1. Overview

1.1 This agency purchasing service (the "Service" or "Services") is offered by BingX as a value-added service to BingX users so that they can purchase, storage and redeem certain specified profit-earning Digital Assets at the BingX Platform, pursuant to the following terms and conditions. BingX is responsible for the product design management and the operation of the Service. In order to use the Service, you should read and abide by this agency purchasing user agreement (this "Agreement"). Please be sure to read carefully, fully understand and agree to the terms of this Agreement.

1.2 Unless you have read and accepted all the terms of this Agreement, you are not authorized to or should not use the Services. Your acceptance of this Agreement and your use of the Services represents that you have read, understood and agreed to this Agreement and that this Agreement is legally binding on you.

1.3 This Agreement shall supplement our BingX Customer Agreement In the event of any conflict or inconsistency of any term or provision set forth in this Agreement, our BingX Customer Agreement, such conflict or inconsistency shall be resolved by giving precedence first to the BingX Customer Agreement. All other provisions of our BingX Customer Agreement are not modified by this Agreement shall remain in full force and effect.

 

2. Definitions

2.1 The Service is a savings-oriented product that BingX provides as a digital asset value-added Service to BingX users for flexible returns. BingX users shall be able to earn market-based returns from subscribing and/or participating in the Service.

2.2 The Service allows BingX users to store and lock up their Digital Assets at the BingX Platform to facilitate other services provided by BingX and earn returns. Subscription and redemption are supported 24/7 at the BingX Platform.

2.3 The Service is provided by BingX and secured by BingX's reliable risk management system and Users can earn returns while their Digital Assets in the program.

2.4 "Service Fee" refers to the fees a user may pay, at BingX’s absolute discretion, to BingX when subscribing or participating in the Service.

2.5 Other definitions relating to the Services include:

T hour: An hour in a normal trading day based on Hong Kong time (UTC+8).

T day: A natural day based on Hong Kong time (UTC+8).

Principal: Amount of Digital Assets being stored in the User's Account for the purpose of using the Service.

Redemption: The transfer back to the User's Account of the Digital Asset stored in the Service.

 

3. Eligibility to Use the Service

3.1 You agree and confirm:

a. BingX is holding or storing your Digital Assets, in whole or in part;

b. BingX is merely an appointed agent under this Agreement, not a custodian or trustee of your Digital Assets and therefore will not be carrying out any actions on your behalf based on Digital Asset ownership or any other similar position;

c. BingX is acting as a validator on an applicable network; and

d. BingX may specify, from time to time, in relation to the Service,

  1. minimum amounts of Digital Assets required to be stored in order to subscribe to the Service;
  2. any redemption period;
  3. any redemption limits; and/or subscription limits.

3.2 You also understand and confirm:

  1. You have agreed to abide by BingX Customer Agreement as posted on our website and revised from time to time, and that you are eligible and are permitted to use the Services defined therein;
  2. If you are registering for the Service in your personal capacity, in order to effectively accept this Agreement, you must be at least 18 years old, with full civil rights and civil capacity, and have all the necessary authorities and abilities to enter this Agreement. Once entered, it is binding on you;
  3. If you are registering to use the Service on behalf of a legal entity, in order to effectively accept this Agreement, you declare and guarantee that (i) such legal entity is legally established and valid in accordance with applicable laws; (ii) you are duly authorized by the legal entity to have the right to act on their behalf;
  4. You have the experience and risk tolerance required to use the Service, and have the experience and knowledge necessary to invest in non-guaranteed digital currency products;
  5. In order to use the Service, you have the ability to perform operations on the Internet;
  6. This Agreement does not conflict with the laws of your country or region, and you agree to comply with the laws of your country or region;
  7. You are the legal owner of all the Digital Assets in your BingX Account and guarantee that the sources of these Digital Assets are legal.

3.3 You further agree and promise:

  1. You will not use the Service for any illegal purposes, including but not limited to illegal gambling, money laundering, fraud, extortion, data breaches, terrorist financing, and any other violent activities or any businesses prohibited by the law.
  2. You will not conduct, initiate or promote any forms of market manipulation, price manipulation, insider dealing, market distortion or any other malicious acts with respect to the market,
  3. You will not engage in any other forms of illegal conduct, including but not limited to illegal gambling, money laundering, fraud, extortion, data breach, terrorist financing, and any other violent activities or businesses prohibited by the law.

3.4 You understand and accept the risks that may arise to you and the related losses you may suffer from using the Service, including but not limited to:

  1. Any loss you may suffer from the risks associated with the inability to trade Digital Assets. You are willing to bear the funding risks and potential financial losses caused by storageing the Digital Assets and subscribing to the Service;
  2. The expected returns displayed on BingX Platform are the theoretical estimates of returns; they are not the actual returns guaranteed or promised by BingX. Actual returns may vary from the expected returns. Your final returns will be based on the actual returns, which shall be distributed by BingX (as your agent) to you via receipts from the product seller. At its absolute discretion, BingX may deduct the cost, fees, and expenses related to the operation of the Service (including but not limited to the administrative fees, server fees, electricity fees, etc.) as well as the handling fees from your actual returns to determine your final yield. BingX does not make any guarantee or promise to the actual returns that you may receive;
  3. Price fluctuations of digital assets and their derivatives may cause significant or total losses in a short period of time;
  4. Technical anomalies may occur, which may delay or prevent you from using the Service or performing related transactions and result in losses of your digital assets, for which BingX hereby disclaims any liability whatsoever;
  5. Market anomalies may occur, which may result in losses of your digital assets;
  6. In order to maintain the overall health of the market, BingX is required to add, remove, or change the policies, the terms of this Agreement or other relevant service agreements or terms from time to time. Any changes may benefit or harm individual customers like you.

 

4. Use of the Services

4.1 You can make commands, such as subscribe, store, lock up, redeem, etc. through the BingX User page. Once the command is set, you will not be able to cancel, revoke or edit it.

4.2 When your Digital Assets are successfully stored and locked up, BingX’s agency role as a purchaser of the Digital Assets will be fulfilled.

4.3 You may choose "fixed" or "flexible" term for subscribing the Service.

4.4 Flexible Term

a. Under Flexible Term Earn, your stored Digital Assets will yield returns at the specified.

b. Redemption rules: If a User selects "flexible" term for the Service, the User can redeem after entering the redemption command at any time. The redeemed Digital Asset may arrive at the User's Account simultaneously after the redemption command is given, depending on the token type.

4.5 Fixed Term

a. Under Fixed Term Earn, your stored Digital Assets will yield returns at a rate which is available at the BingX Platform when subscription is made. You will have to agree on a returns rate that you may wish to yield upon storing your Digital Assets. Once your Digital Assets have been stored into the Service, you will begin to earn returns from your Digital Assets as set out below.

b. If a User stores Digital Assets before 22:00 on T-1 day (HKT, UTC+8), the User's returns will be calculated starting from the T day. From the T+1 day, the returns will be settled and distributed on a daily basis. All returns will be distributed to your Account.

c. Redemption rules: If a User selects a "fixed "term for the Service, the User should redeem after the term expires. The redeemed Digital Assets may arrive at the User's account after 30 minutes upon BingX receiving the redemption command, depending on the token type. You understand and agree that between the redemption time and the actual arrival time, you will not be able to make any returns, transfer or other commands to the redeemed Digital Assets. You understand and accept that the actual time for the redeemed Digital Assets to arrive at your Account may vary. The arrival time shown on the website is final.

4.6 For the avoidance of doubt, historical returns are not indicative of future returns. BingX does not make any guarantee that you will receive repayment of the Principal or the returns as shown at BingX Platform at the time you subscribe. Any representation concerning possible returns at the time you subscribe is an indicative estimate only and not guaranteed.

4.7 Master accounts and sub-accounts share the storage and/or subscription limits but there is no redemption limit. BingX reserves the right to adjust the storage, subscription and redemption limits in its sole discretion.

4.8 BingX reserves the right to charge a Service Fee for processing subscription and redemption, and such Service Fee shall be published on the BingX Platform, and may be modified by BingX, from time to time.

4.9 You will be able to view your account history on the BingX Platform. You must review your account history carefully and let BingX know if you see any entries or transactions that you do not recognize or you think are incorrect as soon as possible. BingX may rectify any error in your account history at any time, and reserve the right to void or reverse any transaction:

a. involving or deriving from a manifest error (that is, any error, omission, or misquote (whether an error of BingX or any third party) which is manifest or palpable, including a misquote by any representative of BingX taking into account the current market and currently advertised quotes, or any error of any information, source, official, official result or pronunciation); or

b. to reflect what we reasonably consider to be the correct or fair details of the transaction.

4.10 BingX may be required under Applicable Laws and Regulations to share information about your accounts and use of the BingX Platform with third parties. You acknowledge, agree and consent that we are entitled to disclose such information.

 

5. Suspension or cancelling your subscription of the Service

5.1. Subject to our BingX Customer Agreement, BingX may stop, suspend or cancel your access to the BingX Platform, impose limits to any BingX accounts, suspend or cancel your ability to participate in the Service, or delay certain transactions where:

a. you do not provide additional information to verify your identity or source of funds as requested by BingX;

b. BingX is required to do so by court order, to comply with any Applicable Laws and Regulations (including anti-money laundering or sanctions laws);

c. BingX is required to do so to comply with any direction or instruction from a government body or agency;

d. BingX reasonably determines that any information you have provided to BingX is wrong, untruthful, outdated or incomplete; or

e. you do not provide additional information that we request to our reasonable satisfaction or in a timely manner.

 

6. Liabilities

6.1 You agree and accept that the User's estimated returns displayed on BingX website is an estimation but not a guaranteed or promised actual yield. The actual returns may not meet or may be lower than the estimated yield. Your final returns will be based on your actual yield. BingX does not promise or guarantee your estimated returns or actual returns you will receive.

6.2 You agree and accept that when you redeem your stored Digital Assets, the time it takes for the said assets to arrive at your account may vary and the arrival on displayed on the website is final. BingX shall not be liable for any losses caused by the Digital Assets arrival time difference.

6.3 You agree and accept that BingX reserves the right to amend the content of this Agreement anytime in its sole discretion. BingX shall not be liable to any losses due to your misunderstanding of this Agreement, or your delay of reading the amendments to this Agreement.

6.4 You agree and accept that if the BingX Platform cannot function properly or the Service is interrupted due to the following conditions, such that you are unable to use the Services or cannot make commands or perform related trading operations, including but not limited to failure, delay, interruption, no system response, delayed system response or any other abnormal circumstances, BingX shall not be liable to any losses. These circumstances include but are not limited to:

  1. Service suspension for maintenance as announced by BingX;
  2. System failure to transmit data;
  3. Force majeure or accidents, such as typhoon, earthquake, tsunami, flooding, plague, power outage, war, turmoil, government actions, terrorist attacks, pandemic, epidemic, etc., that lead to the suspension of the BingX Platform;
  4. Service interruption or delay due to hacking, computer virus, technical adjustment or failure, website upgrade, banking issues, temporary closure due to government regulations, etc.;
  5. Service interruption or delay caused by the computer system being damaged, defective or unable to perform normally;
  6. Losses due to technical problems that cannot be predicted or solved by existing technical know-how or expertise in the industry;
  7. Losses to you or other third parties due to the fault or delay of any third party with whom BingX works with in order to provide you with the Service;
  8. Losses to you or other third parties due to changes in any Applicable Laws and Regulations, or government, regulatory or law enforcement orders;
  9. Losses to you or other third parties due to force majeure or accidents caused by other unforeseeable, unavoidable and unsolvable objective circumstances;
  10. You agree and accept that the above reasons may lead to abnormal transactions, abnormal market and price fluctuations, market interruptions and other possible abnormal circumstances. BingX reserves the right to refuse to execute your commands based on the actual circumstances. You understand and agree that BingX shall not be liable to any of your losses (including but not limited to direct or indirect losses, actual losses or loss of possible yield, etc.).

6.5 You agree and accept that BingX shall not be liable for any losses caused by the risks described in Section 3 of this Agreement (including but not limited to any direct or indirect losses, actual losses or possible loss of profits).

 

7. Technology disclaimers

7.1 BingX may, from time to time, suspend access to your BingX accounts, the BingX Platform, the Service and/or any other BingX services, for both scheduled and emergency maintenance. BingX will make reasonable efforts to ensure that transactions on the BingX Platform are processed in a timely manner, but BingX makes no representations or warranties regarding the amount of time needed to complete processing, which is dependent upon many factors outside of our control.

7.2 Although BingX makes reasonable efforts to update the information on the BingX Platform, BingX makes no representations, warranties, or guarantees, whether express or implied, that the content on the BingX Platform, including information in relation to the Services and any other BingX services, is accurate, complete, or up to date.

7.3 You are responsible for obtaining the data network access necessary to use the Services or any other BingX services. You are responsible for acquiring and updating compatible hardware or devices necessary to access and use the Service, any BingX services, the BingX Platform, and any updates thereto. BingX does not guarantee that any of the BingX services, or any portion thereof, will function on any particular hardware or devices. BingX services may be subject to malfunctions and delays inherent in the use of the internet and electronic communications.

 

8. Mandatory Measures

You agree and accept that BingX strictly prohibits unfair trading practices. BingX reserves the right to exercise control over your account or shut down your account if you perform the following actions:

  1. Market manipulation, price manipulation, insider dealing, market distortion, or any other malicious wrongdoings or behaviours;
  2. Harming other Users or BingX using the loopholes of the Service or other unreasonable means;
  3. Participation in any activities that BingX regards as harmful to the market;
  4. Violation of law and regulations.

In order to eliminate any adverse effects on the overall market, BingX reserves the right to take the following measures in its sole discretion, including but not limited to the closing down of your Account, restricting or cancelling your commands. You understand and agree that BingX shall not be liable for any losses (including but not limited to any direct or indirect losses, actual losses or losses of possible profits) incurred by you in connection with the above measures.

 

9. Indemnification

9.1 You shall take every possible measure to protect BingX from any damages arising out of your use of the Service or other actions related to your BingX Account, otherwise you should be liable to BingX.

9.2 You hereby agree to defend, indemnify and hold BingX harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party against BingX due to or arising out of your breach of this Agreement, your improper use of the Service, your violation of any law or the rights of a third party and/or the actions or inactions of any third party to whom you grant permissions to use your BingX Account or access our website, software, system (including any network and servers used to provide any of the Service) operated by us or on our behalf, or any of the Services on your behalf.

 

10. Miscellaneous

10.1 The contents of this Agreement also include BingX's various system specifications, other agreements or rules in the annex to this Agreement, and other relevant agreements and rules regarding the Service that BingX may issue from time to time. Once the above content is officially released, it is an integral part of this Agreement, and you should also abide by it. In the event of any conflict between the above content and this Agreement, this Agreement shall prevail.

10.2 BingX reserves the right to unilaterally modify this Agreement (including the above contents) if necessary. Such modification could happen at any time without prior notice. If any changes are made, the revised contents shall be posted on BingX's website immediately. Please check the latest information posted therein to inform yourself of any changes. Your continued use of or access to the Service following the posting of any changes constitutes acceptance of those changes. If you do not accept the revised content, you should stop using the Services.

10.3 You should carefully read the Agreement, and any document referred to in Section 10.1 and 10.2 of this Agreement that constitute the contents of this Agreement. If there is anything that you do not understand in the Agreement and any document referred to herein, you should contact BingX and seek for clarification. Unless otherwise instructed by BingX, any formal communication and document transfer between you and BingX should be undertaken through email as set out in the BingX Customer Agreement. You are also able to contact BingX telephonically as informal communication. Any formal communication between you and BingX should, unless otherwise agreed, be made in the English language. In the event of any discrepancy between the communication in English and that in a foreign language, the English version shall prevail. In the event of any discrepancy between the English version of this Agreement and any translated version, the English version of this Agreement shall prevail.

10.4 If any provisions of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired in any way. However, if any provisions of this Agreement shall be invalid, illegal or unenforceable under any such applicable law in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such law, or if for any reason it is not deemed so modified, it shall be invalid, illegal or unenforceable only to the extent of such invalidity, illegality or limitation on enforceability without affecting the remaining provisions of this Agreement, or the validity, legality or enforceability of such provision in any other jurisdiction.

10.5 The failure of our enforcement of any right or provision of this Agreement will not be deemed a waiver of such right or provision.

10.6 This Agreement, your use of the Services, any claim, counterclaim or dispute of any kind or nature whatsoever arising out of this Agreement, directly or indirectly, shall be governed by, and construed in accordance with the laws of England and Wales without regard to the principles of conflicts of laws thereof.

10.7 Dispute Resolution

a. You acknowledge and agree that in the event of any dispute, controversy, difference or claim, including the existence, validity, interpretation, performance, breach or termination of the Terms or any dispute arising out of or relating to the Terms ("Dispute"), the parties shall first refer the Dispute to proceedings at the Singapore International Arbitration Centre ("SIAC") in accordance with SIAC's Mediation Rules in force for the time.

b. If the Dispute has not been settled upon the signing of a settlement agreement within ninety (90) days following the filing of a request for mediation set forth in above paragraph (i) of Clause 10.7, such Dispute shall be referred to and finally resolved by arbitration administered by the SIAC) under the SIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted.

c. You agree that the seat of arbitration shall be Singapore. The number of arbitrators shall be three (3). BingX shall appoint one (1) arbitrator and you shall appoint one (1) arbitrator. The third arbitrator shall be appointed by the Chairman of the SIAC. Such arbitrators shall be freely selected, and the parties shall not be limited in their selection to any prescribed list. The arbitration proceedings shall be conducted in English.

d. You agree that BingX shall not be required to give general discovery of documents, but may be required only to produce specific, identified documents which are relevant and material to the outcome of the Dispute.

e. Any arbitral award shall be final and binding upon the parties hereto and shall be enforceable in any competent court which has jurisdiction.

10.8 You shall not transfer, novate or assign this Agreement, and the rights and obligations hereunder, in whole or in part, without the prior written consent of BingX. BingX has the right to transfer, novate or assign any rights or obligations under this Agreement by serving written notice on you, which takes effect upon the delivery of such notice.

10.9 The headings of all the terms of this Agreement are for reading convenience only and have no actual meaning and cannot be used as a basis for interpretation of the meaning of this Agreement.

10.10 BingX shall have the sole and final discretion to interpret this Agreement.