TERMS AND CONDITIONS FOR THE PURCHASE, HOLDING AND USE OF BTD

Important Notice:

These Terms and Conditions apply to the purchase, holding and use of BTD. By purchasing, holding and/or using the BTD, User is deemed to have read, understood and accepted, and is and is deemed to be bound by, these Terms and Conditions.

Notwithstanding anything herein or in any other agreement, document and/or any other terms and conditions relating to the BTD, BTD is not an investment. Without prejudice to the foregoing, the BTD does not constitute securities, units in a business trust, units in a collective investment scheme, a financial product or any other form of investment. If User is looking to make an investment, User should not purchase and/or hold the BTD.

The marketing, offer, sale, purchase, holding and/or use of BTD may be prohibited or restricted under, may constitute a breach of and/or require certain actions to be taken or conditions to be satisfied under applicable laws, rules and regulations in certain jurisdictions. BTR Foundation has not taken and will not be taking any action for, or in order to satisfy any such conductions in connection with, the marketing, offer, sale, purchase, holding and/or use of BTD in any jurisdiction.

It is the sole responsibility of User to comply with, and by purchasing, holding and/or using BTD, User represents, warrants and undertakes with BTR Foundation that it has complied and will comply with, all applicable prohibitions, restrictions and applicable laws, rules and regulations in connection with its purchase, holding and/or use of BTD.

1.      Definitions and interpretation

1.1 In these Terms and Conditions (including in the section ‘Important Notice’ above), unless the context otherwise requires:

Bit Disk Storage Chain” means the Bit Disk storage platform built and/or to be built on blockchain technology.

BTC” means Bitcoin.

BTD” means the BTD tokens issued or to be issued by BTR Foundation.

BTD Address” means the BTD address created by User through the BTD Wallet.

BTR Foundation” means BTD Foundation Pte. Ltd., a company incorporated in Singapore with Registration No. 201808073E.

BTD Wallet” means the software released or to be released by BTR Foundation for the management and use of BTD.

BTD Website” means the official website of BTR Foundation at bitrice.io, or at any replacement or substitute website address.

BTD Whitelist” means the list of persons who have completed BTR Foundation’s prevailing “Know Your Customer” process to its satisfaction and are pre-qualified to purchase, hold and use BTD.

ETH” means Ethereum.

Fiat Currency” means the lawful currency issued by any government and that is recognised by applicable law to be valid for meeting a financial obligation, and includes without limitation the United States dollars and Euros.

Operator” means the company operating the Bit Disk Storage Chain.

Private Key” means the private key of the BTD Address of User.

Purchase Terms” has the meaning given to it in Condition 5.2.

Terms and Conditions” means these Terms and Conditions, as may from time to time amended, modified, varied, novated, supplemented or replaced.

User” means any person purchasing from BTR Foundation, holding and/or using BTD.

White Paper” means the technical white paper relating to the BTD and the Bit Disk Storage Chain that is or will be made available on the BTD Website.

1.2 Any reference to a “person” includes an individual, corporation, company, partnership, firm, trustee, trust or unincorporated association.

1.3 Any reference to a “person” includes a reference to its legal personal representative, successor, trustee, executor and permitted assign, as the case may be.

1.4 Words importing one gender include every gender, and words importing the singular shall include the plural and vice versa.

1.5  Any  reference  to  “Condition”  means  any  of  the  provisions  in  these  Terms   and

Conditions.

1.6 Any reference to any agreement, instrument or document (including these Terms and Conditions) shall include such agreement, instrument or document (including these Terms and Conditions) as from time to time amended, modified, varied, novated, supplemented or replaced.

1.7 Any reference to a statutory provision shall be construed as including a reference to any statutory modification, consolidation or re-enactment (whether before or after the date hereof) for the time being in force, all statutory instruments or orders made pursuant to it, and any statutory provisions of which it is a consolidation, re-enactment or modification.

2.      BTD and nature of BTD

User acknowledges, understands and agrees with BTR Foundation as follows:

(a)     BTD is the virtual “fuel” required for the use of the Bit Disk Storage Chain and the Bit Disk Storage Chain and, unless BTR Foundation and Operator otherwise agree, shall be the only medium of exchange that is accepted for use of the Bit Disk Storage Chain and in the Bit Disk Storage Chain eco-system.

(b)     As the virtual “fuel” of the Bit Disk Storage Chain and its related eco-system, User can use BTD to pay for usage of the storage functions (such as storage of files, accessing files and sharing files) of the Bit Disk Storage Chain, and to obtain the original photos, videos, files, live broadcasts and other original contents of the other users of the Bit Disk Storage Chain.

(c)     The funds from the sale of BTD by BTR Foundation may be transferred (whether by way of grants or otherwise) by BTR Foundation to Operator and/or other persons (including any persons in which BTR Foundation or Operator has no legal or equitable ownership interest or control or in which the shareholders and/or directors of BTD Foundation and/or Operator may have an interest) for the purpose of the development of the BTD and/or the Bit Disk Storage Chain and its related eco-system.

(d)     There is no assurance that the BTD and/or the Bit Disk Storage Chain and its related eco-system will be successfully developed or of the timing thereof or, if successfully developed, will be used widely or at all. There is also no assurance that BTD will be accepted widely or at all by any other person as a medium of exchange or a form of payment or for any other uses or purposes, or may be traded on any exchange.

(e)     BTD does not constitute securities of any form, units in a business trust, units in a collective investment scheme, a financial product or any other form of investment.

(f)      BTD does not represent or confer on User any shares or debentures in BTR Foundation, Operator or any other company or entity, or any rights attached to any such shares or debentures (such as voting rights, dividends or other distributions, and/or creditor's rights ) in any way whatsoever.

(g)    BTD does not enable or accord any opportunity to User, and should not be construed or treated as enabling or according any opportunity to User, to participate in or receive profits, income or other payments or returns arising from or in connection with the operation of the Bit Disk Storage Chain, the BTD or the proceeds of the sale of BTD, or to receive sums paid out of such profits, income or other payments or returns (whether in the form of dividend, interest or otherwise).

(h)     Without prejudice to the foregoing, the BTD does not constitute, and should not to be construed or treated as constituting: (i) a Fiat Currency and the BTD is not pegged to any Fiat Currency; (ii) debentures, stocks or shares issued by BTR Foundation, Operator or any other company or entity; (iii) rights, options or derivatives in respect of such debentures, stocks or shares; (iv) rights under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss; (v) units in a collective investment scheme; (vi) units in a business trust; (vii) derivatives of units in a business trust; or (viii) any other security, class of securities or form of investment.

(i)      There is no right on the part of User to require BTR Foundation, and BTR Foundation is under no obligation, to redeem or accept the return of any BTD or exchange any BTD held by User for Fiat Currency, any cryptocurrency (including BTC or ETH) or any other asset.

(j)      BTD does not represent or confer on User any rights to receive or otherwise obtain any assets (whether tangible or intangible) of BTR Foundation, Operator or any other company or entity.

(k)  Neither the White Paper nor these Terms and Conditions or any other agreement or document relating to the BTD and/or the Bit Disk Storage System constitutes a prospectus or offer document of any kind or is intended to constitute an offer or sale, or invitation for purchase, of or solicitation of an offer to purchase securities of any form, units in a business trust, units in a collective investment scheme, any financial product or any other form of investment in any jurisdiction.

(l)   Neither the White Paper nor these Terms and Conditions or any other agreement or document relating to the BTD and/or the Bit Disk Storage Chain has been registered, lodged or filed with any regulatory authority in any jurisdiction. No regulatory authority in any jurisdiction has examined or approved of any of the information set out in the Whitepaper, these Terms and Conditions or any other agreement or document relating to the BTD and/or the Bit Disk Storage Chain. No action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction in relation to the marketing, offer, sale, holding and/or use of BTD.

(m)   The purchase, holding and/or use of BTD may be prohibited or restricted under, or may constitute a breach of and/or require certain actions to be taken or conditions to be satisfied under, applicable laws, rules and regulations in certain jurisdictions. BTR Foundation has not taken and will not be taking any action for, or in order to satisfy any such conductions in connection with, the marketing, offer, sale, purchase, holding and/or use of BTD in any jurisdiction.

(n)  Without prejudice to the foregoing, the laws, rules, regulations and policies applicable to distributed ledger technology, blockchain technology, cryptocurrencies and tokens and the marketing, offer, sale, purchase, holding and/or use of cryptocurrencies and tokens (collectively “Regulations”) vary from jurisdiction to jurisdiction. Existing Regulations are subject to change, and new Regulations may also be introduced, from time to time. Any change to existing Regulations or the introduction of new Regulations to which BTR Foundation, Operator, the Bit Disk Storage Chain and/or the BTD may be subject, whether in Singapore or elsewhere, may have a positive or adverse impact (or even a material adverse impact) on BTR Foundation, Operator, the Bit Disk Storage Chain and/or the BTD (including the functions, and/or the holding or use, of BTD). User acknowledges, understands and agrees that BTR Foundation is not able to predict the nature and extent of such impact, and that such impact may include the inability of User to use the BTD in the manner contemplated in these Terms and Conditions and a total loss of the value of the BTD held by User. BTR Foundation accepts no liability whatsoever to User in such event.

3.      BTD Wallet and BTD Address

3.1 User shall download the BTD Wallet and create its own BTD Address at the BTD Website in order to purchase, hold and use BTD.

3.2 When User creates the BTD Address, a Private Key will be generated for User. The Private Key is unique and only available to User. User acknowledges and agrees that it is fully responsible for the safe custody of the Private Key, and that if the Private Key is lost, all BTD in User’s BTD Address cannot be recovered.

3.3 User can transfer BTD from its BTD Address to another valid BTD Address at any time, subject to compliance with the terms and conditions of use of the BTD Address.

3.4 User can check on the balance of the BTD available in its BTD Wallet and its transaction records for transactions conducted through its BTD Wallet at any time.

3.5 User undertakes with BTD Foundation that it will not use BTD for any illegal or unethical activities, or for the purpose of illegal gambling, money laundering or terrorism. BTD Foundation reserves the right to refuse to sell or transfer any BTD to User if it has reason to suspect that User will use BTD for any such purpose.

4.      BTD Whitelist

4.1 User is permitted to purchase, hold and/or use the BTD from BTR Foundation only if User is on the BTD Whitelist.

4.2 User understands that it will need to, and agrees to, complete BTR Foundation’s “Know Your Customer” (referred to herein as “KYC) procedures to the satisfaction of BTR Foundation before User can be placed on the BTD Whitelist.

4.3 BTR Foundation’s KYC procedures will include, without limitation, verification of User’s email address and check code, its BTD Address, its ETH or BTC address, its identification certification and its contact information.

4.4 For the avoidance of doubt, BTD Foundation is under no obligation to sell or transfer any BTD to User if User does not satisfactorily complete BTR Foundation’s KYC procedures and is not placed on the BTD Whitelist.

5.      BTD purchase and exchange

        5.1 Any purchase of BTD from BTR Foundation shall be subject to these Terms and

Conditions.

5.2 BTR Foundation may impose additional terms and conditions and require a purchaser to enter into and/or execute a separate agreement or other document for the purchase of BTD from BTD Foundation (collectively “Purchase Terms”). In the event of any inconsistency between the Purchase Terms and these Terms and Conditions, the Purchase Terms shall prevail to the extent of such inconsistency.

     5.3 BTR Foundation will not accept Fiat Currency for the purchase of BTD.

5.4 Subject to these Terms and Conditions and the Purchase Terms, User can use only BTC or ETH to exchange for BTD based on the subscription ratio of BTC or ETH to BTD as may be determined by BTR Foundation and posted on the BTD Website or otherwise notified to User.

5.5 User is required to transfer the relevant number of BTC or ETH to BTR Foundation at its designated BTC or ETH address from User’s BTC or ETH address registered with BTR Foundation during the KYC procedures. If BTC or ETH is transferred from a BTC or ETH address that is not registered with BTR Foundation during the KYC procedures, any BTC or ETH received by BTR Foundation will be treated as a donation and BTR Foundation is under no obligation to sell or transfer any BTD to User or any other person.

5.6 After BTR Foundation verifies that the BTC or ETH is transferred from a BTC or ETH address registered with BTR Foundation to the designated BTD Address of BTR Foundation, BTR Foundation will transfer to User the relevant number of BTD to the BTD Address of User based on prevailing subscription ratio of BTC or ETH to BTD. Such transfer will take place at such time as may be determined by BTR Foundation or separately agreed with User.

5.7 User acknowledges, understands and agrees that once the relevant number of BTD has been transferred to User in accordance with the applicable subscription ratio of BTC or ETH to BTD, User shall have no claim against BTR Foundation for the return of the BTC or ETH paid to BTR Foundation in exchange for the BTD.

5.8 User acknowledges, understands and agrees that if BTD is traded on any exchange, BTD held by User may be subject to a certain period of lock-up in accordance with the terms and conditions of the relevant exchange.

6.      BTD lost or stolen

6.1 User’s Private Key is the unique authentication of its BTD Address, and is unique and only available to User. User is fully responsible for the safe custody of its Private Key. User understands that if it loses its Private Key, it will not be able to access its BTD Wallet or BTD Address and will lose all of the BTD in its BTD Wallet. In such a situation, BTR Foundation will not be able to help User to retrieve the BTD in its BTD Wallet or BTD Address, and will not be liable to User in any way whatsoever in connection therewith.

6.2 Without prejudice to the foregoing, BTR Foundation will also not be liable to User for any lost or stolen BTD from its BTD Wallet or BTD Address, for any reason whatsoever.

7.      Fees and charges

7.1 BTR Foundation does not currently impose any charge or fee for User to maintain and use its BTD Wallet and BTD Address.

7.2 BTR Foundation currently imposes a flat rate of 0.01 BTD for the transfer of BTD. Such rate may be changed from time to time in the discretion of BTR Foundation, and the new rate will be posted on the BTD Website.

8.      Representations and warranties

8.1 User represents and warrants to and undertakes BTR Foundation that, at all times when it is holding and/or using any BTD:

(a)  It has taken all necessary actions in order to accept, observe and perform of these Terms and Conditions.

(b)  It has obtained all necessary consents and approvals (including from all relevant authorities) in order for it to accept, observe and perform these Terms and Conditions.

(c)  It has full power and capacity to accept, observe and perform these Terms and Conditions, and these Terms and Conditions constitute valid and binding obligations enforceable against it.

(d)  It has accepted these Terms and Conditions, and is purchasing, holding and using BTD, for its own account, and not as a nominee or agent of any other person.

(e)  It has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of purchasing, holding and using BTD, is able to incur a complete loss of the amount paid or to be paid for any purchase of the BTD without impairing its financial condition, and is able to bear the economic risk associated with purchasing and/or holding BTD and/or accepting, observing and performing these Terms and Conditions for an indefinite period of time.

(f)  It has a reasonably sufficient degree of understanding of the operation, functionality, usage, storage, transmission mechanisms and other material characteristics of blockchain-based software systems, cryptocurrencies, cryptocurrency wallets and/or other related token storage mechanisms, blockchain technology and smart contract technology to be able to understand the BTD and the Bit Disk Storage Chain.

(g)  It is aware and understands that there are risks associated with BTD Foundation and Operator (and their respective businesses and operations), the BTD and the Bit Disk Storage Chain, and the purchase, holding and use of the BTD, including but not limited to those set out in these Terms and Conditions.

(h)  Its acceptance, observance and performance of these Terms and Conditions, and its purchase, holding and use of the BTD, does not and will not violate any applicable laws, rules or regulations in any relevant jurisdiction, and further it has complied with all laws, rules and regulations applicable to it in relation to the acceptance, observance and performance of these Terms and Conditions and/or its purchase, holding or use of the BTD.

8.2 User shall at all times indemnify and keep indemnified BTR Foundation in full against any loss, damage, liability, costs or expenses suffered or incurred by BTR Foundation arising from or in connection with any breach of any of the foregoing representations, warranties and undertakings and/or any of the Conditions herein.

9.      Termination

9.1 BTR Foundation and User may mutually agree in writing to terminate the agreement arising from User’s acceptance or deemed acceptance of these Terms and Conditions at any time.

9.2 BTR Foundation may immediately terminate the agreement arising from User’s acceptance or deemed acceptance of these Terms and Conditions by written notice to User if:

(a) User commits a material breach of any of its obligations under these Terms and Conditions and fails to remedy such breach within fourteen (14) days from receiving written notice of such breach from BTR Foundation; or

(b)  User becomes insolvent or bankrupt or is wound up, makes a general assignment for the benefit of its creditors, suffers or permits the appointment of a receiver over its business or assets, or becomes the subject of any proceedings relating to insolvency or the protection of creditors’ rights and fails to have these proceedings struck out within fourteen (14) days.

9.3 The termination of the agreement arising from User’s acceptance of these Terms and Conditions shall not affect any accrued rights or liabilities of BTR Foundation or User under these Terms and Conditions.

10. Limitation of liability

10.1 BTR Foundation and Operator do not make, or purport to make, and hereby disclaim to the greatest extent permitted by law, any representation, warranty or undertaking in any form whatsoever, and whether expressed or implied (including any warranties implied by law as to merchantability or fitness for purpose), to User in respect of BTR Foundation, Operator, the BTD or the Bit Disk Storage Chain or its related eco-system.

10.2 Notwithstanding anything herein, the maximum aggregate liability of BTR Foundation to User under or in connection with these Terms and Conditions shall not exceed the number of BTC or ETH actually transferred to and received by BTR Foundation pursuant to Condition 5.5, regardless of whether the form of action is based in contract, tort (including negligence), restitution or any other legal or equitable theory.

10.3 To the greatest extent permitted by law, in no event will BTR Foundation or any of its directors, officers, employees or agents be liable to User for any indirect, special, incidental, consequential or exemplary damages of any kind (including without limitation loss of revenue, income or profits, loss of use or data or damages for business interruption) under or in connection with these Terms and Conditions and/or the sale, purchase and transfer of the BTD, regardless of whether the form of action is based in contract, tort (including negligence), restitution or any other legal or equitable theory (even if User has been advised of the possibility of such damages and regardless whether such damages were foreseeable).

10.4 Without prejudice to any other provisions herein, and to the greatest extent permitted by law, User waives, releases and discharges BTR Foundation, its related companies and affiliates, and their respective directors, officers, shareholders and employees of and from all claims, demands, actions, losses, damages, liabilities, costs and expenses, however and wherever arising, suffered or incurred by User arising from or in connection with:

(a)  any negligence or default on the part of BTR Foundation in its performance of these Terms and Conditions;

(b)  the accuracy or completeness or otherwise of any information in the White Paper, these

Terms and Conditions, any document relating to the BTD and/or the Bit Disk Storage Chain issued by or on behalf of BTR Foundation, and/or any other information provided to User by or on behalf of BTR Foundation;

(c)  any loss, theft or destruction of BTD after transfer to User, regardless of the reason or suspected reason for such loss, theft or destruction;

(d)  any malfunction, instability, breakdown, paralysis, rollback or forking of any blockchain on which the BTD and/or the Bit Disk Storage Chain is connected to or based upon; or

(e)   any changes made to the technical nature of the BTD or any delay in the transfer of the BTD to User.

11. Notices

11.1 User agrees that BTR Foundation may give notices and communications under or in connection with these Terms and Conditions by:

(a)    announcement on the BTD Website;

(b)   email to the last email address which User has registered with BTR Foundation;

(c)  by hand to the last address which User has registered with BTR Foundation; or

(d)   by pre-paid recorded delivery to the last address which User has registered with BTR Foundation.

11.2 Any such notice or communication is deemed to be effective and received by User at the time when:

(a)   if announced on the BTD Website, it is published on the BTD Website;

(b)  if sent by email, when it is sent (unless BTR Foundation promptly receives an automated message indicating failed delivery);

(c)   if delivered by hand, on the date of delivery; or

(d)   if posted by pre-paid recorded delivery, on third business day after the time of posting.

If such notice or communication was given by more than one of the above ways, the User shall be deemed to have received such notice or communication at the earliest date at which it is deemed to have received it in accordance with this Condition 11.2 above.

12. Amendments

12.1 BTR Foundation may from time to time amend, modify vary, novate, supplement or replace these Terms and Conditions by notice given under these Terms and Conditions in accordance with Condition 11 provided that such notice expressly states that it amends, modifies, varies, novates, supplements or replaces these Terms and Conditions.

12.2 Any amendment, modification, variation, novation, supplement or replacement of these Terms and Conditions shall be effective and bind User at such time when User is deemed to have received notice thereof in accordance with Condition 11, regardless of whether User has actually received and/or read the same, or at any later time when such amendment, modification, variation, novation, supplement or replacement is expressed to take effect.

13. Miscellaneous

13.1 These Terms and Conditions (together with any agreements and/or documents referred to herein, including the White Paper, and/or any other terms and conditions relating to the BTD accepted or deemed to be accepted by User from time to time) embodies all the terms and conditions agreed upon by BTR Foundation and User as to the subject matter of these Terms and Conditions and supersedes and cancels in all respects all previous agreements and undertakings, if any, between BTR Foundation and User with respect to the subject matter of these Terms and Conditions, whether such be written or oral.

13.2 These Terms and Conditions shall be binding on, and enure for the benefit of, each of the BTR Foundation and User and its personal representatives, successors and permitted assigns. User shall not assign or transfer of any of its rights and/or obligations under these Terms and Conditions without the prior written consent of BTR Foundation.

13.3 User shall be responsible for its owns costs, charges and expenses incurred in connection with its acceptance, observance and performance of its obligations under these Terms and Conditions, including any tax arising from or in connection with the BTD and/or these Terms and Conditions.

13.4 No failure or delay by BTD Foundation in exercising any right, power or remedy under these Terms and Conditions shall operate as a waiver thereof, nor shall any single or partial exercise of the same preclude any other or further exercise thereof or the exercise of any other right, power or remedy.

13.5 If any Condition or part of a Condition shall be, or be found by any authority or court of competent jurisdiction to be, illegal, invalid or unenforceable, such illegality, invalidity or unenforceability shall not affect the other Conditions or parts of such Condition, all of which shall remain in full force and effect. The illegal, invalid or unenforceable Condition or part of such Condition shall be deemed to be substituted by a suitable and equitable provision which, to the extent legally permissible, comes as close as possible to the intent and purpose of the illegal, invalid or unenforceable Condition or part of such Condition.

13.6 No person other than a party to the agreement arising from User’s acceptance or deemed acceptance of these Terms and Conditions may enforce these Terms and Conditions by virtue of the Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore, but this does not affect any right or remedy of a third party which exists or is available apart from that Act.

14. Governing law and jurisdiction

14.1 These Terms and Conditions shall be governed and construed in accordance with the laws of Singapore.

14.2 All disputes arising under these Terms and Conditions and the agreement arising from User’s acceptance or deemed acceptance of these Terms and Conditions, including any question regarding the existence, validity or termination of any such agreement, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre in accordance with the Arbitration Rules of the Singapore International Arbitration Centre for the time being in force, which rules are deemed to be incorporated by reference in this clause. The tribunal shall consist of one (1) arbitrator, appointed by BTR Foundation. The seat of the arbitration shall be Singapore and the language of the arbitration shall be English or Chinese, at the option of BTR Foundation. Any arbitral award will be final, non-appealable and binding on the Parties. Judgment upon an award rendered may be entered in any court having competent jurisdiction.

15. Language

15.1 These Terms and Conditions are written in both English and Chinese. If there is a conflict between the English and Chinese versions of these Terms and Conditions, the English version of these Terms and Conditions shall prevail.

16. BTD wallet disclaimer

16.1 Any function of the BTD wallet (rice bag) comply with relevant national laws and regulations, rules and user agreements formulated and published by the Bitrice Foundation, and not infringe upon the legitimate rights and interests of any third party or violate the public interest or public morality. Users must bear any legal consequences and legal liabilities arising from their illegal operations, and ensure that the Bitrice Foundation is free from any legal liability and loss.

16.2 The Bitrice Foundation will do its best to maintain security and convenience for all services on CumeBox accounts.However, it is not responsible for the deletion or storage failure of information appearing in the service (including but not limited to information published by users, account address, number of digital assets, etc.).In addition, Cume Technology reserves the right to determine whether the user's behavior conforms to the requirements of the terms of service.

16.3 The use of this service involves Internet services, which may be affected by unstable factors in various links, there is a risk of service interruption or failure to meet user requirements due to force majeure factor, computer virus, hacker attack, system instability, user's location, user shutdown and any other network, technology, communication line, etc. Users should understand and take the above risks on their own, and the Bitrice Foundation will not take any responsibility.

16.4 The Bitrice Foundation is not responsible for the economic losses incurred by third parties such as telecommunication lines fault, technical problems, network failures, computer failures, system instability and other force majeure factors.

16.5 If the normal operation of the service is affected by force majeure events such as technical failure, the Bitrice Foundation promises to cooperate with relevant units to deal with matters and repair in time, but the Bitrice Foundation is not responsible for any users’financial loss.

16.6 If the user violates this agreement and related terms that cause any claim, request or loss from any third party, including reasonable litigation costs and lawyer costs, the user should compensate for the Bitrice Foundation, the cooperation company and the associated company, and promise to protect them from damage. The Bitrice Foundation has the right to regard the user’s operation, and take measures take measures including, but not limited to interruption of the use of license, discontinuing the provision of services, restricting the use restricting the use, and legal investigation ,etc..

16.7 In case of any dispute over the content of this agreement or its execution, a friendly negotiation shall be made as far as possible. When the negotiation fails, disputing parties may bring a lawsuit to court with jurisdiction over the domicile of the Bitrice Foundation.