Terms of Use

Acceptance of terms

Thank you for choosing Hata. The following Terms and Conditions and the Privacy Policy (together, the “Terms”) apply to any person that registers for and/or opens an account with Hata (“Hata Account”) through Hata.io or any associated mobile applications, website, or APIs, and who uses our Hata Exchange, digital broker, OTC service, and other accompanying service (together, the “Hata Platform”).

Depending on which country or region you have verified your Hata Account in, the Terms constitute a legally binding agreement between you and a specific Hata entity. References in these Terms to “Hata”, “we”, “us”, “our” or any similar term is to the relevant Hata entity you are a customer of. Here is a table which provides the information on which Hata entity you have contracted with:

For further information on the different Hata group companies, please see the Company Information page on the Hata website.

For the purposes of these Terms, any reference to “we” “us” “our” and/or any similar term shall be construed as reference to Hata. By registering for and opening a Hata Account, you unconditionally accept these Terms and agree to be bound by and act in accordance with them.

You also accept and agree that you are solely responsible for understanding and complying with all Malaysian laws, rules, regulations and requirements that may be applicable to your use of the Hata Platform and/or to your Hata Account, including but not limited to, any laws related to export or import activity, taxes or foreign currency transactions. You acknowledge and agree that you may not be able to use all the functions of the Hata Site, depending on your country of residence.

Please read these Terms carefully before using the Hata Platform because they affect your legal rights and obligations.

Throughout these Terms, “cryptocurrency” refers to any type of digital or virtual asset that utilises cryptographic techniques to secure transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies operate on decentralised networks based on blockchain technology, which serves as a public ledger for all transactions. This definition encompasses 'digital assets', 'digital payment tokens', “digital currencies”, and any similar classifications in other jurisdictions where our Hata Platform is offered.

In the event of any inconsistencies or discrepancies between the English version of the Terms and any translated version(s), the English version shall prevail and take precedence.

Amendment of terms

Hata may amend the Terms from time to time. You should visit the Hata website regularly to check when the Terms were last updated (as displayed at the top of this document) and to review the current Terms. We will do our best to notify you of any amendments to the Terms that we consider likely to materially affect your rights and obligations. Any such notice will be posted on the Hata Platform, or sent by email to the address associated with your Hata Account (see Electronic Communications).

The continued use of your Hata Account, after any amendment to these Terms, constitutes your acceptance of the Terms, as modified by such amendment. If you do not accept the Terms, or any amendment to them, you must immediately stop using the Hata Site and your Hata Account.

Eligibility

By opening a Hata Account, you expressly warrant and represent that:

• You are 18 years of age or over and have full capacity to accept the Terms and enter any transaction available through the Hata Site;
• You will not open, or attempt to open, a Hata Account under any name except your own; or use your Hata Account to carry out transactions on behalf of a third party;
• You will follow the Hata Business account application process if you seek to open and use a Hata Account for a non-individual legal entity (e.g. a company, trust or partnership);
• You will not have more than one Hata Account; use or access any Hata Account other than your own; or assist any other person in obtaining unauthorised access to any Hata Account;
• You will provide security for transactions carried out through your Hata Account by ensuring there is sufficient Local Currency or cryptocurrency (as the case may be) in your Hata Account in advance of any transaction;
• You will not allow or facilitate the deposit of Local Currency into your Hata Account unless that deposit is made in accordance with the Deposit Requirements (see Deposits);
• You will not allow or facilitate the withdrawal of Local Currency from your Hata Wallet to a bank account held in the name of a third party (see Withdrawals);
• You will not use your Hata Account for or in relation to any illegal activity, any Prohibited Activity, in violation of any laws, statutes, ordinances or regulations, or in breach of Hata’s Export Controls and Sanctions requirements;

Any capitalised terms used in this Eligibility section shall have the meaning given to them in these Terms. Reference in these Terms to “Local Currency” means fiat or government issued currency such as the United States Dollar (USD) or the Malaysian Ringgit (MYR).

By opening a Hata Account you accept and agree that Hata may, without further notice and in its sole discretion, terminate, suspend or restrict the account of any customer who uses, or who we reasonably suspect may be using, the Hata Site or any Hata Account in a manner that is inconsistent with the letter or spirit of these Terms.

Accuracy of information provided. You represent and warrant that all information, documentation, and declarations you provide Hata at any time are true, accurate, and complete. You acknowledge that Hata is entitled to rely on the information and documentation submitted by you unless Hata has reasonable grounds to believe that such information is incorrect, inconsistent, or unreliable.

If you provide false, inaccurate, incomplete, or misleading information, or fail to correct or update any information previously submitted, you shall be solely responsible for any consequences arising from such misrepresentation or omission. To the fullest extent permitted by law, you agree to indemnify and hold harmless Hata, its directors, officers, employees, and agents from and against any loss, liability, penalty, regulatory action, enforcement action, cost, or expense (including reasonable legal fees) incurred by Hata that directly arises from your misrepresentation or omission concerning such information.

Nothing in this clause limits Hata’s own responsibilities under applicable law, nor does it require you to indemnify Hata for any failure by Hata to comply with its own statutory or regulatory obligations.

Duty to update information. You must promptly update Hata if any information or documents previously provided to Hata become inaccurate, incomplete, or outdated, including without limitation, your tax residency, nationality, residential address, identification documents, or any other information relevant to your eligibility to use the Hata Platform. You acknowledge that your failure to keep such information up to date may result in restrictions on your Hata Account, including suspension or termination, if Hata determines that such
outdated information creates or may create a regulatory, compliance, or operational risk for Hata. Hata shall not be liable for any loss arising from your failure to update your information in a timely manner.

Restrictions based on tax residency. For the avoidance of doubt, Hata may, at its sole discretion, decline to onboard, continue serving, or permit the use of the Hata Platform by any individual or entity whose declared tax residency would cause Hata to breach, or potentially breach, any applicable regulatory, licensing, or supervisory restrictions imposed by the jurisdiction of such tax residency or by any other relevant authority.

Intellectual Property

All titles, ownership rights, and intellectual property rights in or relating to the Hata Site and Hata Exchange (which for the avoidance of doubt that also include our digital broker and OTC service unless otherwise specified in these Terms) (“Hata Platform”), any information transmitted by, to or over the Hata Platform, and information regarding use of the Hata Platform will remain with Hata. Nothing on the Hata Platform will be construed as conferring to you, the user, or any other users, any licence of any of Hata’s or third party’s titles, ownership rights, and/or intellectual property rights, whether by estoppel, implication or otherwise save as expressly set out in these Terms.

The Hata Platform may provide users access to content, information, quotes, videos, photos or other materials (“Third Party Content”) supplied by certain third parties (“Third-Party Content Providers”). Hata does not endorse or recommend, and is not responsible for verifying the accuracy, validity, or completeness of any Third-Party Content provided through the Hata Platform. Your use or reliance on such Third-Party Content is at your sole risk. All titles, ownership rights, and intellectual property rights in or relating to the Third-Party Content will remain with the applicable Third-Party Content Provider. Nothing on the Hata Platform will be construed as conferring on any users any licence, save as expressly set out in these Terms, of any Third-Party Content Provider’s title, ownership rights and/or intellectual property rights, whether by estoppel, implication or otherwise.

Provided that you are in compliance with these Terms, you may access the Hata Platform using properly issued credentials. All other rights in the Hata Platform are reserved by Hata. In the event of your breach of these Terms, we will be entitled to terminate your use and access to the Hata Platform immediately.You agree not to do any of the following:

• modify, adapt, reproduce, translate or create derivative works of the Hata Platform, or any data or content (including the Third-Party Content) provided through the Hata Platform, or any portion thereof, or attempt to reverse engineer, decompile, disassemble, or otherwise attempt to discover the source code of the Hata Platform;
• remove any copyright notice, trademark, legend, logo or product identification from the Hata Platform;
• misrepresent any other sites as the Hata Site by co-opting the visual “look and feel” of or text from the Hata Platform, or otherwise violate Hata’s intellectual property rights, including, without limitation, “scraping” text or images from the Hata Site or any of Hata’s banners, link texts, search marketing, or all other online and offline campaigns;
• edit, modify, filter, truncate or change the order of the information contained in any part of the Hata Platform, or remove or obscure or minimise any part of the Hata Platform in any way without Hata’s express authorisation; or
• make any commercial use of the Hata Platform or Hata’s logo, trademark, or brand name in any way.

Each user authorises Hata to use any information or content provided by users or processed in connection with the use of the Hata Platform (e.g. personal information, geographic information, device information) in the context and for the purpose of providing services or products on the Hata Platform and the secure use of the Hata Platform.

Risks

Before using the Hata Site, you should ensure that you understand the risks involved in buying, selling or trading cryptocurrencies. Cryptocurrency markets can be volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your assets. This market volatility and other risks involved in buying, selling or trading cryptocurrencies are explained on the Risk Warning page of the Hata website. There may be additional risks not identified in these Terms or in the Risk Warning.

You should carefully assess whether your financial situation and risk tolerance is suitable for buying, selling or trading cryptocurrency. You accept and agree that you are solely responsible for any decision to buy, sell, trade or otherwise hold or deal with cryptocurrency.

Undertaking trades on an electronic trading system will expose you to the technical risks associated with the particular trading system, including the failure of software, hardware or connectivity issues. Neither we nor our Affiliates shall be responsible nor shall have any liability to you or your Authorised Users for such failures or any related losses.

Electronic communications

You accept and agree that:

• any communications, agreements, notices and/or any other documents (together “Communications”) relating to your Hata Account or your use of Hata’s services will be provided to you electronically by posting them on the Hata Site, emailing them to the email address you have provided to us, or through any other form of electronic communication. You consent to receiving all Communications electronically;
• you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address;
• you assume full responsibility for providing Hata with a valid and accessible email address to which any Communications may be sent, and for ensuring that email address and any other contact information is kept up to date. Any Communication sent to the email address you have provided to us will be deemed to have been received by you. You can amend your contact information by signing-in to your Hata Account and accessing the Settings page.

You may at any time withdraw your consent to receiving Communications electronically by contacting [email protected] or by disabling it in your Hata Settings. You acknowledge that failure to give, or withdrawing, consent to receiving Communications electronically puts the security of your Hata Account at risk (see Account Security) and that Hata reserves the right to close your Hata Account in the event you fail to give, or withdraw, your consent to the receipt of Communications electronically.

Identity verification

Hata implements and maintains the highest standards of Know Your Customer (“KYC”) processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing. While globally, our industry is largely unregulated, Hata voluntarily adheres to local and international compliance standards in relation to customer due diligence, as explained on the Compliance page of the Hata website.

To ensure we meet these standards, our customers are required to provide certain personal details and documents when opening a Hata Account (“Identity Verification”). The nature and extent of the Identity Verification required will depend upon which of our supported countries you are resident in, and the deposit and withdrawal limits that you wish to apply to your Hata Account. In certain circumstances, Hata may also perform enhanced due diligence (“EDD”) procedures in relation to your Hata Account. You accept and agree that you will remain subject to such procedures at all times.

Hata reserves the right to, at any time:

• restrict or suspend your Hata Account when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/or EDD; or
• terminate your Hata Account if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or EDD.

You accept and agree that there may be delays in accessing your Hata Account, or in carrying out transactions through your Hata Account, while we undertake any Identity Verification and/or EDD procedures.

Retention of Information. Hata is required to retain certain information and documentation obtained as part of the Identity Verification and EDD procedures. These requirements apply even when you have terminated your relationship with Hata. We reserve the right to keep such information and documentation for the required period and you accept and agree that information and documentation you provide to Hata may be retained by us, including following the closure of your Hata Account.

The Hata Wallet

The Hata Wallet allows you to send, receive and store cryptocurrency (together, “Hata Wallet Transactions”)

Supported Cryptocurrencies. The Hata Wallet is only available in relation to the cryptocurrencies that Hata, in its sole discretion, decides to support (“Supported Cryptocurrency” or “Supported Cryptocurrencies”). Information about the Supported Cryptocurrencies can be found on the Supported Cryptocurrency page on the Hata website.

The Supported Cryptocurrencies may change from time to time. Under no circumstances should you attempt to carry out a Hata Wallet Transaction in relation to a cryptocurrency other than a Supported Cryptocurrency. In particular, but without limiting the generality of the foregoing, you accept and agree that you will have no access, entitlement or claim:

• to any cryptocurrency sent to a receive address associated with your Hata Wallet where that cryptocurrency is not a Supported Cryptocurrency; or
• to any cryptocurrency sent to a receive address associated with your Hata Wallet, where that receive address is associated with another cryptocurrency. For example, you will have no access, entitlement or claim to any Bitcoin Cash (BCH) sent to a Bitcoin (BTC) receive address.

Ownership of Cryptocurrency held in Hata Wallets. Legal ownership of cryptocurrency held in a Hata Wallet shall remain with you, the user, at all times, and shall not pass or be transferred to Hata. As the owner, you bear the risk and enjoy the benefits associated with owning such cryptocurrency. In the unlikely event that Hata should become subject to insolvency proceedings, neither Hata nor any third party creditors shall have any claim against cryptocurrency held on behalf of our customers.

Omnibus Wallets. Hata may use shared blockchain addresses that are controlled by Hata, to hold your Supported Cryptocurrency or a portion thereof on your behalf. Although we maintain separate accounts and records for each Hata Account, Hata shall have no obligation to create a segregated blockchain address for Supported Cryptocurrency held on behalf of customers, unless required to do so by applicable laws.

Control of Supported Cryptocurrency. Subject to applicable laws (including, without limitation, Anti Money-Laundering laws, and our internal policies), you acknowledge and agree that you, as the user and customer, exercise control over all Supported Cryptocurrency held in your Hata Wallet(s) since you may at any time (subject to outages, downtime, and other applicable policies) withdraw your Supported Cryptocurrency by instructing Hata to transfer such Supported Cryptocurrency to a different blockchain address, as detailed more fully in section 17 below (see Transactions on Cryptocurrency Networks).

Supplemental Protocols Excluded. Unless specifically announced on the Hata Site or other official public statement of Hata, Supported Cryptocurrencies exclude all other protocols and/or functionality which supplement or interact with the Supported Cryptocurrency. This exclusion includes (without limitation): metacoins, colored coins, side chains, or other derivative, enhanced, or forked protocols, tokens, or coins or other functionality, such as staking, protocol governance, and/or any smart contract functionality, which may supplement or interact with a Supported Cryptocurrency. You acknowledge that you should not use your Hata Account to attempt to receive, request, send, store, or engage in any other type of transaction or functionality involving any such protocol as Hata is not configured to detect, secure, or process these transactions or functionality. Any attempted transactions in such items will result in loss of the relevant item. You acknowledge and agree that supplemental protocols are excluded from Supported Cryptocurrency and that Hata shall bear no liability for any losses related to supplemental protocols.

Local Currency in your Hata Wallet. Local Currency deposited into your Hata Wallet (see Deposits) is solely for (1) the purchase of Supported Cryptocurrencies and/or (2) Withdrawal to an approved bank account (see Withdrawals). You accept and agree that any such purchase will be subject to these Terms. Proceeds from the sale of Supported Cryptocurrencies will be credited to your Local Currency Hata Wallet, less any applicable fees (as explained in Fees, and on the Fees page of the Hata website). Hata does not pay interest on Local Currency or Supported Cryptocurrency balances held in your Hata Wallet.

Transaction instructions. Hata will process Hata Wallet Transactions according to your instructions. You accept and agree that Hata does not:

• guarantee the identity of any user, receiver, or other party to a Hata Wallet Transaction. You are solely responsible for ensuring all transaction details are correct, and you should carefully verify all transaction information prior to submitting transaction instructions to Hata;
• have any control over, or any liability in relation to, the delivery, quality or any other aspect of any goods or services that you may buy from or sell to any third party. Hata shall not be responsible for, and will take no action in relation to, ensuring that any buyer or seller you transact with using your Hata Wallet completes the relevant transaction or has the requisite authority to do so.

If you have insufficient cryptocurrency or fiat currency in your Hata Account to effect a Hata Wallet Transaction (i.e. you have less than the required amount to settle the Hata Wallet Transaction and to pay all fees associated with the Transaction), then we have the right to refuse to effect a Hata Wallet Transaction. Hata may also refuse to act on instructions to the extent permitted by these Terms. It is your responsibility to hold sufficient cryptocurrency or fiat currency credited in your Hata Account.

Accuracy of transaction instructions. You are solely responsible for ensuring the accuracy and completeness of all information entered when initiating any Hata Wallet Transaction, including without limitation any destination address, network selection, amount, tag/memo, or any other required fields.
You acknowledge that:

• blockchain transactions are irreversible once submitted to the relevant network;
• any error, omission, or inaccuracy in transaction details may result in permanent loss of cryptocurrency, material delays in allocation, or failed transactions; and
• Hata has no obligation to compensate you for any loss arising from incorrect
  transaction details provided by you, nor is Hata required to recover or attempt to recover any cryptocurrency resulting from such errors.
  

Receiving cryptocurrency. You may receive Supported Cryptocurrency into your Hata Wallet by providing the sender with a receive address generated in your Hata Wallet. Your Hata Wallet will only be credited with Supported Cryptocurrency sent to a receive address generated through your Hata Wallet and associated with that Supported Cryptocurrency. For example, your Hata Wallet will be credited with ETH when it is sent to an ETH receive address generated through your Hata Wallet.

Funds received in error. In the event you know, suspect, or should reasonably know or suspect that any Local Currency or cryptocurrency has been credited to your Hata Wallet (or to any bank account) in error, you must immediately notify Hata of the error by submitting a ticket through the Help Centre. You accept and agree that you have no claim or entitlement to any Local Currency or cryptocurrency received in error, and must immediately return such funds in accordance with the instructions received from Hata.

Funds sent in error. In the event of an incorrect network send of cryptocurrency by you to your Hata account, Hata will not support any clawback or retrieval process of the cryptocurrency. However, upon request, Hata may, at its discretion, facilitate the return of such funds. This facilitation shall be subject to a processing fee of USD 50, which shall be deducted from the returned funds or charged separately to the requesting party. The processing fee covers administrative costs incurred in verifying and processing the return transaction.

Supported Tokens and Networks. In the event you incorrectly send cryptocurrency to your Hata account, you acknowledge that Hata will only attempt to facilitate the recovery of assets that are both:

• supported Cryptocurrencies listed on Hata’s Supported Cryptocurrency page on the Hata website; and
• sent via an incorrect but recognised network that Hata supports for the relevant Supported Cryptocurrency.

Hata will not attempt to recover, and has no ability or obligation to recover:

• any cryptocurrency that is not a Supported Cryptocurrency;
• any cryptocurrency sent via an unsupported or unrecognised network;
• any asset sent to an incompatible deposit address.

Any recovery request is processed strictly on a reasonable-effort basis, subject to technical feasibility, operational constraints, and a processing fee (as stated in these Terms). Hata provides no guarantee that any recovery attempt will be successful, and you acknowledge that recovery attempts may not be possible in many circumstances.

Cryptocurrency receive tag or memo. In the event that a sender fails to include the required destination tag or memo needed to receive cryptocurrency into the customer’s Hata wallet, Hata reserves the right to charge a processing fee for the allocation of the deposit to your Hata account. This fee will be applied as necessary to cover the costs associated with processing and allocating the deposit.

Crypto send restrictions. To mitigate the heightened risk of financial scams targeting elderly individuals, Hata implements additional safeguards for customers aged 55 years and above. If you are 55 years of age or older at the time of onboarding, the ability to send cryptocurrency from your Hata Wallet (“Crypto Sends”) will be disabled by default.

Users may elect to enable or disable the Crypto Sends lock in your Hata Account settings, subject to a 24-hour cooling-off period before the lock is lifted.

Hata strongly encourages all users to remain vigilant against scams and unauthorised inducements. For further information on common scam typologies and protective measures, please refer to Hata’s FAQ page.

Deposits

Where your identity has been verified (in accordance with the Identity Verification requirements), you may deposit Local Currency into your Hata Wallet by depositing funds into a Hata bank account (a “Deposit”). The Hata bank account into which you make a Deposit will be a segregated account used exclusively for the purpose of holding and processing customer funds. Subject to these Terms, you retain a right to any funds you deposit into the Hata bank account until such time as your funds are used or withdrawn.

Details of the Hata bank account into which you must make the Deposit will be provided to you by Hata, and any such bank account will be held and operated by Hata. You accept and agree that any information you provide to Hata will be used to process Local Currency transactions in accordance with Hata’s instructions.

For the payment methods supported, please see the Fees page of the Hata website (for the purposes of these Terms, the “Supported Deposit Methods”). Where you have made a Deposit using a Supported Deposit Method, and have adhered to the Deposit Requirements (explained below), your Deposit will be allocated to your Hata Wallet.

Due to legal and operational constraints, you must strictly adhere to the following Deposit requirements (the “Deposit Requirements”):

• you may only Deposit Local Currency using a Supported Deposit Method compatible with the deposit methods available to you;
• you may only make Deposits denominated in the Local Currency associated with your Hata Wallet. For example, if you have a USD wallet, you must only make Deposits in US Dollars. Vice versa, if you have a MYR wallet, you must only make Deposits in Malaysian Ringgit;;
• where you make a Deposit using a credit or debit card, you authorise Hata to facilitate the debiting of the funds from your bank account in order to complete the Deposit;
• you must not use cash or cheques to make a Deposit. Hata reserves the right to refuse any Deposit made by cash or cheque. Should Hata decide, in its sole discretion, to allow a Deposit by cash or cheque on an exceptional basis, the allocation of such Deposit will be delayed to allow fraud and compliance checks to take place, and a Cash Deposit Penalty may be deducted from it. Any Hata Account that receives more than one cash or cheque deposit may, at Hata’s sole discretion, be suspended indefinitely.

You agree to abide by the Deposit Requirements and agree and accept that failure to do so may cause delay in or failure of any Deposit reflecting in your Hata Wallet, and/or restriction, suspension or termination of your Hata Account.

Allocation of deposits. When you request to make a Deposit through your Hata Wallet, you will be provided with a Reference Number and/or Unique Deposit Amount. To permit timely and successful allocation of a Deposit to your Hata Wallet, you must use the Reference Number and/or Unique Deposit Amount when you make a deposit using a Supported Deposit Method. Hata will not be responsible for any delay in or non-allocation of Deposits to your Hata Wallet where you fail to specify the required Reference Number and/or Unique Deposit Amount.

Deposits may take time to reflect in your Hata Wallet due to bank processing times, operational processes, and/or failure by you to adhere to the Deposit Requirements. Under no circumstances will Hata have any liability to you in relation to any delay in or failure of a Deposit reflecting in your Hata Wallet.

Hata will make all reasonable efforts to allocate Deposits that do not meet the Deposit Requirements. However, any Deposits less than the Minimum Unallocated Deposit Amount that cannot be allocated within a one month period will be retained by Hata and you accept and agree that you shall have no further claim or entitlement to such funds. The Minimum Unallocated Deposit Amount shall until otherwise determined by Hata be USD10.00 or the equivalent in your Local Currency.

Third-party deposits. You may only make a Deposit from a Supported Deposit Method held in your own name. You must not make, permit, or facilitate any Deposit into your Hata Wallet from any third party, nor may you receive or accept any Deposit that you know, suspect, or ought reasonably to know originates from a third party.

Where Hata identifies or reasonably suspects that any deposit constitutes a third-party deposit (“Third-Party Deposit”), you accept and agree that:

• No allocation will be made to your Hata Wallet and the amount will remain unallocated at all times;
• Such unallocated funds will be maintained in a separate ledger account within Hata’s customer funds environment (“Unallocated Deposit Account”). For the avoidance of doubt, this is not a custodial arrangement in your favour and does not confer any proprietary or trust interest on you.
• You must immediately notify Hata upon discovering that you have received or may have received an unrecognised Deposit. You acknowledge that any such funds do not belong to you, and you have no claim or entitlement to them;
• At your request, Hata may, but is not obliged to, refund the Third-Party Deposit to the originating account, subject to:
  • a minimum refundable amount of RM2.00 (or equivalent in Local Currency);
  • Any administrative, banking, or processing fees determined by Hata in its sole discretion; and
  • satisfactory completion of AML/KYC verification of the originating account.
• If the Third-Party Deposit is below the minimum refundable amount, you accept that Hata may not process such a refund request.

Withdrawals

Where you have added your bank account details to your Hata Account, you may withdraw funds from your Hata Wallet to your bank account (a “Withdrawal”). Hata will process Withdrawals in accordance with your instructions. You are solely responsible for ensuring that any Withdrawal instructions provided to Hata, including the relevant bank account number, are complete and correct and you accept and agree that under no circumstances will Hata be under any obligation to reverse or amend any Withdrawal.

Hata will make all reasonable efforts to process Withdrawals each business day, in accordance with the Deposit and Withdrawal Schedule on the Hata website, but you accept and agree that Hata provides no guarantee in relation to the Withdrawal processing period. Hata may not process a Withdrawal request if, in Hata’s reasonable opinion, we consider that the execution of the relevant Withdrawal is restricted by applicable laws. Hata may also suspend withdrawals at such time deemed appropriate by Hata to resolve any incidents on the Hata Platform. Once such incidents have been resolved, Hata will resume Withdrawals.

Withdrawals to the bank account of any third party are expressly prohibited. You agree not to make, or attempt to make, any Withdrawal of funds from your Hata Wallet to the bank account of a third party. You acknowledge that any Withdrawal attempt may be refused and/or could result in the restriction, suspension or termination of your Hata Account.

The Hata Exchange

The Hata Exchange is an order book exchange platform for cryptocurrencies that is intended for use by customers with experience in and/or knowledge of similar platforms (“Hata Exchange”). Any person using the Hata Exchange does so entirely at their own risk.

The Hata Exchange is not offered to customers in all jurisdictions. This section of the Terms applies to you if you access and/or use the Hata Exchange.

In accessing and/or using the Hata Exchange for any purpose, you agree and accept that:

• all trades executed on the Hata Exchange are executed automatically, based on the parameters of your order instructions, and cannot be reversed. In the case of technical issues affecting Hata’s internal systems, Hata may, where possible and in its sole discretion, take steps to reverse or otherwise amend a trade;
• all trading on the Hata Exchange is subject to Hata’s fee structure, as set out on the Fees page of the Hata website. By using the Hata Exchange, you accept and agree to all applicable fees;
• Hata makes no guarantee that the Hata Exchange will be available without interruption; that there will be no delays, failures, errors, omissions or loss of transmitted information; or that any order will be executed, accepted, recorded, or remain open.

Hata may, at any time and in our sole discretion, refuse any trade, impose limits on the trade amount permitted, or impose any other conditions or restrictions upon your use of the Hata Exchange that we deem necessary. We may, for example, limit the number of open orders that you may establish or restrict trades from certain locations. Hata reserves the right to take such action without prior notice.

Circuit Breaker

Hata has implemented a circuit breaker on the Hata Exchange (the “Circuit Breaker”). You agree and accept that:

• In the event of significant volatility, a circuit breaker will be triggered. Any trades you make when the circuit breaker has been triggered will move to post-only mode until the volatility has passed.
• In post-only mode, you cannot submit market orders.
• In post-only mode, you may cancel existing orders and submit post-only limit orders.

Order Expiry. You acknowledge and agree that any open order placed on the Hata Exchange will automatically expire and be cancelled if it remains unexecuted for more than 90 calendar days from the time it was created. Hata shall have no liability for any loss, opportunity cost, or market movement associated with the expiration or cancellation of such orders.

Instant Buy or Sell (or known as Digital Broker)

Hata Wallet holders may use the Instant Buy or Sell service to buy or sell a chosen amount of Supported Cryptocurrency at the quoted exchange rate.

In using the Instant Buy or Sell service, you accept and agree that:

• When you make an instant buy or sell order, Hata will match your order with open orders on the Hata Exchange or other cryptocurrency exchanges available to us. Hata will facilitate the trade, in accordance with your instructions;
• Hata is not acting as your agent, adviser or in any fiduciary capacity and no information or communication provided to you by Hata in relation to an instant buy or sell transaction will constitute as an advice;
• When you place an order to buy or sell Supported Cryptocurrency, we will provide you with a quoted exchange rate. Hata is unable to, and will not, specify the percentage of the quoted exchange rate that reflects Hata’s facilitation of the relevant trade, as it will vary with market conditions. The quoted exchange rate may differ from rates seen elsewhere on the Hata Site, or on external sources, and you acknowledge that the quoted exchange rate is the rate that will apply to your order;
• By proceeding with your instant buy or sell transaction, you confirm that you accept the quoted exchange rate, including its components;
• A volume limit per transaction will apply to any instant buy or sell order (see the Fees page of the Hata website); and
• Hata does not guarantee the availability of, or that there will be no delays or interruptions in or to, the instant buy or sell service.

Before confirming any instant buy or sell transaction, you must ensure that the amount of Supported Cryptocurrency to be bought or sold is correct and that you agree to the quoted exchange rate. Hata cannot reverse an executed order.

Hata reserves the right to delay or refuse any instant buy or sell transaction if, in our sole discretion, we perceive there to be a risk of fraud or illegal activity, or where we have reasonable grounds on which to suspect an error may have been made. Hata shall have no liability to you in connection with any delay in or non-completion of an instant buy or sell transaction.

OTC Platform

Hata Wallet holders may use our OTC service to obtain private and personalised service from Hata Global’s OTC service to trade large sums of Supported Cryptocurrency quickly at market price.

Our Role. We will work with users on a reasonable effort basis to facilitate users’ entering into OTC transactions. You acknowledge and agree that we act as principal on our own account when engaging with you. We are not acting as your broker, intermediary, agent or advisor in any fiduciary capacity in any OTC transactions. We make no warranty about the suitability of any cryptocurrencies for trading or ownership by you.

General. We may provide you with OTC services where certain criteria are met (in our sole discretion), including fiat and cryptocurrency trading pairs, and minimum and maximum transaction amounts (which we may set or amend from time to time). We may only provide you with access to OTC transactions in cryptocurrencies that we support from time to time (which may be subject to change in our sole discretion). We are not liable to you for any losses associated with not supporting any particular cryptocurrencies.

We may at any time with or without cause or prior notice, limit, suspend, or terminate your access to our OTC service.

Prefunding. We will require you to prefund an OTC transaction by depositing nominated fiat currency or cryptocurrencies to your Hata Wallet (for purchasing cryptocurrencies) or our Hata’s own wallet (for selling cryptocurrencies) as may be applicable. You may request the return of prefunded fiat currency or cryptocurrencies within our business hours before an OTC transaction is accepted by the user. We may decline a request for quote or cancel an OTC transaction if users do not provide appropriate prefunding within a reasonable time.

Request for Quote. Users may submit a request for an OTC transaction quote through Hata’s OTC communication channels. We provide no representation as to the accuracy or fitness for the purpose of these channels. We are not responsible for any loss incurred by users arising out of or in connection with your use of any of our communication channels. We may in our sole discretion agree or decline to process a request for a quote. If we agree to process a request for a quote, that does not oblige us to enter into any OTC transaction.

Pricing. Upon receipt of a request for quote that we agree to process, we will provide users with a price (denominated in fiat currency or cryptocurrencies) for the requested OTC transaction. Prices will consist of either or both a bid price and an offer price. Prices are proprietary in nature and so the prices made available by us may differ to prices provided by other providers. Prices are subject to constant change and we will aim to provide prices that are up-to-date. We will determine how long prices remain valid in our sole discretion, and a trade instruction submitted in relation to a price that is no longer valid will be rejected by us.

Order Execution. Upon receipt of a quote from us, users may accept or reject such quote within a stipulated time period that will be communicated to the user once a quote is generated. Upon acceptance of a quote, we will proceed to process the OTC transaction based on users’ instructions, and users will thereon not be able to withdraw, cancel, or amend their instructions.. You also acknowledge that we may use external liquidity, internal inventory, or a combination of both in connection with an OTC transaction. We will notify you of the execution of an OTC transaction through any of our communication channels. Any failure or delay in providing notification does not affect the validity of such OTC transaction. You must promptly contact us if you do not receive any notification or confirmation after a reasonable time.

If we determine that a price communicated to you included an obvious error, we have the right to cancel or amend the OTC transaction by notice to you at any time prior to execution of the OTC transaction

Settlement. Unless otherwise agreed, an executed OTC transaction will be settled instantaneously. Delays may arise in the transfer of fiat currency or cryptocurrencies as a result of issues with external systems, digital asset networks or banking rails. We are not responsible for any delays in the transfer of fiat currency or cryptocurrencies.

Transaction Errors. In the absence of fraud, we are not liable to users for any losses suffered by users in connection with any error in the OTC transaction (whether direct or indirect, special or consequential, including loss of profit, loss of opportunity, and even if we had been advised of the possibility of the same arising or that the same were reasonably foreseeable).

Fees

The fees applicable to transactions undertaken on the Hata Site can be viewed on the Fees page of the Hata website. Hata reserves the right to change our fees at any time and will update the Fees page accordingly. In certain circumstances, and at our sole discretion, Hata may notify selected customers of a specific fee change, where we consider a change to be of particular relevance to such customers.

Send and Receive fees. You may be charged a fee to send Supported Cryptocurrency from your Hata Wallet and/or to receive Supported Cryptocurrency into your Hata Wallet. Fees will apply where Supported Cryptocurrency is sent to or received from a Supported Cryptocurrency address (e.g. a Bitcoin address). Please see the Fees page of the Hata website for further information on send and receive fees.

Deposit and Withdrawal fees. All Withdrawals from your Hata Wallet will incur a fee. Such fees differ by country and are set out on the Fees page of the Hata website. Some Deposits made using a Supported Deposit Method may incur a fee, as set out on the Fees page. Such fees will be displayed in your transaction history upon completion of the transaction.

Instant Buy and Sell fees. The quoted exchange rate in relation to any buy or sell order placed using the Instant Buy and Sell service will include an amount to reflect Hata’s facilitation of the relevant trade, the percentage of which will vary with market conditions (see Digital Broker).

Trade fees. Hata applies a maker / taker fee structure for customers using the Hata Exchange, which is explained in the Hata Help Centre. Please consult the Fees page of the Hata website for further information on applicable Maker and Taker fees. Hata will, at the time of any transaction on the Hata Exchange, notify you of any fees that will apply to the transaction. By proceeding with any transaction, you accept and agree to the applicable fees. Such fees will also be displayed in your transaction history upon completion of the transaction.

Account Security

Hata takes security very seriously and the measures we have in place to protect your Hata Account are explained on the Security page of the Hata website. However, you are solely responsible for:

• maintaining adequate security and control over your Hata Account sign-in details, including but not limited to any passwords, personal identification numbers (PINs), API keys, or any other codes associated with your Hata Account (“User Credentials”);
• enabling any additional security features available to you, including without limitation the activation of two factor authentication on your Hata account (see the Hata Help Centre), installing and regularly updating browsers, security patches, antivirus, anti-malware, and other relevant software in your devices and systems;
• keeping your contact details up to date so that you can receive any notices or alerts we may send to you in relation to security (see Electronic Communications);
• maintaining security and control over the email mailbox, mobile number and two-factor authentication applications or devices associated with your Hata Account; and
• notifying Hata immediately through any channel prescribed by Hata in the event that (i) you lose your User Credentials; (ii) your User Credentials have been disclosed to third parties or have been otherwise compromised; (iii) you reasonably suspect any unauthorised use of your User Credentials.

Failure to take the above measures, and any other security measures available to you, may result in unauthorised access to your Hata Account and the loss or theft of any cryptocurrency and/or Local Currency balances held in your Hata Wallet or any linked bank account(s) and/or saved credit or debit card(s). Hata shall have no liability to you for or in connection with any unauthorised access to your Hata Account, where such unauthorised access was due to no fault of Hata, and/or any failure by you to act upon any notice or alert that we send to you.

Where the Hata Platform is accessed by the correct entry of a user’s User Credentials, the relevant user shall be deemed to have accessed the Hata Platform. You shall be responsible and liable for all actions through such access by an Authorised User to access the Hata Platform on your behalf. Hata shall not be obliged in any manner to investigate or take any other step to verify the identity of any user or Authorised Individual. Hata shall not be liable for any loss that you may incur as a result of someone else using your User Credentials or Hata Account, either with or without your knowledge. Upon Hata being notified by a user of unauthorised access and/or the compromised security of a user’s User Credentials, Hata shall disable the relevant User Credentials and block access to the Hata Platform as soon as reasonably practicable.

The security of your Hata Account may be compromised, or interruption caused to it, by phishing, spoofing or other attack, computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment. Hata strongly recommends that you regularly use reputable virus screening and prevention software and remain alert to the fact that SMS, email services and search engines are vulnerable to spoofing and phishing attacks.

Care should be taken in reviewing messages purporting to originate from Hata and, should you have any uncertainty regarding the authenticity of any communication, you should log in to your Hata Account through the Hata website (specifically, https://hata.io/, and not any other domain name or website purporting to be, or to be related to, Hata) to review any transactions or required actions.

To the maximum extent permitted by applicable law, you accept and agree that you have full responsibility for all activity that occurs in or through your Hata Account and accept all risks of any unauthorised or authorised access to your Hata Account.

Private keys. Hata securely stores all Supported Cryptocurrency private keys (“Private Keys”) associated with any Hata Account. You accept and agree that Hata shall retain full ownership and control of the Private Keys associated with your Hata Account and that you shall have no control of, access to, or the ability to use, such Private Keys. For example, but without limiting the generality of the foregoing, Hata will not:

• accept or adhere to any instruction to sign any data with a Private Key;
• give access to any funds associated with your private keys, other than those of the Supported Cryptocurrency associated with your cryptocurrency wallet;
• allow the creation of any receive addresses associated with a Private Key other than receive addresses created through your Hata Wallet. Hata will not credit to your Hata Wallet any cryptocurrency associated with a Private Key other than where such funds have been received via a receive address generated through your Hata Wallet.

Authorised Users

You and your Authorised User(s) acknowledge that they have received and accepted these Terms. To authorise another person to act on your behalf, you must provide explicit written consent detailing the extent of your Authorised User’s authority, which may include executing transactions, accessing account information, or managing your cryptocurrencies. When applying for any Authorised User to receive access to the Hata Platform on their behalf, you acknowledge and represent that the Authorised User is duly authorised to (i) access and use the Hata Platform on the your behalf and if applicable, to exercise the same powers conferred by you on the Authorised User in accordance with any underlying power of attorney or other document to the same extent as is technically feasible; (ii) accept any changes or amendments to these Terms on your behalf; and (iii) apply or subscribe to any of Hata Platform’s services that require separate application or subscription.

You shall procure that each Authorised User acting on your behalf is informed of and agrees to and complies with these Terms and as may be applicable, the terms of any third party service providers. You shall be fully liable for all acts or omissions or non-compliance of your designated Authorised User in the access and use of the Hata Platform, as well as any transactions conducted through your Hata Account.

You agree to fully indemnify Hata and our affiliated subsidiaries and affiliates (as may be applicable), officers, directors, employees, agents, and representatives against any liabilities, costs, claims, losses, expenses (including but not limited to legal fees) and damages arising out of or relating to (i) a breach of these Terms by their Authorised User; and (ii) any claim or action by their Authorised User against Hata.

You represent, undertake, and confirm that you have procured the consent of your Authorised User(s) to the collection, use, transfer, disclosure, and processing of such Authorised User(s)’ personal information in accordance with these Terms.

Service availability

While we will do everything we can to provide continuous operations, Hata does not provide any warranty in relation to the availability of the Hata Site or your Hata Account. Without limiting the generality of the foregoing, we do not guarantee continuous access to the Hata Site or your Hata Account and make no representation that the Hata Site, Hata API, your Hata Account and/or any products or services offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions or loss of transmitted information.

Transactions on cryptocurrency networks

When you use your Hata Account to send or receive cryptocurrency, the transaction must be confirmed and recorded in the public ledger associated with the relevant cryptocurrency network (e.g. the Bitcoin network or the Ethereum network). That cryptocurrency network is solely responsible for verifying and confirming any such transactions. Hata cannot confirm, cancel or reverse transactions on a cryptocurrency network, other than confirming to you that the network has completed the transaction. You accept and agree that:

• Once submitted to a cryptocurrency network, a transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the network. A transaction is not complete while it is in a pending state. Funds associated with transactions that are in a pending state will be designated accordingly, and will not be included in your Hata Wallet balance or be available to you to conduct transactions;
• When you send cryptocurrency from your Hata Account, you are authorising us to submit your transaction request to the relevant cryptocurrency network. Once a transaction request has been submitted to the relevant cryptocurrency network, the network will automatically complete or reject the request and neither you or Hata will be able to cancel or otherwise modify your transaction.
• Cryptocurrency networks are operated by decentralised networks of independent third parties. They are not owned, controlled or operated by Hata so we cannot ensure that any transaction details you submit will be confirmed by the relevant cryptocurrency network. You agree that any transaction details you submit may not be completed, or may be substantially delayed, by the cryptocurrency network used to process the transaction.

Network protocols and operating rules. The underlying software protocols that govern the operation of the Supported Cryptocurrencies are open source. Accordingly, anyone can use, copy, modify, and distribute them and Hata has no ownership of or control over these protocols. By using the Hata Site, you accept and agree that:

• Hata is not responsible for the operation of any cryptocurrency network’s underlying software protocols and makes no guarantee as to their availability, security, or functionality;
• the underlying software protocols are subject to sudden changes in operating rules (known as “forks”), and that such forks may materially affect the value, function, and/or name of any cryptocurrency you store in your Hata Account. Should a fork occur, Hata may, with or without notice to you, temporarily suspend our operations and, in our sole discretion, decide whether or not to support either branch of the forked protocol entirely; and
• in the event Hata decides not to support a branch of a forked protocol, you will not be given access to the assets on that fork. Those assets will be securely held by Hata and we will not buy or sell them.

Provision of Material and Information

By choosing to use the Hata Platform, you acknowledge that:

• Hata is NOT under any obligation whatsoever to accede to the User’s request to provide any offering material, term sheet, market data, research report, product or service documentation or any other type of similar information provided through the Hata Platform (“Materials”) on any of our products and/or services;
• any Material, if provided, was provided for you only and is not to be further distributed without Hata’s prior written consent;
• none of the Materials, where provided directly to you or through the Hata Platform, constitutes our recommendation or solicitation that you enter into any particular transaction or that any particular transaction is suitable or appropriate for you;
• that Hata has no duty or obligation to verify, correct, complete or update any Material displayed on the Hata Platform. Materials, including without limitation, market data, price quotations, news and research, may be prepared by information providers that are independent of us. We do not warrant that the Materials may be accurate, complete or refreshed in a timely manner. You should conduct further research and analysis or consult an investment advisor before making investment decisions. Any use of or reliance on Materials by you is at your own risk. We are not obligated to inform you of technical difficulties experienced by us concerning access to the Hata Platform.

Information regarding your balance and the status of your Hata Account is available to you in electronic format for viewing anytime (subject to down times) at the Hata Platform. You may review online all transactions, including pending orders, positions, deposits and withdrawals that have taken place in the previous one year or such other time as Hata may determine from time to time. You may request to receive a receipt, trade ticket, or other evidence of a transaction. Nothing in the transaction history should be treated as a valuation. You acknowledge that errors may sometimes occur and that such errors do not impact the actual means and results of a given transaction. Any transaction listed in the statement or other communication with you shall be deemed and treated as authorised, correct, approved, and confirmed by you unless we receive a written notice from you to the contrary within three (3) calendar days from the date the communication was sent or posted on the Hata Platform.

The content and information displayed through the Hata Platform relating to products and services may not be eligible for sale or available to residents of certain nations or certain categories of investors due to regulatory restrictions.

Market Makers

We may engage one or more market makers, who may also be affiliated with us, to act as liquidity providers on the Hata Exchange. You understand and agree that such market makers may be entitled to terms or rates that are preferential to you due to the services that they offer.

Account inactivity

Local Currency deposited into your Hata Wallet may only be used for the purchase of Supported Cryptocurrencies and/or Withdrawal to an approved bank account (see The Hata Wallet). You must not use your Hata Wallet for the purpose of storing Local Currency. Where any Local Currency in your Hata Wallet is not used for a period exceeding six months, Hata may charge and obtain from you an Inactivity Fee of USD 2.00 per month (or the equivalent in your Local Currency), which shall be collected from the Local Currency held in your Hata Wallet. Should we have reasonable grounds on which to suspect you are using your Hata Wallet primarily for the purpose of storing Local Currency, Hata reserves the right to restrict, suspend or terminate your Hata Account.

Unclaimed property. In the event any funds are held in your Hata Wallet(s) and Hata has no record of any use of your Hata Account for several years, and we are unable to contact you, the law in your jurisdiction may require us to report and deliver such funds to the relevant authorities as unclaimed property. To the extent permitted by applicable law, Hata reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds.

Closure of your account

Your right to close your Hata Account. You may close your Hata Account by submitting a closure request via the Help Centre. Hata will action such requests once (i) the sum of all Local Currency and cryptocurrency balances in your Hata Wallet(s) is below the Minimum Closure Amount; and (ii) no transactions have taken place in your Hata Account for a period of at least 30 days. Such requirements are designed to protect you from loss and Hata will not action a closure request until they are satisfied.

You accept and acknowledge that, once your Hata Account is closed:

• you will have no further access to it;
• Hata will be under no obligation to notify you of, or provide to you, any cryptocurrency sent to any receive address associated with your Hata Account; and
• Hata reserves the right (but has no obligation) to delete all of your information and account data stored on our servers, and also reserves the right to retain any information that is required for legal or operational reasons.

If at the date of closure of your account any Local Currency or cryptocurrency remains in your Hata Wallet(s) (i.e. funds amounting to less than the Minimum Closure Amount), you accept and agree that Hata shall retain such funds and that you shall have no further claim to them. The Minimum Closure Amount shall be USD10.00 or the equivalent in your Local Currency.

You accept and agree that Hata shall not be liable to you or any third party in relation to the closure of your Hata Account, the termination of access to your Hata Account, or for the deletion of your information or Hata Account data.

In certain cases, you may not be able to close your Hata Account, including where:

• you are trying to evade an investigation by relevant authorities;
• you have a pending Hata Wallet Transaction or an open dispute;
• your Hata Account has any outstanding amounts owed to us; or
• your Hata Account is subject to a freeze, hold, limitation, or reserve.

Our right to close your Hata Account. We may close your Hata Account for any reason at any time. In most circumstances, we will give you 30 calendar days’ notice in advance of closing your Hata Account and the reason(s) for such closure. However, there could be circumstances where we are entitled or required to close your Hata Account and the reason without giving you notice or telling you of the reasons for the closure. This may include where we exercise our right to terminate in accordance with these Terms.

What happens when we close your Hata Account. If we decide to close your Hata Account, you will be required to withdraw all fiat currencies and cryptocurrencies held in your Hata Account and cease using our services. In the event that you fail to do so, we may in our absolute discretion, and without further notice to you:

• mark your Hata Account as a dormant account after 24 consecutive months of inactivity (i.e. no deposits, withdrawals, or trading activity);
• close any open positions;
• convert the cryptocurrencies in your Hata Account to a different type of cryptocurrency. In doing so, we will not be liable for any loss of profit, tax obligations, or any other loss, damage or expense incurred by you resulting from such conversion;
• transfer a dormant account (including any cryptocurrencies in the dormant account) to another Hata affiliate, third-party custodian, or an isolated wallet where we consider it reasonably necessary to do so. If this happens, you have the right to retrieve your cryptocurrencies, subject to satisfying our reasonable verification requirements;
• charge a dormant account fee to cover the cost of maintaining the cryptocurrencies with any Hata affiliate or any third party, with such fee to be withdrawn directly from the dormant account on a monthly basis; and
• close a dormant account at any time.

After a dormant account is closed, it cannot be reactivated and you will need to register for a new Hata Account by reaching out to our customer support team if you wish to continue using our services. You acknowledge that we will be under no obligation to pay any reward, incentive or interest which we might otherwise have agreed to pay, under any applicable product terms, to your dormant account in relation to the cryptocurrencies credited to it.

Should you wish to reactivate your account, you will be required to pre-fund your new account with at least USD25 or such other amount as Hata may determine.

Restriction, suspension and termination

Hata reserves the right to restrict, suspend or terminate your Hata Account where:

• we believe that it is necessary or desirable to protect the security of your Hata Account;
• we reasonably suspect your Hata Account to be the subject of an operational or other error, in which case we may be required to suspend access to your account until such time as the error is rectified;
• we, in our sole and absolute discretion, deem the transactions made from your Hata Account to be in breach of these Terms (such as exploiting a flaw or vulnerability in our system) or in breach of the security requirements of your Hata Account;
• we reasonably suspect your Hata Account has been or is being used in relation to any unlawful, fraudulent or Prohibited Activity (see Prohibited Activities), or in breach of these Terms;
• we reasonably suspect you or your Hata Account is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime;
• we reasonably suspect that any cryptocurrencies or funds held in your Hata Account may be associated with criminal proceeds or otherwise are not lawfully possessed by you;
• we reasonably suspect that you, as the user, have become subject to proceedings involving, without limitation, insolvency, liquidation, winding up, bankruptcy, administration, receivership, or dissolution, or where we reasonably consider that there is a threat of you being subject to the above proceedings;
• we reasonably suspect you of taking any action that Hata considers to be a circumvention of Hata’s controls, including but not limited to opening multiple Hata Accounts;
• we reasonably suspect your involvement in any attempt to gain unauthorised access to any Hata Account;
• your Hata Account is or appears to be the subject of any legal, regulatory or government process and/or we, in our sole discretion, consider there to be a heightened risk of legal or regulatory non-compliance associated with your Hata Account;
• we are compelled to do so by a prima facie valid subpoena, court order, or other binding order of a government or regulatory authority;
• we reasonably conclude that you, or any person or geography with whom you transact, are/is subject to any governmental or international body sanctions, or where you, or any person or geography with whom you transact appears on a government or international body sanctions list;
• we are unable to verify or authenticate any information you provided;
• we, in our sole and absolute discretion, believe that your actions may cause legal liability for you, the Hata Platform, or other users of the Hata Platform; and
• there is a disruptive market event that triggers a trade halt, or we otherwise decide in our sole and absolute discretion that termination or suspension of your Hata Account, the Hata Platform, or these Terms are necessary.

Hata will make all reasonable efforts to provide you with notice of any decision to restrict, suspend or terminate your Hata Account, unless we are prevented from doing so by any legal or regulatory process or requirement, or where doing so may compromise Hata’s security and/or risk management procedures. You accept and agree that Hata is under no obligation to disclose to you the fact of or reason for any decision to restrict, suspend or terminate your Hata Account, and shall have no liability to you in connection with the restriction, suspension or termination of your Hata Account. Accordingly, if there is any ongoing transaction on your Hata Account that is subject to termination, Hata shall have the right to notify your transacting counterparty of the proposed termination.

You shall not attempt to regain access to the Hata Platform if your access has been terminated by us, whether by using the same or different username, without our prior written consent.

Unlawful possession. If we are informed or reasonably believe that any cryptocurrencies or fiat currencies held in your Hata Account are stolen or are otherwise not lawfully possessed by you (whether by error or otherwise), we may, but have no obligation to, place a hold on the affected funds and your Hata Account. Where we place a hold on some or all of any cryptocurrencies or fiat currencies held in your Hata Account or on your entire Hata Account, we may continue such hold until such time as evidence, acceptable to us, proves that you are entitled to possession of the cryptocurrencies and/or fiat currencies held in your Hata Account. We will not get involved in any dispute or resolution of such dispute, relating to any cryptocurrency and/or fiat currencies held in your Hata Account.

Account termination. Where Hata elects to terminate your Hata Account in accordance with the above, we shall (except where legally obligated not to) return your available cryptocurrency and/or Local Currency balances to you pursuant to the procedure set out below:

• Cryptocurrency. If you have an available balance of Supported Cryptocurrency in your Hata Account above the Minimum Threshold, we will liquidate the cryptocurrency and deposit the value realised from the liquidation into your Local Currency wallet. The Minimum Threshold is USD10.00, or its equivalent in any applicable Supported Cryptocurrency calculated on the day on which the liquidation is performed. We will not send your Supported Cryptocurrency to an alternative cryptocurrency wallet address. Any risk of a negative exchange rate fluctuation shall rest with you and you shall have no claim against Hata for any losses you may suffer as a result of the liquidation of your available balance of Supported Cryptocurrency.
• Local Currency. We shall return to you an amount no greater than the cumulative value of all Local Currency Deposits to your Hata Account, where applicable. Payment shall only be made to you following submission to us of valid bank account details in your name. We shall not transfer Local Currency to any bank account in the name of a third party.

Death of Account Holder. Should we receive legal documentation confirming your death or any other information leading us to believe that you have died, we reserve the right to restrict or suspend your Hata Account for security purposes and, during this time, for no transactions to be completed until such time as:

1. we receive instructions from your designated executor / fiduciary; or
2. we receive proof in a form satisfactory to us that you have not in fact died.

If we have reason to believe you may have died but we do not have proof of your death in a form satisfactory to us, you authorise us to make all inquiries as may be necessary, whether directly or through third parties, in order to ascertain whether or not you have died. Upon receipt by us of proof satisfactory to us that you have died, the executor / fiduciary that you have designated in a valid Will or similar testamentary document may instruct us in writing to:

1. sell the applicable cryptocurrency for Local Currency and withdraw that Local Currency to a bank account nominated in writing by the executor / fiduciary; or
2. transfer the applicable cryptocurrency to another cryptocurrency wallet nominated in writing by the executor / fiduciary.

If you have not designated an executor / fiduciary, then we reserve the right to treat as your executor / fiduciary any person who is entitled to inherit your Hata Account under applicable law. Hata reserves the right to demand all documentation that we, in our sole and absolute discretion, may deem necessary or appropriate in order to satisfy ourselves as to the identity and authenticity of such person, including (but not limited to) an order designating an executor / fiduciary from a court having competent jurisdiction over your estate. In the event that we determine, in our sole and absolute discretion, that there is uncertainty regarding the validity of the executor / fiduciary designation, then we reserve the right to require an order resolving such an issue from a court of competent jurisdiction before taking any action relating to your Hata Account.

Use of Hata API

This section applies to any use of Hata’s Application Programming Interface and any associated documentation or materials (together, the “Hata API”, see the Hata API page of the Hata website). Any use of the Hata API is subject to this section and, for the avoidance of doubt, the Terms in their entirety.

Any use of the Hata API is entirely at your own risk. It is your responsibility to keep any API keys, passwords or other credentials relating to your use of the Hata API secure, and you accept and agree that you take full responsibility for any and all requests made over the API, whether authorised by you or not.

Hata sets and enforces limits on your use of the Hata API (e.g. limiting the number of requests per second). You accept and agree that any circumvention of, or attempt to circumvent, these limits, or any use of the Hata API that may adversely affect other users of the Hata Site, may result in Hata, at its sole discretion, revoking your API access.

Where market data is provided to you through the Hata API, you are not permitted to redistribute or sell such data without the prior written consent of Hata.

Financial Advice

Under no circumstances does any information contained on the Hata Site, or provided to you through your Hata Account or by any employee, agent or affiliate of Hata, constitute financial, investment or other professional advice.

You are solely responsible for any decision to store, buy or sell cryptocurrency, and such decisions should take into account your risk tolerance and financial circumstances. For more information on the risks involved, see Risk warning page on the Hata website. You should consult your legal or tax professional in relation to your specific situation.

Taxes

You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through your Hata Account, and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.

Export Controls and Sanctions

Your use of the Hata Site is subject to international export controls and economic sanctions requirements. By undertaking any activity on the Hata Site or through your Hata Account, including but not limited to sending, receiving, buying, selling, storing or trading any cryptocurrency, you agree that you will at all times comply with those requirements. In particular, and without any limitation to the generality of the foregoing, you may not open, use, or have access to any Hata Account if:

• you are in or under the control of, or resident of, any country subject to United States embargo, UN sanctions, the HM Treasury financial sanctions regime, or if you are on the U.S. Treasury Department's Specially Designated Nationals List or the U.S. Commerce Department's Denied Persons List, Unverified List, Entity List, or HM Treasury's financial sanctions regime; or
• you intend to supply any acquired or stored cryptocurrency, or transact with people or businesses operating in any country subject to United States embargo or HM Treasury's financial sanctions regime, or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List, Entity List, or HM Treasury's financial sanctions regime.

Prohibited Activities

You must not use your Hata Account to undertake any of the activities or categories of activity set out in this section (each a “Prohibited Activity”):

• breach these Terms or any agreement entered into, or in connection with, these Terms;
• make any misleading adverse, critical or disparaging statements, allegations or comments (whether expressly or by implication) with respect to Hata or any Hata group company;
• use the Hata Platform in a manner that violates public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prevent others from using the Hata Platform;
• use the Hata Platform for resale or commercial purposes, including transactions on behalf of other persons or entities unless expressly agreed by us in writing;
• use the Hata Platform for market manipulation (such as pump and dump schemes, wash trading, self-trading, front running, quote stuffing, and spoofing or layering) regardless of whether prohibited by applicable laws;
• engage in any abuse of promotional events, as determined by us in our sole discretion;
• engage in fraudulent activities, or cause us to suspect that you are engaging in fraudulent activities and/or transactions;
• using your Hata Account, the Hata Site, or Hata Exchange to conduct lotteries, bidding fee auctions, sports forecasting or odds making, fantasy sports leagues with cash prizes, internet gaming contests, sweepstakes, or games of chance;
• (i) receive or attempt to receive funds from both us and another user for the same transaction during the course of a dispute; (ii) conduct your business or use our services in a manner that results in, or may result in complaints, disputes, claims, reversals, chargebacks, fees, fines, penalties or other liability to us, other users, third parties, or yourself; and (iii) allow your Hata Account to have a negative value or quantity of cryptocurrencies;
• provide false, inaccurate, or misleading information in connection with your use of our services, in communications with us, or otherwise connected with these Terms;
• (i) use any deep linking, web crawlers, bots, spiders or other automatic devices, programs, scripts, algorithms or methods or any similar or equivalent manual processes to access, obtain, copy or monitor any part of our Platform, or replicate or bypass the navigational structure or presentation of our services in any way in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided through our services; (ii) attempt to access any part or function of our Platform without authorisation, or connect to our services or any of our servers or any other systems or networks of our Services provided through our Platform by hacking, password mining or any other unlawful or prohibited means; (iii) probe, scan or test the vulnerabilities of our Services or any network connected to our Platform, or violate any security or authentication measures on our Services or any network connected to our Services; (iv) reverse look-up, track or seek to track any information of any users or visitors of our services; (v) take any actions that impose an unreasonable or disproportionately large load on the infrastructure of systems or networks of us or our networks, or the infrastructure of any systems or networks connected to our services; (vi) use any devices, software or routine programs to interfere with the normal operations of our services or any transactions on our services, or any other person’s use of our services; or (vii) forge headers, impersonate or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you send to us;
• modify or adapt the whole or any part of our Platform or combine or incorporate our Platform into another programme or application;
• disassemble, decompile, reverse-engineer or otherwise attempt to derive the source code, object code, underlying concepts, ideas and algorithms of our Platform or any of its components;
• modify, replicate, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any copyright statement or label, or licence, sub-licence, sell, mirror, design, rent, lease, private label, grant security interests in such intellectual properties or any part of the intellectual properties, or create derivative works or otherwise take advantage of any part of the intellectual properties;
• facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system, data or information in connection with our services;
• (i) use an anonymising proxy; (ii) use any temporary, disposable, self-destructive, or similar email address when opening a Hata Account and/or using our services; (iii) use any device, software, or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with our Hata Site, Hata Exchange, or any of our services; and (iv) take any action that may cause us to lose any of the services from our internet service providers, or other suppliers;
• create any security, charge, encumbrance, lien, or other similar charge over your fiat currency or cryptocurrencies held in your Hata Account without our prior written consent;
• violation of any laws, statutes, ordinance or regulations;
• undertaking, facilitating or supporting criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking;
• abusive activity, including but not limited to:
  • imposing an unreasonable or disproportionately large load on Hata’s infrastructure, or otherwise taking any action that may negatively affect the performance of the Hata Site or Hata’s reputation, including conducting frequent, intensive trading with or without software or trading tools that are unauthorised by the Hata Exchange;
  • attempting to gain unauthorised access to the Hata Site or any Hata Account by any method;
  • transmitting or uploading any material to the Hata Site that contains viruses, Trojan horses, worms, or any other harmful programmes; or
  • framing or mirroring any part of the Hata Platform without Hata’s prior written authorisation;
  • harvesting or collection other users’ personal information without their express consent;
  • sending unsolicited or unauthorised advertisements, spam or chain letters to other users on the Hata Platform;
  • transferring your Hata Account access or rights to your Hata Account to a third party, unless as required by law or with Hata’s prior consent.
• paying in to or otherwise supporting illegal pyramid schemes, Ponzi schemes, matrix programmes, “get rich quick” schemes, multi-level marketing programmes, high-yield investment programmes, or other similar schemes or programmes;
• fraudulent activity, including but not limited to taking any actions that defraud or defame Hata or a Hata customer, or the provision of any false, inaccurate, or misleading information to Hata;
• transactions involving items that may help facilitate or enable illegal activity; promote or facilitate hate, violence or racial intolerance; discrimination of any kind, harassment; are considered obscene, sexually explicit or offensive; or may be stolen goods or the proceeds of crime;
• transactions involving dark web markets or mixers;
• sale or purchase of narcotics or controlled substances;
• intellectual property infringement.

By opening a Hata Account, you confirm that you will not use your account to undertake any of the above-listed Prohibited Activities or any similar or related activity.

Activities subject to the prior written approval of Hata. Unless you have obtained the prior written approval of Hata, you accept and agree that you will not use your Hata Account to conduct or operate any of the following business activities or categories of activity:

• money services, including but not limited to money or cryptocurrency transmission, currency or cryptocurrency exchange or dealing, payment service providers, e-money or any other financial services business;
• gambling or gaming services;
• charitable or religious / spiritual organisations;
• consumer lending services, including but not limited to secured and unsecured loans, cash advances, payday lending;
• investment funds, asset management, or brokerage services.

We reserve the right to restrict, suspend or terminate your Hata Account if we suspect, in our sole discretion, that you are using, or have used, your Hata Account in association with any of the activities listed above, or any similar or related activity, without having obtained the prior written approval of Hata.

Fund Holds for Compliance and Risk Management. If we are informed or reasonably believe that you have engaged in any Prohibited Activities or activities that are suspicious, unusual, or inconsistent in nature, we reserve the right to monitor, suspend, restrict, lock, or investigate any activity associated with your Hata Account. We further reserve the right to place a hold (“Hold”) on any funds associated with that transaction or your Hata Account pending the outcome or resolution of any investigation. Such a Hold may be applied immediately and without prior notice. We may Hold the funds for a period of up to one hundred eighty (180) days from the date of conclusion of our investigation, unless otherwise required by applicable law, regulation, court order, or direction from relevant authorities. During the Hold period, you shall have no access to the Held funds. You hereby agree to provide, upon request, any information, documents, or assistance that we or regulatory authorities reasonably require in connection with the investigation of the Prohibited Activity(ies). Failure to comply may result in continued retention of funds, suspension, or termination of your Account. At the end of this period, provided that no regulatory or judicial requirement mandates continued retention, and upon satisfactory resolution of the matters giving rise to the Prohibited Activity(ies), we will release the funds (or such portion thereof as is not otherwise subject to legal or regulatory encumbrance) to you, subject to deduction of any applicable fees, charges or claims due under these Terms. We shall notify you in writing (which may include electronic communication) when the Hold is placed, and again when the funds are released, unless we are legally prohibited from providing such notice.

Representations and Warranties

You hereby represent and warrant to us, at all times, the following:

• all documents and information you provide to us are true, accurate, complete, and up to date in all respects, and may be relied upon by us in determining whether or not you are eligible to use and access the Hata Platform;
• all decisions made in connection with these Terms were solely and exclusively based on your own judgement and after your own independent appraisal of your financial resources, ability and willingness to take relevant risks and financial objectives;
• you have full power, authority, and capacity to (i) access and use the Hata Platform; and (ii) enter into and deliver, and perform your obligations under these Terms and any agreement entered into pursuant to, or in connection with, these Terms;
• if you are a corporation, partner in a partnership, or trustee of a trust: (i) the corporation, partnership or trust has and will be operated in a way that is compliant with applicable laws, and any partnership or trust deeds (or other like documents); (ii) you will notify us immediately if there is any change, by way of resignation, removal, appointment or death, of any of the directors, partners, trustees, settlor(s), or ultimate beneficial owners or any person authorised to operate your Hata Account; and (iii) you will inform us immediately if the corporation, partnership, or trust is dissolved either on a voluntary or involuntary basis;
• all consents, permissions, authorisations, approvals and agreements of third parties and all authorisations, approvals, permissions, consents, registrations, declarations, filings with any regulatory authority, governmental department, commission, agency or other organisation having jurisdiction over you which are necessary or desirable for you to obtain in order to (i) access and use the Hata Platform; and (ii) enter into and deliver, and perform the transactions contemplated under these Terms and any agreement entered into pursuant to, or in connection with, these Terms, have been unconditionally obtained in writing, disclosed to us in writing, and have not been withdrawn or amended;
• these Terms and any agreement entered into pursuant to, or in connection with, these Terms constitute valid and legally binding obligations, enforceable against you in accordance with their respective terms;
• if you are a legal entity, you are duly incorporated, duly organised, and validly existing under the laws of your jurisdiction and have full power to conduct your business. If you are an individual, you are not less than 18 years old;
• your access and use of the Hata Platform, your execution and delivery of, and the performance of your obligations under these Terms and any agreement entered into pursuant to, or in connection with, these Terms, will not (i) if you are a legal entity, partner in a partnership or trustee of a trust result in a breach of or conflict with any provision of your constitution, articles of association, partnership agreement, trust deed or equivalent constitutive documents; (ii) result in a breach of, or constitute a default under, any instrument, agreement, document or undertaking to which you are a party or by which you or any of your property is bound or subject; and (iii) result in you, or cause us or any third party to, breach any applicable law, decree or judgement of any court, or any award of any arbitrator or those of any governmental or regulatory authority in any jurisdiction.

Prohibited Countries/Jurisdiction

Hata does not onboard users from the following countries/jurisdiction:-

1. United States; and
2. Ontario (Canada).

Individuals or entities from these jurisdictions are expressly prohibited from onboarding or engaging in any business activities with Hata. Any attempt to onboard from these areas shall constitute a breach of contract and may result in immediate termination of business relations with Hata. Hata reserves the right to amend this list without prior notice.

In addition to the above, Hata may refuse to onboard users from countries that exceed our risk appetite, such as jurisdictions under sanctions or internal compliance restrictions.

Disclaimer of warranties

The Hata Site, your Hata Account and any related products or services are offered on a strictly “as-is” and “where-available” basis and Hata expressly disclaims, and you expressly waive, all warranties of any kind, whether express or implied. Without limiting the generality of the foregoing, the Hata Site, your Hata Account, and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.

We are entitled to block or disable the use of the Hata Platform on end devices if the security features devised by the operating system or manufacturer of such device on which the Hata Platform is used/installed have been modified at any time (e.g., a “jailbroken” device). Accordingly, we do not guarantee the functioning and operation of the Hata Platform on end devices which have been modified in this way or on older end devices that no longer meet the technical requirements for the use or access to the Hata Platform.

Some jurisdictions do not allow the disclaimer of implied terms in consumer contracts, so some or all of the disclaimers in this section may not apply to you.

Limitation of liability

Neither Hata nor any of our subsidiaries or affiliate companies will have any responsibility or liability for any loss suffered by you or any third party, except to the extent that such loss arises solely and directly as a result of the gross negligence, willful misconduct, actual fraud or material and continuing breach of obligation under these Terms by Hata. Without prejudice to the foregoing and notwithstanding any other clause in these Terms, in no event will the liability of Hata and all Hata subsidiaries and affiliates in aggregate exceed the amount of fees paid by you to Hata in the 12-month period immediately before the event giving rise to the loss. Such sum shall be paid by us to you in full and final settlement and satisfaction of ours and any Hata subsidiary or affiliate’s entire liability for any and all losses and claims, however arising, from the relevant events. You acknowledge and agree that neither Hata nor any of Hata’s subsidiaries and affiliates are aware of any special circumstances pertaining to you, and that damages are an adequate remedy and that you shall not be entitled to any other claims or remedies at law or in equity, including but not limited to, any claim in rem, injunction, and/or specific performance.

The Hata Platform and the services are provided on an “as is” and “as available” basis without any representation or warranty, whether express, implied or statutory. We do not make any representations or warranties that access to any part of the service, or any of the materials contained therein, will be continuous, uninterrupted, timely, error-free, secure, or free of viruses, worms, Trojan horses or other code with contaminating or destructive properties. Operation of the Hata Site, API, OTC Platform and the services may be interfered with by numerous factors outside of our control. We make no representations or warranties concerning the real or perceived value of any quoted currency. Further, we make no representation or warranties as to the quality, suitability, usefulness, accuracy, or completeness of the Services or any materials contained therein or otherwise made available on or via the Hata Site, API or the OTC Platform.

In no event shall Hata, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, or unavailability of the Hata Site and/or your Hata Account, including without limitation any damages caused by or resulting from any reliance upon any information received from Hata, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a force majeure event, communications failure, theft, destruction or unauthorised access to Hata’s records, programmes or services.

In no event will any liability of Hata, its operating entities or any other affiliates (including their respective directors, members, employees or agents) arising in relation to your use of the Hata Site or your Hata Account, exceed (in aggregate) the fees earned by Hata in connection with your use of your Hata Account in the six month period immediately preceding the event giving rise to the claim for liability.

The above limitations of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction. Because some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages, some of the limitations in this section may not apply to you.

Indemnity

To the maximum extent permitted by law, you agree to indemnify Hata, its operating entities or any other affiliates (including their respective directors, members, employees and/or agents) against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly arising from your use of or conduct in relation to the Hata Site and/or your Hata Account, or from your violation of these Terms.

Dispute Resolution

Notice of Claim and Dispute Resolution Period. Please contact us first if you have any concerns, claims, or disputes with the Hata Platform within 30 days of such concerns, claims, or disputes arising. Hata wants to address your concerns without resorting to formal legal proceedings, if possible. A ticket number will be assigned to you if your concerns cannot be addressed to your satisfaction at first instance. The issuance of the ticket number commences the internal dispute resolution procedure. We will attempt to resolve the dispute internally as soon as possible. You and us agree to negotiate in good faith to resolve the dispute (which discussions shall remain confidential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding).

In the event the dispute cannot be resolved satisfactorily, and you wish to assert a Claim against Hata, then you agree to set forth the basis of such Claim in writing in a “Notice of Claim,” as a form of prior notice to Hata. The Notice of Claim must (1) describe the nature and basis of the claim or dispute, (2) set forth the specific relief sought, (3) provide the original ticket number, and (4) include your custody account email. The Notice of Claim should be submitted to the following web address: [email protected]. After you have provided the Notice of Claim to Hata, the dispute referenced in the Notice of Claim may be submitted by either Hata or you to arbitration in accordance with the section below (see Agreement to Arbitrate).

For the avoidance of doubt, the submission of a dispute to Hata for resolution internally and the delivery of a Notice of Claim to Hata are prerequisites to commencing arbitration proceedings (or any other type of legal proceeding). During arbitration, the amount of any settlement offer made by you shall not be disclosed to the arbitrator.

Agreement to Arbitrate

Aside from where applicable law requires or provides you with a choice otherwise, you and Hata agree that, subject to the immediately preceding section above (Notice of Claim and Dispute Resolution Period), any Claim shall be determined by mandatory final and binding individual (not class) arbitration administered by the Asian International Arbitration Centre (“AIAC”) in accordance with the AIAC Rules for the time being in force, which rules are deemed incorporated by reference in this clause.

The seat of arbitration shall be Malaysia, and the tribunal shall consist of one (1) arbitrator to be appointed in accordance with the AIAC Rules for the time being in force. The language of the arbitration shall be in English. You and Hata further agree that the arbitrator shall have the exclusive power to rule on his or her own jurisdiction, including without limitation any objections with respect to the existence, scope or validity of the Agreement to Arbitrate, or to the arbitrability of any Claim.

The arbitration provisions in this section will survive the termination of these Terms.

Limitation Period for Filing. Any arbitration against Hata must be commenced by filing and serving a Notice of Arbitration in accordance with the AIAC Rules within one (1) year after the date that the user asserting the Claim first found out or reasonably should have found out the alleged act, omission or default giving rise to the Claim (“Limitation Period”). For the avoidance of doubt, the Limitation Period shall include the Dispute Resolution Period set out in the section above. There shall be no right to any remedy or relief for any Claim by the user if the Notice of Arbitration in respect of that Claim is not filed and served on Hata within that Limitation Period. If the Limitation Period is contrary to applicable law, the user shall be required to bring any Claim against Hata within the shortest time period permitted by the applicable law. A Notice of Arbitration may be served on Hata in accordance with the Applicable Laws and rules of service.

If Hata commences arbitration against you, Hata will give you notice at the email address or mailing address you have provided. You agree that any notice sent to this email or mailing address shall be deemed effective for all purposes, including without limitation to determining the adequacy of service. It is your obligation to ensure that the email address and/or mailing address on file with Hata is up-to-date and accurate.

Confidentiality

The parties agree that the arbitration shall be kept confidential. The existence of the arbitration, the existence or content of the Claim, all documents and information provided or exchanged in connection with the arbitration, and any submissions, orders or awards made in the arbitration shall be kept confidential and no party shall disclose any of the foregoing to any third party except the tribunal, the AIAC, the parties, their counsels, experts, witnesses, accountants and auditors, insurers and reinsurers, and any other persons necessary to the conduct of the arbitration. Notwithstanding the foregoing, a party may disclose such confidential information:

• if the written consent of the other party is obtained;
• to the extent required by applicable law or by the regulations of any regulatory or supervisory authority of competent jurisdiction to which the party is or may become subject to or pursuant to any order of court or other competent authority or tribunal of competent jurisdiction;
• in connection with the commencement, pursuit or defence by a party of any bona fide legal proceedings to enforce or challenge any award rendered in the arbitration;
• to the extent that the relevant confidential information is in the public domain otherwise than by breach of these Terms.

This term of confidentiality in this section shall survive termination of these Terms and conclusion or stay of any arbitration brought pursuant to these Terms.

Governing law and jurisdiction

Aside from where applicable law requires or provides you with a choice otherwise, these Terms shall be governed by, and construed in accordance with the laws of Malaysia.

Class or representative action waiver

To the maximum extent permissible by law, you and Hata each agree that each may bring any Dispute against the other only in your or its individual capacity, and you and it waive any right to commence or participate in any class action or other representative action or proceeding against the other. Further, where permissible by law, unless both you and Hata agree otherwise, no court may consolidate any other person’s claim(s) with your Dispute, and may not otherwise preside over any form of representative or class proceeding.

For the avoidance of doubt, if this class or representative action waiver is found by any court of competent jurisdiction to be invalid, void or unenforceable, the remainder of this Disputes section shall remain valid and enforceable.

Miscellaneous

Entire agreement. These Terms constitute the entire agreement and understanding between you and Hata with respect to their subject matter and supersede any and all prior discussions, agreements and understandings of any kind between you and Hata (including but not limited to any prior versions of these Terms).

Severability. If any provision of these Terms, as amended from time to time, is determined to be illegal, invalid or unenforceable, in whole or in part, under any law, such provision or part thereof shall to that extent be deemed not to form part of these Terms but the legality, validity and enforceability of the other provisions in these Terms shall not be affected and everything else in these Terms will continue in full force and effect.

In the event any provision or part thereof of these Terms is determined to be illegal, invalid or unenforceable, that provision or part thereof shall be replaced by the parties with a legal, valid and enforceable provision or part thereof that has, to the greatest extent possible, a similar effect as the illegal, invalid or unenforceable provision, given the content and purpose of these Terms.

Assignment. You may not assign or transfer any of your rights or obligations under these Terms without Hata’s prior written approval. You give Hata your approval to assign or transfer these Terms in whole or in part, including but not limited to:

1. a parent company, subsidiary, affiliate, or other “Group Company” (“Group Company” shall, in this context, refer to any entity which is under common control with Hata, and “control” in this context refers to the direct or indirect ability to exercise a majority of the voting rights in such an entity);
2. an acquirer of Hata’s equity, business or assets; or
3. a successor by merger.

Change of control. In the event that Hata is acquired by or merged with a third party, we reserve the right to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.

Force Majeure. Hata shall not be liable for any delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labour dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control.

Survival. All provisions of these Terms that by their nature extend beyond the expiry or termination of these Terms, including but not limited to, sections relating to the suspension or termination of your Hata Account, use of the Hata Site, disputes with Hata and general provisions, shall survive the termination of these Terms.

Headings. Section headings in these Terms are for convenience only, and shall not govern the meaning or interpretation of any provision of these Terms.

English language controls. Notwithstanding any other provision of these Terms, any translation is provided solely for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretation in the English language. Any translation provided may not accurately represent the information in the original English.