Regulations of BitBay Pay

    §1 General provisions

  1. The Regulations define the principles of providing the services by BITBAYPAY AS. with its seat in Tallin, street Lõõtsa 5, district Lasnamäe, Tallinn, province Harju, postal code 11415, Estonia, registered under the number 14630414 (hereinafter referred to as: „BitBayPay”), within the frames of the platform bitbaypay.com (hereinafter referred to as: „Service") constituting total functionalities for the business client and the conditions of using the Service.
  2. Service collects the personal data of the Merchants and its processing takes place in accordance with the provisions of the Regulation of the European Parliament and the Council (EU) 2016/679 of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on free movement of such data, and repealing the Directive 95/46/EC (hereinafter referred to as: „Regulation”) and IV Directive of the European Parliament and the Council EU on preventing the usage of the financial system for money laundering or financing terrorism amending the Regulation of the European Parliament and the Council (UE) no. 648/2012 and repealing the Directive of the European Parliament and the Council 2005/60/WE and the Directive of the Commission 2006/70/WE.
  3. The provision of Services by BitBayPay involves accepting and servicing the payments made with the use of cryptographic currencies (hereinafter referred to as: crypto-currencies), by means of the Service or mobile application –BitBay Bitcoin POS (hereinafter referred to as:”the Service”).
  4. The provision of the Service takes place for:
    • natural persons conducting business activity who reached 18 years of age and possess full ability for legal capacity,
    • legal persons or other organizational units to whom the provisions of the applicable law grant the ability for legal activities
    who accepted the Regulations and concluded the Agreement for the provision of the Service (hereinafter referred to as: “Merchant”).
  5. The provision of the Service takes place for a fee. The detailed principles of collecting fees were indicated in the Table of Fees and Commissions constituting the attachment to the Regulations, placed on the site of the Service in the insert „Table of Fees and Commissions”.

    §2 Conditions of concluding and termination of the agreement

  1. The provision of the Service requires the Registration in the Service.
  2. The Registration can be made only by the person validated to represent the Merchant.
  3. The Procedure of the Registration is initiated by means of providing the e-mail address of the Merchant and giving a disposition to create the Account which will remain inactive until the moment of making further activities of the Registration described below.
  4. To the e-mail address provided below, the message is sent with a request to review the Registration, by means of an activation link.
  5. After making the activities indicated in point 3, the Merchant hereby gives a unique name of the Account, the password to log in and the PIN code.
  6. Then the Merchant makes a selection of the integration method with the Software, with the use of which the Services will be conducted.
  7. Each User may possess one main Account in the Service.
  8. Within the frames of a given main Account it is possible to create additional sub-accounts dedicated to service many economic activities of the User.
  9. In order to obtain full functionality of the Account it is necessary to conduct the identification of the Merchant by means of introducing in the form the following data:
    • name (company),
    • organizational form,
    • address of the seat or the address of conducting the activity,
    • NIP, and in case of no such number – the state of registration, the commercial register and number and date of registration.
  10. Except for introducing identification data for the economic entity, the Merchant sends scans from the Commercial Register; and scans of confirmation of granting t Tax ID number and REGON number –if a given number was not made visible in the copy from the Commercial Register.
  11. In case of a natural person conducting business activity (Merchant) the person authorized to represent the Merchant and actual beneficiaries of the Merchant, in the form the following information should be entered:
    • name and surname,
    • nationality,
    • country of birth,
    • date of birth and PESEL number PESEL (in case of the Merchants being foreigners not possessing PESEL number one should provide the equivalent of the number (or submit the statement on non-possessing of PESEL number),
    • features of the document stating the identity o fa natural person,
    • information on the tax residence and held exposed political position,
    • telephone number,
    • full address of residence.
  12. In addition, for the review the Merchant must present to the employee of BitBayPay the document stating the identity or send it in the form of a scan or a photo in the .jpg or png form via the form in the Service. The scan/photo stating the identity must be clear, the edges of the document must be visible, no data must be covered. The file may not contain any traces of digital processing (e.g. covering some element with the use of a graphic program) it is permitted to place a watermark. BitBayPay in case of doubts may ask the Merchant for sending the photo of his identity document performed in such a manner so that the face of the Merchant was visible at the same time, the identity document and a card with a date, when the photo was made (so called selfie) or for registered connection with the Merchant by means of a video communicator (e.g. skype); alternatively, for sending additional documents justified with circumstances of the event.
  13. The proxy acting on behalf of the Merchant should in addition send the document entitling to represent, i.e.: the extract from the National Court Register or the notary power of attorney or with the notary certified certification.
  14. Upon completing the above activities, the Merchant shall have the Account in the Service made available, being a digital resource, within which the data and information will be collected about the transactions of the Merchant.
  15. The registration of the account in the Service means the acceptance of the Regulations.
  16. The Merchant is absolutely obliged to provide reliable information consistent with the truth. During the realization of the Agreement for the provision of the Service the User is obliged to update immediately the data and information provided to BitBayPay in each case when the data or information provided earlier turns out to be incomplete or is changed.
  17. During the effectiveness of the Agreement for the provision of the Service the removal of the information and data of the Merchant is prohibited.
  18. The realization of the Service takes place via the Service placed at the domain bitbaypay.com and sub-domains.
  19. The Merchant is obliged to mark the payment gateway on the Portal in a way that does not raise any doubts as to the fact of providing the Service by BitBayPay.
  20. The Agreement for the provision of the Service is terminated:
    • upon the demand of the Merchant,
    • by BitBayPay, in the cases indicated in the Regulations and in particular in case of infringing the law by the Merchant, the Regulations, the rights of BitBayPay or the third persons, good customs and company accepted principles of social principle.
  21. The Agreement for the provision of the Service is concluded for the indefinite time.
  22. The termination of the agreement for the provision of the Service causes the removal of the Account understood as blocking the possibility to log in to the Merchant’s Account. In such a case, the data provided by the Merchant will be removed from the Service unless the provisions of the law state otherwise.
  23. BitBayPay reserves that after termination of the Agreement for the provision of the Service it is obliged to store the settlement data of the Merchant on the basis of the law provisions for the period indicated thereon.

    §3 Conditions for the provision of the Service

  1. Within the realization of the BitBayPay Service, under the principles defined in the Regulations:
  2. Will accept payments made by the Users using the services of the Merchant in a cryptocurrency;
  3. The Merchant has the possibility to choose the type of funds in which he wants to receive payment from the User. It can be done by indicating one of the following options:
    1. 'Keep the payment currency' - the Merchant will receive funds in cryptocurrency, in which the User made the payment;
    2. 'Receive the order currency' - the Merchant will receive funds in cryptocurrency or currency, in which the price has been expressed by the Merchant. (If the Merchant will not indicate, option b) will be set as the default option.)
  4. The Merchant shall take all steps to make available the payments to be made indicated at the Registration, by means of BitBayPay to all potential Users within the frames of the conducted service.
  5. The realization of the unit Service with reference to the transaction connected with the unit Agreement with the User, shall take place as follows:
    1. After establishing the conditions of the Agreement with the User in the service of the Merchant, the Merchant shall generate and communicate electronically to the Service the Order to Accept the Payment from the User with indication of the Nominal price expressed in the units of a given crypto-currency or the Currency and the Wallet of the Merchant within which the payment will be accepted.
    2. In the event when the nominal Price will be communicated to the Service in the Currency, the Service will translate the Nominal price into the value corresponding to it expressed in the units of a crypto-currency, in accordance with the exchange rates conducted by the independent entities, which the value must be accepted by BitBayPay from the User;
    3. At the moment of accepting the payment from the User to the Merchant's Wallet, BitBayPay will charge the commission. The commission for the usage of the Service will be charged in the target currency.
    4. In the event when the Merchant covers the costs of the Commission due to BitBayPay, the amount will not be added to the Users’ payment value. Otherwise, commission value will be added to the payment value. The Merchant is obliged to inform the Customer about the method of calculating the Commission.
    5. BitBayPay in the electronic information indicated below will add to the amount of the units of a given crypto-currency which should be paid by the User, the surplus equal to the amount of the Commission due to BitBayPay.
    6. Pursuant to the accepted settings of the Account of the Merchant, the Service will transfer the electronic information to the service of the Merchant constituting the electronic information allowing to issue the electronic message for the User allowing for making the shipment of units of a crypt-currency. The electronic information, referred to in the preceding sentence, the payment of which to the Wallet of the User shall mean the payment for a given product or the service.
    7. After displaying the electronic information necessary to accept the payment in the units of a crypto-currency on the device of the User, he will be entitled to submit the disposition of a transfer of established number of units of a crypto-currency to the wallet of the Merchant.
    8. Upon completing the transaction of sending units of a crypto-currency to the wallet of the Merchant and confirming it with the use of cryptographic tools, BitBayPay by means of the Service will send a special message confirming the transaction made of transferring the units of a crypto-currency to the wallet of the Merchant.
    9. At the same time, with sending the message, referred to the preceding sentence, BitBayPay shall make the credit indicated by the User in the Order of Acceptance of the Merchant’s wallet.
  6. The Merchant accepts the fact of making the above-mentioned conversions of the unit values of a given cryptocurrency in relation to a given Currency, which will be made only in the case of setting the Service parameters by the Merchant forcing such conversion. BitBayPay will make relevant calculations using its own algorithm, based on available purchase rates communicated by independent entities, to which the Merchant agrees. At the same time, the Merchant is aware of exchange rate differences of cryptocurrencies that may occur after the transaction is confirmed by BitBayPay. The conversion parameters of the units of a given cryptocurrency (if applicable) will be the sole basis for determining the amount of the Merchant's claim in respect of the Merchant’s wallet and, consequently, the amount of funds the Authorized Merchant will continue to use. The Merchant waives any claims against BitBayPay resulting from changes in the exchange rate of the units of the given cryptocurrency following the confirmation of the transaction within the unitary Services.
  7. Despite the fact that BitBayPay makes every effort to track defective or unreliable transfer transactions of cryptocurrency units, BitBayPay guarantees the correctness of the transaction executed using cryptocurrencies only after applying the cryptographic verification of the transaction. Only when the cryptocurrency transaction is verified, BitBayPay will inform the Merchant about accepting the payment, pursuant to §3 point 6f of the Regulations. The fulfilment by the Merchant of the benefit covered by the Agreement with the Customer before receiving from BitBayPay the information referred to in §3 point 6f shall be at the sole risk and responsibility of the Merchant. In this case, BitBayPay will be released from liability to the Merchant for not transferring the units of the given cryptocurrency to the Merchant's Wallet and not crediting the Merchant's Wallet:
    1. The Merchant has the possibility of using the Payment Gateway setting option, that informs about the acceptance of the transfer transaction of units of a given cryptocurrency from the Customer without obtaining cryptographic verification of the transaction. Such information does not constitute a confirmation of a transaction witheffectin the form of BitBayPay liability for the actual obtaining of units of a given cryptocurrency from the Customer and cannot constitute the basis for the claims of the Merchant against BitBayPay.
    2. BitBayPay informs about the risk of failure to obtain units of a given cryptocurrency in the absence of cryptographic verification of transactions, which may not be implemented as a result of intentional or accidental actions by the User or third parties (including in the case of the "double spend" circumstances).

    §4 Execution of withdrawals

  1. The Merchant is entitled to submit towards BitBayPay the order to pay the funds collected within particular wallet of the Merchant. The order funds withdrawal shall be made by means of the account of the Merchant in the Service.
  2. In the case of the Merchant submitting the order to withdraw funds under the Merchant's wallet, BitBayPay will transfer these funds in the form of:
    1. Cryptocurrency only to the Wallet address indicated by the Merchant,
    2. Currency to a bank account belonging to the Merchant as part of the Account on the Website.
  3. n the case of withdrawal of funds in the form of Currency to the Wallet address indicated by the Merchant, the payout amount will be automatically estimated according to the purchase rates used by independent entities -from a given Currency to the corresponding value of the indicated Cryptocurrency.
  4. Execution of the withdrawal order from the Wallet of the Merchant is possible if previously the Merchant indicated current information concerning his wallet address or his bank account.
  5. The Merchant cannot demand the withdrawal from a given wallet of the Merchant in the values different than the given wallets values.
  6. The Merchant is charged with all commissions and bank fees charged by the bank conducting the bank account indicated by the Merchant.
  7. For the withdrawal of funds collected by the Merchant in Wallets, depending on the type of funds and the method of withdrawal, BitBayPay will charge a fee specified in the Table of Fees and Commissions.
  8. For the provision of the Service (acceptance of payments) BitBayPay will be entitled to charge commission each time during the performance of the Service. The percentages of commissions payable to BitBayPay and the policy for their determinationcan be found at www.bitbaypay.com
  9. For the amount of commission and fees collected by BitBayPay, from the Merchant's wallets, BitBayPay will issue a monthly invoice to the Merchant every month.
  10. The Merchant authorizes BitBayPay to delivery of relevant invoices via e-mail to the e-mail address indicated as part of its account on the Website or making invoices available for download as part of the Website.

    §5 Protection of personal data and privacy policy

  1. The principles of processing personal data used and processed by BitBayPay, as well as the regulations concerning the Privacy Policy placed in the Service in the insert „Privacy Policy” shall constitute the attachment to the Regulation and are an integral part thereof.
  2. The Administrator processes the personal data of the Merchants for the proper performance of the Agreement.
  3. The Administrator may indicate another purpose of processing however in such a case it is necessary to obtain the consent of the Merchant for processing (in accordance with the provisions of art. 7 of the Regulation) and fulfilling the informative obligation towards the User (consistent with art. 11 of the above Regulation).
  4. The Merchant has the right to have an insight into his data and demand to have it changed or supplemented.
  5. The Administrator is obliged to protect the personal data of the Users.
  6. Transferring data to other entities may take place only with the express consent of the Merchant or on the basis of the law provisions or upon demand of proper administration entities which the Administrator must perform or for the purposes necessary for the proper performance of the Agreement.

    §6 Liability

  1. The Merchant is responsible for all actions undertaken after logging in by means of his login and password.
  2. The Merchant uses the Service at his own risk, which does not exclude not limit the liability of BitBayPay, connected with the provision of the Service, in the scope in which by virtue of law it may not be excluded nor limited.
  3. BitBayPay bears liability towards the User for non-performance or improper performance of the Service in the scope resulting from the Regulations unless the non-performance or improper performance of the Service is the consequence of the circumstances for which in accordance with the law it does not bear liability.
  4. BitBayPay does not bear liability for the effects of the non-performance or improper performance of the liabilities undertaken towards the Merchant by the Users.
  5. BitBayPay does not bear liability for:
    1. Temporary limitation of the availability of the Service or the Services caused by the necessity to make repairs of the created defects in the Service or the Software or the modernization of the Service including the programing and graphic area;
    2. lack of the realization of the Service, caused by the problems with blockchain;
    3. any damages caused to the third persons, including direct and indirect damages, connected with the use of the Service by the Merchant, in particular those resulting from the improper operation of the devices, software systems or the Service of the Merchant;
    4. all benefits, profits, revenues lost in connection with the use of the Service and performing the Agreement for the provision of the Service, and in addition the unrealized goals and results assumed by the Merchant;
    5. all effects in the area of the rights of the Merchant caused in connection with the actions or omissions of his Users;
    6. improper usage of the Service or using it contrary to the proper law.
  6. BitBayPay will inform the Merchant about any changes to the API documentation in advance.
  7. BitBayPayreserves the right to suspend or terminate the provision of individual Website functionalities due to the need for maintenance, review or extension of the technical database, if it is required for the stability of the Website.
  8. In the event of a planned technical break, BitBayPay will inform the Merchants in advance, giving the date and time of the technical break.
  9. In any case, that BitBayPay was liable for any damage caused to the Merchant, BitBayPay will be responsible for remedying it only up to the total income of BitBayPay coming from the Commission and charges from that Merchant in the last 6 months before the occurrence of the event leading to the creation of damage to the Merchant. If the duration of the Agreement for the provision of the Service and the duration of the Service would be shorter than the period specified in the preceding sentence, the maximum amount of compensation due to the Merchant will be calculated for that period.
  10. Neither Party can be liable for any damage, costs or expenses incurred as a result of or in connection with the delay, improper performance or non-performance of the Service Agreement, if this occurred due to the occurrence of a force majeure event.
  11. Force majeure within the meaning of the Regulations means any unforeseeable situations or events, of an exceptional nature, beyond the control of BitBayPay and the Merchant, making it impossible to fulfill any of the obligations provided for in the Regulations, not resulting from error or negligence of the Party or Parties and remaining insurmountable, despite adding rational efforts and due diligence, in particular: events of natural disasters such as floods, hurricanes, or extraordinary and external events that could not be prevented such as war, restrictions on martial law, uprising, revolution, riots, strike, terrorist threat or terrorist act , technical equipment failure, power outages.
  12. The Merchant bears sole responsibility for compliance with the applicable law and proper implementation of the Agreement with the User in accordance with its content and requirements of the applicable law, including the provision of services to the Customer for which BitBayPay accepts payment as part of the Service.
  13. Accepting payment from the Customer as part of the Service will in no case lead to accepting liability, promise, surety or other legal incidents, as a result of which BitBayPay will be responsible for the sale to the Customer in accordance with the Agreement with the Customer or performance of services offered by the Merchant.
  14. The Merchant is solely obliged to determine, calculate, pay and settle, in accordance with applicable, applicable law, all public and legal obligations, including taxes, duties and other charges, whenever such obligation arose in connection with the performance of the Agreement with Customer and acceptance of payment as part of the Service provided.
  15. The Merchant is obliged to verify whether the User meet the requirements of the KYC procedure used by BitBayPay.

    §7 Security

  1. BitBayPay uses the procedures and practices of security to assure the realization of the obligations defined in the provisions of IV Directive of the European Parliament and the Council of EU of 20 May 2015 on counteracting using the financial system to money laundering or terrorism financing.
  2. In case of having by BitBayPay a justified suspicion of committing a crime, in particular that the funds accepted during performing of the Service –Currency or crypto-currency come from the crime for further realization of the Service or making the payments from the wallet of the Merchant, it may demand from the Merchant to make additional checking activities.
  3. BitBayPay reserves the right to block the Merchant's Account, as well as to notify law enforcement agencies and the judiciary about the suspicion.
  4. During the Registration, the Merchant is obliged to provide reliable, true information. During the realization of the Agreement, the Merchant is obliged to update the data and information provided to BitBayPay immediately in each case, when the previously provided data or information turns out to be incomplete or changed.
  5. In case of a suspicion or stating that the data of the Merchant in the Service is incomplete or improper BitBayPay has the right to demand from the Merchant to repeat the account verification process.
  6. In the duration of the Agreement for the provision of the Service, the removal of the information and data of the Merchant is prohibited.
  7. The acceptance of the Regulations is equal to the consent of the Merchant for any repeated account verification defined in the Regulations.
  8. If the doubts as to the origin of funds –Currency or crypto-currency accepted during performing the Service will not be removed, the repeated procedure of the review of the Merchant will not result in establishing the identity of the Merchant or there is still doubts whether the statement of will of the Merchant is not encumbered with a defect, BitBayPay shall refuse the performance of the Service.
  9. If in the case referred to in paragraph 2 any funds were taken over by BitBayPay –Currency or crypto-currency, BitBayPay may block the realization of the Service by means of deposing the funds –Currency or crypto-currency on the blocked Account of the Merchant, on the deposit account of BitBayPay or in the court deposit until the valid identification who is the owner by law enforcement agencies and the judiciary.
  10. Upon the justified application of the bank or another financial institution, in case of having a suspicion as to the possibility to commit a crime, BitBayPay may block the realization of the Service by means of deposing the funds –the Currency or the crypto-currency on the blocked Account of the User on the deposit account of BitBayPay or in a court deposit until the valid identification who is the owner thereof.
  11. In the event when the BitBayPay in the manner raising no doubts establish itself who is the owner of the funds –Currency or the crypto-currency, it will give the disposition by itself to reimburse the funds to the owner.
  12. In case of suspending or blocking the Service BitBayPay will inform immediately the parties to the transaction.
  13. Delayed realization of the Service after a prior suspending or blocking the Account or the reimbursement of the funds after suspending or blocking the Service, in connection with the activities resulting from infringing the Regulations by the Merchant or the actions of BitBayPay on the basis of the provisions of the Regulations (e.g. he necessity to conduct the procedure of repeated Merchant’s account verification)does not authorize the Merchant to refer any claims towards BitBayPay for any reason, in the scope of lost benefits.
  14. If necessary, BitBayPay will pass to the authorities referred to in paragraph 3 owned data in the scope of the Merchant's identity, both indicated by the Merchant himself, acquired in the verification procedure referred to in paragraph 5, as well as other information about the Merchant's activity on the Website, without the consent of the Merchant.

    §8 The procedure of complaint

  1. In the event when in the opinion of the Merchant, the services provided by BitBayPay are not conducted in accordance with the provisions of the regulations, he may place reservations. The period for reporting the complaint amounts to 30 days from the event constituting a symptom of undue realization of the Service.
  2. The complaint may be placed in:
    • written form sent to the address: 45 Kępowa Street, 40 –582 Katowice or
    • electronic form by means of sending to the e-mail address: [email protected]
  3. The complaint should contain:
    1. identification data of the Merchant, in particular the name (login) ofthe Merchant;
    2. subject and circumstances justifying the complaint;
    3. proposed the method of considering the complaint.
  4. The complaints will be considered in the order of inflow, but no later than within 14 (fourteen) days. In the event when the complaint does not contain any information necessary to consider it, BitBayPay will contact with the Merchant to complete it in the necessary scope, and the period of 14 (fourteen) days runs then from the day of the delivery of the completed complaint. BitBayPay reserves the right to extend the time for considering the complaint in justified cases, for the next 14 (fourteen) days, about which the Merchant placing the complaint will be informed.
  5. The Merchant placing the complaint will be informed about the method of considering the complaint in the form in which it was sent to BitBayPay.
  6. The Merchant have the right to appeal against the decision made BitBayPay within the complaint. The provisions of the point 2,3 and 4 of § shall apply respectively.

    §9 Final provisions

  1. BitBayPay is entitled change the Regulations and the change becomes effective within the period indicated by BitBayPay. Deadlines for change may not be shorter than 7 days from the moment of making the amended Regulations available to the Merchant.
  2. The change of the Table of Fees and Commissions or the Payment Methods do not constitute the change of the Regulations.
  3. The Customer, before making the payment, accepts the Regulations of the Consumer, regulations in the Attachment no. 1 to these Regulations.
  4. BitBayPay reserves the right to use the marks of the Merchant in the form of logo, name of the company or the URL address; as well as placing on the web sites and advertisement materials, the information on the Merchant as the entity using the services of BiBayPay, unless the Merchant does not express the consent for the actions indicated above. The cooperation between BitBayPay and the Merchant concerning the activities indicated in the first sentence of the point, shall be defined in a separate agreement.
  5. The law applicable to the contract between the Merchant and BitBayPay, the subject of which are Services provided by BitBayPay as part of the Website on the terms specified in the Regulations, is the law of the Republic of Estonia.
  6. The disputes resulting between BitBayPay and the User will be resolved in amicable manner. In the event when the amicable manner of resolving the dispute is ineffective, the disputes connected with the Services provided by BitBayPay will be resolved by the common court.
  7. The Regulations come into force as of 01.03.2019