Last updated: March 10, 2022.
Please read the Terms of Service carefully. By creating a Wenlite account, or by accessing or using the services, you agree to be legally bound by these Terms of Service and all the terms incorporated by reference.
This summary of our Terms of Service offers you an overview of the key terms that apply to your use of our app and trading services. While we hope this summary section is helpful, however, we advise you to read the complete Terms of Service below as they provide important information about how our services work. Please note that we refer to our application service where you can execute trades as “Wenlite”.
Capitalised terms not otherwise defined in these Terms will have the following meaning:
This Section 5 applies to:
This section only applies when you use our services to trade Digital Currency for Legal Tender or vice versa, or to trade Digital Currency for another form of Digital Currency. Wenlite does not buy, sell, or trade any Digital Currency on its own behalf, except for trades conducted on behalf of Wenlite users where we fulfil every order on a spot basis as the counterparty to both sides of the transaction.
This Section only applies when you use the Services in order to purchase or sell Digital Currency directly from Wenlite, a service available in a large number of markets and jurisdictions.
If, for whatever reason, we are holding funds in your Wenlite account on your behalf, and we are unable to return your Funds to your designated External Account after a period of inactivity, then we may report and remit such Funds in line with the relevant unclaimed property laws for your jurisdiction.
When accessing or using the services offered via our Wenlite mobile app, you agree that you will not violate any law, contract, intellectual property or other third-party right or commit an offence, 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:
We will own exclusive rights, including all intellectual property rights, to any feedback, suggestions, ideas or any material regarding Wenlite or to our other services that you provide to us either via email on social media or by surveys (“Feedback”).
Any Feedback you submit is non-confidential and shall become the sole property of Wenlite. 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 relinquish 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 hold 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.
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.
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.
Unless expressed to the contrary by us in writing, our services are provided on as ‘as is’ and ‘as available’ basis.
We announce that we disclaim and 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 irretrievable, lost, 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 own control.
You are thus solely responsible for backing up and or keeping duplicates of any information you store, transfer and or submit to us.
UNLESS REQUIRED TO DO SO BY LAW, IN NO EVENT SHALL WENLITE or its 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 THE WENLITE SERVICE, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM WENLITE, 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 WENLITE’S RECORDS, PROGRAMS OR SERVICES
You agree to defend, indemnify and hold harmless Wenlite (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.
You and Wenlite 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 OR FROM HAVING A JURY TRIAL. You and Wenlite agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Wenlite shall be sent to www.wenlit.io
We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion. If we make changes to these Terms, we will provide you with notice of such changes, such as by sending an email, providing notice on the homepage of the Site and/or by posting the amended Terms via our mobile applications and updating the “Last Updated” date at the top of these Terms. The amended Terms will be deemed effective immediately upon posting for any new users of the Services. In all other cases, the amended Terms will become effective for pre-existing users upon the earlier of either: (i) the date users click or press a button to accept such changes, or (ii) continued use of our Services 30 days after Wenlite provides notice of such changes. Any amended Terms will apply prospectively to use of the Services after such changes become effective. If you do not agree to any amended Terms, you must discontinue using our Services and contact us to terminate your account.
We are furnishing this document to you to provide some basic facts about purchasing digital assets or legal tender on margin, and to alert you to the risks involved with trading assets in a margin account. Before trading assets in a margin account, you should carefully review this margin disclosure statement. If you have any concerns and or questions regarding your margin account, then do not hesitate to contact us through our support team via the contact details on our website. www.wenlite.io
When you purchase digital assets for legal tender or vice versa, you may pay in full or you may borrow part of the purchase price from us. If you choose to borrow funds from us, you will open a margin account. The assets purchased are our collateral for the loan to you. If the assets in your account declines in value, so does the value of the collateral supporting your loan, and, as a result, we can take action, such as issue a margin call and/or sell assets in your account, in order to maintain the required equity in the account.
It is important that you fully understand the risks involved in trading assets on margin. These risks include the following: