Alcor Exchange Clause Samples
The 'Alcor Exchange' clause defines the use of the Alcor Exchange platform for conducting transactions or trading digital assets within the agreement. It typically specifies that all relevant trades, transfers, or settlements between parties will be executed through the Alcor Exchange, outlining any necessary procedures or requirements for using the platform. By designating a specific exchange, this clause ensures consistency, transparency, and security in the execution of digital asset transactions, reducing ambiguity and potential disputes over transaction methods.
Alcor Exchange keeps a record of the Money transferred to the Wallet. Money transfers during the Wallet replenishment as well while executing Deals between the Users are carried out by financial institutions – banks, payment systems, aggregators and other facilitators (hereinafter referred to as Payment agents). Alcor Exchange does not keep User’s Money and is not liable for actions of these third parties.
Alcor Exchange and its affiliates are not liable for lost profits, as well as direct or indirect losses of the User, unless otherwise provided by applicable law.
Alcor Exchange does not accept orders to perform any operations with the Account of the User from third parties, unless otherwise stipulated by law, the Agreement or other agreements between the Parties.
Alcor Exchange commits to receive Digital Assets from User, keep them, keep a record of them, execute transactions and provide them to the User upon request.