Peermit Terms of Use

Please read these terms of service (“Terms”) carefully as they form a contract between you and (“Peermit”). These Terms govern your use of the Peermit “Service”, which refers individually and collectively to all written or electronic materials, data, text, audio video, images or other content (“Content”) and software made available through the website (“Site”). These Terms refer to the individual or entity using the Service (including any component of the Service) as “you”.

By using the Service, visiting the Site, or registering for an account with us, you are accepting and agreeing to these Terms, and the policies and guidelines referenced in these Terms. These Terms require the use of arbitration to resolve disputes on an individual basis, rather than jury trials or on resolution a collective basis.

Provided the User is using the Peermit as a business customer, i.e. for purposes of his or her trade, business or profession or on behalf of a public body or corporation, article § 312e paragraph 1, sentence 1, no. 1 - 3 of the German Civil Code does not apply.

Peermit may amend these Terms at any time by posting the revised Terms on the Site. Amended Terms take effect when posted to the Site, when Peermit gives such notice, or when you, or when you otherwise accept the amended Terms - whichever occurs first.

1. About Blockchains And The Peermit Service

1.1 Blockchain And Account Information.

The Service does not send or receive money and never has nor will every have access to the tokens associated with your account or the accounts itself.

As a service provider, Peermit enables you to secure your tokens against intrusion into your systems. A customer will have a secured account (“account”) that is associated with the email address provided by the user.

By using the Service, instructions concerning your account’s tokens require approval by at least two authorities of which Peermit will be only one. The other authority will be the customer himself. The Service will make use of so called Proposals that request to execute some instructions that affect your account’s tokens.

1.2 Proposal Procedure and Second-Factor-Authentication

In order to transfer tokens from your account, a proposal has to be created that instruct a transfer and the Service as well as the customer have to manually approve.

Peermit’s approval solely depends on successful verification of the proposers identity by means of Second-Factor-Authentication (2FA), e.g. a link in an email sent to the owner of the account.

Once the blockchain network recognizes the proposal and the required approvals from the Service and the customer are validated, the instructions are executed. Neither other individuals or companies in the network nor the Service cannot be used by you to cancel or reverse these instructions.

The account is under sole control of the customer such that access to the tokens is granted by removing the requirement of the Service’s approval. Hence, customers can freely opt-out of the Service. It is the customer’s responsibility to secure the so cryptographic owner private key properly and verify the instruction of proposal before approval.

1.3 Key Management.

Key Management distinguishes

Peermit does not control full or partial access to your account’s owner authority.

Peermit controls only one of the active authorities required to access your account’s tokens.

You are solely responsible for maintaining the security of the other private keys associated with the spending permission and account owner permission. In the event you appoint a third party to control one or more of your private key(s), whether or not such appointment is made through the Service (e.g, through a key recovery service), Peermit is not responsible for the action or inaction of such third party.

1.4 Your Account.

Your individual accounts are your property and your responsibility. Peermit cannot make transactions using your accounts except in conjunction with a request or command through the Service. You can opt-out from the service and keep your account by removing Peermit authority from your permissions.

1.5 Third Party Applications.

If you grant express permission for a third party to connect to your Peermit Service account, either through the third party’s product or through the Service, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under these Terms. Further, you acknowledge and agree that you will not hold Peermit responsible for, and will indemnify Peermit from, any liability arising from the actions or omissions of this third party in connection with the permissions you grant. You may change or remove these permissions from the account settings page.

1.6 Taxes.

It is your responsibility to determine what, if any, taxes apply to any transactions you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. Peermit is not responsible for determining whether taxes apply to your transactions, or for collecting, reporting or remitting any taxes arising from any transactions.

1.6 Risks.

Peermit has no control over, and makes no representations regarding the value of your tokens, or the security of the blockchain network. The value of your tokens can change rapidly, increase or decrease unexpectedly, and potentially even fall to zero.

You acknowledge that participation in the blockchain network involves risk.

A proposal may be unapproved by the Service for a period of time (usually less than a few minutes, but up to three business days).

2. Use of The Service

2.1. Your Privacy.

Please review our privacy policy located at (“Privacy Policy”) to understand our commitments in maintaining your privacy. You agree to the collection, use and disclosure of information as described in Privacy Policy.

2.2 Account Communications.

We may send you emails regarding the Service including notices, updates, and amended Terms. We may also send you emails with promotional information and materials regarding Peermit’s products and services.

2.3 Suspension and Termination.

We reserve the right, to temporarily suspend or terminate your access to the Service at any time in our sole discretion, with or without cause, and with or without notice, without incurring liability of any kind. For example, we may suspend or terminate your access to or use of the Service for: (a) the actual or suspected violation of these Terms; (b) the use of the Service in a manner that may cause Peermit to have legal liability or disrupt others’ use of the Service; (c) scheduled downtime and recurring downtime, or unplanned technical problems and outages.

2.4 Unacceptable Use.

You will not, nor encourage or assist any third party to, (a) use any unauthorized means to gain access to the Service or use any automated process or service (such as a bot, a spider, or periodic caching of information stored by Peermit) to access or use the Service, or distribute instructions, software or tools for that purpose; (b) modify, alter, tamper with, repair or otherwise create derivative works of the Service; (c) interfere with or disrupt servers or networks used by Peermit to provide the Service; (d) damage, disable, overburden, or impair the Service (or any network connected to the Service); (e) use the account of another user at any time except by a mechanism provided by Peermit and authorized by such user; (f) use the Service to use the Service in any manner or for any purpose other than as expressly permitted by these Terms, the Privacy Policy, any Peermit user guides and policies available via the Service (“Policies”); (g) engage in any unlawful or fraudulent activity or perpetrate a hoax or engage in phishing schemes or forgery or other similar falsification or manipulation of data; (h) send unsolicited or unauthorized junk mail, spam, chain letters, pyramid schemes or any other form of duplicative or unsolicited messages, whether commercial or otherwise; or (i) advertise or promote a commercial product unless your account is subject to a separate contract governing that relationship and your compensation to Peermit. Peermit may determine, in its sole discretion, whether and what action to take in response to a claimed violation of these Terms, and any action or inaction in a particular instance will not dictate or limit our response to a future complaint.

2.5 Product Updates.

Peermit may, in its sole discretion, make unscheduled deployments of changes, updates or enhancements to the Service at any time. We may add or remove functionalities or features, and we may discontinue the Service altogether.

2.6 License and Restrictions.

Peermit grants you a personal, non-transferable, non-exclusive license to use the Service as provided to you by Peermit. This license is conditioned upon and restricted by the terms, conditions and restrictions in these Terms. Further, this license is for personal and non-commercial use. You may not (and you may not permit anyone else to) copy, modify, create a derivative work of, reverse engineer, decompile or otherwise attempt to extract the source code of the Service, or any part thereof, except (and solely) to the extent permitted by applicable law. You may not assign (or grant a sub-license of) your rights to use the Service, grant an interest in or over your rights to use the Service, or otherwise transfer any part of your rights under these Terms. If Peermit provided you access to any of the Service (for example, a mobile app) in return for a fee, this license is conditioned on your payment of the fees due. These Terms do not grant to you any license or permission to copy, distribute, modify or otherwise use any application programming interface, notwithstanding any provision to the contrary. No title to or ownership of any proprietary rights related to the Service is transferred to you pursuant to these Terms. All rights not explicitly granted to you are reserved by Peermit.

2.7 Peermit Trademarks and Feedback.

The following trademarks, service marks, logos and slogans are trademarks of Peermit or its subsidiaries (the “Peermit Marks”): “Peermit”. Peermit grants you no license or consent to use or display or use in any manner the Peermit Marks. In the event that you provide comments, suggestions and recommendations to Peermit with respect to the Service (including modifications, enhancements, improvements and other changes to the Service) (collectively, “Feedback”), you hereby grant to Peermit a world-wide, royalty free, irrevocable, perpetual license to use and otherwise incorporate any Feedback in connection with the Service and any updates, extensions or successive versions of the Service

3. User Content

3.1 Your Content

You are responsible for the Content that you provide or make available via the Service (“User Content”), or that other users provide or make available. Peermit will have no liability of any kind as a result of the deletion of, correction of, destruction of, damage to, loss of or failure to store or encrypt any User Content. If your access to the Service is suspended or terminated, you will not have access to the User Content.

3.2 Sharing of Content

If you enable the features that allow you to share User Content with others, anyone you’ve shared User Content with (including the general public, in certain circumstances) may have access to your User Content.

3.3 License

You hereby grant Peermit and its contractors the right, to use, modify, adapt, reproduce, distribute, transmit, display and disclose User Content as reasonably necessary to provide the Service or as otherwise permitted by these Terms. You represent and warrant that: (a) you have all the rights in the User Content that you provide necessary for you to use the Service and to grant the rights in these Terms; and (b) the storage, use, display, reproduction, distribution, modification, adaptation or transmission of such User Content doesn’t violate any law or these Terms.

3.4 Responsibility

You will: (a) be solely responsible for the nature, quality and accuracy of the User Content; (b) ensure that the User Content (including the storage or transmission thereof) complies with these Terms and any and all applicable laws, and regulations; (c) promptly handle and resolve any notices and claims relating to the User Content, including any notices sent to you by any person claiming that any User Content violates any person’s rights, such as take-down notices pursuant to the Digital Millennium Copyright Act and any other notices; and (d) maintain appropriate security, protection and backup copies of the User Content, which may include, your use of additional encryption technology to protect the User Content from unauthorized access.

3.5 Global Storage

You understand and consent to the storage and processing of User Content and any other personal information in Germany. Peermit reserves the right to store and process personal information outside of Germany.

4. Other Terms

4.1 Entire Agreement.

These Terms, including the Privacy Policy and other terms, policies and guidelines incorporated by reference, constitute the entire agreement between you and Peermit and govern your use of the Service, superseding any prior agreements between you and Peermit with respect to the Service.

4.2 Statute of Limitations.

Regardless of any statute or law to the contrary, any claim or cause of action arising out of a breach of these Terms or your use of the Service must be filed within one (1) year after such claim or cause of action arose or be forever barred. This limitation will not apply to misappropriation or infringement of intellectual property rights.

4.3 Independent Contractors; No third-party beneficiaries; Assignment.

Peermit and you are not legal partners or agents of each other; instead, our relationship is that of independent contractors. This contract is solely for your and our benefit. It is not for the benefit of any other person, except for permitted successors. You may not assign or delegate these Terms, your obligations, rights or responsibilities. Any attempt by you to do so is void. Peermit may assign or delegate these Terms, its obligations, rights and responsibilities, in whole or in part, at any time with or without notice to you.

4.4 Savings Clause.

If any provision of these Terms is found by a court of competent jurisdiction or arbitrator to be invalid or unenforceable, the parties agree that the court or arbitrator should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms remain in full force and effect. If the court or arbitrator cannot do so, then the parties agree that the court or arbitrator should strike the invalid or unenforceable provisions, and that the remaining provisions be given their full force and effect.

4.6 Company Use.

If you are using the Service on behalf of an organization, you are agreeing to these Terms for that organization and promising to Peermit that you have the authority to bind that organization to these Terms (in which event, “you” and “your” will refer to that organization). Nevertheless, each individual that uses the Service or accepts these Terms on behalf of an organization agrees that the permissions given to Peermit under these Terms, and the restrictions and limitations to the rights of persons and entities using the Service, apply to each such individual. You may use the Service only in compliance with these Terms and only if you have the power to form a contract with Peermit and are not barred under any applicable laws from doing so.

5.7 Interpretation.

The section titles in these Terms and summary descriptions (labeled “English”) are for convenience only and have no legal or contractual effect. These Terms will not be construed in favor of or against any party by reason of the extent to which any party participated in the drafting of these Terms. The failure of either party to insist upon or enforce strict performance of any of the provisions of these Terms or to exercise any rights or remedies under these Terms will not be construed as a waiver or relinquishment to any extent of such party’s right to assert or rely upon any such provision, right or remedy in that or any other instance; rather, the same will remain in full force and effect. The word “or” as used in these Terms has the same meaning as “and/or”. The terms ‘include’ and ‘including’ will be deemed to be immediately followed by the phrase “without limitation.”

6. Jurisdiction

These Terms of Use shall be governed by German law. The application of the German Uniform Code on the Formation of Contracts for the International Sale of Movable Goods of 17 July 1973 and the United Nations Convention on Contracts for the International Sales of Goods (CISG) of 11 April 1980 is excluded.

The Service is the copyright of Peermit. (© 2016 Peermit) or the proprietary property of its suppliers, affiliates, or licensors. All Rights Reserved.

End of Terms of Service