Please read these Terms carefully. This is a legal agreement and, by signing up for a GCX LTD Account, you're agreeing to the Agreement (as defined below), including these Terms. We particularly draw your attention to clauses 4.2, 9.1, 9.3, 18.2 and 18.5.2. If you do not agree with the current terms of the Agreement, you should either not sign up for or terminate (as appropriate) your GCX LTD Account.
This Website (as defined below) is operated by GCX LTD Limited (a limited liability company incorporated in England & Wales with company number 08844328) who has its registered office at 20-22 Wenlock Road LONDON, N1 7GU ("GCX LTD", "we", "us", or "our").
Should you wish to contact GCX LTD, please email our Customer Care Team or call us on +44 (0)20 3287 8474.
In the Agreement, the following terms will have the following meanings:
"Account", "your Account", or "your GCX LTD Account" means the electronic record of:
"Agreement" or "Customer Agreement"
"Bank Account" or "your Bank Account" means the National Currency bank account(s) linked by you to your GCX LTD Account. Such bank accounts should be in your sole name;
"Bitcoin" means a type of digital currency known as cryptocurrency, which uses cryptography for security. Issuance and transactions are carried out collectively by the network, with no central authority, and are divisible to 8 decimal places;
"Bitcoin Wallet" or "your Bitcoin Wallet" means the location to which you can send and store your Bitcoins;
"BTC" means the Digital Currency of Bitcoin;
"Chain of Integrity Standard" means the minimum standard which Metal must meet before it will be accepted by us, which is, in the case of small gold and silver bars, newly fabricated bars produced by an LBMA Refiner and delivered directly by the LBMA Refiner to the Vault;
"Cold Storage" shall have the meaning set out in clause 14.2;
"Customer", "you", "your" means each legal person (individual or corporate) who has registered for an account at the GCX LTD Website and has satisfactorily completed the verification requirements of our Customer Acceptance Policy;
"Current Trading Price" means the most favorable price to the Customer at the time of placing a Request. In the case when the Customer is buying, the most favorable price will be the lowest price another Customer is selling the same unit of trade for. In the case when the Customer is selling, the most favorable price will be the highest price another Customer is willing to buy the same unit of trade for;
"Customer Acceptance Policy" or "CAP" means the customer acceptance policy (as amended from time to time) that appears on the GCX LTD Website, which policy forms part of this Agreement;
"Deposit Limit" means the maximum limit of National Currency you are allowed to deposit into GCX LTD's bank account per day and month in accordance with our Customer Acceptance Policy, as amended from time to time;
"Digital Currency" means Bitcoin and any other cryptocurrencies accepted by us from time to time;
"Disclaimer" means the general disclaimer of liability that appears on the GCX LTD Website, which disclaimer forms part of this Agreement;
"Email Address" means the valid email address that you provide to us at the time of registration (and as updated pursuant to clause 4.1) and which you will use to log into your Account;
"Force Majeure" shall have the meaning given to it in clause 20.1;
"Funding Limit" means the maximum limit of National Currency you are allowed to deposit into GCX LTD's bank account since the day of opening your GCX LTD Account;
"Hot Storage" shall have the meaning given to it in clause 14.2;
"Intellectual Property Rights" shall have the meaning given to it in clause 22.1;
"LBMA" means the London Bullion Market Association;
"LBMA Good Delivery List" means a list of approved refiners maintained by the LBMA, details of which can be obtained at http://www.lbma.org.uk;
"LBMA Refiner" means a refiner specified on the LBMA Good Delivery List;
"Metal" means physical gold or silver that meets the Chain of Integrity Standard. We record the amount and, where possible, the registration numbers of the Metal held by you at the Vault in your GCX LTD Account;
"Minimum Order Amount" is the minimum order of Digital Currency that we allow, as amended by us from time to time, as set out in our Customer Acceptance Policy;
"GCX LTD", "we", "us", or "our" means GCX LTD Limited, a limited liability company incorporated in England & Wales, with company number 08844328, and having its registered office at 20-22 Wenlock Road, N1 7GU, United Kingdom;
"National Currency" means the government-issued currency of any territory, which is accepted by us in exchange for Digital Currency or Metal from time to time;
"Order Book" means a collection of Customer buy and sell Requests including the associated quantities and requested prices;
"Password" or "your Password" means the string of 6 to 50 characters in length that you may use to access an Account;
"Privacy & Cookies Policy" means the Privacy and Cookies Policy (as amended from time to time) that is available on the GCX LTD Website, which policy forms part of this Agreement;
"Quoted Price" shall have the meaning given to it in clause 12.3.1;
"Rebate" means an amount added to the Customer's Account balance when fulfilling another Customer's Request in return for creating liquidity on the exchange. Liquidity is created by placing a Request that cannot be fulfilled by existing Customer Requests;
"Registered Bar" means a whole bar of Metal, and not a fraction of a bar of Metal, which is recorded in your Account as exclusive property of a particular Customer and in which no other person has an undivided share;
"Request" or "your Request" shall have the meaning given to it in clause 12.3.2;.
"Sanctioned Country" means any country listed by the authorities of the United Nations, United States, United Kingdom, European Union, such as, but not limited to, the Office of Foreign Assets Control ("OFAC") or HM Treasury.
"Vault" means the service provider appointed by GCX LTD in accordance with clause 17.1.5 to store Metal on behalf of all the relevant Customers, and to the extent applicable, GCX LTD;
"Website" or "GCX LTD Website" means the website accessible at https://www.gcx.io as amended and updated from time to time;
"Withdrawal Wait Time Limit" means the length of time you must wait before you can withdraw or remove your National Currency, Digital Currency, or Metal from your Account after the National Currency has been deposited into GCX LTD's bank account, or your Digital Currency or Metal received into your GCX LTD Account;
Please read these Referrer Terms and Conditions carefully before applying to become a Referrer, as they set out our and your legal rights and obligations in relation to our Referral Programme.
You should print a copy of these Referrer Terms and Conditions for future reference. We will not file a copy specifically in relation to you, and they may not be accessible on our website in future.
These Referrer Terms and Conditions are available in the English language only.
If you have any questions or complaints about our Referral Programme please contact the GCX LTD Customer Care Team.
If you are resident in any country not listed in the section above, we regret that we are currently unable to offer you an account. Please check back from time to time as we are always working to improve and further develop our platform and services.
The following two account types are offered by GCX LTD:
1. GCX LTD stores digital currency in both online ("hot storage") and offline ("cold storage") methods. The ratio between digital currency in hot and cold storage will vary at any point in time, and GCX LTD will, in its discretion, manage the quantities of digital currency of all GCX LTD customers in both the hot and cold storage facilities as it sees fit.
2. GCX LTD stores digital currency and encrypted backups in secure locations around the European Union and Switzerland.
4. All data is encrypted for storage, using multiple encryption algorithms.
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