Terms of Use

Thank you for using Xago Technologies (Pty) Ltd. The following terms govern your use of and access to Xago Technologies (Pty) Ltd, so we would ask that you read them carefully.

1. The User Terms

1.1. These terms (User Terms) form a binding legal agreement (Agreement) between you as the user (you, your) and Xago Technologies (Pty) Ltd (we, us, our) and relate to how you may use the software or services provided by us to you (collectively, Xago Technologies (Pty) Ltd). By accepting these User Terms, you agree to be bound by their effect.

1.2. References to clauses (unless otherwise provided) are references to the clauses of these User Terms. Words in the singular include the plural and in the plural include the singular. A reference to a particular law is a reference to it as it is in force for the time being, taking account of any amendment, extension, application or re-enactment and includes any subordinate legislation for the time being in force made under it. References to including and include(s) shall be deemed to mean respectively, including without limitation and include(s) without limitation.

2. Accepting The User Terms

2.1. In order to use Xago Technologies (Pty) Ltd, you must first agree to the User Terms. You may not use Xago Technologies (Pty) Ltd if you do not accept the User Terms. You can accept the User Terms by:

2.1.1. clicking to accept or agree to the User Terms where this option is made available to you in the user interface provided to you; or

2.1.2. by actually using Xago Technologies (Pty) Ltd.

2.2. Please note that by clicking on any links while using Xago Technologies (Pty) Ltd, you may access other websites owned by us or by a third party. Different terms of use may apply to your use of any such website, and you should check such terms before using that website.

2.3. You agree that we may modify the User Terms from time to time without notice. We recommend that you review the User Terms on a regular basis. You understand and agree that any use by you of Xago Technologies (Pty) Ltd following changes having been posted by us will be deemed acceptance of any such changes.

3. Use of Xago Technologies (Pty) Ltd By You

3.1. In consideration of you agreeing to fully comply with and be bound by these User Terms, we hereby grant you a non-exclusive, non-assignable, non-transferrable, non-sub-licensable licence for the duration of the Agreement to use Xago Technologies (Pty) Ltd for the purpose of buying, selling and transfer of crypto assets using our platform.

3.2. You agree not to access (or attempt to access) any part of Xago Technologies (Pty) Ltd by any means other than through the interface that is provided by us. You specifically agree not to access (or attempt to access) any part of Xago Technologies (Pty) Ltd through automated means, including use of scripts, robots, spiders, scrapers or web crawlers. You agree that you will not (a) take any action that imposes, or may impose (in each case at our sole discretion) an unreasonable or disproportionately large load on our infrastructure; (b) (save to the extent permitted by governing law) copy, duplicate, reproduce, rent, lease, loan, sell, trade, resell, modify, create derivative works, distribute or publicly display any part of Xago Technologies (Pty) Ltd without prior written consent from us; (c) interfere or attempt to interfere with the proper working of Xago Technologies (Pty) Ltd or any related activities conducted by us; (d) bypass any measures we may use to prevent or restrict access to Xago Technologies (Pty) Ltd; and (e) attempt to reverse engineer, decompile or otherwise seek to obtain access to any source code in Xago Technologies (Pty) Ltd.

3.3. You agree that you will not engage in any activity that interferes with or disrupts Xago Technologies (Pty) Ltd or the servers and networks that are connected with Xago Technologies (Pty) Ltd.

4. End User Data

4.1. The data we collect from you may include personal data. By providing any data to us through your use of Xago Technologies (Pty) Ltd (any such data, End User Data), you acknowledge and consent to the End User data being transferred or stored outside South Africa. Please note that some places outside South Africa may offer lower levels of data protection than South Africa. By submitting End User Data, you agree to this transfer, storing or processing.

4.2. By submitting your End User Data:

4.2.1. you grant a worldwide, royalty-free, non-exclusive licence to use the anonymised End User Data (excluding any identifiable information such as name, address or contact information) to us and any third parties with which we may work with from time to time in the provision of our services;

4.2.2. Xago Technologies (Pty) Ltd will not share any identifiable or contact information on End Users with any third party for commercial reasons; and

4.2.3. 4.2.4. you represent and warrant that you have the lawful right to provide such End User Data and the necessary rights, power and authority to grant the licence at clause 4.2.1 above and you further represent and warrant that the use by us of the End User Data (excluding any identifiable information such as names, addresses or contact information) will not infringe the rights (including intellectual property rights) of any third party.

5. Intellectual Property

5.1. You acknowledge that we own or licence all legal rights, title and interest in and to Xago Technologies (Pty) Ltd, including any intellectual property rights which subsist in Xago Technologies (Pty) Ltd (whether those rights happen to be registered or not, and wherever in the world those rights may exist).

5.2. You agree not to use any of the trademarks, trade names, service marks, copyrights, logos, domain names, and/or other distinctive brand features belonging to us or any third party unless you have valid written permission to do so. You agree not to alter, remove or obscure any proprietary notices (including copyright and trademark notices) which may appear in or be held within Xago Technologies (Pty) Ltd.

5.3. In the event that your use of Xago Technologies (Pty) Ltd, if used in accordance with the User Terms, infringes any intellectual property rights of a third party, we may, at our sole discretion and expense, replace or modify Xago Technologies (Pty) Ltd so that it is no longer infringing or obtain for you the right to continue using Xago Technologies (Pty) Ltd. This therefore constitutes your sole remedy in relation to any such infringement.

6. Disclaimer and Limitation of Liability

6.1.Nothing in these User Terms, including this clause 6 shall exclude or limit any warranty or liability to the extent that the same may not be lawfully excluded or limited by applicable law, including liability for fraud or for death or personal injury caused by its negligence.

6.2. There are no conditions, warranties, representations or other terms, express or implied, that are binding on us except as specifically stated in these User Terms (including implied warranties and conditions of merchantability, fitness for a particular purpose and non-infringement). Any condition, warranty, representation or other terms concerning Xago Technologies (Pty) Ltd which might otherwise be implied into or incorporated in these User Terms, or any collateral contract, or whether by statute, common law or otherwise, is hereby excluded to the fullest extent permitted by law.

6.3. While we will use every effort to ensure that Xago Technologies (Pty) Ltd is available to you, you expressly understand that some of the functions of Xago Technologies (Pty) Ltd rely on an internet connection being sustained and the appropriate equipment being maintained. As such, you expressly understand and so agree that your use of Xago Technologies (Pty) Ltd is ‘as is’ and ‘as available’.

6.4. In particular, we do not represent or warrant to you that:

6.4.1. your use of Xago Technologies (Pty) Ltd (including such use in conjunction with any other software) will meet your requirements, or that your use of Xago Technologies (Pty) Ltd will be uninterrupted, timely, secure or free from error defects in the operation or functionality of Xago Technologies (Pty) Ltd;

6.4.2. any information obtained by you or by a third party as a result of your use of Xago Technologies (Pty) Ltd will be accurate or reliable; and/or

6.4.3. that defects in the operation or functionality of Xago Technologies (Pty) Ltd will be corrected, rectified or remedied.

6.5.Any material downloaded or otherwise obtained from or accessed through your use of Xago Technologies (Pty) Ltd is done so at your own discretion and risk, and you will be solely responsible for any damage, loss or prejudice to your computer system or other device or loss of data that results from the download or access of any such material.

6.6. In order for you to make use of Xago Technologies (Pty) Ltd, it may be necessary for you to use particular computer equipment or to download or install certain pieces of software. If you are unable to access all or part of Xago Technologies (Pty) Ltd because you do not have access to any necessary software or equipment, this will not constitute a breach of these User Terms by us and we shall not be liable for any loss, damage or expense which may result in your inability to access Xago Technologies (Pty) Ltd.

6.7. You expressly understand and agree that we and our licensors shall not be liable to you for:

6.7.1. any direct, indirect, special, incidental or consequential loss or damage which may arise in respect of your use of Xago Technologies (Pty) Ltd and/or its non-availability;

6.7.2. loss of profit, business revenue, goodwill and anticipated savings and/or job opportunities;

6.7.3. any trading or other losses which you may incur as a result of your or a third party’s reliance upon any content of Xago Technologies (Pty) Ltd or any Report associated with your use of Xago Technologies (Pty) Ltd;

6.7.4. the deletion or corruption of, or failure to store any content and other data maintained or transmitted by or through your use of Xago Technologies (Pty) Ltd; or

6.7.5. any effect which the use of Xago Technologies (Pty) Ltd may have on any software you use.

6.8. You agree and acknowledge that you are in a better position than us to foresee and evaluate any potential damage or loss which you may suffer in connection with your use of Xago Technologies (Pty) Ltd; that we cannot adequately insure against our potential liability to you; and that, accordingly, the exclusions and limitations contained in this clause 6 are reasonable. You also undertake at all times to mitigate any such damage or loss.

7. Term and Termination

7.1. This Agreement shall commence upon your acceptance of the User Terms and shall last for the duration of your continued use of Xago Technologies (Pty) Ltd.

7.2. Xago Technologies (Pty) Ltd may terminate the Agreement in its sole and absolute discretion with immediate effect.

7.3. Upon termination of the Agreement the following clauses shall apply:

7.3.1. the licence granted to you at clause 3.1 shall be immediately revoked;

7.3.2. all of the legal rights, obligations and liabilities that you and we have benefited from, been subject to (or which have accrued over time whilst the Agreement has been in force) or which are expressed to continue indefinitely, shall be unaffected by this cessation, and in particular, the provisions of clauses 3.2, 4, 5, 6, 7.3, 8 and 9 shall survive termination of this Agreement; and

7.3.3. we reserve the exclusive right and prerogative to retain, maintain, archive, protect, use or store any personal data or such information, without regards as to time or duration, as is strictly necessary to comply with our legal obligations, resolve disputes and enforce agreements.

8. General

8.1. You will not assign, transfer or sub-license any of your rights or obligations under these User Terms. We may at any time assign all or any of our rights and transfer all or any of our obligations under these User Terms.

8.2. Failure or neglect by us to enforce any of the provisions of these User Terms at any time shall not be construed or deemed to be a waiver of our rights, nor shall this in any way affect the validity of the whole or any part of these User Terms, nor prejudice our rights to take subsequent action.

8.3. If any part of any provisions of these User Terms shall be or become invalid, unlawful or unenforceable to any extent, then the remainder of such provisions and all other provisions of these User Terms shall continue to be valid and enforceable to the fullest extent permitted by law.

8.4. These User Terms represent the entire agreement between you and us in relation to the subject matter of these User Terms and neither of you nor us has relied upon any statement or representation made by the other in agreeing to enter this Agreement.

9. Risks

You should ensure that you understand the risks involved in buying, selling or trading cryptocurrencies. Cryptocurrency markets can be volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your assets. This market volatility and other risks involved in buying, selling or trading cryptocurrencies are explained on the risk warning page of the Xago website. There may be additional risks not identified in these Terms or in the risk warning.

You should carefully assess whether your financial situation and risk tolerance is suitable for buying, selling or trading cryptocurrency. You accept and agree that you are solely responsible for any decision to buy, sell, trade or otherwise hold or deal with cryptocurrency.

10. Deposits

Where your identity has been verified (in accordance with the Identity Verification requirements), you may deposit Local Currency into your Xago Wallet by depositing funds into a Xago bank account (a “Deposit”). The Xago bank account into which you make a Deposit will be a segregated account used exclusively for the purpose of holding and processing customer funds. Subject to these Terms, you retain a right to any funds you deposit into the Xago bank account until such time as your funds are used or withdrawn.

Details of the Xago bank account into which you must make the Deposit will be provided to you by Xago, and any such bank account will be held and operated by a Xago operating entity in your country or region. You accept and agree that any information you provide to Xago may be shared with such local entity, which will process Local Currency transactions in accordance with Xago’s instructions.

Due to legal and operational constraints, you must strictly adhere to the following Deposit requirements (the “Deposit Requirements”):

  • you may only make a Deposit from a Supported Deposit Method held in your own name. You must not allow any third party to make a Deposit into your Xago Wallet;
  • you may only Deposit Local Currency using a Supported Deposit Method compatible with the deposit methods available in your country or region;
  • you must not use cash or cheques to make a Deposit. Xago reserves the right to refuse any Deposit made by cash or cheque. Should Xago decide, in its sole discretion, to allow a Deposit by cash or cheque on an exceptional basis, the allocation of such Deposit will be delayed to allow fraud and compliance checks to take place, and a Cash Deposit Penalty (see the Fees and Features page of the Xago website) may be deducted from it. Any Xago Account that receives more than one cash or cheque deposit may, at Xago’s sole discretion, be suspended indefinitely.

You agree to abide by the Deposit Requirements and agree and accept that failure to do so may cause a delay in or failure of any Deposit reflecting in your Xago Wallet, and/or restriction, suspension or termination of your Xago Account.

Allocation of deposits
When you request to make a Deposit through your Xago Wallet, you will be provided with a Reference Number or Unique Deposit Amount. To permit the timely and successful allocation of a Deposit to your Xago Wallet, you must use the Reference Number or Unique Deposit Amount when you make a deposit using a Supported Deposit Method. Xago will not be responsible for any delay in or non-allocation of Deposits to your Xago Wallet where you fail to specify the required Reference Number or Unique Deposit Amount.

Deposits may take time to reflect in your Xago Wallet due to bank processing times, operational processes, and/or failure by you to adhere to the Deposit Requirements. Under no circumstances will Xago have any liability to you in relation to any delay in or failure of a Deposit reflecting in your Xago Wallet.

Xago will make all reasonable efforts to allocate Deposits that do not meet the Deposit Requirements. However, any Deposits less than the Minimum Unallocated Deposit Amount that cannot be allocated within a one month period will be retained by Xago and you accept and agree that you shall have no further claim or entitlement to such funds. The Minimum Unallocated Deposit Amount shall until otherwise determined by Xago be R10.00 or the equivalent in your Local Currency.

11. Withdrawals

Where you have added your bank account details to your Xago Account, you may withdraw funds from your Xago Wallet to your bank account (a “Withdrawal”). Xago will process Withdrawals in accordance with your instructions. You are solely responsible for ensuring that any Withdrawal instructions provided to Xago, including the relevant bank account number, are complete and correct and you accept and agree that under no circumstances will Xago be under any obligation to reverse or amend any Withdrawal.

Xago will make all reasonable efforts to process Withdrawals each business day, in accordance with the Deposit and Withdrawal Schedule on the Xago website, but you accept and agree that Xago provides no guarantee in relation to the Withdrawal processing period.

Withdrawals to the bank account of any third party are expressly prohibited. You agree not to make, or attempt to make, any Withdrawal of funds from your Xago Wallet to the bank account of a third party and accept that any such Withdrawal may be refused and/or result in the restriction, suspension or termination of your Xago Account.

12. Law and Jurisdiction

12.1. These User Terms shall be construed in accordance with South African law and the parties hereby submit to the exclusive jurisdiction of the South African High Court to settle any disputes which may arise in connection with these User Terms.