When using any of the CoinPay services, operated by Bitcoin Co. Ltd., you are agreeing to the following conditions in full.
For the purpose of these terms, CoinPay will be referred to as the "company" and all users of the company's services shall be referred to as the "customer". The website operated by Bitcoin Co. Ltd. at https://coinpay.in.th and https://coinpay.co.th will be referred to as the "website".
Nature of Service
The company provides a Bitcoin exchange service for the customer. All bitcoins involved into transactions to the company are considered to be owned by and originating from the customer. The company provides a service to exchange the customer's bitcoins into Thai Baht at an exchange rate specified by the company.
In order to use the website the customer must be at least 18 years old and legally able to enter into a contract of their own volition.
The company will not be considered as processing payment for the merchant; but as offer a Bitcoin to Thai Baht exchange service for the merchant.
The company will keep a record of exchanges performed by the customer and display this as the "Balance" of the customer. Every Monday and Friday before 4:30PM (ICT) the entire balance attributed to the customer will be transferred to the bank account of the customer; this will herein be referred to as the "settlement processing".
If the customer's balance is below 500 THB at the time of the settlement processing, no transfer will be made to the customer. The balance will remain untouched and will be rolled over into the next settlement processing period. Until such as time that the balance exceeds 500 THB at the time of settlement processing.
The company will guarantee payment for all Bitcoin transferred received by the company which have accumulated at least 3 confirmations within the Bitcoin network. Bitcoin transfers which receive less than 3 confirmations will not be paid to the customer.
It is suggested to wait for at least 3 confirmations before processing an order to protect against possibility of a malicious Bitcoin transaction.
The company will take no responsibility for losses resultant from a security breach outside of servers owned and operated by the company.
The company does not offer any refund service. All exchanges processed for the merchant will be final and irreversible. Any refunds that the merchant wished to process must be handled directly by the merchant without the involvement of the company.
No Guarantee of Future Service
The company may any time temporarily or permanently disable the website for some or all customers. The customer has a guarantee of receiving their previously exchanged balance; but has no guaranteed right to future service.
Customer input errors
It is the sole responsibility of the customer to check the accuracy of information entered and saved on the website. In the case that this information is incorrect, and funds are transferred to an unintended destination, the company shall not reimburse the customer and shall not transfer additional funds. As such customers must ensure the Bitcoin address and bank information they enter is completely correct.
The company reserves the right to contact the customer to request additional information related to their identity or source of funds, if the company considers the account activity to appear suspicious.
When legally obligated, the company will provide customer information to Thai government agencies upon legal request, court order or presentation of warrant.
Bitcoin is a not backed or value guaranteed by any financial institution; when holding bitcoins the customer assumes all risk the bitcoins may become worthless in value. Customers should research and consider the risks before holding any bitcoins. The company makes absolutely no guarantee about the future value of the bitcoins held.
No foreign currency exchange
The company provides exchange rate date for multiple currencies as a convenience to the customer, however the company only offers an exchange service between Bitcoin to Thai Baht. The customer must agree never to exchange bitcoins received from the company for any currency other than Thai Baht. The customer must also guarantee that any bitcoins the customer exchanges with the company have never been involved in exchange with any currency other than Thai Baht.
The customer agrees to indemnify, defend, and hold harmless the company, its affiliates and its and their respective owners, investors, contractors, officers, directors, members, managers, partners, shareholders, licensors, suppliers, customers, employees, agents, third-party advertisers, technology providers and service providers from and against any loss, damage, cost, or liability (including, reasonable attorneys' fees) resulting from or relating in any way to a third-party claim, demand, action or proceeding that arises out of this Agreement or the Website, including but not limited to in relation to: (a) your use, non-use or misuse of, or connection to the Website, the Services and any Content (including without limitation your Content and any third party Content) forming part of the Website;
Changes to Terms
The company reserves the right to make changes to the terms of service at any time without giving the customer any prior notice or future notification. It is the customer's responsibility to keep up-to-date with the current terms each time they use the website.