BID Wallet Terms of Use

Last updated: 10 OCT 2024

1. Acceptance of Terms

By accessing or using the BID Wallet application ("App"), you agree to be bound by these Terms of Use ("Terms"). If you disagree with any part of the terms, you may not access the App.

2. Description of Service

BID Wallet is a digital wallet application associated with BidNow's cryptocurrency token - BID. It allows users to store, send, and receive digital assets such as BID tokens and NFTs.

3. Eligibility

3.1. You must be at least 18 years old to use BID Wallet.

3.2. By using the App, you expressly warrant and represent that:

  • You have full capacity to accept these Terms and enter any transaction available through the App.
  • You will not open, or attempt to open, a BID Wallet account under any name except your own; or use your account to carry out transactions on behalf of a third party.
  • You will not have more than one BID Wallet account.
  • You will not use your BID Wallet account for any illegal activity or in violation of any laws, statutes, ordinances or regulations.

4. Account Registration and Security

4.1. To use BID Wallet, you must create an account with BidNow.

4.2. You agree to provide accurate, current, and complete information during the registration process.

4.3. You are solely responsible for maintaining the confidentiality of your account and password, including but not limited to:

  • Maintaining adequate security and control over your sign-in details.
  • Enabling any additional security features available to you.
  • Keeping your contact details up to date.
  • Maintaining security and control over the email mailbox, mobile number and authentication applications or devices associated with your account.

4.4. You accept and agree that you have full responsibility for all activity that occurs in or through your BID Wallet account.

5. KYC and Identity Verification

5.1. BID Wallet implements and maintains Know Your Customer (KYC) processes. You may be required to provide certain personal details and documents when opening a BID Wallet account.

5.2. BID Wallet reserves the right to restrict, suspend, or terminate your account if we consider it necessary to carry out further identity verification.

5.3. You accept that there may be delays in accessing your account or in carrying out transactions while we undertake any identity verification procedures.

6. Use of the App

6.1. You agree to use the App only for lawful purposes and in accordance with these Terms.

6.2. You agree not to use the App:

  • In any way that violates any applicable national or international law or regulation.
  • To impersonate or attempt to impersonate BidNow, a BidNow employee, another user, or any other person or entity.
  • To engage in any other conduct that restricts or inhibits anyone's use or enjoyment of the App.

7. Transactions

7.1. BID Wallet will process transactions according to your instructions. You are solely responsible for ensuring all transaction details are correct.

7.2. Once submitted to a cryptocurrency network, a transaction will be unconfirmed for a period of time pending sufficient confirmation by the network. BID Wallet cannot reverse an executed order.

7.3. You acknowledge that any transaction details you submit may not be completed, or may be substantially delayed, by the cryptocurrency network used to process the transaction.

8. Fees

8.1. The fees applicable to transactions undertaken on BID Wallet can be viewed on the Fees page of the BidNow website.

8.2. BidNow reserves the right to change our fees at any time and will update the Fees page accordingly.

9. Prohibited Activities

You must not use your BID Wallet account to undertake any of the following activities:

  • Violation of any laws, statutes, ordinance or regulations.
  • Undertaking, facilitating or supporting criminal activity of any kind.
  • Fraudulent activity.
  • Transactions involving items that may help facilitate or enable illegal activity.
  • Intellectual property infringement.

10. Account Closure, Restriction, Suspension and Termination

10.1. You may close your BID Wallet account by submitting a closure request via our Help Centre or send an email to [email protected].

10.2. BidNow reserves the right to restrict, suspend or terminate your BID Wallet account where: - We reasonably suspect your account to be the subject of an operational or other error. - We reasonably suspect your account has been or is being used in relation to any unlawful, fraudulent or prohibited activity. - We are compelled to do so by a valid legal order.

11. Disclaimer of Warranties

The App and any related products or services are offered on a strictly "as-is" and "where-available" basis and BidNow expressly disclaims, and you waive, all warranties of any kind, whether express or implied.

12. Limitation of Liability

In no event shall BidNow, its operating entities or any other affiliates be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, arising out of or in any way connected with your use of, inability to use, or unavailability of the App.

13. Indemnity

You agree to indemnify BidNow against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly arising from your use of or conduct in relation to the App, or from your violation of these Terms.

14. Governing Law and Jurisdiction

This agreement shall be governed by and construed in accordance with the laws of Malaysia. Any disputes arising out of or in connection with these Terms will be subject to the non-exclusive jurisdiction of the courts of Malaysia.

15. Changes to Terms

We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material, we will provide at least 30 days' notice prior to any new terms taking effect.

16. Contact Us

If you have any questions about these Terms, please contact us at [email protected].