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Terms and conditions

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These Terms and Conditions govern the relationship between you, the account holder and us, HOLD Platform Limited (‘HOLD/we/us/our’). Please read them carefully, along with our Privacy Policy and our Fees and Limits page.

If you have any questions, please contact us at support@hold.io.

About HOLD

HOLD Platform Limited (“HOLD”) is a company registered under the laws of Malta, with company registration number C85377 and having its registered address situated at Level G (Office 1/1005), Quantum House, 75, Abate Rigord Street, Ta’ Xbiex XBX 1120, Malta.

HOLD allows you to manage your funds of both state issued currencies (‘fiat currencies’) and digital assets (‘cryptocurrencies’). It also allows you to spend your funds online and in-store with the HOLD card. This functionality is made available through the HOLD Mobile App (‘HOLD App/app’), once you have created a user account.

HOLD is authorised to conduct its services in accordance with Article 62 of the Virtual Financial Assets Act (Chapter 590 of the Laws of Malta) (the “Act”) and shall be applying for its VFA Class 3 Licence from the Malta Financial Services Authority in November, 2019 in accordance with the law. HOLD remains bound to provide its services in accordance with the terms and principles established in the Act and applicable law.

About these Terms and Conditions

These Terms and Conditions along with our Privacy Policy and our Fees and Limits constitute the entire agreement between you and HOLD.

It supersedes all prior or contemporaneous agreements and understandings, both written and oral, with respect to the subject matter hereof, including, without limitation, any public or other statements or presentations made by HOLD.

If you do not agree with any of these Terms and Conditions, you will not be permitted to use any HOLD functionality or services.

Changes to the Terms and Conditions

We reserve the right to make changes to these Terms and Conditions, at our own sole discretion. Upon updating our Terms and Conditions you will be notified about such changes and will be prompted to accept such new terms in order to continue using HOLD.

Communicating with HOLD

We will usually communicate with you through the HOLD App. This is how we will provide any information about your account. Make sure you check it regularly and that you have the latest version installed.

We may also communicate with you by text message or email, so you should regularly check your text messages and email account.

About the HOLD App

All HOLD functionality, including funds management and card management, is made available through the HOLD App.

To use it, you need to be registered as a HOLD user, i.e.: have a HOLD account. If you do not have an account yet, you can create one through the HOLD App.

Changes on the HOLD App

We will add new features and services all the time to keep improving our product. We have the right to change the HOLD App without indicating the reasons for such changes. While changes are being made to the HOLD App, it may be removed temporarily without indicating the reasons for such removal. This temporary removal should not affect the integrity of your account.

About your account

In order to make use of HOLD funds management and card functionality, you must have a registered account and go through an identity verification and customer due diligence process as part of our Anti-Money Laundering obligations according to the law.

Opening an account

To open an account and be registered with HOLD, you need to provide personal data, such as details of your identity, telephone number, email address, and set up your account security. You also need to agree to be bound by these Terms and Conditions, all applicable laws and regulations, and agree that you are responsible for obeying any laws which apply to you.

Eligibility

HOLD accounts are limited to individuals that are eighteen (18) years of age or older and can lawfully enter into and form contracts under applicable law. HOLD accounts are reserved for individuals only acting in their own name and therefore a HOLD Account cannot be opened on behalf of third parties or use assets belonging to third parties (examples: people acting as agents, trustees or acting on behalf of companies or other legal persons).

Furthermore, you can't:

Any responsibility or liability borne of actions of a person which is not considered eligible shall be borne on him and his guardians. HOLD reserves the right to cancel or freeze such an account, in addition to exercising any other rights permissible by law.

Moving Up the Waiting List

There are 3 actions that you MAY take to potentially move up the Waiting List:

  1. Have a friend sign up on the HOLD Mobile App - as a result of you sharing a referral link which is made available in the HOLD Mobile App
  2. Complete a user survey - which link is made available in the HOLD Mobile App
  3. Join an online user testing interview - to which you will be invited after you join our beta panel mailing list, which link is available in the HOLD Mobile App

Customer Due Diligence Process

In accordance with its Anti-Money Laundering and Counter Finance Terrorism obligations HOLD is required to monitor all users’ AML-CFT risk levels in order to ensure that its product and services are not being used for illegal activities which could harm HOLD, its staff and ultimately its users.

In order to make use of certain features of HOLD, you will have to provide further personal data other than that provided upon initial registration. This information is required for the purpose of HOLD completing its due diligence on your profile – such as your date of birth, place of birth, occupation, phone number and residence address, information on your source of wealth and source of funds, political exposure, and your reason for acquiring, disposing of or investing in cryptocurrencies.

Such requests for information may also be accompanied by a request for verification of such information by providing us with documentary evidence to confirm the veracity of the information - such as scans and certified copies of your ID Card, Residence Permits, Passports, Utility Bills, Bank Statements or Payslips.

Additional information and documentation may be required depending on your risk status, the information you submit to use, your use of the HOLD App and when you wish to access additional features of the App, such as obtaining the HOLD Debit Card or depositing funds in excess of set amounts. We may ask you for this additional information and documentation at any time through one of your indicated contact methods. Should we fail to receive the information and documentation requested within a reasonable time we may have to temporarily or even permanently block your account until the matter is resolved. Please provide this information quickly so that there is no disruption to your account or our services.

Authorization to use your information to verify your identity

You authorise us to make enquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. When we carry out these enquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our enquiries in full.

Your Commitments

By creating a HOLD Account and making use of HOLD’s products and services, you are warranting and declaring that:

Account data

You must provide complete, true and correct personal data in order to open and maintain a HOLD account. By opening a HOLD account you agree to notify HOLD immediately upon any material changes to any data submitted to HOLD, such as change in name, resident address, occupation, source of wealth.

To meet our legal and regulatory requirements we might sometimes need to ask for more information about you (for example, if your spending increases). Please provide this information quickly so that there is no disruption to your account or our services.

Our Privacy Policy sets out all the necessary information on how we collect and process your personal data.

Account usage

Please act reasonably and responsibly when using your HOLD account. For example, you must not use it (directly or indirectly) as follows:

Account security

We do everything we can to keep your account safe. We kindly ask you to do the same by:

It is your sole and exclusive responsibility to ensure that account security details are kept safe. HOLD shall not be responsible for any abuse or misuse of your account by third parties due to your disclosure, whether intentional or accidental, active or passive, of your security details to any third party.

Account closure

If you change your mind and do not want to maintain your HOLD account any more, that's not a problem. Just let us know through one of our contact methods and we will close it for you.

We also reserve the right to close your account, without prior notice, in exceptional circumstances. Exceptional circumstances include the following:

We may also decide to close or suspend your account for other reasons. We would contact you via email or through the HOLD App at least three months before we do this.

Once we have closed your accounts, you will lose all access to any service provided and these Terms and Conditions shall no longer apply to you.

Please note that deleting the HOLD App will not automatically result in the closure of your account.

About fund management

If you are a permanent resident in one of our available countries (check them in our Fees and Limits page), then HOLD allows you to top-up, withdraw and exchange funds in different currencies, including fiat currencies and cryptocurrencies.

The rules applicable to limits for those transactions over a given time as well as applicable fees can be viewed in the limits and fees page. Whilst we will endeavour to keep you updated on any changes to such Fees and Limits, they may change from time to time without prior notice. Check them regularly to stay updated.

We don't charge any fees for making or receiving payments. However, other banks involved, such as your own bank or the bank of the person you are paying or certain correspondent or intermediary banks (banks that help transfer the money between other banks) might sometimes take their fees from the payment you're sending or receiving. This could mean that you or the person you are paying receives less than expected.

This might happen if:

To be clear, we won’t charge you any fees ourselves for making or receiving payments. We will always give you the full amount we receive from another bank. Likewise, we will always send the full amount that you ask us to send, but we can’t guarantee that the full amount will be paid without a fee being taken by another bank.

Top-up

Top-up cryptocurrencies

You can top-up a given cryptocurrency by doing a transfer to your HOLD wallet address for this cryptocurrency. The address provided depends on the selected cryptocurrency.

When we receive your transfer of cryptocurrency, we will add the equivalent value to your account.

Sending funds to the wrong address, or sending any other asset other than not the selected crypto currency, will result in the permanent loss of those funds.

Furthermore, unless specifically announced via an official public statement of HOLD, we do not support metacoins, coloured coins, side chains, or other derivative, enhanced, or forked protocols, tokens, or coins which supplement or interact with the Cryptocurrencies we support (collectively, "Advanced Protocols"). You should not use your account to attempt to receive, request, send, store, or engage in any other type of transaction involving an Advanced Protocol. Our platform is not configured to detect and/or secure Advanced Protocol transactions. You acknowledge and agree that we have no responsibility whatsoever in respect of an unsupported Advanced Protocol.

HOLD is not responsible for any loss of funds as a result of any error or negligence of a user; as a result of any fundamental error, bug or malware which has affected the relevant cryptocurrency blockchain or any related systems, including the HOLD App, which could not be reasonably prevented or foreseen by HOLD in the given circumstances.

Top-up fiat currencies

You can top up using fiat currency by SEPA bank transfer to HOLD’s correspondent bank details, as provided in the HOLD App. When effecting a bank transfer, you will be asked to include a special reference code to help us identify the funds you have sent. Failure to include this reference within you bank transfer may result in delays in topping up your HOLD fiat account. The bank details provided depend on the selected fiat currency.

HOLD only accepts direct deposits in the fiat currencies available in the HOLD App. The bank transfer must be in the currency matching that of the HOLD fiat account otherwise additional banking transaction fees will be incurred by you. The payment will also be converted to the currency of your account. This means that your account might be credited with more or less than you expected. We won't be responsible for any losses if this happens.

When we receive your transfer, we will add the equivalent value to your account, minus any banking transaction fees applicable by our respective banking service providers (if any).

The bank account from which any deposit is made to your account must be held directly in your name. Unidentified deposits or deposits received from an account that appears not to belong to you will be rejected and the funds returned to the original account. All costs arising from such a return of funds will be borne by you.

Withdraw

Withdraw cryptocurrencies

In order to withdraw a given cryptocurrency, you need to provide a destination wallet address.

When we receive your withdrawal request, we will deduct the equivalent value from your account and transfer it to the provided destination. We reserve the right to block any withdrawal of cryptocurrencies to public addresses which are considered to be high risk or known to be used for illicit activities (examples: black market addresses; addresses of organisations and websites operating on the darkweb).

We will take a fee, not for our profit, but to pay the relevant blockchain network and custodian services we use to perform the transfer. Check HOLD fees.

Sending funds to the wrong address, or sending any other asset other than the selected cryptocurrency, will result in the permanent loss of those funds. HOLD takes not responsibility for any error or negligence on your part in ensuring that you have correctly supplied the public address which is meant to receive your funds.

Withdraw fiat currencies

In order to withdraw a given fiat currency directly to your bank account, you need to provide us with the details of a destination bank account held with a Banking Institution established in the European Union or the European Economic Area. The destination bank account must be in your name. We reserve the right to block any withdrawal of fiat currency to any bank account which is not yours or appears not to belong directly to you.

When we receive your withdrawal request, we will deduct the equivalent value from your account and transfer it to the provided destination minus any banking transaction fees applicable by our respective banking service providers (if any).

Your bank may charge currency conversion fees if your destination bank account is not in the selected currency which is being transferred from your HOLD Account.

HOLD does not take any responsibility for bank details that are not correctly provided by you. Always ensure that your banking details are correctly included and such transfer is made to an account in your name.

Help! My fiat withdrawal was sent to the wrong account, was not sent at all or was delayed!

If the bank transfer has not been processed correctly, despite the correct detail being entered correctly please contact HOLD Customer Support at support@hold.io.

These rules don't apply to currency exchanges or to cryptocurrencies withdrawals.

Exchange

HOLD allows you to exchange crypto-to-fiat currencies, fiat-to-crypto currencies and crypto-to-crypto currencies. The exchange rate we use is calculated every few seconds and based on our market rate. Whilst we will endeavour to obtain and provide you with the best rate available in the open market, HOLD is not bound to supply you with an at-par exchange rate value when effecting an exchange of any type of currency.

Transacting, trading and exchanging currencies is a high risk speculative activity in which you may lose your money or a substantial portion of it. Do not trade with money you cannot afford to lose. We are not responsible if you lose any money as a result of any loss of market value of any currency that is supported on our platform.

Track your transactions

You can check all your transaction history through the HOLD App. This includes:

We will send you an email each time a top-up and withdrawal happens. Given you have allowed HOLD notifications on your device, we will send you a notification each time a top-up and withdrawal happens as well.

Cancel a transaction

You can't cancel withdrawals, both for fiat and cryptocurrency.

You also can't cancel a currency exchange once we've received your request to carry it out.

Protection of funds

HOLD is a Virtual Financial Asset Service Provider that operates on principles similar to an E-Money Institution. Therefore, HOLD does not have the right to lend any money it received from its customers, nor is it able to pay you interest on the funds deposited similarly to traditional banks. When HOLD receives a payment for your account, or you add fiat or cryptocurrency to it, we place the equivalent value in your account. We quickly either:

These safeguards help protect you if we were to become insolvent. Consequently, regulations make sure that once we have paid any costs related to the liquidation of HOLD, we must repay you from our ring-fenced accounts before we repay any creditors we may owe money to.

Unfortunately, the law doesn't allow us to pay you interest, and the money in your account isn't covered by the Financial Services Compensation Scheme.

The EEA is made up of all the countries in the European Union, plus Norway, Iceland and Liechtenstein.

Legal Title to Cryptocurrencies

All Cryptocurrencies held in your account on the HOLD App are custodial assets held by HOLD for your benefit. Among other things, this means:

  1. Title to Cryptocurrencies shall at all times remain with you and shall not transfer to any company within the HOLD group. As the owner of any Cryptocurrencies in your account on the HOLD App, you shall bear all risk of loss of such Cryptocurrencies. No company within the HOLD Group shall have any liability for fluctuations in the fiat currency value of any Cryptocurrencies held in your account on the HOLD App.
  2. You control the Cryptocurrencies held in your account on the HOLD App. At any time, subject to outages, downtime, and other applicable policies, you may withdraw your Cryptocurrency by sending it to a different blockchain address controlled by you or a third party.
  3. In order to enhance its safekeeping procedures to protect crypto assets, HOLD may use shared blockchain addresses with a trusted third party, to hold Cryptocurrencies held on behalf of customers and/or held on behalf of HOLD.

Safety of Digital Currency Protocols

We do not own or control the underlying software protocols which govern the operation of any Cryptocurrencies supported on the HOLD platform. In most cases, the underlying protocols of Cryptocurrencies are ‘open source’ and anyone can use, copy, modify, and distribute them.

HOLD assumes no responsibility for the operation of the underlying protocols and we are not able to guarantee their functionality, security, or availability presently or in the future. You acknowledge and accept the risk that underlying software protocols relating to any Cryptocurrencies you store in your account through the HOLD App may change.

In particular, the underlying protocols are likely to be subject to sudden changes in operating rules ("forks"), and such forks may materially affect the value, function, and/or the name of the Cryptocurrencies you store in your account through the HOLD App. Where possible, we may provide you with notices or alerts on forks and with instruction from us to consider on how to deal with upcoming forks.

However, it is your responsibility to make yourself aware of, and consider how to deal with, upcoming forks or changes to the underlying protocols. In the event of a fork, there is a risk that we may need to temporarily suspend operations in relation to that fork without providing advance notice to you. We may, in our reasonable discretion, decline to support either or both branches of a fork. You acknowledge the risks presented by forks and you accept that we have no responsibility to assist you to move or sell an unsupported branch of a forked protocol.

Duration of Cryptocurrency transaction

All cryptocurrency transactions to and from HOLD remain subject to the speed of the consensus mechanisms that confirm transactions as well as the traffic on the relevant blockchain network.

HOLD may refuse or delay a transaction

HOLD must refuse to make a transaction, or delay a transaction, in the following circumstances:

The HOLD App will inform you when we have refused to make a transaction. If you'd like to find out why we refused the payment, and what you can do to solve any problems, please contact us.

We won't be responsible for any losses you suffer as a result of us refusing or delaying a transaction.

About the HOLD Debit Card

HOLD allows you to spend your funds online and in-store with your HOLD Visa Debit card. You may also withdraw funds from an ATM using your HOLD Visa Debit card.

The use of the Card is subject to limits and fees. Whilst we will endeavour to keep you updated on any changes to such Fees and Limits, such limits and fees may change from time to time without prior notice. Check them regularly to stay updated.

HOLD card programme extensive Terms and Conditions must be consulted here.

Getting a card

To get a HOLD card you need to have a HOLD account and be a permanent resident of one of the countries listed in our Fees and Limits. If you do not see your country at present it is likely thatHOLD is working to get to your country as soon as possible. Only one active card is currently allowed per HOLD account.

HOLD reserves the right to withhold its card services (including issuance or use of already issued cards) should it feel that the Account Holder or the country in which the service is being offered poses a high risk of Money Laundering, Funding of Terrorism or could likely lead to material legal or reputational damage to HOLD and/or its user community. Always comply with any of our reasonable requests for further personal information on your activities and documentation to help us ensure a continued and uninterrupted service.

Card usage

You can use your HOLD card to make payments (for example, in a shop or restaurant) or withdraw cash. Your card should work anywhere around the world that accepts Visa Debit cards.

When you use your HOLD card to make a payment or make a withdrawal from an ATM, we will consider it to be authorised by you unless you let us know that your card has been stolen from you.

Make sure you know the person you are making a payment to. Be wary of people asking for payments which you don’t know or in relation to things which you are not sure about - HOLD will not be in a position to refund you if you are a victim of a scam.

HOLD might prevent you from making payments from your account or with your HOLD Card if we're reasonably concerned about its security or that it might be used fraudulently or without your permission.

Furthermore we reserve the right to block your account or HOLD Card to meet our legal obligations.

We'll tell you through the HOLD app before, or as soon as possible after, we block your HOLD account or Card. We'll also let you know why we've done it (unless it would reduce your or our security or it would be unlawful).

Please act reasonably and responsibly when using the HOLD Card. For example, you must not use it (directly or indirectly) as follows:

Card fund management

In order to top-up a given card, a transfer needs to be done from funds already in your HOLD fiat account.

Card data

We use Contis’ services to provide VISA Debit cards. This includes all card related features. Contis stores and has all the information about the card and processed transactions, whereas HOLD has access to only the required data to make the necessary information and features available in the HOLD Mobile App.

As such, HOLD is a distributor of Contis Visa Debit cards., and both are responsible for the security of all your personal data that we possess or otherwise store, process, or transmit on your behalf, or to the extent that we could impact the security of your data environment.

Our Privacy Policy sets out all the necessary information on how we and Contis collect and process your data.

Card security

We do everything we can to keep your card safe. We ask you to do the same by:

It is your sole and exclusive responsibility to ensure that the card security details are kept secure – you must not disclose them to anyone. You are solely responsible for the safekeeping of your card and the PIN number associated with it. If you discover that your card has been lost or stolen, or the security details of your card has been compromised, you must immediately request that such card is blocked and cancelled through the HOLD App or another HOLD contact method.

Card cancellation

If you change your mind and do not want a HOLD Card anymore, that's not a problem. Just let us know and we will cancel it.

We also reserve the right to cancel your card, without prior notice, if your use constitutes unlawful conduct or behaviour which is in breach of the Terms and Conditions.

Waiting list

In order to control demand for the HOLD card and the shipping logistics, we may place you on a waiting list.

Your position on the Waiting List is determined by:

When the HOLD card is made available, priority access will be given to the waiting list members. Those at the top of the waiting list will be given access first, subject to their compliance with any requirements (e.g. account validations and/or geographical restrictions).

General

Communication

We'll usually communicate with you through the HOLD App or via email.

This will be our primary means of addressing fraud, theft as well as matters pertaining to the maintenance of your account and profile details. It is also how we will tell you if there is a security threat to your account or whether we require further information pursuant to our Know-Your-Client procedures. Make sure you regularly check the HOLD App and your email for this information.

We may also communicate with you by text message so you should regularly check your text messages.

Complaints

Should you have any complaints regarding our services or product please contact us and we will try to resolve the issues that have caused you any dissatisfaction with HOLD.

If despite our attempt to resolve your issue, you are unhappy with how we have dealt with your complaint, you can refer it to the Office of the Arbiter for Financial Services within six months of the date we sent (or should have sent) our final response to you.

Address: Office of The Arbiter for Financial Services, First Floor St Calcedonius Square Floriana, FRN1530, Malta

Phone from Malta: 8007 2366

Phone from outside Malta: +356 8007 2366

You can find more information on their website. You can also use their service through the Online Dispute Resolution platform.

Complaints Handling Procedure

If you'd just like to speak to someone about an issue that is concerning you, please contact us through the HOLD App’s help section or via email support@hold.io. We can usually settle matters quickly if you provide the information below.

If you prefer to make a formal complaint you can do so by emailing us at complaints@hold.io. Please make it clear that you wish to make a formal complaint when getting in touch. By doing so you will ensure that the problem is addressed through the right process and this will ensure the issue is resolved as quickly as possible.

To help, please can you tell us:

We'll look into your complaint and respond to you by email within 15 working days at the latest, but usually much sooner. We will communicate with you in English.

No warranties

HOLD provides its services on an “as is” and “as available” basis and any use of the HOLD App and services thereof are at your own risk. HOLD offers these services without warranties of any kind, express or implied including and without limitation to warranties of merchantability, fitness for a particular purpose, title and non-infringement with respect to the services. Without any limitation to the former, HOLD does not warrant that the HOLD App and services thereof will run without errors or defects and errors will be adjusted. Additionally, HOLD does not warrant that it will meet your requirements or will be available uninterruptedly or secure at any time or location. HOLD does not warrant that its HOLD App are free from viruses or other harmful content.

HOLD does not warrant, endorse, guarantee or assume any responsibility for any product or service offered or advertised by a third party through the HOLD App, and we will not be a party to nor monitor any interactions between you and third-party providers of products or services.

Limitation of liability

You are accepting that HOLD shall not be liable for any losses incurred by you caused by any of the following events, including but not limited to:

HOLD shall not in any way be liable for any event that results in the failure or delay of service from network maintenance or external factors, like for instance power failure, natural disasters, service provider complications or any governmental acts.

HOLD shall also not be liable to you or to any third party in cases of any direct, indirect, special, incidental, consequential, exemplary or punitive damages or any loss, theft, disappearance, or damages for lost profits.

You should also understand and agree that HOLD shall not be liable and you shall be responsible for all liability in connection with any force majeure event, labour disputes or other industrial disturbances, electrical, telecommunications, hardware, software or other utility failures, software or smart contract bugs or weaknesses, earthquakes, storms or other nature-related events, blockages, embargoes, riots, acts or orders of government, acts of terrorism or war, technological change, changes in interests rates or other monetary conditions, and, for the avoidance of doubt, changes to any blockchain-related protocol.

HOLD will only be responsible for foreseeable losses

If HOLD breaks this agreement, we will only be responsible for any loss that we could have foreseen at the time we entered into the agreement.

Nothing in these terms and conditions removes or limits our liability for death or personal injury resulting from our negligence or from fraud or fraudulent claims and statements.

How you might owe us money

HOLD does not grant any credit facilities to any of its users (for example, make payments of more than the value of the money in it or use leverage to purchase any currency available on the platform). If your balance becomes negative (for example, because you do not have enough e-money to cover certain fees you may owe us such as a subscription fee), you must top up your account immediately. The fees you may have to pay us are listed in our Fees and Limits page.

HOLD reserved the right to take the amount you owe us from any amount we are due to pay to you (example for amounts that are deposited to your account) as a right of set-off. If you owe us fees (other than third-party fees for making or receiving a payment) or any other amount, we'll take the amount you owe us from your account, in the currency of the country you live in (your base currency).

If not enough money in your account is held in your base currency, we'll take the equivalent value from money you hold in another currency. If you don't have enough money in your account to pay the fees or other amounts you owe us, we might recover the amount in another way, as explained below.

If you owe us money and you don't top up your account or repay us within seven days, we can recover the amount by:

If we take any (or all) of these steps, we may charge you our reasonable costs.

Your Liability to HOLD

You may be responsible to us for certain losses if you have broken these terms and conditions, and this has caused us to suffer a loss. Should such an event occur the following will apply:

Indemnification

You agree to indemnify, defend the HOLD App and its affiliates, contractors, licensors, and their respective directors, officers, employees and agents harmless from and against any claims and damages arising out of your breach or our enforcement of these Terms and Conditions.

HOLD reserves the right to exercise sole control over the defence, at your expense, of any claim subject to indemnification under this Section or ‘No Warranties’ section. This indemnity is in addition to, and not in lieu of, any other indemnities set forth in a written agreement between you and HOLD.

Permission to Process Personal Information

To provide our services and products under this agreement we need to collect and hold information about you. Under data protection law, we are what is known as the ‘data controller’ of your personal information. For more information about how we use your personal information, see our Privacy Policy.

By entering into the agreement you are giving us permission to gather process and store your personal information for the purpose of providing our services to you. This doesn’t affect any rights and obligations you or we have under data protection law.

You can withdraw your permission by closing your account, which will end the agreement between you and us. If you do this, we’ll stop using your information for the purpose of providing our services, but we may need to keep your information for other legal reasons.

Intellectual Property

All the intellectual property in our products and services such as the HOLD App, website, logo and card designs belong to HOLD. It is prohibited for any third party to make use any of HOLD’s intellectual property, except to enjoy such products and services.

Dispute resolution

You and HOLD (individually, the ‘Party’; collectively, the ‘Parties’) shall cooperate in good faith to resolve any dispute, controversy or claim arising out of, relating to or in connection with the Terms and Conditions (including non-contractual disputes or claims).

Any dispute not resolved within ninety (90) days shall be finally settled by arbitration in accordance with the Arbitration Act (Chapter 387 of the Laws of Malta) and Part X (International Arbitration) of the Arbitration Rules (Subsidiary Legislation 387.01) in force as at the date of the Terms and Conditions. For the avoidance of any doubt:

  1. The number of arbitrators shall be one (1);
  2. The place of arbitration shall be Malta;
  3. The language to be used in the arbitral proceedings shall be English;
  4. The governing law of the Terms and Conditions shall be the Laws of Malta;
  5. The arbitration award shall be final and binding.

The Parties undertake to carry out any award without delay and waive their right to any form of recourse insofar as such waiver can validly be made. Judgement upon the award may be entered by any court having jurisdiction thereof and having jurisdiction over the relevant Party or its assets. The Parties will each pay the respective fees and expenses for legal assistance.

Any dispute arising out of or related to the Terms and Conditions is personal to the Parties and shall not be brought as a class arbitration, class action or any other type of representative proceedings. There will be no class arbitration or arbitration in which an individual attempts to resolve a dispute as a representative of another individual or group of individuals. Furthermore, a dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.

Applicable law and jurisdiction

The Terms and Conditions shall be governed in all respects, including as to validity, interpretation and effect, by the Laws of Malta, without giving effect to its principles or rules of conflict of laws, to the extent such principles or rules are not mandatorily applicable by statute and would permit or require the application of the laws of another jurisdiction.

Terms and conditions validity

If any provision of these Terms and Conditions is determined by a court of competent jurisdiction to be invalid, inoperative or unenforceable for any reason, the provision shall be modified to make it valid, and, to the extent possible, effectuate the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.

Assignment

You shall not assign any rights granted to you under these Terms and Conditions, without the prior written consent from us. Any assignment or transfer in violation of this section will be void.

HOLD may assign its rights under these Terms and Conditions to an affiliate.

Subject to the foregoing, these Terms and Conditions, and the rights and obligations of you and HOLD, will be binding upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives.

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