Escrow my Bits Terms of Service
Version 1.0

Welcome to Escrow my Bits, (“EMB”) the online escrow service provider for regular and multi-signature cryptocurrency transactions. Escrow my Bits uses cryptocurrency transactions and multi-signature services to allow users to enter into an agreement (such as online commerce) with any other user, and to make sure that if the transaction fails, a selected third party ('judge') will be able to withhold payment. This intermediary trust service will add certainty to your online financial transactions. EMB Gives users the confidence to proceed with Online Purchases and virtual currency transactions by maintaining escrow of funds on your behalf. EMB provides the capabilities to support Online Escrow Services, while we do not guarantee the quality of any online purchases or judgements, we do ensure quick, secure, and accurate completion of financial transactions once any disputes are resolved. Escrow my Bits does not guarantee the quality or fairness of the judges on our site, however the site will provide users with tools to publicly rate and review judges. Escrow my Bits shall not be liable for any damage or loss of property. “YOU” (You is defined as a User of the Escrow My Bits Web Site and Services.) agree, you will not use Escrow my Bits for any illegal or fraudulent transactions or agreements. Fraudulent or any illegal transactions, whether made intentionally or not, with the knowledge of illegality or not, shall be null and void. EMB will not hold any funds or property for any entity nor knowingly have any associations or dealings with illegal or fraudulent activity, people, or companies representing such illegal activities. The Following are EMB's Terms of Service: 1. Registration & Eligibility: By signing up to the Escrow my Bits service, you hereby acknowledge and accept these terms and agree to be bound by them. In order to use the Escrow my Bits service you will be required to maintain your account details securely and adhere to Escrow my Bits' terms of eligibility. Please note that even if you do not register and do not provide any identifying means to Escrow my Bits, you must comply with these eligibility terms. 1. Creating a User Account: In order to use the Services, you will be required to set up a user account, this account may be used to either participate in transactions or adjudicate transactions. 2. Eligibility: You hereby affirm that you comply with the EMB eligibility Terms. If you are operating on a behalf of a corporation, you affirm that all employees of the corporation who are users of the Service adhere to these terms as well. 2.A) Adult: You are over 18 years of age, or if you are a corporation, the corporation is legitimate, solvent, registered, and legally capable of entering into this Agreement. 2.B) Residence: You do not reside in any State or Municipality where the use of Escrow Services or Virtual Currency Transactions are prohibited. 2.C) Solvent: You are solvent and are not currently bankrupt, or involved in a liquidation or debt arrangement and otherwise have not lost your ability to commit to these terms. 2.D) Authorized: If you are acting on behalf of a corporation, then you certify that you are authorized to enter into these terms on behalf of said corporation. 3. Authentication: If you choose to register to the Services, Escrow my Bits shall authenticate your identity using services at their disposal, and may request additional authentication. Please note that for most services, identity verification may not be required. 4. Security and integrity of account: Due to the sensitivity of information stored on your behalf and the potential risk of loss of revenues or virtual property, you may be required to store and be able to retrieve and supply back to EMB a secret key provided to you from Escrow my Bits. Please keep in mind that Escrow my Bits strongly encourages the use of strong account protection and that using the same account for more than one user or in more than one website is considered a bad practice. Please note that if you receive a private key or secret key from Escrow my Bits, you must keep it safe and available, as there will be no other way to access your account. You Acknowledge that sharing your EMB secret or private key will give others access to your funds and will make your transaction insecure. 4.A) Sharing your login data: You are specifically prohibited from sharing your secret key and/or private keys with any 3rd party. Your public key can be shared freely with any 3rd parties. 4.B) Notification: a. You are required to inform Escrow my Bits, immediately, in any case where you believe that your account was breached and in any case in which you are aware of any unauthorized use of any Escrow my Bits account. b. You are required to Inform EMB immediately if your private or secret keys have been compromised or stolen. 4.C) Escrow my Bits' Liability: Escrow my Bits shall not be liable in any case where you did not adhere to our published security guidelines and will not be able to assist you if you ignore and not comply with Escrow my Bits' documented best practices. 2. Sending or Receiving cryptocurrencies: Escrow my Bits may allow you to utilize the Multi-Signature feature in some cryptocurrencies in order to send or receive cryptocurrency; however, these transactions are between you and the transacting party, and Escrow my Bits is not a party to such transaction. In such case, you and the other party to the transaction may choose to select a judge from the list of Judges on the Escrow my Bits website and appoint him/her as the Judge in case of a dispute. In turn, all the parties to the transaction shall enter their public (or private) keys and/or secret keys as required to complete agreed to transactions. Once the terms of the transaction are finalized, and the transaction is executed, the cryptocurrency shall be released by the consent of 2 out of 3 from the selling party, the receiving party and the Judge or in the case of a transaction that does not utilize the Multi-Signature feature the cryptocurrency shall be released by Escrow my Bits or the selected Judge. If any dispute arises, then the Judge's ruling shall be final unless an appeal is filed prior to the end of a 3(three) day period starting from the time the Judge makes a ruling. Should an appeal be filed, the filing party will be required to make a small deposit that is equal to a small percentage of the transaction. The percentage will be decided on a case by case basis and once set cannot be changed. Appeal rulings are final. Depending on the ruling, either a refund to the filing party will be made for the deposit, or the deposit from the filing party will be kept. 3. Listing as a Judge: You may list yourself as a Judge for any transaction,. However, please note that in the following cases, you cannot act as a Judge: (i) in any case of conflict of interest and/or have any personal or professional relation with any of the transacting parties; (ii) if you cannot provide unbiased Judgement due to any of your personal beliefs; (iii) if you are personally interested in the result of the conflict or appeal and/or could benefit personally from the outcome of the transaction. As a Judge in an EMB transaction, You are solely responsible for laying out the terms of any Judgement you manage and making sure both parties have agreed to them in writing and there is no disagreement. 4. Solely Legal Transactions: You may only use Escrow my Bits' services for legal and ethical transactions. While Escrow my Bits may monitor your transactions, you are fully responsible for and specifically prohibited from entering into any transaction which (i) involves the sale of illegal goods and/or services such as illegal/prohibited firearms or munitions, child pornography, illicit drugs, violent material or trafficking in women; (ii) involves the infringement of 3rd party rights, such as copyright and the right for privacy; (iii) involves illegal gambling or any other sort of financial fraudulent activity such as trading in binary options, pyramid schemes, multilevel marketing or similar activity; (iv) misleads consumers; (v) sells any pharmaceutical drugs without prescription or sells any homeopathic, "magic", or other non-clinically proven medicine; (vi) involves trade with users or entities that are illegal according to, or specifically forbidden by New Jersey State, or USA Federal Laws and policies; (vii) is related to the funding of any terrorist or criminal organizations (as per USA, UN, and EU official lists) or their members or representatives. 5. Fees: For its services, Escrow my Bits may charge fees, as it sets forth from time to time. Such fees may be deducted in source from any transaction, or be paid separately. For example, Escrow my Bits may charge registration fees from Judges to authenticate their identity and to validate their wallets or charge you to review or post reviews for any Judges. As the payments are for services provided, they are non-refundable. 1. Contribution & Product Policy: When posting content through the services and when selling products or services through the service, you hereby accept and agree to adhere to this policy. Please keep in mind that this policy applies both to virtual and physical goods and services you sell using EMB services. 1. Contribution Policy: By providing Escrow my Bits with digital media (e.g. – text, audio, graphic, etc.) or by using Escrow my Bits' Services to create any digital media, you hereby accept Escrow my Bits Contribution Policy as set forth. 2. You acknowledge that any violation of the Contribution Policy may cause termination of Your Service, removal of Your content or contribution and potential legal action by both Escrow my Bits and the person whose rights were infringed. 3. For the purpose of this Policy, the term Contribution shall refer to: (i) digital media such as images, audio and/or text used to create user generated content, judgement listings, and/or reviews; (ii) media retrieved from 3rd parties in such postings; (iii) description, text and information processed through the EMB Service; (iv) submissions made through Service. 3.A) Copyright License: You hereby grant Escrow my Bits an irrevocable, permanent, unlimited, worldwide, multi-dimensional, multi-universal, royalty-free, sub-licensable, non-exclusive license to use Your Contribution and to allow users to view Your Contributions according to the functionality of the Service and through other 3rd party services, including the creation of derivative works and the creation of three dimensional works. 3.B) Model Release: You hereby grant Escrow my Bits the permission to use and display Your Contribution and Your Name, Username, Nickname, or other moniker in order to endorse Escrow my Bits. 3.C) Offensive Content: You hereby warrant that Your Contributions are not offensive and do not infringe the right of any 3rd party, including, but not limited to: 3.C.1. Intellectual Property: Your Contribution does not infringe any 3rd party copyright, design, patent, trademark, trade secrets or any other intellectual property rights. 3.C.2. Pornography: Your Contribution does not contain any text, image or depiction including nudity, profanity, sexual activity, sexual innuendos, sexually offensive or otherwise obscene media. 3.C.3. Slanderous: Your Contribution does not slander, defame or otherwise harm the good name of others. 3.C.4. Hate Speech and Racist: Your Contribution does not include any hate speech or racist opinions, and does not incite others for violent acts against persons solely in regards to their inclusion of a specific groups. 3.C.5. Scams: Your Contribution is not used to initiate any scam, illegal market manipulation, pyramid scheme, phishing or otherwise any use which may be used to extract goods and/or money from others, including any virtual property. 3.C.6. Contribution Warranty: REGARDLESS OF BEST EFFORTS, WE MAKE NO WARRANTY THAT THE SERVICES WILL BE UNINTERRUPTED, TIMELY OR ERROR-FREE, OR THAT DEFECTS WILL BE CORRECTED. You hereby warrant that You are either the sole proprietor or a designated licensee of any Contribution You publish through the service and that no other party's rights are infringed or violated by using your Contributions and Service. You moreover warrant that that no legal claim, dispute or lawsuit was filed against You or threatened against You for publishing your Contribution. 3.C.7. Sale of Products and Services: When you sell products through the Escrow my Bits marketplaces, you hereby warrant that (i) you are authorized to sell such products and obtained all relevant permissions; (ii) your sale of the products shall not infringe on the rights of any 3rd party, including trademarks, trade secrets, copyrights or other intellectual property rights; (iii) you shall adhere to all relevant State, Federal, and International regulations regarding the sale of products. 3.D) Notice and Takedown Mechanism: In order to protect Your rights, Escrow my Bits has set up this Notice and Takedown Mechanism to help You protect Your Contributions and to ensure that no unauthorized use is made. 3.D.1. Prescreen and Moderation: You acknowledge that Escrow my Bits cannot pre-screen all Contributions, but that it shall have the right (but not the obligation) in their sole discretion to refuse or remove any Contribution or User Account that is available via the Service. Escrow my Bits shall have the right to remove any Contribution or User Account that violates these Terms of Service or is otherwise found to be objectionable. 3.D.2. Disclosure of Content: You acknowledge and agree that Escrow my Bits may preserve Contributions and EMB may also disclose Contributions if required to do so by law or may disclose in the good faith belief that such preservation or disclosure is reasonably necessary to: (a) comply with legal process; (b) enforce these Terms of Service; (c) respond to claims that any Contribution violates the rights of third-parties; or (d) protect the rights, property, or personal safety of Escrow my Bits, its Users, and the public. You understand that the technical processing and transmission of the Service, including your Contribution, may involve (a) transmissions over various networks and (b) changes to conform and adapt to technical requirements of connecting networks or devices. 3.D.3. Harmless: You agree and warrant to hold Escrow my Bits and Users harmless and to fully indemnify Escrow my Bits or Users for any claim of copyright infringement, trademark dilution or patent infringement for any use of Contribution according to these Terms of Service. You also agree to indemnify Escrow my Bits and/or their Users for any 3rd party lawsuit for Copyright infringement due to their use of Contributions made available by You. 3.D.4. Cease and Desist: Escrow my Bits values others and your rights, and therefore shall comply with all New Jersey state and USA Federal, and USA Recognized International regulations regarding 3rd party rights. Should you encounter any Contribution which you believe to be in violation of any of Your rights, good name or copyrights, Please file an infringement complaint to our Content officer: [email protected] with the subject line being “Cease and Desist”; Escrow my Bits' Content officer shall examine your complaint and may forward it to the user who published said Contribution for his answer, if possible. Should your complaint be false, harassing or in designed to prevent legal use of the EMB Service, you shall bear all liability to compensate the user which you reported as infringing and/or Escrow my Bits. In your complaint you will be required to inform us with: (i) a written statement regarding which Contribution(s) infringes your rights and proof that You hold those rights; (ii) what is the exact URL of the Contribution; (iii) notification that you believe that the use made by the Contribution is not considered fair-use, criticism, consumer protest or any other protected speech. 3.D.5. Moderation: Pursuant to any Cease and Desist notification, Escrow my Bits will moderate the Content and review your request; Escrow my Bits may notify the User who posted the disputed Content, including Your information and may request his response. 3.D.6. Removal or Restoration: Should the User who posted the disputed content fail to respond within 72 hours, Escrow my Bits will remove the Content within a 72 hour period; if the contacted user responds, Escrow my Bits will evaluate their response and if any material questions of fact or law arise, Escrow my Bits may forward the user’s contact information directly to You so you may directly manage Your complaint. 3.E) Indemnification: You hereby warrant and agree to hold Escrow my Bits harmless and to indemnify Escrow my Bits for any damage, loss, expense, legal expense or cost incurred as a result of (i) Your posting of any Contribution in direct violation of Escrow my Bits Contribution Policy, including any false representation; OR (ii) any claim, complaint or notification filed maliciously or negligently against any User where no such claim had any legal standing. 6. Privacy Policy: Escrow my Bits values your privacy, and therefore has set up this privacy policy to inform you of your rights. Please take into consideration that Escrow my Bits may disclose some information to 3rd parties as a part of its services, and will obey local regulations if required by law. 1. What Personal Information Does Escrow my Bits retain? Escrow my Bits may retain personal information you provide such as your name, email address, your previous transactions, feedback and any other information either provided by you or was provided by other users. Escrow my Bits also retains your IP address, messages sent between parties, carrier tracking numbers, public cryptocurrency addresses, and Public keys. 2. What Non-Personal Information Does Escrow my Bits retain? Escrow my Bits may retain some non-personal information, which may be used by the service, such as your approximate geolocation, your transactions, the pages you visited, your browser version, the time pages were visited, the length of time the pages were viewed and operating system version. 3. Who Has Access To Your Information? Apart from Escrow my Bits' employees and agents, who are under strict confidentiality obligations, Escrow my Bits may provide information to other users when you transact with them and also may provide information to the relevant cryptocurrency blockchains. Moreover, if Escrow my Bits is required by a competent and recognized law enforcement agency to disclose information according to a court order or other legal obligation, it shall do so. 4. How Is Your Information Processed? Escrow my Bits uses your personal information to provide you with the services, and may use your personal information to improve the service and test additional features. 5. How Is The Information Secured? Escrow my Bits uses industry grade security services to secure your information, such security includes secure secret key hashing and routine checks and backups. EMB will not be help liable for Unforseen, and/or unpublished limitations or errors in current security practices and technologies in use by EMB that may compromise the security of your data. 6. How Can You Review Your Information? You may use the service to view your profile and review the information stored about you. 7. How can you terminate your account? You can always request to terminate your account and remove your personally identifiable personal information. Keep in mind that if Escrow my Bits is required by law to retain this information for audit and financial reasons, it must keep it. 8. Liability: LIMITATION OF LIABILITY. DISCLAIMER OF CONSEQUENTIAL AND SPECIAL DAMAGES. TO THE MAXIMUM EXTENT PERMITTED BY LAW, EXCEPT WITH RESPECT TO ANY GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, INDEMNIFICATION OBLIGATIONS UNDER THIS AGREEMENT, OR ANY BREACHES OF CONFIDENTIALITY OBLIGATIONS, NEITHER PARTY NOR ANY RELATED ENTITY THEREOF SHALL BE LIABLE TO THE OTHER PARTY, ANY RELATED ENTITY THEREOF OR ANY OTHER THIRD PERSON UNDER THIS AGREEMENT FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, OR ANY LOSS OF PROFITS, REVENUE, DATA USE, OR ROYALTIES, WHETHER LIABILITY IS ASSERTED IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT PRODUCT LIABILITY) OR CONTRIBUTION, AND IRRESPECTIVE OF WHETHER SUCH PARTY OR ANY OF ITS RELATED ENTITIES HAS BEEN ADVISED OF THE POSSIBILITY OF ANY SUCH LOSS OR DAMAGE. 1. LIABILITY CAP. TO THE MAXIMUM EXTENT PERMITTED BY LAW, EXCEPT WITH RESPECT TO ANY FRAUD, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, INDEMNIFICATION OBLIGATIONS UNDER THIS AGREEMENT, ANY BREACHES OF CONFIDENTIALITY OBLIGATIONS (UNLESS INADVERTENT, INCIDENTAL AND NON-RECURRING AFTER NOTICE OF SUCH BREACH HAS BEEN RECEIVED) UNDER THIS AGREEMENT, EMB’s AND EMB RELATED ENTITIES', AND CUSTOMER'S AND THE CUSTOMER RELATED ENTITIES' AGGREGATE LIABILITY FOR ANY AND ALL CLAIMS ARISING IN CONNECTION WITH THIS AGREEMENT SHALL NOT EXCEED THE AGGREGATE AMOUNT OF FEES ACTUALLY PAID TO EMB BY USER UNDER THESE TERMS ("MAXIMUM LIABILITY"). THE MAXIMUM LIABILITY SHALL APPLY REGARDLESS OF WHETHER ANY REMEDY UNDER THIS AGREEMENT FAILS OF ITS ESSENTIAL PURPOSE. 2. Escrow my Bits provides Service on an AS-IS basis and shall not be held liable, to the extent permitted by law, by any case of misconduct, negligence, gross negligence, malice or any other mean, for damages to: your credit on the Escrow my Bits service, virtual property, reputation and business reputation, user account information including login information, loss of profit, loss of good name, all resulting from the use or inability to use Escrow my Bits services. 3. Warranty: Escrow my Bits does not warrant for Service and supplies it on an “as-is” and “as-available” basis. Your Use of Service is at your own risk and under your liability. Escrow my Bits makes no warranty that (i) the Service will meet your requirements and (ii) the Service will be uninterrupted, timely, secure, or error-free and (iii) the results that may be obtained from the Use of the Service will be accurate or reliable and (iv) the quality of any products, services, information, or other material purchased or obtained by You through Service will meet your expectations, or (v) any errors in the Service will be corrected. Moreover, you hereby acknowledge that the Service is in early development stage and that it is currently under development. You acknowledge and accept that the Service may be flawed and that some errors may occur which may lead to the loss of funds. Use of the service until revisions of these Terms are at your own risk. 9. Indemnification: You hereby warrant and agree to hold Escrow my Bits harmless and to indemnify Escrow my Bits for any damage, loss, expense, legal expense or cost incurred as a result of (i) Your use of the Services in direct violation of these terms of service, including any false representation; OR (ii) any claim, complaint or notification filed maliciously or negligently against any Escrow my Bits user where no such claim had any legal standing. 10. Availability: Escrow my Bits may disable the Escrow my Bits service from time to time for backups, maintenance or upgrades. In some extreme cases, where urgent maintenance is required, Escrow my Bits may disable the service immediately and without notice. 11. Support: Currently, and due to the early stage of the Escrow my Bits service, support is only provided by Electronic mail (email) and during regular business hours at [email protected] 12. Amending these Terms: Escrow my Bits may amend these terms from time to time without any prior notice. Continued use of the service after amending these terms hereby acts as the party agreeing to these terms. 13. Terminating User Accounts: Escrow my Bits retains the right to terminate your use of the Escrow my Bits service or to terminate the Escrow my Bits service at any time. However, Escrow my Bits may terminate your use of the Escrow my Bits service at any time and with no prior written notice in any case where you have breached these terms. You may terminate your account at any time, but please note that in such case, your virtual property held in any cryptocurrency wallet may expire or be lost. 14. Severability: In the event that any provision of this Agreement conflicts with the law under which this Agreement is to be construed or if any such provision is held invalid or unenforceable by a court with jurisdiction over the Parties, such provision shall be deemed to be restated to reflect as nearly as possible the original intentions of the Parties in accordance with applicable law. The remaining provisions of these terms and the application of the challenged provision to persons or circumstances other than those as to which it is invalid or unenforceable shall not be affected thereby, and each such provision shall be valid and enforceable to the full extent permitted by applicable law. 15. Governing Law, Jurisdiction: These terms shall be solely governed by the laws of the United States of America and any dispute arising from it shall be solely brought to the competent courts of the Monmouth County, NJ district. You hereby warrant and undertake not to initiate any class action lawsuit against Escrow my Bits, any merchant or user of the service, for any cause and to solely seek your own damages.