Terms of ServiceLast updated on September 15th, 2018
Right to use the Service
RxEAL is a platform for trustless and safe security deposit storage on the Ethereum blockchain providing a decentralized dispute resolution with the main focus on real estate and automotive rental markets.
- The Users of RxEAL Platform can also be recognized specifically as:
- Party who rents a property is "Lessor";
- Party who is renting a property is "Tenant";
- Property that is rented is "Property";
- Party who is arbitrating is "Arbitrator";
- Agreement between lessor and tenant ("Agreement") - agreement on terms and conditions between lessor and tenant renting a property. Agreement is verified by confirming the agreement in RxEAL platform. The changes in the agreement can be applied;
- Platform enables lessors and tenants to hold safety deposit and make dispute resolution via third party arbitration.
- These Terms of Services ("Terms", or "Terms of Services") constitute a framework agreement which sets out the terms effective between User and RxEAL entering into platform and the use of RxEAL platform. Before using RxEAL platform, RxEAL requires you to carefully:
- read these Terms;
- provide your personal information, documentation and other information ("Personal information") which either we or third parties will request from you in order to comply with RxEAL policies;
- provide accurate, correct and valid personal identification information during the process of creating and verifying RxEAL account;
- confirm that you understood information provided and you agree with these Terms of Services;
- Platform Terms incorporate the other terms released by RxEAL and any supplements by this reference;
- After you completed the registration procedures we shall make the Platform dashboard available to you;
- RxEAL notes you that Platform is not responsible for any losses that occur due and takes no responsibility for the submission of invalid, incorrect or inaccurate Personal information.
Content ownership and security
Each party retains full ownership to data and any information which is being submited to RxEAL. RxEAL don’t claim any ownership to any parties’ content.
However, parties agree that RxEAL may collect and store some information which is needed to run the RxEAL platform (e.g. contact and billing information, email address, etc.).
Security and responsibility
Each party is solely responsible and liable for any content which is being uploaded or shared by using RxEAL services. Parties hereby agree and undertake:
- To comply with all applicable laws, rules and regulations;
- Not to use the Service for any illegal purposes;
- RxEAL sole function is to provide platform that can be used for smart contract creation. Each party has responsibility to check if particular smart contract can be used for its purposes and RxEAL takes no responsibility on any smart contracts that are made by ether parties via RxEAL platform. RxEAL is not providing any advice or service that can be used for smart contract development;
- RxEAL has no control with regard to the transactions made by its users using the services. RxEAL are not responsible for the legality of any transaction that has been made between any parties that are using the RxEAL platform. Parties acknowledge that they are fully responsible when they use the share functions of the patform with any third parties. RxEAL is not liable for any loss or damage arising from any unauthorized use of any parties account;
- In the event RxEAL have a reason to believe that an unauthorized person uses any particular account or any other unauthorized use of services has occured, RxEAL has the right, at its sole discretion and without prior notice, to suspend or disable such account, or take any action to avoid any unauthorized use. Party must contact RxEAL as soon as it suspects misuse of his/her account or any security breach in the Platform. RxEAL cannot be held liable if an unauthorized person gets access to parties’ account.
Pricing and payments
RxEAL charges fee proportionately from the sum of safety deposit that is held in RxEAL platform. All deposits that equal 1500 USD (one and half thousand USD) or less are charged in amount of 2.3% (two point three percent) of safety deposit and all deposits that exceeds 1500 USD (one and half thousand USD) are charged in the amount of 34.5 USD (thirty four and half USD) plus 0.3% (zero point three percent) of safety deposit.
Arbitrators will receive amount equivalent to 9 USD (nine USD) per arbitration.
All fees are paid via RXL tokens. Amount of tokens are equal to respective exchange rates (RXL/ETH and ETH/USD) that are calculated at 12:00 GMT of respective day when transaction was made.
Pricing in USD is done only for calculation of fees. No actual USD payments are or will be made via RxEAL platform.
Pricing models are subject to change if we find another model more suitable and beneficial for our clients.
Termination of service
Termination of service is stipulated by agreement that is made by lessor and tenant. Parties can stipulate when they start to use RxEAL platform and on what conditions they terminate the service at their own discretion.
RxEAL may terminate account for cause immediately upon notice if:
- RxEAL have a reason to believe that any party are, or parties account has been used in breach of these Terms or any applicable laws. In such case RxEAL will terminate the Agreement without any prior notice;
- RxEAL are unable to verify or authenticate provided information;
- In order to comply with the applicable mandatory laws or, to comply with the final court order of a competent judicial body;
- Parties agree that they stop any use of the Service;
- All disclaimers, limitations of warranties and damages, and confidential commitments set forth in these Terms or otherwise existing at law survive any termination, expiration or rescission of these Terms.
All contents of the site https://www.rxeal.com/ and Service including but not limited to design, logo, trademarks, domain names, texts, graphics, patents, any other intellectual property or proprietary rights (Platform Content) are protected by copyright and other intellectual property laws, and owned by RxEAL and/or its suppliers, affiliates or licensors.
Unless RxEAL have specifically permitted herein, no portion of the Platform Content may be reproduced, modified, distributed, published in any form, or by any means, without prior written permission from RxEAL. RxEAL does not give any license to its intellectual property. Any rights not expressly granted herein are reserved, and no title to or ownership of any proprietary rights related to the Service is transferred to any party pursuant to these Terms.
Updates and changes to the Platform
As part of the development of the Service, RxEAL has the right, in its sole discretion, anytime to add new features, to modify or discontinue features of the platform.
Material Change(s) means a substantive Change that would be of importance or consequence to the party, which may include changes to privacy practices, meaning changes relating to practices regarding notices, disclosure, use and collection of submitted data, or measures for data security, integrity, or access.
Material Changes do not include any changes which solely affect the performance or integrity of the Platform, such as increases in speed, reliability, or information security.
RxEAL has the right to make any Changes without prior notice.
Compliance with Laws
Party agrees to comply with all applicable laws, statutes and regulations relating to use of the Platform.
Each party is responsible to comply to any laws and regulatory requirements that might be applicable to their respective rent transaction.
Party acknowledges that violations of these Terms could subject to criminal or civil penalties.
RxEAL operates and develops the Platform with reasonable care and skill and will use reasonable commercial efforts to promptly remedy any faults of which it is aware of. However, RxEAL provide the Platform “as is” and “as available”, without express or implied warranty or condition of any kind. To the maximum extent permitted by applicable laws, RxEAL also disclaim any warranties of merchantability, fitness for a particular purpose or non-infringement or any warranty that the Service are of any particular quality or purpose.
Disclaimer of liability
RxEAL liability for simple negligence and for auxiliary persons is excluded. To the maximum extent permitted by the applicable laws, RxEAL shall in no event be liable for any lost profits, revenues, or business opportunities, loss of use, loss of data, loss of confidential or other information, business interruption and any other direct, indirect, special, incidental, criminal, subsequent or consequential damages whatsoever, whether based on contract, tort, negligence, product liability or otherwise, arising out of or in any way related to the use of or inability to use the Platform or the support and maintenance services (if any) by any party, regardless whether RxEAL has been advised or should have had knowledge of the possibility of such damages.
RxEAL will not be liable to any person for failure to perform or any delay in the performance of the Platform due to fire, flood, war, riot, strike, explosion, lock out, injunction, natural disaster, interruption of transportation, acts of war, terrorism, labor disputes, acts of civil or military authority, power blackouts, computer viruses, or any other event beyond reasonable control of RxEAL.
Party shall indemnify, defend, and hold harmless RxEAL and its employees, affiliates, contractors, and agents from and against any and all claims, damages, losses, liabilities, suits, actions, demands, proceedings (whether legal or administrative), and expenses (including, without limitation, reasonable attorneys’ fees) arising from or related to:
- Any breach of these Terms;
- Any infringement of Protected Content;
- Any fraud or manipulation.
RxEAL will reasonably notify of any such claim or demand that it is subject to indemnification obligation.
Infringement of copyrighted materials
RxEAL will respond to notices of alleged copyright infringement if they comply with the applicable law and are properly provided to us. We will take whatever action we deem to be appropriate, in our sole discretion, such as deleting or disabling content alleged to be infringing and to suspend or terminate Services and accounts.
All infringement notifications must include:
- Identification of the Protected Content claimed to be infringed;
- The copyright owner’s contact information (including mailing address, telephone number, and email address).
You agree not to misuse the Platform or assist any third party to, or attempt to:
- Use the Platform, directly or indirectly, to offer any service that competes with the Platform;
- Participate in any group that encourages violation of these Terms;
- Probe, scan, or test the vulnerability of any system or network;
- Participate in any activity which interferes or may interfere with the efficiency of the Platform;
- Use the Platform in a way that infringes Protected Content;
- Use the Platform to collect, store or transmit personal data of any person without such person’s consent;
- Store or transmit any software or data containing any virus, malware, trojan, spyware or other software or program code that is malicious in nature.
- Send untruthful abuse reports;
- Violate the law in any way, or to violate the privacy of others, or to defame others.
Changes in Terms
RxEAL may revise these Terms from time to time due to changes in Platform and applicable law. Any revision that will be made by RxEAL will be shown on “Last Updated” version of Terms posted on website. If any party do not agree to the new terms, terminate the use of Platform.
Governing law and Jurisdiction
Any dispute between the Parties and RxEAL arising out or relating to these Terms, including those associated with the change, termination, execution, invalidity or interpretation thereof, will be resolved in the International Arbitration Court (‘IAC’) of the Belarusian Chamber of Commerce and Industry (‘BelCCI’) for consideration in accordance with the regulations thereof. Number of arbitrators shall be 3 (three), the place of hearing –Minsk, Republic of Belarus, the language of proceedings shall be English.
No Class Arbitrations, Class Actions or Representative Actions. Any dispute arising out of or related to these Terms is personal to the Party and the RxEAL, and all such disputes (without reservation) will be resolved solely through individual court proceeding sand will not be brought as a class action or any other type of representative proceeding.
If any provision of these Terms is held invalid, illegal or unenforceable, such provision shall be enforced to the fullest extent permitted by applicable law and the validity, legality and enforceability of the remaining provisions shall not be affected thereby.
These Terms and all associated documentation to which they refer to constitute the entire and exclusive agreement between Party and RxEAL with respect to the Platform, and supersede and replace any prior representations, understandings, contract or oral or written statements regarding Parties use of the Service or the subject matter of these Terms.
Expiration of claims
Parties agree that except for claims related to the indemnification obligations above, all claims arising under or related to these Terms must be brought within (1) one year after the date the cause of action arose.
The failure of either party to enforce a provision is not a waiver of its right to do so later. The waiver by RxEAL of any breach shall not be deemed a waiver of any subsequent breach of the same or any other term of these Terms.
Third party services and content
The Service may contain features and functionalities linking or providing Party with certain functionality and access to third party websites and services. RxEAL has no influence on the contents of these linked pages, dissociates itself herewith explicitly from all such contents, and makes no warranty whatsoever with respect to such links, websites, or services.