Terms of Use and Privacy Policy

Terms of UsePlease read this terms of use agreement (the “Terms”) carefully as they form a binding legal agreement between you and Beam Foundation Limited (“Beam”, “us” , “we”, “our”), that governs the use of the digital wallet developed by Beam that allows to store, track, transfer and manage virtual currency (the “Software” or “Beam Wallet”). The term “you” refers to the person accessing or using the Software, or the entity or organisation on whose behalf such person access our Software.1. Risks Related to the Use of the Software. Beam is not be responsible for any losses, damages or claims arising from events falling within the scope of the following: (i) mistakes made by you of any Software, forgotten passwords, payments sent to wrong Wallet Address (as deifned below), and accidental deletion of Beam Wallets; (ii) software problems, e.g., corrupted Beam Wallet file, incorrectly constructed transactions, unsafe cryptographic libraries, malware affecting the Software; (iii) technical failures in the hardware of any Software, e.g., data loss due to a faulty or damaged storage device; (iv) security problems experienced by you of the Software, e.g., unauthorised access to your Beam Wallets and/or accounts. Beam cannot recover passwords or unlock account information stored on the Software in any circumstances, including if the Software is compromised by malware on your computer, and it is your sole responsibility to take all reasonable precaution to secure and backup your copy of the Software and the information stored on it; or (v) actions or inactions of third parties and/or events experienced by third parties, e.g., bankruptcy of service providers, information security attacks on service providers, and fraud conducted by third parties. Beam is not be responsible “Wallet Address” means a cryptographic public private key pair, typically used in context of virtual currency for the purpose of holding funds denominated in that virtual currency. 2. Software Updates. The Software is evolving and you may be required to accept or install updates to the Software, or update third party software (i.e., browsers or OS) in order to keep using the Software or access their latest features, including security updates. Beam may update the Software at any time, without providing notice. 3. Compliance with Tax Obligations. The users of the Software are solely responsible to determinate what, if any, taxes apply to their transactions performed through Beam Wallet. We are not responsible for determining the taxes that apply to transactions. 4. Trademarks and Trade Names. Beam marks and logos and all other proprietary identifiers used by Beam in connection with the Software (“Trademarks”) are all trademarks and/or trade names of Beam, whether or not registered. All other trademarks, service marks, trade names and logos which may appear on the Software belong to their respective owners (“Third Party Marks”). No right, license, or interest to Beam Trademarks and the Third Party Marks is granted hereunder, and you agree that no such right, license, or interest may be asserted by you with respect thereto and therefore you will avoid using any of those marks. 5. License. The Software is licensed under Apache License. Full text of the license can be at: https://www.apache.org/licenses/LICENSE-2.0. Subject to the terms of this license, Beam grants you a non-transferable, non-exclusive, worldwide, royalty-free copyright license to reproduce the software for reference use and a non-transferable, non-exclusive, worldwide, royalty-free patent license under licensed patent for reference use. The license does not grant you any right to use Beam's name, logo or trademark. The Software is licensed "as-is". In the event of inconsistency between the Apache License and the Terms, the terms under the Apache License will prevail. 6. Privacy Policy. We do NOT collect any data about you, the app also do NOT collect any anonymous or statistical data. 7. Warranty Disclaimers. 8. The Software is provided on an "as is" and "as available" basis, and without warranties of any kind either express or implied. Beam hereby disclaims all warranties, express or implied, including but not limited to implied warranties of merchantability, title, fitness for a particular purpose, non-infringement, and those arising by statute or from a course of dealing or usage of trade. Beam does not guarantee that the Software will be free of bugs, security breaches, or virus attacks. The Software may occasionally be unavailable for routine maintenance, upgrading, or other reasons. You agree that Beam will not be held responsible for any consequences to you or any third party that may result from technical problems of the internet, slow connections, traffic congestion or overload of our or other servers. We assume no liability for any computer virus or other similar software code that is downloaded to your computer or phone from the Beam Wallet or in connection with any services or materials offered through Beam Wallet. No information, whether oral or written, obtained by you from us or through or from the Beam Wallet shall create any warranty nit expressly stated in this Terms. 9. Any deals or interaction you may have with other wallets users are at your own risk. We will not be responsible for any harm caused to you by virtue of your interaction or dealing with another user or otherwise by virtue of your use of the wallet. Your reliance on, or use of, or interaction with us or any Beam Wallet's user, is at your sole risk. If you have a dispute with any Beam Wallet's in connection with the Software, you agree that Beam is not liable for any claims or damages arising out of or connected with such a dispute. Beam reserves the right but has no obligation, to monitor any such dispute. 10. Except as expressly stated in our privacy policy, Beam does not make any representations, warranties or conditions of any kind, express or implied, as to the security of any information you may provide or activities you engage in during the course of your use of the Software. 11. You understand and agree that the Software shall be used only for legal activities. You are prohibited from using the Software for the purpose of selling or acquiring any illegal product or services. You further understand that Software serves merely as cryptocurrencies wallet to enable you to make and receive cryptocurrency payments; we do not function as a cryptocurrency or fiat currency exchange. 12. Limitation of Liability. To the fullest extent permissible by law, Beam shall not be liable for any direct, indirect, exemplary, special, consequential, or incidental damages of any kind, or for any loss of data, revenue, profits or reputation, arising under this Terms or out of your use of, or inability to use, the Software, even if Beam has been advised of the possibility of such damages or losses. 13. Term and Termination. This Terms is effective until terminated by Beam or you. Beam, in its sole discretion, has the right to terminate this Terms and/or your access to the Software, or any part thereof, immediately at any time and with or without cause (including, without any limitation, for a breach of this Terms). Beam shall not be liable to you or any third party for termination of the Software, or any part thereof. If you object to any term or condition of this Terms, or any subsequent modifications thereto, or become dissatisfied with the Software in any way, your only recourse is to immediately discontinue use of the Software. Upon termination of these Terms, you shall cease all use of the Software. This Section 9 and Sections 4 (Trademarks and Trade Names), 6 (Privacy), 7 (Warranty Disclaimers), 8 (Limitation of Liability) shall survive termination of this Terms. 14. Indemnification. You hereby warrant, represent and agree to indemnify, hold Beam harmless and to indemnify Beam and its respective affiliates, officers, directors, employees and agents from and against any and all claims, damage, obligations, liabilities, loss, expense, legal expense (including but not limited to attorney's fees) or cost incurred as a result of (i) your use of or inability to use the Software; (ii) your violation of these Terms, including any false representation; and/or (iii) data protection laws, regulations or obligations. 15. Governing Law. Beam reserves the right to discontinue or modify any aspect of the Software at any time. This Terms and the relationship between you and Beam shall be governed by and construed in accordance with the laws of Singapore, without regard to its principles of conflict of laws, and only the courts in Singapore, shall have jurisdiction in any conflict or dispute arising out of this Terms. 16. Modification**.** Beam reserves the right, at our discretion, to change these this Terms at any time. Such change will generally be effective ten (10) days following posting of the revised Terms on our Website, and your continued use of the Software thereafter means that you accept those changes. 17. Assignment. This Terms, and any rights and licenses granted hereunder, may not be transferred or assigned by you but may be assigned by Beam without restriction or notification to you. Any prohibited assignment shall be null and void.YOU AGREE THAT ANY CAUSE OF ACTION THAT YOU MAY HAVE ARISING OUT OF OR RELATED TO THE SOFTWARE MUST COMMENCE WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES. OTHERWISE, SUCH CAUSE OF ACTION IS PERMANENTLY BARRED.Last Updated: May15, 2020