TERMS OF SERVICES

Last updated: 04.12.17

  1. GENERAL AND ACCEPTANCE

1.1.  Welcome to Bits of Gold website (the "Website"), managed by Bits of Gold Ltd. ("Bits of Gold" or "Company" or "Service Provider"). Bits of Gold provides services and acts as agent to purchase and sell Virtual Coins (as defined below) (the "Services ”). Your registration to the use of the Services through the Website and/or the use of the Services constitutes your complete acceptance of and agreement to be bound by these Terms of Services and to the Privacy Policy. Please take time to review them carefully prior to sharing your registration information. Each time you log onto the Website and/or use the Services, you completely accept and agree to these Terms of Services and Privacy Policy , as they may be in effect at that time. In this Agreement, you and Bits of Gold are each a Party. You may also be referred to in these Terms of Service as a "User" or "Client". The "Virtual Coins" are Bitcoins (BTC), Ether (ETH), and any other virtual or cryptographic currency as may be added to the Services from time to time according to Company's sole discretion.

  1. USER ACCOUNTS

2.1.  CREATE YOUR ACCOUNT

2.1.1.     A creation of an Account (defined below) and the use of the Services are permitted only to users of the age of 18 or more. Company may refuse to provide the Services to any User that does not prove to Company's satisfaction that he meets this age limitation. Company disclaims any and all liability of any loss, damage or any other detrimental event, if User dishonestly provides unauthentic proof of his age, showing User is over 18 when actually User is younger than 18. Company may cancel any transaction under the Services at any time in case Company, in its sole discretion, believes User is under 18 years of age.

2.1.2.     By accessing or using the Services, you will be creating a personal user account with Bits of Gold (“Account”). You hereby represent and warrant that You shall: (i) not create an Account using a false identity or information, or on behalf of someone other than yourself;(ii) not have an Account or use the Services, if you are banned under any applicable law or regulation, or by Bits of Gold, from using the Service; (iii) not use your Account for commercial purposes other than for utilization of the Services, and in any case solely for your own personal account; (iv) not use your Account to engage in any illegal conduct.

2.1.3.     When creating or updating an Account, or when using the Services, you may be required to provide Bits of Gold with certain personal information that may include your full name, e-mail address, telephone number, ID number, date of birth, gender, address, identification card/passport or other identifying document copy, wallet identification information etc. This information shall be held and used according to Bits of Gold's Privacy Policy. You agree that you shall supply accurate and complete information to Bits of Gold, and that you shall update that information promptly, if it changes. Any adverse result due to inaccurate or not up-to-date Account information, shall be User's sole responsibility and Bits of Gold shall not have any liability in connection therewith.

2.1.4.     Accounts may be deactivated following a written User request to deactivate them (provided that any current activity in the account is completed). Without derogating of any rights of Bits of Gold as provided under these Terms of Service, Bits of Gold reserves the right to deactivate any Account that has not been active for 180 days.

2.2.  SECURITY OF YOUR ACCOUNT

2.2.1.     You shall not share the Account or the login information, let anyone else access your Account, or do anything else that might jeopardize the security of your Account. If you become aware of or reasonably suspect any breach of security, including without limitation any loss, theft, or unauthorized disclosure or use of your login information, you must immediately notify Bits of Gold and modify your login information. You shall be responsible for maintaining the confidentiality of the login information, and you shall be responsible for all uses of the login information, whether or not authorized by you. You shall be responsible for anything that happens through your Account. Bits of Gold reserves the right to cease any Service at any stage thereof and/or remove or reclaim any usernames and/or deactivate any Account, at any time and for any reason, including but not limited to claims by a third party that a username violates such third party’s rights.

  1. THE SERVICES

3.1.  REGULATION

3.1.1.     Virtual Coins are relatively new concepts, and the applicable worldwide regulation is constantly developing; including, without limitation, anti-money laundering and anti-terrorism funding legislation and regulation that concerns the regulation of Virtual Coins in various aspects. At this time, Bits of Gold is not aware of any legal impediments on the provision of the Services provided that they are in compliance with the applicable regulations. In the event that a regulatory agency imposes new regulations on the Services and/or in connection with Virtual Coins, Bits of Gold may, in its sole discretion, modify these Terms of Service, its internal compliance policies, and the procedures applicable to Users in order to obtain the Services, to align with such new regulations, either under the Israeli jurisdiction under which Bits of Gold operates, or under any other applicable jurisdiction. Notwithstanding the foregoing, at Bits of Gold's sole discretion, it may shutdown the Website and Services at any time.

3.2.  SCOPE OF SERVICES

3.2.1.     First you must set up an Account as detailed above, and provide all information required by Bits of Gold. If you do not complete all require information, including appropriate identification as required through the Service and under applicable regulations, which must be satisfactory to Bits of Gold at its sole discretion, Bits of Gold may refuse to provide you the Service. Bits of Gold may require that you add additional details, provide additional credentials or identification papers, reproduce new copies of identification papers you have presented, etc., and your compliance with such request is a conditions precedent for the provision of the Services. To the extent you have provided and/or transferred funds to Bits of Gold prior to the completion of your identification and/or the completion of setting up of your Account according to Bits of Gold procedures, Bits of Gold shall return such funds to you, to the same account or credit card from which the funds have been transferred (and in the event of a cash deposit, the return of the funds shall be made at Company’s premises or through a third party service provider of the Company, at Company’s sole and absolute discretion, less any losses that may have occurred to Bits of Gold in connection with such transaction (e.g., if the applicable exchange rate determined for the purchase of the Virtual Coins has dropped and Bits of Gold already committed to purchase the Virtual Coins for you from its Third Party Service Providers (as defined below), a loss is created to Bits of Gold).

3.2.2.     Within the Services, Bits of Gold allows you to buy certain Virtual Coins and sell certain Virtual Coins. In consideration of the Services, Bits of Gold shall be entitled to a commission, as detailed in each instance when you make a use of the Services. Information about the applicable commissions for each type of Service and each type of Virtual Coin, is detailed also in the Q&A section of the Website or in other section of the Website. Bits of Gold reserves itself the right to update, change, amend, modify, suspend, continue or terminate all or any part of the commissions collected by it in connection with its Services, at any time and without notice.

3.2.3.     . Concluded transactions are irreversible. BITS OF GOLD RESERVES THE RIGHT TO REFUSE ANY ORDER FOR ANY REASON.

3.2.4.     The following limitations apply to the use of the Services for Users: Bits of gold reserves the right to change any of the following, at its sole discretion.

 

Payment Method

Cash

Credit Card

Bank Transfer

Limitations – User is in Israel

Up to ILS 10,000.

Minimum: USD 50 (In ILS rates)

Maximum:

Per 24 hours – USD 10,000 (In ILS rates).

Per month – USD 50,000 (In ILS rates).

Minimum ILS 2,000.

Maximum: According to regulation.

Limitations - User outside of Israel

Not available.

Minimum: USD 50 (In ILS rates)

Maximum:

Per 24 hours – USD 10,000 (In ILS rates).

Per month – USD 50,000 (In ILS rates).

Every transfer must be specifically reviewed and approved by Bits of Gold.

 

3.2.5.     Bits of Gold reserves the right, in its sole discretion, to change any transaction limit and/or policy.

3.2.6.     Bits of Gold’s business hours are [Sunday- Thursday,] from 9:30 am to 6:00 pm. Any actions you take outside of these hours may not be processed by Bits of Gold until the next business day. For instance, when you buy Bitcoins from Bits of Gold, you may transfer the purchase money to Bits of Gold’s bank account after the opening hours, however, you understand that Bits of Gold will not proceed with the purchase of the Bitcoins for you and/or will not obtain Bitcoins for you during those hours, and that the exchange rate for your transaction will be set in accordance with Section 4.2 below at the next business day.

3.2.7.     Bits of Gold uses third parties to receive funds, to process certain types of payments, to conduct risk analysis, to mine and/or produce and/or offer Virtual Coins, as applicable for the requested Service and for the selected payment method ("Third Party Service Providers"). Bits of Gold reserves the right to change and replace such Third Party Service Providers at its sole Discretion. The services provided by such Third Party Service Providers shall be governed exclusively by the terms of use or other terms and conditions of such Third Party Service Providers, and Bits of Gold shall have no responsibility or liability with respect to any of their acts or omissions and any result thereof.

 

  1. BUYING BITCOINS

4.1.  Process.

Website Transaction

4.1.1.     After you place your order to buy Virtual Coins on the Website, you will receive the bank account details of Bits of Gold, confirming that you may proceed with the transfer of the purchase money to our bank account. Please do not transfer any money to our bank account unless the bank account details are displayed in the order (confirming that the order was created). Any money that will be received without our prior confirmation will not be used to purchase Virtual Coins. If you will not transfer the money within 48 hours within Bits of Gold confirmation email, your order will be cancelled unless Bits of Gold decides otherwise.

4.1.2.     After you transfer the purchase money to Bits of Gold’s bank account, Bits of Gold will use its best efforts to purchase and/or obtain the Virtual Coins for you, as soon as possible. Please refer to Section 4.2 below for more information on the Time of Exchange Rate determination. However, since Bits of Gold depends on Third Party Service Providers, it cannot guarantee the timing of obtaining the purchased Virtual Coins, which depends on various commercial considerations of the Third Party Service Providers. For example, with respect to Bitcoins, the time of a blockchain approval depends on miners' confirmation.

Cash Transaction

A cash transaction can be made in either one of the following ways:

4.1.3.     ATM. Purchase using the first Bitcoin ATM in Israel located at the Bitcoin Embassy (Achuzat Bayit #1, Tel Aviv). You need to go into the Embassy, deposit cash and get Bitcoins sent directly to Your Bitcoin wallet. Currently, Ethereum is not available for cash payments through the ATM, however such service may be made available in the future.

4.1.4.     GMT. The second way is through a cash deposit using one of the GMT branches. For this option, You must first open an order on the Website. Then You have to physically go to one of the GMT branches listed on the Website, and request to deposit money to Bits of Gold / to buy Bitcoins. The clerk will ask for your email address (the one you registered in your order) and will ask for a copy of Your ID and any additional personal information or documentation (depending on the then applicable regulatory guidelines). After depositing the money, Bits of Gold will receive a notification, identify Your order and lock the Bitcoin rate in accordance to Section 4.2 below (for more information on the Time of Exchange Rate determination). 

Credit Card Transaction

4.1.5.     Currently, it is important to know that the credit card payment option is done through Coinmama - a trading Bitcoin company or Simplex (will be back as an option soon) – which provides Bitcoin exchanges, broker websites and wallet applications. If You choose to make the transaction through Coinmama then, You will need to register on Coinmama’s website and follow the procedure as specified on said website. when the transaction will be made through Simplex, then you will be referred to Simplex’s website.

4.1.6.     In either case, in order to pay with credit card You must first go through a full KYC authentication process by Bits of Gold.

4.1.7.     After You enter your credit card information, the clearing is done by the third-party service provider, and the initial purchase is expected to take up to two hours (during working hours). The Bitcoin rate is locked automatically immediately after receiving clearing approval by such third-party service provider. After receipt of clearing approval by Bits of Gold, You will receive an email announcing the approval of the transaction.

 

 

4.2.  Applicable Exchange Rate. The rate appearing on Bits of Gold’s website, when placing the order in scope of any of the applicable processes described above, is an estimate only and will not be the final rate. The applicable exchange rates applicable for purchasing Virtual Coins transaction shall be as follows:

 

 

Cash Payment

Credit Card Payment

Bank Transfer Payment

Time of Exchange Rate determination

As soon as practicable Immediately following the confirmation of the Transaction by the Third Party Service Provider, or each round hour, and in any event based on reasonable commercial efforts of Bits of Gold.

At the time of confirmation by Third Party Service Provider of the transaction, at its sole discretion.

Only during the Company's Business Hours (as defined above), at each round hour after completion of the transfer of funds to Bits of Gold's bank account and the identification of the funds by the Company. The identification process will take place by the user uploading a reference number and a reference copy of the transfer to the Company's website. The Company reserves the right to set the exchange rate upon identification without the reference number and the reference copy of the transfer, if it succeeds in recognising the transfer without the aforementioned.

Processing Third Party Service Provider

GMT ltd.

Please refer to applicable separate terms and conditions

SimplexCC ltd.

please refer to applicable separate terms and conditions  or Coinmama’s services

Moneynetint ltd.

Please refer to applicable seperate terms and conditions

Comments

Company may determine the exchange rate prior to confirmation of transaction by the Third Party Service Provider, in which case this exchange rate shall be the binding rate for the transaction.

 

 

4.3.  . You also understand that it may take some time until the money you have transferred to Bits of Gold’s bank account is actually received and available for use. 

4.4.  Wallets. When Utilizing any of the Services offers by Bits of Gold, You must make sure you have a valid and operational wallet, details of which will be provided by You to Bits of Gold. Bits of Gold is not and will not be responsible of any damages or loss in relation to your wallet or your Virtual Coins. You are responsible for the security and integrity of your own wallets. Bits of Gold is not responsible for payments made to an incorrect wallet address or an incorrect bank account, as such are provided by You.  It is hereby emphasized that Bits of Gold cannot and will not give advice or service with regards to any wallet, wallet providers and/or bear any liability of whatsoever kind with Your operation of Your wallet. It is Your responsibility to provide Bits of Gold with the details of the relevant wallet for the specific transaction (i.e. bitcoin transaction will require a Bitcoin wallet, whereas an Ethereum transaction will require an Ethereum wallet, and also utilization of Bitcoin Cash and Bitcoin Gold wallets for the specific transactions, etc.).

4.5.  No right to sell. You agree and understand that buying Virtual Coins through Bits of Gold does not grant you any right to sell such Virtual Coins or other Virtual Coins back to Bits of Gold. Although you bought Bitcoins through Bits of Gold, you might not be able to sell them through Bits of Gold in the future.

4.6.  Source of Funding. By accepting these Terms of Services, and by using the Services, you represent and declare that the origin of the money transferred to Bits of Gold is from your own personal finances and that the origin of the money is legitimate and is not related to any illegal activity, in Israel or any other jurisdiction.  Taxes on this money have been paid as required by the law. By accepting these Terms of Services, you represent and declare that the transfer of money is exempt from taxes and does not represent an income for the receiver; you further demand that this operation shall incur 0% taxes according to paragraph 161-170 of the Israeli Income Taxes law.

 

  1. SELLING VIRTUAL COINS

1.1.  Types of Coins you may sell. The Services also allow you to sell certain types of Virtual Coins to Bits of Gold, in exchange for Israeli Shekels, US Dollars and Euros and other currencies. the payment shall be made to the bank account you identified in your selling order.  The types of Virtual Coins you may sell to Bits of Gold may be changed from time to time at Bits of Gold sole discretion. You will know which types of Virtual Coins you may sell through the Service in accordance with the options that will actually be available to you when you access the Website from time to time.

1.2.  Selling Process. you will be required to transfer the Virtual Coins to Bits of Gold’s wallet. It may then take some time until the transaction is fully confirmed (for example, with respect to bitcoins, 6 confirmations by the bitcoin network are required in order to process the transaction).

1.3.  Exchange Rate for the Selling transaction. You fully understand and agree that the rate at Bits of Gold’s website is an estimate only, and will not be the final rate of the transaction. Only once the transaction is fully confirmed, as applicable to the type of Virtual Coin at hand, the exchange rate of your transaction will be set according to Bits of Gold’s rate (please refer to Section 4.2 above for more information on the Time of Exchange Rate determination). However, since Bits of Gold depends on Third Party Service Providers, it cannot guarantee the timing of actual sale of Virtual Coins, which depends on various commercial considerations of the Third Party Service Providers. . Bits of Gold will then issue a transfer of the applicable amount according to such exchange rate to your bank account, as per the said rate and less the Bits of Gold commission fees.

1.4.  No Cancellation of Selling transaction. When placing a 'Sell' order (i.e. sending Bitcoins to Bits of Gold and receiving Israeli shekels or USD/EUR), you therefore agree: once you sent the Virtual Coins to the wallet Bits of Gold provided, there is no cancellation or refund, under no circumstances, including technical or human mistakes. Notwithstanding the foregoing, if you made an error and transferred the Virtual Coins to a wallet other than the one provided by Bits of Gold, you shall not be entitled to receive any payment from Bits of Gold.

1.5.  In connection with Ethereum –Bits of Gold currently offers buying only. When placing a 'buy' order (i.e. sending payment for the purchase of Ethereum), you therefore acknowledge and agree: (i) purchase of Ethereum by Bits of Gold is made in two steps: first the purchase of Bitcoins, and then the purchase of Ethereum with those Bitcoins, based on the BTC/ETH rate, and therefore, to the extent Your buy order is made in a currency (or Virtual Coins). Bits of Gold will first convert such currency into Bitcoins and only then complete the transaction (in each case with the applicable exchange rates as detailed in this Agreement), less Bits of Gold fees [You therefore acknowledge there’s a difference in the pricing between the pricing of ETH/USD and ETH/BTC/USD]; (ii) once you sent the Virtual Coins to the wallet Bits of Gold provided, there is no cancellation or refund, under no circumstances, including technical or human mistakes. Notwithstanding the foregoing, if you made an error and transferred the Virtual Coins to a wallet other than the one provided by Bits of Gold, you shall not be entitled to receive any payment from Bits of Gold. Please note the currently Bits of Gold does not offer Ethereum sell services, but may offer such in the future.

 

  1. RESTRICTIONS & PROHIBITIONS

2.1.  Without derogating from any provisions of this Agreement, the following prohibitions apply to using the Services: You shall not use the Services connected with violating any applicable law or regulation, or doing anything that promotes the violation of any applicable law or regulation; Except where permitted by law or the applicable licenses, you may not reverse engineer, decompile, disassemble, decipher or otherwise attempt to derive the source code for any underlying software or other intellectual property used to provide the Services, or to obtain any information from the Services using any method not approved in writing by Bits of Gold ; You agree not to reproduce, republish, upload, post, transmit, make available to the public, or otherwise distribute, any part or any modification or derivative work of the Services ; You shall not use the Services to design or assist in designing cheats, exploits, automation software, bots, hacks, mods or any other unauthorized third-party software to modify or interfere with the Services; You may not institute, assist or become involved in any type of attack, including distribution of a virus, attacks upon the Services that prevent access to or use of the Services, other attempts to disrupt the Services, gain unauthorized access to the Services, or disrupt any other person’s use or enjoyment of the Services; You may not transmit unauthorized communications through the Services, including junk mail, chain letters, spam and any materials that promote malware, spyware and downloadable items; You shall not use any unauthorized third-party software that accesses, intercepts, 'mines', or otherwise collects information from or through the Services or that is in transit from or to the Services; You shall not bypass any robot exclusion headers or other measures Bits of Gold uses to restrict access to the Services or use any software, technology, or device to send content or messages, scrape, spider, or crawl the Service, or harvest or manipulate data; You shall not use, facilitate, create, or maintain any unauthorized connection to the Services, including: (i) any connection to any unauthorized server that emulates, or attempts to emulate any part of the Services; or (ii) any connection using programs, tools, or software not approved in writing by Bits of Gold ; You shall not post any information that is abusive, threatening, obscene, defamatory, libelous, or discriminatory based on age, ethnicity, race, religion or sex or that contains a link to such content; You may not attempt to, or harass, abuse, or harm of another person, group, including Bits of Gold employees and customer support representatives; You may not solicit or attempt to solicit personal information from other users of the Services ; You may not collect, harvest or post anyone’s private information, in any media format, through the Services; You shall not make available through the Services any material or information that infringes any copyright, trademark, patent, trade secret, right of privacy, right of publicity, or other right of any person or entity or impersonates any other person; You shall not copy, modify or distribute rights or content from the Services, or Bits of Gold’s copyrights or trademarks or use any method to copy or distribute the content of the Services except as specifically allowed in this Agreement.

  1. TERMINATION OF ACCOUNT AND SERVICES

3.1.  Any use of the Services that violates this Agreement is strictly prohibited and can result in the immediate revocation of your limited right granted by these Terms of Service. Without limiting any other remedies, Bits of Gold may limit, suspend, revoke, terminate, modify, or delete your Account or access to the Services if you are, or Bits of Gold suspects in its sole discretion that you are failing to comply with these Terms of Service or for any actual or suspected illegal or improper use of the Services or if Bits of Gold believes that you are creating risk or possible legal liabilities, infringing the intellectual property rights of third parties , with or without notice to you.

3.2.  Without derogating the aforementioned, Bits of Gold reserves the right, in its sole discretion, for any reason, to stop offering and/or supporting the Services or part of the Services at any time either permanently or temporarily, either to certain Users or in general, at which point your right to use the Services shall be automatically terminated or suspended. In such event, Bits of Gold shall not be required to provide benefits or other compensation to users connected with such discontinued elements of the Services, other than possible refunds. Upon termination of your Account, your Account log in credentials may not be reserved and it may not be possible to re-instate them. You hereby acknowledge and agree that Bits of Gold is under no obligation to compensate you for any losses resulting from the cease of Services as set forth hereinabove, whether such closure was voluntary or involuntary.

  1. OWNERSHIP

4.1.  The Services and the Website and all of the content that appears therein, including without limitation, the Company's and/or the Service’s and/or the website's name, software, technologies, source code, concepts, artwork, photos, animations, sounds, methods of operation, moral rights, documentation, and virtual Items, is the exclusive property of Bits of Gold, or is being used with permission from its licensors. Bits of Gold (or its licensors as applicable) retain all rights, title and interest in and to the Services and/or the Website and all of the content that appears in the Services and/or the Website, and all intellectual property rights relating thereto, including without limitations all copyright, patent, trademarks, tradenames, design rights and any other proprietary rights connected with the Services and/or the Website.

4.2.  Notwithstanding any provision to the contrary herein, you agree that you have no right or title in or to the Services and/or the Website and/or to any content that appears therein. Bits of Gold’s name and logo, and any other trademarks included in the Services and/or the Website are trademarks of Bits of Gold. All third party trade names or trademarks that may appear in the Services and/or the Website are trademarks of their respective owners. No transfer or grant of any rights under any names, marks or logos is made or is to be implied by any provision of these Terms of Services or by anything on the Services and/or the Website, and all rights in such names, marks or logos is reserved to Bits of Gold and their respective owners.

4.3.  Notwithstanding anything to the contrary herein, you agree that you shall have no ownership or property interest in any Account. You further agree that Bits of Gold owns all rights in and to an Account.

  1. LINKED SITES; ADVERTISING

5.1.  To the extent that the Services contain links or any other information to third party websites or services ("Third Party Websites"), Bits of Gold does not control the availability and content of those Third Party Websites and their services. Any concerns regarding any such Third Party Websites or any link thereto, should be directed to such particular Third Party Website. Bits of Gold makes no representation or warranty regarding any content, goods and/or services provided by any Third Party Website, even if linked to the Services. Bits of Gold shall not be liable for any claim relating to any Third-Party Website content, goods and/or services. The Third Party Websites are not under the control of Bits of Gold and may collect data or solicit personal information from you. Bits of Gold is not responsible for their content, business practices or privacy policies, or for the collection, use or disclosure of any information those sites may collect.

5.2.  You agree that the Services may feature advertisements from third parties. Bits of Gold is not responsible for the actions of third parties who advertise on the Services or to the content of such advertisements. Your interactions with such advertisers are agreements between you and them and Bits of Gold has no responsibility or liability for such interactions, and is not a party to any transaction which may result from such interactions between User and an advertiser.

 

  1. DISCLAIMER

6.1.  By using our Services, you represent and warrant that you understand the risks associated with Virtual Coins.

6.2.  Bits of Gold makes no assurances or warranties about the value, performance, or integrity of any Virtual Coin or of the Bits of Gold Website and/or Service. If or when in doubt regarding any or all of the Services and/or Website and/or your use thereof, please obtain independent legal and/or financial advice, including but not limited to, the buying, selling and trading of Virtual Coins, under the local laws of your jurisdiction, and exercise your own judgement with respect to any action you make in your Account and/or otherwise through the Services.

6.3.  Bits of Gold accepts no responsibility for the accurate maintenance of the Website information, calculation, or valuation. You bear the entire risk of loss, including, but not limited, for data, calculation, and valuation of Virtual Coins and their related transactions.

6.4.  THE SERVICES ARE PROVIDED TO YOU 'AS IS' AND WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESSED OR IMPLIED. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, BITS OF GOLD DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, INFRINGEMENT AND FITNESS FOR A PARTICULAR P URPOSE. WITHOUT LIMITING THE FOREGOING, NEITHER BITS OF GOLD NOR ITS AFFILIATES OR SUBSIDIARIES, OR ANY OF THEIR DIRECTORS, EMPLOYEES, AGENTS, ATTORNEYS, THIRD-PARTY CONTENT PROVIDERS, DISTRIBUTORS, JOINT-VENTURES, LICENSEES OR LICENSORS (COLLECTIVELY, 'BITS OF GOLD PARTIES') REPRESENT OR WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED , ERROR-FREE, OR FREE FROM VIRUSES OR OTHER HARMFUL COMPONENTS. YOU AGREE THAT USE OF THE SERVICES IS AT YOUR SOLE RISK. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN IMPLIED WARRANTIES. ACCORDINGLY, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.

  1. LIMITATION OF LIABILITY
  2. YOU ACKNOWLEDGE AND AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, THE SERVICES UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT ( INCLUDING NEGLIGENCE) , AND THAT UNDER NO CIRCUMSTANCES WHATSOEVER WILL BITS OF GOLD OR ANY OF BITS OF GOLD PARTIES , EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, BE RESPONSIBLE OR LIABLE TO YOU OR TO ANY OTHER ENTITY FOR ANY COMPENSATORY, INDIRECT, INCIDENTAL, CONSEQUENTIAL (INCLUDING FOR LOSS OF PROFITS, LOST BUSINESS OPPORTUNITIES, LOSS OF GOODWILL, LOST OF DATA DESTRUCTION OR IMPAIRMENT) SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES THAT RESULT FROM OR RELATE IN ANY MANNER WHATSOEVER TO YOUR USE OF OR IN ABILITY TO USE THE SERVICES . IF YOU ARE DISSATISFIED WITH THE SERVICES, OR WITH THE TERMS OF SERVICE, OR YOU HAVE ANY DISPUTE WITH BITS OF GOLD, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SERVICES. YOU FURTHER SPECIFICALLY ACKNOWLEDGE THAT NEITHER BITS OF GOLD NOR ITS BITS OF GOLD PARTIES ARE LIABLE, AND YOU AGREE NOT TO SEEK TO HOLD BITS OF GOLD AND/OR BITS OF GOLD PARTIES LIABLE, FOR THE CONDUCT OF THIRD PARTIES, INCLUDING THIRD PARTY SERVICE PROVIDERS AND THIRD PARTY WERBSITES, AS WELL AS OTHER USERS OF THE SERVICES, AND THAT THE RISK OF THEIR SERVICES AND OF INJURY FROM THE FOREGOING RESTS ENTIRELY WITH YOU OR SUCH THIRD PARTIES. BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. IN SUCH JURISDICTIONS, BITS OF GOLD 'S LIABILITY IS LIMITED AND WARRANTIES ARE EXCLUDED TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW.
  3. INDEMNIFICATION

You agree to defend, indemnify and hold Bits of Gold and/or any of Bits of Gold Parties harmless from any and all claims, losses , costs , liabilities, and damages (including, but not limited to, direct, incidental, consequential, exemplary, indirect damages and reasonable attorneys ’ fees, expert fees ’ and other reasonable costs of litigation) incurred to any Bits of Gold Party as a result of, or in connection with, or in any manner related to a third party claim brought against Bits of Gold, based on any of Your acts or omissions.  including without limitation your failure to comply with the Terms of Service or any violation by you of these Terms of Service or any breach of the representations and warranties made by you herein. ; Bits of Gold reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify Bits of Gold , and you agree to cooperate with Bits of Gold ’ s defense of these claims. Bits of Gold shall use commercially reasonable efforts to notify you of any such claim, action, or proceeding upon becoming aware of it; and You agree that the provisions in this paragraph shall survive any termination of your Account or the agreement under these Terms of Service.

  1. MISCELLANEOUS
  2. These  Terms of Service, including the Privacy Policy, shall be governed by and construed exclusively in accordance with the laws of the state of Israel. If any provision of the Terms of Service, including the Bits of Gold’s Privacy Policy, is determined to be invalid or unenforceable, the provision shall be deemed to be severable from the remainder of the Terms of Service and shall not cause their invalidity or unenforceability. These Terms of Service, including Bits of Gold ’ s Privacy Policy, constitutes the entire agreement between you and Bits of Gold with regards to the subject matter herein . It supersedes all prior understandings of the parties hereto relating to the subject matter hereof, whether electronic, oral or written, or whether established by custom, practice, policy (including any information available on the Website) or precedent, between you and Bits of Gold regarding the Services. Bits of Gold may assign its rights and obligations hereunder, in whole or in part, at its sole discretion, to any person or entity at any time with or without your consent. You may not assign or delegate any rights or obligations under these Terms of Service and/or the Services without Bits of Gold’s prior written consent. Services access may be interrupted, suspended or terminated from time to time due to circumstances either within or beyond Bits of Gold’s control. Bits of Gold shall not be liable for any delay or failure to perform resulting from causes outside the commercially reasonable control of Bits of Gold, including without limitation any failure to perform hereunder due to a force majeure event, such as acts of God, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, accidents, network infrastructure failures, strikes, or shortages of transportation facilities, fuel, energy, labor or materials. If you have concerns relating to the Services and/or the Terms of Service, please contact us at info@bitsofgold.co.il.