Terms of Service

Terms of Service (Last updated: August 9th, 2023)

1

Exchange Service for Digital Assets (Digital Tokens)

ERX Company Limited (“ERX”) provides services for buying, selling, exchanging, and maintaining digital tokens to individuals aged 20 years and above, and Thai and foreign juristic persons (“customer”, “user”, or “you”). ERX provides a cash balance/cash deposit service wherein the customer must fully deposit sufficient cash to ERX before purchasing digital tokens. When the customer purchases digital tokens, cash will be deducted from the customer’s digital wallet. When the customer sells digital tokens, the customer must have sufficient digital tokens balance in their account.

These Terms of Service (“Terms of Service”) established for governing the access and use of the service by customer for purchase, sell, and exchange of digital asset on ERX’s platform.

2

Registration for Digital Asset Exchange Service

2.1 To use ERX’s services, customer must first create an account on ERX’s website or application, in accordance with the ERX’s user acceptance policy, and relevant legal obligation, such as the Anti-money Laundering Act, and the Terrorism and Proliferation of Weapons of Mass Destruction Financing Act, and relevant conditions regulated by Securities and Exchange Commission (SEC), etc., by providing personal information such as, name, surname, nationality, ID card number, passport number, mobile number, address, date of birth, occupation, source of income, email address, ultimate beneficiary of the customer’s digital asset exchanges, investment objectives, investment experience, acceptable investment risk, and other related information, etc.

2.2 The customer agrees that ERX can use the information received from the customer for providing services in relation of accessing, using and for providing other services of any action as specified under these Terms of Service.

2.3 The registration for opening account with us shall mean that the customer agrees to notify and provide any information to ERX, Securities and Exchange Commission (SEC) or any other governmental agency with legal authority as requested by ERX and/or such legal authority or in order to comply with such authority’s criteria.

The customer guarantees that all information filled in and submitted to ERX is correct, true and up to date. The customer agrees to inform ERX to update the information in case such information has been changed.

2.4 The customer agrees and accepts that it is ERX’s sole discretion to approve customer’s account, and ERX reserves the right to reject the creation of the customer’s account or impose the limitation on the customer’s transaction that the customer entitled and maintained throughout the use of the service.

3

Term of Usage / Prohibition

3.1 The customer agrees to be bound by all Terms of Service, both the current version and the future version, including other policies announced by ERX and related to the use of ERX’s service.

3.2 The customer must create their own User ID and Password.

3.3 The customer agrees to be solely responsible for keeping the User ID, Password, and security code in a secure and confidential manner. If a third party uses the customer’s User ID and/or Password to buy or sell digital asset(s), or conduct any transactions using ERX’s trading system, the customer agrees to bear sole responsibility for such actions. The customer agrees and accepts that the customer has a responsibility to keep the User ID and/or Password confidential and to prevent others from using the customer’s User ID and/or Password. If the customer information has been loses, forgets, or stolen, the customer can contact ERX via channel provided in Part 11 to suspend the existing password and request a new password.

3.4 The customer is solely liable for any loss or violation of personal information that occur as a result of unauthorized access to the customer’s account by a third party, including in the event of digital tokens and/or cash being stolen from any customer’s account. ERX shall be liable for loss or violation of personal information only if it is caused by ERX’s negligence.

3.5 The customer is solely responsible for updating email address and contact information on the customer’s account page. The customer may do so by submitting the request for changing information to ERX via the channel provided in Part 11.

3.6 ERX shall not be liable under any circumstances for any losses suffered by the customer as a result of violation of the customer’s account, log in or personal information, except in case of ERX’s employees, directors, and executives intentionally failing to perform their duties.

3.7 If the customer has reasonable suspicion that information in their user account has been violated, the customer may contact ERX at any time via channel provided in Part 11.

3.8 The customer is solely responsibility for account access and accepts all risks associated with authorized or unauthorized third-party account access. ERX has the right to terminate service at any time at ERX’s discretion and without any notice. ERX reserves all rights to request additional information and documents from the customer, and ERX reserves the right to temporarily terminate some or all part of the customer’s account at any time, as ERX deems necessary.

3.9 By accessing or using the website, the customer agrees not to engage in any actions that violate the law, contractual agreements, copyright, or the rights of third parties. Furthermore, the customer agrees not to commit any acts that may infringe on the rights of another person or violate or against the laws, rules, conditions, or any announcements issued by ERX.

3.10 The customer is solely liable for all activities that occur under the customer’s account while using the website or application whether used by the customer or the person act on behalf of the customer.

3.11 If the customer provides personal data of the other person to ERX, the customer represents ERX that the customer has informed the data subject about the collection, uses, and/or disclosure of personal data by ERX, including to obtain a consent or can rely upon applicable legal basis for the collection, use or disclosure of such personal data.

3.12 The customer will not use the website or application to intentionally disrupt, damage, destroy, have a negative impact on, or restrict the full use of the website or application by other users. The customer will not engage in any behavior that could harm or disrupt the website’s operating system, or that would artificially increase website traffic.

3.13 The customer will not use ERX’s website or application to pay for, support or participate in any illegal gambling, deception, money-laundering, terrorism, or other illegal activities such as pyramid schemes, Ponzi schemes, illegal cash-gifts, illegal donations, illegal loans, or illegal financial game business.

3.14 The customer will not use scraper apps, or any auto-interface not provided by ERX to access or pull data from the website or application.

3.15 The customer will not use or intend to use the account of another customer.

3.16 The customer will not purposefully avoid any screening, audit, information, or content provided by ERX, or attempt to access any services or service areas of the website or application without permission.

3.17 The customer will not develop any external programs for use with ERX’s website or application without written approval from ERX.

3.18 The customer will not provide false, incorrect, or misleading information for using ERX’s website or application.

3.19 The customer will not encourage or influence third parties to engage in prohibited behavior.

4

Digital Wallet Usage

4.1 The digital wallet allows the customer to use ERX’s website or application to deposit-withdraw and store digital tokens.

4.2 ERX will grant the customer’s digital wallet with access to digital tokens of the type and characteristics as determined by ERX only and at ERX’s sole discretion and the customer shall accept such discretion. ERX’s token offerings may change from time to time by the sole discretion of ERX.

4.3 ERX may impose restriction limits on customer transactions based on the completed customer verification process and other factors. ERX reserves the right, at its sole discretion, to impose transaction limits on customer as it deems appropriate.

4.4 If the customer wishes to increase their transaction limit, the customer can inform ERX via channel provided in Part 11. In such a case, ERX may request the customer to submits additional information, including business records and other records.

4.5 The customer represents and warrants that digital assets that the customer brings and keeps in the digital wallet opened with ERX are assets lawfully acquired and possessed by the customer, and such assets are not involved, and shall not be involved in any unlawful activity. The customer represents and warrants that the customer is the legal owner and ultimate beneficiary and is solely and fully entitled to all proprietary interests in such assets. The customer represents and warrants further that such assets are not subject to any limitation of right, security, or any encumbrance. There are no disputes with any persons with respect to such assets, and there are no circumstances which are likely to give rise to the disputes. If any of the representation and warranty given herein is inaccurate or untrue, and if it causes any damages to ERX or any third party, ERX may impose the limitation on the customer’s transaction or terminated the service for the customer and the customer agrees to indemnify and hold ERX and/or such third party harmless against any of the damages incurred.

5

Digital Asset Exchange

5.1 The customer can submit purchase or sell orders 24 hours a day.

5.2 Before making a purchase order, the customer must have sufficient cash to cover the purchase order.

5.3 Before making a sell order, the customer must have sufficient digital tokens for the sell order.

5.4 The customer can view the status of all of their purchase/sell orders 24 hours a day.

5.5 ERX has all rights to prohibit or cancel a purchase or sale order which ERX deems to fall in the following cases without being responsible for any damage that may occur:

• ERX deems that the purchase or sale order to be inappropriate or prohibited by law, such as spoofing/layering, wash sale, or price manipulation or acceleration/deceleration.
• A purchase or sale order involving cash or digital assets of a value higher than the customer’s remaining cash or digital asset balance in the digital wallet opened with ERX.
• An operation to purchase or sell that may contravene the law or regulations of relevant authorities or supervisory bodies.
• ERX is required to comply with any laws, regulations, order issued by relevant authorities or supervisory bodies, as well as any judgment or order made by the court, arbitrator, or any other body with dispute resolution authority.
• In the case where ERX has reason to believe that the cash or digital assets in the customer’s digital wallet are not as they are represented and warranted by the customer under clause 4.5.

5.6 ERX reserves the right to charge transaction and exchange fees as announced by ERX. ERX reserves the right to change these fees at ERX’s discretion. ERX will announce such changes on ERX’s communication channels, such as website and email, to customer inform the customer at least 7 days before such changes become effective.

5.7 The customer warrants that the customer acknowledges and understands the conditions, regulations, and methods of digital asset exchange via the internet or other electronic system and the customer accepts any risks associated with digital asset exchange via internet or electronic system.

6

User’s Asset Preservation

6.1 ERX will hold the customer’s assets safely. The assets will be segregated in ERX’s account book to clearly indicate which assets belong to the customer. Assets will be stored as follows:

• Cash Asset type: ERX will be stored at commercial bank.
• Digital Asset type: ERX will be stored at ERX or the custodian service provider that ERX announced on the website or any communication channels with capability of clear indication of which digital assets are owned by which customer.

6.2 ERX will provide the customer with a monthly asset report. The customer can also access asset details 24 hours a day. The customer can request an asset report from ERX via the channel provided in Part 11.

6.3 The customer agrees that ERX may keep the customer’s assets for the purposes of safekeeping, digital token exchange or other benefits permitted by applicable laws. The customer agrees that ERX may charge fees for cash or digital asset deposit/withdrawal, including fees for safekeeping of the customer’s assets at a rate determined by ERX. ERX reserves the right to adjust such fees as it deems appropriate. ERX will announce such changes on ERX’s communication channels, such as website and email, for the customer to know at least 7 days before such changes become effective.

6.4 The customer acknowledges and agrees that asset withdrawal must operate according to ERX’s process. The customer acknowledges and agrees that ERX has no policy that permits any user to transfer digital assets to an external digital wallet unless such customer can prove that the digital wallet to which the transfer is being made is owned by the customer. ERX reserves the right to exercise discretion in proving the ownership of any digital wallet, including the right to decline any transfer as intended by the customer.

6.5 In case of profit or other benefits from any of the customer’s digital asset held in the digital wallet the customer has with ERX, such as profits from the digital asset issuer, ERX will treat the related profits and other benefits according to generally accepted methods or established practice for such profits.

6.6 In the case of loss or damage to the customer’s assets due to negligence of ERX, ERX agrees to be fully responsible for the customer’s assets.

6.7 In the case of negligence by ERX causing harm to the customer, the customer has the right to demand for damages from ERX.

7

Tax

7.1 The customer is fully responsible for any taxes applicable to any transaction that they perform through ERX’s website. The customer is responsible for reporting and paying such taxes to the appropriate institute.

7.2 The customer agrees and acknowledges that ERX is not involved in or responsible for any taxes incurred as a result of ERX transactions, including associated exchange trade, transfers or receives, back taxes, any reporting, asset freezing, or any transfer arising from the customer transactions.

7.3 ERX reserves all rights to deduct or withdraw any taxes from the customer’s account in order to comply with any applicable law, requests or orders that ERX receives from the Revenue Department or any tax collecting authority.

8

Risk Acceptance

8.1 The customer understands and accepts that digital asset exchange entails risks as the value of and profits from digital asset exchange fluctuate with changes in the price of assets invested in, with changes in asset liquidity, and with changes in general investment conditions. Such fluctuations can be caused by unforeseen events and may result in the customer not recouping funds invested. The customer understands and accepts that there may be other risks. The customer must consider carefully whether digital asset exchange meets a compensation and risk level that the customer is able to accept. The customer will be responsible for all losses that they incur due to investment risks.

8.2 ERX shall not be held liable for any loss or damage suffered by the customer in all cases if such loss or damage is caused by fire, force majeure event, revolt, protest, war, epidemic, take over by state power, errors related to communication networks or delays caused by third-party communication networks or communication networks of ERX or other factors affecting ERX’s operations.

9

Enforced Law

The use of this website or application or the interpretation of the terms and conditions of use of this website or application shall be governed by Thai law. Any dispute, conflict, or demand arising from or related to these Terms of Service, breach, termination, or invalidation of this agreement shall be referred to arbitration in accordance with the rules of the Thailand Arbitration Center in effect at that time and will be managed by the Thailand Arbitration Center (THAC).

10

Other Agreements

10.1 The customer represents, undertakes and warrants that:

(1) any personal data disclosed by the customer to ERX, and/or affiliates, group companies, employees, agents or third parties authorized to act on behalf of ERX shall be the personal data that the customer obtained consent from the data subject prior to the disclosure of such personal data to ERX or the customer has rely on other lawful conditions or legal basis to permit ERX to collects, uses, discloses or manages those personal data for the purpose of providing services under these Terms of Service, including the purposes as described under ERX’ privacy policy;

(2) any personal data that the customer discloses to ERX is accurate, complete and up to date. In addition, the customer shall promptly provide ERX with a written notice upon being aware that such personal data has been updated and/or changed after such disclosure;

(3) for any personal data of the data subject that the customer will be or may be disclosing or discloses to ERX, that customer is validly acting on behalf of such data subject and that the customer has the authority of such individuals to provide their personal data to ERX to collects, uses, discloses and manages such personal data; and

(4) Before registering or submitting any documents to ERX, the customer acknowledges the privacy notice of ERX and understand how ERX process the personal data as the details appeared on the website of ERX.

10.2 ERX will proceed with personal data of the customer in accordance with the following:

(1) ERX will collects, uses, discloses, and/or manages personal data as necessary and in accordance with privacy notice as informed by ERX to the customer.

(2) ERX may, on the necessary basis, discloses personal data of the customer to officers, employees, including affiliates/group companies, business partners, any service providers, agents, or third parties authorized by ERX to proceed with the matters related to ERX’s products or services preparation, including the disclosure of personal data for the customer identity verification, for the purpose of providing services by affiliates/group companies or our business partners as requested by the customer or the disclosure of personal data to government authorities or officers authorized by relevant law, which may be sited inside or outside Thailand; and

(3) ERX may collects copy and/or picture of the customer’s authentication documents (such as identification card, passport, or any documents issued by government authorities) for the purpose of verifying the identity of the customer in order to receive a service from ERX. The copy or picture of such documents may contain sensitive personal data, such as religion, blood group, etc., which ERX has no reason or policy to collects, uses, and/or discloses sensitive personal data as appeared in such document. Therefore, the customer must conceal or mask such sensitive personal data before submitting to ERX. However, if the customer did not conceal or mask sensitive personal data, the customer agrees and acknowledges that ERX may conceal or mask sensitive personal data appeared on such document.

If the customer has any comments, queries or complains, please contact ERX via ERX’s website, email: happy@erx.io, tel.: 02-080-6060, or contact at ERX Company Limited 1788, Singha Complex Building, 27th Floor, Unit 2702-2708 New Petchaburi Road, Bang Kapi Subdistrict, Huai Khwang District, Bangkok 10310, Thailand

If the customer has any queries or concern about personal data management or wish to exercise any rights entitled under the law, the customer may contact Data Protection Officer at dpo@erx.io.

When contacting ERX, please inform name, address and information needed for ERX to identify the identity of the customer, the customer’s user account, and transactions relevant to the comments, queries or complaints submitted to ERX.

12.1 ERX will preserve the confidentiality of the customer information and will not disclose to third parties, except in circumstances where laws, government orders or state’s regulations require ERX to disclose financial or transaction information relating to the customer to official bodies. The customer acknowledges and authorizes ERX to discloses or report the customer's information and/or financial transaction records to state officers or government authorities.

12.2 The customer acknowledges and agrees that ERX does not provide any service related to international money transfers. The customer is responsible for verifying the transactions and paying any fees associated with international money transfers. In addition, the customer agrees and acknowledges that the customer must comply with the relevant laws and regulations of the respective country, as well as the terms and conditions of the international money transfer service providers.

12.3 The customer acknowledges and agrees that ERX shall not be liable to the customer for any damages, delays, or expenses incurred as a result of errors made by international money transfer service providers, exchange rate fluctuations, or laws or regulations governing the transfer of money in each country and international money transfer.

12.4 ERX reserves the right to change service regulations and conditions, as it deems appropriate. In addition, ERX has the right to cancel services in whole or in part, including the right to cancel such services for specific customers. ERX will provide at least 30 days advance notice, or the notice period and conditions required by law prior to such cancellation.

12.5 Any letters or notices sent by ERX to the customer‘s email or registered address, working address provided to ERX, the customer accepted that such address is valid domicile and the properly delivered to such address shall be valid notice. If there are any changes to the customer’s current address, work address, or occupation, the customer must inform ERX immediately.

12.6 The customer has read thoroughly and acknowledged the detail related to the collection, use, and disclosure of personal data as informed in privacy notice, privacy policy which are the notification of the customer’s personal data management.

12.7 If the customer wishes to edit, add personal data, or terminate ERX’s services, the customer must notify ERX via channel as provided in Part 11 and ERX will terminate the service or perform the customer’s request within 7 days.

ERX Company Limited (the “Company”) respects the importance of protecting your personal data. Under the Personal Data Protection Act B.E. 2562 (2019) of Thailand (“PDPA”), the Company must inform you regarding the detail of the collection, uses, disclosure, and/or transfer of personal data (collectively referred to as “process” or “processing”), which will be in accordance with our Privacy Policy