Sabemos que esse tipo de documento é grande e complicado, por isso resumimos as ideias principais de cada parte do lado direito. Tudo para que você sinta mais segurança e transparência na hora de investir.
“Portfolio” means the Wallets set owned by the Client, including all the Resources held in this Wallets, and to be used by BYEBNK to provide the Services.
is this deal for the cryptocurrency asset management services.
are virtual assets, protected by cryptography, present exclusively in digital records, whose operations are executed and stored in a computer network, which are not considered Collective Investment Contracts and/or Securities, and which are subject to negotiation in the Exchange.
is the digital platform established by ByeBnk Intermediações to allow to fulfill negotiations with Cryptocurrencies by its users, with which the Client maintains Wallet (s) that will be accessed by BYEBNK for the services' purpose.
is any and all information (written or verbal) relating to data, materials, information, documents, technical or commercial specifications owned by the Parties.
are the financial resources in national currency and/or in Client's Cryptocurrencies available in Wallet (s) maintained by the Client with the Exchange.
are the Portfolio discretionary management services, comprising the investments making in Cryptocurrencies by BYEBNK, on Client’s behalf, based on the use of the Resources available in the Wallets.
are the securities subject to Brazillian Law No. 6,385, December 7, 1976 regime.
are virtual portfolios for the resources storage and client’s ownership, maintained by the client with the Exchange.
Some words may have a double meanings. One this section we set a definition for these words
This User License Agreement (“ULA”) is a legal agreement between the user (natural or legal person) (the “USER”) and BYEBNK INTERMEDIAÇÕES LTDA, a legal entity governed by private law, registered under CNPJ n. 31.910.297 / 0001-56, headquartered at Avenida Nossa Senhora Do Carmo, 99, 4th floor, Sion, Belo Horizonte - MG, CEP 30310-000, (the “BYEBNK”), for the financial platform services use (“PLATFORM”), offered by BYEBNK through the website“ byebnk.com ”(“ Site ”) or“ app ”, comprising the computer program and may include the associated physical means, as well as any printed, online or electronics materials. When using the PLATFORM, even partially or as a test, the user will be bound by this ULA terms, agreeing with its provisions, mainly concerning CONSENT FOR ACCESS, COLLECTION, USE, STORAGE, TREATMENT, AND INFORMATION PROTECTION USER TECHNIQUES by BYEBNK, necessary for the functionalities full execution offered by the PLATFORM. In case of disagreement with the presented terms, the PLATFORM use requires to be immediately suspended by the USER.
Here we establish that you are agreeing to the terms of service
a) BYEBNK has expertise in analyzing and investing in crypto assets, to provide management services for cryptocurrency investment portfolios (i.e., crypto assets that do not qualify as Collective Investment Contracts and Securities);
b) the USER has Resources available in the Client's Wallet (s) on the Exchange; and
c) the USER is aware that, due to legislation absence in Brazil applicable to trading by investors with crypto assets in Brazilian territory, BYEBNK and the Services to be provided by it are not regulated by Brazilian regulatory or self-regulatory authorities, for example, the Securities and Exchange Commission (“CVM”) or Central Bank of Brazil (“BACEN”) and, even so, the USER is willing to assume the risks resulting from it and therefore wishes BYEBNK to manage the Customer resources held in the Wallets (s) through the Portfolio constitution.
Explain the reason that you hired us
The USER hires BYEBNK to provide Services, which will consist of Portfolio management in a discretionary manner by BYEBNK, in such a way that BYEBNK necessarily selects investment opportunities in Cryptocurrencies and may execute them in Portfolio favor from its exclusive management criteria.
The Services are going to be provided on a best efforts basis, not guaranteeing the USER any results in level or performance concerning the Portfolio.
The Services performed by BYEBNK consists of investment strategies establishments intended to optimize returns for the Portfolio, as well as respective transaction negotiations and closing involving Cryptocurrencies to form it directly with the Exchange.
BYEBNK is responsible for Cryptocurrencies custody belonging to the Portfolio, able, at its sole discretion, to secure this Cryptocurrencies in online environments, such as, for example, cloud providers and Exchange itself (hot storage), or in offline environments, such as hardware not connected to the internet and pen-drives (cold storage).
BYEBNK may conduct the Portfolio exclusively under the provisions contained in this ULA, however, BYEBNK is not responsible for any alteration made on the Wallets by the USER and/or that is not part of this USER scope.
The USER grants BYEBNK the necessary powers to manage the Portfolio, including, but not limited to, the powers for BYEBNK to relocate the Resources available in the Wallet (s) maintained by the Client with the Exchange, and is the Exchange, as the Consenting Intervener, aware of the said powers granted by the Customer to BYEBNK under this ULA terms.
On this section we list the services that byebnk will provide to you. Basically managing cryptocurrencies
Exclusion from the Services scope
Financial, economic, or tax advice or consultancy to the USER isn't a Services scope part, including that related to Securities, as well as any other service not expressly mentioned in this ULA. Neither is the Services scope to make investments by BYEBNK, on the USER's behalf, in cryptocurrencies that can be considered Collective Investment Contracts and/or Securities, with the Services remaining restricted to Portfolio management, composed solely and exclusively, by Cryptocurrencies.
These are the services not included
To provide the Services, BYEBNK will be responsible for the USER's own risk and observance of these ULA provisions:
a) Buy, sell or exchange, on USER behalf, Cryptocurrencies belonging to the Portfolio with the Exchange;
b) perform and be responsible for the Cryptocurrencies custody belonging to the Portfolio;
c) move the Wallet (s), on USER behalf, exclusively for the investing purposes (i) the Resources in Cryptocurrencies, (ii) transferring Resources between Wallets owned by the USER, and / or (iii) transfer Resources belonging to the Portfolio to BYEBNK-owned accounts held in any crypto exchanges, for paying the remuneration purpose fixed on this ULA;
d) receive, by any means available by Exchange for this purpose, vouchers, and confirmations of all Portfolio operations executed by BYEBNK on USER behalf;
e) provide, in real-time, Portfolio performance and composition, via web dashboard or mobile application reports, or other forms that may become available; and
g) keep updated, in perfect order and available to USER, in the form and terms established in the current regulation, all the documentation related to the Services.
Nevertheless, the obligations described above, BYEBNK shall make available to the USER, by physical or electronic means (at BYEBNK discretion), upon prior and express request by the USER in this regard and, within a maximum 90 (ninety) days period after each calendar semester closing, the total remuneration amount received by the Services for this period, and USER should also keep evidence of this report for the proof purpose for any tax authorities who may be interested in accessing that document.
Byebnk's responsibilities about custody, buy, sell and move assets from USER's wallets
Third-party expenses and costs
The following expenses are paid on USER behalf, using Portfolio resources : (i) any and all emoluments, fees, commissions and/or charges of any nature resulting from legal or contractual demand, due today, or that may be due to Exchange on cryptocurrency transactions executed for Customer’s benefit for each Wallet; (ii) resulting expenses from eventual Cryptocurrencies custody; and (iii) BYEBNK remuneration fixed in item 3.2 below.
For expenses unpaid by the Client, BYEBNK can, at its discretion, liquidate Wallet positions, as applicable, enough to make the respective payment or request the USER to provide financial resources to the Wallet (s) to cover expenses that are charged in fraction form or entire Cryptocurrencies units.
Set that third party fees such as blockchain fees are from USER responsibilities and that BYEBNK can pay the fees using the amounts owed by the user
For the Wallet (s) management performance, BYEBNK will be entitled to receive (i) remuneration as 2% (two percent) management fee per year, which will be collected on Portfolio's Equity (as described below), calculated daily and paid monthly to BYEBNK until the 5th (fifth) immediately business day on the referred calendar month, and (ii) a 20% (twenty percent) performance fee, equivalent to a percentage of what exceeds the defined benchmark or reference index, that must be paid (if applicable) every six months until the 5th (fifth) immediately business day on the referred semester, subject to the following terms and conditions :
BYEBNK is expressly authorized to proceed with one or more Wallets transaction related to the Portfolio, on USER's behalf, to proceed with its remuneration described above, which may include: (i) execute, maintain and/or request, in its favor, the amounts transferred from the USER in national currency to a bank account held by BYEBNK, to be indicated by BYEBNK to the USER; (ii) promote Cryptocurrencies included in the Portfolio sale, at the price (s) determined by the Exchange; and (iii) promote any USER's credits compensation against the amounts unpaid by the USER; and
"Portfolio Equity" means the USERS’ values total earned by multiplying Portfolio's assets by their settlement value on the exchange.
This is how byebnk will charge you the performance and management fees
Redeem and Redemption
The USER may, at any time, and upon notification to BYEBNK, by electronic correspondence (e-mail), by telephone contact, by its application, or any other means that BYEBNK makes available, according to the USER's registration information contained in its register maintained with BYEBNK and, as long as the previously informed deadlines are respected, request the Cryptocurrencies redeem that is a Portfolio part for obtaining funds in local currency purpose, being certain that the redeemed will be subject to (i) the Cryptocurrencies liquidity conditions in Exchange, (ii) the operating terms and conditions applicable to the financial resources withdrawal in national currency from Exchange Wallets (including any restrictions on the volume of the financial resources imposed by Exchange), and (iii) the Cryptocurrencies choice, exclusively by BYEBNK, to be redeemed.
The currency resources derived from the Cryptocurrencies redeem the provision object in item 4.1. above will necessarily be credited to the USER in a bank account owned by him, informed by him in his register maintained with the Exchange, and BYEBNK is not responsible, in any way, for the USER's registration veracity information maintained with the Exchange.
Your right to redeem your investment any time that you want
The USER and BYEBNK agree to use and maintain any and all Confidential Information, except in the event below, to the same extent and diligence degree that you would dispense with your own Confidential Information, without revealing, by action or omission, any Confidential Information obtained in the Services negotiations and execution, without the other Party prior and express consent.
BYEBNK will maintain absolute confidentiality about the USER's Confidential Information, being obliged, in an irrevocable and irreversible manner, not to publish, disclose or otherwise make them accessible, directly or indirectly, to anyone, except those that they need for service fulfillment.
BYEBNK will not be responsible for the Confidential Information disclosure in the following cases:
a) in case that BYEBNK had previous knowledge about it or that the information was legally obtained from a third party before had been received from the USER, therefore, BYEBNK is not obligated to maintain any confidentiality
b) if it is or has become available to the public in any other way, other than as any act or omission resulting by BYEBNK's or its representatives' acts; or
c) if it has been requested by any authority and, after notification to the USER, the USER has not obtained a judicial decision to release BYEBNK from providing such information.
The USER declares being aware of and agrees with the risks inherent in electronic means use, including concerning improper access vulnerability by third parties to said information, as well as releasing BYEBNK, its partners, directors, employees, agents, and representatives of any liability for losses and/or damages that the USER or any persons connected to or related to USER may incur as a result of the referred electronic systems use, except in cases witch BYEBNK's intention remains proved.
USER personal data are kept safe excepted under a legal order
USER and BYEBNK will not maintain any exclusive or employment relationship with partners, directors, employees, agents, and representatives, neither will any partnership structure, solidarity or corporate relationship be established between them, therefore competing with each of them, particularly and exclusively, their respective labor fulfillment, social and social security obligations, under current legislation.
The USER agrees and authorizes telephone conversations recording between the USER and BYEBNK. Besides, the USER agrees that these recordings and information sent electronically can be used as evidence in court.
If any Party fails to claim any right invested to them by this ULA or by law, it will not be interpreted as a rejection of their legal or contractual rights, in debt renewal, or even these terms amendment.
This ULA obliges the Contracting Parties, as well as their heirs or successors, in any capacity. The USER can not assign or transfer, in whole or in part, the rights and obligations resulting from this ULA, without BYEBNK's express prior written consent.
If any clause or stipulation of this ULA cannot be applied, in total or in part, as written here, or has its validity or applicability questioned, such clause or stipulation will not affect the other clauses and stipulations of this ULA.
Any content reproduction owned by BYEBNK is prohibited unless prior written authorization from BYEBNK, or in cases which it is intended for the USER's exclusive personal use. In no case will the USER acquire any intellectual property right over any content part.
This ULA must be interpreted under Brazilian law, which the Parties declare to be fully aware of.
established that some communications could be recorded and that this term is mandatory for the parties successors
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