“Provider”: inflow s.r.o., with registered office at Bucharova 2657/12, 158 00 Prague 5 Stodůlky, ID No.: 06631363, registered with the Commercial Register administered by the Municipal Court in Prague under the file number C 285787.

“Client”: User undertaking the exchange (purchase or sale) of the statutory currency for cryptocurrency or vice versa on the https://inflow-business.cz/ website. The Client is a fully capable legal natural person over 18 years of age or a legal person who is a recipient of services under these Terms and Conditions.

“Wallet”: An electronic repository used to store cryptocurrency, identified by a unique electronic address.

. “AML”: The Act No. 253/2008 Coll., on Certain Measures against the Legalization of Proceeds of Crime and Terrorist Financing, as amended.

„Cryptocurrency“: A virtual asset as defined under AML.

The Provider is the operator of the https://inflow-business.cz/ website. Through the https://inflow-business.cz/ website, the Provider provides the Clients with an intermediation service for simple and efficient exchange (buying and selling) of Cryptocurrencies for legal currency.

The Contract for mediation of purchase or sale of Cryptocurrency between the Provider and the Client is concluded at the moment of delivery of the order confirmation by the Provider to the Client electronically to the specified e-mail or by any other appropriate means.

The fee for mediation of exchange (purchase or sale) of legal currency for Cryptocurrency or vice versa is 3,5% of the order volume. This fee includes payments to third parties.

The Client shall pay the fee to the Provider at the same time as the payment for the ordered exchange of Cryptocurrency.

The Client is entitled to withdraw from the contract on mediation of purchase or sale of Cryptocurrency concluded with the Provider only until the moment of payment for the order.

In the event of withdrawal after payment or transfer of the Cryptocurrency to the Provider’s Wallet, when the Provider has not yet executed the trade according to the Client’s order, the Client may withdraw from the Contract, but in such case the Provider may charge a transaction fee for processing the order by the Provider in the amount of 0.6% of the order volume.

Due to constant changes in the market value of Cryptocurrencies, the Client hereby acknowledges and understands that the Cryptocurrencies purchased by it may lose value due to market developments and changes (in particular supply and demand). The Provider shall only be responsible for the execution of the exchange as instructed by the Client and shall not be liable for any change in the value of the purchased Cryptocurrency after the exchange.

The right to withdraw from the Contract in cases where the Provider fails to provide the agreed performance, provides only partial performance, or in other cases specified in these Terms and Conditions, is not affected.

The Provider shall be entitled to withdraw from the Contract on mediation of purchase or sale of Cryptocurrencies concluded with the Client without giving any reason at any time until the subject of the order is delivered to the Client, in particular due to insufficient liquidity, interruption of power supply, interruption of the internet connection on the Provider’s side, interruption of the operation of the Cryptocurrency exchange, significant market fluctuations (Cryptocurrency price) or in case of force majeure events.

If the contract cannot be fulfilled after the order has been duly paid for any reason on the Provider’s side, the Provider shall without undue delay return the entire amount paid to the account from which the payment was made.

If the contract cannot be fulfilled after the proper transfer of the Cryptocurrency to the Provider’s Wallet according to the order for any reason on the Provider’s side, the Provider shall without undue delay return the amount of the Cryptocurrency back to the Wallet from which the transaction was made.

The Client hereby assumes the risk of change of circumstances within the meaning of Section 1765(2) of Act No. 89/2012 Coll., Civil Code (hereinafter referred to as the „Civil Code“).

The Provider informs the Client – consumer that after the funds or Cryptocurrency have been transferred pursuant to Article 2(c)(iv) of these Terms and Conditions, it is possible to withdraw from the contract only if the Provider has not already executed the exchange according to the Client’s order and also only after payment of the transaction fee pursuant to Article 3(b). It is not possible to withdraw from the concluded contract without stating legal reasons because the purchase of the Cryptocurrency fulfils the conditions of Section 1837 of the Civil Code, in particular points a), b), d), l), see the wording of this provision below.

Pursuant to Section 1837 of the Civil Code: The consumer cannot withdraw from a contract a) for the provision of services if they have been performed with his/her prior express consent before the expiry of the withdrawal period and the entrepreneur has informed the consumer before the conclusion of the contract that in such a case he/she has no right to withdraw from the contract, b) for the supply of goods or services the price of which depends on financial market fluctuations independent of the entrepreneur’s will and which may occur during the withdrawal period, d) for the supply of goods which have been adapted to the consumer’s wishes or to his/her person, l) for the supply of digital content, unless it has been supplied on a tangible medium and has been supplied with the prior express consent of the consumer before the expiry of the withdrawal period and the entrepreneur has informed the consumer before the conclusion of the contract that in such a case, he/she has no right of withdrawal.

According to AML, the Provider is an obliged person who is ordered by the AML to implement measures against the laundering of proceeds of crime and terrorist financing. To this end, it shall comply with the obligations set out in the legislation in this area, with the aim of preventing the misuse of any of the Provider’s products to launder the proceeds of crime and terrorist financing.

All transactions carried out are checked in accordance with AML and the Provider is obliged to report suspicious transactions to the Financial Analysis Authority. A contact person has been designated for this purpose in accordance with Section 22 of AML.

The AML directs the Provider to comply with its obligations in relation to Clients. These obligations include, in particular, the identification and control of the Client. In order to carry out the identification and control of the Client under AML, the Provider may collect and process the Client’s personal data and make copies of identity cards and other documents without the Client’s consent.

The Provider informs the Client that when requesting the purchase or sale of Cryptocurrency, the Provider must carry out identification or verification of the Client based on the provisions of AML. The Client’s verification will be done by providing a digital copy of the Client’s personal document, a copy of the Client’s bank account statement, sending a video confirming the Client’s identity and filling in the registration details displayed in the user interface. The Client acknowledges that it is not possible to proceed with requests to buy or sell Cryptocurrency without completing the required information.

Identification of the Client – a legal entity is based on information from the document proving the existence of the legal entity (extract from the Commercial Register or other public register, if applicable). The following identification data shall be ascertained and recorded in the case of a natural person in order to establish and verify his/her identity, which shall be deemed to be the data within the scope of the preceding paragraph. Where another legal person is the statutory body, member or controlling person of the legal person, the data of that legal person shall also be ascertained and recorded. In the case of foreign legal persons, the articles of association or other similar document, documents to prove the origin (source) of funds and, where applicable, confirmation of tax residence (tax domicile) may also be required. The Provided may also require the Client to provide other information necessary for verification depending on the risk assessment of the Client.

The Provider is obliged under AML to refuse to execute a transaction in case of suspicion that the purchase (exchange) in question leads to laundering of proceeds of crime or financing terrorism. The Provider has its own internal system of rules by means of which it assesses the risk of each purchase (exchange) and reserves the right to refuse to execute the transaction at its own discretion or in cases specified by the AML where it is obliged to do so.

The Provider shall have the right to re-identify and check the Client at any time in accordance with AML, to check the Client’s identity document(s), or other required documents, to request proof or origin of the money, or – if the Client is itself and obliged person – to verify the policies and measures adopted by the Client against money laundering or terrorist financing.

In the event of non-cooperation by the Client or in the event of suspicion that a given trade is a suspicious trade within the meaning of AML, the Client’s funds will be converted at the current market price into the legal currency or Cryptocurrency in which the Client has provided funds for the purpose of the exchange. The Client’s funds will then be sent back to the Client’s Account or Wallet, unless the Provider receives instructions to the contrary from the Financial Analytical Office. Due to the dynamic nature of the market, the amount returned (number of units of Cryptocurrency) may change when funds are converted. If there is a risk that the immediate execution of the Client’s order could frustrate or substantially impeded the seizure of proceeds of crime or funds intended for the financing of terrorism, the Provider may execute the Client’s order regarding the suspicious trade no earlier than 24 hours after the notification of the suspicious trade to the Financial Analysis Office.

By agreeing to these Terms and Conditions, the Client declares, inter alia, that he/she has chosen to use the Provider’s service for one or all of the following reasons: - appreciation of its assets and speculation, - purchase of Cryptocurrency from other persons and subsequent conversion into fiat currencies, - purchase of Cryptocurrency and subsequent payment for the purchase of goods or services in Cryptocurrency, - converting fiat currency into Cryptocurrency.

The Client undertakes that if none of the above reasons corresponds to his/her interest in using the Provider’s service, he/she shall immediately inform the Provider of the specific reason for using this service. The Client acknowledges that the Provider is obliged to examine the sources of funds or other assets related to trades executed by the Provider according to the Client’s instructions on the basis of AML.

In consideration of the foregoing, the Client represents that the source of funds or property is one or more of the following: - income from business or gainful activity, - loan, - gift, - prize, - inheritance, - income from the sale of other property.

The Client undertakes that if none of the above sources of funds or property corresponds to the reality, he/she shall immediately inform the Provider of the specific source of funds or property. The Provider is entitled to request the Client to supplement the information and documents obtained.

The Provider is obliged, in certain cases provided for by law, to request proof of identity from the Client and to obtain, process and store the Client’s personal data. This obligation is imposed on the Provider by the AML. The Provider is also entitled to collect and process the Client’s personal data for the purpose of fulfilling its obligations under the contractual relationship with the Client, even without the Client’s consent.

The Provider is obliged to comply with the principles of protection of personal data according to generally binding legal regulations, in particular the obligations set out in Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) – (hereinafter referred to as „GDPR“), and to take such measures to prevent unauthorized access to personal data, as well as other misuse of personal data.

Processing and storage of personal data shall take place exclusively at the Provider’s premises and, where applicable, at the Provider’s headquarters and shall be carried out exclusively by the Provider’s employees. The data will not be passed on to any other person except in the situations provided for by the applicable legal regulations.

Personal data are associated with data relating to the service provided (e.g. type, its parameters, etc.), data necessary to comply with the legal information obligation. Personal data may also include identification data of other persons associated with the service provided, e.g. other natural persons representing the Client by law or power of attorney, etc. In addition to the personal data obtained directly from the Client, personal data is obtained from publicly accessible records, registers and lists (land register, commercial register, insolvency register, etc.).

The processing of personal data is carried out manually and automatically in electronic information systems, in electronic or paper form, always with high technical, organisational and personnel security in accordance with the requirements of the Personal Data Protection Act.

Personal data shall be processed to the extent that they have been provided or to the extent that the Provider is entitled or obliged to ascertain them on the basis of legal regulations. Personal data shall be processed for the period of time for which the Provider is obliged or entitled to keep the data in question pursuant to generally binding legal regulations; the same shall apply if the service is not provided.

In addition to the Provider, personal data may also be disclosed to other persons, but only if they have a legitimate reason for accessing the personal data (e.g. law enforcement authorities, other controlling authorities with a legal mandate to access information) or if it is necessary to protect the Provider’s rights.

The Client has the right, in the cases provided for by the GDPR, to request information about what personal data is processed and to request a copy of such data; to request access to such data and to have it updated or corrected, or to request a restriction on its processing; to request the erasure of personal data; and/or to lodge a complaint with the Data Protection Authority or to apply to the courts.

If the Client requests information about processing of his/her personal data, the Provider is obliged to provide the Client with this information without undue delay; the Provider may request a reasonable free not exceeding the costs necessary to provide the information If the Client discovers or believes that the Provider is processing his/her personal data in violation of the protection of the Client’s private and personal life or in violation of the law, in particular if the personal data are inaccurate with regard to the purpose of their processing, he/she may ask the Provider for an explanation or request that the company remedy the situation. In particular, this may involve blocking, correcting, supplementing or destroying the personal data. If this request of the Client is found to be justified, the Provider shall immediately remove the defective condition.

The Provider shall regulate in detail its information obligation towards the Client within the meaning of Article 13 of the GDPR related to the processing of the Client’s personal data for the purposes of performance of the Contract, for the purposes of the Contract negotiations and for the purposes of performance of the Provider’s public law obligations by means of a separate document.

The Provider warns that the content of its website on which it offers services may contain outdated information, errors or inaccuracies and reserves the right to correct, modify or update the content of the website if it deems it necessary or appropriate.

Any information available on the Provider’s website does not constitute investment, tax, legal or other advice, or a proposal to enter into a contract for the provision of financial, investment or other services, or any other proposal by the Provider to a prospective Client.

The Provider does not provide any recommendations to Clients regarding the purchase and sale of Cryptocurrencies, investment research or financial analysis or similar services. Any information provided on the Provider’s website is not intended to be a recommendation and is only intended to make the information available to the potential Client free of charge.

The Provider is not obliged to ensure the continuous accessibility of the website and does not guarantee any minimum response time of the website to the Client’s requests. The operation and functionality of the website may be affected by factors outside the Provider’s sphere of influence and the Provider does not accept responsibility for their consequences.

When registering on the website and when conducting transactions, the Client is obliged to provide all the information correctly and truthfully. The Client is obliged to update the information provided in the User Account upon any change thereof. The information provided by the Client in the User Account and when executing trades shall be deemed correct by the Provider. By registering, the Client agrees and undertakes to provide the Provider with up-to-date, true and complete information, in particular during registration and for trading purposes. Furthermore, the Client agrees and undertakes to use only one User Account and not to use User Accounts set up for other Clients.

The Client shall not allow access to his/her User Account to third parties, nor shall he/she disclose any information regarding his/her User Account to third parties. Access to the User Account is secured by a username and password together with two-factor authentication using a passcode sent to the telephone number provided by the Client as part of the registration process. The Client shall maintain confidentiality regarding the information necessary to access his/her User Account.

The Provider reserves the right to unilaterally change the Terms and Conditions. Such a change of the Terms and Conditions shall be effective only with respect to contracts or orders of the Clients concluded or made after the effective date of the amended Terms and Conditions. Contracts or orders concluded or made prior to the effective date of the amended Terms and Conditions shall be governed by the existing version of the Terms and Conditions.

Any legal relations arising out of or resulting from the use of the Provider’s services shall be governed by the law of the Czech Republic.

The Provider is interested in resolving any disputes with Clients primarily by mutual agreement and amicable means. In the event that it is not possible to resolve a dispute amicably, the courts of the Czech Republic shall have jurisdiction to resolve disputes. The Czech Trade Inspection Authority is the competent authority for the supervision of compliance with the obligations laid down for consumer protection.

By placing an order, the Client agrees to these Terms and Conditions.

If any provision of the Terms and Conditions is or becomes invalid or ineffective, the invalid provision shall be replaced by a provision whose meaning is as close as possible to the invalid provision. The invalidity or ineffectiveness of one provision shall not affect the validity of the other provisions.

The Terms and Conditions come into force on 08 November 2021 and are available in electronic form.