§ 1 General
a) Scope of application
These General Terms and Conditions shall apply to all business and legal relations between Coinsence Sevices SuarL, Rue Emir Abdelkader, Tunis, Tunisia (hereinafter referred to as: Coinsence) and its users in force at the time the contract is concluded. Deviating regulations of the users shall not apply, unless this has been expressly confirmed in writing by Coinsence. Individual agreements have priority at all times.
b) Contract agreement
c) Components of the contract
Coinsence is provider of the open source solution under the name Coinsence (hereinafter referred to as: Software), a customisable social network software for communication and collaboration combined with tokenized value exchange tools for tracing and rewarding of all kinds of contributions within communities.
§ 2 Provision of services
Coinsence provides the users with the opportunity to use the software free of charge on the servers provided by Coinsence.
b) Registration / conclusion of the contract
The users declare their binding acceptance of the offer in accordance with these GTC upon creation of an instance that is free of charge. (This occurs already when a subdomain is indicated and acceptance is subsequently confirmed by clicking the "Create" button).
c) Responsibility of the user
The user shall be exclusively responsible for the content and accuracy of the information provided to Coinsence.
Furthermore, the user may not store or share data or make them available otherwise to users or third parties on any services made available by Coinsence, if the contents of these violate the rights of third parties or existing laws.
The users are responsible themselves for ensuring that their password remains confidential. This means that they must keep their password secret, may not to pass it on to others, may not allow or enable it to be passed on and must implement all necessary measures to ensure confidentiality. In the event of an abuse or loss of this information or of a corresponding suspicion thereof, the user shall be required to communicate this to Coinsence immediately by email at info@Coinsence.org.
d) Data access
Our data protection agreement shall apply. Coinsence collects, stores and processes data to the extent necessary for the rendering of the agreed services. The user acknowledges and agrees that the personal data necessary for the settlement of the contractual relationship be stored on data carriers.
The user expressly agrees to the collection, processing and use of personal data for the purposes of carrying out the contract of use. This includes all the information required for the proper settling of the contract concluded between Coinsence and the user, i.e. in particular name, address, contact information (telephone number, fax number, e-mail address) and payment information; furthermore, this also includes the anonymous evaluation of any requested files, as well as the name of the file, the date and time of the request, the amount of data transferred, the access status (file transferred, file not found, etc.) and a description of the type of web browser used.
Coinsence shall only be authorised to collect the personal data for advertising purposes and to store, modify or use them with the separate explicit consent of the user. Coinsence is in no way entitled to submit these data in the form of a list or in another aggregated form to third parties for advertising purposes. Coinsence shall treat all personal information confidentially. The collection, processing and use of personal data shall be subject to compliance with the national laws. The users has the possibility to delete his added content which is not connected to token transaction or binding commitments towards other members within the platform. To ensure regulatory compliance and maintain trust and transparency within the network related to performed transactions, Coinsence shall have the right to not delete the personal data of the user in the event of ongoing contractual relationships with a user and after termination of said contract.
e) Technical requirements
The use of Coinsence requires specific compatible devices and software as well as an adequate Internet access.
Coinsence does not guarantee the permanent availability of the services offered. Furthermore, Coinsence does not ensure that the services offered or any part thereof can be made available and used from any place.
g) Performance delays
Coinsence shall not be responsible for performance delays due to Force Majeure or exceptional and unforeseeable events which cannot be prevented even by utmost diligence on the part of Coinsence (these include, in particular, strikes, government or judicial orders and cases of incorrect or improper delivery on the part of our suppliers despite a respective hedging transaction). Such events authorise Coinsence to postpone the provision of services for the duration of the impeding event.
In the case of a non-availability for the aforementioned reasons, Coinsence may withdraw from the contract. Coinsence undertakes to inform the user immediately about the unavailability and to reimburse amounts already received, if any.
The services may be terminated monthly without further notice, no minimum terms are established.
j) Duty to secure data Coinsence shall secure the data effectively as part of its service delivery, does, however, not assume any general backup guarantees for the data fed into the system by the user. The users are also solely responsible for periodically creating adequate backups of their data, thus preventing data loss. Coinsence shall exercise reasonable care when rendering the agreed services and shall carry out the data backup with the necessary expertise. However Coinsence does not ensure that the stored content or data accessed by the user cannot be accidentally damaged or corrupted, lost or partially removed.
k) Payment conditions Unless otherwise contractually agreed, the usage of Coinsence.org platfrom is free. For any special services where fees might apply, unless otherwise agreed, these fees will be communicated to users and shall be payable in advance.
§ 3 Use
The user agrees to use the services offered by Coinsence only to the extent permissible by law and in accordance with these Terms and Conditions. Abusive use will lead to an exclusion from exercising the usage rights granted.
Any fees already paid will not be refunded in this case.
b) Abusive use
Abusive use exists in particular in the case of copyright infringements. In addition, abusive use is given if illegally obtained data are provided, disseminated or otherwise made available for use or if data are disseminated or provided for illegal purposes. Abusive use of the Coinsence services is given in particular in the case of • sending spam, • sending and storing obscene, infringing, threatening, insulting or other contents that violate the rights of third parties, • sending and storing viruses, worms, Trojans and harmful computer codes, files, scripts, agents or programs, • uploading programs which are capable of interfering with, impairing or preventing the operation of Coinsence's services, • an attempt to obtain or grant to third parties unauthorised access to the service provided by Coinsence or to individual modules, systems or applications.
c) Exemption from liability
The user undertakes to exempt Coinsence from all third party claims, including reasonable and legally established costs for legal prosecution, which result from a non-contractual or abusive or illegal use of the website services and their contents by the user. The user shall support Coinsence in the defence of these claims, in particular by making available all information necessary for the defence. The user shall be obliged to pay compensation for damages suffered by Coinsence due to the successful enforcement of such claims by third parties.
§ 4 Liability
a) Exclusion of liability
Coinsence and its legal representatives and agents shall be liable only for intent or gross negligence under the following reservation. In case of slight negligence, liability only applies to the breach of material contract obligations, i.e. obligations, the fulfilment of which are of particular importance to reaching the purpose of the contract. The liability shall be limited to the foreseeable, typical, direct average damage. Coinsence shall be liable vis-à-vis users that are not consumers in the event of a grossly negligent breach of non-essential contractual obligations only to the amount of foreseeable, typical, direct average damage.
§ 6 Risk disclosure related to COINs
In the current stage there is no framework that can assure the rights on investors whose shares are represented by digital tokens. Thus, all tokens within this platform shall not be considered as securities and investment instruments. All distributed tokens are in the current stage proof-of-contributions than can create in later stages utility for token holders in form of vouchers for products, services and resources offered by the network. The ability to convert token into equity shares cannot be guaranteed in the current stage.
Coinsence platform offers only the technical solution that enable individuals and organization to issue and use crypto token. The utility and value of tokens depend on the issuer, Coinsence it not responsible for any agreements between token issuer and token holder. Within terms and conditions, all members (physical persons and legal entities) must use their real name and ensure the correctness of their data. Coinsence is implementing digital solution to verify identities but Coinsence is not responsible for the correctness of data and user profile information within the platform.
a) Dilution of Equity Stake
As most businesses on the platform don’t generate internal accruals to reinvest, it is highly likely that they will raise more money in the future to fund their operations. This means that businesses may issue new shares to new investors thereby lowering the percentage of the shares you own. These new shares may also have rights that supersede yours.
b) Dividend Distribution
Most of the projects listed on the platform will be in the early stages of their life-cycle. Early-stage companies are often unprofitable in their first few years of operations and hence would be unable to distribute dividends.
Although shares that are digitally represented by tokens are transferable, token holders may not be able to liquidate their token when they choose to do so.
d) Loss of Capital
Many early-stage businesses generally fail, and accordingly carry a high investment risk. Token holders on the platform may lose all or part of their capital. Members shall contribute only with resources so that they can afford not to get any value in returns of the tokens they have acquired.
e) Platform ceasing to exist
If for any reason the platform ceases to carry on its business, notwithstanding the exit plan in place, token holders may lose their money, incur costs, or experience delays in being paid.
f) Reporting Requirements
Companies listed on our website are not subject to the same requirements as a public company, although they are contractually bound to regularly update token holders regarding their performance through our platform.
g) Higher degree of risk The use of credit or borrowed monies to invest or on the platform creates greater risk. For example, even if the Investment declines in value, the investor will still need to meet their repayment obligations.
§ 6 Final provisions
a) Place of jurisdiction
Place of jurisdiction for all disputes arising from this contract shall be the registered office of Coinsence in Tunisia, insofar as the user is a businessman, a legal entity under public law or a special fund under public law. The same applies if a user has no general jurisdiction in Tunisia or if the domicile or usual residence at the time the action is brought is unknown.
b) Choice of law
The relationships between Coinsence and the user shall be subject to the laws of Tunisia. For consumers, this choice of law is only applicable, insofar as the protection provided is not revoked by mandatory provisions of the law of the State in which the consumer has his usual residence. Application of the UN convention on the international sale of goods shall be excluded.
c) Severability clause
If any provision of this Agreement is invalid, the remaining provisions shall remain unaffected thereby. The invalid provision shall be replaced by a provision which comes as close as possible to the spirit and purpose of the ineffective provision in a legally effective manner. The same shall apply to any gaps.
d) Changes to this terms
Coinsence reserves the right to change these GTC at any time without giving reasons. The revised terms will be sent to users per e-mail no later than two weeks before they enter into force. If a user does not contradict the validity of the new GTC within six weeks of receipt of said e-mail, the revised GTC shall be deemed to have been accepted. Coinsence will inform the user in the e-mail containing the amended terms of the importance of this period.