Syntra Exchange Terms & Conditions and Privacy Policy

1. Terms & Conditions

1. Introduction

1.1. You agree to be bound by these Terms of Service in its entirety when creating an account with Syntra Exchange which shall continue whilst using and accessing the Services.

1.2. You further agree that the use and access of the Services serves is confirmation that you are aware or have been made aware of these Terms and Conditions, which have been read and understood.

1.3. It is therefore understood that upon creating an account with Syntra Exchange this constitutes the agreement between you and Syntra Exchange S.R.O

 

2. Interpretation:

The following meanings and interpretations shall apply to this Agreement:

2.1. “This agreement” or “terms of service” or “Terms and conditions” is this agreement and the Privacy Policy contained herein.

2.2. “Business hours” means 8 am to 5 pm South African time from Monday to Friday (business days)

2.3. “Services” is the cryptocurrency exchange for similar cryptocurrency trading platform services provided by Syntra Exchange on its websites.

 

3. Risk Notice:

The user understands and is aware of the risk in dealing or trading in Cryptocurrency and solely undertakes to assume such inherent or associated risk as a result of the volatile nature of Cryptocurrency and its limitations in the commercial marketplace.

 

4. Creation and Operation of User Accounts:

4.1. Every user is required to open a Syntra Exchange account to start Cryptocurrency trading transactions and accept the terms of this agreement.

4.2. User access and Syntra Exchange services shall only be provided to individuals who have attained majority (18 years old and older).

4.3. Access to services shall be prohibited to any individuals, entities, or countries deemed Sanctioned and such determination shall be at our sole discretion.

 

5. Know-your-customer (KYC) and Anti-money Laundering (AML):

5.1. Every user is required to adhere to the KYC & AML policy of Syntra Exchange and undertakes to provide accurate, current, and complete information about itself upon the account registration process.

5.2. Under the KYC & AML policy, every user’s information provided shall be verified to identify each person opening an account with Syntra Exchange. The User undertakes to provide such identifying information and documentation required by Syntra Exchange to identify themselves and to verify under our internal KYC & AML policy and due diligence.

5.3. Syntra Exchange reserves the right, at its sole discretion or otherwise required by law or regulatory requirement, to refuse or reject the registration of a User account.

 

6. User Account Security:

6.1. An account will be created for our users to log into our systems. As a user, you will need to understand losses that may result from any fraudulent or accidental transactions are not recoverable and are generally irreversible when transacting in Cryptocurrencies.

6.2. Our users will be authenticated to ensure maximum security by the two-factor authentication provided by our platform.

6.3. Users are advised to take the following safety precautions:

6.3.1. Create strong passwords: Strong passwords are unique and consist of a combination of uppercase and lowercase letters, numbers, and special symbols. They should be at least 12 characters long.

6.3.2. Email account protection: Your email account should be kept secure so that unauthorized access to your account through two-factor verification is prohibited.

6.4. If you feel your account has been compromised, then please let us know as soon as possible by contacting our compliance department whose details are included in our terms and conditions.

 

7. Funding, Withdrawals, and Payments:

7.1. Sufficient fiat currency shall be deposited to fund the User’s Cryptocurrency trading activities provided by the Syntra Exchange.

7.2. Supported Cryptocurrency of the user’s choice shall be converted from fiat currency deposited and allocated to the User’s account.

7.3. The only acceptable form of payment shall be cleared Electronic Funds Transfer (EFT) deposited. No cash payment shall be accepted.

7.4. Syntra Exchange holds in its sole discretion the right to impose restrictions on the amounts of fiat currency allowed by the user at any time or as an aggregate over any period.

7.5. Withdrawal orders shall be executed within 5 business days upon verification and validation of such instructions.

7.6. Withdrawals of Cryptocurrency shall be paid in rand as a base currency for purposes of conversion to a verified personal South African bank account linked to the user’s account where the use or access to the Syntra Exchange services. The rates of conversion shall be the rate at the time of the withdrawal order placement and may be found on (Website)

7.7. Execution and transmission of trading orders for immediate execution shall be performed upon receipt of such instructions via the User’s account or Syntra Exchange over-the-counter (OTC) facility.

 

8. Funds received Erroneously:

8.1. In the event the user receives fiat or cryptocurrency funds erroneously to their User Account, the User acknowledges that no right these funds are provided to such use and that the user shall notify Syntra Exchange of such funds received in error immediately.

8.2. Syntra Exchange holds the right to recover funds, whether in fiat or cryptocurrency, received by the user and accepts that such funds be recovered against any funds held in the users’ accounts.

 

9. The Services
9.1. The services and the supporting terms and conditions are provided subject to this agreement.

9.2. Syntra Exchange undertakes to make reasonable endeavors to always make its services available except in instances of:

9.2.1. Planned maintenance is carried out during the stipulated maintenance times allocated.
9.2.2. Unplanned maintenance performed outside of Normal Business Hours.

9.3. The User shall have access to user support during normal business hours by the details provided on the Syntra Exchange website.

 

10. Charges and Payment:

10.1. The use of Syntra Exchange services is subject to transaction fees stipulated at www.syntra.exchange which shall be deducted in real-time from funds associated with the user’s account.

10.2. Syntra Exchange reserves the right to debit your user account at any time to recover fiat or cryptocurrency funds arising from this agreement.

 

11. Syntra Exchange undertakings:

11.1. Syntra Exchange undertakes to provide its services under this agreement.

11.2. Syntra Exchange shall not

11.2.1. Shall not warrant uninterrupted or error-free use of the services; and
11.2.2. Bare responsibility for trading order delays, and trading order failures, and bears no accountability and responsibility for any other loss or damage resulting from the transfer of data over communication networks and facilities, that includes the internet. The user accepts that the Services may be subject to limitations, delays, and problems inherent in communication facilities.

 

12. User warranties and undertakings:

12.1. The user undertakes:

12.1.1. To provide Syntra Exchange with the necessary cooperation required in terms of this agreement and Provide access to all information as may be necessary to render the Services;

12.1.2. To comply with the laws and regulations governing your activities and the services rendered under this agreement; And

12.1.3. To ensure its network and systems comply with the specification required to render the services under this agreement and shall be solely responsible for obtaining and maintaining such network connections and telecommunication links from its system to that of Syntra Exchange.

12.2. The User warrants and acknowledges that:

12.2.1. It is knowledgeable of the tax requirements arising from the use of its service, which includes any tax remittances to the South African Receiver of Revenue or any other relevant Tax Authority;
12.2.2. It is solely reliable for fulfilling its tax obligations that arise from the use of the services and that accepts that Syntra Exchange shall have no responsibility to such tax obligations by the user;
12.2.3. It has understood that any capital or exchange control restrictions that may arise from the user of the services include the limitation on dealing with foreign capital or rights to the capital with the necessary regulatory approval required.
12.2.4. It shall not use or take advantage of the services provided to circumvent tax obligations and it is the user’s sole responsibility to fulfill its tax obligations;

 

13. Termination:

13.1. The user may close its account at any time by providing a 30-day notice to Syntra Exchange via its user account on www.syntra.exchange . The user accepts that upon such notice of account closure any open or pending transactions will be closed at the rate determined on the company’s aforementioned website at such time and the execution of withdrawal order in favour of the user shall be made in respect of the funds remaining on the user’s account.

13.2. The user’s account may be suspended or closed if it becomes necessary to do so as a result of economical, technological, structural, or similar requirements.

13.3. Syntra Exchange holds the right to terminate the users account at any time based on the following grounds if the User:

13.3.1. Uses the services in bad faith;

13.3.2. Contravenes or is non-compliant with these Terms and Conditions of service;

13.3.3. Abused the services in a manner that it is used to contravene good faith or public policy;

13.3.4. Causes the integrity or security of the services or the use of services by other users directly or indirectly;

13.3.5. Provides fraudulent misrepresentation to Syntra Exchange when providing requested information;

13.3.6. Fails effect any payment that is payable to Syntra Exchange;

13.3.7. Syntra Exchange determines, at its sole discretion, that unauthorized or suspicious activity is detected on the user’s account which may include suspicion of money laundering, multiple account operations, or use of the services in a manner that may be linked to sanctions or otherwise prohibited countries and persons or digital wallet addresses;

13.3.8. Has a bad reputation which may be in turn detrimental to the reputation of Syntra Exchange for the continued association;

13.3.9. The user’s account remains dormant for a period of 6 consecutive months;

13.3.10. Use of the services falls within the laws of a country where it is illegal for Syntra Exchange to operate;

13.3.11. Use of the services Is subject to legal requirements or laws which require suspension or closure of the account;

13.4. Any payments or refunds due to the user may be suspending any investigation in the following scenarios:

13.4.1. It is determined that the transaction activity on the user’s account may be or is suspected to be connected to prohibited or sanctioned countries and persons or wallet addresses, or any high risk or illegal high-risk counterparties or services which include:
13.4.1.1. Shops dealing in fraud, scams, or pyramid schemes;
13.4.1.2. Markets linked or operating on the dark web;
13.4.1.3. Mixing in efforts to conceal illicit sources of funds or assets;
13.4.1.4. Gambling;
13.4.1.5. Peer-to-peer exchange markets;
13.4.1.6. Child pornography and abuse;
13.4.1.7. Activities associated with terrorist financing;
13.4.1.8. High-risk exchange with a lack of know-your-client and anti-money laundering protocol;
13.4.1.9. Ransomware activities;
13.4.1.10. Any other suspected criminal or illegal activity.

13.5. The user’s account may be terminated where criminal or illegal activity is suspected or attributed to the user or its account or where it is probable or suspected that the user may face civil sanctions or penalties in connection with the user of the services.

 

14. User Data, Privacy, Protection, And Security:

14.1. The user owns all rights, title, and interest in respect of and linked to the data used and is responsible for the integrity and accuracy of such data that is provided by the user;

14.2. The user accepts that Syntra Exchange uses archiving procedures of data under its privacy policy and that the sole remedy against Syntra Exchange by the user shall be in respect of reasonable commercial endeavors to restore user data that may be lost or damaged. The user further agrees that Syntra Exchange may not be held liable for any loss, destruction, alteration, or disclosure of the user Data caused by a third party;

14.3. Syntra Exchange and the user both accept and agree to comply with data protection and privacy legislation.

14.4. The user acknowledges and agrees that data linked to its account or about the user may be transferred or stored in servers outside of South Africa or the country where the user is using the services of Syntra Exchange. Transfer and storage of data may only be held in a country that has similar protection provided under the protection of personal information law of South Africa.

14.5. Syntra Exchange shall not process its user’s data without prior consent as envisaged herein.

14.6. Syntra Exchange ensures that the necessary technical measures and controls, having regard to the technological developments and costs associated thereto, are in place to protect its users against unlawful processing of user information that may result from unauthorized or unlawful processing, loss, destruction, or damage to information provided by the user.

14.7. By accepting this agreement, you accept that Syntra Exchange may appoint any third-party processors of user information that may be required in rendering the services of this agreement and the appointment of such providers will be similarly subject to the terms of this agreement.

 

15. Intellectual Property Rights:

15.1. The user agrees that the use of its services shall not entitle the user to the right or permission to the Syntra Exchange name or Trademark, or any other rights provided in the use of the services unless such permission is granted.

15.2. The user accepts that “Syntra Exchange” and its logo’s appearing on the website form the brand trademark and property of Syntra Exchange.

 

16. Reporting duty:

16.1. By entering this agreement, the User acknowledges and accepts that the Syntra Exchange has a duty on reporting the use of the services and may be required to provide such information to relevant concerned regulators, which may include, financial intelligence and surveillance, tax authorities, and receiver of revenues, as well as central banks.

 

17. Limitation of Liability:

17.1. Unless expressly provided for in this agreement:

17.1.1. The user shall assume and accepts all risks directly or indirectly attributed to the use of services. It is further agreed that Syntra Exchange shall not accept any liability whatsoever for damage in respect of loss whether financial or otherwise incurred when using its services or instructions by the user when rendering the services.

17.1.2. The use of services provided by Syntra Exchange shall not give rise to any expectation other than what is agreed upon herein. Syntra Exchange shall be held liable for any expectation to the satisfaction of the use of the service and the user accepts sole responsibility for such risk.

17.1.3. The user accepts that Syntra Exchange may not be held directly or indirectly liable for any loss or damages suffered as a result of failure to fulfill its duties as contained herein where such failure was beyond the control of Syntra Exchange, including where such failure results from a third party.

17.1.4. Syntra Exchange shall and may not be held liable for any transaction executed by the user in error. In the event such errors may be remedied, Syntra Exchange may assist such person in taking necessary measures to remedy or correct such mistake. No assistance provided by Syntra Exchange to remedy an error shall be considered as acceptance of any liability to the user whatsoever in respect of any error.

17.1.5. Syntra Exchange reserves its right to cancel or reverse any transaction executed in error by a user where possible.

 

18. Third-Party Providers:

18.1. Any affiliation to a third party with the user by providing access to the services shall be solely at the user’s own risk. Syntra Exchange is no representative or agent assuring the performance of such third parties.
18.2. Any agreement entered into between any third party and the user shall not extend to the agreement between the user and Syntra Exchange unless otherwise provided herein.
18.3. The user undertakes to familiarise themselves with the terms of service of any third party when agreeing with such party.

 

19. Use of fiduciary or brokerage services:
19.1. The user understands that Syntra Exchange shall provide any fiduciary or brokerage services when rendering its services to the user and any fiduciary service provider or broker appointed by the user shall be at the user’s own risk and consequences as a result thereto shall be of no concern for Syntra Exchange but solely the responsibility of the user.

 

20. Indemnification:
20.1. The user hereby undertakes on the demand of Syntra Exchange to indemnify and hold harmless (and keep indemnified and held harmless) (and its assignees, agents, employees, officers, directors, and affiliates) from and against any claims, demands, losses, costs, expenses, obligations, liabilities, damages, recoveries, and deficiencies, actions, proceedings including legal costs, interest, any Penalties, Fines, arising from, in connection with or relating to the conduct of the user or omissions of the user.

20.2. Whilst Syntra Exchange shall use its reasonable commercial efforts to perform the Services promptly it shall not be liable to the user or any third party if it is unable to perform its obligations under this Agreement as a result of the failure of any machine, computer, telephone line or software, whether owned by or to license to the Syntra Exchange or not, any industrial dispute or any cause that is outside the control of the Syntra Exchange.

20.3. Syntra Exchange shall not be held liable for:

20.3.1. any direct, indirect, incidental, punitive or consequential damages, pure economic loss or special damages, loss or costs of any nature whatever (including, without limitation, lost profits, lost revenues, loss of data, loss of use of any computer system, failure to realize expected savings, or other commercial or economic loss of any kind) however arising, even if the Syntra Exchange has been advised of the possibility thereof; and/ or
20.3.2. any damages, loss, or costs suffered or incurred by the user as a result of or arising from the user’s breach of this Agreement or otherwise arising from the user’s negligence or wilful misconduct.

20.4. Loss arising from or as a result of erroneous statements or errors in transmission, any delay, interruption, or failure to perform hereunder due to any circumstances beyond the Syntra Exchanges’ reasonable control including, without limitation, acts of God, fire, explosion, earthquake, riot, war, sabotage, accident, embargo, storms, strikes, lockouts, any interruption, failure or defects in the internet, telephone, or other interconnect services or in electronic or mechanical equipment, epidemics or pandemics (“Force Majeure”). Syntra Exchanges obligations shall be suspended during any period of Force Majeure and shall not constitute a breach of or a cause for the termination of this Agreement.

21. General:
21.1. This Agreement constitutes the whole of the Agreement between the Parties relating to the matters dealt with herein and, save to the extent otherwise provided herein, no undertaking, representation, term, or condition relating to the subject matter of this Agreement not incorporated in this Agreement shall be binding on any of the Parties.

21.2. No addition to or variation or consensual cancellation of this Agreement shall be of any force or effect unless such addition, variation, or consensual cancellation is reduced to writing and signed by both Parties. Notwithstanding the foregoing, Syntra Exchange may at any time amend any term in the Agreement relating to the Fees. Such amendments shall become effective upon transmission of such notice on the website.

21.3. If any provision of this Agreement is deemed illegal, invalid, or unenforceable, such provision shall be severed from this Agreement and the remaining provisions of this Agreement shall continue in force.

21.4. No waiver of any of the provisions in this Agreement shall be deemed or shall constitute a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless reduced to writing and signed by the Party waiving such provision.

21.5. No indulgence granted by a Party to the other Party or failure to strictly enforce any term of this Agreement shall be construed as a waiver of such term or be capable of founding estoppel.

2. Syntra Exchange Privacy Policy

2. PRIVACY POLICY

2.1. ‘Personal Information’ shall be read with the definition as contained in the Protection of Personal Information Act 4 of 2013 (“POPIA”) read with the description of ‘Personal Data’ contained in Article 4(1) of the General Data Protection Regulation GDPR (EU) 2016/679. Our company adheres to principles provided for collecting Personal Information electronically, as contained in POPIA and legislation referred to therein.

2.2. We value your legitimate business interests and expectation of privacy and take all reasonable steps to prevent unauthorized access or disclosure of your Personal Information.

2.3. Users of our platform will be required to register an account with us and will be required to provide the following personal information:

2.3.1. First Name and Surname as contained in identification documentation;
2.3.2. Physical Address;
2.3.3. Email Address;
2.3.4. Cell phone Number:
2.3.5. Date of Birth;
2.3.6. IP Address;
2.3.7. Identity Number;
2.3.8. Credit Card Information (which may be collected through our third-party payment processor);
2.3.9. Bank Account or Credit Card details;
2.3.10. Company Name and Registration Number; and
2.3.11. Further documentation, as may be required from time to time, by the local KYC (Know Your Customer) regulations of the territory or the Financial Intelligence Centre Act (FICA).

2.4. Personal Information shall be processed to administer your account, including processes such as onboarding, Know Your Customer and Anti-Money Laundering checks, and fraud checks, or as provided otherwise in this Privacy Policy.

2.5. The types of Personal Information processed shall be limited to those which are consented is provided. Consent to this Privacy Policy constitutes your consent as contemplated in Section 11 & 69 of POPIA and/or Article 7 of the GDPR. Specific consent shall be obtained where deemed necessary by law or otherwise.

2.6. To effectively render our services to you, we may share your Personal Information, where necessary, with website analytics services, identify verification and KYC/FICA partners, exchange platforms and order book partners, payment gateways, regulators, authorized exchange control dealers, and/or other regulatory authorities which may be required by law or third-party service provers required when rendering our services to you.

2.7. Payment and transaction information shall be performed via Electronic Funds Transfer (EFT) or credit and debit card. The designated bank account details of the user shall be retained for withdrawals when required.

2.8. Sensitive or special personal information (such as race or ethnic origins or political or religious beliefs) shall not be collected, used, or disclosed unless specifically permitted by law.

2.9. All Personal Information shall be collected and processed lawfully under the provisions of POPIA.

2.10. By agreeing to the terms contained herein, you consent to the processing of your Personal Information concerning:
2.10.1. The provision and performance of the services provided by our company;
2.10.2. Information of changes made to our platform and its terms and conditions, including our privacy policy;
2.10.3. Responding to your queries or requests; And
2.10.4. For security, administrative and legal purposes.

3. CROSS-BORDER TRANSFERS

3.1. To perform our services, it may be required for us to transfer Personal Information to a third party situated outside of South Africa. Where this is required, we undertake to:
3.1.1. Ensure compliance by such third party’s with this Privacy Policy insofar as it relates to the processing of Personal Information;

3.1.2. Prevent such Third Party from further transferring the Personal Information to another Third Party;

3.1.3. Take reasonable steps in ensuring Third Party’s have reasonable and appropriate technical and organizational security measures in place to safeguard the Personal Information.

4. YOUR RIGHTS AS A DATA SUBJECT

Your right as a data subject includes:

4.1. To request whether Personal Information has been processed by us and held by us free of charge;

4.2. To request any record held by us;

4.3. To withdraw your consent for us to process Personal Information at any time;

4.4. To challenge the accuracy of Personal Information held by us by requesting us to correct it or rectifying the Personal Information about you in our possession or under our control if the Personal Information is inaccurate, out of date, incomplete or misleading;

4.5. To object to the processing of information for purposes of direct marketing;

4.6. To request that Personal Information about you in our possession or under our control that is inaccurate, irrelevant, excessive, out of date, incomplete, misleading, or obtained unlawfully be deleted or destroyed. This right further extends to destroying or deleting personal information that we are no longer authorized to retain.

4.7. To request that we restrict or suspend the processing of Personal Information to only that which is strictly necessary for us to perform our services.

4.8. To lodge a complaint you may do so by contacting our compliance department via email at compliance@syntra.exchange.