1.1. These Derivative Terms and Conditions pertain to individuals who are using the Derivative web pages, which are part of Visiion.com (referred to as the "Website"). It's important for you to carefully review these Derivative Terms and Conditions to understand their applicability to your use. Keep in mind that these terms should be considered alongside the terms and conditions that relate to other web pages of the Website (referred to as the "General Terms and Conditions". By creating a Derivative Account, funding it, or accessing and using any of the Derivative Products available on the Website (collectively known as the "Derivative Services"), you (referred to as "you" or "your") agree to abide by these Derivative Terms and Conditions.
1.2. By creating or funding a Derivative Account or accessing or using any of the Derivative Services (each as defined below), you acknowledge that you have read, understand, and completely agree to these Derivative Terms and Conditions as updated and amended from time to time.
1.3. If you do not agree to be bound by these Derivative Terms and Conditions or with any subsequent amendments, changes or updates, you may not access or use any of the Derivative Services, and if you do access or use any of the Derivative Services, you will be bound by these Derivative Terms and Conditions, as updated and amended from time to time; your only recourse in the case of your unwillingness to be bound by these Derivative Terms and Conditions is to stop using all of the Derivative Services.
2.1. "Derivative Services" means any service that we or any person or entity of VISIION provides to you and which you wish to avail by using Our Platform and Our Website.
2.2. "Derivative Products" means the derivative products available at the Website from time to time, including perpetual contracts.
2.3. "Derivative Account" means collectively, User's account, Derivative Wallet, Derivative Cross- Margining Wallet and other records, all as utilized by VISIION from time to time to record the User's balances of Fiat, Virtual/ Digital Assets, Derivative Products, other assets and usage of the Derivative Services.
2.4. "Available Margin Collateral" means Settlement Tokens made available by VISIION for use in the Derivative Cross-Margining Wallet as set out in paragraph 3 of these Derivative Terms of Service;
2.5. "Derivative Wallet" means a software application or similar mechanism offered by VISIION. It allows Users to engage in transactions involving Derivative Products, but it only operates with Settlement tokens that users have deposited into the wallet themselves.
2.6. "Derivative Cross-Margining Wallet" means the software application (or other mechanism) provided by VISIION that provides a means to transact in Derivative Products, utilizing Settlement Tokens provided by VISIION secured by Virtual/ Digital Assets provided by the User;
2.7. "Virtual/ Digital Assets " has the meaning provided in the General Terms and Conditions;
2.8. "Virtual/ Digital Wallet" means a software application (or other mechanism) that provides a means for holding, storing and transferring Virtual/ Digital Assets including virtual/ digital asset address and virtual/digital balance and cryptographic keys.
2.9. "Fiat" means the money or currency of any country or jurisdiction that is: designated as legal tender and circulated, customarily used, and accepted as a medium of exchange in the country or jurisdiction of issuance;
2.10. "Prohibited Person" means any U.S. Person; South African Person; individual who is a citizen or resident of Canada; citizen or resident of Seychelles; individual who is a citizen or resident of the British Virgin Islands; the Government of Venezuela; resident of, Government or Government Official of, any Prohibited Jurisdiction; and any Sanctioned Person;
2.11. "Transactions" means transactions entered with Us pursuant to the Terms and Conditions and any Trading Agreement.
2.12. "Fees" refer to transaction fees, costs and charges published on the Platform, as amended from time to time, and payable to VISIION in relation to your access to and use of the Services.
2.13. 'Parties" means the parties to the Terms, being You and VISIION, and "Party" shall mean any one of the foregoing (as the context requires).
2.14. "Users" means the user of the Services, including You.
2.15. "Applicable Laws and Regulations" means any applicable laws, bylaws, rules and regulations of any jurisdiction and any applicable order of the court of a competent jurisdiction and the same may be made, remade, modified and re-enacted from time to time.
3.1. VISIION grants you the limited right to use the Derivative Services. The right to use the Derivative Services is a personal, restricted, non-exclusive, non-transferable, nonsublicensable, revocable, limited license, and it is subject to the limitations and obligations in these Derivative Terms and Conditions.
3.2. Nothing in these Derivative Terms and Conditions gives you any license (other than as set out in this paragraph), right, title, or ownership of, in, or to the Site, any of the Site Services, the Copyrights or the Marks.
3.3. VISIION may suspend or terminate the provision of Derivative Services to You, Your Derivative Account, Derivative Wallet or Derivative Cross-Margining Wallet, or to any of your Virtual/Digital Asset Wallets or freeze or terminate your Derivative Account (including your Derivative Wallet or Derivative Cross-Margining Wallet), or your Fiat, Virtual/ Digital Assets, Derivative Products or other assets at its sole discretion, as required by applicable Laws or where VISIION determines that you have violated, breached, or acted inconsistent with any of these Derivative Terms and Conditions or exposed VISIION or its associates to the possibility of sanctions, restrictions or losses pursuant to Applicable Laws and Regulations, or in connection with an investigation regarding any of the foregoing.
3.4. Every Prohibited Person is strictly prohibited from directly or indirectly holding, owning, or operating a Derivative Account (including a Derivative Wallet or Derivative Cross-Margining Wallet) in any way or otherwise transacting on or using the Derivative Services or the Website
3.5. No Derivative Account (including a Derivative Wallet or Derivative Cross-Margining Wallet) may be operated for and no order or transaction in a Derivative Account (including a Derivative Wallet or Derivative Cross-Margining Wallet) may be for the financial or other benefit of a Prohibited Person.
4.1. VISIION facilitates peer-to-peer trading of Derivative Products. A Derivative Product may be traded by market participants on a leveraged basis without owning a Virtual/ Digital Asset itself.
4.2. The Virtual/ Digital Assets permitted to satisfy margin and other collateral requirements for open orders and open positions for each Derivative Product will be referred to in this Derivative Terms and Conditions as "Margin Collateral".
4.3. Trading a Derivative Product requires a user of the Website to commit an amount of a specified VISIION approved type of Virtual/Digital Assets as collateral sufficient to satisfy VISIION's margin requirements, plus an additional amount to cover other obligations such as Transaction Fees.
4.4. VISIION has created an integration to allow you to transfer permitted Virtual/ Digital Assets to your Derivative Wallet or Derivative Cross-Margining Wallet from your VISIION Account and to your VISIION Account from your Derivative Wallet or Derivative Cross-Margining Wallet.
4.5. VISIION does not permit you to add Virtual/Digital Assets to your Derivative Wallet or Derivative Cross-Margining Wallet through any other means. As a result, to transfer permitted Virtual/Digital Assets to your Derivative Wallet or Derivative Cross-Margining Wallet and use the Derivative Services, you must obtain a VISIION account pursuant to and in accordance with the General Terms and Conditions.
5.1. To trade a Derivative Product on the Website, Users must follow these steps:
5.1.1. Commit an approved type of Virtual/ Digital Assets as collateral: You need to provide a certain amount of specific Virtual/ Digital Assets approved by VISIION as collateral. This collateral should meet VISIION's margin requirements.
5.1.2. Include additional funds: Along with the margin requirements, you should add extra funds to cover various obligations, including transaction fees.
5.2. Users agree that, when a funding payment, applicable to the Derivative Product, is required from your Derivative Wallet or Derivative Cross-Margining Wallet to one or more positions on the other side of the market, you will pay and you authorize VISIION to debit and transfer from Margin Collateral in your Derivative Wallet and your security for available Margin Collateral in your Derivative Cross-Margining Wallet any amount of Settlement Tokens that is required to satisfy the required Funding Payment. The amount required to be paid pursuant to a Funding Payment is governed by the terms set forth in the Funding Payment Summary
5.3. VISIION offers an integration feature that enables you to transfer eligible Virtual/ Digital Assets between your Derivative Wallet or Derivative Cross-Margining Wallet and your account on VISIION. This feature also allows you to move Virtual/ Digital Assets between your account on VISIION and your Derivative Wallet or Derivative Cross-Margining Wallet.
5.4. VISIION does not permit you to add Virtual/ Digital Assets to your Derivative Wallet or Derivative Cross-Margining Wallet through any other means.
5.5. In order to maintain easy transfer of permitted Virtual/Digital Assets to Your Derivative Wallet or Derivative Cross-Margining Wallet and use of Derivative Services you need to have an account with VISIION pursuant to and in accordance to the General Terms and Conditions.
5.6. A Derivative Account may have either a Derivative Wallet or Derivative Cross-Margining Wallet. While all Derivative Accounts may access the same Derivative Services and trade the same Derivative Products, the means of providing Margin Collateral differs materially between Derivative Accounts that maintain a Derivative Cross-Margining Wallet and those that maintain a Derivative Wallet.
5.7. Derivative Accounts with an existing Derivative Wallet can establish a Derivative Cross-Margining Wallet only if there are no open positions in Derivative Products in the associated Derivative Wallet and all Settlement Tokens have first been transferred out of your existing Derivative Wallet. Derivative Accounts with Derivative Cross-Margining Wallets may not also create or use a Derivative Wallet.
6.1. Users shall have to pay transaction Fees that VISIION charges for Your transaction and use of Derivative Product and for the use of Website and Derivative Services.
6.2. The Users hereby agree that VISIION has the right to revise the transaction Fees and update them. Any such revisions to the transaction fees will apply prospectively following the effective time of the fee revision.
7.1. Users agree that VISIION in its sole discretion may set the minimum initial and minimum maintenance margin requirements and the limits on leverage for each open, unexecuted order and each open position in a Derivative Product in your Derivative Account.
7.2. You agree that VISIION has the right at any time, in its sole discretion, to revise the Derivative Fee and Margin Schedule and the initial margin and maintenance margin requirements and leverage limits applicable to your open orders and open positions in each Derivative Product.
7.3. VISIION reserves the right to establish leverage, margin, and collateral requirements for your open orders and positions in Derivative Products. These requirements will be determined based on various factors, including the size of your orders and positions, market price volatility for the Derivative Product, and the Reference Asset.
7.4. Users are obligated to adhere to these leverage limits, initial and maintenance margin requirements, and other collateral requirements for each open order and position in a Derivative Product within the Derivative Account,
7.5. The Users understand and agree that separate margin requirement apply for each Website and Derivative Product, such that the Margin Collateral for a particular Derivative Product will support only the margin and other collateral requirements for the particular open orders and open position in that Derivative Product.
7.6. The Users understand and agree that "cross margining" between open orders and open positions in different Derivative Products by which the margin requirements would be set in reference to the net market risk across open orders and open positions in different Derivative Products is not permitted in a Derivative Wallet.
7.7. Users agree that any Margin Collateral in your Derivative Wallet that is committed to a particular Derivative Product may not be transferred from your Derivative Wallet or allocated to support open orders or open positions in other Derivative Products. Such Margin Collateral may be transferred or reallocated to support another Derivative Product order or position only in three instances:
7.7.1. following cancellation of an order or voluntary closing of a position in a Derivative Product, the Margin Collateral that had supported the order or position may be transferred or reallocated.
7.7.2. following reduction in the size of an open order or open position in a Derivative Product, the remaining Margin Collateral that exceeds VISIION's requirements for the continuing open order or open position may be transferred or reallocated; and
7.7.3. if VISIION exercises its discretion to permit the leverage applicable to an open order or open position to be changed and that change reduces the Margin Collateral requires, the excess Margin Collateral may be transferred or reallocated.
7.8. The Users understand and agree that VISIION is not required to treat or credit any Virtual/Digital Assets within your available Derivative Wallet Balance as Margin Collateral satisfying minimum initial and minimum maintenance margin requirements for your open orders and open positions in Derivative Products.
7.9. Margin Collateral requirements for the Derivative Product positions in your Derivative Cross- Margining Wallet will be established using "cross margining" between open orders and open positions in different Derivative Products by which the margin requirements are set in reference to the net market risk across open orders and open positions in different Derivative Products.
7.10. You acknowledge and agree that you shall not be permitted to execute an order for a Derivative Product unless the available Margin Collateral in your Derivative Cross-Margining Wallet at such time is sufficient to satisfy the amount of (i) the minimum initial margin required by VISIION for that order;(ii) any other collateral that VISIION requires to support that order and (iii) margin requirements for all of your other Derivative Product positions. When you place an order to trade a Derivative Product, you agree that VISIION is authorized to and will allocate enough of the Virtual/Digital Assets in your available Margin Collateral to satisfy the Margin Collateral requirements for such open order.
7.11. You acknowledge and agree that VISIION has the discretion to specify the specific type(s) of Virtual/ Digital Assets that can be used as collateral for the Settlement Tokens provided by VISIION. When you transfer Virtual/ Digital Assets into your Derivative Cross-Margining Wallet, these Virtual/ Digital Assets are allocated as security for the available Margin Collateral, which may only be moved in or out of your Derivative Cross-Margining Wallet.
7.12. You agree that VISIION in its sole discretion may set the particular type(s) of Virtual/ Digital Assets accepted as security for the Settlement Tokens that VISIION may make available to you. The Virtual/ Digital Assets that you transfer into the Derivative Cross-Margining Wallet are committed as security for Available Margin Collateral ("Security for Available Margin Collateral"). Security for Available Margin Collateral may only be transferred into or out of your Derivative Cross-Margining Wallet.
7.13. You agree that any Virtual/Digital Assets in your Derivative Cross-Margining Wallet that are necessary to support your Margin Collateral requirements may not be transferred from your Derivative Cross-Margining Wallet. Such Virtual/ Digital Assets may be transferred only if the Margin Collateral requirements of your open orders or open positions in Derivative Products is less than the Security Value required for your available Margin Collateral.
8.1. The User authorizes VISIION to close any of your open orders and liquidate or terminate your open positions in a Derivative Product and limit or suspend your trading in that Derivative Product in the event VISIION, in its sole judgment and discretion, determines that the Margin Collateral supporting those open orders and open positions fails to satisfy VISIION's minimum margin requirements for the open orders or the open position, or that VISIION determines that market conditions, market disruption, or your breach of these Derivative Terms and conditions require closure and liquidation of such open order or open position.
8.2. The User further agrees to bear and assume the risk of all financial and other Losses resulting from the liquidation or termination of your Derivative Product positions.
8.3. The User acknowledges and agrees that regardless of whether you maintain a Derivative Wallet or Derivative Cross-Margining Wallet, you retain responsibility for satisfying the availability limits, initial and maintenance collateral requirements, and other collateral requirements for your Derivative Product positions, without any obligation of VISIION to provide notice.
8.4. The circumstances that may lead to the forced closure of your open orders and the liquidation or termination of your open positions in a Derivative Product include the following:
8.4.1. Failure to meet minimum Margin requirements: The User acknowledges and agree that VISIION may automatically close your open orders and liquidate or terminate your open position in a Derivative Product without prior notice if VISIION determines, at its sole discretion, that the Margin Collateral supporting your open orders and position is insufficient to meet the minimum margin and other collateral requirements set by VISIION. If User has a Derivative Cross-Margining Wallet, multiple positions and open orders may be closed if the security Value of your Security for Available Margin Collateral is insufficient.
8.4.2. Non-Compliance with Terms of Service: The User understands that if you breach or fail to comply with any obligations and requirements outlined in these Derivative Terms of Service, VISIION has the right and authority to automatically close your open orders and liquidate or terminate your open position in a Derivative Product without prior notice.
8.4.3. Market Position Closure Due to Market Conditions: The User agrees that VISIION may close your open orders and liquidate or terminate your open position in a Derivative Product when VISIION, at its sole discretion, deems it necessary to address unusual, disruptive, or problematic market conditions.
8.4.4. Derivative Account Freeze: The User acknowledges that if VISIION freezes your Derivative Account, it may result in the closure of your open orders and the liquidation or termination of your open position in a Derivative Product.
8.5. The Processes and Associated Risks of Forced Position Closure: VISIION may employ two distinct processes for the forced closure of your open position in a Derivative Product, namely, (i) the "Position Liquidation Process" and (ii) the "Position Termination Process." It's important to understand that each of these closure processes carries separate and unique financial risks for you.
8.5.1. The Position Liquidation Process: The User acknowledges and agrees that the Position Liquidation Process involves the liquidation of your open positions in a Derivative Product by offsetting them against open market orders placed by other users of the Website in that same Derivative Product. The User further understands that this process will result in the complete loss of all Margin Collateral that was supporting the liquidated positions. By accepting these Derivative Terms of Service, you also understand that, following the liquidation of open positions according to the Position Liquidation Process, any remaining Margin Collateral that originally supported those positions will be forfeited by you and transferred to the Liquidation Fund.
8.5.2. The Position Termination Process: You comprehend and agree that the Position Termination Process entails the forced liquidation of an open position in a Derivative Product, where the open position to be liquidated will be offset and liquidated against the open position(s) of other users at prices that are less favorable than the prevailing market price at the time of liquidation. This process may be employed in various circumstances, such as when an open position of a user cannot be liquidated at prevailing market prices without resulting in a deficit balance in the Margin Collateral initially committed to the terminated position. This situation may arise, among other instances, during a Funding Payment event, although it is not limited to this scenario.
9.1. VISIION maintains a "Liquidation Fund" in an amount it chooses in its sole discretion. VISIION has no obligation to continue to maintain or at any time increase the Liquidation Fund. The Liquidation Fund is funded (i) in part by VISIION in amounts and at times based on its sole discretion; and (ii) in part by Virtual/Digital Assets that are forfeited in the Position Liquidation Process and the Position Termination Process. VISIION, in its sole discretion, may, but is not required to, draw upon and apply Virtual/Digital Assets in the Liquidation Fund to cover insufficient Margin Collateral to satisfy forced liquidations in the Position Liquidation Process and/or the Position Termination Process and to cover deficit balances in user accounts arising as a result of the Position Liquidation Process and the Position Termination Process.
9.2. The User agrees that the Liquidation Fund may be funded pursuant to these methods and that the Liquidation Fund is for the sole benefit of VISIION and its Associates in consideration of the administration of Derivative Products markets. VISIION has no obligation to continue to maintain the Liquidation Fund in any amount (or at all) and may remove Virtual/Digital Assets from the Liquidation Fund for any purpose, including unrelated expenses of VISIION or for the financial gain and for its Associates. You further agree that you have no claim to or interest in any Virtual/Digital Assets in the Liquidation Fund and waive and agree not to make any such claim.
10.1. You hereby acknowledge and consent to VISIION's authority to freeze your Derivative Account if VISIION's suspects, or has valid reasons to believe, that you are involved in unlawful, disruptive, or suspicious trading activities, have violated any of the Website Terms and Conditions, attempted to bypass technological safeguards or controls (such as accessing the Website through unauthorized means), or provided false or misleading information about yourself. It is important to understand that when your Derivative Account is frozen, you will be unable to perform transfers to or from your Derivative Wallet or Derivative Cross-Margining Wallet, and trading will be restricted.
10.2. VISIION's retains the right to investigate your behavior and actions, and you commit to fully cooperating with such an inquiry by providing any requested information to VISIION's. As part of this investigative process, VISIION's, at its sole discretion, may opt to close your Derivative Account. This action could lead to the closure of your open orders and the liquidation or termination of your open positions in Derivative Products through either the Position Liquidation Process or the Position Termination Process.
11.1. Please note that this section supplements the Derivative Products Risk Disclosure Statement and the Funding Statement applicable to the Derivative Product. Trading in Derivative Products and Virtual/ Digital Assets is highly volatile, and market conditions can change rapidly, affecting factors like price, liquidity, market depth, and trading behavior. The information presented on the Site is provided for general informational purposes only. VISIION and its Associates make no guarantees regarding the accuracy, completeness, or usefulness of this information.
11.2. You, as the user, assume full responsibility and liability for all activities, both trading and non- trading, conducted on the Site, your VISIION Account (including any subaccounts or "Virtual/ Digital Assets Wallets" as defined in the Other Terms of Service on the Site), and your Derivative Account (including your Derivative Wallet or Derivative Cross-Margining Wallet on the Website). This includes ensuring the accuracy of the status of any position or contract with other parties on the Site, even if the Site presents it incorrectly at any time.
11.3. You acknowledge and agree to the following:
11.3.1. You are entirely responsible and liable for all your actions and inactions, whether related to trading or other activities, on the Site. This includes bearing full responsibility for any gains and losses resulting from your use of the Site and any of its services.
11.3.2. You are responsible for addressing any negative balance in your Account, including your Derivative Wallet or Derivative Cross-Margining Wallet on the Website.
11.3.3. You are fully responsible and liable for meeting all your obligations related to financing activities on the Site.
11.3.4. You are responsible for safeguarding access to and information provided through the Site, including any Derivative Account, Virtual/ Digital Assets Wallet, Derivative Wallet, Derivative Cross-Margining Wallet, Virtual/ Digital Assets Address, private keys, usernames, passwords, and bank account details.
12.1. VISIION does not serve as a principal, counterparty, or market-maker in the transactions conducted via trading on the Site, including transactions involving Derivative Products, or in providing financing for leveraged trading on the Site. Nonetheless, VISIION oversees the trading platform for managing bids, offers, and executed contracts among parties engaging in Derivative Products trading on the Website.
12.2. You hereby grant VISIION an irrevocable authorization and instruction to perform the following actions:
12.2.1. Implement, impose, monitor, and uphold a lien (referred to as a "Lien") on all Fiat amounts and Virtual/Digital Assets held in your name or under your control in your Derivative Wallet on the Website in favor of VISIION.
12.2.2. Liquidate any Virtual/Digital Assets or Fiat held in your name or under your control in any Derivative Wallet if it becomes necessary to ensure that a Derivative Product counterparty is paid in accordance with the terms and subject to the conditions of the relevant Derivative Product.
13.1. The User may not:
13.1.1. Utilize the Site or any Services to conceal the origin or nature of illicit proceeds or to facilitate any breach of applicable Laws. This includes transacting or dealing in contraband Virtual/ Digital Assets, Fiat, funds, property, or proceeds.
13.1.2. Use the Website or any Derivative Services if such usage violates any applicable Laws, including Anti-Money Laundering (AML) Laws, Counter-Terrorist Financing (CTF) Laws, Anti-Corruption Laws, or Economic Sanctions Laws, which could result in penalties, sanctions, or legal exposure for VISIION due to the Derivative Services provided to you or your Derivative Account, including your Derivative Wallet or Derivative Cross-Margining Wallet, under these Derivative Terms and Conditions.
13.1.3. Employ the Website or any Derivative Services to circumvent, evade, avoid, or violate any applicable Laws, including AML Laws, CTF Laws, Anti-Corruption Laws, or Economic Sanctions Laws.
13.1.4. Use the Website or any Services to evade taxes in any jurisdiction applicable to you or the Website.
13.1.5. Trade or transact on the Website using assets that have not been legally obtained by you or that do not belong to you.
13.1.6. Use the Website or any Derivative Services to interfere with or undermine the rights or obligations of VISIION, other Website users, or any other individuals or entities.
13.1.7. Post, submit, publish, display, or transmit any User submission that violates the Website terms of service or infringes upon the rights of any individual, including their intellectual property rights.
13.1.8. Exploit misleading or inaccurate information to trade on the Website or take advantage of any technical glitches, malfunctions, failures, delays, defaults, or security breaches.
13.1.9. Conduct activities on the Website that are detrimental to VISIION, other Website users, or any other individuals or entities.
13.1.10. Engage in activities that disrupt the fair execution of transactions or create a false impression of market depth or interest on the Derivative Website.
13.1.11. Provide false or misleading information about yourself when registering your Derivative Account, such as impersonating another person or misrepresenting your affiliation.
13.1.12. Post, submit, publish, display, or transmit any User Submission likely to deceive any individual.
13.1.13. Omit or falsify information requested by VISIION or its Associates, including during Website registration or while administering any Services to you.
13.1.14. Attempt to harm VISIION, its Associates, or any individuals through your access to the Website or any Services. This includes posting, submitting, publishing, displaying, or transmitting defamatory, obscene, indecent, abusive, offensive, harassing, violent, hateful, inflammatory, or otherwise objectionable User submissions.
13.1.15. Promote discrimination based on race, religion, nationality, disability, sexual orientation, gender, gender identity, or age.
13.1.16. Create the impression that a User submission originates from or is endorsed by VISIION, its Associates, or any other individuals when it is not the case.
13.1.17. Maintain more than one registered identity or Derivative Account, including Derivative Wallet, on the Website.
13.1.18. Access the Website or use any Services using a virtual private network, proxy service, or any other third-party service, network, or product with the intent of disguising your IP address or location. This also includes accessing the Website or using any Services from jurisdictions of Prohibited Jurisdictions or from jurisdictions governed by any Prohibited Government or Government Official.
13.1.19. Post, submit, publish, display, or transmit any advertising or promotional material without the prior written consent of VISIION or its Affiliate.
13.1.20. Use a Derivative Account, Derivative Wallet, Derivative Cross-Margining Wallet, any Derivative Services, or the Website for the financial or other benefit of a Prohibited Person.
13.1.21. Violate, promote, cause a violation of, or conspire or attempt to violate these Derivative Terms of Service or applicable Laws.
14.1. Accordingly, VISIION insists on a comprehensive and thorough user due diligence process and ongoing analysis and reporting.
14.2. By accepting these Derivative Terms and Conditions, you are providing an affirmative certification that you do not fall under the category of a prohibited person and that you are not using a Derivative Account (comprising a Derivative Wallet or Derivative Cross-Margining Wallet) for the benefit of a prohibited person. You also commit to promptly furnish all requested information that is essential for meeting the due diligence requirements and obligations in accordance with relevant Laws and the compliance policies or procedures of VISIION or any of its Affiliates.
14.3. VISIION procedures to prevent money laundering ("AML") and counter terrorist financing ("CTF") are in line with all relevant rules and regulations concerning AML and CTF. These standards are designed to stop the Platform from being used for money laundering or terrorist financing. VISIION prioritizes compliance and are dedicated to implementing measures that prevent fraudulent transactions, report suspicious activities, and actively work to prevent money laundering, terrorist financing, and other financial crimes.
15.1. User makes the following representations and warranties to VISIION on the date when you accept or are deemed to accept these Derivative Terms and Conditions, and the Services. These representations and warranties are made with regard to the facts and circumstances that exist on each respective date, which are as follows:
15.1.1. If you are an individual user, you are at least 18 years of age and possess the legal capacity to enter into contracts as per applicable Laws.
15.1.2. If you are registering for the Website on behalf of a legal entity, that entity is validly established and legally existent under the laws of its jurisdiction, and You, as well as any individuals utilizing the Services on behalf of the entity, are duly authorized by the entity to act on its behalf.
15.1.3. You comprehend the risks associated with using the Website, and You are not prohibited by applicable Laws from using the Website or acting on behalf of a person who is prohibited or restricted from using the Website. You have also had the opportunity to seek professional advice regarding these Derivative Terms and Conditions and the Services, including legal, accounting, and tax advice.
15.1.4. You will not utilize the Website or Services to obscure the origin or nature of illegal funds or further any violation of AML Laws or CTF Laws. Nor will you engage in transactions involving unlawful Virtual/ Digital Assets, Fiat, property, funds, or proceeds.
15.1.5. You will solely trade or transact on the Website using legally obtained Fiat, funds, or Virtual/Digital Assets to which you have clear and marketable title, and that are free from any liens or encumbrances inconsistent with such transactions, except as allowed or contemplated by these terms.
15.1.6. You are in compliance with all Laws related to the derivative services, including AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, Tax Information Exchange Laws, or other tax Laws, and will continue to comply with them at your own expense
15.1.7. You agree to adhere to all tax and information reporting requirements imposed by AML Laws, CTF Laws, Anti-Corruption Laws, Economic Sanctions Laws, Tax Information Exchange Laws, or other tax Laws, as determined by VISIION.
15.1.8. You and your Affiliates will not engage in transactions or use assets or property subject to the Derivative Services on behalf of a Prohibited Person or within a Prohibited Jurisdiction. You will also not violate Economic Sanctions Laws.
15.1.9. You, your Affiliates, or your shareholders, directors, officers, employees, agents, or partners are not and do not have any association with a sanctioned Person, nor are you conducting any transaction that may result in becoming a sanctioned Person. You are not residing in or conducting transactions from a Prohibited Jurisdiction, nor are you a Government or Government Official of such a jurisdiction.
15.1.10. You or your Affiliates have not offered, promised, given, or authorized any unlawful payment or value, including Virtual/ Digital Assets Fiat, to a Government Official or private sector individual in violation of Anti-Corruption Laws.
15.1.11. You will not provide false or misleading information at any time, including during registration or due diligence processes, and will promptly update any information that becomes outdated or incorrect, including information regarding beneficial ownership.
15.1.12. You will implement reasonable cybersecurity measures to protect your Derivative Account and the Derivative Website from hacking or malicious actions, ensuring the integrity and security of your account.
15.1.13. You will not introduce or transmit any computer viruses into the Site, including the Website or VISIION's computer systems.
15.1.14. You understand that the assets reflected in your Derivative Wallet are not segregated but are recorded in VISIION books and records.
15.1.15. You acknowledge that trading or instructions received through your credentials are considered valid and binding, even if they result from an error made by you or any other source. VISIION may act upon these instructions without assuming any liability.
15.1.16. You agree to report all income from your activities on the Website as required by applicable Laws and pay all related taxes.
15.1.17. You own or control the rights to your User Submissions and have the right to grant the licenses mentioned above to VISIION, its Affiliates, and their licensees, successors, and assigns.
15.1.18. The use of your User Submissions by VISIION and its Associates does not infringe on the rights of any other person or violate Laws and regulations.
15.1.19. All your User Submissions are in compliance with the Website terms.
15.1.20. You will not advertise, promote, or offer to transact in any Derivative Product or other derivative product to any Person.
15.1.21. You will promptly inform VISIION if you become aware that any of the representations or warranties provided above are no longer correct or have become incorrect.
16.1. To the fullest extent allowed by applicable Law, you expressly acknowledge and agree that no Associate shall bear any responsibility or liability, and no Associate shall be held liable, directly or indirectly, for any Losses arising from or in connection with:
16.2. Your violation of the Website terms, including these Derivative Terms and Conditions.
16.3. The Website and its usage, except as explicitly outlined in the Derivative Terms and Conditions.
16.4. The Derivative Services and your utilization of any of them, except as explicitly set forth in the Website terms including these Derivative Terms of Service.
16.5. Your or any Affiliate's failure to adhere to applicable Laws.
16.6. Information or materials available through the Website, whether provided by VISIION, its Associates, or any other entity, including any Third-Party Services.
16.7. The actual or perceived value of Derivative Products or Virtual/Digital Assets traded or used on the Website or the prices of Derivative Products or Virtual/ Digital Assets displayed on the Website at any given time.
16.8. Any inaccurate, misleading, or incomplete statements made by VISIION or on the Website concerning your Derivative Account, including Derivative Wallet or Derivative Cross-Margining Wallet, whether resulting from VISIION negligence or other causes.
16.9. Any failure, delay, malfunction, interruption, or decision made by VISIION while operating the Website or providing any Derivative Service, including decisions that may affect your rights.
16.10. The theft, loss, or unauthorized use of your Derivative Account information, any security breaches or data breaches associated with your Derivative Account information, or any criminal or third- party actions affecting VISIION or any Associate.
16.11. Any offer, representation, suggestion, statement, or claim about VISIION, the Site, or any Site Service made by any Associate.
16.12. You hereby consent to releasing the Associates from any liability related to such Losses, and you agree to indemnify, safeguard, and hold the Associates harmless from all such Losses. To the maximum extent allowed by applicable Law, these limitations of liability, releases, and indemnifications shall be applicable regardless of whether the alleged liability or Losses are based on contract, negligence, tort, unjust enrichment, strict liability, violation of law or regulation, or any other legal basis. This applies even if the Associates were informed of or should have been aware of the potential for such Losses and damages and without regard to the success or effectiveness of any other remedies.
17.1. VISIION failure to exercise, or any delay in exercising, its rights, powers, or remedies under these Derivative Terms and Conditions or General Terms and Conditions does not constitute a waiver of those rights. The partial exercise of any right, power, or remedy does not prevent VISIION from exercising any other rights or remedies. VISIION'S remedies are cumulative and not exclusive. You acknowledge that VISIION's remedies include the following:
17.1.1. Injunctions to prevent breaches of these Derivative Terms of Service, and to enforce its terms, without the necessity of a bond.
17.1.2. The right to set off any Losses against amounts VISIION owes to you.
17.1.3. The right to seize and recover any of your Virtual/ Digital Assets or your interests held by VISIION or its Associates.
It is your responsibility as you access VISIION to make sure that you understand and fully follow the relevant laws and regulations of your own country. We do not support any offerings or make any solicitations in your country, and you cannot use your VISIION account for any prohibited offerings. In some countries, we may not be permitted to offer our products and Services to you unless you have taken unilateral steps to solicit information about such Services and made use of our products and Services. Access to VISIION and the offering of certain trades via VISIION may also be restricted in some jurisdictions as mentioned in Clause It is your responsibility to know about the restrictions that apply in your country of residence and to observe them, as in continuing to access our products and Services you represent to us that you are doing so legally and that, where relevant, you have solicited information about our products and Services and requested to be provided with them.
USERS FROM THE FOLLOWING JURISDICTIONS ARE PROHIBITED FROM USING ALL SERVICES: MAINLAND CHINA, THE UNITED STATES OF AMERICA, CANADA, UNITED ARAB EMIRATES, CUBA, IRAN, NORTH KOREA, SUDAN, SYRIA. THE LIST OF RESTRICTED JURISDICTIONS MAY CHANGE AND DIFFER ACCORDING TO CHANGES IN OUR POLICIES AND THE SERVICES WE OFFER TO A PARTICULAR JURISDICTION. IN THE EVENT OF SUCH CHANGE, WE MAY NOT PROVIDE NOTICE TO YOU. YOU ARE REQUIRED TO REFER TO THE LATEST INFORMATION ON THE PLATFORM OR THIS AGREEMENT TO BE INFORMED OF SUCH CHANGES.
20.1. Force majeure events are events beyond the control of either of the parties and are not reasonably foreseen. They may include but are not limited to acts of God, war, state or governmental actions, exchange controls, nationalizations, devaluations, forfeitures, natural disasters, terrorism, and other inevitable, unforeseeable, unanticipated, and unpredicted events that are not dependent upon the will of the parties.
20.2. If any of the parties fail to meet its obligations under the Terms because of a force majeure event, that party shall not be considered liable.
If any provision of this Terms and Conditions is held by any competent authority or court to be void or unenforceable in whole or in part, the other provisions of this Terms and Conditions and the remainder of the affected provisions shall continue to be valid and will be enforceable.
You consent to receiving all communications and documents electronically from VISIION. These communications will be considered effective when published on the Site or sent to your authorized email address. Electronic acceptance of these Derivative Terms and Conditions is considered as valid as a physical signature.
23.1. The Terms and Conditions constitutes the entire agreement between You and Us and shall supersede any and all prior or contemporaneous agreements, representations, warranties and understandings either written or oral with respect to the subject matter of these terms and conditions.
23.2. If any of the provisions of this Terms and Conditions become totally or partially invalid or unenforceable for any reason, then it shall be deemed that these provisions of the Terms and Conditions be replaced be new and effective ones that can be more or less close to the intentions of the parties.
23.3. Any headings and captions are just for the purpose of convenience and in no way shall define and the explain any section of the provision thereof
24.1. YOU UNDERSTAND THAT SINCE THE DIGITAL ASSETS ARE VOLATILE IN NATURE, THEY CARRY SUBSTANTIAL RISKS AND THERE IS A POSSIBILITY THAT YOU MAY LOSE MONEY WHILE DEALING AND INVESTING IN THE DIGITAL ASSETS. BEFORE INVESTING OR DEALING IN THE DIGITAL ASSETS YOU SHOULD CONDUCT PROPER RESEARCH OF THE DIGITAL ASSETS AS EACH DIGITAL ASSET HAVE THEIR OWN UNIQUE FEATURES.
24.2. YOU UNDERSTAND THAT THE INFORMATION SHARED ON OUR WEBSITE AND OUR PLATFORM IS NOT AN INVESTMENT ADVICE. ANY INFORMATION THAT IS SHARED TO YOU THROUGH OUR WEBSITE OR EMAILS AND/OR THROUGH ANY OTHER MEANS OF COMMUNICATION IS FOR GENERAL INFORMATION PURPOSES ONLY. WE DON NOT PROVIDE ANY LEGAL, INVESTMENT OR TAX ADVICE TO ANY OF OUR USERS AND YOU SHALL SOLELY BE RESPONSIBLE FOR DETREMINING WHETHER THE INVESTMENT STRATEGY RELATED TO ANY TRANSACTION IS BENEFICIAL FOR YOU OR NOT, DEPENDING ON YOUR OBJECTIVES AND RISK TOLERANCE. YOU FURTHER UNDERSTAND THAT THE INFORMATION WE SHARE SHALL NOT BE TREATED BY YOU AS A RECOMMENDATION/ SUGGESTION OR AS AN ENCOURAGEMENT TO SOLICIT TO BUY AND SELL OR HOLD ANY DIGITAL ASSETS AND ENGAGE IN ANY SORT OF TRADING STRATEGY OR ACTIVITY. YOU MAY TAKE CONSULTATION FROM YOUR FINANCIAL ADVISOR OR YOUR TAX OR LEGAL PROFESSIONAL WHO CAN GUIDE YOU IN TAKING FINANCIAL DECISSIONS AND THEREBY CARFULLY LOOKING INTO YOUR FINANCIAL CONDITION, CAN SUGGEST YOU TO EITHER TRADE OR NOT TRADE IN DIGITAL ASSETS.
24.3. PLEASE CAREFULY NOTE THAT WE DO NOT PROMISE OR PROVIDE ANY INSURANCE ON COVER FOR THE LOSSES SUFFERED BY YOU WHILE TRADING IN DIGITAL ASSETS ON OUR PLATFORM.
VISIION has established a Dispute Resolution and Complaint Handling Policy to address and resolve client grievances. All complaints should be directed to VISIION's Customer Support at [email protected]. Upon receipt, complaints are recorded and complainants are asked to complete a form. VISIION commits to impartially investigate complaints, ensuring those involved in the complaint's subject aren't handling it. If another entity is deemed responsible, with the complainant's consent, the complaint may be referred to them. VISIION aims to resolve complaints within 30 days, informing the complainant of the outcome and any redress terms. If unsatisfied, complainants are advised of other resolution avenues, including external schemes, arbitration. All complaints are recorded in the Register of Complaints, maintained for a minimum of eight years
