Terms of service

Race-Cap AG (“Race-Cap AG", “we", “us", “our") is established in accordance with the laws of Switzerland with the commercial Register number: CH-020.3.046.151-4, and its registered office is located in Genève, Switzerland. Our website (“Website”) is https://www.racecap.ch, (Registration https://kyc.racecap.ch/register / Platform https://portal.racecap.ch/login)

Race-Cap AG is a duly affiliated financial intermediary with VQF, a self-regulatory organization (SRO) officially recognized by the Swiss Financial Market Supervisory Authority (FINMA).

Race-Cap AG provides stablecoin on and off ramping services through the platform a ("Platform").

The following terms and conditions define the rights and obligations of the parties in connection with the use of the Platform.

By using and directly or indirectly interacting with the Platform, you as a User (“User", “You", “you") explicitly acknowledge and accept these Terms, and acknowledge that you have read and understood these Terms. IF YOU DO NOT AGREE WITH ALL OF THESE LEGAL TERMS, THEN YOU ARE EXPRESSLY PROHIBITED FROM USING OUR SERVICES AND YOU MUST DISCONTINUE USE IMMEDIATELY.

A link to these Terms will be available here https://racecap.ch/terms-of-service.html. These Terms may be updated by Race-Cap AG at any time without any obligation to provide prior notice.

1 Terms of Service

1.1 Our Services

To be able to use our services, you guarantee and declare that:

  • You comply with the Platform’s Terms of Service and you are not acting on behalf of others or in their interest.
  • You have full power and authority to enter into this legal relationship, and by doing so, you will not violate any other legal relationships.
  • You are responsible for managing your tax matters, including the filing and payment of any tax declarations and compliance with applicable tax laws and regulations in your country of residence and/or citizenship, and that your funds and/or crypto assets passing through our services have been, or will be, duly declared to the tax authorities of your country of residence and/or citizenship.
  • You will not use our services or immediately cease to do so if you are, or become, a resident at any time of the state or region where the crypto asset transactions you intend to carry out are prohibited or require any special approval, permit, and/or authorization of any kind, which Race-Cap AG and/or you have not obtained in that state or region.
  • You will not use our services or immediately cease to do so if any applicable law in your country prohibits or will prohibit you from doing so at any time.
  • You are not and cannot be considered a U.S. person.

Furthermore you agree and warrant that you will not violate any law, contract, third-party right, or commit any wrongdoing by accessing or using our service, and you are solely responsible for your actions and/or omissions while using our service.

Without prejudice to the above, you represent, agree, and warrant that you will NOT:

  • Use our service to support or engage in illegal activities.
  • Provide false, inaccurate, or misleading information.
  • Exploit possible bugs in the Website.

In the event of identification, it is your responsibility to keep the provided data updated by promptly notifying Race-Cap AG of any changes that occur.

1.2 KYC/AML

Under Swiss law, the exchange of FIAT money to cryptocurrencies or vice versa is subject to anti-money laundering obligations (AML). Race-Cap AG has implemented internal procedures in accordance with the Swiss Federal Law on the Prevention of Money Laundering and Terrorism Financing and related regulations to ensure that its services are not used for criminal purposes and obtain Know Your Customer (KYC) information from the User (the “AML Requirements"). The User confirms that the funds and/or crypto assets involved in our service come from a legitimate source. The User declares and warrants not to use Race-Cap AG services for illegal activities or engaging in any behaviour that is unlawful, violates this Agreement, or is otherwise deemed unacceptable by Race-Cap AG at its sole discretion.

Based on the risk assessment of the relationship in accordance with the AML Requirements or in the event that Race-Cap AG has concerns regarding the information, documents, or the source of funds, Race-Cap AG has the right to request additional documents, information, or proof of the source of funds from you, or to immediately terminate the relationship without any justification without any liability to Race-Cap AG and no compensation to you.

1.3 User Representations

By using the Services, you represent and warrant that:

  • You have the legal capacity and you agree to comply with these Legal Terms;
  • You will not access the Services through automated or non-human means, whether through a bot, script or otherwise;
  • You will not use the Services for any illegal or unauthorized purpose;
  • Your use of the Services will not violate any applicable law or regulation;
  • You are not and cannot be considered a U.S. person.

If you provide any information that is untrue, inaccurate, not current, or incomplete, we have the right to suspend or terminate your account and refuse any and all current or future use of the Services (or any portion thereof).

1.4 Refunds Policy

Usually the purchase and sale of cryptocurrencies through RaceCap’s services are final, and no refunds or cancellations are provided. By placing an order to buy/sell cryptocurrencies, the User submits a binding offer to purchase/sell the chosen cryptocurrencies.

However, you can submit a request for order cancellation or refund, by email along with a justification, and Race Cap AG will decide whether to accept it or not. Please note that fees may apply, and the refunded amount may be adjusted based on market fluctuations at the sole discretion of Race Cap AG.

1.5 Contribution License

You agree that we may access, store, process, and use any information and data or personal data that you provide according to the Privacy Policy.

1.6 Termination of Service

It is entirely at the User’s discretion whether they wish to continue using the service offered by Race-Cap AG or not.

Race-Cap AG may also terminate its services for the User at any time, for any reason, at its sole discretion. The User agrees and acknowledges that Race-Cap AG assumes no responsibility regarding the termination of the provided services.

1.7 Privacy Policy

We care about data privacy and security. By using the Services, you agree to be bound by our Privacy Policy.

1.8 Governing Law, Mediation and Jurisdiction

These Legal Terms are governed by and shall be construed in accordance with the laws of Switzerland, without regard to its principles of conflicts of law. In the event of any dispute arising out of or relating to these Legal Terms, both Race-Cap AG and you are committed to first seeking resolution through mediation, as outlined in section 1.8.1.

If mediation does not successfully resolve the issue, both parties agree to submit to the exclusive jurisdiction of Court in Obwalden located in Obwalden, Switzerland. This agreement confirms that the courts of Obwalden will handle any further legal proceedings following an attempt at mediation.

1.8.1 Mediation

In the event of any dispute arising out of or relating to these Legal Terms, prior to initiating any formal legal proceedings, Race-Cap AG and you agree to first attempt to resolve the conflict amicably through mediation. The mediation will be conducted by a neutral, qualified mediator mutually agreed upon by both parties. The mediation process shall take place in Obwalden, Switzerland, or at another location mutually agreed upon by the parties. Each party shall bear their own costs related to the mediation, and the costs of the mediator shall be shared equally between the parties. Participation in mediation is required as a precondition to pursuing any further legal action in court.

1.9 Corrections

There may be information on the Services that contains typographical errors, inaccuracies, or omissions, including descriptions, pricing, availability, bugs, and various other information. We reserve the right to correct any errors, inaccuracies, or omissions and to change or update the information on the Services at any time, without prior notice.

1.10 Limitations of Liability

In no event will we be liable to you or any third party for any direct, indirect, consequential, exemplary, incidental, special, or punitive damages, including lost profit, lost revenue, loss of data, or other damages arising from your use of the services, even if we have been advised of the possibility of such damages.

1.11 Indemnification

You agree to defend, indemnify, and hold us harmless, including our subsidiaries, affiliates, and all our respective officers, agents, partners, and employees, from and against any loss, damage, liability, claim, or demand, including reasonable attorney’s fees and expenses, originated from:

  • use of our services;
  • breach of these Legal Terms.

Notwithstanding the foregoing, we reserve the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, and you agree to cooperate, at your expense, with our defense of such claims. We will use reasonable efforts to notify you of any such claim, action, or proceeding which is subject to this indemnification upon becoming aware of it.

1.12 Intellectual Property Rights

All content provided through our services, including but not limited to text, graphics, logos, icons, images, audio clips, digital downloads, and software, is owned by Race-Cap AG or its content suppliers. This content is protected under Swiss and applicable international copyright laws. Unauthorized use, reproduction, or distribution of this material is strictly prohibited.

1.13 Modification of Terms

Race-Cap AG reserves the right to modify or amend these Terms of Service at any time without prior notice. Any changes to these terms will be effective immediately upon posting on the Race-Cap AG website. Users are encouraged to review these terms regularly to stay informed of any updates. Continued use of the Race-Cap AG services following the posting of changes to these terms constitutes acceptance of those changes. If a user disagrees with any modifications to the terms, their sole recourse is to discontinue using the Race-Cap AG services.

1.14 Service Interruptions and Availability

Race-Cap AG endeavours to ensure the reliability and availability of its services but does not guarantee uninterrupted service. The services may be temporarily unavailable due to maintenance, system updates, technical issues, or any other reasons. Race-Cap AG shall not be liable for any disruption, inconvenience, or loss resulting from such unavailability. Users are advised to verify the availability of the webpage before conducting on and off ramping requests.

1.15 User Account Security

You are responsible for maintaining the confidentiality of your account credentials, including your password, and for all activities that occur under your account. You agree to:

  • Not disclose your password or allow anyone else to use your account.
  • Immediately notify Race-Cap AG of any unauthorized use of your account or any other breach of security.
  • Ensure that you exit from your account at the end of each session when accessing the service.

Race-Cap AG will not be liable for any loss or damage arising from your failure to comply with these requirements.

1.16 Contact Us

To resolve a complaint regarding our services or to receive further information regarding use of our services, please contact us at:

Race CAP AG

info@racecap.ch

Terms of Service Privacy policy

Race CAP AG, a company incorporated under the laws of the Swiss Confederation in the canton of Obwalden is an SRO member of VQF, an officially recognized self-regulatory organization (SRO) according to the Swiss Anti-Money Laundering Act.

Copyright © 2024 Racecap, All rights reserved.