LAPO Blockchain whitelist & presale terms & conditions

PLEASE READ THIS SECTION AND THE FOLLOWING SECTIONS CAREFULLY. IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT YOUR LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S).

PREAMBLE

This “LAPO Blockchain Whitelist & Presale Terms & Conditions” (the “T&Cs”) is concluded between LUI.IS GmbH, a limited liability company (stock corporation) organized under the laws of Switzerland, having its seat in Locarno, Switzerland, registered with the commercial register (Handelsregister) of the local court (Amtsgericht) Ticino under CHE‑462.403.509, with business address at: Via Torretta 1, Locarno (hereinafter “LAPO Blockchain”, “LAPO”, “us”, “we”), or any legal successor of LAPO Blockchain, and any entity that fulfils the criteria set out in these T&Cs and accepts the terms provided herein (hereinafter “Participant”, “Coin Holder”, “Buyer”, “you”). Parties to the T&Cs are herein referred to individually as a “Party” and collectively as the “Parties”.

LAPO Blockchain develops and operates solutions including mobile applications that help its users among others send and exchange cryptocurrency and accept cryptocurrency payments.

The Participant provides payments to LAPO Blockchain in connection with the Presale of cryptographic coin existent on the LAPO Blockchain that can enable usage of and interactions with certain services (“Services”) to be implemented by LAPO Blockchain on the LAPO Blockchain website or mobile applications (“Ecosystem”) after having closed the Presale. The cryptographic coin are hereinafter referred to as "LAX" or “LAPO“.

By accessing and using our website (https://app.lapo.io, the “Website”) or participating in the Presale, Participants agree to these T&Cs.

Please read the T&Cs carefully. If you do not agree to all of these terms, please do not use this Website or any information, links or content contained on this Website and do not participate in the Presale.

This document does not constitute a prospectus or offering or securities of any sort or any other form of capital investment product and is not a solicitation for investment.

1. LAX Presale and Service Description

The LAPO Blockchain Presale represents a voluntary contribution towards the implementation of crypto services in the Ecosystem. These Services, the Presale and the usage of LAX are described in the Whitepaper (as stated on the Website). For the redemption of LAXs for Services as well as for the usage of these Services the Coin Usage Terms & Conditions apply (as stated on the Website and after availability of the Services in the relevant locations in the Ecosystem). The Whitepaper and the latter are herein jointly referred to as the “Accompanying Documents”.

The LAX does not grant equity stake nor profit sharing. It does not represent an ownership right or direct claim in the LAPO Blockchain Ecosystem, revenues, profits or intellectual property, either present or future. Despite LAPO Blockchain team’s best efforts and diligence to bring this project forward, all Participants should be aware that their contributions are not refundable and accept the inherent risk (as outlined below) of project failure at any stage of development. This implicit risk is associated with any and all uncertainty of backing technologically-focused entrepreneurial projects, and can be affected by either internal or external factors that are out of the control scope of LAPO Blockchain. Additionally, Participants may be subject to any applicable compliance regulations (including KYC, AML and others where applicable).

The LAX can be used in the Ecosystem with a corresponding utility value and will not provide any redemption rights. We believe that LAXs do not qualify as a security or any other form of capital investment product and do not provide a Participant equity share in the legal structure of LAPO Blockchain.

The LAX can be used for purchases within the LAPO Blockchain Ecosystem or can be accepted by any third party.

If you purchase LAX via Ethereum or Bitcoin we will use the following exchange rate to derive the value in CHF which then is the basis for the number of LAXs assigned to you. We use the volume-weighted average price of Ethereum respectively from the leading exchanges. We pull that prices from CryptoCompare and update the price four times a day at around 0.00, 6.00, 12.00 and 18.00 central European time.

If you purchase LAX via credit card or FIAT, LAPO Blockchain may withhold the LAXs assigned to you for up to 180 days before transferring them to your wallet to protect you and LAPO Blockchain against credit card fraud. Once Coin are assigned to your wallet they cannot be refunded due to the design of the blockchain, so LAPO Blockchain would not be able to process any chargebacks. We therefore accept the inconvenience of a late LAX transfer and put the safety of your payments first.

2. Scope of Terms

Unless otherwise stated herein, these T&Cs only govern your purchase of LAX from LAPO Blockchain during the Whitelist and Presale as defined in the Whitepaper.

Any use of LAX in connection with providing or receiving Services on the Ecosystem may be governed by other applicable terms and conditions and policies.

3. Participation requirements

If you want to buy LAXs with cryptocurrencies, you can send your Ethereum (“ETH”) or Bitcoin ("BTC") units from any cryptocurrency wallet (such as but not limited to Coinbase, Poloniex).

During the sale process you will be prompted to insert a new address of an LAPO wallet that supports the LAPO Blockchain standard in order to receive any Coin you purchase from us. We reserve the right to prescribe additional guidance regarding specific wallet requirements.

You are responsible for implementing reasonable measures for securing your wallet, vault, or other storage mechanism you use to receive and hold LAX purchased from us, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s). If your private key(s) or other access credentials are lost, you may lose access to your Coins. We are not responsible for any losses, costs, or expenses relating to lost access credentials.

We may determine, in our sole discretion, that it is necessary to obtain certain information about you in order to comply with applicable laws (e.g. KYC/AML) or regulations in connection with selling LAX to you. You agree to provide us such information promptly upon request and acknowledge that we may refuse to sell LAXs to you until you provide such requested information and we have determined that it is permissible to sell you LAXs under applicable laws or regulations.

4. Cancellation: Refusal of Purchase Requests / Refunds

All purchases of LAX from us during the Whitelist and Presale are final, and there are no refunds or cancellations except as set forth herein or as may be required by applicable law or regulation. We reserve the right to refuse or cancel LAX purchase requests at any time in our sole discretion.

LAPO Blockchain may pause the LAX sale during the Whitelist or Presale periods in our sole discretion. Reasons for such a pause among others can be: material increase in Ethereum price volatility (e.g. Ethereum price crash), news that might impact the price volatility, suspicion of systematic fraud when purchasing LAX, or significant higher load of IT systems than expected.

5. Right of Withdrawal

You have the right to withdraw from this contract within 5 days without giving any reason. The withdrawal period will expire after 5 days from the day of the conclusion of the contract.

To exercise the right of withdrawal, you must inform us (LUI.IS GmbH, Via Torretta 1, 6600 Locarno, Switzerland email: lapo@lui.is) of your decision to withdraw from this contract by an unequivocal statement (e.g. a letter sent by post or e-mail). You may use the attached model withdrawal form, but it is not obligatory.

To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.

Effects of withdrawal

If you withdraw from this contract, we shall reimburse to you all payments received from you, including the costs of delivery (with the exception of the supplementary costs resulting from your choice of a type of delivery other than the least expensive type of standard delivery offered by us), without undue delay and in any event not later than 30 days from the day on which we are informed about your decision to withdraw from this contract. We will carry out such reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement.

6. Taxation

Any amounts that you pay for LAX are exclusive of all applicable taxes. You are responsible for determining what, if any, taxes apply to your purchase of LAXs, including, for example, sales, use, value added, and similar taxes. It is also your responsibility to withhold, collect, report and remit the correct taxes to the appropriate tax authorities. We are not responsible for withholding, collecting, reporting, or remitting any sales, use, value added, or similar tax arising from your purchase of LAXs.

However, in case we are obliged to withhold tax, this will be shown separately in our invoice.

7. Acknowledgment and Assumption of Risks

You acknowledge and agree that there are risks associated with purchasing, owning, and using LAX for the provision or receipt of Services on the Ecosystem, as disclosed and explained in Annex 1.

BY PURCHASING COIN, YOU EXPRESSLY ACKNOWLEDGE AND ASSUME THESE RISKS.

8. Representations and warranties

By purchasing LAX from us, you (the Participant) represent and warrant that:

a) You have read and understand these T&Cs (including all Annexes and Accompanying Documents);

b) You agree and acknowledge that LAX do not constitute securities in any form or any other form of capital investment product in any jurisdiction;

c) You agree and acknowledge that these T&Cs and any Accompanying Documents do not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or any other form of capital investment product in any jurisdiction or a solicitation for investment in securities and you are not bound to enter into any contract or binding legal commitment and no cryptocurrency or other form of payment have to be accepted on the basis of these T&Cs and any Accompanying Documents;

d) You acknowledge and agree that there are risks associated with purchasing Coins, owning Coins, and using Coins for the provision or receipt of Services including (but not necessarily limited to) the risks described in the Annex 1;

e) You have sufficient understanding of technical, financial and business matters (including those that relate to the Services and Ecosystem), cryptographic coins, coins storage mechanisms (such as token wallets), and blockchain technology to understand these T&Cs and any Accompanying Documents and to appreciate the risks and implications of purchasing Coins;

f) You understand the restrictions and risks associated with the creation of Coins as set forth herein and in the Accompanying Documents, and acknowledge and assume all such risks;

g) You have obtained sufficient information about the Coin, the Services and the Ecosystem to make an informed decision to purchase Coins;

h) You understand that the Coins confer only the right to provide and receive Services on the Ecosystem (and potentially contribute to the technical development of the Ecosystem), and confer no other rights of any form with respect to the Ecosystem or LAPO Blockchain, including, but not limited to, any ownership, distribution, redemption, liquidation, proprietary (including all forms of intellectual property), or other financial or legal rights, except as stated in these T&Cs;

i) You are purchasing LAX solely for the purpose of receiving Services, and supporting the development, testing, deployment and operation of the Ecosystem, being aware of the commercial risks associated with LAPO Blockchain and the Ecosystem. You are not purchasing Coins for any other purposes, including, but not limited to, any investment, speculative or financial purpose;

j) Your purchase of Coins complies with applicable laws and regulations in your jurisdiction, including, but not limited to, (i) legal capacity and any other threshold requirements in your jurisdiction for the purchase of the Coins and entering into contracts with LAPO Blockchain, (ii) any foreign exchange or regulatory restrictions applicable to such purchase, and (iii) any governmental or other consents that may need to be obtained;

k) You will comply with any applicable tax obligations in your jurisdiction arising from your purchase of coins;

l) If you are purchasing Tokens on behalf of any entity, you are authorized to accept these T&Cs on such entity’s behalf and that such entity will be responsible for breach of these T&Cs by you or any other employee or agent of such entity (references to “you” in these T&Cs refer to you and such entity, jointly);

m) You are neither a citizen or permanent resident of the Hong Kong SAR, the Peoples Republic of China, or resident of the Republic of Singapore, Socialist Republic of Vietnam nor resident of a country where American embargoes and sanctions are in force, namely Iran, North Korea, Syria, Sudan.

n) You are neither a U.S. citizen or permanent resident of the United States, nor do you have a primary residence or domicile in the United States, including Puerto Rico, the U.S. Virgin Islands, and any other possession of the United States. Should this change at any time, you shall immediately notify LAPO Blockchain.

o) You are not (i) a citizen or resident of a geographic area in which access to or use of the Services or the acceptance of delivery of the Coins is prohibited by applicable law, decree, regulation, treaty, or administrative act, (ii) a citizen or resident of, or located in, a geographic area that is subject to U.S. or other sovereign country sanctions or embargoes, or (iii) an individual, or an individual employed by or associated with an entity, identified on the U.S. Department of Commerce’s Denied Persons or Entity List, the U.S. Department of Treasury’s Specially Designated Nationals or Blocked Persons Lists, or the U.S. Department of State’s Debarred Parties List. You agree that if your country of residence or other circumstances change such that the above representations are no longer accurate, that you will immediately cease using the Services. If you are registering to use the Services on behalf of a legal entity, you further represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, and (ii) you are duly authorized by such legal entity to act on its behalf;

p) You agree that the Coins may not be resold to United States purchasers, other than as may be permitted pursuant to applicable exemptions under the U.S. Securities Act of 1933, as amended (the “Securities Act”), including pursuant to Regulation S and/or Regulation D promulgated thereunder. If you purchase Coins in the Presale, you will be unable to resell the Coins into the United States unless such resale is registered with the U.S. Securities and Exchange Commission or unless an applicable exemption under the Securities Act applies.

9. Limitation of Liability

To the fullest extent permitted by applicable law (i) in no event will LAPO Blockchain or any of the company parties be liable for any indirect, special, incidental, consequential, or exemplary damages of any kind (including, but not limited to, where related to loss of revenue, income or profits, loss of use or data, or damages for business interruption) arising out of or in any way related to the sale or use of LAX or otherwise related to these terms, regardless of the form of action, whether based in contract, tort (including, but not limited to, simple negligence, whether active, passive or imputed), or any other legal or equitable theory (even if the party has been advised of the possibility of such damages and regardless of whether such damages were foreseeable), and (ii) in no event will the aggregate liability of LAPO Blockchain and the company parties (jointly), whether in contract, warranty, tort (including negligence, whether active, passive or imputed), or other theory, arising out of or relating to these terms or the use of or inability to use LAX, exceed the amount you pay to us for LAX.

The limitations set forth in these terms, in particular, in the previous paragraph will not limit or exclude the liability for the gross negligence, fraud or intentional, wilful or reckless misconduct of the company or its representatives, nor the liability for damage from breaches of fundamental contractual obligation, injury to life, body or health by intention or negligence of the company or its representatives.

10. Disclaimers and waivers

Important notice

The LAX are not intended to constitute securities, financial instruments or any other form of capital investment product in any jurisdiction. These T&Cs and any Accompanying Documents do not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or any other form of capital investment product or a solicitation for investment in securities or any other form of capital investment product in any jurisdiction.

These T&Cs and any Accompanying Documents do not constitute or form part of any opinion on any advice to sell, or any solicitation of any offer by the seller of the LAX to purchase any LAX nor shall it or any part of it nor the fact of its presentation form the basis of, or be relied upon in connection with, any contract or investment decision.

No person is bound to enter into any contract or binding legal commitment in relation to the sale and purchase of the LAX and no cryptocurrency or other form of LAX is to be accepted on the basis of these T&Cs.

In the event of any inconsistencies between these T&Cs and the Whitepaper or any other Accompanying Documents, the former shall prevail. You are not eligible to purchase any LAX in the ITS if you are a citizen, resident (tax or otherwise) or green card holder of the United States of America, including Puerto Rico, the U.S. Virgin Islands, and any other possession of the United States, People’s Republic of China or a citizen or resident a country where American embargoes and sanctions are in force, namely Iran, North Korea, Syria, Sudan, or Cuba or any other geographic area in which the purchase of LAX is prohibited by applicable law, decree, regulation, treaty, or administrative act.

No regulatory authority has examined or approved of any of the information set out in these T&Cs. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of these T&Cs and any Accompanying Documents do not imply that the applicable laws, regulatory requirements or rules have been complied with.

There are risks and uncertainties associated with LAPO Blockchain and its respective businesses and operations, the LAX, the ITS and the Services (each as referred to in these T&Cs and any Accompanying Documents). These T&Cs and any Accompanying Documents, any part thereof and any copy thereof must not be taken or transmitted to any country where distribution or dissemination of these T&Cs and any Accompanying Documents is prohibited or restricted.

10.1 No representations and warranties by LAPO Blockchain

LAPO Blockchain does not make or purport to make, and hereby disclaims, any representation, warranty or undertaking in any form whatsoever to any entity or person, including any representation, warranty or undertaking in relation to the truth, accuracy and completeness of any of the information set out in these T&Cs and any Accompanying Documents.

10.2 Cautionary note on forward-looking statements

All statements contained in these T&Cs and any Accompanying Documents, statements made in press releases or in any place accessible by the public and oral statements that may be made by LAPO Blockchain or their respective directors, executive officers or employees acting on behalf of LAPO Blockchain (as the case may be), that are not statements of historical fact, constitute “forward-looking statements”. Some of these statements can be identified by forward-looking terms such as “aim”, “target”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “if”, “intend”, “may”, “plan”, “possible”, “probable”, “project”, “should”, “would”, “will” or other similar terms. However, these terms are not the exclusive means of identifying forward-looking statements. All statements regarding LAPO Blockchain’s financial position, business strategies, plans and prospects and the future prospects of the industry which LAPO Blockchain is in are forward-looking statements. These forward-looking statements, including but not limited to statements as to LAPO Blockchain’s revenue and profitability, prospects, future plans, other expected industry trends and other matters discussed in these T&Cs and any Accompanying Documents regarding LAPO Blockchain are matters that are not historical facts, but only predictions.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual future results, performance or achievements of LAPO Blockchain to be materially different from any future results, performance or achievements expected, expressed or implied by such forward-looking statements.

These factors include, amongst others:

(a) changes in political, social, economic and stock or cryptocurrency market conditions, and the regulatory environment in the countries in which LAPO Blockchain conducts its businesses and operations;

(b) the risk that LAPO Blockchain may be unable or execute or implement its business strategies and future plans;

(c) changes in interest rates and exchange rates of fiat currencies and cryptocurrencies;

(d) changes in the anticipated growth strategies and expected internal growth of LAPO Blockchain;

(e) changes in the availability and fees of LAPO Blockchain in connection with their respective businesses and operations;

(f) changes in the availability and salaries of employees who are required by LAPO Blockchain to operate its businesses and operations;

(g) changes in preferences of customers of LAPO Blockchain;

(h) changes in competitive conditions under which LAPO Blockchain operate, and the ability of LAPO Blockchain to compete under such conditions;

(i) changes in the future capital needs of LAPO Blockchain and the availability of financing and capital to fund such needs;

(j) war or acts of international or domestic terrorism;

(k) occurrences of catastrophic events, natural disasters and acts of God that affect the businesses and/or operations of LAPO Blockchain;

(l) other factors beyond the control of LAPO Blockchain; and

(m) any risk and uncertainties associated with LAPO Blockchain and its businesses and operations, the LAX and the ITS (each as referred to in the T&Cs and any Accompanying Documents).

All forward-looking statements made by or attributable to LAPO Blockchain or persons acting on behalf of LAPO Blockchain are expressly qualified in their entirety by such factors. Given that risks and uncertainties that may cause the actual future results, performance or achievements of LAPO Blockchain to be materially different from that expected, expressed or implied by the forward-looking statements in these T&Cs and any Accompanying Documents, undue reliance must not be placed on these statements. These forward looking statements are applicable only as of the date of this Whitepaper.

Neither LAPO Blockchain nor any other person represents, warrants and/or undertakes that the actual future results, performance or achievements of LAPO Blockchain will be as discussed in those forward-looking statements. The actual results, performance or achievements of LAPO Blockchain may differ materially from those anticipated in these forward-looking statements. Nothing contained in these T&Cs and any Accompanying Documents is or may be relied upon as a promise, representation or undertaking as to the future performance or policies of LAPO Blockchain. Further, LAPO Blockchain disclaims any responsibility to update any of those forward- looking statements or publicly announce any revisions to those forward-looking statements to reflect future developments, events or circumstances, even if new information becomes available or other events occur in the future.

10.3 Market and industry information and no consent of other persons

These T&Cs and any Accompanying Documents includes market and industry information and forecasts that have been obtained from internal surveys, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Such surveys, reports, studies, market research, publicly available information and publications generally state that the information that they contain has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information.

Save for LAPO Blockchain and its respective directors, executive officers and employees, no person has provided his or her consent to the inclusion of his or her name and/or other information attributed or perceived to be attributed to such person in connection therewith in this Whitepaper and no representation, warranty or undertaking is or purported to be provided as to the accuracy or completeness of such information by such person and such persons shall not be obliged to provide any updates on the same.

While LAPO Blockchain has taken reasonable actions to ensure that the information is extracted accurately and in its proper context, LAPO Blockchain has not conducted any independent review of the information extracted from third party sources, verified the accuracy or completeness of such information or ascertained the underlying economic assumptions relied upon therein. Consequently, neither LAPO Blockchain nor its respective directors, executive officers and employees acting on their behalf makes any representation or warranty as to the accuracy or completeness of such information and shall not be obliged to provide any updates on the same.

11.4 Terms used

To facilitate a better understanding of the LAXs being offered for purchase by LAPO Blockchain, and the businesses and operations of LAPO Blockchain, certain technical terms and abbreviations, as well as, in certain instances, their descriptions, have been used in these T&Cs and any Accompanying Documents. These descriptions and assigned meanings should not be treated as being definitive of their meanings and may not correspond to standard industry meanings or usage. Words importing the singular shall, where applicable, include the plural and vice versa and words importing the masculine gender shall, where applicable, include the feminine and neuter genders and vice versa. References to persons shall include corporations.

10.5 No advice

No information in these T&Cs and any Accompanying Documents should be considered to be business, legal, financial or tax advice regarding LAPO Blockchain, the LAX tokens, the LAPO Blockchain Initial Token Sale and the LAPO Blockchain Wallet (each as referred to in the T&Cs and any Accompanying Documents). You should consult your own legal, financial, tax or other professional adviser regarding LAPO Blockchain and its respective businesses and operations, the LAX tokens, the LAPO Blockchain Initial Token Sale and the LAPO Blockchain Wallet (each as referred to in the T&Cs and any Accompanying Documents). You should be aware that you may be required to bear the financial risk of any purchase of LAX tokens for an indefinite period of time.

10.6 No further information or update

No person has been or is authorized to give any information or representation not contained in these T&Cs and any Accompanying Documents in connection with LAPO Blockchain and its respective businesses and operations, the LAXs as well as the ITS and, if given, such information or representation must not be relied upon as having been authorized by or on behalf of LAPO Blockchain. The ITS shall not, under any circumstances, constitute a continuing representation or create any suggestion or implication that there has been no change, or development reasonably likely to involve a material change in the affairs, conditions and prospects of LAPO Blockchain or in any statement of fact or information contained in these T&Cs and any Accompanying Documents since the date hereof.

10.7 No offer of securities or registration

These T&Cs and any Accompanying Documents do not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or any other form of investment product or a solicitation for investment in securities or any other form of investment product in any jurisdiction. No person is bound to enter into any contract or binding legal commitment and no cryptocurrency or other form of payment is to be accepted on the basis of these T&Cs and any Accompanying Documents. You are not eligible to purchase any LAX in the ITS if you are a citizen, resident (tax or otherwise) or green card holder of the United States of America including Puerto Rico, the U.S. Virgin Islands, and any other possession of the United States, People’s Republic of China or a resident of a country where American embargoes and sanctions are in force, namely Iran, North Korea, Syria, Sudan, or Cuba or any other geographic area in which the purchase of LAX is prohibited by applicable law, decree, regulation, treaty, or administrative act. No regulatory authority has examined or approved of any of the information set out in these T&Cs and any Accompanying Documents. No such action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution or dissemination of these T&Cs and any Accompanying Documents does not imply that the applicable laws, regulatory requirements or rules have been complied with.

10.8 Risks and uncertainties

Prospective purchasers of LAX should carefully consider and evaluate all risks and uncertainties associated with LAPO Blockchain and its respective businesses and operations, the LAXs and the ITS, all information set out in these T&Cs and any Accompanying Documents and the T&Cs prior to any purchase of LAX. If any of such risks and uncertainties develops into actual events, the business, financial condition, results of operations and prospects of LAPO Blockchain could be materially and adversely affected. In such cases, you may lose all or part of the value of the LAX.

11. Dispute Resolution: Arbitration

11.1 Binding Arbitration

As far as you are not a consumer pursuant to Swiss Civil Code, all disputes arising in connection with this contract or its validity shall be finally settled in accordance with the Arbitration Rules of the Swiss Chambers' arbitration institution (SCAI) without recourse to the ordinary courts of law. The place of arbitration is Lugano, Switzerland. The number of arbitrators shall be three. The language of the arbitral proceedings is Italian or English.

11.2 No Class or Representative Arbitrations

Any Dispute arising out of or related to these T&Cs is personal to you and LAPO Blockchain and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which an individual attempts to resolve a Dispute as a representative of another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.

12. Changes to the Terms & Conditions

We may modify, change, supplement or update these T&Cs and any Accompanying Documents in our sole discretion at any time without advance notice. We suggest that you visit the Website regularly and subscribe to our newsletter to keep up to date with any changes. Your continued use of the Website and the LAX will confirm your acceptance of these T&Cs and Accompanying Documents as modified, changed, supplemented or updated by us. If you do not agree to such revised T&Cs you must stop using this Website and any information, links or content contained on this Website and cease participating in the ITS.

13. Miscellaneous provisions

13.1 Governing Law and Venue

These Terms will be governed by and construed and enforced in accordance with the laws of the Confederation of Switzerland (“Switzerland”), without regard to conflict of law rules or principles (whether of Switzerland or any other jurisdiction) that would cause the application of the laws of any other jurisdiction. The courts of Locarno shall have the whole and exclusive jurisdiction.

13.2 Severability

If any term, clause or provision of these T&Cs is held unlawful, void or unenforceable, then that term, clause or provision will be severable from these T&Cs and will not affect the validity or enforceability of any remaining part of that term, clause or provision, or any other term, clause or provision of these T&Cs. In the case of a clause not being valid or in the case that a regulation has not been included therein, this gap shall be replaced by a valid clause that the Parties would have been agreed upon if they would have known the gap.

13.3 No waiver

The failure of LAPO Blockchain to enforce any of the provisions of these T&Cs or any Accompanying Document or any rights with respect thereto shall in no way be considered as a waiver of such provisions or rights or in any way affect the validity of these T&Cs.

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