Rules, Risks and Provisions
UMI Exchange Rules, Risks and Provisions
Last Updated: 27.08.2025
1. Acceptance of Terms
These Rules, Risks and Provisions (hereinafter referred to as the "Rules") constitute a legally binding agreement between you (hereinafter referred to as the "User") and UMI Products LLC (Blake Building, Corner Hutson and Eyre Street, Suite 302, BELIZE CITY, Belize), the owner of the UMI Exchange platform. By using the Platform, you confirm that you have read, understood, and agree to comply with these Rules, the Privacy Policy, and the Disclaimer.
2. Registration and Account
- Registration with a valid email address is required to use the core functions of the Platform.
- Creating more than one account is prohibited.
- You are responsible for the security of your account credentials.
- You confirm that you are at least 18 years old and that the use of the Platform is not prohibited by the laws of your jurisdiction.
3. Prohibited Jurisdictions and Actions
The use of the Platform is strictly prohibited for citizens, residents, or tax residents of the following jurisdictions: the United States. The Administration reserves the right to restrict access from other countries where the Platform's activities may be restricted by law ("Prohibited Jurisdictions").
Prohibited actions include, but are not limited to:
- Fraud, money laundering, terrorist financing.
- Use of the platform for commercial purposes without explicit consent.
- Attempts to bypass the Platform's security, use of malware.
- Disrupting the operation of the Platform.
- Infringement of intellectual property rights.
- Disrespectful communication with other users or the administration.
4. Trading Rules (P2P and Exchange)
- General Provisions: All transactions are conducted between Users. UMI Exchange acts solely as a technology provider and is not a party to the transaction.
- P2P Transaction Process:
- 1. Creating an order (buy/sell) specifying the conditions.
- 2. Acceptance of the order by the counterparty. The Seller's assets are placed in escrow.
- 3. The Buyer transfers the fiat funds to the Seller's provided details.
- 4. The Seller confirms receipt of payment.
- 5. UMI Exchange releases the digital assets and transfers them to the Buyer.
- Buyer's Responsibilities: Make payment in full and within the timeframe specified in the order. The Buyer bears all payment system fees.
- Seller's Responsibilities: Have the necessary amount of the asset, confirm receipt of payment in a timely manner.
- Order Cancellation: Cancellation is possible until the Seller confirms receipt of payment.
- Arbitration: Disputes between users are resolved by the Platform's arbitrators. The arbitrator's decision is final.
5. Fees
UMI Exchange reserves the right to charge fees for the use of its Services. Current fee rates are published on the Platform. Fees may be changed unilaterally.
6. User Rating
The Platform operates a user rating system based on successful transactions and feedback. A low rating may lead to restricted functionality or account blocking.
7. Asset Listing and Delisting
UMI Exchange reserves the right to add (list) or remove (delist) any digital assets from the Platform at any time without prior notice. The User is obliged to independently monitor the news and withdraw assets subject to delisting.
8. Risk Notice. LIMITATION OF LIABILITY
WARNING: THE USE OF CRYPTOCURRENCIES AND A TRADING PLATFORM IS ASSOCIATED WITH HIGH RISK.
- Volatility: Prices of digital assets are extremely volatile and can drop to zero. You may lose all invested funds.
- Technological Risks: There are risks associated with network attacks, software errors, and loss of access to your wallet.
- Regulatory Risks: Legislation in the field of digital assets is changing rapidly and may adversely affect the use of the Platform.
- No Warranty: The Platform is provided "as is" and "as available". We do not provide any profitability guarantees.
- Limitation of Liability: Except as expressly provided by law, UMI Exchange, its owners, and employees shall NOT BE LIABLE for any direct, indirect, incidental, special, consequential damages, lost profits, or data loss arising from the use or inability to use the Platform, even if we have been advised of the possibility of such damages.
9. Fraud and Account Blocking
If fraud, violation of these Rules, or legal requirements is suspected, UMI Exchange reserves the right to:
- Block the account (temporarily or permanently).
- Freeze or confiscate assets in the account for investigation or by decision of authorized bodies.
- Disclose your information to competent authorities.
10. Intellectual Property
All rights to the content, design, source code, and trademarks of the Platform belong to UMI Exchange or its licensors. Any copying or use without prior written permission is prohibited.
11. Governing Law and Arbitration
These Rules are governed by the law of England. Any disputes shall be finally resolved by arbitration in Geneva, Switzerland, in accordance with the Rules of Arbitration of the International Chamber of Commerce (ICC).
