User Agreement

Effective Date: December 1st, 2014. Last updated: September 15th, 2014.

This User Agreement ("Agreement") is a contract between you and Bitcoin Builder and applies to your use of Bitcoin Builder services. You must read, agree with and accept all of the terms and conditions contained in this Agreement.

This is an important document which you must consider carefully when choosing whether to use Bitcoin Builder services.

Please note the following risks of using Bitcoin Builder services:

Holding bitcoin is high risk. The price or value of bitcoin can change rapidly, decrease, and potentially even fall to zero.

A bitcoin transaction may be unconfirmed for a period of time (usually less than one hour, but up to one day) and never complete if it is in a pending state.

You agree that disputes between you and Bitcoin Builder will be resolved by binding, individual arbitration and you waive your right to participate in a class action lawsuit or class-wide arbitration.

1. Our Relationship with You.

1.1 Bitcoin Builder allows you to borrow bitcoins or other assets, backed by the assets in your Bitcoin Builder account. Bitcoin Builder also provides a wallet service where you can store your bitcoin and other assets. Bitcoin Builder also allows users to buy and sell bitcoin and other assets. Bitcoin Builder is an independent contractor for all purposes. Bitcoin Builder is not a money transmitter. Bitcoin Builder assists its users in crypto-currency transactions.

1.2 Your Privacy. Protecting your privacy is very important to Bitcoin Builder. Please review our Privacy Policy in order to better understand our commitment to maintaining your privacy, as well as our use and disclosure of your information.

1.3 Intellectual Property. "Bitcoin Builder", and all logos related to Bitcoin Builder services are either trademarks, or registered marks of Bitcoin Builder or its licensors.

1.4 Password Security and Keeping Your Email and Address Current. You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access Bitcoin Builder services. You are responsible for keeping your email address up to date in your Account Profile.

1.5 Notices to You. You agree that Bitcoin Builder may provide you communications about your Account and Bitcoin Builder services electronically.

1.6 Notices to Bitcoin Builder. We prefer receiving notices to Bitcoin Builder electronically at [email protected] Paper notifications can also be sent to Bitcoin Builder, Inc. 604 Arizona Ave, Santa Monica CA 90401

2. Accounts.

2.1 Eligibility. To be eligible to use Bitcoin Builder services, you must be at least 18 years old (19 in Alabama and Nebraska).

2.2 Identity Authentication. If you wish to buy or sell bitcoin through Bitcoin Builder, you authorize Bitcoin Builder, directly or through third parties, to make any inquiries we consider necessary to validate your identity.

2.3 Third Party Applications. If you grant express permission to a third party to connect to your Bitcoin Builder account, either through the third party's product or through Bitcoin Builder, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold Bitcoin Builder responsible for, and will indemnify Bitcoin Builder from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant. You may change or remove these permissions at any time from the Settings (API Keys) page.

2.4 Taxes. It is your responsibility to determine what, if any, taxes apply to purchases, sales, or loans you make, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. Bitcoin Builder is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.

3. Bitcoin.

3.1 Bitcoin Builder may cancel or reverse potentially high-risk buys or sells of bitcoin, including those made using reversible payment methods.

3.2 Bitcoin Builder does not cancel or reverse bitcoin-to-bitcoin transactions, as long as they are accepted and confirmed on the bitcoin network.

3.3 Bitcoin Builder users are in control of their bitcoin at all time, and Bitcoin Builder keeps 100% of customer funds in storage. Bitcoin Builder does not engage in fractional reserve lending.

3.4 In the event Bitcoin Builder needs to retrieve funds from offline storage, there can be a delay in sending coins of up to 48 hours.

3.5 When buying or selling bitcoin, you are buying or selling from Bitcoin Builder directly. Bitcoin Builder does not act as an intermediary or marketplace between other buyers and sellers of bitcoin.

3.6 Bitcoin Builder does not guarantee the value of bitcoin. You acknowledge that the price or value of bitcoin can change rapidly, decrease, and potentially even fall to zero. You acknowledge that holding bitcoin is high risk. You agree to deliver the agreed upon payment for bitcoin upon confirmation of an order, regardless of changes in bitcoin value.

3.7 Bitcoin Builder reserves the right to set or change buy/sell/borrow limits on your account as we deem necessary.

4. Restricted Activities.

4.1 Restricted Activities. In connection with your use of Bitcoin Builder services, other users, and third parties you will not:

Violate any law, statute, ordinance, or regulation (for example, those governing financial services, controlled substances, or consumer protections);

Intentionally try to defraud Bitcoin Builder or other Bitcoin Builder users.

Infringe Bitcoin Builder's or any third party's copyright, patent, trademark, or intellectual property rights.

Provide false, inaccurate or misleading information.

Take any action that imposes an unreasonable or disproportionately large load on our infrastructure; or detrimentally interfere with, intercept, or expropriate any system, data, or information.

5. Disputes with Bitcoin Builder.

5.1 Indemnification. You agree to indemnify and hold Bitcoin Builder, its parent, the officers, directors, agents, joint venturers, and employees harmless from any claim or demand (including attorneys’ fees) arising out of your breach of this Agreement or your use of Bitcoin Builder services.

5.2 Release of Bitcoin Builder. If you have a dispute with one or more users, you release Bitcoin Builder (and our parent, officers, directors, agents, joint ventures, employees and suppliers) from any and all Claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. In addition, you waive any protection available to you under California Civil Code §1542, which says: [a] general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if not known by him must have materially affected his settlement with the debtor.

5.3 Disputes with Bitcoin Builder. If you think we have made an error, write to us at Bitcoin Builder, Inc. 604 Arizona Ave, Santa Monica, CA 90401, USA, or email us at [email protected] In your correspondence, you must give us information sufficient to identify you, your account, and the transaction on which you believe an error occurred. You must contact us within 30 days after the transaction occurred. Within 90 days of receiving your request, we must either correct the error or explain to you why we believe the transaction was correct.

6. General Provisions.

6.1 Limitations of Liability. IN NO EVENT SHALL WE, OUR PARENT, THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF Bitcoin Builder OR OUR PARENT BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH OUR WEBSITE, Bitcoin Builder SERVICES, OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE). Some states do not allow the exclusion or limitation of incidental or consequential damages so the above limitation or exclusion may not apply to you. OUR LIABILITY, AND THE LIABILITY OF OUR PARENT, OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES.

6.2 No Warranty. Bitcoin Builder SERVICES ARE PROVIDED "AS IS" AND WITHOUT ANY REPRESENTATION OF WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. Bitcoin Builder, OUR PARENT, THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF Bitcoin Builder OR OUR PARENT SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. Bitcoin Builder does not guarantee continuous, uninterrupted or secure access to any part of Bitcoin Builder services, and operation of our site may be interfered with by numerous factors outside of our control. Bitcoin Builder will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards, and check issuances are processed in a timely manner but Bitcoin Builder makes no representations or warranties regarding the amount of time needed to complete processing because Bitcoin Builder services are dependent upon many factors outside of our control, such as delays in the banking system or the U.S. or international mail service. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you. This paragraph gives you specific legal rights and you may also have other legal rights that vary from state to state.

6.3 Arbitration. Except for claims for injunctive or equitable relief or claims regarding intellectual property rights (which may be brought in any competent court without the posting of a bond), any dispute arising under this Agreement shall be finally settled on an individual basis in accordance with the American Arbitration Association's rules for arbitration of consumer-related disputes and you and Bitcoin Builder hereby expressly waive trial by jury. The arbitration shall take place in Santa Monica, California, in the English language and the arbitral decision may be enforced in any court. The prevailing party in any action or proceeding to enforce this Agreement shall be entitled to costs and attorneys’ fees.

6.4 Time Limitation on Claims. You agree that any claim you may have arising out of or related to your relationship with Bitcoin Builder must be filed within one year after such claim arose; otherwise, your claim is permanently barred.