Indodax OTC

 

GENERAL TERMS AND CONDITIONS OVER THE COUNTER

General Terms and Conditions (hereinafter referred to as “SKU”) Over The Counter (“OTC”) INDODAX is a provision that contains terms and conditions regarding the use of products, services, technology, service features provided by INDODAX including, but not limited to use of the Website, Indonesian Bitcoin Wallet, INDODAX OTC Platform (hereinafter referred to as “OTC INDODAX”) as long as it is not specifically regulated as stated in the INDODAX OTC Account registration section which is made on the day and date stated in the Account registration sectionotc.indodax.comconstitutes an integral and inseparable part of this SKU. By registering as an INDODAX OTC Client, you declare that you have READ, UNDERSTAND, AGREE and COMPLY with the Terms and Conditions below. You are advised to read all terms and conditions carefully before using INDODAX OTC services or any services provided, and hereby you agree and bind yourself to all activities in this SKU with the following terms and conditions: DEFINITIONS as long as the context of the sentence does not specify otherwise, terms or definitions in the SKU have the following meanings:

1. Website refers to an online site with the address otc.indodax.com. This website is managed by OTC INDODAX, but not limited to owners, investors, employees and parties related to OTC INDODAX. Depending on the context, “Website” may also refer to services, products, sites, content or other services provided by OTC INDODAX.
2. Crypto Asset is a digital commodity that uses the principle of decentralized technology based on a peer-to-peer network (interface) or called a Blockchain Network that is traded on the platform.
3. Blockchain is an open distributed ledger that can record transactions between two parties efficiently and in a permanently verifiable manner.
4. Registration is the process of registering to become a Client on the INDODAX OTC platform which is an initial verification process to obtain information, statements in the use of platform services
5. OTC Client is a person (individual), business entity, or legal entity that has registered on the INDODAX OTC platform, thus obtaining authorization from the INDODAX OTC platform to carry out OTC activities.
6. Verification is the process of examining Clients regarding information related to Clients and personal information included in the Registration process to be validated by OTC INDODAX in order to get full platform services
7. Service is a service provided by OTC INDODAX in facilitating OTC Verified Clients to carry out OTC activities.
8. OTC Activities Corporate Non Client is an OTC (Over The Counter) transaction client which is an organization in the form of a legal entity / business entity and does not have an account with Indodax.
9. OTC Activities Individual Clients are OTC (Over The Counter) transaction clients who are individuals who have/do not have an account with Indodax.
10. Phone number is the telephone number of the registered Client OTC/Verified Client so that it obtains authorization to obtain services. Phone number changes can be made by following the rules on the help page available on the Website.
11. Conversion is a change in the value of fiat currency or currency into the form or format of Crypto Assets based on the prevailing exchange rate/rate and vice versa.
12. Buyer are OTC Clients/Verified Clients who make OTC Transactions through the OTC service group chat with the transaction mechanism the buyer can purchase Crypto Assets based on the Rupiah exchange rate/rate based on price quotes from the trading team.
13. Seller is an OTC Client/Verified Client who sells Crypto Assets through the OTC service group chat with the transaction mechanism, the seller can sell Crypto Assets based on the Rupiah exchange rate/rate based on price quotes from the trading team.
14. Deposit is the process of storing Rupiah/Crypto Assets by OTC/Client Verified Clients which refers to the process of buying/selling crypto assets in OTC services, the mechanism for buying/selling crypto assets is done through the Client/Verified Client OTC service group chat.
15. Withdraw is the process of withdrawing Rupiah/Crypto Assets by OTC Clients which refers to the withdrawal process or mechanism that is carried out through the OTC service group chat.
16. Crypto Asset Prices is the exchange rate/rate of Crypto Assets in the INDODAX OTC group which is volatile, with a value according to supply and demand in the market.
17. Crypto Asset Address is the address of the Client's OTC/Verified Crypto Asset wallet address, created specifically for the Client's OTC/Verified Client and can be used multiple times as a Crypto Asset wallet provided on the platform. In terms of technical aspects, Crypto Asset addresses have a role or function to receive and send Digital Assets.
18. Crypto Asset Delivery Limit is the minimum and maximum limit for sending Crypto Assets to other Crypto Asset wallets per day. It is necessary to explain that each Crypto Exchange Platform Account will have a different sending limit and are adjusted to these Terms and Conditions with the applicable Laws and Regulations.
19. Rupiah Withdrawal Limit is the minimum and maximum limit for withdrawing Rupiah per day. With regard to the Rupiah withdrawal limit. It is necessary to explain that each OTC Client Account will have a different withdrawal limit according to the Terms and Conditions and the applicable Laws and Regulations.
20. Bank account is a bank account that has been registered by an OTC Client, both an individual and a company with the obligation to match the account holder's name and the OTC Client's name (name of the individual OTC client / company name of the OTC client).
21. Rupiah is the currency of the Unitary State of the Republic of Indonesia. Currencies traded against Crypto Assets on the platform
22. KYC (Know Your Customer) Principles is the process of assessing prospective OTC Clients, both individuals and business entities to find out the background and good faith of the actions to be carried out in a Digital Asset trading activity.
23. AML (Anti Money Laundering) is an activity to anticipate and stop money laundering practices.
24. GDPR (General Data Protection Regulation) is a form of legal instrument relating to Data Privacy that is applied to all companies in the world that have stored, processed and processed personal data of residents of the European Union. This policy has to provide protection against the confidentiality of personal or individual data. The application of this rule became effective on May 25, 2018.

CLIENT REGISTRATION/REGISTRATION PROCESS CLIENT INFORMATION AND DATA

1. Requirements to become an Individual OTC Client:
   • Clients can carry out the registration process or Client registration through the website otc.indodax.com;
   • KTP / Passport valid registered trader (authorized person) is someone who has the authority to become an OTC Client and can deal with OTC transactions in the OTC service group chat.
   • NPWP (taxpayer identification number)
   • AML (Anti Money Laundering) Documents
   • OTC transaction form (Client / Company name, wallet address, Bank Account Name, Bank Account Number. type of asset to be traded, and estimated amount of IDR to be transacted).
   • Agree to be subject to these General Terms and Conditions;
   • Be at least 17 (seventeen) years old, or have been married; and
   • Have a legal identity.
   • Not a citizen of the United States of America, Myanmar, Cote D'Ivoire, Cuba, Iran, Syrian Arab Republic, Belarus, Congo, Democratic Republic of Congo, Iraq, Liberia, Sudan, Zimbabwe and North Korea.

2. Requirements to Become a Legal Entity OTC Client
• KTP / Passport Directors and shareholders of the company (if the shareholders are individuals);
• KTP / Passport valid registered trader (authorized person); are parties from the Company (individuals) who have the right to access the OTC service group chat and conduct OTC transactions in the OTC group chat with the Trading team.
• Document upload photo selfie registered trader;        
• SIUP (Trade Business Permit) / Legal Business Permit adapted to the business entity;
• NPWP (Taxpayer Identification Number) Company;
• TDP (Certificate of Company Registration);
• AML Documents (Anti Money Laundering) company;
• Deed of Incorporation and SK (Decree) of the Minister of Law and Human Rights of the Republic of Indonesia;
• OTC transaction form (Client/Company Name, Bank Account Name, Bank Account Number, wallet address, type of asset to be traded, and estimated amount of IDR to be transacted).

3. For each registration process, prospective Clients are required to show all and any data in accordance with their identity in the form of:
   • Name (according to the attached ID);
   • Home address according to identity;
   • Current residential address;
   • Telephone or mobile number (number must be active and used personally);
   • Place and date of birth (according to the attached identification);
   • Citizenship;
   • Gender;
   • Photo of valid ID card. The identity cards that can be used are: Identity Card (KTP), Driver's License (SIM), Passport, Limited Stay Permit Card (KITAS), and Limited Stay Permit Card (KITAP);
   • Work;
   • E-mail (electronic mail address) that is active;
4. And/or everything that is requested and required in relation to the specified registration requirements, and the prospective OTC Client hereby declares and guarantees that all data/information/documents/information/statements provided regarding the registration process as an INDODAX OTC Client are complete, original, correct and in accordance with the actual situation and is the latest data/information/document/information/statement that has not been/has not been changed and is still valid/not expired and not/no changes or other conditions approved based on the policies on the registration page on Websites.
5. The Client hereby agrees that the process of becoming an INDODAX OTC Client will only be effective after all INDODAX OTC requirements are fulfilled by the Client and the registration process has gone through a verification process for OTC INDODAX approval. All risks that arise in connection with the closure/blocking/freezing of OTC services caused by errors and/or negligence of OTC/Verified Clients will be the responsibility of OTC/Verified Clients and OTC INDODAX will not provide compensation to OTC Clients/Verified Clients or any Party in any form for all claims/claims and compensation from OTC/Verified Clients clients or any Party in connection with the closure of OTC Clients OTC/Verified Clients services.
6. All data, information, information, statements, documents obtained by OTC INDODAX regarding the OTC Client/Verified Client, will become the property of OTC INDODAX and OTC INDODAX has the right to verify, match, assess, keep confidential or use it for the benefit of OTC INDODAX in accordance with legal provisions which applies without any OTC INDODAX obligation to notify OTC clients or ask for approval, Provide guarantees or compensation and for any reason to OTC Clients/Verified Clients.
7. OTC INDODAX will regulate, manage and carry out supervision according to the procedures/procedures set by INDODAX for all data, information, information, statements, documents or anything related to OTC/Verified Clients as well as business activities or transactions of OTC Clients/Verified Clients related to Client OTC/Verified Client OTC services.
8. OTC/Verified Client Client hereby gives approval and authorization to OTC INDODAX to use all data, information and information obtained by OTC INDODAX regarding Client OTC/Verified Client including but not limited to the use of OTC Client/Verified Client personal communication facilities for all other purposes to the extent permitted and permitted by applicable laws, including those aimed at marketing for OTC INDODAX or for other parties who cooperate with OTC INDODAX. For the use of data that requires the approval of another party, the OTC/Verified Client hereby declares that it has given written consent to any Third Party for the use of such data, information and information,

IDENTIFICATION AND CLIENT OTC ACCOUNT NAME/VERIFIED CLIENT

1. Every OTC service that is opened will be administered by OTC INDODAX based on a special identification according to the name of the OTC Client/Verified Client which will also act as the Account name/identity as stated on the Client's OTC/Verified Client identity. OTC/Verified Client Clients are prohibited from using OTC services other than the Client's OTC/Verified Client group chat, or accessing other Client's OTC/Verified Clients, or helping others to gain unauthorized access to indodax's OTC service group.
2. OTC/Verified Client Client agrees not to use the services provided by the Website to performillegal illegal in any form, including but not limited to, money laundering, gambling, buying goods Illegal, terrorist activities or hacking activities. Every OTC Client/Verified Client who violates these regulations can be terminated and must be responsible for the losses suffered by OTC INDODAX or other users on the Website (Exchange Platform). OTC INDODAX has the right to close OTC services and freeze funds, Crypto Assets and transactions in them if they find suspicious activity in the OTC service for an indefinite period of time.

OTC INFORMATION MEDIA CLIENT ACCOUNT OTC/VERIFIED CLIENT OTC/Verified Clients Clients can find out their Account information through the INDODAX OTC service provided and determined by INDODAX. OTC/VERIFIED CLIENT DATA CHANGES

1. Supporting Data Change
• Changes and Updates to Supporting Data must be carried out by OTC Clients/Verified Clients on data in the form of telephone numbers, e-mail addresses and other supporting data in accordance with current conditions. This is in accordance with the KYC (Know Your Customer) Principles applied by OTC INDODAX. Changes and Updates of Data are carried out by sending an e-mail with the subject of 'Data Change' to the otc group by writing down what data the OTC Client/Verified Client wants to adjust along with the reasons for the change. The change process must be accompanied by the reason for the change in the otc service group chat by including the latest data, then the otc team will provide the data to the legal team for further processing.

SCOPE OF INDODAX OTC TRADE ACTIVITIESallow OTC Clients to carry out trading activities on OTC services regarding:

1. Purchase of Crypto Assets in Rupiah.
2. Selling Crypto Assets in Rupiah.
3. Make a deposit in Rupiah currency.
4. Make withdrawals in Rupiah.
5. Trade barter between Crypto Assets against fellow users in OTC services..
6. Sending Crypto Assets to OTC Clients inside and outside the exchange, as well as Crypto Asset users outside the Website.
7. Accepts deposits in various forms of Digital Assets.

INDODAX OTC TRANSACTION PROCEDURES

• Method quote prices by means of the trading team providing quotations for buying and selling prices of certain digital assets to OTC Clients.
• If the price is approved by the OTC Client, the OTC Client makes a deposit in Rupiah currency / or in the form of digital assets. If the deposit is in rupiah, the Rupiah delivery process will be sent to the BCA bank account number in the name of PT Indodax Nasional Indonesia with account number: 335-3373371, or to Bank Mandiri account number : 1450012231995 Account Name : PT INDODAX NASIONAL.
• If an OTC Client sells a crypto asset, the crypto asset must be sent to the wallet address of the trading team of PT. Indodax National Indonesia. The wallet address notification will be informed in detail in the OTC service group.
• Then the OTC Client will send an invoice/receipt proof of the sale of crypto assets to PT. Indodax National Indonesia.
• OTC clients who make deposits in Rupiah currency must make transfers using the account according to the name registered when registering as an OTC Client for both companies and individuals (individuals).

TRANSACTION REJECTION, DELAY, AND CANCELLATION

1. OTC indodax has the right to delay and/or reject transactions if OTC INDODAX knows or, based on consideration, suspects that fraudulent activities and/or criminal acts have been and/or will be committed.
2. OTC/Verified Client Client agrees and acknowledges that to the extent permitted by applicable law, OTC INDODAX must refuse to process all transactions.
3. OTC/Verified Client Client acknowledges that OTC INDODAX is subject to the Law on financial crimes, including but not limited to, the Corruption Eradication Act and the Money Laundering Law applicable in Indonesia and internationally, all laws and regulations -laws that apply in Indonesia and internal OTC INDODAX policies. For this purpose, OTC Client/Verified Client hereby agrees to provide all information requested by OTC INDODAX in order to comply with the laws and regulations including but not limited to name, address, age, gender, personal identity information, income, occupation, assets, debts, sources of wealth, purposes of opening OTC services, investment purposes, any financial plans or other related financial information of OTC/Verified Clients. If required by OTC INDODAX, OTC Client/Verified Client also agrees to provide OTC INDODAX with updated data regarding such information.
4. OTC INDODAX is obligated to comply with laws, regulations and requests of public and government agencies in different jurisdictions relating to the prevention of financing for, among others, terrorists and sanctioned parties. This can cause OTC INDODAX to intercept and investigate all payment orders and other information or communications sent to or by OTC/Verified Clients, or on behalf of OTC/Verified Clients through the INDODAX OTC system. This process can also involve OTC INDODAX to carry out further investigations to determine whether the name that appears in all transactions made or will be carried out by the OTC/Verified Client through their Account is the name of a terrorist.
5. OTC INDODAX will not be responsible for any losses (whether direct and including but not limited to loss of profits or interest) or losses suffered by any party arising from any delay or omission from OTC INDODAX to process any such payment orders or information or other communications or to carry out any other obligations, which are caused in whole or in part by any actions taken under item 4 of this Rejection and Suspension of Transaction provisions.
6. OTC INDODAX is authorized to monitor OTC Client/Verified Client data in the context of preventing financial crimes.
7. OTC/Verified Client Client understands, understands and agrees that every transaction made through INDODAX is final and cannot be canceled by Client/Verified Client.

SUSPICIOUS TRANSACTION

1. In the event of a suspicious transaction made through the INDODAX OTC service, OTC INDODAX has the right to stop/deactivate the OTC service in the INDODAX OTC group, and Indodax will block transaction funds and delay transactions to OTC Clients/Verified Clients, until notification from OTC INDODAX.
2. In the event of a suspicious transaction and/or transaction exceeding the transaction volume limit set by OTC INDODAX for OTC/Verified Clients for any reason, OTC INDODAX has the right at any time to delay crediting funds to the OTC INDODAX Client's OTC/Verified Client Account and /or block OTC/Client Verified Client Accounts until the investigation process is completed within the timeframe determined by OTC INDODAX.
3. If it is proven that the transaction in numbers 1 & 2 above regarding suspicious transactions is a transaction that violates the SKU and/or applicable laws and regulations, then the OTC Client/Verified Client hereby authorizes OTC INDODAXto delay the refund, and must compensate INDODAX losses arising from the transaction, without prejudice to the right to claim compensation for all losses arising from the transaction and the OTC/Verified Client Client hereby agrees that OTC INDODAX is not obliged to refund the funds whose crediting is delayed by OTC INDODAX or blocked funds as referred to in number 2 of the provisions regarding this suspicious transaction..

WITHDRAWAL LIMIT

1. OTC/Verified Clients Clients hereby agree to comply with withdrawal limits for both Crypto and Rupiah assets that apply to OTC/Verified Clients, and OTC INDODAX which in this case applies the Anti Money Laundering (AML) principle in accordance with the regulations of the Government of the Republic of Indonesia. power and right not to process transactions that have exceeded the daily withdrawal limit, which is the amount determined by OTC INDODAX.

SERVICE COOPERATION

1. OTC INDODAX does not cooperate in any way with Arisan Berantai, cloud mining, MLM, Ponzi Scheme, Money Game and HYIP companies that offer profits from trading or using Digital Assets, including but not limited to Biclubnetwork, BTCPanda, MMM Global, MMM Indonesia , Onecoin, Binary, BITCOINTRUST2U, BTCPANDA, BITKINGDOM, BITCLUBNETWORK, MMM GLOBAL, MMM Indonesia, EUROBIT, ILGAMOS, FUTURENET, E-DINAR and is not responsible for the use of the above services by OTC/Verified Clients;
2. Companies that are not registered in the OTC Indodax service can be interpreted as not or have not cooperated with OTC INDODAX. OTC INDODAX does not recommend any company, including companies that cooperate with OTC INDODAX. All decisions to use the service are the responsibility of each User.
3. OTC INDODAX hereby explains that it has no official affiliation with the partners mentioned in paragraph (1) above. All transactions that occur between OTC Clients/Verified Clients and the above companies are not the responsibility of OTC INDODAX.
4. OTC Indodax will provide crypto assets and send to the OTC Client's crypto asset wallet address as stated in the form that has been completed by the OTC Client.
5. OTC Indodax will accept crypto assets if they are available for exchange into rupiah.
6. OTC Indodax will provide crypto assets when available and a price agreement has been reached and then send it to the OTC Client's crypto asset wallet address as stated in the form that has been completed by the OTC Client. transactions to OTC Clients.
7. After the price has been agreed, the OTC Client who wants to buy the crypto asset will pay Indodax with payment in Rupiah after that the crypto asset is sent by Indodax to the OTC Client's wallet address as stated in the form that has been completed by the OTC Client. On the other hand, in the case of an OTC client selling a crypto asset, the OTC Client will send the crypto asset to the wallet address of the INDODAX trading team, then after it has been successfully sent. The INDODAX Finance Team will send IDR an amount with the agreed crypto assets.
8. Henceforth, OTC Client will pay for the transaction as described in these Terms and Conditions.

COMPLAINTS HANDLING STANDARDS

Client's OTC/Verified Client Complaints here are related to data breach notifications and/or in case of problems regarding the ownership of Crypto Assets owned by OTC Clients/Verified Clients. In the event of such problems, the following mechanisms must be carried out by OTC/Client Verified Clients, including:

1. With regard to OTC Client/Verified Client complaints, OTC Client/Verified Clients have the right to notify OTC INDODAX under the following conditions:
   1. If the Client's OTC/Verified Client receives spam, all forms of wild advertisements and/or electronic mail in the name other than OTC INDODAX requesting personal data and/or disturbing the convenience of OTC Clients//Verified Clients;
   2. If there is a practice of theft and fraud of Crypto Assets which results in the loss of Crypto Assets in the Client's OTC/Verified Client Account; If there is a criminal practice of theft and fraud of Crypto Assets/Fiat Money (IDR) which results in the loss of Crypto Assets/Fiat Money (IDR) belonging to OTC Clients.
   3. If there are allegations of OTC/Client Verified Client data breach activities by other parties that are not described in points 1 and 2 above.
   4. If there is an allegation of underpayment or overpayment of the total IDR/Crypto Client OTC/Client Verified, it will be resolved by sending proof of transfer/transfer slip and transaction flow news and explanations in the OTC group.
2. With regard to the practice of misuse of OTC/Client Verified Client data by other parties which results in spam or skimming practices, the OTC/Verified Client Client is requested to file a complaint with the following mechanism:
   1. As required in point 2, OTC Client//Verified Client can make a complaint by filling out the complaint form that we have provided and can send it to email [email protected] ;
   2. We will immediately follow up on the report by handling complaints within 3 x 24 hours;

3.  With regard to the loss of Crypto Assets/fiat money (IDR) due to fraud     on behalf of OTC Indodax, as a result of the practice of criminal acts of crime      electronically by another party, then OTC/Verified Clients Clients can make complaints by:           mechanism as follows:

1. As required in point 2, OTC/Verified Clients can make complaints by filling out the complaint form that has been provided.;
2. The report will carry out initial handling where the Account will be frozen by the reported party (suspected party) who accommodates or takes the Client's OTC/Verified Crypto Assets;
3. The report will carry out initial handling where the Account will be frozen by the reported party (suspected party) who accommodates or takes the Client's OTC/Verified Crypto Assets (in this case if the suspected party has a crypto account on the Indodax OTC Platform).
4. If this clarification stage is successful where the reported party provides a response, mediation will be carried out with the reporting party (in this case the reporting OTC Client/Verified Client);
5. If the mediation is not successful, it will be continued through a report to the local police and we will prepare the requested data.

REPRESENTATIONS AND WARRANTIES

1. All services on the Website do not provide any guarantees or guarantees and OTC INDODAX does not guarantee that the Website will always be accessible at all times.
2. OTC/Verified Client Client declares and guarantees that he will use INDODAX's OTC services properly and responsibly and not take actions that are contrary to the laws, laws and regulations that apply in the territory of the Republic of Indonesia.
3. OTC/Verified Client The Client declares and guarantees that he will not use INDODAX OTC services in the sale of goods and/services related to:
   1. Narcotics, materials and/or chemical substances for research) Money and anything similar to money, including derivatives) Goods and/or services that violate Intellectual Property Rights) Ammunition, firearms, explosives, sharp weapons in accordance with applicable legal provisions) Goods and/or services that show personal information from Third Parties that violate the law;
   2. Support for Ponzi schemes and similar programs;
   3. Goods and/or services related to lottery purchases, lay-aways;
   4. Services related to banking outside the territory of the Republic of Indonesia;
   5. Credit card payment
   6. Credit settlement; and/or
   7. Support for banned and/or government-prohibited organizations.
4. OTC/Verified Client Client represents and guarantees not to use the service for acts involved in gambling practices and/or other activities that charge entry fees and promise prizes, including but not limited to casino games, gambling in sports, businesses that facilitate gambling and other ways lottery.
5. OTC/Verified Client Clients represent and guarantee that all data, information and documents provided by OTC Clients/Verified Clients to OTC INDODAX are real, legal, honest, transparent, complete and accurate data, information and documents. OTC/Verified Client The Client states that he is willing to be criminally prosecuted if OTC INDODAX knows or obtains information from any party that the data, information and documents provided by the OTC/Verified Client are not true/not completely true/false. Client is willing to update data/information (profile update) if at any time requested by OTC INDODAX and then all documents that have been provided become the property of OTC INDODAX.
6. OTC INDODAX has provided sufficient information and explanation regarding OTC INDODAX services that will be used by OTC/Verified Clients in accordance with the provisions of the SKU and OTC/Verified Clients. Clients have understood and understood and are willing to bear all consequences that may arise in connection with the use of INDODAX OTC services. including the benefits, risks and costs inherent in OTC services.
7. OTC/Verified Client Client hereby agrees and authorizes OTC INDODAX to use all data, information and information obtained by OTC INDODAX regarding OTC Client/Verified Client including but not limited to the use of OTC Client/Verified Client personal communication facilities for all other purposes to the extent permitted and permitted by applicable laws, including those aimed at marketing OTC INDODAX products or other parties, in collaboration with OTC INDODAX. For the use of data that requires the approval of another party, the OTC/Verified Client hereby declares that it has obtained written approval from any third party for the use of such data, information and information,
8. OTCVerified Client Client declares and guarantees that transactions carried out using INDODAX's OTC services are transactions that do not violate the provisions of the applicable laws and regulations and the provisions regarding the acceptance of transaction execution as stipulated in the SKU. In the event that OTC INDODAX finds indications of the execution of transactions that are not in accordance with the provisions of the applicable laws and regulations and or the provisions regarding the acceptance of the execution of transactions regulated in the SKU, then OTC INDODAX has the full right to close OTC services by disabling OTC INDODAX services on OTC/OTC Clients. Verified Clients, and OTC Clients/Verified Clients hereby agree that OTC INDODAX hereby will not provide compensation and or liability in any form to OTC Clients/Verified Clients,
9. OTC/Verified Clients Clients represent and guarantee that the risk of using Third Party services, products and promotions with OTC/Verified Clients (if any), is borne by OTC Clients/Verified Clients, and OTC Clients/Verified Clients state that OTC INDODAX is not responsible responsible for the services and performance of Third Party services.
10. OTC/Verified Clients Clients hereby are fully responsible and agree that INDODAX will not provide compensation and or liability in any form to OTC Clients/Verified Clients or any party for any losses and or claims and or demands that arise or may be experienced by OTC INDODAX as a result of the negligence or failure of the Client/Verified Client in carrying out transactions.
11. OTC Client/Verified Client hereby provides assurance to OTC INDODAX that the Client's OTC/Verified Client along with all of its employees and or other parties working with Client's OTC/Verified Client will not reproduce and or create, rent, sell, transfer, transfer, and or transfer INDODAX OTC services either partially or completely to other parties for any reason, including but not limited to abuse of otc.indodax.com services to conduct transactions other than those specified in the SKU for any purpose, including but not limited to crime/fraud/cheating. If the OTC Client/Verified Client violates these provisions, the OTC Client/Verified Client must be responsible for all losses,
12. As a form of our commitment and compliance with GDPR, together with these General Terms and Conditions (SKU) INDODAX guarantees that:
    1. OTC INDODAX continues to be committed and guarantees the personal data of our OTC/Verified Clients and will take strict action if other parties have used our OTC/Verified Clients' information data;
    2. OTC INDODAX always applies protocols and mechanisms in the form of requests for permission and approval or notifications to OTC Clients/Verified Clients for all forms of data processing at OTC in making deposits, withdrawals and/or updating data.

 

 

 

RESPONSIBILITY

1. OTC/Verified Client Client agrees to bear any risks, losses or consequences suffered by Client OTC/Verified Client caused by, among others:
2. damage, delay, loss or error in sending orders and communications, electronically caused by OTC/Verified Clients;
3. Notification of the use of INDODAX OTC services sent to OTC Clients/Verified Clients is received or read or misused by parties who are not authorized to INDODAX OTC Accounts,
4. OTC/Verified Clients Clients understand and agree that OTC/Verified Clients Clients will use INDODAX OTC Accounts and services for transactions that do not conflict with the provisions of laws and regulations and/or applicable INDODAX OTC internal policies and/or other applicable regulations nationally and internationally related to the implementation of the transaction, either directly or indirectly,and OTC INDODAX will not provide compensation and/or liability in any form to the OTC/Verified Client or any other party for any claims and/or demands and/or losses arising in connection with the use of OTC INDODAX services by OTC/Verified Clients for transactions that are categorized as suspicious transactions and/or transactions that are prohibited by the provisions of the applicable laws and regulations and/or INDODAX internal OTC policies and/or other regulations that apply both nationally and internationally related to the transaction activities carried out by OTC/Client Verified Clients directly or indirectly.
5. In conducting transactions using INDODAX OTC services, OTC Clients understand and agree that there are certain sanctions imposed by the government, including the government of other countries, and/or other authorized agencies against several countries, entities and individuals. Referring to this, INDODAX has the right not to carry out/process transactions that constitute a violation of the sanctions provisions, and the competent authority may require the disclosure of related information. INDODAX is not responsible if OTC INDODAX or other parties fail or delay the execution of transactions, or disclosure of information as a result of direct or indirect violations of the provisions of these sanctions.

RISK

1. Crypto Asset Trading is a high risk activity. Crypto Asset Prices are volatile, where prices can change significantly from time to time. Due to price fluctuations, the value of Crypto Assets may increase or decrease significantly at any time. All Crypto Assets or not, have the potential to experience drastic changes in value or even become meaningless. There is a high risk of loss as a result of buying, selling or trading anything in the market and INDODAX is not responsible for the fluctuations in the Digital Asset exchange rate.
2. Trading Digital Assets also carries additional risks that are not experienced by Crypto Assets or other commodities in the market. Unlike most currencies that are guaranteed by the government or other legal institutions, or by gold and silver, a digital asset is a unique Crypto Asset and is guaranteed by technology and trust. No central bank can control, hedge the value of Crypto Assets in a crisis, or print the currency.
3. OTC/Verified Clients Clients are encouraged to be careful in measuring financial situation and ensure that OTC/Verified Clients Clients are willing to face the risks involved in selling, buying or trading Digital Assets. OTC/Verified Clients Clients are strongly advised to do personal research before making a decision to trade Digital Assets. All Crypto Asset trading decisions are independent decisions by users knowingly without coercion and releasing INDODAX for Digital Asset trading activities.
4. OTC INDODAX does not guarantee the long-term viability of Crypto Assets that are traded or exchanged in the marketplace.
5. With regard to Crypto Asset mining activities, it is necessary to clarify and emphasize that OTC INDODAX does not mine, produce or print Digital Assets. Crypto assets are created and mined using special software by miners who are randomly distributed around the world and are interconnected by peer-to-peer technology on the blockchain network.

DISALLOWANCE

Without reducing the intent of the provisions regarding the restrictions contained in the SKU, the OTC Client/Verified Client is prohibited from doing the following:

1. OTC/Verified Clients Clients are not allowed to take actions that can result in losses for INDODAX and or that are contrary to the SKU and the applicable laws and regulations.
2. If the Client's OTC/Verified Client violates one or more of the provisions in this provision, the Client's OTC/Verified Client will be fully responsible and hereby agrees that for such violation OTC INDODAX has the right to limit the features of using INDODAX's OTC services and OTC Client/Verified Clients acknowledge and agree that INDODAX will not provide compensation and or liability in any form to OTC/Verified Clients or any other party for any risks or consequences arising from restrictions on the use of these services. OTC/Verified Clients Clients are further obligated to pay compensation to INDODAX in the amount of losses that OTC INDODAX may suffer for such violations. OTC/Verified Client Client hereby authorizes OTC INDODAX to make the compensation payment. In this case, if the Client's OTC/Verified Client does not have available/or insufficient funds, then the Client is required to return all the funds in cash to OTC INDODAX within 7 (seven) working days after INDODAX submits the said claim.

 

 

 

CONFIDENTIALITY

During collaboration with OTC INDODAX and at any time thereafter, then:

1. Any information and or data provided by INDODAX to OTC Clients/Verified Clients and or data obtained by OTC Clients/Verified Clients as the implementation of SKUs either given or delivered orally, in writing, graphically or delivered via electronic media or information and or data in any other form during the course of the conversation or during other work is confidential (hereinafter referred to as “Confidential Information”).
2. OTC/Verified Client agrees that at all times he will keep confidential information obtained as a result of cooperation with anyone or will not use it for the benefit of the OTC/Verified Client Client or the interests of other parties, without first obtaining written approval from the authorized official from OTC INDODAX or other authorized parties in accordance with applicable legal provisions.
3. If the OTC Client/Verified Client violates the provisions referred to in numbers 1 and 2 of the provisions regarding this confidentiality, then all losses, demands and or claims experienced by INDODAX are the full responsibility of the OTC Client/Verified Client, and at the first request from INDODAX, the OTC Client /Verified Clients are obliged to solve them in accordance with the provisions of applicable laws and regulations and provide compensation that may arise as a result of the violation to OTC INDODAX. OTC/Verified Clients Clients hereby agree that INDODAX will not provide compensation and or liability in any form to OTC/Verified Clients Clients or any party for any claims and or lawsuits that may arise in the future in connection with such violations.
4. The obligation to keep confidential information as referred to in points 1 and 2 provisions regarding confidentiality becomes invalid, if:
5. Such confidential information becomes available to the general public.
6. Such confidential information is ordered to be disclosed in compliance with an order by a court or other competent government agency.
7. Such confidential information is provided in accordance with applicable legal provisions.
8. OTC/Verified Client The Client further agrees to make every effort and take every necessary action to prevent third parties from gaining access to or resulting in the disclosure of confidential information.
9. In the event that the collaboration has ended, the OTC Client/Verified Client agrees that the obligation to keep documents and materials that constitute confidential information as regulated in this provision will remain in effect.

NEGLIGENCE

1. OTC/Verified Client Client agrees that what is meant by Default (Default) is the following matters or events:
   1. Negligence (Default).
   2. If the OTC/Verified Client is negligent in carrying out an obligation or violates a provision in the SKU.
   3. Statement Not True.
   4. When it turns out that a statement or guarantee provided by an OTC Client/Verified Client in the SKU – is not true or does not match the reality.
   5. In the event of a deal (agreed price) when the quote has been given and the deal has been confirmed agreed (done) in the OTC group chat, but within 30 minutes – 1 hour the deposit/crypto asset is not sent without notification and the OTC Client does not provide any information then cooperation This OTC is declared void and further mediation will be conducted to the Client's OTC/verified Client.
2. In the event of an incident of negligence based on number 1 of this negligence provision by an OTC/Verified Client, OTC INDODAX can choose whether to continue or close the OTC/Verified Client Account. If OTC INDODAX wishes to close the OTC Client/Verified Client service, then the intention must be notified to the OTC Client/Verified Client within a reasonable time according to OTC INDODAX.
3. In the event of an incident of negligence by an OTC Client/Verified Client as intended, INDODAX has the right to immediately deactivate OTC Client OTC/Verified Client services on INDODAX OTC without having to give advance notice to OTC Clients/Verified Clients, and OTC Clients/Verified Clients hereby agree that OTC INDODAX will not provide compensation and or liability in any form to the OTC/Verified Client Client or any party for any claims and or lawsuits and or claims and or requests for compensation from any party that may arise in connection with negligence the.

INTELLECTUAL PROPERTY RIGHTS

1. OTC Indodax is the owner and/or legal holder of licenses or other rights in terms of Intellectual Property of OTC Indodax features such as buying & selling of cryptocurrencies.
2. All information provided by OTC Indodax will become and remain the property of OTC Indodax.

BLOCKING AND FREEZING OF CLIENT OTC SERVICE/VERIFIED CLIENT 

In order to implement the precautionary principle, OTC INDODAX has the right and OTC Client/Verified Client hereby authorizes OTC INDODAX to block either part or all of the OTC Client/Verified Client balance (hold amount) and/or debit it and terminate OTC Indodax service. , if the following occurs:

1. There is a request from the bank due to an error in sending funds and the bank asks for blocking;
2. OTC INDODAX considerations if there is an error in receiving transactions and also when the process of deposit transfer funds (IDR) account number does not match the name of the company/in this case the personal name of the individual who registers as an OTC Client.
3. OTC INDODAX is used as a shelter that indicates the proceeds of crime including but not limited to criminal acts of corruption, bribery, narcotics, psychotropic substances, labor smuggling, people smuggling, banking, capital market, insurance, customs, excise, human trafficking, trade illicit weapons, terrorism, kidnapping, theft, embezzlement, fraud, counterfeiting, gambling, prostitution, taxation, and terrorism;
4. OTC/Verified Clients Clients are considered negligent in carrying out obligations based on SKUs;
5. OTC INDODAX policy or by a government decree or authorized agency or applicable regulations, so that OTC INDODAX is required to block and or freeze the INDODAX OTC Account.
1. In the event of an OTC service termination, the OTC Client/Verified Client agrees and states that he is willing to remain bound by the SKU to stop using the INDODAX OTC service, Gives INDODAX the right to delete all information and data in the INDODAX OTC server, and declares OTC INDODAX is not responsible to the Client OTC/Verified Client or Third Party for termination of access and deletion of information and data in Client's OTC/Verified Client Account.

TAX

That the tax on Crypto Asset trading activities is a tax borne by each activity actor, in this case the OTC Client/Verified Client and OTC INDODAX. OTC/Verified Client Clients can consult tax payments with Personal Tax Consultants, and Indodax does not bear OTC Client/Verified Client taxes unless otherwise specified in these Terms and Conditions.

 

 

SECURITY

OTC INDODAX has implemented network and security measures as an information security network against unauthorized access in the use, change and/or disclosure of Accounts, with security standards that are in accordance with the provisions of the applicable laws and regulations. The entry of the party responsible for access to the use, change and/or disclosure of Accounts from third parties due to negligence and/or errors of the OTC/Verified Clients results in the risk being borne by the OTC/Verified Clients, then OTC INDODAX will not provide compensation and or liability in any form to the OTC Client/Verified Client or any other party for all risks,

 

FORCE MAJEURE

1. What is meant by Force Majeure are events that occur beyond the ability and power of OTC INDODAX so that it affects the implementation of transactions, including but not limited to:
   1. Earthquakes, hurricanes, floods, landslides, volcanic eruptions and other natural disasters;
   2. War, demonstrations, riots, terrorism, sabotage, embargoes, and mass strikes;
   3. Economic policies from the Government that directly influence;
2. As long as OTC INDODAX has carried out all of its obligations in accordance with the applicable laws and regulations in connection with the occurrence of the Force Majeure, OTC INDODAX will not provide compensation and or liability in any form to the OTC Client/Verified Client or any other party for any risks, any liability and claim that may arise in connection with the delay or non-performance of obligations due to Force Majeure.

DISCLAIMER OF WARRANTIES AND LIMITATIONS OF LIABILITY

OTC INDODAX always strives to keep the Services safe, convenient and functioning well, but we cannot guarantee continuous operation or that access to our Services is always perfect. It is possible that the information and data on the INDODAX OTC site is not available in real time.

I. OTC INDODAX does not guarantee that the results obtained from the use of the service will be accurate or reliable.

II. OTC/ Verified Client Client agrees that OTC Client/ Verified Client uses INDODAX OTC Service at Client's own OTC/ Verified risk, and that INDODAX OTC Service is provided to OTC Client/ Verified Client on an “AS IS” and “AS AVAILABLE” basis.

III. To the extent permitted by applicable law, OTC INDODAX (including the Parent Company, directors and employees) shall not be liable, and Verified Members/Members agree not to hold OTC INDODAX liable, for any damage or loss (including but not limited to loss of money, reputation , gain or other intangible loss) which is directly or indirectly caused by the following:

• The inability of OTC/ Verified Clients to use INDODAX OTC services is a personal risk.
• Loss of Use, Loss of Profits, Loss of Revenue, Loss of Data, Loss of Goodwill, or Failure to realize the expected savings, in any case directly or indirectly.
• Any indirect, incidental, special or consequential damages, arising out of or in connection with the use of or inability to use the OTC INDODAX website or services including, but not limited to, losses caused thereto, even if OTC INDODAX has been advised of such possibility loss.
• Any losses caused by negligence of OTC/Client Verified Clients including but not limited to failure to login via third party devices and/or failure to maintain the confidentiality of the device used for login.
• Condition and quality of tradable crypto products or assets.
• Infringement of Intellectual Property Rights.
• Disputes between Members / Verified Members.
• Defamation of other parties.
• Any misuse of Assets purchased by OTC/Client Verified Clients.
• Losses due to unauthorized payments to parties other than the INDODAX Official Account which in any way uses the INDODAX name or negligence in writing the account and/or other information and/or negligence on the part of the bank.
• Suitability for a particular purpose, durability, possession and non-infringement.
• Viruses or other malware (bots, scripts, automation tools) obtained by accessing or connecting to INDODAX services.
• Skimming or hacking process, which causes losses to OTC Clients/ Verified Clients on INDODAX OTC Services.
• Crashes, bugs, errors, or inaccuracies in INDODAX OTC Services.
• Damage to your hardware from using any INDODAX OTC Services.
• Enforcement actions taken with respect to Client OTC/ Verified Client accounts.
• Any hacking done by a third party on the Client's OTC/Verified Client account.

IV. OTC/ Verified Client The Client acknowledges and agrees that the only right of the OTC/ Verified Client Client with respect to service problems or dissatisfaction is to stop using the service.

NOTICE

1. OTC/Verified Client The Client agrees to communicate with OTC INDODAX in electronic format, and agrees that all terms, conditions, agreements, notices, disclosures or any other forms of communication provided by OTC INDODAX to OTC/Verified Clients electronically are considered as written .
2. Client OTC/Verified Client agrees to receive email from the Website. E-mails sent may contain information about accounts, transactions, systems, promotions and so on.

 

DISPUTE RESOLUTION

Any dispute, dispute or difference of opinion (hereinafter referred to as "Disputes") arising in connection with the implementation of the cooperation will be resolved in the following manner:

1. That every Dispute, to the extent possible, will be resolved by way of deliberation to reach consensus.
2. Any Disputes that cannot be resolved amicably will be resolved through the West Jakarta District Court.

LEGAL DOMICILE

SKUs are created, interpreted and enforced based on the laws of the Republic of Indonesia. Indodax.com and the Client OTC/Verified Client have agreed to choose a common and unchanged legal residence at the South District Court Registrar's Office.

 

ETC

1. This SKU is subject to and enforced based on Law No. 8 of 2010 concerning the Crime of Money Laundering and the Regulation of the Head of PPATKPER-09/1.02.2/PPATK/09/12,No. PER-12/1.02/PPATK/06/13,No. PER-12/1.02.1/PPATK/09/11andNo. PER-02/1.02/PPATK/02/2014. Therefore, all transactions with a nominal value above IDR 100,000,000 (one hundred million rupiah) are required to report the transaction to the PPATK.
2. For matters that have not been regulated in the SKU, all provisions in the Civil Code as well as the provisions of other relevant laws and regulations will apply.
3. If OTC INDODAX makes changes to the contents of this SKU, then OTC INDODAX will notify the Client of the change to the OTC Client/Verified Client in accordance with the applicable laws and regulations through notification media that OTC INDODAX deems good and subsequently OTC Client/Verified Client will be subject to changes in the SKU the. Changes to each attachment of the SKU will be agreed upon and henceforth shall be an integral part of and an integral part of the SKU.
4. If the OTC/Verified Client performs actions outside of the SKU provisions, the OTC/Verified Client Client will be fully responsible and hereby agrees that INDODAX will not provide compensation and or liability in any form to the OTC Client/Verified Client, or any party for all claims and or claims and or claims submitted by other parties in connection with actions taken by the OTC/Verified Client
5. OTC/Verified Clients Clients are required to comply with all requirements stated in the SKU. The OTC Client/Verified Client's negligence in complying with or carrying out the contents of the SKU on one or more occasions, will not eliminate the OTC Client/Verified Client's obligation to continue to fulfill all the requirements contained in the SKU.
6. Questions regarding the Terms and Conditions or other matters, are made via[email protected]

 

 

TRADING RISK

All information related to Privacy and Security submitted must also have the awareness of the Indodax Account Owner / OTC Client so that it can be applied effectively. There are several things that require an active role from the Indodax OTC Client as the account owner. Here we need to convey tips to protect your Indodax OTC Client Account.

Causes Your Account Can Be Hacked

There are various possible reasons why your account may be used by someone else:

1. Access and login on a phishing website that resembles the official website otc.indodax.com
2. Store e-mail data and passwords in cloud applications/online drives.
3. There is malware that has infected your device. Example: Keylogger, Virus.
    
    

Indication of Your OTC Service In Unsafe Condition

There are several indicators when your account is being hacked:

1. There is chat or telephone activity on behalf of indodax and is not included in the official OTC indodax chat group.
2. OTC transactions using different accounts are not allowed when registering as an OTC Client of Indodax. The account used is only an account in the name of PT Indodax Nasional Indonesia.

What To Do If You Know Your Account Has Been Hacked

1. Immediately contact the OTC team via email at the address [email protected] with      include a chronology of events.

 

How to Keep Your OTC Safe

1. Make sure you register otc through the otc.indodax.com website (not from the phishing website page)
2. Make sure all e-mails related to Indodax accounts are only from the “ [email protected] ” domain and not others.
3. Make sure all OTC transactions in the deposit process are transferred to an account only in the name of PT Indodax Nasional Indonesia.
4. Bookmarks otc.indodax.com on the browser to anticipate access to phishing sites.

 

GENERAL TERMS AND CONDITIONS AND TRADE RISK THIS OTC CLIENT/VERIFIED INDODAX.COM CLIENT HAS BEEN ADJUSTED WITH THE APPLICABLE LEGISLATION PROVISIONS