PROPANIUM ACCOUNT AGREEMENT
This Propanium Account Agreement (the Agreement) governs rights and obligations in connection with the use of services provided by Proprietary Strategies s.r.o., offered through
the www.propanium.com website (the Website). Please read this Agreement carefully. You are under no obligation to use the Services if you do not agree or understand any portion of this Agreement, nor should you use the Services unless you understand and agree to these Terms.
This Agreement is entered into by you (you, your, or the Customer) and Proprietary Strategies s.r.o., with its registered office at Viklefova 1605/17, Žižkov, 130 00 Praha 3, identification no.: 23577878, registered in the Commercial Register maintained by the Municipal Court in Prague, file no. C 429333 (we, our, or Propanium). (Propanium and the Customer, hereinafter each referred to individually as a Party and collectively as the Parties)
This Agreement is concluded electronically as part of the registration for the Services on the Website.
You accept the agreement by clicking, in the user interface of the website, on I agree with the Propanium Account Agreement, by which this Agreement shall be concluded. During the verification, you are obligated to truthfully fill in all information about yourself and attach a scan of your identification document, which will allow us to verify your identity. The information must correspond to the information provided by you during the purchase of the Propanium Challenge. Otherwise, Propanium may refuse to enter into the Agreement with you. By filling in the information about yourself, you are confirming that all such information is true and accurate to the best of your knowledge at the time.
1. PURPOSE OF THE AGREEMENT
1.1. The purpose of this Agreement is to set out the conditions (i) under which the Customer
shall be provided by Propanium with instruments for demo trading intended for advanced traders, including access to a trading account for demo trading (Propanium Account); (ii) under which the Customer may perform such demo trades using Propanium instruments; and (iii) under which the Customer shall be paid financial reward(s). The purpose of this Agreement is also to ensure the Customer's access to the instruments for demo trading provided under this Agreement through the user interface on the Website (the Client Area), or by the provision of access to applications provided by Propanium or third parties.
2. SUBJECT-MATTER OF THE AGREEMENT
2.1. The subject matter of this Agreement is Propanium's obligation to provide the Customer
with instruments for demo foreign currency trading in the FOREX market or with other instruments in other financial markets, access to trading accounts for demo trading (Propanium Accounts), analytical instruments, training and educational materials, (if applicable) other accompanying services for advanced traders, to enable the Customer to access and use those services (the Services) and, subject to the terms and conditions set out in this Agreement, Propanium's obligation to pay the Customer a certain financial reward calculated according to the rules defined in this Agreement (the Reward). Within the Services provided, Propanium shall, in particular, enable the Customer to access the electronic interface in which the Customer shall perform demo trades under this Agreement (the Trading Platform).
2.2. The Customer further undertakes, when using the Services, and in particular
when performing demo trades, to act in accordance with this Agreement, any third parties'
terms and conditions, applicable legal regulations, and other rules which the Customer is
obligated to adhere to when using the Services.
2.3. The meaning of the definitions, expressions, and abbreviations used in this Agreement
can be found in clause 16.
3. CUSTOMER REPRESENTATIONS
3.1. The Customer represents and acknowledges that:
3.1.1. no performance provided by Propanium to the Customer under this Agreement, including all Services, may be considered as investment services or activities within the meaning of the legal regulations governing, in particular, investment services and capital markets; in particular, Propanium does not receive or execute in any case, whether directly or indirectly, any trading instructions, does not provide or conduct investment or other advice, research, recommendations or analyses, and does not give or forward to the Customer any trading instructions, does not receive any assets from, or manage any assets for, the Customer, and does not provide any related foreign exchange services;
3.1.2. no employees or other staff or representatives of Propanium are authorised to provide services within the meaning of Clause 3.1.1;
3.1.3. all trading that the Customer performs through the Services is simulated only and that the execution of a demo trade within the Services provided shall in no way constitute an instruction to trade in real financial markets or with real currency;
3.1.4. the funds provided to the Customer for demo trading are not real and that the Customer has no right to deal with them beyond the scope of their use within the Services (in particular that they cannot be used for actual trading), that the Customer is not entitled to withdraw or transfer them, and that Propanium does not in any circumstances receive any funds or other assets from, or manage any funds or other assets for, the Customer within the Services; 3.1.5. performance with Propanium is not indicative of trading on real financial markets, and that past performance and demo gains are neither a guarantee nor an indication of any further performance; and 3.1.6. if the Customer's access to the Client Area is cancelled, irrespective of the reason for its cancellation, the Customer shall lose access to the Propanium Account, and thus to the Services, without being entitled to any compensation.
3.2. In case the Customer enters into this Agreement or uses the Services within its business (entrepreneurial) activities within the meaning of applicable laws, the Customer is obligated to notify Propanium about it and provide Propanium with Customer's business identifiers.
3.3. In performing this Agreement, the Customer shall comply with all applicable legal regulations and obtain, and maintain the validity of, all permits, licenses, consents, approvals or other acts issued by the competent authorities, which may apply to the Customer's activities under this Agreement, and fulfil all notification, tax, fee or other obligations that may arise in connection with the performance of this Agreement, and in particular with the Reward. The Customer is authorised to access and use the Services only in accordance with the applicable legal regulations and is prohibited from circumventing any technical measures that may limit the availability of the Services in certain countries. In no event shall Propanium bear any responsibility for the failure of the Customer to fulfil any of its obligations.
3.4. Customer hereby acknowledges that the demo capital has no monetary value and it's only a part of the Services provided to the Customer and Customer has no actual right, title or ownership to the demo capital, and that the Propanium has all rights, interest and full ownership to demo capital (as part of the Services). The Propanium Account and any and all rights related to the Services that are granted by Propanium to the Customer by virtue of this Agreement are personal to the Customer and cannot be transferred by contract or otherwise, nor are eligible for inheritance.
4. PROPANIUM ACCOUNT
4.1. Propanium shall provide the Customer with access to a trading account for advanced users, which will be linked to access to the Trading Platform (the Propanium Account), as part of the Services. The Propanium Challenge will always be activated by the performance of the first demo trade. If you do not activate the
Propanium Challenge within 30 calendar days of the date on which it was made available to you, your access to it will be suspended. You can request the renewal of access via the Client Area or by sending an e-mail to Customer Support within 6 months of the initial suspension, otherwise we will terminate the provision of the Services without any right to a refund of the fee.
4.2. The Customer shall not make available or provide the login data to the Propanium Account, the Trading Platform, or the Client Area to any third party. In case the Customer is a legal entity, the Customer may allow its employees or other authorised staff and representatives to access and use the Services. The Customer is responsible for the protection of login data and the Propanium Account and for all activities that are performed through the Propanium Account or the Trading Platform. The Propanium shall not be liable, and the Customer is not entitled to any compensation, for any misuse of the Propanium Account, Trading Platform or any part of the Services and for any negative consequences thereof for the Customer, if such misuse occurs for any reasons beyond the control of Propanium.
4.3. The Customer acknowledges that the Trading Platform is provided by a third party and that the contractual terms and conditions and the privacy policy of its provider apply to the use of the Trading Platform. The Customer is obligated to read those terms and conditions and privacy policy of the third party before the first access to the Trading Platform. By using the Trading Platform, the Customer agrees to those terms and conditions and privacy policy.
4.4. All data provided by the Customer to Propanium must be complete, true, and up-to-date. In the event of any change in the Customer's data, the Customer must immediately send a notification to Propanium from the Customer's registered e-mail address; the notification must be accompanied by documents evidencing the change, if applicable. The Customer is responsible for all the provided data being accurate and up-to-date at all times; Propanium is not obligated to verify the data.
4.5. The Propanium Account and the Services may not be available at all times, in particular
with respect to their maintenance, upgrades, technical errors, or for any other reason. In particular, Propanium shall not be liable, and the Customer is not entitled to any compensation, for the unavailability of the Propanium Account, the Client Area, or the Trading Platform, for any damages or loss of any data or other content that the Customer uploads, transfers, or saves via the Propanium Account, the Client Area or the Trading Platform, or for any Propanium's interventions or alterations in the Customer's Propanium Account requested by the Customer. Propanium may decide at its own discretion to compensate the Customer for the unavailability of the Services originating in technical reasons on the part of Propanium. The Customer is not entitled to any compensation, and it is entirely at the discretion of Propanium whether compensation is provided to the Customer and in what form or amount; provided however, the limitation of liability within the meaning of Clause 9 is not to be affected thereby.
4.6. In order to use the Services, the Customer must obtain the appropriate technical equipment and software, including third-party software (e.g. software for the use of the Trading Platform), at the Customer's own risk and expense. Propanium does not warrant or guarantee that the Services will be compatible with any specific equipment or software. Propanium provides no warranty as to the compatibility of the Services with any particular device, program, or add-on.
5. DEMO TRADING
5.1. The Customer will perform demo trades through the Customer's Propanium Account on the selected Trading Platform. During the demo trading on the Trading Platform, the Customer may perform any trades, subject to the conditions in Clause 5.2, and unless those trades constitute forbidden trading strategies or practices within the meaning of Clause 5.3. You also agree to follow good market standard rules and practices for trading on financial markets (e.g. risk management rules). Restrictions may also be imposed by the terms and conditions of the Trading Platform.
5.2. The Customer is obligated to comply with the following parameters in the course of the demo trading under this Agreement for the applicable trading options:
5.2.1. during any Calendar day in the Reference Period, the Customer shall not, at any time, incur a loss from the demo trades opened and closed on that day which would exceed, in addition to the loss or profit currently open on the same day in the Propanium Account, the percentage of the Capital for the respective option as described below:
Propanium Standard Account
in total 5% of the Capital
5.2.2. the value of the simulated capital in the Propanium Account which the Customer uses
for the demo trading, including all positions opened in that account, may not at any time during the Reference Period fall below the percentage of the Capital for the respective option as described below:
Propanium Standard Account
in total 10% of the Capital
5.2.3. the Customer may never have any open trading positions outside the trading hours of the particular traded financial instrument, except for a maximum of a two-hour roll-over break. The parameter in this Section 5.2.3. applies for the respective options as described below:
Propanium Standard Account
5.2.4. the Customer may not perform demo trades at times when specific significant macroeconomic announcements are published that may have a significant impact on the financial instruments with which the Customer performs demo trades, in particular, the Customer may not open or close market positions on the affected instrument in the period of 2 minutes before to 2 minutes after the issuance of the reports listed in Schedule B and during extraordinary events, of which the Customer shall be notified by e-mail. The parameter in this Section 5.2.4. applies for the respective options as described below:
Propanium Standard Account
5.3. FORBIDDEN TRADING PRACTICES.
5.3.1. DURING THE DEMO TRADING, IT IS PROHIBITED TO:
(a) KNOWINGLY OR UNKNOWINGLY USE TRADING STRATEGIES THAT EXPLOIT ERRORS IN THE SERVICES SUCH AS ERRORS IN THE DISPLAY OF PRICES OR DELAY IN THEIR UPDATES;
(b) PERFORM TRADES USING AN EXTERNAL OR SLOW DATA FEED;
(c) PERFORM, ALONE OR IN CONCERT WITH ANY OTHER PERSONS, INCLUDING BETWEEN CONNECTED ACCOUNTS, OR ACCOUNTS HELD WITH DIFFERENT PROPANIUM ENTITIES, TRADES OR COMBINATIONS OF TRADES THE PURPOSE OF WHICH IS TO MANIPULATE TRADING, FOR EXAMPLE BY SIMULTANEOUSLY ENTERING INTO OPPOSITE POSITIONS;
(d) PERFORM TRADES IN CONFLICT WITH THE TERMS AND CONDITIONS OF THE PROVIDER OF THE CLIENT AREA AND THE TERMS AND CONDITIONS OF THE TRADING PLATFORM;
(e) USE ANY SOFTWARE, ARTIFICIAL INTELLIGENCE, ULTRA-HIGH SPEED, OR MASS DATA ENTRY WHICH MIGHT MANIPULATE, ABUSE, OR GIVE YOU AN UNFAIR ADVANTAGE WHEN USING OUR SYSTEMS OR SERVICES; OR
(f) OTHERWISE PERFORM TRADES IN CONTRADICTION WITH HOW TRADING IS ACTUALLY PERFORMED IN THE FOREX MARKET OR IN ANY OTHER FINANCIAL MARKET, OR IN A WAY THAT ESTABLISHES JUSTIFIED CONCERNS THAT PROPANIUM MIGHT SUFFER FINANCIAL OR OTHER HARM AS A RESULT OF THE CUSTOMER'S ACTIVITIES.
5.3.2. As our Customer, you should understand and you agree that all our Services are for the Customer's personal use only, meaning that only you personally can access your Propanium Account and perform trades. For that reason, you should not, and you agree not to,
(a) allow access to and trading on your Propanium Account by any third party nor you shall engage or cooperate with any third party in order to have such third party perform trades for you, whether such third party is a private person or a professional;
(b) access any third party Propanium Account, trade on behalf of any third party or perform any account management or similar services, where you agree to trade, operate or manage the Propanium Account on behalf of another user, all whether performed as a professional or otherwise.
Please note that if you act or behave in contradiction with the aforesaid, we will consider such action/behaviour as a Forbidden Trading Practice under this Section 5.3 with respective consequences as perceived under this Agreement.
5.3.3. Furthermore, you shall not exploit the Services by performing trades without applying market standard risk management rules for trading on financial markets, this includes, among others, the following practices (i) opening substantially larger position sizes compared to your other trades, whether on this or any other account of yours, or (ii) opening substantially smaller or larger number of positions compared to your other trades, whether on this or any other account of yours. Propanium reserves the right to determine, at its own discretion, whether certain trades, practices, strategies or situations are Forbidden Trading Practices.
5.4. The results of the Customer's demo trading will always be evaluated by Propanium for a period of one month, unless the Customer makes the Pay-out Request before the one-month period ends (the Reference Period). The Reference Period will always start on the day of the first demo trade in the Propanium Account and end in one month or at the end of the Profit Split Day (i.e. at 11:59:59 p.m. (hh:mm:ss) of Central European (Summer) Time (CE(S)T)) set in Customer's Pay-out Request, if the request was placed in accordance with Section 7.4. For the purpose of calculating the one month Reference Period the one month period means the end of the day of the following month (i.e. at 11:59:59 p.m. (hh:mm:ss) of Central European (Summer) Time (CE(S)T)), which corresponds by its numerical designation to the day on which the Customer performed the first demo trade, or, if no day corresponds by its numerical designation in that calendar month than at the end of the first day of the following calendar month; for example, if the first trading day is 1 January, then the Reference Period will last until 11:59:59 p.m.
(hh:mm:ss) of Central European Time (CET), on 1 February; if the first trading day is 30 or 31 January, then the Reference Period will last until 11:59:59 p.m. (hh:mm:ss) of Central European Time (CET), on 1 March).
5.5. The value of the initial demo capital for demo trading under this Agreement (the Capital), and, where applicable, the currency, risk option, and other parameters that apply to the demo trading under this Agreement are displayed in real time on the website. The value and currency of the Capital shall be the same as the amount and currency of the initial demo capital that the Customer has selected for demo trading within the Propanium Challenge.
5.6. Using prohibited practices can result in the following actions from Propanium: denying further service to the customer, closure of his trading account, cancellation of the affected active challenges with a refund of the fees used, retroactive invalidation of previous challenges with a consequent recalculation of the total sum of due payouts by Propanium.
6. PROCESSING DEMO TRADES DATA
6.1. The Customer acknowledges that Propanium has access to information about the demo trades that the Customer performs through the Trading Platform. The Customer grants Propanium a consent to share this information with persons/entities that are members of the same group as Propanium or are otherwise related to it, and grant the Propanium and those persons consent and authorisation to freely use this information, including, but not limited to, trade all or some of the demo trades in real financial markets or use them in any other manner. The Customer agrees that such activities may be performed automatically, without any further consent, consultation, or approval by the Customer being necessary, without the entitlement to any reward or yield associated with the use of such data by Propanium or persons/entities that are members of the same group as Propanium or are otherwise related to it, and without the Customer's entitlement to information about any specific handling of this information.
6.2. The Customer acknowledges that the amount of the Reward or its payment does not in any case depend on whether or in what manner Propanium or the persons that are members of the same group as Propanium use the information about demo trades. The Customer further acknowledges that using the Services under this Agreement is conditional upon granting the consent under this Clause 6. The Customer may however interrupt or terminate the use of the Services at any time; this will however not affect the processing and use of any data obtained earlier.
7. REWARD
7.1. The Customer's claim to the Reward and its amount will depend exclusively on the results of the Customer's demo trading and judged fulfilment of the parameters set by Propanium for its payment. The Customer acknowledges that the claim or the amount of the Reward does not in any way depend on developments in the real financial markets or on the value that the demo trades would have in the real financial markets.
7.2. The rules that determine the client's claim to a payout will be clearly presented to the client in his Client Area before signing up for the corresponding challenge. The company shall endorse the client's claim to a payout on a discretionary basis, based on whether the client has complied with the rules, not engaged in prohibited practices, and accomplished the Challenge's goals. If the Customer does not achieve a Profit at the end of the Reference Period, the Customer will not be entitled to any Reward for the given Reference Period. For the purposes of determining the Customer's entitlement to the Reward, only the Customer's results achieved within the Customer's demo trades in the Propanium Account will be taken into account. The amount of the profit is computed as the difference between the starting capital and the capital at the end of the period.
7.3. The amount of the Reward is 90% of the Profit. The Customer is solely responsible and liable for the payment of any and all taxes, whether direct or indirect, including VAT (Value Added Tax), GST (Goods and Services Tax), or similar taxes, levies or fees that apply to the Customer in relation to this Agreement under the applicable laws and acknowledges and agrees that Propanium shall not be liable for any such obligations of the Customer. The currency of the Reward and the payment of the Reward to the Customer will be the same as the currency of the Capital of the Customer's Propanium Account. The following clauses are included only to provide examples of calculation of the Reward:
7.3.1. For example, the following situation may arise under this Agreement: If the Customer's Capital corresponds to a demo amount of USD 100,000 and the Customer begins trading on 5 May 2020 and, after a month, i.e. on 5 June 2020, the Customer has a demo amount of USD 200,000 in the Propanium Account, the Customer shall become entitled to a Reward of USD 90,000 (i.e. 90% of USD 100,000 [USD 200,000 minus USD 100,000] equals USD 90,000).
7.3.2. However, also the following situation may arise under this Agreement: If the Customer's Capital corresponds to a demo amount of USD 100,000 and the Customer begins trading on 5 May 2020 and, after a month, i.e. on 5 June 2020, the Customer has a demo amount of USD 92,000 in the Propanium Account, the Customer's entitlement to the Reward will correspond to USD 0 (90% of the negative value of [USD 92,000 minus USD 100,000] equals USD 0 for the purpose of calculating the Reward).
The amount of the Reward may be increased in accordance with the terms of the Scaling Plan, if applicable, in which case this provision shall apply accordingly.
7.4. Pay-out. The payment of the Reward is by default upon the end of the Reference Period, if conditions are met (including if the Pay-out Request by the Customer is made). The Customer may place its Pay-out Request and set the Profit Split Day via technical means in the Client Section during the Reference Period. The Pay-out Request can be made on the last day of the one-month Reference Period at the latest, otherwise the Reference Period ends.
7.5. If the Customer generates a Profit in the Reference Period, Propanium will verify the legitimacy of the Customer's claim to the Reward, calculate it and communicate the result to the Customer via Client Area. Based on this communication, the Customer shall state on the prescribed form to be provided by Propanium what part of the Reward the Customer wishes to be paid, how the Customer wishes the Reward to be paid, and other mandatory information, and shall upload the form via the Client Area.
7.6. The Reward will be paid to the Customer on the basis of a tax document ± invoice. The data on the invoice shall always correspond to the information provided by the Customer in the form specified in Clause 7.5; otherwise, Propanium is not obligated to pay the Reward. The Customer is always responsible for the correctness of the invoice and its compliance with the relevant legal regulations, irrespective of the method of its issuance. The invoice will be issued by Propanium on behalf of the Customer (self-billing mechanism) on the basis of authorisation by the Customer or directly by the Customer, if the authorisation is revoked, as further detailed in Clause 7.6.1 and 7.6.2.
7.6.1. Self-billing. The Customer hereby authorises Propanium to repeatedly issue electronic invoices for the payment of the Reward on behalf of the Customer until such authorisation is revoked. The Customer may be requested to confirm this authorisation in the Client Area. The Customer shall comply with the following:
(a) The Customer must communicate to Propanium, no later than upon the first submission of the form specified in Clause 7.5, all data necessary for the issuance of an invoice in the form that will meet all the requisites set out by the relevant legal regulations, and in the event of any change in these data or requisites, promptly notify Propanium Trading thereof; the notification must be accompanied by documents evidencing the change, if applicable;
(b) If the Customer fails to fulfil the obligations as per the previous paragraph, the Customer may not use the procedure for issuing invoices under this Clause 7.6.1; if the Customer fulfils the obligation under the previous sentence, the invoice will always be issued by Propanium on behalf of the Customer, unless the Customer revokes the authorisation by e-mail or via Client Area. A revocation made during a Reference Period is effective from the start of the following Reference Period. Any invoice issued directly by the Customer and send to Propanium while the authorisation to issue invoices on behalf of the Customer by Propanium
Trading is effective will be disregarded by Propanium.
(c) Invoices will be issued automatically no later than 7 Calendar days from the date on which Propanium receives the form under Clause 7.5 from the Customer. The invoices will be due in 14 days.
(d) If an invoice does not contain the requisites set out by the relevant legal regulations, the Customer may notify Propanium thereof within 10 Calendar days from the date of receipt of the invoice, stating the specific deficiencies and quantification of the applicable taxes and fees, and request a corrected invoice. After that period, Propanium is not obligated to correct invoices. Propanium will send a corrected invoice to the Customer within 10 Calendar days from the date of receipt of a relevant timely notification from the Customer. In such a case, the maturity period of the invoice will be interrupted and a new maturity period will begin upon the issuance of a corrected invoice. The Customer is responsible for the content of the invoice so issued and must check the accuracy of the data immediately upon receipt of the issued invoice.
7.6.2. In case the Customer revokes the authorisation for Propanium to issue invoices under Clause 7.6.1 by e-mail or via Client Area, the Customer shall issue the invoice itself. In such a case, the Customer shall upload the invoice in an electronic form via the Client Area or send it to Propanium to the Propanium's customer support e-mail address. The maturity period of any invoice issued by the Customer must be at least 14 days from its delivery to Propanium. If an invoice issued by the Customer does not contain the requisites of a tax document under the relevant legal regulations, Propanium may return it to the Customer to correct the errors and complete the data within 10 Calendar days from the date on which Propanium received the invoice. In such a case, the maturity period of the invoice will be interrupted and a new maturity period shall begin upon the delivery of the corrected faultless invoice to Propanium.
7.7. Propanium will pay the Reward(s) in the manner specified by the Customer in the form under Clause 7.5 by wireless transfer to the Customer's account, which the Customer shall state in the form under Clause 7.5, or by any other payment method accepted by Propanium Trading. All fees and costs of effecting the payment charged to the Customer (e.g. charged
by a payment provider) are borne by the Customer.
8. USE OF THE SERVICES AND OTHER CONTENT
8.1. All Services, including the Propanium Account, their appearance and all applications, data, information, multimedia elements such as texts, drawings, graphics, design, icons, images, audio and video samples and other content that may form the Services (including the Propanium Account), including any such content located on social networks of Propanium or persons/entities that are members of the same group as Propanium (the
Content), are subject to legal protection under the legal regulations concerning copyright protection and other legal regulations, and are the property of Propanium or Propanium's licensors. Propanium grants the Customer a limited, non-exclusive, non-transferable, non-assignable, non-passable, and revocable permission to use the Content for the purpose of using the Services for the Customer's personal use and in accordance with the purpose for which the Services are provided. The Content is not sold or otherwise transferred to the Customer and remains the property of Propanium Trading or its licensors.
8.2. All trademarks, logos, trade names, and other designations are the property of Propanium Trading or Propanium's licensors and Propanium does not grant the Customer any right to use them, unless explicitly permitted in a written form.
8.3. Both the Customer and Propanium undertake to act in accordance with the principles of fair dealing in the performance of the Agreement and in mutual interactions and, in particular, not to damage the good reputation and legitimate interests of the other party. The Customer and Propanium shall resolve any possible disagreements or disputes between them in accordance with this Agreement and the applicable legal regulations.
8.4. Propanium, its affiliates or licensors, own and retain all rights, title and interest to the Services, Trading Platform or any software provided hereunder or any part thereof, including all intellectual property rights thereto. Except for the rights expressly set out in this Agreement, Propanium does not grant the Customer any other rights relating to the Services and other Content. The Customer may only use the Services and other Content as set out in this Agreement.
8.5. When accessing the Services and other Content, it is prohibited to:
8.5.1. use any instruments that may adversely affect the operation of the Website and Services or that would be intended to misuse any errors, bugs, or other deficiencies of the Website and Services;
8.5.2. circumvent geographical restrictions of availability or any other technical restrictions;
8.5.3. make copies or back-ups of the Website and other Content;
8.5.4. reverse-engineer, decompile, disassemble, or otherwise modify the Website and other Content;
8.5.5. sell, rent, lend, license, distribute, reproduce, spread, stream, broadcast, or use the Services or other Content otherwise than as permitted;
8.5.6. use automated means to view, display, or collect information available through the Website or Services; and 8.5.7. use any other instruments or means the use of which could cause any harm to Propanium.
8.6. If the Customer finds out that the Services or any other Content contain errors, bugs, or
other deficiencies, the Customer shall notify Propanium thereof without undue delay in writing.
8.7. If the Customer violates any restriction or prohibition under Clause 8, the Customer is obligated to indemnify Propanium or companies that are members of the same group as Propanium, or their customers, employees, members of governing bodies, shareholders, business partners, licensors of these persons or any cooperating persons (the Indemnified Persons), for, and hold them harmless from, any claims of third parties against the Indemnified Persons to the extent of any claims made or lawsuits filed by a third party on the basis of which the third party alleges that the rights of that third party have been violated or that the applicable law is violated in connection with the Customer's conduct, and the Customer shall pay all damages, including lost profits, costs of legal proceedings, and legal representation and other financial or non-financial claims arising from the claims or lawsuits of that third party.
9. LIMITATION OF LIABILITY
9.1. THE CUSTOMER ACKNOWLEDGES THAT THE SERVICES AND OTHER CONTENT ARE PROVIDED AS IS WITH ALL THEIR ERRORS, DEFECTS, AND SHORTCOMINGS,
AND THAT THEIR USE IS AT THE CUSTOMER'S SOLE RESPONSIBILITY AND RISK. TO THE MAXIMUM EXTENT PERMITTED BY THE MANDATORY LEGAL REGULATIONS, PROPANIUM DISCLAIMS ANY STATUTORY, CONTRACTUAL, EXPRESS AND IMPLIED
WARRANTIES OF ANY KIND, INCLUDING ANY WARRANTY OF QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF
ANY RIGHTS.
10. PAYMENT TERMS
10.1. The amounts of fees for the Propanium Challenge options are in dollars. The
Customer acknowledges that if the payment is made in a currency other than the one the Customer has chosen on the Website, the amount will be converted according to the current exchange rates valid at the time of payment.
10.2. Service charges are inclusive of all taxes. If the Customer is an entrepreneur (trader), he is obliged to fulfill all his tax obligations in connection with the use of our Services in accordance with applicable law, and in the event of an obligation, he is obliged to pay tax or other fees properly.
10.3. You can pay the fee for the selected option of the Propanium Challenge using the means of payment currently offered on the Website.
10.4. In the event of payment via any express payment method, the payment shall be made immediately. If you select a bank transfer for payment, we will subsequently send you a proforma invoice in electronic form with the amount of the fee for the option of the Propanium Challenge you have chosen on the Website. You undertake to pay the amount within the period specified in the proforma invoice. The fee is considered paid when its full amount is credited to the Provider’s account. If you do not pay the amount on time, the Provider is entitled to cancel your order. The Customer bears all fees charged to the Customer by the selected payment service provider (according to the valid price list of the payment service provider) in connection with the transaction and the Customer is obliged to ensure that the respective fee for the selected Propanium Challenge is paid in full.
11. CHANGES TO THE GTC
11.1. The Provider reserves the right to change these GTC from time to time with effect for the contract previously entered into by the Customer. The Provider will notify the Customer of the change in the GTC at least 7 days before the change in the GTC is effective, via the Client Section or by e-mail. If the Customer does not agree with the change, the Customer is entitled to reject it. The Customer must do so no later than on the last business day before these changes take effect by sending the rejection to our Customer Support address. Upon receiving such rejection, the contract will be terminated. If the Customer does not reject the change, it is considered that the Customer agrees to the new version of GTC.
11.2. If the change offers the Customer a new service or other additional functionalities or this change is solely to their advantage, the Provider can inform the Customer about this change less than 7 days before the effective date of such change, but no later than the day before its effectiveness.