These Terms of Use (hereinafter “Terms”, “Agreement”) constitute a public electronic legally binding agreement between You (hereinafter “User”, "Merchant") and Kuna Pay (hereinafter "Company", "We" or "Us" which may act on behalf of one of the legal entities mentioned in the clause 1.1.), (each “a Party” and together “the Parties”), governing Your access to and use of this website, mobile application (if any), and any other services provided by Us. By accessing and using our Services, You acknowledge that You have read, understood, and agree to be bound by these Terms of Use, as well as any additional terms, policies, or guidelines that are incorporated by reference or otherwise apply to specific parts of our Services, such as our Privacy Policy and AML Policy.
By using the Services, You authorize Kuna Pay to take any and all actions that we think are necessary or desirable to provide the Services and to comply with Applicable Laws and regulations.
If You do not agree with these Terms of Use, or if You are unable or unwilling to comply with any of the provisions herein, You must not access or use our Services. We reserve the right to modify or update these Terms of Use at any time and for any reason, with or without notice. It is Your responsibility to review these Terms of Use periodically for any changes, so we urge You to make a copy of the text of these Terms of Use for future reference. Your continued use of the Services following the posting of any changes to these Terms of Use will signify Your acceptance of those changes.
Please note that Kuna Pay may offer different services in different jurisdictions or to different user segments, and the availability and scope of our Services may be subject to additional terms, policies, or guidelines that are specific to Your jurisdiction or user segment. It is Your responsibility to familiarize Yourself with and adhere to any such additional terms, policies, or guidelines.
UAB Kuna Pro is a company organized and existing under the laws of the Republic of Lithuania, registered number 306041195, registered address at: Eišiškių Sodų 18-oji g. 11, LT-02194, Vilnius.
FlexyPay Inc is a company organized and existing under the laws of Canada, legal entity code BC1341302, registered address at 398-416 Main st, Vancouver, BC, Canada, V5T3E2.
You may contact us by email at kunapay@kuna.io.
UAB Kuna Pro is a Virtual Asset Service Provider license holder. Under the VASP license Kuna Pro provides the following Services:
FlexyPay Inc is a holder of Canada MSB License.
Please note that Kuna Pay may modify, suspend, or discontinue any of the Services at any time, with or without notice, at our sole discretion. Furthermore, the availability and scope of our Services may vary depending on Your jurisdiction, user segment, or other factors. Kuna Pay does not guarantee the continuous, uninterrupted, or error-free operation of our Services, and we shall not be liable for any losses or damages arising from any interruptions, delays, or errors in the Services.
The definitions set out in this section shall apply in these Terms of Use as follows:
Any use of the above terminology or other words in the singular, plural, capitalization, and/or he/she or they, are taken as interchangeable and therefore as referring to the same. Words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.
The Merchant can use the VA Wallet Service to store, transfer, exchange and manage the balances of specific supported VA (collectively referred to as “VA Transactions”). VA Transactions will be processed by the Company in line with the Merchant's instructions.
The Services are only offered in conjunction with the VAs that the Company supports, including, but not limited: BTC - Bitcoin, ETH - Ethereum, USDT ERC20 - Tether ERC20, USDT TRC20 - Tether TRC20, DOGE - Dogecoin, LTC - Litecoin, XRP - Ripple, which are subject to change. The Company shall make a written notification to the Merchant in case of the change of VAs the Company supports (still the supported types of Virtual Assets can always be found in the Account). The Merchant will not store, send, request, or receive VA in any form that the Company does not support using the Account or its VA wallet (the Company will use reasonable efforts to help the Merchant manage or sell VA that the Company no longer supports). No liability is assumed by the Company in connection with any attempt to use the Account or VA wallet for VA that the Company does not support.
As required by law or any court or other state authority or respective entity to which the Company is subject in any area, the Company may refuse to process or cancel any pending VA Transaction. The Company also maintains the right to postpone any VA Transaction if it suspects fraud or unlawful behavior. Due to technological challenges with the blockchain software, its own software, or other technical reasons, the Company also has the right to refuse to complete or cancel any VA Transaction. In case of such refusal or postponement referred to in this clause, the Company shall serve a written notice thereon to the Merchant as soon as possible.
You acknowledge that:
a. Kuna Pay is not a bank or brokerage and the Services provided are facilitation services rather than banking services; and
b. Kuna Pay is not acting as a trustee, fiduciary or escrow with respect to Your VA or funds, but is acting only as a service provider.
You can utilize the following Services with VA:
a. VA invoice deposit;
b. withdrawal of VA;
c. withdrawal of fiat currency;
d. exchange and auto-exchange VA to another VA.
e. exchange and auto-exchange VA to fiat.
The Merchant agrees that Kuna Pay has no responsibility or liability to the Merchant for VA Transactions conducted by the Merchant or conducted by the Company in accordance with Merchant's instructions, and that the Merchant will not receive interest or other earnings in the Account or VA wallet from the use of the Services except through its own VA Transactions.
By initiating VA Transactions or by sending and receiving VA, the Merchant appoints the Company as its nominee custodian to manage the Account where it is appropriate in the sole opinion of the Company or by Merchant’s instruction. Should the Company suffer any damage, expense, liability, cost or loss from the Merchant’s use of the Services, the Merchant shall indemnify and reimburse the Company in full for such damage, expense, liability, cost or loss provided that such damage, expense, liability, cost or loss is proven by an arbitration decision, within five days of receiving an invoice from the Company after the arbitration decision come into force (the “Payment Deadline”).
Kuna Pay retains the right to debit the Account and/or withhold sums from VA or money the Merchant has requested to transfer if the Merchant fails to pay by the Payment Deadline or if the payment is insufficient to recompense the Company for such damage, expenditure, obligation, cost, or loss.
During registration of the Account and at any other time the Merchant has the Account, the Merchant agrees to provide the Company with the information the Company requests for the purposes of ongoing due diligence, identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permits the Company to keep a record of such information. The Merchant represents and warrants that all information the Merchant provides Company at any time will not be false, inaccurate or misleading. The Merchant will need to complete certain verification procedures before the Merchant is permitted to use the Services. Merchant’s access to the Services and the limits that apply to its use of the Services, may be altered, suspended or terminated as a result of information collected about the Merchant on an ongoing basis and/or Merchant’s failure to provide the Company with information the Company requests on a timely basis. The Merchant authorizes the Company to make inquiries, whether directly or through third parties, that the Company considers necessary to verify Merchant’s identity or protect the Merchant and/or the Company against fraud or other financial crime, and to take action the Company reasonably deems necessary based on the results of such inquiries. When the Company carries out these inquiries, the Merchant acknowledges and agrees that its personal information may be disclosed to fraud prevention or financial crime agencies and that these agencies may respond to the Company’s inquiries in full.
To use the Services, You must first register an Account on the Website by completing a registration process, then go through the compliance process by providing all needed information. The e-mail address specified by You during the setting up of Your Account and intended for Your identification and login to Your Account shall be valid throughout the entire period of validity of Your Account.
During the registration You will be required to read and accept Our Terms of Use, as well as Privacy Policy, AML Policy and other accompanying documents (if any). We may, in Our sole discretion, refuse to register the Account for the Merchant. Registering the Account, Merchant must provide accurate and complete information, and the Merchant must keep this information up to date. The completeness, authenticity, and correctness of all information and documentation given to the Company is completely the responsibility of the Merchant. The Merchant is required to tell the Company promptly if there is any error, mistake, update, or modification in the information or documents supplied before. The Company processes the information and documents it receives in accordance with its Privacy Policy and this Agreement.
We will review and assess information and/or documents submitted by You. Upon assessment of the information and documents obtained, access to the Services will be granted and You will be able to start using Our Services unless the conclusion that You are not eligible to gain access to the Services is made.
Verification of the data provided by the Merchant is carried out both manually and using our trusted KYC service provider. Respective personal data and other connected information shall be treated in accordance with the requirements set by the Sum and Substance LTD Privacy Notice (https://sumsub.com/privacy-notice-service/).
The Services and the use of the Website are available to legal entities and individuals (including private entrepreneurs) that:
a. are at least 18 years old (for individuals);
b. have the capacity to enter into a legally binding contract and use the Website, and are not prohibited to do so and use the Services by the Applicable Law or any other laws that may apply;
c. are residing or incorporated in countries and territories Company support;
d. doesn’t run any activity as listed in Sections 5, 9;
e. meet requirements prescribed by Section 6.
If Services are used on behalf of a legal entity, Merchant further represents and warrants that:
a. the legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and
b. Merchant's representative is duly authorized by such a legal entity to act on its behalf.
If You are an individual You can only have one Account on the Website. Merchants (individuals) should not create more than one Account on the Website unless expressly permitted by the Company. Merchants (individuals) cannot create an Account on the Website if the Merchant Account has previously been suspended by the Company.
Services aren't available for Merchant:
- who carry out Prohibited activities, named in Sections 5, 9.
- who sell goods or services without a corresponding permit or license, which requires an appropriate permit and/or a license for at least one of the parties to the transaction; who are suspended or removed from using the Services; persons who are not in compliance with this Agreement and Terms of use; and persons who are not lawfully permitted to use the Services, cannot enter into legally binding contracts or who, in Company’s sole opinion, present an unacceptable level of risk to the Company, or to others. Any use of the Services by anyone who falls within such categories is strictly prohibited and in violation of this Agreement.
Your User credentials may only be used by You and by persons authorized by You. You may not distribute or transfer access to Your Account to any third-parties.
All Transactions completed through Your Account will be deemed to have been lawfully completed by You. You will ensure the security and confidentiality of Your User credentials and will notify Kuna Pay immediately, by email kunapay@kuna.io, if any User credentials are lost, stolen or otherwise compromised.
The Services are not available in every jurisdiction and the Company reserves the right to select the markets and jurisdictions where the Company provides the Services. The Company shall notify the Merchant in writing of the jurisdictions and markets where the Company’s Services are available and of any changes thereto. Persons and entities in jurisdictions where the Company does not provide the Services are prohibited from using or accessing any of the Services (“Prohibited Jurisdictions”). Information on Prohibited Jurisdictions can be found in the respective Section of the AML policy available at the Website.
Merchant may be denied to provide the Services at Company’s discretion in case of any suspicion that the activities carried out by the Merchant are aimed at money laundering, terrorist financing and any illegal activity, and/or are in any way undesirable and unsuitable for us.
Company has the right to refuse specific persons access to or use Services and to amend the eligibility requirements at any time (provided that the Company informs the Merchant of the change in eligibility requirements for the latter to make sure the Merchant meets such amended eligibility requirements).
We may at any time request to provide additional documents and information and/or updated documents and/or information and documents submitted before and reserves the right to do so at Our sole discretion. Failure to abide by these requirements may result in temporary or permanent cessation of Services provision and/or Account suspension.
The Merchant agrees not to engage in any of the following prohibited activities which may be amended by the Company from time to time in its sole discretion (“Prohibited Activities”). The specific types of prohibited activities listed below are illustrative, but not exhaustive. If the Merchant is uncertain as to whether or not its use of the Services involves a Prohibited Activity, please contact the Company as soon as possible at kunapay@kuna.io. The Merchant represents that by accessing and using the Services and creating the Account, the Merchant will not use the Account or the Services to conduct any of the following:
Unlawful Businesses. Carry on any of following businesses or activities:
a. child pornography and the creation, sale or distribution of other obscene materials (including literature, imagery and other media), pornographic materials or items and sexually-related sites offering prostitution and escorts services;
b. unlicensed gambling and/or unlawful gaming activities, including but not limited to payment or the acceptance of payments for unlicensed wagers, gambling debts or gambling winnings, regardless of the location or type of gambling activity (including online and offline casinos, sports wagering, lotteries, bidding fee auctions and office pools) with the exception of payments for online gaming transactions that are expressly authorized by law.
c. fraudulent businesses, sale of counterfeit or unauthorized or stolen items or the sale of goods or services that are illegally imported or exported;
d. marijuana dispensaries and related businesses where it is illegal to carry on such businesses; sale of cigarettes, tobacco, tobacco products, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age-restricted goods or services; weapons and munitions; gunpowder and other explosives; fireworks and related goods; or toxic, flammable, and radioactive materials;
e. sale of narcotics or illegal substances, precursors and any equipment designed for making or using such drugs;
f. Pyramid schemes, high-risk investment schemes, unlicensed financial services or payments providers, FX, and other businesses that the Company determines in its sole discretion to be unfair, deceptive, or predatory toward consumers;
g. any businesses that the Company believes pose an elevated financial risk, legal liability, or violate the law;
h. any activities anyhow related to the money laundering and terrorist financing (definitions are used in accordance with Lithuania Law on the Prevention of Money Laundering and Terrorist Financing, VIII-275: https://e-seimas.lrs.lt/portal/legalAct/lt/TAD/TAIS.41300/asr );
i. and activities related to the sale and purchase, exchange, or other transactions involving the transfer of ownership, possession, use, or disposal of the following groups of goods or services:
-drugs, pharmacological products, medicines;
-items posing a danger to life and health;
-non-existent goods;
-human organs and remains, and organs and remains of animals;
-special technical means of secretly obtaining information;
-any electronic, mechanical and computer equipment prohibited or restricted in circulation or use;
-state awards; personal documents, as well as forms of these documents;
-objects of history and art that constitute the cultural values of the country in which the consumer is located;
-firearms, edged weapons, traumatic weapons, stun guns, as well as ammunition and accessories for them;
-special means of active defense used by law enforcement agencies;
-precious metals and precious stones not in the product;
-counterfeit currency and currency values;
-rare and prohibited for sale animals, incl. animals listed in the CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora);
-any other goods and services under Company’s discretion as well as prohibited by applicable law.
Intellectual Property Infringement. Engage in transactions that violate, infringe or misappropriate any intellectual or industrial property right of any person (such as copyright, trademarks, patents, or trade secrets, or other proprietary rights of any party), right of publicity or privacy or commit a tort; use of Company’s intellectual property, name, or logo, including use of the Company’s trade or service marks, without express consent from the Company or in a manner that otherwise harms the Company or its brand; create a false identity for the purpose of misleading others or fraudulently or otherwise misrepresent yourself to be another person or a representative of another entity, or fraudulently or otherwise misrepresent that the Merchant has an affiliation with a person, entity or group.
Unlawful Activity performance of actions prohibited by law of Republic of Lithuania, European Union’s law as well as activity prohibited by this contract. Unlawful activity as well referred to sanctions programs administered in the countries where the Company carries on business or which regimes may be applicable to the Company’s operations, including, but not limited to, Republic of Lithuania sanction programs, European Union law sanction programs and sanctions programs administered by the United Nations, United States, United Kingdom and others (collectively, the “Sanctions Programs”); carry on activity which would violate, or assist in the violation of, any law, legislation, statute, ordinance, regulation (including, but not limited to, those governing financial services, consumer protection, unfair competition, anti-discrimination, or false advertising) or Sanctions Program, or which would involve proceeds of any unlawful activity; publish, distribute or disseminate any illegal material or information; or be in violation of any court order.
Abusive Activity. Transmit or upload any material to the Website (and Merchant’s Account) that contains viruses, trojan horses, worms, time bombs, cancelbots, easter eggs or any other harmful or deleterious programs or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or other personal information; actions which impose an unreasonable or disproportionately large load on the Company’s infrastructure, or detrimentally interferes with, intercepts, or expropriates any system, data, or information; attempt to gain unauthorized access to other Merchants’, clients’ accounts, computer systems or networks connected to the Website, through password mining or any other means; use account information of another party to access or use the Services; transfer the Account access or rights to the Account to a third party, unless by operation of law or with the Company’s express permission; any activity which creates costs, expenses, losses or liability for the Company or causes the Company to lose (in whole or in part) the services of it ISPs or other suppliers; activity which operates to defraud the Company, other merchants, or any other person including, without, limitation, taking funds or VA from the Company’s platform or from other Users that is not rightfully and legally belong to the Merchant or overdrawing or removing more VA or funds from the Company’s platform than were legitimately in the Account; modifying, disassembling, decompiling or reverse engineering the Website and Services; provide any false, inaccurate, or misleading information to the Company; transmitting spam, chain letters, or other unsolicited email; attempting to interfere with, compromise the system integrity or security or decipher any transmissions to or from the servers running the Website; impersonating another person or otherwise misrepresenting Merchant’ s affiliation with a person or entity, conducting fraud, hiding or attempting to hide the Merchant’s identity; use any device, software or routine to bypass Company’s robot exclusion headers, or to interfere or attempt to interfere with any activities conducted on the Website; accessing any content the Website through any technology or means other than those provided or authorized by the Company; bypassing the measures the Company may use to prevent or restrict access to the Services, including without limitation removing, circumventing, disabling or otherwise interfering with security-related features or features that prevent or restrict use or copying of any content or enforce limitations on use of the Services or the content therein; or deleting Company’s copyright or other proprietary rights notices.
The Company maintains the right to monitor, examine, preserve, and/or disclose any information as required to comply with any relevant law, regulation, Sanctions Program, legal process, or governmental request at any time. If the Company finds, in its sole judgment, that the Account is affiliated with a Prohibited Activity, the Company retains the right to terminate and/or suspend the Account, as well as block transactions and freeze funds, instantly and without warning but with a written notice to the Merchant thereafter stating the grounds for termination / suspension / block / freeze.
By creating an Account, You represent, warrant, and agree to the following:
If You do not meet or no longer meet the eligibility criteria set out above, Kuna Pay has the right to refuse Services to You.
As a condition to accessing or using the Services, You represent, warrant, and agree to the following:
After You register an account with Kuna Pay, You can accept VA payments from Your End Users (clients) as well as perform other transactions: deposit, Invoice deposit, withdrawal, mass payout, exchange, referral deposit.
You authorize Kuna Pay to receive, temporarily hold, exchange, and disburse Virtual Assets on Your behalf, as well as deduct applicable Fees and other costs, and to take any and all actions that We deem necessary or desirable in order to provide Services to You and comply with Applicable Law and these Terms of Use.
In order to enable the provision of Services before executing any payment Transaction, Merchant may be required upon Our request to complete a verification process at the time of payment, depending on the amount of the transaction, as part of our AML/CTF compliance obligations. We reserve the right to request personal information of Your End Users, including, but not limited: a photo of national ID, passport, driver's license etc. if the collection of such information is required.
When processing Transactions, We use the current Virtual Asset exchange rate, which is available at kuna.io. You must assume the volatility risk of Your settlement of Virtual Asset, as we do not guarantee the future value of Your chosen VA currency. If You choose to receive some or all of Your settlement in Virtual Asset, We do not guarantee the future value of that Virtual Asset.
Once a Transaction has been fully paid by Your client, reaches the required number of block confirmations, and is credited to Your Account, the invoice is considered "Complete" by Us. The number of confirmations required for a Transaction may vary depending on the blockchain being used and our internal risk analysis.
To reduce the risk of fraudulent payments, We employ various risk mitigation techniques to detect unconfirmed payments, such as payments that are at risk of never receiving the required number of block confirmations. However, these measures do not entirely eliminate the risk associated with unconfirmed payments.
All Transactions, including payments, deposits, withdrawals, and others, are recorded in the User's Account and can be accessed for a period of time determined by Kuna Pay. If You identify an error, you must notify us within thirty (30) calendar days at support@kuna.io.
Limits. We reserve the right to impose limits on Transaction amounts or frequency at Our discretion, based on factors such as Transaction history, risk assessment, and regulatory requirements. Users may be required to provide additional information or undergo further verification procedures in order to increase or remove these limits.
Suspicious Transactions. In the event of any suspicious or potentially fraudulent Transactions, Kuna Pay reserves the right to suspend or delay such Transactions for further clarification. Kuna Pay may request additional information from the User to verify the legitimacy of the Transaction and may, at its sole discretion, decide to approve or reject the transaction based on the findings of its investigation. Users shall promptly notify Kuna Pay of any unauthorized Transactions or discrepancies in their Account balances. Kuna Pay will investigate such reports and take appropriate action to address any issues.
If, based on the result of transactions monitoring, We have reason to suspect that the VA used as payment comes from an illegal source or are illicit Funds (meaning has an increased risk of being connected with illegal / abusive or other similar activity basing on our sole determination of the risk), Kuna Pay has the right to freeze such payment to ascertain the circumstances. In this case, the Merchant is obliged to request his End User for confirmation of the origin of the source of funds and provide it to Us. Kuna Pay will examine the submitted documents as soon as possible and make a decision to unfreeze the transaction if it complies with Our risk appetite.
Relationship between Merchant and its clients (End – Users). Payments by Your client to Us will be considered the same as payments made directly to You. We collect Virtual Assets to Your Account exclusively for You and on behalf of You. You remain the owner of Virtual Assets that We hold for You and on behalf of You. In relation to payments in Virtual Assets made to You, any legal relations are between You as a Merchant and Your client making a payment. Kuna Pay is not a party to relations between You as a Merchant and Your End-User making payments in Virtual Assets. We do not accept any queries, letters, requests and/or complaints as well as liability for the quality, legality, safety, delivery or any other aspect regarding You, Your services, products, activities and/or a payment and/or a donation, or a purchase related to relation between You as a Merchant and Your client. Any disputes between You as a Merchant and Your client shall be resolved exclusively between You and Your client.
Liability. Users are solely responsible for the accuracy of payment details provided during the transaction process, including but not limited to wallet addresses and payment amounts. All Virtual Assets transactions are at Your sole risk. Kuna Pay is not responsible for any errors Merchant may make in providing payment details and shall not be held liable for any losses that may occur due to such errors.
Transactions processing. Kuna Pay will take reasonable measures to ensure that Transactions are processed in a timely manner. However, Kuna Pay makes no guarantees regarding the processing time for Transactions and shall not be held liable for any delays or losses that may occur due to technical issues, system failures, or other factors beyond Kuna Pay's control.
Taxes. Kuna Pay is not responsible for any taxes, duties, or other fees that may arise from the User's transactions. Users are solely responsible for determining their tax obligations and reporting their transactions to the appropriate tax authorities in accordance with applicable laws and regulations.
You are responsible for maintaining adequate balance and sufficient proceeds in the Account in order to pay Fees and complete transactions and in order to avoid overdraft, insufficient funds, or similar fees being charged.
When You send a payment to a third party through the Website, the recipient is not required to accept the payment. We are not responsible and liable for any payments sent through the Services that are rejected or unclaimed by a recipient.
8. Deposits and Withdrawals
The Merchant may accept Deposits (payments) for goods and/or services provided to its clients (End-Users) either generating invoice deposit or manually, by providing the client with a VA wallet address (asset deposit).
Invoice Deposit - allows to generate the invoice including VA to Fiat automatic conversation option. Creating the invoice You can choose the Fee options as well (on Your side or on Your client’s side).
The invoice deposit payment request must be made for the amount You wish to collect in Your chosen settlement currency, and must be displayed on Kuna Pay's hosted User interface during checkout.
You and Your client can see the current status of an invoice. Kuna Pay may add new Virtual Assets to the invoice, and these additional currencies will be enabled by default unless You request that we disable them. We may also remove certain Virtual Assets as a payment option under certain circumstances.
Asset deposit available in VA only. Allows to deposit VA to the VA wallet address. Fees to be paid on Merchant’s side only.
Referral deposit available under the terms of the TERMS AND CONDITIONS OF REFERRAL AGREEMENT.
Exchange under exchange rates available at kuna.io
We are concerned about Our reputation as well as the safety of Our Users. To keep secure, We must inspect and check each incoming VA. To do this, We work with reputable partners such as advanced blockchain explorers, analytics, and risk assessment tools/experts, who provide risk-based analysis of each transfer. During the examination, VA is barred from accessing technical accounts until competent compliance approval is received. VA will be credited to the Account after a positive review. VA will not be credited to a Merchant's Account if there is a significant danger of receiving VA, any linkages with mixers or tumblers, and/or prohibited platforms, for example.
Merchant can withdraw units of VA at any time at Merchant's sole discretion, subject to Account transaction limitations and temporary or permanent limitations imposed in the course of an internal inquiry or by law (e.g. court orders).
Mass payouts are available by uploading the relevant CSV file.
Kuna Pay shall not be liable for the transfer of Merchant’s units of VA to other wallets. Merchant is solely liable for the accuracy of information required for carrying out a Withdrawal (i.e. addresses, tags and any other required credentials). Merchants shall always keep in mind that blockchain transactions are irreversible, and therefore, once Transaction details have been submitted via the Services, We cannot assist to cancel or otherwise modify the Transaction. All VA Transactions are at Your sole risk.
The Merchant may withdraw VA from the Account to his own external VA wallet address and withdraw Fiat Currencies to the Merchants’ own account with financial institution; however, We reserve the right to require the Merchant to provide certain information including, without limitation, identification information and settle any outstanding fees or other amounts prior to completing any withdrawals or pay-outs.
In addition to the obligations setted in Section 5, while visiting, accessing, using the Website and Services, You agrees not to:
Kuna Pay is committed to comply with all relevant legal requirements in the field of AML/CTF. Failure to submit the required information and documents or provision of incorrect or incomplete information and documents, or failure to comply with our other requests will result in our Services being unavailable to You.
You can find a list of documents and information that we are obliged to request from You in our AML Policy. Kuna Pay performs the customer due diligence measures by means of our trusted partner SumSub (Sum and Substance Ltd). If the User is uncooperative with our service provider and does not provide the requested data or information necessary to perform customer due diligence, We have the right to terminate a business relationship with such User.
In order to be fully compliant with the AML laws Kuna Pay:
Kuna Pay reserves the right to terminate a business relationship with User at any time if we determine that continuing such a business relationship exposes Us to a money laundering and terrorist financing risk we no longer deem acceptable.
Kuna Pay charges Fees for the use of Services, which can be deducted automatically from your Account or deducted from the deposit amount. Fees can be displayed on Our Website, but Your final Fees to be observed in Your Account. The applicable Fees for each transaction will be displayed to You in Your Account. When Fees are on the Merchant's client side, the Fee amount will be displayed before executing the transaction. You may also be charged with incurred VA network costs (if any) and miner fees, which are automatically created and sent to the miner. The miner fees are not crypto processing fees and are paid to the VA network directly.
You authorize Kuna Pay to deduct from the Account fees, costs, expenses and claims due hereunder.
The User is responsible for maintaining an adequate balance and sufficient proceeds in the Account to pay Fees and complete transactions, thereby avoiding overdraft, insufficient funds, or similar fees being charged. If you owe us any Fees, we will take the respective Fees you owe us from the Virtual Assets/Fiat we process on your behalf on the due date without your instruction. If you do not have enough Virtual Assets/Fiat to pay the Fees, we reserve the right to suspend the provision of our Services to you until such Fees will be paid to us.
Kuna Pay may change the Fee structure at any time, including adding new fees for Services. We will notify You of any changes to the Fee structure, which may be done by posting a 7 (seven) calendar days prior notification on the Website or sending You an email. Continuing use of the Services after the expiration of the notice period will be considered as acceptance of such changes. If You do not agree with the proposed changes, You should terminate Your use of the Services and close Your Account.
It is the nature of VA that Kuna Pay supports that all VA Transactions are final with no method of refunding or other recourse for the sender of the VA. As such neither We nor You are able to cancel, reverse or provide refunds for any VA Transaction made through the use of the Services once it has been transferred via the relevant VA network.
You cannot reverse or change any VA Transaction marked as complete or pending.
You accept and acknowledge that We are not liable or responsible for any errors or omissions whatsoever that are made in connection with any VA Transaction initiated via the Services using the wrong details (i.e. destination address, tag, etc).
We are not responsible for the Merchants refund policies. We suggest Merchants provide a clear refund policy to their clients. Merchants are responsible for handling refund requests made by their clients. If we receive a refund request directly from a Merchant's client, We will direct the client to contact the Merchant to resolve the issue. We will not mediate disputes between Merchants and their clients but may assist in providing relevant information, if necessary.
Please note, You are responsible for any and all refunds which may be applicable as well as for any fees, penalties, chargers, adjustments, fines applicable from third-parties and any other amount related to such refunds.
You may close Your Account at any time by contacting Our support at support@kuna.io after withdrawing all balances subject to minimum amounts which technically cannot be withdrawn. Upon closure of the Account, You authorize Us to cancel or suspend any pending Transactions at the time of cancellation, and any balance in the Account will be delivered to You or to Your Virtual Assets address as instructed, less any outstanding amounts owed to Us, the unsubsidized coin/miner network transaction fee, and any other third-party charges. Before closing the Account, all the assets have to be withdrawn to external wallets.
You shall not use closure of the Account as a means of evading investigation or inquiries by Kuna Pay. If any queries or investigation is pending at the time You request closure of the Account, We may refuse Your request to close the Account and hold Your Virtual Assets and funds as appropriate to protect Kuna Pay against financial and legal liability. If the User is later determined to be entitled to some or all of the Virtual Assets and funds in dispute, we will pay such Virtual Assets and funds to the User. The User will remain responsible and liable for all obligations related to the account even after such an Account is closed.
If User does not access the Kuna Pay Account for a period of 6 (six) calendar months, and We have been unable to contact the User after a reasonable number of attempts at the last contact address the we have for the User in its records, the Account may be closed in Our sole discretion.
We reserve the right to unilaterally suspend Your Account in an event:
We may, but We are not obliged to, notify the User about the reasons for the Account suspension. Assets from the Account will be withdrawn to wallets, information about which the User shall provide to Our customer support with deductions of the amounts owed Us (such as fees, fines etc). We are not responsible for any losses incurred as a result of the Account suspension or closure.
In an event of the Account closing or suspension, the User will still be liable for all applicable fees and charges.
Without limiting any other remedies We may have under applicable law, We may, without liability:
- refuse to complete or block, cancel or reverse a VA Transaction You have authorized, including, without limitation, block funding to or withdrawals from the Account;
- suspend, restrict, or terminate Your access to the Account and to any or all of the Services (including, but not limited to, the ability to send funds or make withdrawals from the Account and/or limit withdrawals);
- place a hold on or freeze any VA and/or funds in the Account for any period of time We deem appropriate;
- notify about upcoming Account blocking or usage of other remedies;
- suspend or close the Account with immediate effect for any reason; and/or
- refuse to provide the Services to the User, including but not limited to, where:
Kuna Pay may produce and display content (the “Content”) on the Website, which includes but is not limited to information, texts, images, video, and audio files. The Content does not constitute any form of investment advice, financial advice, trading advice, or any other sort of advice unless specifically mentioned otherwise and should not be construed as such. Kuna Pay shall not hold liability for any actions that arise from its Content.
All components, Content of the Website, and the Website as a whole belong to Kuna Pay and are protected with, including, but not limited to copyright, trademarks, trade secrets. All rights reserved.
You must not reproduce, reprint, publish, modify, distribute, display, transmit, license, transfer or otherwise exploit Content or technology from the Website without Kuna Pay's prior written consent.
Violation of any of the intellectual property rights of Kuna Pay is strictly prohibited.
If the User posts, uploads, inputs, provides or submits its Personal data (meaning any information relating to an identified or identifiable natural person) to Kuna Pay, including without limitation, names, email addresses, IP addresses, cryptocurrency addresses, texts, code or other information and materials, sign up to Kuna Pay’s mailing list or create the Account (collectively, “User Content”), the User must ensure that the User Content at that or at any other time is true, accurate, up to date and complete and that any User Content posted, uploaded, input, provided or submitted to Kuna Pay does not breach or infringe the intellectual property rights of any third party. Kuna Pay does not own, control or endorse any User Content that is sent to Kuna Pay. The User represents and warrants that:
The User is responsible for maintaining the confidentiality of the User Content and any of its non-public information. Furthermore, the User is entirely responsible for any and all activities that occur under the Account. The User agrees to notify Kuna Pay immediately of any unauthorized use of the User Content, the Account or any other breach of security. Kuna Pay will not be responsible or liable for any loss or damages that the User may incur as a result of someone else using the User Content or the Account, either with or without User’s knowledge. However, the User could be held liable for losses, expenses and costs incurred by Kuna Pay or another party due to someone else using the User Content or the Account. The User may not use anyone else’s content or account at any time without the permission of such person or entity.
By posting, uploading, inputting, providing or submitting the User Content to Kuna Pay, the User grants Kuna Pay and any necessary sub-licensees a non-exclusive, worldwide, perpetual, right and permission to use, reproduce, copy, edit, modify, translate, reformat, create derivative works from, distribute, transmit, publicly perform and publicly display the User Content and sub-license such rights to others.
Although Kuna Pay has no obligation to screen, edit or monitor the User Content, Kuna Pay reserves the right and has absolute discretion, to remove, screen or edit the User Content. Still, in case of updating previously provided User Content, the latter shall notify Us and submit the necessary information within 5 (five) calendar days from changes occurrence.
We do not endorse any User Content or any opinion, recommendation, or advice expressed therein, and We expressly disclaim any and all liability in connection with User Content. We do not permit copyright infringing activities and infringement of intellectual property rights on the Website, and We will remove all User Content if properly notified that such User Content infringes on another’s intellectual property rights. We reserve the right to remove User Content without prior notice.
Except for the User Content and Kuna Pay’s communications and all materials therein or transferred thereby, including, without limitation, software, technology, code, images, text, graphics, illustrations, logos, patents, trademarks, service marks, copyrights, photographs, audio, videos, music, and content belonging to other Users (the “Kuna Pay’s Content”), and all Intellectual Property Rights related thereto, are the Kuna Pay’s exclusive property and Kuna Pay’s licensors. Except as explicitly provided herein or in any applicable additional terms and conditions, nothing in this Terms shall be deemed to create a license in or under any such Intellectual Property Rights, and the User agrees not to sell, modify, reverse engineer, license, rent, distribute, copy, reproduce, transmit, publicly display, publicly perform, publish, adapt, edit or create derivative works from any of Kuna Pay’s Content, absent specific consent in writing from Us. Use of the Kuna Pay’s Content for any purpose not expressly permitted by this Terms is strictly prohibited. Accessing the Website and using Services does not vest User with any right, title or interest in the Kuna Pay’s Content and other rights to content which is accessible at the Website or through the Services unless otherwise is provided in this Terms.
We may display third-party content, advertisements, links, promotions, logos and other materials (collectively, the “Third-Party Content”) for User’ s convenience only. We do not approve, control, endorse or sponsor any third parties or Third-Party Content, and We make no representations or warranties of any kind regarding such Third-Party Content, including, without limitation, the accuracy, validity, legality, copyright compliance, or decency of such content. We are not responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services available on or through any such websites or services.
Merchant is granted a paid, limited, commercial, non-exclusive, non-transferable (with an exception listed in clause 3.10 hereof), and revocable license to use the Services as a user of the Services. Fees must be paid in accordance with the terms of Section 12 above.
At Our sole discretion, We may make certain Kuna Pay logos or marks (“Kuna Pay Marks”) available for use by the User and other users to allow the User to identify Kuna Pay as a service provider. We may limit or revoke the User’s ability to use Kuna Pay Marks at any time. The User may never use any Kuna Pay Marks or Kuna Pay IP consisting of trademarks or service marks without Our express permission, or in a manner that may lead people to confuse the origin of the User’s products or services with Ours. Upon termination of the Account, the User will remove any public references to Our relationship from the website.
We have the right to use Merchant’s logo (“Logo”) on Our Website and to promote Our client relations for Our future business. The Logo will not be used in a manner that implies sponsorship or endorsement of any company, product, trademark, person or service by the User. We may display Your logos, information, web-links, social networks and other materials, received from open-sources for the purpose including, but not limited: displaying at Kuna Pay’s online catalog and/or as part of advertising campaigns and/or on Kuna Pay’s marketing materials and/or for promotion of Our service.
These Terms of Use shall apply from the Effective Date and continue thereafter for 1 (one) year. Thereafter, these Terms of Use will automatically be renewed for an additional 1 (one) year period. Still, the provisions of Sections 15 - 17 and others if they are designed to survive after the Terms expiration. All Parties hereto may terminate these Terms at any time by a mutual agreement. Kuna Pay reserves the right to terminate the present Terms anytime. Merchant may terminate these Terms with or without cause by providing a notice to the other Party at least 60 (sixty) calendar days in advance.
Kuna Pay may terminate these Terms immediately without any prior notice in the following cases: (i) termination is required by a Scheme Owner and/or competent authority; (ii) there are significant circumstances that create harm or loss to the goodwill, reputation, safety and/or soundness of a Scheme Owner and/or Us; (iii) excessive fraud level; (iv) the business declared by You differs from the actual business conducted; (v) You submit not only sales from Your own business but also sales by third parties; (vi) You do not have or no longer have the necessary licence to operate business; (vii) You do not observe requirements for the acceptance and submission of the transactions and/or do not duly perform obligations towards the End Users; (viii) You not implement technical, security or other requirements that need to be met for proper provision of services under these Terms and compliance with the Scheme Rules, Terms and applicable laws or You did not do so in due time or in case if You breach the present Terms of Use; (ix) there is evidence to assume that Your financial position has considerably worsened or a petition for the opening of insolvency or similar proceedings over Your assets is filed and (x) due to the other reasons described in these Terms.
Upon termination of these Terms: (i) the User’s rights to use Services shall immediately cease, (ii) the User shall delete all documents and information made available for the provision of Services under these Terms from the User’s data bases, facilities, records, etc., (iii) the User shall delete any references to Our Service (as Payment Method) (including logos, brand names) on the User’s website, mobile app or other distant sale infrastructure unless the User is otherwise authorized to use them.
All of the User’s unsettled obligations under or in connection with these Terms and/or Services rendered shall survive the termination of these Terms and shall be governed by the respective provisions of these Terms until settled in full.
Parties acknowledge that any information exchanged between the Parties in connection with these Terms of use (except that We may use Merchant’s trademarks, logos or other indicia of origin associated with Merchant solely for the purpose of indicating that Merchant is a client of Kuna Pay) are regarded as confidential information. Each Party shall maintain the confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that:
Disclosure of any confidential information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of these Terms of use.
This Section shall survive the termination of these Terms of use for any reason for the period of 3 (three) years.
For non-performance or improper performance of mutual obligations under these Terms, Kuna Pay and You shall be liable in accordance with these Terms and the Applicable Law, unless otherwise provided hereby.
The Website, Content, and Services are provided without any guarantees, conditions, or warranties as to their accuracy, quality, and fit for a particular purpose or need. Kuna Pay does not guarantee that the Website and Services are error-free, reliable, or will operate without interruption. The Website and Content is provided to you on an "AS-IS" basis.
User understands and agrees that Kuna Pay has no control over, and no duty to take any action regarding: failures, disruptions, errors, or delays in processing Virtual Assets that you may experience while using the Services; the risk of failure of hardware, software, and Internet connections; the risk of malicious software being introduced or found in the software underlying Kuna Pay; the risk that third parties may obtain unauthorized access to information stored within Account, including, but not limited to your Wallet address, private key, and mnemonic (backup) phrase; and the risk of unknown vulnerabilities in or unanticipated changes to the Website.
To the fullest extent permitted by Applicable Law You release Kuna Pay from all liability related to any losses, damages, or claims arising from:
Kuna Pay makes no representations concerning any third-party Content contained in or accessed through our Services. Any other terms, conditions, warranties, or representations associated with such content, are solely between you and such organizations and/or individuals.
Kuna Pay shall not be liable for the use or inability to use the Website and Services.
To the maximum extent permitted by Applicable Law, in no event shall Kuna Pay or it’s affiliates liable to the User for any claims, proceedings, liabilities, obligations, expenses, damages, losses or costs in an amount exceeding the amount of fees paid by the User to Kuna Pay for the applicable Services for the 12 months preceding the date of any claim giving rise to such liability or one thousand EURO (EUR 1 000), whichever is greater. This limitation of liability section applies whether the alleged liability is based on contract, tort, negligence, strict liability, or any other basis, even if Kuna Pay has been advised of the possibility of such damage.
To the fullest extent permitted by Applicable Law in no event shall Kuna Pay, its officers, directors, employees, agents, third-party service providers be liable to You or any other person or entity for any direct, indirect, incidental, special, punitive, or consequential damages whatsoever, including any that may result from:
Kuna Pay shall not be liable for any events that may include but are not limited to civil, criminal, and administrative actions that may arise from you using blockchain and Virtual Assets if such use is forbidden or otherwise limited in your country.
Kuna Pay, its officers, directors, employees, and agents do not provide investment advice, financial advice, trading advice, legal advice or any other sort of advice.
To the extent permitted by Applicable Law, You agree to defend, indemnify, and hold harmless Kuna Pay from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses arising from:
In case of any circumstances of insuperable force (i.e. events of extraordinary or insuperable nature) that have occurred and remain in effect beyond the Parties control and that a Party could neither foresee nor prevent for objective reasons, if these circumstances prevent a Party from proper fulfillment of its obligations hereunder, the term for fulfillment of such obligations hereunder shall be extended for the period of the effect of such circumstances of insuperable force. The circumstances of insuperable force shall include wars and other military operations, earthquakes, floods, and other natural disasters, adoption of laws and regulations by state and local authorities, failure of power supply or communication system or other similar circumstances that prevent the Parties from the proper fulfillment of their obligations hereunder.
It is User’s responsibility to determine what, if any, taxes apply to the transactions that User have submitted transaction details for via the Services, and it is User’s responsibility to report and remit the correct tax to the appropriate tax authority. Users agree that We are not responsible for determining whether taxes apply to User’s transactions or for collecting, reporting, withholding, or remitting any taxes arising from any Virtual Assets-related transactions.
It is User’s responsibility to determine partners (B2B) as legal and reliable. Before using any Service each User is obliged to perform KYC procedure with his partners.
IN NO EVENT WILL KUNA PAY BE LIABLE FOR COSTS OF PROCUREMENT OF SUBSTITUTE PRODUCTS OR SERVICES, LOST PROFITS, LOSS OF DATA, LOSS OF ANTICIPATED SAVINGS, LOSS OF BUSINESS OPPORTUNITY OR FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES ARISING OUT OF, OR IN CONNECTION WITH, THESE TERMS. USER WILL NOT HOLD KUNA PAY RESPONSIBLE FOR THE SELECTION OR RETENTION OF, OR ANY ACTS, ERRORS, OR OMISSIONS BY, ANY THIRD PARTY IN CONNECTION WITH THESE TERMS, REGARDLESS OF THE INTENT OF SUCH THIRD PARTY.
You agree to defend, indemnify, and hold harmless Kuna Pay, its affiliates, employees, service providers for and against any and all claims, proceedings, damages, obligations, losses, liabilities, costs or debt, and expenses (including, but not limited to, attorney's fees, fines or penalties imposed by any regulatory authority) arising from:
You may not assign, sublicense, or transfer any right or duty under these Terms. Any assignment, transfer, or attempted assignment or transfer in violation of this Section will be void and of no force or effect. We and Our subsequent assignees may assign, delegate, sublicense, or otherwise transfer from time to time these Terms, or the rights or obligations hereunder, in whole or in part.
Your agreement to these Terms is personal to You and You may not transfer or assign it to any third party.
Kuna Pay shall not be held liable for any delays, failure in performance, or interruptions of service which result directly or indirectly from any cause or condition beyond Kuna Pay’s 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 terrorism, civil disturbance, war, strike or other labor 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 and shall not affect the validity and enforceability of any remaining provisions.
We may from time to time post official announcements, news, notices, etc. (the 'Announcements') on the Website. In no event shall Kuna Pay be liable for any losses arising from you neglecting or ignoring the Announcements.
These Terms shall be governed by and construed and enforced in accordance with the Laws of Republic of Lithuania, and shall be construed in all respects as a contract entered into under the laws of Lithuania.
Should there be any disputes regarding matters stipulated herein, the Parties shall take all measures possible to resolve them by negotiations.
Should the Parties fail to reach an agreement by means of negotiations within 30 (thirty) calendar days, any dispute, controversy or claim arising out of or in connection with these Terms or the breach, termination or invalidity thereof, shall be referred to and finally shall be finally settled by the courts of Lithuania.
This decision shall be final and binding for both Parties, and may be used or produced for enforcement at any court having respective jurisdiction; an application concerning enforcement order may be filed to such competent court if required.
This Section 21 is not applicable for Canadian residents.
These Terms in relation to residents of Canada shall be governed by and construed and enforced in accordance with the Laws of the Province of British Columbia and applicable Canadian law, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction.
Should there be any disputes regarding matters stipulated herein, the Parties shall take all measures possible to resolve them by negotiations.
Should the Parties fail to reach an agreement by means of negotiations within 30 (thirty) calendar days, any dispute arising from these Terms or related hereto, shall be settled by arbitration. The appointing authority shall be ICDR Canada in accordance with its Arbitration Appointing Authority Rules.
This Section 23.1. is applicable for Canadian residents only.
These Terms of Use shall remain in force until terminated either by You or Kuna Pay. We may terminate these Terms of Use at any time at Our own discretion without explaining the reasons for this decision.
If any questions have not been regulated by these Terms, they shall be regulated under the Applicable Law.
In the event these Terms of Use are available in multiple languages, the English version shall prevail.
All provisions of these Terms of Use applicable to the Website shall apply to others means of providing Services, including the App (if applicable) unless specifically stated otherwise.
We have the right to unilaterally change these Terms of Use. The changes take effect immediately after the moment the new version of Terms of Use is published on the Website. If the User does not accept a new edition of the Terms of Use, they must stop using the Website and Services.
These Terms (including any other documents incorporated by reference herein) comprises the entire agreement between Us and the User regarding the Services provision hereunder. These Terms supersedes all proposals, representations, claims, and communications in all forms of media (including all instructions, advertisements, messages), written and oral, regarding the subject matter contained herein. Certain Services may be subject to additional terms and conditions specified by Us from time to time, and Your use of such Services is subject to those additional terms and conditions, which are hereby incorporated into these Terms by reference.
Parties are independent contractors. No partnership, joint venture, employee-employer, agency, or franchisor-franchisee relationship is intended or created by this Agreement.
If any provision of these Terms is determined to be invalid or unenforceable under any applicable law, this will not affect the validity of any other provision of Terms.
Our failure to enforce any threatened or existing violation, default or breach of these Terms of use shall not be deemed a waiver of such a violation, default or breach, and We shall have the right to enforce the same at a later time and the right to waive in writing any provision or condition imposed herein for Our benefit without thereby waiving any other provision or condition.
All provisions of these Terms will continue to be binding and operate after the termination or expiration of Terms or the Account, if it is specifically noted in Terms. Such provisions without limitation, include the sections relating to suspension or termination, Account cancellation, debts owed to Kuna Pay, general use of the Website, IP matters, indemnification and some other provisions will continue to be binding and operate after the termination or expiration of Terms of use or your Account.
UAB Kuna Pro is registered as a crypto currency exchange operator and a crypto currency wallet operator and is authorized to provide virtual currency services in accordance with Lithuanian legislation.
The site and other components of the services are protected by intellectual property laws. All rights reserved. Access to the services and the site is provided under the KUNA trademark registered in the Madrid system, which covers the UK, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Turkey, Ukraine, and the European Union.
