These Terms of Services constitute an agreement between You ("the Client") and MoneyRift, Inc. ("the Company"). These Terms of Service set forth the terms and conditions under which MoneyRift, Inc. provides its services including electronic access to the Client's account. It also defines the terms, conditions as well as Your and MoneyRift's obligations in regard to any transactions through MoneyRift's web-site.
- 1. General
1.1. The Client opens an account through the Company's web-site.
1.2. The Client deposits money in electronic currency (10 USD at least) and/or via bank transfer (1,000 USD at least) and invests it into investment plans offered by the Company, and the Company participates in Forex trading sessions on behalf and in favor of the Client.
1.3. The Company is not a broker, agent or advisor of the Client. The Company provides no consultations, advice or expert opinions in regard to Forex trade.
- 2. Account
2.1. The Client can open only one multi e-currency account in the system but he/she can create an unlimited number of investment plans, each having its pre-determined investment period.
- 3. Investment Terms and Conditions
3.1. The Client invests money into one or several investment plans.
3.2. The minimum for investing into a plan is 10 USD.
3.3. The Company can any time modify the investment plan conditions.
- 4. Money Depositing and Investing
4.1. Depositing of money to the Client's account is executed with e-currencies (Liberty Reserve) and/or bank transfer in accordance with the Client's Agreement.
4.2. All deposits are to be made in USD only. Deposits made in other currencies will be rejected.
4.3. Money depositing is made through MoneyRift account only. No direct transfers from e-currency accounts are allowed.
4.4. The Client can put any amount (at least 1 USD) to his/her Current Account but the minimum to open an investment plan is 10 USD.
- 5. Accrual and Payment of Interest
6.1. The Client receives the profit made to his/her Current Account.
6.2. The profit made can be withdrawn or reinvested into a new investment plan. The minimum for withdrawal is 1 USD for the accounts opened with any e-currency.
6.3. When the investment period of the plan expires, the invested amount goes to the Current Account and can be withdrawn or reinvested.
- 6. Reinvesting
7.1. The Client can reinvest the profit manually by investing the profit into new investment plans. The profit under the investment plans is accrued by a simple interest rate.
7.2. Reinvesting is made by opening new investment plans.
- 7. Money Withdrawal
8.1. The money will be withdrawn within 24 hours once the withdrawal request is made, except for weekends and holidays.
8.2. The minimum amount for withdrawal via e-currency is 1 USD.
8.3. The commission for e-currency transfer is paid by the Company (except for the bank transfer).
8.4. The minimum to withdraw from the accounts opened via bank transfer is 1,000 USD.
- 8. Early Withdrawal
- The Company's commission for early withdrawal is 12% from the initial amount minus the profits including, in case of combining, the profits made from the plans prior to their combining as well as afterwards. The early withdrawal to be requested by e-mailing the Company's Customer Support Department and will be executed within 5 working days.
- 9. Referral Commission
10.1. The Company pays a life-long referral commission equaling 7% of all amounts invested or reinvested by every referred client.
10.2. In case the referred client requests early withdrawal of the invested funds, the referral commission paid for the client is recalled and deducted from the Client's account.
10.3. The clients who used a referral link but who are not traced by the system as referrals will see a Referral ID field in their Registration Form. When such a client does not enter or enters incorrect referral ID, no claims in regard to the referral are accepted.
- 10. Company's Warranties and Representations
11.1. The Company warrants the safety of the invested amounts and accrued interest.
11.2. The Company warrants and represents that in the event of possible negative trading results its Safety Fund insures the Client's investment from any losses. No trading loss is deducted from the Client's investment or profit.
11.3. The Company guarantees all payments made in time and under the terms stipulated in this Agreement.
11.4. The Company guarantees early withdrawal of the invested money in accordance with the terms and conditions stipulated in this Agreement.
11.5. The Company is not anyhow associated with any electronic payment system and not liable for any default in their performance. In case of e-currency default, upon the Company's decision and relevant notification of the clients, the Client can request his/her investment (Deposit Account balance) to be switched to some other available payment method, including bank transfer in case the Client's account is validated for bank transfers and the investment exceeds 1,000 USD. The selection of a new payment option for the default e-currency is irreversible and cannot be repeated. Once the Client is switched to some other payment method, all profits are accrued and can be withdrawn with the latter. The funds on the Current Account balance accrued before the Company publishes its decision in regard to the e-currency and makes the notification, cannot be reinvested and can be withdrawn only through the e-currency they we accrued with, when the e-currency ever resumes its activity.
11.6. The Company guarantees any personal information of the Client will not be disclosed to any third parties except for the legitimate requests from the governmental authorities made in accordance with applicable law.
- 11. Client's Warranties and Representations
11.1. The Client represents and warrants that as to the moment of acceptance of this Agreement he/she is and as of the date of execution of any other contracts and transactions with the Company shall be:
a) of sound mind, at least 18 years of age and with full legal competence, if an individual;
b) if not an individual:
1) the Client is an organization duly incorporated and competent under the applicable legislation;
2) the person executing and performing this Agreement as well as other actions and obligations hereunder on behalf of the Client shall be duly authorized by the Client to perform the same.
11.2. By agreeing to these Terms of Service the Client represents that the services provided by the Company do not anyhow breach the law of his/her national jurisdiction.
11.3. The Client shall keep his/her account access information secret.
11.4. The Client shall independently monitor the transactions made through the account and inform the Company of any discrepancies or unlawful access.
- 12. Liability and Force Majeure
12.1. The Company shall not be responsible for delays in transmission of an order due to any reasons beyond its control. As the Company does not control signal power, data transmission and receipt via Internet, or configuration of the Client's computer equipment and reliability of its connection, the Company cannot be held responsible for any data communication failure, distortion or delay.
12.2. The Company is not liable for any default under this Agreement resulted from force majeure circumstances, including but not limited to military actions, wars, strikes, rebellions, natural disasters, governmental bans, any breakdown in normal communications or utilities infrastructure services, etc.
- 13. Amendments and Modifications
- This Agreement is subject to update and amendment (upon 2 day notice) as needed or as required by the Company. Any amendment or update to this agreement supersedes and nullifies the previous agreement in effect. The Client agrees that if the Client uses the Company's services after such notification of changes in this Agreement, the Client will be bound by all such changes. At the time of such modification, the Client will have the opportunity to reject such modification by closure of his/her account.
- 14. Governing Law and Dispute Resolution
14.1. This Agreement and all the terms herein shall be governed by and construed in accordance with Panama Corporate Law without giving effect to any conflict of law provisions.
14.2. All disputes arising from this Agreement shall be resolved by negotiating. If negotiations are no success, such disputes shall be settled in courts of Panama under Panamanian legislation.