✅Terms and Conditions
Customer agreement
Terms and Conditions
These TERMS AND CONDITIONS OF VIRTUAL ASSET SERVICE (hereinafter referred to as “Terms of Service”) define the conditions and requirements for providing virtual assets services (as defined in the Terms of Service) to the Customer through idax Exchange (hereinafter referred to as “Virtual Asset Service Provider” ) by www.idax.exchange website or mobile application (hereinafter collectively referred to as “Platform”).
Please read the Terms of Service carefully, as they describe the terms and conditions of use of the Platform and the Services that apply.
CLARIFICATION:
These Terms of Service do not cover all matters relating to virtual assets.
These Terms of Service only govern the relationship between the Virtual Asset Service Provider and the Customer.
Virtual Assets and related communications and the rights granted to Customer under these Terms of Service may be limited by the applicable laws of Mongolia and the Customer's country of residence (as defined below).
The Terms of Service will create a binding and legal contractual relationship between the Virtual Asset Service Provider and the Customer.
These Terms of Service will not be subject to Customer who refused the terms and conditions or press the “Accept” button below.
These Terms of Service may be updated or changed depending on the relevant laws of Mongolia, international agreements, or decisions of related parties.
The Virtual Asset Service Provider may expand its services, add new services, and update the relevant terms of service during the time the Customer receives the service.
Any changes to the Terms of Service will be effective from the time they are uploaded on the Platform.
If the Customer continues to receive the Service even after the Terms of Service have been updated, the Customer shall be deemed to have accepted the Terms of Service.
1. DEFINITIONS
The following terms used in these Terms of Service shall have the following meanings. It includes:
“Virtual asset” means a non-material asset with a digital expression of the value that can be digitally transferred, traded, or used for investment purposes other than the digital form of official currency and securities of any country, or electronic money authorized by the Bank of Mongolia;
“Virtual asset trading” means the transaction of the exchange between virtual assets and fiat currencies, the exchange between one or more forms of virtual assets, transfer of virtual assets;
“Customer” means a person receiving services from a Virtual Asset Service Provider who clicks the “Accept” button below or accepts these Terms of Service;
“Customer's address” means the customer’s address (Account) used to access the Platform;
“Platform” is a website, mobile application, and software system based on Blockchain technology provided by the Virtual Asset Service Provider and offered to the Customer;
“Virtual asset account” means a digital account with a unique UID number that is created and managed by the Customer on the Platform and contains fiat, virtual asset balances, and transaction information;
“Fiat” means the official currency of any country;
“Service Fee” means the fees, commissions, and fees charged by the Company for the provision of virtual asset services as specified in the Terms of Service and the Service Fee Terms and Conditions approved by the Company;
“Politically exposed person” means the President of Mongolia, a member of the State Great Khural, the Prime Minister of Mongolia, a member of the Government, a member of the Constitutional Court, the Chief judge of the State Supreme Court, a judge of the Supreme Court of the State, the State Prosecutor General, and the State Great Khural Heads of directly reporting organizations, governors of provinces and capitals, heads of representatives of provinces and capitals, state secretaries of ministries, heads of government agencies, heads, and directors of state-owned companies, foreign heads of state, heads of governments, political and high-ranking officials of the government, judiciary, military and army, senior officials of state-owned enterprises, persons in the leadership of political parties, members of the board of directors of international organizations, persons who have held or are holding the positions of directors, directors, and deputy directors, or a person related to them;
“Customer with high-risk” means a politically exposed person, a state person declared by an international organization responsible for combating AML/CFT as having an inadequate control system for combating AML/CFT, a legal entity, or the person or legal entity conducting the operation in the high-risk industry with assessment for combating AML/CFT.
“Know your Customer” is the due diligence specified in the policies and programs implemented by the VASP following the activities of combating Money Laundering and Terrorist Financing before providing services to individuals and legal entities;
“Privacy Policy” means a document approved by VASP to regulate relations related to the collection, processing, and use of Customer information by relevant laws and international regulations of Mongolia;
2. GENERAL REQUIREMENTS FOR CUSTOMER
2.1. Legal requirements
As of the date of acceptance of these Terms of Service, the Customer is an adult citizen of Mongolia who is 18 years of age and eligible to acquire rights and obligations according to the relevant laws of Mongolia.
The Customer's actions shall not violate the AML/CFT regulations, the Law on Corruption, or other relevant laws.
Clarification: The Virtual Asset Service Provider will determine the eligibility of the customer based on the appropriate documentation submitted by the customer. If the customer is a citizen of a country other than Mongolia, the Virtual Asset Service Provider is not responsible for checking whether the customer has eligibility according to the laws of his/her country.
2.2. Technology requirements
The Customer shall use a fully capable device and a fully secured Internet connection to use the Virtual Asset Service Provider’s platform.
Disclaimer: The Virtual Asset Service Provider is not responsible for verifying the Customer's technology for compliance or Internet security.
2.3. Technological knowledge requirements
The use of the Virtual Asset Service Provider's platform requires appropriate technical knowledge, so the Customer will need to acquire the necessary technical knowledge.
2.4. Requirements from Virtual Asset Service Providers
The Customer shall not have any accounts previously suspended or terminated by the Virtual Asset Service Provider, and must not have any current accounts or wallets.
3. VIRTUAL ASSET SERVICE
The Virtual Asset Service Provider will provide the following services through the Platform: It includes:
(1) trade between virtual assets and fiat;
(2) trade between single and multiple virtual assets;
(3) transaction of virtual assets;
(4) store and manage virtual assets and related tools;
(5) organizing activities related to initial offering and selling virtual assets, participating in financial activities, and providing services.
4. REPRESENTATIONS AND WARRANTIES
The Customer makes the following representations and warranties, and the Virtual Asset Service Provider provides services based on these representations and warranties to the Customer. It includes:
(1) The Customer has acknowledged the Virtual Asset Service Provider’s profile and website on social networks;
(2) The Customer has fully read and acknowledged these Terms of Service;
(3) The Customer fully understands the legal and other consequences of clicking the “Accept” button below;
(4) By clicking the “Accept” button below, the Customer agrees that he/she has fully accepted these Terms of Service;
(5) The Customer has not obtained this Virtual Asset Service in propose of pretense;
(6) The Customer has not participated in any transaction or concealed or disguised the source of unknown or illegal funds while using this virtual asset service;
(7) The Customer declares that no illegal intention was expressed;
(8) The Customer is eligible to use this virtual asset service;
(9) The Customer is not having mental illness, or cannot control himself properly;
(10) The Customer has obtained the necessary approvals from the appropriate person or does not need to obtain any approvals;
(11) The Customer fully understands that virtual asset transactions are irrevocable and fraudulent, or that losses or damages resulting from your erroneous transactions are not recoverable;
(12) The Customer acknowledges that Virtual Asset Service Providers will receive Fees;
(13) The Customer does not violate the Law on AML/CFT, international agreements, and conventions related to AML/CFT;
(14) The Customer does not commit any crime specified in the special class of the Criminal Code of Mongolia or any crime specified in the relevant law of his/her country of residence;
(15) The Customer does not violate the relevant laws of Mongolia and international agreements and conventions related to this virtual asset service or the laws of his/her place of residence;
(16) The Customer using service from a country other than Mongolia has received permission from the relevant authorities of that country;
(17) The Customer acknowledges that the risks mentioned in the “Risks” section specified in Article 10 of the Terms of Service may arise at any time;
(18) The Customer acknowledges that he/she has no right to require the Virtual Asset Service Provider to compensate him/herself for damages caused by his/her illegal actions or violations;
(19) The Customer agrees that the Virtual Asset Provider does not guarantee any Virtual Assets available on the Platform;
(20) The Customer acknowledges that the Virtual Asset Provider is not obliged to provide trading, tax, or legal advice;
(21) The Customer agrees that the transaction of virtual assets is considered to have been completed in the period registered in the registration system, regardless of the period of the transaction;
(22) The Customer agrees to pay the relevant Fees in case of receiving the relevant services and making transactions;
(23) The Customer acknowledges the risk that the service and value of virtual assets may change depending on international and domestic regulations regarding virtual assets;
(24) By accepting these Terms of Service and clicking the “Accept” button below, the Customer acknowledges and confirms that he/she is participating in an appropriate legal relationship with the Virtual Asset Service Provider.
4.2. Virtual Asset Service Provider Representation and Warranties
The Virtual Asset Service Provider represents and warrants the following, and that the Customer is receiving the appropriate service requested from the Virtual Asset Service Provider based on this representation and warranty of the Virtual Asset Service Provider. It includes:
(1) The Virtual Asset Service Provider is a limited liability company established under the laws of Mongolia and operating under the relevant laws of Mongolia;
(2) The Virtual Asset Service Provider is authorized by the Financial Regulatory Commission under the laws of Mongolia ;
(3) The Virtual Asset Service Provider provides services to the Customer that are not prohibited by the relevant laws of Mongolia;
(4) The Virtual Asset Service Provider uses technology that is not prohibited by the relevant authorities of Mongolia and is commonly used internationally;
(5) The Virtual Asset Service Provider has a system and control system to implement the appropriate requirements stipulated under the laws of Mongolia;
(6) The Virtual Asset Service Provider complies with the laws, regulations, and decisions of the competent authorities of Mongolia ;
(7) The Virtual Asset Service Provider represents and warrants that the Virtual Asset Service Provider will protect the Customer's interests by applicable laws and regulations.
5. CUSTOMER REGISTRATION, ACCOUNT
5.1. Customer registration
Based on the acceptance of these Terms of Service and Privacy Policy through the Virtual Asset Service Provider platform, and the Customer meets the identification criteria, a Customer account will be created, and all Customer information, transaction, and trading history, and all information related to the virtual asset account will be stored in that address.
The Customer shall have a virtual asset account to manage their virtual assets.
5.2. Virtual asset account and its security
The Virtual Asset Service Provider shall ensure the security of the Customer's virtual asset transfers. Since the customer's actions can create a risk, the customer's name and password belong to confidential information, and the customer is responsible for not disclosing or transmitting this information to any third party, and ensuring the security of personal information. The customer is responsible for protecting the security of his account and password for each transaction made through the account.
The customer is responsible for following obligations and the security of his address. It includes:
(1) Notify the Virtual Asset Service Provider immediately upon realizing of any unauthorized use of the Customer's password or breach of security rules;
(2) Strictly follow all rules and regulations of the Virtual Asset Service Provider related to security, withdrawal, trading, and fees;
(3) After completing the service, log out of the system according to the relevant instructions;
6. VIRTUAL ASSETS
6.1. Virtual assets
(1) Virtual assets are not the currency and are not guaranteed by the Central Bank (Bank of Mongolia) or the Government.
(2) Virtual assets are not covered by deposit insurance or any other insurance to protect investors in securities.
Your personal data will be properly protected and kept confidential, but DAX has the right to collect, process, use or disclose your personal data in accordance with the applicable laws. Depending on the products or services concerned, your personal data may be disclosed to the following to third parties:
6.2. Transaction
The customer can make a money transfer to his/her registered Cash account using Mongolian currency MNT and other currencies.
Warning:
Transactions of virtual assets are considered to have been completed in the period registered in the registration system, regardless of the period of the transaction.
In the case of receiving a deposit in a currency other than MNT, the amount will be transferred to the account at the exchange rate set by the transferring organization.
Depending on technical, internet, or other external factors, the transaction may be delayed or reversed.
The Virtual Asset Service Provider shall not be liable for transactions made by the Customer through its negligence.
6.3. Fee
The Customer shall pay the appropriate Fees at the percentage determined by the Virtual Asset Service Provider or specified on this trading platform for eligible services, transactions, deposits, withdrawals, or other forms of trading.
Warning:
For deposit and withdrawal, other types of commissions may be calculated by the bank and the institution to which the customer has applied.
Transactions may be returned due to incorrect information entered or lack of appropriate Fees.
If the Customer spends the income without participating in the trade, he will not be exempted from the spending fee.
7. RIGHTS AND OBLIGATIONS OF VIRTUAL ASSET SERVICE PROVIDER
7.1. Virtual Asset Service Provider’s rights
(1) If the Customer violates, fails to fulfill, or is no longer able to fulfill the obligations specified in these Terms of Service, he has the right to take measures up to restricting or blocking the Customer's right to receive services and his address.
(2) If the Customer violates the Law on AML/CFT, the Criminal Code, or other relevant laws The Virtual Asset Service Provider has the right to refer to the relevant authority.
(3) The Virtual Asset Service Provider has the right not to delete the deposit, withdrawal, trade, and other records of the customer for some reason.
(4) The Virtual Asset Service Provider has the right to provide the customer's information if an authorized government organization of Mongolia or a foreign country requires any customer's information based on the relevant law.
(5) The Virtual Asset Service Provider has the right to demand the Customer to fulfillment of the appropriate obligations specified in these Terms of Service.
(6) If it is found that the Customer entered false information during registration, violated the reputation of the Virtual Asset Service Provider, disseminated false information to the public, attempted to interfere with the operation of the Platform in person or electronically, or deliberately increased or decreased the trading rate, the Customer's account will be temporarily or irrevocably closed. or has the right to restrict or take other necessary measures.
(7) If the customer has a sudden impact on the price of virtual assets, artificially set it, abuses insider information, or acts contrary to laws, regulations, or generally accepted moral standards, the Virtual Asset Service Provider has the right to close the customer's account, freeze virtual assets, cancel trading, and has the right to take other necessary measures such as notifying the organization.
7.2. Virtual Asset Service Provider Obligations
(1) It is the responsibility of the Customer to accurately deliver information related to virtual assets.
(2) The Virtual Asset Service Provider is solely responsible for the accuracy of the Statements and Warranties outlined in Section 4.2 of these Terms of Service.
(3) The Customer's data security is strictly protected by the relevant law.
(4) It is the duty to keep the Customer's monetary and virtual assets securely or by applicable laws.
(5) Is responsible for taking measures implemented by the regulatory authorities.
8. RIGHTS AND OBLIGATIONS OF THE CUSTOMER
8.1. Customer rights
(1) The Customer has the right to freely trade, store and transfer his legally owned virtual assets.
(2) Require the Virtual Asset Service Provider to perform its obligations appropriately under these Terms of Service.
8.2. Customer obligations
(1) The customer is responsible for submitting the relevant documents accurately.
(2) The Customer shall be responsible for proper monitoring of its Virtual Asset Account and fiat currency account.
(3) The Customer is fully responsible for maintaining the accuracy of the Statements and Warranties specified in Clause 4.1 of these Terms of Service.
(4) The Customer is fully responsible to fill in the relevant information accurately.
(5) In case of changes in his/her information, the Customer is obliged to log into the Platform, update the changed information immediately, and, if necessary, inform the appropriate official of the Virtual Asset Service Provider.
(6) The Customer is obliged to notify the Virtual Asset Service Provider immediately if any suspicious cases are detected in his/her Address, Virtual Asset Account, or fiat account.
(7) The Customer is obliged not to transfer or use his Address, Virtual Asset Account, or Fiat account to any person under any conditions prohibited or permitted by law or not prescribed by law.
(8) The Customer is responsible for using the Service by any laws, Terms of Service, and other terms and conditions of the Service of the Virtual Asset Service Provider.
(9) When using the service, The Customer is responsible for not violating public interests, morals, generally accepted norms, or the legal rights and interests of other persons.
(10) The Customer agrees not to use the services for market manipulation.
(11) The Customer is responsible for not disclosing his/her login name, password, or other information to others, and the Virtual Asset Service Provider shall not be liable in any case for such disclosure.
9. WITHDRAWAL AND TRANSFER OF FUNDS AND ORDERS
9.1. Withdrawal
The Customer may withdraw funds from his/her Cash Account at his/her own will.
9.2. Transfer money
The Customer can transfer a certain amount of money to his Virtual Account as virtual assets at his own will.
9.3. Ordering and cancellation
(1) A trade is executed when a Customer's order partially or fully matches another Customer's order on the platform.
(2) A customer can cancel an order before it is matched with another customer's order.
(3) If a customer's order matches another customer's order, the order is fulfilled immediately and cannot be canceled, changed, or canceled.
10. RISK
Warning: Virtual asset is a newly created value not only in Mongolia but also in other countries, so risks other than those listed below may occur.
The Customer acknowledges that the following risks may arise depending on the nature of virtual assets. It includes:
10.1. Common risk
The following common risks may arise about virtual assets: It includes:
(1) Unexplained price fluctuations,
(2) The occurrence of other common risks that cannot be predicted.
10.2. Risks associated with virtual assets
(1) Virtual assets do not belong to currency and are not guaranteed by the Bank of Mongolia or the Government of Mongolia, so there is no fixed price for any virtual asset.
(2) Virtual assets may not be covered by Deposit Insurance, Securities Investor Protection Insurance, or other types of insurance.
(3) Depending on external influences, such as international norms and domestic laws applicable to virtual assets, the value of virtual asset services and any virtual asset may change dramatically.
(4) Other unpredictable risks may arise in virtual assets.
10.3. External risk
(1) The value of the virtual asset will be determined by the demand of the market participants, so the Customer can expect large losses depending on the fluctuation of the value.
(2) Virtual assets and virtual asset services are highly susceptible to fraud and cyber-attacks.
(3) In the event of technical difficulties with the Virtual Asset Providers, the Customer may be unable to access and use their Virtual Assets.
(4) The assets owned or held by the virtual asset service provider may not be sufficient to fully cover the losses incurred by the customer.
(5) Transactions in Virtual Assets may be irrevocable, fraudulent, or otherwise subject to the risk that the customer may not be reimbursed for losses incurred due to erroneous transactions.
(6) Network outages and outages may occur due to other unforeseeable reasons
11. LIABILITY OF THE VIRTUAL ASSET SERVICE PROVIDER
11.1. Common liability
The Virtual Asset Service Provider undertakes the following responsibilities. It includes:
(1) Responsible for the normal operation of the platform;
(2) Protect the Platform from appropriate attacks;
(3) To protect the rights and interests of the Customer to the extent prescribed by law;
(4) Accept other responsibilities prescribed by law.
12. LIMITATION OF LIABILITY
12.1.Exclusions and Limitations of Liability of Virtual Asset Providers
The Virtual Asset Service Provider shall not be liable in the following cases. This includes, but is not limited to:
(1) Customer access lost due to any failure of the system or platform operated by the virtual asset service provider or for any other reason;
(2) Damage caused by incorrect transactions caused by the device or internet connection used by the customer;
(3) Cyber attacks (hacking) and damages caused by the customer's wrongful actions;
(4) Liability arising from the violation of Article 4.1 of these Terms of Service;
(5) In the event of the circumstances specified in Article 16 of these Terms of Service;
(6) The Virtual Asset Service Provider is not a Customer's broker, intermediary, agent, or adviser, and does not assume any responsibility or liability for influencing or relating to the Customer's trading decisions. The statements, news, and information provided by the Virtual Asset Service Provider do not in any way constitute investment, financial, or trading advice of any kind. In all cases except as stated in the Terms of Service, trading is done automatically and depends only on the customer's own investment decisions, so the customer is solely responsible for the risks and losses incurred.
(7) The Virtual Asset Provider shall not be liable for any other matter beyond the control of the Virtual Asset Service Provider.
13. COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM
13.1. Combating money laundering and financing of terrorism
The Customer and the Virtual Asset Service Provider are responsible for complying with the Anti-Money Laundering and Anti-Terrorist Financing Act or international anti-money laundering and anti-financing of terrorism agreements and conventions.
13.2. Know your customer
(1) The Virtual Asset Service Provider complies with the Law on Combating Money Laundering and Financing of Terrorism and the Regulations for Preventing Money Laundering and Financing of Terrorism approved by the Bank of Mongolia on January 21, 2019, as an appendix to Presidential Order No. A-26 and other relevant laws and regulations, and can conduct activities to identify the Customer.
(2) The personal information of the Customer, which is provided by the Virtual Asset Service Provider for registration on the platform, will be used for the following purposes. For example, Customer identification, money laundering, terrorist financing, fraud, or other criminal activities are carried out through the platform or for other lawful purposes determined by the Virtual Asset Service Provider.
(3) By providing such information to the Virtual Asset Service Provider, the Customer grants the Virtual Asset Service Provider the right to retain such information for as long as the Customer's account is active and after the account is closed.
(4) The Customer grants himself and the Virtual Asset Service Provider the right to protect themselves from financial fraud and to verify the customer directly or through a third party. The information required from the Customer includes but is not limited to, the Customer's name, e-mail address, contact information, phone number, identity card, and date of birth.
(5) By providing the information, the Customer confirms that the information is accurate and complete. After registration, the Customer is responsible for maintaining the accuracy and completeness of his/her personal information provided in the registration and updating it from time to time.
(6) If the information provided by the Customer is found to be false, incorrect, or outdated, the Virtual Asset Service Provider will send a correction or deletion notice, and in this case, the service used by the Customer may be stopped in whole or in part.
(7) If the Virtual Asset Service Provider fails to contact the Customer according to the contact information provided by the customer, the customer shall be fully responsible for any resulting damages.
(8) The customer hereby acknowledges that he/she is responsible for updating the customer's registration information whenever there are any changes. The Customer also agrees that the Customer's information may be provided to authorized third parties to prevent financial crimes and fraud and for use in investigating the activities of the Virtual Asset Service Provider.
14. CONDITIONS LIMITING SERVICE
Platform services will be restricted in the following cases. It includes:
14.1. External influence
Third-party attacks or (i) hacker attacks, (ii) system virus attacks, (iii) telecommunication technology adjustments, upgrades, or repairs, (iv) technical errors, (v) bank security risks, (vi) government rights Due to the decision of the relevant organization, (vii) malfunction of the related party, (viii) failure of the system or network of the related party, (ix) unexpected or force majeure factors specified in Article 16 of these Terms of Service, the Platform service may be temporarily suspended until the problem is resolved.
In any of the above-mentioned cases, to protect the Customer and prevent possible damage, the operation of the platform may be returned to a suitable time earlier.
14.2. Internal problems
Virtual Asset Services may be temporarily suspended for platform improvements or other issues
15. CONFIDENTIALITY
The Virtual Asset Service Provider shall maintain the Customer's confidentiality by the applicable laws of Mongolia.
16. TAXATION
16.1. Taxes applicable to customers
By the relevant laws of Mongolia and the Customer's place of residence, the Customer shall be responsible for the related tax issues independently or without the involvement of the Virtual Asset Service Provider.
17. CLOSURE, SUSPENSION, OR TERMINATION OF CUSTOMER ACCOUNTS
The Virtual Asset Service Provider reserves the right to close, suspend or terminate the customer's account within the scope of applicable laws, rules, and regulations. It includes:
17.1. Account Suspension
The Virtual Asset Service Provider has the right to block or temporarily freeze the activity of the account if the Customer suspects that the Customer has violated applicable laws and these Terms of Service when using his account. In this case, the virtual asset service provider is not responsible for the consequences of the temporary or permanent freezing of the customer's account. The virtual asset service provider reserves the right to store and use the account information. Account control is mandatory in the following cases. It includes:
(1) The account is relevant to any governmental action, criminal investigation, or litigation;
(2) Illegal activity related to the account has been detected;
(3) Unauthorized access to the account was detected;
(4) Requested by the court and competent authorities;
In case of the death of the customer, his legal heir shall freeze the account until the Customer's inheritance is opened based on the legal document of inheritance of the Customer's property by the law, transfer the balance of the Customer's account to the newly opened account of the heir, and close the Customer's account.
17.2. Account Cancellation
In the following cases, the virtual asset service provider has the right to immediately cancel the Customer's account, including:
(1) The Customer has directly or indirectly re-registered or attempted to register as a Customer using the name of another person or person;
(2) The information in the Customer's account was false, outdated, or incomplete;
(3) When there are amendments or changes to the terms of service, the Customer requests to cancel the account because the amendment is not acceptable;
(4) Customer has requested termination of service;
(5) Violation of prohibited provisions of the Terms of Service or failure to fulfill obligations;
(6) Other grounds for termination of the account by the Virtual Asset Service Provider;
17.3. Manage Account Balances After Account Termination
Fees paid to the virtual asset service provider by the Customer will be deducted from the account balance after the account is canceled and the balance will be available within 5 business days after the account is canceled.
If the account is canceled due to a violation of Terms of Service, laws, or fraud, the balance of the account will be closed, and if required by the authorized body, the remaining amount will be deducted from the Service fee and transferred to the account specified by the authorized body.
18. FORCE MAJORE
18.1. Description
Unforeseen or Force Majeure shall mean a situation beyond the control or unforeseeable or predictable of the Virtual Asset Service Provider, which renders it impossible for the Virtual Asset Service Provider to provide the services mentioned in these Terms of Service or related to the Virtual Asset. This includes but is not limited to natural disasters such as earthquakes, high winds, fires, lightning, floods, droughts, radioactive contamination, international border closures (either side), out-of-control internet restrictions, labor disputes civil unrest, strikes, other industrial events, epidemics, war, state of war, quarantine, government decrees, other measures, and social emergencies.
18.2. Limitation of Liability for Force Majeure
If the Virtual Asset Service Provider does not provide or interrupts the service related to the Virtual Asset due to the circumstances specified above, the relevant responsibility shall be released and the relevant obligation shall not be assumed.
19. GOVERNING LAW AND DISPUTE RESOLUTION
19.1. Regulating Act
Disputes related to these Terms of Service shall be resolved by the relevant laws of Mongolia.
19.2. Dispute resolution
Any disputes arising in connection with these Terms of Service shall be resolved by mutual agreement between the Parties. In case of failure to reach a solution, the matter shall be referred to the International Arbitration of Mongolia under the National Chamber of Commerce and Industry of Mongolia.
20. TERMS OF SERVICE TERMINATION
The Terms of Service shall terminate as specified in the Terms of Service when the Customer submits a request to close his Address and the Virtual Asset Provider accepts the request.
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