This Earn Product Specific Agreement ("Agreement") is made between you ("User") and PT CTXG Indonesia Berkarya, a limited liability company established under the laws of Republic of Indonesia ("Mobee").
(User and Mobee hereinafter individually referred to as "Party" and collectively referred to as the "Parties")
This Agreement sets forth the terms and conditions under which the User invest in Dual Investment, and/or Flexi Earn (as the case may be) (hereinafter collectively referred to as "Earn Product") from Mobee. By Clicking "agree", the User agrees that the User has read, understood, and accepted all of the terms and conditions set forth in this Agreement as well as Mobee's Privacy Policy and Terms and Conditions.
If the User has any questions related to the Earn Product and/or this Agreement, please contact Mobee's customer service customer.support@mobee.io
Risk Disclosure
By investing in any crypto asset-related products, the User should be aware of the substantial risk that the User may lose a part or the entirety of the principal invested in such products, as digital assets may experience volatility in value. The User is advised to carefully consider the risk exposure before purchasing and holding such products in respect of the User's financial condition as digital asset-related products are not suitable for every client. The User hereby agrees that Mobee, in providing the product, has not acted and is not acting as a fiduciary and has not provided recommendations or advice with respect to particular investment decisions.
- Definitions
1.1. In this Agreement, the following words and expressions shall have the following meanings:
1.1.1. "Account" means the account you have registered and passed the Know Your Customer process on the Mobee Platform.
1.1.2. "Crypto Assets" means an intangible commodity in digital form, using cryptography, information technology networks, and distributed ledgers, to regulate the creation of new units, verify transactions, and secure transactions without interference from other parties.
1.1.3. "Dispute" means as defined under Article 17.1.
1.1.4. "Earning" means any annualized amount of return on the Earn Product calculated and settled in the relevant Crypto Asset.
1.1.5. "Annual Percentage Rate" or "APR" means the rate of earning on any Earn Product determined by the Company in its discretion and calculated as the equivalent annual Earning that an Earn Product generates over a calendar year.
1.1.6. "Force Majeure" means as defined under Article 15.1.
1.1.7. "Confidential Information" means as defined under Article 16.1.
1.1.8. "Indemnified Parties" means as defined under Article 9.1.
1.1.9. "Maturity Date" is the last day an Earn Product generates Earning (ending at 3 PM UTC+7 of such day).
1.1.10. "Principal Amount" means the principal amount of Crypto Asset used to subscribe for the Earn Product.
1.1.11. "Revised Agreement" means as defined under Article 18.1.
1.1.12. "Start Date" means the first day an Earn Product starts to generate Earning, which commences on the time the User subscribed for an Earn Product; provided that if the User subscribed for an Earn Product after 3 PM UTC+7 on a day, the first day for the Earn Product shall commence at on the next immediately following date.
1.1.13. "Terms of Product" means as defined under Article 2.1.
1.1.14. "Privacy Policy and Terms and Conditions" means the privacy policy and general terms and conditions on Mobee's Platform.
- Earn Product Subscription
2.1. By subscribing to the Earn Product on Mobee's Platform, the User shall be subject to and agrees to be bound by Mobee's terms of the relevant Earn Product ("Terms of Product").
2.2. Mobee may offer the User the function to settle the User's Earnings in investing in the Earn Product provided by Mobee. The User may select to use this function and specify the Crypto Asset that the User decides the Earnings to be settled on the Earn Product page before subscribing for an Earn Product.
2.2.1. Upon selecting, the User hereby authorizes Mobee to settle the User's Earnings accrued for each day from the User's Account used to subscribe for the Earn Product to the designated Crypto Asset selected by the User. The rate of exchange between the Account used to subscribe for the Earn Product and the designated Crypto Asset selected by the User is based on the real-time rate of exchange.
2.3. Before subscribing for an Earn Product, the User bears the responsibility to ensure that there are sufficient Crypto Assets on the User's Account for such subscription. The User shall not be able to complete the subscription if Mobee decides in its sole discretion that the User's Account has insufficient Crypto Assets and/or balance for any relevant subscription.
2.4. After subscribing for an Earn Product, the User agrees that the Principal Amount for the Earn Product shall not be available for the User's use as of the Start Date until the Maturity Date.
2.5. If the Earn Product page shows “Order Submitted Unsuccessfully” (or other phrases of the equivalent meaning), it means the User did not successfully subscribe for the selected Earn Product. Such failure may happen due to Mobee's rejection of the order submitted by the User, computer malfunction, network congestion, market data error, insufficient balance on the User's Account, or other reasons.
2.6. Mobee may in its sole discretion refuse to accept and order or place other conditions on the receipt of instructions or orders from the User in respect of any Earn Product.
2.7. If the Earn Product page shows “Order Submitted Successfully” (or other phrases of the equivalent meaning), it means the User has successfully subscribed for the selected Earn Product.
2.8. Upon subscribing to an Earn Product, the User hereby represents and warrants to Mobee at all times during which the User maintains an Earn Product that:
2.8.1. Any Crypto Asset that the User uses to subscribe for the Earn Product is lawfully owned by the User.
2.8.2. The User is validly authorized to instruct Mobee to carry out the subscription relating to the relevant Earn Product and that all transactions initiated for the subscription are for the User's own account (or, in the case of business accounts, for the User's business’s account) and not on behalf of any other person or entity.
2.9. By subscribing to an Earn Product, the User agrees to this Agreement, Mobee's Privacy Policy, and Terms and Conditions, which shall form part of this Agreement.
- Product Description
3.1. The User subscribes to an Earn Product for the purposes of generating yield on certain Crypto Assets elected by Mobee in its sole discretion. Subject to the Terms of Product and the availability of the Earn Product on Mobee's Platform, the User may subscribe for:
3.1.1. Dual Investments, which are comparable to limit orders where an investor takes a position to buy or sell a Crypto Asset at a predetermined price and Maturity Date.
3.1.2. Flexi Earn, which is an investment that provides regular and predictable returns in the form of interest.
3.2. The Maturity Date for a Flexi Earn shall be the last day within the fixed Terms of Product unless Mobee agrees to early redemption of such Flexi Earn.
3.3. Dual Investment can only be redeemed by the User on the Maturity Date. Upon subscribing to the Dual Investment, under no circumstance shall the User be able to redeem their Initial Capital before the Maturity Date. The APR of a Dual Investment may change from time to time and shall be determined by Mobee in its sole discretion.
3.4. Mobee will use the User's Principal Amounts to engage in certain transactions as set forth in Article 8. Such transactions are subject to third-party credit risks, market risks, legal and regulatory risks, among others, which may cause Mobee to be unable to receive yield and even lose the User's Principal Amounts.
3.5. Any Earning is subject to Mobee's ability to generate yield on such transactions. Therefore, under extreme market conditions, the User may not receive Earning and could possibly lose some or all of the User's Principal Amounts.
- APR Calculation
4.1. Subject to the Terms of Product, the Earnings (if applicable) shall accrue for each day at [*] ([timezone]) starting from the Start Date and ending on the Maturity Date on a daily basis.
4.2. The User acknowledges and agrees that the amount of Earnings as shown on the Mobee Platform is only for information purposes and may vary from the actual Earnings the User is entitled to upon expiry of the Earn Product.
- No Guarantee on Earnings
5.1. The User acknowledges that the Earn Product and services are subject to substantial risk, including the risk of significant or total loss of the User's principal.
5.2. There are no assurances or guarantees made by Mobee or any associated parties that any product or service will result in a profit or even a principal guarantee.
5.3. Notwithstanding anything to the contrary in this Agreement, the User acknowledges and agrees that Mobee makes no guarantee regarding the likelihood or probability of the Earnings on any Earn Product. The actual Earnings on the Earn Product may vary significantly from the Earnings displayed, and Mobee has the right to adjust the earning rate at any time and may decide not to provide any Earnings to the User in its sole discretion.
- Fee in Relation to the Earn Product
6.1. Mobee may charge fees for the subscription of the Earn Product as presented in the Terms of Product.
- Disclaimer of Risks
7.1. The Earn Product hereunder is not equivalent to a deposit. The User should therefore not treat the Earn Product as a substitute for ordinary savings or deposits and is not eligible for any public or private deposit insurance protection.
7.2. Extreme market conditions such as volatile price movements may lead to an unpredictable large volume of withdrawal requests submitted to Mobee's platform. This may affect the normal use of Mobee's platform, and Mobee may restrict the User's ability to submit withdrawal requests.
7.3. Crypto Assets are subject to risks such as fraud, cyber-attack, theft, manipulation, or security failures. Transactions in Crypto Assets may be irreversible, and losses due to fraud, theft, or manipulation may not be recoverable.
7.4. Investors in Crypto Assets therefore have little or no recourse should such theft, fraud, or manipulation occur and could suffer significant losses.
- Acknowledgement of Utilization of Assets
8.1. By subscribing to the Earn Product, the User agrees that during the period of Earn Product, Mobee may, to the extent permitted by law, at its discretion apply part or all of the User’s Crypto Assets under the Earn Product as Mobee deems appropriate, including but not limited to, encumber, pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer, assign, invest or use any amount of the relevant Accounts underlying the Principal Amount, separately or together with other property, with all attendant rights of ownership, and for any period of time.
8.2. The User acknowledges that, with respect to any or all of Accounts underlying the Principal Amount used by Mobee:
8.2.1. The User will not be able to exercise rights of ownership.
8.2.2. Mobee may receive benefits or earnings other than the Earnings in connection with using such Principal Amount in its business to which the User will have no entitlement.
8.3. The User hereby grants full power and authority to Mobee to carry out the actions as described in Article 8.1 above. This power and authority cannot be revoked and is an essential part of this Agreement, without which this Agreement shall not be made, and shall not terminate for any reason during the Earn Product period.
- Indemnification
9.1. The User hereby agrees to indemnify and hold Mobee and its subsidiaries and affiliates, third-party service providers, and their officers, members of the board of directors and commissioners, officers, joint ventures, trust, and employees ("Indemnified Parties") harmless from any loss, claim, cost, or demand arising out of or related to the User's:
9.1.1. Breach of this Agreement or any related terms and conditions.
9.1.2. Improper use of the Earn Product.
9.1.3. Violation of any law, rule, or regulation, or the rights of any third party.
9.1.4. Any loss as a result of the User's default, fraud, or gross negligence.
9.2. Any invalidity, unenforceability, release, or discharge of the liability of the User to any of the Indemnified Parties shall not affect the liability of any other persons (if any) to the Indemnified Parties.
- Liability
10.1. Mobee shall not be liable for the User's loss arising from:
10.1.1. The conditions described under Article 9.1 above.
10.1.2. Any malfunction, defect, or error in any terminal used to process any instructions from the User, or other machines or systems of authorization whether belonging to or operated by other persons or Mobee.
10.1.3. Any delay or inability on Mobee's part to perform any of Mobee's obligations under this Agreement because of any Force Majeure event.
10.1.4. Any damage to or loss or inability to retrieve any data or information that may be related to the Earn Product or Mobee's services hereunder.
10.1.5. Any underperformance, negligence, or default of any third parties that Mobee may engage, such as Crypto Asset wallet providers or exchanges, in providing the services and the Earn Product, directly or indirectly.
10.1.6. Fraud or forgery by any third parties.
10.2. Mobee shall not be liable for the User's:
10.2.1. Business interruption, loss of revenue or profits, loss of business opportunity, customers or contracts, goodwill, opportunity, or anticipated savings whether direct or indirect, even if Mobee is advised of or knew or should have known of the possibility of the same.
10.2.2. Any indirect or consequential loss.
10.3. In any event, Mobee's total liability to the User in respect of the Earn Product under this Agreement shall not exceed the Principal Amount.
- Tax
11.1. Each Party shall be responsible for the taxes that may be imposed or levied as required by applicable law in relation to this Agreement and/or the transactions hereunder.
- Governing Law
12.1. This Agreement shall be governed by and interpreted in accordance with the laws of the Republic of Indonesia.
- Change of Control
13.1. In the event Mobee is restructured or is acquired by or merged with a third-party entity, Mobee reserves the right, in any of these circumstances, to transfer or assign the User's information that has been collected by Mobee as part of such acquisition, merger, sale, or other change of control.
- Assignment
14.1. Mobee may assign or transfer to any third party, including but not limited to another company, subsidiary, or affiliate of Mobee, by providing written notice of such assignment or transfer.
14.2. If the User wishes to transfer any rights or obligations under this Agreement, the User needs to obtain written consent from Mobee for such an assignment.
- Force Majeure
15.1. Force majeure is an event or condition that is reasonably beyond the control of a Party ("Force Majeure"), where it by its nature cannot be prevented or overcome, including but not limited to, natural disasters, floods, fires, epidemics, war (both declared or not), rebellion, armed conflict, riots, turmoil, coups, revolutions, acts of terrorism, sabotage, criminal acts, nuclear explosions, electrical disturbances, systems, or third-party networks, or changes in government policies or laws and regulations that reasonably and materially affect the ability of the Party to fulfill its obligations under the Agreement or other terms and conditions.
15.2. Non-fulfillment or non-performance of Mobee's obligations under this Agreement shall not be deemed a default or breach of this Agreement if it is due to Force Majeure. Mobee shall not be responsible or liable to the User for any and all of the damages suffered by the User caused by or incidental to such Force Majeure.
- Confidentiality
16.1. Each Party agrees to keep secret and confidential and not to use, disclose, or divulge to any third party or to enable or cause any person to become aware of any information relating to this Agreement (“Confidential Information”). All Confidential Information shall only be used for the purpose of this Agreement.
16.2. Each Party may disclose the Confidential Information to its affiliated company, board of directors, board of commissioners, employees, officers, and consultants limited to those who need to know the Confidential Information, provided that the Parties shall ensure that such affiliated company, board of directors, board of commissioners, employees, officers, and consultants comply with the confidentiality provisions under this Agreement.
16.3. The confidentiality obligation under this Agreement shall not apply for the information that:
16.3.1. Was public knowledge or already known to the receiving Party at the time of disclosure.
16.3.2. Subsequently becomes public knowledge other than by breach of this Agreement.
16.3.3. Subsequently comes lawfully into the possession of the receiving Party from a third party.
16.3.4. Provided that prior to disclosing any Confidential Information, the disclosing Party shall notify and consult on the substance and form of the Confidential Information to be disclosed to the other Party.
16.4. If there is proof of illegal dissemination and/or disclosure of Confidential Information by the User under this Agreement, Mobee shall have the right to claim compensation from the User for the damages caused and/or that may be caused.
16.5. The confidentiality obligations under this Agreement shall continue to apply after the termination of this Agreement.
- Dispute Settlement
17.1. Any dispute, controversy, or claim arising out of, or in connection with this Agreement whether in relation to its existence, validity, performance, interpretation, or termination (“Dispute”), shall be settled through amicable settlement within a period of 30 (thirty) calendar days after written notice of the Dispute is submitted by registered mail to Mobee.
17.2. In the event that the Dispute cannot be settled through amicable settlement within the 30-day period, Mobee and the User may settle the Dispute using the procedures as stipulated in the Futures Exchange Regulations and/or Commodity Futures Trading Regulatory Agency (CofTRA) Regulations.
17.3. If the Parties are unable to settle the Dispute through amicable settlement within the period referred to in Article 17.1, the Dispute shall be settled through the Commodity Futures Trading Arbitration Board or the South Jakarta District Court.
- Miscellaneous
18.1. Mobee may amend or modify the Agreement at any time by posting the revised agreement on the Mobee Platform and/or providing a copy to the User (“Revised Agreement”).
18.1.1. If the User continues to use the Earn Product and services under this Agreement after the Revised Agreement is posted or provided, the User shall be deemed to have accepted the Revised Agreement, and it shall be binding.
18.1.2. If the User does not wish to accept the Revised Agreement, the User should notify Mobee as promptly as possible.
18.1.3. The Agreement can only be amended or modified pursuant to this Article. No employees of Mobee or associated parties may unilaterally or jointly amend or modify this Agreement in any other way.
18.2. The express or implied waiver by any Party of any of its rights or remedies arising under this Agreement or by law shall not constitute a continuing waiver of the right or remedy waived or a waiver of any other right or remedy.
18.3. If any term of this Agreement is unlawful or unenforceable under any applicable law, it will, to the extent permitted by such law, be severed from this Agreement and rendered ineffective where possible without modifying the other terms of this Agreement.
18.4. This Agreement (including documents incorporated by reference herein) comprises the entire understanding and agreement between the User and Mobee as to the subject matter hereof, and it supersedes any and all prior discussions, agreements, and understandings of any kind, including prior versions of this Agreement.