Terms of use
PLEASE READ THE TERMS OF SERVICE BEFORE USING OUR SERVICE. THESE TERMS OF SERVICE GOVERNS YOUR ACCESS TO AND USE OF OUR SERVICES. THESE GLOBAL TERMS OF SERVICE APPLY TO EVERY USER OF THE SHIPFINEX PLATFORM WORLD-WIDE (SHIPFINEX.AE FOR UAE RESIDENTS, SHIPFINEX.COM FOR ALL OTHER USERS) TOGETHER WITH OUR ASSOCIATED MOBILE APPLICATIONS, SOCIAL-MEDIA CHANNELS AND ANY OTHER INTERFACE WE CONTROL.
YOU ARE ENTERING INTO AN AGREEMENT WITH SHIPFINEX FZCO, UAE. OUR SERVICES ARE PROVIDED TO YOU ONLY IF YOU AGREE TO OUR TERMS SET FORTH BELOW. IF YOU DO NOT AGREE WITH OUR TERMS OF SERVICE, PLEASE STOP USING THE SERVICES PROVIDED.
A COPY OF THE AGREEMENT WILL BE SHARED WITH YOU UPON SIGNING.
General Provisions
Contractual Relationship – This Terms of Service is a legally binding agreement between the user of the platform (“You” or “Your” or “Users” or “Customers” or “Client”) and the following entity:
Shipfinex FZCO, a company incorporated under the laws of the United Arab Emirates with business address at IFZA Business Park, Dubai, United Arab Emirates. (hereinafter referred to as "Shipfinex” or “Company” or “Platform” or “We” or “Us” or “Our” or “Virtual Assets Service Provider” or “VASP”). The Company operates under the Shipfinex Group. Details on the group can be found in the following link: shipfinex.ae/about-us or at www.shipfinex.com/about-us
Purpose: The primary goal of the Shipfinex platform is to provide professional, secure, and reliable digital asset trading services to users worldwide, while adhering to relevant laws and regulations. We are dedicated to promoting legal and transparent business activities, ensuring a positive reputation among users, regulators, and the digital asset industry.
Shipfinex Platform: The ‘Shipfinex Platform’ includes (i) the website shipfinex.ae for UAE residents, (ii) the website shipfinex.com for users in all other jurisdictions, and (iii) all related mobile apps, social-media accounts and digital channels operated by, or on behalf of, Shipfinex. These platforms provide a variety of services, including virtual asset (VA) trading, educational resources, and other features within the platform's ecosystem.
Client Definition: For the purposes of these Terms of Use, "Client" refers to any individual or entity engaging with the services provided by Shipfinex, a Virtual Asset Service Provider (VASP) licensed under the Virtual Asset Regulatory Authority (VARA).
Acceptance of Terms: By registering as a user of the Shipfinex platform, you agree to be bound by this User Agreement and all related agreements and policies published by the platform, collectively referred to as the "Agreement." If you do not agree to these terms, please refrain from registering, visiting the website, or using any services, products, or content offered by the platform.
Supplementary Terms: These Terms of Service should be read in conjunction with our Privacy Policy and any other agreements you may have entered into with Shipfinex.
Privacy Policy: As a user of the platform, certain information may be collected about you through your use of our services. For details, please refer to our Privacy Policy at this link: https://www.shipfinex.ae/legal/data-privacy-policy or at https://www.shipfinex.com/legal/data-privacy-policy
Scope of Initial Release
Until Shipfinex receives its full operational license, the Platform will operate under an Initial-Release configuration(“IR”) as permitted and limits prescribed by the competent regulatory authority. Access is restricted to selected users on a discretionary basis. During the IR period:
(a) a limited number of Maritime Asset Tokens related to one or more ships may be offered;
(b) funds subscribed by the issuing ship-owner/s remain locked on-platform and are not withdrawable until the competent regulator permits;
(c) certain tools, access to features, reports or APIs described elsewhere in these Terms may be unavailable, slower, or replaced without notice;
(d) the IR conditions prevail over any conflicting service description in these Terms.
Account – Registration and operation
Eligibility and Suitability
To register an account, you must confirm that you are a natural person or legal entity, at least 18 years old, with the legal authority and full capacity to enter into this agreement, engage in civil and commercial conduct as required by law, to enter into binding contracts under the laws of (i) your country or territory of residence and (ii) the United Arab Emirates. Where local law sets a higher age of majority, that higher age applies. Additionally, you must verify that you have not been deprived of the right to use our services. If you do not meet these conditions, please refrain from registering on our website or platform.
We reserve the right to refuse or reject account registration at our sole discretion, including but not limited to accounts associated with political or public figures or to comply with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws and regulations. For further details, please refer to our AML Policy here: www.shipfinex.com/legal/aml-cft-policy or www.shipfinex.ae/legal/aml If you have already registered, we may suspend, terminate, or close your account without prior notice and hold you responsible for any adverse consequences arising from non-compliance.
Restrictions
This Agreement is offered globally. By opening or maintaining an account you confirm (a) that you have full legal capacity under the laws of your country of residence, and (b) that nothing in the laws or regulations of the United Arab Emirates or of your country of residence prohibits you from using our services. If you do not meet these conditions, please discontinue your registration or stop using our platform services immediately.
Identity Accuracy and Verification
During registration, you must follow the prompts on our platform to complete all necessary procedures. By doing so, you fully understand and accept all the content of this agreement, including any subsequent revisions published on the platform.
Information You Provide
When creating an account, you are required to provide the following minimum information:
A valid email address and phone number.
Your identification documents and proof of address documents
Accuracy of Information
You agree to:
Provide accurate, up-to-date, and complete information when registering an account
Periodically update your account information to ensure its accuracy
Maintain the security and confidentiality of your login credentials and access to your account and devices
Take responsibility for all activities that occur under your account and bear the risks of unauthorised access
We are not liable for any damages or losses resulting from inaccuracies in the information you provide. If the information is found to be inaccurate, incomplete, or misleading, we reserve the right to freeze, block, or close your account.
Deposit Protection Disclaimer
By using our services, you acknowledge that Virtual Assets held on our platform are not covered by any form of deposit insurance or guarantee. It is important that you are fully aware of this risk before utilising our services.
Information and Asset Details
Detailed information regarding the Virtual Assets we support, our response to newly created or unsupported Virtual Assets, and any risks related to our services, including custodial services, can be found on our platform or accompanying documentation. If any Virtual Assets fall outside our control during the provision of any Virtual Asset activities, we will notify you and clearly identify the responsible entities, including their locations and liability.
Custody Arrangements
Shipfinex does not provide custody services nor rely on custodians for managing customer funds. All funds are held and managed solely by customers themselves.
Amendments to the Terms
Right to Amend
Shipfinex reserves the right to amend this agreement or introduce and modify specific rules as needed, in accordance with this agreement. Any changes will be published in the relevant sections of the platform's system. Updates to these Terms of Service will be communicated to users at least thirty (30) calendar days before the changes take effect. We advise users to review the updated terms carefully. By continuing to use the service after changes to the agreement or specific rules are announced, you are deemed to have fully read, understood, and accepted the revised agreement and rules. From that point onward, the platform’s services will be governed by the updated agreement and rules.
Right to Terminate
You agree that Shipfinex may immediately terminate your access to the platform and your account by issuing a notice. This includes, but is not limited to, the following rights: to restrict, suspend, or terminate your service and user account; to prohibit access to the platform and its content, services, and tools; to delay or delete content; and to take technical or legal measures to remove users who violate this agreement or platform policies. These measures may also extend to compensating for any loss or damage caused. If we determine that you have violated any laws, regulations, agreements, or platform policies, we reserve the right to take action without being held responsible for any loss or damage suffered by you or any third party as a result of these actions.
Notification of Amendments
To ensure transparency, Shipfinex will notify users of amendments via email or through an in-platform notification system. Users are encouraged to regularly check their registered email addresses and the platform's notification section to stay informed about changes. Failure to review the notifications does not exempt users from abiding by the updated terms.
User's Right to Dispute Amendments
If a user disagrees with any amendments made to the terms or specific rules, they may choose to terminate their account by providing written notice to Shipfinex before the effective date of the changes. Continuing to use the platform beyond the effective date will be considered acceptance of the amended terms.
Regulatory Changes
In cases where amendments are made to comply with new laws, regulations, or governmental directives, Shipfinex may need to implement changes to the terms without the standard thirty (30) calendar days' notice. In such cases, users will be notified as soon as practically possible, and the changes will take effect immediately.
Historical Versions of Terms
For reference and transparency, Shipfinex will maintain a record of historical versions of the Terms of Service. Users will be able to access these archived versions on the platform to understand changes over time.
Use of Service
Service Usage Rights
As a registered user, you have the right to access and browse real-time digital asset data and transaction information provided by Shipfinex on its platform. Additionally, you may submit digital transaction instructions and complete digital transactions through the platform's interface, in accordance with the platform’s policies.
Account Access and Platform Functions
You are entitled to view and manage the information associated with your account on the platform. You may use the features and functionalities provided by Shipfinex to perform various operations, such as monitoring transactions, reviewing balances, and managing settings related to your account.
Participation in Platform Activities
You have the right to participate in activities organised by the platform in accordance with the specific rules and guidelines published for each event. This includes promotions, contests, or other services offered by Shipfinex.
Platform Adjustments and Changes
You acknowledge and agree that Shipfinex reserves the right to adjust the content, types, and forms of services offered on the platform based on operational or market conditions. Shipfinex will not be held liable for any negative impact or loss that may arise from such adjustments, whether it affects you or any third party.
Restriction/Limitation of Service
Depending on your country or region, some platform functions or services may not be available to you. Shipfinex reserves the right to restrict or suspend services to users in specific countries to ensure compliance with local laws and regulations. It is your responsibility to be aware of and comply with the laws and regulations of your location, including any that apply to your use of this platform.
IR Feature Variability. During the IR period you may transact only in the MATs offered until the limits that may differ from time to time, as required or permitted by the Competent regulatory authority. You acknowledge that functionality, performance and user experience may differ from the fully licensed version, and that the absence, withdrawal or modification of any feature does not give rise to compensation, refund or other liability.
Transaction Confirmation and Instructions
You confirm that any transaction status or instructions submitted and confirmed by you through the platform are binding. These instructions will serve as authorization for Shipfinex to execute related transactions or operations on your behalf. You agree that Shipfinex has the right to handle such transactions in accordance with this agreement, relevant documents, and platform rules.
Responsibility for Transaction Issues
You are solely responsible for any disputes, losses, or issues resulting from your failure to modify, confirm, or submit the transaction status in a timely manner. Shipfinex will not be held responsible for any consequences arising from such failures.
Notification of Security Issues
If you identify or suspect any security vulnerabilities related to the platform, or have any other concerns, you must notify Shipfinex immediately at [email protected]
Suspension or Termination of Service
Shipfinex retains the right to suspend or terminate your access to specific platform services if you are found to be in violation of any part of this agreement or relevant platform policies. This includes technical or legal measures to address misuse of services, infringement of rules, or legal violations. Shipfinex is not responsible for any loss or damage caused by the suspension or termination of your account.
Amendments to Service Usage Terms
Shipfinex reserves the right to amend these service usage terms as needed. Any changes will be communicated to users at least thirty (30) calendar days in advance, and users are advised to review the revised terms. Continued use of the platform after the effective date of the changes will be considered acceptance of the updated terms.
Overview of Shipfinex Services
Services
Shipfinex provides a digital trading platform and services accessible through both web browsers and mobile applications. We do not operate as a direct buyer or seller in transactions with users. Instead, we offer the following services:
Transact: This includes various services such as facilitation of buying/selling of Maritime Asset Tokens (MATs), facilitating users to purchase/sell supported MATs in real-time via our platform.
Online Learning Portal: A robust online portal featuring a curated selection of courses and modules, designed to equip members with essential knowledge and skills to navigate the complexities of the maritime industry.
Industry Insights: In-depth insights provided through regular newsletters, research reports, and market analyses. These resources offer members a competitive edge, enabling them to make informed decisions.
Access to Maritime Assets: The platform facilitates placement of Maritime Assets to users along with various documents and certificates that enable the user to make an informed decision.
Exclusive Webinars and Events: Gain access to expert-led webinars and both online and offline events, covering critical industry topics. Learn from leading figures and enhance your knowledge of the shipping world.
Ship Tracking: Monitor the movements of offered assets, enhancing situational awareness.
Real-Time Asset Valuation: Obtain accurate, up-to-date valuations of maritime assets, allowing users to make informed decisions.
Evolving Service Portfolio: The Shipfinex platform continuously expands its offerings, incorporating additional ancillary services deemed beneficial to its members. The platform remains committed to evolving in line with industry needs
Collaboration with Third-Party Service Providers
Shipfinex collaborates with various third-party service providers to deliver its services effectively. These third parties are essential for supporting functionalities such as security, payment processing, and compliance with regulations. A detailed list of these third-party entities, which are crucial for the services provided under these Terms, can be found here: www.shipfinex.com/legal/thirdparties or www.shipfinex.ae/legal/thirdparties
Service Availability and Accessibility
Shipfinex strives to provide uninterrupted access to its platform and services. However, we do not guarantee that the platform will always be available without interruption. Maintenance, upgrades, or unforeseen technical issues may cause temporary unavailability of services. We will notify users in advance, wherever possible, of any planned outages or disruptions. During the IR period, the Platform may impose load caps or maintenance windows at short notice; such events shall not constitute a service breach.
User Support and Assistance
Shipfinex offers dedicated customer support to assist users with any inquiries or issues regarding the platform and its services. Users can contact our support team via [email protected]. Our team is committed to resolving issues promptly and ensuring a smooth user experience.
Risks Involved
By using our platform, you acknowledge that trading in digital assets involves certain risks, including but not limited to market volatility, liquidity risk, and regulatory changes. Shipfinex is not liable for any financial losses incurred due to trading activities on the platform. Users are encouraged to seek independent financial advice and thoroughly understand the risks before engaging in trading.
Compliance with Laws and Regulations
Shipfinex operates in full compliance with the relevant laws and regulations of the jurisdictions in which it provides its services. Users are required to adhere to local laws, including but not limited to tax reporting obligations. Non-compliance may result in the suspension or termination of services, and Shipfinex will cooperate with legal authorities as required.
Updates to Services
Shipfinex reserves the right to update or enhance its services from time to time, in line with technological advancements and evolving user needs. These updates may involve the addition or removal of features. Users will be informed of major updates, and continuing use of the platform after such updates signifies acceptance of the changes.
Limitations on Use of Services
Your right to use the Service does not include any collection, aggregation, copying, duplication, display, or derivative use of the Service. Furthermore, any use of data mining, robots, spiders, or similar data gathering and extraction tools is prohibited unless expressly permitted by Shipfinex.
Termination of Unauthorised Access
Any use of the Service that goes beyond the scope of authorised access granted by Shipfinex will result in the immediate termination of such permission or right. If you wish to collect, aggregate, copy, duplicate, display, or make derivative use of the Service or any content made available via the Service for commercial purposes or other uses not explicitly stated, you must first obtain written permission from Shipfinex.
Transaction Management and Fees
This platform will provide services for your transactions and will charge necessary service or management fees in accordance with relevant documents, agreements and/or relevant rules and instructions on the page of this platform during the service process. For details, please refer to this agreement and on our platform.
Fee Terms
By selecting a transaction and completing the fee process through Transak or any alternative methods that Shipfinex may implement at its discretion, clients will be able to purchase stablecoins or Maritime asset tokens. Clients acknowledge that transacting on the Shipfinex platform and its associated services is contingent upon successful fee settlement displayed prior to executing the transaction. 1. Transaction fee: 1.25% to be paid by user to Shipfinex on every transaction and 1.25% to be paid by shipowner to Shipfinex on every transaction
2. USDC purchase: Shipfinex does not charge any fees on USDC purchase. (On Ramp Vendor fee may be applicable depending on the options used to fund your wallet) 3. USDC transfer: Shipfinex does not charge any fee on USDC transfers by users either inward or outward. Blockchain Networks may have a variable gas fee that the users have to bear.
Fee Options
You can fund your self-custody wallet on Shipfinex via any of the following routes:
Bank wire into either our OR our regulated partner accounts.
Card on-ramp processed by Transak.
On-chain USDC transfer from an external wallet on supported networks (currently Polygon).
All charges are displayed before you commit the transaction; you will never be debited retroactively for deposit fees
Shipfinex may introduce additional fee settlement methods in the future, subject to any relevant VARA guidelines on payment security and transparency.
Access to Benefits
Once cleared funds (USDC) appear in your on-platform wallet you immediately gain the ability to transact with MAT offerings via USDC. The platform ensures that all transactions comply with relevant security and compliance standards required under VARA regulations.
Fee Authorization
Clients are responsible for reviewing and understanding the fee amounts, frequency, and duration associated with their activity on the platform prior to finalising the fee settlement. Shipfinex ensures that all costs are transparently disclosed in accordance with VARA's principles on fair client agreements.
By clicking “Confirm” or an equivalent action inside any funding, purchasing, trading or withdrawal screen you irrevocably:
instruct Shipfinex to execute the transaction, and
authorise Shipfinex to deduct the applicable fee(s) directly from the relevant USDC or fiat balance, or from proceeds of sale, as shown in the pre-trade preview
Fee Modifications
Shipfinex may introduce, remove or vary any fee on 30 calendar-days’ notice delivered by e-mail + in-app banner. Continuing to use the platform after the effective date constitutes acceptance. If you object to any new fee you may close your account and withdraw your assets at no additional cost during the notice period. Continuing to use the platform after such changes have taken effect constitutes acceptance of the updated fee terms, in line with VARA's requirement for proper client communication regarding fee amendments.
Refunds and Cancellations
All fees are non-refundable. On-chain transfers are final once confirmed; Shipfinex's refund policy is in accordance with VARA’s requirements, ensuring transparency and clarity regarding client fee obligations.
Secure Transactions
All value flows are executed via audited smart-contracts. Card payments are processed through Transak PCI-DSS gateways, and bank transactions through regulated partner institutions. Shipfinex complies with all applicable VARA regulations regarding secure and compliant financial transactions, providing an additional layer of protection for users.
Compliance with Fee Terms
Clients agree to adhere to all fee terms and conditions outlined herein. Any violations of these terms may result in the suspension or termination of platform access. Shipfinex will ensure that all actions related to non-compliance with fee terms align with VARA's guidelines on fair treatment and enforcement of client agreements.
Service Change, Interruption or Termination
Termination by You
If you wish to terminate this agreement, you can do so by notifying us immediately at [email protected]. Your account will be closed within a few days, provided that there are no outstanding obligations towards Shipfinex or any relevant third parties connected to Shipfinex, such as open positions or leverage. All obligations must be settled before the termination takes effect.
Termination by Platform
This agreement remains valid unless terminated by Shipfinex unilaterally or at your request with the platform's agreement. If you violate this agreement, any platform rules, applicable laws, or regulations, or if Shipfinex reasonably suspects that you are engaged in illegal or improper behaviour while using our services, the platform reserves the right to terminate this agreement, close your account, or restrict your access to the platform without prior notice. Additionally, government requests may also result in termination. However, termination by the platform does not exempt you from fulfilling any outstanding obligations under this agreement or any other agreements generated on this platform.
Unauthorised Use of Your Account
If you discover that your account has been fraudulently used, misappropriated, or accessed without authorization, you must immediately notify the platform in an effective manner and request a suspension of services. You bear all liabilities, losses, claims, damages, and expenses resulting from any unauthorised use of your account (whether authorised by you or not).
Network Interruption
Due to the nature of network services, you acknowledge that Shipfinex may change, interrupt, or terminate some or all of the network services at any time without prior notice and without any liability to you or any third party.
Service Maintenance
Shipfinex reserves the right to regularly or irregularly maintain or overhaul the platforms that provide network services (such as websites, mobile networks, etc.) or related equipment. If such maintenance causes service interruptions for a reasonable period, the platform will notify users as soon as possible. However, Shipfinex is not liable for any loss, damage, compensation, or responsibility caused by such interruptions.
Suspension or Termination of Services by Platform
Shipfinex retains the sole discretion to suspend or terminate the provision of some or all services under this agreement, remove or delete registration data, or take remedial or temporary measures (such as cancelling transactions or freezing accounts) without prior notice or liability to you or any third party. The platform may exercise this right under the following circumstances:
i) If the personal information you provide is found to be false, invalid, or incomplete.
ii) If abnormal, illegal, or suspicious transactions or activities are detected on your account.
iii) If the platform suspects that your account is involved in money laundering, cash-outs, pyramid schemes, fraudulent use, or any other risky activities.
d) If you violate this agreement.
e) If you fail to pay the corresponding service fees for paid services.
f) If the platform identifies unauthorised access to your account, or your account is subject to government procedures, investigations, or litigation.
g) Any other situation in which the platform, at its sole discretion, determines the need to suspend, interrupt, or terminate your account and services, or remove your registration data.
Continued Responsibilities Post-Termination
You agree that the suspension, interruption, or termination of your account or any other measures taken under the above terms do not absolve you of your responsibilities. You remain liable for any breach of contract or compensation for damages incurred during your use of the platform. Shipfinex may also retain your account information and data for compliance and legal purposes, as required by applicable laws and regulations.
Inactive Accounts
If your registered account is not used for 90 consecutive days, Shipfinex reserves the right to delete the account and cease providing the relevant network services to you.
Rules of Conduct
Account Information
When applying for platform services, you must provide accurate and up-to-date personal information in accordance with the platform's relevant rules. In the event of any changes to your personal information, you should promptly update the information by contacting us directly. You are responsible for maintaining the confidentiality of your account number and password. You must not transfer or lend your account credentials to others. If you discover that your account has been used illegally or accessed by unauthorised persons, you must notify the platform immediately. The platform does not assume any responsibility for unauthorised use of accounts due to hacking, viruses, or negligence in securing your account details.
Service Operation Standards
You agree to comply with all applicable laws, regulations, and regulatory requirements when using the platform and services to ensure that all funds and assets in your account originate from legitimate sources. Unless explicitly permitted by law or with written permission from Shipfinex, you must not engage in any of the following activities while using the platform's services:
Use the platform's services in any way that could disrupt the normal operation of the Internet or mobile networks.
Use the platform to upload, display, or distribute any content that is false, harassing, defamatory, abusive, threatening, vulgar, obscene, violent, or in violation of applicable laws and regulations.
Engage in any activity that could harm the operation of the platform or its reputation.
Infringe upon the legal rights of third parties, including intellectual property rights, trade secrets, or other commercial interests.
Induce other users to click on external links, share information, or use platform accounts for unauthorised promotion or advertisements without the platform's written permission.
Create, distribute, or promote tools or methods that facilitate any of the above activities, regardless of the intent behind such activities.
Engage in any other behaviour that violates applicable laws, infringes on third-party rights, or disrupts the normal operation of the platform.
Compliance with Service Rules
As a client of Shipfinex, you agree to abide by all platform rules specific to broker-dealer services, including but not limited to:
Reviewing Transaction Information: When viewing transaction information on the platform, you should carefully review all relevant content, such as prices, fees, and terms of the transaction. You agree to fully accept all the information provided before proceeding with any transaction.
Submitting Transaction Requests: After reviewing the transaction details, you may submit a transaction request. Upon submission, you authorise Shipfinex to act on your behalf to process the corresponding transaction, in compliance with relevant legal and regulatory standards.
Viewing Transaction Details: You may view the details of your transactions through your account to confirm your transaction history.
Modification of Transaction Requests: You have the right to modify or cancel any transaction request before the transaction has been executed. Once executed, no further changes can be made.
Platform Review and Supervision
Shipfinex reserves the right to monitor and review your use of platform services, including but not limited to reviewing any content stored or transmitted through the platform. If you violate any of the regulations mentioned above, Shipfinex reserves the right to request that you rectify or remedy the situation. Additionally, the platform may take any necessary actions (such as removing content, suspending or terminating your account, or restricting access to services) to mitigate the impact of your violations.
Execution of Orders
While Shipfinex aims to process orders under normal operational conditions, orders placed in the system are not guaranteed to be executed even if market prices fall within your specified range. We do not guarantee that your order will be executed during any planned or unplanned downtime. If the system resumes operation after downtime, orders will be processed on a commercially reasonable basis, and Shipfinex reserves the right to reject or cancel any orders that were placed or not placed during the downtime period.
Limitations of Liability for Order Delays
Orders may be subject to delays, disruptions, or external conditions beyond Shipfinex's control, which could affect the transmission or execution of an order. Such conditions may include mechanical or electronic failures, market congestion, or other unforeseeable issues. Shipfinex is not liable for any consequences arising from such delays or disruptions.
General Code of Conduct
Shipfinex is committed to fostering a fair and transparent trading environment for all clients. By using our services, you agree to abide by the following Code of Conduct to ensure a positive experience for all users. Failure to comply with this Code may result in account suspension or other measures as deemed appropriate by Shipfinex.
Compliance with Applicable Laws: You must comply with all relevant local, national, and international laws and regulations while using our platform.
Security and Authentication: Safeguard your account credentials and personal information. Use strong, unique passwords and enable two-factor authentication to enhance security.
Respect for Others: Treat all platform users with respect and courtesy. Harassment, abuse, or discrimination in any form is strictly prohibited.
Prohibited Activities: Do not engage in illegal activities or activities that violate Shipfinex’s terms, including fraud, money laundering, or market manipulation.
Transparency and Reporting: Report any suspicious or unauthorised activities to Shipfinex customer support immediately. Do not engage in or support fraudulent or deceptive behaviour.
Compliance with Policies: Adhere to all the terms, policies, and procedures outlined in the Client Agreement, including but not limited to our rules regarding trading, access, withdrawal, and market offences.
Data Security: Protect your personal and financial data. Do not share sensitive information with anyone claiming to represent Shipfinex unless you have verified their identity.
Ethical Trading: Engage in responsible and ethical trading practices. Do not participate in actions that manipulate or distort market prices.
Accountability: You are responsible for your actions and their consequences while using the platform. Failure to adhere to the Code of Conduct may result in consequences such as account suspension.
Intellectual Property
Ownership of Content
Unless otherwise specified, all content on the Shipfinex platform is the property of the company and is protected by copyright, patents, trademarks, and other applicable intellectual property laws. This includes, but is not limited to, the software, applications, text, images, graphics, data, prices, transactions, charts, and audio-visual materials used on the website and platform.
Trademarks and Proprietary Rights
The trademarks, product names, service marks, and company logos displayed on this platform are the exclusive property of Shipfinex or their respective owners. All intellectual property, including the design, software, data, and visual content, belongs to Shipfinex. The content, trademarks, and other intellectual property on the platform must not be copied, reproduced, modified, reprinted, uploaded, posted, transmitted, captured, collected, or distributed in any form, whether through automatic or manual processes, without prior written consent from Shipfinex.
Unauthorised Use of Intellectual Property
It is strictly prohibited to use any content from the Shipfinex platform on any other website or networked computer environment without proper authorization. Such unauthorised use may violate copyright, patent, and trademark laws, as well as other applicable regulations, potentially resulting in both criminal and civil penalties.
Shipfinex Trademark Protection
The Shipfinex name and associated trademarks are the exclusive property of the platform. Users and third parties are prohibited from using the Shipfinex trademark without prior written authorization from Shipfinex. Unauthorised use of these trademarks is subject to legal action.
Reporting Intellectual Property Infringement
Shipfinex is committed to protecting intellectual property rights. If you believe that your trademark or copyrighted material has been infringed upon by content on our platform, you may submit a claim. To file a trademark or copyright infringement claim, please send an email to [email protected] with all relevant details. Shipfinex will promptly investigate and take appropriate action in compliance with applicable laws and regulations.
User Responsibility for Uploaded Content
Users must ensure that any content uploaded or shared on the platform does not infringe on third-party intellectual property rights. Shipfinex reserves the right to remove any content that violates intellectual property laws and may suspend or terminate user accounts responsible for such violations, in compliance with VARA regulations and intellectual property laws.
Licence and Limited Use
Shipfinex grants users a limited, revocable, non-transferable licence to access and use the platform for personal or business purposes in accordance with this agreement. This licence does not permit users to modify, create derivative works, reverse-engineer, or otherwise exploit the platform or its content beyond the scope of what is expressly permitted by Shipfinex.
Compliance with Applicable Laws
All users of the Shipfinex platform are required to comply with applicable intellectual property laws. Shipfinex will cooperate with authorities and rights holders to address any violations of intellectual property rights, as required by VARA and other governing regulations.
General Disclaimer
No Investment Advice
You understand that the services provided by Shipfinex, which may include enabling the buying, selling, or storing of digital assets, do not constitute investment advice, tax advice, legal advice, or any other professional advice. Shipfinex does not recommend or endorse any specific digital assets or investments. Before engaging in any trading or investment activity, you should consult a qualified professional for advice tailored to your financial, legal, and tax situation. The platform’s services are provided as a medium for transactions, not as an advisory or consulting service.
"As-Is" Service Provision
The services provided by Shipfinex are strictly offered on an "as-is," "where available," and "existing" basis (including any services delivered under the Initial-Release configuration). The company does not provide any warranties or representations regarding the accuracy, completeness, timeliness, non-infringement, marketability, or suitability of the information or services provided. Shipfinex will not be liable for any loss or damage incurred as a result of decisions or actions taken by you or any third party based on the use of Shipfinex services or the information contained therein. This includes, but is not limited to, inaccuracies, delays, interruptions, errors, or omissions, whether arising from negligence or unforeseen circumstances. The company is not responsible for any data losses or damages arising from the use of the platform or its services.
Limitation of Liability
Shipfinex shall not be liable for any direct, special, indirect, consequential, or incidental damages of any kind (including loss of profits), even if Shipfinex has been advised of the possibility of such damages. This limitation includes, but is not limited to, damage caused by transmission of viruses, equipment or communication failures, unauthorised access, theft, operator errors, strikes, or force majeure events. Shipfinex’s aggregate liability for any claim arising while the IR conditions are in force shall not exceed the total fees you have paid to Shipfinex during that period. Shipfinex does not guarantee uninterrupted access to services and shall not be liable for any interruptions or failures affecting the use of the platform.
Marketing Campaign Disclaimers
From time to time, Shipfinex may run marketing campaigns that are intended purely for informational and educational purposes. These campaigns do not constitute investment advice or solicit the purchase or sale of securities, digital assets, or other financial instruments. Digital assets are highly speculative and volatile, involving significant risk. Before making any investment decision, carefully assess your investment objectives, experience level, and risk tolerance. Any information provided in a marketing campaign is believed to be reliable, but Shipfinex does not guarantee its accuracy or completeness. Participation in such campaigns is entirely at your own risk, and Shipfinex is not responsible for any claims, losses, or damages arising from your reliance on campaign information. Shipfinex reserves the right to modify or terminate marketing campaigns without prior notice.
Service Usage Disclaimer
In the event of unexpected factors, such as system failures, network issues, or external attacks (e.g., Distributed Denial of Service (DDoS)), Shipfinex reserves the right to cancel or reverse transactions impacted by such incidents. Shipfinex will make reasonable efforts to address these issues but is not liable for any loss or damage arising from these unexpected events.
Prohibition of Improper Trading Practices
Shipfinex strictly prohibits improper trading behaviours, including, but not limited to, malicious price manipulation and activities that negatively affect the integrity of the trading system. The company reserves the right to take corrective action, such as transaction restrictions, suspensions, or cancellations, and may freeze accounts or reverse completed transactions if necessary to prevent market abuse. These measures are taken to ensure a fair trading environment and are implemented without liability to you or any third party.
Digital Asset Fork Events
In the event that a supported digital asset undergoes a fork or other changes to its underlying code, Shipfinex will assess the situation to determine the potential impact on its services. Depending on the outcome of the evaluation, Shipfinex may take one or more of the following actions:
Suspension of Trading: If the fork poses a risk to the platform or client assets, trading of the affected digital asset may be suspended until the platform can ensure the asset's security and stability.
Delisting: If the forked or original asset is deemed too risky or has insufficient demand, Shipfinex may choose to delist the asset from the platform.
Fork Event Communication: Shipfinex will communicate transparently with clients about the implications of the fork and the platform’s chosen course of action, ensuring clear understanding.
Virtual Assets Specification
Shipfinex supports a range of Maritime Asset Tokens (MATs) for its broker-dealer services. The list of supported MATs, including any future additions or discontinuations, will be updated on the platform. Shipfinex commits to evaluating the introduction or removal of assets and will notify clients of any significant changes in a timely manner.
Handling of New or Unsupported Virtual Assets
When a new virtual asset is introduced or support for an existing asset is discontinued, Shipfinex will assess the impact on its services and communicate transparently with clients throughout the process. This assessment ensures that the platform remains compliant with regulatory standards and continues to meet client needs.
General Exclusion of Liability
Shipfinex shall not be liable for any loss suffered by you due to default, insolvency, or other issues with intermediaries or third parties, provided Shipfinex acted in good faith. The company shall not be liable for indirect or consequential losses, anticipated profits, or punitive damages under any circumstances, except where Shipfinex acted fraudulently or in willful default. This limitation of liability includes, but is not limited to, losses arising from errors, omissions, or mismanagement by intermediaries or service providers used by Shipfinex in the execution of its services.
General Risks and Warning
Awareness of Risks
Users should be fully aware of the inherent risks associated with using Shipfinex’s services, particularly in relation to the handling of digital assets. While Shipfinex has implemented various measures to mitigate these risks, digital assets are highly speculative and may involve the loss of part or all of your investment. Any custodial services provided by Shipfinex are also subject to these risks.
Market Volatility
The digital asset market is volatile, and prices can fluctuate significantly over short periods. These assets may not appreciate in value and may experience periods of decline, with no guarantee of market growth.
Digital Assets as Non-Legal Tender
Digital assets, such as Bitcoin or Litecoin, are not considered legal tender and are not backed by any government or central bank. Their value is determined by market participants and is subject to extreme volatility. Although Shipfinex operates in compliance with the regulations of the jurisdictions where it provides services, there is no assurance that digital assets will hold value in a regulatory context or that they will be widely accepted.
Regulatory Compliance and Restrictions
Shipfinex continuously engages with regulators and industry peers to ensure compliance with local and international regulations concerning digital assets. However, certain jurisdictions prohibit digital asset trading or have imposed restrictions. If your country or region is listed as a restricted jurisdiction for digital asset services or appears on any relevant sanctions list, you are prohibited from using Shipfinex’s services.
Cooperation with Government Authorities
As part of our commitment to legal compliance, Shipfinex cooperates with law enforcement and regulatory authorities. We may be required to provide user data to these authorities to aid in the prevention and investigation of illegal activities. By using our services, you agree to comply with all applicable laws, and any illegal activity may result in the suspension or termination of your account.
Speculative Nature of Digital Assets
Digital assets are primarily used by speculators and are not yet widely adopted in commercial markets. These transactions are extremely risky due to the lack of regulatory oversight, unrestricted price fluctuations, and potential market manipulation. Digital asset prices can be significantly affected by external factors, including government regulations, market sentiment, and technological changes.
Regulatory Changes Impacting Digital Assets
The regulation of digital assets is evolving rapidly. Changes to laws, regulations, or government policies could result in the suspension or prohibition of digital asset transactions at any time. Shipfinex will comply with such changes but cannot be held responsible for the resulting effects on users' digital assets.
High-Risk Investment
Investing in digital assets is a high-risk activity. Users must understand that there is a real possibility of incurring partial or total loss of their investment. You should make investment decisions based on your ability to bear losses and consult a financial advisor if necessary. Digital assets may also present derivative risks that can further complicate the investment process. Shipfinex assumes no responsibility for losses incurred through the use of its platform.
Limitation of Liability
Shipfinex shall not be liable for any indirect, incidental, punitive, or consequential damages, including but not limited to loss of profits, data, or business interruption, arising from the use of its services. This limitation applies even if Shipfinex has been advised of the possibility of such damages. All services are provided on an “as is” basis, without any guarantees.
Risks of Investing in Securities and Financial Products
There are inherent risks involved in investing in securities or financial products. These risks include market risk, liquidity risk, and the risk of losing part or all of your investment. Shipfinex assumes no responsibility for any losses incurred through users’ investment activities, and users are strongly advised to consult professional financial advisors before making any investment decisions.
Risks of Network Failures and Cybersecurity Attacks
Due to the risks of cyberattacks, system failures, or other unforeseen events, market information and services may be interrupted or inaccurate. Network failures or hacking attacks may result in errors, delays, or the inability to execute trades. Shipfinex makes every effort to secure its platform but cannot guarantee the prevention of all technical failures or security breaches.
Accuracy of Information
While Shipfinex strives to provide accurate and timely information, including market data, charts, news, and analysis, no guarantees are made regarding the reliability or completeness of this information. Information provided through the platform should be used at your own discretion, and Shipfinex is not liable for errors, omissions, or delays in the provided data.
No Liability for Use of Information
Neither Shipfinex nor its affiliates shall be held liable for any direct or indirect loss or damage arising from the use of the information provided on the platform. This includes but is not limited to inaccuracies or errors in the data provided, delays in data updates, or interruptions in information services.
Information Disclaimer
All information provided by Shipfinex is intended for reference purposes only. It does not constitute a recommendation, offer, or solicitation to purchase or sell any financial product or digital asset. Information provided may be updated or withdrawn by Shipfinex without prior notice. Users are responsible for conducting their own research before making any investment decisions.
No Guarantee of Performance
Shipfinex does not guarantee the future performance of any digital asset, financial product, or service offered on the platform. The value of digital assets may rise or fall, and past performance does not guarantee future results. Users should understand that investing in digital assets involves significant risks and may result in the loss of capital.
Network Security Risks and Technical Support
Users’ devices and software systems may be vulnerable to cyberattacks or viruses, potentially leading to failed transactions. If technical issues arise due to incompatibility between your system and Shipfinex’s platform, you should seek technical support. However, Shipfinex cannot guarantee compensation for financial losses due to uncontrollable circumstances such as hardware failure, hacking, or other disruptions.
Legal Compliance and User Responsibility
This agreement is governed by relevant laws and regulations. Users who violate the provisions of this agreement or any applicable laws will be held accountable. While Shipfinex continues to improve its platform to ensure compliance with legal standards, we cannot be held liable for the illegal activities of users. Users are responsible for understanding and complying with the legal requirements applicable in their jurisdictions.
Anti-Money Laundering and Law Enforcements
Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Measures
Through a risk-based multi-level control system, Shipfinex has implemented comprehensive Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) programs designed to mitigate and reasonably prevent money laundering and the financing of terrorism. These programs are in full compliance with applicable laws and regulations, including the guidelines established by VARA. Our approach ensures that we maintain a high standard of compliance and integrity in the digital asset industry.
User Identification and Verification
As part of our AML and ATF efforts, Shipfinex enforces strict user identification procedures. This includes verifying the identities of both individual and corporate users through Know Your Customer (KYC) processes. For corporate users, we also obtain detailed information on beneficial owners and controlling persons of the institutions involved. This thorough verification process ensures transparency and minimises the risk of illicit activity on our platform. For more information, please refer to our AML Policy, available here: www.shipfinex.com/legal/aml-cft-policy or www.shipfinex.ae/legal/aml
Law Enforcement and Government Inquiries
Shipfinex fully cooperates with law enforcement and regulatory authorities as part of its commitment to upholding the law. If you are a representative from law enforcement or a government official seeking information related to ongoing investigations or legal matters, please email us at [email protected]. We respond to all legitimate inquiries in accordance with applicable laws and regulations, while safeguarding user data privacy within legal boundaries.
Acceptance of AML Policy and Website Terms
Any user who accesses the Shipfinex website or uses its services, either directly or indirectly, is deemed to have voluntarily accepted and agreed to the terms of this statement and the platform's policies, including our AML and ATF measures. By continuing to use Shipfinex’s services, users acknowledge their obligation to comply with all applicable laws and regulations, including those related to AML and ATF efforts.
Ongoing Monitoring and Reporting Obligations
Shipfinex performs continuous monitoring of user accounts and transactions to identify suspicious activity. Any transactions flagged as potentially related to money laundering, terrorist financing, or other illegal activities will be reported to the relevant authorities, as required by law. We reserve the right to suspend or terminate accounts involved in suspicious activity and will take necessary legal actions in compliance with regulatory requirements.
User Responsibility for Compliance
All users of the Shipfinex platform are required to comply with local and international regulations, including AML and ATF laws. Users must provide accurate and complete information during the verification process. Failure to do so, or the discovery of misleading or fraudulent information, may result in account suspension, termination, and reporting to regulatory or law enforcement agencies.
Compensation for Breach of Contract
If you violate any relevant laws, rules, regulations, third-party rights, the terms of this agreement, or misuse any part of the services provided by the Shipfinex platform, you are solely responsible for any resulting claims, demands, litigation, damages, losses, or costs. This includes, but is not limited to, reasonable attorney fees and legal costs. You agree to indemnify, defend, and hold Shipfinex, its affiliates, officers, directors, employees, and agents harmless from and against any and all claims, liabilities, and damages arising from your breach of this agreement.
Scope of Indemnification
This indemnification obligation applies to any claims or demands brought by third parties due to:
Your violation of applicable laws and regulations;
Infringement of third-party rights, including intellectual property rights, privacy rights, or proprietary rights;
Misuse of Shipfinex’s services, such as engaging in illegal or prohibited activities;
Any failure to comply with AML, ATF, or other regulatory obligations;
Any inaccurate or misleading information you provide during the onboarding or KYC process.
Platform Rights and Remedies
In the event of a breach of contract, Shipfinex reserves the right to take the following actions, in addition to seeking compensation:
Suspension or Termination of Account: Shipfinex may suspend or terminate your access to the platform and its services without prior notice if you are found in breach of this agreement.
Legal Action: Shipfinex may pursue legal action, including seeking injunctive relief or other appropriate remedies, to protect the platform’s rights and interests.
Recovery of Costs: Shipfinex reserves the right to recover any costs or damages incurred as a result of your breach of contract, including but not limited to legal fees, investigation costs, and other expenses necessary to remedy the breach.
User Responsibility for Third-Party Claims
If a third party initiates a claim against Shipfinex as a result of your actions or breach of this agreement, you agree to fully cooperate with Shipfinex in defending against such claims. This includes providing relevant information, documents, and testimony as needed. Should Shipfinex incur any losses or liabilities due to your actions, you will be held responsible for compensating the platform for any financial damages, legal costs, or settlements.
Limits of Liability and Exclusions
While Shipfinex seeks to protect the platform and its users, our liability is limited to the fullest extent permissible by law. This limitation does not exclude liability for fraud, gross negligence, or willful misconduct, but it does limit liability for indirect, incidental, or consequential damages arising from your use of the platform or your breach of this agreement.
Service of Notice
Service of Notice via Publicity
Notices under this agreement that are made by general publicity on the Shipfinex platform will be deemed to have been served once they are published on the platform. This includes any notices related to updates, terms, or changes to the platform’s services. It is your responsibility to regularly check the platform for any such notifications.
In addition to public notices, Shipfinex may also issue exclusive notices directly to you. These will be provided through one or more of the following methods:
The email address you provided during registration;
Messages sent through the in-platform message system located in your personal account;
SMS messages sent to the mobile number you provided and linked to your Shipfinex account.
Once these notifications are sent, they will be deemed delivered. You are responsible for regularly monitoring your email, in-platform message system, and mobile phone to ensure you receive these important notifications.
Acceptance of Notifications
By using the Shipfinex platform, you agree to receive relevant notices, alerts, or reminders via email, in-platform messages, and SMS notifications. These notifications are essential for providing you with updates about your account, service changes, or other important information.
If you do not wish to receive certain notifications or alerts, you may adjust your preferences within the platform’s settings. However, you acknowledge that by opting out of receiving notifications, you may miss important information related to your account or the platform’s services. In such cases, you may not claim that relevant notifications were not delivered simply because you did not receive or read them.
Responsibility to Monitor and Act on Notices
It is your responsibility to regularly monitor the communication channels (email, in-platform messages, and SMS) associated with your Shipfinex account. Failure to review these notices or reminders does not exempt you from any obligations or actions required as a result of the notice. Shipfinex assumes no liability if you fail to act on a notice due to not reading or acknowledging the communication.
Updates to Contact Information
You agree to keep your contact information up to date, including your email address and mobile number, to ensure the timely delivery of all notices. If your contact information changes, it is your responsibility to promptly update your account details on the platform to avoid any delivery issues. Shipfinex will not be held responsible for undelivered notifications due to outdated or incorrect contact information.
Disclosure to statutory bodies and recognized financial institutions
Disclosure to Law Enforcement and Statutory Bodies
Shipfinex may disclose your personal data to law enforcement agencies, government officials, data protection authorities, or other regulatory bodies under certain circumstances. This disclosure will occur if we are compelled by legal requirements such as subpoenas, court orders, or other applicable legal procedures. Shipfinex will always comply with its legal obligations when handling such requests and ensure that the disclosure is done in accordance with applicable laws and regulations.
Disclosure for Preventing Damage or Financial Loss
In addition to legally mandated disclosures, Shipfinex may also share your information with relevant authorities if we believe that such disclosure is necessary to:
Prevent potential harm, damage, or financial loss to the platform, its users, or the general public;
Mitigate risk or prevent fraud, including the prevention of money laundering, terrorist financing, or other illegal activities;
Report any suspected violations of the law or regulatory requirements.
Investigations and Compliance with Agreements
Shipfinex reserves the right to disclose your personal data to regulatory bodies, if we believe such disclosure is necessary to investigate or address violations of this agreement. This may include sharing information with regulators, banks, payment processors, and other financial institutions to ensure compliance with legal obligations and to facilitate proper investigations into suspicious activities
User Notification and Transparency
Where permitted by law, Shipfinex will endeavour to notify you if your personal data has been disclosed to law enforcement or other statutory bodies. However, in cases where we are legally prohibited from notifying you (e.g., ongoing investigations, national security), we will comply with those restrictions and not provide notification.
Protection of Platform and User Integrity
Shipfinex is committed to ensuring the integrity and security of its platform and users. Disclosures made under this section are designed to protect Shipfinex and its users from fraudulent activities, criminal behaviour, or breaches of legal and regulatory obligations. By using Shipfinex services, you acknowledge that such disclosures may occur when deemed necessary to comply with applicable laws and to safeguard the platform's operations.
Applicable Law and Jurisdiction
Applicable Law
These Terms and the use of the Shipfinex platform shall be governed by and construed in accordance with the laws of the United Arab Emirates (UAE), without regard to its conflict of law principles. All parties agree to submit to the applicable laws of the UAE in resolving any legal issues or disputes that may arise from the use of the platform or the interpretation of these Terms.
Dispute Resolution and Arbitration
Any dispute, disagreement, or claim arising out of or relating to these Terms, the platform, or the services provided by Shipfinex, including any questions regarding the validity, existence, or termination of this agreement, shall be referred to and finally resolved by arbitration in the United Arab Emirates (UAE).
The arbitration will be conducted in accordance with the Arbitration Rules of the Dubai International Arbitration Centre (DIAC), as those rules are in effect at the time of arbitration. The DIAC Arbitration Rules are hereby incorporated by reference into this clause.
Arbitration Process
Arbitrator: The arbitration tribunal shall consist of one (1) arbitrator who is experienced in resolving disputes involving digital assets, financial services, or relevant commercial matters.
Language: The arbitration proceedings shall be conducted in English, and all documentation submitted during the arbitration must be in English.
Seat of Arbitration: The seat and venue of the arbitration shall be in the UAE, specifically within the jurisdiction of the Dubai International Arbitration Centre (DIAC).
Final and Binding Award: Any award made by the arbitration tribunal shall be final and binding on both parties. The award may be enforced in any court of competent jurisdiction, subject to the applicable laws governing the enforcement of arbitral awards.
Continuation of Obligations
While arbitration proceedings are ongoing, both parties shall continue to fulfil their obligations under these Terms, including but not limited to maintaining access to the platform and continuing any activities not directly impacted by the dispute. This ensures that users can continue utilising the platform’s services while the arbitration is resolved.
Enforceability of Arbitration Award
The parties agree that any arbitration award may be enforced by a court of competent jurisdiction in the UAE or in any other jurisdiction where the parties hold assets. The parties waive any right to challenge the validity or enforceability of the arbitration award, except as permitted by UAE law.
Other Agreements
Interpretation of the Agreement
Shipfinex reserves the final right to interpret the terms and provisions of this agreement within the scope permitted by law. The relevant terms and conditions found on this platform and the content of this agreement are meant to be interpreted together. In the event of any discrepancies or different interpretations, this agreement shall take precedence over any conflicting terms. Additionally, if any provision within this agreement is deemed invalid or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue to be in full force and effect.
Conflicts with Other Agreements
If any conflict arises between these Terms and any other agreement that you may have with Shipfinex, these Terms shall prevail unless explicitly stated otherwise in the conflicting agreement. Should you have any concerns or questions regarding the conflict between agreements, you may contact us at [email protected]
Waiver of Rights
Any failure by Shipfinex to enforce or delay the enforcement of any provision of this agreement, or to exercise any rights outlined within, shall not be construed as a waiver of those rights. Shipfinex reserves the right to enforce the terms of this agreement at any time, and the failure to do so in one instance does not preclude future enforcement.