TERMS & CONDITIONS

 

These Terms govern your use of our App and Hardware.  Please read these Terms of Service (the “Terms”) and our Privacy Policy (https://webview.cobo.com/internal/vault/pp) (“Privacy Policy”) carefully because they govern your use of our mobile device application (“App”), our Wallet (as defined below), and any equipment supplied by Cobo for use with the Wallet and the App (“Hardware”). These Terms and the documents that are referred to herein constitute a binding obligation between you and Cobo Global HK Limited, the seller of Cobo Vault. To make these Terms easier to read, App, Wallet, Hardware and our associated services are collectively called the “Services.” A “Virtual Currency” is any blockchain-based currency or token such as Bitcoin. The use of our website located at https://cobo.com (the “Site”) is governed by our general website terms of use [https://webview.cobo.com/internal/des/toc].

1.              Agreement to Terms. By using our Services, you agree to be bound by these Terms. If you don’t agree to be bound by these Terms, do not use the Services. If you are accessing and using the Services on behalf of a company (such as your employer) or other legal entity, you represent and warrant that you have the authority to bind that company or other legal entity to these Terms. In that case, “you” and “your” will refer to that company or other legal entity. These Terms constitute the entire agreement between Cobo and you with respect to this Services and it supersedes all prior or contemporaneous communications, agreements and understandings between Cobo and you with respect to the subject matter hereof.

2.              Privacy Policy. Please refer to our Privacy Policy for information on how we collect, use and disclose information from our users. You acknowledge and agree that your use of the Services is subject to our Privacy Policy.

IMPORTANT NOTICE REGARDING ARBITRATION: WHEN YOU AGREE TO THESE TERMS YOU ARE AGREEING (WITH LIMITED EXCEPTION) TO RESOLVE ANY DISPUTE BETWEEN YOU AND COBO THROUGH BINDING, INDIVIDUAL ARBITRATION RATHER THAN IN COURT. PLEASE CAREFULLY REVIEW THE “DISPUTE RESOLUTION” SECTION BELOW FOR DETAILS REGARDING ARBITRATION (INCLUDING THE PROCEDURE TO OPT OUT OF ARBITRATION).

3.              Changes to Terms or Services. We may update the Terms at any time, in our sole discretion. If we do so, we’ll let you know either by posting the updated Terms on the Site or through other communications. It’s important that you review the Terms whenever we update them or you use the Services. If you continue to use the Services after we have posted updated Terms, you are agreeing to be bound by the updated Terms. If you don’t agree to be bound by the updated Terms, then, except as otherwise provided the “Dispute Resolution” Section you may not use the Services anymore. Because our Services are evolving over time we may change or discontinue all or any part of the Services, at any time and without notice, at our sole discretion.

4.              Who May Use the Services?

(a)            Eligibility. You may use the Services only if you are 18 years or older, capable of forming a binding contract with Cobo) and are not barred from using the Services under applicable law.

(b)            Registration and Your Information. If you want to use certain features of the Services you’ll have to create an account (“Account”). You can do this via the Site or through your account with certain third-party social networking services such as Facebook or Twitter (each, an “SNS Account”). If you choose the SNS Account option we’ll create your Account by extracting from your SNS Account certain personal information such as your name and email address and other personal information that your privacy settings on the SNS Account permit us to access.

(c)            Accuracy of Account Information. It’s important that you provide us with accurate, complete and up-to-date information for your Account and you agree to update such information to keep it accurate, complete and up-to-date. If you don’t, we might have to suspend or terminate your Account. You agree that you won’t disclose your Account password to anyone and you’ll notify us immediately of any unauthorized use of your Account. You’re responsible for all activities that occur under your Account, whether or not you know about them.

5.              Hardware, Wallet and Description of Services.

(a)            General. Cobo offers a hierarchical deterministic Virtual Currency wallet that implements the BIP44 blockchain protocol (“Wallet”). It is powered by Hardware in which a tablet-like device containing a security chip randomly generates a 24-word mnemonic phrase (“Mnemonic Phrase”) and master seed to derive pairs of private and public keys to manage Virtual Currencies.

(b)            Use of the Services with Virtual Currency. Please note that neither the Wallet nor do any of the Services “hold” Virtual Currency, but rather facilitates the interaction between the holder of the Virtual Currency and the underlying blockchain network that processes the transactions. Public keys allow you to receive and deposit Virtual Currency, whereas private keys allow you to send Virtual Currency outside of your account. To complete a Virtual Currency transaction, a user downloads the App on a mobile device, begins a transaction, and generates a QR code that is scanned by the Wallet, which will then  complete the transaction by providing the private key for signature authority (provided however, that the user must control the Mnemonic Phrase and any other necessary passwords and details). After the transaction is signed by the Wallet, it generates a QR code that is scanned by the App on the mobile device, which then broadcasts the transaction to the blockchain via the internet. The App can only be used in conjunction with the Wallet and for no other purpose.

(c)            Passwords. The Mnemonic Phrase and any password that you select in connection with your use of the Wallet is not known or otherwise stored by Cobo. Using the Mnemonic Phrase, your private key can be recovered on any BIP44-compatible wallet. IF YOU LOSE OR OTHERWISE FORGET YOUR MNEMONIC PHRASE, THEN NEITHER YOU NOR COBO WILL BE UNABLE TO RETRIEVE YOUR PRIVATE KEY, as the Wallet hardware is designed to resist tampering. The Wallet is designed to be separated and unconnected from the internet to provide further security against hacking, however no solution is theft-proof, including the Wallet.

(d)            Firmware. In order to support certain functionality, such as new forks of Virtual Currency, firmware upgrades will be needed to be installed onto the Wallet per any instructions by Cobo.

(e)            Sole Responsibility. YOU ARE SOLELY RESPONSIBLE FOR MAINTAINING THE SECURITY AND AVAILABILITY OF YOUR MNEMONIC PHRASE, PRIVATE KEY AND ANY OTHER PASSWORDS ASSOCIATED WITH YOUR WALLET. IT IS RECOMMENDED THAT YOU TAKE APPROPRIATE SAFEGUARDS TO ENSURE SUCH SECURITY, WHICH MAY INCLUDE MAINTAINING A SAFETY DEPOSIT BOX AT A REPUTABLE FINANCIAL INSTITUTION.  FAILURE TO DO SO MAY RESULT IN THE LOSS OF CONTROL OF VIRTUAL CURRENCY ASSOCIATED WITH THE WALLET.

6.              Virtual Currency Transactions.

(a)            Transactions. In order to be completed, all proposed Virtual Currency transactions must be confirmed and recorded in the Virtual Currency public ledger associated with the relevant Virtual Currency network. Such networks are decentralized, peer-to-peer networks supported by independent third-parties, which are not owned, controlled or operated by Cobo. Virtual Currency networks are operated by decentralized networks of independent third parties. Cobo has no control over any Virtual Currency network and therefore cannot and does not ensure that any transaction details you submit via the Services will be confirmed via the relevant Virtual Currency network. You acknowledge and agree that the transaction details you submit via the Services may not be completed, or may be substantially delayed, by the Virtual Currency network used to process the transaction.

(b)            No Storage or Transfer of Title of Virtual Currency. A Virtual Currency is an intangible, digital asset. They exist only by virtue of the ownership record maintained in the underlying Virtual Currency network. The Services do not store, send or receive Virtual Currency. Any transfer of title that might occur in any Virtual Currency occurs on the decentralized ledger within the Virtual Currency network and not within the Services. We do not guarantee that the Service can affect the transfer of title or right in any Virtual Currency.

(c)            No Cancellations or Modifications. Once transaction details have been submitted to the Virtual Currency network via the Services, the Services cannot assist you to cancel or otherwise modify your transaction details. Cobo has no control over any Virtual Currency network and does not have the ability to facilitate any cancellation or modification requests.

7.              Disclaimers.

(a)            No Password Retrieval. Cobo does not receive or store your Wallet Password, Mnemonic Phrase, or the unencrypted keys and addresses. Therefore, we cannot assist you with Wallet Password retrieval. Our Services cannot generate a new Password for your Wallet. You are solely responsible for remembering your Wallet Password and Mnemonic Phrase. If you have not safely stored a backup of any Wallet Addresses and Mnemonic Phrase maintained in your Wallet, you accept and acknowledge that any Virtual Currency you have associated with such Wallet Addresses will become inaccessible if you do not have your Wallet Password and/or Mnemonic Phrase.

(b)            Discontinuation of the Services. We may, in our sole discretion and without cost to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services. You are solely responsible for storing, outside of the Services, a backup of any Mnemonic Phrase, private key or other associated passwords, as you may not be able to access Virtual Currency maintained in your Wallet in the event that we discontinue or deprecate the Services.

(c)            Relationship. Nothing in these Terms is intended to nor shall create any partnership, joint venture, agency, consultancy or trusteeship, you and Cobo being with respect to one another independent contractors.

(d)            Accuracy of Information; Responsibility for Activities. You represent and warrant that any information you provide via the Services is accurate and complete. You accept and acknowledge that Cobo is not responsible for any errors or omissions that you make in connection with any Virtual Currency transaction initiated via the Services, for instance, if you mistype a public key or otherwise provide incorrect information. We strongly encourage you to review your transaction details carefully before completing them via the Services. You hereby accept and acknowledge that you take responsibility for all activities that occur under your Wallet and accept all risks of any authorized or unauthorized access to your Wallet, to the maximum extent permitted by law.

(e)            Taxes. It is your responsibility to determine what, if any, taxes apply to the transactions you for which you have submitted transaction details via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that Cobo is not responsible for determining whether taxes apply to your Virtual Currency transactions or for collecting, reporting, withholding or remitting any taxes arising from any Virtual Currency transactions.

(f)             Disclaimer. THE SERVICES, HARDWARE AND CONTENT ARE PROVIDED “AS IS,” WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, TO THE FULLEST EXTENT OF THE LAW, WE EXPLICITLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT AND NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. We make no warranty that the Services will meet your requirements or be available on an uninterrupted, secure, or error-free basis. We make no warranty regarding the quality, accuracy, timeliness, truthfulness, completeness or reliability of any Content.

8.              Feedback. We welcome feedback, comments and suggestions for improvements to the Services (“Feedback”). You can submit Feedback by emailing us at [support@cobo.com]. You grant to us a non-exclusive, transferable, worldwide, perpetual, irrevocable, fully-paid, royalty-free license, with the right to sublicense, under any and all intellectual property rights that you own or control to use, copy, modify, create derivative works based upon and otherwise exploit the Feedback for any purpose.

9.              Content Ownership, Responsibility and Removal.

(a)            Definitions. For purposes of these Terms: (i) “Content” means text, logos, service marks, trade names, domain names, URLs and icons graphics, images, music, software, audio, video, works of authorship of any kind, and information or other materials that are posted, generated, provided or otherwise made available through the Services; and (ii) “User Content” means any Content that Account holders (including you) provide to be made available through the Services. Content includes without limitation User Content.

(b)            Our Content Ownership. Cobo does not claim any ownership rights in any User Content and nothing in these Terms will be deemed to restrict any rights that you may have to use and exploit your User Content. Subject to the foregoing, Cobo and its licensors exclusively own all right, title and interest in and to the Services and Content, including all associated intellectual property rights. You acknowledge that the Services and Content are protected by copyright, trademark, and other laws of the United States and foreign countries. You agree not to remove, alter or obscure any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying the Services or Content.

(c)            Rights in User Content Granted by You. By making any User Content available through the Services you hereby grant to Cobo a non-exclusive, perpetual, transferable, worldwide, royalty-free license, with the right to sublicense, to use, copy, modify, distribute, publicly display, publicly perform, distribute, and if applicable, create derivative works based upon your User Content in connection with operating and providing the Services and Content to you and to other Account holders. You agree that we can use any User Content to help us to analyze and improve the Services, and that we may aggregate and anonymize User Content, including pricing information, and own such resulting information and use it for any lawful purpose, including disclosing it to third parties.

(d)            Your Responsibility for User Content. You are solely responsible for all your User Content. You represent and warrant that you own all your User Content or you have all rights that are necessary to grant us the license rights in your User Content under these Terms. You also represent and warrant that neither your User Content, nor your use and provision of your User Content to be made available through the Services, nor any use of your User Content by Cobo on or through the Services will infringe, misappropriate or violate a third party’s intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation.

(e)            Removal of User Content. You can remove your User Content by specifically deleting it. However, in certain instances, some of your User Content (such as posts or comments you make) may not be completely removed and copies of your User Content may continue to exist on the Services. We are not responsible or liable for the removal or deletion of (or the failure to remove or delete) any of your User Content.

(f)             Rights in Content Granted by Cobo. Subject to your compliance with these Terms, Cobo grants to you, a limited, non-exclusive, non-transferable license, with no right to sublicense, to download, view, copy, display and print the Content solely in connection with your permitted use of the Services and solely for your personal and non-commercial purposes. For clarity, this license will immediately terminate upon any termination or expiration of these Terms.

10.           Claims of Infringement

(a)            Cobo respects the intellectual property of others and requires that you do the same. In accordance with the Digital Millennium Copyright Act ("DMCA"), the text of which may be found on the United States Copyright Office website located at http://www.copyright.gov/legislation/dmca.pdf, Cobo will respond expeditiously to notices of alleged copyright infringement that are duly reported to its Designated Copyright Agent identified in the notice below. If you believe your content has been copied in a way that constitutes copyright infringement, or your intellectual property rights have been otherwise violated, please provide Cobo’s Copyright Agent the following information:

(i)             Identify the copyrighted work that you claim has been infringed, or—if multiple works are covered by this Notice—you may provide a representative list of the copyrighted works that you claim have been infringed.

(ii)            Identify the material or link you claim is infringing and provide a description of where the infringing work is located on this Website.

(iii)           Provide your mailing address, telephone number and, if available, email address.

(iv)           Include both of the following statements in the body of the Notice:

(1)            I hereby state that I have a good-faith belief that the disputed use of the copyrighted material is not authorized by the copyright owner, its agent, or the law (e.g., fair use).

(2)            I hereby state that the information in this Notice is accurate and, under penalty of perjury, that I am the owner or authorized to act on behalf of the owner, of the copyright or of an exclusive right under the copyright that is allegedly infringed.

(v)            Provide your full legal name and your electronic or physical signature.

(b)            Deliver this Notice, with all items completed, to Cobo to:

COBO GLOBAL HK LTD.

ATTN: COPYRIGHT AGENT

FLAT/AM A 20/F KIU FU COMMERCIAL BLDG,

300 LOCKHART ROAD,

WAN CHAI ,

HONG KONG

 

 

(c)            While Cobo considers all such notices seriously, you may be liable for damages (including costs and attorneys' fees) if you materially misrepresent that content or activity is infringing. If you are uncertain whether material infringes your copyrights (including whether use of copyrighted material may constitute fair use) you may wish to seek the advice of an attorney.

11.           Rights and Terms for Apps.

(a)            Rights in App Granted by Cobo. Subject to your compliance with these Terms, Cobo grants to you a limited non-exclusive, non-transferable license, with no right to sublicense, to download and install a copy of the App on a mobile device or computer that you own or control and to run such copy of the App solely in connection for use with the Wallet. You may not copy the App, except for making a reasonable number of copies for backup or archival purposes. Except as expressly permitted in these Terms, you may not: (i) copy, modify or create derivative works based on the App; (ii) distribute, transfer, sublicense, lease, lend or rent the App to any third party; (iii) reverse engineer, decompile or disassemble the App; or (iv) make the functionality of the App available to multiple users through any means. Cobo reserves all rights in and to the App not expressly granted to you under these Terms.

(b)            Accessing App from App Store. The following terms apply to any App accessed through or downloaded from any app store or distribution platform (like the Apple App Store or Google Play) where the App may now or in the future be made available (each an “App Provider”). You acknowledge and agree that:

(i)             These Terms are concluded between you and Cobo, and not with the App Provider, and Cobo (not the App Provider), is solely responsible for the App.

(ii)            The App Provider has no obligation to furnish any maintenance and support services with respect to the App.

(iii)           In the event of any failure of the App to conform to any applicable warranty, you may notify the App Provider, and the App Provider will refund the purchase price for the App to you (if applicable) and, to the maximum extent permitted by applicable law, the App Provider will have no other warranty obligation whatsoever with respect to the App. Any other claims, losses, liabilities, damages, costs or expenses attributable to any failure to conform to any warranty will be the sole responsibility of Cobo.

(iv)           The App Provider is not responsible for addressing any claims you have or any claims of any third party relating to the App or your possession and use of the App, including, but not limited to: (i) product liability claims; (ii) any claim that the App fails to conform to any applicable legal or regulatory requirement; and (iii) claims arising under consumer protection or similar legislation.

(v)            In the event of any third party claim that the App or your possession and use of that App infringes that third party’s intellectual property rights, Cobo will be solely responsible for the investigation, defense, settlement and discharge of any such intellectual property infringement claim to the extent required by these Terms.

(vi)           The App Provider, and its subsidiaries, are third-party beneficiaries of these Terms as related to your license to the App, and that, upon your acceptance of the Terms, the App Provider will have the right (and will be deemed to have accepted the right) to enforce these Terms as related to your license of the App against you as a third-party beneficiary thereof.

(vii)         You represent and warrant that (i) you are not located in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a terrorist-supporting country; and (ii) you are not listed on any U.S. Government list of prohibited or restricted parties.

(viii)        You must also comply with all applicable third party terms of service when using the App.

12.           General Prohibitions and Cobo’s Enforcement Rights. You agree not to do any of the following:

(a)            Post, upload, publish, submit or transmit any Content that: (i) infringes, misappropriates or violates a third party’s patent, copyright, trademark, trade secret, moral rights or other intellectual property rights, or rights of publicity or privacy; (ii) violates, or encourages any conduct that would violate, any applicable law or regulation or would give rise to civil liability; (iii) is fraudulent, false, misleading or deceptive; (iv) is defamatory, obscene, pornographic, vulgar or offensive; (v) promotes discrimination, bigotry, racism, hatred, harassment or harm against any individual or group; (vi) is violent or threatening or promotes violence or actions that are threatening to any person or entity; or (vii) promotes illegal or harmful activities or substances;

(b)            Use, display, mirror or frame the Services or any individual element within the Services, Cobo’s name, any Cobo trademark, logo or other proprietary information, or the layout and design of any page or form contained on a page, without Cobo’s express written consent;

(c)            Access, tamper with, or use non-public areas of the Services, Cobo’s computer systems, or the technical delivery systems of Cobo’s providers;

(d)            Attempt to probe, scan or test the vulnerability of any Cobo system or network or breach any security or authentication measures;

(e)            Avoid, bypass, remove, deactivate, impair, descramble or otherwise circumvent any technological measure implemented by Cobo or any of Cobo’s providers or any other third party (including another user) to protect the Services or Content;

(f)             Attempt to access or search the Services or Content or download Content from the Services through the use of any engine, software, tool, agent, device or mechanism (including spiders, robots, crawlers, data mining tools or the like) other than the software and/or search agents provided by Cobo or other generally available third-party web browsers;

(g)            Send any unsolicited or unauthorized advertising, promotional materials, email, junk mail, spam, chain letters or other form of solicitation;

(h)            Use any meta tags or other hidden text or metadata utilizing a Cobo trademark, logo URL or product name without Cobo’s express written consent;

(i)             Use the Services or Content, or any portion thereof, for any commercial purpose or for the benefit of any third party or in any manner not permitted by these Terms;

(j)             Forge any TCP/IP packet header or any part of the header information in any email or newsgroup posting, or in any way use the Services or Content to send altered, deceptive or false source-identifying information;

(k)            Attempt to decipher, decompile, disassemble or reverse engineer any of the software used to provide the Services or Content;

(l)             Interfere with, or attempt to interfere with, the access of any user, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, or mail-bombing the Services;

(m)          Collect or store any personally identifiable information from the Services from other users of the Services without their express permission;

(n)            Impersonate or misrepresent your affiliation with any person or entity;

(o)            Violate any applicable law or regulation; or

(p)            Encourage or enable any other individual to do any of the foregoing.

Although we’re not obligated to monitor access to or use of the Services or Content or to review or edit any Content, we have the right to do so for the purpose of operating the Services, to ensure compliance with these Terms and to comply with applicable law or other legal requirements. We reserve the right, but are not obligated, to remove or disable access to any Content, at any time and without notice, including, but not limited to, if we, at our sole discretion, consider any Content to be objectionable or in violation of these Terms. We have the right to investigate violations of these Terms or conduct that affects the Services. We may also consult and cooperate with law enforcement authorities to prosecute users who violate the law.

13.           Links to Third Party Websites or Resources. The Services (including the App) may contain links to third-party websites or resources. We provide these links only as a convenience and are not responsible for the content, products or services on or available from those websites or resources or links displayed on such websites. You acknowledge sole responsibility for and assume all risk arising from, your use of any third-party websites or resources.

14.           Termination. We may terminate your access to and use of the Services, at our sole discretion, at any time and without notice to you. You may cancel your Account at any time by following the instructions noted in the Services.

15.           Indemnity. You will indemnify and hold harmless Cobo and its officers, directors, employees and agents, from and against any claims, disputes, demands, liabilities, damages, losses, and costs and expenses, including, without limitation, reasonable legal and accounting fees arising out of or in any way connected with (i) your access to or use of the Services, Hardware or Content, (ii) your User Content, or (iii) your violation of these Terms.

16.           Limitation of Liability.

(a)            NEITHER COBO NOR ANY OTHER PARTY INVOLVED IN CREATING, PRODUCING, OR DELIVERING THE SERVICES, HARDWARE OR CONTENT WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST SAVINGS, LOST BUSINESS OPPORTUNITY, LOSS OF DATA OR GOODWILL, SERVICE INTERRUPTION, COMPUTER DAMAGE OR SYSTEM FAILURE OR THE COST OF SUBSTITUTE SERVICES OF ANY KIND ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES OR CONTENT, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT COBO OR ANY OTHER PARTY HAS BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGE, EVEN IF A LIMITED REMEDY SET FORTH HEREIN IS FOUND TO HAVE FAILED OF ITS ESSENTIAL PURPOSE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.

(b)            IN NO EVENT WILL COBO’S TOTAL LIABILITY ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES OR CONTENT EXCEED THE AMOUNTS YOU HAVE PAID TO COBO FOR USE OF THE SERVICES OR CONTENT OR ONE HUNDRED DOLLARS ($100), IF YOU HAVE NOT HAD ANY PAYMENT OBLIGATIONS TO COBO, AS APPLICABLE.

(c)            THE EXCLUSIONS AND LIMITATIONS OF DAMAGES SET FORTH ABOVE ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN COBO AND YOU.

17.           Governing Law and Forum Choice. These Terms and any action related thereto will be governed by the Federal Arbitration Act, federal arbitration law, and the laws of the Hong Kong Special Administrative Region of the People’s Republic of China, without regard to its conflict of laws provisions. Except as otherwise expressly set forth in the “Dispute Resolution” section below, the exclusive jurisdiction for all Disputes (defined below) that you and Cobo are not required to arbitrate will be a court of competent jurisdiction located in Hong Kong, and you and Cobo each waive any objection to jurisdiction and venue in such courts. Notwithstanding the above, if you are a citizen of the People’s Republic of China and are located outside the United States, you consent that any dispute arising from or in connection with these Terms and Conditions shall be submitted to China International Economic and Trade Arbitration Commission (CIETAC) for arbitration, which shall be conducted in Beijing in accordance with the CIETAC’s arbitration rules in effect at the time of applying for arbitration.

18.           Dispute Resolution. The following terms of this “Dispute Resolution” section only apply if you are an individual who is using the Services and Content for your own personal use and are not representing a legal entity.

(a)            Mandatory Arbitration of Disputes. We each agree that any dispute, claim or controversy arising out of or relating to these Terms or the breach, termination, enforcement, interpretation or validity thereof or the use of the Services or Content (collectively, “Disputes”) will be resolved solely by binding, individual arbitration and not in a class, representative or consolidated action or proceeding. However, if for any reason a Dispute proceeds in court rather than in arbitration, you and we each waive any right to a jury trial.

(b)            Exceptions and Opt-out. As limited exceptions to Section 19(a) above: (i) you may seek to resolve a Dispute in small claims court if it qualifies; and (ii) we each retain the right to seek injunctive or other equitable relief from a court to prevent (or enjoin) the infringement or misappropriation of our intellectual property rights. In addition, you will retain the right to opt out of arbitration entirely and litigate any Dispute if you provide us with written notice of your desire to do so by email at [support@cobo.com] or by regular mail at [FLAT/AM A 20/F KIU FU COMMERCIAL BLDG, 300 LOCKHART ROAD, WAN CHAI, HONG KONG] within thirty (30) days following the date you first agree to these Terms.

(c)            Starting Arbitration. If you want to begin arbitrating a Dispute, you must send a letter to us at the following address [FLAT/AM A 20/F KIU FU COMMERCIAL BLDG, 300 LOCKHART ROAD, WAN CHAI, HONG KONG] requesting arbitration and describing the Dispute. If we want to begin arbitrating a Dispute, we’ll send such a letter to you at the email address or street address that you provided.

(d)            Conducting Arbitration and Arbitration Rules. The arbitration will be conducted by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules (the “AAA Rules”) or a comparable arbitral body (e.g., JAMS), in the event the AAA is unable to conduct the arbitration). The AAA Rules are available at www.adr.org or by calling 1-800-778-7879. The arbitration may be conducted in writing, remotely (e.g., by videoconference) or in-person in the county where you live (or at some other location that we both agree to).

(e)            Arbitration Costs. Payment of all filing, administration and arbitrator fees will be governed by the AAA Rules. We’ll pay for all filing, administration and arbitrator fees and expenses if your Dispute is for less than $10,000 USD, unless the arbitrator finds your Dispute frivolous. If we prevail in arbitration we’ll pay all of our attorneys’ fees and costs and won’t seek to recover them from you. If you prevail in arbitration you will be entitled to an award of attorneys’ fees and expenses to the extent provided under applicable law.

(f)             Class Action WaiverYOU AND COBO AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.  Further, if the parties’ dispute is resolved through arbitration, the arbitrator may not consolidate another person's claims with your claims, and may not otherwise preside over any form of a representative or class proceeding.  If this specific provision is found to be unenforceable, then the entirety of this Dispute Resolution section shall be null and void.

(g)            Effect of Changes on Arbitration. Notwithstanding the provisions of “Changes to Terms or Services” section above, if Cobo changes any of the terms of this “Dispute Resolution” section after the date you first accepted these Terms (or accepted any subsequent changes to these Terms), you may reject any such change by sending us written notice (including by email to [support@cobo.com]) within 30 days of the date such change became effective, as indicated in the “Last Updated” date above or in the date of Cobo s email to you notifying you of such change. By rejecting any change, you are agreeing that you will arbitrate any Dispute between you and Cobo in accordance with the terms of this “Dispute Resolution” section as of the date you first accepted these Terms (or accepted any subsequent changes to these Terms).

19.           General Terms.

(a)            Entire Agreement. These Terms constitute the entire and exclusive understanding and agreement between Cobo and you regarding the Services and Content, and these Terms supersede and replace any and all prior oral or written understandings or agreements between Cobo and you regarding the Services and Content. With the exception of any provisions in the “Class Action Waiver” section of these Terms, if any provision of these Terms is held invalid or unenforceable by an arbitrator or a court of competent jurisdiction, that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect. You may not assign or transfer these Terms, by operation of law or otherwise, without Cobo’s prior written consent. Any attempt by you to assign or transfer these Terms, without such consent, will be null. Cobo may freely assign or transfer these Terms without restriction. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.

(b)            Survival. Upon any termination, discontinuation or cancellation of the Services or your Account, the following Sections will survive: “Hardware, Wallet and Description of Services” (as to the “Passwords” and “Sole Responsibility” subsections); “Content Ownership, Responsibility and Removal (as to the “Our Content Ownership”, “Rights in User Content Granted by You”, “Your Responsibility for User Content”, and “Removal of User Content” subsections) “Disclaimers”, “Feedback”, “Indemnity”, “Limitation of Liability”, “Governing Law and Forum Choice”, “Dispute Resolution”, and “General Terms”.

(c)            Notices. Any notices or other communications provided by Cobo under these Terms, including those regarding modifications to these Terms, will be given: (i) via email; or (ii) by posting to the Services. For notices made by e-mail, the date of receipt will be deemed the date on which such notice is transmitted.

(d)            Waiver of Rights. Cobo’s failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Cobo. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise.

20.           Contact Information. If you have any questions about these Terms or the Services, please contact Cobo at support@cobo.com.