Hi! Welcome to Artfi, a premier digital art ecosystem operating on the Polygon blockchain operated by and proprietary to Artfi Global LLC, a Limited Liability Company (doing business as : Artfi Platform or Company) having registration credentials as 1923LLC2022 in Saint Vincent and the Grenadines. You agree and understand that by signing up to Artfi and opening an account, you are agreeing to enter into this user agreement (the “User Agreement”) by and between you and Artfi Company, and be legally bound by its terms and conditions, so please read them carefully. Please also note that there may be specific terms or conditions applicable to you as a user in a given jurisdiction, as detailed herein. If any term or condition of this User Agreement is unacceptable to you, please do not visit, access, or use Artfi. Use of the words “we,” “us,” or “our” in this User Agreement refers to Artfi Company, and any or all of its a affiliates.
PLEASE READ THESE TERMS OF SERVICE CAREFULLY.
BY CLICKING THE "CREATE ACCOUNT" BUTTON OR BY ACCESSING OR USING THE SERVICES, YOU AGREE TO BE LEGALLY BOUND BY THESE TERMS OF SERVICE AND ALL TERMS INCORPORATED BY REFERENCE. ARTFI EXPRESSLY DISCLAIMS ANY AND ALL RESPONSIBILITY FOR ANY DIRECT OR CONSEQUENTIAL LOSS OR DAMAGE OF ANY KIND WHATSOEVER ARISING DIRECTLY OR INDIRECTLY FROM: I) RELYING ON ANY INFORMATION CONTAINED IN THIS DOCUMENT; II) ANY ERROR, OMISSION OR INACCURACY IN ANY SUCH INFORMATION; III) ANY ACTION RESULTING THEREFROM; IV) USAGE OR ACQUISITION OF PRODUCTS AVAILABLE THROUGH THE WEBSITE. FRACTION RISK NOTICE. THE PRICES AND VALUE OF FRACTIONS (DEFINED BELOW) MAY FLUCTUATE SIGNIFICANTLY. YOU ACKNOWLEDGE THAT YOU FULLY UNDERSTAND THE RISKS ASSOCIATED WITH PURCHASING AND SELLING FRACTIONS
Master Summary of Terms of Service
This summary of our Terms of Service offers you an overview of the key terms that apply to your use of our website, transactions and other services. While we hope this summary section is helpful, you should read the complete Terms of Service below since they provide important information about how our services work. Please note that we refer to our online service where you can execute transactions and access our services as "Artfi".
1. INTRODUCTION
In order to use Artfi Platform, users shall be informed of what Artfi is providing and how does it work. Following shall be read and understood by the user before using any services on the Artfi platform.
What is a Fraction?
Non-fungible tokens or fractions are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.
The distinct construction of each fraction has the potential for several use cases. For example, they are an ideal vehicle to digitally represent physical assets like real estate and artwork. Because they are based on blockchains, fractions can also be used to remove intermediaries and connect artists with audiences or for identity management. Fractions can remove intermediaries, simplify transactions, and create new markets.
Fraction Marketplace: Fraction marketplaces play a crucial role in bridging the gap between buyers and sellers. In some cases, Fraction marketplaces could also offer additional tools for creating Fractions within a few minutes.
The specialized marketplaces allow artists to put up their fraction artworks for sale. Buyers could browse the marketplace for fractions and purchase the item of their choice through bidding.
Extract from the White paper:
Artfi is a financial and art technology company that aims to democratize investing in high-value works of art that have previously been available only to ultra-wealthy collectors. By harnessing the power of fractions and blockchain technology, Artfi's mission is to make it possible for retail investors to collectively own the world's most sought-after works of art.
Artfi is run by a renowned team of experienced art and technology professionals with the bold vision of ushering in a new paradigm for collecting, owning and investing in art.
Problem Statement
Buyer/Collector
High barriers to entry
Large upfront investment required
Long holding period
Seller/Artist
No partial selling opportunity
No royalties
Lack of global exposure
Artfi Solution
Buyer/Collector
Access to blue chip artists
Low minimum investment
Secondary market liquidity
Seller/Artist
Partial selling opportunity
Royalties earned on every transaction
Massive global exposure
Artfi Business model
The company accepts high-value artworks on consignment from sellers who historically have only had the option of consigning their artworks with an auction house or conducting a private sale. It then offers the artwork for sale to the public at a pre-determined price in the form of 10,000 fractions. These fractions represent ownership in the artwork on consignment. Once the fractions have sold out, Artfi gives the proceeds to the consignor and takes a commission percentage, which is below the average of 20% commission usually charged by the legacy auction houses.
Since the Artfi transaction fractionalizes the artwork into 10,000 fractions, it provides consignors with the option to retain a portion of their artwork and only sell their desired percentage. Artfi will hold the physical artwork on behalf of the fraction holders in an art gallery in Dubai where it will be exhibited to the public. Eventually Artfi may sell the artwork in the future and give the proceeds back to the fraction holders, at which point in time there will be another commission charged on the transaction.
What is Artfi?
Artfi serves as an investment platform facilitating the acquisition and trading of fractions that represent investments in renowned blue-chip artworks created by world-famous artists. Artfi's overarching goal is to democratize the vast $1.5 trillion fine art and collectibles market. Through Artfi, the aim is to enable nearly anyone to reap the financial rewards of investing in million-dollar art pieces while providing access to an alternative asset class for enhancing portfolio diversification.
Artfi acts as a conduit bridging the divide between the traditional and the contemporary, the physical and the digital realms, connecting the world of Blue Chip Fine Art with the ever-evolving NFT Ecosystem.
What Artfi Offers?
Buyer
Access to masterpieces
Portfolio diversification
Exclusive membership benefits
Liquidity on secondary market
Verification of authenticity and Provenance
Seller
Partial selling opportunity
Much lower commission fees
Perpetual fraction royalties
Access to mass investment capital
Effective preservation program
Eligibility and Acceptable Use
You must meet certain eligibility criteria to use Artfi. For instance, you must be an adult and there are certain locations from which you may not be able to use some or all of Artfi. Additionally, there are certain things you cannot do when using Artfi , such as engage in illegal activities, lie, or do anything that would cause damage to our services or systems. Please see the acceptable use section for more details. By signing up to Artfi and opening an account, you represent and affirm that you are at least 18 years old as an individual, have the legal capacity to enter into this User Agreement by and between you and Artfi Company, and agree to be legally bound by the terms and conditions of this User Agreement in their entirety.
Transaction Risks and Disclaimers
Engaging in any Digital Asset trade can be financially risky, and there can be higher financial risks if you engage in any such transactions, use any other sophisticated trading options, or trade in digital assets that are subject to volatile market price movements. Please don't use Artfi if you do not understand these risks and enter into trades only when you understand the trading option you are using, the characteristics of the digital asset you intend to trade, and the potential financial risk of loss trading them entails.
Other Important Legal Terms
There are important legal terms provided below in the complete Terms of Service, including your indemnification responsibilities, our limitation of liability and warranty disclaimers, and your agreement to arbitrate most disputes. Please take the time to read these terms carefully. You can always contact us through support if you have any questions at Contact us page on https://artfi.world/.
2. Artfi Service
2.1 Platform. The "Artfi Platform" provides a platform for fine art connoisseurs and investors using the blockchain technology and fractions. Artfi is built on Polygon. For more information about the Artfi Platform, please read our Whitepaper.
2.2 Use of Services. You and any other users that have registered for an Account (defined below) are each a “User” whose use of the Service may include: (a) accessing, downloading or using any component of the Service; (b) buying or receiving any fraction via any component of the Service; (c) using, sending or receiving fractions, sending messages to or otherwise transacting with any component of the Service; and (d) using, transferring, voting, buying, selling or receiving Artfi’s native governance token, $ARTFI.
2.3 Key Definitions Capitalized terms not otherwise defined in these Terms will have the following meaning:
2.3.1 "External Account" means any Financial Account or Digital Asset Account: (i) from which you may load Funds (fiat (if applicable) or non fiat) into your Artfi Account, and (ii) to which you may transfer Funds from your Artfi Account if allowed.
2.3.2 "Financial Account"means any financial account of which you are the beneficial owner that is maintained by a third party outside of the Services, including, but not limited to third-party payment service accounts or accounts maintained by third party financial institutions.
2.3.3 "Funds"means Digital Asset and/or Legal Tender.
2.3.4 "Legal Tender" means any national currency, such as INR or USD, that may be used, in connection with a purchase or sale of fractions or $ARTFI token on the Artfi platform.
2.3.5 "Artfi Account"means a user account accessible via the Services where Funds may be stored by Artfi on behalf of a user on its platform under the dashboard of the user.
2.3.6 "Digital Asset" means a digital representation of value (also referred to as “cryptocurrency,” “virtual currency,” “digital currency,” “crypto token,” “crypto asset,” or “digital commodity”), such as fractions, bitcoin or any other digital currency which is based on the cryptographic protocol of a computer network that may be (i) centralized or decentralized, (ii) closed or open-source, and (iii) used as a medium of exchange and/or store of value.
2.3.7 "Digital Asset Account"means any Digital Asset address or account owned, controlled or operated by you that is maintained outside of the Services, and is not owned, controlled or operated by Artfi.
2.3.8 "KYC/AML" – a set of activities as a result of which information about a particular User is obtained. These activities are performed in order to determine the scope of financial security measures appropriate for a given business relationship or transaction and to assess the risk related to counteracting money laundering and terrorist financing, taking into account specific types of risk. This set is also regularly updated by the Service Provider to the extent required by law.
2.3.9 "Fraction"means a unique non-fungible token, implemented on the Artfi Platform using blockchain which is offered for auction, sale, or trade on the Artfi Platform.
3. Eligibility
Artfi may not make the Services available in all markets and jurisdictions, and may restrict or prohibit use of the Services from certain foreign jurisdictions ("Restricted Locations"). If you are registering to use the Services on behalf of a legal entity, you 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.
You further represent and warrant that you: (a) are of legal age to form a binding contract (at least 18 years old); (b) have not previously been suspended or removed from using our Services; (c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party; (d) are not subject to any financial sanctions, embargoes or other restrictive measures imposed by the United Nations and US sanctioned countries, the European Union (EU), any EU country, the UK Treasury or the US Office of Foreign Assets Control (OFAC), or any governmental authority in any jurisdiction in which the Artfi Platform is available (collectively, “Sanctions”); (e) are not identified as a "Specially Designated National;" (f) are not placed on the Interpo's Denied Persons List; and (g) will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.
Artfi may condition your access or continued access to certain Services (or features of those Services), such as by imposing eligibility requirements. Artfi will keep you informed of these on its website. Artfi may require, on an ongoing basis, that you demonstrate to us that you continue to meet these requirements. Artfi’s decisions with respect to eligibility are final.
Restricted List Countries - Democratic People's Republic of Korea, Iran, Myanmar, Barbados, Bulgaria, Burkina Faso, Cameroon, Croatia, Democratic Republic of Congo, Gibraltar, Haiti, Jamaica, Mali, Mozambique, Nigeria, Philippines, Senegal, South Africa, South Sudan, Syria, Tanzania, Turkiye, Uganda, United States (US) and US sanctioned countries, Vietnam, Yemen.
4. Artfi Account limitations per person
4.1 Number of Artfi Accounts. Artfi may, in its sole discretion, limit the number of Artfi Accounts that you may hold, maintain or acquire.
4.2 Artfi Account information and security In order to engage in any trades via the Services, you must create an Artfi Account and provide any requested information. When you create an Artfi Account, you agree to: (a) create a strong password that you do not use for any other website or online service; (b) provide accurate and truthful information; (c) maintain and promptly update your Artfi Account information; (d) maintain the security of your Artfi Account by protecting your password and restricting access to your Artfi Account; (e) promptly notify us if you discover or otherwise suspect any security breaches related to your Artfi Account; and (f) take responsibility for all activities that occur under your Artfi Account and accept all risks of any authorized or unauthorized access to your Artfi Account, to the maximum extent permitted by law.
4.3 Nominee addition process. The process for adding a nominee is as follows:
4.3.1 During the initial account setup, you will be prompted to provide nominee information.
4.3.2 Nominee details must be added at the time of account creation.
4.3.3 An email notification will be sent to the nominee for the purpose of verifying their identity.
4.3.4 After successful email verification, the nominee will be officially added as a nominee.
Note: The nominee will be required to complete Know Your Customer (KYC) verification only when making a claim.
5. Privacy Notice
Please refer to our Privacy Notice for information about how we collect, use and share your information.
6. User Content
6.1 Content Responsibility: As a user of the Artfi platform, you are solely responsible for all the content you post on our platform. This includes any picture, details or information of your digital art and any other creative works you share (User Content). You maintain the copyright and other proprietary rights to your User Content, except for any rights you explicitly choose to waive. By posting User Content, you represent and warrant that you have the necessary rights to do so and that it won't violate the rights of any third party.
6.2 License to Artfi: When you post content on the Artfi platform, you grant us a worldwide, non-exclusive, royalty-free, sublicensable, and transferable license to use, reproduce, distribute, create derivative works from, and display this content. This license is granted to facilitate the functioning of the Artfi platform and promote it through various media channels. These rights apply directly to our audience, meaning external services will not be held separately liable to you or any third party for User Content posted or used via the Artfi platform.
6.3 User Content Disclaimer: Artfi is not obligated to edit or control User Content posted by you or other users, and we will not be responsible or liable for User Content. However, Artfi reserves the right, at any time and without prior notice, to screen, remove, edit, or block any User Content at our sole discretion if it violates our terms. When using the Artfi platform, you acknowledge that you may come across User Content from various sources, and some of it may be inaccurate, offensive, indecent, or objectionable. Artfi makes no representations or warranties regarding the quality, origin, or ownership of any content found on the platform. Artfi will not be liable for errors, misrepresentations, omissions in the content, or its availability. You agree to waive any legal or equitable rights or remedies against Artfi concerning User Content. If we receive notice from a user or content owner that User Content allegedly violates our terms, we may investigate and decide, at our sole discretion, whether to remove the content without prior notice. Artfi does not permit infringing activities on its platform.
6.4 . Content Monitoring: Artfi does not have an obligation to monitor (a) User Content, (b) content provided by third parties, or (c) how users use the platform. However, you acknowledge that Artfi reserves the right to periodically monitor all information and content, including User Content, transmitted or received through the platform for operational and other purposes. Even during monitoring, Artfi assumes no responsibility or liability for such content or any losses or damages resulting from its use. Information may be examined, recorded, copied, and used in accordance with our Privacy Policy during monitoring.
7. Onboarding of Digital Art
Artfi follows this procedure for onboarding and converting art into a digital format, specifically transforming it into fractions.
7.1 Sourcing of Art. We exclusively acquire artwork with the utmost value and a thoroughly verified provenance. Artfi's team of seasoned art experts evaluates and approves pieces that demonstrate the greatest potential for optimizing investor returns.
7.2 Determining the value of the art. We receive the artwork on consignment at its fair market value. The consignor has the choice to either sell the entire canvas or only a portion of it. In cases where the fair market value of the artwork is unavailable, Artfi will arrange for a third-party valuation which will be notified to the community.
7.3 Fractionalization. We divide the artwork into limited edition fractions, which are made available for purchase by the general public. Users with a Web3 wallet who meet Artfi's KYC requirements can acquire these fractions through the public sale. Subsequently, these fractions can be openly traded on the Artfi Marketplace or other secondary fraction marketplaces.
7.4 . Custody of Physical Art. The physical artwork is displayed at the Artfi Museum (third party public trust) in Dubai, where it will be safeguarded by a third-party custodian, the Artfi Foundation, acting on behalf of the Artfi community. Artfi fractions serve as exclusive passes granting access to the Artfi Museum and its exclusive events.
8. Purchase, Sale and Trade of digital artwork in the form of fractions and physical artwork.
8.1 Fraction Transactions. The Artfi Platform allows you to sell, purchase, collect and showcase fractions. Such transactions will be governed by, and conducted in accordance with, the individual Sales Terms applicable to each such transaction.
8.2 Purchase of Fractions. Users have the option to acquire the complete digital artwork or fractional portions of it in the form of fractions through the Artfi Platform. The pricing of each fraction is established based on the fair market value of underlying physical artwork associated with the fraction.
8.3 Sale of Fractions. Artfi fraction holders have two main avenues to potentially benefit from their involvement in blue-chip fine art: 8.3.1 They can independently choose to sell the fractions on the secondary market; and 8.3.2 They can opt to wait for Artfi to sell the painting and exchange their fractions for the resulting proceeds by burning it.
8.4 Sale of Physical Artwork. 8.4.1 When Artfi sells paintings, the sale price is established through DAO voting, with the community collectively determining the selling price. After the Artfi platform successfully completes the sale, the painting is released, and the resulting profits are distributed among the community members based on their individual ownership of the painting, achieved by burning their fractions. 8.4.2 The value and floor price of fractions being traded on the secondary market are not inherently linked to the worth of the underlying asset. The assessment of the underlying asset's value will consistently be conducted by an independent art valuation company. 8.4.3 When Artfi chooses to sell the artwork and distribute the proceeds, the valuation and sale price of the physical artwork will not be influenced by the current secondary market fraction prices (there is no direct correlation). Instead, it will solely rely on the market price determined by the current valuation and approval through a DAO vote involving the community. 8.4.4 In cases where Artfi Global LLC secures a higher price for the underlying asset, they can either personally vouch for the offer or opt for a DAO voting process involving co-owners to obtain approval based on the voting outcome. If the community decides to accept the offer, Artfi can then seek approval from the DAO to retrieve the painting from the custodian (Artfi Foundation) and proceed with selling it, subsequently sharing the proceeds. 8.4.5 Artfi does not retain physical possession of the painting. Once the artwork is sold to a new owner, the bill of rights is promptly transferred to the Artfi Foundation. The foundation's role is to safeguard the artwork and arrange for its display in a museum on behalf of these newly designated owners.
9. General Obligations
General Obligations applies to: i. all transactions completed via the Services, ii. any transaction in which you load Funds into your Artfi Account from your External Account.
9.1 Conditions and Restrictions. We may, at any time and in our sole discretion, refuse any trade submitted via the Services, impose limits on the trade amount permitted via the Services or impose any other conditions or restrictions upon your use of the Services for funding your Artfi Account or for trading without prior notice to safeguard the interest of the platform and for fair transaction policies.
9.2 Taxes. It is your complete responsibility to determine what, if any, taxes apply to the transactions you complete via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that Artfi is not responsible for determining whether taxes apply to your transactions or for collecting, reporting, withholding or remitting any taxes arising from any transactions.
9.3 Prohibited Activities.You may not use the Site for any illegal or unauthorized purpose, or in any way that violates these Terms or the rights of any third party. You may not use the Site to send spam, phish, or engage in any other harassing or fraudulent activity. You may not share sensitive personal information, such as social security numbers or financial account numbers, on the Site.
10. Risk Disclosure
10.1 Assumption of Risks.
You understand and agree that your access and use of the Platform is subject to certain risks including without limitation:
Price and liquidity of fractions are extremely volatile and may be subject to fluctuations;
Unintended and/or adverse effects due to technical upgrades or forking of the public blockchain on which the digital assets are minted or hosted;
Legislative and regulatory changes or actions that may adversely affect the use, transfer, and value of the digital assets;
Digital asset are not legal tender and are not backed by any government;
Transactions involving digital assets may be irreversible, and losses due to fraudulent or accidental transactions may not be recoverable;
The value of fractions on Artfi platform may be derived from the continued willingness of market participants to exchange fiat currency or digital assets for the fractions on Artfi platform, and therefore the value of fractions is subject to the potential for permanent or total loss of value should the market for digital assets disappear;
You understand and agree that you are solely responsible for determining the nature, potential value, suitability and appropriateness of these risks for yourself. We do not give any advice or recommendations regarding the digital assets. You understand and agree that you access and use the Platform at your own risk. You understand and agree that we will not be responsible for any communication failures, disruptions, errors, or distortions you may experience when using the NFTs or the Platform.
10.2. Internet transmission risks. You acknowledge that there are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that Artfi shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when trading via the Services, however caused.
ALL OF THE POINTS NOTED ABOVE APPLY TO ALL DIGITAL ASSET TRANSACTIONS. THIS BRIEF STATEMENT CANNOT, OF COURSE, DISCLOSE ALL THE RISKS AND OTHER ASPECTS ASSOCIATED WITH THESE TRANSACTIONS.
11. Payment terms; Price
11.1 Payment Terms. Buying, selling, or transferring fractions may be subject to fees, commissions, royalties and other charges including: (1) standard marketplace service fees associated with transactions on Artfi-Supported Blockchains between Users (“Marketplace Fees”); (2) commissions fee charged by Artfi from the consignor/owner of the art; and (3) “Gas Fees” paid to Artfi-Supported Blockchain miners in cryptocurrency through your Wallet as consideration for mining your transactions (collectively “Fees”). Artfi may change the Marketplace Fees for any feature of the Service, including additional fees or charges, with or without advance notice to you. Before you pay any Fees, you will have an opportunity to review and accept the Fees that you will be charged. All Fees are in cryptocurrency and are non-refundable except as required by applicable law.
11.2 Price Artfi reserves the right to determine pricing for the Service. Artfi will make reasonable efforts to keep pricing information published on the website up to date. We encourage you to check our website periodically for current pricing information. Artfi, at its sole discretion, may make promotional offers with different features and different pricing to any of Artfi’s customers. These promotional offers, unless made to you, will not apply to your offer or these Terms.
12. Electronic Notices
12.1 Consent to Electronic Delivery. You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, Communications) that Artfi provides in connection with your Artfi Account and/or use of the Artfi Services. You agree that Artfi may provide these Communications to you by posting them via the Services, by emailing them to you at the email address you provide, and/or by sending an SMS or text message to a mobile phone number that you provide. Your carrier's normal messaging, data and other rates and fees may apply to any mobile Communications. You should maintain copies of electronic Communications by printing a paper copy or saving an electronic copy. You may also contact us through email support to request additional electronic copies of Communications or, for a fee, paper copies of Communications (as described below).
12.2 Hardware and Software Requirements. In order to access and retain electronic Communications, you will need a computer with an Internet connection that has a current web browser with cookies enabled and 128-bit encryption. You will also need to have a valid email address on file with Artfi and have sufficient storage space to save past Communications or an installed printer to print them.
12.3 Withdrawal of Consent. You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support. If you decline or withdraw consent to receive electronic Communications, Artfi may suspend or terminate your use of the Services. Unsubscribe requests submitted on general email may take up to 10 business days to process.
12.4 Requesting Paper Copies. If, after you consent to receive Communications electronically, you would like a paper copy of a Communication we previously sent you, you may request a copy within 30 days after the date we provided the Communication to you by contacting support. In order for us to send paper copies to you, you must have a current street address on file with Artfi. Please note that Artfi operates exclusively online and it is very burdensome for us to produce paper copies of Communications. Therefore, if you request paper copies, you understand and agree that Artfi may charge you a processing fee, in the amount described in the Fee Schedule, for each page of Communication requested.
12.5 Updating Contact Information. It is your responsibility to keep your email address and/or mobile phone number on file with Artfi up to date so that Artfi can communicate with you electronically. You understand and agree that if Artfi sends you an electronic Communication but you do not receive it because your email address or mobile phone number on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Artfi will be deemed to have provided the Communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add Artfi to your email address book so that you will be able to receive the Communications we send to you. You can update your email address, mobile phone number or street address at any time by logging into your Artfi Account or by sending such information to support. If your email address or mobile phone number becomes invalid such that electronic Communications sent to you by Artfi are returned, Artfi may deem your account to be inactive, and you may not be able to complete any transaction via our Services until we receive a valid, working email address or mobile phone number from you.
13. Acceptable Use
When accessing or using the Services, you agree that you will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Services. Without limiting the generality of the foregoing, you agree that you will not:
13.1 Use our Services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;
13.2 Use our Services to pay for, support or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or other illegal activities;
13.3 Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access our Services or to extract data;
13.4 Use or attempt to use another user's account without authorization;
13.5 Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
13.6 Develop any third-party applications that interact with our Services without our prior written consent;
13.7 Provide false, inaccurate, or misleading information; and
13.8 Encourage or induce any third party to engage in any of the activities prohibited under this Section.
14. Feedback
We will own exclusive rights, including all intellectual property rights, to any feedback, suggestions, ideas or other information or materials regarding Artfi or our Services that you provide, whether by email, posting through our Services or otherwise (Feedback). Any Feedback you submit is non-confidential and shall become the sole property of Artfi. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to the Feedback (including any copyrights or moral rights). Do not send us Feedback if you expect to be paid or want to continue to own or claim rights in them; your idea might be great, but we may have already had the same or a similar idea and we do not want disputes. We also have the right to disclose your identity to any third party who is claiming that any content posted by you constitutes a violation of their intellectual property rights, or of their right to privacy. We have the right to remove any posting you make on our website if, in our opinion, your post does not comply with the content standards set out in this section.
15. Copyrights and Other Intellectual Property Rights
Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on our website or provided in connection with the Services, including, without limitation, the Artfi or Artfi logo and all designs, text, graphics, pictures, information, data, software, sound files, other files and the selection and arrangement thereof (collectively, Artfi Materials) are the proprietary property of Artfi or our licensors or suppliers and are protected by Saint Vincent and the Grenadines and international copyright laws and other intellectual property rights laws.
We hereby grant you a limited, nonexclusive and non-sublicensable license to access and use the Artfi Materials for your personal or internal business use. Such license is subject to these Terms and does not permit (a) any resale of the Artfi Materials; (b) the distribution, public performance or public display of any Artfi Materials; (c) modifying or otherwise making any derivative uses of the Artfi Materials, or any portion thereof; or (d) any use of the Artfi Materials other than for their intended purposes. The license granted under this Section will automatically terminate if we suspend or terminate your access to the Services.
16. Ownership; Proprietary Rights.
The Service is owned and operated by Artfi. The visual interfaces, graphics, design, compilation, information, data, computer code (including source code or object code), products, software, services, and all other elements of the Service (“Materials”) provided by Artfi are protected by intellectual property and other laws. All Materials included in the Service are the property of Artfi or its third-party licensors. Except as expressly authorized by Artfi, you may not make use of the Materials. “Artfi” and its logos are trademarks of Artfi. All other trademarks appearing in the Service are the property of their respective owners. Artfi reserves all rights to the Materials not granted expressly in these Terms.
17. Third-Party Content
In using our Services, you may view content provided by third parties, including links to web pages of such parties, including but not limited to Facebook and Twitter links (Third-Party Content). We do not control, endorse or adopt any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.
18. Suspension; Termination
In the event of any Force Majeure Event, breach of these Terms, or any other event that would make provision of the Services commercially unreasonable for Artfi, we may, in our discretion and without liability to you, with or without prior notice, suspend your access to all or a portion of our Services. We may terminate your access to the Services in our sole discretion, immediately and without prior notice, and delete or deactivate your Artfi Account and all related information and files in such account without liability to you, including, for instance, in the event that you breach any term of these Terms. In the event of termination, Artfi will attempt to return any Funds stored in your Artfi Account not otherwise owed to Artfi, unless Artfi believes you have committed fraud, negligence or other misconduct.
19. Discontinuance of Services
We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services.
20. Disclaimer of Warranties
EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY US, OUR SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN. YOU ACKNOWLEDGE THAT INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES MAY BECOME IRRETRIEVABLY LOST OR CORRUPTED OR TEMPORARILY UNAVAILABLE DUE TO A VARIETY OF CAUSES, INCLUDING SOFTWARE FAILURES, PROTOCOL CHANGES BY THIRD PARTY PROVIDERS, INTERNET OUTAGES, FORCE MAJEURE EVENT OR OTHER DISASTERS INCLUDING THIRD PARTY DDOS ATTACKS, SCHEDULED OR UNSCHEDULED MAINTENANCE, OR OTHER CAUSES EITHER WITHIN OR OUTSIDE OUR CONTROL. YOU ARE SOLELY RESPONSIBLE FOR BACKING UP AND MAINTAINING DUPLICATE COPIES OF ANY INFORMATION YOU STORE OR TRANSFER THROUGH OUR SERVICES.
Some jurisdictions do not allow the disclaimer of implied terms in contracts with consumers, so some or all of the disclaimers in this section may not apply to you.
21. Limitation of Liability
(a) EXCEPT AS OTHERWISE REQUIRED BY LAW, IN NO EVENT SHALL ARTFI, OUR DIRECTORS, MEMBERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR SERVICES OR THE ARTFI MATERIALS, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM ARTFI, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO ARTFI’S RECORDS, PROGRAMS OR SERVICES.
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the limitations of this section may not apply to you.
(b) TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF ARTFI (INCLUDING OUR DIRECTORS, MEMBERS, EMPLOYEES AND AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, ARTFI OR TO THESE TERMS EXCEED THE FEES PAID BY YOU TO ARTFI DURING THE 12 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.
22. Indemnity
You agree to defend, indemnify and hold harmless Artfi (and each of our officers, directors, members, employees, agents and affiliates) from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to (a) your use of, or conduct in connection with, our Services; (b) any Feedback you provide; (c) your violation of these Terms; or (d) your violation of any rights of any other person or entity. If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to settle it.
23. Applicable Law; Arbitration
PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH US AND IT LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF. You and Artfi agree to arbitrate any dispute arising from these Terms or your use of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. ARBITRATION PREVENTS YOU FROM SUING IN COURT. You and Artfi agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Artfi shall be sent to support@artfi.world. You and Artfi further agree: (a) to attempt informal resolution prior to any demand for arbitration; (b) that any arbitration will occur in Saint Vincent and the Grenadines; (c) that arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of Arbitration Act of Saint Vincent and the Grenadines; and (d) that the courts in Saint Vincent and the Grenadines have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws of Saint Vincent and the Grenadines, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction. Whether the dispute is heard in arbitration or in court, you and Artfi will not commence a class action, class arbitration or representative action or proceeding.
24. Miscellaneous
24.1 Entire Agreement; Order of Precedence.These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services. These Terms do not alter the terms or conditions of any other electronic or written agreement you may have with Artfi for the Services or for any other Artfi product or service or otherwise. In the event of any conflict between these Terms and any other agreement you may have with Artfi, the terms of that other agreement will control only if these Terms are specifically identified and declared to be overridden by such other agreement.
24.2 Amendment. We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion, by posting the amended Terms via the applicable Artfi websites and mobile applications or by communicating these changes through any written or other contact method we have established with you and updating the Last Updated date at the top of these Terms. The amended Terms will be effective immediately thereafter and your use of the Services following the date on which such amended Terms are published will constitute consent to such amendments.
24.3 Waiver. Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.
24.4 Severability. The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect
24.5 Force Majeure Events. Artfi shall not be liable for (1) any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information; (2) any loss or damage arising from any event beyond Artfi's reasonable control, including but not limited to Rood, extraordinary weather conditions, Covid19, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction or any other cause beyond Artfi's reasonable control (each, a Force Majeure Event).
24.6 Assignment. You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from Artfi, including by operation of law or in connection with any change of control. Artfi may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.
24.7 Headings. Headings of sections are for convenience only and shall not be used to limit or construe such sections
24.8 Survival. Clauses- (Eligibility), (Artfi Account), (Risk Disclosure), (Fees), (Unclaimed Property), (Feedback), (Copyrights), (Trademarks), (Third-Party Content), (Disclaimer of Warranties), (Limitation of Liability); (Indemnity), (Applicable Law; Arbitration) and this clause (Miscellaneous) shall survive any termination or expiration of these Terms.
25. Jurisdiction-specific Legal Disclosures
Artfi maintains licenses and registrations in certain jurisdictions to provide you our Services. These licenses or registrations may impact our provision and your use of our services depending on where you live or are domiciled. Information regarding certain of Artfi’s licenses and registrations, or lack thereof, and corresponding disclosures can be found on the Artfi website pages, which is incorporated into these Terms by reference. By creating an Artfi account, you acknowledge that you have read, understand and agree to those disclosures that are applicable to you.
Addendum
ADDENDUM: STANDARD THIRD PARTY TERMS
Electronic Fund Transfers and Account Balances. ("EFTs") By creating an Artfi Account and initiating deposits or withdrawals (i.e., EFTs), you agree to the terms of service and privacy policy of our third party providers, if any, whose terms may be incorporated herein by reference. Terms not defined in this section shall be defined in third party providers, if any, own’s website on redirect or upon using of third party service.
Our Company may partner with third party or other service providers or a financial services software company, to offer you EFTs. When you create an Artfi Account, you may also be prompted to sign up for such a User Account if any. You authorize our Company to share your identity and banking information with such third parties to open and support your Artfi Account as further detailed in our Privacy Policy and third party’s Privacy Policy. It is your responsibility to make sure the data you provide us is accurate and complete. Additionally, you are responsible for complying with such third party terms when using your User Account. IT IS YOUR RESPONSIBILITY TO READ AND UNDERSTAND THE THIRD PARTY TERMS, AS IT CONTAINS TERMS AND CONDITIONS RELATING TO YOUR ETF USER ACCOUNT, INCLUDING BUT NOT LIMITED TO YOUR RIGHTS, LIMITATIONS, REVERSAL AND OTHER LIABILITIES, LIMITATION OF LIABILITY AND BINDING ARBITRATION PROVISIONS.
ADDENDUM: Funding Methods
1.1 "Verified External Account"
Means any account other than your Artfi Account(s) of which you are the beneficial owner. This includes, but is not limited to, payment service accounts, deposit or checking accounts maintained by financial institutions, or Digital Asset Accounts, of which you are the owner. Verified External Accounts may be used to make deposits into your Artfi Account, or to withdraw Funds from your Artfi Account. Periodically, we may require you to verify that your account complies with any and all Artfi AML/KYC requirements.
1.2 General
Artfi may permit you to fund your Artfi Account using other Digital Assets. Your funding of your Artfi Account confirms that you have read, understand, and accept all of the terms in this Addendum. This Addendum is subject to the terms and conditions, as they may be updated from time to time, set forth in the Terms of Service.
1.3 Funding Method.
You may fund your Artfi Account from a Verified External Account. Your use of the funding method must comply with any instructions presented to you on the Artfi platform. Your linked account will be debited when you initiate payment. Your Artfi Account may not, however, reflect credit immediately after you initiate payment.
Transfers may be delayed. A contracted third party processor or Artfi may reject the transfer. Artfi is not liable for any delayed or rejected transfer. Funding by Digital Asset is subject to all terms and conditions set forth by your financial institution or holding Wallet issuer, and you may incur fees that are charged by your financial institution or holding Wallet issuer in conjunction with such funding.
DISCLAIMER
The information and material contained herein are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary to Artfi, its parent, Licensor and/or its affiliates and is for informational purposes and for informed investors only. The information contained in this website is not intended and should not be used or construed as an offer to sell, or a solicitation of any offer to buy, fractions in any jurisdiction. The information in this web site is not intended and should not be construed as investment, tax, legal, financial or other advice. Note Crypto products are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
DISCLAIMER : CUSTODY OF PHYSICAL ART
This disclaimer note is intended to inform all concerned parties about the custody arrangement of physical artwork by the Artfi Foundation at the Dubai Museum. Please read this note carefully before engaging with Artfi's services or visiting the museum.
1. Custodial Responsibility: The Artfi Foundation, acting as a third-party custodian, is responsible for the safekeeping and preservation of the physical artwork displayed at the Dubai Museum. This arrangement is made on behalf of the Artfi community.
2. Custodial Integrity: The Artfi Foundation is committed to maintaining the integrity and security of the physical artwork. However, while all reasonable precautions are taken, it is important to acknowledge that unforeseen circumstances, including but not limited to natural disasters, accidents, or theft, may pose inherent risks to the artworks.
3. Artfi fractions as Admission Passes: Artfi fractions serve as exclusive admission passes to the Artfi Museum and its special events. Holders of Artfi fractions enjoy access to the museum based on the terms and conditions outlined by Artfi.
4. Liability Disclaimer: The Artfi Global LLC, and its associated entities shall not be held liable for any loss, damage, or unforeseen events affecting the physical artworks, including but not limited to fire, theft, vandalism, or acts of nature. Visitors and fraction holders engage with the museum and its offerings at their own risk.
PRIVACY AND DATA PROTECTION WITH KYC
1. Introduction
As part of our business operations, we collect personal information from our clients and prospective clients in order to provide them with our products and services, and ensure that we can meet their needs when providing these products and services, as well as when providing them with any respective information.
Your privacy is of utmost importance to us, and it is our policy to safeguard and respect the confidentiality of information and the privacy of individuals. This Privacy Notice sets out how Artfi API products and services provided in Saint Vincent and the Grenadines; its affiliates and subsidiaries (collectively, the Artfi Entities - “Artfi”, “the Company”, “We”, “Us”, and the trading and direct sales services provided by Artfi (collectively the “Artfi” or “platform”), collects, uses and manages the personal information we receive from you, or a third party, in connection with our provision of services to you or which we collect from your use of our services and/or our website. The Privacy Notice also informs you of your rights with respect to the processing of your personal information.
Our Privacy Notice is reviewed regularly to ensure that any new obligations and technologies, as well as any changes to our business operations and practices are taken into consideration, as well as that it remains abreast of the changing regulatory environment. Any personal information we hold will be governed by our most recent Privacy Notice.
Please note that if you are an employee of the Company, a contractor to the Company or a third-party provider, your personal information will be used in connection with your employment contract or your contractual relationship, whichever applies.
This Privacy Notice applies to the processing activities performed by Artfi to the personal information of its clients and its potential clients and website visitors.
We may amend this Privacy Notice at any time by posting the amended version on this site including the effective date of the amended version. We will announce any material changes to this Privacy Notice on our website.
2. Definitions
As used herein, the following terms are defined as follows:
2.1 “Digital Asset” is a digital representation of value (also referred to as “cryptocurrency,” “virtual currency,” “digital currency,” “crypto token,” “crypto asset,” or “digital commodity”), such as bitcoin, XRP or ether, which is based on the cryptographic protocol of a computer network that may be (i) centralized or decentralized, (ii) closed or open-source, and (iii) used as a medium of exchange and/or store of value. 2.2 “Artfi Account” means a user-accessible account offered via the Artfi platform Services where Digital Assets are stored by Artfi. 2.3 “Artfi Platform Services” means Artfi-branded websites, applications, services, or tools operated by Artfi group companies. 2.4 “We,” and “Us” refers to Artfi. 2.5 “Personal Information” or “Personal Data” or “your data” refers to any information relating to you, as an identified or identifiable natural person, including your name, an identification number, location data, or an online identifier or to one or more factors specific to the physical, economic, cultural or social identity of you as a natural person.
3. Your Data Controller
Our products and services are provided through local operating entities or global entities under the same management. The Company you are contracting with is your Data Controller, and is responsible for the collection, use, disclosure, retention and protection of your personal information in accordance with our global privacy standards, this Privacy Notice, as well as any applicable national laws. The Company uses encryption to protect your information and store decryption keys in separate systems. We process and retain your personal information on our servers in multiple data center locations, including Saint Vincent and the Grenadines and dynamic servers elsewhere in the world.
4. How do we protect personal information?
The Company respects the privacy of any users who access its website, and it is therefore committed to taking all reasonable steps to safeguard any existing or prospective clients, applicants and website visitors. The Company keeps any personal data of its clients and its potential clients in accordance with the applicable privacy and data protection laws and regulations. We have the necessary and appropriate technical and organisational measures and procedures in place to ensure that your information remains secure at all times. We regularly train and raise awareness for all our employees to the importance of maintaining, safeguarding and respecting your personal information and privacy. We regard breaches of individuals’ privacy very seriously and will impose appropriate disciplinary measures, including dismissal from employment. We have also appointed a Data Protection Officer, to ensure that our Company manages and processes your personal information in compliance with the applicable privacy and data protection laws and regulations, and in accordance with this Privacy Notice. The personal information that you provide us with when applying to open an account, applying for a role within the Company, or when using our website, is classified as registered information, which is protected in several ways. You can access your registered information after logging in to your account by entering your username and the password that you have selected. It is your responsibility to make sure that your password is only known to you and not disclosed to anyone else. Registered information is securely stored in a safe location, and only authorised personnel have access to it via a username and password. All personal information is transferred to the Company over a secure connection, and thus all reasonable measures are taken to prevent unauthorised parties from viewing any such information. Personal information provided to the Company that does not classify as registered information is also Artfi _ Terms of Use, Privacy, Anti Money Laundering, Data Protection, KYC Policy Toolkit kept in a safe environment and accessible by authorised personnel only through username and password.
5. Information we may collect about you
In order to open an account with us, you must first complete and submit a “create account” form to us by completing the required information. By completing this form, you are requested to disclose personal information in order to enable the Company to assess your application and comply with the relevant laws (including their regulations).
The information that we collect from you is as follows:
Full name, residential address and contact details (e.g. email address, telephone number, fax etc.);
Date of birth, place of birth, gender, citizenship;
Nominee details like name, relationship, date of birth, gender and contact details (e.g. email address, telephone number, fax etc.);
Bank account information, credit card details, including details about your source of funds, assets and liabilities, and such other information as may be asked;
Digital Wallet Address;
Trading account balances, trading activity, your inquiries and our responses;
Information on whether you hold a prominent public function (PEP) (like politician);
Verification information, which includes information necessary to verify your identity such as a passport, driver’s licence or Government-issued identity card);
Other Personal Information or commercial and/or identification information – Whatever information we, in our sole discretion, deem necessary to comply with our legal obligations under various anti-money laundering (AML) obligations,such as under the European Union’s 4th AML Directive and the India Bank Secrecy Act (BSA).
6. Information we collect about you automatically
Location Information – Information that is automatically collected via analytics systems providers to determine your location, including your IP address and/or domain name and any external page that referred you to us, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system, and platform;
Log Information – Information that is generated by your use of Artfi platform Services that is automatically collected and stored in our server logs. This may include, but is not limited to, device-specific information, location information, system activity and any internal and external information related to pages that you visit, including the full Uniform Resource Locators (URL) clickstream to, through and from our Website or App (including date and time; page response times, download errors, length of visits to certain pages, page interaction information (such as scrolling, clicks, and mouse-overs), and methods used to browse away from the page;
7. Information we receive about you from other sources
We obtain information about you in a number of ways through your use of our services, including through any of our websites, the account opening process, webinar sign-up forms, event subscribing, news and updates subscribing, and from information provided in the course of on-going support service communications. We also receive information about you from third parties such as your payment providers and through publicly available sources. For example:
The wallets you use to transfer funds to us will provide us with your basic personal information, such as your name and address, as well as your financial information such as your wallet details;
Your business partners may provide us with your name and address, as well as financial information;
Advertising networks, analytics providers and search information providers may provide us with anonymized or de-identified information about you, such as confirming how you found our website;
Credit reference agencies do not provide us with any personal information about you, but may be used to corroborate the information you have provided to us.
8. Anti-Money Laundering
To the extent it is required by Artfi to establish, maintain and monitor accounts of users on the Artfi platform, Artfi may use services of third-party service providers for the implementation and operation of the AML Policy in order to be in compliance with Singapore/Dubai/Australian AML laws applicable to Artfi for the data obtained from the users on its platform, including the Bank Secrecy Act and the PATRIOT Act, as described hereinafter. In this regard, Artfi shall use services of third party service providers for : (a) establishing and implementing internal policies, procedures and controls to be reasonably designed to prevent Artfi accounts from being used to launder money or finance terrorist activities; (b) independent testing of the activities on the platform, for compliance with Artfi AML policies and procedures; (c) designating a person or persons by such third party who shall be responsible for implementing and monitoring the operation and internal controls of Artfi’s AML program; and (d) providing ongoing training to the personnel responsible for monitoring Artfi AML relating to the prevention of money-laundering activities.
9. General Provisions
Personal Information you provide during the account creation process will be retained for one year, even if your registration is incomplete or abandoned.
10. Lawful basis for processing your personal information
We will process your personal information on the following bases and for the following purposes:
Performance of a contract We process personal data in order to provide our services and products, as well as information regarding our products and services based on the contractual relationship with our clients (i.e. so as to perform our contractual obligations). In addition, the processing of personal data takes place to enable the completion of our client on-boarding process. In view of the above, we must verify your identity in order to accept you as our client and we will use your personal data in order to effectively manage your trading account with us. This may include third parties carrying out credit or identity checks on our behalf. The use of your personal information is necessary for us to know who you are, as we have a legal obligation to comply with “Know Your Customer” and customer due diligence regulatory obligations.
Compliance with a legal obligation There are a number of legal obligations imposed by relevant laws to which we are subject, as well as specific statutory requirements e.g. anti-money laundering laws, financial services laws, corporation laws, privacy laws and tax laws. There are also various supervisory authorities whose laws and regulations apply to us. Such obligations and requirements imposed on us necessary personal data processing activities for identity verification, payment processing, compliance with court orders, tax laws or other reporting obligations and anti-money laundering controls. These obligations apply at various times, including client on-boarding, payments and systemic checks for risk management.
For the purpose of safeguarding legitimate interests
We process personal data so as to safeguard the legitimate interests pursued by us or by a third party. A legitimate interest is when we have a business or commercial reason to use your information. Example of such processing activities include the following:
Initiating legal claims and preparing our defense in litigation procedures;
Means and processes we undertake to provide for the Company’s IT and system security, preventing potential crime, asset security and access controls;
Measures for managing the business and for further developing products and services;
Sharing your data within the Artfi group of companies for the purpose of updating and/or verifying your personal data in accordance with the relevant anti-money laundering compliance frameworks, and
Risk management.
To provide you with products and services, or information about our products and services, and to review your ongoing needs. Once you successfully open an account with us, or subscribe to information, we must use your personal information to perform our services and comply with our obligations to you. It is also in our legitimate interests to try to ensure that we are providing the best products and services so we may periodically review your needs based on our assessment of your personal information to ensure that you are getting the benefit of the best possible products and services from us.
To help us improve our products and services, including support services, and develop and market new products and services. We may, from time-to-time, use personal information provided by you through your use of the services and/or through client surveys to help us improve our products and services. It is in our legitimate interests to use your personal information in this way to try to ensure the highest standards when providing you with our products and services and to continue to be a market leader within the cryptocurrency financial service industry.
To investigate or settle enquiries or disputes We may need to use personal information collected from you to investigate issues or to settle disputes with you because it is our legitimate interest to ensure that issues and disputes get investigated and resolved in a timely and efficient manner.
To comply with applicable laws, subpoenas, court orders, other judicial process, or the requirements of any applicable regulatory authorities We may need to use your personal information to comply with any applicable laws and regulations, subpoenas, court orders or other judicial processes, or requirements of any applicable regulatory authority. We do this not only to comply with our legal obligations but because it may also be in our legitimate interest to do so.
To send you surveys From time to time, we may send you surveys as part of our client feedback process. It is in our legitimate interest to ask for such feedback to try to ensure that we provide our products and services at the highest standard. However, we may from time to time also ask you to participate in other surveys and if you agree to participate in such surveys we rely on your consent to use the personal information we collect as part of such surveys. All responses to any survey we send out whether for client feedback or otherwise will be aggregated and depersonalised before the results are published and shared.
Data analysis Our website pages and emails may contain web beacons or pixel tags or any other similar types of data analysis tools that allow us to track receipt of correspondence and count the number of users that have visited our webpage or opened our correspondence. We may aggregate your personal information with the personal information of our other clients on an anonymous basis (that is, with your personal identifiers removed), so that more rigorous statistical analysis of general patterns may lead us to providing better products and services. If your personal information is completely anonymised, we do not require a legal basis as the information will no longer constitute personal information. If your personal information is not in an anonymised form, it is in our legitimate interest to continually evaluate that personal information to ensure that the products and services we provide are relevant to the market.
Marketing purposes We may use your personal information to send you marketing communications by email or other agreed forms (including social media campaigns), to ensure you are always kept up-to-date with our latest products and services. If we send you marketing communications we will do so based on your consent and registered marketing preferences.
Internal business purposes and record keeping We may need to process your personal information for internal business and research purposes as well as for record keeping purposes. Such processing is in our own legitimate interests and is required in order to comply with our legal obligations. This may include any communications that we have with you in relation to the products and services we provide to you and our relationship with you. We will also keep records to ensure that you comply with your contractual obligations pursuant to the agreement (‘Terms of Service”) governing our relationship with you.
Legal Notifications Often the law requires us to advise you of certain changes to products or services or laws. We may need to inform you of changes to the terms or the features of our products or services. We need to process your personal information to send you these legal notifications. You will continue to receive this information from us even if you choose not to receive direct marketing information from us.
11. Disclosure of your personal information
The Company will not disclose any of its clients’ confidential information to a third party, except: (a) to the extent that it is required to do so pursuant to any applicable laws, rules or regulations; (b) if there is a duty to disclose; (c) if our legitimate business interests require disclosure; (d) in line with our Terms of Service; (e) at your request or with your consent or to those described in this Privacy Notice. The Company will endeavour to make such disclosures on a “need-to-know” basis, unless otherwise instructed by a regulatory authority. Under such circumstances, the Company will notify the third party regarding the confidential nature of any such information.
As part of using your personal information for the purposes set out above, the Company may disclose your personal information to the following:
Any members of the Company, which means that any of our affiliates and subsidiaries may receive such information;
Any of our service providers and business partners, for business purposes, such as specialist advisors who have been contracted to provide us with administrative, financial, legal, tax, compliance, insurance, IT, debt-recovery, analytics, research or other services;
If the Company discloses your personal information to service providers and business partners, in order to perform the services requested by clients, such providers and partners may store your personal information within their own systems in order to comply with their legal and other obligations. We require that service providers and business partners who process personal information to acknowledge the confidentiality of this information, undertake to respect any client’s right to privacy and comply with all relevant privacy and data protection laws and this Privacy Notice.
12. Where we store your personal data
Our operations are supported by a network of computers, servers, and other infrastructure and information technology, including, but not limited to, third-party service providers. We and our Artfi _ Terms of Use, Privacy, Anti Money Laundering, Data Protection, KYC Policy Toolkit third-party service providers and business partners store and process your personal data in Saint Vincent and the Grenadines and elsewhere in the world.
13. Privacy Shield
Under Privacy, we are responsible for the processing of personal information we receive, collect, use, retain and subsequently transfer to a third party service provider or business partner acting for or on our behalf. We may not be liable for ensuring that the third parties we engage also support our Privacy commitments. Artfi commits to cooperate and comply with the advice of the regulatory authorities to whom you may raise a concern about our processing of your personal information pursuant to Privacy. This is provided at no cost to you.
14. Disclosures for National Security or Law Enforcement
Under certain circumstances, we may be required to disclose your personal information in response to valid requests by public authorities, including to meet national security or law enforcement requirements.
15. Transfers of personal information outside of Saint Vincent and the Grenadines
We may transfer your personal information outside Saint Vincent and the Grenadines to other Company subsidiaries, service providers and business partners (i.e Data Processors) who are engaged on our behalf. To the extent that we transfer your personal information outside of the Saint Vincent and the Grenadines, we will ensure that the transfer is lawful and that Data Processors in third countries are obliged to comply with the GDPR General Data Protection Act 2016. If transfers of personal information are processed in the US, we may in some cases rely on applicable standard contractual clauses, binding corporate rules.
16. Transfers of Personal Information outside of your country
By using our products and services, you consent to your Personal Data being transferred to other countries, including countries that have differing levels of privacy and data protection laws than your country. In all such transfers, we will protect your personal information as described in this Privacy Notice, and ensure that appropriate information sharing contractual agreements are in place.
17. Privacy when using digital assets and blockchains
Your funding of USDT, bitcoin, XRP, ether, and other Digital Assets, may be recorded on a public blockchain. Public blockchains are distributed ledgers, intended to immutably record transactions across wide networks of computer systems. Many blockchains are open to forensic analysis which can lead to deanonymization and the unintentional revelation of private financial information, especially when blockchain data is combined with other data. Because blockchains are decentralized or third-party networks which are not controlled or operated by Artfi or its affiliates, we are not able to erase, modify, or alter personal data from such networks.
18. Data Retention
Safeguarding the privacy of your personal information is of utmost importance to us, whether you interact with us personally, by phone, by email, over the internet or any other electronic medium. We will hold personal information, for as long as we have a business relationship with you, in secure computer storage facilities, and we take the necessary measures to protect the personal information we hold from misuse, loss, unauthorised access, modification or disclosure. When we consider that personal information is no longer necessary for the purpose for which it was collected, we will remove any details that will identify you or we will securely destroy the records. However, we may need to maintain records for a significant period of time (after you cease being our client). For example, we are subject to certain anti-money laundering laws which require us to retain the following, for a period of 7 years after our business relationship with you has ended.
A copy of the records we used in order to comply with our client due diligence obligations;
Supporting evidence and records of transactions with you and your relationship with us.
Also, the personal information we hold in the form of a recorded information, by telephone, electronically or otherwise, will be held in line with local regulatory requirements (i.e. 7 years after our business relationship with you has ended or longer if you have legitimate interests (such as handling a dispute with you)). If you have opted out of receiving marketing communications we will hold your details on our suppression list so that we know you do not want to receive these communications. We may keep your data for longer than 7 years if we cannot delete it for legal, regulatory or technical reasons.
19. Cookies
When you use our products and services, we may make use of the standard practice of placing tiny data files called cookies, flash cookies, pixel tags, or other tracking tools (herein, “Cookies”) on your computer or other devices used when engaging with us. We use Cookies to (i) help us recognize you as a customer, collect information about your use of our products and services, to better customize our services and content for you, and to collect information about your computer or other access devices to ensure our compliance with our AML obligations.
20. Your rights regarding your personal information
The rights that are available to you in relation to the personal information we hold about you are outlined below.
Information Access If you ask us, we will confirm whether we are processing your personal information and, if so, what information we process and, if requested, provide you with a copy of that information within 30 days from the date of your request.
Rectification It is important to us that your personal information is up to date. We will take all reasonable steps to make sure that your personal information remains accurate, complete and up-to-date. If the personal information we hold about you is inaccurate or incomplete, you are entitled to have it rectified. If we have disclosed your personal information to others, we will let them know about the rectification where possible. If you ask us, if possible and lawful to do so, we will also inform you with whom we have shared your personal information so that you can contact them directly. You may inform us at any time that your personal details have changed by emailing us at support@artfi.world.The Company will change your personal information in accordance with your instructions. To proceed with such requests, in some cases we may need supporting documents from you as proof i.e. personal information that we are required to keep for regulatory or other legal purposes.
Erasure You can ask us to delete or remove your personal information in certain circumstances such as if we no longer need it, provided that we have no legal obligation to retain that data. Such requests will be subject to the contract that you have with us, and to any retention limits we are required to comply with in accordance with applicable laws and regulations. If we have disclosed your personal information to others, we will let them know about the erasure request where possible. If you ask us, if possible and lawful to do so, we will also inform you with whom we have shared your personal information so that you can contact them directly.
Processing restrictions You can ask us to block or suppress the processing of your personal information in certain circumstances such as if you contest the accuracy of that personal information or object to us processing it. It will not stop us from storing your personal information. We will inform you before we decide not to agree with any requested restriction. If we have disclosed your personal information to others, we will let them know about the restriction of processing if possible. If you ask us, if possible and lawful to do so, we will also inform you with whom we have shared your personal information so that you can contact them directly.
Data portability In certain circumstances you might have the right to obtain personal information you have provided us with (in a structured, commonly used and machine readable format) and to re-use it elsewhere or ask us to transfer this to a third party of your choice.
Objection You can ask us to stop processing your personal information, and we will do so, if we are:
Relying on our own or someone else’s legitimate interests to process your personal information except if we can demonstrate compelling legal grounds for the processing;
Processing your personal information for direct marketing; or
Processing your personal information for research unless we reasonably believe such processing is necessary or prudent for the performance of a task carried out in the public interest (such as by a regulatory or enforcement agency).
21. Automated decision-making and profiling
If we have made a decision about you based solely on an automated process (e.g. through automatic profiling) that affects your ability to access our products and services or has another significant effect on you, you can request not to be subject to such a decision unless we can demonstrate to you that such decision is necessary for entering into, or the performance of, a contract between you and us. Even if a decision is necessary for entering into or performing a contract, you may contest the decision and require human intervention. We may not be able to offer our products or services to you, if we agree to such a request (i.e. end our relationship with you).
22. Changes to this Privacy Notice
Our Privacy Notice is reviewed regularly to ensure that any new obligations and technologies, as well as any changes to our business operations and practices are taken into consideration, as well as that it remains abreast of the changing regulatory environment. Any personal information we hold will be governed by our most recent Privacy Notice.
If we decide to change our Privacy Notice, we will post those changes to this Privacy Notice and other places we deem appropriate so that you are aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it.
23. Our products and services are not available to children
Our products and services are not directed to persons under the age of 18, hereinafter “Children”, “Child” and we do not knowingly collect personal information from Children. If we learn that we have inadvertently gathered personal information from a Child, we will take legally permissible measures to remove that information from our records. The Company will require the user to close his or her account and will not allow the use of our products and services. If you are a parent or guardian of a Child, and you become aware that a Child has provided personal information to us, please contact us at support@artfi.world and you may request to exercise your applicable access, rectification, cancellation, and/or objection rights.
24. Data Security
a) We have implemented measures designed to secure your personal data from accidental loss and from unauthorized access, use, alteration and disclosure. The safety and security of your information also depend on you. Where we have given you (or where you have chosen) a password for access to certain parts of the Services, you are responsible for keeping this password confidential. We ask you not to share your password with anyone.
b) Steps taken to ensure data security:
i. All the user information can only be accessed by authorized users; and
ii. Users need to authenticate themselves with a username-password combination.
c) Unfortunately, the transmission of information via public networks such as the internet is not completely secure. Although we do our best to protect your personal data, we cannot guarantee the security of your personal data transmitted through the Services. Any transmission of personal data is at your own risk. We are not responsible for the circumvention of any privacy settings or security measures contained on the Services.
25. If you have a complaint
Any questions, complaints, comments and requests regarding this Privacy Notice are welcome and should be addressed to support@artfi.world.
Cookie Policy
We respect your privacy and we are committed to ensuring that you are adequately informed on how you can manage your cookies.
What are Cookies?
Cookies are small data files. When you visit a website, the website sends the cookie to your computer. Your computer stores it in a file located inside your web browser.
Cookies do not transfer viruses or malware to your computer, because the data in a cookie does not change when it travels back and forth, it has no way to affect how your computer runs. Instead they act more like logs (i.e. they record user activity and remember stateful information), and get updated every time you visit a website.
We may obtain information about you by accessing cookies sent by our website. Different types of cookies keep track of different activities. For example, session cookies are used only when a person is actively navigating a website. Once you leave the website, the session cookie disappears. For a more detailed list of cookies we use, please see the relevant section below.
Why are Cookies useful?
We use functional cookies to analyze how visitors and clients use our website, as well as track and improve our website’s performance and function. This allows us to provide a high-quality customer experience by quickly identifying and fixing any issues that may arise. For example, we might use cookies to keep track of which website pages are most popular and which method of linking between website pages is most effective.
Another use of cookies is to store your login sessions, meaning that when you log in to your account to deposit funds, a “session cookie” is set so that the website remembers that you have already logged in. If the website did not set this cookie, you will be asked for your login details on each new page as your progress through the funding process.
In addition, functional cookies for example, are used to allow us to remember your preferences and identify you as a user, ensure your information is secure and operate more reliably and efficiently. For example, cookies save you the trouble of typing in your username every time you access our trading platform, and recall your preferences. Here are some of the functions our cookies provide us with:
Verifying your identity and detecting the country you are currently visiting from;
Checking browser type and device,
Tracking which site the user was referred from.
Types Of Cookies
1. Functional cookies: These cookies are essential for the running of our website. Without these cookies our website would not function properly. These are saved temporarily as login information and expire once the browser is closed.
2. Analytical cookies: The information provided by analytical cookies allows us to analyze patterns of visitor and client behavior and we use that information to enhance the overall experience or identify areas of the website which may require maintenance. The information is anonymous (i.e. it cannot be used to identify you and does not contain personal information such as your name and email address), and it is only used for statistical purposes. Behavioral cookies are similar to analytics and remember that you have visited the website and use that information to provide you with content which is tailored to your interests.
Manage Cookies
You can delete cookies any time you want by using the settings in your web browser. You can also choose to disable cookies from your web browser, but this would mean that our website and other websites that you access may not function properly. If you do this, a potential result is that you may not be able to sign in. Further information on deleting or controlling cookies can be found at www.aboutcookies.org.
