Terms & Conditions

These general Terms & Conditions (hereinafter later referred to only as the T&C) govern all contractual relations between
Solidní finance, a.s. Company ID: 29235871
with their registered seat at: Slavíčkova 1a, Brno, ZIP: 63800.

as the first party, hereinafter later referred to as the “Provider” and the “Client” as the second party.

I. Web service venue

The Provider is a provider of the website operated at the following address:

www.sonatacoin.com

This web portal offers intermediary services for the buying and selling of cryptocurrencies according to the actual offer of the Provider.

II. Provided services

Through the web portal, the Provider provides the following services:

  • The buying of cryptocurrencies, following the client’s order and attributed to the client,
  • The selling of cryptocurrencies, following the client’s order and attributed to the client.

The buying of cryptocurrencies follows the actual offer of the Provider at the web portal. A cryptocurrency shall mean:

  • Data recorded in the bitcoin protocol (hereinafter later referred to only as “Bitcoin”) do not represent a receivable for the Bitcoin holder against any other person, therefore these are not non-cash funds.
  • Buying or selling of Bitcoins on own behalf does not represent any of the payment services pursuant to sec. 3 par.1 of the act on Payments (hereinafter later referred to only as the “AP”), nor any non-cash trade with foreign currency [sec. 2 par.1e) of the AP]. Also any transaction within the Bitcoin protocol does not represent any payment service in the terms of the AP (e.g. sending of a certain quantity of Bitcoins to any other protocol user) nor “keeping the account in Bitcoins” (when a different person administers Bitcoins on behalf of the owner, typically within the “virtual wallet” on the website.

III. Responsibilities of the Provider

The Provider waives any responsibility for any potential damage, caused by a drop in the exchange rate of cryptocurrencies, any legislation amendments having an impact on the tradability of cryptocurrency, prohibition of their trading, tax amendments or any other incidental event having an impact on cryptocurrency trading, expressly.

IV. Acceptance of T&C

By accepting these T&C, the Client declares that he’s familiarized with the principle of cryptocurrency trading, he’s aware of its legal and factual nature and he has sufficient information to assess all the risks related to cryptocurrency trading.

V. Investment and risks

The client takes into account the following facts:

Cryptocurrency trading represents trading with high risks where there’s no return of investment guaranteed and even a market failure or loss of value cannot be excluded.

Cryptocurrencies are not covered by any assets nor any value, and therefore, they are not accepted as a means of payment in general.

Investment into cryptocurrencies may be recommended only up to the value the investor may afford to lose.

VI. Origin of funds

The declaration of the Client on the origin of funds and the purpose of their use:

The Client declares that the origin of invested funds are his lawful incomes, savings or any other performance, compliant with the law.

The Client declares expressly that the invested funds and the purpose of investment does not serve for any of the following:

  • For the transfer of value for services designed for the purpose of hiding the recipient, provider or for the purpose of tax evasion
  • For the transfer of assets from or into countries considered as a risk of with high risks in respect of the prevention of legalisation of incomes from criminal activities or terrorism financing
  • For the transfer of assets (even partially) to any person or from a person that has its origin in any of the above-mentioned risky or high-risk countries. In the case of a natural person, the origin means where a citizen resides, and at the same time all the countries where such person is registered for permanent or any other residence. In case of a legal entity, this is the country where it has its registered office and at the same time, all the countries where such entity has its branch or establishment.

VII. Verification of client and account

For the purpose of compliance with the AML act, the Provider requires identity verification of a Client in the case of any transaction exceeding €1,000.00.

The Client will provide identification by using the registration form, where he shall complete the required registration data according to the law. At the same time, the Client shall upload a copy of an identification card to the application. The Client shall also identify the bank account, held on his behalf at any bank institution within the EU, and even a copy of a bank statement.

All the financial performance must be then executed only on the bank account specified by the Client. In the event of an account change, the Client shall send a bank statement again, identifying himself.

VIII. Order receipt and acceptance

After the receipt of any order from the Client, the Provider shall confirm such order receipt. Such confirmation of an order receipt does not represent any obligation of the Provider to execute such order. Confirmation of an order receipt means only that such order was received and is processed by the Provider.

After the receipt of an order, the Provider shall perform a review of compliance of such order with the law, in particular with regard to the AML act and verify the compliance of a bank account, where such order shall be executed, and of a bank account set by the client during registration.
Furthermore, the Provider shall perform a check of the above-mentioned funds in the case of an order for buying cryptocurrencies with regard to point VII. of the T&C.

In the event the Provider assesses an instruction in terms of AML and T&C and does not apply his right to refuse such order to be executed, he shall send a notification on order acceptance to the Client as well as on the exchange rate under which the order shall be executed, on the designation of the bank account, which the order will be executed on, and on the deadline for settlement.

IX. Client orders

The Provider reserves the right to refuse execution of a Client order.
Orders received by the Provider shall be executed at the exchange rate, stated by the Provider at the time of order receipt.

The Provider shall execute a received order during working hours, running from 9:00 a.m. to 5:00 p.m. during business days and within a period of 4 hours from the receipt of such order within such working hours.

X. Execution of orders and funds for orders

Cryptocurrency buying:

If the Client requests to buy cryptocurrency for an exchange rate and from the offer of the Provider, he shall send an amount, allowing him to execute purchases according to the published exchange rate, to the bank account specified by the Provider in an attachment to these T&C.

In the event that the Client transfers a lower amount than the amount allowed to execute the purchase, such order will not be executed. The Client shall be informed about the inability to execute such order. The Client may then modify the order in such a way that the transferred amount meets the requirement to execute the purchase. In the event that the order is not modified within 8 working hours from the receipt of the amount to the account of the Provider, such amount will be credited back to the Client’s account from which it was transferred.

In the event that the Client transfers a higher amount than the amount necessary for the execution of such order and the order is executed, the residual amount shall be transferred back to the Client into his registration account, immediately after the execution of the order.

Sale of cryptocurrencies:

In the event that the Client requests the cryptocurrency to be sold, a sale shall be executed immediately after the order receipt and under an exchange rate valid at the time the order is received.

The condition for such order receipt is to credit the required amount of the cryptocurrency to the wallet of the Provider. In the event the order is not accepted for whatever reasons, the required amount of cryptocurrency shall be sent by the Provider back to the Client’s wallet.

In the event of order execution, the Client shall receive an equivalent of the cryptocurrency value for the exchange rate valid at the moment of order receipt on the next bank business day.

XI. Reservation of right not to execute order

The Provider reserves the right to refuse execution of any received order. The Client shall be informed thereabout immediately after the order receipt.
In the event of a refused execution of a received order, the Client has no claim for damages or any other claims against the Provider.

XII. Time of agreement conclusion

Unless agreed or stated otherwise, it shall apply that the agreement between the Client and the Provider on the purchase or sale of cryptocurrency is concluded only at the moment of an order receipt by the Provider.

By the time the order is received by the Provider, all the received orders from the Client are of only a contractual proposal nature.

In the event the Client sends multiple orders by the time of acceptance of any thereof, it shall apply that the following order cancels the previous one. At one moment, the Client may have only one received order for the sale of cryptocurrencies and only one buy order for cryptocurrencies, unless agreed otherwise individually between the parties.

XIII. Impossibility to withdraw from order and the withdrawal from agreement

The Provider warns the Client that in the event of purchase or sale of virtual currencies, it’s not possible to withdraw from the entered request to buy or sell as the purchase or sale of virtual currencies meets the conditions set in sec. 1837b) of act No. 89/2012 Coll. It’s also impossible to withdraw from the entered order for FIAT currencies exchange (sec. 1847a) of act No. 89/2012 Coll.).

XIV. Exclusion of activities

For the avoidance of doubt, the Provider expressly states the following:

  • The Provider does not provide services based on the storage and trading with cryptocurrencies on the basis of software wallets or repositories
  • Its activity is not subject to supervision from the Czech National Bank
  • Its activity is not a subject to the EET

XV. Final provisions

In the event of the failure of internet services, the Provider hereby provides his address for the purpose of liabilities settlement:

Solidní finance, a.s. Company ID: 29235871
Registered seat at: Slavíčkova 1a, Brno, ZIP code: 63800

These terms and conditions enter into force and effect on May 1, 2018

In Brno, on May 1, 2018

Solidní finance, a.s.