activity on behalf of this Site or in any form of the Site as a place, platform or means of participation in commercial activities.
The User also agrees that the Site hosts an online blockchain platform for trading and exchanging digital assets, transactions with fiat currency are possible only as part of the purchase/sale of cryptocurrencies. The use of the account for the purpose of exchanging fiat currencies is prohibited.
The User also agrees that any violation by the User of the terms of this Agreement will constitute illegal and unfair business practices and will cause irreparable damage to the Company.
The company reserves the right to use any legal remedies.
The User agrees that the Company may, at its discretion and without prior notice, terminate access to the Site and/or the Company’s products/services/services and/or block future access to the User’s account if it determines that the User has violated the terms of this Agreement and/or other Policies related to the User’s use of the Site and the Company’s products/services.
The User agrees that the Company may, at its discretion and without prior notice, terminate access to the Site and/or products/services/services of the Company upon receipt of a request from law enforcement agencies or other state bodies, a request from the User (deletion of accounts), termination or significant change of the Company’s products/services/services, or to eliminate a technical problem.
The User agrees that in order to prevent and/or stop illegal actions, the Company has the right, at its discretion, to suspend the account and restrict access to the Company’s products/services/services provided on the Site; close/block the account and the funds that are listed behind it; suspend or cancel the transaction regardless of debiting funds from the account from third-party financial service providers, accounts or e-wallets.
The Company has the right to restrict or block your access to the Site and the products/services/services provided, but not limited to, in the event of:

violation of the terms of this Agreement, including violation of obligations to pay for transactions, attempted unauthorized access to the Site or a third party account, use of several accounts and abuse of the benefits of promotions;
if the Company has reason to believe that the purpose of the transaction is illegal activities (directly or indirectly), including, but not limited to, terrorist financing, money laundering, fraud, corruption, circumventing sanctions restrictions, etc.;
court decisions or decisions of another competent authority regarding you or your operations that require appropriate action on the part of the Company within the framework of applicable applicable law;
refusal of any third-party provider to provide services to you;
force majeure, including operational and technical errors;
if you have not made transactions in relation to services for twelve months or more in a row;
if there is reason to believe that the provision of services to you will result in a negative impact on the Company’s business reputation;
if the Company reasonably believes that your account is linked to any other account that has been suspended or terminated for violation of the terms, the Policy, or suspended for any other reason that may have negative consequences for the Company;
if you have not provided information at the request of the Company or the information provided does not meet the requirements of the Company;
if the Company believes that your account and/or transaction do not comply with acceptable risks or Company Policies.
7.24. In case of suspension or cancellation of access to the Company’s account, Site and/or products/services/services provided in connection with the circumstances provided for in this Agreement or the Company’s Policies, the Company has the right to:
7.24.1. cancel outstanding and/or pending applications for the purchase of digital currency;
7.24.2. withhold any fiat money that you paid for the acquisition of digital currency from the Company, but that you did not receive. Responsibility for the consequences in the form of withholding funds by the Company lies solely with you;
7.24.3. block all funds that are in your account;
7.24.4. block, suspend or terminate your account;
7.24.5. withdraw funds stored in your account received in it, as well as funds deposited by you into your account for the transaction.

In case of suspension or termination of your account, as well as cancellation of outstanding and/or pending applications, withholding, blocking or withdrawal of funds, the Company may provide you with notice of such action. The Company is not obliged to disclose information obtained as a result of procedures that meet the Company’s security requirements, risk management and compliance with the requirements of the Policies.
If the Company does take any legal measures against the User as a result of the User’s violation of the terms of this Agreement, the Company will be entitled to reimbursement of such expenses, and the User agrees to pay all reasonable legal costs and expenses for such legal actions, in addition to any other expenses incurred by the Company.
The User agrees that the Company will not be liable to the User or any third party for suspending or terminating the User’s access to the Site and the Company’s products/services/services as a result of any violation of the terms of this Agreement.
The User agrees that in order to ensure security, the Company may limit the withdrawal of cryptocurrency from the User’s account, the creation of codes, as well as the exchange of cryptocurrency in the P2P section of the Platform for a period of up to 6 (six) hours from the moment of the first replenishment of the User’s account with fiat currency.

8. Account verification

8.1. In order to conclude a contract with the User, the Company is obliged to request personal information from the User, which may inсlude copies of the User’s documents, his photos, contact details, proof of residence in any territory.

8.2. By law, the Company is obliged to collect personal information about the User within the framework of the “Know Your Customer” (KYC) practice and combating money laundering (AML) and prevent the financing of terrorism and the proliferation of weapons of mass destruction.

8.3. Before crediting any receipt of funds to the User’s account, the Company has the right at any time to request certain personal information from the User, which may inсlude, but not be limited to, a photo of the User and/or copies of the User’s documents, payment bank cards, and any other document/information that the Company deems necessary.

9. Costs

9.1. Tariffs for the provision of services are determined by the Service and published on the Service website. The Service Administration has the right to change tariffs without additional notification to Users.
10. Liability and damages

10.1. Except as prohibited by law, the Company shall in no case be liable to the User for any indirect, consistent, exemplary, incidental or other losses, including loss of profits, even if the Company is notified of the possibility of such damage.

10.2. The User agrees to compensate for damages to the Company, its officials, directors, participants, predecessors, successors, employees, agents, subsidiaries and affiliates caused by the User.

11. Compliance of the use of the Site and/or products/services/services of the Company with the requirements of the legislation.

1.1. You are the person who is solely responsible for the use of the Site and/or the products/services/services offered by the Company if, under applicable law, the use of the Site and/or products/services/services is illegal.

11.2. If the Company has reason to believe that your use of the Site and/or the products/services/services offered by the Company is contrary to the requirements of applicable law, including those related to prohibited activities, the Company may suspend or refuse to provide you with services without notice of the reasons for the refusal.

11.3. You are solely responsible for paying taxes and fees applicable to your transactions on the Site in accordance with applicable laws. The company does not provide legal explanations or advice in connection with the collection of taxes and fees.

11.4. In its activities, the Company adheres to applicable legislation and the best international standards and practices, and expects you to comply with the terms of this Agreement and the Company’s Policies. Internal risk management documents, AML/KYC and others are developed by the Company additionally and are internal documents of the Company with restricted access. Such documents comply with the terms of this Agreement and the Company’s Policies.

12. Limitation of liability

12.1. To the extent permitted by applicable law, neither the Company nor its affiliates shall be liable for any damage in connection with your use of the Site and the Company’s products/services/services.

12.2. The use of any information obtained on the Site or through the use of the Site is carried out solely at risk to users of the Site. To the extent permitted by applicable law, the Company disclaims any responsibility regarding decisions made by Users on the basis of information obtained on the Site or through the use of the Site.

12.3. The Company does not guarantee operational and functional support for the Site. To the extent permitted by applicable law, the Company disclaims liability in the event of any defect or unavailability of the Site and/or its content, or in case of other direct or indirect damage arising from access to or use of the Site. The Company is not responsible for causing any damage caused by interruptions in the operation of services, technical errors, malware or files, other factors beyond the control of the Company.

12.4. The Company is not responsible for your failure to receive the purchased digital currency, fiat money in case you provide incorrect information regarding the virtual wallet, public key, payment details or refusal to conduct the operation by third parties (banks/providers, etc.), etc.

14. Taxation of the User’s operations

14.1. The Service is not a tax agent for the User and does not calculate the User’s tax payments, and is not obliged to notify the User about his tax costs. The User undertakes to independently pay all taxes in accordance with the tax legislation of the jurisdiction where the User is a tax resident.
14.2. No interaction of the User with the Service can be understood as the establishment between the User and the Service of agency relations, partnership relations, joint activity relations, personal employment relations, or any other legal relations not expressly provided for by the Agreement.

15. KYC & AML

15.1. Formula.cash service operates on the basis of the legislation of Turkey, as well as ratified international agreements:

International standards on combating money laundering and the financing of terrorism & proliferation (Financial Action Development Group against Money Laundering – FATF, February 2023;
Specially Designated Nationals And Blocked Persons List (SDN) Human Readable Lists OFAC, (the “Regulation”) and other legal guidelines given by 8.1.1.Guidance for a risk-based approach to virtual assets and virtual asset service providers (FATF), the European Parliament and of the Council (the “Instruments”)
Main Principles Regarding the Prevention of Money Laundering and Financing of Terrorism For Crypto Asset Service Providers (MASAK, May 2021)
and any other regulations and/or circulars and/or manuals issued from time to time by the laws of Republic of Türkiye

15.2. In order to minimize the risks of legalization (laundering) of funds and financing of terrorism, the Service reserves the right to refuse to provide exchange services at any stage if it is assumed that the exchange is in any way related to the purposes of legalization (laundering) of funds, financing of terrorism or other illegal activity in accordance with the legislation of the state where the Service is located, the state of which the User is a resident, or in accordance with international legislation.
15.3. Verification of the User’s identity and his phone number on the Service is optional. The lack of verification does not impose restrictions / limits on the User’s account. A profile marked “Verified” is more credible to other Users.
Having a verified User’s phone number reduces the risk of fraudulent actions on the part of participants in transactions.
15.4. To get the “Verified” mark, you need to contact the Service support [email protected], by sending an e-mail message with the subject “Verification”. The procedure for contacting and its content is indicated at the Service support address https://formula.cash
16.5. The protection of personal data of Users is provided by the Service in accordance with the current legislation of the state where the Service is located and the Convention for the Protection of Individuals with regard to Automated Processing of Personal Data (ETS No. 108).
15.6. The methods of processing and protecting the personal data of Users are governed by the Regulation on the processing and protection of personal data published on the Service website.
15.7. In case of detection of falsification (compromise) of communication flows or any negative impact on the normal operation of the Service’s program code, which is directly or indirectly related to the User’s Application, the execution of the Application by the Service is suspended.

16. Responsibility

The Service is not liable to the User for financial losses caused by illegal actions of third parties.
The Service is not responsible for any postponed or unfulfilled Announcements caused by an error in the Payment systеm or the bank indicated by the User in the completed Announcement. The user agrees that in this case, all claims will be sent to the appropriate Payment systеm or bank. The Service, at the request of the User, assists in the provision of documents confirming the use of the services of the Service for transactions, when the User submits a complaint or request to the administration of the relevant Payment systеm or to the bank.
The Service does not verify the legality and legality of the User’s possession of cryptocurrency, electronic money or fiat currency involved in a particular Operation. The Service presumes the good faith and legality of the possession, use and disposal of bank cards (accounts) by the User and the Funds on them indicated by the User during the Payment. The Service is not responsible for the possession, use and disposal of bank cards (accounts) and Funds by the User. All risks and responsibility for the possession, use and disposal of bank cards (accounts) and the Funds on them lie with the User.
If it is necessary to make changes to the data of his account, the User must contact the Service Support, in accordance with clause 3.2 of the Agreement.
The User is obliged to immediately notify the Administration of the Service about any unauthorized use of the User’s account or password, compromise of credentials, alleged hacking of the Account or any other security breach by email [email protected], [email protected]
The user is obliged not to use any means to conceal his true location. The user is obliged to inform the administration of the Service, upon its request, his exact and true location. If the Service determines that the User’s activity is suspicious or related to any kind of illegal activity, the Service may suspend the Account, block unfulfilled or reject subsequent transactions.
The user is responsible for the accuracy and completeness of the information and data that he provided when registering on the Service website. If the User has entered inaccurate or incorrect personal data or provided incorrect data for the execution of the Application / Announcement, the Service is not responsible for any losses of the User resulting from such actions, regardless of their intentionality.
The Service is not responsible in cases when the User accesses a fake site or a Telegram bot, or applications of the Service for IOS / Android, imitating the real address of the Service site, a real bot, applications. The actual address on the Internet of the Service website, as well as the Telegram bot, the Service applications for IOS / Android are indicated on the website https://formula.cash.
The use of the Service for the purpose of carrying out any kind of illegal actions is prohibited.
All services of the Service are provided without any express or implied warranties, in particular, without the implied warranties of merchantability and fitness for a particular purpose. The Service will strive to provide the User with its services as soon as possible, but there is no guarantee that access will not be interrupted or that there will be no delays, failures, errors, omissions or loss of transmitted information, including through the fault of third parties.
If this Agreement is accepted, the User confirms that:
they have been provided with complete and true information about themselves, as well as genuine identification data.
he is not a party to money laundering operations or transactions in accordance with the rules of KYC & AML.
his income is not associated with the implementation of any illegal activity in accordance with the legislation of the host country of the Service or the host country of the User, including in accordance with the rules of KYC & AML.
he is not included in any kind of “black lists”, “stop lists” or lists of persons involved in legalization (laundering) of proceeds and financing of terrorism in the territory of his country of residence.
he is not brought to legal responsibility by law enforcement or fiscal authorities of the state of his host for legalization (laundering) of proceeds and financing of terrorism, as well as for committing fraud or any other illegal actions related to theft of other people’s property.
trade, as well as any actions related to the circulation of cryptocurrency, are not illegal in accordance with the legislation of the state of residence of the User.
If, as a result of the User’s actions, regardless of whether he has intent or through negligence, the Service has suffered damage, the User undertakes to compensate for such damage in full.
The User acknowledges and agrees that the Service does not act as a financial advisor, does not provide investment consulting services, and any information transmitted by the Service to the User cannot be considered as advice or guidance for action.
The user understands and assumes all risks associated with the turnover of cryptocurrency.
Any disputes related to the terms of this Agreement, the parties to the offer undertake to settle through negotiations. In case of failure to reach an agreement, all disputes are subject to resolution in accordance with the laws of Turkey.
Information on exchange transactions is stored in the Service database and is a priority source that the parties to the offer established by this Agreement are guided by in disputable situations.

17. Force Majeure

17.1. The User or the Service are not liable to each other for failure to fulfill obligations related to the provision of exchange services by the Service caused by circumstances that arose against the will and wishes of the parties that could not have been foreseen or avoided, including declared or actual war, civil unrest, epidemics, earthquakes , floods, fires and other natural disasters, actions of authorities and other insurmountable circumstances and cannot claim any loss or damage arising from such circumstances.
17.2. The Party that does not fulfill its obligation due to force majeure must notify the other Party of the obstacle and its impact on the fulfillment of obligations without delay, but no later than 3 (three) calendar days from the date of the specified circumstances.
17.3. A Party that has not notified the other Party about the impossibility of fulfilling its obligations under this Agreement shall lose the right to refer to such impossibility.

18. Final Provisions

Information about the User and about his operations is stored on the server of the Service website. At the request of the User, access to the account can be limited or removed.
The storage period for chats from Users’ dialogs on Ads is 90 days, then the data is automatically deleted by the Service.
The response time of the Service to the User’s requests is up to five working days from the moment of receiving the corresponding User’s request.
The terms of this Agreement are agreed with the User in electronic form during registration. Consent to the User Agreement, published in electronic form, is a valid acceptance of the full content of this Agreement.
Information posted on the Service website https://formula.cash, including all graphics, text information, program codes, etc. protected by national and international copyright laws and related laws. Unauthorized copying of materials is not allowed and entails full reimbursement of losses caused to the Service.